THUNDER BAY — The Federal Court of Canada has ruled Confederation College's Aviation Centre of Excellence (ACE) is not subject to federal labour jurisdiction under the Canada Labour Code. In doing so, the court has set aside a finding made last year by a health and safety officer with Employment and Social Development Canada. This means the college can continue to operate exclusively under the requirements of Ontario's labour legislation. The officer's investigation was not conducted because of a complaint or occurrence in the workplace, but was launched proactively. He concluded that, even though the college as a whole is an educational institution falling under provincial labour jurisdiction, ACE is a "divisible entity" from the college. Because the aviation centre – located at Thunder Bay Airport – is engaged in the operation of aircraft and aircraft maintenance, the officer determined federal legislation applies for labour relations purposes. Confederation College successfully applied for a judicial review of that finding. Federal court judge Anne Turley heard arguments from the college and the federal government in October, and released her decision last week. ACE is operated by the college's School of Engineering, Technology, Trades and Aviation, and offers two full-time diploma programs – Aviation Flight Management and Aviation Technician-Aircraft Maintenance. Thirty of the college's 600 employees work in the aviation centre, and are members of the same union bargaining unit as all other college workers. During his investigation, the federal officer determined ACE "appears to be a separate division" within the college, and that because aircraft are regulated by the federal government, the aviation centre is governed by the Canada Labour Code. Education falls under provincial jurisdiction, but the Canada Labour Code states that a federal workplace, undertaking or business includes "aerodromes, aircraft or a line of air transportation." Judge Turley found the officer made a mistake when he concluded the aviation centre is involved in "two distinguishable activities: education and the operation of aircraft." She said "These are not two distinct activities. Rather, the aircraft are only operated for education purposes. The ACE teaches without using aircraft, but it does not use aircraft without teaching." She also noted the officer himself recognized that ACE aircraft are not used for charter flights or for any other form of transportation. "The officer's analysis fails to appreciate that the aircraft are simply among the teaching tools the ACE uses in its two post-secondary diploma programs, as part of Confederation College's mandate as a public college in Ontario. The tools the ACE uses to train its students do not change the essential nature of the ACE's operations: education." Matt Bunn, associate dean of aviation at the college, declined to speculate on how ACE might have been impacted if the court ruling had favoured federal jurisdiction. But in a statement to Newswatch, he said "We appreciate that this decision allows us to continue operating under provincial legislation, effectively supporting our operations thus far. Our focus remains on providing high-quality aviation education and training to our students, and we will continue to do so within the framework of our current regulatory requirements." Workplaces that are provincially-regulated fall under provisions of the Employment Standards Act. The Canada Labour Code governs federally-regulated workplaces and sets out requirements for collective bargaining, occupational health and safety, and employment standards including hours of work, wages, vacations and holidays.
Netherlands beat Germany to reach first Davis Cup finalMilitary courts' verdicts announced in line with SC's judgment: FOVikings' passing attack is as potent as ever with Addison's surge as Bears prepare for a rematchThe Pittsburgh Steelers have been hit with a devastating blow on the offensive side of the ball during the most crucial point of the 2024 season. With an incredibly difficult schedule ahead, top play-maker George Pickens showed up on the injury report with a hamstring injury the Friday before a Week 14 contest against the Cleveland Browns. He ended up missing the game, and is expected to be out longer than originally expected. This could provide to be a crucial absence as the team attempts to not just clinch a spot in the playoffs, but the AFC North and a postseason matchup at home. Fans were originally concerned when Pickens popped up on the injury report, but many believed his limited participation in Friday's practice before the Cleveland game was just the team being cautious. Many were shocked when he was inactive for the contest, but more suspicion starting flying around after it was reported that the injury was believed to be worse than originally thought. Mark Kaboly joined The Pomp and Joe Show on Wednesday to cut the state of the Steelers as the franchise prepares to take on the Philadelphia Eagles. The insider, who is much more aware of what goes on behind closed doors than most, expressed complete and utter confusion about the approach that Pittsburgh took to Pickens and his injury. "Do you know that they got to walk about, uh, 200 to go get an MRI at any time," Kaboly noted. "I'm not quite sure if any other organization on the planet has that accessibility to MRIs. Usually, they take advantage of that. I mean, any time somebody has, you know, a sneeze, they'll send somebody over to have an MRI, so I don't quite get why they didn't send him Thursday after practice. I have no idea." No one is doubting that Pickens in dealing with some kind of ailment, but Kaboly's points more so focus on the questionable calls made by the training and coaching staffs during this time. Giving a fan base hope that all was okay with the star wideout, and then coming back to say that it could be more serious is a complete lack of communication. Kaboly went into some more detail about how the process typically works for the Steelers when it comes to injuries that can be diagnosed with an MRI. He seemed relatively shocked that the franchise decided not to get Pickens one as soon as possible, given the fact that it has always been very careful with players dealing with soft tissue injuries. "Maybe they just thought that it wasn't that bad and even if, the history says that they err on the side of caution so many times when it comes to an MRI to go over there for a half hour and find out. I mean, that's how they find out the severity of these things, so something doesn't all add up. I'm not saying it's a conspiracy." Time will tell if Pickens will be good to go before January or not, but Kaboly did suggest that the team should hold its top pass-catcher out until the postseason. The biggest issue with that is the group is still attempting to win the division, and being without a dynamic play-maker on offense could significantly affect the chances of having a playoff game at home. Steelers Need Pickens Healthy As Fast As Possible Pittsburgh will be able to get by with strong defense and veteran leadership, but those two things will only take the team so far. When any organization is without its best player on offense, digression is expected. If the Steelers want to make a true run at another Super Bowl, one of the key parts of that will be Pickens. His health will be critical moving forward. This article first appeared on SteelerNation.com and was syndicated with permission.
Inception Growth Acquisition Limited Announces Extension of Business Combination Period
Stock market today: Wall Street’s rally stalls as Nasdaq pulls back from its recordShare Tweet Share Share Email The crypto market is buzzing with significant updates, stoking optimism in major projects. The Cronos network upgrade has boosted scalability and efficiency, drawing developers and lifting CRO to new peaks. Meanwhile, Render’s price forecast indicates it is becoming a powerhouse in decentralized GPU rendering, with expectations of considerable upward movement. However, BlockDAG (BDAG) is at the forefront with its $30M Grants Program, equipping creators and developers to forge groundbreaking blockchain applications. Supported by an unprecedented $172 million presale and its status as a top Layer 1 blockchain, BlockDAG is laying a strong foundation for widespread use and sustained achievement. Continue reading to learn about the latest developments in these projects and see which could be the next crypto to explode. Cronos Network Upgrade Propels Optimism for CRO The Cronos network upgrade is creating excitement as market participants anticipate a bullish trend for CRO. Highlighted by the recent implementation of the Pallene EVM v1.4 on December 12, Cronos now supports parallel transaction processing, dramatically increasing its scalability to tens of thousands of TPS. This key advancement bolsters Cronos’ position against other top Layer-1 networks. Additionally, the forthcoming Cronos zkEVM upgrade, planned for January 9, 2025, is set to enhance execution and lower gas costs, attracting more developers to its platform. Currently priced at $0.1935, Cronos exhibits strong bullish signs and a robust network, suggesting a potential rise to between $0.22 and $0.23, driven by the Cronos network upgrade. Render’s Price Forecast Signals Substantial Growth Render’s price forecast remains optimistic, fueled by a significant 32% increase over the past 30 days, taking RNDR to $8.92 and securing its position in the top 50 cryptocurrencies. Analysts believe Render could reach up to $11.89 by December 2024, with an average price of $8.20. Looking ahead to 2025, Render’s price forecast anticipates even higher peaks as its adoption grows. Nonetheless, despite its steady rise, Render’s dependence on broader market dynamics poses risks that could affect its long-term path. BlockDAG Launches $30M Grants to Boost Blockchain Development BlockDAG has initiated a bold $30M Grants Program aimed at empowering creators, developers, and innovators. Scheduled to operate for the next three years, this program allocates grants between $5,000 and $100,000 to support groundbreaking blockchain projects. From enhancing infrastructure to developing DeFi solutions and unique dApps, BlockDAG is committed to nurturing innovation by providing the necessary backing for exceptional ideas. This initiative aims to invigorate BlockDAG’s ecosystem by introducing new tools and services that will appeal to both developers and end-users. Projects funded through this initiative will become integral to the broader BlockDAG ecosystem, increasing both usage and transaction activity and demonstrating the platform’s scalability and adaptability. As new tools and services are launched, the network’s growth accelerates, promoting a cycle of innovation and growth that cements BlockDAG’s position as a leader in blockchain technology. BlockDAG’s significant crypto presale results—with over $172 million raised and more than 17.5 billion coins distributed—highlight the robust demand for its offerings. With a price of just $0.0234 in batch 26, early participants have seen a significant 2240% ROI since batch 1. As anticipation builds for the upcoming batch, demand is on the rise, propelling BlockDAG towards its $600M goal. Despite the improvements from Cronos network upgrades and positive outcomes anticipated by Render’s price forecasts, BlockDAG stands out. Its emphasis on accessibility, growth, and practical application sets it as the next crypto to explode in 2024. Furthermore, this grants program solidifies BlockDAG’s role as a breeding ground for the next wave of decentralized applications, setting the stage for a flourishing blockchain ecosystem. Forecasting the Next Major Crypto Breakthrough As the Cronos network upgrade enhances scalability and Render’s price forecast anticipates considerable growth, BlockDAG continues to set new standards in innovation. Its $30M Grants Program enables developers to create pioneering blockchain solutions, enhancing adoption and functionality throughout its network. With the presale already exceeding $172 million and delivering an impressive 2240% ROI from batch 1, BlockDAG is on a trajectory for exponential growth as it nears its $600M target. Looking toward 2025, BlockDAG’s commitment to decentralized innovation distinguishes it as the next crypto to explode, offering extraordinary opportunities for those poised to capitalize on this trend. Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Related Items: Blockchain , BlockDAG Share Tweet Share Share Email Recommended for you Innerworks and Bittensor ($TAO) Collaborate to Unveil RedTeam Platform to Enhance Cybersecurity Innovation Revolutionize Your Earnings with LTCMiner: The Future of Cloud Mining Avalanche and Chainlink Holders Accumulate This $0.12 DeFi Coin Amid Market Dip Comments
NoneUFC superstar Conor McGregor sparked a chaotic scene at Bellator 187 and attempted to get into a fistfight with referee Marc Goddard. Conor McGregor ‘s excitement for his SBG Ireland teammate Charlie Ward’s buzzer-beating knockout at Bellator 187 turned into a chaotic scene inside the cage. McGregor, just weeks removed from his professional boxing debut against Floyd Mayweather Jr., sat cage-side as Ward faced John Redmond at Bellator 187 in Dublin. With seconds remaining in the opening round, Ward blitzed Redmond with a punch-filled firestorm that finished his opponent by TKO. As Ward celebrated his performance, McGregor jumped over and sprinted across the cage to celebrate the win with his teammate. He tackled Ward to the ground as Goddard was attempting to restore order in the cage. After Goddard told McGregor to leave the cage, McGregor followed Goddard as the referee checked in on Redmond after the TKO blows. McGregor shoved Goddard and verbally assaulted the veteran referee before security personnel eventually separated them. It was a terrible look for McGregor while he was at the peak of his fame. McGregor also slapped a Bellator employee after his initial removal from the cage after allegedly trying to re-enter. READ MORE: Brock Lesnar went to crazy lengths to avoid ‘jitters’ in UFC debut: ‘It’s a different game’ Conor McGregor and Marc Goddard were involved in an all-out melee at Bellator 187 In a statement uploaded to Facebook just a few days after the incident, Goddard explained his version of events at Bellator 187. “I was talking only to Charlie Ward at this point and you will see me put my arms between him and Conor McGregor, trying to separate and restore order to notify him to go back to his corner and continue the rest period, I was trying to communicate with Charlie Ward and then trying to tell Conor to leave, it wasn’t done yet,” Goddard posted. “This is when Conor McGregor began firstly his verbal assault in my direction. My only thought at this point was to notify Charlie Ward, and his corner team, of my decision at the time and restore order to the fighting area. “Of course the ensuing mêlée and confusion had completely prevented that from happening, that is the result of the actions of one man.” The UFC punished McGregor for the incident by removing from a planned December 30th booking at UFC 219. He was originally expected to face eventual heated rival then-interim lightweight champ Tony Ferguson in the main event. READ MORE: Dakota Ditcheva debut footage shows ‘absolute masterclass’ performance kickstarted million-dollar MMA career Conor McGregor and Marc Goddard had issues before the UFC star’s ascent Before their Bellator 187 blowup, McGregor and Goddard had some history, dating back to when McGregor submitted Dave Hill at Cage Warriors 47 in 2012. McGregor scolded Goddard on social media for ‘horrendous’ and ‘crazy’ behavior linked to a mid-fight confrontation with presiding referee Neil Hall. McGregor and Goddard haven’t shared the cage since the incident. After a three-plus years hiatus from the UFC, McGregor’s planned Octagon comeback remains uncertain. McGregor has been linked to a potential boxing match with either Jake or Logan Paul for his combat sports return next year. He recently announced that he’s in ‘preliminary agreements’ to face Logan in the ring next year, although Jake is reportedly in the mix as well. Goddard has become one of the top referees in MMA today and is largely respected by fighters, pundits, and fans. He’s a significant reason for the rise of MMA in the UK. McGregor and Goddard may never see eye-to-eye, and their incident at Bellator 187 could’ve been a lot worse. But seven years later, things likely aren’t cordial between McGregor and Goddard. READ MORE: Sean O’Malley believes that Conor McGregor vs Logan Paul is a more ‘competitive fight’ than fans realize
Gophers coach P.J. Fleck explains trick play call on game-defining drive in Penn State lossImplements INDATA SaaS on a Front-to-Back Office Basis delivered via iPM Private Cloud GREENWICH, Conn. , Dec. 12, 2024 /PRNewswire/ -- INDATA , a leading industry provider of cloud-native, SaaS-based solutions for buyside firms, today announced that Paradigm Capital Management (PCM) is live with INDATA's Software-as-a-Service for Front, Middle and Back Office . With a three-decade history of small-cap investing, Paradigm Capital Management, based in Albany, NY employs a disciplined, bottom-up approach with an emphasis on fundamental analysis and extensive management contact. Paradigm manages $1.8 billion in AUM and offers a range of products including institutional separately managed accounts, proprietary mutual funds, and private wealth via hedge funds and LP's. Paradigm is using the INDATA system for a range of functions including trade order management (OMS), Portfolio Accounting , Performance and Reporting, including managed services for streamlined reconciliation. "We are very pleased to have Paradigm Capital Management as a client. We look forward to partnering with Paradigm on their ongoing needs," commented David Csiki , President of INDATA. About INDATA ® INDATA is a leading specialized provider of SaaS (Software-as-a-Service), technology and managed outsourcing services for buyside firms, including trade order management (OMS), portfolio management, compliance, portfolio accounting and front-to-back office. INDATA iPM Portfolio Architect AITM is the industry's first portfolio construction, modeling, rebalancing and reporting tool based on AI, and Machine Learning. INDATA's iPM – Intelligent Portfolio Management® technology platform allows end users to efficiently collaborate in real-time across the enterprise and contains the best of class functionality demanded by sophisticated institutional investors, wealth managers, and hedge funds. The company's mission is to provide clients with cutting edge technology products and services to increase trading and operational efficiency while reducing risk and administrative overhead. INDATA provides software and services to a variety of buyside clients including asset managers, registered investment advisors, banks and wealth management firms, pension funds and hedge funds. Assets under management range from under $1 billion to more than $100 billion across a variety of asset classes globally. For more information, visit www.indataipm.com Media Contact: David Csiki , dave@indataipm.com View original content: https://www.prnewswire.com/news-releases/paradigm-capital-management-live-with-indata-302330839.html SOURCE INDATA’s latent fingerprint algorithm has topped NIST’s Evaluation of Latent Friction Ridge Technology (ELFT) for accuracy. The evaluation by the National Institute of Standards and Technology tests how well a provider’s algorithm can identify the right person using latent prints. It references datasets from major U.S. government and law enforcement institutions – a core market for Neurotechnology. A release says the Vilnius-based firm’s ELFT submission “showcased its latent f as the most accurate across most datasets and among best in extraction speed.” “We are thrilled to end this year with one more top-tier evaluation from NIST,” says Evaldas Borcovas, biometrics research team lead for Neurotechnology. “ELFT represents the most advanced evaluation of for law enforcement applications. Our biometrics research team takes pride in this remarkable achievement, which highlights our unwavering commitment to advancing our technology and establishing new quality benchmarks in .” Neurotechnology, which was founded in 1990, also made a recent appearance on NIST’s by demographic group for men and women born in six regions of the world. In addition to Neurotechnology, the NIST ELFT leaderboard top ten for the FBI-Provided Solved Data Set # 1: FNIR at FPIR = 0.01 features algorithms from , , ., and . Other names in the top 20 include , , and Brazilian companies and . For extraction speed, ROC ranks fastest, followed by , Idemia, Beijing Hisign Technology Co., Dermalog, Griaule and Neurotechnology. | | | | | |
LAS VEGAS (AP) — The Broncos are 0-4 in Las Vegas, but in a matchup of teams heading in opposite directions, Denver has more at stake than trying to end a series skid. A victory over the Raiders puts the Broncos that much closer to an unexpected playoff berth, playing with a rookie quarterback and just a year after they went 8-9. The Broncos are 6-5 and coming off a 38-6 victory over the Atlanta Falcons , and would be in the playoff field if the season ended entering Week 12. Not bad for a team given a win total of 5 1/2 games at BetMGM Sportsbook. “Everyone understands the significance of where we are at this point in the season,” Broncos wide receiver Courtland Sutton said. The situation is quite different for the Raiders. They are 2-8, on a six-game losing streak and decimated by injuries. Las Vegas could enter this game without its top two running backs and a reshuffled line on offense, and defensively, the Raiders could have two linemen, three cornerbacks and a safety out of action. “Just been having some bad breaks, but nobody feels sorry for us,” Raiders coach Antonio Pierce said. "Nobody feels sorry for me. You’ve got to roll out there with 11 players, and that’s what we’re going to do come Sunday.” The Raiders are badly in a need of a franchise quarterback and are in a logjam for the top pick in next year's NFL draft. Denver showed with this year's draft how valuable landing such a QB can be to an organization. Bo Nix was selected 12th — one spot ahead of the Raiders — and he is pushing for AP Offensive Rookie of the Year. He was this week's top AFC player and rookie after completing 28 of 33 passes for 307 yards and four touchdowns in the rout of the Falcons. “I think as we’ve gone on, Coach (Sean Payton) and I have found a good rhythm of what we both like, what we can kind of put out there on the field and what we can execute," Nix said. "Then the guys have kind of adapted to it, found our roles within the offense and executed at a high level. It’s just all about slowing the game down and processing things in a manner that you can handle.” Raiders tight end Brock Bowers also could have a say in who wins the season's top offensive rookie award. He is second in the NFL with 70 catches and his 706 yards receiving is 10th among all receivers. His numbers from a historical perspective are even more impressive. Bowers, the 13th pick in this year's draft , is fourth all time among all tight ends in catches through the first 11 weeks and he and Jeremy Shockey in 2002 are the only rookies at that position to have more than one game with at least 10 receptions. “This week's a brand new week,” Bowers said. “I've always got something to prove.” Payton still isn't entirely comfortable splitting carries between running backs Javonte Williams, Jaleel McLaughlin and rookie Audric Estime. Asked how he determines the right balance in his rotation, Payton said, “That's the $6 million question. It’s difficult. We know kind of what we have with those three players. I think it’s always hard to feed three. "I'm used to — and it’s easy — to feed two. So we kind of do that a little bit. I thought Javonte had some really good runs (last week). Certainly the game ends and we’re like, ‘Gosh, we have to get Jaleel more touches.’ So it’s a tough, but a good problem to have.” With injuries to running backs Alexander Mattison (ankle) and Zamir White (quadriceps), 10-year veteran Ameer Abdullah could get the start for the Raiders this weekend. He has just 17 carries for 82 yards and a touchdown this season and started just one game his previous six seasons. “I see myself as a starter,” Abdullah said. “I think every guy in the room does. I consider myself the best back on this team just like every back does. This is my opportunity to go out there and put my best foot forward.” Patrick Surtain II had a pair of interceptions, including one he returned for 100 yards and a touchdown, in the team's first meeting this season and that fueled the Broncos' 34-18 win in Denver . Both of the passes were intended for Bowers, who caught a 57-yard touchdown pass in the first quarter. Surtain isn't expecting the Raiders to avoid him Sunday, however. “You don't want to go into a game thinking they're not gonna throw it your way,” Surtain said, “because it's the pros at the end of the day, everybody's ready, everybody's capable.” AP Pro Football Writer Arnie Stapleton in Englewood, Colorado, contributed to this report. AP NFL: https://apnews.com/hub/nflWATCH LIVE: Dutton to unveil nuclear policy costings
Will Macy’s Bold New Chapter strategy be enough to save the iconic company and return it to profitable growth? Macy’s is facing a challenging period marked by declining sales, changing consumer habits and pressure from activist investors calling for a fiscal overhaul. In recent years, the company has dealt with falling revenue and a drop in foot traffic to its stores, as well as the influence of eCommerce competitors. Additionally, most of its new customers are arriving through digital means. At the same time, activist groups have pushed for greater efficiency and profitability, urging Macy’s to rethink its traditional business model. Against this backdrop, Macy’s is investing in its future through its Bold New Chapter strategy, highlighted by an initiative dubbed First 50 , referring to 50 of its store locations. Unveiled in February, this strategy aims to modernize its operations, improve customer experiences and open new growth opportunities. A central focus is to revamp 50 key stores and use them as prototypes for the next generation of Macy’s locations. While the company has faced difficulties in recent quarters, its leadership remains optimistic about the future, with the goal of delivering more personalized shopping experiences for consumers. Third-quarter results released Wednesday (Dec. 11) show a 1.9% increase in comparable sales at these revamped stores, marking the third consecutive quarter of growth. The performance illustrates the potential for the company’s overarching strategy, which includes implementing staffing tests in women’s shoes and handbag departments in 100 additional locations. Additionally, Bloomingdale’s and Bluemercury reported positive growth (comp sales up 1% and 3.3%, respectively). For Bluemercury, it marked its 15th consecutive quarter of comparable sales growth. “Although we still have work to do, we believe our Bold New Chapter initiatives get us even closer to our goal of becoming a more profitable Macy’s Inc.,” CEO Tony Spring shared with analysts. “With our NPS scores up over 400 basis points, these are strong indicators the changes we’re making are the right changes. We had to make the necessary changes to make a better shopping experience. We have to provide the customer with a compelling reason to shop at Macy’s. This is a priority. We set out this year to change the Macy’s experience.” But Macy’s challenges are far from over. Third-quarter overall net sales fell 2.4%, to $4.7 billion, and comparable store sales decreased 2.4%. The decline was attributed to weak sales at non-First 50 locations, as well as struggles in digital channels and cold weather categories. Despite these challenges, Macy’s leadership remains focused on executing its Bold New Chapter strategy and believes that sustained improvements in customer experience and product offerings will eventually drive growth, Spring said. The company is also addressing its operational efficiency, phasing out legacy technology and optimizing its supply chain to improve the customer experience and increase product availability. These changes are part of a larger effort to simplify and modernize Macy’s operations, which includes a more agile approach to inventory management and an emphasis on digital tools to enhance both in-store and online shopping experiences. “We’re certainly seeing the customers who are familiar with those stores spend more and increase their visits, and we’re beginning to see some new customers,” Spring said. “The reality is more of our new customers today come through our digital channel. So, it’s our opportunity to bring them into a location to make them an omniconsumer.” Chief Financial Officer Adrian Mitchell said he’s “very encouraged” by the First 50 stores’ performance. “We’re leaning into the value orientation of today’s consumers,” he said. “Managing inventory carefully and ensuring that we’re offering value that aligns with what the customer is looking for is key. We continue to invest in the fundamentals of the business and we’re encouraged by the quality of execution. The momentum we’re seeing building, especially in our First 50 locations, is very encouraging. A lot of these investments are beginning to yield fruit.” As customers see the change in store and site experiences, Spring said, “we see more opportunity for growth. We’re not in a year of testing, We’re in a year of scaling. The customer has shown post-election a real interest in shopping in a variety of categories, which bodes well for all three of our nameplates.” Company officials also addressed the multimillion-dollar “intentional” employee accounting error . “As a result of the independent investigation and forensic analysis, the company identified that a single employee with responsibility for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide approximately $151 million of cumulative delivery expenses from the fourth quarter of 2021 through the third quarter of 2024,” the company said in its earnings release. “As previously communicated, the investigation determined that this matter had no impact on the company’s reported net cash flows, inventories, or vendor payments,” the statement continued. “We’ve concluded our investigation and are strengthening our existing controls and implementing additional changes designed to prevent this from happening again and demonstrate our strong commitment to corporate governance. Our focus is on ensuring that ethical conduct and integrity are upheld across the entire organization.”
WASHINGTON (AP) — House passes $895 billion defense policy bill with pay raise for troops, sending measure to Senate.Man charged after police discover firearm stash
NEW YORK (AP) — U.S. stock indexes fell Thursday following some potentially discouraging data on the economy . The S&P 500 slipped 0.5% for its fourth loss in the last six days. It’s a pause for the index, which has been rallying toward one of its best years of the millennium . The Dow Jones Industrial Average lost 234 points, or 0.5%, and the Nasdaq composite sank 0.7% from its record set the day before. A report early in the morning said more U.S. workers applied for unemployment benefits last week than expected. A separate update, meanwhile, showed that inflation at the wholesale level, before it reaches U.S. consumers, was hotter last month than economists expected. Neither report points to imminent disaster, but they dilute one of the hopes that’s driven the S&P 500 to 57 all-time highs so far this year : Inflation is slowing enough to convince the Federal Reserve to keep cutting interest rates, while the economy is remaining solid enough to stay out of a recession. Of the two reports, the weaker update on the job market may be the bigger deal for the market, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley. A surge in egg prices may have been behind the worse-than-expected inflation numbers. “One week doesn’t negate what has been a relatively steady stream of solid labor market data, but the Fed is primed to be sensitive to any signs of a softening jobs picture,” he said. Traders are widely expecting the Fed will ease its main interest rate at its meeting next week. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. A cut next week would have the Fed following other central banks, which lowered rates on Thursday. The European Central Bank cut rates by a quarter of a percentage point, as many investors expected, and the Swiss National Bank cut its policy rate by a steeper half of a percentage point. Following its decision, Switzerland’s central bank pointed to uncertainty about how U.S. President-elect Donald Trump’s victory will affect economic policies, as well as about where politics in Europe is heading. Trump has talked up tariffs and other policies that could upend global trade. He rang the bell marking the start of trading at the New York Stock Exchange on Thursday to chants of “USA.” On Wall Street, Adobe fell 13.7% and was one of the heaviest weights on the market despite reporting stronger profit for the latest quarter than analysts expected. The company gave forecasts for profit and revenue in its upcoming fiscal year that fell a bit shy of analysts’. Warner Bros. Discovery soared 15.4% after unveiling a new corporate structure that separates its streaming business and film studios from its traditional television business. CEO David Zaslav said the move “enhances our flexibility with potential future strategic opportunities,” raising speculation about a spinoff or sale. Kroger rose 3.2% after saying it would get back to buying back its own stock now that its attempt to merge with Albertsons is off . Kroger’s board approved a program to repurchase up to $7.5 billion of its stock, replacing an existing $1 billion authorization. All told, the S&P 500 fell 32.94 points to 6,051.25. The Dow Jones Industrial Average dropped 234.55 to 43,914.12, and the Nasdaq composite sank 132.05 to 19,902.84. In stock markets abroad, European indexes held relatively steady following the European Central Bank’s cut to rates. Asian markets were stronger. Indexes rose 1.2% in Hong Kong and 0.8% in Shanghai as leaders met in Beijing to set economic plans and targets for the coming year. South Korea’s Kospi rose 1.6% for its third straight gain of at least 1%, as it pulls back following last week’s political turmoil where its president briefly declared martial law. In the bond market, the 10-year U.S. Treasury yield rose to 4.33% from 4.27% late Wednesday. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
The Houston Rockets might just be one big trade away from being a contender. The 2024-25 NBA season has brought some pleasant surprises and some disappointing teams. The Houston Rockets are among the surprising teams this season as they are currently 21-9 and a half-game lead as the No. 2 seed in a loaded Western Conference. While the Rockets are one of the top seeds in the better of the two conferences, they are being overlooked as a contender. They’ve got a clear-cut style and identity while having depth, but they are lacking one major asset every contending squad needs. They don’t have a clear-cut superstar . However, the Rockets have the necessary trade chips and assets needed to acquire a star on the trade market. They’ve got to be patient and allow the right player to become available to make a move. There is one name who could be up for trade soon, though. Tim Bontemps claims De’Aaron Fox would be “scary” in Houston The narrative, right now, is that De’Aaron Fox needs to be traded from the Sacramento Kings . They are 13-18 and are continually sliding in the Western Conference. The former Kentucky guard led the franchise to end their playoff drought that ran two decades long, but they haven’t found any success beyond that. According to ESPN’s Tim Bontemps, a great fit for Fox would be Houston, pairing him with a Rockets squad that is knocking on the door of contention. He claimed they would be “scary” with the All-Star point guard on their roster. “Fox is a hell of a player. If you put him in Houston or San Antonio, I think that’d be pretty scary,” Bontemps said. Bontemps included the Spurs, which would be quite a unique fit. For now, they have Chris Paul alongside Victor Wembanyama. With Fox being 27-years-old, he could be a long-term pairing with Wembanyama, though. Still, the Rockets fit is quite an interesting one given their current roster makeup. However, Bomtemps listed four teams that could be in play, as one team, in particular, could be in play that might appeal to Fox. “I heard Miami, you know, the Bam [Adebayo] connection, there,” Bontemps said. The duo of Fox and Adebayo played together during college in Lexington, which could lead Fox to wanting to be on his way to South Beach to play with his former teammate. A Fox to Houston trade would shake quite a bit up Earlier this season, Fox, who is entering his prime years in the NBA, scored 60 points in a game, then scored 49 points in his following outing. The Kings aren’t a good basketball team right now, and moving Fox might be the only way forward for them. Of course, if Sacramento were to move Fox, they would then open up the idea of moving DeMar DeRozan and Domantas Sabonis, along with other win-now players, which would allow them to stack draft capital. What would a trade package look like? One would assume if the Kings are moving on from Fox, a rebuild would ensue. Fred VanVleet is a veteran player, but they could eventually flip him for more capital while using the salary to match in a Fox trade. Alongside VanVleet, the Kings could acquire a young guard like Reed Sheppard while trying to secure some draft capital with the high-upside Kentucky product. This article first appeared on NBA Analysis Network and was syndicated with permission.Christmas Day finds Magnolia searching for gift vs Ginebra