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According to the London St. Thomas Association of Realtors, a series of interest rate cuts helped fuel an increase in home sales last month. “Little bit of pent-up demand. People were waiting to see the sign that the rates were going to stay stable and probably continue to go down a little bit,” said association CEO Bill Madder. According to LSTAR the average sale price of a home in November was $640,198 - reflecting an increase of 5.9 per cent over November, 2023. Six-hundred-forty-one homes changed hands, for an increase of 35.5 per cent year over year, and new listings were up 10.8 per cent year-to-date. Madder said the market is starting to see the effect of cuts to the prime lending rate. “It’s definitely helping. I think there’s probably more response to that to come yet,” he speculated. Bill Madder, CEO London St. Thomas Real Estate Association (Bryan Bicknell/CTV News London) Madder said sellers still have an advantage in the current market, but the interest rate cut helps bring more balance. “If we compare to 2020-2021, that was clearly a benefit to the sellers. Now I think there’s probably a little more balance in our market.” The Bank of Canada is expected to cut the interest rate once more this year. Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. 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PT | Downtown Vancouver stabbing suspect dead after being shot by police A suspect is dead after being shot by police in a Vancouver convenience store after two people were injured in a stabbing Wednesday morning, according to authorities. DEVELOPING | As police search for suspect, disturbing video surfaces after U.S. health-care CEO gunned down in New York UnitedHealthcare CEO Brian Thompson was killed Wednesday morning in what investigators suspect was a targeted shooting outside a Manhattan hotel where the health insurer was holding an investor conference. 'Utterly absurd': Freeland rebuffs Poilievre's offer of two hours to present fall economic statement Deputy Prime Minister and Finance Minister Chrystia Freeland has rebuffed Conservative Leader Pierre Poilievre's offer to give up two hours of scheduled opposition time next Monday to present the awaited fall economic statement as 'utterly absurd.' Transport Minister to summon airline CEOs as Air Canada set to charge carry-on fees for some passengers Transport Minister Anita Anand says she will be calling Canadian airline CEOs to a meeting in mid-December after Air Canada says it will charge some passengers for carry-on bags in the new year. Canada's new public-sector payment system is still years away from being implemented After half a decade of testing and an investment of nearly $300 million, the federal government is still years away from fully implementing its next-generation pay and human resource cloud platform to replace the problem-plagued Phoenix payroll system. WATCH: Suspects armed with hammers hit Markham jewelry store Six suspects are in custody in connection with a smash-and-grab robbery at a jewelry store in a Markham mall that was captured on video. Why are some Canada Post outlets still open during CUPW strike? As many postal workers continue to strike across the country, some Canadians have been puzzled by the fact some Canada Post offices and retail outlets remain open. French government toppled in historic no-confidence vote French opposition lawmakers brought the government down on Wednesday, throwing the European Union's second-biggest economic power deeper into a political crisis that threatens its capacity to legislate and rein in a massive budget deficit. Woman who stowed away on plane to Paris is back on U.S. soil A Russian woman who stowed away on a Delta Air Line flight from New York to Paris last week has returned stateside Wednesday. Kitchener Waterloo Regional Police recover 52 vehicles from chop shop in North Dumfries, Ont. A chop shop in North Dumfries, Ont. has been dismantled after police found 52 stolen vehicles. Rescue of three boys from Cambridge pond prompts safety plea from officials Three 13-year-old boys fell through the ice at a Cambridge pond on Tuesday. We spoke to the Lifesaving Society of Ontario about how to stay safe on and in the water this winter. Transport Minister to summon airline CEOs as Air Canada set to charge carry-on fees for some passengers Transport Minister Anita Anand says she will be calling Canadian airline CEOs to a meeting in mid-December after Air Canada says it will charge some passengers for carry-on bags in the new year. Barrie Georgian College faces job cuts, dwindling enrolment amid international student cap Growing deficits, layoffs and far fewer enrolment numbers are forcing colleges and universities across the province to make tough decisions in the wake of Ottawa's cap on international students. 17-year-olds arrested with loaded gun, drugs in Barrie, police say Police in Barrie say two teens were arrested for having a loaded gun and drugs in their possession. Winter travel advisory issued as Muskoka braces for more snow Muskoka is in for more snow after a major dumping over the weekend that caused power outages, downed trees and road closures. Windsor Rising profits or closing brick and mortar stores: the impact of the ongoing Canada Post strike Most local businesses have found alternative ways to ship their products to customers during the Canada Post Strike. Mourning the loss of dramatic arts program, UWindsor students turn grief into performing arts piece Following budget cuts resulting in no theatre company like the University Players to rely on anymore, dramatic arts students were devastated. 'Hollywood Holidays' celebrates Christmas flicks at the Chrysler Theatre St. Clair College student-performers are spreading Christmas cheer as they prep for opening night of their upcoming Hollywood Holidays production. Northern Ontario Family reeling as victim of Sudbury stabbing left paralyzed A GoFundMe has been set up to help support Josee Rouleau, the victim of a stabbing that happened in Chelmsford in Greater Sudbury on Nov. 22. Warm, wet winter expected in much of Canada, say forecasters Federal forecasters expect a warmer-than-normal start to winter in most of Canada, with more precipitation than usual in parts of the country. Transport Minister to summon airline CEOs as Air Canada set to charge carry-on fees for some passengers Transport Minister Anita Anand says she will be calling Canadian airline CEOs to a meeting in mid-December after Air Canada says it will charge some passengers for carry-on bags in the new year. Sault Ste. Marie New addition to the CTV Northern Ontario family The CTV Northern Ontario family got a little bigger Tuesday when longtime anchor Marina Moore and her husband welcomed their second baby into the world. Some Ontario food banks are making cuts, Timmins is not A new report from Feed Ontario indicates food banks in the province have reduced the amount of food they provide, but the situation is not as bleak in Timmins. Northern Ont. MPP calls for increased winter training for truckers A Member of Provincial Parliament (MPP) from northern Ontario presented a bill at Queen’s Park calling for increased winter driving training for truckers. Ottawa Protester disrupts City of Ottawa information session about Sprung structure A man wearing a t-shirt that said "No tent in Ottawa" disrupted a City of Ottawa info session about the proposed Sprung structure that is set to be built along Woodroffe Avenue near the Nepean Sportsplex. WINTER WEATHER TRAVEL ADVISORY | 10 cm of snow in the forecast, OPP urging drivers to drive safely in Ottawa and eastern Ontario Cold temperatures and snow amounting to 10 centimetres are in the forecast for Ottawa this Wednesday. A winter weather travel advisory is in effect and police are asking people to drive safely. Ottawa's chief medical officer Dr. Vera Etches to become head of CHEO Ottawa’s medical officer of health Dr. Vera Etches has been appointed as the president and CEO of the Children's Hospital of Eastern Ontario (CHEO). Toronto WATCH: Suspects armed with hammers hit Markham jewelry store Six suspects are in custody in connection with a smash-and-grab robbery at a jewelry store in a Markham mall that was captured on video. 5 individuals wanted for GTA murders added to Canada’s most-wanted fugitives list Five individuals being sought by police in the GTA have been added to a list of Canada’s most wanted fugitives. Toronto remain under winter weather travel advisory Toronto got its first taste of winter weather Wednesday as a low-pressure system brought snow to the city. Montreal Former Montreal mayor Denis Coderre owes nearly $400K to tax agencies The Canada Revenue Agency is seeking more than $260,000 from former Montreal mayor Denis Coderre in a mortgage recovery filing. Drivers zig-zagging and posting videos in white-lining trend: Quebec prosecutors A Montreal man is facing a criminal charge of dangerous driving after he allegedly posted a video of himself zig-zagging through cars. It's a trend called 'white lining.' Quebec adopts motion on sexual exploitation of minors The Quebec legislature has adopted a motion to denounce a publicly funded organization that promotes 'forms of sexual exploitation of minors,' according to the Parti Québécois (PQ). Atlantic Body found in burned vehicle in Pictou County identified as missing N.S. woman Nova Scotia RCMP has identified the bodies found in a burned vehicle in Pictou County last month as a missing Truro woman and a man from Alberta. A province-by-province look at what to expect from Thursday's storm An early December storm moving across northern New Brunswick Thursday will bring the Maritime provinces a mix of snow, rain, and high wind. Traffic tensions: Halifax Transit patrons and drivers frustrated by delays Halifax Transit patrons and drivers are expressing frustration about long waits and delays. Winnipeg Proposed site for Winnipeg supervised consumption site in the city's core The province’s first supervised consumption site could soon be located along the Disraeli Freeway in Winnipeg. Canadian appears in U.S. court in decades-old cold case Robert Creter made his first court appearance since his extradition to the United States from Winnipeg. He's the prime suspect in the murder of 23-year-old Tami Tignor – a cold case dating back to 1997. 'We want you to enjoy shopping': Winnipeg police stepping up presence at busy retail locations for the holidays When you are doing your holiday shopping this month, you may notice more police officers out and about at some of the biggest shopping areas in Winnipeg. Calgary Former Calgary police officer wanted on Canada-wide warrant Calgary police have issued a Canada-wide warrant for a former officer they say used police resources to contact women he met while on duty. Alberta cattle producers express optimism in wake of Trump's tariff threat Cattle producers in Alberta don't appear to be overly concerned by the threat of tariffs by United States president-elect Donald Trump. Calgary could consider banning retail sale of dogs, cats and rabbits A Calgary committee will consider asking city officials to ban all sales of dogs, cats and rabbits in retail stores. Edmonton Lucy the elephant in good health, but should remain in Edmonton: experts Lucy the elephant is in good health and able to travel – though experts recommend she stays put. Removal of Treaty 6 flag in Barrhead a 'step backwards' for reconciliation: Grand Chief Treaty No. 6 First Nations Grand Chief Cody Thomas says the removal of the Treaty 6 flag in municipalities is a “mistake” and a “step backwards” for reconciliation. Collectors believe stamp hobby will endure despite unclear future of strike-embroiled Canada Post Even with the future of Canada Post in question, given the Crown corporation's mounting financial losses and loss of business due to a strike by postal workers, stamp collectors say they feel their hobby will ride out the uncertainty. Regina 'It's all about tradition': Bushwakker marking 30 years of blackberry mead The ancient art of meadmaking has become a holiday tradition for Regina's Bushwakker Brewpub, marking 30 years of its signature blackberry mead on Saturday. Sask. auditor releases findings on social services’ hotel spending An audit stemming from concerns over government practices of securing hotel rooms for those on social assistance has been released. Residents in Regina, Moose Jaw may notice changes in taste and colour of water Residents in Regina and Moose Jaw may notice some changes in their water as construction continues at the Buffalo Pound Water Treatment Plant. Saskatoon Saskatoon boy, 16, faces first-degree murder charge in death of woman found outside the Copper Mug A 16-year-old boy faces a first-degree murder charge in the case of a woman found dead in an 8th Street parking lot last month. Saskatchewan maintains dismal status as leader in spread of HIV, with no provincial strategy in place Advocates for Saskatchewan’s HIV-positive residents are calling for a provincial strategy to support those living with the virus, and to help stop its spread. "Really heartwarming": Santa's helpers in Saskatchewan help with Christmas letters amidst postal strike With only a few weeks left until Christmas, families are gearing up for the Santa experience with their kids. However, one of the annual traditions - writing letters to Santa - was in jeopardy due to the postal strike. Thanks to some dedicated volunteers, the magic will continue. Vancouver LIVE @ 4:30 P.M. PT | Downtown Vancouver stabbing suspect dead after being shot by police A suspect is dead after being shot by police in a Vancouver convenience store after two people were injured in a stabbing Wednesday morning, according to authorities. Suspect arrested after stabbing sends man to hospital in Surrey, B.C. Police say one man is in custody and another is in hospital after a stabbing Wednesday morning in Surrey, B.C. Early-rising Taylor Swift fans wait for hours in Vancouver for concert gear Taylor Swift fans were up before the sun in Vancouver to snag some coveted shirts, bags and sweaters to mark her record-breaking Eras Tour. Vancouver Island LIVE @ 4:30 P.M. PT | Downtown Vancouver stabbing suspect dead after being shot by police A suspect is dead after being shot by police in a Vancouver convenience store after two people were injured in a stabbing Wednesday morning, according to authorities. Federal minister Harjit Sajjan to attend Taylor Swift concert with taxpayer-funded ticket Harjit Sajjan, the federal minister responsible for the Pacific Economic Development Agency of Canada, will be going to the Eras Tour on taxpayer dollars. Environment Canada warns fog causing near-zero visibility in southwest B.C. Environment Canada is warning travellers that dense fog is creating near-zero visibility in parts of southwestern British Columbia on Wednesday. Stay ConnectedStock market today: Tech stocks and AI pull Wall Street to more records
Gov. Gavin Newsom, Sen.-elect Adam Schiff criticize Joe Biden over son’s pardon, reports sayI was excited to go to the Christmas markets for first date with dream man – then I discovered cruel truthNexa Resources Announces Closing Transaction of Pukaqaqa Project Sale to Olympic
US budget airlines are struggling. Will pursuing premium passengers solve their problems? DALLAS (AP) — Delta and United Airlines have become the most profitable U.S. airlines by targeting premium customers while also winning a significant share of budget travelers. That is squeezing smaller low-fare carriers like Spirit Airlines, which filed for bankruptcy protection on Monday. Some travel industry experts think Spirit’s troubles indicate less-wealthy passengers will have fewer choices and higher prices. Other discount airlines are on better financial footing but also are lagging far behind the full-service airlines when it comes to recovering from the COVID-19 pandemic. Most industry experts think Frontier and other so-called ultra-low-cost carriers will fill the vacuum if Spirit shrinks, and that there's still plenty of competition to prevent prices from spiking. Bitcoin ticks closer to $100,000 in extended surge following US elections NEW YORK (AP) — Bitcoin is jumping again, setting another new high above $99,000. The cryptocurrency has been shattering records almost daily since the U.S. presidential election, and has rocketed more than 40% higher in just two weeks. It's now at the doorstep of $100,000. Cryptocurrencies and related investments like crypto exchange-traded funds have rallied because the incoming Trump administration is expected to be more “crypto-friendly.” Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, other experts continue to warn of investment risks. Supreme Court steps into fight over FCC's $8 billion subsidies for internet and phone services WASHINGTON (AP) — The Supreme Court has stepped into a major legal fight over the $8 billion a year the federal government spends to subsidize phone and internet services in schools, libraries and rural areas, in a new test of federal regulatory power. The justices on Friday agreed to review an appellate ruling that struck down as unconstitutional the Universal Service Fund. The Federal Communications Commission collects money from telecommunications providers, who then pass the cost on to their customers. The Biden administration appealed the lower court ruling, but the case probably won’t be argued until late March. At that point, the Trump administration will be in place and it is not clear whether it will take a different view of the issue. Stock market today: Wall Street gains ground as it heads for a winning week Stocks gained ground on Wall Street, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.2% in afternoon trading Friday. The Dow Jones Industrial Average climbed 333 points and the Nasdaq composite was essentially flat. Retailers had some of the biggest gains. Gap soared after reporting quarterly results that easily beat analysts' estimates. EchoStar fell after DirecTV called of its purchase of that company's Dish Network unit. European markets closed mostly higher and Asian markets ended mixed. Treasury yields held relatively steady in the bond market. Crude oil prices gained ground. Australia rejects Elon Musk's claim that it plans to control access to the internet MELBOURNE, Australia (AP) — An Australian Cabinet minister has rejected X Corp. owner Elon Musk’s allegation that the government intends to control all Australians' access to the internet through legislation that would ban young children from social media. Treasurer Jim Chalmers said on Friday that Musk’s criticism was “unsurprising” after the government introduced legislation to Parliament that would fine platforms including X up to $133 million for allowing children under 16 to hold social media accounts. The spat continues months of open hostility between the Australian government and the tech billionaire over regulators’ efforts to reduce public harm from social media. Parliament could pass the legislation as soon as next week. Oil company Phillips 66 faces federal charges related to alleged Clean Water Act violations LOS ANGELES (AP) — Oil company Phillips 66 has been federally indicted in connection with alleged violations of the Clean Water Act in California. The Texas-based company is accused of discharging hundreds of thousands of gallons of industrial wastewater containing excessive amounts of oil and grease. The U.S. Department of Justice announced the indictment on Thursday. Phillips is charged with two counts of negligently violating the Clean Water Act and four counts of knowingly violating the Clean Water Act. An arraignment date has not been set. A spokesperson for the company said it was cooperating with prosecutors. US regulators seek to break up Google, forcing Chrome sale as part of monopoly punishment U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade. The proposed breakup floated in a 23-page document filed late Wednesday by the U.S. Justice Department calls for Google to sell its industry-leading Chrome web browser and impose restrictions designed to prevent Android from favoring its search engine. Regulators also want to ban Google from forging multibillion-dollar deals to lock in its dominant search engine as the default option on Apple’s iPhone and other devices. What you need to know about the proposed measures designed to curb Google's search monopoly U.S. regulators are proposing aggressive measures to restore competition to the online search market after a federal judge ruled that Google maintained an illegal monopoly. The sweeping set of recommendations filed late Wednesday could radically alter Google’s business. Regulators want Google to sell off its industry-leading Chrome web browser. They outlined a range of behavioral measures such as prohibiting Google from using search results to favor its own services such as YouTube, and forcing it to license search index data to its rivals. They're not going as far as to demand Google spin off Android, but are leaving that door open if the remedies don't work. Apple and Google face UK investigation into mobile browser dominance LONDON (AP) — A British watchdog says Apple and Google aren't giving consumers a genuine choice of mobile web browsers. The watchdog's report Friday recommends they face an investigation under new U.K. digital rules taking effect next year. The Competition and Markets Authority took aim at Apple, saying the iPhone maker’s tactics hold back innovation by stopping rivals from giving users new features like faster webpage loading. The CMA’s report also found that Apple and Google manipulate the choices given to mobile phone users to make their own browsers “the clearest or easiest option.” Apple said it disagreed with the findings. Atlantic City casino earnings fall nearly 14% in 3rd quarter ATLANTIC CITY, N.J. (AP) — Atlantic City’s casinos saw their operating profits decline by nearly 14% in the third quarter of this year. New Jersey gambling regulators say the nine casinos had a collective gross operating profit of $236.5 million in the third quarter. That was down 13.8% from the third quarter of 2023. Every casino was profitable, but only two — Caesars and Hard Rock — saw their profits increase in the third quarter compared with a year ago. Hard Rock had the highest average hotel occupancy at over 95%, and Ocean had the highest average hotel room price at $335.Feds clear Va. to use to extend broadband to unserved parts of state
CARTOONS: ABC high on the taste of Dutton's nuclear wasteNone
Rep. Alexandria Ocasio-Cortez (D-NY) shared conflicting thoughts on the murder of UnitedHealthcare CEO Brian Thompson Thursday afternoon, saying people view denied insurance claims as “violence,” yet insisting she was not justifying the purported assassination of the executive. “And it’s really important that we take a step back. This is not to comment, and this is not to say that an act of violence is justified,” she continued before explaining that people may be viewing the murder in different ways. “But I think for anyone who is confused or shocked or appalled, they need to understand that people interpret and feel and experience denied claims as an act of violence against them,” the congresswoman said. “People go homeless over the financial devastation of a diagnosis that doesn’t get addressed, or you know, the amount that they’re going to have to cover with a surprise bill and things like that. And we kind of talk about how systems are violent in this country in this passive way,” she said, blasting the privatized health care system and concluding that it is “like that for a huge amount of Americans.” “I mean, I did not have, I did not have health insurance until I got elected to Congress,” she continued. WATCH: Sen. Bernie Sanders (I-VT) also commented on the murder, describing it as an “atrocity.” However, like Ocasio-Cortez, he said the anger at the healthcare system is palpable. “Murder is murder, and it is totally unacceptable, but I think the outpouring that we have seen indicates that frustration and anger at a healthcare industry which rejects claims that people desperately need,” he said. “And I think people understand that our current healthcare system is broken. We need to do whatever we have a major country on earth does and guarantee health care to all people as a human right,” he added. WATCH: The remarks all come just over a week after Thompson was gunned down on December 4 outside the Hilton Hotel in Midtown Manhattan. As Breitbart News reported , the murder came amid reports that “top executives at his company have reportedly been under investigation by the Department of Justice (DOJ) for alleged insider trading and a monopoly.” Luigi Mangione, the suspect in the fatal shooting, has been arrested. “When Mangione was taken into custody in Altoona, Pennsylvania, Monday he allegedly had a handwritten letter in his possession which said, ‘These parasites had it coming,'” as Breitbart News reported . The left-wing climate justice group The Sunrise Movement is among those that have appeared to justify the murder, asserting that young people have “grown up watching CEOs commit mass murder.” The pro-Democrat Facebook page “The Other 98%” has also stirred the pot, sharing a photo mocking people “upset” that Mangione has been turned into a “folk hero” by some. “To people upset about Luigi being made into a folk hero. Now you know how we felt when you made Kyle Rittenhouse into one,” the post read.Korea's super-rich opt for safer investments in 2025: report
Mettler-Toledo International Inc. stock outperforms competitors on strong trading dayLAKE FOREST, Ill. (AP) — Thomas Brown insists he's focused on the job at hand and not the one he might have down the line. His immediate task as the interim coach of the Chicago Bears is helping the team finish strong over the final five games, starting this weekend at San Francisco. The rest of his life can wait. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.'Enough's enough': FENZ boss turns hose on bullying, and harassmentNEW YORK (AP) — U.S. stock indexes rose to more records Wednesday after tech companies talked up how much of a boost they’re getting from the artificial-intelligence boom. The S&P 500 climbed 0.6% to add to what’s set to be one of its best years of the millennium. It’s the 56th time the index has hit an all-time high this year after climbing in 11 of the last 12 days . The Dow Jones Industrial Average rose 308 points, or 0.7%, while the Nasdaq composite added 1.3% to its own record. Salesforce helped pull the market higher after delivering stronger revenue for the latest quarter than analysts expected, though its profit fell just short. CEO Mark Benioff highlighted the company’s artificial-intelligence offering for customers, saying “the rise of autonomous AI agents is revolutionizing global labor, reshaping how industries operate and scale.” The stock price of the company, which helps businesses manage their customers, jumped 11%. Marvell Technology leaped even more after delivering better results than expected, up 23.2%. CEO Matt Murphy said the semiconductor supplier is seeing strong demand from AI and gave a forecast for profit in the upcoming quarter that topped analysts’ expectations. All the optimistic talk helped Nvidia , the company whose chips are powering much of the move into AI, rally 3.5%. It was the strongest force pushing upward on the S&P 500 by far. They helped offset an 8.9% drop for Foot Locker, which reported profit and revenue that fell short of analysts’ expectations. CEO Mary Dillon said the company is taking a more cautious view, and it cut its forecasts for sales and profit this year. Dillon pointed to how keen customers are for discounts and how soft demand has been outside of Thanksgiving week and other key selling periods. Retailers overall have offered mixed signals about how resilient U.S. shoppers can remain. Their spending has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A narrower report released Wednesday morning suggested employers in the private sector increased their payrolls by less last month than economists expected. Hiring in manufacturing was the weakest since the spring, according to Nela Richardson, chief economist at ADP. The report strengthened traders’ expectations that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. The central bank had appeared set to continue cutting rates into next year, but the election of Donald Trump has scrambled Wall Street’s expectations somewhat. Trump’s preference for higher tariffs and other policies could lead to higher inflation , which could alter the Fed’s plans . Fed Chair Jerome Powell said Wednesday that the central bank can afford to cut rates cautiously because inflation has slowed from its peak two years ago and the economy remains sturdy. A separate report on Wednesday said health care, finance and other businesses in the U.S. services sector are continuing to grow, but not by as much as before and not by as much as economists expected. One respondent from the construction industry told the survey from the Institute for Supply Management that the Fed’s rate cuts haven't pulled down mortgage rates as much as hoped. Plus, “the unknown effect of tariffs clouds the future.” In the bond market, the yield on the 10-year Treasury fell to 4.18% from 4.23% late Tuesday. On Wall Street, Campbell’s sank 6.2% for one of the S&P 500’s sharper losses despite increasing its dividend and reporting a stronger profit than analysts expected. Its revenue fell short of Wall Street’s expectations, and the National Football League’s Washington Commanders hired Campbell’s CEO Mark Clouse as its team president. Gains for airline stocks helped offset that drop after JetBlue Airways said it saw stronger bookings for travel in November and December following the presidential election. It also said it’s benefiting from lower fuel prices, as well as lower costs due to improved on-time performance. JetBlue jumped 8.3%, while Southwest Airlines climbed 3.5%. All told, the S&P 500 rose 36.61 points to 6,086.49. The Dow climbed 308.51 to 45,014.04, and the Nasdaq composite rallied 254.21 to 19,735.12. In stock markets abroad, South Korea’s Kospi sank 1.4% following a night full of drama in Seoul. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night, prompting troops to surround the parliament. He revoked the martial law declaration six hours later. In the crypto market , bitcoin climbed near $99,000 after Trump said he would nominate Paul Atkins , a cryptocurrency advocate, to chair the Securities and Exchange Commission. AP Writers Matt Ott and Zimo Zhong contributed.
The Securities and Exchange Commission has issued a "settlement demand" to Elon Musk, the tech billionaire disclosed in a social media post on Thursday. The post included a copy of a letter sent by Musk's attorney, Quinn Emanuel Partner Alex Spiro, to SEC Chair Gary Gensler. The letter said that the federal agency had pressured Musk to agree to a settlement including a fine within 48 hours, or "face charges on numerous counts" regarding "Certain Purchases, Sales and Disclosures of Twitter Shares." The SEC has been investigating whether Musk, or anyone else working with him, committed securities fraud in 2022 as the Tesla CEO sold shares in his car company Tesla and shored up a stake in Twitter, ahead of his leveraged buyout of the social network which is now known as X. "Oh Gary, how could you do this to me?" Musk said in the post he shared on X late Thursday, along with an emoji showing a face holding back tears and a copy of Spiro's letter. In another post on Thursday, Musk wrote that he, "Asked @Grok to draw a picture of @GaryGensler. Very flattering, I think!" That post contained an AI-generated image portraying the SEC chair as a snail-like creature wearing a suit. A person directly familiar with the probe, who asked to remain un-named due to the sensitive nature of the matter, told CNBC that the SEC did send a settlement offer to Musk in recent days, but he was given more than 48 hours to respond. If the SEC cannot reach a settlement agreement with Musk, this person said, charges would not necessarily follow as a next step. When the agency cannot arrive at a settlement agreement with defendants, it will sometimes issue what's called a Wells Notice before enforcement staff make recommendations to agency commissioners, who then decide whether or not to file charges. Gensler, Musk and Spiro did not respond to requests for comment on Thursday. Musk's lawyer argued in his letter that the SEC has engaged in "more than six years of harassment" of Musk via investigative activity, including by reopening an investigation into the billionaire's health tech venture Neuralink this week. Spiro also wrote that he had personally been subpoenaed by SEC staff but refused to comply. He accused the agency of an "improperly motivated campaign against Mr. Musk and the individuals and companies associated with him," and demanded to know whether the White House or the SEC had directed this action against his client. In 2018, the SEC charged Musk with civil securities fraud after he tweeted that he was considering taking Tesla private at $420 per share and had "funding secured" to do so. No take-private deal ever materialized. Musk and Tesla each paid $20 million fines to the agency, and struck a revised settlement agreement that required Musk to temporarily relinquish his role as chairman of the board at Tesla. Since that time, Musk has repeatedly expressed his disdain for the SEC. The Tesla, SpaceX and X leader also became a Republican mega-donor in recent years, and helped propel President-elect Donald Trump back to the White House. In July this year, Trump vowed to fire the SEC chairman. After Trump's election victory, Gensler announced that he would be resigning from his post instead. In a separate civil lawsuit concerning the Twitter deal, which is a focus of the recent SEC probe, the Oklahoma Firefighters Pension and Retirement System sued Musk accusing him of deliberately concealing his progressive investments in the social network, and intent to buy out the company. The pension fund's attorneys argued that Musk, by failing to clearly disclose his investments in and intentions to buy Twitter, had influenced other shareholders' decisions and put them at a disadvantage. WATCH: Elon Musk asks court to block OpenAI from converting to a for-profitApple could be holding back innovation in smartphone browsers, according to a British regulatory report, which recommended that Apple's and Google's duopoly in mobile ecosystems should be investigated with its new powers. The Competition and Markets Authority (CMA) said on Friday its inquiry group had provisionally found that the mobile browser market was not working well for UK businesses and millions of phone users. The group's biggest concerns related to Apple's policies on accessing the web on iPhones . It provisionally found Apple's rules restricted competitors from delivering new features that could benefit consumers. It said many smaller British app developers wanted to use progressive web apps - an alternative way to provide apps to users without downloading them through an app store - but the technology was not able to fully take off on Apple's devices. A revenue-sharing agreement between Google and Apple had also reduced their incentives to compete in mobile browsers on Apple devices, it found. 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The new regime is expected to come into force in January. Apple said it disagreed with the CMA group's findings on its Safari browser and in-app browsing on its iOS operating system "We are concerned that the interventions discussed in the report for future consideration under the Digital Markets, Competition, and Consumers Act would undermine user privacy and security and hinder our ability to make the kind of technology that sets Apple apart," it said. The CMA opened an investigation into the market after it found in 2021 that Apple and Google had an effective duopoly on mobile ecosystems, including operating systems, app stores and web browsers on mobile devices. Inquiry group chair Margot Daly said issues identified in the report should be looked at by the regulator under its new powers. The CMA is expected to make a final decision in March. The independent inquiry group also proposed no further action should be taken on cloud gaming given its main concerns had been addressed. 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