An undersea power cable named Estlink 2 which was connecting the countries Finland and Estonia eventually experienced a significant outage in the month of December this year while prompting an investigation by the Finnish authorities, reported The Guardian. ET Year-end Special Reads Corporate Kalesh: Top family disputes of India Inc in 2024 The world of business lost these eminent people in 2024 Fast, faster, fastest: How 2024 put more speed into your shopping According to The Guardian, the incident occurred during the afternoon which resulted in cutting off power transmission and raising suspicions of potential sabotage. Finnish Prime Minister Petteri Orpo reassured the public that the outage would not affect the electricity supply of the country as sufficient capacity remained available. The outage is part of a concerning trend of incidents involving undersea cables in the Baltic Sea region which have heightened tensions following Russia's invasion of Ukraine, asserted The Gurdian. Previous incidents included the severing of telecom cables linking Finland to Sweden and a gas pipeline damaged by a Chinese cargo ship's anchor earlier this year. The Finnish electricity grid's head of operations named Arto Pahkin eventually indicated that sabotage cannot be ruled out and emphasized on the need for vigilance, noted The Guardian. As the investigations continue, concerned officials remain on alert due to the strategic importance of these infrastructure connections in the context of regional security concerns. 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An undersea power cable named Estlink 2 which was connecting the countries Finland and Estonia eventually experienced a significant outage in the month of December this year while prompting an investigation by the Finnish authorities. What did the head of operations from the Finnish electricity grid indicate following the significant outage? The Finnish electricity grid's head of operations named Arto Pahkin eventually indicated that sabotage cannot be ruled out and emphasized on the need for vigilance. (You can now subscribe to our Economic Times WhatsApp channel )Daily Post Nigeria Flight delays: Nigerian Senate summons Aviation Minister, NCAA, other key stakeholders Home News Politics Metro Entertainment Sport News Flight delays: Nigerian Senate summons Aviation Minister, NCAA, other key stakeholders Published on December 4, 2024 By Matthew Atungwu The Senate has summoned the Minister of Aviation and Aerospace Development alongside the Director-General of the Nigeria Civil Aviation Authority, NCAA and airline operators to unravel the circumstances behind incessant flight delays and cancellations. The invitation of the key stakeholders in the aviation sector is said to be aimed at finding lasting solutions to the problem. The resolution followed a motion moved by Sen. Abdulfatai Buhari (APC, Oyo) during plenary on Wednesday, tagged “Incessant Delayed and Cancelled Flights by Airline Operators in Nigeria.” While moving the motion, Buhari noted that a series of reports from both the print and electronic media showed incessant delays and cancellations of flights by airline operators in the country. “This development is worrisome, as air travel is one of the most reliable, dependable and quicker means of transportation often undertaken for business and official purposes and to keep to other scheduled appointments, which are usually time-bound,” he said. According to him, the unwarranted flight delays and cancellations would be counter-productive to the socio-economic growth and development of the country. The lawmaker added that the quest for economic diversification and foreign direct investments, which are part of the current administration’s policy thrust, would remain an illusion if the country’s aviation industry fell short of global best practices. Supporting the motion, Senate Minority Whip Abba Moro recalled his experience with Nigerian airlines and the negative impacts that they could have. “I think that it is high time we took a very stern stance on some of these issues because it throws up the problem of our regulatory agencies,” he said. 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The Dow surged to a fresh record on Friday, extending a post-election US equity rally while the euro retreated against the US dollar following weak eurozone data. The blue-chip index piled on one percent to end the day at 44,296.51, narrowly overtaking a record set earlier this month. The Dow Jones Industrial Average rose one percent to close at 44,296.51, the S&P 500 gained 0.4 percent to 5,969.34 and the Nasdaq Composite rose 0.2 percent to 19,003.65. Major American indices have been at or near record territory since the US election, with investors betting that President-elect Donald Trump's programme of tax cuts and regulatory scale-back would more than offset the impact of expected tariff increases. "The trading most of this week has been influenced by the growth agenda," said Jack Ablin, chief investment officer at Cresset Capital Management. Market watchers have been cheered this week by a broadening of the rally beyond the tech names that dominated earlier in the year. The dollar also continued to strengthen, reflecting less certainty about additional Federal Reserve interest rate cuts and the US currency's status as a haven asset amid escalating tensions in the Russia-Ukraine war. The euro was also battered by a closely watched survey showing contractions in November business activity in the eurozone. The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global dropped to 48.1 compared to 50.0 in October, the most marked rate of contraction in 10 months. Any reading above 50 indicates growth, while a figure below 50 shows contraction. "Things could hardly have turned out much worse," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. "The eurozone's manufacturing sector is sinking deeper into recession, and now the services sector is starting to struggle after two months of marginal growth." But as the euro fell both Paris and Frankfurt stocks managed to recover their losses and advance. "The eurozone data has increased the chance of more rate cuts from the ECB next year," said Kathleen Brooks, research director at XTB, as well a cut of 50 basis points next month. "Investors have been jolted into recalibrating interest rate expectations on the back of this bleak economic news," she added. London managed to gain 1.4 percent despite data showing that retail sales figures for October undershot forecasts, as the pound fell against the dollar. Bitcoin set a new record high above US$99,500 on Friday, before easing slightly. The leading digital currency is expected to push through US$100,000 as investors grow increasingly hopeful that Trump will pass measures to deregulate the crypto sector. Bitcoin has soared more than 40 percent since the Republican's election victory this month and has more than doubled since the turn of the year. The recent surge has also been "driven by news that Trump could set up an official crypto department that would sit in the heart of US government," said XTB's Brooks. (AFP)
The Dow Jones Industrial Average closed fractionally higher today, stretching its winning streak to five sessions despite light trading volumes and rising U.S. Treasury yields weighing on some of the dominant technology megacaps. While the Nasdaq Composite and the S&P 500 were broadly unchanged, the indexes both finished slightly in negative territory. This snapped the Nasdaq’s four-session run of higher closes, and ended the S&P 500’s own run at three sessions. On a day of few catalysts, investors responded to yields on U.S. government bonds inching higher, including the yield on the benchmark 10-year Treasury note hitting its highest since early May at 4.64% earlier in the session. A strong auction of seven-year notes early in the afternoon though helped yields come off slightly, with the 10-year note at 4.58% in late-afternoon trade. Higher yields are traditionally seen as negative for growth stocks, as it raises the cost of their borrowing to fund expansion. With markets increasingly dominated by the megacap technology stocks known as the Magnificent Seven, crimping their performance – especially in lieu of other market catalysts – will put downward pressure on benchmark indexes. The S&P 500 slipped 2.45 points, or 0.04%, to 6,037.59 points, while the Nasdaq Composite lost 10.77 points, or 0.05%, to 20,020.36. The Dow Jones Industrial Average rose 28.77 points, or 0.07%, to 43,325.80. Six of the megacaps fell, with Tesla leading decliners with a 1.8% fall. The outlier was Apple, rising 0.3% and continuing to edge closer to becoming the first company in the world to hit a market value of $4 trillion. The megacap tech stocks came off somewhat in the summer, as investors sought to rotate some capital into other sectors offering more value. Since the U.S. elections in November though, they have resumed their drive upwards and have outperformed the equal-weighted version of the S&P 500, said Adam Turnquist, chief technical strategist for LPL Financial. “As a technician, what you want to see is breakouts in absolute terms and relative terms and the Mag 7 is checking the boxes there, so very constructive leadership going into the year-end,” he said. The three main indexes have hit multiple record highs this year on hopes of a lower interest rate environment and the prospects of artificial intelligence boosting corporate profits. However, U.S. stocks have hit a speed bump in the final month of the year following an election-led rally in November as investors assess the Federal Reserve’s projection of fewer interest rate cuts in 2025. Looking ahead, LPL Financial’s Turnquist said the last few weeks have seen significant reliance on the Magnificent Seven stocks driving markets higher, and we may be starting to see the cracks in this momentum. Therefore, to see further benchmark index increases, we will need to see input from other sectors of the economy. One data release today showed the number of Americans filing new applications for jobless benefits dipped to the lowest in a month last week, consistent with a cooling but still healthy U.S. labor market. Markets are in a seasonally strong period – called the “Santa Claus rally” – a pattern attributed to low liquidity, tax-loss harvesting and investing of year-end bonuses. The S&P 500 has gained an average of 1.3% in the last five trading days of December and the first two days of January since 1969, according to the Stock Trader’s Almanac. Cryptocurrency-related stocks were down after Bitcoin declined 3.9%. MicroStrategy, MARA Holdings and Coinbase Global all fell between 1.9% and 4.8%. Among the 11 S&P sectors that traded lower were consumer discretionary, off 0.6%, and the energy index, which slipped 0.1% as it tracked marginal weakness in U.S. crude prices.Vivek Ramaswamy Says America Doesn’t Have Enough Engineers Because We Mocked Steve Urkel
Dow rises for fifth day as megacap stocks face pressureShania Twain celebrates Christmas with cozy, make-up free look Shania Twain showed off cozy, no-makeup look on social media celebrating Christmas Shania Twain wants to feel cozy rather than fancy this Christmas. The singer-songwriter embraced a relaxed and cozy Christmas look this year, proving the comfort of festive sweaters and minimal makeup. On Sunday, December 25, the 59-year-old country music star shared a holiday greeting with her fans on Instagram, showcasing her festive attire. Twain opted for a casual at-home winter outfit, featuring a messy bun hairstyle, leggings, and a grey knitted Christmas sweater adorned with glittery Mickey and Minnie Mouse and the word "Jolly." "Merry Christmas from snowy Switzerland!," Twain captioned the photo. The post included a picture of the You're Still the One singer in the kitchen, seemingly preparing a holiday meal, along with a video of her dog playing in the snow next to a decorated outdoor Christmas tree. Twain's recent public appearance was at the 2024 People's Choice Country Awards in September, where she served as host. For that event, she sported a flippy blonde bob and smoky eye makeup. Speaking to People at that time, she reflected on her 30-plus years in the music industry, noting that the "creative element" of her work continues to drive her. "I love new songwriting. I love design and production. There's so much more that goes into being an artist than just standing on the stage and singing — even though, of course, that's a very bug part," she said. "But I think there's a lot the fans may not be aware of that goes on, and it's fun to share." She also added, “I definitely wear a lot of hats, and that keeps me motivated.” Late Dame Maggie Smith to get tribute in third ‘Downton Abbey’ movie Eva Longoria boasts about her Turkey-stuffed Zucchini boats Mila Kunis recalls growing up as Jewish kid before movie to USA Selena Gomez, Benny Blanco get cosy on first Christmas after engagement
NEW YORK , Dec. 4, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Celsius Holdings, Inc. (NASDAQ: CELH) between February 29, 2024 and September 4, 2024 , both dates inclusive (the "Class Period"), of the important January 21, 2025 lead plaintiff deadline. So what: If you purchased Celsius common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=31677 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 21 , 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Details of the case: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Celsius materially oversold inventory to PepsiCo, Inc. ("Pepsi") far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (2) as Pepsi drew down significant amounts of inventory overstock, Celsius' sales would materially decline in future periods, hurting Celsius' financial performance and outlook; (3) Celsius' sales rate to Pepsi was unsustainable and created a misleading impression of Celsius' financial performance and outlook; (4) as a result, Celsius' business metrics and financial prospects were not as strong as indicated in defendants' Class Period statements; and (5) consequently, defendants' statements regarding Celsius' outlook and expected financial performance were false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=31677 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com View original content to download multimedia: https://www.prnewswire.com/news-releases/celh-investors-have-opportunity-to-lead-celsius-holdings-inc-securities-fraud-lawsuit-302322852.html SOURCE THE ROSEN LAW FIRM, P. A.
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Special Counsel Jack Smith on Monday moved to dismiss the federal cases against US President-elect Donald Trump -- including one for election subversion -- citing an official policy of not prosecuting a sitting president. Trump, 78, was accused of conspiring to overturn the results of the 2020 election he lost to Joe Biden and mishandling classified documents after leaving the White House, but neither case ever came to trial. Smith, in a filing with the district judge in Washington presiding over the election case, said it should be dropped in light of the long-standing Justice Department policy of not indicting or prosecuting a sitting president. He cited the same reasoning in withdrawing his appeal of a ruling by a district judge, a Trump appointee, who dismissed the classified documents case earlier this year. Smith asked District Judge Tanya Chutkan to dismiss the election interference case "without prejudice" -- leaving open the possibility it could be revived after Trump leaves office four years from now. The special counsel paused the election interference case this month after Trump defeated Vice President Kamala Harris in the November 5 presidential election. "The Government's position on the merits of the defendant's prosecution has not changed," Smith said in the filing with Chutkan. "But the circumstances have." "It has long been the position of the Department of Justice that the United States Constitution forbids the federal indictment and subsequent criminal prosecution of a sitting President," Smith said. "As a result this prosecution must be dismissed before the defendant is inaugurated." In a separate filing, Smith said he was withdrawing his appeal of the dismissal of the classified documents case against Trump but pursuing the case against his two co-defendants, Trump valet Walt Nauta and Mar-a-Lago property manager Carlos De Oliveira. Trump's communications director Steven Cheung welcomed the move to dismiss the election interference case, calling it a "major victory for the rule of law." "The American People and President Trump want an immediate end to the political weaponization of our justice system and we look forward to uniting our country," Cheung said in a statement. Trump is accused of conspiracy to defraud the United States and conspiracy to obstruct an official proceeding -- the session of Congress called to certify Biden's win, which was violently attacked on January 6, 2021, by a mob of the then-president's supporters. Trump is also accused of seeking to disenfranchise US voters with his false claims that he won the 2020 election. The former and incoming president also faces two state cases -- in New York and Georgia. He was convicted in New York in May of 34 counts of falsifying business records to cover up a hush money payment to porn star Stormy Daniels on the eve of the 2016 election to stop her from revealing an alleged 2006 sexual encounter. Judge Juan Merchan has postponed sentencing while he considers a request from Trump's lawyers that the conviction be thrown out in light of the Supreme Court ruling in July that an ex-president has broad immunity from prosecution. In Georgia, Trump faces racketeering charges over his efforts to subvert the 2020 election results in the southern state, but that case will likely be frozen while he is in office. cl/bgs
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