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CHARLOTTE, N.C. (AP) — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. “Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them,” Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's “take-it-or-leave-it” final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as “open” teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was “primarily related to our ongoing lawsuit with NASCAR,” Freeze said. “NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit,” Freeze said. “NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved.” A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing “new circumstances” in a renewed motion for an injunction and of a “coordinated effort behind the scenes.” “This is completely false,” Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. “23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing,” Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. “It is not hypocritical to operate within the only system available while striving for excellence and contending for championships,” he continued. “It is a necessity because NASCAR’s monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level.” AP auto racing: https://apnews.com/hub/auto-racing
GAINESVILLE — This week’s Florida-Florida State game is about as personal as it gets for Gators sophomore safety Jordan Castell . The former West Orange standout grew up in a family of Seminoles fans, with his trash-talking grandmother Dessie the ring leader. She gave her grandson an earful after FSU’s 24-15 win last November in the Swamp kept the Seminoles unbeaten and ended the Gators’ season at 5-7. “The whole year I had to hear about it,” Castell recalled Monday. “‘You can’t beat us,’ ... all that.” Castell is ready for payback. The surging Gators (6-5) are 15-point favorites against the struggling Seminoles (2-9) as the bitter rivals prepare for Saturday night’s showdown at Doak Campbell Stadium. Florida ended No. 22 LSU’s slim SEC title hopes with a 27-16 win Nov. 16 in the Swamp and then knocked No. 9 Ole Miss out of the College Football Playoff picture with a 24-17 upset this past Saturday on UF’s Senior Day. Meanwhile in Tallahassee, the Seminoles’ 41-7 rout of overmatched Charleston Southern ended a six-game losing streak dating to a Sept. 22 win against Cal. FSU’s latest performance marked its first game with more than 20 points since a 24-21 Week 0 loss to Boston College. The season-opening defeat in in Dublin, Ireland, hinted 2024 was going to different than a 13-win 2023. No one anticipated coach Mike Norvell’s program was about to go off the rails, culminating with the firing of both coordinators following a 52-3 loss Nov. 9 at Notre Dame. Having experienced his share of headwinds and turmoil at Florida , Billy Napier said he is no position to discuss the issues occurring 150 miles northwest of Gainesville. “I have my own grass to mow,” he said. “My yard is big, has a lot of weeds in it. I have my own issues.” The Gators also entered the week with more momentum than they’ve had during Napier’s three seasons. UF has beaten ranked teams twice in consecutive weeks just three times in more than 20 years (2018, 2008, 2003). True freshman quarterback DJ Lagway’s poise, confidence and big-play ability has elevated the offense while the defense swarmed LSU and Ole Miss during consecutive weeks as the Gators pulled away during the fourth quarter. Ole Miss’ SEC-leading offense managed three second-half points as Florida forced two punts, intercepted two passes and made a key fourth-down stop. “I’d say we believe in each other,” Castell said. “Guys just doing their jobs. That’s all we really need, just trusting that guy beside you.” Castell likes the Gators’ chances to end a two-game losing streak against the Seminoles. Family bragging rights would come with a win, but Dessie Castell might try to set it up where she can’t really lose. Her grandson isn’t having any of it. “She likes to flip it,” Jordan Castell said. “The first half she said she’s going to wear her Florida jersey, my jersey. She said the last half she going to take it off, a Florida State girl. “I told her, ‘Once you take it off, just leave it off.’ “ Edgar Thompson can be reached at egthompson@orlandosentinel.com Florida at Florida State WHEN: 7 p.m., Saturday, Doak Campbell Stadium TV: ESPN2
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KUWAIT: Zain, Kuwait’s leading technology innovator, announced its platinum sponsorship of NEXUS—the largest technology, innovation, and entrepreneurship gathering of its kind. The three-day event was held at The Arena Kuwait, featuring participation from over 100 entities from the public and private sectors, under the patronage and presence of Minister of State for Communications Affairs Omar Al-Omar. Zain took part in the exhibition’s opening ceremony, which was attended by officials, executives, and experts representing a wide range of industries. The company’s support to this event aligns with its strategy to contribute to the national economy, emphasize the private sector’s role in supporting the country’s digital transformation plans, accelerate the entrepreneurial ecosystem, and empower Kuwaiti talent. How technology shapes future During the event, a panel discussion titled “How AI, data, and IoT will shape the future” was held, joined by Hamad Al-Marzouq, Chief Enterprise Business Officer at Zain Kuwait and Abdullah Al-Ajmi, Acting Chairman of the Communications and Information Technology Regulatory Authority (CITRA), along with other experts. During the panel, Al-Marzouq highlighted Zain’s leading role in digital transformation and how the company employs IoT and AI technologies to enhance customer experience and promote digital lifestyles. He also discussed some of Zain’s innovative solutions to integrate data analytics in smart city projects. He also discussed key projects in collaboration with government and private institutions to advance smart city initiatives and explored the opportunities that 5G and IoT technologies bring to Kuwait’s digital future. “At Zain, we take pride in being pioneers in adopting AI solutions and new technologies. We extend our gratitude to CITRA for their role in supporting our initiatives and facilitating the necessary licenses for launching technologies such as 5G, data centers, and cloud services in the market,” said Al-Marzouq during the panel discussion. “On the consumer side, we were the first to introduce AI-powered customer service solutions, such as our interactive smart platform, zBot, that we launched years ago. We also offer a comprehensive portfolio of IoT solutions that enrich our customers’ smart home experiences.” Al-Marzouq talked about Zain’s contributions in the enterprise sector. “We have numerous success stories where we empowered public and private sector entities to adopt the latest solutions such as 5G and 5G Advanced connectivity, and we’ve worked to enhance the smart city ecosystem by deploying 800,000 smart meters in collaboration with the Ministry of Electricity and Water,” he said. The discussion also touched on Zain’s collaboration with international tech companies. “Our solid partnerships with global technology giants such as Microsoft, Amazon (AWS), Google Cloud, and others have strengthened our digital infrastructure to provide the best services and solutions for business clients in the Kuwaiti market, including large corporations, SMEs, and the public sector,” said Al-Marzouq. He also highlighted a recent AI-driven platform developed by Zain for enterprise clients to help track project progress using data-driven insights. Among the notable success stories was the partnership with the Kuwait Credit Bank to provide an engineering inspection platform using drones, significantly enhancing citizens’ experiences. Discussing the significance of data in decision making, Al-Marzouq stated: “Data has become one of the most valuable resources today. At Zain, we recently launched the Zain Data Office, which assists us in making data-driven decisions. We harness the power of data to offer solutions that help overcome societal challenges and create exclusive offerings tailored to our customers’ unique needs.” Zain had an engaging presence at NEXUS, showcasing its leading experience in digital transformation, support for Kuwaiti entrepreneurs, and the latest fintech solutions, through its dedicated booth and by sharing expertise during engaging panel discussions and specialized workshops throughout the three-day event. Exclusive bundles for SMEs During its participation at NEXUS, Zain launched all-new exclusive bundles tailored for SME customers. Designed specifically for startups, these packages include a variety of offerings from Zain’s business portfolio, such as cloud solutions, 5G services, IoT, 5G connectivity, and more. The new plans provide customized and integrated solutions specifically designed for SMEs, helping them manage and operate their businesses seamlessly. The plans are cost-effective by bundling several services at a competitive price, with flexibility to customize the plans and opt in for add-ons as needed, ensuring small businesses have the tools and support needed for success and sustainable growth. The bundles target SMEs looking to enhance operational efficiency by providing reliable and fast 5G internet connectivity, hosted collaboration services, access to the latest productivity tools, high-level security, and flexible payment options. Additionally, Zain’s booth featured a notable contribution from FOO, Zain’s fintech partner, showcasing cutting-edge fintech solutions for institutions, including digital wallets, digital banking, banking-as-a-service, cloud-as-a-service, payment solutions, digital transformation enablement, and more. Fostering growth for entrepreneurs During the event, Haya AlManaa, Entrepreneurship and Innovation Expert at Zain Kuwait, participated in a panel titled “Ecosystem Builders and Enablers.” She highlighted Zain’s innovation strategy, which aims to support entrepreneurs and empower startups by providing world-class mentorship and acceleration resources. AlManaa spoke about Zain’s role in providing resources and mentorship to new entrepreneurs through its award-winning tech startup accelerator, Zain Great Idea (ZGI). She also discussed the challenges startups face in the tech space and how to overcome them to achieve sustainable growth, as well as Zain’s efforts to foster innovation and inclusion, especially for women in entrepreneurship. Zain’s booth featured participation from three Kuwaiti entrepreneurs from the finalists of the ZGI program, which recently concluded its global acceleration phase in Silicon Valley in the US. The participants included Faisal Tawfiqi and Fahad Alzuabi from USim — an internet roaming app, Abdullah Albusairi from EYON— an Arab live streaming platform, and Abdullah Shaban from Mawqif — a parking app. They highlighted their competitive services to visitors and shared their experiences from the ZGI program. NEXUS featured the first-of-its-kind startup challenge, where 100 startups competed for six major awards totaling KD 30,000, including a grand prize of KD 10,000. Three startups from the current ZGI cohort participated in the competition: Ghaneema Al-Mutawa, Yousur Al-Mutawa, and Yasmeen Al-Kandari from Seeds Academy; Mohammed Al-Kandari and Khaled Ibrahim from Caliery; and Abdulrahman Al-Fneisan from ADWAA. They presented their pioneering ideas and business models to the judging panel and audience. Partnership with ‘Raha’ On the sidelines of the exhibition, Zain announced a collaboration with Raha, the rapidly growing logistics technology company in Kuwait. Through this collaboration, Raha’s subsidiary, Smooth Logistics, will support Zain’s logistics operations, leveraging its expertise in advanced AI-powered robotics and automation solutions, considered to be among the best in their class in the logistics industry. The partnership was announced in the presence of Ahmad Al-Habib, Outbound Department Manager in the Channels Division at Zain Kuwait, and Saleh Al-Tunaib, co-founder and CEO of Raha. Smooth Logistics will provide support in managing Zain’s logistics operations, including transporting, storing, and shipping products and orders, following the highest standards of quality and efficiency, and utilizing AI-powered robotic solutions in its state-of-the-art facilities in Kuwait. Hamad Al-Marzouq: “Data has become one of today’s most valuable resources. At Zain, we harness the power of data to enhance customer experiences and enrich their digital lifestyle.”Ajay Bagga explains how FII inflows and economic recovery could fuel market growth
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LAS VEGAS (AP) — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. “As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It’s an honor for General Motors and Cadillac to join the world’s premier racing series, and we’re committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM’s engineering expertise and technology leadership at an entirely new level.”
Sohl The Ch.11 reorganization plan for bankrupt Spirit Airlines, Inc. ( OTC:SAVEQ ) is irrational because it was negotiated to maximize the recoveries for debt holders instead of creating a financial business model that would improve the long-term viability of Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.US stocks are rising near records and adding to last week’s gains. The S&P 500 was 0.1 per cent higher, as of 12:56 p.m. Eastern time, and sitting a bit below its all-time high set two weeks ago. The Dow Jones added 286 points, or 0.7 per cent, to its own record set on Friday, while the Nasdaq composite was 0.1 per cent higher. Wall Street has kicked off the week with more gains. Credit: AP The Australian sharemarket is set to edge higher, with futures at 4.54 pointing to a rise of 12 points, or 0.1 per cent, at the open. The ASX added 0.3 per cent on Monday. Treasury yields also eased in the bond market amid what some analysts called a “Bessent bounce” after President-elect Donald Trump said he wants Scott Bessent, a hedge fund manager, to be his Treasury Secretary. Bessent has advocated for reducing the US government’s deficit, which is how much more it spends than it takes in through tax and other revenue. Such an approach could soothe worries on Wall Street that Trump’s policies may lead to a much bigger deficit, which in turn would put upward pressure on Treasury yields. After climbing above 4.44 per cent immediately after Trump’s election, the yield on the 10-year Treasury fell back to 4.30 per cent Monday, down from 4.41 per cent late on Friday. That’s a notable move, and lower yields help make it cheaper for all kinds of companies and households to borrow money. They also give a boost to prices for stocks and other investments. The two-year Treasury yield, which more closely tracks the market’s expectations for what the Federal Reserve will do with overnight interest rates, also slid. The Fed began cutting its main interest rate just a couple of months ago from a two-decade high, hoping to keep the job market humming after bringing high inflation nearly all the way down to its 2 per cent target. But immediately after Trump’s victory, traders reduced bets for how many cuts the Fed may deliver next year. They were worried Trump’s preference for lower tax rates and higher spending on the border would balloon the national debt. On Monday, traders went back to increasing their bets for the number of cuts possible in 2025, according to data from CME Group. A report coming on Wednesday could influence how much the Fed may cut rates. Economists expect it to show that an underlying inflation trend the Fed prefers to use accelerated to 2.8 per cent last month from 2.7 per cent in September. Higher inflation would make the Fed more reluctant to cut rates as deeply or as quickly as it would otherwise. Goldman Sachs economist David Mericle expects that to slow by the end of next year to 2.4 per cent, but he said inflation would be even lower if not for expected tariff increases on imports from China and autos favored by Trump. In the stock market, Bath & Body Works jumped 14.8 per cent after delivering stronger profit for the latest quarter than analysts expected. The seller of personal care products and home fragrances also raised its financial forecasts for the full year, even though it still sees a “volatile retail environment” and a shorter holiday shopping season this year. Much focus has been on how resilient US shoppers can remain, given high prices across the economy and still-high interest rates. Last week, two major retailers sent mixed messages. Target tumbled after giving a dour forecast for the holiday shopping season. It followed Walmart, which gave a much more encouraging outlook. Another big retailer, Macy’s, said Monday its sales for the latest quarter were in line with its expectations, but it will delay the release of its full financial results. It found a single employee had intentionally hid up to $US154 million ($237 million) in delivery expenses, and it needs more time to complete its investigation. Macy’s stock fell 3.3 per cent. Among the market’s leaders were several companies related to the housing industry. Monday’s drop in Treasury yields could translate into easier mortgage rates, which could spur activity for housing. Builders FirstSource, a supplier or building materials, rose 6.8 per cent for one of the biggest gains in the S&P 500. Among homebuilders, D.R. Horton climbed 6.1 per cent, PulteGroup added 5.9 per cent and Lennar rose 5.5 per cent. In stock markets abroad, indexes moved modestly across much of Europe after finishing mixed in Asia. In the crypto market, bitcoin was trading around $95,300 after threatening to hit $100,000 late last week for the first time. AP The Market Recap newsletter is a wrap of the day’s trading. Get it each we e kday afternoon .
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Province aims to create Alberta Drilling Accelerator test site to support new technologiesAUSTIN, Texas (AP) — Any Texas or Texas A&M player has heard the lore of the rivalry between the two schools, a grudge match that dates to 1894. But for more than a decade — two generations of college football players — that's all it has been: Ghostly memories of great games and great plays made by heroes of the distant past.
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GREEN BAY, Wis. -- The right knee injury that cornerback Jaire Alexander has been dealing with over the past three weeks -- and the one that forced him out of his return last Sunday after only 10 snaps - could see him sit out more time, but the Green Bay Packers cornerback doesn't expect his season is over. Alexander told The Athletic on Thursday that he sustained a torn PCL when he hobbled off the field on the final defensive play of the Oct. 28 win over the Jacksonville Jaguars . Alexander sat out the next game, a Week 9 loss to the Detroit Lions . He returned to practice after the Week 10 bye and went into last week's game against the Chicago Bears expecting to play on a limited rep count but dropped out before halftime. Editor's Picks Latest NFL Week 12 buzz: What we're hearing on Daniel Jones' benching, GM candidates and playoff races 2d Dan Graziano and Jeremy Fowler 49ers TE Kittle vows to play Sunday vs. Packers 1d Nick Wagoner "I stayed here the whole bye week trying to hopefully come back and make an impact for the team," Alexander told The Athletic. "It was a game-time decision at that, so we didn't know ... until, you know, few minutes before the game if I would play or not." Alexander, a two-time All Pro, did not say what a reasonable timetable for his return. "I just need more than 21 days of non-contact," he said. "It just needed more time because to take three weeks off and not do much, that still wasn't enough." Earlier this season, he sat out Weeks 4 and 5 games because of groin and quadriceps injuries. Since the start of the 2021 season, when he appeared in only four regular-season games because of a shoulder injury, he has played in only 34 of a possible 61 games -- or 56%. All but one of the 27 games he sat out was because of injury; he served a one-game suspension for conduct detrimental to the team in 2023. Second-year pro Carrington Valentine probably would start Sunday against the 49ers if Alexander can't play. Alexander did not practice Wednesday or Thursday this week.Single heat wave wiped out millions of Alaska's dominant seabirdNoneAP Trending SummaryBrief at 11:18 a.m. EST
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KUWAIT CITY, Dec 12: The forum “National Identity and Strengthening Citizenship Principles in Kuwaiti Society” held two discussions on Wednesday, focusing on the role of media in enhancing national identity and the impact of political and legal issues on national unity and citizenship. The first session, titled “The Role of Media in Strengthening National Identity and Citizenship Principles,” was chaired by Editor-in-Chief of Al-Rai newspaper Waleed Al-Jassim who emphasized that a variety of identities within society creates a beautiful mosaic, as long as no single identity dominates, ensuring national stability. Al-Jassim highlighted the media’s responsibility in fostering national identity while respecting individual differences and preserving the state’s identity, and also discussed the rise of a universal human identity through social media, questioning its potential risks. Meanwhile, former Minister of Information Sami Al-Nisf warned against prioritizing personal desires over national interests and stressed the importance of reinforcing national identity for coexistence among citizens. Al-Nisf discussed the crucial role of professional media in enhancing national identity, emphasizing the country’s achievements, and advancing the values that build nations. On his side, Professor of Mass Communication at Kuwait University Dr. Khaled Al-Qahs explained that each generation interacts with media differently, noting that the current generation, heavily involved with digital technology and social media, requires targeted communication to strengthen national identity through these platforms. He also outlined various types of digital citizenship, such as digital consumption, participation in decision-making, and political activity, mentioning both the benefits and challenges of digital citizenship, including security risks and the spread of fake news. The second session, titled “Political and Legal Issues and their Impact on National Unity and Citizenship Principles,” was chaired by Professor of Political Science at Kuwait University Dr. Abdullah Al-Ghanim. He underscored the complexity of national identity and its importance to everyone, underlining the role of forums like this in shaping youth perspectives for a stronger nation. Next, Professor of Public Law at Kuwait University Dr. Mohammad Al- Fiali discussed national identity as a psychological concept requiring a legal foundation, emphasizing the connection between law, rights, and citizenship, and explaining that law binds identity to human frameworks, protecting it from dangers. As for the Professor of International Relations Dr. Ghanim Al-Najjar, he pointed out that national unity is closely linked to national identity, with Kuwait facilitating the formation of both. He referenced a study showing high levels of security in Kuwait, stating that justice, equality, and equal opportunities positively strengthen national identity. The forum, which started on Tuesday, was organized by the Gulf and Arabian Peninsula Studies Center at Kuwait University, the Women’s Institute for Development and Peace, and the National Unity Promotion Team at the Cabinet, and concluded today at the university’s Shuwaikh campus. (KUNA)