As most exit polls in Jharkhand predicted an edge to BJP-led NDA but not a clear majority of 41, both NDA and JMM-led I.N.D.I.A. bloc are keeping a tab on independent candidates for the formation of the government in the state. According to the exit polls, the NDA may need one to three seats to touch the magical figure of 41 out of 81 Assembly seats in Jharkhand. Among the probables, Devender Singh alias Bittu from Panki in Palamu district and Shalini Gupta from Koderma can be the kingmakers if either side does not get the magic number, a senior party worker in the NDA camp said. Similarly, the JMM-led alliance is not far behind as the exit polls predicted that the I.N.D.I.A. bloc may get 38 to 39 seats and they also need two or more seats to get the majority. The JMM has reportedly deputed managers to woo the independent candidates. The sources in JMM camp said that Congress leaders are in touch with Devendra Singh and will try to get his “Ghar-Wapsi” to the ruling alliance. The political experts feel that newly created party “Jharkhand Loktantrik Kranti Morcha (JLKM), led by the young and charismatic Jairam Mahto, has fair chances to win two to three seats out of 10 contested.It looks like influencer Kayla Nicole is finally spilling the beans on her superstar ex-boyfriend, Kansas City Chiefs tight end Travis Kelce , in the new season of Fox’s reality show Special Forces: World’s Toughest Test . In a new trailer for Season 3, Nicole can be seen wiping away her tears as she vents about ending her relationship with a public figure whom she later reveals to be Kelce. “Going through a public breakup, it’s been overwhelming,” she says in a voiceover in the new trailer. In another scene, she whispers to a fellow contestant that Kelce is her ex-boyfriend. The pair began their on-and-off relationship in 2017 until they reportedly split up for good in 2023. Nicole became the subject of intense online harassment when Kelce and Taylor Swift started seeing each other just months later. The lovebirds eventually confirmed their romance in September 2023. Nicole has been open about the harassment she’s faced on social media since their breakup. Speaking to Angel Reese on an October 2024 episode of her podcast Unapologetically Angel , Nicole admitted, “I would be lying if I said that that level of hate and just, like, online chaos didn’t impact me, it does. Even to this day.” She later told Reese, “I think that there’s something about that level of fame that attracts crazy people, and it’s unfortunate because I’ve never done anything to warrant that kind of backlash.” Nicole will be competing alongside a star-studded cast on Special Forces Season 3, including Brody Jenner , Denise Richards , Christy Carlson Romano , Kyla Pratt and more. Though Nicole did not comment on what she said regarding Kelce, she did share a different trailer from the show that shows her bungee jumping. “So, I did a thing. An insanely terrifying yet deeply empowering thing,” she wrote on social media . Special Forces: World’s Toughest Test premieres on Fox Wednesday, Jan. 8, at 8/7c. Scroll up to check out the new trailer for Special Forces Season 3.Thiago Motta: ‘Juventus denied Aston Villa what they wanted’
Trump’s tariffs in his first term did little to alter the economy, but this time could be differentHold your horses everyone as two new bills due to be passed in the Senate have now been blocked. Both the bill for the Golden Visa ban and a bill for fast-track squatter trials have encountered resistance in the Senate, having recently been approved by Congress. This 180-degree turnaround has come as a surprise, especially amid so much talk around how to manage the Golden Visa scheme after a ban is implemented. Now, the Senate – where Spain’s Popular Party (PP) holds an absolute majority – has approved a veto that sends the Bill on Judicial Efficiency tumbling back down to the lower house (Congress). This Judicial Efficiency Bill includes measures to enforce fast-track trials for squatter cases and the abolition of ‘Golden visas’, which has encountered resistance in the Senate, mainly due to incompetent management and organisation in the hands of the government. Most Read on Euro Weekly News Spanish banks will be forced to report every penny Southern Spain braces for Arctic front: Snow in some areas. Freezing temperatures for Spain as winter storm blasts Europe Squatter laws and Golden visa ban approved by Congress in November On November 14, the first stage of approving the two new measures seemed to be going in the right direction. It was approved by the Congress of Deputies, yet took a fatal blow when following a proposal by the PP (Partido Popular), the bill was vetoed by the Senate. According to the Spanish parliament’s Official Gazette dated December 2, this means the bill will return to Congress and they have the power to overturn the veto. Within the judicial bill, was the famous discontinuation of golden visas for investors purchasing properties worth over €500,000. Golden visas originally started under Mariano Rajoy’s leadership and their removal was planned for 2025. They have certainly materialised into a huge investment boom for the country, especially more recently. Between January and October this year, a mind-blowing 780 Golden visas were granted, with an average investment of €657,204. Since Prime Minister Pedro Sánchez announced the termination of these visas in April, 573 permits have been issued. Amid pressures surrounding housing prices and availability, among other issues, a ban for Golden visas has been firmly on the political agenda. Regarding squatting – a huge and well-documented social problem in Spanish society recently – the legislation approved by Congress proposes handling offences of home invasion and unlawful occupation of property through a fast-track judicial procedure. This means that cases should be resolved within approximately 15 days, unlike current procedures which can be extremely lengthy and complex. Squatting law, if approved, would see illegal squatting as minor offence Plans included some tweaks to Article 795 of the Criminal Procedure Act, wherevy cases of illegal squatting would be added to the list of minor offences, rubbing shoulders with similar crimes including theft and burglary. Some have praised the move as a step forward in tackling squatting whereas others have condemned the lack of legal impetus to deal with “tenant squatting” (inquiokupación). As in the case of any situation where a rival party vetoes a leader’s proposals, some may say that this is a chance for PP to expose leading political party, PSOE for its ‘incompetence.’ After all, PP did make a song and dance about the government failing to employ “proper legislative drafting techniques” and a lack of “planning and organisation.” PP also claims that trying to approve two legislative projects surrounding the same laws and themes simultaneously, is simply haphazard. It could create “confusion, chaos, and a serious attack on legal certainty.” It has advocated for citizens’ rights, purporting that the government’s rather clumsy execution of such legislation could leave citizens disadvantaged by what it has termed a “hodgepodge of uncoordinated legislative amendments.” Read more about Spain
By JOSH BOAK WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries. The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared. This time, though, his tariff threats might be different . The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he’ll do what he says and what the consequences could be. “There’s going to be a lot more tariffs, I mean, he’s pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his initial term. Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl, Trump posted. Democrats and business groups warn of risks from Trump’s tariff threats Business groups were quick to warn about rapidly escalating inflation , while Mexican President Claudia Sheinbaum said she would counter the move with tariffs on U.S. products. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.” “The economy department is preparing it,” Sheinbaum said. “If there are tariffs, Mexico would increase tariffs, it is a technical task about what would also benefit Mexico,” she said, suggesting her country would impose targeted import duties on U.S. goods in sensitive areas. House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans’ coming control of both the House and Senate. “This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs,” said Rep. Suzan DelBene, D-Wash. But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November’s election largely involved restraining inflation. The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second largest economy. Biden administration officials looked at removing Trump’s tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly. Tariffs were “so new and unique that it freaked everybody out in 2017,” said Stumo, but they were ultimately somewhat modest. Trump’s first term tariffs had a modest impact on economy Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods. Still, the dispute changed relations with China as more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its “soft power” as the Chinese population began to watch fewer American movies. The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs. Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically. When Trump first became president in 2017, the federal government collected $34.6 billion in customs, duties and fees. That sum more than doubled under Trump to $70.8 billion in 2019, according to Office of Management and Budget records. While that sum might seem meaningful, it was relatively small compared to the overall economy. America’s gross domestic product is now $29.3 trillion, according to the Bureau of Economic Analysis. The total tariffs collected in the United States would equal less than 0.3% of GDP. Trump wants much more far-reaching tariffs going forward The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts. If Mexico, Canada, and China faced the additional tariffs proposed by Trump on all goods imported to the United States, that could be roughly equal to $266 billion in tax collections, a number that does not assume any disruptions in trade or retaliatory moves by other countries. The cost of those taxes would likely be borne by U.S. families, importers and domestic and foreign companies in the form of higher prices or lower profits. Former Biden administration officials said they worried that companies could piggyback on Trump’s tariffs — if they’re imposed — as a rationale to raise their prices, just as many companies after Russia’s invasion of Ukraine in 2022 boosted food and energy costs and gave several major companies the space to raise prices, according to their own earnings calls with investors. But what Trump didn’t really spell out is what might cause him to back down on tariffs and declare a victory. What he is creating instead with his tariff threats is a sense of uncertainty as companies and countries await the details to figure out what all of this could mean. “We know the key economic policy priorities of the incoming Trump administration, but we don’t know how or when they will be addressed,” said Greg Daco, chief U.S. economist at EY-Parthenon. AP writer Mark Stevenson contributed to this report from Mexico City.Kai Sotto had his breakout game for Gilas. It's far from being a fluke since our 7'3 wunderkind has been consistently beasting in the Japanese B League. Averaging 12.1 points and 9.2 rebounds with the Koshiyaga Alphas, Sotto seems to have a found a home in the Land of the Rising Sun. Kai's true home is still the Philippines, and playing for Gilas. Coach Tim Cone continues to exploit our advantage in the paint. In the game against New Zealand, Cone was able to adjust even with the loss of AJ Edu to injury and JuneMar Fajardo having a bad game. Justin Brownlee did not even need to dominate the game. Register to read this story and more for free . Signing up for an account helps us improve your browsing experience. OR See our subscription options.Arsenal make Mikel Arteta proud after smashing Sporting LisbonFormer Australian all-rounder Shane Lee still chuckles at a mistake his champion brother Brett Lee made prior to a remarkable Test debut against India in Melbourne 25 years ago. Watch every ball of Australia v India LIVE & ad-break free during play in 4K on Kayo | New to Kayo? Get your first month for just $1. Limited time offer . Having decimated a Western Australian team featuring Adam Gilchrist, Damien Martyn and Mike Hussey days earlier, the younger Lee was added to the Australian squad for the Boxing Day Test. The 23-year-old had bowled with fire and fury in the Sheffield Shield game at the WACA, breaking former Test quick Jo Angel’s arm on the way to man of the match honours . In a chat with Fox Sports during the pandemic, Lee confessed that even now he is not particularly comfortable with the events that preceded his call-up for the Australian team. Wanting to impress the “who’s who” of Australian cricket playing in that match, with the Test captain Steve Waugh standing in slips alongside stars of the sport, he unleashed on WA. “There was a moment which I’m not particularly proud of,” Lee said. “(I warned Jo), ‘You’ve got two options here, mate. Either tread on your wicket and get out, or I’ll come around the wicket and break your arm’. I felt horrible.” But it did the trick. Steve Waugh approached national selector Geoff Marsh at the WACA after the Shield game and told him to get him into the team because “the Indians will hate it”. The following day, Lee was photographed outside the WACA after confirmation that he would join a team that had thrashed India in Adelaide for the second Test in Melbourne. Shane Lee, who had featured in the Shield match that led to Lee earning his first baggy green, grabbed a couple of close mates from home and headed down to Victoria. Before touching on the pride he has for a younger brother whose “pies” he once belted around the backyard as boys back in Wollongong, the older Lee sibling still laughs about a mishap that Brett experienced ahead of his Boxing Day debut. “A funny memory of that is that he had tried to put some highlights in his hair to blond his hair up a bit — he was trying to impress the young ladies back then — but his hair went slightly orange, so we gave him a bit stick about that,” Shane Lee told Fox Cricket’s The Follow On podcast. When relayed that tale last week, Angel had a laugh about it. Between breaking the Western Australia’s arm and the ‘hair-tastrophe’ prior to his debut, Lee had broken bread with the big man in hospital in Perth and there was never any bad blood between the pair. “He always liked to be a pretty boy, I think, Binga,” Angel said. “If you muck around with that sort of hair dye stuff, you are guaranteed to come unstuck at some stage. But that would be a good stage to do it on, before your first Test. You are going to make sure you get noticed, aren’t you? “But when you can bowl that quick, and swing the ball like he did, people are going to notice you, so I definitely wouldn’t have thought you were going to need highlights in the hair.” A DOUBLE-EDGED SWORD Brett Lee was a bundle of nerves on the morning of the Boxing Day Test. Fresh from bowling more than 150km/h at the WACA, Lee had posed for photoshoots leading into the game, with the expectation that he would be unleashed against India. In a recent chat with The Follow On podcast, Lee said he was still not sure whether or not he would get the nod ahead of Michael Kasprowicz to debut until the morning of the match. That is understandable, for the friendly ghost “Kasper” had snared seven wickets against Pakistan in Perth during late November when preferred to the newcomer from New South Wales. “Probably just the whole build up, there was a lot of expectation and a lot of conjecture around, ‘Would I play or not?’” he told The Follow On. “Michael Kasprowicz was looking to get the nod ahead of me and then I found out on the morning of the match that I was playing, so all of those memories flicking back to when I was a nine-year-old kid flooded in and all the hard work, the sacrifices, the injuries, overcoming adversity, the people saying I was not good enough, those (thoughts) flashed through my mind in that instant. “I was like, ‘You know what? I’ve worked so hard to get here, let’s just have fun and enjoy it’. And that is exactly what I did.” But those who had watched Lee in the Sheffield Shield match a week earlier were far from surprised, with Australian wicketkeeper Adam Gilchrist saying his quality demanded a debut. “It was just dynamic. We all knew at that point in time that Australian cricket had an unbelievable talent on their hands,” he said. “It was just a matter of when he would make the transition from state cricket up to the biggest stage. And there is no bigger stage than the Boxing Day Test match and he looked very comfortable right from the start.” So rapidly was Lee bowling, Mark Waugh was forced to stand further back in the slips cordon than ever before in the Sheffield Shield match and was certain he would play. “We knew how good he was,” he said. “He had done well for New South Wales and when you are bowling 150km/h and you can swing the ball as well — he could swing the ball and a couple of his deliveries did swing away from the left-handers and back into the right-handers — and he had the intimidation factor as well.” Angel, who played the last of his four Tests for Australia against England in 1995, could testify to that. “It was no real surprise because he bowled beautifully in Perth. He bowled quickly but he swung the ball. And he did the same in Melbourne in that Test match against India,” he said. “When you can bowl that quick, that is one thing, but when you are swinging the ball, it is just a double-edged sword. It is a bit like when Mitchell Starc is at the top of his game. That is when he is swinging the ball, because he bowls quick enough, but then you have to factor in the swing as well, and it makes it very hard. “Binga bowled brilliantly in Perth and he just carried it on in the Test match. They got him in while he was doing well and he went from strength to strength from there.” THE PUPPY DOG UNLEASHED: “HE WAS ALWAYS GOING TO BE A HANDFUL” Lee may have felt nervous but he had time to settle after Australia batted first at the MCG, in a weather-interrupted innings as they sought to further their dominance of India. While none of Australia’s star-studded top order made centuries, several scored heavily as the hosts batted through to the third day on the way to a first innings total of 405. Michael Slater top-scored with 91, while Gilchrist made 78 and Ricky Ponting 67 batting at No.6. But in a sign that Lee, who batted at No.10, had an appetite for the occasion, he shared a 59-run partnership with Damien Fleming before falling caught and bowled to Javagal Srinath for 27. It was not long before he demonstrated the nightmare he would become for rival batsmen, with Waugh deciding he would give the emerging star “a crack at it” before lunch. As Lee stood at the top of his mark when introduced into the attack in the fifth over of the Indian innings, he took a moment to “enjoy the experience”. While the MCG was not at its 100,000 capacity, it felt like that to the young Australian living out a boyhood dream as he prepared to bowl with Indian champion VVS Laxman and the left-hander Sadagoppan Ramesh at the crease. “It is weird, because being an Australian and having 100,000 people there — 90-odd thousand were barracking for Australia — and being the new kid on the block, I think a lot of people want to see that young kid do well,” Lee said. “People, I think, appreciate fast bowling. It wasn’t a hard sell for me. I wanted to make sure I delivered and hopefully get some wickets. “But personally, and looking at the calibre of players I had around me — Steve and Mark Waugh, Ricky Ponting, Justin Langer, Matthew Hayden, Shane Warne, Glenn McGrath — I could not believe I was in the team, to be honest. It was the most surreal, unbelievable feeling.” On his fourth delivery, Lee ran in and knocked Ramesh’s off-stump over. A star was born. “I remember him charging in and looking a little bit nervous, but then the fourth ball cluttered into the stumps and he got his first wicket,” Gilchrist said. “It was like a big sigh of relief from him, not just to make his debut, but to have an impact, and he ticked that box. Then he really just got into his work and it was so impressive.” In an interview not long after his debut, Lee conceded he was “anxious” and that he was “happy to hit the pitch first-up”. But it sparked his appetite further. “I thought now I have taken one wicket, I wouldn’t mind a few more. And that becomes that love affair that you have with cricket,” he said. The second wicket was a special one, with Lee tempting Rahul Dravid into a luxurious bid for a cover drive that he instead edged through to Gilchrist behind the stumps. “He was just like a big puppy dog who had been let off the lead,” Mark Waugh said. “He had that raw energy and he just lifted the mood of the dressing room because he was always smiling. I wouldn’t have liked to bat against him but he was always good to play with if he was on your side. I don’t think there is anything more exciting in cricket than watching a fast bowler rip in and when he is on your side, it is even more exciting. “India would not have seen much of him, so those factors — the raw pace, that he could swing the ball, the intimidation, charging in like a puppy dog off a leash — he was always going to be a handful.” “HE GAVE AS GOOD AS HE GOT”: FROM THE BACKYARD TO THE BIG TIME It is no surprise that Lee initially thought of his boyhood in the instant after being told he would debut for Australia, because it was in the backyard where his skills were honed. That ability to swing the ball? Early lessons controlling a taped tennis ball helped. His defiance with the bat? As a little boy pitted against Shane, he wore some blows. “We used to cut the edges off the bat, so they were quite thin. We would tape up the tennis balls, so we could swing it both ways,” Shane Lee said. “And like Bradman used to do with a cricket stump against a corrugated iron tank, we would do similar things and try and make it harder for us in the backyard, so that when you finally went out into the middle, it was a lot easier. “I have really fond memories of growing up down on the south coast, (because) having a young fast bowler Brett Lee was always good practice in the backyard.” It was not the only lesson Lee learned when pitted against Shane and their younger brother Grant, who the Australian star once said could well have been the best of them all. He was also taught that life in the middle is never easy, no matter how skilled you are. “My highest score in the backyard was 434 and then I bowled Brett out about second ball and I went inside and Brett was crying and mum gave me a smack and said, ‘Go out and bowl to your brother. He has just bowled at you for four hours’,” Shane Lee said. “So I did that (and) I think I knocked him over for 12 in the second innings. (But) it was always good fun. “He gave as good as he got and he always had a beautiful action from a young age. It was very, very rhythmic and very strong. I think Brett bowled 150km/h for nearly 20 years and he was a tremendous athlete.” While Lee was a handful immediately at Test level, from the Boxing Day Test he was taught by the “Little Master” that international cricket was a step up from the domestic scene. Sachin Tendulkar was imperious at the MCG, making a superb 116 when playing an almost lone hand, though he did share a 77-run partnership with Sourav Ganguly. “I think Sachin scored one of the great hundreds in that innings but he faced some terrorising bowling from Brett, and that was the start of a really healthy rivalry between those two and a very healthy rivalry between us and that Indian group of players as well,” Gilchrist said. LEE LEVELS WITH LILLEE IN HISTORIC DEBUT After Glenn McGrath secured Ganguly, Lee returned to the fray, with his pace and swing proving far too good for the Indian lower order in a dazzling burst of brilliance. In the space of an over — the 59th of the Indian innings — Lee bowled MSK Prasad and trapped Ajit Agarkar LBW to set up a hat-trick ball. That eluded him but at the end of the over he claimed his fifth wicket for the innings when Srinath fended a short-pitched delivery to Mark Waugh at second slip. In commentary, the excitement in former English captain Tony Greig’s voice was clear. “What a day. Five wickets on debut. Brett Lee has brought the MCG alive,” Greig said. In finishing with 5-47 from 16 overs, the new sensation became the first Australian fast bowler since Dennis Lillee in Adelaide during the 1970/71 Ashes to take five wickets on debut. “I played as good as I possibly could but to pick up five wickets against India at the MCG in 1999, with close to 100,000 people watching, I still can’t believe it happened, to be honest,” Lee said. Determined to chase quick runs in a rain-marred Test, Gilchrist was promoted to No.4 and made 51 from 73 balls, while Mark Waugh finished unbeaten on 55 as Australia declared at 5-208, setting India a target of 376 to win in four sessions. It was never going to happen. The Aussies steamrolled India for 195, with Lee snaring the wickets of Dravid and Srinath for the second time in the match to finish with figures of 2-31 from 19 overs. It was a debut that caught the attention of world cricket, with old rival England in particular keeping a close watch on the new speedster from the south. “I do remember his debut because I was watching it and I thought, ‘Oh no. I might have to face him soon’. He was barging in with those blond locks and bowling rockets,” former England captain Michael Vaughan said. “He had a pure action, so he actually showed you the ball, but when it is coming at 92 to 95m/ph, and there was always a bit of away shape to the right hander, it didn’t matter that he had a pure action and you can see it, because it was coming down at a huge rate of knots. “And he was nasty. He is a beautiful guy. A lovely guy off the pitch who will do anything for you. But when he had a ball in his hand, he wanted to hurt you. As a batter, that is never nice.” THE FAST TRACK TO A FULFILLING FRIENDSHIP Lee played 76 Tests and sits in Australia’s elite bracket in terms of wickets at that level with 310 at an average of 30.81, retiring after a match against South Africa at the MCG in 2008. The Fox Cricket expert also secured 380 wickets in 221 one-day internationals for Australia and played professionally until 2015. His deeds at the MCG are among his favourite, with good reason, for it was the start of a positive relationship with India and its cricketers that he has cultivated for three decades. “I’ve been coming to India for 30 years and I think my count is 165 times that I have been there,” he told The Follow On. “I have been through several passports in terms of the book being filled up, but I have just taken so many great memories away from India. “The hospitality — people over there are so generous — and when they find out that you have played cricket and you have been lucky enough to represent your country, you get looked after pretty well in India.”
Romanian coalition government secures parliament confidence voteC$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with this offering will be accessible through SEDAR+ within two business days. TORONTO , Dec. 3, 2024 /PRNewswire/ - Manulife Financial Corporation (" MFC ") announced today that it intends to issue $1 billion principal amount of 4.064% fixed/floating subordinated debentures due December 6 , 2034 (the " Debentures "). MFC intends to file a prospectus supplement to its existing base shelf prospectus in respect of this issue. The Debentures will bear interest at a fixed rate of 4.064% until December 6, 2029 and thereafter at a rate of 1.25% over Daily Compounded CORRA. The Debentures mature on December 6, 2034 . Subject to prior regulatory approval, MFC may redeem the Debentures, in whole or in part, on or after December 6, 2029 at a redemption price equal to par, together with accrued and unpaid interest to, but excluding, the date fixed for redemption. The Debentures will constitute subordinated indebtedness, ranking equally and rateably with all other subordinated indebtedness of MFC from time to time issued and outstanding (other than subordinated indebtedness which has been further subordinated in accordance with its terms). The offering is being done on a best efforts agency basis by a syndicate co-led by RBC Capital Markets, CIBC Capital Markets and Scotiabank. The offering is expected to close on December 6, 2024 . MFC intends to use the net proceeds from the offering of the Debentures for general corporate purposes, including investment in subsidiaries and potential future redemptions of existing securities. The Debentures have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the " Securities Act "), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States and any public offering of the securities in the United States must be made by means of a prospectus. Access to the prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with the offering of the Debentures is provided in accordance with securities legislation relating to procedures for providing access to a prospectus supplement, a base shelf prospectus and any amendment thereto. The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with the offering will be accessible within two business days at www.sedarplus.ca . An electronic or paper copy of the prospectus supplement, the corresponding base shelf prospectus and any amendment to the documents may be obtained, without charge, from RBC Capital Markets by email at torontosyndicate@rbccm.com or phone at 416-842-6311, CIBC Capital Markets by email at mailbox.cibcdebtsyndication@cibc.com or phone at 416-594-8515 or Scotiabank by email at syndicate.toronto@scotiabank.com or phone at 416-863-7438. About Manulife Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada , we provide financial advice and insurance, operating as Manulife across Canada , Asia , and Europe , and primarily as John Hancock in the United States . Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as 'MFC' on the Toronto , New York , and the Philippine stock exchanges, and under '945' in Hong Kong . Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/manulife-announces-subordinated-debenture-issue-302321737.html SOURCE Manulife Financial Corporation
OpenAI releases Sora, its buzzy AI video-generation tool