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Home | Business | Ola Electrics Stock Falls Around 3 Per Cent After Fresh High Level Exits Ola Electric’s stock falls around 3 per cent after fresh high-level exits Chief Marketing Officer Anshul Khandelwal and Suvonil Chatterjee, Chief Technology and Product Officer, step down from their roles citing personal reasons By IANS Published Date - 30 December 2024, 10:56 AM New Delhi: The share of Ola Electric fell around 3 per cent on Monday after some fresh high-level exits at the company, including its Chief Marketing Officer Anshul Khandelwal and Suvonil Chatterjee, Chief Technology and Product Officer. On Monday, the share was trading less than Rs 86 apiece, after falling nearly 3 per cent. Khandelwal and Chatterjee stepped down from their roles at the company, effective December 27, citing personal reasons. Both executives initially joined Ola’s ride-hailing business before transitioning to Ola Electric Mobility. Several top executives of the company have tendered their resignations this year as the company faces mounting pressure. N Balachandar, Group Chief People Officer, left the EV company in November after overseeing HR for Ola Electric, Ola Cabs, and Krutrim AI. In October this year, Ravi Jain, Business Head of Krutrim AI, and Sidharth Shakdher, CBO of Ola Mobility, left the company. After a blockbuster sales figure in October due to the festive season, Ola Electric vehicle registrations dropped by 33 per cent in November. According to Vahan portal data, the number of registrations of Ola Electric vehicles in November fell by 33 per cent on a month-on-month (MoM) basis to 27,746 units. In October last year, this figure was more than 40,000 units. Due to fewer registrations, the company’s market share dipped to 24 per cent in November, which was 30 per cent in October. However, the company still maintains the first position in the electric two-wheeler market by sales. Bhavish Aggarwal-led Ola Electric has seen volatility in sales in recent months. The reasons for this were attributed to increasing competition in the market and poor service and product quality. Follow Us : Tags Anshul Khandelwal BSE Ola Electric Sensex Related News Rupee falls 5 paise, hits all-time low of 85.16 against US dollar Adani Group stocks extend rally for third straight day; Adani Green jumps 15% Shares of nine Adani Group firms trade higher; Adani Total soars 19% Sensex, Nifty rebound on Adani stocks rally and foreign fund inflows
Leafs head into Christmas break on a downer in loss to Jets
Visualizing Business Processes: Gokul Ramadoss documents future state solutions with VISIO diagramsThe first days in Austin as a freshman representative, the drive to Austin is approximately three hours from Huntsville for Trey Wharton. Elected in November 2024 as the Texas State Representative for District 12, Wharton has been going to Austin a day or two about every other week for the past several months. “The reason for that is to meet with other officials, incumbent legislators, and incoming freshman in Austin,” Wharton said. “It will be very helpful to have relationships with several others already established when the 89th Session starts in January.” Wharton is a businessman, community leader, and a longtime trustee on the Huntsville ISD School Board. He is a graduate of Huntsville High School, and attended Texas Christian University where he earned a Bachelor of Business Administration-Finance degree. He has been married to his wife, JoLynne, for over 33 years and has two adult children. House District 12 includes all of Grimes, Madison, Robertson, Walker, and Washington County, and part of Brazos County. “Currently, I am in my actual work office about a day and half a week and then again on Saturdays to ‘catch-up’ on things that my team has been working on all week, while I have been either in Austin or traveling around the district,” Wharton said. “I would not be able to do this without their support and they have been doing a phenomenal job over the past 12 months, while I was out on the campaign trail.” While Wharton is out in the district, he usually has two to three scheduled meetings and an event to attend those same evenings. “It is rewarding to get to meet people and learn more about their community and what challenges they may be dealing with,” Wharton said. “There are many different issues across the district and state. I am spending a lot of my time educating myself and learning from others with their experience about those issues, so that I can be as effective as possible in this role.” The procedure of determining seniority for each incoming class is “probably the most interesting and funny method that I had no idea happens,” Wharton said. To determine where each representative’s office, house floor desks and parking spaces will be, is done by the least technological advanced manner. “We literally draw ping pong balls to determine the ranking,” Wharton said, laughing. The list of freshman legislators is broken down into several categories ranging from alphabetical last name, alphabetical first name, and district number. “Someone draws to determine the order the ping pong balls will be drawn and then each representative draws their own ping pong ball in that order,” Wharton said. His group drew the method of “last name alphabetically” and that meant he was going to be the last one out of 30 to draw. “I did prevail and got number 6 after everyone else had picked,” said Wharton, noting that the end of the line has its value. “You then spend half a day looking at all the available offices, parking spaces and desks on the house floor to determine what works best for you and what other legislators you will be neighboring with in the same hallway and on the floor,” Wharton said. “Fortunately, I have an experienced Chief of Staff who was able to guide me in picking the most advantageous office and desk on the Chamber Floor.” In the next issue of The Item, we will be discussing some of Wharton’s top goals while in office. Contact Brenda Poe at editor@itemonline.com
hiladelphia Eagles quarterback ' concussion injury led the to make a scheduling change for Week 17 of the game against the . The game that was originally scheduled to take place on , will now take place at , while the game between the was put in its place. The game between will take place at , home of the Eagles. Hurts' shock during the first quarter of Sunday's Week 16 clash against the . Hurts took a hit on a carry down the middle of the field, and after an initial evaluation by medical services, he was ruled out for the rest of the game and placed in the concussion protocol. Now, what before the start of the season looked like an attractive duel between , became a game of that will pit . After Hurts left the game in the first quarter, the . Despite forcing five turnovers, the Eagles could not contain Washington's rookie quarterback , who led his team to a in a dramatic game, thanks to a touchdown in the last 6 seconds of the game. Eagles still fighting for best record in NFC Despite the loss, the have a two-game lead , with two games remaining in the regular season, and are still fighting for the possibility of being the best team in the National Conference, although . After the game against Dallas, Philadelphia will close its season at home against the , who currently have the worst record in the entire league at 2-13.Live from Empower Field, the Denver Broncos host the Cleveland Browns on Monday Night Football ! The Browns are back on primetime after their impressive Week 12 Thursday Night Football victory over the Pittsburgh Steelers. Cleveland fans are hoping that the extended rest could mean back-to-back upsets for the Browns, who enter MNF with a 3-8 record. On the other side of the field, Bo Nix and the Broncos are riding high after last week’s 29-19 win over the Las Vegas Raiders. The rookie quarterback has led Denver to a 7-5 record, which is pretty impressive when you consider the team’s preseason over/under win total was 5.5. Which team will exit Monday Night Football with a victory? We’re about to find out. Here’s how to watch tonight’s game live online. Who’s Playing Monday Night Football Tonight (December 2)? The Browns travel to Denver to battle the Broncos on Monday Night Football . What Time/Channel Is Monday Night Football On Tonight? The Broncos/Browns game starts at 8:15 p.m. ET on ESPN. Is The ManningCast On Tonight? Nope. But Peyton and Eli will return for the Week 14 matchup between the Bengals and Cowboys How To Watch The Broncos-Browns MNF Game Live Online: If you have a valid cable login, you can stream tonight’s game on ESPN, Watch ESPN, ABC, ABC.com, or the ESPN app. You can also watch with an active subscription to DirecTV Stream , fuboTV , Hulu + Live TV , Sling TV , NFL+ , or YouTube TV . FuboTV, Hulu + Live TV, and YouTube TV offer free trials for eligible subscribers. Monday Night Football 2024 Schedule:
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NoneTwo decades after the Indian Ocean tsunami: Building resilient coastal futuresThe Pittsburgh Steelers and Cincinnati Bengals will play in a primetime clash on Saturday at 8:00 p.m. That game will come after the Baltimore Ravens and Cleveland Browns suit up at 4:30 p.m., so the Steelers will know if they are playing for the AFC North title or just seeding. The Steelers could choose to rest starters if the Ravens win, but they will also want to play for seeding. There is a huge difference between playing the Houston Texans and the Ravens, at least on the betting market. Pittsburgh will look to finish the season out with a win over the Bengals, which would not only give them 11 wins but knock the Bengals out of the playoffs, thus ending their season. The Saturday game helps the Steelers on the other side for the playoffs as well. They will not have to play on a short week, even if they play on Saturday for a playoff clash with anyone. AFC North road teams are 2-13 in primetime matchups since 2019, so even though the Steelers have opened up as early underdogs, they have the advantage from that perspective. BETTING: Check out our guide to the best PA sportsbooks , where our team of sports betting experts has reviewed the experience, payout speed, parlay options and quality of odds for multiple sportsbooks. More Pittsburgh Steelers News Pittsburgh Steelers likely to play in Ireland game in 2025 Three former Pittsburgh Steelers quarterbacks throw touchdowns for new teams Former Pittsburgh Steelers quarterback helps lead new team to division title Possible Pittsburgh Steelers playoff opponent eliminated Potential Pittsburgh Steelers playoff opponents revealedSEATTLE (AP) — The Seattle Seahawks took a bumpy path to sole possession of first place in the NFC West. Sunday's 26-21 win over the Jets featured several special teams miscues, including a 99-yard kickoff return for a touchdown by New York. On the flip side, the Seahawks got their second pick-6 in as many weeks and just enough production by Geno Smith and the offense. The Seahawks' uneven performance was characteristic of a season in which they started 3-0, then lost five of six before winning another three in a row to take command of their underachieving division. Seattle (7-5) leads Arizona by one game, with a matchup against the Cardinals looming next weekend. Zach Charbonnet gave Seattle its first lead of the day on an 8-yard touchdown run with 5:37 to go, and the Seahawks' defense capped another strong outing with a game-sealing stop on fourth down. After a sack by Leonard Williams gave the Jets a fourth-and-15 at the 34-yard line, Aaron Rodgers threw a desperation pass to Garrett Wilson that fell incomplete, giving Seattle the ball with 33 seconds left. Williams is on a tear. After losing out on NFC defensive player of the week honors last week to teammate Coby Bryant despite 2 1/2 sacks and four quarterback hits, “Big Cat” had an even better game. Williams finished with two sacks, three tackles for loss, a 92-yard interception return for a touchdown that was the longest pick-6 in NFL history by a defensive lineman, and a blocked extra point. The touchdown was the first of Williams’ career. He became the first player since 1982 with multiple sacks, an interception return for a touchdown and a blocked kick in a game. Maybe this week the league will agree he was the NFC's best defender. The special teams could not have been much worse in the first half. The Seahawks fumbled three kickoffs, losing two, and allowed Kene Nwangwu's 99-yard kickoff return for a TD. Dee Williams fumbled on a kickoff in the first quarter to give New York the ball at the 27-yard line, and four plays later, Rodgers hit Isaiah Davis for a touchdown to give the Jets a 14-0 lead. Laviska Shenault Jr. muffed two kicks and fumbled at the Seattle 38-yard line in the second quarter. Seattle also had an extra point blocked. Smith led his third game-winning drive of the season and his 11th since he became Seattle’s starting quarterback in 2022. Facing the team that drafted him in 2013, Smith went 20 of 31 for 206 yards and a touchdown. For the first time in five weeks, he was not intercepted. The Seahawks trailed by 14 points on two occasions, but Smith brought Seattle back while avoiding the untimely picks that dogged him recently. He threw a 12-yard touchdown pass to A.J. Barner in the second quarter, and led the Seahawks on a go-ahead nine-play, 71-yard touchdown drive late in the fourth quarter. Coach Mike Macdonald and his staff have to address the problem with their kick returners, Shenault and Dee Williams. Two lost fumbles and several muffs could have easily cost Seattle the game. WR DK Metcalf left the game briefly with a knee issue but returned. ... P Michael Dickson was unavailable in the fourth quarter because of back spasms. 38 — The Seahawks decided to go for it on fourth-and-6 at their own 33-yard line with 9:34 left in the game. A primary reason was that Dickson was unavailable to punt because of back spasms. The Jets were flagged for having 12 men on the field after sending a punt returner out, which gave Seattle fourth-and-1 at the 38. The Seahawks got a first down after Jets cornerback Quantez Stiggers was flagged for pass interference on Metcalf, and eight players later, Charbonnet scored to put Seattle ahead. Without going for it on fourth down from their own 38, the Seahawks likely would’ve lost. The Seahawks will seek a season sweep of the Cardinals. AP NFL: https://apnews.com/hub/nfl
Xerox Holdings Co. ( NYSE:XRX – Get Free Report )’s share price gapped up prior to trading on Monday . The stock had previously closed at $8.39, but opened at $8.99. Xerox shares last traded at $8.77, with a volume of 2,577,006 shares. Wall Street Analysts Forecast Growth A number of brokerages recently weighed in on XRX. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, Morgan Stanley reduced their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.50. Get Our Latest Report on XRX Xerox Stock Down 2.3 % Xerox ( NYSE:XRX – Get Free Report ) last released its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities research analysts expect that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year. Xerox Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio (DPR) is -9.06%. Institutional Inflows and Outflows Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in shares of Xerox by 26.1% during the 3rd quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock valued at $710,000 after purchasing an additional 14,164 shares during the last quarter. Geode Capital Management LLC grew its holdings in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after buying an additional 62,947 shares in the last quarter. Barclays PLC increased its stake in Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after acquiring an additional 167,500 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Xerox by 44.2% during the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock worth $1,582,000 after acquiring an additional 46,708 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Xerox by 39.2% in the third quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock valued at $398,000 after purchasing an additional 10,794 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors. Xerox Company Profile ( Get Free Report ) Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE. Featured Stories Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter .
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Sunday disclosed that Nigeria’s recent economic diplomacy efforts to Saudi Arabia had started yielding reasonable benefits, including investments, foreign exchange inflows, and job creation for the country. Edun had led a high-level delegation to Saudi Arabia to follow up on the president’s earlier engagements with the Saudi Crown Prince, Mohammed bin Salman. Edun, who spoke with newsmen after a brief meeting with President Bola Tinubu, stressed “What we have brought back is investment. What we have brought back is foreign exchange. What we have brought back are jobs for Nigerians” These efforts, the minister explained, are part of the administration’s broader strategy to attract foreign direct investment, trade partnerships, and financial collaborations. Highlighting a key achievement, Edun referenced the Saudi Agricultural Livestock Investment Company’s (SALIC) recent $1.2 billion investment in Olam Agri Holdings, which he described as a testament to the president’s reforms and the stabilisation of Nigeria’s macroeconomic environment. He added: “This type of transaction reflects the success of Mr. President’s strategy. It demonstrates the confidence global investors have in the steps being taken to attract and encourage such investments”. Besides, Edun stressed that the investments translate into direct job creation for Nigerians, as Saudi Arabia’s focus on investing abroad does not include exporting its own labour force. “Clearly, where they invest, that is jobs for Nigerians,” he maintained. He also stressed the government’s ongoing efforts to reduce inflation, particularly food inflation, through initiatives like dry-season farming, aimed at ensuring a bountiful harvest and lower food prices. “Every effort is being made to bring down the price of food and the cost of living for the average Nigerian,” Edun stated. The delegation to Saudi Arabia included representatives from the Central Bank of Nigeria (CBN), the Ministry of Budget and Economic Planning, and the Presidential Economic Coordination Council. The visit built on the president’s economic diplomacy efforts, which have taken him to various global capitals, including Brazil, China, India, Germany, and France. According to Edun: “The proof of the pudding is in the eating. When you see jobs being created and Nigeria’s foreign reserves being added to, that is success all Nigerians can understand.” The visit is expected to further strengthen Nigeria’s burgeoning relationship with Saudi Arabia and unlock more opportunities for economic growth and collaboration. Also, the Nigerian Economic Summit Group (NESG), one of the country’s foremost economic think-tanks, has proposed that if Africa’s most populous nation must achieve its proposed $4 trillion nominal Gross Domestic Product (GDP) by 2035, it must mobilise a total of $8.82 trillion. The organisation stated this in its H2, 2024 Economic and Policy Review (EPR) tagged: “ Achieving Economic Transformation in Nigeria.” Besides, the group noted that the ambition to hit $4 trillion in nominal GDP by 2035 in Nigeria should serve as a bedrock to achieving a sustained double-digit real GDP growth rate over the next decade until 2035, which should be in the range of 10 per cent to 15 per cent per annum. It argued that Nigeria remains at a crossroads, brimming with potential, yet grappling with the complexities of its historical socio-economic performance, stressing that although endowed with abundant human capital and vast economic resources, Nigeria’s current position on critical socio-economic indicators has not been impressive. By 2035, the NESG pointed out that Nigeria’s economy is poised to rank among the top 15 global economies, with a per capita income of $14,041.5, thereby propelling the country into the high-income category globally. Endowed with substantial human capital and economic resources, Nigeria, it said, has historically faced suboptimal socio-economic performance, with critical macro-economic and social indicators underscoring the compelling need for a thorough and all-encompassing rejuvenation of the economy. According to the NESG, the impetus behind achieving a $4 trillion economy by 2035 is rooted in the acknowledgement of Nigeria’s immense potential, abundant resources, and the necessity to expedite economic development to meet the burgeoning demands of its populace. “Expanding from less than a $500 billion economy to a $4 trillion GDP by 2035 has cost implications. Over the next 10-13 years, the Nigerian economy needs to mobilise a cumulative total of $8.82 trillion. “This comprises 18.8 per cent or $1.66 trillion of investment directly from the government, specifically on capital and infrastructure investment. The remaining 81.2 per cent or $7.16 trillion will be mobilised through the private sector, comprising existing and new capital accumulation and domestic and foreign investment flow. “As such, the government needs to spend $185.16 billion and mobilise $841.00 billion in private investment over the next four years (2024-2027) to set the pace for a transformed economy. Subsequently, the government needs to spend $501,46 billion and mobilise $2.24 trillion in private investment between 2028-2031. In the following cycle (2032-2035), the government must spend $957.04 billion while mobilising $4,05 trillion in private investment. “On average, the government has to spend $138.49 billion annually to achieve the envisioned $4 trillion GDP by 2035. With a cumulative funding need of $8.82 trillion within the next 10-13 years and an average of $737,16 billion annually, financing Nigeria’s $4 trillion GDP by 2023 appears daunting, however, not impossible,” it stated in the report. In an era characterised by rapid global economic changes, digital disruptions, and evolving geopolitical dynamics, Nigeria’s vision for 2035, NESG stressed, is set against a backdrop of formidable challenges and unparalleled opportunities. The global community’s commitment to sustainable development and the imperative of economic inclusion, the economic think-tank further said, underscores the significance of the pursuit. According to the group, the proposed pathways are intrinsically linked to the strategic objectives outlined in the President’s eight-point agenda, Nigeria Agenda 2050 and the African Union’s Africa Agenda 2063. “This is achievable considering the historical experience of Nigeria’s aspirational peers, such as China. The policy priority for the government includes developing a framework for the inter-governmental economic relationship, inter-state infrastructural development, establishing regional economic commissions, developing regional shared services and clustering, and strengthening regional value chain development. “During the initial stage of its economic transformation, China maintained an average real GDP growth rate of 10.3 per cent (from 1982 to 2011). Similarly, Japan and Germany maintained average growths of 10.5 per cent (1956 to 1973) and 9.2 per cent (1951 to 1960), respectively. “While the strategic paths aim to achieve a $4 trillion economy by 2035, they are also expected to drive improvement across socio-economic indicators. Irrespective of the strategic path, this study anticipates specific mutations in the fundamental structure of the economy that accompany a transforming economy,” the NESG noted. Moving towards the $4 trillion economy, and based on the country’s political cycle, the Nigerian economy, it maintained, could cross critical milestones of $1 trillion, $2.5 trillion, and $4 trillion by 2027, 2031, and 2035, respectively. “Furthermore, Nigeria’s per capita income is expected to cross $5,000, $10,000, and $14,000 by 2028, 2032, and 2035, respectively. Nigeria needs to massively mobilise savings to drive investment, as is the case for most countries that have experienced economic transformation over the past five decades. “But then, the continual erosion of the value of earnings due to the persistent inflationary pressure has limited Nigeria’s capacity to mobilise adequate savings. “Recent fuel subsidy removal and the exchange rate devaluation accompanying the unification of the foreign exchange markets have nearly wiped out the middle class, as most people spend over 80 per cent of their earnings on food and transport with little to zero room for savings. Hence, the government must attract capital from diverse sources to drive investment,” it added. With a visionary alignment of policies and strategic optimism, Nigeria’s economy, NESG said, possesses the potential to soar to $4 trillion within the same time frame, explaining that such growth promises expanded access to economic opportunities, uplifting millions from the depths of poverty. “According to the World Bank Group (2024), more than half of Nigeria’s population is living in poverty as of 2024. Meanwhile, as Nigeria navigates its path towards a $4 trillion economy, poverty would recede by an average of 10 million individuals annually,” the group stated. Therefore, the NESG proposed an export diversification and sophistication strategy for Nigeria to become a global export hub and regional integration champion of the African Continental Free Trade Area (AfCFTA), a free trade agreement that aims to create a single market for goods and services across the continent. It further called for innovation and digital transformation strategy in order to become a central global innovation hub and exporter of knowledge products to the world. Besides, the economic think-tank urged the country to embrace a subnational economic integration strategy to develop competitive and viable regions/sub-national economies. Deji Elumoye and Emmanuel Addeh Follow us on:
NEW YORK (AP) — Stocks wavered in afternoon trading on Wall Street Monday at the start of a holiday-shortened week. The S&P 500 rose 0.4%. A handful of technology companies helped support the gains. The Dow Jones Industrial Average slipped 63 points, or 0.2% as of 1:18 p.m. Eastern time. The tech-heavy Nasdaq composite rose 0.7%. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, rose 3%. Broadcom jumped 5.2% to also help support the broader market. Japanese automakers Honda Motor and Nissan said they are talking about combining in a deal that might also include Mitsubishi Motors. Honda rose 3.8% and Nissan rose 1.6% in Tokyo. Eli Lilly rose 3% after announcing that regulators approved Zepbound as the first and only prescription medicine for adults with sleep apnea. Department store Nordstrom fell 1.7% after it agreed to be taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. The Conference Board said that consumer confidence slipped in December. Its consumer confidence index fell back to 104.7 from 112.8 in November. Wall Street was expecting a reading of 113.8. The unexpectedly weak consumer confidence update follows several generally strong economic reports last week. One report showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The latest report on unemployment benefit applications showed that the job market remains solid. A report on Friday said a measure of inflation the Federal Reserve likes to use was slightly lower last month than economists expected. Worries about inflation edging higher again had been weighing on Wall Street and the Fed. The central bank just delivered its third cut to interest rates this year, but inflation has been hovering stubbornly above its target of 2%. It has signaled that it could deliver fewer cuts to interest rates next year than it earlier anticipated because of concerns over inflation. Expectations for more interest rate cuts have helped drive a 24% gain for the S&P 500 in 2024. That drive included 57 all-time highs this year. Inflation concerns have added to uncertainties heading into 2025, which include the labor market's path ahead and shifting economic policies under an incoming President Donald Trump. "Put simply, much of the strong market performance prior to last week was driven by expectations that a best-case scenario was the base case for 2025," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company Treasury yields edged higher in the bond market. The yield on the 10-year Treasury rose to 4.58% from 4.53% late Friday. European markets were mostly lower, while markets in Asia gained ground. Wall Street has several other economic reports to look forward to this week. On Tuesday, the U.S. will release its November report for sales of newly constructed homes. A weekly update on unemployment benefits is expected on Thursday. Markets in the U.S. will close early on Tuesday for Christmas Eve and will remain closed on Wednesday for Christmas.Bob Bryar's troubled final tweets revealed before My Chemical Romance drummer's death
The Prime Minister used an op-ed in the Mail on Sunday to vow to “get to grips” with the cost of welfare after figures suggested more than four million people will be claiming long-term sickness support by the end of the decade. Work and Pensions Secretary Liz Kendall will announce a package of legislation next week designed to “get Britain working” amid Government concerns about the projected rise. Official forecasts published by her department this week show that the number of people claiming incapacity benefits is expected to climb from a pre-pandemic figure of around 2.5 million in 2019 to around 4.2 million in 2029. Last year there were just over three million claimants. The Prime Minister wrote: “In the coming months, Mail on Sunday readers will see even more sweeping changes. Because make no mistake, we will get to grips with the bulging benefits bill blighting our society. “Don’t get me wrong, we will crack down hard on anyone who tries to game the system, to tackle fraud so we can take cash straight from the banks of fraudsters. “There will be a zero-tolerance approach to these criminals. My pledge to Mail on Sunday readers is this: I will grip this problem once and for all.” Ms Kendall’s white paper is expected to include the placement of work coaches in mental health clinics and a “youth guarantee” aimed at ensuring those aged 18-21 are working or studying.
The Trojans moved up three spots in the AP Top 25 after beating the then-No. 4 Huskies 72-70 on Saturday night in a rematch of last season's Elite Eight game that UConn won. "It feels great to get the dub always," USC star JuJu Watkins said after the victory. "I think it hit a little different knowing the history of last year and how they sent us home." This was the Trojans' first win ever over UConn. "This is a really significant win, and it's a really significant win because of the stature of UConn's program and what Geno Auriemma has done for our sport," USC coach Lindsay Gottlieb said. "It doesn't matter to me that they haven't won a championship in a couple years. There's still a way that they prepare, a way that they play, that makes you better, and it made us better." UCLA, South Carolina and Notre Dame remained the top three teams. The Bruins received 30 of the 32 first-place votes from a national media panel. The Gamecocks and the Fighting Irish each got one first-place vote. UConn fell to seventh behind Texas and LSU. Maryland, Oklahoma and Ohio State rounded out the top 10 teams. Duke dropped five spots to No. 14 after losing to South Florida on Saturday. The Blue Devils' other two losses this season were to Maryland and South Carolina. The Bulls are 7-6 on the season, with four of those losses coming against ranked opponents (UConn, Louisville, TCU and South Carolina). Alabama jumped back into the poll at No. 20 two weeks after falling out. The Crimson Tide had an impressive 82-67 victory over Michigan State, handing the Spartans their first loss of the season. It was Alabama's first victory over a ranked opponent this year. The Southeastern Conference has eight teams in the poll this week with Alabama's return. The Big Ten is next with seven. The ACC has six while the Big 12 has three and the Big East one. No. 23 Michigan at No. 4 USC, Sunday. The Wolverines start Big Ten play with a trip to Los Angeles to face the Trojans on Sunday and then the Bruins a few days later. Coach Kim Barnes Arico's young team is off to a 10-2 start.Lincoln day care being investigated after 5-month-old dies unexpectedly
HC Wainwright Weighs in on Sanara MedTech FY2024 Earnings