
President-elect Donald Trump on Dec. 4 nominated businesswoman and former Georgia Sen. Kelly Loeffler to lead the Small Business Administration (SBA). Loeffler, 53, co-chairs the president-elect’s second inaugural committee with Las Vegas real estate developer Steve Witkoff. The role of SBA administrator requires Senate confirmation. Loeffler, raised on an Illinois corn and soybean farm, served in the Senate from 2020 to 2021. She was appointed by Gov. Brian Kemp in 2019 following the Dec. 31 resignation of former Sen. Johnny Isakson (R-Ga.). She lost a 2020 special election in a 2021 runoff to Sen. Raphael Warnock (D-Ga.). “Prior to her tenure in the U.S. Senate, Kelly built a 25-year career in financial services and technology,” Trump said in the post. The SBA is an independent Cabinet-level federal agency dedicated to promoting and supporting small businesses in the U.S. economy. Created by President Dwight Eisenhower in 1953, the SBA maintains a vast network of field offices and partnerships. SBA staff help entrepreneurs start and build companies by counseling small business owners, expanding access to federal contracts, and connecting these entities with lenders for funding. In Trump’s first term, he had four SBA administrators, including Linda McMahon, who is now Trump’s Education Secretary nominee. Isabel Casillas Guzman currently heads the SBA, taking over from Tami Perriello in March 2021. “With 95 percent of the world’s consumers based outside of the United States, our small businesses need access to markets abroad to grow and create good jobs in America,” Guzman said in a statement. Over the years, the federal agency has come under scrutiny over its mandate. In the past decade, reports have highlighted that the SBA has often helped larger businesses.SMITHFIELD, R.I. (AP) — Malik Grant rushed for 204 yards and three touchdowns and Rhode Island beat Bryant 35-21 on Saturday to capture its first league title in 39 years. Rhode Island (10-2, 7-1 Coastal Athletic Association) secured the program's seventh title, with each of the previous six coming in the Yankee Conference. The Rams tied a program record for total wins in a season with 10, first set in 1984 and matched in 1985. Hunter Helms threw for 209 yards with one touchdown and one interception for Rhode Island. Grant also added his first touchdown reception of the season. Grant rushed for 47 yards on the first snap of the second half. He ran for 56 yards on the drive that ended with his 4-yard touchdown catch for a 20-14 lead. An interception by Braden Price on the ensuing Bryant possession set up another Grant rushing touchdown. Bryant scored in the fourth quarter to make it a one-score game, but a 15-play, 72-yard drive ended with a 3-yard touchdown run by Grant. Grant's 13 rushing touchdowns are tied for Rhode Island's single-season record set last season by Ja’Den McKenzie. Brennan Myer threw for 189 yards with two touchdowns and two interceptions for Bryant (2-10, 0-8). Dylan Kedzior rushed for 80 yards and a touchdown, and Landon Ruggieri caught eight passes for 105 yards and a score. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
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A man tears up a photo of Syrian President Bashar al-Assad in Serbia (Image: AP/Darko Vojinovic) Bashar al-Assad was secure in power right up until the moment he wasn’t, which it turns out was November 30, when the northern city of Aleppo — or what was left of it after Assad and his Russian and Iranian allies devastated the city and murdered tens of thousands of its inhabitants between 2012 and 2016 — fell to the forces of the Hayat Tahrir al-Sham-led alliance. Few observers picked that a full-scale collapse of the Assad regime was imminent — the fall of Aleppo was merely a “significant threat”, according to the sober-minded Foreign Policy . Then Homs, a city far to the south and more than halfway to Damascus, fell at the end of last week and it became clear an Afghanistan-style collapse was happening to a regime that had appeared immovable. Assad has now reportedly retreated to Moscow, now the guest of another monster. It’s an outcome he could have obtained more than a decade ago with some honour and international credit if he had stepped down in the face of Arab Spring protests against his vicious rule. Don’t let the hard left, the propagandists and apologists for Assad tell you otherwise: the removal of this monster is an unmitigated good. He is responsible for the slaughter of at least half a million people , including more than 160,000 civilians. His regime’s systematic use of torture and sexual violence — against women , men and children — is a matter of record, as is his use of chemical weapons and illegal munitions on his own citizens. The only pity is that he wasn’t dragged from a ditch by his enemies like Muammar Gaddafi, but will instead enjoy the luxury of exile. ‘This is the toughest time since the genocide began’: Famine continues to spread across Gaza Read More But like the welcome overthrow of Gaddafi did for Libya, Assad’s removal only rolls the dice on Syria’s political future rather than guaranteeing any sort of better world. The Libyan example demonstrates the chaos and misery that can follow the removal of a tyrant, as well as the consequences for the broader region (ask Italians about the scourge of mass illegal migration caused by Gaddafi’s removal, and the impact it has had on the nation’s politics). The leader of Hayat Tahrir al-Sham, Ahmad al-Sharaa (formerly Abu Mohammed al-Golani), might seek to portray himself as an unusually pluralist kind of Islamist militant, but as yet there is no evidence he can hold Syria together any more than Assad could in the face of multiple factions and a continuing Russian presence — or that he won’t resort to the same brutal measures to hold on to the territory he’s now claimed. At this point, Libya Mark 2 would seem to be the most likely outcome, despite the celebrations in Syrian cities, with the Islamic State poised to try to take advantage. Assad’s deposition is a very late win for the Biden administration, which, like the Obama administration, has continued to fund and arm whichever Syrian rebels it determined were the least worst. It’s also an illustration of the limits of Vladimir Putin’s power. The once mighty Russia now can’t prop up its closest allies even with the support of Iran and major terrorist groups like Hezbollah. All Putin can do is offer a safe haven for the fleeing tyrant. It’s also problematic for Donald Trump, whose famously subtle idea of “diplomacy” will be tested by having to find a way to help prevent Syria from falling into chaos. He could start by ditching Tulsi Gabbard as his pick for director of national intelligence given her enthusiastic support for Assad . You may, if you’re a glutton for punishment, remember Murdoch buffoon Greg Sheridan lauding Trump as having “ greater deterrent credibility ” than Kamala Harris. Sheridan has never explained how appointing a Putin and Assad supporter as director of national intelligence demonstrated “greater deterrent credibility”, but the case, such as it is, took an almighty hit over the weekend. Have something to say about this article? Write to us at letters@crikey.com.au . Please include your full name to be considered for publication in Crikey’s Your Say . We reserve the right to edit for length and clarity.
Explained: Why Bitcoin May Soon Cross $1,00,000 Mark After Trump's Return
India and the European Union (EU) have laid the groundwork for major advancements in the green hydrogen sector, confirming a detailed roadmap that promises to enhance infrastructure and technological cooperation while streamlining supply chains. In a significant meeting at the 10th India-EU Energy Panel held in Brussels, both parties engaged in intensive discussions aimed at bolstering sector cooperation. During this meeting, they adopted a comprehensive work plan marking the third phase of the India-EU Clean Energy and Climate Partnership for 2025-2028, focusing on five key priority areas. These areas of focus include advancements in green hydrogen, offshore wind energy, electricity market integration and smart grids, and energy efficiency. The panel also reviewed their achievements from the previous phase, highlighting their collaborative efforts in 51 activities across nine sectors. (With inputs from agencies.)Meta Announces Quarterly Cash Dividend
Philadelphia's Joel Embiid scored 31 points and pulled down 12 rebounds in his return after missing seven games to spark the 76ers on Sunday in a 108-100 NBA victory at Chicago. Embiid had been sidelined by a left knee injury and personal reasons since a November 20 loss to Memphis, the Sixers going 4-3 in his absence. The 30-year-old Cameroonian-born big man, who wore a left knee brace, also added four assists and two blocked shots in 33 minutes in only his fifth game of the season. "He caught fire there," 76ers coach Nick Nurse said of Embiid. "Certainly he gave us a lot of confidence." Philadelphia guard Tyrese Maxey contributed his first career NBA triple-double with 25 points and career highs of 14 assists and 11 rebounds. "It was good," Maxey said. "The offense flowed really well. Pick and roll was really good. I was able to get everybody involved, get Joel going and get myself going too." "He turned on the jets and got to the rim at some pretty opportune times," Nurse said of Maxey. Embiid was a welcome court presence for the 76ers. "He creates so much space for us on the floor, gets the attention," said Maxey. "I didn't see one pick and roll double team for the first time in a long time." Zach LaVine led the Bulls with 30 points. At New York, Milwaukee's Giannis Antetokounmpo scored 34 points and grabbed 11 rebounds to lead the Bucks over the Brooklyn Nets 118-113. Damian Lillard added 15 points and 11 assists while reserve Bobby Portis contributed 23 points and Gary Trent Jr. scored 20 off the Milwaukee bench. Germany's Dennis Schroder led the Nets with 34 points. js/mlmTORONTO — Canada's main stock index rose Thursday, helped by strength in energy and utilities stocks, while U.S. markets moved lower ahead of reports on the labour market on both sides of the border. The S&P/TSX composite index closed up 38.86 points at 25,680.04. In New York, the Dow Jones industrial average was down 248.33 points at 44,765.71. The S&P 500 index was down 11.38 points at 6,075.11, while the Nasdaq composite was down 34.86 points at 19,700.26. Friday will bring the monthly jobs reports in both the U.S. and Canada, which markets will be eyeing for clues on upcoming interest rate decisions by central banks, said Kevin Headland, co-chief investment strategist at Manulife Investment Management. The U.S. Federal Reserve has several key data reports coming before it makes its own decision on Dec. 18, said Headland, including inflation. Markets are currently leaning toward a quarter-percentage-point cut from the Fed, he said. But “there’s a lot of data for them to digest before the announcement.” The Bank of Canada’s decision is next week, and Headland said markets seem to think there’s a good chance the central bank could cut by an outsized half-percentage point. “In my belief, the bank is trying to front-run the mortgage renewals that are coming due over the next year or so, to just avoid some of the bigger hits to discretionary spending,” said Headland. “There’s no reason for them not to continue rate cuts unless there’s a surprise tomorrow.” Canadian bank earnings continued to roll in on Thursday. CIBC saw its profit rise while its provisions for loan losses dropped. TD also saw its profit rise, though its adjusted earnings were lower as the bank continues to work through the fallout from its anti-money laundering deficiencies. Meanwhile, BMO’s earnings were a miss on analyst expectations but the bank said it expects loan performance to improve in 2025. So far, there haven’t been any major surprises from bank earnings overall, said Headland. Bitcoin continued its meteoric rise, briefly breaching US$100,000 for the first time after U.S. president-elect Donald Trump tapped crypto advocate Paul Atkins to head the Securities and Exchange Commission. “US$100,000 is definitely a psychological threshold,” said Headland. “I guess time will tell whether it can remain at that level,” he added. “If we’re getting downside pressure to risk assets, I would assume that Bitcoin and other companies will be swept up in that negativity.” But for now, the surge is indicative of the broader positive momentum markets have enjoyed since Donald Trump’s election, said Headland. The Canadian dollar traded for 71.24 cents US compared with 71.09 cents US on Wednesday. The January crude oil contract was down 24 cents at US$68.30 per barrel and the January natural gas contract was up four cents at US$3.08 per mmBTU. The February gold contract was down US$27.80 at US$2,648.40 an ounce and the March copper contract was down a penny at US$4.19 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 5, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian Press