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NEW YORK (AP) — U.S. stocks are stabilizing Thursday following one of their worst days of the year . The S&P 500 rose 0.2% in late trading, a day after tumbling 2.9% when the Federal Reserve said it may deliver fewer cuts to interest rates next year than earlier thought. The Dow Jones Industrial Average was up 136 points, or 0.3%, with less than an hour remaining in trading, following Wednesday’s drop of more than 1,100 points. The Nasdaq composite rose 0.3%. Wednesday’s drop took some of the enthusiasm out of the market, which critics had already been warning was overly buoyant and would need everything to go correctly for it to justify its high prices. But indexes remain near their records , and the S&P 500 is still on track for one of its best years of the millennium . Traders are now expecting the Federal Reserve to deliver just one or maybe two cuts to interest rates next year, according to data from CME Group. Some are even betting on none. A month ago, the majority saw at least two cuts in 2025 as a safe bet. Wall Street loves lower interest rates because they give the economy a boost and goose prices for investments, but they can also provide fuel for inflation. Darden Restaurants, the company behind Olive Garden and other chains, helped lift the market after leaping 15.1%. It delivered profit for the latest quarter that edged past analysts’ expectations. The operator of LongHorn Steakhouses also gave a forecast for revenue for this fiscal year that topped analysts’. Accenture rose 6.7% after the professional services company likewise topped expectations for profit in the latest quarter. CEO Julie Sweet said it saw growth around the world, and the company raised its forecast for revenue this fiscal year. Amazon shares added 1.8%, even as workers at seven of its facilities went on strike Thursday in the middle of the online retail giant’s busiest time of the year. Amazon says it doesn’t expect an impact on its operations during what the workers’ union calls the largest strike against the company in U.S. history. They helped offset a tumble for Micron Technology, which fell 16.7% despite reporting stronger profit than expected. The computer memory company’s revenue fell short of Wall Street’s forecasts, and CEO Sanjay Mehrotra said it expects demand from consumers to remain weaker in the near term. It gave a forecast for revenue in the current quarter that fell well short of what analysts were thinking. Lamb Weston, which makes French fries and other potato products, dropped 22.6% after falling short of analysts’ expectations for profit and revenue in the latest quarter. It also cut its financial targets for the fiscal year, saying demand for frozen potatoes is continuing to soften, particularly outside North America. The company replaced its chief executive. In the bond market, yields were mixed a day after shooting higher on expectations that the Fed would deliver fewer cuts to rates in 2025. Reports on the U.S. economy came in mixed. One showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The economy has remained remarkably resilient even though the Fed held its main interest rate at a two-decade high for a while before beginning to cut them in September. A separate report showed fewer U.S. workers applied for unemployment benefits last week, an indication that the job market also remains solid. But a third report said manufacturing in the mid-Atlantic region is unexpectedly contracting again despite economists’ expectations for growth. The yield on the 10-year Treasury rose to 4.57% from 4.52% late Wednesday and from less than 4.20% earlier this month. But the two-year yield, which more closely tracks expectations for action by the Fed in the near term, eased back to 4.31% from 4.35%. The rise in longer-term yields has put pressure on the housing market by keeping mortgage rates higher. Homebuilder Lennar fell 4.8% after it reported weaker profit and revenue for the latest quarter than analysts expected. CEO Stuart Miller said that “the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose” through the quarter. “Even while demand remained strong, and the chronic supply shortage continued to drive the market, our results were driven by affordability limitations from higher interest rates,” he said. A report on Thursday may have offered some encouragement for the housing industry. It showed a pickup in sales of previously occupied homes. In stock markets abroad, London’s FTSE 100 fell 1.1% after the Bank of England paused its cuts to rates and kept its main interest rate unchanged on Thursday. The move comes as inflation there moved further above the central bank’s 2% target rate, while the British economy is flatlining at best. The Bank of Japan also kept its benchmark interest rate unchanged, and Tokyo’s Nikkei 225 fell 0.7%. Indexes likewise sank across much of the rest of Asia and Europe. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.IonQ ( IONQ 12.80% ) stock posted big gains in Friday's trading. The quantum-computing company's share price closed out the daily session up 12.9%. Meanwhile, the S&P 500 index ended the day roughly flat, and the Nasdaq Composite index closed out the session up 0.1%. IonQ stock gained ground today amid rising investor enthusiasm for quantum-computing stocks. The recent bullish surge in the space was kicked off earlier this week by the unveiling of Alphabet 's Willow chip, which has delivered a major leap forward in quantum capabilities. IonQ gets a boost from Alphabet's Willow On Monday, Alphabet 's Google division published a blog post detailing the achievements of its new Willow chip. The tech giant also published a report in Nature detailing the results of a benchmark test achieved by the chip. Google's Willow chip managed to complete a random circuit sampling (RCS) benchmark computing test in less than five minutes. These tests are used as a way to measure the capabilities and efficiency of quantum-computing machines at tasks that are far more difficult for traditional computers. For comparison, Google says that the benchmark computing test completed with its Willow chip would have taken one of the world's top supercomputers 10 septillion years to finish. As a result of Willow's benchmark test results, Alphabet saw a significant uptick in bullish momentum. IonQ stock initially fell following the Willow news, but it gained ground today as investors poured into quantum-computing stocks. But even with today's gains, the company's share price still ended the week down 11.5%. What comes next for IonQ stock? Alphabet is potentially a competitor for IonQ in the quantum-computing space. Additionally, it's a much larger company and has access to much greater computing and financial resources. Accordingly, it's difficult to map out what exactly the achievements of Google's Willow chip will mean for the smaller company's long-term performance outlook. On the other hand, the Willow chip appears to have solved a significant problem in quantum computing -- and that could ultimately be a good thing for IonQ. The Willow chip has actually been able to deliver lower error rates as qubits within the system are scaled. This marks a major departure, as error rates have normally increased in conjunction with the number of qubits. Google also says that errors are able to be corrected in real time within the Willow circuit. The chip's impressive technology could wind up being utilized by IonQ at some point. Alternatively, the company could aim to produce similar technological results on its own now that the significant qubit scaling result has been achieved. While commercial applications for quantum computing aren't expected to arrive before 2030, recent progress for the technology and the potential for it to power huge leaps forward for artificial intelligence and other categories could continue pushing IonQ stock higher.None
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Labour Minister Phiphat Ratchakitprakarn has pledged full support for 859 former employees of Yarnapund Co Ltd who were laid off without receiving severance pay. The layoffs, announced on Nov 26, have left many struggling financially. Approximately 200 affected workers, led by Veerasak Lupa, president of the Yarnapund Workers' Union, submitted a petition to the Ministry of Labour yesterday calling for intervention. Mr Phiphat assured the workers his ministry would expedite assistance. Employees were advised to file complaints with labour inspectors to initiate legal proceedings and gain access to the labour union welfare funds. The ministry will also summon the company's management. Meanwhile, the Department of Employment (DoE) has been asked to match laid-off workers to new job opportunities. The Social Security Office (SSO) will process unemployment benefits for them worth 50% of monthly wages for up to 180 days. Compensation disputes arose after the company failed to honour its promise to pay severance in instalments, comprising 70% due last Friday, 20% due this Friday and 10% due on Jan 27. Protests ensued, with workers rallying outside the company and the owner's home, demanding immediate payment. Demonstrators have set up tents and plan to continue a peaceful protest for at least three days. One affected worker, Somnuek (surname withheld), 51, who worked for the company for 30 years, expressed deep frustration, highlighting his loyalty to the firm. Forced to vacate his rented room, he now must sleep in front of a local store. The labour union expressed cautious optimism after the minister promised swift action. However, workers remain resolute, vowing to escalate their protests if results are not seen soon.
VICTORIA — British Columbia Premier David Eby says his fellow premiers and the federal government have hatched a game plan to fight U.S. tariffs, with conservative premiers lobbying Republican counterparts, left-leaning provincial leaders courting the Democrats, and Ottawa focusing on president-elect Donald Trump. The premiers and Prime Minister Justin Trudeau talked about using their political diversity and connections to thwart the prospect of Trump's proposed 25 per cent tariffs on imports from Canada and Mexico, Eby said Thursday in a year-end interview. He said it was discussed that conservative premiers Danielle Smith in Alberta, Doug Ford in Ontario and Nova Scotia's Tim Houston are well-placed to lobby Republican governors and business leaders. Eby said as a New Democrat he will likely have more in common with Democrat governors and business leaders from the West Coast states. "I can easily have conversations with governors and businesses down the West Coast of the U.S., where we have close relationships and our politics are very similar," he said. "Premier Smith can have conversations with Republican governors. That would be more challenging for me, and (she) would have more connections potentially with the Trump administration than an NDP administration in B.C. would." He said a meeting last week between the premiers and Trudeau discussed Canada's diversity of representation, and how it could bring leverage and advantages in tariff talks. "It's interesting, there was a lot of talk about what unity means in terms of Canada's response to the tariffs," he said. "There's obviously a diversity of views around the Council of the Federation table of all the premiers. Certainly, mine is not the same as Premier Smith's or Premier Ford's or Premier Houston's, and that diversity of views is actually potentially a significant strength for us as we enter into these discussions." Eby also said he was prepared to appear on American's right-leaning Fox News TV network, as did premiers Ford and Smith. "Anything that I can do to support the national effort to protect the families in Canada from the impact of tariffs and also families in the U.S. from those unjustified tariffs," he said. "Absolutely, if I thought it was helpful." This report by The Canadian Press was first published Dec. 5, 2024. Dirk Meissner, The Canadian PressElon Musk’s preschool is the next step in his anti-woke education dreams
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Jake Paul and Mike Tyson officially suspended after controversial fightThe standard Lorem Ipsum passage, used since the 1500s "Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" To keep reading, please log in to your account, create a free account, or simply fill out the form below.U.S. President-elect Donald Trump's latest nominee for U.S. attorney general has established herself as a staunch conservative, Trump loyalist and outspoken defender of the president-elect, both personally and professionally. Trump announced his selection of former Florida Attorney General Pam Bondi on Thursday, just hours after former Florida U.S. Congressman Matt Gaetz withdrew his name from consideration for the post. From his Truth Social media account, Trump praised Bondi and what she will bring to the office. "For too long, the partisan Department of Justice has been weaponized against me and other Republicans — Not anymore," Trump wrote. "Pam will refocus the DOJ to its intended purpose of fighting crime and making America safe again." The 59-year-old Bondi was one of the lawyers on Trump's defense team during his first impeachment trial, and she played a leading role in his efforts to overturn the results of the 2020 election. Raised, educated in Florida Bondi was born and raised in Florida, received a Bachelor of Arts degree from the University of Florida, and a law degree from the Stetson University College of Law in DeLand, Florida. Early in her law career, Bondi worked as prosecutor and spokeswoman in Hillsborough County, where she was assistant state's attorney. In 2010, she became the first female attorney general elected to the state of Florida. In that role, "she pioneered impactful anti-trafficking initiatives, hosted groundbreaking conferences to combat sexual exploitation, and championed innovative solutions that other states have since followed," said the non-profit National Center on Sexual Exploitation, which welcomed her appointment in a statement Friday. While in office, Bondi defended a 2008 amendment to the state constitution that would ban same sex marriages. In 2018, she joined other Republican state attorney generals in an unsuccessful lawsuit attempting to overturn the Patient Protection and Affordable Care Act, more commonly known as Obamacare. Bondi received widespread criticism in 2013 when, following a $25,000 donation to a political action committee supporting her re-election campaign from the Donald J. Trump Foundation, she chose not to join a lawsuit initiated by the attorney general of New York against Trump University for "persistent fraudulent, illegal and deceptive conduct." Prior to the donation, Bondi had said she was considering joining the lawsuit, as her office had received at least 22 complaints about Trump University. She endorsed Trump in the Florida primary during the 2016 presidential campaign. Organization founded to advance Trump's agenda Bondi serves as chair for the Center for Litigation and co-chair of the Center for Law and Justice at the America First Policy Institute, a conservative organization that was founded in 2021 to advance Trump's agenda. Bondi is also a partner at the Washington-based Ballard Partners lobbying firm, where she chairs the firm's Corporate Regulatory Compliance practice. Some information for this report was provided by The Associated Press, Reuters and Agence France-Presse.
Jedd Fisch has a busy few weeks ahead of him. The Huskies may not be preparing for conference championship weekend this year, but next week begins one of the most crucial periods for UW’s 2025 season. “At that point in time, we can really visit what it's going to look like in the future,” Fisch said on Monday. “What’s the 2025 calendar year going to look like and what’s the team going to look like moving forward.” Washington plays No. 1 Oregon in Eugene on Saturday, kicking off a chaotic two-week period for Fisch and the Huskies. Early signing day for high school football recruits is Dec. 4. UW will find out where and when its bowl game will be on Dec. 8. Then, on Dec. 9, the winter transfer portal opens. Players will be able to enter their name until Dec. 28. “We’ll be ready for all that,” Fisch said on Monday. “We expect to make some play on some guys when they enter the portal from other programs, and we expect to have to fight hard to keep our team in check. And we’re looking forward to doing that.” Like most coaches, Fisch said he knows it’s unlikely Washington will have zero players enter the transfer portal. He said the coaching staff will have discussions with all the players on UW’s roster following the game against Oregon about where they fit in the program and what their future at Washington looks like going forward. Fisch said these meetings cover lots of different topics. Players want to know if they have a path toward playing time. They want to know how they fit into the program’s vision and how the coaching staff plans to develop them. NIL opportunities, of course, are also a major concern. Starting this summer, student-athletes will also be able to earn revenue-sharing money directly from the university. The House v. NCAA settlement received preliminary approval in October and has a hearing for final approval set for April 7, 2025, so Fisch said he and his staff will also have to explain what those opportunities will look like for his players next season, too. “It’s a matter of making sure that if you do lose a player in the portal — or a player chooses to go in the portal — it’s a good decision for everybody,” Fisch said. “You hate to see people go in there with nowhere to go. You hate to see people go in there and then feel like they’re missing out on something special. “But on that same token, we also know that some people just want to go and play, and they might see a better opportunity to play somewhere else.” Fisch also acknowledged some of his players have already had NIL collectives from other teams inquire about potentially entering the portal. This is not a recruiting violation because of a lawsuit brought against the NCAA by the states of Tennessee and Virginia earlier in 2023 which resulted in a federal judge providing a temporary preliminary injunction against the NCAA, preventing it from enforcing its NIL rules for recruits. While coaches and members of a school’s athletic department cannot reach out directly, NIL collectives, as third-party companies, are not subject to similar restrictions under the current injunction. Fisch also noted other third-party intermediaries or even friends of players on other rosters will occasionally enquire about a player’s potential entry into the transfer portal. “I don’t know exactly who they are — or maybe I do — but of course that’s going on,” Fisch said. “It’s the nature of the beast that we’re living in right now. We’re living in a world where the deregulation of college football has turned it into a little bit of the wild, wild West.” The addition of revenue sharing will also impact how UW approaches the 2025 transfer portal. Fisch noted every program and team will use its money differently, similar to NFL roster construction. For example, the UW coach said Philadelphia Eagles general manager Howie Roseman, Fisch’s college roommate at Florida, likes to invest heavily in offensive and defensive linemen, then quarterbacks before trying to trade for skill-position players. Other general managers, Fisch said, may prefer to have an elite wide receiver or running back. This season, however, Fisch said his number one priority — both in high-school recruiting and in the transfer portal — is helping UW get bigger. Fisch has repeatedly said he expects to build UW’s offensive line through high-school prospects. He previously noted most good offensive linemen don’t enter the transfer portal because they’re so valuable, and every program competes for the few who decide to go somewhere else. The Huskies currently have six offensive linemen committed to their 2025 recruiting class: Zac Stascausky, Jack Shaffer, Champ Taulealea, Peter Langi, Jake Flores and Lowen Colman-Brusa. Stascausky and Taulealea are both considered four-star prospects by 247Sports composite rankings. All six players weigh 275 pounds or heavier, and can sign with UW on Dec. 4. Washington has enjoyed some relative success adding defensive linemen from the transfer portal. Senior defensive tackle Sebastian Valdez, for example, has racked up 39 tackles including 4.5 for a loss, two sacks and a pass breakup since transferring from Montana State. Valdez also has 19 pressures and 13 hurries according to Pro Football Focus, making him one of UW’s most valuable 2024 transfer portal additions. “We’re recognizing the transition from the Pac-12 to the Big Ten starts up front,” Fisch said. “When we look at our games and how we’ve played, we see that there’s some size differential between us and the top six or seven programs that have been recruiting in the Big Ten for years and years. We need to use resources to make sure we get big. How quickly we can get big will be the test.” While Fisch thinks about building his offensive and defensive lines going forward, he said he’s still focused on putting out UW’s best effort against Oregon this Saturday at Autzen Stadium. He added his message to his players has been to get through this weekend before worrying about the future. “Let’s spend six days trying to beat Oregon, let’s just do that,” Fisch said. “Let’s not worry about who’s reaching out, and who’s trying to get what, and what money looks like, and what negotiations look like. Let’s do everything we can to beat Oregon.”