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c0hb^uyc(B@ w6Z0)0 كra wa3pbl8O¬*v؛Y'">̂w`K~==a,-0C.6The Sacramento Kings have fired coach Mike Brown less than halfway through his third season with the team mired in a five-game losing streak, a person familiar with the decision told The Associated Press. The person spoke on condition of anonymity Friday because the firing hadn't been announced by the team. ESPN first reported the firing. Brown won NBA Coach of the Year in his first season in 2022-23, when he helped Sacramento end the longest playoff drought in NBA history at 16 seasons. But Sacramento lost in the play-in tournament last year and was off to a 13-18 start this season, leading to the move to fire Brown about six months after he agreed to a contract extension through the 2026-27 season. The Kings have lost an NBA-worst nine games this season after leading in the fourth quarter with the worst one coming in Brown's final game as coach Thursday night against Detroit. Sacramento led by 10 points with less than three minutes to play only to collapse down the stretch. Jaden Ivey converted a four-point play with 3 seconds left when he made a 3-pointer in the right corner and was fouled by De’Aaron Fox. That gave the Pistons a 114-113 win, leaving the Kings in 12th place in the Western Conference. Brown has a 107-88 record in two-plus seasons in Sacramento with a winning record in both of his full seasons. Rick Adelman is the only other coach to post a winning record in a full season since the Kings moved to Sacramento Brown previously had two stints as coach in Cleveland and spent one-plus season as Lakers coach. He has a 455-304 record and has made the playoffs in seven of his nine full seasons. He won Coach of the Year twice, also getting the award in Cleveland in 2008-09. ___ AP NBA: https://apnews.com/hub/NBA Josh Dubow, The Associated PressRuben Amorim impressed with Arsenal’s corners after first defeat as Man Utd bossNone
Chaikin scores 20 as Lafayette takes down Mercyhurst 77-73Markets - Dec. 27
LA Galaxy Strike Early, Hold off New York Red Bulls 2-1 to Win Their Record 6th MLS Cup ChampionshipBy DAVID A. LIEB Artificial intelligence. Abortion. Guns. Marijuana. Minimum wages. Name a hot topic, and chances are good there’s a new law about it taking effect in 2025 in one state or another. Many of the laws launching in January are a result of legislation passed this year. Others stem from ballot measures approved by voters. Some face legal challenges. Here’s a look at some of the most notable state laws taking effect: California, home to Hollywood and some of the largest technology companies, is seeking to rein in the artificial intelligence industry and put some parameters around social media stars. New laws seek to prevent the use of digital replicas of Hollywood actors and performers without permission and allow the estates of dead performers to sue over unauthorized AI use. Parents who profit from social media posts featuring their children will be required to set aside some earnings for their young influencers. A new law also allows children to sue their parents for failing to do so. New social media restrictions in several states face court challenges. Related Articles National Politics | Trump has pressed for voting changes. GOP majorities in Congress will try to make that happen National Politics | Exhausted by political news? TV ratings and new poll say you’re not alone National Politics | Trump vows to pursue executions after Biden commutes most of federal death row National Politics | Elon Musk’s preschool is the next step in his anti-woke education dreams National Politics | Trump’s picks for top health jobs not just team of rivals but ‘team of opponents’ A Florida law bans children under 14 from having social media accounts and requires parental consent for ages 14 and 15. But enforcement is being delayed because of a lawsuit filed by two associations for online companies, with a hearing scheduled for late February. A new Tennessee law also requires parental consent for minors to open accounts on social media. NetChoice, an industry group for online businesses, is challenging the law. Another new state law requires porn websites to verify that visitors are at least 18 years old. But the Free Speech Coalition, a trade association for the adult entertainment industry, has filed a challenge. Several new California measures aimed at combating political deepfakes are also being challenged, including one requiring large social media platforms to remove deceptive content related to elections and another allowing any individual to sue for damages over the use of AI to create fabricated images or videos in political ads . In a first nationally, California will start enforcing a law prohibiting school districts from adopting policies that require staff to notify parents if their children change their gender identification . The law was a priority for Democratic lawmakers who wanted to halt such policies passed by several districts. Many states have passed laws limiting or protecting abortion rights since the U.S. Supreme Court overturned a nationwide right to the procedure in 2022. One of the latest is the Democratic-led state of Delaware. A law there will require the state employee health plan and Medicaid plans for lower-income residents to cover abortions with no deductible , copayments or other cost-sharing requirements. A new Minnesota law prohibits guns with “binary triggers” that allow for more rapid fire, causing a weapon to fire one round when the trigger is pulled and another when it is released. In Delaware, a law adds colleges and universities to a list of school zones where guns are prohibited, with exceptions for those working in their official capacity such as law officers and commissioned security guards. Kentucky is becoming the latest state to let people use marijuana for medical purposes . To apply for a state medical cannabis card, people must get written certification from a medical provider of a qualifying condition, such as cancer, multiple sclerosis, chronic pain, epilepsy, chronic nausea or post-traumatic stress disorder. Nearly four-fifths of U.S. states have now legalized medical marijuana. Minimum wage workers in more than 20 states are due to receive raises in January. The highest minimum wages will be in Washington, California and Connecticut, all of which will top $16 an hour after modest increases. The largest increases are scheduled in Delaware, where the minimum wage will rise by $1.75 to $15 an hour, and in Nebraska, where a ballot measure approved by voters in 2022 will add $1.50 to the current minimum of $12 an hour. Twenty other states still follow the federal minimum wage of $7.25 an hour. In Oregon, using drugs on public transit will be considered a misdemeanor crime of interfering with public transportation. While the measure worked its way through the legislature, multiple transportation officials said drug use on buses and trains, and at transit stops and stations, was making passengers and drivers feel less safe. In Missouri, law enforcement officers have spent the past 16 months issuing warnings to motorists that handheld cellphone use is illegal. Starting with the new year, penalties will kick in: a $150 fine for the first violation, progressing to $500 for third and subsequent offenses and up to 15 years imprisonment if a driver using a cellphone cause an injury or death. But police must notice a primary violation, such as speeding or weaving across lanes, to cite motorists for violating the cellphone law. Montana is the only state that hasn’t banned texting while driving , according to the National Conference of State Legislatures. Tenants in Arizona will no longer have to pay tax on their monthly rent , thanks to the repeal of a law that had allowed cities and towns to impose such taxes. While a victory for renters, the new law is a financial loss for governments. An analysis by Arizona’s nonpartisan Joint Legislative Budget Committee estimated that $230 million would be lost in municipal tax revenue during the first full fiscal year of implementation. Meanwhile Alabama will offer tax credits to businesses that help employees with child care costs. Kansas is eliminating its 2% sales tax on groceries. It also is cutting individual income taxes by dropping the top tax rate, increasing a credit for child care expenses and exempting all Social Security income from taxes, among other things. Taxpayers are expected to save about $320 million a year going forward. An Oklahoma law expands voting privileges to people who have been convicted of felonies but had their sentences discharged or commuted, including commutations for crimes that have been reclassified from felonies to misdemeanors. Former state Sen. George Young, an Oklahoma City Democrat, carried the bill in the Senate. “I think it’s very important that people who have gone through trials and tribulations in their life, that we have a system that brings them back and allows them to participate as contributing citizens,” Young said. Associated Press writers Trân Nguyễn in Sacramento, California; Kate Payne in Tallahassee, Florida; Jonathan Mattise in Nashville, Tennessee; Randall Chase in Dover, Delaware; Steve Karnowski in Minneapolis; Bruce Schreiner in Frankfort, Kentucky; Claire Rush in Portland, Oregon; Summer Ballentine in Jefferson City, Missouri; Gabriel Sandoval in Phoenix; Kim Chandler in Montgomery, Alabama; John Hanna in Topeka, Kansas; and Sean Murphy in Oklahoma City contributed.AT&T Inc. stock underperforms Wednesday when compared to competitors
LOS ANGELES — Until he sustained a season-ending knee injury last week in the Western Conference final, Galaxy playmaker Riqui Puig was having a tremendous season. So I heard. I watched Puig play only twice this year, once in the Galaxy's season-opening 1-1 draw with Inter Miami and a second time in his team's Fourth of July defeat to LAFC at the Rose Bowl. Outside of short highlight clips on social media, I never saw the former Barcelona prospect, not even when he assisted on the goal that sent the Galaxy to the MLS Cup final. That wasn't a reflection of my interest. Some of my friends will make fun of me for publicly admitting this, but I like Major League Soccer. I covered the league in my first job out of college and have casually kept up with it since. I take my children to a couple of games a year. My 11-year-old son owns Galaxy and LAFC hats but no Dodgers or Lakers merchandise. When flipping through channels in the past, if presented with the choice of, say, college football or MLS, I usually watched MLS. But not this year. While the MLS Cup final between the Galaxy and New York Red Bulls will be shown on Fox and Fox Deportes, the majority of games are now exclusively behind a paywall, courtesy of the league's broadcasting deal with Apple. MLS Season Pass subscriptions were reasonably priced — $79 for the entire season for Apple TV+ subscribers, $99 for non-subscribers — but I was already paying for DirecTV Stream, Netflix, Amazon Prime, PlayStation Plus and who knows what else. MLS became a casualty in my household, as well as in many others, and the possibility of being out of sight and out of mind should be a concern for a league that is looking to expand its audience. Which isn't to say the league made a mistake. This was a gamble MLS had to take. Now in the second year of a 10-year, $2.5 billion deal with Apple, MLS did what Major League Baseball is talking about doing, which is to centralize its broadcasting rights and sell them to a digital platform. Regional sports networks have been decimated by cord cutting, making traditional economic models unsustainable. The move to Apple not only increased the league's broadcast revenues — previous deals with ESPN, Fox and Univision were worth a combined $90 million annually, according to multiple reports — but also introduced a measure of uniformity in the league. The quality of the broadcasts are better than they were under regional sports networks. Viewers know where to watch games and when, as every one of them is on Season Pass and most of them are scheduled to start at 7:30 p.m. local time either on Wednesday or Saturday. "That's been fueling our growth and driving our fan engagement," MLS Commissioner Don Garber said Friday at his annual state of the league address. Apple and MLS declined to reveal the number of League Pass subscribers, but the league provided polling figures that indicated 94% of viewers offered positive or neutral reviews of League Pass. The average viewing time for a game is about 65 minutes for a 90-minute game, according to Garber. In other words, the League Pass is well-liked — by the people who have it. The challenge now is to increase that audience. The launch of League Pass last year coincided with the arrival of Lionel Messi, which presumably resulted in a wave of subscriptions. But the league can't count on the appearance of the next Messi; there is only one of him. MLS pointed to how its fans watch sports on streaming devices or recorded television than any other U.S. sports league, as well as how 71% of its fans are under the age of 45. The league also pointed to how it effectively drew more viewers to the Apple broadcast of Inter Miami's postseason opener with a livestream of a "Messi Cam' on TikTok, indicating further collaborations with wide-reaching entities could be in its future. Garber mentioned how Season Pass is available in other countries. The commissioner also made note of how Apple places games every week in front of its paywall. "What we have, really, is a communication problem," Garber said. "This is new, and we've got to work with Apple, we've got to work with our clubs and we've got to work with our partners to get more exposure to what we think is a great product." The greatest benefit to the league could be Apple's vested interest in improving the on-field product. MLS insiders said Apple has not only encouraged teams to sign more high-profile players but also pushed the league to switch to a fall-to-spring calendar more commonplace in other parts of the world, reasoning that doing so would simplify the process of buying and selling players. The on-field product is what matters. The on-field product is why MLS continues to face competition for viewers from overseas leagues. The on-field product is why the league hasn't succeeded in converting every soccer fan into a MLS fan. And ultimately, if casual viewers such as myself are to pay to watch the Galaxy or LAFC on a screen of some kind, the on-field product will be why. Get local news delivered to your inbox!ATLANTA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of science research and development, systems engineering and integration, and digital transformation and cyber security solutions to federal health IT and readiness agencies, today announced financial results for its fiscal fourth quarter and fiscal year ended September 30, 2024. Recent Highlights Reduced debt to $154.6 million as of September 30, 2024 versus $179.4 million as of September 30, 2023. All mandatory principal amortization payments have been satisfied through fiscal 2025. Amended credit facility to provide flexibility for business transition. Announced new business award of $76 million to deliver C5ISR services to the U.S. Navy. Fourth Quarter Results Fourth quarter revenue was $96.4 million in fiscal 2024 versus $101.5 million in fiscal 2023, reflecting the impact of small business contract conversions in the Company’s Veterans Affairs ("VA") and Department of Defense ("DOD") portfolios. Earnings were $2.3 million, or $0.16 per diluted share, for the fourth quarter of fiscal 2024 versus $(2.6) million, or $(0.18) per diluted share, for the fourth quarter of fiscal 2023, which included a $7.7 million impairment charge relating to certain long-lived real estate assets which reduced net income. Earnings before interest, taxes, depreciation and amortization ("EBITDA") were $10.7 million for the fourth quarter of fiscal 2024 as compared to $4.4 million for the fourth quarter of fiscal 2023, which was impacted by the aforementioned impairment charge. Adjusted EBITDA for the same periods were $10.7 million and $12.1 million, respectively. Fiscal Year Results Fiscal year 2024 revenue was $395.9 million compared to revenue of $375.9 million in fiscal year 2023, reflecting the full year contribution of the December 2022 acquisition and growth in the Company’s Health and Human Services portfolio, offset by small business conversions in its DOD and VA portfolios. Earnings for the full year were $7.4 million, or $0.51 per diluted share for fiscal 2024 as compared to earnings of $1.5 million, or $0.10 per diluted share in fiscal 2023. Operating results for the prior year were impacted by the impairment charge. EBITDA was $42.0 million for fiscal 2024 as compared to $32.7 million in fiscal 2023. Adjusted EBITDA for the same periods were $42.0 million and $42.1 million, respectively. Contract backlog was $690.3 million as of September 30, 2024 versus $704.8 million as of September 30, 2023. Management Discussion "As we close fiscal 2024, I believe that DLH is well positioned for the road ahead as we manage through this inflection point in our company's journey," said Zach Parker, DLH President and Chief Executive Officer. "We continued using our operating cash flow to reduce debt and ended the year with a total debt balance under $155 million. Furthermore, we recently announced an amendment to our credit facility that provides the flexibility to effectively navigate the transition of our CMOP contracts to small business contractors. That said, our pipeline of new business opportunities has never been stronger. We continue to actively bid on a host of opportunities leveraging our expanded customer base and capability set, and our recent new business win with the US Navy demonstrates the value our highly credentialed work force provides to our customers. Utilizing the platform of technology-powered solutions and services we have assembled through our acquisition program, we are confident in our ability to generate growth as we navigate the small business transition of a portion of our contract portfolio. We believe that our focus on providing innovative, high-value-added solutions in IT, public health, and digital transformation has put us on the path to greater operating results in the future, expansion in our business base, and higher shareholder value." Results for the Three Months Ended September 30, 2024 Revenue for the fourth quarter of fiscal 2024 was $96.4 million versus $101.5 million in fiscal 2023, once again reflecting strength across the Company's key strategic programs — primarily in public health and IT services — offset by certain work converting to small business set-aside contracts, including the one previously-discussed CMOP location. The Company anticipates additional CMOP contract award decisions during fiscal 2025 to eligible small business bidders. Income from operations was $6.4 million in fiscal 2024, versus $0.1 million in the fiscal 2023 fourth quarter and, as a percentage of revenue, the Company reported an operating margin of 6.6% in fiscal 2024 versus 0.1% in the prior-year period. In the fourth quarter of fiscal 2023, the Company booked a $7.7 million impairment charge on certain long-lived assets, which negatively impacted operating results for such period. General and administrative expenses declined approximately $1.8 million to $8.5 million in the fiscal 2024 fourth quarter from $10.2 million in fiscal 2023 as the company continued to strategically scale its indirect costs during this transitional period. Interest expense was $4.2 million in the fourth quarter of fiscal 2024 versus $4.8 million in the prior-year period, reflecting lower debt outstanding due to the Company's use of cash flow generation to de-lever the balance sheet. Income before income taxes was $2.2 million for the fourth quarter this year versus $(4.6) million in fiscal 2023, representing 2.3% and (4.6)% of revenue, respectively, for each period. For the three months ended September 30, 2024 and 2023, DLH recorded an income tax benefit of $0.1 million and $2.0 million, respectively. During the 2024 fiscal quarter and year, the Company benefited from stock-based compensation expense as options were exercised. The Company reported net income of approximately $2.3 million, or $0.16 per diluted share, for the fourth quarter of fiscal 2024 versus $(2.6) million, or $(0.18) per diluted share, for the fourth quarter of fiscal 2023. As a percentage of revenue for fiscal 2024 and 2023, net income was 2.4% and (2.6)%, respectively. On a non-GAAP basis, EBITDA for the three months ended September 30, 2024 was approximately $10.7 million versus $4.4 million in the prior-year period, or 11.1% and 4.3% of revenue, respectively. Adjusted EBITDA for the three months ended September 30, 2024 was approximately $10.7 million versus $12.1 million in the prior-year period, or 11.1% and 11.9% of revenue, respectively. Key Financial Indicators During the fourth quarter of fiscal 2024, DLH generated $12.4 million in operating cash. As of September 30, 2024 the Company had cash of $0.3 million and debt outstanding under its credit facility of $154.6 million versus cash of $0.2 million and debt outstanding of $179.4 million as of September 30, 2023. Of the $11.9 million debt reduction during the fourth quarter, $9.5 million were voluntary prepayments. The Company has satisfied all mandatory term amortization payments through fiscal 2025. As of September 30, 2024 total backlog was approximately $690.3 million, including funded backlog of approximately $155.1 million and unfunded backlog of $535.2 million. Conference Call and Webcast Details DLH management will discuss fourth quarter results and provide a general business update, including current competitive conditions and strategies, during a conference call beginning at 10:00 AM Eastern Time tomorrow, December 5, 2024. Interested parties may listen to the conference call by dialing 888-347-5290 or 412-317-5256. Presentation materials will also be posted on the Investor Relations section of the DLH website prior to the commencement of the conference call. A digital recording of the conference call will be available for replay two hours after the completion of the call and can be accessed on the DLH Investor Relations website or by dialing 877-344-7529 and entering the conference ID 4353784. About DLH DLH (NASDAQ: DLHC), a Russell 2000 company, enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by federal customers, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,800 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to innovative solutions to improve the lives of millions. For more information, visit www.DLHcorp.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or DLH’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding estimates of future revenues, operating income, earnings and cash flow. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements made in this release due to a variety of factors, including: the risk that we will not realize the anticipated benefits of acquisitions (including anticipated future financial performance and results); the diversion of management’s attention from normal daily operations of the business and the challenges of managing larger and more widespread operations; the inability to retain employees and customers; contract awards in connection with re-competes for present business and/or competition for new business; our ability to manage our debt obligations; compliance with bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid and award protests, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the impact of inflation and higher interest rates; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 as well as subsequent reports filed thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements, except as may be required by law. CONTACTS: TABLES TO FOLLOW Non-GAAP Financial Measures The Company is presenting additional non-GAAP measures regarding its financial performance for the three months and fiscal years ended September 30, 2024 and 2023. The measures presented are Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”), EBITDA Margin on Revenue, Adjusted EBITDA, and Adjusted EBITDA Margin on Revenue. In calculating Adjusted EBITDA, we have added the corporate development costs associated with completing the December 2022 acquisition to our results for fiscal year 2023 and removed the impairment loss on certain real estate assets. These resulting measures present the quarterly and annual financial performance compared to results delivered in the prior year period. Definitions of these additional non-GAAP measures are set forth below. We have prepared these additional non-GAAP measures to eliminate the impact of items that we do not consider indicative of ongoing operating performance due to their inherently unusual or extraordinary nature. These non-GAAP measures of performance are used by management to conduct and evaluate its business during its review of operating results for the periods presented. Management and the Company's Board utilize these non-GAAP measures to make decisions about the use of the Company's resources, analyze performance between periods, develop internal projections and measure management performance. We believe that these non-GAAP measures are useful to investors in evaluating the Company's ongoing operating and financial results and understanding how such results compare with the Company's historical performance. These supplemental performance measurements may vary from and may not be comparable to similarly titled measures by other companies in our industry. EBITDA, Adjusted EBITDA, EBITDA Margin on Revenue and Adjusted EBITDA Margin on Revenue are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing our performance investors should (i) evaluate each adjustment in our reconciliation to the nearest GAAP financial measures and (ii) use the aforementioned non-GAAP measures in addition to, and not as an alternative to, revenue, operating income, net income or diluted EPS, as measures of operating results, each as defined under GAAP. We have defined these non-GAAP measures as follows: "EBITDA" represents net income before income taxes, interest, depreciation and amortization. EBITDA Margin on Revenue is EBITDA divided by revenue for the relevant period. “Adjusted EBITDA” represents net income before income taxes, interest, depreciation and amortization and the corporate costs associated with completing the acquisition and the impairment loss on the right of use asset. Adjusted EBITDA Margin on Revenue is Adjusted EBITDA divided by revenue for the relevant period. (a): Represents impairment loss of certain long-lived real estate assets associated with a reduction of the fair value of an asset prompted by a triggering event. During the fourth quarter of fiscal 2023, DLH reduced its leased office space requirement by consolidating underutilized premises as part of an ongoing facility rationalization effort, to accurately reflect the operational needs of the business. As a result, the Company has determined that its Right of Use Assets experienced a reduction in fair value below its associated carrying value and recorded a $7.7 million loss of fair value. (b): Represents corporate development costs we incurred to complete the December 2022 transaction. These costs primarily include legal counsel, financial due diligence, customer market analysis and representation and warranty insurance premiums.NEW YORK--(BUSINESS WIRE)--Nov 25, 2024-- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Macy’s, Inc. (NYSE: M) resulting from allegations that Macy’s may have issued materially misleading business information to the investing public. So What: If you purchased Macy’s securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=31645 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. What is this about: On November 25, 2024, The New York Times published an article entitled “Macy’s Discovers Employee Hid Millions in Delivery Expenses.” This article stated that “Macy’s said on Monday that an employee had “intentionally” misstated and hidden up to $154 million in delivery expenses over the past few years, forcing the retailer to delay a much-anticipated earnings report that Wall Street uses to gauge the strength of holiday shopping.” On this news, the price of Macy’s, Inc. stock fell 2.2% on November 25, 2024. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. View source version on businesswire.com : https://www.businesswire.com/news/home/20241125862473/en/ CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: The Rosen Law Firm, P.A. Copyright Business Wire 2024. PUB: 11/25/2024 06:40 PM/DISC: 11/25/2024 06:40 PM http://www.businesswire.com/news/home/20241125862473/en
(Reuters) - U.S. President-elect Donald Trump on Monday pledged a 25% tariff on all products from Mexico and Canada from his first day in office, and an additional 10% tariff on goods from China, citing illegal immigration and the trade of illicit drugs. "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," Trump said in a post on Truth Social. Trump said the tariffs would remain in place until the two countries clamp down on drugs, particularly fentanyl, and migrants crossing the border illegally. Trump's threatened new tariff would appear to violate the terms of the U.S.-Mexico-Canada Agreement on trade, which Trump signed into law and took effect in 2020, and continued the largely duty-free trade between the three countries. Mexico and Canada are the United States' largest trading partners. More than 83% of exports from Mexico went to the U.S. in 2023 and 75% of Canadian exports go to the country. Canada and the United States at one point imposed sanctions on each others' products during the rancorous talks that eventually led to USMCA. On China, the president-elect accused Beijing of not taking strong enough action to stop the flow of illicit drugs crossing the border into the U.S. from Mexico. "Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America," Trump said. The Chinese embassy in Washington, the office of Canadian Prime Minister Justin Trudeau and the Canadian foreign ministry did not immediately respond to separate requests for comment. Mexico's foreign ministry and its economy ministry did not have an immediate comment when contacted by Reuters. Trump has previously pledged to end China's most-favored-nation trading status and slap tariffs on Chinese imports in excess of 60% - much higher than those imposed during his first term. The Chinese economy is now in a much more vulnerable position given the country's prolonged property downturn, debt risks and weak domestic demand. The dollar rose more than 2% against the Mexican peso and jumped 1% on the Canadian dollar after Trump posted on his social media platform. Japan's Nikkei fell 1% and U.S. stock futures dropped 0.3%. In the run-up to the Nov. 5 election, Trump floated plans for blanket tariffs of 10% to 20% on virtually all imports. He also said he would put tariffs as high as 200% on every car coming across the U.S.-Mexico border. He also voiced his intent to formally invoke the USMCA's six-year review provision upon taking office. Currently, it is expected in July 2026. Economists say that Trump's overall tariff plans, likely his most consequential economic policy, would push U.S. import duty rates back up to 1930s-era levels, stoke inflation, collapse U.S.-China trade, draw retaliation and drastically reorder supply chains. They say tariffs are paid by the companies that import the products subject to the duties, and they either pass on the costs to consumers or accept lower profits. Trump frequently refers to countries paying as a consequence of his tariff plan, saying on Monday that Mexico and Canada will "pay a very big price." (Reporting by Jasper Ward and Costas Pitas; additional reporting by David Lawder, David Ljunggren and Brendan O'Boyle; Editing by Rami Ayyub and Stephen Coates)
Macy’s said an employee hid as much as $154 million in delivery expenses over a three-year period, prompting the retailer to delay the release of third quarter earnings. The New York-based department store chain – which also owns Bloomingdale’s and Bluemercury – said in a news release Monday that a single employee was behind the false accounting entries, which date to the fourth quarter of 2021. The employee no longer works at the company. Macy’s estimates the employee hid $132 million to $154 million during a period when it had accrued approximately $4.36 billion in total delivery expenses. The company said there is no indication that it impacted its cash management or vendor payments. The retailer released preliminary financial results Monday showing that while net sales for Bloomingdale’s and Bluemercury rose 1.4 percent and 3.2 percent, respectively, over last year, Macy’s dragged down the company’s overall net sales by 2.4 percent, to $4.74 billion. Macy’s had been scheduled to release third quarter results Tuesday, but said the report would be pushed to Dec. 11 to allow it to complete its independent investigation. The retailer’s stock price was down more than 3 percent in late morning trading. Chief executive Tony Spring said in the news release that company values a “culture of ethical conduct.” “While we work diligently to complete the investigation as soon as practicable and ensure this matter is handled appropriately, our colleagues across the company are focused on serving our customers and executing our strategy for a successful holiday season,” he said. The development comes as the industry kicks off the biggest week of the crucial holiday shopping season. The National Retail Federation projects Americans will spend $979.5 billion to $989 billion in November and December, a 2.5 to 3.5 percent increase over last year. We invite you to add your comments. We encourage a thoughtful exchange of ideas and information on this website. By joining the conversation, you are agreeing to our commenting policy and terms of use . More information is found on our FAQs . You can modify your screen name here . Comments are managed by our staff during regular business hours Monday through Friday as well as limited hours on Saturday and Sunday. Comments held for moderation outside of those hours may take longer to approve. Please sign into your Press Herald account to participate in conversations below. If you do not have an account, you can register or subscribe . Questions? Please see our FAQs . Your commenting screen name has been updated. Send questions/comments to the editors. « PreviousNone