NEW YORK — Technology stocks helped pull stocks lower on Wall Street Wednesday, handing the market its first loss in more than a week. The S&P 500 fell 0.4%, even though more stocks in the index notched gains than ended lower. The loss snapped a seven-day winning streak for the benchmark index. The Dow Jones Industrial Average fell 0.3%, its first loss after five gains. The Dow and S&P 500 remain near the all-time highs they set on Tuesday. The Nasdaq composite, which is heavily weighted with technology stocks, fell 0.6%. Losses for tech heavyweights like Nvidia, Microsoft and Broadcom were the drag on the market. Semiconductor giant Nvidia fell 1.2%. Its huge value gives it outsized influence on market indexes. Microsoft fell 1.2% and Broadcom finished 3.1% lower. Several personal computer makers also helped pull the market lower following their latest earnings reports. HP sank 11.4% after giving investors a weaker-than-expected earnings forecast for its current quarter. Dell slid 12.2% after its latest quarterly revenue fell short of Wall Street forecasts. Gains for financial and health care companies helped temper the market’s losses. Berkshire Hathaway rose 0.9% and Merck & Co. added 1.5%. All told, the S&P 500 fell 22.89 points to 5,998.74, while the Dow dropped 138.25 points to 44,722.06. The Nasdaq fell 115.10 points to 19,060.48. Traders also had their eye on new reports on the economy and inflation Wednesday. The U.S. economy expanded at a healthy 2.8% annual pace from July through September, according to the Commerce Department, leaving its original estimate of third-quarter growth unchanged. The growth was driven by strong consumer spending and a surge in exports. The update followed a report on Tuesday from the Conference Board that said confidence among U.S. consumers improved in November, but not by as much as economists expected. Consumers have been driving economic growth, but the latest round of earnings reports from retailers shows a mixed and more cautious picture. Department store operator Nordstrom fell 8.1% after warning investors about a trend toward weakening sales that started in late October. Clothing retailer Urban Outfitters jumped 18.3% after beating analysts’ third-quarter financial forecasts. Weeks earlier, retail giant Target gave investors a discouraging forecast for the holiday season, while Walmart provided a more encouraging forecast. Consumers, though resilient, are still facing pressure from inflation. The latest update from the U.S. government shows that inflation accelerated last month. The personal consumption expenditures index, or PCE, rose to 2.3% in October from 2.1% in September. Overall, the rate of inflation has been falling broadly since it peaked more than two years ago. The PCE, which is the Federal Reserve’s preferred measure of inflation, was just below 7.3% in June of 2022. Another measure of inflation, the consumer price index, peaked at 9.1% at the same time. The latest inflation data, though, is a sign that the rate of inflation seems to be stalling as it falls to within range of the Fed’s target of 2%. The central bank started raising its benchmark interest rate from near-zero in early 2022 to a two-decade high by the middle of 2023 and held it there in order to tame inflation. The Fed started cutting its benchmark interest rate in September, followed by a second cut in November. Wall Street expects a similar quarter-point cut at the central bank’s upcoming meeting in December. “Today’s data shouldn’t change views of the likely path for disinflation, however bumpy,” said David Alcaly, lead macroeconomic strategist at Lazard Asset Management. “But a lot of observers, probably including some at the Fed, are looking for reasons to get more hawkish on the outlook given the potential for inflationary policy change like new tariffs.” President-elect Donald Trump has said he plans to impose sweeping new tariffs on Mexico, Canada and China when he takes office in January. That could shock the economy by raising prices on a wide range of goods and accelerating the rate of inflation. Such a shift could prompt the Fed to rethink future cuts to interest rates. Treasury yields slipped in the bond market. The yield on the 10-year Treasury fell to 4.25% from 4.30% late Tuesday. The yield on the two-year Treasury, which more closely follows expected actions by the Fed, fell to 4.22% from 4.25% late Tuesday. U.S. markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday. Troise and Veiga write for the Associated Press.
Tel Aviv, Israel, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd ("Jeffs' Brands” or the "Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announces transformative initiatives by its wholly owned subsidiary, Fort Products Ltd. ("Fort”), to reshape pest control solutions and online shopping experiences, as previously announced on November 14, 2024 and November 18, 2024. With a creative move, Fort has partnered with leading digital developers to create an AI-based mobile application, offering customers innovative pest control solutions. This platform is designed to identify pests using AI technology to deliver tailored treatment recommendations, providing seamless access to Fort's top-tier products. The app is expected to launch in the first half of 2025, aiming to enhance Fort's ecosystem and aiming to position it as a leader in both e-commerce and pest control innovation. In addition, Fort is embracing the future of online payments by integrating cryptocurrency options, including Bitcoin, into its online platform. It is expected that starting in Q1 2025, customers will have the ability to pay with Bitcoin and other major cryptocurrencies to purchase Fort's pest control solutions on its online platform, reflecting Fort's commitment to adapting to emerging trends and meeting the preferences of tech-savvy customers globally. AI App Features: About Jeffs' Brands Ltd Jeffs' Brands aims to transform the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential. Through the Company's management team's insight into the FBA Amazon business model, it aims to use both human capability and advanced technology to take products to the next level. For more information on Jeffs' Brands Ltd visit https://jeffsbrands.com . Forward-Looking Statement Disclaimer This press release contains "forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe,” "expect,” "may,” "should,” "could,” "seek,” "intend,” "plan,” "goal,” "estimate,” "anticipate” or other comparable terms. For example, we are using forward-looking statements when discussing successful development of the AI powered mobile app and cryptocurrency payment options, its availability for use by customers, its enhancement of Fort's product ecosystem, the elevation of Fort's presence in the pest control sector and in e-commerce, the creation of opportunities for market expansion and customer engagement and the Company's commitment to adapting to emerging trends. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to adapt to significant future alterations in Amazon's policies; our ability to sell our existing products and grow our brands and product offerings, including by acquiring new brands; our ability to meet our expectations regarding the revenue growth and the demand for e-commerce; the overall global economic environment; the impact of competition and new e-commerce technologies; general market, political and economic conditions in the countries in which we operate; projected capital expenditures and liquidity; the impact of possible changes in Amazon's policies and terms of use; the impact of the conditions in Israel, including the recent attacks by Hamas, Iran, and other terrorist organizations; and the other risks and uncertainties described in the Company's Annual Report on Form 20-F for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission ("SEC”), on April 1, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Investor Relations Contact: Michal Efraty Adi and Michal PR- IR Investor Relations, Israel [email protected]
SANTA CRUZ, Calif. , Nov. 26, 2024 /PRNewswire/ -- Santa Cruz County Bank SCZC , a top-rated community bank headquartered in Santa Cruz County , is pleased to announce that Alison Voorhees has joined as Senior Vice President and Director of Marketing. Ms. Voorhees is responsible for all aspects of marketing and maintains her office at the Bank's 75 River St., Santa Cruz, Ca. location. Ms. Voorhees has a more than 20-year marketing background with extensive experience in branding, rebranding and creative direction, business and creative writing, corporate and executive communications, strategic business and marketing campaigns, media partnerships and community relations. She is a Certified Financial Marketing Professional (CFMP), Certified Digital Marketing Professional and Professional Certified Marketer (PCM ® ) in Digital Marketing. Her attention to creative excellence includes internal and external communications, data storytelling, marketing technology and automation tools and overall brand and integrated marketing strategy with a multi-channel approach. Krista Snelling , Santa Cruz County Bank President and CEO, commented, "Alison brings a wealth of bank marketing experience and fresh perspectives to help us continue our mission of serving the community with excellence. We are confident that under her leadership our brand, built over the past two decades, will continue to flourish and evolve in exciting ways that remain true to our roots." Early in her career, Ms. Voorhees established herself as an effective campaign and event coordinator, a strategic business and marketing planner, a dedicated team leader and a committed community partner. Ms. Voorhees most recently ascended to the role of Vice President, Marketing Strategy Manager for Capital City Bank where she also previously served as Assistant Vice President, Advertising Manager and Public Relations Specialist. Prior to a career in banking, she worked in fundraising and special events for Orlando Ballet and Opening Nights Performing Arts as well as in sales and marketing support for Ben Nye Company. Of this new opportunity, Ms. Voorhees said, "Joining a talented team of leaders at such a beloved community banking institution is a dream move for my career. I am honored to be entrusted with taking up the marketing mantle to shape the future of the Santa Cruz County Bank brand and beyond." Ms. Voorhees holds a Master of Arts in Global Communications from the University of Southern California , a Master of Science in Global Media and Communications from the London School of Economics and Political Science and a Bachelor of Arts in Communications and English from Florida State University . She also obtained a graduate certificate in Publishing and Editing from Florida State University and a certificate in Principles and Practices for Advertising Ethics from the Institute for Advertising Ethics. An avid community volunteer in the arts, elder care, literacy, placemaking, workforce development and youth sports, Ms. Voorhees has relocated to Santa Cruz from Tallahassee, Fla. ABOUT SANTA CRUZ COUNTY BANK AND WEST COAST COMMUNITY BANCORP Founded in 2004, Santa Cruz County Bank is the wholly owned subsidiary of West Coast Community Bancorp, a bank holding company. The Bank is a top-rated, locally operated and full-service community bank headquartered in Santa Cruz, Ca. with branches located in Aptos , Capitola , Cupertino , King City , Monterey , Salinas , San Luis Obispo , Santa Cruz , Scotts Valley and Watsonville . Santa Cruz County Bank is distinguished from "big banks" by its relationship-based service, problem-solving focus and direct access to decision makers. The Bank is a leading SBA lender in Santa Cruz County and Silicon Valley. As a full-service bank, Santa Cruz County Bank offers competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction lending, asset-based lending, agricultural loans, SBA and USDA government guaranteed loans, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payment and treasury management. True to its community roots, Santa Cruz County Bank has supported regional well-being by actively participating in and donating to local nonprofit organizations. Visit sccountybank.com for more information. Forward-Looking Statements This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to the successful integration with 1st Capital Bancorp post-merger, achieving the targeted cost savings and synergies within expected time-frames or at all, retaining employees and customers, fluctuations in interest rates (including but not limited to changes in depositor behavior in relation thereto), inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, health of the real estate market in California, Bancorp's ability to effectively execute its business plans, and other factors beyond Bancorp and the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. Bancorp undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. View original content to download multimedia: https://www.prnewswire.com/news-releases/santa-cruz-county-bank-hires-alison-voorhees-as-senior-vice-president-director-of-marketing-302316435.html SOURCE Santa Cruz County Bank © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Ravens LB Roquan Smith misses practice Thursday but could play vs. Chargers
Adam Pemble, an Associated Press video journalist who covered some of the biggest global news of the past two decades, from earthquakes and conflicts to political summits and elections, has died. He was 52. Pemble died Thursday in Minneapolis surrounded by friends and family, according to his friend Mike Moe, who helped care for him in the final weeks of his fight against cancer. Known for bringing stories alive with his camera, Pemble epitomized the best of television news traditions, casting a curious and compassionate lens onto the lives of the people and communities whose stories he told. He joined the AP in 2007 in New York before moving to Prague in 2011 to help launch AP’s first cross-format operation combining photography, text stories and video. He enhanced Eastern European news coverage, creating distinctive stories highlighting the region’s culture and society. “Adam was an incredibly talented and passionate journalist and an empathetic storyteller. He had this amazing ability to get anyone to talk to him on camera, which I attribute to the Midwestern charm he embodied throughout his life.” said Sara Gillesby, AP’s Director of Global Video and Pemble’s former manager in New York when he joined the AP. “He was the best of us.” Pemble was born in Saint Louis Park, Minnesota, in 1972 and grew up in Minneapolis. After graduating with a degree in mass communications from Minnesota State University Moorhead, he started his journalism career in 1997 at KVLY, a television station in Fargo, North Dakota, and later worked at WCCO in Minneapolis. “He had the skills of the old-school camera people to meet a deadline and turn a beautiful story,” said Arthur Phillips, a cameraman who worked with Pemble at WCCO. “But he had a calling for greater things.” Moving to New York, Pemble covered some of the biggest stories in the city, including the trial of Bernie Madoff, interviews with former Iranian President Mahmoud Ahmadinejad and with then-real estate developer, now U.S. president-elect, Donald Trump. He went to Haiti to cover the aftermath of the 2010 earthquake, where he captured shocking images of devastation. A few weeks later he was in Vancouver, covering the Winter Olympics. With his transfer to Prague, Pemble quickly became the go-to video journalist deployed to the biggest news events in Europe, interviewing government leaders, covering violent protests, the aftermath of terror attacks and numerous national elections across the continent. “An inquiring mind, a keen eye and a healthy skepticism for those in power who tried to spin away from the truth all combined to make Adam’s stories as rich in colour as he was in character,” said Sandy MacIntyre, former AP head of global video. “Time and again he was asked to do the impossible and without fail he delivered the exceptional.” ”But more than all of that, he was the colleague and friend you wanted by your side because if Adam was there we knew we were going to be the winning team.” As civil unrest rocked Ukraine in 2014, Pemble reported from Kyiv and later Donetsk, where he covered the first Russian-backed demonstrations before spending weeks in Crimea during Russia’s annexation of the strategic peninsula. His video reports included the last remaining Ukrainian sailors loyal to Kyiv, who had finally abandoned their ship and came ashore. With the Russian national anthem playing from a car in the background, his final shot showed two distraught sailors heckled as they walked away. Pemble returned to Ukraine following Russia’s invasion of the country in 2022. Among his many assignments was filming the exclusive March 2023 AP interview by Executive Editor Julie Pace with Ukrainian President Volodymyr Zelenskyy as a train shuttled them across Ukraine to cities near some of the fiercest fighting. “Adam showed up to every assignment with enthusiasm, creativity and commitment to his work and his colleagues. He loved what he did, and so many of us at AP are better for having worked alongside him,” Pace said. When not deployed overseas, Pemble set his camera’s gaze on his new home in the Czech Republic, offering insight into the traditions and unique stories of Eastern Europe. From Christmas carp fishing at sunrise to graffiti artists in Prague to the intimate story of a Slovak priest challenging the celibacy rules of the Catholic Church, he brought his unmistakable style. He worked with a traditional large broadcast camera in an era where many video shooters shifted to smaller, lighter cameras. He always put himself in the right place to let reality unfold like “an old school analog painter in an often fast and furious digital age,” former AP cameraman Ben Jary recalled. Pemble’s interest in visual storytelling led to experimenting with new technologies, including aerial videography. In 2015, he was the first major news agency camera operator to film live drone footage when reporting on the migration crisis in the Balkans. An avid gardener who planted trees and chilis on his rooftop in Prague, he was adventurous in the kitchen and especially proud of his vegan “meatloaf,” friends said. He loved a seedy dive bar as much as a Michelin restaurant and foods as varied as charcoal choux pastry with truffle creme and his favourite road trip junk food, Slim Jim’s jerky and Salted Nut Rolls. Pemble’s wit, wisdom, energy and positivity enriched the lives and experiences of those around him, friends and colleagues recalled. “If someone asked me to see a picture of quiet strength and courage, dignity and grace, and most of all kindness, I would show them a picture of a man for all seasons,” said Dan Huff, a Washington-based AP video journalist, “I would show them a picture of Adam Pemble.”What to know about the ceasefire deal between Israel and Lebanon's Hezbollah
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As President Joe Biden's term comes to an end, social media users are falsely claiming that his administration spent billions of dollars on the construction of just a handful of electric vehicle charging stations. Multiple high-profile figures, including sitting members of Congress, have promoted the claims. The claims misrepresent funding set aside by the 2021 Infrastructure and Jobs Act , also known as the Bipartisan Infrastructure Law, for a national network of publicly available electric vehicle chargers . Biden has set a goal of creating 500,000 such chargers by 2030. Here's a closer look at the facts. CLAIM: The Biden administration spent $7.5 billion to build eight electric vehicle charging stations. THE FACTS: That's incorrect. The $7.5 billion figure refers to the total amount allocated through the 2021 law to build a network of charging stations across the U.S., not the amount that has already been spent. There are currently 214 operational chargers in 12 states that have been funded through the law, with 24,800 projects underway across the country, according to the Federal Highway Administration. A charger, often called a charging port, provides electric power to one vehicle at a time through a connector, which is plugged into the vehicle. Stations are physical locations that can have multiple chargers. Secretary of Transportation Pete Buttigieg called the claims spreading online “false” in a series of X posts. “$7.5B has not been spent, nor anything like that,” he wrote, adding that federally funded chargers are built by individual states, not the federal government, and that most will be built in the second half of the 2020s. The total $7.5 billion in funding consists of $5 billion distributed through the National Electric Vehicle Infrastructure Formula Program , or NEVI, and $2.5 billion distributed through the Charging and Fueling Infrastructure Discretionary Grant Program , or CFI. NEVI funds, as determined by a formula, go annually to departments of transportation in all 50 states, plus Puerto Rico and the District of Columbia, from 2022 to 2026. The funds will be available until 2030. Each year, 10% of NEVI funding is set aside for states and local governments that require additional assistance. CFI provides grants to states and other localities through an application process. It funds electric vehicle charging, as well as other alternative fueling infrastructure, with a focus on underserved and disadvantaged communities. Rep. Michael Rulli, a Republican from Ohio, was among multiple high-profile figures who falsely claimed this week that the entire budget has already been spent. “Pete Buttigieg will leave his post as Transportation Secretary having spend $7.5 BILLION to build 8 EV charging stations,” he wrote in an X post that had received approximately 62,900 likes and shares as of Wednesday. “His legacy will be squandering billions on something nobody wants, while millions struggle to afford the things they need.” Rulli's office did not immediately respond to a request for comment. By early this year, only four states — Ohio, New York, Pennsylvania and Hawaii — had opened stations funded by the Bipartisan Infrastructure Law, The Associated Press reported in March . A Washington Post article published the next day said this amounted to just seven stations . Loren McDonald, an independent analyst tracking the electric vehicle charger buildout, told the AP that when assessing the progress that's been made it's important to understand that some states have extensive experience constructing electric vehicle charging infrastructure while others have little to none. He explained that Wisconsin, for example, had to pass a new law in order to comply with federal requirements. “This is a federal program, but at the end of the day, it's completely dependent on the states,” he said. “And so the real criticism probably needs to be directed at the states that are moving slowly or how the program was structure. But I don't know how else you would have done it.” Asked whether the federal government could do anything to help states move faster, McDonald suggested that it could have provided them with more guidance on how to manage their individual buildouts. All 50 states, Puerto Rico and the District of Columbia have access to two rounds of NEVI funding totaling nearly $2.4 billion, according to the Federal Highway Administration. As of Friday, 37 states have access to their third round of funding, for an additional $586 million total. The agency explained, however, that this does not represent money that has already been spent — just the money that is available to fund projects. The Federal Highway Administration has announced more than $1.3 billion in awards through CFI and funds set aside by NEVI with $779 million in grants currently available under both programs. This also represents money that is available for projects rather than money that has been spent. There are currently more than 203,000 publicly available charging ports across the U.S., with nearly 1,000 being turned on every week, according to the agency. This is more than double the number available in 2021. In addition to NEVI and CFI, funding sources include federal tax incentives and private investments. Find AP Fact Checks here: https://apnews.com/APFactCheck .