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Thousands of pro-Europe protesters rallied Sunday in Georgia against the government's decision to shelve European Union accession talks, marking the 11th consecutive day of demonstrations amid a post-election crisis. The country's pro-Western opposition and the president rejected the ruling Georgian Dream party's claimed victory in October 26 parliamentary polls and tens of thousands had taken to the streets against alleged electoral fraud. Prime Minister Irakli Kobakhidze's shock decision last week that EU-candidate Tbilisi will not seek the opening of accession talks triggered a fresh wave of protests, which met with a tough police response.Christmas fans stunned after discovering clever hack to make tree look fuller, and it won’t cost you a penny
EXCLUSIVE Sir Keir Starmer is accused of smothering Britain in red tape after Labour set up new quango every week since election victory By JASON GROVES POLITICAL EDITOR Published: 17:08 EST, 26 December 2024 | Updated: 17:11 EST, 26 December 2024 e-mail 7 View comments Keir Starmer was last night accused of smothering Britain in red tape after it emerged Labour has set up a new quango every week since taking power. The Prime Minister pledged ‘urgent’ action to transform the country after his landslide election victory in July. But analysis of the Government’s record reveals it has created a staggering 25 new quangos and so-called taskforces and advisory councils in its first six months in office – equal to an average of one a week. This will add to fears that Labour is more interested in reforming the structures of government than in driving real change in society. And it follows revelations last month that the Government ordered 67 reviews and consultations in its first five months, leading to accusations Sir Keir is facing ‘paralysis by analysis’. Former Tory chairman Richard Holden warned the push to create more quango risked stifling the economy and denting Labour’s hopes of kickstarting growth. ‘It’s a tale as old as time,’ he said. ‘Labour establishes a quango to duplicate work already under way in the public sector and the outcome is all-too predictable: more bureaucracy, more regulation and higher taxes for working Brits.’ Former Tory business secretary Jacob Rees-Mogg accused Labour of using quangos to make it harder for the public to hold ministers to account. Keir Starmer was last night accused of smothering Britain in red tape after it emerged Labour has set up a new quango every week since taking power Analysis of the Government’s record reveals it has created a staggering 25 new quangos and so-called taskforces and advisory councils in its first six months in office – equal to an average of one a week This adds to fears that Labour is more interested in reforming the structures of government than in driving real change in society ‘We need a great cull of quangos,’ he said. ‘In government I was trying to close them down because we need to return decision-making to elected ministers. ‘Instead, Labour seem bent on giving us government by the quango, for the quango... They want government done by their friends and they want it done away from prying eyes by organisations that are simply not accountable in the same way as elected ministers. It is not only anti-democratic but it also leads to worse government.’ Ed Miliband has created four new bodies to help push through his controversial plan to decarbonise Britain’s electricity system by 2030. The first, Great British Energy, was announced the day after the election, and was billed as a state-owned energy company, although it remains unclear whether it will ever produce electricity. Four days later, Mr Miliband announced the creation of Mission Control, a new advisory body which he said would help him devise and deliver the Government’s Clean Power 2030 Action Plan. In September, the Energy Secretary announced the creation of a new National Energy System Operator to help ‘accelerate Great Britain’s energy transition’. Last month, the supposedly ‘independent’ body produced a report saying Mr Miliband’s target is ‘feasible’, despite widespread industry scepticism over its potentially enormous costs. Then, in October, Mr Miliband set up the Solar Taskforce, which will examine issues such as whether to make solar panels compulsory on all new homes. Energy Secretary Ed Miliband has created four new bodies to help push through his controversial plan to decarbonise Britain’s electricity system by 2030 Home Secretary Yvette Cooper’s flagship Border Security Command, established just days after the election In November, Sir Keir announced Britain would also lead a new Global Clean Power Alliance, which would ‘speed up the global clean energy transition’. Some new bodies, such as the Child Poverty Taskforce and the New Towns Taskforce, appear to be designed primarily to delay decisions on difficult issues, such as whether to lift the two-child benefit cap and where to situate new communities likely to include thousands of homes. Others appear to be replacing or duplicating functions that already exist. For example, Home Secretary Yvette Cooper’s flagship Border Security Command, established just days after the election, largely replicates the functions of the former Small Boats Operational Command, while the new Regulatory Innovation Office appears very similar to the Regulatory Horizons Council. In November, the then transport secretary Louise Haigh launched the Jet Zero Taskforce that appeared to exactly replicate the existing Jet Zero Council, which advised on the development of sustainable aviation fuel. John O’Connell, chief executive of the TaxPayers’ Alliance, said: ‘Taxpayers will wonder who actually governs Britain given the proliferation of unelected, unaccountable quangos. ‘But what’s worse is that these have all been created by politicians who then recoil with horror when they realise that they are completely powerless in the face of this web of organisations, rules and procedures. ‘Labour ministers should stop creating a rod for their own back by further handing over power to those that may end up working against them.’ The revelation comes amid mounting concern about the Government’s unprecedented use of reviews and consultations. The Prime Minister defended his approach earlier this month, saying: ‘Like any business organisation, you’ve got to understand what you’re dealing with once you’re in a position to deal with it.’ But even his deputy Angela Rayner acknowledged Labour is in danger of getting ‘bogged down in the weeds’. Share or comment on this article: Sir Keir Starmer is accused of smothering Britain in red tape after Labour set up new quango every week since election victory e-mail Add commentFrom Health-Empowering Practices to More Eco-Smart Products, Explore the Top Trends Shaping Wellness, Beauty, Home Essentials, and Cooking for the Year Ahead LAKEWOOD, Colo. , Dec. 2, 2024 /PRNewswire/ -- Natural Grocers®, America's Nutrition Education Experts SM and the nation's largest family-operated organic and natural grocery retailer, has unveiled its highly anticipated Top Trends for 2025 . Now in its ninth year, the list highlights expert predictions on the emerging products and practices set to shape the year across four key categories: Health and Wellness , Body Care and Beauty , Food and Beverage , and those that are Ecologically Thoughtful . For the 2025 predictions, Natural Grocers' expert Nutrition Education team—including Registered Dietitians and Certified Natural Foods Chefs—joined forces with its purchasing, marketing, and analytics teams. This dynamic collaboration combined deep research, consumer insights, and trend analysis to craft a forecast that's as informed as it is exciting. "At Natural Grocers , we're always eager to see how evolving trends inspire healthier, more sustainable lifestyles," stated Raquel Isely , vice president of Marketing at Natural Grocers. "Each year we sift through evolving shopping habits and cutting-edge research to pinpoint the trends that will shape the way we live, eat, and care for ourselves in the year to come. "For 2025, we're seeing a focus on simple, yet thoughtful choices that prioritize wellness and the planet—like making blood sugar-friendly habits part of everyday life, exploring ocean-inspired body care, and embracing high-quality, globally-inspired proteins. These trends aren't just exciting—they're impactful, and some can make fabulous, practical holiday gifts! Whether it's a functional, natural skincare product geared towards men, a regenerative agriculture-friendly treat, or a product that helps kick forever chemicals out of the home, there's something meaningful for everyone on your list this season." NATURAL GROCERS' TOP TRENDS FOR 2025 Natural Grocers' Top Trends for 2025 are organized into four key categories: Health & Wellness , Body Care & Beauty , Food & Beverage , and Ecologically Thoughtful , encompassing a total of twelve trends. The expert team has included its "Try This Trend" feature, offering ideas and products for those eager to dive in and explore. For the third consecutive year, the company has also introduced a Bonus Trend—a unique highlight that connects and complements the entire lineup. The full list of trends is outlined below, with each category linked to detailed insights, product recommendations, and supporting research on the company's website. HEALTH & WELLNESS TRENDS BODY CARE & BEAUTY TRENDS FOOD & BEVERAGE TRENDS ECOLOGICALLY THOUGHTFUL TRENDS *BONUS TREND* Cultivating Biodiversity Becomes a Priority Natural Grocers will highlight these trends online and across their social media platforms throughout December. They will also be featured in the January edition of Natural Grocers' good4u Health Hotline® magazine, available in both online and print formats. ABOUT NATURAL GROCERS BY VITAMIN COTTAGE Founded in 1955, Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) is an expanding specialty retailer of natural and organic groceries, body care products, and dietary supplements. The products sold by Natural Grocers must meet strict quality guidelines and may not contain artificial colors, flavors, preservatives or sweeteners, or partially hydrogenated or hydrogenated oils. The Company sells only USDA-certified organic produce and exclusively pasture-raised, non-confinement dairy products, and free-range eggs. Natural Grocers' flexible smaller-store format allows it to offer affordable prices in a shopper-friendly, clean, and convenient retail environment. The Company also provides extensive free science-based Nutrition Education programs to help customers and Crew make informed health and nutrition choices. Natural Grocers is committed to its 5 Founding Principles —including its "Commitment to Community" and "Commitment to Crew". In fiscal year 2024, the Company invested more than $15 million in incremental compensation and discretionary payments for Crew. Headquartered in the Union Square neighborhood of Lakewood, CO, Natural Grocers has 168 stores in 21 states. Visit www.naturalgrocers.com for more information and store locations. View original content to download multimedia: https://www.prnewswire.com/news-releases/natural-grocers-unveils-2025s-must-know-trends-302320141.html SOURCE Natural Grocers by Vitamin Cottage, Inc.
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US fast food chain reveals menu ahead of first UK restaurant opening in DAYS – including super-hot Reaper flavourCHICAGO (WLS) -- A celebration Sunday in Chicago's Congress Plaza in the Loop could only be described as an outpouring of pent up emotion. Hundreds turned out to celebrate the downfall of the Assad regime that has been in place in Syria since 1970. It is the reason that most of people celebrating emigrated to the United States. The sound of the drums at the celebration was deafening as people danced, sang, and hugged. Hundreds of Syrian-Americans were brought together in joyous celebration. Their home nation's 52-year-dictatorship is now over, almost in the blink of an eye. "We are completely stunned by the speed of this. And we got it," Syrian American Council President Hani Atassi said. "This is a celebration now." RELATED | Jubilation and gunfire as Syrians celebrate the end of the Assad family's half-century rule Ironically, the gathering was planned on Saturday, even before Bashar Al-Assad resigned as president and fled Syria. Organizers intended to pile on the mounting international pressure for him to leave, not imagining it would happen this fast. "We couldn't believe it. One week and all this gone," said Maher Khatta with Citizens for a Secure and Safe America. "The tyranny gone. All those people who ruled the country for 52 years gone. It's unbelievable." In the crowd Sunday were people of all ages. Among them were many who have been in Chicago for decades, unable to go home for fear of political persecution. Many others were recent immigrants, who left Syria as refugees when the country's civil war began 13 years ago. It is a war that's claimed over half a million lives, and seen 14 million people forced to flee their homes. "I'm feeling so happy. My country is back," Syrian refugee Sadell Matar Al-Haj said. "I have left the war when I was four years old, and I'm just so happy to feel that I have a country again." READ MORE | Biden says Assad's fall in Syria is a 'fundamental act of justice,' but 'a moment of risk' While it is unclear what kind of government will take over in Syria, for now at least there is hope. "I hope Syria to be a democratic country," said Mohammed Al Zoubi with Citizens for a Secure and Safe America. "And I hope the people of Syria will feel the freedom and will look to the future." While Sunday was a day to celebrate, many of those who even in exile have remained politically active know the hard work to rebuild the country starts now. It is an effort they say they intend to be a part of.Last year, Donald Trump Jr.’s longtime fiancee Kimberly Guilfoyle was his proud date to Donald Trump’s annual Christmas celebration at Mar-a-Lago. This year, Guilfoyle was replaced at the Mar-a-Lago holiday festivities by Trump Jr.’s new girlfriend, Palm Beach socialite Bettina Anderson, the Daily Mail reported . Unfortunately for the new lovers, some Trump family allies and insiders are not happy about Anderson’s quick ascension into the family orbit, the Daily Mail also is reporting. The 37-year-old model and influencer was photographed seated next to Trump Jr. at the Christmas Eve dinner table, near the president-elect and his wife Melania Trump. Ivanka Trump, her husband Jared Kushner and their three children also attended the Christmas Eve dinner, Page Six reported. Some of the allies and insiders have told the Daily Mail that Anderson “isn’t MAGA enough,” while two friends of Trump Jr. expressed concern that she’s essentially a shallow influencer and “social climber” who is using Trump’s oldest son to snag an even wealthier and more powerful romantic target — someone like billionaire Elon Musk. “It’s one thing to worry about Palm Beach shenanigans making a stop at Mar-a-Lago,” a source close to the Trump transition team told the Daily Mail. “But to let those problems penetrate the White House is a new level of trouble.” The source appears to be referring to what the Daily Mail said was an “open secret” simmering in Palm Beach circles in the late summer and fall — how 46-year-old Trump Jr. had begun “fooling around” with the younger, Anderson, even while he was still engaged to 55-year-old Guilfoyle, a MAGA firebrand and top Trump campaign fundraiser. Rumors about Trump Jr.’s dalliance with Anderson began in September when images emerged of the couple kissing and cuddling while dining at a restaurant near Mar-a-Lago. Earlier this month, Trump Jr.’s relationship with the 37-year-old Anderson gained public recognition, after Trump announced that he was nominating Guilfoyle to be his ambassador to Greece. Guilfoyle’s nomination was seen by some political observers as a way that Trump could reward the former Fox News host for her political loyalty, while nudging her out of his “immediate sphere” and sending her off to Europe so that his son could openly pursue his new relationship with Anderson. At the time, sources close to Trump Jr. told People that he had became tired of his six-year relationship with Guilfoyle , the former first lady of San Francisco and ex-wife of California Gov. Gavin Newsom-turned Trump loyalist. For one thing, Trump Jr. didn’t like Guilfoyle’s “style,” including her “tight dresses.” He felt that Anderson, with her honey-blonde hair and “Waspy” model looks, would “impress” his father and perhaps make her a more ideal romantic partner. “Don Jr. has always wanted to look good in his father’s eyes,” the political source told People. Apparently, Anderson’s more natural, fun-loving style also was more to Trump Jr.’s taste these days, especially as he saw that she could become his “own Melania Trump equivalent,” a source told People. “She is a party girl, and outgoing, and Don is smitten with her,” a Palm Beach source told People. “Bettina is smart, sexy and savvy and knows it. She likes to have fun,” another source added. “Who knows what, if anything, will come from this.” Trump family members also got tired of Guilfoyle’s attention-seeking ways. Sources told People and the Daily Mail that they expected that Guilfoyle knew about Trump Jr.’s affair with Anderson, but chose “to look the other way because she loves the power and lifestyle.” Once Trump Jr. felt he could shed his public association with Guilfoyle, he began to “flaunt” his romance with Anderson, being photographed holding hands with her during a dinner date in with her in Palm Beach in December, the Daily Mail reported. After Trump announced that he wanted to send Guilfoyle to Greece, Trump Jr. and Anderson jetted off to Italy for a romantic getaway, the Daily Mail reported. Anderson also publicly posted photos of love letters and flowers sent to her from Trump Jr., and openly documented their European vacation. Someone described as a “close, personal friend” of Trump Jr. told the Daily Mail that he wasn’t concerned about Anderson. He said he expected there would “be gossip and trash talking, just because that’s kind of the world of Palm Beach and, you know, the universe they live in.” If Trump Jr. has heard any concerns about Anderson, he hasn’t let this friend know, according to the Daily Mail. Stacey Bendet, a fashion designer and close friend of Anderson’s, expressed dismay that her friend had become the target of social-climber rumors. “I have been friends with Bettina for a decade, she is the kindest soul, she has the biggest heart, she is witty and wise, hilariously funny, and an Ivy League grad — anyone who says a word otherwise is just another societal example of women fixating on competing verse empowering,” said Bendet, CEO of Alice + Olivia, in a text to the Daily Mail. Anderson has been seen at Alice + Olivia events over the years, the Daily Mail reported. Bendet added in her text: “Don adores her for good reasons!” However, some Trump family allies feel very differently about Anderson and are “doing everything they can” do to get Trump Jr. to end their relationship, the Daily Mail reported. Someone who worked for the Trump campaign the last five years told the Daily Mail that Trump Jr. is “slowly” starting to “wake up” to how Anderson is perceived in MAGA circles. Allies question her MAGA loyalty because of her previous support for the Black Lives Matters movement and her adherence to COVID-19 lockdown rules, the Daily Mail reported. But they also wonder about her “notorious party girl reputation in Palm Beach,” which they think somehow isn’t “highbrow enough” to be associated with the Trump family, the Daily Mail also said. Someone who works in the modeling business and who has known Anderson for years speculated to the Daily Mail that she’s using Trump Jr. as a stepping stone and would prefer to date someone like Musk. People who’ve known Anderson in Palm Beach also told the Daily Mail that she regularly dates wealthy older men. Even though Musk already is the world’s richest man, he stands to gain even more power in the incoming Trump administration, according to critics of both Musk and Trump. These critics note that the billionaire SpaceX founder donated at least a quarter of a billion dollars to support Trump’s campaign, and he’s been rewarded by becoming a regular presence at Trump’s side since his Nov. 5 victory. Musk now is on tap to lead the new DOGE agency, whose purported mission is to drastically reduce federal government spending and “waste.”A battle between the bulls vs the bears is brewing on Wall Street , and the argument is not about where the stock market is headed in the next year or two but for the rest of the decade and beyond. Depending on who’s right, investors could be in for another lost decade — like the one from 2000 through 2009, when the S&P 500 index ended not far from where it began. Or investors could enjoy 10 years’ worth of decent gains, if not the to-the-moon returns we’ve seen lately. Analysts at Goldman Sachs kicked off the debate in late October when they released their latest 10-year forecast, which calls for total returns of 3% annualized for the S&P 500 over the next 10 years. The firm believes that’s the most likely return scenario, within a range of –1% and 7%. For context, the broad-market benchmark returned 13% over the past 10 years. Goldman’s baseline, 3% forecast would rank in the seventh percentile for 10-year S&P 500 returns going back to 1930. The forecast implies a 72% probability that the broad-market index will underperform bonds and a 33% likelihood that stocks will generate a return that trails the rate of inflation. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of expert advice - straight to your e-mail. Goldman’s rationale for the dismal outlook hinges on the market’s current, high valuation at the starting point of the fore-cast horizon — typically, high valuations signal subpar returns are ahead. But another drag on future returns is the current concentration of market value in a small number of tech-related behemoths. “Our forecast would be four percentage points greater if we exclude market concentration that currently ranks near the highest level in 100 years,” Goldman’s strategists write. They’re not the only ones sounding a super-cautious note. Looking over the span of the next seven years, analysts from asset management firm GMO expect U.S. large-company stocks to deliver returns in a range from roughly 0.5% to 3%–4% annualized — an outlook that blends a few of the firm’s scenarios into one multiyear view. “It’s not quite a lost decade, but it’s not good,” says Rick Friedman , a partner on GMO’s asset-allocation team. “You should be making 7% to 8%” considering long-term average returns, he adds. The bulls push back on stock market expectations Investment professionals at J.P. Morgan Asset Management acknowledge that the future certainly holds challenges for global financial assets. “Stubbornly elevated deficits, increasing geopolitical tensions, income inequality and a rising tendency to economic nationalism all pose threats to our outlook,” they write in a recently released forecast for long- term (10- to 15-year) market returns. In the U.S., large-capitalization stocks are particularly challenged by high valuations, which shave J.P. Morgan’s forecast for annualized returns over the period by 1.8 percentage points. Nonetheless, J.P. Morgan’s strategists and economists still expect decent returns of 6.7% a year, on average, over their forecast period. Developed-market economies will grow at a healthy clip, they believe, aided by the transformative potential of artificial intelligence to boost productivity. That trend should support higher corporate revenue growth and profit margins, especially for large companies in the U.S., according to J.P. Morgan. To investors of a certain age, that argument may sound vaguely familiar, harkening back to the promise of the internet back in the ’90s, before the dot-com bubble burst at the turn of the century, ushering in the lost decade. “AI skeptics see those high valuations as one of several signs of a tech bubble,” says the J.P. Morgan report. “But we believe today’s tech narrative is very different from the dot-com bubble of the late 1990s.” For one, AI stocks have delivered significant earnings growth to go along with those meteoric stock-price gains. And while many of the 1990s highfliers were low-quality, speculative names, today’s tech winners are marked by more-diversified revenue streams, strong balance sheets and other quality markers. Are we in for a roaring ’20s scenario? Strategist Ed Yardeni, at Yardeni Research , believes that a long-term forecast of 7% returns “might not be optimistic enough.” Instead, he sees a “roaring 2020s” scenario, with the economy growing at a year-over-year average of 3.0% and inflation moderating to 2.0% — a setup for returns more on the order of 11%. “A looming lost decade for U.S. stocks is unlikely if earnings and dividends continue to grow at solid paces, boosted by higher profit margins thanks to better technology-led productivity growth,” he says. “The Roaring 2020s might lead to the Roaring 2030s.” Yardeni sees the S&P 500 hitting the 10,000 milestone by the end of 2029, implying a cumulative 66% return from its 6032 close at the end of November, or 10.6% annualized. But what if the pessimists are right? What if we’re due for a long span during which the broad market simply treads water? The key then will be to remember that the market is not a monolith and that there likely will be plenty of opportunities for decent-to-good returns in pockets of the market that aren’t reflected in the broad, large-company indexes. It’s worth remembering that as the S&P 500 languished in the early aughts, for example, U.S. small-company stocks returned an annualized 6.5%, emerging markets returned an annualized 11%, and gold soared 14% a year, on average. The winners may not be the same this time around, although a number of strategists are currently bullish on small stocks, emerging markets (depending on fiscal policies in China) and gold. Friedman, the asset-allocation expert at GMO, thinks investors will gain by investing in bargain-priced stocks overseas, where returns could reach the mid-teen percentages — more so in developed markets than emerging markets. He’s particularly bullish on small-company, value-priced stocks in Japan . In the U.S., deep- value stocks — the cheapest 20% — are “attractive and ownable,” Friedman says. Regardless of whether we face another lost decade, it’s a good idea to maintain a well-diversified portfolio. You may tilt tactically one way or another depending on market conditions, but you should explore both U.S. and international assets, stocks of all sizes, investing styles that touch on value-oriented as well as growth-focused themes — and perhaps add an equal-weighted index fund to guard against undue concentration in the most-popular names of the day. If you rebalance your portfolio periodically, you’ll be able to take advantage of peaks and valleys that you’ll inevitably encounter along the way, even if the market’s path, measured end-to-end over a period of time, turns out to be flat. Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here . Looking for more information on retirement investing? Sign up for our six-week email series Invest for Retirement . Related Content The Best ETFs to Buy Now All 30 Dow Jones Stocks Ranked: Buy, Sell or Hold? Best Dividend Stocks for Dependable Dividend Growth
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While New Hampshire and other states have cheered the new tax revenue from sports gambling, some new studies have linked the burgeoning industry to lower consumer credit scores, higher credit card debt and less household savings. With access on their cellphones, gamblers can bet more often and easily than in traditional casinos, heightening concerns about problem gambling and the financial fallout for sports fans. The rate of gambling problems among sports bettors is at least twice as high as it is for other gamblers, according to the National Council on Problem Gambling. Legal sports gambling is more widespread than ever. Missouri voters in November became the latest to approve it, making it legal in 39 states and the District of Columbia. Last year, Americans bet more than $121 billion on sports, according to the American Gaming Association. While betting revenues are exploding, the industry is still relatively young – only blossoming after a 2018 U.S. Supreme Court ruling opened the door for states to authorize sports gambling. New Hampshire, which legalized sports betting in 2019, has seen participation increase in recent years. In October 2020 – during the program’s first year — New Hampshire residents placed $40.2 million in total bets, known as the “handle.” The sole approved operator in the state, DraftKings, made $3.8 million that month and the state took in $1.8 million in revenue. In October 2024, that handle had risen to $69.5 million, and the state’s revenue share was $2.4 million, a 33 percent increase. In August, the N.H. Lottery Commission announced it had taken in a record $200.7 million in total gambling revenue in state fiscal year 2024, which ran from July 2023 to June 2024 — a 5 percent jump from the year before. Much of the increase was attributed to sports betting. The revenue is used to bolster the Education Trust Fund, which is expected to take in $1.2 billion in fiscal year 2025 from business taxes and other income sources. So far, researchers have not reached a consensus about potential harms, though three papers released this year found poor financial results for consumers in states with legalized sports gambling. In a working paper released in August, researchers at the University of California, Los Angeles and the University of Southern California determined access to legal online sports betting led to lower credit scores and higher rates of bankruptcies. That study examined credit bureau data of more than 4 million American consumers. “Our results ultimately suggest that gambling legalization does harm consumer financial health,” the report said. That paper did not assess specific solutions but called on policymakers to find ways to protect residents at risk of becoming problem gamblers. “If no action is taken, it is highly likely that the large increase in sports betting will lead to a long-term increase in financial stress on many consumers and policymakers and financial regulators should be prepared for this.” A study led by a Southern Methodist University professor released in June found problem gambling increased in states that introduced online casino gambling alongside online sports gambling. Another working paper from researchers at several U.S. universities found legalized sports betting drained household finances more than other types of gambling and diverted money from saving and investing. The research comes as some state lawmakers have pursued new restrictions on sports gambling and federal lawmakers have eyed stricter regulations. Last month, New Jersey lawmakers introduced legislation to ban so-called prop bets — bets on a particular player’s performance that may not affect the outcome of a game — on college athletes. If approved, it would join 13 other states that ban those bets. The measure has advanced out of an Assembly committee. New Hampshire has a Council for Responsible Gambling, created in 2019 by the same statute that legalized sports betting. That five-person council, whose commissioners are approved by the Executive Council, is chaired by Maura McCann, the marketing director for New Hampshire Lottery. It is charged with providing “education, advocacy and prevention services,“ according to its website. In September, congressional Democrats introduced legislation that would implement minimum national standards and authorize research on the public health implications of sports betting. Among other provisions, the bill would ban sports book advertising during live sporting events, prohibit more than five deposits from gamblers in a 24-hour period, and prohibit artificial intelligence tools that create specialized promotions by tracking individual gambler habits. But it is unlikely to progress in the GOP-controlled House. “State regulation is faint-hearted and half-baked,” Democratic U.S. Sen. Richard Blumenthal of Connecticut said at a news conference announcing the legislation. “That’s why we need a national standard — not to ban gambling, but simply to take back control over an industry that is out of bounds.” Industry pushes back Joe Maloney, senior vice president of strategic communications at the American Gaming Association, said legal betting is among the most regulated industries in the country. Aside from providing new revenue streams for states, Maloney said, legal sports betting has brought many consumers out of the illegal betting markets, providing more transparency for consumers and money for problem gambling programs. “You can go to any state that has yet to have an opportunity to erect a regulatory market and see a predatory and even more pervasive offshore, digital, illegal market that’s targeting consumers in those states,” he said. Maloney pointed to long-standing research finding no correlation between financial hardship and proximity to casinos. But he acknowledged that it isn’t yet clear whether sports betting has a different effect. “I think that topic needs to be further explored, because the scale of legalized gambling online and in the digital space is still very much in its infancy,” he said. But Maloney is skeptical of the idea that sports gambling harms household finances. He noted that Americans last year had record 401(k) holdings and record mutual fund ownership. Maloney highlighted a separate piece of recent academic research that determined the rapid rise of sports betting hasn’t led to an increase in adverse mental health outcomes or financial difficulties. The paper examined self-reported data on mental and financial health from nearly 2 million survey responses across multiple states with legalized betting. The results were somewhat surprising to lead researcher Timothy Bersak, an associate professor of economics at Wofford College in South Carolina. He said the findings contradict a popular narrative that sports betting leads to widespread harms. “Our results suggest that there’s not like a really large population of latent problem gamblers that would have these large gambling problems but for the prohibition on sports betting,” he said. Bersak said his findings don’t negate other recent research: There is a segment of the population that is likely worse off because of sports betting, he said. But for now, a much larger share of the population said they are not being hurt and finding enjoyment from it. “We really can’t have any sense of the long-term impacts at this point,” he said. “Because at least in the U.S., it’s only been around for at most six years.” ‘That money’s gone’ Justin Balthrop, an assistant professor of finance at the University of Kansas, expected that legalized sports gambling would displace other forms of entertainment spending. Maybe someone would forgo a night out, for instance, and instead put a few bucks on Sunday’s game. But a paper he co-wrote — titled “Gambling Away Stability” — found that legalized betting led households to spend more on both entertainment and betting, while putting less in savings and investment accounts. The paper examined financial transaction data from more than 230,000 households across 26 states with legal sports betting between 2018 and 2023. In households that placed bets, net investments dropped by 14 percent after legalization — a significant figure when factoring in the expected long-term gains of compound interest and rising stock prices. “What’s happening is they’re pulling money from what I think we would argue are more long-term productive uses of their funds to do this instead,” Balthrop said. Researchers found that sports betting disproportionately hurts lower-income households as they run up credit card debt and overdraft checking accounts. Balthrop said policymakers should do more to provide education and transparency to consumers, so they know the full extent of the odds against them. A gambler himself, Balthrop said bettors should go into every bet financially and mentally prepared to lose because most bettors don’t win. “I would say the same thing as someone who goes to a casino: Pretend that the hundred bucks you’re bringing to the casino is an entry fee, and maybe you get to leave with some of it,” he said. “But you need to mentally know that money’s gone.” West Virginia state Sen. Jason Barrett, a Republican, said he believes most people who have placed bets since the state legalized sports gambling in 2018 have done so for fun — not with the expectation of making money. “The way I look at it is, if somebody decides that they’d rather spend $50 on the outcome of an NFL game as opposed to going out to the movies, I think they should have the right to do that,” he said. “I’m not aware that there are a lot of people that are doing this for a real investment.” Barrett, the treasurer of a national group of state lawmakers that works on gambling issues, noted that sports betting is still just a fraction of the overall spending on gambling in West Virginia. The American Gaming Association reported sports betting last year brought in about $48 million in revenue in West Virginia; total casino revenues in the state reached nearly $806 million. While problem betting is always a concern, he said he’s seen no evidence sports gambling has dramatically increased addiction. “I don’t think all of a sudden that we’ve offered one new product through sports betting, that all of a sudden we’re going to create a bunch of gambling addicts,” he said, “or that people have this illusion that they’re somehow going to regularly beat the book, and that this is going to somehow replace their retirement.” The American Gaming Association reported that commercial gambling revenues hit a record $66.66 billion last year — a 10.3 percent increase over 2022. While casino revenues continue to rise, sports gaming revenues are exploding: Last year, when sports betting became available in five new states, the group reported a total of $11 billion in sports betting revenue — a 46 percent increase from the previous year. That figure does not include sportsbooks operating at tribal casinos. Those figures will likely continue to rise as more states approve sports betting. Missouri regulators are currently crafting rules and a licensing framework for sports betting following the narrow approval of the ballot initiative last month. Jan Zimmerman, chair of the Missouri Gaming Commission, said the state hopes to launch sports betting by summer. While the agency has heard concerns from state residents about increased problem gambling associated with sports betting, Zimmerman said regulators in other states have not reported a significant uptick. As it does with casinos, the gaming commission will funnel a portion of sports betting revenues to mental health work to address problem gambling. But because the initiative was passed as an amendment to the state constitution, the gaming commission has limited latitude to create new regulations or safeguards on sports betting. “The constitutional language is that which was created by that initiative petition,” she said. “So, there’s no going back and maybe molding that to work better to fit our needs.” The N.H. Bulletin’s Ethan DeWitt contributed to this report. This story was originally published by Stateline, which, like the N.H. Bulletin, is part of States Newsroom This story was originally published by Stateline, which like the N.H. Bulletin is part of States Newsroom. .An inflation report in the coming week will test the strength of the record-setting U.S. stocks rally and provide a crucial piece of data that could factor into the Federal Reserve’s plans for rate cuts. The S&P 500 on Friday was on pace for its third-straight weekly gain, pushing its year-to-date advance to over 27%. The rosy backdrop for stocks is underscored by expectations of further Fed interest rate cuts at the same time the economy remains resilient. That scenario historically has produced strong equity gains, and it was supported by Friday’s employment report that monthly job growth was stronger than expected. Yet the data was not likely to signal a material shift in labor market conditions that would cause the Fed to rethink its rate trajectory at its Dec 17-18 meeting. However, data on consumer prices due on Wednesday could threaten the upbeat narrative if inflation rates are above expectations, posing a challenge for high-flying stocks. “If you come in hot, I do think that’s going to be tough for the stock market to digest,” said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. “It is going to bring in a little bit of uncertainty ahead of the Fed meeting.” Bets that the Fed would cut rates at its next meeting firmed after the November payrolls report. Data showed an increase of 227,000 jobs, but the unemployment rate ticked up to 4.2%. Fed fund futures trading as of mid-day Friday indicated a nearly 90% chance the central bank would cut by 25 basis points, according to CME FedWatch. Following the jobs data, there is a “higher bar” for the upcoming consumer price report to pause any planned rate cut at the Fed’s next meeting, said Molly McGown, U.S. rates strategist at TD Securities. The consumer price index is expected to have climbed 2.7% for the 12 months through November, according to Reuters data. Rather than pause rate cuts, if CPI comes in hotter than estimates, the central bank could implement a “hawkish cut” by tempering expectations for reductions in 2025, Miskin said. The potential for a revival in inflation is also in greater focus because of President-elect Donald Trump’s plans to raise tariffs on imports. Tariffs are expected to be inflationary. TD Securities expects the Fed to pause rate cuts at the start of the year, as policy makers assess Trump’s fiscal policies after he takes office in January, McGown said. “We heard from (Fed Chair Jerome) Powell that once they know what the actual policies are, that’s when they’ll start to put that into their framework of figuring out what they’re going to do with monetary policy,” McGown said. Meanwhile, stocks continue to charge higher, raising concerns about sentiment becoming worrisomely optimistic. The S&P 500 was trading at 22.6 times expected earnings for the next 12 months, its highest P/E ratio in more than three years, according to LSEG Datastream. Yardeni Research cited concerns with several measures, such as bullish sentiment among investment advisors and foreign private purchases of U.S. stocks. “Contrarian indicators are turning bearish,” Yardeni said in a note on Thursday. Yet some investors say the prospects for stocks look solid into year end, which is a seasonally strong period for equities. “The bear arguments from earlier in the year — such as the job market pressures, interest rate fluctuations, Fed uncertainty, and geopolitical tensions — have significantly eased,” Mark Hackett, chief of investment research at Nationwide, said in emailed comments. “It is difficult to see how this trend reverses by year end.” Source: Reuters (Reporting by Lewis Krauskopf; Editing by David Gregorio)All eyes will be on the player-availability report when the Los Angeles Clippers play host to the Golden State Warriors on Friday at Inglewood, Calif. While the Clippers are moving closer to the season debut of Kawhi Leonard, the Warriors are pondering a day of rest for Stephen Curry on the first night of a back-to-back that includes a game at home against the Phoenix Suns on Saturday. Leonard has yet to play this season because of a chronic knee issue, but he did return to contact practices before the Clippers departed for a three-game road trip last week. Head coach Tyronn Lue said Leonard needed to participate in full practices before the team would consider the star's return. The Clippers have won three of their last four games to represent another high point in an up-and-down season. One of their most impressive victories occurred Monday, 114-110 on the road against the Memphis Grizzlies. Norman Powell continues to look comfortable in a leading-scorer role with 29 points, while going 4 of 8 from 3-point range. James Harden had 21 points, nine assists and eight rebounds in his do-everything point-guard role. Ivica Zubac controlled the inside with 20 points and 19 rebounds and added four steals. "Everybody's involved," Lue said. "It's not coaches and players. We're all on the same team and that's how we treat each other. It's not this side and that side. We're all together. We win together, we lose together, we make mistakes together. That's who we are." Staying a collective unit has helped the Clippers to excel on defense and that came to the forefront by holding the Grizzlies to 20 points in the fourth quarter. Memphis was well under its NBA-best 122.7 points per game. "To hold them to 110 on their home floor says a lot about what we're doing defensively," Lue said. Curry nearly pulled off an unlikely comeback for the Warriors on Christmas Day when he scored eight points in the final 25.7 seconds and made a pair of 3-pointers in the final 12.9 seconds. But Golden State could not overcome a 109-100 deficit with 1:30 to play despite Curry tying the game on a 3-pointer with 7.6 seconds left. Curry scored 38 points in what head coach Steve Kerr said was a "hard" 36 minutes. Andrew Wiggins scored 21 points with 12 rebounds. Before the game, Curry conducted a players-initiated meeting that stressed the urgency needed in the upcoming portion of the schedule. Even in defeat, the message seemed to be received, with Curry leading by example. "We're right in that window where we can still regain some momentum for the next however many weeks before the (All-Star) break," Curry said. "Or else we're in a situation where we're chasing down the stretch and nobody wants to be there." While Golden State did put forth a winning effort Wednesday, the reality is that the team has dropped five of its last six games. "We had a great vibe early in the season and we're going through it right now, but I love our guys," Kerr said. "High-character guys. They care." This article first appeared on Field Level Media and was syndicated with permission.
A Virginia zoo welcomes newborn pygmy hippopotamus as year ends