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New Delhi, Nov 24 (PTI) Gold prices have breached Rs 80,000 per 10 grams levels in major Indian cities, recovering from the impact of Donald Trump's expected high tariff trade policy and a firm US dollar, analysts said. A flare-up in geopolitical tensions due to the Russia-Ukraine war is bolstering the precious metal, which crossed the USD 2,700 an ounce level in global markets, they added. The uncertainty surrounding the US economy and volatile stock markets are also driving inflows into the safe-haven, however, the US Federal Reserve's (Fed) cautious attitude towards policy interest rate and strong US dollar are acting as headwinds for the bullion, analysts stated. On the Multi Commodity Exchange (MCX), gold prices tanked Rs 6,775, or 8.5 per cent, to hit Rs 73,000 per 10 grams after Donald Trump's victory raised expectations of a restricted trade policy by the US. "Gold prices had fallen 8 per cent after the US election results. "The strengthening US dollar index which rose from USD 101 to 107.5 pressured gold immensely, while Trump's pro-cryptocurrency stance during his campaign diverted investor funds seeking higher returns," Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said. Further, Trump's pledge to impose a 10 per cent tariff on all US imports further limits the Federal Reserve's ability to ease aggressively, adding to the downward pressure on gold, he said. However, recent missile attacks by Russia at the Ukrainian city of Dnipro heightened geopolitical tensions, bolstering the gold's appeal as safe haven investment. "Gold prices surged significantly as geopolitical tensions fuelled safe-haven demand, driven by renewed fears of nuclear risks in the ongoing Russia-Ukraine conflict," Trivedi added. Rising global unease pushed gold higher by USD 38 on Comex, closing at USD 2,707 per ounce, and by Rs 900 on MCX, reaching Rs 77,600 on Friday. "This sharp recovery highlights gold's resilience and its role in balancing portfolios during uncertain times," he said. In spot markets, the precious metal of 99.9 per cent purity surged Rs 1,100 to hit a two-week high of Rs 80,400 per 10 grams, while the price of gold of 99.5 per cent purity soared Rs 1,100, to reclaim the Rs 80,000-mark again on Friday. Meanwhile, in futures trade on the MCX on Friday, gold contracts for December delivery rose Rs 69, or 0.09 per cent, to close at Rs 77,685 per 10 grams. Gold regained lost ground, and a bullish sentiment remains intact and the precious metal is likely to trade in a range of Rs 77,000-78,300 on the MCX, analysts said. The ongoing wedding season in India is also pushing gold buying interest by jewellers and retailers, they added. "Wedding season is pivotal for our business, with bridal or wedding jewellery constituting a significant share of our sales. During the ongoing wedding season this year, we are witnessing healthy demand for bridal jewellery across all our stores in India," M P Ahammed, Chairman at Malabar Group, said. Key macroeconomic data, such as the Federal Open Market Committee (FOMC) meeting minutes, and the Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, to be released next week, which will play a critical role in investor sentiment towards the bullion, traders said. Market participants will also await the US Q3 GDP data that will provide further direction for the yellow metal, they added. (This story has not been edited by THE WEEK and is auto-generated from PTI)
Pay first, deliver later: Some women are being asked to prepay for their babyThe Adirondack Thunder made a lot of key signings last season, and one of the more impactful signings that paid off at the end of last season and one of those acquisitions was the signing of Alex Young. The 23-year-old defenseman would put up two goals and six assists for six points in seven games at the end of the 2023-24 season and would play in nine Kelly Cup Playoff games with the Thunder. “I think it was very beneficial for me to get my feet wet and kind of get an experience of the league and how to live a pro lifestyle and use that experience I had for the playoffs to jump right into the regular season this year” Young on being able to get a taste of ECHL experince with the Thunder at the end of last season Early Hockey Days/Juniors Born in Calgary, Alberta, Alex Young found his love for hockey in a backyard pond with his brothers between the ages of four and five. He would then start playing organized hockey with the help of his dad, who volunteered at a learn-to-skate program at a local rink and would end up playing four years in the AJHL with the Canmore Eagles. In four years with the Eagles, he would put up 91 goals and 115 assists for 206 points in 172 career games. Alex would end up being drafted in the seventh round of the 2020 Draft by the San Jose Sharks . “That was pretty cool. I had talked to them beforehand, and I was hoping they were going to take a chance on me and draft me. I was at Colgate University when they drafted me. It was actually during a practice, and my other teammates came out yelling at me cause out skating around, and that’s how they broke the news to me.” Young on being drafted by the Sharks Collegiate Career Young spent his first three collegiate seasons at Colgate University, where he scored 37 goals and 46 assists for 83 points in 100 games as a member of the Raiders. In his first season with Colgate, he scored six goals and seven assists for 13 points in 21 games. He was also named to the ECAC First All-Star Team in 2023, the same year the Raiders won the ECAC Championship. One of the things Young touched on during his time with the Raiders was that he was able to play alongside his brother Colton for three years. Colton has spent the last three seasons in the ECHL with the Greenville Swamp Rabbits , where he’s scored 12 goals and added 19 assists for 31 points in 60 career games. “It was awesome, it’s a great school, the team was awesome, everyone of my teammates and my experience there was something I’ll remember and cherish for the rest of my life. It was also a cool experience to play with my brother for three of those years; to have that experience and play there was something special”. Alex Young on his time at Colgate Alex would end up transferring to Arizona State for his final year of eligibility, where he would put up just six goals and three points for nine points in 37 games. During the 2023-24 season, the Sun Devils would share their rink with the Arizona Coyotes, who were using Mullins Arena as their home rink. “That was definitely a cool experience sharing the ice with the Coyotes. I never really ran into them at all, but we would see a couple of NHL team practice or pregame skate after us. Just to see the atmosphere of the fans to come in and cheer for both us and the Coyotes was pretty special, and that brand new arena is nice too, so it was cool to play there.” Alex Young on the his experience at Arizona State A Strong Start To 2024-25 Undoubtedly, Head Coach/Director of Hockey Operations Pete MacArthur liked what he saw in Young last year and decided to bring him back for the 2024-25 season. Through his first 22 games this season, the 23-year-old forward has put up six goals and eight assists for 14 points, as well as seeing top-line minutes. He is currently tied for second in goals, assists, and points for Adirondack. This article first appeared on Inside The Rink and was syndicated with permission.
In a lengthy speech at the Brookings Institution, a Washington, D.C. think tank, on Tuesday, President Joe Biden forcefully defended his economic legacy and harshly criticized his successor. “Most economists agree the new administration is going to inherit a fairly strong economy, at least at the moment, an economy going through fundamental transformation,” Biden said. “It is my profound hope that the new administration will preserve and build on this progress. Like most great economic developments, this one is neither red nor blue, and America's progress is everyone's progress.” RELATED STORY | What impacts will a Trump presidency have on the economy? The president pointed specifically to record job growth during his tenure and an historically-low unemployment rate, as well as solid GDP performance, major investments in infrastructure and a soaring stock market. Most economists agree Biden’s term in office has coincided with a strong jobs market, and note the economic forecast remains bright – especially when contrasted to that of other peer nations, many of which have struggled to rebound from the COVID-19 pandemic. And yet, Americans by and large disapprove of Biden’s economic tenure, particularly the high costs of goods and services. Though inflation has fallen some, it remains higher than when the president took office and has become a frequent point of attack for Republicans critical of the Biden administration. RELATED STORY | Wealthier Americans are driving retail spending and powering US economy President-elect Donald Trump’s victory last month served in some was as a repudiation of the president’s so-called “Bidenomics” policies, with most voters telling pollsters they were dissatisfied with the state of the U.S. economy and Biden’s handling of the issue. Since Trump’s election, attitudes towards the economy have improved slightly, particularly among Republicans; according to research from Gallup, just eight percent of Republicans in October viewed economic conditions as getting better, compared to 30% last month. Biden himself seemed to acknowledge some missteps in selling his economic vision to Americans. “I also learned something from Donald Trump,” Biden said. “He signed checks for people for $7,400 bucks,” the president noted of the pandemic-era relief measures. Even though Biden approved similar relief efforts during his term, his name never appeared on American’s checks. “I didn't – stupid,” Biden conceded. RELATED STORY | Powell says Fed will likely cut rates cautiously given persistent inflation pressures Seeking to bolster Biden’s economic legacy, the White House on Tuesday launched a new website hailing the “Biden Economy,” featuring statistics about economic performance during his term and complimentary videos from his supporters. Biden’s speach, meanwhile, also served as a warning of sorts to his successor, with the president arguing against tax cuts for the wealthy and the notion that such benefits would “trickle down” to middle class Americans. “You can make as much money as you can, good for you, but everybody's got to be they pay their fair share,” Biden said. Trump has pledged to extend the tax cuts he signed into law in 2017, telling NBC News he intends to submit a tax package to Congress within his first 100 days in office. “They’re coming due and they’re very substantial for people,” Trump said of his 2017 cuts. “That’s what led us to one of the greatest economies ever.” RELATED STORY | Amid corporate layoffs, 36% of workforce turns to gig economy for alternative employment A report by the nonpartisan Congressional Budget Office in December found that failing to extend those tax incentives would have a negligible impact on the economy, though Republicans are expected to pursue them and other business tax breaks after they retake both chambers of Congress next year. Trump has also promised to impose significant tariffs on the import of foreign goods from Mexico, Canada and China – despite economists’ and retailers’ warnings that will drive up consumer prices. Trump in the NBC interview said he couldn’t guarantee the move wouldn’t increase consumer costs, something Biden harshly refuted. “I believe we've proven that approach is a mistake over the past four years,” Biden said. “But we all know in time, we all know in time what will happen.”PNC Financial Services Group Inc. boosted its position in West Pharmaceutical Services, Inc. ( NYSE:WST – Free Report ) by 5.6% during the third quarter, Holdings Channel reports. The institutional investor owned 17,975 shares of the medical instruments supplier’s stock after purchasing an additional 955 shares during the quarter. PNC Financial Services Group Inc.’s holdings in West Pharmaceutical Services were worth $5,395,000 as of its most recent SEC filing. Several other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC raised its holdings in shares of West Pharmaceutical Services by 4.7% in the second quarter. Ballentine Partners LLC now owns 742 shares of the medical instruments supplier’s stock valued at $244,000 after purchasing an additional 33 shares during the last quarter. RFG Advisory LLC grew its position in West Pharmaceutical Services by 2.3% in the second quarter. RFG Advisory LLC now owns 1,499 shares of the medical instruments supplier’s stock valued at $494,000 after purchasing an additional 34 shares in the last quarter. Covestor Ltd increased its stake in West Pharmaceutical Services by 14.3% in the 3rd quarter. Covestor Ltd now owns 320 shares of the medical instruments supplier’s stock valued at $96,000 after buying an additional 40 shares during the last quarter. UMB Bank n.a. lifted its position in West Pharmaceutical Services by 1.2% during the 3rd quarter. UMB Bank n.a. now owns 3,941 shares of the medical instruments supplier’s stock worth $1,183,000 after buying an additional 47 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of West Pharmaceutical Services by 0.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,554 shares of the medical instruments supplier’s stock valued at $4,135,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 93.90% of the company’s stock. West Pharmaceutical Services Price Performance NYSE:WST opened at $316.59 on Friday. West Pharmaceutical Services, Inc. has a 52-week low of $265.00 and a 52-week high of $413.70. The company has a market cap of $22.93 billion, a P/E ratio of 46.97, a P/E/G ratio of 24.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.23 and a current ratio of 3.00. The stock’s 50-day simple moving average is $307.01 and its 200 day simple moving average is $314.28. West Pharmaceutical Services Increases Dividend The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 13th were paid a $0.21 dividend. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Wednesday, November 13th. West Pharmaceutical Services’s dividend payout ratio (DPR) is 12.46%. Insider Buying and Selling In other West Pharmaceutical Services news, VP Charles Witherspoon sold 703 shares of West Pharmaceutical Services stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $310.40, for a total transaction of $218,211.20. Following the completion of the transaction, the vice president now directly owns 1,253 shares of the company’s stock, valued at $388,931.20. The trade was a 35.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink . 0.53% of the stock is currently owned by corporate insiders. About West Pharmaceutical Services ( Free Report ) West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products. Featured Articles Want to see what other hedge funds are holding WST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for West Pharmaceutical Services, Inc. ( NYSE:WST – Free Report ). 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NoneAs 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 .
Wind turbine blades play a crucial part in clean energy generation, but their disposal poses a growing challenge. Luckily, innovative solutions provide new ways to keep them out of landfills. As the wind industry grows, there is an increasing need for replacement of older wind turbine blades with larger, more efficient ones. With a lifespan of approximately 25 years, the sheer number of blades and other components that will eventually need to be decommissioned will strain current repurposing and recycling capabilities, leading to increased landfill waste if new solutions are not developed. To address the challenge, developers and rural communities have explored various recycling initiatives. One approach, mechanical recycling, typically uses a shredding facility to break down turbine parts. Companies, like REGEN Fiber in Iowa, use the resulting product to create construction materials such as concrete by mixing fiberglass with rock or plastic. Greg Birkhofer, an Iowan with a passion for conservation, has taken blade recycling a step further by repurposing the most challenging section — the eight-foot base — into fence posts for agricultural use. According to Greg, the recycled posts are stronger and more durable than traditional fence posts, and they are fully insulated. His innovation eliminates the need for constant maintenance, including replacing insulators. If they can be mass produced, Greg believes the blades will prove less expensive than current fencing materials. His vision extends beyond fence posts alone; he believes recycled blades have the potential to be used for a wider range of products, such as dock posts. Pioneers like Greg lead the way in finding new life for decommissioned wind turbine blades. Distinctive vision and creativity will be crucial in shaping the future of wind energy and responsible waste management. ****** Established in 1973, the Center for Rural Affairs is a nonprofit organization working to strengthen small businesses and rural communities through programs addressing social, economic, and environmental issues.
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