NonePresident Joe Biden's final move to help Ukraine should be to seize Russia's reserve assets held by the US before the start of Donald Trump's second term, two researchers wrote this week. "To motivate Europe to stand on its own in the era of Trump, President Joe Biden should set the precedent for sovereign seizure and confiscate the estimated $4-5 billion of Russian assets in the United States' jurisdiction," Research Institute fellow Maximilian Hess wrote alongside Carey K. Mott, a researcher at the Yale Program on Financial stability. Congress granted the outgoing president this authority in an April law known as the , but Biden has held off on using it until European powers follow suit. The US and its Western allies froze roughly $322 billion worth of as part of the package of financial and economic sanctions againts the Kremlin over its invasion of Ukraine. These assets are recognized as a significant source of potential defense funding for Kyiv, but Western leaders have been cautious. To avoid a negative response from Moscow, complete seizure of the assets has so far been off the table. Instead, the Group of Seven has agreed to as collateral for a $50 billion loan to Ukraine. But Hess and Mott argue that more should be done before the White House changes hands. President-elect Trump could withdraw US financial backing for Kyiv, they said, pulling a key pillar of support for the country's fight against Russia. The researchers expect that Biden has been waiting for unilateral " " to seize Kremlin assets, but the chances of finding this in Europe appear slim. "Europe has demurred, citing negative impacts to the euro and concerns over the European Union's international financial role," they said. "Saudi Arabia, for example, has threatened to sell its European debt holdings if Europe seizes the frozen assets." Political realities among EU leaders also play a role, Hess and Mott noted, citing a dissolved coalition in Germany and Hungary's continued opposition. Faced with this, Biden should forgo multilateral action before he leaves office in January, they argued. The US wouldn't be completely alone in doing so — both Canada and the United Kingdom appear willing to seize assets held in their countries. "But neither ally will act unless they are following Washington's lead. By setting a precedent for exercising asset-seizure authority, and demonstrating Putin's limited ability to respond, the United States and its allies can help smooth the legislative path to asset seizure in Europe, opening the possibility for the European Parliament to finance Ukrainian resistance if the next U.S. presidential administration does pull back its support." Russia has warned of retaliation if its frozen assets are seized, cautioning that it could seize Western-owned corporate assets . On Wednesday, Treasury Secretary Janet Yellen noted that the administration is considering extra sanctions on Russia before it leaves the White House. She also told that Washington's contribution to the Ukraine loan should stay in place in the future. "What we're really trying to do is to strengthen Ukraine's situation, its ability to defend itself, and hopefully at some point to come to the table to bargain with Russia for a just peace," she said. Read the original article on
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Ex-Colorado footballer Bloom dedicates time to fulfilling wishes for older adultsNEW YORK (AP) — U.S. stock indexes reached more records after tech companies talked up how much artificial intelligence is boosting their results. The S&P 500 climbed 0.6% Wednesday to add to what looks to be one of its best years of the millennium. The Dow Jones Industrial Average gained 0.7%, while the Nasdaq composite added 1.3% to its own record. Salesforce pulled the market higher after highlighting its artificial-intelligence offering for customers. Marvell Technology jumped even more after saying it’s seeing strong demand from AI. Treasury yields eased, while bitcoin climbed after President-elect Donald Trump nominated a crypto advocate to head the Securities and Exchange Commission. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stock indexes are rising toward more records Wednesday after tech companies talked up how much of a boost they're getting from artificial intelligence . The S&P 500 climbed 0.5% to add to what looks to be one of its best years of the millennium. It’s on track to set an all-time high for the 56th time this year after coming off 10 gains in the last 11 days . The Dow Jones Industrial Average was up 252 points, or 0.6%, with an hour remaining in trading, while the Nasdaq composite was adding 1.2% to its own record. Salesforce helped pull the market higher after delivering stronger revenue for the latest quarter than analysts expected, though its profit fell just short. CEO Mark Benioff highlighted the company’s artificial-intelligence offering for customers, saying “the rise of autonomous AI agents is revolutionizing global labor, reshaping how industries operate and scale.” The stock of the company, which helps businesses manage their customers, rose 9.3%. Marvell Technology jumped even more after delivering better results than expected, up 23.2%. CEO Matt Murphy said the semiconductor supplier is seeing strong demand from AI and gave a forecast for profit in the upcoming quarter that topped analysts’ expectations. They helped offset a 9.8% drop for Foot Locker, which reported profit and revenue that fell short of analysts’ expectations. CEO Mary Dillon said the company is taking a more cautious view, and it cut its forecasts for sales and profit this year. Dillon pointed to how keen customers are for discounts and how soft demand has been outside of Thanksgiving week and other key selling periods. Retailers overall have offered mixed signals about how resilient U.S. shoppers can remain. Their spending has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable because of high interest rates brought by the Federal Reserve to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A narrower report released on Wednesday morning may have offered a preview of it. The report from ADP suggested employers in the private sector increased their payrolls by less last month than economists expected. Hiring in manufacturing was the weakest since the spring, according to Nela Richardson, chief economist at ADP. The report strengthened traders’ expectations that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. The central bank had appeared set to continue cutting rates into next year, but the election of Donald Trump has scrambled Wall Street’s expectations somewhat. Trump’s preference for higher tariffs and other policies could lead to higher economic growth and inflation , which could alter the Fed’s plans . Fed Chair Jerome Powell said Wednesday that the central bank can afford to cut its benchmark rate cautiously because inflation has slowed significantly from its peak two years ago and the economy remains sturdy. A separate report on Wednesday said health care, finance and other businesses in the U.S. services sector are continuing to grow, but not by as much as before and not by as much as economists expected. One respondent from the construction industry told the survey from the Institute for Supply Management that the Fed’s rate cuts have not pulled down mortgage rates as much as hoped yet. Plus “the unknown effect of tariffs clouds the future.” In the bond market, the yield on the 10-year Treasury fell to 4.18% from 4.23% late Tuesday. On Wall Street, Campbell’s fell 6% for one of the S&P 500’s sharper losses despite increasing its dividend and reporting a stronger profit for the latest quarter than analysts expected. Its revenue fell short of Wall Street’s expectations, and the National Football League’s Washington Commanders hired Campbell’s CEO Mark Clouse as its team president. Campbell’s said Mick Beekhuizen, its president of meals and beverages, will become its 15th CEO following Clouse’s departure. Gains for airline stocks helped offset that drop after JetBlue Airways said it saw stronger bookings for travel in November and December following the presidential election. It said it’s also benefiting from lower fuel prices, as well as lower costs due to improved on-time performance. JetBlue jumped 8.3%, while Southwest Airlines climbed 2.8%. In stock markets abroad, South Korea’s Kospi sank 1.4% following a night full of drama in Seoul. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night, prompting troops to surround the parliament. Yoon accused pro-North Korean forces of plotting to overthrow one of the world’s most vibrant democracies. The martial law declaration was revoked about six hours later. Samsung Electronics fell 0.9% in Seoul. The country’s financial regulator said it was prepared to deploy 10 trillion won ($7.07 billion) into a stock market stabilization fund at any time, the Yonhap news agency reported. In the crypto market , bitcoin climbed back above $97,000 after Trump said he would nominate Paul Atkins , a cryptocurrency advocate, to chair the Securities and Exchange Commission. AP Writers Matt Ott and Zimo Zhong contributed.
WOONSOCKET, R.I. , Dec. 6, 2024 /PRNewswire/ -- CVS Health Corporation ("CVS Health", NYSE: CVS) announced today the Reference Yield and Total Consideration (as summarized in the table below) to be paid in connection with the previously announced cash tender offer (the "Any and All Tender Offer") for any and all of its 4.100% Senior Notes due 2025 (the "Any and All Notes"). The Reference Yield and Total Consideration for the Any and All Notes are summarized in the tables below: Any and All Notes : Title of Notes CUSIP Number Original Issuer Principal Amount Outstanding Maturity Date UST Reference Security Bloomberg Reference Page Fixed Spread (bps) Reference Yield Total Consideration (1) 4.100% Senior Notes due 2025 126650CW8 CVS Health Corporation $950,087,000 3/25/2025 3.875% due 3/31/2025 FIT3 +25 bps 4.434 % $998.22 (1) Per $1,000 principal amount of Any and All Notes validly tendered at or prior to the Any and All Expiration Date and accepted for purchase. The Any and All Tender Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated December 2, 2024 (as it may be amended or supplemented from time to time, the "Offer to Purchase"), which sets forth a more detailed description of the Any and All Tender Offer. Copies of the Offer to Purchase and the form of notice of guaranteed delivery with respect to the Any and All Notes ("Notice of Guaranteed Delivery") are available at www.dfking.com/cvs . The Any and All Tender Offer is open to all registered holders (individually, a "Holder" and collectively, the "Holders") of the Any and All Notes. The Total Consideration for each $1,000 principal amount of the Any and All Notes was determined in the manner described in the Offer to Purchase by reference to the fixed spread set forth in the table above plus the yield to maturity of the UST Reference Security set forth in the table above on the bid-side price of such UST Reference Security as of 11:00 a.m. , New York City time, on December 6, 2024 . Any and All Notes validly tendered and not validly withdrawn, or in respect of which a properly completed and duly executed Notice of Guaranteed Delivery is delivered pursuant to the guaranteed delivery procedures described in the Offer to Purchase (the "Guaranteed Delivery Procedures"), at or prior to 5:00 p.m. , New York City time, on December 6, 2024 (such date and time, as it may be extended, the "Any and All Expiration Date") (unless earlier terminated by CVS Health as described in the Offer to Purchase), that are accepted for purchase will receive the Total Consideration for the Any and All Notes. The settlement date for the Any and All Notes validly tendered at or prior to the Any and All Expiration Date, or validly tendered pursuant to the Guaranteed Delivery Procedures, and accepted for purchase is expected to be December 11, 2024 , the third business day following the Any and All Expiration Date (the "Any and All Settlement Date"). In addition to the Total Consideration for the Any and All Notes, Holders of the Any and All Notes accepted for purchase will receive accrued and unpaid interest ("Accrued Interest") on those Any and All Notes from the last interest payment date with respect to those Any and All Notes to, but not including, the Any and All Settlement Date. Holders who tender their Any and All Notes at or prior to 5:00 p.m. , New York City time, on December 6, 2024 (such date and time, as it may be extended, the "Any and All Withdrawal Deadline") may withdraw such tendered Any and All Notes at any time at or prior to the Any and All Withdrawal Deadline. Following the Any and All Withdrawal Deadline, Holders who have tendered their Any and All Notes may not withdraw such Any and All Notes unless CVS Health is required to extend withdrawal rights under applicable law. CVS Health expressly reserves the right, in its sole discretion, subject to applicable law, to amend, extend or terminate the Any and All Tender Offer at any time prior to the Any and All Expiration Date. The Any and All Tender Offer is not conditioned on any minimum principal amount of Any and All Notes being tendered but the Any and All Tender Offer is subject to a financing condition and certain other general conditions as described in the Offer to Purchase. CVS Health has retained Barclays Capital Inc. and Mizuho Securities USA LLC to act as Dealer Managers for the Tender Offers (as defined in the Offer to Purchase). D.F. King & Co., Inc. has been retained to act as the Tender and Information Agent for the Tender Offers. The Offer to Purchase and, in connection with the Any and All Notes, the Notice of Guaranteed Delivery may be accessed at the following link: http://www.dfking.com/cvs . Requests for assistance relating to the procedures for tendering Notes (as defined in the Offer to Purchase) may be directed to the Tender and Information Agent either by email at cvs@dfking.com , or by phone (212) 269-5550 (for banks and brokers only) or (800) 487-4870 (for all others toll free). Requests for assistance relating to the terms and conditions of the Tender Offers may be directed to Barclays Capital Inc. at (800) 438-3242 (toll free) or (212) 528-7581 (collect) or Mizuho Securities USA LLC at (866) 271-7403 (toll-free) or (212) 205-7741. Beneficial owners may also contact their broker, dealer, commercial bank, trust company or other nominee for assistance. This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to, the Notes. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Tender Offers are being made solely pursuant to the Offer to Purchase made available to Holders of the Notes. None of CVS Health, the Dealer Managers, Tender and Information Agent or the trustees with respect to the Notes, or any of their respective affiliates, is making any recommendation as to whether or not Holders should tender or refrain from tendering all or any portion of their Notes in response to the Tender Offers. Holders are urged to evaluate carefully all information in the Offer to Purchase, consult their own investment and tax advisers and make their own decisions whether to tender Notes in the Tender Offers, and, if so, the principal amount of Notes to tender. About CVS Health CVS Health is a leading health solutions company building a world of health around every consumer it serves and connecting care so that it works for people wherever they are. As of September 30, 2024 , the Company had more than 9,000 retail locations, more than 900 walk-in medical clinics, more than 225 primary care medical clinics, a leading pharmacy benefits manager with approximately 90 million plan members and expanding specialty pharmacy solutions, and a dedicated senior pharmacy care business serving more than 800,000 patients per year. The Company also serves an estimated more than 36 million people through traditional, voluntary and consumer-directed health insurance products and related services, including expanding Medicare Advantage offerings and a leading standalone Medicare Part D prescription drug plan. The Company is creating new sources of value through its integrated model allowing it to expand into personalized, technology driven care delivery and health services, increasing access to quality care, delivering better health outcomes and lowering overall health care costs. Forward-Looking Statements This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of CVS Health. By their nature, all forward-looking statements are not guarantees of future performance or results and are subject to risks and uncertainties that are difficult to predict and/or quantify. Actual results may differ materially from those contemplated by the forward-looking statements due to the risks and uncertainties described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the heading "Cautionary Statement Concerning Forward-Looking Statements" in our most recently filed Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2024 , June 30, 2024 and September 30, 2024 and our Current Reports on Form 8-K. You are cautioned not to place undue reliance on CVS Health's forward-looking statements. CVS Health's forward-looking statements are and will be based upon management's then-current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements. CVS Health does not assume any duty to update or revise forward-looking statements, whether as a result of new information, future events, uncertainties or otherwise. Investor Larry McGrath Media Ethan Slavin Contact: Executive Vice President Contact: 860-273-6095 Chief Strategy Officer & Ethan.Slavin@CVSHealth.com Chief Strategic Advisor to the CEO investorinfo@cvshealth.com View original content to download multimedia: https://www.prnewswire.com/news-releases/cvs-health-corporation-announces-pricing-of-any-and-all-tender-offer-302325192.html SOURCE CVS Health
Racing Optics® Introduces Game-Changing Twilight Tearoff to Enhance Visibility in Low-Light Racing ConditionsARLINGTON, Va. (AP) — Alex Ovechkin has not missed many games during his two decades in the NHL with the Washington Capitals, and that remarkable durability is one reason why he is fast-approaching Wayne Gretzky's career goals record. The Capitals had lost 33 of their 59 games without Ovechkin in the lineup during his first 19 seasons, including 23 of 36 over the past decade. In stark contrast to that, they've won six of nine since the 39-year-old captain was sidelined by a broken left fibula — a testament to a roster built not only to help him break the record but prepare the organization for the post-Ovechkin era. “Ovi, he’s a legend, he’s special, he’s always going to probably lead the team in goals and we’re a better team with him, but we’re also a team where I think we’re not necessarily maybe relying on one or two players to win games,” said center Lars Eller, who rejoined the team in a trade from Pittsburgh a month ago. “We have four pretty strong lines, three D pairs and two good goalies. We don’t depend on one or two individuals, and I think that’s the strength of the team.” Depth fortified by the additions of centers Dylan Strome , Pierre-Luc Dubois and Eller, wingers Andrew Mangiapane , Brandon Duhaime and Taylor Raddysh, defensemen Jakob Chychrun, Matt Roy and Rasmus Sandin and goaltenders Charlie Lindgren and Logan Thompson over the past few years has been the key to remaining a playoff contender. Longtime general manager Brian MacLellan, who after the most recent makeover this past summer handed day-to-day duties to Chris Patrick and moved upstairs as president of hockey operations, excelled in keeping Washington's winning window open with Ovechkin in the second-to-last year of his contract. Veteran defenseman John Carlson said the infusion of talent “really lit a fire under everybody.” The Capitals led the Eastern Conference when Ovechkin got injured Nov. 18, and they remain atop the East more than three weeks into his absence. Fourteen players have scored a goal during this stretch, including six wins and an overtime defeat since losing the first two without him. “We’re a deep group,” said right winger Tom Wilson, the team's leading scorer during this stretch with nine points on five goals and four assists who expects to continue playing with a shield protecting his face after breaking a small bone in the sinus cavity area on the left side. "Everybody’s kind of stepping up on any given night. It’s a real group effort, and I think guys are really playing for each other.” Carlson, who along with Ovechkin, Wilson and now Eller upon return are the only players left from Washington's 2018 Stanley Cup championship team, also sees it as a case of younger teammates taking advantage of this chance. “There’s the colossal emptiness of it, but there’s also a lot of opportunity for guys who would never otherwise be there when he’s on this team,” Carlson said. “When someone goes down, it’s obviously always kind of a rallying thing where guys need to step up, guys need to fill in and play bigger roles and play more minutes. But I think the way that our team’s built is depth, and that’s been our strength this year is kind of contributions from everybody.” Ovechkin led all players with 15 goals when he went down, and the Capitals were the high-scoring team in the league at 4.33 goals a game. They still are, down just a tick to an average of 4.04, and their 16 goals from defensemen are a big reason for that after ranking second-last in blue line production last season. “We’re playing to our structure and doing what we want to do out there,” said Chychrun, who has eight points in nine games as part of an impressive start to his contract year. “We’ve got a D corps where everybody’s a really good player on that back end and can play in all situations and two-way guys and guys who have contributed offensively throughout their career.” Another major defense is second-year coach Spencer Carbery , who acknowledged the structure and playing standard as a good place to start but pointed the credit to veteran leaders like Carlson, Strome, Wilson and Nic Dowd for shepherding the Capitals through Ovechkin-less hockey. “They don’t go around the room and go, ‘Hey, we’ve got to do more, guys,’” Carbery said. “They don’t announce it, but what they do is they think about it and go: ‘OK, we’re missing him. I’ve got to step my game up and I need to bring more.’ And that’s not just on the ice, on the power play, on 5 on 6 when we’re defending a lead. It’s not just the Xs and Os. It’s in the locker room. It’s energy in practice. It’s all the things that he brings every day when he’s in the lineup and when he’s practicing.” Ovechkin skated before practice Wednesday and got an assist from longtime running mate Nicklas Backstrom, who stepped away 13 months ago because of a lingering hip injury. Carlson quipped, “I think Ovi wanted someone with a little more skill passing him the rock out there.” The day is coming soon when Ovechkin returns to team drills and then game action. The Capitals are doing more than stay afloat without him, but they'll welcome him back with open arms the moment he's ready. As Eller said, “Obviously I think we’re even better when he’s in the lineup.” ___ AP NHL: https://apnews.com/hub/nhl Stephen Whyno, The Associated PressAppeals court upholds nationwide TikTok ban-or-sale law