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The Associated Press NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing . But it wasn’t just Apple, Nvidia and the like. Bitcoin , gold and other investments also drove higher. Here’s a look at some of the numbers that defined the year. All are as of Dec. 20. 1998 Remember when President Bill Clinton got impeached or when baseball’s Mark McGwire hit his 70th home run against the Montreal Expos? That was the last time the U.S. stock market closed out a second straight year with a leap of at least 20%, something the S&P 500 is on track to do again this year. The index has climbed 24.3% so far this year, not including dividends, following last year’s spurt of 24.2%. 57 The number of all-time highs the S&P 500 has set so far this year. The first came early, on Jan. 19, when the index capped a two-year comeback from the swoon caused by high inflation and worries that high interest rates instituted by the Federal Reserve to combat it would create a recession. But the index was methodical through the rest of the year, setting a record in every month outside of April and August, according to S&P Dow Jones Indices. The latest came on Dec. 6. 3 The number of times the Federal Reserve has cut its main interest rate this year from a two-decade high, offering some relief to the economy. Expectations for those cuts, along with hopes for more in 2025, were a big reason the U.S. stock market has been so successful this year. The 1 percentage point of cuts, though, is still short of the 1.5 percentage points that many traders were forecasting for 2024 at the start of the year. The Fed disappointed investors in December when it said it may cut rates just two more times in 2025, fewer than it had earlier expected. 1,508 That’s how many points the Dow Jones Industrial Average rose by the day after Election Day, as investors made bets on what Donald Trump’s return to the White House will mean for the economy and the world . The more widely followed S&P 500 soared 2.5% for its best day in nearly two years. Aside from bitcoin, stocks of banks and smaller winners were also perceived to be big winners. The bump has since diminished amid worries that Trump’s policies could also send inflation higher. $100,000 The level that bitcoin topped to set a record above $108,000 this past month. It’s been climbing as interest rates come down, and it got a particularly big boost following Trump’s election. He’s turned around and become a fan of crypto, and he’s named a former regulator who’s seen as friendly to digital currencies as the next chair of the Securities and Exchange Commission, replacing someone who critics said was overly aggressive in his oversight. Bitcoin was below $17,000 just two years ago following the collapse of crypto exchange FTX. 26.7% Gold’s rise for the year, as it also hit records and had as strong a run as U.S. stocks. Wars around the world have helped drive demand for investments seen as safe, such as gold. It’s also benefited from the Fed’s cut to interest rates. When bonds are paying less in interest, they pull away fewer potential buyers from gold, which pays investors nothing. $420 It’s a favorite number of Elon Musk, and it’s also a threshold that Tesla’s stock price passed in December as it set a record. The number has a long history among marijuana devotees, and Musk famously said in 2018 that he had secured funding to take Tesla private at $420 per share . Tesla soared this year, up from less than $250 at the start, in part because of expectations that Musk’s close relationship with Trump could benefit the company. $91.2 billion That’s how much revenue Nvidia made in the nine months through Oct. 27, showing how the artificial-intelligence frenzy is creating mountains of cash. Nvidia’s chips are driving much of the move into AI, and its revenue through the last nine months catapulted from less than $39 billion the year before. Such growth has boosted Nvidia’s worth to more than $3 trillion in total. 74% GameStop’s gain on May 13 after Keith Gill, better known as “Roaring Kitty,” appeared online for the first time in three years to support the video game retailer’s stock, which he helped rocket to unimaginable heights during the “ meme stock craze ” in 2021. Several other meme stocks also jumped following his post in May on the social platform X, including AMC Entertainment. Gill later disclosed a sizeable stake in the online pet products retailer Chewy, but he sold all of his holdings by late October . 1.6%, 3.0% and 3.1% That’s how much the U.S. economy grew, at annualized seasonally adjusted rates, in each of the three first quarters of this year. Such growth blew past what many pessimists were expecting when inflation was topping 9% in the summer of 2022. The fear was that the medicine prescribed by the Fed to beat high inflation — high interest rates — would create a recession. Households at the lower end of the income spectrum in particular are feeling pain now, as they contend with still-high prices. But the overall economy has remained remarkably resilient. 20.1% This is the vacancy rate for U.S. office buildings — an all-time high — through the first three quarters of 2024, according to data from Moody’s. The fact the rate held steady for most of the year was something of a win for office building owners, given that it had marched up steadily from 16.8% in the fourth quarter of 2019. Demand for office space weakened as the pandemic led to the popularization of remote work. 3.73 million That’s the total number of previously occupied homes sold nationally through the first 11 months of 2024. Sales would have to surge 20% year-over-year in December for 2024’s home sales to match the 4.09 million existing homes sold in 2023, a nearly 30-year low. The U.S. housing market has been in a sales slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows. A shortage of homes for sale and elevated mortgage rates have discouraged many would-be homebuyers.UConn football notes: Huskies looking to take home a trophy from UMassSans J.T. Miller, Canucks begin 6-game road trip at SenatorsWe are 10 weeks through Xavier Worthy's rookie season with the Kansas City Chiefs, and the speed merchant is showing no signs of slowing down. Around this time of the season, rookies' performances drop as the rigors of professional football take hold. Often said as the longest year in their professional life with the scouting combine, the draft, OTA's, minicamp, training camp, and then a full 17-game season, rookies often find it tough to play out the full year at a high level. But as we approach Week 12, Worthy says his love of the game is keeping him from hitting that rookie wall. “Na, I love football,” Worthy said . “So this is just something I enjoy doing. It’s not something that’s it doesn’t feel like a job, just love playing the game." © Gregory Fisher-Imagn Images Part of what might have Worthy holding that drop-off in production is that he's been used sparingly this season, having played just 63 percent of the offensive snaps and had zero on special teams. Related: Chiefs' Mahomes and JuJu Rave About New Receiver Signing So that keeps his slender frame fresh. What's more, when he is in the game, he hasn't gotten a large number of targets either, with his highest being four in the loss to the Buffalo Bills . That means Worthy isn't consistently taking big, physical hits that can lead to a rookie slowing down. Plus, he has Andy Reid as a head coach and ample veterans to learn from as he looks to finish his first NFL season with a flourish. But as far as that rookie wall that's fast approaching, Worthy is doing well to keep it at arm's length...for now. Related: Is Mahomes Grooming 'The Next Travis Kelce'?
Australia news LIVE: Dutton to announce Coalition’s nuclear policy; Early rates cut unlikely as unemployment dipsBN stock soars to all-time high of $60.22 amid robust growth
NIGERIA’S quest for increased relevance in the global geopolitical and economic space was highlighted at the 11th Nigeria-South Africa Bi-National Commission in Cape Town, South Africa. There, the Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, sought South Africa’s support for the country’s bid to attain full membership in the G20, BRICS, and the BRICS New Development Bank. Nigeria is also seeking South Africa’s support for its assumption of leadership roles in thematic discussions of interest under South Africa’s newly commenced G20 presidency. The G20 Club of Nations, consisting of 19 countries and the European Union, represents about 80 per cent of the global GDP, 75 per cent of global exports, and 60 per cent of the global population. The African Union was allotted full membership recently. The expanded BRICS (Brazil, Russia, India, China, and South Africa), acclaimed as the engine of global economic growth in recent years, accounts for about 37 per cent of the world’s GDP. Nigeria’s conspicuous absence from these influential multilateral forums is a missed opportunity. It highlights the huge implications of the country’s myriad unresolved challenges, including corruption, infrastructural deficits, and insecurity. Regardless, the failure to invite Nigeria into these elite groups underlines a refusal to recognise Nigeria’s growing importance in global economics, geopolitics, and development and for better representation of the Global South in the world order. While Nigeria may be saddled with significant challenges and low rankings of developmental indexes, it remains one of the top three economies in Africa at $362.8bn GDP or $1.28tn in Purchasing Power Parity terms in 2023. Nigeria’s GDP in PPP terms was estimated to be $2.42tn by World Economics for 2023, which is 89 per cent larger than official estimates. Nigeria is a major energy supplier with 36.97 billion barrels of proven crude oil reserves– the 11th largest in the world, and 217 trillion cubic feet of proven natural gas reserves– the 10th largest in the world). Nigeria’s emerging tech and financial services sectors are increasingly positioning the country as a hub for innovation in Africa even as the digital economy supersedes oil as the key driver of GDP at 14 per cent as of 2024. Related News 10 persons on FBI wanted list nabbed in Nigeria – Minister Nigeria in race to host 2026 Fencing Commonwealth champs Top 10 Nigerian holiday destinations to explore this festive season The country is the regional leader in the ECOWAS. It plays a pivotal role in promoting peace and security across West Africa. Its robust intervention in Liberia and Sierra Leone ended the civil wars in those countries. Nigeria’s participation in peacekeeping missions in Sudan and elsewhere has been well applauded. Nigeria’s population, estimated at over 220 million, accounts for nearly 17 per cent of Africa’s population and is projected to surpass the United States to become the third most populous country in the world by 2050. These demographics underline the country’s relevance and present immense opportunities for labour-intensive industries, innovation, and consumer markets. With the focus on “Equality, Solidarity, and Sustainability”, the G20 needs to realise that Nigeria’s inclusion would deepen engagement with African countries in shaping global governance. While this bid and the interest shown in gaining a permanent seat on the UN Security Council remains legitimate, it emphasises that for Nigeria to be taken seriously, it must first take itself seriously. G20 or BRICS membership is associated with many expectations and responsibilities that point to good governance, accountability, sound economic policies, and political stability. Nigeria needs to accelerate actions towards economic diversification and invest more in energy, rail, roads, and port infrastructure to boost industrialisation and the manufacturing sector. The vast potential in agriculture, including livestock and fisheries, and solid minerals should be fully harnessed. Improvements in education infrastructure and outcomes are required to realise the huge potential of Nigeria’s youthful population in science, technology innovation, and entrepreneurship. Nigeria must bring more to the table to justify her membership in these elite clubs.WASHINGTON There is no evidence to suggest that mysterious drones spotted for weeks above New Jersey, including near a sensitive military site, are the work of a foreign adversary, the White House said Thursday. National Security Council spokesperson John Kirby said a federal investigation of visual images has so far determined that "many of the reported sightings are actually manned aircraft that are being operated lawfully." There are no confirmed reports of the drones entering restricted airspace. "We have no evidence at this time that the reported drone sightings pose a national security or a public safety threat or have a foreign nexus," he told reporters. "The Department of Homeland Security and the FBI are investigating these sightings, and they're working closely with state and local law enforcement to provide resources using numerous detection methods to better understand their origin," he added. Kirby said "very sophisticated electronic detection technologies" provided by federal agencies have not been able to corroborate any of the reported sightings. New Jersey Assemblywoman Dawn Fantasia wrote on X Wednesday that the first sighting was reported Nov. 18, and that they "operate in a coordinated manner," oftentimes flying with lights turned off. She said the aircraft, some of which are up to 6 feet (2 meters) in diameter, "appear to avoid detection by traditional methods," including via helicopters and radio frequencies, and do not appear to be flown by hobbyists. Authorities do not know where the drones are taking off from, or where they are landing.
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PORT-AU-PRINCE, Haiti (AP) — Haiti’s health minister has been removed from his post, government officials told The Associated Press on Thursday, following a deadly gang attack on the largest public hospital in the capital, Port-au-Prince. Read this article for free: Already have an account? To continue reading, please subscribe: * PORT-AU-PRINCE, Haiti (AP) — Haiti’s health minister has been removed from his post, government officials told The Associated Press on Thursday, following a deadly gang attack on the largest public hospital in the capital, Port-au-Prince. Read unlimited articles for free today: Already have an account? PORT-AU-PRINCE, Haiti (AP) — Haiti’s health minister has been removed from his post, government officials told The Associated Press on Thursday, following a deadly gang attack on the largest public hospital in the capital, Port-au-Prince. The two government officials, who spoke on condition of anonymity due to the sensitive nature of the issue, said Health Minister Duckenson Lorthe will be replaced by Justice Minister Patrick Pelissier until a new health minister is found. Two journalists and a police officer were killed Tuesday as gang members burst into the General Hospital and fired indiscriminately at reporters who were there to cover the facility’s reopening. It was one of the worst attacks on Haitian media in recent memory. Seven other journalists were injured. Jean Frans Regala, a photographer who survived, said journalists had been invited to the hospital by the health ministry but there was little security at the site. “The fact that the minister of health invited us, you feel that preparations have been made already,” Regala told the AP. “When we made contact with a police unit, the police told us they were not aware of the event.” Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. The health minister did not show up at the event, for reasons that have not been explained. On Tuesday, Johnson “Izo” André, considered Haiti’s most powerful gang leader and part of the Viv Ansanm group of gangs that has taken control of much of Port-au-Prince, posted a video on social media claiming responsibility for the attack. The video said the gang coalition had not authorized the hospital’s reopening. Gang violence has worsened in Haiti since the nation’s president was killed in a 2021 coup attempt. Gangs are believed to control 85% of the capital and earlier this year staged attacks on the main airport and the country’s two largest prisons. The Caribbean country has struggled to organize an election that will restore democratic rule, and is currently governed by a transitional council made up of representatives of political parties, business groups and civil society organizations. Advertisement Advertisement
Share this Story : New law could see Ottawa councillors fired for bad behaviour Copy Link Email X Reddit Pinterest LinkedIn Tumblr Breadcrumb Trail Links News Local News New law could see Ottawa councillors fired for bad behaviour Proposed law would mean city councillors could be fired and barred from running for re-election. Get the latest from Marlo Glass straight to your inbox Sign Up Author of the article: Marlo Glass Published Dec 12, 2024 • Last updated 47 minutes ago • 3 minute read Join the conversation You can save this article by registering for free here . Or sign-in if you have an account. Ottawa city councillor Rick Chiarelli attending a council meeting in Ottawa Wednesday Feb. 27, 2020. Photo by Tony Caldwell / POSTMEDIA Article content Councillors in Ontario municipalities could soon face harsher penalties for violating codes of conduct, including possibly being fired and barred from running for election again, under new provincial legislation introduced Dec. 12. Article content Article content Municipalities across Ontario have long called for the provincial government to update codes of conduct and provide harsher penalties for local elected officials found to have violated them. Advertisement 2 Story continues below This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Elizabeth Payne, David Pugliese, Andrew Duffy, Bruce Deachman and others. Plus, food reviews and event listings in the weekly newsletter, Ottawa, Out of Office. Unlimited online access to Ottawa Citizen and 15 news sites with one account. Ottawa Citizen ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Elizabeth Payne, David Pugliese, Andrew Duffy, Bruce Deachman and others. Plus, food reviews and event listings in the weekly newsletter, Ottawa, Out of Office. Unlimited online access to Ottawa Citizen and 15 news sites with one account. Ottawa Citizen ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Sign In or Create an Account Email Address Continue or View more offers If you are a Home delivery print subscriber, online access is included in your subscription. Activate your Online Access Now Article content In Ottawa, disgraced former city councillor Rick Chiarelli was docketed 450 days’ pay for various code of conduct violations during his lengthy time on council. That money was split between the Ottawa Aboriginal Coalition and the Ottawa Coalition to End Violence Against Women (OCTEVAW). The city’s integrity commissioner issued three reports between 2020 and 2022 which condemned Chiarelli’s behaviour toward women who were on his staff or had applied to work for him. Chiarelli refused to resign and at the time of the integrity commissioner’s findings, a 90-day suspension of pay was the maximum penalty that could be applied for each violation of conduct by a councillor. A 2022 report said in 2014, Chiarelli had offered to pay a female assistant $250 to perform a sexual act on a man she’d met in a Montreal nightclub. The report said Chiarelli later teased the woman about the experience and encouraged her to repeat it. The woman was a part-time assistant in her 20s and worked for Chiarelli between 2013 and 2015. She also alleged that the year before the nightclub incident, Chiarelli gave her a “sheer and revealing shirt” which he asked her to wear to an Ottawa International Animation Festival event, urging her to change clothes in his car while he was present. Evening Update The Ottawa Citizen’s best journalism, delivered directly to your inbox by 7 p.m. on weekdays. There was an error, please provide a valid email address. Sign Up By signing up you consent to receive the above newsletter from Postmedia Network Inc. Thanks for signing up! A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Evening Update will soon be in your inbox. We encountered an issue signing you up. Please try again Article content Advertisement 3 Story continues below This advertisement has not loaded yet, but your article continues below. Article content The commissioner recommended Chiarelli be docked 90 days’ pay for that particular incident, but since his term ended shortly after the report was issued, a motion was made to deduct the remainder of the pay penalty from the six-months severance pay he received for leaving council. That money will also be directed to OCTEVAW and the Ottawa Aboriginal Coalition. Previous integrity commissioner reports substantiated complaints from women, including one who said Chiarelli asked her if she would go braless, and another who said the councillor asked if she would consider stripping and if she had participated in “World Orgasm Day.” Although Chiarelli rejected calls for resignation, he chose not to run for re-election in 2022. He served on Ottawa’s city council starting in 2000 and was a councillor in the former city of Nepean before that. A number of private members bills have been introduced in the provincial legislature in recent years with the intention of bringing harsher penalties for councillors who have misbehaved, but none passed. Among them was a bill introduced by Orléans Liberal MPP Stephen Blais, a former Ottawa city councillor, that would allow councillors to be removed from council for serious ethics violations. Advertisement 4 Story continues below This advertisement has not loaded yet, but your article continues below. Article content But now that the new bill was introduced by Municipal Affairs Minister Paul Calandra with government support, it will likely pave the way to creating a standard code of conduct in municipalities across the province, as well as beefing up penalties if they seriously violate the code. The proposed legislation also includes a province’s integrity commissioner inquiry process that would be consistent throughout the province, and mandatory code of conduct training for councillors and certain local boards. “We had to make sure we got this right, which is why we worked with Ontario’s integrity commissioner to find the best path forward to create a standardized code of conduct process across the province,” said Calandra in a press statement. “This process will support consistent accountability across our municipalities.” The legislation maps out the process to be followed if councillors seriously violate a municipality’s code of conduct. Removal from city council, and disqualification from running again, could only occur on the recommendation of the municipal integrity commissioner, a concurring report from the Integrity Commissioner of Ontario and a unanimous vote of council. The member who is the subject of the report won’t be able to cast a vote. With files from Blair Crawford. Our website is your destination for up-to-the-minute news, so make sure to bookmark our homepage and sign up for our newsletters so we can keep you informed. Recommended from Editorial Private member's bill would OK removal of misbehaving Ontario councillors Chianello: In Ontario, we still can't fire a city councillor for sexual harassment Article content Share this article in your social network Share this Story : New law could see Ottawa councillors fired for bad behaviour Copy Link Email X Reddit Pinterest LinkedIn Tumblr Comments You must be logged in to join the discussion or read more comments. 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