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2025-01-21
The Dow rocketed to a fresh record Friday, extending a post-election US equity rally while the euro retreated against the dollar following weak eurozone data. The blue-chip index piled on one percent to end the day at 44,296.51, narrowly overtaking a record set earlier this month. Major American indices have been at or near record territory since the US election, with investors betting that President-elect Donald Trump's program of tax cuts and regulatory scale-back would more than offset the drag from expected tariff increases. "The trading most of this week has been influenced by the growth agenda," said Jack Ablin, chief investment officer at Cresset Capital Management. Market watchers have been cheered this week by a broadening of the rally beyond the tech names that dominated earlier in the year. The dollar also continued to strengthen, reflecting less certainty about additional Federal Reserve interest rate cuts and the US currency's status as a haven asset amid escalating tensions in the Russia-Ukraine war. The euro was also battered by a closely watched survey showing contractions in November business activity in the eurozone. The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global dropped to 48.1 compared to 50.0 in October, the most marked rate of contraction in 10 months. Any reading above 50 indicates growth, while a figure below 50 shows contraction. "Things could hardly have turned out much worse," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. "The eurozone's manufacturing sector is sinking deeper into recession, and now the services sector is starting to struggle after two months of marginal growth." But as the euro fell both Paris and Frankfurt stocks managed to recover their losses and advance. "The eurozone data has increased the chance of more rate cuts from the ECB next year," said Kathleen Brooks, research director at XTB, as well a cut of 50 basis points next month. "Investors have been jolted into recalibrating interest rate expectations on the back of this bleak economic news," she added. London managed to gain 1.4 percent despite data showing that retail sales figures for October undershot forecasts, as the pound fell against the dollar. In Asia, Tokyo climbed as the government prepared to announce a $140 billion stimulus package to kickstart the country's stuttering economy. However, Hong Kong and Shanghai sank on a sell-off in tech firms caused by weak earnings from firms including Temu-owner PDD Holdings and internet giant Baidu. Bitcoin set a new record high above $99,500 Friday, before easing back slightly. The leading digital currency is expected to soon burst through $100,000 as investors grow increasingly hopeful that Trump will pass measures to deregulate the crypto sector. Bitcoin has soared more than 40 percent since the Republican's election victory this month and has more than doubled since the turn of the year. The recent surge has also been "driven by news that Trump could set up an official crypto department that would sit in the heart of US government," said XTB's Brooks. New York - Dow: UP 1.0 percent at 44,296.51 (close) New York - S&P 500: UP 0.4 percent at 5,969.34 (close) New York - Nasdaq Composite: UP 0.2 percent at 19,003.65 (close) London - FTSE 100: UP 1.4 percent at 8,262.08 (close) Paris - CAC 40: UP 0.6 percent at 7,255.01 (close) Frankfurt - DAX: UP 0.9 percent at 19,322.59 (close) Tokyo - Nikkei 225: UP 0.7 percent at 38,283.85 (close) Hong Kong - Hang Seng Index: DOWN 1.9 percent at 19,229.97 (close) Shanghai - Composite: DOWN 3.1 percent at 3,267.19 (close) Euro/dollar: DOWN at $1.0418 from $1.0474 on Thursday Pound/dollar: DOWN at $1.2530 from $1.2589 Dollar/yen: UP at 154.83 yen from 154.54 yen Euro/pound: DOWN at 83.11 pence from 83.20 pence West Texas Intermediate: UP 1.6 percent at $71.24 per barrel Brent North Sea Crude: UP 1.3 percent at $75.17 per barrel burs-jmb/mlmfish vending

Baker Mayfield, high-flying Bucs visit Chargers in matchup of teams with winning records

Undercover FBI agents had no role in US Capitol attack: reportPASIG, Philippines, December 2024 – Metro Pacific Investments Corporation (MPIC) and Maynilad Water Services, Inc. are collaborating to spearhead a large-scale reforestation initiative through the “Plant for Life: Save the Ipo Watershed” program. This partnership, formalized through a Memorandum of Understanding signed on November 8, 2024, highlights both organizations’ aligned goals to make a meaningful impact on the environment. Over the next three years, the initiative targets reforesting and caring for 25 hectares annually within the Ipo Watershed, a vital water source for Metro Manila. It also aims to provide an additional source of income to the Dumagat community living inside the watershed by engaging them as reforestation partners. By the end of 2026, the project will restore 75 hectares of forest, contributing to the sustainability of the watershed, creating livelihood opportunities, and enriching biodiversity. A Partnership Rooted in Shared Goals This initiative leverages the strengths of both MPIC and Maynilad. MPIC, committed to producing measurable outcomes in sustainability, will provide manpower, financial support, and logistical assistance for the reforestation project. Meanwhile, Maynilad will take the lead in technical implementation, identifying optimal planting sites, sourcing native seedlings, and monitoring the program’s progress. “Our partnership with Maynilad is a tangible example of how collaboration can lead to impactful solutions for both the environment and the communities that depend on it,” said June Cheryl Cabal-Revilla, MPIC’s Chief Finance, Risk, and Sustainability Officer. “This program mirrors the value of taking deliberate actions to secure our natural resources while strengthening community involvement and environmental stewardship.” Leveraging Expertise for Environmental and Community Benefits Maynilad’s Plant for Life program aligns the efforts of private corporations, government entities, and civil society to support vital conservation work. Atty. Roel Espiritu, Vice President and Head of Quality, Sustainability, and Resiliency Division of Maynilad, shared: “Maynilad’s Plant for Life brings together the private sector, government, and civil society organizations towards the common goal of protecting critical watersheds, preserving biodiversity, mitigating the impact of climate change, and bringing positive change to the communities we serve. With MPIC’s support and partnership, Plant for Life will continue to deliver results that make a difference in safeguarding our planet and empowering the people we serve.” Creating Long-Lasting Environmental and Social Impact The program extends beyond restoring the Ipo Watershed. It actively engages local volunteers, generates livelihood opportunities, and raises awareness about the importance of environmental protection in surrounding communities. This holistic approach ensures that the initiative not only revitalizes the watershed but also empowers those who rely on it. By uniting their expertise and resources, MPIC and Maynilad illustrate how partnerships can lead to impactful, enduring solutions for environmental preservation and community well-being. The Plant for Life program marks an important milestone in fulfilling their shared commitment to sustainability. Being business-savvy should be fun, attainable and A+. BMPlus is BusinessMirror's digital arm with practical tips & success stories for aspiring and thriving millennial entrepreneurs.

Giants release quarterback Daniel Jones just days after benching him EAST RUTHERFORD, N.J. (AP) — The Daniel Jones era in New York is over. The Giants quarterback was granted his release by the team just days after the franchise said it was benching him in favor of third-stringer Tommy DeVito. New York president John Mara said Jones approached the team about releasing him and the club obliged. Mara added he was “disappointed” at the quick dissolution of a once-promising relationship between Jones and the team. Giants coach Brian Daboll benched Jones in favor of DeVito following a loss to the Panthers in Germany that dropped New York's record to 2-8. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.YYAI stock touches 52-week low at $2.51 amid market challenges

The Dow rocketed to a fresh record Friday, extending a post-election US equity rally while the euro retreated against the dollar following weak eurozone data. The blue-chip index piled on one percent to end the day at 44,296.51, narrowly overtaking a record set earlier this month. Major American indices have been at or near record territory since the US election, with investors betting that President-elect Donald Trump's program of tax cuts and regulatory scale-back would more than offset the drag from expected tariff increases. "The trading most of this week has been influenced by the growth agenda," said Jack Ablin, chief investment officer at Cresset Capital Management. Market watchers have been cheered this week by a broadening of the rally beyond the tech names that dominated earlier in the year. The dollar also continued to strengthen, reflecting less certainty about additional Federal Reserve interest rate cuts and the US currency's status as a haven asset amid escalating tensions in the Russia-Ukraine war. The euro was also battered by a closely watched survey showing contractions in November business activity in the eurozone. The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global dropped to 48.1 compared to 50.0 in October, the most marked rate of contraction in 10 months. Any reading above 50 indicates growth, while a figure below 50 shows contraction. "Things could hardly have turned out much worse," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. "The eurozone's manufacturing sector is sinking deeper into recession, and now the services sector is starting to struggle after two months of marginal growth." But as the euro fell both Paris and Frankfurt stocks managed to recover their losses and advance. "The eurozone data has increased the chance of more rate cuts from the ECB next year," said Kathleen Brooks, research director at XTB, as well a cut of 50 basis points next month. "Investors have been jolted into recalibrating interest rate expectations on the back of this bleak economic news," she added. London managed to gain 1.4 percent despite data showing that retail sales figures for October undershot forecasts, as the pound fell against the dollar. In Asia, Tokyo climbed as the government prepared to announce a $140 billion stimulus package to kickstart the country's stuttering economy. However, Hong Kong and Shanghai sank on a sell-off in tech firms caused by weak earnings from firms including Temu-owner PDD Holdings and internet giant Baidu. Bitcoin set a new record high above $99,500 Friday, before easing back slightly. The leading digital currency is expected to soon burst through $100,000 as investors grow increasingly hopeful that Trump will pass measures to deregulate the crypto sector. Bitcoin has soared more than 40 percent since the Republican's election victory this month and has more than doubled since the turn of the year. The recent surge has also been "driven by news that Trump could set up an official crypto department that would sit in the heart of US government," said XTB's Brooks. New York - Dow: UP 1.0 percent at 44,296.51 (close) New York - S&P 500: UP 0.4 percent at 5,969.34 (close) New York - Nasdaq Composite: UP 0.2 percent at 19,003.65 (close) London - FTSE 100: UP 1.4 percent at 8,262.08 (close) Paris - CAC 40: UP 0.6 percent at 7,255.01 (close) Frankfurt - DAX: UP 0.9 percent at 19,322.59 (close) Tokyo - Nikkei 225: UP 0.7 percent at 38,283.85 (close) Hong Kong - Hang Seng Index: DOWN 1.9 percent at 19,229.97 (close) Shanghai - Composite: DOWN 3.1 percent at 3,267.19 (close) Euro/dollar: DOWN at $1.0418 from $1.0474 on Thursday Pound/dollar: DOWN at $1.2530 from $1.2589 Dollar/yen: UP at 154.83 yen from 154.54 yen Euro/pound: DOWN at 83.11 pence from 83.20 pence West Texas Intermediate: UP 1.6 percent at $71.24 per barrel Brent North Sea Crude: UP 1.3 percent at $75.17 per barrel burs-jmb/mlmUndercover FBI agents had no role in US Capitol attack: reportNone

Oscar-winner Cillian Murphy is reprising his role as Birmingham gangster Tommy Shelby for the film. The highly anticipated Peaky Blinders film “won’t be the end” of the popular gangster series, creator Steven Knight has said. Oscar-winner Cillian Murphy is reprising his role as Birmingham gangster Tommy Shelby for the film, which is set following the events of the original BBC drama which ran for six series from 2013 to 2022. Following the film wrapping production, Knight has revealed that it will be around a year before the project is released. Speaking to Times Radio about a future release date, Knight said: “It’s a bit too soon for that, but you know, you can sort of work out that it will be about a year.” Asked if there are any more plans for Peaky Blinders beyond the film, he replied: “It’s interesting you should ask that question because the film is coming out and that won’t be the end.” The screenwriter was questioned if that meant fans could expect more series in the future, but he refused to provide more details. The film is believed to be titled The Immortal Man and has been teased to involve new conflicts for the Shelby family set during the Second World War. Saltburn and The Banshees Of Inisherin star Barry Keoghan will join fellow Irish actor Murphy in the new film. Earlier this month a photo was shared by Netflix of the pair looking jubilant while wearing flat caps and suits as the streamer confirmed filming had wrapped on the project. Other returning cast members include British actors Stephen Graham as union organiser Hayden Stagg and Sophie Rundle as Ada Shelby, while Dune actress Rebecca Ferguson and Pulp Fiction actor Tim Roth have also joined the project. Tom Harper, who previously directed episodes in the first season in 2013, will return to helm the film. Knight previously told Netflix’s Tudum site: “It will be an explosive chapter in the Peaky Blinders story. No holds barred. Full-on Peaky Blinders at war.” When the series came to an end in 2022 after nine years, Tommy appeared to put his criminal past behind him. Across the six series, the show tackled the rise of fascism, Irish republican politics and communist activities throughout the period after the First World War – along with Tommy’s ambitions in politics. Knight later created a stage adaptation of the show for a limited-run production, titled The Redemption Of Thomas Shelby, which featured performances from Rambert’s dancers and a soundtrack from a live on-stage band.LeBron James ruled out of Lakers' game at Minnesota on Friday with foot soreness

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