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NEW YORK — Donald Trump used his image as a successful New York businessman to become a celebrity, a reality television star and eventually the president. Now he will get to revel in one of the most visible symbols of success in the city when he rings the opening bell of the New York Stock Exchange on Thursday as he's also named Time Magazine's Person of the Year. Trump is expected to be on Wall Street to mark the ceremonial start of the day's trading, according to four people with knowledge of his plans. He will also be announced Thursday as Time's 2024 Person of the Year , according to a person familiar with the selection. The people who confirmed the stock exchange appearance and Time award were not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity. It will be a notable moment of twin recognitions for Trump, a born-and-bred New Yorker who at times has treated the stock market as a measure of public approval and has long-prized signifiers of his success in New York's business world and his appearances on the covers of magazines — especially Time. Trump was named the magazine's Person of the Year in 2016, when he was first elected to the White House. He had already been listed as a finalist for this year's award alongside Vice President Kamala Harris, X owner Elon Musk, Israeli Prime Minister Benjamin Netanyahu and Kate, the Princess of Wales. Time declined to confirm the selection ahead of Thursday morning's announcement. “Time does not comment on its annual choice for Person of the Year prior to publication,” a spokesperson for the magazine said Wednesday. The ringing of the bell is a powerful symbol of U.S. capitalism — and a good New York photo opportunity at that. Despite his decades as a New York businessman, Trump has never done it before. It was unclear whether Trump, a Republican, would meet with New York's embattled mayor, Democrat Eric Adams , who has warmed to Trump and has not ruled out changing his political party. Adams has been charged with federal corruption crimes and accused of selling influence to foreign nationals; he has denied wrongdoing. Trump himself was once a symbol of New York, but he gave up living full-time in his namesake Trump Tower in Manhattan and moved to Florida after leaving the White House. CNN first reported Wednesday Trump’s visit to the stock exchange and Politico reported that Trump was expected to be unveiled as Time's Person of the Year. The stock exchange regularly invites celebrities and business leaders to participate in the ceremonial opening and closing of trading. During Trump’s first term, his wife, Melania Trump, rang the bell to promote her “Be Best” initiative on children’s well-being. Last year, Time CEO Jess Sibley rang the opening bell to unveil the magazine's 2023 Person of the Year: Taylor Swift . After the Nov. 5 election, the S&P 500 rallied 2.5% for its best day in nearly two years. The Dow Jones Industrial Average surged 1,508 points, or 3.6%, while the Nasdaq composite jumped 3%. All three indexes topped records they had set in recent weeks. The U.S. stock market has historically tended to rise regardless of which party wins the White House, with Democrats scoring bigger average gains since 1945. But Republican control could mean big shifts in the winning and losing industries underneath the surface, and investors are adding to bets built earlier on what the higher tariffs, lower tax rates and lighter regulation that Trump favors will mean. Trump has long courted the business community based on his own status as a wealthy real estate developer who gained additional fame as the star of the TV show “The Apprentice” in which competitors tried to impress him with their business skills. He won the election in part by tapping into Americans' deep anxieties about an economy that seemed unable to meet the needs of the middle class. The larger business community has applauded his promises to reduce corporate taxes and cut regulations. But there are also concerns about his stated plans to impose broad tariffs and possibly target companies that he sees as not aligning with his own political interests. Trump spends the bulk of his time at his Florida home but was in New York for weeks this spring during his hush money trial there. He was convicted, but his lawyers are pushing for the case to be thrown out in light of his election. While he spent hours in a Manhattan courthouse every day during his criminal trial, Trump took his presidential campaign to the streets of the heavily Democratic city, holding a rally in the Bronx and popping up at settings for working-class New Yorkers: a bodega, a construction site and a firehouse. Trump returned to the city in September to meet with Ukrainian President Volodymyr Zelenskyy at his Manhattan tower. At the stock exchange, the ringing of the bell has been a tradition since the 1800s. The first guest to do it was a 10-year-old boy named Leonard Ross, in 1956, who won a quiz show answering questions about the stock market. Many times, companies listing on the exchange would ring the bell at 9:30 a.m. to commemorate their initial offerings as trading began. But the appearances have become an important marker of culture and politics -- something that Trump hopes to seize as he’s promised historic levels of economic growth. The anti-apartheid advocate and South African President Nelson Mandela rang the bell, as has Hollywood star Sylvester Stallone with his castmates from the film “The Expendables.” So, too, have the actors Robert Downey Jr. and Jeremy Renner for an “Avengers” movie and the Olympians Michael Phelps and Natalie Coughlin. In 1985, Ronald Reagan became the first sitting U.S. president to ring the bell. “With tax reform and budget control, our economy will be free to expand to its full potential, driving the bears back into permanent hibernation,” Reagan said at the time. “We’re going to turn the bull loose.” The crowd of traders on the floor chanted, “Ronnie! Ronnie! Ronnie!” The Dow Jones Industrial Average climbed in 1985 and 1986, but it suffered a decline in October 1987 in an event known as “Black Monday.” ___ Long reported from Washington. Associated Press writer Josh Boak in Washington contributed to this report.
Gainers SEALSQ LAES shares moved upwards by 80.4% to $1.03 during Wednesday's pre-market session. The company's market cap stands at $34.9 million. AmpliTech Gr AMPG shares moved upwards by 76.39% to $1.75. The company's market cap stands at $21.9 million. Frequency Electronics FEIM shares rose 27.05% to $16.25. The market value of their outstanding shares is at $155.4 million. The company's, Q2 earnings came out yesterday. Rigetti Computing RGTI shares moved upwards by 22.8% to $7.97. The company's market cap stands at $2.2 billion. Verb Tech VERB stock increased by 19.04% to $8.75. The market value of their outstanding shares is at $8.6 million. Photronics PLAB shares rose 18.44% to $29.99. The market value of their outstanding shares is at $1.9 billion. As per the news, the Q4 earnings report came out today. Losers CSP CSPI stock decreased by 10.7% to $15.0 during Wednesday's pre-market session. The market value of their outstanding shares is at $146.4 million. Taoping TAOP shares declined by 10.57% to $0.33. The market value of their outstanding shares is at $1.4 million. TROOPS TROO stock decreased by 10.35% to $2.08. The market value of their outstanding shares is at $211.3 million. Signing Day Sports SGN stock declined by 10.31% to $3.22. The market value of their outstanding shares is at $1.8 million. Telos TLS shares declined by 8.84% to $3.3. The market value of their outstanding shares is at $238.8 million. Brand Engagement Network BNAI shares decreased by 7.57% to $0.81. The market value of their outstanding shares is at $30.6 million. See Also: www.benzinga.com/money/tech-stocks/ This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
America’s first trans member of Congress isn’t taking Nancy Mace’s rage bait
As finance minister, he paved the way for a transformative liberalisation of the state-controlled economy India’s former prime minister Manmohan Singh, who died aged 92 on Thursday, launched a transformative liberalisation of the state-controlled economy during a 1991 currency crisis, putting the country on a long-term trajectory of faster growth and rising global influence. As finance minister from 1991 until 1996, Singh overcame entrenched political resistance to end decades of isolation and stagnation, open India’s doors to greater foreign trade and private investment, and begin its integration into the global economy. The Oxford-trained economist, known for his mild, self-effacing manner and personal integrity, was subsequently tapped by Sonia Gandhi, the Italian-born Congress party leader, to serve as premier after the party’s shock electoral victory in 2004. Singh was considered by Gandhi a safe, technocratic choice to lead India, who would not emerge as a political rival to her or her young son, Rahul, whom she was grooming to eventually take over the party leadership. During his premiership, Singh’s hope of continuing India’s economic reforms was thwarted by Congress’s coalition partners, which objected to many of the measures he wished to pursue. His second term in office from 2009 was seen as opportunity to press ahead with more dramatic reforms. But he ended up weak and isolated within his party as high-profile corruption scandals plagued his administration. Born in 1932 in a rural village in what is today part of Pakistan, Singh, a member of the Sikh faith, migrated to India when British-ruled India was divided into Hindu-majority India and Muslim-majority Pakistan. He attended university in India, then obtained a degree from Cambridge and a PhD in economics from Oxford, writing a thesis and book entitled “India’s Export Trends and Prospects for Sustained Growth”. It challenged India’s then pervasive export pessimism that was to blight its development for a further three decades. Singh subsequently worked for several years at the United Nations Conference on Trade and Development. In 1969, he returned to India to teach economics. Then in 1971, Singh took up a post as economic adviser in the commerce ministry, the start of a long career in government service in which he held many top posts, including governor of the Reserve Bank of India. But his fundamental role in transforming India came in 1991, as it was facing a severe foreign exchange crisis, which had forced the country to fly some of its gold reserves abroad as security for an IMF rescue loan. Singh seized the opportunity to break with the antitrade world view that had dominated India post-independence, and begin the process of opening up the country’s tightly controlled, socialist-oriented economy to greater private and foreign investment, bringing an end to an era of chronically low growth. His steps, alongside prime minister PV Narasimha Rao, to dismantle the so-called “Licence Raj” of strict economic controls during his five-year tenure as finance minister laid the foundation for a rapid acceleration of India’s economic growth, hitting highs of nearly 9 per cent, up from an average of around 2 to 3 per cent. In his first term as prime minister from 2004, Singh created debt relief and job creation schemes for farmers, and sought to establish social welfare programmes to assist those yet to benefit from India’s accelerated growth. He also tried to bring more transparency to government by implementing a freedom of information law, similar to those in the west. But the most significant achievement was his transformation of New Delhi’s relationship with Washington, which had imposed sanctions on India for its nuclear tests a decade earlier. In 2008, he staked his political future on a quest to obtain parliamentary approval for a major civil nuclear agreement with the US, in spite of opposition from leftist former coalition partners and the Hindu nationalist Bharatiya Janata party. The successful parliamentary vote buried the legacy of cold war animosity between the two countries despite India’s refusal to relinquish its nuclear weapons programme, while sealing Singh’s unlikely friendship with the then-US president George W Bush. Later that year, after Pakistan-based militants launched a seaborne terror strike on Mumbai, killing 170 people, Singh showed considerable restraint by resisting calls for harsh retaliation, thus averting a potential regional conflagration. With the benefit of hindsight, many of Singh’s advisers said he should have handed the premiership over to a younger leader after the election victory of 2009. His second term was one of bitter disappointment and paralysis, marred by corruption scandals, unruly allies and an economy retreating from double-digit economic growth amid stubbornly high inflation. However, during this time, he did empower Nandan Nilekani , cofounder of tech giant Infosys, to lead a team that built an advanced biometric identification system known as Aadhaar , which gradually led to vast improvements in the delivery of welfare payments for millions of poorer Indians. Still, public disillusionment with Singh’s seeming inaction as economic and political conditions deteriorated paved the way for the 2014 election of the BJP leader Narendra Modi, who promised muscular leadership, faster job creation and accelerated growth. Singh kept a low profile after retirement, though he did make occasional public criticisms of his successor’s performance. In 2019 he accused Modi of creating a “toxic” environment and “ climate of fear ” that had led to a sharp economic slowdown by undermining business confidence. During his final months as premier, back in 2014, Singh predicted that “history will be kinder to me than the contemporary media, or for that matter opposition parties”. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
CHICAGO (AP) — Cairo Santos had a field goal blocked — again. DeAndre Carter muffed a punt in the second half. And those were just the special teams mistakes for the struggling Chicago Bears. Santos' blocked field goal and Carter's turnover were part of another sloppy performance for Chicago in its fifth consecutive loss. The pair of miscues helped set up two of Minnesota's three touchdowns in a 30-27 overtime victory . The Bears (4-7) closed out a miserable three-game homestand after they won their first three games of the season at Soldier Field. They were in position to beat Green Bay last weekend before Santos' 46-yard field goal attempt was blocked on the final play of the Packers' 20-19 win . “It’s tough. ... When things just aren’t going your way, you gotta put your head down and just keep going to work,” tight end Cole Kmet said. “It’s not easy to do but that’s kind of where we’re at.” Chicago and Minnesota were tied at 7 when Caleb Williams threw incomplete on third-and-4 at the Vikings 30 early in the second quarter. Bears coach Matt Eberflus sent Santos out for a 48-yard attempt, but it was knocked down by defensive lineman Jerry Tillery. “I think it was the penetration with the trajectory of the ball,” Santos said. “Had the ball started 3 or 4 inches to the right of both those guys' hands, I think it still goes in through the uprights.” Brian Asamoah returned the blocked kick 22 yards to set the Vikings up with good field position. Sam Darnold then capped a six-play, 53-yard drive with a 5-yard TD pass to Jalen Nailor for a 14-7 lead with 6:29 left in the first half. It was the third blocked field goal for Santos this year, the most for Chicago in a single season since it also had three blocked in 2012. Santos also had a 43-yard try blocked in the fourth quarter of a 35-16 victory over Jacksonville on Oct. 13. The Bears became the first NFL team to allow three blocked field goals in a season since the Browns and Ravens each had three blocked in 2022. “Whenever that happens two games in a row we’ve got to make sure we take a hard look in terms of the protection, the technique and who we have in there,” Eberflus said. “So it's going to be a big thing to look at.” Chicago trailed 17-10 when it forced a Minnesota punt midway through the third quarter. Carter warned his teammates to get out of the way, but it hit the ground and bounced off the inside of his right leg before it was recovered by Bo Richter at the Bears 15. The Vikings turned the mental error into Aaron Jones' 2-yard touchdown run and a 24-10 lead. “Gotta get out of the way of the ball. That’s on me,” Carter said. “I let the team down today. Game shouldn’t have been in the situation it was in. I felt bad for the guys.” Santos and Carter both played a role in a late rally for Chicago. Carter had a 55-yard kickoff return, and Santos got an onside kick to work before making a tying 48-yarder on the final play of regulation. But the Bears stalled on the first possession of overtime, and Darnold drove the Vikings downfield to set up Parker Romo's winning 29-yard field goal. “We're losing in the most unreal situations,” Bears receiver DJ Moore said. “Now it's like the luck's got to go in our favor at some point.” AP NFL: https://apnews.com/hub/NFLSuriname rules out state funeral for ex-dictator Bouterse