The introduction of the "lifesaving straw" has triggered a subtle shift in market sentiment. While some view it as a game-changer that could lead to a new era of corn production, others remain cautious and skeptical about its long-term implications. The potential impact of this technology on corn prices, market dynamics, and trade patterns has sparked debate among analysts and investors, leading to a sense of uncertainty and anticipation in the agricultural sector.Tax cuts aimed at relieving the burden on businesses and individuals have boosted consumption and investment, driving up economic activity. At the same time, monetary easing measures, such as interest rate cuts and liquidity injections, have supported liquidity in the financial system, ensuring the smooth operation of credit flows and reducing financing costs for enterprises.Throughout the summit, Macron's efforts to steer the conversation towards productive discussions were repeatedly derailed by Trump's off-the-cuff remarks and impulsive behavior. The French president, known for his diplomatic finesse and ability to navigate complex international relations, found himself on unsteady ground as he tried to recalibrate the tone of the meeting and salvage what he could from the increasingly tense situation.
NoneShoppers bemused as Easter eggs hit shop shelves before New Year’s Eve
On the other hand, the decrease in housing prices comes as a relief for many prospective homebuyers and renters. This decline may be a result of various factors, including government policies aimed at stabilizing the property market, changing preferences among urban residents, and fluctuations in property development and investment trends.Analysis: Getting benched may have been best thing that happened to Bryce Young, Anthony Richardson
EAST RUTHERFORD, N.J. (AP) — With tears occasionally welling in his eyes, Daniel Jones disagreed on Thursday with the New York Giants' decision to bench him earlier this week and perhaps end his five-plus tenure as the team's quarterback. Read this article for free: Already have an account? To continue reading, please subscribe: * EAST RUTHERFORD, N.J. (AP) — With tears occasionally welling in his eyes, Daniel Jones disagreed on Thursday with the New York Giants' decision to bench him earlier this week and perhaps end his five-plus tenure as the team's quarterback. Read unlimited articles for free today: Already have an account? EAST RUTHERFORD, N.J. (AP) — With tears occasionally welling in his eyes, Daniel Jones disagreed on Thursday with the New York Giants’ decision to bench him earlier this week and perhaps end his five-plus tenure as the team’s quarterback. The 27-year-old Jones said he gave the team everything he had after being taken sixth overall in the 2019 draft and he believes he still has a future in the NFL. He held himself accountable for the Giants making the playoffs once in his tenure as the starter. The Duke product took over early in his rookie season when then-coach Pat Shurmur benched two-time Super Bowl MVP Eli Manning, who was near the end of his career. Coach Brian Daboll benched Jones on Monday after the Giants (2-8) returned to practice following a bye week and 20-17 overtime loss to Carolina in Germany. Tommy DeVito will start Sunday against the Tampa Bay Buccaneers, with Daboll hoping he can spark the team. “Definitely not happy about it,” said Jones, who read a 90-second statement before taking questions from reporters. “Yeah, not what you want to hear. So, yeah, all those emotions you have. But at the end of the day, this is football. We’re in a business where your expected to get results and we weren’t doing it.” Wearing his no-contact red jersey with a faded No. 8, Jones indicated the Giants offered him the opportunity to walk away from the team with seven games left in the season. He said he is considering it, but he also wanted to stay and help DeVito get ready this week. It is unlikely the Giants are going to let him play again. He has two years left on a four-year, $160 million contract. Next season includes a $23 million guarantee that will kick in if he is hurt and is not ready to start the 2025 season. Since being benched, Jones is barely getting any snaps, with most of them being taken by DeVito and backup Drew Lock. “I got the injury guarantee,” Jones said of his lack of work. Asked if he would have waived the guarantee, Jones said general manager Joe Schoen and his agent, Brian Murphy, discussed the issue but that was it. Jones spoke for almost 11 minutes. He got emotional when told receiver Darius Slayton and defensive tackle Dexter Lawrence both referred to him as still the best quarterback on the team. All three were drafted in 2019. Jones called the Giants a first-class organization, cherished the relationships he has and thanked his teammates, coaches and staff. 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. “There have been some great times. But of course, we all wish there had been more of those,” Jones said. “I take full responsibility for my part in not bringing more wins. No one wanted to win more games worse than me. I gave everything I had on the field and in my preparation.” Jones called the 2024 season disappointing and took responsibility. “The idea to change something happens, and I understand. I love the game,” Jones said. “I love being part of a team. I’m excited for the next opportunity. I know that there’s a lot of good football in front of me.” ___ AP NFL: https://apnews.com/hub/nfl Advertisement Advertisement
Musk says US is demanding he pay penalty over disclosures of his Twitter stock purchases DETROIT (AP) — Elon Musk says the Securities and Exchange Commission wants him to pay a penalty or face charges involving what he disclosed — or failed to disclose — about his purchases of Twitter stock before he bought the social media platform in 2022. In a letter, Musk’s lawyer Alex Spiro tells the outgoing SEC chairman, Gary Gensler, that the commission’s demand for a monetary payment is a “misguided scheme” that won’t intimidate Musk. The letter also alleges that the commission reopened an investigation this week into Neuralink, Musk’s computer-to-human brain interface company. The SEC has not released the letter. Nor would it comment on it or confirm whether it has issued such a demand to Musk. Senate begins final push to expand Social Security benefits for millions of people WASHINGTON (AP) — The Senate is pushing toward a vote on legislation that would provide full Social Security benefits to millions of people. Senate Majority Leader Chuck Schumer began the process on Thursday for a final vote on the bill, known as the Social Security Fairness Act. It would eliminate policies that currently limit Social Security payouts for roughly 2.8 million people. The legislation has passed the House. The bill would add more strain on the Social Security Trust funds, which are already estimated to be unable to pay out full benefits beginning in 2035. The measure would add an estimated $195 billion to federal deficits over 10 years, according to the Congressional Budget Office. Trump offers support for dockworkers union by saying ports shouldn't install more automated systems WASHINGTON (AP) — President-elect Donald Trump is offering his support for the dockworkers union before their contract expires next month at Eastern and Gulf Coast ports. He posted on social media Thursday that he met with union leaders and that any further “automation” of the ports would harm workers. He wrote that the “amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers.” The International Longshoremen’s Association has until Jan. 15 to negotiate a new contract with the U.S. Maritime Alliance, which represents ports and shipping companies. The Maritime Alliance says the technology will improve worker safety and strengthen our supply chains, among other things. IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes. The announcement comes under the backdrop of a promised reckoning from Republicans who will hold a majority over both chambers of the next Congress and have long called for rescinding the tens of billions of dollars in funding provided to the agency by Democrats. IRS Commissioner Danny Werfel said improvements made to the agency will help the incoming administration and new Republican majority congress achieve its goals of administering an extension of the 2017 Tax Cuts and Jobs Act. OpenAI's legal battle with Elon Musk reveals internal turmoil over avoiding AI 'dictatorship' A 7-year-old dispute between tech leaders Elon Musk and Sam Altman over who should run OpenAI and best avoid an artificial intelligence ‘dictatorship’ is now heading to a federal judge as Musk seeks to halt the ChatGPT maker’s ongoing conversion into a for-profit company. Musk, an early OpenAI investor and board member, sued the artificial intelligence company earlier this year. Musk has since escalated the dispute, adding new claims and asking for a court order that would stop OpenAI’s plans to convert itself into a for-profit business more fully. OpenAI is filing its response Friday. OpenAI's Altman will donate $1 million to Trump's inaugural fund LOS ANGELES (AP) — OpenAI CEO Sam Altman is planning to make a $1 million personal donation to President-Elect Donald Trump’s inauguration fund, joining a number of tech companies and executives who are working to improve their relationships the incoming administration. A spokesperson for OpenAI confirmed the move on Friday. The announcement comes one day after Meta, the parent company of Facebook and Instagram, said it donated $1 million to the same fund. Amazon also said it plans to donate $1 million. China signals it's prepared to double down on support for the economy as Trump tariffs loom BANGKOK (AP) — Chinese leaders met this week to plot economic policy for the coming year and sketched out plans to raise government spending and relax Beijing's monetary policy. Analysts said the broad-brush plans from the annual Central Economic Work Conference were more of a recap of current policy than ambitious new initiatives at a time when the outlook is clouded by the President-elect Donald Trump's threats to sharply raise tariffs once he takes office. The ruling Communist Party did commit to raising China's deficit and to doing more to encourage consumer spending by bringing wage increases in line with the pace of economic growth. Here's a look at China's main priorities and their potential implications. Stock market today: Wall Street slips at the end of a bumpy week Stocks slipped as Wall Street closes out a rare bumpy week. The S&P 500 was up less than 0.1% in afternoon trading Friday and headed for a weekly loss. The benchmark index hit its latest in a string of records a week ago. The Dow Jones Industrial Average fell 58 points. The Nasdaq composite was up 0.1%. Broadcom surged after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. Treasury yields edged higher in the bond market. European markets were mostly lower and Asian markets mostly fell. Next Week: Retail sales, Fed policy update, existing home sales The Commerce Department releases its monthly snapshot of U.S. retail sales Tuesday. Federal Reserve officials wrap up a two-day meeting and issue an interest rate policy update Wednesday. The National Association of Realtors issues its latest update on U.S. home sales Thursday. African Union chairperson candidates advocate for permanent UN Security Council seats NAIROBI, Kenya (AP) — Three African leaders seeking to head the African Union have detailed their plans for regional security amid conflicts and political coups while strongly advocating for inter-Africa trade. The race for chairperson debate was held Friday in Ethiopian capital Addis Ababa. Kenya’s Raila Odinga, Djibouti’s Mahamoud Ali Youssouf and Madagascar’s Richard Randriamandrato are seeking to be elected as chairperson for the 55-member state African Union. They had a two-hour debate Friday in which they all advocated for two permanent seats for African countries at the U.N. Security Council to effectively represent the continent with the youngest population. The three are seeking to convince most African countries before the February election to succeed the African Union Chairperson Moussa Faki.
High commissions and charges, like investment fees, are maddening, whether hidden or out in the open. These pesky charges also come with a financial cost. Anyone who’s ever bought a concert ticket or made a plane reservation knows that firsthand. But what retirement savers often overlook is how investment fees can add up over time and eat into their investment performance, shrink their account balance, and even delay retirement. In fact, higher investment management fees could potentially set your retirement back by four years, according to the 2022 Mercer Retirement Readiness Barometer . Mercer’s analysis found that an individual investor paying the median level of fees (in this case, 1.9%) would not be retirement-ready until age 70, well above the traditional retirement age of 65. In today’s world, we all need every dime of our 401(k) or IRA account balance. So, paying attention to investment fees or commissions charged by mutual funds, wealth advisors who provide financial advice, or brokerages is crucial. It's as essential as getting your asset allocation right and building a diversified portfolio to grow your money over time without taking outsized risks. “You can’t control the markets or where interest rates are heading, but for the most part, you can control the costs that you pay (for your investments and portfolio),” said James Martielli , head of investment & trading services at Vanguard. This fund firm has long espoused the benefits of low-cost investing. Minimizing costs is one of Vanguard’s four principles for investing success , which also includes setting clear investment goals, keeping a balanced and diversified mix of investments, and maintaining discipline (e.g., staying the course) over the long haul. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of expert advice - straight to your e-mail. Types of investment fees Of course, it’s impossible to avoid investment fees. There’s no free lunch. Here are the costs you are most likely to encounter. Don't be afraid or embarrassed to speak up if you don't understand a fee or know how you are charged. Expense ratios . No doubt, expect to get nicked by fund “expense ratios.” These fees compensate stock pickers who are trying to identify the next Nvidia . They also pay for the investment pros managing index mutual funds or exchange-traded funds (ETF) that replicate a passive index, which mimics a broad market gauge like the S&P 500. You can find the expense ratio by searching the internet on the ticker or fund name, which should retrieve a fund overview. Loads or sales commissions . If you don’t opt for no-load mutual funds , which don’t charge a sales commission, expect to pay a sales charge used to remunerate brokers or financial advisors for their fund-picking services. I recommend you read Understanding Mutual Fund Share Classes for more on these fees. Advisory fees . If you use a financial adviser , you’ll also pay an advisory fee. These may be based on your assets under management, such as 1% of all the assets they manage for you. Or you may find advisers who charge a flat fee. Workplace retirement plan fees . Your 401(k) , 403(b) or 457 plan might also have a quarterly or annual maintenance fee and administration fees deducted from your account balance. Be sure to ask your plan administrator or HR department for help if you can't find or don't understand these fees. Transaction fees . For example, if you’re trading in your IRA, there could be transaction costs or commissions to buy and sell stocks and, in some cases, mutual funds. Online brokerages like Fidelity may have lower or no transaction fees on ETFs . Fees compound too The more fees you pay, the less your money is put to work in investments. Remember, what you keep is your account balance after investment costs are deducted. “These fees may seem small, but over time they can have a major impact on your investment portfolio,” an investor bulletin from the Securities and Exchange Commission’s Office of Investor Education and Advocacy warned. “Fees can really be a drag on performance, and a lot of time, investors may not even realize there are fees associated with the individual investment choices they’ve made,” Matt Bullard , regional VP for managed solutions at Fidelity Investments, noted in a blog post , “Are fees holding your portfolio back?” Just as your 401(k) contributions and gains compound over time, so do fees and trading costs. The result: costs add up over your lifetime. “The longer the time horizon, the more pernicious the effect,” said Martielli. How much do fees harm my retirement investments? OK, so how big a drag can expenses have on your retirement bottom-line? It turns out that even small costs can add up to large drags on your account balance over time, a simple investment simulation from Vanguard shows. Let’s say you have a starting balance of $100,000 (no additional contributions are made), earn 6% on your money each year and reinvest your gains. Here’s a quick look at how your starting account balance of $100,000 would grow over 30 years given different investment costs, from Vanguard's Principles for Investing Success . The takeaway: Higher costs can significantly depress a portfolio’s growth. At the end of those three decades, owning the lowest-cost portfolio would result in an account balance that is $240,302 higher than the highest-cost portfolio. And there’s even a $91,484 difference between the lowest-cost portfolio (0.10%) and the second-lowest-cost portfolio (0.70%). Lower costs can also support higher returns, the Vanguard study shows. The fund company looked at equity mutual fund returns over a 10-year period from 2012 to 2022, taking expense ratios into account. As shown in the chart below, the funds with the lowest fees (or ones in the lowest-cost quartile with average expense ratios of 0.57%) posted average annualized returns of 8.7%. Contrast that with the 5.7% annual return for funds in the highest-cost quartile (expense ratio of 2.47%). The conclusion from Vanguard based on this analysis is that lower-cost mutual funds (both active and passive) have historically outperformed higher-cost mutual funds after costs. Investment fees are declining There is good news on the investment fee front, however. Fees have fallen in recent decades. The average expense ratio for equities (stock) mutual funds declined for the 14 th straight year in 2023, according to the Investment Company Institute , an association representing the mutual fund industry. From 1996 to 2023, the average equity mutual fund’s expense ratio has dropped by 60%. Drilling down further, the average expense ratio at the end of 2023 for stock mutual funds fell two basis points to 0.42%, and the average expense ratio for bond mutual funds held steady at 0.37%, according to ICI data . Less-expensive investment options are also seeing fees decline . The costs for exchange-traded funds (ETFs) that track broad stock indexes like the S&P 500 and trade infrequently, for example, declined one basis point to 0.15%. The average expense ratio for index bond ETFs remained unchanged at 0.11%. The fee compression includes both actively managed funds (or ones run by professional stock pickers whose goal is to top market benchmarks) as well as index funds that mimic or match the returns of the index they track. The average expense ratio of actively managed funds declined from 1.08% in 1996 to 0.65% in 2023. However, index funds are still the lower-fee option. ICI data show that Index fund expense ratios dipped from 0.27% in 1996 to 0.05% in 2023. The fix? Invest in low-cost index funds or ETFs, or actively managed funds with consistent performance that charge lower fees than their competitors. Let’s look at another example of how lower fees, all things being equal, will net you a larger nest egg. Let’s say you invested $10,000 in a fund that produced a 10% return before expenses and had annual operating expenses of 1.5%. After 20 years, you would have $49,725, according to a Fidelity analysis . In contrast, if you had invested in a fund with expenses of only 0.50%, "then you would have ended up with $60,858 – an 18% difference.” Should I buy the cheapest ETF or mutual fund? It's important to point out that just because an actively managed fund has a higher expense ratio than an index fund doesn’t mean it can’t deliver better after-fee returns. Index funds can only match an index’s return, while a fund run by a stock picker might deliver market-beating returns that offset any drag from costs. “Fees are only an issue in the absence of value,” says Fidelity’s Bullard. “If you believe in active management — that there are people out there who are skilled and smart and have access to research that may help enable them to beat the indexes — you may be willing to pay a little more for that. Some funds may be worth paying an above-average cost for.” And when comparing actively managed funds, the one charging a lower fee isn’t necessarily better than the one charging a higher expense ratio. “Just because a mutual fund has low fees doesn’t mean it’s a good fund,” according to the Ramsey Solutions blog post, Everything You Need To Know About Investment Fees . Yes, fees matter “Look for a fund that has a reasonable expense ratio with a long-term track record of excellent returns and good management in place. That’s a winning combination,” advises Ramsey Solutions. The bottom line, even for actively managed funds, is that fees matter. “The higher the cost hurdle, the more difficult it is to outperform,” says Vanguard’s Martielli. Read More You Could Be a 401(k) Millionaire. Here's How Average IRA Balance by Age Average 401(k) Balance by Age Retirement Calculator: How Much Do I Need to Retire?DrBalcony App Redefines Balcony Inspections with Unparalleled Efficiency
The plummeting oil prices have sent shockwaves through the global economy as the cost of 92-octane gasoline continues to nosedive. Drivers and economists alike are closely monitoring the fluctuations in fuel prices, with the latest adjustments signaling a significant and sustained decrease.