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WASHINGTON — Treasury Secretary Janet Yellen said her agency will need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling , as early as January 14, in a letter sent to congressional leaders Friday afternoon. "Treasury expects to hit the statutory debt ceiling between January 14 and January 23," she wrote in a letter addressed to House and Senate leadership, at which point extraordinary measures would be used to prevent the government from breaching the nation's debt ceiling — which was suspended until Jan. 1, 2025. The department in the past deployed what are known as “extraordinary measures” or accounting maneuvers to keep the government operating. Once those measures run out, the government risks defaulting on its debt unless lawmakers and the president agree to lift the limit on the U.S. government’s ability to borrow. "I respectfully urge Congress to act to protect the full faith and credit of the United States," Yellen said. FILE - U.S. Treasury Secretary Janet Yellen speaks during a visit to the Financial Crimes Enforcement Network (FinCEN) in Vienna, Va., on Jan. 8, 2024. (AP Photo/Susan Walsh, File) The news came after Democratic President Joe Biden signed a bill into law last week that averted a government shutdown but did not include Republican President-elect Donald Trump’s core debt demand to raise or suspend the nation’s debt limit. Congress approved the bill only after a fierce internal debate among Republicans over how to handle Trump's demand. “Anything else is a betrayal of our country,” Trump said in a statement. After a protracted debate in the summer of 2023 over how to fund the government, policymakers crafted the Fiscal Responsibility Act, which included suspending the nation's $31.4 trillion borrowing authority until Jan. 1, 2025. Notably however, Yellen said, on Jan. 2 the debt is projected to temporarily decrease due to a scheduled redemption of nonmarketable securities held by a federal trust fund associated with Medicare payments. As a result, “Treasury does not expect that it will be necessary to start taking extraordinary measures on January 2 to prevent the United States from defaulting on its obligations," she said. The federal debt stands at about $36 trillion — after ballooning across both Republican and Democratic administrations. The spike in inflation after the COVID-19 pandemic pushed up government borrowing costs such that debt service next year will exceed spending on national security. Republicans, who will have full control of the White House, House and Senate in the new year, have big plans to extend Trump's 2017 tax cuts and other priorities but are debating over how to pay for them. Many consumers may remember receiving their first credit card, either years ago in a plain envelope, or months ago from a smartphone app. Still other consumers may remember their newest card, maybe because it's the credit card they're now using exclusively to maximize cash back rewards or airline miles. But for most consumers, there's also a murky in-between where they add, drop and generally accumulate credit cards over time. Over the years, consumers may close some credit card accounts or leave some of their credit cards dormant as a backup form of payment, or perhaps left forgotten in a desk drawer. In the data below, Experian reveals the changes in consumers wallets in recent years. U.S. consumers, on average, carry fewer cards today than they did in 2017, when the typical wallet held 4.2 active credit cards. As of the third quarter (Q3) of 2023, consumers carried 3.9 cards on average. This average is up slightly since the early days of the pandemic, when consumers reduced their average credit card debt and number of accounts as the economy slowed. As Experian revealed earlier this year, credit card balances are still climbing, despite (and partially because of) higher interest rates. And while average balances are increasing, they are spread across fewer accounts than in recent years. Alternative financing—including buy now, pay later plans for purchases—may account for at least some of this discrepancy, as consumers gravitate toward these newer financing methods. In general, residents of higher-population states tend to carry more credit cards than those who live in states with fewer and smaller population centers. Nonetheless, the difference between the states is relatively small. Considering that the national average is around four credit cards per consumer, the four states with the fewest cards per consumer (Alaska, South Dakota, Vermont and Wyoming) aren't appreciably different, with "only" about 3.3 credit cards per consumer. Similarly, the four states on the higher end of the scale where consumers have 4.2 or more credit cards are Connecticut, Delaware, Florida, New Jersey and Rhode Island. The disparity in average credit card counts is more apparent when the population is segmented by age, thanks in part to Generation Z, many of whom have yet to receive their first credit card. The average number of credit cards for these consumers was two, less than half of what older generations keep on hand. The average number of credit cards held by each generation follows the familiar pattern seen in credit card balances, which tend to increase in a consumer's middle age. It's not surprising that the number of credit card accounts follows a similar climb throughout young adulthood and middle age, then drops off in the retirement years. No matter how many credit cards you may have at the moment, keep in mind that the number of accounts has little if any bearing on one's FICO Score. Far more important is how consumers manage those accounts. This is easily demonstrable by quickly stepping through some of the factors that affect your credit scores . Longer credit histories do tend to have a positive effect on a consumer's credit score, but it's not something you can rush. Adhering to on-time payments and managing amounts owed will go far in improving credit scores, even absent a lengthy credit history. While accounts closed in good standing remain on your credit report for 10 years, canceling your oldest credit card account still has the potential to shorten your credit history when it is eventually removed. The impact of its removal depends on any other active credit cards in your credit file. Ultimately, the number of cards a particular individual carries is a personal decision. Justifications can be found for carrying a travel rewards card, a cash back card, a balance transfer card, a card for business transactions and other types of credit cards that other consumers may not have either the need or qualifications for. However, keeping track of numerous credit cards, whether or not a consumer is actively using all of them, can be a mentally taxing exercise. Not only that, credit card fees can add up and dull the benefit of carrying several credit cards. Organized consumers can benefit greatly from a wallet full of specialized cards, but for those seeking a more zen-like financial future, some judicial pruning may be in order. Methodology: The analysis results provided are based on an Experian-created statistically relevant aggregate sampling of our consumer credit database that may include use of the FICO Score 8 version. Different sampling parameters may generate different findings compared with other similar analysis. Analyzed credit data did not contain personal identification information. Metro areas group counties and cities into specific geographic areas for population censuses and compilations of related statistical data. This story was produced by Experian and reviewed and distributed by Stacker Media. Get Government & Politics updates in your inbox! Stay up-to-date on the latest in local and national government and political topics with our newsletter.Almost one year into her reign, it looks like Australian-born Queen Mary of Denmark may be ascending to a prestigious new role: podcast host. The Danish queen announced this week that her charity, the Mary Foundation, is launching a podcast called Lonely Youth. The three-part series inspired by Denmark’s high rates of youth loneliness promises to “give an in-depth insight into the nuances of loneliness by mixing [expert analysis] and personal narratives from young people”. Though we don’t yet know if she will feature in each episode, Queen Mary announced the news via Instagram, pointing out that a recent study found 73 per cent of Danes, aged 16-19, experience loneliness and 17 per cent of those, between 16-24, feel “very lonely”. “These are heavy numbers that we need to do something about,” the post read. At first glance, it might seem strange that a 52-year-old monarch would be the go-to person to reach disconnected youth – and stranger still that they would do so via a medium often associated with influencers, true-crime detectives and young men in basements. But, this is actually the latest in a long line of royal podcasting projects (and no, it didn’t start with Meghan Markle). The rise of royal podcasting Dr Lisa Beckett, a lecturer at the University of New England researching royalty and popular culture, says it was only a matter of time before royal family members entered the podcast market. “Royals tend to be later than everybody else entering these spaces,” she says, “but [engaging in new mediums] is one of the ways they stay relevant.” And, as a kind of celebrity (“they have been since the time of the Georgians”, she notes), this kind of direct contact with audiences is expected of them. “Queen Elizabeth could get away with quite a bit of distance because she started her reign so long ago, but the younger royals are expected to act more modern and to be in this space ... That distance between celebrities and fans has been shrinking, particularly with social media.” India Hicks, goddaughter of King Charles, was the first notable name to get in on the action. The India Hicks Podcast , which debuted in 2019, offered a “wonderfully intimate look” into her life and her “extraordinary family”. It consisted of conversations about “movie stars, matadors and maharajas” with her mother, Lady Pamela Hicks, the late Queen Elizabeth’s former lady-in-waiting. A couple of years later, Princess Eugenie co-hosted Floodlight : an interview podcast about modern slavery made with her charity, the Anti-Slavery Collective. Then came Meghan Markle’s Archetypes. In this much-hyped 2022 series, the Duchess of Sussex spoke to some of the biggest names in popular culture (including Mariah Carey, Paris Hilton and Serena Williams) about the “labels that try to hold women back”. The following year Sarah “Fergie” Ferguson, the Duchess of York, debuted a chat podcast with her friend Sarah Thomson, and Queen Camilla launched The Queen’s Reading Room podcast. The latter, an extension of her literacy charity of the same name, features interviews with authors and prominent book-lovers such as Dame Joanna Lumley and Richard E. Grant. But Camilla is only featured for a couple of minutes per episode. Though podcasts are an intimate medium, as Dr Beckett points out, they also enable royals to maintain a great deal of control – certainly more so than in a traditional TV interview. “They have to be careful because they’ve tried different tactics like this,” Beckett says. “In 1969, Queen Elizabeth actually allowed for a documentary of her home life. It was broadcast on the BBC once, then she realised it was a mistake. It let people in too much into her personal life, and she actually banned it from being ever played again.” (Decades later, it leaked on YouTube .) In 1987, younger members of the British royal family also competed in the TV game show It’s a Royal Knockout alongside celebrities, running around in costumes doing obstacle courses for charity. “People thought it was a disaster,” Beckett says. “Royals are not like other celebrities, they have to act a certain way and maintain certain standards ... but at the same time be ‘normal enough’ that we [relate to] them.” Moral influencers or ‘f---ing grifters’? So, do people actually care about this exclusive royal content or are they content just watching The Crown ? The most successful of the bunch is undoubtedly Meghan Markle’s Archetypes. The show debuted in the top spot on Spotify in Britain, the US, Canada, Ireland, India, Australia and New Zealand. But it also lost a lot of steam by the end of the season, and Meghan and Harry’s Archewell Audio “mutually agreed” to leave Spotify soon after. Meghan Markle made one season of Archetypes , in collaboration with Spotify. Credit: Their initial deal reportedly cost $US25 million ($38.5 million), and The Wall Street Journal reported the couple had failed to meet “productivity benchmarks” to justify the sum. Though their 2020 agreement promised “a multi-year partnership ... to produce podcasts and shows” (multiple), nothing else materialised. Bloomberg reported that Harry had pitched a number of ideas, including a show in which he interviewed “controversial guests such as Vladimir Putin, Mark Zuckerberg and Donald Trump about their early formative years”. Celebrating their exit from the company, Spotify executive Bill Simmons went so far to call the pair “f---ing grifters” on his own podcast. He had also previously criticised Prince Harry, saying: “Why are we listening to you? Nobody cares what you have to say about anything unless you talk about the royal family, and you just complain about them.” Dr Beckett believes it is a good thing, however, when royals publicly lend themselves to causes. Whether it’s Princess Eugenie with modern slavery or Queen Mary with youth loneliness – or, historically, Princess Diana with AIDS – “royalty adds cachet”. “When they get involved, it really gives the charity or the cause a lot of support and a lot of attention,” she says. At the very least, she adds, “It gets the attention of the media.” Find out the next TV, streaming series and movies to add to your must-sees. Get The Watchlist delivered every Thursday .
For years, I've watched two young boys hang out at a family-owned tea stall near my home. Their conversations evolved from debates about football and bikes to heavier topics like shoshon (exploitation) versus shashon (rule) during the curfew of July, questioning which path Hasina was following. This shift is a testament to how recent political upheavals have sparked a broader consciousness. Although recent political shifts have sparked broader conversations, this deep-seated political apathy didn't appear overnight. A decade of Hasina's dysfunctional governance has stifled free speech, undermining citizens' self-respect and identity. Even agencies like RAJUK, our capital development authority, have followed suit, treating citizens as afterthoughts in decisions about Dhaka's future. The result? A city that feels chaotic and unrecognisable, alienating people from both their surroundings and formal institutions. Yes, planning a city as complex as Dhaka is daunting. Yet RAJUK's failures go beyond typical challenges like managing the past sins of previous planning initiatives. In fact, citizens view RAJUK as a "government arm for realtors" due to policies that often ignore public interest and favour commercial interests, particularly in housing and public space developments. For instance, projects like the Detailed Area Plan (DAP, 2022-35) and the Strategic Plan (SP, 2016-35) sometimes reclassify flood-prone areas as "residential zones" or "agricultural homestead" to benefit developers, favouring elites at the public's expense. This governance model, entrenched in profit motives, has left Dhaka's residents with little influence over their environment. And Dhaka is not a blank canvas. DAP's block housing proposals, lacking clarity on their impact on existing areas, feel dismissive to residents. As Dhaka's urban neglect deepens, citizens' rights—from voting to self-respect—gradually erode. Historically resilient, the population now seems resigned to autocratic rule. As the capital, Dhaka sets the national tone, and its culture of detachment risks spreading nationwide. According to evolutionary psychology, communities that evolved around shared natural resources tend to foster cooperative behaviour, while those rooted in hunting or survival develop a more competitive nature. This cooperative spirit has deep roots in Dhaka's indigenous moholla culture along the Buriganga River. Each moholla unfolds like a honeycomb, its spatial elements woven together to encourage different levels of engagement. It begins with the uthan—a private courtyard where families gather. This opens into the goli, a semi-private, visually connected lane that everyone from housewives to schoolchildren and office-goers passes through, sparking spontaneous exchanges and small conversations that sustain daily life. The goli leads to the morh, a gathering place with magnets like tea stalls, sweet shops, schools, or religious centres, each changing character throughout the day. Finally, the chowk, a public square, serves as the heart of commercial and social activity, a place where the moholla connects with the broader public domain. This seamless flow of spaces—from private to public, uthan to chowk—created a dynamic community that held people together in daily rhythms of cooperation and shared identity. Even today, amid Dhaka's sprawling urban landscape, we see glimpses of this culture in small gatherings, like two boys who meet by a familiar tea stall in a cozy goli. Yet such intimate spaces are rapidly disappearing, leaving isolated developments and impersonal streets that lack the communal warmth of Dhaka's original neighbourhoods. In contrast to its indigenous core, later-developed Dhaka reflects only economic status, a product of a colonised, profit-driven urban landscape. Yet, aspects of the moholla culture could still be revived by transforming "dead-end" streets, or mora-goli, and utilising abandoned spaces between buildings by adding vibrant, crowd-pulling features such as food carts, vegetable vendors, seating areas, or even play spaces. Eliminating surface parking in areas where it's feasible could also open semi-private ground spaces for co-designed community activities. While already-developed areas like Mohammadpur, Mirpur, and Dhanmondi may not accommodate block-style developments, upcoming housing projects should clarify how the calculation of floor area ratios (FAR) will work, to enable courtyard-style or block developments. Defining clear boundaries between intimate neighbourhood spaces, semi-public areas, and larger community zones is essential to restoring Dhaka's rich cultural way of living. In a conference last year, a senior planner dismissed ideas like "guided traditional shophouses," "pedestrian-friendly streets," and "policies for street vendor management" as naive dreams for ever-changing Dhaka. Yet citizens like myself feel left out of the process entirely. Policy documents don't mention civil society or citizen groups as policy instruments, ignoring their role in creating community networks. In a city of over 20 million, it may seem impractical to reach every resident. However, rather than pursuing a "gradual continuum of change," planners should seek incremental change by "advocating the common good." This approach could lay the groundwork for "participatory planning," a key component of the ongoing discourse on distributive democracy. Critics argue that participatory planning can lead to individual interests overshadowing common goals. But in a city whose people feel ignored for years, there are still those who marched for liberation, who protect their neighbourhoods from robbers, and who want to belong. Each year, Dhaka's liveability ranking declines, putting it alongside war-torn cities—a sad reflection of the psychological toll this city has taken on its residents. For years, we've lived under an invisible siege, where our sense of self and place has been diminished by unchecked planning. August 5 marked a turning point, a day that reminded us of our right to hold leaders accountable and to demand a city that respects its people, supports communal bonds, and nurtures civic participation. With new political shifts on the horizon, we have a chance to reclaim Dhaka—not as a fractured, profit-driven metropolis, but as a city that honours its heritage, resilience, and future aspirations. In the face of enormous challenges, such as traffic, waste management, and urban flooding, the core issue remains Dhaka's disconnection from its people. Rebuilding this city will require collaboration across government bodies, civil society, and citizens. Only by fostering this lost sense of community and shared identity can Dhaka become a place where its citizens feel at home, heard, and valued.Mission Pediatrics Wins Best Healthcare CSR Award for Exceptional Community ImpactWith temperature dropping and everyone gearing up for the magic of Chistmas, the season for cosy hot chocolate is finally upon us. And while Jack Frost is ipping at your nose, Londoners are bundling up and warming their hands and hearts with variety of delicious cocoa treats. London's hot chocolate scene has evolved far beyond simple cocoa powder and milk, with artisanal cafes and chocolatiers offering extraordinary variations of this beloved winter warmer. From thick, Italian-style drinking chocolate to innovative flavour combinations, the city's best hot chocolate spots provide unique experiences for chocolate enthusiasts. Italian Bear Chocolate This social media sensation has revolutionised London's hot chocolate scene with their innovative triple-chocolate approach. What sets them apart is their unique layering technique: they begin by carefully melting three distinct varieties of chocolate - creamy white, smooth milk, and rich dark - which are individually ladled into each mug to create stunning visual layers before being topped with their signature hot chocolate blend. Beyond their famous drinks, their triple-layered fudge cake has become equally legendary, drawing comparisons to the infamous cake scene in Roald Dahl's Matilda. Address: 41 Broadwick St, Carnaby, London W1F 9QL, United Kingdom Timings: 10 am to 11 pm Cost for two: £10–20 Chin Chin Labs This innovative dessert laboratory has earned its reputation through experimental creativity and theatrical presentation. Their signature hot chocolate experience features a generous crown of marshmallow fluff, dramatically blow-torched to order for a caramelised finish. The brand has cleverly expanded beyond its brick-and-mortar locations by offering a premium home delivery service - their DIY hot chocolate kits contain pre-blended Valrhona chocolate (a prestigious French chocolate maker) prepared in their Soho kitchen. The addition of their famous marshmallow fluff allows customers to recreate their signature experience at home. Address: 49-50 Camden Lock Pl, London NW1 8AF, United Kingdom Timings: 12 pm to 7 pm Cost for two: £15 Ruby Violet Hidden away in King's Cross, this charming ice cream parlour offers a unique take on hot chocolate with their 'short and intense' serving. Unlike standard hot chocolates, they serve their concentrated creation in an elegant gold cup, accompanied by house-made almond brittle that provides a delightful textural contrast. The intimate setting and attention to detail make this spot perfect for chocolate purists seeking quality over quantity. While hot chocolate might not be their primary focus, they've managed to create a distinctive offering that complements their artisanal ice cream selection. Address: Midland Goods Shed, 3 Wharf Rd, London N1C 4BZ, United Kingdom Timings: 11:30 am to 9 pm Cost for two: £15 Venchi Chocolate With a heritage spanning back to 1878, this Italian chocolate institution brings authentic European chocolate craftsmanship to London. Their hot chocolate menu showcases their expertise in chocolate making, featuring various formulations that cater to modern dietary requirements including gluten-free and vegan options. Their commitment to quality ingredients and traditional methods, combined with their willingness to adapt to contemporary dietary needs, has helped maintain their position as one of London's premier chocolate destinations. Address: Unit 18 The Market Building, London WC2E 8RB, United Kingdom Timings: 10 am to 11 pm Cost for two: £10 KonditorThis established bakery chain, founded by Gerhard Jenne in 1993, has an impressive celebrity pedigree, having baked for music legends like Tina Turner and the Rolling Stones. Starting from a single Waterloo location, they've expanded to three central London stores, earning critical acclaim along the way. Their hot chocolate stands out for its rich, comforting quality - particularly appreciated during London's colder months. The combination of their baking expertise and chocolate craftsmanship has created a unique hot chocolate offering that complements their celebrated cake selection. Address: 9 Bow Ln, London EC4M 9EB, United Kingdom Timings: 8 am to 6 pm Cost for two: £10 The Parlour at Fortnum & Mason This iconic department store's parlour adapts seasonally, transitioning from summer sundaes to winter hot chocolates. Their menu features three distinct varieties: classic dark, creamy milk, and innovative salted caramel, all available with indulgent toppings of whipped cream and chocolate shavings. They offer a special £12.25 pairing menu that matches their hot chocolates with premium treats like millionaire's shortbread, honey and ginger cheesecake, or orange madeleines, creating a complete luxury chocolate experience. Address: 1st floor, Fortnum & Mason, 181 Piccadilly, London W1A 1ER, United Kingdom Timings: 10 am to 8 pm Cost for two: £20 Gelupo While primarily known for its exceptional gelato, this Soho establishment offers a sophisticated take on hot chocolate during winter months. Their interpretation is distinctly Italian in style - eschewing the typical British additions of marshmallows and whipped cream in favour of an intense, concentrated shot of melted dark chocolate. This adult-oriented approach provides a pure, unadulterated chocolate experience that's more akin to drinking liquid truffles than traditional hot chocolate. Address: 7 Archer St, London W1D 7AU, United Kingdom Timings: 12 pm to 11 pm Cost for two: £15 KnoopsThis Sussex-born chocolate specialist has successfully expanded into London with a scientific approach to hot chocolate creation. Their unique concept involves trained "Knoopologists" who guide customers through selecting their ideal chocolate percentage from an extensive "chocolate library" featuring white, milk, ruby, and dark varieties. The experience can be further customised with carefully selected additions like Maldon sea salt, Szechuan pepper, or cardamom. The presentation includes their signature homemade marshmallow square and bowl-style serving, creating an elevated hot chocolate experience that's both educational and indulgent. Address: 2 New Row, London WC2N 4LH, United Kingdom Timings: 9 am to 10:30 pm Cost for two: £10 Get Latest News Live on Times Now along with Breaking News and Top Headlines from Food Reviews, Lifestyle and around the world.
The Estée Lauder Companies Inc. (NYSE:EL) Stock Holdings Lowered by Mutual of America Capital Management LLC
The Fortnite gods are smiling down upon us, as players can now permanently add some classic characters to their collection for absolutely nothing. Forget nabbing Chord Kahele or Mr. Dappermint for free because several Fortnite favorites have found a new place in our lockers. Epic Games has been gifting gamers plenty in the run-up to Christmas, with a growing sack of presents that includes the popular Fortnite OG , the first-person Fortnite Ballistic , and the upcoming LEGO Fortnite Brick Life . And now, although some have been asking for it since launch, Epic Games has finally added the ability to choose your default skin before jumping into a game. It comes alongside the release of Fortnite OG, which gives players a healthy dose of nostalgia by showing off how the shooter used to look (with a few graphical upgrades). Fortnite finally lets players always choose default Jonesy Over on Reddit, fans joked about how selecting your default skin is basically like Fortnite giving out a free Jonesy. Despite starting out as any other ‘Recruit’, Jonesy has since become a core part of the Fortnite mythos and is arguably the game’s most important original creation. While chances are many players already have an array of different Jones skins , the default selection option is effectively Jonesy The First without having to buy him separately or purchase the Battle Classics Bundle. One Reddit user wrote, “It actually annoys me when I was little, randomizing defaults skins that I don’t like, thank goodness they added this.” They weren’t alone in their praise, with others flocking to the comments to thank Epic for finally letting them pick a default character. Related: As well as someone simply calling it a ‘W’, another cheered, “Oooooh. Yeah I did always think it was weird that it was randomized. Don’t run it much but nice to have the option!” Someone else couldn’t wait to try on their default threads and said, “Gonna run default Jonesy for a few games just [because] I can now.” Although these skins have become associated with bots or tryhards who like to troll by lulling newer players into a false sense of security, the likes of Jonesy have continued to grow in popularity. He might be the MVP of the Recruits, but now, Banshee and Renegade supporters can wear their skins with pride too. Expect to see lobbies filled with default Jonesy, which makes a change from the trend of every game being littered with Slayer Juice WRLD skins after Epic gave them away for free.VIENNA — The Vienna Eagles overcame a 12-0 first-period deficit to defeat the state’s top-ranked team in Class 1A — the Meridian Bobcats — Friday night, 71-65. The Eagles are now 3-0 on the season and will host Massac County tonight (Saturday) at 7:30 to close out the Thanksgiving week tourney. The Bobcats fall to 2-1 and close out tourney play with a 6 p.m. game today against Carrier Mills. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
When Massachusetts voters decided to ditch the state's standardized tests as a high school graduation requirement on Election Day, they joined a trend that has steadily chipped away at the use of high-stakes tests over the past two decades. The vote on the ballot question leaves only seven states with mandatory graduation exams, a number that could soon shrink further. A backlash to standardized tests has been fueled by complaints they take up too much classroom time and questions about how well they measure readiness for college or careers. It gained steam in recent years with concerns about equity and learning setbacks during the COVID-19 pandemic. In Massachusetts, a teachers union led the campaign against the graduation requirement, arguing it was keeping too many students from receiving a diploma and weighing too heavily on choices about school curriculum. The other side received backing from prominent business leaders including former New York City Mayor Michael Bloomberg and state officials including Gov. Maura Healey, a Democrat. "We shouldn't have different expectations for students depending on which ZIP code they live in," Healey said. "We should have a uniformity to our expectations and they should be high for our students and our families." The Massachusetts Comprehensive Assessment System tests are given in mathematics, science and technology, and English. The ballot question didn't end the tests, which are also used for assessing student progress. But passing them will no longer be required for a diploma. About 1% of high school seniors in Massachusetts, roughly 700 students, are denied a diploma each year because they failed the MCAS despite meeting other requirements. Most are English language learners or students with disabilities. Other states could abandon similar tests In the mid-2000s, a high of 27 states required students to pass an exam to graduate, according to the National Education Association, the nation's largest teachers union. The states that still have them, for now, are New York, Florida, Louisiana, Ohio, New Jersey, Texas and Virginia. In New York, state officials this month proposed a timeline to phase out exit exam requirements as part of an overhaul of graduation standards. Students would still take Regents exams in math, English, science and social studies, but beginning in the 202728 school year, passing scores would no longer be required for a diploma. The plan would give students alternatives like community service or capstone projects to demonstrate proficiency. Earlier this year, the Florida Senate passed a bill that would remove testing requirements for high school graduation, but the push stalled in the House. In New Jersey, a bill to end the state's graduation exam passed the state Assembly last year but then failed to pass the Senate. In Ohio, students must pass tests in reading, writing, mathematics, science and social studies to graduate. Louisiana also requires students to pass a test and is the only state without an appeals process. In Texas, students must pass end-of-course assessments in algebra, English, biology and U.S. history. Debate continues over how to measure readiness Harry Feder, executive director of FairTest, which opposes the use of tests as graduation requirements, said it makes sense to shift away from the tests he calls a "cheap and easy way" to conduct education. "What we want out of high school grads isn't measured very well by a standardized test," he said, including whether students are critical thinkers, problem solvers or able to collaborate. Critics say easing the graduation requirement will result in lower standards. "The vote against the MCAS is yet another sign of the overwhelming power of the teachers unions in blue states, and will turn Massachusetts diplomas into nothing but participation trophies," said Michael Petrilli, president of the right-leaning Fordham Institute. Financial support for the elimination of the Massachusetts test requirement largely came from teachers unions, including the Massachusetts Teachers Association, which contributed millions in direct and in-kind donations, and the NEA, which donated at least $500,000. On the other side, Bloomberg contributed $2.5 million to the campaign in favor of keeping the requirement. Massachusetts Teachers Association President Max Page and Vice President Deb McCarthy said teachers have been speaking out against the requirement for more than a decade. "Students who were passing their courses were being denied diplomas because of this requirement," they said. "Educators were forced to narrow the curriculum in order to teach to the high-stakes test." Ultimately, Massachusetts voters approved getting rid of the MCAS as a graduation requirement by a margin of 59% to 41%. Be the first to know Get local news delivered to your inbox!WESTLAKE, Ohio--(BUSINESS WIRE)--Dec 11, 2024-- Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal fourth quarter ended October 31, 2024. Sales were $744 million, a 4% increase compared to the prior year’s fourth quarter sales of $719 million. The increase in fourth quarter 2024 sales included the favorable 6% impact of acquisitions and favorable currency translation of 1%, offset by an organic sales decrease of 3%. Net income was $122 million, or earnings per diluted share of $2.12, compared to prior year’s fourth quarter net income of $128 million, or earnings per diluted share of $2.22. Adjusted net income was $160 million, an increase from prior year adjusted net income of $156 million. Fourth quarter 2024 adjusted earnings per diluted share were $2.78 compared to prior year adjusted earnings per diluted share of $2.71. EBITDA in the fourth quarter was $241 million, or 32% of sales, an increase of 4% compared to prior year EBITDA of $227 million, also at 32% of sales. Commenting on the Company’s fiscal 2024 fourth quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “I appreciate our team’s focus and commitment to our customers, which delivered results above our fourth quarter guidance expectations. Our Advanced Technology Solutions segment delivered year-over-year fourth quarter sales growth, as electronics demand continued to steadily improve at fiscal year-end. During the down electronics cycle, our ATS team holistically implemented the NBS Next growth framework, making them responsive to the needs of our customers while also delivering a strong incremental operating performance. Our industrial product lines performed well against record comparisons from prior year. I’m also pleased with the early integration of our Atrion Medical acquisition, which contributed positively to the quarter.” Fourth Quarter Segment Results Industrial Precision Solutions sales of $392 million decreased 3% compared to the prior year fourth quarter, driven by a 5% organic sales decrease, a favorable acquisition impact of 1%, and a favorable currency impact of 1%. The organic sales decrease, following record organic sales in prior year fourth quarter, was driven by our industrial coatings, polymer processing and precision agriculture product lines, partially offset by double-digit growth in nonwovens product lines. Operating profit was $126 million in the quarter, or 32% of sales, a decrease of 4% compared to the prior year operating profit. The decrease in operating profit was driven by lower sales. EBITDA in the quarter was $143 million, or 37% of sales, a 3% decrease from the prior year fourth quarter EBITDA of $148 million, which also was 37% of sales. Medical and Fluid Solutions sales of $200 million increased 19% compared to the prior year fourth quarter, driven primarily by the acquisition of Atrion, which offset an organic sales decrease of 3% and a favorable currency impact of 1%. The organic sales decrease was driven by softness in medical interventional solutions product lines, partially offset by modest growth in our medical fluid components and fluid solutions product lines. Operating profit totaled $44 million in the quarter, or 22% of sales, a decrease of 8% compared to the prior year operating profit. EBITDA in the quarter was $72 million, or 36% of sales, an increase versus the prior year fourth quarter EBITDA of $62 million, or 37% of sales. Advanced Technology Solutions sales of $152 million increased 5% compared to the prior year fourth quarter, driven by an organic sales increase of 4% and a favorable currency impact of 1%. The organic sales increase was driven by double-digit growth in select test and inspection product lines and modest growth in our electronics processing product lines. Operating profit totaled $33 million in the quarter, or 22% of sales, an increase of 6% compared to the prior year operating profit due to higher sales and improved profit margins. EBITDA in the quarter was $41 million, or 27% of sales, an increase from the prior year fourth quarter EBITDA of $35 million, or 24% of sales. Fiscal 2024 Full Year Results Sales for the fiscal year ended October 31, 2024, were a record $2.7 billion, an increase of 2% compared to the prior year. This sales growth was driven by a favorable acquisition impact of 5%, partially offset by a 3% decrease in organic volume. Net income was $467 million, or earnings per diluted share of $8.11, compared to prior year’s net income of $487 million, or earnings per diluted share of $8.46. Adjusted net income was $561 million, a decrease from prior year adjusted net income of $567 million. Adjusted earnings per diluted share were $9.73 compared to prior year adjusted earnings per diluted share of $9.85. EBITDA was $849 million, or 32% of sales, compared to prior year EBITDA of $819 million, or 31% of sales. Free cash flow for the full-year was $492 million, which was a conversion rate of 105% of net income. Reflecting on fiscal 2024, Mr. Nagarajan continued, “In 2021, we launched our Ascend strategy with the milestone of achieving $3 billion in annual sales and greater than 30% EBITDA margins by 2025. The strategy is delivering results and has ample runway to accelerate. Our diversified portfolio, built on our leadership in niche end markets with differentiated products, is delivering balanced results in the ever-changing macro environment. Our acquisition strategy is generating growth, and I am pleased with the integration and deployment of the NBS Next growth framework. We also continued to generate strong free cash flow in the year, allowing us to consistently reinvest in the business while returning cash to our shareholders.” Outlook Following four consecutive years of record-setting performance, we enter fiscal 2025 with approximately $580 million in backlog. Based on the combination of order entry, backlog, current exchange rates and anticipated end market expectations, we anticipate delivering sales in the range of $2,750 to $2,870 million in fiscal 2025. Full year fiscal 2025 adjusted earnings are forecasted in the range of $9.70 to $10.50 per diluted share. First quarter fiscal 2025 sales are forecasted in the range of $615 to $655 million with adjusted earnings in the range of $1.95 to $2.15 per diluted share. Commenting on fiscal 2025 guidance, Nagarajan said, “Considering the evolving global macro-environment, we are entering 2025 with a conservative viewpoint. The fiscal first quarter is seasonally Nordson’s weakest quarter due to the holiday and calendar year-end slowdowns and cautious customer spending. While we remain confident about the long-term growth drivers of our end markets, we are being prudent about our expectations for end market recovery timing, particularly for our electronics and agricultural product lines. Even in uncertain times, our team delivers operational excellence and strong cash flow due to our close-to-the-customer business model, diversified niche end markets, differentiated products and the NBS Next growth framework.” Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, December 12, 2024 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com . Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com . Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions, including the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflict between Russia and Ukraine, acts of terror, natural disasters and pandemics, including the recent coronavirus (COVID-19) pandemic and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release. Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com , linkedin/Nordson , or www.facebook.com/nordson . View source version on businesswire.com : https://www.businesswire.com/news/home/20241211087016/en/ CONTACT: Lara Mahoney Vice President, Investor Relations & Corporate Communications 440.204.9985 Lara.Mahoney@nordson.com KEYWORD: OHIO UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION PACKAGING ENGINEERING SEMICONDUCTOR TECHNOLOGY MANUFACTURING OTHER MANUFACTURING SOURCE: Nordson Corporation Copyright Business Wire 2024. PUB: 12/11/2024 04:30 PM/DISC: 12/11/2024 04:32 PM http://www.businesswire.com/news/home/20241211087016/en