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People visit an exhibition of Chinese electric vehicle maker BYD at the Essen Motor Show in Essen, Germany, Nov. 29. AP-Yonhap Chinese carmakers eye Korea to offset falling sales in Europe BYD is expected to make quicker inroads into the Korean market by leveraging potential ties with Affinity Equity Partners, a Hong Kong-based private equity firm that holds management rights for the two largest rental car companies in the country, industry officials and experts said, Thursday. The Chinese electric vehicle (EV) maker is nearing the completion of preparations for passenger car sales in Korea, ahead of its official debut in January. The company is the world's largest EV manufacturer based on global sales volume. BYD's upcoming debut may not pose an immediate threat to Korean competitors, given the relatively low perception of Chinese vehicles among local customers. However, market watchers acknowledge the possibility that the EV giant could gradually build its brand awareness by supplying its flagship EV models to major rental car operators. "Korean customers still have limited trust in Chinese vehicles, but this could change as the perception of BYD improves after a significant number of the company's EVs are supplied to rental car firms nationwide," said an official from the local auto industry. In June, Affinity took over a controlling stake in SK Rent-a-Car, the nation’s second-largest rental car business operator. Early this month, Affinity was named the preferred bidder to acquire Lotte Rental, the market leader in the sector. As of the end of September, the two firms’ combined market share reached over 35 percent here, operating some 450,000 rental cars. BYD's K9 electric bus / Courtesy of BYD “If BYD clears away any lingering concerns over its quality and draws more favorable responses from customers, the carmaker will be able to expand its footing, as was the case with Chinese EV buses which have achieved robust growth here for the past few years,” the official said. In 2019, Chinese electric buses accounted for just 23.9 percent of the market in Korea, but this figure surged to 54.1 percent last year, driven by their unmatched price competitiveness. Experts have raised concerns that the share of Chinese EV makers in the Korean market is likely to grow, as the country is unable to impose significant sanctions through tariffs. “Korea will not be able to impose countervailing duties on Chinese EVs, as the local economy is highly vulnerable to retaliatory measures from China (due to Korea’s strong trade reliance on China),” said Kim Pil-soo, an automotive technology professor at Daelim University College. According to data from auto market tracker DataForce, Chinese EVs have experienced sluggish growth in Europe due to punitive tariffs on vehicles imported from the world’s second-largest economy. In November, Chinese EVs accounted for 7.4 percent of the European EV market, a decrease of 0.8 percentage point from the previous month and the lowest figure since March of this year. However, the scenario is not feasible in Korea whose economy is heavily reliant on trade with China, according to Kim. Starting with BYD, several other Chinese EV makers are set to enter the Korean market, hoping to replicate their success in the EV bus market and expand their foothold in the passenger EV sector, the expert said. "There is a growing likelihood that the market share of Chinese passenger EVs will increase in Korea, which could pose a threat to Korea's key industrial sectors, such as EVs and batteries," he said. To remove this article -Nel ASA: Receives another 10 MW purchase order from Samsung C&T The first contract with Samsung C&T signed earlier this year was for an off-grid project based on solar power, while the client will now set up a demonstration plant to validate the commercial model for nuclear pink hydrogen. The aim is to produce hydrogen from excess nuclear power generation, allowing to utilize energy that is otherwise wasted in periods of oversupply, increasing overall energy efficiency President and CEO of Nel ASA, says: Samsung C&T (Construction and Trading) focuses on global engineering, procurement, and construction. The company has signed several green hydrogen agreements and continues to strengthen its energy transition business portfolio. Samsung C&T’s Head of Energy Solution Business Unit, , says : “There is no doubt that Nel’s technology can meet our expectation. We are thrilled to partner with Nel again in pink hydrogen production project. Samsung C&T hope to strengthen the partnership with Nel to develop more opportunities in clean hydrogen business,” This is a firm purchase order for alkaline stacks and balance-of-stacks (BoS). The electrodes will be produced in the Herøya facility in Norway, the world’s first fully automated electrolyser production line. the latest news shaping the hydrogen market at Nel ASA: Receives another 10 MW purchase order from Samsung C&T, ITD District 6 Leads Innovation with HyMax Hydrogen Fuel Cell Deployment, Ensuring Safer and Smarter Roads in Idaho With the first deployment of HyMax hydrogen fuel cells, ITD District 6 ensures uninterrupted traffic... SFC Energy is participating in a pilot project (GH2GH) with a fuel cell energy solution as part of the Export Initiative Environmental Protection in Tema, Ghana • Energy supply for Sub-Saharan Africa with EFOY Hydrogen... Korea – Gov’t selects Gyeongju as home to country’s largest hydrogen fuel cell plant SEOUL, Nov. 28 (Yonhap) — The finance ministry said Thursday it has selected the southeastern city of Gyeongju...
Man City blow three-goal lead in Champions League, Bayern beat PSG
Well, this may be just for you: USA Football is holding talent identification camps all over the country to find that next flag football star. It's "America's Got Talent" meets "American Idol," with the stage being the field and the grand prize a chance to compete for a spot on a national team. Because it's never too early to start planning for the 2028 Olympics in Los Angeles, where flag football will make its Summer Games debut. Know this, though — it's not an easy team to make. The men's and women's national team rosters are at "Dream Team" status given the men's side has captured six of the last seven world championships and the women three in a row. To remain on top, the sport's national governing body is scouring every football field, park, track, basketball court and gym to find hidden talent to cultivate. USA Football has organized camps and tryouts from coast to coast for anyone ages 11 to 23. There are more than a dozen sites set up so far, ranging from Dallas (Sunday) to Chicago (Dec. 14) to Tampa (March 29) to Los Angeles (TBD) and the Boston area (April 27), where it will be held at Gillette Stadium, home of the New England Patriots. The organization has already partnered with the NFL on flag football initiatives and programs. The numbers have been through the roof, with engagement on social media platforms increasing by 86% since flag football was announced as an Olympic invitational sport in October 2023. The participation of boys and girls ages 6 to 17 in flag football last year peaked at more than 1.6 million, according to USA Football research. "We pride ourselves on elevating the gold standard across the sport," said Eric Mayes, the managing director of the high performance and national teams for USA Football. "We want to be the best in the world — and stay the best in the world." Flag football was one of five new sports added to the LA28 program. The already soaring profile of American football only figures to be enhanced by an Olympic appearance. Imagine, say, a few familiar faces take the field, too. Perhaps even NFL stars such as Tyreek Hill or Patrick Mahomes, maybe even past pro football greats donning a flag belt for a country to which they may have ties. Soon after flag football's inclusion, there was chatter of NFL players possibly joining in on the fun. Of course, there are logistical issues to tackle before their inclusion at the LA Olympics, which open July 14, 2028. Among them, training camp, because the Olympics will be right in the middle of it. The big question is this: Will owners permit high-priced players to duck out for a gold-medal pursuit? No decisions have yet been made on the status of NFL players for the Olympics. For now, it's simply about growing the game. There are currently 13 states that sanction girls flag football as a high school varsity sport. Just recently, the Pittsburgh Steelers and Philadelphia Eagles helped pave the way to get it adopted in Pennsylvania. Around the world, it's catching on, too. The women's team from Japan took third at the recent word championships, while one of the best players on the planet is Mexico quarterback Diana Flores. "Could flag football globally become the new soccer? That's something to aspire to," said Stephanie Kwok, the NFL's vice president of flag football. This type of flag football though, isn't your Thanksgiving Day game with family and friends. There's a learning curve. And given the small roster sizes, versatility is essential. Most national team members need to be a version of Colorado's two-way standout and Heisman hopeful Travis Hunter. Forget bump-and-run coverage, too, because there's no contact. None. That took some adjusting for Mike Daniels, a defensive back out of West Virginia who earned a rookie minicamp invitation with the Cleveland Browns in 2017. "If a receiver is running around, I'm thinking, 'OK, I can kind of bump him here and there and nudge him,'" Daniels explained. "They're like, 'No, you can't.' I'm just like, 'So I'm supposed to let this guy just run?!' I really rebelled at the idea at first. But you learn." The competition for an Olympic roster spot is going to be fierce because only 10 players are expected to make a squad. The best 10 will earn it, too, as credentials such as college All-American or NFL All-Pro take a backseat. "I would actually love" seeing NFL players try out, said Daniels, who's also a personal trainer in Miami. "I'm not going to let you just waltz in here, thinking, 'I played NFL football for five years. I'm popular. I have a huge name.' I'm still better than you and I'm going to prove it — until you prove otherwise." Around the house, Bruce Mapp constantly swivels his hips when turning a hallway corner or if his daughter tries to reach for a hug. It's his way of working on avoiding a "defender" trying to snare the flag. That approach has earned the receiver out of Coastal Carolina four gold medals with USA Football. The 31-year-old fully plans on going for more gold in Los Angeles. "You grow up watching Usain Bolt (win gold) and the 'Redeem Team' led by Kobe Bryant win a gold medal, you're always thinking, 'That's insane.' Obviously, you couldn't do it in your sport, because I played football," said Mapp, who owns a food truck in the Dallas area. "With the Olympics approaching, that (gold medal) is what my mind is set on." It's a common thought, which is why everything — including talent camps — starts now. "Everybody thinks, 'Yeah, the U.S. just wins,'" Daniels said. "But we work hard all the time. We don't just walk in. We don't just get off the bus thinking, 'We're going to beat people.'"Texas' abortion pill lawsuit against New York doctor marks new challenge to interstate telemedicine Texas has sued a New York doctor for prescribing abortion pills to a Texas woman via telemedicine. It appears to be the first challenge in the U.S. to a state shield law that's intended to protect prescribers in Democratic-controlled states from being punished by states with abortion bans. Prescriptions like these, made online and over the phone, are a key reason that the number of abortions has increased across the U.S. even after state bans started taking effect. Most abortions in the U.S. involve pills rather than procedures. Anti-abortion groups are increasingly focusing on the rise of pills. Syrians cheer end of 50 years of Assad rule at first Friday prayers since government fell DAMASCUS (AP) — Exuberant Syrians observed the first Friday prayers since the ouster of President Bashar Assad, gathering in the capital’s historic main mosque, its largest square and around the country to celebrate the end of half a century of authoritarian rule. The newly installed interim prime minister delivered the sermon at the Umayyad Mosque, declaring that a new era of “freedom, dignity and justice” was dawning for Syria. The gatherings illustrated the dramatic changes that have swept over Syria less than a week after insurgents marched into Damascus and toppled Assad. Amid the jubilation, U.S. Secretary of State Antony Blinken met with allies around the region and called for an “inclusive and non-sectarian” interim government. US military flies American released from Syrian prison to Jordan, officials say WASHINGTON (AP) — The U.S. military has brought an American who was imprisoned in Syria for seven months out of the country. That's according to two U.S. officials, who said Friday that Travis Timmerman has been flown to Jordan on a U.S. military helicopter. The 29-year-old Timmerman told The Associated Press earlier Friday he had gone to Syria on a Christian pilgrimage and was not ill-treated while in a notorious detention facility operated by Syrian intelligence. He said he was freed by “the liberators who came into the prison and knocked the door down (of his cell) with a hammer.” New Jersey governor wants more federal resources for probe into drone sightings TOMS RIVER, N.J. (AP) — New Jersey Gov. Phil Murphy has asked the Biden administration to put more resources into the ongoing investigation of mysterious drone sightings being reported in the state and other parts of the region. Murphy, a Democrat, made the request in a letter Thursday, noting that state and local law enforcement remain “hamstrung” by existing laws and policies in their efforts to successfully counteract any nefarious drone activity. Murphy and other officials say there is no evidence that the drones pose a national security or a public safety threat. A state lawmaker says up to 180 aircraft have been reported to authorities since Nov. 18. Nancy Pelosi hospitalized after she 'sustained an injury' from fall on official trip to Luxembourg WASHINGTON (AP) — Former House Speaker Nancy Pelosi has been hospitalized after she “sustained an injury” during an official engagement in Luxembourg, according to a spokesman. Pelosi is 84. She was in Europe to mark the 80th anniversary of the Battle of the Bulge in World War II. Her spokesman, Ian Krager, did not describe the nature of her injury or give any additional details, but a person familiar with the incident said that Pelosi tripped and fell while at an event with the other members of Congress. The person requested anonymity to discuss the fall because they were not authorized to speak about it publicly. Russia targets Ukrainian infrastructure with a massive attack by cruise missiles and drones KYIV, Ukraine (AP) — Russia has launched a massive aerial attack against Ukraine. Ukrainian President Volodymyr Zelenskyy says Russia fired 93 cruise and ballistic missiles and almost 200 drones in Friday's bombardments. He says it is one of the heaviest bombardments of the country’s energy sector since Russia’s full-scale invasion almost three years ago. He says Ukrainian defenses shot down 81 missiles, including 11 cruise missiles that were intercepted by F-16 warplanes provided by Western allies earlier this year. Zelenskyy renewed his plea for international unity against Russian President Vladimir Putin. But uncertainty surrounds how the war might unfold next year. President-elect Donald Trump has vowed to end the war and has thrown into doubt whether vital U.S. military support for Kyiv will continue. Trump’s lawyers rebuff DA's idea for upholding his hush money conviction, calling it 'absurd' NEW YORK (AP) — President-elect Donald Trump’s lawyers are again urging a judge to throw out his hush money conviction. In a court filing Friday, they balked at the prosecution’s “absurd” idea for preserving the verdict by treating the case the way some courts do when a defendant dies before sentencing. The Manhattan district attorney’s office is asking Judge Juan M. Merchan to “pretend as if one of the assassination attempts against President Trump had been successful,” Trump’s lawyers wrote in a blistering 23-page response. In court papers made public Tuesday, District Attorney Alvin Bragg’s office proposed an array of options for keeping the historic conviction on the books after Trump’s lawyers filed paperwork earlier this month asking for the case to be dismissed. Some in seafood industry see Trump as fishermen's friend, but tariffs could make for pricier fish PORTLAND, Maine (AP) — The incoming administration of President-elect Donald Trump is likely to bring big changes to seafood, one of the oldest sectors of the U.S. economy. Some in the industry believe the returning president will be more responsive to its needs. Economic analysts paint a more complicated picture, as they fear Trump’s pending trade hostilities with major trading partners Canada and China could make an already pricy kind of protein more expensive. Conservationists also fear Trump’s emphasis on deregulation could jeopardize fish stocks already in peril. But many in the commercial fishing and seafood processing industries said they expect Trump to allow fishing in protected areas and crack down on offshore wind expansion. OpenAI's legal battle with Elon Musk reveals internal turmoil over avoiding AI 'dictatorship' A 7-year-old rivalry 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. Paula Abdul settles lawsuit alleging sexual assault by 'American Idol' producer Nigel Lythgoe LOS ANGELES (AP) — Paula Abdul and former “American Idol” producer Nigel Lythgoe have agreed to settle a lawsuit in which she alleged he sexually assaulted her in the early 2000s when she was a judge on the show. Abdul filed a notice of settlement of the case in Los Angeles Superior Court on Thursday. The lawsuit filed nearly a year ago had also accused Lythgoe of sexually assaulting Abdul after she left “American Idol” and became a judge on Lythgoe’s other competition show “So You Think You Can Dance.” Lythgoe said at the time that he was “shocked and saddened” by the allegations, which he called “an appalling smear.”
NoneOpenAI outlines new for-profit structure in bid to stay ahead in costly AI race
You may think $5,000 isn't enough to make a life-changing investment, but with enough time and the right stocks, it could grow to $20,000, $50,000, or even $100,000 or more. The power of compounding means that the longer you hold stocks, the faster your portfolio will grow as it will be generating returns off a higher base. The S&P 500 ( ^GSPC -1.11% ) has historically returned an annual average of 9% yearly, a strong clip. You can earn even higher returns by investing in growth stocks, including tech stocks, which have the potential to generate high returns through technological disruption and the exponential growth of new technology. Keep reading to see two stocks, in particular, that look like bargain buys right now. 1. ASML ASML ( ASML -0.32% ) might not be a household name, but it's one of the most important tech companies in the world. The company is the leading maker of lithography machines that chip manufacturers like Taiwan Semiconductor Manufacturing use to make semiconductors. It's also the only maker of extreme ultraviolet (EUV) lithography machines, which are used to make the most advanced chips (including the ones used for artificial intelligence (AI)-related work). That position gives ASML a significant competitive advantage, but it hasn't been able to parlay that into a winning performance in 2024. Year to date through Dec. 26, the stock is down 5.5% as demand has slowed from China, bookings have been surprisingly weak, and the company cut its guidance for 2025. The semiconductor equipment industry operates in its own cycle, separate from actual chips, and there's been a lull across the sector due (partly) to delays in new foundries. However, those foundries are coming. Companies like Intel , Micron Technology ( MU -1.32% ) , and TSMC have all been awarded billions of dollars by the U.S. government via the CHIPS Act to build new factories in the U.S., and the AI boom is leading to production expansion in other parts of the world as well. However, these projects tend to take years so the timing of that windfall is uncertain. Nonetheless, ASML should return to strong and steady growth. In 2025, ASML management estimates revenue of 30 billion to 32.5 billion euros, or 15% growth. Margins are also set to improve as headwinds from 2024 roll off and the business scales up. ASML should bounce back after a rough year and it has a bright future beyond 2025. 2. Micron Technology Another semiconductor stock that is limping into the end of the year is Micron Technology, an integrated maker of memory chips. Micron shares soared earlier in the year as it was seen as one of the winners in the AI boom, but that rally gave way to a pullback after its next round of results wasn't as strong as expected. However, that puts Micron in an appealing position heading into 2025 as the company is still growing rapidly on a year-over-year basis and trades at a price-to-earnings ratio of 10 based on earnings estimates for the current fiscal year. Unlike most chip companies, Micron both designs and manufactures its own chips, and that and its exposure to memory chips make the business highly cyclical. The good news for investors is that the business is on an upswing as it capitalizes on AI demand. Revenue nearly doubled to $8.7 billion in its recently reported fiscal first quarter, and the company said that for the first time in its history, data center revenue topped more than 50% of its total. The data center segment is where the AI boom is taking place so Micron's growth in that category shows it's capitalizing on the emerging market. Micron's biggest customer is believed to be Nvidia , which should also help its growth. With demand for AI chips likely just beginning, Micron shares could easily surge over the next few years. At a forward P/E of just 10, the stock looks like a downright bargain.
Manchester City's struggles continued as Pep Guardiola's side remarkably blew a three-goal lead to draw 3-3 with Feyenoord in the Champions League on Tuesday, while Bayern Munich beat Paris Saint-Germain to leave the French club in danger of elimination. There were also big wins for Arsenal, Atletico Madrid, Atalanta and Bayer Leverkusen, while Inter Milan went top of the standings after five games and Barcelona's Robert Lewandowski reached a century of Champions League goals. However, the biggest drama came at the Etihad Stadium, where City were cruising early in the second half with a three-goal advantage as they sought to end a run of five successive defeats in all competitions. Erling Haaland opened the scoring from a penalty just before half-time, and Ilkay Gundogan's deflected shot made it 2-0 in the 50th minute. Haaland struck again to make it 3-0, but Feyenoord's comeback began on 75 minutes when Anis Hadj Moussa took advantage of hapless defending to round goalkeeper Ederson and pull one back. Substitute Santiago Gimenez bundled in to make it 3-2 on 82 minutes and the equaliser arrived a minute from the end. Ederson was again caught out with Igor Paixao going around the goalkeeper and crossing for Slovak international David Hancko to head in. "We concede a lot of goals because we are not stable," complained Guardiola. "We lost a lot of games lately. We are fragile and of course we need a victory." It is the first time that a team has gone into the last 20 minutes of a Champions League game trailing by three goals and still avoided defeat, as the point boosts the Dutch side's hopes of progressing. City are two points outside the top eight places which offer direct qualification for the last 16, while Bayern moved above them by beating PSG 1-0 in Munich. South Korean defender Kim Min-jae scored the only goal seven minutes before half-time, heading in after goalkeeper Matvei Safonov failed to clear a corner. PSG had Ousmane Dembele sent off in the second half and the French champions have just four points, and three goals, from five games. They are a lowly 26th in the 36-team league, a point adrift of the positions which offer a place in the play-off round in February. "We need to win our last three matches, otherwise we risk being eliminated," admitted PSG coach Luis Enrique. Lewandowski notched his 100th goal in the competition with an early penalty in Barcelona's 3-0 home win over French side Brest. Dani Olmo netted midway through the second half before Lewandowski sealed Barca's win at the death, his 101st goal in the Champions League -- only Cristiano Ronaldo and Lionel Messi have scored more. Inter lead the standings with 13 points, a point ahead of Barcelona and Liverpool, after a 1-0 win at home to RB Leipzig which means they are also still yet to concede a goal. Castello Lukeba's own goal made the difference at San Siro, and Leipzig are one of only three teams to have lost five games out of five. Arsenal romped to a 5-1 victory away to Sporting in Lisbon, as the Portuguese side adapt to life without coach Ruben Amorim, who has departed for Manchester United. Gabriel Martinelli, Kai Havertz and Gabriel Magalhaes all scored in the first half for Arsenal, before Goncalo Inacio pulled one back shortly after the restart. Bukayo Saka converted a penalty on 65 minutes after Martin Odegaard had been brought down, and Leandro Trossard headed in to seal Arsenal's win late on. Atalanta romped to a 6-1 win over rock-bottom Young Boys in Switzerland, with Mateo Retegui and Charles De Ketelaere both scoring braces. Sead Kolasinac and Lazar Samardzic also netted for the Italians, with Silvere Ganvoula getting the hosts' reply. Florian Wirtz struck twice, including a penalty, as Leverkusen crushed Red Bull Salzburg 5-0, with Alejandro Grimaldo scoring a superb free-kick and Patrik Schick and Aleix Garcia also netting. Julian Alvarez and substitute Angel Correa each scored twice and Marcos Llorente and Antoine Griezmann once as Atletico romped to a 6-0 win away to Sparta Prague. Christian Pulisic, Rafael Leao and Tammy Abraham were the scorers in AC Milan's 3-2 win at Slovan Bratislava, whose goals came from Tigran Barseghyan and Nino Marcelli. Marko Tolic saw red at the end for Slovan, who are without a point. as/nfx YouTube Video Listen to our archived episodes: Pandora | LibSyn | YouTube Support the show: Patreon | PayPal: 1x or monthly | Square Cash * David Waldman counts the days until our next big national funding crisis . Crises more than two weeks off seem like science fiction, don’t they? Won’t we have solved it with AI by then? AI might be a lousy search engine , but it will argue with you as well as any idiot. “Giving a woman an orgasm on purpose is gay” is not AI, but an actual idiot’s opinion . AI also could never have predicted what really motivated economically anxious Republicans in the election. President Joe Biden will hopefully prioritize KITM staff pardons, but Liz Cheney and Anthony Fauci are probably next in line . The " Deny, Defend, Depose " shooter is still at large, flashing his dashing Gyllenhaalian smile while cleverly changing his backpack color, number of coat pockets, and means of transportation to elude the authorities, while ballads are sung of his exploits . We are reminded that it’s unseemly to pattern one’s social movement on the acts of law breakers. Now someone else at United Healthcare will need to sign off on hundreds of millions in ransomware payments . Devout breeder Elon Musk isn’t quite a devout Christian but is ok with you worshiping him . Elon sits at the right hand of Trump, because he outbid all of the other saviors . Musk spent $20 million on a fake “RBG” PAC, because the only thing more important than control to Elon is trolling . Trump’s working on the budget as well, helping weed out any funding not going to an Elon Musk venture , even if it means firing Louis DeJoy . Instead of a gold standard, perhaps we can base our economy on pump and dumping meme stocks ? Hawk Tuah ! House Republicans blocked release of the Matt Gaetz ethics report, because they can . Democratic Representative Sean Casten might still force them to release it, though.