WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system . The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar's dominance is threatened, however, with BRICS' growing share of GDP and the alliance's intent to trade in non-dollar currencies — a process known as de-dollarization. Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy." At a summit of BRIC nations in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar and described it as a “big mistake.” “It’s not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? We are forced to search for alternatives.” Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network, SWIFT, and allow Moscow to dodge Western sanctions and trade with partners. Trump said there is "no chance" BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen "should wave goodbye to America.” Research shows that the U.S. dollar's role as the primary global reserve currency is not threatened in the near future. An Atlantic Council model that assesses the dollar’s place as the primary global reserve currency states the dollar is “secure in the near and medium term” and continues to dominate other currencies. Trump's latest tariff threat comes after he threatened to slap 25% tariffs on everything imported from Mexico and Canada, and an additional 10% tax on goods from China, as a way to force the countries to do more to halt the flow of illegal immigration and drugs into the U.S. He has since held a call with Mexican President Claudia Sheinbaum, who said Thursday she is confident that a tariff war with the United States can be averted. Canadian Prime Minister Justin Trudeau returned home Saturday after meeting Trump, without assurances the president-elect will back away from threatened tariffs on Canada.WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system . The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar's dominance is threatened, however, with BRICS' growing share of GDP and the alliance's intent to trade in non-dollar currencies — a process known as de-dollarization. Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy." At a summit of BRIC nations in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar and described it as a “big mistake.” “It’s not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? We are forced to search for alternatives.” Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network, SWIFT, and allow Moscow to dodge Western sanctions and trade with partners. Trump said there is "no chance" BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen "should wave goodbye to America.” Research shows that the U.S. dollar's role as the primary global reserve currency is not threatened in the near future. An Atlantic Council model that assesses the dollar’s place as the primary global reserve currency states the dollar is “secure in the near and medium term” and continues to dominate other currencies. Trump's latest tariff threat comes after he threatened to slap 25% tariffs on everything imported from Mexico and Canada, and an additional 10% tax on goods from China, as a way to force the countries to do more to halt the flow of illegal immigration and drugs into the U.S. He has since held a call with Mexican President Claudia Sheinbaum, who said Thursday she is confident that a tariff war with the United States can be averted. Canadian Prime Minister Justin Trudeau returned home Saturday after meeting Trump, without assurances the president-elect will back away from threatened tariffs on Canada.Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar
NEW YORK (AP) — U.S. stocks slipped below their records in the runup to a big jobs report due on Friday. The S&P 500 edged down 0.2% Thursday after setting an all-time high for the 56th time this year the day before. The Dow Jones Industrial Average lost 0.6%, while the Nasdaq composite fell 0.2%. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before falling back toward $99,000. It’s climbed dramatically since Election Day on hopes President-elect Donald Trump will be more friendly to crypto. Airline stocks were strong, while Treasury yields held relatively steady in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are drifting around their records Thursday in the runup to a big jobs report due on Friday. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The S&P 500 was edging down by 0.1% after setting an all-time high for the 56th time this year the day before to improve one of its best years of the millennium . The Dow Jones Industrial Average was down 183 points, or 0.4%, with roughly an hour remaining in trading, while the Nasdaq composite was nearly unchanged from its own record set the day before. Bitcoin powered above $100,000 the night before, after President-elect Donald Trump chose a crypto advocate, Paul Atkins, as his nominee to head the Securities and Exchange Commission. The cryptocurrency has climbed dramatically from less than $70,000 on Election Day, but it quickly fell back as Thursday progressed toward $99,000, according to CoinDesk. Sharps swings for bitcoin are nothing new, and they took stocks of companies enmeshed in the crypto world on a similar ride. After rising as much as 9% in early trading, MicroStrategy, a company that’s been raising cash just to buy bitcoin, swung to a loss of 5.9%. Crypto exchange Coinbase Global fell 3.2% after likewise erasing a big early gain. Elsewhere on Wall Street, stocks of airlines helped lead the way following the latest bumps up to financial forecasts from carriers. American Airlines Group soared 18.6% after saying it’s making more in revenue during the last three months of 2024 than it expected, and it will likely make a bigger profit than it had earlier forecast. The airline also chose Citi to be its exclusive partner for credit cards that give miles in its loyalty program. That should help its cash coming in from co-branded credit card and other partners grow by about 10% annually. Southwest Airlines climbed 3.4% after saying it’s seeing stronger demand from leisure travelers than it expected. It also raised its forecast for revenue for the holiday traveling season. On the losing end of Wall Street was Synposys, which tumbled 12.1%. The supplier for the semiconductor industry reported better profit for the latest quarter than analysts expected, but it also warned of “continued macro uncertainties” and gave a forecast for revenue in the current quarter that fell short of some analysts’ estimates. American Eagle Outfitters fell even more, 15.3%, after the retailer said it’s preparing for “potential choppiness” outside of peak selling periods. It was reminiscent of a warning from Foot Locker earlier in the week and raised more concerns about how resilient U.S. shoppers can remain. Solid spending by U.S. consumers has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A report on Thursday said the number of U.S. workers applying for unemployment benefits rose last week but remains at historically healthy levels. Expectations are high that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. In the bond market, the yield on the 10-year Treasury held steady at 4.18%, where it was late Wednesday. In stock markets abroad, indexes were mostly calm in Europe after far-right and left-wing lawmakers in France joined together to vote on a no-confidence motion prompted by budget disputes that will force Prime Minister Michel Barnier and his Cabinet to resign. The CAC 40 index in Paris added 0.4%. In South Korea, the Kospi fell 0.9% to compound its 1.4% decline from the day before. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night. He revoked the martial law declaration six hours later. Crude oil prices slipped after eight members of the OPEC+ alliance of oil exporting countries decided to put off increasing oil production. ___ AP Business Writers Yuri Kageyama and Matt Ott contrributed. Stan Choe, The Associated PressWATERTOWN, Mass. , Dec. 5, 2024 /PRNewswire/ -- 3D BioLabs LLC ("3D BioLabs" or "3DB"), has reached a pivotal milestone in the field of regenerative medicine as recently published in the Proceedings of the National Academy of Sciences . 3DB's study has demonstrated a new approach to creating large organs to solve the organ transplant shortage. Using 3D printing, computational fluid dynamics, and organ specific cells, their study demonstrated effective blood flow and cell viability and function within the model device, marking a significant advance toward a bioengineered liver replacement. The study was led by 3D BioLabs Scientific Founder Dr. Joseph P. Vacanti , the Distinguished John Homans Professor of Surgery at Harvard Medical School and Mass General Hospital. 3D BioLabs 3D printed device (3DPD) has been engineered to mimic native liver tissue structure by using fractal architecture to support both vascular anastomosis and hepatocyte function. The device features embedded portal-venous (PV) channels that enable continuous blood flow when implanted and hepatobiliary (HB) channels that support the viability of liver cells. Active perfusion of tissue scaffolds allows for improved oxygen and nutrient availability to increase cell density, further supporting the feasibility of the device as a functional liver tissue substitute. Dr. Vacanti said: "We are extremely pleased to reach this pivotal milestone in the development of functioning 3D printed organs, which furthers our mission of solving the long-standing issue of organ transplant shortages. With our recent study, we are one step closer to achieving an engineered alternative to liver transplantation, addressing critical organ shortages and helping patients in need." 3DB's proprietary technology builds upon decades of work in tissue engineering, beginning with the first patent in tissue engineering granted to Dr. Vacanti in 1988 and the Vacanti ear mouse in 1997. This milestone is supported by recent work implanting large and complex devices into pigs for as long as one week. For further details, visit 3DBioLabs.com . About 3D BioLabs: 3D BioLabs is comprised of scientists, engineers and visionary clinical scientists that aim to improve world health by providing man made organs for individuals suffering from organ failure and other complex problems of tissue loss. Our mission is the development of a platform technology that will result in sophisticated designs that allow for precise mimicry of what happens inside humans more closely than other systems, where decades of research have reached barriers based on organ size and complexity. View original content to download multimedia: https://www.prnewswire.com/news-releases/3dbiolabs-achieves-pivotal-milestone-in-development-of-3d-printed-liver-implant-302324302.html SOURCE 3D BioLabs
VENHUB GLOBAL, INC., A PROVIDER OF FULLY AUTONOMOUS AND ROBOTIC RETAIL SOLUTIONS, TO LIST ON NASDAQ
The federal government's proposed social media ban for under-16s has been unveiled in the parliament, with $50m in fines for big tech companies which don't comply – and an admission from Labor the new rules may require all Australians to hand over more of their personal data. But while the government has promised "robust" privacy protections for that extra information, and bans on social media giants using that data for other purposes, we still don't know exactly what kind of data people will have to hand over. The government instead is kicking that can to the big tech firms themselves, essentially asking Facebook, Snapchat and X to come up with their own systems instead. Here's what we know so far – and what questions still need to be answered. Which platforms will be targeted? The communications minister, Michelle Rowland, introduced the legislation on Thursday. She said the laws aren't meant to apply to messaging services, such as Facebook Messenger or WhatsApp, or online services like Kids Helpline. The laws will also give some exemptions to products used for educational purposes, such as YouTube or Google Classroom. The bill is introducing a new term – "age-restricted social media platforms" – into the Online Safety Act. This will apply to platforms such as TikTok, Facebook, Snapchat, Instagram and X, Rowland said – as well as message board Reddit. Specifically, the bill seeks to stop under-16s being "logged in" or having accounts on those services. Young people would still be able to view YouTube videos while being logged out of the platform, or view some Facebook pages used for a business in a logged-out state. For instance, the explanatory memorandum concedes some Facebook pages "such as the landing page of a business or service that uses social media as their business host platform" would be able to be viewed. Why is it needed? The government has raised major concerns about the mental health effects of social media on young people, including issues... Josh ButlerMatsoukas stopped 36 shots, but it was enough as the Huskies held on for a 2-1 non-conference victory over the Garnet Chargers to complete the two-game weekend series. The teams played to a 2-2 tie Friday, a game in which Union took a 2-0 lead into the third period. The Garnet Chargers won a nine-round shootout 2-1. St. Cloud State (10-5-3 overall) carried the momentum of Friday’s comeback into Saturday’s first period, firing 21 shots on Matsoukas, who didn’t play Friday. She stopped 20 of them. The only one that got by her was a Sofianna Sunderlin goal midway through the period. “We've gotten good goaltending all year, so we expected that [from Matsoukas],” Union head coach Tony Maci said on the ESPN+ postgame interview. “We've got to learn from this one and put it behind us and get back to ECAC [play]. Union (7-10-1) caught a break when an apparent Avery Farrell goal 2:23 into the second period was waved off after a video review challenge by Union that showed an offsides by St. Cloud State. But the Huskies scored with 7:06 left in the second when Avery Myers poked the puck off of defenseman Kendal Davidson’s stick in front of the Union net and went past Matsoukas. Meanwhile, Union’s offense was non-existent for most of the game. It had two shots on goal through two periods, and both came in the first period. The Garnet Chargers finished with a season-low nine shots on goal. “I thought we left our legs at home for probably a good 55 minutes there,” Maci said. “It’s a good thing Soph played well today, but we’ve got to find ways to come out with more legs on Saturday. “I think we ended up doing what we did last night, kind of the way that they finished. We allowed them to push the pace a little bit. We weren't moving our feet. We were doing too much watching, and that kind of carried over into the second.” With Matosukas out for an extra attacker, Union got a late power play and capitalized on it when Maddie Suitor put a pass from Maddie Leaney past goalie Sanni Ahola with 51.5 seconds left. Unfortunately for Union, it didn’t get another good scoring chance the rest of the way. Union will close out the 2024 portion of its schedule next weekend when it returns to ECAC Hockey play hosting Yale at 6 p.m. Friday and Brown at 3 p.m. Saturday. St. Cloud State 1 1 0 — 2 Union 0 0 1 — 1 First Period — 1, St. Cloud State, Sunderlin 3 (Promersberger, Sauriol), 9:32. Penalties — Mancy, Uni (hooking), 3:52; Bryant, SCS (hooking), 14:32. Second Period — 2, St. Cloud State, Myers 1, 12:54. Penalties — Bourque, Uni (interference), 3:41; Anick, SCS (hooking), 8:18; Bray, SCS (interference), 13:32. Third Period — 3, Union, Suitor 4 (Mauracher, Leaney), 19:08 (pp). Penalties — Promersberger, SCS (interference), 9:13; Davidson, Uni (roughing), 9:13; Kenttala, Uni (tripping), 12:27; Gentry, SCS (interference), 17:48. Shots on Goal — St. Cloud State 21-9-8 — 38. Union 2-0-7 — 9. Power-play opportunities — St. Cloud State 0 of 2; Union 1 of 4. Goalies — St. Cloud State, Ahola 6-2-1 (9 shots-8 saves). Union, Matsoukas 6-8-0 (38-36). A — 236. Referees — Zachary Dupree, Jason Engelhart. Linesmen — Alex Walsh, Linesman: Evan Ryan.Donald Trump is flogging 'signature edition' guitars for £8K to make extra cash
Beamer calls streaking Gamecocks CFP-worthy