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WITH more snow and subzero temperatures on the way, households across the country are facing further condensation problems. A regular autumn and winter problem, condensation is the accumulation of water droplets that form on a window when moist air comes into contact with a cold surface. 4 Condensation is a huge problem as the colder weather sweeps in Credit: Getty 4 Tackling condensation in your loft can help your whole house Credit: Alamy 4 Loft vents help to improve ventilation 4 Loft vents cost as little as £2.20 each Not only can this make an ugly mess, but the water droplets can also lead to the growth of mould . Windows are often colder than insulated walls too, so condensation is more likely to occur on them. Poorly insulated lofts can also lead to condensation, especially when the weather dips. With snow and ice making the problem worse, thousands of people have been taking to social media to seek advice to get rid of condensation while other savvy DIY enthusiasts have shared their favourite remedies. Read more in Fabulous SEALED DEAL Home owners praise game changing buy that ‘sucks up condensation in 55 SECONDS’ AIR ME OUT My council flat had awful condensation until I made 2 simple swaps And some people have revealed that a "simple but genius device" can help eliminate condensation - and keep it at bay for good. Loft vents cost as little as £2.20 each and can help increase ventilation in your attic space which then trickles down to affect the floors below. Posting on the Screwfix forum after installing them in his home, one DIY fan said: "After a couple of weeks, I went up to the loft to check and the condensation almost completely gone. "Very impressed as the felt lap vents seemed to be doing the job and was quite easy to install." Most read in Fabulous CASH VOW Nurse cancels £30k Scots fairytale wedding after 'rose-tinted glasses come off' MUM'S THE WORD 'Relatable' Coleen Rooney praised for how she deals with sons' misbehaving HEAT UP I tried 6 kinds of Primark PJ's to see which ones are warmest according to science CHOP SHOCK Mum left sobbing as 2-year-old son cuts & SUPERGLUES her hair as she sleeps Someone else chimed in: "I have 16 fitted, eight each side and two tile vents each side, I was a bit doubtful about them at first but it helped a lot and made a big difference," A third echoed: "Lap vents made a huge difference to our condensation in the loft. The more the merrier." I was fed up waking up to soaking windows each night - I solved the issue in hours thanks to a 79p Home Bargains item - they are now bone dry A fourth wrote: "These are a great low-cost solution to what could be a very expensive problem if untreated." "These are simple but brilliant devices, cured the condensation problem", gushed a fifth. Meanwhile, a sixth added: "Easy to install and an inexpensive way to deal with loft condensation. They have been installed for about a month and seem to be doing the job." If you have the spare cash, you can even invest in a dehumidifier to absorb stubborn moisture. A winter staple for many households, a dehumidifier works ''by drawing air from the room over a coil cooled to a very low temperature by a refrigeration system'', explained the experts at the Breathing Space . The water vapour then condenses on the cold surface and the water drips into the collection bucket underneath. Although you can buy the nifty winter gadget from many retailers, including Amazon, there's no need to fork out a fortune, as portable interior dehumidifiers can be snapped up for as little as 99p in Home Bargains. The ideal humidity range for a home should be between 40% and 60%. Read more on the Scottish Sun LOOKING UP I'm a four-time world champ but my eyesight is going so I've made crucial change ISLE SAY Stunning home with panoramic views for sale for just £135k - but there's a catch Anything below this range could lead to several problems such as respiratory discomfort, dry skin, and eyes. Anything above, can cause condesation or even mould growth. What is mould and how to get rid of it? Mould is more likely to grow during the winter months. Olivia Young, Product Development Scientist at Astonish revealed exactly why this is. "Unfortunately, mould is a common problem many people face during winter. It thrives in conditions that are warm and damp, so your bathrooms are likely to be the most affected place. "That said, during the colder months most rooms in your home could be vulnerable to mould growing. "This occurs primarily from condensation that builds up on your windows when you’ve got your radiators on. "If you think about it, when windows and doors are closed, there's not much chance for the air to circulate and the moisture to make a swift exit. "This build up is what can cause dreaded mould to make an appearance, especially in bathrooms, as it creates that warm and wet environment that is a breeding ground for mould. "If left untreated, not only is it unsightly but it can also pose a serious risk to your health, so it’s really important you treat it. "The key to tackle mould is to act fast. "Try to come into as little contact with it as you can. So, grab your gloves, tie up your hair and get to work to remove any signs of mould as soon as you notice them. "To keep mould at bay, there are some simple solutions you can introduce throughout home. "The first is keep it ventilated. Yes, even in the cold winter months try to leave your bathroom window open for at least 10/15 minutes post shower or bath. This will get rid of any excess moisture quickly preventing mould gathering. "If you’re having a repeat problem with mould in one particular area, it might be because the humidity levels are too high. You can get a dehumidifier that will help keep the levels low and reduce the risk of mould returning. "The golden rule to remember when dealing with mould is the quicker you can treat it, the better. If you leave it, it will only get worse so never ignore it! "To successfully get rid of mould every time, I recommend opting for the UK's No 1 Mould & Mildew Remover , that effectively removes mould and mildew stains almost instantly, with no scrubbing necessary."9-Year-Old Becomes CEO of Gabb, Kid-Safe Tech CompanyNone
The Swans stunned Pride Park into silence with less than two minutes on the clock when Zan Vipotnik sent a bullet past Jacob Widell Zetterstrom before Ronald slotted home his first of the season in the 14th minute. Cyrus Christie brought Tom Barkhuizen down inside the box and Nathaniel Mendez-Laing dispatched the resulting penalty to cut the deficit in half and, despite piling on the pressure, Derby succumbed to a second home defeat of the season. Williams told a press conference: “We started the game very well, we were good up until we scored the second goal then we lost the grip on the game and I thought Derby were the better team. “The next thing for us we have to be able to maintain that level throughout the game and we weren’t able to do that to be quite honest today. “They made it difficult, reacted very well after the second goal and didn’t go under, far from it.” Swansea leapfrogged their opponents into the top half of the table with their sixth win of the season and took three points back to south Wales following two last-minute defeats by Burnley and Leeds heading into the match. Williams added: “We’ve recently conceded late goals but they’re a very resilient group and we saw it out in the end. “We’ve dominated games a lot but probably failed to score when we’ve been that dominant and tonight we managed to score the goals when we were dominant. “We scored the goals at the right time today.” Derby had been unbeaten in their last three matches coming into this one but Paul Warne put defeat down to a poor start. He said: “We conceded two and didn’t get close enough, weren’t aggressive enough, not enough body contact and looked soft, that’s my fault. “Maybe I didn’t message it properly. Sometimes it doesn’t come down to shape and tactics but I thought that was what the difference was. “Credit Swansea for the win but after the 25 mins it looked like we would score. I really enjoyed it, that’s the truth. I had 70 minutes of a team giving everything, I don’t think we’ve had that many attempts in the Championship this season. “It’s a rude awakening, last year we would’ve won that 4-2.”The Gunners took two points out of Liverpool’s lead at the summit of the Premier League after Jurrien Timber and William Saliba struck in the second half – both from corners – to condemn Amorim to his first defeat as United boss. The hosts’ second-half strikes took their goals-from-corners tally to 22 since the start of last season – a statistic that is unmatched by any other team in the division. Asked if Arsenal are one of the best teams he has come up against on corners, Amorim replied: “If you follow the Premier League for a long time you can see that. “They are also big players and you see every occasion when (Gabriel) Martinelli and (Bukayo) Saka have one-on-ones, a lot of times they go outside and they cross, and they know that if the cross goes well, they can score, and if it is a corner they can score, too, so we have to be better on that. “You have seen in all Arsenal games that every team have had problems with that (corners). And the difference today was the set-pieces. “You see a goal and then the momentum changed, and it is really hard for us to take the full control of the game after that.” Timber leaned into Rasmus Hojlund at the front post before diverting Declan Rice’s set-piece into the back of Andre Onana’s net after 54 minutes to send Arsenal into the lead. Thomas Partey’s header from Saka’s corner then deflected in off Saliba’s shoulder with 17 minutes left. Arteta and the club’s set-piece guru Nicolas Jover embraced on the touchline as Amorim was left with his head in his hands. The Arsenal supporters cheered raucously every time they won a corner – landing 13 in all without reply. However, Arteta moved to play down the significance of Arsenal’s set-piece threat. “We need that, but we want to be very dangerous and very effective from every angle and every phase of play,” said Arteta. “Today we could have scored from open play like we did against West Ham and Sporting. Last year we scored the most goals in the history of this football club. “Not because of only set-pieces, but because of a lot of things that we have. We want to create individual and magic moments, too.” Arsenal’s win against United – the first time they have recorded four victories in a row against the Red Devils in the league – was their fourth in succession since the international break. They will head to Fulham on Sunday bidding to keep the momentum going. Arteta continued: “The will to win is there. We try our best to do that. We won four in a row, but it doesn’t matter. We have to go to Fulham now, try to be better than them and try win the game. “It’s every three days that we play. It’s a crazy schedule. We’re going to need everybody and to mentally be very strong.”
Canberra Raiders great Josh Papali'i is set to fight criminal allegations stemming from a drunken night out in Gungahlin earlier this year. Black Friday Sale Subscribe Now! Login or signup to continue reading All articles from our website & app The digital version of Today's Paper Breaking news alerts direct to your inbox Interactive Crosswords, Sudoku and Trivia All articles from the other regional websites in your area Continue The 32-year-old NRL prop did not front the ACT Magistrates Court on Thursday. But defence lawyer Tom Taylor appeared on his behalf to enter pleas of not guilty to charges of intimidating a territory public official and failing to leave a licensed premises. Only a week ago, the court heard Mr Taylor had sent representations to the territory's prosecuting office in an attempt to resolve the matter without a contested hearing. It now appears behind-the-scenes negotiations have fallen through and Papali'i will fight the allegations made against him. The defence lawyer asked for another court mention date early next year, during which time he said discussions with prosecutors could help narrow the case's issues and "may prevent a multi-day hearing". Josh Papali'i has pleaded not guilty. Picture by Keegan Carroll Mr Taylor told the court potentially six or seven police witnesses and at least five civilian witnesses were expected to give evidence. The alleged incident No details about the incident have been aired in open court but police charged the NRL veteran and his brother after extensive investigations. "About 3.10am on Monday, September 16, 2024, police responded to a call for assistance following reports that three men were behaving aggressively towards each other and staff, and throwing glasses within the licenced premises," an ACT Policing spokesperson said last month. MORE COURT AND CRIME NEWS : Drink-driver allegedly performed burnout in front of unmarked police car Teacher allegedly raped student in '90s, accused of tutoring without checks Corrections officer accused of threatening to kill, attempting to run over man "Upon arrival, police were further advised that the 32-year-old had been verbally abusive towards a staff member when the group were asked to leave. "When police engaged with the group and requested they leave the premises, the man was allegedly verbally abusive and threatening towards officers." Police allege the group left the premises and then re-entered before Papali'i attempted to further intimidate police. Papali'i played his 300th game for the Raiders this season and was named club person of the year. His case is set to return to court in February. Share Facebook Twitter Whatsapp Email Copy Tim Piccione Court reporter Tim is a journalist with the Canberra Times covering the ACT courts. He came to the nation's capital via the Daily Advertiser in Wagga. Contact: tim.piccione@canberratimes.com.au. Tim is a journalist with the Canberra Times covering the ACT courts. He came to the nation's capital via the Daily Advertiser in Wagga. Contact: tim.piccione@canberratimes.com.au. More from Canberra Raiders great denies intimidating police, set to fight charges in hearing 26m ago Gladiator II vs Wicked: How 'Glicked' is bringing back Barbenheimer buzz 1hr ago Council abruptly sacks chief, but it's 'business as usual', says mayor 2hrs ago No comment s We could ease cost-of-living pain on poorer households, but it would be awkward No comment s Authorities promise Thursday will be better, after MyWay+ rollout 'teething issues' No comment s Raiders tap into Storm success as coaching set-up reshuffled No comment s Newsletters & Alerts View all DAILY Your morning news Today's top stories curated by our news team. Also includes evening update. Loading... 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24X National Exchange Plans to be the First Exchange to Offer U.S. Equities Trading 23 Hours-Per-Day on Weekdays STAMFORD, Conn. , Nov. 27, 2024 /PRNewswire/ -- 24 Exchange announced today that it has received approval from the U.S. Securities and Exchange Commission to operate 24X National Exchange as the first national securities exchange in the U.S. that allows trading of U.S. securities 23 hours each workday. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange's ability to comply with the Securities Exchange Act. 24X National Exchange will be subject to the SEC's ongoing regulatory oversight and full range of investor protections. The new Exchange will enable retail and institutional customers anywhere in the world to trade in U.S. equities via broker-dealers who are approved members of 24X National Exchange. 24X National Exchange will be launched in two stages. A first stage will open in the second half of 2025, with the Exchange operating from 4:00AM ET to 7:00PM ET on weekdays. The second stage, which will launch once the conditions noted above are met, will offer trading in U.S. equities from 8:00PM ET on Sunday through 7:00PM ET on Friday . A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing. 24 Exchange CEO and Founder Dmitri Galinov said: "The SEC's approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years. Traders are most at-risk when the market is closed in their geographic location. 24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers." As the first national securities exchange approved by the SEC to operate 23 hours each weekday, subject to the conditions noted above, 24X National Exchange will initially focus on capturing the expanding demand in the APAC region for overnight liquidity in U.S. equities. The 24X National Exchange will run on a proven, state-of-the-art technology platform provided by MEMX Technologies. The new Exchange's executive team will place a high priority on enhancing client experience through continuous technology innovations and improvements. "With this historic SEC approval in place, we will build and operate a customer-driven Exchange that can rapidly align with market demands and adapt quickly to client feedback," Galinov added. "We look forward to bringing a superior trading experience to global customers. 24X National Exchange will deliver the cost efficiency, speed, resilience, and adaptability that the company's financial institutional customers have long come to expect." 24X National Exchange will close on U.S. market holidays, similar to the schedules maintained by the NYSE and Nasdaq. 24 Exchange through 24X Bermuda Limited, an affiliate of 24X National Exchange, will continue to offer FX NDFs, Swaps and Spot trading to institutional clients. Since its launch in 2019, 24 Exchange's multi-asset offering through a single trading interface has enabled clients to access increased liquidity at lower cost. About 24 Exchange 24 Exchange allows market participants to seamlessly exchange their exposures at the lowest possible cost. 24 Exchange's mission is to enable members to initiate the most cost-effective trades across a growing range of asset classes, 24 hours a day. 24 Exchange lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available at https://24exchange.com/ . Media Contact: Eric Andrus , KARV [email protected] Phone: +1 (212) 333-0275 SOURCE 24 Exchange
Nanjing, China, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Ostin Technology Group Co., Ltd. ("the Company") (Nasdaq: OST), a leading supplier of display modules and polarizers based in China, announced the results of an Extraordinary General Meeting held on November 26, 2024, at 10:00 a.m. Beiijng Time (November 25, 2024, at 9:00 p.m., U.S. Eastern time) at its executive office at Floor 1, Building F4, 1 Zidong Road, Qixia District, Nanjing, Jiangsu Province, China. At the Extraordinary General Meeting, shareholders of the Company: Approved and ratified the appointment of Audit Alliance LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2024, and authorized the Board and/or the Audit Committee to fix such independent registered public accounting firm’s annual compensation; approved the Company’s authorized share capital of US$500,000 divided into 4,991,000,000 Class A ordinary shares of a par value of US$0.0001 each, 8,000,000 Class B ordinary shares of a par value of US$0.0001 each and 1,000,000 preference shares of a par value of US$0.0001 each, be consolidated and divided at a share consolidation ratio of one (1)-for-ten (10) (the “Share Consolidation”); authorized the transfer agent and share registrar of the Company to update the listed register of members of the Company as may be necessary to reflect the Share Consolidation; and authorized the registered office provider of the Company to make any necessary filing with the Registrar of Companies in the Cayman Islands in connection with the Share Consolidation; Adopted the Third Amended and Restated Memorandum and Articles of Association of the Company as the memorandum and articles of association of the Company in substitution for and to the exclusion of the existing Second Amended and Restated Memorandum and Articles of Association of the Company in its entirety with immediate effect to reflect the Share Consolidation; authorized the registered office provider of the Company to make any necessary filing with the Registrar of Companies in the Cayman Islands in connection with the adoption of the Third Amended and Restated Memorandum and Articles of Association; and in respect of any and all fractional entitlements to the issued consolidated shares resulting from the Share Consolidation, authorized the Board to settle as they consider expedient any difficulty which arises in relation to the Share Consolidation, including but without prejudice to the generality of the foregoing: rounding up fractions of shares issued to or registered in the name of such shareholders of the Company following or as a result of the Share Consolidation to the nearest whole share, and/or capitalizing all or any part of any amount for the time being standing to the credit of any reserve or fund of the Company (including its share premium account and profit and loss account) whether or not the same is available for distribution and applying such sum in paying up unissued shares to be issued to shareholders of the Company to round up any fractions of shares issued to or registered in the name of such shareholders of the Company following or as a result of the Share Consolidation. About Ostin Technology Group Co., Ltd. Founded in 2010, the Company is a supplier of display modules and polarizers in China. The Company designs, develops, and manufactures TFT-LCD display modules in a wide range of sizes and customized sizes which are mainly used in consumer electronics, outdoor LCD displays, and automotive displays. The Company also manufactures polarizers used in the TFT-LCD display modules. For more information, please visit http://ostin-technology.com/index.html Forward-Looking Statement This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, underlying assumptions, and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's forecast on market trends; the Company's future business development; the demand for and market acceptance for new products; expectation to receive customer orders for new products; the anticipated timing for the marketing and sales of new products; changes in technology; the Company's ability to attract and retain skilled professionals; client concentration; and general economic conditions affecting the Company's industry and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov . The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For more information, please contact: Ostin Technology Group Co., Ltd. ir@austinelec.com Investor Relations: Janice Wang Wealth Financial Services LLC Phone: +86 13811768599 +1 628 283 9214 Email: services@wealthfsllc.com
Stock market today: Wall Street slips as technology stocks drag on the market NEW YORK (AP) — Stocks slipped as Wall Street closes out a holiday-shortened week. The S&P 500 fell 1.3% Friday and the the Dow Jones Industrial Average lost 418 points, or 1%. The Nasdaq composite is down 1.8%. Technology stocks were the biggest drag on the market. The S&P 500 is still headed for its second consecutive annual gain of more than 20%, the first time that has happened since 1997-1998. Energy was the best-performing sector as oil prices rose more than 1%. In Asia, stocks in South Korea fell after the main opposition party voted to impeach the country’s acting leader. 10 tips from experts to help you change your relationship with money in 2025 NEW YORK (AP) — As the calendar changes to 2025, you might be thinking about how to approach your relationship with money in the new year. Whether you’re saving to move out of your parents’ house or pay off student loan debt, financial resolutions can help you stay motivated. If you’re planning to make financial resolutions for the new year, experts recommend that you start by evaluating the state of your finances in 2024. Then, set specific goals and make sure they’re attainable for your lifestyle. An online debate over foreign workers in tech shows tensions in Trump's political coalition WEST PALM BEACH, Fla. (AP) — An online spat between factions of Donald Trump’s supporters over immigration and the tech industry has thrown internal divisions in the president-elect’s political movement into public display. The argument previews fissures and contradictory views his coalition could bring to the White House. The rift laid bare tensions between the newest flank of Trump’s movement — that is, wealthy members of the tech world who want more highly skilled workers in their industry — and people in Trump’s Make America Great Again base who championed his hardline immigration policies. A 9th telecoms firm has been hit by a massive Chinese espionage campaign, the White House says WASHINGTON (AP) — A top White House official says a ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans. Administration officials said this month that at least eight telecommunications companies, as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But Anne Neuberger, a deputy national security adviser, said Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. Most Americans blame insurance profits and denials alongside the killer in UHC CEO death, poll finds WASHINGTON (AP) — Most Americans believe health insurance profits and coverage denials share responsibility for the killing of UnitedHealthcare’s CEO — although not as much as the person who pulled the trigger. So says a new poll from NORC at the University of Chicago. It finds that about 8 in 10 Americans say that the person who committed the killing has “a great deal” or “a moderate amount” of responsibility for the Dec. 4 shooting of Brian Thompson. Still, some see suspect Luigi Mangione as a heroic figure. About 7 in 10 adults say coverage denials or health insurance profits also bear at least “a moderate amount” of responsibility for Thompson’s death. Another jackpot surpasses $1 billion. Is this the new normal? Remember this moment because it probably won’t last: A U.S. lottery jackpot is projected to soar above $1 billion, and that's still a big deal. Friday’s Mega Millions drawing is worth an estimated $1.15 billion. The prize has evoked headlines across the country, despite the nation's top 10 jackpots already having boasted billion-dollar payouts. Jonathan Cohen is the author of the book “For a Dollar and a Dream: State Lotteries in Modern America.” He says he expects jackpots to continue to grow in size. Larger payouts attract more media attention, increase ticket sales and bring in new players. How the stock market defied expectations again this year, by the numbers NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The benchmark index posted its first back-to-back annual gains of more than 20% since 1998. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn’t just Apple, Nvidia and the like. Bitcoin and gold surged and “Roaring Kitty” reappeared to briefly reignite the meme stock craze. Richard Parsons, prominent executive who led Time Warner and Citigroup, dies at 76 NEW YORK (AP) — Richard Parsons, one of corporate America’s most prominent Black executives who held top posts at Time Warner and Citigroup, has died. He was 76. Parsons died Thursday at his Manhattan home. He was diagnosed with multiple myeloma in 2015 and cited “unanticipated complications” from the disease for cutting back on work a few years later. Financial services company Lazard confirmed his death. Parsons was a longtime member of the company's board. His friend Ronald Lauder told The New York Times that the cause of death was cancer. Parsons stepped down Dec. 3 from the boards of Lazard and Lauder’s company, Estée Lauder, citing health reasons. He had been on Estée Lauder’s board for 25 years. Israel strikes Houthi rebels in Yemen's capital while the WHO chief says he was meters away JERUSALEM (AP) — A new round of Israeli airstrikes in Yemen has targeted the Houthi rebel-held capital of Sanaa and multiple ports. The World Health Organization’s director-general said Thursday's bombardment took place just “meters away” as he was about to board a flight in Sanaa. He says a crew member was hurt. The strikes followed several days of Houthi attacks and launches setting off sirens in Israel. Israel's military says it attacked infrastructure used by the Houthis at the airport in Sanaa, power stations and ports. The Israeli military later said it wasn’t aware that the WHO chief was at the location in Yemen. At least three people were reported killed and dozens injured in the Sanaa airport strike. Holiday shoppers increased spending by 3.8% despite higher prices New data shows holiday sales rose this year even as Americans wrestled with still high prices in many grocery necessities and other financial worries. According to Mastercard SpendingPulse, holiday sales from the beginning of November through Christmas Eve climbed 3.8%, a faster pace than the 3.1% increase from a year earlier. The measure tracks all kinds of payments including cash and debit cards. This year, retailers were even more under the gun to get shoppers in to buy early and in bulk since there were five fewer days between Thanksgiving and Christmas. Mastercard SpendingPulse says the last five days of the season accounted for 10% of the spending. Sales of clothing, electronics and Jewelry rose."Bleach: Brave Souls" Anime Broadcast Celebration Special: Christmas Zenith Summons: White Night to Begin Soon with Retsu, Nemu, and Others as New 5 Star Characters
For 36-year-old Farhan Pauzi, who spent time in prison for drug charges, securing a job was tough when he was released. SINGAPORE – More employers are giving former offenders a chance in the workplace, but social stigma remains a hindrance for some in their reintegration journey. The number of employers that have hired former offenders in partnership with Yellow Ribbon Singapore (YRSG) rose from 5,603 in 2019 to 6,516 in 2023. Close to 700 employers also benefited from a government scheme that was rolled out in April 2023, to offer firms that hire former offenders wage offsets for their first nine months on the job. Between April and December 2023, about $2 million was disbursed to these employers for hiring more than 1,500 former offenders as part of the Uplifting Employment Credit scheme, said the Ministry of Manpower (MOM) in response to queries from The Straits Times. While there seem to be more opportunities now for former offenders to gain employment after their release, other issues such as social stigma and personal challenges can affect how long they stay on. The career retention rate among former offenders who got a job with the help of YRSG has dropped over the years. The percentage of former offenders who remained employed for three months dropped from 87 per cent in 2020 to 79 per cent in 2023. Those who remained employed for six months also dipped from 70 per cent in 2020 to 60 per cent in 2023. YRSG told ST it does not have sufficient data to accurately identify the specific reasons behind the lower retention rates among employed former offenders. Challenges in gaining and retaining employment YRSG career coach Ashish Ben said former offenders may need more time to relearn old skills, which have become rusty, or learn new skills when returning to work after a long time in prison. Some employers may not have the capacity to give them time to gain proficiency due to operational and industry demands. Ingeus Singapore, an agency that offers career retention support to former offenders, said they may need a longer learning curve than a typical three-month adjustment period. The agency has eight career coaches dedicated to supporting former offenders, each managing an average caseload of 65 people. Mr Ashish said some former offenders may also have difficulty expressing themselves, and employers may mistake that for a lack of commitment or suitability for a role. They are also subject to more scrutiny, which may lead to quick assumptions. In one incident, a former offender was seen taking a white tablet when he arrived at work. During the day, he overheard a senior colleague commenting that he looked “stoned”. The company’s management, which heard about the incident, jumped to the conclusion that he might be using drugs. It was later discovered that the white pill was Panadol, recounted Mr Ashish. The former offender had taken it as he had been dealing with family issues that disrupted his sleep, and he wanted to alleviate a headache when he arrived at work. “A released ex-offender will leave the first physical prison and find himself entering a second social prison,” Mr Ashish said. “The stigma of incarceration might mean they are looked upon with suspicion.” For 36-year-old Farhan Pauzi, who spent time in prison for drug offences, securing a job was tough when he was released, as employers would turn him away when they learnt he was still under a supervision order, which requires former drug abusers to report for regular urine tests. One pest control company also rejected him as it was afraid his criminal record would affect his access to government offices that may hire its services. He managed to land a job months later with a carpark management company. “It gave me its trust and we had mutual respect. I finally felt like I met people who didn’t just judge me for my mistakes,” he said. “Having a stable job helped me to stay on the right track and not go back to prison.” The Industrial and Services Co-operative Society, a group that helps former offenders, said they may feel inherently “flawed” or “unworthy”, which creates a mental barrier when applying for jobs or prevents them from interacting with colleagues. For 35-year-old Hirzi (not his real name), being very careful about what he shares with colleagues is important to him. He was previously jailed for 10 months on drug-related charges, and considered lying about his past to secure a job. He decided to be honest with his managers about his history, but refrained from telling his colleagues. “One day, I asked some of them about what they thought of ex-offenders generally and got a negative response. I immediately knew I couldn’t tell them about my past as I felt some of them were not ready to work with an ex-offender.” Singapore After-Care Association director Prem Kumar said that despite the significant progress made in terms of societal acceptance, many former offenders will always be worried about how they are viewed by colleagues. “The desire to keep as low a profile as possible and hope that no one at work finds out about their past continues to hold true to this day,” he said. Overcoming negative perceptions For John (not his real name), his view of former offenders changed only after he himself was jailed for criminal breach of trust. “Before I went to prison, I was also someone who had a negative opinion of ex-offenders. I doubted that they could really be trusted,” said the 54-year-old. “But when I was inside (prison), you get to see how life is there, what their stories are, and that changed my perception a lot.” For John (not his real name), his view of ex-offenders shifted only after he himself was jailed for criminal breach of trust. ST PHOTO: LIM YAOHUI Chia & Thai Food Supplies director Samuel Koh said his company started employing former offenders in 2006 owing to a tight labour market. Hiring from traditional sources had been challenging, so it decided to tap the pool of candidates among former offenders, he said. “We were concerned about theft, violence, poor attitude and performance at work, but we recognised that these issues are not specific to ex-offenders,” he said. The company made efforts to ensure harmony between the former offenders and other employees, which included not mentioning the former offenders’ background at work. After 18 years, the company went from hiring two to three former offenders a year to hiring 12 to 15 now. Sociologist Julia Wong from the Singapore Institute of Technology said it can be challenging for the public to accept that society needs to help former offenders, and this includes taking personal action. “It is common to hear people saying, ‘Yes, we should help ex-offenders’, but when asked whether they would be willing to work or live with an ex-offender, the answer may be less encouraging,” she said. Among the small gestures one can make are treating former offenders like any other new colleague instead of prying into their past, and getting back in touch with them after their incarceration, she noted. “Society needs to recognise that ex-offenders have already paid their dues and served their punishment,” she said. “You’ll be surprised how such small acts can make a difference to another person’s life.” Join ST's WhatsApp Channel and get the latest news and must-reads. 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NEW YORK — Stocks fell broadly on Friday as Wall Street closed out a holiday-shortened week on a down note. The losses were made worse by sharp declines for the Big Tech stocks known as the “Magnificent 7”, which can heavily influence the direction of the market because of their large size. The S&P 500 fell 66.75 points, or 1.1%, to 5,970.84. Roughly 90% of stocks in the benchmark index lost ground, but it managed to hold onto a modest gain of 0.7% for the week. The Dow Jones Industrial Average fell 333.59 points, or 0.8%, to 42,992.21. The tech-heavy Nasdaq composite fell 298.33 points, or 1.5%, to 19,722.03. Semiconductor giant Nvidia slumped 2.1%. Microsoft declined 1.7%. Each has a market value above $3 trillion, giving the companies outsized sway on the S&P 500 and the Nasdaq. A wide range of retailers also fell. Amazon fell 1.5% and Best Buy slipped 1.5%. The sector is being closely watched for clues on how it performed during the holiday shopping season. Energy stocks held up better than the rest of the market, with a loss of less than 0.1% as crude oil prices rose. “There’s just some uncertainty over this relief rally we’ve witnessed since last week,” said Adam Turnquist, chief technical strategist for LPL Financial. The S&P 500 gained nearly 3% over a 3-day stretch before breaking for the Christmas holiday. On Thursday, the index posted a small decline. Despite Friday’s drop, the market is moving closer to another standout annual finish . The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than 20%, the first time that has happened since 1997-1998. The gains have been driven partly by upbeat economic data showing that consumers continued spending and the labor market remained strong. Inflation, while still high, has also been steadily easing. A report on Friday showed that sales and inventory estimates for the wholesales trade industry fell 0.2% in November, following a slight gain in October. That weaker-than-expected report follows an update on the labor market Thursday that showed unemployment benefits held steady last week. The stream of upbeat economic data and easing inflation helped prompt a reversal in the Federal Reserve’s interest rate policy this year. Expectations for interest rate cuts also helped drive market gains. The central bank recently delivered its third cut to interest rates in 2024. Even though inflation has come closer to the central bank’s target of 2%, it remains stubbornly above that mark and worries about it heating up again have tempered the forecast for more interest rate cuts. Inflation concerns have added to uncertainties heading into 2025, which include the labor market’s path ahead and shifting economic policies under incoming President Donald Trump. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Amedisys rose 4.7% after the home health care and hospice services provider agreed to extend the deadline for its sale to UnitedHealth Group. The Justice Department had sued to block the $3.3 billion deal, citing concerns the combination would hinder access to home health and hospice services in the U.S.
Mexico City — Bluff? Negotiating tactic? Or existential menace? World leaders, economists and investors are struggling over how to view President-elect Donald Trump’s repeated threats to impose broad tariffs on imports to the United States. That question took on new urgency this week when Trump announced that he would hit the top three U.S. trading partners hard on his first day in office. In a post Monday on his Truth Social platform, Trump said he would levy a 25% tariff on goods from Canada and Mexico “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this invasion of our Country!” In another post, Trump threatened a 10% tariff on all goods from China, which he blamed for not doing enough to stop clandestine manufacture of the deadly synthetic opiate fentanyl — which U.S. authorities say is mostly produced in Mexico from chemicals imported from China. Trump’s posts were the most serious indication yet that he intends to follow through with his campaign pledge to impose sweeping tariffs — a move that economists warn could wreak havoc on global supply chains and hurt U.S. companies that rely on cross-border trade. Global markets, at least, appeared to take Trump’s latest threats seriously, with the currencies of Canada and Mexico falling against the dollar. At the same time, others held out hope that Trump may be using the threat of tariffs as a negotiating tactic before he returns to the White House. “There’s just a tremendous amount of uncertainty right now,” said Sofía Ramírez, an economist who heads México, ¿cómo vamos?, a research group. “No one knows what’s going to happen.” The anxiety is especially acute in Mexico, whose economy is largely built on its proximity to the massive U.S. consumer market. Mexico sends 83% of its exports to the U.S. Economists warn that even a small increase in tariffs on Mexico’s goods could lead to a rise in unemployment and poverty there — and prompt more people to migrate to the United States. Mexican President Claudia Sheinbaum had been saying for weeks that officials were planning to meet with Trump’s team in a bid to dissuade him from proceeding with tariffs. But her government was clearly blindsided by his announcement. At her news conference Tuesday, Sheinbaum avoided direct criticism of Trump but warned of retaliatory levies by Mexico on U.S. products entering the Mexican market. “One tariff would be followed by another in response, and so on until we put at risk common businesses,” she said. Mexican officials plan to rally support among both U.S. and Mexican investors and industrialists to make the point that Trump’s tariff plans would hurt U.S. businesses and consumers. She singled out General Motors, one of a number of U.S. automotive companies producing vehicles in Mexico. Sheinbaum said she expects her government to reach an agreement with the U.S. But it was unclear what more concessions Mexico can give when it comes to Trump’s demands that it curb the illegal flow of narcotics and migrants to the United States. Reading from a letter she planned to send to Trump, Sheinbaum pointed out Mexico’s efforts to keep migrants from crossing the U.S. border, and said illegal border crossings have plummeted in recent months. While she said Mexico is taking steps to combat fentanyl smuggling, she laid blame for the crisis on the U.S. “Fundamentally it is a public health and consumption issue within your society,” she said. Sheinbaum also noted the illegal flow of arms from the U.S. into Mexico: “You must be aware that 70% of the illegal weapons seized from criminals in Mexico come from your country. We do not produce the weapons, we do not consume the synthetic drugs.” Mexico became the United States’ leading trading partner in 2023, with almost $800 billion in exports and imports. Like Mexico, China and Canada also responded quickly to Trump’s tariff announcement . “The economic and commercial cooperation between China and the United States is of a mutually beneficial nature,” the spokesman for the Chinese Embassy in Washington, Liu Pengyu, wrote on X. “No one will win a trade war.” Canada released a statement emphasizing the closeness of its relationship with Mexico, while Prime Minister Justin Trudeau called Trump hours after he announced the tariffs to talk about trade and border security. Mexico, China and Canada purchased more than $1 trillion in U.S. exports in 2023 and sent almost $1.5 trillion of goods and services in the other direction. Experts said Trump can unilaterally impose tariffs by claiming a national emergency, though he would almost certainly face legal and political challenges. It’s unclear how Trump could impose tariffs without violating the United-States-Mexico-Canada trade agreement that he helped negotiate during his first term. Mexico and Canada could challenge tariffs under a dispute resolution mechanism that is part of their agreement. They could also lodge complaints with the World Trade Organization. And on Tuesday, 10 House Democratic lawmakers representing Washington, California and other states introduced the Prevent Tariff Abuse Act , a bill to stop the president from imposing tariffs without congressional approval. But the most forceful pushback would probably come from the business community and financial markets. Auto manufacturers have spent decades building up complex and cost-efficient supply chains in which parts are transported back and forth across North American borders, and new tariffs will cause significant disruptions and almost certainly price increases to consumers. The ripple effects of trade skirmishes could lead to higher inflation and higher interest rates, risking a pullback from investors and sliding stock markets. Trump has often spoken of the stock market as a key barometer of his performance. “He wants his tariffs, but he doesn’t want to sink the market,” said Dean Baker, a senior economist at the Center for Economic and Policy Research in Washington. “He doesn’t want to tank the market, he doesn’t want to be unpopular, he doesn’t want inflation to go up. If the market starts to fall, he’ll listen to that.” Given those economic stakes, some have questioned whether Trump is simply using tariffs as a negotiating tactic. In his first term, Trump threatened to impose import levies against Mexico if it failed to crack down on U.S.-bound migrants. Mexico quickly caved, dispatching troops to turn back migrants headed for the United States. Trump’s pick for Treasury secretary, billionaire hedge fund manager Scott Bessent, has described tariffs as a powerful means of negotiation. “Tariffs are ... a useful tool for achieving the president’s foreign policy objectives,” he wrote in a recent opinion piece for Fox News. “Whether it is getting allies to spend more on their own defense, opening foreign markets to U.S. exports, securing cooperation on ending illegal immigration and interdicting fentanyl trafficking, or deterring military aggression, tariffs can play a central role.” He dismissed warnings by many economists who say that tariffs could trigger a trade war and inflation. It’s unclear what Mexico could give in negotiations. Since January, Mexican troops and agents have been detaining record numbers of migrants from Central and South America, Asia, Africa and elsewhere, arresting them on roads and in safe houses; pulling them from vehicles and freight trains; and catching them at airports and bus stations. Most are shipped back to southern Mexico, where many begin the trip north anew. However, experts said it would be impossible for Mexico to stop the flow completely along an almost 2,000-mile long border, much of which remains without barriers or a large presence of U.S. agents. Trump’s demands “show a fundamental disconnect from the realities of the border, of immigration,” said Adriana Jasso, coordinator of the U.S.-Mexico border program in San Diego for the American Friends Service Committee. “This migration is not something that can be just stopped in 15 days, in two months, or in years. It’s a very complex problem, related to poverty in other countries and the needs of people seeking a better life.” Similarly, it is unclear what concessions Mexico could make on the issue of security. Critics said it was unrealistic to expect Mexico to shut down billion-dollar trafficking organizations that have been expanding their territories, rackets and power for years. Mexican trafficking organizations are also among the largest employers in Mexico, their payrolls bloated with gunmen, lab workers, logistics experts, and corrupt cops and officials. “It’s not realistic,” Mike Vigil, former head of international operations at the U.S. Drug Enforcement Administration, said of Trump’s demand. “What he is implying is that Claudia Sheinbaum and the Mexican government can just say: ‘We’re going to shut down drug trafficking now.’ It doesn’t work that way.” Linthicum reported from New York and McDonnell from Mexico City. Staff writer Don Lee in Washington and special correspondent Cecilia Sánchez Vidal in Mexico City contributed to this report .Christmas party lifts spirits of evacuated kids in Negros
Canada Prepares For Possible Trade War With US Amid Trump’s Threat of 25% TariffJPMorgan Chase & Co. stockThe “extensive” search for a 51-year-old man who fell off a cruise ship has come to an end without success, according to the cruise line. Norwegian Cruise Line was made aware that a passenger had fallen overboard around 3 p.m. on Thursday as the cruise ship was traveling from Ocho Rios, Jamaica to Nassau, according to the company. A search ensued. “The authorities were immediately notified, and a search and rescue operation under the guidance and oversight of the Bahamas Rescue Coordination Center went underway,” a spokesperson for Norwegian Cruise Line told The Independent in a statement. “After an extensive search that was unfortunately unsuccessful, the ship was released by the authorities to continue its voyage,” the spokesperson continued. It’s not immediately clear how the man fell off the ship. Records suggest he was vacationing on a seven-day “Christmas-themed” cruise on the Norwegian Epic. After stops in Cozumel, Grand Cayman Island, Ocho Rios, and the Bahamas, the trip ends in Port Canaveral in Florida on December 28, according to Cruise Mapper . The man has not been identified but was traveling with a large group, including family members, who are being “attended to and supported during this very challenging situation,” the spokesperson said. “Our thoughts and prayers are with his loved ones during this difficult time.” Some passengers on board captured the rescue efforts and posted videos on social media. One user showed a flare on the water nearby and said the vessel had been making circles in the area in order to try to find the overboard passenger. Holland America Line’s Zuiderdam, another cruise ship, was nearby when the incident occurred and assisted with the search, according to CruiseHive .
UMass men’s basketball falls to rival UMass Lowell in Kennedy Cup match
Taoiseach Simon Harris has insisted he is not aware that any member of his team tried to get RTE to take down a viral social media clip of a much-criticised encounter with a disability care worker. The Fine Gael leader was asked about the controversy in the first question posed during the second and final TV leaders’ debate of Ireland’s General Election campaign. Mr Harris apologised over the weekend for his handling of the discussion with Charlotte Fallon while canvassing in Kanturk in Co Cork on Friday evening. READ MORE - McDonald clashes with Harris and Martin during final leaders' debate READ MORE - Simon Harris admits RTÉ was offered 'statement' to go with viral video of exchange with upset carer The Taoiseach was accused of dismissing concerns that Ms Fallon raised about Government support for the disability sector during the exchange filmed by RTE in a supermarket. Mr Harris rang Ms Fallon on Saturday and said he unreservedly apologised for the way he treated her, however focus has since shifted to Fine Gael’s interactions with the national broadcaster about the social media video. At the outset of Tuesday’s TV debate, co-host Miriam O’Callaghan directly asked the Fine Gael leader whether a member of his party contacted RTE to ask for the clip to be taken down. “I have no knowledge of that whatsoever, because this clip was entirely appropriate,” said Mr Harris. “It was a very important moment on the campaign. “And RTE and indeed many media outlets have been with me throughout the campaign, covering many interactions that I’ve had with many, many people right across this country.” The Taoiseach said the approach by his team member was part of the “normal contact that happens between party politics and broadcasters on a daily basis”. Mr Harris’s partner-in-government in the last coalition, Fianna Fail leader Micheal Martin, said he was not aware of the approach to RTE by Fine Gael. “I didn’t realise this had happened,” he said. “I think Simon has given his explanation to it. I’m not sure it’s as normal or as usual. I just get on with it every day. But, again, I think, you know, I’m not au fait with the details behind all of this, or the background to it. “The video didn’t come down, and it was seen by many, many people. “And I think it illustrates that out there, there are a lot of people suffering in our society. “Notwithstanding the progress we’ve made as a country, a lot of people are facing a lot of individual challenges, and our job as public representatives and as leaders in travelling the country is to listen to people, hear their cases, to understand the challenges that they are going through in their lives. “And when we go about in election campaigns, we have to open up ourselves to criticism and to people calling us to account.” Sinn Fein leader Mary Lou McDonald had earlier in the day described reports of the Fine Gael approach to RTE as “chilling”. However, at the start of the debate, she was asked about a media-focused issue related to her own party, namely the controversial manifesto proposal for an independent expert review of RTE’s objectivity in its coverage of the war in Gaza and other international conflicts. Mr Harris previously branded the proposal a “dog whistle to conspiracy theorists” while Mr Martin said it was a “dangerous departure”. Ms McDonald defended the idea during the RTE Prime Time debate on Tuesday. “Politics and politicians should not try to influence editorial decisions or try and have clips taken down because they are inconvenient to them,” she said. “There has to be distance, there has to be objectivity. But I would say I am struck by the very defensive reaction from some to this (the review proposal). “The BBC, for example, a peer review looked at their coverage on migration. Politicians didn’t put their hands on it, and rightly so. “I think in a world where we have to rely on quality information, especially from the national broadcaster, which is in receipt of very substantial public funding, that has to be the gold standard of reliability. I think peer reviews like that are healthy.” It comes as Sinn Féin leader Mary Lou McDonald said on Tuesday before the debate that "Micheál Martin is absolutely determined to put Fine Gael back in government”. “I can't fathom that,” she said. “I think, by any measure, if you're actually listening to people out on the ground in the course of this campaign, people are telling everybody that they are struggling, that they are suffering, in many instances, that they are left behind. “Some feel very betrayed by the government, particularly younger people.” Clare Daly, an independent candidate in Dublin Central, stated on Tuesday during a press conference in the Clonliffe House pub that the “idea of a left alliance and Sinn Féin being involved in that alternative government is something that should definitely be explored”. She said: “That’s very strongly the view we’re getting on the doorsteps, that people want a change. “Sometimes change is presented as something to be feared. ‘Oh if we take that step, will it be worse off?’ “But many people are already in that place now, where they say, “Well, we can't be worse off’.” Ms Daly also defended herself following criticism of her stance on the Russia-Ukraine war. She argued that her position on the war in “Ukraine and Palestine are identical” and she wants a “ceasefire and a negotiated settlement”. She also stated that Sinn Féin is now saying the same as its manifesto calls for a “coordinated and concerted effort” to “secure an end to the hostilities”. She added: “I’m never called a Netanyahu puppet. I’m called a Putin puppet. “I have voted for every single resolution to condemn Russia's invasion of Ukraine, to respect the territorial integrity of that country, and to argue for a negotiated settlement, which means the people of Ukraine and the people of Russia or their governments deciding.” Elsewhere, Green Party leader Roderic O’Gorman stated that a “government propped up by Independent TDs could be a “recipe for absolute chaos”. He warned of the consequences of having what he described as “right-wing independents” making up the government formation after Friday’s election. Elsewhere, Fine Gael’s Paschal Donohoe was forced to do a U-turn on appearing on a television debate. Sinn Féin’s Pearse Doherty accused Mr Donohoe of “chickening out” of the debate. Ms Donohoe’s spokeswoman initially did not refute suggestions he was not taking part in the debate. She later said: “There was a mix-up, on our side, in terms of the scheduling of the debate, which has now been rectified. Minister Donohoe glad to be able to debate the economy on [Tuesday night’s] show. Join the Irish Mirror’s breaking news service on WhatsApp. Click this link to receive breaking news and the latest headlines direct to your phone. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice .
Global Ship Recycling Market Remains Subdued
PFTA stock touches 52-week low at $10.33 amid market shifts
The holiday season isn't prime time for the housing market. Fewer people buy and sell homes in the winter months, leading to a decline in home loan applications. Furthermore, mortgage rates have reached their highest levels in weeks. Following the Federal Reserve's third interest rate cut at its December policy meeting, the average 30-year fixed rate jumped back up to its November high of around 7%. Though the Fed influences the direction of overall borrowing rates, it doesn't directly control the mortgage market . Mortgage rates are driven by investor expectations and move with the yield on the 10-year Treasury, with numerous factors affecting the bond market. For mortgage rates to reverse their upward trend, bond market investors would have to be convinced that the economy is cooling. Until there's proof that inflation is easing and the job market is softening, mortgage rates will stay elevated in the near term. The Fed is projecting a slower pace of rate cuts over the course of 2025 , which will likely keep average rates somewhat volatile, fluctuating between 5.75% on the low end and 7.25% on the high end, according to HousingWire's 2025 forecast . Read more : 2025 Mortgage Rate Forecast Why are mortgage rates higher after the Fed's rate cut? The recent surge in longer-term Treasury yields and home loan rates was due in large part to the Fed's newly updated Summary of Economic Projections , outlining expectations for just two 0.25% interest rate cuts in 2025, down from four previously. To maintain maximum employment and contain inflation, the Fed assesses economic data to determine whether to raise or lower its benchmark short-term interest rate. Investors care about the Fed's future outlook for rate adjustments because it determines their trading strategy and risk assessment. This month, markets heavily weighed Fed Chair Jerome Powell's concerns about inflation reigniting and President-elect Donald Trump's tax and tariff proposals . Powell conveyed a more conservative tone about future policy changes: "When the path is uncertain, you go a little bit slower." Taking cues from "a more hawkish Fed," prices in the bond and stock market quickly plunged, according to Matt Graham of Mortgage News Daily. Hawkish monetary policy tends to be more restrictive, relying on higher interest rates to keep inflation in check. Though the Fed pivoted to cutting interest rates back in September, it's wary of easing them too quickly only to see progress on inflation stall or reverse course entirely. Experts say the Fed is likely to hold off on additional reductions until March or even later. Where are mortgage rates going in 2025? Although experts optimistically predicted rates would fall close to 6% by the end of 2024, projections have changed significantly. Fannie Mae now expects average 30-year fixed mortgage rates to hold above 6.5% until early 2025. "If the Fed does end up only cutting twice next year, it's possible mortgage rates will stay pretty similar to where they are now," said Chen Zhao , head of economic research at Redfin. Aside from the normal day-to-day volatility, mortgage rates will stay above 6% for a while. That may seem high compared with the recent 2% rates of the pandemic era. But experts say getting below 3% on a 30-year fixed mortgage is unlikely without a severe economic downturn. Since the 1970s, the average rate for a 30-year fixed mortgage has been around 7%. Given a new administration, changes in the geopolitical outlook and a risk of inflation rebounding, forecasts could change again over the coming months. Future rate movement depends on an array of factors, including: Trump's economic policies: Trump's proposals for tax cuts and tariffs are a big wild card for mortgage rates. Experts say such moves could stimulate demand, increase deficits and push inflation back up. That could prompt the Fed to delay future rate reductions, which in turn would keep home loan rates high. 10-year Treasury yields: Average 30-year fixed mortgage rates closely track bond yields, specifically 10-year Treasury yields. If inflation and labor data continues to be strong, bond yields and mortgage rates will go up. The opposite will happen if unemployment rises or inflation cools and the Fed continues cutting rates. Geopolitical situations: Mortgage rates are also impacted by geopolitical events, including military conflicts and elections. Political instability can lead to economic uncertainty, which can result in more volatility with bond yields and mortgage rates. Potential curveballs: Bond investors often act in anticipation of what they believe will happen in the economy. For example, if the expectation is for unemployment to increase, bond yields and mortgage rates will fall. But if the outcome doesn't match market expectations, yields can quickly swing higher or lower. Other unknowns: Though Trump's policies have led to expectations of higher inflation and budget deficits, there's still a lot of uncertainty surrounding the timing and substance of economic changes. Campaign promises rarely mirror the policies that end up being implemented, and it's impossible for investors to predict how big the gap between the two will be. What else is happening in the housing market? Today's unaffordable housing market results from high mortgage rates, a long-standing housing shortage , expensive home prices and a loss of purchasing power due to inflation. 🏠 Low housing inventory : A balanced housing market typically has five to six months of supply. Most markets today average around half that amount. Although we saw a surge in new construction in 2022, according to Zillow , we still have a shortage of around 4.5 million homes. 🏠 Elevated mortgage rates : At the start of 2022, mortgage rates were near historic lows of around 3%. As inflation surged and the Fed began hiking interest rates to tame it, mortgage rates roughly doubled within a year. In 2024, mortgage rates are still high, effectively pricing millions of prospective buyers out of the housing market. That's caused home sales to slow , even during typically busy home-buying months, like the spring and early summer. 🏠 Rate-lock effect : Since the majority of homeowners are locked into mortgage rates below 6%, with some as low as 2% and 3%, they're reluctant to sell their current homes since it would mean buying a new home with a significantly higher mortgage rate. Until mortgage rates fall below 6%, homeowners have little incentive to list their homes for sale, leaving a dearth of resale inventory. 🏠 High home prices : Although home buying demand has been limited in recent years, home prices remain high because of a lack of inventory. The median US home price was $434,568 in September, up 5.1% on an annual basis, according to Redfin. 🏠 Steep inflation : Inflation increases the cost of basic goods and services, reducing our purchasing power. It also impacts mortgage rates: When inflation is high, lenders typically set interest rates on consumer loans to compensate for the loss of purchasing power and ensure a profit. Should you wait or buy now? It's never a good idea to rush into buying a home without knowing what you can afford, so establish a clear homebuying budget. Here's what experts recommend before purchasing a home: 💰 Build your credit score . Your credit score is one of the main factors lenders consider when determining whether you qualify for a mortgage and at what interest rate. Working toward a credit score of 740 or higher will help you qualify for a lower rate. 💰 Save for a bigger down payment . A larger down payment will allow you to take out a smaller mortgage and get a lower interest rate from your lender. If you can afford it, making a down payment of at least 20% will also eliminate the need for private mortgage insurance. 💰 Shop around for mortgage lenders . Comparing loan offers from multiple mortgage lenders can help you negotiate a better rate . Experts recommend you get at least two to three loan estimates from different lenders before making a decision. 💰 Consider the rent vs. buy equation . Choosing to rent or buy a home isn't just comparing monthly rent to a mortgage payment. Renting offers flexibility and lower upfront costs, but buying allows you to build wealth and have more control over your housing costs. The best choice depends on your finances, lifestyle and how long you plan to stay in one place. 💰 Consider mortgage points . One way to get a lower mortgage rate is to buy it down using mortgage points . One mortgage point equals a 0.25% decrease in your mortgage rate. Generally, each point will cost 1% of the total loan amount. More on today's housing marketNEW YORK (AP) — Greg Gumbel, a longtime CBS sportscaster, has died from cancer, according to a statement from family released by CBS on Friday. He was 78. “He leaves behind a legacy of love, inspiration and dedication to over 50 extraordinary years in the sports broadcast industry; and his iconic voice will never be forgotten,” his wife Marcy Gumbel and daughter Michelle Gumbel said in a statement. In March, Gumbel missed his first NCAA Tournament since 1997 due to what he said at the time were family health issues. Gumbel was the studio host for CBS since returning to the network from NBC in 1998. Gumbel signed an extension with CBS last year that allowed him to continue hosting college basketball while stepping back from NFL announcing duties. In 2001, he announced Super Bowl XXXV for CBS, becoming the first Black announcer in the U.S. to call play-by-play of a major sports championship. David Berson, president and CEO of CBS Sports, described Greg Gumbel as breaking barriers and setting standards for others during his years as a voice for fans in sports, including in the NFL and March Madness. “A tremendous broadcaster and gifted storyteller, Greg led one of the most remarkable and groundbreaking sports broadcasting careers of all time,” said Berson. Gumbel had two stints at CBS, leaving the network for NBC when it lost football in 1994 and returning when it regained the contract in 1998. He hosted CBS’ coverage of the 1992 and 1994 Winter Olympics and called Major League Baseball games during its four-year run broadcasting the national pastime. But it was football and basketball where he was best known and made his biggest impact. Gumbel hosted CBS’ NFL studio show, “The NFL Today” from 1990 to 1993 and again in 2004. He also called NFL games as the network’s lead play-by-play announcer from 1998 to 2003, including Super Bowl XXXV and XXXVIII. He returned to the NFL booth in 2005, leaving that role after the 2022 season.Warner Bros. Discovery Sued For Misleading Investors On NBA Before Losing It