PHILADELPHIA (AP) — Penn State has won a closely watched trademark fight over an online retailer's use of its vintage sports logos and images. A Pennsylvania jury awarded Penn State $28,000 in damages on Wednesday over products made and sold by Vintage Brand and Sportswear Inc., two firms co-founded by former minor league baseball player Chad Hartvigson. Penn State accused them of selling “counterfeit” clothing and accessories, while the defendants said their website makes clear they are not affiliated with the university. At least a dozen other schools have sued the defendants on similar grounds, including Purdue, Stanford and UCLA, Penn State said in its 2021 lawsuit. However, the Penn State case was the first to go to trial and seen by some as a test case in the sports merchandising industry. “It addresses an important issue with trademark law — whether or not the mark owner is able to prevent third parties from using its marks on T-shirts and paraphernalia without permission,” said Tiffany Gehrke, a trademark lawyer in Chicago who was not involved in the case. The verdict, she said, maintains the status quo, while a victory for Vintage Brand “could have shaken things up.” It followed a six-day trial in federal court in Williamsport, Pennsylvania, overseen by Chief U.S. District Judge Matthew W. Brann. Defense lawyers declined to comment on the verdict and whether their clients planned to appeal. Penn State, in a statement, called its trademarks “critical” to the school's brand, and said it was grateful for the verdict. “The university appreciates this result as it relates to the many hundreds of licensees with whom the university works and who go through the appropriate processes to use Penn State’s trademarks," the statement said. Founded in 1855, Penn State adopted the Nittany Lion as its mascot in 1904 and has been using various images of the animal, along with the school's seal and other logos, for decades, the lawsuit said. The school now has more than 100,000 students at 24 campuses.As the Nasdaq closes at a new record, the Dow has now fallen for 8 consecutive days BOC's Macklem:In the future the world is set to be more prone to shocks than we would like Canada will name Dominic Leblanc as new finance minister New Zealand November median house price -0.5% MoM This could finally be the end of Justin Trudeau WTI crude oil futures settled at $70.71 Coalition partner calls on Canadian Prime Minister Trudeau to resign China ramps up talk on consumer subsidies European major indices close mostly lower. Spain's Ibex rises 0.23% Bitcoin rises to yet another new record. High extends to $107,144 ECB Schnabel: We should proceed with caution remain data dependent Trump: Masayoshi Son announces $100B investment in the US over 4 years German's Chancellor Scholz lost no-confidence vote. Paves way for snap election ECBs Wunsch:There is a relative concensus that rates need to go close to neutral level. Canada finance minister Chrystia Freeland resigns from cabinet. Mark Carney next? US December Empire Fed +0.2 vs +10.0 expected Canada November housing starts 262.4K vs 245.1K expected ForexLive European FX news wrap: Major currencies little changed amid mixed markets Markets: Gold rose $5.18 or 0.20% at 2652.50 Silver fell -$0.03 or -0.12% at $30.51 WTI crude oil fell -$0.71 or -1.00% at $70.58 Bitcoin soared to another record level with the price trading at $106,199 up $1,772 but still off the high from the day at $107,821. US yields were mixed after rising each day yesterday 2 year yield 253% up 0/4 bps. 10-year yields 4.403%, up 0.2 bps 30 year yield 4.604%, unchanged The US stock indices were mixed today with the Dow falling for the 8th day in a row. The Nasdaq closed at a record level: Dow industrial average fell -110.58 points or -0.25% at 43717.48 S&P index rose 22.9 points or 0.38% at 6074.08 NASDAQ index rose 247.17 points or 1.24% at 20173.89 In the forex, the major indices were mixed on the day. The USD was the strongest vs the JPY (by 0.37%) and weakest vs the GBP (-0.60%) and NZD (-0.48%). The DXY was down -0.11% on the day overall : Fell -0.14% vs the EUR Fell -0.60% vs the GBP Rose 0.37% vs the JPY Rose 0.29% vs the CHF Rose 0.11% vs the CAD Fell -0.16% vs the AUD Fell -0.48% vs the NZD Fundamentally, Pres. elect Trump announced a $100B investment over 4 years by Masayoshi Son and the Softbank Group that will create 100K jobs. The announcement gave stocks a boost as the flow of investment funds continues to favor the US and the technology innovation. The Empire Fed manufacturing index came in at +0.2% which was lower than the 10.0 expected. The decline was quite a drop from 31.2 but the prior month is looking like it was a big outlier, perhaps related to the election. The good news for the Fed was that pricing indications are declining the bad news is that new orders are at a six-month low. Another notable rise is in inventories, which rose at the highest pace since early 2023 while the future measure of inventories is the highest since early 2022; both likely on stockpile building ahead of potential tariffs. In other data, the latest Flash US S&P Global PMI data showed mixed results. The Services PMI surged to 58.5 (vs. 55.7 expected), marking a 38-month high and up from 56.1 previously. The Composite PMI also rose to 56.6 , a 33-month high, compared to 54.9 prior. However, the Manufacturing PMI disappointed, falling to 48.3 (vs. 49.7 prior), hitting a 3-month low. On the inflation front, overall price pressures cooled , with service sector inflation dropping to a 4.5-year low . In contrast, manufacturing saw input costs spike to a 2-year high . Additionally, supplier delivery times are lengthening again, signaling further strain in the supply chain. it will be interesting to see how the Trump manufacturing mandates will impact the manufacturng indices going forward with most of the US economy be service-oriented. Technically, EURUSD: THe EURUSD remains just below its 200 hour MA at 1.05252. The price is currently trading at 1.0510 going in to the close. That MA has been a ceiling for the pair going back to last Tuesday (with 7 separate tests). Staying below, keeps the sellers in control Move above and their should be more upside probing with the 38.2% of the November range at 1.05628 as the next target GBPUSD: The GBPUSD traded higher form most of the day after better data today. The price extended above a swing area up to 1.2676 but stalled ahead of the 100 hour MA near 1.2700. That is also near the 38.2% of the move down from the November high. The 1.2700 level will be the key barometer in the new trading day. USDJPY: The USDJPY traded to the highest level since November 26 on the better PMI data, but could not sustain upside momentum. The price rotated lower off the highs but will need to go below 153.88 and then the 61.8% at 153.647 to give the sellers more confifence. However, a move below the swing area at 153.28 to 153.46 to really disappoint the buyers and put the sellers more in control. AUDUSD: The AUDUSD tested the falling 100-hour MA on the topside but could not sustain upside momentum. That MA comes in at 0.6373 and will need to be broken to increase the bullish bias. A move above that will still have the 200 hour MA at 0.6398 to get to and thrrough to give the buyers more control and confidence. Absent that, and the sellers are still in play. NZDUSD: The NZDUSD is also testing its falling 100-hour MA on the topside. That MA on the NZDUSD comes in at 0.57794. Get and stay above is needed to target the swig level at 0.5797 and then the 200-hour MA at 0.58145. Fail on getting above those levels keeps the sellers in firm control.
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MITT launches new programs in cybersecurity and health care
Alex Jones’ bankruptcy judge orders new hearing on The Onion’s Infowars bid
By ROB GILLIES TORONTO (AP) — Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products, a senior official said Wednesday. Trump has threatened to impose tariffs on products from Canada and Mexico if the countries don’t stop what he called the flow of drugs and migrants across southern and northern borders. He said he would impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders. A Canadian government official said Canada is preparing for every eventuality and has started thinking about what items to target with tariffs in retaliation. The official stressed no decision has been made. The person spoke on condition of anonymity as they were not authorized to speak publicly. When Trump imposed higher tariffs during his first term in office, other countries responded with retaliatory tariffs of their own. Canada, for instance, announced billions of new duties in 2018 against the U.S. in a tit-for-tat response to new taxes on Canadian steel and aluminum. Many of the U.S. products were chosen for their political rather than economic impact. For example, Canada imports $3 million worth of yogurt from the U.S. annually and most comes from one plant in Wisconsin, home state of then-House Speaker Paul Ryan. That product was hit with a 10% duty. Another product on the list was whiskey, which comes from Tennessee and Kentucky, the latter of which is the home state of then-Republican Senate leader Mitch McConnell. Trump made the threat Monday while railing against an influx of illegal migrants, even though the numbers at Canadian border pale in comparison to the southern border. The U.S. Border Patrol made 56,530 arrests at the Mexican border in October alone — and 23,721 arrests at the Canadian one between October 2023 and September 2024. Canadian officials say lumping Canada in with Mexico is unfair but say they are happy to work with the Trump administration to lower the numbers from Canada. The Canadians are also worried about a influx north of migrants if Trump follows through with his plan for mass deportations. Trump also railed about fentanyl from Mexico and Canada, even though seizures from the Canadian border pale in comparison to the Mexican border. U.S. customs agents seized 43 pounds of fentanyl at the Canadian border last fiscal year, compared with 21,100 pounds at the Mexican border. Related Articles National Politics | Trump selects longtime adviser Keith Kellogg as special envoy for Ukraine and Russia National Politics | Trump’s tariffs in his first term did little to alter the economy, but this time could be different National Politics | Trump transition says Cabinet picks, appointees were targeted by bomb threats, swatting attacks National Politics | Southwest states certify election results after the process led to controversy in previous years National Politics | Political stress: Can you stay engaged without sacrificing your mental health? Canadian officials argue their country is not the problem and that tariffs will have severe implications for both countries. Canada is the top export destination for 36 U.S. states. Nearly $3.6 billion Canadian (US$2.7 billion) worth of goods and services cross the border each day. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports are from Canada. Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for and investing in for national security. “Canada is essential to the United States’ domestic energy supply,” Deputy Prime Minister Chrystia Freeland said. Trump has pledged to cut American energy bills in half within 18 months, something that could be made harder if a 25% premium is added to Canadian oil imports. In 2023, Canadian oil accounted for almost two-thirds of total U.S. oil imports and about one-fifth of the U.S. oil supply. Prime Minister Justin Trudeau is holding a emergency virtual meeting on Wednesday with the leaders of Canada’s provinces, who want Trudeau to negotiate a bilateral trade deal with the United States that excludes Mexico. Mexican President Claudia Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.”National writer boldly proposes Texas QB Arch Manning to stay the backup because of wild theory on Longhorns starter Quinn Ewers | Sporting News
LOS ANGELES — Londynn Jones scored 15 points, making all five of her 3-pointers, and fifth-ranked UCLA stunned No. 1 South Carolina 77-62 on Sunday, ending the Gamecocks' overall 43-game winning streak and their run of 33 consecutive road victories. The Gamecocks (5-1) lost for the first time since April 2023, when Caitlin Clark and Iowa beat them in the NCAA Tournament national semifinals. Te-Hina Paopao scored 18 points and Tessa Johnson scored 14 for the Gamecocks, whose road winning streak was third-longest in Division I history. It was the first time UCLA took down a No. 1 team in school history, having been 0-20 in such games. The program's previous best wins were over a couple of No. 2s — Oregon in 2019 and Stanford in 2008. Elina Aarnisalo added 13 points as one of five Bruins in double figures. UCLA (5-0) dominated from start to finish, with the Bruins' suffocating defense preventing the Gamecocks from making any sustained scoring runs. South Carolina: The Gamecocks trailed by double-digits at halftime for the first time since Dec. 21, 2021, against Stanford, according to ESPN. Chloe Kitts, who averages a team-leading 14 points, finished the game with 2 points on 1 of 7 shooting. UCLA: The Bruins led 43-22 at halftime. Eight different players scored and contributed to 11-0 and 7-0 runs in the first and second quarters as they shot 52% from the field. The first quarter set the tone for a game in which the Gamecocks never led. They missed their first nine shots and were 4 of 18 from the floor in the quarter. UCLA ran off 11 straight points to take a 20-10 lead into the second quarter. The Bruins dominated the boards, 41-34, and held the Gamecocks well under their scoring average of 80.2 points. South Carolina travels to Florida to meet Iowa State in the Fort Myers Tipoff on Thanksgiving. UCLA travels to the Rainbow Wahine Showdown in Hawaii to play UT Martin on Friday.