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NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund’s common shares as summarized below. The distributions are payable on January 2, 2025 to shareholders of record on December 12, 2024, with an ex-dividend date of December 12, 2024. Fund Distribution Information as of October 31, 2024: Distribution rates are not performance and are calculated by annualizing the current distribution per share announced in this press release and dividing by the NAV or Market Price, as applicable, as of the reported date. A Fund’s distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance, and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in a Fund’s distribution rate at a future time. Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (“ROC”) of your investment in a Fund. Because the distribution rate may include a ROC, it should not be confused with yield or performance. Average Annual Total Returns Based on NAV and Market Price (“MKT”) of Common Shares as of October 31, 2024: Performance for periods of more than one year is annualized. Past performance is not a guarantee or a reliable indicator of future results. There can be no assurance that a Fund or any investment strategy will achieve its investment objectives or structure its investment portfolio as anticipated. An investment in a Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Shares may be worth more or less than original purchase price. Due to market volatility, current performance may be lower or higher than average annual returns shown. Returns are calculated by determining the percentage change in net asset value (“NAV”) or market price (as applicable) of the Fund’s common shares in the specific period. The calculation assumes that all dividends and distributions, if any, have been reinvested. NAV and market price returns do not reflect broker sales charges or commissions in connection with the purchase or sales of Fund shares and includes the effect of any expense reductions. Returns for a period of less than one year are not annualized. Returns for a period of more than one year represent the average annual return. Performance at market price will differ from results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about a Fund, market conditions, supply and demand for a Fund’s shares or changes in Fund dividends and distributions. Additional Information Distributions from PMF, PML, PMX, PCQ, PCK, PZC, PNF, PNI and PYN are generally exempt from regular federal income taxes (i.e., excluded from gross income for federal income tax purposes but not necessarily exempt from the federal alternative minimum tax). In addition, distributions from PCQ, PCK and PZC are also generally exempt from California state income taxes, and distributions from PNF, PNI and PYN are generally exempt from New York State and city income taxes. There can be no assurance that all distributions paid by these Funds will be exempt from federal income taxes or applicable state or local income taxes. Distributions may include ordinary income, net capital gains and/or a return of capital. Generally, a return of capital occurs when the amount distributed by a Fund includes a portion of (or is comprised entirely of) your investment in the Fund in addition to (or rather than) your pro-rata portion of the Fund’s net income or capital gains. A Fund’s distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with “yield” or “income.” A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of a Fund. If a Fund estimates that a portion of a distribution may be comprised of amounts from sources other than net investment income, as determined in accordance with its internal accounting records and related accounting practices, the Fund will notify shareholders of the estimated composition of such distribution through a Section 19 Notice. For these purposes, a Fund estimates the source or sources from which a distribution is paid, to the close of the period as of which it is paid, in reference to its internal accounting records and related accounting practices. If, based on such accounting records and practices, it is estimated that a particular distribution does not include capital gains or paid-in surplus or other capital sources, a Section 19 Notice generally would not be issued. It is important to note that differences exist between a Fund’s daily internal accounting records and practices, the Fund’s financial statements presented in accordance with U.S. GAAP, and recordkeeping practices under income tax regulations. For instance, a Fund’s internal accounting records and practices may take into account, among other factors, tax-related characteristics of certain sources of distributions that differ from treatment under U.S. GAAP. Examples of such differences may include, among others, the treatment of paydowns on mortgage-backed securities purchased at a discount and periodic payments under interest rate swap contracts. Accordingly, among other consequences, it is possible that a Fund may not issue a Section 19 Notice in situations where the Fund’s financial statements prepared later and in accordance with U.S. GAAP and/or the final tax character of those distributions might later report that the sources of those distributions included capital gains and/or a return of capital. Please visit www.pimco.com for the most recent Section 19 Notice, if applicable, and most recent shareholder reports for additional information regarding the estimated composition of distributions. Final determination of a distribution’s tax character will be provided to shareholders when such information is available. The tax treatment and characterization of a Fund’s distributions may vary significantly from time to time because of the varied nature of the Fund’s investments. For example, a Fund may enter into opposite sides of multiple interest rate swaps or other derivatives with respect to the same underlying reference instrument (e.g., a 10-year U.S. treasury) that have different effective dates with respect to interest accrual time periods for the principal purpose of generating distributable gains (characterized as ordinary income for tax purposes) that are not part of the Fund’s duration or yield curve management strategies. In such a “paired swap transaction”, the Fund would generally enter into one or more interest rate swap agreements whereby the Fund agrees to make regular payments starting at the time the Fund enters into the agreements equal to a floating interest rate in return for payments equal to a fixed interest rate (the “initial leg”). The Fund would also enter into one or more interest rate swap agreements on the same underlying instrument, but take the opposite position (i.e., in this example, the Fund would make regular payments equal to a fixed interest rate in return for receiving payments equal to a floating interest rate) with respect to a contract whereby the payment obligations do not commence until a date following the commencement of the initial leg (the “forward leg”). A Fund may engage in investment strategies, including those that employ the use of derivatives, to, among other things, seek to generate current, distributable income, even if such strategies could potentially result in declines in the Fund’s NAV. A Fund’s income and gain-generating strategies, including certain derivatives strategies, may generate current income and gains taxable as ordinary income sufficient to support monthly distributions even in situations when the Fund has experienced a decline in net assets due to, for example, adverse changes in the broad U.S. or non-U.S. equity markets or the Fund’s debt investments, or arising from its use of derivatives. Because some or all of these transactions may generate capital losses without corresponding offsetting capital gains, portions of a Fund’s distributions recognized as ordinary income for tax purposes (such as from paired swap transactions) may be economically similar to a taxable return of capital when considered together with such capital losses. The tax treatment of certain derivatives in which a Fund invests may be unclear and thus subject to recharacterization. Any recharacterization of payments made or received by a Fund pursuant to derivatives potentially could affect the amount, timing or character of Fund distributions. In addition, the tax treatment of such investment strategies may be changed by regulation or otherwise. The common shares of the Funds trade on the New York Stock Exchange. As with any stock, the price of a Fund’s common shares will fluctuate with market conditions and other factors. If you sell your common shares of a Fund, the price received may be more or less than your original investment. Shares of closed-end investment management companies, such as the Funds, frequently trade at a discount from their net asset value and may trade at a price that is less than the initial offering price and/or the net asset value of such shares. Further, if a Fund’s shares trade at a price that is more than the initial offering price and/or the net asset value of such shares, including at a substantial premium and/or for an extended period of time, there is no assurance that any such premium will be sustained for any period of time and will not decrease, or that the shares will not trade at a discount to net asset value thereafter. The Funds’ daily New York Stock Exchange closing market prices, net asset values per share, as well as other information, including updated portfolio statistics and performance are available at pimco.com/closedendfunds or by calling the Funds’ shareholder servicing agent at (844) 33-PIMCO. Updated portfolio holdings information about a Fund will be available approximately 15 calendar days after such Fund’s most recent fiscal quarter end, and will remain accessible until such Fund files a shareholder report or a publicly available Form N-PORT for the period that includes the date of the information. A Fund’s shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not insured by the FDIC, the Federal Reserve Board or any other government agency. You may lose money by investing in a Fund. Certain risks associated with investing in a Fund are summarized below. An investor should consider, among other things, a Fund’s investment objectives, risks, charges and expenses carefully before investing. A Fund’s annual report contains (or will contain) this and other information about the Fund. A word about risk: Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Corporate debt securities are subject to the risk of the issuer’s inability to meet principal and interest payments on the obligation and may also be subject to price volatility due to factors such as interest rate sensitivity, market perception of the creditworthiness of the issuer and general market liquidity. Bank loans are often less liquid than other types of debt instruments and general market and financial conditions may affect the prepayment of bank loans, and as such the prepayments cannot be predicted with accuracy. There is no assurance that the liquidation of any collateral from a secured bank loan would satisfy the borrower’s obligation, or that such collateral could be liquidated. Contingent Convertible (“Coco”) Bonds are bonds that are converted into equity of the issuing company if a pre-specified trigger occurs. Co-cos are subject to a different type of risk from traditional bonds and may result in a partial or total loss of value or may be converted into shares of the issuing company which may also have suffered a loss in value. Collateralized Loan Obligations (CLOs) may involve a high degree of risk and are intended for sale to qualified investors only. Investors may lose some or all of the investment and there may be periods where no cash flow distributions are received. CLOs are exposed to risks such as credit, default, liquidity, management, volatility, interest rate, and credit risk. Convertible securities may be called before intended, which may have an adverse effect on investment objectives. Floating rate loans are not traded on an exchange and are subject to significant credit, valuation and liquidity risk. A Fund may invest without limit in below investment grade debt securities (commonly referred to as “high yield” securities or “junk bonds”), including securities of stressed and distressed issuers. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Real estate investment trusts (or REITs) are subject to risk, such as poor performance by the manager, adverse changes to tax laws or failure to qualify for tax-free pass-through of income. Investments in residential/commercial mortgage loans and commercial real estate debt are subject to risks that include prepayment, delinquency, foreclosure, risks of loss, servicing risks and adverse regulatory developments, which risks may be heightened in the case of non-performing loans. Investing in distressed loans and bankrupt companies is speculative and the repayment of default obligations contains significant uncertainties. Distressed and Defaulted Securities involve substantial risks, including the risk of default. Such investments may be in default at the time of investment. In addition, these securities may fluctuate more in price, and are typically less liquid. Commodities contain heightened risk, including market, political, regulatory and natural conditions, and may not be appropriate for all investors. Many energy sector master limited partnerships (or MLPs) and other companies in which PDX may invest operate natural gas, natural gas liquids, crude oil, refined products, coal, or other facilities within the energy sector and will be susceptible to adverse economic, environmental, or regulatory occurrences affecting the sector including sharp decreases in crude oil or natural gas prices. Energy Sector Risk. PDX will be concentrated in the energy sector, and will therefore be susceptible to adverse economic, environmental, or regulatory occurrences affecting that sector. Private credit involves an investment in non-publicly traded securities which may be subject to illiquidity risk. Portfolios that invest in private credit may be leveraged and may engage in speculative investment practices that increase the risk of investment loss. A Fund will also have exposure to such risks through its investments in mortgage and asset-backed securities, which are highly complex instruments that may be sensitive to changes in interest rates and subject to early repayment risk. Income from municipal bonds is exempt from federal income tax and may be subject to state and local taxes and at times the alternative minimum tax; a strategy concentrating in a single or limited number of states is subject to greater risk of adverse economic conditions and regulatory changes. Structured products such as collateralized debt obligations are also highly complex instruments, typically involving a high degree of risk; use of these instruments may involve derivative instruments that could lose more than the principal amount invested. Sovereign securities are generally backed by the issuing government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Concentration of assets in one or a few sectors may entail greater risk than a fully diversified portfolio and should be considered as only part of a diversified portfolio. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Leveraging transactions, including borrowing, typically will cause a portfolio to be more volatile than if the portfolio had not been leveraged. Leveraging transactions typically involve expenses, which could exceed the rate of return on investments purchased by a fund with such leverage and reduce fund returns. The use of leverage may cause a portfolio to liquidate positions when it may not be advantageous to do so. Leveraging transactions may increase a fund’s duration and sensitivity to interest rate movements. Derivatives may involve certain costs and risks, such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Each of PDO, PNF and PYN is non-diversified, which means that it may invest its assets in a smaller number of issuers than a diversified Fund. Limited Term Risk. With respect to PDX, PDO and PAXS (each, for purposes of this paragraph only, a “Limited Term Fund”), unless the limited term provision of a Limited Term Fund’s Amended and Restated Agreement and Declaration of Trust (the “Declaration of Trust”) is amended by shareholders in accordance with the Declaration of Trust, or unless a Limited Term Fund completes a tender offer, as of a date within twelve months preceding the Dissolution Date (as defined below), to all common shareholders to purchase 100% of the then outstanding common shares of such Limited Term Fund at a price equal to the NAV per common share on the expiration date of the tender offer (an “Eligible Tender Offer”), and converts to perpetual existence, such Limited Term Fund will terminate. PDX will terminate on or about January 29, 2031; PDO will terminate on or about January 27, 2033; and PAXS will terminate on or about January 27, 2034 (each such termination date, a “Dissolution Date”). No Limited Term Fund is a “target term” fund whose investment objective is to return its original net asset value on the Dissolution Date or in an Eligible Tender Offer. Because the assets of each Limited Term Fund will be liquidated in connection with the dissolution, such Limited Term Fund will incur transaction costs in connection with dispositions of portfolio securities. The Limited Term Funds do not limit their investments to securities having a maturity date prior to the applicable Dissolution Date and may be required to sell portfolio securities when they otherwise would not, including at times when market conditions are not favorable, which may cause such Limited Term Fund to lose money. In particular, a Limited Term Fund’s portfolio may still have large exposures to illiquid securities as its Dissolution Date approaches, and losses due to portfolio liquidation may be significant. Beginning one year before the applicable Dissolution Date (the “Wind-Down Period”), a Limited Term Fund may begin liquidating all or a portion of its portfolio, and may deviate from its investment strategy and may not achieve its investment objectives. As a result, during the Wind-Down Period, a Limited Term Fund’s distributions may decrease, and such distributions may include a return of capital. A Limited Term Fund’s investment objectives and policies are not designed to seek to return investors’ original investment upon termination of such Limited Term Fund, and investors may receive more or less than their original investment upon termination of such Limited Term Fund. As the assets of a Limited Term Fund will be liquidated in connection with its termination, such Limited Term Fund may be required to sell portfolio securities when it otherwise would not, including at times when market conditions are not favorable, which may cause such Limited Term Fund to lose money. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Closed-end funds may be leveraged and carry various risks depending upon the underlying assets owned by a fund. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund annual and semi-annual report. For additional information, please contact your investment professional or call 1-844-337-4626. About PIMCO PIMCO was founded in 1971 in Newport Beach, California and is one of the world’s premier fixed income investment managers. Today we have offices across the globe and 3,000+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider. Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO’s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statement. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. PIMCO Investments LLC, 1633 Broadway, New York, NY 10019, is a company of PIMCO. ©2024, PIMCO. For information on PIMCO Closed-End Funds: Financial Advisors: (800) 628-1237 Shareholders: (844) 337-4626 or (844) 33-PIMCO PIMCO Media Relations: (212) 597-1054Himalayan Agriculture Industry Limited held its first general assembly on Saturday at the Miracle Party Palace in Sukedhara, Kathmandu. The event, inaugurated by Nepal's first President, Dr. Ram Baran Yadav, highlighted the company's mission to modernize and transform Nepal's agricultural sector. He also commended the company's efforts to revive Nepal's agricultural legacy, stressing collective action to restore the country's soil health. During the program, Executive Chairman Sagar Uprety of the company emphasized the importance of addressing challenges in agriculture through digitalization, modernization, and research. He stated that the company is committed to offering comprehensive solutions from production to distribution and export.Highlighting agriculture's critical role in Nepal, he voiced concerns over the sector's long-standing neglect. Krishna Maharjan, a director of the company and also associated with the Appropriate Organic Fertilizer Company Limited, spoke about their collaboration to protect Nepal from the adverse effects of unnecessary chemical fertilizers and pesticides. Tribhuvan University Professor Dr. Pramod Aryal presented insights into Nepal's agricultural data and technology, while another founding member, Hemraj Bhandari, who has also served as a member of the Constituent Assembly, urged everyone to join the company's campaign to preserve soil and take advantage of the opportunity to purchase shares in the public company. Another founder, farmer Ananta Karki, shared his experiences using organic fertilizers in his farming practices. The event was attended by a large gathering of agricultural experts, scientists, innovators, and stakeholders.
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Why Oracle Stock Topped the Market TodayCarraro India's Market Debut Stumbles With 7.52% DeclinePRATTVILLE, Ala. (AP) — A federal judge has ordered an Alabama city to allow an LGBTQ+ pride group to participate in the city's Christmas parade on Friday, after the mayor initially blocked the group from the annual event citing unspecified “safety concerns.” U.S. District Judge R. Austin Huffaker Jr. ruled that the City of Prattville violated Prattville Pride's First Amendment right to free speech and 14th Amendment right to equal protection under the law when it banned the group from running a float in the annual Christmas parade one day before the event was set to take place. “The City removed Prattville Pride from the parade based on its belief that certain members of the public who oppose Prattville Pride, and what is stands for, would react in a disruptive way. But discrimination based on a message’s content 'cannot be tolerated under the First Amendment,' ” Huffaker wrote in his opinion. The ruling required the city to provide at least two police officers to escort the float throughout the parade. On Thursday, Prattville Pride requested additional security measures from law enforcement. In response, Mayor Bill Gillespie Jr released a statement banning the group from the parade altogether, citing “serious safety concerns.” Huffaker's ruling said that, leading up to the event, some community members “voiced vehement opposition” to the group's inclusion in the parade, but that “the City has presented no evidence of legitimate, true threats of physical violence.” Gillespie's office referred to a statement posted on the city's social media in response to a request for comment. “The City respects the ruling of the Court and will comply with its order. The safety of everyone involved with the parade is a priority,” city officials said in a statement on social media. Prattville Pride celebrated the ruling on social media. “The Christmas parade is a cherished holiday tradition, and we are excited to celebrate alongside our neighbors and friends in the spirit of love, joy, and unity," the group wrote. Prattville is a small city of about 40,000 people, just north of the capital of Montgomery. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Be the first to know Get local news delivered to your inbox!Jayden Daniels dazzles again as Commanders clinch a playoff spot by beating Falcons 30-24 in OT
A trustee who oversaw the Infowars bankruptcy auction told a judge Tuesday that he picked The Onion's bid for the conspiracy-filled platform because was it far better than the only other proposal he received, from a company affiliated with Alex Jones. Trustee Christopher Murray testified during the second day of a hearing where a judge is scrutinizing Murray's decision to name the satirical news outlet's offer as the winning bid after a November auction that Jones alleges involved fraud and collusion. “Only two people showed up to bid and ... one was just better than the other,” Murray testified, referring to The Onion. Asked how much better it was, he said “by a lot.” It is not clear how quickly U.S. Bankruptcy Judge Christopher Lopez in Houston will rule. Testimony on Tuesday was expected to go into the evening. The Onion, which wants to turn Infowars’ website and social media accounts into parodies , offered $1.75 million in cash and other incentives for Infowars’ assets in the auction that concluded on Nov. 14. First United American Companies, which runs a website in Jones’ name that sells nutritional supplements, bid $3.5 million. Although The Onion’s cash offer was lower than that of First United American, it also included a pledge by many of the Sandy Hook families to forgo $750,000 of the auction proceeds due to them and give it to other creditors, providing the other creditors more money than they would receive under First United American’s bid. Lopez could ultimately decide whether to void The Onion’s bid, name the Jones-affiliated company the winner or hold another auction, among other possibilities. Jones did not attend the proceedings and instead broadcast from his studios in Austin. “I can’t imagine the judge would certify this fraud,” Jones said on his show Tuesday. “I mean it’s head-spinning the stuff they did and what they claimed.” The trustee and The Onion deny the allegations from Jones and the company and accuse them of sour grapes. If The Onion wins, Jones expects to be kicked out of the Infowars studio and its web and social media platforms. The sale of Infowars is part of Jones’ personal bankruptcy case , which he filed in late 2022 after he was ordered to pay nearly $1.5 billion in defamation lawsuits in Connecticut and Texas filed by relatives of victims of the Sandy Hook Elementary School shooting. Jones repeatedly called the 2012 shooting that killed 20 children and six educators a hoax staged by actors and aimed at increasing gun control. Parents and children of many of the victims testified in court that they were traumatized by Jones’ conspiracies and threats from his followers. Jones has since acknowledged that the Connecticut school shooting happened . Most of the proceeds from the sale of Infowars, as well as many of Jones’ personal assets, will go to the Sandy Hook families. Some proceeds will go to Jones’ other creditors. Murray testified that he did not favor either bidder over the other and was not biased. He also revealed that First United American submitted a revised bid in recent days, but he said he could not accept it because the Sandy Hook families in the Connecticut lawsuit objected. The Onion valued its bid, with the Sandy Hook families’ offer, at $7 million, because that amount was equal to a purchase price that would provide the same amount of money to the other creditors. In a court filing last month, Murray's lawyers called First United American's request to disqualify The Onion's bid a “disappointed bidder's improper attempt to influence an otherwise fair and open election process.” Murray's lawyer questioned him Tuesday afternoon. Attorneys for Jones and First United American were cross-examining him later Tuesday. In his opening argument Monday, Jones attorney Ben Broocks said there was no way The Onion should have been chosen over First United American. “How does a $1.75 million bid beat a $3.5 million bid?” he asked. “How is that $1.75 million greater? Well, it’s voodoo economics, to use a phrase.” Auctioneer Jeff Tanenbaum on Monday defended both the value of the bid and its selection. Up for sale were all the equipment and other assets in the Infowars studio in Austin, as well as the rights to its social media accounts, websites, video archive and product trademarks. Jones uses the studio to broadcast his far-right, conspiracy theory-filled shows on the Infowars website, his account on the social platform X and radio stations. Jones has set up another studio, websites and social media accounts in case The Onion wins approval to buy Infowars and kicks him out. Jones has said he could continue using the Infowars platforms if the auction winner is friendly to him. Jones is appealing the $1.5 billion in judgments citing free speech rights.Gov. Gavin Newsom visited the U.S.-Mexico border Thursday, railing against President-elect Donald Trump’s tariff threats and the economic damage a 25% tax on goods coming from Mexico would likely have on the binational region and the state. “Is the president-elect embarrassed by his own leadership as it relates to what he often describes as his USMCA?” Newsom asked, referring to the free trade agreement among the U.S., Mexico and Canada . “Did he do something wrong with that agreement that now he wants to throw it out completely and impose a 25% tax increase on the American people?” Newsom said no state nor any region would be more impacted by tariffs than California and CaliBaja, but he stressed that the national economy would also suffer. “Don’t think for a second this won’t impact you,” he warned. “Forgive me, I didn’t want to make this too political,” he later added, though leading the resistance against Trump could boost his own political ambitions. The governor also spoke about immigration, fentanyl and highlighted the ongoing expansion of the Otay Mesa East Port of Entry in San Diego. Newsom’s visit comes as the nation prepares for a dramatic shift in federal leadership next month, and as Trump promises mass deportations of undocumented immigrants . Otay Mesa East offers a border narrative that challenges Trump’s philosophy, Newsom said. Trump often paints a picture of the border as a dangerous, lawless place that should be shut down and walled off. But the new port of entry can increase trade and improve security, the governor said. Significantly delayed in construction, the $1.1 billion project is now slated for completion in December 2027. “We’ve been talking about this Otay East Port of Entry since quite literally the late 1990s,” Newsom said, adding that Trump supported the project in 2018. Otay Mesa East was planned to alleviate congestion at the border, reduce wait times and bolster economic ties with Mexico, California’s largest trading partner. Mexico purchases approximately 19% of all California exports. In 2023, California exported to Mexico approximately $33.3 billion worth of goods , such as computer and electronic equipment, transportation equipment and processed foods, according to the California Chamber of Commerce. As much as crossing the border needs to be fast, California’s governor also acknowledged it needs to be secure, calling attention to the counternarcotics work done by the California National Guard. In 2023, it seized 62,000 pounds of fentanyl, he said. The state is increasing that operation with a focus on contraband flowing southbound. The State Department is considering an application for National Guard members to help train and support Mexican military personnel. “A big part of what happens on the other side of the border, as it relates to violence,” Newsom said, “is happening with American-made weapons that come south to Mexico from America. And we need to do a better job to attach a focus, responsibility and energy in that space.”
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Former Edmonton Elks CEO to head athlete safety committee after fighter’s deathThere's no time like the present to start (or finish) your holiday gift shopping. After all, are still up and running, so you can save big on top tech, fashion, home items and more. But if you're working with little to no input from the people you're shopping for, don't worry. Our team of shopping editors have turned researching and buying products into a career, so they know a thing or two about what's worth adding to your cart. Seenlast Candle Warmer Lamp with Timer Mulberry Silk Pillowcase, Standard Size Venustas Men's Polar Fleece Heated Jacket Lillusory Oversize Cardigan Lego Icons Tiny Plants Building Set Britannica's First Big Book of Why Amazon Fire HD 8 tablet (2024) Uproot Cleaner Pro Pet Hair Remover Asakuki 5-in-1 Essential Oil Diffuser Majestic Pure Sweet Orange Body Scrub L'ange Hair Le Styliste Luxury Hair Dryer Tile by Life360 Sticker, 2-Pack Ugg Euphoria Plush Faux Fur Reversible Throw Blanket Bose Ultra Open Earbuds Amazon Fire TV Stick 4K Max (Newest Model) Travelpro Platinum Elite Hardside Expandable Carry-on Luggage ESW Beauty Raw Juice Cleanse Mask Set Polar Verity Sense Optical Heart Rate Monitor Armband Polar Pacer Ultra-Light GPS Fitness Tracker Smartwatch for Runners Renpho Eyeris 1 Eye Massager with Heat Warm Pals Microwavable Lavender-Scented Spidey The Spider That said, we've compiled a list of the that you can get on sale during the , up to 60% off. For the winter homebodies, might we suggest a or a ? On the other hand, if you're shopping for a frequent flier, we love a and these . And for the movie buff, you can't beat the , which offers the best, crystal-clear picture of all the streaming sticks. But that's just a few gift ideas — keep scrolling for more! We've listed over 20 of our favorite items to give and receive from Amazon. But if you don't see something on this list that strikes your fancy, check out our for and , along with ideas for your upcoming or gift exchanges. "As someone whose greatest fear is burning my house down, I'm a little obsessed with these pretty yet practical gadgets. Not only do they allow you to enjoy the scent of your favorite candles without any flame, they can also extend their lives as well. I plan on getting a few of these to gift to family and friends this year; at under $30, it's a small price to pay for some peace of mind." "I'm a huge fan of my silk pillowcase — I feel like royalty while sleeping on the smooth surface, but it also keeps my hair from breaking and frizzing at night. This holiday season, I'm going to spread the wealth and gift these to friends and family. At just $9, it makes the perfect stocking stuffer. You can also choose from tons of different colors — everything from neutrals to bright pink and teal — so there's a style for everyone on your list." "Do you know how hard it is to get a tween boy to wear any sort of coat or jacket? Well, I've finally found a workaround: This battery-pack-powered fleece. It's light enough not to bug a coat-averse kid from the get-go, and they can toggle between three heat levels by pressing a button. If you're not part of the bus-stop crew, never fear — it would be a great gift for anyone who wants a little extra warmth without the bulk this winter." "This oversize cardigan looks very similar to an expensive Jenni Kayne one that's $395, but obviously, this one is a fraction of the price. I got one last year and it's super soft, comfy and washes well — so I had to get two more. This year, I'm going to gift one to my mom. They're great for layering over a T-shirt with jeans or leggings and especially great for travel. I know my snowbird mother will take hers on the plane to Florida this year, and when she lands, it won't take up too much room in her tote bag." "Black thumb? No problem. These teeny-tiny plants are impossible to kill. This 758-piece set is one of the most popular Lego releases from the last year — and that's saying something since they recently earned the title of the most-searched toy brand on ." "My son just started asking 'why?' incessantly, so I'm leaning heavily into early learning resources. I love Britannica's educational books like this , and with 10 nieces (yes, all nieces) and my own two kids to nerd out with, I'll be sharing the love with titles like and ." "The best budget tablet just got a refresh, and while the updates are pretty modest, this is still an amazingly versatile device — especially at the Cyber Monday price of just $55. Amazon even managed to bake some new AI features into the Fire HD 8, like e-mail proofreading and natural-language web page summaries. Before you spend a small fortune on an iPad Mini, you owe it to yourself to catch Fire. Read my to learn more." — "This is a worthy stocking stuffer for any pet owner. It grabs hair from rugs, upholstery, pet beds — basically, any pet-loved place or perch — way more effectively than a vacuum, and you can use it over and over, so say goodbye to those annoying rollers of sticky tape. The only downside is that once you use it, you'll realize that your house has not actually been clean since you brought home Fido or Fluffy," "More and more research shows that inhaling certain scents throughout the day (such as rosemary and peppermint) can lead to increased focus and mental clarity overall. This diffuser is wildly well reviewed and it will look cute in my (or my gift recipient's) office too." "This bright, invigorating all-natural scrub is made from some of the most skin-nourishing ingredients around, including sweet orange oil, dead sea salt, organic aloe vera juice and coconut oil. The scent is more tart than candy-sweet and it's amazingly effective for sloughing off dead skin cells. And the price can't be beat." "If you really want to treat someone this season, get them the L'ange Le Stylist hair dryer. It's super lightweight, dries hair fast and leaves hair silky smooth. My mom bought one over the summer and made me compare it to my Dyson, and I have to say, I like this one better! It's so much lighter. Unfortunately, she took hers on a trip abroad and it broke, but she loved it so much she bought another one. Now I feel like my beauty-loving teen goddaughter may need one for Christmas (and maybe me too)." "I love my husband dearly, but he's never met a TV remote that he didn't near-immediately lose somewhere — in the couch cushions, under the coffee table, sometimes in different rooms from the television entirely. Tile Stickers have been a lifesaver for when we're struggling to locate the Roku clicker, soundbar remote, etc., and I have a feeling this two-pack will come in very handy for a variety of these kinds of items. They're perfect for gifting to any similarly-absent-minded loved ones too — stocking stuffer, anyone?" "Who doesn't want to curl up in a ridiculously soft blanket during the winter months? There is nothing I love more than hanging on my couch underneath a pile of blankets, so I plan on adding this faux fur one from Ugg into the mix. It's machine-washable and neutral enough to go with any home decor. While this throw is on sale, I plan on snagging it right away." "I usually don’t wear earbuds since they tend to fall out of my ears, but a few months ago, Bose gifted me a pair of these Ultra Open Earbuds, and I can’t get enough of them! They fit like an ear cuff, so they actually stay put. Plus, they're not noise-cancelling, which I love because I can still hear the world around me. This makes me feel a lot safer while I’m out walking. And I’m definitely not alone in loving them — Oprah even featured them on her this year! Now that they're on sale, I’m thinking they’d make the perfect Christmas gift for my sister." "Even at full price, the Fire TV Stick 4K Max was the budget pick in our . At nearly 50% off, it's a steal. Amazon's streamer may not have the easiest interface in the world, but it does have lightning-fast Wi-Fi, robust parental controls and some of the best gaming options anywhere — including support for Xbox Game Pass (basically console gaming without the console). All for a measly $30." "As someone who always travels with just a carry-on, no matter how long the trip, I have to say this Travelpro suitcase is a total dream! It rolls so effortlessly, and the contour grip handle feels super comfortable to hold. I love how both sections have zippered panels that help compress my belongings, plus there are multiple pockets for all my smaller items. The best part? It has an expansion zipper that gives me an extra two inches of space, which is a lifesaver when I get carried away with souvenir shopping!" "I love these ESW face masks. I often buy them to stick in birthday cards as a small treat or bring them on trips to share with friends. This 'juice cleanse' multipack comes with five fruit-forward masks for detoxing pores, brightening, moisturizing and soothing skin and providing anti-aging benefits. And just to note, I have sensitive skin that's prone to breakouts and they've always helped, never irritated my skin. They're great stocking stuffers, but I'll also give out a few to my girlfriends this holiday season." "Not everyone likes wearing a watch or ring while exercising. For the fitness buff who wants to track their heart rate and intensity level without restricting wrist or hand movement, Polar's Verity Sense armband is the way to go — Polar is known for its top-notch heart rate products" "For anyone who runs, hikes or bikes and wants a GPS watch, this lightweight Polar Pacer is an excellent choice. It's also good for tracking general activity and fitness metrics and includes a built-in heart rate monitor." "If you're anything like me, then you stare at a computer for at least eight hours a day. And there's the time spent scrolling TikTok and Instagram after-hours. And, ya know, the hours spent bingeing the latest Netflix release. Well, this heated massager will nip the all-too-inevitable eye strain in the bud. Switch between five different modes until you find the right level of heat, vibration and compression. You can even play some music — either the stuff that comes pre-loaded or your own tunes via Bluetooth — to really zen out. It's a must for anyone looking to amp up their self-care routine in the year ahead, aka everyone you know." "Weighted blankets and toys can help kids calm down, and these lavender-scented, microwavable stuffed animals are on my list to buy for my own kids this year. This spider to match my son's Spiderman theme, and the for my daughter. Anything to make bedtime a little easier, right?" If you have , you'll get free shipping, of course. Not yet a member? No problem. . (And by the way, those without still get free shipping on orders of $35 or more.)