NEW YORK (AP) — U.S. stock indexes fell Thursday following some potentially discouraging data on the economy . The S&P 500 slipped 0.5% for its fourth loss in the last six days. It’s a pause for the index, which has been rallying toward one of its best years of the millennium . The Dow Jones Industrial Average lost 234 points, or 0.5%, and the Nasdaq composite sank 0.7% from its record set the day before. A report early in the morning said more U.S. workers applied for unemployment benefits last week than expected. A separate update, meanwhile, showed that inflation at the wholesale level, before it reaches U.S. consumers, was hotter last month than economists expected. Neither report points to imminent disaster, but they dilute one of the hopes that’s driven the S&P 500 to 57 all-time highs so far this year : Inflation is slowing enough to convince the Federal Reserve to keep cutting interest rates, while the economy is remaining solid enough to stay out of a recession. Of the two reports, the weaker update on the job market may be the bigger deal for the market, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley. A surge in egg prices may have been behind the worse-than-expected inflation numbers. “One week doesn’t negate what has been a relatively steady stream of solid labor market data, but the Fed is primed to be sensitive to any signs of a softening jobs picture,” he said. Traders are widely expecting the Fed will ease its main interest rate at its meeting next week. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. A cut next week would have the Fed following other central banks, which lowered rates on Thursday. The European Central Bank cut rates by a quarter of a percentage point, as many investors expected, and the Swiss National Bank cut its policy rate by a steeper half of a percentage point. Following its decision, Switzerland’s central bank pointed to uncertainty about how U.S. President-elect Donald Trump’s victory will affect economic policies, as well as about where politics in Europe is heading. Trump has talked up tariffs and other policies that could upend global trade. He rang the bell marking the start of trading at the New York Stock Exchange on Thursday to chants of “USA.” On Wall Street, Adobe fell 13.7% and was one of the heaviest weights on the market despite reporting stronger profit for the latest quarter than analysts expected. The company gave forecasts for profit and revenue in its upcoming fiscal year that fell a bit shy of analysts’. Warner Bros. Discovery soared 15.4% after unveiling a new corporate structure that separates its streaming business and film studios from its traditional television business. CEO David Zaslav said the move “enhances our flexibility with potential future strategic opportunities,” raising speculation about a spinoff or sale. Kroger rose 3.2% after saying it would get back to buying back its own stock now that its attempt to merge with Albertsons is off . Kroger’s board approved a program to repurchase up to $7.5 billion of its stock, replacing an existing $1 billion authorization. All told, the S&P 500 fell 32.94 points to 6,051.25. The Dow Jones Industrial Average dropped 234.55 to 43,914.12, and the Nasdaq composite sank 132.05 to 19,902.84. In stock markets abroad, European indexes held relatively steady following the European Central Bank’s cut to rates. Asian markets were stronger. Indexes rose 1.2% in Hong Kong and 0.8% in Shanghai as leaders met in Beijing to set economic plans and targets for the coming year. South Korea’s Kospi rose 1.6% for its third straight gain of at least 1%, as it pulls back following last week’s political turmoil where its president briefly declared martial law. In the bond market, the 10-year U.S. Treasury yield rose to 4.33% from 4.27% late Wednesday. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In iLearningEngines To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $75,000 in iLearningEngines between April 22, 2024 and August 28, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) . [You may also click here for additional information] NEW YORK , Nov. 30, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP , a leading national securities law firm, is investigating potential claims against iLearningEngines, Inc. ("iLearningEngines" or the "Company") (NASDAQ: AILE) and reminds investors of the December 6, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York , Pennsylvania , California and Georgia . The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com . As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that (1) the Company's "Technology Partner" was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) that, as a result of the foregoing, the Company significantly overstated its revenue; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On August 29, 2024 , before the market opened, Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all of the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, when in reality, total revenue was, in fact, approximately $853,471.00 , or 99.4% less than what iLearningEngines claimed in revenue in the country that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024 , on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding iLearningEngines' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the iLearningEngines class action, go to www.faruqilaw.com/AILE or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) . Follow us for updates on LinkedIn , on X , or on Facebook . Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. View original content to download multimedia: https://www.prnewswire.com/news-releases/deadline-alert-faruqi--faruqi-llp-investigates-claims-on-behalf-of-investors-of-ilearningengines-302317695.html SOURCE Faruqi & Faruqi, LLPWEST PALM BEACH, Fla. (AP) — President-elect Donald Trump said Saturday that he wants real estate developer Charles Kushner , father of Trump’s son-in-law Jared Kushner, to serve as ambassador to France. Trump made the announcement in a Truth Social post, calling Charles Kushner “a tremendous business leader, philanthropist, & dealmaker." Kushner is the founder of Kushner Companies, a real estate firm. Jared Kushner is a former White House senior adviser to Trump who is married to Trump’s eldest daughter, Ivanka. The elder Kushner was pardoned by Trump in December 2020 after pleading guilty years earlier to tax evasion and making illegal campaign donations. Prosecutors alleged that after Charles Kushner discovered his brother-in-law was cooperating with federal authorities in an investigation, he hatched a scheme for revenge and intimidation. Kushner hired a prostitute to lure his brother-in-law, then arranged to have the encounter in a New Jersey motel room recorded with a hidden camera and the recording sent to his own sister, the man’s wife, prosecutors said. Kushner eventually pleaded guilty to 18 counts including tax evasion and witness tampering. He was sentenced in 2005 to two years in prison — the most he could receive under a plea deal, but less than what Chris Christie, the U.S. attorney for New Jersey at the time and later governor and Republican presidential candidate, had sought. Christie has blamed Jared Kushner for his firing from Trump’s transition team in 2016, and has called Charles Kushner’s offenses “one of the most loathsome, disgusting crimes that I prosecuted when I was U.S. attorney.” Trump and the elder Kushner knew each other from real estate circles and their children were married in 2009. Tucker reported from Newtown, Pennsylvania.
Green Building Materials Market to Surpass USD 455.6 Billion by 2031Work-related stress, mental health and burn-out: Silent assassins of productivity
( MENAFN - PR Newswire) Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 in ASML To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $100,000 in ASML between January 24, 2024 and October 15, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) . [You may also click here for additional information] NEW YORK, Nov. 30, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP , a leading national securities law firm, is investigating potential claims against ASML Holding N.V. ("ASML" or the "Company") (NASDAQ: ASML ) and reminds investors of the January 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See . As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the issues being faced by suppliers, like ASML, in the semiconductor industry were much more severe than Defendants had indicated to investors; (2) the pace of recovery of sales in the semiconductor industry was much slower than Defendants had publicly acknowledged; (3) Defendants had created the false impression that they possessed reliable information pertaining to customer demand and anticipated growth, while also downplaying risk from macroeconomic and industry fluctuations, as well as stronger regulations restricting the export of semiconductor technology, including the products that ASML sells; and (4) as a result, Defendants' statements about the Company's business, operations, and prospects lacked a reasonable basis. On October 15, 2024, ASML published earnings for the third quarter of 2024, revealing quarterly bookings of €2.63 billion, a decline of 53% quarter-over-quarter. The Company also announced it expects full year 2025 total net sales to be between €30 billion and €35 billion, with a gross margin between 51% and 53%. On this news, ASML's stock price fell $141.84, or 16.26%, to close $730.43 per share on October 15, 2024, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding ASML's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the ASML class action, go to /ASML or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) . Follow us for updates on LinkedIn , on X , or on Facebook . Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. SOURCE Faruqi & Faruqi, LLP MENAFN30112024003732001241ID1108941590 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.I"m A Celebrity fans have spotted something different about GK Barry during the latest trial. In the latest episode of the ITV show, celebrities were given the chance to win immunity from the next two vote-offs, which guarantees them a place in the final four and the opportunity to take part in the Celebrity Cyclone trial. The campmates were split into two groups of four, with each group taking on a head-to-head trial to gather tickets. The four celebrities who collected the most tickets will go head-to-head in Thursday night's show to win the immunity prize. READ MORE: ITV I'm A Celebrity fans say 'they've ruined it' as show favourite gets major shake-up Podcaster and Loose Women star GK Barry was the first to give the trial a go, alongside Coleen Rooney, Reverend Richard Coles and Danny Jones. The celebrities had to retrieve coins from a container of fish guts that they then put into a claw machine to pick up balls that had tickets inside, all while getting showered with bugs. GK, whose real name is Grace, told Ant and Dec that she "would like to never do that again" at the end of the trial. But fans at home noticed that GK, who has been heard screaming loudly during previous trials, had remained very quiet as she took on the task. GK was focused during the trial (Image: ITV / X) Some fans wondered why the campmate had remained so cool during the trial, with some suggesting she was focused on trying to win the prize and others saying she had 'forgotten' to scream. Afterwards, GK admitted: "I didn't even care about those cockroaches, I was shaking them off left right and centre." Fans took to social media to share their thoughts. "GK seems to have forgotten to continually scream," one viewer wrote on X, formerly Twitter . "Is this one of the quietest trials bar a few screams from GK?" another fan asked. "GK Barry got stuck in on this trial to win a place in Celebrity Cyclone without screaming. Funny that eh," a third person wrote. A fourth added: "Never heard GK this quiet in the presence of bugs, home girl is focused." "Funny someone who was screaming so much last night is barely screaming right now," another said, while somebody else commented: "At least Maura is consistent with her screaming. GK screaming disappeared." At the end of the episode, Ant and Dec went back into camp to reveal the winners of the trial. The presenters told the campmates that Danny, Coleen, Maura Higgins and Oti Mabuse won the most tickets and would be taking part in the final contest to win immunity.
NAPLES, Fla. (AP) — Narin An handled the windy conditions with a hot putter on Thursday, making four straight birdies around the turn and finishing with an 8-under 64 for a one-shot lead in the CME Group Tour Championship. At stake for the 60-player field is a $4 million prize to the winner, the largest single-day payoff in women's golf. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a week
None
SBI launches nation-wide drive for activation of inoperative accounts
11 states sue three largest institutional investors for anticompetitive trade practicesThe democratic process may empower dangerous demagogues but it can also bring about necessary reforms. And so, as Donald Trump returns to Washington, Germany appears to be moving towards loosening the “debt brake” which forbids the country from borrowing more than the equivalent of 0.35 percent of its GDP each year and impedes growth. This limit was imposed through a constitutional amendment in 2009, when the German economy was booming and the only problem that the country and the European Union seemed to face was Greece’s debt crisis. But when things got difficult, first with the pandemic, then with Russia’s invasion of Ukraine, the measure was suspended for four years. Now that it is back, it is clear what an impediment it is. The Social Democrat chancellor, Olaf Scholz, wanted to loosen the brake, but the leader of the conservative opposition CDU party, Friedrich Merz, would hear none of it. The Liberals, who were part of the Scholz government, chose to be thrown out of it rather than agree to loosening the brake. The country is now headed for early elections on February 23. Suddenly, Merz appears willing to discuss raising the debt limit. What happened? If the polls are correct, Merz will be the next chancellor, possibly in a “grand coalition” with the Social Democrats. He will then face the impasse that troubled Scholz. The “brake” was instituted when Angela Merkel was chancellor, when the economy was growing and creating jobs. The eurozone’s structural problems benefited Germany, as the flight of capital towards the safety of its banks resulted in the government and German companies swimming in cheap cash. At the time, (Russian) energy was cheap and America took care of Europe’s defense. It seemed that the whole world, and more and more people in Germany, were working for Germany. The government at the time, though, did not take advantage of the opportunity to build new infrastructure and to strengthen its military. Now that problems are mounting, Germany needs to break the borrowing limit of 0.35 percent of GDP. As Scholz noted, additional spending on defense should not be at the cost of investments and welfare programs. “I think that targeted, moderate reforms of the debt brake are possible. They’re being broadly debated,” Finance Minister Jorg Kukies said on Friday. He noted the need to “combine the existing fiscal solidity with better incentives for public investments in the future.” Politicians broach the issue warily, as many Germans fear debt and inflation. If the populist parties on the extreme-right and extreme-left (AfD and BSW, respectively) gain more than a third of the seats in the Parliament, the governing coalition after the elections will not have the necessary majority to amend the constitution. If Germany cannot borrow as much as it needs to, it will face an economic impasse, a weakened military, and the need to cut welfare programs, along with all the social problems that this will cause. This would benefit the extremist parties at home and the country’s enemies abroad. A wounded and even more introverted Germany will seriously undermine the political, economic and military credibility of the European Union. German members of parliament and others who participate in the public debate are aware of the need to contribute towards strengthening Europe. That is why dedication to strict economic discipline should not be an end in itself. Fortunately, the question of political survival, which democracy raises regularly through elections, drives politicians to become more flexible. In this case, this benefits their country and the European Union, too.