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Pete Carroll wants to mentor Caleb Williams, coach Bears and teach at USC? He's a young 73.AGV Market Booms with Increasing Automation in Manufacturing and Warehousing 11-22-2024 06:24 PM CET | Advertising, Media Consulting, Marketing Research Press release from: Data Bridge Market Research Automated Guided Vehicle Market Size And Forecast by 2031 Data Bridge Market Research analyses that the global automated guided vehicle market, which was USD 2.54 billion in 2023, is expected to reach USD 4.06 billion by 2031, growing at a CAGR of 6.01% during the forecast period of 2024 to 2031. Automated Guided Vehicle Market research report provides a comprehensive analysis of the market. The report aims to provide insights into Automated Guided Vehicle Market trends, growth opportunities, key drivers and challenges, competitive landscape, and other crucial factors that may impact the market in the forecast period (2024-2031). Get a Sample PDF of Report - https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-automated-guided-vehicles-market Which are the top companies operating in the Automated Guided Vehicle Market? The study report on the Global Automated Guided Vehicle Market offers a comprehensive analysis of the industry, highlighting key trends, market dynamics, and competitive landscape. It profiles prominent organizations operating in the market, examining their successful strategies and market share contributions. This Automated Guided Vehicle Market report provides the information of the Top 10 Companies in Automated Guided Vehicle Market in the market their business strategy, financial situation etc. **Segments** - On the basis of type, the global automated guided vehicle market can be segmented into tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and AGV forklifts. Tow vehicles are expected to witness significant growth due to their ability to transport heavy loads efficiently within manufacturing facilities. Unit load carriers are also gaining traction as they help in streamlining materials handling operations. - Based on navigation technology, the market can be categorized into laser guidance, magnetic guidance, vision guidance, natural navigation, and others. Laser guidance systems are anticipated to dominate the market as they offer high precision and reliability in guiding AGVs within indoor environments. Magnetic guidance technology is also popular due to its cost-effectiveness and ease of installation. - In terms of application, the automated guided vehicle market can be divided into logistics & warehousing, automotive, manufacturing, food & beverage, healthcare, and others. The logistics & warehousing segment is projected to hold a significant share owing to the increasing adoption of AGVs for material handling and inventory management in warehouses. The automotive industry is also a key application area for AGVs, especially for tasks such as assembly line operations and material transportation. **Market Players** - Daifuku Co., Ltd. - Dematic (KION Group) - JBT - KUKA AG - Toyota Industries Corporation - Hyster-Yale Materials Handling, Inc. - E&K Automation GmbH - Seegrid Corporation - SSI Schaefer AG - Oceaneering International, Inc. For a detailed analysis of the Global Automated Guided Vehicle Market, please visit: https://www.databridgemarketresearch.com/reports/global-automated-guided-vehicles-marketThe global automated guided vehicle (AGV) market is experiencing significant growth attributed to the increasing adoption of automation in various industries. The market segmentation based on type includes tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and AGV forklifts. Tow vehicles are witnessing substantial growth due to their efficiency in transporting heavy loads within manufacturing facilities. Unit load carriers are also gaining traction for streamlining materials handling operations. AGV forklifts are crucial for enhancing productivity in warehouses and manufacturing facilities. Segmentation by navigation technology includes laser guidance, magnetic guidance, vision guidance, natural navigation, and others. Laser guidance systems are dominating the market due to their precision and reliability, particularly in indoor environments. Magnetic guidance technology is also popular for its cost-effectiveness and easy installation, making it a preferred choice for many industries. In terms of applications, the AGV market is segmented into logistics & warehousing, automotive, manufacturing, food & beverage, healthcare, and others. The logistics & warehousing segment holds a significant share due to the rising adoption of AGVs for material handling and inventory management in warehouses. AGVs play a crucial role in optimizing warehouse operations by efficiently moving goods and minimizing manual labor. The automotive industry is another key application area for AGVs, particularly for tasks like assembly line operations and material transportation. AGVs help in improving efficiency, reducing operational costs, and ensuring workplace safety in manufacturing environments. Key players in the global AGV market include Daifuku Co., Ltd., Dematic (KION Group), JBT, KUKA AG, Toyota Industries Corporation, Hyster-Yale Materials Handling, Inc., E&K Automation GmbH, Seegrid Corporation, SSI Schaefer AG, and Oceaneering International, Inc. These companies are focusing on product innovations, strategic partnerships, and acquisitions to strengthen their market position and meet the evolving demands of various industries. The competitive landscape of the AGV market is characterized by technological advancements, customization services,**Market Players** - Daifuku Co., Ltd. - Dematic (KION Group) - JBT - KUKA AG - Toyota Industries Corporation - Hyster-Yale Materials Handling, Inc. - E&K Automation GmbH - Seegrid Corporation - SSI Schaefer AG - Oceaneering International, Inc. **Additional Market Players** - Robert Bosch GmbH (Germany) - Hanwha Techwin Co., Ltd. (South Korea) - Honeywell International Inc. (U.S.) - Schneider Electric (France) - Axis Communications AB (Sweden) - Johnson Controls (Ireland) - Hangzhou Hikvision Digital Technology Co., Ltd. (China) - NetApp (U.S.) - Dahua Technology (China) - KEDACOM (China) - Verint Systems Inc. (U.S.) - LTIMindtree Limited (India) - AxxonSoft. (U.S.) - eInfochips (U.S.) - Panasonic Holdings Corporation (Japan) - Panopto (U.S.) - Backstreet Surveillance (U.S.) - Eagle Eye Solutions Group Plc. (U.S.) - Arcules, Inc. (U.S.) The global automated guided vehicle (AGV) market is currently witnessing significant growth driven by the increasing adoption of automation across various industries. The market segments based on type such as tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and Explore Further Details about This Research Automated Guided Vehicle Market Report https://www.databridgemarketresearch.com/reports/global-automated-guided-vehicles-market Regional Analysis For Automated Guided Vehicle Market North America (the United States, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) South America (Brazil, Argentina, Colombia, etc.) The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa) Why B2B Companies Worldwide Rely on us to Grow and Sustain Revenues: Get a clear understanding of the Automated Guided Vehicle Market, how it operates, and the various stages of the value chain. Understand the current market situation and future growth potential of the Automated Guided Vehicle Market throughout the forecast period. Strategize marketing, market-entry, market expansion, and other business plans by understanding factors influencing growth in the market and purchase decisions of buyers. Understand your competitors' business structures, strategies, and prospects, and respond accordingly. Make more informed business decisions with the help of insightful primary and secondary research sources. This report provides Global Automated Guided Vehicle Market : An in-depth overview of the global market for Automated Guided Vehicle Market Assessment of the global industry trends, historical data from 2015, projections for the coming years, and anticipation of compound annual growth rates (CAGRs) by the end of the forecast period. Discoveries of new market prospects and targeted marketing methodologies for Global Automated Guided Vehicle Market Discussion of R&D, and the demand for new products launches and applications. Wide-ranging company profiles of leading participants in the industry. The composition of the market, in terms of dynamic molecule types and targets, underlining the major industry resources and players. The growth in patient epidemiology and market revenue for the market globally and across the key players and Automated Guided Vehicle Market segments. Study the market in terms of generic and premium product revenue. Determine commercial opportunities in the market sales scenario by analyzing trends in authorizing and co-development deals. Related More Reports: https://dbmrnews928732.blogspot.com/2024/11/giant-cell-arteritis-drug-market.html https://dbmrnews928732.blogspot.com/2024/11/hard-coffee-market-rising-trend-in.html https://dbmrnews928732.blogspot.com/2024/11/horticulture-lighting-market-boosting.html https://dbmrnews928732.blogspot.com/2024/11/hydrogen-storage-market-innovations.html Contact Us: - Data Bridge Market Research US: +1 888 387 2818 United Kingdom: +44 208 089 1725 Hong Kong: +852 8192 7475 Email: - sopan.gedam@databridgemarketresearch.com About Data Bridge Market Research: An absolute way to predict what the future holds is to understand the current trend! Data Bridge Market Research presented itself as an unconventional and neoteric market research and consulting firm with an unparalleled level of resilience and integrated approaches. We are committed to uncovering the best market opportunities and nurturing effective information for your business to thrive in the marketplace. Data Bridge strives to provide appropriate solutions to complex business challenges and initiates an effortless decision-making process. Data Bridge is a set of pure wisdom and experience that was formulated and framed in 2015 in Pune. Data Bridge Market Research has more than 500 analysts working in different industries. We have served more than 40% of the Fortune 500 companies globally and have a network of more than 5,000 clients worldwide. Data Bridge is an expert in creating satisfied customers who trust our services and trust our hard work with certainty. We are pleased with our glorious 99.9% customer satisfaction rating. This release was published on openPR.
Saturday, December 21 is the shortest day of the year so we thought it would be a good time to appreciate the history of light bulbs. We walk into a dark room and flick a light switch and don’t think anything of it. But you are using one of the greatest inventions ever made. The light bulb led to new energy breakthroughs — from power plants and electric transmission lines to home appliances and electric motors. Research on the bulbs began more than 150 years ago and like most great inventions, the light bulb can’t be credited to one inventor. It was a series of small improvements on the ideas of previous inventors that have led to the light bulbs we use in our homes today. Here’s a timeline of key events and the evolution of our lighting. If you cannot read the graphic the text is below. You can learn more about global energy trends here. 1803 — 1809: First arc lamp created Humphry Davy demonstrated the first incandescent light to the Royal Institute in Great Britain, using a bank of batteries and two charcoal rods. Arc lamps provided many cities with their first electric streetlights. 1835: First constant electric light demonstrated James Bowman Lindsay demonstrated a constant electric light at a public meeting in Scotland. Some have credited him with being the inventor of the incandescent light bulb. 1850 — 1859: Lightning in a tube In the 19th century, two Germans discovered that they could produce light by removing almost all of the air from a long glass tube and passing an electrical current through it. Called Geissler tubes, they became the basis of many lighting technologies including fluorescent lights. 1877 — 1885: Competition for the incandescent light bulb heats up Inventors all across the world — including William Sawyer and Albon Man in the U.S. and Joseph Swan in England — worked on creating an electric incandescent lamp. 1882: Developing the lighting system Thomas Edison focused on the entire lighting grid, showing that it was possible to distribute electricity from a centrally located generator with the Holborn Viaduct in London and developing the first commercial power utility in lower Manhattan. 1901: Precursor to fluorescent lights Peter Cooper Hewitt created a blue-green light by passing an electric current through mercury vapor. The lights had few suitable uses because of the color but were one of the precursors to fluorescent lights. 1904: Out with the carbon filament and in with the tungsten In 1904, incandescent lamps with tungsten filaments appear on the European market. These bulbs lasted longer, were brighter and more efficient than lamps with carbon filaments. 1908: Edison screws Part of Edison’s contribution to the light bulb was the socket he developed, which today is called the Edison Screw. By 1908, it was the most commonly used light bulb socket used, and today, it is used for almost all residential lighting applications. 1913: Doubling the efficiency of incandescents Irving Langmuir discovered that filling a light bulb with inert gas-like nitrogen instead of vacuuming out the air doubled the light bulb’s efficiency. 1926 — 1934: Neon tubes By the late 1920s and early 1930s, European researchers were doing experiments with neon tubes coated with phosphors. Word of these experiments helped spark fluorescent lamp research in the U.S. 1951: Fluorescents overtake incandescents By 1951, more light in the U.S. was being produced by linear fluorescent lamps than incandescent — a change that was led by the need for efficient lighting during World War II. 1962: First light-emitting diode (LED) is invented While working for General Electric, Nick Holonyak Jr., invented the first visible-spectrum LED in the form of red diodes. Pale yellow and green diodes were invented next. 1973: Energy is not cheap The 1973 oil crisis marked a turning point in U.S. energy consumption because energy was no longer cheap. Researchers rose to the challenge and began developing fluorescent bulbs for residential use. 1976: Fluorescent bulbs go spiral In 1976, Edward Hammer at General Electric figured out how to bend the fluorescent tube into a spiral shape, creating the first compact fluorescent light. 1978: LEDs appear in consumer products As researchers improved red diodes and their manufacturing, companies began incorporating them into consumer products such as calculator displays and indicator lights. 1985: First compact fluorescent lamp hits the market Early CFLs hit the market in the mid-1980s and ranged from $25-$35 a bulb. 1994: First blue, then white LEDs The invention of the blue diode in the 1990s quickly led to the discovery of white LEDs. Shortly thereafter, researchers demonstrated white light using red, green and blue LEDs. This leads to development of high-definition flat screen TVs. 2000: Energy Department works to push LEDs forward In 2000, the Energy Department partnered with private industry to push white LED technology forward by creating a high-efficiency packaged LED device. 2002 — 2008: First residential LED bulb hits the market By 2008, there were just a few LED replacement bulbs on the market, and most were 25-40 watt equivalents. 2012: 49 million LED products installed In 2012 alone, more than 49 million LED products were installed in the U.S., saving about $675 million in annual energy costs. 2013: CFLs for as little as $1.74 Nearly 30 years after CFLs were first introduced on the market, their costs have dropped to as low as $1.74 a bulb. They also use about 75% less energy than incandescents and last about 10 times longer. 2013: LED costs drop dramatically Since 2008, the cost of LED bulbs has fallen more than 85%, and most recently, a number of retailers announced that they will be selling LEDs at $10 or less. Sources: U.S. Department of Energy , Edison Tech Center, The International Energy Agency, The Franklin Institute, Constellation Energy
Looking At GE Vernova's Recent Unusual Options ActivityPOET Stock Hits Over 2-Year Highs Fueled By New Manufacturing Deal: Retail Cheers
With the music industry settled into a post-pandemic routine and the halcyon days of initial public offerings in the rearview mirror, 2024 could have been a sleepy year for financial transactions. It didn’t work out that way. Instead, it was filled with the kind of large deals that changed the music business landscape. At the same time, though, many of the biggest deals were predictable. Two of the biggest catalog sales, Pink Floyd and Queen , had been shopped since 2022 and 2023, respectively. BMI’s acquisition by private equity firm New Mountain Capital was a foregone conclusion — Billboard reported the U.S. performing rights organization’s plans to sell last August, and the deal, which didn’t officially close until this year, was agreed upon in November 2023. And given the popularity of asset-backed securities (ABS) in 2024’s high-interest rate environment, there were sure to be a few big-dollar ABS deals before the end of the year. There were countless notable deals outside of the top 12, too. Universal Music Group and Warner Music Group went on a buying spree, investing in and acquiring distributors and record labels, with an eye on emerging markets. Recording artists, songwriters and producers sold their rights — often including name and likeness — to a wide range of traditional and financial buyers. Today’s abundance of financing options created a long tail of deals both big and small. JKBX launched in 2024, giving investors another place to buy shares of song rights. And distributors and financial services firms such as beatBread and RoyFi handed out royalty advances that most artists could hardly get from traditional banks. Here, Billboard highlights the dozen biggest transactions — ones that officially closed — of the year, ranked by dollar amount. Most are acquisitions. A few are purely financial transactions backed by music royalties that will fund acquisitions that generate even more royalties. Venue management doesn’t have the allure of, say, beloved classic rock catalogs, but the live entertainment business looks mighty attractive when music and sports fans are flocking to venues and eagerly paying record amounts for tickets. First announced in 2023, Legends’ acquisition of AEG’s ASM Global venue management operation finally closed in August — after Legends paid a $3.5 million civil fine for anti-trust violations. As Billboard explained in November 2023, when private equity partner Onex notified AEG it intended to sell its 35% stake in ASM Global, AEG opted to sell its stake, too. The venue management arm fits neatly into Legend’s expansive business which covers planning, ticket sales, hospitality, merchandise and partnerships. With live entertainment recovering nicely after the pandemic, the sale price was double what ASM Global was worth when AEG and Onex merged their facility management holdings to form the company in 2019. After a six-year run trading on the London Stock Exchange, shareholders of Hipgnosis Songs Fund cast votes backed by more than 99.9% of shares to sell the pioneering music royalty fund’s portfolio of songs to Blackstone. Completed in July, the deal was the culmination of a roller coaster year for shareholders and Hipgnosis’ board, which had kicked off a search for external buyers in 2023 after the fund’s prolonged low stock price and record of mismanagement drove a shareholder revolt. Blackstone’s offer paid investors $1.31 a share and valued the fund’s market cap at $1.584 billion, higher than Concord’s competing offer of $1.25 per share. The trillion-dollar global investment giant now owns Hipgnosis Songs Fund’s portfolio of 65,000 songs, the private music assets in Hipgnosis Songs Assets and Hipgnosis Song Management, the investment advisor to both portfolios. Blackstone says it is investing in data analytics, investor education and developing greater transparency and disclosures to give investors a better understanding of music as an asset class. In the second big deal of 2024 in which a public company was effectively taken private, nearly 95% of French music company Believe’s shares were acquired by a consortium of investors formed with funds from prominent venture capital firm TCV and private equity firm EQT X, along with Believe founder/chairman/CEO Denis Ladegaillerie. Having first listed on the Paris Euronext stock exchange in June 2021, the consortium offered to buy a majority of its shares at 15.00 euros ($16.10) per share in February — a 21% premium over the prior closing price — so it could “better execute on its value-creation plan and accelerate the scale-up of an independent player supporting artists and label clients ... [and] further grow and consolidate its position as a leader in the French and European markets.” Warner Music Group briefly considered acquiring Believe in March and estimated a bid of “at least” 17 euros ($18.24) per share, which would have valued the company at 1.65 billion euros ($1.8 billion). Warner backed out before making an official offer, saying it was given too brief a period to due diligence the company. Private equity firm New Mountain Capital completed its acquisition of performance rights organization BMI in February in a deal widely reported to be worth between $1.3 and $1.5 billion. The world’s largest performing rights organization is one of a few music-adjacent investments for New Mountain Capital. The New York-based investment firm with $45 billion in assets under management also owns a stake in Citrin Cooperman, which acquired Barry Massarsky’s Massarsky Consulting in 2022. As part of the deal, BMI’s affiliate songwriters and publishers were given $100 million from the proceeds of the sale this spring in recognition of their intrinsic value to BMI. In November, slightly more than three months after acquiring Hipgnosis Songs Fund’s hit-filled catalog of Red Hot Chili Peppers , Neil Young and Shakira songs, Blackstone-owned Hipgnosis Song Management (HSM) pledged those assets as collateral for a $1.47 billion music rights asset-backed security . It was HSM’s second ABS deal, and it valued the assets from the former fund’s catalog, plus an additional $700 million in debt, at around $2.3 billion. The money raised from the ABS is being used to pay down Hipgnosis’ existing debt and transaction fees and fund a reserve account, among other things. Private equity firm KKR has played in the music space for years, most notably in a catalog-acquiring partnership with BMG from 2009 to 2013 and from 2021 to the present. Catalogs had a good run, but now a good deal of smart money is pouring into live music. In the post-pandemic world of always-rising ticket prices, the concert business must look like an unmissable opportunity to an investment giant with $190 billion of assets under management and a hankering for a decent return on investment. Superstruct, founded in 2017 by Providence Equity Partners and James Barton, founder of the Liverpool nightclub Cream, organizes Budapest music festival Sziget and Wacken Open Air, the world’s largest heavy metal festival held in Germany. KKR agreed to acquire Providence’s stake in Superstruct in June for around a reported €1.3 billion ($1.39 billion). While Queen’s contemporaries took advantage of a red-hot market for classic rock catalogs, the British four-piece was a notable holdout. At the same time, the Oscar-winning 2018 biopic Bohemian Rhapsody revived interest in the band’s music, helping songs such as “Bohemian Rhapsody” and “We Will Rock You” and “Radio Ga Ga” defy the gravity — for a few years, at least — that erodes all music’s popularity over time. The waiting paid off: Had the movie been only a moderate success, Queen would have fetched a handsome sum for its music rights. But the movie was a smash hit, earning Rami Malek a best actor Oscar for his portrayal of Freddie Mercury and standing as the top-grossing music biopic of all time. From a rights holder’s point of view, the movie delivered the intended effect: Bohemian Rhapsody “turbocharged” (in the words of Billboard ’s Ed Christman ) Queen’s catalog, lifting it to a new level rather than providing a one-time, short-lived boost. That’s how Sony Music ended up paying $1.27 billion for Queen’s recorded music and publishing, making it the highest amount ever paid for an artist’s catalog. When interest rates spiked following the pandemic, music companies still binging on catalog started to raise large amounts of capital through asset-backed securities. With an ABS, a music company can pool assets such as music publishing and recorded music catalogs and sell notes backed by the royalties those assets generated. One of the larger ABS deals came in October when Concord raised $850 million from an existing ABS that ballooned to $5.1 billion after the acquisition of Round Hill Music Royalty Fund and Mojo Music. This latest ABS is backed by the royalties of publishing, recorded music and related assets by such artists as Carrie Underwood , Genesis , Phil Collins , R.E.M. and Creed . The proceeds were to be used to redeem $500 million from a series of 2023 notes and acquire approximately $217 million of assets that will be put back into the ABS’s collateral pool. Rare is a $600 million investment at a $1.2 billion valuation not the biggest catalog deal of the year. But in 2024, Michael Jackson didn’t make the biggest splash. (See Queen above.) Still, the eye-popping sum Sony Music paid for the King of Pop’s recorded music and music publishing catalogs is only half the story — literally. Sony paid $600 million for half of Jackson’s music rights, valuing the gloved one’s catalogs above $1.2 billion (and possibly up to $1.5 billion, according to some sources). The deal also excluded royalties from the Broadway play and other theatrical productions featuring Jackson’s music. While the Jackson estate was overshadowed by Queen, the superstar’s remaining 50% interest could be worth much more in the coming years. The catalog, which includes the best-selling album of all time, Thriller , is likely to get a boost in royalties in 2025 from a Jackson biopic, Michael , directed by Antoine Fuqua ( Training Day , The Equalizer trilogy) that’s currently scheduled for release in October 2025 . In March, HarborView Equity Partners raised $500 million through an asset-backed security led by global investment firm KKR. “This capital will allow us to further our mission of investing in assets and companies driven by premier intellectual property while striving to ensure that creators are appropriately valued for their contributions to the world,” CEO Sherrese Clarke Soares said at the time. In the following months, HarbourView invested in independent studio Mucho Mas Media and acquired the rights of singer-songwriter James Fauntleroy and producer-songwriter Noel Zancanella. The Newark, N.J.-based company is also financing a biopic about hip-hop pioneer Queen Latifah . Pink Floyd’s long-awaited, perpetually postponed catalog deal, first mentioned by Billboard in 2022 , finally closed in 2024 due to — or perhaps despite — the band members’ famously rocky relationship that slowed the wheels of progress. Each musician was said to have his own lawyers for the deal, which helps explain why it took until October for Sony Music to purchase a recorded music catalog that was being actively shopped for more than two years. For any buyer, though, owning a piece of the legendary psychedelic rock band is worth the wait. The $400 million deal covers a timeless recorded music catalog including the albums The Wall and The Dark Side of the Moon , as well as name, image and likeness rights, but not music publishing assets. This February, Universal Music Group invested $240 million for a 26% stake in Dundee Partners’ catalog acquisition platform, Chord Music. The novel deal means that the world’s biggest music company now manages the distribution and publishing administration for Chord’s 60,000 copyrights, and UMG can rely on its partners at Chord to help fund catalog acquisitions, thereby using less of its own money. Future catalog acquisitions will be held in Chord, which was valued at $1.85 billion after UMG’s investment. The public-private partnership — which is 74% owned by Dundee Partners, a family office run by Sam Hendel and John Chapman — is being eyed by Warner Music Group as a model for efficient capital management for catalog acquisitions. Chord’s assets include the catalog of “Halo” and “Rumour Has It” co-writer Ryan Tedder , as well as a stake in John Legend ’s “All Of Me.”
NEW YORK (AP) — U.S. stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 climbed 0.2%, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 0.3%, while the Nasdaq composite climbed 0.8% to set its own record. Treasury yields eased after the jobs report showed stronger hiring than expected but also an uptick in the unemployment rate. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are drifting around their records Friday after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation . The S&P 500 rose 0.2% and was just above its all-time high set on Wednesday. It’s rolling toward the close of a third straight winning week in what’s likely to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average was down 108 points, or 0.2%, as of 1:51 p.m. Eastern time, and the Nasdaq composite climbed 0.7%. Stocks held relatively steady as the latest jobs report strengthened expectations among traders that the Federal Reserve will cut interest rates again at its next meeting in two weeks. While the report showed U.S. employers hired more workers than expected last month, it also said the unemployment rate unexpectedly ticked up to 4.2% from 4.1%. “This print doesn’t kill the holiday spirit and the Fed remains on track to deliver a cut in December,” according to Lindsay Rosner, head of multi-sector investing within Goldman Sachs Asset Management. The Fed began easing its main interest rate from a two-decade high in September to offer more help for the slowing job market, after bringing inflation nearly all the way down to its 2% target. Lower interest rates can ease the brakes off the economy, but they can also offer more fuel for inflation. Expectations for a series of cuts from the Fed have been a major reason the S&P 500 has set an all-time high 56 times so far this year. And the Fed is part of a global surge: 62 central banks have lowered rates in the past three months, the most since 2020, according to Michael Hartnett and other strategists at Bank of America. Still, the jobs report may have included some notes of caution for Fed officials underneath the surface. Scott Wren, senior global market strategist at Wells Fargo Investment Institute, pointed to average wages for workers last month, which were a touch stronger than economists expected. While that’s good news for workers who would always like to make more, it could also keep upward pressure on inflation. “This report tells the Fed that they still need to be careful as sticky housing/shelter/wage data shows that it won’t be easy to engineer meaningfully lower inflation from here in the nearer term,” Wren said. So, while traders are betting on a nearly 90% probability the Fed will ease its main rate in two weeks, they’re much less certain about how many more cuts it will deliver next year, according to data from CME Group. For now, the hope is that the job market can help U.S. shoppers continue to spend and keep the U.S. economy out of a recession that had earlier seemed inevitable after the Fed began hiking interest rates swiftly to crush inflation. Several retailers offered encouragement after delivering better-than-expected results for the latest quarter. Ulta Beauty rallied 10.4% after topping expectations for both profit and revenue. The opening of new stores helped it boost its revenue, and it raised the bottom end of its forecasted range for sales over this full year. Lululemon stretched 17.9% higher following its own profit report. It said stronger sales outside the United States helped it in particular, and its earnings topped analysts’ expectations. Retailers overall have been offering mixed signals on how resilient U.S. shoppers can remain amid the slowing job market and still-high prices. Target gave a dour forecast for the holiday shopping season, for example, while Walmart gave a much more encouraging outlook. A report on Friday suggested sentiment among U.S. consumers may be improving more than economists expected. The preliminary reading from the University of Michigan's survey hit its highest level in seven months. The survey found a surge in buying for some products as consumers tried to get ahead of possible increases in price due to higher tariffs that President-elect Donald Trump has threatened. In tech, Hewlett Packard Enterprise jumped 10.8% for one of the S&P 500's larger gains after reporting stronger profit and revenue than expected. Tech stocks broadly were one of the main reasons the S&P 500 climbed this past week, as Salesforce and other big companies talked up how much of a boost they’re getting from the artificial-intelligence boom. In the bond market, the yield on the 10-year Treasury yield slipped to 4.16% from 4.18% late Thursday. In stock markets abroad, France’s CAC 40 rose 1.3% after French President Emmanuel Macron announced plans to stay in office until the end of his term and to name a new prime minister within days. Earlier this week, far-right and left-wing lawmakers approved a no-confidence motion due to budget disputes, forcing Prime Minister Michel Barnier and his cabinet to resign. In Asia, stock indexes were mixed. They rallied 1.6% in Hong Kong and 1% in Shanghai ahead of an annual economic policy meeting scheduled for next week. South Korea’s Kospi dropped 0.6% as South Korea’s ruling party chief showed support for suspending the constitutional powers of President Yoon Suk Yeol after he declared martial law and then revoked that earlier this week. Yoon is facing calls to resign and may be impeached. Bitcoin was sitting a little above $101,000 after briefly bursting above $103,000 to a record the day before. ___ AP Writers Matt Ott and Zimo Zhong contributed. Stan Choe, The Associated Press
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Legal AI Software Market Size & Trends To 2030Dow ends at fresh record as oil prices pull back on ceasefire hopesDrop in Boxing Day footfall ‘signals return to declining pre-pandemic levels’
Australia's S&P/ASX200 index is trading down -0.31% at 8449.00 in early trading. The major US stock indices moved lower in trading on Thursday. The small-cap Russell 2000 fell by -1.25%. The NASDAQ index declined by -0.18%, the S&P index fell by -0.19% and the Dow industrial average fell by -0.55%.TikTok's future uncertain after appeals court rejects its bid to overturn possible US ban A federal appeals court panel on Friday unanimously upheld a law that could lead to a ban on TikTok in a few short months, handing a resounding defeat to the popular social media platform as it fights for its survival in the U.S. The U.S. Court of Appeals for the District of Columbia Circuit ruled that the law - which requires TikTok to break ties with its China-based parent company ByteDance or be banned by mid-January - is constitutional, rebuffing TikTok’s challenge that the statute ran afoul of the First Amendment and unfairly targeted the platform. TikTok and ByteDance — another plaintiff in the lawsuit — are expected to appeal to the Supreme Court.CenturyLink fined for leaving Washington state customers on hold too longLaw Offices of Howard G. Smith announces an investigation on behalf of Customers Bancorp, Inc. ("Customers Bancorp" or the "Company") CUBI investors concerning the Company's possible violations of federal securities laws. On April 12, 2024, Customers Bancorp disclosed that its Executive Vice President and Chief Financial Officer, Carla Leibold, had been terminated "for ‘cause' under her employment agreement for violating Company policy." However, later that month, the Company amended this description to state that her termination "was a separation by mutual agreement" and that Ms. Leibold would be paid $2.5 million in "post-employment compensation." On this news, Customer Bancorp's stock price fell $2.40, or 4.9%, to close at $46.62 on April 15, 2024, thereby injuring investors. Then, on August 8, 2024, the Federal Reserve Board announced the execution of an enforcement action with Customers Bancorp, Inc., and Customers Bank stating that the most recent inspection of Customers Bancorp "identified significant deficiencies related to the Bank's risk management practices and compliance with the applicable laws, rules, and regulations relating to anti-money laundering." On this news, Customer Bancorp's stock price fell $7.22, or 13.3%, to close at $47.01 per share on August 8, 2024. That same day, after market hours, Customer Bancorp disclosed a consent order by the Commonwealth of Pennsylvania, Department of Banking and Securities, Bureau of Bank Supervision, which stated that deficiencies within the Company "give the Bureau reason to believe that the Bank had engaged in unsafe or unsound banking practices relating to BSA/AML Requirements[.]" On this news, Customer Bancorp's stock price fell $1.08, or 2.3%, to close at $45.93 per share on August 9, 2024, thereby injuring investors further. If you purchased Customers Bancorp securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com , or visit our website at www.howardsmithlaw.com . This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241206794663/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Please enable JavaScript to read this content. Just a day after the National Treasury released Sh5 billion for the National Government Constituencies Development Fund (NG-CDF), a proposal to save the kitty, which has since been declared unconstitutional by the courts, has been tabled at the National Assembly. Legislators Samuel Chepkonga (Ainabkoi) and Otiende Amolo (Rarieda), in a renewed bid to circumvent the court ruling, have introduced a proposal to amend the Constitution of Kenya 2010 to entrench the NG-CDF kitty and further introduce a Senate Oversight Fund. It also seeks to embed the National Government Affirmative Action Fund (NGAAF) into law. The legislative proposal, to be known as the Constitution of Kenya (Amendment) Bill 2024, was tabled in the National Assembly on Thursday, and seeks to alter the name of the kitty from the National Government Constituencies Development Fund to the National Government Constituencies Decentralized Fund in a move meant to ring-fence it and shield it from legal disruptions. “The entrenchment of the National Government Constituencies Decentralised Fund in the Constitution will ensure that the critical role the Fund currently plays in promoting the participation of the people in the identification and implementation of priority national government programmes is safeguarded, as well as ensuring reasonable access to such services in all parts of the Republic of Kenya, as envisaged in Article 6(3) of the Constitution,” reads the proposal in part. Oversight fund The proposal also advocates for the setting up of a kitty for senators, the Senate Oversight Fund, to be anchored in the supreme law of the land and which Chepkonga and Amolo argue will ensure that the Senate is adequately empowered and resourced to perform its oversight functions as stipulated in Article 96 of the Constitution. “The Senate Oversight Fund shall be a national government fund consisting of monies appropriated from the national government’s share of revenue as divided by the annual Division of Revenue Act enacted pursuant to Article 218 of the Constitution,” further reads the proposal. “The establishment of the National Government Affirmative Action Fund seeks to ensure that affirmative action groups including women, youth, persons with disabilities, vulnerable children and elderly persons have access to minimum financial facilities required for the promotion of enterprise development and provision of social development services at the constituency and county levels,” the Bill further states. Notably, the proposal comes against the backdrop of a court ruling declaring NG-CDF unconstitutional. A three-judge bench in September sounded the death knell for the kitty, noting that it had violated the separation of powers. Justices Kanyi Kimondo, Mugure Thande and Roselyne Aburili also cited failure by the National Assembly to consult the Senate as grounds for the kitty’s un-constitutionalism. They said the fund and all its projects, programmes and activities shall cease to operate on June 30, 2026. They, however, noted that it was not in the interest of the nation or justice to bring it to an abrupt closure. And during his communication to the House on Thursday, Speaker Moses Wetangula acknowledged having received the proposal by the legislators and committed it to the Departmental Committee on Justice and Legal Affairs (JLAC). “I wish to bring to the attention of the House that I have received a legislative proposal intending to amend the Constitution to entrench NG-CDF, the Senate Oversight Fund and NGAAF in the Constitution. The proposal is co-sponsored by Ainabkoi MP Samuel Chepkonga and Rarieda MP Otiende Amolo,” the speaker said. Acknowledging a similar proposal which had been introduced before the House by Matungulu MP Stephen Mule and his Gichugu counterpart Githinji Gichimu in November 2022, Wetangula explained that a joint parliamentary ad hoc committee considering the proposal had been unable to conclude its work and table a report despite a 90-day extension and that the numerous court cases on NG-CDF had prompted the introduction of the new proposal. The earlier proposal by Mule and Gichimu had sought to increase the NG-CDF kitty to at least five per cent of the total national revenue. The law currently sets aside 2.5 per cent of the total revenue raised nationally to be shared among the 290 constituencies. Each constituency receives at least Sh137 million which legislators have been using for community development projects. It had also called for the channelling of 0.001 per cent of all the national government share of revenue as divided in the Division of Revenue Act to the Senate Oversight Fund. Stay informed. Subscribe to our newsletter “This proposal and the earlier proposal introduced by Mule and Gichimu shall thereafter stand committed to the Justice and Legal Affairs committee for consideration. The committee shall expeditiously invite and consider submissions from the Attorney-General, the commissions and independent offices under Chapter 15 of the Constitution and any other body with a law reform mandate,” submitted the speaker. The JLAC committee is now expected to submit its recommendations on the proposals by February 11, 2025, when the House resumes from the two-month-long recess it is on now. Meanwhile, during the debate proceedings on Thursday, members of Parliament gave their input on the new proposal. MP Chepkonga spoke on the protracted battle between the courts and Parliament over the constitutionality of the NG-CDF kitty. “When we appeared before the three-judge bench on the NG-CDF case, it was unknown to me that the young lawyers present were beneficiaries of NG-CDF. Mr Speaker, you can see what people are seeking to do. To disenfranchise members of our communities. We must not accept this. We must entrench these funds in the Constitution to secure the future of our children,” he argued, adding: “The courts have constantly pronounced themselves in a manner we have never agreed with. Now that we are being told that NGCDF is unconstitutional, we are going to make it constitutional and nobody will ever again say it is unconstitutional.” He also credited the kitty for being behind any meaningful development at the constituencies, and, in the process, chided county governors, accusing them of being behind the “adverse” court rulings on NG-CDF. ALSO READ: Parliament moves to increase NG-CDF by Sh10b; Here's why “When you go to our constituencies, the only visible development you will be able to see is that from NG-CDF. The governors, who we actually think have had a hand in these court decisions, have not done much with all the billions they get.” Chairperson of the NG-CDF Committee, Musa Cherutich, also went out to push for the kitty. “The CDF has been very instrumental in terms of construction of schools, school fees for our children and, Mr Speaker, all those who are against it are people who are retired and do not have children in school. They should continue taking care of their grandchildren so that they can appreciate the use of NG-CDF,” Cherutich said. “Without any fear of contradiction, I can say that the only projects which make sense to Kenyans are those done at the constituency level, especially on the education and security sectors. As MPs, we are not part of the management of the CDF funds in this country. We are only patrons and play our role on oversight,” Mule held.
Wheel of Fortune contestants whiffing their bonus puzzles is nothing new, but on December 4’s episode, a player came up short on a $40,000 puzzle that left fans joking that she may never want to visit a Disney theme park again. The game show’s latest big miss involved Vandana Patel, an Indian fusion food expert from Chicago. She won the episode and proceeded to the coveted bonus round with $20,600, a trip to Florida, and the selection of “What Are You Wearing?” as her category.None
CenturyLink fined for leaving Washington state customers on hold too long
Warning over hiking apps after 'virtually identical' rescues on Vancouver North Shore VANCOUVER — The search and rescue organization for Metro Vancouver's North Shore mountains is warning people to do their research after international visitors became stranded in two separate incidents while relying on hiking apps to plan their routes Brenna Owen, The Canadian Press Dec 5, 2024 3:25 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message The search and rescue organization for Metro Vancouver's North Shore mountains says its teams recently rescued two international visitors who became stranded in rugged terrain after relying on online hiking apps without doing further research. The North Shore mountains are shown in Vancouver on Nov. 23, 2023. THE CANADIAN PRESS/Darryl Dyck VANCOUVER — The search and rescue organization for Metro Vancouver's North Shore mountains is warning people to do their research after international visitors became stranded in two separate incidents while relying on hiking apps to plan their routes. North Shore Rescue was called in on Nov. 28 to rescue a man from Norway who the organization said "seriously underestimated the difficulty" of a route marked in an online hiking app. Rescuers were back on a nearby mountain three nights later for a "virtually identical" operation, the group said in a social media post. Allan McMordie with North Shore Rescue managed the Sunday night rescue of a man at Goat Ridge, a backcountry area behind Grouse Mountain. He said the man from France told rescuers he had not been expecting snow, despite two of the local ski hills opening with fresh powder last month. "All you had to do was look at the top of the mountains from Vancouver and know there's snow up there," he said in an interview. "To be in running shoes and not even expecting any snow was pretty naive." The man had set out on a marked route, then decided to make his way through very rough, steep terrain to a separate trail at significantly higher elevation. "This is rugged backcountry," McMordie said. "It's almost impassable." McMordie could not confirm which apps the hikers in both recent rescues were using, but said a lack of any marked route or trail reports is a good indication to stop and turn around, and in any case, trip planning should involve multiple sources of information. If the man from France had done any research, McMordie said he would have discovered the backcountry area where he was rescued is closed for the winter. In both recent cases, he said there were signs at each trailhead with maps showing trails and topography, along with reminders about key steps in trip planning, he said. Both men were lucky to have been able to make 911 calls, McMordie added, as service is patchy in the area and their phone batteries had nearly run out. Above all, he said hikers should tell someone else where they're going and when they expect to return, so that person can alert local authorities if necessary. "Absolutely nobody knew where this person was and what he was doing that day," McMordie said of the man from France. "If he had not been able to get that (911) call out, he would still be there." North Shore Rescue said the course taken by the man from Norway was "barely a trail" in the summer and "nothing whatsoever" in the winter, making for "full mountaineering conditions" at this time of year. He called for help after hiking for eight hours that left him "tired, soaked (and) hypothermic" as the sun was setting," it said. It's doubtful the man would have survived the night in the Mount Seymour backcountry if he hadn't been able to make the call, the rescue group added. The man had been staying in a short-term accommodation and had taken an Uber to the trailhead. Only his girlfriend in Norway knew where he was, and he was not wearing or carrying adequate gear for the conditions, McMordie said. Vancouver-based Stephen Hui, the author of several B.C. hiking guidebooks, said the rough, mountainous terrain steps away from urban Metro Vancouver and the extent of the snowpack in winter is a surprise for many visiting hikers. Hui said online apps can be helpful and often provide commentary about trail conditions from other hikers, but it's crucial to look at additional sources of information, including complete maps and provincial and national park websites. He said local authorities and outdoor groups have some responsibility for people heading into the backcountry, and there is room for more signage and education. Ultimately, though, he said people must be responsible for themselves. "We can't handhold everybody," he said. "There's always going to be dangers in hiking." This report by The Canadian Press was first published Dec. 5, 2024. Brenna Owen, The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More National Business Police release new photos as they search for the gunman who killed UnitedHealthcare CEO Dec 5, 2024 3:50 PM Chief 'disappointed' to see clean water used as a political tactic by Conservatives Dec 5, 2024 3:34 PM Lululemon CEO sees progress in company's efforts to address past lack of newness Dec 5, 2024 3:11 PM Featured Flyer
Stocks opened higher Friday following a blowout November jobs report . While the Nasdaq Composite and S&P 500 stayed positive into the close, the Dow Jones Industrial Average was dragged down by UnitedHealth Group ( UNH ). By the numbers, the Nasdaq gained 0.8% to 19,859 and the S&P 500 added 0.3% to 6,090, new record closing highs. The Dow, however, slipped 0.3% to 44,642 as UNH shares slumped 5.1%. The fatal shooting earlier this week of the CEO of UnitedHealth's insurance unit has sparked unrest over the company's business structure and how it treats claims, sending the blue chip stock down 10% on the week. At roughly $550 a share, UnitedHealth has the greatest influence on the price-weighted Dow, which is why the 30-stock index closed lower on a weekly basis. The Nasdaq and the S&P 500, on the other hand, extended their weekly win streaks to three. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of expert advice - straight to your e-mail. Lululemon, Ulta climb after earnings In other single-stock news, several retailers reported strong earnings, including Lululemon Athletica ( LULU ) and Ulta Beauty ( ULTA ). LULU stock surged 15.9% after the athleisure apparel maker beat top- and bottom-line expectations for its fiscal third quarter and raised its full-year outlook. William Blair analyst Sharon Zackfia has an Outperform (Buy) rating on Lululemon "given the strength of the brand, international momentum, and significant opportunity to grow domestic brand awareness." The analyst says that "efficiencies and benefits from changes to its product organization to better balance design and merchandising" have Lululemon "on track to return to historical levels of product freshness no later than spring 2025." She also calls the company's fourth-quarter guidance "conservative" and "beatable." ULTA shares rallied 9.0% after the cosmetics retailer's beat-and-raise quarter . It has been a rough stretch for the consumer discretionary stock , which remains X% lower for the year to date. Still, most of Wall Street is bullish. "We continue to look favorably on ULTA's long-term prospects," says Oppenheimer analyst Rupesh Parikh , who has an Outperform (Buy) rating on the stock. Among the many reasons Parikh is upbeat are the company's "differentiated offering and unique value proposition," its "potential to deliver above-average growth rates in retail" and ULTA's "ongoing market share potential." Hewlett Packard pops on earnings beat Hewlett Packard Enterprise ( HPE ) was also included among the best S&P 500 stocks today, jumping 10.6% after the tech giant reported higher-than-expected fiscal fourth-quarter results thanks to solid demand for its artificial intelligence (AI) servers. Even though HPE is up 41% for the year to date, Stifel analyst Matthew Sheerin thinks the shares are "undervalued given the company's broad portfolio of enterprise infrastructure hardware, software, and services." Sheerin believes AI servers will be "a key driver of topline growth heading into fiscal 2025" and anticipates "gross margin to improve on mix and increased attachment of software and services." November jobs report comes in strong The real focus of today was on the labor market. Ahead of the opening bell, the Bureau of Labor Statistics said the U.S. added 227,000 jobs in November, exceeding economists' expectations for 220,000. The unemployment rate edged higher to 4.2% from 4.1% the month prior. "These data clear the path for the Federal Reserve to further reduce the policy rate in December – nothing in these jobs data supports a pause in normalization," says Jamie Cox , managing partner at Harris Financial Group. "The labor market has stabilized and remains stronger than all of the naysayers have led people to believe," Cox writes. "A stable labor market supports a strong consumer-based economy, and that's exactly what the data have shown all year long." According to CME Group's FedWatch tool , futures traders are now pricing in an 85% chance the central bank will cut rates by a quarter-percentage point at its meeting later this month – up from 71% one day ago. Also on the economic calendar was the University of Michigan's Consumer Sentiment Index , which rose to 74 in December from 71.8 in November. This marks the index's fifth straight monthly gain and its highest reading in seven months. Related content Earnings Calendar and Analysis for December 9-13 Stock Market Trading Hours: What Time Is the Stock Market Open Today? Best Books to Buy to Start InvestingOn Saturday at 3 p.m. ET, Cole Gonzales and the Western Carolina Catamounts (6-5) will take on the Samford Bulldogs (4-6). Below we dive into all of the info you need before this contest starts, including how to watch on ESPN+. Watch college football live without cable. Stream ACC, SEC, ESPN and more with Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Start your risk free trial today and start watching college football games now. Stop missing games and start streaming college football right now on Fubo. Stop missing games and start streaming college football right now on ESPN+. Get tickets for any college football game this season at Ticketmaster. Rep your favorite players with officially licensed gear. Head to Fanatics to find jerseys, shirts, hats, and much more.