El Salvador Congress votes to end ban on metal miningPremier League forced to release two Man United VAR statements in freak Ipswich drama
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Food Preservatives Market Growth Size and Detailed Insights With Company Profile (2024-2031) | Akzo Nobel N.V, Archer Daniels Midland Company, BASF SE, Cargill, Inc.Nissan, Honda to attempt merger that would create the world's No. 3 automaker TOKYO— Japanese automakers Nissan and Honda have announced plans to work toward a merger that would catapult them to a top position in an industry in the midst of tectonic shifts as it transitions away from its reliance on fossil fuels. The two companies said they signed an agreement on integrating their businesses on Monday. Smaller Nissan alliance member Mitsubishi Motors agreed to join the talks. News of a possible merger surfaced earlier this month. Japanese automakers face a strong challenge from their Chinese rivals and Tesla as they make inroads into markets at home and abroad. Magdeburg mourns Christmas market attack victims as fears swirl MAGDEBURG, Germany — Mourners are laying flowers near the scene of the deadly Christmas market attack as investigators puzzle over the motive of the suspect and his previous encounters with authorities are scrutinized. At the same time there are fears that the rampage could deepen divisions in German society. A church a short walk from the scene of the attack has become a central place of mourning since the suspect drove a car into the busy market on Friday evening and killed five people. Authorities have identified the suspect as a Saudi doctor who arrived in Germany in 2006 and had received permanent residency. They say he doesn't fit the usual profile of perpetrators of extremist attacks. Nordstrom to be acquired by Nordstrom family, Mexican retail group Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. Nordstrom shareholders will receive $24.25 in cash for each share of Nordstrom common stock, representing a 42% premium on the company’s stock as of March 18. Nordstrom’s board of directors unanimously approved the the proposed transaction, while Erik and Pete Nordstrom — part of the Nordstrom family taking over the company — recused themselves from voting. Following the close of the transaction, the Nordstrom Family will have a majority ownership stake in the company. Bethlehem plans somber Christmas under shadow of war BETHLEHEM, West Bank — The city of Bethlehem in the Israeli-occupied West Bank, the traditional birthplace of Jesus, will not have the usual trappings of the city's favorite holiday: no public Christmas tree, no raucous scouts march, no decorations and no twinkling lights, in deference to the ongoing war in Gaza. As Bethlehem prepares to mark its second Christmas under the shadow of the war, Manger Square is empty of tourists and many businesses aren’t sure how much longer they can hold on. Spurred by 50 percent unemployment caused by lack of tourism and Israel's decision to bar most Palestinians from working in Israel, hundreds of desperate families have left Bethlehem in the past year. Some families are trying to find joy in old traditions wherever they can. Girls will be part of St. Paul's Cathedral choir on Christmas Day LONDON — For the first time in its 900-year history, girls will form part of the choir performing at the Christmas Day service on Wednesday at London’s majestic St. Paul’s Cathedral. The choir, which is made up of both adult and child choristers, will perform at services on Christmas Day under the 365-foot dome of the cathedral, designed by architect Christopher Wren after the 1666 Great Fire of London destroyed its medieval predecessor and much of the surrounding old city. The first two girls to become full choristers officially joined the choir in June. In the ruins of a bombed-out church, there's now a tiny Christmas tree DARDGHAYA, Lebanon — A Christmas tree stands among the fallen stones in the ruins of a Catholic church in southern Lebanon that was hit by an Israeli airstrike during the war with Hezbollah. It's a small and modest tree. There are no lights because the war destroyed power lines. The ground is too uneven to set up the Nativity scene. The priest says his blood pressure went up and he lost his balance when he saw the church's destruction. Now he leads Mass in an underground room that serves as a temporary worship space. He tells the community it “is more like the cave where Jesus was born.” It's time to celebrate holidays in Zimbabwe by unveiling a tombstone HARARE, Zimbabwe — Some of the most festive times of Zimbabwe's holiday season occur around the unveiling of tombstones for late relatives. The generations-old rite has come to be associated with long holidays such as Christmas in the southern African nation. The weakened economy leaves many people struggling to do their duty of honoring the dead. Zimbabweans traditionally use such holidays for the graveyard rites that include song, dance, Christian prayers or invitations for ancestral spirits to protect and guide the living. Many believe such ceremonies can bring blessings — but neglect them too long and a curse could result. Elaborate holiday light displays are making spirits bright in a big way CONCORD, N.H. — Tiny tots with their eyes all aglow might be enough to brighten some homes this holiday season. But others are adorned with thousands of blinking lights synched to blasting music. In Mesa, Arizona, 14 homeowners have been going all-out on holiday lights for 30 years, and those buying homes in the neighborhood often find the attics full of décor left behind by previous owners. In Santa Clarita, California, residents began coordinating their holiday lights to bring some joy to their community after an earthquake. And in Edmond, Oklahoma, those looking to the western sky will easily spot the Miranda family’s elaborate display featuring images and music from the movie “Wicked.” Santa braves heat of the Amazon to bring gifts to children in Brazil CATALAO, Brazil — Santa Claus has braved the sticky heat of the Amazon rainforest this weekend, taking two boats to bring gifts to the children of a small village near the Brazilian city of Manaus. The visit was arranged by Amigos do Papai Noel, a Brazilian charity that has been taking gifts to children in the Amazon rainforest for the past 26 years. More than 600 children from different villages gathered in Catalao to receive presents from Santa, who dressed in his traditional nightcap, white gloves and red suit, while enduring the stifling jungle heat.
‘CSR, Human Capital Development Pivotal For Nigeria’s Development’ – AdebolaATLANTA (AP) — A judge is weighing whether a Georgia state Senate committee has the right to subpoena testimony and documents from Fulton County District Attorney Fani Willis as it looks into whether she has engaged in misconduct during her prosecution of President-elect Donald Trump. The Republican-led committee sent subpoenas to Willis in August seeking to compel her to testify at its September meeting and to produce scores of documents. The committee was formed earlier this year to examine allegations of “various forms of misconduct” by Willis, an elected Democrat, during her prosecution of Trump and others over their efforts to overturn the former president’s 2020 election loss in Georgia. Willis' attorney, former Democratic Gov. Roy Barnes, told Fulton County Superior Court Judge Shukura Ingram during a hearing Tuesday that although the Georgia General Assembly has subpoena power, that power is not automatically conferred on a single legislative chamber or its committees. Even if the committee did have such power, he argued, the subpoenas in question are overly broad and not related to a legitimate legislative need. Barnes said the focus on Willis and her investigation into Trump shows that the committee was politically motivated and not a legitimate inquiry into the practices of district attorneys' offices: “What they were trying to do is chill the prosecution of Donald Trump and find out what they had.” Josh Belinfante, a lawyer representing the lawmakers, said there is nothing in the Georgia Constitution that prohibits the Senate from issuing a subpoena. The duly formed interim committee is looking into whether new legislation is needed to regulate the practices of district attorneys' offices in the state, he argued. “They are investigating and making an inquiry into these allegations that may show that existing state laws, including those establishing the processes for selecting, hiring and compensating special assistant district attorneys, are inadequate,” Belinfante said. The resolution creating the committee focused in particular on Willis’ hiring of special prosecutor Nathan Wade , with whom she had a romantic relationship , to lead the prosecution against Trump and others. It says the relationship amounted to a “clear conflict of interest and a fraud upon the taxpayers” of the county and state. One of the committee’s subpoenas orders Wills to produce documents related to Wade, including documents related to his hiring and payment, documents related to money or items of value that Wade and Willis may have exchanged, text messages and emails between the two, and their phone records. The committee also requested any documents her office sent in response to requests from the U.S. House, as well as communications Willis and her office had with the White House, the U.S. Justice Department and the House relating to the 2020 presidential election. And they asked for documents related to federal grant money Willis’ office has received. Before the deadlines in the subpoenas, Willis challenged them in court. Willis’ challenge was pending in mid-September when she skipped a hearing during which the committee members had hoped to question her. In October, the committee asked Ingram to require Willis to comply with the subpoenas. The committee’s lawyers wrote in a court filing that Willis’ failure to do so had delayed its ability to finish its inquiry and to provide recommendations for any legislation or changes in appropriations that might result. Barnes also argued that once the regular legislative session has adjourned, which happened in March this year, legislative committees can meet to study issues and come up with recommendations but do not have the power to compel someone to appear or produce documents. Belinfante rejected that, saying the state Constitution expressly permits the creation of interim committees and allows them to make their rules. Even if these subpoenas were validly issued, Barnes argued, they ask for too much, including private and personal information that is not a legitimate target of a legislative subpoena. Belinfante said the lawmakers are simply trying to do their jobs. He asked that Willis be ordered to appear before the committee in early January. He also asked that she be ordered to provide the requested documents and explain what privilege justifies any that are excluded. With a glaring lack of state case law on the issue of the General Assembly's subpoena power, that's one issue Ingram will have to address. She said she will consider the arguments and release her order as soon as she can. Willis and Wade have acknowledged that they had a relationship but have said it began after he was hired and ended before the indictment against Trump was filed. Trump and other defendants argued that the relationship created a conflict of interest that should disqualify Willis and her office from continuing with her prosecution of the case. Fulton County Superior Court Judge Scott McAfee ruled in March that Willis’ actions showed a “tremendous lapse in judgment,” but he did not find a conflict of interest that would disqualify Willis. He said she could continue her prosecution as long as Wade stepped aside, which he did. Trump and others have appealed that ruling to the Georgia Court of Appeals, and that appeal remains pending.
Recent World Bank data provides another endorsement of Prime Minister Anthony Albanese ’s economy, as Alan Austin reports. EXPORTERS FOUND 2023 to be a tough year. They were hit badly by low global economic growth, supply chain disruptions due to regional wars and high transport costs. Of the 35 advanced countries in the Organisation for Economic Cooperation and Development ( OECD ) who reported last year’s exports to the World Bank , only three increased exports relative to gross domestic product (GDP) over 2022. Of these, Australia’s expansion was the strongest. This is another global win for the Albanese Labor Government. It follows the strong fiscal results recorded by the International Monetary Fund here and on employment as analysed here by I A colleague Stephen Koukoulas . These achievements stand in stark contrast to the ever-increasing list of the world’s worst outcomes that piled up under the Coalition. World Bank affirms Australia’s ascendancy The World Bank’s development indicators show export and import outcomes for 138 economies from 1974 to 2023. A surge in Australia’s exports occurred from 1984 through to 2001 as a result of the Hawke/Keating Administration freeing up the economy. See chart below. (Data source: World Bank ) From just $22.0 billion in sales to trading partners in 1983, the year Bob Hawke won office, exports surged to $76.9 billion by 1996 when Labor under Paul Keating lost office, then continued to climb to $123.4 billion by 2001. That was an impressive 22.2% of gross domestic product (GDP) — an all-time high. The Rudd Government then hit another high of 23.0% of GDP in 2009, when total annual exports clicked over $200 billion. Trade surged again in 2023 as the result of Labor’s commitment to regional collaboration , restoration of fractured relationships with neighbours, cutting tariffs and better economic management overall. The World Bank measured Australia’s 2023 exports at a record 26.7% of GDP. Australia returns as global leader As was shown during the disastrous Global Financial Crisis of 2008 to 2013, Australia’s Labor Party has an extraordinary gift for navigating troubled international waters. Of the 35 advanced OECD member economies for which the World Bank has recorded last year’s export volumes, 17 experienced a decline. These include normally robust economies Ireland, Germany, the United Kingdom, Netherlands and Belgium. Only 18 increased their exports over the previous year. Just four managed an improvement of more than 5%. Australia ranked third with 6.5% behind Denmark and Costa Rica. See chart below. (Data source: World Bank ) Australia ranking third in the OECD on exports growth in 2023 contrasts with ranking 16th out of the 35 members under the Coalition in 2017, 19th in 2018 and dead last in 2021. Labor’s winning courtships Australia has recently signed or affirmed trade deals with the United Kingdom , India , Thailand , New Zealand and the United Arab Emirates , and has strengthened trade alliances elsewhere. Exports to Bahrain surged from an average of $982 million each year through the Coalition period to an impressive $1,921 million in the twelve months to September this year. Bahrain buys alumina, meat, dairy products and wheat. Mexico, which imports Australian cereals and other agricultural products, was even more impressive. Sales over the eight Coalition years from 2014 to 2021 averaged $346 million per year. This surged in the year to September 2023 to a thumping $952 million, which was almost equaled in the year to September 2024, at $934 million. Other countries currently buying record values of Australian goods include the USA, Switzerland, Hong Kong, Indonesia, Brunei, Fiji and the United Arab Emirates. Trump's tariffs and their effect on the Australian economy Trump's tariffs will hurt the Australian economy and lead to trade tensions. Rupert seeking Rudd’s removal The mainstream newsrooms know Australia’s economy is now advancing strongly and rapidly climbing the global tables. They are determined to conceal this from their audiences so that the corrupt and incompetent Coalition can return to serve the rich and powerful corporate sector. Sadly, this is normal. What is abnormal is the current frenzied campaign by Rupert Murdoch ’s global media to undermine Australia’s relations with the USA, discredit the Labor Government and destroy the career of former Prime Minister Kevin Rudd . News Corp , with the help of Australia’s craven Opposition Liberal Party and other media organisations, including ABC News , is lobbying to get Albanese to sack his Ambassador to the USA, or the incoming Trump Administration to expel him. Recent headlines at Sky News include: ‘ PM must decide whether Kevin Rudd is “capable” of handling Australia-U.S. relations ’ ; and ‘ New call to sack Australia's U.S. ambassador over Kevin Rudd's record of “slagging off” Republican nominee Donald Trump ’ . The campaign is now global, with Murdoch’s New York Post declaring: ‘Australia’s U.S. Ambassador Kevin Rudd faces calls to resign over disparaging anti-Trump comments’. As comedian and social analyst Jordan Shanks explains brilliantly here , News Corp is seeking revenge for Rudd’s earlier crusade in Australia, together with former Coalition PM Malcolm Turnbull , to restrict the damage done by Murdoch’s continual malicious lies . Facts and figures confirm Murdoch’s minions are continually lying to you News Corp in Australia systematically distorts the ‘news’ it publishes, this time on bankruptcies. News Corp has dredged up critical comments Rudd made before he became Ambassador, including that Trump was “the most destructive president in history” , “a traitor to the West” , “a village idiot” and “incompetent” . Harsh, yes, but accurate. Chances of Murdoch succeeding are low given Trump’s closest buddies have been far more scathing of him. These include JD Vance , Elon Musk , Lindsey Graham and Marco Rubio . Clearly, Trump loves converts. Rudd is certainly capable of a form of words to heal any rift, if there was one. So we will see what happens when Trump takes office. Meanwhile, Australians can be mightily satisfied with Ambassador Rudd’s achievements so far. Exports to the USA hit a thumping $6,210 million in the September quarter, up 24.3% on the same period two years ago and an all-time high for any quarter. Now that’s what should be reported! Alan Austin is an Independent Australia columnist and freelance journalist. You can follow him on Twitter @alanaustin001 . This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Australia License Support independent journalism Subscribe to IA. Related Articles ‘Labor big spenders’ myth can finally be laid to rest Cost of Australia's wildlife destruction immeasurable Good global citizenship benefits everyone, especially the good global citizen Albanese Government covers for Coalition in ASIC corruption probe CARTOONS: 'Made in Australia' is trending POLITICS MEDIA INTERNATIONAL ECONOMICS ALBANESE GOVERNMENT World Bank Australian economy Auspol OECD International Monetary Fund IMF Labor Party exports Global Financial Crisis Share ArticleTRENTON, N.J. -- New Jersey interim Sen. George Helmy, a Democrat appointed when Bob Menendez resigned after a federal corruption conviction , is stepping down this weekend so Sen.-elect Andy Kim can be sworn in early. The move was expected and confirmed what Helmy and Democratic Gov. Phil Murphy announced during his appointment this summer — that Helmy would resign early so the winner of November's election could get into office before the start of the new session of Congress next month. Murphy explained the arrangement, saying he wanted the “democratically chosen winner” of this year's election to have a smooth transition into office. Kim defeated Republican businessman Curtis Bashaw on Election Day. He'll become the first Korean-American in the Senate when he is sworn in on Monday. Helmy is a former chief of staff to Murphy and has said he wasn't interested in pursuing elected office. He counted voting to confirm 20 judicial nominations and resolving more than 100 constituent cases as some of his accomplishments in little more than two months in office. Helmy said he's been working closely with Kim since his election in November to “ensure a seamless transition.” Menendez, 70, used his influence to meddle in three different state and federal criminal investigations to protect the businessmen, prosecutors said. They said he helped one bribe-paying friend get a multimillion-dollar deal with a Qatari investment fund and another keep a contract to provide religious certification for meat bound for Egypt. Menendez has vowed to fight the conviction and recently filed for a new trial , citing improper evidence that was put on a computer used by jurors.
This RGB-IR In-Cabin camera module is a component designed for installation inside vehicles and can be mounted in various locations, such as on the rearview mirror or above the front of the passenger seat. It can detect various aspects of the driver's condition, such as drowsiness or inattention, and enables real-time monitoring of the conditions of passengers as well, such as whether seat belts are being used in the front and second rows. The key to autonomous driving is ensuring the safety of drivers, passengers, and pedestrians. Alongside exterior components, such as camera modules for Autonomous Driving (AD) and Advanced Driver Assistance Systems (ADAS) and Light Detection And Ranging (LiDAR) systems, the industry is increasingly focusing on In-Cabin cameras to monitor passengers. Of particular note is that Europe has mandated the installation of Driver Monitoring Systems (DMSs) in vehicles starting in 2025, and other major countries, including the United States and Japan , are considering similar requirements. As a result, global automakers are increasingly adopting In-Cabin cameras. In contrast, "LG Innotek's RGB-IR In-Cabin camera module" can perform various functions with a single camera. Installed with a high-resolution RGB-IR sensor, it captures red, green, and blue visible light as well as infrared wavelengths, offering a wider viewing angle through the company's unique wide-angle technology. With a resolution of five megapixels, five times higher than conventional cameras, "LG Innotek's RGB-IR In-Cabin camera module" delivers clearer images for more accurate occupant monitoring. It also supports entertainment features such as video calls and conferencing, which are expected to become more relevant as autonomous driving advances. Additionally, its ability to detect infrared rays allows it to clearly recognize subjects in dark environments, enabling accurate monitoring of occupants even at night, when identifying driver drowsiness is most needed. The "RGB-IR In-Cabin camera module" also boasts a Horizontal Field Of View (HFOV) that is more than double that of earlier models. LG Innotek has applied its proprietary wide-angle technology to support a HFOV of 143 ̊, expanding the scope of monitoring. This offers visibility of both front-row and second-row seats from various angles. The company applied the "wedge bonding" process to minimize the size of the product. Wedge bonding is a technology that uses ultrasonic energy to attach chips and substrates. In the past, the chips used in the module had to be secured to Printed Circuit Boards (PCB) by applying heat to the joint, with a "heating block" added to the bottom of the PCB board to keep it heated. Wedge bonding eliminates the need for such components and reduces the size of the module by eliminating the need for space for the heating block. Looking ahead, LG Innotek will continue to introduce, based on its world-leading optical technology, high-value products such as an "all-weather high-performance camera module" with high-performance heating and cleaning functions. By offering exclusive customer value, the company plans to accelerate its seizure of market leadership. LG Innotek CEO Moon Hyuksoo said , "The vehicle sensing solutions business, including camera modules and LiDAR, is a core pillar of LG Innotek's business in autonomous driving components." He went on to add, "We are committed to growing our vehicle sensing solutions business to USD 1.4 billion business by 2030." According to market research firm S&P Global, the global automotive camera module market is projected to grow from approximately USD 6.923 billion in 2023 to USD 10.769 billion by 2030, showing an average annual growth rate of 7%. LG Innotek will unveil its "RGB-IR In-Cabin camera module", along with its latest innovations, at the Consumer Electronics Show (CES) 2025 in Las Vegas in January next year. LG Innotek's high-performance in-cabin camera module LG Innotek employees demonstrate the high-performance in-cabin camera module LG Innotek employees demonstrate the high-performance in-cabin camera moduleFormer Miss India trapped in cyber scam: Rs 99,000 lost through fake digital arrest
F1 Hangover: An insider's guide to the glitz, glam, and goings-on off track in Vegas
NEW YORK and SAN FRANCISCO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Nasdaq Private Market (NPM) , a leading provider of secondary liquidity solutions to private companies, employees, and investors, announced today that it has promoted Rotem David , Parul Dubey, Sharif Khaleel , and Chris Setaro to new roles on its Executive Leadership Team. Rotem David has been promoted to Chief Product and Technology Officer (CPTO) . At NPM, he is an active member of the company's Executive Leadership Team. In Mr. David's new role, he will lead NPM's product and technology divisions worldwide, responsible for setting and executing the product roadmap as well as effectively bridging the gap between product vision and technical feasibility. He will oversee tech infrastructure, engineering, QA, and product. Mr. David has spent more than 10 years building out NPM's portfolio of products which offers liquidity and data across various transaction and client types. Prior to NPM, he held lead engineering roles at SecondMarket and Nasdaq, Inc and is credited with helping to pioneer the first tender offer solution revolutionizing the way private companies provide secondary liquidity to their shareholders. Parul Dubey has been promoted to Managing Director and Head of the Private Client Group . In her new role, she now joins the Executive Leadership Team. Ms. Dubey will lead the development of NPM's retail business to service individuals, family offices, and mid-sized entities. Previously, she was General Manager of the Capital Markets division, where she helped build the business from inception. Ms. Dubey was instrumental in launching several capstone products, including buy-side auctions and SecondMarketTM. Prior to NPM, she worked at Wellington Management as an Investment Specialist responsible for global fund launches and distribution for private equity and healthcare hedge funds. Ms. Dubey also held investment roles at a buyout firm and served on the Board of Steven Feller P.E. (a portfolio company). She started her career at PIMCO, servicing managed separate accounts for sovereign wealth funds, central banks, and family offices in the Middle East and Africa. Sharif Khaleel has been promoted to Managing Director and Head of Institutional Trading . At NPM, he is an active member of the company's Executive Leadership Team. In his new role, Mr. Khaleel will lead the trading desk, overseeing relationships with institutional clients and broker-dealers. He has nearly 25 years of financial services experience. Prior to NPM, Mr. Khaleel was a Managing Director at Zanbato, where he specialized in executing institutionally sized blocks of private securities. Earlier in his career, he served as a Senior Portfolio Trader at BNY Mellon. Mr. Khaleel has also held various roles on the buy side, including Derivatives and Risk Analyst at Stillwater Investment Management, Senior Trader at Farallon Capital Management, and International Portfolio and Macro Trader at BlackRock, where he spent over four years. Chris Setaro has been promoted to Chief Compliance, Regulatory, and Risk Officer . At NPM, he is an active member of the company's Executive Leadership Team. Mr. Setaro will now oversee all compliance, regulatory affairs, and risk management functions for the company worldwide. Prior to NPM, he was a Senior Vice President and the Head of Global Risk at Forge Global Inc. Previously, Mr. Setaro was the Global Chief Compliance Officer of SharesPost, Inc. and Chief Compliance Officer for its broker-dealer subsidiary SharesPost Financial Corporation. Earlier in his career, he was a Vice President at Nasdaq, Inc. serving as the Chief Compliance Officer for several of its broker-dealers. "As our business continues to evolve, we are focused on adding talented people and valuable resources to strengthen our company and core products. I am confident that Rotem, Parul, Sharif, and Chris will each position us for continued success and accelerate our ambitions to be a key partner to participants across the private market ecosystem," said Tom Callahan, Chief Executive Officer, Nasdaq Private Market . "I am proud of their commitment to NPM thus far and look forward to their future contributions." NPM partners with some of the world's fastest-growing, venture-backed private companies to facilitate company-sponsored liquidity programs. Its electronic SecondMarket TM trading marketplace is gaining adoption by sellers and buyers who trade private company shares. The company's Transfer and Settlement product efficiently manages share transfer activity from match through settlement for some of the most sophisticated private companies and investors. Its private market premium data product Tape DTM helps investors and entities better evaluate global investment opportunities. As an industry-leading provider in the secondary market, NPM has executed $55+ billion in transactional value across 760+ company-sponsored liquidity programs for venture-backed private companies as well as 200,000+ individual eligible shareholders and investors. About Nasdaq Private Market Nasdaq Private Market provides liquidity solutions for private companies, employees, and investors throughout each stage of the pre-IPO lifecycle. In 2013, the company was founded within Nasdaq, Inc. Today it is an independent company with strategic investments from Nasdaq, Allen & Company, Bank of America, BNP Paribas, Citi, DRW Venture Capital, Goldman Sachs, HiJoJo Partners, Morgan Stanley, UBS, and Wells Fargo. Learn more at www.nasdaqprivatemarket.com . Visit LinkedIn and X for the latest company news. Media Contacts Nasdaq Private Market Amanda Gold Chief Marketing Officer Amanda.Gold@npm.com Disclosures and Disclaimers NPM is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner and does not offer legal or financial advice to any user of the NPM website or its services. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, and member FINRA/SIPC. Transactions in securities conducted through NPM Securities, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC. Please read these other important disclosures and disclaimers about NPM found here: https://www.nasdaqprivatemarket.com/disclosures-disclaimer/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.NORTH CHARLESTON — "Christmas comes early for South Carolina," said Senator Lindsey Graham, celebrating president-elect Trump's pick for Treasury secretary. The choice, native South Carolinian Scott Bessent, will be of "enormous benefit" to the people of the state and nationwide, Graham added. President-elect Donald Trump named Bessent his nominee for leader of the U.S. Department of Treasury on Nov. 22 after several weeks of candidate interviews and indecision. Bessent beamed when waving to reporters inside a conference room Nov. 24 at the Charleston International Airport. He shook hands with Graham before departing. Bessent did not take questions from reporters. "[Bessent] has the best combination of academic credentials and real world experience," said Graham. After speaking with both Bessent and Trump, Graham believes they have an agenda that can bring the U.S. economy into what Graham calls a "golden age." Born in Conway and a longtime resident of Charleston, Bessent knows South Carolina economy and "knows how we can fit in," Graham said. "He will be President Trump's right-hand man to jumpstart the American economy and to deal with bad actors throughout the world," he said. U.S. Sen. Lindsey Graham speaks with reporters after introducing Scott Bessent, President Donald Trump’s nominee for Secretary of the Treasury of the United States, at a press conference at Charleston International Airport, Sunday, Nov. 24, 2024, in North Charleston. Bessent, 62, has long been a front-runner for the position, as he served as a close financial advisor to Trump during the campaign and raised millions for his reelection. Bessent has also been a vocal critic of President Joe Biden’s economic plan, according to prior reporting from The Post and Courier . The road to becoming Trump’s pick for treasury secretary was rocky, with several candidates causing shake ups, one placing a last-minute bid for the post. When concerns around Bessent’s ties to liberal megadonor George Soros arose, Elon Musk endorsed Trump’s transition team co-chair and Wall Street businessman Howard Lutnick on his social media website X. In the X post , Musk called Bessent a “business as usual” pick, arguing that America needs a change to avoid future economic failures. A few others were considered for the post, including former Federal Reserve Board of Governors member Kevin Warsh and Wall Streeter Marc Rowan, according to The New York Times and other outlets. "South Carolina could not be in better shape," Graham said. There are premier, worldwide businesses stationed in the state, like Boeing and BMW, that can greatly benefit from having a S.C. native chairing initiatives in national economy, according to Graham. Trump promised he would pardon Jan. 6 Capitol rioters. Here's what that means for 34 in SC. Aside from lowering inflation and handling the national debt — some of Graham's perceived biggest priorities for the coming administration — using the Treasury Department to influence foreign policy will be "indispensable," Graham said. He also asserted that implementing foreign tariffs will play a key role in discouraging illegal immigration and holding other countries accountable. Scott Bessent (left), President Donald Trump’s nominee for Secretary of the Treasury of the United States, stands with U.S. Sen. Lindsey Graham before a press conference at Charleston International Airport, Sunday, Nov. 24, 2024, in North Charleston. "We can create carrots for allies and sticks for the bad guys," Graham said, explaining that import tariffs on goods obtained from other countries can create "economic pressure." Graham wants to see Trump increase tariffs on oil purchased from Iran, "the largest state sponsor of terrorism on the planet." Similarly, Graham hopes that the Treasury Department can help reduce fentanyl poisoning by enacting policies to hold Mexico accountable; "If they don't work with us, they need to pay a heavy price," he said. Soybean, corn tariffs and mass deportations could cost SC farmers who backed Trump The future administration should use tariffs as a "tool to change behavior," Graham said. He hopes to use his role as chairman of the Senate Budget Committee to embolden Treasury initiatives. "I intend to be very aggressive when it comes to locking in Trump economic policies through budget reconciliation," Graham said. Budget reconciliation can allow for policy changes within certain parameters without any democratic party votes, Graham said. Budget chairman will be "one of the most important jobs I've ever had," Graham said. He intends to draft a budget reconciliation bill that will keep tax cuts from expiring and forward fund money to secure the border, he said. In part, Graham is adamant in his hope for an end to conflict between Israel and Palestinians and peace between Israel and Saudi Arabia. South Carolina industry has a "unique opportunity" to be a part of a changing and newly-emerging economy in the Middle East, said Graham. He credits Saudi Arabian development of new airlines, and their subsequent purchase of around $38 billion worth of Charleston-made Boeing 787 airplanes , as the beginning of a "tremendous" economic opportunity. Graham said he is working with the Biden administration and is coordinating with the Trump administration. Graham will soon be departing for a trip to Saudi Arabia and Israel to meet with the Crown Prince and elected Israeli officials, his eighth or ninth visit since October 2023, he said.
MICROCHIP Technology is pausing its application for US semiconductor subsidies, sources familiar with the matter said, making it the first known company to step back from a programme designed to revitalise American chipmaking. The struggling chipmaker was in line for US$162 million in grants from the Chips and Science Act to support plants in Oregon and Colorado. Since then, it’s furloughed workers twice at facilities in Oregon and announced plans to shut down a factory in Arizona, affecting around 500 employees. “We are in communication with Microchip on their Chips process and continue to have productive conversations with them about their long-term plans,” said a spokesperson for the Commerce Department, which is in charge of Chips Act implementation. Microchip’s decision is a blow to Biden officials racing to finalise awards from the landmark bipartisan law. Officials have announced preliminary deals with more than 20 companies, and inked final agreements with six – including major players such as Intel and Taiwan Semiconductor Manufacturing Company. BLOOMBERGAfter nearly three months in office, the outlook for the Paetongtarn Shinawatra government is likely to be influenced by several anticipated new stimulus proposals that are expected to be revealed in unison. The National Economic and Social Development Council (NESDC) last week forecast a Thai GDP growth rate of 2.3-3.3% in 2025, with an average of 2.8%. Despite a more promising outlook for next year, the NESDC warned that household debt is soaring, coinciding with concerns from the business sector that the government needs to improve in a number of areas to achieve the growth rate projected by the planning agency. STILL WAITING Thienprasit Chaiyapatranun, president of the Thai Hotels Association, said the government has yet to effectively stimulate economic growth as expected. He said the tourism industry next year should continue to be a major driver of GDP with 40 million foreign tourists expected to arrive, while growth in other industries may remain stagnant. Mr Thienprasit said there are gaps that could be filled to increase the number of arrivals and spending by tourists, such as promotions during the low season that include attractive programmes and campaigns. Regarding the hospitality sector, he said the government could support the market during the low season by increasing the budget available to organise governmental and public sector meetings and conferences across the country. Foreign investment should also be accelerated, including large projects such as the proposed Land Bridge and the development of comprehensive entertainment complexes that include casinos, said Mr Thienprasit. He said the government's initiative to lure technology investment to Thailand is a good idea, as data centre projects would help create jobs and business opportunities. With the government's priority the 10,000-baht handout aimed at lifting domestic consumption, Mr Thienprasit said the outcome of the scheme remains unclear when compared with investments in major infrastructure projects. He said it would be more productive and practical if the government instead worked to ease the debt burden of many Thais, as this would eventually increase people's spending power. HURDLE ON THE HORIZON Exports will continue to play a key role in driving Thailand's GDP next year, but the country needs to ensure products labelled as made in Thailand are actually produced by Thais, said Tanit Sorat, vice-chairman of the Employers' Confederation of Thai Trade and Industry (EconThai). If these goods are produced by Chinese manufacturers, this may negatively affect the export sector, he said. This could become a serious issue if Chinese companies try to avoid the higher tariffs US President-elect Donald Trump has vowed to impose on Chinese products by exporting goods to the US via Thailand, Mr Tanit said. A close examination of goods that are produced, processed and packed in Thailand both for domestic sale and export may be required to ensure the products were actually manufactured by Thai companies. "They may be made by Chinese entrepreneurs in Thailand," he said. "We don't know whether this will become an issue, which could cause the Trump administration to launch retaliatory measures against Thailand." Trump announced he would impose tariffs of 10-20% on all imported products, with tariffs of between 60-100% on goods imported from China, according to media reports. Thailand and other countries, especially those that have a trade surplus with the US, are likely to face tariffs of 10-20%, said Mr Tanit. The new US foreign trade policy will likely have a limited impact on Thai exports to the US, he said. EconThai believes exports and tourism will continue to drive the Thai economy next year. A glance at growth forecasts from various state agencies led Mr Tanit to predict a rate of 2.9% next year. "Our economy is growing, but its growth rate will be lower than those of neighbouring countries," he said, adding Southeast Asia is expected to grow by 4-5% in 2025. He applauded the new government for its stimulus efforts. "The 10,000-baht handout should help the economy somewhat as it indirectly helps some businesses to maintain their employment," said Mr Tanit. CHAMBER UPBEAT ON GROWTH Sanan Angubolkul, chairman of the Thai Chamber of Commerce, said he believes Thailand's GDP will grow by 3% in 2025, based on the NESDC forecast, as the economy gradually recovers next year. The fiscal 2025 budget was already approved, so the implementation of various policies, including government stimulus measures, will be able to proceed smoothly, he said, helping to drive the economy forward during the coming year. Thai exports were affected by baht strength earlier this year. The value of exports for the first nine months of 2024 tallied US$223 billion, up 3.9% year-on-year, indicating the export sector continues to be a key driver of the economy, said Mr Sanan. Officials expect Thailand will start to register more investments in new S-curve industries, propelling the export sector and GDP growth next year. The tourism sector is projected to fully recover in 2025 as Thailand recorded more than 30 million foreign arrivals during the first 11 months of 2024, which represents 85% of the target of 35 million arrivals set for 2025. If the government can accelerate the promotion of Thailand's soft power through various events and position the country's festivals on the global calendar, he said it will help raise awareness among foreign tourists, attracting high-income tourists to visit or live here. This would increase tourism revenue and create jobs, improving income distribution, said Mr Sanan. In terms of consumer spending, the government already started disbursal of the fiscal 2025 budget and implemented various stimulus measures. In addition, the government's recent debt relief measures should help generate liquidity in the economy, he said. Moreover, the government needs to accelerate efforts to attract foreign direct investment into Thailand by leveraging the opportunities presented by Trump's foreign trade policy, said Mr Sanan, which could restore confidence among both Thai and foreign investors. SOURCE OF INSPIRATION Chak Reungsinpinya, head of research at Maybank Securities (Thailand), said the brokerage is feeling more bullish and hopeful regarding Thailand's economic future following recent discussions with Finance Minister Pichai Chunhavajira. According to Mr Chak, the finance minister said some policies are short-term but much-needed, including the cash handout and debt restructuring schemes addressing the economic slowdown. "Mr Pichai emphasised the need to maintain fiscal discipline and expects the budget deficit to fall below 4% of GDP in the fiscal 2025 budget, keeping government debt-to-GDP below 70%, compared with 65% now," he said. Mr Pichai also said the investment budget must exceed the deficit level, meaning that current expenditure needs to be financed solely by government receipts. Over the longer term, tax reforms are needed to help close the fiscal gap, said Mr Chak. "This includes potentially lower personal and corporate income taxes, but higher value-added tax with excess government receipts going towards low-income earners via social programmes," he said. Following the initial 10,000-baht handout in October, Maybank expects Thai GDP growth to reach 3.4% in the fourth quarter of 2024, bringing full-year growth to 2.6%. The brokerage maintained its 2025 GDP projection of 2.8%, with public investment and public consumption remaining the key drivers. "We are mindful of risks to growth from rising trade barriers, especially if the US trade policy targets exporting nations that are closely integrated with China's supply chains," Maybank said in a research note, adding consumer indebtedness need to be reduced to a more manageable level for private consumption growth to recover. "The authorities are planning to implement debt restructuring programmes to address household debt, but these will take time to take effect and support consumption." Prakit Siriwattanaket, managing director of Merchant Partners Asset Management, said the government recently introduced policies to address persistent problems such as high debt levels, in addition to short-term stimulus. In his view, increased government budget disbursement is the main reason Thai GDP exceeded the market forecast of 2.7% in the third quarter this year. "The government deserves credit for increasing budget disbursement from 50 billion baht in August to 89 billion in September. This is what prior administrations wanted to do, but could not accomplish," said Mr Prakit. He said the market expects the Bank of Thailand's Monetary Policy Committee to further trim the policy rate in December to spur economic growth. UNEXPECTED DEVELOPMENT Amonthep Chawla, chief economist at CIMB Thai Bank (CIMBT), described the 3% year-on-year GDP growth in the third quarter recently as unexpectedly strong, exceeding the bank's forecast of 2.2%. According to the NESDC's latest data, public spending and domestic consumption exceeded the bank's expectations. Foreign tourist arrivals aligned with the bank's forecast and remained a key driver of Thailand's economic growth, he said. Following the NESDC's announcement of third-quarter results, CIMBT's research centre is revising its growth forecasts for 2024 and 2025. The centre is also awaiting updated economic data from the central bank. However, Mr Amonthep said the bank does not expect the country's growth rate for the fourth quarter to reach 4% year-on-year, citing the central bank's assessment that weaker purchasing power among low-income groups, particularly vulnerable and agricultural households, will weigh on economic performance. He said the second phase of the government's 10,000-baht cash handout is unlikely to significantly boost economic growth in the final quarter, as the target beneficiaries, primarily elderly individuals, are expected to spend conservatively. "Initially, we planned to revise our GDP growth forecast for this year to 2.6-2.7% from 2.3%, but the new projected figures are likely to fall just short of 3%," said Mr Amonthep. Thitima Chucherd, head of economic and financial market research at SCB EIC, said the centre plans to slightly boost its 2024 Thai growth projection to 2.6% from 2.5% following the NESDC's third-quarter report. EIC predicted third-quarter GDP growth of 2.6%, aligning with forecasts by other research houses in a range of 2.4-2.6%. The government's various stimulus initiatives, including the second phase of the cash handout programme, are expected to contribute 0.6-0.8 percentage points to growth. As a result, the country's GDP growth in the fourth quarter of 2024 could potentially reach 4% year-on-year, noted the research centre. For 2025, Ms Thitima said the Thai economy is expected to face greater challenges, particularly from potential changes in US foreign trade policies under the new administration, which could negatively impact exports in the second half of the year. As a consequence, Thailand's economic growth next year may fall below the current projection of 2.6%, noted EIC. She said EIC is awaiting further details on the implementation of stimulus packages and US economic policies before making final adjustments to its forecasts. Surrounded by leaders and members of coalition parties, Ms Paetongtarn, centre, makes a point ahead of a meeting to discuss the controversial Koh Kut border issue and referendum bill at Government House on Nov 4. Chanat Katanyu Tourists and locals make their way around Chatuchak weekend market in Bangkok. Nutthawat Wichieanbut A woman collects plastic bottles to be sold for recycling. A CIMBT economist believes the second phase of the state's cash handout is unlikely to significantly boost growth in the final quarter, as the target beneficiaries, primarily elderly individuals, are expected to spend conservatively. Apichart Jinakul
Millions of people across the country are expected to shop in-store and online, looking for last-minute sales and deals. Many of them turned out through the weekend and on Monday at the outlet stores and other shops in Vacaville. The National Retail Federation estimates that 157.2 million people planned to shop the last weekend before Christmas, up from $141.9 million just last year. The Federation also says because Thanksgiving was held during the last week of November, people had less time to shop making these final days before Christmas a critical time for final shopping tasks. That was the case for the Favre family from Novato, who were happily scooping up bargains at the Reebok outlet store Monday. “We wanted a time when we could all go shopping together,” explained Michelle Farve. “And we figured there wouldn’t be as many shoppers on a weekday as there was on the weekend.” Husband Gary Favre agreed. “It was tough getting off work before now,” he said, insisting they hadn’t procrastinated. “Besides, it’s better this way,” said daughter Lauren Favre, a student at College of Marin who is now home on holiday break. “This way, I can go out with them and point out what I want!” According to the Federation, 69.5 million people say they plan to shop in-store and online. But no matter where or how people shop, they’re hoping to find a good deal. There were plenty of deals, said Dixon resident Lorena Maya, who made a quick trip to the outlets to help her sons Adriel and Itzae purchase a gift for their dad. “They wanted to give him something instead of just a gift card,” she explained. A recent federation survey also showed that clothing or accessories and toys were the most purchased items so far this holiday shopping season. That was the case of Dana Rodriguez of Sacramento who turned out to find last minute items at the outlets. “I’m mostly done with my shopping this year but I can’t resist a bargain,” she said with a laugh. “I’m mostly looking for stocking stuffers now.” Earlier this month, U.S. Census Bureau stats saw overall retail sales climbing with November numbers up 0.7% seasonally adjusted month over month and up 3.8% unadjusted year over year. That compared with increases of 0.5% month over month and 2.9% year over year in October. November’s core retail sales as defined by NRF — based on the Census data but excluding automobile dealers, gasoline stations and restaurants — were up 0.4% seasonally adjusted month over month and up 3.8% unadjusted year over year.Ohio State transfer quarterback Air Noland commits to South CarolinaThe Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of November 29, 2024 in ...