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24X National Exchange Plans to be the First Exchange to Offer U.S. Equities Trading 23 Hours-Per-Day on Weekdays STAMFORD, Conn. , Nov. 27, 2024 /PRNewswire/ -- 24 Exchange announced today that it has received approval from the U.S. Securities and Exchange Commission to operate 24X National Exchange as the first national securities exchange in the U.S. that allows trading of U.S. securities 23 hours each workday. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange's ability to comply with the Securities Exchange Act. 24X National Exchange will be subject to the SEC's ongoing regulatory oversight and full range of investor protections. The new Exchange will enable retail and institutional customers anywhere in the world to trade in U.S. equities via broker-dealers who are approved members of 24X National Exchange. 24X National Exchange will be launched in two stages. A first stage will open in the second half of 2025, with the Exchange operating from 4:00AM ET to 7:00PM ET on weekdays. The second stage, which will launch once the conditions noted above are met, will offer trading in U.S. equities from 8:00PM ET on Sunday through 7:00PM ET on Friday . A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing. 24 Exchange CEO and Founder Dmitri Galinov said: "The SEC's approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years. Traders are most at-risk when the market is closed in their geographic location. 24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers." As the first national securities exchange approved by the SEC to operate 23 hours each weekday, subject to the conditions noted above, 24X National Exchange will initially focus on capturing the expanding demand in the APAC region for overnight liquidity in U.S. equities. The 24X National Exchange will run on a proven, state-of-the-art technology platform provided by MEMX Technologies. The new Exchange's executive team will place a high priority on enhancing client experience through continuous technology innovations and improvements. "With this historic SEC approval in place, we will build and operate a customer-driven Exchange that can rapidly align with market demands and adapt quickly to client feedback," Galinov added. "We look forward to bringing a superior trading experience to global customers. 24X National Exchange will deliver the cost efficiency, speed, resilience, and adaptability that the company's financial institutional customers have long come to expect." 24X National Exchange will close on U.S. market holidays, similar to the schedules maintained by the NYSE and Nasdaq. 24 Exchange through 24X Bermuda Limited, an affiliate of 24X National Exchange, will continue to offer FX NDFs, Swaps and Spot trading to institutional clients. Since its launch in 2019, 24 Exchange's multi-asset offering through a single trading interface has enabled clients to access increased liquidity at lower cost. About 24 Exchange 24 Exchange allows market participants to seamlessly exchange their exposures at the lowest possible cost. 24 Exchange's mission is to enable members to initiate the most cost-effective trades across a growing range of asset classes, 24 hours a day. 24 Exchange lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available at https://24exchange.com/ . Media Contact: Eric Andrus , KARV 24Xmedia@karv.global Phone: +1 (212) 333-0275 View original content: https://www.prnewswire.com/news-releases/24-exchange-receives-sec-approval-of-its-new-national-securities-exchange-24x-national-exchange-302317878.html SOURCE 24 ExchangeRachel Christian | (TNS) Bankrate.com Just because retirement planning involves some guesswork doesn’t mean it has to be a total mystery. Related Articles Business | The year in money: inflation eased, optimism ticked upward Business | Nearly half of US teens are online ‘constantly,’ Pew report finds Business | How to protect your communications through encryption Business | About 2.6 million Stanley cups recalled after malfunctions caused burns. Is your mug included? Business | Musk says US is demanding he pay penalty over disclosures of his Twitter stock purchases Whether you’ve been saving since your first job or you’re getting a late start, you can leverage expert-recommended strategies to gauge your progress on the road to retirement. And if you’re not quite on track, don’t sweat it — the experts we spoke to offered actionable tips to help you close the gap. You might have a general idea of how much money you need to save for retirement . A few quick calculations can give you an estimate, but to truly appreciate where you stand, you’ll need to dive into the numbers. Here’s how to get started. A good rule of thumb to estimate your retirement savings goal is the Rule of 25 . Simply multiply your desired annual retirement income by 25. The result is roughly how much you’ll need to save before hitting retirement. For example, if you plan to spend $50,000 a year, you’ll need about $1.25 million to make it a reality. The Rule of 25 is based on the idea that withdrawing 4% annually from your retirement savings should last you about 30 years. While it’s not an exact science by any means — health care costs and lifestyle changes can skew the numbers, for example — the Rule of 25 can be a good starting point to figure out how much you need to save. Fidelity Investments, a behemoth in the retirement planning space, offers savings guidelines to help you determine if you’re on track . —By age 30: Save 1x your annual salary —By age 40: Save 3x your annual salary —By age 50: Save 6x your annual salary —By age 60: Save 8x your annual salary —By age 67: Save 10x your annual salary For example, if you earn $60,000 annually, you should aim for $600,000 in savings by age 67. But like the Rule of 25, Fidelity’s guidelines offer a 10,000-foot look at retirement goals, and they’re not customized to your situation. Maybe you earned a low salary in your 20s, but you’re working hard in your 30s to make up for it. Use these estimates as a benchmark — but don’t get discouraged if you’re lagging behind. Now it’s time to zoom in a little. To get a clearer snapshot of your progress, use an online retirement calculator. These tools factor in your age, current savings, income and lifestyle goals to estimate whether you’re on track. You’ll get a more refined estimate without crunching the numbers yourself. Bankrate’s retirement calculator even lets you input different rates of return on your investments and accounts for estimated annual salary increases. Having a general savings goal is nice, but to avoid falling short in retirement, you’ll need more than a ballpark figure. Experts recommend creating a retirement budget to get an up-close-and-personal look at how much you’ll really need once you leave the workforce. First, estimate how much you’ll spend per month in retirement. While some costs will increase, like health care, others will likely decrease, like dining out and commuting. “Estimating expenses can be challenging for some people, so as a starting point, I often use your net take-home pay,” says Jeff DeLarme, a certified financial planner and president of DeLarme Wealth Management. For example, if you receive a direct deposit of $2,500 every two weeks from work, use $5,000 as your estimated monthly spending in retirement. “Assuming this was enough to pay the bills while working, we can use $5,000 a month as a starting budget to plan for,” says DeLarme. Next, map out your sources of income in retirement. Social Security is the largest income stream for most retirees, but don’t neglect other inflows, such as: —Workplace retirement accounts, like 401(k)s —Personal retirement accounts, like a traditional or Roth IRA —Pensions —Annuities —Selling your home or business —Rental income —Inheritance “If there’s a gap between your expected expenses and income, you’ll have a good idea of how much you need to save,” says Mike Hunsberger, a certified financial planner and owner of Next Mission Financial Planning. From there, you can adjust your savings and investment strategy accordingly. For something as important (and complex) as retirement planning, it pays to speak with a professional. Financial advisers can analyze your savings, investments and retirement goals to create a personalized plan. Advisers use special planning software that account for more variables than an online calculator, giving you a much more precise, granular look at your financial life in retirement. Many financial advisers can also help you optimize your tax strategy, which can potentially save you thousands of dollars over time. Make sure the adviser you hire is a fiduciary , meaning they’re legally obligated to prioritize your interests over their own. A fiduciary won’t push investments to earn a commission or recommend products that aren’t aligned with your needs. A certified financial planner is one of the most well-recognized designations for fiduciaries. You can use Bankrate’s adviser matching tool to find a certified financial planner in your area in minutes. Maybe you did the math and realized you’re not quite where you need to be. Don’t panic if you’re behind schedule. Here are five strategies experts recommend to help you catch up on your retirement savings . Cutting expenses now frees up more cash to invest in your retirement accounts. Evaluate your budget and identify areas where you can cut costs, like dining out, streaming subscriptions or shopping. Don’t rule out bigger lifestyle changes either, especially if retirement is rapidly approaching. Housing is the biggest monthly expense for most people. Getting creative here can help amplify the amount you can sock away, says Joseph Boughan, a certified financial planner and managing member at Parkmount Financial Partners. It can also reduce your expenses in retirement, so you may not need to save as much as before. “Downsizing can be a great way to cut expenses,” says Boughan. “This can even free up cash if you don’t end up needing all that money for a new home.” Moving somewhere with lower property taxes or income taxes can also help bring your retirement plan back in line. And if you’re a renter, making tough short-term decisions, like taking on a roommate or moving to a lower cost-of-living area, can free up hundreds of dollars a month for your retirement. “Everyone’s plan is unique, so exploring all the options is important,” Boughan says. Joe Conroy, a certified financial planner and owner of Harford Retirement Planners, recommends taking a “retirement test drive” as you near your target date. “Start to live on what income you think you can afford in retirement and stash all the extra income into savings and investments,” says Conroy. “If you can make it through each month, you’re ready for retirement. If you run short, then adjust your plan accordingly.” Working a little longer can be a game-changer for your retirement nest egg. Not only does it give you more time to save, it also gives your investments room to grow. “Working longer or even just part time for a few years early in retirement is one of the best ways to reduce the amount of money you need to save,” says Hunsberger. Postponing retirement can also boost your Social Security benefits . “You can claim as early as 62, but your benefits will be reduced significantly,” says Hunsberger. Meanwhile, each year you delay claiming Social Security benefits beyond your full retirement age , your monthly check will increase by 8%, though this benefit maxes out at age 70. So waiting can really pay off. It may seem obvious, but if you’re behind on retirement savings, you’ll need to boost your contributions as much as possible. Here are a few ways to make saving for retirement easier: —Increase your contribution rate: Allocate a larger portion of your paycheck to a workplace retirement plan. Even bumping up your contributions by 1% or 2% can make a huge difference down the road. —Take advantage of your employer match: Don’t leave free money on the table. Many employers will chip in between 3 and 5% depending on your plan, so make sure you’re contributing enough to take advantage of the benefit. —Use “unexpected” money to catch up: If you get a raise or bonus at work, funnel part of it directly into your 401(k). And if you get a refund at tax time, siphon some of it off to beef up your IRA. If you’ve been investing in low-risk, low-return investments, you may not be keeping up with inflation, let alone growing your nest egg. Reallocating part of your portfolio to stocks or low-cost growth exchange-traded funds (ETFs) is one way to get your money working harder. Higher-risk investments like stocks carry more volatility but also offer higher potential returns. Work with a financial adviser or use a robo-adviser to strike the right balance between growth and your personal risk tolerance. Contribution limits for 401(k) plans and IRAs are higher for people over 50. For 2025, employees aged 50 and up who participate in most 401(k) plans or the federal government’s Thrift Savings Plan can save up to $31,000 annually, including a $7,500 catch-up contribution . But thanks to SECURE 2.0 , a sweeping retirement law, a new higher catch-up contribution limit of $11,250 applies for employees ages 60 to 63. So, if you’re in this age group, you can squirrel away a whopping $34,750 a year during the final stretch of your career. Of course, you’ll need a big salary (think six figures) in order to take full advantage of such massive contribution limits. But if you can afford it, these catch-up allowances can put your plan back on track, especially if you struggled to save much early in your career. There’s no GPS to gauge your progress on the road to retirement. If you’ve veered off course or aren’t sure where to start, begin by getting a quick estimate of how much you’ll need before mapping out a retirement budget. And if you’re behind, don’t panic — adjusting your spending, boosting your contributions and speaking with a financial adviser can help you catch up. ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.Some 43 per cent said they expect US equities to be the best-performing asset class in 2024, compared with 27 per cent of respondents pre-election. SINGAPORE - More Asian business owners and large family offices are increasing their allocations to US equities and real estate, fuelled by optimism over US President-elect Donald Trump’s pro-business policies. As a result, they are seeking help to structure their US investments and address any tax compliance issues ahead of Trump’s inauguration, scheduled on Jan 20, 2025. While the S&P 500 US stock market index has been tempered in recent days by inflation concerns, it remains near record highs and is up more than 20 per cent this year. According to the latest Global Fund Manager Survey from Bank of America, respondents were more optimistic after the US election, which took place on Nov 5. Allocations to US equities surged post-election to the highest level since August 2013, with investors holding 29 per cent of the asset class, compared with 10 per cent in October. Some 43 per cent said they expect US equities to be the best-performing asset class in 2024, compared with 27 per cent of respondents pre-election. “A number of our clients are allocating more of their assets to US real estate and equities because one of the core fundamental tenets of what Trump wants to do is reduce the corporate red tape as well as corporate tax rate from 21 per cent to 15 per cent,” said Mr Kurt Rademacher, partner and head of US private client at international law firm Charles Russell Speechlys. “That’s going to help corporate earnings after tax, which could drive up stock prices. If businesses are doing better, there’s more money in people’s pockets. That would potentially also increase the real estate market as a rising tide lifts all boats.” Within the first eight trading days since the US election results, the market value of US equities increased by US$2 trillion (S$2.7 trillion), or 3 per cent. The US dollar gained 3 per cent against an index of the most liquid currencies. Mr Rademacher, who splits his time between Singapore and the US, said regional clients are seeking help to structure their US investments and address any US tax compliance issues. The seasoned professional in international wealth transfer planning told The Straits Times that in Asia, many of the ultra high-net-worth (UHNW) families from China, Indonesia, Taiwan and the Philippines have some US connections. Most of them have children studying there, are working on Wall Street or are married to an American. “We step in and try to manage the tax situation for them. For those few clients in the region who don’t have US family members, they all have US equity exposure or US real estate exposure, and they too need advice,” Mr Rademacher said. A lawyer with another law firm also shared that he has been kept busy handling inquiries from wealthy clients who want to invest in the US, leveraging Singapore family offices as an investment vehicle to do so. Charles Russell Speechlys’ head of private office Marcus Yorke-Long said Trump’s victory provides direction, which in turn underpins investor confidence as there is now an element of predictability that can be applied to global markets and geopolitics. “Mr Trump has a very strong voice, and he now also has a very strong mandate. Investors and families tend to find it somewhat easier to plot their path when there are elements of conviction and direction as opposed to uncertainty and mixed messages,” said Mr Yorke-Long, whose team handles relationships with global families seeking broad conversations across sectors, territories and generations. Political change provides an opportunity for UHNWs to review their global structures and tax mitigation strategies, Mr Yorke-Long said. Mr Rademacher said individuals who have not filed their US income tax returns should do so promptly, as the Internal Revenue Service is ramping up efforts to pursue non-filers. He added that Singaporeans who have China-centred manufacturing business can expect a period of uncertainty and chaos. This is because Trump has announced his intention to impose a blanket tariff ranging from 10 per cent to 20 per cent on all imports, along with additional tariffs of at least 60 per cent on products imported from China. Goldman Sachs expects the US to impose additional tariffs averaging 20 per cent on Chinese products in the first half of 2025. “There are lots of questions about whether Trump really wants a 60 per cent import duty, or whether what he really wants is a free trade agreement with China, or freer trade agreement with China. “But there will be a period of time when that’s going to be difficult for Singaporean clients with Chinese businesses in the manufacturing sector,” said Mr Rademacher. Even allies of the US may be affected by Trump’s tariff-fuelled war as global trade remains strongly intertwined with the US and Chinese economies. Allianz Trade, an insurance group, said rising US-China tensions are reshaping global supply chains and paving the way for new trade powerhouses. It identified 25 economies that could benefit from this new world order. “Beyond fast-growing economies such as India, this shift has opened doors for nations like Vietnam, Malaysia, Indonesia, and the United Arab Emirates to step up as next-generation trade hubs,” Ms Francoise Huang, senior economist for the Asia-Pacific and trade at Allianz Trade said. For everyone else with US connections, they should be better off from a pure tax policy perspective, Mr Rademacher said. Join ST's WhatsApp Channel and get the latest news and must-reads. Read 3 articles and stand to win rewards Spin the wheel now
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Stock market today: S&P 500 closes lower ahead of ThanksgivingLosses for big technology stocks pulled major indexes lower on Wall Street. The S&P 500 fell 0.4% Wednesday. The Dow Jones Industrial Average slipped 0.3% from its record high a day earlier, and the Nasdaq composite lost 0.6%. Losses for Nvidia, Microsoft and Broadcom were the biggest weights on the market. Dell sank 12.2% after reporting revenue that fell shy of forecasts, and HP dropped 11.4% after giving a weaker-than-expected outlook. Treasury yields fell in the bond market. U.S. financial markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday. On Wednesday: The S&P 500 fell 22.89 points, or 0.4%, to 5,998.74. The Dow Jones Industrial Average fell 138.25 points, or 0.3%, to 44,722.06. The Nasdaq composite fell 115.10 points, or 0.6%, to 19,060.48. The Russell 2000 index of smaller companies rose 1.88 points, or 0.1%, to 2,426.19. For the week: The S&P 500 is up 29.40 points, or 0.5%. The Dow is up 425.55 points, or 1%. The Nasdaq is up 56.83 points, or 0.3%. The Russell 2000 is up 19.52 points, or 0.8%. For the year: The S&P 500 is up 1,228.91 points, or 25.8%. The Dow is up 7,032.52 points, or 18.7%. The Nasdaq is up 4,449.12 points, or 27%. The Russell 2000 is up 399.12 points, or 19.7%.
Amazon Black Friday: 12 luxury beauty items you can get on saleIt is, quite literally, the end of an era. Pop sensation this weekend with a final show in Vancouver, Canada. The tour was nothing short of a phenomenon, than $1 billion in revenue and attended by fans all over the world, many of whom jumped on airplanes to go see Swift thousands of miles away from home. When the tour wraps on Sunday, Swift will have played 149 shows, performing for several hours at each of them. Clearly, she’s earned a break. But the impact of this record-setting musical juggernaut will live on. This was about more than one 34-year-old from Wyomissing, Pennsylvania; this was a cultural moment. It was an economic force. It . As Americans trudge through an already chaotic start to , the end of the “Eras Tour” feels depressingly appropriate: a last hurrah, the last time things felt uncomplicatedly fun. This tour really did have everything. Cameos from a . Royal children. A foiled . It and . The Swifties’ penchant for friendship bracelets created . But for all of its headlines, the real power of the “Eras Tour” had everything to do with the girls and women (and boys and men, too) who came. Mothers and fathers brought their daughters. Young women came in mini-mobs. reportedly went into during performances. Swift is not a creative visionary in the vein of Beyoncé; she doesn’t have a Mariah Carey voice or Jennifer Lopez dance moves or Lady Gaga inventiveness. She is the pumpkin spice latte of pop stars. But those things are really, really popular. They — Swift and PSLs — are culturally coded as Basic Girl Things. They aren’t exactly unique, but they are ubiquitous. And where young women might have once hidden their affection for things a misogynist society deemed cringe, today the love for Taylor Swift is unabashed and unashamed and very, very girlie. In 2023, her concerts combined with the “Barbie” movie to create one summerlong celebration. And the two felt apiece: Both took long-standing relics of girlhood — the beautiful blonde pop star, the Barbie doll — and reshaped them as more feminist modern versions, keeping the fun bits, excising the sexism, and perhaps most importantly, asserting that Girl Culture is pop culture, and Girl Stuff is . Swift’s genius as a lyricist is in turning big emotions into catchy ballads, allowing and empowering girls (and a lot of boys and adults) to feel seen in all of their many feelings and experiences. She sings about love and heartbreak, vulnerability and self-assuredness, friendship and fun. In her words, girls get to try on different ways to feel and inhabit the world — which is exactly how adolescence feels. Swift isn’t trying too hard to be cool, but she’s not trying to be aloof. She transparently works extremely hard. She tries to be nice and decent. She’s the kind of pop star both children and parents can see themselves in. Swift is also a remarkably powerful woman. The space she gives girls for their many feelings is a mirror of the space she’s carved out for herself. Yes, she sings about breakups and boys; she’s also dedicated to her own girl crew, makes gobs of money, and struts around massive stages It’s not a brand-new model of feminine power and expression, but it’s a profoundly resonant one. But, alas, Swift is not all-powerful. After Trump’s running mate (and now vice president-elect) , Swift leaned into her persona as the nation’s most prominent kid-free feline aficionado. She posted arch photos with her cats. After much speculation, . For a brief moment, even I wondered if the Swifties would turn out to their polling places en masse to drown out the podcast bros and belligerent young men flocking to Trump. That did not happen. And Trump won. Our president-elect is a man who appointed the judges who ended legal abortion across America. He’s a man He’s a man who has tapped multiple to serve in his Cabinet. His campaign was the polar opposite of a Taylor Swift concert: No friendship bracelets, lots of mixed martial arts. And even though the margins were narrow, his victory does feel uncomfortably like a national pivot back toward the culture of disaffected men — and a rejection of the kind of guileless girl culture Swift’s tour embodied. One era ends, as a second Trump era begins. But even though Swifties will no longer be filling stadiums, they are still everywhere: in schools and workplaces and homes across the U.S. They are working on political campaigns and, yes, have even been elected. Going to a Taylor Swift concert isn’t necessarily a political act. But being surrounded by other girls and young women in an inclusive, expansive space where no feeling is too big and no experience of girlhood is too awkward, and where female power can coexist with female vulnerability? Where being a girl is still fun? That’s what Swift leaves behind — and that era doesn’t have to end.
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COSTA MESA, Calif. , Dec. 13, 2024 /PRNewswire/ -- Automatic, a leading fintech firm specializing in facilitating seamless connections between used independent car dealerships and lenders, today announced a strategic partnership with MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies. This collaboration leverages Automatic's robust dealership network technology and MeridianLink's advanced decisioning capabilities to empower financial institutions within the automotive lending sector. Automatic's platform serves as a pivotal link for lenders across its expansive independent dealer network, offering tailored solutions that optimize loan aggregation and enhance operational efficiencies. MeridianLink's innovative Advanced Decisioning capabilities, integrated within Automatic's framework, augments decision-making for lenders across a vast network of dealerships. This integration enables real-time loan analysis, improves risk management capabilities, and facilitates faster, more precise lending decisions tailored to specific borrower profiles. "Partnering with MeridianLink ® marks a significant milestone for Automatic as we continue to innovate within the automotive financing landscape," said Eric Burney , CEO of Automatic. "Our mission to foster an 'Open Marketplace' is further realized through this collaboration, empowering lenders with tools to access new clients in a safe way." Financial institutions already integrated with MeridianLink will gain seamless access to Automatic's platform, empowering them to further streamline their lending processes, in the used independent space, enhancing member satisfaction, and capitalizing on market opportunities. For more information about Automatic and its comprehensive auto financing solutions, visit https://www.automaticusa.com . About Automatic Automatic is a pioneering fintech company dedicated to facilitating efficient connections between automotive lenders and independent pre-owned vehicle dealerships. Automatic's platform serves as a cost-effective solution for the automotive financing sector, fostering an open marketplace for stakeholders. About MeridianLink MeridianLink ® (NYSE: MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink's cloud-based digital lending, account opening, background screening, and data verification solutions leverage shared intelligence from a unified data platform, MeridianLink ® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike. For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com . For media inquiries, please contact: nikki@automaticusa.co View original content: https://www.prnewswire.com/news-releases/automatic-partners-with-meridianlink-to-revolutionize-lender-dealership-connectivity-302331536.html SOURCE AutomaticJason Sanders nailed a 42-yard field goal to tie the game with 7 seconds remaining and Tua Tagovailoa found Jonnu Smith for a 10-yard touchdown pass on the opening overtime drive, lifting the Miami Dolphins over the New York Jets 32-26.Fox News national correspondent CB Cotton breaks down the latest news on the Daniel Penny trial after the judge dropped manslaughter charges Friday afternoon on ‘Special Report.’ It is a travesty that Marine veteran Daniel Penny was charged with two homicide counts by Manhattan’s elected progressive-Democratic district attorney, Alvin Bragg, over the death of Jordan Neely – who was menacing frightened subway passengers when Penny subdued him . How fitting, then, that the conclusion of the jury trial, which began eight weeks ago, is proving to be as much a mockery of justice as the rest of the proceedings have been. DANIEL PENNY ‘OVERCHARGED’ BY PROSECUTION IN ‘PATENTLY UNFAIR’ MOVE, ATTORNEY ARGUES As I’ve explained a number of times, Bragg executed a couple of cynical stratagems to increase his chances of convicting Penny. The first involves the crude racialist politics of the progressive-Democratic base that got Bragg elected in 2021. This faction looks at life as if it were a Howard Zinn revisionist history textbook, in which the world is divided into oppressor and oppressed classes, with race as the full-field theory for interpreting all phenomena. In the real world, there wasn’t anything racist in Penny’s intervention as Neely threatened passengers. Yes, the happenstance is that Penny is white and Neely was black; but Neely was intimidating all the train passengers regardless of race. Penny was assisted in subduing him by non-white passengers. Some of the best witnesses in the case for Penny have been black passengers, who have described how scared they were and how heroic Penny was. Daniel Penny arrives at Manhattan Criminal Court in New York City on Friday, December 6, 2024. The jury is entering a fourth day of deliberations in Daniel Penny’s trial for the 2023 death of Neely on the Manhattan subway. (Rashid Umar Abbasi for Fox News Digital) But that’s not how the progressive prosecutors see it. Shamefully, Judge Maxwell Wiley has allowed Bragg’s prosecutors to refer to Penny as "the white man" and "the white defendant," notwithstanding that Penny’s whiteness is irrelevant, there being not a scintilla of proof that he was bigoted. Bragg’s approach is transparently jaded: appeal to any Manhattan progressives on the jury with a race-based ideological pitch that social justice demands finding Penny guilty. The second stratagem involves how the case was charged. While I don’t think Penny should have been indicted at all, this is not even arguably anything more than a negligence case. Penny was legally justified in using force to protect himself and other passengers. By law, such justification allows a person to subdue the aggressor until the police arrive. The question, then, is whether Penny was negligent in the duration and force of the chokehold he used. (Aside: there is a significant causation issue in the case; i.e., there could be reasonable doubt about whether the chokehold caused death because Neely had significant amounts of narcotics in his system, which could have exacerbated his preexisting physical maladies due to the anxiety he caused by threatening subway passengers.) Manhattan District Attorney Alvin Bragg arrives at Daniel Penny’s trial following a lunch break at the Manhattan Supreme Criminal Court building in New York City on Monday, December 2, 2024. Closing arguments are set to begin today in Penny’s trial for the 2023 subway death of Jordan Neely. (Julia Bonavita/Fox News Digital) (Julia Bonavita/Fox News Digital) Yet, Bragg charged two counts, not one. Rather than leading with criminally negligent homicide, the indictment’s top count is second-degree manslaughter – i.e., reckless homicide. To prove recklessness, prosecutors must show beyond a reasonable doubt that the defendant knew he created a risk of death and took aggressive action in wanton disregard of that risk. Clearly, that’s not what Penny did. It was not he, but Neely, who caused the risk; and far from acting wantonly, Penny did not try to harm Neely. He rolled Neely into a position to make breathing easier. He waited until the police arrived and fully cooperated with them. And during the interview he voluntarily gave police, they did not tell him that Neely had died, and Penny plainly believed he was alive. When a trained Marine wants to kill a restrained person with a choke hold, he knows how to do it, and it doesn’t take long. That’s not what happened here. NEW YORK, NEW YORK - MAY 24: NYPD Supporters of Jordan Neely protest a rally in support of Daniel Penny at Collect Pond Park on May 24, 2023 in New York City. Nassau County Executive Bruce A Blakeman was joined by military veterans as he organized a rally in support of Daniel Penny that was protested by supporters of Jordan Neely, leading to three arrest. Neely, whose funeral was held on May 19, was killed on May 1st after being placed in a chokehold by Penny at the Broadway-Lafayette subway station. Penny has been charged with 2nd Degree Manslaughter in Neely's death. (Michael M. Santiago/Getty Images) Despite the lack of recklessness evidence, Bragg indicted a recklessness charge. He calculated that this could give the jury something to compromise on, improving the prosecution’s odds. Especially if the racializing strategy attracted some progressive jurors to the view that Penny had to be found guilty, jurors sympathetic to Penny might conclude that they could be reasonable by agreeing to find him guilty of negligent homicide as long as they acquitted him of the baseless manslaughter charge. Sadly, it appears that this strategy could be playing out as Bragg hoped. Last Friday, we learned that the jury was deadlocked on the manslaughter charge – meaning one or more jurors want Penny convicted, while others have concluded (appropriately in my view) that this charge lacks supporting evidence. The jury was not permitted to consider negligence until the recklessness charge was resolved. Bragg has thus succeeded in exhausting the jury for four days of deliberations, including a so-called Allen charge – given over the defense’s vigorous objection – to try to strongarm jurors into putting aside their divisions and agreeing on a result (a conviction, the DA hopes). They’ve been at it for nearly 30 hours over this very straightforward, single-transaction, two-count case – but still they would not find Penny guilty. Judge Wiley should have declared a mistrial. To continue at this point is to seek to browbeat the jury into a conviction. I further believe it would violate New York criminal-procedure law. Under Sections 310.60 and 310.70 , which control, respectively, declaration of a mistrial and partial verdicts, a judge may (a) declare a mistrial if the jury is deadlocked and the judge determines that no verdict is likely; or (b) accept a partial verdict if the jury announces that it has reached a verdict on one count but is deadlocked on the other count or counts. Other than those two situations, a judge may not declare a mistrial during jury deliberations unless both parties – the prosecution and the defendant – agree. CLICK HERE FOR MORE FOX NEWS OPINION Here, neither (a) nor (b) happened. Yet, Wiley allowed Bragg to dismiss the reckless homicide charge for the purpose of continuing the trial and forcing the jury to deliberate on the lesser negligent-homicide offense. In essence, Bragg manufactured a partial verdict even though the jury did not reach one, and now wants the jury to continue deliberations as if this were only a negligence case – i.e., a case starkly different from the one prosecutors presented to the jury the last eight weeks. And this was done without the consent of the defendant. CLICK HERE TO GET THE FOX NEWS APP Judge Wiley had full authority to grant Penny’s mistrial motion under Section 310.60 on the ground that the jury had deliberated for an extensive period of time without reaching any verdict. Instead, the judge bowed to Bragg’s Rube Goldberg plan: bring an exhausted, divided, already Allen- charged jury back to court Monday, to start all over again. The jurors have to be thinking that the court will keep them at it for as long as it takes to get Penny convicted of something . It's wrong ... but it’s so Manhattan. CLICK HERE TO READ MORE FROM ANDREW McCARTHY Andrew C. McCarthy serves as a FOX News contributor and is a senior fellow at the National Review Institute and a contributing editor of National Review. Follow him on Twitter @andrewcmccarthy
The 'Modern Man', Mike Bako, partners with D S Simon Media on Nationwide media tour featuring holiday gift ideas from LG Electronics USA and Affirm Not as often as you'd hoped? This year, there's help. This season, Mike Bako's Holiday Gift Guide is here to prove one thing: it's not about planning ahead-it's about choosing right. Here's The Holiday Gift Guide That Makes You Look Like You Had It All Planned. Tech at the holidays from LG Electronics USA The holidays are here and it's the time of year when people are looking to upgrade their tech and home entertainment systems. There's no better time to upgrade your TV than during the season of holiday movies, sports, and kids' cartoon specials. Whether you're planning a "Home Alone” marathon or watching the NFL and college football playoffs, enjoying it all on a brand-new TV is a festive way to ring in the season. LG's B4 OLED TV is going to transform your living room into a theater with cutting-edge technologies like Dolby Vision and Dolby Atmos that put you right in the action with amazing visuals and immersive sound. If you are wondering why OLED is superior to miniLED TVs, it's because OLED displays excel at delivering a cinematic experience. They offer perfect blacks and infinite contrast, making them ideal for watching dark scenes or enjoying content in dimly lit rooms. Plus, with webOS, LG Smart TVs provide an intuitive and seamless streaming experience. So, you can easily access all your favorite apps and even explore over 300 free LG Channels, that provides instant access to sports, movies, TV shows and more! All you need is a wifi connection! With up to five years of software updates through LG's webOS Re:New program, your TV will stay current for years to come. This TV is a gamers dream! It's equipped with NVIDIA G-Sync and a 120Hz refresh rate so players will experience ultra-smooth gameplay and unmatched responsiveness come to life on a stunning display. Facebook Twitter (formerly X) Instagram Using tech to make your gift giving and shopping easier this season This holiday season, people will be spending more than they have in prior years. The numbers don't lie. The National Retail Federation predicts that 2024 holiday sales will grow between about 3 to 4% and that equates to over $980 billion in total holiday spending in November and December. That means everyone will be looking for ways to manage and save their money, discover deals, and most importantly, shop smart. This holiday season, Affirm is putting people back in the driver's seat of their finances. As a flexible, transparent payment option, Affirm allows eligible consumers to pay over time with no late or hidden fees. Whether it's a gaming console, headphones, or a laptop, Affirm can help approved consumers shop responsibly for the tech gifts on their holiday lists. Select Affirm at checkout or download the Affirm app to shop at hundreds of thousands of participating retailers. LinkedIn Instagram Facebook X For more information, visit LG.com and Affirm.com About YourUpdateTV: YourUpdateTV is a property of D S Simon Media. The video included and release was part of a media tour that was produced by D S Simon Media on behalf of LG Electronics USA and Affirm. Dante Muccigrosso Director of Media Integration & Client Reporting E: [email protected] C: 973.524.0104 A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a2822a1-0bcb-41e6-b64d-a29c3d9b46d2Wall Street’s main indexes closed lower today, with the Nasdaq leading declines, as technology stocks slumped on Thanksgiving eve on worries the Federal Reserve may be cautious about rate cuts after stubbornly strong U.S. inflation data. Data showed consumer spending increased solidly in October, suggesting the U.S. economy maintained its strong pace of growth, but progress on lowering inflation appeared to have stalled. Traders added to bets the Fed will lower borrowing costs by 25 basis points at its December meeting, according to CME’s FedWatch. However, they anticipate the central bank leaving rates unchanged at its January and March meetings. Investors were still gauging the impact of President-elect Donald Trump’s pledge on Monday to impose duties of 25% on imports from Mexico and Canada and 10% on Chinese goods unless they halt flows of the deadly opioid fentanyl and illegal migrants into the U.S. Goldman Sachs said in a note this week an escalation in tariff policy risks delaying the return to 2.0% inflation target. According to preliminary data, the S&P 500 lost 22.85 points, or 0.38%, to end at 5,998.78 points, while the Nasdaq Composite lost 113.80 points, or 0.59%, to 19,061.78. The Dow Jones Industrial Average fell 136.31 points, or 0.31%, to 44,723.23. Dell slumped 12% and HP dropped almost 6% after downbeat quarterly forecasts, weighing on the Information Technology sector, which dropped 1.2%. The sentiment spread to megacaps such as Nvidia and Microsoft, while the Philadelphia SE Semiconductor Index ended 1.8% lower. The Russell 2000 index was sluggish after hitting a record high earlier in the week. It ended 0.1% higher. Investors also assessed data earlier in the day which showed the economy grew at a solid clip in the third quarter. Weekly jobless claims fell again last week, leaving the door open for another rate cut from the Fed in December. “Inflation has proven to be a little stickier than the Fed would have liked, which may give them pause with respect to cutting rates,” said Scott Welch, chief investment officer at Certuity. “There are questions around the effects of Trump’s stated tariff policy, which, if implemented could be pretty inflationary and so the Fed is going to have to balance itself between the economic data and the incoming administration’s policy agenda.” Minutes from the Fed’s November meeting, released on Tuesday, showed policymakers were uncertain about the outlook for interest-rate cuts and how much the current rates were restricting the economy. The benchmark S&P 500 was on track for its biggest one-month rise in a year and its sixth month of gains out of seven, as markets price in the view that Trump’s policies will benefit local businesses and the overall economy. Workday slipped 6.2% after forecasting fourth-quarter subscription revenue below expectations, hit by weaker client spending on its human capital management software. Advancing issues outnumbered decliners by a 1.64-to-1 ratio on the NYSE. There were 406 new highs and 54 new lows on the NYSE. The S&P 500 posted 79 new 52-week highs and no new lows while the Nasdaq Composite recorded 136 new highs and 71 new lows. Volume on U.S. exchanges was 11.40 billion shares ahead of the holiday, compared with the 14.92 billion average for the full session over the last 20 trading days.
When thieves made off with Darcie Bell’s rented U-Haul truck, the San Francisco woman put out a call for help on X: “If you see a 26 foot uhaul truck with the Arizona plate AL50003- would you let me know because it had like everything I own on it.” The post went viral, but not for the reason she hoped for. Bell spent years posting left-wing “defund the police” views — and users across the site blasted and mocked the activist. “Anti Police activist begs the police to help,” jeered the X account Bay State of Mind, which comments on San Francisco Bay Area politics. Tom Wolf, an addiction recovery advocate who has nearly 30,000 followers, posted a screenshot of a previous post in which Bell blasts the San Francisco Police, alongside a screenshot of her recent plea. “Shot. Chaser.” the caption reads. Bell – who goes by Jerque Cousteau on X with a bio saying “will respond to all bad faith arguments w/ad hominem attacks” — is returning fire. Mere hours after she filed a police report, she blasted the police for not immediately locating her stolen possessions. “I haven’t found my s—! The cops didn’t do s—! U-Haul made me file a f—ing police report!” she told The Post. “There’s cameras all over this city. They haven’t done s—! ... I just want my stuff back!” To those accusing her of hypocrisy, she insisted she “literally never called the cops” and is re-posting more calls to defund law enforcement, for good measure. U-Haul itself urged her to alert authorities to the theft of their truck. “Please be sure to contact us back to provide the police report to the Equipment Recovery department,” the company’s customer support account urged. As for her critics, she sneered at them. “Look at these good, Christian ‘victim advocates’ celebrating my kids losing their belongings at Christmas,” she fired at the haters in general.
The New York Jets have officially been eliminated from postseason contention. It would have taken a near miracle to somehow get back in the playoff picture but any hopes were eradicated Sunday when the Jets blew a late lead to fall 32-26 to the Miami Dolphins in overtime The Dolphins held a 15-13 lead at halftime but New York quickly grabbed momentum and snagged a 23-15 lead. Miami would tie it and the team's then traded field goals to force overtime. Miami would win the toss and march down the field, with quarterback Tua Tagovailoa finding tight end Jonnu Smith in the end zone for the game-winning score. Tagovailoa went 31-of-45 for 311 yards and a touchdown. Running back De'von Achane had 13 carries for 21 yards and a touchdown while also adding six catches for 45 yards in the passing game. Tyreek Hill had 10 catches for 115 yards and a touchdown while Jaylen Waddle had nine catches for 99 yards. Jets quarterback Aaron Rodgers went 27-of-39 for 339 yards with one touchdown. Garrett Wilson had seven carries for 114 yards while Davante Adams had nine catches for 109 yards and a touchdown. Fans took to social media to blast the Jets for blowing the game and extending their postseason drought to 14 seasons. While the postseason is out of play for the Jets the remaining slate will be important in determining where they go in future seasons. New York will face the Jacksonville Jaguars, Los Angeles Rams and Buffalo Bills before finishing their season against these Dolphins.
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