By ALEXANDRA OLSON and CATHY BUSSEWITZ NEW YORK (AP) — Walmart’s sweeping rollback of its diversity policies is the strongest indication yet of a profound shift taking hold at U.S. companies that are revaluating the legal and political risks associated with bold programs to bolster historically underrepresented groups in business. The changes announced by the [...]US stock indices pushed to fresh records Tuesday, shrugging off tariff threats from President-elect Donald Trump while European equities retreated. Trump, who doesn't take office until January 20, made his threat in social media posts Monday night, announcing huge import tariffs against neighbors Canada and Mexico and also rival China if they do not stop illegal immigration and drug smuggling. Both the Dow and S&P 500 notched all-time highs, with investors regarding the incoming president's words as a bargaining chip. "In theory, higher tariffs should not be good news for stocks. But, you know, I think the market's chosen to think of (it) as a negotiating tactic," said Steve Sosnick of Interactive Brokers. "You have bullish sentiment," said LBBW's Karl Haeling. "People are tending to look at things as positively as possible." But General Motors, which imports autos from Mexico to the United States, slumped 9.0 percent, while rival Ford dropped 2.6 percent. Overseas bourses were also buffeted by the news. European stocks followed losses in Asia, despite Trump excluding Europe as an immediate target for tariffs. "These are his first direct comments on tariffs and tariff levels since becoming president-elect, and they have roiled markets," said Kathleen Brooks, research director at XTB trading group, ahead of the Wall Street open. "It is early days, and there are plenty of opportunities for Trump to direct his attention to Europe down the line," Brooks added. The US dollar rallied against its Canadian equivalent, China's yuan and Mexico's peso, which hit its lowest level since August 2022. In other economic news, the Conference Board's consumer confidence index rose to 111.7 this month, up from 109.6 in October, boosted by greater optimism surrounding the labor market. "November's increase was mainly driven by more positive consumer assessments of the present situation, particularly regarding the labor market," said Dana Peterson, chief economist at The Conference Board. Pantheon Macroeconomics chief US economist Samuel Tombs added in a note that the increase in consumer confidence overall "likely was driven by euphoria among Republicans." "The index also jumped in late 2016, when Mr. Trump was elected for the first time," he said. Federal Reserve meeting minutes showed policy makers expect inflation to keep cooling, signaling a gradual approach to interest rate cuts if price increases ease further and the job market remains strong. New York - Dow: UP 0.3 percent at 44,860.31 (close) New York - S&P 500: UP 0.6 percent at 6,021.63 (close) New York - Nasdaq: UP 0.6 percent at 19,174.30 (close) London - FTSE 100: DOWN 0.4 percent at 8,258.61 (close) Paris - CAC 40: DOWN 0.9 percent at 7,194.51 (close) Frankfurt - DAX: DOWN 0.6 percent at 19,295.98 (close) Tokyo - Nikkei 225: DOWN 0.9 percent at 38,442.00 (close) Hong Kong - Hang Seng Index: FLAT at 19,159.20 (close) Shanghai - Composite: DOWN 0.1 percent at 3,259.76 (close) Euro/dollar: DOWN at $1.0482 from $1.0495 on Monday Pound/dollar: DOWN at $1.2567 from $1.2568 Dollar/yen: DOWN at 153.06 yen from 154.23 yen Euro/pound: DOWN at 83.41 pence from 83.51 pence Brent North Sea Crude: DOWN 0.3 percent at $72.81 per barrel West Texas Intermediate: DOWN 0.3 percent at $68.77 per barrel bur-jmb/st
Football Fans Blaming Barstool Sports' Dave Portnoy For Bryce Underwood, NIL Drama
NEW YORK (AP) — Brian Thompson led one of the biggest health insurers in the U.S. but was unknown to millions of people his decisions affected. Then Wednesday's targeted fatal shooting of the UnitedHealthcare CEO on a midtown Manhattan sidewalk thrust the executive and his business into the national spotlight. Thompson, who was 50, had worked at the giant UnitedHealth Group Inc for 20 years and run the insurance arm since 2021 after running its Medicare and retirement business. As CEO, Thompson led a firm that provides health coverage to more than 49 million Americans — more than the population of Spain. United is the largest provider of Medicare Advantage plans, the privately run versions of the U.S. government’s Medicare program for people age 65 and older. The company also sells individual insurance and administers health-insurance coverage for thousands of employers and state-and federally funded Medicaid programs. The business run by Thompson brought in $281 billion in revenue last year, making it the largest subsidiary of the Minnetonka, Minnesota-based UnitedHealth Group. His $10.2 million annual pay package, including salary, bonus and stock options awards, made him one of the company's highest-paid executives. The University of Iowa graduate began his career as a certified public accountant at PwC and had little name recognition beyond the health care industry. Even to investors who own its stock, the parent company's face belonged to CEO Andrew Witty, a knighted British triathlete who has testified before Congress. When Thompson did occasionally draw attention, it was because of his role in shaping the way Americans get health care. At an investor meeting last year, he outlined his company's shift to “value-based care,” paying doctors and other caregivers to keep patients healthy rather than focusing on treating them once sick. “Health care should be easier for people,” Thompson said at the time. “We are cognizant of the challenges. But navigating a future through value-based care unlocks a situation where the ... family doesn’t have to make the decisions on their own.” Thompson also drew attention in 2021 when the insurer, like its competitors, was widely criticized for a plan to start denying payment for what it deemed non-critical visits to hospital emergency rooms. “Patients are not medical experts and should not be expected to self-diagnose during what they believe is a medical emergency,” the chief executive of the American Hospital Association wrote in an open letter addressed to Thompson. “Threatening patients with a financial penalty for making the wrong decision could have a chilling effect on seeking emergency care.” United Healthcare responded by delaying rollout of the change. Thompson, who lived in a Minneapolis suburb and was the married father of two sons in high school, was set to speak at an investor meeting in a midtown New York hotel. He was on his own and about to enter the building when he was shot in the back by a masked assailant who fled on foot before pedaling an e-bike into Central Park a few blocks away, the New York Police Department said. Chief of Detectives Joseph Kenny said investigators were looking at Thompson's social media accounts and interviewing employees and family members. “Didn’t seem like he had any issues at all,” Kenny said. "He did not have a security detail.” AP reporters Michael R. Sisak and Steve Karnowski contributed to this report. Murphy reported from Indianapolis. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Be the first to knowPolice officers stand near a body covered by a tarp outside of Feather River Adventist School after a shooting Wednesday, Dec. 4, 2024, in Oroville, Calif. (Michael Weber/The Chico Enterprise-Record via AP) Police officers stand near a body covered by a tarp outside of Feather River Adventist School after a shooting Wednesday, Dec. 4, 2024, in Oroville, Calif. (Michael Weber/The Chico Enterprise-Record via AP) Emergency personnel state outside the Feather River Adventist School after a shooting Wednesday, Dec. 4, 2024, in Oroville, Calif. (Michael Weber/The Chico Enterprise-Record via AP) Police tape blocks a road outside the Feather River Adventist School after a shooting Wednesday, Dec. 4, 2024, in Oroville, Calif. (Michael Weber/The Chico Enterprise-Record via AP) Police officers stand near a body covered by a tarp outside of Feather River Adventist School after a shooting Wednesday, Dec. 4, 2024, in Oroville, Calif. (Michael Weber/The Chico Enterprise-Record via AP) Butte County Sheriff Kory L. Honea said the 911 calls reported “an individual on campus who had fired shots at students," and said that the shooter did not appear to have a connection to the school.The New Jersey Devils hope the momentum they built leading up to the NHL's holiday break will carry over after the three days off, as the Metropolitan Division leaders start a two-day, home-and-home series with the third-place Carolina Hurricanes on Friday in Newark, N.J. Coach Sheldon Keefe's team has won five of its last six games, including the previous two by shutouts. Jacob Markstrom stopped a dozen shots in the Devils' 5-0 win over the visiting New York Rangers on Monday. That came just two days after he made 12 saves in a 3-0 home victory over the Pittsburgh Penguins. According to the league's record book, the Devils have posted three straight shutouts once, April 1-6, 1997. Jack Hughes scored two goals and added an assist in Monday's win. Timo Meier and Dawson Mercer each notched a goal and an assist, and Jesper Bratt and Luke Hughes both recorded a pair of assists. The Devils' offense has been on display during the last six games, with the team scoring 19 times in the five wins. However, the team's defense has been playing equally as strong. New Jersey has not allowed an opponent to put more than 20 shots on goal in seven games. That's the longest such streak since the NHL started tracking the stat beginning in the 1955-56 season. It's a streak Keefe didn't even know the league tracked when he talked to reporters after the win over the Rangers, but he said it is the result of a team showing the willingness to defend the middle of the rink and keeping the opposition from getting multiple attempts on scoring chances. "Whether it's having the puck well and managing it well or closing space when we don't have it, it's just a really tremendous buy-in and commitment from our guys," Keefe said. "Couldn't ask for more in that regard." That shot-on-goal streak may be in jeopardy Friday as the Devils face a Hurricanes team that averages 31.6 shots per game. Carolina wraps up a four-game road trip Friday. On Monday, it lost for the second time in three contests, falling 5-2 against the Nashville Predators. The Hurricanes trailed 4-0 less than three minutes into the third period before Jordan Staal and Sebastian Aho scored 40 seconds apart, but that was as close as the team would get. Coach Rod Brind'Amour told reporters afterward the Hurricanes' struggles of late are not due to a lack of effort. "We got to keep working it, trying to find the right combinations to spice things," he said. "We know a couple things that we know work, and then it's just finding the rest. But (Monday), we just as a group weren't hard enough to play against for the majority of the game, and we got what we deserved." The holiday break may have come at an opportune time for Martin Necas. The center continues to lead Carolina in scoring, with 44 points (14 goals, 30 assists) in 34 games. However, the 25-year-old Czech is mired in a season-long eight-game goal drought. He's gone the last four games without an assist, which is another season-long streak, and has posted only one in his last six. --Field Level Media
Police arrested a 26-year-old man on Monday in the Manhattan killing of UnitedHealthcare’s CEO after they say a Pennsylvania McDonald's worker alerted authorities to a customer who resembled the suspected gunman. The suspect, identified by police as Luigi Nicholas Mangione, had a gun believed to be the one used in Wednesday’s attack on Brian Thompson , as well as writings expressing anger at corporate America, police said. Here are some of the latest developments in the investigation: Mangione was taken into custody at around 9:15 a.m. after police received a tip that he was eating at a McDonald’s in Altoona, Pennsylvania, about 85 miles (137 kilometers) east of Pittsburgh, police said. Mangione was being held in Pennsylvania on gun charges and will eventually be extradited to New York to face charges in connection with Thompson’s death , said NYPD Chief of Detectives Joseph Kenny. In addition to a three-page, handwritten document that suggests he harbored “ill will toward corporate America,” Kenny said Mangione also had a ghost gun, a type of weapon that can be assembled at home and is difficult to trace. Officers questioned Mangione, who was acting suspiciously and carrying multiple fraudulent IDs, as well as a U.S. passport, New York Police Commissioner Jessica Tisch said at a news conference. Officers also found a sound suppressor, or silencer, “consistent with the weapon used in the murder,” the commissioner said. He had clothing and a mask similar to those worn by the shooter and a fraudulent New Jersey ID matching one the suspect used to check into a New York City hostel before the shooting, Tisch said. Kenny said Mangione was born and raised in Maryland, has ties to San Francisco and that his last known address is in Honolulu. Mangione, who was valedictorian of his Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press on Monday. He learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His social media posts also suggest that he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends at the Jersey Shore and in Hawaii, San Diego, Puerto Rico, and other destinations. The Gilman School, from which Mangione graduated in 2016, is one of Baltimore’s elite prep schools. Some of the city’s wealthiest and most prominent people, including Orioles legend Cal Ripken Jr., have had children attend the school. Its alumni include sportswriter Frank Deford and former Arizona Gov. Fife Symington. In his valedictory speech, Luigi Mangione described his classmates’ “incredible courage to explore the unknown and try new things,” according to a post on the school website. He praised their collective inventiveness and pioneering mindset. Mangione took a software programming internship after high school at Maryland-based video game studio Firaxis, where he fixed bugs on the hit strategy game Civilization 6, according to a LinkedIn profile. Firaxis parent company Take-Two Interactive said Monday it would not comment on former employees. He more recently worked at the car-buying website TrueCar, according to the head of the Santa Monica, California-based company. “While we generally don’t comment on personnel matters, we confirm that Luigi Mangione has not been an employee of our company since 2023,” TrueCar CEO Jantoon Reigersman said by email. Mangione comes from a prominent Maryland family. His grandfather Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The father of 10 children, Nick Mangione prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday, Baltimore County police officers blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. Reporters and photographers gathered outside the entrance. Luigi Mangione is one of 37 grandchildren of Nick Mangione, according to the grandfather's obituary. Luigi Mangione's grandparents donated to charities through the Mangione Family Foundation, according to a statement from Loyola University commemorating Nick Mangione’s wife’s death in 2023. They donated to various causes ranging from Catholic organizations to colleges and the arts. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione, a spokesman for the lawmaker's office confirmed Monday. Police said the person who killed Thompson left a hostel on Manhattan's Upper West Side at 5:41 a.m. on Wednesday. Just 11 minutes later, he was seen on surveillance video walking back and forth in front of the New York Hilton Midtown, wearing a distinctive backpack. At 6:44 a.m., he shot Thompson at a side entrance to the hotel, fled on foot, then climbed aboard a bicycle and within four minutes had entered Central Park. Another security camera recorded the gunman leaving the park near the American Museum of Natural History at 6:56 a.m. still on the bicycle but without the backpack. After getting in a taxi, he headed north to a bus terminal near the George Washington Bridge, arriving at around 7:30 a.m. From there, the trail of video evidence runs cold. Police have not located video of the suspect exiting the building, leading them to believe he likely took a bus out of town. Police said they are still investigating the path the suspect took to Pennsylvania. “This just happened this morning," Kenny said. "We’ll be working, backtracking his steps from New York to Altoona, Pennsylvania,” Kenny said. Associated Press reporters Lea Skene in Baltimore, Matt O'Brien in Providence, Rhode Island, and Cedar Attanasio in New York contributed to this report.DETROIT — China will soon see a massive expansion of electric vehicle battery swapping, as global battery maker CATL said Wednesday it is investing heavily in stations there next year. Battery swapping is not new — but it's had a challenging journey. Adoption of electric vehicles has varied in regions across the globe over the past several years, and that doesn't always bode well for building new infrastructure. While the technology could do well in China, it's uncertain whether it could work in other countries. What is battery swapping? Battery swapping allows EV drivers to pull into a station on a low battery and receive a swapped, fully-charged battery within minutes. An EV has to be equipped with the right technology to receive a swap — and not many models around the world currently have it. Automakers have to buy into the idea, and EV adoption among consumers also has to grow, so that investing in new infrastructure seems worthwhile. Consumers also have to be comfortable not owning their battery. Why could it work in China? China is much further along in adopting EVs than other countries. Not only is it the world's largest auto market, but in July, the country hit a milestone with 50% of new sales electric — and it accounts for most of this year's global EV sales. China supports EV growth through government subsidies and mandates. So it makes more sense for companies to invest in unique EV infrastructure there because that's more likely to be needed. What other attempts at battery swapping have occurred? The most notable example might be Israeli startup Better Place, which tried its hand at swapping in 2007. But the company shut down a few years later after investing a lot of money and coming up against roadblocks with logistics. EV adoption was especially low at the time. Could it work in the United States? Europe? Startup Ample, for example, has a modular battery swapping station that it says can complete a swap in 5 minutes. That’s important as charging time remains a point of concern for prospective EV buyers. Even the fastest fast chargers could take at least 15 minutes for a decent charge. But in the U.S., pure EVs only accounted for 8% of new vehicle sales as of November. Meanwhile Nio, a rival Chinese EV brand, has about 60 swap stations in northern Europe, and the EV adoption is higher there than the U.S., but the same challenges remain. Different automakers put different batteries in their various EV models, so a station would need all of those available if the industry didn't agree to a standardized battery, and not all of those models are out yet in volume. This is something that really needs scale. Swapping could help with EV cost — currently a barrier to adoption for many — because a driver wouldn’t necessarily own the most expensive part of an EV: the battery. Greg Less, director of the University of Michigan Battery Lab, said with proper framing and education, people might like the idea of battery swapping. To him, it's not unlike buying a propane-fueled grill and purchasing a refilled tank every so often. But it would require a rethinking of car ownership. "Where I could see it working is if we went entirely away from vehicle ownership and we went to a use-on-demand model," Less added. “I don’t think we’re there yet.” What vehicle uses might be best for swapping? Battery swapping might make most sense for ride-sharing or other fleet vehicles. Drivers of buses, taxis, Uber or Lyft vehicles want to spend as much time on the road as possible, transporting customers and making money. If battery swapping can shorten the time needed to charge EVs, that makes driving one less disruptive to their business. ___ Alexa St. John is an Associated Press climate solutions reporter. Follow her on X: @alexa_stjohn . Reach her at ast.john@ap.org .
LOBITO, Angola — President Joe Biden pledged another $600 million Wednesday for an ambitious multi-country rail project in Africa as one of the final foreign policy moves of his administration, and told African leaders the resource-rich continent of more than 1.4 billion people had been “left behind for much too long.” “But not anymore,” Biden added. “Africa is the future.” Biden used the third and final day of a visit to Angola — his long-awaited first trip to sub-Saharan Africa as president — to travel to the coastal city of Lobito and tour an Atlantic port terminal that’s part of the Lobito Corridor railway redevelopment. Biden described it as the largest U.S. investment in a train project outside America. The U.S. and allies are investing heavily in the project that will refurbish nearly 2,000 kilometers (1,200 miles) of train lines connecting to the mineral-rich areas of Congo and Zambia in central Africa. The corridor, which likely will take years to complete, gives the U.S. better access to cobalt, copper and other critical minerals in Congo and Zambia that are used in batteries for electric vehicles, electronic devices and clean energy technologies that Biden said would power the future. China is dominant in mining in Congo and Zambia. The U.S. investment has strategic implications for U.S.-China economic competition, which went up a notch this week as they traded blows over access to key materials and technologies. The African leaders who met with Biden on Wednesday said the railway corridor offered their countries a much faster route for minerals and goods — and a convenient outlet to Western markets. “This is a project that is full of hope for our countries and our region,” said Congo President Félix Tshisekedi, whose country has more than 70% of the word’s cobalt. “This is not just a logistical project. It is a driving force for economic and social transformation for millions of our people.” The leaders said the corridor should spur private-sector investment and improve a myriad of related areas like roads, communication networks, agriculture and clean energy technologies. For the African countries, it could create a wave of new jobs for a burgeoning young population. “It’s a huge, huge opportunity,” said Zambian President Hakainde Hichilema. “It’s good for Africa.” Cargo that once took 45 days to get to the U.S. — usually involving trucks via South Africa — would now take around 45 hours, Biden said. He predicted the project could transform the region from a food importer to exporter. It’s “something that if done right will outlast all of us and keep delivering for our people for generations to come,” he said. The announcement of an additional $600 million took the U.S.’s investment in the Lobito Corridor to $4 billion. The corridor has drawn financing from others including the European Union, the Group of Seven leading industrialized nations, a Western-led private consortium and African banks. Biden said the total investment was $6 billion. Some calling for more U.S. involvement in Africa hope it will mark a new era of U.S.-Africa engagement. Much of that depends on the administration of Donald Trump , who takes office Jan. 20. The White House says Republicans in Congress have supported past efforts to promote African business interests through targeted investments and that such initiatives have appealed to Trump in the past. Trump also supports measures to counter China, and some see the Lobito Corridor as a direct counter to the Belt and Road Initiative infrastructure strategy that China has used to promote its economic and political influence in Africa and elsewhere. A senior U.S. administration official called the Lobito Corridor the heart of competing with China not as a political adversary but from a business standpoint by sparking investment and helping countries over the long term. The U.S. is looking to replicate the Lobito Corridor project in other parts of the world, said the official, who briefed reporters on condition of anonymity to offer details that hadn’t yet been made public. Biden had promised to visit sub-Saharan Africa last year but the trip was delayed. He was greeted Monday by thousands of Angolans on the streets of the capital, Luanda. Angola has long and strong ties to China, and the Biden administration’s ability to win it over as a partner for such a major project has been viewed as a rare success for the U.S. in Africa. Biden, who has about six weeks left in office, said he would like to come back to see the railway’s progress. “I want to come back and ride the whole thing,” he told the African leaders, before departing. Imray reported from Cape Town, South Africa.
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SANTA CLARA, Calif. (AP) — When the San Francisco 49ers used a third-round pick to draft Jake Moody last year, the hope was it would settle their kicking position for years to come. A shaky second half to Moody’s second season with San Francisco has put that into question headed to the offseason. Moody missed his sixth field goal in the past seven games last week, leading to questions about whether the 49ers will need to replace him or at least bring in competition for next season. Coach Kyle Shanahan expressed confidence in Moody on Thursday, attributing some of the struggles to a high ankle sprain he suffered in his kicking leg earlier in the season. “I still feel the same about him, that I believe he is going to be our guy,” Shanahan said. “Everyone has got to perform and do things like that and I think he has had a tough year. ... I thought he was doing really well and then had a high ankle sprain to his kicking foot. Since he’s come back, he hasn’t been as consistent, obviously. But I think a lot of that probably has to do with that, just common-sense wise.” Moody got off to a strong start this season, making all six field goals he attempted in the season opener and going 13 for 14 before injuring his ankle while attempting to make a tackle on a kickoff return in Week 5. He missed three games and has struggled since he returned. He missed three field goals in first first game back at Tampa Bay, two more in the snow at Buffalo in Week 13 and then a 41-yarder last week against the Dolphins. “That’s the great thing about kicking is, you can be as talented as whoever and you can struggle,” Moody said. “I feel like this year, I’ve struggled. It doesn’t really waver my confidence or anything. I feel like, throughout my entire life, I’ve gone through struggles, I’ve gone through high points. The biggest thing is to just stay consistent, not change anything.” Moody had an up-and-down rookie season, making 21 of 25 field goals in the regular season and missing only one extra point. But he missed a potential game-winning kick in a loss at Cleveland and missed field goals in playoff wins against Green Bay and Detroit. Moody then made three field goals in the Super Bowl with two coming from more than 50 yards, including a go-ahead 53-yard kick late in the fourth quarter against Kansas City. But Moody also had an extra point blocked in that game. “I believe we’ve got the right guy and I think that eventually, I think he has shown that at times,” Shanahan said. “I thought he showed that at times his rookie year. I thought he showed that big time being 12 out of 13 to start this year. And I think he’ll show us all that in the future.” NOTES: The Niners placed LT Trent Williams on IR after his ankle injury hasn’t healed as quickly as hoped. Shanahan didn’t think there were any long-term issues. ... LB Dre Greenlaw (calf) will be shut down for the rest of the season after playing parts of two games in his return from a torn left Achilles tendon. ... OL Spencer Burford (calf) didn’t practice but might be able to play this week. ... San Francisco has signed two OL this week, adding Matt Hennessy and Charlie Heck. ... RB Isaac Guerendo (hamstring, foot) was limited but appears on track to play this week. ___ AP NFL: https://apnews.com/hub/NFL
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