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The signs at Nippon Steel read: “The world through steel,” underlining why Japan’s top steelmaker is pursuing its $15 billion bid to acquire U.S. Steel. “We can’t expect demand in Japan to grow as the population is declining. We need to invest in production that leads to growth,” a company official, Masato Suzuki, said while giving reporters a look at a Nippon Steel plant in Ibaraki Prefecture, north of Tokyo. Nippon Steel Corp. has its eyes on India, Southeast Asia and the U.S., Suzuki said. About 70% of the plant's output is exported. The Tokyo-based company remains optimistic, although the deal is opposed by President-elect Donald Trump, President Joe Biden and American steelworkers. During the tour, slabs of steel, glowing hot-orange at more than 1,000 degrees Celsius, rolled through the cavernous plant to become giant spools of super-thin steel. Nippon Steel officials didn’t disclose details of the fine technology they said the planned acquisition would offer U.S. Steel. Under the proposed deal, first announced in 2023, U.S. Steel would keep its name and its headquarters in Pittsburgh, Pennsylvania, becoming a subsidiary of Nippon Steel. Nippon Steel already has manufacturing operations in the U.S. and Mexico, China and Southeast Asia. It supplies the world’s top automakers, including Toyota Motor Corp., and makes steel for railways, pipes, appliances and skyscrapers. The American steel industry has waned as Chinese steelmakers have grown to dominate the market. Japan wants to leverage the decades-old U.S.-Japan security and political alliance to seal the acquisition, but the outlook is uncertain. In September, an arbitration board jointly chosen by U.S. Steel and United Steelworkers decided the proposed acquisition could proceed. But United Steelworkers union, which has 1.2 million members, have objected, citing worries about job losses and contract terms. The union has questioned Nippon Steel’s plans to transfer production locations and concerns about national security and domestic supply chains. When asked for comment, it referred to a recent letter to its members. “As a union, our primary concern is the future of our jobs and the communities we live and work in — not just this year, but also for the foreseeable future. We’ve seen job losses in the past, and we must do everything we can to avoid it in the future,” said the letter, co-signed by Mike Millsap, chairman of the negotiating committee, and its international president, David McCall. “While Japan is a political ally, it is also an economic competitor, one that has proven time and again that it is willing to promote its steel industry at our expense,” the union said. Nippon Steel is promising to “preserve the legacy” of U.S. Steel and protect jobs, pensions and benefits, pledging that there will be no layoffs or plant closures. The deal is expected to produce an economic boost for the region equivalent to nearly $1 billion in the first two years, create up to 5,000 construction jobs and generate almost $40 million in state and local taxes, according to Nippon Steel. William W. Grimes, professor of international relations and political science at Boston University, said Nippon Steel's commitment to keeping the U.S. Steel factories running would help preserve U.S.-based production of specialty steels. Nippon Steel also has also promised investments to make the factories more competitive. There is no militarily sensitive technology Nippon Steel would be able to take from the U.S., and the U.S. relies on steel produced in allied countries, including Japan, Grimes said. “If Japanese companies do draw a lesson, it should be to engage unions and local politicians early in the process,” he said.
A ceasefire deal that could end more than a year of cross-border fighting between Israel and Lebanon's Hezbollah militant group won backing from Israeli leaders Tuesday, raising hopes and renewing difficult questions in a region gripped by conflict. Read this article for free: Already have an account? To continue reading, please subscribe: * A ceasefire deal that could end more than a year of cross-border fighting between Israel and Lebanon's Hezbollah militant group won backing from Israeli leaders Tuesday, raising hopes and renewing difficult questions in a region gripped by conflict. Read unlimited articles for free today: Already have an account? A ceasefire deal that could end more than a year of cross-border fighting between Israel and Lebanon’s Hezbollah militant group won backing from Israeli leaders Tuesday, raising hopes and renewing difficult questions in a region gripped by conflict. Hezbollah leaders also signaled tentative backing for the U.S.-brokered deal, which offers both sides an off-ramp from hostilities that have driven more than 1.2 million Lebanese and 50,000 Israelis from their homes. An intense bombing campaign by Israel has killed more than 3,700 people, many of them civilians, Lebanese officials say. But while the deal, set to take effect early Wednesday, could significantly calm the tensions that have inflamed the region, it does little directly to resolve the much deadlier war that has raged in Gaza since the Hamas attack on southern Israel in October 2023 that killed 1,200 people. Hezbollah, which began firing scores of rockets into Israel the following day in support of Hamas, has previously said it would keep fighting until there was a stop to the fighting in Gaza. Here’s what to know about the tentative ceasefire agreement and its potential implications: The terms of the deal The agreement reportedly calls for a 60-day halt in fighting that would see Israeli troops retreat to their side of the border while requiring Hezbollah to end its armed presence in a broad swath of southern Lebanon. President Joe Biden said Tuesday that the deal is set to take effect at 4 a.m. local time on Wednesday (9 p.m. EST Tuesday). Under the deal, thousands of Lebanese troops and U.N. peacekeepers are to deploy to the region south of the Litani River. An international panel lead by the U.S. would monitor compliance by all sides. Biden said the deal “was designed to be a permanent cessation of hostilities.” Israel has demanded the right to act should Hezbollah violate its obligations. Lebanese officials have rejected writing that into the proposal. Israel’s Defense Minister Israel Katz insisted Tuesday that the military would strike Hezbollah if the U.N. peacekeeping force, known as UNIFIL, does not provide “effective enforcement” of the deal. Lingering uncertainty A Hezbollah leader said the group’s support for the deal hinged on clarity that Israel would not renew its attacks. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Qatari satellite news network Al Jazeera. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state” of Lebanon, he said. The European Union’s top diplomat, Josep Borrell, said Tuesday that Israel’s security concerns had been addressed in the deal also brokered by France. Where the fighting has left both sides After months of cross-border bombings, Israel can claim major victories, including the killing of Hezbollah’s top leader, Hassan Nasrallah, most of his senior commanders and the destruction of extensive militant infrastructure. A complex attack in September involving the explosion of hundreds of walkie-talkies and pagers used by Hezbollah was widely attributed to Israel, signaling a remarkable penetration of the militant group. The damage inflicted on Hezbollah has come not only in its ranks, but to the reputation it built by fighting Israel to a stalemate in the 2006 war. Still, its fighters managed to put up heavy resistance on the ground, slowing Israel’s advance while continuing to fire scores of rockets, missiles and drones across the border each day. The ceasefire offers relief to both sides, giving Israel’s overstretched army a break and allowing Hezbollah leaders to tout the group’s effectiveness in holding their ground despite Israel’s massive advantage in weaponry. But the group is likely to face a reckoning, with many Lebanese accusing it of tying their country’s fate to Gaza’s at the service of key ally Iran, inflicting great damage on a Lebanese economy that was already in grave condition. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. No answers for Gaza Until now, Hezbollah has insisted that it would only halt its attacks on Israel when it agreed to stop fighting in Gaza. Some in the region are likely to view a deal between the Lebanon-based group and Israel as a capitulation. In Gaza, where officials say the war has killed more than 44,000 Palestinians, Israel’s attacks have inflicted a heavy toll on Hamas, including the killing of the group’s top leaders. But Hamas fighters continue to hold scores of Israeli hostages, giving the militant group a bargaining chip if indirect ceasefire negotiations resume. Hamas is likely to continue to demand a lasting truce and a full Israeli withdrawal from Gaza in any such deal. Palestinian Authority President Mahmoud Abbas offered a pointed reminder Tuesday of the intractability of the war, demanding urgent international intervention. “The only way to halt the dangerous escalation we are witnessing in the region, and maintain regional and international stability, security and peace, is to resolve the question of Palestine,” he said in a speech to the U.N. read by his ambassador. Advertisement AdvertisementThe Federal Government has been commended for its interventions so far in ensuring that farmers, processors and other players in the agricultural value-chain under the “Agricultural Transformation Agenda Support Programme Phase-One” known as “ATASP-1”, are supported and encouraged to contribute to food security in Nigeria. Some farmers who have benefitted from the ATASP-1 project in Anambra and Enugu states on Saturday made the commendations when a delegation from Africa Development Bank, Federal Ministry of Agriculture and Food Security, Ministry of Finance, Water Resources as well as ATASP-1, toured some project sites in communities located in Anambra and Enugu states. The rural farmers hailed the Federal Government’s interventions, saying, “With ATASP-1, the realisation of President Bola Tinubu’s agenda on food for all will be achievable in no distant time.” In late 2020, the Federal Government, through the ATASP-1, awarded a contract for the concrete Lining of 22.45KM and 44.1km of Irrigation Canals in the Adani and Omor communities of Ayamelum Local Government axis of Anambra, which is a border town to Enugu State. The ATASP-1 authorities said the massive projects aimed to ensure dry season rice farming in the communities, thereby contributing to the Federal Government’s food security agenda in the country. The teams visited numerous project sites executed under ATASP-1 in communities such as the Adani and Omor axis of Anambra and Enugu states to evaluate the status and quality of projects and assess the impact of the numerous agricultural transformation programmes of the Federal Government being financed by the AfDB. During the visit to the communities on Saturday, the Zonal Coordinator of ATASP-1 in Adani-Omor Zone, Dr Romanus Egba, in his remarks, said the aim of the project was, “to give the farmers a sure means of survival by empowering them with capacity building, inputs support, as well as creating an enabling environment for increase food production with economic and social/ancillary infrastructures also provided to enhance their living standard”. The National Programme Coordinator of the programme, Dr Ibrahim Arabi, also added that ATASP-1 has proven to be a game-changer in the quest by the Federal Government to address food insecurity in the country. Arabi expressed joy with the outpouring of testimonies from beneficiaries of the programme in the Adani-Omor Zone. The AfDB Task Team Manager for ATASP-1, Dr Tobi Karikari, also expressed satisfaction with the achievements made so far by the FG through ATASP-1 both in the provision of infrastructure and empowerment for the farmers. Karikari, therefore, called on the farmers to put into proper use the facilities and knowledge gathered to enable them to contribute their quota towards building a greater society. Related News Anambra: Two injured in police, hoodlums gun battle Chinese, five others arrested in Anambra for illegal mining Anambra awards N55bn road, streetlight contracts, others In Adani, the team inspected the Double Span Obinna Bridge which connects the Ada Rice Irrigation Project farm command areas, feeder roads as well as recently completed canals which is already supplying water to the field for dry season farming. The team also visited the Modern Rice Market built by ATASP-1 at Adani as well as the Modern Cottage Hospital at Asaba, also in Uzo-Uwani LGA of Enugu State. In Ayamelum, the team visited the Lower Anambra Irrigation Project, LAIP’s pumping station at Ifite-Ogwari, as well as ongoing Canal Lining sites at Omor as well as completed access roads. The team also interacted with beneficiaries at Adani and Omor who took turns to testify on how the ATASP-1 trainings on Good Agronomic Practices, GAPs, and other supports had transformed their lives. A rice farmer from Omor community, Chief Obiora Mmuoneke, testified that with ATASP-1 training and support, he was able to build a six-room bungalow train three of his children to the university levels and expand his business. Another lead farmer in the area, Chief Cletus Obiora, while thanking ATASP-1, remarked that with the concrete lining and resuscitation of the irrigation system in the area, they are expecting to produce more tonnes of rice annually. A rice farmer and processor from Omor community, Mrs Gloria Udemezue, said that apart from expanding her farming production from two to six hectares, she now makes more money from producing snacks from rice flour. Udemezue said, “Under ATASP-1, we have prospered beyond our imagination. I built my own house and trained my four children in schools, among others.” During an interactive session at Adani, the Chairman of Uzo-Uwani Local Government, Chijioke Ezeugwu, represented by the Local Government Secretary, Casmir Adamu, commended ATASP-1, for the quality of infrastructure they built in the area and pledged that the council would continue to partner with both the Federal and state governments in ensuring the security of farmers and well utilization of the infrastructures. A lead farmer, Chief Bernard Idu, while recalling the difficulties they faced while trying to evacuate produce from the farmlands, commended the agency for being upright in the supervision and execution of the numerous projects.Surveillance tech advances by Biden could aid in Trump's promised crackdown on immigration
A delegation of Norfund, Societe Generale and NDB Bank, and SAEL Ltd. met Andhra Pradesh Chief Minister N. Chandrababu Naidu and Minister for Information Technology N. Lokesh on December 14, 2024 (Saturday). Mr. Naidu had a discussion with them about the investment opportunities under the Andhra Pradesh’s Integrated Clean Energy Policy. Mr. Naidu stated on X that Andhra Pradesh was welcoming investors to develop Renewable Energy projects, thereby assisting in India’s energy transition. He called upon the senior executives of SAEL Ltd. to develop Waste-to-Energy projects in the State. IT Minister N. Lokesh with the delegates of SAEL Ltd., Norfund, Societe Generale, and NDB Bank on Saturday. In a post on X, Mr. Lokesh said he had a discussion with the delegates from SAEL Ltd. about its upcoming projects in the State, and deliberated with the senior managerial personnel of Norfund, Societe Generale and NDB Bank about how the State government could facilitate and multiply their investments. Norfund is the Norwegian Investment Fund for developing countries owned and funded by the Norwegian Government. Societe Generale is a French multinational bank, and NDB Bank is a leading bank in Sri Lanka. SAEL Ltd. is a New Delhi-based company offering solar energy, Waste-to-Energy and module manufacturing solutions in the energy sector, especially in the Renewable Energy landscape. Published - December 14, 2024 07:45 pm IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit Andhra Pradesh / foreign investment / renewable energyGiants release quarterback Daniel Jones just days after benching him EAST RUTHERFORD, N.J. (AP) — The Daniel Jones era in New York is over. The Giants quarterback was granted his release by the team just days after the franchise said it was benching him in favor of third-stringer Tommy DeVito. New York president John Mara said Jones approached the team about releasing him and the club obliged. Mara added he was “disappointed” at the quick dissolution of a once-promising relationship between Jones and the team. Giants coach Brian Daboll benched Jones in favor of DeVito following a loss to the Panthers in Germany that dropped New York's record to 2-8. Week 16 game between Denver Broncos and Los Angeles Chargers flexed to Thursday night spot The Los Angeles Chargers have played their way into another prime time appearance. Justin Herbert and company have had their Dec. 22 game against the Denver Broncos flexed to Thursday night, Dec. 19. Friday’s announcement makes this the first time a game has been flexed to the Thursday night spot. The league amended its policy last season where Thursday night games in Weeks 13 through 17 could be flexed with at least 28 days notice prior to the game. The matchup of AFC West division rivals bumps the game between the Cleveland Browns and Cincinnati Bengals to Sunday afternoon. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Noodles and wine are the secret ingredients for a strange new twist in China's doping saga Blame it on the noodles. That's what one Chinese official suggested when anti-doping leaders were looking for answers for the doping scandal that cast a shadow over this year's Olympic swim meet. Earlier this year, reports that 23 Chinese swimmers had tested positive for a banned heart medication emerged. None were sanctioned because Chinese authorities determined the swimmers were contaminated by traces of the drug spread about a hotel kitchen. In a strange twist, the leader of China's anti-doping agency suggested this case could have been similar to one in which criminals were responsible for tainting noodles that were later eaten by another Chinese athlete who also tested positive for the drug. Conor McGregor must pay woman $250K in sexual assault case, civil jury rules LONDON (AP) — A civil jury in Ireland has found that mixed martial arts fighter Conor McGregor sexually assaulted a woman in a hotel penthouse after a night of heavy partying. The Dublin jury awarded the woman more than $250,000 for her lawsuit that claimed McGregor “brutally raped and battered” her on Dec. 9, 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified he never forced her to do anything and that the woman had fabricated her allegations after the two had consensual sex. The jury found for the woman on Friday. Nick Chubb plows through heavy snow for 2-yard TD, giving Browns 24-19 win over Steelers CLEVELAND (AP) — Nick Chubb ran for a 2-yard touchdown in heavy snow with 57 seconds left, and the Cleveland Browns stunned division rival Pittsburgh 24-19, ending the Steelers’ five-game winning streak. The Browns had blown a 12-point lead in the fourth quarter and were down 19-18 before getting the ball back with 3:22 remaining after Pittsburgh punter Corliss Waitman shanked a 16-yarder. With snow piling up and covering the yard lines on the field, Cleveland’s Jameis Winston completed a third-down pass to Jerry Jeudy to the Pittsburgh 9. Two plays later, Chubb barreled into the end zone. The AFC North-leading Steelers fell to 8-3 while the Browns are 3-8. Shohei Ohtani in early stages of rehab from shoulder surgery and hopes to be ready for opening day LOS ANGELES (AP) — Shohei Ohtani is in the early stages of rehabilitation from left shoulder surgery after the World Series. The Los Angeles Dodgers superstar says the goal is for him to be ready to pitch and hit by opening day next March, but he's going to be conservative in his approach and make sure he's totally healthy first. Ohtani won his third MVP award Thursday, and first in the National League. He was in Los Angeles with his wife and beloved dog, Decoy, although because of his surgery four days after the Dodgers' World Series victory over the New York Yankees, the family hasn't been able to celebrate. Caitlin Clark to join Cincinnati bid for 16th National Women's Soccer League team WNBA star Caitlin Clark has joined Cincinnati’s bid for an expansion National Women’s Soccer League team. Major League Soccer franchise FC Cincinnati is heading the group vying to bring a women’s pro team to the city. The club issued a statement confirming Clark had joined the bid group. NWSL Commissioner Jessica Berman has said the league plans to announce the league’s 16th team by the end of the year. The league's 15th team will begin play in 2026 in Boston. In a 'Final Four-type weekend,' two top-6 clashes put women's college basketball focus on West Coast LOS ANGELES (AP) — Two games featuring four powerhouse teams has put the focus in women's college basketball on the West Coast this weekend. JuJu Watkins and No. 3 Southern California host Hannah Hidalgo and No. 6 Notre Dame on Saturday. Top-ranked South Carolina visits Lauren Betts and fifth-ranked UCLA on Sunday. Both games are nationally televised and the arenas are expected to be packed. WNBA scouts will be on hand to check out some of the nation's top talent. Two teams will come away with their first losses of the season. USC coach Lindsay Gottlieb calls it “a Final Four-type weekend.” A documentary featuring Watkins will air on NBC ahead of USC's game, which leads into the Army-Notre Dame football game. Shohei Ohtani wins third MVP award, first in NL. Aaron Judge earns second AL honor in 3 seasons NEW YORK (AP) — Shohei Ohtani won his third Most Valuable Player Award and first in the National League, and Aaron Judge earned his second American League honor on Thursday. Ohtani was a unanimous MVP for the third time, receiving all 30 first-place votes and 420 points in voting by the Baseball Writers’ Association of America. New York Mets shortstop Francisco Lindor was second with 263 points and Arizona second baseman Ketel Marte third with 229. Judge was a unanimous pick for the first time. Kansas City shortstop Bobby Witt Jr. got all 30 second-place votes for 270 points, and Yankees outfielder Juan Soto was third with 21 third-place votes and 229 points.
Police issue tips to bank users against ATM fraudstersChanges abound for ISU football
Rangers reclaim D-Chowk from PTI protesters as intense shelling, clashes rage on
With its stock up 2,500% in the past five years, it's perhaps not surprising that investors are looking for the next Nvidia ( NVDA -2.25% ) . The company has been the biggest winner from the artificial intelligence (AI) boom and as a result has become one of the largest companies in the world. I was recently browsing a stock message board when I saw an investor ask which stock will be the next Nvidia. The overwhelming response was Palantir ( PLTR 3.92% ) . The company has already had a strong 2024 and its stock has been among the biggest winners on Wall Street this year. With that said, let's dig into what it would take for Palantir stock to become the next Nvidia in the coming years. But first we'll have to decide what that actually means. Nvidia was trading at a split-adjusted price of about $5.30 around five years ago (Dec. 6, 2019) and trades at around $138 as of this writing, which is about a 26 times gain. The company has a market cap of about $3.5 trillion as of this writing. Palantir ended 2022 at $6.42 and was trading at roughly $72 on Dec. 11. From that perspective, the stock would have to rise to around $165 to be considered the next Nvidia from a percentage gain perspective, which is about another 130% increase. However, if we wanted to define the next Nvidia as being the next $3.4 trillion stock, Palantir shares would have have to soar 20 times. Since investors are most likely interested in finding a stock that will come close to Nvidia's returns over the next five years, we'll see if Palantir can become one of the world's largest companies in that time frame. Notably, Palantir's market cap is actually more today ($165 billion) than Nvidia's was at the end of 2019 ($144 billion). Palantir needs parabolic revenue growth to become the next Nvidia Palantir currently trades at what would be considered an astronomical valuation, with a forward price-to-sales (P/S) ratio of about 48 times next year's analyst estimates. This is for a company that grew its total revenue by 30% last quarter. PLTR PS Ratio (Forward 1y) data by YCharts That's not a justifiable valuation given that growth, so there are certainly some investors who see the possibility of Palantir's growth going parabolic in the years ahead. After minimal revenue growth in its fiscal 2023 ended in January, that's just what Nvidia was able to do -- experience parabolic revenue growth. For fiscal 2024, it grew its revenue by 123%, while through the first nine months of this year it increased revenue by 135%. Palantir will need to see similar growth and for a longer period of time, since while its market cap is starting from a higher valuation, its projected 2024 sales (around $2.8 billion) are much lower than Nvidia's 2019 sales ($10.9 billion). Is Palantir the next huge AI winner? Palantir initially made its mark with the U.S. government, where its data gathering and pattern recognition software helped it become the most effective tool in fighting terrorism. It did this by being able to pull in data from a multitude of sources and make connections that might not be obvious. Later its technology was used by the Centers for Disease Control and Prevention to track the spread of COVID-19. Following a period of slowing growth, the company's growth accelerated this year with its new Artificial Intelligence Platform (AIP) gaining strong momentum in the commercial sector. Its number of U.S. commercial customers surged 77% year over year last quarter, while U.S. commercial revenue soared 54% to $179 million. The company credited its success in the U.S. commercial sector to "unrelenting AI demand." Meanwhile, the U.S. government has also been increasing its spending after a period of slowing growth. The company's U.S. government revenue growth decelerated to only 14% last year, down from 19% growth in 2022. However, its U.S. government revenue climbed 40% last quarter as every part of government was beginning to embrace the use of large language models (LLMs). However, Palantir does not think that creating the best LLM is the way to win the AI race. Instead, it thinks the key to AI moving forward is in the application and workflow layer, which is where its technology sits. It believes this starts with its ontology, which sits on top of the digital assets that are integrated into its platform, such as datasets and models, and then connects them to their real-world counterparts, which can be tangible assets like products or concepts like customer orders. As such, Palantir is able to use its AIP technology for a lot of different use cases across various industries. It is also able to quickly move from proof-of-concept to AI-powered software solutions that can work effectively in real-world environments through the use of rigorous testing and evaluation tools with its platform. It is this ability to get AI up and running in real-world environments without any negative impact from hallucinations (outputs that make no sense) and a lack of transparency that could help turn Palantir into the next Nvidia. Search results with some obvious gaffes is one thing, but if organizations are using AI solutions as a critical part of their businesses, they can't have AI making mistakes. This appears to be Palantir's secret ingredient. While Palantir's U.S. commercial revenue growth has been soaring, much of it is still with prototype work. One of the company's big opportunities is transitioning this into production. Palantir has already been seeing solid growth within its existing customer base, with a net dollar retention rate of 118% last quarter. This metric reveals how much revenue came from existing customers that have been with the company for more than a year after customer churn. However, it doesn't include newer customers recently added that have already been starting to expand. Palantir's long-term AI prospects Adding new customers and moving them into production is what will give the company the possibility of seeing its revenue growth go parabolic. If it has the superior application and workflow layer, it could be the ultimate AI winner on the software side, much like Nvidia has been the winner on the hardware side. That said, much of this is already priced into the stock, which at current levels does make it a pretty speculative investment. To reach the heights of Nvidia, the company would have to double revenue each year for the next five years while keeping a 40 P/S multiple. That won't be easy.
It looked like a recipe for disaster. So, when his country's swimmers were being accused of doping earlier this year, one Chinese official cooked up something fast. He blamed it on contaminated noodles. In fact, he argued, it could have been a culinary conspiracy concocted by criminals, whose actions led to the cooking wine used to prepare the noodles being laced with a banned heart drug that found its way into an athlete's system. This theory was spelled out to international anti-doping officials during a meeting and, after weeks of wrangling, finally made it into the thousands of pages of data handed over to the lawyer who investigated the case involving 23 Chinese swimmers who had tested positive for that same drug. The attorney, appointed by the World Anti-Doping Agency, refused to consider that scenario as he sifted through the evidence. In spelling out his reasoning, lawyer Eric Cottier paid heed to the half-baked nature of the theory. "The Investigator considers this scenario, which he has described in the conditional tense, to be possible, no less, no more," Cottier wrote. Even without the contaminated-noodles theory, Cottier found problems with the way WADA and the Chinese handled the case but ultimately determined WADA had acted reasonably in not appealing China's conclusion that its athletes had been inadvertently contaminated. Critics of the way the China case was handled can't help but wonder if a wider exploration of the noodle theory, details of which were discovered by The Associated Press via notes and emails from after the meeting where it was delivered, might have lent a different flavor to Cottier's conclusions. "There are more story twists to the ways the Chinese explain the TMZ case than a James Bond movie," said Rob Koehler, the director general of the advocacy group Global Athlete. "And all of it is complete fiction." In April, reporting from the New York Times and the German broadcaster ARD revealed that the 23 Chinese swimmers had tested positive for the banned heart medication trimetazidine, also known as TMZ. China's anti-doping agency determined the athletes had been contaminated, and so, did not sanction them. WADA accepted that explanation, did not press the case further, and China was never made to deliver a public notice about the "no-fault findings," as is often seen in similar cases. The stock explanation for the contamination was that traces of TMZ were found in the kitchen of a hotel where the swimmers were staying. In his 58-page report, Cottier relayed some suspicions about the feasibility of that chain of events — noting that WADA's chief scientist "saw no other solution than to accept it, even if he continued to have doubts about the reality of contamination as described by the Chinese authorities." But without evidence to support pursuing the case, and with the chance of winning an appeal at almost nil, Cottier determined WADA's "decision not to appeal appears indisputably reasonable." A mystery remained: How did those traces of TMZ get into the kitchen? Shortly after the doping positives were revealed, the Institute of National Anti-Doping Organizations held a meeting on April 30 where it heard from the leader of China's agency, Li Zhiquan. Li's presentation was mostly filled with the same talking points that have been delivered throughout the saga — that the positive tests resulted from contamination from the kitchen. But he expanded on one way the kitchen might have become contaminated, harkening to another case in China involving a low-level TMZ positive. A pharmaceutical factory, he explained, had used industrial alcohol in the distillation process for producing TMZ. The industrial alcohol laced with the drug "then entered the market through illegal channels," he said. The alcohol "was re-used by the perpetrators to process and produce cooking wine, which is an important seasoning used locally to make beef noodles," Li said. "The contaminated beef noodles were consumed by that athlete, resulting in an extremely low concentration of TMZ in the positive sample. "The wrongdoers involved have been brought to justice." This new information raised eyebrows among the anti-doping leaders listening to Li's report. So much so that over the next month, several emails ensued to make sure the details about the noodles and wine made their way to WADA lawyers, who could then pass it onto Cottier. Eventually, Li did pass on the information to WADA general counsel Ross Wenzel and, just to be sure, one of the anti-doping leaders forwarded it, as well, according to the emails seen by the AP. All this came with Li's request that the noodles story be kept confidential. Turns out, it made it into Cottier's report, though he took the information with a grain of salt. "Indeed, giving it more attention would have required it to be documented, then scientifically verified and validated," he wrote. Neither Wenzel nor officials at the Chinese anti-doping agency returned messages from AP asking about the noodles conspiracy and the other athlete who Li suggested had been contaminated by them. Meanwhile, 11 of the swimmers who originally tested positive competed at the Paris Games earlier this year in a meet held under the cloud of the Chinese doping case. Though WADA considers the case closed, Koehler and others point to situations like this as one of many reasons that an investigation by someone other than Cottier, who was hired by WADA, is still needed. "It gives the appearance that people are just making things up as they go along on this, and hoping the story just goes away," Koehler said. "Which clearly it has not." Be the first to know Get local news delivered to your inbox!Costco ( COST 1.05% ) has been one of the most reliable winners in the stock market over its history as a publicly-traded company. Its membership-based warehouse model of selling bulk goods at bargain prices is consistently popular with consumers, and its stock price has reached a new milestone of $1,000 per share. Following the retailer's report on November sales, which revealed comparable sales growth of 4.9% (adjusted for fuel and foreign exchange) and revenue growth of 5.6% to $21.87 billion, several Wall Street analysts raised their price targets on the stock. Jefferies expects Costco to hit $1,145 next year Among the analysts raising their price targets, Corey Tarlowe of Jefferies lifted his target from $1,050 to $1,145 and kept a buy rating on the stock, according to multiple reports. Tarlowe noted that the November results were solid even as the Black Friday weekend shifted out of the comparable month, and he sees strong momentum in the business. Can Costco keep gaining? Costco has been one of the few retailers to deliver consistent growth in recent years, a reflection of the strength of its business model and the fact it derives most of its revenue from groceries. While discretionary retailers have struggled recently as consumers moderated their spending, grocery chains have largely been able to raise prices and pass the impacts of inflation down to customers. However, Costco stock has gotten expensive, especially considering it's a brick-and-mortar retailer that tends to deliver solid but not breakout growth. It trades at a price-to-earnings ratio of 59 as of this writing. Much of that premium is owed to the company's competitive strength and its recession-proof model, as investors feel confident in the company's ability to grow and fend off any potential competition in its niche. That valuation, though, should limit Costco's share price growth from here. It's hard to make a case for further multiple expansion at this point. As such, while Costco still looks like a reasonable buy for long-term investors, they might get a better price if they're patient.SWEET treat fanatics are flocking to three discount stores to get their hands on a new selection of Baileys deserts. Both Baileys Eclairs and Baileys Indulgent Biscuits have been spotted on the shelves this Christmas. 3 Shoppers have spotted a new Baileys selection at three discount supermarkets Credit: Getty 3 Baileys have released a box of eclairs and 'indulgent' biscuit Credit: Facebook/Food Finds UK Official 3 Customers have had mixed reactions to the new chocolatey treats Credit: Facebook/Food Finds UK Official Aldi and Home Bargains have stocked up the creamy confectionaries and eagle-eyed shoppers were delighted to find them in Iceland as well. A lot of people adored the creamy-flavoured find, and were gushing in the comment section of the Iceland website. One wrote: "Wow absolutely delicious. "You can taste the Baileys in the very generous cream, will definitely buy again." Read more Money COSTLY COUNTDOWN Worst value advent calendars revealed as shoppers risk paying more BRIGHT SPARK I’ve saved £1k on my energy bills this year – I haven’t turned down my heating Another added: "Very nice, lots of Baileys in a small eclair." A third user commented: "Delicious, just the right amount of Baileys cream." However not everyone was impressed. One user posted: "Pleased I didn't pay full price for them. Most read in The Sun DARR-ARGH High winds wreak havoc as Scots warned 'do not travel' amid Storm Darragh SORE SAGA Celtic's compo talks fail over boys club scandal as new court showdown looms TOP SPOTS Unassuming Scots suburb named as one of the UK's poshest KRIS BOYD Rangers simply have to make club's Mr Reliable an offer he can't refuse "I wont be buying any for myself for Christmas and will have to decide whether I still give them as gifts or give them to the local church for Christmas raffle - maybe with a very sweet warning attached." Another complained: "Smaller than expected, and with a weird aftertaste. Watch mum reveal why she never buys brand new gifts for Christmas "They don't taste like proper Baileys, more like a cheap imitation." Despite the mixed reviews, shoppers are still keen to give the new Baileys collection a try. The Baileys Indulgent Biscuits are described as buttery but still with a hint of liqueur, and not too overpowering. As the the Baileys Milk Chocolate Creams, they consist a balance of a creamy whisky filling covered in milk chocolate. The mini eclairs have a creamy Baileys flavoured filling in a light pastry, covered with a smooth chocolate coating. These are frozen in a pack of 12 and instructions suggest defrosting them for 30 minutes before tucking in. How else can I save money on Baileys? If you're a sucker for that creamy Irish whiskey liqueur, then there are some sneaky hacks that can save you on splashing out on Baileys this festive season. If you want to save your money for presents, you can always go for a Baileys dupe, which have been described as "almost perfect." If you're prepared to let go of the litre bottle you can purchase the 70cl Ballycastle cream liqueur for £5.79 - just 82p per 100ml. Shoppers have described the product as "lush" and "gorgeous" on Facebook. The Ballycastle product also comes in various flavours, such as the newest addition, which is a luscious Milk Chocolate Clementine version for £7.49. If you fancy giving something new a try, this could save you up to a whopping £16.21 on one bottle of Baileys. For the price of one Baileys bottle from Morrisons or Asda, £22.00, you could nearly buy four bottles of the Ballycastle. Read more on the Scottish Sun FERRY WINDY Ferry stranded amid Storm Darragh as passengers stuck on ship for 12 hours HORROR BLAZE Huge fire erupts at Scots industrial estate as emergency crews race to scene However, keep in mind that the ABV of Bailey's is 16 per cent, the Ballycastle booze is 12 per cent. Other supermarkets which offer up their own Baileys dupes include Sainsbury's, Tesco, Morrison's, Asda, Lidl and M&S. How to save money on Christmas shopping Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping Limit the amount of presents - buying presents for all your family and friends can cost a bomb. Instead, why not organise a Secret Santa between your inner circles so you're not having to buy multiple presents. Plan ahead - if you've got the stamina and budget, it's worth buying your Christmas presents for the following year in the January sales. Make sure you shop around for the best deals by using price comparison sites so you're not forking out more than you should though. Buy in Boxing Day sales - some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25. Delivery may cost you a bit more, but it can be worth it if the savings are decent. Shop via outlet stores - you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts. They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor