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Avalanche & Predators Trade Exchanges Two Young ForwardsSAN DIEGO , Nov. 21, 2024 /PRNewswire/ -- CV Sciences, Inc. (OTCQB: CVSI ) (the "Company", "CV Sciences", "our", "us" or "we"), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today announced that it has entered into a definitive agreement (the "Purchase Agreement") to acquire Extract Labs, Inc. ("Extract Labs"), a leading manufacturer and distributor of premium cannabinoid products including gummies, topicals and tinctures. Extract Labs branded products are sold through a range of sales channels from B2B to B2C. Extract Labs has operational flexibility allowing low to large minimum order quantity ("MOQ") production runs, allowing for efficient use of capital and the ability to increase speed to market for new product development. Extract Labs is GMP-certified and FDA-registered. The acquisition is expected to create the opportunity to increase our sales to current and new clients. In addition, we intend to in-source production of certain of our key products. "We are thrilled that Extract Labs and its employees are joining CV Sciences as another milestone in our transition to a thriving health and wellness company. The acquisition synergies are expected to increase our revenue and customer base, allow us to leverage our key assets, optimize operations and processes, and drive long-term growth and shareholder value. Extract Labs is a stand-alone profitable business and our plan is to increase its existing revenue base and further leverage its existing capacity," said Joseph Dowling, Chief Executive Officer of CV Sciences. "In addition, we are planning to in-source the manufacturing of select +PlusCBDTM branded products providing an opportunity for meaningful cost savings. Extract Labs manufacturing capability will provide us with greater control over our supply chain and accelerate our new product development cycle." The total consideration for the acquisition of Extract Labs payable at closing, consists of (i) a cash payment of $400,000 (the "Closing Payment"), less the amount of certain holdbacks and adjustments, and (ii) the issuance of shares of CV Sciences' common stock valued at $1,000,000 based on the sixty day volume weighted average price ("VWAP") of CV Sciences' common stock. In addition to the consideration payable at closing, and as further consideration for the acquisition, the Extract Labs sellers will be eligible to receive up to $600,000 of additional shares of CV Sciences' common stock if Extract Labs satisfies certain revenue targets during the two 12-month periods following the closing date. Such shares will be issued based on the thirty day VWAP of CV Sciences' common stock as of the end of each such 12-month period and will be calculated as follows: If Extract Labs' Net Revenue is at least $4,600,000 in the relevant calculation period, then the Extract Labs Earnout Amount for such period will be $300,000 . If Extract Labs' Net Revenue is at least $4,300,000 but less than $4,600,000 in the relevant calculation period, then the Extract Labs Earnout Amount for such period will be $200,000 . If Extract Labs' Net Revenue is at least $4,000,000 but less than $4,300,000 in the relevant calculation period, then the Extract Labs Earnout Amount for such period will be $100,000 . If Extract Labs' Net Revenue is at least $3,500,000 but less than $4,000,000 in the relevant calculation period, then the Extract Labs Earnout Amount for such period will be $50,000 . If Extract Labs' Net Revenue is less than $3,500,000 in the relevant calculation period, then the Extract Labs Earnout Amount for such period will be $0 . The acquisition is expected to close during the first quarter of 2025. Closing of the transaction is subject to customary conditions precedent. On November 21, 2024 , CV Sciences, Inc. filed a Current Report on Form 8-K which includes a description of the material terms of the transaction. Investors are encouraged to read such filing in its entirety. About CV Sciences, Inc. CV Sciences, Inc. (OTCQB: CVSI ) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBDTM branded products are sold at select retail locations throughout the U.S. and are the top-selling brands of hemp extracts in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, +PlusCBDTM product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. +PlusCBDTM was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company's Cultured FoodsTM brand provides a variety of 100% plant-based food products. Committed to crafting nutritious and flavorful alternatives, Cultured FoodsTM caters to individuals seeking vegan, gluten-free, or flexitarian options for a wholesome and satisfying culinary experience. In addition, the Company owns Elevated Softgels, a manufacturer of encapsulated softgels and tinctures for the supplement and nutrition industry. CV Sciences, Inc. has primary offices and facilities in San Diego, California , Grand Junction, Colorado , and Warsaw, Poland . The Company also operates a drug development program focused on developing and commercializing CBD-based novel therapeutics. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com . Forward Looking Statements This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risk and uncertainties. CV Sciences does not undertake any obligation to publicly update any forward-looking statements, except as required by applicable law. As a result, investors should not place undue reliance on such forward-looking statements. Contact Information [email protected] SOURCE CV Sciences, Inc.
NoneChina advances foreign trade with higher-quality products exported and more imports from LDCs
KUWAIT CITY, Dec 28: Starting Sunday, the suspension of bank accounts for individuals whose Kuwaiti nationality was revoked under Article 8 of the Kuwaiti Nationality Law will take effect, as announced by the First Deputy Prime Minister, Minister of Defense, and Minister of Interior, Sheikh Fahd Al-Yousef. In response to a query about individuals who have adjusted their legal status by reclaiming their original nationality and obtaining a passport from their home country, a relevant source clarified that such individuals cannot retain their Kuwaiti passport. The source further explained that while they are entitled to a ten-year renewable residency in Kuwait, along with their previous privileges, they cannot simultaneously hold both a Kuwaiti passport and their original country's passport. During an open meeting with newspaper editors and leaders of non-profit organizations last Wednesday, Sheikh Fahd Al-Yousef stated that individuals whose citizenship was revoked under Article 8 would retain most of their previous benefits, including receiving a special blue Kuwaiti passport (without citizenship status) and a civil card similar to the blue Kuwaiti card. Meanwhile, the Women’s Social and Cultural Association announced the cancellation of its planned discussion session titled "The Legal and Social Repercussions of Withdrawing Citizenship under Article 8 of the Nationality Law." The session, which was scheduled for Sunday, was canceled based on instructions from the relevant authorities. This development marks the latest chapter in the ongoing implementation of policies under Article 8, which has sparked widespread discussion about its legal and social implications.Glasgow comedian Elaine C Smith attends memorial for former First Minister Alex Salmond
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Cracks seen in MAGA coalitionThe request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by January 19 while the government emphasised its position that the statute is needed to eliminate a national security risk. “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the court consider staying the Act’s deadline for divestment of January 19 2025, while it considers the merits of this case,” said Mr Trump’s amicus brief, which supported neither party in the case. The filings come ahead of oral arguments scheduled for January 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. Earlier this month, a panel of three federal judges on the US Court of Appeals for the District of Columbia Circuit unanimously upheld the statute, leading TikTok to appeal to the Supreme Court. The brief from Mr Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office”.Narin An leads with a 64 in the wind as Nelly Korda struggles in LPGA finale
For many people, celebrating New Year’s Day can include reflecting on a life well lived or a chance to start anew. But for some, the holiday may have dark undertones, according to a recent large study . More than 700,000 deaths by suicide were reported globally in 2019, accounting for roughly 1.3 per cent of deaths that year, according to the World Health Organization. The study authors, consequently, wanted to better understand how the risk for suicide may vary depending on the day of the week or holidays. Multiple studies have assessed these relationships in the past, but findings were mixed or limited in geographical scope, the authors said — so they analyzed more than 1.7 million suicides in 740 locations in 26 countries that occurred from 1971 to 2019. “We found that Mondays and New Year’s Day were associated with a higher risk of suicide in most countries,” said Dr. Yoonhee Kim, lead author of the study published Oct. 23 in the journal The BMJ, in a news release . Mondays accounted for about 15 per cent to 18 per cent of suicides, the report found. “However, the risk on Christmas was generally less pronounced and varied across regions,” he added. “Other national holidays, aside from New Year’s Day and Christmas, were generally linked to a lower risk of suicide,” said Kim, an associate professor of global environmental health at the University of Tokyo, but that wasn’t the case for Central and South American countries. Additionally, men had a more pronounced risk of suicide on New Year’s Day. Overall suicide rates were highest in South Korea, Japan, South Africa and Estonia, and lowest in the Philippines, Brazil, Mexico and Paraguay, the authors found. On weekends, suicide risk was lowest in many countries in North America, Asia and Europe, but highest in Finland, South Africa, and Central and South American countries. Experts not involved in the research said although the study does add to important conversations about suicide prevention, the findings point to just a couple of many factors that form the large web of what contributes to suicide risk. Below, experts contextualize the findings and share how you can cope or support someone else. Potential links between holidays and suicide The holidays can bring up several ideas about what one’s life should look like as well as increased stress, substance use and painful memories, said Dr. Jill Harkavy-Friedman, senior vice-president of research at the American Foundation for Suicide Prevention, who wasn’t involved in the study. Any increases on New Year’s Day and Mondays may also be due to the “broken-promise effect theory,” the authors wrote, which posits that people may postpone suicide attempts until after the holidays, then “be prone to suicidal reactions when they encounter a sense of hopelessness from a new cycle.” However, the study has several shortcomings and caveats, limiting how universal or practical the conclusions are, some experts said. For one, the research combines multiple holidays and data sources, but these sources aren’t all equal, Harkavy-Friedman said — some countries have 20 to 40 years’ worth of data, while the findings for the United States, for example, are based on data from 2001 to 2006. That disparity is because, due to privacy concerns, the US National Centre for Health Statistics has discontinued providing the date of death on its public mortality documents since the 2010s, according to the study. Secondly, the researchers focused on relative risk of suicide by, for instance, looking at New Year’s Day relative to the two days before and the three days after the holiday, Harkavy-Friedman said. That risk analysis is not as reliable or significant in size as absolute risk, she added, which would be based on a review of daily suicides throughout the whole year, and therefore paint a truer, more comprehensive picture. The study also lacks sufficient data for rural areas, which are known to have higher rates of reported suicides, the authors said. “While it’s important to look at national rates and to have a national strategy for suicide prevention, when you’re looking at actually preventing suicide, you have to look at the smaller units of the communities, because different communities need different things,” Harkavy-Friedman said. The results may also reflect the known tendency for many people to feel generally less upbeat during the winter months due to seasonal affective disorder, said Dr. Dan Romer, psychologist and research director of the Annenberg Public Policy Centre at the University of Pennsylvania, via email. Romer wasn’t involved in the study. Knowing these details about New Year’s Day and Mondays may be more helpful for public health officials — especially those working helplines — than for individuals in need of care or those wanting to help them, said Dr. Ken Duckworth, chief medical officer of the National Alliance on Mental Illness and author of “ You Are Not Alone : The NAMI Guide to Navigating Mental Health — With Advice From Experts and Wisdom From Real People and Families.” Duckworth wasn’t involved in the research. How to cope or support someone else If you’re feeling suicidal this holiday season, you may have a mental health condition that needs self-care and professional help, Harkavy-Friedman said. Social support is important, especially for combating loneliness, but avoid spending time with people who make you feel worse, she recommended. Also ensure you get enough sleep, hydrate, feed yourself nutritious food, refrain from substance use and keep your body moving. Having a religious faith, spirituality or strong sense of purpose in life can provide hope and resilience, said Dr. Urszula Klich, an Atlanta-based health psychologist and president of the Southeast Biofeedback and Clinical Neuroscience Association. Klich wasn’t involved in the study. “If you’re worried about someone, take action,” Harkavy-Friedman said. “Don’t wait for things like holidays or birthdays or special occasions — check in right away. ... It’s really about learning suicide risk factors, warning signs and finding out ... how they’re doing and if there are any changes in their thoughts and feelings around the holidays.” Some of those risk factors and signs include the following: However, not every person considering suicide exhibits these signs. “Talking openly about suicide does not plant the idea,” Klich said. “Instead, it opens the door to a conversation that can prevent a tragedy.”
Australia’s sharemarket is likely to open lower after a sell-off in the world’s largest technology companies hit US stocks in the final stretch of a stellar year. Futures are pointing to a drop of 0.35 per cent, or 29 points, on Monday morning across the local bourse, to 8228, as traders take stock of a pullback in the US last week. Nasdaq, one of the “Magnificent Seven” companies, bore the brunt of last week’s selling. Credit: Bloomberg In the US, during a session of slim trading volume – which tends to amplify moves – the S&P 500 lost 1.1 per cent and the Nasdaq 100 slipped 1.4 per cent. While every major industry succumbed to Friday’s slide, tech megacaps bore the brunt of the selling. That’s after a torrid surge in which the group of companies dubbed the “Magnificent Seven” accounted for more than half of the US equity benchmark’s gains in 2024. “I think Santa has already come. Have you seen the performance this year?” said Kenny Polcari from financial advising firm SlateStone Wealth. “[This] week is another holiday-shortened week, volumes will be light, moves will be exaggerated. Don’t make any major investing decisions this week.” Steve Sosnick, from Interactive Brokers said while the market was in holiday season, he had fielded more inquiries than expected. “The best I can figure out is that there are large accounts, pension funds and the like, who need to rebalance their holdings before year-end,” he said. The S&P 500 and the Nasdaq 100 trimmed last week’s gains. The Dow Jones Industrial Average slipped 0.8 per cent on Friday. A gauge of the “Magnificent Seven” sank 2 per cent, led by losses in Tesla and Nvidia. The Russell 2000 index of small caps dropped 1.6 per cent. The yield on 10-year Treasuries rose 4 basis points to 4.62 per cent. The Bloomberg Dollar Spot Index wavered. Funds tied to several of the major themes that have driven markets and fund flows over the past three years stumbled during the week ending Christmas Day, according to data compiled by EPFR. Redemptions from cryptocurrency funds hit a record high while technology sector funds extended their longest outflow streak since the first week of 2023, the firm said. This year’s rally in US equities has driven the expectations for stocks so high that it may turn out to be the biggest hurdle for further gains in the new year. And the bar is even higher for tech stocks, given their massive surge in 2024. A Bloomberg Intelligence analysis recently found that analysts estimate a nearly 30 per cent earnings growth for the sector next year, but tech’s market-cap share of the S&P 500 index implies closer to 40 per cent growth expectations may be embedded in the stocks. “The market’s largest companies and other related technology darlings are still being awarded significant premiums,” said Jason Pride and Michael Reynolds at Glenmede. “Excessive valuations leave room for downside if earnings fail to meet expectations. Market concentration should reward efforts to regularly diversify portfolios.” Bloomberg The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon .
State, national officials remember Jimmy CarterSyria Rebels Exploit Hezbollah Absence To Launch Surprise Offensive
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Niagara earns 88-69 win against Le MoyneLEWISTON, N.Y. (AP) — Jaeden Marshall scored 21 points as Niagara beat Le Moyne 88-69 on Sunday. Read this article for free: Already have an account? To continue reading, please subscribe: * LEWISTON, N.Y. (AP) — Jaeden Marshall scored 21 points as Niagara beat Le Moyne 88-69 on Sunday. Read unlimited articles for free today: Already have an account? LEWISTON, N.Y. (AP) — Jaeden Marshall scored 21 points as Niagara beat Le Moyne 88-69 on Sunday. Marshall shot 5 for 8 (4 for 6 from 3-point range) and 7 of 8 from the free-throw line for the Purple Eagles (6-7). Justice Smith added 15 points while going 6 of 12 from the floor, including 1 for 3 from 3-point range, and 2 for 3 from the line and had five rebounds. Zion Russell shot 4 for 7, including 3 for 3 from beyond the arc to finish with 11 points. AJ Dancier finished with 17 points and four steals for the Dolphins (5-10). Le Moyne also got 11 points and 10 rebounds from Ocypher Owens. Dwayne Koroma had nine points and six rebounds. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar. Advertisement
State, national officials remember Jimmy Carter
Moderate to heavy snowfall was recorded across Kashmir from Friday, including the season's first snowfall in Srinagar city and other plain areas. SRINAGAR: The Kashmir Valley received the season's heaviest snowfall on Saturday which threw normal life out of gear, affecting air, rail and road traffic as well as disrupting power and water supply, officials said. Chief minister Omar Abdullah reviewed the snow clearance operations in a video conference meeting with all deputy commissioners. Moderate to heavy snowfall was recorded across Kashmir from Friday, including the season's first snowfall in Srinagar city and other plain areas. In South Kashmir, heavy to very heavy snowfall was recorded in the plains, while central Kashmir's plains received moderate snowfall. The plains of North Kashmir received light to moderate snowfall, officials said. The upper areas of the South Kashmir district received over two feet of snow, they added. Though the snowfall was welcomed by locals and tourists, it threw daily life out of gear. The Jammu-Srinagar National Highway (NH-44) was closed for traffic due to snow, according to Traffic Department officials. They added that clearance work was hampered due to heavy snowfall at the Navyug Tunnel. Men and machinery are on the job, and commuters are advised to avoid travel until the weather improves and the road is cleared, the officials said. Train services on the Banihal-Baramulla section were suspended due to heavy snow accumulation on the tracks, railway officials said. Efforts to clear the track are underway, they added. Air traffic to and from Srinagar was also affected, with flight operations suspended, according to airport officials. "Due to bad weather conditions, all flights at Srinagar Airport have been cancelled. No flight operations have taken place at the airport since the morning due to inclement weather," officials said. Passengers are advised to contact their airlines for updates. Flight operations have been affected since Friday evening. The authorities launched snow clearance operations at district headquarters and while most of the main roads and roads to hospitals were cleared by morning itself, interior roads were cleared by noon, the officials said. Abdullah directed the deputy commissioners to personally supervise snow clearance operations, emphasizing the need to obtain photographic evidence of cleared areas to ensure thorough removal and prevent roads from freezing as temperatures drop. District administrations were instructed to provide two-hourly updates to the CM's office and the chief secretary's office. The Chief Engineer of Public Health Engineering (PHE) Department informed the meeting that 90 per cent of the water supply across the valley had been restored, with efforts underway to address the remaining 10 per cent, officials said. The Divisional Commissioner of Jammu reported that power and water supplies in Jammu districts remained unaffected, while the chief secretary confirmed steady progress in restoring electricity feeders and assured that district hospitals were functioning smoothly. The chief minister stressed the importance of ensuring 100 per cent attendance of doctors and paramedical staff at all district and sub-district hospitals to effectively manage emergencies. Special instructions were issued to the deputy commissioner of Budgam to coordinate with airport authorities to assist stranded tourists and provide transportation if required, officials said. The Divisional Commissioner of Kashmir assured that sufficient stocks of essential commodities, including food and other civil supplies, were available in all districts. Taking to X, Abdullah said most of the dysfunctional power feeders in the valley had been restored. "Out of forty-one 33KV feeders dysfunctional in Kashmir due to heavy snowfall, thirty-seven have been restored and charged. Similarly, out of 739 dysfunctional 11KV feeders, 639 have been restored and recharged, bringing major relief to the valley," Abdullah said. He said the majority of the remaining feeders were expected to be restored by the evening. Abdullah also toured several areas of Srinagar city and visited his assembly constituency, Ganderbal, to take stock of the situation, officials said. He made an unannounced visit to District Hospital Ganderbal and assessed the services available to patients during the inclement weather and reviewed the availability of essential medicines, staff on duty, and the functionality of the central heating system. Abdullah interacted with the hospital staff, as well as patients and their attendants. Speaking to reporters in Ganderbal, Abdullah said he wanted to visit his constituency to ensure that people did not face too many hardships due to the snow. "I wanted to see that the snow clearance operations on roads are sped up, take stock of hospital and essential services, and the restoration of electricity wherever the lines were snapped," he said. Meanwhile, minimum temperatures went up by several notches across the valley, the MeT Department said. Srinagar recorded a low of minus 1 degree Celsius on Friday night, more than six degrees up from the previous night's low of minus 7.3 degrees Celsius, it said. Gulmarg, a town known for skiing activities in North Kashmir, recorded a low of minus 5 degrees Celsius, while Pahalgam, the base camp for the annual Amarnath Yatra in South Kashmir, registered a minimum temperature of minus 2.8 degrees Celsius. Kashmir is currently under the grip of the 40-day 'Chillai-Kalan' -- considered the harshest period of winter -- which began on December 21. Stay informed on all the latest news , real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.NEW YORK (AP) — Top-ranked chess player Magnus Carlsen is headed back to the World Blitz Championship on Monday after its governing body agreed to loosen a dress code that got him fined and denied a late-round game in another tournament for refusing to change out of jeans . Lamenting the contretemps, International Chess Federation President Arkady Dvorkovich said in a statement Sunday that he'd let World Blitz Championship tournament officials consider allowing “appropriate jeans” with a jacket, and other “elegant minor deviations” from the dress code. He said Carlsen's stand — which culminated in his quitting the tournament Friday — highlighted a need for more discussion “to ensure that our rules and their application reflect the evolving nature of chess as a global and accessible sport.” Carlsen, meanwhile, said in a video posted Sunday on social media that he would play — and wear jeans — in the World Blitz Championship when it begins Monday. “I think the situation was badly mishandled on their side,” the 34-year-old Norwegian grandmaster said. But he added that he loves playing blitz — a fast-paced form of chess — and wanted fans to be able to watch, and that he was encouraged by his discussions with the federation after Friday's showdown. “I think we sort of all want the same thing,” he suggested in the video on his Take Take Take chess app’s YouTube channel. “We want the players to be comfortable, sure, but also relatively presentable.” The events began when Carlsen wore jeans and a sportcoat Friday to the Rapid World Championship, which is separate from but held in conjunction with the blitz event. The chess federation said Friday that longstanding rules prohibit jeans at those tournaments, and players are lodged nearby to make sartorial switch-ups easy if needed. An official fined Carlsen $200 and asked him to change pants, but he refused and wasn't paired for a ninth-round game, the federation said at the time. The organization noted that another grandmaster, Ian Nepomniachtchi, was fined earlier in the day for wearing sports shoes, changed and continued to play. Carlsen has said that he offered to wear something else the next day, but officials were unyielding. He said “it became a bit of a matter of principle,” so he quit the rapid and blitz championships. In the video posted Sunday, he questioned whether he had indeed broken a rule and said changing clothes would have needlessly interrupted his concentration between games. He called the punishment “unbelievably harsh.” “Of course, I could have changed. Obviously, I didn’t want to,” he said, and “I stand by that.”Mumbai: The Reserve Bank of India (RBI) will test the waters for the central bank digital currency (CBDC) with its own officials. The central bank recently decided to credit a slice of allowances that it reimburses to CBDC wallets of RBI officers. Perceived as a move by central banks to offer a safer and smarter payment option, as well as counter cryptocurrencies, CBDC is digital form of fiat currency — a sovereign paper currency issued digitally by a country’s monetary authority. ET Year-end Special Reads Take That: The gamechanger weapon's India acquired in 2024 10 big-bang policy moves Modi government made in 2024 How governments tried to rein in the social media beast According to an internal communique to senior officials dated December 27, “As a part of scaling up of CBDC retail pilot and to encourage the use of CBDC wallet by the officers of the bank (RBI), it has been decided to credit the reimbursement amount towards internet/data charges to the CBDC wallets of officers...” A user manual for updating the CBDC wallets has been circulated. RBI launched the pilot for retail digital- or e Rs in December 2022. Unlike conventional deposits, CBDC is the liability of the central bank. When an account holder converts some money in a savings account into CBDC, the bank’s deposit diminishes by that amount. Additionally, CBDC fetches no interest returns (like normal bank deposits) to the owner of the digital wallet. As a result, neither the lenders nor customers have been particularly interested in CBDC till now. 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Besides, with the wide adoption of UPI and use of mobile phones for shopping and fund transfers, CBDC never quite captured retail users’ imagination. Nonetheless, government as well as senior Reserve Bank officials have come out with statements from time to time to stoke up interest in CBDC, which most admit could make cross-border fund transfers quicker and cheaper, if the technical and macro-implications can be addressed. Against this backdrop, the RBI is taking baby steps to popularise CBDC with its latest move. It is unclear whether more reimbursements could be credited to CBDC wallets in future if the present decision goes down well among employees. The move comes a fortnight after the change of guard at the regulator. “Users would not mind if they can freely use UPI and payment modes like Gpay to make payments from CBDC wallets, or convert unspent digital rupee in wallets back into savings accounts,” said a banker. “However, it would be at the back of their minds that there would be no interest on the wallet amounts. Plus, most banks would not actively encourage depositors to open CBDC wallets.” The CBDC wallets are linked to user accounts with banks, which would only act as aggregators. Amid the interest and discussions on CBDC, monetary authorities and bodies like the International Monetary Fund have pointed out the possible repercussions of such a digital currency — that is not part of bank deposits but represents a direct claim on central banks. Some observations made are as follows: CBDC could trigger flight to safety from retail bank deposits in periods of market stress. Volatility in CBDC demand could affect central banks’ ability to forecast liquidity. While CBDC could dramatically increase speed and cut cost in cross-border flows, it could cause volatile capital flows and faster transmission of financial shock across markets. The advent of CBDC in a big way would require central banks to fine tune their monetary policy operations. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )The Pittsburgh Steelers took a flyer on quarterback Russell Wilson after the Denver Broncos cut him in the offseason. It was a smart move, as Denver had to pay most of his salary. The Steelers could see what the former Super Bowl-winning quarterback had in the tank and make a decision next offseason. Wilson missed the first quarter of the season with a calf injury, but since he became the starter, the team has done a lot of winning. They are currently on a three-game losing streak, which has led many to question whether the team should re-sign the veteran quarterback. A recent report revealed the team will try and bring him back next season. Pittsburgh Steelers Want Russell Wilson Back On Thursday’s episode of “Get Up” on ESPN, NFL insider Adam Schefter revealed that the Pittsburgh Steelers have been happy with Russell Wilson’s play this year. They have indicated they plan to make a run at re-signing him. “They’d like to go ahead and keep Russell Wilson and re-sign him to keep him in Pittsburgh,” Schefter said. Given the age of Wilson, the Steelers would likely look to lock him down for two to three years on a team-friendly deal. This would give them the flexibility to spend money elsewhere on the roster. In ten games this season, Russell Wilson has thrown for 2,334 yards, 15 touchdowns, and five interceptions. He has added another two rushing touchdowns. There are definitely criticisms. The Pittsburgh Steelers are a middle-of-the-pack team in terms of scoring, only averaging 22.7 points per game. While the defense tends to carry the team, there are times when the offense needs to be more explosive. Wilson hasn’t been able to get things going, especially against the elite teams. Limited Options Schefter made it clear there is more behind the Pittsburgh Steelers wanting to bring Russell Wilson back than just his play. If they do not bring him back, there are not many better options. “Who’s gonna be out there that’s an upgrade over Russell Wilson right now? There are two logical first-round quarterbacks in the draft, they’re not gonna get either one of those. The top free-agent quarterbacks are gonna be Sam Darnold and Russell Wilson. Is there another quarterback in the trade market that’s all of a sudden gonna spring-free? Probably not. So, this is where the Steelers are.” Good quarterbacks aren’t usually readily available. The Steelers could take their chances in the 2025 NFL Draft, but that isn’t a sure thing. (They would know. See the 2022 NFL Draft when the team took quarterback Kenny Pickett). While the recent struggles are concerning, the team is 10-6 and has already clinched a playoff spot. With another full offseason of practice, Wilson could look better in the offense next year. Final Thoughts It would not shock me if the Steelers took a quarterback in the draft this April. Even if they don’t plan on starting him immediately, it would be good to start planning for the future. All indications are that Wilson will be back next year, assuming the two sides can come to a deal. However, if things go south in the playoffs or during contract talks, the Steelers could find themselves in an awkward position going into 2025. This article first appeared on Total Apex Sports and was syndicated with permission.
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