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2025-01-24
At its core, football is a sport deeply entrenched in local communities. This may be particularly difficult to remember in this modern, globalised era of the sport. But a quick dive into the archives reminds us of the reality the beautiful game was founded on. All but two of Celtic’s 1967 European Cup-winning side were born within ten miles of Celtic Park. Johan Cruyff’s all-conquering Ajax side of the 1970s was loaded with long-haired, turtleneck-donning local heroes. A new era of the UEFA Champions League is here, only on Stan Sport. Manchester United’s treble winners famously comprised many academy graduates. More recently, Pep Guardiola’s Barcelona side of the late noughties and early 2010s, arguably football’s greatest ever side, was built atop foundations laid in La Masia, the Catalan club’s famed academy. For a while that same club, Barcelona, strayed from what they were. In many ways, they tried, unsuccessfully it should be said, to emulate fierce rivals Real Madrid’s ‘Galacticos’ approach to football. Antoine Griezmann, Philippe Coutinho, Malcolm, Arthur, Clement Llenglet, Miralem Pjanic, and more arrived for huge sums. Few, if any, provided an adequate return on investment, like a Porsche whose wheels fly off the first time it’s backed out of its owner’s driveway. More Football This strategy very famously led the club to the brink of breaking point. Stood at a cliff edge, a hundred-metre drop inches from their toes, Barcelona were as close to falling as possible without actually tumbling. A shocking reality to any, it served as yet another reminder that even the greatest empires crumble – ask the Romans. And truthfully, were it not for the persistent genius of Lionel Messi, the greatest investment in the club’s history, they may just have fallen. The diminutive Argentine who clawed Barcelona to footballing summits few have ever reached put the club he loved on his back year after year, dragging them from the cliff’s edge, away from a fate they once seemed destined for, until its weight became too unbearable for his superhuman ability. Trophies dried. Meetings were had. Financial levers were pulled. The cliff’s edge grew perilously closer. Even now the club’s not yet in the clear. Recruit Dani Olmo, returning as a man to the club he left as a boy, may not see out the season if his registration, currently hinging on Andreas Christensen’s unavailability, is not extended. There are still levels to pull, meetings to take, contracts to be re-evaluated, sponsorship agreements to seek, and a hurried return to the Camp Nou to increase revenue. These are not actions of a fiscally healthy organisation. They are undoubtedly acts so potently desperate anyone from Barcelona to Bankstown can smell it. Lamine Yamal (Photo by Pedro Salado/Getty Images) And yet on the pitch Barcelona’s squad, and new manager Hansi Flick, are holding up their end of the bargain. Without being perfect they sit atop La Liga as by far and away the division’s top scorers (48), having put four past Real Madrid, and are third in the reformed Champions League, having put four past Bayern Munich. While much has changed since Guardiola’s golden years, his side and Flick’s share one common denominator: they trust the kids. Barcelona’s 5-1 win over sixth-placed Mallorca at the start of December, their 12th of the season, saw Flick start six La Masia products: Lamine Yamal, Inaki Pena, Pau Cubarsi, Alejandro Balde, Marc Casado, and Dani Olmo. Two more – Gavi and Fermin Lopez – joined off the bench. Ansu Fati and Marc Bernal have both received game time this season but are currently sidelined with injury. Add Pedri, not a La Masia product but still just 22, and Ferran Torres (24), and the youthful portrait Flick is painting is clear for all to see. In fact, four members of the club’s squad are over 30: Marc-Andre ter Stegen, Inigo Martinez, Wojciech Szczesny, and Robert Lewandowski. At 36 the latter is old enough to be Lamal’s father, not that their on-pitch relationship would suggest that; the Pole needs the brace-faced Golden Boy as much as he needs one of modern football’s greatest goal-scorers. Of course, it isn’t solely off the back of child labour that Barcelona have returned to the mountain top. Lewandowski’s 15 goals is the most of anyone in the Spanish top flight. Raphinha is continuously staking his claim to be not only the best Brazilian in La Liga, but also the finest winger on the planet. But it should be seen as no coincidence Barcelona’s renewed footballing prosperity has coincided with increased faith in their youth. History, after all, does not repeat, but it definitely rhymes.{ "@context": "https://schema.org", "@type": "NewsArticle", "dateCreated": "2024-12-03T23:21:46+02:00", "datePublished": "2024-12-03T23:21:46+02:00", "dateModified": "2024-12-04T05:49:40+02:00", "url": "https://www.newtimes.co.rw/article/22325/news/economy/rwanda-has-successfully-met-its-imf-commitments-envoy", "headline": "Rwanda has successfully met its IMF commitments – envoy", "description": "In October 2022, the International Monetary Fund (IMF) approved $319 million for Rwanda as the first African country and the third in the world to...", "keywords": "", "inLanguage": "en", "mainEntityOfPage":{ "@type": "WebPage", "@id": "https://www.newtimes.co.rw/article/22325/news/economy/rwanda-has-successfully-met-its-imf-commitments-envoy" }, "thumbnailUrl": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65498.png", "image": { "@type": "ImageObject", "url": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65498.png" }, "articleBody": "In October 2022, the International Monetary Fund (IMF) approved $319 million for Rwanda as the first African country and the third in the world to benefit from the Resilience and Sustainability Facility (RSF). The facility was a three-year arrangement that the IMF launched to help countries tackle long-term challenges, such as climate change. As the arrangement comes to an end, The New Times’ Business Editor Julius Bizimungu spoke to Gabor Pula, Resident Representative for IMF in Rwanda to discuss lessons learnt, how the facility has enabled Rwanda to embark on reforms that will shape the economy, and how the country can strike a good balance between financing its ambitious economic agenda and managing rising debt levels. Below are the excerpts: The RSF under which the IMF approved $319 million for Rwanda in 2022 is coming to an end. What lessons have you learnt? Rwanda’s early access to the RSF was made possible by the country’s preparedness and already existing climate policies. For example, at the time of the RSF approval, Rwanda already had a comprehensive climate diagnostic, which identified priority areas for reforms that could be supported by the RSF facility. Such a detailed climate strategy ensured a head-start to RSF reform implementation. Overall, the Rwandan authorities’ performance under the RSF programme has been exceptionally strong. To demonstrate their unwavering commitment to the RSF-supported climate agenda, the authorities even accelerated the implementation of the originally agreed reform measures. As a result, Rwanda has now successfully completed all its RSF commitments, six months ahead of the initial timeline (of December 2024). Rwanda is the first and only country among our members that managed to do this, and it highlights Rwanda’s ability to accelerate reforms ahead of schedule. Close cooperation with development partners has been also key to this success. Climate investments require complex technological and financial considerations, which – due to their novelty – are challenging even in the most advanced economies of the world. Rwanda has been particularly successful in absorbing external technical expertise provided by its development partners and integrating it with home grown solutions. As a result, Rwanda has managed to develop a unique approach to catalyze climate private financing, which could serve as a blueprint for other developing countries. This unique approach combines three main components: the advanced infrastructure of Private and Public Climate Investment Facilities (Ireme and Intego) that were established already before the RSF, the transparency frameworks, such as the climate budget tagging, green taxonomy and adoption of international climate reporting standards that were developed in the context of the RSF. Finally, it includes the use of innovative climate finance instruments, which ensure affordability of climate finance for Rwandan green entrepreneurs by blending concessional resources with market-based funding. Rwanda has a climate action plan that requires $11 billion through 2030. Do the reforms being undertaken enough to enable Rwanda raise this necessary funding? Given its limited fiscal space, Rwanda needs to rely on concessional and private climate financing to implement its ambitious climate agenda. Indeed, the overall cost of implementing Rwanda’s Nationally Determined Contributions (NDCs) strategy is estimated at $11 billion, which would imply investments amounting to 7 per cent of GDP each year during the 2020-2030 period. Given Rwanda’s already elevated debt level, room for public sector borrowing is limited. Domestic efforts to mobilise revenue and improve spending efficiency will help, but they take time. This puts the focus on efforts to mobilise private climate investment. Rwanda successfully leveraged the RSF and managed to secure an extra EUR 300 million with the help of bilateral and multilateral partners, on top of the RSF’s $319 million contribution. However, this amount is still only a small portion of the total financing needed to implement Rwanda’s climate agenda. In this context, Rwanda must continue its efforts to mobilise concessional and private climate resources. The IMF has said that Rwanda needs to accelerate the development of green projects and lending operations. What are these projects and why is it important to accelerate them? The RSF-supported reform measures helped address impediments to concessional and private climate flows to Rwanda. Private climate inflows to Rwanda, similar to other low-income countries, have been constrained by low risk-adjusted returns, persisting information asymmetries, and market size disadvantage. To overcome these obstacles and establish incentives for private capital, Rwanda needs strong legal frameworks, governance and data disclosure standards guiding its climate investments. As an example, Rwanda’s new climate budget tagging system and green taxonomy will strengthen investor confidence by mitigating their concerns about greenwashing. In the next step, these newly developed taxonomies will be used to identify private and public investment projects that can strengthen the economy’s resilience to climate shocks. Rwanda is also a pioneer in this area among developing economies. Ireme Invest has started its lending operations with a total value of its green projects pipeline estimated at about $30 million over the 2024-25 period. The scaling up of the pipeline is challenging, as both the Rwanda Development Bank and businesses need time to strengthen their understanding of the technical requirements for climate investments. To address this obstacle, Ireme Invest has established a Project Preparation Facility managed by the Rwanda Green Fund (FONERWA). Rwanda’s Public Green Investment Facility (Intego) has also identified public investment projects at the total value of $34 million. A well-developed project pipeline should play a critical role in mobilising additional resources to finance Rwanda’s ambitious climate agenda. The IMF has a 3-year Policy Coordination Instrument that ends next year. The aim was to support the government to build on the progress in macroeconomic, fiscal, and financial reforms. Have any of these reforms happened? Under the Policy Coordination Instrument (PCI), the Rwandan authorities put together a medium-term reform plan for the 2022-25 period to ensure macroeconomic stability, advance fiscal consolidation, strengthen monetary policy transmission and deepen financial markets, and build socioeconomic resilience. The PCI is a non-disbursing arrangement, which means that the IMF does not provide financial support related to the programme. We support the authorities in the design of their reform plan, provide technical assistance to build institutional capacity, monitor the implementation of the reforms and report on their progress. The benefit of such a non-disbursing arrangement for the authorities is what we call the IMF’s “seal of approval” of their policies. It provides assurances for development partners and financial markets that Rwanda’s macroeconomic policies are sound. Rwanda’s performance under the PCI has been broadly strong. Key achievements under the PCI include the introduction of more efficient and transparent frameworks to manage public investments, formulation of a medium-term spending rationalisation strategy, gradual deepening of the interbank and foreign exchange market to strengthen monetary policy transmission and the launching of the dynamic social registry, which is a state-of-the-art system that will allow for better targeting of social protection benefits. In December 2023, the authorities also requested a 14-month financing arrangement under the so-called Stand-by Credit Facility (SCF) to help them preserve foreign exchange reserves, which came under pressure following an increase in the import bill, due to high food imports and the reconstruction after the devastating floods last year. As a result of the recalibration of macroeconomic policies, the $260 million total financing under the SCF, and its catalytic effect that allowed Rwanda to secure additional concessional financing mainly from the World Bank, foreign exchange reserves have now stabilised at comfortable levels. The IMF has previously indicated that Rwanda faces fiscal risks from state-owned enterprises. What are these risks and how can they be mitigated? Besides raising more revenues, fiscal consolidation can be achieved via more efficient spending. Rwanda has limited resources, and it is critical that those limited resources are not wasted and put in the most productive use possible. Enhanced transparency is key to scrutinise the use of resources, and so it is an important achievement that the Ministry of Finance started to publish the list of major public projects and their selection criteria on its website. In a similar vein, state-owned enterprises (SOEs) need to be managed efficiently. This means several considerations. First, the authorities need to revisit which SOEs are critical for the functioning of the economy, and which are the SOEs that could possibly be replaced by the private sector. Second, the corporate governance of remaining SOEs needs to be improved. Finally, it is important that any financial support provided by the budget to SOEs, in the form of direct subsidies and guaranteed loans for example, are fully accounted for. At the end of the day, the authorities will need to ensure that budget resources are not subsidising loss-making activities in SOEs. What about the forex exchange market, has Rwanda made reform progress? With regard to the exchange rate, the central bank did a good job so far in managing pressures on its FX reserves. The exchange rate was allowed to depreciate since early 2023, which was necessary to facilitate the much-needed external adjustment. Similar to most developing countries, Rwanda’s imports exceed its exports, which implies that the demand for foreign currency is larger than its supply. The trade deficit puts the exchange rate under pressure, unless it is fully financed by capital inflows, such as remittances, foreign direct investment, or concessional borrowing. Continued exchange rate flexibility will be critical to help absorb external shocks and support the current account adjustment.", "author": { "@type": "Person", "name": "Julius Bizimungu" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }25 Festive Things From Walmart That'll Make Your Home Merry And Brightsuper ace free bonus

3 US Army soldiers arrested on human smuggling charges along the border with MexicoWashington Nationals win lottery for No. 1 pick in next amateur baseball draft, Angels No. 2 DALLAS (AP) — The Washington Nationals will have the No. 1 overall pick in the amateur draft next summer after winning the lottery in a drawing of ping-pong balls at the winter meetings Tuesday. Canadian Press Dec 10, 2024 3:39 PM Dec 10, 2024 3:50 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Emcee, Baltimore Orioles outfielder Colton Cowser, holds up the the Washington Nationals logo after the organization won the overall number one pick in the draft lottery at the Major League Baseball winter meetings in Dallas, Tuesday, Dec. 10, 2024. (AP Photo/Tony Gutierrez) DALLAS (AP) — The Washington Nationals will have the No. 1 overall pick in the amateur draft next summer after winning the lottery in a drawing of ping-pong balls at the winter meetings Tuesday. Unlike last year, when the Nationals were ineligible after initially coming out with the top spot, they will get to make the first pick in July in Atlanta, the site of the All-Star Game. Washington was ineligible for a top-six pick last year because the collective bargaining agreement states a team that pays into the revenue-sharing plan cannot have a lottery selection in back-to-back years. The Nationals chose outfielder Dylan Crews with the No. 2 pick in 2023. The Los Angeles Angels have the second pick for next summer. Seattle, Colorado, St. Louis and Pittsburgh round out the top six. A weighted lottery among the 18 teams that failed to make the playoffs this season determined the order of picks for the third year in a row. The Nationals went in with a 10.2% chance, the fourth-best odds, for getting the No. 1 pick. Colorado and Miami, both 100-loss teams, had the best odds at 22.45%, ahead of the Angels at 17.96%. Miami instead ended up with the seventh pick. Seattle got the No. 3 overall pick after having a 0.53% chance to get the No. 1 pick, the second-worst odds among 16 eligible teams. The 121-loss Chicago White Sox, who had the most losses of any major league club since 1900, were not eligible for the draft lottery since they had one of the top six picks last year (No. 5) and is a team that pays into the revenue-sharing plan. The CBA also doesn’t allow teams that receive money in revenue sharing to have lottery picks three years in a row. That made the Athletics (69-93) ineligible for the lottery — they picked fourth last year after having the No. 6 selection in 2023. Chicago instead got the 10th pick, one spot ahead of Oakland — the highest possible positions for those two teams because of their recent lottery picks. ___ AP MLB: https://apnews.com/hub/MLB The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Baseball Left-hander Max Fried agrees to $218 million, 8-year contract with Yankees, AP source says Dec 10, 2024 3:25 PM Shortstop Willy Adames and San Francisco Giants finalize $182 million, 7-year contract Dec 10, 2024 3:01 PM Analysis: After Juan Soto's megadeal, could MLB see a $1 billion contract? Probably not soon Dec 10, 2024 2:35 PM

, /PRNewswire/ -- 365 Retail Markets, the global leader in unattended retail technologies, today announced the appointment of Anton Rakushkin as Chief Technology Officer and as VP of Sales for . These strategic hires come as two long-time leaders, and , retire after years of dedicated service to the company. Rakushkin comes to 365 with twenty years of experience in retail technology including time with Streamware Corporation and Crane Connectivity Solutions. He holds impressive accomplishments in the areas of vending management, including the architecture of Vendmax, an extensively used VMS system across the industry. His achievements also include innovations around data exchange and tools for operator success such as industry-first pre-kit and dynamic scheduling features. Rakushkin has had notable success working closely with both customers and other solution providers to create widely adopted industry standards. "I am excited to bring my experience to the world-class team at 365 and look forward to elevating their impressive accomplishments across the industry as well as extending that success to more opportunities. By understanding customer needs and providing solutions that will drive the industry forward, we will accomplish great things," said Rakushkin. Reidy joins 365 Retail Markets with over thirty years of experience in sales leadership and executive management. Throughout his career, he has successfully developed and grown businesses across various verticals and industries. Reidy has cultivated a deep understanding of the SaaS industry by advancing through prominent firms, including well-known players in the automotive technology space, such as KPA, Netsertive, and DealerMatch. During his time at vAuto, he designed highly effective sales and operations management processes and built a renowned national sales team. When asked about his optimism around 365's growth potential, Reidy noted, "I'm fortunate to be joining a well-established team at 365 Retail Markets, and I believe that through coaching and establishing the right processes, we can expand our opportunities immensely. I am looking forward to elevating the reach and success of this organization through the help of a world-class sales team." , CEO at 365 Retail Markets, expressed his excitement about the leadership additions. "Bringing experts like Anton and Bill onto the team is essential to keep up with the intense growth we are seeing in our unattended retail business. We have heard for years that the market is tired of the lack of investment by the legacy VMS providers and the lack of consumer-focused features from the me-too payment terminal providers. Anton and Bill will be focused on being sure 365 remains the global leader for decades to come." retires after 10 years with 365. While currently serving as Chief Strategy Officer, he has previously served as Chief Financial Officer and an early advisor and Board Member helping define nearly every successful initiative in the company's history. Joe will be missed greatly by his industry colleagues and friends at 365 but will remain in an advisory role in his retirement. decade of service to 365 comes with many accomplishments in roles as Chief Operating Officer and later as President of International, spearheading international growth. His dedication to 365 has positioned the long-term success internationally and his relationships with many in the industry has gained him immense respect among his peers and colleagues. Hessling acknowledged their contributions, stating, "I would like to thank both Joe and John for helping me turn 365 into what it is today. Taking the leap to join over 10 years ago was a risk neither had to take and their impact on 365, me, and the industry has been something that most don't ever get the chance to do in their careers. I will miss working with them both but am happy for them in their next stage of life." Both retirements are effective and 365 Retail Markets thanks both individuals for their incredible dedication and commitment to the organization and industry. VP of Marketing & Communications, 365 Retail Markets 365 Retail Markets is the global leader in unattended retail technology. Founded in 2008, 365 provides a full suite of best-in-class, self-service technologies for food service operators including end-to-end integrated SaaS software, payment processing and point of-sale hardware. Today, the company's technology solutions autonomously power food retail spaces at corporate offices, manufacturing and distribution facilities, hospitality settings and more, in order to provide compelling foodservice options for consumers. 365's technology solutions include a growing suite of frictionless smart stores, micro markets, vending, catering, and dining point-of-sale options to meet the expanding needs of its customers. 365 continuously pioneers innovation in the industry with superior technology, strategic partnerships and ultimate flexibility in customization and branding. For more information about 365 Retail Markets, visit and connect on and View original content to download multimedia: SOURCE 365 Retail Markets, LLCThis from Citi comes via a Dow Jones / Market Watch piece (may be gated ) - in brief: Citigroup forecasts modest gains for the S&P 500 with a base case of 6,500, a bull case of 6,900, and a bear case of 5,100. High trailing price-to-earnings (P/E) ratios, at their loftiest levels in 40 years, pose a risk to returns and increase volatility. Positive fundamentals, artificial intelligence advancements, and productivity gains are expected to support the market. Confidence in long-term growth remains, but "elevated and unattainable" growth expectations temper optimism. While big tech valuations are high, the remaining 493 S&P stocks also trade at their highest 20-year forward P/E levels. Citi’s Levkovich Index (formerly the panic/euphoria index) indicates a euphoric investor phase, akin to the Tech Bubble and post-pandemic rally. History suggests that starting from such high valuations often leads to lower median returns and higher downside risks.

Trump names Andrew Ferguson as head of Federal Trade Commission to replace Lina KhanGeoffrey Hinton decries tech companies chasing “short-term profits” in Nobel Prize acceptance speech

3 US Army soldiers arrested on human smuggling charges along the border with MexicoRosen Law Firm Encourages Winnebago Industries, Inc. Investors to Inquire About Securities Class Action Investigation - WGO

B.C. Premier David Eby vows to seek out new export opportunities in wake of Trump tariff plan

Expect more affordable housing units in Alberta as the province spends $150 million for new developments. “I am pleased to announce that the Alberta Affordable Housing Partnership Program is opening for the next round of applications,” said Jason Nixon, Seniors, Community and Social Services Minister, on Friday.. With National Housing Day, the Alberta government is pledging to increase its efforts to address housing affordability in the province. From the start of 2024 up until October, the province saw an estimated $38,000 houses being constructed, which is more compared to last year. “The reality is though that while Alberta is having success we recognize that there are still many struggling to find housing and to meet their needs. Which is why we know there’s more that needs to be done,” said Nixon. Alberta saw an increase in population by about 200,000 last year. One organization stated that while the funding is a start, there’s still a lot more that needs to be done. “We didn’t have a real housing crisis and the government didn’t invest in affordable and community housing over the years the same way. And now we’re here and we’re trying to meet the growing demand, so we are playing catch up,” said Irene Martion-Lindsay, the executive director of Alberta Seniors and Community Housing Association. Martin-Lindsay also says that there has been a growing demand for the adult population needing affordable homes. “This has been happening for a while and it’s really hard for them to be prioritized, but the older adults that aren’t seniors that are in that 55 to 65, they’re really struggling because of the lower-end fixed income,” said Martin-Lindsay. This is not the first time Alberta invested in affordable housing, in 2022 the government put $189 million into supporting units and shelters within 15 communities. The province opens the application for the new housing development this Friday up until January 31, 2025.Mbappe, Vinicius and Bellingham on target as Real Madrid beats Atalanta 3-2. Liverpool wins againNone

Hezbollah responds to strikes after ceasefire

The rideshare industry has just been shaken up by a new that is rapidly expanding to major cities around the country including Atlanta, Miami, Orlando, Nashville, Phoenix, and many other locations. BlackWolf, like Uber and Lyft, is a rideshare app that will take you anywhere you need to go. The kicker is this service has drivers who are armed with guns. But they aren’t just the typical Joes with firearms, the company claims that they only hire law enforcement officers, veterans, and others who have worked in the private security sector for at least four years, according to t . As for how they screen potential drivers, the founder, Kerry KingBrown, told that they perform a detailed background check, reviewing documentation from the law enforcement or military agency that the potential employee previously worked at. Founded by KingBrown in May 2023, he was inspired to start the company during a unique encounter with a female client who alleged that she had previously been a victim of sex trafficking. This happened while he was working as a private investigator. He shared in an interview with , “She was trafficked for three years and [during] the last couple of months that I had with this particular client, she told me to create a transportation system for herself and her daughter.” Initially, KingBrown only transported women and children who were victims of domestic violence or trafficking. Now, he’s made his special rideshare service to anyone who wants that extra sense of security while driving. Currently, the app has more than 300,000 users nationwide and will be expanding to some of the biggest cities in Texas such as Austin, Houston, and Dallas by the end of 2025 according to . But how have they been able to get so many users after only a year? KingBrown gives all the credit to social media, specifically TikTok, telling Houston Public Radio, “TikTok has given us a boost of a lifetime. When we started in May [2023] we probably had a thousand followers. By the time we got to December, we were well over 200,000. ... The biggest thing is the concept we’ve created. It’s the realness in every video we put out. We think like how the people think because we’re a people-driven business.”The S&P 500 rose 0.2% from its all-time high set on Friday to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Super Micro Computer, a stock that's been on an AI-driven roller coaster, soared 28.7% to lead the market. Following allegations of misconduct and the resignation of its public auditor, the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company's board. It also said that it doesn't expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 3.2% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 0.5% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger's replacement, and its chair said it's "committed to restoring investor confidence." Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street's frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO's departure. Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world's fourth-largest automaker's stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 5% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what's expected to be the best Cyber Monday on record and coming off Black Friday. Target, which recently gave a forecast for the holiday season that left investors discouraged, fell 1.2%. Walmart, which gave a more optimistic forecast, rose 0.2%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.4%. All told, the S&P 500 added 14.77 points to 6,047.15. The Dow fell 128.65 to 44,782.00, and the Nasdaq composite climbed 185.78 to 19,403.95. The stock market largely took Donald Trump's latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won't create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar's value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government's budget. The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday's headliner report to show U.S. employers accelerated their hiring in November, coming off October's lackluster growth that was hampered by damaging hurricanes and strikes. "We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts," according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump's inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai.AP Sports SummaryBrief at 6:38 p.m. EST

SANTA CLARA, Calif. (AP) — De'Vondre Campbell's decision to quit on his team in the middle of a game overshadowed the bigger issues for the San Francisco 49ers. An offense that was one of the most dynamic in the NFL during a run to the Super Bowl last season has been just ordinary for most of 2024 and was downright bad in a 12-6 loss to the Los Angeles Rams on Thursday night that just about ended San Francisco's playoff hopes. San Francisco (6-8) was held to its fewest yards (191) in a regular-season game in eight seasons under coach Kyle Shanahan and its fewest points since Shanahan's debut in 2017 on a rainy night that will be remembered mostly for Campbell walking off the field in the middle of the game with a towel draped over his head. The game also featured San Francisco going three-and-out on four drives as Brock Purdy struggled to connect with his receivers. Deebo Samuel dropped a potential touchdown pass after complaining earlier in the week about a lack of touches. Purdy then missed Ricky Pearsall on an underthrown deep shot in the fourth quarter before throwing an interception into the end zone that ended the Niners' comeback attempt. “I just feel like I had a lot of plays left out there that I could have made for our team,” Purdy said. “I thought the defense and special teams played so good. That’s what’s hurting me is I just feel like I failed the team. I could have been better for our offense and we could have put up more points.” Scoring has been an issue this season for the 49ers, who have been missing key playmakers like Christian McCaffrey and Brandon Aiyuk for much of the season. San Francisco is scoring 8.5 fewer points per game on offense than the Niners did through 14 games last season. What’s working Red-zone defense. After allowing touchdowns on 13 consecutive red-zone drives over the previous four games, the 49ers kept the Rams out of the end zone on all three drives that went inside the 20. What needs help Receivers. The 49ers failed to get much production from their wide receivers with Purdy going 6 for 20 for 63 yards with an INT and a 19.4 rating when targeting wideouts. Samuel had 16 yards on seven targets with the key drop. Jauan Jennings had two drops and was the target on the interception. Pearsall had one catch for 16 yards on four targets. Stock up LB Dre Greenlaw returned for the first time since tearing his left Achilles tendon in last season's Super Bowl. Greenlaw had eight tackles in the first half as he brought needed intensity and physical play that had been missing for much of the season. Stock down Campbell. The 49ers are deciding whether to waive or suspend Campbell, who lost his starting job when Greenlaw returned and then refused to play when he was needed. “His actions from the game just is not something you can do to your team or your teammates and still expect to be a part of our team,” Shanahan said. “We’re working through exactly the semantics of it right now, but we’ll handle the situation appropriately.” Injuries Greenlaw came out of the game feeling OK after leaving with soreness in his knee and Achilles tendon. He is day to day. ... S Ji’Ayir Brown (groin) and LB Dee Winters (neck) are also day to day. ... LT Trent Williams (ankle) is still trying to get back to play after missing the last four games. Shanahan said Williams' recovery has been "a lot slower than anticipated.” Key number 0 — The Niners didn't reach the red zone once all game, with their deepest penetration into Rams territory being when they reached the 27 on a third-quarter field goal drive. This marked the first time since Week 11 in 2010 that the 49ers didn't run a single play inside the opponent's 25. What’s next The 49ers visit Miami on Dec. 22. AP NFL: https://apnews.com/hub/NFL

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