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MONTEVIDEO, Uruguay — Uruguayans will return to the polls on Sunday for a second round of voting to choose their next president, with the conservative governing party and the left-leaning coalition locked in a close runoff after failing to win an outright majority in last month's vote. The election has turned into a hard-fought race between Álvaro Delgado, the incumbent party's candidate, and Yamandú Orsi from the Broad Front, a coalition of leftist and center-left parties that governed for 15 years until the 2019 victory of center-right President Luis Lacalle Pou. It oversaw the legalization of abortion, same-sex marriage and the sale of marijuana in the small South American nation. Orsi's Broad Front took 44% of the vote while Delgado's National Party won just 27% in the first round of voting Oct. 27. But the other conservative parties that make up the government coalition — in particular, the Colorado Party — notched 20% of the vote collectively, enough to give Delgado an edge over his challenger this time around. Congress ended up evenly split in the October vote. Most polls have shown a virtual tie between Delgado and Orsi, with nearly 10% of Uruguayan voters undecided even at this late stage. Analysts say the candidates' lackluster campaigns and broad consensus on key issues have helped generate extraordinary voter indecision and apathy in an election dominated by discussions about taxes and social spending but largely free of the anti-establishment rage that has vaulted populist outsiders to power elsewhere. Get the latest breaking news as it happens. By clicking Sign up, you agree to our privacy policy . “The question of whether Frente Amplio (the Broad Front) raises taxes is not an existential question, unlike what we saw in the U.S. with Trump and Kamala framing each other as threats to democracy," said Nicolás Saldías, a Latin America and Caribbean senior analyst for the London-based Economist Intelligence Unit. “That doesn't exist in Uruguay.” Both candidates are also appealing to voter angst over a surge in violent crime that has shaken a nation long regarded as one of the region’s most safe and stable. Supporters of Broad Front coalition presidential candidate Yamandu Orsi campaign one day ahead of the presidential run-off election, in Montevideo, Uruguay, Saturday, Nov. 23, 2024. Credit: AP/Natacha Pisarenko Delgado, 55, a rural veterinarian with a long career in the National Party, campaigned on a vow to continue the legacy of current President Lacalle Pou — in some ways making the election into a referendum on his leadership. He campaigned under the slogan “re-elect a good government." While a string of corruption scandals briefly tainted Lacalle Pou's government last year, the president — who constitutionally cannot run for a second consecutive term — now enjoys high approval ratings and a strong economy expected to grow 3.2% this year, according to the International Monetary Fund. Delgado served most recently as Secretary of the Presidency for Lacalle Pou and promises to press on with his predecessor's pro-business, market-friendly policies. His coalition would likely continue pursuing a prospective trade deal with China that has raised hackles in Mercosur, an alliance of South American countries that promotes regional commerce. Orsi, 57, a former history teacher and two-time mayor from a working-class background, is widely seen as an heir to iconic former President José “Pepe” Mujica, a former Marxist guerilla who boosted Uruguay's profile as one of the region's most socially liberal and environmentally sustainable nations during his 2010-2015 term. Frente Amplio presidential candidate Yamandu Orsi holds his closing rally ahead of the presidential run-off election in Las Piedras, Uruguay, Wednesday, Nov. 20, 2024. Credit: AP/Matilde Campodonico “He was born from ordinary workers," Mujica said in a closing campaign ad for Orsi. “He represents, precisely, the average type of what Uruguay is.” Promising to forge a “new left” in Uruguay, Orsi has proposed tax incentives to lure investment and industrial policy to boost Uruguay’s critical agricultural sector. He has also floated social security reforms that would buck the demographic trend in lowering the retirement age but fall short of a radical overhaul sought by Uruguay's unions. The contentious plebiscite on whether to boost pension payouts failed to pass in October, with Uruguayans rejecting generous pensions in favor of fiscal constraint. “This is a normal election, which is rare,” said Saldías. “It's indicative of Uruguay’s strength as a democracy.”jlbet1 。

TikTok makes teenagers happy, says researcher

Airbnb ( ABNB 3.06% ) has become so popular that the company's name is often used as a verb when people are looking to travel and book their accommodations. Shares have recently been a disappointment, though, as they are down 2% year to date, as of this writing. Meanwhile, the major market indexes have soared in 2024. With this top travel stock trading at $133 per share, nearly 40% below its all-time high, is buying Airbnb at this level a smart idea? Moat and profits As a two-sided platform with tremendous scale, Airbnb connects millions of hosts and travelers across the globe. The 123 million nights and experiences booked in Q3 serve as clear evidence of the network effects the company enjoys, and this is key to the company's economic moat. This moat is so important because it makes success extremely difficult for new entrants. Someone launching a new competitor to Airbnb would have to bring hosts and travelers onto the platform, but without a large enough base of either user group, this is a tall order. For existing rivals to Airbnb, it's hard to match the depth of offerings. Airbnb currently has 5 million hosts and 8 million active listings in 220 countries. It's the default choice for many hosts and travelers, which creates a positive feedback loop. Airbnb is also consistently profitable. Through the first nine months of this year, Airbnb reported $2.1 billion in operating income, good for a 25% margin. And it generated $1.1 billion in free cash flow (FCF) in Q3, capital that management has used to repurchase outstanding shares. Airbnb's risks Airbnb registered impressive growth during the post-pandemic travel boom. In 2021 and 2022, it posted 77% and 40% revenue growth, respectively. Consumer demand for travel was clearly strong. However, those monster gains are now a thing of the past. After recording an 18% sales increase last year, Airbnb saw the top line expand by just 12% through the first nine months of 2024. The company's performance is stabilizing, so investors expecting the high double-digit growth of years past should temper their expectations. As is often the case with disruptive and innovative businesses that upend entire industries, which is precisely what Airbnb did to the travel sector, there's always uncertainty around the regulatory landscape that investors need to be mindful of. In this instance, Airbnb's presence in some markets has led some local residents and businesses to push for new rules around short-term rentals. The fact that Airbnb operates in so many markets, coupled with the fact that no single city represents more than 2% of overall revenue, adds diversification to the business that protects it from downside. However, it may only take a few major cities or countries to adopt laws that limit short-term rentals to kick off a domino effect. Shares are trading 39% off their peak from Feb. 2021. Don't let that fool you, though. The stock still sells at a forward price-to-earnings (P/E) ratio of 33. This is expensive given FCF is only projected to increase at a 6% annualized pace between 2024 and 2026. Weigh the two sides There are valid bull and bear arguments when it comes to Airbnb stock . The bulls will call out the company's powerful network effects, as well as its ability to generate lots of cash. On the other hand, bears will point to slower growth, regulatory risk, and an expensive valuation. I side with the bears, so I'm keeping the stock on my watch list for now, waiting for a more compelling valuation before making a decision.HALIFAX — Nova Scotia Premier Tim Houston named an expanded 21-member cabinet Thursday during a ceremony in downtown Halifax that excluded reporters in a departure from a long-standing tradition of open coverage. In an address that was livestreamed, Houston said his newly re-elected government would continue to deal with issues that matter to Nova Scotians, including health care, housing and affordability. “This term will also be very focused on growing our economy and continuing to lower taxes,” the premier said. “We have to grow our economy to be better able to support the services that Nova Scotians have a right to expect.” Before the election, in which the Tories won 43 of the legislature’s 55 seats, Houston led a 17-member cabinet. The government allowed only one television outlet to have a pool camera at the ceremony held at the Halifax Convention Centre, citing “limited capacity” inside the building that occupies a full city block. Journalists who tried to enter Thursday were turned away by building security. Houston was asked by reporters as he arrived why the media were not being given access to the new cabinet members. “It’s all live streamed ... It’s a really exciting day, you guys have lots of access, and you guys know that,” he said. Reporters were allowed to attend the swearing-in ceremony held at the same venue after the Tories were first elected in 2021, although it was during the COVID-19 pandemic and they were placed in a separate room to monitor the event before interviewing ministers. In the new cabinet, Houston will be joined by veterans John Lohr, who becomes finance minister, Becky Druhan, who moves from education to justice, and Michelle Thompson, who continues as minister of health. There are five new members, including political newcomer Leah Martin as minister of Communications Nova Scotia and L’ nu affairs and Fred Tilley, a former Liberal who crossed the floor just before the Nov. 26 election and becomes minister of public works. The other new ministers are Dave Ritcey in the tourism portfolio, Nolan Young, who is minister of labour, and Scott Armstrong as minister of opportunities and social development — formerly the Department of Community Services. In another departmental change, veteran minister Colton LeBlanc will head the new Department of Growth and Development, which was formerly known as economic development and will now also oversee housing. Composed of 14 men and seven women, the cabinet will see Barbara Adams return as minister of seniors and long-term care and serve as deputy premier. Tim Halman retains the environment portfolio and Tory Rushton stays on in natural resources, while Kim Masland moves from public works to the Department of Emergency Management. The former community services minister, Brendan Maguire, takes over education and also assumes the duties of advanced education from Brian Wong, who was dropped from cabinet along with Susan Corkum-Greek, the former minister of economic development. Alex Marland, a political scientist at Acadia University, said the government could have found room for reporters had it wanted to. “This isn’t a new government, so there are some experienced hands who at a minimum could have been made available,” Marland said. He added that in general, there are governments that feel the need to control their message, and that also tend to be cautious with newer ministers who lack media training. “If this is a pattern and it persists, that’s going to be a problem for the Houston government,” he said. “But if this is a one off and by January things are a little different because people have gone through media training, then a lot of it will be forgotten.” This report by The Canadian Press was first published Dec. 12, 2024. — With files from Lyndsay Armstrong Keith Doucette, The Canadian Press

HALIFAX — Nova Scotia Premier Tim Houston named an expanded 21-member cabinet Thursday during a ceremony in downtown Halifax that excluded reporters in a departure from a long-standing tradition of open coverage. In an address that was livestreamed, Houston said his newly re-elected government would continue to deal with issues that matter to Nova Scotians, including health care, housing and affordability. “This term will also be very focused on growing our economy and continuing to lower taxes,” the premier said. “We have to grow our economy to be better able to support the services that Nova Scotians have a right to expect.” Before the election, in which the Tories won 43 of the legislature’s 55 seats, Houston led a 17-member cabinet. The government allowed only one television outlet to have a pool camera at the ceremony held at the Halifax Convention Centre, citing “limited capacity” inside the building that occupies a full city block. Journalists who tried to enter Thursday were turned away by building security. Houston was asked by reporters as he arrived why the media were not being given access to the new cabinet members. “It’s all live streamed ... It’s a really exciting day, you guys have lots of access, and you guys know that,” he said. Reporters were allowed to attend the swearing-in ceremony held at the same venue after the Tories were first elected in 2021, although it was during the COVID-19 pandemic and they were placed in a separate room to monitor the event before interviewing ministers. In the new cabinet, Houston will be joined by veterans John Lohr, who becomes finance minister, Becky Druhan, who moves from education to justice, and Michelle Thompson, who continues as minister of health. There are five new members, including political newcomer Leah Martin as minister of Communications Nova Scotia and L’ nu affairs and Fred Tilley, a former Liberal who crossed the floor just before the Nov. 26 election and becomes minister of public works. The other new ministers are Dave Ritcey in the tourism portfolio, Nolan Young, who is minister of labour, and Scott Armstrong as minister of opportunities and social development — formerly the Department of Community Services. In another departmental change, veteran minister Colton LeBlanc will head the new Department of Growth and Development, which was formerly known as economic development and will now also oversee housing. Composed of 14 men and seven women, the cabinet will see Barbara Adams return as minister of seniors and long-term care and serve as deputy premier. Tim Halman retains the environment portfolio and Tory Rushton stays on in natural resources, while Kim Masland moves from public works to the Department of Emergency Management. The former community services minister, Brendan Maguire, takes over education and also assumes the duties of advanced education from Brian Wong, who was dropped from cabinet along with Susan Corkum-Greek, the former minister of economic development. Alex Marland, a political scientist at Acadia University, said the government could have found room for reporters had it wanted to. “This isn’t a new government, so there are some experienced hands who at a minimum could have been made available,” Marland said. He added that in general, there are governments that feel the need to control their message, and that also tend to be cautious with newer ministers who lack media training. “If this is a pattern and it persists, that’s going to be a problem for the Houston government,” he said. “But if this is a one off and by January things are a little different because people have gone through media training, then a lot of it will be forgotten.” This report by The Canadian Press was first published Dec. 12, 2024. — With files from Lyndsay Armstrong Keith Doucette, The Canadian Press

SNP urges Sarwar to ‘stand up’ for pensioners after Starmer ‘betrayal’

BOCA RATON, Fla. (AP) — Deshawn Purdie threw a 47-yard touchdown pass to O'Mega Blake for the go-ahead score and Charlotte defeated Florida Atlantic 39-27 on Saturday in a game that matched two new interim coaches. Charlotte (4-7, 3-4 American Athletic Conference) fired Biff Poggi on Monday and Tim Brewster took over. FAU (2-9, 0-7) fired Tom Ferman, also on Monday, with Chad Lunsford taking charge. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.