CHANCELLOR Rachel Reeves has admitted her £25billion Budget tax raid will not be easy for businesses to absorb. She also said charities and local councils will suffer under her National Insurance Contributions increase. It came as she refused to repeat in the Commons yesterday a promise she made at a CBI speech not to raise taxes again in this Parliament. She told the Yorkshire Post: “I’m not going to pretend that it’s going to be easy for businesses , or indeed for charities or local authorities, to absorb, especially, the national insurance increase. “But we made a commitment during the general election, for a reason, that we wouldn’t increase taxes on working people, because over the last few years it has been working people that have had to bear the brunt of tax increases. “And so we said income tax , VAT and national insurance on employees would not go up, and we have managed to stick to that manifesto commitment, as well as freezing the fuel duty for another year. READ MORE ON RACHEL REEVES “That has meant we have had to increase taxes , particularly national insurance, but also some of the taxes on the wealthiest in society.” Shadow Treasury Minister Richard Fuller last night said: “ Rachel Reeves is again undermining business confidence. “She told the CBI last week ‘there would be no more borrowing, and no more taxes’. “Days later the Business Secretary and then the Prime Minister refused to stand by what she said. Now even she cannot repeat her own words. Most read in The Sun “How can businesses be expected to create jobs, growth and wealth in the economy when the government offers neither stability or credibility?”I’m a Celeb viewers all make same complaint about latest trial
For all its speed and centrifugal force, all its peril and push-the-envelope ingenuity, stock-car racing for decades subsisted on its array of characters. Guys named Fonty and Fireball, the Intimidator and the King, Foyt and France. They were an ensemble of ruffians and renegades, booze runners and barrier crashers, united by a critical common denominator. All were mavericks. Now, their audacity and achievements have been recounted in a sleek, photo-filled coffee-table book. "NASCAR Mavericks: The Rebels and Racers Who Revolutionized Stock Car Racing," was been released. Published by Motorbooks (an imprint of the Quarto Publishing Group), it's available at various online sites including Amazon and store.nascar.com . H.A. "Herb" Branham and Holly Cain, both former Tampa Tribune motorsports writers, spent 10 months on the project, interviewing roughly 100 sources. "What does it mean to be a maverick?" three-time NASCAR champ Tony Stewart asks rhetorically in his foreword. "Speaking from personal experience, it's doing what you think is right, even when others say you're wrong. And it's being told you can't, so you go even harder just to prove them wrong." What ensues over the next 192 pages is an illustrated digest of sorts; character sketches in simple, unapologetic prose of those who embodied the maverick approach. "We talked to just about anybody that was relevant to the stories that were still alive, including obviously the people themselves," Branham said. The mavericks include visionaries who helped propel the sport from red-clay tracks to major speedways (i.e. Bill France Sr.), crew chiefs who bent the rules to nearly their breaking point (i.e. Smokey Yunick), and drivers who had developed their automotive chops by running from the law in the South's nether regions (i.e. Curtis Turner). The group also features those who sped full-throttle into what was once deemed a Southern-male sport. Among them: Wendell Scott, the first Black racer to win a NASCAR Cup Series race; and Sara Christian, the first female driver in the Strictly Stock Division (forerunner to the NASCAR Cup Series). Of course, the stars of NASCAR's heyday — such as Dale Earnhardt, Darrell Waltrip and Richard Petty — get their due, as do modern-day mavericks such as Stewart, Kurt and Kyle Busch, and Hall of Fame crew chief Chad Knaus. Even maverick-style developments (a tobacco company becoming a corporate sponsor, the network TV takeover, the creation of a street race in Chicago) are chronicled. Get local news delivered to your inbox!It's been another banner year for the S&P 500 as impressive earnings and improving expectations have propelled the benchmark index to 26% returns since January. But those increasingly rosy expectations are raising concerns among some of Wall Street's top investors and strategists about how sustainable the rally is, and how historically high valuations may impact future returns. A couple of widely followed valuation metrics reflect this very bullish outlook. There's the so-called "Warren Buffett indicator," or the ratio of total stock market capitalization-to-GDP. And then the Shiller cyclically adjusted price-to-earnings ratio for the S&P 500, which is a 10-year rolling average of the index's trailing 12-month PE ratio. Since high valuations are an indication of lofty future expectations, they have historically meant muted returns over the long term. Expectations are either never met, or even if they are, the good performance is already priced in. Bank of America research shows that starting valuations explain 83% of the S&P 500's returns over the following decade. With current valuations sitting at extremes, many market experts have pointed out that returns could be relatively poor ahead. Below are comments that some of the biggest voices in market have made in recent weeks on the matter. David Kostin, chief US equity strategist at Goldman Sachs Kostin said in October that current Shiller CAPE ratio levels for the S&P 500 means the index is likely to return 3% on average over the next decade. For context, that's lower than the risk-free yield on 10-year Treasurys. Here's that outlook shown in chart form. It illustrates well that close relationship between valuations and future market performance that Bank of America mentions. In an interview with Business Insider later in October, Kostin made a couple of , which peaked in 2000. One is that valuations for the largest stocks in the market are significantly higher than the rest of the S&P 500. Another is that the market cap of the top stock in the index is hundreds of times larger than that of the 75th percentile stock. "We're at a level of concentration in the US market today that we haven't really seen since the tech bubble," Kostin told BI. "It's even more concentrated than it was 20 years ago." Rob Arnott, founder of Research Affiliates Arnott, whose clients include some of the largest institutions on Wall Street, also made dot-com bubble comparisons. While he also sees poor long-term returns ahead for the S&P 500, he said that large-cap growth stocks — which make up much of the index — could suffer a pullback in the near-term. "This looks and feels like the year 2000 to me," earlier this month. "Are we likely to see a bear market in the next two years for large-cap growth? Yeah." He said that earnings growth likely won't live up to expectations, and disruptors in AI will take market share from current top firms. Nelson Peltz, cofounder of Trian Partners Peltz said at CNBC's Delivering Alpha conference earlier in November that valuations have become too elevated, and something will come along to knock them down. "Trees don't grow to the sky, definitely not uninterrupted," Peltz said, using an idiom that refers to valuations becoming disconnected from reality. "There will be something that might upset it. I think you've got euphoria from the election." Dave Sekera, chief US market strategist at Morningstar Sekera also said on the day after the election that and the prospect of higher growth was making the market overvalued. "When I look at the market today, it is trading, with today's bump, probably a 3% to 4% premium above fair value," he said. "Now, a lot of investors may say, 'Eh, 3% to 4% doesn't sound like that much from a market point of view,' but when I look at our valuations going back to 2010, less than 20% of the time have we seen the market trade at this much of a premium or more." He urged investors not to get caught up in the hype. "Based on your risk tolerance, I probably wouldn't be making any changes here today," Sekera said. "And when you do make changes, make sure that you're only making changes when there's really a change in your underlying fundamentals and only make changes in your portfolio based on an informed analysis." Bill Smead, the founder of Smead Capital Management Smead, whose value fund has beaten 97% of similar funds over the last 15 years, according to Morningstar data, also said that the post-election trade was exacerbating an . "It's a disaster waiting to happen," he told BI. "We have put the icing on the financial euphoria cake and lit the candle on top." One piece of evidence showing that euphoria is the level of household equity ownership, Smead said. Right now, around 42% of household assets are in equities, the highest level in history. Jeremy Grantham, cofounder of GMO Grantham has been warning of a "super bubble" in stocks for a few years now, and recently reiterated his dire outlook for the market. "Really great things happen in the internet phase, '98-'99. But they overdo it," published October 30."When you have these great developments, they overdo themselves in the short term, they crash in the intermediate term, and then they come out of the wreckage and change the world in the long term. And that's what I expect will happen this time." Grantham called the 2000 and 2008 market declines. David Einhorn, founder of hedge fund Greenlight Capital Einhorn said at CNBC's Delivering Alpha conference that he sees the market doing well in the near-term. But he said there's no denying how high valuations are, calling today's environment the "the most expensive market of all time, as far as I can see, at least since I've been managing." That means that it's probably not the best time to buy in, he said. "This is a really, really, really pricey environment, but it doesn't necessarily make me bearish. Asset prices can trade at the wrong price, and they can trade at the wrong price for a long period of time," Einhorn said. He added: "I just observe that it's a really expensive market that if you buy and hold for a very long period of time, I doubt that this is a great — you'll look back and say this was a great entry point of all of the entry points that you could have." Albert Edwards, the chief global strategist at Societe Generale Edwards, who is known for his regularly bearish outlook and calling the dot-com bubble, hasn't changed his tune. On Thursday, he wrote in a client note that the US stock market capitalization relative to other developed markets has grown to levels seen in prior US market bubbles. "The dominance of US equity in the global indices (MSCI) has now surpassed the early 1970s extreme," Edwards said. "And the valuation gap between the US and Europe has never been this stretched. High valuations and eps optimism leave the US equity market vulnerable to 'bad' news." US stocks' rising PE ratios are also at odds with rising 10-year Treasury yields, he said. "Just look at the equity euphoria back in 2018, which initially shrugged off rising bond yields – until they didn't. The same happened in 2022," he said. "At some point rising bond yields will just as surely begin to hurt equities." Read the original article onREYKJAVIK, Iceland (AP) — Icelanders will elect a new parliament Saturday after disagreements over immigration, energy policy and the economy forced Prime Minister Bjarni Benediktsson to pull the plug on his coalition government and call early elections. This is Iceland’s sixth general election since the 2008 financial crisis devastated the economy of the North Atlantic island nation and ushered in a new era of political instability. Opinion polls suggest the country may be in for another upheaval, with support for the three governing parties plunging. Benediktsson, who was named prime minister in April following the resignation of his predecessor, struggled to hold together the unlikely coalition of his conservative Independence Party with the centrist Progressive Party and the Left-Green Movement. Iceland, a nation of about 400,000 people, is proud of its democratic traditions, describing itself as arguably the world’s oldest parliamentary democracy. The island’s parliament, the Althingi, was founded in 930 by the Norsemen who settled the country. Here’s what to look for in the contest. Voters will choose 63 members of the Althingi in an election that will allocate seats both by regional constituencies and proportional representation. Parties need at least 5% of the vote to win seats in parliament. Eight parties were represented in the outgoing parliament, and 10 parties are contesting this election. Turnout is traditionally high by international standards, with 80% of registered voters casting ballots in the 2021 parliamentary election. A windswept island near the Arctic Circle, Iceland normally holds elections during the warmer months of the year. But on Oct. 13 Benediktsson decided his coalition couldn’t last any longer, and he asked President Halla Tómasdóttir to dissolve the Althingi. “The weakness of this society is that we have no very strong party and we have no very strong leader of any party,’’ said Vilhjálmur Bjarnson, a former member of parliament. “We have no charming person with a vision ... That is very difficult for us.” The splintering of Iceland's political landscape came after the 2008 financial crisis, which prompted years of economic upheaval after its debt-swollen banks collapsed. The crisis led to anger and distrust of the parties that had traditionally traded power back and forth, and prompted the creation of new parties ranging from the environment focused Left-Green Alliance to the Pirate Party, which advocates direct democracy and individual freedoms. “This is one of the consequences of the economic crash,’’ said Eva H. Önnudóttir, a professor of political science at the University of Iceland. “It’s just the changed landscape. Parties, especially the old parties, have maybe kind of been hoping that we would go back to how things were before, but that’s not going to happen.” Like many Western countries, Iceland has been buffeted by the rising cost of living and immigration pressures. Inflation peaked at an annual rate of 10.2% in February 2023, fueled by the fallout from the COVID-19 pandemic and Russia’s invasion of Ukraine. While inflation slowed to 5.1% in October, that is still high compared with neighboring countries. The U.S. inflation rate stood at 2.6% last month, while the European Union’s rate was 2.3%. Iceland is also struggling to accommodate a rising number of asylum-seekers, creating tensions within the small, traditionally homogenous country. The number of immigrants seeking protection in Iceland jumped to more than 4,000 in each of the past three years, compared with a previous average of less than 1,000. Repeated eruptions of a volcano in the southwestern part of the country have displaced thousands of people and strained public finances. One year after the first eruption forced the evacuation of the town of Grindavik, many residents still don’t have secure housing, leading to complaints that the government has been slow to respond. But it also added to a shortage of affordable housing exacerbated by Iceland’s tourism boom. Young people are struggling to get a foot on the housing ladder at a time when short-term vacation rentals have reduced the housing stock available for locals, Önnudóttir said. “The housing issue is becoming a big issue in Iceland,'' she said. —— Kirka reported from London.
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A woman has bravely shared her story of going from homeless to hopeful ahead of Homelessness Awareness Week. Arianna lost her mum in early childhood due to illness and went to live with her aunt who lived across the street , aged 12. Her dad moved away to Scotland for work three days after his mum, Arianna’s granny died. Her aunt sadly died when Arianna was turning 21. At this stage she went back to live with her who had up to this point provided for her financially but had never been her primary caregiver. Arianna struggled with her at various stages of her childhood but it wasn’t until she was 21 that she disclosed to her GP how difficult she was finding things at home, largely due to her dad’s alcoholism which she had kept secret. The GP referred her to a social worker who referred Arianna to MACS, Northern Ireland’s youth charity. Unable to continue living at home, Arianna spent some time sofa surfing, staying at her sister’s and some friend’s houses. MACS met her where she was and started supporting her via their floating support service. Arianna describes this as a turning point, saying of her MACS support worker Gary: "I didn’t realise help like this existed. He helped me with all the aspects of my life that I needed help with; a lot of people don’t have parents who are able to do stuff for them but MACS helped me every little thing that I needed." Arianna had previously been in a bad car accident which had left her traumatised so Gary drove her to health appointments, to legal and welfare appointments and helped her back into driving lessons to overcome her fear of driving. MACS connected Arianna with the and helped her learn about the welfare system and which benefits she was entitled to while she got herself on her feet. She now has the keys to her own flat and is excited about embarking on a career helping other young people. Arianna describes how MACS helped and encouraged her to enrol on a short course at in Early Adversity and Developmental Trauma. She got the bug for learning and has since completed further educational courses in related topics. She explained: "The courses helped me understand some of my own feelings and behaviours and how they’d been shaped by my early experiences. I hope one day I’ll be able to use this insight and knowledge to help others the way MACS has helped me. "If it hadn’t been for MACS’s help I hate to think where I’d be now, possibly homeless or on the street. Instead, I feel hopeful about my future." Arianna hopes to enrol on a psychology degree or a counselling course next year. MACS Supporting Children and Young People (MACS) is the only youth-specific homelessness charity in Northern Ireland. MACS are challenging people to give up their bed for one night to raise funds towards the crucial housing and support services MACS provide to young people aged 16-25 who are at risk of, or experiencing homelessness in NI. MACS will host the Sleep Out challenge at in Belfast on December 5 to coincide with Homelessness Awareness Week facilitated by Homeless Connect, which aims to raise awareness of the reality of homelessness in NI. Sleep Out is a fun-filled evening with stand-up comedy by Paddy Raff, a drum circle with The Gathering Drum and warm drinks and food courtesy of Bodega Bagels until 11pm when the challenge of sleeping out really begins. Kate Martin, MACS’s CEO, said: “It would be impossible to recreate the fear, loneliness and discomfort of not having a safe place to call home but Sleep Out gives participants a glimpse into the reality some young people are facing. “MACS was established over 30 years ago, the name is an acronym for Mulholland After Care Services as at that time we solely supported young people leaving care. “Over time we’ve widened our support to help all young people who are at risk of homelessness. Unfortunately that demand is higher than ever. MACS support almost 700 young people aged 16-25 every year.“ She added: “Early intervention is so important in breaking the homelessness cycle before it spirals into longer term homelessness and the associated risks. When young people get the right support at the right time they really can and do progress away from homelessness and build brighter futures. “At MACS we concentrate on intensive longer term services; typically each young person receives up to two years of services. Our support is holistic, wrap-around care tailored to each individual's needs over a period of time that allows them time to develop the capacity, confidence and resilience to move on. “The reasons young people find themselves homeless can be complex, it may be due to loss or illness of a family member, adverse childhood experiences, relationship breakdown or other circumstances which are outside of a child or young person’s control. “MACS aims to give these young people security whilst empowering them to find a place to call home and build brighter futures. Every young person deserves a safe place to live and the unwavering support and guidance as they navigate early adulthood.” To register or donate visit . To remove this article -WEST PALM BEACH, Fla. (AP) — First it was Canada , then the Panama Canal . Now, Donald Trump again wants Greenland . The president-elect is renewing unsuccessful calls he made during his first term for the U.S. to buy Greenland from Denmark, adding to the list of allied countries with which he’s picking fights even before taking office on Jan. 20. In a Sunday announcement naming his ambassador to Denmark, Trump wrote that, “For purposes of National Security and Freedom throughout the World, the United States of America feels that the ownership and control of Greenland is an absolute necessity.” Trump again having designs on Greenland comes after the president-elect suggested over the weekend that the U.S. could retake control of the Panama Canal if something isn’t done to ease rising shipping costs required for using the waterway linking the Atlantic and Pacific oceans. He’s also been suggesting that Canada become the 51st U.S. state and referred to Canadian Prime Minister Justin Trudeau as “governor” of the “Great State of Canada.” Stephen Farnsworth, a political science professor at the University of Mary Washington in Fredericksburg, Virginia, said Trump tweaking friendly countries harkens back to an aggressive style he used during his days in business. “You ask something unreasonable and it’s more likely you can get something less unreasonable,” said Farnsworth, who is also author of the book “Presidential Communication and Character.” Greenland, the world’s largest island, sits between the Atlantic and Arctic oceans. It is 80% covered by an ice sheet and is home to a large U.S. military base. It gained home rule from Denmark in 1979 and its head of government, Múte Bourup Egede, suggested that Trump’s latest calls for U.S. control would be as meaningless as those made in his first term. “Greenland is ours. We are not for sale and will never be for sale,” he said in a statement. “We must not lose our years-long fight for freedom.” The Danish Prime Minister’s Office said in its own statement that the government is “looking forward to welcoming the new American ambassador. And the Government is looking forward to working with the new administration.” “In a complex security political situation as the one we currently experience, transatlantic cooperation is crucial,” the statement said. It noted that it had no comment on Greenland except for it “not being for sale, but open for cooperation.” Trump canceled a 2019 visit to Denmark after his offer to buy Greenland was rejected by Copenhagen, and ultimately came to nothing . He also suggested Sunday that the U.S. is getting “ripped off” at the Panama Canal. “If the principles, both moral and legal, of this magnanimous gesture of giving are not followed, then we will demand that the Panama Canal be returned to the United States of America, in full, quickly and without question,” he said. Panama President José Raúl Mulino responded in a video that “every square meter of the canal belongs to Panama and will continue to,” but Trump fired back on his social media site, “We’ll see about that!” The president-elect also posted a picture of a U.S. flag planted in the canal zone under the phrase, “Welcome to the United States Canal!” The United States built the canal in the early 1900s but relinquished control to Panama on Dec. 31, 1999, under a treaty signed in 1977 by President Jimmy Carter . The canal depends on reservoirs that were hit by 2023 droughts that forced it to substantially reduce the number of daily slots for crossing ships. With fewer ships, administrators also increased the fees that shippers are charged to reserve slots to use the canal. The Greenland and Panama flareups followed Trump recently posting that “Canadians want Canada to become the 51st State” and offering an image of himself superimposed on a mountaintop surveying surrounding territory next to a Canadian flag. Trudeau suggested that Trump was joking about annexing his country, but the pair met recently at Trump’s Mar-a-Lago club in Florida to discuss Trump’s threats to impose a 25% tariff on all Canadian goods. “Canada is not going to become part of the United States, but Trump’s comments are more about leveraging what he says to get concessions from Canada by putting Canada off balance, particularly given the precarious current political environment in Canada,” Farnsworth said. “Maybe claim a win on trade concessions, a tighter border or other things.” He said the situation is similar with Greenland. “What Trump wants is a win,” Farnsworth said. “And even if the American flag doesn’t raise over Greenland, Europeans may be more willing to say yes to something else because of the pressure.” __ Associated Press writers Gary Fields in Washington and Geir Moulson in Berlin contributed to this report.Wall Street inches higher to set more records
The first of Kwanzaa’s seven principles galvanized around 100 Hempstead Village residents to read aloud as one in honor of their elders, cheer on one young dancer and reflect on their collective cultural history Thursday. The Village of Hempstead’s annual Kwanzaa Celebration drew around 100 residents to Kennedy Memorial Park, where the seven lit candles of the kinara — one black for the people, three red for their struggle and three green for their hope for the future — were flanked by other traditional holiday decorations, including a mazao, or fruit basket, and a small black unity cup. To kick off the ceremony, seven elders, each representing a principle of Kwanzaa, marched to the sound of a hand-beaten drum towards the front of a crowd. “As African American people, it’s a way to embrace culture or history that many have lost,” Village of Hempstead Mayor Waylyn Hobbs Jr. said minutes before marching with seniors from his community. “Many of our ancestors that came here, they didn’t come here of their free will. There’s a whole history of culture that has been lost from Africa to America, so this is a way of bridging some of that tradition, and giving our young people an understanding that we come from a rich history.” Celebrated every year from Dec. 26 to Jan. 1, Kwanzaa is a secular holiday created in 1966 by Dr. Maulana Karenga, a California State University professor. The seven candles are lit to recognize the holiday’s seven principles, Swahili words that in English translate to unity; self-determination; collective work and responsibility; cooperative economics; purpose; creativity; and faith. The biggest news, politics and crime stories in Nassau County, in your inbox every Friday at noon. By clicking Sign up, you agree to our privacy policy . The crowd celebrated their elders in a responsive reading. Around 100 voices thanked their elders for being “living examples of courage and perseverance.” “We give thanks for the stories you have collected through the years,” Olita Wingate said, leading the crowd. In turn, attendees said “By sharing your stories, you help shape ours.” An array of speakers captured the crowd's attention Thursday evening before the kinara candles were lit and guests enjoyed chicken, mac and cheese and other eats. Rev. Cynthia Diaz, of International House of Hope and Healing Ministries, reflected on the spirit of growth and victory in the face of adversity, and hope for the future. Her speech was occasionally interrupted by the sound of around 200 hands clapping. “No matter how far we fall, no matter how much fear we may have of falling, still we rise,” Diaz said. “We rise as a people, we rise individually, we rise collectively. We will rise in 2025.”AP News Summary at 5:43 p.m. EST
Quest Partners LLC acquired a new stake in TriCo Bancshares ( NASDAQ:TCBK – Free Report ) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,793 shares of the financial services provider’s stock, valued at approximately $588,000. Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBK. Dimensional Fund Advisors LP raised its position in shares of TriCo Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after purchasing an additional 50,358 shares during the period. American Century Companies Inc. raised its holdings in TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after acquiring an additional 86,689 shares during the period. Curi RMB Capital LLC lifted its position in TriCo Bancshares by 1.6% during the 3rd quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock worth $14,792,000 after acquiring an additional 5,314 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in TriCo Bancshares by 8.9% during the second quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock valued at $9,333,000 after acquiring an additional 19,224 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of TriCo Bancshares by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 9,723 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds. Insider Buying and Selling at TriCo Bancshares In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $135,600. The trade was a 31.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink . Company insiders own 4.64% of the company’s stock. TriCo Bancshares Stock Up 3.2 % TriCo Bancshares ( NASDAQ:TCBK – Get Free Report ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, analysts anticipate that TriCo Bancshares will post 3.38 EPS for the current year. Wall Street Analysts Forecast Growth Several equities analysts recently weighed in on the company. Piper Sandler cut their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Stephens reduced their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Finally, DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.20. View Our Latest Stock Report on TriCo Bancshares TriCo Bancshares Profile ( Free Report ) TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans. Further Reading Want to see what other hedge funds are holding TCBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TriCo Bancshares ( NASDAQ:TCBK – Free Report ). Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter .Israel strikes Houthi rebels in Yemen's capital while the WHO chief says he was meters away JERUSALEM (AP) — A new round of Israeli airstrikes in Yemen have targeted the Houthi rebel-held capital of Sanaa and multiple ports. The World Health Organization’s director-general said the bombardment on Thursday took place just “meters away” as he was about to board a flight in Sanaa. He says a crew member was hurt. The strikes followed several days of Houthi attacks and launches setting off sirens in Israel. Israel's military says it attacked infrastructure used by the Houthis at the international airport in Sanaa, power stations and ports. The Israeli military later said it wasn’t aware that the WHO chief was at the location in Yemen. Israeli attorney general orders probe into report that alleged Netanyahu's wife harassed opponents JERUSALEM (AP) — Israel’s attorney general has ordered police to open an investigation into Prime Minister Benjamin Netanyahu’s wife on suspicion of harassing political opponents and witnesses in the Israeli leader’s corruption trial. The Israeli Justice Ministry made the announcement in a terse message late Thursday., saying the investigation would focus on the findings of a recent report by the “Uvda” investigative program into Sara Netanyahu. The program uncovered a trove of WhatsApp messages in which Mrs. Netanyahu appears to instruct a former aide to organize protests against political opponents and to intimidate Hadas Klein, a key witness in the trial. Earlier Thursday, Netanyahu blasted the Uvda report as “lies.” The US says it pushed retraction of a famine warning for north Gaza. Aid groups express concern. WASHINGTON (AP) — U.S. officials say they asked for — and got — the retraction of an independent monitor's warning of imminent famine in north Gaza. The internationally Famine Early Warning System Network issued the warning this week. The new report had warned that starvation deaths in north Gaza could reach famine levels as soon as next month. It cited what it called Israel's “near-total blockade” of food and water. The U.S. ambassador to Israel, Jacob Lew, criticized the finding as inaccurate and irresponsible. The U.S. Agency for International Development, which funds the famine-monitoring group, told the AP it had asked for and gotten the report's retraction. USAID officials tell The Associated Press that it had asked the group for greater review of discrepancies in some of the data. Trump has pressed for voting changes. GOP majorities in Congress will try to make that happen ATLANTA (AP) — Republicans in Congress plan to move quickly in their effort to overhaul the nation’s voting procedures, seeing an opportunity with control of the White House and both chambers of Congress. They want to push through long-sought changes such as voter ID and proof-of-citizenship requirements. They say the measures are needed to restore public confidence in elections. That's after an erosion of trust that Democrats note has been fueled by false claims from Donald Trump and his allies of widespread fraud in the 2020 election. Democrats say they are willing to work with the GOP but want any changes to make it easier, not harder, to vote. Americans are exhausted by political news. TV ratings and a new AP-NORC poll show they're tuning out NEW YORK (AP) — A lot of Americans, after an intense presidential election campaign, are looking for a break in political news. That's evident in cable television news ratings and a poll from The Associated Press-NORC Center for Public Affairs Research. The poll found nearly two-thirds of Americans saying they've found the need recently to cut down on their consumption of political and government news. That's particularly true among Democrats following President-elect Donald Trump's victory, although a significant number of Republicans and independents feel the same way. Cable networks MSNBC and CNN are really seeing a slump. That's also happened in years past for networks that particularly appeal to supporters of one candidate. Aviation experts say Russia's air defense fire likely caused Azerbaijan plane crash as nation mourns Aviation experts say that Russian air defense fire was likely responsible for the Azerbaijani plane crash the day before that killed 38 people and left all 29 survivors injured. Azerbaijan is observing a nationwide day of mourning on Thursday for the victims of the crash. Azerbaijan Airlines’ Embraer 190 was en route from Azerbaijan’s capital of Baku to the Russian city of Grozny in the North Caucasus on Wednesday when it was diverted for reasons yet unclear and crashed while making an attempt to land in Aktau in Kazakhstan. Cellphone footage circulating online appeared to show the aircraft making a steep descent before smashing into the ground in a fireball. India's former prime minister Manmohan Singh, architect of economic reforms, dies aged 92 NEW DELHI (AP) — India’s former Prime Minister Manmohan Singh, widely regarded as the architect of India’s economic reform program and a landmark nuclear deal with the United States, has died. He was 92. The hospital said Singh was admitted to New Delhi’s All India Institute of Medical Sciences late Thursday after his health deteriorated due to “sudden loss of consciousness at home." He was “being treated for age-related medical conditions,” the statement added. A mild-mannered technocrat, Singh became one of India’s longest-serving prime ministers for 10 years and earned a reputation as a man of great personal integrity. But his sterling image was tainted by allegations of corruption against his ministers. Ukraine's military intelligence says North Korean troops are suffering heavy battlefield losses KYIV, Ukraine (AP) — Ukraine's military intelligence says North Korean troops are suffering heavy losses in Russia's Kursk region and face logistical difficulties as a result of Ukrainian attacks. The intelligence agency said Thursday that Ukrainian strikes near Novoivanovka inflicted heavy casualties on North Korean units. Ukraine's president said earlier this week that 3,000 North Korean troops have been killed and wounded in the fighting in the Kursk region. It marked the first significant estimate by Ukraine of North Korean casualties several weeks after Kyiv announced that North Korea had sent 10,000 to 12,000 troops to Russia to help it in the almost 3-year war. How the stock market defied expectations again this year, by the numbers NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The benchmark index posted its first back-to-back annual gains of more than 20% since 1998. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn’t just Apple, Nvidia and the like. Bitcoin and gold surged and “Roaring Kitty” reappeared to briefly reignite the meme stock craze. Holiday shoppers increased spending by 3.8% despite higher prices New data shows holiday sales rose this year even as Americans wrestled with still high prices in many grocery necessities and other financial worries. According to Mastercard SpendingPulse, holiday sales from the beginning of November through Christmas Eve climbed 3.8%, a faster pace than the 3.1% increase from a year earlier. The measure tracks all kinds of payments including cash and debit cards. This year, retailers were even more under the gun to get shoppers in to buy early and in bulk since there were five fewer days between Thanksgiving and Christmas. Mastercard SpendingPulse says the last five days of the season accounted for 10% of the spending. Sales of clothing, electronics and Jewelry rose.
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