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One night last month, near the end of the Chicago International Film Festival, a particularly long line of moviegoers snaked down Southport Avenue by the Music Box Theatre. The hot ticket? This fall’s hottest ticket, in fact, all over the international festival circuit? Well, it’s a 215-minute drama about a fictional Hungarian Jewish architect who emigrates to America in 1947 after surviving the Holocaust. The film’s title, “The Brutalist,” references several things, firstly a post-World War II design imperative made of stern concrete, steel, and a collision of poetry and functionality. Director and co-writer Brady Corbet, who wrote “The Brutalist” with his filmmaker wife, Mona Fastvold, explores brutalism in other forms as well, including love, envy, capitalist economics and how the promise of America eludes someone like the visionary architect László Tóth, played by Adrien Brody. Corbet, now 36 and a good bet for Oscar nominations this coming January, says his unfashionable sprawl of a picture, being distributed by A24, is also about the “strange relationship between artist and patron, and art and commerce.” It co-stars Felicity Jones as the visionary architect’s wife, Erzsébet, trapped in Eastern Europe after the war with their niece for an agonizingly long time. Guy Pearce portrays the imperious Philadelphia blueblood who hires Tóth, a near-invisible figure in his adopted country, to design a monumental public building known as the Institute in rural Pennsylvania. The project becomes an obsession, then a breaking point and then something else. Corbet’s project, which took the better part of a decade to come together after falling apart more than once, felt like that, too. Spanning five decades and filmed in Hungary and Italy, “The Brutalist” looks like a well-spent $50 million project. In actuality, it was made for a mere $10 million, with Corbet and cinematographer Lol Crawley shooting on film, largely in the VistaVision process. The filmmaker said at the Chicago festival screening: “Who woulda thunk that for screening after screening over the last couple of months, people stood in line around the block to get into a three-and-a-half-hour movie about a mid-century designer?” He lives in Brooklyn, New York, with Fastvold and their daughter. Our conversation has been edited for clarity and length. Q: Putting together an independent movie, keeping it on track, getting it made: not easy, as you told the Music Box audience last night. Money is inevitably going to be part of the story of “The Brutalist,” since you had only so much to make a far-flung historical epic. A: Yeah, that’s right. In relation to my earlier features, “The Childhood of a Leader” had a $3 million budget. The budget for “Vox Lux” was right around $10 million, same as “The Brutalist,” although the actual production budget for “Vox Lux” was about $4.5 million. Which is to say: All the money on top of that was going to all the wrong places. For a lot of reasons, when my wife and I finished the screenplay for “The Brutalist,” we ruled out scouting locations in Philadelphia or anywhere in the northeastern United States. We needed to (film) somewhere with a lot less red tape. My wife’s previous film, “The World to Come,” she made in Romania; we shot “Childhood of a Leader” in Hungary. For “The Brutalist” we initially landed on Poland, but this was early on in COVID and Poland shut its borders the week our crew was arriving for pre-production. When we finally got things up and running again with a different iteration of the cast (the original ensemble was to star Joel Edgerton, Marion Cotillard and Mark Rylance), after nine months, the movie fell apart again because Russia’s invasion of Ukraine. We couldn’t get any of the banks to cash-flow the tax credit (for location shooting in Poland). It’s completely stable now, but at that time the banks were nervous about whether the war would be contained to Ukraine or not. And then we finally got it up and running in Budapest, Hungary. Q: That’s a long time. A: Every filmmaker I know suffers from some form of post-traumatic stress (laughs). It sounds funny but it’s true. At every level. On the level of independent cinema, you’re just so damn poor. You’re not making any money, and yet from nose to tail, at minimum, a movie always takes a couple of years. With bigger projects, you might have a little more personal security but a lot less creative security with so many more cooks in the kitchen. Either route you choose, it can be an arduous and painful one. Whether you’re making a movie for a million dollars, or $10 million, or $100 million, it’s still “millions of dollars.” And if you’re concerned about the lives and livelihoods of the people working with you, it’s especially stressful. People are constantly calling you: “Is it happening? Are we starting? Should I take this other job or not?” And you have 250 people who need that answer from you. Every iteration of the project, I always thought we were really about to start in a week, two weeks. It’s just very challenging interpersonally. It’s an imposition for everyone in your life. And then there’s the imposition of screening a movie that’s three-and-a-half-hours long for film festivals, where it’s difficult to find that kind of real estate on the schedule. So essentially, making a movie means constantly apologizing. Q: At what point in your acting career did you take a strong interest in what was going on behind the camera? A: I was making short films when I was 11, 12 years old. The first thing I ever made more properly, I guess, was a short film I made when I was 18, “Protect You + Me,” shot by (cinematographer) Darius Khondji. It was supposed to be part of a triptych of films, and I went to Paris for the two films that followed it. And then all the financing fell through. But that first one screened at the London film festival, and won a prize at Sundance, and I was making music videos and other stuff by then. Q: You’ve written a lot of screenplays with your wife. How many? A: Probably 25. We work a lot for other people, too. I think we’ve done six together for our own projects. Sometimes I’ll start something at night and my wife will finish in the morning. Sometimes we work very closely together, talking and typing together. It’s always different. Right now I’m writing a lot on the road, and my wife is editing her film, which is a musical we wrote, “Ann Lee,” about the founder of the Shakers. I’m working on my next movie now, which spans a lot of time, like “The Brutalist,” with a lot of locations. And I need to make sure we can do it for not a lot of money, because it’s just not possible to have a lot of money and total autonomy. For me making a movie is like cooking. If everyone starts coming in and throwing a dash of this or that in the pot, it won’t work out. A continuity of vision is what I look for when I read a novel. Same with watching a film. A lot of stuff out there today, appropriately referred to as “content,” has more in common with a pair of Nikes than it does with narrative cinema. Q: Yeah, I can’t imagine a lot of Hollywood executives who’d sign off on “The Brutalist.” A: Well, even with our terrific producing team, I mean, everyone was up for a three-hour movie but we were sort of pushing it with three-and-a-half (laughs). I figured, worst-case scenario, it opens on a streamer. Not what I had in mind, but people watch stuff that’s eight, 12 hours long all the time. They get a cold, they watch four seasons of “Succession.” (A24 is releasing the film in theaters, gradually.) It was important for all of us to try to capture an entire century’s worth of thinking about design with “The Brutalist.” For me, making something means expressing a feeling I have about our history. I’ve described my films as poetic films about politics, that go to places politics alone cannot reach. It’s one thing to say something like “history repeats itself.” It’s another thing to make people see that, and feel it. I really want viewers to engage with the past, and the trauma of that history can be uncomfortable, or dusty, or dry. But if you can make it something vital, and tangible, the way great professors can do for their students, that’s my definition of success. “The Brutalist” opens in New York and Los Angeles on Dec. 20. The Chicago release is Jan. 10, 2025. Michael Phillips is a Tribune critic.
‘Days Of Our Lives’ Cast – 1 New Star Joins in Surprising Role With ‘Complicated Secrets’
Holly Valance’s husband is to become Reform UK’s treasurer, after renouncing his Conservative Party membership over what he described as “too many broken promises.” Billionaire property tycoon Nick Candy accused the Tories of a “complete breach of trust with the wealth creators in our country” and said he would take up the fundraising role in the new year. Ms Valance is also a prominent Reform backer. The Australian- British actress and singer was pictured with her husband, Donald Trump and party leader Nigel Farage at the US president-elect’s Mar-a-Lago resort in 2022. Reform has been buoyed by a series of Tory defections, including former minister Andrea Jenkyns, and described Mr Candy’s appointment as its “latest coup” as it prepares for the local elections in May. Mr Candy said: “I have today resigned my membership of the Conservative Party after many years of active support and substantial donations to the party. “I am sorry to say there have been too many broken promises and a complete breach of trust with the wealth creators in our country. “Nigel Farage is a close personal friend of mine, and Reform UK represents the future of British politics. “I am pleased to announce that I will now become the treasurer for Reform UK and intend to raise enough funds for them to win the next general election. “I will take up the role in the new year.” Reform leader Nigel Farage MP said: “I warmly welcome this decision. We are the fastest-growing movement in British politics today and Nick’s efforts will help Reform UK transform our country.”Falcon’s Beyond Global Issues Reminder of Upcoming Stock Dividend
The Bears look for an interim coach bump when they visit the struggling 49ersThe Detroit Lions are facing a Chicago Bears team that are coming off of another tough loss. Related Articles Detroit Lions | Grading the Lions’ Week 12 win, as the defense smothers the Colts Detroit Lions | Lions rush for 3 scores and use stingy defense to beat Colts 24-6 for 9th straight win Detroit Lions | Takeaways as Lions cruise past Colts, 24-6, despite injuries piling up Detroit Lions | Photo gallery from the Lions’ 24-6 road win over the Colts Detroit Lions | Lions place Ennis Rakestraw on IR, activate Emmanuel Moseley Despite tying the game late, the Bears went on to lose to the Vikings in overtime, 30-27, dropping their fifth consecutive game and dipping their record to 4-7. For Dan Campbell’s squad, three key contributors may not be available, especially with the upcoming game occurring just four days after a 24-6 win against the Indianapolis Colts. Detroit’s fourth-year head coach expressed, “It’s going to come down to the wire with a number of them. That’s the challenge with the short week. The good news is, I think most of these are not some long-term thing, but the problem is three days to turn around and play. That’s where it becomes a bit of an issue. So, if we can’t, we’re prepare like we always are. Next man up. You got to hold the line, do your job and go compete.” When asked specifically about which three players are the toughest to decide upon, Campbell noted three key players who have helped the team win nine consecutive games may not suit up. “Right now, I mean, Decker, CD (Carlton Davis), Leaf (Kalif Raymond). Saint’s (Amon-Ra St. Brown) a little banged up. We’ll see how he recovers.” For the Lions, the message this week is about healing up and preparing mentally for another NFC North matchup. Detroit has not won on Thanksgiving since back in 2016. Quarterback Jared Goff expressed postgame the seven-game losing streak is one the current team would like to end. “Message is really recovery. Rest, recovery and the mental work,” said Campbell. “It’s how fast can you recover, get your body right, get your mind focused on the job at hand, because you’re not going to get the physical. Block out all the distractions. That’s one thing, the distractions are on us, not on them. We got all our family here, friends, all that. You got to block it out, tell them you love them, and you’ll see them him after the game. “That’s kind of the challenge with all this,” Campbell continued. “This team’s been in, they’ve lost a couple of heartbreakers in the last two weeks. But they’ve been in a bunch of these tight races, and they just keep coming back for more. So they’re hungry for a win. We got our hands full.” This article was produced by the staff at Detroit Lions On SI. For more, visit si.com/nfl/lions
Manufacturing sector's struggle for revivalOver 1,000 Syrian regime soldiers enter Iraq through Al-Qa'im border crossing
The New York Post has published what it reports as new footage of the suspect in the shooting of UnitedHealthcare CEO Brian Thompson . In the surveillance video obtained from a cigar store on Sixth Avenue, the suspected gunman can be seen leaving a subway station at around 6:15 a.m., 30 minutes before the fatal shooting occurred in front of the Hilton Hotel in midtown Manhattan. The Post writes that it appears the suspect was leaving the 57th Street subway station, which is nearby the hotel’s location. The report did not include comment from the NYPD surrounding the footage. The NYPD previously released photos of the alleged suspect on Tuesday and Wednesday, with some taken at a nearby Starbucks before the shooting and others seemingly showing him unmasked and grinning. The suspect has yet to be identified, but several clues have since risen including the purchase of a gun seemingly linked to that used in the shooting and a phone dropped at the crime scene. A Catholic nun was among a group of 25 people arrested in Italy on Monday as part of a mafia bust for a laundry list of crimes that included extortion, drug trafficking, and money laundering. Anna Donelli, 57, of the Sisters of Charity Institute in Milan, volunteered at prisons around the city of Brescia—but a police investigation determined that her ostensibly spiritual services concealed a seedy criminal underside to her interactions with inmates, according to CNN. Prosecutors allege that she was “exploiting the very spiritual role she carried out” to run information back and forth between mob bosses and imprisoned foot soldiers for the infamous ’Ndrangheta crime syndicate. “She carried orders, directives, moral and material aid to associates, receiving in turn from the prisoners useful information to better plan criminal strategies,” prosecutor Francesco Prete said Thursday, according to CNN. Donelli’s cover story was that she was a liaison between prisoners and prison officials, in addition to refereeing soccer games at the prison. The anti-mafia operation that landed the nun and over two dozen other mobsters under arrest was carried out by over 300 officers and also resulted in the recovery of drugs, weapons, and the equivalent of nearly $2 million in cash. If you’re trying to pick up gifts for the loved ones on your list, here’s a tip: everyone appreciates the gift of softer and more manageable hair and skin. The Avon Company, North America has been in the beauty industry for over a century and stocks some of the trendiest skin care, fragrances, and personal care items on the market. These curated picks ensure your giftee will be glowing even on the dullest winter day. This moisturizer tackles one of winter’s biggest annoyances—chapped lips. It has a hydration-boosting formula that counteracts dry air while visibly softening lips and adding a glossy hint of color. Free Shipping Cold air strips away the skin’s natural moisture, which leads to cracking and flaking. The Beyond Glow Serum uses vitamin B3 to strengthen the skin’s barrier against colder temperatures and even out skin tone. Free Shipping This replenishing hair mist uses rice water—a popular traditional beauty treatment in Asia—to revitalize and nourish dull and damaged hair. Free Shipping If you buy something from this post, we may earn a small commission. Billionaire owner of the Los Angeles Times , Dr. Patrick Soon-Shiong, has announced his plans to launch a “bias meter” for all articles on the outlet’s website as soon as next year. Speaking to CNN’s Scott Jennings on his radio show , the media mogul explained the meter would allow readers to view different perspectives on a news or opinion article in real time and allow them to write or read comments on the subject matter. “What we need to do is not have what we call ‘confirmation bias’ and then that story, automatically, the reader can press a button and get both sides of that exact same story based on that story and then give comments,” Soon-Shiong explained. “Now I’m giving you some little breaking news here but this is what we’re currently building behind the scenes. And I’m hoping that by January we launch this.” The billionaire proceeded to explain his hope for the module in building “respectful disagreement” and starting a “conversation.” Following his announcement, the L.A. Times ’ editorial guild released a statement in response writing, “the newspaper’s owner has publicly suggested his staff harbors bias, without offering evidence or examples” and that they value “an earnest search to understand all sides of an issue.” Soon-Shiong notably blocked the paper from publishing a Kamala Harris endorsement in October which was met with opposition from some staff. Timothée Chalamet thanked Bob Dylan for the shoutout after the legendary singer-songwriter praised his new biopic A Complete Unknown . “Floored. I am so grateful. Thank you Bob,” Chalamet posted on X . The film, set to be released on Dec. 25, stars Chalamet as a young Dylan. “Timmy’s a brilliant actor so I’m sure he’s going to be completely believable as me. Or a younger me. Or some other me,” Dylan posted on X . Though Dylan didn’t share if he’s seen the film yet, he did recommend the book the biopic is based off of. “The film’s taken from Elijah Wald’s Dylan Goes Electric – a book that came out in 2015. It’s a fantastic retelling of events from the early ‘60s that led up to the fiasco at Newport,” he added. “After you’ve seen the movie read the book.” Dylan also gave a nod to the film’s title, A Complete Unknown , which references lyrics from Dylan’s 1965 song “Like a Rolling Stone.” “What a title!” he wrote. Scouted selects products independently. If you purchase something from our posts, we may earn a small commission. It’s not every day that you can score a deal on a high-quality printer at a lower cost. Investing in a quality printer for your home or office is a game-changer, and while it’s not the most fun purchase, it’ll pay for itself in a couple of months. Fortunately, you don’t have to pay full price for a solid printer, thanks to HP’s current sale . Right now, you can score the HP Envy Inspire 7955e , the brand’s premium at-home photo printer for $70 off. If you’re looking for a solid holiday gift that they’ll actually use, the deluxe multi-purpose printer is a great choice—especially for photographers and anyone who works from home. The all-in-one printer is also designed with HP’s Wolf Essential Security system to keep your information secure and keep hackers out. Plus, unlike other printers that require you to get your hands dirty to replenish the ink, this one offers a 15-second mess-free ink refill experience with bottles that can be plugged into the tank. Say goodbye to messes and hello to your new printer . Best of all? For a limited time, score three months of Instant Ink with HP+. The slain UnitedHealthcare CEO had a criminal record for drunk driving and was secretly separated from his wife for years before he was shot dead in Manhattan on Wednesday, according to public records. Minnesota court filings show that in 2017 Brian Thompson was arrested and convicted on charges of fourth-degree driving while impaired, for which he received probation. In addition to legal troubles, the executive, who was gunned down in what NYPD has labeled a “premeditated, pre-planned, targeted attack,” also seems to have faced recent marital issues. Based on property records, voter registration forms, and reports from neighbors, Brian and Paulette Thompson had lived in different homes less than a mile apart in Maple Grove, Minnesota, for the past several years, The Wall Street Journal reported . In 2018, Thompson bought a five-bedroom second house for around $1 million, while his wife’s residence remained in another house nearby, also worth about $1 million, based on Zillow listings and public records. Paulette Thompson told MSNBC her husband had received threats related to his company’s “lack of coverage” and said in a statement to a local Fox affiliate in Minnesota that his killing had left her and their two sons “shattered.” About 12 hours after his killing, someone made a bomb threat at his Minnesota home, but authorities did not find any evidence of explosives, TMZ reported . UnitedHealthcare and the Hennepin County District Court did not immediately respond to a Daily Beast inquiry about Thompson’s DUI. A top health insurance provider has scrapped a controversial plan to limit anesthesia coverage for surgical patients in at least one state. Anthem Blue Cross Blue Shield will no longer try to implement the much-ridiculed cap—which would have required patients to pay out-of-pocket for any anesthesia administered after their surgery went over an arbitrary time limit—on plans in Connecticut, the state’s comptroller, Sean Scanlon, shared Thursday. “After hearing from people across the state about this concerning policy, my office reached out to Anthem,” he said in a statement. “I’m pleased to share this policy will no longer be going into effect here in Connecticut.” The controversial plan was announced last month for customers in Connecticut, New York, and Missouri. The pending policy went viral on Wednesday, however, after the CEO of UnitedHealthcare, Brian Thompson, was gunned down in Manhattan in a “targeted attack.” It remains unclear if the cap will still go into place next year for New Yorkers or those in the Show Me State. Anthem is yet to say what drove it to pull its plan in Connecticut. Bill Lawrence, creator of Scrubs , is currently developing a reboot of the widely loved sitcom for ABC, Variety reported. Despite having a deal with Warner Bros. Television, the studio is reportedly carving out space for Lawrence to work on the show. Citing a source familiar with the matter, Variety adds that Lawrence will not be serving as the reboot’s showrunner if it gets fully greenlit. Cast members have also yet to be attached, and no other deals for the reboot are reportedly in place. Running for nine seasons between 2001 and 2008, Scrubs followed the daily hijinks of a hospital staff and starred Zach Braff, Donald Faison, Sarah Chalke, Judy Reyes, Ken Jenkins, John C. McGinley, and Neil Flynn. A reboot of the show has been thrown around for some time, with Lawrence sharing at a 2022 ATX Festival panel , “We’re gonna do it, you guys know. If you ever have an excuse to work with people you want to spend time with anyway, run to it.” Lawrence also famously created or co-created series like Cougar Town , Ted Lasso , and Shrinking . A 7.0-magnitude earthquake struck Northern California on Thursday morning, briefly triggering a tsunami warning for nearly 5 million people . The earthquake hit at 10:44 a.m. PST west of Petrolia, California in the Pacific Ocean, the US Geological Survey said. A 5.8-magnitude aftershock was recorded minutes later near Cobb, California, and several other apparent aftershocks between 2.5 to 4.2 magnitude followed. A tsunami warning issued for parts of the Northern California and Oregon coastlines, however, was called off by the early afternoon. California officials are responding to earthquake activity Gov. Gavin Newsom said in a post on X . The California Governor’s Office of Emergency Services is said to be coordinating with local officials in Humboldt and Lake counties, where significant earthquake activity was reported. More than 10,000 Humboldt County customers are reportedly without power. While no damage has been reported in San Francisco, the city’s Bay Area Rapid Transit, announced it is experiencing significant service disruptions due to the earthquake. Scouted selects products independently. If you purchase something from our posts, we may earn a small commission. Apparently, boosting prostate health can actually be pleasurable—at least, that’s what premium sexual wellness brand MysteryVibe says. The Molto, an ultra-slim and bendable prostate vibrator designed by a doctor, is engineered to be the same size and width as a doctor’s finger and to mimic similar motions to that performed during an exam, allowing for not only intense prostate (the prostate is often hailed as the male ‘G-spot’) and anal stimulation but also a release of prostatic fluids. According to the brand, some studies have found that excess prostatic fluid can lead to inflammation and pressure, so not only is this a sex toy , but it’s also possibly an investment in your prostate health. Think of it almost like a lymphatic massage for your prostate—except one that can give you intense orgasms, too. Made with body-safe silicone, the multifunctional and gender-fluid vibrator is powered by one “anatomically-placed” motor that delivers potent yet precise vibration to the anus and prostate without feeling bulky or inflexible. It’s a great sex toy for those new to anal play or who are looking for an ultra-sleek vibrator with possible health-boosting benefits. The prostate vibrator is equipped with 16 vibration settings and eight pre-set vibration patterns, allowing for superior control and customization. Plus, the device comes with access to a catalog of vibration patterns with the free MysteryVibe smartphone app. Best of all? Because the Molto vibrator is an FDA-registered class II medical device, it’s also FSA/HSA eligible. Associates of the right-wing firebrand Ric Grenell sought the help of MAGA influencers to secure him Donald Trump ’s nomination for s ecretary of state . Shortly after Trump’s election victory, an ally of Grenell’s approached conservative social media influencers, offering paid contracts up to five figures to post favorable content about Grenell, Politico reported Thursday. Influencers, the contract stipulated, would post pro-Grenell content and do so during “peak posting times,” ensure that “content must appear genuine,” and not “as an overt advertisement or promotional message.” Grenell denied the alleged influencer conspiracy to Politico. However, his desire for the highly coveted Cabinet position was no secret. Trump’s former ambassador to Germany and acting director of national intelligence spent the past three years reportedly telling people in the president-elect’s orbit that it was secretary of state “or bust.” Despite being one of Trump’s most loyal cohorts, Trump ultimately chose Florida Sen. Marco Rubio to lead the State Department . Grenell is said to have been offered other posts, including director of national intelligence, but has turned the offers down. Actress Amber Heard has announced that she is expecting her second baby. “It is still quite early in the pregnancy, so you will appreciate that we do not want to go into much detail at this stage,” a spokesman for Heard said Thursday to People . “Suffice to say that Amber is delighted both for herself and Oonagh Paige.” Heard welcomed her daughter in 2021. “I wanted to do it on my own terms,” Heard wrote in a post announcing Oonagh’s birth via a surrogate. “I hope we arrive at a point in which it’s normalized to not want a ring in order to have a crib.” Heard has never commented on who the biological father is. The actress relocated to Madrid, Spain after the highly publicized defamation battle with ex-husband Johnny Depp . Heard told NBC News after the trial in 2022 that she was hoping to focus more on her growing family. “I get to be a mom, like, full time, you know? Where I’m not having to juggle calls with lawyers,” she said.
Oracle Corp. stock underperforms Monday when compared to competitors
Stocks closed higher on Wall Street as the market posted its fifth straight gain and the Dow Jones Industrial Average notched another record high. The S&P 500 rose 0.3%. The benchmark index’s 1.7% gain for the week erased most of its loss from last week. The Dow rose 1% as it nudged past its most recent high set last week, and the Nasdaq composite rose 0.2%. Markets have been volatile over the last few weeks, losing ground in the runup to elections in November, then surging following Donald Trump's victory, before falling again. The S&P 500 has been steadily rising throughout this week to within close range of its record. It's now within about 0.5% of its all-time high set last week. “Overall, market behavior has normalized following an intense few weeks,” said Mark Hackett, chief of investment research at Nationwide, in a statement. Several retailers jumped after giving Wall Street encouraging financial updates. Gap soared 12.8% after handily beating analysts' third-quarter earnings and revenue expectations, while raising its own revenue forecast for the year. Discount retailer Ross Stores rose 2.2% after raising its earnings forecast for the year. EchoStar fell 2.8% after DirecTV called off its purchase of that company's Dish Network unit. Smaller company stocks had some of the biggest gains. The Russell 2000 index rose 1.8%. A majority of stocks in the S&P 500 gained ground, but those gains were kept in check by slumps for several big technology companies. Nvidia fell 3.2%. Its pricey valuation makes it among the heaviest influences on whether the broader market gains or loses ground. The company has grown into a nearly $3.6 trillion behemoth because of demand for its chips used in artificial-intelligence technology. Intuit, which makes TurboTax and other accounting software, fell 5.7%. It gave investors a quarterly earnings forecast that fell short of analysts’ expectations. Facebook owner Meta Platforms fell 0.7% following a decision by the Supreme Court to allow a multibillion-dollar class action investors’ lawsuit to proceed against the company. It stems from the privacy scandal involving the Cambridge Analytica political consulting firm. All told, the S&P 500 rose 20.63 points to 5,969.34. The Dow climbed 426.16 points to 44,296.51, and the Nasdaq picked up 42.65 points to close at 2,406.67. European markets closed mostly higher and Asian markets ended mixed. Crude oil prices rose. Treasury yields held relatively steady in the bond market. The yield on the 10-year Treasury fell to 4.41% from 4.42% late Thursday. In the crypto market, bitcoin hovered around $99,000, according to CoinDesk. It has more than doubled this year and first surpassed the $99,000 level on Thursday. Retailers remained a big focus for investors this week amid close scrutiny on consumer spending habits headed into the holiday shopping season. Walmart, the nation's largest retailer, reported a quarter of strong sales and gave investors an encouraging financial forecast. Target, though, reported weaker earnings than analysts' expected and its forecast disappointed Wall Street. Consumer spending has fueled economic growth, despite a persistent squeeze from inflation and high borrowing costs. Inflation has been easing and the Federal Reserve has started trimming its benchmark interest rates. That is likely to help relieve pressure on consumers, but any major shift in spending could prompt the Fed to reassess its path ahead on interest rates. Also, any big reversals on the rate of inflation could curtail spending. Consumer sentiment remains strong, according to the University of Michigan's consumer sentiment index. It revised its latest figure for November to 71.8 from an initial reading of 73 earlier this month, though economists expected a slight increase. It's still up from 70.5 in October. The survey also showed that consumers' inflation expectations for the year ahead fell slightly to 2.6%, which is the lowest reading since December of 2020. Wall Street will get another update on how consumers feel when the business group The Conference Board releases its monthly consumer confidence survey on Tuesday. A key inflation update will come on Wednesday when the U.S. releases its October personal consumption expenditures index. The PCE is the Fed's preferred measure of inflation and this will be the last PCE reading prior to the central bank's meeting in December.None
This photo taken on Sept. 11, 2024 shows the pavilion of Tesla at the China National Convention Center in Beijing, capital of China. (Xinhua/Ju Huanzong) BEIJING, Dec. 29 (Xinhua) -- China's fast-growing new-energy sector is not only a domestic success story, but also serves as a global game-changer, offering collaboration dividends across the entire industrial chain and providing a fresh boost to the global economy. This global impact is evident in the Thai government's backing for Chinese automakers to build an electric vehicle supply chain in the country, a move that Surasit Thanadtang, director of the Thai-Chinese Strategic Research Center under the National Research Council of Thailand, deems a smart strategy. Already, several Chinese car manufacturers have established factories in Thailand, including SAIC, Great Wall, BYD and Chery. This influx of Chinese electric vehicles is not only attracting further investment but also inspiring Chinese automotive supply chain companies to expand their presence there. Firms like Gotion High-Tech and SVOLT Energy Technology have set up battery production bases, while electronics manufacturers such as Ningbo Sunrise Elc Technology and Changzhou Aohong Electronics have announced new investments in Thailand. Thailand is tapping into China's knowledge and technical expertise to bolster its own electric vehicle sector, drive technological advancements, and generate employment opportunities, Surasit said. China's foray into the new-energy sector is not an isolated endeavor. It is an open-door policy aimed at fostering growth. This approach has led to an increasing number of multinationals aligning with China's new-energy sector to capitalize on the opportunities it presents. Tesla's rapid development serves as a fitting example. Since the launch of its Shanghai plant in 2019, the facility has leveraged China's comprehensive supply chain system and top-tier intelligent manufacturing capabilities to become the most efficient vehicle factory within Tesla's global network. With the ability to produce a car in less than 40 seconds, the factory has emerged as Tesla's primary global export center. In 2023, it delivered 947,000 vehicles, accounting for more than half of Tesla's global deliveries last year. In April, Mercedes-Benz announced an upgrade to its Shanghai R&D hub to expedite intelligent innovation in China, and Volkswagen Group China declared a 2.5-billion-euro investment to expand its production and innovation center in Hefei, Anhui Province. BMW's production base in Shenyang, northeast China's Liaoning Province, has seen cumulative investments nearing 100 billion yuan (about 13.91 billion U.S. dollars) since 2010. These investments are not just about growth in China but also about leveraging China's expertise to enhance their global competitiveness. "In the past, it was often said that China needs Bosch and its innovative technologies for the development of the country's automotive industry. But today, the narrative has shifted: Bosch also needs China," Xu Daquan, president of Bosch China, said at the second China International Supply Chain Expo in November. China's new-energy industry also helps forge a win-win model for green and low-carbon energy transitions. For instance, the De Aar Wind Farm in South Africa, the first wind power project financed, constructed and operated by a Chinese company in Africa, has eased the local electricity crunch. While in Kenya, the Garissa Solar Power Plant, also built by a Chinese company, has started operations, lifting tens of thousands of households out of energy poverty. China is ready to fulfill its responsibilities as a major developing country by collaborating with others to enhance clean energy industries and supply chains, share knowledge and experience, promote the shift to green and low-carbon energy, and contribute to global sustainable energy development, according to the white paper titled "China's Energy Transition," published in August. Currently, China is collaborating on green energy projects with over 100 countries and regions. According to the International Renewable Energy Agency, the average global cost per megawatt-hour for wind and solar power has plummeted by over 60 percent and 80 percent, respectively, over the last decade. A substantial portion of these savings is credited to Chinese innovation, manufacturing prowess, and engineering excellence, which are driving down costs and making renewable energy more accessible worldwide, experts say.