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Stock indexes drifted to a mixed finish on Wall Street as some heavyweight technology and communications sector stocks offset gains elsewhere in the market. The S&P 500 slipped less than 0.1% Thursday, its first loss after three straight gains. The Dow Jones Industrial Average added 0.1%, and the Nasdaq composite fell 0.1%. Gains by retailers and health care stocks helped temper the losses. Trading volume was lighter than usual as U.S. markets reopened following the Christmas holiday. The Labor Department reported that U.S. applications for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Treasury yields fell in the bond market. On Thursday: The S&P 500 fell 2.45 points, or 0.04%, to 6,037.59. The Dow Jones Industrial Average rose 28.77 points, or 0.1%, to 43,325.80. The Nasdaq composite fell 10.77 points, or 1%, to 19,764.89. The Russell 2000 index of smaller companies rose 20.34 points, or 0.9%, to 2,280.19. For the week: The S&P 500 is up 106.74 points, or 1.80%. The Dow is up 485.54 points, or 1.1%. The Nasdaq is up 447.76 points, or 2.3%. The Russell 2000 is up 37.82 points, or 1.7%. For the year: The S&P 500 is up 1,267.76 points, or 26.6%. The Dow is up 5,636.26, or 15%. The Nasdaq is up 5,009.01 points, or 33.4%. The Russell 2000 is up 253.12 points, or 12.5%.Size of state on track to hit New Labour levels: Civil Service now employs more than 5,000 workers By JESSICA CLARK Published: 22:49, 26 December 2024 | Updated: 23:06, 26 December 2024 e-mail 5 View comments The size of the state is on track to hit New Labour levels – as the civil service now employs more than 500,000 workers. Research shows the number of Whitehall staff has soared by a third over the last decade, with the number set to rise further after Rachel Reeves unveiled a ‘big pivot’ towards the public sector in the Autumn Budget . There are now 513,000 full-time civil servants, up 121,000 on 2015 levels. A forecast by the Left-leaning Resolution Foundation think-tank showed that, by the end of the decade, 18.3 per cent of workers will be in the public sector – just below the 18.8 per cent recorded in 2011/12, a year after Gordon Brown lost power. Meanwhile, they are earning 6 per cent more than private sector workers after Sir Keir Starmer handed out inflation-busting pay rises to teachers, nurses, doctors and senior civil servants this year. At the start of 2024, public sector employees were paid 2 per cent more than those in the private sector on average, the research showed. And the pay gap could continue to grow as departments have recommended a 2.8 per cent raise next year, slightly above the expected average inflation rate of 2.6 per cent. Sir Keir Starmer handed out inflation-busting pay rises to teachers, nurses, doctors and senior civil servants this year Research shows the number of Whitehall staff has soared by a third over the last decade, with the number set to rise further after Rachel Reeves unveiled a ‘big pivot’ towards the public sector in the Autumn Budget However, it is lower than unions were expecting and could trigger industrial action. The report said that the pivot to the public sector was a ‘striking change in direction – the first we’ve seen in Britain in the past quarter-century outside of an economic or public health crisis’. The fields in which public sector staff work have also shifted. In 2000, more than half worked in and around local government, but now just one in three does. Health and social workers now make up 37 per cent of government employment, compared to 29 per cent in 2000. And yet Sir Keir earlier this month declared ‘too many people in Whitehall are comfortable in the tepid bath of managed decline’. He was then forced to insist he was blaming ‘bureaucratic impediments’ rather than people, after a backlash by trade union bosses who called his comments ‘insulting’. Meanwhile Cabinet Office minister Pat McFadden recently echoed former Tory aide Dominic Cummings’s call for ‘disruptors, innovators and creative thinkers to join the civil service and boost productivity. Sir Keir earlier this month declared ‘too many people in Whitehall are comfortable in the tepid bath of managed decline’ His comments came as he launched a £100million Innovation Fund to deploy ‘test and learn’ teams of problem-solvers to look at major problems in public services. Ministers also want more tech experts to join the Government for ‘tours of duty’ in the latest phase of the Innovation Fellows Programme, which began in 2021 after Mr Cummings left No10. Resolution Foundation researchers also warned of a fall in disposable income next year due to the impact of Chancellor Ms Reeves’s £25billion tax raid. But it said improved public services mean those in the lower half of incomes will be the equivalent of £28 better off while the top half will be £140 worse off. The top 10 per cent are on course to lose out on an average of £356 next year, but the outlook for the poorest 10 per cent is ‘dire’, it warned. Keir Starmer Rachel Reeves Share or comment on this article: Size of state on track to hit New Labour levels: Civil Service now employs more than 5,000 workers e-mail Add comment
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The Jacksonville Jaguars (2-10) take a five-game losing streak into a meeting against the Tennessee Titans (3-9) on Sunday, December 8, 2024 at Nissan Stadium. What channel is Titans vs. Jaguars on? What time is Titans vs. Jaguars? The Titans and the Jaguars play at 1 p.m. ET. NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more. Titans vs. Jaguars betting odds, lines, spread Titans vs. Jaguars recent matchups Titans schedule Jaguars schedule NFL week 14 schedule This content was created for Gannett using technology provided by Data Skrive.
Chad Chronister, Donald Trump’s pick to run the DEA, withdraws name from consideration
Elon Musk blew up a near-complete bipartisan budget deal with an avalanche of tweets contending that it was too costly, luring Donald Trump into demanding that Republicans kill it. But Musk’s real reason— —was that the agreement included painstakingly negotiated limits on American tech investment in China. Had that provision passed, it would have been costly to Musk’s extensive Chinese Tesla operations and future AI plans. Between Tuesday and Thursday, the budget deal collapsed. Trump, following Musk’s lead, threw in a new demand that the deal tackle the debt ceiling, always a politically tricky vote. But neither Democrats nor Republican fiscal hawks would give Trump that. In the end, legislators of both parties wanted to get home for Christmas, and both houses overwhelmingly passed a simple “continuing resolution” keeping the government funded at roughly present levels through March, plus disaster relief and farm aid. Musk succeeded in stripping out the China provision. Collateral damage included the loss of a bipartisan measure constraining abuses by pharmacy benefit managers, another limiting hotel and ticketing junk fees, and about 100 other bipartisan agreements. (Late night, the Senate did manage to pass two bills that were jettisoned from the deal but had already passed the House: one of several provisions funding pediatric cancer research, and another transferring ownership of the derelict RFK Stadium to Washington, D.C.) The mainstream media focused on the tick-tock of whether the government would shut down, on Musk’s surprising influence, and the issue of the debt ceiling—but totally missed the China investment provision that was the real driver of the dispute. Even the exemplary Heather Cox Richardson missed it. Did Trump miss it? Let’s recall that Trump is a ferocious China hawk. Stopping U.S. investment in sensitive technologies that could help China has been a key element of the agenda for serious China experts in both parties. On that issue, Musk won and Trump was rolled. Trump’s own goal in the budget deal, as noted, was the debt ceiling. The failure to get that will come back to haunt him when the nation’s borrowing limit expires next summer. House Republicans privately discussed a deal in a future reconciliation bill to exchange a $1.5 trillion debt ceiling increase for $2.5 trillion in mandatory spending cuts—think Medicare, Medicaid, food stamps, and veterans benefits. (By law, Social Security cannot be altered in reconciliation.) That will prove politically toxic, even to Republicans. So Democrats will probably have some future leverage on the debt ceiling. House leader Hakeem Jeffries is already talking about , a good idea that would end future MAGA hostage-taking. In contrast to Trump, Musk played his hand in a way that made sure that he won his objective, and didn’t mind sacrificing Trump’s. In blessing the revised deal, which passed the House late Friday, 366-34, and the Senate, 85-11, Musk disingenuously praised Congress for drastically shrinking the total spending. This was total bullshit, since the budget numbers of the original deal and final one were almost identical. But shrinking spending wasn’t the goal: keeping the government out of his China business was. In short, Musk outplayed Trump. Musk is not the sort of guy you can take to the woodshed. And the Inaugural is still a month away. There will be more conflicts between the goals of President Musk and those of President Trump. Some of the slash-and-burn budget cutting that Musk is proposing—Social Security, Medicare, economic development and small business aid—will enrage Republican legislators and governors, and threaten base Republican constituents, not to mention the deep differences over unfolding China policy. Who will outplay whom then?VANCOUVER — Global Affairs Canada is warning Canadians in South Korea to avoid demonstrations and exercise caution after the country's president imposed an hours-long period of martial law. The situation in South Korea arose after President Yoon Suk Yeol imposed martial law on Tuesday, vowing to eliminate what he described as "anti-state" forces from the opposition that controls parliament. Yoon's declaration triggered tense political drama, as troops surrounded the parliament while 190 lawmakers gathered inside to vote to lift the martial law shortly after it was imposed. Global Affairs Canada has not raised the risk level for Canadians in South Korea but did ask those in the country to monitor local media for the latest information, while following authorities' instructions, such as curfew orders. A Vancouver-based travel agent says the chaos in Seoul is not likely to have a major effect on Canadian visitor numbers to South Korea. Glynnis Chan, owner of Happy Times Travel, says the martial law dissolved quickly and will likely have minimal impact on people's travel plans, which tend to be made at least two months in advance. "There's always some sort of impact, but it really depends on what happens with the situation over the long term," Chan says. "If nothing more happens, people forget after a week or so about what took place." Chan says she is not expecting any impact on her business, since Japan is a more popular destination among her customers. Several Korean-Canadian travel agencies in Metro Vancouver declined to comment on the political situation in Seoul. After Yoon's declaration of martial law, hundreds of protesters gathered in front of the national assembly, waving banners and calling for Yoon’s impeachment, while others scuffled with military troops. The South Korean parliamentary members eventually voted to lift the declaration, with national assembly Speaker Woo Won Shik declaring it “invalid.” Police and military personnel were then seen leaving the assembly’s grounds after Woo's call for their withdrawal. Jae-Yeon Lim, vice-president of the Canada Korea Business Association, says seeing military personnel clash with protesters and lawmakers brought back "harrowing" memories of the 1980 student-led demonstrations in Gwangju that were violently suppressed. Yoon’s move was the first declaration of martial law since the country’s democratization in 1987, and South Korea’s last previous martial law was in October 1979. "It has been a very difficult experience to see that," Lim says of the latest martial law declaration. "But that said, I'm really happy to see that ... the national assembly managed to get the majority vote to repeal this, and they managed to do that at the risk of their own lives, even though military was there. "This is a country that will stand up for democracy." Lim also says there would likely be little impact on bilateral relations or trade between the two countries stemming from the sudden onset of political drama, given how quickly martial law was lifted. "It's not going to stop business from seeking to expand in Canada," Lim says. "There's still a very strong interest to do so from many businesses (in South Korea). "We have yet to see what will happen next, but I think that I'm a little bit reassured in seeing what has transpired ... that people are ready to defend their country and democratic rule-of-law." — With files from The Associated Press This report by The Canadian Press was first published Dec. 3, 2024. Chuck Chiang, The Canadian Press
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