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FBI Director Christopher Wray announced on Wednesday that he will resign in January before President-elect Donald Trump takes office. "After weeks of careful thought, I've decided the right thing for the bureau is for me to serve until the end of the current administration in January and then step down," Wray told bureau employees in remarks released by the FBI. Trump, who is to be sworn in as president on January 20, has announced the nomination of staunch loyalist Kash Patel to replace Wray as the head of the top US law enforcement agency and he welcomed the FBI chief's resignation. Wray was named by Trump in 2017 to head the 38,000-strong Federal Bureau of Intelligence but the incoming president has since soured on his choice. Wray had three more years remaining in his 10-year term as FBI director but faced potentially being fired by Trump. "The resignation of Christopher Wray is a great day for America as it will end the Weaponization of what has become known as the United States Department of Injustice," Trump said in a post on Truth Social. "Under the leadership of Christopher Wray, the FBI illegally raided my home, without cause, worked diligently on illegally impeaching and indicting me, and has done everything else to interfere with the success and future of America," Trump said. The FBI raided Trump's Mar-a-Lago home in August 2022 to recover top secret documents taken without authorization from the White House. Trump was indicted for mishandling classified documents and obstruction of justice but the case was dismissed by a Trump-appointed judge. Wray, in his remarks to the FBI workforce, said stepping down "is the best way to avoid dragging the bureau deeper into the fray, while reinforcing the values and principles that are so important to how we do our work." "In terms of how we do the work, we've got to maintain our independence and objectivity -- staying above partisanship and politics," he said. "That's what the American people expect of us and that's what they deserve." Patel, a former Trump advisor and Pentagon official, has been critical of the FBI and is known for his controversial views. A fierce defender of the incoming president, Patel supports the Republican hardliner notion of an anti-Trump "deep state" of allegedly biased government bureaucrats working to stifle Trump from behind the scenes, even having written a book on the subject. A son of Indian immigrants, Patel served in several high-level posts during Trump's first term including as a national security advisor and as chief of staff to the acting defense secretary. Trump, in his Truth Social post, accused law enforcement officials of using "their vast powers to threaten and destroy many innocent Americans, some of which will never be able to recover from what has been done to them." "Kash Patel is the most qualified Nominee to lead the FBI in the Agency's History, and is committed to helping ensure that Law, Order, and Justice will be brought back to our Country again, and soon," he said. "I look forward to Kash Patel's confirmation, so that the process of Making the FBI Great Again can begin." Attorney General Merrick Garland praised Wray's "principled leadership" of the FBI, saying he had served "honorably and with integrity." "The director of the FBI is responsible for protecting the independence of the FBI from inappropriate influence in its criminal investigations," Garland said in a statement. "That independence is central to preserving the rule of law and to protecting the freedoms we as Americans hold dear." cl/dwHyundai Motor and Kia's Robotics LAB Announce Plans to Launch 'X-ble Shoulder' at Wearable Robot Tech Day

Robert Half director Dirk Kempthorne sells $76,729 in stockTyrese Hunter tossed in a game-high 26 points to lead Memphis to a 99-97 upset victory over No. 2 UConn on Monday in the first round of the Maui Invitational in Lahaina, Hawaii. Hunter, who played at Iowa State and Texas before transferring to Memphis, made eight field goals with 7-of-10 3-point shooting. The Tigers (5-0) connected on 12 of their 22 3-point attempts in the win. UConn's Hassan Diarra made a free throw to cut the Memphis lead to 99-97 with 2.2 seconds left. He intentionally missed the second free throw and collected the loose ball, but his desperation shot was off the mark. It was 92-92 when UConn's Liam McNeeley was called for an offensive foul with 40.3 seconds left. UConn coach Dan Hurley received a technical for arguing the foul call, and PJ Carter made all four free throws to give the Tigers a four-point lead. Memphis, which squandered a 13-point lead with four minutes to play in regulation, received 22 points from PJ Haggerty, 19 from Colby Rogers and 14 from Dain Dainja. Memphis will play the winner of Monday night's game between Colorado and Michigan State in Tuesday's semifinals. UConn will face the loser of that contest. Tarris Reed Jr. had a team-high 22 points and a game-high 11 rebounds for UConn (4-1) before he fouled out with 3:18 to play. He made 10 of his 13 field goal attempts. Alex Karaban added 19 points for the Huskies. Jaylin Stewart scored a career-high 16 points, Diarra had 12 and McNeeley added 10. UConn trailed 82-79 after Diarra made two free throws with 24.2 seconds to play in regulation. The Huskies then forced a turnover and tied the game on a 3-pointer by Solo Ball with 1.2 on the clock. Although Memphis shot 56.5 percent from the field (13 for 23) and 50 percent from 3-point territory (5 for 10) in the first half, the game was tied 40-40 after 20 minutes. Neither team led by more than six points in the half. UConn received 29 points from its bench in the first half. Reed scored 15 of those points and Stewart supplied the other 14. --Field Level MediaOur community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Derek McInnes admits he was delighted to discover Lawrence Shankland will be missing when Hearts visit Rugby Park on Sunday. Shankland ended a 12-game goal drought when his double earned Hearts a 2-0 win over Dundee last Saturday. But the striker also picked up his sixth domestic booking of the season which means he will be suspended this weekend. “Lawrence scoring last Saturday was huge for Hearts as he was so important in them finishing third last season,” said Killie boss McInnes. “So I am absolutely buzzing he is suspended this week!” McInnes now hopes the absence of the striker can boost his chances of taking advantage of any potential Euro hangover suffered by the Gorgie men. Neil Critichley’ s side will head to Ayrshire after a testing Europa Conference League assignment in Copenhagen on Thursday and McInnes knows only too well how difficult it can be in those circumstances. Killie lost all three of their domestic fixtures earlier this season after returning from European trips to Bruges, Tromso and Copenhagen. “That type of European fixture can take a lot out of you,” added McInnes. “We played in Copenhagen on a Thursday and then had to go to Pittodrie on the Sunday. “Hearts have games through their legs now but I have always found that it helps if you are at home after a European game. The travel again, after travelling abroad, puts you at a wee disadvantage but Hearts have a good squad and plenty of bodies to choose from. “Neil won’t be using that as an excuse but all managers will want to play a team off the back of a European game. That is just natural. You want to play a team who haven’t had a rest but regardless of whether Hearts are fresh or not, we have to be the team that catches fire and gets a strong performance.” Killie inflicted the first defeat of Critichley’s Hearts tenure when they came from behind to win 2-1 at Tynecastle at the end of October. “We beat them with a strong performance that day but we will need to turn up for 90 minutes on Sunday,” said McInnes. “Hearts have a clear way of playing under Neil. When Steven Naismith was the manager, they were flexible and had a lot of success doing that. Hearts have good players and they have a set way of playing under Neil.” Killie keeper Robby McCrorie has recovered from the knock which forced him to limp off against Dundee United at Tannadice last Saturday while winger Matty Kennedy could return against Hearts. Tune in to Hotline Live every Sunday to Thursday and have your say on the biggest issues in Scottish football.Trump says he can't guarantee tariffs won't raise US prices and won't rule out revenge prosecutions

Juan Soto agrees to 15-year, $765-million deal with New York Mets: ReportPep Guardiola sure 75 per cent of Premier League clubs want Man City relegatedNone

NoneIn 2020, Alibaba Group Holding Ltd BABA prepared for the record-breaking IPO of its affiliate, Ant Group, poised to revolutionize financial technology. Just days before the launch, regulators revealed that Ant had bypassed key banking laws to expand its services. The IPO, valued at $35 billion, was abruptly suspended, causing Alibaba's stock to plummet 13% in a single day. Shortly after, the State Administration for Market Regulation launched an antitrust investigation into Alibaba's monopolistic practices. Investors alleged that Alibaba misled them about regulatory risks tied to Ant Group, its ownership structure, and lending activities. Alibaba has agreed to a $433.5 million settlement with investors to resolve these claims. Affected investors can now file a claim to receive their payouts. Overview In July 2020, Ant Group announced plans for a record-breaking $35 billion IPO, poised to drive significant growth for Alibaba Group Holding Ltd BABA , which held a 33% stake. However, regulatory concerns over Ant's business model, ownership structure, and compliance with new fintech rules led to the IPO's abrupt suspension in November, just days before its launch. The fallout caused Alibaba's shares to plummet, erasing billions in market value, and triggered an antitrust investigation into its monopolistic "Choose One of Two" practices. In response, investors filed a class-action lawsuit, accusing Alibaba of failing to disclose critical regulatory risks. Recently, Alibaba agreed to pay $433.5 million to affected shareholders to settle this lawsuit. SAMR's Crackdown on Alibaba: Legal and Regulatory Implications As Alibaba's market dominance and access to vast consumer data grew, the Chinese government expressed rising concerns about its economic impact. In response, the SAMR introduced new anti-monopoly regulations on September 1, 2019, targeting practices by powerful companies like Alibaba. On November 5, SAMR convened a meeting with around twenty major e-commerce firms, warning that practices like "Choose One of Two" were illegal and must stop. While Alibaba did not deny using such practices, it dismissed the criticism as "slander" and "malicious hype" in a press statement. Under growing regulatory pressure, however, the company eventually committed to compliance, acknowledging potential scrutiny for future violations. Despite the clear warnings, Alibaba continued its anti-competitive behavior. In November 2020, the government introduced new regulations specifically targeting monopolistic behavior in the internet industry, with Alibaba as a primary focus. This announcement triggered a sharp 9% drop in Alibaba's share price on November 10, 2020. By December, SAMR launched a formal investigation, which ultimately found Alibaba guilty and resulted in a record $2.8 billion fine. Political Risk and the Hidden Investors Behind Ant’s IPO Ant Group was spun off from Alibaba in 2011. Jack Ma controlled 50.5% of Ant's shares, while Alibaba held a 33% stake. On July 20, 2020, Alibaba announced Ant’s IPO, aiming to raise a record $35 billion with a $300 billion valuation, sparking excitement among investors, as Alibaba's stake could be worth over $100 billion. However, the enthusiasm was short-lived, as the company revealed in November 2020 that the IPO had been abruptly suspended. The suspension was largely driven by Ant's attempt to bypass financial regulations. Although operating as a financial services company, Ant positioned itself as a tech firm to avoid traditional banking rules. Its high-risk lending activities, with leverage ratios of 50-60 times, raised serious concerns among regulators. In response, China introduced new rules in September 2020, requiring financial holding companies like Ant to maintain higher capital levels, further intensifying scrutiny. Jack Ma's criticism of regulators in an October speech further fueled tensions. Another major risk to the IPO was the hidden identities of private investors whose interests conflicted with those of Chinese President. These investors concealed their ownership through complex and opaque investment structures. Jack Ma was reportedly aware of the political risks tied to these undisclosed ownership interests but failed to address them transparently. When the Chinese government uncovered the identities of these investors during an investigation prior to the Ant IPO, it decided to halt the offering entirely. As a result of the undisclosed information, the share price of Alibaba dropped from $310 on November 2, 2020, to $222 on December 24, 2020, indicating a total fall of 29%. Following these events, investors accused Alibaba of failing to disclose the regulatory risks tied to Ant Group and its monopolistic practices, leading to a lawsuit against the company. Resolving the Case To resolve the lawsuit from investors, Alibaba has agreed to a cash settlement of $433.5 million. If you invested in Alibaba, you may be eligible to claim a portion of this settlement to recover your losses. Despite these efforts, Alibaba’s stock remains below its peak, trading at $85. In August 2024, China's market regulator announced that Alibaba had completed three years of "rectification" for monopolistic behavior. Alibaba called the announcement a "new starting point for development" and pledged to continue fostering the healthy growth of the platform economy. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Mumbai: Leading brokerage Ventura Securities Ltd has set a bullish target of Rs 3,801 for Adani Enterprises Ltd’s (AEL) stock, which is a potential upside of 57.8 per cent over the next 24 months. The share of Adani Group’s flagship company is currently trading at Rs 2,409 apiece. In a bull case scenario, the target price rises to Rs 5,748, which would mark an upside of 138.6 per cent, the brokerage said in its note. “We have assumed revenue of Rs 1,66,615 crore (FY24-27E CAGR of 20 per cent) and an EBITDA margin of 20 per cent at an EV/EBITDA of 23.4X, which will result in a bull case price target of Rs 5,748,” said the brokerage. Also Read: Indian Stock Market Closes Flat Amid Range-Bound Trading, Eyes on Q3 Results Adani Enterprises is on a strong growth trajectory, as per the note by Ventura. Over fiscal years 2024 to 2027, its consolidated revenue is expected to grow at a compounded annual growth rate of 17.5 per cent to Rs 1.56 lakh crore. “EBITDA and net margins are projected to expand by 647 basis points to 18.3 per cent and 255 bps to 5.9 per cent, respectively,” it said, adding that “return ratios – RoE and RoIC – are expected to improve by 563 bps to 14.5 per cent and 99 bps to 11.3 per cent, respectively”. According to the note, this growth will be driven by the company’s expansion of airport, solar, and wind turbine businesses, as well as revenue contributions from copper business. The Adani Group’s flagship company is targeting Rs 6.5-7 lakh crore in capital expenditure over the next decade, primarily focusing on airports, data centres, copper, and green hydrogen, Ventura said. “This expansion will be funded through debt, which is expected to lead to an increase in the company’s debt-to-equity and debt-to-EBITDA ratios over the next few years,” it added.

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The Supreme Court on Friday agreed to review a pair of consequential decisions that struck down the Federal Communication Commission 's Universal Service Fund, a $8 billion annual program supporting phone and internet access in schools, libraries, and rural areas. A decision in the case, for which arguments are expected next year, could reshape the boundaries of federal regulatory authority and reignite debates over the nondelegation doctrine, which limits Congress ’s ability to transfer legislative power to federal agencies. One of the cases granted, Consumers' Research v. FCC, was previously decided in a 9-7 ruling by the full 5th U.S. Circuit Court of Appeals that found the USF’s funding mechanism unconstitutional. The legal question more specifically focuses on the FCC's authority to collect fees from telecommunications providers, who pass the cost to consumers to fund the program. The 5th Circuit, one of the most conservative in the nation, determined that Congress granted the FCC excessive power and that the agency further delegated authority to a private entity, violating constitutional limits. The cases granted Friday coincide with a broader trend of reviewing alleged federal regulatory overreach, as the previous high court term saw the justices curb federal regulatory power by overturning Chevron deference , restricting administrative adjudication in SEC v. Jarkesy , and reinforcing the major questions doctrine. A conservative challenge to federal oversight Consumers' Research, a conservative advocacy group campaigning against "woke" corporate frameworks such as environmental, social, and governance principles, argued that the FCC’s funding structure unfairly burdens consumers and exceeds the scope of its congressional mandate. The Supreme Court previously declined to hear similar appeals by Consumers' Research after federal appellate courts upheld the program in a case known as SHLB Coalition v. Consumers' Research. However, the 5th Circuit’s en banc decision presented a split that warranted the justices’ attention. The Biden administration swiftly appealed the ruling, arguing that dismantling the USF would disrupt critical services relied upon by millions of people in the United States. The nondelegation doctrine returns The Supreme Court has not struck down a federal law on nondelegation grounds since 1935, but recent conservative-majority rulings suggest a willingness to revisit the doctrine. Republican-appointed Justices Neil Gorsuch and Clarence Thomas have been vocal about their interest in curbing what they see as an unchecked delegation of power to administrative agencies. Other members appointed by Republican presidents, including Chief Justice John Roberts and Justice Amy Coney Barrett, have also expressed concerns about the constitutional boundaries of agency authority. Legal experts believe the case could serve as a significant vehicle for the court to clarify or expand the nondelegation doctrine. Corbin Barthold, internet policy counsel at TechFreedom, predicted last month that the justices could be interested in taking on the case, writing on his Substack page: "A majority of the sitting justices have expressed interest in ending that dry spell, and they are about to get their chance." Possible effect on rural and underserved communities The outcome of the case could have far-reaching implications for communities that depend on the Universal Service Fund. Rural areas, where broadband access remains sparse, are among the largest beneficiaries of the program. Schools and libraries that rely on the fund to provide internet access for students could also face significant setbacks if the funding structure is dismantled. Supporters of the USF argue that its elimination would create a digital divide, disproportionately harming low-income and rural communities. However, critics contend that the funding method is regressive, effectively taxing consumers to subsidize services in a manner that lacks transparency and accountability. “American citizens and consumers alike deserve basic accountability in government and in the marketplace," Will Hild, executive director of Consumers' Research, wrote in a statement Friday. "Americans currently are forced to pay a tax with every phone bill, set by unelected bureaucrats, at the recommendation by the same private corporation that receives the revenue." CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER The Supreme Court's eventual ruling in this case will likely have ripple effects across the regulatory landscape, possibly limiting the ability of federal agencies to enact rules without explicit congressional authorization. However, the timing of the case adds a political wrinkle: with arguments expected in late March, the incoming Trump administration will have an opportunity to influence the litigation’s trajectory. The administration’s stance remains unclear, but it could signal a shift in federal regulatory priorities.

SAO PAULO (AP) — federal police said Thursday they indicted former President Jair and 36 other people for allegedly attempting a coup to keep him in office after his defeat in the 2022 elections. Police said their findings were being delivered Thursday to Brazil’s Supreme Court, which must decide whether to refer them to Prosecutor-General Paulo Gonet, who will either formally charge Bolsonaro and put him on trial, or toss the investigation. The former right-wing president has denied all claims he tried to stay in office after in 2022 to his rival, leftist President Luiz Inácio Lula da Silva. Bolsonaro has faced a series of legal threats since then. Police said in a brief statement that the Supreme Court had agreed to reveal the names of all 37 people who were indicted “to avoid the dissemination of incorrect news.” The 700-page police document likely will take several days for the court to review, Supreme Court justice Alexandre de Moraes said. Dozens of former and current Bolsonaro aides also were indicted, including Gen. Walter Braga Netto, who was his running mate in the 2022 campaign; former Army commander Gen. Paulo Sérgio Nogueira de Oliveira; Valdemar Costa Neto, the chairman of Bolsonaro’s Liberal Party; and his veteran former adviser, Gen. Augusto Heleno. The investigation started last year. On Tuesday, four military men and one federal police agent . Other investigations focus on Bolosnaro’s potential roles in into Brazil without properly declaring them, and in directing a subordinate to falsify his and others’ COVID-19 vaccination statuses. Bolsonaro has denied any involvement in either. Another probe found that he had to cast doubt on the country’s voting system, and judges barred him from running again until 2030. The far-reaching investigations have weakened Bolsonaro’s status as a leader of Brazil’s right wing, said Carlos Melo, a political science professor at Insper University in Sao Paulo. “Bolsonaro is already barred from running in the 2026 elections,” Melo told the The Associated Press. “And if he is convicted he could also be jailed by then. To avoid being behind bars, he will have to convince Supreme Court justices that he has nothing to do with a plot that involves dozens of his aids. That’s a very tall order,” Melo said. On Tuesday, the federal police arrested four military and a federal police officer to overthrow the government following the 2022 elections, including alleged plans to kill Lula and other top officials.Victor Wembanyama went to a park in New York City and played 1-on-1 with fans on Saturday. He even lost a couple of games. Not in basketball, though. Wemby was playing chess. And this wasn't on a whim: He knows how to play and even brought his own chess set. Before the San Antonio Spurs left New York for a flight to Minnesota, Wembanyama put out the call on social media: “Who wants to meet me at the SW corner of Washington Square park to play chess? Im there,” Wembanyama wrote. It was 9:36 a.m. People began showing up almost immediately. Washington Square Park is a known spot for chess in New York — Bobby Fischer among others have famously played there, and it's been used for multiple movie scenes featuring the game. Wembanyama was there for an hour in the rain, from about 10-11 a.m. He played four games, winning two and losing two — he told Bleacher Report afterward that both of the losses were to professional chess players — before departing to catch the Spurs' flight. Wembanyama had been trying to get somewhere to play chess for the bulk of the team's time in New York — the Spurs played the Knicks on Christmas and won at Brooklyn on Friday night. The schedule never aligned, until Saturday morning. And even with bad weather, he bundled up to make it happen. He posed for photos with a couple of dozen people who showed up, braving a morning of cold rain to play chess with one of the NBA's biggest stars. “We need an NBA players only Chess tournament, proceeds go to the charity of choice of the winner,” he wrote on social media after his chess trip was over. Wembanyama is averaging 25.2 points and 10.1 rebounds this season, his second in the NBA after winning rookie of the year last season. The Spurs play at Minnesota on Sunday. AP NBA: https://apnews.com/hub/NBA

Brazilian police indict former President Bolsonaro and aides over alleged 2022 coup attempt

Frankel’s free throws help Northeastern hold off Colgate late, 78-75None

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