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South Korea lifts president's martial law decree after lawmakers vote against itStocks 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 last 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 last 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
(BPT) - Tech gifts are consistently some of the most popular presents to give and receive during the holidays. In fact, according to the annual Consumer Technology Holiday Purchase Patterns report , a record 233 million U.S. adults (89%) will buy tech products during the 2024 holiday season. But with so many devices out there, it can be hard to decide on the perfect option for the loved one on your list. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Krispy Kreme Declares Quarterly Dividend
Indiana faces Nebraska in an NCAA men’s college basketball game on Friday, Dec. 13, 2024 (12/13/24) at Pinnacle Bank Arena in Lincoln, Nebraska. How to watch: Fans can watch the game for FREE via a trial of DirecTV Stream or fuboTV . You can also watch via a subscription to Sling TV , which is 50% off the first month. Here’s what you need to know: What : NCAA men’s college basketball Who : Indiana vs. Nebraska When : Friday, Dec. 13, 2024 (12/13/24) Where : Pinnacle Bank Arena Time : 8 p.m. TV : FOX Channel finder: Verizon Fios , AT&T U-verse , Comcast Xfinity , Spectrum/Charter , Optimum/Altice , Cox , DIRECTV , Dish , Hulu , fuboTV , Sling . Live stream: DirecTV Stream , fuboTV , Sling TV AP Story: Indiana Hoosiers (8-2, 1-0 Big Ten) at Nebraska Cornhuskers (6-2, 0-1 Big Ten) Lincoln, Nebraska; Friday, 8 p.m. EST BOTTOM LINE: Indiana will try to continue its four-game win streak with a victory over Nebraska. The Cornhuskers have gone 5-0 at home. Nebraska scores 79.4 points while outscoring opponents by 8.8 points per game. The Hoosiers play their first true road game after going 8-2 with a 1-2 record in neutral-site games to begin the season. Indiana is ninth in the Big Ten scoring 80.4 points per game and is shooting 50.9%. Nebraska’s average of 6.8 made 3-pointers per game this season is just 0.6 fewer made shots on average than the 7.4 per game Indiana gives up. Indiana has shot at a 50.9% clip from the field this season, 10.5 percentage points greater than the 40.4% shooting opponents of Nebraska have averaged. The matchup Friday is the first meeting this season for the two teams in conference play. TOP PERFORMERS: Brice Williams is shooting 46.5% and averaging 17.5 points for the Cornhuskers. Mackenzie Mgbako is shooting 43.9% from beyond the arc with 1.8 made 3-pointers per game for the Hoosiers, while averaging 15.1 points and 5.1 rebounds. Thank you for relying on us to provide the journalism you can trust. Please consider supporting us with a subscription. Cayden Steele may be reached at CSteele@njadvancemedia.com
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Defense lawyers for President-elect Donald Trump are using President Joe Biden’s pardon of his son Hunter to argue that Trump’s conviction in his Manhattan hush money case should be dismissed. “Yesterday in issuing a 10 year pardon to Hunter Biden that covers any and all crimes whether charged or uncharged, President Biden asserted that his son was ‘selectively, and unfairly prosecuted’ and ‘treated differently,’” Trump lawyers wrote in a motion filed Monday . Trump’s lawyers – Todd Blanche and Emil Bove – whom he has picked for top Justice Department posts in his new administration – argue these comments amount to a condemnation of Biden’s own Justice Department and that New York District Attorney Alvin Bragg has engaged in the same kind of “political theater.” Bragg’s office successfully prosecuted Trump earlier this year for falsifying business records related to hush money payments made to adult film star Stormy Daniels in 2016. Judge Juan Merchan indefinitely postponed Trump’s sentencing in the case after Trump won reelection. Trump’s lawyers also want the conviction dismissed, but the DA’s office says it will oppose any effort to toss the case. In addition to the pardon argument, Trump’s attorneys also told the judge that his case should be dismissed given his reelection last month. “President Trump’s status as President-elect and the soon-to-be sitting President is a ‘legal impediment’ to further criminal proceedings based on the Presidential immunity doctrine (established by the Supreme Court last summer) and the Supremacy Clause,” they wrote. They pointed to special counsel Jack Smith’s decision to end the two federal criminal cases he had brought against Trump last year – a decision Smith said was rooted in longstanding Justice Department policy barring the department from criminally pursuing a sitting president. “Even (Smith) has been forced to concede, by DOJ’s Office of Legal Counsel (‘OLC’ ), that President Trump’s status as President-elect mandates dismissal of the unjust prosecutions pending against him,” they wrote. Last month, Bragg’s office acknowledged to the court in New York that Trump is not likely to be sentenced “until after the end of Defendant’s upcoming presidential term,” but argued that Trump’s felony conviction should stand. A source close to the district attorney’s office said it is open to a four year pause of the case. “No current law establishes that a president’s temporary immunity from prosecution requires dismissal of a post-trial criminal proceeding that was initiated at a time when the defendant was not immune from criminal prosecution and that is based on official conduct for which the defendant is also not immune,” the district attorney’s office wrote. This story has been updated with additional details. CNN’s Devan Cole contributed to this report.
A business associate of an alleged Chinese spy is a major Tory donor who was handed key roles at Government departments, including the Ministry of Defence by the last Conservative government. Former racing tycoon Sir Ron Dennis is the sole director of an investment firm he jointly owns with Yang Tengbo. Yang is the alleged spy barred from the UK on national security grounds after becoming a close confidant of Prince Andrew . He insists the allegations against him are “entirely untrue”. 50-year-old Yang became co-owner with Sir Ron in May 2017 of Coeus International Limited, a fund management firm founded by Dennis two years earlier. This was shortly after Dennis became Co-Chair of the Defence Innovation Advisory Panel for the Ministry of Defence. This panel was set up to “challenge” the MoD on how it is adapting to the changing threats, including cyber, from countries like China . Rheian Davies, Good Law Project’s legal director, said: “The proximity of this alleged spy to a Tory government insider who likely had access to sensitive information, is a case in point of how the rich and powerful in our country may leave themselves and our political system exposed to potentially malign influence to the detriment of us all.” Dennis went on to be appointed non-executive director of the Department for Science, Innovation and Technology for a year from 2023 to 2024. He was in this role when the Intelligence and Security Committee published a bombshell report on China, which found the Far East state “targets the UK and its interests prolifically and aggressively”. The Department has a key role in protecting British research interests and advising UK academics on joint projects with other countries including China. There is no suggestion of any wrongdoing by Dennis or Coeus International. Yang came to the UK in 2002 to study and founded his first business here in 2005. He was granted indefinite leave to remain in the UK in 2013. He started a number of businesses, including consultancy firm Hampton Group International, and split his time between the UK and China. Yang said Hampton helped British firms gain a foothold in China. One client was McLaren, run at the time by Dennis. But in November 2021, Yang was stopped at the UK border and surrendered his digital devices, which were later returned. In 2023, then Home Secretary Suella Braverman excluded him from the UK. Sir Ron Dennis is best known for nearly four decades at the helm of McLaren, the car and racing brand, where he ran their Formula One team. He was forced out after he backed a Chinese takeover of McLaren in 2016. He was a British Business Ambassador for the UK between 2010 and 2019 and was knighted last year. Dennis has donated £579,000 to the Conservatives since 2005, including £250,000 in May. In a statement issued after the High Court agreed to his request for him to be named, Yang Tengbo said: “I have done nothing wrong or unlawful and the concerns raised by the Home Office against me are ill-founded. The widespread description of me as a ‘spy’ is entirely untrue. I have dedicated my professional life in the UK to building links between British and Chinese businesses. My activities have played a part in bringing hundreds of millions of pounds of investment into the UK.” A Conservative party spokesman said: "All reportable donations are properly and transparently declared to the Electoral Commission, published by them, and comply fully with the law." Sir Ron Dennis was not available for comment.
Amazon.com Inc. is asking online shoppers to provide information about product testimonials they’ve posted on TikTok, YouTube and Instagram, suggesting the e-commerce giant is more aggressively targeting paid reviews that merchants can use to gain a competitive edge. In a questionnaire sent to a reviewer and seen by Bloomberg, a member of the company’s product review team wrote: “We are researching reviews and would like to talk to you about the interaction you had with the seller on this product.” Eleven questions followed, including one that asked: “Can you describe the work you’ve done for this seller as an influencer (eg posted videos on YouTube, TikTok, Instagram etc)?” Amazon’s campaign coincides with a government clampdown on paid product reviews. In August, the Federal Trade Commission announced a new rule prohibiting businesses from paying for consumer reviews and giving the agency authority to seek civil penalties against violators. Before announcing the rule, the FTC notified 700 companies, including Amazon, Facebook and Google, about its plans to curb a scourge that has become more prevalent in recent years. While paid reviews date back to the early days of e-commerce, millions of people have since become influencers who earn money to tout products but sometimes fail to disclose their brand affiliations. It’s unclear how Amazon determines who should receive questionnaires or what it intends to do with the responses. It’s also unclear how effective the campaign will be since reviewers can simply ignore the questions. “We have robust and long-standing policies that prohibit review abuse, and we suspend, ban, and take legal action against those who violate these policies,” Amazon spokesperson Juliana Karber said. “We consistently monitor and enforce our policies so customers can shop in our store with confidence.” She declined to answer questions about the questionnaires. Amazon has automated systems designed to detect paid reviews and other signs of unusual behavior, and employs fraud-detection investigators, Karber said. Such efforts prevented more than 250 million suspect reviews from appearing on Amazon in 2023, she said. The company has filed multiple lawsuits against paid review farms, only for new ones to emerge. Representatives from TikTok and YouTube parent Alphabet Inc. declined to comment. Instagram parent Meta Platforms Inc. didn’t respond to requests for comment. Paying for reviews is especially tempting during the competitive holiday shopping season, when online merchants often generate most of their sales and profit. A successful paid review campaign during the busy holiday period can boost sales of obscure products before the paid testimonials can be detected and eliminated. Chris McCabe, a former Amazon executive who runs a consulting business for online merchants, said he has never seen the company send a questionnaire to social-media influencers before. He recently heard from multiple Amazon merchants worried the company would suspend them after influencers they worked with received the questionnaire. “Amazon sellers will all have to be very careful how they interact with TikTok influencers and social-media influencers in general,” McCabe said. “Amazon is starting to investigate the reviewer side of the problem and sellers are going to get suspended if they choose influencers poorly.”
Teenage West Ham goalkeeper dies aged 15 after cancer battle
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