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AP News Summary at 1:38 p.m. ESTTariffs could raise prices
Pavan K. Varma | Don’t airbrush history, but respect context & fact too《TAIPEI TIMES》 Former Kinmen official’s prison sentence upheld
Syrian insurgents reach the capital's suburbs. Worried residents flee and stock up on supplies
Interpublic Group of Cos. stock underperforms Tuesday when compared to competitorsNEW YORK (AP) — U.S. stocks tiptoed to more records amid a mixed Tuesday of trading, tacking a touch more onto what’s already been a stellar year so far. The S&P 500 edged up by 2 points, or less than 0.1%, to set an all-time high for the 55th time this year. It’s climbed in 10 of the last 11 days and is on track for one of its best years since the turn of the millennium. The Dow Jones Industrial Average slipped 76 points, or 0.2%, while the Nasdaq composite added 0.4% to its own record set a day earlier. AT&T rose 4.6% after it boosted its profit forecast for the year. It also announced a $10 billion plan to send cash to its investors by buying back its own stock, while saying it expects to authorize another $10 billion of repurchases in 2027. On the losing end of Wall Street was U.S. Steel, which fell 8%. President-elect Donald Trump reiterated on social media that he would not let Japan’s Nippon Steel take over the iconic Pennsylvania steelmaker. Nippon Steel announced plans last December to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. Earlier this year, President Joe Biden also came out against the acquisition. Tesla sank 1.6% after a judge in Delaware reaffirmed a previous ruling that the electric car maker must revoke Elon Musk’s multibillion-dollar pay package. The judge denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. All told, the S&P 500 rose 2.73 points to 6,049.88. The Dow fell 76.47 to 44,705.53, and the Nasdaq composite gained 76.96 to 19,480.91. In the bond market, Treasury yields held relatively steady after a report showed U.S. employers were advertising slightly more job openings at the end of October than a month earlier. Continued strength there would raise optimism that the economy could remain out of a recession that many investors had earlier worried was inevitable. The yield on the 10-year Treasury rose to 4.23% from 4.20% from late Monday. Yields have seesawed since Election Day amid worries that Trump’s preferences for lower tax rates and bigger tariffs could spur higher inflation along with economic growth. But traders are still confident the Federal Reserve will cut its main interest rate again at its next meeting in two weeks. They’re betting on a nearly three-in-four chance of that, according to data from CME Group. Lower rates can give the economy more juice, but they can also give inflation more fuel. The key report this week that could guide the Fed’s next move will arrive on Friday. It’s the monthly jobs report , which will show how many workers U.S. employers hired and fired during November. It could be difficult to parse given how much storms and strikes distorted figures in October. Based on trading in the options market, Friday’s jobs report appears to be the biggest potential market mover until the Fed announces its next decision on interest rates Dec. 18, according to strategists at Barclays Capital. In financial markets abroad, the value of South Korea’s currency fell 1.1% against the U.S. dollar following a frenetic night where President Yoon Suk Yeol declared martial law and then later said he’d lift it after lawmakers voted to reject military rule. Stocks of Korean companies that trade in the United States also fell, including a 1.6% drop for SK Telecom. Japan’s Nikkei 225 jumped 1.9% to help lead global markets. Some analysts think Japanese stocks could end up benefiting from Trump’s threats to raise tariffs , including for goods coming from China . Trade relations between the U.S. and China took another step backward after China said it is banning exports to the U.S. of gallium, germanium, antimony and other key high-tech materials with potential military applications. The counterpunch came swiftly after the U.S. Commerce Department expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity list” are nearly all based in China. In China, stock indexes rose 1% in Hong Kong and 0.4% in Shanghai amid unconfirmed reports that Chinese leaders would meet next week to discuss planning for the coming year. Investors are hoping it may bring fresh stimulus to help spur growth in the world’s second-largest economy. In France, the CAC 40 rose 0.3% amid continued worries about politics in Paris , where the government is battling over the budget. AP Business Writers Yuri Kageyama and Matt Ott contributed.
Topline President-elect Donald Trump’s lawyers have investigated one of his top advisers, Boris Epshteyn, over claims he sought payments from aspiring staffers in exchange for promoting them to Trump, according to multiple reports —allegations denied by Epshteyn, a longtime aide who has clashed with other members of the president-elect’s orbit. Key Facts Who Else Has Epshteyn Feuded With? Epshteyn has reportedly clashed with key Trump allies in recent weeks, including Treasury Secretary nominee Scott Bessent, transition team co-chair Howard Lutnick and billionaire Trump backer and informal adviser Elon Musk. Multiple outlets reported Musk has raised concerns about Epshteyn’s sway over Trump, and the two had a verbal altercation at Mar-A-Lago earlier this month, according to CNN and The Washington Post. CNN also reported Bessent was among those Epshteyn sought payment from, and the two also had an argument in the lobby of Mar-A-Lago last week, with Epshteyn raising his voice at Bessent. Lutnick reportedly tried to stop Ephsteyn from joining a recent transition team meeting at Mar-A-Lago, prompting Epshteyn to physically push Lutnick out of the way to enter the room, according to two unnamed sources familiar with the incident and cited by The Post, though a third unnamed source said Epshteyn simply brushed by Lutnick. Both declined to comment to The Post . A source close to them told the paper they “have been working closely together in assisting President Trump in putting together the greatest administration in American history.” Who Is Boris Epshteyn? A lawyer by training who was born in Russia and raised in the U.S., Epshteyn has been a figure in Trump’s orbit since his 2016 campaign, once described by Steve Bannon as Trump’s “wartime consigliere.” He was a key player in promoting Trump’s false claims that the 2020 electron was stolen from him and was charged in Arizona for his role in attempting to reverse Trump’s loss in the state. He pleaded not guilty in the case in June. Epshteyn served a stint as a special assistant to the president in 2017 and has since remained loyal to Trump, appearing alongside him in court in his New York hush money trial and reportedly overseeing some of Trump’s defense attorneys—in some cases clashing with Trump’s other lawyers. Since Trump’s victory, Epshteyn has reportedly advised him on cabinet picks, including advocating for former Rep. Matt Gaetz, R-Fla., as Trump’s initial pick for attorney general, according to CNN and The Post. Epshteyn’s Georgetown Advisory firm received $53,500 per month in payments for communications and legal consulting services from the Trump campaign this year, according to campaign finance records cited by CNN. Further Reading Giuliani Disbarred In D.C.: Here Are All The Other Ex-Trump Lawyers Now Facing Legal Consequences (Forbes) Trump’s Cabinet And Key Jobs: Trump Rounds Out Nominees—As RFK Jr., Hegseth Face Controversies (Forbes) Trump Allies—Including Giuliani And Mark Meadows—Will Face Arizona Criminal Trial In Jan. 2026 (Forbes)AP Trending SummaryBrief at 4:39 p.m. EST
Diversity statements will no longer be used in University of Michigan faculty hiring, promotion and tenure, a move applauded by critics who have called the practice "litmus tests" that limit diversity of thought while diversity advocates said the process was "preordained" and dishonest. Provost Laurie McCauley announced the decision Thursday based on a recommendation from a UM faculty working group to end diversity statements. But the recommendation is "deceptive," coming after the regents rejected a previous recommendation to keep the diversity statements, a faculty leader said. Diversity statements are documents written by faculty job candidates that let applicants explain to a search committee the distinct experiences they would bring to the university along with their commitment to diversity. The statements help search committees identify applicants "who have professional skills, experience and/or willingness to engage in activities that would enhance campus diversity and equity efforts," according to a University of California at San Diego statement referenced by UM's Center for Research on Learning & Teaching. McCauley's announcement came hours before the Board of Regents is scheduled to meet and a protest is planned beforehand at UM President Santa Ono's house. Many in the UM community are concerned the regents may dismantle a multimillion dollar diversity, equity and inclusion effort built after the school was at the center of a decade-long national debate around affirmative action in higher education, and DEI programs have been under attack across the nation.. "Diversity, equity and inclusion are three of our core values at the university," McCauley said in the University Record, an internal UM publication for faculty and staff, in announcing the end of diversity statements. "Our collective efforts in this area have produced important strides in opening opportunities for all people. As we pursue this challenging and complex work, we will continuously refine our approach.” But there is more that happened in this process, UM Faculty Senate Chair Rebekah Modrak wrote on the University Record page under the announcement. After the regents called for diversity statements to be banned last summer, McCauley formed a faculty committee to review diversity statements in the spirit of shared governance that came up with a different recommendation, Modrak wrote. "My understanding is that the committee’s first report recommended that the use of diversity statements should be up to each unit, a recommendation that honors our decentralization, independence, and academic freedom," Modrak wrote. "The Regents rejected that report and central leadership didn’t support their own faculty committee. Sending a committee back to work to give a second report with preordained results is neither honest nor respectful of faculty expertise. The University Record’s erasure of the Regents’ autocratic hand in this process is also deceptive." Regents will not vote on the provost's action, but may discuss it during the meeting, said Regent Sarah Hubbard, one of two Republicans on the eight-member UM board. "I applaud the provost for ending the practice of requiring diversity statements," said Hubbard. "This policy change removes a barrier to diversity of thought on campus by eliminating the ideological litmus test." No action is expected during Thursday's meeting around other DEI issues, added Hubbard, who previously said the regents have been looking for a long time at the university's DEI efforts and want to realign funds closer to student scholarships. Any budget decisions wouldn't happen until next year when budgetary decisions get made, she said. Even so, hundreds of students, faculty and staff demonstrated on campus earlier this week to show support for the university's DEI programs, and others are planning to attend the protest organized by UM's Black Student Union before the regents meeting and show up to the official meeting. UM's decision to discontinue diversity statements came after the statements were also eliminated in May at the Massachusetts Institute of Technology and in June at Harvard University’s Faculty of Arts and Sciences. In June, UM's provost charged the eight-member faculty working group to examine diversity statements, though the university did not have an institutional policy on the statements but units did have the discretion to ask for them. The working group recommended the end of the statements after reviewing other policies and surveying more than 2,000 faculty members. “Critics of diversity statements perceive them as expressions of personal identity traits, support of specific ideology or opinions on socially-relevant issues, and serve as a ‘litmus test’ of whether a faculty member’s views are politically acceptable,” the working group wrote in its report. “Thus, as currently enacted, diversity statements have the potential to limit viewpoints and reduce diversity of thought among faculty members.” The working group said it acknowledged the concerns. "But, well-written diversity statements do not necessarily require expression of one’s identity, and they need not express one's beliefs or stances on socially-charged issues," the working group wrote. "Instead, well-written diversity statements contain reflections of how identity has shaped a faculty member’s approach with their students, how they work with their colleagues, and how they interact with society. These are desirable features of current and future U-M faculty members, and this information should be considered when potential faculty are hired and current faculty are promoted." The work group also offered two other recommendations, including that the university "can and must" incorporate of content about DEI into teaching, research and service statements. "Through this incorporation, the problematic features of diversity statements can be eliminated, while the useful and necessary information that exists in diversity statements can be saved and placed where it more naturally belongs," the group wrote in its report. However, UM did not adopt those recommendations. UM's decision to discontinue diversity statements followed other steps the university has taken in recent months that supporters said will create an environment that expands diverse views on campus. They include the regents' controversial adoption last month of a policy on institutional neutrality that prohibits some officials from taking public stances on political and social issues not related to the internal governance of the university. Last month the Faculty Senate passed a resolution censuring the Board of Regents and accusing the regents of "increasingly exhibiting authoritarian tendencies, and silencing free speech. ©2024 The Detroit News. Visit detroitnews.com . Distributed by Tribune Content Agency, LLC.Tulisa snubs I’m A Celebrity spin-off after erasing show from her social media
The controversy around a religious Christmas sign that was taken down in downtown Kelowna continues. Two days after a sign stating 'Keep Christ in Christmas' was removed from the nativity scene display at Stuart Park, Kelowna-Centre MLA Kristina Loewen went to social media to express her opinion on the matter. "We believe that it's an important detail that Christmas is a Christian holiday," said Loewen in her video, referring to 'we' as all of the MLAs for the Central Okanagan. "We will be standing united and defending all British Columbians rights to religion and freedom of expression, speech, thought, belief," she added. "Canada is an incredible country full of diverse cultures and religions, and a wide variety of views, and I think that's one of the things that makes us so incredible." Kelowna-Lake Country-Coldstream MLA Tara Armstrong agreed with her fellow Conservative, quote-tweeting the video and saying "a great message from a colleague and friend. I'm proud to be part of a team that stands for what's right." Macklin McCall, MLA for West Kelowna, also quote-tweeted Loewen's post. However, Kelowna-Mission MLA Gavin Dew appears to not have commented on social media. The nativity scene is put up by the Knights of Columbus every year and a permit is given from the City of Kelowna to do so. When the 'Keep Christ in Christmas' sign was displayed beside the scene on Monday, Dec. 9, some people in the community, including the Kelowna Atheists, Skeptics, and Humanists Association (KASHA) took issue. A letter by KASHA to Black Press Media on Dec. 9, stated the nativity scene is part of Christmas, just as "lights, festive trees, and other decorative displays" are also. "This message is not merely festive—it is political, advocating for a specific religious interpretation of the holiday," said KASHA about the sign. The next day, the sign was taken down and the City of Kelowna confirmed that the sign was not part of the Knights of Columbus' permit for the nativity scene. The Knights of Columbus had no comment regarding the matter. Capital News reached out to Loewen for further comment but was met with an automatic e-mail reply. Additionally, the City of Kelowna stated it had no comment on Loewen's video. However, Ian Bushfield the executive director of the B.C. Humanist Association did have a comment. "Freedom of religion in Canada includes freedom from religion," said Bushfield in an e-mailed statement. "Ms. Loewen and all Christians are obviously free to celebrate Christmas as a Christian holiday but our governments have a clear duty of religious neutrality. That means neither endorsing nor prohibiting any religion over any other. That sign, and arguably even the nativity scene, being on public property breaches that duty. She can put the sign up at her church or at her own house but we do not live in a theocracy." Bushfield has previously stated that BCHA is an organization committed to secular values. “Part of that is the separation of religion and government," said Bushfield. The City of Kelowna also said it received five letters on the matter when the sign was up but none since it's been taken down.
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