Honda's F1 journey has been a remarkable one, beginning with its first victory at the Mexican Grand Prix in 1965 to its golden era entry as an engine supplier for Lotus and McLaren in the 1980s. The Japanese manufacturer is considered one of the most successful engine suppliers in history, an example of which powers one of the fastest F1 cars of all time , the Red Bull RB18. Although it has won multiple Constructors' Championships, the Japanese manufacturer withdrew from the F1 at the end of the 2021 season to devote its attention to becoming fully carbon-neutral by 2050, developing tech for fuel cell vehicles and EV batteries. Despite the withdrawal, Honda continues to provide engine units, alongside other current F1 engine suppliers like Mercedes, Ferrari, and Renault. Honda will return to F1 in 2026 as Aston Martin's works engine partner but has actually stopped supplying engines to F1 teams. Since 2021, Honda stopped supplying engine units to teams but continues its relationship with F1 through power unit assembly support and race operations at circuits. The brand continues to provide RA Series Hybrid engine support to Red Bull Racing and AlphaTauri (formerly Toro Rosso) teams until the end of 2025. After dropping Renault's technology and partnering with Honda, Red Bull Racing saw multiple wins. Max Verstappen, one of the top F1 drivers , became Driver's Champion with up to 10 wins out of 22 races with the Red Bull RB16B, which had Honda's RA621H engine. With the introduction of 10% Ethanol Biofuel and a few tweaks, power climbed to 1,040 hp, leading Honda to consecutive Constructors' and drivers' awards. In 2023, Red Bull Racing achieved a first and second finish in the World Drivers' Championship, as well as a fourth-place finish in the 2024 championship. After the McLaren-Honda partnership ended in 2017, Honda partnered with AlphaTauri for the 2018 Season. The Japanese brand supplied an RA618H engine — a successor to the RA617H in the McLaren MCL32 –to power the STR13. This led AlphaTauri to many wins, including a podium and sixth place in the constructors' championship in 2019, and Pierre Gasly's surprise victory at the 2020 Italian Grand Prix. These Honda F1 engines are a series of hybrid powertrains that pair a 1.6-liter turbocharged V6 with an electric motor. These engines feature a heat recovery system (MGU-H) and a kinetic energy recovery system (MGU-K), which allows Honda to essentially extract energy in exhaust gases and braking systems. This engine has been in use since 2015 when the RA615H unit powered the McLaren MP4-30. Since then, the RA series engines have undergone improvements, including the introduction of a new split turbo architecture and U and energy store architecture. All new turbo-hybrid F1 engines kick out at least 1,000 horsepower while remaining under the 100 kilogram per hour strict fuel flow regulations. After parting ways with Mercedes , Aston Martin will partner with Honda in 2026, making the Japanese brand's return. F1's recent regulations see a shift towards more sustainable power units, requiring cars to run on fully sustainable fuels, which already aligns with Honda's goals. This means the MGU-K in the current V6 hybrid engine will work to generate more electric power by 2026.
Trump wants pardoned real estate developer Charles Kushner to be ambassador to FranceNone
This IT tycoon built his company from a one-bedroom apartment, now Bengaluru’s 5th richest person, he pays millions to his CEO, he has a net worth of Rs...JACKSONVILLE, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ-LSTR), a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation logistics services, announced that on December 9, 2024, its Board of Directors has declared a special one-time cash dividend in the amount of $2.00 per share, payable on January 21, 2025, to stockholders of record as of the close of business on January 7, 2025. "Landstar's strong balance sheet and free cash flow generation enable us to continue to return value to our stockholders,” said Landstar President and Chief Executive Officer Frank Lonegro. The Company purchased a total of 452,019 shares of its common stock at an aggregate cost of approximately $82.1 million during the first 11 months of its 2024 fiscal year. The Company also returned $120.5 million to stockholders in the form of cash dividends paid on shares of its common stock during the 2024 fiscal year. As previously reported, as of September 28, 2024, the Company had $531 million in cash and short-term investments. The Company intends to continue to use its available free cash flow to opportunistically purchase its stock under its stock purchase program. About Landstar: Landstar System, Inc., is a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity providers and employees. Landstar transportation services companies are certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market® under the symbol LSTR. Forward Looking Statements Disclaimer: The following is a "safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are "forward-looking statements.” This press release contains forward-looking statements, such as statements which relate to Landstar's business objectives, plans, strategies and expectations. Terms such as "anticipates,” "believes,” "estimates,” "intention,” "expects,” "plans,” "predicts,” "may,” "should,” "could,” "will,” the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: an increase in the frequency or severity of accidents or other claims; unfavorable development of existing accident claims; dependence on third party insurance companies; dependence on independent commission sales agents; dependence on third party capacity providers; the impact of the Russian conflict with Ukraine on the operations of certain independent commission sales agents, including the Company's largest such agent by revenue in the 2023 fiscal year; decreased demand for transportation services; U.S. trade relationships; substantial industry competition; disruptions or failures in the Company's computer systems; cyber and other information security incidents; dependence on key vendors; potential changes in taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; regulations requiring the purchase and use of zero-emission vehicles; intellectual property; and other operational, financial or legal risks or uncertainties detailed in Landstar's Form 10-K for the 2023 fiscal year, described in Item 1A Risk Factors, and in other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements. CONTACT: Contact: Jim Todd Landstar System, Inc. 904-398-9400
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Syrians poured into streets in celebration on Sunday after a stunning rebel advance reached the capital, ending the Assad family’s 50 years of iron rule . Russian state news agencies were reporting that President Bashar Assad and his family had arrived in Moscow and were given asylum. Russia said Assad left the country after negotiations with rebel groups and that he had given instructions to transfer power peacefully. Joyful crowds gathered in central squares in Damascus, waving the Syrian revolutionary flag. Others ransacked the presidential palace and residence. Abu Mohammed al-Golani , a former al-Qaida commander who cut ties with the group years ago leads the biggest rebel faction in Syria and is poised to chart the country’s future. He made his first public appearance since fighters entered the Damascus suburbs Saturday, at the capital’s sprawling Umayyad Mosque, and called himself by his given name, Ahmad al-Sharaa. He said Assad’s fall was “a victory to the Islamic nation.” The rapidly developing events have shaken the region. Lebanon said it was closing all its land border crossings with Syria except for one that links Beirut with Damascus. Jordan closed a border crossing with Syria, too. Israel has issued warnings to villages in southern Syria and its forces seized a buffer zone in the Golan Heights. Here's the Latest: The Israeli military said on Sunday it was reinforcing a barrier along its border with Syria as part of its “enhanced preparedness” in the area following the fall of the Assad regime. Israel released images of the construction, which showed bulldozers digging what appeared to be a trench. The army said in a statement that the barrier was named “New East.” Satellite images analyzed by The Associated Press show that as early as September, Israel began building what could be a new road right along the so-called Alpha Line that separates the Israeli-occupied Golan Heights from Syria . The United Nations confirmed that Israeli troops entered the demilitarized zone during the work. Over the weekend, the Israeli military sent additional troops to the Israeli-annexed Golan Heights to bolster Israel’s presence along the border with Syria. Russian state news agencies reported that ousted Syrian President Bashar Assad has arrived in Moscow with his family and been given asylum. The agencies, Tass and RIA, cited an unidentified Kremlin source. The Associated Press was not immediately able to verify the reports but had contacted the Kremlin for comment. CAIRO — The Arab League on Sunday condemned Israel for taking advantage of Syrian President Bashar Assad's downfall by moving into more Syrian territory. Hours after Assad’s overthrow, Israel announced it had seized a buffer zone in the Golan Heights that was established by a cease-fire agreement with Syria in 1974. In a statement, the Arab League said Israel illegally sought to occupy more territories. But Israeli Prime Minister Benjamin Netanyahu said the 50-year-old agreement regarding Syrian territory had collapsed and that Syrian troops had abandoned their positions, necessitating Israel taking over as a “temporary defensive position.” UNITED NATIONS — The United Nations secretary-general is marking the “fall of the dictatorial regime” in Syria and says the future of the country is “is a matter for the Syrians to determine.” A statement by Antonio Guterres also called for calm and the protection of the rights of all Syrians as well as of diplomatic and consular facilities in Syria. He said there is much work ahead to ensure an “orderly political transition to renewed institutions,” and he called on the international community to ensure that “any political transition is inclusive and comprehensive and that it meets the legitimate aspirations of the people of Syria, in all their diversity.” KYIV, Ukraine - Ukraine’s top diplomat on Sunday responded to Assad’s ouster by describing him as a “dictator” who relied on Russia to prop up his rule - a reference to the military campaign Moscow has waged in Syria since September 2015, teaming up with Iran to allow Assad’s government to fight armed opposition groups and reclaim control over most of the country. "Assad has fallen. This has always been and will be the case with all dictators who bet on Putin. He always betrays those who rely on him,” foreign minister Andrii Sybiha said in a post on X. In a separate update on the social network, Sybiha said Kyiv was ready to take steps towards restoring relations with Syria, severed months into Russia’s full-scale invasion of the neighboring state. Kyiv broke off diplomatic ties after Damascus in June 2022 recognized Kremlin-occupied parts of eastern Ukraine as independent territories, in a move welcomed by Moscow and decried by the West as a clear violation of Ukrainian sovereignty. JERUSALEM — The Israeli military has issued a warning to residents of five villages and towns in southern Syria to stay inside their homes for their safety. “The fighting in your area is forcing the IDF to act,” the IDF’s Arabic-language spokesman said on X. The military didn’t respond to questions. Earlier, Israel said its troops had seized a buffer zone in the Golan Heights established in 1974, saying it was to protect Israeli residents after Syrian troops abandoned their positions. Defense Minister Israel Katz said on X that the IDF has been instructed to “seize the buffer zone and control points to ensure the protection of all Israeli communities in the Golan Heights – Jewish and Druze – so that they are not exposed to threats from the other side.” Israel captured the Golan in the 1967 Mideast war and later annexed it. The international community, except for the United States, views it as occupied. BEIRUT - The leader of the largest insurgent group in Syria visited the Syrian capital’s sprawling Umayyad Mosque and declared that the victory against President Bashar Assad “is a victory to the Islamic nation.” Ahmad al-Sharaa, who was formerly known as Abu Mohammed al-Golani, made his first public appearance and remarks since fighters entered Damascus. He told hundreds of people at the historic mosque that Assad had made Syria “a farm for Iran’s greed.” He added that Assad made Syria a base for the illegal amphetamine Captagon that brought cash to Assad’s circles. Al-Sharaa, the leader of the jihadi Hayat Tahrir al-Sham, or HTS, said Sunday that the victory was achieved because of “God and the blood of martyrs.” He said that he left Syria 20 years ago and since then his heart has longed for this movement. AMMAN, Jordan — The vast majority of the Jordanian people are welcoming the fall of Bashar al-Assad’s regime and the success of the Syrian revolution. “There is no doubt that I felt overwhelming joy at the fall of the Assad regime," said Badi Al-Rafaia, Engineer, union activist and member of the Islamic Action Front. "There is no doubt that we are happy with what happened in Syria, happy with the success of the revolution, happy with the Syrian people getting rid of an oppressor and criminal who treated the Syrian people and made the Syrian state a failed state.” Al-Rafaia said that Jordan is benefiting from what happened in Syria, and "we hope that Jordan will help the revolution succeed and not work against it.” Amman resident Muhab al-Majali said the fall of the Assad regime is “The end of every unjust and tyrannical rule, and more than that, it mortgaged the country and its people to the Iranians, who abandoned it in minutes... I believe that the future is beautiful and prosperous for the Syrians.” BERLIN — The International Committee of the Red Cross is calling for safe humanitarian access and protection of civilians in Syria after the fall of Bashir Assad’s government. “Our teams in Syria, including in Damascus, have been closely monitoring the fast-evolving security and humanitarian situation in coordination with the Syrian Arab Red Crescent,” the ICRC’s head of delegation in Syria, Stephan Sakalian, said in a written statement Sunday. The ICRC is “responding wherever possible, with further efforts underway, as hundreds of thousands of people need care and humanitarian assistance,” he said. Sakalian called “on all parties to urgently enable safe and unhindered access for medical and humanitarian workers to reach those in need, to protect civilians, and to uphold their obligations under international humanitarian law.” BAGHDAD — The Iraqi government said in a statement Sunday that it “supports all international and regional efforts seeking to open a dialogue” for Syria “leading to the adoption of a pluralistic constitution that preserves the human and civil rights of Syrians, and supports cultural, ethnic and religious diversity.” The statement from government spokesperson Bassem al-Awadi, said that Iraq understands “the necessity of respecting the free will of all Syrians, and stresses that the security of Syria, the unity of its territories, and the preservation of its independence are of utmost importance, not only for Iraq but also for its connection to the security and stability of the region.” It cautioned against “interfering in Syria’s internal affairs, or supporting one party for the benefit of another.” Iraq, which has a close relationship with Iran - once a strong ally of former Syrian President Bashar Assad - has taken in some 2,000 Syrian army soldiers who fled the country amid the advance of armed opposition groups. CAIRO — The head of Yemen’s internationally recognized government welcomed the fall of the government of President Bashar Assad of Syria. “It’s a historic moment,” Rashad al-Alimi, who chairs the ruling presidential council, wrote on X platform of Assad’s downfall. “It’s time for the Iranian regime to stop meddling in Yemen, respect its sovereignty and identity.” Al-Alimi, who is backed by Saudi Arabia, was referring to Iran’s support of Houthi rebels who are at war with Yemen’s internationally recognized government for a decade. DAMASCUS — Families wandered through the high-ceilinged halls of the presidential palace in Damascus on Sunday, along with some armed men. Some paused to take family portraits or selfies on the few remaining couches against the backdrop of mosaiced walls, while others walked out with chairs and other items under their arms. On the massive parking lot out front, cars drove in circles honking ecstatically. In central Damascus’ Umayyad Square, drivers passing by also honked jubilantly, while young men piled onto a tank abandoned in the square. But for some the celebration was bittersweet. “I am very happy, but this happiness will not be completed until I can see my son out of the prison and know where is he is,” said Damascus resident Bassam Masr. “I have been searching for him for two hours - he has been detained for 13 years.” TEL AVIV, Israel – Israeli Prime Minister Benjamin Netanyahu said on Sunday that Israeli forces have seized a buffer zone in the Golan Heights established by a 1974 ceasefire agreement with Syria. He spoke from an overlook near the border between Syria and the Israeli-annexed Golan Heights, after Syrian rebels tore through the country and dramatically ended Assad’s rule on Sunday morning. Netanyahu said the 50-year-old agreement had collapsed and that Syrian troops had abandoned their positions, necessitating the Israeli takeover as a “temporary defensive position.” Israel captured the Golan Heights in the 1967 Mideast war and annexed it. The international community, except for the United States, views it as occupied Syrian territory. Satellite images analyzed by the Associated Press show that as early as September, Israel began construction of what could possibly be a new road right along the so-called Alpha Line that separates the Israeli-occupied Golan Heights from Syria . The United Nations confirmed that Israeli troops entered the demilitarized zone during the work. The United Nations maintains a peacekeeping force in the demilitarized zone called the United Nations Disengagement Observer Force, or UNDOF, with around 1,100 peacekeepers from Fiji, India, Kazakhstan, Nepal, and Uruguay. After the 1973 Mideast war, the U.N. Secretary Council voted to create UNDOF to patrol a roughly 400 square kilometer (155 square mile) demilitarized zone and maintain the peace there. DAMASCUS, Syria — An Associated Press journalist in Damascus reported airstrikes in the area of the Mezzeh military airport, southwest of the capital Sunday. The airport has previously been targeted in Israeli airstrikes, but it was not immediately clear who launched Sunday's strike. The Israeli military refused to comment on the airport strike. Israel often does not publicly claim responsibility for attacks in Syria. The Syrian Observatory for Human Rights, a UK-based war monitor, reported that Israeli warplanes also targeted warehouses belonging to the Syrian army’s Fourth Division and another former military site outside of Damascus Sunday. On Saturday and Sunday, the Israeli military sent additional troops to the Israeli-annexed Golan Heights to bolster Israel’s presence along the border between Israel and Syria. Agricultural areas along the border were declared closed military zones and some schools shifted to online classes in anticipation of unrest.WEST PALM BEACH, Fla. — President-elect Donald Trump said Saturday that he wants real estate developer Charles Kushner , father of Trump’s son-in-law Jared Kushner, to serve as ambassador to France. Trump made the announcement in a Truth Social post, calling Charles Kushner “a tremendous business leader, philanthropist, & dealmaker." Kushner is the founder of Kushner Companies, a real estate firm. Jared Kushner is a former White House senior adviser to Trump who is married to Trump’s eldest daughter, Ivanka. The elder Kushner was pardoned by Trump in December 2020 after pleading guilty years earlier to tax evasion and making illegal campaign donations. People are also reading... Charles Kushner arrives July 20, 2022, for the funeral of Ivana Trump in New York. Prosecutors alleged that after Charles Kushner discovered his brother-in-law was cooperating with federal authorities in an investigation, he hatched a scheme for revenge and intimidation. Kushner hired a prostitute to lure his brother-in-law, then arranged to have the encounter in a New Jersey motel room recorded with a hidden camera and the recording sent to Kushner's own sister, the man’s wife, prosecutors said. Kushner eventually pleaded guilty to 18 counts including tax evasion and witness tampering. He was sentenced in 2005 to two years in prison — the most he could receive under a plea deal, but less than what Chris Christie, the U.S. attorney for New Jersey at the time and later governor and Republican presidential candidate, sought. Christie blamed Jared Kushner for his firing from Trump’s transition team in 2016, and called Charles Kushner’s offenses “one of the most loathsome, disgusting crimes that I prosecuted when I was U.S. attorney.” Trump and the elder Kushner knew each other from real estate circles and their children were married in 2009. Here are the people Trump has picked for key positions so far President-elect Donald Trump Among President-elect Donald Trump's picks are Susie Wiles for chief of staff, Florida Sen. Marco Rubio for secretary of state, former Democratic House member Tulsi Gabbard for director of national intelligence and Florida Rep. Matt Gaetz for attorney general. Susie Wiles, White House Chief of Staff Susie Wiles, 67, was a senior adviser to Trump's 2024 presidential campaign and its de facto manager. Marco Rubio, Secretary of State Trump named Florida Sen. Marco Rubio to be secretary of state, making a former sharp critic his choice to be the new administration's top diplomat. Rubio, 53, is a noted hawk on China, Cuba and Iran, and was a finalist to be Trump's running mate on the Republican ticket last summer. Rubio is the vice chairman of the Senate Intelligence Committee and a member of the Senate Foreign Relations Committee. “He will be a strong Advocate for our Nation, a true friend to our Allies, and a fearless Warrior who will never back down to our adversaries,” Trump said of Rubio in a statement. The announcement punctuates the hard pivot Rubio has made with Trump, whom the senator called a “con man" during his unsuccessful campaign for the 2016 GOP presidential nomination. Their relationship improved dramatically while Trump was in the White House. And as Trump campaigned for the presidency a third time, Rubio cheered his proposals. For instance, Rubio, who more than a decade ago helped craft immigration legislation that included a path to citizenship for people in the U.S. illegally, now supports Trump's plan to use the U.S. military for mass deportations. Pete Hegseth, Secretary of Defense Pete Hegseth, 44, is a co-host of Fox News Channel’s “Fox & Friends Weekend” and has been a contributor with the network since 2014, where he developed a friendship with Trump, who made regular appearances on the show. Hegseth lacks senior military or national security experience. If confirmed by the Senate, he would inherit the top job during a series of global crises — ranging from Russia’s war in Ukraine and the ongoing attacks in the Middle East by Iranian proxies to the push for a cease-fire between Israel, Hamas and Hezbollah and escalating worries about the growing alliance between Russia and North Korea. Hegseth is also the author of “The War on Warriors: Behind the Betrayal of the Men Who Keep Us Free,” published earlier this year. Pam Bondi, Attorney General Trump tapped Pam Bondi, 59, to be attorney general after U.S. Rep. Matt Gaetz withdrew his name from consideration. She was Florida's first female attorney general, serving between 2011 and 2019. She also was on Trump’s legal team during his first impeachment trial in 2020. Considered a loyalist, she served as part of a Trump-allied outside group that helped lay the groundwork for his future administration called the America First Policy Institute. Bondi was among a group of Republicans who showed up to support Trump at his hush money criminal trial in New York that ended in May with a conviction on 34 felony counts. A fierce defender of Trump, she also frequently appears on Fox News and has been a critic of the criminal cases against him. Kristi Noem, Secretary of Homeland Security Trump picked South Dakota Gov. Kristi Noem, a well-known conservative who faced sharp criticism for telling a story in her memoir about shooting a rambunctious dog, to lead an agency crucial to the president-elect’s hardline immigration agenda. Noem used her two terms leading a tiny state to vault to a prominent position in Republican politics. South Dakota is usually a political afterthought. But during the COVID-19 pandemic, Noem did not order restrictions that other states had issued and instead declared her state “open for business.” Trump held a fireworks rally at Mount Rushmore in July 2020 in one of the first large gatherings of the pandemic. She takes over a department with a sprawling mission. In addition to key immigration agencies, the Department of Homeland Security oversees natural disaster response, the U.S. Secret Service, and Transportation Security Administration agents who work at airports. Doug Burgum, Secretary of the Interior The governor of North Dakota, who was once little-known outside his state, Burgum is a former Republican presidential primary contender who endorsed Trump, and spent months traveling to drum up support for him, after dropping out of the race. Burgum was a serious contender to be Trump’s vice presidential choice this summer. The two-term governor was seen as a possible pick because of his executive experience and business savvy. Burgum also has close ties to deep-pocketed energy industry CEOs. Trump made the announcement about Burgum joining his incoming administration while addressing a gala at his Mar-a-Lago club, and said a formal statement would be coming the following day. In comments to reporters before Trump took the stage, Burgum said that, in recent years, the power grid is deteriorating in many parts of the country, which he said could raise national security concerns but also drive up prices enough to increase inflation. “There's just a sense of urgency, and a sense of understanding in the Trump administration,” Burgum said. Robert F. Kennedy Jr., Secretary of Health and Human Services Robert F. Kennedy Jr. ran for president as a Democrat, than as an independent, and then endorsed Trump . He's the son of Democratic icon Robert Kennedy, who was assassinated during his own presidential campaign. The nomination of Kennedy to lead the Department of Health and Human Services alarmed people who are concerned about his record of spreading unfounded fears about vaccines . For example, he has long advanced the debunked idea that vaccines cause autism. Scott Bessent, Treasury Secretary Scott Bessent, 62, is a former George Soros money manager and an advocate for deficit reduction. He's the founder of hedge fund Key Square Capital Management, after having worked on-and-off for Soros Fund Management since 1991. If confirmed by the Senate, he would be the nation’s first openly gay treasury secretary. He told Bloomberg in August that he decided to join Trump’s campaign in part to attack the mounting U.S. national debt. That would include slashing government programs and other spending. “This election cycle is the last chance for the U.S. to grow our way out of this mountain of debt without becoming a sort of European-style socialist democracy,” he said then. Lori Chavez-DeRemer, Labor Secretary Oregon Republican U.S. Rep. Lori Chavez-DeRemer narrowly lost her reelection bid this month, but received strong backing from union members in her district. As a potential labor secretary, she would oversee the Labor Department’s workforce, its budget and put forth priorities that impact workers’ wages, health and safety, ability to unionize, and employer’s rights to fire employers, among other responsibilities. Chavez-DeRemer is one of few House Republicans to endorse the “Protecting the Right to Organize” or PRO Act would allow more workers to conduct organizing campaigns and would add penalties for companies that violate workers’ rights. The act would also weaken “right-to-work” laws that allow employees in more than half the states to avoid participating in or paying dues to unions that represent workers at their places of employment. Scott Turner, Housing and Urban Development Scott Turner is a former NFL player and White House aide. He ran the White House Opportunity and Revitalization Council during Trump’s first term in office. Trump, in a statement, credited Turner, the highest-ranking Black person he’s yet selected for his administration, with “helping to lead an Unprecedented Effort that Transformed our Country’s most distressed communities.” Sean Duffy, Secretary of Transportation Sean Duffy is a former House member from Wisconsin who was one of Trump's most visible defenders on cable news. Duffy served in the House for nearly nine years, sitting on the Financial Services Committee and chairing the subcommittee on insurance and housing. He left Congress in 2019 for a TV career and has been the host of “The Bottom Line” on Fox Business. Before entering politics, Duffy was a reality TV star on MTV, where he met his wife, “Fox and Friends Weekend” co-host Rachel Campos-Duffy. They have nine children. Chris Wright, Secretary of Energy A campaign donor and CEO of Denver-based Liberty Energy, Write is a vocal advocate of oil and gas development, including fracking — a key pillar of Trump’s quest to achieve U.S. “energy dominance” in the global market. Wright also has been one of the industry’s loudest voices against efforts to fight climate change. He said the climate movement around the world is “collapsing under its own weight.” The Energy Department is responsible for advancing energy, environmental and nuclear security of the United States. Wright also won support from influential conservatives, including oil and gas tycoon Harold Hamm. Hamm, executive chairman of Oklahoma-based Continental Resources, a major shale oil company, is a longtime Trump supporter and adviser who played a key role on energy issues in Trump’s first term. Linda McMahon, Secretary of Education President-elect Donald Trump tapped billionaire professional wrestling mogul Linda McMahon to be secretary of the Education Department, tasked with overseeing an agency Trump promised to dismantle. McMahon led the Small Business Administration during Trump’s initial term from 2017 to 2019 and twice ran unsuccessfully as a Republican for the U.S. Senate in Connecticut. She’s seen as a relative unknown in education circles, though she expressed support for charter schools and school choice. She served on the Connecticut Board of Education for a year starting in 2009 and has spent years on the board of trustees for Sacred Heart University in Connecticut. Brooke Rollins, Secretary of Agriculture Brooke Rollins, who graduated from Texas A&M University with a degree in agricultural development, is a longtime Trump associate who served as White House domestic policy chief during his first presidency. The 52-year-old is president and CEO of the America First Policy Institute, a group helping to lay the groundwork for a second Trump administration. She previously served as an aide to former Texas Gov. Rick Perry and ran a think tank, the Texas Public Policy Foundation. Howard Lutnick, Secretary of Commerce Trump chose Howard Lutnick, head of brokerage and investment bank Cantor Fitzgerald and a cryptocurrency enthusiast, as his nominee for commerce secretary, a position in which he'd have a key role in carrying out Trump's plans to raise and enforce tariffs. Trump made the announcement Tuesday on his social media platform, Truth Social. Lutnick is a co-chair of Trump’s transition team, along with Linda McMahon, the former wrestling executive who previously led Trump’s Small Business Administration. Both are tasked with putting forward candidates for key roles in the next administration. The nomination would put Lutnick in charge of a sprawling Cabinet agency that is involved in funding new computer chip factories, imposing trade restrictions, releasing economic data and monitoring the weather. It is also a position in which connections to CEOs and the wider business community are crucial. Doug Collins, Secretary of Veterans Affairs Doug Collins is a former Republican congressman from Georgia who gained recognition for defending Trump during his first impeachment trial, which centered on U.S. assistance for Ukraine. Trump was impeached for urging Ukraine to investigate Joe Biden in 2019 during the Democratic presidential nomination, but he was acquitted by the Senate. Collins has also served in the armed forces himself and is currently a chaplain in the United States Air Force Reserve Command. "We must take care of our brave men and women in uniform, and Doug will be a great advocate for our Active Duty Servicemembers, Veterans, and Military Families to ensure they have the support they need," Trump said in a statement about nominating Collins to lead the Department of Veterans Affairs. Karoline Leavitt, White House press secretary Karoline Leavitt, 27, was Trump's campaign press secretary and currently a spokesperson for his transition. She would be the youngest White House press secretary in history. The White House press secretary typically serves as the public face of the administration and historically has held daily briefings for the press corps. Leavitt, a New Hampshire native, was a spokesperson for MAGA Inc., a super PAC supporting Trump, before joining his 2024 campaign. In 2022, she ran for Congress in New Hampshire, winning a 10-way Republican primary before losing to Democratic Rep. Chris Pappas. Leavitt worked in the White House press office during Trump's first term before she became communications director for New York Republican Rep. Elise Stefanik, Trump's choice for U.S. ambassador to the United Nations. Tulsi Gabbard, National Intelligence Director Former Hawaii Rep. Tulsi Gabbard has been tapped by Trump to be director of national intelligence, keeping with the trend to stock his Cabinet with loyal personalities rather than veteran professionals in their requisite fields. Gabbard, 43, was a Democratic House member who unsuccessfully sought the party's 2020 presidential nomination before leaving the party in 2022. She endorsed Trump in August and campaigned often with him this fall. “I know Tulsi will bring the fearless spirit that has defined her illustrious career to our Intelligence Community,” Trump said in a statement. Gabbard, who has served in the Army National Guard for more than two decades, deploying to Iraq and Kuwait, would come to the role as somewhat of an outsider compared to her predecessor. The current director, Avril Haines, was confirmed by the Senate in 2021 following several years in a number of top national security and intelligence positions. John Ratcliffe, Central Intelligence Agency Director Trump has picked John Ratcliffe, a former Texas congressman who served as director of national intelligence during his first administration, to be director of the Central Intelligence Agency in his next. Ratcliffe was director of national intelligence during the final year and a half of Trump's first term, leading the U.S. government's spy agencies during the coronavirus pandemic. “I look forward to John being the first person ever to serve in both of our Nation's highest Intelligence positions,” Trump said in a statement, calling him a “fearless fighter for the Constitutional Rights of all Americans” who would ensure “the Highest Levels of National Security, and PEACE THROUGH STRENGTH.” Lee Zeldin, Environmental Protection Agency Administrator Trump has chosen former New York Rep. Lee Zeldin to serve as his pick to lead the Environmental Protection Agency . Zeldin does not appear to have any experience in environmental issues, but is a longtime supporter of the former president. The 44-year-old former U.S. House member from New York wrote on X , “We will restore US energy dominance, revitalize our auto industry to bring back American jobs, and make the US the global leader of AI.” “We will do so while protecting access to clean air and water,” he added. During his campaign, Trump often attacked the Biden administration's promotion of electric vehicles, and incorrectly referring to a tax credit for EV purchases as a government mandate. Trump also often told his audiences during the campaign his administration would “Drill, baby, drill,” referring to his support for expanded petroleum exploration. In a statement, Trump said Zeldin “will ensure fair and swift deregulatory decisions that will be enacted in a way to unleash the power of American businesses, while at the same time maintaining the highest environmental standards, including the cleanest air and water on the planet.” Brendan Carr, Chairman of the Federal Communications Commission Trump has named Brendan Carr, the senior Republican on the Federal Communications Commission, as the new chairman of the agency tasked with regulating broadcasting, telecommunications and broadband. Carr is a longtime member of the commission and served previously as the FCC’s general counsel. He has been unanimously confirmed by the Senate three times and was nominated by both Trump and President Joe Biden to the commission. Carr made past appearances on “Fox News Channel," including when he decried Democratic Vice President Kamala Harris' pre-Election Day appearance on “Saturday Night Live.” He wrote an op-ed last month defending a satellite company owned by Trump supporter Elon Musk. Elise Stefanik, Ambassador to the United Nations Rep. Elise Stefanik is a representative from New York and one of Trump's staunchest defenders going back to his first impeachment. Elected to the House in 2014, Stefanik was selected by her GOP House colleagues as House Republican Conference chair in 2021, when former Wyoming Rep. Liz Cheney was removed from the post after publicly criticizing Trump for falsely claiming he won the 2020 election. Stefanik, 40, has served in that role ever since as the third-ranking member of House leadership. Stefanik’s questioning of university presidents over antisemitism on their campuses helped lead to two of those presidents resigning, further raising her national profile. If confirmed, she would represent American interests at the U.N. as Trump vows to end the war waged by Russia against Ukraine begun in 2022. He has also called for peace as Israel continues its offensive against Hamas in Gaza and its invasion of Lebanon to target Hezbollah. Matt Whitaker, Ambassador to NATO President-elect Donald Trump says he's chosen former acting Attorney General Matt Whitaker to serve as U.S. ambassador to NATO. Trump has expressed skepticism about the Western military alliance for years. Trump said in a statement Wednesday that Whitaker is “a strong warrior and loyal Patriot” who “will ensure the United States’ interests are advanced and defended” and “strengthen relationships with our NATO Allies, and stand firm in the face of threats to Peace and Stability.” The choice of Whitaker as the nation’s representative to the North Atlantic Treaty Organization is an unusual one, given his background is as a lawyer and not in foreign policy. Pete Hoekstra, Ambassador to Canada A Republican congressman from Michigan who served from 1993 to 2011, Hoekstra was ambassador to the Netherlands during Trump's first term. “In my Second Term, Pete will help me once again put AMERICA FIRST,” Trump said in a statement announcing his choice. “He did an outstanding job as United States Ambassador to the Netherlands during our first four years, and I am confident that he will continue to represent our Country well in this new role.” Mike Huckabee, Ambassador to Israel Trump will nominate former Arkansas Gov. Mike Huckabee to be ambassador to Israel. Huckabee is a staunch defender of Israel and his intended nomination comes as Trump has promised to align U.S. foreign policy more closely with Israel's interests as it wages wars against the Iran-backed Hamas and Hezbollah. “He loves Israel, and likewise the people of Israel love him,” Trump said in a statement. “Mike will work tirelessly to bring about peace in the Middle East.” Huckabee, who ran unsuccessfully for the Republican presidential nomination in 2008 and 2016, has been a popular figure among evangelical Christian conservatives, many of whom support Israel due to Old Testament writings that Jews are God’s chosen people and that Israel is their rightful homeland. Trump has been praised by some in this important Republican voting bloc for moving the U.S. embassy in Israel from Tel Aviv to Jerusalem. Steven Witkoff, Special Envoy to the Middle East Trump on Tuesday named real estate investor Steven Witkoff to be special envoy to the Middle East. The 67-year-old Witkoff is the president-elect's golf partner and was golfing with him at Trump's club in West Palm Beach, Florida, on Sept. 15, when the former president was the target of a second attempted assassination. Witkoff “is a Highly Respected Leader in Business and Philanthropy,” Trump said of Witkoff in a statement. “Steve will be an unrelenting Voice for PEACE, and make us all proud." Trump also named Witkoff co-chair, with former Georgia Sen. Kelly Loeffler, of his inaugural committee. Keith Kellogg, Special Envoy for Ukraine and Russia Trump said Wednesday that he will nominate Gen. Keith Kellogg to serve as assistant to the president and special envoy for Ukraine and Russia. Kellogg, a retired Army lieutenant general who has long been Trump’s top adviser on defense issues, served as National Security Advisor to Trump's former Vice President Mike Pence. For the America First Policy Institute, one of several groups formed after Trump left office to help lay the groundwork for the next Republican administration, Kellogg in April wrote that “bringing the Russia-Ukraine war to a close will require strong, America First leadership to deliver a peace deal and immediately end the hostilities between the two warring parties.” (AP Photo/Mariam Zuhaib) Mike Waltz, National Security Adviser Trump asked Rep. Michael Waltz, R-Fla., a retired Army National Guard officer and war veteran, to be his national security adviser, Trump announced in a statement Tuesday. The move puts Waltz in the middle of national security crises, ranging from efforts to provide weapons to Ukraine and worries about the growing alliance between Russia and North Korea to the persistent attacks in the Middle East by Iran proxies and the push for a cease-fire between Israel and Hamas and Hezbollah. “Mike has been a strong champion of my America First Foreign Policy agenda,” Trump's statement said, "and will be a tremendous champion of our pursuit of Peace through Strength!” Waltz is a three-term GOP congressman from east-central Florida. He served multiple tours in Afghanistan and also worked in the Pentagon as a policy adviser when Donald Rumsfeld and Robert Gates were defense chiefs. He is considered hawkish on China, and called for a U.S. boycott of the 2022 Winter Olympics in Beijing due to its involvement in the origin of COVID-19 and its mistreatment of the minority Muslim Uighur population. Stephen Miller, Deputy Chief of Staff for Policy Stephen Miller, an immigration hardliner , was a vocal spokesperson during the presidential campaign for Trump's priority of mass deportations. The 39-year-old was a senior adviser during Trump's first administration. Miller has been a central figure in some of Trump's policy decisions, notably his move to separate thousands of immigrant families. Trump argued throughout the campaign that the nation's economic, national security and social priorities could be met by deporting people who are in the United States illegally. Since Trump left office in 2021, Miller has served as the president of America First Legal, an organization made up of former Trump advisers aimed at challenging the Biden administration, media companies, universities and others over issues such as free speech and national security. Tom Homan, ‘Border Czar’ Thomas Homan, 62, has been tasked with Trump’s top priority of carrying out the largest deportation operation in the nation’s history. Homan, who served under Trump in his first administration leading U.S. Immigration and Customs Enforcement, was widely expected to be offered a position related to the border, an issue Trump made central to his campaign. Though Homan has insisted such a massive undertaking would be humane, he has long been a loyal supporter of Trump's policy proposals, suggesting at a July conference in Washington that he would be willing to "run the biggest deportation operation this country’s ever seen.” Democrats have criticized Homan for his defending Trump's “zero tolerance” policy on border crossings during his first administration, which led to the separation of thousands of parents and children seeking asylum at the border. Dr. Mehmet Oz, Centers for Medicaid and Medicare Services administrator Dr. Mehmet Oz, 64, is a former heart surgeon who hosted “The Dr. Oz Show,” a long-running daytime television talk show. He ran unsuccessfully for the U.S. Senate as the Republican nominee in 2022 and is an outspoken supporter of Trump, who endorsed Oz's bid for elected office. Elon Musk and Vivek Ramaswamy to advise White House on government efficiency Elon Musk, left, and Vivek Ramaswamy speak before Republican presidential nominee former President Donald Trump at an Oct. 27 campaign rally at Madison Square Garden in New York. Trump on Tuesday said Musk and former Republican presidential candidate Ramaswamy will lead a new “Department of Government Efficiency" — which is not, despite the name, a government agency. The acronym “DOGE” is a nod to Musk's favorite cryptocurrency, dogecoin. Trump said Musk and Ramaswamy will work from outside the government to offer the White House “advice and guidance” and will partner with the Office of Management and Budget to “drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.” He added the move would shock government systems. It's not clear how the organization will operate. Musk, owner of X and CEO of Tesla and SpaceX, has been a constant presence at Mar-a-Lago since Trump won the presidential election. Ramaswamy suspended his campaign in January and threw his support behind Trump. Trump said the two will “pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.” Russell Vought, Office of Management and Budget Russell Vought held the position during Trump’s first presidency. After Trump’s initial term ended, Vought founded the Center for Renewing America, a think tank that describes its mission as “renew a consensus of America as a nation under God.” Vought was closely involved with Project 2025, a conservative blueprint for Trump’s second term that he tried to distance himself from during the campaign. Vought has also previously worked as the executive and budget director for the Republican Study Committee, a caucus for conservative House Republicans. He also worked at Heritage Action, the political group tied to The Heritage Foundation, a conservative think tank. Additional selections to the incoming White House Dan Scavino, deputy chief of staff Scavino, whom Trump's transition referred to in a statement as one of “Trump's longest serving and most trusted aides,” was a senior adviser to Trump's 2024 campaign, as well as his 2016 and 2020 campaigns. He will be deputy chief of staff and assistant to the president. Scavino had run Trump's social media profile in the White House during his first administration. He was also held in contempt of Congress in 2022 after a month-long refusal to comply with a subpoena from the House committee’s investigation into the Jan. 6, 2021, attack on the U.S. Capitol. James Blair, deputy chief of staff Blair was political director for Trump's 2024 campaign and for the Republican National Committee. He will be deputy chief of staff for legislative, political and public affairs and assistant to the president. Blair was key to Trump's economic messaging during his winning White House comeback campaign this year, a driving force behind the candidate's “Trump can fix it” slogan and his query to audiences this fall if they were better off than four years ago. Taylor Budowich, deputy chief of staff Budowich is a veteran Trump campaign aide who launched and directed Make America Great Again, Inc., a super PAC that supported Trump's 2024 campaign. He will be deputy chief of staff for communications and personnel and assistant to the president. Budowich also had served as a spokesman for Trump after his presidency. William McGinley, White House counsel McGinley was White House Cabinet secretary during Trump's first administration, and was outside legal counsel for the Republican National Committee's election integrity effort during the 2024 campaign. In a statement, Trump called McGinley “a smart and tenacious lawyer who will help me advance our America First agenda, while fighting for election integrity and against the weaponization of law enforcement.” Jay Bhattacharya, National Institutes of Health Trump has chosen Dr. Jay Bhattacharya to lead the National Institutes of Health. Bhattacharya is a physician and professor at Stanford University School of Medicine, and is a critic of pandemic lockdowns and vaccine mandates. He promoted the idea of herd immunity during the pandemic, arguing that people at low risk should live normally while building up immunity to COVID-19 through infection. The National Institutes of Health funds medical research through competitive grants to researchers at institutions throughout the nation. NIH also conducts its own research with thousands of scientists working at its labs in Bethesda, Maryland. Jamieson Greer, U.S. trade representative Kevin Hassett, Director of the White House National Economic Council Trump is turning to two officials with experience navigating not only Washington but the key issues of income taxes and tariffs as he fills out his economic team. He announced he has chosen international trade attorney Jamieson Greer to be his U.S. trade representative and Kevin Hassett as director of the White House National Economic Council. While Trump has in several cases nominated outsiders to key posts, these picks reflect a recognition that his reputation will likely hinge on restoring the public’s confidence in the economy. Trump said in a statement that Greer was instrumental in his first term in imposing tariffs on China and others and replacing the trade agreement with Canada and Mexico, “therefore making it much better for American Workers.” Hassett, 62, served in the first Trump term as chairman of the Council of Economic Advisers. He has a doctorate from the University of Pennsylvania and worked at the right-leaning American Enterprise Institute before joining the Trump White House in 2017. Get Government & Politics updates in your inbox! Stay up-to-date on the latest in local and national government and political topics with our newsletter.
CALGARY, Alberta, Dec. 03, 2024 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. (" PrairieSky ”) (TSX:PSK) announced today that its Board of Directors has declared a quarterly dividend of CDN $0.25 per common share, payable in cash on January 15, 2025 to shareholders of record on December 31, 2024. This dividend is designated as an "eligible dividend” for Canadian income tax purposes. About PrairieSky Royalty Ltd. PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada. PrairieSky common shares trade on the Toronto Stock Exchange under the symbol PSK. FOR FURTHER INFORMATION PLEASE CONTACT: PrairieSky Royalty Ltd. Investor Relations (587) 293-4000 www.prairiesky.com PDF available: http://ml.globenewswire.com/Resource/Download/818920fe-8b83-4e27-9cf7-8c47f53b2b99Syria latest: Syrians celebrate in the streets as Russian media says Assad has arrived in Moscow
The 13 office buildings in Richmond, B.C.’s Airport Executive Park – a business park located on 35 acres of green space – date back to a time when climate change and carbon footprints weren’t part of mainstream discussions and long-term environmental control programs. But as more companies set climate and sustainability targets, many are actively working toward reducing greenhouse-gas (GHG) emissions within their operations and supply chains. Fiera Real Estate Canada – the current owner of Richmond’s Airport Executive Park (AEP) – is aiming to achieve net-zero emissions by 2040, partly through the installation of electric heat pumps that will replace its gas-fired heating systems, which date back to the 1980s and early 2000s. The company’s net-zero ambitions are emblematic of the significant commitments national building owners are making that will help Canada reach its target of net-zero building emissions by 2050. And while 25 years from today may seem like a long time, experts warn Canada isn’t making progress fast enough to achieve its goal. The clock began ticking in 2021 when the federal government adopted the Canadian Net-Zero Emissions Accountability Act , aiming for net-zero emissions by 2050, with an interim target of GHG reductions hitting at least 40 per cent below 2005 levels by 2030. Released this year, the Canada Green Buildings Strategy says there are more than 564,000 commercial and institutional buildings across the country, and because the majority are expected to still be in use in 2050, most will require extensive upgrades and retrofitting to reach Canada’s net-zero goal. “It’s hard to see how we’re going to achieve the interim standards for the building sector by 2030, and if we don’t reach them, the climb to 2050 is going to be a lot harder,” says Thomas Mueller, president and chief executive officer of the Canada Green Building Council (CAGBC), which supports the building industry’s transition to green structures and sets national standards for zero-carbon buildings. Updated in July, the council’s Zero Carbon Building standards focus on maintaining high energy efficiency in new buildings and reducing carbon emissions in older structures by replacing fossil-fuel-burning equipment. It estimates that Canada needs to convert at least 3 per cent of its buildings to net-zero emissions a year and invest billions in making buildings greener. A recent study from CAGBC and the Delphi Group – a Canadian climate and sustainability consultancy – identifies the most-needed upgrades in buildings to be LED lighting, triple-glazed windows, roof insulation, high-efficiency ventilation systems, as well as computer control systems that reduce heating and cooling when rooms are not in use. These upgrades require major structural changes and are why most building owners are conducting feasibility studies and putting refits into their 10-year plans, says Tonya Lagrasta, vice-president and head of ESG at commercial real estate services company Colliers Canada. However, she says: “The price tags for things like window replacements can have owners of older buildings falling off their chairs.” The Pembina Institute, a clean-energy think tank, estimates that decarbonizing Canada’s commercial and residential building sector will require more than $400-billion in upgrades. It also concludes that more incentives must be put in place. Since grants are often difficult for governments to finance and administer, tax credits to stimulate investment are more practical, says Mr. Mueller. However, a challenge is that several provinces and cities have building codes that include specifications that vary from the federal standards. “It is a real hodgepodge of standards across the country and that is contributing to confusion,” says Terry Bergen, Victoria-based managing principal of RJC Engineers, a building science consultancy. For retrofits, there is also a misconception that high efficiency comes with higher operating costs. But recently, a lot of studies have been released that demonstrate a high return on investment by making these changes, says Duncan Rowe, a Toronto-based principal with RJC Engineers. At the same time, Mr. Rowe acknowledges that it’s not economical or ecologically practical to speed up the replacement of nearly-new equipment just to meet a standard. In other words, upgrades should be aligned with the life cycle of equipment. In the case of Airport Executive Park, the heating systems were several decades old and in need of replacement. While the newly installed systems are less than a year old, the expectation is that annual energy cost savings for all the property’s buildings will be as much as 50 per cent. In the long term, achieving net-zero emissions by 2050 is an interim step toward a goal of being fully net-zero energy – producing as much clean energy as consumed with on-site clean and renewable sources, such as solar, wind or geothermal, Ms. Lagrasta says. Net-zero energy is achievable because technology is advancing, says Mr. Rowe. For instance, solar technology is becoming affordable and can be efficient at powering some buildings, but it needs the right conditions. If a building owner has a large roof area, solar is a practical solution, though it won’t be sufficient for an office tower with a small roof. However, there are also developments in photovoltaic glass that can turn windows into power sources, Mr. Rowe says. Ultimately, economics – not politics – will persuade building owners to invest in green technology, Ms. Lagrasta says. A study by Colliers found tenants are willing to pay a premium of an average of 8 per cent to be in a building with a high sustainability rating. “Building owners value their assets and political winds come and go. But it will become harder to attract and retain tenants in an older building that is falling behind the curve,” Ms. Lagrasta says.
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. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!
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