A new Texas GOP rule could alter the House speaker’s race — and ban some Republicans from appearing in primaries
Dog food recalled in 7 states for salmonella risk after puppy litter gets sick, FDA saysInkjet-printed scalp tattoos may allow for on-the-go brain monitoringAmerican and European stock markets mostly rose on Wednesday after inflation data cemented expectations that the US Federal Reserve will trim interest rates next month. While the Dow fell slightly, the other two major US indices advanced, led by the tech-rich Nasdaq, which piled on almost two percent to close above 20,000 points for the first time. The consumer price index (CPI) rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October. "With the CPI numbers broadly in line, it is likely that the Fed will not be derailed and will cut rates again next week," Jochen Stanzl, chief market analyst at CMC Markets. "The data is not a showstopper for the current bull run on Wall Street," he added. Ahead of the data, investors priced in an 86 percent chance the Fed will cut interest rates next week by a quarter percentage point. That rose to more than 98 percent after the CPI data was published. Stocks in Paris and Frankfurt rose ahead of the European Central Bank's own interest rate announcement on Thursday, with analysts expecting another cut as it seeks to boost eurozone growth. Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister "within 48 hours" as he seeks to end political deadlock following the ouster of Michel Barnier. In company news, shares in German retail giant Zalando shed more than four percent on Frankfurt's DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion). Shares in Zara owner Inditex slid more than six percent after a record quarterly profit for the group fell short of market estimates. Among US companies, Google parent Alphabet earned 5.5 percent as it announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date. That added to gains after Google also announced Tuesday details of a breakthrough quantum chip. Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red. Traders were keeping tabs on China to see if it will announce further measures to support its struggling economy as leaders were to gather Wednesday for a conference to hammer out next year's agenda. President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would "implement a more active fiscal policy and an appropriately relaxed" strategy. Those remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending. New York - Dow: DOWN 0.2 percent at 44,148.56 (close) New York - S&P 500: UP 0.8 percent at 6,084.19 (close) New York - Nasdaq Composite: UP 1.8 percent at 20,034.89 (close) London - FTSE 100: UP 0.3 percent at 8,301.62 (close) Paris - CAC 40: UP 0.4 percent at 7,423.40 (close) Frankfurt - DAX: UP 0.3 percent at 20,399.16 (close) Tokyo - Nikkei 225: FLAT at 39,372.23 (close) Hong Kong - Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close) Shanghai - Composite: UP 0.3 percent at 3,432.49 (close) Euro/dollar: DOWN at $1.0498 from $1.0527 on Tuesday Pound/dollar: DOWN at $1.2752 from $1.2771 Dollar/yen: UP at 152.40 yen from 151.95 yen Euro/pound: DOWN at 82.31 from 82.42 pence Brent North Sea Crude: UP 1.8 percent at $73.52 per barrel West Texas Intermediate: UP 2.4 percent at $70.29 per barrel burs-jmb/mlm
Racing Optics® Introduces Game-Changing Twilight Tearoff to Enhance Visibility in Low-Light Racing ConditionsThe only people we want to take us for a ride are rail workers, says union boss
CLEMSON, S.C. (TNS) — “Here is the reality,” said Sen. Bernie Sanders in his analysis of Donald Trump’s strong electoral victory and support from some traditional Democrats: “The working class of this country is angry, and they have reason to be angry. We are living in an economy today where the people on top are doing phenomenally well while 60 percent of our people are living paycheck to paycheck.” Household data spanning 2019-22 support Sanders’ argument. The Federal Reserve found substantial increases in average net worth for all income levels except the poorest 20% of families (though the Fed doesn’t adjust these figures for how much of the accompanying federal debt we’ll each bear). In any case, according to the senator, greed was the main culprit. I think a fair portion of the blame lies with misplaced generosity. Greed is ever-present in human affairs, but those years included something unique: Massive government efforts to soften the blows of COVID-19. Paradoxically, this helped the rich get richer and contributed to the 2024 political climate. The government’s stimulus program — much of which ended up as generous but perhaps unintended taxpayer gifts to the wealthy — and Fed interest rate cuts led to rising real estate prices and substantial gains in stock market values. More dollars in the economy meant each dollar was worth less as inflation took off. Higher-income households are less damaged by inflation than working-class people who spend most of their income on goods and services. Meanwhile, contrary to plans, federal programs disproportionately transferred billions to owners and managers of businesses across the nation rather than to hourly workers. On top of that, a lot of COVID-relief money, paid for in no small part by current or future working-class taxpayers, simply got wasted. A review of the situation by Cecilia Rouse, Brookings Institution president and chair of the Council of Economic Advisors from 2021-23, offers a revealing and disturbing analysis. Rouse focuses on both the disastrous effects of the pandemic and assessing the massive $4.5 billion in stimulus packages delivered by the Trump and Biden administrations. Though just four years ago, it bears mentioning that as President Joe Biden took office, some 460,000 Americans had been killed by the pandemic. Before the pandemic’s end, 1.2 million U.S. lives would be taken. The economy’s shutdown brought a devastating disruption to daily life. Rouse points out that in April 2020, “the number of Americans living under stay-at-home orders reached more than 300 million.” Weekly claims for unemployment compensation rose from a typical level of 207,000 in March 2020 to 6,137,000 in April. Stimulus poured in, we learned to better protect ourselves and things quickly started improving. Employment recovered in record time. The nation dealt with one of the most severe, but thankfully short, disruptions in modern times. But given the damaging bout with inflation that followed, was the stimulus too large? Was the waste, fraud and abuse too much? Did working class people get a fair share? Or was the system tilted so that higher-income people gained too much? Rouse examines two specific programs. The $800 billion Paycheck Protection Program (PPP) provided forgivable loans to small businesses and nonprofits to retain workers, meet payroll and insurance costs, and keep the doors open. The Economic Injury Disaster Loan (EIDL) program provided larger loans payable over 30 years. Some 1 million firms received PPP loans and 3.9 million obtained EIDL loans. Researchers show that two-thirds of the PPP’s forgivable loans went to business owners and shareholders, not to employees or wage earners. The General Accountability Office indicates that fraud totaled $64 billion out of the $800 billion. Estimates of fraud under the EIDL program indicate that $136 billion was siphoned off. Other research indicates that PPP loans cost between $169,000 and $256,000 for each job saved, more than twice the annual wage of the workers effected. With owners and executives at the top siphoning off money, protecting workers was neither simple nor affordable. Let us hope that our nation never faces another tragic pandemic. But if it does, let us also hope that our government doesn’t take actions that enable the rich to get richer while the poor get poorer in more ways than one. Should working-class voters be angry about greed, or at those who enabled it? (Bruce Yandle is a distinguished adjunct fellow with the Mercatus Center at George Mason University, dean emeritus of Clemson University’s College of Business & Behavioral Science, and former executive director of the Federal Trade Commission.)Our HS sports photos like the ones above put you right up close with the action and the whole experience. Check them out by clicking anywhere in the collage above to open the photo gallery. Don’t forget to share the gallery with friends and relatives. These photos are also available for purchase in a variety of sizes and finishes – just click the “BUY IMAGE” link below any photo to see available options and make a purchase. NJ.com subscribers can also get free print-quality digital downloads of any images in this gallery. Note: Because we are trying to make these galleries available for viewing as quickly as possible, the gallery may not be in its final form. 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H5N1 virus in Louisiana bird flu patient shows mutations that could increase transmissibility to humans, CDC analysis finds
UK, Italy, Japan to develop next-generation fighter jetGame Changer Alert! Bidu Share Price and the Future of GamingA new Texas GOP rule could alter the House speaker’s race — and ban some Republicans from appearing in primaries
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A recent Israeli airstrike in Syria killed a senior Hezbollah commander who helped plan one of the boldest and most sophisticated attacks against American troops during the Iraq War, according to a senior U.S. defense official. Ali Mussa Daqduq had been captured by U.S. forces following the 2007 raid in which militants posing as an American security team killed five U.S. soldiers. But he was later released by the Iraqi government. Details of the Israeli airstrike were scarce. It was not immediately clear when the strike took place, where in Syria or whether it targeted Daqduq specifically, the senior defense official said. A Pentagon spokesperson did not immediately respond to a request for comment. The Israeli embassy referred questions to its military, which did not immediately respond. The elaborate raid Daqduq helped plan was carried out at a U.S.-Iraqi military complex in Karbala on Jan. 20, 2007. A group of men posing as an American military security team – wearing U.S. military combat fatigues, carrying U.S. weapons and some speaking English – convinced security to let them through several checkpoints and right up to a building where U.S. and Iraqi troops were working. The facility was part of a series of compounds known as Joint Security Stations in Iraq, where U.S. troops lived and worked with the Iraqi police and soldiers. More than two dozen U.S. soldiers were in the Provisional Joint Coordination Center, or PJCC, when the militants arrived, including several in the barracks room where the troops were living. The militants surrounded the building, using grenades and explosives to breach the entrance. One American soldier was killed by a grenade. Once inside, the militants captured two U.S. soldiers inside the building and two others outside the building, before speeding away in waiting SUVs. U.S. attack helicopters caught up with the convoy, prompting the militants to bolt from their vehicles and take off by foot. They shot and killed the four U.S. captives at some point during the escape. The four soldiers shot by their captors were identified as 1st Lt. Jacob Noel Fritz, 25; Capt. Brian Scott Freeman, 31; Pfc. Shawn Patrick Falter, 25; and Spc. Johnathan Bryan Chism, 22. The soldier killed by the grenade at the compound was identified as Pfc. Johnathon Miles Millican, 22. In the aftermath of the attack, U.S. officials suspected the militants had direct support from Iran, given the level of coordination, training and intelligence required to carry it out. U.S. forces captured Daqduq in March 2007 and soon achieved a breakthrough in establishing that Iran's Quds Force, an elite unit of the country's Revolutionary Guard, was involved in planning the Karbala raid. Under questioning, Daqduq said the operation resulted from direct support and training by the Quds Force. Daqduq was held by the U.S. military in Iraq for several years but then handed over to Iraqi authorities in December 2011, when the U.S. military mission ended. He was the last prisoner handed over before U.S. troops pulled out of the country. The Iraqis assured U.S. officials that they would prosecute Daqduq, but within months he was released, prompting outrage from American officials and politicians . Daqduq was soon leading Hezbollah fighters once again, the senior U.S. defense official said.Denton 2025: The major road projects, election shakeups and city initiatives to watch
OG Maco, the Atlanta rapper best known for his 2014 viral hit "U Guessed It," tragically passed away at the age of 32 in a Los Angeles hospital. As reported by TMZ Hip Hop, Maco had been hospitalized since December 12 after sustaining a gunshot wound to the head. Although doctors tried to maintain his stability and remove toxins from his body, his condition worsened and he died as a result of his injuries. ET Year-end Special Reads Two sectors that rose on India's business horizon in 2024 2025 outlook: Is it time for cautious optimism or rekindling animal spirits? 2024: Govt moves ahead with simultaneous polls plan; India holds largest democratic exercise The family members that travelling from other countries to be by his side are very moved because of the death. Earlier false reports of his death had surfaced on social media, but Maco was still fighting for his life until his passing. Following a neighbor's 911 call reporting gunshots, the hospitalisation of rapper ensued. Authorities later recovered a firearm near the scene. Also Read : Musk and Ramaswamy Spark Fierce Debate Over Skilled Immigration, Clash with MAGA Base on U.S. Labor and Tech Industry Needs OG Maco’s rise to fame began with "U Guessed It," a song that not only became a viral sensation but also solidified his place in hip-hop. He went on to become part of QC Records and pushed creative boundaries, then made a Freshman Class list in XXL Magazine (2015) along side Vince Staples and K Camp. His career faced significant challenges due to health issues, including a battle with a rare flesh-eating disease that impacted his journey. However, for the sake of these overcome obstacles, OG Maco continued to be an inspiration and a stand of resilience in the music industry. 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OG Maco was an Atlanta-based rapper, known for his 2014 viral hit "U Guessed It." He gained fame for his energetic style and influence in the hip-hop world. When did OG Maco die? OG Maco passed away on December 26, 2023, in a Los Angeles hospital, surrounded by his family. (You can now subscribe to our Economic Times WhatsApp channel )
