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New Delhi: The Congress on Saturday described the Maharashtra poll outcome as "inexplicable" and claimed that the level-playing field was disturbed in a targeted manner as part of a conspiracy to defeat it. The opposition party, however, hailed the result in Jharkhand, saying the people of the state had categorically rejected the " politics of polarisation " peddled by the BJP. Assembly Election Results Live Updates Maharashtra Election Results Jharkhand Election Results Bypoll Election Results "The Maharashtra assembly poll result is surprising, inexplicable for us," Congress leader Jairam Ramesh said, stressing that it was not a victory of development, as projected by the BJP. On Jharkhand, he said, "The people of Jharkhand have decisively rejected the politics of polarisation." Congress leader Pawan Khera said, as the principal opposition party, "we find it our responsibility to keep raising issues of transparency in elections". 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Our morale is not down and we will strengthen the organisation and analyse the results," Congress general secretary Jairam Ramesh said at a press conference. "We won and lost today but the Congress' agenda will not change and we will keep raising the issues that we have been raising such as that of caste census, raising reservation limit of 50 per cent, growing economic disparity and 'Modani'," Ramesh said, adding that the people of Maharashtra had not rejected these issues, as projected by the BJP. He said the Maharashtra results were opposite to the ground situation in the state a few months ago. "We will analyse the poll outcome and come out with measures to strengthen the organisation and revive it in the state and continue to raise the issues that we have been raising," he said. "We will keep raising questions on electoral transparency and there will be no change in our agenda," Ramesh said. Assembly Election Results Live Updates Maharashtra Poll Results Highlights 2024 Jharkhand Poll Results Highlights 2024 (You can now subscribe to our Economic Times WhatsApp channel )

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Economists at two Southern California universities see new reasons to worry ahead, namely policies from the nation’s next president. They warn in new forecasts released this week that the economy may stumble in 2025 because of controversial policies promised by President-elect Donald Trump. Economist James Doti, president emeritus at Chapman University, said the economy “still appears to be strong,” even though a long period of declining inflation could reverse course under Trump. A year ago, Doti’s reading of the tea leaves showed “very slow growth” and no recession in 2024. Today, he’s sticking to a similar tale of “slow growth” that now extends through 2025. New to the mix is “some upward pressure” on inflation due to proposed tariffs and mass deportations Trump has vowed to launch after his inauguration in January. Economist Jerry Nickelsburg at UCLA agreed with Doti’s analysis. “The underlying fundamentals of the economy are strong. They have been for some time, which is why we did not say that we were going to have a recession in 2023 or 2022,” said the director of the UCLA Anderson Forecast. “Now, that doesn’t mean that geopolitical events or different policies from Washington that are not in our forecast couldn’t generate a recession. It’s just not in the data right now.” Both economists said Trump is inheriting a strong economy that will grow more slowly than previously forecast while it adjusts to new national economic policies. The clarity of post-presidential election forecasts at Chapman and UCLA are clouded by Trump’s plans to implement several economic policies promised during his 2024 campaign. Among the most controversial policies are new or increased tariffs on the nation’s largest trading partners – including Canada, China and Mexico. Policies also include mass deportations, tax cuts and deregulation. Doti believes Trump’s vow to deport of 500,000 to 1 million undocumented immigrants and 10%-25% tariffs on imported goods could push inflation closer to 3% than the Fed’s desired 2% level. How these policies manifest is not necessarily clear, considering practical, legal and political constraints on implementation, according to Nickelsburg. The UCLA professor of economics said this month’s forecast was one of the most difficult ones he’s ever written, with the exception of a recession prediction four years ago as the COVID-19 pandemic began. “When we did our March forecast in 2020, we had no idea how the pandemic was going to play out, and so there was a great deal of uncertainty then as well as now,” he said. “Economic policy in Washington is changing in a pretty fundamental way, so that increases uncertainty until we get some clarity as to what policies are going to be implemented.” Meanwhile, UCLA predicts a slowdown in interest rate cuts as the federal government grapples with those new policies. Nickelsburg sees the Federal Reserve cutting interest rates by 25 basis points at its board of governors meeting Dec. 18. He expects a pause on cuts until 2026 when the economy has absorbed the impacts of tariffs. The Fed could end up with interest rates hovering between 4% and 4.25% in 2026, he said. Doti has a different take, saying the Fed won’t cut rates in December and will instead take a wait-and-see approach. He expects the central bank will make only two, 25 basis-point cuts in 2025. “The reason we don’t think there’ll be a cut in rates next week is because we still have high inflation (2.7% for the year ended in November 2024), and it’s above the Fed’s target range of 2%, and GDP growth is at 2.8%, and job growth has still been very strong,” Doti said. “Given the Fed’s cautious approach, it’ll hold back on making further cuts.” Growth in gross domestic product, used to measure the nation’s economic health, is expected to fall to 1.4% by the end of 2025 from 2.8% in the 2024’s third quarter, he said. Both economists said the state of housing in California is showing financial strain. On the construction front, residential permits in California are forecast to rise by 12.9% in 2025, despite continuing high mortgage rates, Doti said. He argued that high mortgage rates may indirectly spur new construction. “There is a paucity of resale homes on the market because homeowners don’t want to sell and lose their sweetheart locked-in mortgages,” he said. “That has led to a sharp drop in resale home sales. The dearth of resale homes on the market is buttressing demand for new homes, often available for sale at heavily subsidized financing rates.” Nickelsburg said normalization is slowly returning to the California housing market, but potential construction cost increases due to tariffs and labor shortages could slow that process. “Builders should be responding with new development given existing homes sales are at depression levels,” said Nickelsburg. Both forecasts raised concerns about the jobs picture. Doti sees economic growth in California hampered by population losses, which he blames on the state’s regulatory and tax burdens, which have led people and businesses to leave for cheaper states like Florida and Texas. California’s job growth is forecast to rise 4.6% to 18.2 million in 2025, up from 17.4 million in 2019, but trailing U.S. job growth of 5.9% over the same period. The flight of people from the state also has lowered retail sales tax revenue, prompting some cities to raise sales tax rates in order to replenish budgets left with financial gaps. Data from Chapman showed fewer people are shopping, which translates to less tax revenue for cities. For the year-period that ended June 30, 2024, retail sales fell 4% in Orange County, 2.3% in Los Angeles County, 1.2% in the Inland Empire and 0.8% in San Diego County. For Nickelsburg, the big unknown on jobs will be the mass deportation and tariff policies of the incoming president, and their impact on a wide of industries including agriculture, construction, leisure and hospitality, retail trade and transportation and warehousing industries. Taken together, the deportations and tariffs will raise the prices for many goods and services, and potentially cause product shortages and higher labor costs as jobs go unfilled, he argued. “The uncertainty regarding the future path of unemployment is more elevated than usual because the impact of mass deportations on unemployment is not well understood due to limited empirical research on the subject,” according to Nickelsburg. Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast, using various graphs and charts to explain his predictions and projections, at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast, using various graphs and charts to explain his predictions and projections, at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast, using various graphs and charts to explain his predictions and projections, at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast for the U.S., California and Orange County at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast for the U.S., California and Orange County at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast for the U.S., California and Orange County at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast for the U.S., California and Orange County at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast for the U.S., California and Orange County at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer) Economist James Doti, the President Emeritus and Rick Muth Family Chair in Economics at Chapman University, delivers his annual economic forecast, using various graphs and charts to explain his predictions and projections, at the Musco Center for the Arts at Chapman University on Thursday, Dec. 12, 2024. (Photo by Jeff Antenore, Contributing Photographer)

Bryson Daily rushed for 127 yards and three touchdowns, setting a single-season FBS record for scores by a quarterback along the way, as No. 22 Army rolled past Louisiana Tech 27-6 in the Independence Bowl on Saturday in Shreveport, La. Hayden Reed carried 20 times for a career-high 114 yards and a touchdown as Army (12-2) rebounded from a crushing 31-13 loss two weeks ago to Navy, in which the Black Knights relinquished the Commander-in-Chief's trophy. Army improved to 8-3 all-time in bowl games, and its 12 wins are the most in a season in program history. Daily finished his senior season with 32 touchdowns, which topped the previous mark of 31 by an FBS quarterback, set by Navy's Keenan Reynolds in 2013. "I'm really proud of this senior class, the way we came together to have this season," Daily said. "To have two six-win seasons in a row, to turn it around and get 12, just extremely proud of the guys." The Black Knights rang up 321 yards on the ground, averaging 5.0 yards per attempt against short-handed Louisiana Tech (5-8), which was without several players who entered the transfer portal. The Bulldogs had only six defensive linemen available. Louisiana Tech was a replacement for Marshall (10-3), which opted out of the game after more than 20 players entered the portal. The Black Knights limited the Bulldogs to 218 yards and 11 first downs. Army stuffed Louisiana Tech's rushing attack, allowing just 49 yards on 22 carries. Evan Bullock completed 14 of 28 passes for 169 yards for Louisiana Tech. Tru Edwards had eight receptions for 92 yards. Louisiana Tech coach Sonny Cumbie expressed disappointment on two fronts. "I'm disappointed with them and the outcome. I'm disappointed that we didn't play our best. I think it's two fold, to use this taste of postseason play to motivate you to get back here, and then also to use this taste of postseason play to know that you play people where you have a small margin for error." Army was without second-leading rusher Kanye Udoh, who has transferred to Arizona State, after amassing 1,117 yards and 10 touchdowns this season. The Black Knights dominated from the start, scoring touchdowns on their first three drives, which covered 80, 80 and 75 yards. Army's 21-play, 75-yard march in the second quarter, which was capped by an 8-yard touchdown run by Daily, chewed a whopping 12:21 off the clock and put the Black Knights up 21-3 at the break. Louisiana Tech drove inside the Army 10-yard line on three occasions but settled for field goals of 27 and 44 yards from Drew Henderson. The Black Knights' Jaydan Mayes snuffed out the other march with an interception in the end zone in the fourth quarter. --Field Level Media

Report: Kentucky QB Brock Vandagriff retires from footballBain Capital Specialty Finance, Inc. ( NYSE:BCSF – Get Free Report ) declared a — dividend on Monday, May 13th, Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.03 per share on Friday, January 31st. This represents a dividend yield of 10.1%. The ex-dividend date is Tuesday, December 31st. Bain Capital Specialty Finance has increased its dividend by an average of 3.8% per year over the last three years. Bain Capital Specialty Finance has a payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bain Capital Specialty Finance to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 6.4%. Bain Capital Specialty Finance Price Performance Shares of Bain Capital Specialty Finance stock opened at $17.70 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.13. The firm has a fifty day simple moving average of $16.97 and a 200-day simple moving average of $16.72. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 8.89 and a beta of 1.12. Bain Capital Specialty Finance has a 1-year low of $14.75 and a 1-year high of $17.79. Bain Capital Specialty Finance Company Profile ( Get Free Report ) Bain Capital Specialty Finance, Inc is business development company specializing in direct loans to middle-market companies. The fund seeks to invest in senior investments with a first or second lien on collateral, senior first lien, stretch senior, senior second lien, unitranche, mezzanine debt, junior securities, other junior investments, and secondary purchases of assets or portfolios that primarily consist of middle-market corporate debt. See Also Receive News & Ratings for Bain Capital Specialty Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bain Capital Specialty Finance and related companies with MarketBeat.com's FREE daily email newsletter .Carter's turbulent term in the White House was followed by more than three decades as an international envoy of peacemaking and democracy. What you need to know The longest-lived American president died on Sunday at his home in the small town of Plains, Georgia US President-elect Donald Trump said Americans owe Carter 'a debt of gratitude' Biden mourns 'extraordinary leader' US President Joe Biden mourned Carter's death, calling him a "dear friend" and "extraordinary leader, statesman and humanitarian." "Over six decades, we had the honor of calling Jimmy Carter a dear friend. But, what’s extraordinary about Jimmy Carter, though, is that millions of people throughout America and the world who never met him thought of him as a dear friend as well," Biden said of himself and his wife Jill. The president said he will be ordering an official state funeral to be held in Washington. Empire State Building honors 'life and legacy' of Carter The Empire State Building in New York said it was reflecting the colors of the US flag in memory of the late president. "Tonight we will shine in Red White and Blue to honor the life and legacy of President Jimmy Carter," the Empire State Building said on social media. Carter 'worked tirelessly for a better, fairer world,' Bill Clinton says Former Democratic US President Bill Clinton mourned fellow Democrat Carter, saying he "worked tirelessly for a better, fairer world." In a joint statement with his wife, Hillary, Clinton said that the late president "lived to serve others -- until the very end." "Hillary and I met President Carter in 1975 and were proud, early supporters of his presidential campaign," Clinton said. Clinton served as president some 15 years after Carter. Trump says Americans owe Carter 'debt of gratitude' Republican President-elect Donald Trump mourned Carter, saying Americans owed the late Democratic president "a debt of gratitude." "The challenges Jimmy faced as President came at a pivotal time for our country and he did everything in his power to improve the lives of all Americans," Trump said on social media. "For that, we all owe him a debt of gratitude." Former US President Jimmy Carter is Dead at age 100 Former US President Jimmy Carter has died at the age of 100. “My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love,” his son Chip Carter said. The Carter Center announced that there will be public events in Atlanta and Washington. After these events, there will be a private burial in Plains. Carter, who served from 1977 to 1981, was known for his humanitarian work and won the Nobel Peace Prize in 2002. He passed away at his home in Plains, Georgia, after more than a year in hospice care. Final arrangements for the former president's state funeral are still pending, according to the center. rmt/lo (AFP, AP, dpa, Reuters)

CLEVELAND, Ohio — The Cavs will be missing a key piece of their starting lineup on Friday night. Sources tell cleveland.com that fourth-year forward Evan Mobley is out because of a minor ankle sprain suffered in Sunday’s loss to the Miami Heat. Listed as questionable going into Friday’s matchup, Mobley did not participate in practice this week, going through individual workouts instead. His status for Monday’s game in Brooklyn is still unknown. Friday is just his second missed game of the season. More Cavs coverage Cavs vs. Wizards: preview, injury report, odds, TV When is Max Strus expected to make his return for the Cavs? Wine and Gold Talk podcast ‘An injection of energy’: League-best Cavs eager to integrate Max Strus into lineup Who are The 40 Most Influential People in Cleveland Sports when it comes to fan happiness? See our list and how we ranked them. With Mobley unavailable, versatile forward Dean Wade is expected to slide into the starting lineup. On Sunday evening in Miami, Mobley dropped in a short-range hook shot. As he jumped quickly for a second time to get in position for a possible offensive rebound, the 7-footer landed awkwardly on Heat forward Kevin Love’s foot. Mobley screamed in pain, reached down toward his lower left leg and hobbled back on defense. Spending the next few possessions limping around the court and trying to shake off the pain, Mobley was able to stay in the game and logged 12 minutes during the first half. But he was clearly hampered by the injury and never felt right after. At halftime, the team made a collaborative decision to keep him out for the rest of the night . Mobley told cleveland.com after the game that he was “good” and it wasn’t a serious injury. Cavs coach Kenny Atkinson admitted that he typically takes a cautious approach with any injury, no matter how minor. Mobley will join swingman Max Strus on the sidelines Friday night. Isaac Okoro, however, will make his return from a knee contusion. Strus is still waiting to make his regular season debut. Despite returning to practice this week for the first time since a mid-October ankle injury, Strus isn’t quite ready for clearance when it comes to game action — although his comeback date is imminent. “He’s progressing,” Atkinson said of Strus. “I would just say we take our time and I’m a part of that decision-making process. We want to make sure there’s no setbacks. We want to make sure he’s ready. I’m a little bit more conservative. I push for that. But at the end of the day he’s going to feel it. He’s going to know. We should see him soon.”