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jili slot jackpot TikTok is challenging the federal government’s order to shut down its operations in Canada. The company filed in documents in Federal Court in Vancouver on Thursday. The government ordered the dissolution of TikTok’s Canadian business in November after a national security review of the Chinese company behind the social media platform. That means TikTok must “wind down” its operations in Canada, though the app will continue to be available to Canadians. TikTok wants the court to overturn the government’s order and to place a pause on the order while the court hears the case. It is claiming the minister’s decision was “unreasonable” and “driven by improper purposes.” The review was carried out through the Investment Canada Act, which allows the government to investigate any foreign investment with potential to harm national security. Industry Minister François-Philippe Champagne said in a statement at the time the government was taking action to address “specific national security risks,” though it didn’t specify what those risks were. TikTok’s filing says Champagne “failed to engage with TikTok Canada on the purported substance of the concerns that led to the (order.)” The company argues the government ordered “measures that bear no rational connection to the national security risks it identifies.” It says the reasons for the order “are unintelligible, fail to reveal a rational chain of analysis and are rife with logical fallacies.” The company’s law firm, Osler Hoskin & Harcourt LLP, declined to comment, while Champagne’s office did not immediately respond to a request for comment. A TikTok spokesperson said in a statement that the order would “eliminate the jobs and livelihoods of our hundreds of dedicated local employees — who support the community of more than 14 million monthly Canadian users on TikTok, including businesses, advertisers, creators and initiatives developed especially for Canada.” This report by The Canadian Press was first published Dec. 10, 2024. Darryl Greer and Anja Karadeglija, The Canadian Press

Supervisors shuffle $1.3M in unspent COVID relief funds

-- First Half Revenue of $85.7 million , increase 1.5% year-over-year -- -- First Half GMV of $107.3 million , down 7.0% year-over-year -- SHANGHAI , Dec. 19, 2024 /PRNewswire/ -- Jowell Global Ltd. ("Jowell" or the "Company") (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China , today announced its unaudited financial results for the six months ended June 30, 2024 . First Half 2024 Financial and Operational Highlights Total revenues were $85.7 million , an increase of 1.5% from $84.4 million in the same period of 2023. Net loss was $3.8 million , a decrease of 47.1%, as compared to the net loss of $7.1 million in the same period of 2023. Total GMV (Gross Merchandise Value) transacted in our online shopping mall was $107.3 million , a decrease of 7.0% from $115.5 million in the same period of 2023. Total VIP members [1] as of June 30, 2024 were approximately 2.7 million, an increase of 8.5% compared to approximately 2.5 million as of June 30, 2023 . Total LHH stores [2] as of June 30, 2024 were 26,795, an increase of 1.0% compared to 26,528 as of June 30, 2023 . [1] "Total VIP members" refers to the total number of members registered on Jowell's platform as of June 30, 2024 and June 30, 2023. [2] "LHH stores" refers to the brand name of "Love Home Store". Authorized retailers may operate as independent stores or store-in-shop (an integrated store), selling products they purchased through Jowell's online platform LHH Mall under their retailer accounts, which provides them with major discounts. First Half 2024 Financial Results Total Revenues Total revenues for the first half 2024 were $85.7 million , representing an increase of 1.5% from $84.4 million in the same period of 2023. Our weighted average unit price was $5.16 per unit for the first half of 2024, which represented an increase of 4.2% as compared to $4.95 per unit for the same period of 2023. Our health and nutritional supplements revenue for the first half of 2024 increased by about $11.1 million , or 182.1%, as compared to the same period of 2023. The increase in health and nutritional supplements revenue was mainly due to the increase in sales of premium brand health and nutritional supplements. We have stepped up our promotions on these items during the Chinese New Year holidays in the first half of 2024 in an attempt to offer more promotional discounts in response to the overall market downturn. First Half Ended June 30 % 2024 2023 change Revenues (in thousands, except for percentages) US$ US$ YoY* Product sales • Cosmetic products 19,768.5 29,495.5 (33.0 %) • Health and nutritional supplements 17,190.7 6,094.2 182.1 % • Household products 48,438.7 48,473.1 (0.1 %) • Others 286.4 343.4 (16.6 %) Total 85,684.3 84,406.2 1.5 % * YOY—year over year Total cost and operating expenses were $89.6 million in the first half of 2024, a decrease of 1.5% from $91.0 million in the same period of 2023. Costs of revenues were $84.8 million in the first half of 2024, an increase of 1.3% from $83.8 million in the same period of 2023, which including an increase of $11.1 million in health and nutritional supplements and partially offset by a decrease of $7.9 million in cosmetic products and $1.4 million in household products. Cost of revenues of health and nutritional supplements for the first half 2024 increased about 189.9% as compared to the same period of 2023. The increase was primarily due to a 65.7% increase in weighted average unit cost. The increase in weighted average unit costs for our health and nutritional supplements is mainly because we offered and sold more higher unit price products in the first half 2024 than the same period of 2023. The decrease in the cost of cosmetic products and household products was attributable to a decrease in the weighted average unit cost and a decrease in sales volume. The weighted average unit cost of cosmetic products decreased from $2.94 in the first half of 2023 to $2.47 in the first half of 2024, and weighted average unit cost of household products decreased from $8.18 in the first half of 2023 to $8.11 in the first half of 2024, both decreases mainly due to reduced customers discretionary spendings on premium brands and their preference to low cost, low price and necessity household products during the first half of 2024, as compared to the same period of 2023. The cosmetic products sales volume declined the most, with a decrease of 13.5% during the first half of 2024 comparing to the same period of 2023. Fulfillment expenses primarily consist of costs related to expenses paid for order preparing, packaging, outbound freight, and physical storage. Fulfillment expenses were $0.8 million in the first half of 2024, a decrease of 56.8% from the $1.9 million in the same period of 2023. Fulfillment expenses as a percentage of total revenues were 1% in the first half of 2024, down from 2.3% in the first half of 2023. The significant reduction in fulfillment costs are attributed to our cost reduction measures in logistics. Firstly, we reduced the rental area of warehouses and labor costs in the logistics process; Secondly, we switched to logistics service providers with lower cost to replace the original ones, significantly reducing express logistics costs. Marketing expenses primarily consist of targeted online advertising, and payroll and related expenses for personnel engaged in marketing and selling activities. Marketing expenses were $2.8 million in the first half of 2024, a decrease of 15.8% from the $3.3 million in the same period of 2023. The decrease was primarily due to a decrease in our marketing and promotion activities. Marketing expense as percentage of total revenues was 3.2% in the first half of 2024, down from 3.9% in the same period of 2023. General and administrative expenses mainly consist of payroll, depreciation, office supplies and upkeep. General and administration expenses were $1.2 million in the first half of 2024, a decrease of 40.1% from $2.0 million in the same period of 2023. General and administration expenses as percentage of total revenues was 1.4% in the first half of 2024, down from 2.3% in the same period of 2023. Operating Loss Operating loss was $4.0 million for the first half of 2024, compared with the operating loss of $6.6 million in the same period of 2023. The decrease in operating loss for the first half of 2024 was mainly due the decrease of marketing expenses, as well as reduction of operating expenses as discussed above. Net Loss Net loss was $3.8 million , a decrease of 47.1% compared with net loss of $7.1 million in the same period of 2023, which was mainly due the factors mentioned above. Loss per Share The Company computes earnings (loss) per share ("EPS") in accordance with ASC 260, "Earnings per Share" ("ASC 260"). Each of the Company's Preferred Share has voting rights equal to two Ordinary Shares of the Company and each Preferred Share is convertible into one Ordinary Share at any time. Except for voting rights and conversion rights, the Ordinary Shares and the Preferred Shares rank pari passu with one another and have the same rights, preferences, privileges and restrictions. For the first half ended June 30, 2024 and 2023, respectively, the Company had no potential ordinary shares outstanding that could potentially dilute EPS in the future. Cash and Cash Equivalents For the first half of 2024, the Company reported a net loss of $3.8 million , a negative operating cash flow of $41,012 and an accumulated deficit of approximately $29.8 million . The Company's principal sources of liquidity are sales revenues, proceeds from a private placement and a registered direct offering. As of June 30, 2024 , the Company had cash and restricted cash of approximately $0.8 million , held by the variable interest entity (VIE) Shanghai Juhao Information Technology Co., Ltd. ("Shanghai Juhao") with banks and financial institutions inside China as the Company conducts its operations primarily through the consolidated VIE in China ; the Company's working capital as of June 30, 2024 was $13.4 million . Due to the uncertainty of the current market environment, management believes it is necessary to enhance the collection of its outstanding accounts receivable and other receivables, and to be cautious in terms of its operational decisions and project selections. As of October 31, 2024 , approximately $1.8 million , or 62%, of its accounts receivable balance as of June 30, 2024 were collected, and approximately $9.9 million , or 93%, of its advances to supplier balance as of June 30, 2024 were utilized. In addition, the Company's Form F-3 registration was declared effective on August 31, 2022 , and the Company may also seek equity financing from outside investors if necessary. Based on the latest business plan of the Company, Shanghai Juhao has reduced its promotion efforts and marketing expenditures since the second half of 2023, which reduced the cash used in operating activities. Management believes that the above-mentioned factors, including cash on hand of approximately $0.8 million , will provide sufficient liquidity for the Company to meet its future liquidity and capital requirements for at least the next twelve months. About Jowell Global Ltd . Jowell Global Ltd. (the "Company") is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China . We offer our own brand products to customers and also sell and distribute health and nutritional supplements, cosmetic products and certain household products from other companies on our platform. In addition, we allow third parties to open their own stores on our platform for a service fee based upon sale revenues generated from their online stores and we provide them with our unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. The Company also sells its products through authorized retail stores all across China , which operate under the brand names of " Love Home Store " or "LHH Store" and "Best Choice Store". For more information, please visit http://ir.1juhao.com/ . Exchange Rate The Company's financial information is presented in U.S. dollars ("USD"). The functional currency of the Company is the Chinese Yuan, Renminbi ("RMB"), the currency of the PRC. Any transactions which are denominated in currencies other than RMB are translated into RMB at the exchange rate quoted by the People's Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of operations as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, "Foreign Currency Matters". This press release contains translations of certain RMB amounts into U.S. dollars ("USD" or "$") at specified rates solely for the convenience of the reader. The exchange rates in effect as of June 30, 2024 and December 31, 2023 were RMB1 for $0.1403 and $0.1412 , respectively. The average exchange rates for the six months ended June 30, 2024 and 2023 were RMB1 for $0.1407 and $0.1444 , respectively. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov . The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For investor and media inquiries, please contact: Jowell Global Ltd. Ms. Jessie Zhao Email: IR@1juhao.com Jowell Global Ltd. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) ASSETS Current Assets: Cash $ 805,344 $ 1,250,281 Accounts receivable, net 2,344,481 2,401,056 Accounts receivable - related parties - 47,040 Advance to suppliers 10,050,688 3,506,432 Advance to suppliers - related parties 12,493,792 9,874,545 Inventories 4,508,515 8,198,402 Prepaid expenses and other current assets 1,075,591 1,384,758 Total current assets 31,278,411 26,662,514 Long-term investment 3,709,340 3,888,377 Property and equipment, net 845,579 681,942 Intangible assets, net 532,810 634,655 Right of use lease assets, net 1,506,729 2,019,300 Other non-current asset 638,723 895,775 Deferred tax assets 512,175 515,364 Total Assets $ 39,023,767 $ 35,297,927 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Short-term loan $ 210,473 $ 423,567 Accounts payable 2,791,515 3,765,230 Accounts payable - related parties 280,530 194,818 Deferred revenue 11,691,812 2,309,957 Deferred revenue - related parties 40,000 47,059 Current portion of operating lease liabilities 1,475,947 942,989 Accrued expenses and other liabilities 975,072 782,048 Due to related parties 414,585 528,472 Taxes payable 1,487 58,233 Total current liabilities 17,881,421 9,052,373 Non-current portion of operating lease liabilities - 1,032,235 Total liabilities 17,881,421 10,084,608 Commitments and contingencies Equity Common stock, $0.0016 par value, 450,000,000 shares authorized, 2,170,475 issued and outstanding at June 30, 2024 and December 31, 2023, respectively * 3,473 3,473 Preferred stock, $0.0016 par value, 50,000,000 shares authorized, 46,875 issued and outstanding at June 30, 2024 and December 31, 2023, respectively * 75 75 Additional paid-in capital 52,687,182 52,687,182 Statutory reserves 394,541 394,541 Accumulated deficit (29,768,863) (26,039,567) Accumulated other comprehensive loss (2,153,720) (1,843,970) Total Jowell Glob

How Trump’s bet on voters electing him managed to silence some of his legal woes

MANCHESTER, England (AP) — Manchester City's players were booed by their own fans Tuesday after blowing a three-goal lead against Feyenoord in the Champions League to extend their winless run to six games. Jeers rang around the Etihad Stadium after the final whistle of a dramatic 3-3 draw. After five-straight losses in all competitions, City looked to be cruising to victory after going three up inside 50 minutes. But Feyenoord mounted an improbable comeback and leveled the game in the 89th minute to leave the home crowd stunned. While the worst losing streak of Guardiola’s managerial career was brought to an end, his wait for a first win since Oct. 26 goes on. Erling Haaland had scored twice, with Ilkay Gundogan also on target to put City in control. But goals from Anis Hadj Moussa in the 75th, Santiago Gimenez in the 82nd and David Hancko in the 89th turned the game on its head. City's players, including Bernardo Silva, Josko Gvardiol and Haaland looked visibly frustrated as they left the field to cheers of the delirious traveling Dutch fans in the away section of the stadium. City plays Premier League leader Liverpool on Sunday — defeat would leave it 11 points adrift of its title rival. James Robson is at AP soccer:

OTTAWA—Conservative Leader Pierre Poilievre is challenging the government to disclose details about federal finances that are late to arrive this year, suggesting the Liberal administration is hiding bad news about the deficit. Poilievre stopped in front of a cluster of reporters Wednesday morning to say his party will carve out a two-hour window of time in the House of Commons on Monday so that Finance Minister Chrystia Freeland can deliver a fiscal update — a suggestion Freeland later rejected as “utterly absurd.” “Why won’t the finance minister tell us the true number? What’s she hiding? Is she hiding that Trudeau lost control of the deficit this year, just like every year?” Poilievre said, before refusing to take questions. “Stand on your feet Monday at 4 p.m. We’ll clear the deck so you can do it, and tell us how badly you’ve lost control of the nation’s finances and the inflation and taxes Canadians pay as a result.” The Liberal government is unusually late this year in publishing annual reports that included audited results from the previous fiscal year, sparking concerns from the current and former parliamentary budget watchdogs about a lack of spending transparency. Asked about the concerns on Tuesday, Freeland dodged questions about why they are delayed, saying only that the Liberal government would release the reports and present a mid-year fiscal update “this year.” Freeland has insisted the federal government’s fiscal standing is strong, with lower debt compared to peer countries in the Group of Seven. She has also suggested the economic update has not been released because of a weeks-long Conservative filibuster in the House, in which the Tories are blocking normal parliamentary business to try and force the government to hand over unredacted documents related to alleged corruption at an arms-length green tech agency. Freeland picked up that theme again on Wednesday, when she shot down Poilievre’s offer to clear time so she could provide the fiscal update in the House. “This proposal from the Conservatives is like an arsonist who set the fire in the first place, saying ‘Don’t worry about, I’ll come with a fire truck for a couple of hours, but tomorrow I’ll be back again with matches,’” Freeland told reporters, adding that she will present the fiscal update “soon.” Meanwhile, ahead of the Liberals’ cabinet meeting, Treasury Board President Anita Anand said Freeland is working “extremely hard” on providing a fall economic statement, and that Poilievre’s demand will not dictate when she presents it. “I’ll leave it to her to decide when to do that in the House of Commons ,” Anand said. “She’ll do it when she’s ready.” Industry Minister François-Philippe Champagne said he would take Poilievre’s demand with a “grain of salt” and noted the Conservatives have clogged Parliament with their filibuster. “Unlock the Parliament. There are serious things to be done,” he said. Asked about Poilievre’s offer, Bloc Québécois Leader Yves-François Blanchet said it’s irrelevant, since the government could release the economic update anywhere — they don’t need to do so in Parliament. He added, however, that he believes the Liberal government does not have a “credible” reading of the economic situation, and is pursuing election-ready policies “without understanding the real consequences that it could bring.” Last year, after a huge spike in federal spending during the COVID-19 pandemic , the Liberal government set itself a series of fiscal targets to keep government debt in check. Those targets included a pledge to cap Ottawa’s budget deficit at $40 billion and ensure federal debt declines in proportion to the size of the national economy. But it’s not clear whether the government has managed to hit that target. Reports that are published each year, typically before the end of October, show the audited results of the 2023-24 fiscal year, which ended in October, including the final size of the deficit. As of Wednesday evening, neither of those reports has been published this year. The government also usually presents a fall economic statement before the end of November, but so far the Liberal government has not done so. In October, Parliamentary Budget Officer Yves Giroux published a report that estimated the government blew past its promise to limit the deficit with a $46.8-billion shortfall last fiscal year. At a parliamentary committee on Tuesday, Giroux said it’s “very uncomfortable” for parliamentarians to be asked to vote on new government spending when they still have no access to the precise financial standing of the government. In recent days, the Liberals have proposed almost $6 billion in new spending to pay for a two-month GST holiday on a host of consumer goods — from Christmas trees and video games to beer and food — and to hand out $250 in one-time payouts to millions of Canadians who earned less than $150,000 in income last year. With files from Tonda MacCharles and Ryan TumiltyNEW YORK (AP) — An early rebound for U.S. stocks on Thursday petered out by the end of the day, leaving indexes close to flat. The S&P 500 edged down by 0.1% following Wednesday’s tumble of 2.9% when the Federal Reserve said it may deliver fewer cuts to interest rates next year than earlier thought. The index had been up as much as 1.1% in the morning. The Dow Jones Industrial Average rose 15 points, or less than 0.1%, following Wednesday’s drop of 1,123 points, while the Nasdaq composite slipped 0.1%. This week’s struggles have taken some of the enthusiasm out of the market, which critics had been warning was overly buoyant and would need everything to go correctly for it to justify its high prices. But indexes remain near their records , and the S&P 500 is still on track for one of its best years of the millennium with a gain of 23%. Traders are now expecting the Federal Reserve to deliver just one or maybe two cuts to interest rates next year, according to data from CME Group. Some are even betting on none. A month ago, the majority saw at least two cuts in 2025 as a safe bet. Wall Street loves lower interest rates because they give the economy a boost and goose prices for investments, but they can also provide fuel for inflation. Micron Technology was one of the heaviest weights on the S&P 500 Thursday. It fell 16.2% despite reporting stronger profit for the latest quarter than expected. The computer memory company’s revenue fell short of Wall Street’s forecasts, and CEO Sanjay Mehrotra said it expects demand from consumers to remain weaker in the near term. It gave a forecast for revenue in the current quarter that fell well short of what analysts were thinking. Lamb Weston, which makes French fries and other potato products, dropped 20.1% after falling short of analysts’ expectations for profit and revenue in the latest quarter. It also cut its financial targets for the fiscal year, saying demand for frozen potatoes is continuing to soften, particularly outside North America. The company replaced its chief executive. Such losses helped overshadow a 14.7% jump for Darden Restaurants, the company behind Olive Garden and other chains. It delivered profit for the latest quarter that edged past analysts’ expectations. The operator of LongHorn Steakhouses also gave a forecast for revenue for this fiscal year that topped analysts’. Accenture rose 7.1% after the professional services company likewise topped expectations for profit in the latest quarter. CEO Julie Sweet said it saw growth around the world, and the company raised its forecast for revenue this fiscal year. Amazon shares added 1.3%, even as workers at seven of its facilities went on strike Thursday in the middle of the online retail giant’s busiest time of the year. Amazon says it doesn’t expect an impact on its operations during what the workers’ union calls the largest strike against the company in U.S. history. In the bond market, yields were mixed a day after shooting higher on expectations that the Fed would deliver fewer cuts to rates in 2025. Reports on the U.S. economy came in mixed. One showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The economy has remained remarkably resilient even though the Fed held its main interest rate at a two-decade high for a while before beginning to cut them in September. A separate report showed fewer U.S. workers applied for unemployment benefits last week, an indication that the job market also remains solid. But a third report said manufacturing in the mid-Atlantic region is unexpectedly contracting again despite economists’ expectations for growth. The yield on the 10-year Treasury rose to 4.57% from 4.52% late Wednesday and from less than 4.20% earlier this month. But the two-year yield, which more closely tracks expectations for action by the Fed in the near term, eased back to 4.31% from 4.35%. The rise in longer-term yields has put pressure on the housing market by keeping mortgage rates higher. Homebuilder Lennar fell 5.2% after reporting weaker profit and revenue for the latest quarter than analysts expected. CEO Stuart Miller said that “the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose” through the quarter. “Even while demand remained strong, and the chronic supply shortage continued to drive the market, our results were driven by affordability limitations from higher interest rates,” he said. A report on Thursday may have offered some encouragement for the housing industry. It showed a pickup in sales of previously occupied homes. All told, the S&P 500 slipped 5.08 points to 5,867.08. The Dow Jones Industrial Average added 15.37 to 42,342.24, and the Nasdaq composite lost 19.92 to 19,372.77. In stock markets abroad, London’s FTSE 100 fell 1.1% after the Bank of England paused its cuts to rates and kept its main interest rate unchanged on Thursday. The move comes as inflation there moved further above the central bank’s 2% target rate, while the British economy is flatlining at best. The Bank of Japan also kept its benchmark interest rate unchanged, and Tokyo’s Nikkei 225 fell 0.7%. Indexes likewise sank across much of the rest of Asia and Europe. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

AP News Summary at 5:20 p.m. EST

Cooper, Batcho lead Louisiana Tech past Richmond 65-62

TORONTO — Canada's main stock index lost more than 100 points Tuesday ahead of an expected interest rate cut Wednesday, while U.S. markets were also down. The S&P/TSX composite index closed down 121.09 points at 25,504.33. In New York, the Dow Jones industrial average was down 154.10 points at 44,247.83. The S&P 500 index was down 17.94 points at 6,034.91, while the Nasdaq composite was down 49.45 points at 19,687.24. “Relative to the churn we have seen in the markets the last few days ... today being a little bit of a boring day would be fairly welcome for many investors,” said Stephen Duench, vice-president and portfolio manager for AGF Investments Inc. Wednesday is set to be more exciting, with an interest rate cut expected in Canada and important consumer inflation data coming in the U.S. “I do expect a little bit more fireworks tomorrow,” said Duench. The Bank of Canada is widely expected to announce an outsized cut Wednesday of half a percentage point, he said. “Anything other than that would be a surprise.” The U.S. Federal Reserve has its last decision of the year scheduled for next week, and market watchers are leaning toward a smaller quarter-percentage-point cut there, said Duench. It would be the third cut this year after the central bank hiked rates to a two-decade high to fight inflation. The inflation report will be the last significant data point before the central bank’s decision, Duench said. If the inflation report shows price growth is proving more stubborn than expected, that could change the Fed’s thinking on rates next week, he said. “Maybe that's part of the reason we've seen churn in the market the last few days in the U.S.” Beneath the surface, there was some movement in the tech sector, where Oracle sank 6.7 per cent after its latest earnings report missed expectations. Meanwhile, Google's stock price rose by more than five per cent. The company on Tuesday unveiled its new chip meant for quantum computing. Duench said after the advent of artificial technology led a rally earlier this year, quantum computing could be another frontier for investors to keep an eye on. The Canadian dollar traded for 70.59 cents US compared with 70.77 cents US on Monday. The January crude oil contract was up 12 cents at US$68.59 per barrel and the January natural gas contract was down two cents at US$3.16 per mmBTU. The February gold contract was up US$32.60 at US$2,718.40 an ounce and the March copper contract was down less than a penny at US$4.27 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 10, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian Press

NEW YORK (AP) — Stocks closed higher on Wall Street, sending the Dow Jones Industrial Average to another all-time high. The Dow added 1% Monday to the record it set on Friday. The S&P 500 rose 0.3%, while the Nasdaq composite rose 0.3%. Treasury yields eased in the bond market after President-elect Donald Trump said he wants Scott Bessent, a hedge fund manager, to be his Treasury Secretary. Smaller companies can feel a big boost from easier borrowing costs, and the Russell 2000 index of small stocks jumped 1.5%, closing just shy of the record high it set three years ago. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — Wall Street is set to break more records Monday as U.S. stocks rise to add to last week’s gains. The S&P 500 was 0.2% higher, as of 3 p.m. Eastern time, and sitting just below its all-time high set two weeks ago. The Dow Jones Industrial Average added 397 points, or 0.9%, to its own record set on Friday, while the Nasdaq composite was 0.1% higher. Treasury yields also eased in the bond market amid what some analysts called a “Bessent bounce” after President-elect Donald Trump said he wants Scott Bessent , a hedge fund manager, to be his Treasury Secretary. Bessent has argued for reducing the U.S. government’s deficit, which is how much more it spends than it takes in through tax and other revenue. Such an approach could soothe worries on Wall Street that Trump’s policies may lead to a much bigger deficit, which in turn would put upward pressure on Treasury yields. After climbing above 4.44% immediately after Trump’s election, the yield on the 10-year Treasury fell back to 4.26% Monday and down from 4.41% late Friday. That’s a notable move, and lower yields help make it cheaper for all kinds of companies and households to borrow money. They also give a boost to prices for stocks and other investments. That helped stocks of smaller companies lead the way, and the Russell 2000 index of smaller stocks jumped 2%. It’s set to top its all-time high, which was set three years ago. Smaller companies can feel bigger boosts from lower borrowing costs because of the need of many to borrow to grow. The two-year Treasury yield, which more closely tracks the market’s expectations for what the Federal Reserve will do with overnight interest rates, also eased sharply. The Fed began cutting its main interest rate just a couple months ago from a two-decade high, hoping to keep the job market humming after bringing high inflation nearly all the way down to its 2% target. But immediately after Trump’s victory, traders had reduced bets for how many cuts the Fed may deliver next year. They were worried Trump's preference for lower tax rates and higher spending on the border would balloon the national debt. . A report coming on Wednesday could influence how much the Fed may cut rates. Economists expect it to show that an underlying inflation trend the Fed prefers to use accelerated to 2.8% last month from 2.7% in September. Higher inflation would make the Fed more reluctant to cut rates as deeply or as quickly as it would otherwise. Goldman Sachs economist David Mericle expects that to slow by the end of next year to 2.4%, but he said inflation would be even lower if not for expected tariff increases on imports from China and autos favored by Trump. In the stock market, Bath & Body Works jumped 19.1% after delivering stronger profit for the latest quarter than analysts expected. The seller of personal care products and home fragrances also raised its financial forecasts for the full year, even though it still sees a “volatile retail environment” and a shorter holiday shopping season this year. Much focus has been on how resilient U.S. shoppers can remain, given high prices across the economy and still-high interest rates. Last week, two major retailers sent mixed messages. Target tumbled after giving a dour forecast for the holiday shopping season. It followed Walmart , which gave a much more encouraging outlook. Another big retailer, Macy’s, said Monday its sales for the latest quarter were in line with its expectations, but it will delay the release of its full financial results. It found a single employee had intentionally hid up to $154 million in delivery expenses, and it needs more time to complete its investigation. Macy’s stock fell 2.9%. Among the market's leaders were several companies related to the housing industry. Monday's drop in Treasury yields could translate into easier mortgage rates, which could spur activity for housing. Builders FirstSource, a supplier or building materials, rose 6.2%. Homebuilders, D.R. Horton, PulteGroup and Lennar all rose at least 5.8%. In stock markets abroad, indexes moved modestly across much of Europe after finishing mixed in Asia. In the crypto market, bitcoin was trading around $96,800 after threatening to hit $100,000 late last week for the first time. ___ AP Business Writer Elaine Kurtenbach contributed. Stan Choe, The Associated Press

Sheridan College says it's putting 40 programs on hold and laying off staff as it faces a dramatic drop in enrolment. The college estimates that it will have about 30 per cent fewer students next year, resulting in a $112-million drop in revenue, according to a statement from its president, Janet Morrison. An additional 27 programs will under go an "efficiency review," Morrison said. "These changes are required for Sheridan to remain a financially sustainable and vibrant community in response to chronic underfunding, changing government policies, and social, technological, and economic disruption," Morrison said. "Sheridan will look different, but our commitment to learning, discovery and engagement remains the same." Canada's post-secondary industry predicts a storm ahead, as budget cuts shrink courses, staff Seneca Polytechnic to close Markham campus citing 'dramatic drop' in number of international students The programs being suspended include 13 in the faculty of applied science and technology, 13 business programs, six in the faculty of animation, arts and design, five in the faculty of applied health and community studies and three in humanities and social sciences. Students who are currently enrolled in these programs will still be able to graduate, the college's website says. Sheridan College is the latest school to face financial challenges after the federal government announced a cap on study permits for international post-secondary students. The government has said the cap is meant to reduce the number of new student visas by more than a third this year. The government said it would approve approximately 360,000 undergraduate study permits for 2024 — a 35 per cent reduction from 2023. Ontario colleges to face biggest hit from foreign student cap In September, the Liberal government said it would further slash the number of international student permits it issues by 10 per cent. Deciding how to divvy up the allocation of permits among post-secondary institutions is up to the provincial government, which announced in March that colleges would face the biggest drop in their international student numbers. The Ford government's 2024 budget revealed that Ontario's colleges will lose out on $3.1 billion in revenue over the next two years from the expected drop in international student enrolment. Morrison's statement doesn't blame the international student cap directly, but a backgrounder posted on the college's website does point to "shrinking domestic enrolment" and "dramatic shifts in government policy" as factors. Dayna Smockum, a spokesperson for Ontario's Ministry of Colleges and Universities, said the province will continue to support the post-secondary sector to ensure students can get good paying, in-demand jobs once they graduate. She pointed out that in February, the government announced a $1.3-billion boost to post-secondary funding spread out over the next three years However, she said staffing decisions and human resource matters "lie solely with the institutions."ESTERO, Fla. (AP) — Kaden Cooper led Louisiana Tech with 16 points, and Daniel Batcho and Amaree Abram made key free throws in the closing seconds as the Bulldogs defeated Richmond 65-62 on Tuesday. Cooper added nine rebounds and four steals for the Bulldogs (6-0). Batcho scored 13 points, going 4 of 6 and 5 of 7 from the free-throw line. Abram shot 3 for 13 (2 for 7 from 3-point range) and 4 of 4 from the free-throw line to finish with 12 points, while adding six rebounds. Delonnie Hunt finished with 26 points and three steals for the Spiders (3-4). Abram scored eight points in the first half and Louisiana Tech went into halftime trailing 35-27. Sean Newman Jr. scored a team-high 12 points for Louisiana Tech in the second half. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .

Trevor Lawrence goes on IR in likely end to season after vicious Azeez Al-Shaair hit