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bet777 LA Lakers offering two players to teams in ‘active’ trade talksHow you can cash in on DEAL MANIA By ANNE ASHWORTH Updated: 21:50, 6 December 2024 e-mail View comments An astonishing £52billion worth of UK-listed businesses have succumbed to bids or mergers in 2024, in a feeding frenzy of deals that provokes concern – but also indicates an opportunity. The shrinking of our stock market is bad news for the economy – the pace of departures is the fastest for a decade. But the payback for investors from takeover mania can be gratifying, suggesting that British shares are worth a bet now. So, enough of Black Friday and its often-so-so bargains. Is this the area where you could make a mint, especially given this week's forecast from the Swiss fund management group Pictet that the UK market could be less adversely affected than the rest of Europe by the Trump administration's tariffs policy? Trade buyers and US private equity groups are eager to indulge their appetite for businesses that appear irresistibly cheap and may not stay that way. The 45 companies that have been swallowed up include the packaging company DS Smith, cybersecurity group Darktrace, the financial platform Hargreaves Lansdown and the bank Virgin Money. Done deal: An astonishing £52billion worth of UK-listed businesses have succumbed to bids or mergers in 2024 Carlsberg's £3.3billion purchase of Britvic is being investigated by the Competition and Markets Authority watchdog. But the year's most controversial transaction is Czech billionaire Daniel Kretinsky's campaign to seize control of the Royal Mail owner IDS in a £3.6billion deal. Why is UK plc so alluring to predators? Ian Lance and Nick Purves, managers of the Temple Bar investment trust, say that shares have been ground down by short-term pessimism – and by UK pension funds preferring to put money into the US and other markets. So enticing are the bargains that have been produced that would-be bidders are not putting their plans on hold for Christmas. The 'takeover juggernaut keeps on trucking', in the words of Dan Coatsworth, analyst at broker AJ Bell, with a spate of offers for household names and more obscure firms in past days. Yesterday, the insurer Aviva moved closer to winning control of embattled rival Direct Line with a £3.6billion offer. The combined group will control one-fifth of the motor insurance market. The rumoured interest from several parties in ITV could turn into a tense drama, amid the perception that there is 'trapped value' in its studios arm which delivers shows as diverse as Love Island and Coronation Street. Also, the success of ITV X, its streaming service, has confounded expectations. The belief that the takeover talk could now be credible has led one analyst to speculate that ITV could be worth £4.5billion, against its current market capitalisation of £2.7billion. Suitors are also lining up for smaller enterprises. The Australian asset manager Macquarie has offered £700m offer for Renewi, the London-listed Belgian waste disposal business. RELATED ARTICLES Previous 1 Next Wealth preservation trusts can protect you and turn a profit... Can fund managers bounce back from a bad run, or is your... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account Meanwhile, the FTSE 250 engineering firm TI Fluid Systems is to be acquired for £1billion by a Canadian competitor ABC Technologies, which is owned by the £250billion US private equity giant Apollo Global Management. It has also been revealed that the AIM-listed gold mining company Metals Exploration is snapping up Condor Gold for about £67.5m. Metals Exploration is backed by the investment vehicle of Nick Candy, the property developer famous for the One Hyde Park super-luxe apartment scheme in Knightsbridge, and his marriage to actress and singer Holly Valance. If you are checking your portfolio for exposure to this spending spree through individual stocks, funds and trusts, be aware that a bid approach may not culminate in an investor bounty. Lance and Purves point out that two holdings in their trust's portfolio – Anglo American and Currys – have fended off attempts to curtail their independence. Currys argued that a £757m offer from US activist investor Elliott Partners was far too low. A fair contention, it seems, since the share price of the electrical retailer is now 73 per cent higher than a year ago. There is also mounting disquiet among fund managers over what they see as the paltry sums being paid by predators – which should also raise the ire of private investors. There is particular dismay over one business. The cafe bar company Loungers is to be bought for £338m by New York private equity player Fortress, whose past UK acquisitions include Curzon Cinemas, Majestic Wines, Poundstretcher stores and Punch pubs. Axa Investment Managers is just one of the shareholders who are unhappy. Nick Hawthorn, manager of the Downing Strategic Multi-cap fund, argues that the 310p-a-share being paid by Fortress represents a 'derisory 30 per cent premium' on the Loungers share price, which was hard hit by the Budget's employer National Insurance raid and other measures. Loungers disputes these claims. Yet they should serve as an alert to anyone who wants to make the most of bid and merger mania but who does not want to be short-changed. This is our guide: Where to invest Cashing in: Nick Candy and wife Holly Valance So attractive are the valuations of UK shares at present that some analysts argue that 'everything is for sale'. This assessment may be an exaggeration. Yet it will heighten the focus on names whose shares have fallen in past months such as the convenience store chain B&M, the drinks group Diageo and the bank Schroders – its price is down by 27 per cent this year. US buyout company Advent is, reportedly, poised to pounce on Tate & Lyle, the flavourings group. Since it is difficult to tell whether such reports are speculation or fact, it may be wise to put some cash into a UK trust or fund gives you a stake in the action – and a chance for future appreciation. Suitable choices include Fidelity Special Situations, Fidelity Special Values, Jupiter UK Dynamic and Temple Bar – which is my pick. Trusts that could pay dividends There has already been a large amount of consolidation in the investment trust sector. The Alliance and Witan trusts got together to form Alliance Witan which joined the FTSE 100 this week. If you are ready for adventure, James Carthew of QuotedData suggests renewable energy trusts, such as Bluefield Solar, Greencoat Renewables or NextEnergy Solar. Some of their share prices are at a discount of 30 per cent to the net asset value (NAV), making them a possibly enticing target. Greencoat also provides a 7.8 per cent dividend yield – some consolation if a predator fails to appear on the scene. Have your cake and eat it, too Ben Yearsley of Fairview Investing is not a fan of investing in a share simply because a bid could appear. He says: 'I tell my clients that you should buy what you normally buy, based on the company's credentials and prospects.' If a bid materialises, this is the icing on the cake. He continues: 'Standard Chartered has been the subject of takeover rumours for about three years. None has materialised. 'If you invested three years ago, believing this to be a bank that could make a comeback, you would have been rewarded with a share price rise of 126 per cent and enjoyed dividends along the way. What's more, the share price could advance by a further 20-30 per cent.' Don't rely on a bid The luxury goods industry is set for consolidation, its Asian clientele having become reluctant to spend. But companies seeking to make acquisitions in this sector can prefer a brand that is on its way to revival, rather than starting on the journey. This means holders of the iconic British fashion house Burberry (like me) may need to be forbearing as it tries to retain its style credentials through ads featuring Oscar-winning actress Olivia Colman, Chelsea and England footballer Cole Palmer, and Alex Hassell and David Tennant, stars of Disney+ series Rivals. For the moment, the handbag maker Mulberry has evaded the clutches of Fraser founder Mike Ashley. Yet close attention will be paid to the success of boss Andrea Baldo's drive to remodel the business. 'Watch and wait' should be your motto. What to do in the case of a bid It is tempting to be dazzled by an offer for a company in which you hold shares, especially if it is pitched at 20-30 per cent above the share price. But the offer may not necessarily reflect the company's prospects. Most bids are cash only. But if there is a mix of cash and shares, you have to weigh up whether you consider the bidder worth backing. If you hold your shares through a platform, you will receive information about the bid and be able to sell your shares without a fee if the offer is approved by the company's board and so become official. If the shares trade at about the level of the bid, it may be worth selling before this time in case the deal is derailed. 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We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence. More top storiesUrgent holiday warning issued as five killed including Brit lawyer in 'fake booze poisoning' in backpacker...

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Walmart , the world’s largest retailer, is rolling back its diversity, equity and inclusion policies, joining a list of major corporations that have been under pressure by conservative activists. The company confirmed on Monday to The Associated Press that it will better monitor its third-party marketplace items to make sure they don’t feature sexual and transgender products aimed at minors. That would include chest binders intended for youth who are going through a gender change, the company said. The Bentonville, Arkansas-based retailer will also be reviewing grants to Pride events to make sure it is not financially supporting sexualized content targeting kids. For example, the company wants to makes sure a family pavilion is not next to a drag show at a Pride event, the company said. Walmart will also no longer consider race and gender as a way to increase diversity when it offers supplier contracts. The company said it didn't have quotas and will not do so going forward. It will stop collecting demographic data when determining financing eligibility for those grants. “We’ve been on a journey and know we aren’t perfect, but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone,” the company said in a statement. Walmart confirmed the changes after conservative political commentator and anti-DEI activist Robby Starbuck posted on X that he was in touch with the retailer about a story he was doing about “wokeness” and he said he ended up having "productive conversations” with Walmart. "This is the biggest win yet for our movement to end wokeness in corporate America," wrote Starbuck, who has gone after companies including Deere & Co., Lowe's, Tractor Supply and Boeing.

Fox attorneys seek to dismiss shareholder lawsuit over reporting of vote rigging allegations in 2020

LASPOTECH Dissolves Governing Council As LASUSTECH Takes OverNEW YORK (AP) — U.S. stocks rose to records Friday after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation . The S&P 500 climbed 0.2%, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 123.19 points, or 0.3%, while the Nasdaq composite rose 0.8% to set its own record. The quiet trading came after the latest jobs report came in mixed enough to strengthen traders’ expectations that the Federal Reserve will cut interest rates again at its next meeting in two weeks. The report showed U.S. employers hired more workers than expected last month, but it also said the unemployment rate unexpectedly ticked up to 4.2% from 4.1%. “This print doesn’t kill the holiday spirit and the Fed remains on track to deliver a cut in December,” according to Lindsay Rosner, head of multi-sector investing within Goldman Sachs Asset Management. The Fed has been easing its main interest rate from a two-decade high since September to offer more help for the slowing job market, after bringing inflation nearly all the way down to its 2% target. Lower interest rates can ease the brakes off the economy, but they can also offer more fuel for inflation. Expectations for a series of cuts from the Fed have been a major reason the S&P 500 has set an all-time high 57 times so far this year. And the Fed is part of a global surge: 62 central banks have lowered rates in the past three months, the most since 2020, according to Michael Hartnett and other strategists at Bank of America. Still, the jobs report may have included some notes of caution for Fed officials underneath the surface. Scott Wren, senior global market strategist at Wells Fargo Investment Institute, pointed to average wages for workers last month, which were a touch stronger than economists expected. While that’s good news for workers who would always like to make more, it could keep upward pressure on inflation. “This report tells the Fed that they still need to be careful as sticky housing/shelter/wage data shows that it won’t be easy to engineer meaningfully lower inflation from here in the nearer term,” Wren said. So, while traders are betting on an 85% probability the Fed will ease its main rate in two weeks, they’re much less certain about how many more cuts it will deliver next year, according to data from CME Group. For now, the hope is that the job market can help U.S. shoppers continue to spend and keep the U.S. economy out of a recession that had earlier seemed inevitable after the Fed began hiking interest rates swiftly to crush inflation. Several retailers offered encouragement after delivering better-than-expected results for the latest quarter. Ulta Beauty rallied 9% after topping expectations for both profit and revenue. The opening of new stores helped boost its revenue, and it raised the bottom end of its forecasted range for sales over this full year. Lululemon stretched 15.9% higher following its own profit report. It said stronger sales outside the United States helped it in particular, and its earnings topped analysts’ expectations. Retailers overall have been offering mixed signals on how resilient U.S. shoppers can remain amid the slowing job market and still-high prices. Target gave a dour forecast for the holiday shopping season, for example, while Walmart gave a much more encouraging outlook. A report on Friday suggested sentiment among U.S. consumers may be improving more than economists expected. The preliminary reading from the University of Michigan’s survey hit its highest level in seven months. The survey found a surge in buying for some products as consumers tried to get ahead of possible increases in price due to higher tariffs that President-elect Donald Trump has threatened. In tech, Hewlett Packard Enterprise jumped 10.6% for one of the S&P 500’s larger gains after reporting stronger profit and revenue than expected. Tech stocks were some of the market’s strongest this week, as Salesforce and other big companies talked up how much of a boost they’re getting from the artificial-intelligence boom. All told, the S&P 500 rose 15.16 points to 6,090.27. The Dow dipped 123.19 to 44,642.52, and the Nasdaq composite climbed 159.05 to 19,859.77. In the bond market, the yield on the 10-year Treasury yield slipped to 4.15% from 4.18% late Thursday. In stock markets abroad, France’s CAC 40 rose 1.3% after French President Emmanuel Macron announced plans to stay in office until the end of his term and to name a new prime minister within days. Earlier this week, far-right and left-wing lawmakers approved a no-confidence motion due to budget disputes, forcing Prime Minister Michel Barnier and his cabinet to resign. In Asia, stock indexes were mixed. They rallied 1.6% in Hong Kong and 1% in Shanghai ahead of an annual economic policy meeting scheduled for next week. South Korea’s Kospi dropped 0.6% as South Korea’s ruling party chief showed support for suspending the constitutional powers of President Yoon Suk Yeol after he declared martial law and then revoked that earlier this week. Yoon is facing calls to resign and may be impeached. Bitcoin was sitting near $101,500 after briefly bursting above $103,000 to a record the day before. AP Writers Matt Ott and Zimo Zhong contributed.Insurgents reach gates of Syria’s capital, threatening to upend decades of Assad rule BEIRUT (AP) — A Syrian opposition war monitor and a pro-government media outlet say government forces have withdrawn from much of the central city of Homs. The pro-government Sham FM reported that government forces took positions outside Syria’s third-largest city, without elaborating. Rami Abdurrahman who heads the Britain-based Syrian Observatory for Human Rights, said Syrian troops and members of different security agencies have withdrawn from the city, adding that rebels have entered parts of it. Losing Homs is a potentially crippling blow for Syria’s embattled leader, Bashar Assad. An archbishop's knock formally restores Notre Dame to life as winds howl and heads of state look on PARIS (AP) — France’s iconic Notre Dame Cathedral has formally reopened its doors for the first time since a devastating fire nearly destroyed the 861-year-old landmark in 2019. The five-year restoration is widely seen as a boost for French President Emmanuel Macron, who championed the ambitious timeline, and brings a welcome respite from his domestic political woes. World leaders, dignitaries, and worshippers gathered on Saturday evening for the celebrations under the cathedral's soaring arches. The celebration was attended by 1,500 dignitaries, including President-elect Donald Trump, Britain’s Prince William, and Ukrainian President Volodymyr Zelenskyy. For Catholics, Notre Dame’s rector said the cathedral “carries the enveloping presence of the Virgin Mary, a maternal and embracing presence.′′ Trump is welcomed by Macron to Paris with presidential pomp and joined by Zelenskyy for their talks PARIS (AP) — French President Emmanuel Macron has welcomed Donald Trump to Paris with a full dose of presidential pomp. And they held a hastily arranged meeting with Ukraine’s Volodymyr Zelenskyy on a day that's mixing pageantry with attention to pressing global problems. The president-elect's visit to France is part of a global a celebration of the reopening of Notre Dame Cathedral five years after a devastating fire. Macron and other European leaders are trying to win Trump’s favor and persuade him to maintain support for Ukraine in its defense against Russia’s invasion. Trump isn't back in office but he's already pushing his agenda and negotiating with world leaders NEW YORK (AP) — Donald Trump is making threats, traveling abroad, and negotiating with world leaders. He has more than a month-and-a-half to go before he’s sworn in for a second term. But the president-elect is already moving aggressively to not only fill his Cabinet and outline policy goals, but also to try to achieve his priorities. In recent days, Trump has threatened to impose a 25% tariff on goods from Canada and Mexico, two of the country’s largest trading partners. That led to emergency calls and a visit. And he's warned of “ALL HELL TO PAY” if Hamas doesn't release the hostages still being held captive in Gaza. South Korea's president avoids an impeachment attempt over short-lived martial law SEOUL, South Korea (AP) — South Korea’s embattled President Yoon Suk Yeol has avoided an opposition-led attempt to impeach him over his short-lived imposition of martial law. Most of Yoon's ruling party lawmakers boycotted a parliamentary vote Saturday to deny a two-thirds majority needed to suspend his presidential powers. The scrapping of the motion is expected to intensify protests calling for Yoon’s ouster and deepen political chaos in South Korea. A survey suggests a majority of South Koreans support the president’s impeachment. Yoon’s martial law declaration drew criticism from his own ruling conservative People Power Party. But the party also apparently fears losing the presidency to liberals. Days after gunman killed UnitedHealthcare's CEO, police push to ID him and FBI offers reward NEW YORK (AP) — Nearly four days after the shooting of UnitedHealthcare CEO Brian Thompson, police still do not know the gunman’s name or whereabouts or have a motive for the killing. But they have made some progress in their investigation into Wednesday's killing of the leader of the largest U.S. health insurer, including that the gunman likely left New York City on a bus soon after fleeing the scene. The also found that the gunman left something behind: a backpack that was discovered in Central Park. Police are working with the FBI, which on Friday night announced a $50,000 reward for information leading to an arrest and conviction. UnitedHealthcare CEO's shooting opens a door for many to vent frustrations over insurance The fatal shooting of UnitedHealthcare's CEO has opened the door for many people to vent their frustrations and anger over the insurance industry. The feelings of exasperation, anger, resentment, and helplessness toward insurers aren’t new. But the shooting and the headlines around it have unleashed a new wave of patients sharing such sentiments and personal stories of interactions with insurance companies. Conversations at dinner tables, office water coolers, social gatherings and on social media have pivoted to the topic. Many say they hope the new amplified voices can bring about change for companies often accused of valuing profits over people. 2 Pearl Harbor survivors, ages 104 and 102, return to Hawaii to honor those killed in 1941 attack PEARL HARBOR, Hawaii (AP) — The bombing of Pearl Harbor 83 years ago launched the United States into World War II. Two survivors have returned to the Hawaii military base for a remembrance ceremony on the attack's anniversary. Both are over 100 years old. They joined active-duty troops, veterans and members of the public for an observance hosted by the Navy and the National Park Service. A third survivor was planning to join them but had to cancel due to health issues. The bombing killed more than 2,300 U.S. servicemen. An explosion destroys an apartment block in a Dutch city, killing at least 3 and injuring others THE HAGUE, Netherlands (AP) — An explosion and fire has rocked a neighborhood in the Dutch city of The Hague, killing three people and injuring other people and destroying several apartments. The cause of the disaster is unclear. Emergency authorities said four people were rescued from the rubble and taken to the hospital. The mayor said rescuers were no longer looking for survivors but for eventual bodies, but could not specify how many people might still be unaccounted for. Residents of the northeastern neighborhood of Mariahoeve in The Hague heard a huge bang and screams before dawn. Dutch authorities have deployed a specialized urban search and rescue team to find victims. How 'Mufasa' rose with Aaron Pierre and Blue Ivy's voices along with new Lin-Manuel Miranda music SAN DIEGO (AP) — When Aaron Pierre was cast as Mufasa, the weight of following in the late James Earl Jones’ legendary footsteps was enough to rattle any actor. But instead of letting the pressure roar too loudly, he harnessed his nerves to breathe fresh life into his young lion character. Pierre found parallels between himself and his character while filming his leading role in “Mufasa: The Lion King,” which opens in theaters Dec. 20. He took the reigns as the new voice of Mufasa after Jones played the iconic King Mufasa in both the 1994 and 2019 versions of Disney’s “The Lion King.” The prequel offers a fresh exploration into Mufasa’s origin story.AP News Summary at 6:54 p.m. EST

Villa held to 0-0 draw by depleted JuventusNikki Kaye was an MP for Auckland Central. Photo: RNZ A close friend of Kaye's, who did not want to be named, told RNZ the former MP for Auckland Central passed away after a long battle with cancer. Former colleague and National MP Maggie Barry posted on Facebook today a picture of the pair with the caption "farewell my friend". Kaye was in Parliament for 12 years, entering in 2008 aged 28, before announcing in July 2020 she wouldn't contest the upcoming election. Kaye had worked for Bill English when he was Leader of the Opposition in 2002. In January 2013, she was appointed to Cabinet by then Prime Minister Sir John Key, eventually holding ministerial (and associate) responsibilities for ACC, Civil Defence, Education, Food Safety, Immigration, Youth and Youth Affairs over the next seven years. In 2016, Kaye took leave after being diagnosed with breast cancer at 36 and returned to Parliament and her ministerial roles in 2017 after successful treatment. She held the electorate of Auckland Central during her entire time in Parliament, overthrowing Labour's Judith Tizard in 2008, and was the first National MP to win the electorate. She became the Deputy Leader of the National Party in May 2020 when Todd Muller took over from Simon Bridges. Kaye has always been more on the socially liberal side of the National Party, voting in favour of MP Louisa Wall's Marriage (Definition of Marriage) Amendment Act 2013, allowing same-sex couples to legally marry. In an interview with RNZ's Nine to Noon programme in 2020, Kaye spoke about having breast cancer. "The other thing is, being diagnosed with breast cancer, and I've not talked in detail about my health before, I don't see life as a situation whereby you can always plan things and my view is that you have to live every moment and I have given everything to the party and the country," she said in tears. "You have to know when your time is up and you've given it your all." Prime Minister and National Party leader Christopher Luxon and Deputy Leader Nicola Willis said they are deeply saddened by the passing of Kaye. Luxon said in a statement Kaye was a cherished colleague, friend, and former minister. "Nikki's contribution to our party, her community, and New Zealand has left an indelible mark. Her tireless dedication, sharp intellect, and tenacity earned her the respect of people across the political spectrum," Luxon says. "Nikki was a remarkable person and a crusader for what she believed in, and her contribution has left our country in a better place." Willis said Kaye was one of the bravest Parliamentarians New Zealand has seen. "She was not only a colleague, but a brilliant friend to many of us. She was fiercely committed to her constituents and her values and she contributed so much of her soul to this country party and our party. "Our thoughts are with her family and loved ones during this incredibly difficult time," Willis says.

Matt Gaetz says he won’t return to Congress next year after withdrawing name for attorney general

AP News Summary at 6:54 p.m. ESTLITTLE ROCK, Ark. (AP) — Voters dejected by the presidential election results need to find a way to give back and remain involved, Bill and Hillary Rodham Clinton said Saturday as they celebrated the 20th anniversary of the Clinton presidential library. The former president urged audience members in a packed theater to remain engaged and find ways to communicate with those they disagree with despite a divisive political time. The two spoke about a month after former President Donald Trump's win over Vice President Kamala Harris in the presidential election. “We’re just passing through, and we all need to just calm down and do something that builds people up instead of tears them down,” Bill Clinton said. Hillary Clinton, the former secretary of state who was defeated by Trump in the 2016 election, said she understands the next couple of years are going to be challenging for voters who don't agree with the decisions being made. "In addition to staying involved and staying aware, it’s important to find something that makes you feel good about the day because if you’re in a constant state of agitation about our political situation, it is really going to shorten your life," she said. The Clintons spoke during a panel discussion with journalist Laura Ling, who the former president helped free in 2009 when she was detained in North Korea with another journalist. The event was held as part of a weekend of activities marking the 20th anniversary of the Clinton Presidential Library's opening in Little Rock. The library is preparing to undergo an update of its exhibits and an expansion that will include Hillary Clinton's personal archives. Hillary Clinton said part of the goal is to modernize the facility and expand it to make it a more open, inviting place for people for convene and make connections. When asked about advice he would give for people disappointed by the election results, Bill Clinton said people need to continue working toward bringing people together and improving others' lives. “If that's the way you keep score, then you ought to be trying to run up the score,” he said. “Not lamenting the fact that somebody else is winning a different game because they keep score a different way." “And in addition, figure out what we can do to win again,” Hillary Clinton added, eliciting cheers. The program featured a panel discussion with cast members of the hit NBC show “The West Wing” and former Clinton White House staffers. The weekend amounted to a reunion of former Clinton White House staffers, supporters and close friends, including former Virginia Gov. Terry McAuliffe and adviser James Carville. McAuliffe said he and Carville ate Friday at Doe's Eat Place, a downtown restaurant that was popular with Clinton aides and reporters during Clinton's 1992 White House run. He said he viewed the library and its planned expansion as important for the future. “This is not only about the past, but it's more importantly about the future," McAuliffe said. “We just went through a very tough election, and people are all saying we've got to get back to the Clinton model.”NEW YORK (AP) — He's making threats, traveling abroad and negotiating with world leaders. Donald Trump has more than a month and a half to go before he's sworn in for a second term. But the Republican president-elect is already moving aggressively not just to fill his Cabinet and outline policy goals, but to achieve them. Trump has threatened to impose a 25% tariff on goods from Canada and Mexico, prompting emergency calls and a visit from Canada's prime minister that resulted in what Trump claimed were commitments from both U.S. allies on new border security measures. The incoming president has warned there will be “ALL HELL TO PAY" if Hamas does not release the hostages being held in Gaza before his inauguration on Jan. 20, 2025. And this weekend, Trump returned to the global stage, joining a host of other foreign leaders for the reopening of the Notre Dame Cathedral five years after it was ravaged by a fire. There, he was welcomed like a sitting dignitary , with a prime seat next to French President Emmanuel Macron . Absent in Paris: lame duck President Joe Biden, who has largely disappeared from headlines, except when he issued a pardon of his son , Hunter, who was facing sentencing for gun crimes and tax evasion. First lady Jill Biden attended in his place. “I think you have seen more happen in the last two weeks than you’ve seen in the last four years. And we’re not even there yet,” Trump said in an over-the-top boast at an awards ceremony Thursday night . For all of Trump's bold talk, though, it is unclear how many of his efforts will bear fruit. The pre-inauguration threats and deal-making are highly unusual, like so much of what Trump does, said Julian Zelizer, a political historian at Princeton University. “Transitions are always a little complicated in this way. Even though we talk about one president at a time," he said, “the reality is one president plus. And that plus can act assertively sometimes." Zelizer said that is particularly true of Trump, who was president previously and already has relationships with many foreign leaders such as Macron, who invited both Trump and Biden to Paris this weekend as part of the Notre Dame celebration. “Right now he’s sort of governing even though he’s not the president yet. He’s having these public meetings with foreign leaders, which aren't simply introductions. He's staking out policy and negotiating things from drug trafficking to tariffs," Zelizer said. Trump had already met with several foreign leaders before this weekend's trip. He hosted Argentinian President Javier Milei in Florida at his Mar-a-Lago club in November. After the tariff threat, Canadian Prime Minister Justin Trudeau made a pilgrimage to Mar-a-Lago for a three-hour dinner meeting. Canadian officials later said the country is ready to make new investments in border security, with plans for more helicopters, drones and law enforcement officers. Incoming Trump aides have also been meeting with their future foreign counterparts. On Wednesday, several members of Trump's team, including incoming national security adviser Mike Waltz, met with Andriy Yermak, a top aide to Zelenskyy, in Washington, as Ukraine tries to win support for its ongoing efforts to defend itself from Russian invasion, according to a person familiar with the meeting. Yermak also met with Trump officials in Florida, he wrote on X . That comes after Trump's incoming Middle East envoy, Steve Witkoff, traveled to Qatar and Israel for high-level talks about a cease-fire and hostage deal in Gaza, according to a U.S. official familiar with the efforts, meeting with the prime ministers of both countries. The official was not authorized to publicly discuss the matter and spoke on condition of anonymity. There is no prohibition on incoming officials or nominees meeting with foreign officials, and it is common and fine for them to do so — unless those meetings are designed to subvert or otherwise impact current U.S. policy. Trump aides were said to be especially cognizant of potential conflicts given their experience in 2016, when interactions between Trump allies and Russian officials came under scrutiny. That included a phone call in which Trump's incoming national security adviser, Michael Flynn, discussed new sanctions with Russia’s ambassador to the United States, suggesting things would improve after Trump became president. Flynn was later charged with lying to the FBI about the conversation. Trump’s incoming press secretary Karoline Leavitt said that “all transition officials have followed applicable laws in their interactions with foreign nationals.” She added: “World leaders recognize that President Trump is returning to power and will lead with strength to put the best interests of the United States of America first again. That is why many foreign leaders and officials have reached out to correspond with President Trump and his incoming team.” Such efforts can nonetheless cause complications. If, say, Biden is having productive conversations on a thorny foreign policy issue and Trump weighs in, that could make it harder for Biden “because people are hearing two different voices” that may be in conflict, Zelizer said. Leaders like Russia's Vladimir Putin and Netanyahu may also anticipate a more favorable incoming administration and wait Biden out, hoping for a better deal. Although there is no requirement that an incoming administration coordinate calls and meetings with foreign officials with the State Department or National Security Council, that has long been considered standard practice. That is, in part, because transition teams, particularly in their early days and weeks, do not always have the latest information about the state of relations with foreign nations and may not have the resources, including interpretation and logistical ability, to handle such meetings efficiently. It is unclear the level of State Department involvement, but the Biden and Trump teams say they have been talking, particularly on the Middle East, with the incoming and outgoing administrations having agreed to work together on efforts to free hostages who remain held in Gaza, according to a U.S. official, who was not authorized to comment publicly about the sensitive talks and spoke on condition of anonymity. That includes conversations between Witkoff and Biden’s foreign policy team as well as Waltz and Biden’s national security adviser Jake Sullivan. Last month, Biden administration officials said they had kept Trump’s team closely apprised of efforts to broker a ceasefire deal between Israel and Hezbollah on the Israel-Lebanon border. “I just want to be clear to all of our adversaries, they can’t play the incoming Trump administration off of the Biden administration. I’m regularly talking to the Biden people. And so, this is not a moment of opportunity or wedges for them," Waltz said Friday in a Fox Business interview. Sullivan echoed those comments at the Ronald Reagan National Defense Forum Saturday. “It has been professional. It has been substantive. And frankly, it has been good," he said of their coordination on national security issues. “Obviously we don’t see eye to eye on every issue, and that’s no secret to anybody," he went on. But he said both teams believe “it is our job on behalf of the American people to make sure this is a smooth transition,” particularly given the seriousness of issues like the war in Ukraine, conflicts in the Middle East and threats from China. “The nature of the world we find ourselves in today only elevates our responsibility to be engaged, to talk regularly, to meet regularly, to be transparent, to share, and to make sure it’s an effective transition,” he said. Trump’s team, meanwhile, is already claiming credit for everything from gains in the stock and cryptocurrency markets to a decision by Walmart to roll back diversity, equity and inclusion policies Trump opposes. “Promises Kept — And President Trump Hasn’t Even Been Inaugurated Yet,” read one press release that claimed, in part, that both Canada and Mexico have already pledged "immediate action” to help “stem the flow of illegal immigration, human trafficking, and deadly drugs entering the United States." Mexican President Claudia Sheinbaum has stopped short of saying Trump mischaracterized their call in late November. But she said Friday that Trump “has his own way of communicating, like when we had the phone call and he wrote that we were going to close the border. That was never talked about in the phone call.” Earlier this week, Mexico carried out what it claimed was its largest seizure of fentanyl pills ever. Seizures over the summer had been as little as 50 grams per week, and after the Trump call, they seized more than a ton. Biden, too, tried to take credit for the seizure in a statement Friday night. ___ Associated Press writers Matthew Lee, Aamer Madhani, Colleen Long and Ellen Knickmeyer in Washington and Mark Stevenson in Mexico City contributed to this report.

Trump's picks for key positions in his second administration

LAS VEGAS — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. "As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It's an honor for General Motors and Cadillac to join the world's premier racing series, and we're committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM's engineering expertise and technology leadership at an entirely new level." The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. "We're excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. "Together, we're assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world." Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. "The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team," Michael Andretti posted on social media. "I'm very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!" The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti's dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years, and F1 initially denied the application despite approval from F1 sanctioning body FIA. The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they've already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti's application was the only one of seven applicants to meet all required criteria to expand F1's current grid. "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. "Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024," F1 said in a statement. "Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. "With Formula 1's continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." Get local news delivered to your inbox!Intuit quarterly earnings beats estimates on AI-driven tool demand

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