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The business sector is calling for multiple government stimulus measures, especially tax incentives and a household debt reduction scheme, to revive the economy and give the public a New Year's gift. Nath Vongphanich, president of the Thai Retailers Association (TRA), said the group sees public investment as a key driver for economic expansion in 2025. The government should expedite budget disbursement and public spending for 2025 to align with its targets, he said. Efforts should be made to ensure a broad distribution of government funds through investments, procurement and stimulus measures to drive Thailand's economy forward, said Mr Nath. To support small and medium-sized enterprises (SMEs) and counter the influx of cheap Chinese goods, the government should facilitate access to low-interest loans or funding sources, expand trade opportunities, and increase marketing channels for Thai product distribution, he said. "Next year, TRA will implement the 'TRA GREAT' initiative by providing spaces within member retailers such as Makro, Lotus's, Central, Go Wholesale and Thai Watsadu for micro-SMEs to sell their products throughout the year," said Mr Nath. Moreover, TRA wants government measures to stimulate consumer spending, such as the "Shop Dee Mee Khuen" programme, Easy e-Receipt, and incentives for private sector investments. The association also proposes the government offer tax incentives for tourists. "We could adopt a tax-free shopping scheme for tourists similar to Japan, which allows tax-free purchases exceeding ¥500,000 per day. In Thailand, we may begin with value-added tax [VAT] exemptions for purchases exceeding 5,000 baht per day in a single store," he said. White paper Sanan Angubolkul, chairman of the Thai Chamber of Commerce, said the chamber submitted a white paper outlining urgent economic stimulus measures to the government. "The government should implement policies aimed at lowering the cost of living for people and expenses for businesses," he said. Key recommendations include controlling the prices of essential goods and services, freezing electricity and diesel prices, and establishing an energy board. In addition, the private sector recommends adjusting the minimum wage through the tripartite wage committee. The chamber said the second phase of the 10,000-baht handout next year may be insufficient to stimulate the economy. The group proposed a "multiplier measure" that could double the circulation of funds in the economy. Initiatives such as the Easy e-Receipt programme could inject an estimated 30-50 billion baht into the economy via roughly 1 million participants, without burdening the state budget, according to the chamber. Addressing the debt overhang among individuals and SMEs is also critical. The government should adopt integrated monetary and fiscal policies alongside income redistribution to reduce inequality, said the group. Proposed measures include debt moratoriums and extensions for housing, vehicles and SMEs, especially to ensure work-related vehicles like pickups are not repossessed. There is also an urgent need to reduce interest rates and improve access to credit, said Mr Sanan. He emphasised the importance of enhancing the competitiveness of Thai businesses to better compete with imported goods. Essential strategies include ensuring fair trade practices, preventing market-damaging practices such as dumping, and maintaining product quality standards. The chamber called on the government to attract both domestic and foreign investments. One suggestion is to designate Prachin Buri as part of the Eastern Economic Corridor, which could significantly boost investment in that area. This initiative would bolster the competitiveness of key sectors such as food, tourism and wellness, said Mr Sanan, while also increasing the potential to become a hub for logistics and connectivity as well as education. As Thailand enters its peak tourism season, the chamber sees a prime opportunity to leverage major festivals such as New Year's Eve, Chinese New Year and Songkran. "If the government can promote Thailand's soft power by organising various events and ensuring that Thai festivals are included in the global calendar, it will enhance awareness among foreign tourists and attract high-potential visitors to travel to and reside in Thailand. This would generate substantial income for the economy," he said. CONSUMPTION BOOST Rakpong Chaisuparakul, senior vice-president at KGI Securities (Thailand), said the government is expected to announce a consumption package as a New Year's gift on Dec 12. "In our view, the New Year package may include a 38-billion-baht cash handout for farmers, a 40-billion-baht cash handout for the elderly, and an Easy e-Receipt programme effective for the first quarter of next year," he said. In addition, the market is keen to hear details of the Bank of Thailand's plans to ease nationwide household debt, which is due to be announced on Dec 11, said Mr Rakpong. According to KGI, the measures are expected to cover 2.3 million loan accounts with a combined value of 1.3 billion baht, mainly in housing and consumer loans. The assistance package will set a payment timeline of three years to allow debtors to waive interest rates and pay monthly instalments of 50% in the first year, 70% in the second year, and 90% in the third, noted the brokerage. The government expects the measures to require a budget of 80 billion baht, of which 40 billion is funded by reducing the Financial Institutions Development Fund (FIDF) fee for banks to 0.23% of deposits, with the balance coming from money injected by banks. Under these measures, banks can reduce their FIDF costs, but may need to contribute more money to raise the 80 billion baht needed for the assistance measures. "We remain positive on Thai consumer plays, which entered their high earnings season in the fourth quarter, as well as the non-bank finance sector, which could benefit from the household debt bailout plan," said Mr Rakpong. CAR TRADE-IN The state plan to launch a car trade-in programme to stimulate purchases in the auto market is a good initiative, but will be difficult to translate into action, said Surapong Paisitpatanapong, vice-chairman of the Federation of Thai Industries (FTI) and the spokesman for the FTI's Automotive Industry Club. The government must devise other new stimulus measures that can increase people's income, which is a crucial factor in their vehicle purchasing decisions, he said. Mr Surapong said he wants to learn more details about the trade-in programme, recently announced by Industry Minister Akanat Promphan to deal with months of sluggish car sales in the country. Authorities must clarify the car types, the age of used cars and price issues for the scheme, he said. "This measure still depends on loans being granted by banks and car financing companies. If they don't want to participate, the scheme will not work," said Mr Surapong. Banks' strict auto loan criteria amid high levels of household debt is a key factor causing the plunge in domestic car sales. The slowdown caused the club to downgrade Thailand's total car manufacturing target for 2024 to 1.5 million vehicles, dipping from 1.7 million, which is the lowest target since 2021. From January to October, vehicle manufacturing fell by 19.2% year-on-year to 1.24 million units, the club reported. He called on the government to craft appropriate solutions to debt problems so that banks and financing companies will relax their lending criteria. "We want people to have more money and job security. This will lift their confidence, giving them more courage to spend money to buy cars," said Mr Surapong. "Many people want new cars, but they have to save money in a stagnant economy." Wallop Treererkngam, executive vice-president of Suzuki Motor (Thailand), agreed with Mr Surapong on the need for measures to deal with household debt. "If the government can ease debt problems, including non-performing loans among SMEs, banks will certainly grant auto loans," he said. "The result would be car and auto parts businesses would recover from the slowdown." LASTING MEASURES Chaiyaporn Nompitakcharoen, managing director of the research department at Bualuang Securities, said the government should support the installation of solar rooftops for individuals and SMEs. Thailand relies on imported oil for use in transport and electricity production, both of which are critical for the economy. When the oil price rises, the business and household sectors are stunted, he said. Mr Chaiyaporn said the government should also offer soft loans for new businesses in trendy fields, such as those focused on the environment, social and governance issues, or sustainable development. He added there should be state support for products from local communities, such as beverages and other items that are deemed outstanding, assisting in the development of brands to enable growth. "These measures can increase the potential of SMEs, which are an important foundation for future growth. Lowering electricity costs by installing solar rooftops will help the government to reduce its support for Oil Fund subsidies," said Mr Chaiyaporn. However, long-term solutions often lack political will from government officials, he said. The government should prioritise easing loan problems in the household and SME sectors, said Mr Chaiyaporn. "Commercial banks have acted on their own to address debt concerns, such as lowering interest rates and extending debt repayment periods. I would like to see government measures," he said. In addition, it is vital to help people laid off because of the economic slowdown, the impact of the US-China trade war, and production relocation away from Thailand, especially in the automotive industry, said Mr Chaiyaporn. Singapore organised free training courses for employees in many professions to upgrade their skills, enabling them to have more stable jobs, he said. Somchai Sittichaisrichart, managing director of SIS Distribution Plc, said the government should offer tax expense exemptions to corporations that bought solar systems and IT systems to support sustainability and digital transformation. Tax incentives can spur spending without a government cash injection, he said. The VAT needs to be raised from 7% to 10% to increase state revenue, as VAT rates in neighbouring nations are 9-10%, said Mr Somchai.
Artificial Intelligence is poised to revolutionize the private security industry in myriad ways, according to senior IPS officer Manish Shankar Sharma. Speaking at the conclusion of a security-leadership summit, Sharma emphasized AI's capability to optimize cost efficiency and reduce operational expenses by automating routine tasks such as guard scheduling and incident reporting. Moreover, AI's real-time monitoring tools can bolster fraud detection and asset protection in sectors like retail and banking. Additionally, AI-driven biometric authentication and smart access control systems promise seamless security management for diverse premises across the nation. (With inputs from agencies.)Tech companies led a broad rally for U.S. stocks Tuesday, a boost for the market in a holiday-shortened trading session. The S&P 500 rose 0.7%. The Dow Jones Industrial Average was up 177 points, or 0.4%, as of 11:20 a.m. Eastern time. The tech-heavy Nasdaq composite was up 1%. Chip company Broadcom rose 2.6%, while semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, rose 1.1%. Super Micro Computer jumped 4.6%. Tesla climbed 5.2% for the biggest gain among S&P 500 stocks. Amazon.com rose 1.5% American Airlines slipped 0.4% after the airline briefly grounded flights nationwide due to a technical issue. U.S. Steel edged up 0.1% a day after an influential government panel failed to reach consensus on the possible national security risks of the nearly $15 billion proposed sale to Nippon Steel of Japan. NeueHealth surged 70.1% after the health care company agreed to be taken private in a deal valued at roughly $1.3 billion. Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.62% from 4.59% late Monday. European markets were mostly higher. Markets in Asia mostly gained ground. U.S. markets will close at 1 p.m. Eastern and stay closed Wednesday for Christmas. Wall Street has several economic reports to look forward to this week, including a weekly update on unemployment benefits on Thursday. Tuesday’s rally comes as the stock market enters what’s historically been a very cheerful season. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950. The so-called “Santa rally” also correlates closely with positive returns in January and the upcoming year. So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Even so, the stock market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up about 26% so far this year and remains within roughly 1.3% of the all-time high it set earlier this month — its latest of 57 record highs this year.
2024 in pop culture: In a bruising year, we sought out fantasy, escapism — and cute little animalsThe Ministry of Communications and Information Technology (MCIT) on Saturday announced that the State of Qatar has officially joined the Global Coalition for Digital Safety. This announcement was made during the coalition's 11th meeting. HE the Minister of Communications and Information Technology Mohammed bin Ali Al Mannai participated in the meeting via video conference on Thursday, alongside several member states and international organisations that focus on digital safety. It is stated that the move reflects Qatar's commitment to supporting global efforts to enhance digital security and protect digital society In his opening remarks, HE the Minister emphasised the importance of international cooperation in addressing the growing challenges of the digital realm, pointing that Qatar's membership underscores its dedication to shaping inclusive global policies to bolster safety. HE Al Mannai further highlighted Qatar's ongoing efforts, led by the Ministry, to adopt cutting-edge technologies and develop national laws and policies to mitigate risks. He noted that joining the coalition would enhance international partnerships and facilitate the exchange of expertise in digital safety, aligning with the coalition's objectives to establish a safe and sustainable digital environment for all. The Global Coalition for Digital Safety, an initiative of the World Economic Forum, aims to strengthen international collaboration in digital safety. Its objectives include combating harmful content, curbing the spread of misinformation, and protecting users' rights online. The coalition brings together governments, major corporations, and NGOs to create policies and frameworks for a safe and inclusive digital environment. The World Economic Forum provides the regulatory framework and support, enabling the coalition to leverage international platforms to achieve its goals. Related Story Education ministry honours winners in Digital Creativity Olympiad WISH report moots framework for tackling childhood obesity in Qatar
Rokmaster Resources (CVE:RKR) Stock Price Down 25% – Here’s WhyTerre Haute pitching great Tommy John has been a candidate for induction into the National Baseball Hall of Fame in Cooperstown 20 times, and much to his hometown's chagrin, hasn’t yet gotten the call. On Sunday night, John was passed over again for induction into the Hall at Cooperstown, New York. The lefthanded pitching great didn’t receive the minimum of 75% of the votes cast by the Classic Baseball Era Committee, a 16-member panel that included six Hall of Fame players, big-league executives and veteran media and historians. Seven other players were on the ballot. The committee chose instead former Phillies and White Sox slugger Dick Allen, and powerful former Pittsburgh Pirate and Cincinnati Red Dave Parker. Their selections were announced live on the "MLB Tonight" program on the MLB Network on Sunday evening. Parker was named on 14 of the 16 committee members' ballots, while Allen was on 13 voters' ballots. John received seven votes, third most but five shy of the necessary 12. John, now 81, lives with his wife in Florida. "I thought I had a great chance," he said Sunday night by phone from Florida. John didn't offer a comment on the choices of Allen and Parker, but pointed out that Allen had missed induction by one vote in the last veterans balloting. Also on the ballot were Ken Boyer, Steve Garvey and Luis Tiant, as well as former Negro Leagues star John Donaldson and manager Vic Harris. Boyer, Donaldson, Garvey, Harris and Tiant each received less than five votes on Sunday. John had connections with several fellow candidates. He played in the majors with Boyer, Garvey and Tiant, faced Allen and Parker on the mound. John also played against Allen in the minor leagues, and both entered the majors in 1963. John and Tiant — best known for his years as a Red Sox pitcher — were both officially rookies in the Cleveland rotation in 1964. In head-to-head matchups, Allen was 2-for-4 at bat against John for a .500 batting average, with one homer and one strikeout. Parker went 7-for-28 against John, a .250 average, with two homers. John struck out Parker a hefty nine times. The 16-member Classic Era Committee gathered at the MLB winter meetings Sunday in Dallas. The eight-person ballot was comprised of candidates whose primary contribution to the game came prior to 1980. Modern-era greats could join Allen and Parker in the Class of 2025, which will be inducted in ceremonies at Cooperstown on July 27. Parker, now 73, and the late Allen, who died in 2020, will be joined by any former players or managers elected in the Baseball Writers’ Association of America voting, to be announced on Jan. 21. John was unsure if he'll be considered again in future Hall of Fame votes by veterans committees. "I have no idea what they're going to do," he said Sunday night. Later Sunday, Craig Muder — National Baseball Hall of Fame and Museum director of communications — told the Tribune-Star, "Tommy John remains eligible in the future. Next election would be fall of 2027 for Class of 2028." John was on the primary Hall of Fame ballot in voting by the Baseball Writers’ Association of America 15 times and never made the cut. He was back on the ballot by veteran panels to reconsider overlooked players, but also missed those cuts 2011, 2014, 2018 and 2020. Two recent developments seemed to strengthen John’s chances. First, one of John’s contemporaries — fellow former lefty pitcher Jim Kaat — was inducted last year with a similar career resume. Kaat finished a 25-year career from 1959 to ‘83 with a 283-237 record, a 3.45 earned-run average and three All-Star appearances. Kaat endorsed John for Hall induction. And, an upcoming, new documentary will soon shine a global spotlight on John’s life story. Winter State Entertainment has been crafting “Tommy John: The Bionic Man” since 2023 and prime elements of the upcoming 90-minute movie were filmed in Terre Haute. But only Allen and Parker received the necessary votes on Sunday. Allen played 15 seasons for the Phillies, Cardinals, Dodgers, White Sox and Athletics, totaling 351 home runs and 1,119 RBI. He won the 1964 National League Rookie of the Year Award with the Phillies and was named the 1972 American League Most Valuable Player with the White Sox. Parker was named to seven All-Star Games in his 19 seasons, winning back-to-back NL batting titles in 1977-78 while earning league MVP honors in the latter year. He starred with the Pirates' World Series championship team in 1979 and played for the Athletics World Series title team 10 years later. Parker won the 1979 All-Star Game MVP Award, displaying his legendary throwing arm from right field. John was born May 22, 1943 and raised in Terre Haute, and played boyhood and Gerstmeyer High School games, including his last one in 1961, at Spencer F. Ball Park on Eighth Avenue. Fittingly, his hometown named one of the park’s diamonds for John in 2014. John signed with the Cleveland Indians right out of high school, and went on to pitch 26 seasons in the big leagues from 1963 to 1989. A first-of-its-kind elbow surgery in 1974 preserved his career, but caused John to miss a full season and a half. John recovered magnificently and played another 14 seasons, finishing his career with 288 wins and 231 losses and a 3.34 earned-run average. John won 20 or more games three times, all after his surgery. In fact, John got 164 of his career wins after Jobe replaced the ulnar collateral ligament in his left arm with a tendon from John’s right arm. It had never been performed before, and his rehabilitation was also groundbreaking and unprecedented. John retold the story in his book “TJ: My 26 Years in Baseball.” After high school, he signed in 1961 with the Indians and was sent to play for the Dubuque Packers in the Class D Midwest League. Within two seasons, the Indians called him up to the Cleveland club. He pitched for the Indians, White Sox, Dodgers, Yankees, Angels and Athletics. He started 700 games in his long career, the eighth-most in history. His 4,710.1 innings pitched ranks 20th all-time. He made four All-Star games, including three after his epic elbow surgery, conducted by Dr. Frank Jobe.Rexas Finance (RXS) has become one of the major attractions in the developing cryptocurrency field. Dubbed a potential ‘Dogecoin killer,’ RXS is more than another token—it is a groundbreaking model for tokenizing real-world assets (RWAs). Currently in its presale in Stage 10, and already showing impressive growth, RXS has all the ingredients for Dogecoin mass adoption and its explosive rise in 2021. Rexas Finance (RXS): $29M Raised and Counting – Projected 19,800% Growth by 2025 as Tokenization Revolutionizes Investments! What’s exciting about RXS is its new framework which enables people to tokenize physical assets so more people can invest in them. Based on this unique proposition, Rexas Finance is a pioneer in the game of asset tokenization, which allows users to exhibit fractional ownership of valuable commodities, real estate, and even art. Currently priced at $0.150, RXS has shown amazing growth as the presale progresses, starting from $0.03. According to analysts RXS has a pretty rosy future, they expect an insane 19,800% increase by the end of Q1 2025. Almost 355 million tokens have already been sold out of the 380 million offered to date, raising above $29 million ahead of its $33 million presale goal. The fact that this response was overwhelming shows us that RXS investors are confident about the company's future potential. 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Furthermore, Rexas GenAI improves operational efficiency through the supply of automated insights and asset management solutions. Security is also a focus of the platform, with security tools like Rexas AI Shield empowering the users with confidence to take part in their investments. Rexas Treasury is a cross-chain yield aggregator that lets users make money on different blockchains in a simple-to-use application. As a whole, these features make up a powerful framework that should lure both retail and institutional investors seeking to participate in the digital assets economy. While looking into the future Rexas Finance (RXS) is a prominent investment product in the cryptocurrency space. Given its approach to real-world asset tokenization and exceptional presale output, RXS has what it takes to realize massive returns like Dogecoin did in the past. As this token moves through its presale phases before going public, investors are watching it with interest. 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Even with access to blockbuster obesity drugs, some people don't lose weightCLAYTON — St. Louis County will have a new prosecuting attorney shortly after the New Year when Wesley Bell leaves office to take his newly won seat in Congress. The process to replace him has been fraught with politics. Here are the answers to six questions about how the new prosecutor was picked, and what happens now: Who will be the county’s next prosecuting attorney? When Bell leaves office on Jan. 2, Republican Gov. Mike Parson will appoint his replacement, barring any court intervention. Parson picked Melissa Price Smith , an assistant prosecuting attorney in St. Louis County and a Democrat, to replace Bell. County Executive Sam Page also had a replacement lined up: former federal prosecutor Cort VanOstran . But Missouri Attorney General Andrew Bailey sued Page and the county, arguing the governor gets to pick Bell’s replacement. Last week, a judge in St. Louis County Circuit Court sided with Parson and forbade Page from making an appointment. Why did the judge side with Parson? Circuit Judge Brian May decided the governor has the power to make the appointment because the prosecutor is a state officer and not an officer “merely for the county in which he or she is elected or appointed.” “This conclusion is reinforced by the fact that a county prosecuting attorney’s authority is not limited to crimes that only occurred within the geographic boundaries of his or her county,” May wrote. “For these reasons, the court concludes that the governor has the exclusive authority to fill the anticipated vacancy.” But the governor hasn’t always made county prosecuting attorney appointments. After the resignation in May 2023 of St. Charles County Prosecuting Attorney Tim Lohmar, County Executive Steve Ehlmann appointed Joseph McCulloch as a replacement. St. Louis County attorneys pointed to that example in their arguments before the judge . But May wasn’t convinced. Throughout Missouri history, the governor has never asserted the authority to appoint a prosecuting attorney in a county with its own charter, said Neal Perryman, a private attorney hired to represent Page and the county. “So what?” May asked. Who is Melissa Price Smith? Price Smith has been an assistant prosecutor in St. Louis County since 2008. She leads the sexual assault and child abuse team. She grew up in Creve Coeur, and earned a bachelor’s in psychology from the University of Missouri-St. Louis and her law degree from St. Louis University. Price Smith’s first job was in St. Louis under former Circuit Attorney Dee Joyce-Hayes. She then practiced civil litigation for seven years before going to work for St. Louis County. Why was the process so political? The county’s top law enforcement official is responsible for prosecuting people accused of crimes, and plays an essential role in maintaining public safety in the region. It’s also an elected position. Price Smith, should she prevail in being appointed prosecuting attorney, will have to consider launching a campaign before Bell’s term ends in January 2027. She has said she intends to try to keep the job. And it’s a powerful position because it comes with the ability to decide when to prosecute high-profile cases, or not. For instance, the prosecuting attorney’s office tried to remove county Republican Councilman Dennis Hancock, of Fenton, from office earlier this year for trying to hire his stepdaughter in violation of Missouri’s ban on nepotism in public office. The prosecutor’s office later dropped the case. And just Tuesday, charges against County Clerk Diann Valenti became public in a case connected to her processing of Hancock’s stepdaughter’s personnel records. When a prosecutor fails to do their job, it has serious consequences. Former St. Louis Circuit Attorney Kimberly M. Gardner resigned last year after facing intense criticism from victims, defense attorneys, judges and even her own staffers. Why is the St. Louis County Council involved? If Page were able to make the appointment, the County Council would have the power to confirm, reject or simply not vote on his pick. The county executive said if the council rejected or didn’t vote on his appointee, he would simply make VanOstran an interim prosecuting attorney, which he said doesn’t require council approval. Councilmembers were incensed by Page’s plan to bypass them. They filed suit separately asking a judge to prevent Page from naming an interim, if it came to that. But so far, the issue has been avoided because of the judge’s decision to side with the governor. What’s next? St. Louis County has already made moves to appeal the judge’s decision in the Eastern District of the Missouri Court of Appeals. And the Missouri Supreme Court on Monday rejected the county’s request to expedite the case, in effect sending it to the appeals court.
EAGAN, Minn. (AP) — The Minnesota Vikings waived cornerback Akayleb Evans on Saturday in another setback for their beleaguered 2022 draft class. Read this article for free: Already have an account? To continue reading, please subscribe: * EAGAN, Minn. (AP) — The Minnesota Vikings waived cornerback Akayleb Evans on Saturday in another setback for their beleaguered 2022 draft class. Read unlimited articles for free today: Already have an account? EAGAN, Minn. (AP) — The Minnesota Vikings waived cornerback Akayleb Evans on Saturday in another setback for their beleaguered 2022 draft class. Evans started 15 games last season, but he had been relegated to a special teams role this year after the Vikings added veteran cornerbacks Stephon Gilmore and Shaquill Griffin. Evans was a fourth-round pick out of Missouri, one of three defensive backs among Minnesota’s first five selections in 2022. Lewis Cine (first round) was waived and Andrew Booth (second round) was traded earlier this year. One of their second-round picks, guard Ed Ingram, lost his starting spot last week. Evans was let go to clear a roster spot for tight end Nick Muse, who was activated from injured reserve to play on Sunday at Chicago. The Vikings ruled tight end Josh Oliver out of the game with a sprained ankle. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. ___ AP NFL: https://apnews.com/hub/NFL Advertisement
