4 roulette
4 roulette
NEW YORK (AP) — U.S. stock indexes fell Thursday following some potentially discouraging data on the economy . The S&P 500 slipped 0.5% for its fourth loss in the last six days. It’s a pause for the index, which has been rallying toward one of its best years of the millennium . The Dow Jones Industrial Average lost 234 points, or 0.5%, and the Nasdaq composite sank 0.7% from its record set the day before. A report early in the morning said more U.S. workers applied for unemployment benefits last week than expected. A separate update, meanwhile, showed that inflation at the wholesale level, before it reaches U.S. consumers, was hotter last month than economists expected. Neither report points to imminent disaster, but they dilute one of the hopes that’s driven the S&P 500 to 57 all-time highs so far this year : Inflation is slowing enough to convince the Federal Reserve to keep cutting interest rates, while the economy is remaining solid enough to stay out of a recession. Of the two reports, the weaker update on the job market may be the bigger deal for the market, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley. A surge in egg prices may have been behind the worse-than-expected inflation numbers. “One week doesn’t negate what has been a relatively steady stream of solid labor market data, but the Fed is primed to be sensitive to any signs of a softening jobs picture,” he said. Traders are widely expecting the Fed will ease its main interest rate at its meeting next week. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. A cut next week would have the Fed following other central banks, which lowered rates on Thursday. The European Central Bank cut rates by a quarter of a percentage point, as many investors expected, and the Swiss National Bank cut its policy rate by a steeper half of a percentage point. Following its decision, Switzerland’s central bank pointed to uncertainty about how U.S. President-elect Donald Trump’s victory will affect economic policies, as well as about where politics in Europe is heading. Story continues below video Trump has talked up tariffs and other policies that could upend global trade. He rang the bell marking the start of trading at the New York Stock Exchange on Thursday to chants of “USA.” On Wall Street, Adobe fell 13.7% and was one of the heaviest weights on the market despite reporting stronger profit for the latest quarter than analysts expected. The company gave forecasts for profit and revenue in its upcoming fiscal year that fell a bit shy of analysts’. Warner Bros. Discovery soared 15.4% after unveiling a new corporate structure that separates its streaming business and film studios from its traditional television business. CEO David Zaslav said the move “enhances our flexibility with potential future strategic opportunities,” raising speculation about a spinoff or sale. Kroger rose 3.2% after saying it would get back to buying back its own stock now that its attempt to merge with Albertsons is off . Kroger’s board approved a program to repurchase up to $7.5 billion of its stock, replacing an existing $1 billion authorization. All told, the S&P 500 fell 32.94 points to 6,051.25. The Dow Jones Industrial Average dropped 234.55 to 43,914.12, and the Nasdaq composite sank 132.05 to 19,902.84. In stock markets abroad, European indexes held relatively steady following the European Central Bank’s cut to rates. Asian markets were stronger. Indexes rose 1.2% in Hong Kong and 0.8% in Shanghai as leaders met in Beijing to set economic plans and targets for the coming year. South Korea’s Kospi rose 1.6% for its third straight gain of at least 1%, as it pulls back following last week’s political turmoil where its president briefly declared martial law. In the bond market, the 10-year U.S. Treasury yield rose to 4.33% from 4.27% late Wednesday. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
Team claims NASCAR rescinded approval to buy charter
CHARLOTTE, N.C. — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. "Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them," Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's "take-it-or-leave-it" final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as "open" teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was "primarily related to our ongoing lawsuit with NASCAR," Freeze said. "NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit," Freeze said. "NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved." A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing "new circumstances" in a renewed motion for an injunction and of a "coordinated effort behind the scenes." "This is completely false," Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. "23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing," Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. "It is not hypocritical to operate within the only system available while striving for excellence and contending for championships," he continued. "It is a necessity because NASCAR's monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level." Get local news delivered to your inbox!Ashland rings opening bell at NYSE recognizes 100-year anniversary
CHARLOTTE, N.C. — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. "Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them," Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's "take-it-or-leave-it" final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as "open" teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was "primarily related to our ongoing lawsuit with NASCAR," Freeze said. "NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit," Freeze said. "NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved." A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing "new circumstances" in a renewed motion for an injunction and of a "coordinated effort behind the scenes." "This is completely false," Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. "23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing," Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. "It is not hypocritical to operate within the only system available while striving for excellence and contending for championships," he continued. "It is a necessity because NASCAR's monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level." Get local news delivered to your inbox!
NEW ORLEANS (AP) — A scruffy little fugitive is on the lam again in New Orleans, gaining fame as he outwits a tenacious band of citizens armed with night-vision binoculars, nets and a tranquilizer rifle. Scrim, a 17-pound mutt that's mostly terrier, has become a folk hero, inspiring tattoos, T-shirts and even a ballad as he eludes capture from the posse of volunteers. And like any antihero, Scrim has a backstory: Rescued from semi-feral life at a trailer park and adopted from a shelter, the dog broke loose in April and scurried around the city until he was cornered in October and brought to a new home. Weeks later, he'd had enough. Scrim leaped out of a second-story window, a desperate act recorded in a now-viral video. Since then, despite a stream of daily sightings, he's roamed free. The dog’s fans include Myra and Steve Foster, who wrote “Ode to Scrim” to the tune of Ricky Nelson’s 1961 hit, “I’m a Travelin’ Man.” Leading the recapture effort is Michelle Cheramie, a 55-year-old former information technology professional. She lost everything — home, car, possessions — in Hurricane Katrina in 2005, and in the aftermath, found her calling rescuing pets. “I was like, ‘This is what I should be doing,’” Cheramie said. “I was born to rescue.” She launched Zeus’ Rescues, a nonprofit shelter that now averages 600 cat and dog adoptions a year and offers free pet food to anyone who needs it. She helped Scrim find the home he first escaped from. It was Cheramie's window Scrim leaped from in November. She's resumed her relentless mission since then, posting flyers on telephone poles and logging social media updates on his reported whereabouts. She's invested thousands of dollars on wildlife cameras, thermal sensors and other gear. She took a course offered by the San Diego Zoo on the finer points of tranquilizing animals. And she's developed a network of volunteers — the kind of neighbors who are willing to grid-search a city at 3 a.m. People like writer David W. Brown, who manages a crowd-sourced Google Map of all known Scrim sightings. He says the search has galvanized residents from all walks of life to come together. As they search for Scrim, they hand out supplies to people in need. “Being a member of the community is seeing problems and doing what you can to make life a little better for the people around here and the animals around you,” Brown said. And neighbors like Tammy Murray, who had to close her furniture store and lost her father to Parkinson's disease. This search, she says, got her mojo back. “Literally, for months, I’ve done nothing but hunt this dog,” said Murray, 53. “I feel like Wile E. Coyote on a daily basis with him.” Murray drives the Zeus' Rescues' van towards reported Scrim sightings. She also handles a tactical net launcher, which looks like an oversized flashlight and once misfired, shattering the van's window as Scrim sped away. After realizing Scrim had come to recognize the sound of the van's diesel engine, Murray switched to a Vespa scooter, for stealth. Near-misses have been tantalizing. The search party spotted Scrim napping beneath an elevated house, and wrapped construction netting around the perimeter, but an over-eager volunteer broke ranks and dashed forward, leaving an opening Scrim slipped through. Scrim's repeated escapades have prompted near-daily local media coverage and a devoted online following. Cheramie can relate. “We’re all running from something or to something. He's doing that too,” she said. Cheramie's team dreams of placing the pooch in a safe and loving environment. But a social media chorus growing under the hashtag #FreeScrim has other ideas — they say the runaway should be allowed a life of self-determination. The animal rescue volunteers consider that misguided. “The streets of New Orleans are not the place for a dog to be free,” Cheramie said. “It’s too dangerous.” Scrim was a mess when Cheramie briefly recaptured him in October, with matted fur, missing teeth and a tattered ear. His trembling body was scraped and bruised, and punctured by multiple projectiles. A vet removed one, but decided against operating to take out a possible bullet. The dog initially appeared content indoors, sitting in Cheramie's lap or napping beside her bed. Then while she was out one day, Scrim chewed through a mesh screen, dropped 13 feet to the ground and squeezed through a gap in the fence, trotting away. Murray said Cheramie's four cats probably spooked him. “I wholeheartedly believe the gangster-ass cats were messing with him,” Murray said. Cheramie thinks they may have gotten territorial. Devastated but undeterred, the pair is reassessing where Scrim might fit best — maybe a secure animal sanctuary with big outdoor spaces where other dogs can keep him company. Somewhere, Murray says, “where he can just breathe and be.” Brook is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Brook on the social platform X: @jack_brook96The cute café hiding in 'mind-boggling' location you probably don't know exists but worth a visit
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Paid Sick Leave Laws Continue Their Popularity Through State Ballot Initiatives
There is optimism among Southern California defense contractors that the incoming presidential administration’s plans and policies will inject adrenaline into the local economy and generate hundreds of new jobs, especially with talk of strengthening the U.S. military. President-elect Donald Trump has publicly vowed to strengthen the country’s military by making it more efficient and through that find better ways to develop more defense products utilizing technology innovation. He has also said he will build up a larger naval fleet to compete with China. Just after winning the presidential election, Trump named Elon Musk and Vivek Ramaswamy, founder of a pharmaceutical company, as co-leaders of a government efficiency initiative focused on cutting bureaucracy and waste in government. Many smaller tech firms, some of which have relationships with Musk’s Space X and Tesla, are hopeful the initiative could give them an edge over bigger defense companies with huge budgets. “The new administration is very passionate about countering China and they recognize the ability for the U.S. to outcompete China that manufacturing is probably the most important thing to counter that threat,” said Chris Power, CEO and founder of Hadrian Automation, a company based in Torrance that runs automated factories building defense products. “We haven’t been talking about reindustrializing the country in the last 10 years. Now, the vice president, a lot of the policymakers are hellbent on figuring out how to reindustrialize the U.S., both by investing in the country and also by creating an even playing field with China.” Power, an Australian who lives in Hermosa Beach and started his company just three years ago, was among hundreds who attended the 11th annual Regean National Defense Forum held over the weekend at the Ronald Reagan Presidential Library in Simi Valley. The event is an opportunity for representatives of defense and technology companies to rub shoulders and exchange ideas with lawmakers, senior Department of Defense leadership, and foreign defense leaders in an environment away from the hubbub of the nation’s capital. Southern California is packed with hundreds of defense-oriented companies and continues to be a leader in military defense innovation. Commercial technology is also significant in the country’s national security approach. Because of that, the forum is also an opportunity for non-traditional companies to get a share of the spotlight and for startups like Hadrian Automation to get a chance to talk with people otherwise not in their sphere. This year’s forum, themed “Peace Through Strength in a Time of Transition,” included a day of back-to-back panel discussions. Key themes included what the new presidential administration would mean for defense, overcoming production and manufacturing constraints to build the future force, space capabilities and the space economy, modernizing defense capabilities, the next national defense strategy, and public opinion on national security after the election. During a discussion on force structure, resources and the next national defense strategy, panelists emphasized funding military needs going forward. Rep. Ken Calvert, R-Corona, who serves on the House Appropriations Defense Subcommittee, pressed the importance of passing the appropriation bills that fund military spending. “We need to get these bills done and give certainty to the military that they have the resources available in the Trump administration,” he said. “I know it’s difficult in an era where we have significant national debt, but nonetheless, our national security is at risk, and we need to move forward.” The uncertainty of the government’s appropriations process makes it difficult for the defense industry, “from a development perspective and a production perspective,” said Lawrence Culp Jr., chairman and CEO of GE Aerospace. “Without that clarity, it’s very hard to keep someone at task with all these stops and starts and the policy uncertainty of late – it’s very hard.” The smaller companies further down the supply chain bear a lot of the weight of uncertainty, he added. “When you talk about the small and medium-sized businesses that are part of that supply chain, the small companies we rely on for input, one, two, three tiers away, they’re at the end of the whip and they can’t really handle that, either operationally or financially.” Former Secretary of Defense Leon Panetta said at the forum that is where Trump needs to use his ability to generate enthusiasm among the public and make Americans aware of the nation’s dangers if it doesn’t have a strong military. “The American people really don’t understand how much of a threat we’re facing,” he said. “We have got to educate the American people on that. We haven’t had a president in the last years who has gone to the American people and gotten their support. It’s the only way you get leadership in Congress to pay attention and get the action you need.” The forum produces a survey each year on public perception of military defense, the last conducted just after the November election by a bipartisan research group. Of the 2,500 surveyed, 79% of respondents said they want the U.S. to spend more on national defense. At the same time, 61% said the military should be large enough to win two wars simultaneously; 49% said China poses the most significant threat, while 25% said Russia poses more of a threat. And, that’s where lawmakers such as Calvert think Southern California companies can have opportunities to become more successful. “Southern California is the intellectual capital of the world when it comes to national security innovation and manufacturing,” he said. “President Trump is committed to a strong military that is focused on the threats we face today and tomorrow. There’s no doubt in my mind that Southern California will continue to make a significant contribution to those important goals in the years ahead. There’s widespread agreement that we need to invest in our national security to remain the preeminent superpower in the world.” With a new administration coming in talking about cutting waste in government agencies while strengthening the country with a more targeted and effective military, local companies working with defense contractors and manufacturers are looking to the future with a hopeful eye. Brandon Tseng, a former Navy SEAL who co-founded Shield AI and attended the defense forum this year for the second time, said more government interest in smaller companies that produce military technology will help Shield AI create more jobs. The San Diego-based company, which employs 900 people, aims to protect service members and civilians with AI systems. It develops artificial intelligence-powered pilot systems, drones and technology for military operations. “I’m bullish on the defense tech ecosystem,” he said, adding that he’s excited about Trump’s inclusion in his administration of Musk, Ramaswamy and Stephen Feinberg, a private equity investor with interests in the defense industry, who Tseng calls problem-solvers. Related links “What I’m optimistic about is that you have these operators who have run companies, been in the trenches, solved problems, and know what it means to walk the walk, not just talk the talk,” Tseng said. “The administration is bullish on doing things more efficiently, more effectively; that’s what technology is about. I think you’re going to see it will be very helpful for a lot of defense tech companies.” And, it’s exactly the idea of manufacturing parts quickly and efficiently that Power, of Hadrian Automation in Torrance, believes will help reinspire U.S. manufacturing, which he believes is the basis of a strong national defense. With his company, he hopes to inspire many young, smart people to want to get back into manufacturing – but in a more modern way that uses software to improve the manufacturing process and make it more efficient and effective. “U.S. power is based on the dollar,” he said. “The dollar is based on military might, which is really based on industrial power. We shot ourselves in the foot as a country by outsourcing our industrial power to China. That took away all the manufacturing skillsets, manufacturing technology, and a lot of jobs. For the last 25 years, we’ve treated China like a partner, but they have been subsidizing aggressively their manufacturing base specifically to gut our industrial power as a country.” At the same time the general public’s interest in manufacturing has dipped, he argued, with more people in the 1980s and ’90s choosing a four-year degree as the way to a successful future and a middle class that commands relatively high wages. “If you want manufacturing in America, the only way to do it is to build software factories that give the American workforce a productivity advantage so we can scale and use a new workforce instead of a legacy,” he said. “And if we want to be cost-competitive globally and efficient, we either have to pay everyone a very small amount or give the American workforce the 10x advantage with American software engineering and robotics.” Power sees Trump’s focus on empowering industrialization as having a huge impact on jobs. He plans to open two new facilities in the next year. “The faster we scale, the more jobs we provide,” he said. “And they’re better and more exciting jobs.” Related ArticlesI’m a Celeb: Dean McCullough faces fish gut fear as he and Coleen Rooney tackle latest Bushtucker Trial
ST. JOHN'S, N.L. — The chief executive of the North West Co. Inc. is rejecting accusations that its stores in remote Indigenous communities hiked food prices as funding flowed in this year from federal programs aimed at making necessities more affordable. Dan McConnell made the comments Tuesday during a call for shareholders discussing the company's third-quarter financial results, in which it reported consolidated sales of $637.5 million. “Absolutely not,” he said when asked if the company's stores in Northern Canada were raising prices when federal funding arrived in the region. “We're actually looking at lowering prices by bringing in other options and lower cost items under a private label program.” The North West Co. operates 118 Northern grocery stores in remote communities across Northern Canada, as well as a host of other businesses, including Quickstop convenience stores in Northern Canada and Alaska and a dozen Cost-U-Less stores in regions including St. Maarten, the Hawaiian Islands and the Caribbean. In some northern Labrador and Nunavut communities, the Northern store is the only place to buy groceries Last month, Nunavut Tunngavik Inc., the land-claims body representing Nunavut Inuit, said it is planning to investigate whether retailers, including Northern stores, hiked food prices after communities began receiving money this year under the federal Jordan’s Principle and Inuit Child First Initiative programs. The programs provide funding to ensure children get adequate food and education. The consolidated sales figure reported for North West Co.’s third quarter, which ended Oct. 31, marks a 3.3-per cent increase over the same quarter last year, but McConnell said that didn't translate to the bottom line, as the company's net earnings were $36.4 million, down from $38 million in the third quarter of 2023. The company also faced a seven per cent increase in selling, operating and administrative costs compared with the same quarter last year, partly driven by higher minimum wages and new hiring, McConnell said. Sales in the company's Canadian operations were up by four per cent, thanks in part to increased demand in communities where people qualified for government funding and payouts from a 2021 settlement between Canada and certain First Nations over drinking water. "In Canada, we expect consumer demand in the fourth quarter and into 2025 to continue to be positively impacted by the distribution of First Nations drinking water settlement payments and government spending on First Nations Child and Family Service programs, including Jordan's Principle and the Inuit Child First programs," McConnell told shareholders during the call. Nicholas Li, an economics professor at Toronto Metropolitan University who studies food security in Northern Canada, said there is some evidence that retail food prices go up when government funding is around. But it can be hard to know why this happens. Li was part of a team that published a report last year about the Nutrition North Canada program, which offers federal subsidies aimed at lowering and levelling food prices across remote Indigenous communities. The study found retailers passed on to customers just 67 cents of every subsidy dollar they received. McConnell said Tuesday that qualifying North West Co. stores pass on 100 per cent of the subsidies they received, noting that its use of the program has passed several federal audits. But Li said the federal government runs the Nutrition North audits like a "black box," refusing to release any information on how the companies are scrutinized. He said the North West Co. has tended to be more profitable than other Canadian grocery giants such as Loblaws, Metro and Empire, which owns Sobeys. The company’s stock also soared to historic heights this year, hitting nearly $56 last month. "I think it's easy to voice frustrations with the North West Company," Li said. There are likely many things happening to increase prices that retailers shouldn't be blamed for, he said. "But at the same time, based on my research, there's also truth to these views that retailers do take advantage of some of these programs to profit," he said. "Both things can be true." "It can also be true that the current retail setup (in the North), while maybe not ideal, is the best thing that's possible under the current circumstances," he added. This report by The Canadian Press was first published Dec. 10, 2024. Companies in this story: (TSX: NWC) Sarah Smellie, The Canadian Press
Learn About the Importance of Commercial Pressure Washing With Todd's Pressure Washing
Southern California defense contractors optimistic Trump administration could create jobs locallyCHARLOTTE, N.C. — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. "Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them," Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's "take-it-or-leave-it" final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as "open" teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was "primarily related to our ongoing lawsuit with NASCAR," Freeze said. "NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit," Freeze said. "NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved." A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing "new circumstances" in a renewed motion for an injunction and of a "coordinated effort behind the scenes." "This is completely false," Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. "23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing," Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. "It is not hypocritical to operate within the only system available while striving for excellence and contending for championships," he continued. "It is a necessity because NASCAR's monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level."Online investment platform Snowball is expanding its offering to provide investors with exposure to managed funds that have previously not been widely accessible. Snowball, which wants to become a one-stop platform for retail and wholesale investors, said it would provide access to asset classes such as private equity, private credit, “long-short funds”, and other alternative investment strategies. “These asset classes play an important role in a well-constructed investment portfolio, providing the potential for enhanced returns, increased diversification, and combatting volatility that is inherent in the stock market,” the company, one of the first in New Zealand to specialise in crowdfunding, said. Private market and alternative assets are set to grow at more than twice the rate of public assets, from US$13 trillion ($22 trillion) in 2023 to over US$60 trillion by 2032, Snowball said. Co-founder and managing director of Snowball, Simeon Burnett, said these types of funds were an important and sometimes large part of an investor’s portfolio but were are often only available to institutional investors or high net worth investors with high minimum investment levels required.
Team claims NASCAR rescinded approval to buy charter
