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The S&P 500 fell less than 0.1% after spending the day wavering between small gains and losses. The tiny loss ended the benchmark index’s three-day winning streak. The Dow Jones Industrial Average added 0.1% and the Nasdaq composite fell 0.1%. Trading volume was lighter than usual as US markets reopened following the Christmas holiday. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.2%. Meta Platforms fell 0.7%, and Amazon and Netflix each fell 0.9%. Tesla was among the biggest decliners in the S&P 500, finishing 1.8% lower. Some tech companies fared better. Chip company Broadcom rose 2.4%, Micron Technology added 0.6% and Adobe gained 0.5%. Health care stocks were a bright spot. CVS Health rose 1.5% and Walgreens Boots Alliance added 5.3% for the biggest gain among S&P 500 stocks. Several retailers also gained ground. Target rose 3%, Ross Stores added 2.3%, Best Buy rose 2.9% and Dollar Tree gained 3.8%. Traders are watching to see whether retailers have a strong holiday season. The day after Christmas traditionally ranks among the top 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and raid bargain bins. US-listed shares in Honda and Nissan rose 4.1% and 16.4% respectively. The Japanese car makers announced earlier this week that the two companies are in talks to combine. All told, the S&P 500 fell 2.45 points to 6,037.59. The Dow added 28.77 points to 43,325.80. The Nasdaq fell 10.77 points to close at 20,020.36. Wall Street also got a labour market update. US applications for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years, the Labour Department reported. Treasury yields mostly fell in the bond market. The yield on the 10-year Treasury slipped to 4.58% from 4.59% late on Tuesday. Major European markets were closed, as well as Hong Kong, Australia, New Zealand and Indonesia. Trading was expected to be subdued this week with a thin slate of economic data on the calendar.AP Trending SummaryBrief at 6:06 p.m. EST
SHAFTSBURY — The Southwest Vermont Union Elementary School District Board ( ) voted recently to direct school principals to have the Pledge of Allegiance recited every day inside the school building. “The SVUESD board of directors directs the pledge of allegiance is to be recited on each school day inside the building before instructional time starts,” states the motion adopted by the board 5-1, with one abstention. The SVUESD discussion of the issue at a meeting on Dec. 17 took place under a time constraint because of the need to devote most the meeting to reviewing the district budget. The meeting was originally scheduled for Dec. 10 but did not take place due to the lack of a quorum. The Pledge issue came to the forefront in late September when the claim went viral on social media that Shaftsbury Elementary School had instituted a ban on the Pledge of Allegiance. Southwest Vermont Supervisory Union Superintendent James R. Culkeen quickly issued a statement denying that the pledge was banned and saying the SVUESD would work to develop a "consistent practice" regarding recital of the Pledge of Allegiance. In November, the board sent a draft practice on saying the Pledge to school principals to get feedback on how it worked in practice. The intent was to have a group recital of the pledge in a common area at each school right before the start of school. Student participation would be voluntary. Feedback to the Board from building principals would be anonymous but mandatory. At the Dec. 17 meeting, SVUESD Board Chair Christopher Murphy said that principals did not find this a workable option. “The feedback from the building principals that was shared with me by the superintendent was I think much what we anticipated: It’s not doable," he said. "The feedback we received was more or less unanimous from our building principals that the hope that they could organize, school-wide, what amounts to a school-wide gathering, each and every day, for the purpose of the Pledge is not doable. “So what the general request was from our building principals was if this board wishes the Pledge of Allegiance to be said during the school day, just like every other thing that the board wishes to be done, we give the directive to our principals and we empower our principals to enact the directive in the way that makes most sense for their schools,” he said. Murphy said that until recently there had never been a directive to the schools on whether or not the Pledge should be said. He suggested someone make a motion that directs the building principals to ensure that the Pledge of Allegiance is said each day in the school buildings. It would be left up to the principals to implement it. Board members raised several concerns during the discussion, including the exact definition of when instructional time starts. Two members expressed preference for the pledge to be said in classrooms. Cynthia Brownell said she has been on the board 23 years ‘and they’ve never had a problem saying the pledge in the classroom.” Murphy replied: “Do we know that to be a fact, Cindy? Because I don’t know that to be a fact.” “It has been done differently in all of the elementary schools of the SVUESD, when it’s been done at all," he added. "There are different things happening in each of our schools, and I know that I can say with any certainty that it’s definitely happened in a very specific way in all of our schools since forever, because I don’t know that to be the case.” Before the vote, Murphy acknowledged the difficulty in coming up with a directive that would please everyone: “I think it’s one of those situations where I’m unable to envision a solution that addresses all of the concerns that this board has raised and members of the public have raised, frankly.” The SVUESD is responsible for the prekindergarten through grade 6 classes in Pownal, Shaftsbury, Woodford, and pre-kindergarten through grade 5 in the town of Bennington.If Philadelphia Eagles star quarterback Jalen Hurts is unavailable for their Week 17 tilt with the rival Dallas Cowboys, they'll at least have Kenny Pickett at their disposal. Hurts remains in concussion protocol while also dealing with a finger injury on his non-throwing hand. He did not practice on Thursday, but QB2 Pickett (ribs) was a full participant. Pickett told reporters after practice Thursday that he expects to be able to play. He "tested out some different things padding-wise" in anticipation of being on the field Sunday against visiting Dallas, when the Eagles can clinch the NFC East title with a victory. "It is what it is. Just something I'm going to have to deal with," Pickett said. "So, yeah, I'll be ready to go for Sunday." Hurts was injured last Sunday in the Eagles' loss to the Washington Commanders. His head hit the turf while being tackled by Frankie Luvu and Bobby Wagner. Hurts connected on just 1 of 4 passes for 11 yards before he exited the game. Pickett took over and produced 143 yards, one touchdown and one interception on 14-of-24 passing as Washington rallied to beat Philadelphia 36-33. It was later revealed that Pickett hurt his ribs during the game. "I think after a couple more days, getting a chance to kind of rest it a little bit more, go do some rehab, I'll be good for Sunday," Pickett said. The only other quarterback on the Eagles' roster is Tanner McKee, a sixth-round pick in 2023 who has yet to play a snap for them. Philadelphia signed quarterback Ian Book to the practice squad earlier Thursday. --Field Level Media
The Australian sharemarket is tipped to open stronger after a quiet post-holiday session on Wall Street, where the latest data on jobless claims did little to change the minds of investors on where interest rates are headed next. The ASX 200 futures were up 0.2 per cent to 8,217 points as of 7.50 AEDT, while the Australian dollar was down 0.3 per cent to 62.19 US cents. Overnight, US stocks struggled to gain traction after a rally that sent the S&P 500 to its best Christmas Eve performance since 1974, according to data compiled by Bespoke Investment Group. With major European markets closed, volume in the US equity gauge was well below the average of the past month. US stocks are upbeat going into the new year, but volatility could be just around the corner. Credit: Bloomberg The S&P 500 hovered near 6,043 points, while the Nasdaq edged up 0.1 per cent to 20,055 points. The Dow Jones Industrial Average was little changed. Most megacaps fell, though Apple outperformed after a bullish note from Wedbush. GameStop rallied after an X post from Keith Gill, the online persona known as Roaring Kitty. Wall Street took the latest economic data in its stride. Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job. Initial claims, meanwhile, ticked down to 219,000 in the week ended December 21. “Eco data is a non-event until we move into the new year,” said Kenny Polcari at SlateStone Wealth. “Christmas is behind us, but the New Year is ahead of us. Volumes will remain muted.” To Jonathan Krinsky at BTIG, the market can continue to make upside progress into year-end, hitting a fresh all-time high for the S&P 500 above 6,100. Looking ahead to January, however, he thinks volatility will re-emerge. “If the S&P 500 does make new highs, there are going to be massive divergences in breadth and momentum, which is another red flag as we get into January,” he noted. The yield on 10-year Treasuries dropped one basis point to 4.58 per cent. The Bloomberg Dollar Spot Index rose 0.1 per cent. Bitcoin sank as traders reduced their risk exposure after a record-breaking run. Spot gold was up 0.8 per cent to $US2,634/ounce on thin trade. The precious metal has jumped 28 per cent this year, supported by monetary easing in the US, safe-haven demand and sustained buying by the world’s central banks. Meanwhile, Brent crude price slipped 0.6 per cent to $US73.12/barrel on news that US crude exports to China had slipped by almost half this year as shifts in the nation’s economy weighed on demand, and it bought more barrels from other countries, including Russia and Iran. With assistance from Omar El Chmouri and Aya Wagatsuma. Bloomberg L.P.
AP Trending SummaryBrief at 6:06 p.m. ESTAs part of a national “moonshot” to cure blindness, researchers at the CU Anschutz Medical Campus will receive as much as $46 million in federal funding over the next five years to pursue a first-of-its-kind full eye transplantation. “This is no easy undertaking, but I believe we can achieve this together,” said Dr. Kia Washington, the lead researcher for the University of Colorado-led team, during a press conference Monday. “And in fact I’ve never been more hopeful that a cure for blindness is within reach.” The CU team was one of four in the United States that received funding awards from the federal Advanced Research Projects Agency for Health , or ARPA-H. The CU-based group will focus on achieving the first-ever vision-restoring eye transplant by using “novel stem cell and bioelectronic technologies,” according to a news release announcing the funding. The work will be interdisciplinary, Washington and others said, and will link together researchers at institutions across the country. The four teams that received the funding will work alongside each other on distinct approaches, though officials said the teams would likely collaborate and eventually may merge depending on which research avenues show the most promise toward achieving the ultimate goal of transplanting an eye and curing blindness. Dr. Calvin Roberts, who will oversee the broader project for ARPA-H, said the agency wanted to take multiple “shots on goal” to ensure progress. “In the broader picture, achieving this would be probably the most monumental task in medicine within the last several decades,” said Dr. Daniel Pelaez of the University of Miami’s Bascom Palmer Eye Institute, which also received ARPA-H funding. Pelaez is the lead investigator for that team, which has pursued new procedures to successfully remove and preserve eyes from donors, amid other research. He told The Denver Post that only four organ systems have not been successfully transplanted: the inner ear, the brain, the spinal cord and the eye. All four are part of the central nervous system, which does not repair itself when damaged. If researchers can successfully transplant the human eye and restore vision to the patient, it might help unlock deeper discoveries about repairing damage to the brain and spine, Pelaez said, as well as addressing hearing loss. To succeed, researchers must successfully remove and preserve eyes from donors and then successfully connect and repair the optical nerve, which takes information from the eye and tells the brain what the eye sees. A team at New York University performed a full eye transplant on a human patient in November 2023, though the procedure — while a “remarkable achievement,” Pelaez said — did not restore the patient’s vision. It was also part of a partial face transplant; other approaches pursued via the ARPA-H funding will involve eye-specific transplants. Washington, the lead CU researcher, said she and her colleagues have already completed the eye transplant procedure — albeit without vision restoration — in rats. The CU team will next work on large animals to advance “optic nerve regenerative strategies,” the school said, as well as to study immunosuppression, which is critical to ensuring that patients’ immune systems don’t reject a donated organ. The goal is to eventually advance to human trials. Pelaez and his colleagues have completed their eye-removal procedure in cadavers, he said, and they’ve also studied regeneration in several animals that are capable of regenerating parts of their eyes, like salamanders or zebra fish. His team’s funding will focus in part on a life-support machine for the eye to keep it healthy and viable during the removal process. InGel Therapeutics, a Massachusetts-based Harvard spinoff and the lead of a third team, will pursue research on 3-D printed technology and “micro-tunneled scaffolds” that carry certain types of stem cells as part of a focus on optical nerve regeneration and repair, ARPA-H said. ARPH-A, created two years ago, will oversee the teams’ work. Researchers at 52 institutions nationwide will also contribute to the teams. The CU-led group will include researchers from the University of Southern California, the University of Wisconsin, Indiana University and Johns Hopkins University, as well as from the National Eye Institute . The teams will simultaneously compete and collaborate: Pelaez said his team has communicated with researchers at CU and at Stanford, another award recipient, about their eye-removal research. The total funding available for the teams is $125 million, ARPA-H officials said Monday, and it will be distributed in phases, in part dependent on teams’ success. U.S. Rep. Diana DeGette, a Democrat who represents Denver in Congress, acknowledged the recent election results at the press conference Monday and pledged to continue fighting to preserve ARPA-H’s funding under President-elect Donald Trump’s administration. The effort to cure blindness, Washington joked, was “biblical” in its enormity — a reference to the Bible story in which Jesus cures a blind man. She and others also likened it to a moonshot, meaning the effort to successfully put Neil Armstrong and Buzz Aldrin on the moon nearly 50 years ago. If curing blindness is similar to landing on the moon, then the space shuttle has already left the launchpad, Washington said. “We have launched,” she said, “and we are on our trajectory.”
Out-of-control bushfires in Victoria’s west are now estimated to have reached “the size of Singapore” as more residents are urged to evacuate. Communities in Bellellen, Pomonal, and Black Range were told on Friday morning to leave the area immediately. Relief centres have been established in Ararat at the Alexander Community Oval and at Grampians Community Health in Stawell. Those in Barton, Jimmy Creek, Kia Ora, Londonderry, Mafeking, Moyston, Watgania, and Willaura North have been warned it it too late to evacuate and that they must urgently take shelter. Authorities are advising residents in these areas to protect themselves and their families by wearing long-sleeved shirts and trousers, bringing pets inside, and sheltering in a room with two exits after ensuring all doors, windows or vents, and cooling systems are closed and shut off. A warning from VicEmergency issued on Friday morning read: “The extreme heat is likely to kill you well before the flames reach you.” TOO LATE: Residents in some areas have been told to take shelter and prepare for the worst. Picture: NewsWire / Diego Fedele The ABC reported on Friday morning that representatives of the State Control Centre now estimated the blaze - which has grown from 6000 hectares to 74,000 within a week - was “somewhere around the size of Singapore”. Hundreds of homes in Moyston, Willaura and Pomonal have lost power after the fire devastated crucial components of the region’s network. A spokesperson for Powercor said 363 customers in the region are currently without electricity. “We are working with emergency service agencies to safely gain access to the area to allow us to assess the damage and conduct repairs.” Some telephone communications have also been disrupted or cut off after the Mt Williams communications tower was destroyed on Boxing Day. It comes after more than 600 firefighters – including roughly 100 backup personnel from interstate – sacrificed their Christmas to protect homes in the region. More to come. Originally published as Grampians National Park bushfire now ‘size of Singapore’ as homes abandoned Environment Don't miss out on the headlines from Environment. Followed categories will be added to My News. More related stories Environment ’Extreme’: Horror forecast for one state Millions are bracing for scorching temperatures on their hottest day of summer so far as “extreme” fire danger looms. Read more Breaking News ‘Extreme’: Total fire ban for Sydney A total fire ban will be enforced in Sydney and other parts of NSW on Friday with temperatures expected to top 40C during the hottest day of summer yet. Read more
US to transform white elephant destroyers by fitting hypersonic weaponsA melee broke out at midfield of Ohio Stadium after Michigan upset No. 2 Ohio State 13-10 on Saturday. After the Wolverines' fourth straight win in the series, players converged at the block "O" to plant its flag. The Ohio State players were in the south end zone singing their alma mater in front of the student section. When the Buckeyes saw the Wolverines' flag, they rushed toward the 50-yard line. Social media posts showed Michigan offensive lineman Raheem Anderson carrying the flag on a long pole to midfield, where the Wolverines were met by dozens of Ohio State players and fights broke out. Buckeyes defensive end Jack Sawyer was seen ripping the flag off the pole and taking the flag as he scuffled with several people trying to recover the flag. A statement from the Ohio State Police Department read: "Following the game, officers from multiple law enforcement agencies assisted in breaking up an on-field altercation. During the scuffle, multiple officers representing Ohio and Michigan deployed pepper spray. OSUPD is the lead agency for games and will continue to investigate." Michigan running back Kalel Mullings on FOX said: "For such a great game, you hate to see stuff like that after the game. It's bad for the sport, bad for college football. At the end of the day, some people got to learn how to lose, man. "You can't be fighting and stuff just because you lost the game. We had 60 minutes and four quarters to do all that fighting. Now people want to talk and fight. That's wrong. It's bad for the game. Classless, in my opinion. People got to be better." Once order was restored, officers cordoned the 50-yard line, using bicycles as barriers. Ohio State coach Ryan Day in his postgame press conference said he wasn't sure what happened. "I don't know all the details of it. But I know that these guys are looking to put a flag on our field and our guys weren't going to let that happen," he said. "I'll find out exactly what happened, but this is our field and certainly we're embarrassed at the fact we lost the game, but there's some prideful guys on our team that weren't just going to let that happen." The Big Ten has not yet released a statement on the incident. --Field Level MediaTransportation management system provider BeyondTrucks teamed with electronic data interchange (EDI) platform Orderful . The collaboration will see BeyondTrucks embed Orderful’s EDI platform into its multi-tenant software-as-a-service (SaaS) transportation management system, according to a Monday (Dec. 23) press release . “EDI of the past is opaque, time-consuming, expensive and just simply outdated,” BeyondTrucks CEO Hans Galland said in the release. “Now with Orderful as our partner, our customers can elect to use the Orderful portal to manage EDI transactions in a rapid intuitive manner for all transactions and all trading partners. We are eliminating the need for a custom integration into BeyondTrucks with each and every partner.” By embedding the EDI platform into BeyondTrucks’ system, the company builds EDI connections between shippers and carriers by converting EDI data via an API , the release said . The integration gives users real-time data synchronization, instant visibility, automated compliance checks and intuitive error handling. In addition, BeyondTrucks fleet customers can access the Orderful portal for visibility into EDI data from shippers. Fleets can view when shippers make changes to load information but don’t communicate them or that information is not passed through to the BeyondTrucks system. “By embedding our platform, BeyondTrucks customers gain real-time visibility and faster connections, eliminating the headaches of traditional EDI and enabling them to operate more efficiently,” Orderful Chief Revenue Officer Jonathan Kish said in the release. The trucking industry is critical to the U.S. economy, moving more than 72% of freight by weight. However, outdated payment methods hurt efficiency, leading companies to search for faster, digital solutions. The PYMNTS Intelligence report “ Fast-Lane Finance: Accelerating Payments in the Trucking Industry ” found that nearly two-thirds of trucking companies manage at least seven different types of freight shipping, each needing separate payment processes. These include trucking, rail and shipping containers, all involving distinct payment methods, creating extra work for accounting teams. “The reliance on manual payment methods is problematic as it increases the risk of errors such as duplicate payments or miscalculated charges,” PYMNTS wrote this month.
Johnson & Johnson stock underperforms Thursday when compared to competitors
How technology is streamlining B2B payment landscape in IndiaBy Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The euro rallied on Thursday as French government bonds steadied a day after the collapse of France's government, even as bitcoin soared to a record past $100,000, with investors cheering the nomination of a pro-cryptocurrency head to run the U.S. Securities and Exchange Commission. The spread between French and German 10-year yields narrowed on Thursday to 76.9 basis points, the tightest gap since Nov. 22. That has helped support the euro. Despite Thursday's gains, however, the euro was on track to post a loss this week, the fourth in the last five weeks. French President Emmanuel Macron met allies and parliament leaders on Thursday as he sought to swiftly appoint a new prime minister to replace Michel Barnier, who officially resigned a day after opposition lawmakers voted to oust his government. "The market is looking at the financial implications of the French government's collapse. The takeaway seems to be that it's not as impactful to the spending plans as initially thought, and that's keeping the euro alive," said Amo Sahota, executive director at FX consulting firm Klarity FX. "We saw a lot of similarities when Greece is going through a lot of political instability and that could be a major drag on the euro zone. We got two large economies within the euro zone with struggling governments: France and Germany and analysts are concerned about the euro and they have already lowered their projections as a result." Germany was thrown into political disarray by the collapse of Chancellor Olaf Scholz's coalition last month as well as disagreements over government spending. The euro was last up 0.6% at $1.0567, further moving away from the two-year low of $1.0332 hit at the end of November as traders braced for a drawn-out reckoning for France. In terms of technical factors, Shaun Osborne, chief FX strategist at Scotiabank in Toronto, said the positive short-term price action on Wednesday coupled with moderate gains through the low $1.05s on Thursday, have given "the euro a shot at extending a little higher to test key resistance and potential bull trigger at $1.0590." Traders are also all but certain the European Central Bank will cut interest rates next week and are pricing in around 157 basis points of easing by the end of 2025. Meanwhile, bitcoin, the world's best known cryptocurrency, has been on a tear since November on expectations that Donald Trump's U.S. presidential election win will usher in a friendly regulatory environment for cryptocurrencies. It rose to an all-time high of $103,649 in Asian hours, boosted in part by President-elect Trump's nomination of pro-crypto Paul Atkins to run the SEC. It was last up 1.3% at $99,147, taking its year-to-date gains to more than 130%. "With a better U.S. regulatory environment and next-generation stablecoins driving adoption in Europe, we believe bitcoin and the broader crypto market could continue to go from strength to strength," wrote Arnoud Star Busmann, chief executive of Quantoz Payments, a Netherlands-based payments technology company. YEN ON THE RISE In Asia, the Japanese yen rose as high as 149.66 per dollar but was last up 0.4% at 150.01 as traders pondered whether the Bank of Japan will hike interest rates later this month. Analysts said comments from typically dovish policymaker Toyoaki Nakamura that he's not opposed to rate hikes helped push the currency higher. Expectations had been growing that the BOJ will hike rates at its Dec. 18-19 meeting, bolstered by comments from Governor Kazuo Ueda, although media reports published on Wednesday suggested the BOJ may skip a rate hike this month. The South Korean won dipped slightly as the nation's finance ministry said the government would activate 40 trillion won ($28.35 billion) worth of market stabilization funds after the chaos that followed President Yoon Suk Yeol's martial law declaration on Tuesday, which he rescinded hours later. The won was last down 0.2% at 1,413 per U.S. dollar. The dollar index, which measures the U.S. currency against six rivals, fell 0.6% to 105.74. It extended losses after data showed initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 224,000 for the week ended Nov. 30. Economists polled by Reuters had forecast 215,000 claims for the latest week. The spotlight will be on Friday's U.S. nonfarm payrolls report for November, which is expected to show 200,000 jobs added in the month, according to a Reuters survey, after only 12,000 jobs were created in October, the lowest number since December 2020. Bets on Fed rate cuts held broadly steady, however, partly influenced by Wednesday's weaker-than-expected services sector data and the higher-than-expected jobless claims. Markets are pricing in about a 70% chance of a 25-bp rate cut later this month, and a 30% chance of a pause. Currency bid prices at 5 December 09:06 p.m. GMT Descripti RIC Last U.S. Pct YTD Pct High Low on Close Change Bid Bid Previous Session Dollar 105.74 106.34 -0.54% 4.31% 106.37 105. index 69 Euro/Doll 1.0583 1.0509 0.7% -4.13% $1.059 $1.0 ar 509 Dollar/Ye 150.09 150.49 -0.29% 6.39% 150.76 149. n 69 Euro/Yen 158.85 158.29 0.35% 2.07% 159.38 157. 57 Dollar/Sw 0.8786 0.8847 -0.68% 4.41% 0.8852 0.87 iss 79 Sterling/ 1.2749 1.2702 0.38% 0.19% $1.2771 $1.2 Dollar 696 Dollar/Ca 1.4026 1.4074 -0.33% 5.82% 1.4078 1.40 nadian 11 Aussie/Do 0.6449 0.643 0.31% -5.4% $0.6455 $0.6 llar 422 Euro/Swis 0.9298 0.9292 0.06% 0.13% 0.9322 0.92 s 91 Euro/Ster 0.8298 0.8277 0.25% -4.27% 0.83 0.82 ling 73 NZ 0.5883 0.5852 0.57% -6.87% $0.5886 0.58 Dollar/Do 49 llar Dollar/No 11.0336 11.0513 -0.16% 8.87% 11.0809 11.0 rway 11 Euro/Norw 11.6831 11.6168 0.57% 4.09% 11.692 11.6 ay 124 Dollar/Sw 10.8522 10.9227 -0.65% 7.8% 10.9454 10.8 eden 5 Euro/Swed 11.4844 11.4815 0.03% 3.23% 11.5235 11.4 en 83 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Harry Robertson in London and Ankur Banerjee in Singapore; Editing by Shri Navaratnam, Tom Hogue, Sherry Jacob-Phillips, Susan Fenton, Frances Kerry, and Alexandra Hudson)Chinese President Xi Jinping's speech has instilled an even greater sense of confidence and optimism in the future of the Macao Special Administrative Region (SAR), and his emphasis on the success of the "One Country, Two Systems" with distinctive Macao features has resonated deeply with residents of the city. President Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, delivered a speech at the meeting celebrating the 25th anniversary of Macao's return to China and the inaugural ceremony of the sixth-term government of the Macao SAR at the Macao East Asian Games Dome on Friday morning. Macao has undergone earthshaking transformation, and its international standing has increased significantly over the past 25 years since its return to the motherland, Xi said in the speech. In 2023, Macao's GDP climbed to seven times the figure of 1999. Its per capita GDP now ranks among the world's highest. Macao is also one of the safest places globally. Education is free from kindergarten to senior high, and the average life expectancy in the region has risen to 83.1 years. Sam Hou Fai, the sixth-term chief executive of the Macao SAR, who was inaugurated on Friday, said over the past 25 years since Macao's return to the motherland, Macao has witnessed the most rapid economic growth and the most significant improvement in people's livelihoods in its history. It has been fully proven that the great motherland always has a strong backing for Macao's long-term prosperity and stability, said Sam. "We are confident that with the strong support of President Xi Jinping and the central government, along with the united efforts of all residents, we will undoubtedly achieve even greater and more remarkable success in the implementation of 'One Country, Two Systems,'" he said. In his speech on Friday, President Xi said "One Country, Two Systems" is a good policy that helps maintain long-term prosperity and stability in Hong Kong and Macao, serves the noble cause of building a stronger country and achieving national rejuvenation, and promotes peaceful coexistence and win-win cooperation between different social systems. He urged the new government of the Macao SAR to better leverage the institutional advantages of "One Country, Two Systems" and open up new prospects for the cause's high-quality development. Lau Pun Lap, president of the Macau Economic Association, said it is by staying committed to the fundamental policy of "One Country" and fully delivering the benefits of "Two Systems" that Macao has gained a continuous driving force for its progress. "'One Country' is fundamental. Without this foundation, 'Two Systems' would not exist," said Lau. Only by adhering to the principle of "One Country" can the advantages of "Two Systems" become more apparent, allowing Macao to access boundless development opportunities, he added. President Xi, in Friday's speech, also called on young people in Macao to assume the role of builders and successors of the cause of "One Country, Two Systems." "The young people are the hope and future of Macao," he said, adding that he met many outstanding young people during his three-day stay in Macao, including government workers, entrepreneurs and teachers. Sun Zhaolong, a researcher at the Macau Institute of Space Technology and Application under Macau University of Science and Technology, said President Xi would always come to Macao and visit schools and universities to engage with young people on the big anniversary of Macao's return to the motherland, like what he has done in 2014, 2019 and this year. "The times are changing quickly with many emerging industries. This era requires the new generation of youth to work hard," Sun told CGTN. Sun said he will continue to contribute to aerospace development, as a participant in the Macao Science-1 satellites program, the first space science satellite program jointly developed by the Chinese mainland and Macao. Luís Gomes, president of the Sports Bureau of the Macao SAR government, said he is confident in fulfilling the mission of being the builders and successors of the cause of "One Country, Two Systems." In the future, the Macao SAR will depend on the motherland, establish itself within the Greater Bay Area and connect with the world, contributing to Chinese modernization with its unique strengths, said Gomes.
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The US Navy is to transform three, white elephant, stealth destroyers by fitting them with first-of-their-kind shipborne hypersonic weapons. The USS Zumwalt is at a Mississippi shipyard where workers have installed missile tubes that replace twin turrets from a gun system that was never activated because it was too expensive. Once the system is complete, the Zumwalt will provide a platform for conducting fast, precision strikes from greater distances, adding to the usefulness of the warship. “It was a costly blunder. But the Navy could take victory from the jaws of defeat here, and get some utility out of (the ships) by making them into a hypersonic platform,” said Bryan Clark, a defence analyst at the Hudson Institute. The US has had several types of hypersonic weapons in development for the past two decades, but recent tests by both Russia and China have added pressure to the US military to hasten their production. Hypersonic weapons travel beyond Mach 5, five times the speed of sound, with added manoeuvrability making them harder to shoot down. Last year, The Washington Post newspaper reported that among the documents leaked by former Massachusetts Air National Guard member Jack Teixeira was a defence department briefing that confirmed China had recently tested an intermediate-range hypersonic weapon called the DF-27. While the Pentagon had previously acknowledged the weapon’s development, it had not recognised its testing. One of the US programmes in development and planned for the Zumwalt is the Conventional Prompt Strike. It would launch like a ballistic missile and then release a hypersonic glide vehicle that would travel at speeds seven to eight times faster than the speed of sound before hitting the target. The weapon system is being developed jointly by the Navy and Army. Each of the three Zumwalt-class destroyers would be equipped with four missile tubes, each with three of the missiles for a total of 12 hypersonic weapons per ship. In choosing the Zumwalt, the Navy is attempting to add to the usefulness of a 7.5 billion US dollars (£5.9 billion) warship that is considered by critics to be an expensive mistake despite serving as a test platform for multiple innovations. The Zumwalt was envisioned as providing land-attack capability with an advanced gun system with rocket-assisted projectiles to open the way for Marines to charge ashore. But the system featuring 155mm guns hidden in stealthy turrets was cancelled because each of the rocket-assisted projectiles cost up to one million dollars (£790,000). Despite the stain on their reputation, the three Zumwalt-class destroyers: Zumwalt, Michael Monsoor and Lyndon B Johnson; remain the Navy’s most advanced surface warships in terms of new technologies. Those innovations include electric propulsion, an angular shape to minimise radar signature, an unconventional wave-piercing hull, automated fire and damage control and a composite deckhouse that hides radar and other sensors. The US is accelerating development because hypersonics have been identified as vital to US national security with “survivable and lethal capabilities”, said James Weber, principal director for hypersonics in the Office of the Assistant Secretary of Defense for Critical Technologies. “Fielding new capabilities that are based on hypersonic technologies is a priority for the defence department to sustain and strengthen our integrated deterrence, and to build enduring advantages,” he said.(All times Eastern) Schedule subject to change and/or blackouts Sunday, Dec. 22 COLLEGE BASKETBALL (MEN’S) 1 p.m. ESPN — Illinois vs. Missouri, St. Louis SECN — Kent St. at Alabama 2 p.m. ACCN — American U. at Virginia BTN — Detroit at Wisconsin 3 p.m. ESPN — Brown at Kansas ESPN2 — Diamond Head Classic: Oregon St. vs. Charleston, Quarterfinal, Honolulu 3:30 p.m. SECN — Charleston Southern at Georgia 4 p.m. ACCN — Rider at NC State BTN — Southern U. at Southern Cal 5:30 p.m. ESPN2 — Diamond Head Classic: Loyola of Chicago vs. Oakland, Quarterfinal, Honolulu 6 p.m. ACCN — LeMoyne at Notre Dame 7 p.m. FS1 — Georgetown vs. Seton Hall, Newark, N.J. 9 p.m. ESPN — Diamond Head Classic: Nebraska vs. Murray St., Quarterfinal, Honolulu 11:30 p.m. ESPN2 — Diamond Head Classic: Charlotte vs. Hawaii, Quarterfinal, Honolulu COLLEGE VOLLEYBALL (WOMEN’S) 3 p.m. ABC — NCAA Tournament: Louisville vs. Penn St., Championship, Louisville, Ky. GOLF 11:30 a.m. GOLF — PGA Tour: The PNC Championship, Day 2, Ritz-Carlton Golf Club, Orlando, Fla. 1:30 p.m. NBC — PGA Tour: The PNC Championship, Day 2, Ritz-Carlton Golf Club, Orlando, Fla. HORSE RACING 3 p.m. FS1 — NYRA: America’s Day at the Races NBA G-LEAGUE BASKETBALL 10:30 a.m. NBATV — Winter Showcase: Indiana vs. Texas, Orlando, Fla. 1 p.m. NBATV — Winter Showcase: College Park vs. Osceola, Orlando, Fla. 7:30 p.m. ESPN2 — Winter Showcase: TBD, Championship, Orlando, Fla. NFL FOOTBALL 1 p.m. CBS — Regional Coverage: Tennessee at Indianapolis, L.A. Rams at N.Y. Jets, Cleveland at Cincinnati FOX — Regional Coverage: N.Y. Giants at Atlanta, Detroit at Chicago, Philadelphia at Washington, Arizona at Carolina 4:05 p.m. FOX — Minnesota at Seattle 4:25 p.m. CBS — Regional Coverage: New England at Buffalo, Jacksonville at Las Vegas, San Francisco at Miami 8:20 p.m. NBC — Tampa Bay at Dallas PEACOCK — Tampa Bay at Dallas NHL HOCKEY 12:30 p.m. NHLN — Carolina at N.Y. Rangers 8 p.m. NHLN — Seattle at Colorado SNOWBOARDING 4:30 p.m. NBC — FIS: World Cup, Copper Mountain, Colo. SOCCER (MEN’S) 8:35 a.m. FS2 — The French Cup: Olympique de Marseille at AS Saint-Étienne, Round of 64 9 a.m. USA — Premier League: Chelsea at Everton 11:30 a.m. USA — Premier League: Liverpool at Tottenham Hotspur Noon CBSSN — Serie A: Empoli at Atalanta 2:50 p.m. FS2 — The French Cup: Paris Saint-Germain at RC Lens, Round of 64 TENNIS 11 a.m. TENNIS — Next Gen ATP Finals: Final The Associated Press created this story using technology provided by Data Skrive TV listings provided by LiveSportsOnTV .
