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LOS ANGELES — In announcing that he was pardoning his son Hunter in two federal cases, President Joe Biden said the criminal charges “came about only after several of my political opponents in Congress instigated them to attack me and oppose my election.” The president’s claim that the cases were politically motivated — which his son’s camp has long asserted — has been met with skepticism from some corners. Biden was convicted by a jury of illegally purchasing a handgun in Delaware, and he pleaded guilty to tax charges in Los Angeles. Here is what we know about the cases and the pardon. What is the gun case? Earlier this year, a federal jury in Delaware convicted Biden of federal gun crimes, including lying about being drug-free when he purchased and briefly owned a gun while he was addicted to crack cocaine. Biden was on trial for three felony charges, and the jury convicted him of all three. In addition to lying on a federal background check form and giving a false statement to a federal firearms dealer, he was also convicted of possessing a gun while being an illicit drug user. The testimony the jurors heard centered around a question Biden answered on a background check form at a Delaware gun store on Oct. 12, 2018: “Are you an unlawful user of, or addicted to, marijuana or any depressant, stimulant, narcotic drug, or any other controlled substance?” Biden checked “No.” Prosecutors told jurors that there was “overwhelming evidence” of Biden’s drug use in the years before and the months after the gun purchase. They summoned ex-girlfriends and photos of L.A. hotel rooms where Biden had gone on drug-fueled benders. Prosecutors also played excerpts of Biden’s memoir, Beautiful Things, in which he recounted years of hard partying following his brother’s death. Abbe Lowell, the defense attorney, argued to jurors that his client had completed a rehab program in L.A. and that the gun salesman did not perceive Biden to be under the influence or glassy-eyed. No witness at the trial testified to observing Biden using drugs in the days after purchasing the Colt Cobra revolver. His attorneys contended that the gun was never fired and remained locked up until Hallie Biden, his brother’s widow, found it on the morning of Oct. 23, 2018, and in a panic, disposed of it in a trash bin outside a nearby grocery store. Biden, who was dating Hallie Biden at the time, urged her to retrieve the gun once he discovered it missing, asking her, “Are you insane?” When Hallie Biden returned to the supermarket, the gun was gone from the trash can, and Biden instructed her to contact police. What did jurors say about the politics of the case? The Times interviewed two jurors— a 51-year-old woman from northern Delaware and a 68-year-old man from the southern half of the state. Speaking on condition of anonymity, both said there was clear evidence that Biden knowingly lied about his drug addiction in order to buy the gun. The male juror said that despite repeatedly noticing the first lady in the courtroom, he rarely thought of the fact that Hunter Biden was the president’s son. “You are looking at him. You are looking at his family,” the juror said of the experience in court. But he said he “tried to block the rest of it out” because Biden “was just like everybody else.” “It was not politically motivated. Politics played no part in this whatsoever. Again, we just went by the evidence,” the juror said. What about the tax case? In September, Hunter Biden pleaded guilty to all nine federal tax charges he faced, just as jury selection was about to begin in a downtown Los Angeles courtroom. The indictment in the tax case included racy details of Biden’s life between 2016 and 2019 — the period during which now he admits he failed to pay at least $1.4 million in federal taxes — including the hundreds of thousands of dollars he spent on escorts, a pornographic website, hotels, luxury car rentals and other lavish personal expenses. As part of his guilty plea, Biden had acknowledged improperly classifying his personal expenses as business expenses. Did Hunter Biden face prison time? In the tax case, Biden faced a maximum of 17 years in federal prison, although he was likely to be sentenced to a few years in prison at most. In the gun case, he faced a maximum penalty of 25 years in prison, although as a nonviolent first-time offender, he was likely to face no more than two years behind bars. In the tax case, U.S. District Judge Mark Scarsi was scheduled to sentence him in Los Angeles on Dec. 16. In the handgun case, U.S. District Judge Maryellen Noreika was set to hand down her sentence in Delaware on Dec. 12. Both judges were appointed to the bench by President Donald Trump. What does the pardon do? The pardon covers offenses that Hunter Biden “may have committed or taken part in” from Jan. 1, 2014, through Dec. 1, 2024. It effectively wiped away the two pending criminal cases in which the younger Biden faced years in prison. However, it also offers immunity for other conduct in that period, when he was active in foreign business dealings, including his seat on the board of Burisma, the Ukrainian natural gas company he joined in 2014 while his father was vice president. “No reasonable person who looks at the facts of Hunter’s cases can reach any other conclusion than Hunter was singled out only because he is my son — and that is wrong,” Biden said in his statement. “There has been an effort to break Hunter — who has been five and a half years sober, even in the face of unrelenting attacks and selective prosecution.” Shortly after the pardon was issued, Hunter Biden’s lawyers filed petitions to have both criminal cases dismissed. How is this a change in the president’s position? The White House and President Biden himself have long insisted he would not pardon his son. Shortly before the trial testimony began, President Biden told ABC journalist David Muir that he would accept the jury’s verdict in the Delaware case. “Have you ruled out a pardon for your son?” Muir asked. “Yes,” Biden replied. After the gun verdict, the president said he would continue to “respect the judicial process” while his son considered an appeal. What has Hunter Biden’s team claimed about the prosecutions? Hunter Biden has long been the target of ire from right-wing political figures, activists and the media. In both criminal cases, Hunter Biden and his legal team had sought to paint him as a victim of selective, unfair, and politically motivated prosecution. His lawyers had pointed to a plea deal reached in 2023 that would have spared Hunter any prison time. It unraveled under questioning from a judge in Delaware, and after the deal collapsed, David C. Weiss, the special counsel, secured indictments in both cases. Hunter Biden filed but later dropped a defamation lawsuit against Fox News over a fictional program that depicted his legal troubles. Hunter Biden’s lawsuit asserted that Fox News defamed him in a six-part series called “The Trial of Hunter Biden: A Mock Trial for the American People” that was shown on its streaming platform Fox Nation. ©2024 Los Angeles Times. Visit at latimes.com . Distributed by Tribune Content Agency, LLC.OptiSigns to Showcase Cutting-Edge Digital Signage Solutions at the Digital Signage Experience 2024 in Las Vegas
There's nothing quite like slipping into a freshly dry-cleaned outfit — crisp, pristine and ready to conquer the day. But have you ever wondered about the process behind these immaculate results? Dryel At-Home Dry Cleaner Kit OGHom Steamer for Clothes, Handheld Clothing Steamer SALAV® Heavy Duty Commercial Full-Size Garment Steamer Woolite Extra Delicates Laundry Detergent Dirty Labs | Hand Wash and Delicates | Scent Free | 32 Loads Heritage Park Silk & Wool Fragrance Free Laundry Detergent Minky Homecare Outdoor Retractable Dual Clothesline Household Essentials Single Line Retractable Clothesline Whitmor 6026-2884 ClotheClothes Pins, S/50, Natural Wood, 50 40 Pack Clothes Pins Heavy Duty Amazon Basics Foldable Portable Laundry Drying Rack Honey-Can-Do Heavy Duty Gullwing Drying Rack, White Metal Despite its name, dry-cleaning isn't dry. Instead of water, your garments are bathed in a liquid solvent, typically perchloroethylene (PCE) — commonly known as PERC — that adeptly dissolves oil and grease without harming the fabric. Stains are pretreated with specialized agents before the clothes are submerged in PERC and gently agitated to remove dirt. Modern dry-cleaning machines operate in a closed-loop system, recovering nearly all the solvent to minimize environmental impact and reduce costs. After cleaning, any remaining stains are addressed, and the garments are pressed and given final touches. While effective, PERC and another closely related industrial solvent — trichloroethylene (TCE) — have been identified as potential health hazards. In response to these findings, the U.S. Environmental Protection Agency (EPA) has taken significant steps to , which have been staples in the dry-cleaning industry for years. Dr. Paul Savage, founder and CEO at and a toxin expert, emphasizes the significance of this regulatory action, "The EPA's decision to ban TCE and PCE solvents is a watershed moment in public health policy. These carcinogenic chemicals, widely used in dry-cleaning and industrial applications, have been linked to cancers such as kidney, liver and testicular cancers, as well as non-Hodgkin’s lymphoma," he explains. These risks are present, even at very low exposure levels. Furthermore, their widespread presence in the environment contaminates water, soil, air and even food, underscoring the urgent need for decisive action. , associate professor at Texas Christian University, explains, " have linked long-term exposure to increased cancer risks among dry-cleaning workers and nearby communities. Communities near dry-cleaning facilities using PERC have reported higher rates of cancer, prompting EPA action under the ." This regulatory crackdown has prompted a reevaluation of garment care routines. As the phaseout of these chemicals progresses over the next decade, the industry is expected to adopt safer, more sustainable alternatives. But in the meantime, what steps should you take to safeguard your health? Let's uncover the truth about what lingers in your clothes, explore how these changes impact your wardrobe and wellness and consider safer alternatives to dry-cleaning. PERC and TCE have long been integral to the dry-cleaning industry, thanks to their potent grease-busting properties. PCE has been the predominant solvent in dry-cleaning, prized for its chemical stability and nonflammable nature, which allow it to remove stains without damaging delicate fabrics. While TCE is less commonly used in dry-cleaning, it plays a significant role in industrial applications such as metal degreasing and as an ingredient in various cleaning products. However, exposure to PERC and TCE pose significant health risks: : Both chemicals are classified as probable human carcinogens. PCE exposure has been linked to cancers of the liver, kidney, brain and testicles, while TCE exposure is associated with . : Short-term exposure to high levels of these solvents can lead to dizziness, headaches and cognitive impairments. Chronic exposure may result in long-term neurological damage. : that PCE and TCE may adversely affect reproductive health and compromise immune system function. The health consequences are not the only concerns. The environmental persistence of PERC and TCE also presents dangers. Improper disposal and leaks can lead to soil and groundwater contamination, posing risks to ecosystems. Furthermore, the volatilization of these chemicals contributes to air quality degradation, affecting both indoor and outdoor environments. The EPA's ban will reduce the impact of PERC and TCE on several groups, including employees in the dry-cleaning sector who are regularly exposed to high levels of these chemicals and residents living near dry-cleaning businesses. As Galbadage notes, " PERC emissions contaminate indoor air and groundwater, disproportionately affecting vulnerable populations living near dry-cleaning facilities. Phasing out PERC addresses these health inequities." Around are employed in the laundry and dry-cleaning industry in the U.S. These individuals can inhale toxic fumes, leading to delirium, severe respiratory issues and death, while chronic low-level exposure significantly increases cancer and other health risks. But what about consumers? Studies assessing PERC and TCE levels in dry-cleaned fabrics are few and far between. However, found that wool, polyester and cotton fabrics retained significant amounts of PCE after dry-cleaning, with levels increasing after multiple cleaning cycles. In contrast, silk fabrics didn't retain noticeable amounts. Furthermore, PCE slowly evaporated from the fabrics when exposed to normal room air conditions, indicating that the chemical lingers in clothing and is potentially released into the environment over time. The amount of PCE residue varied between different dry-cleaning establishments, suggesting that cleaning processes and equipment efficiency can influence chemical retention in fabrics. So, even though dry-cleaned clothes are considered “safe” to wear, the chemicals may still pose some risks, especially to those with sensitive skin or those who regularly dry-clean their clothes, leading to greater buildup. The controversy surrounding PERC and TCE isn't new. In the absence of federal regulations, some states have taken action. For example, California began phasing out PERC in dry-cleaning in 2007 after identifying it as a in 1991, with a deadline to stop using PERC in dry-cleaning processes by Jan. 1, 2023. Recognizing these hazards, the EPA has established a 10-year timeline for phasing out PCE in dry- cleaning. The agency has also banned all consumer uses and many commercial applications of TCE, with most prohibitions taking effect within a year. As Savage notes, "It’s encouraging to see the EPA take this step, but it’s important to recognize that the full elimination of PERC may take time. Consumers should proactively seek out eco-friendly cleaning options in the meantime." But why is there such an extended period to eliminate these chemicals? Several factors influence this extended timeline: The dry-cleaning industry predominantly comprises small, family-owned businesses. Immediate compliance with new regulations would require significant investments in alternative solvents and equipment, potentially imposing financial burdens that could jeopardize their operations. Identifying, testing and implementing safer alternatives to PERC and TCE is a complex process. Industries need adequate time to research and adopt practical and economically viable substitutes. Dry-cleaning machines and other industrial equipment represent substantial investments with long operational lifespans. Mandating an abrupt cessation of PERC and TCE use would render existing equipment obsolete, leading to financial losses. Transitioning to new chemicals or processes necessitates comprehensive employee training to ensure safe and effective use. The production and distribution networks for alternative chemicals and equipment need time to scale to meet increased demand. A phased approach ensures supply chains can adjust without causing shortages or delays. The timeline for phasing out PERC and TCE reflects a strategic effort to protect public health while allowing industries sufficient time to adapt. If you'd prefer to avoid traditional dry-cleaning as it transitions away from PERC and TCE, several safer and more sustainable alternatives are available for garment care. Commercial wet cleaning Commercial wet cleaning uses water and biodegradable detergents, making it suitable for delicate fabrics like wool and silk. It's an environmentally friendly method that eliminates the health risks of solvents. Specialized equipment allows for gentle agitation and precise control over variables like temperature and moisture, ensuring thorough cleaning without damaging your clothes. Liquid carbon dioxide cleaning This innovative technique employs pressurized liquid carbon dioxide (CO2) as a solvent. Garments are placed in a specialized machine where CO2 removes dirt and stains. The process is energy-efficient and avoids toxic chemicals. Additionally, the CO2 used is often captured as a by-product of existing industrial processes, further reducing environmental impact. Win win! Handwashing and line-drying Let's go old school and do the washing by hand! For many “dry-clean only” items, gentle handwashing with mild detergent is a safe alternative. After washing, flat drying helps maintain the garment's shape and quality. It's an economical, chemical-free method, but check care labels and test a small area first to ensure the fabric can handle water without damage. Steam cleaning Steam can remove odors and light stains. Handheld steamers or steam functions on irons can refresh garments without full washing. Steam cleaning is gentle on fabrics and reduces the need for chemical cleaners. It's particularly useful for items that wrinkle easily or have been in storage. At-home dry-cleaning kits These kits are a convenient way to freshen garments using your dryer. However, their effectiveness varies, and some may still contain chemicals of concern. The Environmental Working Group (EWG) has evaluated products like and is less than impressed with their safety profiles. It's advisable to research specific products and consider their ingredients before use. Attempting to care for delicate “dry-clean-only” garments at home can be a bit daunting — one wrong move, and you could have a shredded silk or shrunken wool disaster on your hands. But with the correct methods, you can keep your wardrobe pristine without risking fabric fiascos. Here are our top picks for safely cleaning dry-clean-only clothing at home. In addition to in-dryer dry- cleaning kits, we've selected our favorite steamers, gentle detergents and accessories for line drying garments, as dry-clean-only fabrics typically shouldn't be thrown in the dryer. This is a convenient solution for refreshing delicate and dry-clean-only garments in 20 minutes. The starter kit includes a stain-removal pen to pretreat stains and eight cleaning cloths. Simply place a cloth in the dryer with one to five garments of similar material and tumble dry on medium heat. The kit also contains a scented wrinkle-releaser spray to remove static and wrinkles between cleanings. It works on most fabrics, including wool, linen, silk and denim. Nearly 500 Amazon reviews have rated this product 4.5 stars out of 5. , "This really works," and "The stain remover is incredibly effective." Another , "I'm beyond amazed. I put a cleaning sheet in with two filthy pairs of linen pants. 20 minutes later, the pants are fresh, clean and wrinkle free. I don't know how these possibly work, but they really really do." However, it's important to note that kits like these still include chemicals, although they're free from banned substances. Other Dryel products have scored poorly in EWG ingredient concern ratings, although not this one specifically. With over 51,000 reviews averaging 4.3 stars out of 5 and costing under $25, the is a solid choice. The 240ml water tank heats up in under 2 minutes and provides up to 15 minutes of continuous steam. Plus, the 9-foot power cord makes it convenient to use. Customers love its compact size, making it suitable for travel. However, note that while effective on light to medium fabrics, it may be less efficient on larger, heavier items. If you're looking for something that can handle heavy-duty cleaning, the is a better choice. This robust appliance has 1,800 watts of steam power and an extra-large 3-liter water tank, providing up to 90 minutes of continuous steam. This detergent is specifically formulated for delicate fabrics, with a hypoallergenic solution free from harsh ingredients like bleach, phosphates or enzymes. Leveraging bioenzyme technology, this detergent cleans delicate fabrics without compromising their quality. It's hyperconcentrated, nontoxic and biodegradable. This pH-neutral, hypoallergenic detergent is free from enzymes, ultraconcentrated and dermatologist-tested, making it a reliable choice for washing delicate garments, particularly silk and wool. Retractable clotheslines are perfect for indoor and outdoor use, providing flexibility and saving space. The is a heavy-duty, PVC-coated line with a massive 98 feet of drying space. If your space is smaller, the has 40 feet of drying space. This is a great addition to laundry rooms or even bedrooms when you need to hang up clothes inside. Clothespins are essential for securing garments to clotheslines, preventing them from falling or being thrown around by the wind. While there are lots of affordable options to choose between, these simple, classic wooden clothespins come in a pack of 50. Wooden clothespins sometimes break with frequent use. These stainless-steel pins are a good alternative (and they're ones that Yahoo Health Editor, Laura Williams, personally uses). Drying racks are versatile tools for flat-drying clothes so they keep their shape. They come in various designs to accommodate different spaces and laundry volumes. This lightweight yet sturdy rack offers ample space for drying clothes and folds flat for easy storage. This rack is ideal for large families and has multiple drying positions and a high capacity. What is PERC, and why is it being banned? "PERC refers to perchloroethylene, a harmful volatile organic compound (VOC) widely used as a solvent in dry-cleaning shops. However, it is also used by consumers as brake cleaners and adhesive products, as well as for many industrial processes," explains , associate specialist in air pollution exposure assessment and epidemiology at the UC Irvine Program in Public Health. It's also worth noting that PERC can degrade into TCE, another cancer-causing solvent. "The EPA's recent move to ban PERC is due to the chemical's casual link with many adverse health conditions including liver, kidney, brain and testicular cancer, as well as damage to the kidney, liver and immune system, neurotoxicity and reproductive toxicity," Masri continues. Is PERC completely banned in dry-cleaning? PERC is not yet banned, explains Masri. In December 2024, the EPA issued a final rule prohibiting many uses of PCE and for those uses that are not prohibited. This includes implementing a Workplace Chemical Protection Program and prescriptive controls to ensure safety in environments where PCE is still in use. Specifically for the dry-cleaning sector, the EPA has set a 10-year withdrawal period to eliminate the risk to individuals who work or spend considerable time at dry-cleaning facilities. "The EPA’s action focuses on phasing out PERC from dry-cleaning, with clear deadlines for industries to adopt safer alternatives. However, some facilities may temporarily continue to use PERC as they transition to modern technologies. The extent of the ban will also depend on enforcement timelines and compliance at the local level," explains Savage. Galbadage notes that using PCE in newly acquired dry-cleaning machines is prohibited after six months from the rule's issuance. Compliance dates for existing machines vary depending on their type, with older machines being phased out sooner than newer ones. Many dry-cleaners have already begun this transition. Therefore, while PCE is not entirely banned in dry-cleaning, its use is being systematically eliminated, with complete prohibition expected within the next decade. What is the EPA doing to enforce the ban? "Effective enforcement is key to the success of this initiative," says Savage. This year has seen the EPA , doubling financial penalties issued to polluters and initiating its first-ever arrest related to a climate change crime. "The EPA is enforcing the ban through stringent regulations, requiring industries to adopt safer alternatives and providing oversight to ensure compliance. They are also working with state and local agencies to monitor progress and implement penalties for noncompliance," Savage adds. Masri also notes that measures include mandatory recordkeeping, reporting and environmental monitoring. For example, chemical manufacturers and processors must maintain detailed records of significant adverse reactions to health or the environment caused by chemical substances. These records must be available for EPA inspection upon request. In 2024, the agency concluded over 1,850 civil cases and charged 121 criminal defendants, reflecting a commitment to reducing pollution and protecting public health. With the addition of 300 new employees, the EPA is now better equipped to enforce regulations concerning PERC and TCE in dry-cleaning and other sectors, ensuring compliance to protect public health and the environment. What can I do to minimize my exposure to PERC? You can significantly reduce your exposure to PERC by adopting these practices: : Opt for dry-cleaners using non-PERC methods, such as wet or liquid carbon dioxide cleaning, suggests Savage. : Galbadage recommends storing dry-cleaned garments in well-ventilated areas to dissipate residual PERC fumes. : Before bringing dry-cleaned items into your home, remove them from plastic bags and air them outdoors, says Savage. Masri adds, "Find out if you live downwind of a nearby dry-cleaning shop and purchase a if so." Look for one with an activated carbon filter. Some models combine these with HEPA filters to also capture particulate matter. Masri advises caution when using certain cleaning solvents, carpet cleaners and adhesives that may contain PCE. Opt for alternatives labeled as PCE-free or those using safer solvents. : Stay up-to-date with EPA guidelines and local regulations regarding PERC use and exposure. Because PCE can contaminate groundwater and drinking water supplies, Masri also recommends testing your water for contamination, especially if you rely on well water or live near industrial areas. Certified laboratories can perform these tests, and local health departments can guide testing procedures. , associate specialist in air pollution exposure assessment and epidemiology at the UC Irvine Program in Public Health Paul Savage, MD, founder and CEO at and a toxin expert , associate professor at Texas Christian UniversityNFL commissioner Roger Goodell on Wednesday said a rape allegation against rapper Jay-Z won't impact the league's relationship with Roc Nation, the music mogul's company that has produced some of the NFL's entertainment presentations, including the Super Bowl halftime show. "We're aware of the civil allegations and Jay-Z's really strong response to that," Goodell said after the conclusion of the league's winter meetings in Irving, Texas. "We know the litigation is happening now. From our standpoint, our relationship is not changing with them, including our preparations for the next Super Bowl." A woman who previously sued Sean "Diddy" Combs, alleging she was raped at an awards show after-party in 2000 when she was 13 years old, amended the lawsuit Sunday to include a new allegation that Jay-Z was also at the party and participated in the sexual assault. Jay-Z, whose real name is Shawn Carter, said the rape allegation made against him is part of an extortion attempt. The 24-time Grammy Award winner called the allegations "idiotic" and "heinous in nature" in a statement released by Roc Nation. The NFL teamed up with Jay-Z's Roc Nation in 2019 for events and social activism. The league and the entertainment company extended their partnership a few months ago. "I think they're getting incredibly comfortable with not just with the Super Bowl but other events they've advised us on and helped us with," Goodell said. "They've been a big help in the social justice area to us on many occasions. They've been great partners." Kendrick Lamar will perform the Super Bowl halftime show at the Caesars Superdome in New Orleans on Feb. 9. Roc Nation and Emmy-winning producer Jesse Collins will serve as co-executive producers of the halftime show. Beyoncé, who is married to Jay-Z, will perform at halftime of the Baltimore Ravens-Houston Texans game on Christmas. The video in the player above is from a previous report. The Associated Press contributed to this report.
NFL commissioner Roger Goodell on Wednesday said a rape allegation against rapper Jay-Z won't impact the league's relationship with Roc Nation, the music mogul's company that has produced some of the NFL's entertainment presentations, including the Super Bowl halftime show. "We're aware of the civil allegations and Jay-Z's really strong response to that," Goodell said after the conclusion of the league's winter meetings in Irving, Texas. "We know the litigation is happening now. From our standpoint, our relationship is not changing with them, including our preparations for the next Super Bowl." A woman who previously sued Sean "Diddy" Combs, alleging she was raped at an awards show after-party in 2000 when she was 13 years old, amended the lawsuit Sunday to include a new allegation that Jay-Z was also at the party and participated in the sexual assault. Jay-Z, whose real name is Shawn Carter, said the rape allegation made against him is part of an extortion attempt. The 24-time Grammy Award winner called the allegations "idiotic" and "heinous in nature" in a statement released by Roc Nation. The NFL teamed up with Jay-Z's Roc Nation in 2019 for events and social activism. The league and the entertainment company extended their partnership a few months ago. "I think they're getting incredibly comfortable with not just with the Super Bowl but other events they've advised us on and helped us with," Goodell said. "They've been a big help in the social justice area to us on many occasions. They've been great partners." Kendrick Lamar will perform the Super Bowl halftime show at the Caesars Superdome in New Orleans on Feb. 9. Roc Nation and Emmy-winning producer Jesse Collins will serve as co-executive producers of the halftime show. Beyoncé, who is married to Jay-Z, will perform at halftime of the Baltimore Ravens-Houston Texans game on Christmas. The video in the player above is from a previous report. The Associated Press contributed to this report.TORONTO — Canada's main stock index lost nearly 250 points Thursday, led by weakness in energy and base metals, while U.S. markets also fell. The S&P/TSX composite index closed down 246.99 points at 25,410.71. In New York, the Dow Jones industrial average was down 234.44 points at 43,914.12. The S&P 500 index was down 32.94 points at 6,051.25, while the Nasdaq composite was down 132.05 points at 19,902.84. “I think the markets had some time to now digest where rates could be going into the near term,” said Adelaide Chiu, portfolio manager, vice-president and head of responsible investing at NEI Investments. On Wednesday, the Bank of Canada announced an outsized half-percentage point interest rate cut and signalled it would slow the pace of cuts going forward. “With the policy rate now substantially lower, we anticipate a more gradual approach to monetary policy if the economy evolves broadly as expected," said Bank of Canada governor Tiff Macklem. And in the U.S., the monthly report on consumer inflation came in largely as expected, helping set the stage for a quarter-point cut by the U.S. Federal Reserve next week. Globally, interest rate cuts are moderating as inflation reaches targets, Chiu said. On Thursday, the European Central Bank cut rates by a quarter of a percentage point while the Swiss National Bank cut by half a percentage point. A year ago, market watchers couldn’t have predicted just how much equities would rise in 2024, said Chiu. “Earnings growth itself has been quite modest, but the market has done very well,” she said. “It’s really a movement of the interest rates that has really impacted valuations for a lot of these companies in the market.” Now, the news is largely focused on the incoming U.S. president and whether his threatened tariffs will come to pass, Chiu said. The Canadian dollar traded for 70.48 cents US compared with 70.65 cents US on Wednesday. The January crude oil contract was down 27 cents at US$70.02 per barrel and the January natural gas contract was up eight cents at US$3.46 per mmBTU. The February gold contract was down US$47.30 at US$2,709.40 an ounce and the March copper contract was down a penny at US$4.20 a pound. -- With files from The Associated Press This report by The Canadian Press was first published Dec. 12, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressNearly half of US teens say they are online ‘almost constantly,’ survey finds
RALEIGH, N.C. (AP) — Aziaha James had 21 points, eight rebounds and five assists, Devyn Quigley scored a career-high 20 points and made four 3-pointers and NC State beat Coastal Carolina 89-68 on Thursday. NC State had its lead trimmed to 54-46 midway through the third quarter before James scored five straight points to begin a 13-2 run that ended in a 19-point lead. Quigley took over in the fourth, making three 3-pointers and scoring 15 points. Coastal Carolina missed 11 of 13 shots spanning the third-quarter break as NC State pulled away. Madison Hayes added 18 points on 7-of-10 shooting for NC State (3-2). James has scored 20-plus in three straight games. The Wolfpack shot 50% from the field, including 11 of 29 from 3-point range. Hayes made her third 3-pointer with 1:12 left in the first half to give NC State a 47-32 lead. Coastal Carolina's Savannah Brooks just beat the halftime buzzer with a basket to give her 17 points and pull within 47-36. Brooks scored 14 of Coastal Carolina’s opening 26 points and she finished the game with 25. Alancia Ramsey added 13 points for Coastal Carolina (4-1), which was picked to finish ninth in the Sun Belt Conference. The Wolfpack travel to the Bahamas to play in the Pink Flamingo Championship against Southern on Monday. Coastal Carolina battles Division II Coker on Wednesday. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP women’s college basketball: https://apnews.com/hub/ap-top-25-womens-college-basketball-poll and https://apnews.com/hub/womens-college-basketballIndiana aims to run its winning streak to five games Friday night when Nebraska welcomes the Hoosiers to Lincoln, Neb. Indiana (8-2, 1-0 Big Ten) has lost the past three meetings with Nebraska after winning seven straight. The Hoosiers are led by center Oumar Ballo, a transfer from Arizona who averages 13.2 points and 9.1 rebounds per game, and forward Malik Reneau (team-best 15.5 points and 6.4 rebounds). Reneau, according to Indiana, is one of five major-conference players to average at least 10 points per game with a field goal percentage of at least 60 and 80 percent from the free-throw line. Off Indiana's 82-67 home win over Minnesota on Monday, head coach Mike Woodson said there are things to work on going forward. "When you get a team down 15, 20 points, you got to remember how you got them down and continue to do the same things that got you the lead," said Woodson, "and I don't think we did that coming down the stretch." Nebraska's best win this season was over then-No. 14 Creighton in an in-state battle last month. But the Cornhuskers (6-2, 0-1) haven't played a very difficult schedule, and were blown out 89-52 by current No. 21 Michigan State on the road last weekend. The Spartans became the first team in 25 games to make more than 50 percent of their shots against Nebraska, so improved defense will be key for the Huskers. Nebraska was also outrebounded 48-19. "That hadn't been us all year, and that was the disappointing thing," coach Fred Hoiberg said. "The physicality of the game in this league ... we're going to see it every night. I've been pleased with how they've responded, but we'll see how they step up to the challenge Friday night." If Nebraska can turn things around on offense, it is 38-2 under Hoiberg when scoring at least 80 points, including 4-0 this season. Brice Williams is Nebraska's leading scorer at 17.5 points per game. Connor Essegian adds 13.0 ppg and shoots 42.6 percent from 3-point range. --Field Level Media
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The King is scheduled to attend the show at London’s Royal Albert Hall on Friday which will see Sir Elton John and his husband David Furnish present a musical number from their new show The Devil Wears Prada – based on the 2006 Oscar-nominated film. Cast members Vanessa Williams, who plays Miranda Priestly, and Matt Henry, who stars as art director Nigel, were among those posing on the red carpet ahead of the performance which showcases an original score by Sir Elton. The variety show will also see debuts from British singer Sophie Ellis-Bextor with her hit track Murder On The Dancefloor while Eurovision winner Nemo is also featured on the bill. Also posing on the carpet were US magicians and comedy duo Penn and Teller, whose performance marks their 50th anniversary. Comedy will come from Ted Lasso star Ellie Taylor, writer and comic Scott Bennett, Scottish comedian Larry Dean and political comic Matt Forde – who posed on the red carpet with a crutch after undergoing surgery for cancer on his spine. Among the arrivals was TV presenter Lorraine Kelly, who will make an appearance in this year’s show with her Change And Check Choir led by Wet Wet Wet singer Marti Pellow. The choir, made up of women from across the UK who detected their breast cancer through Kelly’s campaign, will perform Love Is All Around, which is being re-released to raise awareness of breast cancer early detection. It comes hours after Camilla insisted the “show must go on” after pulling out of attending the performance on Friday evening as doctors advised that she should prioritise rest. A Buckingham Palace spokesperson said: “Following a recent chest infection, the Queen continues to experience some lingering post-viral symptoms, as a result of which doctors have advised that, after a busy week of engagements, Her Majesty should prioritise sufficient rest. “With great regret, she has therefore withdrawn from attendance at tonight’s Royal Variety Performance. His Majesty will attend as planned.” A royal source said the Queen was “naturally disappointed to miss the evening’s entertainments and sends her sincere apologies to all those involved, but is a great believer that ‘the show must go on'”. “She hopes to be back to full strength and regular public duties very soon,” the source added. The Royal Variety Performance will air on ITV1, ITVX, STV and STV Player in December. Money raised from the show will go to help people from the world of entertainment in need of care and assistance, with the Royal Variety Charity launching an initiative to help those with mental health issues this year.
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