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China and Mexico lashed out Tuesday after Donald Trump threatened to begin his presidency with an immediate trade war against the top three US economic partners. Trump made his threat in social media posts, announcing huge import tariffs against neighbors Canada and Mexico and also rival China if they don’t stop illegal immigration and drug smuggling into the United States. China responded that “no one will win a trade war,” while Mexican President Claudia Sheinbaum warned that “for every tariff, there will be a response in kind.” A Canadian government source said Prime Minister Justin Trudeau called Trump and had a “productive” discussion, without giving further detail. Such tariffs would disrupt the global economy, deepen already fierce tensions with China and upend relations with the United States’ two huge neighbors. Nervous stock markets saw “volatile trading conditions” as they digested the news, said Fawad Razaqzada, analyst at City Index. On his Truth platform, Trump said late Monday that he would enact the tariffs the moment he takes office on January 20 if his — vaguely worded — demands were not met. The posts signal Trump’s intention to return to the governing style of his first presidency, when he regularly shocked Washington and US partners with abrupt, major policy shifts on social media. They also confirmed that Trump is serious about his major campaign promise, while running against Democrat Kamala Harris, to use US economic muscle as leverage on issues having little to do with trade — namely his claim that the United States is under siege by foreign crime and dangerous migrants. “I will sign all necessary documents to charge Mexico and Canada a 25 percent tariff on ALL products coming into the United States,” Trump posted. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” he said. “We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!” In another post, Trump said he would be slapping China with a 10 percent tariff, “above any additional Tariffs,” because the world’s second biggest economy was failing to execute fentanyl smugglers. Liu Pengyu, a spokesman for China’s embassy in the United States, told AFP that “China believes that China-US economic and trade cooperation is mutually beneficial in nature.” Mexico’s Sheinbaum fired back at Trump, saying his tariffs diplomacy was “not acceptable” and based on erroneous claims. “It is not with threats or tariffs that the migration phenomenon will be stopped, nor the consumption of drugs in the United States,” she said. Sheinbaum pointed out that the Mexican narcotics industry largely exists to serve demand in the United States. “Seventy percent of the illegal weapons seized from criminals in Mexico come from your country,” she said. “Tragically, it is in our country that lives are lost to the violence resulting from meeting the drug demand in yours.” – Bluster or serious? – William Reinsch, senior adviser at the Center for Strategic and International Studies, said Trump’s Truth Social threats may be bluster — a strategy of “threaten, and then negotiate.” However, Trump’s first term in the White House was marked by an aggressive and protectionist trade agenda that also targeted China, Mexico and Canada, as well as Europe. While in the White House, Trump launched an all-out trade war with China, imposing significant tariffs on hundreds of billions of dollars of Chinese goods. China responded with retaliatory tariffs on American products, particularly affecting US farmers. Economists say tariffs can hurt US growth and push inflation, since they are primarily paid by importers bringing the goods into the United States, who often pass those costs on to consumers. Trump has said he will put his commerce secretary designate Howard Lutnick, a China hawk, in charge of trade policy. Lutnick has expressed support for a tariff level of 60 percent on Chinese goods alongside a 10 percent tariff on all other imports. AFPSanta Cruz County Bank Hires Alison Voorhees as Senior Vice President, Director of Marketing
Faruqi & Faruqi Reminds PACS Group Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of January 13, 2025 – PACSLiverpool boss Arne Slot talks up ‘special player’ Mohamed SalahAMESBURY, Mass. , Dec. 2, 2024 /PRNewswire/ -- Provident Bancorp, Inc. (the "Company") (Nasdaq:PVBC), the holding company for BankProv (the "Bank"), today announced that its Board of Directors has adopted a new stock repurchase program. Under the repurchase program, the Company may repurchase up to 883,366 shares of its common stock, or approximately five percent of the current outstanding shares. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Buccaneers looking to beat NFC South-rival Panthers and bolster hopes for a playoff berth
NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of those who acquired Celsius Holdings, Inc. (“Celsius” or the “Company”) (NASDAQ: CELH ) securities during the period of February 29, 2024, to September 4, 2024, inclusive (“the Class Period”). Investors have until January 21, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit. [ Click here to learn more about the class action ] On May 27, 2024, the price of Celsius stock declined materially as analysts and investors digested some of the latest retail store trends reported by Nielsen, a global data and analytics company. Morgan Stanley noted that Celsius’ sales growth slowed sequentially in weekly retail data – slowing to 39% year-over-year in the week ended May 18, 2024, down from 50% in the week ended May 4, 2024. Morgan Stanley warned that Celsius faced difficult sales comparisons over the next several quarters as it rolled over the anniversary of its Distribution Agreement with PepsiCo, Inc. (“Pepsi”). Similarly, Stifel warned that sales could be dramatically diminished as Pepsi reduced the amount of Celsius inventory it held. The price of Celsius shares declined by $12.23 per share, or approximately 13%, from $95.15 on May 24, 2024, to close at $82.92 on May 28, 2024. Then, on September 4, 2024, Celsius’ CEO, John Fieldly presented at the Barclays 17 th Annual Global Consumer Staples Conference. During the conference, Fieldly discussed the Company’s Distribution Agreement with Pepsi, and revealed that Celsius’ sales to Pepsi had decreased by “roughly around $100 million to $120 million ... from what Pepsi ordered last quarter.” Fieldly added Celsius was “still seeing these inventory levels being reduced.” Additionally, it was noted that Celsius’ prior sales to Pepsi far outstripped market demand for Celsius products, and Pepsi was drawing down excess inventory from its warehouses. On this news, the price of Celsius shares declined by $4.25 per share, or approximately 12%, from $36.64 on September 3, 2024, to close at $32.39 on September 4, 2024. The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Celsius materially oversold inventory to Pepsi far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (2) as Pepsi drew down significant amounts of inventory overstock, Celsius sales would materially decline in future periods, hurting Celsius financial performance and outlook; (3) Celsius’ sales rate to Pepsi was unsustainable and created a misleading impression of Celsius financial performance and outlook; and (4) as a result, Celsius business metrics and financial prospects were not as strong as indicated in defendants Class Period statements. If you purchased or otherwise acquired Celsius securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com , or by filling out this CONTACT FORM , to discuss your rights or interests with respect to these matters without any cost to you. Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website . This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contacts Kirby McInerney LLP Thomas W. Elrod, Esq. 212-699-1180 https://www.kmllp.com investigations@kmllp.comSocial Media and Elections: Lessons from Hyogo / Echo Chambers, Confirmation Bias Led to Threats Against Hyogo PoliticiansBISMARCK, N.D.--(BUSINESS WIRE)--Nov 26, 2024-- Knife River Corporation (NYSE: KNF) announced today that Glenn R. Pladsen has been named Vice President and Chief Excellence Officer, tasked with leading core elements of the company’s “Competitive EDGE” strategy for long-term, profitable growth. The position takes effect Jan. 1, 2025. “EDGE” stands for EBITDA Margin Improvement, Discipline, Growth and Excellence. The “Excellence” pillar of EDGE helps support each of the other key initiatives. In his current role as vice president of support services, Pladsen has been directly involved in launching the company’s Process Improvement Teams (PIT Crews), the Knife River Training Center and other strategic programs aimed at building a strong team and delivering profitable results. His role is being expanded to help the company achieve industry-leading safety performance and excellence across its commercial and operational initiatives. “We have seen significant early success with our PIT Crews and our training and development efforts, and we believe there are considerable opportunities to build on this momentum,” said Knife River President and CEO Brian Gray. “This is an exciting time at Knife River. We’re focused on continued growth and success. Glenn is well-respected across our organization and is highly skilled at developing and standardizing best practices for process improvements. There are multiple paths to achieving our strategic goals, and on each of those paths we are focused on excellence and continuous improvement.” Pladsen joined Knife River in 2007. In addition to his previous role as vice president of support services, he has led the company’s capital budgeting, safety, environmental and information technology processes. He has a degree in mechanical engineering from North Dakota State University. “We believe Glenn’s combination of deep institutional knowledge and his proven ability to help us innovate will allow us to more quickly and consistently target areas where we can improve our processes,” Gray said. “Whether it is commercial excellence, operational excellence or safety excellence, adding this position to our senior management team puts an emphasis on our drive and determination to reach our goals – for our team members and for our shareholders.” About Knife River Knife River Corporation, a member of the S&P MidCap 400 index, mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, asphalt and other value-added products. It also distributes cement and asphalt oil. It performs integrated contracting services. For more information about Knife River, visit www.kniferiver.com . Forward-Looking Statement The information in this news release highlights the key growth strategies, projections and certain assumptions for the company and its subsidiaries. Many of these highlighted statements and other statements not historical in nature are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that its expectations are expressed in good faith and based on reasonable assumptions, there is no assurance the company’s projections or estimates for growth, shareholder value creation, long-term goals or other proposed strategies will be achieved. Please refer to assumptions contained in this news release, as well as the various important factors listed in Part I, Item 1A - Risk Factors in the company's 2023 Form 10-K and subsequent filings with the Securities and Exchange Commission. Changes in such assumptions and factors could cause actual future results to differ materially from those expressed in the forward-looking statements. All forward-looking statements in this news release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, Knife River does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com : https://www.businesswire.com/news/home/20241126592087/en/ CONTACT: Media Contact: Tony Spilde, Senior Director of Communications, 541-693-5949Investor Contact: Zane Karimi, Director of Investor Relations, 503-944-3508 KEYWORD: UNITED STATES NORTH AMERICA NORTH DAKOTA INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY URBAN PLANNING REIT LANDSCAPE INTERIOR DESIGN BUILDING SYSTEMS ARCHITECTURE OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE SOURCE: Knife River Corporation Copyright Business Wire 2024. PUB: 11/26/2024 04:30 PM/DISC: 11/26/2024 04:33 PM http://www.businesswire.com/news/home/20241126592087/en
After-hours movers: HP Inc., Dell Technologies, Workday and moreWhite House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaign
