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After withdrawing his nomination , former Rep. Matt Gaetz will not be President-elect Donald Trump's attorney general. For some, including fellow Republicans, this may not have been such a shock, considering he was a controversial pick from the beginning due to sexual misconduct allegations . Gaetz, who represented Florida's 1st congressional district from January 2017 until his resignation in November 2024, announced his withdrawal on Thursday. "It is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition," Gaetz wrote on Thursday in a post on X, formerly Twitter. "There is no time to waste on a needlessly protracted Washington scuffle, thus I'll be withdrawing my name from consideration to serve as Attorney General." Trump commented on Gaetz's withdrawal on Truth Social , saying his fellow Republican "was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect." Trump's nomination of Gaetz came as the House Ethics Committee, a bipartisan panel equally divided between Democrats and Republicans, was concluding its three-year investigation into the former congressman concerning allegations of sexual misconduct with a 17-year-girl, illegal drug use and the acceptance of "improper gifts." Gaetz resigned before the committee announced the results of its investigation, and it is unclear if the group's findings will ever be released. They are scheduled to reconvene on Dec. 5 to discuss the matter further. Here's what to know about Gaetz and why many saw him as a questionable pick for attorney general. Who is Matt Gaetz? Gaetz grew up in Hollywood, Florida, and was introduced to politics by his father Don Gaetz, a businessman and current member of the Florida State Senate. Matt Gaetz would go on to serve in the Florida House of Representatives from 2010 until 2016, where he became nationally recognized for defending the state's "stand-your-ground law." The 42-year-old then got elected to the U.S. House of Representatives in 2016 and was re-elected in 2018, 2020, 2022, and 2024. In 2021, the Justice Department – which Gaetz would have led if he became attorney general – was investigating Gaetz for child sex trafficking and the statutory rape of a 17-year-old girl who the former congressman allegedly paid to travel across state lines for sexual favors. The DOJ ultimately dropped the probe into Gaetz and did not file any charges against him. Although the DOJ stopped its investigation, the House Ethics Committee continued theirs up until Gaetz's resignation this year. Why were Republicans skeptical about Gaetz's nomination? Despite the GOP controlling the U.S. Senate 53-47 next year, Gaetz's withdrawal signals there may not have been enough Republicans willing to support Trump's controversial nominee. Republican senators, including Lisa Murkowski (R-Alaska) and Susan Collins (R-Maine), questioned Gaetz's selection before his confirmation hearing. Murkowski called Trump's choice not "a serious nomination," while Collins said she was "shocked" to learn about Gaetz's selection and indicated that "there will be a lot of questions raised at his hearing." While speaking with CNN on Monday, Texas Sen. John Cornyn said, "Whether we get the ethics report or not, the facts are going to come out one way or the other, and I would think it would be in everybody’s best interest, including the president’s, not to be surprised by some information that might come out during the confirmation hearing and the background check." "So we're going to do our job and under the Constitution and in the process, I believe, provide the president some assurance that he knows exactly what the facts are about each of his nominees." What is next for Matt Gaetz? It is unclear whether Gaetz, who was reelected this year, will reclaim his seat in the House come January, which is when his next term was set to begin. The release of the House Ethics Committee's report on Gaetz remains uncertain, and the former congressman's political future could hang in the balance depending on the group's findings. Gaetz could also face further legal issues, as a Florida lawyer who represented two women in the House Ethics Committee investigation into the former congressman accused the politician of paying them for sex . One of the women said she witnessed Gaetz having sex with a 17-year-old, according to reports from the Washington Post and ABC News , both of which spoke with attorney Joel Leppard, who represented the two women. On Monday, Alex Pfeiffer, a spokesperson for Trump's transition, called the allegations against Gaetz a "baseless" attempt to derail the president-elect's upcoming administration. "The Biden Justice Department investigated Gaetz for years and cleared him of wrongdoing," Pfeiffer wrote in a statement obtained by USA TODAY. "Matt Gaetz will be the next Attorney General. He’s the right man for the job and will end the weaponization of our justice system." Contributing: Aysha Bagchi & Riley Beggin/ USA TODAYLabour Minister and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma Top ministers yesterday outlined the Government’s progress in economic stability and debt restructuring plans and its proposed relief measures for the public. Labour Minister and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando and Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma at a press briefing held at the Presidential Media Centre (PMC), explained on efforts taken to stabilise the economy and initiatives way forward. In terms of economic stabilisation, Prof. Fernando stressed it is key to take the country out of the abyss created by past regimes. “At the time the Government assumed office those who are responsible for the crisis had unilaterally suspended external debt servicing in April 2022, entered into IMF program for Extended Fund Facility (EFF) of approximately $ 3 billion over a period of four years to be received in eight instalments, and paddled through the IMF program and debt restructuring process connected to in in line with debt sustainability analysis connected to it. The delayed and complex nature of the debt restructuring process incurred additional costs to the country and created additional burdens on the people. However after, considering both pros and cons of the context prevailed at that time in terms of social, political and economic perspective, the Government proceeded with the options in the best interest of the people of the country,” he said. He noted it was possible to reach the staff-level agreement of the third review on 26 November 2024, in line with the program parameters, and Government revenue measures with appropriate engagement, and timely facilitation. In the lead-up to the board approval from the IMF, the Government is engaging with necessary stakeholders to obtain the next tranche of the EFF. Regarding debt restructuring Prof. Fernando stated that it consists of both domestic and external restructuring. Domestic debt restructuring was completed in July 2023. External restructuring excludes multilateral creditors on various grounds and arguments. The rest consists of official bilateral debt and private ISB holders. He said the bilateral debt is dealt with the Official Creditor Committee (OCC) co-chaired by France, India and Japan representing 17 countries, China Exim Bank, China Development bank, other official creditors (Kuwait, Saudi Arabia, Iran and Pakistan) and other commercial creditors. “OCC had agreed to the terms and conditions in June 2024 and the loans with China Exim Bank had already been restructured in October 2023 within the agreed framework, ensuring comparability of treatment (CoT). Except the other official creditors (Kuwait, Saudi Arabia, Iran and Pakistan) accounting roughly $ 300 million representing about 1% total external debt subject restructuring , all other bilateral creditors have already agreed for restructuring within the agreed framework,” he explained. The Minister also noted that much delayed ISB restructuring had passed several stages of negotiations with agreements, disagreements, changes to proposals, adjustments in line with DSA and IMF consents, and had finally agreed in principle (AIP) on 19 September 2024 just two days prior to the presidential election. Ad Hoc Group (AHG) and Local Banking Consortium represent ISBs which account for $ 14.2 billion including a past due interest of $ 1.7 billion. “By prioritising and facilitating actions in a timely manner, the new Government has demonstrated a strong political commitment to steering the country toward economic stability. These efforts toward financial stability have been independently acknowledged by third parties, including rating agencies which have upgraded the ratings by several notches, which was only possible due to the correct prioritisation and implementation of economic stabilisation measures. Hence, the Government continued with the restructuring process and facilitated it to ensure the successful completion of the issuance of new bonds for the exchange of existing ones on 20 December 2024 in order to achieve the critical objective of stabilising the economy in pursue of navigating the country with the growth and development trajectory towards a thriving nation and beautiful life,” Prof. Fernando explained. In terms of the SME sector facilitation, Dr. Suriyapperuma elaborated on extending Parate law suspension. He said instead of merely postponing the Parate execution date, the Government engaged with stakeholder groups to ensure acceptable solutions were found for this long-standing issue. As a result, the Parate execution has now been extended until 31 March 2025. “The relief for businesses is not only in the form of an extension of time. Based on data provided by the Central Bank, 99% of borrowers with outstanding capital of less than Rs. 25 million in restructured loans have been granted a 12-month extension to renegotiate with banks and agree on a settlement path. Borrowers with debts between Rs. 25 and 50 million have been granted a nine-month extension, while all other borrowers are entitled to a six-month extension. This relief package, proposed by the Government and to be implemented through the Central Bank, also includes several other important measures, such as easing the credit rating status, extending the repayment period, offering low interest rates for restructured debt, and providing a transparent mechanism to resolve valuation disputes,” he explained. Dr. Suriyapperuma said the package aims to ensure that the SME sector can actively contribute to the economy. In terms of school stationary assistance for children particularly for Aswesuma recipient families, he said Rs. 6,000 per child has been allocated to purchase essential school books and stationery for the upcoming school term to ease the burden on parents from vulnerable groups in society. He also said children from families who are not currently receiving Aswesuma, but are facing economic hardship will also be provided with this benefit, based on recommendations from the Ministry of Education. “It is expected that the process will be finalised soon, and the disbursement scheme will start within a few days, ensuring that all deserving children facing economic hardship receive assistance,” Dr. Suriyapperuma assured.
By Ja'han Jones Donald Trump’s vow to round up millions of immigrants and deport them in the largest deportation effort in U.S. history has industry groups that rely on immigrants spooked. It’s no secret that such action — unrealistic as it may seem to some — poses a threat to the economy as we know it. Economic and labor experts warned about the destructive potential of Trump’s deportation obsession in the lead-up to Election Day. But now that his return to the White House is certain, the farm and construction industries in particular are sounding the alarm about the devastation their sectors could see if Trump follows through. According to Reuters : U.S. farm industry groups want President-elect Donald Trump to spare their sector from his promise of mass deportations, which could upend a food supply chain heavily dependent on immigrants in the United States illegally. So far Trump officials have not committed to any exemptions, according to interviews with farm and worker groups and Trump’s incoming “border czar” Tom Homan. Nearly half of the nation’s approximately 2 million farm workers lack legal status, according to the departments of Labor and Agriculture, as well as many dairy and meatpacking workers. Reuters noted that some Republicans are hoping Trump spares undocumented farmworkers from deportation, as he vowed during his first presidency (though, for the record, he didn’t exactly leave farmworkers untouched ). There seems to be palpable worry — even among MAGA faithful — that Trump is just as cravenly opposed to immigrants as he comports himself to be . NPR published a similar story about the Texas construction industry, which reportedly is fretting over what Trump’s deportation promises could mean. According to NPR : Clear signals President-elect Donald Trump plans to make good on his campaign pledge to deport millions of undocumented immigrants in his second term has sparked concerns among some in Texas’ business and economic sectors who say mass deportations could upend some of the state’s major industries that rely on undocumented labor, chief among them the booming construction industry. NPR cites two CEOs who say the deportation plans are impractical and would stymie the building of schools and homes, along with highways and other crucial infrastructure. Coincidentally, Trump’s campaign was built around the notion that booting immigrants from the country would resolve housing supply issues and school overcrowding , while opening up jobs that could easily be taken by American workers. With Trump’s return to the White House less than two months away, experts who know better are warning how flawed that logic truly is. Ja'han Jones is The ReidOut Blog writer. He's a futurist and multimedia producer focused on culture and politics. His previous projects include "Black Hair Defined" and the "Black Obituary Project."Jennison Associates LLC purchased a new stake in shares of Glaukos Co. ( NYSE:GKOS – Free Report ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,080 shares of the medical instruments supplier’s stock, valued at approximately $792,000. Other hedge funds have also modified their holdings of the company. Values First Advisors Inc. bought a new stake in shares of Glaukos during the 3rd quarter valued at $25,000. GAMMA Investing LLC raised its holdings in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after acquiring an additional 486 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Glaukos in the second quarter valued at about $187,000. KBC Group NV boosted its stake in shares of Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after acquiring an additional 201 shares during the period. Finally, Brighton Jones LLC purchased a new stake in shares of Glaukos during the second quarter worth about $208,000. 99.04% of the stock is currently owned by institutional investors. Glaukos Trading Up 2.3 % Shares of GKOS stock opened at $144.00 on Friday. The company has a market cap of $7.94 billion, a PE ratio of -47.68 and a beta of 1.02. Glaukos Co. has a 1 year low of $59.22 and a 1 year high of $146.09. The stock’s 50 day simple moving average is $132.40 and its two-hundred day simple moving average is $123.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. Analyst Upgrades and Downgrades A number of research analysts recently commented on GKOS shares. Stifel Nicolaus boosted their price target on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler set a $140.00 price target on shares of Glaukos in a research note on Thursday, October 17th. Finally, BTIG Research increased their price objective on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.55. View Our Latest Research Report on Glaukos Insider Activity at Glaukos In related news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website . Also, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here . 6.40% of the stock is currently owned by insiders. About Glaukos ( Free Report ) Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma. Read More Want to see what other hedge funds are holding GKOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glaukos Co. ( NYSE:GKOS – Free Report ). 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