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Puneri Paltan produced a clinical performance as they beat Bengal Warriorz 51-34 in a one-sided match to move to third place in the Pro Kabaddi League standings in Noida on Sunday. ( More Sports News ) Puneri Paltan showcased their raiding prowess through Mohit Goyat, Akash Shinde and Pankaj Mohit, as they inflicted four ALL OUTs over the course of the match. After an initial blip, Puneri Paltan raiders made a solid start as they took a seven-point lead in the first 10 minutes itself. Most of these points were down to Mohit Goyat and Akash Shinde, as they quickly inflicted ALL OUT on Bengal Warriorz seven minutes into the game. Bengal Warriorz committed a number of errors in the first half, as Puneri Paltan capitalised on them. In defence, Abinesh Nadarajan was the main man for the BC Ramesh-coached side, but Sushil Kambrekar got Abinesh and Sanket Sawant in a two-point raid, keeping his team in the hunt. It was not enough though, with a second ALL OUT inflicted on Bengal Warriorz as the score read 24-11 in favour of Puneri Paltan at the end of the first half. Skipper Pankaj Mohite made an excellent start to the second half to continue the dominance of Puneri Paltan. A Hi-flying jump ended in a Super Raid as Hem Raj, Pranay Rane and Akash Chavhan had to leave the mat. Left-corner defender Mohit inflicted a third ALL OUT on Bengal Warriorz with 15 minutes left in the match, effectively ending any chance of a comeback for Bengal Warriorz.Kagiso Rabada was sold to Gujarat Titans for Rs 10.75 crore in the IPL 2025 mega auction in Jeddah. The bidding war was between Royal Challengers Bengaluru Gujarat Titans till Rs 5 crore. It was then that RCB pulled out and Mumbai Indians entered the action. However, RCB re-entered at Rs 8.50 crore before MI and GT still in the battle. MI bid till Rs 9.25 crore, but it was the GT who won the battle against the other two franchises. The South African pacer had represented Punjab Kings in 2024 and had an average season. He picked 11 wickets in 11 matches. He has 117 wickets in 80 IPL matches. He recently touched 300 Test wickets and at only 29 years, can be a long term prospect for Gujarat Titans after having left Mohammed Shami. He could also be the lethal international pacer that GT lacked in the previous three seasons. 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The Minister of Aviation and Aerospace Development, Festus Keyamo, has defended his decision to approve a private airstrip amid rising concerns and allegations of preferential treatment. Keyamo said this on the ‘This Morning’ programme on Arise News on Sunday. Where he stressed the importance of fairness and adherence to legal processes in granting approvals for private airstrips across Nigeria. “You can’t single out an individual in a country like this when you have given the same right to so many people and say withdraw that particular one. On what basis?” Keyamo asked. “The people have not breached any terms upon which we gave them the license. If you single them out, the constitution says you should not discriminate against any Nigerian. They are following the rules.” Keyamo explained that the approval process for the airstrip was rigorous and took over a year to complete. “It took me one year to approve that airstrip because we went through so many processes. By law, I said the minister would approve. That is what the law says. And it came to me. I looked at all the processes. I approved,” he said. Related News Tinubu arrives Immigration HQ to unveil technology complex Keyamo, FCCPC differ on Air Peace probe Keyamo to inaugurate Abia airport project next week The minister rejected accusations that the approval could be interpreted as favouritism, emphasising that similar permissions have been granted across the country. “Why should I not approve when others have been approved across the country? That is why we must be careful not to see this as an attack on the church. Once they have fulfilled the obligations, why not?” he questioned. Keyamo also addressed security concerns, assuring Nigerians that stringent measures are in place for private airstrips. He noted that no private aircraft can depart directly from an airstrip to an international destination without undergoing thorough checks at a designated airport. “You cannot take off from any private airstrip in Nigeria and fly outside the country. This is not possible. You must first land at an international airport. You will be well-processed and checked before you fly out. If you are flying in, you must first land at an international airport. You will be processed before you fly to your private airstrip,” he explained. Recall that this is following the House of Rep’s instruction to the Ministry of Aviation and Aerospace to stop the issuance of airstrip licenses to private individuals and organisations. They also called for the withdrawal of licenses already granted to Living Faith Church, as well as to other private individuals and organisations, to safeguard national security.
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The Ohio State Buckeyes suffered a shocking upset defeat at the hands of the Michigan Wolverines in the 2024 edition of "The Game," with the final score settling in at 13-10. Ohio State did not play nearly well enough to come out on top in this one, and it led to a lot of fingers being pointed at head coach Ryan Day. While the Buckeyes only scored 10 points in this one, they had countless opportunities to put away the Wolverines throughout this one. Poor coaching marred them throughout, though, and while the players on the field obviously have to deliver, it was tough to overlook Day and the coaching staff's shortcomings in another big game. For one of his former players in Tyreke Johnson, this result wasn't much of a surprise. Johnson took to social media to air out Day in the aftermath of this crushing loss, saying he knew that Day wasn't cut out to be the Buckeyes coach because of what he did during the team's National Championship Game against Alabama back in 2021. "Y’all can say I’m hating or whatever y’all want but I knew coach Day was not the answer when we played in the national championship against Bama and at half time he didn’t say a word to the team just went in the office and started to blame other coaches," Johnson said in a post on X, formerly known as Twitter. Y’all can say I’m hating or whatever y’all want but. I knew coach Day was not the answer when we played in the national championship against Bama and at half time he didn’t say a word to the team just went in the office and started to blame other coaches. Johnson, who currently is a cornerback for the Nebraska Cornhuskers, doesn't paint Day in a very good light, and it's clear he doesn't believe he's cut out to be Ohio State's head coach. While the Buckeyes have been one of the best teams in the nation all season long, Day's inability to win on the biggest stages continues to haunt him. © Adam Cairns/Columbus Dispatch / USA TODAY NETWORK via Imagn Images The Buckeyes season isn't over, but things aren't looking good right now considering how this loss to the Wolverines unfolded. The team will have to turn their attention towards the Penn State Nittany Lions contest with the Maryland Terrapins, as that will determine whether or not they will play in the Big Ten Championship Game. Related: Gus Johnson Facing Extreme Backlash for Commentary During Michigan-Ohio State Brawl
Jeff Bezos Says He Is “Proud” of Decision to End Endorsements at Washington Post, “Very Optimistic” About Second Trump TermWild host the Predators after Spurgeon's 2-goal performance Nashville Predators (7-12-5, in the Central Division) vs. Minnesota Wild (15-4-4, in the Central Division) Saint Paul, Minnesota; Saturday, 8 p.m. EST BETMGM SPORTSBOOK LINE: Wild -153, Predators +128; over/under is 5. Canadian Press Nov 30, 2024 1:12 AM Nov 30, 2024 1:20 AM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Nashville Predators (7-12-5, in the Central Division) vs. Minnesota Wild (15-4-4, in the Central Division) Saint Paul, Minnesota; Saturday, 8 p.m. EST BETMGM SPORTSBOOK LINE: Wild -153, Predators +128; over/under is 5.5 BOTTOM LINE: The Minnesota Wild host the Nashville Predators after Jared Spurgeon's two-goal game against the Chicago Blackhawks in the Wild's 3-2 win. Minnesota is 15-4-4 overall and 3-2-2 against the Central Division. The Wild are 7-1-2 in games they score one or more power-play goals. Nashville has gone 7-12-5 overall with a 4-1-1 record in Central Division games. The Predators are 7-2-0 when scoring at least three goals. The matchup Saturday is the first meeting this season between the two teams. TOP PERFORMERS: Kirill Kaprizov has 14 goals and 22 assists for the Wild. Marco Rossi has four goals and three assists over the past 10 games. Roman Josi has seven goals and 13 assists for the Predators. Steven Stamkos has scored three goals and added two assists over the past 10 games. LAST 10 GAMES: Wild: 6-2-2, averaging 2.7 goals, 4.5 assists, 3.5 penalties and 8.1 penalty minutes while giving up 1.9 goals per game. Predators: 3-3-4, averaging 2.3 goals, 3.1 assists, 3.5 penalties and 7.6 penalty minutes while giving up 2.3 goals per game. INJURIES: Wild: None listed. Predators: None listed. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar . The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Hockey Blues host the Flyers after Holloway's 2-goal game Nov 30, 2024 1:12 AM Islanders take losing streak into matchup with the Sabres Nov 30, 2024 1:12 AM Washington visits New Jersey after shootout win Nov 30, 2024 1:12 AM
US agencies should use advanced technology to identify mysterious drones, Schumer saysBy BIANCA VÁZQUEZ TONESS After weeks of fear and bewilderment about over parts of New York and , U.S. Senator Chuck Schumer is urging the federal government to deploy better drone-tracking technology to identify and ultimately stop the airborne pests. The New York Democrat is calling on the Department of Homeland Security to immediately deploy special technology that identifies and tracks drones back to their landing spots, according to briefings from his office. Schumer’s calls come amid growing public concern that the federal government hasn’t offered clear explanations as to who is operating the drones, and has not stopped them. National security officials have said the drones don’t appear to be a sign of foreign interference. “There’s a lot of us who are pretty frustrated right now,” said Rep. Jim Himes, D-Conn., the top Democrat on the House Intelligence Committee, on Fox News Sunday. “The answer ‘We don’t know’ is not a good enough answer.” President-elect Donald Trump posted on social media last week: “Can this really be happening without our government’s knowledge? I don’t think so. Let the public know, and now. Otherwise, shoot them down.” Certain agencies within the Department of Homeland Security have the power to “incapacitate” drones, U.S. Secretary of Homeland Security Alejandro Mayorkas told ABC’s George Stephanopoulos on Sunday. “But we need those authorities expanded,” he said, without saying exactly how. The drones don’t appear to be linked to foreign governments, Mayorkas said. “We know of no foreign involvement with respect to the sightings in the Northeast. And we are vigilant in investigating this matter,” Mayorkas said. Last year, federal aviation rules began requiring certain drones to broadcast their identities. It’s not clear whether that information has been used to determine who is operating the drones swarming locations in New York and New Jersey. Mayorkas’ office didn’t immediately respond to questions about whether they’ve been able to identify drones using this capability. Schumer is calling for recently declassified radar technology to be used to help determine whether an object is a drone or a bird, identify its electronic registration, and follow it back to its landing place. New York Gov. Kathy Hochul on Sunday said federal officials were sending a drone detection system to the state. “This system will support state and federal law enforcement in their investigations,” Hochul said in a statement. The governor did not immediately provide additional details, including where the system will be deployed. Dozens of mysterious nighttime flights started last month over New Jersey, raising concerns among residents and officials. Part of the worry stems from the flying objects near the Picatinny Arsenal, a U.S. military research and manufacturing facility and over Trump’s golf course in Bedminster. Drones are legal in New Jersey for recreational and commercial use, but they are subject to local and Federal Aviation Administration regulations and flight restrictions. Operators must be FAA certified.Tributes were paid to the former Scottish first minister, who died suddenly in North Macedonia in October at the age of 69. A private family funeral has already taken place, with Saturday’s memorial service in Edinburgh held to celebrate his love of Scotland and his commitment to the cause of independence. But while some 500 people, including family, friends and politicians from across the spectrum attended the service at St Giles’ Cathedral, his successor Nicola Sturgeon was not present. A rift between her and Mr Salmond – who she had previously described as her mentor – developed during her term as SNP leader. Ms Sturgeon attended the funeral of Scottish comedian Janey Godley in Glasgow on Saturday morning. Her successor, Mr Swinney, was met with boos as he arrived at the service – held on St Andrew’s Day – with at least one person in the crowd outside on the Royal Mile shouting “traitor”. Mr Salmond stood down as SNP leader and first minister after the 2014 referendum in which Scots voted to stay part of the UK. He helped found and went on to lead another pro-independence party, Alba, with Kenny MacAskill, a long-time friend who served as justice secretary in Holyrood under Mr Salmond. Mr MacAskill, now the acting Alba leader, told the congregation – which included Mr Salmond’s widow Moira as well as Scottish Labour leader Anas Sarwar, former Labour first minister Henry McLeish and Scottish Conservative leader Russell Findlay – that Mr Salmond had been a “giant of man”. Mr MacAskill, who quit the SNP to join Alba, hailed Mr Salmond as “an inspiration, a political genius” and being “most of all a man who had the cause of independence burned into his heart and seared in his soul”. The cause of independence was Mr Salmond’s “guiding light, his north star”, the former justice secretary said, adding that “he came so close to achieving it”. He added: “Those of us who share his dream must conclude that journey on his behalf. That’s the legacy he’d expect and the duty we owe him.” Recalling Mr Salmond’s words from when he stood down as first minister that “the dream shall never die”, Mr MacAskill concluded his address with the words: “Your dream shall be delivered.” Former Conservative Brexit minister and long-time friend of Mr Salmond, David Davis, gave a reading as did former Scottish government minister SNP MSP Fergus Ewing. Scottish folk singer Dougie MacLean performed his famous song Caledonia, while singer Sheena Wellington led mourners in a rendition of Robert Burns’ classic A Man’s A Man For A’ That. Scottish rock duo the Proclaimers were applauded for their performance of Cap in Hand – a pro-independence song which features the line “I can’t understand why we let someone else rule our land, cap in hand”. Brothers Craig and Charlie Reid said: “We’re going to do this for Alex, with love and respect and eternal gratitude for everything you did for our country.” Christina Hendry described her Uncle Alex as a “political giant, a strong leader, a fearless campaigner” but also remembered his as a “dearly loved husband, brother and uncle”. While she said he had been “the top man in Scotland”, he had “always made time for his family”, recalling how he phoned her brother on his birthday – the day after the Scottish independence referendum in 2014 – to apologise for not posting a card “as he’d been busy”, before telling them he would “resigning in 10 minutes”. She told the congregation: “As his family, we always felt loved no matter how far away he was or the time that passed before we saw him next. “We always knew he was standing up for our country, and for that we were grateful.” Ms Hendry continued: “The world will be a much quieter place without Uncle Alex, for Moira, for the wider family and for Scotland. “Uncle Alex passing means a great loss for many. A loss of Scotland’s voice on the international stage. A loss of integrity in Scottish politics. And a great loss to Scotland’s independence movement. “As a family it is likely a loss we will never get over.” Duncan Hamilton KC, who was an SNP MSP after the first Scottish Parliament elections, but also served as a political adviser and legal counsel to Mr Salmond, said the former first minister had “rightly been hailed as one of the greatest Scottish politicians of this, or any, generation”. He told how Mr Salmond took the SNP from being “a fringe act trying to get onto the main stage” to a party of government. “In Scottish politics, his success was both spectacular and unrivalled,” Mr Hamilton said. “Alex Salmond will forever be a pivotal figure in Scotland’s story. He changed a nation. He inspired a country. “History will certainly remember him as a man of talent, charisma and substance. But also as a political leader of courage, vision and intelligence. “He dared to dream. And so should we.” As the service finished the crowd gathered outside applauded and chanted “Alex, Alex” before singing Flower Of Scotland.
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Police hunt for UnitedHealthcare CEO's masked killer after 'brazen, targeted' attack on NYC street NEW YORK (AP) — UnitedHealthcare’s CEO has been shot and killed in what police say is a “brazen, targeted attack” outside a Manhattan hotel where the health insurer was holding its investor conference. The shooting rattled the city and set off a massive dragnet hours before the annual Rockefeller Center Christmas tree lighting. Police say 50-year-old Brian Thompson was shot around 6:45 a.m. Wednesday as he walked alone to the New York Hilton Midtown from a nearby hotel. New York City Police Commissioner Jessica Tisch says the shooter appeared to be “lying in wait for several minutes” before approaching Thompson from behind and opening fire. Police have not yet established a motive. UnitedHealthcare CEO kept a low public profile. Then he was shot to death in New York NEW YORK (AP) — Brian Thompson led one of the biggest health insurers in the US but was unknown to millions of people his decisions affected. The fatal shooting of UnitedHealthcare's chief executive on a midtown Manhattan sidewalk Wednesday became a mystery that riveted the nation. Police say it was a targeted killing. Thompson was 50. He had worked at the company for 20 years and had run health care giant UnitedHealth Group Inc.'s insurance business since 2021. It provides health coverage for more than 49 million Americans and brought in $281 billion in revenue last year. Thompson's $10.2 million annual compensation made him one of the company’s highest-paid executives. Supreme Court seems likely to uphold Tennessee's ban on medical treatments for transgender minors WASHINGTON (AP) — Hearing a high-profile culture-war clash, the Supreme Court on Wednesday seemed likely to uphold Tennessee’s ban on gender-affirming care for minors. The justices’ decision, not expected for several months, could affect similar laws enacted by another 25 states and a range of other efforts to regulate the lives of transgender people, including which sports competitions they can join and which bathrooms they can use. The case is being weighed by a conservative-dominated court after a presidential election in which Donald Trump and his allies promised to roll back protections for transgender people. The Biden administration’s top Supreme Court lawyer warned a decision favorable to Tennessee also could be used to justify nationwide restrictions on transgender healthcare for minors. Hegseth fights to save Pentagon nomination as sources say Trump considers DeSantis WASHINGTON (AP) — Pete Hegseth, Donald Trump’s Pentagon pick, is fighting to hold on to his Cabinet nomination amid growing questions about his personal conduct as the president-elect’s team considers alternatives, including Florida Gov. Ron DeSantis. But Hegseth says, “We’re not backing down one bit." The Trump transition team is concerned about Hegseth’s path to Senate confirmation and is actively looking at potential replacements, according to a person familiar with the matter. Hegseth is under pressure as senators weigh a series of allegations that have surfaced against him. Beyond DeSantis, there have been discussions about shifting Michael Waltz, who was named by Trump as his national security adviser, to the Defense Department Israeli strikes on a Gaza tent camp kill at least 21 people, hospital says KHAN YOUNIS, Gaza Strip (AP) — A Palestinian health official said Wednesday that at least 21 people were killed in Israeli strikes on a camp housing displaced people in Gaza. The Israeli military said it struck senior Hamas militants. The strikes hit in the Muwasi area, a sprawling coastal camp housing hundreds of thousands of displaced people. It came after Israeli forces struck targets in other areas of Gaza. According to Palestinian medics, strikes in central Gaza killed eight people, including four children. The war in Gaza is nearly 14 months old and showing no end in sight, despite international efforts to revive negotiations toward a ceasefire. South Korean President Yoon's martial law declaration raises questions over his political future SEOUL, South Korea (AP) — President Yoon Suk Yeol’s stunning martial law declaration lasted just hours, but experts say it raised serious questions about his ability to govern for the remaining 2 1/2 years of his term. The opposition-controlled parliament overturned the edict, and his rivals on Wednesday took steps to impeach him. Yoon's move baffled many experts. One analyst called his action “political suicide.” Yoon’s political fate may depend on whether a large number of people in coming days take to the streets to push for his ouster. Yoon hasn't commented on the impeachment bid. But the political instability he unleashed could make it more difficult for his government to nurse a decaying economy. Police say searchers don’t expect to find woman in Pennsylvania sinkhole alive UNITY TOWNSHIP, Pa. (AP) — The search for a woman who is believed to have fallen into a sinkhole in western Pennsylvania has become a recovery effort after two treacherous days of digging through mud and rock produced no signs of life. Pennsylvania State Police spokesperson Trooper Steve Limani said during a news conference Wednesday that authorities no longer believe they will find 64-year-old Elizabeth Pollard alive, but that the search for her remains continues. Limani says crews have seen "no signs of any form of life or anything.” Pollard was last seen alive Monday evening when she went out looking for her cat in the village of Marguerite, about 40 miles east of Pittsburgh. Two students wounded and gunman dead after shooting at Northern California school PALERMO, Calif. (AP) — Sheriff’s officials say two students have been wounded in a shooting at a small religious school in Northern California and the gunman is dead. A Butte County Sheriff’s Office spokesperson says Wednesday the wounded students were taken to hospitals in unknown condition after the shooting at Feather River School of Seventh-Day Adventists in Palermo, north of Sacramento. The spokesperson says the suspect died after apparently shooting himself. A motive is unknown. French lawmakers vote to oust prime minister in the first successful no-confidence vote since 1962 PARIS (AP) — France’s far-right and left-wing lawmakers have joined together to vote on a no-confidence motion prompted by budget disputes that forces Prime Minister Michel Barnier and his Cabinet to resign. The National Assembly approved the motion by 331 votes. A minimum of 288 were needed. President Emmanuel Macron insisted he will serve the rest of his term until 2027. However, he will need to appoint a new prime minister for the second time after July’s legislative elections led to a deeply divided parliament. Macron will address the French on Thursday evening, his office said, without providing details. Barnier is expected to formally resign by then. White House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaign WASHINGTON (AP) — A top White House official says at least eight U.S. telecom firms and dozens of nations have been impacted by a Chinese hacking campaign. Deputy national security adviser Anne Neuberger offered the new details Wednesday about the breadth of the sprawling Chinese hacking campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans. Neuberger divulged the scope of the hack a day after the FBI and the Cybersecurity and Infrastructure Security Agency issued guidance intended to help root out the hackers and prevent similar cyberespionage in the future. White House officials cautioned that a number of telecommunication firms and countries impacted could still grow.PM Modi asks states to provide environment for start-ups to flourishChina will turn Washington's technology weapons on its Asian neighbours in 2025. US curbs on imports of semiconductors and other goods have hobbled advances in artificial intelligence in the world's second-largest economy. The People's Republic is starting to retaliate. Its leverage over corporate giants in Japan and South Korea makes them prime hostage targets. In 2022, outgoing US President Joe Biden introduced sweeping measures to block China's access to cutting-edge chips and chipmaking technology. Since then, Washington has expanded the controls to cover a broader array of equipment and materials, including machines and tools made by Dutch giant ASML and Japan's Tokyo Electron. In December, the Biden administration added more than 100 Chinese entities to its trade restriction list as part of its new package of controls. The tightening restrictions have prompted Beijing to respond. In mid-2023, the government started requiring export licences for gallium, germanium, graphite and antimony – materials vital for making batteries, semiconductors, fibre optics and weapons. But a closer look at the trade flows did not show Chinese authorities systematically denied export licences, according to Cory Combs, a researcher from analysis firm Trivium China. That is about to change. In response to Washington's latest controls, the Chinese government announced an outright ban on some of these materials being exported to the United States – its strongest tit-for-tat measure yet. Further retaliation is likely as China falls further behind in AI. Local technology giants like Tencent and Baidu are running down their stockpiles of now-banned Nvidia chips and will have no choice but to turn to domestic alternatives to train their AI models. But the latest chip designed by local semiconductor darling Huawei, the country's best answer to Nvidia's coveted graphics processing units, is three generations behind the $3.3 trillion US market leader, Bloomberg reported. Against this backdrop, Beijing has been quietly laying the groundwork to weaponise its near monopoly on rare earths and critical minerals. In June, the government unveiled a raft of regulations aimed at protecting the country's rare earth supplies; these rules cover mining, smelting and trading and establish state ownership of rare earths resources. The latest export ban from China's Ministry of Commerce follows an overhaul of existing rules. Whereas past curbs on gallium and germanium have been piecemeal, the new unified regime grants stricter government oversight on technologies and goods that can be used for civilian and military purposes. Businesses selling certain types of graphite, used in electric-vehicle batteries, must first disclose details about their overseas customers and the end use of the materials. Taking a page out of Washington's sanctions playbook, China will also have a "control list" of foreign companies which are subject to extra restrictions and licences. Yet targeting American firms like Micron Technology or Tesla at a time when the struggling Chinese economy needs trading partners, foreign investment and tech know-how could be self-defeating. In 2023, Chinese infrastructure companies were banned from buying certain memory chips from Micron. Even so, a year later, the Idaho-based firm's ties to China have strengthened, with Chief Executive Sanjay Mehrotra meeting with the Minister of Commerce and breaking ground on a new factory in the country in 2024. Meanwhile, carmaker Tesla's China sales are on track to grow by 14 percent to $23 billion in 2025, per Visible Alpha forecasts. Instead, Beijing holds far more leverage over US allies in Asia. A Japanese government white paper found that the country relies on China for nearly a third of its imports, compared to 13 percent for the United States. These goods range from machinery to organic chemicals to electrical equipment. And despite official efforts to diversify supply chains away from China, a separate study found South Korea's dependence on the People's Republic for five out of six raw materials necessary for chipmaking actually increased in 2023. That puts Tokyo and Seoul's corporate champions in a vulnerable position. Toyota has privately voiced concerns that China would cut off the $220 billion carmaker's access to critical minerals, Bloomberg reported in September, citing sources. In addition to supply chains, it also has factories on the mainland. South Korea's memory chip giants SK Hynix and Samsung Electronics, as well as battery specialists LG Chem and SK On, are in a similar boat. Just a threat of export controls might be sufficient for those countries to think twice about joining the tech war against China. Beijing has plenty of weapons to fight back. In 2025 it will train them on US allies. China will turn Washington's technology weapons on its Asian neighbours in 2025. US curbs on imports of semiconductors and other goods have hobbled advances in artificial intelligence in the world's second-largest economy. The People's Republic is starting to retaliate. Its leverage over corporate giants in Japan and South Korea makes them prime hostage targets. In 2022, outgoing US President Joe Biden introduced sweeping measures to block China's access to cutting-edge chips and chipmaking technology. Since then, Washington has expanded the controls to cover a broader array of equipment and materials, including machines and tools made by Dutch giant ASML and Japan's Tokyo Electron. In December, the Biden administration added more than 100 Chinese entities to its trade restriction list as part of its new package of controls. The tightening restrictions have prompted Beijing to respond. In mid-2023, the government started requiring export licences for gallium, germanium, graphite and antimony – materials vital for making batteries, semiconductors, fibre optics and weapons. But a closer look at the trade flows did not show Chinese authorities systematically denied export licences, according to Cory Combs, a researcher from analysis firm Trivium China. That is about to change. In response to Washington's latest controls, the Chinese government announced an outright ban on some of these materials being exported to the United States – its strongest tit-for-tat measure yet. Further retaliation is likely as China falls further behind in AI. Local technology giants like Tencent and Baidu are running down their stockpiles of now-banned Nvidia chips and will have no choice but to turn to domestic alternatives to train their AI models. But the latest chip designed by local semiconductor darling Huawei, the country's best answer to Nvidia's coveted graphics processing units, is three generations behind the $3.3 trillion US market leader, Bloomberg reported. Against this backdrop, Beijing has been quietly laying the groundwork to weaponise its near monopoly on rare earths and critical minerals. In June, the government unveiled a raft of regulations aimed at protecting the country's rare earth supplies; these rules cover mining, smelting and trading and establish state ownership of rare earths resources. The latest export ban from China's Ministry of Commerce follows an overhaul of existing rules. Whereas past curbs on gallium and germanium have been piecemeal, the new unified regime grants stricter government oversight on technologies and goods that can be used for civilian and military purposes. Businesses selling certain types of graphite, used in electric-vehicle batteries, must first disclose details about their overseas customers and the end use of the materials. Taking a page out of Washington's sanctions playbook, China will also have a "control list" of foreign companies which are subject to extra restrictions and licences. Yet targeting American firms like Micron Technology or Tesla at a time when the struggling Chinese economy needs trading partners, foreign investment and tech know-how could be self-defeating. In 2023, Chinese infrastructure companies were banned from buying certain memory chips from Micron. Even so, a year later, the Idaho-based firm's ties to China have strengthened, with Chief Executive Sanjay Mehrotra meeting with the Minister of Commerce and breaking ground on a new factory in the country in 2024. Meanwhile, carmaker Tesla's China sales are on track to grow by 14 percent to $23 billion in 2025, per Visible Alpha forecasts. Instead, Beijing holds far more leverage over US allies in Asia. A Japanese government white paper found that the country relies on China for nearly a third of its imports, compared to 13 percent for the United States. These goods range from machinery to organic chemicals to electrical equipment. And despite official efforts to diversify supply chains away from China, a separate study found South Korea's dependence on the People's Republic for five out of six raw materials necessary for chipmaking actually increased in 2023. That puts Tokyo and Seoul's corporate champions in a vulnerable position. Toyota has privately voiced concerns that China would cut off the $220 billion carmaker's access to critical minerals, Bloomberg reported in September, citing sources. In addition to supply chains, it also has factories on the mainland. South Korea's memory chip giants SK Hynix and Samsung Electronics, as well as battery specialists LG Chem and SK On, are in a similar boat. Just a threat of export controls might be sufficient for those countries to think twice about joining the tech war against China. Beijing has plenty of weapons to fight back. In 2025 it will train them on US allies.Stocks gain, dollar steady; Wall Street shrugs off global political turmoil
PITTSBURGH , Dec. 4, 2024 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB ) ("FNB" or the "Company") today announced the pricing of its offering of $500 million aggregate principal amount of its fixed rate / floating rate senior notes due 2030 (the "Notes"). The Notes will bear interest at 5.722% per annum, payable semi-annually in arrears on June 11 and December 11 , of each year, commencing on June 11, 2025 , and ending on December 11, 2029 . Starting on December 11, 2029 , the Notes will bear interest at a floating rate per annum equal to Compounded SOFR plus 1.93%, payable quarterly in arrears on March 11, 2030 , June 11, 2030 , September 11, 2030 and on the maturity date. The offering is expected to close on December 11, 2024 , subject to customary closing conditions. The Company expects to use the net proceeds from the offering for general corporate purposes, which may include investments at the holding company level, capital to support the growth of the Company's banking subsidiary and refinancing of outstanding indebtedness. Morgan Stanley & Co. LLC, BofA Securities, Inc., and WauBank Securities LLC are serving as joint book-running managers, and Bancroft Capital, LLC, BMO Capital Markets Corp., Goldman Sachs & Co. LLC, and Piper Sandler & Co. are serving as co-managers. FNB has filed a shelf registration statement (including a base prospectus) and a prospectus supplement with the U.S. Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before investing, prospective investors should read the registration statement (including the base prospectus), the prospectus supplement and other documents FNB has filed and will file with the SEC that are incorporated by reference into the registration statement and the prospectus supplement for more complete information about FNB and the offering, including the risks associated with the securities and the offering. This announcement is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of any securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation. The offering will be made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained free of charge from the SEC's website at: www.sec.gov . Alternatively, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and accompanying base prospectus if you request it by contacting: Morgan Stanley & Co. LLC Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, email: [email protected] , or BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: [email protected] . About F.N.B. Corporation F.N.B. Corporation (NYSE: FNB ), headquartered in Pittsburgh, Pennsylvania , is a diversified financial services company operating in seven states and the District of Columbia . FNB's market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania ; Baltimore, Maryland ; Cleveland, Ohio ; Washington, D.C. ; Charlotte , Raleigh , Durham and the Piedmont Triad ( Winston-Salem , Greensboro and High Point ) in North Carolina ; and Charleston, South Carolina . The Company has total assets of $48 billion and approximately 350 banking offices throughout Pennsylvania , Ohio , Maryland , West Virginia , North Carolina , South Carolina , Washington, D.C. and Virginia . FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania , founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance. The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com . Information on FNB's website does not constitute part of, and is not incorporated by reference in, the prospectus or prospectus supplement. SOURCE F.N.B. Corporation