Stock market today: Wall Street hits more records following a just-right jobs report
Three US citizens released from prison in China
Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 Fort Lauderdale, FL, Dec. 04, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced the closing on December 4, 2024 of its offering of 0.00% convertible senior notes due 2031 (the “notes”). The aggregate principal amount of the notes sold in the offering was $850 million. MARA also granted the initial purchasers an option to purchase an additional $150 million aggregate principal amount of the notes within a 13-day period beginning on, and including, the date on which the notes were first issued. The notes were sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The net proceeds from the sale of the notes were approximately $835.1 million, after deducting the initial purchasers’ discounts and commissions but before estimated offering expenses payable by MARA. MARA expects to use approximately $48 million of the net proceeds from the sale of the notes to repurchase approximately $51 million in aggregate principal amount of its existing convertible notes due 2026 (the “existing 2026 convertible notes”) in privately negotiated transactions with the remainder of the net proceeds to be used to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations. The notes are unsecured, senior obligations of MARA. The notes will not bear regular interest and the principal amount of the notes will not accrete. MARA may pay special interest, if any, at its election as the sole remedy for failure to comply with its reporting obligations and under certain other circumstances, each pursuant to the indenture. Special interest, if any, on the notes will be payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2025 (if and to the extent that special interest is then payable on the notes). The notes will mature on June 1, 2031, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after June 5, 2029, MARA may redeem for cash all or any portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of MARA’s common stock has been at least 130% of the conversion price then in effect for a specified period of time ending on, and including, the trading day immediately before the date MARA provides the notice of redemption. If MARA redeems fewer than all the outstanding notes, at least $75 million aggregate principal amount of notes must be outstanding and not subject to redemption as of the relevant redemption notice date. Holders of notes may require MARA to repurchase for cash all or any portion of their notes on June 4, 2027 and on June 4, 2029 or upon the occurrence of certain events that constitute a fundamental change under the indenture governing the notes at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the date of repurchase. In connection with certain corporate events or if MARA calls any note for redemption, it will, under certain circumstances, be required to increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or notice of redemption. The notes are convertible into cash, shares of MARA’s common stock, or a combination of cash and shares of MARA’s common stock, at MARA’s election. Prior to March 1, 2031, the notes are convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The conversion rate for the notes is initially 28.9159 shares of MARA’s common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $34.5830 per share. The initial conversion price of the notes represents a premium of approximately 40.0% over the U.S. composite volume weighted average price of MARA’s common stock from 2:00 p.m. through 4:00 p.m. Eastern Daylight Time on Monday, December 2, 2024, which was $24.7022. The conversion rate is subject to adjustment upon the occurrence of certain events. In connection with any repurchase of the existing 2026 convertible notes, MARA expects that holders of the existing 2026 convertible notes who agree to have their notes repurchased and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying MARA’s common stock and/or entering into or unwinding various derivative transactions with respect to MARA’s common stock. The amount of MARA’s common stock to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historic average daily trading volume of MARA’s common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of MARA’s common stock, including concurrently with the pricing of the notes, resulting in a higher effective conversion price of the notes. MARA cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or MARA’s common stock. The notes were sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of MARA’s common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The offering of the notes was made only by means of a private offering memorandum. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the notes, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction. Nothing in this press release shall be deemed an offer to purchase MARA’s existing 2026 convertible notes. About MARA MARA (NASDAQ:MARA) is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to MARA’s use of the net proceeds of the offering. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the “Risk Factors” section of MARA’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 28, 2024, as amended on May 24, 2024, the “Risk Factors” section of MARA’s Quarterly Report on Form 10-Q filed with the SEC on August 1, 2024, the “Risk Factors” section of MARA’s Quarterly Report on Form 10-Q filed with the SEC on November 12, 2024 and the risks described in other filings that MARA may make from time to time with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and MARA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. MARA Company Contact: Telephone: 800-804-1690 Email: ir@mara.comLess than a month after winning the World Series, the Los Angeles Dodgers are spending big again to add one of baseball's best pitchers to their star-studded roster. Blake Snell and the Dodgers agreed to a $182 million, five-year contract, according to a person with direct knowledge of the negotiations. The person spoke to The Associated Press on condition of anonymity Tuesday night because the deal is subject to a successful physical. The two-time Cy Young Award winner broke the news personally by posting a photo of himself on social media in a Dodgers uniform — No. 7. Snell would join two-way superstar Shohei Ohtani and fellow Japanese right-hander Yoshinobu Yamamoto atop Los Angeles' rotation, giving the Dodgers the first mega deal of this offseason following Ohtani's $700 million, 10-year contract and Yamamoto's $325 million, 12-year deal last winter. Ohtani didn't pitch this year while recovering from right elbow surgery but is expected back on the mound in 2025. He won his third MVP award — first in the National League — following a huge season at the plate exclusively as a designated hitter. Yamamoto went 7-2 with a 3.00 ERA in 18 starts as a rookie, then won twice in four October outings. Down to three healthy starting pitchers during the postseason, Los Angeles overcame a string of injuries to its projected rotation in winning the franchise's second World Series title in five years. Right-handers Jack Flaherty and Walker Buehler then became free agents this fall, creating more voids on the staff. But the addition of Snell would fill a large one at the top with a legitimate ace. Snell's $36.4 million average salary would rank as the fifth-highest among active deals next year behind Ohtani ($70 million), Philadelphia pitcher Zack Wheeler ($42 million), New York Yankees outfielder Aaron Judge ($40 million) and Texas pitcher Jacob deGrom ($37 million). Among expired contracts, it also was exceeded by pitchers Max Scherzer and Justin Verlander (both $43.33 million) under deals they agreed to with the New York Mets. ESPN first reported the details of Snell's contract. Earlier this month, Snell opted out of his deal with San Francisco to become a free agent for the second consecutive offseason after he was slowed by injuries during his lone year with the Giants. The left-hander agreed in March to a $62 million, two-year contract that included a $17 million signing bonus payable on Jan. 15, 2026, a $15 million salary for 2024 and a $30 million salary for 2025, of which $15 million would have been deferred and payable on July 1, 2027. Snell, who turns 32 next week, went 5-3 with a 3.12 ERA in 20 starts this year, throwing a no-hitter at Cincinnati on Aug. 2 for one of only 16 individual shutouts in the major leagues this season. He struck out 145 and walked 44 in 104 innings. He was sidelined between April 19 and May 22 by a strained left adductor and between June 2 and July 9 by a strained left groin. Snell won Cy Young Awards in 2018 with Tampa Bay and 2023 with San Diego. He is 76-58 with a 3.19 ERA in nine seasons with the Rays (2016-20), Padres (2021-23) and Giants. Because he turned down a qualifying offer from San Diego last November, the Giants were not eligible to give Snell another one and won’t receive draft-pick compensation. Los Angeles expects All-Star right-hander Tyler Glasnow and three-time Cy Young Award winner Clayton Kershaw back in the rotation next year. Other starting candidates if healthy include right-handers Dustin May, Tony Gonsolin and Bobby Miller. Ohtani is coming off right elbow surgery in September 2023 and left shoulder surgery on Nov. 5. Glasnow didn’t pitch after Aug. 11 because of right elbow tendinitis. Kershaw, who turns 37 in March, had foot and knee surgeries on Nov. 7. He declined a $10 million player option in favor of free agency, but is expected to return to Los Angeles. May is coming back from Tommy John surgery in July 2023 and for an operation this past July to repair a tear in his esophagus. Gonsolin spent 2024 rehabbing from Tommy John surgery. Miller, an 11-game winner as a rookie in 2023, was sidelined early this season by shoulder inflammation. He struggled to a 2-4 record with an 8.52 ERA in 13 big league starts and ended the regular season in the minors. Yamamoto was sidelined by right triceps tightness between June 15 and Sept. 10, then returned and went 2-0 with a 3.86 ERA in four postseason starts to cap the first season of his $325 million contract. AP Baseball Writers Janie McCauley and Mike Fitzpatrick contributed to this report. AP MLB: https://apnews.com/hub/MLB
A federal appeals court has turned away a challenge to a fast-approaching nationwide ban of short-video app TikTok unless it divests from Chinese ownership, placing national security before free speech concerns and bringing the app’s 170 million U.S. users closer to losing access to the wildly popular platform. The U.S. Court of Appeals for the D.C. Circuit on Friday sided with the Justice Department, which argued that the U.S. government has the authority to ban TikTok based on the national security risk that TikTok could be pressured by the Chinese government to expose Americans’ data or influence what they see. TikTok’s parent, ByteDance, is based in China. TikTok had argued to the three-judge panel, unsuccessfully, that the ban must be struck down for infringement on the free speech rights of the app’s users and owners under the First Amendment of the Constitution. “The Government has offered persuasive evidence demonstrating that the Act is narrowly tailored to protect national security,” the court wrote in its opinion. TikTok is expected to ask the Supreme Court to take up the case before the sale deadline ends Jan. 19 or to first request that all the judges on the appeals court review the panel’s decision. “The Supreme Court has an established historical record of protecting Americans’ right to free speech and we expect they will do just that on this important constitutional issue,” TikTok spokesperson Michael Hughes said in a statement. He criticized the ban-or-sale law as being based on “inaccurate” information and said it was “resulting in the outright censorship of the American people.” The appeals court on Friday said years-long bipartisan investigations into the app, and the government’s willingness to consider TikTok’s alternatives, weighed in favor of the law. “The First Amendment exists to protect free speech in the United States,” Judge Douglas Ginsburg wrote for a three-judge panel. “Here the Government acted solely to protect that freedom from a foreign adversary nation.” However, the judges said they rejected the government’s “ambitious argument” that the law did not “implicate the First Amendment at all,” saying that it would impose a “disproportionate burden on TikTok, an entity engaged in expressive activity.” The government had suggested that TikTok’s ownership by a foreign company left it without First Amendment rights, despite it having roughly 170 million U.S. accounts. The decision sets up a potential showdown with President-elect Donald Trump. Having backed a ban during his first term in the White House, he is expected to try to halt it, people familiar with his views on the matter told The Washington Post in early November, speaking on the condition of anonymity to discuss private conversations. "I am optimistic that President Trump will facilitate an American takeover of TikTok to allow its continued use in the United States and I look forward to welcoming the app in America under new ownership," said John Moolenaar (R-Michigan), the chairman of the House Select Committee on the Chinese Communist Party. “This went about as badly for TikTok as it could’ve gone,” said Alan Rozenshtein, a former national security adviser to the Justice Department. ,"I see no reason to think the Supreme Court will rule any differently than the DC circuit did." Given that legal situation, he said, Trump could take any of three actions to help TikTok fend off the ban: persuading Congress to repeal the law, directing his new attorney general not to enforce it, or declaring that ByteDance has satisfied the statute by performing a “qualified divestiture” of TikTok. The White House and Trump’s team did not immediately respond to requests for comment. The court decision drew praise from U.S. security hawks on Friday, while free-speech advocates expressed deep dismay. Craig Singleton, senior China fellow at the non-partisan Foundation for Defense of Democracies and a former U.S. diplomat, called it a “warning shot to foreign companies operating in sensitive sectors.” "This ruling isn’t just about TikTok - it’s a bellwether for how the U.S. will confront tech threats from authoritarian regimes,” he said. Jameel Jaffer, executive director of the Knight First Amendment Institute, criticized the ruling as “hugely consequential for free speech” and called it “disturbing” that the court would support such curbs on speech based on an argument of protecting Americans from foreign disinformation. “Foreign disinformation is a very real thing. It can be a very real threat to the integrity of public discourse in this country,” he said. “But to jump from those propositions to ‘And therefore the government has a compelling interest in suppressing what it determines to be foreign lies’ - I think that’s a really big leap.” The D.C. Circuit’s 65-page judgment was unanimous and joined by judges from across the ideological spectrum. The opinion was written by Ginsburg, a nominee of Ronald Reagan, and joined by Chief Judge Sri Srinivasan, an Obama nominee, and Judge Neomi Rao, a Trump nominee. Srinivasan wrote separately to say he agreed that the law does not violate the First Amendment, but for different reasons. TikTok has the opportunity to ask the D.C. Circuit to rehear the case sitting with a full complement of judges or go directly the Supreme Court. Because the three-judge panel was unanimous, and the opinion joined by judges spanning the ideological spectrum, it is less likely that the full D.C. Circuit would vote to review the decision. The legislation, known as the Protecting Americans from Foreign Adversary Controlled Applications Act, was signed into law by President Joe Biden in April, shortly after it was passed by Congress as part of a sprawling package offering aid to Israel, Ukraine and Taiwan. The law called TikTok an application controlled by a “foreign adversary” and gave ByteDance roughly nine months to sell the platform to non-Chinese ownership or face a nationwide ban. Finance experts called that time frame almost impossibly short for executing a sale, a complicated transaction that would require regulatory approval in multiple countries. The law gives the president the option to extend the divestment deadline by 90 days if the administration deems the company has made “significant progress” toward a sale. Further complicating the prospects of a sale, China has said it would block the sale and export of TikTok’s recommendation algorithm, one of the app’s most critical components. The looming U.S. ban came as a major shock to many of TikTok’s 170 million users in the United States, who have grown accustomed to using the app for daily entertainment or, in some cases, as the chief basis for marketing their small businesses. Since the end of the Cold War decades ago, the U.S. government has rarely invoked national security to impinge on the operation of media platforms. U.S. officials who backed the ban say that TikTok collects a vast trove of data on its users, ranging from their location to their contact networks and that the company would have limited ability under Chinese law to withhold such data if Beijing officials requested it. TikTok executives argued vehemently that they have firewalled U.S. TikTok user data from the parent company in China, but they failed to convince the U.S. government. The push to ban the app also came amid the backdrop of a broadly deepening U.S.-China rivalry, with Chinese technology companies facing closer scrutiny in Washington than similar firms based in other countries. TikTok filed a legal challenge against the Justice Department in May, arguing that the new law violated the First Amendment. A group of TikTok creators followed with their own parallel lawsuit. The Justice Department and TikTok presented their cases in September in the federal Court of Appeals for the D.C. Circuit. While Srinivasan noted at the hearing that there would be “serious First Amendment concerns” if such a case involved a purely domestic company, the judges noted that there was legal precedent for national security concerns to override free speech considerations. The two sides had requested an expedited judgment from the court by early December to allow time for a potential appeal to be filed with the Supreme Court before the Jan. 19 deadline. In a separate legal case, more than a dozen state attorneys general filed a lawsuit in October accusing TikTok of harming the well-being of children by using addictive product features that keep them hooked on the platform. TikTok said in a statement that it strongly disagreed with the claims. - - - Aaron Schaffer and Ann Marimow contributed to this report.
The San Diego County Water Authority has purchased a new building on 9 acres in Escondido for $38.76 million, according to a brokerage. San Diego-based RPG sold the 88,552-square-foot facility. The property, now completed, is part of a larger planned two-building industrial development, known as the Escondido Logistics Center, on Citracado Parkway at So. Andreasen Drive. The second building, at 58,502 square feet, is still under construction. It is set to be completed in January and is also on the market. The water authority plans to use the site to replace its 76-year-old operations and maintenance facility on 5th Avenue in Escondido. Officials looked at 20 options before deciding on the Citracado property. After design and construction, the move is set to take place in 2026. The project to replace the current 2.74-acre site has been in the works since 2018. Cushman & Wakefield ’s Aric Starck and Drew Dodds represented RPG, a privately held, commercial real estate investment firm that acquires, owns and develops industrial, mixed-use and office properties. We have launched our year-end campaign. Our goal: Raise $50,000 by Dec. 31. Help us get there. Times of San Diego is devoted to producing timely, comprehensive news about San Diego County. Your donation helps keep our work free-to-read, funds reporters who cover local issues and allows us to write stories that hold public officials accountable. Join the growing list of donors investing in our community's long-term future. “This was a unique industrial acquisition opportunity of a new Class A freestanding industrial building that is very well positioned in North San Diego County, a highly desired market,” said Starck, executive vice chair of Cushman & Wakefield. He said the center is the first speculative industrial development to be completed in Escondido in the previous five years and of the few new industrial development options available in North County. The Escondido Logistics Center includes 28-foot clear heights, heavy power, a large truck court and abundant loading positions, while its elevated hillside location allows for regional visibility. The property is located in the master planned Escondido Research and Technology Center, adjacent to Palomar Hospital. Get Our Free Daily Email Newsletter Get the latest local and California news from Times of San Diego delivered to your inbox at 8 a.m. daily. Sign up for our free email newsletter and be fully informed of the most important developments. Sign Up (adsbygoogle = window.adsbygoogle || []).push({}); (adsbygoogle = window.adsbygoogle || []).push({});Martial law to miracle survival: South Korea's president Yoon
Reckless and dangerous driving is not merely a traffic violation, it is a grave concern and endangers the lives of road users says Prime Minister Sitiveni Rabuka. He highlighted the importance of public collaboration in tackling reckless and dangerous driving, particularly incidents highlighted on social media. The Prime Minister clarified that while social media posts can provide leads, investigations are only initiated if formal complaints are lodged with the police. He stresses that the authenticity, reliability, and relevance of evidence are critical. Rabuka is urging all Fijians to work hand in hand with law enforcement agencies. The Prime Minister stresses that the law enforcement agencies, including the Fiji Police Force and Land Transport Authority do not turn a blind eye to such matters. He says they remain vigilant and are determined to uphold the rule law.After drubbing, San Jose Sharks look for response in South Florida
President-elect Donald Trump’s plan to mass deport illegal aliens will force up United States wages as employers are unable to rely on cheaper foreign workers, a new report suggests. A report from CalMatters, a California-based nonprofit news organization, admits that employers will have to pay more for labor as a result of mass deportations because foreign workers are cheaper to hire than their American counterparts. CalMatters reports : Mass deportations promised by President-elect Donald Trump could have a seismic economic effect in California — potentially inflicting billions of dollars in direct damages to a wide range of industries, including small business, agriculture, construction and child care, advocates and academics said. [Emphasis added] ... It could be costly to replace those who are deported. In the construction industry, for example, the median weekly earnings of full-time, U.S.-born workers as of 2020 were $1,031 vs. $786 for foreign-born workers, according to an analysis by the Bureau of Labor Statistics. In California, the median hourly wage as of 2021 was $30 an hour for U.S.-born workers vs. $24 an hour for immigrant workers vs. $16 an hour for undocumented workers , according to the California Immigrant Data Portal, a project by the Equity Research Institute at USC, which is directed by Pastor. [Emphasis added] The fact that employers tend to pay foreign workers, particularly illegal aliens, less than Americans is partly why the California Chamber of Commerce is opposing Trump’s mass deportation program. Instead, the Chamber is lobbying for amnesty for the nation’s 11 to 22 million illegal aliens. President Jennifer Barrera said: It is no secret that undocumented workers greatly contribute to California’s economy given our geographical proximity to the border, which is why CalChamber has been a long-time supporter of a national comprehensive effort that provides a pathway to citizenship or legal status for these individuals while at the same time addressing border security. Already, Breitbart News reported, construction industry bosses are complaining that mass deportations under Trump will take away many of their illegally employed foreign workers. Trump and Vice President-Elect JD Vance have long argued for a tightened labor market where employers have to compete for employees rather than employees competing for scarce jobs. Fierce enforcement of federal immigration law, Trump and Vance say, is a critical component in protecting the labor market for Americans so they do not have to compete against cheaper foreign workers who are often illegally in the U.S. John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here .
Mariah Carey cancels 2 New York, New Jersey Christmas concerts
A federal appeals court panel on Friday unanimously upheld a law that could lead to a ban on TikTok in a few short months, handing a resounding defeat to the popular social media platform as it fights for its survival in the U.S. The U.S. Court of Appeals for the District of Columbia Circuit denied TikTok's petition to overturn the law — which requires TikTok to break ties with its China-based parent company ByteDance or be banned by mid-January — and rebuffed the company's challenge of the statute, which it argued had ran afoul of the First Amendment. “The First Amendment exists to protect free speech in the United States,” said the court's opinion, which was written by Judge Douglas Ginsburg. “Here the Government acted solely to protect that freedom from a foreign adversary nation and to limit that adversary’s ability to gather data on people in the United States.” TikTok and ByteDance — another plaintiff in the lawsuit — are expected to appeal to the Supreme Court, though its unclear whether the court will take up the case. “The Supreme Court has an established historical record of protecting Americans’ right to free speech, and we expect they will do just that on this important constitutional issue," TikTok spokesperson Michael Hughes said in a statement. “Unfortunately, the TikTok ban was conceived and pushed through based upon inaccurate, flawed and hypothetical information, resulting in outright censorship of the American people,” Hughes said. Unless stopped, he argued the statute “will silence the voices of over 170 million Americans here in the US and around the world on January 19th, 2025.” Though the case is squarely in the court system, its also possible the two companies might be thrown some sort of a lifeline by President-elect Donald Trump, who tried to ban TikTok during his first term but said during the presidential campaign that he is now against such action . The law, signed by President Joe Biden in April, was the culmination of a years-long saga in Washington over the short-form video-sharing app, which the government sees as a national security threat due to its connections to China. The U.S. has said it’s concerned about TikTok collecting vast swaths of user data, including sensitive information on viewing habits , that could fall into the hands of the Chinese government through coercion. Officials have also warned the proprietary algorithm that fuels what users see on the app is vulnerable to manipulation by Chinese authorities, who can use it to shape content on the platform in a way that’s difficult to detect — a concern mirrored by the European Union on Friday as it scrutinizes the video-sharing app’s role in the Romanian elections. TikTok, which sued the government over the law in May, has long denied it could be used by Beijing to spy on or manipulate Americans. Its attorneys have accurately pointed out that the U.S. hasn’t provided evidence to show that the company handed over user data to the Chinese government, or manipulated content for Beijing’s benefit in the U.S. They have also argued the law is predicated on future risks, which the Department of Justice has emphasized pointing in part to unspecified action it claims the two companies have taken in the past due to demands from the Chinese government. Friday’s ruling came after the appeals court panel, composed of two Republican and one Democrat appointed judges, heard oral arguments in September. In the hearing, which lasted more than two hours, the panel appeared to grapple with how TikTok’s foreign ownership affects its rights under the Constitution and how far the government could go to curtail potential influence from abroad on a foreign-owned platform. On Friday, all three of them denied TikTok’s petition. In the court's ruling, Ginsburg, a Republican appointee, rejected TikTok's main legal arguments against the law, including that the statute was an unlawful bill of attainder or a taking of property in violation of the Fifth Amendment. He also said the law did not violate the First Amendment because the government is not looking to "suppress content or require a certain mix of content” on TikTok. “Content on the platform could in principle remain unchanged after divestiture, and people in the United States would remain free to read and share as much PRC propaganda (or any other content) as they desire on TikTok or any other platform of their choosing,” Ginsburg wrote, using the abbreviation for the People’s Republic of China. Judge Sri Srinivasan, the chief judge on the court, issued a concurring opinion. TikTok’s lawsuit was consolidated with a second legal challenge brought by several content creators - for which the company is covering legal costs - as well as a third one filed on behalf of conservative creators who work with a nonprofit called BASED Politics Inc. Other organizations, including the Knight First Amendment Institute, had also filed amicus briefs supporting TikTok. “This is a deeply misguided ruling that reads important First Amendment precedents too narrowly and gives the government sweeping power to restrict Americans’ access to information, ideas, and media from abroad,” said Jameel Jaffer, the executive director of the organization. “We hope that the appeals court’s ruling won’t be the last word.” Meanwhile, on Capitol Hill, lawmakers who had pushed for the legislation celebrated the court's ruling. "I am optimistic that President Trump will facilitate an American takeover of TikTok to allow its continued use in the United States and I look forward to welcoming the app in America under new ownership,” said Republican Rep. John Moolenaar of Michigan, chairman of the House Select Committee on China. Democratic Rep. Raja Krishnamoorthi, who co-authored the law, said “it's time for ByteDance to accept” the law. To assuage concerns about the company’s owners, TikTok says it has invested more than $2 billion to bolster protections around U.S. user data. The company has also argued the government’s broader concerns could have been resolved in a draft agreement it provided the Biden administration more than two years ago during talks between the two sides. It has blamed the government for walking away from further negotiations on the agreement, which the Justice Department argues is insufficient. Attorneys for the two companies have claimed it’s impossible to divest the platform commercially and technologically. They also say any sale of TikTok without the coveted algorithm - the platform’s secret sauce that Chinese authorities would likely block under any divesture plan - would turn the U.S. version of TikTok into an island disconnected from other global content. Still, some investors, including Trump’s former Treasury Secretary Steven Mnuchin and billionaire Frank McCourt, have expressed interest in purchasing the platform. Both men said earlier this year that they were launching a consortium to purchase TikTok’s U.S. business. This week, a spokesperson for McCourt’s Project Liberty initiative, which aims to protect online privacy, said unnamed participants in their bid have made informal commitments of more than $20 billion in capital. Haleluya Hadero, The Associated Press
Get a Free ROG Ally With Your ASUS Laptops or Desktops Over CA$1,499 This Holiday Season in Canada!An Ohio teacher is suing her school district after she was reprimanded and ultimately suspended for having books with LGBTQ characters in her classroom. Karen Cahall, an elementary school teacher, filed a federal case against the school board, Superintendent Tracey Miller and board members Todd Wells, Tim DuFau, Robert Wooten, Jonathan Zimmerman and Amy Story, The Cincinnati Enquirer reported Friday. "Cahall maintains sincere and deeply rooted moral and religious beliefs that all children, including children who are LGBTQ+ or the children of parents who are LGBTQ+, deserve to be respected, accepted, and loved for who they are," her lawsuit reads . So far, the school district won't comment. ALSO READ: A mysterious group of Republicans is secretly rewriting the Constitution The report said there is no policy specifically regarding book bans, only a blanket "controversial issues" rule . It says that topics "likely to arouse both support and opposition in the community" are allowed to be taught in classrooms so long as they are related to the class's instructional goals, encourage open-mindedness, and teachers don't "tend to indoctrinate or persuade students to a particular point of view." Anything outside the curriculum has to be approved by a principal. Cahall called the rule unconstitutional and said it was the reason she was suspended without pay. Four books with LGBTQ characters were on the shelf in her classroom, along with about 100 other books available to students. The lawsuit noted they weren't prominently displayed and she never read from or taught them, nor required students to read them. They were simply on the shelf. The lawsuit also said there's no sexual activity in the books, rather their characters "are coming to terms with feeling different and excluded." Parent Kayla Shaw complained. Cahall has taught in the school district for more than 30 years. Conservatives have used their faith to censor books in the past, The Interfaith Alliance noted in September ahead of new congressional legislation. “Censorship is a religious freedom issue — book banning is a political strategy that could silence diverse religious voices and traditions that are a major part of the rich social fabric of America,” said Interfaith Alliance president, Rev. Paul Brandeis Raushenbush. “Sadly, many who want to ban books use religion as their excuse to target LGBTQIA+ voices, communities of color, and many others. In fact, most people of faith and conscience in this country oppose these harmful efforts – and stand firmly behind the right to read.” The superintendent said Cahall knew the books were banned because her request was denied to include them in the library. "You subsequently placed the books in your classroom library without putting them through the established approval process," a disciplinary letter Miller sent to Cahall said. "It is my sincere hope that you will internalize the discipline you are receiving and that you will reflect upon this in order to change," Miller continued. "However, if you continue to behave in this manner in the future, you will be subjected to more severe discipline up to and including termination of your employment."Aaron Rodgers has opens up about his relationship with his father in his new Netflix documentary. In a new trailer for the New York Jets quarterback ’s Aaron Rodgers: Enigma, Rodgers said he felt like his emotional intelligence was “stunted” because his father refused to show emotions. The clip begins with the NFL player at an ayahuasca ceremony, as he is known for being an avid psychedelic user. “I think part of the real joy in this work, is, there is such a feminine spirit to ayahuasca,” Rodgers can be heard saying. He then begins discussing the benefits he’s experienced since beginning the ceremonies such as being able to “model a new way of thinking about masculinity, or what it means to be a man,” and helping him to be able to achieve “the balance between the divine masculine and the divine feminine.” The former Green Bay Packers quarterback transitioned to talking about his father, Ed Rodgers, as he admitted that he could only recall him crying once which was when his grandfather died. “I think I saw my dad cry when my grandfather passed. And that might have been it,” he said. “There wasn’t space for emotion, so I definitely had some stunted emotional intelligence.” He explained that he didn’t start to become more in tune with his feelings until he discovered what the public perception of him was. “People who haven’t been around me a lot have this idea of who I am or whatnot, and in these situations, you start to peel back some of those layers of who they think you are and start getting deep and getting emotional,” Rodgers said. “I think that’s what it means to be a well-balanced man,” he added. “To be able to tap into that divine feminine and be vulnerable.” The documentary, directed by Gotham Chopra and Liam Hughes, will be split into three parts as Rodgers discusses his injury during the 2023 NFL season when he tore his left Achilles only four minutes into his debut game as a Jet. The football player will also discuss his more controversial opinions such as his false claims regarding the COVID-19 vaccine. Back in May, Rodgers said in a discussion with former Fox News host Tucker Carlson : “I’ve been strong against the vax, against lockdowns, against mandates, against all of it. In the last few months, I’ve been looking at things a little bit differently. “Those people had a ton of fear. They thought they were doing the right thing, for themselves, for their friends, for their families.” He continued: “They went through all the mass-formation psychosis that we all did — the full-court propaganda against us – and are now going, ‘oh s***. Maybe that wasn’t the best. Maybe they lied to us. Maybe this wasn’t safe...’” Aaron Rodgers: Enigma will be available to stream on Netflix on December 17.
