David Herndon, the Kansas bank commissioner, told a joint committee of the Kansas Legislature that he continued to have reservations about the banking charter issued to Beneficient Fiduciary Financial LLC of Hesston because the law creating the unique form of banking prevented state regulators from fully reviewing operations of SFF. (Sherman Smith/Kansas Reflector) TOPEKA — The Kansas banking commissioner renewed apprehension about regulatory limitations in state law that inhibit thorough examination of the unusual business granted a banking charter by order of the Kansas Legislature. State banking commissioner David Herndon said Kansas law adopted in 2022 provided the charter to Beneficient Fiduciary Financial LLC of Hesston and simultaneously forbid the Kansas Office of State Banking Commissioner from applying international evaluation standards to BFF. The statute blocked the commissioner from rating BFF in terms of capital adequacy, asset quality, management, earnings, liquidity and sensitivity to market risk. Kansas kept state banking regulators from fully examining operations of BFF, Herndon said, despite his belief BFF’s debt instruments should be considered a “substandard asset.” Two recent limited evaluations of BFF by Herdon’s staff remain confidential, he said. In addition, Herndon last week told the Kansas Joint Committee on Fiduciary Financial Institutions that state law failed to meet requirements established by the Federal Bureau of Investigation for background checks of organizers at BFF or any other technology-enabled fiduciary financial institution, or TEFFI, authorized by the state. So far, BFF is the lone TEFFI in Kansas. “Those concerns remain, and in some cases, have deepened,” said Herndon, who had sounded alarms since inception of the TEFFI concept. “It is still impossible to conduct a meaningful safety and soundness examination.” The U.S. Securities and Exchange Commission launched an investigation of Beneficient, the Dallas-based parent company of BFF. In July, Beneficient said the SEC closed that inquiry and wouldn’t recommend enforcement action by the SEC. However, Herndon said, financial problems at the parent company could bleed into BFF and other Beneficient subsidiaries. A series of executives associated with Beneficient and BFF offered the bipartisan House and Senate oversight committee a contrary perspective on work to implement a TEFFI law unique to Kansas. The executives said the company had faced challenges, but were bullish on prospects of generating revenue, contributing to economic development in Kansas and serving as a positive example for how business could be conducted under a TEFFI model. The heart of the operation involved Beneficient assisting wealthy individuals and business owners to exchange illiquid assets locked in investment funds for liquid assets such as cash and stock. Beneficient has no interest in the deals on expensive artwork, antique vehicles or wine collections, but has targeted private equity assets that hold value but don’t produce regular cash flow. The Kansas-endorsed business earns fees for work with these alternative assets. Twenty percent of a 2.5% cut in fee revenue must be diverted to the Kansas Department of Commerce for distribution to economic development projects across the state. The remaining 80% of this slice of fee revenue must flow to the Beneficient Heartland Foundation for economic development in Hesston. Brad Heppner, CEO and board chairman of BFF, said constraints in the U.S. economy inhibited mergers and acquisitions that would have contributed to Beneficient’s TEFFI business model. After taking Beneficient public on Nasdaq in 2023, the financial services company’s stock crashed. The 52-week high in Beneficient stock value was $51.14 per share and the 52-week low was less that $1 per share. On Tuesday, it sat at 82 cents per share. Heppner told state lawmakers he was optimistic there would be a surge during the next year or so in U.S. mergers and acquisitions. He said the forecast was based, in part, on promises made by President-elect Donald Trump. “We have turned the corner,” Heppner said. “Finally, after a pretty disastrous previous year.” He said there were no guarantee of a stronger market for alternative asset deals, “but there’s general euphoria.” In April 2022, Heppner predicted as many as 50 companies eager to operate as a TEFFI could open offices in Hesston within two years. None have done so. Rep. Stephen Owens, a Hesston Republican and legislative champion of BFF and Beneficient, said when the TEFFI law was created that it could attract alternative asset businesses to Kansas in the same way the credit card issuing industry boomed in South Dakota. He said two years ago a business-friendly TEFFI model could drive as much as $1 billion over a decade into Kansas. Owens is on the joint legislative oversight committee responsible for monitoring BFF. Democratic Sen. Jeff Pittman of Leavenworth, another member of the committee, said he was concerned the TEFFI concept hadn’t taken off in the way Heppner and Owens predicted in the past. He said members of the Legislature would benefit from testimony by independent experts in the banking industry who might explain what was holding back investment in the TEFFI market. During the joint committee’s recent hearing at the Capitol, testimony came from BFF associates, the state banking commissioner and the state Department of Commerce. Heppner said it was true BFF remained the lone TEFFI in the United States, but he asserted there was interest from two out-of-state groups that might be willing to enter the alternative asset business in Kansas. He didn’t identify those entities. The state banking commissioner said he’d had no inquiries from companies intrigued by Kansas’ first-of-its-kind alternative asset framework. Sen. Michael Fagg, R-El Dorado, praised BFF’s distribution of several million dollars in economic development seed grants through the Department of Commerce. The third round of grants were released by the Department of Commerce in September. Fagg lauded plans to move ahead with revitalization of Main Street in Hesston, including development of a grocery store. That work is funneled through the Beneficient’s foundation. “We wouldn’t have any of this economic development without BFF,” Fagg said. “We’re trying to promote a new idea. I wanted to personally and publicly thank them (BFF) for that.” Former state Sen. Jeff King, an attorney with Crossroads Legal Solutions who represents Benificient and BFF, said the federal SEC investigation of Beneficient came to an end. He said the Beneficient believed it was time for the Legislature to consider how the current regulatory structure had performed and how changes could more effectively attract clients. Alan Dienes, managing director and chief operating office at BFF, urged lawmakers to exempt BFF from certain regulations typical of a bank. He said state law required BFF to complete daily and monthly reports in the manner of a bank, but the TEFFI shouldn’t be treated as such. He said the 2025 Legislature should allow BFF more time to compile quarterly reports and be exempted from lending limits. “We think it’s time to start fine-tuning the statute,” he said. “The world changes a little bit.” BFF executives urged the Legislature to compel the Department of Commerce to launch a marketing campaign to recruit businesses that might make use of a TEFFI charter. BFF president Derek Fletcher said the state’s TEFFI law should be amended during the upcoming session to recognize movement toward digitization of asset ownership. He said the state’s $250,000 application fee for a TEFFI was too high, despite the scheduled lowering of that fee to $100,000 next year. He said the fee was a barrier to entry into the TEFFI business world. If the Legislature took up a TEFFI reform bill, the state banking commissioner said lawmakers should include provisions that would address voluntary or involuntary termination of BFF operations or of any subsequent TEFFI. Beneficient executives previously opposed placement into statute of language that outlined what would happen if a TEFFI was declared insolvent. In the past, Sen. Tom Holland, D-Baldwin City, was unsuccessful in generating interest in legislation that would grant state regulators the authority to suspend Beneficient’s operations. Holland also had sought a state-led inquiry of Beneficient and Beneficient’s former parent company, GWG Holdings. A federal lawsuit alleges GWG Holdings misled investors by selling hundreds of millions of dollars in bonds. GWG Holdings spun off Beneficient in 2022 as the Legislature was engaged in developing a program to create the TEFFI sought by Beneficient.jili golden bank 。

Ukrainian girls’ team finds hockey haven at Wickenheiser festivalFormer PM Manmohan Singh Passes Away

Documentary about dyes includes WNC professor, sonAP News Summary at 5:36 p.m. EST

B.C. Premier Eby says U.S. tariffs would be 'devastating' for forest industryCreepy Video Captures Dozens of News Broadcasts Airing Same Word-for-Word Attack on So-Called 'Misinformation'

House Speaker Mike Johnson and U.S. Rep. Mariannette Miller-Meeks spoke to reporters following an event in Indianola Oct. 18, 2024. (Photo by Robin Opsahl/Iowa Capital Dispatch) U.S. Rep. Mariannette Miller-Meeks’ reelection win for Iowa’s 1st Congressional District was confirmed Wednesday as the recount requested by Democratic challenger Christina Bohannan concluded. The Associated Press called the race at 3:07 p.m. Wednesday, several weeks after the Nov. 5 general election. As of the latest updates from the AP, Miller-Meeks won with unofficial results showing her at 206,955 votes to Bohannan’s 206,157 — a 798-vote margin, slightly smaller than the 802-vote gap reported when Bohannan requested the recount earlier in November . The recount process was conducted in all 20 counties in the 1st Congressional District over the course of seven days, with the final two counties — Johnson and Keokuk counties — finishing their recounts Wednesday. There were no changes to the vote totals during the recount process in Keokuk County, according to the local county auditor’s office. In Johnson County, Miller-Meeks’ lead dropped by two votes and Bohannan’s dropped by six, according to county auditor staff. Bohannan conceded the race in a Wednesday statement, congratulating Miller-Meeks on her victory. She thanked election officials and volunteers for their efforts during the election and recount process — as well as thanking Iowans “for their patience” as the recount was conducted. “Although this is not the result we wanted, I am so proud of our campaign,” Bohannan said. “We exceeded all expectations and turned a district that many pundits thought was unwinnable into one of the very closest races in the country. ... I am honored by the roughly half of Iowans in this district – people of all political parties – who voted for me to be their next congresswoman. Although I won’t be able to represent them in Washington DC this January, I want them to know that I will continue our important work of putting Iowa first.” With the conclusion of the 1st Congressional District recount, all recount processes for 2024 elections in the state have concluded. Three legislative races were also brought to recount from the 2024 election with results showing two Democratic incumbents, Sen. Sarah Trone Garriott, D-Waukee, and Rep. Monica Kurth, D-Davenport, keeping their seats, as well as confirming the loss of incumbent Sen. Nate Boulton, D-Des Moines, to Republican Mike Pike. With these recounts over, Iowa’s federal delegation will continue to be all Republican. Republicans will also hold a trifecta of control at the Iowa Statehouse, with supermajorities in both the state House and Senate. Miller-Meeks gave her victory speech at her Election Night watch party and has criticized Bohannan for pursuing a recount. She, alongside the House GOP campaign arm, the National Republican Congressional Committee, have criticized Bohannan for not conceding the race earlier because of the cost to the state, claiming the process had cost $21,000 as of Tuesday. Mike Marinella, a NRCC spokesperson, released a statement congratulating Miller-Meeks on her reelection Wednesday. “Congratulations to Congresswoman Mariannette Miller-Meeks on her incredible victory,” Marinella said. “As a doctor, veteran, and Congresswoman, Congresswoman Miller-Meeks has always answered the call to service. Rep. Miller-Meeks’ record speaks for itself, and she will continue to deliver valuable results for veterans, farmers, small business owners and families across Southeast Iowa.”

Louisiana State Employees Retirement System decreased its holdings in shares of Amazon.com, Inc. ( NASDAQ:AMZN – Free Report ) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 835,900 shares of the e-commerce giant’s stock after selling 2,300 shares during the quarter. Amazon.com comprises about 2.9% of Louisiana State Employees Retirement System’s portfolio, making the stock its 4th biggest holding. Louisiana State Employees Retirement System’s holdings in Amazon.com were worth $155,753,000 at the end of the most recent quarter. Other large investors have also modified their holdings of the company. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter valued at about $45,000. Christopher J. Hasenberg Inc grew its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock. Wall Street Analysts Forecast Growth AMZN has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Maxim Group increased their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.20. Amazon.com Stock Up 1.0 % Shares of NASDAQ:AMZN opened at $207.89 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $142.81 and a 1 year high of $215.90. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 44.52, a PEG ratio of 1.38 and a beta of 1.14. The stock has a 50-day simple moving average of $194.78 and a 200-day simple moving average of $186.94. Amazon.com ( NASDAQ:AMZN – Get Free Report ) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year. Insider Buying and Selling at Amazon.com In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website . Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here . Insiders sold 6,026,683 shares of company stock valued at $1,252,148,795 over the last 90 days. 10.80% of the stock is owned by corporate insiders. Amazon.com Company Profile ( Free Report ) Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content. Further Reading Five stocks we like better than Amazon.com How to Invest in Insurance Companies: A Guide The Latest 13F Filings Are In: See Where Big Money Is Flowing How to Use the MarketBeat Excel Dividend Calculator 3 Penny Stocks Ready to Break Out in 2025 3 Tickers Leading a Meme Stock Revival FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter .NEW YORK, Nov. 30, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Zeta Global Holdings Corp. (NYSE: ZETA) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Zeta, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/zeta-global-holdings-corp . Investors have until January 21, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Zeta securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Davoodi v. Zeta Global Holdings Corp. , et al. , No. 24-cv-08961. What is the Lawsuit About? Zeta is a cloud-based technology company that provides a marketing platform to assist marketers in acquiring customers. The complaint alleges that Zeta represented that its marketing platform was powered by the industry’s largest opted-in data set. On November 13, 2024, prominent investment research firm Culper Research published a report titled: “Zeta Global Holdings Corp (ZETA): Shams, Scams, and Spam.” Based on Culper’s investigation that included proprietary interviews with industry experts and former Zeta employees, the research firm found that Zeta’s data set had been generated from a network of “consent farms” – i.e., sham websites designed to gather consumer data under false pretenses or awards that did not exist. Culper Research further wrote that these consent farms drove almost the entirety of Zeta’s growth over the past 2+ years, representing 56% of its Adjusted EBITDA, and could result in devastating regulatory action. The news caused a significant decline in the price of Zeta stock. On November 13, 2024, the price of the company’s stock fell 37%, from a closing price of $28.22 per share on November 12, 2024, to $17.76 per share on November 13, 2024. Click here for more information: https://www.bfalaw.com/cases-investigations/zeta-global-holdings-corp . What Can You Do? If you invested in Zeta you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: https://www.bfalaw.com/cases-investigations/zeta-global-holdings-corp Or contact: Ross Shikowitz ross@bfalaw.com 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit https://www.bfalaw.com . https://www.bfalaw.com/cases-investigations/zeta-global-holdings-corp Attorney advertising. Past results do not guarantee future outcomes.Which concerns are real for Celtics amid their first rough patch?

Joly touts ‘private’ diplomacy as Mexico criticizes Canada’s culture, tradeKALAMAZOO, Mich. (AP) — Zahir Abdus-Salaam ran for a touchdown and caught another as Western Michigan defeated Eastern Michigan 26-18 on Saturday to become bowl eligible, snapping a three-game losing streak. Abdus-Salaam scored on a 22-yard run for a 23-8 lead in the third quarter and he celebrated by jumping into a snowbank bordering the end zone. The Broncos (6-6, 5-3 Mid-American Conference) blocked a punt for safety that started a run of 16 points in under four minutes. Abdus-Salaam scored on a 31-yard screen pass then Joey Pope recovered a fumble on the ensuing kickoff to set up Jalen Buckley's 15-yard TD run with 19 seconds before the half ended. Eastern Michigan's Delmert Mimms II scored two third-quarter touchdowns. The teams exchanged field goals for the only fourth-quarter scoring. The Eagles got the ball back with 2:18 remaining but on their first play Bilhal Kone intercepted a tipped pass. Eastern Michigan (5-7, 2-6) lost its last five games. Abdus-Salaam rushed for 135 yards and Buckley 103 on 19 carries apiece. Hayden Wolff threw for 126 yards and a score. Abdus-Salaam had 40 yards receiving. Mimms rushed for 127 yards on 18 carries. Cole Snyder was only 7 of 22 for 91 yards passing. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football . Sign up for the AP’s college football newsletter: https://apnews.com/cfbtop25

Anfield Energy Inc. Announces Shareholder Approval of Plan of Arrangement

Donald Trump has told 37 people on death row who had their sentences commuted by Joe Biden to “go to hell” in a lacerating Christmas Day social media post. The president-elect – long a vocal advocate of capital punishment – lashed out at Biden’s decision on his Truth Social platform, after wishing a merry Christmas to political opponents he addressed as “Radical Left Lunatics”. He then turned to those shown clemency by Biden in a decision announced on Monday: “ ... to the 37 most violent criminals, who killed, raped, and plundered like virtually no one before them, but were just given, incredibly, a pardon by Sleepy Joe Biden . I refuse to wish a Merry Christmas to those lucky ‘souls’ but, instead, will say, GO TO HELL!” Biden’s move reduced the death sentences of 37 out of 40 prisoners on federal death row to life imprisonment without parole and followed pressure from campaigners who warned that they were likely to be executed on Trump’s return to the White House. The exceptions applied to three men who had been convicted of offences regarded as terrorism or hate crimes, including Dzhokhar Tsarnaev, who was found guilty of carrying out the 2013 Boston marathon bombing attack. Biden – a one-time adherent of capital punishment – said in a statement that “guided by my conscience ... I am more convinced than ever that we must stop the use of the death penalty at the federal level. I cannot stand back and let a new administration resume executions that I halted.” During his first presidency, Trump restarted federal executions after a 17-year gap, eventually presiding over more than the previous 10 presidents combined. Biden’s commutation order won the praise of campaigners, including Martin Luther King III, the son of the murdered civil rights leader Martin Luther King Jr. The majority of those whose sentences were commuted are people of colour, and 38% are Black, according to the Death Penalty Information Center. One of Trump’s earliest forays into the political arena was a full-page advert calling for the reinstatement of the death penalty after the rape of a jogger in New York City’s Central Park in 1989 and the subsequent arrests of five Black and Latino teenagers, who were charged and eventually convicted of the crime. All five, who denied involvement, were ultimately exonerated and released from prison after another man belatedly made a confession that was confirmed by DNA evidence. The men, now in their 50s, sued Trump for defamation after he falsely said during a presidential debate with Kamala Harris in Philadelphia in September that they had admitted guilt and that the victim had been killed. In another segment of his Christmas Day post , Trump sarcastically offered season’s greetings to Chinese troops serving in the Panama Canal, which he has publicly mused be returned to the US, and to the Canadian prime minister, Justin Trudeau, whom he taunted with the title “governor” in the latest of several demeaning provocations since winning November’s presidential election. “Merry Christmas to all, including to the wonderful soldiers of China, who are lovingly, but illegally, operating the Panama Canal (where we lost 38,000 people in its building 110 years ago), always making certain that the United States puts in Billions of Dollars in ‘repair’ money, but will have absolutely nothing to say about ‘anything’,” he wrote. “Also, to Governor Justin Trudeau of Canada, whose Citizens’ Taxes are far too high, but if Canada was to become our 51st State, their Taxes would be cut by more than 60%, their businesses would immediately double in size, and they would be militarily protected like no other Country anywhere in the World.” Christmas wishes were also extended to the residents of Greenland , “which is needed by the United States for National Security purposes and, who want the US to be there, and we will”. This was a reference to his call, initially made during his first presidency, that Denmark – which has sovereignty over the territory – sell it to the US. Both Denmark and Greenland’s autonomous administration have said that it is not for sale. In a later unrelated post , Trump wrote that he had met the retired Canadian ice hockey star Wayne Gretzky and asked him to run for the prime minister’s office, “soon to be known as the Governor of Canada”. “He had no interest, but I think the people of Canada should start a DRAFT WAYNE GRETZKY Movement,” Trump wrote. “It would be so much fun to watch!”Chinese authorities are contending with a weakening yuan as global investment banks forecast the currency to hit record lows, in anticipation of U.S. president-elect Donald Trump following through with his tariff threats. Philadelphia news 24/7: Watch NBC10 free wherever you are Major investment banks and research firms project offshore yuan to weaken to an average 7.51 per dollar through the end of 2025, according to CNBC's calculation of forecasts from 13 institutions. That would mark the currency's weakest level on record, according to LSEG data going back to 2004. Trump on Monday said he would impose an additional 10% tariff on all Chinese goods coming into the U.S., according to a post on his social media platform Truth Social. Trump had already pledged 60% or higher tariffs on Chinese goods during his election campaign. "U.S. tariffs would, other things equal, lead to an appreciation of the dollar ... currencies of economies with close trade links to the U.S. would see the largest currency adjustments," said Jonas Goltermann, deputy chief markets economist at Capital Economics. The yuan would need to move to a level of 8.42 against the dollar to fully factor in 60% tariffs on all Chinese goods, according to the projection of Mitul Kotecha, Barclays' head of FX & EM macro strategy of Asia. The offshore yuan has lost over 2% since the U.S. presidential election on Nov. 5, and last traded at 7.2514 on Thursday. During the initial round of U.S. tariffs on Chinese goods under Trump's first term as president in 2018, the yuan depreciated by about 5%, according to Reuters , and weakened another 1.5% the following year when trade tensions intensified. China has maintained a tight control over the yuan's value onshore by setting a daily price with the currency allowed to trade within a 2% band around that price. Offshore trading is more market-driven. "The uncertainty is a lot higher this time" than during Trump's first term in office, given the size of tariff threat and magnitude of trade imbalance between China and the U.S., said Ju Wang, head of Greater China FX & rates strategy at BNP Paribas. "Any perceived lack of consistency in the new US administration's policy statements would also add to the uncertainty," Wang added, who expects the PBOC to take "counter-cyclical measures to prevent its currency from overshooting the topside." Chinese authorities are facing a tough call of protecting the yuan from falling too much while striving to get the economy back on track. Any drastic depreciation of yuan could risk exacerbating capital outflows and sending shocks to the financial markets, economists said. "The CNY is already close to the 7.3 per USD level that authorities have been trying to defend," said Cedric Chehab, chief economist at BMI," a push through this level would increase volatility for Chinese financial markets, which the PBOC would want to avoid." But the challenge is that the central bank may not want to raise interest rates to contain yuan's decline, as that would weigh on growth of an already faltering economy, Chehab added. The PBOC has been supporting the value of onshore yuan by capping the daily reference rate at 7.20 on the dollar this year. This month, the central bank also kept several major policy rates unchanged as it seeks to stabilize the currency. The exchange rate will be maintained "basically stable at an adaptive and balanced level," a central bank official said in a statement last week. The stabilizing efforts will arrest some depreciation expectation and support broader Asian FX stability, said Wei Liang Chang, global FX and credit strategist at DBS Bank, who is hopeful that "a recovery is on the cards when U.S. rates soften further." The U.S. dollar index has pared its gains after Trump announced the nomination of Scott Bessent as the next U.S. Treasury secretary, coming off from a two-year peak of 108.09 last Friday. While Bessent, a hedge fund manager, has supported Trump's tariffs, he has advocated a "layered in" approach . "Such policy positions should help contain trade risks, create room for negotiations, and ultimately curb excessive RMB outflows," Chang added.

Thunderbird Entertainment Group Announces 2024 Annual General Meeting and Update on Meeting Materials

Forget about Rudolph and the other reindeer, it was all about Tina, Tara, Topsy, Turvey, Truffle, Toby and Tilly at the annual Santa Donkey Day, which was held on Saturday, December 7 at Highfield Garden Reserve in Algies Bay. Under sunny skies, the seven Highfield donkeys paraded through the reserve to the delight of many children and families who had come from around the area to enjoy the spectacle. Shortly after the parade, Santa arrived being chauffeured in a classic car and was followed by donkey manager Ox Wightman, who welcomed the attendees. There was also a free barbeque, pin the tail on the donkey (not an actual donkey), traditional gala games such as sack races and tug-of-war, the Roberts challenge, and a book reading with Jenny Mespel. Plus donkey rides for the kids, of course. Highfield Garden Reserve and Donkey Society committee member Louise Bartlett said the highlight of the day for her was seeing all the smiles on all the kids’ faces. “As always, it was the hard work and dedication of our wonderful bunch of volunteers that made this day a success.” She thanked Auckland Council, the Rodney Local Board and community park ranger Dan Marrow for his support. “And thanks to all of our superstar donkeys,” she said.When Madhavi Latha Balijepalle noticed that her morning commute took her past NASA Ames Research Center in California’s Silicon Valley, she set a new career goal for herself: working for NASA. “I started manifesting it, thinking about it every day as I drove by. When I started looking for a new job, I saw an opening and decided to apply,” said Balijepalle, a senior database administrator working at the Airspace Operations Laboratory (AOL) at NASA Ames. Eight and a half years later, she supports the researchers and developers who research next-generation solutions to advance aircraft technology and air traffic management. A journey into the unknown Balijepalle’s journey to NASA started thousands of miles away. She grew up in a small town in southern India, studying electrical engineering in college and establishing a career in information technology, working in C++ and Python. When her husband found a job opportunity in the United States, Balijepalle’s life took an unexpected turn. “I never planned to move to America,” said Balijepalle. “It was not easy to come here, even though my husband had a job. I stayed in India for almost nine months, before he found a different job that would help us with my visa and documentation.” After settling into her new country, growing her family, and developing in her new career, Balijepalle began to ponder her dream job at NASA. She and her younger daughter, a fellow space fan, enjoyed talking about the agency’s work in space, and when a Linux administrator position opened up, she jumped at the chance. A dream job becomes reality At the AOL, Balijepalle was initially responsible for managing the lab’s Linux servers and applications. Today, she also supports researchers and developers with development, automation, and deployment of their work. “Latha is the lifeblood of the lab,” said Jeff Homola, co-lead of the Airspace Operations Laboratory at NASA Ames. “Without her unwavering dedication to making sure our systems are safe, secure, up to date, and running smoothly, we would not be able to do what we do in the lab.” One of Balijepalle’s proudest achievements during her NASA career is her language skills. Growing up, she spoke Telugu and Hindi, and learned English, but communication was still a challenge when she arrived at NASA. “I spoke English when I came to America, but not as well, and not using the technical language we use at NASA,” said Balijepalle. “I’m proud that I’ve improved my communications skills.” “Step outside your comfort zone” Looking back on the commute that changed her life, Balijepalle says she owes it all to being up to the challenge. “I wasn’t a risk taker, I didn’t think about stepping outside my comfort zone, but as I drove by NASA Ames each day, I started to think about astronauts. They step outside their comfort zone and leave the planet, so maybe I could take a risk, too.” For those who also dream of working at NASA one day, Balijepalle has some advice: try doing it her way. “Start thinking about it and manifesting your dream. Maybe it will come true, and maybe it won’t, but you might as well try.”

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