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Release time: 2025-01-19 | Source: Unknown
Khalid is speaking out in response to allegations made by his ex-boyfriend Hugo Almonte , who allegedly was the person who outed the singer as gay. The 26-year-old “Young Dumb & Broke” singer came out as gay last week in a series of tweets after Hugo wrote about their relationship in since-deleted posts. Hugo claimed that Khalid “lied and said that I broke into his house,” according to Rolling Stone . Hugo told the outlet that he didn’t mean to out anyone and he meant to “share how [Khalid] tried to use his power to silence me because I simply ended our relationship.” Khalid posted a video on social media on Monday (November 25) in response to some of Hugo ‘s allegations. Keep reading to find out more... “I’ve never accused anybody publicly of breaking into my house, and the only people who even know about a breaking are my close circle. Nobody knew because I don’t want everybody in my business,” he said. Khalid also denied allegations that he does cocaine and that he pays people to date him. “I’m gonna speak about the pink cocaine thing. I’ve never done cocaine a day in my life. I don’t place myself in those scenarios. I’m not in those surroundings,” he said. “I smoke weed. And I drink a little bit, but I’ve never done cocaine a day in my life, for real.” “Let’s talk about his escorting thing,” he continued. “I’ve never I’ve never paid for sex a day in my life, ever. I’ve never paid anybody to date me, I’ve never paid anybody to be in a relationship with me, ever.” Khalid said he hasn’t seen Hugo in years. “This is four years ago. Where is this coming from? You tell me, cause I really don’t know. The only reason I’m really clearing up any of this is because it’s just a little triggering seeing the few comments – it’s not that it’s a running narrative or anything like that — but it’s triggering seeing a few comments of people painting me as if I’m just some manipulative abuser. It’s just crazy to me,” Khalid said. Khalid also claimed the abuse “was the other way around, and that’s what hurts the most.” “All of this is definitely frustrating. I want all of this to be over just like y’all. It’s literally one of the main reasons why I don’t involve myself in any drama, why I stay out of the way. I don’t like this. So I”m not gonna run around like I’m unbothered. I never said I was unbothered. This is very bothering for real,” he said. Watch the full video below. Shared this on Instagram so I’m gonna share this here too. Thank you pic.twitter.com/i8mJIZsfAn — Khalid (@thegreatkhalid) November 25, 2024Shares of Chinese consumer -oriented names , , and rocketed higher on Monday, up 5.5%, 10.1%, and 21.9% as of noon ET. There was an across-the-board rally in Chinese stocks today, with the smaller, more economically sensitive stocks in the country rallying the most. This came after the country's Politburo met and made a dovish statement for more forceful and imminent stimulus. China is getting increasingly serious about stimulus On Monday, China's 24-member Politburo released a statement, declaring the government will have a more forceful fiscal response to the country's economic woes, and that the central bank will use a "moderately loose" monetary policy into next year. While that couched language might not scream "huge stimulus money," China's Politburo hasn't used that official language since 2008, during the Great Financial Crisis. Not only that, but the statement also came with other language vowing to be more "active" in responding to economic downturns and boosting consumer demand while stabilizing the housing market. China's downturn has been the result of the long "zero-COVID" lockdowns, the clampdown on the country's biggest tech companies, difficulties with foreign capital to get money in and out of the country, and perhaps most importantly, a big housing downturn that has decimated consumer confidence. Chinese consumers have a lot of their wealth tied up in their homes, so this has been a huge headwind to consumer demand. While Beijing had responded to the downturn somewhat this summer, most measures to date had been in the form of cuts and indirect actions, which might not have a big effect if consumers aren't willing to borrow. Some critics have decried a lack of more forceful direct fiscal responses and getting cash into the hands of consumers, while giving them the confidence to restart spending. This has been due to the government's unwillingness to take on larger deficits. However, the language in today's statement seems to suggest Beijing is now open to taking on those larger deficits to jolt the economy out of its slumber. How these stocks would benefit Better consumer spending and household wealth would benefit all three of these stocks. Tencent has a portfolio of products that span both consumer and enterprise customers, but its biggest segments are still consumer-oriented in free-to-play video games, the giant social media platform WeChat, and its digital financial payments platform Tenpay. Baidu, meanwhile, is the largest search platform in China, and is therefore dependent on the economically sensitive advertising market, while the company is also advancing AI and self-driving car technology. And Futu is an online financial brokerage that facilitates trading for stocks, derivatives, and other assets. A healthier Chinese consumer would theoretically invest and trade more. China stocks all clear? Not so fast While today's news was certainly encouraging, investors should still take care to be cautious of Chinese stocks. While all three stocks are still well below their 2021 highs, they have all had quite a run this year, as these names surged a huge amount following this summer's initial statements promising more aggressive stimulus. However, after the summer's surge, some investors had been disappointed in the actual follow-through since then, and there's still uncertainty as to how the government will follow through on today's statements. While today's announcements do indicate an incremental promise for a more forceful government response, China's lagging property sector, aging population, and likely higher tariffs on goods destined for the U.S. under the incoming Trump administration will be difficult to tackle all at once. However, for those willing to take on the significant geopolitical and policy risks, China's big tech and consumer companies still remain cheaper than their U.S. counterparts -- though that gap has narrowed quite a bit over the past few months.NEW YORK (AP) — U.S. stocks closed at more records after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street. The S&P 500 rose 0.6% to reach another all-time high. The Dow Jones Industrial Average added 0.3% to its own record set the day before, while the Nasdaq composite rose 0.6% as Big Tech stocks helped lead the way. Stock markets abroad saw mostly modest losses, after President-elect Trump said he plans to impose sweeping tariffs on Mexico, Canada and China as soon as he takes office. U.S. automakers and other companies that could be hurt particularly by such tariffs fell. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are rising toward records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.5% and was on track to top its all-time high set a couple weeks ago. The Dow Jones Industrial Average added 81 points, or 0.2%, to its own record set the day before, while the Nasdaq composite was 0.5% higher, with less than an hour remaining in trading. Stock markets abroad were down, but mostly only modestly, after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada's main index edged down by just 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. General Motors sank 8.2%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.9%. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support to the job market . While lower interest rates can boost the overall economy and prices for investments, they can also offer more fuel for inflation. “Many” officials at the Fed's last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. Unlike tariffs in Trump's first term, his proposal from Monday night would affect products across the board. Trump’s tariff talk came almost immediately after U.S. stocks rose Monday amid excitement about his pick for Treasury secretary, Scott Bessent. The hope was the hedge-fund manager could steer Trump away from policies that balloon the U.S. government deficit, which is how much more it spends than it takes in through taxes and other revenue. The talk about tariffs overshadowed another set of mixed profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates instituted by the Fed to get inflation under control. Kohl’s tumbled 17.6% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.7% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. J.M. Smucker jumped 5.4% for one of the biggest gains in the S&P 500 after topping analysts' expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 2.8% for Amazon and 2% for Microsoft were the two strongest forces lifting the S&P 500. In the bond market, Treasury yields rose following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury climbed to 4.30% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It's since dipped back toward $91,600, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.safari slot game online 。

Heritage Distilling Co. Announces Closing of its Initial Public OfferingNone

TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Rivalry Corp. (the " Company " or " Rivalry ") (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, is pleased to announce that it has closed the initial tranche of a non-brokered private placement of 12,930,707 units of the Company (the " Units "), at a price of $0.15 per Unit, for aggregate gross proceeds of approximately $1.94 million (the " Offering "). The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing) of up to approximately USD$3 million. Unless otherwise noted, all dollar figures are quoted in Canadian dollars. “This initial tranche of our non-brokered private placement was primarily subscribed to by insiders, family and friends, and long-term shareholders,” said Steven Salz, Co-Founder and CEO of Rivalry. “This commitment and demonstration of support is deeply gratifying as we press ahead into a new chapter for the Company.” Each Unit is comprised of one (1) subordinate voting share in the capital of the Company (each, a " Subordinate Voting Share ") and one-half of one (1/2) Subordinate Voting Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable into one Subordinate Voting Share in the capital of the Company (each, a " Warrant Share ") at a price of $0.25 per Warrant Share for a period of 12 months from the date hereof, subject to the Company's right to accelerate the expiry date of the Warrants upon 30 days' notice in the event that the closing price of the Subordinate Voting Shares is equal to or exceeds $0.50 on the TSX Venture Exchange (or such other recognized Canadian stock exchange as the Subordinate Voting Shares are primarily traded on) for a period of 10 consecutive trading days. The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes. The Subordinate Voting Shares and Warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation. The Company has paid an aggregate of $14,953.74 in finder's fees in connection with the closing of the first tranche of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. 1,333,300 Units were issued to Steven Isenberg, a director of the Company and a "related party" (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 ")) and such issuance is considered a "related party transaction" for the purposes of MI 61-101. Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company’s market capitalization. The purchasers of the Units and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions. About Rivalry Rivalry Corp. wholly owns and operates Rivalry Limited , a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet. Company Contact: Steven Salz, Co-founder & CEO ss@rivalry.com 416-565-4713 Investor Contact: investors@rivalry.com Media Contact: Cody Luongo, Head of Communications cody@rivalry.com 203-947-1936 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Information and Statements This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s MD&A dated April 30, 2024 and other disclosure documents available on SEDAR+ at www.sedarplus.ca. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Source: Rivalry Corp.Tom Aspinall details why one UFC legend ranks above Jon Jones in GOAT debate

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here . > Philadelphia news 24/7: Watch NBC10 free wherever you are Nvidia shares fall after China opens investigation Shares of artificial intelligence darling Nvidia were under pressure after a regulator in China said it was investigating the chipmaker over possible violations of the country's antimonopoly law. This investigation was in relation to Nvidia's 2020 acquisition of Israeli firm Mellanox and some agreements made during the acquisition, the Chinese government said Monday. Oracle falls after missing earnings forecast Oracle shares slid 7% in extended trading on Monday after the database software company reported fiscal second-quarter results that fell short of analysts' estimates and issued revenue guidance that was weaker-than-expected. Revenue during the September quarter came in at $14.06 billion, compared to the $14.1 billion expected, while earnings per share was at $1.47, compared to forecasts of $1.48. 26-year-old detained by police in connection with fatal shooting of UnitedHealthcare CEO University of Pennsylvania graduate Luigi Mangione was detained by police as a "strong person of interest" in the killing of UnitedHealthcare CEO Brian Thompson after police found him carrying a pistol, a silencer, a mask and fake identification cards. Mangione had in his possession a suspected "ghost gun" — which lacks a serial member — capable of firing 9 mm rounds, authorities said. Markets retreat from record highs The S&P 500 and Nasdaq Composite pulled back from record highs Monday, with tech shares lagging. The tech-heavy Nasdaq shed 0.62%, while the S&P fell 0.61%. The Dow Jones Industrial Average declined by 0.54%. Over in Europe, the pan-European Stoxx 600 closed higher for an eighth straight session, marking its longest winning streak since May. [PRO] Investing in mid-caps may be the way to go in 2025 Mid-cap stocks could be the sweet spot for investors in 2025, having been outperforming recently. Many investors expect further gains for mid-caps, which offer better quality businesses than small-caps, as well as stronger growth prospects than large-caps. Technology stocks have underpinned the impressive rally in US stocks this year. But they are not immune from the laws of gravity. Monday's session saw large technology stocks underperform the broader market. Oracle missed forecasts and AMD was downgraded by Bank of America . But perhaps the biggest news of the day concerned Nvidia, whose shares have surged an astounding 188% this year. China's State Administration for Market Regulation opened an investigation into the chipmaker in relation to the acquisition of Mellanox and some agreements made during the acquisition. The news prompted Nvidia's shares to fall 2.6% overnight. The development suggests that while the year is ending, the fight for tech dominance around the world may just be intensifying. Competition between the U.S. and China over chipmaking is rising, with the Biden administration on Dec. 2 announcing a slew of curbs targeting semiconductor toolmakers. China then retaliated by banning exports of critical minerals such as gallium, and on the same day, four of the country's top industry associations said Chinese companies should be wary of buying U.S. chips as they were "no longer safe" and buy locally instead. Previous trade skirmishes have centered on areas such as metals, farm products, and automobiles. With a tougher stance on China expected from the incoming Trump administration, could the next trade war instead be focused around chips, which arguably have permeated every facet of our lives? — CNBC's Samantha Subin contributed to this report.

President-elect Donald Trump has chosen health economist Dr. Jay Bhattacharya, a critic of pandemic lockdowns and vaccine mandates, to lead the National Institutes of Health, the nation's leading medical research agency. Trump, in a statement Tuesday evening, said Bhattacharya, a 56-year-old physician and professor at Stanford University School of Medicine, will work in cooperation with Robert F. Kennedy Jr., his pick to lead the Department of Health and Human Services, "to direct the Nation’s Medical Research, and to make important discoveries that will improve Health, and save lives.” “Together, Jay and RFK Jr. will restore the NIH to a Gold Standard of Medical Research as they examine the underlying causes of, and solutions to, America’s biggest Health challenges, including our Crisis of Chronic Illness and Disease," he wrote. The decision to choose Bhattacharya for the post is yet another reminder of the ongoing impact of the COVID pandemic on the politics on public health. Bhattacharya was one of three authors of the Great Barrington Declaration, an October 2020 open letter maintaining that lockdowns were causing irreparable harm. Get the latest breaking news as it happens. By clicking Sign up, you agree to our privacy policy . The document — which came before the availability of COVID-19 vaccines and during the first Trump administration — promoted “herd immunity,” the idea that people at low risk should live normally while building up immunity to COVID-19 through infection. Protection should focus instead on people at higher risk, the document said. “I think the lockdowns were the single biggest public health mistake,” Bhattacharya said in March 2021 during a panel discussion convened by Florida Gov. Ron DeSantis. The Great Barrington Declaration was embraced by some in the first Trump administration, even as it was widely denounced by disease experts. Then- NIH director Dr. Francis Collins called it dangerous and “not mainstream science.” His nomination would need to be approved by the Senate. Trump on Tuesday also announced that Jim O’Neill, a former HHS official, will serve as deputy secretary of the sprawling agency. Trump said O’Neill “will oversee all operations and improve Management, Transparency, and Accountability to, Make America Healthy Again,” the president-elect announced. O’Neill is the only one of Trump’s health picks so far who brings previous experience working inside the bureaucracy to the job. Trump’s previous choices to lead public health agencies — including Kennedy, Dr. Mehmet Oz for Centers for Medicare and Medicaid Services administrator and Dr. Marty Makary for Food and Drug Administration commissioner — have all been Washington outsiders who are vowing to shake up the agencies. Bhattacharya, who faced restrictions on social media platforms because of his views, was also a plaintiff in Murthy v. Missouri, a Supreme Court case contending that federal officials improperly suppressed conservative views on social media as part of their efforts to combat misinformation. The Supreme Court sided with the Biden administration in that case. After Elon Musk acquired Twitter in 2022, he invited Bhattacharya to the company's headquarters to learn more about how his views had been restricted on the platform, which Musk renamed X. More recently, Bhattacharya has posted on X about scientists leaving the site and joining the alternative site Bluesky, mocking Bluesky as "their own little echo chamber.” Bhattacharya has argued that vaccine mandates that barred unvaccinated people from activities and workplaces undermined Americans' trust in the public health system. He is a former research fellow at the Hoover Institution and an economist at the RAND Corporation. The National Institutes of Health falls under HHS, which Trump has nominated Kennedy to oversee. The NIH's $48 billion budget funds medical research on vaccines, cancer and other diseases through competitive grants to researchers at institutions across the nation. The agency also conducts its own research with thousands of scientists working at NIH labs in Bethesda, Maryland. Among advances that were supported by NIH money are a medication for opioid addiction, a vaccine to prevent cervical cancer, many new cancer drugs and the speedy development of mRNA COVID-19 vaccines.

It would be fair to say that as voters in last month’s presidential election were giving Republicans control of all three branches of the federal government, they were tacitly rejecting the left-leaning cultural values that California politicians constantly espouse. Republican Donald Trump’s campaign effectively weaponized Vice President Kamala Harris’ California roots in sweeping the battleground states, most notably in an ad featuring a video clip of her advocating sex-change surgery for transexual prison inmates. “Kamala is for they/them. Trump is for you,” the spot concludes. Post-election analysts, including the New York Times, have cited it as the single most effective ad of the campaign. Furthermore, the results also imply that the Harris campaign’s focus on abortion rights, another favorite theme of Gov. Gavin Newsom and other California political figures, didn’t help her. Voters in states that opted for Trump, including neighboring Nevada and Arizona, were primarily driven by economic issues, specifically inflation in living costs during the administration of Harris and President Joe Biden. Whether the administration was actually responsible for inflation is debatable, but also beside the point. When voters are dissatisfied with the status quo, for whatever reason, they often take it out on the party in power at the moment. Harris easily defeated Trump in California, as expected, to claim its 54 electoral votes, but the state was not immune to the issues that brought her downfall elsewhere, particularly the cost of living. California’s families must cope with arguably the highest prices for the necessities of life of any state — such things as housing, gasoline and electric power. Even commodities which should be less expensive in California, such as food, are costly because producing, packaging and selling them reflect the high expenses of suppliers. The cost of living is the major factor in California’s having the nation’s highest rate of functional poverty, 15.4%, as calculated by the Census Bureau. Using a similar methodology, the Public Policy Institute of California calculates that in 2023, 31.1% of Californians are living either in or near poverty. In the aftermath of the election, the Democrats who dominate all branches of state government have suddenly discovered that the cost of living is a burning issue that should be addressed. As the Legislature reconvened this week for its biennial session, its leaders said doing something about living costs will be a high priority. “Our constituents don’t feel the state of California is working for them,” Assembly Speaker Robert Rivas told colleagues as the session began. “That’s their lived experience in this moment. Our task this session is urgent and clear. We must chart a new path forward, and it begins by focusing on affordability. Related Articles Opinion Columnists | The draconian penalties that Hunter Biden escaped affect people whose fathers can’t save them Opinion Columnists | How California ranks as the most active political state Opinion Columnists | Donald Trump must replace Pete Hegseth with Ron DeSantis Opinion Columnists | Larry Elder: Biden breaks his promise and pardons his son Opinion Columnists | California’s unaccountable homeless industrial complex “California will always be America’s destination for dreams and opportunities,” he added. “But we need to consider every bill through the lens of Californians who are anxious about affordability. Specifically, we must focus on building more housing and lowering energy costs.” However there’s not a lot that Newsom and legislators can do to materially affect the cost of living. If anything, prices for one vital commodity, gasoline, will likely see a big jump because Newsom’s Air Resources Board has just ordered changes in fuel to lower greenhouse emissions. Republicans have been urging Newsom to set aside the decision, but he has defended it as a necessary element of California’s campaign to reduce hydrocarbon use. Moreover, electric power costs are increasing sharply as utilities bury power transmission lines to reduce their role in wildfires. California’s politicos are talking a good game about inflation, but whether they can and will deliver remains very uncertain. Dan Walters is a CalMatters columnist.

New Delhi: "If everything on earth were rational, nothing would happen."—Fyodor Dostoevsky Time: 5.30 pm, early May Place: Pitampura, north-west Delhi People wait anxiously in front of a roadside food cart. The long, long queue spills over from the pavement onto the street, leaving bikes, cars, cows and canines jostling for space on the narrow road. A few paces ahead, half a dozen vloggers are filming the cart and the surrounding chaos. Across the road, some more YouTubers are dishing out raucous ‘food reviews’ for their presumably famished audience. Some poor souls, tired of the long wait, are reluctantly trickling out of the line, but many more are queuing up animatedly, resulting in the congregation getting bigger (and noisier) with every passing minute. After about an hour of push-and-shove, you finally manage to get your hands on the Holy Grail. No, it was not some piece of gastronomic masterpiece whipped up on the streets of Delhi, but a humble vada pav with much to be humble about. The bread was soggy; the mint chutney lacked chutzpah; the mashed potato patty was an ode to mediocrity. The only exceptional feature of the snack was its high price. And, not to forget, the ‘viral’ photogenic lady who sold it to you with a devastating smile. Supply creating its own demand is a central tenet of classical economics. But if there is one force which is even more potent in creating demand, it is hype. Just look at what happened on Dalal Street this year. Jumping on the bandwagon In investing, very few activities can match the exhilaration of boarding a hype train. The thrill of momentum, micro-bursts of dopamine and a galloping portfolio make for a heady cocktail. But the most important part of this game is not boarding the train but knowing when to get off. Take the case of the top-performing stock group of 2024. With around 60% returns this year, the Nifty Index towers over every sectoral index as well as small and mid-cap peers. The standout script in the defence pack has been Cochin Shipyard, with year-to-date gains at a sizzling 130%. However, in the last six months, the stock has slumped 30%, teaching new trend chasers some very old lessons. Cochin Shipyard soared to its all-time high of 2,977 on 8 July this year. It is currently trading around half of that level. Retail euphoria and manic volatility have even led to the stock being placed under stage 4 of the additional surveillance measures (ASM) framework, which imposes a price band of 5% for the stock and raises the margin requirement of clients to 100%. The price band establishes the price range within which a stock can be traded, while the margin requirement is the amount of money an investor must deposit to take a position in a stock. This arc has played out in multiple pockets of the market this year, from mid-cap to micro-cap names. A stream of rah-rah articles on a sector/stock, leading to a feverish rally, leading to more investors piling into the counter, leading to an even more furious rally...until suddenly, the profit-taking catches people unawares. Then a sombre realization dawns—the exit door is not wide enough to accommodate everyone. And it is not that this herd behaviour is limited to newbie investors. A leading asset management company (AMC) launched a defence index fund in the middle of this year—at the height of the sector’s popularity. It raised over 1,600 crore, the highest-ever fund collection by an equity index fund during the new fund offer (NFO) period. The NFO saw participation by nearly 250,000 investors. The result? The fund’s net asset value (NAV, or the per-unit market value of all its investments minus its liabilities) is yet to reach its face value of 10 per unit. Take the case of another market darling of 2024— (PSUs). Companies like Oil India Ltd (OIL), Indian Railway Finance Corp. Ltd (IRFC) and Bharat Electronics Ltd (BEL) have provided stellar returns of 70-80% this year, but only to those investors who entered these names before the news cycle around PSUs peaked. If we look at the previous six-month returns, 18 of the 20 constituents of the Nifty PSE index are currently trading in the red. As ‘Big Bull’ Rakesh Jhunjhunwala used to say, in the stock market, it’s not important how long it takes; what matters is how long it lasts. Of course, this is not to say that these investments will never recover. Mutual funds, after all, are long-term products. And if price volatility makes you feel nauseous, perhaps stock investing is not your cup of tea. But the probability of ‘narrative’ scoring over ‘numbers’ is the highest during bull markets, which means investors’ ‘bullshit radar’ should be working overtime during this period. Many ‘narrative’ stocks have baked in phantasmagoric projections of revenues and profits. Even a slight miss on execution would be enough to collapse the pack of cards. As even a cursory glance at previous periods of euphoria would show, many ‘hot stocks’ never recovered at all (remember Unitech, RCom, HDIL, Manpasand Beverages, etc.?) And for short-term investors, Mr Market’s message is clear. If you really are itching to board a hype train, make sure to reach the platform early. Otherwise, it doesn’t take much time for the giddy train ride to turn into one-way skydiving. Sector watch One of the top sectoral performers of 2024 has been pharma, which has maintained its post-covid momentum. Strong earnings growth from pharmaceutical companies, combined with price-to-earnings (P/E) rerating, has made pharma one of the key themes that have played out successfully. There are two primary reasons why large players have performed well. “Firstly, the generic drug shortages in the US have created opportunities, and secondly, recent government regulations for compliance with Schedule M and Good Manufacturing Practice (GMP) have provided a competitive advantage. These factors have disproportionately benefited larger players," Sreeram Ramdas, vice president at Green Portfolio PMS, tells Mint. GMP standards, in short, aim to build quality into a product and was first incorporated in Schedule M of the Drugs and Cosmetics Rules, 1945, in 1988. Another notable segment has been manufacturing, fuelled by India’s strategic push to benefit from the China+1 supply chain relocation theme. “Electronic manufacturing and semiconductor industries also stood out, capitalizing on rising global demand. Infrastructure and power sectors experienced significant investments, driven by government-backed initiatives aimed to enhance economic infrastructure," says Gurpreet Sidana, chief executive officer, Religare Broking. Similarly, the capital goods sector benefited from the production-linked incentive (PLI) scheme, driving growth in industrials and engineering. Green energy took the centre-stage, with opportunities accelerating across solar, wind and electric vehicle (EV) ecosystems, while the residential real estate segment rebounded, propelled by growing demand for premium housing and increased urbanization, Sidana adds. Malthusian misadventures What do you think was the top-performing asset of 2024? Some micro-cap stock? Bitcoin? Real estate? It was actually tickets for ’s pan-India concerts. When the Punjabi singer announced his Dil-Luminati Tour, it set off an almost religious frenzy among fans. People rushed to book tickets online, but most were met with disappointment due to the deluge of demand. Which, in turn, set in motion the sordid second act of Malthusian scarcity—people reselling tickets in black. Tickets were offloaded for twice or thrice their original prices, sometimes even more, and that too within hours of the official sale window closing. How many financial assets can boast of such a craze? Something similar happened with British rock band Coldplay’s India concerts scheduled for January 2025. Even tickets priced at 35,000 were snapped up in minutes. Soon after, they were being offered on resale platforms for multiple lakhs. When this writer managed to attend Dosanjh’s Delhi show (thanks to passes arranged by a friend), he was surprised to see the rush in the stadium. Many groups of youngsters were delightfully discussing how they snapped up tickets for 50,000-60,000 apiece. And then, suddenly, mid-cap stocks trading at 100-PE or renewable energy stocks at 150-PE started to make some sense. The most powerful force in the market is not business models or profitability. It is liquidity. When a lot of money chases a limited supply of goods (stocks, apartments, tulips, concert tickets, etc.), old-fashioned notions of intrinsic value fall by the wayside and price is the only reality. Or, as market old-timers are fond of quipping, “bhav bhagwan che" (price is God). For Indian capital markets, the supply tap of liquidity has turned into a tidal wave. During the six years from FY16 to FY21, mutual funds, other domestic institutional investors (DIIs), and individuals net infused around 40,000 crore on average each year into the equity secondary market. Today, SIP (systematic investment plans) inflows alone stand at 25,000 crore per month, or around 3 trillion every year. Adding insurance companies, foreign investors, lumpsum investments and others would take the figure to an astounding 5 trillion or so. This far exceeds the roughly 2 trillion of annual primary market issuance spanning initial public offering (IPOs), follow-on public offering (FPOs), preferential allotments, rights issue and others. It is this demand-supply gulf which is fuelling the market’s flirtation with the stratosphere. The only hitch is that like most affairs, one party is having way more fun than the other. Casino nation When the financial history of 2024 will be written, one of the biggest chapters could be the institutionalization of a gambling industry phrase—the house always wins. With gambling prohibited in the country, domestic retail investors have taken to derivatives trading with a ferocity which would make medieval princelings blush. India is not only the largest derivatives market in the world but is also chiefly retail investor-driven. As per a recent study by the Securities and Exchange Board of India (Sebi), 99.8% of total traders in the equity future and options (F&O) segment are individuals. Their track record, however, makes for doleful reading. Some 93% of over 10 million individual F&O traders, on average, lost 2 lakh each ( 1.8 trillion in aggregate), inclusive of transaction charges, in the three years through FY24. Over 75% of these traders declared an annual income of less than 5 lakh in FY24. More than 75% of loss-makers continued . Have domestic investors become the poster boys of irrational exuberance? “Market participants are chasing short-term returns with great fervour. Beyond F&O, the volumes on Indian crypto exchanges have increased nearly 4–5x, reflecting the short-sighted behaviour of market participants. In early 2024, many individual investors we spoke to were heavily inclined toward defence and PSU stocks. Now, many of these stocks have declined by 50–60% within just six months," Green Portfolio’s Ramdas notes. “Due to recency bias, new investors tend to extrapolate recent market performance into the future, often overlooking the valuations at which they are buying a stock. It is entirely acceptable to buy a stock at 60–70x P/E—as a fund, we do that too—but the potential future performance must justify such valuations," he adds. Happy New Year? With almost 13% returns year-to-date, 2024 is the ninth straight year of the . What are the chances that the momentum will continue next year as well? Religare Broking’s Sidana feels that while volatility may persist early in 2025, particularly in mid-January due to union budget expectations and ongoing global uncertainties, India’s outlook remains robust. “The economy is projected to grow at a steady 6.1% over the next five years, driven by key sectoral contributions from manufacturing, digital transformation, and renewable energy," he says. Some voices, however, are striking a note of caution. Uncertainty and potential polarization resulting from looming changes and geopolitical uncertainty globally are likely to induce bouts of volatility in the domestic market, Anil Rego, founder and fund manager at Right Horizons PMS, tells . Inflation continues to be sticky. Growth in gross domestic product (GDP) moderated in the first half of FY25, though the outlook for the next two quarters is brighter. “We believe the future of equity market gains rely on companies’ ability to deliver strong and healthy profit growth. Looking ahead, we believe demand will play a pivotal role in driving earnings. However, the demand outlook remains subdued due to an uncertain global recovery, sluggish household incomes, declining consumption credit, and a slowdown in capital expenditure among BSE500 companies," he points out. Overall, the gap between profit and revenue in FY24, which had been widening, is now starting to narrow. In the first half of FY25, there was a slowdown in profit in the high-growth sectors of FY24. “Sector-wise, the slowdown is most noticeable in domestically focused industries such as autos, consumer services, paints, and cement. Moderation in earnings will likely impact the markets if the consensus estimates a higher earnings growth," Rego notes. For a market so used to a steady supply of overpriced and overhyped vada pavs, this could be a bitter pill to swallow.LaVine, Dosunmu and White power the Bulls to a 136-122 win over the Hawks

Khalid is speaking out in response to allegations made by his ex-boyfriend Hugo Almonte , who allegedly was the person who outed the singer as gay. The 26-year-old “Young Dumb & Broke” singer came out as gay last week in a series of tweets after Hugo wrote about their relationship in since-deleted posts. Hugo claimed that Khalid “lied and said that I broke into his house,” according to Rolling Stone . Hugo told the outlet that he didn’t mean to out anyone and he meant to “share how [Khalid] tried to use his power to silence me because I simply ended our relationship.” Khalid posted a video on social media on Monday (November 25) in response to some of Hugo ‘s allegations. Keep reading to find out more... “I’ve never accused anybody publicly of breaking into my house, and the only people who even know about a breaking are my close circle. Nobody knew because I don’t want everybody in my business,” he said. Khalid also denied allegations that he does cocaine and that he pays people to date him. “I’m gonna speak about the pink cocaine thing. I’ve never done cocaine a day in my life. I don’t place myself in those scenarios. I’m not in those surroundings,” he said. “I smoke weed. And I drink a little bit, but I’ve never done cocaine a day in my life, for real.” “Let’s talk about his escorting thing,” he continued. “I’ve never I’ve never paid for sex a day in my life, ever. I’ve never paid anybody to date me, I’ve never paid anybody to be in a relationship with me, ever.” Khalid said he hasn’t seen Hugo in years. “This is four years ago. Where is this coming from? You tell me, cause I really don’t know. The only reason I’m really clearing up any of this is because it’s just a little triggering seeing the few comments – it’s not that it’s a running narrative or anything like that — but it’s triggering seeing a few comments of people painting me as if I’m just some manipulative abuser. It’s just crazy to me,” Khalid said. Khalid also claimed the abuse “was the other way around, and that’s what hurts the most.” “All of this is definitely frustrating. I want all of this to be over just like y’all. It’s literally one of the main reasons why I don’t involve myself in any drama, why I stay out of the way. I don’t like this. So I”m not gonna run around like I’m unbothered. I never said I was unbothered. This is very bothering for real,” he said. Watch the full video below. Shared this on Instagram so I’m gonna share this here too. Thank you pic.twitter.com/i8mJIZsfAn — Khalid (@thegreatkhalid) November 25, 2024Shares of Chinese consumer -oriented names , , and rocketed higher on Monday, up 5.5%, 10.1%, and 21.9% as of noon ET. There was an across-the-board rally in Chinese stocks today, with the smaller, more economically sensitive stocks in the country rallying the most. This came after the country's Politburo met and made a dovish statement for more forceful and imminent stimulus. China is getting increasingly serious about stimulus On Monday, China's 24-member Politburo released a statement, declaring the government will have a more forceful fiscal response to the country's economic woes, and that the central bank will use a "moderately loose" monetary policy into next year. While that couched language might not scream "huge stimulus money," China's Politburo hasn't used that official language since 2008, during the Great Financial Crisis. Not only that, but the statement also came with other language vowing to be more "active" in responding to economic downturns and boosting consumer demand while stabilizing the housing market. China's downturn has been the result of the long "zero-COVID" lockdowns, the clampdown on the country's biggest tech companies, difficulties with foreign capital to get money in and out of the country, and perhaps most importantly, a big housing downturn that has decimated consumer confidence. Chinese consumers have a lot of their wealth tied up in their homes, so this has been a huge headwind to consumer demand. While Beijing had responded to the downturn somewhat this summer, most measures to date had been in the form of cuts and indirect actions, which might not have a big effect if consumers aren't willing to borrow. Some critics have decried a lack of more forceful direct fiscal responses and getting cash into the hands of consumers, while giving them the confidence to restart spending. This has been due to the government's unwillingness to take on larger deficits. However, the language in today's statement seems to suggest Beijing is now open to taking on those larger deficits to jolt the economy out of its slumber. How these stocks would benefit Better consumer spending and household wealth would benefit all three of these stocks. Tencent has a portfolio of products that span both consumer and enterprise customers, but its biggest segments are still consumer-oriented in free-to-play video games, the giant social media platform WeChat, and its digital financial payments platform Tenpay. Baidu, meanwhile, is the largest search platform in China, and is therefore dependent on the economically sensitive advertising market, while the company is also advancing AI and self-driving car technology. And Futu is an online financial brokerage that facilitates trading for stocks, derivatives, and other assets. A healthier Chinese consumer would theoretically invest and trade more. China stocks all clear? Not so fast While today's news was certainly encouraging, investors should still take care to be cautious of Chinese stocks. While all three stocks are still well below their 2021 highs, they have all had quite a run this year, as these names surged a huge amount following this summer's initial statements promising more aggressive stimulus. However, after the summer's surge, some investors had been disappointed in the actual follow-through since then, and there's still uncertainty as to how the government will follow through on today's statements. While today's announcements do indicate an incremental promise for a more forceful government response, China's lagging property sector, aging population, and likely higher tariffs on goods destined for the U.S. under the incoming Trump administration will be difficult to tackle all at once. However, for those willing to take on the significant geopolitical and policy risks, China's big tech and consumer companies still remain cheaper than their U.S. counterparts -- though that gap has narrowed quite a bit over the past few months.NEW YORK (AP) — U.S. stocks closed at more records after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street. The S&P 500 rose 0.6% to reach another all-time high. The Dow Jones Industrial Average added 0.3% to its own record set the day before, while the Nasdaq composite rose 0.6% as Big Tech stocks helped lead the way. Stock markets abroad saw mostly modest losses, after President-elect Trump said he plans to impose sweeping tariffs on Mexico, Canada and China as soon as he takes office. U.S. automakers and other companies that could be hurt particularly by such tariffs fell. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are rising toward records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.5% and was on track to top its all-time high set a couple weeks ago. The Dow Jones Industrial Average added 81 points, or 0.2%, to its own record set the day before, while the Nasdaq composite was 0.5% higher, with less than an hour remaining in trading. Stock markets abroad were down, but mostly only modestly, after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada's main index edged down by just 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. General Motors sank 8.2%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.9%. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support to the job market . While lower interest rates can boost the overall economy and prices for investments, they can also offer more fuel for inflation. “Many” officials at the Fed's last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. Unlike tariffs in Trump's first term, his proposal from Monday night would affect products across the board. Trump’s tariff talk came almost immediately after U.S. stocks rose Monday amid excitement about his pick for Treasury secretary, Scott Bessent. The hope was the hedge-fund manager could steer Trump away from policies that balloon the U.S. government deficit, which is how much more it spends than it takes in through taxes and other revenue. The talk about tariffs overshadowed another set of mixed profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates instituted by the Fed to get inflation under control. Kohl’s tumbled 17.6% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.7% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. J.M. Smucker jumped 5.4% for one of the biggest gains in the S&P 500 after topping analysts' expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 2.8% for Amazon and 2% for Microsoft were the two strongest forces lifting the S&P 500. In the bond market, Treasury yields rose following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury climbed to 4.30% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It's since dipped back toward $91,600, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.safari slot game online 。

Heritage Distilling Co. Announces Closing of its Initial Public OfferingNone

TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Rivalry Corp. (the " Company " or " Rivalry ") (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, is pleased to announce that it has closed the initial tranche of a non-brokered private placement of 12,930,707 units of the Company (the " Units "), at a price of $0.15 per Unit, for aggregate gross proceeds of approximately $1.94 million (the " Offering "). The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing) of up to approximately USD$3 million. Unless otherwise noted, all dollar figures are quoted in Canadian dollars. “This initial tranche of our non-brokered private placement was primarily subscribed to by insiders, family and friends, and long-term shareholders,” said Steven Salz, Co-Founder and CEO of Rivalry. “This commitment and demonstration of support is deeply gratifying as we press ahead into a new chapter for the Company.” Each Unit is comprised of one (1) subordinate voting share in the capital of the Company (each, a " Subordinate Voting Share ") and one-half of one (1/2) Subordinate Voting Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable into one Subordinate Voting Share in the capital of the Company (each, a " Warrant Share ") at a price of $0.25 per Warrant Share for a period of 12 months from the date hereof, subject to the Company's right to accelerate the expiry date of the Warrants upon 30 days' notice in the event that the closing price of the Subordinate Voting Shares is equal to or exceeds $0.50 on the TSX Venture Exchange (or such other recognized Canadian stock exchange as the Subordinate Voting Shares are primarily traded on) for a period of 10 consecutive trading days. The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes. The Subordinate Voting Shares and Warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation. The Company has paid an aggregate of $14,953.74 in finder's fees in connection with the closing of the first tranche of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. 1,333,300 Units were issued to Steven Isenberg, a director of the Company and a "related party" (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 ")) and such issuance is considered a "related party transaction" for the purposes of MI 61-101. Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company’s market capitalization. The purchasers of the Units and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions. About Rivalry Rivalry Corp. wholly owns and operates Rivalry Limited , a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet. Company Contact: Steven Salz, Co-founder & CEO ss@rivalry.com 416-565-4713 Investor Contact: investors@rivalry.com Media Contact: Cody Luongo, Head of Communications cody@rivalry.com 203-947-1936 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Information and Statements This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s MD&A dated April 30, 2024 and other disclosure documents available on SEDAR+ at www.sedarplus.ca. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Source: Rivalry Corp.Tom Aspinall details why one UFC legend ranks above Jon Jones in GOAT debate

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here . > Philadelphia news 24/7: Watch NBC10 free wherever you are Nvidia shares fall after China opens investigation Shares of artificial intelligence darling Nvidia were under pressure after a regulator in China said it was investigating the chipmaker over possible violations of the country's antimonopoly law. This investigation was in relation to Nvidia's 2020 acquisition of Israeli firm Mellanox and some agreements made during the acquisition, the Chinese government said Monday. Oracle falls after missing earnings forecast Oracle shares slid 7% in extended trading on Monday after the database software company reported fiscal second-quarter results that fell short of analysts' estimates and issued revenue guidance that was weaker-than-expected. Revenue during the September quarter came in at $14.06 billion, compared to the $14.1 billion expected, while earnings per share was at $1.47, compared to forecasts of $1.48. 26-year-old detained by police in connection with fatal shooting of UnitedHealthcare CEO University of Pennsylvania graduate Luigi Mangione was detained by police as a "strong person of interest" in the killing of UnitedHealthcare CEO Brian Thompson after police found him carrying a pistol, a silencer, a mask and fake identification cards. Mangione had in his possession a suspected "ghost gun" — which lacks a serial member — capable of firing 9 mm rounds, authorities said. Markets retreat from record highs The S&P 500 and Nasdaq Composite pulled back from record highs Monday, with tech shares lagging. The tech-heavy Nasdaq shed 0.62%, while the S&P fell 0.61%. The Dow Jones Industrial Average declined by 0.54%. Over in Europe, the pan-European Stoxx 600 closed higher for an eighth straight session, marking its longest winning streak since May. [PRO] Investing in mid-caps may be the way to go in 2025 Mid-cap stocks could be the sweet spot for investors in 2025, having been outperforming recently. Many investors expect further gains for mid-caps, which offer better quality businesses than small-caps, as well as stronger growth prospects than large-caps. Technology stocks have underpinned the impressive rally in US stocks this year. But they are not immune from the laws of gravity. Monday's session saw large technology stocks underperform the broader market. Oracle missed forecasts and AMD was downgraded by Bank of America . But perhaps the biggest news of the day concerned Nvidia, whose shares have surged an astounding 188% this year. China's State Administration for Market Regulation opened an investigation into the chipmaker in relation to the acquisition of Mellanox and some agreements made during the acquisition. The news prompted Nvidia's shares to fall 2.6% overnight. The development suggests that while the year is ending, the fight for tech dominance around the world may just be intensifying. Competition between the U.S. and China over chipmaking is rising, with the Biden administration on Dec. 2 announcing a slew of curbs targeting semiconductor toolmakers. China then retaliated by banning exports of critical minerals such as gallium, and on the same day, four of the country's top industry associations said Chinese companies should be wary of buying U.S. chips as they were "no longer safe" and buy locally instead. Previous trade skirmishes have centered on areas such as metals, farm products, and automobiles. With a tougher stance on China expected from the incoming Trump administration, could the next trade war instead be focused around chips, which arguably have permeated every facet of our lives? — CNBC's Samantha Subin contributed to this report.

President-elect Donald Trump has chosen health economist Dr. Jay Bhattacharya, a critic of pandemic lockdowns and vaccine mandates, to lead the National Institutes of Health, the nation's leading medical research agency. Trump, in a statement Tuesday evening, said Bhattacharya, a 56-year-old physician and professor at Stanford University School of Medicine, will work in cooperation with Robert F. Kennedy Jr., his pick to lead the Department of Health and Human Services, "to direct the Nation’s Medical Research, and to make important discoveries that will improve Health, and save lives.” “Together, Jay and RFK Jr. will restore the NIH to a Gold Standard of Medical Research as they examine the underlying causes of, and solutions to, America’s biggest Health challenges, including our Crisis of Chronic Illness and Disease," he wrote. The decision to choose Bhattacharya for the post is yet another reminder of the ongoing impact of the COVID pandemic on the politics on public health. Bhattacharya was one of three authors of the Great Barrington Declaration, an October 2020 open letter maintaining that lockdowns were causing irreparable harm. Get the latest breaking news as it happens. By clicking Sign up, you agree to our privacy policy . The document — which came before the availability of COVID-19 vaccines and during the first Trump administration — promoted “herd immunity,” the idea that people at low risk should live normally while building up immunity to COVID-19 through infection. Protection should focus instead on people at higher risk, the document said. “I think the lockdowns were the single biggest public health mistake,” Bhattacharya said in March 2021 during a panel discussion convened by Florida Gov. Ron DeSantis. The Great Barrington Declaration was embraced by some in the first Trump administration, even as it was widely denounced by disease experts. Then- NIH director Dr. Francis Collins called it dangerous and “not mainstream science.” His nomination would need to be approved by the Senate. Trump on Tuesday also announced that Jim O’Neill, a former HHS official, will serve as deputy secretary of the sprawling agency. Trump said O’Neill “will oversee all operations and improve Management, Transparency, and Accountability to, Make America Healthy Again,” the president-elect announced. O’Neill is the only one of Trump’s health picks so far who brings previous experience working inside the bureaucracy to the job. Trump’s previous choices to lead public health agencies — including Kennedy, Dr. Mehmet Oz for Centers for Medicare and Medicaid Services administrator and Dr. Marty Makary for Food and Drug Administration commissioner — have all been Washington outsiders who are vowing to shake up the agencies. Bhattacharya, who faced restrictions on social media platforms because of his views, was also a plaintiff in Murthy v. Missouri, a Supreme Court case contending that federal officials improperly suppressed conservative views on social media as part of their efforts to combat misinformation. The Supreme Court sided with the Biden administration in that case. After Elon Musk acquired Twitter in 2022, he invited Bhattacharya to the company's headquarters to learn more about how his views had been restricted on the platform, which Musk renamed X. More recently, Bhattacharya has posted on X about scientists leaving the site and joining the alternative site Bluesky, mocking Bluesky as "their own little echo chamber.” Bhattacharya has argued that vaccine mandates that barred unvaccinated people from activities and workplaces undermined Americans' trust in the public health system. He is a former research fellow at the Hoover Institution and an economist at the RAND Corporation. The National Institutes of Health falls under HHS, which Trump has nominated Kennedy to oversee. The NIH's $48 billion budget funds medical research on vaccines, cancer and other diseases through competitive grants to researchers at institutions across the nation. The agency also conducts its own research with thousands of scientists working at NIH labs in Bethesda, Maryland. Among advances that were supported by NIH money are a medication for opioid addiction, a vaccine to prevent cervical cancer, many new cancer drugs and the speedy development of mRNA COVID-19 vaccines.

It would be fair to say that as voters in last month’s presidential election were giving Republicans control of all three branches of the federal government, they were tacitly rejecting the left-leaning cultural values that California politicians constantly espouse. Republican Donald Trump’s campaign effectively weaponized Vice President Kamala Harris’ California roots in sweeping the battleground states, most notably in an ad featuring a video clip of her advocating sex-change surgery for transexual prison inmates. “Kamala is for they/them. Trump is for you,” the spot concludes. Post-election analysts, including the New York Times, have cited it as the single most effective ad of the campaign. Furthermore, the results also imply that the Harris campaign’s focus on abortion rights, another favorite theme of Gov. Gavin Newsom and other California political figures, didn’t help her. Voters in states that opted for Trump, including neighboring Nevada and Arizona, were primarily driven by economic issues, specifically inflation in living costs during the administration of Harris and President Joe Biden. Whether the administration was actually responsible for inflation is debatable, but also beside the point. When voters are dissatisfied with the status quo, for whatever reason, they often take it out on the party in power at the moment. Harris easily defeated Trump in California, as expected, to claim its 54 electoral votes, but the state was not immune to the issues that brought her downfall elsewhere, particularly the cost of living. California’s families must cope with arguably the highest prices for the necessities of life of any state — such things as housing, gasoline and electric power. Even commodities which should be less expensive in California, such as food, are costly because producing, packaging and selling them reflect the high expenses of suppliers. The cost of living is the major factor in California’s having the nation’s highest rate of functional poverty, 15.4%, as calculated by the Census Bureau. Using a similar methodology, the Public Policy Institute of California calculates that in 2023, 31.1% of Californians are living either in or near poverty. In the aftermath of the election, the Democrats who dominate all branches of state government have suddenly discovered that the cost of living is a burning issue that should be addressed. As the Legislature reconvened this week for its biennial session, its leaders said doing something about living costs will be a high priority. “Our constituents don’t feel the state of California is working for them,” Assembly Speaker Robert Rivas told colleagues as the session began. “That’s their lived experience in this moment. Our task this session is urgent and clear. We must chart a new path forward, and it begins by focusing on affordability. Related Articles Opinion Columnists | The draconian penalties that Hunter Biden escaped affect people whose fathers can’t save them Opinion Columnists | How California ranks as the most active political state Opinion Columnists | Donald Trump must replace Pete Hegseth with Ron DeSantis Opinion Columnists | Larry Elder: Biden breaks his promise and pardons his son Opinion Columnists | California’s unaccountable homeless industrial complex “California will always be America’s destination for dreams and opportunities,” he added. “But we need to consider every bill through the lens of Californians who are anxious about affordability. Specifically, we must focus on building more housing and lowering energy costs.” However there’s not a lot that Newsom and legislators can do to materially affect the cost of living. If anything, prices for one vital commodity, gasoline, will likely see a big jump because Newsom’s Air Resources Board has just ordered changes in fuel to lower greenhouse emissions. Republicans have been urging Newsom to set aside the decision, but he has defended it as a necessary element of California’s campaign to reduce hydrocarbon use. Moreover, electric power costs are increasing sharply as utilities bury power transmission lines to reduce their role in wildfires. California’s politicos are talking a good game about inflation, but whether they can and will deliver remains very uncertain. Dan Walters is a CalMatters columnist.

New Delhi: "If everything on earth were rational, nothing would happen."—Fyodor Dostoevsky Time: 5.30 pm, early May Place: Pitampura, north-west Delhi People wait anxiously in front of a roadside food cart. The long, long queue spills over from the pavement onto the street, leaving bikes, cars, cows and canines jostling for space on the narrow road. A few paces ahead, half a dozen vloggers are filming the cart and the surrounding chaos. Across the road, some more YouTubers are dishing out raucous ‘food reviews’ for their presumably famished audience. Some poor souls, tired of the long wait, are reluctantly trickling out of the line, but many more are queuing up animatedly, resulting in the congregation getting bigger (and noisier) with every passing minute. After about an hour of push-and-shove, you finally manage to get your hands on the Holy Grail. No, it was not some piece of gastronomic masterpiece whipped up on the streets of Delhi, but a humble vada pav with much to be humble about. The bread was soggy; the mint chutney lacked chutzpah; the mashed potato patty was an ode to mediocrity. The only exceptional feature of the snack was its high price. And, not to forget, the ‘viral’ photogenic lady who sold it to you with a devastating smile. Supply creating its own demand is a central tenet of classical economics. But if there is one force which is even more potent in creating demand, it is hype. Just look at what happened on Dalal Street this year. Jumping on the bandwagon In investing, very few activities can match the exhilaration of boarding a hype train. The thrill of momentum, micro-bursts of dopamine and a galloping portfolio make for a heady cocktail. But the most important part of this game is not boarding the train but knowing when to get off. Take the case of the top-performing stock group of 2024. With around 60% returns this year, the Nifty Index towers over every sectoral index as well as small and mid-cap peers. The standout script in the defence pack has been Cochin Shipyard, with year-to-date gains at a sizzling 130%. However, in the last six months, the stock has slumped 30%, teaching new trend chasers some very old lessons. Cochin Shipyard soared to its all-time high of 2,977 on 8 July this year. It is currently trading around half of that level. Retail euphoria and manic volatility have even led to the stock being placed under stage 4 of the additional surveillance measures (ASM) framework, which imposes a price band of 5% for the stock and raises the margin requirement of clients to 100%. The price band establishes the price range within which a stock can be traded, while the margin requirement is the amount of money an investor must deposit to take a position in a stock. This arc has played out in multiple pockets of the market this year, from mid-cap to micro-cap names. A stream of rah-rah articles on a sector/stock, leading to a feverish rally, leading to more investors piling into the counter, leading to an even more furious rally...until suddenly, the profit-taking catches people unawares. Then a sombre realization dawns—the exit door is not wide enough to accommodate everyone. And it is not that this herd behaviour is limited to newbie investors. A leading asset management company (AMC) launched a defence index fund in the middle of this year—at the height of the sector’s popularity. It raised over 1,600 crore, the highest-ever fund collection by an equity index fund during the new fund offer (NFO) period. The NFO saw participation by nearly 250,000 investors. The result? The fund’s net asset value (NAV, or the per-unit market value of all its investments minus its liabilities) is yet to reach its face value of 10 per unit. Take the case of another market darling of 2024— (PSUs). Companies like Oil India Ltd (OIL), Indian Railway Finance Corp. Ltd (IRFC) and Bharat Electronics Ltd (BEL) have provided stellar returns of 70-80% this year, but only to those investors who entered these names before the news cycle around PSUs peaked. If we look at the previous six-month returns, 18 of the 20 constituents of the Nifty PSE index are currently trading in the red. As ‘Big Bull’ Rakesh Jhunjhunwala used to say, in the stock market, it’s not important how long it takes; what matters is how long it lasts. Of course, this is not to say that these investments will never recover. Mutual funds, after all, are long-term products. And if price volatility makes you feel nauseous, perhaps stock investing is not your cup of tea. But the probability of ‘narrative’ scoring over ‘numbers’ is the highest during bull markets, which means investors’ ‘bullshit radar’ should be working overtime during this period. Many ‘narrative’ stocks have baked in phantasmagoric projections of revenues and profits. Even a slight miss on execution would be enough to collapse the pack of cards. As even a cursory glance at previous periods of euphoria would show, many ‘hot stocks’ never recovered at all (remember Unitech, RCom, HDIL, Manpasand Beverages, etc.?) And for short-term investors, Mr Market’s message is clear. If you really are itching to board a hype train, make sure to reach the platform early. Otherwise, it doesn’t take much time for the giddy train ride to turn into one-way skydiving. Sector watch One of the top sectoral performers of 2024 has been pharma, which has maintained its post-covid momentum. Strong earnings growth from pharmaceutical companies, combined with price-to-earnings (P/E) rerating, has made pharma one of the key themes that have played out successfully. There are two primary reasons why large players have performed well. “Firstly, the generic drug shortages in the US have created opportunities, and secondly, recent government regulations for compliance with Schedule M and Good Manufacturing Practice (GMP) have provided a competitive advantage. These factors have disproportionately benefited larger players," Sreeram Ramdas, vice president at Green Portfolio PMS, tells Mint. GMP standards, in short, aim to build quality into a product and was first incorporated in Schedule M of the Drugs and Cosmetics Rules, 1945, in 1988. Another notable segment has been manufacturing, fuelled by India’s strategic push to benefit from the China+1 supply chain relocation theme. “Electronic manufacturing and semiconductor industries also stood out, capitalizing on rising global demand. Infrastructure and power sectors experienced significant investments, driven by government-backed initiatives aimed to enhance economic infrastructure," says Gurpreet Sidana, chief executive officer, Religare Broking. Similarly, the capital goods sector benefited from the production-linked incentive (PLI) scheme, driving growth in industrials and engineering. Green energy took the centre-stage, with opportunities accelerating across solar, wind and electric vehicle (EV) ecosystems, while the residential real estate segment rebounded, propelled by growing demand for premium housing and increased urbanization, Sidana adds. Malthusian misadventures What do you think was the top-performing asset of 2024? Some micro-cap stock? Bitcoin? Real estate? It was actually tickets for ’s pan-India concerts. When the Punjabi singer announced his Dil-Luminati Tour, it set off an almost religious frenzy among fans. People rushed to book tickets online, but most were met with disappointment due to the deluge of demand. Which, in turn, set in motion the sordid second act of Malthusian scarcity—people reselling tickets in black. Tickets were offloaded for twice or thrice their original prices, sometimes even more, and that too within hours of the official sale window closing. How many financial assets can boast of such a craze? Something similar happened with British rock band Coldplay’s India concerts scheduled for January 2025. Even tickets priced at 35,000 were snapped up in minutes. Soon after, they were being offered on resale platforms for multiple lakhs. When this writer managed to attend Dosanjh’s Delhi show (thanks to passes arranged by a friend), he was surprised to see the rush in the stadium. Many groups of youngsters were delightfully discussing how they snapped up tickets for 50,000-60,000 apiece. And then, suddenly, mid-cap stocks trading at 100-PE or renewable energy stocks at 150-PE started to make some sense. The most powerful force in the market is not business models or profitability. It is liquidity. When a lot of money chases a limited supply of goods (stocks, apartments, tulips, concert tickets, etc.), old-fashioned notions of intrinsic value fall by the wayside and price is the only reality. Or, as market old-timers are fond of quipping, “bhav bhagwan che" (price is God). For Indian capital markets, the supply tap of liquidity has turned into a tidal wave. During the six years from FY16 to FY21, mutual funds, other domestic institutional investors (DIIs), and individuals net infused around 40,000 crore on average each year into the equity secondary market. Today, SIP (systematic investment plans) inflows alone stand at 25,000 crore per month, or around 3 trillion every year. Adding insurance companies, foreign investors, lumpsum investments and others would take the figure to an astounding 5 trillion or so. This far exceeds the roughly 2 trillion of annual primary market issuance spanning initial public offering (IPOs), follow-on public offering (FPOs), preferential allotments, rights issue and others. It is this demand-supply gulf which is fuelling the market’s flirtation with the stratosphere. The only hitch is that like most affairs, one party is having way more fun than the other. Casino nation When the financial history of 2024 will be written, one of the biggest chapters could be the institutionalization of a gambling industry phrase—the house always wins. With gambling prohibited in the country, domestic retail investors have taken to derivatives trading with a ferocity which would make medieval princelings blush. India is not only the largest derivatives market in the world but is also chiefly retail investor-driven. As per a recent study by the Securities and Exchange Board of India (Sebi), 99.8% of total traders in the equity future and options (F&O) segment are individuals. Their track record, however, makes for doleful reading. Some 93% of over 10 million individual F&O traders, on average, lost 2 lakh each ( 1.8 trillion in aggregate), inclusive of transaction charges, in the three years through FY24. Over 75% of these traders declared an annual income of less than 5 lakh in FY24. More than 75% of loss-makers continued . Have domestic investors become the poster boys of irrational exuberance? “Market participants are chasing short-term returns with great fervour. Beyond F&O, the volumes on Indian crypto exchanges have increased nearly 4–5x, reflecting the short-sighted behaviour of market participants. In early 2024, many individual investors we spoke to were heavily inclined toward defence and PSU stocks. Now, many of these stocks have declined by 50–60% within just six months," Green Portfolio’s Ramdas notes. “Due to recency bias, new investors tend to extrapolate recent market performance into the future, often overlooking the valuations at which they are buying a stock. It is entirely acceptable to buy a stock at 60–70x P/E—as a fund, we do that too—but the potential future performance must justify such valuations," he adds. Happy New Year? With almost 13% returns year-to-date, 2024 is the ninth straight year of the . What are the chances that the momentum will continue next year as well? Religare Broking’s Sidana feels that while volatility may persist early in 2025, particularly in mid-January due to union budget expectations and ongoing global uncertainties, India’s outlook remains robust. “The economy is projected to grow at a steady 6.1% over the next five years, driven by key sectoral contributions from manufacturing, digital transformation, and renewable energy," he says. Some voices, however, are striking a note of caution. Uncertainty and potential polarization resulting from looming changes and geopolitical uncertainty globally are likely to induce bouts of volatility in the domestic market, Anil Rego, founder and fund manager at Right Horizons PMS, tells . Inflation continues to be sticky. Growth in gross domestic product (GDP) moderated in the first half of FY25, though the outlook for the next two quarters is brighter. “We believe the future of equity market gains rely on companies’ ability to deliver strong and healthy profit growth. Looking ahead, we believe demand will play a pivotal role in driving earnings. However, the demand outlook remains subdued due to an uncertain global recovery, sluggish household incomes, declining consumption credit, and a slowdown in capital expenditure among BSE500 companies," he points out. Overall, the gap between profit and revenue in FY24, which had been widening, is now starting to narrow. In the first half of FY25, there was a slowdown in profit in the high-growth sectors of FY24. “Sector-wise, the slowdown is most noticeable in domestically focused industries such as autos, consumer services, paints, and cement. Moderation in earnings will likely impact the markets if the consensus estimates a higher earnings growth," Rego notes. For a market so used to a steady supply of overpriced and overhyped vada pavs, this could be a bitter pill to swallow.LaVine, Dosunmu and White power the Bulls to a 136-122 win over the Hawks

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