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Arsenal thumped Manchester United 2-0 at home in matchweek 14 of the Premier League 2024-25 season at the Emirates. The defeat meant Manchester United's new manager Ruben Amorim suffered his first loss in English football. The winning goals came from defenders Jurrien Timber and William Saliba, both from corner kicks. The win has taken Arsenal to third place in the Premier League table with 28 points, level on points with Chelsea and seven points behind Liverpool. Timber and Saliba secure victory for Arsenal The opening goal of the match arrived in the 53rd minute as Timber headed in a corner from Declan Rice. Arsenal came close to doubling their lead soon after but a clearance from United's Manuel Ugarte kept them at bay. The victory was sealed when Saliba scored off a corner from Bukayo Saka, which was first headed by Thomas Partey, sending the ball past United goalkeeper Andre Onana. Arsenal's set-piece prowess under Arteta Under manager Mikel Arteta , Arsenal has been brilliant with set-pieces. As per Opta , Timber and Saliba's goals take their tally to 22 goals from corners since the start of last season, bettering all other Premier League sides in this regard. Meanwhile, Manchester United conceded two goals from corners in a Premier League match for the first time since January 2014 (two against Chelsea). Arsenal dominate closing period against United As the match approached its conclusion, Arsenal remained dominant. Mikel Merino narrowly missed a goal from another set-piece, and an attempt by Kai Havertz was saved by Onana. United looked out of ideas and it was a poor show from them in the 2nd half. Notably, United did a reasonable job in the first half, keeping Arsenal quiet, However, Arsenal were too good after the break and elevated their performance. 4 successive Premier League wins for Arsenal againt United Arsenal have won four consecutive league games against Manchester United for the first time in their history. The Gunners have also won each of their last four home league games against the Red Devils; their longest such run since April 1978 (seven in a row). Match stats and points table Arsenal had six shots on target from 14 attempts. United had just two shots on target from 5 attempts. Arsenal had 51% ball possession and an 87% pass accuracy. Notably, they earned 13 corners with United unable to earn any. The Gunners had 2.33 expected goals with United managing 0.31. United had six touches in the opposition box. Arsenal had 35 touches. 3rd-placed Arsenal have eight wins, four draws and two defeats. United are 11th in the standings (5 defeats). Set pieces killed the game, says Amorim Speaking to BBC after the match, Amorim said, "The set pieces changed the game. We could've been more aggressive towards the Arsenal box. Until the set pieces the game didn't have too many opportunities for both sides, the set pieces killed the game." "They can put a lot of players near the goalkeeper and it's almost impossible to fight for the ball but we have to manage to defend them and we already know we have to be better."Alarming satellite image shows China's $9bn secret warship doing military tests in Pacific amid WWIII fears READ MORE: China carries out 'total Taiwan blockade' drills By NIKKI MAIN SCIENCE REPORTER FOR DAILYMAIL.COM Published: 15:48 EST, 22 November 2024 | Updated: 16:06 EST, 22 November 2024 e-mail 48 View comments China 's secretive $9 billion warship has been spotted in Pacific ocean from space amid fears of WWIII. The CNS Liaoning, which is the nation's first operational aircraft carrier , was captured by NASA 's Landsat 8 satellite as it was docked in the Bohai Sea and conducted sea trials. The satellite images showed the Liaoning warship docked among other aircraft carriers at a shipyard, while a separate image showed moving out to sea. US Navy officials have been monitoring the warship, finding its deck measures about 656 feet long and 131 feet wide, making it smaller than other Chinese carriers. The images were taken days after US President Biden allowed Ukraine to use American missiles to strike China's ally Russia , which has led to fears that a worldwide war is on the horizon. China has become Russia's largest trading partner following Western sanctions and now enjoys huge discounts on energy exports while supplying essential technology and consumer goods . And in September, reports surfaced that the two nations were ramping up joint military drills. The US Landsat 8 satellite captured images of the Chinese navy's newest warship (pictured) that was recently deployed in the Bohai Sea The ship, pictured here, weighs about 60,000 tons and is part of China's smaller naval aircraft carriers The Chinese military has more than 370 warships and submarines in its fleet, making it the largest naval force created worldwide, and has worked to rapidly increase its fleet while keeping up with US carrier technology. CNS Liaoning was operating near Japan last year, strapped with guided-missile cruisers and a guided-missile destroyer, when it conducted flight operations with about 20 launches and recoveries of fighters . Reports also claimed there were around 40 take-offs and landings of helicopters from the carrier. More recently, from September 20 to October 1, the CNS Liaoning performed flight operations with carrier-based fighter jets and helicopters in the waters east of the Philippines and west of Guam. Images surfaced of China's Fujian ship (pictured), which is the largest in its naval arsenal, leaving its pier in the South China Sea on Monday It is unclear what trials were be conducted this week. The People's Liberation Army Navy also deployed its CNS Shandong aircraft carrier last week, which sailed into the South China Sea about 397 miles south of Miyako Island, according to the US Naval Institute . The vessel was monitored using satellite imagery and was reported to have conducted 10 launches and 10 helicopter take-offs and landings. The US has deployed its own fleet of warships to the northwest coast of Luzon to watch China's ongoing operations and reported that the Liberation Army could be readying itself to attack Japan . Read More Royal Navy frigate keeps 'close watch' on two Chinese warships travelling through British waters China's tensions with Japan has continued to grow due to concerns over its close relationship with the US. The Chinese government has also claimed that Taiwan is its own territory, although the country has not outright stated that it plans to invade Japan . Earlier this month, Japan's Ministry of Foreign Affairs said it is grateful that the US is deploying ships to the region as reports of China's warships increase. The press release stated: 'As the security environment in the region becomes increasingly severe, maintaining a robust presence of the U.S. Navy through the forward-deployment of USS George Washington and the Carrier Air Wing (CVW) 5 is essential to the security of Japan and the maintenance of regional peace and stability.' China Japan Russia Share or comment on this article: Alarming satellite image shows China's $9bn secret warship doing military tests in Pacific amid WWIII fears e-mail Add comment

Manmohan Singh, a revered figure in Indian politics and economics, passed away at the age of 92. Known for his crucial role in economic reforms, Singh led India's transition from a licence raj to a liberalized economy, earning respect both nationally and globally. During his tenure as the prime minister from 2004 to 2014, Singh was recognized for landmark initiatives such as the Right to Information (RTI) and Right to Education (RTE), but also faced criticism and controversies, including accusations of corruption within his administration. Despite challenges, Singh's legacy as a reformer and intellectual endures, marking him as a significant architect of modern India's economic environment. His leadership style, characterized by humility and consensus-building, left an indelible mark on the nation's history. (With inputs from agencies.)

After a trying 2024 season, Maryland football will take any victories when available, and Wednesday offered one. On National Signing Day, the Terps earned signed commitments from 20 high school seniors who can suit up next fall. The group has attracted high marks from recruiting services such as ESPN, which rates the class 21st in its national rankings, and 247Sports, which rated the group No. 27. The crown jewel of the high school seniors is Spalding quarterback Malik Washington, a 6-foot-5, 215-pound four-star prospect who has risen in 247Sports’ individual rankings to No. 50 and is the No. 5 quarterback in the nation. , Washington became the first quarterback in Maryland Interscholastic Athletic Association history to guide his school to three consecutive A Conference titles, completed 65.3% of his passes for 1,970 yards and 22 touchdowns, and added eight rushing scores. Whether Washington — who will not play basketball for the Cavaliers this winter so that he can concentrate on football — will see much playing time remains to be seen. Billy Edwards Jr., who started the first 11 games for the Terps (4-8, 1-8 Big Ten) before sitting out Saturday’s 44-7 loss at No. 3 Penn State because of an injured thumb on his right (throwing) hand, is slated to return after finishing his redshirt junior year ranked second in the Big Ten in total passing yards (2,881), third in passing yards per game (261.9) and eighth in completion percentage (.65). Although announced his intention in October to enter the transfer portal, Washington would still have to compete with redshirt sophomore MJ Morris, who was Edwards Jr.’s primary backup. Redshirt freshman Champ Long, redshirt sophomore Jayden Sauray, and freshmen Roman Jensen and Khristian Martin could also be in the mix. Maryland coach Mike Locksley noted that Juice Williams at Illinois in 2006 and Jalen Hurts and Tua Tagovailoa at Alabama in 2016 and 2017, respectively, started as freshmen in his offensive system. So he was not about to set any boundaries for Washington. “To me, the sky is the limit for his talent level,” Locksley said. “He expects to come in the mail room and work his way up. He doesn’t want it any other way. He wants to come in and learn and be a sponge.” While the clock on Washington’s development begins soon, here are three recruits (in alphabetical order) who could make an impact sooner rather than later: The 6-1, 196-pound resident of Newport News, Virginia, over Ohio State, Virginia and Virginia Tech. And although he sat out the fall for Warwick High while recovering from a broken leg suffered in the spring, Delhomme offers a versatile blend of talent after demonstrating his skills at safety, wide receiver and running back. Rated a four-star recruit, Delhomme is ranked by 247Sports as the No. 22 safety in the country and the No. 115 player overall. If he remains at safety, Delhomme could replace Dante Trader Jr., a McDonogh graduate headed to the Senior Bowl, and pair with junior Jalen Huskey, who moved from cornerback to safety, in the defensive backfield. Maryland’s secondary was young and inexperienced this past season. The defense ranked 17th in the 18-team Big Ten in touchdown passes surrendered (22) and yards allowed per completion (12.1) and 16th in passing yards allowed per game (241.3). The unit also accounted for 11 pass interference and one defensive holding penalties. “Losing players like Dante Trader and Glen Miller that have been three-year starters back there on the back end, his range, his length, he has what I call the quarterback moxie that you look for out of a field general on the defensive side,” Locksley said. “He has tremendous ball skills, which — when you play that position — we see a guy that has the ability to play the deep part of the field for us and has the range, length and ball skills that you want as well as the physicality.” The 6-4, 305-pound resident of Virginia Beach, Virginia, visited South Carolina and Georgia but stayed closer to home when he selected Maryland. Gilchrist contributed to Salem High advancing to the Virginia Class 5 state Region A final and a 10-3 record this past fall. A four-star prospect, Gilchrist is ranked by 247Sports as the No. 6 interior offensive lineman in the nation and the No. 92 player overall. Gilchrist will arrive at an opportune time. There is an immediate opening at left guard with senior Isaac Bunyun exhausting his eligibility. And right guard could be a possibility if redshirt sophomore Aliou Bah, who started all 12 games there, moves to the left side. The offensive line could use some help. The unit ranked 14th in the 18-team Big Ten in sacks allowed (26) and had a hand in a rushing offense that finished 16th in rushing yards per game (110.4) and 13th in touchdown runs (15). Members of the offensive line were also responsible for 12 presnap penalties (false starts and illegal snaps) and nine holding infractions. “I see him being that talented [with] his size, his athletic ability, his skill set as well as our need to improve that position,” said Locksley, who added that Gilchrist could follow the paths of former Alabama offensive tackles Jonah Williams, Jedrick Wills and Alex Leatherwood who started early in their careers. “Jaylen’s skill set is as a big, athletic guy that has a body and strength that translates to being able to come in and compete early.” The 6-4, 335-pound resident of Washington visited Rutgers, South Carolina and Tennessee before traveling to College Park and opting for Maryland. Jenkins has played on the defensive and offensive lines for Friendship Collegiate Academy (8-3), which has limited opponents to 10.1 points per game this fall and will meet Dunbar for the District of Columbia State Athletic Association title on Saturday in a repeat of last year’s matchup won by Friendship. Related Articles Graded as a four-star recruit, Jenkins is considered by 247Sports as the No. 35 defensive lineman in the country. While redshirt sophomore Jordan Phillips figures to be a mainstay at nose tackle, there is a vacancy at defensive tackle in the defense’s 3-4 alignment. Senior Tommy Akingbesote started all 12 games there before exhausting his eligibility. Jenkins could fortify a defensive line in need of an influx of talent. As a whole, the defense ranked last in the Big Ten in total sacks (14), and the defensive line chipped in on 4 1/2 of those sacks. And in the last five games, the Terps surrendered an average of 184.4 rushing yards and 10 touchdown runs. “He’s a big guy with a little-guy skill set, meaning he’s one of those guys that is a lot like Warren Sapp,” Locksley said. “He’s a guy that has that twitch inside that most interior defenders don’t have. So for me with that part and that big body, he could very easily be an All-American left tackle as he can be an All-American interior three-technique nose guard guy.”

NoneArtivion VP regulatory Andrew Green sells $228,540 in stock

Q3 2024 Overview SAN DIEGO , Dec. 5, 2024 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), a complete partner in pet health and wellness, today announced its third quarter 2024 financial results. In the third quarter of 2024, Petco delivered net revenue of $1.51 billion , up 1.2 percent versus prior year. On an as-reported basis, the company's consumables business was up 2.7 percent versus prior year, and services and other business was up 5.0 percent versus prior year. Growth in the company's consumables and services and other businesses was offset by the company's supplies and companion animal business, down 2.8 percent versus prior year. GAAP net loss in the third quarter of 2024 was $16.7 million , or $(0.06) per share, compared to GAAP net loss of $1.2 billion , or $(4.63) per share in the prior year, which included a $1.2 billion non-cash goodwill impairment charge associated with goodwill originally recorded in 2015. Adjusted Net Income 1 was $(6.5) million , or $(0.02) per share 1 , compared to $(14.5) million , or $(0.05) per share 1 in the prior year. Adjusted EBITDA 1 was $81.2 million compared to $72.2 million in the prior year. "Our third quarter results demonstrate the meaningful progress we're making to strengthen our retail fundamentals to drive sustainable, profitable growth," said Joel Anderson , Petco's Chief Executive Officer. "While there is more work to do, our improving results increase our conviction that we are on the right path to position Petco to win long-term. Our entire organization is focused on driving profitability and free cash flow, and I'm confident we're set up for a solid finish to 2024." (1) Adjusted EBITDA, Adjusted Net Income, Adjusted Earnings Per Share ("Adjusted EPS"), and Free Cash Flow are non-GAAP financial measures. See "Non-GAAP Financial Measures" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. Fiscal Q4 2024 Outlook The company is providing Q4 guidance for revenue, Adjusted EBITDA, and Adjusted EPS, in addition to full year interest expense and capital expenditure expectations. For Fiscal Q4 2024, the company expects: Metric* FQ4 2024 Guidance Net Revenue ~ $1.55 billion Adjusted EBITDA Between $90 million and $95 million, including a minimum of $10 million in third party consulting fees associated with our transformation effort Adjusted EPS Between $0.00 and $0.02 For Fiscal 2024 (a 52-week year), the company expects the following: Metric* 2024 Guidance, YoY Net interest expense ~$140 million Capital Expenditures ~$130 million *Assumptions in the guidance include that economic conditions, currency rates and the tax and regulatory landscape remain generally consistent. For fiscal 2024, our guidance anticipates a 26 percent tax rate, and 273 million weighted average diluted share count. Adjusted EBITDA and Adjusted EPS are non-GAAP financial measures and have not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA and Adjusted EPS are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the Securities and Exchange Commission. Earnings Conference Call Webcast Information: Management will host an earnings conference call on December 5, 2024 at approximately 4:30 PM Eastern Time to discuss the company's financial results. The conference call will be accessible through a live webcast. Interested investors and other individuals can access the webcast, earnings release, and earnings presentation via the company's investor relations page at ir.petco.com . A replay of the webcast will be archived on the company's investor relations page through December 19, 2024 until approximately 5:00 PM Eastern Time . About Petco, The Health + Wellness Co.: Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. We've consistently set new standards in pet care while delivering comprehensive pet wellness products, services and solutions, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico , which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics. Our complete pet health and wellness ecosystem is accessible through our pet care centers and digitally at petco.com and on the Petco app . In tandem with Petco Love , a life-changing independent nonprofit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we've helped find homes for nearly 7 million animals. Forward-Looking Statements: This earnings release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are not statements of historical fact, including, but not limited to, statements regarding our Q4 and full year 2024 guidance, operational reset of our business, our competitive positioning, profitability, cost action plans and associated cost-savings. Such forward-looking statements can generally be identified by the use of forward-looking terms such as "believes," "expects," "may," "intends," "will," "shall," "should," "anticipates," "opportunity," "illustrative," or the negative thereof or other variations thereon or comparable terminology. Although Petco believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that these expectations will prove to be correct or that any forward-looking results will occur or be realized. Nothing contained in this earnings release is, or should be relied upon as, a promise or representation or warranty as to any future matter, including any matter in respect of the operations or business or financial condition of Petco. All forward-looking statements are based on current expectations and assumptions about future events that may or may not be correct or necessarily take place and that are by their nature subject to significant uncertainties and contingencies, many of which are outside the control of Petco. Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from the potential results or events discussed in the forward-looking statements, including, without limitation, those identified in this earnings release as well as the following: (i) increased competition (including from multi-channel retailers, mass and grocery retailers, and e-Commerce providers); (ii) reduced consumer demand for our products and/or services; (iii) our reliance on key vendors; (iv) our ability to attract and retain qualified employees; (v) risks arising from statutory, regulatory and/or legal developments; (vi) macroeconomic pressures in the markets in which we operate, including inflation, prevailing interest rates and the impact of tariffs; (vii) failure to effectively manage our costs; (viii) our reliance on our information technology systems; (ix) our ability to prevent or effectively respond to a data privacy or security breach; (x) our ability to effectively manage or integrate strategic ventures, alliances or acquisitions and realize the anticipated benefits of such transactions; (xi) economic or regulatory developments that might affect our ability to provide attractive promotional financing; (xii) business interruptions and other supply chain issues; (xiii) catastrophic events, political tensions, conflicts and wars (such as the ongoing conflicts in Ukraine and the Middle East ), health crises, and pandemics; (xiv) our ability to maintain positive brand perception and recognition; (xv) product safety and quality concerns; (xvi) changes to labor or employment laws or regulations; (xvii) our ability to effectively manage our real estate portfolio; (xviii) constraints in the capital markets or our vendor credit terms; (xix) changes in our credit ratings; (xx) impairments of the carrying value of our goodwill and other intangible assets; (xxi) our ability to successfully implement our operational adjustments, achieve the expected benefits of our cost action plans and drive improved profitability; and (xxii) the other risks, uncertainties and other factors identified under "Risk Factors" and elsewhere in Petco's Securities and Exchange Commission filings. The occurrence of any such factors could significantly alter the results set forth in these statements. Petco cautions that the foregoing list of risks, uncertainties and other factors is not complete, and forward-looking statements speak only as of the date they are made. Petco undertakes no duty to update publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority. PETCO HEALTH AND WELLNESS COMPANY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited and subject to reclassification) 13 Weeks Ended November 2, 2024 October 28, 2023 Percent Change Net sales: Products $ 1,263,194 $ 1,257,803 0 % Services and other 248,243 236,363 5 % Total net sales 1,511,437 1,494,166 1 % Cost of sales: Products 782,240 787,994 (1 %) Services and other 153,440 156,171 (2 %) Total cost of sales 935,680 944,165 (1 %) Gross profit 575,757 550,001 5 % Selling, general and administrative expenses 571,780 559,611 2 % Goodwill impairment — 1,222,524 (100 %) Operating income (loss) 3,977 (1,232,134) N/M Interest income (1,346) (1,139) 18 % Interest expense 35,797 36,557 (2 %) Loss on partial extinguishment of debt — 174 (100 %) Other non-operating income (8,465) (113) 7,391 % Loss before income taxes and income from equity method investees (22,009) (1,267,613) (98 %) Income tax benefit (857) (22,902) (96 %) Income from equity method investees (4,479) (3,574) 25 % Net loss attributable to Class A and B-1 common stockholders $ (16,673) $ (1,241,137) (99 %) Net loss per Class A and B-1 common share: Basic $ (0.06) $ (4.63) (99 %) Diluted $ (0.06) $ (4.63) (99 %) Weighted average shares used in computing net loss per Class A and B-1 common share: Basic 274,495 267,852 2 % Diluted 274,495 267,852 2 % PETCO HEALTH AND WELLNESS COMPANY, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited and subject to reclassification) November 2, 2024 February 3, 2024 ASSETS Current assets: Cash and cash equivalents $ 116,675 $ 125,428 Receivables, less allowance for credit losses 1 40,432 44,369 Merchandise inventories, net 690,291 684,502 Prepaid expenses 46,720 58,615 Other current assets 37,665 38,830 Total current assets 931,783 951,744 Fixed assets 2,233,558 2,173,015 Less accumulated depreciation (1,493,752) (1,356,648) Fixed assets, net 739,806 816,367 Operating lease right-of-use assets 1,328,398 1,384,050 Goodwill 980,064 980,297 Trade name 1,025,000 1,025,000 Other long-term assets 206,429 205,694 Total assets $ 5,211,480 $ 5,363,152 LIABILITIES AND EQUITY Current liabilities: Accounts payable and book overdrafts $ 447,673 $ 485,131 Accrued salaries and employee benefits 129,486 101,265 Accrued expenses and other liabilities 190,789 200,278 Current portion of operating lease liabilities 340,437 310,507 Current portion of long-term debt and other lease liabilities 5,294 15,962 Total current liabilities 1,113,679 1,113,143 Senior secured credit facilities, net, excluding current portion 1,576,856 1,576,223 Operating lease liabilities, excluding current portion 1,064,322 1,116,615 Deferred taxes, net 210,708 251,629 Other long-term liabilities 123,077 121,113 Total liabilities 4,088,642 4,178,723 Commitments and contingencies Stockholders' equity: Class A common stock 2 237 231 Class B-1 common stock 3 38 38 Class B-2 common stock 4 — — Preferred stock 5 — — Additional paid-in-capital 2,271,052 2,229,582 Accumulated deficit (1,135,221) (1,047,243) Accumulated other comprehensive (loss) income (13,268) 1,821 Total stockholders' equity 1,122,838 1,184,429 Total liabilities and stockholders' equity $ 5,211,480 $ 5,363,152 (1) Allowances for credit losses are $1,623 and $1,806, respectively (2) Class A common stock, $0.001 par value: Authorized - 1.0 billion shares; Issued and outstanding - 237.2 million and 231.2 million shares, respectively (3) Class B-1 common stock, $0.001 par value: Authorized - 75.0 million shares; Issued and outstanding - 37.8 million shares (4) Class B-2 common stock, $0.000001 par value: Authorized - 75.0 million shares; Issued and outstanding - 37.8 million shares (5) Preferred stock, $0.001 par value: Authorized - 25.0 million shares; Issued and outstanding - none PETCO HEALTH AND WELLNESS COMPANY, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited and subject to reclassification) 39 Weeks Ended November 2, 2024 October 28, 2023 Cash flows from operating activities: Net loss $ (87,979) $ (1,257,635) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 149,414 148,593 Amortization of debt discounts and issuance costs 3,661 3,658 Provision for deferred taxes (35,629) (35,164) Equity-based compensation 40,705 64,431 Impairments, write-offs and losses on sale of fixed and other assets 8,449 2,202 Loss on partial extinguishment of debt — 920 Income from equity method investees (13,557) (10,032) Amounts reclassified out of accumulated other comprehensive (loss) income (3,035) 674 Goodwill impairment — 1,222,524 Non-cash operating lease costs 311,347

“W hat just happened? It was the economy, stupid!” CNN news anchor David Goldman declared when Donald Trump (Republican) won as president of the United States of America for 2025-2029 at the Nov. 5 national elections (CNN, Nov. 6). The American people want a change. Goldman said, “a signi fi cant number of voters blame President Joe Biden and Trump’s opponent, Vice-President Kamala Harris, for failing to make enough improvements to Americans’ financial situations over the past four years. Poll after poll suggested that Americans hold largely negative views about the US economy” (Ibid.). They jealously want a return to “the American dream” of prosperity and indulgence. “Americans are living in the moment, optimistic that Trump can ease the pain of high inflation over the past four years. Election polls consistently showed the economy and inflation were top of mind. In the last Forbes/HarrisX national poll released the Monday before Election Day, 36% of respondents said prices/inflation were their top concern, followed by immigration and the economy at 32% and 31%, respectively,” post-election news analyses said ( USA Today, Nov. 7). The Center for American Progress Action Fund (CapAction), an independent, nonpartisan (US) policy institute and advocacy organization, volunteered an analysis of Trump’s economic plan based on what he had focused on in his first term (2017-2021) as president. “The most significant piece of legislation former President Donald Trump signed during his first term had a dramatic cut in the corporate tax rate from 35% to 21% as its centerpiece. (This was supposed to create more jobs, bring down prices, stimulate the economy.) That corporate tax cut did not trickle down to ordinary workers but cost $1.3 trillion and helped fuel a record $1 trillion in stock buybacks the year after it passed ( americanprogressaction.org , June 12). “We know that ‘privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again,’ according to The Washington Post , even as corporate profits hit near record highs in 2023... The Post also reported that Trump’s advisers... have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to as low as 15%. As antitax advocate Grover Norquist told The Post, ‘I would be very surprised’ if he abandoned the push for lower corporate taxes... ‘All the people advising him before for sure think the 15% is where we need to go’.” (Ibid.). Why the contretemps of Trump taking over the reins of the world’s leading economy, at this time of struggling out of the global recession caused by the four-year COVID pandemic and the disruption of world peace. The world economy will be affected by the US economy. Noam Chomsky, American professor emeritus (MIT) and a “public intellectual” known for his work in linguistics, political activism and social criticism, wrote a book, Requiem for the American Dream: The 10 Principles of Concentration of Wealth & Power (2017) in which he asks “why America seemed to reach the zenith of its economic and civic vibrancy in the 1950s and ’60s and then go into a decline that has left few except the top tenth of a percent of Americans truly fulfilled or satisfied.” Reviewer Godfrey Cheshire subtly connects Chomsky’s thesis of the change in American culture and thought to the socio-politics of Trump’s first term as President (coinciding with the launch of Chomsky’s book and the partner-documentary in 2017). “Chomsky aptly calls the process (the change) he describes a ‘vicious cycle’ — the more money that goes into politics with the intent of influencing it, the more our politics is ruled by money rather than any other definition of national welfare.” Is it suggested that Trump, being unchangeably a businessman, aka, a capitalist, will be guided by his affinity with the wealthy (as he was reportedly supported in the elections by “big business”) in guiding the economics of his country? Note that bringing down the US corporate income tax rate from the present 21% to 15% (the centerpiece of Trump’s economic plan) will give the largest 100 US companies (the Fortune 100) a total estimated annual tax cut of $48 billion. These corporations collectively reported $1.1 trillion in profits in their last annual reports ( americanprogressaction.org , op cit.). Cutting the corporate tax rate to 15% would cost roughly $1 trillion over 10 years based on Joint Committee on Taxation (JCT) and US Treasury estimates. Yet the shortfall in government revenues will be suffered by the people, as the tax cuts (from 35% to 21%) in Trump’s first term did not trickle down to boost productivity, employment, and lower-level household income. The (US) Center on Budget and Policy Priorities judged that “the 2017 Trump Tax Law was skewed to the rich, expensive, and failed to deliver on its promises.” Close to the elections, the Center warned that “A high-stakes tax policy debate will accelerate this year through 2025 over the pending expiration of the individual income and estate tax provisions of the 2017 Trump tax law. Policymakers should use this opportunity to work toward a tax code that raises more revenues, is more progressive and equitable, and supports investments that make the economy work for everyone” ( cbpp.org , June 13). America is told by its own sages to “make haste slowly” and to weigh and vet its strategies for economic development. Priority is to watch and avert the social degradation and undemocratic exclusion of the less privileged from opportunities for a better quality of life. The rich already have all they need and all they want. Some less-developed countries like the Philippines might still subconsciously look up to America for how to think or act in national situations or issues — perhaps a vestige of the “relief” from 300 years of Spanish colonization. (No Filipino bashing here, for wanting to be “Westernized,” as the whole world is now actually still led by America.) Is it surprising that our socio-politics and economics are pretty much like those of the US? President Ferdinand “Bongbong” Marcos, Jr. signed on Nov. 11 a new tax law called CREATE MORE, or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act. It will amend Republic Act 11534 or the original CREATE Act that was crafted to help enterprises recover from the impact of the pandemic by lowering the corporate income tax rates and making the country more appealing to businesses by rationalizing fiscal incentives ( manilatimes.net , Nov. 11). Its centerpiece policy is the reduction of the corporate income tax to 20% from the current 25%. There will be additional tax deductions and absolutely no taxes for specific registered business enterprises and incentives for foreign direct investors. Its implementing rules and regulations (IRR) will be released soon. Economist JC Punongbayan comments that official projections from Malacañang say the CREATE MORE will admittedly lower tax revenues by P5.9 billion. (Understated?) “That’s not a terribly large amount. In fact, such forgone revenues would be just 2% of the government’s revenues in September 2024. But still, it represents an erosion of much-needed revenues, at this time when the budget deficit and public debt remain too high compared to our nation’s income. If you check the latest debt statistics, you’ll see that the debt-to-GDP ratio has inched up to 61.3% in September 2024. That’s higher than the 2023 level of 60.1%.” ( Rappler , Nov. 15) Deloitte analyst Senen Quizon points out that CREATE MORE allows the president to grant incentives without the recommendation of the Fiscal Incentives Review Board (FIRB), the government body with the authority to grant tax incentives to Registered Business Enterprises (RBEs). At present, the President has residual power to grant incentive packages based on the FIRB’s criteria and recommendations ( deloitte.com/ph , Nov. 4). Oops! Hope the RBE/ Foreign Direct Investors will not have to worry about the “unexpected costs” of doing business in the Philippines. Amelia H. C. Ylagan is a doctor of Business Administration from the University of the Philippines. ahcylagan@yahoo.comSouth Korea's Yoon faces impeachment vote on Saturday

In pictures: Dazzling light show returns to SalfordNone

While Joe Burrow ranks second among current NFL quarterbacks, his performance isn’t translating into team success. The Cincinnati Bengals are currently 4-7, with their playoff hopes hanging by a thread. Matthew Stafford’s wife, Kelly Stafford, sees the situation and is reminded of her husband’s time in Detroit, where he faced a similar scenario himself. On the recent episode of her podcast, ‘Morning After,’ she talked about the Week 11 matchups and the Bengals’ 34-27 loss to the Chargers made her heart go out to Burrow. “Also, I am a little heartbroken for Joe Burrow,” Kelly said, before sharing how Burrow’s situation reminded her of Stafford’s time in Detroit. “To be honest, it is reminding me of when Matthew played on the Lions for a bit.” Kelly felt empathy for Burrow, as he has the skill set of an elite quarterback but will likely face backlash due to the team’s poor performance this season. Something she seemingly believes Matthew experienced with the Detroit Lions. She further shared that she had even texted her husband about how she “feels” for the young QB, adding, “So I texted Matthew and I was ‘I kind of feel like I feel for him. Because I felt for you in those times.'” Kelly’s words resonated with the majority of fans, who poured their thoughts into empathizing with the quarterback. An internet user even compared Burrow’s situation with the Chargers’ Justin Herbert. However, many NFL fans weren’t convinced by Kelly’s comparison of Burrow to Stafford, believing that the Bengals’ signal-caller is in a different league altogether. Kelly has been candid about Stafford’s time with the Lions and how the negativity surrounding his move to the Rams affected his family. The quarterback played 12 seasons in Detroit, where he managed to lead the team to the playoffs thrice with no postseason wins. However, after being traded to the Rams in 2021, he went on to lift the Lombardi Trophy in his debut season. Kelly recounted how in the Rams’ first matchup against Detroit on the road, the home fans booed not only Stafford but also Kelly and their daughters. On her podcast, the QB’s wife shared that while she wasn’t especially surprised at her husband getting the fans’ wrath, it was certainly shocking when she and the kids became the target. “My girls and I are not playing the game,” said Kelly. “I know that my girls are not getting booed. I am, and I can handle it. But when I have my girls next to me, there’s something to be said of like, maybe not?” Matthew Stafford has proved his mettle in the NFL ever since his switch to Los Angeles, even earning the tag for “ the throw of the year ” in this season’s game against his former home. As for Burrow, the quarterback has become a legitimate contender for the MVP race, but he needs to convert his QB prowess into wins and secure a playoff berth to silence the critics.None