03132024 BUSINESS

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE Ministry of Tourism Investments and Aviation opened its first tourism incubation centre last night, with Prime Minister Philip “Brave” Davis saying it will support growing Bahamian businesses by removing one of the

By FAY SIMMONS Tribune Business Reporter jsimmons@

THE Ministry of Tourism is using technology to combat warnings by cruise ships not to carry cash, according to Deputy Prime Minister Chester Cooper.

According to several vendors, cruise ship passengers have been warned to not venture outside of the high traffic tourist areas if they disembark while in The Bahamas and to not carry cash outside cruise ships. A video recently circulated showing passengers in Grand

Sold outJack’s Bay offering snapped up

A LUXURY development in Eleuthera has sold out its beachfront and ocean view properties.

The 1,200-acre Jack’s Bay club and residential community has sold out its Founder’s View offering with home sites priced from $1.5m to $3m.

The development is the only location with a Tiger Woods ten-hold Playground golf course and an 18-hole Nicklaus Design Heritage course.

“The Bahamas continues to be a super-hot market for second home buyers, and we are pleased to see such strong interest in Jack’s Bay,” said Tommy Turnquest, chief executive officer of Jack’s Bay. “This multi-generational membership offering and highly amenitised master-planned family lifestyle community is a true legacy project that will transform South Eleuthera and become an oasis for our members,

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greatest barriers – the cost of business.

He said Bahamians are eager to have more of the “tourism pie” and the centre will allow creatives the avenue to capitalise on the growing sector.

He said: “Today, with the opening of the Tourism Development Centre’s Incubation Centre, we welcome a new era for entrepreneurial innovation and business growth.

Bahama discussing warnings they had been given.

Speaking to reporters yesterday, Mr Cooper said the Ministry of Tourism and the Tourism Development board are

Bahamians have the desire, the talent and the creativity to have more of the tourism pie. So, we are here to offer support at the early stages of their journey, so they can grow and grow their micro businesses into small business or their small businesses into large ventures.

“By providing this rent-free space, we are taking on one of the barriers, taking down the

encouraging vendors to explore digital payment options and credit cards so that they can continue to benefit from the “billiondollar” industry.

“So there has been a lot of concern from some vendors that tourists are not bringing a lot of cash onshore from the ships and therefore we are going to ensure that we engage all of the technology experts to ensure that we have seamless payment options whether it’s through apps or credit card accessibility, whatever it takes the Tourism Development Corporation and the Ministry of Tourism will do all in our power to shore up the Bahamian entrepreneurs

stumbling blocks to opening and growing a small business in The Bahamas, which is the cost of doing business. “In times like these, where our people especially young our young entrepreneurs are yearning for avenues to make a living within the creative economy and the tourism

I’m to ensure that there’s active participation in the industry,” said Mr Cooper.

“This is a billion-dollar industry, and we sometimes have 25,000 guests a day, come to the Nassau Cruise Port and I am excited about the possibilities for tourism development and for entrepreneurship. I think there’s a great opportunity for Bahamians, to be exceedingly successful in tourism businesses.”

The Minister of Tourism Investments and Aviation said The Bahamas brings a “significant level of value and attractiveness” to cruise lines and that after consulting with executives

BY DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net

KWASI Thompson, MP for East Grand Bahama and Shadow Minister for Grand Bahama, has urged the PLP government to ensure the $2bn investment touted by the government brings tangible benefits to Grand Bahamians.

He said the FNM approved and negotiated Carnival’s Celebration Key and the GB Shipyard expansion, worth over $1bn.

“We are extremely pleased by the progress of these investments, which we believe will bring opportunities for Bahamians,” Mr Thompson said.

He listed other projects initiated and approved by the FNM, including the West Atlantic University School of Medicine, Discovery Bay, Six Senses Grand Bahama, Freeport Harbour Cruise Port Development, and the Grand Bahama Airport Development.

Mr Thompson said the FNM is proud of its efforts to attract quality investments that are finally manifesting in the post-pandemic environment.

He said it does not matter how many billions are promised; what matters

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‘Regular tourists not put off by negative publicity’

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

MANY tourists visiting The Bahamas regularly are not fazed by recent negative publicity after travel advisories, according to Rafique Symonette, chairman of the Tourism Development Cooperation (TDC).

Speaking to reporters yesterday, he said a key part of combating negative press is supporting local entrepreneurs and tourism stakeholders so that they can showcase The Bahamas and continue to develop new products and experiences.

“Our key thing about that is actually supporting. If we have a good product and we’re able to show and showcase what Bahamians can offer we think that’s going to change the narrative,” said the TDC chairman.

“We have so many guests who come here year after year and they’re not fazed by this knowledge. Right. They just aren’t, they’re still coming back. But if we keep creating innovative experiences and new things for them to experience that will ensure that they come back again and again.”

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A vacancy is available for a Financial Controller in the Bahamas Maritime Authority Finance team based in London (United Kingdom).

The Bahamas Maritime Authority is one of the leading Flag State Administrations in the world and is seeking to strengthen its Finance team in the United Kingdom. London is one of the global business hubs in the world and home to the strong BMA team.

The Financial Controller is a key leadership role responsible for managing the fnance department in London and overseeing the fnances of other offces. This role involves strategic fnancial management, including developing and implementing fnancial policies, ensuring accurate fnancial reporting, and leading the budgeting and forecasting processes. The Financial Controller will ensure compliance with fnancial regulations, manage cash fow, and provide decision support Head of Finance. Additionally, this role encompasses team management, developing internal controls, and coordinating audits. Deputise for the Head of Department in their absence.

If you are interested in this role, please send your CV along with a cover letter, and a copy of your accounting qualifcations to hr@ bahamasmaritime.com

Key responsibilities:

• Financial Leadership and Strategy:

o Provide direction and guidance on fnancial policies, systems, and procedures to ensure effcient and effective management of the company’s fnances.

• Team Management:

o Assist in the management and oversight the fnance team, ensuring tasks are completed accurately and on time.

o Provide leadership, direction, and training to fnance staff to achieve departmental objectives.

• Financial Reporting and Compliance:

o Assist with accurate and timely fnancial reports, including monthly, quarterly, and annual statements.

o Management of the accounting software overseeing the release of entries, consolidation reports.

o Preparation of Bahamas Shipowner’s Association fnancial reporting and audit.

o Process of the pension contributions and Payroll (Tax & NonTax).

• Budgeting and Forecasting:

o Assist the budgeting and forecasting processes, ensuring they are completed effectively and refect the company’s fnancial position and future risks and opportunities.

• Cash Management:

o Oversee cash fow planning and ensure the availability of funds as needed.

o Oversee banks in all offces and third-party authorisation in the regional online banking system.

o Maintaining up-to-date, accurate accounting records, processing “BORIS” transactions and approving bank reconciliations.

o Implement strategies to optimise the company’s fnancial resources.

o Management of the Accounts Receivable and Accounts Payables.

o Management of the credit and credit controls for external clients.

• Audit and Internal Controls:

o Coordinate with local and regional auditors during audits and reviews.

o Develop and maintain internal controls to safeguard fnancial assets of the organisation.

• Financial Analysis and Decision Support:

o Conduct fnancial analysis to identify trends, risks, and opportunities.

o Provide recommendations to the Head of Department based on fnancial analysis and projections.

o Maintain up-to-date, accurate accounting records and oversee VAT reporting, audits, and banking operations.

o Act as a point of contact for third-party service providers and manage relationships effectively.

o Implement and maintain fnancial management systems and processes.

Person Specifcation:

• Skills and Experience:

o Strong analytical skills and excellent organizational skills.

o Profcient in Microsoft Offce packages and experience with multi-currency accounting software.

o Demonstrated leadership capabilities with a team-oriented approach.

Qualifcations required:

• Essential:

o Bachelor’s degree in accounting, Finance or Business-related subjects

o Qualifed ACCA, CPA, CA

• Desirable:

o Master’s degree in accounting, Finance or Business-related subjects

o 5+ years’ experience in a senior role

o Data analytics

Personal qualities required:

o High level of confdentiality and attention to detail.

o Commercial and market awareness.

o Strong leadership, team player, and critical thinking skills. The role is based in our London offce.

Benefts:

London competitive salary;

15% gratuity paid every three years;

UK Private medical insurance; 22 days holiday per annum (pro rata) in the frst year

MASTERCARD ANNOUNCES NEW DIVISION PRESIDENT

MASTERCARD has announced the appointment of Kiki Del Valle as the division president for North Latin America, encompassing regions such as Mexico, Central America, and the Caribbean.

In a statement, Mastercard said: “Kiki is a strategic and results-driven executive leader with more than two decades of experience in digital transformation, global product development, financial inclusion, public-private partnerships and leading teams across regions worldwide. With over 15 years of dedicated service to Mastercard, Kiki Del Valle brings a wealth of experience to her new role. Having held diverse leadership positions in the US, Global, and Latin America and the Caribbean (LAC) regions, including market development, digital partnerships, and digital products, Kiki has consistently demonstrated her ability to drive meaningful impact and foster innovation.

“Under her leadership, Mastercard has successfully engaged with industry stakeholders across crucial segments, fostering strategic dialogues that have solidified the company’s position as the preferred partner for fintech collaborations. Kiki’s track record exemplifies her dedication to advancing Mastercard’s

goals in a rapidly changing financial landscape.

“Beyond her professional achievements, Kiki Del Valle is a gender advocate, actively championing diversity and inclusion within Mastercard. Serving as the Executive Sponsor for the US Hispanic Group and Women Leadership Networks in the Latin America and the Caribbean region, she has been instrumental in promoting and empowering women and minorities in leadership roles.” She has also served as a board member for WaterAid Americas and the Damas Foundation in Puerto Rico. Throughout her career, she has mentored more than 100 women

and fintech founders across the Americas. Amongst some of her accomplishments are the development of the Tech for Good Association in Latin America, a private partnership to accelerate digital and financial inclusion efforts across the region in 2020, serving as the executive sponsor of Start Path Empodera empowering women in Colombia and Peru through mentoring and the development of business skill sets, and the formation of TodasConectadas, a digitisation platform developed in partnership with UN Women and Microsoft to help digitize women MSMEs across the entire Latin America region.

Bahari names BTC veteran as its new general manager

BAHARI Bahamas has named 36-year marketing and telecommunications industry veteran, Carole Barnett, as its newlyappointed general manager. The local fashion brand, in a statement, said Ms Barnett, recently retired from her executive senior manager role at the Bahamas Telecommunications Company (BTC) where she oversaw the introduction of new technology, expansion of the career’s retail footprint, the coordination of endorsement opportunities for Bahamian talent, and educational initiatives empowering young Bahamians. In her new role at Bahari Bahamas, Ms Barnett will oversee the company’s daily operations, focusing on guiding, coaching and mentoring employees to facilitate continued operational growth. “This is truly a great opportunity, and I look forward to this new chapter in my life,” said Ms Barnett.

“I am very excited to work with a young Bahamian company that has already made an indelible mark in the luxury retail industry. I am eager to

utilise my corporate experience to elevate the business to new heights.

“My primary goals for Bahari include establishing and sustaining operational and people structures, increasing brand equity and revenue, fostering a culture of growth and adaptability, introducing new product segments and expanding the business internationally.”

Bahari said it yesterday celebrated International Women’s Day by highlighting its all-female leadership and sales teams. The fashion brand will also launch a special promotion, offering

50 percent discounts to the price of women’s wear in-store and online, to celebrate the occasion.

“We are thrilled to welcome Ms Barnett to the Bahari team,” Bahari Bahamas’ shareholders and directors said. “Her strategic leadership and innovative thinking will continue Bahari’s position as an industry leader. As we approach our tenth anniversary milestone, we are confident that she will play a pivotal role in shaping a bright future for the business.”

Mr Symonette said in addition to launching Tourism Incubation Centres for emerging entrepreneurs, the TDC has launched the Hospitality Assured Programme to enhance the skills of stakeholders and is on its third cohort of the lifeguard training programme.

He said: “We’re working on so many different initiatives. One of the specific ones that we’ve done is this Hospitality Assured programme, where we’re trying to bring the skills and tenacity and experience to the entrepreneurs in the hospitality sector and to the employees. The goal is that that will allow us to have a much better tourism product.

“We also have a lifeguarding programme, this is our third cohort of teaching lifeguards to keep the tourists safe, because we think that’s a pivotal part about encouraging people to come to visit us.

KIKI DEL VALLE

CAROLE BARNETT

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sector projects like the Incubation Centre are essential.”

Deputy Prime Minister Chester Cooper said the incubation centre will host businesses for one year, with the first six months rent free and the remaining six months subsidised.

He said participants are expected to use the opportunity to grow their businesses so they can expand into their own storefront locations and allow new businesses to participate in the programme.

He said: “The incubator programme is designed to support emerging businesses by offering rent free space for six months, followed by subsidised rent free for another six months. This approach helps to identify and nurture businesses with growth potential, providing them with a launching pad for future success. It’s our hope, that with this support, they find their sea legs and move into storefronts of their own, creating a pathway for more entrepreneurs to be developed.

“We are providing a space for young Bahamian entrepreneurs, six months rent free, so that they will expand and so that they will grow. But we don’t want them to drop anchor here, we want them to abandon us, we want them to grow and we want them to expand beyond the space that we can afford to provide for them.”

Mr Cooper said the initiative will be expanded into other Family Islands and is a “direct counter” to critics skeptical about the benefits of the tourism sector to all Bahamians.

He said: “This initiative is a direct counter to any skepticism about the inclusivity of the tourism sectors benefit to Bahamians from all walks of life.

“Looking ahead, we are excited about the possibility of expanding this program here in Nassau.

And we’re going to extend it to Grand Bahama, Exuma and beyond to other family islands, bringing more opportunities to entrepreneurs across The Bahamas. This is the model to be followed.”

Non-cash payments encouraged after crime warnings to tourists

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he is assured that a “winwin” partnership will continue. He said: “We have a we have a great industry. We have great stakeholders in this industry. We have great partners. Our army of partners include the cruise lines and we bring significant level of value and attractiveness to their product.

FROM PAGE B1

homeowners, and guests, and we are excited this vision is resonating with our buyers.”

The 2024 residential collection at Jack’s Bay features 12 Atlantic Club

“We have the hotels and the airlines that have worked with us hand in hand and I am confident that based on the dialogue that I have been having directly with the CEOs of cruise lines that the message is clear that we want a win-win partnership. A win-win partnership for Bahamians, and a win-win partnership for Bahamian

Cottages and Phase 1 of the Nicklaus Village residences both designed by RAD Architecture, with four-bedroom or six-bedroom cottages, ranging from 2,264 to 4,202 square feet. The four-bedroom cottages start at $2m and

entrepreneurs. So I believe that we are on the same page as to what we would like to see moving forward, we will continue to move in this direction. And I am eternally confident that Bahamians will continue to experience the bounty of the tourism industry.”

He said that by utilising new technology such as the StreetSmart app, visitors

have 4.5 bathrooms, and the six-bedroom cottages start at $3.25m and have 6.5 bathrooms. These 12 cottages surround the Atlantic Clubhouse and each feature a covered outdoor terrace and pool. Phase I of the Nicklaus Village residences

will be able to access internet and explore areas in New Providence that need more traffic.

He said: “So yes, we have gotten some concern in certain pockets that we need more tourists to visit those areas. We’ve heard in some straw markets in Paradise Island, Cable Beach for example.

“We’re using technology like the new street-smart app to push the message of tourism all across the smart city network that we have launched. Which gives in the first instance free internet to all of our tourists from Potters Cay all the way to Arawak Cay and onward to Cable Beach to let them know what the possibilities are.”

Sold out - Jack’s Bay offering snapped up Kwasi: Make sure $2bn investment felt by GB

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is the shovels in the ground and what Bahamians can feel.

Mr Thompson said he believes there is more the Davis administration could and should be doing to accelerate the pace of revitalisation of Grand Bahama.

In the meantime, he called for the government to do several things, including removing all roadblocks to ensure investments move quickly from approvals to shovel in the ground and implementing a paid training programme for skills required in Grand Bahama in conjunction with all the potential investors.

He is also calling on the government to encourage the Grand Bahama Port Authority to approve micro-business licences for companies without the need for physical spaces with a $100 fee.

He wants the government to work with the GBPA to ensure vendors/peddlers permits are liberalised

will include two-bedroom and three-bedroom options, as well as four-bedroom and five-bedroom two-storey villas. Phase I at Jack’s Bay is slated for completion late this year, including the Atlantic Clubhouse and

further to permit a wider range of businesses to take advantage of the new developments and work with the Small Business Development Center, GBPA, and industry to agree to centralise maritime training and business development on the island to take advantage of new maritime developments.

US lawmakers say TikTok won’t be banned if it finds a new owner. But that’s easier said than done

By MATT O'BRIEN AP Technology Writer

U.S. lawmakers are threatening to ban TikTok but also say they are giving its Chinese parent company a chance to keep it running.

The premise of a bipartisan bill headed for a vote in the U.S. House of Representatives is that TikTok fans in the U.S. can keep scrolling through their favorite social media app so long as Beijing-based ByteDance gives up on owning it.

"It doesn't have to be this painful for ByteDance," U.S. Rep. Raja Krishnamoorthi, an Illinois Democrat and bill co-sponsor, recently posted on X. "They could make it a lot easier on themselves by simply divesting @tiktok_us. It's their choice."

LEGAL NOTICE

N O T I C E

S.P.I. DISTRIBUTION LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) S.P.I. DISTRIBUTION LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the 8th day of March 2024 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is Gustaaf. Meijers, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A.

Dated the 13th day of March, 2024

HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

LEGAL NOTICE

N O T I C E

SOUTH PACIFIC REFINING LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) SOUTH PACIFIC REFINING LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the 8th day of March 2024 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is Gustaaf. Meijers, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A.

Dated the 13th day of March, 2024

HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

But it's not going to be as simple as lawmakers are making it sound, according to experts.

While some people have voiced an interest in buying TikTok's U.S. business — among them "Shark Tank" star Kevin O'Leary — there are a number of challenges including a 6-month deadline to get it done.

"Somebody would have to actually be ready to shell out the large amount of money that this product and system is worth," said Stanford University researcher Graham Webster, who studies Chinese technology policy and U.S.-China relations. "But even if somebody has deep enough pockets and is ready to go into negotiating to purchase, this sort of matchmaking on acquisitions is not quick."

Big tech companies could afford it but would likely face intense scrutiny from antitrust regulators in both the U.S. and China. Then again, if the bill actually becomes law and survives First Amendment court challenges, it could make TikTok cheaper to buy.

"One of the main effects of the legislation would be to decrease the sale price," said Matt Perault, director of the University of North Carolina's Center on Technology Policy, which gets funding from TikTok and other tech companies. "As you approach that 180-day clock, the pressure on the company to sell or risk being banned entirely would be high, which would mean probably the acquirers could get it at a lower price."

The bill calls for prohibiting TikTok in the

N O T I C E

SOUTH PACIFIC REFINING LIMITED

Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 8th day of April, A.D., 2024. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator.

Dated the 13th day of March, A.D., 2024

Gustaaf Meijers Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

N O T I C E

S.P.I. DISTRIBUTION LIMITED

Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 8th day of April, A.D., 2024. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator.

Dated the 13th day of March, A.D., 2024

Gustaaf Meijers

Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

pool, Spa Village, four of the Atlantic Club Cottages, and the groundbreaking of Phase 1 of the Nicklaus Village.

The Tiger Woods golf course is already complete and the 18-hole Nicklaus Heritage™ course will begin construction in March with an estimated completion in 2025.

Finally, he said the government must provide funding and support to the University of the Bahamas Northern campus and ensure that it is a catalyst for developing and attracting technology incubators, labs, and research facilities, as well as start-up and established technology and logistics companies.

security laws that compel organizations to assist with intelligence gathering.

U.S. but makes an exception if there's a "qualified divestiture." That could only happen if the U.S. president determines "through an interagency process" that TikTok is "no longer being controlled by a foreign adversary," according to the bill. Not only that, but the new U.S.-based TikTok would have to completely cut ties with ByteDance. That includes no more "cooperation with respect to the operation of a content recommendation algorithm or an agreement with respect to data sharing."

It reflects longstanding concerns that Chinese authorities could force ByteDance to hand over data on the 170 million Americans who use TikTok. The worry stems from a set of Chinese national

It's an unusual bill in the way that it targets a single company. Typically, a government group led by the Treasury secretary called the Committee on Foreign Investment in the United States, or CFIUS, will review whether such a sale would pose any national security threats.

Yes. The Trump administration brokered a deal in 2020 that would have had U.S. corporations Oracle and Walmart take a large stake in TikTok on national security grounds.

The deal would have also made Oracle responsible for hosting all TikTok's U.S. user data and securing computer systems to ensure national security requirements are satisfied. Microsoft also made a failed bid for TikTok that its CEO Satya Nadella later described as the "strangest thing I've ever worked on."

MOST AUTOMATED DRIVING SYSTEMS ARE LOUSY AT MAKING SURE DRIVERS PAY ATTENTION, INSURANCE GROUP SAYS

By TOM KRISHER

AP Auto Writer

MOST electronic systems that take on some driving tasks for humans don't adequately make sure drivers are paying attention, and they don't issue strong enough warnings or take other actions to make drivers behave, according to an insurance industry study published Tuesday.

Only one of 14 partially automated systems tested by the Insurance Institute for Highway Safety performed well enough to get an overall "acceptable" rating. Two others were rated "marginal," while the rest were rated "poor." No system received the top rating of "good."

"Most of them don't include adequate measures to prevent misuse and keep drivers from losing focus on what's happening on the road," said IIHS President David Harkey.

The institute, Harkey said, came up with the new ratings to get automakers to follow standards, including how closely they watch drivers and how fast the cars issue warnings if drivers aren't paying attention.

It also says it is trying to fill a "regulatory void" left by inaction on the systems from the U.S. National Highway Traffic Safety Administration. Harkey said the agency needs to do more to set standards for the systems, which are

not able to drive vehicles themselves.

The agency said Tuesday that it welcomes the IIHS research and will review the report. IIHS safety ratings are closely followed by automakers, which often make changes to comply with them.

The 14 systems, which include several variations from single automakers, are among the most sophisticated now on the market, Harkey said. Only one of the systems, Teammate in the Lexus LS, earned the adequate rating.

General Motors' Super Cruise in the GMC Sierra and Nissan's Pro-Pilot Assist with Navi-Link in the Ariya electric vehicle were rated marginal.

Other systems from Nissan, Tesla, BMW, Ford, Genesis, Mercedes-Benz and Volvo were rated poor.

Harkey said the driving systems initially were combinations of safety features such as automatic emergency braking, lane departure warnings, lane centering and blind-spot detection. But now they give drivers the chance to not pay attention for some period of time, raising safety risks, he said in an interview.

"That's why the focus is on how do we make sure that the driver remains focused on the driving task," Harkey said.

Some automakers, he said, market the systems in a way that drivers could think they are fully autonomous. "The one thing we do not want is for drivers to misinterpret what these things can or cannot do," he said.

The systems, IIHS said, should be able to see if a driver's head or eyes are not directed on the road, and whether their hands are on the wheel or ready to grab it if necessary.

The institute also said if a system doesn't see a driver's eyes on the road or hands aren't ready to steer, there should be audible and visual alerts within 10 seconds. Before 20 seconds, the system should add a third alert or start an emergency procedure to slow down the vehicle, the institute said.

Automakers should also make sure safety systems such as seat belts and automatic emergency braking are activated before the driving systems can be used, it said.

None of the 14 systems met all the driver monitoring requirements in the test, but Ford's came close, the group said.

Lexus' Teammate system and GM's Super Cruise met the warning requirements, while systems from Nissan and Tesla were close.

Harkey said automakers already are responding to the tests and preparing

Legal Notice NOTICE

International Business Companies Act No.45 Of 2000

Notice is hereby given that, in accordance with

Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of ARAM PLAINES LIMITED

a Certifcate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 12th day of February, 2024.

Delio José De León Mela Liquidator

changes, many of which can be accomplished with software updates.

Toyota, which makes Lexus vehicles, said it considers IIHS ratings in setting up safety standards, while GM said the IIHS ratings are important. Nissan said it will work with the institute.

Mercedes said the company said it takes the findings seriously, and it relies on the system collaborating with the driver, while Hyundai luxury brand

Genesis said it is quickly improving its system, including the addition of an in-cabin camera. Volvo said it supports IIHS efforts to reduce misuse of driver assist systems BMW said it respects IIHS's efforts, but it differs philosophically about how systems should monitor drivers. One BMW system evaluated by IIHS is not intended for drivers to take their hands off the wheel and only considers input from steering wheel

sensors. BMW tests have not found a clear advantage in turning on the driver monitoring camera, the company said. Another more sophisticated system intended for drivers to take hands off the steering wheel uses a camera to watch drivers, the company said. Ford said its Blue Cruise system monitors drivers and sends repeated warnings. The company said it disagrees with IIHS' findings but will consider its feedback in updates.

By DEEPTI HAJELA Associated Press

IT'S been a common refrain when seeking proof that someone's story or some event actually took place: "Pics, or it didn't happen."

But in a world where the spread of technology makes photo manipulation as easy as a tap on your phone, the idea that a visual image is an absolute truth is as outdated as the daguerreotype. And a photo can sometimes raise as many questions as it was meant to answer.

That was seen in recent days when controversy descended upon an image

Legal Notice NOTICE

International Business Companies Act No.45 Of 2000

M.D.G. ENTERPRISES LTD. (the “Company”)

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of M.D.G. ENTERPRISES LTD. has been completed, a Certifcate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 22nd day of February, 2024.

MR. GAD DAVID TISCH Liquidator

NOTICE

TELOSTAT ADMINISTRATION LTD (Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the above-named Company is in dissolution, which commenced on the 7th day of March, A.D., 2024. The Liquidator is Galnom Ltd., CUB Financial Center, Western Road, Nassau, Bahamas.

GALNOM LTD. Liquidator

of Kate, Princess of Wales, and her three children. News agencies including The Associated Press published, then retracted, the image given out by Kensington Palace over concerns it had been manipulated, leading to Kate saying on social media that she occasionally "experimented" with photo editing.

In that, she's hardly alone. From something that was time-consuming and required a great deal of technical expertise in the days of actual film and darkrooms, digital editing has become something practically anyone can do, from adding filters to cropping images and much more.

Apps abound, offering the easiest of experiences in creating and retouching photos and videos which can then be easily transmitted online and through social media.

"Cover blemishes and let the real you shine through," says an ad for the smartphone app Facetune. "Remove and change backgrounds instantly," the Fotor app's website enthuses. "Our AI object remover is ready to assist you in getting rid of unwanted objects."

This Wild West of imagealtering abilities is opening new frontiers for everyday people — and creating headaches for those who expect photos to be a documentary representation of reality.

Photojournalists and major news organizations

follow standards and ethics codes around photos. These organizations typically place an absolute premium on image authenticity and reject photographs that have been altered in any way. But efforts to identify altered imagery can be impeded by the increasingly easy-to-use apps for phones and computers that allow anyone to chip away, piece by piece, at what a camera actually recorded.

The mainstreaming of manipulation, placing such abilities at people's fingertips, has made for some interesting and viral moments — like the one in March 2023 when an artificially generated image of Pope Francis wearing a puffy white coat took in many people who thought it was real.

But there are risks and dangers to a world where just because you see something doesn't mean you can absolutely believe it, said Ken Light, a photojournalism professor at the University of California Berkeley's Graduate School of Journalism.

"The role of photography has been to witness and to record for the moment, but also for history. And I don't think any of us know where it's going," he said. The rise of visual manipulation that casts doubt on whether something is real or not "frays the fabric of the culture tremendously in the moment but also for the future."

default thereof they may have excluded from the beneft of any distribution made before such claim is approved.

GSO Corporate Services Ltd., of 303 Shirley Street, Nassau,

Bahamas is the Liquidator of ABACODY, LTD.

Photo:Damian Dovarganes/AP

ADOBE PHOTOSHOP, Lightroom and Bridge program windows are seen on a computer screen, Tuesday, March 12, 2024, in New York. In a world where the spread of technology makes photo manipulation easy, a photo can sometimes raise as many questions as it was meant to answer. That was seen in recent days when controversy swirled around an image of Kate, Princess of Wales, and her three children.

Photo:Sydney Schaefer/AP

US SPEARHEADS FIRST UN RESOLUTION ON ARTIFICIAL INTELLIGENCE — AIMED AT ENSURING EQUAL ACCESS

By EDITH M. LEDERER

Associated Press

THE United States is spearheading the first United Nations resolution on artificial intelligence, aimed at ensuring the new technology is "safe, secure and trustworthy" and that all countries, especially those in the developing world, have equal access.

The draft General Assembly resolution aims to close the digital divide between countries and make sure they are all at the table in discussions on AI — and that they have the technology and capabilities to take advantage of its benefits, including detecting diseases, predicting floods and training the next generation of workers.

The draft recognizes the rapid acceleration of AI development and use and stresses "the urgency of achieving global consensus on safe, secure and trustworthy artificial intelligence systems." It also recognizes that "the governance of artificial intelligence systems is an evolving area" that needs further discussions on possible governance approaches.

U.S. National Security Advisor Jake Sullivan said the United States turned to the General Assembly "to have a truly global conversation on how to manage

the implications of the fastadvancing technology of AI."

The resolution "would represent global support for a baseline set of principles for the development and use of AI and would lay out a path to leverage AI systems for good while managing the risks," he said in a statement to The Associated Press.

If approved, Sullivan said, "this resolution will be an historic step forward in fostering safe, secure and trustworthy AI worldwide."

The United States began negotiating with the 193

U.N. member nations about three months ago, spent hundreds of hours in direct talks with individual countries, 42 hours in negotiations and accepted input from 120 nations, a senior U.S. official said. The resolution went through several drafts and achieved consensus support from all member states this week and will be formally considered later this month, the official said, speaking on condition of anonymity because he was not authorized to speak publicly. Unlike Security Council resolutions, General

Assembly resolutions are not legally binding but they are an important barometer of world opinion.

A key goal, according to the draft resolution, is to use AI to help spur progress toward achieving the U.N.'s badly lagging development goals for 2030, including ending global hunger and poverty, improving health worldwide, ensuring quality secondary education for all children and achieving gender equality.

The draft resolution encourages all countries, regional and international organizations,

THE SYMBOL of the United Nations is displayed on the main gate outside UN headquarters, Feb. 24, 2022, in New York. The United States is spearheading the first United Nations resolution on artificial intelligence, aimed at ensuring the new technology is “safe, secure and trustworthy” and that all countries, especially those in the developing world, have equal access. The draft General Assembly resolution aims to close the digital divide between countries and make sure they are all at the table in discussions on AI.

technical communities, civil society, the media, academia, research institutions and individuals "to develop and support regulatory and governance approaches and frameworks" for safe AI systems. It warns against "improper or malicious design, development, deployment and use of artificial intelligence systems, such as without adequate safeguards or in a manner inconsistent with international law."

Lawmakers in the European Union are set to give final approval to the world's first comprehensive AI rules on Wednesday. Countries around the world, including the U.S. and China, or global groupings like the Group of 20 industrialized nations also are moving to draw up AI regulations.

The U.S. draft calls on the 193 U.N. member states and others to assist developing countries to access the benefits of digital transformation and safe

mean, (the Times) probably have like millions of people (playing) their game, and there's like hundreds or thousands of people playing mine."

AI systems. It "emphasizes that human rights and fundamental freedoms must be respected, protected and promoted throughout the life cycle of artificial intelligence systems."

U.S. Ambassador Linda Thomas-Greenfield recalled President Joe Biden's address to the General Assembly last year where he said emerging technologies, including AI, hold enormous potential.

She said the resolution, which is co-sponsored by dozens of countries, "aims to build international consensus on a shared approach to the design, development, deployment and use of AI systems," particularly to support the 2030 U.N. goals.

The resolution responds to "the profound implications of this technology," Thomas-Greenfield said, and if adopted it will be "an historic step forward in fostering safe, security and trustworthy AI worldwide."

hundreds of people have been notified through GitHub since.

By WYATTE GRANTHAM-PHILIPS and GAETANE LEWIS

Associated Press

THE New York Times is fighting off Wordle "clones" — arguing that numerous games inspired by the mega-popular word-guessing game infringe on its copyright protections.

Hundreds of copycats have emerged since Wordle skyrocketed to internet fame less than three years ago. And now the Times, which purchased the game in 2022, is sending takedown notices to people behind some of the look-alikes.

The Times has filed several Digital Millennium Copyright Act, or

DMCA, takedown notices to developers of Wordleinspired games, which cited infringement on the Times' ownership of the Wordle name, as well as its look and feel — such as the layout and color scheme of green, gray and yellow tiles.

In a prepared statement, a New York Times Co. spokesperson said the company has no issue with people creating similar word games that do not infringe its Wordle "trademarks or copyrighted gameplay." But the company took action against one user on software developer platform GitHub who created a "Wordle clone" project that included instructions on how to create "a knock-off

version" of Wordle, and against others who shared his code.

"As a result, hundreds of websites began popping up with knock-off 'Wordle' games that used The Times' 'Wordle' trademark and copyrighted gameplay without authorization or permission," the spokesperson said.

GitHub gave the user an opportunity to alter the code and remove Wordle references, the spokesperson added, but he declined.

The Times' DMCA takedown notices were first reported by tech outlet 404 last week. Numerous impacted developers have also taken to social media to share their frustrations. Many said that their games,

which range from Wordlelike offerings in other languages to more guessing games, would be taken down as a result.

Vignesh Venkat, a California-based software engineer, said he built his variant of Wordle several years ago, when the game first gained popularity. His game, Hardle, was initially created for a friend's gender reveal event — where guests encouraged him to put it online for public consumption.

Venkat said he had since forgotten about his game, only playing it sporadically in recent years when reminded by friends. "I don't know what they're really going to get out of this," he said. "I

Robert Brauneis, a professor of intellectual property law at George Washington University's Law School, added that a German-language Wordle spinoff that he and his wife used to play, which was once found at "wordle. at," appeared to have been removed in the last week or two — suggesting that it may have also received a takedown notice. As of Monday, a message on wordle.at's site, now named "Gridgames," says the game was voluntarily removed after receiving a "complaint with reference to US trademark law."

The Times' spokesperson told The Associated Press Monday that the company first contacted GitHub on Jan. 2 about the infringement issues — noting that

In a statement to the AP, a GitHub spokesperson said the platform reviews "all DMCA takedown requests thoroughly" and gives affected users an opportunity to make changes before processing them. DMCA notices act as a tool for copyright holders to get content that infringes on their intellectual property taken down. Impacted users can still fight to keep what they published up, but that opens up the possibility for costly litigation. As a result, many don't dispute takedowns.

Still, Brauneis said he believes the Times' arguments for Wordle copyright infringement are on "a little bit shaky ground" for several reasons. Rules of a game, for example, are not covered by copyright — and that can include the layout of the game itself, he said.

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Photo:John Minchillo/AP

TSA unveils passenger self-screening lanes at Vegas airport as ‘a step into the future’

By KEN RITTER Associated Press

FEDERAL airport security officials unveiled a passenger self-screening system Wednesday at busy Harry Reid International Airport in Las Vegas, but say they do not plan to use it in other cities around the country.

"How do we step into the future? This is a step," said a system designer, Dimitri Kusnezov, science and technology under secretary at the U.S. Department of Homeland Security. "The interface with people makes all the difference."

The Transportation Security Administration checkpoint — only in Las Vegas, only for TSA PreCheck customers and only using the English language — incorporates a screen with do-it-yourself instructions telling people how to smoothly pass themselves and their carry-on luggage through pre-flight screening with little or no help from uniformed TSA officers.

"We want to avoid passengers having to be patted down," said John Fortune, program manager of the Department of Homeland Security's "Screening at Speed" program and a developer with Kusnezov of the prototype.

Instead of a boxy beltfed device using a stack of gray trays, the futuristic-looking baggage and personal belongings inspection system looks like a scaled-down starship medical magnetic resonance imaging machine that uses an automated bin return belt.

Travelers step into a separate clear glass body scanning booth with a video display inside showing how to stand when being sensed with what officials said is the type of "millimeter wave technology" already

in use around the country. A reporter found it sensitive enough to identify a forgotten handkerchief in a pocket. He did not have to remove his shoes.

"Really, one of the main aims here is to allow individuals to get through the system without necessarily having to interact directly with an officer and ... at their own pace," said Christina Peach, a TSA administrator involved in the system design. "It's also about not feeling rushed."

Nationally, nearly all passengers who pay to enroll in the TSA PreCheck program pass through screening in 10 minutes or less, agency spokesman R. Carter Langston said, while regular traveler and carryon screening takes about 30 minutes.

Peach said eight uniformed TSA officers might be needed to staff two lanes of the new system, compared with 12 officers in lanes today.

However, Kusnezov and Karen Burke, TSA federal security director in Nevada, said agents including union members would just be freed from handson screening to focus more attention on broader security concerns. "No one is going to lose their job," Burke said.

Fortune declined to estimate the cost of designing the system, but he said the type of scanners used were similar to ones already deployed around the country.

Officials said they'll time how quickly travelers pass through the prototype during evaluations this year.

Testing is being done at a unique-in-the-nation "innovation checkpoint" that TSA unveiled in 2019 in a sprawling international arrivals terminal that opened in 2012 at Harry Reid airport. It already

features screening lanes with instruction displays and estimated wait times.

"This change in technology is for people who want to get through a checkpoint faster," said Keith Jeffries, a former TSA director at Los Angeles International Airport and now vice president of K2 Security Screening Group, a company that installs screening systems at shipping ports including airports. "It'll be a great step, but I anticipate it will be for the experienced passengers."

Jeffries, in an interview with The Associated Press, compared the new system to self-checkout lanes that were introduced in the 1980s and are now common at supermarkets across the nation. He recalled that some shoppers initially avoided scanning their own purchases.

"It's going to take time to educate the public," he said of the TSA screening lanes. "You're going to have a new generation of travelers that just wants to get through with the least amount of hassle and delay. I think eventually we'll see more and more of them."

Harry Reid International Airport was the seventhbusiest passenger airport in the U.S. in 2022, ranked by Airports Council International behind New York's John F. Kennedy International Airport. In 2023, the Las Vegas airport handled a new record of 57.6 million arriving and departing passengers.

The Transportation Security Administration reported its busiest day ever at the airport last month, screening nearly 104,000 travelers and their luggage as they headed for airline flights Feb. 12, the day after the NFL Super Bowl was played at Allegiant Stadium.

NEW TSA screening equipment at Harry Reid International Airport is displayed, Wednesday, March 6, 2024, in Las Vegas.

Photo:Ty ONeil/AP

BOEING PROMISES CHANGES AFTER GETTING POOR GRADES IN A GOVERNMENT AUDIT OF MANUFACTURING QUALITY

By DAVID KOENIG AP Airlines Writer

RESPONDING to a

U.S. government audit, Boeing said Tuesday that it would work with employees found to have violated company manufacturing procedures to make sure

they understand instructions for their jobs. The aircraft maker detailed its latest steps to correct lapses in quality in a memo to employees from Stan Deal, president of Boeing's commercial plane division.

N O T I C E

GOLDEN VALLEY HOLDINGS LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) GOLDEN VALLEY HOLDINGS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Leeward Nominees Limited, of Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, British Virgin Islands.

Dated this 13th day of March, A. D. 2024

Leeward Nominees Limited Liquidator

N O T I C E

MANON LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) MANON LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Leeward Nominees Limited, of Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, British Virgin Islands.

Dated this 13th day of March, A. D. 2024

Leeward Nominees Limited Liquidator

The memo went out after the Federal Aviation Administration finished a six-week review of the company's manufacturing processes for the 737 Max jetliner after a panel blew off one of the planes during an Alaska Airlines flight on Jan. 5.

The FAA reviewed 89 aspects of production at Boeing's plant in Renton, Washington, and found the company failed 33 of them, according to a person familiar with the report. The person spoke on condition of anonymity to discuss details that have not been

N O T I C E

BRIGHTLIGHTS HK HOLDING COMPANY LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) BRIGHTLIGHTS HK HOLDING COMPANY LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Leeward Nominees Limited, of Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, British Virgin Islands.

Dated this 13th day of March, A. D. 2024

Leeward Nominees Limited Liquidator

N O T I C E

EXCEL VENTURE HOLDINGS LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) EXCEL VENTURE HOLDINGS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Dated this 13th day of March, A. D. 2024

Bukit Merah Limited Liquidator

publicly released – although they were reported earlier by The New York Times, which saw a slide presentation on the government's audit.

"The vast majority" of violations found by the FAA involved workers not following Boeing's approved procedures, Deal said in his memo.

Deal said the company will take remedial steps that include "working with each employee noted with a noncompliance during the audit to ensure they fully understand the work instructions and procedures."

Boeing will also add weekly compliance checks for all work teams in the

Renton factory, where Max jets are assembled, he said.

Deal acknowledged a recent conclusion by a panel of government and industry experts that found Boeing's procedures for ensuring safety were too complicated and changed too often.

"Our teams are working to simplify and streamline our processes and address the panel's recommendations," he told staff.

The day before the blowout on Alaska Airlines flight 1282, engineers and technicians at the airline wanted to remove the plane from service to examine a warning light tied to the plane's pressurization system, but the airline kept flying the plane and scheduled a maintenance check for late the following night, The New York Times reported Tuesday. Before that could happen, however, a doorplug panel blew off the jet 16,000 feet (4,800 meters) over Oregon.

N O T I C E

MUMOOS TWENTY ONE LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) MUMOOS TWENTY ONE LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas.

Dated this 13th day of March, A. D. 2024

Bukit Merah Limited Liquidator

N O T I C E

THINK WISDOM LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) THINK WISDOM LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas.

Dated this 13th day of March, A. D. 2024

Bukit Merah Limited Liquidator

N O T I C E

HMG GALAXY STAR LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) HMG GALAXY STAR LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Dated this 13th day of March, A. D. 2024

Bukit Merah Limited Liquidator

N O T I C E

WH FOREVER FAMILY LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) WH FOREVER FAMILY LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 11th March, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas.

Dated this 13th day of March, A. D. 2024

Bukit Merah Limited Liquidator

Wall Street rallies to a record as Big Tech stocks renew their run

By STAN CHOE AP Business Writer

U.S. stocks rallied to records Tuesday, led again by technology companies, as some of Wall Street's most influential got back in their groove.

The S&P 500 jumped 1.1% to top its all-time high set last week. The Dow Jones Industrial Average climbed 235 points, or 0.6%, and the Nasdaq composite jumped 1.5%.

All three indexes began the day with losses after a highly anticipated report on inflation said U.S. consumers paid prices that were a bit higher last month than economists expected. The worse-than-expected data kept the door closed on hopes that the Federal Reserve could deliver longsought cuts to interest rates at its meeting next week.

But the inflation figures were still close to expectations, and traders held onto hopes that the longerterm trend downward

means the Fed will begin the hoped-for cuts in June. That helped stock indexes to reverse their losses as the day progressed. Plus, inflation may not be as hot in reality as the morning's report suggested.

"January and February are notoriously noisy months for a lot of economic data," said Brian Jacobsen, chief economist at Annex Wealth Management.

"The Fed wasn't planning on cutting rates next week, and this report doesn't change that. The discussion around the table will be more about the longer-term trend." The fear is "sticky" inflation that refuses to go down will force the Fed to keep interest rates high, which grinds down on the economy and investment prices. The Fed's main interest rate is already at its highest level since 2001.

"Another hotter-thanexpected CPI reading may breathe new life into the

sticky inflation narrative, but whether it actually delays rate cuts is a different story," said Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.

For months, traders on Wall Street have been trying to get ahead of the Federal Reserve and guess

when cuts to rates will arrive. They have already sent stock prices higher and bond yields lower in anticipation of it.

Through it all, the Fed has remained "nothing if not consistent in doing what it said it would do," Larkin said. "Until they say otherwise, their plan is to cut

rates in the second half of the year."

The immediate reaction across financial markets to the inflation data was nevertheless halting and uncertain.

In the bond market, Treasury yields initially dropped and then swung higher. The yield on the 10-year Treasury eventually rose to 4.15% from 4.10% late Monday.

The price of gold, which has shot to records on expectations for coming rate cuts, also swung. An ounce for delivery in April ended up falling $22.50 to settle at $2,166.10. A measure of nervousness among U.S. stock investors, meanwhile, eased more than 8% after squiggling up and down a few times.

On Wall Street, big technology stocks did much of the market's heaviest lifting. Oracle jumped 11.7% after reporting stronger profit for the latest quarter than analysts expected.

Nvidia also rallied 7.2% to bounce back from a rare two-day stumble. A frenzy on Wall Street around artificial-intelligence technology has caused its stock to swell in size, making it one of the most influential on the market. It was the single strongest force pushing the S&P 500 upward on Tuesday.

New York Community

Bancorp rose 5.8% after it said it closed its previously announced deal to raise roughly $1.05 billion in cash from the sale of stock. The bank has been struggling under the weight of falling prices for commercial real estate and the growing pains associated with prior acquisitions it made. Its troubles have also led to worries about the broader regional banking industry.

3M climbed 5% after it said Bill Brown, the former chairman and CEO of L3Harris Technologies, will take over as its CEO at the start of May.

A STREET

Photo:Seth Wenig/AP