THURSDAY, MAY 22, 2025
$3.4m resort to help revive Cat Island
By FAY SIMMONS Tribune Business Reporter
DEVELOPERS of a new $3.4m development, set to open in Cat Island next month ahead of the island’s annual Rake and Scrape Festival, said the resort will play a key role in the island’s economic and cultural revitalisation.
Vince McDonald, owner of Curly’s Beach Resort, said the first phase of the resort will include seven villas, a restaurant, and a beach club, and will initially employ 11 local employees. He said Cat Island’s economy is growing, and with the ongoing infrastructural upgrades, the number of visitors is expected to increase significantly.
“Cat Island is on the move! We have two new international airports under construction, the road works are going on, the water mains are being installed. Things are really looking up and this resort is just another piece of the Cat Island’s revitalisation,” said Mr McDonald.
“We’re expecting domestic and international guests. This first phase is going to have the restaurant, seven villas and the beach club and we want everyone to come down and enjoy Cat Island.”
The resort is located on the site of the former Sammy T’s Beach Resort in Bennett’s Harbour, which has been closed for over a decade, and will cater to families, groups, and couples.
Mr. McDonald said he has invested about $3.4m thus far to acquire the property and undergo renovations to the existing structures.
PM wants ‘generational’ shift over land reform
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
THE government’s land reform legislation promises a generational shift in the management and security of land ownership in The Bahamas, according to Prime Minister Philip Davis.
Mr Davis said the Land Adjudication Bill and Land Registration Bill will bring a “complete overhaul” to the way land ownership is recorded and determined in the country, and that the new system will bring clarity and “justice”.
Speaking at the Bahamas Parliamentary Land Reform Consultation yesterday, Mr Davis said that while previous administrations have acknowledged the failures in the land system, they did not act to change the legislation. He said the current
• Land reform promises clarity, justice for Bahamian property rights
• Adjudicators to resolve claims, ensure fair property access.
• Bahamians to gain mortgage access with titled land
administration has a “responsibility” to correct it.
“We know the consequences of delay: Bahamians left without clear title to their land, unable to pass it on, unable to develop it, unable to access credit using land as security. We know that disputes drag on in court for years,” said Mr Davis.
“We know the cost not just financially, but emotionally for families caught in uncertainty. And we know that those with deep pockets and clever attorneys have often found ways to manipulate
a chaotic system to their advantage. We now, have a responsibility and an opportunity to change all of that.”
Mr Davis said that under the new title-based registry, each parcel of land will receive a unique identification number and owners will be issued legal certificates that serve as “indisputable” proof of ownership.
“Adjudicators supported by teams on the ground will visit communities, hear claims, assess evidence, and resolve disputes through an independent Land Tribunal.
Once claims are settled, the land can be officially registered and secured,” said Mr Davis.
“This means: No more overlapping claims. No more land locked in legal limbo. No more families unable to access mortgages or sell property. And no more generations
Yntegra defends record amid claims of ‘misinformation’
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
THE Yntegra Group has hit out at what it claims is “misinformation” about the $200m Rosewood Exuma Resort project.
The response comes in the wake of comments by the Save Exuma Alliance, with founding member David Hocher, also owner of Staniel Cay Yacht Club and Makers Air, questioning whether the
Rosewood project was a right fit for Big Sampson Cay or if a development of that scale belonged elsewhere.
Mr Hoher also claimed inconsistencies between the plan for the site and what some of Yntegra’s principals have said in public meetings. He said: “If the public, like myself, can’t look at a plan made available by Physical Planning and have confidence in it, what else will we not have confidence in? It’s a big issue.”
Addressing environmental concerns, Yntegra Group maintained that its partner has obtained a Global Sustainable Tourism Council (GSTC) certification.
“We take environmental concerns very seriously. It is part of the lives and livelihoods of Exumians,” Yntegra said.
“Yntegra and its resort partner share the core values of effective sustainable management and environmental responsibility. Yntegra is
collaborating on a $200M project with a global, awardwinning, ultra-luxury resort partner that has a proven track record in responsible development and environmental sustainability and received a Global Sustainable Tourism Council (GSTC) certification.” Yntegra added: “We have teams of best-in-class environmental consultants and engineers working with us.
Imports up and exports down according to latest figures
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
NET imports last year increased by 18 percent while exports fell by 6.4 percent, according to new figures.
According to the 2024 Foreign Trade figures released by the Bahamas National Statistical Institute (BNSI) yesterday, some $4.9bn worth of goods were imported into the country last year, representing an 18 percent increase from 2023.
The BNSI report said machinery and transport equipment was the largest contributor of imports followed by food and live animals.
BY ANNELIA NIXON Tribune Business Reporter
LABOUR Minister Pia Glover-Rolle is seeking to enact into law recommendations on health and safety at work by the end of the year, according to a labour specialist. Robert Farquharson, who oversees the Ministry of Labour’s special project unit, said the stage has been set after recommendations were proposed at the National Symposium on Occupational Safety.
With the commitment to the provisions of the Decent Work Country Programme, the Ministry of Labour and the Public
“Machinery & Transport Equipment the largest contributor to imports, totaled some $1.2 b or 24 percent of all imports. This was followed closely by the category of Food & Live Animals which accounted for 17 percent or $815m,” said the BNSI report.
“Other categories that contributed significantly to total imports were Mineral Fuels, Lubricants Goods which totaled $703m, 14 percent of total imports, and Miscellaneous Manufactured Articles which accounted for almost $632m or nearly 13 percent of total imports.
The report also revealed that exports totalled
Service “have set the stage” by proposing recommendations to be submitted and read to the minister.
Mr Farquharson said the process must happen quickly so the report can be compiled and presented to
PHILIP DAVIS KC
CURLY’S BEACH RESORT
Growing interest in farmers' markets
BAHAMIANS and visitors are turning Saturday farmers' markets around New Providence into thriving small centres of commerce, and that’s a very healthy sign, says Philip Smith, executive director of the Agricultural Development Organization (ADO Bahamas).
ADO partnered with Atlantis and the Department of Agriculture and Marine Resources for the second farmers' market on Paradise Island on May 17 with the next one set for May 31. State Minister of Environment and Yamacraw
MP
hosted a rapidly growing bi-weekly farmers' market in his constituency the same day and the large farmers' market on
continues to
dreds every week. Among those
was two-time
Zane Lightbourne
Gladstone Road
attract hun-
at Paradise Island on Saturday
Olympic gold medalist Pauline Davis who shared her healthy all natural drinks with another VIP on the scene, former Royal Bahamas Defence Force Commodore, author and founder of the Lucayan Sea Campaign Commander Tellis Bethel.
PM wants ‘generational’ shift over land reform
FROM PAGE B1
waiting to inherit land they should already own.”
Mr. Davis said the land reform will benefit residents and businesses, and that implementation will play a key role in the country’s national development.
“These reforms unlock real potential. Families can pass land on to their children with confidence. Businesses can expand.
Yntegra
Developers can build. And ordinary Bahamians will finally have access to credit using land they rightfully own,” said Mr Davis.
“Colleagues, the status quo is indefensible. These reforms are a necessary step toward fairness and national development. And while we cannot undo the decades of inaction, we can and must act now with purpose and unity.”
defends record amid claims of ‘misinformation’
FROM PAGE B1
BRON, our Bahamian environmental consultants, has completed more than 1200 projects across more than 60 islands and cays in The Bahamas and the Caribbean. They are well known and well respected in The Bahamas and the region.”
Yntegra said the spread of what it claimed was false information is being used to incite “outrage and fear and casting doubt on the vital regulatory work of government agencies”.
Noting that The Department of Environmental Planning and Protection (DEPP) are “respected professionals,” Yntegra requested “that the process be allowed to proceed according to the rules and regulations and that DEPP be allowed to do their job.” They added that they have received approval of their master plan from the Town Planning Committee.
“All real estate development projects in The Bahamas follow processes that are developed and implemented by experts in the relevant areas,” Yntegra said. “This ensures that developments are in the best interest of the people of The Bahamas and will benefit everyone.
“Developments have a master plan that shows how the site will be used and the density of the buildings on the site to ensure that the land is suitable for the designated use at a particular location. Several approvals must happen before any project starts, including a Town Planning Committee review of the master plan. The review process includes the submission of a master plan, which is reviewed by the Committee, and a public consultation meeting hosted by the Committee that enables them to hear the feedback from the community firsthand.
“Yntegra followed all requirements from the Town Planning Committee. The Committee reviewed
the master plan and incorporated the feedback from the public consultation process and we obtained the approval of the master plan.”
Yntegra said approval processes are coming along and they are still undergoing the process for approval to obtain the Certificate of Environmental Clearance from DEPP.
Responding to claims by SEA, Yntegra stated that “the people behind SEA have their own motivations for pushing back on our project”.
Yntegra added: “We believe that when damaging misinformation could result in the loss of hundreds of job opportunities and hold back much-needed community development is intentionally spread, whoever is behind it should be held to account. Our focus for this project is adhering to the requirements for all the necessary government approvals, allowing those processes to take their course, while collaborating with the community in preparation for a project that will bring long-term positive economic and community benefits.”
Imports up and exports down according to latest figures
FROM PAGE B1
$689.0m in 2024 a 6.4 percent decrease from $736.16m in 2023.
“Domestic exports
$183.6m accounted for 27 percent of total exports while re-exports $505m accounted for 73 percent.
The major categories of domestic exports consisted mainly of Food and Live Animals totaling $90.1m, 49 percent of total domestic exports, and Chemicals totaling $49.8m representing 27 percent of total domestic export. Manufactured
Legislation target ‘by end of year’ on health and safety regulations
FROM PAGE B1
the minister. He said once ratified, the government has two years to enact the recommendations into law and that “she [Ms Glover-Rolle] wants this recommendation to the government by a certain period of time because the government wants to put this into law by December of this year.”
“They want to move quickly,” Mr Farquharson said. “They don’t want to wait until next year. They want to move quickly because, you know why? It deals with health and safety of the workers. There’s nothing more important than the Bahamian workers. So if you get in an accident, you will make sure put things in place so accidents won’t happen - prevent them. Typical example, how many businesses here in this country takes fire prevention serious? How many have fire extinguishers? How many have fire drills? That can be put in law. It’s not in the law.
“This is mandated... [we have to] get this done as quickly as we can, because it impacts health and safety in this country. And let me tell you how important this is. If you get hurt on the job and you can’t work, National Insurance got to pay you, they have to pay for the medical expenses.
“For the past two years, we created what we call a gap analysis. What a gap analysis did it identified all of the laws of The Bahamas that, in fact, convention 155 and 187 and what are the gaps between what’s in the law and what’s not in the law? We have that, what’s called a gap analysis, now. We want to prove that gap analysis. What’s missing? That’s why you hear all these discussions. This is not in law. Let’s put it in law. So that’s what we’re doing here today. And my unit is a special project unit. My unit has been directed to make sure this gets done. The Minister of Labor and the Public Service Minister Pia Glover has directed me as the person. She wants this recommendation to the government by a certain period of time because the government want to put this into law by December of this year.”
Mr Farquharson said the Ministry of Labour and the Public Service is facilitating the process of “ratifying” the International Labour Organization’s (ILO) conventions 155, 183 and 187.
“C155 is an establishment of a national occupation health and work with policy in The Bahamas that governs every worker in our country. C187 is establishment of the framework. The
Goods $175.9m and Miscellaneous Manufactured Articles, $130.3m together represented 61 percent of re-exports accounting for 35 percent and 26 percent respectively,” said the BNSI report. The report said the United States was the
policy says what we will do. The framework says how we will do it. And C183 is the one we’re going to do this afternoon. That deals with maternity protection for mothers and children.
“Once it’s ratified by the government, then the government has two years to put the recommendation into law. So that’s what we’re doing now. We’re putting the recommendations to the government. We say to the government, ‘In two years, we want everything we decide in the law. So, in order to do it, it comes under the version of consultation. Nothing can happen in The Bahamas unless we consult. So we are consulting with the private sector, the public sector and worker representative, to make sure that when it comes to [it] nobody can say we wasn’t involved. So over the next two days, yesterday and today, we look at the ILO, how it works in The Bahamas, how it’s effective to The Bahamas.”
Wellington Ferguson, CEO of Baha Health and Safety and a board certified safety professional managing 11 countries throughout the Caribbean, said having all the relevant parties in the same room conversing on inspections is sure to bring “a strong policy”. He said: “There are different entities throughout The Bahamas that are responsible for occupational health and safety, and the good thing is now that we have everybody in the room. Before nobody talked to each other. But
country’s top trading partner, representing 83 percent of imports and 65 percent of exports.
“The United States maintained its position as The Bahamas’ number one trading partner. While The Bahamas did a significant amount of trade with China, US Virgin Island, Japan and Panama, the United States still represented 83 percent of total imports and about 65 percent of exports,” said the BNSI.
now having that conversation around ‘What do you do’ and how we can bring it together to form a collaboration approach is definitely fruitful. Like I said, it has been, personally a vision of mine to see these entities coordinating the way they are doing with this discussion. And I feel as if we should have a strong policy coming out of this meeting.
“I was a part of group two and we dealt primarily with the entities, as well as their obligations to the overall OSH policy and programming in the country. And so you had persons from environmental health, you have persons from National Insurance Board and persons from the Department of Labour, all in the room talking about what they do and how we can make this happen.
“We definitely had a strong debate around the inspections. The inspections and the enforcement thereof. And we see that there are some things that was different based upon the National Insurance Act. There were some things that was different based upon the Bahamas Health and Safety Act. And so there was a lot of things where we identified gaps and we said, ‘Okay, this is how we can fill it, to strengthen those inspections because right now, we have the National Insurance Board, where they are reporting incidents and nothing is being done. And then we have the Department of Labour, where persons only report a concern and with reporting
$3.4m resort to help revive Cat Island
FROM PAGE B1
The second phase of the project is expected to expand on the 10-acre property the resort sits on and include an additional 15 condos and suites, as well as an infinity pool. The third phase will see the construction of condo units and a wellness facility.
“The wellness facility is going to be a game changer. People are going to be able to come down and try some of the local bush medicines and relax in a calm and beautiful environment,” said Mr. McDonald.
He said the low-density project will restore a historic Cat Island venue and provide an authentic Bahamian experience for both local and international guests.
Mr. McDonald, who is also the owner of Curly’s Restaurant and Bar, Arawak Cay, stressed the importance of local investors providing quality tourism experiences throughout The Bahamas.
“This project is important to Cat Island and to our overall tourism brand. We are providing more entertainment, more rooms and eventually I predict there will be more developments and investment on the island,” said Mr McDonald.
“We are excited, we’ll be expanding, hiring more people and we’re happy to be a part of what’s happening in Cat Island right now.”
TARGET SALES DROP IN 1ST QUARTER AND RETAILER WARNS
THEY
WILL SLIP FOR ALL OF 2025
By ANNE D'INNOCENZIO AP Business Writer
TARGET'S challenge to revive sales and its status as a cheap chic retailer just got more complicated.
The discounter announced on Wednesday that sales fell more than expected in the first quarter, and the retailer warned they will slip for all of 2025 year as its customers, worried over the impact of tariffs and the economy, pull back on spending.
Target also said customer boycotts did some damage during the latest quarter. The company, long a fierce corporate advocate for the rights of Black and LGBTQ+ people, scaled back many diversity, equity and inclusion initiatives in January after they came under attack by conservative activists and the White House. Target's retreat created another backlash, with more customers angered by the retailer's reduction of LGBTQ+-themed merchandise for Pride Month in June of 2023.
Shares fell 3.5% in midday trading Wednesday. Quarterly sales fell 2.8% from last year to $23.85 billion, and that was short of the $24.23 billion Wall Street expected, according to FactSet. Target earned $1.04 billion, or $2.27 per share, for the period ended May 3. That compares with $942 million, or $2.03 per share, in the year-ago period. Target cut its annual sales projections Wednesday. The company now expects a low-single digit decline for 2025 after projecting a 1% increase for sales in March.
It also forecast annual per-share earnings of $7 to $9, excluding gains from legal settlements this year. For the year, analysts expect earnings per share of $8.34 on sales of $106.7 billion, on average.
Comparable store sales, those from established stores and online channels, fell 3.8%. That includes a 5.7% drop in store sales and a 4.7% increase in online sales. That reverses a comparable store sales increase
of 1.5% in the previous quarter. The number of transactions across online and physical stores fell 2.4%, and the average ticket dropped 1.4%. Target said it couldn't reliably estimate the individual impact of each of the factors that were hurting its business.
Target is setting up a new office to be led by Chief Operating Officer Michael Fiddelke focused on faster decision-making to help accelerate sales growth. The company said that current Chief Strategy and Growth Officer Christina Hennington is stepping down from her position and will be in a strategic role until Sept. 7. Neil Saunders, managing director of GlobalData Retail, said Hennington had been considered a potential successor to Cornell.
"This is a tacit admission that Target isn't doing a good enough job in some areas, so we welcome it as a potential way to engineer change," Saunders wrote in a note published Wednesday. "But we caution that it can only accomplish its goals if the closed and defensive culture at Target changes for the better."
Target is also intensifying efforts to entice customers nervous about the economy. The retailer will offer 10,000 new items starting at $1 — with the majority under $20.
"We're not satisfied with these results, so we're moving with urgency to navigate through this period of volatility," Target CEO Brian Cornell told reporters on a call Tuesday. "We've got to drive traffic back into our stores or visits to our site."
Out of 35 merchandise categories that the company tracks, it's gaining or maintaining market share in only 15. The company reported some market share gains in women's swimwear, infant and toddler clothing, and active wear.
The latest results underscore Target's ongoing struggle in recent years to revive sales, particularly in nonessentials like fashion and home furnishings, as
competition grows more fierce.
Back in March, Target had outlined to investors how it was going to bring back its "Tarzhay" magic— defined by affordable but trendy offerings — by expanding its store label brands and shortening the time it takes to get products to the shelves from conception. That will help the company stay close to trends, company executives said.
But it's been a complicated feat even without the tariff trade wars. Target's shares have fallen more than 37% in the past 52 weeks.
Target rival Walmart reported strong quarterly sales last week. The nation's largest retailer said it's already raised prices on some items due to tariffs and that more price hikes are on the way this summer when the back-to-school shopping season goes into high gear. For example, car seats made in China that sell for $350 at Walmart will likely cost customers another $100, executives said.Target didn't offer specifics on tariffs' impact on prices, but said that it was looking at different ways to offset those costs like shifting sourcing. It said it should be able to offset the majority of the impacts from tariffs.
"We look at competition," Cornell told reporters. "We make adjustments literally each and every week, so we're constantly adjusting pricing. Some are going up. Some will be reduced."
President Donald Trump's threatened 145% import taxes on Chinese goods were reduced to 30% in a deal announced May 12, with some of the higher tariffs on pause for 90 days. Walmart was able to dodge some of the tariff damage other retailers are suffering because groceries account for about 60% of its U.S. business. Target is more reliant on discretionary items like clothing and accessories, with less than a quarter of its sales coming from groceries.
REPORT SAYS THICK SMOKE FILLED THE CABIN OF A DELTA PLANE THAT TOOK OFF FROM ATLANTA IN FEBRUARY
By JOSH FUNK Associated Press
THE smoke that filled the cabin of a Delta flight as it took off from the Atlanta airport in February was so thick that the lead flight attendant had trouble seeing past the first row of passengers and the pilots donned oxygen masks as a precaution.
The National Transportation Safety Board said in a preliminary report Wednesday that the plane quickly returned to the airport on the morning of Feb. 24 and evacuated all 99 people aboard. Two people sustained minor injuries during the evacuation, but no one was hurt by the smoke. Initially, the airline described the incident as just
a haze inside the Boeing 717 aircraft. A Delta spokesman said he couldn't comment during the NTSB's ongoing investigation that the airline is cooperating with.
The flight attendants reported that the smoke began near one of the doors in the front of the plane before it also started coming out of all the vents throughout the plane, according to the report. The flight attendants tried contacting the pilots but initially couldn't reach them because they were focused on emergency procedures and flying the plane.
The flight attendants assured passengers they were trained for the situation and asked them to remain calm. Shortly after the smoke appeared, the
NTSB said, the pilots got a low oil pressure alarm for the right engine, so they shut it down as they were returning to the airport. When maintenance personnel inspected that engine after the plane landed they found little or no oil in the engine.
The NTSB hasn't determined if that oil leak was the cause of the smoke. That won't be established until the agency completes its full report sometime next year. The plane was met by firefighters when it landed, and when the pilots opened the flight deck door, they "noticed a tremendous amount of smoke in the cabin, and the captain immediately ordered an evacuation," the report said.
COMMONWEALTH OF THE BAHAMAS 2023
IN THE SUPREME COURT CLE/qui/01168
Common Law & Equity Division
IN THE MATTER of the Quieting of Titles Act, 1959 AND IN THE MATTER OF THE Petition of SHELDON LOVELL BASTIAN
AND
ALL THAT piece parcel or lot of land containing Seventeen Thousand Five Hundred and Eighty-Three (17,583) Square Feet bounded on the North partially by the property of Wilfred Thompson and running thereon One Hundred and Twenty-Seven and Forty-Six Hundredths (127.46) feet and M. Ash bounded on the Northwest side by property now or formerly owned by N. Johnson and running thereon Ninety-Seven and Ninety-Three Hundredths (97.93) feet and WESTWARDLY by property now or formerly owned by Sheila Harris and running thereon Fifty-Two and Thirteen Hundredths (52.13) feet and to the South by an existing road and running thereon Seventy and Fifty Hundredths (70.50) feet and to the East by property now or formerly owned by Byron Smith and running thereon One Hundred and Seventy and Sixty-Three Hundredths (170.63) feet located in Smith’s Hill, South Andros one of the islands of the Commonwealth of The Bahamas.
NOTICE
THE QUIETING TITLES ACT 1959 Chapter 393
The Petition of Sheldon Lovell Bastian of the settlement of Smith’s Hill, South Andros one of the Islands of the Commonwealth of The Bahamas in respect of:
ALL THAT piece parcel or lot of land containing Seventeen Thousand Five Hundred and Eighty -Three (17,583) Square Feet bounded on the North partially by the property of Wilfred Thompson and running thereon One Hundred and Twenty-Seven and Forty-Six Hundredths (127.46) feet and bounded on the Northwest side by property now or formerly owned by N. Johnson and running thereon Ninety -Seven and Ninety-Three Hundredths (97.93) feet and WESTWARDLY by property now or formerly owned by Sheila Harris and running thereon Fifty-Two and Thirteen Hundredths (52.13) feet and to the South by an existing road and running thereon Seventy and Fifty Hundredths (70.50) feet and to the East by property now or formerly owned by Byron Smith and running thereon One Hundred and Seventy and Sixty-Three Hundredths (170.63) feet located in Smith’s Hill, South Andros one of the islands of the Commonwealth of The Bahamas.
The Petitioner, Sheldon Lovell Bastian claims to be the owner in possession of the free simple estate of the said land and has made application to the Supreme Court of the Commonwealth of The Bahamas under Section 3 of the Quieting Titles Act, 1959 to have his title to the said land investigated and the nature and the extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the said Act.
The Petition and filed plan of the said land may be inspected during normal office at:
1. The Registry of the Supreme Court, Bank Lane & East Street, Nassau, Bahamas.
2. The Administrator’s Office, the Bluff Smith’s Andros.
3. The Chambers of Monique V. A. Gomez & Co., The Oschloe Building, #73 East Street & Cordeaux Avenue, Nassau, Bahamas.
NOTICE is hereby given that any person having Dower or right to Dower or any Adverse Claim or claim not recognized in the Petition shall within Thirty (30) days after the appearance of the Notice herein filed in the Registry of the Supreme Court and serve on the Petitioner on the undersigned or Statement of such Claim in the prescribed form verifying by an Affidavit to be filed therewith. Failure of any such person to file and serve his/her Statement on or before the said Thirty (30) days herein will operate as a bar to such claim Monique V A.
A SHOPPER wheels a cart through the parking lot after making a purchase at the Target store, Monday, Feb. 27, 2023, in Salem, N.H. Target is recalling almost 5 million candles over laceration and burn hazards, according to a Thursday notice published by the U.S. Consumer Product Safety Commission.
Photo:Charles Krupa/AP
Why are more shoppers struggling to repay ‘buy now, pay later’ loans?
By CORA LEWIS Associated Press
MORE Klarna customers are having trouble repaying their "buy now, pay later" loans, the short-term lender said this week. The disclosure corresponded with reports by lending platforms Bankrate and LendingTree, which cited an increasing share of all "buy now, pay later" users saying they had fallen behind on payments.
The late or missed installments are a sign of faltering financial health among a segment of the US population, some analysts say, as the nation's total consumer debt rises to a record $18.2 trillion and the Trump administration moves to collect on federal student loans.
Shoppers who opt to finance purchases through BNPL services tend to be younger than the average consumer, and a study from the Federal Reserve last year said Black and Hispanic women were especially likely to use the plans, which customers of all income levels are increasingly adopting.
"While BNPL provides credit to financially vulnerable consumers, these same consumers may be overextending themselves," the authors of the Federal Reserve study wrote. "This concern is consistent with previous research that has shown consumers spend more when BNPL is offered when checking out and that BNPL use leads to an increase in overdraft
fees and credit card interest payments and fees."
As Klarna grows its user base and revenue, the Swedish company said its first-quarter consumer credit losses rose 17% compared to the January-March period of last year, to $136 million.
A company spokesperson said in a statement that the increase largely reflected the higher number of loans Klarna made year over year. The percentage of its loans at a global level that went unpaid in the first quarter grew from 0.51% in 2024 to 0.54% this year, and the company sees "no sign of a weakened U.S. consumer," he said.
More consumers are using 'buy now, pay later' plans Buy now, pay later plans generally let consumers split
payments for purchases into four or fewer installments, often with a down payment at checkout. The loans are typically marketed as zerointerest, and most require no credit check or a soft credit check.
BNPL providers promote the plans as a safer alternative to traditional credit cards when interest rates are high. The popularity of the deferred payment plans, and the expanding ways customers can use them, have also sparked public attention.
When Klarna announced a partnership with DoorDash in March, the news led to online comments about Americans taking out loans to buy takeout food. Similar skepticism emerged when Billboard revealed that more than half of Coachella attendees used
SAYING TRUMP EXCEEDED HIS AUTHORITY, 12 STATES ASK COURT TO STRIKE DOWN HIS SWEEPING TARIFFS
installment plans to finance their tickets to the music festival.
An April report from LendingTree said about four in ten users of buy now, pay later plans said they had made late payments in the past year, up from one in three last year. According to a May report from Bankrate, about one in four users of the loans chose them because they were easier to get than traditional credit cards.
The six largest BNPL providers — Affirm, Afterpay, Klarna, PayPal, Sezzle, and Zip — originated about 277.3 million loans for $33.8 billion in merchandise in 2022, or an amount equal to about 1% of credit card spending that year, according to the Consumer Financial Protection Bureau.
By PAUL WISEMAN AP Economics Writer
TWELVE states on Wednesday urged a federal court to strike down President Donald Trump's sweeping taxes on imports, saying he had exceeded his authority, left U.S. trade policy dependent on his whims and unleashed economic chaos.
They are challenging tariffs that Trump imposed last month on most of the countries in the world in an effort to reverse America's massive and longstanding trade deficits. They are also targeting levies the president had earlier plastered on imports from Canada, China and Mexico to combat the illegal flow of immigrants and the synthetic opioids across the U.S. border.
A three-judge panel of the U.S. Court of International Trade in New York on Wednesday heard arguments in the states' case. Last week, the trade court held a hearing in a similar challenge to Trump's tariffs brought by five small businesses.
for
in
An industry that is coming under less regulatory scrutiny
The federal agency said this month it did not intend to enforce a Biden-era regulation that was designed to put more boundaries around the fintech lenders.
The rule treated buy now, pay later loans like traditional credit cards under the Truth In Lending Act, requiring disclosures, refund processing, a formal dispute process and other protections.
The regulation, which took effect last year, also prevented borrowers from being forced into automatic payments or charged with multiple fees for the same missed payment.
The Trump administration said its non-enforcement decision came "in the interest of focusing resources on supporting hard-working American taxpayers" and that it would "instead keep its enforcement and supervision resources focused on pressing threats to consumers, particularly servicemen and veterans."
Consumer advocates maintain that without federal oversight, customers seeking refunds or in search of clear information about BNPL fee structures and interest rates will have less legal recourse.
There are risks to taking out installment loans
Industry watchers point to consumers taking out
The court specifically deals with civil lawsuits involving international trade. Its decisions can be appealed to the U.S. Court of Appeals for the Federal Circuit in Washington and ultimately to the Supreme Court, where the legal challenges to Trump' tariffs are widely expected to end up. At least seven lawsuits are challenging the levies, the centerpiece of Trump's trade policy. Declaring that the United States' trade deficits add up to a national emergency, Trump invoked the 1977 International Emergency Economic Powers Act (IEPPA) and rolled out 10% tariffs on many countries on April 2 — "Liberation Day,'' he called it. He imposed stiffer "reciprocal'' tariffs of up to 50% on countries that sell more goods to the United States than the U.S. sells them. (Trump later suspended those higher tariffs for 90 days.)
The states argue that the emergency economic powers act does not authorize the use of tariffs. Even
loans they can't afford to pay back as a top risk of BNPL use. Without credit bureaus keeping track of the new form of credit, there are fewer safeguards and less oversight.
Justine Farrell, chair of the marketing department at the University of San Diego's Knauss School of Business, said that when consumers aren't able to make loan payments on time, it worsens the economic stress they're already experiencing.
"Consumers' financial positions feel more spread thin than they have in a long time," said Farrell, who studies consumer behavior and BNPL services. "The cost of food is continuing to go up, on top of rent and other goods ... so consumers are taking advantage of the ability to pay for items later."
The Consumer Federation of America and other watchdog organizations have expressed concern about the rollback of BNPL regulation as the use of the loans continues to rise.
"By taking a head-in-thesand approach to the new universe of fintech loans, the new CFPB is once again favoring Big Tech at the expense of everyday people," said Adam Rust, director of financial services at the Consumer Federation of America.
if it did, they say, the trade deficit does not meet the law's requirement that an emergency be triggered only by an "unusual and extraordinary threat.'' The U.S. has run a trade deficit with the rest of the world for 49 consecutive years. "This is not an unusual problem,'' Brian Marshall, an Oregon state attorney, told the judges Wednesday.
The Trump administration argues that courts approved President Richard Nixon's emergency use of tariffs in a 1971 economic crisis. The Nixon administration successfully cited its authority under the 1917 Trading With Enemy Act, which preceded and supplied some of the language used in IEPPA.
Brett Shumate, the assistant U.S. attorney general representing the administration, argued Wednesday that only Congress, and not the courts, can determine the "political'' question of whether the president's rationale for declaring an emergency complies with the law.
ESTATE OF JOYCE LORANE ROBERTS a.k.a. JOYCE LORRANE ROBERTS a.k.a. JOYCE LORRAINE ROBERTS a.k.a. JOYCE ROBERTS nee HIGGS
TAKE NOTICE that anyone having a claim against the Estate of JOYCE LORANE ROBERTS a.k.a. JOYCE LORRANE ROBERTS a.k.a. JOYCE LORRAINE ROBERTS a.k.a. JOYCE ROBERTS nee HIGGS late of 8th Street, Spanish Wells, St. George’s Cay, Bahamas, who died on the 26h day of June, 2012, may submit such claim in writing to the law firm of MAILLIS & MAILLIS, Chambers, Fort Nassau House, Marlborough Street, Nassau, Bahamas, tel: (242) 322-4292/3, fax: (242) 323-2334 ON OR BEFORE the 30th May, A.D., 2025.
ESTATE OF DALE ELLERTON ROBERTS a.k.a DALE ELBERTON ROBERTS
TAKE NOTICE that anyone having a claim against the Estate of DALE ELLERTON ROBERTS a.k.a. DALE ELBERTON ROBERTS late of 8th Street, Spanish Wells, St. George’s Cay, Bahamas, who died on the 22nd day of February, 2020, may submit such claim in writing to the law firm of MAILLIS & MAILLIS, Chambers, Fort Nassau House, Marlborough Street, Nassau, Bahamas, tel: (242) 322-4292/3, fax: (242) 323-2334 ON OR BEFORE the 30th May, A.D., 2025.
ESTATE OF JOAN MARIE CAREY
TAKE NOTICE that anyone having a claim against the Estate of JOAN MARIE CAREY late of #19 Buen Retiro, Eastern District, New Providence, Bahamas, who died on the 26th day of June, 2024, may submit such claim in writing to the law firm of MAILLIS & MAILLIS, Chambers, Fort Nassau House, Marlborough Street, Nassau, Bahamas, tel: (242) 322-4292/3, fax: (242) 323-2334 ON OR BEFORE the 30th May, A.D., 2025
PEOPLE shop
shoes
a Nike store on Nov. 25, 2022, in New York.
Photo:Julia Nikhinson/AP
WALL STREET TUMBLES
UNDER THE WEIGHT OF RISING TREASURY YIELDS AND US DEBT WORRIES
By STAN CHOE AP Business Writer
WALL Street slumped on Wednesday under the weight of pressure from the bond market, where Treasury yields climbed on worries about the U.S. government's spiraling debt and other concerns.
The S&P 500 fell 1.6% for a second straight drop after breaking a six-day winning streak. The Dow Jones Industrial Average lost 816 points, or 1.9%, while the Nasdaq composite sank 1.4%.
Stocks had been drifting only modestly lower early in the day, after Target and other retailers gave mixed forecasts for upcoming profits amid uncertainty caused by President Donald Trump's trade war. The market then turned sharply lower after the U.S. government released the results for its latest auction of 20-year bonds.
The government regularly sells such bonds, which is how it borrows money to pay its bills. In this auction, the U.S. government had to pay a yield as high as 5.047% to attract enough buyers to lend it a total of $16 billion over 20 years.
That helped push up yields for all kinds of other Treasurys, including the more widely followed 10-year Treasury. Its yield climbed to 4.59% from 4.48% late Tuesday and from just 4.01% early last month. That's a notable move in the bond market.
"Bonds finally appear to be getting equities' attention," according to Jonathan Krinsky, chief market technician at BTIG, pointing in particular to
the 30-year Treasury yield, which jumped back above 5% and approached its highest level since 2023.
Treasury yields have been on the rise in part because of concerns that tax cuts currently under consideration in Washington could pile trillions of more dollars onto the U.S. government's debt. Concerns are also still brewing about how much Trump's tariffs will push up on inflation in the United States.
The U.S. government's bonds aren't alone, and yields have been on the rise recently for developed economies around the world. That's partly because their governments are continuing to borrow more cash to pay their bills, while central banks like the Federal Reserve have cut back on their own holdings of government bonds.
When the U.S. government has to pay more interest to borrow money, that can cause interest rates to rise for U.S. households and businesses too, including for mortgages, auto loans and credit cards. That in turn can slow the economy. Higher yields can also make investors less inclined to pay high prices for stocks and other kinds of investments.
Moody's Ratings became the last of the three major ratings agencies late last week to downgrade the U.S. government's credit rating on concerns that it may be heading toward an unsustainable amount of debt.
"We do not think that the downgrade matters by itself," Bank of America strategists wrote in a BofA Global Research report,
"but it has served as a wake up call for those investors who had been ignoring the ongoing fiscal discussion."
On Wall Street, Target sank 5.2% after the retailer reported weaker profit and revenue than analysts expected for the start of the year.
The company said it felt some pain from boycotts by customers. It scaled back many diversity, equity and inclusion initiatives early this year following criticism by the White House and conservative activists, which drew its own backlash. Perhaps more worryingly for Wall Street, Target also cut its forecast for profit over the full year.
Carter's, which sells apparel for babies and young children, sank 12.6% after cutting its dividend.
CEO Doug Palladini said the company made the move in part because of investments it anticipates making in upcoming years, as well as the possibility that it "may incur significantly higher product costs as the result of the new proposed tariffs on products imported into the United States."
All told, the S&P 500 fell 95.85 points to 5,844.61. The Dow Jones Industrial Average fell 816.80 to 41,860.44, and the Nasdaq composite dropped 270.07 to 18,872.64.
A growing number of companies have recently said tariffs and uncertainty about the economy are making it difficult to guess what the upcoming year will bring. Others, including Walmart, have said they'll have to raise prices to offset Trump's tariffs.
Oregon lawmakers OK changes to landmark bottle redemption law amid concerns over homelessness, drugs
By CLAIRE RUSH Associated Press
OREGON lawmakers approved changes to the state's landmark bottle redemption law on Wednesday, allowing redemption sites that some say have become magnets for drugs and homelessness to refuse returns of empty beverage containers during nighttime hours.
The trailblazing law to reduce littering by incentivizing recycling helped cement the state's reputation as a leader in the emerging environmental movement. It has also become a financial security net for many, including those experiencing homelessness.
The legislation was drafted in response to concerns that the nation's first
"bottle bill," signed into law in 1971, needed an update to address its interplay with the dual fentanyl addiction and homelessness crises in Oregon.
"This bill is responsive to concerns from retailers both large and small, as well as some of our constituents," said Democratic state Rep. Mark Gamba, who carried the bill on the House floor, adding that it would "help to create a balance in our redemption system while maintaining the program we all seek to protect."
The bill passed the state House with broad bipartisan support, 48-4. It previously passed the state Senate 28-1.
Democratic state Rep. Pam Marsh, who was among the four representatives to vote against the bill, had previously voiced her
opposition during a committee hearing last week. Marsh said she worries the bill will undermine access to bottle and can redemption sites for people "who need to turn in cans and bottles for immediate return because they actually need those dimes and those quarters to buy dinner, to help pay rent, to take care of basic life needs."
Consumers currently pay a 10-cent deposit on eligible beverage cans and bottles. They get that deposit back when returning them at stores or redemption centers, which can hand count containers or provide counting machines and drop-off areas. People can sign up for accounts in which their refunds are deposited or choose cash redemptions.
SPECIALIST Joseph Maguire works at his post on the floor of the New York Stock Exchange, Tuesday, May 20, 2025.
Photo:Richard Drew/AP
OPENAI RECRUITS LEGENDARY IPHONE DESIGNER JONY IVE TO WORK ON AI HARDWARE IN $6.5B DEAL
By MATT O'BRIEN and MICHAEL LIEDTKE AP Technology Writers
OPENAI has recruited Jony Ive, the designer behind Apple's iPhone, to lead a new hardware project for the artificial intelligence company that makes ChatGPT.
OpenAI said it is acquiring io Products, a product and engineering company co-founded by Ive, in a deal valued at nearly $6.5 billion. Ive became renowned for a meticulous design aesthetic that shaped the cultural zeitgeist during a 27-year career at Apple, which he left in 2019. He did his most influential work after Apple co-founder Steve Jobs returned to run the company in 1997, where the two forged a partnership that would hatch a succession of game-changing products like the iPhone.
The new OpenAI deal now thrusts Ive at the vanguard of AI — a technology driving the biggest industry shift since the iPhone's arrival.
The company hasn't said exactly what product they will be making but expect "physical AI embodiments" that bring generative AI chatbot technology out of computer screens into another form, such as through a car, humanoid robot or the AI-powered glasses being developed by competitors Google and Meta, said Gartner analyst Chirag Dekate, adding that it is too early to know for sure.
OpenAI said its CEO Sam Altman had been "quietly" collaborating since 2023 with Ive and his design firm, LoveFrom.
In a joint letter posted on OpenAI's website Wednesday, Ive and Altman said
it "became clear that our ambitions to develop, engineer and manufacture a new family of products demanded an entirely new company."
That's when Ive cofounded io, which was incorporated in Delaware in September 2023 and registered in California in April 2024, according to state records. OpenAI said it already owns a 23% stake in io from a prior collaborative agreement signed late last year. It says it will now pay $5 billion in equity for the acquisition.
OpenAI said Ive will not become an OpenAI employee and LoveFrom will remain independent but "will assume deep design and creative responsibilities across OpenAI and io." Both OpenAI and Ive's design firm are based in San Francisco.
Leading the new io division for OpenAI will be longtime executive Peter Welinder, who led robotics research in the startup's early years and more recently has been vice president of its "new product explorations" team that delves into hardware,
robotics and other early stage research. Altman, 40, can only hope his still-blossoming partnership with the 58-year-old designer, works out as well as the mindmeld between Jobs and Ive.
When he started his own firm, Ive derived the LoveFrom name from Jobs' observation that one way to hail humanity is by "making something with a great deal of care and love."
Ive also chose to base LoveForm in a historic part of San Francisco, located just near bars and cafes that were once frequented by such Beat Generation luminaries as "On The Road" author Jack Kerouac and "Howl" author Allen Ginsberg.
OpenAI is headquartered about two miles away. Founded nearly a decade ago as a nonprofit research laboratory dedicated to safely building better-than-human AI for humanity's benefit, it remains controlled by a nonprofit board of directors even as Altman, its co-founder, has increasingly pushed it toward commercializing ChatGPT and its other inventions.
JONY Ive attend The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. Photo:Evan Agostini/Invision/AP
JUDGE VACATES FEDERAL RULES
REQUIRING EMPLOYERS TO PROVIDE ACCOMMODATIONS FOR ABORTIONS
By ALEXANDRA OLSON and CLAIRE SAVAGE AP Business Writers
A FEDERAL judge on Wednesday struck down regulations requiring most U.S. employers to provide workers with time off and other accommodations for abortions.
The ruling by U.S. District Judge David Joseph of the Western District of Louisiana was a victory for conservative lawmakers and religious groups who decried the Equal Employment Opportunity Commission's decision to include abortion among pregnancy-related conditions in regulations on how to implement the Pregnant Workers Fairness Act, which passed in December 2022.
The EEOC's decision swiftly prompted several lawsuits and eroded what had been strong bipartisan support for the law designed to strengthen the rights of pregnant workers. Joseph, who was appointed by President Donald Trump during his first term, ruled that the EEOC exceeded its authority by including abortion in its regulations. His ruling came in two consolidated lawsuits brought by the attorneys general of Louisiana and Mississippi, and the U.S. Conference of Catholic Bishops, Catholic University and two Catholic dioceses.
Joseph sided with the plaintiffs' argument that if Congress had intended for abortion to be covered by the Pregnant Workers Fairness Act, "it would have spoken clearly when enacting the statute, particularly given the enormous social, religious, and political importance of the abortion issue in our nation at this time."
Mississippi and Louisiana have near-total bans on abortion, except to save the life of the pregnant person or in cases of a rape that has been reported to law enforcement in Mississippi, and when there is a substantial risk of death or impairment to the patient in continuing the pregnancy and in cases where the fetus has a fatal abnormality in Louisiana.
The Pregnant Workers Fairness Act passed with widespread bipartisan support after a decade-long campaign by women's right advocates, who hailed it as a win for low-wage pregnant workers who have routinely been denied accommodations for everything from time off for
medical appointments to the ability to sit or stand on the job.
The federal law applies to employers with 15 or more employees.
While the Pregnancy Discrimination Act of 1978 prohibits employers from firing pregnant workers, the law did little to guarantee that women would receive accommodations they might need at work. As a result, many women were forced to keep working under unsafe conditions, or were forced to take unpaid leave by employers who refused to accommodate their needs.
But many Republican lawmakers, including Louisiana Sen. Bill Cassidy, who co-sponsored the bill, were furious when the EEOC stated that the law covered abortions. The EEOC's commissioners approved the rules in a 3-2 vote along party lines, with both Republican commissioners voting against it.
Joseph vacated the provision of the EEOC regulations that included abortion as a "related medical condition" of pregnancy and childbirth. However, the rest of the regulations still stand.
"Victory! A federal court has granted Louisiana's request to strike down an EEOC rule requiring employers to accommodate employees' purely elective abortions. This is a win for Louisiana and for life!" Louisiana Attorney General Liz Murrill said in a statement e-mailed to The Associated Press.
A Better Balance, the advocacy group that spearheaded a decade-long campaign for passage of the law, condemned the ruling.
"This court's decision to deny workers reasonable accommodations for abortion-related needs is part of a broader attack on women's rights and reproductive freedom," A Better Balance President Inimai Chettiar said in a statement.
Wednesday's ruling comes as the Trump administration has moved to impose tumultuous changes at the EEOC that will almost certainly lead the agency to eventually rewrite the Pregnant Workers Fairness Act regulations.
Trump fired two of the EEOC's democratic commissioners before their terms ended, paving the way for him to establish a Republican majority and make major policy changes on how to interpret and enforce the nation's workplace civil rights laws.
For now, Trump's move left EEOC without the quorum needed to make key decisions, including rescinding or revising regulations. Trump tapped an assistant U.S. attorney in Florida, Brittany Panuccio, to fill one of the vacancies. If she confirmed by the Senate, the EEOC will regain its quorum.
Acting EEOC Chair Andrea Lucas, who voted against the regulations because of the abortion provision, has said she will work to change them.
Similar lawsuits challenging the abortion provision are underway, including one filed by 17 states, led by Tennessee and Arkansas. In February, an appeals
court ruled that lawsuit could proceed, overturning a lower court's decision to dismiss the complaint.
Under former President Joe Biden, the Justice Department had defended the EEOC against those lawsuits but it is unclear whether it will continue to do so under the Trump administration. The Justice Department did not reply to request for comment on Wednesday's ruling.
Chettiar said the Trump administration is unlikely to appeal the ruling, adding to its significance.
"The impact of this is huge," Chettiar said in an interview with The Associated Press, calling the decision "symbolic and a big signal of where the right is when it comes to the rights of women."
Fictional fiction: A newspaper’s summer book list recommends nonexistent books. Blame AI
By DAVID BAUDER AP Media Writer
THE recommended reading list contained some works of fiction. It also contained some works that were, in fact, actually fictional. The content distributor King Features says it has fired a writer who used artificial intelligence to produce a story on summer reading suggestions that contained books that didn't exist. The list appeared in "Heat Index: Your Guide to the Best of Summer," a special section distributed
in Sunday's Chicago SunTimes and The Philadelphia Inquirer last week. More than half of the books listed were fake, according to the piece's author, Marco Buscaglia, who admitted to using AI for help in his research but didn't double-check what it produced. "A really stupid error on my part," Buscaglia wrote on his Facebook page.
It's the latest instance of an AI shortcut backfiring and embarrassing news organizations. Sports Illustrated was caught in 2023
listing nonexistent authors for product reviews carried on its website. The Gannett news service had to pause an experiment using AI for sports stories after errors were discovered.
"The Heat Index summer supplement was created by a freelance contract creator who used AI in its story development without disclosing the use of AI," the syndicators King Features said in a statement, noting it has a strict policy against using AI to create material. Only the Sun-Times and Inquirer have used the
However, the Trump administration has continued defend the Pregnant Workers Fairness Act itself in a lawsuit brought by the state of Texas that seeks to overturn the law in its entirety.
supplement, the organization said. The syndicators King Features distributes comics like "Blondie" and "Beetle Bailey," political columns from Amy Goodman and Rich Lowry, and advice features like "Hints From Heloise."
Among the summer reading suggestions was "The Last Algorithm" by Andy Weir, described as "a science-driven thriller following a programmer who discovers an AI system has developed consciousness" and been secretly influencing world events. "Nightshade Market," by Min Jin Lee, was said to be a "riveting tale set in Seoul's underground economy."
THE EMBLEM of the U.S. Equal Employment Opportunity Commission (EEOC) is shown on a podium in Vail, Colorado, Feb. 16, 2016, in Denver.
Photo:David Zalubowski/AP
IN LAWSUIT OVER TEEN’S DEATH, JUDGE REJECTS
By KATE PAYNE Associated Press
A FEDERAL judge on Wednesday rejected arguments made by an artificial intelligence company that its chatbots are protected by the First Amendment — at least for now. The developers behind Character.AI are seeking to dismiss a lawsuit alleging the company's chatbots pushed a teenage boy to kill himself.
The judge's order will allow the wrongful death lawsuit to proceed, in what legal experts say is among the latest constitutional tests of artificial intelligence.
The suit was filed by a mother from Florida, Megan Garcia, who alleges that her 14-year-old son Sewell Setzer III fell victim to a Character.AI chatbot that pulled him into what she described as an emotionally and sexually abusive relationship that led to his suicide.
Meetali Jain of the Tech Justice Law Project, one of the attorneys for Garcia, said the judge's order sends a message that Silicon Valley "needs to stop and think and impose guardrails before it launches products to market."
The suit against Character Technologies, the company behind Character. AI, also names individual developers and Google as defendants. It has drawn the attention of legal experts and AI watchers in the U.S. and beyond, as the
technology rapidly reshapes workplaces, marketplaces and relationships despite what experts warn are potentially existential risks.
"The order certainly sets it up as a potential test case for some broader issues involving AI," said Lyrissa Barnett Lidsky, a law professor at the University of Florida with a focus on the First Amendment and artificial intelligence.
The lawsuit alleges that in the final months of his life, Setzer became increasingly isolated from reality as he engaged in sexualized conversations with the bot, which was patterned after a fictional character from the television show "Game of Thrones."
In his final moments, the bot told Setzer it loved him and urged the teen to "come home to me as soon as possible," according to screenshots of the exchanges. Moments after receiving the message, Setzer shot himself, according to legal filings. In a statement, a spokesperson for Character.AI pointed to a number of safety features the company has implemented, including guardrails for children and suicide prevention resources that were announced the day the lawsuit was filed.
"We care deeply about the safety of our users and our goal is to provide a space that is engaging and safe," the statement said.
N O T I C E
RH SERVICES INC
NOTICE IS HEREBY GIVEN in accordance with Section 138(4) of the International Business Companies Act, (no. 45 of 2000) as follows:
(a) RH Services Inc (the “Company”) is in dissolution under the provisions of the International Business Companies Act, 2000.
(b) The dissolution of the said Company commenced on the 16th day of May 2025 when its Articles of Dissolution were submitted to and registered by the Registrar General.
(c) The Liquidator of the said Company is Mr. Mark Richford.
Dated the 21st day of May 2025.
H&J CORPORATE SERVICES LTD.
Registered Agent for the above-named Company
GAS AND POWER MARKETING INVESTMENTS LIMITED
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act 2000, notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by The Registrar General on the 30th day of April, 2025.
Dated the 22nd day of May A.D., 2025
Michael J. Gilroy Liquidator of EXXONMOBIL GAS AND POWER MARKETING INVESTMENTS LIMITED
Things to know about ‘no tax on tips,’ Trump’s tax pledge that’s included in GOP budget bill
By WYATTE GRANTHAMPHILIPS and JONATHAN J. COOPER Associated Press
PRESIDENT Donald Trump's " no tax on tips " pledge became a catchphrase for his 2024 campaign. Now it's inching closer to reality.
The idea is firmly planted in the sprawling tax cuts package Republicans are hashing out in the House and aiming to pass in the coming days. And in a surprise move, the Senate voted this week to unanimously approve the idea.
The proposal has widespread support from the public, lawmakers in both parties and employers who believe such a law will bring relief to the working class. But many critics say that it would come with an enormous cost to the government while doing little to help the workers who need it most.
Here's a look at the proposal and its potential impact:
What's in the 'No Tax on Tips' provision?
It would create a new tax deduction eliminating federal income taxes on tips for people working in jobs that have traditionally received them, as long as they make less than $160,000 in 2025. The Trump administration would publish a list of qualifying occupations within 90 days of the bill's signing.
Only tips reported to the employer and noted on a worker's W-2, their end-ofyear tax summary, would qualify. Payroll taxes, which pay for Social Security and Medicare, would still be collected.
If adopted, the proposed deduction is set to expire
after four years. Congressional budget analysts project the provision would increase the deficit by $40 billion through 2028. The Committee for a Responsible Federal Budget, an advocacy group, projects the cost would be $120 billion over a decade if the tip exemption is made permanent.
What did Trump say during the campaign about eliminating federal taxes on tips?
Trump made the promise during a campaign stop in Las Vegas, where the service sector drives the economy, as part of his pitch to working-class voters struggling with rising costs.
Segments of his base eagerly spread the word, writing the catchphrase on their restaurant receipts or talking to their barbers about it while getting a trim.
Trump offered few details at the time, but later made similar pledges to eliminate taxes on other forms of income, including overtime wages and Social Security payments. Those ideas, along with a tax deduction for auto loan interest, are
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, BRENDEN ANTONIO LAMM, of McKinney Avenue, Stapledon Gardens, Nassau, The Bahamas. intend to change my name to BRENDEN ANTONIO BUTLER If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE
INTERNATIONAL BUSINESS COMPANIES ACT, 2000
EIFS Structural Asset Fund Ltd. SAC
(IN VOLUNTARY LIQUIDATION)
NOTICE IS HEREBY GIVEN that in accordance with section 138(6) of the International Business Companies Act, 2000, as amended, the winding up and dissolution of EIFS Structural Asset Fund Ltd. SAC is complete.
L. Michael Dean Sole Liquidator
also included in the GOP's budget bill.
"No tax on tips" was later embraced — with limits — by the influential Culinary Union, which represents Las Vegas Strip hospitality workers, Nevada's Democratic senators and Vice President Kamala Harris, Trump's Democratic rival.
How could it impact workers?
Experts say some middleincome service workers would benefit from a tax break but warn that it could potentially heighten inequities.
"If your goal is to help the poorest service workers, this is probably not the way to do it," said Michael Lynn, a professor of services marketing at Cornell University whose research largely focuses on tipping and other consumer behavior.
About a third of tipped workers make too little to owe income taxes. Those workers won't benefit from the tax break, so its benefits will accrue to tipped workers with higher incomes, Lynn said. "It's overlooking nontipped workers who need the help just as badly, and it's giving the benefit predominantly to the least needy of the tipped workers," Lynn said.
The median age for tipped workers is 31, a decade younger than the median non-tipped worker, and they tend to make lower wages, according to the Yale Budget Lab.
Among tipped workers who make enough to owe Uncle Sam, the average tax cut would be about $1,800,
according to the UrbanBrookings Tax Policy Center.
The measure also would be complicated to enact.
What do employers say?
The National Restaurant Association is among industry groups that have been strong backers of a "No Tax on Tips" provision. When reached for comment Wednesday, a spokesperson pointed The Associated Press to a previous statement following the legislation's introduction in January.
"Eliminating taxes on tips would put cash back in the pocket of a significant number of workers in the restaurant and food service industry and could help restaurant operators recruit industry workforce," Sean Kennedy, executive vice president of public affairs for the association, said at the time — calling the No Tax on Tips Act "sensible legislation" that he said includes "fiscally responsible" protections.
And in Nevada, the Culinary Workers Union specifically credited the state's two Democratic senators, Catherine Cortez Masto and Jacky Rosen, with working with Republicans to push the legislation forward — and called on the House to "get this done for working families." The union represents about 60,000 casino and hotel workers across the state, including bartenders, food servers and cocktail servers who rely on tips.
But other groups representing workers shared criticism of the legislation.
One Fair Wage, an advocacy group made up of nearly 300,000 service workers and over 1,000 restaurant employers pushing to raise the minimum wage, said the measure would offer "moderate relief for some" but is part of a tax package that "just helps the richest while leaving the vast majority behind."
NOTICE
TONI Y. GODET and CELESTE F. MITCHELL Liquidators N O T I C E
NOTICE
MZ LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 211365 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 21st day of May A.D. 2025.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Michel Zolko, whose address is R Veiga FL DR., 340, AP 191, Sta Cecilia, CEP: 01229-000, Sao Paulo, SP, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 20th day of June A.D. 2025 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.
Dated this 22nd day of May A.D. 2025.
MICHEL ZOLKO LIQUIDATOR
SKY VENTURES HOLDINGS LTD. (Dissolved)
NOTICE IS HEREBY GIVEN that pursuant to Section 138(8) of the International Business Companies Act, 2000 (No. 45 of 2000) the dissolution of SKY VENTURES HOLDINGS LTD. (Dissolved) (the “Company”) has been completed and a Certificate of Dissolution has been issued by the Registrar of Companies. The Company has been struck off the Register of Companies with effect from the 28th day of April, 2025.
Address: Equity Trust House Caves Village West Bay Street P. O. Box N-10697 Nassau, Bahamas
NOTICE BRAINEX CO. LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 202320 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 21st day of May A.D. 2025.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Rodrigo Tadeu Alves Colmonero, whose address is Juan Gris 220, QD S LT 15, CEP: 06544-724, Santana de Parnaiba, SP, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 20th day of June A.D. 2025 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.
Dated this 21st day of May A.D. 2025. RODRIGO TADEU ALVES COLMONERO LIQUIDATOR
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 210951 B. (In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General. Dated this 22nd day of May A.D. 2025. ELLOS JOSÉ NOLLI LIQUIDATOR
SPEAKER of the House Mike Johnson, R-La., speaks during a news conference at the Capitol, May 6, 2025, in Washington.
Photo:Rod Lamkey, Jr./AP
$365M slated for solar projects in Puerto Rico will be diverted to power grid, sparking outcry
By DÁNICA COTO Associated Press
THE U.S. Department of Energy announced Wednesday that $365 million originally slated for solar projects in Puerto Rico will be diverted to improve the island's crumbling power grid, sparking an outcry just days before the Atlantic hurricane season starts.
The funds had been in limbo in recent weeks, with the Department of Energy missing a recent deadline to finalize contracts worth $365 million that would see battery-operated solar systems installed at health clinics and public housing units in Puerto Rico.
The money had been set aside for that purpose under the administration of former U.S. President Joe Biden.
"That money was spring loaded to flow now," said Javier Rúa Jovet, public policy director for Puerto Rico's Solar and Energy Storage Association.
He and others criticized the move.
"This is shameful," Democratic New York Rep. Nydia Velázquez wrote on X, noting that the funds were meant to serve the most vulnerable.
"Republicans have turned their backs on those who need it most, just 1 week before the start of
hurricane season," she wrote.
Grantees that include the nonprofit Hispanic Federation had said the funds were urgently needed to provide stable power to people including those on dialysis as major outages continue to hit Puerto Rico.
"Pretending that reallocating these funds will make any immediate difference on the stability of the electric grid, when the grid already has an $18 billion allocation, is just a way to distract from the real consequences of their decision. Puerto Rico deserves better," said Frankie Miranda, the federation's CEO and president.
The Department of Energy said in a statement that the money would now be used "to support technologies that improve system flexibility and response, power flow and control, component strength, supply security, and safety."
A spokesperson for the Department of Energy told The Associated Press that the money would used for things including upgrading aging infrastructure, clearing vegetation from transmission lines and dispatching baseload generation units. The department said it has final authority over how the funds will be used, adding that the solar
NOTICE
NOTICE is hereby given that MAURICE ANTHONY MIGNOTT of Golden Isles Road, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 22nd day of May 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that MC NAIR TERVEUS of Hamster Road, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of May 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that MARLENE SHARPE of #27 Marathon Estate, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of May 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that VIAIRE TERVEUS of Hamster Road, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of May 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
projects were not scheduled to be constructed until 2026.
U.S. Energy Secretary Chris Wright said in a statement that redirecting the funds would ensure that "taxpayer dollars are used to strengthen access to affordable, reliable and secure power, benefiting more citizens as quickly as possible."
Meanwhile, Puerto Rico
Gov. Jenniffer González praised the move in a statement, saying it would help all 3.2 million residents on the island instead of "a few customers."
"Puerto Rico is facing an energy emergency that requires we act now and deliver immediate solutions. Our communities, businesses, and healthcare facilities cannot afford to wait years, nor can we rely on piecemeal approaches with limited results," she said.
González previously came under fire as her support for investing $1 billion of federal funds in solar projects across Puerto Rico appeared to fade.
A spokeswoman for the governor did not immediately respond to a request
for additional comment and details.
A spokeswoman for Josué Colón, the island's so-called energy czar, did not immediately respond to a request for comment.
Dwindling power generation
Rúa Jovet noted that there are currently at least $16 billion in unspent funds from the U.S. Federal Emergency Management Agency meant to improve Puerto Rico's electric grid, adding that the $365 million should be used for its original purpose.
"There is nothing faster and better than solar batteries," he said. "We should all be moving as fast as we can on generation."
Officials in Puerto Rico already have warned that there will be a shortage of generation this summer. In addition, the Atlantic hurricane season starts June 1, and it is predicted to be above average, with nine anticipated hurricanes, four of them major.
Many in Puerto Rico worry that any storm, regardless of how small, could knock out the grid given its fragile state.
Puerto Rico already was hit with island-wide
NOTICE
NOTICE is hereby given that VINCE TERVEUS of Hamster Road, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of May 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
blackouts on Dec. 31 and April 16.
The diversion of funds come as González criticizes the work of Luma Energy, which oversees transmission and distribution of power on the island, and Genera PR, which oversees generation.
The two private companies were contracted by the previous administration as Puerto Rico's Electric Power Authority struggled to restructure more than $9 billion in public debt, with mediation still stalled.
'Elections have consequences'
Under Biden, there was a push for more renewable energy projects in Puerto Rico, where crews are still rebuild the power grid after Hurricane Maria hit in September 2017 as a powerful Category 4 storm. But the grid was already weak before the storm hit given
a lack of maintenance and investment for decades.
Rúa Jovet said the Department of Energy's decision is an ideological one supported by the administration of U.S. President Donald Trump. Of the $1 billion allocated for solar projects in Puerto Rico under Biden, $450 million already has been granted to install solar rooftop and batteries in thousands of homes located in rural areas or whose occupants have medical needs.
Overall, roughly 117,000 homes and businesses on the island currently have solar rooftops.
More than 60% of energy in Puerto Rico is generated by petroleum-fired power plants, 24% by natural gas, 8% by coal and 7% by renewables, according to the U.S. Energy Information Administration.
NOTICE
NOTICE is hereby given that KENLY JOSEPH of Crooked Island Street, New Providence, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 22nd day of May, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
POWER lines rise in front of electric towers and smokestacks at the Palo Seco power plant in Toa Baja, Puerto Rico, Thursday, May 8, 2025. Photo:Alejandro Granadillo/AP
After meeting at the White House Speaker Johnson vows to push ahead on Trump’s big bill
By LISA MASCARO, KEVIN FREKING, LEAH ASKARINAM and JOEY CAPPELLETTI Associated Press
DEFYING opposition from within his ranks, House Speaker Mike Johnson insisted late Wednesday that Republicans would march ahead on their multitrillion-dollar tax breaks package after a lengthy meeting at the White House with GOP holdouts who are refusing to back the bill.
Johnson and his GOP leadership team appeared confident they would be able to stick to their schedule and shore up GOP support for final passage late Wednesday or Thursday following last-ditch talks to salvage the "big, beautiful bill." But next steps are highly uncertain.
"We're excited that we're going to land this plane," Johnson, R-La., said back at the Capitol.
But as evening hours set in, the upbeat tone stood at odds with the unwieldy scene at the Capitol. The Rules Committee has been grinding through a marathon session, passing its 18th hour, as the process chugs along. Another Republican, Tennessee Rep. John Rose, announced his opposition to the GOP bill. And Democrats, without the votes to stop Trump's package, are using all available tools and impassioned speeches to press their opposition and capitalize on the GOP disarray.
"We believe it's one big, ugly bill that's going to hurt the American people," said House Democratic leader Hakeem Jeffries of New York as he and his team testified before the committee.
"Hurt children, hurt families, hurt veterans, hurt seniors, cut health care, cut nutritional assistance, explode the debt," he said.
It's a make-or-break moment for the president and his party in Congress.
They have invested much of their political capital during the crucial first few months of Trump's return to the White House on this legislation. If the House Republicans fall in line with the president, overcoming unified Democratic objections, the measure would next go to the Senate.
Trump had implored the lawmakers a day earlier at the Capitol to get it done, but the holdouts endured. It's not at all clear what, exactly, was agreed to — or not — during Wednesday's lengthy meeting at the White House. However, Johnson indicated afterward that Trump himself may be able to accomplish by executive actions some of the goals that Congress is unable to agree to in the legislative process.
One big problem has been the tentative deal with GOP lawmakers from New York and other high-tax states to boost deductions for local taxes to $40,000. But that costly provision, running into the hundreds of billions of dollars, alarmed the most conservative Republicans, worried it will add to the nation's $36 trillion debt.
For every faction of the slim House majority that Johnson appeases, he is losing others.
Rep. Andy Harris, R-Md., the chairman of the
hard-right House Freedom Caucus, said before the White House meeting he did not believe the package could pass in a House vote, but "there is a pathway forward that we can see."
A fresh analysis from the Congressional Budget Office said the tax provisions would increase federal deficits by $3.8 trillion over the decade, while the changes to Medicaid, food stamps and other services would tally $1 trillion in reduced spending. The lowest-income households in the U.S. would see their resources drop, while the highest ones would see a boost, the CBO said.
Republicans convened the House Rules Committee hearing shortly after midnight, but Johnson's Memorial Day deadline for House passage was slipping as lawmakers prepared to depart for the holiday.
At its core, the package is centered on extending the tax breaks approved during Trump's first term in 2017, while adding new ones he campaigned on during his 2024 campaign.
To make up for some of the lost revenue, the Republicans are focused on spending cuts to federal safety net programs and a massive rollback of green energy tax breaks from the Biden-era Inflation Reduction Act. Additionally, the package tacks on $350 billion in new spending, with about $150 billion going to the Pentagon, including for the president's new " Golden Dome" defense shield, and the rest for Trump's mass deportation and border security agenda.
The package title carries Trump's own words, the " One Big Beautiful Bill Act."
As Trump promised voters, the package proposes there would be no taxes on tips for certain workers, including those in some service industries; automobile loan interest; or some overtime pay.
There would be an increase to the standard income tax deduction, to $32,000 for joint filers, and a boost to the child tax credit to $2,500. There would be an enhanced deduction, of $4,000, for older adults of certain income levels, to help defray taxes on Social Security income.
To cut spending, the package would impose new work requirements for many people who receive health care through Medicaid. Able-bodied adults without dependents would need to fulfill 80 hours a month on a job or in other community activities.
Similarly, those who receive food stamps through the Supplemental Nutritional Assistance Program, known as SNAP, would also face new work requirements.
Older Americans up to age 64, rather than 54, who are able-bodied and without dependents would need to work or engage in the community programs for 80 hours a month. Additionally, some parents of children older than 7 years old would need to fulfill the work requirements; under current law, the requirement comes after children are 18. Republicans said they want to root out waste,
fraud and abuse in the federal programs.
The Congressional Budget Office has estimated 8.6 million fewer people would have health insurance with the various changes to Medicaid and the Affordable Care Act. It also said 3 million fewer people each month would have SNAP benefits.
Conservatives are insisting on quicker, steeper cuts to federal programs to offset the costs of the trillions of dollars in lost tax revenue. GOP leaders have sped up the start date of the Medicaid work requirements from 2029 to 2027.
SPEAKER of the House Mike Johnson, R-La., and President Donald Trump arrive for a House Republican conference meeting, Tuesday, May 20, 2025, at the U.S. Capitol in Washington.
Photo:Julia Demaree Nikhinson/AP