‘Hellishly expensive’: Developer aiming within 5-10% of budget
By NEIL HARTNELL Tribune Business Editor
A BAHAMIAN devel-
oper yesterday said he expects to be within 5-10 percentofbudgeton“hellishly expensive” project costs while asserting this nation “needs to do a bit of thinking” on the Trump tarifffall-out.
Robert Myers, who is spearheading the Windsor Lakes development in south-western New Providence, told Tribune Business that The Bahamas’ import-based, consumption dependent tax system has already worsened the inflationary impact from the US president’s volatile trade polices.
Disclosingthatconstruction material imports from the US have increased in price by 5-10 percent, he argued that the impositionofCustomsdutiesand
• Bahamas must ‘do bit of thinking’ on Trump tariffs • Windsor Lakes eyes ‘big fall push’ on sales, works • Commercial centre ‘may be three-four years away’
VATattheborderonthese samegoodsleviesafurther percentage increase in theircost.
While this increases the Government’s tax revenues and income, as the percentage-based border tariffs and VAT are being levied on higher-priced goods, Mr Myers said the effectistofurtherraisethe already-high cost of goods forBahamianconsumers.
And,notingtheGovernment’s bid to diversify The Bahamas’ supply chains and source goods from
THE Bahamas Telecommunications Company’s (BTC) chief executive says it has made “astounding” progress in addressing customer complaints with around 80 percent resolved bythefirstcall.
Sameer Bhatti, responding to Tribune Business questions over frequent complaints about the quality and reliability of communications services in The Bahamas, conceded that the carrier is “not perfect” but argued that it is “on a journey” and there have been significant improvementsoverthepast 14months.
“I would say that there are a handful of metrics we track pretty well,” he
explained. “What I’ve seen from the team - in a very short period of time, 14 months - is astounding. We’renotallthewaythere, but one of the metrics we have is first call resolution, and we’re in the high 70, low 80 percentages. That’s phenomenal.
“We’ve aligned people, training and resources around it. To answer your question, without customers having to call back again, we’re in the high 70, low 80 percentages on first call resolution.” Mr Bhatti said BTC is now exploring, and looking to integrate, artificial intelligence (AI) into its call centre process asthetraditionalmodelhas changed significantly from the all-human processes usedtwodecadesago.
outside the US, he warned that achieving this objective is “not simple and, in many cases, not possible”.
Describing the US as the Bahamian private sector’s “warehouse”, he added that long-established trade relations and proximity mean it is still the best option for “on-time delivery, warranties and guarantees.
“So far we’re pretty much on budget and on time; pretty close,” Mr Myers told this newspaper of the 173-lot Windsor
Lakes project. “We have normal overruns, but it’s all within reason and we’ve got to keep controlling those costs because, as you know, it’s hellishly expensive to do these developmentsnow.
“I think we’re going to be plus or minus 5-10 percent [of budget], especially with all the supply and tariff issues. That’s also been very challenging for us to navigate; supply issues in terms of tariffs and the cost of materials.”
MrMyerssaidMrTrump’s imposition of tariffs on
Hotel union chief hails $475m for Atlantis upgrade
• ‘Hundreds of construction jobs’ over five years
• Brookfield completes resort’s $1.93bn refinance
• Eyeing plans for Beach Towers and 46 acres
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A $475m upgrade for Atlantis, promising “hundreds of construction jobs” and “new long-term opportunities for Bahamians”, was yesterday hailed as “a positive step in the right direction”.
Darrin Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU)president,told Tribune Business that the planned capital improvements - unveiled alongside the mega resort’s $1.93bn refinancing by its owner, Brookfield Corporation - “could spell” new possibilities for existing staff,
Tourism to tackle Junkanoo Beach vendors’ grievances
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
especially at the still-shuttered Beach Towers which have been closed since 2021.
Brookfield, in a statement, said the $475m upgrades will be spread overafive-yearperiod.The only project identified, as revealed by Tribune Business late last month, is a “full renovation” of the Cove property that is set to begin in 2026. No other specifics were provided, althoughtheAtlantisowner said the funds - equivalent to a $95m annual average outlay-willalsogoonother “highimpactprojects”.
Thestatementaddedthat Brookfield is also eyeing “strategic development
added that the TDC, which is spearheading the Downtown Nassau revitalisation project, will consult stakeholders before work begins atJunkanooBeach.
Anthony Bostwick, the Tourism Development Corporation’s deputy chairman, said the meeting will discuss the Davis administration’s plans to revive and transform the destinationlocatedjusttothewest of The Pointe project. He
TOURISM officials yesterday said they will meet Junkanoo Beach vendors today to address grievances over alleged heavy-handed demands to “dismantle” their businesses and structures.
“We are going to have a meeting tomorrow, and it will be a comprehensive meeting with all stakeholders, and we’ll start our collaboration.Ithinkoneof the things that we need to actually sit down and have a proper consultation on is whattheplansare,whatthe
SAMEER BHATTI
ROBERT MYERS
THE BENEFITS THAT OLDER STAFF GIVE TO EMPLOYERS
Due to fast-paced medical advances, life expectancy is changing rapidly. People are living longer, and older persons are healthier and more vibrant than they haveeverbeen.
This week’s column focuses attention on a position that many companies have adopted - to hire or re-engage older employees beyond the mandatory retirement age. Today, we explore the benefits of doing this in an economy where the talent pool is small, and unemployment levels for youth just entering entering the workforce isrelativelyhigh.
1. Experience and Knowledge
BTC rewards its best performers
THE Bahamas Telecommunications Company (BTC) has recognised 39 employees from both New Providence and the Family Islands for their performance during the 2025 secondquarter.
Their recognition came as BTC introduced its Air Networkandfullyupgraded retail store on Bimini, and announced that all Grand Bahama customers have been transitioned to its fibre network. The recognition ceremony took place on August 13 at BTC’s Perpall Tract headquarters, where the chosen employeesreceivedcertificatesand had their achievements formallyacknowledged.
Chosen by managers for consistently surpassing expectations and dedicationtotheirroles,BTCsaid the 39 represent the very best of its talent. This event is part of BTC’s ongoing quarterly recognition programme, which aims to cultivate a workplace culture that values and rewards high performance. The initiative also leads up to BTC’s annual Employee
of the Year announcement attheendof2025.
“We believe in celebrating those who make a difference,” said BTC’s people director, Patrice Thompson. “These are the individuals who push boundaries and lead by example. This second quarter group represents some of the very best of who we areasacompany.
“Their dedication fuels our progress and strengthens the trust our customers place in us every day. By highlighting these remarkable contributions, we hope to inspire a ripple effect of excellence throughout our entireorganisation.”
BTC’s second quarter recognition followed its first quarter celebration, where 47 staff were similarly honoured for their achievements. Additional recognition events are expected to take place at the close of the third quarterandthefourthquarter.
“We know that engaged and appreciated employees deliver their best work. Theserecognitionmoments not only celebrate success but help build a stronger,
Older employees possess a wealth of experience and knowledge gained over years of working in their field.Thiscanbeinvaluable for problem-solving, decision-making and mentoring youngeremployees.
2.Reducedtrainingcosts
Having experienced employees already familiar with company procedures andculturecansignificantly reduce the need for extensivetrainingfornewhires.
3. Stability and mentorship
Older employees can provide a sense of stability and continuity within a team,actingasmentorsand role models for younger workers.
4.Strongworkethic
Many older employees have a strong sense of commitment and dedication to their work, often exhibiting a strong work ethic and a desiretocontribute.
5.Reducedturnover
Older workers are less likely to job hop compared to younger employees, which can lead to greater team cohesion and reduced recruitmentcosts.
6.Criticalthinkingskills
Yearsofexperienceoften translate into well-developed critical thinking skills, allowing older employees to analyse situations and makeinformeddecisions.
7. Maintaining company culture
Older employees who have been with the company for a long time play a vital role in preserving and transmitting its unique cultureandvalues.
8.Costeffectiveness
While older employees may have higher salaries, their experience and productivity can often offset the cost, especially when considering the costs associated with training and turnover.
9. Flexibility and adaptability
Many older employees are willing to adapt to flexible work arrangements, such as part-time work or adjusted schedules, making them a valuable
imports entering the US from multiple countries had increased construction material prices by between 5-10percent.
However, he added that the impact and actual cost is“multiplied”bytheBahamian tax structure. “The Bahamas has got to realise thattheimpactismultiplied because we have our own import duties and VAT,”
Mr Myers told Tribune Business. “We’re adding, in total, 35 percent, 45 percent, 50 percent on top of the10percent. “This is where The Bahamas needs to do a bit of thinking. It’s good for
the Government, because it’s increased revenue on extraneous costs, but it’s also driving up the cost of goods to the consumer in The Bahamas, which were already high. The Government has to think about these implications, and the private sector in terms of where it gets its materials from.”
The Davis administration, keenly aware of the toll taken by the postCOVID cost of living crisis onhard-pressedlowincome and middle class Bahamian families, has moved to reduce import tariffs on a variety of construction materials in successive annual Budgets. And it has also sought to develop new supply chains and product markets in Africa, central andsouthAmerica.
However, Mr Myers cautioned that The Bahamas’ geographic location likely means that the US will always remain its major trading and economic partner. The former Bahamas ChamberofCommerceand Employers Confederation (BCCEC) chairman added: “Changing supply routes is notaneasything.
“The US is our warehouse for supplies, on-time delivery.It’sverydifficultto order from Central America, South America, Asia and Europe. It’s primarily the cost, the warranties, the guarantees and also minimum orders. If ordering from Europe, Asia and SouthAmerica,youhaveto orderfullcontainerloads.
“That also creates additional cash flow burden and cost considerations. It’s not simple. Changing supply chains is not simple and, in many cases, not possible.”
Still, Mr Myers signalled that Windsor Lakes’ development is proceeding despite the Trump tariff, cost and supply chain challenges, with a September 2025 finish being targeted forcompletionofthedevelopment’s“civilworks”.
asset in a changing work environment.
10.Bridgingtheskillsgap
Older employees can help bridge the skills gap by sharing their knowledge and expertise with younger generations, ensuring a smooth transition of skills and knowledge within the company.
• NB: Ian R Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organisations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@ coralwave.com.
more connected team,” Ms Thompsonadded.
“With every spotlight and celebration, BTC reaffirms its dedication to building a culture where employees are recognised, empowered and celebrated — not just forwhattheydo,butforthe passion and purpose with whichtheydoit.”
Angel Adderley, a BTC business-to-business (B2B) government sales account manager, and a top performer honoree, said: “This award is not just a personal achievement;it’sareflection of the incredible support andcollaborationwithinmy team.
“I’m proud to contribute to a company that values innovation, integrity and excellence, and I’m even prouder to be part of a team that consistently delivers on those values. Recognition like this motivates me to continue pushing boundaries and delivering outstanding service to our clients across TheBahamas.”
In addition to the quarterly recognition ceremonies, BTC will host a long service awards ceremony at Government House next month, where employees who have dedicated 30 years or more to thecarrierwillbehonoured.
He explained that the developmentisawaitingthe arrival of its final electricity transformers, with one shipment due this month and another in September. Once these are received, and installed, it will then “be up to Bahamas Power & Light” to connect the development to New Providence’selectricitygrid.
Describing this as “a big step”, Mr Myers said connection to BPL’s grid will enable Windsor Lakes to commissionitsalready-constructedsewerageplantand sewer system. With this, and all utilities and roads completed, the developer saidworkonamenitiessuch as the clubhouse, tennis courts and pool will begin in the 2025 fourth quarter in a bid to have construction “wrapped up” by the 2026firstquarter’sclose.
And, confirming that vertical construction has startedonthefirstfourresidential homes at Windsor Lakes, Mr Myers said sales of its total 173 lots have been proceeding “better than expected” with “just over 50 percent” purchased to-date. “Sales have been coming in in dribs and drabsoverthesummer,and we’ll have a big push again in the fall,” he told Tribune Business
The Windsor Lakes chief added that, with the project’s first commercial storage unit already “completely sold and leased out”,theorderforasecond unit has already been placed and the steel building should be erected by March 2026. However, the planned commercial centre may not be developed until 2028-2029.
“We probably won’t look at the commercial centre until we get 60-65 percent built-out,” Mr Myers explained. “Putting businesses there now, or buildingstherenow,doesn’t make sense. We have got to have the foot traffic. We have to create the foot traffic,andthat’sgoingtocome
from the residential side of things. We might be three tofouryearsawayfromthe commercialcentre.” MrMyersagainurgedthe Government to “simplify the process” for developers in obtaining the necessary permits and approvals for major projects. “Is it difficult? Yes, very,” he told Tribune Business. “Is it doable? With a massive degree of effort, yes. Are there ways the Government could simplify things? Absolutely.
“Whether you are in The Bahamas, the US or Europe, every developer goes through these degrees of aggravation and difficulty. I just think The Bahamas, because it depends on development and tourism so deeply, the Government should look at waystoimprovetheeaseof doingbusiness.
“The biggest thing, if I was to summarise it, is just in codifying what needs to be done, by whom and when,” Mr Myers added. “Simplifying the process, whether it’s building permits or approvals from the Department of Physical Planning, the Department of Environmental Planning and Protection, it’s a very complicated and arduous process.
“A lot of it is policy, and a lot of that policy is not clearly defined. You get it in bits. Somebody tells you that you have to do this, and someone else comes along and says you have to do that. It’s ‘Oh my God’. I built contingencies into the budget to deal with that, butit’sveryhitandmiss.
“Every day is another thing, whether it’s taxes, property taxes, whether it’s permits and approvals. It’s an arduous task. It’s one where I’ve definitely been taught a few lessons. Until youdoit,youneverknow.”
BTC’s second quarter top performers, and members of the company’s senior executive team, pose with their certificates following a recognition ceremony at the carrier’s Perpall Tract headquarters on August 13.
VENDORS BACK ORIGINAL PATTIES DESPITE IMMINENT PRICE RISES
By ANNELIA NIXON
GAS Stations and convenience stores said they will continue to support Original Patties by selling their products despite a price increase set to take effectonAugust25.
Original Patties, which supplies the public and many gas stations, convenience stores, school lunch vendors and other entities with hot patties and other baked goods, posted a noticeinformingitscustomers that it will increase its prices across the board due to “the global increases in thecostofrawmaterials”.
While Tribune Business was unable to reach management at Original Patties to confirm what new prices Bahamians can expect, the notice advised that the changes will begin on August25.
Taking into consideration that students are among many of his customers that purchase patties, Garfield Johnson, owner
of Amanda’s Convenience Store, said he is unsure how the price increase will impactsalesonceschoolreopens. However, he noted that patties are a cheaper alternative to other meals and they normally sell quickly.
“Well, I have no idea how it will affect me until I start selling it at the higher price,” Mr Johnson said. “But I can say this part. I think the economy is not as strong as the Government says it is, and most people are just having to settle to buy a hot dog sandwich or a patty. So sales on those things have really gone through the roof. A small store like me, I could go through 36 patties per day sometimes.
“I purchase about 36 [a day] especially when school is open, because you have the school kids and it’s more affordable as a meal. I’ve been told by some customers, they take it home andthentheyaddstufftoit totrytomakeitafullmeal. That’s where we’re at now intheintheeconomy.
“Original Patties hasn’t said how much they’re
going up by as yet. So I have no idea what the increaseisgoingtobe,butI know they have been trying tokeeptheircostsdownfor many years, not moving the price up. But I’m thinking, withwhat’sgoingonaround the world, they more than likelyhadnochoice.”
Mr Johnson said 36 patties from Original Patties costs him around $43.96, adding “that’s $1.11 per patty”. He added: “Well, I sell it for $2.25, because the warmer, the electricity with the microwave, a piece of hand towel, all of that causes the $1.11 to look a littledifferent,”hesaid.
“I got to pay the electricity bill and then I have to purchase a warmer which runsabout$1,300atNassau Restaurant Supply. The investment is $1,300 for the warmer, then $200 for the microwave, then you have to buy the little patty bags and hand towels. So it is more than $1.11, but $1.11 isagoodprice.”
Fuel retailer, Peter Roker, noted that with rising costs worldwide, “the Bahamian public has to come to grips with either
TUC affiliates summoned on taxi driver 'oppression'
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Trades Union Congress (TUC) president has summoned all its affiliates to a Monday, August 18 meeting to discuss possible industrial action to support"oppressedanddisrespected"taxidrivers.
Obie Ferguson, in an August 13, 2025, letter to all TUC member unions, urged that no less than ten persons from each affiliate attend as he unveiled his "you for me, I for you" rallying cry calling on them to back "our bothers and sisters of the Taxi Cab Union".
Noting that the Taxi Cab Union has just become a TUC member, he added: "This is extremely significant because the Taxi Cab Union has been in the forefront of the struggle for Bahamian workers for over over six decades. It was the TaxiCabUnionthatledthe GeneralStrikein1958.
"As a result of the said strike, the workers in The Bahamas took their rightful place around the national tableandhelpedtousherin MajorityRulein1967."
However, Mr Ferguson then wrote: Once again, themembersofthishistoric union are being oppressed and disrespected by some ofthosewhohavebenefited from their struggles more than 60 years ago. They are fighting for the same benefits and equal rights that they fought for decades ago.Enoughisenough."
The TUC chief did not explain who was responsible for taxi drivers being "oppressed and disrespected", and he did not respond to calls or messages before press time last night. However, the meetingandcall-outarelikelyto have been sparked by taxi drivers' long-running grievances with livery drivers, government agencies and officials, and private sector operators such as the hotel industry.
The Taxi Cab Union has long accused officials of allowing livery drivers to compete for business by soliciting customers in areas purportedly reserved for taxi drivers. Complaints have been made about this practice occurring at the Lynden Pindling International Airport (LPIA), the Nassau Cruise Port and resort properties such as Atlantis.
Other concerns relate to the presence of illegal operators, known as "hackers", and the Government's failure to crack down on them, plus an over-saturation of the transportation market - with too many drivers chasing too little businessdue to the issuance of more than 800 new taxi plates and300–400liveryplates.
Tyrone Butler, the Taxi Cab Union's president, in a late July 2005
having it a higher price or nothavingitatall”.Hesaid he will continue to support Original Patties by selling their product in his gas station because “they’re a very industrious Bahamian company, and they have no controloverthepricing”.
“First of all, Original Patties have been around for a very, very, very long time, and if I’m wrong, it was really spearheaded by a lady that I think the original place was on Baillou Hill Road,” Mr Roker said. “So it’s like a business landmark.
“They’ve been, in other words, extremely innovative as a manufacturing food producer. So we have a lot of respect for them. And when I had my plaza on Carmichael Road, we bought from them extensively. Now, since having a new location, we’re also buyingfromthem.
“I can say that with the high cost of electricity... now keep in mind, a patty has to be kept warm. You cannot sell a patty cold. So it has to be sold warm. And so the vendor, which isourselvesandmanyother
interview with Tribune Business, noted the longstanding issues taxi drivers have faced regarding livery drivers allegedly “operating illegally”.Healsocalledout hotel properties for allowing livery drivers to “steal” jobs from taxi drivers. Mr Butlersaidheandhismembers’ patience has grown thin, and they are working with Mr Ferguson to “see some movement on those issues”.
“We’re not going to sit around and wait for the minister or any other agencies to string us along with promises. We’ve been given a lot of empty promises up to this point, and we’ve seen the results. Our patience basically run out with this government and its response to a lot of the things that we’ve been asking them to address. And so we’re at that point now where we expect to turn up the heat in short order,”MrButlerasserted.
“It’s not just the Government that we have issues with. We have issues with singular properties, hotel
properties also, and the airport, and so all of these areasthatarechallengingto uswe’regoingtoseektodo what we need to do to have them addressed one way or the other. I mean, we’re not going to sit around and allow persons to just want to have meeting and talk andtalkandnoresults.”
Mr Butler reiterated that livery drivers operating in a space reserved for taxi drivers is against the law.
“OneofthethingstheGovernment and all of these property operators have to understand is taxi drivers are part of the landscape of the visitor vacation experience,”hesaid.
“Transportation to and from certain destinations that is designated for taxis should be done by taxis, not by unscrupulous drivers who were given permission by authorities to operate contrary to what the law says. And so that’s the biggestproblem.”
vendors, they are not only faced with the cost of the patty,butthey’refacedwith the cost of keeping it warm for the public,” Mr Roker added.
“The other thing you have to consider is the margin on selling parties is not a big one. It’s a very competitive market, and therefore I can say pretty much firmly, that I don’t think there’s any room for any reduction. In other words, if a price increase comes on board, I don’t think the vendor has any option but pass it on to the public.
“One factor is the margin on patties is very small and then, of course, you have thewarmingfactor,whichis exorbitant. I can’t say exorbitant, I don’t know, but maybe it’s the cost of what is causing them to produce electricity.
“ButIcanassureyouone thing. The cost of electricity is no joke. So, therefore, you’re talking about warming these patties up, or keeping them warm and there’s a cost attached to that. There’s nothing you can do about that. So in
my opinion there’ll be no option but to put a price increase.”
Both Mr Johnson and Bernard ‘Porky’ Dorsett, operator of Porky’s Rubis Service Station, said they would continue selling at original prices. Mr Dorsett addedthatwhenitcomesto price, “you got to just pass iton”.
“I’ve been selling [Original Patties] from Ms Moseley was in Chippingham by the little gas station there,” Mr Dorsett said. “I had the gas station on Madeira Street back in 1968. So I was buying hot patties from then... I went in Thompson Trading yesterday, and I bought a Munch bar, a peanut bar, for$2.30.That’swhatitcost me.Thecost,yougottojust passiton.Ifyouwanttoeat it,you’lleatit.That’sall.” Mr Johnson said he would sell strictly Original Patties due to the brand’s reputation, adding: “From I’vebeensellingthepatties, most customers have asked me if it’s Original Patty. They’veneveraskedmefor anotherbrand.”
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
A CABINET minister yesterday asserted that the current condition of Bahamian public healthcare is “economically unstainable”.
Michael Halkitis, minister of economic affairs, speaking in the Senate on the National Health Insurance (NHI) Bill, said improving healthcare will helptoattractmoreforeign direct investment (FDI) and ensure productivity andlong-termgrowthisnot negatively impacted due to asicklabourpool.
Highlighting that healthcare costs consume a large percentage of many household incomes, and many choose to delay treatment due to the financial strain it will cause, Mr Halkitis said the present state of healthcare in The Bahamas is not sustainable and the proposed reforms will benefit Bahamians.
“A healthy country is more secure and stable, as well as more prosperous. Forexample,whenwehave well-equipped clinics and ambulances in our Family Islands, more people feel confidentaboutdecisionsto move to our Family Islands as new investments spring up, Bahamians and visitors. Investors feel more comfortable investing in islands where health care is established,”saidMrHalkitis.
“Beyond just the direct health benefits, healthcare
spending consumes significant portions of family budgets. There are people rightnowchoosingbetween medication and meals. Others delay critical treatment through the costs test, for example, imaging and scans,becauseofthecost.
“This creates not only healthcare issues, but also economic inefficiencies, as illnesses and poor health reduce workforce productivity and ultimately dampens the growth. The status quo as it currently exists is just not sustainable for the health and well-being of Bahamians, and it is also economically unsustainable.”
Mr Halkitis maintained that The Bahamas can afford to expand NHI, and the Davis administration will sustain “financial accountability and discipline” throughout itsimplementation.
“These five Bills represent sound healthcare policy. They demonstrate our ability to innovate in pursuit of our goals to expand quality healthcare for all Bahamians, while maintaining financial accountability and discipline. We must spend our resources wisely,” said Mr Halkitis.
“Contrary to the opinions of those who differ with the pursuit of universal healthcare coverage on the basis of cost. Some people say this costs too much;wecanaffordit.This administration is seeking to demonstrate that the Government and the nation can
afford a significant expansion and improvement of healthcare.
“In fact, this is nonnegotiable. A 21st century Bahamas with ambitions of rising in the ranks of the world’s developed nations, must take care of all its citizens.” Mr Halkitis said the Government spends “hundreds of millions” on healthcare annually, and personal finances should not determine whether an individual should access qualityhealthcare.
“We spend billions of dollars every year on healthcare with less than stellaroutcomes.Itisunfortunate when you consider thedegreetowhichlifestyle choices, as well as personal finances, play a part. Government spends hundreds of millions of dollars, and through people losing their personal finances and insurances, healthcare is a multi-billion dollar industry,”saidMrHalkitis.
“It is well known that our country citizens have high rates of... high blood pressure, diabetes, high cholesterol, cardiovascular diseases and even certain cancers, and many of these higher rates are brought on due to unhealthy diets, sedentary lifestyles, stress unhealthy diets, including alcohol,smoking,etc.
“So personal choice is a significant contributing factor, but so is access, or the lack thereof, to quality healthcare, including primarydiagnosticcare.”
OBIE FERGUSON
Brookfield: Refinance to let us create further jobs
opportunities” for the 46 acres of Paradise Island land that it holds next to Atlantis, as well as plans to “redevelop” the Beach Towers property. Again, no details were given, and there was no mention of pasteffortstotransformthe BeachTowersorofprogress inBrookfield’seffortstosell the Paradise Island mega resort.
No reply was received to questions submitted by Tribune Business on these and other issues before press time last night. Atlantis, in early 2022, unveiled a partnership with Grammy Award-winning musician and producer, Pharrell Williams, and his business partner David Grutman, to rebrand the Beach Towers as ‘Somewhere Else’ but this stalled over inflated construction and redevelopmentcosts.
Nothing more has been heard of this. Tribune Business reportedlastNovember that VICI Properties, the multi-billion dollar owner of iconic Las Vegas mega resorts such as Caesars Palace, MGM Grand and the Venetian, was exploring a deal for Atlantis that could have involved its acquisition from Brookfield or just a partnership over the Beach Towers but this, too,hasgonequiet.
There has also been no official Brookfield
confirmation on whether the formal sales process it initiated in 2023, seeking a buyer for Atlantis, has ceased without finding a purchaser, although many observers believe the Paradise Island mega resort remains available if the owner’s multi-billion dollar askingpriceisevermet.
Mr Woods, whose union represents the line staff among Atlantis’ 6,200 employees, yesterday said he was unaware of the refinancing’s completion or Brookfield’s investment plans. However, he told this newspaper: “Any investment is great. It says that they are looking long-term; overtheyears.
“I’d like to try and get more information on that but, if all that materialises, and if they are saying it, I have to believe them. It will be very positive for them [employees]. It could spell long-term employment and new employment for some people, particularly at the Beach Towers because that is closed and has been closedforsometime.
“That will definitely have toberenovatedtoaparticular level to attract guests to that area. It’s a positive step in the right direction. Like anything else, we have got to wait and see.” Mr Woods added that hotel union officials and Atlantis executives are due to meet today to “finalise” everything relatedtotheCoralTowers’
temporary closure, which is due to take effect from Monday.
“We’ll know who’s going on vacation, who’s going on leave,andwhowillbetransferred to [other areas of the resort]becausetheyarestill trying to set their schedules up,” the BHCAWU chief said.
Brookfield’s $1.93bn refinancing of Atlantis’ debt is merely the latest in a series of rollovers and refinancings that have occurred ever since it replaced Kerzner International in 2011 as the mega resort’s owner via a debt-for-equity swap.
Tribune Business reported on July 29 that the debt was to be refinanced via the issuance of mortgagebackedsecuritiestothedebt holders.
Brookfield, in yesterday’s statement, said: “Brookfield is planning an additional $475m in capital improvements over the next five years. This includes a full renovation of The Cove starting in 2026, upgrading guest rooms, public areas, pools and dining venues, as well as a series of highimpact projects across the resort aimed at elevating the guest experience and strengthening Atlantis’ competitiveposition.
“These investments are expectedtocreatehundreds of local construction jobs and support new long-term employment opportunities for Bahamians. Atlantis is
IN THE COMMONWEALTH OFTHE BAHAMAS IN THE SUPREME COURT COMMON LAWAND EQUITY DIVISION 2025/CLE/QUI/00115.
IN THE MATTER OF all that piece parcel or lot of land comprising Twenty three thousand One hundred and fifty four square feet (23154 sq. ft.) being Lot Number 6, Block 24, situate on the northern side of Greenway Drive and on the southern side of Crescent Place in the Subdivision known as Lyford Cay intheWesternDistrictoftheIslandofNewProvidencewhichsaidpieceparcel of land is bounded Northwardly by a road called and known as “Crescent Place” and running thereon One Hundred and Forty (140.00) feet Westwardly by Lot Number 7 in the said Subdivision and running thereon One Hundred and Fifty (150.00) feet Southwardly by another road called and known as “Greenway Drive” and running thereon One Hundred and Sixty eight and seventy three hundredths (168.73) feet and Eastwardly by Lot Number 5 in the said Subdivision and running thereon One Hundred and Fifty (150.00) feet and which said piece parcel or lot of land has such position shape marks boundaries and dimensions as are shown on the Plan filed in this matter and is delineated on that part of the said Plan coloured Pink.
AND IN THE MATTER OF the Quieting TitlesAct, 1959 AND
IN THE MATTER OF the Petition of JAMES SCOTT VIRGILL and GEOFFREYTOMLINSON
PETITION
The Petition of JAMES VIRGILL and GEOFFREY TOMLINSON of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas in respect of:
IN THE MATTER OF IN THE MATTER OF all that piece parcel or lot of land comprising Twenty three thousand One hundred and fifty four square feet (23154 sq. ft.) being Lot Number 6, Block 24, situate on the northern side of Greenway Drive and on the southern side of Crescent Place in the Subdivision known as Lyford Cay in the Western District of the Island of New Providence which said piece parcel of land is bounded Northwardly by a road called and known as “Crescent Place” and running thereon One Hundred and Forty (140.00) feet Westwardly by Lot Number 7 in the said Subdivision and running thereon One Hundred and Fifty (150.00) feet Southwardly by another road called and known as “Greenway Drive” and running thereon One Hundred and Sixty eight and seventy three hundredths (168.73) feet and Eastwardly by Lot Number 5 in the said Subdivision and running thereon One Hundred and Fifty (150.00) feet and which said piece parcel or lot of land has such position shape marks boundaries and dimensions as are shown on the Plan filed in this matter and is delineated on that part of the said Plan coloured Pink.
NOTICE IS HEREBY GIVEN that JAMES VIRGILL and GEOFFREY TOMLINSON claim to be the owners in fee simple in possession of the said land and have made application to the Supreme Court of the Commonwealth of the Bahamas pursuant to the Quieting Titles Act, 1959 (Chapter 393) to have their title to the said land investigated and the nature and extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the saidAct.
AND TAKE NOTICE that copies of the Petition and a plan of the said land may be inspected during normal office hours at the following places:
(i) The Registry of the Supreme Court of the Commonwealth of The Bahamas on the first floor of the British American Building situate Marlborough Street on the Island of New Providence, one of the Islands of the said Commonwealth of The Bahamas; or
(ii) The Chambers of BAYCOURT CHAMBERS, Cumberland House, 15 Cumberland & Duke Streets, in the City of Nassau, New Providence aforesaid.
AND TAKE FURTHER NOTICE that any person having dower or right to dower, an adverse or a claim not recognized in the Petition shall file in the Supreme Court and serve on the Petitioner or its Attorneys an Adverse Claim in the prescribed form supported by an Affidavit on or before 30 days from today.
FAILURE OFANYPERSON to file and serve anAdverse Claim within 30 days from today will operate as a bar to such claim.
DATED the 12 day of FEBRUARY,A. D., 2025
BAYCOURT CHAMBERS
Cumberland House 15 Cumberland & Duke Streets Nassau, The Bahamas
Attorneys for the Petitioners
the largest private sector employer in The Bahamas, with approximately 6,200 team members. More than 20 percent of Atlantis employees have been with the resort for over two decades.”
Detailing past investments to refresh Atlantis’ guest and product offering, Brookfield added: “Since 2020, Brookfield has invested more than $260m to enhance Atlantis’ position as one of the world’s premier destination resorts. Recent capital projects include a $150m resortwide transformation of the guest rooms at The Royal, a renovation of the Atlantis casino,andseveralnewfood andbeverageconcepts.....
“These enhancements helped drive record visitation in 2024 and 2025 - the highest in the resort’s history – underscoring strong guest demand generated by Brookfield’s continued investment.” Brian Kingston, executive chair of Brookfield’srealestatebusiness,said:“Weareproudof ourlongstandinginvestment in Atlantis and our partnership with the Government ofTheBahamas.
“This refinancing positions us to continue enhancing the guest experience, creating jobs and ensuring that
BROOKFIELD ATLANTIS AERIAL SHOT
Atlantisremainsavitalcontributor to the Bahamian economy for years to come. We believe strongly in the future of luxury hospitality, andAtlantisexemplifiesour strategyofowningandoperating iconic, market-leading properties in premier global destinations.”
Chester Cooper, the deputy prime minister and minister of tourism, investments and aviation, in a statement timed to coincide with Brookfield’s announcement, said: “Brookfield’s planned investments at Atlantis Paradise Island are expectedtocreatehundreds of construction jobs and support long-term employmentacrossarangeofroles.
“These initiatives provide meaningful opportunities for skills development, onthe-job training and career advancement, contributing to the growth of a capable and versatile workforce within The Bahamas’ tourism sector. The Ministry of Tourism welcomes partnerships that help strengthen workforce readiness while supporting sustainable growthacrosstheindustry.”
The anticipated Cove improvements thus appear to be one of the biggest capital expenditures that Atlantis will have undertaken over the past ten to 15 years. The outlay
comes after “strong performance since COVID-19” with revenue per available (RevPAR), despite a slight year-over-yeardeclineof2.2 percent for the 12 months to end-May 2025, still some $49 ahead of pre-pandemic levelsfortheentireresort. RevPARisakeyindicator of hotel pricing power and visitor demand, as its measures yields from available room inventory. Analysts at Morningstar attributed the decline from a peak of $274 in2023,downtothepresent $260,on“thephasingoutof pent-up transient demand” from leisure visitors that builtupduetotheCOVIDrelated travel restrictions and lockdowns imposed from2020toearly2022.
As for Atlantis’ planned capital works, Morningstar said: “Between 2012 and 2024, the sponsor spent approximately $519.3m acrosstheresorttorenovate hotel rooms, lobbies, food and beverage offerings, and the casino, among other improvements. “Between 2025 and 2027, the borrower plans to renovated the guest rooms, pool deck and public areas at the Cove hotel tower with an anticipated capital expenditure spend of $135m. This translates into the equivalentof$225,000perkey.”
Mitchell: BTC reliability among Caribbean worst
RESOLUTION - from page B1
While many still want to interact with human customer service representatives, he added that carriers and similar businesses must also now account for other technology-based methods of resolvingcustomerqueries.
“Tocomeonthisjourney over the last 14 months, to have driven first call resolution metrics to where they’re at, I’m really, really pleased,” Mr Bhatti said. “At the time, we’re not saying we’re perfect. No. We’re on our journey, but we know our company is pointed in the right direction because we know we have to meet the needs of different segments. It’s not onesizefitsall.”
He added that BTC is seeking to enhance customer service through initiatives such as Silver Blue, which is targeted at subscribers aged 60 and over, offering “white glove treatment” through staff and technicians visiting them at their homes to explain how devices and products work, or how they can transition to new
services and the carrier’s fibre-to-the home network infrastructure.
However, among those less likely to be convinced about Mr Bhatti’s pledged service improvements is Fred Mitchell, the minister of foreign affairs, PLP chairman and Fox Hill MP. In a widely-circulated voicenoteissuedthisweek, he singled out BTC for criticism about its service qualityandreliability,citing the inability to connect whileoverseasanddropped What’sAppcallsinNassau.
And, recalling the Progressive Liberal Party’s (PLP) pledge in its Blueprint for Change, the 2021 election manifesto, to createanationalbroadband Internet work, he argued thatthisshouldberevisited given present communicationsservicesissues.
AssertingthatBTCkeeps charging him for a landline phone that has not worked for ten years, Mr Mitchell added: “That’s the general tale I tell about BTC and it’sgenerallackofabilityto serve the Bahamian people who own 51 percent of it but have no Board or managementcontrol.”
The Government and Cable & Wireless (C&W) Communications each own 49 percent of BTC, but the latter holds slightly more shares to give it Board and management control, with the 2 percent balance held bytheBTCFoundation.Mr Mitchell argued that BTC’s service challenges date back to its privatisation under the last Ingraham administration.
“April 2011 is a day that lives in infamy. Hubert Ingraham sold a perfectly well run company with millions of dollars in assets and hundreds of welltrained Bahamian workers for $210m,” Mr Mitchell argued. He added that taxpayers were saddled with theliabilityforcoveringthe deficit in BTC’s now-closed original employee pension fund, now estimated at $150m.
However, the pension deficit ballooned from an estimated $39m at the time of privatisation because subsequent administrations failed to make the required payments necessary to cover the hole. Privatisation also paved the way for deregulation and liberalisation of the communications
Vendors complain of heavy-handed attitude
MEETING - from page B1
Government’spositionis withtheplansandjust...we just need proper communication, especially in this day and time where people assume things unnecessarily,”saidMrBostwick.
“But the fact of the matter is, the Government would not go ahead without sitting down in publicconsultationwiththe stakeholders. The Tourism Development Cooperation, I think we are far beyond exercisinginanyirresponsiblemanner.Everythingthat wetakeintoconsideration.”
Mr Bostwick said the meeting plans to address multiple concerns, including environmental and sanitary issues. “These plans were on the table for at least about three to four years. There’s nothing new, but now, as you can see, it will be in the best interest ofthepublic-notonlyJunkanoo Beach but various spacesthatareinourcountry,”headded.
“We need to kind of bring things back in line, try to get things more uniformandmakeitasafeand
friendly environment for all.Therearealotofthings that we must address that I would not discuss at this time, but there are a lot of environmental concerns, sanitary concerns, there are alotofsafetyissues.
“Allthesewillhavetobe done collectively with all the stakeholders involved, and that would be the best way to move forward with these matters.” Mr Bostwick maintained that the TDC will not be “irresponsible” when dealing with Junkanoo Beach and its stakeholders, adding that all legal roadblocks have been settled to enable the plansto“moveforward”.
“The Tourism Development Corporation would not be irresponsible and move without having public stakeholder consultation with all involved. But the first thing in this process, you have to make sure that everybody’s on legal standing. And that was established by Justice Klein. So now we go to the next step,” said Mr Bostwick.
“The plans are in the Ministry of Works, and
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market, and improved consumerchoiceandpricing. But Mr Mitchell, arguing that the sale was “less than favourabletotheBahamian public”, added: “Since that time the telecommunications services have gone downhill, with staff layoffs and assets sold. Today we have, without a doubt, arguably the worst services from that company in the CARICOM countries, and it appears they are unable or unwilling to do anything aboutit.”
have been bullied, micromanaged and sometimes suspended, which has led togrowing“dissent”among them.
they’re moving forward. They will present at some point in time, but whatever adjustments are necessary to make this palatable and viableforalltobenefitfrom - and still be the best interest of the public - will be made.”
The Junkanoo Beach Vendors Association penned a letter to the Ministry of Tourism yesterday, highlighting the “immense pressure” vendors have been under and calling for greater collaboration “for thebenefitofall”.
Barron Coley-Austin, the Association president, told Tribune Business that vendors have faced a “whirlwind of intimidation”sinceanewofficialfor the Tourism Development Corporation was hired. He alleged that vendors
“He came in in December, and from he came it’s been a whirlwind of intimidation, just complete bullying. They are basically determining who should be here and who shouldn’t, and basically micromanaging a lot of the vendors and going up to approaching vendors’staffmembersand telling them they will be suspending them for three months at at time. It’s just been very contentious, and the level of the descent has escalated rapidly,” said Mr Coley-Austin. As to the Government’s plans to revitalise Junkanoo Beach, Mr Coley-Austin said the Association “endorses the Government’s efforts” and is looking forward to being a part of the consultation process. “We look forward to creating something special.It’sveryimportantthat
Asserting that he is “more than concerned than ever”, the PLP chairman said it was time to “move forward” on the party’s national broadband Internet network plan “because the existing plan seems to beunreliable”.
“It’scuriousthatthebusiness community is silent and society is silent generally in the face of this poor performance by the telephone company, BTC,” Mr Mitchell said. Recalling Mr Bhatti’s pledge that BTC is
thestakeholdershavesome seat at the table,” said Mr Coley-Austin.
“We are on board with the ministry when it comes to developing the country and improving the infrastructure, but they have to recognise that we’ve been here for 15 years. We put in all of the investment. We created Junkanoo Beach as a destination when no one wanted to come here. And we don’t receive funding. We don’t get advertising.Wetakecareof the restrooms, the grounds the beach, the sand. We take care of everything and allwewantisrespect.”
In response to the Association’s letter, the Ministry of Tourism, Investments and Aviation said there is “ongoing dialogue” with the group and all concerns are being addressed through “established processes”.
“The Ministry of Tourism, Investments & Aviation acknowledges the recent statement issued
listening to its customers’ concerns and complaints, he cited challenges with connecting while in the US and UK, while “the helplineseemstobehelpless”.
And, in Nassau, Mr Mitchell complained that What’s App calls only connect six seconds after they say they have, while calls oftenhavetobemadetwice because the original either disconnects or goes silent. Resolving these woes, he added, are “a key to our futuredevelopment”.
by the Junkanoo Beach Vendors Association. We recognise the important role vendors have played over the years in shaping Junkanoo Beach as a lively and essential part of the experience for both Bahamiansandvisitors,”saidthe MinistryofTourism,InvestmentsandAviation.
“The Ministry has had ongoing dialogue with vendors with a view to continuousimprovementofthe product and visitor experience. We are carefully addressing all concerns related to Junkanoo Beach from all stakeholders through established processes, and remain actively engagedthroughtheappropriatechannels.
“Our commitment is to work collaboratively toward a fair and lasting solution that respects the community’s contributions and supports the continued vitality of this important area for Bahamians and visitors.”
FRED MITCHELL
US applications for jobless benefits fell last week and remain in historically healthy range
By MATT OTT APBusinessWriter
THE number of Americans filing for jobless benefits fell modestly last week, remaining in the historically low range since the U.S. economy emerged from the COVID-19 pandemic.
Applications for unemployment benefits for the week ending Aug. 9 fell by 3,000 to 224,000, the Labor Department reported Thursday. That's below the 230,000 new applications that economists had forecast.
Weekly applications for jobless benefits are seen as a proxy for U.S. layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 since COVID-19 throttled the economy in thespringof2020.
Two weeks ago, a grim July jobs report sent financial markets spiraling, spurring President Donald Trump to fire Erika McEntarfer, the head of Bureau of Labor Statistics, which tallies the monthly employment numbers. The BLS does not contribute to the weekly unemployment benefits report except to calculate the annual seasonaladjustments.
U.S. employers added just 73,000 jobs in July, well shortofthe115,000analysts forecast. Worse, revisions to the May and June figuresshaved258,000jobsoff previous estimates and the
unemployment rate ticked upto4.2%from4.1%.
Without citing evidence, Trump accused McEntarfer of rigging the jobs data for political reasons.
On Monday, Trump nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to head the BLS. Antoni's nominationwasquicklymet with a cascade of criticism from economists across the politicalspectrum.
While layoffs remain low by historical standards, there has been noticeable deterioration in the labor market this year and mounting evidence that
people are having difficulty findingjobs.
U.S. employers posted 7.4 million job vacancies in June, down from 7.7 million in May. The number of people quitting their jobs — a sign of confidence in finding a better job — fell in June to the lowest level sinceDecember.
Some major companies have announced job cuts this year, including Procter & Gamble, Dow, CNN, Starbucks, Southwest Airlines, Microsoft, Google and Facebook parent company Meta. Intel and The Walt Disney Co. also recently announced staff reductions.
Many economists contend that Trump's erratic rollout of tariffs against U.S. trading partners has created uncertainty for employers,whohavegrown reluctant to expand their payrolls.
The deadline on most of Trump's proposed taxes on imports kicked in last week, though some deals have been made and other deadlines for negotiations — most importantly with China — have been extended. Unless Trump reachesdealswithcountries to lower the tariffs, economists fear they could act as a drag on the economy
SUPREME COURT ALLOWS MISSISSIPPI TO REQUIRE AGE VERIFICATION ON SOCIAL MEDIA LIKE FACEBOOK AND X
By MARK SHERMAN and LINDSAY WHITEHURST AssociatedPress
THE Supreme Court on Thursday refused for now to block enforcement of a Mississippi law aimed at regulating the use of social media by children, an issue of growing national concern.
The justices rejected an emergency appeal from a tech industry group representingmajorplatformslike Facebook,XandYouTube.
NetChoice is challenging laws passed in Mississippi andotherstatesthatrequire social media users to verify their ages, and asked the court to keep the measure on hold while a lawsuit playsout.
There were no noted dissents from the brief, unsigned order. Justice Brett Kavanaugh wrote that there's a good chance
NetChoice will eventually succeed in showing that the law is unconstitutional, but hadn't shown it must be
LEGAL NOTICE
MARMADUKE HOLDINGS LIMITED (In Voluntary Liquidation)
NOTICE is hereby given in pursuance of Section 218(e) of the Companies(WindingUpAmendment) Act, 2011, that the Members of the above-named Company by Resolution passed on the 1st day of August 2025 resolved that the Company be wound up voluntarily forthwith and that the Liquidator be Ms. Tanya P. Simmons of Ronald Atkinson & Co., Chartered Accountants, Marron House, Virginia and Augusta Streets, P. O. Box N-8326, Nassau, Bahamas.
Dated the 13th day of August 2025.
Tanya P. Simmons Liquidator
UK GROWTH SLOWS IN SECOND QUARTER BUT COMES IN HIGHER THAN EXPECTED
LONDON AssociatedPress
BRITAIN'S economy slowed down during the second quarter of the year in the face of higher taxes on businesses and global tariff uncertainties, but growth came in higher than anticipated, official figures showedThursday.
The Office for National Statistics said output expanded by 0.3% during the second quarter from the previous three-month period, largely as a result of a strong performance in June.
blocked while the lawsuit unfolds.
NetChoice argues that the Mississippi law threatens privacy rights and unconstitutionally restricts the free expression of users ofallages.
A federal judge agreed and prevented the 2024 law from taking effect. But a three-judge panel of the 5th Circuit U.S. Court of Appeals ruled in July that the law could be enforced whilethelawsuitproceeds.
It's the latest legal development as court challenges playoutagainstsimilarlaws instatesacrossthecountry. Parents and even some teenagers are growing increasingly concerned about the effects of social mediauseonyoungpeople. Supporters of the new laws have said they are needed to help curb the explosive use of social media among young people, and what researchers say is an associated increase in depression andanxiety.
NOTICE Panapanas Inc Ltd.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 201782 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 14th day ofAugustA.D. 2025.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mrs. Claudia Galvao, whose address is R Paulistania, 413 Ap 6 Sumarezinho, Sao Paulo, SP, CEP: 05440-000, Brazil. Any Persons having a Claim against the above-namedCompany are required on or before the 13th day of SeptemberA.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 14th day of August A.D. 2025.
CLAUDIA GALVAO LIQUIDATOR
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 September A.D., 2025. In default thereof, they will be excluded from the benefit of any distribution made by the Liquidator.
Dated the 15th day of August, A.D., 2025.
and spark another rise in inflation.
Also Thursday, new government data showed that U.S. wholesale inflation surged unexpectedly last month, a sign that Trump's sweeping taxes on imports arepushingcostshigher.
Thursday's jobless benefits report showed that the four-week average of claims, which smooths out some of the week-to-week volatility, ticked up by 750 to221,750.
The total number of Americanscollectingunemployment benefits for the previousweekofAug.2fell by15,000to1.95million.
Mississippi Attorney General Lynn Fitch told the justices that age verification could help protect young people from "sexual abuse, trafficking, physical violence, sextortion and more," activities that Fitch noted are not protected by theFirstAmendment. Communications director MaryAsa Lee said the state is grateful for the decision, andexpectsthecasetoproceed "in a way that permits thoughtful consideration of theseimportantissues."
NetChoice represents some of the country's most high-profile technology companies, including Google, which owns YouTube; Snap Inc., the parent
Though that was lower than the 0.7% increase in the first quarter of the year, it was ahead of market expectations of only a 0.1% rise. The bigger than expected increase will be welcome news to the Labour government, which hasmadeimprovinggrowth its number one priority since it returned to power in July 2024. Higher growth will also bolster public financesasitleadstohigher taxrevenues.Ifgrowthcontinues to beat expectations in coming months, Treasury chief Rachel Reeves will be under less pressure to deliver another big taxraisingbudgetthisfall.
Reeves said Thursday's figures were "positive" but added that there is "more to do" to drive growth in theeconomy.
The British economy, the sixth-largest in the world, has underperformed its long-run average since the global financial crisis of 2008-9.
company of Snapchat; and Meta, the parent company ofFacebookandInstagram. NetChoice has filed similar lawsuits in Arkansas, Florida, Georgia, Ohio and Utah.
Paul Taske, co-director of the NetChoice Litigation Center, called the decision "an unfortunate procedural delay."
"Although we're disappointed with the Court's decision, Justice Kavanaugh's concurrence makesclearthatNetChoice will ultimately succeed in defendingtheFirstAmendment—notjustinthiscase but across all NetChoice's ID-for-Speech lawsuits," he said.
NOTICE
PARKVIEW INVESTMENT 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 PARKVIEW INVESTMENT 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 4th day of July, 2025.
TONI Y. GODET and CELESTE F. MITCHELL Liquidators
N O T I C E IS HEREBY GIVEN as follows: (a)
PAKISTAN LNG LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.
(b) The dissolution of the said Company commenced on the 13th day of August 2025 when its Articles of Dissolution were submitted to and registered by the Registrar General.
(c) The Liquidator of the said Company is Michael J. Gilroy, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A.
Dated the 15th day of August, 2025
HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company
Photo:Nam Y. Huh/AP
Takeaways from AP’s investigation into online school for incarcerated teens
By BIANCA VÁZQUEZ
TONESS
Education Writer
AP
NO matter the offense, states must educate students in juvenile detention. It's a complicated challenge, no doubt — and successstoriesarescarce.
In Florida, where more than 1,000 students are in long-term confinement, the state last year put those kids' schooling online. That's despite strong evidence that online learning failed many kids during the pandemic. The state juvenile justice system contracted with the Florida Virtual School, one of the nation's oldest and largest onlinelearningsystems.
Stateleaderswerehoping
Florida Virtual School would bring more rigorous, uniform standards across their juvenile justice classrooms. When students left detention, the theory went, they could have the option of continuing in the online schooluntilgraduation.
But an AP investigation showed the online learning has been disastrous. Not only are students struggling to learn, but their frustrationwithvirtualschoolalso leadsthemtogetintomore trouble — thus extending their stay in juvenile detention.
Here are key takeaways fromtheinvestigation.
Detained students say they're getting little support with online school
In interviews, students describe difficulty understanding their online schoolwork. In embracing Florida Virtual School, the residential commitment centers stopped providing in-person teachers for eachsubject,relyinginstead
on the online faculty. The adults left in classrooms with detainees are largely serving as supervisors, and studentssaytheyrarelycan answer their questions or offer assistance. Students also report difficulty getting help from the online teachers.
A dozen letters from incarcerated students, written to lawmakers and obtained by The Associated Press, describe online
schoolwork that's hard to access or understand — with little support from staff.
"Dear Law maker, I really be trying to do my work so I won't be getting in trouble but I don't be understanding the work," wrote one student. "They don't really hands on help me."
Wrote another: "My zoom teachers they never emailmebackortrytohelp
Warren Buffett's company reveals new investments in Nucor, UnitedHealth and two big homebuilders
By JOSH FUNK AP Business Writer
BERKSHIRE Hathaway revealed four new investments Thursday in steelmaker Nucor, insurer UnitedHealth and two of the nation's biggest homebuilders — Lennar and DR Horton — but it's not clear if the investments are big enough to ensure that legendary investor Warren Buffetthandledthem.
Buffett, who plans to retireasCEOattheendof theyearaftersixdecadesof building Berkshire, handles all of the conglomerate's biggest investments worth
$1 billion or more. Three of the new investments disclosed Thursday in a filing with the Securities and Exchange Commission are worthlessthanthat,sothey could be the ideas of one of Berkshire's two other investmentmanagers. But Berkshire's new UnitedHealth stake that was also revealed Thursdaywasworth$1.57billion, so that one could be big enough to be Buffett's handiwork. Berkshire got permissionfromtheSECto keeptheotherthreeinvestments confidential earlier thisyearwhileitbuiltthose
stakes, but it apparently bought nearly 5 million UnitedHealth shares just in the second quarter. That stock jumped nearly 8% in aftermarkettrading.
Berkshire's filings simply offer a snapshot of its $258 billion portfolio at the end of the second quarters. Many investors comb through Berkshire's filings every quarter because theyliketofollowBuffett's
moves. His record of trouncing the S&P 500 for decadeshasinspiredlegions offollowers.
The filing doesn't make clear who at Berkshire handled each investment.
Besides Buffett, Ted Weschler and Todd Combs also pick stocks, but they generally handle smaller portfolios and Combs also servesasGeico'sCEO.But Buffetthashadahardtime
me with my work. It's like they think we're normal kids. Half of us don't even know what we're looking at."
Frustration with school has led to outbursts — adding to students' time in custody When students misbehave in long-term confinement, their stays can be extended. At the low end is a "level freeze," when a student can't make progress toward release for a few days. For more serious offenses, students are sent back to county detention centers to face new charges. The weeks they spend there are called "dead time," because they can't count toward their overallsentence.
And since Florida adopted online school in its residential commitment centers, students' frustration with their learning has ledtolongerstays.
One teen described having trouble passing an onlinepre-algebratest.The adult supervising the classroom couldn't help him. Frustrated, he threw his desk against the wall. He received a "level freeze" of three to five days, essentially extending his time at the residential commitment center.
finding stocks or any other investments in recent years that he wants to invest much of Berkshire's $344 billioncashin.
Berkshire's Nucor stake of 6.6 million shares was the biggest new investment worth roughly $857 million at the end of the quarter. Sharesofthatcompanyrose more than 6% in extended after-hourstrading.
The Lennar investment was worth nearly $800 million. While the DR Horton stake was much smaller worth$191.5million.Those companies' stocks also saw gainsinlatetrading
The total number of youth in Florida's residential commitment centers increased to 1,388 in June, the latest data reported by the state, up 177 since July 2024, when the department adopted virtual instruction. That could indicate detainees are staying in confinementlonger.
"Correlation does not equal causation," responded Amanda Slama, a Department of Juvenile Justicespokeswoman.
Going back to school after leaving detention is tricky
One of the arguments Florida made for using online schooling was that students could continue their studies at Florida Virtual School after leaving detention, when many struggle to re-enter their localpublicschools. That's not as easy as it seems.OnestudentinAP's investigation was refused entry to his local middle school; officials said he was toooldtoenroll.
Another teen has broken three laptops, his grandmothersays—twoof theminfrustrationwithnot receiving help with online school. Each offense has added to his time in confinement. He initially was sentenced to six to nine months for breaking into a vape store, but now is on track to be locked up at least28months.
Buffett already knows quite a lot about the home building business because Berkshireownsthenation's largest manufactured homebuilder, Clayton Homes. Besides stocks, Berkshire owns dozens of companies in a variety of industries including Geico insurance, BNSF railroad, several major utilities and an assortment of manufacturingandretailcompanies. The Omaha, Nebraskabased company's holdings include many well-known brands like See's Candy andDairyQueen.
JULIE Nicoll shows shows an undated photo with her grandson Xavier Thursday, April 24, 2025, in Naples, Fla. Julie and her husband have spent more than $20,000 in legal fees trying to get him released from a youth detention center.
Photo:Marta Lavandier/AP
AIR QUALITY CONCERNS LINGER IN THE WAKE OF STEEL PLANT EXPLOSION IN PENNSYLVANIA
By MICHAEL CASEY Associated Press
THE Pennsylvania county where an explosion at a U.S. Steel plant south of Pittsburgh killed two people and injured more than 10 others announced Thursday that it is stepping up air quality monitoring in the area of the sprawling facility that has a troubled environmentalrecord.
The Allegheny County Health Department announced that mobile air units provided by the state and Carnegie Mellon University will be stationed in the Mon Valley where the plant is Thursday and Friday. The county said these measures are part of its ongoing investigation into Monday's explosion at ClairtonCokeWorks.
The county said the measures go "well beyond the normal and rigorous regulatory air quality monitoring"andwillassessparts of the valley for different types of pollutants such as volatile organic compounds, PM2.5 pollutants andsulfurdioxide.
After Monday's blast, the county health department initially told residents within 1 mile (1.6 kilometers) of the plant to remain indoors and close all windows and doors. The department lifted the advisory after its monitors didn't detect levels of soot orsulfurdioxideabovefederalstandards.
Dr. Deborah Gentile, the medical director of Community Partners in Asthma
To make coke, coal is baked in special ovens for hours at high temperatures to remove impurities that could otherwise weaken steel. The process creates what is known as coke gas — a lethal mix of methane, carbon dioxide and carbon monoxide.
The plant has a long history of environmental problems, especially fouling the air in communities nearbythesprawlingplant.
In 2018, a Christmas Eve fire damaged pollutioncontrol equipment and led to repeated releases of sulfur dioxide, according to a subsequent lawsuit. The fire prompted Allegheny County to warn residents to limit outdoor activities. Residents said it was hard to breathe for weeks afterward and that the air felt acidic and smelled like rotten eggs. U.S. Steel settled a lawsuit last year with an agreement to spend $19.5 million in equipment upgrades and $5 million on local clean air efforts and programs.
In2019,U.S.Steelagreed to settle a lawsuit regarding air pollution from Clairton for$8.5million.
The concerns about air quality also come as the federal Environmental Protection Agency moves to postpone new hazardous air pollution standards for cokeplants,likeClairton.
“The current regulatory monitors are in fixed locations, and many residents live in closer proximity to the plant than these stationary monitors.”
Care, called the mobile units an "excellent move for the county" because the general public "has no idea what is going on at the facility."
"The current regulatory monitors are in fixed locations, and many residents live in closer proximity to the plant than these stationary monitors," she said. "Having monitors in additional locations will help identify if there are any exceedances of the criteria pollutants. So this is good news."
The Allegheny County Medical Examiner's Office also confirmed Thursday that the second person who diedintheblastwasSteven Menefee, 52, of Clairton. Earlier, the county medical examiner's office identified one of the dead as Timothy Quinn,39.
U.S. Steel CEO David Burritt said Tuesday the company is working closely with local, state and federal authorities. He would not speculate about the cause oftheexplosion.
The massive plant along the Monongahela River in Clairton converts coal to coke, a key component in the steelmaking process.
The facility is considered thelargestcokingoperation in North America and is oneoffourmajorU.S.Steel plantsinPennsylvania.
PUBLIC NOTICE
REAL ESTATE BOARD
LICENSED BROKERS/SALESMEN/APPRAISERS/DEVELOPERS
The Public is notified for general information that the following persons have renewed their licenses as of January 1st,
These licenses are valid until December 31, 2025. The public is advised that the list of names below include registered, licensed members of The Bahamas Real Estate Association. The public is further advised that only licensed real estate salesmen and brokers are legally permitted to conduct the business of real estate in The Bahamas.
Atilus
Matthew Mehalik, executive director of the Breathe Project, a public health advocacy group in Pittsburgh, said the regulations were deemed to be almost insignificant to operational costs and would have helped protect the public withairqualitymonitoring.
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The regulation would have required — like is already required at refineries all over the United States — fence-line monitoring for hazardous air pollutants at the Clairton plant,Mehaliksaid. That information would have been "incredibly useful" when the explosion happened on Monday, Mehaliksaid.
Gentile, who studied asthma levels after the 2018 fire and found twice as many patients sought medical treatment, said the fencelinedata,ameasureof airpollutionattheproperty lineofamanufacturingsite, would have helped with the latestblast.
"If fenceline monitoring were in place at the time of the event and now in the aftermath, it would be providing us with valuable information on emissions during these times, which inturnwouldhelpusadvise thecommunityontheirrisk of adverse health effects," shesaid.
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THE CLAIRTON Coke Works, a U.S. Steel coking plant, is seen
Monday, Aug 11, 2025, in Clairton, Penn. Photo:Gene Puskar/AP
Swifteverdoesissmall,her two-hour conversation with boyfriend Travis Kelce and his brother Jason Kelce on their "New Heights" podcast is a watershed moment for a media format that has already outlived the device itwasnamedfor.
By Thursday afternoon, Wednesday night's talk had already been seen more than 11.7 million times on YouTube. But that's only a fraction of its circulation — clips distributed on Instagram, TikTok, X and elsewhere have received more than 400 million views, and the episode was also available for streaming onaudioplatforms.
Swift, who infrequently gives interviews to journalists, revealed key information about her upcoming album, "The Life of a Showgirl," and talked aboutherrelationshipswith TravisKelceandherfamily, and her joy of gaining full control of her past work — ayearslongquest. It was a revelation for fans with whom she's primarily communicated through her music and social media Easter eggs, a treasure hunt of clues about what she's doing professionally.
"We have not heard Taylor speak in like a longform interview like that in about five years," Alex Antonides, a superfan from Dallas, told The Associated Press. "She's never been in that comfortable of a situation,either.It'salwaysbeen like more professional, like a professional interviewer asking her questions. And then this is like with her boyfriend and his brother. So that was ... an environmentwe'vetrulyneverseen herinbefore."
Celebrities like a friendly faceforpublictalks Swift cemented a trend that's been seen in recent years among entertainers, sports figures and politicians who seek to deliver particular messages. A visit to friendly faces for a long-form conversation beats questions from nosy, prying journalists. In this case,SwiftandTravisKelce locked arms and cooed at each other between admiring queries. "My boyfriend says," Swift said in asides when Kelce laid things on toothick.
"TheKelcebrothershave become the Barbara Walters of their generation," said Nick Cicero, founder of Mondo Metrics, which studiesthepodcastindustry.
Fans ate it up. "I think it's really nice and refreshing, especially for a woman whose primary fan base is young women, to see somebody that is so celebratory oftheirpartnerandalsonot self-deprecating in a bad way, but also really admires what they do, and they don't try to minimize that,"
one fan, Britton Copeland, who goes by Britton Rae on TikTok, said in a Zoom interview.
Swift interpreters immediately began online discussions about What It All Means. One fan discussed theories about the still-unheard song, "The Fate of Ophelia," listed as the new album's first cut. Others pointed out that the album release date of Oct. 3 coincided with National Plaid Day — apparently a Swift obsession — and NationalBoyfriend'sDay. Such Easter eggs are likely to bring listeners back to the "New Heights" interview again and again, meaning it could eventually stand as the most listened-to podcast episode onYouTubeever."It'sgota chance,"Cicerosaid. Podcasts emerged in the 2000s as an audio-only programming format tied to Apple's now-defunct iPod. The New Oxford American Dictionarycalled"podcast" itswordoftheyearin2005, even as many in the industry sought an alternative name almost as soon as it wascoined.
The well-regarded "Serial" podcasts helped bring the format into the mainstream a decade ago. Particularly since the pandemic, and with the explosive growth of YouTube and personalities like Joe Rogan, video podcasts have become far more popular. Like most interview podcasts, "New Heights" can also be enjoyed in an audio format — and it's background noise even for many who air it on YouTube — but being able to see Swift and the Kelces interacthasitsbenefits.
Will Swift outdraw President Trump's appearance withRogan?
Rogan's interview with President Donald Trump was a key moment in the 2024 presidential campaign, and has been seen 59 million times on YouTube in nine months. Certainly Swifties — and possibly Trump himself — will be eager to see if the "New Heights" interview exceeds thatnumber.Swiftisamong the celebrities who has drawnthepresident'sire. It has further to go to be arecord-setter,though.The most-watched podcast episode ever on YouTube, and likely the most-consumed podcast ever, is AbdulrahmanAbuMaleh'sinterview with relationship coach Yasser Hazimi for "Secrets to Thriving Relationships" from the Saudi Arabian company Thmanyah. It has rackedup144millionviews intwoyears.
Swift's and the Kelces' teams were was particularly skillful in creating a huge demand for the interview with how its spread clips across various social media platforms, said Tom Webster,founderofSounds Profitable, a firm that analyzes the podcast industry. By Thursday morning, Instagram highlights alone from the interview were viewed more than 350 mil-
AIR Canada executives leave after they are interrupted by Air Canada flight attendants during a press conference as a possible strike looms, in Toronto, on Thursday, Aug. 14, 2025.
What to know if your Air Canada flight gets canceled
By RIO YAMAT Associated Press
SUMMER travelers are facing uncertainty as the clock winds down on a possible strike by Air Canada flight attendants, which the airline said would force it to cancel almost all of its scheduled flights as soon as Saturday.
The Canadian carrier on Thursday began what it describedasa"phasedwind down" of most operations thatincludedmultipleflight cancellations. Air Canada said it was suspending its schedule and trying to get passengers booked with other airlines to limit disruptions if members of its cabin crews walk off the job.
Both the union that represents about 10,000 Air Canada flight attendants and the airline say disagreements over key issues, including pay raises, have brought contract talks to a standstill.
A complete shutdown of the country's largest airline threatens to impact about 130,000 people a day. Here's what to know about the rights of passengers and airline consumer protections:
Impacted passengers will be notified
Air Canada said it would reach out via email or text to let customers know if their flights are canceled. The cancellations on Thursday included some long-haul overseas flights. By the end of Friday, the airlineexpectstocancel500 flights.
Flight attendants are threatening to strike at 1 a.m. EDT Saturday if they don't have a new contract by then. If the walkout happens, the airline said it would suspend all of its Air Canada and Air Canada Rouge flights, but not the regional Air Canada Express flights operated by Jazz Aviation and PAL Airlines.
How long the airline's planes will be grounded remains to be seen. Air Canada Chief Operating Officer Mark Nasr said the decision to lock out the union members even if it meant halting flights would help facilitate an orderly restart, "which under the bestcircumstanceswilltake afullweektocomplete."
A complete grounding would affect 25,000 Canadians a day who traveled abroad and may become stranded.
You have options if your flight is canceled
Passengers whose travel is impacted will be eligible to request a full refund on the airline's website or mobile app, according to AirCanada.
The airline said it would also offer alternative travel options through other Canadian and foreign airlines when possible. But
it warned that it could not guarantee immediate rebooking because flights onotherairlinesarealready full "due to the summer travelpeak."
Passengers with the flexibility to reschedule their travelplanscanalsorebook their flights for dates between Aug. 21 and Sept. 12atnoadditionalcost,Air Canadasaid.
The airline says that under federal regulations, flight cancellations caused by a strike or lockout are considered outside the carrier's control, meaning customers are not eligible for compensation for food and lodging expenses incurred during the labor dispute.
Most of the union voted to strike
Air Canada and the Canadian Union of Public Employees have been in contract talks for about eightmonths,buttheyhave yet to reach a tentative deal.
By the end of July, the union put it to a vote, and 99.7% approved a strike.
The union on Wednesday gave Air Canada a 72-hour strike notice. The airline responded with a so-called lockout notice, saying it would prevent the flight attendantsfromworkingon Saturday.
Theunionsaiditrejected a proposal from the airline to enter a binding arbitration process that would have prevented flight attendants from walking off the job, saying it prefers to negotiate a deal that its memberscanthenvoteon.
Arielle Meloul-Wechsler, Air Canada's head of human resources, said the company was weighing all of its options, including asking for government intervention.
Negotiations break down over pay
Both the union and the airline say they remain far apart on the issue of pay and the unpaid work flight attendants do when planes aren'tintheair.
The airline said its latest offer included a 38% increase in total compensation, including benefits and pensions over four years. But the union pushed back, saying the proposed 8% raise in the first year didn't go far enough because of inflation.
Vancouver-based flight attendant Henly Larden, who has worked for Air Canada since 2017, said the unionalsowon'tbackdown on its goal to get flight attendants paid for the time they're on the ground. Larden,33,calledita"very archaic expectation" to work for free during the boardingprocess.
"Just because it's a past practice doesn't mean here in 2025 that it's OK or it's right, and we want to changethatgoingforward," shesaid.
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Photo:Nathan Denette/AP
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SOCIAL SECURITY HAS EXISTED FOR 90 YEARS.
By FATIMA HUSSEIN Associated Press
WHEN President Franklin D. Roosevelt signed the Social Security Act into law 90 years ago this week, he said it would provide economic stability to older peoplewhilegivingtheU.S. "an economic structure of vastlygreatersoundness."
Today, the program provides benefits to almost 69 million Americans each month. It's a major source of income for people older than 65 and is popular across the country and politicallines. It also looks more threatenedthanever.
Just as it has for decades,SocialSecurityfacesa looming shortfall in money to pay full benefits. Since President Donald Trump took office in January, the program has faced more tumult. Agency staffing has been slashed. Unions and advocacy groups concerned about sharing sensitive information have sued. Administration officials,includingthepresident, have falsely claimed thatmillionsofdeadpeople were receiving Social Security benefits. Former top adviser Elon Musk said the program was a potential "Ponzischeme."
At an Oval Office event Thursday commemorating the program's anniversary, Trump said that under his watch "we're strengthening it." But the president and Republicans who control Congress have not proposed a long-term solution toshoreuptheprogram.
Social Security remains far from the sound economic system that Roosevelt envisioned, due tochangesmade—andnot made — under both Democratic and Republican presidents.
Here's a look at past and current challenges to Social Security,theproposedsolutionsandwhatitcouldtake toshoreuptheprogram.
The go-broke date has been moved up
The so-called go-broke date—orthedateatwhich Social Security will no longer have enough funds to pay full benefits — has been moved up to 2034, instead of last year's estimate of 2035. After that point,SocialSecuritywould only be able to pay 81% of benefits, according to an annual report released in June.Theearlierdatecame as new legislation affecting Social Security benefits have contributed to earlier projected depletion dates, thereportconcluded.
The Social Security Fairness Act, signed into law by Democratic President Joe Biden and enacted in January, had an impact. It repealedtheWindfallElimination and Government Pension Offset provisions, increasing Social Security benefit levels for former publicworkers.
The new tax law signed by Trump in July will accelerate the insolvency of Social Security, said Brendan Duke at the Center on Budget and PolicyPriorities.
"They haven't laid out an idea to fix it yet," he said. Trump on Thursday repeated the claim that his new tax and spending law will eliminate taxes on federal Social Security benefits.
Thatlawhasatemporary tax deduction for people 65 and over that applies to all income, not just Social Security. But not all Social Security beneficiaries can claim it; among those who cannot are low-income olderadultswhodonotpay taxesonSocialSecurity.
AARP CEO Myechia Minter-Jordan said the number of beneficiaries is set to increase to 82 million people by the time Social Securityturns100.
"As we look ahead to the next 90 years of Social Security, it's critical that it remains strong for generationstocome,"shesaidina statement.
The privatization conversation has been revived
The notion of privatizing Social Security surfaced most recently when Treasury Secretary Scott Bessent this month said new taxdeferred investment accounts dubbed " Trump accounts " may serve as a " backdoor to privatization," thoughTreasuryhaswalked backthosecomments.
The public has been widely against the idea of privatizing Social Security since Republican President George W. Bush embarked on a campaign to pitch privatization of the program in 2005, through voluntary personal retirement accounts. The plan was not well-receivedbythepublic.
Glenn Hubbard, a Columbia University professor and top economist in Bush's White House, told The Associated Press that Social Security needs to be reduced in size in order to maintain benefits for generationstocome.Hesupports limitingbenefitsforwealthy retirees.
"We will have to make a choice," Hubbard said. "If you want Social Security benefits to look like they are today, we're going to have to raise everyone's taxes a lot. And if that's what people want, that's a menu,andyoupaythehigh priceandyoumoveon."
Another option would be to increase minimum benefits and slow down benefit growth for everyone else, which Hubbard said would right the ship without requiring big tax increases, ifit'sdoneovertime.
"It's really a political choice," he said, adding "Neither one of those is painfree."
Nancy Altman, president of Social Security Works, an advocacy group for the preservation of Social Security benefits, is more worried that the administration of benefits could be privatized under Trump, rather than a move toward privatized accounts. The agency cut more than 7,000 fromitsworkforcethisyear as part of the Department of Government Efficiency's effort to reduce the size of thegovernment.
ASocialSecurityAdministration representative didn't respond to a request forcomment.
Concerns persist
An Associated PressNORC Center for Public Affairs Research poll conducted in April found that an increasing share of older Americans — particularly Democrats — support the program but aren't confident the benefit will be available to them when theyretire.
"So much of what we hear is that its running out of money," said Becky Boober, 70, from Rockport, Maine, who recently retired after decades in public service. She relies on Social Security to keep her finances afloat, is grateful for the program and thinks itshouldbeexpanded.
"In my mind there are several easy fixes that are not a political stretch," she said. They include raising the income tax cap on high-income earners and possibly raising the retirementage,whichiscurrently 67 for people born after 1960, though she is less inclined to support that change.
Some call for shrinking the program Rachel Greszler is a seniorresearchfellowatthe Heritage Foundation, the group behind the Project 2025 blueprint for Trump's secondterm.Itcalledforan increase in the retirement age.
Greszler says Social Securitynolongerservesits intended purpose of being a social safety net for lowincome older adults and is far too large. She supports pursuing privatization, which includes allowing retirees to put their Social Security taxes into a personalinvestmentaccount.
JUDGE APPOINTS RECEIVER TO SELL OFF ALEX JONES’S INFOWARS ASSETS TO HELP PAY SANDY HOOK FAMILIES
By DAVE COLLINS Associated Press
A STATE judge in Texas has appointed a receiver to take over and sell conspiracy theorist Alex Jones' Infowars assets to help pay the more than $1 billion he owes in legal judgments to the families of victims of the Sandy Hook ElementarySchoolshooting.
TheorderbyJudgeMaya Guerra Gamble in Austin on Wednesday has the potential to shut Jones out of his studio in the coming days. It also appeared to restart an effort by The Onion satirical publication to buy Infowars and its assets and turn the platform into a parody site.
"We're working on it," Ben Collins, chief executive of The Onion, said in a social mediapostWednesday.
On his daily show Thursday, Jones called the Texas court order improper and vowed to keep broadcasting if he is locked out. He added he has another studio already set up in the eventofsuchascenario.
"People want to hear this show," said Jones, who is basedinAustin."Iwillcontinue on with the network. Theycanharassmeforever. ... And they won't get me offtheair."
Jones said he expected Infowars to be sold to someone or some entity thatwillkeepitontheair.
The Sandy Hook families won nearly $1.5 billion in judgments in 2022 against Jones and Infowars' parent company, Free Speech Systems, in lawsuits filed in Connecticut and Texas accusing him of defamation andinflictingemotionaldistress.TheysuedoverJones' repeated comments that the 2012 school shooting in Connecticut that killed 20 first graders and six educators was a hoax. Victims' relatives testified in court about being terrorized by Jones'supporters.
Jones and his company both filed for bankruptcy in 2022. A federal Bankruptcy Court judge in Houston ordered Free Speech Systems' assets, including Infowars'productionequipment and its intellectual property, to be sold at auction to help pay the Sandy Hooklegaljudgments.
The sale process was derailed when the bankruptcy judge, Christopher Lopez, rejected the outcome of a November auctioninwhichTheOnion was named the winning bidder over only one other proposal by a company
affiliated with Jones. The auction was by sealed bids only and no live bidding washeld. Lopez had several concerns about the auction, including a lack of transparency and murky details about the actual value of The Onion's bid and whether it was better than theotheroffer.Jonescalled the auction "rigged." The judge rejected holding another auction and said the families could pursue the liquidation of Jones' assets in the state courts where the defamation judgmentswereawarded.
The Texas judge's order on Wednesday gave Free Speech Systems five days from when the order is formally served on the company to turn over its assets. Proceeds from any sales would go to the Sandy Hookfamilies.
The judge also authorized the receiver to change the locks at all locations containing Free Speech Systems assets. She also authorized law enforcement officers to assist the receiver in his duties and prevent anyone from interfering with the receiver in taking possession of the assets.
It was not clear Thursday when the order would be served on the company, or when the receiver planned to take over the assets and sell them. The receiver, GregoryMilliganinAustin, did not return an email seeking information about theliquidationplans.
Jones' lawyer, Ben Broocks,alsodidnotreturn an email seeking comment Thursday.
Jones said on air Thursday that the state court order was not valid because FreeSpeechSystems'assets are still under the control of the trustee in his bankruptcycaseinfederalcourt. He said there was a state court hearing set for Sept. 16. He said Infowars could be closed next week, or it maybeabletokeepoperatingpendingthehearing.He said he wasn't exactly sure what would be happening next.
Last November after The Onion was named the winning bidder, a bankruptcy court trustee shut down Infowars' Austin studio and its websites for about 24 hours, but then allowed themtoresumethenextday as disputes over the auction continued in court. During the shutdown, Jones moved to a nearby studio and continuedbroadcasting.
Louisiana sues Roblox alleging the popular gaming site fails to protect children
By SARA CLINE and BARBARA ORTUTAY Associated Press
LOUISIANA sued the online gaming platform Roblox on Thursday, alleging the wildly popular site has perpetuated an environment where sexual predators "thrive, unite, huntandvictimizekids."
The lawsuit, filed in state court by Louisiana Attorney General Liz Murrill, alleges that Roblox has failed to implement effective safety measures to protect child users from adultpredators.
"Due to Roblox's lack of safety protocols, it endangers the safety of the children of Louisiana," Murrill said in a news release. "Roblox is overrun with harmful content and child predators because it prioritizes user growth, revenue, and profits over child safety."
The company has faced lawsuits and backlash for not doing enough to protect kids on its gaming services. Last month, a lawsuit was filed in Iowa after a 13-year-old girl was allegedly introduced to an adult predator on the platform, then kidnapped and traffickedacrossmultiplestates andraped.
In Louisiana, Livingston Parish Sheriff Jason Ard
Sharese Lotmore
Patricia Love
DanielWilliam Lowe
LoweII
saidhisofficehashadmultiple cases involving Roblox. In one, police allege a man used voice-altering technology to pose as a girl on the platform. Ard said there have yet to be any arrests made related to the gaming site.
Ultimately, Murrill said she believes Roblox should beshutdown. An email seeking comment was sent to the companyThursday. The free online gaming platform has more than 111 million monthly users. Its website describes Roblox as "the ultimate virtual universe that lets you create, share experiences with friends, and be anything youcanimagine."
Roblox doesn't allow users to share videos or images in chats and tries to block any personal information, such as phone numbers. However, as with other gaming platforms and social media sites with similar policies, people find ways around such safeguards.
Roblox, which according to its website has "a zero-tolerance policy for the exploitation of minors," doesn't allow children under 13 to chat with other users outside of games unless they have explicit parentalpermission.
INFLATION OR JOBS: FEDERAL RESERVE OFFICIALS ARE DIVIDED OVER COMPETING CONCERNS
By CHRISTOPHER RUGABER APEconomicsWriter
ONE major question will be front and center for Federal Reserve policymakers as they prepare for an annual conference in Jackson, Wyoming next week and a crucial policy meeting in September: Which is a bigger problem for the economy right now, stubborninflationorslower hiring?
Weak job gains since April have pushed some officials toward supporting a cut in the Fed's key rate as soon as next month, but speeches and comments by other Fed policymakers show that inflation is still a concern.
That could make the Fed's ultimate move at its September 16-17 meeting a close call. There will be another jobs report and another inflation report before then, and both will likely heavily influence the decision of whether to cut or not. The uncertainty also means that Fed Chair Jerome Powell's speech next Friday in Jackson will be closely watched for any cluesaboutnextsteps.
If Fed officials worry more that unemployment will start to rise and the economy falter, they are more likely to reduce their rate in order lower borrowing costs and spur borrowing and spending. Yet if their concerns grow that inflation will stay high or worsen as tariffs ripple across global supply chains, theywillleanmoretowards keeping borrowing costs high to cool the economy and lower prices. The rate currentlystandsat4.3%.
Wall Street investors are pretty certain — for now — that the central bank will reduce rates in September, with futures prices putting the odds of a cut at 93%, according to CME Fedwatch.
Those odds jumped after the monthly jobs report Aug. 1 showed that hiring was sluggish in July and was much lower than previously estimated in May andJune.Averagejobgains overthosethreemonthsfell to just 35,000, down from 123,000ayearago.
And Tuesday's inflation report, which showed only a mild pickup in inflation at the consumer level and limited signs that tariffs were pushing goods prices higher, underscored the view of some officials that they could put inflation concernsasideandfocuson shoring up the job market instead.
"With underlying inflation on a sustained trajectory toward 2%, softness in aggregate demand, and signs of fragility in the labor market, I think that we should focus on risks to our employment mandate," Michelle Bowman, a member of the Fed's governing board, said last week.
Yet Austan Goolsbee, president of the Federal Reserve's Chicago branch, downplayed the weakness in hiring in remarks to reporters Wednesday. The slowdown in job gains couldpartlyreflectthedrop in immigration stemming from President Donald Trump's border crackdown, Goolsbee said, rather than a weaker economy. He also pointed to the still-low unemploymentrateof4.2% as evidence that the job marketissolid.
This week's inflation report included some
warning signs, Goolsbee added: Prices of many services that aren't affected by tariffs, such as dental care andairfares,jumped,asign that inflation may not be in check.
"That was the most concerning thing in the inflation report, and if that persisted, we would have a hard time getting back to 2%," Goolsbee said, referring to the central bank's inflation goal. "I am still hopeful that will not be a lastingproblem."
Fedofficialsalsodisagree on how tariffs will affect inflation going forward. Many increasingly believe the duties will result in simply a one-time boost to prices that will quickly fade and not lead to ongoing inflation.
"Tariffs will boost inflation in the near term, but likely not in a persistent way"thatwouldrequirethe Fed to keep rates elevated, Mary Daly, president of the Fed'sSanFranciscobranch, saidinarecentspeech.
Daly also said the labor market has "softened" and suggested the Fed "will likely need to adjust policy inthecomingmonths."
However, Raphael Bostic, president of the Fed's Atlanta branch, said Wednesday that the tariffs could lead to longer-term inflation if they cause more manufacturers to shift output from lower-cost locations overseas back to the United States, or to other countries with higher wages.Suchachangewould be more than just a onetimeshift.
"You're going to see fundamentalstructuralchanges if this is successful," Bostic said in remarks in Red Bay, Alabama. "It is actually a differenteconomy."
In that scenario, Bostic said, he would prefer to wait "until we have a little more clarity." And he added that with unemployment low, "we have the luxurytodothat."
Thursday's July wholesale price report, which showed a sharp jump in goods and services prices before they reach the consumer, did make one move less likely: A half-point cut in September, as suggested by Treasury Secretary Scott Bessent.
Alberto Musalem, president of the Fed's St. Louis branch, who votes on Fed policy this year, said that a reduction of that size is "unsupported by the current state of the economy, and the outlook for the economy," in an interview onCNBC.
Tim Duy, an economist at SGH Macro, said Thursday that the Fed may have toraiseitsinflationforecast at its September meeting when it provides its latest set of quarterly economic projections. The central bank's policymakers currently expect inflation, excluding volatile food and energy, to reach 3.1% by the end of this year, yet inflationisalreadynearthat level. Cutting rates at the September meeting would be hard for the Fed if it is also forecasting higher inflation, Duysaid.
"There are things that could happen that would push the Fed off the path" toward a rate cut, he said. "We'renotpayingadequate attentiontothoserisks."
AVERAGE RATE ON A 30-YEAR MORTGAGE DROPS TO LOWEST LEVEL SINCE OCTOBER
By ALEX VEIGA AP Business Writer
THE average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly 10 months, giving prospective homebuyers a sorely needed boost in purchasing power that could help inject life into a stagnanthousingmarket.
The long-term rate fell to 6.58% from 6.63% last week, mortgage buyer FreddieMacsaidThursday. A year ago, the rate averaged6.49%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
The average rate dropped to 5.71% from 5.75% last week. A year ago, it was 5.66%,FreddieMacsaid.
Elevated mortgage rates have helped keep the U.S. housing market in a sales slump since early 2022, when rates started to climb from the rock-bottom lows they reached during the pandemic.Homesalessank last year to their lowest levelinnearly30years.
Thisisthefourthweekin a row that rates have come down. The latest average rate on a 30-year mortgage is now at its lowest level since Oct. 24, when it averaged6.54%. Mortgage rates are influenced by several factors, from the Federal Reserve's interest rate policy decisions to bond market investors' expectations for theeconomyandinflation.
The main barometer is the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The yield was at 4.29% at midday Thursday, up slightly from 4.24% late Wednesday.
Theyieldhascomedown the last couple of weeks after weaker-than-expected July U.S. job market data fueled speculation that the Fed will cut its main shortterm interest rate next month.
AFedratecutcouldgive the job market and overall economy a boost, but it couldalsofuelinflationjust as President Trump's tariff policies risk raising prices forU.S.consumers.
Meanwhile, a new inflation report Thursday showed prices at the U.S. wholesale level jumped 3.3% last month from a yearearlier.That'swaswell above the 2.5% rate that economists had forecast, and it could hint at higher inflationahead.
PORTLAND, Ore.
Associated Press
NIKE co-founder Phil Knight and his wife Penny Knight have pledged to donate $2 billion to Oregon Health & Science University's Knight Cancer Institute, the school announced Thursday, describing it as the largest single gift to a U.S. university.
"This gift is an unprecedented investment in the millions of lives burdened with cancer, especially patients and families here in Oregon," OHSU President Shereef Elnahal said inastatement.
The donation will help ensure patients have access tovariousresources,including psychological, genetic and financial counseling, symptom management, nutritional support and survivorship care, the universitystatementsaid.
"We couldn't be more excited about the transformational potential of this work for humanity," the Knights said in the statement.
The university described it as the "largest single donation ever made to a U.S. university, college or academic health center."
It surpasses the $1.8 billion given by Michael
Earlier this week, the Labor Department said consumer prices rose 2.7% in July from a year earlier, unchangedfromJune.
Higher inflation could push bond yields higher, driving mortgage rates upward in turn, even if the Fedcutsitskeyrate.
Economists generally expecttheaveragerateona 30-yearmortgagetoremain above 6% this year. Recent forecasts by Realtor.com andFannieMaeprojectthe average rate will ease to around 6.4% by the end of thisyear.
That may not be low enough to make a difference. While trends like declining home listing prices and more properties on the market in the Sunbelt and West now favor buyers, affordability remains a major hurdle for manyaspiringhomeowners.
Home price growth has slowed nationally, but the mediansalespriceofapreviouslyoccupiedU.S.home still climbed to an all-time highof$435,300inJune.
"Homebuyers who have been relegated to the sidelinesbyhighfinancingcosts got some encouragement in the past two weeks, but it remains to be seen if it's enoughtogetmoreofthem backinthegame,"saidJoel Berner, senior economist at Realtor.com.
The recent drop in mortgage rates has spurred many homeowners to refinance,however.
Mortgage applications jumped 10.9% last week from the previous week as rates eased, boosted by homeowners seeking to refinance, according to the Mortgage Bankers Association.
Home loan refinance applications made up nearly 47% of all mortgage applications. Refi loan applications jumped 23% from a week earlier -- the strongest showing since April.
Meanwhile, applications for adjustable-rate mortgages, or ARMs, soared 25% to their highest level since2022,MBAsaid.
Many homeowners aren't waiting for rates to ease further before refinancing. Cash-out home refinancing activity surged to a nearly three-year high in the April-June quarter, as homeowners tapped some of the equity gains built up after years of soaringhomeprices.
Bloomberg to Johns Hopkins in 2018, described by that university at the time as the largest single contributiontoaU.S.university.
Bloomberg also donated an additional $1 billion to Johns Hopkins last year, covering tuition, living expenses and fees for students from families under certainincomelevels.
The magnitude of the donation will allow the Knight Cancer Institute to become a self-governed entitywithitsownboardof directorswithinOHSU,the universitysaid.
Knight is Oregon's richestman.In2013,heandhis wife pledged $500 million tothecancerinstituteifthe universitymatcheditwithin two years. The match was met following $200 million in bonds from the Oregon Legislature, $100 million from then-chair of Columbia Sportswear Gert Boyle and donations from some 10,000 people, the universitysaid.
Universities across the country are struggling with moves from President Donald Trump's administration to cancel or freeze research grants at universities.
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Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady
By STAN CHOE AP Business Writer
MOST stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companieshelpedmaskthelosses.
Seven out of every 10 stocks within the S&P 500 fell,thoughtheindexedged up by less than 0.1% to set another all-time high. The Dow Jones Industrial Averagedipped11points,orless than 0.1%, and the Nasdaq composite dipped by less than 0.1% from its record setthedaybefore.
The inflation report said that prices jumped 3.3% last month at the U.S. wholesale level from a year earlier. That was well above the 2.5% rate that economists had forecast, and it could hint at higher inflation ahead for U.S. shoppersasitmakesitsway throughthesystem.
The data forced traders to second guess their widespread consensus that the Federal Reserve
will cut interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also riskworseninginflation.
"This doesn't slam the door on a September rate cut," but it may raise some doubt, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.
Traders now see a 7.4% chance that the Fed may hold rates steady in September, according to data from CME Group. A day earlier,theywerebettingon a 100% certainty that the Fed would cut its main rate forthefirsttimethisyear.
Higher interest rates drag on all kinds of companies by keeping the cost to borrow high. They can hurt smaller companies in particular because they often need to borrow to grow.
The Russell 2000 index of smallerU.S.stockstumbled amarket-leading1.2%.
Thursday's disappointing data followed an
encouraging update earlier in the week on prices at the consumer level. A separate report on Thursday, meanwhile, said fewer U.S. workers applied for unemployment benefits last week.That'sagoodsignfor workers,indicatingthatlayoffsremainrelativelylowat a time when job openings have become more difficult tofind.
But a solid job market could also give the Fed less
reason to cut interest rates intheshortterm.
The data helped send Treasury yields higher in the bond market. The yield on the 10-year Treasury climbed to 4.28% from 4.20% just before the data reports' release and from 4.24%lateWednesday.
On Wall Street, Tapestry tumbled after the company behind the Coach and Kate Spade New York brands
showedit'sfeelingthepressureoftariffs. It detailed how much profit it could lose in its upcoming fiscal year because of tariffs and duties, and its forecast for profit fell short of analysts' expectations even though its forecast for revenue came in above. Its stock fell 15.7%, despite it also reporting a stronger profit for the latest quarter than analystsexpected.
Deere fell 6.8% even though the machinery maker likewise delivered a better profit than expected. There, too, the focus was on where profits are heading. It cut the top end of its forecasted range for profit this fiscal year and said its customers"remaincautious amidongoinguncertainty."
On the winning side of Wall Street was Fossil Group, which jumped 29.8% after the seller of watches and other accessories reported better profit than expected. It also announced a plan to strengthen its finances, while trimming its forecast for how much it expects worldwide net sales to fall thisyear.
Big Tech stocks also helped mask Wall Street's losses. Amazon rose 2.9% to add to its gains from the prior day when it announced same-day delivery of fresh groceries in more than 1,000 cities and towns.
TRADER Ryan Falvey works on the floor of the New York Stock Exchange, Thursday, Aug. 14, 2025.
