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Wall Street Pauses as Oil Surges and Tesla Stumbles

  U.S. stocks stalled on Thursday as investors weighed a sharp rise in oil prices against a wave of fresh corporate earnings. Futures tied to the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while the Nasdaq 100 also showed little movement. Energy markets took center stage after oil futures jumped more than 5% following new U.S. sanctions on Russian producers, pushing Brent crude toward $66 a barrel and West Texas Intermediate closer to $62. The surge added pressure to inflation concerns already weighing on Wall Street. On the corporate front, Tesla shares slipped over 3% in premarket trading after the electric vehicle maker posted mixed third-quarter results, disappointing investors and kicking off the “Magnificent Seven” earnings cycle. IBM stock also dropped about 7% , as stronger-than-expected profits were overshadowed by weaker software revenue. Traders are now awaiting results from American Airlines and T-Mobile , with Intel set to ...
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Canada Loses Appeal of FIFA Penalty in Olympic Drone Spying Scandal

 


In a significant setback for Canadian soccer, the Court of Arbitration for Sport (CAS) has dismissed Canada’s appeal against a six-point deduction imposed by FIFA. This penalty stems from a drone-spying scandal during the Olympic women’s soccer tournament in Paris 2024.

The controversy began when New Zealand lodged a complaint, alleging that Canadian staff used drones to spy on their training sessions before their opening match. Following an investigation, FIFA docked Canada six points and imposed one-year bans on head coach Bev Priestman and officials Joseph Lombardi and Jasmine Mander.

Despite winning both of their games, the point deduction leaves Canada with zero points in the standings. The CAS ruling, delivered just hours before Canada’s crucial match against Colombia, means the team faces an uphill battle to advance to the quarterfinals.

The Canadian Olympic Committee and Canada Soccer argued that the penalty was disproportionate and unfairly punished the athletes, who were not involved in the alleged cheating. However, the CAS upheld FIFA’s decision, emphasizing the importance of maintaining the integrity of the sport.

This ruling has significant implications for Canada’s chances in the tournament and underscores the serious consequences of violating fair play principles in international sports.


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