Category: News
As K-Shaped Consumer Breakdown Widens, Bessent Points To Brighter 2026
As K-Shaped Consumer Breakdown Widens, Bessent Points To Brighter 2026
At the start of the week, commenting on Black Friday sales figures, Goldman analyst Natasha de la Grense said there has been increased focus on the “K-shaped” economy. As outlined in our previous notes (here and here), this widening behavioral gap is becoming more pronounced among working-poor and high-income households.
New data from Goldman analyst Ronnie Walker highlights the widening divide among consumers. He noted that lower-income households are weakening noticeably beneath the surface of otherwise solid aggregate retail trends.
Walker pointed out that while overall sales growth and earnings-call sentiment look solid, retailers serving lower-income zip codes report negative consumer sentiment and barely any nominal same-store-sales growth (0.2% vs. 2.5% for middle- and higher-income areas).
He said this gap reflects constrained borrowing capacity, softer income gains, and reduced immigration flows, adding that 2026 forecasts only suggest continued underperformance in low-end spending as slow job growth and cuts to SNAP and Medicaid under the OBBBA further pressure lower-income households.
Walker explains more in the note:
A Bifurcated Consumer Outlook
Company commentary and results suggest that the consumer remained healthy in the third quarter. Sales growth among consumer-facing companies improved — sales growth increased by 2pp to +6% year-over-year for the median S&P 500 consumer discretionary company and by 1pp to +1% for the median consumer staples company — while our quantitative measure of sentiment around the consumer on earnings calls declined sequentially but remained around its historical average.
Investors have raised fresh concerns about the health of the lower-income consumer this earnings season. Leveraging our Data Works team’s estimates of the median household income of each retailer’s store locations, we find that the healthy aggregate trends mask divergences between companies that face lower- and higher-income consumers. The left panel of Exhibit 3 shows that sentiment around the consumer on earnings calls turned negative on net for retailers whose stores are generally located in lower-income zip codes (diffusion index of 45 in 2025Q3 vs. 67 for companies in middle-to-higher income zip codes). Additionally, the right panel of Exhibit 3 shows that nominal same-store sales for that same group of companies have grown only 0.2% on average over the last year (vs. 2.5% for companies exposed to middle- and higher-income zip codes).
Weaker sales growth among companies with greater exposure to lower-income consumers has likely reflected a combination of headwinds to lower-income consumers — that we noted last year include more limited borrowing capacity and underperforming income growth — and the slowdown in immigration. Looking ahead, we continue to expect weak income growth to weigh on low-income spending. Exhibit 4 shows our distributional income growth forecasts: while we expect positive real income growth for all income cohorts in 2026, we again expect underperformance for the bottom income quintile, reflecting tepid job growth and cuts to Medicaid and SNAP benefits.
Despite Walker’s gloomy view, this is quite the opposite forecast from Treasury Secretary Scott Bessent.
.@SecScottBessent: “In 2026, we are going to see very substantial tax refunds in the First Quarter… We’re going to see real wage increases. I think next year is going to be a fantastic year.” pic.twitter.com/3XTBD8wK7q
— Rapid Response 47 (@RapidResponse47) December 2, 2025
“In 2026, we are going to see very substantial tax refunds in the first quarter… We’re going to see real wage increases. I think next year is going to be a fantastic year,” Bessent told President Trump during the cabinet meeting earlier today.
Tyler Durden
Wed, 12/03/2025 – 07:45
Un niño de 1 año, entre los 159 muertos en incendio en Hong Kong; 30 personas siguen desaparecidas
Associated Press
HONG KONG (AP) — El número de fallecidos en el incendio de un edificio de gran altura en Hong Kong aumentó a 159 el miércoles, mientras las autoridades arrestaron a seis personas sospechosas de desactivar algunas de las alarmas contra incendios durante los trabajos de mantenimiento en el complejo residencial.
La víctima más joven de la tragedia fue un bebé de un año, según la policía. La de más edad tenía 97 años.
La policía indicó que la búsqueda de cuerpos dentro de las siete de las ocho torres residenciales de gran altura devastadas por el incendio había terminado. El fuego comenzó el miércoles y que no se extinguió hasta el viernes. Alrededor de 30 personas seguían desaparecidas.
“Aún no hemos terminado nuestro trabajo”, dijo el comisario de policía Joe Chow a reporteros, añadiendo que se buscará entre los montones de andamios de bambú caídos para comprobar si hay restos o cuerpos enterrados allí.
El letal incendio se registró en Wang Fuk Court, en el norteño distrito suburbano de Tai Po, donde se llevaba a cabo un proyecto de renovación de varios meses que había cubierto los edificios con andamios de bambú y redes verdes.
La policía y la agencia anticorrupción de la ciudad anunciaron el martes la detención de 15 personas mientras las autoridades investigan la posible corrupción y negligencia en relación con las obras de renovación. Las autoridades reportaron a principios de semana que las redes de baja calidad que cubrían los andamios erigidos en el exterior de las torres y las placas de espuma instaladas en las ventanas contribuyeron a la rápida propagación de las llamas.
La policía dijo el miércoles que seis personas que podrían haber desactivado algunas alarmas antiincendios en el complejo residencial durante las obras fueron arrestadas bajo la sospecha de haber realizado una declaración falsa al departamento de bomberos.
Residentes y autoridades señalaron que algunas de las alarmas de los edificios no sonaron cuando se desató el incendio, aunque no estaba claro aún cuál fue el alcance de ese problema dentro del complejo.
La causa inicial del incendio aún está siendo investigada.
Diecinueve de los 159 cadáveres seguían sin identificar, apuntó la policía. Entre los fallecidos había 10 migrantes que trabajaban como empleadas domésticas en el complejo —nueve de Indonesia y una de Filipinas—, así como un bombero.
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Esta historia fue traducida del inglés por un editor de AP con la ayuda de una herramienta de inteligencia artificial generativa.
Macy’s posts surprise profit with overhaul under new CEO resonating with shoppers
NEW YORK — Macy’s posted a surprise third-quarter profit and its strongest comparable sales in more than three years as an extensive overhaul of the 167-year-old New York department store begins to resonate with shoppers.
After posting its back-to-back quarterly jumps in comparable sales Wednesday, Macy’s raised its financial guidance for the year.
Comparable sales, a good barometer of a retailer’s health, have been an ominous sign at Macy’s for several years now, serving each quarter as a reminder that the storied department store chain had a long way to go.
On Wednesday, however, Macy’s posted a solid 3.2% increase for the quarter ended Nov. 1, following a 1.9% increase during the second quarter. The figure includes licensed businesses like cosmetics.
“As we enter the holiday season, we are well-positioned with compelling new merchandise and an omni-channel customer experience that delivers both inspiration and value,” Chairman and CEO Tony Spring said in a statement. “With a strategy rooted in hospitality, our teams are focused on driving long-term, profitable growth.”
Macy’s strong performance is notable because all retailers are navigating a challenging environment with consumers pulling back as prices rise amid a U.S. initiated trade war. Yet, shoppers have remained resilient and delivered a strong start to the holiday shopping season that kicked off over the Thanksgiving weekend.
Under Spring, who took over the top job almost two years ago, Macy’s has closed unprofitable stores while investing heavily in modernizing its namesake brand. The company, which also operates its upscale Bloomingdale’s and Bluemercury chain of cosmetics, has beefed up customer service in the fitting areas as well as the shoe department. It’s also been trying to differentiate its luxury business from its rivals by adding exclusive merchandise.
Those changes appear to be paying off.
Macy’s reported net income of $11 million, or 4 cents per share, for the quarter. Adjusted earnings per share was 9 cents, catching industry analysts who had expected a loss of 13 cents off guard.
The company last year earned $28 million or 10 cents per shared.
Net sales fell slightly to $4.71 billion, from $4.73 billion, reflecting the closure of poorly performing stores. But that still outperformed projections of $4.55 billion from analysts.
The stores it’s overhauled, 125 of them, booked comparable sales growth of 2.7% growth, outperforming the pace when all stores are included.
Macy’s now expects annual earnings per share of between $2 and $2.20, well above its previous guidance of $1.70 to $2.05 per share. It also projected annual 2025 sales in the range of $21.47 billion to $21.62 billion, up from its previous guidance of $21.15 billion to $21.45 billion.
Wall Street had been projecting earnings of$2 per share on sales of $21.3 billion, according to FactSet.
https://www.chicagotribune.com/2025/12/03/macys-third-quarter-profit/
La exjefa de política exterior de UE Federica Mogherini es acusada de corrupción en caso de fraude
Associated Press
LUXEMBURGO (AP) — La exjefa de política exterior de la Unión Europea enfrenta acusaciones de corrupción junto a otras dos personas arrestadas esta semana como parte de una investigación por fraude, informó la Fiscalía Europea el miércoles.
Las autoridades en Bélgica realizaron los arrestos el martes tras allanar las oficinas del servicio diplomático de la UE en Bruselas y un colegio en Brujas. Federica Mogherini dirigió el servicio exterior de la UE de 2014 a 2019 y ahora se desempeña como rectora del Colegio de Europa.
La fiscalía dijo en un comunicado que Mogherini y un miembro destacado del personal del Colegio de Europa fueron detenidos a instancias de la institución, así como un alto funcionario de la Comisión Europea.
“La Policía Judicial Federal de Bélgica interrogó a los tres individuos, quienes fueron formalmente notificados de las acusaciones en su contra”, señaló la fiscalía. “Las acusaciones se refieren a fraude en la contratación y corrupción, conflicto de intereses y violación del secreto profesional. Fueron liberados, ya que no se consideran un riesgo de fuga”.
La policía registró las propiedades de los sospechosos, varios edificios del Colegio de Europa y la sede del Servicio Europeo de Acción Exterior, que se encuentra en el complejo de instituciones del bloque de 27 naciones en Bruselas, informó la fiscalía.
La Fiscalía Europea, una organización pública independiente de la UE, dijo que tenía “fuertes sospechas” de fraude en la adjudicación de una licitación para llevar a cabo un programa de formación de 2021 a 2022 en la Academia Diplomática de la UE para diplomáticos jóvenes. El exvicepresidente de la Comisión Europea Josep Borrell dirigió el SEAE.
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Esta historia fue traducida del inglés por un editor de AP con la ayuda de una herramienta de inteligencia artificial generativa.
Explosion Rocks Part Of Russia’s Strategic Druzhba Pipeline – All Caught On Camera
Explosion Rocks Part Of Russia’s Strategic Druzhba Pipeline – All Caught On Camera
While Donald Trump’s special envoy, Steve Witkoff, and his son-in-law, Jared Kushner, are in Moscow working to negotiate an end to the war in Ukraine, a series of attacks on Russia-linked oil tankers unfolded both before and during their visit. Now, reports are also emerging of an explosion along the Druzhba oil pipeline.
On Wednesday morning, Kyiv Post cited sources in Ukraine’s Military Intelligence (HUR) that reported an explosion struck the Druzhba (“Friendship”) oil pipeline – one of Europe’s most important energy arteries, which moves roughly 1.2 to 1.5 million barrels per day from Russia through Belarus and Ukraine into Central Europe.
Kyiv Post said an incendiary explosive device detonated on the pipeline near Kazynskiye Vyselki along the Taganrog-Lipetsk segment. The outlet cited residents who heard the powerful blast.
Per the outlet:
The source said the strike took place near Kazynskiye Vyselki, along the Taganrog-Lipetsk section of the pipeline. A HUR official familiar with the operation said the blast was triggered by a remotely detonated explosive fitted with incendiary compounds to intensify the fire.
Footage of the incident has emerged on X…
🔥 Russia’s Druzhba oil pipeline struck again. A massive explosion and intense blaze erupted on Dec 1 near Kizinskie Vysilki, along the Taganrog-Lipetsk section. This vital artery pumps Russian oil to Europe. pic.twitter.com/hIrcpT0SHd
— Kyrylo Shevchenko (@KShevchenkoReal) December 3, 2025
The pipeline attack is part of Kyiv’s broader campaign against Russian oil infrastructure, including four Russia-linked tanker attacks in just one week and additional strikes on land-based crude-processing facilities in recent months:
Moscow Paper Claims Ukrainian Drones Hit Russia-Linked Oil Tanker Off West Africa
Ukraine Releases Footage Of Kamikaze Drone Boats Striking Russian Shadow-Fleet Tankers
Another Russian Shadow-Fleet Tanker Hit By Drones
Ukraine’s attacks on Russian oil and gas infrastructure jumped to a record in October.
As we noted earlier in the Witkoff–Kushner–Putin talks in Moscow, the Russian president called the attacks on Russian energy exports acts of “piracy.”
Tyler Durden
Wed, 12/03/2025 – 07:20
La UE actualiza sus directrices de asilo para sirios un año después de la caída de Assad
Por RENATA BRITO
BARCELONA (AP) — La Unión Europea emitió el miércoles una guía actualizada para las solicitudes de asilo de ciudadanos sirios que refleja las nuevas condiciones en Siria un año después de la caída de Bashar Assad. Los cambios pueden influir en el resultado de las solicitudes de asilo de unos 110.000 sirios que aún esperaban una decisión de asilo a finales de septiembre.
La Agencia de Asilo de la Unión Europea afirmó que los opositores de Assad y los evasores del servicio militar “ya no están en riesgo de persecución”.
Sin embargo, la agencia señaló que otros grupos pueden considerarse en riesgo en la Siria posAssad, incluyendo personas afiliadas al antiguo gobierno y miembros de los grupos étnico-religiosos alauíes, cristianos y drusos.
Aunque las decisiones sobre las solicitudes de asilo se toman a nivel nacional, la guía de la agencia se utiliza para informar a los 27 estados miembros de la UE, así como a Noruega y Suiza. El objetivo es crear una mayor coherencia entre las 29 naciones que otorgan protección internacional.
El número de sirios que solicitaron asilo disminuyó de forma significativa, de 16.000 en octubre de 2024, antes de la caída de Assad, a 3.500 en septiembre de 2025. Aun así, los sirios tenían el mayor número de casos pendientes de decisión en primera instancia.
El conflicto en Siria que comenzó en marzo de 2011 mató a casi medio millón de personas y desplazó a la mitad de la población del país antes de la guerra, que era de 23 millones. Más de cinco millones de sirios huyeron del país como refugiados. Aunque la mayoría buscó cobijo en países vecinos como Turquía, muchos también se dirigieron a Europa, contribuyendo a la crisis de refugiados en el continente en 2015.
La agencia de asilo dijo que la situación en Siria se “considera mejorada pero volátil” desde la caída de Assad en diciembre de 2024, y que “la violencia indiscriminada continúa ocurriendo” en ciertas partes de Siria.
Muchos sirios tenían grandes esperanzas después de que Assad fuera derrocado en una ofensiva por grupos insurgentes a principios de diciembre. Sin embargo, los asesinatos religiosos contra miembros de la minoría alauí de Assad en la región costera de Siria y contra la minoría drusa en la provincia sureña de Sweida a principios de este año han cobrado cientos de vidas.
Aun así, la agencia dijo que ahora considera que Damasco, la capital, es segura.
La agencia también citó a otros dos grupos que viven en Siria que deberían seguir siendo elegibles para el estatus de refugiado: las personas LGBTQ+ y los palestinos en Siria que ya no reciben asistencia o protección de Naciones Unidas.
Desde la caída de Assad en diciembre, más de un millón de personas han regresado a Siria y casi dos millones de personas se han trasladado dentro del país para regresar a sus regiones de origen, según el Alto Comisionado de las Naciones Unidas para los Refugiados.
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Esta historia fue traducida del inglés por un editor de AP con la ayuda de una herramienta de inteligencia artificial generativa.
Are the 9-3 Chicago Bears the best team in the NFC? 5 pressing questions after Week 13.
The Chicago Bears lead the NFC behind their fearless — or rather shirtless — leader, Ben Johnson.
A month ago, the question seemed to be: Are the Bears for real? Now the talk is about the playoffs and where they stand in the conference pecking order. A lot of football is left, but the Bears have positioned themselves well heading into the home stretch.
The Tribune’s Brad Biggs, Sean Hammond and Phil Thompson tackle this week’s pressing questions as the calendar turns from November to December and the stakes get higher.
1. At 9-3, the Bears currently hold the No. 1 seed in the NFC, but a lot can change in five weeks. In your eyes, who is the best team in the NFC?
Biggs: What the Bears have done is impressive, and they appear to be gaining momentum as they continue to show improvement. I’ll pick the Rams, though, even though they laid an egg Sunday at Carolina. They have a quarterback with Super Bowl pedigree in Matthew Stafford and have beaten the Texans, Colts, Ravens, Jaguars, 49ers, Seahawks and Buccaneers. That’s a pretty good list of legitimate teams, and the Rams are well-constructed. It would be an interesting playoff matchup, the kind where home-field advantage could be a big deal.
Hammond: This is a crazy difficult question to answer right now. The Bears and Rams are the top teams as it stands, but the Packers or Seahawks just as easily could win those divisions. If I had to pick a team to win the NFC right now, I’d go with the quarterback playing at the highest level, with bonus points for a QB who has proved he can do it in the postseason. That leads me back to Stafford and the Rams.
Thompson: I still say it’s the Rams, who have the NFC’s best strength of victory (.523). Consider it the definitive “Who have you beat?” stat. The Rams edge the Eagles (.515) in that category, one of the conference tiebreakers, while the Bears check in at .344. One hiccup against the Panthers doesn’t erase the narrative. The Rams remain No. 2 in the league in average point differential (10.3), and Stafford tops the leaderboard in touchdown passes (32) while ranking second in passer rating (111.8) to the Patriots’ Drake Maye (111.9).
2. The Bears and Packers square off twice in three weeks. Which team is likelier to win the NFC North?
Biggs: Boy, that’s a tough one. The Packers have been hit by some key injuries, the most recent to defensive tackle Devonte Wyatt, but they’ve started to click again on offense the last three weeks, something that took some time after tight end Tucker Kraft was lost for the season. The Bears have a half-game lead, so I will pick them. Green Bay has a tough one next week with a trip to Denver.
Hammond: If we’re going by recent history, of course the answer is Green Bay. But this Bears team is bucking all recent trends. Both teams have similarly tough remaining schedules. I think they will split their upcoming matchups. The Bears are on a roll and their running game will serve them well in December weather conditions. I’m taking the Bears.
Thompson: You hate to say it, but the Packers. They don’t have many obvious weaknesses, except you don’t know which version of quarterback Jordan Love you’ll get from week to week. However, “likelier” to win the North doesn’t mean it’s a fait accompli. The Bears have earned the benefit of the doubt that they can change their woeful track record against the Packers, who also have a tough stretch with matchups against the Broncos and Ravens on the schedule.
3. True or false: The Bears have the best offensive line in the NFL.
Bears offensive line coach Dan Roushar talks to players on the bench in the first quarter against the Vikings on Nov. 16, 2025, at U.S. Bank Stadium in Minneapolis. (Chris Sweda/Chicago Tribune)
Biggs: They’re in the running. I hate to cop out, but it’s impossible to make a definitive statement when you’re focused 90% of the time watching only one team. That the Bears are even in the conversation is one of the reasons for the team’s success. GM Ryan Poles, Ben Johnson and line coach Dan Roushar, among others, deserve credit for turning what had been a long-standing weakness into a strength.
Hammond: True. Who is better? The list of teams in contention is short. The Bills? Broncos? Colts? Rams? It has been impressive to watch this group come together over the past few months. The early results in the first month of the season were so-so. Since the bye week, the Bears have been elite. The combination of this line with Johnson scheming things up appears to be on par with the best of the best.
Thompson: False. It’s a hard call, especially since the Bears manhandled the Eagles defense, but you don’t want to fall into recency bias. According to Next Gen Stats, the Broncos have the lowest sack percentage (3.1%) and second-lowest quarterback pressure rate (26.6%). But according to ESPN’s analytics as of Tuesday, the Bears rank second in pass block win rate and fourth in run block win rate, while the Broncos rank fourth and seventh, respectively. The Bills, meanwhile, rank first and second, respectively, in pass block and run block win rate, albeit by fractions over the Bears, and they have the fifth-lowest run-stuff rate (13.3%) and QB pressure rate (28.6%). The fact they held the Steelers to no sacks and one QB hit despite missing both starting tackles is a testament to their unit. But the Bears are very close.
4. Fill in the blank: Nahshon Wright’s 2025 season has been _________?
Bears cornerback Nahshon Wright celebrates after he recovered a fumble during the third quarter against the Giants on Nov. 9, 2025, at Soldier Field. (Eileen T. Meslar/Chicago Tribune)
Biggs: A tremendous story. Secondary coach Al Harris worked with Wright previously in Dallas, but not even he could have predicted the volume of big plays the rangy cornerback has turned in. On a $1.1 million minimum contract, Wright has set himself up for a deserved payday in free agency. Whether it’s with the Bears remains to be seen.
Hammond: Unforeseen. This guy was a footnote in free agency. The production the Bears have gotten out of him has been nothing short of spectacular. His five interceptions are tied for second in the NFL, and his three fumble recoveries are the most among defenders. His strip on Jalen Hurts’ Tush Push was one of the more heads-up plays you’ll see. Wright is proving he can be a difference-maker in the league.
Thompson: Life-changing. Heading into Week 14, he ranks first in fumble recoveries (3), tied for second in interceptions (5) and tied for 13th in passes defended (10) with the Broncos’ Patrick Surtain II. Wright will be an unrestricted free agent this offseason at 27, and he’s set up to make a lot more than his current $1.1 million salary-cap number.
5. Caleb Williams completed less than 50% of his passes against the Eagles, and his season percentage is now 58.1%. How concerning are his accuracy issues?
Bears quarterback Caleb Williams passes against the Eagles in the second quarter Nov. 28, 2025, at Lincoln Financial Field in Philadelphia. (Brian Cassella/Chicago Tribune)
Biggs: It’s a real concern, and Johnson has been pretty direct in discussing it. The game in Philadelphia wasn’t an anomaly. Williams has been below 60% for five consecutive weeks. Some folks twist themselves in knots trying to explain it, but the reality is he needs to become more accurate. It will, no doubt, be a major point of emphasis in the offseason. Simply put, it’s unusual for elite quarterbacks to hover in the low 60s in completion percentage, and Williams would have to go on a heater even to get there before year’s end.
Hammond: Long term, connecting on some of the easy throws is something Williams needs to work on. In the short term, though, I don’t know if it’s a huge concern. Williams has topped 60% just four times this season, and the Bears are 1-3 in those four games. They’re 8-0 when he’s below 60%. The Bears are working around it. At this point, you’re working with the QB you have. He’s not going to change his game dramatically over the next five weeks. This is something they’ll have to discuss more in the offseason.
Thompson: Very concerning. In isolation, you could give him a little bit of a pass for his 47.2% completion percentage in his first time facing a Vic Fangio defense — and the random gusts at Lincoln Financial Field. But Williams has fallen below 60% in eight of his last nine starts and below 55% in each of his last three, and we’ve been shocked by some off-target throws. “Above and beyond” shouldn’t apply to your ball location. At some point all the work he’s putting into his mechanics has to show up on the field.
https://www.chicagotribune.com/2025/12/03/chicago-bears-pressing-questions-week-13/
Julian Sayin, Fernando Mendoza chase Big Ten title and Heisman Trophy when No. 1 Ohio St faces No. 2 Indiana
INDIANAPOLIS — Ohio State quarterback Julian Sayin and Indiana quarterback Fernando Mendoza each have one prize in mind for their showdown this weekend in Indianapolis: a Big Ten championship.
It’s another one — Heisman Trophy winner — that will consume most of next week’s debate.
The two first-year starters at their respective schools each played their way into frontrunner status by leading their teams to unbeaten regular seasons, posting outstanding numbers and delivering when the stakes have been highest. They get final chances to pad those Heisman resumes when No. 1 Ohio State and No. 2 Indiana square off in the Big Ten Championship Game.
Sayin and Mendoza appear tailor-made for the moment.
“With the spotlight, with the pressure of it, comes a privilege,” said Mendoza, a two-year starter at California before arriving in Bloomington.
Mendoza has been deferential to his teammates and coaches all season, routinely using his platform to build up those who helped him reach the precipice of becoming the first Indiana player to win college football’s most prestigious award.
Indiana quarterback Fernando Mendoza (15) runs toward the end zone to score while being pursued by Purdue linebacker Charles Correa (5) during the first half of an NCAA college football game, Friday, Nov. 28, 2025, in West Lafayette, Ind. (AP Photo/Doug McSchooler)
Sayin, meanwhile, has spent most of this season trying to get acclimated to being the starter for the defending national champs and more recently with a revolving door of receivers caused by injuries. He started his career at Alabama and redshirted last season in Columbus. He would be Ohio State’s first Heisman winner since Troy Smith in 2006.
Mendoza and Sayin find themselves as the feature attractions in a rare, late-season head-to-head matchup between the Football Bowl Subdivision’s last two unbeaten teams.
The tale of the tape is every bit as close as one might expect.
Sayin’ staggering 78.9% completion rate leads the nation, as does his passing efficiency of 184.85. His 30 touchdown passes rank second nationally. He’s 13th in passing yards with 3,065 and tied for 15th in points responsible for with 180.
Mendoza leads the FBS with 32 TD passes, ranks second in passing efficiency at 183.71 and points responsible for at 228, fifth in completion percentage (72.0%) and 27th in yards passing with 2,758.
Both are 12-0 overall, 9-0 in conference play and have five interceptions. The biggest difference statistically — Mendoza averages 13.07 yards per throw, No. 24 nationally, while Sayin ranks 62nd.
And while Sayin’s signature moment came last week when he snapped a four-game losing streak to the dreaded Wolverines, Mendoza delivered two of this season’s biggest plays — beating an Iowa blitz with a tiebreaking, 49-yard TD pass to Elijah Sarratt with 1;28 left in a 20-15 victory and the incredible 7-yard TD pass to Omar Cooper Jr. in the final minute to beat Penn State 27-24.
After throwing a tying Pick-6 late at then-No. 3 Oregon, Mendoza responded by taking the Hoosiers on a 75-yard scoring march and throwing the go-ahead TD pass to Sarratt for a 30-20 victory that cemented Indiana’s spot in the national championship conversation.
“The Oregon game, I think, gave us a lot of credibility,” second-year Hoosiers coach Curt Cignetti said. “That was a step we had to take as a program — go on the road, play a top-five team and come back with a win. Oregon’s a great team and Dan Lanning is a great football coach and so, I think, from that point on, there has been a little bit more acceptance of where we’re at as a program.”
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Mendoza has a chance to put an exclamation on Indiana’s second straight record-breaking season — if Indiana beats the Buckeyes for the first time since 1988, claims its first conference crown since 1967 and reaches No. 1 in The Associated Press poll for the first time in school history.
Sayin is trying to extend the nation’s longest active winning streak to 17 games, capture Ohio State’s first conference crown since 2020 and help the Buckeyes become back-to-back national champions for the first time in school history.
Cignetti knows just how challenging it will be to derail those plans.
“Julian Sayin is a tremendous football player. He’s young but doesn’t play like he’s young,” he said. “Super quick release, very accurate and he’s mobile. They’ve got great weapons on the outside.”
But as coaches and players stay focused on Saturday’s contest, the quarterbacks are downplaying the game inside the game — whether the winner has the inside track to winning the Heisman.
“A lot of quarterbacks have struggled with (Ohio State’s defense) throughout the entire season, and there’s a reason for that,” Mendoza said. “I think it’s a great opportunity and a great challenge for the Indiana offense to play the Indiana brand of ball we want to play against such a great defense.”
https://www.chicagotribune.com/2025/12/03/julian-sayin-ohio-state-fernando-mendoza-indiana/
College football signing day: Which recruits are headed to Notre Dame, Illinois and Northwestern?
College football’s early signing period is underway.
The vast majority of top high school recruits will be making their college choices official Wednesday through Friday, while the now-less-popular regular signing period maintains its traditional opening date of the first Wednesday in February (Feb. 4 in this cycle).
Here’s a look at the committed players for Notre Dame, Illinois and Northwestern entering Wednesday, according to 247Sports.com. Check back throughout the day to see who has signed — and who might have joined the list.
Class rankings are according to the 247Sports composite, which aggregates rankings from major recruiting websites.
Notre Dame
Lake Mary quarterback Noah Grubbs looks for an open receiver against Osceola on Aug. 29, 2025, in Kissimmee, Fla. (Willie J. Allen Jr./Orlando Sentinel)
Commitments: 27
Class ranking: No. 3 nationally
Khary Adams, CB, Towson, Md.
Jakobe Clapper, LB, Cincinnati
Thomas Davis Jr., LB, Matthews, N.C.
Rodney Dunham, Edge, Charlotte, N.C.
Ebenezer Ewetade, Edge, Garner, N.C.
Dylan Faison, WR, Boca Raton, Fla.
Kaydon Finley, WR, Aledo, Texas
Devin Fitzgerald, WR, Phoenix
Bubba Frazier, WR, Savannah, Ga.
Preston Fryzel, TE, Toledo, Ohio
Sullivan Garvin, OL, Allegan, Mich.
Elijah Golden, DL, Sarasota, Fla.
Noah Grubbs, QB, Lake Mary, Fla.
Tiki Hola, DL, Bastrop, Texas
Grayson McKeogh, OL, Wyndmoor, Pa.
Tyler Merrill, OL, Mechanicsburg, Pa.
Ben Nichols, OL, Davison, Mich.
Joey O’Brien, S, Wyndmoor, Pa.
Javian Osborne, RB, Forney, Texas
Gregory Patrick, OL, Portage, Mich.
Ayden Pouncey, S, Winter Park, Fla.
Ian Premer, TE, Great Bend, Kan.
Nick Reddish, S, Charlotte, N.C.
Brayden Robinson, WR, Red Oak, Texas
Chaston Smith, CB, Knoxville, Tenn.
Charlie Thom, OL, Avon, Conn.
Jonaz Walton, RB, Carrollton, Ga.
Illinois
Brother Rice’s King Liggins tackles St. Rita’s Brandon Johnson Jr. on Sept. 12, 2025, in Chicago. (Vincent D. Johnson/for the Daily Southtown)
Commitments: 27
Class ranking: No. 23 nationally, No. 7 in Big Ten
Jacob Alexander, Edge, Lincoln-Way East
Kenyon Alston, WR, Orlando, Fla.
Tony Balanganayi, OL, Palatine
Kayden Bennett, Edge, Suffield, Conn.
Michael Clayton, QB, Miami
Kaedyn Cobbs, LB, Denton, Texas
Parker Crim, Edge, Elida, Ohio
Jacob Eberhart, S, St. Louis
Davon Grant, WR, DeKalb
Jack Gray, P, Adelaide, Australia
Nick Hankins, CB, Belleville West
King Liggins, DL, Brother Rice
Jakwon Morris, CB, Northwest Mississippi CC
Kai Pritchard, OL, Toms River, N.J.
Nasir Rankin, WR, Morgan Park
Kingston Shaw, Edge, Orlando, Fla.
Jaylen Stewart, Edge, Pearland, Texas
TJ Taylor, OL, College of the Canyons (Calif.)
Casey Thomann, OL, Richland County
Almirian Thomas, CB, Cape Coral, Fla.
Cam Thomas, LB, West Chester, Ohio
Will Vala, TE, Downers Grove North
Landen Von Seggern, OL, Omaha, Neb.
Alfred Washington, OL, Northeast Mississippi CC
Nelsyn Wheeler, RB, Omaha, Neb.
Isaiah Williams, S, Missouri City, Texas
Tony Williams, LB, Jacksonville, Fla.
Northwestern
Barrington’s Owen Fors blocks Maine South’s Gavin Smith on Sept. 18, 2025, in Barrington. (H. Rick Bamman/for Pioneer Press)
Commits: 19
Class ranking: No. 56 nationally, No. 15 in Big Ten
Leighton Burbach, OL, Norfolk, Neb.
Nick Costa, DL, Richland, N.J.
Gabe Davis-Ray, S, Columbus, Ohio
Hayden Flavin, OL, Clarkston, Mich.
Owen Fors, OL, Barrington
Jack Fuchs, OL, Hendersonville, Tenn.
Owen Jakubczak, OL, Fremd
Amare Jordan, LB, Cedar Park, Texas
Calvin Lorek, DL, Loveland, Ohio
Jaden McDuffie, WR, Edgewater, Md.
Tom McGlinchey, TE, Philadelphia
Jacob Miller, TE/OL, Hamilton, Mo.
Max Mohring, LB, Malvern, Pa.
Sean Morris II, RB, Orange, Calif.
Johnny O’Brien, QB, Fremd
Keaton Reinke, WR, St. Charles North
Noah Sur, K, Fenwick
Jaden Vaughn, CB, Cypress, Texas
Nick Zalewski, Edge, Columbus, Ohio
https://www.chicagotribune.com/2025/12/03/college-football-signing-day-updates/
Europe’s Energy Transition Destroyed its Economy
Europe’s Energy Transition Destroyed its Economy
You can have cheap, dependable electricity to encourage economic growth and prosperity, or you can have a grid supported by wind and solar energy. Europe chose the latter.
So far, the promise of “abundant solar and wind energy” has only succeeded at one thing: slashing carbon emissions by 30% from 2005 levels. Thankfully, food for European families is paid for by reducing greenhouse gases, right? Unfortunately, the emission reduction is the only benefit to be had by Europe’s current plan of destroying dependable coal and nuclear plants in favor of building unpredictable and unreliable wind and solar energy infrastructure. Here is the WSJ with the damning facts:
“Germany now has the highest domestic electricity prices in the developed world, while the U.K. has the highest industrial electricity rates, according to a basket of 28 major economies analyzed by the International Energy Agency. Italy isn’t far behind. Average electricity prices for heavy industries in the European Union remain roughly twice those in the U.S. and 50% above China.”
Maybe burning all bridges – and blowing up subsea pipelines – to cheap Russian conventional energy was not the best idea.
In any case, absent huge changes, Europe has permanently excluded itself from the entire data center and AI industry boom. Why are all the data centers in the western world being built mostly in the US? Just look at the chart above. A massive cost to data center operators is the extremely electrical demand of their server racks and their cooling systems. They can pay over 25 c/kWh in some European countries, or they can come over here and pay as low as 8 c/kWh. The difference is an immediate deal breaker.
In some cases, it’s not even the prices turning off the data centers: European infrastructure industry just can’t handle it. “Jerome Evans, the CEO of a German data-center operator, sought to expand his two data centers in Frankfurt, Germany’s internet crossroads. The local power provider told him he would have to wait a decade, until 2035, for the energy to power them.”
The examples showcasing the results of Europe’s energy infrastructure choices are endless:
“‘We are hemorrhaging industry,’ said Dieter Helm, an economic professor at Oxford University who has advised U.K. governments on energy policy. British chemical company Ineos said in October it would close two plants in western Germany because of high energy costs. In recent days, Exxon-Mobil said it would close its chemical plant in Scotland and threatened to exit Europe’s chemicals industry, saying green policies made it uncompetitive.”
Meanwhile, the unpredictability of solar and wind is hurting everything everywhere. The costs of construction and operation are obscured by carbon taxes and government subsidies, and power finds its way to the grid on cloudy or windless days anyways, so what’s the issue? Those powerless days where panels and mills are sitting idle require power to be purchased, at a premium, from nearby countries. When this occurs for weeks at a time, prices can skyrocket for everyone.
As highlighted earlier, the problems are also only just starting, and the question of what to do with the impending wave of “renewable waste” will demand an answer.
Europe pursued the grand energy transition using the “or” strategy, in contrast to the “and” strategy used by the US. Europe has decided to shutdown all of its coal, gas, and nuclear plants while trying to at the same time build as much wind and solar as possible to replace the destroyed capacity. Compare this to countries like the US that instead decided to build more of everything at the same time, and the results become alarmingly clear.
The US took its buildout of nuclear energy a step further with the announcement of nearly a billion dollars for deploying new advanced reactor technology. $400 million will be provided to the Tennessee Valley Authority for developing the BWRX-309 reactor, a joint venture reactor design between GE Vernova and Hitachi. Their reactor is already under construction in Canada at the Darlington site, while the permit to start construction of the second iteration is under review by the NRC.
Another $400 million will go to Holtec to deploy two of their SMR-300 reactors at the Palisades site in Michigan. Both designs receiving Department of Energy funding are smaller reactors with target outputs of about 300 MW electric, compared to the much larger AP1000 reactors built in Georgia that are rated to about 1,100 MW electric. This class of small-but-still-pretty-big reactors focus on minimizing land use and supporting electric grids on a small scale. There’s also a place for them powering larger-scale data centers.
Both reactor projects in Tennessee and Michigan look to be grid connected in the 2030s.
Tyler Durden
Wed, 12/03/2025 – 06:55
https://www.zerohedge.com/markets/europes-energy-transition-destroyed-its-economy
