fishing cup
2025-01-08   

fishing cup We need a strategy to deal with a hydra. It’s Sunday, January 14, 2024, more than 50 hours since the annual MIT Mystery Hunt kicked off at noon on Friday, and Setec Astronomy is one of more than 200 teams racing to solve hundreds of puzzles over three days. The 60-some members of Setec, many of whom are joining remotely from as far away as Australia, are making good progress, even though many of us are running on limited sleep and questionable nutritional decisions. Several of the chalkboards in the Building 2 classroom we’ve been assigned for our team headquarters are covered in lists of puzzle solutions or messy diagrams charting out theories about how to crack the various challenges—all of them constructed, as Mystery Hunt tradition dictates, by the most recent winner, in this case The Team Formerly Known as the Team to Be Named Later. The “hydra” we’re dealing with is a metapuzzle: We have to find a way to use the solutions from other puzzles that we’ve already solved to extract one more answer. If we solve this one, we’ll be rewarded with more puzzles. We know we need to diagram the answers for this round of puzzles as a binary tree. In keeping with the hydra metapuzzle’s mythological analogue, every time we solve one puzzle, two more branch off until we have a diagram five levels deep. We’re still missing answers from several unsolved puzzles that would help us figure out how the diagram works and how to extract an answer to the metapuzzle. The diagram we’ve drawn, in green chalk, gets more chaotic with every addition, erasure, and annotation we squeeze onto the overcrowded chalkboard. But we can sense that we’re just one “aha!” away from a solution. MIT’s Mystery Hunt has been challenging puzzle enthusiasts every year since Brad Schaefer ’78, PhD ’83, wrote 12 “subclues” on a single sheet of paper as a challenge for friends during Independent Activities Period (IAP) in 1981. The answers led solvers to an Indian Head penny he had hidden on campus. Today’s Hunts are still built around that basic concept, but what constitutes a challenge has changed over four decades. One of the clues from the original 1981 Hunt is just a missing word in a quote: “He that plays the king shall be _____; his majesty shall have tribute of me.” It’s easy to solve today with Google, but in 1981, even if you knew it was Shakespeare, if you didn’t notice the subtle hint that you should look for a character referring to a play within the play, it might have taken a few hours of skimming the Bard’s collected works to find the answer. We add a few more solutions to the hydra diagram over the next few hours. Eventually someone notices that all the answers in the fifth level of the diagram seem to have an odd prevalence of Ls and Rs. This is the “aha!” moment: They tell us how to navigate the binary tree. From the first node at the top of the tree, we follow the Ls and Rs in the order they appear in each of the 16 solutions on the fifth level. Take the left branch, then right, then left again, landing on a word that starts with H. The second fifth-level answer leads us to a word that starts with E. Repeating the process with all 16 answers spells out an apt way to deal with a hydra: “HEADTOHEADBATTLE.” (Puzzle solutions are traditionally written in all caps with no spaces or punctuation.) Those of us who’ve been tackling the puzzle take a moment to enjoy our victory before splitting up to find new puzzles to work on. Some elements of the Mystery Hunt are hard to describe, the kind of must-be-seen ingenuity that also inspires hacks on the Great Dome and any number of above-and-beyond engineering projects showcased around campus every year. Most of the puzzles are utterly unique, although they do often incorporate logic and word problems as well as more mainstream elements like crosswords, sudoku, and Wordle. But almost anything can be turned into a puzzle. For example, chess puzzles might be combined with the card game Magic: The Gathering. Or solvers could be asked to organize a Git repository with 10,000 out-of-order commits (that is, find the correct sequence of 10,000 changes to a file as it was tracked in a version control system), identify duets from musicals, or draw on their knowledge of pop culture trivia. For most of its history, the Mystery Hunt had little official status on campus. By tradition as much as any organizational effort, teams simply showed up in Lobby 7 on the Friday before the Martin Luther King Jr. holiday for the kickoff. In 2014, the was formed to help provide year-to-year continuity and other support, such as securing rooms for teams to work in and reserving Kresge Auditorium for the opening ceremonies. Puzzle Club also hosts other events, such as mini puzzle hunts and sudoku and logic puzzle competitions—which Becca Chang ’26, the club’s current president, says “has helped a lot with outreach to new students or anyone who might be interested in [puzzles].” Technology has enabled the Mystery Hunt to grow and evolve in significant ways, and not just in terms of the kinds of puzzles that are possible. Through the mid-1990s, a single person could take on the responsibility of writing and running the event. Today it’s a yearlong commitment for the winning team to design the next year’s Hunt. Doing so requires managing creative output and technological infrastructure that rival those of a small business. Duties include spending thousands of hours writing and testing puzzles, constructing physical puzzles and props, and building a dynamic website that can withstand the huge influx of puzzle-hungry visitors. Just organizing a team of solvers can be a major undertaking, especially now that more and more participants are joining remotely. Anjali Tripathi ’09, who started the team I’m Not a Planet Either in 2015, got her introduction to puzzle hunts through a miniature Mystery Hunt that Simmons Hall runs for first-years. After tackling the main event with the Simmons team on campus as an undergrad, she participated remotely for the first time in 2010. “I was abroad in England and still wanted to do Hunt, and I remember how hard that was,” she says. The team “had no infrastructure for it.” Today, solvers can work together across the room or across a continent. Platforms like Slack and Discord have become indispensable to many teams, which use them for updates and announcements as well as creating separate channels where people can tackle a given puzzle together. Many teams use applications that organize the convoluted deluge of puzzles into a workflow so everyone can see which have been solved, which need attention, and who’s working on what. Google Docs and Google Sheets make it easy for multiple people to contribute to progress on the same puzzle whether they’re sitting side by side on campus or are separated by several time zones. “I think especially post-2020, there is just the expectation that everything is going to be accessible online,” says Tripathi, who still has a Hunt-related Google doc from 2008, just a couple of years after the service launched. But even as the Mystery Hunt has adapted to the internet—and to increasingly powerful search engines, smartphones, the Zoom era, and even some machine-learning applications—at its core it remains a very human experience. “It’s about connecting with other humans—that’s why we do it,” says Erin Rhode ’04, a longtime Mystery Hunter whose team has won twice. She recalls being inducted into the Hunt as a first-year in 2001. “An upperclassman came in and was like, ‘You’re coming to the math majors’ lounge. We’re doing this puzzle hunt thing.’” The name of Rhode’s team changes every year, though they might be best known for the year their name was the entire text of Ayn Rand’s . Last year, they were . (That’s not a typo or a missing word—it’s the zero-width space, a Unicode non-character primarily used in document formatting.) Like so much of the Hunt, team names are an exercise in creativity. The full name of the team running the 2024 Mystery Hunt was officially The Team Formerly Known as the Team Formerly Known as the Team Formerly Known as the Team Formerly Known as the Team Formerly Known as the Team to Be Named Later. Some teams keep their name every year, like Setec Astronomy (an anagram for “too many secrets,” in a reference to the classic 1992 heist film ). Others change every year or every few years, or when teams merge, as when Death from Above joined forces with Project Electric Mayhem to become Death and Mayhem. Rhode remembers one particular puzzle from her first Hunt that she and her team (known that year as the Vermicious Knids) worked on through the night. They had to figure out that a list of enigmatic phrases were clues to song titles. For example, “Of course; you just go north on Highway 101” clued the song “Do You Know the Way to San Jose?” “I think today, we would have solved that puzzle in about an hour,” Rhode says. “There weren’t song lyric databases back then. And so it was a lot more sitting around on your own trying to come up with songs as opposed to just finding some master list and then searching it.” Writing puzzles with the knowledge that solvers will have a slew of tools at hand is just part of the process. “Use whatever technology you have at your disposal to solve the puzzle is the general rule of thumb,” says Jon Schneider ’13, a machine-learning researcher who hunts with ✈️✈️✈️ Galactic Trendsetters ✈️✈️✈️. (The ✈️✈️✈️ in their team name is pronounced like a plane taking off and landing, respectively.) Schneider has been hunting since 2010, when it was common for solvers to have to identify clips of songs or other audio. He’s seen that change in the past decade, though: “Audio recognition [technology] like Shazam has become a thing, so it’s harder to create puzzles that require the skill of music recognition.” “When you’re a constructor, you try to figure out: What is my challenge for the solver?” says Dan Katz ’03. Katz has solved and written a lot of puzzles. (In fact, he created a five-puzzle mini Hunt for this issue’s .) He attended his first Mystery Hunt in 1998, as a junior in high school, before he had even applied to MIT. He’s been part of a winning team eight times (probably a record) and competes in events like the World Sudoku Championship and US Puzzle Championship. In Katz’s view, technology should make puzzling more interesting for the solver. While solvers might need to, say, code a program, organize information in a spreadsheet, or navigate a video-game-like interface to arrive at an answer, what he prizes most is the mental challenge of figuring out to solve a puzzle. Rhode misses the days before an app was able to listen to a few seconds of a song and identify it. “One of my superpowers in the early days of the Hunt was: Play me a bunch of pop songs and I can identify like 90% of them,” she says. “Now everybody’s got Shazam on their phone. And so as fast as I might be, Shazam was always going to be faster.” That doesn’t mean puzzles can’t be based on song identification—or image identification, another common puzzle element that has been made trivial by tools like Google’s image search capabilities. It just means constructors must become more creative. “You have to obscure the images or the music in such a way that the technology can’t find it quickly,” Rhode says. She describes a puzzle she wrote when she wanted solvers to identify songs without using technology: “I arranged eight songs a cappella and sang them myself, but buzzing like a bee. And the whole idea was you can’t Shazam that.” Schneider’s team took a similar approach to constructing a puzzle in which solvers had to identify specific visual artists—not by their work, but by their distinctive style. Solvers were prompted to upload an image of their choosing, and a generative AI tool similar to DALL-E rendered it in the style of the artist they were supposed to name. That’s not the only puzzle to have incorporated some machine-learning elements in the last few years. A few examples have used semantic similarity scoring systems where solvers have to guess words or ­phrases—a kind of machine-learning-enabled version of “hot or cold.” Even if machine learning has potential as a tool for puzzle constructors, generative AI is unlikely to solve Mystery Hunt puzzles anytime soon. ChatGPT can answer questions that might be helpful in getting started and maybe even help solve a crossword clue or two, but the puzzles are often so unusual that it doesn’t know where to begin. When presented with them, it usually responds by stating that it “would need more context or clues” in order to proceed. Schneider did find ChatGPT very helpful, though, in solving a non–Mystery Hunt puzzle about navigating the byzantine rules of the role-playing game Dungeons & Dragons, which he admits he’s never played. A few years ago, there would have been no way around spending hours digging through the rulebooks and figuring out each step, but giving the puzzle to ChatGPT worked. “It was really good at doing this. I guess it had trained on enough data of people playing Dungeons & Dragons that this was within its capabilities,” he says. Schneider is optimistic that new technology will be integrated into Mystery Hunt in creative ways, expanding the scope of what puzzle constructors can come up with to entertain solvers. Ultimately, he says, “I mostly just want to be surprised.” As the sun sets on Sunday, Setec continues solving puzzles at a steady pace, but we’re also still unlocking new sections of the Hunt—a sign that we’re still some distance from the endgame, though rumors (but never spoilers) from friends on other teams suggest that a few teams might be closing in. As midnight rolls around there’s still no announcement, and so we push on. Ultimately, the 2024 Hunt ends up running into Monday morning, one of only a handful of times it’s taken more than 60 hours to complete. A little after 5 a.m., team Death and Mayhem solves the final puzzle to win the 2024 Mystery Hunt—and the responsibility of developing the , which kicks off on January 17. In the end, 266 teams have solved at least one of the 2024 Hunt’s 237 puzzles and Setec Astronomy has solved 174. (Teams typically care less about postgame rankings than about how many puzzles they get to before time runs out.) The Team Formerly Known as the Team to Be Named Later sends out an announcement that a wrap-up event, at which they’ll give a full overview of the weekend and hand over the reins to Death and Mayhem, will begin at noon in 26-100. Because creating a Mystery Hunt is such a daunting task, Death and Mayhem got to work on this year’s within hours of winning, says James Douberley ’13, who assumed the title of “benevolent dictator” to orchestrate and oversee the team’s puzzle writing. The weight of expectation is not lost on Douberley and his teammates: This is a once-a-year event that holds a lot of meaning for many participants. The Mystery Hunt is about solving puzzles, but it’s also far more social and immersive than puzzle books and escape rooms. In 2024, nearly 2,000 people representing 91 teams showed up on campus to participate­—and another 2,450 or so signed up to puzzle from afar. All told, solvers included 52 faculty members, 278 students, and 950 alumni, ranging from recent graduates to those who got their degrees decades ago. For Chang, the Hunt is an opportunity to connect with the broader community, including alumni from her dorm whom she doesn’t see often. “This is the one time in the year that we get to all just be in one place together and do this thing that we love,” she says. “It’s just a really great bonding experience.” The MIT campus plays a special role in the Hunt. Maybe you have to use the walls of the List Visual Arts Center lobby as a grid for a logic puzzle, or find certain names on the memorial plaques in Lobby 10 whose first letters spell out an answer. But it’s not just that clues can be part of the physical space—it’s that campus is the epicenter for the MIT spirit of creativity, inventiveness, and industriousness that makes the Mystery Hunt unique. “People talk about New York being a character in movies,” Katz says. “I feel like MIT is a character in Mystery Hunt.” For Douberley, the Mystery Hunt takes him back to his student days, when he tackled hard challenges through marathon work sessions and all-nighters. “You fall asleep on the floor, and you’re in the dorm lounge and your friend comes and wakes you up and says, ‘Here’s a coffee—I need your help with something,’” he says. “And that is something that lives with you for the rest of your life.” The kicks off on January 17, 2025. But if you’re eager to start puzzling before then—or get a taste of puzzling if you’ve never taken part before—check out the , a pre-Hunt round of puzzles written by the Mystery Hunt team known as the Providence Crime Syndication. Learn more and solve at .

MarketAxess Holdings Inc. stock underperforms Tuesday when compared to competitorsCHARLOTTE, N.C. (AP) — Perhaps the biggest improvement in Bryce Young’s game in Year 2 has been his ability to improvise and use his legs to create plays. On Sunday, Young ran five times for a career-high 68 yards, including a 23-yard touchdown on a scramble in Carolina’s 36-30 overtime win over Arizona , which eliminated the Cardinals from playoff contention . It was Young’s fourth rushing touchdown of the season after failing to score on the ground in 2023 as a rookie. Aside from the touchdowns, his rushing numbers are similar to 2023, but it’s clear Young is making better decisions and getting out of the pocket quicker when his protection begins to breaks down. “I'm trying to take what the defense gives me,” Young said. “As a passer, I always try to remain a passer as long as possible. We talk about all the time just extending above the 2.7 (seconds) and starting the second play, and doing whatever it takes. For me, it's just being more comfortable in the system and playing with the guys. I want to do everything I can to continue to be efficient by moving the chains and doing what’s best for the team. The last couple of weeks have been a little more than that." Young played one of his better games against the Cardinals, finishing 17 of 26 passing for 158 yards and two touchdowns with no interceptions one week after turning the ball over four times in a loss to the Dallas Cowboys. Carolina scored TDs on its first three possessions, the first time that has happened in six years. Panthers coach Dave Canales said Young played “fast” and was “really decisive." “You saw some of the scrambles early in the first half where he was able to pick up some critical third downs for us there and run one in for a touchdown,” Canales said. “It was about just being decisive, knowing where all the bones are buried in his concepts and being able to get to the scramble when those windows opened up for him. Again, just making some really nice throws when we needed him to.” What’s working Carolina's offensive line was outstanding on Sunday in the run-blocking game as the Panthers racked up 243 yards with Chuba Hubbard running for 152 yards and two TDs. Hubbard has 1,195 yards rushing, which ranks as the fourth most in a season in team history behind DeAngelo Williams (1,515) in 2008, Stephen Davis (1,444) in 2003 and Christian McCaffrey (1,387) in 2019. His 10 touchdowns on the ground are tied for the fifth most in franchise history. What needs help The Panthers run defense. It's the same old refrain and it isn't going to get any better until next season. Carolina allowed James Conner to run for 117 yards and a touchdown as Arizona put up 206 yards on the ground. The Panthers have now allowed an average of nearly 200 yards rushing over the past seven weeks under defensive coordinator Ejiro Evero. Injuries have played a major role in that as the team lost defensive lineman Derrick Brown and linebacker Shaq Thompson early in the season, but it's obvious that adding help on the front seven will be a major priority for general manager Dan Morgan in the offseason. Stock up Hubbard got the redemption he sought on Sunday when he ran 21 yards for the winning touchdown in overtime to knock the Cardinals out of playoff contention. Three weeks earlier, Hubbard fumbled in overtime against the Tampa Bay Buccaneers while the Panthers were driving for the winning field goal, costing his team the game. The left Hubbard sitting on the team's bench on the sideline in disbelief. But Hubbard told himself at the time he would get another shot — and make the most of it. Hubbard had all 49 yards on the team's winning drive in OT and finished with 152 yards — 1 shy of a career high — and two touchdowns. Stock down Getting plays in on time to the huddle and getting them off before the play clock expires has been a challenge at times this season, and it crept up again against the Cardinals. On third-and-goal at the Arizona 3, the Panthers were flagged for delay of game after spending too much time reviewing whether Jalen Coker had hauled in a TD catch on the previous play. Replays showed Coker made the catch, but was out of bounds. The play call got in late to Young and he didn't get it off in time and no timeout was called. The penalty moved the Panthers back 5 yards, but the Cardinals bailed them out when they were flagged for roughing the passer. That gave the Panthers a new set of downs at the 4, and Hubbard scored on the next play. Injuries The Panthers came out of Sunday's game relatively injury-free. There had been an illness running through the team's locker room last week and it forced center Cade Mays to sit out the game. Brady Christensen stepped in and played well, helping aid in Hubbard's big day. Key number 1 — The NFL wanted to emphasize taking hip-drop tackles out of the game. Well, for the first time this season a flag was thrown on Sunday, coming against Panthers rookie linebacker Jacoby Windmon with just under eight minutes remaining in the second quarter when he brought down Conner. Conner was not injured on that play, but later left the game in the third quarter with a knee injury. Next steps The Panthers play their final two games on the road at Tampa Bay and Atlanta, so they'll play a factor in who wins the NFC South. AP NFL: https://apnews.com/hub/nfl

CARSON, Calif. — Joseph Paintsil and Dejan Joveljic scored in the first half, and the LA Galaxy won their record sixth MLS Cup championship with a 2-1 victory over the New York Red Bulls on Saturday. After striking twice in the first 13 minutes of the final with goals from their star forwards, the Galaxy nursed their lead through a scoreless second half to raise their league's biggest trophy for the first time since 2014. MLS' most successful franchise struggled through most of the ensuing decade, even finishing 26th in the 29-team league last year. But the Galaxy turned everything around this season with a high-scoring new lineup that finished second in the Western Conference and then streaked through the playoffs with a whopping 18 goals in five games to win another crown. Sean Nealis scored for the seventh-seeded Red Bulls, whose improbable charge through the playoffs ended one win shy of its first Cup championship. With the league's youngest roster, New York fell just short of becoming the lowest-seeded team to win MLS' playoff tournament under first-year German coach Sandro Schwarz. Galaxy goalkeeper John McCarthy made four saves to win his second MLS title in three seasons. He was the MVP of the 2022 MLS Cup Final for the Galaxy's crosstown rival, Los Angeles FC. The Galaxy won this title without perhaps their most important player. Riqui Puig, the playmaking midfielder from Barcelona who ran their offense impressively all season long, tore a ligament in his knee last week in the Western Conference final. Puig watched the game in a suit, but his teammates hadn't forgotten him: After his replacement, Gastón Brugman, set up LA's opening goal with a superb pass, Paintsil held up Puig's jersey to their fans during the celebration. Paintsil put the Galaxy ahead in the ninth minute when he ran onto that sublime pass from Brugman and pounded home his 14th MLS goal — including four in the playoffs — in the Ghanaian forward's outstanding first season. Just four minutes later, Joveljic sprinted past four New York defenders and chipped home the 21st goal of his outstanding year as the Galaxy's striker. Nealis got New York on the scoreboard in the 28th minute when he volleyed home a ball that got loose in LA's penalty area after a corner. The Galaxy's usually shaky defense gave up another handful of good chances before reaching halftime with a tenuous lead. The second half was lively, but scoreless. Red Bulls captain Emil Forsberg hit the outside of the post in the 72nd minute, while Gabriel Pec and Galaxy substitute Marco Reus nearly converted chances a few moments later. The ball got loose again in the Galaxy's penalty area in the third minute of extra time, but two Red Bulls couldn't finish. The Galaxy bench rushed onto the field and prematurely celebrated a victory in the seventh minute of injury time, only to be herded back off for another 30 seconds of play. The Galaxy finished 17-0-3 this season at their frequently renamed suburban stadium, where the sellout crowd of 26,812 for the final included several robust cheering sections of traveling Red Bulls supporters hoping to see their New Jersey-based club's breakthrough on MLS' biggest stage. The Galaxy's Greg Vanney became the fourth coach to win an MLS title with two clubs. The former Galaxy player also won it all with Toronto in 2017. The club famous for employing global stars from David Beckham and Zlatan Ibrahimovic to Robbie Keane and Javier "Chicharito" Hernández rebuilt itself this season with lesser-known young talents from around the world. The Galaxy signed Pec from Brazil and the Ghanaian Paintsil out of Belgium, and the duo combined with incumbent Serbian striker Joveljic to form a potent attack that could outscore almost any MLS opponent. But the Galaxy also relied heavily on Puig, their Catalan catalyst and one of MLS' best players. Puig stayed in last week's game after injuring his knee, and he even delivered the decisive pass to Joveljic for the game's only goal. Get local news delivered to your inbox!Uruguay's voters choose their next president in a close runoff with low stakes but much suspenseLA Galaxy win record 6th MLS Cup

The AP Top 25 men’s college basketball poll is back every week throughout the season! Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here . CORPUS CHRISTI, Texas (AP) — Garry Clark scored 15 points as Texas A&M-Corpus Christi beat Stephen F. Austin 67-48 on Saturday night. Clark had 12 rebounds for the Islanders (6-4, 1-1 Southland Conference). Owen Dease went 3 of 3 from the field to add 10 points. Jordan Roberts had 10 points and shot 4 for 9. Nana Antwi-Boasiako led the Lumberjacks (5-5, 0-2) in scoring, finishing with 13 points, 10 rebounds and three blocks. Clayton Southwick added 10 points and two steals. Myles Jenkins had five points. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .

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The reason mid-cap stocks could outperform small, large caps in 2025India’s new central bank head is a detail-oriented bureaucrat known for working long hours. That discipline will come in handy as he looks to reverse India’s growth slowdown and keep price rises in check. Sanjay Malhotra , the Princeton-educated revenue secretary and three-decade veteran of India’s civil service, is the second career bureaucrat in a row to lead the Reserve Bank of India , replacing Shaktikanta Das after six years in the post. Colleagues and other officials describe Malhotra, 56, as a savvy communicator and a meticulous administrator, known for working late, drinking lots of coconut water and going into the weeds on India’s byzantine tax laws — at times demonstrating more knowledge in meetings than the subject-matter experts reporting to him. Prime Minister Narendra Modi ’s appointment of Malhotra came as a last-minute surprise to many in the government. Described by officials as a “dark horse” whose appointment was like “pulling a rabbit out of the hat,” Malhotra comes with a low profile and a history of shunning the spotlight — qualities that likely worked in his favor with an Indian leader known for his preference for team players over outspoken challengers. While Malhotra’s precise views on monetary policy remain something of a mystery, analysts and officials say his years in the Finance Ministry have given him a consensus-building approach that prioritizes economic growth and revenue generation. Officials also say he won the confidence of Finance Minister Nirmala Sitharaman along with Modi. 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In one of his few public appearances ahead of Monday’s announcement, he told tax officials to keep economic growth in mind and avoid saddling businesses with overly large tax demands. “Revenue comes in only when there is some income,” he told officers at the Directorate of Revenue Intelligence, according to local media reports. “Therefore, we have to be very cautious so that we do not, as they say, kill the golden goose.” As the head of India’s central bank, Malhotra inherits the management of an economy beset with the dual challenge of rising prices and slowing growth. Last month, the RBI said the economy expanded at a seven-quarter low of 5.4% between July and September, putting pressure on the bank to reduce what other top officials in Modi’s government have said are overly high borrowing costs. At the same time, the inflation rate remains well above the government-mandated target of 4%, with price gains accelerating to a 14-month high of 6.21% in October, lifted by volatile food prices. While the combination leaves the new central banker with a difficult balancing act, several analysts said they expect Malhotra to take an accommodative approach to India’s monetary policy in the months ahead. Economists at Nomura Holdings Inc. said they expect a quarter-point cut to the central bank’s benchmark interest rate at the next meeting of the bank’s Monetary Policy Committee in February, projecting a total cut of one percentage point to 5.5% by the end of next year. “A rate cut at the February MPC meeting is now likely cemented (and also warranted, in our view),” the economists, Sonal Varma and Aurodeep Nandi, wrote in a note to clients. Dhiraj Nim, economist at Australia & New Zealand Banking Corp., also forecast a February rate cut of a quarter-point. Still, he said it was too soon to form a full picture of Malhotra’s views. “We don’t know much about the new governor’s views on growth, inflation and the rupee,” Nim wrote. He added: “It may not be prudent to categorize him strictly as a dove or a hawk just yet.” Another challenge facing Malhotra will be overseeing a six-person policy committee in the midst of major turnover. Three new members joined in October alone, and Deputy Governor Michael Patra is due to step down in January. Like his predecessor, Malhotra is not a trained economist and doesn’t come with a history of vocal positions on fiscal or monetary policy. This may make him more closely aligned with the central government on policy matters while avoiding any outward public spats — at least at first, economists said. While at the Finance Ministry, he worked to expand the adoption of India’s more simplified tax regime, intended to boost revenue by easing the compliance burden for ordinary Indians. He was a key driver of an online gaming tax of 28% and was instrumental in leading the global anti-money laundering watchdog FATF’s evaluation of India. He was also credited with managing the backlash to changes by the government earlier this year to India’s long-term capital gains tax. Known for a long schedule sometimes running from 9:30 a.m. to 9 p.m., Malhotra could often be found working late into the night tweaking press releases and social-media posts, while also helping to ease concerns from stakeholders, officials said. Another asset, they said, was his methodical approach to problems, coming to a decision after hearing out all views. That quality will likely prove useful at a central bank staffed with a large number of senior executives, they said. “One has to understand the turf, all perspectives and do what’s the best for the economy,” Malhotra told reporters in New Delhi on Tuesday. Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )

HOUSTON (AP) — Addison Patterson's 25 points helped Northwestern State defeat Houston Christian 64-57 on Saturday night. Patterson also added five rebounds and three steals for the Demons (5-5, 2-0 Southland Conference). Jon Sanders shot 5 of 9 from the field, including 2 for 4 from 3-point range, and went 5 for 5 from the line to add 17 points. Willie Williams shot 5 of 6 from the field to finish with 10 points, while adding 11 rebounds. Bryson Dawkins finished with 13 points for the Huskies (3-7, 1-1). D'Aundre Samuels added nine points for Houston Christian. Julian Mackey also had nine points. The Associated Press created this story using technology provided by and data from .

NoneQB Burrow's home broken into during MNF

A MULTI-AGENCY operation targeting small businesses and cross-border transporters involved in smuggling and unethical business practices last week saw the authorities impound dozens of vehicles, including buses and haulage trucks, and confiscate illicit goods such as foodstuffs and second-hand clothes. The operation, led by a high-level task force on business malpractices established by Cabinet earlier this year, is geared towards curbing smuggling, which the authorities believe is undermining local industries and threatening consumer welfare. The Ministry of Industry and Commerce is spearheading the task force, in collaboration with the Zimbabwe Revenue Authority (Zimra), the Zimbabwe Republic Police, the Reserve Bank of Zimbabwe (RBZ), the Consumer Protection Commission and other law-enforcement agencies. The crackdown is aimed at stopping the influx of illicit goods flooding local markets. The authorities are also targeting businesses engaging in practices such as using parallel market exchange rates and selling counterfeit, underweight or unlabelled goods. To enforce compliance, the authorities have set up 24-hour roadblocks along highways leading into all major cities, with multi-agency teams inspecting vehicles suspected of transporting smuggled goods. Retail outlets are also being subjected to impromptu inspections, where shop owners are being asked to provide documentation to prove their stock was imported legally. Those unable to comply face steep fines and seizure of goods. The operation is set to intensify during the festive season, a period when smuggling activity often peaks. Zimbabwean expatriates returning home are known to bring goods that evade customs duty, exacerbating the challenges faced by local manufacturers. Though the exact number of those who have been caught in the blitz could not be established, sources say dozens of cross-border transporters had their vehicles, including buses and haulage trucks, impounded last week. Responding to an inquiry from The Sunday Mail, Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube said the exercise was meant to protect local industries. “This is a critical issue, and we want to deal with the smuggling which is negatively impacting local businesses, and the Government is losing revenue,” he said. In a statement, Industry and Commerce Minister Mangaliso Ndlovu said the task force was geared towards promoting ethical business practices and safeguarding the economy. “Government, through this task force, is utilising a whole-of-Government approach to address the rampant business malpractices, which have a negative impact on consumer welfare,” he said. “Such malpractices also pose a very serious threat to the viability of our local manufacturing industry, thus affecting employment levels and job creation. “The business malpractices include rampant currency manipulation, use of uncalibrated and unassized fraudulent scales, sale of second-hand clothes, smuggled, counterfeit, underweight and unlabelled goods, among many other offences. “This is highly unacceptable and, as Government, we cannot allow it to continue unchecked. “In light of this background, Government has constituted the Taskforce on Business Malpractices to invigorate surveillance and enforcement efforts aimed at curbing these business malpractices. “The task force teams will, therefore, include, inter alia, tax authorities, law-enforcement authorities, immigration officials, local authorities, consumer protection bodies, small to medium enterprises authorities, as well as the monetary authorities. “The primary objective of the compliance inspections is to ensure businesses operate in accordance with established laws, regulations and industry standards, thereby safeguarding consumer welfare and maintaining a level playing field for all business players.” The Government, he added, will restore order and ensure organised commerce, sanity and stability in the market. “Inspections will be conducted through a combination of on-site spot visits, document reviews and stakeholder interviews. “Businesses found non-compliant will receive guidance on remedial actions and may face prosecutions and penalties for non-compliance,” he added. “In line with existing laws, all expired and fake products will be confiscated forthwith. The business sector is, therefore, advised to treat this matter with the seriousness it deserves. Forewarned is indeed forearmed!” In a statement, Zimra said it was mandatory for travellers and cross-border traders to declare all goods at ports of entry. “This includes items purchased abroad, personal belongings and any goods intended for commercial purposes. “Failure to declare goods can lead to significant legal and financial consequences,” it said. “Travellers may be required to present proof of their customs declaration at roadblocks conducted by the authorities. “The roadblocks are part of the post-clearance audit process to ensure compliance with customs regulations.” Penalties for non-declaration, said Zimra, can include fines, seizure of goods and possible imprisonment in serious cases. “Non-declaration also contributes to significant revenue losses for the Government,” it added. Presenting the 2025 National Budget, Prof Ncube decried the proliferation of smuggled goods in the market. “High incidences of smuggling undermine initiatives to enhance local production, value chains, as well as employment creation,” he said. “Smuggling also creates an uneven playing field between locally produced and legally imported products, undermines Government revenue, promotes illicit activities and discourages investment, hence the need to review the current anti-smuggling strategies. “In addition, smuggling is a threat to public health and safety as smuggled goods, in particular, food items, medicines and alcohol are not subject to health and safety controls. “Whereas Government recently introduced drones at ports of entry with a view to combat smuggling, it has become necessary to introduce complementary measures, as smuggled goods continue to flood the market.”

CARSON, Calif. — Joseph Paintsil and Dejan Joveljic scored in the first half, and the LA Galaxy won their record sixth MLS Cup championship with a 2-1 victory over the New York Red Bulls on Saturday. After striking twice in the first 13 minutes of the final with goals from their star forwards, the Galaxy nursed their lead through a scoreless second half to raise their league's biggest trophy for the first time since 2014. MLS' most successful franchise struggled through most of the ensuing decade, even finishing 26th in the 29-team league last year. But the Galaxy turned everything around this season with a high-scoring new lineup that finished second in the Western Conference and then streaked through the playoffs with a playoff-record 18 goals in five games to win another crown. Sean Nealis scored for the seventh-seeded Red Bulls, whose improbable postseason charge ended one win shy of their first Cup championship. With the league's youngest roster, New York fell just short of becoming the lowest-seeded team to win MLS' playoff tournament under first-year German coach Sandro Schwarz. The Galaxy won this title without perhaps their most important player. Riqui Puig, the playmaking midfielder from Barcelona who ran their offense impressively all season long, tore a ligament in his knee last week in the Western Conference final. Puig watched this game in a suit, but his teammates hadn't forgotten him: After his replacement, Gastón Brugman, set up LA's opening goal with a superb pass, Paintsil held up Puig's jersey to their fans during the celebration. Brugman was named the MLS Cup MVP after a commanding performance in midfield. The Uruguayan hadn't started a match for the Galaxy since Oct. 5, playing only as a postseason substitute before the final. Galaxy goalkeeper John McCarthy made four saves to win his second MLS title in three seasons. He was the MVP of the 2022 MLS Cup Final for the Galaxy's crosstown rival, Los Angeles FC. Paintsil put the Galaxy ahead in the ninth minute when he ran onto that sublime pass from Brugman and pounded home his 14th MLS goal — including four in the playoffs — in the Ghanaian forward's outstanding first season. Just four minutes later, Joveljic sprinted past four New York defenders and chipped home the 21st goal of his outstanding year as the Galaxy's striker. Nealis got New York on the scoreboard in the 28th minute when he volleyed home a ball that got loose in LA's penalty area after a corner. The Galaxy's usually shaky defense gave up another handful of good chances before reaching halftime with a tenuous lead. The second half was lively, but scoreless. Red Bulls captain Emil Forsberg hit the outside of the post in the 72nd minute, while LA's Gabriel Pec and Galaxy substitute Marco Reus nearly converted chances a few moments later. The ball got loose again in the Galaxy's penalty area in the third minute of extra time, but two Red Bulls couldn't finish. The Galaxy bench rushed onto the field and prematurely celebrated a victory in the seventh minute of injury time, only to be herded back off for another 30 seconds of play. After Galaxy owner Phil Anschutz received the MLS Cup that bears his name because of his steady financial support of the league during its shaky years, Galaxy captain Maya Yoshida carried the trophy onto a stage filled with his teammates for a celebration amid fireworks and confetti. The Galaxy extended their lead over DC United (4) for the most MLS Cup championships in league history. The Red Bulls remain one of three original MLS franchises never to win the title, along with FC Dallas and the New England Revolution. The Galaxy's Greg Vanney became the fourth coach to win an MLS title with two clubs. The former Galaxy player also won it all with Toronto in 2017. The Galaxy finished 17-0-3 this season at their frequently renamed suburban stadium, where the sellout crowd of 26,812 for the final included several robust cheering sections of traveling Red Bulls supporters hoping to see their New Jersey-based club's breakthrough on MLS' biggest stage. Just last season, the Galaxy's own supporters boycotted the team at certain matches, fed up with years of mismanagement and no progress. The club famous for employing global stars from David Beckham and Zlatan Ibrahimovic to Robbie Keane and Javier "Chicharito" Hernández swiftly rebuilt itself into a contender this season by spending big to get lesser-known young talents from around the world. The Galaxy signed Pec from Brazil and Paintsil out of Belgium. The duo combined with incumbent Serbian striker Joveljic to form a potent attack that could outscore almost any MLS opponent. But the Galaxy also relied heavily on Puig, their Catalan catalyst and one of MLS' best players. Puig stayed in last week's game after injuring his knee, and he even delivered the decisive pass to Joveljic for the game's only goal. Get local news delivered to your inbox!

Two charged in South Bruce Peninsula break-and-enter

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