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Adding Westbrook to Beal, Wizards hope to return to playoffs

WASHINGTON — At Russell Westbrook’s first practice as a member of the Washington Wizards, he already was setting a tone — showing up early, cajoling teammates and calling them to task, teaching younger players.Exactly a week later, in the fourth quarter of Washington’s preseason debut, there was Westbrook, standing on the sideline — he and Bradley Beal both got the night off — toting a clipboard in his right hand and a marker in his left.“The way he prepares, it’s priceless. And the way the guys can see him prepare and get ready for the game; he was on the court a couple of hours before practice. They’re going to know. They might think, ‘OK, maybe that’s just his first day.’ No. … They’re going to see that this who he is. This is what he’s about,” Brooks said.“He’s a coach on the floor,” Brooks said. “That partnership with him and Brad — they’re about the same things. They’re about basketball.”The Wizards hope they charted a new course by swapping John Wall for Westbrook, the 2016-17 NBA MVP, and pairing the new point guard with shooting guard Beal with the aim of getting back to the playoffs after a two-year absence.“His resume speaks for itself. We need to get better rebounding; he’s a great rebounder. We want to make sure that we’re moving the ball, sharing the ball; he’s one of the league leaders in assists every year,” Wizards general manager Tommy Sheppard said about Westbrook, who is not expected to play in back-to-back games this season, just like he didn’t last season with the Rockets. “Those areas alone, I think, impact us. Defensively, (he’s) one more veteran voice out on the floor that can help be a quarterback out there and is going to help us on the defensive end a great deal.”There are going to be — and will need to be — other players who contribute and play key roles if the Wizards are going to turn things around after losing 50 games two seasons ago and 47 in the pandemic-shortened 2019-20 season.But let’s face it: This team is going to go as far as its two best players take it together. There’s Westbrook, a nine-time all-NBA selection and someone who averaged a triple-double for three seasons. And there’s Beal, a two-time All-Star who was second in the league in scoring last season by averaging 30.5 points.Brooks predicted “a pretty seamless transition” but also acknowledged “there’s going to be some figuring out to do.”“They’re as physical as any backcourt in the league,” said Brooks, who used to coach Westbrook when both were with the Oklahoma City Thunder. “They can be as good as any two-way backcourt in the league. I like that.”BEAL’S DEALSheppard made clear this off-season, before trading away Wall, that this is now Beal’s team. “My biggest thing is win now. … We’ve got to win. The organization knows that,” said Beal, who is healthy after cutting last season short because of a shoulder issue. “It’s up to me, too.” As for his new running mate, he said there are “false narratives” out there related to what sort of teammate Westbrook is, and Beal insists he won’t buy into any of it. “I have a lot to learn from him. … I love his aggression. I love his attack mentality,” Beal said. Westbrook, meanwhile, praised Beal’s “superstar talent.” Said Westbrook: “My job is to come in and continue to uplift him, try to push him to be better. That’s all I’m here for. I’m happy to be his counterpart and try to make the game easier for him.”COACH’S CONTRACTBrooks is entering the final season of his five-year, $35 million contract. Westbrook credited with Brooks helping him become the player he is today by allowing him to play through mistakes and get better when he first entered the pros. “The trust part for me was huge,” Westbrook said, adding: “We created a relationship, not just at work, but a friendship.”RUI AND DENIWashington has a lot of young players (13 in training camp with fewer than three NBA seasons) and a decidedly international cast, including its past two first-round draft picks: Rui Hachimura, a 22-year-old from Japan, and Deni Avdija, a 19-year-old from Israel. The team could use significant minutes and moments from both forwards. “He has a lot of dog. He doesn’t back down from anybody,” Beal said about Avdija. “It’s just a matter of getting him a better feel for the game at the 3, at the 4, mixing him up. Once he gets fully acclimated, he’ll be just like Rui. Rui’s growth is crazy to see now.”___More AP NBA: https://apnews.com/NBA and https://twitter.com/AP_SportsHoward Fendrich, The Associated Press

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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