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Starbucks Workers United said Tuesday that 98% of union baristas have voted to authorize a strike as they seek a contract with the coffee giant.

Bargaining delegates are set to return to negotiations with Starbucks on Tuesday in the last scheduled session of the year with the goal of agreeing on a “foundational framework.” Starbucks and Workers United have spent hundreds of hours this year at the bargaining table, and both sides have put forward dozens of tentative agreements, the union said in a press release.

However, hundreds of unfair labor practice cases still have not been settled, and the union said Starbucks has not yet proposed a comprehensive package that would address barista pay and other benefits.

In a statement to CNBC, Starbucks disputed the union’s characterization and said the company remains committed to reaching a final framework agreement.

“It is disappointing that the union is considering a strike rather than focusing on what have been extremely productive negotiations. Since April we’ve scheduled and attended more than eight multi-day bargaining sessions where we’ve reached thirty meaningful agreements on dozens of topics Workers United delegates told us were important to them, including many economic issues,” the company said in the statement.

The strike authorization shows that relations between the two sides may again be cooling, after thawing in late February when both parties said they found a “constructive path forward” though mediation. Prior to that point, Starbucks had fought the union boom that swept across its company-owned locations for more than two years. The company’s attempts to curb the union movement led to backlash from some consumers and lawmakers, culminating with former CEO Howard Schultz testifying on Capitol Hill.

Starbucks CEO Brian Niccol, who joined the company in September, committed to bargaining in good faith in a letter addressed to the union in his first weeks on the job.

Niccol announced on Monday that the company would double its paid parental leave, starting in March. However, baristas will reportedly receive a smaller annual pay hike next year than they have in previous years, following a sales slump at its U.S. locations.

More than 500 company-owned Starbucks cafes have voted to unionize under Workers United since the first elections that took place in Buffalo three years ago.

This post appeared first on NBC NEWS

Grubhub will pay $25 million to settle charges it misled customers about the cost of their delivery and drivers about how much they could earn on the food-delivery platform.

The Federal Trade Commission and the attorney general for the state of Illinois accused Chicago-based Grubhub of engaging ‘in an array of unlawful practices’ designed to ‘deceive’ diners and workers alike about the cost of doing business on the platform.

The agencies said they had uncovered messages that demonstrated Grubhub’s allegedly illicit tactics, including an internal message from a former executive stating that the tactic of adding service fees in a way that was “misleading, eroding trust,” and “truly more expensive” for consumers.

The upshot was often a final price sometimes more than double what it originally advertised to a platform user, the agencies said.

Grubhub also allegedly engaged in false advertising to attract drivers, citing hourly pay rates ‘well above what drivers could realistically expect to earn,’ according to a release accompanying the civil complaint.

Finally, Grubhub falsely advertised restaurants on its platform that had not signed up with it. According to the complaint, Grubhub has, over the course of its existence, as many as 325,000 unaffiliated restaurants on its platform, the agencies said.

In addition to the settlement payment, Grubhub must also make changes to its platform that include telling consumers the full cost of delivery, honestly advertising pay for drivers, and only listing restaurants that have given their consent.

“Our investigation found that Grubhub tricked its customers, deceived its drivers, and unfairly damaged the reputation and revenues of restaurants that did not partner with Grubhub — all in order to drive scale and accelerate growth,” FTC Chair Lina M. Khan said in a statement.

“Today’s action holds Grubhub to account, putting an end to these illegal practices and securing nearly $25 million for the people cheated by Grubhub’s tactics. There is no ‘gig platform’ exemption to the laws on the books.”

In a statement, Grubhub acknowledged the settlement and said it would make changes to its operations, but denied the charges.

‘While we categorically deny the allegations made by the FTC, many of which are wrong, misleading or no longer applicable to our business, we believe settling this matter is in the best interest of Grubhub and allows us to move forward,’ it said.

The agencies had sought a $140 million judgment against the company, but reduced it to what Grubhub is able to pay, the agencies said. If Grubhub is found to have misrepresented its financial position, the full penalty will apply, they said.

Grubhub is set to be sold to Wonder Group, a food delivery and takeout service headed by Marc Lore, the former head of Walmart’s eCommerce unit.

This post appeared first on NBC NEWS

Norfolk State is hiring former NFL quarterback Michael Vick as head coach.

Vick confirmed the news Tuesday night on his verified Facebook account. The Virginian-Pilot was the first to report the news.

Vick, 44, played collegiately for Virginia Tech and then was taken No. 1 overall by the Atlanta Falcons in the 2001 NFL draft. He also played for the Philadelphia Eagles, New York Jets and Pittsburgh Steelers in his professional career.

The decision to tap Vick, who has been an NFL analyst for Fox Sports since 2017, is a major gamble for Norfolk State, located near his hometown of Newport News, Virginia. Vick has never coached on any level of competition. He was also in contention for the opening at Sacramento State, according to reports.

But prior experience has become less and less of a dealbreaker for programs looking for the immediate spark provided by a big-name hire. Most famously, Jackson State hired Deion Sanders despite his lack of college coaching experience and went 27-6 over three seasons before Sanders left for the same position at Colorado.

One of the most unforgettable quarterbacks in modern college football history, Vick redshirted his first season before taking the sport by storm in his two seasons as Virginia Tech’s starter. Despite his underwhelming numbers by current standards – a combined 21 passing touchdowns, 17 rushing scores and 4,495 yards of total offense – Vick transformed the position with an unmatched blend of speed, power, explosiveness and athleticism.

After finishing third in the Heisman Trophy voting as a redshirt freshman and leading the Hokies to the Bowl Championship Series title game in 1999, Vick declared for the 2001 NFL draft after his sophomore year and became the first Black quarterback to be taken first overall.

He made the Pro Bowl three times in Atlanta, finished second in the MVP voting in 2004 and set numerous franchise and NFL records. In 2006, Vick became the first quarterback to run for 1,000 yards and averaged a record 8.4 yards per carry.

But his career disintegrated shortly thereafter. In August 2007, Vick pleaded guilty to his part in a dogfighting ring and was sentenced to just under two years in federal prison. He was suspended indefinitely by the NFL.

Vick signed with the Philadelphia Eagles upon his release from prison in 2009. He was the Eagles’ primary starter from 2010-12, earning Pro Bowl honors in 2010 after throwing for 3,018 yards and a career-high 21 touchdowns. His last season was with the Pittsburgh Steelers in 2015.

This post appeared first on USA TODAY

There was scoring left and right, but it was Memphis that emerged as the winners of the 2024 Frisco Bowl, beating West Virginia 42-37 in a highlight-filled game.

Memphis started the game hot with 17-straight points to start the night, and it paved the way for the victory as West Virginia was forced to play catch-up. While the Mountaineers were able to pick it up, the Tigers made sure to respond each time and kept West Virginia from pulling off the comeback. West Virginia had a chance to take the lead late, but a Memphis interception sealed it.

Both sides combined for 1,008 total yards.

Quarterback Seth Henigan has stayed at Memphis the past four seasons, breaking plenty of school records and helping the Tigers become a contender in the American Athletic Conference. He ended his college career in great fashion with 294 yards on 18-for-26 passing and 54 yards on the ground in his 50th start.

There were hopes of being the Group of Five representative in the College Football Playoff, and while it didn’t happen, Memphis still finished with 11 wins – its most since 2019 – and has back-to-back 10-win seasons for the first time in school history.

On the other side, West Virginia finishes the season 6-7 and will begin its preparations for Rich Rodriguez’s second stint in Morgantown.

Memphis comes up with late interception for the win

Memphis almost gave West Virginia a last-second chance, but video review seals it for the Tigers.

With 17 seconds left and at the Memphis 37-yard line, West Virginia’s Garrett Greene threw a pass that was intercepted by Memphis’ Elijah Herring. However, instead of going immediately down, Herring ran around a bit, and just as he was going down, the ball was punched out of his hands and recovered by the Mountaineers.

The play went to video review, and officials determined Herring slid, giving himself up, before the ball came out, meaning Memphis held on to the ball. The Tigers then took a knee to finish the game.

Memphis 42, West Virginia 37: Mountaineers stay alive

With under five minutes to go, West Virginia isn’t done yet.

Needing a touchdown, West Virginia went 75 yards on 12 plays in six-and-a-half minutes to make it a one-score game again. C.J. Donaldson Jr. had another 1-yard run to punch it in for the touchdown, his second score of the day. The running back has 22 carries for 83 yards and two catches for 11 yards. Now the Mountaineers need to get a stop in order to keep the chance of winning alive.

Memphis 42, West Virginia 30: Big catch sets up touchdown

A long pass helped set up a Memphis touchdown and pushes the lead back to two scores.

On the first play following West Virginia’s touchdown, Seth Henigan found Demeer Blankumsee on the go route and he stumbled just outside of the goal line for an 89-yard strike. On the next play, Brandon Thomas punched it in for the touchdown.

Memphis 35, West Virginia 30: Mountaineers score on fourth down

West Virginia needed to convert a fourth down play, and it resulted in six points.

After starting at their own 10-yard line, the Mountaineers went down the field and got all the way inside the Memphis 5-yard line. On third-and-goal, a completed pass ended right at the 1-yard line and the Mountaineers were faced with a decision. The offense stayed on the field, and it was a success with C.J. Donaldson Jr. just getting over the goal line. It’s now a one-score game in Frisco.

End of third quarter: Memphis 35, West Virginia 23

It remains a double-digit lead for Memphis heading into the final quarter.

West Virginia has had to play catch-up for much of the game, and the defense finally made a stop in the third quarter to force a punt. The Mountaineers will start the fourth quarter with the ball and will try to claw back in this one.

Memphis 35, West Virginia 23: Mountaineers respond with own score

The West Virginia offense is doing all it can to stay in the game with its own touchdown on its first possession of the second half. It was a methodical drive down the field with Garrett Greene finding Hudson Clement in the end zone for the receiver’s second touchdown on the night. The extra point was no good after the Mountaineers kicking unit couldn’t get the snap down.

Memphis 35, West Virginia 17: Tigers score out of halftime

The offense has picked up right where it left off with Memphis getting right back in the end zone to start the third quarter. The Tigers went 75 yards on eight plays to extend the lead, punctuated with a 3-yard run by Mario Anderson.

Halftime: Memphis 28, West Virginia 17

It was all offense in the second quarter for both sides with 35 combined points scored in the frame and Memphis holding an 11-point lead.

The Tigers got out to a fast start with a 17-0 lead, but West Virginia’s offense woke up midway through the second quarter and wasted no time cutting the deficit. West Virginia kicker Michael Hayes made an 46-yard field goal as time expired in the first half.

Both teams combined for 503 total yards in the first half and Memphis will get the ball out of halftime.

Memphis 28, West Virginia 14: Tigers add score, two-point conversion just before halftime

Offense can’t be stopped in Frisco. Memphis responded with a quick touchdown before halftime to give it a two-touchdown lead just before the break.

The Tigers moved 75 yards in five plays and 47 seconds to add its second touchdown of the second quarter. Seth Henigan found Demeer Blankumsee in the corner of the endzone for an 18-yard touchdown pass, and the two Tigers connected again on the two-point conversion.

Memphis 20, West Virginia 14: Garrett Greene scrambles for 56-yard touchdown

When no one was open, Garrett Greene decided to take it to the house.

The Mountaineers quarterback scrambled to the right and turned on the jets on the way to the endzone to close the deficit to six points. It’s the 28th career touchdown for Greene, and the longest rushing touchdown for West Virginia this season.

Memphis 20, West Virginia 7: Tigers add another field goal

Kicker Tristian Vandenberg knocked in his second field goal of the night with a 42-yard kick through the uprights.

Memphis 17, West Virginia 7: Incredible catch gets Mountaineers on the board

Hudson Clement extended as far as he could to haul in a spectacular catch in the endzone and get West Virginia back in the game. The sophomore receiver was able to haul the catch and get a leg in bounds before stepping out.

Memphis 17, West Virginia 0: Big run extends lead

All Memphis needed was one play on the drive to strengthen its lead as Greg Desrosiers Jr. took it 46 yards to the house to make it a three-score game.

Memphis 10, West Virginia 0: Tigers take advantage of turnover

Memphis made it a two-score lead to open the second quarter with a 34-yard field goal from Tristian Vandenberg. The score came off a West Virginia fumble.

End of first quarter: Memphis 7, West Virginia 0

So far it’s been all Memphis after 15 minutes as the West Virginia offense has struggled to do much early.

The Mountaineers have generated just 28 yards of offense and just one first down in three drives. They gave Memphis good field position midway through the first frame that led to a Tigers touchdown. On the following drive, West Virginia’s C.J. Donaldson Jr. fumbled the ball that set Memphis up on the Mountaineers’ side of the field.

Memphis 7, West Virginia 0: Tigers score first

Memphis took advantage of good field position to get in the end zone for the first score of the game.

It was a mixture of the run and the pass that helped Memphis go 45 yards down the field, with quarterback Seth Henigan coming up big on a third down play with a 23-yard scramble to get inside the 5. On the next play, Henigan dumped it off to Mario Anderson Jr. and the running back leaped across the goal line for a 4-yard touchdown pass.

When is the Frisco Bowl between Memphis and West Virginia?

The kickoff for the Scooter’s Coffee Frisco Bowl game between the No. 23 Memphis Tigers and the West Virginia Mountaineers at Toyota Stadium in Frisco, Texas, is Tuesday at 9 p.m. ET.

How to watch Memphis and West Virginia in the Frisco Bowl

The Scooter’s Coffee Frisco Bowl game between the No. 23 Memphis Tigers and the West Virginia Mountaineers will be televised nationally on ESPN.

Live streaming is available on Fubo, which has a free trial.

Catch Memphis and West Virginia in the Frisco Bowl with Fubo

Memphis vs. West Virginia odds, line

The Memphis Tigers are the favorites to defeat the West Virginia Mountaineers in the Frisco Bowl, according to the BetMGM college football odds on Tuesday afternoon.

  • Spread: Memphis (-5) 
  • Moneyline: Memphis (-210); West Virginia (+170) 
  • Over/under: 59.5

Memphis vs. West Virginia: Frisco Bowl predictions

USA TODAY: Memphis a heavy favorite

  • Scooby Axon: Memphis
  • Jordan Mendoza: Memphis
  • Paul Myerberg: West Virgina
  • Erick Smith: Memphis
  • Eddie Timanus: Memphis
  • Dan Wolken: Memphis

Reed Wallach, Sports Illustrated: Memphis to win

Wallach writes, ‘The Tigers defense has been vulnerable at times, especially against big plays with an explosive rush and pass rate outside the top 100, but the team can feast on Greene’s shaky decision making. In a game that is being lined as a coin flip, there are plenty of reasons to side with the small favorite to cap its season with a win.’

Adam Burke, VSiN: Memphis (-5)

Burke writes, ‘The Tigers defense has given up a lot of points this season, but West Virginia doesn’t have the tempo or the potency of an AAC offense. QB Garrett Greene had a 13/11 TD/INT ratio and the Tigers were tied for ninth with 24 takeaways. They are also an opportunistic defense with 14 fumble recoveries. WVU only lost four fumbles during the season. But, as a defense, they only had 11 takeaways, so Memphis may very well carry the edge in the turnover margin department.’

The Athletic: Memphis to win

The Athletic’s team unanimously picked Memphis to win, one of only six unanimous predictions, alongside Notre Dame to beat Indiana, James Madison to beat Western Kentucky, Pitt to beat Toledo, Kansas State to beat Rutgers, and Syracuse to beat Washington State.

Clutch Points: Memphis

Nate Duffett writes, ‘Memphis’ explosive offense should be too much for West Virginia in this game. We mentioned that when the Mountaineers lost, they lost big, which could be bad news when facing the Tigers’ offense. Take Memphis to blow this game open with their passing game and hold on for a convincing victory, which they have been doing all season.’

Bowl game schedule

There are 46 games on the college football postseason schedule this season, with the expansion of the College Football Playoff adding to the intrigue of bowl season. The Salute to Veterans Bowl between South Alabama and Western Michigan kicked off the action on Dec. 14, and it all comes to a conclusion 37 days later at the CFP national championship game. USA TODAY Sports has you covered with a complete schedule for every bowl game coming up on the calendar. — Mark Giannotto

USA Today college football bowl schedule

Memphis vs. West Virginia all-time record 

Tuesday’s Frisco Bowl marks the first time that the Memphis Tigers and the West Virginia Mountaineers have faced off in their respective programs’ histories.

We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an affiliate fee. USA TODAY Network newsrooms operate independently, and this doesn’t influence our coverage.

This post appeared first on USA TODAY

Given the style of play in today’s NBA, 3-pointers are a necessity. In Tuesday’s NBA Cup final, the Milwaukee Bucks made them and the Oklahoma City Thunder did not.

It also helps to have two-time MVP Giannis Antetokounmpo on your side.

The Bucks captured the NBA Cup championship with a 97-81 victory against the Thunder, capitalizing on 3-pointers, a triple-double from Antetokounmpo (26 points, 19 rebounds and 10 assists) and 23 points from Damian Lillard.

The Bucks outscored the Thunder 51-15 on 3-pointers, with Milwaukee shooting 42.5% from 3 (17-for-40), and the Thunder making just five of their 32 3-point attempts (15.6%). It’s about impossible to win a game in today’s NBA with that discrepancy.

‘It’s the best feeling ever, just winning,’ Antetokounmpo said. ‘Winning feels good. Playing big games, feels good when you’re able to come to the game and execute your game plan, and then the outcome is exactly what you want it to be.’

Brook Lopez had 13 points and nine rebounds, and Gary Trent Jr. also added 13 points off the bench for the Bucks.

While this game does not count in the standings, the Bucks have rebounded from a 2-8 start and have won 13 of their past 16 games.

Shai Gilgeous-Alexander led the Thunder with 21 points but was just 8-for-24 from the field and 2-for-9 on 3s.

Bucks vs. Thunder highlights

Giannis Antetokounmpo named NBA Cup MVP

Antetokounmpo earned NBA Cup MVP. In six Cup games, he averaged 30.5 points, 10.2 rebounds, 7.7 assists, 2.8 blocks and 1.2 steals and shot 66.7% from the field. 

Bucks lift NBA Cup

Final: Bucks 97, Thunder 81. Milwaukee wins NBA Cup

Triple-double for Giannis Antetokounmpo

Giannis Antetokounmpo’s assist late in the fourth quarter gave him a triple-double with 26 points, 19 rebounds and 10 assists – plus three blocks and two steals as Milwaukee closed in on the NBA Cup title.

Bucks extend lead early in fourth

The Thunder need a big fourth-quarter comeback. Milwaukee’s quick 6-2 start to the fourth quarter on 3-pointers by Gary Trent Jr. and Brook Lopez has extended its lead to 83-66 with 10:01 left in the fourth.

Bucks take double-digit lead into fourth quarter: Bucks 77, Thunder 64

Milwaukee’s Giannis Antetokounmpo is two assists from a triple-double, and the Bucks are 12 minutes from winning the NBA Cup.

They have a 77-64 lead against Oklahoma City after three quarters as Antetokounmpo has 26 points, 15 rebounds, eight assists, two steals and one block, and teammate Damian Lillard has 20 points. They are the only two Bucks players in double figures, but five other Milwaukee players have at least five points.

Shai Gilgeous-Alexander has a team-high 19 points, and Jalen Williams and Isaiah Hartenstein each have 14 points for the Thunder. However, Oklahoma City remains hampered by poor 3-point shooting – just 3-for-24 on 3s and it’s been outscored 33-9 on 3s. It’s hard to win a high-level game shooting 12.5% from deep.

Quick timeout for OKC early in third quarter

Thunder coach Mark Daigneault did not like his team’s start to the third quarter and called a timeout 2 minutes, 6 seconds into the third with the Bucks ahead 59-53. Giannis Antetokounmpo is moving closer to that triple-double: he has 16 points, eight rebounds and seven assists. Damian Lillard is up to 15 points after making a 3-pointer.

Halftime: Bucks 51, Thunder 50

Giannis Antetokounmpo and Damian Lillard make the Bucks go – and they have Milwaukee halfway to an NBA Cup title. Milwaukee took a 51-50 lead into halftime, buoyed by Antetokounmpo’s 14 points, six rebounds and five assists (triple-double watch) and Lillard’s 12 points, four assists and three rebounds. The Bucks have 14 assists on 19 made field goals – ball movement is leading to good shots.

Oklahoma City was just 1-for-17 on 3-pointers and was outscored by the Bucks 21-3 from that distance. Isaiah Hartenstein has a team-high 14 points for the Thunder. Jalen Williams had 11 points, and Shai Gilgeous-Alexander 10 for OKC in the first half. Gilgeous-Alexander is just 4-for-13 from the field, including 1-for-5 on 3s.

Andre Jackson Jr., Isaiah Hartenstein hit with technical fouls as tempers flare

Milwaukee’s Andre Jackson Jr. and Oklahoma City’s Isaiah Hartenstein were issued technical fouls for a brief altercation that occurred with 1:56 left in the second quarter.

It appeared Jackson gave Thunder All-Star Shai Gilgeous-Alexander a little shove on a Gilgeous-Alexander field goal attempt. On the next possession, Hartenstein and Jackson exchanged words and had to be separated. After an altercation review by referees, both were given technical fouls. 

Thunder remain out in front

Isaiah Hartenstein (12 points), Shai Gilgeous-Alexander (10 points) and Jalen Williams (eight points) have combined for 30 points as the Thunder are up 41-37 against the Bucks with 6:15 left in the second quarter. Damian Lillard leads the Bucks with 12 points. Milwaukee has outscored Oklahoma City 21-3 on 3-pointers, but OKC is shooting 69.6% on shots inside the 3-point line while Milwaukee is just 5-for-16 on 2-pointers.

End of first quarter: Thunder 28, Bucks 27

In a first quarter that had six lead changes, the Thunder grabbed a 28-27 lead after the opening 12 minutes. Shai Gilgeous-Alexander and Isaiah Hartenstein each had 10 points for the Thunder, and Gilgeous-Alexander also had two rebounds and two assists.

The potent 1-2 punch of Giannis Antetokounmpo and Damian Lillard combined for 13 of Milwaukee’s 27 points, and the Bucks went 5-for-9 from 3-point range to stay close.

OKC shot 57.1% from the field (but just 1-for-6 on 3s) in the first quarter, and Milwaukee was 9-for-20 from the field.

3-ball working for Bucks

Even though the Thunder are 10-for-17 shooting from the field, they are 0-for-4 on 3-pointers. Meanwhile, the Bucks are shooing 46.7% from the field but have made four of their seven 3-pointers and own a 22-20 lead with 3:25 left in the first quarter. Taurean Prince, Brook Lopez, Bobby Portis and Damian Lillard have made 3s for Milwaukee.

Strong starts for Isaiah Hartenstein, Jalen Williams

Thunder center Isaiah Hartenstein, one of the savvy offseason acquisitions, had six points (3-for-3 shooting) and two rebounds in the first three minutes, and teammate Jalen Williams, who is making a case for his first All-Star appearance, has four points, one rebound, one assist, one steal and one block as the Thunder own an early 16-9 lead, forcing a Milwaukee timeout with 7:30 left in the first quarter.

No Khris Middleton for Bucks

Milwaukee small forward Khris Middleton, who played in his first game this season on Dec. 6, is out with a non-COVID illness.

NBA Cup final features two MVP candidates

Milwaukee’s Giannis Antetokounmpo has won two MVPs. Oklahoma City’s Shai Gilgeous-Alexander finished second last season to Denver’s Nikola Jokic, who won his third MVP in four seasons.

They are among the leading candidates for the 2024-25 MVP two months into the season, and Antetokounmpo’s Bucks play Gilgeous-Alexander’s Thunder in the NBA Cup final.

The Bucks are hot after a 2-8 start and have won 12 of their past 15 games, and Antetokounmpo is leading the way. He is the NBA’s top scorer at 32.7 points per game and averages 11.5 rebounds, 6.1 assists and 1.6 blocks and shoots 61.4%, which would be a career high if he maintains that percentage. If the Bucks continue to win and vault into the top four in the Eastern Conference by season’s end (they are in sixth place right now), Antetokounmpo will have a great case for his third MVP.

Gilgeous-Alexander averages 30.3 points, 6.3 assists, 5.5 rebounds and 1.9 steals and shoots 51% from the field, 34% on 3s and 86.4% on free throws – and the Thunder are atop the West at 20-5. Just two players (Gilgeous-Alexander and Jokic) average at least 30 points, 6.0 assists, 5.0 rebounds and 1.5 steals this season. A 60-win season with those stats might give Gilgeous-Alexander his first MVP.

NBA Cup final predictions

  • Jeff Zillgitt, USA TODAY: Thunder 112, Bucks 100
  • Lorenzo Reyes, USA TODAY: Thunder 108, Bucks 101
  • James Williams, USA TODAY: Thunder 100, Bucks 98

NBA Cup prize money

Here is the NBA Cup prize money for players in 2024: 

  • Players on losing quarterfinals teams: $51,497
  • Players on losing semifinals teams: $102,994
  • Players on losing team in championship game: $205,988
  • Players on winning team in NBA Cup championship game: $514,970

Why did the NBA Cup prize money increase?

The prize money increased because the players and the league agreed on it in the 2023 collective bargaining agreement as it relates to basketball-related income.

Following the first season of the NBA Cup in 2023, according to the CBA, prize money will increase ‘for each subsequent Salary Cap Year: (A) for each IST Player on the Team that wins the IST Finals Game, an amount equal to $500,000 multiplied by the ‘BRI Growth Factor’ for such Salary Cap Year; (B) for each IST Player on the Team that loses the IST Finals Game, an amount equal to $200,000 multiplied by the BRI Growth Factor for such Salary Cap Year; (C) for each IST Player on a Team that loses an IST Semifinals game, $100,000 multiplied by the BRI Growth Factor for such Salary Cap Year; and (D) for each IST Player on a Team that loses an IST Quarterfinals game, $50,000 multiplied by the BRI Growth Factor for such Salary Cap Year.’

What is BRI growth factor? According to the CBA, ‘the BRI Growth Factor for a Salary Cap Year is a fraction, the numerator of which is BRI for the immediately preceding Salary Cap Year and the denominator of which is BRI for the 2022-23 Salary Cap Year; provided, however, that the NBA and Players Association may agree to reduce the BRI Growth Factor for one (1) or more Salary Cap Years to a smaller fraction with value of no less than one (1).’

In simpler terms, the prize money is about a 3% increase season over season.

What time is the NBA Cup final?

The NBA Cup final tips off at 8:30 p.m. ET on Tuesday.

How to watch the NBA Cup final

Tuesday’s NBA Cup final is at 8:30 p.m. ET on ABC and can be streamed on Fubo.

Where is the NBA Cup final?

Tuesday’s final is being played at T-Mobile Arena in Las Vegas.

The USA TODAY app gets you to the heart of the news — fastDownload for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more.

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The much ballyhooed match between PGA Tour vs. LIV Golf took place tonight as Scottie Scheffler and Rory McIlroy locked horns with Bryson DeChambeau and Brook Koepka in ‘The Showdown’ on TNT. While LIV Golf may be the new, fun brand, it was the PGA Tour that walked away with the victory, and in dominant fashion.

The match itself offered an opportunity to get into the minds of the golfers, with each of them mic’d up throughout the night. Unfortunately, the matchup itself wound up finishing sooner than we’d expected, as Scottie Scheffler and Rory McIlroy dominated from the get-go, taking home the $10 million cryptocurrency prize purse.

Here’s everything that happened at Shadow Creek Golf Course in North Las Vegas.

Watch The Showdown on Sling

PGA Tour wins The Showdown

From early on, it was evident that Scheffler and McIlroy were playing a level above Koepka and DeChambeau. Perhaps DeChambeau’s parka was a giveaway that LIV was not ready to play in the cold Vegas air.

McIlroy’s heroics with the putter combined with Scheffler’s consistency and DeChambeau’s struggles allowed the PGA Tour to secure the win in just 14 holes.

LIV’s day on the links gets even worse

If you though it couldn’t get worse for DeChambeau and Koepka, you’d be mistaken. The 16th hole saw LIV spend more time in the trees than the fairway. Still, despite the time in the woods, LIV had an opportunity to stay alive if Koepka could’ve sunk a 10-foot putt. Unfortunately, Koepka left the putt to the right, allowing Scheffler to take a two hole lead with only two holes to play.

Given that LIV Golf needed both Koepka and DeChambeau to win their singles matches to have a chance, Koepka’s missed putt gave the win to the PGA Tour. It was a fitting end to a forgettable day for LIV Golf.

Scheffler, McIlroy up 1

With three holes to play, both PGA Tour golfers are one up. DeChambeau actually won Hole 15 after McIlroy left his shot short of the creek on 15, forcing a very tough shot onto the green, while DeChambeau was already near the pin. However, it may not be enough for DeChambeau to overcome his deficit.

DeChambeau having a rough day with the putter

Hole 14 saw LIV Golf win one of their matchups as Koepka defeated Scheffler, but DeChambeau continued to struggle, missing a putt that would’ve tied the hole with McIlroy.

Following the missed putt, DeChambeau was noticeably upset. He put his head in his hands and covered his face for a few seconds before walking over and picking up his ball. While Scheffler and Koepka are tied through two holes of the final segment, DeChambeau is down two with only four holes to play. LIV Golf needs both DeChambeau and Koepka to win their matchups for any shot at the $10 million grand prize.

LIV Golf bogies Hole 13

LIV Golf needs to win each of their singles matchups – Scheffler vs. Koepka, McIlroy vs. DeChambeau – for any shot to win The Showdown, but the third and final segment got off to a rocky start. Hole 13 is a tough Par 3, but both McIlroy and Scheffler were able to earn pars. DeChambeau and Koepka each lipped out their par putts. It was close, but as has been the case all night, LIV Golf is constantly coming up just short. They are at a huge disadvantage with only five holes to play.

PGA Tour wins second segment

Although it was much closer than the first segment, the PGA Tour duo of Scottie Scheffler and Rory McIlroy walked away from Hole 12 with a 2 segment to none lead over LIV Golf. DeChambeau and Koepka gave the PGA Tour a run for their money, winning Hole 11 to knot the score up, but after a missed putt opened the door, McIlroy’s ever-faithful putter sealed the victory for his team.

The PGA Tour only needs to halve the final segment – singles play – to secure the grand prize.

DeChambeau and Koepka win their first hole

LIV Golf finally got on the board with a win on Hole 11. PGA Tour’s Rory McIlroy had an opportunity to earn a birdie with a mid-range putt, but missed. McIlroy was flabbergasted, and visibly upset with himself.

That opened the door for Koepka to win the hole. He did just that. We head into Hole 12, the final hole of the second segment, with the teams knotted up. Each team needs 2.5 segments to win the event, meaning if DeChambeau and Koepka cannot win this last hole, their only hope for a win would be each of them winning their singles matches and forcing a playoff.

DeChambeau frustrated after Hole 10

It hasn’t been a great showing for LIV Golf tonight, and Hole 10 was no different, but it could’ve been much worse. DeChambeau had an opportunity to birdie the hole and knot the second segment back up, but he lipped out. Over the broadcast, you could hear DeChambeau audibly say ‘Are you kidding me?’ after the miss. Luckily, Scheffler lipped his birdie putt out as well, giving Koepka an opportunity to tie the hole, which he drained. Through four holes in the second segment, Scheffler and McIlroy are up one.

Scheffler and McIlroy finally break through

After a terrific second shot by Scheffler, McIlroy was set up for an easy birdie to take the lead in the second segment. McIlroy’s putter has been money all night, so it was nearly a guarantee as soon as Scheffler hit the green. Through three holes in the second segment, PGA Tour is up one. LIV Golf needs to win this segment for any hope at the prize money.

Second segment remains knotted up

Once again, McIlroy and Scheffler had an opportunity to take a lead in the second segment, but McIlroy’s impressive putter failed them as he rolled the ball right of the hole on what would’ve been the hole-clinching putt. Through two in the second segment, it’s still tied.

Scheffler biffs putt to win first hole of second segment

LIV Golf was all over the yard on the first hole of the second segment, going from the rough off the tee to behind a bunker, but the pair did eventually earn a par to put the pressure on McIlroy and Scheffler. The PGA Tour had an opportunity to clinch it with a six-foot birdie putt for Scheffler, but Scheffler missed. Through one hole in the second segment, it’s all knotted up. LIV Golf must win this segment to have any hope of winning the prize.

McIlroy might have the hottest putter on the planet

After a terrific second shot by Bryson DeChambeau put him mere feet away from the pin, McIlroy rose to the occasion, opting for the ol’ Texas wedge from way off the green. McIlroy drilled it, earning him an eagle, and putting the pressure on DeChambeau to nail his putt.

DeChambeau lipped it left, and the PGA Tour (or solely McIlroy) won the first six-hole segment of the event in just four holes with a 3-hole lead with only two to play. The golfers will skip holes 5 and 6, jumping straight to 7 for the second segment, where each team will alternate shots.

Koepka lands in the water

LIV Golf’s comeback attempt hit another hurdle on the fourth hole as Koepka teed off into the water on the left side. Hole No. 4 is a Par 5, giving Koepka an opportunity for an up-and-down with two fantastic shots, but the odds of him making a difference here are slim.

It appears up to DeChambeau to keep LIV Golf in the running for the first segment of this event.

Hole 3 is a tie

After the PGA Tour pair won each of the first two holes, Hole 3 went to neither group, making the odds of a LIV Golf comeback all the more improbable with only three holes to play.

LIV Golf had an opportunity to win the hole with a birdie putt from DeChambeau, but it was left just right, enabling McIlroy and Scheffler to putt for par and earn a push.

Crew mentions DeChambeau/Koepka feud

During the third hole, as the golfers walked to their shots, the TV crew and Koepka were poking fun at DeChambeau’s big coat, saying that it looked big enough to fit both DeChambeau and Koepka. Afterwards, the crew mentioned that while DeChambeau and Koepka are ‘good now,’ perhaps hopping in the same coat would be too much. For casual golf fans, that statement may have been confusing. But for folks who have followed golf over the last few years, the pair’s feud was sure to be brought up at some point during the night. Here’s a quick explainer:

Emotions between DeChambeau and Koepka started running high after Koepka criticized DeChambeau’s play at the 2019 Dubai Desert Classic. The pair continued taking subtle jabs at one another throughout the 2020 season, with the most viral moment coming after Koepka appeared visibly annoyed with DeChambeau after the latter walked through the former’s interview and said something that the cameras couldn’t pick up, but Koepka clearly heard. Their feud came to a head in 2021 after DeChambeau was showered with ‘Brooksie’ chants throughout the PGA Tour season. It got so bad that the PGA Tour itself had to get involved, threatening to eject fans who taunted DeChambeau.

Their differences have reportedly been squashed since, and the pair’s decision to each sign with LIV Golf certainly helped them look past their grievances.

McIlroy birdies again to give PGA Tour 2-hole lead

With only six holes in the match play segment of this event, Rory McIlroy is putting the PGA Tour on his back, giving them an almost insurmountable two-hole lead after two holes. He’s now birdied twice in a row and reminded everyone why you should never doubt Rory in match play.

McIlroy birdie clinches first hole for PGA Tour

After both LIV and Scheffler parred the first hole, the pressure was on McIlroy to win the hole for the PGA Tour. McIlroy is not known for his clutch gene, but he came up big on this occasion, drilling the putt for the early lead.

As a reminder, only the first six holes will be match play. The following six will be alternating shots, while the final six will be singles.

LIV Golf competitors fail to hit green

After Scheffler was the only golfer to miss the fairway off the tee, the PGA Tour golfers bounced back on their second shots, each of them hitting the green.

The same can’t be said for the LIV duo. Koepka’s shot bounced over the back of the green, just off the edge in the rough, while DeChambeau’s shot fell short.

Sheffler/McIlroy tee off first

After a coin toss on the first tee, it was revealed that the PGA Tour team of Scottie Scheffler and Rory McIlroy would have honors to start the event.

Scheffler took the first shot ahead of McIlroy, and smoked an iron onto the right side rough, just off the fairway. Shadow Creek Golf Course is a notoriously narrow course, so we should expect to see a lot more play out of the thick stuff as the event unfolds.

That said, Scheffler was the only player not to hit the fairway off the first tee.

What time is The Showdown golf match?

The Showdown golf event will be broadcast on TNT, and coverage will start at 6 p.m. The actual time to tee off has not yet been announced.

How to watch The Showdown on TV and streaming

  • Date: Tuesday, Dec. 17
  • Time: 6 p.m. ET
  • TV: TNT
  • Streaming: MAX, Sling
  • Location: Shadow Creek golf course in North Las Vegas, Nevada

Catch The Showdown on TNT with a Sling subscription

Who is playing in The Showdown?

Bryson DeChambeau, the 2024 U.S. Open champion, will team up with former rival Brooks Koepka, a five-time major winner, to represent LIV Golf. On the other side, 2024 Masters champion Scottie Scheffler will compete with four-time major champion Rory McIlroy, representing the PGA Tour.

Scheffler, who won the 2022 and 2024 Masters tournament, is the world’s No. 1 ranked golfer and just won PGA Tour Player of the Year in a landslide vote. McIlroy, currently ranked No. 3, won the PGA Champonship in 2012 and 2014, the U.S. Open in 2011 and the British Open in 2014.

DeChambeau won the U.S. Open earlier this year after winning it for the first time in 2020. Koepka has won the PGA Championship three times (2018, 2019 and 2023) and the U.S. Open twice (2017 and 2018). But it could be a large hill to climb for DeChambeau and Koepka to stand a chance. The pair currently rank 10th and 86th, respectively.

Who will TNT have announce The Showdown broadcast?

This will indeed be a lively event as the network is bringing on familiar faces from ‘Inside the NBA.’ Ernie Johnson will be alongside Charles Barkley to call the action. As for commentary from the course, two-time Masters champion Bubba Watson will be alongside Lauren Jbara. The broadcast also gets a boost with experts Trevor Immelman and David Feherty.

The Showdown odds: Betting moneyline for golf match

Odds via Draftkings.

  • Scottie Scheffler/Rory McIlroy: (-155)
  • Bryson DeChambeau/Brooks Koepka: (+125)

The Showdown match: Predictions and picks

Golfweek: Scheffer/McIlroy: -155

Riley Hamel writes, ‘This pick is pretty simple: one team has Scottie Scheffler, the other doesn’t. He’s on a different level than any other golfer on the planet at the moment, and he’s a gamer. He wants to win no matter what he’s competing in. I have a hard time seeing Scheffler and McIlroy losing this match, but it is Vegas — anything can happen.’

Kristopher Knox writes, ‘McIlroy hasn’t been as consistent this year, but he’s still ranked third in the World Golf Rankings. DeChambeau and Koekpa are both elite golfers with Majors wins on their resumes. However, it’s hard to envision anyone unseating Scheffler, even in a team event.’

Iain MacMillan writes, ‘I’m going to lean with the favorites in the Showdown almost solely due to their recent form. Both Rory McIlroy and Scottie Scheffler are fresh off wins ahead of Tuesday’s event. McIlroy won the DP World Tour Championship last month and Scottie Scheffler captured his ninth victory of 2024, winning the Hero World Challenge. Not only is the No. 1-ranked golfer in the world coming off his win, but his new claw grip led to his best putting performance of the year. If his putting becomes a strength of his, he’s going to be near invincible.’

When is the tee time for The Showdown?

What is the format for The Showdown?

Although most renditions of The Match are 12 holes long, this battle between the PGA Tour and LIV will be a full 18. Those 18 holes will be divided into three sections of six, with the first six being best ball, holes 7-12 being alternate shot, and singles closing out the final six holes.

What is the prize money for The Showdown winners?

A whopping $10 million in prize money will be up for grabs, according a report last month by Front Office Sports. And, in a bit of a twist, it will be distributed to the participating golfers in the form of cryptocurrency.

Title sponsor Crypto.com said in a news release that the event will be ‘the first ever major golf tournament with a multimillion dollar purse to be paid in CRO cryptocurrency.’ (CRO stands for Cronos, which is the primary cryptocurrency of Crypto.com, a Singapore-based crypto exchange.) — Tom Schad

The Showdown location: Where is the match played?

The Showdown tees off from picturesque Shadow Creek Golf Course in North Las Vegas, Nevada. It is distinguished as the state’s premier public access course by Golfweek.

The Showdown course: Where does Shadow Creek rank?

The Showdown will put the spotlight on one of architect Tom Fazio’s best courses, Shadow Creek in North Las Vegas, Nevada.

Fazio has been one of the most prolific and successful golf course architects of the past 65 years, having either created or renovated 47 of the top 200 Golfweek’s Best modern courses in the United States. His work stretches coast to coast, showing his adaptability and willingness to move plenty of earth to create holes, as he did at Shadow Creek.

Golfweek cited Shadow Creek as one of Fazio’s 20 highest-rated traditional U.S. courses in our its Best rater program, ranking it No. 2. See the full rankings here.

We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an affiliate fee. USA TODAY Network newsrooms operate independently, and this doesn’t influence our coverage.

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The show must go on, as the old adage says. Amid the now annual handwringing over players and coaches on the move, there remain timeslots to fill with sporting product. And so, for better or worse, the college football bowl season rolls on.

Wednesday features a pair of postseason contests in warm-weather locales, which was after all the original draw for these postseason exhibitions. First up is a clash of programs that were in the hunt for group-of-five league titles for much of the season. Then the nightcap features the second ranked team to take the field during the bowl season.

Here are today’s matchups.

Boca Raton Bowl – James Madison vs. Western Kentucky

Time/TV/location: 5:30 p.m. ET, ESPN, Boca Raton, Fla.

Why watch: It’s easy to forget that JMU is still relatively new to the Bowl Subdivision. The Dukes took a minor step back this year in coach Bob Chesney’s first season but can still earn a program milestone with their first bowl win. South Florida is a familiar destination for the Hilltoppers, who have won this event on two other occasions. Western Kentucky QB Caden Veltkamp is expected to play even though his name is in the transfer portal, though a lot of his teammates that helped get the Toppers to the C-USA title game won’t be around. The Dukes will be shorthanded as well with QB Alonza Barnett out with an injury, so they’ll likely lean heavily on RBs George Pettaway and Wayne Knight.

Why it could disappoint: JMU could be at a considerable advantage with a more cohesive roster. But WKU’s bowl history has often come with a dose of wildness, like last year when the Toppers mounted a 21-point comeback in the fourth quarter to beat Old Dominion, so anything is possible.

ON THE MOVE: Ranking the top quarterbacks in the transfer portal

LA Bowl – No. 24 UNLV vs. California

Time/TV/location: 9 p.m. ET, ESPN, Inglewood, Calif.

Why watch: The good news for UNLV with coach Barry Odom off to Purdue is that he at least made the job attractive enough to interest a free agent like Dan Mullen with a proven track record. Before he takes over, however, the Rebels will be led by interim coach Del Alexander in this matchup with the Golden Bears, who will be in a transition phase themselves with QB Fernando Mendoza in the portal. UNLV should have most of its key on-field personnel available, including QB Hajj-Malik Williams and WR Ricky White as well as top RB Jai’Den Thomas. California’s leading WR Nyziah Hunter is also in the portal along with Mendoza, so either CJ Harris or Chandler Rogers will likely be handing the ball off a lot. The good news for the Bears is RB Jaydn Ott might finally be at full speed after battling ankle issues for much of the season.

Why it could disappoint: California did win all its non-conference games but went just 2-6 in its first run through the ACC. If the Rebels view this as an opportunity to make a statement, it could be a long night for the Bears.

This post appeared first on USA TODAY

The price of tin rose to a year-to-date high of US$35,575 per metric ton in April on a series of supply and demand factors from the top tin-producing countries.

Despite declining in the second half of the year, prices appear to have found a bottom around the US$28,000 per metric ton level.

Improved semiconductor sales and growing investments in electric vehicles and solar panels are expected to fuel demand. Supply constraints in Myanmar and Indonesia, two major producers, led analysts at BMI Research to revise their 2024 tin price forecast upward to US$30,000 per metric ton.

Tin remains essential for renewable energy generation and electronics, with nearly half of its use in soldering applications critical for semiconductors, mobile phones, and electric cars.

Overall, analysts project a bullish long-term outlook, with tin prices potentially reaching US$45,000 by 2033 as global demand continues to rise.

To give investors a better idea of the tin supply landscape, we’ve put together a list of 2023’s top tin producers by country, based on data from the US Geological Survey.

Read on to learn more about those countries and their contributions to the tin industry.

1. China

Tin production: 68,000 metric tons
Tin reserves: 1.1 million metric tons

China was the world’s top tin-producing country in 2023, with output totaling 68,000 metric tons. It continues its streak as the world’s largest tin-producing country despite a gradual year-on-year decline, down from 2022’s 71,000 MT.

China also holds the largest tin reserves in the world, with more than 1.1 million metric tons.

Currently, China is embroiled in a trade war with the US as political tensions continue to mount. In December 2024, the trade giant China set new US export restrictions on essential minerals, including gallium, germanium and antimony. Analysts speculate that the export curb list will soon include tin, as both countries are determined to cut off each other’s dominance in specific production sectors.

2. Myanmar

Tin production: 54,000 metric tons
Tin reserves: 700,000 metric tons

Myanmar, also known as Burma, produced 54,000 metric tons of tin in 2023, leapfrogging over Indonesia to become the world’s second-largest tin-producing country last year. The Asian country garnered the largest increase in tin production, up significantly from 47,000 MT in 2022.

Myanmar’s self-administered Wa state is home to the majority of the country’s tin output, including the Man Maw tin mine, which is one of the world’s top-producing tin mines.

In April 2023, the Wa state declared that mining operations within its jurisdiction would be suspended starting in August to conserve mineral resources while awaiting an audit of the tin industry and the implementation of new mining regulations.

By August, all activities related to mining, processing and the transport of raw ore had been halted in the state. The Man Maw’s failure to restart operations in August 2023 due to the ban instituted by the Wa militia has impacted industry prices throughout the year. As of September 2024, mining at Man Maw was still suspended, although many smaller tin mines The tin audit has greatly limited tin imports to China and Indonesia, driving prices upward due to lower metal concentrates.

3. Indonesia

Tin production: 52,000 metric tons
Tin reserves: Not available

Indonesia’s tin production came in at 52,000 metric tons in 2023. After coming within touching distance of first place the year before with tin production of 70,000 MT to China’s 71,000 MT, in 2023 Indonesia conceded its runner-up spot to Burma. Contrary to Burma’s production surge, the country recorded the steepest production dip in 2023.

Last year, Indonesia’s Ministry of Energy and Mineral Resources designated tin as a critical mineral, recognizing its supply importance, economic value and role in high-tech applications.

4. Peru

Tin production: 23,000 metric tons
Tin reserves: 130,000 metric tons

Peru also saw its tin output decline last year, when the country’s total tin production was 23,000 metric tons, a drop from 2022’s 28,200 MT. The South American country was the primary supplier of tin to the US last year.

Peru-based miner Minsur operates the San Rafael tin mine in the country. San Rafael is one of the world’s largest tin mines.

5. Democratic Republic of Congo

Tin production: 19,000 metric tons
Tin reserves: 120,000 metric tons

The Democratic Republic of Congo produced 19,000 metric tons of tin in 2023, a slight increase in its production compared to 2022’s 18,600 MT.

Alphamin Resources (TSXV:AFM,OTC Pink:AFMJF) operates the Bisie tin complex, which hosts the world’s two highest-grade tin mines, Mpama North and the recently constructed Mpama South. The company is ramping up production at the operation following an expansion that will raise annual output to 20,000 MT.

6. Brazil

Tin production: 18,000 metric tons
Tin reserves: 420,000 metric tons

Brazil’s tin production totaled 18,000 metric tons in 2023, registering a slight year-over-year increase from 17,000 MT. Since its production uptick in recent years, Brazil remains as a mainstay among the world’s top tin producers.

This year, Peruvian miner Minsur agreed to sell its Brazilian subsidiary Mineração Taboca, which operates the Pitinga tin mine and Pirapora smelter in Brazil, to China Nonferrous Trade (OTC Pink:CNFMF,HKEX:1258) for US$340 million.

Taboca, the largest tin producer in Brazil, contributed over a third of the country’s refined tin production in 2023 and is Brazil’s only fully integrated tin producer. The Pitinga mine in the Amazon holds the world’s largest tin resource by tin content, with reserves of 279,000 MT expected to sustain production for at least 30 years.

6. Bolivia

Tin production: 18,000 metric tons
Tin reserves: 400,000 metric tons

Bolivia makes the list tied with Brazil at 18,000 metric tons of tin production in 2023.

Bolivia’s state-owned Vinto smelter declared force majeure in March 2023 due to coal shortages from Peru, resulting in weekly production losses of up to 200 MT of tin.

Further compounding the issue, Vinto did not receive concentrate from the country’s Huanuni and Calquiri mines for over two months due to US$90 million in outstanding debts, leading to protests by miners in La Paz who wanted the debt cancelled.

8. Australia

Tin production: 9,100 metric tons
Tin reserves: 620,000 metric tons

Australia’s tin output for 2023 remained relatively untouched at 9,100 metric tons, just a slight increase from 2022’s 9,000 MT.

Australian tin producer Metals X (ASX:MLX) has invested AU$4.64 million in First Tin (LSE:1SN) this year, acquiring a 23 percent stake to support tin development projects in Australia and Germany.

Metals X, co-owner of the Renison mine in Tasmania, aims to leverage its operational expertise to accelerate First Tin’s Taronga project in New South Wales, which targets production by 2027 following a strong feasibility study.

9. Nigeria

Tin production: 8,100 metric tons
Tin reserves: Not available

Nigeria follows the trend of incremental production increases year by year, increasing by 15.71 percent or 8,100 MT from 2022’s 7,000 MT mark. Nigeria’s Plateau State, home to the country’s largest tin reserves, has witnessed a resurgence in mining activities as global tin prices rose above US$30,000 per metric ton in 2024, up from US$5,000 in the early 2000s.

Despite this boom, the sector remains largely unregulated, with artisanal and illegal mining dominating production and contributing little to government revenue. Between 2018 and 2022, Nigeria’s solid minerals sector, which includes tin, contributed a mere 0.17 percent to the nation’s GDP, according to the National Bureau of Statistics (NBS).

10. Malaysia

Tin production: 6,100 metric tons
Tin reserves: Not available

Rounding out the list of the world’s top tin-producing countries for 2023 is Malaysia, which produced 6,100 metric tons last year, up from 2022’s 5,000 MT.

Malaysia Smelting (KLSE:MSC), the second top tin-producing company in the world, is poised to benefit from bullish tin forecasts, as the century-old company has posted above-expected margins in the second and third quarter of 2024.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Competition in the artificial intelligence (AI) sector escalated dramatically in 2024, with major tech companies investing billions in a race to research and develop advanced AI technologies.

This surge in investment spurred rapid advancements, fierce competition and a wave of innovation that has the potential to reshape the technological landscape moving forward.

Competition heats up among AI heavyweights

As mentioned, major tech companies jumped headfirst into AI in 2024.

For its part, Google (NASDAQ:GOOGL) began the year by rebranding its Bard chatbot as Gemini. The February decision streamlined its AI products under a single brand, showcasing a move toward a more sophisticated and unified AI experience. Its newest interaction, Gemini 2.0, was released on December 11.

Meanwhile, Microsoft (NASDAQ:MSFT) deepened its partnership with OpenAI, investing another US$750 million during an October funding round worth US$6.6 billion. This latest round brought the company behind ChatGPT to a total valuation of US$157 billion. According to SEC filings, Microsoft’s total investment in OpenAI has now reached US$13 billion.

NVIDIA (NASDAQ:NVDA), SoftBank (TSE:9434) and a handful of venture capital firms also participated in the round, but under the stipulation that OpenAI shift control of its dealings to a for-profit arm.

This sparked rumors that a potential initial public offering on the horizon.

Apple (NASDAQ:AAPL), notably missing from the list of investors who participated in OpenAI’s October funding round, has opted for a more independent path, focusing on internal AI development.

At its annual developer conference from June 10 to 14, it unveiled Apple Intelligence for iOS18, saying it was coming to iPhone 16, iPadOS 18 and macOS Sequoia users. However, the company also shared plans to integrate ChatGPT in some products, like its voice-activated assistant Siri, as a supplemental layer on top of Apple Intelligence.

Apple performance, January 1 to December 17, 2024.

Chart via Google Finance.

The company’s share price gained almost 8 percent by the end of the conference.

Apple Intelligence was released for qualifying models on October 28, and the newest software update, including ChatGPT for writing tools and Siri, was released on December 11.

OpenAI itself released GPT-4o on May 13, saying that it was optimized for multimodal tasks like analyzing audio and video. Later in the year, on September 12, the company previewed its first o1 model. OpenAI’s o1 series is designed to spend more time “thinking” before it responds and possesses advanced reasoning skills.

However, shortly after the model was released, The Information reported that o1 showed a slower rate of improvement compared to previous models, exposing potential limitations to continuous advancements in AI capabilities.

Amazon (NASDAQ:AMZN), while less focused on consumer-facing AI products, invested heavily in building out its cloud infrastructure and allocated another US$4 billion to AI research company and OpenAI rival Anthropic on November 22. This brings Amazon’s total investment in Anthropic to US$8 billion. As part of this expanded partnership with Amazon, Anthropic also made Amazon Web Services its primary cloud provider.

Meta (NASDAQ:META) focused on integrating generative AI across its platforms in 2024, leading to enhancements like better ad targeting and content recommendations. The company also released the MTIA v2 chip, an improved version of its AI inference chip that is designed to handle the massive amount of data generated by Meta’s customer base. The newest version of Meta’s open-sourced large language model, Llama 3, was released on April 18.

Elon Musk’s AI company, xAI, upgraded its large language model Grok-2. A beta version of Grok-2 was released on August 13 and was made available to all X users on December 12. Grok-2 was trained on xAI’s supercomputer Colossus, which is powered by 100,000 NVIDIA graphics processing units (GPUs) and came online on September 11. The company held two US$6 billion funding rounds in 2024, and as of November 28 was valued at a staggering US$50 billion.

Hardware is king

Vertical integration gained momentum in 2024 as companies invested in more parts of the chip-making process.

NVIDIA maintained its dominance, attracting attention with outstanding earnings seasons and intermittently earning the title of the world’s most valuable company. The company set the stage for exponential further growth when it introduced its Blackwell architecture at the GPU Technology Conference in March.

However, the company has faced unexpected design hurdles that have delayed the debut of Blackwell GPUs. While no official release date was set, it was widely speculated that they would be available towards the end of 2024. A progress update will reportedly be announced at the Consumer Electronics Show in January.

NVIDIA performance, January 1 to December 17, 2024.

Chart via Google Finance.

Advanced Micro Devices (AMD) (NASDAQ:AMD), NVIDIA’s most direct competitor, reported a 9 percent increase in revenue in Q2, driven by its MI300X AI chip. MI300X combines GPU and central processing unit capabilities into a single chip, giving a leg up over NVIDIA, which designs both chips separately to work together.

Also in 2024, AMD collaborated with a handful of software and hardware companies to develop a new AI accelerator standard that is capable of challenging NVIDIA’s NVLink.

2024 presented chip designers with a challenge as customers like Apple and Google increasingly moved chip design in-house. Made by Taiwan Semiconductor Manufacturing Corporation (TSMC) (NASDAQ:TSM), Apple’s A- and M-series chips feature a neural engine to enable on-device AI and powered a slew of new products released this year.

Google released its Tensor G4 chip, designed in collaboration with Broadcom (NASDAQ:AVGO) and manufactured by TSMC. The G4 chip powers Google’s refreshed lineup of Pixel devices, released on August 13.

The shifting trends resulted in TSMC emerging as an undisputed victor. The company reported outstanding revenue and profits in 2024, fueled by a surge in demand for powerful chips and its advanced manufacturing technologies.

Its share price hit an intraday high of US$211.93 on October 17 following its Q3 results, and it recorded an all-time high closing share price of US$205.19 that same day.

According to a December 9 report by Taipei-based market intelligence provider TrendForce, TSMC increased its share of the wafer foundry market to 65 percent in the third quarter.

TSMC performance, January 1 to December 17, 2024.

Chart via Google Finance.

Another chip company, Broadcom, successfully navigated 2024 by diversifying into software through its acquisition of VMware. Broadcom, which plays a crucial role in the semiconductor industry by designing and manufacturing chips that enable the realization of software objectives, reported record revenue for its 2024 fiscal year,

The rise was driven by strong demand for its semiconductor products and the successful integration of VMware. The company’s AI-related revenue more than tripled, and its quarterly dividend rose by 11 percent.

In contrast, Qualcomm (NASDAQ:QCOM), which remained largely focused on the hardware market this past year, appeared more vulnerable to the industry’s shifting tides.

Even industry giants like Intel (NASDAQ:INTC) faced their share of turbulence. While its foundry business struggled, Intel’s computer parts division did well, with its Core Ultra processors powering a lineup of AI-enabled laptops from Microsoft and Dell (NYSE:DELL). Dell also pushed into hybrid solutions and edge computing with its APEX portfolio.

Broadcom, Qualcomm and Intel performance, January 1 to December 17, 2024.

Chart via Google Finance.

AI hype pays dividends for tech giants

Despite a notable pullback in Q2 and Q3 due in part to investor concerns about the long-term returns of massive AI investments, 2024 was a year of strong financial performances for tech giants, as evidenced by their dividend payouts.

Meta announced cash dividend payments in May and September, while in Microsoft said in September that it would reward shareholders with a 10 percent increase to its quarterly dividend payment.

Alphabet also issued quarterly dividends for the first time in 2024, distributing payments three times.

It’s worth noting that the initial surge in spending and subsequent pullback could have been influenced by a variety of factors, including hype cycles, macroeconomic conditions and evolving understandings of AI’s capabilities and limitations.

Investor takeaway

Ultimately, despite occasional fluctuations and concerns, investor confidence in the tech sector remained strong throughout 2024, with funding continuing to flow. As of mid-December, shares of Microsoft were up over 21 percent year-to-date, while Alphabet was up by over 44 percent and NVIDIA was up an astonishing 166 percent.

In 2024, the AI sector experienced rapid advancements and fierce competition, driven by substantial investments from tech giants. As the technology continues to mature, the stage is set for continued innovation and disruption, promising an exciting future for AI and its applications.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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