08262025 BUSINESS

By FAY SIMMONS Tribune Business Reporter

THE Government posted a $29.4 m surplus in May 2025, but remains more than $70 m off its full-year fiscal target.

The Ministry of Finance, in its latest fiscal report, said the May surplus marked a $10.7 million improvement over the same month last year, driven largely by reduced government spending.

However, with April’s deficit revised upward and the yearto-date shortfall still well above target, the pressure is mounting for the Government to rein in its finances before the fiscal year closes.

“Preliminary data on the fiscal outturn for May 2025 showed an estimated surplus of $29.4 m— an improvement of $10.7 m from the prior year,” said the report.

“In the underlying developments, the 4.3 percent ($12.2 m) reduction in revenue receipts to $268.2 m was offset by a 8.7 percent ($22.9 m) decrease in spending to $238.8 m.”

To meet the $69.8 m deficit cap set for the 2024/2025 fiscal year, the Davis administration

must now produce a $71.7 m surplus in June — a month that traditionally sees increased spending as ministries and departments rush to settle outstanding obligations

The report also confirmed that April’s fiscal performance had been revised downward. An earlier-reported $2.1 m deficit was adjusted to $4.4 m, more than doubling the original figure.

During his 2024/2025 budget contribution Prime Minister, Philip Davis forecasted a $135.4m surplus for the month of April. That estimate was met with sharp criticism from the Opposition when the Ministry later reported the month closed with a deficit — a figure now revealed to be even worse than initially reported.

The Ministry of Finance report for May revealed that tax revenue increased by 1.5 percent year over year or $3.4m to $237.9m due to an increase in VAT collections, expenditure fell by 7.1 percent and government debt grew by $72.3m.

“The $225.7 m in recurrent outlays for the month represented a decline of 7.1 percent ($17.2 m) from the corresponding period in the prior year. Key categories and movements are as follows: Subsidies decreased by $8.7 m to $11.2 m; and Other payments receded by $9.0 m to $16.3 m, mainly explained by timing difference for payments of insurance premiums. Capital expenditure declined by $5.6 m to $13.1 m,” said the Ministry of Finance report.

In response, the Ministry of Education and Technical and Vocational Training issued a statement addressing the union’s concerns and outlining steps being taken to resolve them.

“Tax revenue increased yearover-year by 1.5 percent ($3.4 m) to $237.9 m and included the following key contributors. Value Added Tax was higher by $18.7 m at $119.2 m, supported by gains in the goods and services component. Taxes on Financial & Capital Transactions increased by $4.4 m to $11.5 m. Taxes on Use & Permission to Use Goods were up by $2.6 m to $24.0 m. Taxes on Property were lowered by $11.4 m to $10.5 m as the prior year was boosted by arrears payments. Non-tax revenue declined by 34.0 percent ($15.6 m) to $30.3 m, reflecting lower receipts for interest and dividend related collections.

“During the review month, central Government’s debt outstanding grew by an estimated $72.3 m. The $224.4 m in proceeds from borrowings was solely derived from domestic currency sources. Aggregate debt repayment of $152.1 m was allocated between domestic (99.5 percent) and foreign (0.5 percent) currency obligation” May and June - are traditionally when the Government has run high deficits due to the fact

By ANNELIA NIXON Tribune Business Reporter

THE United Artists Bahamas Union (UABU) has hit out at a prominent hotelier as “unsupportive” of Bahamian entertainers qas they defend musicians against recent comments that “they have not reinvented themselves.”

UABU president Linc Scavella, blasted hotelier and senior vice president at Baha Mar, Robert ‘Sandy’ Sands, who claimed that musicians have aided in the downward spiral of the nightclub industry.

Mr Scavella said Mr Sands “has been a thorn in the side of musicians and entertainers for years.”

By FAY SIMMONS Tribune Business Reporter

THE Bahamas Educators Managerial Union (BEMU) withdrew their labour yesterday amid growing frustration over unresolved issues tied to their industrial agreement.

The union, which represents almost than 500 educators, said approximately 90 percent of its members participated in the action.

BEMU President Stephen McPhee raised concerns about outstanding allowances, reassignments to the Family Islands, and the safety and well-being of educators.

“There are a number of administrators who received reassignment letters to leave from one island to the next there’s been no provision made for them thus far for housing, there’s been no provision for airfare. We’re saying to them, how are these officers going to report?” said Mr McPhee.

The Ministry confirmed that clothing and transportation allowances will be paid directly to educators by early September, with arrears included. It also noted that nine outstanding reassignments were completed as of August 25, while confirmation matters for 37 officers remain under review.

“We believe in fairness, ensuring that officers receive what is due to them. We believe in transparency, providing clear timelines and updates on the issues raised. We believe in respect, treating educators and administrators not as adversaries but as colleagues whose contributions sustain the system that serves our nation’s children,” said the Ministry’s statement

Long Island airport expansion ‘vital’ for tourism, says resort boss

By ANNELIA NIXON

A LONG Island resort operator is clinging to hope that an improved airport and runway expansion will revitalize the tourism industry as she claims “the island is dead.”

Stating that Long Island’s tourism sector has taken a hit and is on a downward spiral, Jill Smith, operator of the Stella Maris said the island has been suffering of a lack of airlift for at least two years. She said the airport’s runway would need to be at least 6,000 feet in order for

“There’s one airport in Deadman’s Cay and one in Stella Maris, and both airports have the same runway

length right now, which is about 4,000 feet,” Ms Smith said.

“So in the plans calls for a new terminal, but we’re not so much interested in the new terminal. We’re interested in making sure that this runway is at least five or 6,000 feet. In the plans, it says 6,000 feet, and that’s what we’re wanting. We need more airlift, and we need airlift direct from the States. That’s the only way this island will survive. And so that’s what we’re all waiting for. They’ve done a little bit of clearing to Deadman’s Cay Airport, but that could also just be politics. Politics, we’re not quite sure. But yeah, the signing of the contract happened last month.”

As part of the Family Island Renaissance

Programme, the government has committed to revitalizing airports across the archipelago. A contract signing for a runway project at Deadman’s Cay Airport with Bahamas Hot Mix dating back to June, showcased promises from the government that Long Island’s airport will see a longer, wider and more resilient runway which will allow access for full aircrafts.

Ms Smith, noting that her resort had to close its door on July 15 “because of such terrible business” noted that difficulties of getting to the island have caused tourism numbers to decline.

“Right now, Bahamas Air has one flight to Long Island daily, only to Deadman’s Cay,” she said. “Sometimes that flight is

“It is in this spirit that the ministry confirms the following. The clothing allowance and transportation allowances owed to officers will be paid through direct payment in due course by early September, with arrears addressed. Nine outstanding reassignments were completed on 25 August 2025. Confirmation matters for thirty-seven officers remain under review and updates will be communicated directly to the union.”

The statement added that geographical allowances have already been paid, and remaining balances are being settled. The promotion exercise is still in progress and will be concluded “without delay.”

Addressing legal concerns, the Ministry referenced a court writ received in October 2021. Of the 160 matters tied to the case, 157

even shared with San Salvador. So we don’t even have the full seats. We never have the full seats anyway, because our runway is short and so because of the load, and they have to fuel in Nassau, because there’s no fuel in Deadman’s Cay, so they come to Long Island fully loaded.

“So on each flight, I mean, we had a meeting, but I can’t remember exactly, but let’s just say there’s 48 seats on Bahamas Air. Because of the short runway and the full fuel load, they’re only allowed maybe 38 seats, or 36 seats that they sell. So they never come to Long Island with the full flight anyway, because of load restriction. And as you could imagine, that flight is always full. “And so when tourists come to book three weeks ahead of time, four weeks ahead of time, because of the local business already, and locals blocking and booking the flight, there’s

“I said that because of his comments and saying that musicians and entertainers have contributed to the demise of the nightclubs and entertainment industry, etc,” he said.

Adding that he “has not done anything to help to uplift the music industry, including while he’s working in Baha Mar... He has been a thorn in the side of musicians and entertainers for years.

“We are going to address all of his comments and also reveal to the public, things that he has done over the years, with regards to the industry. He had brought in a number of foreign artists back in the day. I personally had to stop one of them, that was Smokey Robinson, because he did not want to use a Bahamian opening artist. He’s not concerned about Bahamian musicians at all. And so from that time, he was not concerned.

“I was secretary general of the other union at the time, and me and my assistant told him to go fly a kite

UABU president dismisses claims artists aided ‘downward spiral’ of clubs

MUSICIANS - from page B1

because we also wanted a Bahamian artists, to get the experience of the exposure of opening with the international artists. And so we told him to take his money and go fly a kite. And as a result, we end up stopping that concert. And they did it a couple of months later, after they came back and did it the way we wanted it to be done, where they used the Bahamian artist. But we stopped the concert. I led the charge in that.”

Mr Scavella pledged to “deal” with persons and companies who do not prioritize Bahamian musicians and entertainers, especially

‘Island

when inviting a foreign artist to perform in the country.

“He’s saying that they need to reinvent themselves. The record will show that over the past years, a number of new Bahamian artists come to the front- a number of them... All these new artists, they came to the forefront. And so to him, it ain’t make no difference, because they’re not working in the hotel where he’s at.

“One of the things we’re going to do, we’re going to let people like Sandy Sands know that The Bahamas is first for Bahamians.

who engage in illegal activity.

his comments. We will fix him with regards to that, because he will not go out in a blaze of glory should he be getting ready to retire, with those kind of comments.”

“Once they are qualified and available, and we going to let him and everyone else know that, including Atlantis, all of them who are bringing in these influx of foreign musicians and entertainers, and don’t want to use Bahamian artists as opening acts and what’s not, we’re going to deal with them.

“It’s only a matter of time. And so he showed his head with regards to

“And so whenever they bring in their foreign artists, they should include, or already have Bahamian artists working in their facilities, but all the jobs in The Bahamas belongs to Bahamians. All belong to Bahamians. Bahamians are first.

is dead’ and on downward spiral

EXPANSION - from page B1

“So we have two charter companies, Island Wings and Stella Maris Resort Air Service, that service Stella Maris,” Ms Smith said.

Mr Sands who asserted that musicians “have not reinvented themselves to adjust to the ever-growing changing demands of our traveling public” believes this is what has been “the downfall of that industry.”

While defending Bahamian musicians and entertainers, Mr Scavella clarified that he and his union are not against foreign artists coming into the country to perform. He said his issue lies with promoters

but still, it’s just a drop in a bucket.

“We do not have any vendetta against foreign artists because they are artists like us,” Mr Scavella said. “We don’t have anything against those foreign artists and they do not have anything against us. They, for the most part, agree with what we are doing when people are bringing them in illegally- the foreign artists. We speak with them and their unions in the United States. They practically agree with us, because they know that we cannot do the same thing when we travel into their countries.

“What we are against is the applicants or the promoters who are doing it, not the foreign artists. We have nothing against foreign artists. It is the promoters who think that, because they know the prime minister

or the prime minister may be a relative, or whatever it is, they feel that they can do what they feel like. We say no to that. We have nothing against foreign artists. We are all artists, and we have the same issues. If Baha Men goes to the United States to do a gig, 30 percent of their contract goes to Uncle Sam. Meaning, if they make $1,000 or $100,000 30 percent is deducted from the top, plus they pay their union dues to the union over there. And so when they come here, all we saying is to the promoters, you will do the same thing, because you are applying to bring them in. So you have to cause them to act in accordance with our requirements and policies and the laws of the Immigration Department. That’s all we’re saying to them.”

Pressure mounts to reign in spending

She said Makers Air will add another flight this season but the charter companies that service Long Island are still not adequate.

no availability for tourism and it just gets too difficult. They get frustrated, and then they pick something where there’s more seats available. You go on the internet. You know how it is nowadays. Nobody wants to call a resort. Everything is done online. And if you don’t see availability online for Long Island or Deadman’s Cay, none for Stella Maris, you go elsewhere.”

Asian shares decline following Wall Street’s dip

By YURI KAGEYAMA AP Business Writer

ASIAN shares fell across the board Tuesday, taking their cue from a broad decline on Wall Street that reversed some of the big gains notched last week on hopes for interest rate cuts from the Federal Reserve.

Japan’s benchmark Nikkei 225 dove 1.1% in morning trading to 42,342.28. Australia’s S&P/

ASX 200 declined 0.3% to 8,949.40.

South Korea’s Kospi lost 0.8% to 3,184.70 after data showed improved consumer sentiment, strengthening expectations that the central bank won’t move on interest rates. Hong Kong’s Hang Seng shed 0.2% to 25,766.68, while the Shanghai Composite slipped 0.1% to 3,878.24. On Wall Street, the S&P 500 fell 0.4% Monday, but

“We have a nine seater and a six seater, so that’s 15 seats a day, but that’s just a drop in the bucket. Island Wings has nine seats. Makers Air, last season had two flights a week into Long Island, which helped. But again, that’s only like 14 seats twice a week. This next season, they’re going to offer even a third flight, which is good news for us,

remains near its all-time high. The Dow Jones Industrial Average closed 0.8% lower after setting a record high on Friday. The Nasdaq composite closed 0.2% lower. Selling was widespread, with health care stocks among the biggest drags on the market. Pfizer fell 2.9% and Eli Lilly and Co. slid 2.3%. Gains for several big technology stocks helped temper the market’s losses. Alphabet, Google’s parent company, rose 1.2%. Technology heavyweight Nvidia rose 1%. Treasury yields rose in the bond market following

“So what Long Island has really suffered from the last two years is the loss of Southern Air, which was 18 seats twice per day from Nassau, a morning flight and afternoon flight, . They didn’t have planes and had maintenance issues for two years, and nobody else bothered to take up the route. And so those were scheduled flights that people could book. So all of that just escalated into this huge downward spiral for Long Island.”

their big drop on Friday amid expectations that the Fed will cut its benchmark interest rate in September. The yield on the 10-year Treasury rose to 4.28% from 4.25% late Friday. The two-year Treasury yield rose to 3.73% from 3.70% late Friday. Wall Street is still overwhelmingly betting that the Fed will cut interest rates at its next meeting in September. Traders see an 84% chance that the central bank will trim its benchmark rate by a quarter of a percentage point, according to data from CME Group. In the latest news related to the Federal Reserve, President Donald Trump said he’s firing Lisa Cook,a member of the Federal Reserve’s board of governors, amid mortgage fraud allegations, opening a new front in the fight over America’s central bank.

SURPLUS - from page B1

that the Ministry of Finance is presented with bills and IOUs which it often knows nothing about by ministries, departments and agencies eager to clear liabilities before the fiscal year-end.

The Fiscal Responsibility Council (FRC)’s Annual Budget revealed the Davis administration must

generate a $96.6 m fiscal surplus in the fourth quarter of the 2024/2025 fiscal year in order to meet its targeted overall fiscal deficit of $69.8 million. The Opposition said the Council’s findings “confirmed” the FNM’s concerns about April’s $137m deficit swing and accused the Davis administration of being “careless” with the public purse.

Growing frustration over unresolved issues and safety

UNION - from page B1

have been resolved, with only three still outstanding.

“The promotion exercise continues and will be concluded without delay. Legal matters connected to a court writ that the Ministry of Public Service received in October 2021 have been advanced as follows. A total of 160 matters were received. Of these, 157 have been completed, with only 3 matters remaining outstanding,” said the Ministry’s statement.

“The Bahamas Educators Managerial Union continues to receive

communication from the Ministry of Public Service on these matters as they are being actively addressed. Health and safety concerns at the Ivy Dumont Building are also being addressed. In the meantime, staff assigned to the building continue to work remotely to ensure their well-being. A further update will be provided to the union on 29 August 2025. Geographical allowances have already been paid, with any remaining balances being settled. Progress is being made, and more work remains. The ministry has not stepped away from these responsibilities and will not do so.”

STOCKS SLIP ON WALL STREET AFTER LAST WEEK'S RALLY

By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers

STOCKS on Wall Street closed broadly lower Monday, giving back some of the big gains the market notched last week on hopes for interest rate cuts from the Federal Reserve.

The S&P 500 fell 0.4% and remains near its alltime high. The Dow Jones Industrial Average closed 0.8% lower after setting a record high on Friday. The Nasdaq composite closed 0.2% lower.

The selling was widespread, with health care stocks among the biggest drags on the market. Pfizer fell 2.9% and Eli Lilly and Co. slid 2.3%.

Gains for several big technology stocks helped

temper the market's losses. Alphabet, Google's parent company, rose 1.2%. Technology heavyweight Nvidia rose 1%.

Treasury yields rose in the bond market following their big drop on Friday amid expectations that the Fed will cut its benchmark interest rate in September. The yield on the 10-year Treasury rose to 4.28% from 4.25% late Friday. The two-year Treasury yield rose to 3.73% from 3.70% late Friday.

"Markets are just digesting Friday's news and kind of the increasing odds that we're going to see a September rate cut from the Fed," said Anthony Saglimbene, chief market strategist at Ameriprise.

Wall Street is still overwhelmingly betting that

CRACKER BARREL SAYS

the Fed will cut interest rates at its next meeting in September. Traders see an 84% chance that the central bank will trim its benchmark rate by a quarter of a percentage point, according to data from CME Group.

The Fed has been maintaining rates at their current level since the end of 2024 amid worries about inflation heating up as tariffs work their way through the economy to businesses and households.

The central bank has grown increasingly concerned about the state of the job market in the U.S. Its two main focuses are keeping inflation low and supporting conditions for strong employment.

Recent signals have shown that the job market is seemingly stagnating and

could possibly weaken, which could prompt the central bank to cut rates. Lower interest rates make borrowing easier, helping to spur more investment and spending, but that could also potentially fuel inflation.

So far, consumer confidence remains mostly solid, though concerns about inflation linger. Wall Street and the Fed will get an update on consumer confidence in the U.S. when

IT "COULD'VE DONE A BETTER JOB" WITH RELEASE OF NEW LOGO THAT ANGERED SOME FANS

By DEE-ANN DURBIN AP Business Writer

CRACKER Barrel is sticking with its new logo but apologizing to fans who

were angered when the change was announced last week.

"If the last few days have shown us anything, it's how deeply people care about

PUBLIC NOTICE

C B PO

The Public is hereby advised that I, YVONNE EVELYN KING-ANDERSON of Freeport, Grand Bahama, The Bahamas, intend to change my name to YVONNE EVELYN STRACHAN If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Offcer, P.O.Box , assau, Baha as no later than thirty days after the date of publication of this notice.

PUBLIC NOTICE

The Public is hereby advised that I, KEYSHAWN KENDAL FERGUSON of Freeport, Grand Bahama, The Bahamas, intend to change my name to JADE BOSTWICK If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Offcer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice. INTENT TO CHANGE NAME BY DEED POLL

Cracker Barrel. We're truly grateful for your heartfelt voices," the company said Monday in a statement on its website. "You've also shown us that we could have done a better job sharing who we are and who we'll always be."

Cracker Barrel took heat last week when it announced a simplified logo featuring only the chain's name. Gone was the picture of an older man in overalls leaning against a barrel.

The words "Old Country Store" were also removed. The change was part of a wider rebrand, which has seen Cracker Barrel update its cluttered, antique-filled restaurants with lighter paint and modern furniture. Many on social media, including Donald Trump Jr., criticized the new logo, with some threatening to boycott unless it was changed back. Sensing an opening, the rival chain Steak n' Shake called the new logo

business group The Conference Board releases its monthly survey for August on Tuesday. Economists expect overall confidence to remain mostly unchanged from July.

The bigger update will come on Friday, when the government releases an inflation report that is closely monitored by the Fed. An update on inflation earlier in August showed that consumer prices remained modestly

"a cheap effort to gain the approval of trend seekers."

"Heritage is what got Cracker Barrel this far, and now the CEO wants to just scrape it all away," Steak n' Shake said in a statement on X.

Cracker Barrel shares have dropped more than 10% since the new logo was introduced on Aug. 18.

On Monday, the Lebanon, Tennessee-based company emphasized that many things about Cracker Barrel won't change, including the rocking chairs on its front porches and vintage Americana and antiques scattered throughout its restaurants.

higher in July, compared with a year ago. The government's report on Friday, the personal consumption expenditures price index, is expected to show a similar result.

Economists expect the PCE to show that prices rose 2.6% in July, compared with a year ago. That's unchanged from the rate in June and hovering just above the Fed's preferred target of 2%.

Cracker Barrel also said it will continue to honor

Uncle Herschel — the older man in the former logo, who represents the uncle of Cracker Barrel's founder — on its menu and on items sold in its stores.

But Cracker Barrel said it also wants to make sure that the business stays fresh and attracts a new generation of customers.

"That means showing up on new platforms and in new ways, but always with our heritage at the heart," the company said in a statement.

The company said it will also keep testing, learning and listening to its employees and customers.

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act 2000, notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certifcate of Dissolution issued by The Registrar General on the 22nd day of July, 2025.

Dated the 26th day of August, 2025.

D.A. Bates Liquidator of EXXONMOBIL GAS VENTURES KOREA LIMITED

O T I C E

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act 2000, notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certifcate of Dissolution issued by The Registrar General on the 22nd day of July, 2025.

Dated the 26th day of August, 2025.

D.A. Bates Liquidator of EXXONMOBIL INDIA LNG LIMITED

BRAZIL’S GOVERNMENT SAYS IT WILL BUY SOME DOMESTIC PRODUCTS HIT BY TRUMP’S TARIFFS

By MAURICIO SAVARESE Associated Press

BRAZIL'S government said on Monday it will buy several domestic products hit by the 50% higher U.S. tariffs, such as acai, coconut water, mangoes and Brazilian nuts — and that it will pay an "adequate" price for them. Coffee and beef did not make the cut, though they are also affected by the measures imposed by U.S. President Donald Trump, who has linked the tariffs on Brazil with the trial of his personal and political

ally, former President Jair Bolsonaro.

The development is the latest chapter in the tariff conflict between the Trump administration and Brazil. Most of the domestic products that the Brazilian government intends to buy, which also include honey and fish, will be used in state schools or in stock building nationwide.

in the United States, that the former Brazilian president's prosecution for attempting to overturn his 2022 election loss is part of what he called "a witch hunt."

Brazil's government estimates that 35.9% of the country's goods shipped to the American market have been affected. That is about 4% of Brazil's total exports.

Brazil's Lula has repeatedly said he wouldn't call Trump to talk about trade for he says the American leader has no interest in negotiating.

Teixeira, a close ally of President Luiz Inácio Lula da Silva, added that Brazil's government "can't pay the price paid by exporters, which are set in dollars," but will find an adequate one for all of these items.

"There's other markets interested in Brazilian coffee," he said. "It is the same thing with beef, there's other markets willing to buy it for it cheap and of the highest quality."

The U.S. measures against Brazil have damaged one of the Western hemisphere's most

Brazil's Agrarian Development Minister Paulo Teixeira told reporters in Brasilia, the country's capital, that products like coffee and beef that didn't make the government's list are of interest to other markets and will presumably have other buyers.

important and long-standing relationships. The Trump administration has also sanctioned the main judge of Brazil's top court

as he prepares to sentence Bolsonaro in September.

The White House has embraced a narrative pushed by Bolsonaro allies

Earlier this month, Brazil also unveiled a plan to support local companies affected by Trump's tariffs. Dubbed "Sovereign Brazil," the plan provides for a credit lifeline of 30 billion reais ($5.5 billion), among other measures.

EXPECT HEALTH INSURANCE PRICES TO RISE NEXT YEAR, BROKERS AND EXPERTS SAY

By TOM MURPHY AP Health Writer

PRICEY prescriptions and nagging medical costs are swamping some insurers and employers now. Patients may start paying for it next year.

Health insurance will grow more expensive in many corners of the market in 2026, and coverage may shrink. That could leave patients paying more for doctor visits and dealing with prescription coverage changes.

Price increases could be especially stark in individual coverage marketplaces, where insurers also are predicting the federal government will end some support that helps people buy coverage.

"We're in a period of uncertainty in every health insurance market right now, which is something we haven't seen in a very long time," said Larry Levitt, an executive vice president at the nonprofit KFF, which studies health care.

What's hitting insurers

In conference calls to discuss recent earnings reports, insurers ticked off a list of rising costs: More people are receiving care. Visits to expensive emergency rooms are rising, as are claims for mental health treatments.

Insurers also say more healthy customers are dropping coverage in the individual market. That leaves a higher concentration of sicker patients who generate claims.

Enrollment in the Affordable Care Act's insurance marketplaces swelled the past few years. But a crackdown on fraud and a tightening of eligibility verifications that were loosened

during the COVID-19 pandemic makes it harder for some to stay covered, Jefferies analyst David Windley noted.

People who use little care "are disappearing," he said.

Prescription drugs pose another challenge, especially popular and expensive diabetes and obesity treatments sometimes called GLP-1 drugs. Those include Ozempic, Mounjaro, Wegovy and Zepbound.

"Pharmacy just gives me a headache, no pun intended," said Vinnie Daboul, Boston-based managing director of the employee benefits consultant RT Consulting.

There are more super expensive drugs

New gene therapies that can come with a one-time cost of more than $2 million also are having an impact, insurance brokers say. Those drugs, which target rare diseases, and some newer cancer treatments are part of the reason Sun Life Financial covered 47 claims last year that cost over $3 million. The financial services company covers high-cost claims for employers that pay their own medical bills. Sun Life probably had no claims that expensive a decade ago and maybe "a handful at best" five years ago, said Jen Collier, president of health and risk solutions.

Some of these drugs are rarely used, but they cause overall costs to rise. That raises insurance premiums.

"It's adding to medical (cost growth) in a way that we haven't seen in the past," Collier said.

Marketplace pain is in the forecast

Price hikes will be most apparent on the Affordable Care Act's individual coverage marketplaces. Insurers there are raising premiums around 20% in 2026, according to KFF, which has been analyzing state regulatory filings.

But the actual hike consumers see may be much bigger. Enhanced tax credits that help people buy coverage could expire at the end of the year, unless Congress renews them.

If those go away, customer coverage costs could soar 75% or more, according to KFF.

Business owner Shirley Modlin worries about marketplace price hikes. She can't afford to provide coverage for the roughly 20 employees at 3D Design and Manufacturing in Powhatan, Virginia, so she reimburses them $350 a month for coverage they buy.

Modlin knows her reimbursement only covers a slice of what her workers pay. She worries another price hike might push some to look for work at a bigger company that offers benefits.

"My employee may not want to go to work for a large corporation, but when they consider how they have to pay their bills, sometimes they have to make sacrifices," she said.

Employers may shift costs

Costs also have been growing in the bigger market for employer-sponsored coverage, the benefits consultant Mercer says. Employees may not feel that as much because companies generally pay most of the premium.

But they may notice coverage changes.

About half the large employers Mercer surveyed earlier this year said they are likely or very likely to shift more costs to their employees. That may mean higher deductibles or that people have to pay more before they reach the outof-pocket maximum on their coverage.

Drug coverage changes are possible

For prescriptions, patients may see caps on those expensive obesity treatments or limits on who can take them.

Some plans also may start using separate deductibles for their pharmaceutical and medical benefits or having patients pay more for their prescriptions, Daboul said.

To get that perfect ear of corn, weather has to cooperate. But climate change is making it dicier

By MELINA WALLING and JOSHUA A. BICKEL Associated Press

ROBB Rynd and his brother grew up farming and wanted to do more of it outside their day jobs, so they went in together on what's now a little over 200 acres of corn, soybeans, wheat and sorghum. Last year was a good year, and Rynd said he enjoyed walking the fields with his kids to see how the corn was doing.

This year is a different story. All summer he's been scouting for brown and wilting leaves or ears of corn with kernels missing, and now it's becoming clear that every kernel will count this harvest. "It's almost kind of depressing to go out there and look at it and say, 'oh yep, it does look bad,'" he said.

Across major corn-growing states, climate change is fueling conditions that make watching the corn grow a nail-biter for farmers. Factors like consistently high summer overnight temperatures, droughts and heavier-than-usual rains at the wrong time can all disrupt the plants' pollination — making each full ear of corn less of a guarantee and more of a gamble.

Overall, corn growers got lucky this year with late-season weather that contributed to what is now predicted to be a record bumper crop. But experts say bouts of extreme weather are intensifying the waiting game during a critical time of year between planting and harvest.

Human-caused climate change has worsened multiple U.S. extreme heat events this year and has steadily increased the likelihood of hotter overnight temperatures since 1970, according to Climate Central, an independent group of scientists who communicate climate science and data to the public.

"The hot nights too, like the corn's never getting a break. It's just hot all the time," Rynd said. "I know it's wearing on me."

How excessive heat and rainfall can impact corn pollination

As a corn plant grows, the leaves unroll to reveal the tassel, the part that sheds pollen, explained Mark Licht, an associate professor of agronomy and an extension cropping systems specialist at Iowa State University. If the plant grows too fast, which can happen when it's consistently very hot, the tassel may be wrapped too tightly by the leaf, meaning less pollen gets released.

That can lead to patchy ears of corn. Tight tassel wrap was reported in pockets across parts of the Midwest and the Plains,

according to some agricultural trade publication reports during the growing season. Licht said he'd only seen tassel wrapping issues once before in his 20 years as an agronomist.

High temperatures can stress corn in other ways, lowering pollen production, reducing pollen's viability or drying out other parts of the plants, reducing fertility.

"I think any of the pollination issues that we might be having are more because the nights have been so exceedingly warm," said Larry Walton, who farms near Rynd in southwestern Michigan, where many farmers irrigate because it's a drier area.

"We tend to see pollination issues being more problematic when we have high temperatures and drought conditions or lack of rainfall," Licht said. Yet Iowa had plenty of rain and still saw some pollination issues. Excessive moisture can cause corn smut, a type of fungus that grows on the ears.

He said farmers are having to pay more attention to this because "there's just more variable weather."

Overall 'monster' yield expected despite tricky weather conditions

This winter, the U.S. drought monitor reported drought in nearly 60% of corn production areas in the Midwest. But near or above normal rainfall nearly everywhere east of the Rockies this summer brought that down to just 3% as of the beginning of August, said Brad Rippey, a meteorologist with the U.S. Department of Agriculture.

That, combined with consistent heat, means that "we are expecting a monster U.S. corn crop in 2025," Rippey said.

But it wasn't easy for everyone. "This has probably been one of the most difficult growing seasons that I've experienced in my career," said Philip Good, a farmer in Macon, Mississippi and chair of the United Soybean Board. He planted his corn and

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soybeans 60 days behind schedule because it rained nearly every day for two months.

They lost some fertilizer and some plants died in standing water, Good said, but they made up for it with some lucky weather later in the season.

"The rain does fall in heavier bursts," Rippey said. He said that can be an issue for farmers because even when it doesn't cause flash floods, the moisture doesn't necessarily percolate into the soil. It runs off and carries fertilizer with it, which is a problem for

rivers' health and farmers' pocketbooks.

The trend toward higher humidity levels and warmer ocean temperatures, contributing to hotter nights, could be a bigger issue going forward, putting stress on crops like corn and soybeans, Rippey added.

Climate variability adds stress to a critical time for farmers

Late summer is a makeor-break time for farmers: They're trying to gauge how much they'll make from the year's crop and planning their next steps, and patchy pollination doesn't help.

"We'd like to upgrade a tractor ... or we'd maybe try to pick up some more ground," Rynd said. "It's hard to want to go do those things when you have a bad year like this."

When the uncertain pollination is at its worst, if 15% to 25% of every ear of

corn doesn't have kernels, that could mean a significant yield loss over a large field, said Nicolle Ritchie, a Michigan State University extension agent who helps Walton and Rynd survey their crops. Jason Cope co-founded a farm tech company called PowerPollen whose equipment can mechanically collect pollen and then pollinate future crops. He said that due to extreme weather events, the number of "rescue" pollination jobs they've done for customers — to save fields that didn't naturally pollinate very well — has nearly doubled since they started in 2018.

Walton said he can manage as long as the pollination issues don't get too bad.

"You learn to roll with the stress part of it because most of that you can't control anyway," he added.

Southwest Airlines’ new policy will affect plus-size travelers. Here’s how

By RIO YAMAT AP Airlines Writer

SOUTHWEST Airlines will soon require travelers who can't fit within the armrests of their seat to pay for an extra one in advance, part of a string of recent changes the carrier is making.

The new rule goes into effect Jan. 27, the same day Southwest starts assigning seats.

Currently, plus-size passengers can either pay for an extra seat in advance with the option of getting that money back later, or they can request a free extra seat at the airport. Under the carrier's new policy, a refund is still possible but no longer guaranteed.

In a statement Monday,

Southwest said it is updating some of its policies as it prepares for assigned seating next year.

"To ensure space, we are communicating to Customers who have previously used the extra seat policy that they should purchase it at booking," the statement said.

It marks the latest change at Southwest, which had

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long been known for letting its passengers pick their own seats after boarding the plane, and for letting their bags fly for free, which ended in May. Those perks were key to differentiating the budget carrier from its rivals.

Southwest says it will still refund a second ticket under its new policy for extra seating if there is at least one open seat on the flight when it departs, and if both of the passenger's tickets were purchased in the same booking class.

The passenger also needs to request the refund within 90 days of the flight.

If a passenger who needs an extra seat doesn't purchase one ahead of time, they will be required to buy one at the airport, according to the new policy. If the flight is full, the passenger will be rebooked onto a new flight.

The airline has struggled recently and is under pressure from activist investors to boost profits and revenue. It also said last year that it would charge customers extra for more legroom and offer red-eye flights.

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PHILADELPHIA'S MASS TRANSIT CUTS FORESHADOW POSSIBLE SIMILAR MOVES BY OTHER AGENCIES ACROSS US

By MARC LEVY Associated Press

COMMUTERS and stu-

dents in Philadelphia woke up earlier than usual on Monday to navigate service reductions that the region's public transit agency has called more drastic than any undertaken by a major transit agency in the United States.

The cuts took effect as the school year began in the nation's sixth-most populous city and could herald similar moves by major transit agencies around the U.S. as they struggle with rising costs and lagging ridership. Reductions are also on the table at transit agencies in Dallas, Chicago, San Francisco and Pittsburgh.

In many places, funding has not kept up with inflation while ridership is still below pre-pandemic levels after many people had their routines disrupted by COVID-19.

Some 52,000 public school students in Philadelphia use public transit to get to school. Students and commuters talked of needing to get up much earlier to make time for longer commutes, unusually crowded buses and skipped stops.

ELON MUSK

Zairean Wills, a sophomore at Roxborough High School, told The Philadelphia Inquirer that she woke up at 6 a.m., an hour earlier than usual because of the Southeastern Pennsylvania Transportation Authority cuts.

"It's fine because I get more time with my friends, but it sucks that I have to wake up earlier for no reason," Wills said while

waiting in a line of kids at Wissahickon Transportation Center.

She said she will probably need her dad to take her to school in the winter to avoid weather delays making her late to school.

The school district has said it will not punish students who are late because of SEPTA route changes if they have a note from a parent or guardian.

ACCUSES APPLE AND OPENAI OF STIFLING AI COMPETITION IN ANTITRUST LAWSUIT

By MICHAEL LIEDTKE AP Technology Writer

ELON Musk on Monday

targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.

The 61-page complaint

filed in Texas federal court follows through on a threat that Musk made two weeks ago when he accused Apple of unfairly favoring

OpenAI and ChatGPT in the iPhone's app store rankings for top AI apps. Musk's post insinuated that Apple had rigged the system against ChatGPT competitors such as the Grok chatbot made by his own xAI. Now, he is detailing a litany of grievances in the lawsuit — filed by xAI and another of his corporate entities, X Corp. — in an attempt to win monetary damages and a court order prohibiting the alleged illegal tactics.

The double-barreled legal attack weaves together several recently unfolding narratives to recast a year-old partnership between Apple and OpenAI as a veiled conspiracy to stifle competition during a technological shift that could prove as revolutionary as the 2007 release of the iPhone. "This is a tale of two monopolists joining forces to ensure their continued dominance in a world rapidly driven by the most

Alayah Brown told the Inquirer that she walked to the 69th Street Transportation Center because most of the buses in her neighborhood were eliminated. She was commuting on her first day of work as a teaching assistant at an elementary school in neighboring Delaware County, but she watched her bus leave the transportation center while

powerful technology humanity has ever created: artificial intelligence," the lawsuit asserts.

The complaint portrays Apple as a company that views AI as an "existential threat" to its future success, prompting it to collude with OpenAI in an attempt to protect the iPhone franchise that has long been its biggest moneymaker.

Some of the allegations accusing Apple of trying to shield the iPhone from doeverything "super apps," such as the one Musk has long been trying to create with X, echo an antitrust lawsuit filed against Apple last year by the U.S. Department of Justice.

PASSENGERS board a Southeastern Pennsylvania Transportation Authority (SEPTA) bus in Philadelphia, Monday, Aug. 25, 2025.

she was waiting at a red light to cross the street.

"I'm very mad," Brown said. "I just paid $50 for an Uber and I'll still be almost late."

All told, SEPTA has warned that it will cut half its services by Jan. 1 and won't provide enhanced service for major tourist events next year. Those include FIFA World Cup matches in Philadelphia, events surrounding the celebration of the nation's 250th birthday, Major League Baseball's All-Star Game, the PGA Championship and NCAA March Madness games.

SEPTA has said its cuts this week amount to a 20% across-the-board service reduction to deal with a deficit of more than $200 million. That includes eliminating bus routes with lower ridership and reducing the frequency of bus, trolley and rail services across the region.

It plans to raise fares by 21.5% on Sept. 1 for the system's approximately 800,000 daily riders. A weekday ride would rise from $2.50 to

$2.90 on a bus, train or trolley, it said.

The agency plans to impose a hiring freeze and then, on Jan. 1, carry out additional service cuts that would mean it will have eliminated half its current services. That would include cutting more regional rail and bus routes and imposing a 9 p.m. curfew on rail services, some of which now run as late as 1:30 a.m.

The Chicago Transit Authority is considering shutting down four of eight elevated train lines and 74 of 127 bus routes under the worst-case scenario as it figures out how to plug a $770 million budget hole.

Pittsburgh Regional Transit is considering a 35% service reduction to help close what it calls a roughly $100 million deficit this year. That could include eliminating 45 bus routes, reducing 54 others and eliminating one of three light rail lines.

The San Francisco-area Bay Area Rapid Transit said it will raise fares Jan. 1 and is using hundreds of millions of dollars in emergency state aid to avoid service cuts.

The complaint casts OpenAI as a threat to humanity bent on putting profits before public safety as it tries to build on its phenomenal growth since the late 2022 release of ChatGPT. The depiction mirrors one already being drawn in another federal lawsuit that Musk filed last year, alleging OpenAI had betrayed its founding mission to serve as a nonprofit research lab for the public good. OpenAI has countered with a lawsuit against Musk accusing him of harassment — an allegation that the company cited in its response to Monday's antitrust lawsuit. "This latest filing is consistent with Mr. Musk's ongoing pattern of harassment," OpenAI said in a statement. Apple didn't immediately respond to a request for comment.

The crux of the lawsuit revolves around Apple's decision to use ChatGPT as an AI-powered "answer engine" on the iPhone when the built-in technology on its device couldn't satisfy user needs. The partnership announced last year was part of Apple's late entry into the AI race that was supposed to be powered mostly by its own on-device technology, but the company still hasn't been able to deliver on all its promises.

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REKA CAPITAL LTD.

Notice is given hereby in accordance with Section 138(8) of the International Business Companies Act, 2000, the dissolution of REKA CAPITAL LTD. has been completed, a Certifcate of Dissolution has been issued and the Company has therefore been struck of the Registrar.

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