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No one connects with fans better than Baltimore Orioles outfielder Adam Jones, so it's no surprise he went above and beyond to help make a fan's wedding proposal one to remember.Before Monday's exhibition game against Norfolk Tides, Daniel Diaz reached out to the center fielder on Instagram asking if he could do a quick video of him saying "Daniel has a question for his girlfriend Kristine." Instead, Jones had a better idea, he suggest instead of a video recording how about they do it in person.Just as promised right on the diamond Jones helped Diaz pull off a surprise proposal to his girlfriend Kristine Dixon, and she said yes! 702
NEW YORK (AP) — Uber shares sunk even further after its disappointing stock market debut as doubts lingered over the company's ability to turn a profit and trade tensions dragged down the overall market.The ride-hailing giant's stock fell 10% and hovered around Monday afternoon on Uber's first full day of trading.The mounting losses followed Uber's disappointing initial public offering. On Friday, it took a 7 million hit — the largest loss on the first day of trading by a U.S.-based company in recent history, according to Renaissance Capital.Uber's earliest investors are still making money off the IPO, but "for late-round investors, it's possible by the time they exit they will end up with a loss," said Jay Ritter, finance professor at the University of South Florida.Among the recent big investors — and perhaps losers — is PayPal, which had disclosed plans to buy 0 million in Uber stock at the IPO price of .Uber has had no trouble convincing venture capitalists to pour money into its earlier funding rounds, but with its unclear path to profitability, it's having a more difficult time with Wall Street investors."It's clearly a high-risk, high-reward scenario. You're betting on something that may happen 10 years down the road," said Matt Kennedy, senior IPO market strategist at Renaissance Capital, a manager of IPO exchange traded funds. "Public investors are looking at profits and not seeing any, and the company's growth in the last quarter was relatively strong, but I don't think it blew anyone away."Uber's main U.S. rival, Lyft, is in a similar spiral. Its stock was trading below on Friday, down 33% from its IPO price of .It's rare to see shares in a tech company hit so hard upon going public. Over the past five years, just 10% of similar companies finished their first day of trading below their IPO price, Kennedy said.Uber's revenue last year surged 42% to .3 billion, but the company admits it could be years before it turns a profit. 2000
NEW YORK (AP) — Americans held back on spending during the start of the holiday shopping season, a troubling sign for retailers and the state of the U.S. economy. U.S. retail sales fell a seasonally adjusted 1.1% in November, according to the U.S. Commerce Department. It was the biggest drop in seven months, and a steeper decline than Wall Street analysts had expected. The Commerce Department on Wednesday also revised October’s report, saying that retail sales fell 0.1% that month, instead of rising 0.3% as it previously reported. Retailers had tried to get people to shop early, with Amazon, Best Buy, Walmart and others offering holiday deals in October.The report points to a weak start to the all-important holiday shopping season, which can usually account for a quarter or more of a retailer’s annual sales. Black Friday was also a bust. Typically one of the busiest shopping days of the season, shoppers mostly stayed home after health officials warned people not to shop in person, and retailers followed suit by putting their best deals online. Half as many people shopped inside stores this Black Friday than last year, according to retail data company Sensormatic Solutions.“It will take a miracle to keep retail sales positive in December,” said Chris Rupkey, chief financial economist at global financial group MUFG.It is also another sign that the pandemic is slowing the U.S. economy as stores face tighter restrictions and people stay away home. 1475
New payment options are popping up in your online shopping cart.There's been an explosion of retailers, including Amazon and Target, adding buy now, pay later options.“In general, I'm not a huge fan of these services really, because I'm worried about any sort of consumer debt,” said Ted Rossman, a financial expert at Bankrate. “And if you don't really have the money to pay for it today, but you think you'll have it in six weeks, that's a slippery slope.”Rossman says point-of-sale apps have seen triple digit growth over the holiday season.They typically require a payment up front and a few more payments spread out over six weeks or so. If you pay on time, usually there's no interest or fees.Rossman says research has found that almost half of buy now, pay later customers have paid late at some point, mainly because they were disorganized.Stores like them for several reasons, including because they tend to get people to spend more.“They also like the potential loyalty and big data play that they can actually learn a lot about their customers, and they work very closely with a lot of these services,” said Rossman.Most buy now, pay later lenders typically do a soft credit check. They won't typically help you build credit, but they could hurt your credit if you pay late because they will report that.“I just think that's a little bit short sighted, because if you use a credit card and are paying full, you avoid interest, but you get better promotions, you get rewards, you get better buyer protections,” said Rossman.Rossman says these options are appealing even to people who have credit, because of their predictability.He thinks we will see more of these with retailers not being able to push store credit cards as much with fewer in person shoppers. 1778
NEW YORK (AP) — Baseball Commissioner Rob Manfred says there might be no major league games this year.This comes amid a breakdown in talks between teams and the players' union on how to split up money in a season delayed by the coronavirus pandemic.The league also revealed several players have tested positive for COVID-19.Two days after union head Tony Clark declared additional negotiations futile, Deputy Commissioner Dan Halem sent a seven-page letter to players’ association chief negotiator Bruce Meyer asking the union whether it will waive the threat of legal action and tell MLB to announce a spring training report date and a regular-season schedule.“The proliferation of COVID-19 outbreaks around the country over the last week, and the fact that we already know of several 40-man roster players and staff who have tested positive, has increased the risks associated with commencing spring training in the next few weeks,” Halem wrote in his letter to Meyer, which was obtained by the Associated Press.The pandemic caused the league to stop spring training on March 12, two weeks before the start of the season. On March 26, the sides reached an agreement on how to revise their labor deal to account for the virus. Hostility has escalated since then as both sides exchange offers. 1301