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LOS ANGELES, Aug. 4, 2022 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The GEO Group, Inc. ("GEO" or "the Company") (NYSE: GEO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you are a shareholder who purchased shares between November 7, 2018 and July 17, 2019, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
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SOURCE The Schall Law Firm | https://www.live5news.com/prnewswire/2022/08/04/long-term-shareholder-notice-schall-law-firm-encourages-investors-geo-group-inc-with-losses-contact-firm/ | 2022-08-04T07:40:38Z | https://www.live5news.com/prnewswire/2022/08/04/long-term-shareholder-notice-schall-law-firm-encourages-investors-geo-group-inc-with-losses-contact-firm/ | false | 33 |
SINGAPORE, Aug. 4, 2022 /PRNewswire/ — Fullerton Health Corporation Limited (“Fullerton Health” or the “Company”) announced today that it has completed a merger led by RRJ Capital (“RRJ”) involving an equity injection by the private equity firm and a senior loan totalling S$390 million. The merger delivers a stronger balance sheet and a new capital structure which will propel post-pandemic growth opportunities for the pan-Asian healthcare provider.
Singapore-headquartered Fullerton Health said the merger has been legally completed under the laws of Cayman Islands where it is registered, after having received approval by 85.8% of shareholders on 5 May 2022. The merger involved the combination of Fullerton Healthcare Corporation Limited with Fullerton Health and the latter continuing as the surviving entity.
RRJ has subscribed for S$140 million of new ordinary shares in Fullerton Health, while the Company has entered into a senior loan facility agreement for S$250 million with three reputable banks. RRJ’s existing perpetual securities and convertible preference shares have been cancelled and offset against S$180 million worth of new shares issued by Fullerton Health, as well as subordinated debt and cash.
Following the merger, RRJ is now the majority shareholder of the Company. The remaining stakes are held by shareholders, such as Ping An Capital, who have elected to rollover. Founded by the brothers Richard and Charles Ong who have extensive corporate and private equity experience globally, Asia-based RRJ has over US$15 billion of long-term capital under management.
A new nine-member board of directors (“the Board”) will be set up for Fullerton Health, comprising three new directors, Mr. Charles Ong, Ms. Vivian Lam and Mr. Alex Yeung, and the following directors from the previous board: Independent Chairman Mr. Michael Lim, Independent Director Dr. Teh Kok Peng, Group CEO and Executive Director Mr. Ho Kuen Loon (“Mr Ho”), and Directors Mr. Richard Ong, Mr. John Batchelor and Mr. Wang Lin.
David Sin of SIN Capital and two other co-founders, Dr Michael Tan and Dr Daniel Chan will no longer be involved with the Board. The two doctors reached a Settlement Agreement with the Company last month.
The merger will allow the Company to cut borrowings substantially, increase working capital, and have more flexibility to raise funds. Fullerton Health operates in nine markets with a strong presence in Singapore, the Philippines and Indonesia. It owns over 550 facilities and has more than 6,000 employees. Fullerton Health’s revenue crossed S$800 million for the financial year ended 31 December 2021, with healthy EBITDA margin at mid-teens and net profits.
Mr. Michael Lim, said, “The successful merger marks a fresh and exciting new chapter. It positions the Company on a much stronger foundation to implement growth strategies. The pandemic has disrupted the healthcare sector in many ways and opened up opportunities for a proven regional operator such as Fullerton Health to seize them.”
Mr. Lim added, “We welcome Mr. Charles Ong, Ms. Vivan Lam and Mr. Alex Yeung to the Board; we are confident their experience and counsel will bring the Company to greater heights. The new Board, along with RRJ, intend to give their full support to the management team, led by our Group CEO and Executive Director, Mr Ho Kuen Loon, as we navigate the road ahead.”
Mr. Ho said, “The combination of our business operations and track record, along with RRJ’s strong backing, will grant us much greater funding flexibility to manifest our vision to deliver affordable and accessible healthcare for all. We remain committed to serving our clients and patients. We have an ambitious plan to grow Fullerton Health through strengthening our fundamentals, deepening in our core markets in Singapore, the Philippines and Indonesia, expanding into new markets, innovating new service and product lines, as well as digitalization.”
“The merger aligns the interests of all stakeholders who can now work more cohesively to capture the new opportunities in the post-pandemic healthcare sector in the region. This will allow us to fulfil our corporate mission and potential and thereby enhance value for all shareholders,” RRJ’s Richard Ong said.
BofA Securities acted as the sole financial advisor to Fullerton Health.
About Fullerton Health
Fullerton Health is a leading integrated health system in the Asia Pacific region. Founded in Singapore in 2010, today the Company serves clients through over 550 owned healthcare facilities and a large global network of healthcare providers across nine markets in Asia Pacific. Fullerton Health’s value proposition is the integration of healthcare service offerings with customized management and advisory capabilities, in line with its purpose to deliver affordable and accessible care for all in Asia Pacific.
For more information on Fullerton Health, please visit http://www.fullertonhealth.com/
About RRJ Capital
RRJ Capital is an Asian-based private equity firm with offices in Singapore and Hong Kong with over US$15 billion assets under management. Its founders Richard Ong was ex-Head of Investment Banking Asia Ex-Japan of Goldman Sachs, and Charles Ong was ex-Senior Managing Director at Temasek Holdings Limited. Both of them have extensive corporate and private equity experience globally. Richard Ong is also a non-executive, non-independent director of Fullerton Health. | https://www.topnewsphil.com/fullerton-health-completes-merger-led-by-rrj-capital-stronger-balance-sheet-and-new-corporate-structure-will-propel-post-pandemic-growth-opportunities/ | 2022-08-04T07:42:10Z | https://www.topnewsphil.com/fullerton-health-completes-merger-led-by-rrj-capital-stronger-balance-sheet-and-new-corporate-structure-will-propel-post-pandemic-growth-opportunities/ | true | 4 |
D.C. United have been busy this summer and they don’t appear to be finished just yet.
According to head coach Wayne Rooney, who was appointed last month, the club is close to finalizing one more acquisition before the Secondary Transfer Window deadline passes on Thursday (Aug. 4).
"I think as a manager you always want to see more players come in. We've been working very hard over the last week. I think potentially we could have someone in by tomorrow evening,” Rooney told reporters following the club’s 3-0 loss at Charlotte FC Wednesday night.
“We were trying to get something over the line or close to done while the game was going on, so I don't have any update on that yet, so I'll be checking on that now when I go in. It could be difficult in terms of the timeframe, but we are trying to get at least one more player done,” added the Manchester United legend.
New coach, new vision
D.C. United's roster has been revamped under Rooney as the squad inches closer to their new head coach’s vision.
On Wednesday, they appointed Pete Shuttleworth as an assistant coach. The Englishman joins Rooney’s technical staff after serving as part of Rooney’s coaching staff with Derby County in the English Championship last season.
As for the roster, they have made the following moves:
Outgoing
- Designated Player Edison Flores transferred to reigning Liga MX champions Atlas
- Julian Gressel traded to Vancouver Whitecaps FC for up to $900,000 in General Allocation Money (GAM)
Incoming
- Signed Jamaican international midfielder Ravel Morrison, a free agent who played under Rooney at Derby County
- Picked up striker Miguel Berry in a trade with the Columbus Crew for up to $325,000 in GAM
- Acquired Icelandic international midfielder Victor Pálsson from German Bundesliga side FC Schalke 04 as a DP
- Acquired goalkeeper David Ochoa in a trade with Real Salt Lake in exchange for at least $75,000 in 2023 GAM
- Chilean winger Martin Rodriguez, who recently made his debut as well, arrived from the Turkish top-flight in late June
As for the caliber of a potential incoming replacement? Well, the club still holds a DP spot as the Secondary Transfer Window heads to a close.
"There's players out there, good players out there that we're looking for, so you never know,” Rooney said.
Injury concerns?
In the meantime, D.C. United will be concerned with a potential injury to star forward Taxi Fountas.
The 26-year-old Greek international was forced to leave Wednesday’s game at halftime with groin tightness, though Rooney stated afterward the move was precautionary.
“We’ll see how [his groin] is over the next 24 to 48 hours,” Rooney said of the 2022 MLS All-Star.
Any injury to Fountas would be a severe blow for D.C. United. The DP attacker has been the club’s best player, scoring 11 goals and adding three assists in 15 league starts during his first season with the Black-and-Red.
Brendan Hines-Ike was also forced to leave Wednesday’s match and will have X-rays on his foot. The defender has started all but two league matches for D.C. this season.
One bit of positive news is Ochoa appears to be inching closer to his D.C. United debut. Having yet to feature in an MLS match this season, the Mexican international is “still probably a week to 10 days away” as he works his way up to full fitness, Rooney added. However, the former Derby Country manager cautioned Rafael Romo has impressed and would provide some healthy competition for the starting goalkeeper spot.
D.C. United are last in the Eastern Conference table – eight points back of an Audi MLS Cup Playoffs spot – with 12 matches remaining. If the Black-and-Red want to make any sort of push towards the postseason, they’ll need help and fitness on their side. | https://www.mlssoccer.com/news/wayne-rooney-s-dc-united-chasing-one-more-player-as-transfer-window-closes | 2022-08-04T07:42:20Z | https://www.mlssoccer.com/news/wayne-rooney-s-dc-united-chasing-one-more-player-as-transfer-window-closes | false | 1 |
Cars, watches and even bags have taken centerstage in films, but in ‘Bullet Train’, the spotlight is firmly cast on a formidable briefcase.
The Sony Pictures thriller, which releases in theatres today (4 August), places the Tumi 19 Degree Aluminum briefcase front and centre in multiple outrageous debacles between assassins on the world’s fastest train.
Featuring a star-studded cast of Hollywood names, including Brad Pitt, Joey King, Brian Tyree Henry and Aaron Taylor Johnson, the film sees the briefcase being fought over and put through the wringer.
“There was only one luggage brand who had enough style to fit in with the film’s all-star cast as well as the durability that could go head to head with an ensemble of assassins on one of the world’s fastest trains and that was TUMI, which perfectly fits in with this edgy, action-packed film,” said Jeffrey Godsick, EVP of Global Partnerships and Brand Management and Head of Location Based Entertainment at Sony Pictures Entertainment.
The briefcase in question is a limited edition that boasts the best of form and function. It’s made from aluminum with a sleek, silhouette and fluid angles, and is finished with a leather wrap top carry handle that retracts when not in use. It also sports a three-digit combination lock with a push button, a monogrammable initial patch and a luggage tag with the Bullet Train logo. Proving handy for business travellers, it also has Tumi’s legendary functional features such as multiple elastic and file pockets for documents, slip pockets and media pockets for stashing devices and a removable leather laptop portfolio.
Only 150 limited-edition briefcases in this Tumi and ‘Bullet Train’ partnership are available globally from select Tumi stores and Tumi.com. Unable to bag one of these? The full 19 Degree Aluminum product line with an assortment of travel cases is also available.
‘Bullet Train’ is now showing in theatres.
All images are courtesy of Tumi | https://www.prestigeonline.com/sg/travel/destinations/see-the-tumi-briefcase-that-stars-in-new-blockbuster-bullet-train/ | 2022-08-04T07:46:13Z | https://www.prestigeonline.com/sg/travel/destinations/see-the-tumi-briefcase-that-stars-in-new-blockbuster-bullet-train/ | true | 1 |
Dubai: The owner-operator of the Medeor and LLH hospitals, Abu Dhabi-based Burjeel Holdings recorded Dh3.35 billion in revenues for 2021, a total representing an 18 per cent CAGR (compound annual growth rate) over a three-year period. The numbers are significant as Burjeel considers a stock market listing on the ADX.
Profit during 2021 was at Dh234 million. The company lays claim to being the biggest privately-owned healthcare provider in the UAE. “The strategy and decisions we have made along the way have enabled us to achieve the levels of success seen in today’s results,” said Dr Shamsheer Vayalil, CEO and Executive Director of Burjeel Holdings.
“Burjeel Holdings operates 39 hospitals and medical centers across the UAE and Oman, which provide healthcare services for all socio-demographics.” This includes a 400-bed tertiary healthcare facility – Burjeel Medical City - in Mohamed Bin Zayed City, and a category that will likely see faster growth opportunities in the medium-term. “As we continue along our journey of strengthening Burjeel Holdings as an organization, we will develop our brand to position ourselves as a platform to attract top talent that can succeed at the highest levels, helping to further develop our company,” said Vayalil.
IPO calling?
In the recent past, Burjeel had been rated as a top contender from the private sector to go public. The announcement of the 2021 numbers suggest that the company is readying itself for an announcement to this effect. The 39-strong network provides the company heft and its multiple brands – LLH, Medeor, LLH, Lifecare, Tajmeel and Burjeel itself – have become established names in the spaces they occupy.
Burjeel’s 2021 EBITDA was at Dh779 million, representing a margin of over 23 per cent, and offers quite the foundation to scale higher. Apart from the hospitals and clinics, there are also the pharmacies and allied medical services that Burjeel provides. | https://gulfnews.com/business/markets/uaes-burjeel-holdings-records-dh335b-in-2021-as-healthcare-provider-eyes-ipo-1.89710207 | 2022-08-04T07:48:04Z | https://gulfnews.com/business/markets/uaes-burjeel-holdings-records-dh335b-in-2021-as-healthcare-provider-eyes-ipo-1.89710207 | false | 1 |
SHARON – The idea behind “Getting Gritty for Our City,” the Sharon football team’s neighborhood cleanup Monday in the C.M. Musser Elementary School neighborhood, is two-fold, said Sharon Code Enforcement Officer Geno Rossi.
First, members of the team cleared garbage from along streets near the school. Second, it allows teenagers and young adults to set an example to the elementary school students who will have a more pleasant walk to school when classes begin in a few weeks.
“All the kids in the Musser neighborhood can walk to school with little, or hopefully zero, garbage,” Rossi said.
And those kids will someday be expected to take on the task.
“We actually are borrowing the Earth from them,” Rossi said. “They’re the next ones up.” | https://www.sharonherald.com/news/sharon-scores-clean-yards-thanks-to-football-team/article_237f3654-137b-11ed-b449-fbbba509dad6.html | 2022-08-04T07:49:00Z | https://www.sharonherald.com/news/sharon-scores-clean-yards-thanks-to-football-team/article_237f3654-137b-11ed-b449-fbbba509dad6.html | false | null |
FLASHBACK: In 2013, Jonathan’s govt unveiled plans to build rail line to Niger Republic.
Buhari administration has come under attack over its plan to construct a rail line from Nigeria to the Niger Republic, a project some have described it as a “misplaced priority”.
Although Garba Shehu, presidential spokesman, said the rail line will end at Nigeria’s border with Niger and not extend into the country, those against it still believe it is not worth the $1.96bn investment.
Among those that have kicked against the project is the Peoples Democratic Party (PDP), which said in response that “the problem of this regime is that it has never got its priorities right”.
“What is the economic benefit of this project to Nigeria,” Kola Ologbindiyan, PDP spokesman, had asked in a media interview.
Interestingly, the rail project was first conceived during the PDP administration in 2013.
The government of the then-president Goodluck Jonathan had announced plans to construct a rail line from Zaria in Kaduna state to Niamey, the capital of Niger Republic.
Then-Vice President Namadi Sambo, who made the announcement, had said the rail line will run through Zamfara, Sokoto and Kebbi states.
When he visited the emir of Zazzau at the time, Sambo had said: “I am glad to inform you that rehabilitation of the rail line from Zaria to Kauran Namoda has commenced. I am equally happy to state that rail services from Kano to Lagos are in progress.
“The survey on the new rail line from Kauran Namoda to Sokoto to Birnin Kebbi has begun. We hope to link the rail line to Niamey in Niger Republic.”
Now that the project has returned to the limelight, the president said it was part of a masterplan in an agreement signed in 2015 between Nigeria and Niger, and coordinated by the Nigeria-Niger Joint Commission for Cooperation.
How beneficial is it to Nigeria? Shehu had said the rail will help both countries harness raw materials, mineral resources and agricultural produce.
“When completed, it will serve domestic industries and play the role of a viable transportation backbone to the West African subregion, starting with the neighbouring Niger Republic for their export and import logistic chain,” he said
https://www.thecable.ng/flashback-in-2013-jonathans-govt-unveiled-plans-to-build-rail-line-to-niger-republic/amp | https://niyitabiti.net/2022/08/jonathans-government-awarded-1-96bn-kano-niger-republic-rail-line-in-2013/ | 2022-08-04T07:49:27Z | https://niyitabiti.net/2022/08/jonathans-government-awarded-1-96bn-kano-niger-republic-rail-line-in-2013/ | false | 1 |
DUBAI, United Arab Emirates (AP) — Iranian officials now speak openly about something long denied by Tehran as it enriches uranium at its closest-ever levels to weapons-grade material: The Islamic Republic is ready to build an atomic weapon at will.
The remarks could be bluster to force more bargaining-table concessions from the U.S. without planning to seek the bomb. Or, as analysts warn, Iran could reach a point like North Korea did some 20 years ago where it decides having the ultimate weapon outweighs any further international sanctions.
All this could be put to the test Thursday as Iran, the U.S. and the European Union prepare for a snap summit that appears to be a last-ditch effort in Vienna to revive Tehran's tattered nuclear deal amid the new pressure. That includes one Iranian video online suggesting the country's ballistic missiles could “turn New York into a heap of rubble from hell.”
Hyperbole aside, the language taken as a whole marks a distinct verbal escalation from Tehran.
“In a few days we were able to enrich uranium up to 60% and we can easily produce 90% enriched uranium. ... Iran has the technical means to produce a nuclear bomb but there has been no decision by Iran to build one,” Kamal Kharrazi, an adviser to Supreme Leader Ayatollah Ali Khamenei, told Al Jazeera in mid-July. Uranium enriched at 90% is considered weapons-grade.
Ataollah Mohajerani, a culture minister under reformist President Mohammad Khatami, then wrote in Iran’s Etemad daily newspaper that Kharrazi’s announcement that Iran could make a nuclear weapon provided a “moral lesson” for Israel and President Joe Biden.
And finally Mohammad Eslami, the head of Iran’s civilian nuclear agency, made his own reported comment about a potential military aspect to Iran’s program.
“As Mr. Kharrazi mentioned, Iran has the technical ability to make an atomic bomb, but there is no such plan on the agenda,” Eslami said Monday, according to the semiofficial Fars news agency.
Eslami’s agency later said he had been “misunderstood and misjudged” — likely a sign Iran's theocracy didn't want him to have been so specific. Eslami's threat also carries more weight than others as he's directly worked for Iranian defense agencies linked to Iran's military nuclear program — including one that secretly built uranium-enriching centrifuges with Pakistani nuclear proliferator A.Q. Khan’s help.
But by 2003, Iran had abandoned its military nuclear program, according to U.S. intelligence agencies, America's European allies and IAEA inspectors. The U.S. had just invaded Iraq, citing later-debunked claims of Saddam Hussein hiding weapons of mass destruction. America already was at war in Afghanistan, another nation neighboring Iran.
Libya under then-dictator Moammar Gadhafi gave up its own nascent military atomic program that relied on the same Pakistani-designed centrifuges that Tehran bought from Khan.
Ultimately, Iran reached its 2015 nuclear deal with world powers, which saw it receive economic sanctions relief while it drastically curtailed its program. Under the deal, Tehran could enrich uranium to 3.67%, while maintaining a stockpile of uranium of 300 kilograms (660 pounds) under constant scrutiny of IAEA surveillance cameras and inspectors.
But then-President Donald Trump unilaterally withdrew America from the accord in 2018, saying he’d negotiate a stronger deal including Tehran’s ballistic missile program and its support of regional militant groups. He didn’t. Attacks on land, at sea and in the air raised tensions across the wider Mideast. And Iran after a year began breaking the deal’s terms.
As of the last public IAEA count, Iran has a stockpile of some 3,800 kilograms (8,370 pounds) of enriched uranium. More worrying for nonprofileration experts, Iran now enriches uranium up to 60% purity — a level it never reached before that is a short, technical step away from 90%. Those experts warn Iran has enough 60%-enriched uranium to reprocess into fuel for at least one nuclear bomb.
Iranian diplomats for years have pointed to Khamenei’s preachings as a binding fatwa, or religious edict, that Iran wouldn't build an atomic bomb.
“We do not need nuclear bombs. We have no intention of using a nuclear bomb,” Khamenei said in a November 2006 speech, according to a transcript from his office. "We do not claim to dominate the world, like the Americans, we do not want to dominate the world by force and need a nuclear bomb. Our nuclear bomb and explosive power is our faith.”
But such edicts aren't written in stone. Khamenei's predecessor, Grand Ayatollah Ruhollah Khomeini, issued fatwas that revised his own earlier pronouncements after he took power following the 1979 Islamic Revolution. And anyone who would follow the 83-year-old Khamenei as the country's supreme leader could make his own fatwas revising those previously issued.
For now though, it appears Iran will continue to lean into the atomic threat. Public opinion appears to be shifting as well.
A July telephone survey by IranPoll, a Toronto-based firm, suggests about a third of the Iranian public now support abandoning the Treaty on the Nonproliferation of Nuclear Weapons and pursuing the bomb. A September 2021 poll found less than one in 10 respondents supported such a move.
The margin of error for the firm’s two polls of 1,000 respondents was around 3 percentage points.
A video recently posted online by an account believed to be associated with Iran's paramilitary Revolutionary Guard bluntly made the missile threat on New York. It described Iran as being “one step away from a nuclear breakthrough and from joining (other countries) that have nuclear weapons.”
The video's title? “When Will Iran’s Nuclear Bombs Be Awakened From Their Slumber?”
___
EDITOR’S NOTE — Jon Gambrell, the news director for the Gulf and Iran for The Associated Press, has reported from each of the Gulf Cooperation Council countries, Iran and other locations across the world since joining the AP in 2006. Follow him on Twitter at www.twitter.com/jongambrellAP. | https://www.timesunion.com/news/article/Analysis-Iran-now-speaking-openly-on-nuclear-17350416.php | 2022-08-04T07:50:34Z | https://www.timesunion.com/news/article/Analysis-Iran-now-speaking-openly-on-nuclear-17350416.php | true | 16 |
Martha M. Wlochal, age 72, of Dubuque, passed away at 6:50 p.m., on Monday, August 1, 2022, at MercyOne Dubuque. To celebrate Martha’s life, family and friends may visit from 9:00 a.m. until 10:15 a.m., on Saturday, August 6, 2022, at Holy Trinity Lutheran Church, 1755 Delhi Street. Funeral services will be held at 10:30 a.m., on Saturday, August 6, 2022, at Holy Trinity Lutheran Church, with Jeff Durham officiating. Burial will be in Linwood Cemetery. Behr Funeral Home, 1491 Main Street, is assisting the family.
Martha was born on September 14, 1949, in Milwaukee, WI, daughter of Herbert and Myrtle (Schultz) Wlochal.
Martha was employed with Pepsi Cola in Dubuque for several years. She was a faith filled woman and devoted member of Holy Trinity Lutheran Church. In her free time, Martha enjoyed getting together with friends and family to play cards and every board game imaginable. Martha loved her family and especially looked forward to spending time with her nieces and nephews. She also enjoyed going shopping and was always on the look out for her next outfit. Martha will be greatly missed.
Those left to cherish Martha’s memory include her siblings, Bill (Joni) Wlochal, Dale (Linda) Wlochal and Anna (Bob) Lanka, all of Dubuque, IA; a sister-in-law, Robin Wlochal, Dubuque, IA; and several nieces and nephews.
Martha was preceded in death by her parents; her step-mother, Phyllis Wlochal; her step-father, Samuel Weipert; 2 brothers, Edwin Wlochal and Raymond Wlochal; a nephew, Jesse Wlochal; and several step-brothers and step-sisters.
Martha’s family would like to thank Dr. Roling, Dr. Runde, Dr. Nemmer, and all of the nurses and staff of Dubuque Specialty Care and MercyOne Dubuque for their kindness and the compassionate care they have provided for Martha.
The family will thankfully receive your support through greeting cards and memorials in Martha’s memory which may be mailed to Behr Funeral Home, 1491 Main Street, Dubuque, Iowa 52001, Attn. Martha Wlochal Family.
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Search our full archives for obituaries going as far back as our microfilm records. Reprints are delivered via email as PDF files. | https://www.telegraphherald.com/obituaries/article_32ccd286-60e4-532c-87cc-56ca8726bee7.html | 2022-08-04T07:52:00Z | https://www.telegraphherald.com/obituaries/article_32ccd286-60e4-532c-87cc-56ca8726bee7.html | true | 1 |
ZURICH, Aug. 4, 2022 /PRNewswire/ --
AD HOC ANNOUNCEMENT pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
HIGHLIGHTS
- Revenues +4% yoy organic TDA, up in all 3 GBUs
- Strong performance in Adecco APAC +14%, LHH Recruitment Solutions +12%, and Akkodis +14%
- Investment plan implemented with agility, driving relative revenue growth improvement in Adecco of +400 bps sequentially, in addition to +400 bps improvement in Q1
- Gross profit +7% organic yoy; Permanent Placement fees +38%
- Strong gross margin at 21.1%, +100 bps, driven by portfolio shift, positive mix and pricing
- Solid EBITA margin excl. one-offs of 3.5%, as anticipated, reflecting Adecco's investment plan and moderated contribution from LHH
- 100% ownership of AKKA; €20 million synergies secured for 2022, anticipating year-end run-rate +€40 million
- June exit rate 4% and July volumes modestly above Q2 levels
Denis Machuel, Adecco Group CEO, commented:
"The Group made progress this quarter in several important areas - the Akkodis integration is fully on track and the combined business delivered healthy growth, Adecco improved its market share performance and showed some encouraging signs of turnaround in the US, and the LHH Recruitment Solutions business and digital ventures including Ezra and Hired continued to perform strongly. At the same time, it is clear that there is further opportunity for performance improvement to reach our full potential. In my first month as Group CEO I have spent considerable time visiting our markets, engaging with our operations, listening to our clients, and meeting with our people. I am convinced we have excellent businesses and fantastic people across the organisation. Identifying the levers and then executing on them to improve performance is my absolute priority. The Group continues to focus on executing against its strategy, delivering productivity improvements from the investments we have made, and growing our market share by being the partner of choice to our clients and the talent we serve."
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SOURCE The Adecco Group | https://www.14news.com/prnewswire/2022/08/04/adecco-group-q2-22-results-market-share-momentum-solid-growth-margin/ | 2022-08-04T07:52:08Z | https://www.14news.com/prnewswire/2022/08/04/adecco-group-q2-22-results-market-share-momentum-solid-growth-margin/ | false | 13 |
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Sunak said his rival in the Conservative leadership race would further drive up interest rates, raising mortgage payments, with her plans, reports dpa news agency.
His warning came as the Bank of England was forecast to raise interest rates to the highest level in nearly three decades on Thursday, from 1.25 per cent to 1.75 per cent.
An announcement by the central is scheduled for midday, with experts warning that inflation could peak at 15 per cent, adding to the already painful cost-of-living crisis with spiralling prices.
Meanwhile, the pair are also due to face off in a head-to-head debate on Sky News on Thursday evening.
Sunak has faced attacks from Truss for overseeing rising taxes while in No 11 during the pandemic, as she pledges a more radical plan to slash them.
He has insisted he does want to see taxes come down, but argues it is necessary to bring inflation under control before making major changes.
The former Chancellor stressed there are "crucial differences" between their plans "because timing is everything".
"If we rush through premature tax cuts before we have gripped inflation all we are doing is giving with one hand and then taking away with the other," he said in a statement.
"That would stoke inflation and drive up interest rates, adding to people's mortgage payments. And it would mean every pound people get back in their pockets is nothing more than a down payment on rising prices.
"A policy prospectus devoid of hard choices might create a warm feeling in the short term, but it will be cold comfort when it lets Labour into Number 10 and consigns the Conservative Party to the wilderness of opposition."
Truss countered by saying "we cannot tax our way to growth" and insisting her plans would not drive up prices further.
"My economic plan will get our economy moving by reforming the supply side, getting EU regulation off our statute books, and cutting taxes," she said.
"Delivering bold reforms to the supply side is the way we'll tackle inflation in the long run and deliver sustainable growth. Modest tax cuts, including scrapping a potentially ruinous corporation tax rise that hasn't even come into force, are not inflationary."
Thursday's debate follows a previous head-to-head last week, held on TalkTV on July 26, which was halted after presenter Kate McCann fainted off-camera while Truss was speaking.
McCann later said she was feeling "a little embarrassed, a little bit bruised, but glad to be back and totally fine".
On Wednesday, Truss was boosted by two surveys giving her overwhelming leads over Sunak after the pair took part in a hustings in Cardiff.
She won a 34-percentage point lead over Mr Sunak in a YouGov poll of party members, before a survey for the ConservativeHome website released on Wednesday put her 32 points ahead.
The televised event also saw her blame "the media" for having "misinterpreted" her abandoned policy pledge to cut the public sector wage bill, with Sunak welcoming the U-turn.
She also renewed her attacks on Scottish First Minister Nicola Sturgeon after saying she would ignore the "attention seeker" and launched a new attack on Sturgeon's Welsh counterpart.
Truss described First Minister of Wales Mark Drakeford as a "low-energy version of Jeremy Corbyn", the former Labour leader, and said his successor Keir Starmer was a "plastic patriot".
Either Truss or Sunak will be elected as Conservative Party leader on September 5, the day the Commons returns from its summer recess, and therefore also become Prime Minister.
Boris Johnson continues to serve in a caretaker capacity in the meantime.
--IANS
ksk/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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NY Binghamton NY Zone Forecast for Wednesday, August 3, 2022
_____
110 FPUS51 KBGM 040735
ZFPBGM
Zone Forecast Product for Central New York and Northeast Pennsylvania
National Weather Service Binghamton NY
335 AM EDT Thu Aug 4 2022
NYZ009-042000-
Northern Oneida-
Including the city of Boonville
335 AM EDT Thu Aug 4 2022
.TODAY...Partly sunny. Showers likely with a chance of thunderstorms
this afternoon. Highs in the upper 80s. Southwest winds 5 to 10 mph.
Chance of rain 70 percent.
.TONIGHT...Mostly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows in the mid 60s.
Southwest winds around 5 mph, becoming south after midnight. Chance
of rain 70 percent.
.FRIDAY...Mostly cloudy in the morning, then becoming partly sunny.
A chance of showers and thunderstorms. Humid with highs in the lower
80s. West winds around 5 mph. Chance of rain 50 percent.
.FRIDAY NIGHT...Partly cloudy with a chance of showers and
thunderstorms. Patchy fog. Humid with lows in the mid 60s. Southeast
winds around 5 mph. Chance of rain 50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the mid 80s. South winds around 5 mph. Chance of
rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the mid 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 40 percent.
.SUNDAY NIGHT...Partly cloudy with a 50 percent chance of showers.
Lows in the mid 60s.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the lower 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.TUESDAY...Mostly cloudy with a chance of showers and thunderstorms.
Highs in the mid 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
upper 50s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the mid 70s.
$$
NYZ015-042000-
Yates-
Including the city of Penn Yan
335 AM EDT Thu Aug 4 2022
.TODAY...Partly sunny this morning, then mostly cloudy with showers
likely with a chance of thunderstorms this afternoon. Hot with highs
in the lower 90s. Southwest winds 10 to 15 mph. Chance of rain
70 percent.
.TONIGHT...Mostly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows in the upper 60s.
Southwest winds 5 to 10 mph. Chance of rain 70 percent.
.FRIDAY...Mostly cloudy with a chance of thunderstorms. A chance of
showers in the morning, then showers likely in the afternoon. Humid
with highs in the mid 80s. West winds around 5 mph, becoming north
in the afternoon. Chance of rain 70 percent.
.FRIDAY NIGHT...Partly cloudy with a chance of showers and
thunderstorms. Humid with lows in the upper 60s. South winds around
5 mph. Chance of rain 50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. Southwest winds 5 to 10 mph.
Chance of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the lower 70s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs around 90. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 70s. Chance of rain 40 percent.
.MONDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the mid 80s. Chance of rain 50 percent.
.MONDAY NIGHT...Mostly cloudy with a 50 percent chance of showers.
Lows in the upper 60s.
.TUESDAY...Mostly cloudy with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the upper 70s.
$$
NYZ016-042000-
Seneca-
Including the city of Seneca Falls
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny this morning, then mostly cloudy with showers
likely with a chance of thunderstorms this afternoon. Hot with highs
in the lower 90s. Southwest winds 5 to 10 mph, becoming west this
afternoon. Chance of rain 70 percent.
.TONIGHT...Mostly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows around 70. South
winds 5 to 10 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy in the morning, then becoming partly sunny.
A chance of showers and thunderstorms. Humid with highs in the mid
80s. West winds around 5 mph, becoming northwest around 5 mph in the
afternoon. Chance of rain 50 percent.
.FRIDAY NIGHT...Partly cloudy with a chance of showers and
thunderstorms. Patchy fog. Humid with lows around 70. Southeast
winds around 5 mph. Chance of rain 50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs around 90. South winds around 5 mph. Chance of rain
40 percent.
.SATURDAY NIGHT...Mostly clear. Lows in the lower 70s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the lower 90s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 70s. Chance of rain 40 percent.
.MONDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the mid 80s. Chance of rain 50 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 50 percent.
.TUESDAY...Mostly cloudy with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the upper 70s.
$$
NYZ017-042000-
Southern Cayuga-
Including the city of Auburn
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny this morning, then mostly cloudy with showers
likely with a chance of thunderstorms this afternoon. Highs around
90. Southwest winds 5 to 10 mph, becoming west this afternoon.
Chance of rain 70 percent.
.TONIGHT...Mostly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows in the upper 60s.
South winds 5 to 10 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy with a chance of showers and thunderstorms.
Humid with highs in the mid 80s. West winds around 5 mph, becoming
northwest in the afternoon. Chance of rain 50 percent.
.FRIDAY NIGHT...Partly cloudy with a chance of showers and
thunderstorms. Humid with lows in the upper 60s. Southeast winds
around 5 mph. Chance of rain 50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds around 5 mph. Chance
of rain 40 percent.
.SATURDAY NIGHT...Mostly clear. Lows around 70.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs around 90. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows around
70. Chance of rain 40 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Mostly cloudy with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the mid 70s.
$$
NYZ018-042000-
Onondaga-
Including the city of Syracuse
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny this morning, then mostly cloudy with showers
likely with a chance of thunderstorms this afternoon. Highs in the
lower 90s. Southwest winds 5 to 10 mph with gusts up to 20 mph.
Chance of rain 70 percent.
.TONIGHT...Mostly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows in the upper 60s.
Southwest winds 5 to 10 mph. Chance of rain 70 percent.
.FRIDAY...Mostly cloudy with a chance of showers and thunderstorms.
Humid with highs in the mid 80s. West winds around 5 mph. Chance of
rain 50 percent.
.FRIDAY NIGHT...Partly cloudy with a chance of showers and
thunderstorms. Humid with lows in the upper 60s. South winds around
5 mph. Chance of rain 50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs around 90. South winds around 5 mph. Chance of rain
40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows around 70.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs around 90. Chance of rain 40 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows around
70. Chance of rain 40 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Mostly cloudy with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the mid 70s.
$$
NYZ022-042000-
Steuben-
Including the cities of Corning and Hornell
335 AM EDT Thu Aug 4 2022
.TODAY...Partly sunny. A chance of showers and thunderstorms this
afternoon. Hot with highs in the lower 90s. Southwest winds 10 to
15 mph. Chance of rain 50 percent.
.TONIGHT...Partly cloudy in the evening, then becoming mostly
cloudy. A chance of thunderstorms. A chance of showers. Humid with
lows in the mid 60s. Southwest winds 5 to 10 mph. Chance of rain
50 percent.
.FRIDAY...Mostly cloudy with a chance of thunderstorms. A chance of
showers in the morning, then showers likely in the afternoon. Humid
with highs in the mid 80s. West winds around 5 mph, becoming north
around 5 mph in the afternoon. Chance of rain 70 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms. Lows
in the mid 60s. South winds around 5 mph. Chance of rain 60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. Southwest winds 5 to 10 mph.
Chance of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 30 percent.
.MONDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the mid 80s. Chance of rain 50 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows around
60. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the upper 70s.
$$
NYZ023-042000-
Schuyler-
Including the city of Watkins Glen
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny. A chance of showers and thunderstorms this
afternoon. Hot with highs in the lower 90s. Southwest winds 10 to
15 mph. Chance of rain 50 percent.
.TONIGHT...Mostly cloudy with a chance of showers and thunderstorms.
Humid with lows in the upper 60s. Southwest winds 5 to 10 mph.
Chance of rain 50 percent.
.FRIDAY...Mostly cloudy with a chance of thunderstorms. A chance of
showers in the morning, then showers likely in the afternoon. Humid
with highs in the mid 80s. Southwest winds around 5 mph, becoming
north in the afternoon. Chance of rain 70 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms. Humid
with lows in the upper 60s. South winds around 5 mph. Chance of rain
60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs around 90. Southwest winds 5 to 10 mph. Chance of
rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs around 90. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 30 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the upper 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the upper 70s.
$$
NYZ024-042000-
Chemung-
Including the city of Elmira
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny. A chance of showers and thunderstorms this
afternoon. Hot with highs in the mid 90s. Southwest winds 5 to
10 mph with gusts up to 20 mph. Chance of rain 50 percent.
.TONIGHT...Partly cloudy in the evening, then becoming mostly
cloudy. A chance of showers and thunderstorms. Humid with lows in
the mid 60s. Southwest winds 5 to 10 mph. Chance of rain 50 percent.
.FRIDAY...Mostly cloudy with a chance of thunderstorms. A chance of
showers in the morning, then showers likely in the afternoon. Humid
with highs in the upper 80s. Southwest winds around 5 mph, becoming
north around 5 mph in the afternoon. Chance of rain 70 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms.
Patchy fog. Humid with lows in the mid 60s. Southeast winds around
5 mph. Chance of rain 60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs around 90. Southwest winds 5 to 10 mph. Chance of
rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the lower 90s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 30 percent.
.MONDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 50 percent.
.MONDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the lower 80s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers. Highs around 80.
Chance of rain 30 percent.
$$
NYZ025-042000-
Tompkins-
Including the city of Ithaca
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny. Showers likely with a chance of thunderstorms
this afternoon. Hot with highs in the mid 90s. Southwest winds 5 to
10 mph, becoming west this afternoon. Chance of rain 70 percent.
.TONIGHT...Partly cloudy in the evening, then becoming mostly
cloudy. A chance of thunderstorms. Showers likely, mainly in the
evening. Humid with lows in the upper 60s. Southwest winds 5 to
10 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy with a chance of showers and thunderstorms.
Humid with highs in the mid 80s. West winds around 5 mph. Chance of
rain 50 percent.
.FRIDAY NIGHT...Partly cloudy with a chance of showers and
thunderstorms. Humid with lows in the upper 60s. South winds around
5 mph. Chance of rain 50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds 5 to 10 mph. Chance
of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 30 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the upper 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the upper 70s.
$$
NYZ036-042000-
Madison-
Including the cities of Hamilton and Oneida
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny. Showers likely with a chance of thunderstorms
this afternoon. Highs in the lower 90s. Southwest winds 5 to 10 mph
with gusts up to 20 mph. Chance of rain 70 percent.
.TONIGHT...Mostly cloudy. Showers and thunderstorms likely, mainly
in the evening. Humid with lows in the upper 60s. Southwest winds
5 to 10 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy with a chance of showers and thunderstorms.
Humid with highs in the mid 80s. West winds around 5 mph. Chance of
rain 50 percent.
.FRIDAY NIGHT...Mostly cloudy in the evening, then becoming partly
cloudy. A chance of showers and thunderstorms. Patchy fog. Humid
with lows in the mid 60s. South winds around 5 mph. Chance of rain
50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds around 5 mph. Chance
of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 40 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 40 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows around
60. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the mid 70s.
$$
NYZ037-042000-
Southern Oneida-
Including the cities of Rome and Utica
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny. Showers likely with a chance of thunderstorms
this afternoon. Highs in the lower 90s. Southwest winds 5 to 10 mph,
becoming west with gusts up to 20 mph this afternoon. Chance of rain
60 percent.
.TONIGHT...Mostly cloudy. Showers and thunderstorms likely, mainly
in the evening. Humid with lows in the upper 60s. Southwest winds
around 5 mph, becoming south around 5 mph after midnight. Chance of
rain 70 percent.
.FRIDAY...Mostly cloudy in the morning, then becoming partly sunny.
A chance of showers and thunderstorms. Humid with highs in the mid
80s. West winds around 5 mph. Chance of rain 50 percent.
.FRIDAY NIGHT...Partly cloudy with a chance of showers and
thunderstorms. Patchy fog. Humid with lows in the upper 60s. South
winds around 5 mph. Chance of rain 50 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds around 5 mph. Chance
of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 40 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 40 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Mostly cloudy with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny. Highs in the mid 70s.
$$
NYZ044-042000-
Cortland-
Including the city of Cortland
335 AM EDT Thu Aug 4 2022
.TODAY...Partly sunny. Showers likely with a chance of thunderstorms
this afternoon. Hot with highs in the lower 90s. Southwest winds
5 to 10 mph. Chance of rain 70 percent.
.TONIGHT...Mostly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows in the mid 60s.
Southwest winds around 5 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy. A chance of showers and thunderstorms in
the morning, then showers and thunderstorms likely in the afternoon.
Humid with highs in the mid 80s. West winds around 5 mph. Chance of
rain 60 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms.
Patchy fog. Humid with lows in the mid 60s. South winds around
5 mph. Chance of rain 60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds around 5 mph. Chance
of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 40 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 40 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows around
60. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers. Highs in the mid
70s. Chance of rain 30 percent.
$$
NYZ045-042000-
Chenango-
Including the city of Norwich
335 AM EDT Thu Aug 4 2022
.TODAY...Partly sunny. Showers likely with a chance of thunderstorms
this afternoon. Highs in the lower 90s. Southwest winds 5 to 10 mph.
Chance of rain 70 percent.
.TONIGHT...Mostly cloudy in the evening, then becoming partly
cloudy. A chance of thunderstorms. Showers likely, mainly in the
evening. Humid with lows in the mid 60s. Southwest winds around
5 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy. A chance of showers and thunderstorms in
the morning, then showers and thunderstorms likely in the afternoon.
Humid with highs in the mid 80s. West winds around 5 mph. Chance of
rain 60 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms.
Patchy fog. Humid with lows in the mid 60s. South winds around
5 mph. Chance of rain 60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds around 5 mph. Chance
of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 40 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 40 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers. Highs in the mid
70s. Chance of rain 30 percent.
$$
NYZ046-042000-
Otsego-
Including the city of Oneonta
335 AM EDT Thu Aug 4 2022
.TODAY...Mostly sunny. A chance of showers and thunderstorms this
afternoon. Highs in the lower 90s. Southwest winds 5 to 10 mph.
Chance of rain 50 percent.
.TONIGHT...Mostly cloudy in the evening, then becoming partly
cloudy. A chance of thunderstorms. Showers likely, mainly in the
evening. Humid with lows in the mid 60s. Southwest winds around
5 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy with a chance of showers and thunderstorms
in the morning, then partly sunny with showers and thunderstorms
likely in the afternoon. Humid with highs in the mid 80s. West winds
around 5 mph. Chance of rain 70 percent.
.FRIDAY NIGHT...Partly cloudy with showers likely with a chance of
thunderstorms. Patchy fog. Humid with lows in the mid 60s. South
winds around 5 mph. Chance of rain 60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the mid 80s. Southwest winds around 5 mph.
Chance of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
upper 60s. Chance of rain 30 percent.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Mostly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers. Highs in the mid
70s. Chance of rain 30 percent.
$$
NYZ055-042000-
Tioga-
Including the cities of Owego and Waverly
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Partly sunny. Showers likely with a chance of thunderstorms
this afternoon. Hot with highs in the mid 90s. Southwest winds 5 to
10 mph. Chance of rain 70 percent.
.TONIGHT...Partly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows in the mid 60s.
Southwest winds 5 to 10 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy with a chance of thunderstorms. A chance of
showers in the morning, then showers likely in the afternoon. Humid
with highs in the upper 80s. West winds around 5 mph, becoming
northwest around 5 mph in the afternoon. Chance of rain 60 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms.
Patchy fog. Humid with lows in the mid 60s. South winds around
5 mph. Chance of rain 60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds 5 to 10 mph. Chance
of rain 40 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs around 90. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.MONDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 50 percent.
.MONDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the lower 80s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers. Highs in the
upper 70s. Chance of rain 30 percent.
$$
NYZ056-042000-
Broome-
Including the city of Binghamton
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Mostly sunny. A chance of showers and thunderstorms this
afternoon. Hot with highs in the lower 90s. Southwest winds 5 to
10 mph, becoming west with gusts up to 20 mph this afternoon. Chance
of rain 50 percent.
.TONIGHT...Partly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Humid with lows in the upper 60s.
Southwest winds 5 to 10 mph. Chance of rain 60 percent.
.FRIDAY...Mostly cloudy with a chance of thunderstorms. A chance of
showers in the morning, then showers likely in the afternoon. Humid
with highs in the mid 80s. West winds around 5 mph. Chance of rain
60 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms.
Patchy fog. Humid with lows in the upper 60s. South winds around
5 mph. Chance of rain 60 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the upper 80s. South winds around 5 mph. Chance
of rain 50 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the upper 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the lower 80s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers. Highs in the
upper 70s. Chance of rain 30 percent.
$$
NYZ057-042000-
Delaware-
Including the cities of Delhi and Walton
335 AM EDT Thu Aug 4 2022
.TODAY...Mostly sunny. A chance of showers and thunderstorms this
afternoon. Hot with highs in the lower 90s. Southwest winds 5 to
10 mph. Chance of rain 50 percent.
.TONIGHT...Partly cloudy with a chance of thunderstorms. Showers
likely, mainly in the evening. Lows in the mid 60s. Southwest winds
around 5 mph. Chance of rain 60 percent.
.FRIDAY...Partly sunny. A chance of showers and thunderstorms in the
morning, then showers and thunderstorms likely in the afternoon.
Humid with highs in the mid 80s. West winds around 5 mph. Chance of
rain 70 percent.
.FRIDAY NIGHT...Showers likely with a chance of thunderstorms.
Patchy fog. Lows in the mid 60s. South winds around 5 mph. Chance of
rain 70 percent.
.SATURDAY...Partly sunny with a chance of showers and thunderstorms.
Humid with highs in the mid 80s. Southwest winds around 5 mph.
Chance of rain 50 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the mid 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy. Lows in the mid 60s.
.MONDAY...Showers likely with a chance of thunderstorms. Highs in
the mid 80s. Chance of rain 60 percent.
.MONDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 70s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers. Highs in the
upper 70s. Chance of rain 30 percent.
$$
NYZ062-042000-
Sullivan-
Including the city of Monticello
335 AM EDT Thu Aug 4 2022
...HEAT ADVISORY IN EFFECT FROM 11 AM THIS MORNING TO 8 PM EDT THIS
EVENING...
.TODAY...Mostly sunny. A chance of showers and thunderstorms this
afternoon. Hot with highs in the mid 90s. Southwest winds 5 to
10 mph. Chance of rain 50 percent.
.TONIGHT...Partly cloudy. A chance of showers and thunderstorms,
mainly in the evening. Humid with lows in the mid 60s. West winds
around 5 mph. Chance of rain 50 percent.
.FRIDAY...Partly sunny. A chance of showers and thunderstorms in the
morning, then showers and thunderstorms likely in the afternoon.
Humid with highs in the upper 80s. West winds around 5 mph. Chance
of rain 70 percent.
.FRIDAY NIGHT...Showers and thunderstorms likely. Patchy fog. Humid
with lows in the mid 60s. Southwest winds around 5 mph. Chance of
rain 70 percent.
.SATURDAY...Mostly cloudy with a chance of showers and
thunderstorms. Patchy fog. Humid with highs in the upper 80s.
Southwest winds around 5 mph. Chance of rain 50 percent.
.SATURDAY NIGHT...Partly cloudy. Lows in the upper 60s.
.SUNDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 30 percent.
.SUNDAY NIGHT...Partly cloudy. Lows in the mid 60s.
.MONDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the upper 80s. Chance of rain 50 percent.
.MONDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
mid 60s. Chance of rain 50 percent.
.TUESDAY...Partly sunny with a chance of showers and thunderstorms.
Highs in the lower 80s. Chance of rain 50 percent.
.TUESDAY NIGHT...Partly cloudy with a chance of showers. Lows in the
lower 60s. Chance of rain 50 percent.
.WEDNESDAY...Partly sunny with a chance of showers and
thunderstorms. Highs around 80. Chance of rain 30 percent.
$$
_____
Copyright 2022 AccuWeather | https://www.myplainview.com/weather/article/NY-Binghamton-NY-Zone-Forecast-17350419.php | 2022-08-04T08:01:52Z | https://www.myplainview.com/weather/article/NY-Binghamton-NY-Zone-Forecast-17350419.php | true | 11 |
How to book an Uber ride using WhatsApp in Delhi-NCR? Follow these steps
Now, you can book an Uber ride on your WhatsApp in the Delhi-National Capital region. Yes, you heard it right. The messaging platform and the cab service provider unveiled the new feature in Hindi and English which is now available to the commuters in the Delhi-NCR region.
The feature allows riders in the capital region to book an Uber ride through WhatsApp's chatbot called the WhatsApp to Ride (WA2R). The feature's pilot was successfully tested in Lucknow last year, Uber and WhatsApp said in a statement. The chatbot is powered by a global firm called Infobip.
The chatbot has been built on WhatsApp's Business platform and the users can use its multilingual capabilities. Uber stated that the Lucknow Pilot showed that the W2AR users were younger than the average Uber App user with almost 50 per cent of them being less than 25 years old.
ALSO READ: WhatsApp banned 22 lakh Indian accounts in June this year
Now, talking about the process, WhatsApp users in Delhi-NCR region can book an Uber ride either by messaging to the cab provider's business account number, scanning a QR code or just by clicking a link directly to open an Uber WhatsApp chat.
The customers will be asked to provide pickup and drop locations, followed by upfront fare details and the driver's expected time of arrival.
Here is a stepwise process of how to book an Uber ride via WhatsApp
STEP 1: Message to this number directly: +917292000002
STEP 2: Click this link to access the chat window: https://wa.me/917292000002?text=Hi%20Uber
STEP 3: Scanning a QR code which appears get to the chat window.
Uber assured that riders will get access to the same safety features and insurance protections as those who book trips via the Uber app. They will also be informed about the driver's details and license plate on bookiing. They will be able to track the location of the driver en route to the pick up point and also be able to speak to him/her using a masked number.
As for WhatsApp, it will inform the rider about the safety guidelines including how to reach Uber in case of emergencies. On selecting the emergency option, the customer will receive a call from the cab provider's customer support team. Uber riders will also have access to its safety line number to call, if needed, until 30 mins after the trip ends. This video explains the WA2R flow while booking an Uber ride.
“Drivers on Uber’s platform, however, will see no change in their experience with rides booked via WhatsApp. The service is available to both new and existing users who registered with only a phone number on Uber,” the Uber statement said. | https://www.hindustantimes.com/technology/how-to-book-an-uber-ride-using-whatsapp-in-delhi-ncr-follow-these-steps-101659593039958.html | 2022-08-04T08:06:25Z | https://www.hindustantimes.com/technology/how-to-book-an-uber-ride-using-whatsapp-in-delhi-ncr-follow-these-steps-101659593039958.html | true | 2 |
UPDATED: Missing Plane Crashes in South Haven Killing Both Pilots
(This is an ongoing, developing story)
UPDATE: 12:30 PM: More details are emerging on a plane crash in South Haven.
Authorities have confirmed the two people killed were both men, in their 70s, and accomplished pilots who were doing training flights nearby. Calls began to come in abouta missing and overdue plane shortly after they didn't return.
The area where the plane was found could not be accessed easily by foot or vehicle, and had to be identified by a helicopter. Sgt. Kyle Griffith can be seen in the tweet below describing the difficulty in finding the plane.
ORIGINAL STORY - Authorities in South Haven, Michigan, have reported a plane crash Wednesday morning, allegedly killing both pilots on board.
According to flight plans, the two pilots were training together, and took of on Tuesday. One of the pilots was an instructor, and the other an experienced pilot.
Officials reported the plane missing on Tuesday when they didn't check in on their flight plan. They left South Haven Regional Airport on Tuesday morning, and hadn't made contact since.
After a night of searching, South Haven Police found it, crashed in a wooded area near 12th Avenue and 72nd Street early Wednesday morning.
South Haven police then notified the FAA that they had found the missing aircraft, and reported both pilots dead.
Authorities involved in the search last night included the FAA, Michigan State Police, Van Buren County Sheriff's Department, the Allegan County Sheriff's Office, and the United States Air Force.
The names of the pilots are not being released at this time, and no cause for the accident is being reported. It will likely be some time before an investigation can conclude what happened.
This isn't the first aircraft accident to happen in western Michigan lately. On July 15th, a small plane crashed in Oceana County and killed two people.
That crash was blamed on rain and poor visibility. Authorities identified the pilot as 56-year-old Raymond Gundy of Muskegon, and his passenger, 48-year-old Troy Caris of Holton.
As more information is available on this developing story in South Haven, we will update this information. | https://wkfr.com/updated-missing-plane-crashes-in-south-haven-killing-both-pilots/ | 2022-08-04T08:08:49Z | https://wkfr.com/updated-missing-plane-crashes-in-south-haven-killing-both-pilots/ | true | 2 |
Russia-Ukraine war: List of key events, day 162
As the Russia-Ukraine war enters its 162nd day, we take a look at the main developments.
Published On 4 Aug 2022
Here are the key events so far on Thursday, August 4.
Get the latest updates here.
Fighting
- Ukrainian presidential adviser Oleksiy Arestovych said Russia’s eastern offensive was aimed at forcing Ukraine to divert troops from the Zaporizhzhia region.
- Pavlo Kyrylenko, governor of the Donetsk region, said three civilians were killed in Bakhmut, Maryinka and Shevchenko and five wounded in the past 24 hours.
- The governors of Mykolaiv, Kharkiv and Dnipropetrovsk reported that their regions had been shelled overnight, causing damage to civilian infrastructure and houses.
- Russian Deputy Defence Minister Alexander Fomin said Kyiv and Moscow have exchanged prisoners and the bodies of those killed in the conflict 27 times since the war began on February 24.
Diplomacy
- Ukraine’s President Volodymyr Zelenskyy appealed for direct talks with China’s President Xi Jinping, urging Beijing to use its political and economic influence on Russia to help end the war in his country.
- Former German Chancellor Gerhard Schroeder, an ally of Russian President Vladimir Putin, said Moscow wants to negotiate a solution to the conflict, adding, “a first success is the grain deal, perhaps that can be slowly expanded to a ceasefire”.
- Ukraine dismissed Schroeder’s comments, saying any dialogue would be contingent on a Russian ceasefire and the withdrawal of Russian troops.
- The United States Senate and the Italian Parliament approved Finland and Sweden’s accession to NATO.
Economy
- The first ship carrying Ukrainian grain to world markets since Russia’s invasion left Turkey for Lebanon on Wednesday, as Ukraine said 17 other vessels were “loaded and waiting permission to leave”.
- Ukraine has to export at least 10 million tonnes of grain to help bring down its budget deficit, which is running at $5bn a month, Zelenskyy said.
- German Chancellor Olaf Scholz said Russia had no reason to hold up the return of a gas turbine for the Nord Stream 1 pipeline that was serviced in Canada but has since been stranded in Germany.
- But Russian energy giant Gazprom said the delivery of the turbine was “impossible” due to sanctions on Moscow.
Source: Al Jazeera and news agencies | https://www.aljazeera.com/news/2022/8/4/russia-ukraine-war-list-of-key-events-day-162 | 2022-08-04T08:12:54Z | https://www.aljazeera.com/news/2022/8/4/russia-ukraine-war-list-of-key-events-day-162 | false | 2 |
The US on Tuesday blacklisted Russian President Vladimir Putin’s purported girlfriend and the tycoon owner of the second-largest estate in London in the latest round of sanctions over the invasion of Ukraine.
Also hit with US business bans were several other oligarchs believed to be close to Putin, four officials Russia has named to administer occupied territories in Ukraine, and about two dozen high-tech institutes and companies, including key state-backed electronics entities.
The US Department of the Treasury announced sanctions on Putin associate and billionaire Andrey Grigoryevich Guryev, who owns the Witanhurst estate, the second-largest estate in London after Buckingham Palace. Guryev is the founder and former deputy chairman of PhosAgro, a major supplier to global fertilizer markets.
Photo: AFP
He and his son were hit with financial sanctions, which ban US businesses — including banks with US branches — from transactions with them, and freeze their assets under US jurisdictions.
The department also blacklisted Guryev’s Caribbean-based 81m yacht, the Alfa Nero, which puts it at risk of seizure.
However, the department said that the Alfa Nero “has reportedly shut off its location tracking hardware in order to avoid seizure.”
The department also imposed sanctions on Alina Kabaeva, a former Olympic gymnast widely described as Putin’s girlfriend, and Natalya Popova, the wife of Kirill Dmitriev, who manages the Russian government’s sovereign wealth fund. Popova works for technology firm Innopraktika, which is run by one of Putin’s daughters, the department said.
“As innocent people suffer from Russia’s illegal war of aggression, Putin’s allies have enriched themselves and funded opulent lifestyles,” US Secretary of the Treasury Janet Yellen said in a statement. “The Treasury Department will use every tool at our disposal to make sure that Russian elites and the Kremlin’s enablers are held accountable for their complicity in a war that has cost countless lives.”
Viktor Filippovich Rashnikov, one of Russia’s largest taxpayers, and two subsidiaries of his MMK, which is among the world’s largest steel producers, also were hit with sanctions.
In a joint action, the US Department of State imposed sanctions, including visa restrictions, on oligarchs “running massive revenue-generating companies,” including Dmitry Aleksandrovich Pumpyanskiy, Andrey Igorevich Melnichenko and Alexander Anatolevich Ponomarenko.
At least two Hong Kong dancers were injured on Thursday after being hit by a falling screen at a concert of boy band Mirror. Footage of the incident circulated online showed a group of white-clad dancers performing onstage at the Hong Kong Coliseum when a giant overhead video screen fell and crushed a man. The screen then toppled onto at least one other person before the remaining performers rushed to help. Mirror manager Ahfa Wong (黃慧君) later took to the stage to apologize and asked the audience to leave, video clips circulated online showed. Two male dancers were taken to hospital while conscious shortly
‘SPIRITUAL SALES’: Experts have accused the South Korean-founded organization of exploiting members using promises of absolution and guilt over Japan’s wartime past The assassination of former Japanese prime minister Shinzo Abe by a man resentful of the Unification Church has resurfaced years of controversy over the group. Police say that Tetsuya Yamagami targeted Abe because he believed the former prime minister supported a “certain group” to which the man’s mother had made large donations. In a letter published by local media, Yamagami accused Abe of supporting the Unification Church and expressed resentment toward the group, which has confirmed his mother’s membership. Former followers, lawyers and academics who study the church say reported details on Yamagami’s family fit a common pattern in Japan. Yamagami’s mother reportedly joined
COLLISION WITH REALITY: The leading contender in the British Conservative Party would face harsh economic and political obstacles to her bold reforms, analysts said British Secretary of State Liz Truss looks to be an increasingly strong favorite to overcome British Member of Parliament Rishi Sunak to replace Boris Johnson as British Conservative Party leader and prime minister. Her next target to convince would be the British civil service. The 47-year-old has promised to start cutting taxes immediately if she turns her wide polling lead into a victory over Sunak when the governing Conservatives announce their next leader on Sept. 5. Truss has brushed off concerns about surging inflation and public debt to pin the blame for the UK’s lackluster performance on the stale thinking of the economic
URGENT CALL: The head of the International Atomic Energy Agency pleaded to gain access to the plant, saying ‘every principle of nuclear safety has been violated The UN’s nuclear chief on Tuesday warned that Europe’s largest nuclear power plant in Ukraine “is completely out of control,” and issued an urgent plea to Russia and Ukraine to quickly allow experts to visit the sprawling complex to stabilize the situation and avoid a nuclear accident. International Atomic Energy Agency (IAEA) Director-General Rafael Grossi said in an interview that the situation is getting more perilous every day at the Zaporizhzhya Nuclear Power Plant in the southeastern city of Enerhodar, which Russian troops seized in early March, soon after their Feb. 24 invasion of Ukraine. “Every principle of nuclear safety has been | https://www.taipeitimes.com/News/world/archives/2022/08/04/2003782969 | 2022-08-04T08:18:38Z | https://www.taipeitimes.com/News/world/archives/2022/08/04/2003782969 | true | 3 |
• James D. Garret, New Blockhouse Road, Maryville, reported at 9:31 a.m. Aug. 2 that someone had stolen his handgun and holster from his truck. The total loss was estimated at $550.
• Mark Dowlen, Cinema Drive, Maryville, reported at 10:57 a.m. Aug 2 that someone had stolen a teacher laptop from Eagleton Middle School. The total loss was estimated at $450.
Maryville
• Preston Earl Beeler, Scenic Drive, Maryville, reported at 5:22 p.m. Aug. 2 that someone had stolen his Bashlin Gaffs and a handgun from his home. The total loss was estimated at $1,200.
• Target, 800 Watkins Road, Maryville, reported at 3:45 p.m. Aug. 2 that someone had removed the security devices from three JBL speakers and left without paying. The total loss was $149.97.
Alcoa
• Ronald L. Brown, Louisville, reported at 1:39 p.m. Aug. 2 that someone had taken his handgun from his car. The gun was found to have been recovered by Blount County Sheriff's deputies Aug. 1.
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Here Come the Ducks
The Great American Duck Race is back and this year’s theme is “Racing to save the day.” The events are a collaboration sharing the “local hero” theme for 2022. “After two very difficult years, we want to come together and thank each hero in our community by dedicating the 43rd Annual Great American Duck Race to them,” organizers said in a press release. Events include the Duck Royalty Pageant and the Tournament of Ducks Parade that take place during the weekend’s events.
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Remembering Hiroshima, Nagasaki
The atomic bombings of Hiroshima and Nagasaki will be commemorated at 12:30 p.m. Sunday, Aug. 7, in the pavilion at Gough Park, at the corner of 12th and North Pope streets in Silver City. This ceremony of remembrance begins with a period of silence, followed by an opportunity to share reflections in an atmosphere of reverence and respect. All are welcome. Participants are asked to bring their own chairs. Before and after the ceremony, participants may view historical posters on the development, decision making, and effects of the atomic bombings.
New ticket prices for Deming school athletics
DEMING – In preparation for the 2022-23 Deming Public Schools athletic and activities schedule, the Deming High School Athletic/Activities Office reminds you of the district’s new event ticket prices and the distribution of athletic passes. Ticket prices for all athletic events at Red Mountain Middle School will be...
President Shepard draws praise from WNMU Regents
Silver City, NM — On Tuesday, members the Western New Mexico University Board of Regents discussed their evaluation of the university president Dr. Joseph Shepard and rated his performance as exceptional, noting that as a result, a bonus would automatically be awarded. “This is basically our evaluation of the... | https://www.newsbreak.com/news/2689143257978/carnitas-musica-y-mas-fesival | 2022-08-04T08:32:27Z | https://www.newsbreak.com/news/2689143257978/carnitas-musica-y-mas-fesival | true | 1 |
Liz Cheney Gets Desperate, Uses Famous Hollywood Liberal to Get People of Wyoming to Vote for Her
Wyoming Republicans may have come to dislike Rep. Liz Cheney for turning on the GOP and joining the Democrats’ witch hunt over the Jan. 6, 2021, Capitol incursion, but it seems like Hollywood liberals still love her.
So she has that going for her. Which is nice.
Cheney, the daughter of former Vice President Dick Cheney, is in serious trouble in the polls with the Wyoming primaries two weeks away. Polls have placed her as far as 30 points behind challenger Harriet Hageman in the GOP race, according to Newsweek.
Last week, the Casper Star-Tribune reported its latest poll of registered voters in Wyoming showed Cheney with a measly 30 percent of support to 52 percent for Hageman, who was endorsed by former President Donald Trump. And early voting has already begun.
The congresswoman, of course, voted to impeach Trump in the wake of the supposed “insurrection” and then compounded that insolence by being one of only two turncoat Republicans to give cover to the Democrats’ Jan. 6 kangaroo committee.
Recrimination was swift for Cheney. Soon after her vote to impeach Trump, the Wyoming GOP voted to censure her actions, and it wasn’t even close. Only eight Republicans of the 74-member central committee voted against the censure.
Still, despite the election hanging over her head like the Sword of Damocles, Cheney was delighted when liberal actor Kevin Costner — who endorsed Pete Buttigieg in the 2020 Democratic primary race — took to social media this week to announce his support for her doomed campaign.
Despite having no lasting ties to Wyoming, Costner was seen on the set of “Yellowstone,” his TV series about a dysfunctional, corrupt family ranch in Montana, wearing a T-Shirt with “I’m for Liz Cheney” emblazoned on it.
Cheney was thrilled, sharing the photo of the Hollywood star’s endorsement on Twitter and declaring, “Real men put country over party.”
Real men put country over party. pic.twitter.com/7FaJpahtll
— Liz Cheney (@Liz_Cheney) August 1, 2022
One wonders whether those thousands of Wyoming men who are voting for Hageman appreciate that Cheney is suggesting they aren’t real men.
CNN recently tried to gauge state voters’ level of support for the congresswoman and was shocked at how dismal her chances of re-election seem.
The Cowboy State apparently is ready to move on from the Cheney era.
Randi Kaye of CNN’s “Anderson Cooper 360,” went to the Frontier Days rodeo in Cheyenne in a desperate attempt to find Cheney supporters. The result was disheartening for those “real men” Cheney is all excited about.
Kaye found a mere two Cheney supporters among scores of detractors — both men and women — in a video that is certainly painful to watch for the congresswoman’s campaign.
Will Cheney’s finger-wagging with the help of Hollywood elites win these grassroots Wyoming voters back to her side? One could hardly think it would be a winning strategy.
For his part, Trump has gone all in to defeat Cheney. During a May rally in Casper, for instance, he not only took a slap at the congresswoman, but he also blasted her whole family as “globalists and warmongers.”
“The Cheneys are die-hard globalists and warmongers who have been plunging us into new conflicts for decades.”
Donald Trump rips Liz Cheney at the #SaveAmerica rally in Casper, Wyoming. #TrumpRally
MORE: https://t.co/icM1vd61Au pic.twitter.com/Lcool7idUB
— Newsmax (@newsmax) May 28, 2022
He predicted the people of Wyoming would soon rise up to tell Cheney, “You’re fired.”
President Trump Speaks in Wyoming “The people of Wyoming are going to tell her ‘Liz, you’re FIRED.” pic.twitter.com/tchgC0kQVG
— RSBN 🇺🇸 (@RSBNetwork) May 28, 2022
Cheney might have the support of super-rich members of the Hollywood elite who have no ties to Wyoming, but that probably won’t help her too much come Aug. 16.
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards. | https://www.westernjournal.com/liz-cheney-gets-desperate-uses-famous-hollywood-liberal-get-people-wyoming-vote/?utm_source=facebook&utm_medium=patriotupdate&utm_campaign=lminetwork&utm_content=2022-08-04 | 2022-08-04T08:35:18Z | https://www.westernjournal.com/liz-cheney-gets-desperate-uses-famous-hollywood-liberal-get-people-wyoming-vote/?utm_source=facebook&utm_medium=patriotupdate&utm_campaign=lminetwork&utm_content=2022-08-04 | true | 39 |
A last-minute addition to the athletics team, Tejaswin Shankar on Wednesday became the first Indian to win a men's high jump medal in the Commonwealth Games as he clinched a bronze in the final.
The national record holder cleared 2.22m to finish third on countback. Donald Thomas of Bahamas and England's Joel Clarke-Khan also cleared 2.22m but they needed more than one attempt to do it while Shankar was successful in single try.
In women's shot put final, Manpreet Kaur finished 12th and last with a disappointing best throw of 15.69m.
The 23-year-old Shankar could not soar over 2.25m in two attempts. He then went for 2.28m in his third and final attempt in a bid to win a silver but failed.
Before Shankar, the best position an Indian had achieved in men's high jump in CWG was by Bhim Singh who cleared 2.06m in the 1970 edition in Edinburgh.
(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.) | https://www.freepressjournal.in/sports/watch-video-how-high-jumper-tejaswin-shankar-won-bronze-at-commonwealth-games-2022 | 2022-08-04T08:44:27Z | https://www.freepressjournal.in/sports/watch-video-how-high-jumper-tejaswin-shankar-won-bronze-at-commonwealth-games-2022 | true | 1 |
One person was killed and three others injured on Wednesday afternoon in a shooting in Los Angeles in the U.S. state of California, police said.
Patrol officers responded to a radio call for a traffic collision at about 2:25 p.m. (2125 GMT) in Panorama City, a neighborhood in Los Angeles. Upon arrival, officers found multiple victims with apparent gunshot wounds, the local police department tweeted.
Officials said that one victim was pronounced deceased at scene and three other victims were rushed to a local hospital and in stable condition.
“No suspect information at this time. There is a traffic collision at scene. We cannot confirm its relation to the incident at this time,” the department added, noting that the investigation is underway.
Police officers were searching for a suspect who fled in a dark-colored car, and might have been wearing a white shirt and dark shorts, CBS Los Angeles Television station reported. ■ | http://famagusta-gazette.com/2022/08/04/1-killed-3-injured-in-los-angeles-shooting/ | 2022-08-04T08:49:50Z | http://famagusta-gazette.com/2022/08/04/1-killed-3-injured-in-los-angeles-shooting/ | true | 4 |
MILAN (AP) — Italy’s former firebrand interior minister, Matteo Salvini, is campaigning to get his old job back with a stop Thursday on Italy’s southernmost island of Lampedusa, the gateway for tens of thousands of migrants arriving in Italy each year across the perilous central Mediterranean Sea.
Salvini is sounding the alarm that the migrant reception center on the island, which would rather be known as a summertime tourist destination, is “collapsing,” with more than 1,500 people crammed into a space designed, by his count, for 357.
“An absolute shame for Italy and for Europe,” Salvini said, accusing his successor of hiding the actual numbers of migrants coming through Lampedusa with transfers to Sicily and elsewhere.
Salvini is making immigration a key part of his campaign for Italy's parliamentary election next month. The Sept. 25th vote came after his right-wing anti-migrant League party, along with two other parties, yanked their support for outgoing Premier Mario Draghi’s 17-month-old pandemic unity government.
During Salvini’s short but dramatic tenure as interior minister in 2018-19, migrant arrivals in Italy dropped sharply as he pursued policies of deterrence, including instituting long government delays in assigning safe ports to rescue ships. He is currently on trial in Sicily, charged with kidnapping in one such case.
While his League led the right-wing coalition in Italy's 2018 election, it sank in popularity after joining Draghi’s government. It is now lagging in the polls behind another right-wing coalition partner, the far-right Brothers of Italy led by Giorgia Meloni.
Now, Salvini is fighting for his political relevance. If the right-wing coalition wins the Sept. 25 vote, the leader of the party with the most votes would be tapped as premier to form a new government and lesser parties will vie for Cabinet seats. Meloni is seeking to become Italy's first female premier.
Not everyone on the island of Lampedusa is keen to be part of Salvini’s electoral rhetoric. The island’s mayor is worried about the impact on tourism, and insists the current system of transferring migrants to Sicily and beyond was averting the emergency situations experienced during peak arrival years of from 2014 to 2016.
“The crucial element is not to slow down or jam the transfer to the mainland,” Mayor Filippo Mannino said.
Flavio Di Giacomo, a spokesman with the Italian offices of the International Organization for Migration, said while migrant arrivals are up this year by about one-third over 2021, they are still well below the 120,000 to 180,000 registered annually from 2014-2016.
“These are not emergency numbers. We are not facing a numerical emergency. But we are facing a humanitarian emergency,’’ Di Giacomo said, citing 905 people who have died or gone missing at sea this year.
____
David Lohmueller in Lampedusa, Sicily and Paolo Santalucia in Rome contributed.
___
Follow all AP stories on global migration issues at https://apnews.com/hub/migration. | https://www.ajc.com/news/nation-world/italys-salvini-puts-focus-on-migration-ahead-of-sept-vote/DMKF5UU6CBBMPPQZRHHZOXVPDQ/ | 2022-08-04T08:53:03Z | https://www.ajc.com/news/nation-world/italys-salvini-puts-focus-on-migration-ahead-of-sept-vote/DMKF5UU6CBBMPPQZRHHZOXVPDQ/ | false | 32 |
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Here’s Every Zodiac Sign’s Horoscope For August 2022
Throughout the beginning of August, you’re going to act a little selfish and do whatever you want when the moment strikes. Then, when Virgo season starts on August 23, you will feel extra generous. You will go out of your way to help others. You will spread kindness and try to make this world a slightly more positive place.
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Left-wing groups are warning GOP amendments on migration could sink the Democrats’ world-saving, climate change “reconciliation” bill, as soon as this weekend.
“I made it very clear at the caucus [meeting] that adoption of such amendments, if they were to stay in the final [bill], would kill reconciliation,” Sen. Robert Menendez (D-NJ), according to an August 2 report in a Bloomberg media site.
On Tuesday, RollCall.com described Mendenz’s written statement as a warning to Democrats “against voting for Republican amendments on issues such as immigration that could threaten the overall reconciliation legislation.”
The same day, 286 left-wing groups posted a letter urging Democrats to reject any amendments — dubbed “poison pills” — that would reduce the mass foreign migration into Americans’ workplaces and housing. “Adopting anti-immigrant amendments to the [climate bill] will likely bring forth challenges to the passage of this important legislation,” the letter said.
The warnings are “a clear sign that immigration is the most important issue for the political left,” said Jon Feere, a former border agency official who is now working with the Center for Immigration Studies. “Every other issue takes a backseat to their main agenda, which is mass immigration by any means possible,” Feere said.
The warnings are plausible because many liberal groups do not think the climate bill is anywhere near what they want, said Rosemary Jenks, the government relations director for NumbersUSA. So they could campaign against the bill if the Democrats allow substantial amendments, such as amendments that require “building the rest of the wall, changing the credible fear standard or [making] mandatory [the] Remain in Mexico [program] … because this [bill] is only a tiny fraction of what they wanted,” she said.
So far, the GOP has not announced amendments with significant changes, she added.
The climate change bill is being pushed through the Senate through the fast-track reconciliation process, and it has also been reframed as an anti-inflation bill. The liberals posted their veiled threat amid reports that Republicans will exploit a weak link in the “reconciliation” process.
The weak link is a so-called “vote-a-rama,” in which Senators are expected to offer many amendments to the spending package, starting this weekend. The amendments are each decided by a majority vote, so if even a few Democrats back a GOP amendment, it gets added to the Democrats’ climate bill.
The pro-migration groups are worried that a few Democrats will back legislation that would extend the Title 42 migration barrier on the U.S.-Mexican border. The barrier is potentially far more effective than the border wall because it allows officials to legally exclude anyone — even people who say they are seeking asylum from at-home threats.
Important: Nearly 300 immigration, civil rights, business and labor groups are calling on Democrats to remain united against letting any GOP "poison pills" on immigration into the climate bill, reports @PunchbowlNews.
As Punchbowl notes, this is a "big issue." pic.twitter.com/5dy7VpSYSh
— Greg Sargent (@ThePlumLineGS) August 2, 2022
One Tile 42 amendment likely to be included in the vote-a-rama has already been sponsored by several Democrats, including Sen. Kyrsten Sinema (D-AZ), Mark Kelly (D-AZ), and Joe Manchin (D-WV), Jon Tester (D-MT), Rob Portman (R-OH), Maggie Hassan (D-NH).
The amendment would require that the Title 42 barrier stay up until the coronavirus emergency is formally ended by the nation’s Surgeon General — and Democrats are touting the amendment as a disaster for immigration.
An amendment “functionally ends asylum,” Kerri Talbot, deputy director of the Laurene Powell Jobs’ Immigration Hub, told the Washington Post. “Will the Democrats stick together and vote it down?”
The claim of disaster, however, is pro-migration PR because the Title 42 barrier is already being used as a political theater by Democrats to pretend they are guarding the nation’s border, said Feere.
The Title 42 barrier is operated by the border chief, Alejandro Mayorkas. He is a Cuban-born, pro-migration zealot who disregards the nation’s immigration laws as he allows roughly a million illegals to cross each year on the legal grounds that they are allowed to file claims for asylum. That massive flood of migrants is tilting the nation’s economy in favor of Democratic donors by pushing down Americans’ wages and driving up Americans’ housing costs.
Mayorkas has also gutted the Title 42 legal barrier by exempting more of the arriving women and children. Most of those family migrants are allowed to enter the United States even though they are trying to get their fathers, husbands, and family members who illegally sneaked into the United States via coyote-guided treks through the border region.
SHOCK: Alejandro Mayorkas, the nation's border security chief, told migrants how to get past the Title 42 coronavirus border barrier. https://t.co/H5tgoiKyiX
— Breitbart News (@BreitbartNews) September 26, 2021
“Those kinds of amendments are purely messaging,” said Jenks. Any directives from Congress that are not tied to laws or budgets are “going to be misused by this administration — and everybody knows that,” she added.
Democrats may also set up a process where a few endangered Democrats can vote for popular anti-migration amendments, and then pass subsequent leadership-backed “wraparound” amendment that eliminates the prior amendments, she said.
So far, the GOP is also using the issue as political theater, said Feere.
For example, the draft Title 42 amendment does not force Mayorkas to close any of the loopholes he has created, said Feere. He added:
Unfortunately, there are a lot of weak Republicans who are also okay with political messaging that is ineffective [in stopping migration]. If Republicans were fighting harder, they would be adding amendments that require the hiring of thousands of new ICE officers and eliminating all of Mayorkas’ illegal-migration encouragement policies.
The political theatre “as always,” is operated by both sides, Feere said.
Many pro-migration Democrats are eager to play up the claimed threat posed by the Title 42 amendment.
“I call on all Democrats to stand firm and united against Republican amendments that would hurt immigrant families,” Menendez told Greg Sargent, one of the Washington Post’s many establishment leftists.
The Democrats “have huge opportunity to enact breakthroughs, but could threaten it by voting to effectively end asylum, a key part of Ted Kennedy’s Refugee Act of 1980,” tweeted Frank Sharry, a long-standing advocate for amnesty and extraction migration.
The amendment is “the ticking time bomb still threatening the big climate deal,” Sargent wrote.
“Codifying a Stephen Miller policy to end asylum is not one of our climate goals,” tweeted Julian Castro, a former housing secretary. Democratic senators must be clear on this: they will not jeopardize our chance to invest in climate by adding right-wing poison pill amendments to codify Title 42.”
Meanwhile, other business-backed groups want to use the climate bill to accelerate migration.
Republicans should take up the challenge and use the vote-a-rama to press for significant changes, countered Jenks.
“This is the last opportunity that Republicans are going to have to force votes on issues of their choosing [before the 2022 election]. so it would be foolish not to push the immigration issue as far as they possibly can,” she said.
Even ordinary migrants can see through the Senate posturing, Feere said.
“Amid all of this political back and forth, the message [sent to] south of our border hasn’t changed — people around the world are still hearing that the United States is welcoming in virtually everyone who comes to our border illegally,” he said.
Extraction Migration
Since at least 1990, the D.C. establishment has extracted tens of millions of legal and illegal migrants —plus temporary visa workers — from poor countries to serve as workers, managers, consumers, and renters for various U.S. investors and CEOs.
This federal economic policy of Extraction Migration has tilted the free market toward investors and employers.
The inflationary policy makes it difficult for ordinary Americans to get married, advance in their careers, raise families, or buy homes.
Extraction migration has also slowed innovation and shrunk Americans’ productivity, partly because it allows employers to boost stock prices by using cheap stoop labor instead of productivity-boosting technology.
Migration undermines employees’ workplace rights, and it widens the regional wealth gaps between the Democrats’ big coastal states and the Republicans’ heartland and southern states. The flood of cheap labor tilts the economy towards low-productivity jobs and has shoved at least ten million American men out of the labor force.
An economy built on extraction migration also drains Americans’ political clout over elites, alienates young people, and radicalizes Americans’ democratic civic culture because it allows wealthy elites to ignore despairing Americans at the bottom of society.
The economic policy is backed by progressives who wish to transform the U.S. from a society governed by European-origin civic culture into a progressive-directed empire of competitive, resentful identity groups. “We’re trying to become the first multiracial, multi-ethnic superpower in the world,” Rep. Rohit Khanna (D-CA) told the New York Times in March 2022. “It will be an extraordinary achievement … we will ultimately triumph,” he boasted.
Business-backed migration advocates hide this extraction migration economic policy behind a wide variety of noble-sounding explanations and theatrical border security programs. For example, progressives claim that the U.S. is a “Nation of Immigrants,” that migration is good for migrants, and that the state must renew itself by replacing populations.
The polls show the public wants to welcome some immigration — but they also show deep and broad public opposition to labor migration and the inflow of temporary contract workers into jobs sought by young U.S. graduates.
The opposition is growing, anti-establishment, multiracial, cross-sex, non-racist, class-based, bipartisan, rational, persistent, and recognizes the solidarity that American citizens owe to one another. | https://www.breitbart.com/politics/2022/08/04/liberal-groups-warn-immigration-curbs-could-sink-global-warming-bill/ | 2022-08-04T08:58:18Z | https://www.breitbart.com/politics/2022/08/04/liberal-groups-warn-immigration-curbs-could-sink-global-warming-bill/ | true | 1 |
Hostess Brands, Inc. (NASDAQ: TWNK)
Q2 2022 Earnings Call
Aug 03, 2022, 4:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings, and welcome to the Hostess Brands second quarter 2022 earnings conference call. [Operator instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Amit Sharma, vice president, investor relations. Thank you, Amit.
You may begin.
Amit Sharma -- Vice President, Investor Relations
Hi. Good afternoon, and welcome to Hostess Brands' second quarter 2022 earnings conference call. Joining me on today's call is Andy Callahan, Hostess Brands' president and CEO; and Travis Leonard, chief financial officer. By now, everyone should have access to the earnings release for the period ended June 30, 2022, that was published at approximately 4 p.m.
Eastern Time. The press release and investor presentation are available on Hostess' website at hostessbrands.com. This call is being webcast, and a replay will be available on our website. During the course of this call, management will make a number of forward-looking statements, including expectations and assumptions regarding the company's future performance.
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Actual results may differ materially from these forward-looking statements, and we undertake no obligation to update or revise these forward-looking statements. A detailed list of these risks and uncertainties can be found in today's earnings release and in our SEC filings. Management will make a number of references to non-GAAP financial measures that we believe will provide useful information to the investors. A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included in the earnings release.
With that, I will turn the call over to Andy Callahan, our president and CEO.
Andy Callahan -- President and Chief Executive Officer
Thank you, Amit. First off, I would like to publicly welcome Travis to the Hostess Brands family. We are excited to have his leadership, talent and experience as we continue on our journey as a leading snacking powerhouse. Moving on to our results.
We delivered another quarter of strong top line performance, highlighting Hostess Brands' position as a differentiated snack company with iconic brands and an advantaged business model. Consumption trends in our core categories remain resilient, and we continue to drive category growth. Our strong first half results and the strength of our business gives us the confidence to raise our full year revenue guidance to at least 15% growth on top of last year's 11.6% growth. The strength of our revenue performance is meaningfully offsetting high inflation and supply chain inefficiencies due to heightened levels of volatility in the global markets.
Our full year EBITDA and EPS outlook remain unchanged, even as we continue our increased investments behind our brands, innovation, and people to support our sustained profitable long-term growth strategy. First, a few highlights from our solid second quarter results and then a few comments on why I feel confident that Hostess Brands is well-positioned to successfully navigate the current operating environment. I'll then turn it over to Travis to provide a more detailed review of our quarterly financial results and our revised outlook for the full year before taking questions. Now on the quarterly highlights.
Net revenue grew 16.8% in the quarter. We are growing revenue quarter after quarter, year after year. The second quarter marks the tenth consecutive quarter of at least 9% growth and fifth consecutive quarter of double-digit growth. In this increasingly dynamic environment, we benefited from our advantaged business model and strength of our brands with favorability in pricing, mix and volume.
At the retail sales level, both our sweet baked goods and cookies posted impressive broad-based growth in the quarter. Sweet Baked Goods point of sale led by the Hostess Brand grew 15.6% in the quarter. Our focus on large, growing snacking occasions, insight-driven innovation and increasing advertising and marketing investments, continue to drive the category and enable us to capture greater share of category volumes. Highlighting our unique access to both on-the-go and at-home consumer, Hostess Brands single-serve and multipack point of sale each increased more than 15% during the quarter, with two-year stack growth of 35.9% and 20.6%, respectively, both well ahead of the underlying category trends.
We believe our continued investment in product quality amplifies our ability to retain more consumers, which is reflected in higher repeat rates that are significantly above others in the Sweet Baked Goods category. Turning to the Voortman brand and its ongoing growth momentum. Voortman growth continues to be driven by expanding distribution, fueled by our investments in advertising to increase brand awareness as well as the positive impact of innovation and a continued focus on improving SKU mix. These actions resulted in Voortman in gaining five points of share in the fast-growing sugar-free subsegment during the quarter.
I am proud of our top line momentum and our long track record of strong organic growth. Underlying volume trends in our core snacking categories continue to hold up better than overall food even in the current economic environment, highlighting the impact from our focused investments supporting our attractive growth potential over the long term. To fully realize our growth potential, we will continue to make targeted investments across the organization, including investments in our people, capabilities, products and brands. As planned, we are investing in higher advertising and marketing support behind both our core portfolio and new product innovation.
Our high ROI marketing investments include the recent expansion of our first national advertising campaign in over a decade and the upcoming support for the launch of Bouncers, our latest innovation platform. As we mentioned at our March Investor Day, our iconic brands enjoy more than 90% brand awareness at par or even higher than many of the largest snack break. However, Hostess is not top of mind for 60% of consumers. Our rising advertising and marketing investments are designed to build top-of-mind awareness for Hostess snacks in order to create a powerful flywheel of growth.
Our compelling and differentiated innovation remains a key element of our growth strategy. Our snacking occasions-based framework and strong consumer insights are supported by our marketing and innovation capabilities. I believe this is why we are now and continue to be positioned to consistently launch more impactful, breakthrough innovation that brings incremental households into the franchise. Innovation is a core competency at Hostess, and we are building a multiyear pipeline of new products to continue our innovation momentum.
Baby Bundts, our highest revenue innovation over the past 12 months, is a vivid example of our capabilities. We have high confidence that Bouncers, our next big innovation launch, will be another great example of how we can contemporize our iconic brands for the next generation. Bouncers reimagines our iconic Twinkies, Ding Dong and Donettes offerings in a single-serve poppable version, ideal for the lunchbox occasion and designed to bring incremental consumers to our brands, particularly millennial parents. Bouncers is receiving strong endorsement and support from our retail partners and is expected to hit the market in early fall.
At the macro level, the consumer environment is becoming more challenging. We are watching closely for signs of changing consumer behavior as consumer baskets show greater impact from overall higher inflation. However, we believe that our strong brands and innovation in our targeted snacking occasions positions us well to deliver leading growth for the remainder of '22 and beyond. A few points to amplify this point.
First, we grew retail dollar sales across all channels during the quarter, demonstrating the strength and reach of our broad-based multichannel distribution strategy as we continue to operate effectively across all channels, a key advantage as consumer spending shifts across channels. Second, even with double-digit price increases, absolute price points for Hostess products remain relatively low on a per-serving basis, making them an accessible snacking option within the snacking occasions in which we compete. Third, similar to many snacking categories, the Sweet Baked Goods category has low private label penetration of less than 3%. Our strong innovation and excellent retail execution insulates against the threat of consumer trade-down in the current environment.
We are pleased with our strong quarterly growth, which is helping us excel in a challenging operating environment as we face heightened inflation and continued supply chain fragility. I'm proud of our dedicated and talented workforce for continuing to execute at high levels through these challenges, enabling us to maintain our previously communicated EBITDA guidance at the upper end of our $280 million to $290 million range for the full year. To demonstrate our appreciation, earlier this week, we rewarded the relentless efforts and hard work of all of our hourly bakery and distribution center employees with a thank you bonus as we continue to invest in our workforce. Our frontline team members are the backbone of our Hostess business, and we cannot thank them enough.
We also continue to make great progress on all of our corporate responsibility initiatives as outlined in our second corporate responsibility report which we published in June. We recently announced the appointment of Darryl Riley as our first chief sustainability officer. Darryl will be instrumental in supporting the organization to drive accountability and transparency of our corporate responsibility initiatives as we need to build a strong, sustainable corporate culture that values nimbleness, integrity, tenacity, inclusivity and a commitment to quality. In summary, our strong quarterly and year-to-date results position us well to successfully navigate through this near-term volatility and deliver our revised full year guidance.
We have built a long track record of delivering excellent results through various operating environments and continue to be excited about the growth opportunities ahead of us. We are executing on our strategic priorities and remain highly confident in our ability to deliver our attractive long-term growth algorithm. With that, let me turn it over to Travis to go through the quarterly financial results and our revised outlook in greater detail.
Travis Leonard -- Chief Financial Officer
Thanks, Andy. It's an honor to be part of the Hostess success story and speak about another quarter of outstanding performance. I will start with a review of our top line. Organic net revenue for the second quarter increased 16.8% to $340.5 million, a record sales quarter for Hostess Brands.
Our top line was driven primarily by price mix, which accounted for nearly 14 percentage points of the quarterly growth as we benefited from planned pricing actions and favorable product mix. Higher volume accounted for the rest of the quarterly sales growth. Our Sweet Baked Goods portfolio, nearly 90% of total sales, grew 15.6% during the quarter, while our Cookie portfolio grew 27.6%, demonstrating growth across our entire portfolio. Switching to retail sales trends.
Our Nielsen measured Sweet Baked Goods point of sale increased by 15.6% for the 13-week period ending July 2, with broad-based growth across all key channels. Our share of the Sweet Baked Goods category dollar sales remained relatively flat at 21.7%, while our volume share increased by nearly 70 basis points. Voortman POS increased by 25% in the period, nearly double the 13% growth for the overall cookie category, driven by pricing, innovation and distribution gains with strong growth in the sugar-free subsegment. Voortman share of the cookie category increased by nearly 20 basis points.
As Andy mentioned, both our single-serve and multipack offerings grew by double digits during the quarter. Our breakfast portfolio also continued to significantly outperform the subsegment with 22.1% growth in the quarter compared to 16.1% for the total breakfast subsegment, driven in part by our impactful innovation, including Baby Bundts. Moving to the P&L. Adjusted gross profit of $112.8 million increased by 7.1% in the quarter, driven by pricing actions and higher volume.
As expected, second quarter gross margins were challenging. Adjusted gross margins for the quarter declined by 299 basis points from the year ago quarter to 33.1% as the benefit from higher prices and productivity initiatives were more than offset by 20% inflation, as well as inefficiencies caused by supply chain fragility. Adjusted EBITDA increased by 0.7% to $68.9 million in the quarter as higher gross profit was partially offset by higher SG&A expenses. Our adjusted SG&A increased by 19.8% to $61.2 million, driven primarily by planned investments in our people and capabilities and a step-up in brand building activities, as well as higher variable selling expenses.
Adjusted EBITDA margin declined by 323 basis points to 20.2%, primarily due to the decline in gross margin, as previously discussed. Our effective tax rate, excluding discrete items, was 27.2% as compared to 27.3% in the prior year quarter and was in line with our 27% outlook for the full year. Adjusted net income of $30.5 million for the quarter decreased 5.3% from the prior year period. Adjusted earnings per share of $0.22 decreased 4%.
Both declined as EBITDA growth was offset by higher depreciation and share-based compensation expense. At the end of the quarter, we had cash and cash equivalents of $206.8 million, short-term investments of $20.9 million and net debt of $858.3 million with a net debt leverage ratio of three times, which is at the bottom of our targeted three to four times range. During the quarter, we repurchased $38.8 million worth of shares under our previously announced $150 million repurchase program. Turning to the outlook for the year.
Given our strong year-to-date results, we are raising our full year net revenue guidance to at least 15% growth, up from our previous guidance of at least 12% growth. We continue to expect full year volume to increase by low to mid-single digits. Our stronger top line outlook is enabling us to maintain our full year EBITDA guidance toward the high end of the $280 million to $290 million range and EPS guidance in the $0.93 to $0.98 per share range. We continue to expect full year capex in the $120 million to $140 million range and a tax rate of 27%, both unchanged from our original guidance.
We now expect average shares outstanding of $138.5 million to $139.5 million, down modestly from our previous guidance of $139 million to $140 million. We continue to expect high teens inflation for the full year, and we have forward purchase contracts in place for over 90% of our market-traded commodities for the remainder of the year. Given the incremental supply chain headwinds experienced in Q2, we expect full year gross margins to be down approximately 200 basis points from last year. As we look to the back half of the year, we expect incremental margin benefits from previously announced pricing actions, along with higher contribution from productivity initiatives.
As Andy mentioned, we will also continue to make targeted investments across the organization, including investments in our people, capabilities, products and brands. As an example, advertising and marketing expense increased by double digits during the quarter and is expected to remain elevated over the remainder of the year to support both core and new product innovation. We expect to continue to drive productivity initiatives, as well as leverage our revenue growth management toolkit, including positive mix and more efficient trade spending to manage our industry-leading margins over the long run. I am proud of our team's ability to deliver another quarter of strong growth, and I'm excited to continue our journey of driving sustained profitable growth.
With that, I will turn it back to Andy for closing comments.
Andy Callahan -- President and Chief Executive Officer
Awesome. Thanks, Travis. Hostess continues to grow due to the resiliency of our portfolio, our business model and our strategies supported by our talented team as we execute at a high level in a very dynamic environment. We remain confident of continuing our revenue growth through the remainder of '22 and beyond as highlighted by our revised outlook and our ability to deliver attractive long-term growth and leading shareholder returns over time.
With that, we are ready for your questions.
Questions & Answers:
Operator
Thank you. [Operator instructions]
Andy Callahan -- President and Chief Executive Officer
Thanks, Paul. And we're open to the universe now.
Operator
Yes. Every line is live. And our first question comes from Pamela Kaufman with Morgan Stanley. Please proceed with your question.
Pam Kaufman -- Morgan Stanley -- Analyst
Hi. Good evening. Can you discuss the outlook for the second half and what's driving your top line guidance? I think you previously expected mid-single-digit volume growth for the year. Volumes were up 3% in the second quarter.
So are you still expecting mid-single-digit volume growth? And can you talk about what's driving the guidance for revenue up around 10% in the back half, which is slowing to about less than half of the rate in the first half of the year?
Andy Callahan -- President and Chief Executive Officer
Yeah. Hey, thanks, Pam. Appreciate the question and coverage. We don't specifically quantify the forward revenue.
As Travis mentioned, you're exactly right, we do expect the full year to be flat to the midpoint. So the point here is it's exactly really the way we had called -- we expected it. If you look at the charts, we've been -- we're lapping really high growth numbers, but we expect that the consumer to be absorbing a lot as we move into the back half. In the second quarter, we had 13.8 points of growth was from price mix.
That's helping offset our 20% inflation in the second half. We do expect, obviously, that trend of more price mix weighted to be in the back half and the full year volumes to be that. So it is a deceleration of growth but still growth that's on the leading end of other food companies. And I think that's really because of our business proposition, our innovation, our continued investment in the consumer and the categories in which we compete in the snacking occasions, which are traditionally resilient.
So we've been -- it's actually unfolding the way we see it at this point, but we're going to continue to monitor closely. We're always focused on the consumer and making sure that we have this sustainable profitable growth over time. And I feel confident we have the right strategies to do that.
Pam Kaufman -- Morgan Stanley -- Analyst
Thanks. That's helpful. And then can you just talk about your expectations around gross margin for the year? So you lowered your outlook for gross margins during the second quarter. What gives you confidence around the updated gross margin outlook? And what kind of visibility do you have into the back half gross margin?
Travis Leonard -- Chief Financial Officer
Great. Thank you for the question. I'll take this. So as we stated in our call, we expect full year gross margins to be down 200 basis points versus prior year.
We do anticipate Q2 to be the highest year-over-year decline. So as we think about the second half from a year-over-year perspective, we will see that moderate a bit in the second half. And just to give you a little bit of perspective, we talked about supply chain fragility, and let me give you a little bit of insight to what we were specifically talking about. One example of this is around volatility and the timing of certain ingredients.
So unfortunately, you can't make a Twinkie with only 95% of ingredients. So when the ingredients aren't there, you do experience production scheduling challenges, as well as inefficiencies in transportation. We continue to work very closely with our suppliers and value the strategic relationship we've built with them, which provides us confidence that these issues will definitely get better over time.
Andy Callahan -- President and Chief Executive Officer
Yeah, I agree with everything Travis said. We have a good track record of executing in volatile environments from the beginning of COVID to now. So we work hard, appreciate our suppliers in a difficult situation, but good line of sight exactly the way Travis said.
Pam Kaufman -- Morgan Stanley -- Analyst
Thank you.
Amit Sharma -- Vice President, Investor Relations
Thank you, Pam.
Operator
Thank you. Our next question comes from Ken Goldman with J.P. Morgan. Please proceed with your question.
Anoori Naughton -- J.P. Morgan -- Analyst
Hi. Good afternoon. It's Anoori on for Ken. I wanted to dive into those production challenges you had in the quarter a little bit more.
So yeah, I'm curious if you could help us understand how much of the deceleration in volumes that we saw in the second quarter was a result of supply chain versus just what you were expecting in terms of elasticity. I guess could volumes have been better if you were able to produce optimally? And are there any catch-up shipments that we should keep in mind as we move into the back half?
Andy Callahan -- President and Chief Executive Officer
Yeah, I'll take that. A couple of things. First of all, we are a relatively short shelf life product. We're baked goods.
We do it actually very well. We do high-quality products at scale that consumers demand high quality, which is why fresh bakeries are still around in such prevalence. It's one of our secret sauces. But the impact of that is that we have relatively low inventory.
So it's not -- we're not one of those categories that have catch-up in inventory. So we ship real time. As far as the supply chain fragility is concerned, I would think of it more -- now we still have some disruptions. The cost that Travis talked about, we're not bringing -- not everything is happening as efficient as we're accustomed to or the standards we have.
I would think of it more of a cost issue at this point versus a real meaningfully growth issue, although we certainly didn't do everything due to some of those disruptions. But I think in the Q2, it's more related to the inefficiencies that it would be the cost -- or I mean the volumes.
Anoori Naughton -- J.P. Morgan -- Analyst
OK. Got it. That's helpful. And then my follow-up would be -- your optimism on Bouncers is noted.
And so how should we think about the incrementality of, first, your innovations like Bouncers? And how much contribution or how should we think about the contribution and how much is embedded in your outlook for the balance of the year?
Andy Callahan -- President and Chief Executive Officer
Yeah. It's embedded in the outlook. We typically do not break out the specific contributions of innovations. Our team -- our innovation team with Dan O'Leary, Tina Lambert working in concert with Arist Mastorides, our chief customer officer, really, and their talented team, it's insight-driven.
We focus on our five occasions. This one's focused on the lunch box, which we talked about at Investor Day, which is one of our really strategic areas targeted to our millennial parents who are searching for these options. So our customers and our consumers, when we test it to them, are really excited about Bouncers and we are, too. So we're not going to forecast it innovations and art as much as it is as the science.
Our track record over the last several years has been as good or better than most, and I'm equally excited about this. When you think about for the lunch box, a new innovation that reimagined some of the icons that some of us and our parents had in a really new and contemporary form for uses that they really need and consumer that has high awareness of the Hostess brands and sub-brands and looking for options that are more contemporized. I think that's one of the reasons why our customers are excited about it and certainly why we are in the data. So when you move into new occasions and attract new consumers as well, which we anticipate this does, we do that research.
We look at what are more platformable, scalable, how much is it incremental versus a line extension. Our pipeline takes into account all of that. Very excited about it and enthusiastic about it.
Anoori Naughton -- J.P. Morgan -- Analyst
Thank you.
Amit Sharma -- Vice President, Investor Relations
Thank you, Anoori.
Operator
Thank you. Our next question comes from David Palmer with Evercore ISI. Please proceed with your question.
David Palmer -- Evercore ISI -- Analyst
Thanks. Good evening. I wanted you to maybe tell the story of the quarter a little bit. I know you were expecting perhaps shipments to be trailing consumption because of some of the supply chain constraints, and maybe you surprised yourselves because it looks like your units that you shipped were equal to the measured channel units that we see.
Is that true that -- or maybe there's some dynamics around Bouncers, for example, you have some shipment timing there that represents the catch-up and you still have some lower inventory levels in some other areas. I'd love to here the story of the quarter in terms of shipments.
Andy Callahan -- President and Chief Executive Officer
Yeah, David, let me think through your question here. A couple of things. You're asking similar to Anoori. Is there some customer-related inventory that's still in front of us to fill up? There might be a little bit of that, but I don't think that's really meaningfully at play here.
I think we're pretty much aligned. We're looking at the second quarter in a row where we had shipments and POS that weren't meaningfully off. It is not a -- it's not a Bouncers issue, by the way. We're in the early -- we're in some early shipments of Bouncers, but really, our national expansion around Bouncers is happening through September.
So in the quarter, we do not have a Bouncers issue. I just feel that we have a good consumption model. Our team does a nice job. We're really having to execute and demonstrate our agility and customer partnerships and other things to -- based on some of the supply chain things we talked about that.
I think we'll work through that really through in the back half and get back to the efficiencies that we're really -- and predictability that we're accustomed to. So I don't think that's the issue. I don't know, Travis, if you have anything to build on that.
Travis Leonard -- Chief Financial Officer
No, I think you got it, Andy.
Andy Callahan -- President and Chief Executive Officer
Yeah, well, we continue to see volume growth in the quarter. So we're one of the few that are delivering nearly 14% of price mix and unit growth on top growing unit share despite some of the disruptions in efficiency.
David Palmer -- Evercore ISI -- Analyst
So this was -- it was really -- the story of the quarter was you were scrambling for ingredients at times, elevated costs ensued, and that was a bit of a surprise and that was really the story of the supply chain rather than it ultimately leading to a shortfall in what you could ship.
Andy Callahan -- President and Chief Executive Officer
For the most part, yeah. Yes.
David Palmer -- Evercore ISI -- Analyst
The -- I guess from here, you would expect measured channel sales versus shipments to be somewhat more even, I would imagine. I guess when you're consistent with your guidance, are you contemplating any additional pricing actions in the second half? You mentioned 20% inflation. Wondering if you would seem to have the right to be raising price a little bit more than you have.
Andy Callahan -- President and Chief Executive Officer
So yeah, the headline on that would be everything that's in our guide, we've communicated and it's flowing through the marketplace. And when it comes to just in general, we look at a full market basket of things. Pricing is one of them. But we have -- all the pricing that were contemplated is in the marketplace.
The inflation is coming up, as Travis has talked about it, for the full year about the high teens. It was a little higher here in Q2 as you noticed, but that's built in our guide. And also, obviously, a long-term algorithm of mid-single-digit growth, EBITDA top line growth and five to seven and all of that contemplate of EBITDA -- all that contemplates us to obviously managing our gross margins over time. And we have a full toolbox of that revenue growth management, productivity initiative, actively managing mix to commit to that over time.
So the way we see it, obviously, it's a very dynamic environment. We're close to that, we monitor that, but that's where we're at.
David Palmer -- Evercore ISI -- Analyst
Great. Thank you very much.
Andy Callahan -- President and Chief Executive Officer
Thanks, David.
Operator
Thank you. Our next question comes from Ben Bienvenu with Stephens. Please proceed with your question.
Jim Salera -- Stephens Inc. -- Analyst
Hi, guys. Jim Salera on for Ben. I have a two-part question on the top line performance. So part one, if you guys could talk a little bit about the volume growth.
It's impressive to have 3% volume growth given how much the price has gone up. Is that coming from new customers entering the category, whether it's trade down or just return of mobility in the C-store channel? Or is that increased buying rates among existing Hostess customers?
Andy Callahan -- President and Chief Executive Officer
Yeah. I appreciate the question from the consumer point of view. So we are -- we do continue to grow units. We expect the full year to come out of this year with growth in units of greater than 15% growth from -- at least 50% revenue growth price mix.
So we think the consumer first. We've grown penetration, i.e., we're getting more consumers in the franchise. And the consumers that we -- when we attract new consumers that repeat, i.e., turn into two-time consumers at a greater rate than the category in total, almost a two times rate on the category in total. So a lot of these investments we're making in growth by bringing them new ideas, by bringing them innovations that are compelling and that they want, by partnering with our customers and actively manage mix and build in the distribution.
And what you don't see is our investment and the great job our supply chain does and our quality team in the quality of our products. Baby Bundts was just really reimagined what quality of baked good can happen at scale, but that's happening across all of our portfolio. So when you put those together, when we make those investments in growth, they become sticky and that's sustainable. And we're really focused on making sure we get that at the right price value and then do that as efficiently as possible, which is what the magic of our model is.
And the fact that we're in these five occasions, I expect that to continue to repeat over time. So within any one quarter, there's timing of pricing and some other things and a lot of things happen, maybe execution, lapping of things. But over time, that model is going to grow -- continue to have us grow above food. We're going to continue to grow share in our category because I think we're executing the right strategy at the brands and the people and the ideas to be able to do that.
And I think we're seeing that play through. In the short term, we're in categories with snacking with an accessible price points that I believe have proven over time to be resilient in different types of economic environments and our -- the breadth of our availability to consumers across channels helps insulate that as consumers move across channels, looking for value. So I feel like we're in a good position, but in the long term, relative to some of those consumer dynamics and the investments we're making, as well as the short term.
Jim Salera -- Stephens Inc. -- Analyst
Great. And you actually touched on the beginning of part two there at the end. The single-serve point of sales growth is really incredible given the strength last year. Is that, again, you mentioned more accessible? Is that just consumers buying it because it's a lower dollar price than maybe some other indulgent snack? Or is that, again, return on mobility and maybe new entrants into the category, they want to buy a single serve before they go up into the multipack?
Andy Callahan -- President and Chief Executive Officer
There's a couple of things going on here. One thing I would just be very clear. This single serve is a little bit more -- it's a different occasion than the multipack. So the single-serve is really -- you need to have distribution at a point of interruption.
It's typically more of an impulse sale. It is a relatively good price point versus other options, accessible price point versus other options as well. Multipacks are more of a buy and inventory in your home for in-home snacking or on the go. So they're distinct occasions.
On our single-serve specifically, we have done really well. We have a distribution that's good. We executed very well. We have our Hostess partnership program with a lot of our distributors and retail customers that allows them to benefit from growth collectively and provide investment.
Our teams also -- given our success and given the innovation we're doing, we're also working with customers to make sure -- and we talked about this at Investor Day, Dan O'Leary did, about our investments in other locations and points of distribution. So you may have distribution of Hostess, let's say, in a grocery box or a retail box, but you can get single-serve still either more scheduled or more present in other stores, which adds another opportunity for sales. So we still have opportunity for points of interruption within stores, which the team is doing a real nice job at. So there's both the repeat that I talked about before, as well as some of the breadth of distribution of single-serve within different opportunities for the consumer to enjoy our products.
Jim Salera -- Stephens Inc. -- Analyst
Great. Thanks, guys. I'll pass it on.
Andy Callahan -- President and Chief Executive Officer
Yeah.
Amit Sharma -- Vice President, Investor Relations
Thank you, Jim.
Operator
Thank you. Our next question is from Rob Dickerson with Jefferies. Please proceed with your question.
Rob Dickerson -- Jefferies -- Analyst
Great. Thanks so much. I'll try to keep this quick. I guess just first question I had was kind of visibility currently on the community store channel.
I understand what you said about consumer basket showing some impact, but you're still doing well. I heard from another company this morning saying they're actually seeing still decent traffic and purchase rates in the C-store channel for the time being. I know you've also spoken to the channel before. So just curious kind of what you're seeing within that specific channel and if you have any perspective regarding elasticity differential potential on a channel basis as you get through the year.
Andy Callahan -- President and Chief Executive Officer
Yeah. Hey, Rob, thanks for the question. We have talked about convenience before. We look at external data.
We try to collaborate it -- collaborate it. Yeah, we try to cross tab it to our internal data. And what we've seen historically, I'll just say what I said last quarter, is as gas price has gone up and mobility was up, what we saw was actually the opposite. We saw gas prices per ticket decline, but frequency increased.
Inside sales still stay the same or benefit from the increased frequency and snacks of which we compete be very resilient. Consumers would cut, let's say, beverages before they cut snacks. When we looked at it through this quarter and continue to monitor it, we did see some of that traffic decline temporarily for a period of time, but then bounced back as we saw fuel prices kind of drop a little bit. So the headline on the traffic in the C-store has been resilient, and that's been helpful for our business, as well as the fact that we have good distribution, good presence, good partnership with our customers, as well as a really good value price point versus some other options they have if they're looking for a quick snack.
So we have seen good resilience. I like our position. Related to elasticity, we typically -- we don't disclose exactly, but what we have said before is we certainly see impulse sales being modestly less elastic than some other categories, and that certainly helps. We're the leading share within the single-serve within sweet baked goods, so that's helpful.
Rob Dickerson -- Jefferies -- Analyst
All right. Super. And then just a question on a couple of lines in SG&A. Advertising and marketing was up double digit in the quarter.
And then I know you had -- you made a comment on kind of the first ever or at least first in a long time campaign that's forthcoming, while at the same time, from your Investor Day, kind of speaking to that by saying that we are going to continue to lean in. Should we be expecting, let's say, an uptick in the back half of the year like relative to what we're seeing in Q2? Or my impression was maybe some of that uptick in kind of spend on the go forward is maybe a little bit more heavily weighted in the next year, the following year, but maybe I'm just wrong.
Travis Leonard -- Chief Financial Officer
Yeah, what we said is --
Andy Callahan -- President and Chief Executive Officer
Travis, go ahead.
Travis Leonard -- Chief Financial Officer
Yeah. I'll start in the beginning. So what we said in our comments is we had a step-up in Q2 and we expect that to remain elevated, so similar to those levels throughout the remainder of the back half.
Rob Dickerson -- Jefferies -- Analyst
OK. OK. Fair enough. Perfect.
And then --
Andy Callahan -- President and Chief Executive Officer
And we are supporting Bouncers, by the way, which will expand in September as we said, too. So that's both the base business and the innovation.
Rob Dickerson -- Jefferies -- Analyst
OK. Perfect. And then just on the admin side, a little bit higher in the quarter than expected. But I know you have the commentary around the employee bonus piece.
I'm not sure if that was included within the quarter or if that's coming later. Because I'm just curious if there's a kind of like a one-time and then that kind of rolls off a little bit. Then I'll leave it at that.
Travis Leonard -- Chief Financial Officer
Yeah. Just let me get more specific on G&A. As we said in our comments, we expected to have investments in our people, process and capabilities to drive growth. And we have accelerated, quite honestly, our investments in these areas around consumer insights, data analytics, productivity initiatives, again, which is we'll continue to support our long-term growth, both from a top and a bottom line.
Additionally, we're investing in our workforce. We've got a new chief customer officer. We've got a new chief sustainability officer and hired a new R&D head, and obviously, I'm excited to be here as well. So I think overall, we've made some investments.
We have accelerated those a bit in Q2, which is a little bit of a step-up in Q2.
Rob Dickerson -- Jefferies -- Analyst
All right. Got it.
Andy Callahan -- President and Chief Executive Officer
Think about year to go -- but just think about year to go kind of consistent on a run rate basis.
Rob Dickerson -- Jefferies -- Analyst
Perfect. All right. Thanks, guys.
Amit Sharma -- Vice President, Investor Relations
Thank you, Rob.
Operator
Thank you. Our next question comes from Bill Chappell with Truist Securities. Please proceed with your question.
Stephen Lengel -- Truist Securities -- Analyst
Hi. Good evening. This is Stephen Lengel on for Bill Chappell. Sort of piggybacking off some of the prior questions about the supply chain.
I mean is there anything to note in terms of like the construction build-out costs with the Arkadelphia plant? Overall capex guide was unchanged, but is it still on track for the mid-second half of '23? And how quickly do you expect it to ramp once it kind of gets into that range?
Andy Callahan -- President and Chief Executive Officer
Yeah. Hey, thanks for the question. The headline answer is that's not related to the supply -- talk about the fragility of the supply chain. The Arkadelphia ramp-up is still on schedule for the second half of '23.
There is a ramp-up schedule. We haven't communicated that. That does take time. You have to hire people.
You have to train the people. You have to set up the facility. So -- but that's second half of '23, that's on time. Travis talked about the capital on budget.
So basically, think of that as on budget, on time at this point. The supply chain fragility that we're talking about is more the daily operations of making sure that a very complicated system that runs like an orchestra normal times is being disrupted and therefore, really challenged our agility, sometimes our efficiencies to be able to service our customers and our consumers at the standard that we have. And that's causing us not -- with an ability of not to be able to do that and at the efficiencies that we want. So we think we're toward the back end of that, but we're still in a dynamic and fragile environment.
But that's what that comment is more related to. That flows through, as Travis explained, into some of these costs. So as we move forward and it becomes more stable, we would get more to the efficiencies and build from there that our standards expect.
Stephen Lengel -- Truist Securities -- Analyst
Great. Thank you very much.
Andy Callahan -- President and Chief Executive Officer
Yeah.
Amit Sharma -- Vice President, Investor Relations
Thanks, Steve.
Operator
Thank you. Our next question comes from Connor Rattigan with Consumer Edge Research. Please proceed with your question.
Connor Rattigan -- Consumer Edge Research -- Analyst
Hi. Good evening. Thanks for the question. So great to hear that Voortman is doing so well in the sugar-free or better-for-you segment.
I'm not sure if I missed this, but can you quantify maybe what percentage of your portfolio consists of that sugar-free or healthier snacking segment? And also, too, just thinking from a mix standpoint, is there anything like sizable pricing differential between these healthier options versus the traditional offering?
Andy Callahan -- President and Chief Executive Officer
Yeah. So just a headline on Voortman. So Voortman is about 10% of our overall portfolio in revenue. As you saw in this quarter, it's growing -- of course, our whole portfolio is growing a lot, but Voortman has grown a lot.
We are, by far, the leading share within our sugar-free portfolio. So that's really important to think through. And that subsegment of sugar-free is growing at -- consistently growing at two times the rate of total sugar. Our products taste terrific.
So we're working obviously hard. That's really important for us to make sure that we have a good portfolio of that. So as far as a percentage of our portfolio, sugar-free is a meaningful part of our total portfolio relative to total cookies. And -- but we also have a meaningful share within our regular wafer category, and sugar-free encompasses both the wafers, as well as cookies.
So it's an important part of our portfolio. It's growing at twice the rate. It's a profitable -- it's accretive in gross margins as well within our portfolio. So we feel really like we're in a good spot relative to sugar-free.
Amit Sharma -- Vice President, Investor Relations
Connor, sugar-free is about two-third of the Voortman business.
Connor Rattigan -- Consumer Edge Research -- Analyst
OK. Thank you. That was really helpful. I'll pass it on.
Amit Sharma -- Vice President, Investor Relations
Thank you, Connor.
Operator
Thank you. Our next question comes from Robert Moskow with Credit Suisse. Please proceed with your question.
Rob Moskow -- Credit Suisse -- Analyst
Hey, thanks. Andy or Travis, it's early to think about cost inflation heading into 2023. But from our perspective, we just see all these commodities kind of leveling off and even kind of falling down a little bit, especially gasoline. But from your perspective, I'm sure you're seeing your costs only go higher because of upstream disruptions and lack of availability.
So this -- maybe this is a hypothetical question. But if the commodities are kind of leveling off or even falling, could we still see a lot of inflation next year just because, I don't know, there's just not enough labor to get your raws to you when they need to be there? I don't know if that's the right way to ask the question. But is disruption still -- could it be significant enough that we still see inflation even though the commodities are not so inflationary?
Travis Leonard -- Chief Financial Officer
Maybe I'll start here and then Andy will chime in. You're right. It's too early to talk about 2023 given the volatility in the global markets. And we think about volatility, there's weather conditions that are uncertain and volatile, this geopolitical uncertainty out there.
To your point, there's labor challenges and just the overall supply chain disruption. So at this point, it's too early to talk about it. As we said for this year, we've got 90% of our market traded. We've got future purchase contracts at 90% of our market-traded commodities.
But there are some costs that are actually exposed and we buy on the spot as we've discussed such as packaging, labor and diesel, and those will remain open to the spot market. So a lot of uncertainty, volatility and a bit too early to talk about. And maybe Andy can talk a little bit about how we think about coverage and our approach in this space.
Andy Callahan -- President and Chief Executive Officer
Yeah. Rob, I think you nailed it as far as where we do forward contracts, we look at predictability of cost, reliability of supply. And so when you're in a really volatile market, we look at those. So we certainly extend out.
So in that case, just like on the way up, there's not an immediate close or just a little bit of that on the way down. Who am I to predict inflation? And I think that's true for everybody else. Obviously, we can be hopeful. We haven't seen it yet.
So we try to prepare for multiple scenarios and leverage our competency of agility and responsiveness and strong relationships with our customers, suppliers to kind of manage through it that's proven pretty successful for us so far. I am hopeful. Our category, I feel like, will be resilient through rocky times for our consumers, and I am optimistic, but it's difficult to predict. I do expect that -- like when we very started this journey, I guess, if we can say that COVID was beginning of the journey, it was a -- it was more of a blunt instrument on the supply chain that was really all clogged.
And now it's 1,000 points of light with -- where you're not sure where the disruption is going to come through. It's a little bit more like that. So agility has certainly been a terrific tool. I would guess that -- I would be hopeful that we would see some relief and some stability in the back half.
But certainly, I'm not going to sit here and try to predict that.
Rob Moskow -- Credit Suisse -- Analyst
OK. Well, here's an easier follow-up maybe. Have you ever said what the incremental volume from Arkadelphia will provide just on a percentage basis? And is it all incremental? Or is it going to pull some volume from your other facility, which is probably being overworked?
Andy Callahan -- President and Chief Executive Officer
There's a combination of both. We said that it adds 20% capacity to our cake and Donettes -- and donut business. And it does have a little bit of a back-end benefit of flexibility in some of the remaining bakeries. So there's a little bit of a combination of both.
The team -- by the way, the team has done a great job because we added lines over the last 3 or 4 years of our industry-leading growth journey. We've added lines, increased efficiency, cut SKUs to get it -- really get as much out of our fixed assets as we could. But then we're at the point with our projections on box. So it's really a good time confidence in our growth.
But it does have a little bit of a dual effect on that -- in that regard.
Rob Moskow -- Credit Suisse -- Analyst
Thanks.
Andy Callahan -- President and Chief Executive Officer
Yeah.
Amit Sharma -- Vice President, Investor Relations
Thank you, Rob.
Operator
Thank you. Our next question comes from Rebecca Scheuneman with Morningstar. Please proceed with your question.
Rebecca Scheuneman -- Morningstar -- Analyst
Great. Thanks for squeezing me in. So just one quick question. I was wondering if you could give me an update on elasticities, how they've been trending since the beginning of the year and how that compares with what your expectations were.
And then finally, if you'd be willing to quantify that, that would be very helpful. Thank you.
Andy Callahan -- President and Chief Executive Officer
Yeah. I'll take that one. We do not quantify our elasticities. So what I would look at is, the way I think about it is our team has a consumption model that's proprietary to us.
And the consumption model says, what are all the drivers that are -- that you see in the Nielsen data or the IRI data? What are all the drivers that ultimately result in that? We have elasticity in the model. We have distribution. We have support, what's the consumer environment and macro things in there, our advertising support, our innovation. Our team has done a pretty good job with that.
And what we've seen is in the short term, we've seen -- where we hear a lot of the resilience despite the pricing on a lot of these macro factors around consumer behavior, changing behavior are really offsetting what we typically see in the pricing. They've also seen some of the support. So one of the reasons why last quarter, we saw this impact on the consumer come into play, which appears like it's playing out, is because of this model. So we think we have a pretty good understanding of the consumer and the drivers of that.
The team has done a nice job of keeping us educated on that. There's still some uncertainty out there. But the elasticity does obviously get a lot of play. But what really happened to some of those support things, either we're lapping the change in the consumer behavior changes being at home and other things or support for the consumer, we actually see those drivers not as strong, and therefore, you're starting to see a little bit of slowdown.
I'll just close. But with that being said, I still am very confident in our long-term algorithm, our growth, our model and our ability to grow over time, that's mid-single digits.
Rebecca Scheuneman -- Morningstar -- Analyst
OK. Great. Thank you.
Amit Sharma -- Vice President, Investor Relations
Thank you, Rebecca. Paul, we have time for one more, please.
Operator
Thank you. Our last question comes from [Inaudible] with Citigroup. Please proceed with your question.
Unknown speaker -- Citi -- Analyst
Hi. Thanks for squeezing me in here. You touched on this earlier, but I want to ask on the elevated A&M. Just at a higher level, as you look to build the top line piece, how are you thinking about balancing core products, innovation or single-serve versus multipack, going into the launch of Bouncers and then beyond that also? Thank you.
Andy Callahan -- President and Chief Executive Officer
Yeah. So our team does a nice job. We actively manage a pipeline. So our pipeline is really grounded in our five occasions.
It's a $50 billion addressable market: morning sweet start, lunchbox, afternoon reward, immediate consumption, afternoon sharing. I encourage you to look at our -- Tina Lambert did an excellent job at Investor Day. If you click on the link, you'll be able to see it. I think it's about 10 minutes long, and it really explains it.
But we look at -- we manage that pipeline. We manage short-term news and long-term platform innovation that attracts new consumers to the franchise, leverages our brands, leverages our insights to be able to bring. That's what Bouncers is. Bouncers looks at that.
We also look at convenience channel or immediate consumption innovation as well. That's what Boost did. Boost looked at the immediate consumption. This year, we've launched a bagged sugar-free cookies under the Voortman brand.
So we look at -- we look -- we're grounded in the consumer. We look at the occasions. We then build a pipeline in a process of that. We're already looking at '24, early '25 ideas and then put it into our business realities.
What's it going to take to invest, what -- how big can it be, etc. A lot of that then becomes business judgment. But it all starts with the consumer. And certainly, it's important for us to bring innovation to all of our important consumers who, really, we try to inspire moments of joy to every day.
Unknown speaker -- Citi -- Analyst
Great. Thank you very much.
Andy Callahan -- President and Chief Executive Officer
Yeah.
Amit Sharma -- Vice President, Investor Relations
Thanks.
Operator
Thank you. There are no further questions at this time. I would like to return -- I would like to turn the floor back over to Andy Callahan for any closing comments.
Andy Callahan -- President and Chief Executive Officer
Yeah. Real quickly to close. We greatly appreciate your interest in Hostess. We'll continue to work hard for all of our -- all of you.
Great thanks out to the Hostess team. They work hard passionately. They bring their heart and soul into everything they do. So it's greatly appreciated.
We're just getting started, and we believe in our long-term algorithm. And I appreciate it, and we'll see you next quarter.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Amit Sharma -- Vice President, Investor Relations
Andy Callahan -- President and Chief Executive Officer
Travis Leonard -- Chief Financial Officer
Pam Kaufman -- Morgan Stanley -- Analyst
Anoori Naughton -- J.P. Morgan -- Analyst
David Palmer -- Evercore ISI -- Analyst
Jim Salera -- Stephens Inc. -- Analyst
Rob Dickerson -- Jefferies -- Analyst
Stephen Lengel -- Truist Securities -- Analyst
Connor Rattigan -- Consumer Edge Research -- Analyst
Rob Moskow -- Credit Suisse -- Analyst
Rebecca Scheuneman -- Morningstar -- Analyst
Unknown speaker -- Citi -- Analyst
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | https://www.nasdaq.com/articles/hostess-brands-inc.-twnk-q2-2022-earnings-call-transcript | 2022-08-04T08:59:30Z | https://www.nasdaq.com/articles/hostess-brands-inc.-twnk-q2-2022-earnings-call-transcript | true | 2 |
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Perhaps the most underrated gadget Apple has produced in the last few years has to be the iPad mini 6. People either love or hate the size of this iPad and that’s fine. But for many, it’s the form factor that ends up being a plus point of owning the iPad mini 6. It’s comfortable to hold and use, great for reading indianexpress.com and comics, an ideal device for taking notes and the perfect size for playing games and attending FaceTime calls. If you already own the iPad mini 6 or are looking to buy one, consider these five accessories below.
PS5 DualSense controller (Rs 5390)
It’s true that the Nintendo Switch is the go-to handheld console for many people but it would be foolish to underestimate the iPad mini 6. The screen is big enough, has a powerful A15 processor inside, and the size makes this iPad a portable console that you can truly have with you at all times. Add a more traditional-style game console and the iPad mini 6 becomes the ultimate gaming device. For those who are big on iPad gaming and have recently subscribed to Apple Arcade, we recommend getting the PlayStation 5’s DualSense controller. It has a two-colour scheme and a more ergonomic design. The controller features adaptive triggers and haptic feedback, and a solid battery backup. It’s the best game controller on the market, and also works with the iPad mini 6.
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The lack of expandable storage on the iPad can be a limiting factor for many people, but the good news is that you can connect an external SSD to the tablet. The USB-C on the iPad mini 6 allows users to connect the tablet to the external portable SSD, which adds more space, something users want if they use their iPad as a primary work machine. Samsung’s T7 can benefit users in many ways. Not only is the portable SSD small and handy but it’s also extremely fast and can handle a lot of files (we recommend the 500GB model). Mind you, pairing an external SSD works differently on the iPad. There is no way to do full backups or use it to store files from third-party apps. However, you can manually move photos, videos and music from your iPad to the drive. Despite several limitations, Samsung’s T7 portable SSD is a solid accessory for your iPad.
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- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards. | https://indianexpress.com/article/technology/mobile-tabs/5-must-have-accessories-to-go-with-your-ipad-mini-6-8070065/ | 2022-08-04T09:07:36Z | https://indianexpress.com/article/technology/mobile-tabs/5-must-have-accessories-to-go-with-your-ipad-mini-6-8070065/ | true | 1 |
abrdn plc acquired a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Rating) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 83,600 shares of the bank’s stock, valued at approximately $483,000.
Other institutional investors have also recently bought and sold shares of the company. Gateway Investment Advisers LLC bought a new position in Itaú Unibanco in the 1st quarter valued at $62,000. First Affirmative Financial Network bought a new stake in shares of Itaú Unibanco during the first quarter worth $63,000. Dubuque Bank & Trust Co. bought a new stake in shares of Itaú Unibanco during the first quarter worth $83,000. Calamos Wealth Management LLC bought a new stake in shares of Itaú Unibanco during the first quarter worth $92,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Itaú Unibanco during the first quarter worth $98,000. Institutional investors own 8.66% of the company’s stock.
Itaú Unibanco Trading Up 0.9 %
ITUB stock opened at $4.48 on Thursday. The company has a market cap of $43.90 billion, a P/E ratio of 8.45, a PEG ratio of 0.46 and a beta of 0.85. Itaú Unibanco Holding S.A. has a twelve month low of $3.60 and a twelve month high of $6.09. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 2.10. The business has a fifty day moving average of $4.57 and a 200-day moving average of $4.87.
Itaú Unibanco Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Monday, September 12th. Investors of record on Tuesday, August 2nd will be paid a dividend of $0.003 per share. The ex-dividend date of this dividend is Monday, August 1st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.80%. Itaú Unibanco’s dividend payout ratio (DPR) is presently 5.66%.
About Itaú Unibanco
Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market and Corporation. It offers various deposit products, as well as loans and credit cards; investment and commercial banking services; real estate lending services; financing and investment services; and leasing and foreign exchange services.
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Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Rating).
Receive News & Ratings for Itaú Unibanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itaú Unibanco and related companies with MarketBeat.com's FREE daily email newsletter. | https://www.americanbankingnews.com/2022/08/04/abrdn-plc-acquires-shares-of-83600-itau-unibanco-holding-s-a-nyseitub.html | 2022-08-04T09:09:34Z | https://www.americanbankingnews.com/2022/08/04/abrdn-plc-acquires-shares-of-83600-itau-unibanco-holding-s-a-nyseitub.html | false | 1 |
Shares of Bsr Real Estate Investment Trust (TSE:HOM.U – Get Rating) have earned a consensus rating of “Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$19.69.
Several equities analysts have recently issued reports on the stock. Raymond James set a C$24.00 price target on shares of Bsr Real Estate Investment Trust and gave the company a “strong-buy” rating in a report on Thursday, May 12th. Royal Bank of Canada reduced their price target on shares of Bsr Real Estate Investment Trust from C$24.00 to C$23.50 and set an “outperform” rating for the company in a report on Thursday, May 12th.
Insider Activity at Bsr Real Estate Investment Trust
In related news, Director William Daniel Hughes Jr. bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was purchased at an average price of C$18.79 per share, for a total transaction of C$37,580.28. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately C$112,740.84. In other Bsr Real Estate Investment Trust news, Director John Stanley Bailey purchased 4,600 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was bought at an average cost of C$21.95 per share, with a total value of C$100,971.55. Following the acquisition, the director now owns 1,023,676 shares of the company’s stock, valued at C$22,470,032.16. Also, Director William Daniel Hughes Jr. purchased 2,000 shares of the business’s stock in a transaction on Monday, June 27th. The stock was acquired at an average cost of C$18.79 per share, with a total value of C$37,580.28. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately C$112,740.84. Insiders purchased 7,600 shares of company stock worth $157,984 in the last 90 days.
Bsr Real Estate Investment Trust Stock Performance
Bsr Real Estate Investment Trust Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 15th will be given a $0.0433 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.52 dividend on an annualized basis and a yield of 3.15%. Bsr Real Estate Investment Trust’s dividend payout ratio is presently 5.88%.
Bsr Real Estate Investment Trust Company Profile
BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary and secondary markets in the Sunbelt region of the United States.
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- Is it Time to Tap Molson Coors or Will Beer Sales Turn Flat?
- PayPal Continues To Struggle As Competition Increases
- Is Starbucks Shooting For The Moon?
- Two High-Yield Deep-Values You Shouldn’t Ignore
Receive News & Ratings for Bsr Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bsr Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter. | https://www.com-unik.info/2022/08/04/bsr-real-estate-investment-trust-tsehom-u-receives-c19-69-average-pt-from-analysts.html | 2022-08-04T09:10:32Z | https://www.com-unik.info/2022/08/04/bsr-real-estate-investment-trust-tsehom-u-receives-c19-69-average-pt-from-analysts.html | true | 1 |
One of the most prevalent minerals in water is fluoride, which is added to practically all goods used on a daily basis. Although this mineral has many advantages, excessive fluoride can have serious negative effects on the body, including renal disorders.
Fluorosis, which weakens bodily tissues and cell growth and affects tooth enamel, can also be brought on by too much fluoride. Furthermore, large concentrations of this organic mineral may be hazardous to the brain and nerve cells, leading to a neurological breakdown, memory loss, and even learning difficulties. Fluoride in drinking water, however, can also strengthen bones and teeth to a certain extent.
What level of fluoride is safe?
The WHO recommends 1.5 mg/L of fluoride in drinking water, while only 1 mg/L is useful for people in terms of avoiding dental caries. On the other hand, the Maximum Contaminant Level for fluoride in public water systems is somewhere about 4 mg/L. (MCL). If the amount of fluoride in the water surpasses this limit, it is not considered safe to consume because fluoride can have harmful effects on the body.
Does boiling water get fluoride out of it?
No really. In fact, boiling water can actually increase the amount of fluoride it contains. Only chlorine and other microorganisms can be eliminated by boiling water, but the amount of this mineral increases when the water is heated to a boil.
Can fluoride be filtered using RO?
Out of the five purification techniques—reverse osmosis (RO), distillation, activated carbon, Reviva, and candle filter—it was the RO method combined with Reviva that contributed to the greatest reduction of this mineral, according to a study published in the Journal of Indian Society of Pedodontics and Preventive Dentistry. Water for this study came from the Devangere city borewell and the city’s public water supply in Karnataka.
In another study, after passing through multiple RO filters, the majority of the water samples revealed a decrease in fluoride level in the range of 0.1-0.8 ppm, which was published in the International Journal of Dental Sciences and Research. The average difference in fluoride removal for RO filters using cellulose-based or thin-film composite membranes, respectively, was determined to be (0.4) and (0.45) ppm.
Read all the Latest News and Breaking News here | https://www.news18.com/news/lifestyle/does-ro-assist-in-eliminating-fluorides-harmful-effects-from-drinking-water-5686393.html | 2022-08-04T09:17:03Z | https://www.news18.com/news/lifestyle/does-ro-assist-in-eliminating-fluorides-harmful-effects-from-drinking-water-5686393.html | true | 3 |
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JOHANNESBURG, Aug. 4, 2022 /PRNewswire/ -- Sasol's financial performance for the year ended 30 June 2022 (2022 financial year) was underpinned by a favourable macroeconomic environment, with higher crude oil prices, refining margins and chemicals prices against a backdrop of heightened geopolitical tensions. This resulted in a strong gross margin improvement from the prior year, combined with robust cost and capital expenditure performance. These benefits were partly offset by operational challenges in our integrated South African value chains which resulted in lower production, as reported in the annual business performance metrics published on 25 July 2022 (https://www.sasol.com/investor-centre/financial-results).
Sasol´s adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA**) for the 2022 financial year is expected to increase by between 36% and 56% from R48,4 billion in the prior year, to between R66,0 billion and R75,6 billion. This is mostly due to a strong recovery in Brent crude oil and chemical prices, partly offset by realised oil hedging losses and lower Chemicals sales volumes.
Shareholders are advised that, for the 2022 financial year:
- Earnings per share (EPS) are expected to be between R60,59 and R63,51 compared to the prior year earnings per share of R14,57 (representing an increase of more than 100%);
- Headline earnings per share (HEPS) are expected to be between R42,84 and R50,74 compared to the prior year headline earnings per share of R39,53 (representing an increase by between 8% and 28%); and
- Core HEPS (CHEPS*) are expected to be between R65,21 and R70,76 compared to the prior year CHEPS of R27,74.
Notable non-cash adjustments (before taxation) for the 2022 financial year include:
- Unrealised losses of R5,2 billion on the translation of monetary assets and liabilities and valuation of financial instruments and derivative contracts;
- Net gain of R9,9 billion on remeasurement items, mainly due to:
- a gain of R4,9 billion on the realisation of the foreign currency translation reserve (FCTR) on the divestment of Sasol Canada's shale gas assets;
- a gain of R3,7 billion on the divestment of 30% equity interest in Republic of Mozambique Pipelines Company (ROMPCO);
- a gain of R2,9 billion on the realisation of FCTR on the divestment of the European Wax business; and
- a R1,4 billion reversal of impairment on the Chemicals Work Up & Heavy Alcohols value chain due to a higher price outlook on the back of a sustained increase in demand for alcohols into the personal hygiene market during and post the COVID-19 pandemic;
- partly offset by a loss on scrapping of property, plant and equipment of R2,8 billion in the Chemicals America segment.
The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.
Sasol will release its 2022 annual financial results on Tuesday, 23 August 2022 at 09h00 (SA time) followed by a conference call hosted by Fleetwood Grobler, our President and Chief Executive Officer and Hanré Rossouw, our Chief Financial Officer.
Please connect to the call via the webcast link: https://www.corpcam.com/Sasol23082022 or via teleconference call link: https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=3629805&linkSecurityString=7a93dfa35.
* Core HEPS is calculated by adjusting headline earnings with non-recurring items, earnings losses of significant capital projects (exceeding R4 billion) which have reached beneficial operation and are still ramping up, all translation gains and losses (realised and unrealised), all gains and losses on our derivatives and hedging activities (realised and unrealised), and share-based payments on implementation of Broad-Based Black Economic Empowerment (BBBEE) transactions. Adjustments in relation to the valuation of our derivatives at period end are to remove volatility from earnings as these instruments are valued using forward curves and other market factors at the reporting date and could vary from period to period. We believe core headline earnings are a useful measure of the group´s sustainable operating performance.
** Adjusted EBITDA is calculated by adjusting operating profit for depreciation, amortisation, share-based payments, remeasurement items, change in discount rates of our rehabilitation provisions, all unrealised translation gains and losses, and all unrealised gains and losses on our derivatives and hedging activities.
Adjusted EBITDA and Core HEPS are not defined terms under IFRS and may not be comparable with similarly titled measures reported by other companies. The aforementioned adjustments are the responsibility of the directors of Sasol. The adjustments have been prepared for illustrative purposes only and due to their nature, may not fairly present Sasol´s financial position, changes in equity, results of operations or cash flows.
Disclaimer - Forward-looking statements
Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, expectations, developments, and business strategies. Examples of such forward-looking statements include, but are not limited to, the impact of the novel coronavirus (COVID-19) pandemic, and measures taken in response, on Sasol's business, results of operations, markets, employees, financial condition and liquidity; the effectiveness of any actions taken by Sasol to address or limit any impact of COVID-19 on its business; the capital cost of our projects and the timing of project milestones; our ability to obtain financing to meet the funding requirements of our capital investment programme, as well as to fund our ongoing business activities and to pay dividends; statements regarding our future results of operations and financial condition, and regarding future economic performance including cost containment, cash conservation programmes and business optimisation initiatives; recent and proposed accounting pronouncements and their impact on our future results of operations and financial condition; our business strategy, performance outlook, plans, objectives or goals; statements regarding future competition, volume growth and changes in market share in the industries and markets for our products; our existing or anticipated investments, acquisitions of new businesses or the disposal of existing businesses, including estimates or projection of internal rates of return and future profitability; our estimated oil, gas and coal reserves; the probable future outcome of litigation, legislative, regulatory and fiscal developments, including statements regarding our ability to comply with future laws and regulations; future fluctuations in refining margins and crude oil, natural gas and petroleum and chemical product prices; the demand, pricing and cyclicality of oil, gas and petrochemical product prices; changes in the fuel and gas pricing mechanisms in South Africa and their effects on prices, our operating results and profitability; statements regarding future fluctuations in exchange and interest rates and changes in credit ratings; total shareholder return; our current or future products and anticipated customer demand for these products; assumptions relating to macroeconomics; climate change impacts and our climate change strategies, our development of sustainability within our Energy and Chemicals Businesses, our energy efficiency improvement, carbon and GHG emission reduction targets, our net zero carbon emissions ambition and future low-carbon initiatives, including relating to green hydrogen and sustainable aviation fuel; our estimated carbon tax liability; cyber security; and statements of assumptions underlying such statements. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour", "target", "forecast" and "project" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections, and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors and others are discussed more fully in our most recent annual report on Form 20-F filed on 22 September 2021 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider foregoing factors and other uncertainties and events, and you should not place undue reliance on forward-looking statements. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
For further information, please contact:
Investor Relations:
Tiffany Sydow
VP Investor Relations
+27 (0)71 673 1929
View original content:
SOURCE Sasol Limited | https://www.14news.com/prnewswire/2022/08/04/sasol-limited-trading-statement-financial-year-ended-30-june-2022/ | 2022-08-04T09:24:11Z | https://www.14news.com/prnewswire/2022/08/04/sasol-limited-trading-statement-financial-year-ended-30-june-2022/ | true | 12 |
After a particularly harsh winter, the snow has finally melted from the backyard grill. It’s time to start cooking outside again.
Unfortunately, with barbecued meats come increased risks from cancer-causing compounds. But there’s good news from Portuguese researchers. They’ve found that marinating meat in dark beer substantially reduces the formation of potentially harmful substances.
Here’s the problem. Past studies have shown an association between colorectal cancer and eating grilled meat.
When meats like beef, pork, chicken or fish are cooked at very high temperatures (like on a barbecue grill) they form polycyclic aromatic hydrocarbons (PAHs). PAHs form when fat and meat juices drip onto an open fire, causing flames. The flames contain PAHs that stick to the surface of the meat. PAHs can also be formed by smoking meats
High levels of PAHs are also found in cigarette smoke and car exhaust. In laboratory studies PAHs are associated with cancers in animals. It’s still uncertain if the same is true for humans. But the European Union Commission has set maximum PAH levels in foods.
Prior research established that marinating meats in beer, wine, or tea before grilling them can reduce the levels of these potential carcinogens. But it wasn’t clear what kind of beer was best.
For this study the researchers used marinated and unmarinated pork. The meat all contained the eight major PAHs that have been classified as indicators of carcinogenic potency.
They marinated the pork for four hours in Pilsner beer, non-alcoholic Pilsner beer or black beer ale. Then they cooked the pork until well-done on a charcoal grill.
Their results were published in the Journal of Agricultural and Food Chemistry. Black beer had the strongest effect. It reduced the levels of the eight major PAHs by more than half (53%) compared with unmarinated pork.
Non-alcoholic Pilsner reduced PAHs by 25% and regular Pilsner by 13%. It’s not clear why non-alcoholic Pilsner was more powerful than the regular.
Other potentially carcinogenic compounds formed during meat grilling include heterocyclic amines (HCAs). They are produced when animal muscle, such as beef, chicken, pork or fish, is barbecued, grilled, boiled or fried.
Consuming HCAs through meat increases risk factors for colorectal, stomach, lung, pancreatic, mammary and prostate cancers.
Prior research found that adding certain spices containing natural antioxidants to meats or marinades could reduce HCAs by 40%. Meat cooked below 352 degrees Fahrenheit for less than four minutes contains low or undetectable levels of HCAs. Levels increase with higher temperatures and longer cooking times.
Researchers believe antioxidants in spices with phenolic compounds can block HCAs before they form during heating and grilling at high temperatures. Rosemary and turmeric are particularly effective.
Combining spices with marinades is a good practice.
Earlier research found that even store-bought marinades significantly reduce total HCAs. Steak cooked in a Caribbean marinade containing thyme, red and black pepper, allspice, rosemary, and chives reduced HCAs by 88%; an herb marinade with oregano, basil, onion, jalapeno, parsley, and red pepper reduced them by more than 72%; and a Southwest marinade containing paprika, red pepper, oregano, black pepper, garlic, and onion reduced HCAs by 57%.
Better yet, make your own dark beer marinade. Here’s how.
Dark Beer Marinade Recipe
1/2 cup extra virgin olive oil
1 cup Guinness or other stout
1/2 cup lemon juice
6 cloves garlic, chopped
2 teaspoons Celtic sea salt
1 teaspoon freshly ground black pepper
1 teaspoon dry mustard
1 teaspoon turmeric
2 teaspoons dried rosemary
1 bay leaf
Combine all ingredients. Add chicken, beef, pork or other meat and marinate at least one hour. | https://www.tunisiesoir.com/health/dark-beer-marinade-cuts-cancer-causing-compounds-on-the-grill-29275-2022/ | 2022-08-04T09:32:11Z | https://www.tunisiesoir.com/health/dark-beer-marinade-cuts-cancer-causing-compounds-on-the-grill-29275-2022/ | true | 1 |
Elizabeth Banks slips into a fun cherry print bikini as she arrives in Greece for a summer getaway
She's a very busy actress with several movies in the works.
So it's little wonder Elizabeth Banks, 48, looked thrilled to jet off on holiday, with the star seen swapping her travelling attire for a cherry print bikini.
In a fun new Instagram video shared to her Instagram grid on Wednesday, the Hunger Games actress shared an edited clip of herself arriving at the airport donning a denim jacket and a straw hat, while laden down with luggage.
Holiday time! Elizabeth Banks, 48, looked thrilled to jet off on holiday, with the star seen swapping her travelling attire for a cherry print bikini
And after walking through the airport door and magically arriving at her sun-soaked destination, Elizabeth stripped off her clothes for a holiday appropriate bikini.
The beauty showcased her incredible figure in the skimpy white and red two-piece, smirking at the camera as she strolled into an idyllic garden with pool.
Captioning her post, she penned: 'Next stop…GR.'
Her sunny getaway came in the middle of a very busy period in the Pitch Perfect actress' career.
Quick change: In a fun new Instagram video shared to her Instagram grid on Wednesday, the Hunger Games actress shared an edited clip of herself arriving at the airport donning a denim jacket and a straw hat, while laden down with luggage
Banks will star in the movie Call Jane which is set for release in October 2022. The movie centres on a woman who joins an underground organisation that helps women get abortions.
Kate Mara, Sigourney Weaver and Alison Jaye star alongside Banks in the movie directed by Carol writer Phyllis Nagy.
She has another movie titled The Beanie Bubble which is in post-production and her film, Signal Hill, is in pre-production.
Looking good: After walking through the airport door and magically arriving at her sun-soaked destination, Elizabeth stripped off her clothes for a holiday appropriate bikini
While she's stayed very busy in her career in recent years, the Modern Family actress still puts aside time to spend with her family.
Banks met sportswriter Max Handelman in college while attending the University of Pennsylvania. They married in 2003.
The couple share two children: 11-year-old Felix and nine-year-old Magnus.
Big movie on the way: Banks will star in the movie Call Jane which is set for release in October 2022 (pictured 2020)
Happy couple: Banks met sportswriter Max Handelman in college while attending the University of Pennsylvania. They married in 2003 (pictured 2019) | https://www.dailymail.co.uk/tvshowbiz/article-11080121/Elizabeth-Banks-swaps-travelling-attire-cherry-print-bikini-arrives-Greece.html | 2022-08-04T09:35:04Z | https://www.dailymail.co.uk/tvshowbiz/article-11080121/Elizabeth-Banks-swaps-travelling-attire-cherry-print-bikini-arrives-Greece.html | true | 4 |
MP high court pulls up collector for declaring defeated candidate a winner
The Madhya Pradesh high court on Thursday issued a notice to district collector of Panna for declaring the defeated candidate as vice president of Gunnaur Janpad panchayat and handing him over the winner’s certificate.
A single bench of judge Vivek Agrawal sought an explanation from the collector asking, “Why a recommendation is not made to not handover any sensitive matter like dealing with election petitions or conduct of elections in future and this recommendation be not forwarded to all the Constitutional Authorities like Election Commission of India or bodies like State Election Commission.”
In the petition filed by a resident of Panna Parmanand Sharma said, “I had filed nomination for the vice-president post of Janpad Panchayat Gunnaur. In the election held on July 27 for the post of vice-president, out of 25 elected members, 13 members voted in his favour and he won the election. He was also given the certificate of being elected as the Vice-President.”
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“After the completion of the election process, all the members returned home. At 4:30pm, the defeated candidate Ramshiromani filed an election petition under section 122 before the district election officer and collector Sanjay Kumar Mishra. The district election officer and the collector, while hearing the election petition immediately issued a certificate declaring the defeated candidate as the winner at around 7pm. The collector, despite being victorious, did not provide him with an opportunity to present his case, which is against natural justice,” said the petitioner.
Senior advocate Manoj Sharma, appearing for the petitioner said the district collector was not working like the district election officer of the election commission. “He worked as an agent of the ruling party,” he alleged.
After hearing the petition, the single bench directed the district collector to make the petitioner non-applicant in the plea. The single bench summoned him personally on August 17.
When contacted, district collector Sanjay Mishra refused to comment saying the matter is pending before the court. | https://www.hindustantimes.com/cities/others/mp-high-court-pulls-up-collector-for-declaring-defeated-candidate-a-winner-101659599661198-amp.html | 2022-08-04T09:35:11Z | https://www.hindustantimes.com/cities/others/mp-high-court-pulls-up-collector-for-declaring-defeated-candidate-a-winner-101659599661198-amp.html | false | 1 |
Simplex Trading LLC increased its position in Everest Re Group, Ltd. (NYSE:RE – Get Rating) by 334.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,816 shares of the insurance provider’s stock after acquiring an additional 1,398 shares during the quarter. Simplex Trading LLC’s holdings in Everest Re Group were worth $547,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of RE. Mutual of America Capital Management LLC increased its holdings in shares of Everest Re Group by 2.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 10,844 shares of the insurance provider’s stock worth $3,268,000 after purchasing an additional 235 shares during the period. Integrated Advisors Network LLC increased its holdings in shares of Everest Re Group by 2.7% during the 1st quarter. Integrated Advisors Network LLC now owns 11,679 shares of the insurance provider’s stock worth $3,520,000 after purchasing an additional 305 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Everest Re Group by 41.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 15,639 shares of the insurance provider’s stock worth $4,713,000 after purchasing an additional 4,569 shares during the period. SG Americas Securities LLC increased its holdings in shares of Everest Re Group by 421.9% during the 1st quarter. SG Americas Securities LLC now owns 5,240 shares of the insurance provider’s stock worth $1,579,000 after purchasing an additional 4,236 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Everest Re Group by 5.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 18,470 shares of the insurance provider’s stock worth $5,566,000 after purchasing an additional 900 shares during the period. Institutional investors own 75.12% of the company’s stock.
Analyst Ratings Changes
RE has been the topic of several research reports. StockNews.com upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Saturday, July 23rd. Jefferies Financial Group lifted their target price on shares of Everest Re Group from $343.00 to $344.00 and gave the company a “buy” rating in a research report on Tuesday, July 12th.
Everest Re Group Price Performance
Everest Re Group (NYSE:RE – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The insurance provider reported $9.79 EPS for the quarter, beating analysts’ consensus estimates of $9.31 by $0.48. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $3.01 billion. Everest Re Group had a net margin of 6.61% and a return on equity of 11.41%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $14.63 earnings per share. As a group, research analysts expect that Everest Re Group, Ltd. will post 33.4 EPS for the current fiscal year.
Everest Re Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Wednesday, May 25th were given a $1.65 dividend. The ex-dividend date of this dividend was Tuesday, May 24th. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.55. This represents a $6.60 dividend on an annualized basis and a yield of 2.61%. Everest Re Group’s payout ratio is 33.45%.
Everest Re Group Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.
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Want to see what other hedge funds are holding RE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everest Re Group, Ltd. (NYSE:RE – Get Rating).
Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter. | https://www.americanbankingnews.com/2022/08/04/simplex-trading-llc-purchases-1398-shares-of-everest-re-group-ltd-nysere.html | 2022-08-04T09:43:24Z | https://www.americanbankingnews.com/2022/08/04/simplex-trading-llc-purchases-1398-shares-of-everest-re-group-ltd-nysere.html | true | 1 |
Thursday Aug 04, 2022
Prince Charles’ close friend the Duke of Northumberland Ralph Percy is being accused of turning the village of Alnwick into a ‘ghost town’ by not doing enough to promote trade.
According to The Mirror, the residents have a long list of complaints about the charity shops littering the streets and other parts of the town.
An anonymous business owner told the outlet, “Alnwick should be like a mini York, but instead it's like a ghost town.
“We've got a world-famous castle and grounds literally on our doorsteps but visitors take one look around the town and get in their cars and leave.
"There was a time when Alnwick was full of little businesses and cafes but now we've become the charity shop capital of the North East.
"I do think the Duke should be doing much more to promote the town and attract businesses to trade here."
Meanwhile, a resident Janet Bennett told the publication: “There is a view here that visitors come to the castle and the shops and restaurants nearby don't benefit.
"Alnwick Castle is almost like a little retail park in its own right, it's got restaurants, shops and food stalls so visitors needn't go into the town at all.
"A friend recently visited me from London and she said that if you're into bargain hunting and second-hand clothes then Alnwick is the place to be. | https://www.geo.tv/latest/431696-prince-charles-close-pal-accused-of-turning-small-village-into-ghost-town | 2022-08-04T09:44:17Z | https://www.geo.tv/latest/431696-prince-charles-close-pal-accused-of-turning-small-village-into-ghost-town | true | 1 |
Sports Illustrated | Gary Phillips: Frankie Montas, the highlight of the Yankees’ trade deadline, was moved to the bereavement list Wednesday as he and his family mourn the loss of his mother-in-law. We hope that the Montas family is able to grieve as they need to, and Aaron Boone announced that Frankie’s Yankee debut will take place on Sunday against the Cardinals.
New York Post | Greg Joyce: The trade of Jordan Montgomery for Harrison Bader was one of the more shocking across all of baseball. The Yankees clearly placed a premium on Bader’s defense for the postseason, even if there are questions about his recovery from plantar fasciitis. That premium cost them their home-grown left-hander, who was visibly upset upon learning of the deal, and others in the Yankee rotation, including Jameson Taillon, expressed their sadness over the trade as well.
New York Daily News | Dave Matthews: What Bob Shepherd’s voice was to millions of Yankee Stadium faithful, Vin Scully was to generations of baseball fans holding a transistor radio to their ears or watching their ballclub from Chavez Ravine. Scully’s death Tuesday night at the age of 94 inspired tributes and memorials from across the game, including the Yankees’ own legendary radio booth, with both John Sterling and Suzyn Waldman offering their thoughts and memories of Scully.
FanGraphs | Ben Clemens: Everyone does their version of a deadline winners/losers post, but Ben gives the Yankees particularly high marks for the acquisition of Harrison Bader, and prioritizing multiple seasons of control from all the trades made. Even if the Monty deal stings, the baseball press largely seems impressed with what Brian Cashman was able to pull together on Tuesday. | https://www.pinstripealley.com/2022/8/4/23291176/yankees-mlb-trade-deadline-starting-pitching-frankie-montas-jordan-montgomery-cardinals-soto | 2022-08-04T09:44:23Z | https://www.pinstripealley.com/2022/8/4/23291176/yankees-mlb-trade-deadline-starting-pitching-frankie-montas-jordan-montgomery-cardinals-soto | true | 1 |
LONDON (AP) — The Bank of England is likely to announce its biggest interest rate increase in more than 27 years on Thursday as it seeks to rein in accelerating inflation driven by the fallout from Russia’s invasion of Ukraine.
Most economists expect the bank’s monetary policy committee to approve a half-percentage point increase after Gov. Andrew Bailey said two weeks ago that the United Kingdom's central bank would “act forcefully” if the inflation picture worsened. That would push the bank’s key interest rate to 1.75%, the highest since the depths of the global financial crisis in December 2008.
The Bank of England has been criticized for moving too slowly to combat inflation, which accelerated to a 40-year high of 9.4% in June and has driven a cost-of-living crisis. While the central bank has approved five consecutive rate increases since December, none has been more than a quarter-point.
By contrast, the U.S. Federal Reserve increased its key rate by three-quarters of a point in each of the past two months to a range of 2.25% to 2.5%. Even the European Central Bank's first increase in 11 years was a larger-than-expected half-point hike last month.
“After a number of central banks across the world have picked up the pace of their tightening cycle, the Bank of England is starting to look like something of a laggard when it comes to raising rates,” said Luke Bartholomew, senior economist at abrdn. “We expect this impression to be somewhat corrected … with the bank hiking interest rates by half a percent.”
The last time the U.K. approved a similar rate increase was December 1994, when interest rate decisions were still made by the government’s treasury chief in consultation with the central bank governor.
Central banks worldwide are struggling to control surging inflation without tipping economies into recession that were just beginning to recover from the coronavirus pandemic. Higher interest rates raise borrowing costs for consumers, businesses and the government, which tends to reduce spending and ease rising prices. But such moves are also likely to slow economic growth.
The International Monetary Fund last week cut its outlook for global economic growth, citing higher-than-expected inflation, continuing COVID-19 outbreaks in China and further effects from the war in Ukraine. The U.K. economy is likely to expand just 0.5% next year, the slowest growth rate among the world’s advanced economies, the IMF said.
The landscape is especially complicated for central banks because many of the factors driving inflation are beyond their control, particularly food and energy prices that have soared due to uncertainty surrounding Russia’s invasion.
But those external pressures are now becoming embedded in the U.K. economy, with public- and private-sector workers demanding wage increases to prevent inflation from eroding their living standards.
“This explains why at the MPC’s last meeting we adopted language which made clear that if we see signs of greater persistence of inflation, and price and wage setting would be such signs, we will have to act forcefully,” Bailey said in speech last month. “In simple terms, this means that a 50 basis point increase will be among the choices on the table when we next meet.”
Economists also are anticipating the bank’s updated economic forecasts amid indications that the surge in inflation is likely to last longer and peak at a higher level than previously expected.
In June, the bank forecast that inflation would peak at slightly above 11% in October. But some economists now suggest it could reach 15% early next year as Russia curtails natural gas shipments to Europe.
“With gas prices continuing to reach record levels, both households and businesses will see large increases in their energy bills throughout the winter and into 2023,” said Jack Leslie, senior economist at the Resolution Foundation, a think tank focused on the living standards of low- and middle-income families. “How long this high inflation will last is hugely uncertain, but the cost-of-living crisis looks set to last longer and hit households harder than previously anticipated.”
But even with all the pressure for a big increase in interest rates, some economists think the Bank of England will remain cautious as it seeks to protect economic growth.
Dean Turner, an economist at UBS Global Wealth Management, said he is sure the bank will raise rates, just not by how much.
“What is a central banker to do?” he asked. “Should they be prioritizing current inflation, most of which is driven by factors beyond the control of the Bank of England, or the faltering growth backdrop? I do not envy them.” | https://www.wiltonbulletin.com/news/article/Bank-of-England-likely-to-raise-interest-rates-17350482.php | 2022-08-04T09:44:36Z | https://www.wiltonbulletin.com/news/article/Bank-of-England-likely-to-raise-interest-rates-17350482.php | false | 17 |
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HUD announces $2.8 billion in grants for homeless services
WASHINGTON (AP) — The Department of Housing and Urban Development is providing $2.8 billion in fresh funding for homeless services organizations across the country. The funding, announced Monday, will be allocated via competitive bids through HUD’s Continuum of Care Program, the largest source of federal grant support to housing and services programs for people experiencing homelessness.
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Industry-Leading Safety Company Unveils Environmentally Friendly BumperSign Solar
DANVERS, Mass., Aug. 4, 2022 /PRNewswire/ -- Safety experts McCue Corporation released its latest sustainable sign: BumperSign Solar. BumperSign Solar is a high-strength signage solution powered by solar energy.
Designed for busy parking lots, BumperSign Solar guides pedestrian traffic, online pickup, and specialized pickup options. It provides high visibility in darkness and automatically lights up at dusk.
This eco-friendly sign is designed using LED-batteries connected to a solar panel and rechargeable batteries, so it will generate power virtually anywhere and turn on every night.
"Designing an energy efficient signage solution is another step to helping our customers save on energy costs and help protect the planet," says Product Engineer Matt O'Brien.
Reusable and energy efficient, once installed, it will continue to charge itself through capturing sunlight and converting it into battery power. Even when there's no sunlight, its technology system can power the sign for up to 5 nights without receiving a charge.
With a strong, innerspring core, BumperSign Solar can withstand bumps and impacts in the parking lot. It's engineered to endure all the elements — with a self-draining design for snow and rain — to save customers from any maintenance costs.
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BumperSign Solar will be available for orders starting September 2022.
McCue, a company with over 31 years of safety and damage prevention experience, has roots across the world. With offices in the U.S., China, and the UK, the company's main purpose is to make retail spaces and distribution centers work better and safer. Their innovative products are what make them leaders in the industry, and they're why customers continue to choose them for all their safety needs.
If you would like more information about this product, please contact McCue's Industrial Safety Barrier Team at (800) 800-8503 or email cservices@mccue.com.
View original content to download multimedia:
SOURCE McCue Corporation | https://www.nbc29.com/prnewswire/2022/08/04/mccue-corporation-releases-sustainable-solar-powered-signage/ | 2022-08-04T09:50:33Z | https://www.nbc29.com/prnewswire/2022/08/04/mccue-corporation-releases-sustainable-solar-powered-signage/ | true | 13 |
Father dies after wrong-way crash that killed his wife, 4 kids
HAMPSHIRE, Ill. (AP) - Illinois State Police say an eighth person has died from a fiery crash involving a wrong-way car on an interstate in northern Illinois.
Police announced Wednesday that 32-year-old Thomas Dobosz of Rolling Meadows, Illinois, has died. They say he was driving a van carrying his 31-year-old wife, Lauren, his four children, ages 5 to 13, and a 13-year-old family friend around 2 a.m. Sunday.
The van collided with a car on Interstate 90 in McHenry County, roughly 50 miles from Chicago.
Also killed was the other driver, 22-year-old Jennifer Fernandez of Carpentersville, Illinois.
Police have said both vehicles were “engulfed in flames.”
Several GoFundMe fundraisers have been set up for the Dobosz family in the wake of the crash.
Copyright 2022 The Associated Press. All rights reserved. Gray News contributed to this report. | https://www.wilx.com/2022/08/04/father-dies-after-wrong-way-crash-that-killed-his-wife-4-kids/ | 2022-08-04T09:58:49Z | https://www.wilx.com/2022/08/04/father-dies-after-wrong-way-crash-that-killed-his-wife-4-kids/ | true | 12 |
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The Next Revolution With Steve Hilton Episodes (5)
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Twilight star Cam Gigandet and his wife, Dominique Geisendorff, are reportedly getting a divorce. Geisendoff filed for divorce on Aug. 1 in Los Angeles Superior Court, according to documents obtained by E! News. Gigandet, 39, played the villain James Witherdale in the 2008 Twilight movie. Gigandet and Geisendorff married in...
Yardbarker
The best Jodie Foster roles of all time
20. Anna Leonowens, 'Anna and the King' (1999) Not every Foster movie was critically or commercially successful. The biographical period piece Anna and the King falls into that former grouping, but not because of Foster. Yes, the film is long (148 minutes) and critics ranted about how boring this fictionalized account of real-life events were told. Yet, even in her most subpar movies, Foster stands out for the better. However, she did receive flack for taking on a role some pundits felt was beneath her. Just a nod to overall talent as one of Hollywood's greatest actors.
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Netflix Cancels Another Show After Just 1 Season
First Kill couldn't make it past its first season. Nearly two months after all eight episodes of the young adult lesbian vampire series dropped on the platform in June, Netflix has canceled First Kill after just one season, the streamer opting not to move forward with Season 2. News that a stake had been driven into the series was first confirmed by Deadline Tuesday night.
TV tonight: see Elle Fanning’s Emmy-nominated turn as Catherine the Great
Season two of The Great sees the return of Fanning and Nicholas Hoult. Plus: the BBC brings back Sartre’s The Roads to Freedom. Here’s what to watch this evening
Everybody Hates Chris Animated Series Coming to Paramount+ and Comedy Central
Chris Rock is rebooting his semi-autobiographical sitcom Everybody Hates Chris, but this time as an animated series titled Everybody Still Hates Chris. The new series is being produced for Paramount+ and Comedy Central. Like the original series, Everybody Still Hates Chris will feature Rock narrating the episodes, with stories inspired...
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Wildly Popular CBS Series Revival Gets Perfect Rotten Tomatoes Score
A beloved CBS show has officially been revived, and a new reboot trailer has been revealed. The Kids in the Hall, an iconic sketch comedy series that ran on the network from 1993 to 1995, is back and making its grand return on Amazon Prime Video. The hit series will debut on the streamer on May 13, and eager fans can check out the first trailer below.
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Julia Roberts' Marriage Is Reportedly on 'Life Support' But That's Not the Case
Julia Roberts and cinematographer Daniel Moder celebrated their 20th wedding anniversary on July 4, but a sketchy magazine article claimed their relationship was on the rocks. That does not appear to be the case though, especially considering the Instagram post that Roberts published to celebrate their milestone. Roberts, 54, and Moder, 53, are parents to three children, 17-year-old twins Hazel and Phinnaeus, and 15-year-old Henry.
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‘Summer Under the Stars’: Ben Mankiewicz Previews TCM’s Elvis Presley Marathon
As Elvis Presley mesmerizingly sang in the title song to 1964’s Viva Las Vegas, “How I wish that there were more than 24 hours in the day.” His legion of fans will indeed get 24 hours’ worth of a dozen of the King’s movies as he opens TCM’s annual August event, Summer Under the Stars, which honors a different film star each day of the month.
Jennifer Lopez and her daughter Emme enjoy an evening walk in Capri without Ben Affleck
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Will 'Grey's Anatomy' End With Season 19?
Ellen Pompeo will be playing a character other than Meredith Grey for the first time in almost two decades after signing on to star in a ripped-from-the-headlines Hulu limited series. This has instantly sparked questions about the future of Grey's Anatomy, which is almost unthinkable without Pompeo. She is expected to have limited participation in the upcoming Season 19, but there is no decision on if it will be the ABC drama's final year. | https://www.newsbreak.com/news/2689673697366/the-first-lady-canceled-at-showtime-despite-season-1-s-a-list-cast | 2022-08-04T10:05:05Z | https://www.newsbreak.com/news/2689673697366/the-first-lady-canceled-at-showtime-despite-season-1-s-a-list-cast | false | 1 |
Over the last year or so, major outages at cloud, Internet, and content delivery network providers significantly disrupted operations at businesses ranging from local mom-and-pop stores to international companies.
Anxiety about such outages was high among the respondents to this year’s InformationWeek/Network Computing survey of 300 IT professionals involved in managing networks. More than half of the respondents said they were concerned or very concerned about the impact of cloud outages on their network operations. Such concerns were justified in that the leading cause of network availability in the last year was a significant outage due to an incident at a third-party provider.
Read the Full Article on Network Computing | https://www.informationweek.com/strategic-cio/what-can-network-managers-do-about-cloud-outages-not-much- | 2022-08-04T10:09:27Z | https://www.informationweek.com/strategic-cio/what-can-network-managers-do-about-cloud-outages-not-much- | false | null |
People have been left speechless after a photo of a mystery animal was taken in their local park. The image was posted to a Facebook group, and people immediately began to speculate what it could be.
John Brad spotted the animal in Queen’s Park in Heywood, Greater Manchester, while out for his routine daily walk. He posted the photo of the small furry creature on Facebook in a bid to find out what it was.
Hundreds of people jumped into the comments to share their thoughts. A fox, a bear, a 'furry pig thing', a 'half-pig half-fox', and a bush dog are all among the suggestions.
READ MORE: Full list of the reported big cat sightings in North Wales
According to the MEN, Danielle said: "Looks like a bear." Denise wrote: "It's a fox". Laura offered an unusual suggestion. "It looks half pig half fox", she said.
What do you think it is? Share in the comments
"It's a racoon dog", Stacey commented. Josh asked: "Is it a mink maybe?".
Most people identified the animal as a bush dog, which are canines native to Central and South America. They live in forests and wet savannahs and it would be extremely rare to see one in the UK.
Chris wrote: "It's a bush dog". Emily said: "Ring RSPCA, it's a bush dog".
Jennifer O'Neill said: "Omg it's a bush dog they are awesome they have them at Yorkshire wildlife park. They don't live in the wild here though should let RSPCA know."
But a few people questioned whether the animal was actually spotted in Heywood at all. Adam wrote: "Gullible people". Maxine asked: "Wind up?".
For the latest North Wales news sent to your inbox for free, sign up here
Read next:
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Premier Inn names Llandudno hotel opening date as seaside trade booms for the brand
One taken to hospital after air two ambulances, paramedics and police respond to 'medical emergency' | https://www.dailypost.co.uk/news/uk-world-news/people-baffled-mysterious-half-pig-24667436 | 2022-08-04T10:10:09Z | https://www.dailypost.co.uk/news/uk-world-news/people-baffled-mysterious-half-pig-24667436 | true | 1 |
Roma away in 1999 – How it was, when it was
It was 1999, Sir Bobby was starting to work his magic (how I wish we had got him when King Kev left, instead of Kenny dogleash) and a trip to the eternal city to watch us against Francesco Totti and his Roma boys.
A minibus was booked for the trip down to Stansted for our flight to Rome.
Now at the time, Stansted had a deal on cooked breakfasts, buy one and get unlimited bread to go with it, so after me and monty had gone for a Warburtons, off we go.
In Rome, digs secured then out off down Rome High Street, for a look at the colosseum and wasn’t disappointed. The lads had pictures taken with our flags inside the colosseum, then off on the drink. However, I was fascinated by the place and ended up tagging along with a tour group which was one of the most educational events I’ve experienced.
Match day and about 120 of our lads ( not lads fans Mr Bazooka I may add) meet outside the train station for a few Morrettis. This kid from Bolton turns up and is telling anyone who would listen, that he’d been to the Olympic stadium with Leeds United and had come a cropper with Roma ultras.
So teatime comes and I check out the Rome transport system, and decide, get the metro up and then off it two stops before the ground, then trams up to the match.
We find a bar just outside the tram station when we had got off the metro and we’re having a bevy, when the local police join us. No dramas with them until this young guy who was obviously in charge of them comes storming into the bar wanting to speak to our leader (we don’t have one, no egos in the bender squad). Anyway, Mr Chief of Police makes a beeline for me, shouting at me, demanding what our plans are and he needs me to take charge and follow his instructions. Him addressing me “who is in charge “,very loud and aggressive, then it happens. The place goes silent and then Phil Flavel stands on his seat and proclaims “I am Spartacus’, another one of the lads stands up ‘No, I am Spartacus “…cue raucous laughter, even Mr Capitano police chief had a giggle.
Anyway, onto the match.
Alighting the tram, Roma’s ground is a bit like Wembley way, with trees lining the sides. Now our Leeds loving Bolton / Leeds friend had warned us that the ultras would hide in the trees armed with knives waiting for you..so walking up the tension was very palpable, until Phil Flavel again broke it by singing at the top of his voice “we are the Christians, we hate the Romans “,..cue more laughter.
Anyway, we reach the ground, only to find out we are at the wrong end, and hey ho, about 30 Roma youth ultras face off with us by waving Stanley blades at us, stick or bust?? There’s only two young copper lasses between us and a slashing. So I decided to take matters into my own hands, walking up to bouncing knife wielding youths, I smack what looks like their leader, he goes down and the rest back off (probably to tell their mates next day at school what happened).
Into the match and Sir Bobby plays it defensive and we lose 1-0. To a Totti penalty.
After the game, back into Roma then flight back to Stansted. Minibus home which dropped me back in Low Fell, only for the minibus to break down at the top of my street. So when I was in bed, the lads had another two hours to wait.
If you would like to feature on The Mag, submit your article to [email protected] | https://www.themag.co.uk/2022/08/roma-away-in-1999-how-it-was-when-it-was-newcastle-united/ | 2022-08-04T10:10:42Z | https://www.themag.co.uk/2022/08/roma-away-in-1999-how-it-was-when-it-was-newcastle-united/ | false | 1 |
NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Outset Medical, Inc. ("Outset Medical" or the "Company") (NASDAQ: OM) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Outset Medical investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of all persons or entities who purchased Outset Medical common stock between September 15, 2020, and June 13, 2022. Follow the link below to get more information and be contacted by a member of our team:
OM investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company's flagship product, Tablo Hemodialysis System ("Tablo"), would require an additional 510(k) application to be filed with The United States Food and Drug Administration ("FDA"), as defendants had "continuously made improvements and updates to Tablo over time since its original clearance"; (2) as a result, the Company could not conduct a human factors study on a cleared device in accordance with FDA protocols; (3) the Company's inability to conduct the human factors study subjected the Company to the likelihood of the FDA imposing a "shipment hold" and marketing suspension, leaving the Company unable to sell Tablo for home use; and (4) as a result, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
WHAT'S NEXT? If you suffered a loss in Outset Medical during the relevant time frame, you have until September 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP | https://www.wmbfnews.com/prnewswire/2022/08/04/om-lawsuit-alert-levi-amp-korsinsky-notifies-outset-medical-inc-investors-class-action-lawsuit-upcoming-deadline/ | 2022-08-04T10:13:16Z | https://www.wmbfnews.com/prnewswire/2022/08/04/om-lawsuit-alert-levi-amp-korsinsky-notifies-outset-medical-inc-investors-class-action-lawsuit-upcoming-deadline/ | false | 20527 |
CCU REPORTS CONSOLIDATED SECOND QUARTER 2022 RESULTS1,2
Santiago, Chile, August 3, 2022 - CCU announced today its consolidated financial and operating results for the second quarter 2022, which ended June 30, 2022.
1 For an explanation of the terms used in this report, please refer to the Glossary in Additional Information and Exhibits. Figures in tables and exhibits have been rounded and may not add up exactly to the total shown.
2 All growth or variation references in this Earnings Release refer to 2Q22 compared to 2Q21, unless otherwise stated. For comparison purposes only, in certain sections we include volume variations versus 2Q19, to consider the impacts of COVID-19 in 2020 (lockdowns) and 2021 (strong consumption recovery from extraordinary liquidity).
PRESS RELEASE
We are facing a challenging and volatile macroeconomic scenario. In this context, we need to focus on maintain business scale and recover our margins. On the positive side, in terms of business scale, in spite of a decline in our consolidated volumes, considering a high comparison base versus 2Q21, we reported double-digit growth when compared with pre-pandemic volumes (2Q19). Our business scale remains strong through a constant improvement in brand equity and excellence in sales execution. On the negative side, regarding margins, these were negatively impacted by strong external effects coming from higher prices in commodities, a sharp depreciation of our main local currencies against the USD, and higher inflation levels, impacting our costs and expenses, partially offset by price increases in all our categories and geographies. In summary, during the second semester, we will decidedly continue with our revenue management efforts, along with efficiencies to recover our profitability sustained on a solid business scale.
In 2Q22, our revenues expanded 18.8%, boosted by 22.4% rise in average prices in CLP while volumes contracted 2.9% (11.4% growth vs. 2Q19). The better average prices in CLP were mainly explained by revenue management initiatives and price increases. EBITDA reached CLP 32,471 million, down 47.3% and EBITDA margin decreased from 13.1% to 5.8%. The weaker financial results were mainly associated with: (i) higher cost from raw and packaging materials, (ii) the depreciation of our main local currencies against the USD, impacting negatively our USD denominated costs, partially compensated with export revenues, and (iii) costs and expenses pressures associated with an accelerating inflation in our main geographies, and higher oil prices. The price efforts mentioned above, were not enough to offset these external effects, hence the need to strengthen our revenue management initiatives in the coming quarters. Regarding Net income, we totalized a loss of CLP 10,455 million, versus a gain of CLP 18,968 million last year, caused by the lower EBITDA mentioned above, and a higher loss in Non-operating result, the latter mostly driven by higher Net financial costs, owing to a larger debt.
In the Chile Operating segment, our top line expanded 3.7%, due to 7.3% growth in average prices while volumes declined 3.4% (17.3% growth vs. 2Q19). The higher average prices were explained by revenue management initiatives, partially offset by a negative mix effect in the portfolio. Lower volumes were caused by a high comparison base, and a less favorable consumption environment. Gross profit contracted 19.0%, and Gross margin dropped from 49.5% to 38.7%, mostly as a consequence of cost pressures, and a 17.6%3 devaluation of the CLP against the USD, affecting our USD denominated costs. MSD&A expenses grew 5.0%, and as percentage of Net sales increased 43 bps, where efficiencies helped us to offset expenses pressures coming from higher inflation and oil prices. In all, EBITDA reached CLP 23,711 million, decreasing 59.1%, and EBITDA margin decreased from 18.3% to 7.2%.
In the International Business Operating segment, which includes Argentina, Bolivia, Paraguay and Uruguay, Net sales recorded a 70.9% rise, as a result of an increase of 73.8% in average prices in CLP, while volumes contracted 1.7% (1.7% decrease vs. 2Q19). The better average prices were mostly explained by revenue management initiatives in all the geographies. Volumes in Argentina and Paraguay expanded versus pre-pandemic levels (2Q19), while Uruguay was practically flat and Bolivia declined. Gross profit expanded 73.7%, and Gross margin grew from 44.3% to 45.1%. MSD&A expenses as a percentage of Net sales improved by 235 bps due to efficiencies, compensating higher inflation and other cost pressures. Altogether, EBITDA reached CLP 1,072 million, versus a loss of CLP 2,223 million last year.
In the Wine Operating segment, revenues were up 16.7%, explained by a 17.4% growth in average prices, while volumes decreased 0.5% (13.7% growth vs. 2Q19). The higher prices in CLP were mainly explained by a positive impact on export revenues from the depreciation of the CLP versus the USD, and revenue and mix management initiatives in the Chile and Argentina domestic markets which permitted us to partially compensate higher costs in packaging materials and inflationary pressures. Consequently, Gross profit expanded 13.6% and Gross margin decreased 101 bps from 37.9% to 36.9%. MSD&A expenses grew 17.9%, and as a percentage of Net sales increased 26 bps. In all, EBITDA reached CLP 11,788 million, a 9.1% rise, while EBITDA margin decreased from 16.7% to 15.6%.
In terms of our main international joint ventures, in Colombia, volumes remained growing double digit in the second quarter, driven by beer and malt. In terms of financial results, our increase in business scale together with revenue management initiatives, allowed to improve last year profitability levels, in spite of cost pressures and the recent devaluation of the Colombian peso against the USD. In Argentina, our JV with Aguas Danone de Argentina S.A, showed strong top line growth, led by volumes and prices.
During 2Q22 we faced a challenging and volatile macroeconomic scenario, which will probably remain in the short-term. In order to face this, we will focus on three key aspects to recover our profitability: (i) maintain business scale, (ii) increase prices across our main categories and geographies, and (iii) expenses and costs efficiencies through our CCU Transformation program. This is not the first time we have face such a challenging scenario but we are sure that with the mentioned strategy we will be able to overcome it as we have successfully done it in the past.
3 The CLP currency variation against the USD considers 2022 average of period (aop) compared to 2021 aop.
4 The ARS currency variation against the USD considers 2022 end of period (eop) compared to 2021 eop.
5 See Note 32 Other Gain/(Losses) of our 2Q22 Financial Statements
6 See Note 25 Income taxes of our 2Q22 Financial Statements
CHILE OPERATING SEGMENT
In the Chile Operating segment, our top line expanded 3.7%, due to 7.3% growth in average prices while volumes declined 3.4% (17.3% growth vs. 2Q19). The higher average prices were explained by revenue management initiatives, partially offset by a negative mix effect in the portfolio. Lower volumes were caused by a high comparison base, and a less favorable consumption environment. Gross profit contracted 19.0%, and Gross margin dropped from 49.5% to 38.7%, mostly as a consequence of cost pressures, and a 17.6% devaluation of the CLP against the USD, affecting our USD denominated costs. MSD&A expenses grew 5.0%, and as percentage of Net sales increased 43 bps, where efficiencies helped us to offset expenses pressures coming from higher inflation and oil prices. In all, EBITDA reached CLP 23,711 million, decreasing 59.1%, and EBITDA margin decreased from 18.3% to 7.2%.
In terms of innovation, in beer we presented Patagonia Black Lager, the fourth variety of the successful Patagonia portfolio. Also, our brand Stones launched two new varieties of flavored lager beer, "Tropical" and "Sensation", inspired by our consumers and their preferences towards flavored and easy-to-drink beers. In spirits, we launched Campanario Selección Crème, the first premium variety for Campanario (a mainstream pisco brand), which mixed pisco with cream, with notes of vanilla and chocolate. In the non-alcoholic category, the brand Watt's presented Watt's Selección Frutas y Verduras, a 100% natural juice which combines fruits and vegetables with no sugar added. We also incorporated Gatorade Zero, a no sugar sport drink. Finally, Pepsico awarded CCU as the best Latam bottler, sustained on the good performance of the Pepsico portfolio, world class production processes, and successful marketing campaigns, among other aspects.
Regarding sustainability initiatives, for third consecutive year CCU was part of the 2022 Santiago Marathon, committing with recycling 100% of the recyclable cups in every hydration station, with the purpose of creating sport gear with recyclable materials. In addition, JP Morgan positioned CCU at the top ESG companies in Latam, and at the same time, we obtained the 1st place in the beverages sector, in the Merco Responsibility ESG Chile 2021 ranking, which evaluated progress on issues related to the environment.
INTERNATIONAL BUSINESS OPERATING SEGMENT
In Argentina, we did the kick-off of investments to continue increasing our beer production capacity, reaffirming our long-term commitment with this country. In Paraguay, we incorporated the premium beer Blue Moon, and in Bolivia we launched a new Tangerine flavor for our CSD brand Mendocina.
WINE OPERATING SEGMENT
In terms of innovation, VSPT Wine group continues to expand its low alcohol portfolio with the launch of the new Alpaca Delight in Japan. With only 5.5 alcoholic degrees and less than 50 calories per glass, Alpaca Delight joins the company's portfolio of dealcoholized and partially dealcoholized products in its two versions White Blend and Red Blend. Also, in the permanent search for innovations in products and formats, we launched a new 269 cc can format for the Vibra line of wine cocktails, in orange and sweet flavor, for Paraguay.
In terms of sustainability, VSPT launched a responsible consumption webpage to educate consumers, and it will implement recycling instructions in all its products by 2030, the latter within the framework of the company's new Circular Economy and eco-design policy.
ABOUT CCU
CCU is a multi-category beverage company with operations in Chile, Argentina, Bolivia, Colombia, Paraguay and Uruguay. CCU is one of the largest players in each one of the beverage categories in which it participates in Chile, including beer, soft drinks, mineral and bottled water, nectar, wine and pisco, among others. CCU is the second-largest brewer in Argentina and also participates in the cider, spirits and wine industries. In Uruguay and Paraguay, the Company is present in the beer, mineral and bottled water, soft drinks, wine and nectar categories. In Bolivia, CCU participates in the beer, water, soft drinks and malt beverage categories. In Colombia, the Company participates in the beer and in the malt industry. The Company's principal licensing, distribution and / or joint venture agreements include Heineken Brouwerijen B.V., PepsiCo Inc., Seven-up International, Schweppes Holdings Limited, Société des Produits Nestlé S.A., Pernod Ricard Chile S.A., Promarca S.A. (Watt's), Red Bull Panamá S.A., Stokely Van Camp Inc., and Coors Brewing Company.
CORPORATE HEADQUARTERS
Vitacura 2670, 26th floor
Santiago
Chile
STOCK TICKER
Bolsa de Comercio de Santiago: CCU
NYSE: CCU
CAUTIONARY STATEMENT
Statements made in this press release that relate to CCU's future performance or financial results are forward-looking statements, which involve known and unknown risks and uncertainties that could cause actual performance or results to materially differ. We undertake no obligation to update any of these statements. Persons reading this press release are cautioned not to place undue reliance on these forward-looking statements. These statements should be taken in conjunction with the additional information about risk and uncertainties set forth in CCU's annual report on Form 20-F filed with the US Securities and Exchange Commission and in the annual report submitted to the CMF (Chilean Market Regulator) and available on our web page.
GLOSSARY
Operating segments
The Operating segments are defined with respect to its revenues in the geographic areas of commercial activity:
ARS
Argentine peso.
CLP
Chilean peso.
Cost of sales
Formerly referred to as Cost of Goods Sold (COGS), includes direct costs and manufacturing costs.
Earnings per Share (EPS)
Net profit divided by the weighted average number of shares during the year.
EBIT
Earnings Before Interest and Taxes. For management purposes, EBIT is defined as Net income before other gains (losses), net financial expenses, equity and income of joint ventures, foreign currency exchange differences, results as per adjustment units and income taxes. EBIT is equivalent to Adjusted Operating Result used in the 20-F Form.
EBITDA
EBITDA represents EBIT plus depreciation and amortization. EBITDA is not an accounting measure under IFRS. When analyzing the operating performance, investors should use EBITDA in addition to, not as an alternative for Net income, as this item is defined by IFRS. Investors should also note that CCU's presentation of EBITDA may not be comparable to similarly titled indicators used by other companies. EBITDA is equivalent to ORBDA (Adjusted Operating Result Before Depreciation and Amortization), used in the 20-F Form.
Exceptional Items (EI)
Formerly referred to as Non-recurring items (NRI), Exceptional Items are either income or expenses which do not occur regularly as part of the normal activities of the Company. They are presented separately because they are important for the understanding of the underlying sustainable performance of the Company due to their size or nature.
Gross profit
Gross profit represents the difference between Net sales and Cost of sales.
Gross margin
Gross profit as a percentage of Net sales.
Liquidity ratio
Total current assets / Total current liabilities
Marketing, Sales, Distribution and Administrative expenses (MSD&A)
MSD&A includes marketing, sales, distribution and administrative expenses.
Net Financial Debt
Total Financial Debt minus Cash & Cash Equivalents.
Net Financial Debt / EBITDA
The ratio is based on a twelve month rolling calculation for EBITDA.
Net income
Net income attributable to the equity holders of the parent.
UF
The UF is a monetary unit indexed to the Consumer Price Index variation in Chile.
USD
United States Dollar.
Total
Change %
Attachments
Disclaimer
CCU - Compañía Cervecerías Unidas SA published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 10:06:33 UTC. | https://www.marketscreener.com/quote/stock/COMPA-A-CERVECER-AS-UNID-6492972/news/Compa-a-Cervecer-as-Unidas-S-A-CCU-REPORTS-CONSOLIDATED-SECOND-QUARTER-2022-RESULTS-Form-6-K-41195006/?utm_medium=RSS&utm_content=20220804 | 2022-08-04T10:15:24Z | https://www.marketscreener.com/quote/stock/COMPA-A-CERVECER-AS-UNID-6492972/news/Compa-a-Cervecer-as-Unidas-S-A-CCU-REPORTS-CONSOLIDATED-SECOND-QUARTER-2022-RESULTS-Form-6-K-41195006/?utm_medium=RSS&utm_content=20220804 | false | 1 |
TIGNÉ MALL p.l.c.
Condensed Interim Financial Statements (unaudited) 30 June 2022
Company Registration Number: C35139
Condensed Interim Financial Statements - 30 June 2022
Pages
Interim Directors' Report
1 - 2
Condensed statement of financial position
3
Condensed statement of comprehensive income
4
Condensed statement of changes in equity
5
Condensed statement of cash flows
6
Notes to the condensed Interim Financial Statements
7 - 10
Interim Directors' Report pursuant to Listing Rule 5.75.2
This condensed interim report is published in terms of the Malta Financial Services Authority Listing Rules Chapter 5 and the Prevention of Financial Market Abuse Act, 2005. The interim financial information included in this respect has been extracted from Tigné Mall plc.'s unaudited financial information for the six months ended 30 June 2022 prepared in accordance with IAS 34 'Interim Financial Reporting'. In terms of Listing Rule 5.75.5, this interim report has not been audited or reviewed by the Company's independent auditors.
Principal activities
The Company's principal activity, which is unchanged since last year, is the ownership and management of 'The Point Shopping Mall' and its car park.
Review of the business
During the period under review, the Company continued with its normal trading activities without interruption. The preceding two years both saw a lockdown of around a month and a half in the first half of each year. Therefore, the first half of 2022 represented a return to normality for the business albeit business was a bit slower than in 2021, when shoppers were redeeming Government-issued retail vouchers.
During the period under review, the Company registered a profit after tax of €1,599,450 (30 June 2021: €757,858). As expected, this represents a significant improvement on the past two years when retail was hit with two successive Covid-19 lockdowns. More importantly, the profitability attained also represents an improvement on 2019 results (30 June 2019: €1,193,424). This improvement is mainly the result of uninterrupted collection of rent, higher revenues from the car park and lower finance costs.
Earlier in 2021, the Company had entered into an agreement with the Classic group to replace Debenhams whose operations were wound up in June 2021. Similarly, the Company also entered into an agreement with Spar to replace the previous operator - Chain food store. This has meant that The Point has traded with these two key outlets closed for refurbishment during the period under review. Looking forward, the Company eagerly awaits the opening of these two new outlets in the latter half of the year.
The Company's senior management team has compiled financial projections for the year ending 30 June 2023. These comprise historical financial information up to the date of authorisation for issue of these financial statements and forecast financial information for the period. These cash flow projections show that the Company is expected to continue having sufficient liquidity and financial resources to meet its obligations and expected cash outflows. Based on the outcome of the cash flow projections as referred to above, the Directors and senior management consider the going concern assumption in the preparation of the Company's financial statements as appropriate as at the date of authorisation for issue of the 2022 interim financial statements. They also believe that no material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern exists as at that date.
1
Interim Directors' Report pursuant to Listing Rule 5.75.2 - continued
Review of the business - continued
The Board of Directors is well-aware that the Covid-19 pandemic remains an on-going challenge. Likewise, prevailing inflationary pressures may have an impact on consumer purchasing power. Nevertheless, the Company retains a robust financial position and looks forward to considering any growth opportunities as they may arise, support the tenants, and continue to deliver long-term growth for its shareholders.
In support of this, the Board of Directors is declaring an interim net dividend of €750,000. This will be paid on 2nd September 2022 to shareholders on the Company's register at the Central Securities Depositary of the Malta Stock Exchange at close of business on 19th August 2022.
On behalf of the board
Joseph Zammit Tabona
David Demarco
Chairman
Director
4 August 2022
2
TIGNÉ MALL p.l.c. Condensed Interim Financial statements - 30 June 2022
ASSETS
Non-current assets
Property, plant and equipment
Right-of-use assets
Current assets
Trade and other receivables
Cash and cash equivalents
Total current assets
Total assets
EQUITY
Capital and reserves
LIABILITIES
Non-current liabilities
Trade and other payables
Borrowings
Lease liabilities
Deferred tax liabilities
Total non-current liabilities
Current liabilities
Current tax liabilities
Total current liabilities
As at
30 June 2022 31 December 2021
(unaudited)(audited)
€€
81,810,429 81,400,000
3,894,0393,940,872
85,704,468 85,340,872
3,076,6482,981,236
2,579,9852,826,649
5,656,6325,807,885
91,361,100 91,148,757
58,354,142 56,754,692
703,867695,642
8,385,792 10,011,094
4,196,1794,167,270
13,171,628 13,216,202
26,457,466 28,090,208
4,081,2603,531,832
1,790,8831,787,234
88,80388,803
588,546895,988
6,549,4926,303,857
Total liabilities
33,006,958
34,394,065
Total equity and liabilities
91,361,100
91,148,757
The condensed interim financial information on pages 3 to 10 was authorised for issue by the board of directors on 4 August 2022 and was signed on its behalf by:
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Disclaimer
Tigné Mall plc published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 10:06:30 UTC. | https://www.marketscreener.com/quote/stock/TIGNE-MALL-P-L-C-103505715/news/Tigne-Mall-p-l-c-Interim-Financial-Statements-ended-30-June-2022-41195000/?utm_medium=RSS&utm_content=20220804 | 2022-08-04T10:18:30Z | https://www.marketscreener.com/quote/stock/TIGNE-MALL-P-L-C-103505715/news/Tigne-Mall-p-l-c-Interim-Financial-Statements-ended-30-June-2022-41195000/?utm_medium=RSS&utm_content=20220804 | false | 1 |
Irish Premiership: Glentoran 0-0 Portadown
Last updated on .From the section Football
Irish Cup finalists Glentoran and Portadown played out a disappointing draw in Saturday's league clash at the Oval.
Portadown's best early effort came from Jordan Lyttle whose back post header was saved by Elliott Morris.
The Glens keeper was soon in action again as he sprinted out to thwart Gary Twigg after Peter Mahon's through ball.
In the second half Ports keeper Billy Brennan made a superb reaction save from Danny McKee.
Portadown striker Twigg should have scored from just a few yards out following Chris Casement's cross but he shot against the upright.
"It was a difficult pitch to play on - hopefully before the cup final we can get it into a bit of shape," said Glentoran manager Eddie Patterson.
"There were few chances. Overall, there was no much to talk about."
" | https://www.bbc.com/sport/football/32266688 | 2022-08-04T10:20:03Z | https://www.bbc.com/sport/football/32266688 | true | 1 |
NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Wells Fargo & Company ("Wells Fargo" or the "Company") (NYSE: WFC) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Wells Fargo investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Wells Fargo common stock between February 24, 2021 and June 9, 2022. Follow the link below to get more information and be contacted by a member of our team:
WFC investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Wells Fargo had misrepresented its commitment to diversity in the Company's workplace; (ii) Wells Fargo conducted fake job interviews in order to meet its Diverse Search Requirement; (iii) the foregoing conduct subjected Wells Fargo to an increased risk of regulatory and/or governmental scrutiny and enforcement action, including criminal charges; (iv) all of the foregoing, once revealed, was likely to negatively impact Wells Fargo's reputation; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Wells Fargo during the relevant time frame, you have until August 29, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP | https://www.wsaw.com/prnewswire/2022/08/04/wfc-lawsuit-alert-levi-amp-korsinsky-notifies-wells-fargo-amp-company-investors-class-action-lawsuit-upcoming-deadline/ | 2022-08-04T10:22:19Z | https://www.wsaw.com/prnewswire/2022/08/04/wfc-lawsuit-alert-levi-amp-korsinsky-notifies-wells-fargo-amp-company-investors-class-action-lawsuit-upcoming-deadline/ | true | 20527 |
Pip Edwards oozes cool after split with Michael Clarke
Show Michael what he’s missing? Pip Edwards looks cool at Penfolds event in Sydney just days after ex-Clarke went public with new romance
Pip Edwards ex-boyfriend Michael Clarke just went official Instagram with his new girlfriend, Jade Yarbrough.
But the PE Nation star, 42, seemed to take it in her stride when she was spotted at the Penfolds event at Carriageworks on Wednesday.
Streetwear queen Pip radiated cool in a PE Nation jumper she wore with a white man shirt and thigh-high boots.
Show Michael what he’s missing? Pip Edwards, 42, (pictured) radiated cool at a Penfolds event on Wednesday days after ex-Clarke went public with new romance. In the picture with Britt Gallagher
Pip chose to wear her blonde hair down to the shoulders and opted for a dewy makeup style contrasted with dark mascara.
The business bombshell posed alongside Sydney socialite, Nadia Fairfax and Britt Gallagher, with the pair apparently close friends.
Michael has since gone public with his romance with socialite, Jade Yarbrough, and the pair are going official on Instagram this week.
Jade, 30, recently shared a photo with Michael in Europe, with the former cricketer’s arm draped over her shoulder.
The business bombshell posed alongside Sydney socialite, Nadia Fairfax and Britt Gallagher, with the pair apparently close friends
Jade, 30, recently shared a photo with Michael in Europe, with the former cricketer’s arm draped over her shoulder
It comes after the couple flew out of the country together two weeks ago.
They were spotted at Sydney airport checking in late at night for a business class flight with Emirates.
Pip and Michael’s relationship began in June 2020 following his divorce from wife Kyly Clarke, which they announced four months earlier.
After parting ways with Pip in February, the couple rekindled their romance in October, but broke up again in December.
Michael previously had a high-profile on-again, off-again relationship with PE Nation co-founder Pip Edwards, but broke up in December (both pictured) | https://whatsnew2day.com/pip-edwards-oozes-cool-after-split-with-michael-clarke/ | 2022-08-04T10:23:57Z | https://whatsnew2day.com/pip-edwards-oozes-cool-after-split-with-michael-clarke/ | true | 1 |
Norma Booth, Anne Young and Roisin O'Connell -Hussey ( Event Organiser), at the previous Sunflower Power Charity Event , at The Heath House at the weekend. Photo: Michael Scully.
Get your teddybears dressed up and ready for a lovely day out in Laois.
Families are invited to a special teddybears' picnic amid fields of glorious sunflowers.
The uplifting picnic will take place at Heath House in The Heath as part of the busy Laois Heritage Festival.
The family friendly event is in aid of two good causes, Laois Offaly Families for Autism, and Ukrainian charities.
Picknickers can enjoy traditional Ukraine music.
It follows a similar and hugely successful event at the family farm in Heath House a year ago.
Hosted by owners Roisin and Mark O'Connell, it raised €6,000 for the LOFFA charity which supports people with Autism in Laois and Offaly..
The picnic takes place from 11am to 5pm on Sunday, August 21 at Heath House, Portlaoise R32VH28.
Donations are taken upon entry and the event is weather dependent.
Online booking is required for this event, email roisinoconnellhussey@gmail.com
Subscribe or register today to discover more from DonegalLive.ie
Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.
Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm. | https://www.leinsterexpress.ie/news/arts---entertainment/877046/teddybears-sunflower-picnic-invite-for-laois-offaly-autism-and-ukraine.html | 2022-08-04T10:24:29Z | https://www.leinsterexpress.ie/news/arts---entertainment/877046/teddybears-sunflower-picnic-invite-for-laois-offaly-autism-and-ukraine.html | false | 2 |
Woman is unrecognisable after losing 13st and £20,000 of surgery
This woman looks unrecognizable after dropping 13 bricks and getting a £20,000 makeover.
Jessie Jane O’Brien, 31, of Rossendale, Lancashire, was taunted by playground bullies who called her “Jessie Obese” during her childhood.
In her twenties, she weighed 23 stones at her heaviest, but every diet she tried was unsustainable.
Tired of her size 26 frame, Jessica underwent gastric bypass through the NHS.
She then paid £20,000 for a tummy tuck, liposuction, various lifts including back and chest, along with implants, most of them just before her 30th birthday in September 2021.
Now she is beaming with confidence as she enters a new chapter of her life weighing in at 10th 6lbs.
Jessie Jane O’Brien, 31, of Rossendale, Lancashire, is unrecognizable after losing 13th and undergoing £20,000 surgery
At her heaviest, Jessie weighed 23 and wore clothes in size 26. She tried dieting, but struggled to stick to any of the weight-loss programs she tried.
Jessie transformed her figure after paying £20,000 for a tummy tuck, liposuction, several lifts including back and chest, along with implants
She said, “I feel like I’ve been given a second chance at life.
“I can finally live my life the way I’ve always wanted to.
“I used to hide behind my friends because I was ashamed.
“I’ve never felt worthy, but now I’ve found myself and couldn’t be happier.
Now a size 10, Jessie said she’s living proof that anyone can be who they want to be
“But it hasn’t been easy to get to where I am now, it’s been tough both mentally and physically.”
It took a year for Jessie to halve her body weight, but she was left with excess skin all over her body, forcing her to go for cosmetic surgery.
She has now been under the knife three times abroad; starting with a tummy tuck in Poland costing £5,700 in July 2020.
On arrival in the UK, Jessie developed an infection and had to undergo surgery for three hours to remove it.
Before her weight loss (left), Jessie moved to Manchester because she couldn’t bear to see people bullying her as a child. Jessie after surgery to remove loose skin on her arms, back and abdomen (right)
The ‘terrible’ experience didn’t deter Jessie and she flew to Lithuania in October 2020 for an arm and armpit correction along with a breast lift and implants.
She said: ‘A lot of people think weight loss surgery is the easy option, but it isn’t.
“There are risks involved and it’s scary – it’s so important to research clinics properly.
“Losing 13 stones left me with a sagging back. It didn’t look normal, so I was willing to go under the knife again.
‘From the first tummy tuck I had dog ears on my hips.
Jessie barely recognizes herself in old photos, she’s confident and happy at last, but she denies surgery was an ‘easy’ way to get her dream body
“It wasn’t done right, so I needed another one.
“I saved every penny I made to pay £8,000 for the procedures.
“For me I had no other option – I was overjoyed with my new weight, but my skin was so flabby.
“My breasts looked like they belonged to a 100-year-old lady. They were limp and terrible.
“It was so shocking to watch – I suffered from body dysmorphism for some time before surgery.”
Before she lost weight, Jessie was a size 26 and had J cup breasts. It took her trust and she said she never ‘felt worthy’
Before she lost weight, Jessie had rolls of fat on her back and it destroyed her confidence (left). After her weight loss, one of her past bullies matched up with her on Tinder and didn’t recognize her (right)
Jessie O’Brien, 31, and her mother on her 30th birthday. She had most of her surgeries before reaching the milestone as she was determined it would be a new beginning
Unhappy about her weight, Jessie started working at age 16 because she could no longer handle being around bullies at school. Jessie pictured before her gastric bypass surgery, which she had on the NHS (right)
Before she lost weight, Jessica’s chest had a J cup, they are now a perky 32DD.
Jessie was delighted to wear a size 10 dress for her 30th birthday on September 9, 2020.
More recently, Jessie returned to Lithuania for surgery to remove the excess skin on her legs, arms, back, hips and buttocks.
She adds, “I’m finally happy with my body.
Jessie O’Brien, 31, shows breasts prior to lift and implant. She said she looked 100 years old before her surgery
‘I paid £6,500 for an upper, lower back and hip lift, along with a butt lift and a Brazilian butt lift that transferred fat to my buttocks.
“I have scars, but I love them, they’re part of my story.”
These days, Jessie barely recognizes herself in old photos, she is confident and happy at last.
She’s active and a healthy weight, but a recent non-scale win was when she equaled one of the bullies on Tinder.
She said, “My teenage years were traumatic.
‘When I was 16 I went straight to work because I didn’t want to be around children anymore.
“I even moved to Manchester as a young adult because I hated meeting bullies.
“So it was an incredible moment when I matched one of them on Tinder, he didn’t even recognize me!
“I reminded him who I was and he then unmatched me instead of apologizing, but I don’t mind.
“I’m living proof that you can be who you want to be and that’s all that matters, I hope I inspire others.” | https://whatsnew2day.com/woman-is-unrecognisable-after-losing-13st-and-20000-of-surgery/ | 2022-08-04T10:25:25Z | https://whatsnew2day.com/woman-is-unrecognisable-after-losing-13st-and-20000-of-surgery/ | false | 1 |
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TSX: MFI
Meat Protein delivers top-line growth of 3.8% and Adjusted EBITDA Margin of 9.0% in the quarter
Plant Protein targeting neutral or better Adjusted EBITDA in the latter half of 2023
MISSISSAUGA, ON, Aug. 4, 2022 /PRNewswire/ - Maple Leaf Foods Inc. ("Maple Leaf Foods" or the "Company") (TSX: MFI) today reported its financial results for the second quarter ended June 30, 2022.
"This chaotic and unpredictable operating environment is unprecedented in my 40-year career in the food industry," said Michael H. McCain, President and CEO of Maple Leaf Foods. "Driven by a post-pandemic economy and the tragic conflict in Eastern Europe, we have been unable to hire adequate people resources to operate our supply chains, experienced unnatural agricultural and trading markets, and realized hyper-inflation that has been challenging to keep up with pricing. While our Q2 results fell short of expectations with an Adjusted EBITDA margin of 9% in the Meat Protein Group, we see signs of these conditions abating. Our commitment to achieve 14-16% Adjusted EBITDA was grounded in the assumption of normal, five-year average market conditions and we are confident we will deliver that once the environment stabilizes, although predicting this timeline at the moment is challenging. Our focus on executing our Blueprint to be the most sustainable protein company on earth is absolute."
"In our Plant Protein business, we are in full motion executing our transition to a different business model," continued Mr. McCain. "At the end of Q2, we took steps to materially reduce the size of the organization. We expect to achieve our SG&A targets by the end of this year, and a right sizing of the manufacturing footprint in the first half of 2023, giving us the back half of 2023 as time to make final adjustments. Revenue management adjustments will also occur over the course of the next 12 months. This is a business model in transition back to one of profitable growth."
- Total Company sales grew 3.1% to $1,195.1 million, with an Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")(i) Margin of 6.2%.
- Meat Protein Group sales grew to $1,160.2 million, an increase of 3.8% year over year. Adjusted EBITDA was $104.1 million, and Adjusted EBITDA Margin was 9.0%.
- In the Plant Protein Group, the Company recorded an $18.6 million restructuring charge and took steps to rightsize its Selling, General and Administrative expenses ("SG&A") spend as part of the journey towards Adjusted EBITDA neutrality in the second half of 2023.
- Capital expenditures were $89.7 million and consisted mainly of Construction Capital(i) of $49.9 million, primarily related to the London, Ontario poultry facility.
- Meat Protein: Expect mid-to-high single digit sales growth in 2022, and Adjusted EBITDA Margin expansion to achieve a target range of 14% - 16% when market conditions normalize.
- Plant Protein: Targeting to deliver neutral or better Adjusted EBITDA in the latter half of 2023.
Sales for the second quarter of 2022 were $1,195.1 million compared to $1,158.9 million last year, an increase of 3.1%, driven by higher sales in the Meat Protein Group, partially offset by lower sales in the Plant Protein Group. For more details on sales performance by operating segment, refer to the section entitled Operating Review.
Year-to-date sales for 2022 were $2,321.7 million compared to $2,211.9 million last year, an increase of 5.0%, due to similar factors as noted above.
Net loss for the second quarter of 2022 was $54.6 million ($0.44 per basic share) compared to earnings of $8.8 million ($0.07 per basic share) last year. The net loss resulted from weaker commercial performance due to cost inflation and labour challenges, as well as higher restructuring costs and start-up expenses.
Year-to-date net loss for 2022 was $40.9 million ($0.33 per basic share) compared to earnings of $56.5 million ($0.46 per basic share) last year. The net loss resulted from weaker commercial performance due to cost inflation and labour challenges, as well as higher restructuring costs and start-up expenses.
Adjusted Operating Earnings for the second quarter of 2022 were $23.6 million compared to $58.3 million last year, and Adjusted Earnings per Share for the second quarter of 2022 were $0.00 compared to $0.29 last year due to similar factors as noted above.
Year-to-date Adjusted Operating Earnings for 2022 were $39.7 million compared to $109.8 million last year, and Adjusted Earnings per Share for 2022 were $0.03 compared to $0.56 last year due to similar factors as noted above.
For further discussion on key metrics and a discussion of results by operating segment, refer to the section titled Operating Review.
Note: Several items are excluded from the discussions of underlying earnings performance as they are not representative of ongoing operational activities. Refer to the section entitled Non-IFRS Financial Measures at the end of this news release for a description and reconciliation of all non-IFRS financial measures.
As an essential service, Maple Leaf Foods is focused on protecting the health and well-being of its people, maintaining business continuity and broadening its social outreach. To manage through this unprecedented environment, the Company has taken a number of measures in its business and operating practices that include heightened safety policies and procedures, adopting a vaccination mandate for all employees and contractors, and close communication and collaboration with public health authorities, including hosting on-site vaccination clinics in 2021. The measures enacted to protect the health and safety of employees have increased the Company's current cost structure due to higher labour, personal protective equipment, sanitation and other expenses associated with the pandemic.
Overall, the Company believes its proactive and comprehensive efforts have, and should continue to mitigate adverse operational impacts. As the COVID-19 situation evolves, Maple Leaf Foods will continue to adapt and adopt best practices that prioritize the health and safety of its employees and the stability of the food supply. As part of Maple Leaf Foods' broader social responsibility since the pandemic began, the Company has provided extensive support to front-line staff, emergency food relief efforts and health care providers.
COVID-19 continues to have an impact on the global economy, leading to increased inflation, labour shortages and disruptions in the global supply chain. To date, the Company's leading brands, revenue management capabilities and robust supply chain have enabled it to mitigate these impacts. Maple Leaf Foods continues to monitor the ongoing environment and believes it is well-positioned to face these headwinds.
The Company has two reportable segments. These segments offer different products, with separate organizational structures, brands, financial, and marketing strategies. The Company's chief operating decision makers regularly review internal reports for these businesses: performance of the Meat Protein Group is based on revenue growth, Adjusted Operating Earnings and Adjusted EBITDA, while the performance of the Plant Protein Group in the short term is focused on obtaining Adjusted EBITDA neutral or better results.
The following table summarizes the Company's sales, gross profit, SG&A, Adjusted Operating Earnings, Adjusted EBITDA, and Adjusted EBITDA Margin by operating segment for the three months ended June 30, 2022 and June 30, 2021.
The following table summarizes the Company's sales, gross profit, SG&A, Adjusted Operating Earnings, Adjusted EBITDA, and Adjusted EBITDA Margin by operating segment for the six months ended June 30, 2022 and June 30, 2021.
The Meat Protein Group is comprised of prepared meats, ready-to-cook and ready-to-serve meals, value-added fresh pork and poultry products that are sold to retail, foodservice and industrial channels, and agricultural operations in pork and poultry. The Meat Protein Group includes leading brands such as Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Schneiders® Country Naturals®, Mina®, Greenfield Natural Meat Co.®, and many leading regional brands.
Sales for the second quarter of 2022 increased 3.8% to $1,160.2 million compared to $1,117.5 million last year. Sales growth was driven by pricing action to mitigate inflation and a favourable mix-shift in product sales, including growth in sustainable meats and branded products, partially offset by lower sales volume.
Year-to-date sales for 2022 increased 5.6% to $2,249.6 million compared to $2,131.2 million last year. Sales growth was driven by pricing actions to mitigate inflationary cost increases and favourable mix-shift towards sustainable meats, branded products and growth in sales to the United States. These positive factors were partially offset by lower sales volume.
Gross profit for the second quarter of 2022 was $136.0 million (gross margin of 11.7%) compared to $167.0 million (gross margin of 14.9%) last year. Gross profit was negatively impacted by cost inflation, labour shortages, and pork market headwinds, partially offset by pricing action. Gross profit for the second quarter included start-up expenses of $9.0 million (2021: $1.5 million) associated with Construction Capital projects, which are excluded in the calculation of Adjusted Operating Earnings.
Year-to-date gross profit for 2022 was $266.9 million (gross margin of 11.9%) compared to $333.1 million (gross margin of 15.6%) last year. Gross profit was negatively impacted by operational and supply chain disruptions, inflationary cost increases, and pork market headwinds, partially offset by pricing action. Gross profit year-to-date included start-up expenses of $17.7 million (2021: $2.1 million) associated with Construction Capital projects, which are excluded in the calculation of Adjusted Operating Earnings.
SG&A expenses for the second quarter of 2022 were $87.3 million compared to $81.2 million last year. The increase in SG&A expenses was largely driven by the timing of advertising and promotional expenses and a gradual normalization of discretionary spending.
Year-to-date SG&A expenses for 2022 were $176.0 million compared to $168.3 million last year. The increase in SG&A expenses was driven by the timing of advertising and promotional expenses, a gradual normalization of discretionary spending and donations to support the relief efforts in Ukraine.
Adjusted Operating Earnings for the second quarter of 2022 were $57.7 million compared to $87.3 million last year, consistent with factors noted above.
Year-to-date Adjusted Operating Earnings for 2022 were $108.7 million compared to $167.0 million last year, consistent with factors noted above.
Adjusted EBITDA for the second quarter of 2022 were $104.1 million compared to $131.2 million last year, driven by factors consistent with those noted above. Adjusted EBITDA Margin for the second quarter was 9.0% compared to 11.7% last year, also driven by factors consistent with those noted above.
Year-to-date Adjusted EBITDA for 2022 were $201.6 million compared to $255.1 million last year, driven by factors consistent with those noted above. Year-to-date Adjusted EBITDA Margin for 2022 was 9.0% compared to 12.0% last year, also driven by factors consistent with those noted above.
The Plant Protein Group is comprised of refrigerated plant protein products, premium grain-based protein, and vegan cheese products sold to retail, foodservice and industrial channels. The Plant Protein Group includes the leading brands Lightlife® and Field Roast™.
Sales for the second quarter of 2022 decreased 15.1% to $40.8 million compared to $48.1 million last year. Excluding the impact of foreign exchange, sales decreased 18.4%, driven by lower volumes in retail products. This more than offset pricing action implemented to mitigate inflation and structural cost increases, and growth in foodservice volumes.
Year-to-date sales for 2022 decreased 5.5% to $85.7 million compared to $90.7 million last year. Excluding the impact of foreign exchange, sales decreased 7.5%, driven by lower volumes in retail products. This more than offset growth in foodservice volumes and pricing action implemented to mitigate inflation and structural cost increases.
Gross profit for the second quarter of 2022 was a loss of $10.1 million (gross margin loss of 24.7%) compared to income of $0.3 million (gross margin of 0.6%) last year. The decrease in gross profit was driven by inflationary costs and strategic investments in capacity ahead of anticipated demand, which resulted in increased overhead and short-term costs. This was partially offset by pricing action. Gross profit for the quarter also included start-up expenses of $2.3 million (2021: $0.4 million) associated with Construction Capital projects which are excluded in the calculation of Adjusted Operating Earnings.
Year-to-date gross profit for 2022 was a loss of $16.3 million (gross margin loss of 19.1%) compared to income of $0.4 million (gross margin of 0.5%) last year. The decrease in gross profit was driven by inflationary costs and strategic investments in capacity ahead of anticipated demand, which resulted in increased overhead and short-term costs. This was partially offset by pricing action. Year-to-date Gross profit also included start-up expenses of $4.5 million (2021: $1.0 million) associated with Construction Capital projects which are excluded in the calculation of Adjusted Operating Earnings.
SG&A expenses for the second quarter of 2022 were $26.3 million (64.4% of sales) compared to $29.8 million (61.9% of sales) last year. The decrease in SG&A expenses was primarily attributable to lower advertising expenses, partially offset by higher consulting and people costs.
Year-to-date SG&A expenses for 2022 were $57.1 million (66.6% of sales) compared to $58.6 million (64.6% of sales) last year. The decrease in SG&A expenses was primarily attributable to lower advertising expenses, partially offset by higher consulting and people costs.
Adjusted Operating Earnings for the second quarter of 2022 were a loss of $34.0 million compared to a loss of $29.1 million last year. The decrease in Adjusted Operating Earnings is consistent with the factors noted above.
Year-to-date Adjusted Operating Earnings for 2022 were a loss of $68.9 million compared to a loss of $57.1 million last year. The decrease in Adjusted Operating Earnings is consistent with the factors noted above.
On August 3, 2022, the Board of Directors approved a quarterly dividend of $0.20 per share (an increase of $0.02 per share from the 2021 second quarter dividends), $0.80 per share on an annual basis, payable September 29, 2022 to shareholders of record at the close of business September 8, 2022. Unless indicated otherwise by the Company at or before the time the dividend is paid, the dividend will be considered an eligible dividend for the purposes of the "Enhanced Dividend Tax Credit System".
A conference call will be held at 8:00 a.m. ET on August 4, 2022, to review Maple Leaf Foods' second quarter financial results. To participate in the call, please dial 416-764-8650 or 1-888-664-6383. For those unable to participate, playback will be made available an hour after the event at 416-764-8677 or 1-888-390-0541 (Passscode: 642262#).
A webcast of the second quarter conference call will also be available at: https://www.mapleleaffoods.com
The Company's full unaudited consolidated interim financial statements ("Consolidated Interim Financial Statements") and related Management's Discussion and Analysis are available on the Company's website.
An investor presentation related to the Company's second quarter financial results is available at www.mapleleaffoods.com and can be found under Presentations and Webcasts on the Investors page.
Maple Leaf Foods is a leading consumer protein company, supported by a portfolio of market leading brands, a solid balance sheet and capital structure that provide financial flexibility. Over the last several years, the Company has developed a foundation to pursue compelling growth vectors across its business and to create value for all stakeholders.
Meat Protein Group
In Meat Protein, the Company's strategy is to drive profitable growth. In 2017, Maple Leaf Foods articulated its target to reach an Adjusted EBITDA Margin of 14% - 16% in 2022, assuming normal market conditions, including a pork complex in-line with the 5-year average.
Given the unprecedented market dynamics, marked by a challenging post-pandemic economy, the conflict in Europe, high inflation and significant market and supply chain disruption, Maple Leaf Foods expects that its Meat Protein Group will achieve the following:
- Mid-to-high single digit sales growth in 2022, driven by continued momentum in sustainable meats, leveraging brand leadership, and growth into the U.S. market.
- Adjusted EBITDA Margin expansion to 14% - 16% target range once markets normalize, driven by mix-shift benefits in prepared meats resulting from growth in sustainable meats and brand renovation, as well as operational efficiencies.
Plant Protein Group
- In late 2021, the Company announced that it was re-evaluating its outlook for the Plant Protein Group and launching a comprehensive review of the overall plant protein category. This decision was driven by a pronounced slowdown in growth rates in the category, particularly in the second half of the year, which fueled the Company's imperative to identify and thoroughly assess the causes, near and long-term trends, and overall implications. While the Company's analysis is ongoing, the results to date confirm that the very high category growth rates previously predicted by many industry experts are unlikely to be achieved given current customer feedback, experience, buy rates and household penetration. Based on this new information, the Company believes that the category will continue to grow at more modest, but still attractive rates. Current estimates suggest that the category will grow at an average annual rate of 10% to 15%, making it a $6 billion to $10 billion market by 2030. Accordingly, the Company is pivoting its strategy and investment thesis for the Plant Protein Group and has set a new goal to deliver neutral or better Adjusted EBITDA in the latter half of 2023. Work is ongoing to implement this pivot. Given the current size of the Plant Protein Group of approximately US$150 million of annual revenue in 2021, the expected resultant business model from this strategy would deliver a 30% gross margin, with less than US$50 million in SG&A, to achieve the stated Adjusted EBITDA target.
Capital
- The Company's capital expenditure estimate for the full year of 2022 remains unchanged and in the range of $400 million to $500 million, with approximately 50% to be comprised of Construction Capital attributable to the construction of the London, Ontario poultry facility and the remainder largely relating to other projects to add growth and capacity in the Prepared Meats business and to expand hog production.
- The Company expects the London, Ontario poultry facility to start to deliver approximately $100 million annually of additional Adjusted EBITDA once fully ramped up which is expected to be by the end of 2023. Additionally, the Company expects the Bacon Centre of Excellence to contribute approximately $30 million annually of additional Adjusted EBITDA once fully ramped up which is expected to be in the second half of 2023.
The ongoing effects of COVID-19 induced supply chain disruptions and the war in Ukraine are unpredictable and may impact a number of factors that drive growth in the business, including:
- Agricultural commodity and foreign exchange markets;
- Inflationary cost pressures;
- Disruptions in the global supply chain;
- Availability of labour; and
- The balance between retail and foodservice demand.
For more information on the impact of COVID-19 on the business and the associated risks, refer to the section titled Response to COVID-19, and for more information on the factors that may influence future performance, see the section titled Forward-Looking Statements in this news release.
The execution of the Company's financial and operational priorities are embedded in a commitment to deliver shared value for the benefit of all stakeholders. The Company's guiding pillars to be the "Most Sustainable Protein Company on Earth" include Better Food, Better Care, Better Communities, Better Planet and are core to how Maple Leaf Foods conducts itself. To that end, the Company's priorities include:
- Better Food - leading the real food movement and transitioning key brands to 100% "raised without antibiotics".
- Better Care - further advancement of animal care, after achieving our transition of all sows under management to open housing systems in 2021.
- Better Communities - investing a minimum of approximately 1% of pre-tax profit to advance sustainable food security.
- Better Planet - continuing to amplify its commitment to carbon neutrality, while focusing on eliminating waste in any resources it consumes, including food, energy, water, packaging, and time.
The Company uses the following non-IFRS measures: Adjusted Operating Earnings, Adjusted Earnings per Share, Adjusted EBITDA, Adjusted EBITDA Margin, Construction Capital, Net Debt, Free Cash Flow and Return on Net Assets. Management believes that these non-IFRS measures provide useful information to investors in measuring the financial performance of the Company for the reasons outlined below. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS.
Adjusted Operating Earnings, Adjusted EBITDA and Adjusted EBITDA Margin are non-IFRS measures used by Management to evaluate financial operating results. Adjusted Operating Earnings is defined as earnings before other income, income taxes and interest expense adjusted for items that are not considered representative of ongoing operational activities of the business and items where the economic impact of the transactions will be reflected in earnings in future periods when the underlying asset is sold or transferred. Adjusted EBITDA is defined as Adjusted Operating Earnings plus depreciation and intangible asset amortization, adjusted for items included in other expense that are considered representative of ongoing operational activities of the business. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by sales.
The table below provides a reconciliation of earnings (loss) before income taxes as reported under IFRS in the Consolidated Interim Financial Statements to Adjusted Operating Earnings and Adjusted EBITDA for the three and six months ended June 30, 2022 as indicated below. Management believes that these non-IFRS measures are useful in assessing the performance of the Company's ongoing operations and its ability to generate cash flows to fund its cash requirements, including the Company's capital investment program.
Adjusted Earnings per Share, a non-IFRS measure, is used by Management to evaluate financial operating results. It is defined as basic earnings per share and is adjusted on the same basis as Adjusted Operating Earnings. The table below provides a reconciliation of basic earnings per share as reported under IFRS in the Consolidated Interim Financial Statements to Adjusted Earnings per Share for the three and six months ended June 30, as indicated below. Management believes this basis is the most appropriate on which to evaluate financial results as they are representative of the ongoing operations of the Company.
Construction Capital, a non-IFRS measure, is used by Management to evaluate the amount of capital resources invested in specific strategic development projects that are not yet operational. It is defined as investments and related financing charges in projects over $50.0 million that are related to longer-term strategic initiatives, with no returns expected for at least 12 months from commencement of construction and the asset will be re-categorized from Construction Capital once operational. The current balance of construction capital includes investments in the London, Ontario poultry production facility. The expansion of the Bacon Centre of Excellence in Winnipeg, Manitoba, was completed in the fourth quarter of 2021 and recategorized. Investments in capacity at the Walker Drive facility in Brampton, Ontario, and the plant protein production facilities in Indiana were completed in the first quarter of 2022 and have been recategorized. The following table is a summary of Construction Capital activity and debt financing for the periods indicated below.
The following table reconciles Net Debt to amounts reported under IFRS in the Company's Consolidated Interim Financial Statements as at June 30, as indicated below. The Company calculates Net Debt as cash and cash equivalents, less long-term debt and bank indebtedness. Management believes this measure is useful in assessing the amount of financial leverage employed.
Free Cash Flow, a non-IFRS measure, is used by Management to evaluate cash flow after investing in the maintenance or expansion of the Company's asset base. It is defined as cash provided by operations, less cash additions to long-term assets and capitalized interest. The following table calculates Free Cash Flow for the periods indicated below:
Return on Net Assets ("RONA") is calculated by dividing tax effected earnings from operations (adjusted for items which are not considered representative of the underlying operations of the business) by average monthly net assets. Net assets are defined as total assets (excluding cash and deferred tax assets) less non-interest bearing liabilities (excluding deferred tax liabilities). Management believes that RONA is an appropriate basis upon which to evaluate long-term financial performance.
This document contains, and the Company's oral and written public communications often contain, "forward-looking information" within the meaning of applicable securities law. These statements are based on current expectations, estimates, projections, beliefs, judgments and assumptions based on information available at the time the applicable forward-looking statement was made and in light of the Company's experience combined with its perception of historical trends. Such statements include, but are not limited to, statements with respect to objectives and goals, in addition to statements with respect to beliefs, plans, targets, goals, objectives, expectations, anticipations, estimates, and intentions. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "could", "would", "believe", "plan", "intend", "design", "target", "undertake", "view", "indicate", "maintain", "explore", "entail", "schedule", "objective", "strategy", "likely", "potential", "outlook", "aim", "propose", "goal", and similar expressions suggesting future events or future performance. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Specific forward-looking information in this document may include, but is not limited to, statements with respect to:
- implications of COVID-19, including implications for supply chain, workforce availability and consumption patterns;
- future performance, including future financial objectives, goals and targets, category growth analysis, expected capital spend and expected SG&A expenditures for the Company and each of its operating segments;
- the execution of the Company's business strategy, including the development and expected timing of business initiatives, brand expansion and repositioning, plant protein category investment and performance, and other growth opportunities, as well as the impact thereof;
- the impact of international trade conditions and markets on the Company's business, including access to markets, implications associated with the spread of foreign animal disease (such as African Swine Fever ("ASF")) and other animal diseases such as Avian Influenza, as well as other social, economic and political factors that affect trade, including the war in Ukraine;
- competitive conditions and the Company's ability to position itself competitively in the markets in which it competes;
- capital projects, including planning, construction, estimated expenditures, schedules, approvals, expected capacity, in-service dates and anticipated benefits of construction of new facilities and expansions of existing facilities;
- the Company's dividend policy, including future levels and sustainability of cash dividends, the tax treatment thereof and future dividend payment dates;
- the impact of commodity prices on the Company's operations and financial performance, including the use and effectiveness of hedging instruments;
- expected future cash flows and the sufficiency thereof, sources of capital at attractive rates, future contractual obligations, future financing options, renewal of credit facilities, and availability of capital to fund growth plans, operating obligations and dividends;
- operating risks, including the execution, monitoring and continuous improvement of the Company's food safety programs, animal health initiatives and cost reduction initiatives;
- the implementation, cost and impact of environmental sustainability initiatives, as well as the anticipated future cost of remediating environmental liabilities;
- the adoption of new accounting standards and the impact of such adoption on the financial position of the Company;
- expectations regarding pension plan performance, including future pension plan assets, liabilities and contributions; and
- developments and implications of actual or potential legal actions.
Various factors or assumptions are typically applied by the Company in drawing conclusions or making the forecasts, projections, predictions or estimations set out in the forward-looking statements. These factors and assumptions are based on information currently available to the Company, including information obtained by the Company from third-party sources and include but are not limited to the following:
- expectations regarding the impact and future implications of COVID-19 and adaptations in operations, supply chain, customer and consumer behaviour, economic patterns and international trade;
- the competitive environment, associated market conditions and market share metrics, category growth or contraction, the expected behaviour of competitors and customers and trends in consumer preferences;
- the success of the Company's business strategy, including execution of the strategy in the Meat Protein Group and the outcome of the category analysis related to the strategy for the Plant Protein Groups;
- prevailing commodity prices, interest rates, tax rates and exchange rates;
- the impact of the war in Ukraine on international relations, trade and markets, as well as the economic condition of and the sociopolitical dynamics between Canada, the U.S., Japan and China, and the ability of the Company to access markets and source ingredients and other inputs in light of global sociopolitical disruption;
- the spread of foreign animal disease (including ASF and Avian Influenza), preparedness strategies to manage such spread, and implications for all protein markets;
- the availability of capital to fund future capital requirements associated with existing operations, assets and projects;
- expectations regarding participation in and funding of the Company's pension plans;
- the availability of insurance coverage to manage certain liability exposures;
- the extent of future liabilities and recoveries related to legal claims;
- prevailing regulatory, tax and environmental laws; and
- future operating costs and performance, including the Company's ability to achieve operating efficiencies and maintain high sales volumes, high turnover of inventories and high turnover of accounts receivable.
Readers are cautioned that these assumptions may prove to be incorrect in whole or in part. The Company's actual results may differ materially from those anticipated in any forward-looking statements.
Factors that could cause actual results or outcomes to differ materially from the results expressed, implied, or projected in the forward-looking statements contained in this document include, among other things, risks associated with the following:
- implications of COVID-19 on the operations and financial performance of the Company, as well the implications for macro socio-economic trends;
- competition, market conditions and the activities of competitors and customers, including the expansion or contraction of key categories (including plant protein);
- the health status of livestock, including the impact of potential pandemics;
- international trade and access to markets and supplies, as well as social, political and economic dynamics, including the war in Ukraine;
- availability of and access to capital;
- decision respecting the return of capital to shareholders;
- the execution of capital projects, including cost, schedule and regulatory variables;
- food safety, consumer liability and product recalls;
- cyber security and the maintenance and operation of the Company's information systems and processes;
- climate change;
- strategic risk management, including the outcome of the analysis of the plant protein category;
- acquisitions and divestitures;
- fluctuations in the debt and equity markets;
- fluctuations in interest rates and currency exchange rates;
- pension assets and liabilities;
- cyclical nature of the cost and supply of hogs and the competitive nature of the pork market generally;
- the effectiveness of commodity and interest rate hedging strategies;
- impact of changes in the market value of the biological assets and hedging instruments;
- the supply management system for poultry in Canada;
- availability of plant protein ingredients;
- intellectual property, including product innovation, product development, brand strategy and trademark protection;
- consolidation of operations and focus on protein;
- the use of contract manufacturers;
- reputation;
- weather;
- compliance with government regulation and adapting to changes in laws;
- actual and threatened legal claims;
- consumer trends and changes in consumer tastes and buying patterns;
- environmental regulation and potential environmental liabilities;
- consolidation in the retail environment;
- employment matters, including complying with employment laws across multiple jurisdictions, the potential for work stoppages due to non-renewal of collective agreements, recruiting and retaining qualified personnel, reliance on key personnel and succession planning;
- pricing of products;
- managing the Company's supply chain;
- changes in International Financial Reporting Standards and other accounting standards that the Company is required to adhere to for regulatory purposes; and
- other factors as set out under the heading "Risk Factors" in the Company's Management Discussion and Analysis for the year ended December 31, 2021.
The Company cautions readers that the foregoing list of factors is not exhaustive.
Readers are further cautioned that some of the forward-looking information, such as statements concerning future capital expenditures, Adjusted EBITDA Margin growth in the Meat Protein Group, and Adjusted EBITDA target in the Plant Protein Group (including the timing, pace and impact of restructuring activities), may be considered to be financial outlooks for purposes of applicable securities legislation. These financial outlooks are presented to evaluate potential future earnings and anticipated future uses of cash flows and may not be appropriate for other purposes. Readers should not assume these financial outlooks will be achieved.
More information about risk factors can be found under the heading "Risk Factors" in the Company's Annual Management's Discussion and Analysis for the year ended December 31, 2021, that is available on SEDAR at www.sedar.com. The reader should review such section in detail. Additional information concerning the Company, including the Company's Annual Information Form, is available on SEDAR at www.sedar.com.
All forward-looking statements included herein speak only as of the date hereof. Unless required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements contained herein are expressly qualified by this cautionary statement.
Maple Leaf Foods is a carbon neutral company with a vision to be the most sustainable protein company on earth, responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Schneiders® Country Naturals®, Mina®, Greenfield Natural Meat Co.®, Lightlife® and Field Roast™. The Company employs approximately 13,500 people and does business primarily in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI).
Income (Loss)
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SOURCE Maple Leaf Foods Inc. | https://www.wdam.com/prnewswire/2022/08/04/maple-leaf-foods-reports-second-quarter-2022-financial-results/ | 2022-08-04T10:27:31Z | https://www.wdam.com/prnewswire/2022/08/04/maple-leaf-foods-reports-second-quarter-2022-financial-results/ | true | 12 |
Yes.
India came third well done to the Singh!
Yes.
India came third well done to the Singh!
Tell me I'm dreaming!
Pakistan has so much talent, it’s a shame 9/10 it’s going to waste, almost all athletes who end up going here literally train from home without any government backing or training, failing to reach even 1/4th of their potential. congrats to Muhammad noor, done the country proud, hopefully from now it’s upwards and forwards for Pakistan and it’s athletes.
Cricket survives because of wide spread passion amongst the populace and a existing infrastructure and players
Nah bro he lifted massive. | https://defence.pk/pdf/threads/pakistani-weightlifter-nooh-dastagir-butt-wins-superheavyweight-weightlifting-232kg-lift.748245/ | 2022-08-04T10:29:46Z | https://defence.pk/pdf/threads/pakistani-weightlifter-nooh-dastagir-butt-wins-superheavyweight-weightlifting-232kg-lift.748245/ | true | null |
In its first legal challenge over reproductive rights since Roe v Wade was overturned, the Justice Department is suing Idaho over a near total abortion ban.
Copyright 2022 NPR
In its first legal challenge over reproductive rights since Roe v Wade was overturned, the Justice Department is suing Idaho over a near total abortion ban.
Copyright 2022 NPR | https://www.kucb.org/2022-08-04/justice-department-files-a-lawsuit-against-idahos-restrictive-abortion-law | 2022-08-04T10:29:58Z | https://www.kucb.org/2022-08-04/justice-department-files-a-lawsuit-against-idahos-restrictive-abortion-law | true | null |
You need to enable JavaScript to run this app. | https://sportspyder.com/nfl/philadelphia-eagles/articles/40284467 | 2022-08-04T10:30:46Z | https://sportspyder.com/nfl/philadelphia-eagles/articles/40284467 | true | null |
AXIS provides a comprehensive platform specifically developed for commercial lending operations
CHICAGO, Aug. 4, 2022 /PRNewswire/ -- AIO Logic is announcing the launch of their AXIS commercial lending platform. AXIS by AIO Logic provides commercial lenders with increased efficiency and accuracy throughout the loan life cycle by providing them with unprecedented automation and analytics within an end-to-end origination, management, and servicing platform.
"Our leadership has decades of collective experience in managing commercial lending enterprises," said George Souri, CEO of AIO Logic. "Our experience in the space has given us the insight to develop a platform that is uniquely capable to optimize commercial lending operations."
AXIS is the only commercial lending platform with complete end-to-end functionality and features best-of-class data security with 13 security certificates, including ISO, SOC, NEN, ISAE, and PCI. AIO AXIS is engineered for customization to each lender's particular processes and requirements, providing robust functionality and unparalleled user experience. The AXIS platform can be deployed at a fraction of the time and money of multi-platform integrations.
"Other CRMs are not designed for lenders and do not include the request tracking, document collection, and review features that lenders need," said Souri.
Demos are available by appointment only and can be scheduled by emailing [email protected].
About AIO Logic
AIO Logic is a financial technology company providing SaaS solutions to SMB and middle market commercial lenders. Their loan and portfolio management platform, AXIS, is the only end to end solution capable of managing the complex requirements and bespoke loan structures of SMB and middle market commercial lending.
Press Contact:
AIO Logic
Phone: (855) 402-2077
Email: [email protected]
171 N. Aberdeen Street, Suite 400
Chicago, IL 60607
aiologic.io
SOURCE AIO Logic | https://www.prnewswire.com/news-releases/aio-logic-launches-axis-end-to-end-platform-for-commercial-lenders-301599262.html | 2022-08-04T10:31:49Z | https://www.prnewswire.com/news-releases/aio-logic-launches-axis-end-to-end-platform-for-commercial-lenders-301599262.html | true | 10 |
You need to enable JavaScript to run this app. | https://sportspyder.com/mlb/san-diego-padres/articles/40284803 | 2022-08-04T10:35:09Z | https://sportspyder.com/mlb/san-diego-padres/articles/40284803 | false | null |
Dublin, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The "Middle East Missile Defense Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study maps the Middle East MD land-based segment trends, programs, and platforms in five leading countries, exploring all MD categories. This study uses secondary and primary research data, including information from the publisher's database. Primary research accounts for 20% of the study as the principal analyst conducted interviews with leading market stakeholders.
Middle Eastern countries increasingly acquire and develop missile defense (MD) capabilities to counter regional threats posed by Iran's projected aggression in expanding the range, accuracy, stealth, and lethality of its offensive missiles and integrating them into military concepts of operations and coercive threats. This trend catalyzes regional MD participants to transform their military posture rapidly for MD projection as part of their military deterrence strategy.
International MD cooperation is becoming vital to the global defense and regional military coalitions, including in the Middle East. International cooperation enhances the national security of members and supports efforts to counter advanced missile threats. The MD cooperative engagement in the Gulf Cooperation Council (GCC) is still in the preliminary stages.
Cooperation could improve by developing indigenous industries, participating in joint military exercises, streamlining the MD sales process, and collaborating with the United States and Israel, the global leaders for MD, following the signing of the Abraham Accords.
However, the lack of operational MD experience, technological gaps, and command and control challenges limit most GCC members in promoting and deploying advanced MD solutions. These restraints become even more complex when discussing multilayered regional architecture, a leading US national security interest in the Middle East.
The study highlights primary MD subsystems deployed in the Middle East, such as advanced radars and solutions for command, control, communications, computers, intelligence, surveillance, and reconnaissance.
The study expects the MD industry to prioritize specific technologies, such as directed energy, an advanced ground-based electric laser, or fiber laser, and outlines growth opportunities on which market stakeholders can capitalize.
Key Topics Covered:
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on the Middle East Missile Defense Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis
- What You Need To Know
- Trends
- Challenges
- Evolving Concept of Operations
- Segmentation
- Key Competitors
- Growth Drivers
- Growth Restraints
3. Industry Overview
- Leading Regional MD Platforms by Category
- MD Projection in the Middle East
4. Country Profiles for MD Systems
- Israel
- Israel's MD Architecture
- Saudi Arabia
- United Arab Emirates
- Turkey
- Qatar
- Top MD Contracts in 2022
5. Growth Opportunity Universe
- Growth Opportunity 1: US MD to Continue Shaping the Middle East MD Market
- Growth Opportunity 2: Abraham Accords to Push for Regional MD Alliance
- Growth Opportunity 3: Information Sharing for Early Warning and T&S
- Growth Opportunity 4: The Middle East Indigenous Defense Industry to Expand Opportunities for Joint MD Programs
- Growth Opportunity 5: Game-changing DE MD Systems
6. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/w5zzx6 | https://www.globenewswire.com/news-release/2022/08/04/2492075/28124/en/Middle-East-Missile-Defense-Markets-Report-2022-Strategic-Partnering-to-Transform-Indigenous-Defense-Capabilities-and-Drive-Growth-Strategies.html | 2022-08-04T10:37:48Z | https://www.globenewswire.com/news-release/2022/08/04/2492075/28124/en/Middle-East-Missile-Defense-Markets-Report-2022-Strategic-Partnering-to-Transform-Indigenous-Defense-Capabilities-and-Drive-Growth-Strategies.html | false | 2 |
NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Weber Inc. ("Weber" or the "Company") (NYSE: WEBR) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Weber investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Weber Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's August 2021 initial public offering. Follow the link below to get more information and be contacted by a member of our team:
WEBR investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Weber was reasonably likely to implement price increases; (2) as a result, consumer demand for Weber's products was reasonably likely to decrease; (3) due to the resulting inventory buildup, Weber was reasonably likely to run promotions to "enhance retail sell through"; (4) the foregoing would adversely impact Weber's financial results; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Weber during the relevant time frame, you have until September 27, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP | https://www.wctv.tv/prnewswire/2022/08/04/webr-lawsuit-alert-levi-amp-korsinsky-notifies-weber-inc-investors-class-action-lawsuit-upcoming-deadline/ | 2022-08-04T10:38:02Z | https://www.wctv.tv/prnewswire/2022/08/04/webr-lawsuit-alert-levi-amp-korsinsky-notifies-weber-inc-investors-class-action-lawsuit-upcoming-deadline/ | false | 20527 |
NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Apyx Medical Corporation ("Apyx" or the "Company") (NASDAQ: APYX) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Apyx investors who were adversely affected by alleged securities fraud between May 12, 2021 and March 11, 2022. Follow the link below to get more information and be contacted by a member of our team:
APYX investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) a significant number of Apyx's Advanced Energy products were used for off-label indications; (2) such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events; (3) as a result, the Company was reasonably likely to incur regulatory scrutiny; (4) as a result of the foregoing, the Company's financial results would be adversely impacted; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Apyx during the relevant time frame, you have until August 5, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP | https://www.newschannel10.com/prnewswire/2022/08/04/apyx-lawsuit-alert-levi-amp-korsinsky-notifies-apyx-medical-corporation-investors-class-action-lawsuit-upcoming-deadline/ | 2022-08-04T10:39:09Z | https://www.newschannel10.com/prnewswire/2022/08/04/apyx-lawsuit-alert-levi-amp-korsinsky-notifies-apyx-medical-corporation-investors-class-action-lawsuit-upcoming-deadline/ | false | 20527 |
HOLLISTON, Mass. (AP) _ Harvard Bioscience Inc. (HBIO) on Wednesday reported second-quarter net income of $2.4 million, after reporting a loss in the same period a year earlier.
The Holliston, Massachusetts-based company said it had profit of 6 cents per share. Earnings, adjusted for one-time gains and costs, came to 5 cents per share.
The medical instruments maker posted revenue of $29.2 million in the period.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBIO at https://www.zacks.com/ap/HBIO | https://www.myjournalcourier.com/business/article/Harvard-Bioscience-Q2-Earnings-Snapshot-17350540.php | 2022-08-04T10:39:42Z | https://www.myjournalcourier.com/business/article/Harvard-Bioscience-Q2-Earnings-Snapshot-17350540.php | true | null |
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SECOND QUARTER 2022 HIGHLIGHTS
- Total transaction volume of $22.5 billion, up 67% from Q2'21
- Total revenues of $340.8 million, up 21% from Q2'21
- Net income of $54.3 million and diluted earnings per share of $1.61, down 3% and 7%, respectively, from Q2'21
- Adjusted EBITDA1 of $94.8 million, up 43% from Q2'21
- Servicing portfolio of $119.0 billion at June 30, 2022 up 6% from June 30, 2021
- Declared quarterly dividend of $0.60 per share for the third quarter
YEAR-TO-DATE 2022 HIGHLIGHTS
- Total transaction volume of $35.2 billion, up 56% from 2021
- Total revenues of $660.3 million, up 31% from 2021
- Net income of $125.5 million and diluted earnings per share of $3.73, up 10% and 6%, respectively, from 2021
- Adjusted EBITDA1 of $157.5 million, up 24% from 2021
BETHESDA, Md., Aug. 4, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) (the "Company" or "W&D") reported total revenues of $340.8 million for the second quarter of 2022, an increase of 21% year over year. Second quarter total transaction volume was $22.5 billion, up 67% year over year, reflecting the Company's expanding brand and ability to meet more of its client's needs. Net income for the second quarter of 2022 was $54.3 million or $1.61 per diluted share, down 3% and 7%, respectively, from the second quarter of 2021, predominantly due to a decrease in non-cash mortgage servicing rights revenues. Second quarter 2022 adjusted EBITDA1 was $94.8 million, up 43% over the same period in 2021, driven by growth in cash revenues from services businesses. The Company's Board of Directors declared a dividend of $0.60 per share for the third quarter of 2022. The Company had $151.3 million of cash as of June 30, 2022.
"Our exceptional second quarter financial results demonstrate the strong return on investment we've made in our people, brand, and technology over the past few years," commented Willy Walker, Chairman and CEO. "The dramatic growth in our origination volume led to adjusted EBITDA growth of 43% year over year, reflecting our transition from a lending-centric mortgage bank to a broader, technology-enabled financial services company."
Mr. Walker continued, "The multifamily market continues to perform exceptionally well from a credit and fundamentals standpoint. W&D enters the second half of 2022 with very strong pipelines across our business, particularly with the GSEs and HUD which supply counter-cyclical liquidity as other capital providers struggle to digest rising rates and recessionary fears. Walker & Dunlop's business model is designed to perform through all cycles, with outperformance in both the pandemic-hobbled year of 2020 and Fed-induced free money year of 2021 as two dramatically different examples. The investments we've made in people, brand and technology have made us more relevant to our clients today than ever before, driving dramatic growth in our banking and brokerage volumes. The breadth of our platform, investments we continue to make in emerging, technologically-driven businesses, and corporate culture set us apart from the competition and will continue to drive financial success over the coming years."
CONSOLIDATED SECOND QUARTER 2022 OPERATING RESULTS
Discussion of Results:
- Total debt financing volume increased 44% from the second quarter of 2021. This increase is reflective of strong GSE and brokered debt financing volumes, which increased 74% and 47%, respectively, year over year.
- GSE volumes were largely driven by a 105% increase in our Fannie Mae lending activity, which included a $1.9 billion portfolio in the second quarter of 2022. As a result, our combined GSE market share for the quarter increased to 15% and our year-to-date market share rose to 14%.
- HUD debt financing volumes decreased in the second quarter of 2022, as continued high levels of inflation and an increasing interest-rate environment during the quarter made the HUD product a less favorable source of financing for our multifamily properties. Despite this decline, our Agency debt financing volume increased 47% quarter over quarter, indicating continued strength in the overall multifamily financing market.
- The 47% increase in brokered volume in the second quarter of 2022 reflects our continued ability to meet our clients' broad range of capital needs, strong demand for all commercial real estate property types, and the impacts of our investments in people, brand and technology. We continue to see a benefit from our investments in acquiring and recruiting commercial mortgage bankers, the significant amount of capital being invested into U.S. commercial real estate, and our valued relationships with commercial real estate capital providers.
- Property sales volume increased 136% in the second quarter of 2022 due to the significant growth in our property sales team over the past year in key markets and strong investor appetite for multifamily assets.
Discussion of Results:
- Our servicing portfolio continues to expand as a result of the strong debt financing volume over the past 12 months, partially offset by payoffs of loans.
- During the second quarter of 2022, we added $2.8 billion of net loans to our servicing portfolio, and over the past 12 months, we added $6.7 billion of net loans to our servicing portfolio, 90% of which were Fannie Mae loans.
- $5.4 billion of Agency loans in our servicing portfolio are scheduled to mature over the next two years. These loans represent only 5% of the total portfolio, with a relatively low weighted-average servicing fee of 19.7 basis points.
- The increase in the overall weighted-average servicing fee was primarily due to an increase in Fannie Mae loans as a percentage of the overall servicing portfolio year over year.
- The mortgage servicing rights ("MSRs") associated with our servicing portfolio had a fair value of $1.3 billion as of June 30, 2022, compared to $1.2 billion as of June 30, 2021. We added net MSRs from originations of $2.2 million in the second quarter of 2022 and $63.2 million over the past 12 months.
- Assets under management ("AUM") as of June 30, 2022 consisted of $14.5 billion of Affordable funds, $1.3 billion of commercial real estate loans and funds, and $0.9 billion of loans in our interim lending joint venture. The year-over-year increase in AUM is driven by the acquisition of Alliant in the fourth quarter of 2021 that added $14.3 billion of Affordable assets under management upon closing.
Discussion of Results:
- The decrease in Walker & Dunlop net income was a result of a 1% decrease in income from operations and a 7% increase in income tax expense. Although we increased our revenues by 21%, expenses increased 29% due primarily to the direct and indirect costs from the acquisitions we have made over the past year. Income tax expense increased primarily due to (i) an increased estimated annual effective tax rate largely from increased executive compensation and (ii) a reduction in realizable excess tax benefits due to a lower number of stock option exercises.
- The increase in adjusted EBITDA was a result of higher servicing fees, property sales broker fees, and fees earned from assets under management. These increases were offset by increased commission costs from the 67% growth in total transaction volumes and increases in other operating expenses.
- Operating margin decreased due to the aforementioned decrease in income from operations, despite an increase in total revenues.
- Return on equity declined due to a 26% increase in stockholders' equity over the past year combined with the decrease in net income.
- Other operating expenses as a percentage of total revenues increased due to our overall growth in the past year which included additional expenses from acquired subsidiaries and increases in travel and entertainment costs year over year as those costs have resumed to pre-pandemic levels in 2022.
Discussion of Results:
- Our at-risk servicing portfolio, which is comprised of loans subject to a defined risk-sharing formula, increased due to the significant level of Fannie Mae loans added to the portfolio during the past 12 months. As of June 30, 2022, there were two defaulted loans that were provisioned for in 2019 and one loan that was provisioned for in 2021. The two properties that defaulted in 2019 have been foreclosed on and final settlement of any losses will occur in the future upon disposition of the assets by Fannie Mae. The at-risk servicing portfolio continues to exhibit strong credit quality, with very low levels of delinquencies and strong operating performance of the underlying properties in the portfolio.
- The on-balance sheet interim loan portfolio, which is comprised of loans for which we have full risk of loss, was $252.1 million at June 30, 2022 compared to $276.7 million at June 30, 2021. There was one defaulted loan in our interim loan portfolio at June 30, 2022, which was provisioned for in the third quarter of 2020. All other loans in the on-balance sheet interim loan portfolio are current and performing as of June 30, 2022. The interim loan joint venture holds $0.9 billion of loans as of June 30, 2022, compared to $0.6 billion as of June 30, 2021. We share in a small portion of the risk of loss, and as of June 30, 2022, all loans in the interim loan joint venture are current and performing.
SECOND QUARTER 2022 - FINANCIAL RESULTS BY SEGMENT
Capital Markets - Discussion of Quarterly Results:
The Capital Markets segment includes our Agency lending, debt brokerage, property sales, and appraisal and valuation services.
- The decrease in loan origination fees and debt brokerage fees, net ("origination fees") was the result of the decrease in our origination fee margin, partially offset by the increase in overall debt financing volume. The decline in the origination fee margin was largely due to the significant decline in HUD debt financing volume and the $1.9 billion Fannie Mae portfolio, which comprised just under 50% of our Fannie Mae debt financing volume for the quarter. Large portfolios such as the $1.9 billion Fannie Mae portfolio typically have lower origination fee margins, while HUD loans are our most profitable loan product.
- The decrease in MSR income is attributable to the decrease in our MSR and Agency MSR margins, partially offset by the increase in overall debt financing volume. The decline the Agency MSR margin was primarily related to the $1.9 billion Fannie Mae portfolio, which had a lower servicing fee that is typical for large portfolios. The decrease in the MSR margin was the result of the decrease in the Agency MSR margin, coupled with an increase in our brokered debt financing volume as a percentage of overall debt financing volume.
- The increase in property sales broker fees was driven by the 136% increase in property sales volume year over year, partially offset by a decrease in the property sales broker fee margin.
- Personnel expense increased primarily as a result of (i) an increase in commissions expense due to the increase in property sales broker fees, partially offset by a decrease in origination fees; and (ii) an increase of $7.0 million in salaries and benefits costs due to (1) strategic acquisitions and hiring initiatives that contributed to an increase in our average bankers and brokers year over year. and (2) consolidating Apprise after our acquisition of GeoPhy, partially offset by a decrease in the accrual for subjective bonuses. The operating results for the second quarter of 2022 include compensation costs for Apprise, while the operating results for second quarter of 2021 do not as we accounted for our investment in Apprise under the equity method in 2021.
Servicing & Asset Management - Discussion of Quarterly Results:
The Servicing & Asset Management segment includes loan servicing, principal lending and investing, managing third-party capital invested in tax credit equity funds focused on the affordable housing sector and other commercial real estate, and real estate-related investment banking and advisory services, including housing market research.
- The $6.7 billion net increase in the servicing portfolio over the past 12 months was the principal driver of the growth in servicing fees year over year, combined with the increase in the servicing portfolio's weighted-average servicing fee.
- Escrow earnings and other interest income increased as a result of higher escrow earnings due to higher short-term interest rates, partially offset by a slightly lower average escrow balance.
- Other revenues and investment management fees increased principally due to the additions of fee income from Alliant and Zelman, with no comparable activity in the prior year as these acquisitions occurred in the second half of 2021.
- Personnel expense increased year over year as principally a result of the acquisitions of Alliant and Zelman.
- Amortization and depreciation increased as a result of the growth in the average balance of MSRs outstanding year over year and an increase in prepayment activity. Additionally, we had a $3.4 million increase in amortization of intangible assets from our strategic acquisitions in 2021.
- The increase in other operating expenses was largely attributable to increases in office and other professional fees to support the continued growth in our operations as a result of recent acquisitions.
Corporate - Discussion of Quarterly Results:
- Personnel expense decreased primarily due to a decrease in performance based variable compensation that is partially offset by increases in salaries and benefits due to the growth in our average headcount to support our growth and acquisitions.
- In the fourth quarter of 2021, we refinanced our senior secured term loan and increased the principal balance from $292 million to $600 million. The term loan carries an interest rate of SOFR plus a 10-basis point credit spread adjustment (with a floor of 50 basis points) plus a 225 basis point spread, leading to additional interest expense in the second quarter of 2022 compared to the same period last year. In addition to the debt refinancing, we incurred additional interest expense related to a fixed-rate note payable assumed in the acquisition of Alliant in the fourth quarter of 2021.
- Other operating expenses increased in the second quarter primarily due to: (i) an increase in legal and other professional fees and office expenses related to our recent acquisitions and overall growth; and (ii) an increase in travel and entertainment expenses, which were still impacted by the effects of the pandemic in the second quarter of 2021.
CONSOLIDATED YEAR-TO-DATE 2022 OPERATING RESULTS
Discussion of Results:
- The increase in total transaction volume was primarily driven by a 72% increase in Fannie Mae debt financing volume, a 41% increase in brokered debt financing volume, and a 141% increase in property sales volume, partially offset by a 54% decline in HUD debt financing volume.
- The increase in Walker & Dunlop net income was primarily a result of an 11% increase in income from operations.
- The increase in adjusted EBITDA was largely driven by an increase in cash revenues from increased transaction volume and revenues from Alliant and Zelman, with no comparable revenue in the prior year, partially offset by increases in personnel expenses and other operating expenses from those aforementioned acquisitions.
- Operating margin declined principally due to higher variable compensation costs resulting from the 56% growth in total transaction volume over the past year.
- Return on equity declined due to a 26% increase in stockholders' equity over the past year, partially offset by the increase in net income.
YEAR-TO-DATE 2022 - FINANCIAL RESULTS BY SEGMENT
Capital Markets - Discussion of Year-to-Date Results:
- The decrease in MSR income was primarily related to the decrease in the percentage of Agency debt financing volume year over year. Agency debt financing volume decreased from 38% in 2021 to 36% in 2022. Additionally, the profitability of our debt financing volume declined.
- The increase in property sales broker fees was driven by the 141% increase in property sales volume year over year, partially offset by a decline in the property sales broker fee margin.
- Personnel expense increased primarily as a result of (i) an increase in commissions expense due to the increases in origination fees and property sales broker fees; (ii) an increase in salaries and benefits costs due to strategic acquisitions and hiring initiatives that contributed to an increase in total bankers and brokers year over year; and (iii) an increase in total compensation costs as a result of consolidating Apprise after our acquisition of GeoPhy. The operating results for the year-to-date period in 2022 include compensation costs for Apprise, while the operating results for the same period in 2021 do not as we accounted for our investment in Apprise under the equity method in the prior year.
- The increase in other operating expenses was largely attributable to increases in travel and entertainment, which are attributable to our overall growth over the past year and low costs in this area in the first half of 2021 due to the pandemic.
Servicing & Asset Management - Discussion of Year-to-Date Results:
- The $6.7 billion net increase in the servicing portfolio over the past 12 months was the principal driver of the growth in servicing fees year over year, combined with an increase in the servicing portfolio's weighted-average servicing fee.
- Escrow earnings and other interest income increased as a result of higher escrow earnings due to higher short-term interest rates.
- Other revenues and investment management fees increased principally due to the additions of income from Alliant and Zelman, with no comparable activity in the prior year as these acquisitions occurred in the second half of 2021.
- Personnel expense increased substantially year over year as a result of increased compensation costs due to our acquisitions and hiring initiatives.
- Amortization and depreciation increased as a result of the growth in the average balance of MSRs outstanding year over year and an increase in prepayment activity. Additionally, we had a $6.8 million increase in amortization of intangible assets from our strategic acquisitions in 2021.
- The increase in other operating expenses was largely attributable to increases in office expenses and other professional fees to support the continued growth in our operations.
Corporate - Discussion of Year-to-Date Results:
- As part of the GeoPhy acquisition, we acquired the other 50% ownership interest in Apprise. The revaluation of our existing 50% ownership interest in Apprise resulted in a $39.6 million increase in other revenues. The remaining increase principally relates to income from our other equity method investments.
- Personnel expense increased primarily as a result of (i) increased salaries and benefits costs due to an increase in the average headcount year over year; and (ii) an increase in stock-based compensation expense associated with our performance share plans due to our financial performance and increased headcount, partially offset by a decrease in compensation expense related to the Company's deferred compensation plan due to declines in the fair value of the assets held by participants in the plan.
- Interest expense on corporate debt increased due to the increase in the principal balance of our debt outstanding in the fourth quarter of 2021 and the assumption of Alliant's note payable following the acquisition in the fourth quarter of 2021.
- Other operating expenses increased due to: (i) an increase in legal and other professional fees and office expenses related to our recent acquisitions and overall growth, (ii) an increase in travel and entertainment expenses, which were still impacted by the effects of the pandemic in the first half of 2021, and (iii) rent-related costs due to the lease for our new headquarters.
CAPITAL SOURCES AND USES
On August 3, 2022, the Company's Board of Directors declared a dividend of $0.60 per share for the third quarter of 2022. The dividend will be paid on September 2, 2022 to all holders of record of the Company's restricted and unrestricted common stock as of August 18, 2022.
On February 2, 2022, our Board of Directors authorized the repurchase of up to $75.0 million of the Company's outstanding common stock over the coming one-year period ("2022 Share Repurchase Program"). During the first quarter of 2022, the Company did not repurchase any shares of its common stock under the 2022 Share Repurchase Program. During the second quarter of 2022, the Company repurchased 0.1 million shares of its common stock under the share repurchase program at a weighted average price of $101.77 per share and immediately retired the shares, reducing stockholders' equity by $11.1 million. As of June 30, 2022, the Company had $63.9 million of authorized share repurchase capacity remaining under the 2022 Share Repurchase Program.
Any future purchases made pursuant to the 2022 Share Repurchase Program will be made in the open market or in privately negotiated transactions from time to time as permitted by federal securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The repurchase program may be suspended or discontinued at any time.
CONFERENCE CALL INFORMATION
The Company will host a conference call to discuss its quarterly results on Thursday, August 4, 2022 at 8:30 a.m. Eastern time. Listeners can access the webcast via the link: https://walkerdunlop.zoom.us/webinar/register/WN_3KzScGmYQ1eHcJbaPOUnDg or by dialing +1 408 901 0584, Webinar ID 844 4342 0334, Password 270631. Presentation materials related to the conference call will be posted to the Investor Relations section of the Company's website prior to the call. An audio replay will also be available on the Investor Relations section of the Company's website, along with the presentation materials.
ABOUT WALKER & DUNLOP
Walker & Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry in the United States, enabling real estate owners and operators to bring their visions of communities — where people live, work, shop and play — to life. Our people, brand, and technology make W&D one of the most insightful and customer-focused firms in our industry. With more than 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
NON-GAAP FINANCIAL MEASURES
To supplement our financial statements presented in accordance with United States generally accepted accounting principles ("GAAP"), the Company uses adjusted EBITDA, a non-GAAP financial measure. The presentation of adjusted EBITDA is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. When analyzing our operating performance, readers should use adjusted EBITDA in addition to, and not as an alternative for, net income. Adjusted EBITDA represents net income before income taxes, interest expense on our term loan facility and Alliant's note payable, and amortization and depreciation, adjusted for provision (benefit) for credit losses net of write-offs, stock-based incentive compensation charges, the fair value of expected net cash flows from servicing, net, and non-cash charges associated with the extinguishment of long-term debt, and the gain associated with the revaluation of our previously held equity-method investment in connection with our acquisition of GeoPhy. Because not all companies use identical calculations, our presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies. Furthermore, adjusted EBITDA is not intended to be a measure of free cash flow for our management's discretionary use, as it does not reflect certain cash requirements such as tax and debt service payments. The amounts shown for adjusted EBITDA may also differ from the amounts calculated under similarly titled definitions in our debt instruments, which are further adjusted to reflect certain other cash and non-cash charges that are used to determine compliance with financial covenants.
We use adjusted EBITDA to evaluate the operating performance of our business, for comparison with forecasts and strategic plans and for benchmarking performance externally against competitors. We believe that this non-GAAP measure, when read in conjunction with the Company's GAAP financials, provides useful information to investors by offering:
- the ability to make more meaningful period-to-period comparisons of the Company's on-going operating results;
- the ability to better identify trends in the Company's underlying business and perform related trend analyses; and
- a better understanding of how management plans and measures the Company's underlying business.
We believe that adjusted EBITDA has limitations in that it does not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP and that adjusted EBITDA should only be used to evaluate the Company's results of operations in conjunction with net income on both a consolidated and segment basis. For more information on adjusted EBITDA, refer to the section of this press release below titled "Adjusted Financial Measure Reconciliation to GAAP" and "Adjusted Financial Measure Reconciliation to GAAP By Segment."
FORWARD-LOOKING STATEMENTS
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, or intentions.
The forward-looking statements contained in this press release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed or contemplated in any forward-looking statement.
While forward-looking statements reflect our good faith projections, assumptions and expectations, they are not guarantees of future results. Furthermore, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law. Factors that could cause our results to differ materially include, but are not limited to: (1) general economic conditions and multifamily and commercial real estate market conditions, (2) regulatory and/or legislative changes to Freddie Mac, Fannie Mae or HUD, (3) our ability to retain and attract loan originators and other professionals, (4) risks related to our recently completed acquisitions, including our ability to integrate and achieve the expected benefits of such acquisitions, and (5) changes in federal government fiscal and monetary policies, including any constraints or cuts in federal funds allocated to HUD for loan originations.
For a further discussion of these and other factors that could cause future results to differ materially from those expressed or contemplated in any forward-looking statements, see the section titled "Risk Factors" in our most recent Annual Report on Form 10-K and any updates or supplements in subsequent Quarterly Reports on Form 10-Q and our other filings with the SEC. Such filings are available publicly on our Investor Relations web page at www.walkerdunlop.com.
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SOURCE Walker & Dunlop, Inc. | https://www.newschannel10.com/prnewswire/2022/08/04/walker-amp-dunlop-reports-67-growth-transaction-volume-revenue-grows-21-341-million/ | 2022-08-04T10:43:11Z | https://www.newschannel10.com/prnewswire/2022/08/04/walker-amp-dunlop-reports-67-growth-transaction-volume-revenue-grows-21-341-million/ | true | 11 |
The News-Herald is providing live updates for the Aug. 2 primary election. We will be updating the spreadsheet below for every local election. Only contested races are included. Some races have declared winners, while others were winnowed down for the Nov. 8 general election. Candidates moving on are boldfaced. Be sure to refresh your screen for the latest results as they’re posted live. | https://www.thenewsherald.com/2022/08/03/aug-2-primary-election-results-from-around-downriver/ | 2022-08-04T10:44:12Z | https://www.thenewsherald.com/2022/08/03/aug-2-primary-election-results-from-around-downriver/ | true | null |
The fans of Nandamuri Balakrishna are eagerly waiting for his 107th film. The teaser of the film was released on the actor’s birthday and it received a good response. The fans and supporters are now waiting for new updates on the film. And if reports are anything to go by, the makers of NBK 107 are expected to share a big update on the occasion of Raksha Bandhan, which is on August 11.
Gopichand Malineni is directing Nandamuri Balakrishna’s 107th film. The shooting of the film is currently underway near a railway station in the Jogulamba Gadwal district of Telangana and fans flooded the location to click NBK’s pictures.
The Police force made all the necessary arrangements so that the shooting of the film was not hampered by the mass gathering. In the viral photos, Nandamuri Balakrishna was seen wearing a white Indian outfit with a temple stole.
In the film, Shruti Haasan and Varalaxmi Sarathkumar will be seen playing the female lead. While Shruti will be seen opposite Nandamuri Balakrishna, Varalaxmi is reportedly playing the role of a villain in the film. Kannada actor Duniya Vijay is playing the role of a villain, who confronts Nandamuri Balakrishna in the movie.
In NBK 107, Nandamuri Balakrishna will reportedly play the role of a police officer. In the film, Balayya will be seen in a dual role — one of a police officer and another of a saint. It is reported that the story of the film is based on real-life stories.
NBK 107 is expected to release in December this year. However, they may also release the film in January 2023 on the occasion of Makar Sankranti.
Read all the Latest News and Breaking News here | https://www.news18.com/news/movies/makers-of-nandamuri-balakrishnas-107th-film-to-share-massive-update-on-raksha-bandhan-5687041.html | 2022-08-04T10:46:56Z | https://www.news18.com/news/movies/makers-of-nandamuri-balakrishnas-107th-film-to-share-massive-update-on-raksha-bandhan-5687041.html | false | 2 |
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KYIV, Ukraine (AP) — Powerful explosions rattled the southern Ukrainian city of Mykolaiv on Thursday and a city close to the country’s biggest nuclear power plant sustained a barrage of shelling amid Russian attacks in several regions, Ukraine’s presidential office said.
At least four civilians were killed and 10 more wounded over the past 24 hours, with nine Ukrainian regions coming under fire, the office said in its daily update.
Two districts of Mykolaiv, which has been targeted frequently in recent weeks, were shelled.
Russian forces reportedly fired 60 rockets at Nikopol, in the central Dnipropetrovsk region. Some 50 residential buildings were damaged in the city of 107,000 and some projectiles hit power lines, leaving city residents without electricity, according to Ukrainian authorities.
Nikopol is located across the Dnieper river from the Zaporizhzhia nuclear power plant, which was taken over by Russian troops early in the war.
Experts at the U.S.-based Institute for the Study of War believe that Russia is shelling the area intentionally, “putting Ukraine in a difficult position.”
“Either Ukraine returns fire, risking international condemnation and a nuclear incident (which Ukrainian forces are unlikely to do), or Ukrainian forces allow Russian forces to continue firing on Ukrainian positions from an effective ‘safe zone,’” the Institute’s latest report said.
The head of the U.N. nuclear watchdog agency earlier this week voiced alarm over the situation at the Zaporizhzhia plant.
In northern Ukraine, the country’s second-largest city, Kharkiv, was being shelled from Russia, the presidential office said. Several industrial facilities were hit in the city, which also has been a frequent target. In the nearby city of Chuhuiv, a rocket hit a five-story residential building.
In the eastern Donetsk region, where fighting has been focused in recent weeks, residential buildings were being shelled in all large cities and a school was destroyed in the village of Ocheretyne. The region is struggling without gas supplies and, in part, without power and water supplies; its residents are being evacuated.
Russia-backed separatist authorities in the city of Donetsk said that two people were killed and three others wounded in Ukrainian shelling of the central part of the city on Thursday.
Russian forces have already seized the neighboring Luhansk region. Its Ukrainian governor, Serhiy Haidai, said on social media that local residents are being mobilized to fight against Kyiv’s forces and that “even indispensable mine workers are being taken.”
Ukrainian authorities reported another abduction of a mayor who reportedly refused to collaborate with the Russians in the southern Kherson region, which is also almost entirely occupied.
The reported kidnapping of Serhiy Lyakhno, the mayor of the village of Hornostaivka, comes as Russia amasses more troops in the area in anticipation of a counteroffensive by Kyiv and ahead of a planned referendum on the region becoming part of Russia.
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Follow AP’s coverage of the Russia-Ukraine war at https://apnews.com/hub/russia-ukraine | https://www.huffpost.com/entry/ukrainian-cities-shelled-including-one-near-nuclear-plant_n_62eb961de4b09d09a2c12f16 | 2022-08-04T10:48:50Z | https://www.huffpost.com/entry/ukrainian-cities-shelled-including-one-near-nuclear-plant_n_62eb961de4b09d09a2c12f16 | false | 42 |
Co-writing has been a topic of contention for decades in the music business. The debate has risen its head once more following the release of Beyoncé’s new album, Renaissance, which features the track ‘Alien Superstar’ — a song credited to 24 songwriters.
Legendary songwriter Diane Warren, who always chooses to write alone and has penned hits such as Cher’s ‘If I Could Turn Back Time’, and Aerosmith’s ‘I Don’t Wanna Miss A Thing’, was dumbfounded by the number, and tweeted, “How can there be 24 writers on a song?” Although Warren quickly backed down after facing the wrath of the Bey Hive, it is a question worth exploring.
While 24 songwriters writing on one song seems impossible to comprehend, three songs are sampled on ‘Alien Superstar’; therefore, all of the original writers are credited. Yet, that is only responsible for seven of the 24 names credited.
Beyoncé has always adopted a collaborative approach to the creative process, and 2016’s Lemonade saw her enlist 72 songwriters. Purists take umbrage with this method and believe songwriting should be dealt with in-house, but is that just an old-school mindset or do they genuinely have a valid point?
Using co-writers is commonplace across the musical spectrum, and even artists like Phoebe Bridgers have frequent collaborators with who they work alongside. It must be said, Bridgers working with the help of two or three trusted friends is a stark contrast to crediting 24 people on one song and highlights why it’s not helpful to tarnish everybody who works with co-writers with the same brush.
There’s no difference between working with some fellow songwriters as there is writing with bandmates, but it isn’t viewed that way. As long as it’s a collaborative process, there shouldn’t be an issue with musicians using co-writers, but when that number spirals into double figures, how much of an artist’s personality can be stamped on the song?
Noel Gallagher firmly believes that artists using co-writers is a sacrilege. In 2015, he told Shortlist: “I’ve heard it said, in interviews, by these characters who use songwriters that, ‘Well, you need help to write songs.’ And what I would say to people like that is, ‘Well, if you need help to write songs, join a fucking band.’ Right? That’s why music is dying.”
He added: “I remember when Jake (Bugg) came on tour with me, it was great, and he was like ‘The Great White Hope’, to coin a phrase. He gave me his album backstage, middle of Europe. I was flicking through it and was like, ‘Who’s this other fucking guy in the credits?’ I was heartbroken in a way, fucking heartbroken.”
The job of the co-writer is to assist the artist’s vision and help it come to life, which will undoubtedly be the case with Beyoncé, who will have the final say on the creations. It’s a different question when it’s newer artists who have less authority, and the co-writers aren’t friends but people that their label has brought in.
In the current UK Singles Chart, it’s only Central Cee’s ‘Doja’ and Kate Bush’s ‘Running Up That Hill’, which don’t feature co-writers. It’s an accepted part of pop music and has been for decades. As long as an artist is honest about their songwriting methods, it shouldn’t be an issue.
If somebody uses professional songwriters to create a faux persona to hide behind, then their artistic integrity should be scrutinised. Furthermore, if a musician positions themselves as a singer-songwriter who writes from the heart and then credits 24 songwriters on one song, that would be inauthentic, but Beyoncé has never claimed to be that person. | https://faroutmagazine.co.uk/the-big-topic-anything-wrong-artists-cowriters/ | 2022-08-04T10:51:46Z | https://faroutmagazine.co.uk/the-big-topic-anything-wrong-artists-cowriters/ | false | 1 |
NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Teladoc Health, Inc. ("Teladoc" or the "Company") (NYSE: TDOC) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Teladoc investors who were adversely affected by alleged securities fraud between October 28, 2021 and April 27, 2022. Follow the link below to get more information and be contacted by a member of our team:
TDOC investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) increased competition, among other factors, was negatively impacting Teladoc's BetterHelp and chronic care businesses; (ii) accordingly, the growth of those businesses was less sustainable than Defendants had led investors to believe; (iii) as a result, Teladoc's revenue and adjusted EBITDA projections for FY 2022 were unrealistic; (iv) as a result of all the foregoing, Teladoc would be forced to recognize a significant non-cash goodwill impairment charge; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Teladoc during the relevant time frame, you have until August 5, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP | https://www.live5news.com/prnewswire/2022/08/04/tdoc-lawsuit-alert-levi-amp-korsinsky-notifies-teladoc-health-inc-investors-class-action-lawsuit-upcoming-deadline/ | 2022-08-04T10:52:37Z | https://www.live5news.com/prnewswire/2022/08/04/tdoc-lawsuit-alert-levi-amp-korsinsky-notifies-teladoc-health-inc-investors-class-action-lawsuit-upcoming-deadline/ | true | 20527 |
Trey Lance is the ultimate NFL QB 'gamble' – with a potential Super Bowl payoff for 49ers
The 49ers are willing to endure growing pains and embrace risk in handing the reins over to quarterback Trey Lance, the No. 3 overall pick in the 2021 draft.
Mike Jones
USA TODAY
SANTA CLARA, Calif. – The look in Trey Lance’s eyes during one of the most pressure-packed situations of the young quarterback’s entire athletic career told Kyle Shanahan everything he needed to know.
The rookie’s second NFL start – a must-win Week 17 contest against visiting Houston – had not begun well. On the surface, the third overall pick of the draft, who was thrust into action due to starter Jimmy Garoppolo's thumb injury, appeared overmatched as San Francisco’s first five possessions ended with three punts, a turnover on downs and an interception. But Lance’s coach saw something he liked. | https://www.usatoday.com/story/sports/nfl/columnist/mike-jones/2022/08/04/trey-lance-san-francisco-niners-quarterback-kyle-shanahan/10211352002/?gnt-cfr=1 | 2022-08-04T10:53:23Z | https://www.usatoday.com/story/sports/nfl/columnist/mike-jones/2022/08/04/trey-lance-san-francisco-niners-quarterback-kyle-shanahan/10211352002/?gnt-cfr=1 | true | 1 |
NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Yext, Inc. ("Yext" or the "Company") (NYSE: YEXT) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Yext investors who were adversely affected by alleged securities fraud between March 4, 2021 and March 8, 2022. Follow the link below to get more information and be contacted by a member of our team:
YEXT investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Yext's revenue and earnings were significantly deteriorating because of, among other things, poor sales execution and performance, as well as COVID-19 related disruptions; (ii) accordingly, Yext was unlikely to meet consensus estimates for its full year fiscal 2022 financial results and fiscal 2023 outlook; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Yext during the relevant time frame, you have until August 16, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP | https://www.wdtv.com/prnewswire/2022/08/04/yext-lawsuit-alert-levi-amp-korsinsky-notifies-yext-inc-investors-class-action-lawsuit-upcoming-deadline/ | 2022-08-04T10:59:43Z | https://www.wdtv.com/prnewswire/2022/08/04/yext-lawsuit-alert-levi-amp-korsinsky-notifies-yext-inc-investors-class-action-lawsuit-upcoming-deadline/ | true | 20527 |
CA Marine Warnings and Forecast for Thursday, August 4, 2022
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SMALL CRAFT ADVISORY
URGENT - MARINE WEATHER MESSAGE
National Weather Service Los Angeles/Oxnard CA
312 AM PDT Thu Aug 4 2022
...SMALL CRAFT ADVISORY HAS EXPIRED...
Conditions have diminished below advisory levels.
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Copyright 2022 AccuWeather | https://www.darientimes.com/weather/article/CA-Marine-Warning-and-Forecast-17350578.php | 2022-08-04T11:05:40Z | https://www.darientimes.com/weather/article/CA-Marine-Warning-and-Forecast-17350578.php | true | null |
Southampton unveil RAF-inspired third kit
- Published
With two days until Southampton begin their Premier League campaign, the club have unveiled their new third kit.
The green and black shirt pays homage to the city's rich aviation history and its connections to the Royal Air Force.
Both sleeves feature yellow, white, red and blue stipes, taking inspiration from the RAF roundel.
Saints director of marketing and partnerships Sarah Batters told the club website: "With this shirt, we wanted to give a nod to our city’s connections to the RAF. Working with Hummel has allowed us to be creative and celebrate that in the design of the shirt."
Skip twitter postThe BBC is not responsible for the content of external sites.
Completing the set ✅ pic.twitter.com/zpwbgKk03E
— Southampton FC (@SouthamptonFC) August 4, 2022
End of twitter post | https://www.bbc.com/sport/articles/c6pqw4935dgo | 2022-08-04T11:06:53Z | https://www.bbc.com/sport/articles/c6pqw4935dgo | true | null |
Messi, the incredible twist!
Despite a difficult first season in Paris, Lionel Messi could extend his lease with PSG until June 2024. In any case, this would be the wish of the Ile-de-France leaders.
The adage that in football everything goes very quickly could well be true once again… Landed free at Paris last summer, Lionel Messi completely missed his first season in the French capital. Between his problems adapting to his new Parisian life, injuries and the Covid, the Argentinian icon has never managed to give all the fullness of his talent.
So much so that a departure from the sevenfold Ballon d’Or, just one year after his arrival, was mentioned in the press for a time. But in the end it would not be the case, quite the contrary… According to the information collected by brandPSG would seriously consider offering a one-year contract extension to the former Barcelonan, who is currently linked to the Parisian club until June 2023.
🚨 | the #PSG wants to extend Leo Messi 🇦🇷’s contract until 2024 ‼️
📰 📲 Marca pic.twitter.com/fQpkFoRVIj
— Canal Supporters (@CanalSupporters) July 13, 2022
Messi prefers to stall
The decision makers of the residents of the Parc des Princes have even already announced their intention to Lionel Messi. But the latter would not have given his answer for the moment, believing that it is still too early to make such a decision. This should, a priori, take place after the World Cup in Qatar. The Madrid media also specifies that, contrary to the rumor which may have circulated, no option for an additional year was negotiated when he signed his lease last August.
The staff of Paris Saint-Germain would be persuaded to find the best version of Messi next season, once he has fully adapted to his new environment. In addition, PSG had never generated so much revenue in a year – around 700 million – since the arrival of the Argentine legend. One more reason to keep it for another year.
Read also:Messi is clashed by a Nupes deputyMessi back at Barça, it’s validatedMessi, the thunderclap! | https://d1softballnews.com/messi-the-incredible-twist/ | 2022-08-04T11:07:00Z | https://d1softballnews.com/messi-the-incredible-twist/ | false | 1 |
ATLANTA (AP) _ WestRock Co. (WRK) on Thursday reported fiscal third-quarter earnings of $377.9 million.
The Atlanta-based company said it had profit of $1.47 per share. Earnings, adjusted for non-recurring costs, came to $1.54 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The paper and packaging company posted revenue of $5.52 billion in the period, which matched Street forecasts.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WRK at https://www.zacks.com/ap/WRK | https://www.stamfordadvocate.com/business/article/WestRock-Fiscal-Q3-Earnings-Snapshot-17350648.php | 2022-08-04T11:08:37Z | https://www.stamfordadvocate.com/business/article/WestRock-Fiscal-Q3-Earnings-Snapshot-17350648.php | true | null |
REC sanctions Rs 22,000 cr to discoms under LPS rules
REC Ltd, under the Power Ministry, is a non-banking finance financial company NBFC, focusing on power sector financing and development across India. It provides financial assistance to state electricity boards, state governments, centralstate power utilities, independent power producers, rural electric cooperatives and private sector utilities.
- Country:
- India
State-owned NBFC REC Ltd on Thursday said it has sanctioned Rs 22,000 crore to power distribution companies (discoms) to clear their outstanding dues.
The financial assistance has been provided to the discoms of Jharkhand, Rajasthan, Chhattisgarh, and Jammu & Kashmir under the government's Late Payment Surcharge and Related Matters Rules 2022 (LPS rules).
The Ministry of Power had brought in electricity LPS rules 2022 to address mounting dues of the state power utilities, which have now crossed Rs 1,50,000 crore, REC Ltd, erstwhile Rural Electrification Corporation Limited, said in a statement.
''Under new LPS Rules...REC has provided financial assistance of approximately Rs 22,000 crore on 3rd August 2022 for clearing the outstanding dues by the distribution licensees of Jharkhand, Rajasthan, Chhattisgarh, and Jammu & Kashmir,'' it said.
Major states -- such as Rajasthan, Jharkhand, Tamil Nadu, Maharashtra, J&K, Madhya Pradesh, and Uttar Pradesh -- with pending power purchase dues to the tune of almost Rs 96,000 crore are complying with the rules.
In line with the same, the distribution licensees of the above states will be paying around Rs 2,600 crore to their electricity suppliers on August 5, 2022.
According to REC, the new rules will be applied to outstanding dues of generating companies, inter-state transmission licensees, and electricity trading licensees (suppliers).
As per the rules, the total outstanding dues, including late payment surcharge, by a distribution licensee may be cleared in a maximum of 48 equated monthly installments (EMIs). REC Ltd, under the Power Ministry, is a non-banking finance financial company (NBFC), focusing on power sector financing and development across India. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives, and private sector utilities.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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18 million dishes served with Kikkoman in the first year alone, Indians taste the magic of Kikkoman Soy Sauce | https://www.devdiscourse.com/article/headlines/2133259-rec-sanctions-rs-22000-cr-to-discoms-under-lps-rules | 2022-08-04T11:08:43Z | https://www.devdiscourse.com/article/headlines/2133259-rec-sanctions-rs-22000-cr-to-discoms-under-lps-rules | false | 1 |
TORONTO (AP) _ Restaurant Brands International (QSR) on Thursday reported second-quarter earnings of $236 million.
On a per-share basis, the Toronto-based company said it had net income of 76 cents. Earnings, adjusted for non-recurring costs, came to 82 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The operator of Burger King and Tim Hortons restaurant chains posted revenue of $1.64 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $1.57 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QSR at https://www.zacks.com/ap/QSR | https://www.middletownpress.com/business/article/Restaurant-Brands-Q2-Earnings-Snapshot-17350665.php | 2022-08-04T11:12:01Z | https://www.middletownpress.com/business/article/Restaurant-Brands-Q2-Earnings-Snapshot-17350665.php | true | null |
Pearson+ Channels adds thousands of videos and practice questions to the company's leading library of 1,500 eTextbooks
HOBOKEN, N.J., Aug. 4, 2022 /PRNewswire/ -- Pearson+, today released Channels, its curated library feature of more than 10,000 short-form videos, produced, picked, and organized by experts into 16-course areas with an emphasis on science, math, and business—difficult subjects where millions of students seek video tutoring.
With Channels, Pearson pairs its eTextbook library with guided video tutorials, original practice questions, and other learning videos vetted and curated by Pearson experts on the same platform, so students don't have to search the web looking for supplemental learning help.
Thousands of the videos feature Pearson tutors, who recently joined the company as a part of the acquisition of Clutch Prep. These tutors guide students through their course, topic-by-topic with practice questions to simplify difficult concepts. Students are also able to interact with each other and their tutors by posting comments, asking questions, and getting feedback.
For this early release, Channels is available to all college students for free, even if they aren't using a Pearson textbook.
"Until now, Pearson+ was designed for students who were assigned a Pearson textbook. Now, with the addition of the Channels feature, Pearson+ is set to become a great learning tool for any college student who wants extra study help," stated Andy Bird, Pearson CEO. "Adding curated video tutorials on Pearson+ delivers on our promise to bring vibrant learning experiences to even more people. With Channels, we're excited to reach many more students with our engaging content in the upcoming school year."
As more students use Pearson+, Pearson is learning and adapting the product to fit how students prefer to study. High engagement with the audio, notetaking, and flash card features support Pearson's move to prioritize interactive study tools that allow for more flexible learning. Pearson+ gives students the ability to read online or offline, listen, or watch to support however they choose to learn concepts and pass exams.
This fall, Pearson+ subscribers will also have access to discounts for college lifestyle brands including Dormify and Contiki Tours. These partnerships add value to the Pearson+ subscription and will help students save money on their interests that are outside of the classroom.
Pearson+ has had a successful first year since launching in August 2021. Registered users now stand at 4.5 million for the academic year, with 329,000 paid subscriptions.
More info about Pearson+ features, including Channels can be found here.
Visit www.pearson.com/channels to enter the Pearson+ Channels experience.
At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That's why our c.20,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world's leading learning company, serving customers in nearly 200 countries with digital content, assessments, qualifications, and data. For us, learning isn't just what we do. It's who we are. Visit us pearsonplc.com.
Contact
Joe Wiggins, Joe.wiggins@pearson.com
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SOURCE Pearson | https://www.wabi.tv/prnewswire/2022/08/04/pearson-releases-curated-video-amp-practice-feature-enhance-learning-experiences-all-college-students/ | 2022-08-04T11:15:33Z | https://www.wabi.tv/prnewswire/2022/08/04/pearson-releases-curated-video-amp-practice-feature-enhance-learning-experiences-all-college-students/ | false | 11 |
Thursday Aug 04, 2022
Johnny Depp and Amber Heard’s sensational legal battle made headlines all over the world. The trial, in which the involved attorneys were turned into internet sensations, also brought death threats to other witnesses.
While more than 6,000 previously sealed documents in the case were made public last week, it has been revealed that the Department of Homeland Security launched an investigation into death threats sent to the psychologist, Dr. Dawn Hughes - who testified on behalf of Heard in the trial.
According to the RadarOnline report, the Aquaman actress called clinical and forensic psychologist Dr. Hughes to the stand to testify as her expert witness. She revealed that Heard suffered from Post-Traumatic Stress Disorder from the alleged violence by Depp.
In the unsealed motion, Heard revealed, “After Dawn Hughes testified, she received multiple death threats in emails and voicemails. Cybersecurity agents for the Department of Homeland Security are investigating these threats.”
Heard further added that Hughes wasn’t the only one who was being threatened. She said her counsel’s law firm had been “flooded with numerous false negative reviews, resulting in the filing of an abuse report by Google.” | https://www.geo.tv/latest/431704-amber-heards-psychologist-receives-death-threats-post-defamation-trial | 2022-08-04T11:15:33Z | https://www.geo.tv/latest/431704-amber-heards-psychologist-receives-death-threats-post-defamation-trial | true | 1 |
UNITED NATIONS (AP) — The United Nations chief sharply criticized the “grotesque greed” of oil and gas companies on Wednesday for making record profits from the energy crisis on the back of the world’s poorest people, “while destroying our only home.”
Secretary-General Antonio Guterres said it was “immoral” that the largest energy companies in the first quarter of the year made combined profits of close to $100 billion.
He urged all governments to tax these excessive profits “and use the funds to support the most vulnerable people through these difficult times.”
Guterres urged people everywhere to send a message to the fossil fuel industry and their financiers that “this grotesque greed is punishing the poorest and most vulnerable people, while destroying our only common home, the planet.”
The secretary-general spoke at the news conference launching a report by the Global Crisis Response Group he set up to tackle the triple interconnected crises of food, energy and finance which have especially hit countries trying to recover from the COVID-19 pandemic and deal with the devastating impact of the war in Ukraine.
Guterres told reporters that “we are seeing excessive, scandalous profits of the oil and gas industry in a moment in which all of us are losing money” because of inflation around 7-8%. And “nothing will be more popular than to tax the excessive profits … and to distribute that money to the most vulnerable families,” he said.
The crisis group has already presented recommendations on food and finance and Guterres said he believes “we are making some progress” in those areas, especially on food.
The report released Wednesday focuses on the energy crisis, and the secretary-general said it aims to achieve the equivalent of the grain deal he first proposed to the Russian and Ukrainian presidents to enable Ukrainian grain to be shipped from Russian-blockaded ports on the Black Sea to world markets in desperate need of food supplies. The first ship to leave Ukraine was headed to Lebanon Wednesday after a three-hour inspection in Turkish waters.
Guterres said speculators and obstacles to getting grain and fertilizers to global markets during the Ukraine war sent food prices soaring. But since negotiations on the grain deal “gained traction,” he said, there has been “a significant fall” and today prices of most foodstuffs and fertilizers are more or less at their pre-war prices.
“But that doesn’t mean that bread in the bakery is at the same price before the war, because these are quotations in wholesale markets, some of them related to futures,” he said, and there are a lot of other factors contributing to rising prices including transportation and insurance costs and supply chain disruptions.
U.N. trade chief Rebeca Grynspan, who coordinated the crisis group, said wheat prices are down almost 50% from their peak, corn and fertilizer prices have dropped almost 25% in the past month and crude oil is now around $93 a barrel compared to $120 dollars a barrel in June. “Only natural gas has bucked the trend and is still higher than a month ago,” she told reporters by video from Geneva.
Falling prices are “good news,” Grynspan said, but they have been high for too long and since June forecasts for extreme poverty have risen by 71 million people and forecasts for food insecurity by 47 million.
In another key recommendation, the crisis group urges richer developed countries, especially, to conserve energy including by reducing air conditioning and heating use and by promoting public transport “and nature-based solutions.”
Guterres said new technologies including storage for batteries “should become public goods,” and governments must scale up and diversify supply chains for raw materials and renewable energy technologies.
The group also recommends scaling up private and multilateral finance for “the green energy transition.” And it backed the International Energy Agency’s goal of increasing investments in renewable energy by a factor of seven to meet the goal of cutting greenhouse gas emissions to “net zero” by 2050 to help curb man-made climate change.
“Today, developing countries are spending around $150 billion on clean energy,” said Grynspan, the secretary-general of the United Nations Conference on Trade and Development. “They need to spend $1 trillion in investments.” | https://www.ksnt.com/news/international/un-chief-criticizes-grotesque-greed-of-oil-companies/ | 2022-08-04T11:16:01Z | https://www.ksnt.com/news/international/un-chief-criticizes-grotesque-greed-of-oil-companies/ | false | 55 |
- FDA Clearance of IND Application for OTX-2002, the First Ever Epigenomic Controller, for MYC Driven Hepatocellular Carcinoma Received
- Launch of Phase 1/2 Clinical Trial Under the MYCHELANGELOTM Clinical Program in Patients Expected in 2H'22
- Data from Preclinical Studies Show Promising Anti-Tumor Activity and Loss of Cancer Cell Viability Achieved Through Pre-Transcriptional Downregulation of MYC Gene Expression
- $173.7 Million in Cash, Cash Equivalents and Marketable Securities at End of Second Quarter
CAMBRIDGE, Mass., Aug. 4, 2022 /PRNewswire/ -- Omega Therapeutics, Inc. (Nasdaq: OMGA) ("Omega"), a clinical-stage biotechnology company pioneering the first systematic approach to use mRNA therapeutics as a new class of programmable epigenetic medicines by leveraging its OMEGA Epigenomic Programming™ platform, today announced financial results for the second quarter ended June 30, 2022, and highlighted recent Company progress.
"This has been an exciting second quarter for Omega, in which we were thrilled to receive FDA clearance of our first IND application for OTX-2002, representing the first ever Omega Epigenomic ControllerTM, a new class of programmable mRNA therapeutics. This is a critical milestone for Omega as we enter our next phase of growth and reflects our pioneering work to realize the potential of epigenomic programming," said Mahesh Karande, President and Chief Executive Officer of Omega Therapeutics. "Additionally, we were also pleased to share exciting, new supportive preclinical data, both from our lead program OTX-2002 in hepatocellular carcinoma, as well as from another program in our pipeline focused on non-small cell lung cancer, a potential future indication. We look forward to continuing this momentum as we enter the clinic in the second half of this year and further exploring the broad ranging capabilities of our novel platform in additional therapeutic areas."
Recent Business Highlights
Development Pipeline and Platform
- Received FDA Clearance of Investigational New Drug (IND) application for OTX-2002, the First Omega Epigenomic ControllerTM (OEC), for MYC driven Hepatocellular Carcinoma (HCC): OTX-2002 is a novel, engineered, and programmable mRNA therapeutic designed to downregulate c-Myc (MYC) expression pre-transcriptionally through epigenetic modulation while potentially overcoming MYC autoregulation. This represents the first ever epigenomic controller, a new class of programmable mRNA therapeutics, to receive IND clearance.
- On Track to Launch a Phase 1/2 Clinical Trial Under the MYCHELANGELOTM Clinical Trial Program in HCC patients in the 2H'22: The study consists of Part 1 (OTX-2002 as monotherapy) and Part 2 (OTX-2002 combined with standards of care in HCC). The Phase 1/2 trial will evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary antitumor activity of OTX-2002 as a monotherapy and in combination with standard of care therapies in patients with relapsed or refractory HCC and other solid tumor types known for association with the MYC oncogene. The study is expected to enroll approximately 190 patients at clinical trial sites in the United States, Asia, and Europe and the Company expects to dose the first patient during the fourth quarter of 2022.
- New OTX-2002 Preclinical Data Presented at Three Major Medical Meetings Show Robust In Vivo Efficacy and In Vitro Loss of Cancer Cell Viability:
- Additional OEC Development: Beyond HCC and NSCLC, the Company is advancing multiple programs through preclinical studies spanning oncology, multigenic diseases including immunology, regenerative medicine, and select monogenic diseases.
- OMEGA Epigenomic ProgrammingTM Platform: Omega is creating a new generation of programmable mRNA medicines that are designed to control the fundamental epigenetic processes to correct the root cause of disease by restoring aberrant gene expression to normal levels without altering native nucleic acid sequences. Omega has developed a highly rational and deterministic approach to drug design that enables the Company to rapidly develop and optimize novel OECs with high target specificity to durably tune the expression of single or multiple genes. Omega is advancing multiple preclinical development programs spanning oncology, multigenic diseases including immunology, regenerative medicine, and select monogenic diseases.
Corporate
- Joshua Reed Appointed Chief Financial Officer. Mr. Reed brings over 25 years of successful and diverse corporate and financial operations experience including capital raising, business development, and investor relations.
Second Quarter 2022 Financial Results
As of June 30, 2022, the Company had cash, cash equivalents and marketable securities totaling $173.7 million.
Research and development (R&D) expenses for the second quarter of 2022 were $19.4 million, compared to $11.2 million for the second quarter of 2021. The $8.2 million increase in R&D expense was primarily driven by an increase in personnel-related expenses, external manufacturing costs, and study costs in support of the advancement of our programs
General and administrative (G&A) expenses for the second quarter of 2022 were $6.2 million, compared to $3.6 million for the second quarter of 2021. The $2.6 million increase in G&A expense was primarily driven by an increase in personnel-related expenses to support business growth.
Net loss for the second quarter of 2022 was $25.9 million, compared to $15.4 million for the second quarter of 2021, driven predominantly by increased R&D and G&A expenses to support the Company's growth and operations as a public company.
About Omega Therapeutics
Omega Therapeutics, founded by Flagship Pioneering, is a clinical-stage biotechnology company pioneering the first systematic approach to use mRNA therapeutics as a new class of programmable epigenetic medicines. The company's OMEGA Epigenomic Programming™ platform harnesses the power of epigenetics, the mechanism that controls gene expression and every aspect of an organism's life from cell genesis, growth, and differentiation to cell death. Using a suite of technologies, paired with Omega's process of systematic, rational, and integrative drug design, the OMEGA platform enables control of fundamental epigenetic processes to correct the root cause of disease by returning aberrant gene expression to a normal range without altering native nucleic acid sequences. Omega's modular and programmable mRNA medicines, Omega Epigenomic Controllers™, are designed to target specific epigenomic loci within insulated genomic domains, EpiZips, from amongst thousands of unique, mapped, and validated genome-wide DNA-sequences, with high specificity to durably tune single or multiple genes to treat and cure diseases through Precision Genomic Control™. Omega is currently advancing a broad pipeline of development candidates spanning a range of disease areas, including oncology, regenerative medicine, multigenic diseases including immunology, and select monogenic diseases, including alopecia.
For more information, visit omegatherapeutics.com, or follow us on Twitter and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the timing and design of our Phase 1/2 MYCHELANGELOTM clinical trial; the potential of the OMEGA platform to engineer programmable epigenetic mRNA therapeutics that successfully regulate gene expression by targeting insulated genomic domains; expectations surrounding the potential of our product candidates, including our lead OEC candidate OTX-2002; and expectations regarding our pipeline, including trial design, initiation of preclinical studies and advancement of multiple preclinical development programs in oncology, immunology, regenerative medicine, and select monogenic diseases. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the novel technology on which our product candidates are based makes it difficult to predict the time and cost of preclinical and clinical development and subsequently obtaining regulatory approval, if at all; the substantial development and regulatory risks associated with epigenomic controller machines due to the novel and unprecedented nature of this new category of medicines; our limited operating history; the incurrence of significant losses and the fact that we expect to continue to incur significant additional losses for the foreseeable future; our need for substantial additional financing; our investments in research and development efforts that further enhance the OMEGA platform, and their impact on our results; uncertainty regarding preclinical development, especially for a new class of medicines such as epigenomic controllers; potential delays in and unforeseen costs arising from our clinical trials; the fact that our product candidates may be associated with serious adverse events, undesirable side effects or have other properties that could halt their regulatory development, prevent their regulatory approval, limit their commercial potential, or result in significant negative consequences; the impact of increased demand for the manufacture of mRNA and LNP based vaccines to treat COVID-19 on our development plans; difficulties manufacturing the novel technology on which our OEC candidates are based; our ability to adapt to rapid and significant technological change; our reliance on third parties for the manufacture of materials; our ability to successfully acquire and establish our own manufacturing facilities and infrastructure; our reliance on a limited number of suppliers for lipid excipients used in our product candidates; our ability to advance our product candidates to clinical development; and our ability to obtain, maintain, enforce and adequately protect our intellectual property rights. These and other important factors discussed under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and our other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
Investor contact:
Kevin Murphy
Argot Partners
212.600.1902
ArgotOmega@argotpartners.com
Media contact:
Jason Braco, Ph.D.
LifeSci Communications
646.751.4361
jbraco@lifescicomms.com
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SOURCE Omega Therapeutics | https://www.witn.com/prnewswire/2022/08/04/omega-therapeutics-reports-second-quarter-2022-financial-results-highlights-recent-company-progress/ | 2022-08-04T11:20:54Z | https://www.witn.com/prnewswire/2022/08/04/omega-therapeutics-reports-second-quarter-2022-financial-results-highlights-recent-company-progress/ | false | 10 |
New England Sweetwater Farm and Distillery, from Winchester, NH was a crowd favorite at last year’s Wyman Tavern Brew Fest. From left to right: Alisa Lawrence (Owner), Nilaja Young (Owner) & Gillian Lawrence
Tickets are on sale for the Wyman Tavern Brew Fest April 6 on the grounds of the historic Wyman Tavern, 339 Main Street in Keene. A VIP hour from noon to 1 p.m. will feature limited edition brews and music by Tommy Fakem. VIP tickets are $70 and include souvenir items. General admission runs from 1 to 4:30 p.m. General admission tickets are $40 in advance and $45 at the gate. Tickets are available at Eventbrite and the Historical Society’s website. Proceeds support the programs of the Historical Society of Cheshire County to help people “find their place in history.”
Alan Rumrill, the Historical Society of Cheshire County’s director says the Society is very happy about the Wyman Tavern Brew Fest’s popularity within the community. “People appreciate the brew fest for its backyard feel. For many community members, the brew fest is their first exposure to the Historical Society, and many of them go on to become members.”
Built in 1762, the Wyman Tavern is among Keene’s most historic places, in part for having been the assembly point for 29 local militiamen in April 1775 before they marched to Lexington, Massachusetts at the outbreak of the Revolutionary War.
New this year is an on-site brewing demo by Bryce Daugherty (formerly of Ashuelot Brewing). The demo batch of beer will be available three weeks later at Outlaw Brewing’s Taproom in Winchester.
Music during the VIP hour will be provided by Stoddard’s Tommy Fakem, who plays Irish ballads and folk music. Later in the day, singer-songwriter Heath Lewis, from Asheville, North Carolina will perform.
At the Brew Fest, guests will be able to choose from several food trucks: Little Zoe’s Pizza, Let’s Get Loaded (as in loaded fries and loaded hot dogs), Monster’s Tacos, and pretzels by the Bread Shed.
The variety of brewers at the Wyman Tavern Brew Fest reflects how the Monadnock region has become a destination for aficionados of craft beer and spirits. Someone with a map and a designated driver can visit ten of New Hampshire’s finest craft breweries and distilleries without even leaving Cheshire County. In rural towns as small as Troy, Winchester, or Marlborough, one can walk into a taproom and order a “double New England hazy IPA,” or a “barrel aged porter,” or a “kettle soured Gose with blueberries and black currants,” or a “double-distilled American single malt whiskey.” The brewing and distilling scene is a great draw for guests and residents.
Elm City Brewing Company led the way 28 years ago as the first brewpub in Keene since Prohibition and the fourth-oldest microbrewery in New Hampshire. The owner, Deb Rivest, who was only the second woman in the state to open, own, and operate a microbrewery, sold Elm City Brewing this year to Peter Benik. Elm City will be one of the featured brewers at the Wyman Tavern Brew Fest as well as Keene brewers Branch and Blade and Modestman.
Granite Roots Brewing from Troy will be attending its eighth Wyman Tavern Brew Fest. Granite Roots’ participation goes back to 2015 when it was known as Mooselick Brewery. In 2015, the brewery won the Brew Fest’s first People’s Choice award for its Velvety Antlers Ale.
Another winner of the Wyman Tavern Brew Fest People’s Choice Award is The Outlaw Brewing Company, which won in 2017 with a peach blonde ale. The Outlaw won the award again for a peanut butter white stout, and a third time for “Service and Sacrifice Imperial Red” in honor of active and inactive members of the military. The Outlaw’s brewery in Winchester is open Thursday through Sunday with abundant outdoor seating on a lush lawn.
Frogg Brewing has been attending the Brew Fest since 2018, when Michael and Stephanie Guitard, in partnership with head brewer Alex Rice opened up a taproom on Main Street in Marlborough. They say that they opened Frogg “to make great craft beer so that people from all over can come together over a few laughs over some beer and maybe even make some good friends.” This philosophy fits the Wyman Tavern Brew Fest well.
At the Brew Fest, look for Winchester’s New England Sweetwater Farm and Distillery, Swanzey’s West LA Beer Company, Manchester’s Great North Brewing, Peterborough’s Post and Beam Brewing, and Henniker Brewing Company. From outside the Monadnock region, the Brew Fest welcomes for the first time Whetstone Beer from Brattleboro, Tamworth Distillery from the Lakes region, Litherman’s Limited Brewery from Concord, and Greater Good Imperial Brewing Company from Worcester.
The presenting sponsors of the eighth annual Wyman Tavern Brew Fest are Monadnock Broadcasting Group and Amoskeag Beverages. Major sponsors are Mascoma Bank and the Melanson Company. Patron sponsors are Keene Eye Care, Ingram Construction, Norton and Abert P.C., and Monadnock Food Co-op. Additional sponsors are Filtrine Manufacturing Company, Clark-Mortenson Insurance, Bulldog Design, Monadnock Tent and Event, Tamworth Distilling, Outlaw Brewing, and Granite Roots Brewing.
Dave Sutherland, from the presenting sponsor Monadnock Radio Group, says the radio group always likes to partner with organizations to help them better connect with the community. “It a joy to be able to talk to and meet a broad segment of our local community and to help ensure success for the events of the Historical Society and others. Our staff has a blast at the Brew Fest as well, enjoying it in the way we ask our listener to.”
Proceeds from the Wyman Tavern Brew Fest will benefit the Historical Society of Cheshire County, an organization which has been collecting, preserving, and sharing the history of the Monadnock region (including its beer) since 1927. The Historical Society puts on about 150 programs per year such as exhibits, living history festivals, summer camps, teacher workshops, films, field trips, and even “pop-up museums.” For more information, go to the Historical Society’s website, www.hsccnh.org.
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accounts, the history behind an article. | https://www.sentinelsource.com/elf/potpourri/wyman-tavern-is-the-destination-for-fans-of-craft-brews-and-spirits-on-august-6/article_bb2ab2c0-1372-11ed-ba7d-dfaa28d54648.html | 2022-08-04T11:21:56Z | https://www.sentinelsource.com/elf/potpourri/wyman-tavern-is-the-destination-for-fans-of-craft-brews-and-spirits-on-august-6/article_bb2ab2c0-1372-11ed-ba7d-dfaa28d54648.html | true | 1 |
SINGAPORE, Aug. 4, 2022 /PRNewswire/ -- XT.com, the world's first social infused digital assets trading platform, is excited to announce it will soon list Fanverse (FT) token with USDT trading pair on its platform. The listing of FT is scheduled to occur on August 4th, 2022, at 09:00 (UTC) on the exchange's Main Zone (Web3).
FT is a native cryptocurrency used to facilitate all transactions within the Fanverse NFT platform. The token can be used to perform P2P trading and staking and can seamlessly be used to pay for goods and services. Along with FT token use cases, users can also use it for mining and earn rewards.
Crypto traders and Fanverse holders can start depositing their crypto assets on August 3rd, 2022, at 09:00 (UTC) to prepare themselves for trading. While enjoying a near-zero fee in trading FT/USDT, XT.com will make withdrawals available to traders on August 5th, 2022, at 09:00 (UTC). With this new listing, everyone is encouraged to level up their experience in trading the token and receive a good return. Along with the platform's goal, it aims to also allow crypto holders to trade the token for effective pricing for the first time on the platform.
Jonathan Shih, the Head of MEA (Middle East & Africa) at XT.com, stated, "By having the Fanverse token (FT) listed on our platform, we look forward to aid in accelerating the way artists, creators, and their fans can exchange content and projects exclusively with NFTs in a harmonious manner, alongside providing intuitive support for Fanverse as it aims to become a gateway between the entertainment and blockchain industry."
About Fanverse (FT)
Fanverse (FT) is a non-fungible token (NFT) platform. It targets artists, creators, and their fan base to ignite how they exchange content and projects that are blended with NFTs. Fanverse also aims to become a gateway to bridge the gap between the entertainment and blockchain industry via the NFT market. Additionally, its services focus on entertainment content that features leading Korean artists and TV program-blended NFTs, to provide users with a new and exciting experience.
Website: https://www.fanverse.market/zh
Twitter: https://twitter.com/Fanverse_twt
About XT.com
By consistently expanding its ecosystem, XT.com is dedicated to providing users with the most secure, trusted, and hassle-free digital asset trading services. Our exchange is built from a desire to give everyone access to digital assets regardless where you are.
Founded in 2018, XT.com now serves more than 4.5 million registered users, over 500,000+ monthly active users, and 30+ million users in the ecosystem. Covering a rich variety of trading categories together with an NFT aggregated marketplace, our platform strives to cater to its large user base by providing a secure, trusted, and intuitive trading experience.
As the world's first social infused digital assets trading platform, XT.com also supports social networking platform based transactions to make our crypto services more accessible to users all over the world. Furthermore, to ensure optimal data integrity and security, we see user security as our top priority at XT.com.
Website: https://www.xt.com/
Telegram: https://t.me/XTsupport_EN
Twitter: https://twitter.com/XTexchange
View original content:
SOURCE XT.com | https://www.wsfa.com/prnewswire/2022/08/04/xtcom-lists-fanverse-ft-with-usdt-trading-pair/ | 2022-08-04T11:25:42Z | https://www.wsfa.com/prnewswire/2022/08/04/xtcom-lists-fanverse-ft-with-usdt-trading-pair/ | true | 11 |
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The Hawaii Department of Health’s long-awaited COVID-19 wastewater monitoring program is still a work in progress nearly halfway through the summer as the department deals with staffing challenges.
Health Department officials said regular testing is underway at wastewater treatment sites statewide as part of a federal program, but that its own testing program is not fully operational. The department had previously said its own wastewater monitoring program would be operational some time this summer, with no specific date.
“We’re almost halfway through summer and while we have experienced challenges, our wastewater surveillance program continues to progress,” DOH officials said in a statement. Some reasons contributing to the delay were the unexpected loss of two key members of the State Laboratories Division. Two new staffers are expected to begin working later this month, officials said.
The DOH said 15 wastewater treatment facilities on Kauai, Oahu, Maui and Hawaii island have been enrolled in the U.S. Centers for Disease Control and Prevention’s National Wastewater Surveillance System program.
DOH’s State Laboratories Division coordinated the collection of samples from these 15 facilities by Biobot Analytics, which became the CDC’s contractor in May. Additionally, DOH said it reviews the test results.
The value of wastewater monitoring as an early detection system for COVID-19 levels in a community continues to grow as officially reported coronavirus cases become less reliable due to an influx of uncounted home test kit results.
The CDC launched the surveillance system program in September 2020, noting that people who are infected still shed viral RNA in their feces, regardless of whether they have symptoms or not. The data can also capture those who tested positive at home.
Additionally, sequencing of wastewater samples offers information on what variants are circulating in the community, such as BA.5, which is more immune evasive and transmissible than BA.2, and which is currently dominant nationwide.
On Wednesday the DOH reported a weekly average of 528 new cases a day compared with 573 reported July 27. Health officials have estimated actual numbers are at least five to six times higher due to unreported home test kit results.
The state’s average positivity rate also declined to 13.8% compared with 15.7% reported the previous week.
There were 147 patients with COVID-19 in Hawaii hospitals Wednesday, according to the Hawaii Emergency Management Agency’s dashboard, with 19 in intensive care and four on ventilators.
The Healthcare Association of Hawaii, which will provide hospitalization numbers moving forward, reported a seven-day average of 135 COVID-19 patients in hospitals, lower than the previous week, and average of 23 new COVID-19 admissions per day.
The DOH also reported 21 more deaths, bringing the state’s coronavirus-related death toll to 1,592.
Wastewater trends
The CDC in May selected Biobot Analytics of Cambridge, Mass., to work with public health departments across the U.S. to track levels of the coronavirus in wastewater. Biobot is collecting and analyzing wastewater samples from 500 communities across the U.S., including Hawaii, over the next year.
The results are available on CDC’s wastewater metric map which, as of Wednesday, only displayed 12 dots denoting wastewater treatment plants in Hawaii.
On Oahu, the most populated island, there are five dots. One of them is “sewershed 790” in Honolulu, which represents a population of 700,000, but only has data dating back to early June.
A graph representing virus concentration in wastewater over time for sewershed 790 shows concentration starting at a high level in June, then sloping down through that month. In July the concentration level increased, peaking in midmonth and followed by a current downward slope.
Maui County has three wastewater site dots on the CDC map, while Hawaii County has two — one of which has data dating back to June 12, while the other has no data. Kauai County has two sites with sampling that began in late May.
Biobot also displays data on its own website at biobot.io/data, as long as permission is granted by the treatment plant. So far only a Kauai plant has granted permission. Biobot’s dashboard shows that Kauai County’s coronavirus levels in wastewater have been up and down for the past six months. It also shows BA.5 makes up about 90%, while BA.4 makes up about 10%, of wastewater samples on Kauai.
The testing of wastewater samples has proven to be a useful indicator in several other U.S. states and counties for the levels of the SARS-CoV-2, the virus that causes COVID-19, in a community. Some are able to track the levels of COVID-19 case counts against wastewater virus levels, and determine whether they correlate.
Los Angeles County’s Department of Public Health noted that monitoring coronavirus loads in several wastewater samples was critical to helping foreshadow sustained increases or decreases in transmission. It could also serve as “a leading indicator that precedes trends in confirmed cases and hospitalizations.”
In late July, Barbara Ferrer, the county’s director of public health, said wastewater data, which correlated closely with daily case counts during the winter omicron surge, began to show more divergence during the surges in May and June.
“Based on the prior close correlation and the trends, this discordance supports the reality that recent reported case counts are likely underestimating the true magnitude of community transmission,” she said during a media briefing last week. “This likely reflects both reduced PCR (polymerase chain reaction) testing and the greater use and reliance on over-the-counter tests, which as we all know are not reported to the Public Heath Department.”
Wastewater surveillance can identify the presence of the coronavirus shed by both symptomatic and asymptomatic people, the department noted, as well as increases across large geographic areas.
States such as California, Colorado and Missouri have created their own online dashboards to display wastewater COVID-19 data, searchable by specific county sewersheds. In Missouri the public health department partnered with the University of Missouri in 2020 and has one of the most robust sewershed surveillance programs in the U.S., with more than 100 sites. The trends are displayed on a state map, and specific locations can be selected to view trendings on a graph.
Tim Brown, an infectious disease modeler at East-West Center, said any additional data, particularly wastewater COVID-19 data, would be helpful in efforts to pinpoint where Hawaii is in the pandemic.
The weekly COVID-19 case counts are becoming less reliable as more people shift to home test kits, he said, adding that wastewater would serve as a better proxy because the results should be the same regardless of whether people are getting PCR tested or using home test kits.
While the CDC’s online presentation of wastewater data is not useful or understandable to most people, Brown said, by contrast, Biobot presents an easy-to-understand graph plotting of clinical cases per 100,000 against virus levels in wastewater. At the bottom of the graphing, Biobot notes the percentage of COVID-19 variants detected in the wastewater.
In addition to DOH data, Brown looks at Biobot’s Kauai wastewater data and Walgreen’s COVID-19 index, which offers a recent snapshot of its total positive tests and variants in the state.
“Wastewater data tells us that COVID is still widespread in our islands,” Brown said.
The DOH’s biweekly variant report — showing the results of genome sequencing from positive COVID-19 test samples statewide — offers information that is outdated by the time it’s published, making it hard for the public to interpret what is going on, he said.
“We find out what was happening a month ago,” Brown said. “It’s too late.”
DOH officials said when the department’s COVID-19 wastewater program is fully operational, it will likely offer wastewater data in a biweekly report, and intends to make it available to the public online. | https://www.staradvertiser.com/2022/08/04/hawaii-news/hawaii-department-of-healths-covid-19-wastewater-monitoring-program-hit-by-delays/ | 2022-08-04T11:27:21Z | https://www.staradvertiser.com/2022/08/04/hawaii-news/hawaii-department-of-healths-covid-19-wastewater-monitoring-program-hit-by-delays/ | true | 1 |
When you glance into a waterway, you probably expect aquatic life and the occasional piece of trash. But the reality in many urban metropolises is that lurking beneath the surface of any waterway could be an astounding number of... bicycles.
It's a strange social phenomenon that has forced bike sharing companies to fish out thousands of their rental bikes from rivers in Southern China; and a rental company simply stopped business in Rome because too many of its bicycles were thrown into the Tiber.
In Amsterdam, 15,000 bikes are pulled from canals each year — a number that has actually improved over past years.
Why have so many of these wheeled vessels met a watery grave? And what happens to a bike once it has changed terrains?
Jody Rosen is a contributing writer for the New York Times Magazine and the author of Two Wheels Good: The History and Mystery of the Bicycle. He joined All Things Considered to shed light on this maritime mystery.
This interview has been edited for length and clarity.
Interview highlights
On how widespread this trend is around the world
This is a phenomenon that kind of came to my attention first because I started to see news items from various places. You know, a Citi Bike here in New York City where I live turned up at a docking station, kind of blistered with oysters and barnacles. I started Googling around online and noticed that this was a very widespread phenomenon on at least three continents. So it's definitely a widespread problem, but the extent of the problem, I think, is sort of by definition unknown because after all, it's hidden. I mean, there are bicycles that are literally covered by the waterways of the world. So it's not something where we can ever have definitive or reliable statistics kind of by definition.
On the existing documentation of this online
When you see the bicycle go in there and slip below the surface of the water, there's just a certain satisfaction, a certain free zone in that. And I say that not because I've done it myself, mind you. This is a practice which is documented online, for instance, on YouTube quite comprehensively. So there's lots of videos that you can see where people are tossing bikes into water and taking videos of it for fun and sport.
So that is definitely a factor. But there's all kinds of other types of vandalism that surround this, which I think are interesting. If we go back to the city of Amsterdam, where there are so many bikes, it's really one of the world's leading bicycle cities. And there are so many canals. It's sort of an ideal environment for the dunking or drowning of bicycles. And it has been historically such a big problem that there is this municipal core of what they call "bicycle fishermen" there that the city employs to dredge the bicycles out of the canal.
On the role of bike share services in the increase of this
That's what I think is behind the current widespread phenomenon. The fact that these bike programs are proliferating across the world, which I think we can say is a good thing — we need more bicycles in the city — but there are simply more of them around. And in fact, you can imagine that people feel a little bit more impunity, that a potential bicycle drowner would feel less guilt attached to tossing a bike in the water if it's a share bike that has a bank or some sort of corporate sponsor's logo on the mudguard as opposed to, you know, some individual joe-schmoe's bike.
There may be what you might call a political dimension to this. We're seeing a kind of increasingly heated debate over what kinds of vehicles belong on the streets of cities. Motorists are reacting to the increased numbers of bicycles on the streets, sometimes with great annoyance and and sometimes with actual violence. So it may be that at least these drowned bikes, these trashed and vandalized bikes reflect a kind of ongoing battle for the right to the roadways.
In China, we've also had instances of people stating explicitly that the reason that they threw bikes into the water was because the bicycles compromise their privacy. These shared bike programs really keep track of the riders who rent them using apps on their mobile phone. And so this is a kind of an ironic thing because at one time in the 19th century, the bicycle was viewed as really an emancipatory machine, a vehicle of liberation, that gave people a new kind of personal mobility, a new kind of freedom they'd never experienced before. Well, now there are bicycles that kind of spy on their riders. So there may be complicated motivations and politics entering into this
On what happens to the bikes when they are recovered
This is another mystery. And we know that in certain places, for instance, in Amsterdam, they are recycled. There's a program there recycling them. And one of the things that I think is funny about the Amsterdam example is the officials there attribute this phenomenon in part to drunkenness. You know, people who have maybe had a little bit too much to drink, maybe they're walking on their way home after a long night in the bar, they might see a bike and say, "What the heck?" they're feeling a little jolly and they toss it in.
Well, many of those bikes, as it turns out, are recycled into various types of food packaging, including the metal that's used in beer cans. So it could be that there's a kind of ecosystem at work where someone, a drunken person, tosses a bicycle into the water, that bicycle is eventually extracted by the bicycle fishing boat, it's recycled into a beer can, and another drunken person comes along, drinks that too much of that beer, tosses another bike into the water, and around we go.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wbfo.org/2022-08-04/why-do-so-many-bikes-end-up-underwater-the-reasons-can-be-weird-and-varied | 2022-08-04T11:28:49Z | https://www.wbfo.org/2022-08-04/why-do-so-many-bikes-end-up-underwater-the-reasons-can-be-weird-and-varied | true | 34 |
Market Movers: Genetron (GTH) Climbs 6.59% to Close at $0.97 August 3
Equities Staff Follow |Genetron Holdings Ltd - ADR (NASDAQ:GTH) shares gained 6.59% today on 94,669 shares - while the stock has a 30 day average of 319,028 shares traded.
After closing today at $0.97 the company has a 50 day moving average of $1.37.
The company anticipates its next earnings on 2022-08-24.
Genetron has moved 85.08% so far this year.
For technical charts, analysis, and more on Genetron visit the company profile.
About Genetron Holdings Ltd - ADR
Genetron Holdings Limited ("Genetron Health" or the "Company") is a leading precision oncology platform company in China that specializes in cancer molecular profiling and harnesses advanced technologies in molecular biology and data science to transform cancer treatment. The Company has developed a comprehensive oncology portfolio that covers the entire spectrum of cancer management, addressing needs and challenges from early screening, diagnosis and treatment recommendations, as well as continuous disease monitoring and care. Genetron Health also partners with global biopharmaceutical companies and offers customized services and products.
To get more information on Genetron Holdings Ltd - ADR and to follow the company's latest updates, you can visit the company's profile page here: Genetron Holdings Ltd - ADR's Profile. For more news on the financial markets be sure to visit Equities News. Also, don't forget to sign-up for the Daily Fix to receive the best stories to your inbox 5 days a week.
Sources: Symbol info widget is provided by TradingView based on 15-minute-delayed prices. All other article data is provided by IEX Cloud on 15-minute delayed prices or EOD company info.
Stock price data is provided by IEX Cloud on a 15-minute delayed basis. Chart price data is provided by TradingView on a 15-minute delayed basis.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer | https://www.equities.com/news/market-movers-genetron-gth-climbs-6-59-to-close-at-0-97-august-3 | 2022-08-04T11:30:49Z | https://www.equities.com/news/market-movers-genetron-gth-climbs-6-59-to-close-at-0-97-august-3 | true | 22710 |
The Bank of England has raised borrowing costs by 0.5% to a 13-year high of 1.75% – in the sixth interest rate rise in a row.
The Monetary Policy Committee raised borrowing costs by 50 basis points, for the first time since the Committee took control of interest rates in 1997.
Inflation is expected to climb over 10% in the coming months, as gas prices see UK energy bills tripling in the coming months.
Biggest challenge facing Britain
Conservative leadership hopeful and former Chancellor Rishi Sunak warned: “One of the most urgent challenges we face as a country is getting inflation under control as quickly as possible.
“The Bank has acted today and it is imperative that any future government grips inflation, not exacerbates it.
“Increasing borrowing will put upward pressure on interest rates, which will mean increased payments on people’s mortgages. It will also make high inflation and high prices last for longer, making everyone poorer.
“As prime minister I would prioritise gripping inflation, growing the economy and then cutting taxes.”
Will interest rates go up further?
In recent weeks, British companies pared back profits and earnings forecasts as consumers tightened their belts, with delivery unicorn Deliveroo (GB:ROO) cutting its revenue guidance.
As consumers shun big-ticket purchases, furniture retailer Made.com (GB:MADE) also slashed its earnings and sales forecasts for the coming months.
The National Institute of Economic and Social Research warned this week that the Bank of England would need to raise interest rates to 3% to bring down inflation.
The think tank said, “The Bank of England’s Monetary Policy Committee must continue to be cautious as it walks a fine line between tightening policy too quickly, worsening the recession, and too slowly, increasing the risk of high inflation becoming embedded in expectations.” | https://www.tipranks.com/news/bank-of-england-hikes-interest-rates-0-5-in-biggest-rise-since-1995/ | 2022-08-04T11:32:23Z | https://www.tipranks.com/news/bank-of-england-hikes-interest-rates-0-5-in-biggest-rise-since-1995/ | false | 1 |
This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release. The information contained in this news release is unaudited.
- Consolidated adjusted EBITDA1 up 4.6% driven by 3.8% service revenue growth
- Net earnings of $654 million, down 10.9%, with net earnings attributable to common shareholders of $596 million, or $0.66 per common share, down 13.2%; adjusted net earnings1 of $791 million generated adjusted EPS1 of $0.87, up 4.8%
- Wireless operating momentum continues: 110,761 mobile phone net subscriber activations, up 139.5%; best-ever quarterly postpaid churn2 rate of 0.75%; 3.8% higher mobile phone blended ARPU3; and strong service revenue and adjusted EBITDA growth of 7.8% and 8.3% respectively
- Next evolution of 5G underway with the launch of mobile 5G+, delivering Bell's fastest mobile speeds ever
- Retail Internet net activations up 27.9% to 22,620 with 8% residential Internet revenue growth; on track to deliver approximately 900,000 new fibre locations in 2022
- Broadband leadership underscored with upcoming launches of 8 Gbps symmetrical pure fibre Internet service in select areas of Toronto with data upload speeds 250 times faster than cable, and Wi-Fi 6E technology; and newly launched Fibe TV service powered by Google Android TV
- Media revenue up 8.7% with 5.6% adjusted EBITDA growth; digital revenue4 up 55%
- Reconfirming all 2022 financial guidance targets
MONTRÉAL, Aug. 4, 2022 /PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today reported results for the second quarter (Q2) of 2022.
"The Bell team continues to deliver for all the stakeholders we serve. Q2 marked another quarter of consistent operational execution, demonstrating that our strategy to reach more Canadians in communities large and small across our footprint with the best network technologies, as well as our efforts to champion the customer experience is the right approach to move us forward," said Mirko Bibic, President and CEO of BCE and Bell Canada.
"We continue to see momentum in wireless with 110,761 mobile phone net subscriber activations and strong service revenue growth. Our retail Internet net activations were also up 27.9% with 8% residential Internet revenue growth. These excellent results are a testament to the significant and unprecedented investments we're making in network connectivity, reliability, and our fibre footprint expansion. In addition, our continued investments in customer experience and digital support options are encouraging customers to stay with Bell, as reflected in a third consecutive quarter of improved churn for our wireless, residential Internet and Fibe TV services.
The Bell team continues to be there for our customers with reliable, robust networks and innovative products and services. By the end of the year, we will have invested $14 billion since 2020, including planned capital expenditures of approximately $5 billion for 2022, the highest amount ever by a Canadian telecom company in both a single year and over a three-year cycle. These massive investments are going towards our fibre-to-the-home and 5G wireless core networks, ongoing expansion into rural and remote communities, as well as on boosting capacity and ensuring resiliency. Most importantly, we're investing in our people. We welcomed 570 new grads and interns to our team across the country, and are looking to hire over 1,000 team members with high-tech skills by the end of this year."
KEY BUSINESS DEVELOPMENTS
Building the Best Networks
Bell expanded availability of its 3-gigabit per second symmetrical Internet service to Québec City and announced that 8-gigabit per second symmetrical Internet speeds will be available for customers in the coming months, starting in Toronto this Fall. Bell is also launching Wi-Fi 6E, the fastest Wi-Fi technology available today. Bell expanded pure fibre Internet access to approximately 160,000 additional homes and businesses in London, Ontario; approximately 5,000 in Kingsville, Ontario; and over 20,000 homes and businesses in New Brunswick. Bell continued to work closely with governments on projects to bring broadband access to remote and other hard to serve areas including to the Rural Municipality of Kingston in conjunction with the PEI Broadband Fund and the Municipality of Kingston, and in Northern Québec and Newfoundland and Labrador with the federal Universal Broadband Fund.
5G Leadership and Technology Innovation
Bell announced the commercial availability of 5G+ in Toronto and parts of Southern Ontario, the next evolution of 5G using the 3500 MHz spectrum obtained in the ISED auction last year. Bell expects to cover approximately 40% of the Canadian population with 5G+ by the end of 2022, including the Greater Toronto Area, Halifax, Nova Scotia, St. John's, Newfoundland and Sherbrooke, Québec. Bell also announced the upcoming rollout of its nationwide 5G standalone core to enable the development and delivery of new and more advanced services with lower latency and greater capacity. Bell continues to work with partners on 5G and network innovations including Numana in Québec on an open quantum telecommunications network and The PIER in Halifax for a 5G-ready wireless private network at its innovation hub.
Delivering compelling content
Bell Media signed a long-term agreement with the NFL to continue to be the exclusive television broadcast partner of the NFL in Canada with TSN, CTV and RDS airing games across the country. TSN, RDS, CTV and Noovo delivered extensive coverage of the Formula1 Canadian Grand Prix, and TSN and RDS kicked off the CFL 2022 season. Bell Media announced the details of its English and French language Fall 2022 – Winter 2023 slate as part of its Upfront 22 and Futur 22 events, including nearly 100 titles of original programming. The Amazing Race Canada is back after a two-year hiatus with Season 8 on CTV, Crave Original Canada's Drag Race Season Three is now streaming on Crave, and Shoresy was the most-watched Canadian series launch on Crave.
Bell kicked off the summer festival season supporting marquee events across the country including an expansion of its sponsorship agreement with evenko as presenting sponsor of Osheaga, îLESONIQ and LASSO Montréal festivals, presenting sponsor of the Cavendish Beach Music Festival in PEI, the Area 506 festival in New Brunswick, and the Bell Grandstand Show at the Calgary Stampede. Bell continues to be a leader in Canada's rapidly growing esports community with the renewal and expansion of its partnership with OverActive Media, a global esports and entertainment organization, and the recent unveiling of the Raptors Uprising gaming hub, the Bell Gaming Centre. Bell Fibe TV customers in Ontario and Québec can now enjoy new capabilities and features including access to the Google Play app catalogue, voice remote powered by Google Assistant, universal search and Cloud PVR, backed by Google Android TV.
Bell for Better: Better World, Better Communities, Better Workplace
Bell was the highest ranked telco in the world and #4 overall in Canada on the Best 50 Corporate Citizens list compiled by Corporate Knights. Bell's science-based targets for greenhouse gas emissions reduction have been approved by the Science Based Targets initiative (SBTi)1. Science-based targets are emissions reduction targets in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement to limit global warming to 1.5°C above pre-industrial levels. Bell achieved ISO 50001 certification of its energy management system for a third consecutive year, and is the first communications company in North America to have its energy management system ISO 50001 certified. IDC Canada once again named Bell as a cybersecurity services leader in their annual Canadian Security Services Vendor Assessment report, the only telecommunications company in Canada to be recognized as a leader five times in a row by IDC. The Winnipeg Blue Bombers and Bell MTS announced a new grant program to help over 100 youth play football this year. Northwestel sold its fibre-to-the-home assets in Yukon to a group of 13 First Nation development corporations, as part of the Shared Pathways Network partnership with the consortium.
Bell welcomed 570 new grads and interns, and we continue to exceed our BIPOC diversity target of 40%. Bell also plans to hire over 1,000 people for highly-skilled technical roles this year including in AI/ML, Cloud, Cybersecurity, 5G and software development. Bell became a member of the Tent Partnership for Refugees to explore hiring and training opportunities for refugees in the private sector.
BCE Q2 RESULTS
Financial Highlights
"Bell's Q2 financial results continued to demonstrate our disciplined focus on profitable customer growth and effective management of challenging global macroeconomic conditions, as evidenced by another quarter of healthy consolidated revenue, adjusted EBITDA and free cash flow growth that remain in line with our financial guidance targets for 2022, supporting sustainable value creation for all stakeholders," said Glen LeBlanc, Chief Financial Officer for BCE and Bell Canada.
"This strong consolidated financial performance was underpinned by standout results across the organization, highlighted by strong wireless service revenue growth of 7.8%, 8% higher residential Internet revenue, an 8.7% increase in total media revenue, and year-over-year increases in adjusted EBITDA at all Bell operating segments.
Our balance sheet remains very healthy with availability liquidity1 at the end of Q2 of approximately $3.1 billion, including $596 million in cash, substantial recurring cash flow, a defined benefit plan that is stronger than ever, as well as good predictability over debt service costs given no near-term debt re-financing requirements and a high proportion of fixed-rate debt. Overall, we have the financial strength and flexibility to execute on our strategic priorities and capital markets objectives for 2022."
- BCE operating revenue increased 2.9% over Q2 2021 to $5,861 million, due to 3.8% higher service revenue of $5,233 million, driven by strong wireless, residential Internet and media growth. Product revenue was down 4.6% to $628 million, largely reflecting lower year-over-year business wireline data equipment sales.
- Net earnings declined 10.9% to $654 million and net earnings attributable to common shareholders totalled $596 million, or $0.66 per share, down 13.0% and 13.2% respectively. The year-over-year decreases were driven mainly by higher other expense, reflecting net mark-to-market losses on derivatives used to economically hedge equity settled share-based compensation, higher depreciation and amortization expense and increased severance, acquisition and other costs, partly offset by higher adjusted EBITDA, lower year-over-year asset impairment charges and a higher net return on post-employment benefit plans. Adjusted net earnings were up 5.3% to $791 million, delivering a 4.8% increase in adjusted EPS to $0.87.
- Adjusted EBITDA grew 4.6% to $2,590 million, reflecting year-over-year increases at all Bell operating segments. BCE's consolidated adjusted EBITDA margin2 increased 0.7 percentage points to 44.2% from 43.5% in Q2 2021, due to the flow-through impact of strong service revenue growth and a decline in low-margin product sales.
- BCE capital expenditures were $1,219 million, up 0.7% from $1,210 million in Q2 2021, corresponding to a capital intensity3 of 20.8%, compared to 21.2% last year. Capital expenditures this quarter were focused on the continued accelerated rollout of Bell's pure fibre and wireless 5G networks.
- BCE cash flows from operating activities increased 3.9% to $2,597 million compared to Q2 2021, reflecting higher adjusted EBITDA, lower severance and other costs paid and reduced contributions to post-employment benefit plans due to a contribution holiday in 2022, partly offset by lower cash from working capital and higher cash taxes paid.
- Free cash flow was $1,333 million, up 7.1% from $1,245 million in Q2 2021, as higher cash flows from operating activities, excluding acquisition and other costs paid, was partly offset by increased capital expenditures.
Q2 OPERATING RESULTS BY SEGMENT
Bell Wireless
- Total wireless operating revenue increased 5.5% to $2,246 million.
- Service revenue grew 7.8% to $1,703 million, driven by larger mobile phone and connected device subscriber bases and higher blended mobile phone ARPU that reflected higher roaming revenue due mainly to higher international travel volumes with the easing of COVID-related global travel restrictions.
- Product revenue decreased 0.9% to $543 million as a result of fewer device upgrades by existing subscribers.
- Wireless adjusted EBITDA increased 8.3% to $1,049 million on the flow-through of strong service revenue growth, yielding a 1.2 percentage-point margin increase to 46.7%.
- Bell added 110,761 total net new postpaid and prepaid mobile phone subscribers1, 139.5% higher than 46,247 in Q2 2021.
- Postpaid mobile phone net subscriber activations totaled 83,197, compared to 44,433 in Q2 2021. The significant 87.2% increase was the result of an 8 basis-point improvement in mobile phone customer churn to 0.75% — our best-ever postpaid churn result, and a 9.8% increase in gross subscriber activations driven by greater retail store traffic compared to last year, continued 5G momentum, immigration growth, as well as improved business customer demand.
- Bell's prepaid mobile phone net subscriber activations were 27,564, up significantly from 1,814 in Q2 2021. The year-over-year increase was the result of 40.7% higher gross activations, reflecting greater market activity, including increased immigration and travel to Canada, which also contributed to a higher customer churn rate of 4.41%, up from 3.98% in Q2 2021.
- Bell's mobile phone customer base totalled 9,602,122 at the end of Q2, a 4.2% increase over last year, comprising 8,747,472 postpaid subscribers, up 4.1%, and 854,650 prepaid customers, up 5.9% from last year.
- Blended mobile phone ARPU grew 3.8% to $59.54, driven by increased roaming revenue consistent with the return of international travel as COVID restrictions eased, and our continued focus on higher-value subscriber loadings across all our postpaid and prepaid brands.
- Bell's mobile connected device subscriber base¹ declined by 344, compared to a net increase of 47,449 in Q2 2021, due to higher data device net losses, reflecting fewer low-ARPU tablet transactions as well as higher business IoT deactivations driven largely by one customer. Mobile connected device subscribers totalled 2,298,327 at the end of Q2, an increase of 5.5% over last year.
Bell Wireline
- Total wireline operating revenue decreased 0.3% to $2,995 million, compared to Q2 2021.
- Wireline service revenue was up 0.6% to $2,909 million, driven by higher residential Internet revenue and a regulatory charge from Q2 2021 related to the CRTC's decision on final aggregated rates for wholesale Internet access that did not recur this year. This was partly offset by ongoing declines in legacy voice, data and satellite TV services, reduced sales of IP connectivity and business service solutions revenue1, reflecting delayed project spending by large enterprise customers because of ongoing data equipment supply chain disruptions, and the sale of Createch on March 1, 2022.
- Product revenue decreased 23.2% to $86 million, due mainly to lower sales of data equipment to enterprise business customers attributable to global supply chain constraints.
- Wireline adjusted EBITDA grew 1.7% to $1,315 million, which benefitted from the non-recurrence of the wholesale Internet regulatory impact from Q2 2021 noted above. A 1.8% reduction in operating costs also contributed to higher wireline adjusted EBITDA and a 0.8 percentage-point improvement in margin to 43.9% this quarter, despite the unfavourable impact of unusually high storm-related costs and inflationary pressure particularly on fuel and labour costs.
- Bell added 22,620 net new retail Internet subscribers2, up 27.9% from 17,680 in Q2 2021, driven by higher customer gross activations and lower churn within Bell's rapidly-expanding direct fibre service footprint and improved year-over-year small business performance. Within Bell's all-fibre footprint, retail Internet net subscriber activations were 36,473, up 19.5% over last year. Retail Internet subscribers totalled 3,977,387 at the end of Q2, up 6.1% from last year.
- Bell TV added 3,838 net new retail IPTV subscribers2, compared to 4,540 in Q2 2021. At the end of Q2, Bell served 1,907,564 retail IPTV subscribers, a 4.7% increase compared to Q2 2021.
- Retail satellite TV net subscriber2 losses were 15,365, up from 9,468 in Q2 2021, reflecting fewer seasonal residential activations and increased churn compared to last year when we experienced fewer customer deactivations due to COVID. Bell's retail satellite TV customer base totalled 816,583 at the end of Q2, down 8.9% from last year.
- Retail residential NAS2 net losses totalled 52,712, compared to 51,292 in Q2 2021. Bell's retail residential NAS customer base totalled 2,207,004 at the end of Q2, a 7.3% decline compared to last year.
Bell Media
- Media operating revenue increased 8.7% to $821 million compared to Q2 2021, driven by the return of the F1 Canadian Grand Prix, continued strong digital media growth, advertising increases across Bell Media's specialty TV sports and news services, stronger radio and out of home advertiser demand as the COVID recovery continues, and higher subscriber revenue from Crave streaming subscriber growth.
- Digital revenue grew 55%, the result of strong Crave direct-to-consumer growth and continued rapid scaling of our strategic audience management (SAM) TV media sales tool.
- TSN and RDS are Canada's top-ranked English and French-language sports networks for the 2021/2022 broadcast year to date.
- Noovo has outpaced its French-language conventional TV competitors in viewership growth for the 2021/2022 broadcast year to date with primetime audiences up 5%.
- Adjusted EBITDA was up 5.6% to $226 million on the flow-through of higher year-over-year operating revenue. However, margin declined to 27.5% from 28.3% in Q2 2021, due to a 10.0% increase in operating costs that reflected the return of the F1 Canadian Grand Prix and increased overall activity as the economy returns to more normal levels.
COMMON SHARE DIVIDEND
BCE's Board of Directors has declared a quarterly dividend of $0.92 per common share, payable on October 15, 2022 to shareholders of record at the close of business on September 15, 2022.
OUTLOOK FOR 2022
BCE confirmed its financial guidance targets for 2022, as provided on February 3, 2022, as follows:
For the full-year 2022, we expect growth in adjusted EBITDA, a reduction in contributions to post-employment benefit plans and payments under other post-employment benefit plans, and lower cash income taxes, will drive higher free cash flow.
Please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release for a description of the principal assumptions on which BCE's 2022 financial guidance targets are based, as well as the principal related risk factors.
CALL WITH FINANCIAL ANALYSTS
BCE will hold a conference call for financial analysts to discuss Q2 2022 results on Thursday, August 4 at 8:00 am eastern. Media are welcome to participate on a listen-only basis. To participate, please dial toll-free 1-800-806-5484 or 416-340-2217 and enter passcode 6085726#. A replay will be available until midnight on September 4, 2022 by dialing 1-800-408-3053 or 905-694-9451 and entering passcode 6368475#. A live audio webcast of the conference call will be available on BCE's website at BCE Q2 2022 conference call.
NON-GAAP AND OTHER FINANCIAL MEASURES
BCE uses various financial measures to assess its business performance. Certain of these measures are calculated in accordance with International Financial Reporting Standards (IFRS or GAAP) while certain other measures do not have a standardized meaning under GAAP. We believe that our GAAP financial measures, read together with adjusted non-GAAP and other financial measures, provide readers with a better understanding of how management assesses BCE's performance.
National Instrument 52-112, Non-GAAP and Other Financial Measures Disclosure (NI 52-112), prescribes disclosure requirements that apply to the following specified financial measures:
- Non-GAAP financial measures;
- Non-GAAP ratios;
- Total of segments measures;
- Capital management measures; and
- Supplementary financial measures.
This section provides a description and classification of the specified financial measures contemplated by NI 52-112 that we use in this news release to explain our financial results except that, for supplementary financial measures, an explanation of such measures is provided where they are first referred to in this news release if the supplementary financial measures' labelling is not sufficiently descriptive.
Non-GAAP Financial Measures
A non-GAAP financial measure is a financial measure used to depict our historical or expected future financial performance, financial position or cash flow and, with respect to its composition, either excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in BCE's consolidated primary financial statements. We believe that non-GAAP financial measures are reflective of our on-going operating results and provide readers with an understanding of management's perspective on and analysis of our performance.
Below are descriptions of the non-GAAP financial measures that we use in this news release to explain our results as well as reconciliations to the most comparable IFRS financial measures.
Adjusted net earnings – Adjusted net earnings is a non-GAAP financial measure and it does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers.
We define adjusted net earnings as net earnings attributable to common shareholders before severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net equity losses (gains) on investments in associates and joint ventures, net losses (gains) on investments, early debt redemption costs, impairment of assets and discontinued operations, net of tax and NCI.
We use adjusted net earnings and we believe that certain investors and analysts use this measure, among other ones, to assess the performance of our businesses without the effects of severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net equity losses (gains) on investments in associates and joint ventures, net losses (gains) on investments, early debt redemption costs, impairment of assets and discontinued operations, net of tax and NCI. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.
The most directly comparable IFRS financial measure is net earnings attributable to common shareholders.
The following table is a reconciliation of net earnings attributable to common shareholders to adjusted net earnings on a consolidated basis.
Available liquidity – Available liquidity is a non-GAAP financial measure and it does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers.
We define available liquidity as cash, cash equivalents and amounts available under our securitized trade receivable program and our committed bank credit facilities.
We consider available liquidity to be an important indicator of the financial strength and performance of our businesses because it shows the funds available to meet our cash requirements, including for, but not limited to, capital expenditures, post-employment benefit plans funding, dividend payments, the payment of contractual obligations, maturing debt, on-going operations, the acquisition of spectrum, and other cash requirements. We believe that certain investors and analysts use available liquidity to evaluate the financial strength and performance of our businesses. The most directly comparable IFRS financial measure is cash.
The following table is a reconciliation of cash to available liquidity on a consolidated basis.
Free cash flow – Free cash flow is a non-GAAP financial measure and it does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers.
We define free cash flow as cash flows from operating activities, excluding cash from discontinued operations, acquisition and other costs paid (which include significant litigation costs) and voluntary pension funding, less capital expenditures, preferred share dividends and dividends paid by subsidiaries to NCI. We exclude cash from discontinued operations, acquisition and other costs paid and voluntary pension funding because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.
We consider free cash flow to be an important indicator of the financial strength and performance of our businesses. Free cash flow shows how much cash is available to pay dividends on common shares, repay debt and reinvest in our company. We believe that certain investors and analysts use free cash flow to value a business and its underlying assets and to evaluate the financial strength and performance of our businesses. The most directly comparable IFRS financial measure is cash flows from operating activities.
The following table is a reconciliation of cash flows from operating activities to free cash flow on a consolidated basis.
Non-GAAP Ratios
A non-GAAP ratio is a financial measure disclosed in the form of a ratio, fraction, percentage or similar representation and that has a non-GAAP financial measure as one or more of its components.
Below is a description of the non-GAAP ratio that we use in this news release to explain our results.
Adjusted EPS – Adjusted EPS is a non-GAAP ratio and it does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers.
We define adjusted EPS as adjusted net earnings per BCE common share. Adjusted net earnings is a non-GAAP financial measure. For further details on adjusted net earnings, refer to Non-GAAP Financial Measures above.
We use adjusted EPS, and we believe that certain investors and analysts use this measure, among other ones, to assess the performance of our businesses without the effects of severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net equity losses (gains) on investments in associates and joint ventures, net losses (gains) on investments, early debt redemption costs, impairment of assets and discontinued operations, net of tax and NCI. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.
Total of Segments Measures
A total of segments measure is a financial measure that is a subtotal or total of 2 or more reportable segments and is disclosed within the Notes to BCE's consolidated primary financial statements.
Below is a description of the total of segments measure that we use in this news release to explain our results as well as a reconciliation to the most comparable IFRS financial measure.
Adjusted EBITDA – Adjusted EBITDA is a total of segments measure. We define adjusted EBITDA as operating revenues less operating costs as shown in BCE's consolidated income statements.
The most directly comparable IFRS financial measure is net earnings. The following table is a reconciliation of net earnings to adjusted EBITDA on a consolidated basis.
Supplementary Financial Measures
A supplementary financial measure is a financial measure that is not reported in BCE's consolidated financial statements, and is, or is intended to be, reported periodically to represent historical or expected future financial performance, financial position, or cash flows.
An explanation of such measures is provided where they are first referred to in this news release if the supplementary financial measures' labelling is not sufficiently descriptive.
KEY PERFORMANCE INDICATORS (KPIs)
We use adjusted EBITDA margin, blended ARPU, capital intensity, churn and subscriber (or customers or NAS) units to measure the success of our strategic imperatives. These key performance indicators are not accounting measures and may not be comparable to similar measures presented by other issuers.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to BCE's financial guidance (including revenues, adjusted EBITDA, capital intensity, adjusted EPS and free cash flow), BCE's 2022 annualized common share dividend, our network deployment plans and anticipated capital expenditures, our plans to deliver faster Internet and Wi-Fi speeds and related offerings, the expectation that we have the financial strength and flexibility to execute on our strategic priorities and capital markets objectives in 2022, our goal to achieve our science-based targets (SBTs) for greenhouse gas (GHG) emissions reduction, BCE's business outlook, objectives, plans and strategic priorities, and other statements that are not historical facts. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, project, strategy, target and other similar expressions or future or conditional verbs such as aim, anticipate, believe, could, expect, intend, may, plan, seek, should, strive and will. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements and that our business outlook, objectives, plans and strategic priorities may not be achieved. These statements are not guarantees of future performance or events, and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe our expectations as of August 4, 2022 and, accordingly, are subject to change after such date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. From time to time, we consider potential acquisitions, dispositions, mergers, business combinations, investments, monetizations, joint ventures and other transactions, some of which may be significant. Except as otherwise indicated by us, forward-looking statements do not reflect the potential impact of any such transactions or of special items that may be announced or that may occur after August 4, 2022. The financial impact of these transactions and special items can be complex and depends on the facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way or in the same way we present known risks affecting our business. Forward-looking statements are presented in this news release for the purpose of assisting investors and others in understanding certain key elements of our expected financial results, as well as our objectives, strategic priorities and business outlook, and in obtaining a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.
Material Assumptions
A number of economic, market, operational and financial assumptions were made by BCE in preparing its forward-looking statements contained in this news release, including, but not limited to the following:
Canadian Economic Assumptions
Our forward-looking statements are based on certain assumptions concerning the Canadian economy. As most public health restrictions in Canada have been lifted, pandemic-related effects on consumer caution and travel are assumed to continue to fade over 2022 and 2023. In particular, we have assumed:
- Slowing economic growth, given the Bank of Canada's most recent estimated growth in Canadian gross domestic product of 3.5% in 2022, representing a decrease from the earlier estimate of 4.25%
- Elevated consumer price index (CPI) inflation driven by sharp increases in energy and food prices as well as supply disruptions and strong demand for goods
- Tight labour market leading to rising wage growth
- Modest household consumption growth supported by the spending of some of the savings accumulated during the pandemic
- Business investment outside the oil and gas sector supported by solid demand, improved business confidence and a push to alleviate capacity constraints
- Higher interest rates
- Higher immigration
- The conflict between Russia and Ukraine affecting the Canadian economy through higher food and gasoline prices
- Canadian dollar expected to remain at or near current levels. Further movements may be impacted by the degree of strength of the U.S. dollar, interest rates and changes in commodity prices.
Canadian Market Assumptions
Our forward-looking statements also reflect various Canadian market assumptions. In particular, we have made the following market assumptions:
- A consistently high level of wireline and wireless competition in consumer, business and wholesale markets
- Higher, but slowing, wireless industry penetration
- A shrinking data and voice connectivity market as business customers migrate to lower-priced telecommunications solutions or alternative over-the-top (OTT) competitors
- While the advertising market continues to be adversely impacted by cancelled or delayed advertising campaigns from many sectors due to the economic downturn during the COVID-19 pandemic, we do expect gradual recovery in 2022
- Declines in broadcasting distribution undertaking (BDU) subscribers driven by increasing competition from the continued rollout of subscription video-on-demand (SVOD) streaming services together with further scaling of OTT aggregators
Assumptions Concerning our Bell Wireless Segment
Our forward-looking statements are also based on the following internal operational assumptions with respect to our Bell Wireless segment:
- Maintain our market share of national operators' wireless postpaid mobile phone net additions and growth of our prepaid subscriber base
- Continued strong competitive intensity and promotional activity across all regions and market segments
- Ongoing expansion and deployment of 5G and 5G+ wireless networks, offering competitive coverage and quality
- Continued diversification of our distribution strategy with a focus on expanding direct-to-consumer (DTC) and online transactions
- Growth in mobile phone blended ARPU, driven by growth in 5G subscriptions, and increased roaming revenue from the easing of travel restrictions implemented as a result of the COVID-19 pandemic, partly offset by reduced data overage revenue due to the continued adoption of unlimited plans
- Accelerating business customer adoption of advanced 5G, 5G+ and IoT solutions
- Improving wireless handset device availability in addition to stable device pricing and margins
- Realization of cost savings related to operational efficiencies enabled by changes in consumer behaviour, digital adoption, product and service enhancements, new call centre and digital investments and other improvements to the customer service experience
- No adverse material financial, operational or competitive consequences of changes in or implementation of regulations affecting our wireless business
Assumptions Concerning our Bell Wireline Segment
Our forward-looking statements are also based on the following internal operational assumptions with respect to our Bell Wireline segment:
- Further deployment of direct fibre to more homes and businesses within our wireline footprint
- Continued growth in retail Internet and IPTV subscribers
- Increasing wireless and Internet-based technological substitution
- Continued aggressive residential service bundle offers from cable TV competitors in our local wireline areas, moderated by growing our share of competitive residential service bundles
- Continued large business customer migration to IP-based systems
- Ongoing competitive repricing pressures in our business and wholesale markets
- Continued competitive intensity in our small and medium-sized business markets as cable operators and other telecommunications competitors continue to intensify their focus on business customers
- Traditional high-margin product categories challenged by large global cloud and OTT providers of business voice and data solutions expanding into Canada with on-demand services
- Accelerating customer adoption of OTT services resulting in downsizing of TV packages
- Growing consumption of OTT TV services and on-demand streaming video, as well as the proliferation of devices, such as tablets, that consume large quantities of bandwidth, will require ongoing capital investment
- Realization of cost savings related to operating efficiencies enabled by a growing direct fibre footprint, changes in consumer behaviour and product innovation, expanding self-serve capabilities, other improvements to the customer service experience, management workforce reductions including attrition and retirements, and lower contracted rates from our suppliers
- No adverse material financial, operational or competitive consequences of changes in or implementation of regulations affecting our wireline business
Assumptions Concerning our Bell Media Segment
Our forward-looking statements are also based on the following internal operational assumptions with respect to our Bell Media segment:
- Overall revenue expected to reflect continued scaling of our strategic audience management (SAM) TV and Bell demand-side-platform (DSP) buying platforms, a gradual recovery in advertising, as well as direct-to-consumer (DTC) subscriber growth
- Continued escalation of media content costs to secure quality programming, as well as the continued return to normal volumes of entertainment programming
- Continued scaling of Crave through broader content offering, user experience improvements and Crave Mobile
- Continued investment in Noovo original programming to better serve our French-language customers with a wider array of content on their preferred platforms
- Leveraging of first-party data to improve targeting, advertisement delivery and attribution
- Ability to successfully acquire and produce highly rated programming and differentiated content
- Building and maintaining strategic supply arrangements for content across all screens and platforms
- No adverse material financial, operational or competitive consequences of changes in or implementation of regulations affecting our media business
Financial Assumptions Concerning BCE
Our forward-looking statements are also based on the following internal financial assumptions with respect to BCE for 2022:
- An estimated post-employment benefit plans service cost of approximately $255 million
- An estimated net return on post-employment benefit plans of approximately $50 million, instead of $70 million
- Depreciation and amortization expense of approximately $4,700 million to $4,750 million
- Interest expense of approximately $1,075 million to $1,125 million
- Interest paid of approximately $1,125 million to $1,175 million
- An average effective tax rate of approximately 27%
- NCI of approximately $60 million
- Contributions to post-employment benefit plans of approximately $150 million, instead of $200 million
- Payments under other post-employment benefit plans of approximately $75 million
- Income taxes paid (net of refunds) of approximately $800 million to $900 million
- Weighted average number of BCE common shares outstanding of approximately 911 million
- An annual common share dividend of $3.68 per share
Assumptions underlying expected reductions in contributions to our defined benefit pension plans
Our forward-looking statements are also based on the following principal assumptions underlying expected reductions in contributions to our defined benefit pension plans:
- At the relevant time, our defined benefit (DB) pension plans will remain in funded positions with going concern surpluses and maintain solvency ratios that exceed the minimum legal requirements for a contribution holiday to be taken
- No significant declines in our DB pension plans' financial position due to declines in investment returns or interest rates
- No material experience losses from other unforeseen events such as through litigation or changes in laws, regulations or actuarial standards
Assumptions underlying our GHG emissions reduction targets
Our GHG emissions reduction targets are based on a number of assumptions including, without limitation, the following principal assumptions:
- Implementation of various corporate and business initiatives to reduce our electricity and fuel consumption, as well as reduce other direct and indirect GHG emissions enablers
- No new corporate initiatives, business acquisitions or technologies that would materially increase our anticipated levels of GHG emissions
- Our ability to purchase sufficient credible carbon credits and renewable energy certificates to offset or further reduce our GHG emissions, if and when required
- No negative impact on the calculation of our GHG emissions from refinements in or modifications to international standards or the methodology we use for the calculation of such GHG emissions
- No required changes to our SBTs pursuant to the SBTi methodology that would make the achievement of our updated SBTs more onerous
- Sufficient supplier engagement and collaboration in setting their own SBTs and sufficient collaboration with partners in reducing their own GHG emissions
The foregoing assumptions, although considered reasonable by BCE on August 4, 2022, may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations as set forth in this news release.
Material Risks
Important risk factors that could cause our assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in, or implied by, our forward-looking statements, including our 2022 financial guidance, are listed below. The realization of our forward-looking statements, including our ability to meet our 2022 financial guidance targets, essentially depends on our business performance, which, in turn, is subject to many risks. Accordingly, readers are cautioned that any of the following risks could have a material adverse effect on our forward-looking statements. These risks include, but are not limited to: the adverse effects of the COVID-19 pandemic, including from the restrictive measures implemented or to be implemented as a result thereof, and the adverse effects of the conflict between Russia and Ukraine, including from the economic sanctions imposed or to be imposed as a result thereof, and supply chain disruptions resulting therefrom; adverse economic and financial market conditions, including from the COVID-19 pandemic and the conflict between Russia and Ukraine; a declining level of retail and commercial activity, and the resulting negative impact on the demand for, and prices of, our products and services; the intensity of competitive activity including from new and emerging competitors; the level of technological substitution and the presence of alternative service providers contributing to disruptions and disintermediation in each of our business segments; changing customer behaviour and the expansion of OTT TV and other alternative service providers, as well as the fragmentation of, and changes in, the advertising market; rising content costs and challenges in our ability to acquire or develop key content; the proliferation of content piracy; higher Canadian smartphone penetration and reduced or slower immigration flow; regulatory initiatives, proceedings and decisions, government consultations and government positions that affect us and influence our business including, without limitation, concerning the conditions and prices at which access to our networks may be mandated and spectrum may be acquired in auctions; the inability to protect our physical and non-physical assets from events such as information security attacks, which risk may be exacerbated by the conflict between Russia and Ukraine, unauthorized access or entry, fire and natural disasters; the failure to implement effective data governance; the failure to evolve and transform our networks, systems and operations using next-generation technologies while lowering our cost structure; the inability to drive a positive customer experience; the failure to attract, develop and retain a diverse and talented team capable of furthering our strategic imperatives; labour disruptions and shortages; the failure to maintain operational networks; service interruptions or outages due to legacy infrastructure and the possibility of instability as we transition towards converged wireline and wireless networks; the failure by us, or by other telecommunications carriers on which we rely to provide services, to complete planned and sufficient testing, maintenance, replacement or upgrade of our or their networks, equipment and other facilities, which could disrupt our operations including through network failures; the risk that we may need to incur significant unplanned capital expenditures to provide additional capacity and reduce network congestion; the complexity of our operations; the failure to implement or maintain highly effective processes and information technology (IT) systems; events affecting the functionality of, and our ability to protect, test, maintain, replace and upgrade, our networks, IT systems, equipment and other facilities; in-orbit and other operational risks to which the satellites used to provide our satellite TV services are subject; our dependence on third-party suppliers, outsourcers, and consultants to provide an uninterrupted supply of the products and services we need; the failure of our vendor selection, governance and oversight processes, including our management of supplier risk in the areas of security, data governance and responsible procurement; the quality of our products and services and the extent to which they may be subject to defects or fail to comply with applicable government regulations and standards; the inability to access adequate sources of capital and generate sufficient cash flows from operating activities to meet our cash requirements, fund capital expenditures and provide for planned growth; uncertainty as to whether dividends will be declared by BCE's board of directors or whether the dividend on common shares will be increased; the inability to manage various credit, liquidity and market risks; new or higher taxes due to new tax laws or changes thereto or in the interpretation thereof, and the inability to predict the outcome of government audits; the failure to reduce costs, as well as unexpected increases in costs, and the inability to generate anticipated benefits from acquisitions and corporate restructurings; the failure to evolve practices to effectively monitor and control fraudulent activities; pension obligation volatility and increased contributions to post-employment benefit plans; unfavourable resolution of legal proceedings; the failure to develop and implement strong corporate governance practices and compliance frameworks and to comply with legal and regulatory obligations; the failure to recognize and adequately respond to climate change and other environmental concerns and expectations; pandemics, epidemics and other health risks, including health concerns about radio frequency emissions from wireless communications devices and equipment; the inability to adequately manage social issues; and internal factors, such as the failure to implement sufficient corporate and business initiatives, as well as various external factors which could challenge our ability to achieve our ESG targets including, without limitation, those related to GHG emissions reduction and diversity, equity and inclusion.
We caution that the foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results. We encourage investors to also read BCE's 2021 Annual MD&A dated March 3, 2022 (included in BCE's 2021 Annual Report) and BCE's 2022 First and Second Quarter MD&As dated May 4, 2022 and August 3, 2022, respectively, for additional information with respect to certain of these and other assumptions and risks, filed by BCE with the Canadian provincial securities regulatory authorities (available at Sedar.com) and with the U.S. Securities and Exchange Commission (available at SEC.gov). These documents are also available at BCE.ca.
About BCE
BCE is Canada's largest communications company, providing advanced Bell broadband wireless, Internet, TV, media and business communications services. To learn more, please visit Bell.ca or BCE.ca.
Through Bell for Better, we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities. This includes the Bell Let's Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day and significant Bell funding of community care and access, research and workplace initiatives throughout the country. To learn more, please visit Bell.ca/LetsTalk.
Media inquiries:
Marie-Eve Francoeur
514-391-5263
marie-eve.francoeur@bell.ca
Investor inquiries:
Thane Fotopoulos
514-870-4619
thane.fotopoulos@bell.ca
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SOURCE Bell Canada | https://www.wowt.com/prnewswire/2022/08/04/bce-reports-second-quarter-2022-results/ | 2022-08-04T11:32:29Z | https://www.wowt.com/prnewswire/2022/08/04/bce-reports-second-quarter-2022-results/ | false | 12 |
WASHINGTON (AP) — Republicans see inflation, taxes and immigration as Democratic weak spots worth attacking, and two opposition senators as prime targets, in the upcoming battle over an economic package the Democrats want to push through the Senate.
The measure embodies some of the top environment, energy, health care and tax policy aspirations that President Joe Biden and party leaders want to enact as voters start tuning in to this fall’s congressional elections. The GOP would like to derail or weaken the measure, or at least force Democrats to take votes that would be painful to defend in reelection campaigns.
Republicans are already aiming fire at Sen. Joe Manchin, D-W.Va., who crafted the measure with Senate Majority Leader Chuck Schumer, D-N.Y., and unexpectedly pumped life into an effort most Democrats considered moribund. Manchin is a conservative Democrat from a deep red state who has scuttled his party’s priorities before, and Republicans have savaged him in recent days, an unsubtle signal that they’ll be coming for him should he seek reelection in 2024.
“He made a terrible deal,” Senate Minority Leader Mitch McConnell, R-Ky., told reporters this week. “How he can defend this from a West Virginia point of view, or think of it as a centrist type of agreement, is astonishing. This is an agreement only Bernie Sanders would love.”
Even Sen. Shelley Moore Capito, R-W.Va., who has a strong relationship with Manchin and seldom clashes with him publicly, lambasted the legislation for imposing a minimum tax on huge, profitable corporations that she said would hinder investments. “Like many West Virginians, I’m concerned that this tax increase will delay closing the digital divide” in rural communities, she said.
Republicans are taking a softer approach with Sen. Kyrsten Sinema, D-Ariz., who has been coy about the legislation and has shown concerns about tax increases. She’s her party’s biggest question mark on this bill in the 50-50 chamber, where all Republicans seem certain to vote “no,” and she’s held several discussions with GOP senators during votes this week.
Sinema has opposed past proposals to raise taxes on wealthy equity firm executives, which this time would raise around $14 billion of this legislation’s $739 billion in revenue. She met with Arizona manufacturers who oppose boosting the corporate minimum tax and thanked her afterward in a tweet for her “thoughtful approach & willingness to listen to AZ job creators.”
“I don’t know what she thinks,” Idaho Sen. Mike Crapo, top Republican on the Senate Finance Committee, told reporters. “’We are making our case’ is the best we can say.”
The 10-year measure includes hundreds of billions in spending and tax breaks to encourage alternative energy production and to bolster fossil fuels with steps like tax breaks for technology that reduces carbon emissions. There’s also money to help people buy private health coverage, and provisions giving Medicare the power to negotiate prices on some drugs with pharmaceutical makers.
The bill “will lower costs, fight inflation, and secure historic wins in the fight against climate change,” Schumer said.
The GOP seems certain to try stripping or toning down the corporate minimum tax and language raising taxes on wealthy equity firm executives as well, and has hopes of winning over Sinema as the decisive vote for that. After she opposed Democrats’ proposed tax rate increases last year on corporations and high earners, they switched to a corporate minimum tax that she supported, but it is uncertain if she will do so now.
Republicans could fashion amendments aimed at particular Democratic senators — such as one exempting coal producers from certain taxes in a play for Manchin.
To buttress its argument, the GOP released an analysis by the nonpartisan Joint Committee on Taxation that Republicans said showed tax boosts for people earning below $400,000. That would violate Biden’s pledge to not boost levies on that income group.
“Ordinary Americans would bear a substantial part of the burden of this tax increase,” said No. 2 Senate GOP leader John Thune of South Dakota.
Democrats dismissed that attack, noting that the study omitted the effect of the bill’s health care and energy tax breaks for individuals. It also counted lower salaries, stock prices and dividends it believes will occur as part of the effect the bill would have on people.
Overall, the Congressional Budget Office said Wednesday the measure could trim federal deficits by around $305 billion. But $204 billion of that would come from improving IRS tax collections, which will be real if it occurs but the nonpartisan agency does not count in its formal scoring of the bill’s impact.
In a bow to dominant voter concerns about gasoline prices and overall consumer costs, Democrats call the bill the Inflation Reduction Act. Yet its impact on the nation’s worst bout with inflation in four decades seems likely to be limited.
The University of Pennsylvania’s Penn Wharton Budget Model estimated the measure would “very slightly increase inflation until 2024 and decrease inflation thereafter,” though the changes would be “statistically indistinguishable from zero.” McConnell said that study showed the Democrats’ bill would “actually increase inflation in the short term and do nothing for inflation in the long term.”
Democrats have cited a Moody’s Analytics report saying the bill would “nudge the economy and inflation in the right direction.” And they distributed a letter by five former Treasury secretaries, including Henry Paulson Jr., who served under GOP President George W. Bush, saying the measure would strengthen the economy, “lower costs for families and fight inflation.”
That battlefield suggests Republican amendments are likely on the subject of prices. One could imagine a proposal preventing the bill from taking effect unless inflation, or gasoline prices, fall to certain levels. Democratic leaders are trying this week to unify rank-and-file senators against such plans.
The GOP could also try to renew immigration restrictions imposed by President Donald Trump that cited the pandemic as a reason to exclude migrants, an issue that sharply divides Democrats. And they might seek to delete tax credits aimed at encouraging alternative energy and that favor companies that pay union-scale wages.
___
AP reporter Seung Min Kim contributed to this report. | https://www.wearecentralpa.com/us-politics/gop-targets-for-dem-bill-inflation-taxes-manchin-sinema/ | 2022-08-04T11:34:02Z | https://www.wearecentralpa.com/us-politics/gop-targets-for-dem-bill-inflation-taxes-manchin-sinema/ | true | 35 |
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Volta Inc. Changes to Beneficial Ownership: Tough John J. (Director) (Form4)
Accepted:
Form Type:
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Accession Number:
0001209191-22-043923 | https://www.benzinga.com/secfilings/22/08/28321379/volta-inc-changes-to-beneficial-ownership-tough-john-j-director-form4 | 2022-08-04T11:34:23Z | https://www.benzinga.com/secfilings/22/08/28321379/volta-inc-changes-to-beneficial-ownership-tough-john-j-director-form4 | true | 254241 |
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