text
stringlengths 102
112k
| url
stringlengths 37
240
| crawl_date
timestamp[us, tz=UTC]date 2024-01-04 00:15:18
2024-01-31 23:10:45
| exclusion_reason
stringclasses 1
value |
|---|---|---|---|
Hologic, Inc. (HOLX - Free Report) is well-poised for growth in the coming quarters, backed by revenue growth with recovery in procedural volumes and acceleration from new business lines. The company’s Breast Health segment continues to deliver strong growth, driven by higher capital equipment revenues. Foreign exchange woes and stiff rivalry impede HOLX’s growth.
In the past six months, this Zacks Rank #3 (Hold) stock has declined 2.2% compared with the 0.1% fall of the industry and a 8.5% rise of the S&P 500.
The renowned medical device company has a market capitalization of $17.59 billion. Hologic surpassed earnings estimates in all the trailing four quarters, delivering an average surprise of 12.43%.
Let’s delve deeper.
Factors at Play
Strength in Breast Health: Hologic has been making impressive progress in the Breast Health arm recently, leveraging its strategic expansion efforts to diversify business across the patient continuum of care.
In the fourth quarter of fiscal 2023, the Breast Health arm registered strong growth. The recovery in its gantry business primarily drove the upside. Interventional Breast increased in the low double digits. Further, higher Trident systems unit sales and higher Faxitron breast-conserving surgery products supported growth. The increase in volume was driven by the improvement in supply chain constraints related to electronic components, primarily semiconductor chips.
Strength in GYN Surgical: GYN Surgical’s growth continues to be driven by strong contributions from a hysteroscopic portfolio of MyoSure, the Fluent fluid management system and NovaSure. The company is encouraged by the strong performance of its latest NovaSure iteration, the NovaSure V5. The laparoscopic portfolio continues to build momentum and is growing into a larger driver for the division.
Image Source: Zacks Investment Research
In terms of the latest developments, internationally, the Surgical business continues to register strong growth. In the fiscal 2023, Hologic’s international Surgical growth rate was more than double the U.S. growth rate.
Focus on International Operations: Hologic’s global expansion is a critical element of its growth strategy over the long term. The company is making significant efforts to enter new geographies as many of its best-in-class products command a leading share in the domestic market.
The company’s international sales have been a major catalyst in the past few years, with the major driver being the molecular diagnostics business. Hologic is increasingly focused on commercial infrastructure. The company has been progressing with respect to the placement of Panther instruments across the globe.
Downsides
Foreign Exchange Headwinds: We are apprehensive about the significant challenges Hologic faced owing to the unfavorable impact of foreign currency that has been affecting the company’s overall performance in the past few quarters. The company’s international sales are often denominated in foreign currencies, including the Euro, U.K. Pound and Renminbi. Changes in currency exchange rates, particularly the increase in the value of the dollar against any such foreign currencies, may reduce the reported value of Hologic’s revenues outside the United States and associated cash flows.
Competitive Landscape: Hologic operates in a highly-competitive industry. Its mammography, related products and subsystems compete on a worldwide basis with products offered by a number of competitors, including General Electric Company (GE), Siemens, Koninklijke Philips NV, or Philips, Planmed Oy, or Planmed, Agfa-Gevaert N.V., or Agfa, Carestream Health, Inc., FUJIFILM Holdings Corporation, or Fuji, I.M.S., and Toshiba Corporation.
Estimate Trends
In the past 90 days, the Zacks Consensus Estimate for Hologic’s fiscal 2024 earnings has moved up from $3.99 per share to $4.00.
The Zacks Consensus Estimate for HOLX’s fiscal 2024 revenues is pegged at $3.99 billion, suggesting a 1.1% fall from the year-ago reported number.
Key Picks
Some better-ranked stocks to consider in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Acadia Healthcare (ACHC - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UHS’ shares have inched up 6.5% in the past year compared with the industry’s 11.8% rise.
Integer Holdings, presently carrying a Zacks Rank of 2, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 54.8% in the past year against the industry’s 3.5% decline.
Acadia Healthcare, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.4%. ACHC’s long-term earnings are expected to grow at 11.2%.
Acadia Healthcare’s shares have gained 7.5% in the past six months compared with the industry’s rise of 5.5%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Universal Health Services, Inc. (UHS) - free report >>
Hologic, Inc. (HOLX) - free report >>
|
https://www.zacks.com/stock/news/2218881/heres-why-you-should-retain-hologic-holx-stock-for-now
| 2024-01-31T17:08:52Z
|
blocked_url
|
MPLX LP (MPLX - Free Report) reported fourth-quarter earnings of $1.10 per unit, which beat the Zacks Consensus estimate of 95 cents. The bottom line also increased from the year-ago quarter’s 78 cents.
Total quarterly revenues of $2.97 billion surpassed the Zacks Consensus Estimate of $2.94 million and increased from the prior-year quarter’s $2.66 billion.
Strong quarterly results were primarily driven by higher contributions from both segments. A decline in total costs and expenses also contributed to the solid quarterly performance.
Segmental Highlights
MPLX’s adjusted EBITDA from the Logistics and Storage segment increased to $1.09 billion from $979 million a year ago. Increased rates and growth in throughput aided the segment. Total pipeline throughputs in the fourth quarter were 5.8 million barrels per day, up 3% from the year-ago period.
Adjusted EBITDA from the Gathering and Processing segment totaled $534 million, up from $475 million in the prior-year quarter. The segment was favored by increased gathering and processing throughput volumes. Gathering throughput volumes averaged 6.3 billion cubic feet per day (Bcf/d), implying a marginal 1% improvement from the year-ago period’s level. Natural gas processed volumes of 9.4 Bcf/d marked a 9% increase year over year.
Costs and Expenses
In fourth-quarter 2023, MPLX’s total costs and expenses were $1.59 billion, down from the year-ago quarter’s $1.6 billion. The decline in total costs and expenses can be attributed to lower operating expenses (including purchased product costs).
Cash Flow
Distributable cash flow in the quarter totaled $1.38 billion, providing 1.6X distribution coverage, up from $1.27 billion in the year-ago quarter.
Adjusted free cash flow in the quarter under review declined to $964 million from $1.09 billion in the corresponding period of 2022.
Balance Sheet
As of Dec 31, 2023, the partnership’s cash and cash equivalents were $1.05 billion. Its total debt amounted to $20.4 billion.
Outlook
For 2024, MPLX stated its capital spending outlook of $1.1 billion, which includes $950 million of growth capital and $150 million of maintenance capital. The metric indicates an increase from the $838 million reported in 2023.
Zacks Rank & Stocks to Consider
MPLX currently carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked companies mentioned below. The three companies presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Vaalco Energy (EGY - Free Report) is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas.
The Zacks Consensus Estimate for EGY’s 2024 EPS is pegged at $1.49. It has witnessed upward earnings estimate revisions for 2024 in the past 60 days. EGY’s earnings for 2024 are expected to surge 325.7% year over year.
Subsea 7 S.A. (SUBCY - Free Report) helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore.
The Zacks Consensus Estimate for SUBCY’s 2024 EPS is pegged at 89 cents. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days. The company’s earnings for 2024 are expected to soar 242.3% year over year.
Oceaneering International, Inc. (OII - Free Report) is one of the leading suppliers of offshore equipment and technology solutions to the energy industry.
The Zacks Consensus Estimate for OII’s 2024 EPS is pegged at $1.52. It has a Zacks Style Score of A for Growth and B for Value. OII’s earnings for 2024 are expected to surge 76.4% year over year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Oceaneering International, Inc. (OII) - free report >>
Vaalco Energy Inc (EGY) - free report >>
|
https://www.zacks.com/stock/news/2218882/mplx-beats-q4-earnings-estimates-hikes-24-capex-budget
| 2024-01-31T17:08:58Z
|
blocked_url
|
Mondelez International, Inc. (MDLZ - Free Report) delivered robust fourth-quarter 2023 results, with the top and the bottom line increased year over year and came ahead of the respective Zacks Consensus Estimate.
Robust results reflect the strength of the company’s categories, brands and geographies. MDLZ witnessed solid revenue and profit growth across all regions. Continuous reinvestments in its brands and capabilities — along with impressive portfolio reshaping efforts — place Mondelez well for future growth. In this regard, the company recently concluded the sales of the developed market gum business for $1.4 billion.
Quarter in Detail
Adjusted earnings were 84 cents per share, increasing 23.5% on a constant-currency (cc) basis. The metric surpassed the Zacks Consensus Estimate of 78 cents per share. The upside was mainly backed by solid operating gains and reduced taxes and interest expenses. Also, the reduced number of shares outstanding was an upside. However, decreased benefit plan non-service income was a headwind.
Net revenues advanced 7.1% year over year to $9,314 million. The metric beat the Zacks Consensus Estimate of $9,300.3 million. The uptick was driven by strong organic net revenue growth of 9.8% and increased sales from Ricolino and a short-term distributor agreement. These were somewhat offset by adverse currency rates and the impact of a divestiture. Our model suggested organic net revenue growth of 7.8% in the fourth quarter.
Favorable pricing actions (up 10.2 percentage points or pp) aided organic net revenue growth, somewhat offset by unfavorable volume/mix (down 0.4 pp). Our model suggested a pricing increase of 7.9% and a volume decrease of 0.1% for the fourth quarter.
Revenues from emerging markets increased 7.8% to $3,580 million while rising 14.9% on an organic basis. The upside can be attributed to gains from countries like Brazil, China, India, Mexico and the Western Andean. Revenues from developed markets moved up 6.7% to $5,734 million while increasing 6.6% on an organic basis, reflecting robust growth from the United States and Europe. We had expected a year-over-year net revenue increase from emerging markets and developed markets of 6.8% and 3.9%, respectively.
Region-wise, revenues in Latin America, Asia, the Middle East & Africa and Europe increased 24.5%, 4.5% and 10.2%, respectively. In the North America regions, revenues dropped 1.1%. On an organic basis, revenues increased 28.6%, 7.9%, 11.6% and 1.9% in Latin America, Asia, the Middle East & Africa, Europe and North America, respectively.
The adjusted gross profit increased by $531 million at cc. The adjusted gross profit margin expanded 230 bps to 38% on the back of pricing and reduced manufacturing expenses. These were somewhat offset by increased raw material and transportation costs.
Mondelez’s adjusted operating income increased $153 million at cc while the adjusted operating income margin expanded 40 bps to 15.1%. The upside can mainly be attributed to increased net pricing and reduced manufacturing costs. These were somewhat offset by input cost inflation, increased SG&A and advertising as well as consumer promotion costs.
Image Source: Zacks Investment Research
Other Financials
The company ended the quarter with cash and cash equivalents of $1,810 million, long-term debt of $16,887 million and total equity of $28,366 million. MDLZ provided $4,714 million of net cash from operating activities for 12-months ended Dec 31, 2023. Adjusted free cash flow was $3,602 million for the same period. Management expects a free cash flow of more than $3.5 billion for 2024.
The company returned $1.5 billion to shareholders in cash dividends and share repurchases during the reported quarter.
Guidance
Mondelez expects 2024 organic net revenue growth in the upper range of 3-5%. Management anticipates seeing higher pricing in various markets with notable chocolate portfolios like Europe.
The company envisions high single-digit adjusted earnings per share (EPS) growth on a cc basis. Currency movements are likely to affect net revenues by nearly 0.5% and adjusted EPS by 3 cents in 2024.
For 2024, it expects inflation to increase by a high single digit, thanks to escalated cocoa and sugar prices as well as higher labor costs. Interest expenses are expected to be around $325 million in 2024.
Shares of this Zacks Rank #3 (Hold) company have increased 10.3% in the past three months compared with the industry’s growth of 11.1%.
3 Appetizing Food Bets
Ingredion Incorporated (INGR - Free Report) , which produces and sells sweeteners, starches, nutrition ingredients and biomaterial solutions, carries a Zacks Rank #2 (Buy). INGR delivered a positive earnings surprise of 23.9% in the last reported quarter. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The Zacks Consensus Estimate for Ingredion Incorporated’s current financial-year sales and earnings suggests growth of around 5% and 24.8%, respectively, from the year-ago reported numbers.
Flowers Food (FLO - Free Report) produces and markets packaged bakery food products. FLO currently has a Zacks Rank #2. Flowers Food has a trailing four-quarter earnings surprise of 6.8%, on average.
The Zacks Consensus Estimate for FLO’s current financial-year sales suggests growth of 5.9% from the year-ago reported figure.
Lamb Weston (LW - Free Report) , which offers frozen potato products, currently carries a Zacks Rank #2. LW delivered an earnings surprise of 3.6% in the last reported quarter.
The Zacks Consensus Estimate for Lamb Weston’s current financial-year sales and earnings implies growth of 28.3% and 26.9%, respectively, from the year-ago reported numbers.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Flowers Foods, Inc. (FLO) - free report >>
Ingredion Incorporated (INGR) - free report >>
|
https://www.zacks.com/stock/news/2218883/mondelez-mdlz-q4-earnings-revenues-beat-increase-yy?-revenues-beat,-increase-y/y
| 2024-01-31T17:09:04Z
|
blocked_url
|
BankFinancial (BFIN - Free Report) came out with quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -19.05%. A quarter ago, it was expected that this bank holding company would post earnings of $0.19 per share when it actually produced earnings of $0.19, delivering no surprise.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
BankFinancial
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
BankFinancial shares have added about 8.4% since the beginning of the year versus the S&P 500's gain of 3.3%.
What's Next for BankFinancial?
While BankFinancial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for BankFinancial: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.21 on $14.2 million in revenues for the coming quarter and $0.87 on $59.05 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Savings and Loan is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Finance sector, Iron Mountain (IRM - Free Report) , is yet to report results for the quarter ended December 2023.
This real estate investment trust is expected to post quarterly earnings of $1.06 per share in its upcoming report, which represents a year-over-year change of +8.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Iron Mountain's revenues are expected to be $1.45 billion, up 13.7% from the year-ago quarter.
|
https://www.zacks.com/stock/news/2218884/bankfinancial-bfin-misses-q4-earnings-and-revenue-estimates
| 2024-01-31T17:09:10Z
|
blocked_url
|
Diageo plc (DEO - Free Report) reported interim results for the first half of fiscal 2024, ended Dec 31, 2023, wherein pre-exceptional earnings per share declined 7.1% year over year to $1.081. This was backed by soft sales, lower organic operating profit and higher finance charges, offset by reduced taxes, higher income from associates and joint ventures, and the impacts of share buybacks.
On a reported basis, net sales declined 1.4% year over year, driven by unfavorable currency impacts and an organic sales decline. Organic net sales were down 0.6% year over year due to a dip in Latin America and the Caribbean (“LAC”). The decline in LAC was driven by a 23.5% decrease in organic net sales due to lower consumption and reduced consumer demand from macroeconomic pressures in the region.
Excluding LAC, net sales grew 0.7% and organic net sales grew 2.5%, driven by strong growth in Europe, Asia Pacific and Africa, offset by a decline in North America.
The company notes that it is on track to deliver on its medium-term guidance for fiscal 2023-2025, wherein it targets organic sales growth of 5-7% and organic operating profit growth of 6-9%.
Shares of the Zacks Rank #3 (Hold) company have declined 6.4% in the past six months against the industry’s growth of 2.8%.
Image Source: Zacks Investment Research
1H24 Highlights
Organic volume declined 5.2% year over year. Price/mix grew 4.6% year over year, driven by growth across all regions, except for LAC. Price contribution to organic net sales was in the low to mid-single digits, driven by price increases, which helped mitigate the impacts of cost inflation and protect margins.
In North America, Diageo’s largest market, sales declined 2% year over year on both reported and organic basis due to weaker organic performances in U.S. Spirits and Canada, partially offset by growth from Diageo Beer Company. Additionally, net sales declined 12% in Africa and 18% in LAC. On a year-over-year basis, DEO witnessed net sales growth of 10% in Europe and 2% in the Asia Pacific.
The reported operating profit declined 11.1% year over year due to lower organic operating profit and the positive impacts of currency rates. The reported operating margin contracted 329 basis points (bps) on a lower organic operating margin and negative impacts of exceptional operating items.
Organic operating profit fell 5.4% year over year, with the organic operating margin contracting 167 bps due to weakness in LAC. Excluding LAC, the organic operating margin declined 53 bps, driven by higher marketing expenses, offset by the favorable impacts of other operating items and a positive gross margin.
The company earned an additional $335 million of productivity cost savings in cost of goods, marketing and overheads in the first half of fiscal 2024. It remains on track to surpass its three-year productivity savings target of $1.5 billion by the end of fiscal 2024.
Financials
At the end of the first half of fiscal 2024, Diageo delivered net cash from operating activities of $2,146 million. DEO reported a strong free cash flow of $1,462 million, driven by disciplined working capital management and the positive impacts of lapping one-time cash tax payments from the prior year.
Diageo is committed to its disciplined approach to capital allocation, primarily to enhance its shareholder value. DEO increased the interim dividend 5% to 40.50 cents per share. This reflects its strong liquidity position and confidence in the long-term health of its business. In the first half of fiscal 2024, the company returned $0.5 billion to shareholders through share buybacks under its buyback plan to repurchase up to $1 billion in fiscal 2024.
For fiscal 2024, the company expects capital expenditure of $1.3-$1.5 billion. It anticipates cash flow to increase on an organic basis in the second half of fiscal 2024.
FY24 Outlook
The company expects the organic net sales growth rate in the second half of fiscal 2024 to steadily improve from the growth rate in the first half.
In North America, Diageo expects organic net sales to improve gradually in the second half of fiscal 2024. The company anticipates the macroeconomic pressures in LAC to persist in the second half of fiscal 2024, which is likely to continue impacting inventory levels. Consequently, DEO expects organic net sales in LAC to decline 10-20% in the second half of fiscal 2024 from the second half of fiscal 2023. However, the company expects to finish fiscal 2024 with a more appropriate level of inventory for the current consumer environment.
In Europe, Asia Pacific and Africa, Diageo anticipates continued net sales growth in the second half of fiscal 2024.
The company estimates the tax rate before pre-exceptional items to be 23% in fiscal 2024, driven by the profit mix.
Looking for Solid Stocks? Check These
We highlighted three better-ranked companies in the Consumer Staples sector, namely The Boston Beer Company (SAM - Free Report) , The Coca-Cola Company (KO - Free Report) and Ingredion (INGR - Free Report) .
Boston Beer is one of the largest craft brewers in the United States. It presently flaunts a Zacks Rank #1 (Strong Buy). SAM has risen 8.1% in the past three months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Boston Beer’s EPS for the current financial year suggests growth of 4% from the year-ago levels. SAM has a trailing four-quarter negative earnings surprise of 77.7%, on average.
Coca-Cola, a global beverage giant, presently has a Zacks Rank of 2 (Buy). KO has a trailing four-quarter earnings surprise of 5.1%, on average. KO shares have gained 6.1% in the past three months.
The Zacks Consensus Estimate for Coca-Cola’s sales and EPS for the current financial year suggests respective growth of 5.7% and 8.1% from the year-ago period’s reported figures.
Ingredion, an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients, presently has a Zacks Rank #2. INGR shares have rallied 17.4% in the past three months.
The Zacks Consensus Estimate for Ingredion’s sales and earnings for the current financial year suggests growth of 5% and 24.8%, respectively, from the year-ago period’s reported figure. INGR has an earnings surprise of 23.9% in the trailing four quarters, on average.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
CocaCola Company (The) (KO) - free report >>
Diageo plc (DEO) - free report >>
|
https://www.zacks.com/stock/news/2218885/diageo-deo-1h24-sales-earnings-decline-yy-view-bleak?-earnings-decline-y/y,-view-bleak
| 2024-01-31T17:09:17Z
|
blocked_url
|
Artisan Partners Asset Management Inc. (APAM - Free Report) reported fourth-quarter 2023 adjusted net income per adjusted share of 78 cents, meeting the Zacks Consensus Estimate. The bottom line increased 20% year over year.
Results benefited from a rise in management fees earned from Artisan Funds & Artisan Global Funds and Separate accounts, which resulted in top-line growth. Balance sheet position and assets under management (AUM) balance improved in the reported quarter. However, elevated operating expenses were the undermining factors.
Net income attributable to Artisan Partners (GAAP basis) was $64.8 million, up from $52.9 million in the prior-year quarter.
In 2023, adjusted net income per adjusted share was $2.89, beating the Zacks Consensus Estimate of $2.88 but declining 7.1% year over year. Net income attributable to Artisan Partners (GAAP basis) was $222.3 million, up from $206.8 million in 2022.
Revenues & Expenses Rise
Fourth-quarter revenues were $249 million, which rose 10.2% year over year. The top line also outpaced the Zacks Consensus Estimate of $243.8 million.
In 2023, revenues fell 1.8% to $975.1 billion. The top line, nonetheless, surpassed the consensus estimate of $969.9 million.
Management fees earned from Artisan Funds & Artisan Global Funds increased 11% year over year to $153.7 million. Management fees earned from Separate accounts grew 4.5% to $91.2 million. We anticipated management fees earned from Artisan Funds & Artisan Global Funds and Separate accounts to be $151.3 million and $92.4 million, respectively.
Total operating expenses was $172.6 million, up 10.6% year over year. The rise was due to an increase in all components of operating expenses except operating costs. We projected operating expenses to be $171.1 million.
Operating income was $76.4 million, up 9.1% year over year. We expected the metric to be $72.7 million.
AUM Balance Rises
As of Dec 31, 2023, the ending AUM was $150.2 billion, up 10% from the previous quarter primarily due to investment returns partially offset by net client cash outflows. We estimated the metric to be $149.6 billion.
Average AUM totaled $140.3 billion, down 1% from the prior quarter. We suggested the metric to be $143 billion.
Balance Sheet Position Improves
Cash and cash equivalents were $141 million compared with $114.8 million as of Dec 31, 2022. Artisan Partners’ debt leverage ratio, calculated in accordance with its loan agreements, was 0.6x as of Dec 31, 2023.
Dividend Update
The company’s board of directors declared a variable fourth-quarter dividend of 68 cents per share of Class A common stock and a special dividend of 34 cents per share. The total amount will be paid out on Feb 29 to shareholders of record as of Feb 15.
Our Take
A challenging operating backdrop and several geopolitical concerns may reduce the company’s AUM in the upcoming period. A volatile trend in net outflows over the past years keeps us apprehensive.
Nonetheless, a manageable expense level and decent liquidity position are expected to support financials. Also, diverse investment strategies across multiple asset classes, and investments in new teams and operational capabilities are likely to drive revenues in the upcoming period.
Currently, Artisan Partners sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Performance of Other Asset Managers
BlackRock, Inc.’s (BLK - Free Report) fourth-quarter 2023 adjusted earnings of $9.66 per share handily surpassed the Zacks Consensus Estimate of $8.84. The figure reflects an increase of 8.2% year over year.
BLK’s quarterly results benefited from a rise in revenues and higher non-operating income. Further, AUM balance witnessed an improvement owing to net inflows. However, higher expenses acted as dampeners.
Invesco’s (IVZ - Free Report) fourth-quarter 2023 adjusted earnings of 47 cents per share handily surpassed the Zacks Consensus Estimate of 38 cents. The bottom line grew 20.5% year over year.
Results benefited from an increase in AUM balance on decent inflows. However, a rise in operating expenses and lower revenues were the undermining factors.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
BlackRock, Inc. (BLK) - free report >>
Invesco Ltd. (IVZ) - free report >>
Artisan Partners Asset Management Inc. (APAM) - free report >>
|
https://www.zacks.com/stock/news/2218886/artisan-partners-apam-q4-earnings-meet-estimates-aum-rises
| 2024-01-31T17:09:26Z
|
blocked_url
|
Regeneron Pharmaceuticals, Inc. (REGN - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 2, before the opening bell.
The company has an impressive track record, with an earnings beat in each of the last four quarters. In the last reported quarter, it beat earnings expectations by 7.31%. REGN surpassed earnings estimates by 12.34%, on average.
Factors to Note
A significant chunk of Regeneron’s revenues comes from the sales of its lead drug, Eylea, which is approved for various ophthalmology indications (neovascular age-related macular degeneration, diabetic macular edema [“DME”] and macular edema, among others). Eylea was developed in collaboration with Bayer AG.
Regeneron records net product sales of Eylea in the United States, while Bayer records net product sales of the drug outside the country. Regeneron also records its share of profits/losses in connection with Eylea sales outside the United States.
Earlier this month, Regeneron announced that Eylea sales came in at $1.34 billion in the United States and Eylea HD sales came in at $123 million in the fourth quarter of 2023. This was the first full quarter for Eylea HD following its launch.
Eylea’s sales have been under pressure in the last few quarters due to competition from Avastin and Vabysmo and sale deductions.
In August 2023, the FDA finally approved aflibercept 8 mg for the treatment of patients with wet age-related macular degeneration, DME and diabetic retinopathy under the brand name Eylea HD.
Apart from Eylea, investors will focus on the asthma drug Dupixent’s performance, sales of which are recorded by Sanofi (SNY - Free Report) . Regeneron has a collaboration agreement with Sanofi for drugs like Dupixent and Kevzara.
While Sanofi records sales, Regeneron records its share of profits/losses in connection with the global sales of Dupixent and Kevzara. Profits from Dupixent sales have been REGN’s primary growth driver in the last few quarters. Per Sanofi, Dupixent is expected to cross the €10 billion mark in 2023 on a reported basis.
Dupixent has maintained its stellar performance, driven by continued strong demand in the approved indications, including atopic dermatitis, asthma, chronic rhinosinusitis with nasal polyposis, eosinophilic esophagitis and prurigo nodularis. The label expansion of the drug in the past few months has boosted sales further and is likely to have resulted in incremental revenues in the fourth quarter. Hence, Regeneron is expected to have recorded incremental profits in the yet-to-be-reported quarter.
Investors will focus on the performance of Libtayo and the PCSK9 inhibitor Praluent. Effective Jul 1, 2022, Regeneron started recording net product sales of Libtayo and pays Sanofi a royalty on such sales. Increased sales of Libtayo for non-melanoma skin indications, coupled with increased utilization in both monotherapy and chemotherapy combination settings in lung cancer, have most likely boosted the top line. The Zacks Consensus Estimate for Libtayo’s sales is pegged at $216 million.
Regeneron records net product sales of Praluent in the United States. Sanofi records net product sales of the drug outside the United States and pays Regeneron a royalty on such sales.
Recent Updates
Regeneron and partner Sanofi recently announced that the FDA has approved Dupixent for the treatment of pediatric patients aged 1 to 11 years, weighing at least 15 kg, with eosinophilic esophagitis.
Regeneron announced that it will assume full development and commercialization rights for 2seventy bio’s preclinical and clinical stage cell therapy pipeline. The company also announced the formation of Regeneron Cell Medicine for this acquisition to advance the next generation of cell therapies and to explore combinations with Regeneron’s proprietary antibodies and bispecifics.
Share Price Performance
Regeneron’s shares have gained 29.9% in the past six months compared with the industry’s rise of 2.4%.
Image Source: Zacks Investment Research
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for Regeneron this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Earnings ESP for REGN is -3.28%, as the Zacks Consensus Estimate is currently pegged at $10.46 per share and the Most Accurate Estimate is pegged at $10.12 per share. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks to Consider
Here are some drug/biotech stocks that you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat this season.
Sarepta Therapeutics (SRPT - Free Report) has an Earnings ESP of +52.45% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
SRPT topped earnings estimates in each of the last four quarters, with an earnings surprise of 48.67%, on average. Shares of Sarepta have gained 10.8% in the past six months.
Amgen (AMGN - Free Report) has an Earnings ESP of +1.01% and a Zacks Rank #3.
Amgen beat earnings estimates in each of the trailing four quarters. AMGN delivered an earnings surprise of 6.04%, on average. Its shares have surged 35.6% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Regeneron Pharmaceuticals, Inc. (REGN) - free report >>
|
https://www.zacks.com/stock/news/2218887/regeneron-regn-to-report-q4-earnings-whats-in-the-cards?
| 2024-01-31T17:09:33Z
|
blocked_url
|
Roper Technologies’ (ROP - Free Report) fourth-quarter 2023 adjusted earnings of $4.34 per share beat the Zacks Consensus Estimate of $4.33. On a year-over-year basis, earnings increased 11%.
Roper’s net revenues of $1,613.5 million beat the consensus estimate of $1,575 million. The top line increased 12.8% year over year. Organic sales in the quarter increased 8% year over year, owing to strength across the three segments. Acquisitions boosted sales by 4%.
Segmental Performance
Roper divested its Process Technologies segment and industrial units of the Measurement & Analytical Solutions segment. Beginning the second quarter of 2022, the company started reporting under three segments — Application Software, Network Software and Technology Enabled Products.
Application Software’s revenues totaled $851.8 million, representing 52.8% of the quarter’s top line. Our top-line estimate for the quarter was $815.6 million. On a year-over-year basis, the segment’s revenues increased 15%. Organic sales in the quarter increased 7%.
Network Software & Systems generated revenues of $362.7 million, accounting for 22.5% of fourth-quarter revenues. Our top-line estimate for the quarter was $366.1 million. Segmental revenues grew 3% year over year. Organic sales in the quarter increased 3%.
The Technology Enabled Products segment generated revenues of $399.0 million, accounting for 24.7% of the quarter’s revenues. Our top-line estimate for the quarter was $381.5 million. Sales were up 17% year over year. Organic sales in the quarter grew 17%.
Margin Profile
In the reported quarter, Roper’s cost of sales increased 13.9% year over year to $488.3 million. Gross profit in the quarter grew 12.3% to $1,125.2 million while the gross margin decreased to 69.7% from 70% in the year-ago quarter.
Selling, general and administrative expenses increased 12.3% to $662.4 million. Adjusted EBITDA was $659 million, indicating year-over-year growth of 11.3%. The margin decreased 60 basis points to 40.8%. Interest expenses decreased 6.9% year over year to $50.1 million.
Balance Sheet & Cash Flow
Exiting 2023, Roper had cash and cash equivalents of $214.3 million compared with $792.8 million at the end of December 2022. Long-term debt (net of current portion) was $5,830.6 million compared with $5,962.5 million at the end of the fourth quarter of 2022.
Roper generated net cash of $2,035.1 million from operating activities in 2023, indicating an increase of 177% from the year-ago level. Capital expenditure totaled $68 million compared with $40.1 million in the year-ago quarter.
In 2023, ROP rewarded its shareholders with a dividend payment of $290.2 million, up 10.6% year over year.
Outlook
ROP predicts adjusted earnings per share (EPS) from continuing operations to be in the $17.85-$18.15 range. The mid-point of the guided range — $18 per share — lies above the Zacks Consensus Estimate of earnings of $17.96 per share. Total revenues are expected to increase 11-12% and organic revenues are anticipated to increase 5-6% in 2024 from the year-ago reported numbers.
For the first quarter, Roper anticipates adjusted EPS to be in the band of $4.30-$4.34. The consensus estimate for the same is pegged at $4.28.
Zacks Rank & Other Stocks to Consider
Roper currently carries a Zacks Rank #2 (Buy). Some other top-ranked companies from the Computer and Technology sector have been discussed below.
ACM Research, Inc. (ACMR - Free Report) presently carries a Zacks Rank of 2. It has a trailing four-quarter earnings surprise of 195.7%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The consensus estimate for ACMR’s earnings has increased 3.1% for 2023 in the past 60 days. Shares of ACM Research have risen 44.6% in the past year.
Alkami Technology, Inc. (ALKT - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter earnings surprise of 59.2%, on average.
In the past 60 days, the consensus estimate for ALKT’s 2023 earnings has remained steady. The stock has soared 50.1% in the past year.
AMETEK, Inc. (AME - Free Report) presently carries a Zacks Rank of 2. AME has a trailing four-quarter average earnings surprise of 4%.
In the past 60 days, the consensus estimate for AMETEK’s 2023 earnings has remained steady. The stock has risen 14.3% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Roper Technologies, Inc. (ROP) - free report >>
AMETEK, Inc. (AME) - free report >>
|
https://www.zacks.com/stock/news/2218888/roper-rop-q4-earnings-beat-estimates-revenues-rise-yy
| 2024-01-31T17:09:39Z
|
blocked_url
|
Caterpillar Inc. (CAT - Free Report) is likely to have registered an improvement in both the top and bottom lines when it reports fourth-quarter 2023 results on Feb 5, before the opening bell.
Q4 Estimates
The Zacks Consensus Estimate for CAT’s total sales is $17.15 billion, suggesting growth of 3.4% from the prior-year quarter.
The consensus estimate for quarterly earnings per share for Caterpillar is currently $4.76, which indicates growth of 23.3% from the year-ago reported figure. The earnings estimates have remained unchanged in the past 30 days.
Q3 Results & Surprise History
In the last reported quarter, Caterpillar delivered an improved year-over-year performance in its revenues and earnings. The company also beat the Zacks Consensus Estimate on both metrics. CAT has a trailing four-quarter earnings surprise of 16.6%, on average.
Factors to Note
Per the Federal Reserve, for the fourth quarter of 2023, industrial production declined at an annual rate of 3.1% and manufacturing output was down 2.2%. In December 2023, the Institute for Supply Management’s manufacturing index was 47.4%. Even though the figure remained below 50 (indicating contraction), it marked an improvement from the readings of 46.7% in both November and October. The New Orders Index has been in the contraction territory with its December reading of 47.1%, following a 48.3% reading in November and 45.5% in October.
Customers have been putting their reins on spending due to the persistent inflationary scenario. This is likely to have impacted Caterpillar’s order levels in the quarter under review. Nevertheless, the company had reported a solid backlog of $28.1 billion at the end of the third quarter of 2023, which is expected to have contributed to the top-line growth in the fourth quarter of 2023.
On a positive note, the delivery performance of suppliers to manufacturing organizations was reported to be improving for the 152nd consecutive month in December. The Supplier Deliveries Index registered 47% growth in December, compared with 46.2% in November and 47.7% in October. This indicates that the supply-chain issues, which have been plaguing the industry as well as Caterpillar, have been showing signs of easing.
The company has been witnessing higher costs for raw materials and freight services, which have weighed on the company’s margins in the previous quarters. However, there has been a moderation of input cost inflation lately. We expect the company’s cost of sales to decline 2.4% in the fourth quarter, which is expected to have aided margins in the quarter.
However, these gains are likely to have been offset by higher selling, general and administrative (SG&A) expenses due to increased incentive compensation and elevated research and development (R&D) expenses to support the company’s growth strategy. Also, spending on new product development is expected to have aggravated the pressure on margins. We expect SG&A expenses to increase 24.9% and R&D expenses to rise 50.7% in the fourth quarter.
Nevertheless, savings from Caterpillar’s cost-control measures and restructuring actions are likely to have negated some of these setbacks and contributed to the margin expansion.
Our model projects a 0.8% year-over-year increase in operating income to $2.84 billion. The operating margin for the fourth quarter is projected to be 16.6% for the quarter under review.
Segment Expectations
The Resource Industries segment’s fourth-quarter external sales are pegged at $3.2 billion, suggesting a year-over-year decline of 3.7%, per our model. We expect a decline in dealer inventories in the fourth quarter of 2023 compared to the surge in dealer inventory seen In the fourth quarter of 2022. We expect the segment’s volume to decline 4.6%, which will be somewhat offset by a 1.1% rise in pricing.
The segment is expected to report an operating profit of $519 million, suggesting a 14.3% decline from the year-ago quarter’s figure of $605 million. The segment’s margins are projected to be 16.1%, which is expected to be lower compared with the year-ago quarter owing to lower volumes.
We project the Construction segment’s external sales to be $6.9 billion, indicating growth of 1.2% from the year-ago quarter. For the fourth quarter, we do not expect the typical seasonal sales increase as dealers continue to lower their inventory. We expect a 0.2% dip in volume, which will be offset by a 1.1% pricing growth.
The Construction segment’s operating profit is projected to be $1.28 billion, indicating a year-over-year decline of 13.7%.
For the Energy & Transportation segment, the estimate for external sales is $6.3 billion, suggesting an 11.6% improvement from the prior-year reported figure. Volume growth is projected to be 9.4%, reflecting the solid demand across all applications and regions. Pricing is expected to contribute 1.5% to the sales growth.
The estimate for the segment’s operating profit is pegged at $1.3 billion, suggesting a 10% improvement from the year-ago reported figure, aided by higher volume and stronger price realization.
What Our Model Unveils
Our model predicts an earnings beat for CAT this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is precisely the case here.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: Caterpillar has an Earnings ESP of +12.89%.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Price Performance
Shares of the company have gained 22.2% in the past year compared with the industry’s 20.7% growth.
Image Source: Zacks Investment Research
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks with the right combination of elements to post an earnings beat in their upcoming releases.
Reliance Steel & Aluminum Co. (RS - Free Report) , scheduled to release earnings on Feb 15, has an Earnings ESP of +3.35% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RS’ earnings for the fourth quarter is pegged at $3.88 per share. The consensus estimate for the quarterly earnings has moved up 0.3% in the past 30 days. RS has an average trailing four-quarter earnings surprise of 10.6%.
Terex Corporation (TEX - Free Report) , scheduled to release earnings on Feb 8, has an Earnings ESP of +1.25% and a Zacks Rank of 3.
The Zacks Consensus Estimate for TEX’s fourth-quarter earnings is pegged at $1.41 per share. The earnings estimate has moved up 0.7% in the past 30 days. TEX has an average trailing four-quarter earnings surprise of 30.4%.
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release earnings on Feb 15, currently has an Earnings ESP of +0.98% and a Zacks Rank of 3.
The consensus estimate for Ingersoll Rand’s earnings for the fourth quarter is pegged at 76 cents per share. The earnings estimate has been unchanged in the past 30 days. It has an average trailing four-quarter earnings surprise of 16.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Caterpillar Inc. (CAT) - free report >>
Terex Corporation (TEX) - free report >>
|
https://www.zacks.com/stock/news/2218889/caterpillar-cat-to-report-q4-earnings-whats-in-the-offing?
| 2024-01-31T17:09:45Z
|
blocked_url
|
Thermo Fisher Scientific (TMO - Free Report) continues to gain from strategic partnerships. Yet, macroeconomic issues dent growth. The company carries a Zacks Rank #3 (Hold) currently.
Within the pharma and biotech end market, of late, Thermo Fisher’s biosciences and bioproduction businesses have significantly expanded their capacity to meet the global vaccine manufacturing requirements. Additionally, the pharma services business has been providing pharma and biotech customers with the services they need to develop and produce vaccines and therapies globally. In the third quarter, within the said end market, the company registered the strongest growth in the pharma services business.
In academic and government, Thermo Fisher is delivering strong growth in electron microscopy, chromatography and mass spectrometry businesses. In the third quarter, this end market showed high single-digit growth. Within the diagnostics and healthcare end-market, the company delivered robust core business growth driven by the immunodiagnostics, microbiology and transplant diagnostics businesses.
Thermo Fisher continues to expand its business, banking on strategic alliances. In October 2023, the company entered into a companion diagnostic (CDx) partnership with Boehringer Ingelheim to support emerging precision therapies and improve patient outcomes by increasing access to reliable genomic testing needed to match patients with targeted cancer treatments. Through this collaboration, the companies will work to develop CDx tests to help identify patients with non-small cell lung cancer with specific genomic mutations.
In September 2023, Thermo Fisher collaborated with the National Minority Quality Forum (NMQF) to help bring clinical research to historically underserved patient populations through NMQF’s Alliance for Representative Clinical Trials. The NMQF and Thermo Fisher's clinical research division will aid in increasing community health clinics' capacity to participate in clinical studies.
However, Thermo Fisher has been experiencing a continuous decline in COVID-19 testing-related demand over the past few quarters. During the first six months of 2023, sales growth in all major regions declined due to decreased demand for COVID-19-related products.
Further, the challenging macroeconomic scenario and slower economic recovery in China continue to hurt Thermo Fisher's growth. The company has been witnessing headwinds in the government and academic markets. Moreover, many countries in Europe are also going through a tough time that might impact their academic budgets. Thermo Fisher remains cautious as growth could further moderate if the economic scenario worsens.
In the third quarter of 2023, Thermo Fisher registered a year-over-year decline in sales in North America and Asia Pacific. Further, China declined in high single digits. Our model estimates the Asia Pacific region to decline 4.6% in 2023.
Key Picks
Some better-ranked stocks in the broader medical space are Insulet (PODD - Free Report) , DaVita (DVA - Free Report) and Haemonetics (HAE - Free Report) . Insulet and DaVita sport a Zacks Rank #1 (Strong Buy) each at present, while Haemonetics carries a Zacks Rank #2 (Buy), You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Insulet’s 2023 earnings per share have remained constant at $1.97 in the past 30 days. Shares of the company have lost 30.9% in the past year compared with the industry’s decline of 1.2%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.5%.
Estimates for DaVita’s 2023 earnings per share have remained constant at $8.07 in the past 30 days. Shares of the company have gained 7.4% in the past year compared with the industry’s growth of 2.9%.
DVA’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.6%. In the last reported quarter, it delivered an average earnings surprise of 48.4%.
Haemonetics’stock has gained 13.3% in the past year. Earnings estimates for Haemoneticshave remained constant at $3.89 for fiscal 2024 and increased from $4.15 to $4.18 for fiscal 2025 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it delivered an earnings surprise of 5.3%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
DaVita Inc. (DVA) - free report >>
Thermo Fisher Scientific Inc. (TMO) - free report >>
|
https://www.zacks.com/stock/news/2218890/thermo-fisher-tmo-end-market-growth-strong-despite-macro-woes
| 2024-01-31T17:09:52Z
|
blocked_url
|
V.F. Corporation (VFC - Free Report) is likely to register top and bottom-line decreases from the year-ago quarter’s reported figures when it posts third-quarter fiscal 2024 earnings on Feb 6, after the closing bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.3 billion, indicating a 7.1% decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for fiscal third-quarter earnings is pegged at 83 cents per share, suggesting a 25.9% decline from the year-ago quarter’s reported number. The metric has moved up 3.75% in the past seven days.
V.F. Corp has a trailing four-quarter earnings surprise of 6.4%, on average. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 3.1%.
Key Factors to Note
V.F. Corp has been reeling under a tough operating environment and dismal wholesale performance, along with sluggishness in the Americas and the Vans brand.
The company’s wholesale business, mainly in the United States, has been witnessing challenges as its major partners have been taking a more cautious approach to forward orders. Also, elevated promotional activity and higher product costs are likely to have dented the bottom-line performance in the quarter under review.
On the last reported quarter’s earnings call, the company did not expect any improvement in Vans' performance in the second half of fiscal 2024. It anticipated a tougher US wholesale environment throughout fiscal 2024. The impacts of the dismal Vans performance are expected to get reflected in the fiscal third quarter.
However, the company has introduced a transformation program, Reinvent, to enhance focus on brand-building and improving the operating performance. The new plan focuses on four objectives, including improving the North America performance, Vans’ turnaround, reducing costs and strengthening the balance sheet. The execution of the plan is expected to have cushioned the company’s margins to some extent in the to-be-reported quarter.
V.F. Corp is expected to have gained in the to-be-reported quarter from the momentum in the APAC region, particularly driven by gains in the China business mainly The North Face brand. The North Face has been a key growth driver in this region, with revenue growth of more than 50% in Greater China in the fiscal second quarter, on the back of outdoor market tailwinds and recovering domestic travel. This has made North Face the number-one international outdoor brand in China. Momentum in this business is expected to have aided the top line in the fiscal third quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for V.F. Corp this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
V.F. Corp has a Zacks Rank #3 and an Earnings ESP of -25.10%.
Stocks Poised to Beat Earnings Estimates
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Skechers (SKX - Free Report) currently has an Earnings ESP of +15.70% and a Zacks Rank #2. SKX is likely to register top and bottom-line growth when it reports fourth-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $2.01 billion, suggesting 7.2% growth from the figure reported in the prior-year quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Skechers’ fourth-quarter earnings is pegged at 52 cents, suggesting 8.3% growth from the 48 cents reported in the year-ago quarter. The consensus mark has moved up by 4% in the past 30 days.
Deckers Outdoor (DECK - Free Report) currently has an Earnings ESP of +1.39% and a Zacks Rank #2. DECK is likely to register top and bottom-line growth when it reports third-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.4 billion, suggesting 6.7% growth from the prior-year reported figure.
The Zacks Consensus Estimate for Deckers Outdoor’s fiscal third-quarter earnings is pegged at $11.36, suggesting year-over-year growth of 8.4%. The consensus mark has moved up 2.8% in the past seven days.
Ralph Lauren (RL - Free Report) currently has an Earnings ESP of +2.38% and a Zacks Rank #3. The company is likely to register top and bottom-line growth when it reports third-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.9 billion, suggesting 1.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Ralph Lauren’s fiscal third-quarter earnings is pegged at $3.48, suggesting 3.9% growth from that reported in the year-ago quarter. The consensus mark has moved up by a penny in the past 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
V.F. Corporation (VFC) - free report >>
Skechers U.S.A., Inc. (SKX) - free report >>
|
https://www.zacks.com/stock/news/2218891/vf-corp-vfc-to-report-q3-earnings-factors-to-consider
| 2024-01-31T17:09:58Z
|
blocked_url
|
UMB Financial’s (UMBF - Free Report) fourth-quarter 2023 operating earnings per share of $2.29 beat the Zacks Consensus Estimate of $1.76. Also, the bottom line compared favorably with $2.07 earned in the year-ago quarter.
Results benefited from higher non-interest income, strong loan and deposit balances and nil provisions. Nonetheless, a decline in net interest income (NII), lower net interest margin (NIM) and increased expenses were the headwinds.
The results included the charge of $52.8 million related to the FDIC special assessment. After considering these charges, the net income for UMBF was $70.9 million for the specified quarter, down 29.2% year over year.
In 2023, operating earnings per share were $8.14, which decreased 8.3% from the prior year and missed the Zacks Consensus Estimate of $7.49. Net income (GAAP) was $350 million, which declined 18.9% from 2022.
Quarterly Revenues Increase, Costs Rise
Quarterly revenues were $370.8 million, up marginally year over year. Also, the top line beat the Zacks Consensus Estimate of $361.6 million.
In 2023, total revenues were $1.46 billion, slightly down from the previous year. Also, the top line missed the Zacks Consensus Estimate of $1.47 billion.
NII on an FTE basis was $237.2 million, which declined 5.8% from the prior-year quarter. On an FTE basis, NIM was 2.46%, down 37 basis points.
Non-interest income was $140.3 million, up 11.8% year over year. The rise was primarily driven by an increase in trust and securities processing, service charges on deposit accounts and investment securities gain.
Non-interest expenses were $290 million, up 21.9% year over year. The rise was driven by higher regulatory fees, mainly from FDIC special assessment. Also, a rise in processing fees and an uptick in deferred compensation expenses were some of the other major reasons behind the jump. These were partially offset by a decline in bonus and commission expenses, equipment costs and legal and consulting expenses. The operating non-interest expense was $235.9 million.
The efficiency ratio increased to 77.65% from the prior-year quarter’s 63.72%. An increase in efficiency ratio indicates a decrease in profitability.
As of Dec 31, 2023, average loans and leases were $23.1 billion, up 1.6% sequentially. Also, average deposits increased 4.3% to $32.7 billion.
Credit Quality Improves
The ratio of net charge-offs to average loans was 0.02% in the reported quarter, which decreased from 0.04% in the year-ago quarter.
Also, total non-accrual and restructured loans were $13.2 million, down 31.4% year over year.
The provision for credit losses was nil for the fourth quarter of 2023 compared with $9 million reported in the prior-year quarter. This reduction was primarily due to favorable changes in macroeconomic factors and credit metrics, partially offset by increased loan growth.
Capital Ratios Improve
As of Dec 31, 2023, the Tier 1 risk-based capital ratio was 10.94%, which rose from 10.62% as of Dec 31, 2022. The Tier 1 leverage ratio was 8.49%, which increased from 8.43% as of Dec 31, 2022. The total risk-based capital ratio was 12.85%, which grew from 12.50% in the year-ago quarter.
Profitability Ratios Deteriorate
Return on average assets at the quarter’s end was 0.69%, which dipped from the year-ago quarter’s 1.06%. Further, the operating return on average equity was 9.52%, which decreased from 15.16% reported in the previous year’s quarter.
Our Take
UMB Financial is poised to benefit from elevated loan and deposit balances, as well as increased non-interest income and improved asset quality. However, reduced NII and NIM, together with increased expenses, are near-term concerns.
UMB Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Banks
Hancock Whitney Corp.’s (HWC - Free Report) fourth-quarter 2023 adjusted earnings per share of $1.26 beat the Zacks Consensus Estimate of $1.08. Adjusted earnings per share, however, compared unfavorably with $1.65 earned in the year-ago quarter.
HWC’s results were impacted by a decline in both NII and non-interest income. Further, a slight decrease in loan balances and an increase in expenses and provisions acted as spoilsports.
WaFd, Inc.’s (WAFD - Free Report) first-quarter fiscal 2024 (ended Dec 31) earnings of 85 cents per share surpassed the Zacks Consensus Estimate of 72 cents. However, the bottom line declined 26.7% year over year.
WAFD’s results primarily benefited from the rise in other income and steady loan balance. In the reported quarter, the company did not record any provision for credit losses. However, a fall in NII and an increase in other expenses acted as spoilsports.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
UMB Financial Corporation (UMBF) - free report >>
|
https://www.zacks.com/stock/news/2218892/umb-financial-umbf-q4-earnings-beat-estimates-costs-rise
| 2024-01-31T17:10:04Z
|
blocked_url
|
Fortune Brands Innovations, Inc. (FBIN - Free Report) reported mixed results for fourth-quarter 2023, with earnings beating the Zacks Consensus Estimate and net sales missing the same. On a year-over-year basis, net sales increased, but earnings declined.
Despite a challenging macro environment, the company's teams successfully delivered, progressed long-term initiatives and executed on priorities. The company's results this year highlight its focus on surpassing market sales, maintaining margins and generating cash.
In the past year, FBIN has undertaken transformative actions to better leverage the strength of its aligned organization, focusing on leading brands, meaningful innovation and advantaged channel relationships. These actions and a focus on market segments with long-term growth opportunities are likely to drive the company's performance in 2024 and beyond.
Following the earnings release, shares of Fortune Brands lost 0.98% in the after-market trading session on Jan 30.
Inside the Numbers
Non-GAAP earnings per share (EPS) of 95 cents surpassed the Zacks Consensus Estimate of 93 cents by 2.2%. However, the metric declined 11% from $1.07 reported a year ago.
Net sales of $1,161 million missed the consensus estimate of $1,183 million by 1.9%. However, the metric increased 3% from the year-ago quarter’s figure.
The non-GAAP operating income declined 6% year over year to $183.6 million. Non-GAAP operating margin contracted 150 basis points (bps) from the year-ago period’s levels to 15.8% for the quarter.
Segment Discussion
Water Innovations: The segment's net sales of $663 million increased 3% from the prior-year quarter’s levels. The upside can be attributed to the Emtek acquisition. Non-GAAP operating margin contracted 220 bps year over year to 21.8%.
Outdoors: The segment’s net sales declined 7% year over year to $309 million. Segmental non-GAAP operating margin expanded 10 bps year over year to 13.9%.
Security: Net sales of $189 million increased 20% year over year, driven by the U.S. and Canadian Yale and August residential smart locks acquisition. The segment’s non-GAAP operating margin expanded 20 bps year over year to 17.2%.
2023 Highlights
Net sales came in at $4,626 million, down 2% year over year in 2023. Non-GAAP earnings per share came in at $3.91 compared with $4.24 a year ago.
Non-GAAP operating income declined 9% year over year to $738 million. The non-GAAP operating margin contracted 110 bps from the year-ago period’s levels to 16%.
Financials
As of Dec 30, 2023, Fortune Brands reported cash and cash equivalents of $366.4 million compared with $642.5 million at the end of 2023. Net cash provided by operating activities totaled $1.60 billion compared with $566.3 million in 2022.
Long-term debt, as of Dec 30, 2023, was $2,670 million compared with $2,074 million as of 2022 end.
2024 Guidance
For 2024, FBIN expects net sales growth to range between 3.5-5.5%. It also expects the non-GAAP operating margin to be 16.5-17.5%.
Non-GAAP earnings per share are expected to be in the range of $4.20-$4.40.
Zacks Rank & Other Key Picks
Fortune Brands currently carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the Zacks Retail-Wholesale sector:
Carrols Restaurant Group, Inc. (TAST - Free Report) sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 102% on average. Shares of TAST have rallied 337.7% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TAST’s 2024 sales and EPS indicates 3.8% and 14.3% growth, respectively, from the year-ago period’s levels.
Darden Restaurants, Inc. (DRI - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 4.2%, on average. Shares of DRI have increased 10.7% in the past year.
The Zacks Consensus Estimate for DRI’s 2024 sales and EPS indicates 9.9% and 10.9% growth, respectively, from the year-ago period’s levels.
Chipotle Mexican Grill, Inc. (CMG - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 5.8%, on average. The stock has gained 46.9% in the past year.
The Zacks Consensus Estimate for CMG’s 2024 sales and EPS suggests rises of 13.2% and 19.7%, respectively, from the year-ago period’s levels.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Chipotle Mexican Grill, Inc. (CMG) - free report >>
Darden Restaurants, Inc. (DRI) - free report >>
|
https://www.zacks.com/stock/news/2218893/fortune-brands-fbin-q4-earnings-top-net-sales-lag-stock-down
| 2024-01-31T17:10:10Z
|
blocked_url
|
Nordstrom, Inc. (JWN - Free Report) is set to expand its footprint in North Carolina with the opening of Rack stores in Raleigh and Matthews. These additions, scheduled to open in fall 2024 and spring 2025, respectively, are part of the company's strategic growth in the region, offering a blend of quality retail experience and community engagement.
Image Source: Zacks Investment Research
Detailed Overview of New Store Locations
In Raleigh, the new store spans 32,000 square feet within the bustling Triangle Town Place. This location is chosen for its accessibility, situated off Capital Blvd and in close proximity to I-540. Triangle Town Place is owned and managed by Global Net Lease, Inc. This new store will make the center a prime shopping destination in Northeast Raleigh.
In Matthews, the store will occupy 25,000 square feet in Sycamore Commons, positioned off US-74/Independence Boulevard and Northeast Parkway. The shopping center, managed by InvenTrust Properties, will benefit from the addition of Nordstrom Rack, aligning with the company’s mission of providing quality and value to customers.
Enhancing Customer Experience Through Services & Offerings
Both Raleigh and Matthews Nordstrom Rack locations are set to enhance shopping experiences with an array of services. These include the convenience of online order pick-up from Nordstrom.com and NordstromRack.com, and streamlined return processes.
Additionally, the stores will feature an extensive range of products, from apparel to accessories and home goods, offering up to 70% off on these items. This aligns with Nordstrom Rack's commitment to delivering value and quality, integral to Nordstrom's "Closer to You" strategy, which aims to create a seamless and interconnected shopping experience across their physical and digital platforms.
Wrapping Up
The planned opening of Nordstrom Rack stores in Raleigh and Matthews is a testament to Nordstrom’s commitment to expanding its retail footprint in North Carolina. This expansion not only enhances the retail landscape but also underscores JWN's role as an economic booster.
Nordstrom, a renowned Seattle-based fashion retailer, has been making efforts to drive efficiency and improve customer experience via faster order fulfillment. It is also on track to reduce inventory and optimize product mix. The company is concentrating on adding premium brands to Nordstrom Rack, improving assortment and boosting brand recognition. The Zacks Rank #3 (Hold) stock has gained 33% in the past three months compared with the industry’s growth of 34.7%.
Three Solid Picks
A few better-ranked stocks are Abercrombie & Fitch Co. (ANF - Free Report) , American Eagle Outfitters Inc. (AEO - Free Report) and Deckers Outdoor Corporation (DECK - Free Report) .
Abercrombie operates as a specialty retailer of premium, high-quality casual apparel. It currently sports a Zacks Rank #1 (Strong Buy). The company recorded an EPS surprise of 60.5% in the last reported quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie’s current fiscal-year sales suggests growth of 15.1% from the year-ago reported number. ANF has a trailing four-quarter earnings surprise of 713%, on average.
American Eagle Outfitters is a specialty retailer of casual apparel, accessories and footwear for men and women. It currently flaunts a Zacks Rank #1.
The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal-year earnings and sales indicates growth of 45.4% and 5%, respectively, from the previous year’s reported numbers. AEO has a trailing four-quarter average earnings surprise of 23%.
Deckers is a leading designer, producer and brand manager of innovative, niche footwear, and accessories developed for outdoor sports and other lifestyle-related activities. It has a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Deckers’ current fiscal-year sales and earnings suggests growth of 12.4% and 23.4%, respectively, from the year-ago reported numbers. DECK has a trailing four-quarter earnings surprise of 26.3%, on average.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Abercrombie & Fitch Company (ANF) - free report >>
American Eagle Outfitters, Inc. (AEO) - free report >>
|
https://www.zacks.com/stock/news/2218894/nordstrom-jwn-to-expand-with-new-racks-in-north-carolina
| 2024-01-31T17:10:17Z
|
blocked_url
|
Phillips 66 (PSX - Free Report) has reported fourth-quarter 2023 adjusted earnings of $3.09 per share, which beat the Zacks Consensus Estimate of $2.37. However, the bottom line was lower than the year-ago quarter’s $4.
Total quarterly revenues of $38.74 billion beat the Zacks Consensus Estimate of $34.3 billion. However, the top line declined from the year-ago quarter’s $40.91 billion.
Better-than-expected quarterly results can be primarily attributed to decreased costs and expenses. The positives were partially offset by lower refining margins worldwide.
Segmental Results
Midstream:
The segment generated adjusted pre-tax quarterly earnings of $754 million, up from $674 million in the year-ago quarter. The reported figure also surpassed our estimate of $410 million.
Chemicals:
The unit recorded adjusted pre-tax earnings of $106 million, up from $52 million in the prior-year quarter. The reported figure also surpassed our estimate of $88.8 million.
Refining:
The segment reported adjusted pre-tax earnings of $797 million, down from $1,626 million in the year-ago quarter. The reported figure also missed our projection of $977.4 million. The segment was affected by lower realized margins. The negatives were partially offset by the effects of inventory hedging, increased profits from clean products on the Gulf Coast and strong commercial results.
Refining’s realized refining margins worldwide declined to $14.41 per barrel from the year-ago quarter’s $19.73. The same in the Central Corridor and Atlantic Basin/Europe declined to $23.45 and $9.95 per barrel from the year-ago quarter’s $25.03 and $19.58, respectively.
The West Coast’s margins declined to $9.89 per barrel from $16.77 in the year-ago quarter. In the Gulf Coast, the metric declined to $13.96 per barrel from $16.35 a year ago.
Marketing and Specialties
Pre-tax earnings declined to $432 million from $539 million in the year-ago quarter.
Realized marketing fuel margins in the United States declined to $1.62 per barrel from the year-ago quarter’s $2.05. The same in the international markets also declined to $5 from $9.94 a year ago.
Costs and Expenses
Total costs and expenses in the fourth quarter declined to $37 billion from $38.36 billion in the year-ago period. The reported figure is above our projection of $31.84 billion.
Financial Condition
For the reported quarter, Phillips 66 generated $2.19 billion of net cash from operations, significantly down from $4.75 billion a year ago. The company’s capital expenditure and investments totaled $634 million. It paid out dividends of $457 million in the fourth quarter.
As of Dec 31, 2023, cash and cash equivalents were $3.3 billion. Total debt was $19.4 billion, reflecting a net debt to capitalization of 34%.
Zacks Rank & Stocks to Consider
Phillips 66 currently carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked companies mentioned below. The three companies presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Vaalco Energy (EGY - Free Report) is an independent energy company principally engaged in the acquisition, exploration, development, and production of crude oil and natural gas.
The Zacks Consensus Estimate for EGY’s 2024 EPS is pegged at $1.49. It has witnessed upward earnings estimate revisions for 2024 in the past 60 days. The company’s earnings for 2024 are expected to surge 325.7% year over year.
Subsea 7 S.A. (SUBCY - Free Report) helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore.
The Zacks Consensus Estimate for SUBCY’s 2024 EPS is pegged at 89 cents. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days. The company’s earnings for 2024 are expected to soar 242.3% year over year.
Oceaneering International, Inc. (OII - Free Report) is one of the leading suppliers of offshore equipment and technology solutions to the energy industry.
The Zacks Consensus Estimate for OII’s 2024 EPS is pegged at $1.52. It has a Zacks Style Score of A for Growth and B for Value. OII’s earnings for 2024 are expected to surge 76.4% year over year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Oceaneering International, Inc. (OII) - free report >>
Phillips 66 (PSX) - free report >>
|
https://www.zacks.com/stock/news/2218895/phillips-66-psx-beats-earnings-revenue-estimates-in-q4?-revenue-estimates-in-q4
| 2024-01-31T17:10:23Z
|
blocked_url
|
Burlington Stores, Inc. (BURL - Free Report) has exhibited a decent run on the bourses in the past three months, owing to its operational initiatives, and continuous focus on marketing, merchandising and store prototypes.
The company maintains a strong competitive advantage through its effective off-price retail model, innovative merchandising and streamlined supply-chain processes, proving its resilience in challenging market conditions. Burlington Stores, one of the recognized retailers in the branded apparel space, has shown a consistent ability to adapt to uncertainties, stay ahead of consumer trends, and drive revenue growth and margin expansion.
BURL's 2.0 initiative is a response to evolving industry dynamics, centering on marketing, merchandising and innovative store designs. This strategy aims to maximize customer value by efficiently managing liquidity, engaging in strategic purchasing, maintaining lean inventory levels, and ensuring rapid turnover of stock.
This Zacks Rank #3 (Hold) stock has outpaced the Zacks Retail - Discount Stores. In the said period, shares of the company have gained 66.2% compared with the industry’s growth of 22.3%. The Zacks Consensus Estimate for fiscal 2023 sales and earnings per share (EPS) is pegged at $9.61 billion and $5.74, indicating year-over-year increases of 10.4% and 34.7%, respectively.
Image Source: Zacks Investment Research
Let’s Delving Deeper
A pivotal objective for Burlington Stores is to elevate its operating margin to 10% by fiscal 2028, anticipating improvements through increased sales, enhanced inventory management and targeted cost-reduction strategies, particularly within the supply chain.
The company aims for remarkable growth in operating income, reaching $1.6 billion over the next five years — a threefold increase from the projected operating income in fiscal 2023. This strategy underscores the optimization of operational efficiency and capitalizing on growth opportunities.
The company reported a significant 6% year-over-year rise in comparable store sales in the third quarter of fiscal 2023, attributing this success to a strong back-to-school season, a key period in retail. This achievement reflects the effectiveness of Burlington Stores' merchandising strategies and its adept adaptation to consumer needs, laying the groundwork for further strategic expansion.
Burlington Stores is also setting ambitious sales targets, aiming for $16 billion over the next five years, indicating a 60% total increase from its fiscal 2023 reported figure. This goal is rooted in expanding its customer reach and improving its product range. Supporting this objective is an aggressive plan to open 500 stores within five years. The focus will be on smaller, 25,000-square-foot locations in high-traffic strip malls and strategically repositioning or downsizing older, less productive stores.
The company anticipates an average annual comp sales growth in the mid-single digits over this period. Burlington Stores' commitment to an off-price business model and the expected positive impact of its new openings and relocation initiatives are key drivers of this projected growth.
To wrap up, Burlington Stores is strategically aligning itself for substantial growth and improved profitability. The company is poised to significantly enhance its operational efficiency and market footprint through effective supply-chain management, the focused implementation of its off-price retail model under the Burlington 2.0 initiative and a bold store expansion plan. This positions Burlington Stores for a notable increase in sales and operating margins in the forthcoming years.
3 Red-Hot Stocks to Consider
A few better-ranked stocks are Abercrombie & Fitch Co. (ANF - Free Report) , Target Corporation (TGT - Free Report) and The TJX Companies, Inc. (TJX - Free Report) .
Abercrombie operates as a specialty retailer of premium, high-quality casual apparel. It currently sports a Zacks Rank #1 (Strong Buy). The company recorded an EPS surprise of 60.5% in the last reported quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie’s current fiscal-year sales suggests growth of 15.1% from the year-ago reported number. ANF has a trailing four-quarter earnings surprise of 713%, on average.
Target has evolved from being a pure brick-and-mortar retailer to an omni-channel entity. The company carries a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Target’s current fiscal-year earnings implies growth of 38.5% from the fiscal 2022 reported number. TGT has a trailing four-quarter average earnings surprise of 30.8%.
TJX Companies is a leading off-price retailer of apparel and home fashions in the United States and worldwide. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for TJX Companies’ current fiscal-year earnings and sales indicates growth of 20.6% and 8%, respectively, from the fiscal 2023 reported figures. TJX has a trailing four-quarter average earnings surprise of 6.3%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Target Corporation (TGT) - free report >>
The TJX Companies, Inc. (TJX) - free report >>
|
https://www.zacks.com/stock/news/2218911/heres-why-burlington-stores-burl-marches-ahead-its-industry
| 2024-01-31T17:10:29Z
|
blocked_url
|
Unum Group’s (UNM - Free Report) fourth-quarter 2023 operating net income of $1.79 per share missed the Zacks Consensus Estimate by 3.8%. The bottom line, however, increased 25.1% year over year.
The quarterly results reflected a continued strong operating performance.
Operational Update
Total operating revenues of Unum Group were $3.2 billion, up 5% year over year, driven by higher premium income, other income and improved net investment income. The top line beat the Zacks Consensus Estimate by 0.8%.
Premiums increased 5.9% from the prior-year quarter to $2.6 billion. Our estimate and the Zacks Consensus Estimate were both pegged at $2.5 billion.
Total benefits and expenses increased 3.3% year over year to $2.7 billion, attributable primarily to higher policy benefits, commissions, interest and debt expense, amortization of deferred acquisition costs and other expenses. Our estimate for the same was also $2.7 billion.
Quarterly Segment Update
Unum U.S.: Premium income was $1.7 billion, up 5.7% year over year.
Adjusted operating income rose 47.7% year over year to $342.1 million. The Zacks Consensus Estimate was pegged at $320 million.
Unum International: Premium income of $218.1 million decreased 22.3% year over year. Adjusted operating income was $39.4 million, down 28.5% year over year. The Zacks Consensus Estimate was pegged at $33.4 million.
The Unum U.K. line of business premium income was £149.1 million, up 12.9% from the year-ago quarter, primarily due to in-force block growth and higher premium as a result of a reinsurance transaction. Adjusted operating income, in local currency, of £30.9 million was down 32.2% from a year ago.
Sales increased 45.3% year over year.
Persistency increased in the group long-term disability but decreased in the group life business and supplemental product line of business.
Colonial Life: Premium income increased 3.4% from the prior-year figure to $434.8 million, driven by higher sales in prior periods and favorable persistency.
Sales increased 11.5% from the year-ago figure to $189.5 million. Adjusted operating income decreased 8.1% from the prior-year period to $87.8 million. The Zacks Consensus Estimate was pegged at $111 million.
The benefit ratio deteriorated 180 bps year over year to 53.2%, primarily due to an increase in reserves on model refinements in the life product line, partially offset by lower claim costs in the cancer and critical illness product line.
Closed Block: Adjusted operating income was $21.3 million, which decreased 52% year over year. Our estimate was $33.8 million, while the Zacks Consensus Estimate was $33.3 million.
Corporate: The segment incurred an adjusted operating loss of $36.5 million, narrower than the year-ago quarter’s loss of $37.5 million. The narrower loss was attributable primarily to an increase in net investment income. Our estimate for loss was $411 million, while the Zacks Consensus Estimate was pegged at a loss of $39.5 million.
Full-Year Highlights
For 2023, the company reported operating net income of $7.66 per share, up 19.7% year over year.
Total operating revenues of Unum Group were $3.2 billion, up 3.5% year over year. Premiums increased 4.5% to $10 billion, in line with our estimate.
Capital Management
As of Dec 31, 2023, the weighted average risk-based capital ratio for Unum Group’s traditional U.S. insurance companies was approximately 415%.
Unum Group exited the fourth quarter with holding company liquidity worth $1.7 billion.
Book value per share grew 13% year over year to $49.91 as of Dec 31, 2023.
UNM bought back 1.8 shares for $76.6 million. Unum Group has $500 million worth of buyback authorization remaining.
2024 Guidance
UNM expects after-tax adjusted operating income per share to increase 7% to 9% in 2024.
Zacks Rank
Unum Group currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Some Other Insurers
The Travelers Companies (TRV - Free Report) reported fourth-quarter 2023 core income of $7.01 per share, which beat the Zacks Consensus Estimate of $5.04. The bottom line more than doubled year over year, driven by higher underlying underwriting gain, lower catastrophe losses and higher net investment income. Travelers’ total revenues increased 13.5% from the year-ago quarter to $10.9 billion, primarily driven by higher premiums. The top-line figure beat the Zacks Consensus Estimate by 0.2%.
Net written premiums increased 13% year over year to about $10 billion, driven by strong growth across all three segments. The figure was higher than our estimate of $9.7 billion. TRV witnessed an underwriting gain of $1.4 billion, up more than three-fold year over year, driven by higher business volumes. The combined ratio improved 870 bps year over year to 85.8, driven by a lower underlying combined ratio and lower catastrophe losses.
The Progressive Corporation’s (PGR - Free Report) fourth-quarter 2023 earnings per share of $2.96 beat the Zacks Consensus Estimate of $2.38. The bottom line improved 97.3% year over year. Operating revenues of $16.6 billion beat the Zacks Consensus Estimate by 3% and increased 23.2% year over year.
Net premiums written were $15.1 billion in the quarter, up 21% from $12.5 billion a year ago. PGR’s premiums beat our estimate of $14 billion. Net premiums earned grew 22% to $15.8 billion and beat our estimate of $14.8 billion.
Progressive’s combined ratio improved 520 bps from the prior-year quarter’s level to 88.7.
W.R. Berkley Corporation’s (WRB - Free Report) fourth-quarter 2023 operating income of $1.45 per share beat the Zacks Consensus Estimate of $1.35 by 7.4%. The bottom line improved 25% year over year. Operating revenues came in at $3.2 billion, up 9.3% year over year, on the back of higher net premiums earned as well as improved net investment income. The top line beat the consensus estimate by 1.3%
W.R. Berkley’s net premiums written were $2.7 billion, up 12% year over year. The figure was lower than our estimate of $2.8 billion. Pre-tax underwriting income increased 8.2% to $315.9 million. The consolidated combined ratio remained flat year over year at 88.4.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
The Travelers Companies, Inc. (TRV) - free report >>
W.R. Berkley Corporation (WRB) - free report >>
|
https://www.zacks.com/stock/news/2218912/unum-group-unm-q4-earnings-miss-estimates-revenues-beat
| 2024-01-31T17:10:36Z
|
blocked_url
|
Group 1 Automotive (GPI - Free Report) reported $4.48 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 10.1%. EPS of $9.50 for the same period compares to $10.86 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.38 billion, representing a surprise of +2.39%. The company delivered an EPS surprise of -9.44%, with the consensus EPS estimate being $10.49.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Group 1 Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Units sold - United States - Retail new vehicles sold: 38,152 versus the three-analyst average estimate of 35,971.
- Units sold - United States - Retail used vehicles sold: 35,195 versus the three-analyst average estimate of 36,677.
- Average sales price per unit sold - United States - New Vehicle Retail: $52,141 versus the three-analyst average estimate of $50,850.79.
- Average sales price per unit sold - United States - Used Vehicle Retail: $30,266 versus the three-analyst average estimate of $29,784.98.
- Revenues- United States - New vehicle retail sales: $1.99 billion versus the three-analyst average estimate of $1.83 billion.
- Revenues- United States - Used vehicle retail sales: $1.07 billion versus $1.09 billion estimated by three analysts on average.
- Revenues- United Kingdom - New vehicle retail sales: $321.90 million versus $337.49 million estimated by three analysts on average.
- Revenues- United Kingdom - F&I, net: $15.20 million versus the three-analyst average estimate of $15.11 million.
- Revenues- New vehicle retail sales: $2.31 billion compared to the $2.17 billion average estimate based on four analysts. The reported number represents a change of +17.2% year over year.
- Revenues- Finance, insurance and other, net: $187.10 million versus the four-analyst average estimate of $184.53 million. The reported number represents a year-over-year change of +8.3%.
- Revenues- Total Used vehicle: $1.44 billion versus $1.45 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.3% change.
- Revenues- Used vehicle wholesale sales: $102.30 million versus $96.91 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +19.4% change.
Shares of Group 1 Automotive have returned -7.5% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
|
https://www.zacks.com/stock/news/2218913/heres-what-key-metrics-tell-us-about-group-1-automotive-gpi-q4-earnings
| 2024-01-31T17:10:42Z
|
blocked_url
|
Investors looking for stocks in the Outsourcing sector might want to consider either Cap Gemini SA (CGEMY - Free Report) or Paychex (PAYX - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
Cap Gemini SA and Paychex are both sporting a Zacks Rank of # 2 (Buy) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. But this is only part of the picture for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
CGEMY currently has a forward P/E ratio of 18.06, while PAYX has a forward P/E of 25.95. We also note that CGEMY has a PEG ratio of 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PAYX currently has a PEG ratio of 3.31.
Another notable valuation metric for CGEMY is its P/B ratio of 3.57. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, PAYX has a P/B of 12.50.
Based on these metrics and many more, CGEMY holds a Value grade of B, while PAYX has a Value grade of C.
Both CGEMY and PAYX are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that CGEMY is the superior value option right now.
|
https://www.zacks.com/stock/news/2218914/cgemy-or-payx-which-is-the-better-value-stock-right-now?
| 2024-01-31T17:10:48Z
|
blocked_url
|
Investors interested in Financial - Investment Management stocks are likely familiar with AllianceBernstein (AB - Free Report) and BlackRock (BLK - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Currently, AllianceBernstein has a Zacks Rank of #1 (Strong Buy), while BlackRock has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that AB likely has seen a stronger improvement to its earnings outlook than BLK has recently. But this is only part of the picture for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
AB currently has a forward P/E ratio of 11.33, while BLK has a forward P/E of 19.84. We also note that AB has a PEG ratio of 0.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BLK currently has a PEG ratio of 2.
Another notable valuation metric for AB is its P/B ratio of 1.92. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, BLK has a P/B of 3.
These are just a few of the metrics contributing to AB's Value grade of B and BLK's Value grade of D.
AB is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that AB is likely the superior value option right now.
|
https://www.zacks.com/stock/news/2218915/ab-vs-blk-which-stock-is-the-better-value-option?
| 2024-01-31T17:10:54Z
|
blocked_url
|
Investors looking for stocks in the Electronics - Testing Equipment sector might want to consider either Itron (ITRI - Free Report) or Ametek (AME - Free Report) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
Right now, Itron is sporting a Zacks Rank of #1 (Strong Buy), while Ametek has a Zacks Rank of #2 (Buy). This means that ITRI's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
ITRI currently has a forward P/E ratio of 23.33, while AME has a forward P/E of 24.53. We also note that ITRI has a PEG ratio of 1.01. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. AME currently has a PEG ratio of 2.56.
Another notable valuation metric for ITRI is its P/B ratio of 2.65. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, AME has a P/B of 4.59.
Based on these metrics and many more, ITRI holds a Value grade of B, while AME has a Value grade of C.
ITRI stands above AME thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ITRI is the superior value option right now.
|
https://www.zacks.com/stock/news/2218916/itri-vs-ame-which-stock-is-the-better-value-option?
| 2024-01-31T17:11:00Z
|
blocked_url
|
Investors with an interest in Schools stocks have likely encountered both Universal Technical Institute (UTI - Free Report) and Bright Horizons Family Solutions (BFAM - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Right now, Universal Technical Institute is sporting a Zacks Rank of #1 (Strong Buy), while Bright Horizons Family Solutions has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that UTI has an improving earnings outlook. But this is only part of the picture for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
UTI currently has a forward P/E ratio of 23.21, while BFAM has a forward P/E of 31.58. We also note that UTI has a PEG ratio of 1.55. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BFAM currently has a PEG ratio of 3.27.
Another notable valuation metric for UTI is its P/B ratio of 3.07. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, BFAM has a P/B of 4.90.
Based on these metrics and many more, UTI holds a Value grade of B, while BFAM has a Value grade of D.
UTI has seen stronger estimate revision activity and sports more attractive valuation metrics than BFAM, so it seems like value investors will conclude that UTI is the superior option right now.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Universal Technical Institute Inc (UTI) - free report >>
Bright Horizons Family Solutions Inc. (BFAM) - free report >>
|
https://www.zacks.com/stock/news/2218917/uti-vs-bfam-which-stock-should-value-investors-buy-now?
| 2024-01-31T17:11:07Z
|
blocked_url
|
Investors with an interest in Medical - Drugs stocks have likely encountered both Amylyx Pharmaceuticals, Inc. (AMLX - Free Report) and Neurocrine Biosciences (NBIX - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Right now, Amylyx Pharmaceuticals, Inc. is sporting a Zacks Rank of #2 (Buy), while Neurocrine Biosciences has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that AMLX has an improving earnings outlook. But this is only part of the picture for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
AMLX currently has a forward P/E ratio of 10.06, while NBIX has a forward P/E of 29.42. We also note that AMLX has a PEG ratio of 0.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NBIX currently has a PEG ratio of 0.75.
Another notable valuation metric for AMLX is its P/B ratio of 2.52. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, NBIX has a P/B of 6.97.
Based on these metrics and many more, AMLX holds a Value grade of B, while NBIX has a Value grade of C.
AMLX has seen stronger estimate revision activity and sports more attractive valuation metrics than NBIX, so it seems like value investors will conclude that AMLX is the superior option right now.
|
https://www.zacks.com/stock/news/2218918/amlx-vs-nbix-which-stock-should-value-investors-buy-now?
| 2024-01-31T17:11:13Z
|
blocked_url
|
Investors interested in stocks from the Electronics - Semiconductors sector have probably already heard of Silicon Motion (SIMO - Free Report) and Nova Ltd. (NVMI - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Silicon Motion and Nova Ltd. are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that SIMO is likely seeing its earnings outlook improve to a greater extent. However, value investors will care about much more than just this.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
SIMO currently has a forward P/E ratio of 18.74, while NVMI has a forward P/E of 27.47. We also note that SIMO has a PEG ratio of 2.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NVMI currently has a PEG ratio of 5.07.
Another notable valuation metric for SIMO is its P/B ratio of 2.70. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, NVMI has a P/B of 5.88.
These metrics, and several others, help SIMO earn a Value grade of B, while NVMI has been given a Value grade of F.
SIMO has seen stronger estimate revision activity and sports more attractive valuation metrics than NVMI, so it seems like value investors will conclude that SIMO is the superior option right now.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Silicon Motion Technology Corporation (SIMO) - free report >>
|
https://www.zacks.com/stock/news/2218919/simo-or-nvmi-which-is-the-better-value-stock-right-now?
| 2024-01-31T17:11:19Z
|
blocked_url
|
Investors interested in stocks from the Banks - Foreign sector have probably already heard of Erste Group Bank AG (EBKDY - Free Report) and National Australia Bank Ltd. (NABZY - Free Report) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Erste Group Bank AG and National Australia Bank Ltd. are sporting Zacks Ranks of #1 (Strong Buy) and #2 (Buy), respectively, right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that EBKDY has an improving earnings outlook. But this is just one piece of the puzzle for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
EBKDY currently has a forward P/E ratio of 5.77, while NABZY has a forward P/E of 13.45. We also note that EBKDY has a PEG ratio of 0.58. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. NABZY currently has a PEG ratio of 3.89.
Another notable valuation metric for EBKDY is its P/B ratio of 0.71. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, NABZY has a P/B of 1.61.
These are just a few of the metrics contributing to EBKDY's Value grade of B and NABZY's Value grade of D.
EBKDY is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that EBKDY is likely the superior value option right now.
|
https://www.zacks.com/stock/news/2218920/ebkdy-vs-nabzy-which-stock-should-value-investors-buy-now?
| 2024-01-31T17:11:25Z
|
blocked_url
|
Investors interested in stocks from the Electronics - Miscellaneous Components sector have probably already heard of TE Connectivity (TEL - Free Report) and BWX Technologies (BWXT - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
TE Connectivity has a Zacks Rank of #2 (Buy), while BWX Technologies has a Zacks Rank of #3 (Hold) right now. Investors should feel comfortable knowing that TEL likely has seen a stronger improvement to its earnings outlook than BWXT has recently. But this is just one piece of the puzzle for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
TEL currently has a forward P/E ratio of 19.33, while BWXT has a forward P/E of 26.35. We also note that TEL has a PEG ratio of 2.09. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BWXT currently has a PEG ratio of 5.73.
Another notable valuation metric for TEL is its P/B ratio of 3.43. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, BWXT has a P/B of 8.70.
Based on these metrics and many more, TEL holds a Value grade of B, while BWXT has a Value grade of C.
TEL has seen stronger estimate revision activity and sports more attractive valuation metrics than BWXT, so it seems like value investors will conclude that TEL is the superior option right now.
|
https://www.zacks.com/stock/news/2218921/tel-vs-bwxt-which-stock-is-the-better-value-option?
| 2024-01-31T17:11:32Z
|
blocked_url
|
ASTANA — The Chair of Baiterek National Management Holding Nurlan Baibazarov presented remarkable achievements of the holding in 2023 and discussed ambitious plans for the year ahead with President Kassym-Jomart Tokayev during a Jan. 31 meeting, Akorda press service reported.
Baiterek National Holding stands as a cornerstone of Kazakhstan’s economic development, overseeing a diverse portfolio of investments and initiatives aimed at bolstering entrepreneurship, supporting the agricultural sector, and addressing housing needs across the nation.
During the meeting with President Tokayev, Baibazarov said that Baiterek’s assets surged by an impressive 12%, while the investment and loan portfolios experienced a substantial 10% growth. Notably, the holding’s net profit exceeded 400 billion tenge ($890.6 million), marking a remarkable 7% increase over the previous year.
Baibazarov outlined key achievements, emphasizing Baiterek’s pivotal role in advancing the real sector of the economy. The holding exceeded planned targets for financing large-scale projects and leasing transactions by 24%, demonstrating its robust commitment to driving economic growth. Moreover, substantial investments worth 554.7 billion tenge ($1.2 trillion) were invested into the agro-industrial complex, underscoring Baiterek’s support for the vital agricultural sector.
Baibazarov also reported that in response to environmental challenges, the national holding extended assistance to over 1,000 farmers affected by adverse weather conditions, allocating 48 billion tenge ($106.8 million) for relief efforts. The holding’s efforts also addressed housing needs, with over 2 million square meters of housing brought into operation in 2023, supported by investments of 317.6 billion tenge ($707.2 million).
According to Baibazarov, Baiterek’s plans for 2024 include investments of 370 billion tenge ($824 million) in agricultural projects and the creation of over 4,000 new jobs. The holding aims to spearhead initiatives in financing the manufacturing and tourism industries and the construction of waste processing and sorting plants. The initiation of the 9-20-25 housing program, catering to individuals aged 35 years and younger, demonstrates Baiterek’s dedication to tackling housing affordability issues in Kazakhstan.
President Tokayev underscored the importance of adopting an integrated approach to drive economic growth and enhance citizens’ quality of life. He issued directives to strengthen Baiterek’s efforts to diversify the economy and foster the development of strategically important industries.
|
https://astanatimes.com/2024/01/baiterek-national-holding-reports-stellar-performance-and-ambitious-plans-for-2024/
| 2024-01-31T17:24:22Z
|
blocked_url
|
ASTANA – Kazakh Minister of Transport Marat Karabayev and Romanian Transport and Infrastructure Minister Sorin Grindeanu discussed prospects for expanding cooperation during a Jan. 31 meeting in Bucharest as part of Karabayev’s official visit to Romania, reported News.ro.
Karabayev and Grindeanu addressed collaboration in cargo transportation within Romania-Black Sea-Caucasus-Caspian Sea-Kazakhstan, through which the Trans-Caspian International Transport Route (TITR) or the Middle Corridor passes.
Grindeanu emphasized the significance of using the port of Constanta as an essential transit hub for the movement of goods from the states of the Caspian Sea, Central and Southeast Asia.
The sides signed two documents, including a memorandum of understanding on cooperation in transport and infrastructure and a memorandum on cooperation in air accident and incident investigations.
On Jan. 30, Karabayev held talks with the State Counselor for the Romanian Prime Minister Florin Spătaru at the Global Gateway Investors Forum for the European Union (EU) – Central Asia Transport Connectivity in Brussels.
The parties discussed cooperation in civil aviation and transportation, as well as the development of the TITR and Transport Corridor Europe-Caucasus-Asia (TRACECA) international routes.
Following the meeting, Karabayev invited Spătaru to participate in the New Silk Way Forum, which will be held in June in Astana.
On Jan. 29, Kazakhstan and the EU signed four memorandums worth over 800 million euros (US$865.7 million) at the Global Gateway Investors Forum.
|
https://astanatimes.com/2024/01/kazakhstan-romania-agree-to-boost-cooperation-promote-middle-corridor-route/
| 2024-01-31T17:24:29Z
|
blocked_url
|
ASTANA – Kazakh actor Kairat Kemalov won the Best Actor award for his role in “A Lonely Yurt” movie, based on the novel by Smagul Yelyubai, at the Yarha International Film Festival held on Jan. 14 – 21 in Cameroon, reported Kazpravda on Jan. 30.
The movie, directed by Begars Yelyubai, tells a real story about the trials that befell the residents of a Kazakh village in the 1930s. Kemalov played the role of biy (judge and administrator) Pakhraddin.
In 2022, Kemalov won the Best Actor award at the Korkut Ata Turkic World Film Festival in the Turkish city of Bursa.
|
https://astanatimes.com/2024/01/kazakhstans-kairat-kemalov-wins-best-actor-award-at-yarha-film-festival-in-cameroon/
| 2024-01-31T17:24:35Z
|
blocked_url
|
ASTANA – The Kazakh Defense Ministry explained the differences between the first independent peacekeeping contingent within the mission on the Golan Heights and the previous Kazakh peacekeepers after the Kazakh Parliament approved the deployment of up to 430 servicemen to participate in United Nations (UN) missions on Jan. 19, reported Kazinform on Jan. 30.
Unlike previous Kazakh peacekeepers, 139 military personnel will be deployed to the Golan Heights with their own military equipment, weapons and property as a reserve company to the UN Disengagement Observer Force (UNDOF) under the flag of Kazakhstan, the Defense Ministry said in a response to Kazinform request.
“Previously, the Armed Forces of Kazakhstan sent a peacekeeping contingent as part of the UN Interim Force in Lebanon in 2018 under the command of the peacekeeping battalion of the Indian Armed Forces. That is, the peacekeepers of Kazakhstan took with them only personal weapons and personal property,” the response reads.
According to the ministry, the first contingent within the mission will be deployed for 12 months. The following contingents are also planned to stay on the mission for the same period, which is a UN recommendation for contingents of other countries.
“430 is the maximum number of peacekeepers. However, the Kazakh Armed Forces are not currently sending 430 personnel at once. This is a plan for the medium and long term,” said in response.
Military personnel of the peacekeeping contingent will be paid wages worth three months’ salary for each month of service. Also, the UN will pay monthly maintenance of $1,448.
In case of injury or death of a peacekeeper during a mission in the Golan Heights, their family members will get compensation.
“Payment in the event of the death of a serviceman while on duty totals 60 monthly salaries. The UN rate of death and disability compensation is $77,000. Compensation for injury depends on the degree of damage to health varying from 0.5 to 60 monthly salaries. UN payments are also provided,” the response says.
The ministry reminded that participation in the mission is carried out at the serviceman’s request, and no measures are taken against military personnel who refuse to participate.
“While selecting, the ministry will take into account age of servicemen, terms of military service, military rank, qualifications, health, physical and psychological preparation,” the response says.
|
https://astanatimes.com/2024/01/kazakhstans-peacekeeping-new-role-and-logistics-unveiled-for-un-mission-on-golan-heights/
| 2024-01-31T17:24:42Z
|
blocked_url
|
ASTANA — KazMunayGas (KMG) Chairman Magzum Mirzagaliyev presented a comprehensive report on the company’s operational and financial performance for 2023 and strategic plans to President Kassym-Jomart Tokayev during a Jan. 31 meeting, Akorda press service reported.
KMG is Kazakhstan’s national operator for hydrocarbon exploration, production, refining and transportation.
The data revealed significant growth in crucial production indicators compared to 2022.
One of the notable achievements highlighted was the development of export routes for Kazakh oil. The report outlined the commencement of raw material supplies to Germany and Azerbaijan through the Baku-Tbilisi-Ceyhan oil pipeline. Additionally, the tanker fleet was expanded in collaboration with partners from the United Arab Emirates, enhancing the company’s global reach.
Mirzagaliyev also provided updates on the progress of the offshore project Kalamkas-Sea, Khazar, Auezov in the Kazakh part of the Caspian Sea and the national company’s ongoing geological exploration program.
He also told about the company’s engagement in social projects within the regions of its operation. President Tokayev was informed about the completion of the Astrakhan-Mangyshlak main water pipeline (Phase I) reconstruction and the initiation of construction for a new desalination plant in Zhanaozen.
|
https://astanatimes.com/2024/01/kmg-chairman-presents-2023-performance-and-strategic-plans-to-president-tokayev/
| 2024-01-31T17:24:49Z
|
blocked_url
|
ASTANA – Water scarcity in Central Asia poses a persistent threat to the socio-economic progress of the region, with climate change exacerbating its vulnerability. In an interview with The Astana Times, Genevieve Donnellon-May, a geopolitical and global strategy advisor specializing in regional resource governance and environmental conflict in Asia, proposed a set of measures both at national and regional levels aimed at addressing the growing water crisis in the region.
After the collapse of the Soviet Union, water management has caused disputes in Central Asia due to conflicting needs between the water-rich upstream (the Kyrgyz Republic and Tajikistan) and the fossil-fuel rich downstream countries (Kazakhstan, Uzbekistan, and Turkmenistan). The transformation of water from a potential source of conflict into a strong instrument of cooperation and peace is now a priority for the five countries.
“Competing water uses for agricultural and industrial purposes across the region place even greater pressure on shared water resources. Despite simmering regional challenges and the flaring up of bilateral tensions amid global geopolitical shifts, water security concerns offer a chance for riparian countries to seek cooperation over conflict,” she said.
Donnellon-May is a researcher at the Oxford Global Society, a U.K.-based independent, non-partisan think tank, and the Asia-Pacific analyst at The Red Line podcast.
The primary water sources in Central Asia, the Syr Darya and the Amu Darya rivers account for 90% of the river water in the region and 75% of water utilized in irrigated agriculture. These rivers are managed by the two upstream states, the Kyrgyz Republic and Tajikistan. Both countries view the construction of hydroelectric dams as a crucial means to fulfill their energy needs.
“For governments and policymakers, it becomes harder to make informed, long-term decisions regarding transnational river basins, inadvertently fueling water-related inter and intra-state conflicts concerns,” she added.
Domestic measures
On a national level, countries should implement water demand management measures, said the expert. Donnellon-May presented four types of incentives – technologies to address water losses, economic instruments, non-price mechanisms, and alternative water supply systems.
“These include addressing water losses through the technology usage for leak detection and repairs, implementation of programs aimed to identify, remove, and replace illegal connections; economic instruments – rebates or incentive schemes for consumption reduction through water bills, a tariff structure with adequate subsidies for lower income earners; non-price mechanisms, like household consumption guidelines, the use of water efficiency appliances, public education campaigns on saving water; and alternative water supply systems, for example, a harvested rainwater, desalination, and treated wastewater for both drinking and non-drinking purposes,” she said.
Speaking about alternative water supply systems, the expert noted that some Asian countries, such as Singapore and Australia, have already undertaken steps to improve their water security through diversification. In this regard, these states can “share best practices and knowledge with Central Asian countries and vice versa.”
Hydro-diplomacy in Central Asia
“Regionally, while neither basin-wide treaties nor river basin organizations may appear at this stage, there are measures that countries can undertake to improve this situation, simultaneously reducing rising geopolitical tensions,” she said.
The exchange of hydrological data in real-time is a key consideration in terms of raising awareness of upstream and downstream developments in river basin countries, according to her.
“It enables timely responses to water-related challenges, such as droughts, flooding, and water pollution. Other measures include joint monitoring of shared rivers and lakes, biannual water forums, regular discussions of planned and proposed hydro-engineering projects, and conferences on river basin management,” said Donnellon-May.
Relevant stakeholders, particularly local communities, governments, researchers, and scientists should attend all the events related to the aforementioned measures, to “ensure that all parties have a voice when it comes to shared water governance.”
“Despite the lack of basin-wide institutionalized cooperation along with China’s mistrust of basin-wide multilateral organizations, China can lead by establishing research initiatives with think tanks, scientists, researchers and their counterparts in the downstream countries to discuss scientific, environmental and technical concerns. This could create a basin-wide platform to discuss shared water challenges and solutions,” she said.
For downstream nations, these developments could open avenues to voice concerns and promote increased cooperation, including multilateral discussions. This could potentially lead to the establishment of a shared framework for river management, offering collective benefits to all countries.
In its report last year, the Eurasian Development Bank (EDB) recommended the region establish the International Water and Energy Consortium of Central Asia, focusing on irrigation and energy projects.
Donnellon-May emphasized a “greater awareness of water and water-related challenges, as well as the interest in solving them.” As a case in point, she brought an example of the One Water Summit scheduled for September 2024, which will be held on the sidelines of the United Nations General Assembly (UNGA) in New York. Co-chaired by France and Kazakhstan, the summit will review a multi-actor approach to international water cooperation.
Green energy and opportunities for nuclear power generation in Kazakhstan
Kazakhstan continues to introduce greener solutions to reduce greenhouse gas emissions and increase the use of renewables.
“While the country produces over 70% of its electricity from its abundant resources of coal, it aims to supply half of its power by 2050 through other sources. The government seeks to reduce Kazakhstan’s greenhouse gas emissions to 15% by 2030 and reach carbon neutrality by 2060,” said the expert.
These goals, Donnellon-May noted, require overcoming the economy’s dependence on cheap domestic coal, addressing high financing costs, low electricity tariffs, and the absence of flexible generating capacity.
The data from the International Energy Agency (IEA) indicates that nuclear power accounts for around 10% of electricity generation globally, rising to almost 20% in advanced economies.
“Kazakhstan, which possesses the world’s second-largest uranium reserves, accounting for 14% of the global total, has significant potential to develop its own nuclear power generation. The consistent and reliable source of baseload electricity from nuclear energy could go hand in hand with renewable energy sources in helping Kazakhstan achieve its energy goals,” she said.
At the same time, the expert underscored the need to pay special attention to public concerns, including projected high water consumption for cooling, “which could exacerbate water stress or scarcity, environmental and ecological concerns, and overall costs of a nuclear power plant.”
Food security in Kazakhstan
“In recent years, global conflicts, supply chain disruptions, climate change impacts, and the COVID-19 pandemic, have caused fluctuations of food supplies in both availability and prices in global markets, especially for grains and edible oils – the backbone of food security,” said Donnellon-May.
Kazakhstan is the ninth largest country in terms of landmass with 74% of its territory suitable for agriculture. To meet the demands of a burgeoning global population, major agricultural producers like Kazakhstan will face increasing pressure, as global food production is required to rise by 60-70% by 2050.
“Future demographics and the rising middle classes in Asia and Africa, alongside concomitant growing food demands, including for more expensive and diverse food like meat, dairy, sugar, and edible oils mean that there is increasing pressure on global agrifood systems to meet demand,” she said.
From her perspective, as a regional economic powerhouse with strategic importance, Kazakhstan has the potential to develop the agri-food sector and increase its exports to the Middle East, Europe, and the rest of Asia.
“In addition to increasing the production and exports of wheat, Kazakhstan’s largest crop by acreage accounting for 80% of grain production, the country could also increase its production and exports of soybeans, barley, corn, rice, flax seeds, sunflower seeds, sugar, vegetables, and fertilizers,” she noted.
Donnellon-May stressed the country’s capacities for the production growth of fats and oils, which have a “very high added value level, as well as flour products, high-protein feeds, and also food processing and manufacturing.”
Government policies are the blueprint for the diversification of crop areas and subsidy assistance for the cultivation of crops and oil seeds, as well as for food processing.
“Furthermore, discussions and forums could be organized by national and regional governments, as well as by chambers of commerce to attract foreign direct investment (FDI) in Kazakhstan’s agricultural sector and to encourage the establishment of joint and cross-border agricultural projects between foreign and local agribusinesses,” she said.
Despite emerging opportunities, the implementation of agricultural projects faces a raft of challenges amid a fractured geopolitical environment. Notably, water scarcity stands out as a major one.
“Agricultural irrigation is responsible for as much as 70% of water consumption, making agriculture an incredibly water-intensive sector. To address this, farmers could use water-saving technologies and techniques, such as drip irrigation, to help reduce water consumption and ensure that it is used more efficiently and sustainably,” said Donnellon-May.
On Jan. 29, Kazakhstan joined the Convention on the Law of Non-Navigational Uses of International Watercourses, known as the United Nations (UN) Watercourses Convention, which creates mechanisms for resolving possible disputes over water allocation and interstate cooperation for the development of water resources.
|
https://astanatimes.com/2024/01/oxford-researcher-suggests-measures-to-address-central-asias-water-crisis/
| 2024-01-31T17:24:55Z
|
blocked_url
|
Products
Coming soon
Check out launches that are coming soon
Product questions
Answer the most interesting questions
Launch archive
Most-loved launches by the community
Newsletter
The best of Product Hunt, every day
Popular products in...
AI
No Code
Social Media
E-Commerce
Analytics
All topics
Web3
Design Tools
Developer Tools
Marketing
Finance
Categories
Community
Discussions
Ask questions, find support and connect
Stories
Tech news, interviews and tips from Makers
Changelog
Release notes from the Product Hunt team
Visit streaks
The most active community members
Hall of Fame
Golden Kitty Awards finalists through the years
Launch Guide
Checklists and pro tips for launching
Collections
Products curated by the community
Marketplace
Advertise
About
About us
Careers
Apps
FAQs
Legal
Sign in
Sign up
Home
→
Product
→
ListBox: Daily Planner
Ranked #13 for today
ListBox: Daily Planner
'If you want something done well, do it yourself"
Visit
Upvote 98
6 month free
•
Free Options
Discuss
Collect
Embed
Share
Stats
10 years on the App Store I tried out A LOT of reminder apps (over 100) and none fully met my needs. So, I decided to learn programming and create the perfect app for myself.
Launched in
Productivity
Task Management
by
ListBox: Daily Planner
About this launch
ListBox: Daily Planner
'If you want something done well, do it yourself"
0
reviews
106
followers
Follow for updates
ListBox: Daily Planner by
ListBox: Daily Planner
was hunted by
911
in
Productivity
,
Task Management
. Made by
911
. Featured on January 31st, 2024.
ListBox: Daily Planner
is not rated yet. This is ListBox: Daily Planner's first launch.
Upvotes
98
Comments
6
Day rank
#13
Week rank
#48
Report
|
https://www.producthunt.com/posts/listbox-daily-planner
| 2024-01-31T17:38:19Z
|
blocked_url
|
Tom Alweendo, Namibia’s Minister of Mines & Energy, has issued a clarion call to Western nations to rethink their strident opposition to fossil fuel investment in Africa and to put “their money where their mouths are” if they believe renewables are the only route towards economic growth for the continent.
An increasing number of western financial institutions are refusing to fund fossil fuel schemes in Africa, jeopardises the continent’s need for economic growth and security, poverty alleviation, job creation for a rapidly growing population and switching 600 million people away from burning biomass.
|
https://www.upstreamonline.com/energy-transition/no-nation-has-achieved-industrialisation-solely-through-solar-or-wind-power-namibia-energy-minister/2-1-1591370
| 2024-01-31T17:55:40Z
|
blocked_url
|
Brazil's Petrobras has issued a second tender to contract complementary maintenance and repair work at a plethora of production platforms operating at ageing fields in the country’s Campos basin.
Petrobras is set to welcome bids this Wednesday in a separate bidding opportunity to select companies to carry out integrated industrial maintenance services at 19 production units in Campos.
The latest tender, which according to a source will feature additional refurbishment activities at the same 19 platforms, will have contractors submitting proposals at a later date — 22 February.
|
https://www.upstreamonline.com/exclusive/petrobras-targets-extra-maintenance-for-platforms-at-ageing-fields/2-1-1591433
| 2024-01-31T17:55:46Z
|
blocked_url
|
The Norwegian government has kicked off its 2024 licensing round for new offshore exploration blocks, with the Barents Sea dominating the number of permits being offered.
The Ministry of Energy said on Wednesday that 37 new blocks are available in the APA 2024 round (awards in predefined areas) of which 34 are in the southern Barents Sea and three in the Norwegian Sea.
|
https://www.upstreamonline.com/exploration/barents-sea-dominates-norway-s-latest-exploration-offering/2-1-1591361
| 2024-01-31T17:55:53Z
|
blocked_url
|
The UK regulator has awarded a total of 24 exploration licences to a group of 17 companies including European oil majors Shell, Equinor, BP and TotalEnergies in its latest lease sale for North Sea oil and gas exploration acreage.
The awards announced on Tuesday by the North Sea Transition Authority (NSTA) add to the batch of 27 licenses the authority offered to explorers in the first stage of the process last October.
On Tuesday, the regulator said it had awarded a total of 74 blocks for exploration.
Both sales are part of the UK’s 33rd oil and gas licensing round launched in late 2022, with over 900 blocks made available to interested bidders.
The blocks on offer cover exploration areas spanning the Central North Sea, Northern North Sea, and West of Shetland areas.
A group of remaining blocks, mostly in the Southern North Sea and East Irish Sea, could be put to market at a later date once environmental assessments have been completed.
“This latest batch brings total offers so far to 51, with more to come once the appropriate environmental checks are complete,” commented the NSTA.
The regulator said the exploration activity has “the potential to make a significant contribution to the UK in energy production” and that it will work with companies to bring the licences into production “as quickly as possible”.
Among the blocks on offer, ten blocks were awarded to TotalEnergies in a partnership with Shell.
Equinor was awarded two licences, one covering five blocks, and another in partnership with Suncor, for nine blocks.
BP was awarded two blocks, as was Shell, aside from the other licence with TotalEnergies.
Other companies awarded licences include Dana Petroleum, Delic Energy, Enquest, Apache Beryl, Anasuria Hibiscus, North Sea Natural Resources, NEO Energy (in partnership with Ithaca and Shell), Harvester Energy and Orcadian.
|
https://www.upstreamonline.com/exploration/uk-awards-24-licences-for-north-sea-exploration-with-promise-of-more-to-come-/2-1-1591523
| 2024-01-31T17:55:59Z
|
blocked_url
|
State-owned QatarEnergy has confirmed the award of multiple engineering, procurement and construction deals involving the further development of its Al Shaheen oilfield, which aims to boost the nation’s output by at least 100,000 barrels per day of oil.
The Qatari player said in a statement on Wednesday that the award is part of the Ruya project, the third phase of the Al Shaheen development since North Oil Company — a joint venture between QatarEnergy and TotalEnergies — took over the field’s operation in July 2017.
|
https://www.upstreamonline.com/field-development/qatarenergy-confirms-6-billion-contract-awards-for-oilfield-expansion/2-1-1591235
| 2024-01-31T17:56:06Z
|
blocked_url
|
China Oilfield Services (COSL), the nation's leading offshore service contractor, has announced a 20% reduction in its capital spending for 2024, adjusting it to 7.4 billion yuan ($1.02 billion).
This decision marks a strategic shift from the anticipated 9.3 billion yuan ($1.29 billion) expenditure projected for the previous year.
According to a statement released by the Hong Kong-listed company, this year's adjusted capital expenditure aligns with the operating conditions anticipated in 2024.
|
https://www.upstreamonline.com/finance/cosl-slashes-2024-spending/2-1-1591132
| 2024-01-31T17:56:12Z
|
blocked_url
|
US independent Hess reported estimated results for the fourth quarter and full year of 2023, but the company did not issue any additional commentary due to the pending merger with supermajor Chevron.
Hess posted a net profit of $413 million, or $1.34 per share in the fourth quarter of 2023, down 17% from $497 million, or $1.61 per share, in the same period a year ago.
Quarterly results beat expectations, according to consultancy firm TD Cowen. Net revenues fell from $3.05 billion to $3.04 billion.
Oil and natural gas production increased 11% to 418,000 barrels of oil equivalent per day, thanks to strong performance from Guyana and the US Bakken shale.
Net output in the Bakken was up from 158,000 boepd to 194,000 boepd, while production in Guyana from the Liza and Payara fields went from 116,000 barrels per day of oil to 128,000 bpd.
For the full 2023 year, Hess reported a 34% drop in net profit to $1.38 billion from $2.1 billion in 2022. Net revenues were down 8% from $11.57 billion to $10.65 billion.
Oil and gas proven reserves at the end of 2023 stood at 1.37 billion barrels of oil equivalent, up from 1.26 billion boe at the end of 2022.
|
https://www.upstreamonline.com/finance/hess-profit-drops-but-exceeds-analyst-expectations/2-1-1591713
| 2024-01-31T17:56:19Z
|
blocked_url
|
TotalEnergies has struck a deal worth close to $1 billion to acquire a 50% stake held by Austria's OMV in Malaysian player SapuraOMV Upstream, boosting its exposure to the south east Asian nation's E&P sector.
Despite the price the French supermajor is willing to pay beating market expectations by a considerable amount, OMV’s stock price in Vienna hardy moved, rising just 1.5%
|
https://www.upstreamonline.com/finance/totalenergies-pays-900-million-for-omv-s-malaysia-assets-beating-market-predictions/2-1-1591619
| 2024-01-31T17:56:31Z
|
blocked_url
|
OLT Offshore LNG Toscana is taking its floating storage and regasification unit out of service for seven months to undergo repairs to its anchoring system.
The unit’s owning and management company said the Toscana, which has a maximum authorised regasification capacity of 5 billion cubic metres per annum, will undergo extraordinary maintenance at a shipyard, resulting in a shutdown of its plant.
|
https://www.upstreamonline.com/lng/italian-fsru-to-be-taken-out-of-service-for-seven-month-repair-job/2-1-1591148
| 2024-01-31T17:56:38Z
|
blocked_url
|
OPINION: Give Brad Crabtree credit for showing up as scheduled at an oil and gas-heavy forum less than three days after his boss dropped a bombshell on the industry
Crabtree, assistant secretary in the US Department of Energy’s Office of Fossil Energy & Carbon Management, quickly found himself trying to reassure an audience at Baker Hughes’ annual meeting in Florence, Italy this week that President Joe Biden’s order to halt new permits for liquefied natural gas projects was just a pause to give regulators time to update the economic and environmental data used to evaluate LNG export schemes.
|
https://www.upstreamonline.com/opinion/its-2024-of-course-biden-is-playing-politics-with-lng/2-1-1591668
| 2024-01-31T17:56:44Z
|
blocked_url
|
US oil major Chevron is reportedly sending cargoes of Kazakhstan's CPC Blend oil to Asia via the Cape of Good Hope rather than via the Red Sea in order to avoid the risk of Houthi attacks.
Reuters, citing industry sources and LSEG ship-tracking data, said the Kazakh CPC Blend crude is loaded at the Russian Black Sea terminal of Yuzhnaya Ozereevka, near Novorossisk and shipped out to Asia via the Suez Canal.
|
https://www.upstreamonline.com/politics/chevron-pulls-plug-on-red-sea-passage-for-kazakh-oil-heading-to-asia/2-1-1591217
| 2024-01-31T17:56:50Z
|
blocked_url
|
The US has started reimposing some sanctions against Venezuela after the country’s Supreme Court upheld a ban preventing presidential candidate Maria Corina Machado from holding office, upending the opposition’s plans for elections planned for later this year.
Machado won the opposition’s independently run presidential primary last October with more than 90% of the votes, potentially putting her name in a prime position to challenge socialist leader Nicolas Maduro in the election.
Her victory came despite the Venezuelan government announcing a 15-year ban on her running for office just days after she formally entered the race.
On 26 January, the Supreme Court, loyal to Maduro, upheld the ban on Machado and also confirmed the ineligibility of her possible replacement — two-time presidential candidate Henrique Capriles.
The US government last October suspended sanctions against Venezuela after Maduro and his political opponents agreed to terms to a presidential election.
That agreement saw the Administration of US President Joe Biden easing sanctions on Venezuela’s oil sector, allowing Chevron to increase production in the South American nation.
However, following the Supreme Court’s decision, Washington has implemented sanctions against Venezuela’s state-owned gold mining group Minerven, saying US personnel will have until 13 February to wind down any transaction with the company.
“Actions by Nicolas Maduro and his representatives in Venezuela, including the arrest of members of the democratic opposition and the barring of candidates from competing in this year’s presidential election, are inconsistent with the agreements signed in Barbados last October,” said the US State Department in a statement.
As part of the agreement, the US Treasury Department issued a new general licence allowing Venezuela to produce and export oil for the forthcoming six months without limitation.
“Absent progress between Maduro and his representatives and the opposition Unitary Platform, particularly on allowing all presidential candidates to compete in this year’s election, the US will not renew the licence when it expires on 18 April,” added the US State Department.
Chevron was hopeful on continuing increasing production in Venezuela after Washington temporarily suspended sanctions against the country’s oil sector.
Chevron was producing close to 150,000 barrels per day of oil in Venezuela late last year – more than twice the 60,000-bpd figure from earlier 2023.
|
https://www.upstreamonline.com/politics/us-reimposes-some-sanctions-on-venezuela-but-nothing-on-oil-yet/2-1-1591495
| 2024-01-31T17:56:57Z
|
blocked_url
|
Azerbaijan’s state owned oil and gas producer Socar is to be partially privatised under surprise plans announced by the government ahead of snap presidential elections to be held on 7 February.
The plans, which also involve Socar’s downstream and petrochemical subsidiaries, mark a reversal of government policy.
Metin Eynullayev, head of the country’s state property agency, announced on Tuesday that the government is preparing terms for the sale this year of minority stakes in Socar and the subsidiaries, together with state-run enterprises from other industries.
Eynullayev referred to a decree signed at the end of the last year by Azerbaijan’s long-serving President Ilham Aliyev, instructing the agency to submit detailed proposals on how Socar and other state-owned companies could be privatised to help attract foreign investments.
The government has to draft the proposals within the next nine months, Eynullayev was quoted as saying by Baku-based news agency Trend.
The Azerbaijan government wholly owns Socar, which has always been designated as a vehicle for representing state interests in the country’s foreign-led oil and gas developments.
Previous claims that the state would ever look to reduce its shareholding in the company have until now always been met with strong denials by senior government officials.
Eynullayev said that, as well as Socar’s main oil and gas business, foreign and domestic investors will be offered stakes in the company’s downstream subsidiaries, such as a methanol plant and its polymers and petrochemical manufacturing units.
The government has set ambitious goals to expand Socar involvement in pipeline and liquefied natural gas deliveries, as well as oil products distribution and retail operations on foreign markets.
It has also instructed the company to increase its existing shareholdings in the country’s large foreign-led developments and operate several smaller fields on its own.
Socar is due to become the largest shareholder in Azerbaijan’s leading oil and gas development — the Azeri-Chiraq-Guneshli project — later this year with a stake of 32%, after finalising a deal to buy Norwegian major Equinor’s shareholding in the scheme.
The project is operated by UK supermajor BP, which holds a stake of more than 30% in the development.
One long-term Azerbaijan oil and gas sector insider suggested that government authorities have been quietly preparing Socar for privatisation since 2021, by replacing long-serving industry heavyweights at the company’s top positions with younger technocrats more willing to follow state orders.
However, a partner at Baku-based energy consultancy Ilham Shaban said the government has decided to reduce its stake Socar and other key industry sectors in an effort to help create a larger number of privately held companies and increase “efficiency and competition” throughout the nation’s economy.
Just one Azeri-owned privately held producer currently operates in the country, he noted.
Another factor behind the privatisation decision could be the government’s aim to reduce direct and indirect state subsidies for the country’s energy sector, and the upcoming liberalisation of its electricity market away from state regulation, Shaban added.
|
https://www.upstreamonline.com/production/azerbaijan-plans-to-privatise-slice-of-state-oil-company/2-1-1590946
| 2024-01-31T17:57:03Z
|
blocked_url
|
After taking Broadway by storm, Sarah Jessica Parker and Matthew Broderick have hopped across the pond to London where they're performing Plaza Suite at the West End.
Respectively, Sarah and Matthew have incredible careers. Sarah may be best known for her role as Carrie Bradshaw, but she's also appeared in classics such as Footloose, Hocus Pocus, and The First Wives Club. Meanwhile Matthew was an icon of the eighties thanks to Ferris Bueller's Day Off and voiced the Adult Simba in The Lion King.
Yet although the couple are both credited in the film Strangers with Candy which came out in 2005, it seems they've never actually worked together despite being married for almost three decades.
So why has it taken them so long to work together?
The couple told all to London's Evening Standard paper, revealing that the main reason they'd never been able to work together was due to childcare issues - something many parents can surely relate to.
Matthew explained the couple tried actively to "not be on the same schedule so somebody could be home".
The couple share three children: James who is 21, and twins Marion and Tabitha who are 14.
Sarah told PEOPLE about the difficulties of having such high-flying careers and raising three kids: "Our lives are unpredictable, and we’re not always here when we want to be. We can’t always do drop-off and pick-up. But I’m proud that our children talk to us in the way they do. I’m glad they’re curious people."
When it came to actually working together, the Ferris Bueller actor explained that outside the production the couple didn't "talk much about the show", as they didn't want to "do the show, talk about it, come back, do the show again, talk more about it."
Sarah explained that more often than not they would talk about "how will we get to a kitchen that’s remaining open."
According to Sarah, she and her husband haven't "spent a night apart" from each other in more than three decades.
Following their first date on March 8 1992, she revealed the couple had "been together" ever since.
"We’ve never spent a night apart since then, with the exception of work on location," she explained on Howard Stern. "Or, his mother was ill for a bit so he went to take care of her. But from that first night, we’ve never been apart."
|
https://www.hellomagazine.com/celebrities/512466/the-real-reason-its-taken-sarah-jessica-parker-matthew-broderick-so-long-to-work-together/
| 2024-01-31T18:05:14Z
|
blocked_url
|
Jennifer Hudson is always finding special ways to honor her late family members, who were victims of a horrific murder over a decade ago.
On October 24, 2008, the talk show host's mother Darnell Donerson, and her brother Jason Hudson were found shot to death in their family home in Chicago, Illinois. Her seven-year-old nephew Julian King was found dead days later in the back of a white 1994 Chevrolet Suburban that belonged to Jennifer's mother.
Now, ahead of her late brother's birthday on February 17, the EGOT winner is finally honoring him in a way that she has always dreamed of.
During Wednesday's episode of The Jennifer Hudson Show, Jennifer announced that she was going to be part of the annual NBA All-Star Celebrity Game, which falls on her brother's birthday.
"It's finally happening!" she exclaimed, declaring: "I have been invited to play on the NBA All-Star Basketball Team!"
"You know I'm a basketball mom right?" she then noted, before explaining: "I always go every year with my son and his cousins. I call them Camp David cause they're all basketball heads."
Jennifer shares her son, who is 14 and graduated from middle school last year, with her ex-fiancé David Otunga. In 2022, she shared photos from her annual "Camp David" trip for the All-Star Game, revealing that David and his friends even got to meet NBA legends Shaquille O'Neal and LeBron James.
MORE: Jennifer Hudson dazzles in black mini dress as she joins Mariah Carey and Ariana Grande onstage
Further detailing how "significant" the date of the game – and being able to participate – is, she said: "[My brother's] birthday was February 17th and he was big on basketball too," adding: "So that makes me a huge basketball fan and in honor of him I always make a point to celebrate his birthday that way."
She also noted that she is of course not only relying on her son for some basketball tips, but really hoping to make him proud. She said: "I've been under my kid's direction, I'm going into training and everything," before admitting: "I'm calling everybody because I've got to make the son proud 'cause I can't get out there and don't know what I'm doing."
MORE: Jennifer Hudson reveals rarely-seen son's reaction to bizarre gift from famous face
Jennifer endearingly declared: "Overall, I cannot shame these kids and I want to make my brother proud on his heavenly birthday."
Four years after the murder of her mother, brother and nephew, Jennifer's former brother-in-law, William Balfour, was sentenced to three consecutive life terms in prison with no opportunity for parole, plus 120 years for aggravated kidnapping and home invasion for the crimes against the Hudson family.
It was revealed during his trial that the murders were motivated by his jealousy of his estranged wife Julia Hudson, Jennifer's sister and Julian's mom, who he had been married to since 2006. Julian was born out of her relationship with Gregory King.
Get the lowdown on the biggest, hottest celebrity news, features and profiles coming out of the U.S. Sign up to our HELLO! Hollywood newsletter and get them delivered straight to your inbox.
|
https://www.hellomagazine.com/celebrities/512468/jennifer-hudson-supported-son-david-bittersweet-milestone-late-brother/
| 2024-01-31T18:05:20Z
|
blocked_url
|
Sophie Turner turned quite a few heads earlier this week when she seemingly went Instagram official with her rumored new boyfriend Peregrine Pearson.
The 27-year-old actress had been spotted with the multi-millionaire on several occasions, and when she shared pictures of her new ski vacation, included him in the very first shot.
However, it looks like the star isn't too hung up about the talk of her new romance, and is leaving her fans absolutely stunned with a brand new look.
Sophie took to her Instagram with a new pair of pictures posing in front of her black Range Rover and dressed in an equally stark black ankle-length gown.
The dress hugged her figure perfectly and was styled with heeled black boots, a simple silver chain, and a pair of sunglasses as she let her hair down and struck a confident pose. "Mom’s spaghetti #rangeroversport," she captioned the post.
Many of her followers were immediately taken by the look and proclaimed her to, once again, be the "Queen of the North," and several others found parallels to the infamous black revenge dress made popular by Princess Diana in 1994.
Earlier in the year, the English star made a surprise move in her legal battle against her musician estranged husband Joe Jonas, as she decided to withdraw the child abduction allegations she previously made, three months following their arrival at an amicable custody agreement.
The legal representatives for both parties approached a federal judge in New York, requesting the dismissal of the actress' earlier accusations, as reported by TMZ.
MORE: Why Hugh Jackman, Sophie Turner, & more 2023 celebrity splits were written in the stars
In September, Sophie had initiated legal action against Joe, 34, seeking to ensure, according to the court documents, "the immediate return of children wrongfully removed or wrongfully retained."
It stated that in December 2022, they had mutually agreed to make the United Kingdom their permanent residence and had gone so far as to look up schooling options for their elder daughter, three-year-old Willa.
Following this agreement, the Game of Thrones star accused the "Sucker" singer of retaining their daughters' passports, thereby preventing them from leaving the United States.
MORE: Learning from Celebrity Relationships: Should you consider premarital relationship counseling?
The X-Men star, meanwhile, went Instagram official with a cryptic post captioned: "Jägerbomb anyone?" that saw her vacationing with Peregrine and their friends.
The foursome posed for several photos, covered in layers of skiing gear, in the snow, on the ski lift, and inside their cozy home, which Sophie ended with a stunning snap of her in a bikini sitting by the pool.
MORE: Sophie Turner and Joe Jonas' family life: everything we know amid divorce
Some of her followers took to the comments section to troll the star with messages about where her two daughters with Joe were (they also share one-year-old Delphine), but she was immediately defended by her many fans who called out the commenters as "misogynistic."
Joe, meanwhile, was most recently seen in India with his brothers Nick and Kevin after headlining the music festival Lollapalooza in Mumbai over the weekend.
Get the lowdown on the biggest, hottest celebrity news, features, and profiles coming out of the U.S. Sign up to our HELLO! Hollywood newsletter and get them delivered straight to your inbox.
|
https://www.hellomagazine.com/fashion/celebrity-style/512467/sophie-turner-curve-hugging-black-gown-after-confirming-romance-peregrine-pearson/
| 2024-01-31T18:05:26Z
|
blocked_url
|
Carrie Johnson headed for a spa day with a friend during the week, and she brought along her young son Frank, six months, with her.
The political consultant headed to The Club, by Bamford in Gloucestershire, with close friend Amy Eleri Hart for a day of pampering, sharing the luscious interiors, before revealing their two very special guests, baby Frank and Amy's adorable young puppy who licked its lips while sat on a pair of towels.
In one adorable photo, baby Frank cuddled up with Amy while in the spa, resting his head on her chest, with Carrie revealing that the tot had already managed to fall asleep. "Frank found the spa so relaxing he passed out instantly," the mum-of-three joked in the caption.
Carrie covered her sleeping son's face with a heart emoji, but revealed that he had been all dressed up in a set of blue dungarees. And Frank wasn't the only sleepy one at the outing, as Amy's new pup could be seen conked out at her side.
Frank looked so much like his father, Boris Johnson, as he dozed away with the young man sporting a mop of blonde hair, although it wasn't as wild as his father's yet!
The star shared several snaps of the inside of the spa complex, including the pristine changing rooms which had a mellowing effect and a relaxation room with wooden armchairs, an incense burner and a unique water feature in the room's centre.
Despite her day of relaxing, it appears that Carrie's day ended with a little bit of exercise as she strolled around a padel court. Padel is a game of Mexican origin that is similar in playstyle to tennis, but like in squash allows a player to bounce the ball off of a wall.
Frank has been joining his mother on her outings and earlier in the month the youngster joined Carrie for a trip to Langan's, a traditional French restaurant located near Hyde Park.
At the end of the day, Carrie shared a snap of her young son as she travelled back to her Oxfordshire home. Alongside a snap of the tot fast asleep in his baby carrier on the train, the star wrote: "Now on the train back home with my very sleepy travel buddy."
Carrie and her group certainly appeared to have the time of their lives during their day out, with the mum-of-three sharing her mouth-watering dinner choices, which included the "best fish" for a main and a succulent dark chocolate ice cream for dessert.
The political consultant has a close bond with her youngest son, and in a recent snap, the duo looked so sweet as they snuggled into each other whilst little Frank snoozed. Alongside the photo were the words: "The nights are long, but I sure will miss these cuddles."
SEE: Carrie Johnson's daughter Romy's vibrant blonde locks take centre stage in sweet countryside photo
MORE: Carrie Johnson reveals romantic gesture for husband Boris at lavish family home
|
https://www.hellomagazine.com/healthandbeauty/mother-and-baby/512463/carrie-johnson-son-frank-dad-double-spa-day/
| 2024-01-31T18:05:32Z
|
blocked_url
|
Celine Dion is a doting mom-of-three and family is everything to her. The My Heart Will Go On hitmaker shares sons René Charles, 23, and twins Eddy and Nelson, 13, with late husband René Angélil, and has largely kept them out of the spotlight in order for them to have as normal a childhood as possible.
Now though, the star will be leaning on her kids more than ever as she battles Stiff Person Syndrome, which has resulted in her taking a step back from the spotlight.
The star is the sole parent to her children following the tragic death of husband Renè in 2016, following a battle with throat cancer. From what Celine has said about parenthood, and from what is known about her three children, it's clear they have a very close bond.
She once told the Daily Mail back in 2013: "‘In the morning one of my biggest pleasures is to have my kids round me and coffee with double cream, no sugar. I hold the cup like it’s a little bird nest. It comforts me. At night I go to bed and my kids are sleeping and I can’t wait for tomorrow to have my coffee and my kids. It’s the simple pleasures of life that make the most sense."
Celine Dion's oldest son René Charles
Celine and René welcomed their oldest son in 2001, on January 25. René was named after his father, and was at the time, referred to as the star's "miracle child", as she conceived him following a round of IVF.
Since her husband's death, Celine has been navigating the ups and downs of the teenage years with her firstborn, but it sounds like René Charles has made it incredibly easy!
In an interview on Lorraine in 2019, the star opened up about trusting her son. She said: "As any teenager, they have to try things because if you say no to so many things ― they will turn around and still do them. So I am giving him more space. I trust him. He does stuff sometimes that I have to say, not necessarily agree with what he chooses to try, but as long as he's using his intelligence and his mind and brain, I trust him."
In the same interview with Lorraine, Celine said of her firstborn: "His dad's sending him good energy. I told him that I will always have my heart and my hand for him to hold onto because we love him so much and we wish him the best in whatever he decides to do in life as long as he’s happy, because he's a great human being."
René Charles is also very sporty, with Celine revealing to People back in 2015 that he was "very athletic" and that he loved to play golf and hockey.
He is also following in his mom and dad's footsteps in the music industry. He released two songs on SoundCloud in 2018, which went to No. 1 and 2 on the platform's R&B & Soul New & Hot chart. The talented musician spoke to the Montreal Gazette about his music soon after they were released, telling the publication about the moment he played the songs to his mom for the first time. "I just felt like keeping it on the low. But she loved it. She was just kind of stunned at first, because she'd never heard anything from me," he revealed. Since then, René Charles has released an EP, Casino.5.
Celine was more than proud, writing on Instagram at the time: "I'm so proud of my son. My love for him is so strong, and it touches me deeply that one of his passions is also one of mine."
Celine Dion's twins Eddy and Nelson
Celine and René welcomed twin boys Eddy and Nelson in October 2010, following six rounds of IVF and a miscarraige. The boys were both given very special names, in tribute to people close to the couple.
Eddy was named after Eddy Marnay, who produced Celine's first five albums. The star considered Eddy to be a father figure, with her rep saying at the time: "He was like a father to her. Eddy is a major influence in both Celine and Rene's lives."
Nelson was named after Nelson Mandela, who Celine met while on tour. The rep added: "Céline and René want their children to be inspired by their names, because they were so inspired by these men."
The twins couldn't be more different when it comes to their personalities. Talking to HELLO! in November 2010, she said: "One is more gutsy than the other. Nelson seems to have a little stronger personality right now. He’s the tougher of the two. They are fraternal twins, but they look very alike. Nelson weighed more at the birth, but the doctor told us in a week or two, they’re going to be the same."
She went on to tell the Daily Mail in November 2013: "“They have very different personalities but both of them love to wake up first thing in the morning and go to their closet and decide what they will wear." Celine also previously said that Eddy and Nelson were both "mature for their age" during a Q&A session in 2019.
Read more HELLO! US stories here
Get the lowdown on the biggest, hottest celebrity news, features and profiles coming out of the U.S. Sign up to our HELLO! Hollywood newsletter and get them delivered straight to your inbox.
|
https://www.hellomagazine.com/healthandbeauty/mother-and-baby/512465/celine-dion-three-children-everything-we-know/
| 2024-01-31T18:05:38Z
|
blocked_url
|
Michelle Keegan has always been "goals". Whether it's her stunning makeup looks, glamorous hairstyles or her fashion statements – she's always caught the eyes of the masses.
And so it made perfect sense when she teamed up with fashion brand Very to create her own range of clothing, but the actress has also branched into homeware.
For those who follow Michelle and her husband Mark Wright closely, they'll know that the famous couple bought a plot of land back in 2019 and built their dream home from scratch.
The result? A staggering mansion worth £3.5 million that most of us could only dream of.
Fans might be pleased to know that they can bring an element of Michelle's style and taste into their own abodes. So I thought I'd give it a go for myself…
How I styled my flat to look like Michelle Keegan's home...
Disclaimer alert: I (sadly) do not, it may or may not surprise you, live in a 15-bedroom mansion worth millions of pounds. I happen to reside in a humble one-bedroom flat.
Of course, I don't have a kitchen the size of a small restaurant, nor do I have a full-size swimming pool in my back garden. This, obviously, won't be a like-for-like comparison.
However, I refuse to let a lack of generous square footage prevent me from making my house feel like a cosy home that feels personal and unique to me. Adding touches of style needn't take up floor space, budget or months of renovation.
Michelle's collection on Very has loads of stunning pieces. I opted for the ones that felt the most 'Michelle' while still being ones I'd choose based on my own style and preference, and I love the sophisticated element they bring.
Looking at their home, it's clear the husband and wife have opted for neutral tones throughout. Upon first glance, I do have a bit more colour in my flat (splashes of green and rust orange is my go-to) but there are plenty of neutral elements, too. Browns and beige hues are certainly a favourite of mine.
The 'Tullio Natural Lamp' looks so gorgeous on my bedside table. The clear, glass lamps with the chord showing through them are all the rage right now and I love how it has this effect while also having a nice pattern, too.
To keep things quite minimal, a la Michelle, I placed it next to a simple frame and reed diffuser, much like the star has done in one corner of her home.
It's also clear that foliage is a big thing in their home. Having house plants has been said to improve overall wellbeing and mental health and it's a great way of bringing nature indoors, particularly when, like myself and millions of others up and down the country, you don't have a huge garden or acres of land to enjoy on your doorstep.
MORE: 'I furnished my one bedroom flat for under £1k' - here's exactly how I did it
And so the tall 'Chiara Glass Vase' was so up my street. The bronze-tinted hue is so gorgeous and even a bit mid-century. I threw in some tall hyacinths for good measure. Obsessed.
The pièce de resistance, however, is the set of three cement candle holders. I must say, they look very chic indeed nestled by my window.
I am a bit of a candle obsessive. And I will use any excuse to make some look even prettier than they already do. These holders just elevated the whole design to a new level.
I had a bit of a play around and placed them first next to the lamp, before settling them on my windowsill next to the tall vase, and they complement each other beautifully.
Candles are also a big thing at Mark and Michelle's abode, and we love that they've got similar-looking ornaments on their coffee tables to the ones in the Very collection!
I'll have to keep dreaming when it comes to living in a house like Michelle's anytime soon, but I'll always have those dreamy candle holders.
|
https://www.hellomagazine.com/homes/512462/i-styled-my-small-flat-to-look-like-michelle-keegans-mansion-and-im-converted/
| 2024-01-31T18:05:44Z
|
blocked_url
|
I love my car. No really. I absolutely adore it. Sure I don’t really know anything about my little Peugeot, other than the fact it’s blue and you push the pedal to make it go, but my little run-around is the best thing I’ve ever spent money on.
Not because it’s flashy or powerful or anything like that. I love it because, for a long time, my car was the only place in this world that was mine. It was a space of my own where I could exist without anyone else peering over my shoulder - somewhere to take me to awesome places but also for me to take a minute and just be.
Growing up in a small house with a big family, I’ve never really had a lot of privacy. From the day my little sister was born to the day I moved out at 24, I had to share a bedroom. Which honestly was fine most of the time. There wasn’t a lot I could do about it, but there were days when I was desperate for just a minute of peace away from the hustle and bustle.
This peaked when I first started seeing my then-boyfriend. I was constantly to-ing and fro-ing between his house and mine. He lived with his parents too, and though they were so kind and welcoming, I was still always a guest in someone else’s house.
It felt like I was constantly on my best behaviour, and even when it was just him and me alone in his room, it was still HIS room. It was his bed, his furniture, his stuff. My drawer of spare clothes and my toothbrush didn’t do much to stake my claim.
So that’s where my car came in. Combine the constant back and forth between two houses, as well as living out of a suitcase at least 50% of the time, my car legitimately stopped me from going mad. It became my sanctuary: my on-the-go storage unit and room-on-wheels where I could do whatever I wanted.
I’d keep bags of belongings in the boot so I’d always have things with me if I needed them - at one point every coat I owned lived on the backseat. It was also the one place I had control over. If I wanted to leave it messy, I could. If I wanted to decorate it with pink car mats and fluffy dice then more power to me!
Not only that but in an area of poor public transport, it was my freedom and independence. I could go wherever I wanted without having to beg my Dad for a lift. Even now I will always choose to drive somewhere. Sure, I could read more books on the train, but there is something about a long drive blasting music that just fills me with joy.
My car became more than just a way to get from A to B; it literally was a haven during a part of my life that had a lot of good times, but also a lot of challenges with my mental health and family matters. Though I have my own house now and don’t need that lifeline anymore, if I don’t have my car I start to panic. Not having it sitting on the drive makes me feel so trapped with the freedom to go anywhere taken away from me.
HAPPINESS: How to find happiness after heartbreak - from someone who's been there
I know it sounds silly, but for a long time, it was me and my little Peugeot against the world. Having my car got me through some tough times. And even now sometimes I find myself just parking outside my house and just sitting there before going in to embrace whatever chaos is waiting for me indoors. I may have my own space and feel a lot more settled in my life, but my car is still something I can’t ever imagine living without.
|
https://www.hellomagazine.com/news/512453/why-my-car-is-my-private-sanctuary/
| 2024-01-31T18:05:50Z
|
blocked_url
|
Air China Cargo made four flights from Urumqi to Minsk, Belarus between 8 and 11 January, likely delivering military equipment, reports Belarusian monitoring group Belarusian Hajun. On each of four days, the same Boeing 747 freighter (registration number: B-2476) touched down in Minsk carrying unknown cargo at around 9:30-10:10 a.m. local time and departed roughly three hours later on each trip, which is enough time to unload the military shipment, Hajun suggests.
In contrast to regular cargo flights that make use of Minsk Airport’s logistical facilities, B-2476 consistently parked at the designated spot reserved for aircraft transporting Belarusian officials. Satellite imagery confirms that during its four visits, the Chinese aircraft occupied this exclusive government ramp. This VIP stand is positioned apart from other facilities, enhancing security and enabling the freighter to bypass customs control procedures.
According to Belarusian Hajun, B-2476 delivered military equipment from China to Belarus without undergoing customs clearance. The cargo quickly left the airport to avoid attracting attention, as there was limited space for military cargo parking.
Chinese CS/VN3 Dajiang (“Dragon”) armored vehicles have been in service with the Armed Forces of Belarus since 2017. This possible delivery of Chinese armored vehicles to Belarus is reminiscent of a previous shipment in 2018 shown on Belarusian TV when a similar cargo aircraft from Air China Cargo was used. A Boeing 747 may well bring at least four or five such armored vehicles on a single flight, according to the monitoring group.
Also, Belarus utilizes Chinese parts in its domestic Polonez multiple rocket launch systems.
“It’s still unknown what exactly was brought by the four boards this time. But everything points to the fact that it is a military cargo,” Belarusian Hajun concludes.
Ukrainian military portal Defense Express reports that there is a possibility of China “secretly” supplying weapons through Belarus that will eventually end up in the Russian army.
“But it is more likely that the Chinese airplane brought weapons for the Belarusian armed forces”, Defense Express says.
What we know about China and Belarus’ role in the Russian invasion of Ukraine:
- Officially, China denies providing military assistance to Russia. However, according to the US Department of Defense, Chinese companies (including state-owned ones) have sold dual-use products, small arms, drones, navigation equipment, and protective gear to the Russian military.
- In November 2023, the Ukrainian Security Service destroyed Russia’s far-east railway tunnel — reportedly the only significant rail link between Russia and China — cutting off a crucial weapon supply channel.
- Despite not declaring war on Ukraine officially, Belarus has been Russia’s top ally in its invasion since February 2022. The European Parliament recognized the Belarusian regime as an accomplice to Russian war crimes, including Ukrainian children’s deportation and the firing of missiles at Ukraine’s residential areas in the early stages of the war.
- As of September 2023, only one Russian fighter jet and 2,100 Russian troops remained in Belarus. This is not enough to invade again, however, Belarus doesn’t cease to support the aggressor country, so this area continues to be reinforced and mined along the entire borderline.
- Russia reportedly delivered some of its nuclear warheads to Belarus last fall, according to Ukrainian military intelligence.
Read more:
|
https://euromaidanpress.com/2024/01/31/belarusian-monitoring-group-suspects-chinese-military-deliveries-to-minsk-by-air-china-cargo-jets/
| 2024-01-31T18:05:57Z
|
blocked_url
|
Ukraine lacks weapons to protect its cities as vital EU and US assistance is being held by political disputes, and while President Volodymyr Zelenskyy fights with his commander-in-chief over military strategy, as per Bloomberg.
According to Western officials familiar with the conditions on the frontlines, the situation on the battlefield is increasingly dire, with Kyiv’s forces struggling at times to hold back Russian troops.
In addition, a European diplomat says that Ukraine’s air defenses, which rely heavily on expensive interceptors provided by the allies, weren’t able to destroy as many targets as in the past in the recent Russian missile attacks.
While Ukrainian officials say that they will keep up the fight against Russia’s invasion forces even if allied support doesn’t come through, in reality, the country doesn’t have enough artillery and air-defense munitions to supply all of its military units.
This week, European defense ministers will meet in Brussels to discuss the need to boost the bloc’s defense industry and its military aid to Ukraine.
In 2023, the EU pledged to supply Ukrainian armed forces with 1 million rounds of ammunition.
European allies are expected to miss their promise of providing the ammunition, delivering only about 600,000 by 1 March. The ministers may seek to count other supplies to boost the total, but still won’t reach the 1 million goal, according to the diplomats.
The sources said that even if EU aid does come through, the lack of US support would be felt by Ukrainian forces on the battlefield by late spring 2024.
The challenges have also grown due to the tensions between Zelenskyy and his military chief, Valery Zaluzhnyi, as the front lines have stagnated, according to Western diplomats.
Read also:
- EU market chief aims for €100 bn EU defense fund, ensures million shell production for Ukraine by spring
- Reuters: Ukrainian troops on “active defense,” can still surprise, Ukraine ground commander says
- Defense Ministry: Ukraine ramping up production of kamikaze drones due to shell shortages
- Mapping North Korea’s discreet artillery ammo route to Russia
- Ghost ships reveal North Korea’s secret arms trade with Russia, posing threat to Ukraine – Bloomberg
- Ukraine orders millions worth of artillery ammo from Rheinmetall
- German Defense Minister promises to improve ammo production for Ukraine
- Finland plans to boost artillery shell production for Ukraine
|
https://euromaidanpress.com/2024/01/31/bloomberg-western-diplomats-warn-that-without-us-aid-ukrainian-army-to-confront-significant-challenges-by-late-spring/
| 2024-01-31T18:06:37Z
|
blocked_url
|
Ukraine and its key supporters are advocating for NATO to formally invite Kyiv to join the military alliance at an upcoming summit, but these efforts are encountering notable opposition from the United States and Germany, “according to a dozen current and former officials familiar with the matter,” Foreign Policy says.
Kyiv enjoys support from Eastern European NATO member states, including Poland and the Baltic nations, who see Ukraine’s NATO membership as an effective and economical means to counter Russia’s territorial ambitions in Eastern Europe, FT notes.
However, the US and Germany, as major contributors of military and economic assistance to Ukraine, maintain their commitment to Ukraine’s eventual NATO membership, yet they emphasize that the current moment is not conducive to initiating the NATO membership process. Instead, their priority lies in providing Ukraine with continued support in the form of weapons and ammunition to sustain its ongoing struggle against Russia in the short term, according to FT.
Ukraine’s NATO aspirations
In Vilnius on 11-12 July last year, a historic NATO decision affirmed Ukraine’s future membership, but Ukraine did not receive an invitation. To join NATO, Ukraine must undertake security and political reforms. However, it remains uncertain whether Washington and 32 other allies, including Sweden, will agree on the next steps.
Bucharest+, Budapest+: seven things Ukraine brings home from the NATO summit in Vilnius
Last year’s opinion poll by Rating Group showed that 83% of Ukrainians in Ukraine and 86% of those living in Europe support NATO membership. Only 6% of Ukrainians in Ukraine and 4% in Europe are against joining the Alliance.
The Gallup poll conducted in October 2023 highlighted that 69% of Ukrainians believe they will join NATO within ten years. This optimism extends to the country’s European Union accession as well, with nearly three in four individuals foreseeing a successful bid.
While Ukraine is progressing toward NATO membership, President Zelenskyy’s proposal for further action awaits a decision.
Next NATO summit may also not extend invitation to Ukraine to join the Alliance
In an interview with LRT RADIO, NATO Assistant Secretary General for Political Affairs and Security Policy Boris Ruge said that Ukraine may not be invited to join NATO this year:
“The next step would be an invitation, and it’s not clear whether we will see such an invitation in Washington. I think we have to acknowledge that there’s a debate going on in many NATO member states, that there are elections in NATO member states in 2024,” he said.
As the US Congress Republicans continued to delay the approval of a new Ukraine aid package for months, US President Biden cautioned Congress leaders that curtailing assistance for outgunned Ukrainian forces risks a spillover of hostilities into neighboring NATO countries, thereby obliging US troops to directly confront the Russians.
Supporters like former NATO Secretary General Anders Fogh Rasmussen argue that not inviting Ukraine would give Putin veto power over NATO expansion and “gives him an incentive to continue hostilities in Ukraine indefinitely.”
However, some officials think inviting Ukraine too soon could trigger a full-scale NATO-Russia war, FT says, given the Alliance’s collective defense clause that calls for all NATO members to defend any one nation that has been attacked.
Earlier, US Secretary of State Antony Blinken said Ukraine “will become a member of NATO” but did not give a timeline.
During last year’s NATO summit, Ukraine’s Foreign Minister Kuleba said that the United States and Germany are the most conservative about Ukraine’s future membership in NATO. He also noted no clarity on the conditions of future NATO membership for Ukraine – what those should be and by whom they should be formulated.
Read also:
- NYT: Russian attack on NATO looms as Trump threatens to abandon alliance
- Telegraph: Russian military spending seven times higher than NATO average
- NATO inks $ 1.2 bn deal for 220,000 shells to resupply allies, Ukraine, but delivery could take years
- NATO countries must prioritize security of their societies to defeat Russia, Zelenskyy says
- CNN: Biden warns top lawmakers that US soldiers on the line if Russia-Ukraine war expands into NATO territory
|
https://euromaidanpress.com/2024/01/31/fp-us-germany-push-to-delay-ukraine-nato-membership-invite/
| 2024-01-31T18:07:17Z
|
blocked_url
|
Andris Sprūds, the Defense Minister of Latvia, outlined the ways how the EU can supply Ukraine with the promised 1,000,000 artillery shells.
In March 2023, the EU had committed to supplying 1 million artillery rounds to Ukraine over a 12-month period, yet the bloc is unlikely to meet the goal.
Giving his remarks before an informal meeting of EU Defence Ministers in Brussels on 31 January, Sprūds said:
“I think there are several tracks how we can do it. Of course, we should look actively what we can provide from our stocks, […] then in a long term perspective [we should] develop our industry, our industrial capacity, and of course also we should look for joint procurement including in Europe but also beyond Europe. So there are several ways how we can provide this one million [of shells for Ukraine]. I’m very optimistic and sure that in the near time we’ll be able to put together the one million. If not immediately by the end of March, […] but certainly in the near time in the coming months,” Andris Sprūds said.
Read also:
Earlier, EU foreign policy chief Josep Borrelll said the EU could still hit goal of 1 million artillery shells for Ukraine if it redirects its exports, as 40% of EU shells are exported to third countries.
EU Internal Market Commissioner Thierry Breton also believed that the EU can manage to meet the deadline:
“I believe we have to have a huge defense fund to help to accelerate, even probably in the amount of €100 billion,” he claimed.
Read also:
- EU market chief aims for €100 bn EU defense fund, ensures million shell production for Ukraine by spring
- Sweden to boost 155mm artillery ammo production for Ukraine
- EU commissioner advocates for redirecting 40% of EU ammo exports to fulfill Ukraine’s million-round need
- Borrelll: EU could achieve 1 mn artillery goal for Ukraine by redirecting exports
- EU (predictably) admits it will fail artillery shell pledge for Ukraine
- Lithuania: EU supplied Ukraine with only 300,000 shells, while DPRK already sent 350,000 to Russia
|
https://euromaidanpress.com/2024/01/31/latvian-defense-minister-outlines-steps-to-supply-ukraine-with-1000000-artillery-rounds/
| 2024-01-31T18:07:57Z
|
blocked_url
|
Captain Velvet Meteor: The Jump+ Dimensions Headed to Xbox Series X|S and PC on March 1 - News
by William D'Angelo , posted 2 hours ago / 260 ViewsPublisher Shueisha Games and developer Momo-pi have announced the tactical adventure game, Captain Velvet Meteor: The Jump+ Dimensions, will launch for the Xbox Series X|S and PC via Steam and Microsoft Store on March 1 for $24.99.
The game first released for Nintendo Switch in July 2022, and for iOS and Android via the Crunchyroll Game Vault in November 2023.
View the Xbox Series X|S and PC release date trailer below:
Read details on the game below:
Captain Velvet Meteor: The Jump+ Dimensions is a tactical adventure game. Gameplay is divided between free-roaming exploration segments and strategic battles with light puzzle and stealth elements.
Damien is an extremely creative and imaginative teenager born in a binational French-Japanese family. Damien’s personal world shatters when his parents tell him that they decided to leave France to go live in Japan, a country he mostly knows about from all the manga he reads. Damien will have to call upon his superhero persona, Captain Velvet Meteor, to cope with the anxiety of being in a completely new place. He will face his fears and grow up through the power of his imagination by calling upon his favorite Jump+ characters to help him on his quest to escape a mysterious planet and an unknown monster army.
Features:
- Free-roaming exploration highlighted with tactical battles.
- Partner with popular characters from Jump+, like HEART GEAR and Monster #8.
- Moving story about adapting to life and finding yourself.
- Amazing and colorful art.
Participating Titles / Characters:
- Part 1 – Monster #8 / Kafka Hibino
- Part 2 – HEART GEAR / Chrome
- Part 3 – Slime Life / Slime
- Part 4 – Hell’s Paradise: Jigokuraku / Gabimaru
- Part 5 – Summer Time Rendering / Ushio Kofune
- Part 6 – ‘Tis Time for “Torture,” Princess / Princess & Ex
- Part 7 – GHOST REAPER GIRL / Chloe Love
- Part 8 – SPYxFAMILY / Loid Forger
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
|
https://www.vgchartz.com/article/459786/captain-velvet-meteor-the-jump-dimensions-headed-to-xbox-series-xs-and-pc-on-march-1/
| 2024-01-31T18:08:03Z
|
blocked_url
|
Smalland: Survive the Wilds Releases February 15 for PS5, Xbox Series X|S, and PC - News
by William D'Angelo , posted 2 hours ago / 272 ViewsMerge Games announced Smalland: Survive the Wilds will leave Early Access and officially launch for the PlayStation 5, Xbox Series X|S, and PC via Steam and Epic Games Store on February 15
The game first released in Early Access for PC in March 2023.
View the release date trailer below:
Read details on the game below:
After centuries living underground, the Smallfolk emerge from their burrows to reclaim the Overland now that the giants have gone. Join the exodus as a vanguard in an epic adventure played at a tiny scale. Explore, scavenge, craft and build as you fight to gain a foothold in this hostile new world.
A New Perspective on Adventure
Scale skyscraper sized trees, scramble through cavernous cracks, explore dense forests, hazardous swamps and strange ruins, as you experience a huge open world from a new perspective.
Turn Nature to Your Adventure
Fight, tame and mount a variety of creatures. Leap huge distances on grasshoppers, fly over the treetops on birds, scurry through undergrowth on spiders. This world and its inhabitants are yours to conquer.
Survive Alone or Thrive Together
Play alongside friends with support for up to 10 players in multiplayer. Explore together, fight together, build together and survive the wilds as a team.
Build the Foundations of a New World
Scavenge or refine resources to construct encampments with multiple material tiers, from wood to stone and metal. Pick a favorite spot in the world and build, or scale vast trees and claim your own permanent settlement at the top.
Craft New Gear to Even the Odds
Collect powerful armors that provide you with resistances and abilities and mix them up to personalize your appearance. Add wings to your armor to fly and glide through the world, or swing from tree to tree with the grappling hook.
A Dynamic Ecosystem
Brave the elements with variable weather, including lethal storms, and changing seasons all requiring different survival techniques to avoid an early death.
Features:
- A huge open sandbox world to explore from a tiny perspective.
- Survive alone or work together with up to 10 players.
- Tame and mount insects, spiders, birds and more in order to travel further and faster.
- Explore at ground level or take to the skies.
- Build your perfect Great Tree base that travels with you to new servers.
- Discover Smallfolk lore through narrative quests and NPC encounters.
- Dynamic weather and random events organically create a living environment.
- Player upgrades and customization, warrior or builder—the choice is yours.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
|
https://www.vgchartz.com/article/459787/smalland-survive-the-wilds-releases-february-15-for-ps5-xbox-series-xs-and-pc/
| 2024-01-31T18:08:11Z
|
blocked_url
|
Resident Evil 4 Remake Sales Top 6.48 Million Units - Sales
by William D'Angelo , posted 2 hours ago / 337 ViewsCapcom announced the remake of Resident Evil 4 has sold over 6.48 million units worldwide as of December 31, 2023.
"Regarding catalog title sales, the Monster Hunter series delivered solid sales, driven by the announcement of Monster Hunter Wilds, an all-new addition to the series," said Capcom in its latest earnings report.
"Further, Resident Evil 4, launched in March 2023, contributed to sales growth, reaching 6.48 million units cumulatively, supported by ongoing promotional measures including free title updates for PlayStation VR2.
"Additionally, the Company conducted proactive promotional campaigns to gain wide recognition for its intellectual property and acquire new fans, focusing primarily on series title sales, such as Resident Evil 2. As a result, catalog title sales reached 26.7 million units, exceeding 22 million units in the same period of the previous fiscal year and boosting sales."
Resident Evil 4 released for the PlayStation 5, Xbox Series X|S, PlayStation 4, and PC via Steam on March 24, 2023.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
More Articles
To be honest, it is pretty so-so...They have effectively produced a remake of the original RE4, but while the original was a true unique game with a strong unique identity in 2005, now with this remake we have something very generic which just looks like plenty of other games, LoU2 is a far superior game.
|
https://www.vgchartz.com/article/459788/resident-evil-4-remake-sales-top-648-million-units/
| 2024-01-31T18:08:19Z
|
blocked_url
|
Square Enix to Absorb Subsidiary Tokyo RPG Factory - News
by William D'Angelo , posted 1 hour ago / 277 ViewsSquare Enix announced it will be acquiring Tokyo RPG Factory in an absorption-type merger.
Square Enix will be inheriting all the liabilities and assets of Tokyo RPG Factory as the studio will cease to exist as an individual entity.
Tokyo RPG Factory, which is a subsidiary of Square Enix, was founded in 2014. The studio released I Am Setsuna in 2016, Lost Sphear in 2017, and Oninaki in 2019.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
|
https://www.vgchartz.com/article/459789/square-enix-to-absorb-subsidiary-tokyo-rpg-factory/
| 2024-01-31T18:08:26Z
|
blocked_url
|
Destiny 2 Game DirectorJoe Blackburn is Leaving Bungie - News
by William D'Angelo , posted 1 hour ago / 251 ViewsThe Destiny 2 game director Joe Blackburn via Twitter announced he will be leaving Bungie soon and Tyson Green will be taking over his role.
Green has been working at Bungie since the 1990s and worked as a level designer on 1999's Myth 2. He was the multiplayer design lead on Halo 3 and the game design lead on Destiny and Destiny 2.
"Next month, The Final Shape will be hitting one of its most critical internal milestones: a ritual we call the End-to-End playtest," said Blackburn. "This ritual has been a key part of development since Forsaken.
"It’s multiple days of consecutive internal playtesting that not only generates incredibly valuable closing feedback on everything coming this summer, but also spiritually kicks off a shift towards bug fixing and polish work.
"Heading into this milestone, I've gotten to play 100s of hours of The Final Shape, and what the world-class talent here at Bungie has created has quickly become of the things I'm most proud to have worked on throughout my career.
"This ritual will be especially meaningful to me personally, as it will also serve as a moment to pass the torch of Destiny 2 Game Director to the next era of leadership as I head on a new adventure outside the walls of Bungie.
"As we hit End-to-End next month, Tyson Green will take the reins as D2 Game Director. If you’ve followed Bungie for any length of time, you've heard his name. From Halo PvP to the creation of Exotic weapons in D1, Tyson has been a critical part of Bungie's legacy since Myth II.
"As a deeply invested Guardian before starting here at Bungie, getting to be a part of the Destiny 2 team has been the privilege of a lifetime. I am and will forever remain a lifelong Bungie fan and believer in what the teams within its walls are capable of.
"I've still got some time before I pass the torch, but as I look forward to taking a big break from social media, I know I'll see yall around the Tower. It is going to be great to play Destiny alongside all of you."
Next month, The Final Shape will be hitting one of its most critical internal milestones: a ritual we call the End-to-End playtest.
— Joe Blackburn (@joegoroth) January 31, 2024
This ritual has been a key part of development since Forsaken.
Heading into this milestone, I've gotten to play 100s of hours of The Final Shape, and what the world-class talent here at Bungie has created has quickly become of the things I'm most proud to have worked on throughout my career.
— Joe Blackburn (@joegoroth) January 31, 2024
As we hit End-to-End next month, Tyson Green will take the reins as D2 Game Director. If you’ve followed Bungie for any length of time, you've heard his name. From Halo PvP to the creation of Exotic weapons in D1, Tyson has been a critical part of Bungie's legacy since Myth II.
— Joe Blackburn (@joegoroth) January 31, 2024
I've still got some time before I pass the torch, but as I look forward to taking a big break from social media, I know I'll see yall around the Tower. It is going to be great to play Destiny alongside all of you.
— Joe Blackburn (@joegoroth) January 31, 2024
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
|
https://www.vgchartz.com/article/459790/destiny-2-game-directorjoe-blackburn-is-leaving-bungie/
| 2024-01-31T18:08:35Z
|
blocked_url
|
Sega of America to Layoff 61 Employees on March 8 - News
by William D'Angelo , posted 1 hour ago / 336 ViewsSega of America is set to layoff 61 employees on March 8, 2024, according to a California WARN notice posted by Sega that was spotted by a user on ResetEra.
The California WARN Act requires all companies to give a 60 day notice before doing a mass layoff. Sega of America has given notice to the State of California's Employment Development Department oh two separate layoffs of 49 employees and 12 employees. Both will take place on March 8, according to VideoGamesChronicle.
Sega of America has about 440 employees, which means around 13 percent of the company will be laid off in March.
🚨 LAYOFF ALERT - California 🇺🇸
— What Layoff? (@WhatLayoff) January 31, 2024
Sega of America, Inc. at 140 Progress, Suite 100, Irvine CA 92618 and 6430 Oak Canyon Road, Suite 100, Irvine CA 92618 will layoff 61 employees on March 8, 2024 as indicated in a California WARN notice.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
More Articles
The gaming industry is seeing so many layoffs already this year, we are already more than halfway to the total number of gaming layoffs in 2023 and we are only 1 month into 2024.
Is this because of the increased monopolizing in the industry?
I guess basically every producer is going to lay off ten percent of its workforce this year except for Nintendo and maybe Capcom.
|
https://www.vgchartz.com/article/459791/sega-of-america-to-layoff-61-employees-on-march-8/
| 2024-01-31T18:08:43Z
|
blocked_url
|
PlayStation Plus Monthly Games for February 2024 Announced - News
by William D'Angelo , posted 1 hour ago / 406 ViewsSony Interactive Entertainment has revealed the PlayStation Plus monthly games for February 2024. The games will be available starting on Tuesday, February 6, 2025 until Monday, March 4, 2024.
The three PlayStation Plus monthly games are Foamstars for the PS5 and PS4, Rollerdrome for the PS5 and PS4, and Steelrising for the PS5.
Alongside the Monthly Games lineup, the exclusive Fall Guys Icons Pack for PlayStation Plus members will be available. It will bring "some iconic PlayStation looks to the multiplayer party."
Read details on the games below:
Foamstars | PS4, PS5
Introducing Foamstars, the new 4v4 online party shooter. Use foam to build terrain, creating slippery surfaces to surf around the arena at high speed, help defend from enemy attacks, or create vantage points to take out opponents from. Select from a quirky and colorful cast of athletes and compete across multiple game modes. Find out more about Foamstars from its creators here.
Rollerdrome | PS4, PS5
From the critically acclaimed studio, Roll7, comes a high octane third-person shooter experience like no other. In the brutal blood sport, Rollerdrome, gear up for visceral combat with fluid motion set in an evocative retrofuture. Dominate with style in this intense shooter-skater hybrid, where kills grant health and nailing tricks provide you with ammunition. Will you have what it takes to become the next Rollerdrome Champion?
Steelrising | PS5
This action RPG is set in an alternate history Paris in which the French Revolution has been suppressed by a robotic army. Fight and explore through the streets, rooftops, neighborhoods and castles as Aegis, a mysterious automaton masterpiece. Engage in ruthless and intense fights against technological marvels that are as complex as they are unforgiving.
Fall Guys Icons Pack, exclusive to PlayStation Plus members
Play for the Crown with the Fall Guys Icons Pack, which brings some iconic PlayStation looks to the multiplayer party. Deck out your Bean in Aloy, Ratchet & Clank costumes and debut some additional cosmetics while competing!
Claim the Icons Pack and receive:
- Ratchet (Whole Costume)
- Clank (Whole Costume)
- Aloy (Whole Costume)
- Groovitron (Emote)
- Clank’s Laugh (Emote)
- Lombax (Pattern)
- Clank (Pattern)
- Seeker (Pattern)
- Ratchet (Colour)
- Clank (Colour)
- Ratchet (Nameplate)
- Clank (Nameplate)
- Horizon (Nameplate)
- Aloy (Faceplate)
- Ratchet (Faceplate)
- Clank (Faceplate)
- Seeker (Nickname)
You’ll be able to find and download this pack in addition to the PlayStation Plus Monthly Games line up on PlayStation Store. Download Fall Guys from PlayStation Store to access. Once downloaded, they’ll all be available in-game immediately, regardless of whether you’re a new or returning player.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
More Articles
More proof that the alternate month is always a bad list of games. How many times am I proven right. Sony has a deliberate policy that every 2nd month ( generally ) of PS+ games is low quality. This has been going on for years.
Save money and never buy a long term PS + subscription. Use that money on good games, yourself or other things more important.
Willing to give Foamstars a shot.
|
https://www.vgchartz.com/article/459792/playstation-plus-monthly-games-for-february-2024-announced/
| 2024-01-31T18:08:52Z
|
blocked_url
|
A Little to the Left Releases February 15 for PS5, Xbox Series X|S, PS4, Xbox One, and Game Pass - News
by William D'Angelo , posted 1 hour ago / 220 ViewsPublisher Secret Mode and developer Max Inferno announced A Little to the Left for the PlayStation 5, Xbox Series X|S, PlayStation 4, Xbox One, and Xbox Game Pass on February 15.
The game first released for PC via Steam in November 2022.
View the Xbox and PlayStation trailer below:
Read details on the game below:
Sort, stack, and organize household objects into just the right spot in A Little to the Left, a tidy puzzle game with a mischievous cat who likes to shake things up!
- Puzzles hidden among household objects.
- Multiple solutions make for intuitive and satisfying puzzle design.
- A puzzle unique for you every day with The Daily Tidy Delivery.
- Perfect for casual puzzle game fans and those who get a jolt of satisfaction from a well organized space.
- Feel free to skip levels with the “Let It Be” option, and choose when you want to tackle certain messes.
- Need a hint? A little or a lot? With a unique hint system, you control how much of the solution is revealed in each level.
Which way should the clock hands point? How to arrange the eggs? Who put so many stickers on this fruit?!?
Come enjoy a calming world in an observational puzzle game with surprises around every corner.
Featuring charming illustrations and surprising scenarios, A Little to the Left is satisfying and curious with over 100 delightful puzzles to discover. Keep your eye out for a mischievous cat who has an inclination for chaos!
In the Daily Tidy mode, you’ll get a puzzle delivered EVERY DAY with variations on our favorite puzzles that’s unique to you.
Find all the solutions each day to earn fun badges! If only tidying in real life was this rewarding.
Want that festive joy in July? Feeling like a fright in May?
A Little to the Left now features a puzzle Archive, granting permanent access to the formerly limited-time seasonal levels. Now enjoy messes based around Xmas, Easter, Halloween, and more, no matter the month.
Features:
- Over 100 unique logical puzzles.
- Quick-to-solve puzzles make for satisfying gameplay.
- Intuitive drag and drop controls.
- A puzzle unique to you delivered each day with The Daily Tidy Delivery.
- Multiple solutions.
- Charming illustration.
- Atmospheric sound design.
- A mischievous (but very cute) cat.
- Funny and playful, great for all ages!
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
|
https://www.vgchartz.com/article/459793/a-little-to-the-left-releases-february-15-for-ps5-xbox-series-xs-ps4-xbox-one-and-game-pass/
| 2024-01-31T18:09:00Z
|
blocked_url
|
Xbox Controller Vapor Collection Now Available With Xbox Design Lab - News
by William D'Angelo , posted 1 hour ago / 240 ViewsMicrosoft has announced a new collection of Xbox Wireless Controllers called the Vapor series.
The collection is available now in Xbox Design Lab, as well as a non-customizable Dream Vapor Special Edition controller in select markets for €69.99 / $69.99 / £64.99.
The Xbox Gear Shop also has exclusive hoodies inspired by the Vapor series controllers. The three hoodies available include the orange and red Fire Vapor, the purple and pink Cyber Vapor, and the green and electric volt yellow Electric Vapor.
Read details on the Vapor series controller collection below:
Introducing the newest collection of Xbox Wireless Controllers: the Vapor series in Xbox Design Lab and the Xbox Wireless Controller – Dream Vapor Special Edition. In this collection, each top case features a dynamic pattern that is unique to every controller. If you are familiar with the Xbox Wireless Controller – Stormcloud Vapor Special Edition, you have seen how this misty pattern creates a subtle and textured look that only you can call yours.
The Vapor series with Xbox Design Lab brings some of the most unique controller designs available for your customization, offering six top case options with swirling color patterns. If green is your thing, the Electric Vapor top case merges the bold Electric Volt and the iconic Velocity Green, while the Nocturnal Vapor top case draws you in with its Dark Green and Grey swirl. Feel the heat with the Fire Vapor top case, featuring a fiery red and orange swirl, or opt for the cool and collected Stormcloud Vapor, with a sleek blue swirl design. If pink and purple are your power colors, look no further than the Cyber Vapor top case, showcasing a lively pink and purple swirl, or enter in the dreamy hues of the Dream Vapor top case with its soft pink and soft purple swirl.
Once you’ve selected one of these unique Vapor top cases, it’s time to personalize further by choosing from a variety of button and thumbstick styles. You can even enhance your design with metallic triggers and D-pads, rubberized side and back grips, and add a personalized engraving for the finishing touch.
Alternatively, enter dreamland with our newest Special Edition design, the Xbox Wireless Controller – Dream Vapor. Using the pink and purple top case from the Vapor collection, we’ve dreamt up a Special Edition controller that highlights the best that this colorway has to offer. The subtle pink-purple swirl is extended to the rest of the design, featuring soft pink thumbsticks, bumpers, triggers, and hybrid D-pad. What you’ll find unique about this Special Edition controller is the inclusion of purple rubberized side grips, soft pink ABXY buttons with purple accents, and an exclusive Dynamic Background that brings this amazing design over to your Xbox Series X|S console.
All controllers within the Vapor Collection include all the incredible features fans can expect with our newest generation of controllers. This includes a battery life of up to 40* hours of gameplay, allowing you to stay immersed in the action for longer. Enter every reality of gaming via the Bluetooth and Xbox Wireless connection, enabling you to connect and play on Xbox Series X|S, Xbox One, PC, iOS and Android devices.
You can chat with your friends using any compatible headset and share your most unbelievable gaming highlights using the dedicated Share button on your controller. Use the Xbox Accessories app to remap your controller buttons and create custom controller profiles for your favorite games, giving you endless potential to elevate your gaming experience.
The Vapor Series is available now with Xbox Design Lab, where you can choose from the six Vapor designs to create a completely customized controller. You can also pre-order the Xbox Wireless Controller Special Edition – Dream Vapor today in select Xbox markets worldwide for $69.99 USD ERP. Visit Xbox.com or your local retailer, including Microsoft Store, for more information.
We’re also introducing the newest addition to the Xbox Icon Collection – The Vapor Hoodie. Inspired by the two-color swirl of the new Xbox Vapor wireless controllers, our Icon Collection Vapor Hoodie is available in 3 print colors each with its own unique swirl pattern: the orange and red Fire Vapor, the purple and pink Cyber Vapor, and the green and electric volt yellow Electric Vapor. Available only in the Xbox Gear Shop.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
|
https://www.vgchartz.com/article/459794/xbox-controller-vapor-collection-now-available-with-xbox-design-lab/
| 2024-01-31T18:09:09Z
|
blocked_url
|
Coral and corsets? Paris Jackson just made it a thing. The singer and actress, 25, was among the stars at the Tres Generaciones And Billboard Host New Nominees Dinner at The Sun Rose in West Hollywood on Tuesday night, joining a fleet of A-listers.
For the illustrious affair, she opted for a sunset-hued corset dress that showed off her eclectic collection of tattoos. With a sweetheart neckline, daring thigh-high slit and sheer all-over fabric, Paris' statement dress didn't go unnoticed amongst the style set at the event.
The star, who is the daughter of late pop legend Michael Jackson, wore her honey-blonde hair in natural waves, allowing her beachy curls to frame her face as she rocked a natural beauty glow.
Paris' main accessory, however, were the dozens of exposed tattoos along her arms and décolletage, including a colourful chakra tattoo on her chest.
DON'T MISS: Michael Jackson's son Bigi 'Blanket' and daughter Paris get fans talking during rare appearance online
The Los Angeles-based star is believed to have at least 80 tattoos. In conversation with Glamour in 2022, she revealed: "I've always been interested in [tattoos]. I used to get uniform violations in school – I was probably 13 or 14 – because I used to write all over myself with a permanent marker."
While Paris insisted that "a lot of [my tattoos] I got for no reason", in an interview with POPSUGAR, the musician does have a select few inked in honour of her late father, who died in 2009 when she was just 11.
It's been a star-studded start to the year for the young star, who most recently turned heads at the 2024 Billboard Golden Globes After Party in a vampy leopard print dress.
Leaning fully into animal print couture, Paris danced into the party wearing a sheer animalistic maxi dress and towering heels.
Away from the glittering spotlight of Hollywood, however, the Wilted album artist is working hard to break down misogyny and celebrate body positivity.
In a deeply personal post shared with her 5 million Instagram followers last year, Paris gave a candid glimpse into the reality of life away from the camera.
"I love my body, my belly even when it's bloated, my stretch marks, my butt when it gets flatter after skipping workouts for weeks, and my scars," she penned over topless images of herself. She then added supportively: "And I love yours too."
|
https://www.hellomagazine.com/fashion/celebrity-style/512439/paris-jackson-shows-off-unique-chest-tattoos-corset-dress-hollywood/
| 2024-01-31T18:22:45Z
|
blocked_url
|
Gemma Atkinson and Gorka Marquez welcomed their second child last July, and at the time the couple revealed they didn't plan on welcoming any more children.
Despite this, Gemma decided to jokingly raise the issue with Gorka as they relaxed in bed and she was taken aback by his "point blank" response. In a clip, which you can see below, Gemma decided to relive the moment while her fiancé was looking after their baby son, Thiago, six months, and he looked unimpressed as the star spoke about the moment.
"I said to Gorka the other day just as a test while we were in bed and I went: 'Gorka, would it really be a no to another baby? What would you do if I wanted another baby?," the actress started while giggling because of her future husband's deadpan response.
Still laughing, she added: "And he just went: 'Absolutely not, Gemma'. Like point blank no, no more. I was only kidding, I don't wany anymore but I thought I'd see how far we'd get with the convo, but we got nowhere straight away."
Gemma then compared the Strictly Come Dancing professional to Rocky character Ivan Drago, who was known for his deadpan and blunt way of speaking.
At the time of Thiago's arrival last July, Gemma revealed that her family was now "complete", ruling out the possibility of a third child.
The mum-of-two further confirmed her stance while breastfeeding her young son a few weeks after his birth, sharing: "Started to send my milk back (currently sat with iced cabbage on my chebs). Bittersweet as I know it's the last time feeding for me as we're done on the baby front, so part of me is a little sad and the other part is relieved."
However, Gemma still clearly enjoys the mum life, and told HELLO! in an exclusive interview: " Oh, I'm loving it. It's just going so fast. I always think if you could bottle it up and sell it, that would be the key to everyone's happiness – that time at home with you and your baby and the family. It's obviously chaotic and you're tired at the same time but it's so wonderful as well, you don't want it to end."
Meanwhile, daughter Mia is enjoying being an older sister, as Gemma confirmed: "She's like a mother hen; she's obsessed with him. She mucks in helping with the nappies and helps me get him dressed, which sometimes results in it taking a little bit longer than if I'm doing it on my own, but I just love the fact that she's so into him.
RELATED: Gemma Atkinson reveals 'catastrophe' at home with Mia during Gorka Marquez's absence
SEE: Strictly's Gemma Atkinson's daughter Mia kisses baby brother Thiago in adorable family video
"I said to her, 'Are you happy? Is everything ok?' and she says, 'Yeah, I love having Thiago, I love our little family.' It goes through your mind: 'I hope they don't feel pushed out or like they've been replaced or anything like that', and thankfully she's taking it all in her stride, bless her."
|
https://www.hellomagazine.com/healthandbeauty/mother-and-baby/512471/strictly-gemma-atkinson-fiance-gorka-marquez-reaction-third-baby/
| 2024-01-31T18:22:51Z
|
blocked_url
|
Princess Anne is consistently recognised for being the "hardest working" in the royal family. When she's not attending official engagements, however, the Princess Royal can be found at Gatcombe Park, her sprawling country bolthole in Gloucestershire where she lives with her husband, Sir Timothy Laurence.
According to The Lady magazine, the property boasts "a very relaxed country-house style, with the dogs and horses taking priority."
With five main bedrooms, four guest bedrooms, four reception rooms, a library, a billiard room and grand conservatory, Princess Anne's property sits high on the hill as a sloping lawn spills out on the 700 acres of greenery that make up the royal estate.
While the Grade-II listed Bath stone construction is a beauty in itself, it's the grounds of Gatcombe Park that make this royal residence truly unique.
Not only does the farm boast a converted "party barn", used often by Princess Anne's neighbours, Zara and Mike Tindall, but it's run as a working farm with a range of livestock, including breeding horses and cattle.
For the last 40 years it's also been home to the Festival of British Eventing, sponsored by Magic Millions since 2018.
The annual equestrian event, which takes place every August, has been described as "the most difficult arena in England to jump on because nothing is flat," by the cross-country course designer Captain Phillips, who is also Anne's former husband.
In an interview with Vogue Australia, Zara agreed that her home course is one of the "toughest tracks" in the world, likening the showjumping course to "being on a rollercoaster."
She added: "You’re galloping fast and then you’re turning down the hill and you kind of rock up the hill and it’s just really fast. It’s coming at you all the time and you’ve got to be on your game. Both of you have got to be on your game. So if the horse isn’t quite listening, you end up running past fences and not quite doing what you meant to do - not doing plan A anyway."
It's well-known that both Zara and her mother, Princess Anne, have a deep love for horses and riding, with both riding at a professional level.
"There's always horse conversation going on," Zara said of her relationship with her mother in an interview with People. "Our horses are in our family, so there's always discussions about performances and things like that," she added. "There's horses in her life and she does a bit of breeding as well."
Gatcombe Park no doubt provided the perfect setting for Olympian Zara to hone her equine skills growing up.
Prince William and Prince Harry are also said to have shared riding lessons there in their youth, as well as at their family home of Highgrove House - just six miles from Princess Anne's idyllic botlhole.
|
https://www.hellomagazine.com/homes/512469/princess-anne-sprawling-garden-gatcombe-park-showjumping-track/
| 2024-01-31T18:22:58Z
|
blocked_url
|
ANKARA - Russian President Vladimir Putin will visit NATO member Turkey to meet President Tayyip Erdogan on Feb. 12, a Turkish official said on Wednesday.
Putin's visit will be his first to a NATO member since Russia's full-scale invasion of Ukraine in February 2022.
Putin's scope to travel abroad has been limited since March last year when the International Criminal Court (ICC) issued an arrest warrant against him for the alleged deportation of Ukrainian children to Russia, a war crime. Russia denied the charge and called the move outrageous, but said it was legally void in any case because Russia is not a member of the ICC.
Turkey is also not a party to the Rome Statute of the ICC, so Putin can travel to Turkey without fear of being arrested under the warrant.
Turkey has sought to maintain good relations with both Moscow and Kyiv since Russia invaded Ukraine. It has provided military support to Ukraine and voiced support for its territorial integrity, but also opposes sanctions on Russia in principle.
Ankara is seeking to convince Russia to return to the so-called Black Sea Grain Initiative after Moscow withdrew last July, ending a year of protected exports from Ukrainian ports amid the war. Erdogan said alternatives to the deal could not provide a lasting solution.
Separately, Erdogan will travel to Egypt on Feb. 14, the official said, after the two countries upgraded their diplomatic relations by appointing ambassadors last year following a decade of tension. REUTERS
|
https://www.straitstimes.com/asia/russias-putin-to-visit-nato-member-turkey-on-feb-12-turkish-official
| 2024-01-31T18:31:29Z
|
blocked_url
|
ZURICH - Switzerland will ban the import of Russian diamonds in line with the latest round of European Union sanctions designed to punish Moscow for its invasion of Ukraine, the government said on Wednesday.
Bern has agreed to adopt the 12th round of sanctions implemented by the EU in December, with measures effective from Feb. 1, as it has with all previous rounds since the start of the war almost two years ago.
Among those measures is a phased ban on the purchase and import of Russian diamonds.
"Switzerland thus joins the measures agreed at the G7 summit on 6 December 2023 to deprive Russia of this important revenue stream," the government said in a statement.
Import bans are also being introduced on other goods that generate revenue for Russia, including pig iron and liquid petroleum gas.
Switzerland said it was expanding its list of banned exports which could be used to strengthen Russia' military and technology sectors. Exports of lithium batteries, motors for unmanned aerial vehicles, and machine tools and parts have also been added.
In the financial sector, Russian nationals and individuals living in Russia will be banned from controlling companies in Switzerland that provide crypto-asset services.
Switzerland has also placed an additional 147 individuals and companies under sanctions, taking the total to 1,422 individuals and 291 organisations. REUTERS
|
https://www.straitstimes.com/asia/swiss-ban-russian-diamond-imports-joining-latest-eu-sanctions
| 2024-01-31T18:31:29Z
|
blocked_url
|
WASHINGTON - U.S. authorities have charged four Chinese nationals with crimes related to the smuggling of U.S.-made electronic components, including some with possible military use, to Iran, the Justice Department said on Wednesday.
The Chinese nationals are accused of moving U.S. export-controlled items through China and Hong Kong to sanctioned entities affiliated with Iran's Islamic Revolutionary Guard Corps (IRGC) and its defense ministry, the department said in a statement.
The U.S. alleges that between May 2007 and July 2020, the four used front companies in China to funnel electronics, including some that could be utilized in the production of drones, ballistic missile systems, and other military end uses.
The alleged scheme resulted in the export of a "vast amount" of dual-use U.S.-origin commodities with military capabilities from the United States to Iran, the Justice Department said.
"Such efforts to unlawfully obtain U.S. technology directly threaten our national security, and we will use every tool at our disposal to sever the illicit supply chains that fuel the Iranian regime's malign activity," Assistant Attorney General Matthew Olsen of the Justice Department's national security division said in the statement.
The U.S. has issued arrest warrants for the accused, who all remain fugitives, according to the statement. REUTERS
|
https://www.straitstimes.com/asia/us-charges-chinese-nationals-with-smuggling-us-made-electronics-to-iran
| 2024-01-31T18:31:33Z
|
blocked_url
|
LONDON -Formula One rejected on Wednesday a bid by U.S.-based Andretti to enter in 2025 or 2026, saying it doubted a proposed 11th team would be competitive or add value, but kept a door open for 2028 when General Motors could provide an engine.
The governing FIA last year approved the application, sending it on to Liberty Media-owned Formula One Management (FOM) for discussions, and the outcome left the regulator once again at odds with the commercial rights holder.
Existing teams had opposed expansion, arguing it would reduce their value after spending billions on the sport and also dilute the share of the revenues while giving an entry to Andretti on the cheap.
FOM concluded in a detailed statement setting out their reasoning that the application "should not be successful".
"Our assessment process has established that the presence of an 11th team would not, on its own, provide value to the championship," it explained.
"The most significant way in which a new entrant would bring value is by being competitive. We do not believe that the applicant would be a competitive participant."
Formula One said it would look differently on an application for 2028 "either as a GM works team or as a GM customer team designing all allowable components in-house".
"In this case there would be additional factors to consider in respect of the value that the applicant would bring to the championship, in particular in respect of bringing a prestigious new OEM (car maker) to the sport as a PU supplier."
The sport said a 2025 entry would have involved "a novice entrant building two completely different cars in its first two years of existence".
"The fact that the applicant proposes to do so gives us reason to question their understanding of the scope of the challenge involved," Formula One added
The engine rules are changing significantly in 2026 and an Andretti entry would have relied on one of the existing manufacturers having to supply them until at least 2028.
General Motors has formally registered with the FIA to provide power units for the proposed U.S.-based team but only from 2028.
Formula One said the initial 'dependency' on a compulsory supply led it to believe the proposed team, who have already recruited staff and built a wind-tunnel model, would not be competitive.
NO MEETING
The statement said Formula One had written to Andretti last month with an invitation to a face-to-face meeting in London but the offer had not been taken up.
Michel Andretti is the son of 1978 world champion and F1 great Mario but Formula One felt the Americans had more to gain from an entry than the sport itself.
"While the Andretti name carries some recognition for F1 fans, our research indicates that F1 would bring value to the Andretti brand rather than the other way around," it said.
It also argued that an 11th team would place an operational burden on race promoters and subject some of them to significant costs.
There was no immediate reaction from Andretti but some insiders were dismayed at the rejection of a big name in U.S. motorsport at a time when the sport is drawing new fans and expanding in the country.
"As a Formula One fan, as a commentator, I would love there to be an 11th and indeed a 12th team on the grid," said former racer Martin Brundle, while also recognising the 10 teams' position.
"F1 have clearly said today you're not bringing enough to let us warrant an extra team on the grid." REUTERS
|
https://www.straitstimes.com/sport/f1-says-no-to-andretti-but-door-open-for-2028-with-gm
| 2024-01-31T18:31:43Z
|
blocked_url
|
DOHA - Japan must kill off games after taking a lead and their leaky defence is a cause for concern at the Asian Cup after they failed to keep a clean sheet yet again in Wednesday's last-16 win over Bahrain, defender Takehiro Tomiyasu said.
Japan, seeking a record-extending fifth title, have conceded in all four games at the tournament, with an own goal when they were 2-0 up giving Bahrain a glimmer of hope in the last-16 tie before the Samurai Blue wrapped up a 3-1 win.
"Obviously, we wanted to keep a clean sheet today. But it is what it is. We need to try and keep a clean sheet in the next game," Tomiyasu told reporters.
"As a defender, I want to keep a clean sheet every time on the pitch but today we couldn't manage it. I'm not happy about this."
Although Japan coach Hajime Moriyasu said he was pleased with his players' performances, he added that they were not playing at 100% and Tomiyasu agreed.
"I think we're not at our best form now. We could have done better today as well, we should have done better - especially in the second half," Tomiyasu added.
"We needed to kill the game at 2-0, but we gave them hope when they scored. We need to manage the game well and close the game out."
Tomiyasu plays as a full back for Premier League side Arsenal but he has been deployed in central defence by Moriyasu after the 25-year-old returned from an injury.
"Obviously, I got injured and I missed the first game, but I'm fit now. My condition is getting better," the defender said. REUTERS
|
https://www.straitstimes.com/sport/football/japan-must-learn-to-kill-off-games-at-asian-cup-says-tomiyasu
| 2024-01-31T18:31:53Z
|
blocked_url
|
PARIS - Formula One announced on Jan 31 it had blocked US outfit Andretti’s bid to join the circuit, citing concerns over the team’s level of competitiveness.
Andretti, headed up by 1978 world champion Mario and his son, former McLaren driver Michael, had applied to become Formula One’s 11th team from 2025 or 2026.
“Our assessment process has established that the presence of an 11th team would not, in and of itself, provide value to the Championship,” Formula One said in a statement.
“The most significant way in which a new entrant would bring value is by being competitive. We do not believe that the Applicant would be a competitive participant,” it added.
Andretti Global is the parent company to Andretti Autosport and other Andretti ventures, with teams currently competing in seven series worldwide.
They are most prominent in the IndyCar Series, in which the team fields four cars.
Since Michael Andretti’s involvement, the team has won the Indianapolis 500 five times (2005, 2007, 2014, 2016, 2017) and the overall championship four times (2004, 2005, 2007, 2012).
“While the Andretti name carries some recognition for F1 fans, our research indicates that F1 would bring value to the Andretti brand rather than the other way around,” Formula One said.
“The addition of an 11th team would place an operational burden on race promoters, would subject some of them to significant costs, and would reduce the technical, operational and commercial spaces of the other competitors,” it added.
Audi is scheduled to enter the series in 2026, while Porsche is also in talks with F1.
There are currently 10 teams in the FIA’s premier series, which is seeking to build on its increased popularity in the United States.
The series added a second race in the United States in 2022 in Miami, which joined the race in Austin, Texas, with Las Vegas joining last year.
“We would look differently on an application for the entry of a team into the 2028 Championship with a GM (general Motors) power unit, either as a GM works team or as a GM customer team designing all allowable components in-house,” Formula One said.
“In this case there would be additional factors to consider in respect of the value that the Applicant would bring to the Championship,” it added. AFP
|
https://www.straitstimes.com/sport/formula-one/formula-one-rejects-andrettis-bid-to-join
| 2024-01-31T18:32:04Z
|
blocked_url
|
LONDON - LIV Golf signed two more players to its roster, announcing the additions of Adrian Meronk and Lucas Herbert on Jan 31.
The league also said it added two wild-card spots, and players will compete in weekly tournaments for individual prizes and not as part of its team structure.
LIV’s third season launches this weekend at LIV Golf Mayakoba in Playa del Carmen, Mexico.
Meronk, 30, was the 2023 DP World Tour Player of the Year. When he won the 2022 Horizon Irish Open, he became the first Polish player to win on the DP World Tour. He is joining the Cleeks GC team, captained by Martin Kaymer.
Herbert, 28, will compete on fellow Australian Cameron Smith’s Ripper GC team. He has four professional wins – three in Europe and the 2021 Bermuda Championship on the PGA Tour.
LIV also said the two qualifiers from December’s promotions event have been assigned to teams. Kalle Samooja of Finland will join Cleeks, and Jinichiro Kozuma of Japan will play for Kevin Na’s Iron Heads GC. FIELD LEVEL MEDIA
|
https://www.straitstimes.com/sport/golf/liv-adds-two-players-ahead-of-season-opener
| 2024-01-31T18:32:14Z
|
blocked_url
|
BUENOS AIRES - The government of Argentine libertarian President Javier Milei was racing to secure votes in Congress for its key 'omnibus' reform bill that entered the lower of chamber on Wednesday, even as the left-leaning opposition pledged to oppose it.
The bill, ranging from economic policy to privatization of state entities, is one the main planks in Milei's reform push to tackle the South American country's worst economic crisis in decades, with inflation over 200% and state coffers running dry.
It marks his first major test since taking office in December after a shock election win for the economist who made his name as an acid-tongued TV pundit and campaigned with a chainsaw pledging to slash spending and the size of the state.
Milei faces a major challenge to push the bill through with his coalition only having a minority in both chambers, which means he has to win over allies. His government yanked a divisive fiscal section from the bill last week to boost support.
"Today, politicians have the chance to start reversing the damage they've caused the Argentine people," Milei's office said in a post on Wednesday, urging lawmakers to support the bill as an expected mammoth debate by legislators began.
In a sign of the challenge ahead, however, the main Peronist opposition bloc Union por la Patria, which is the largest single grouping in Congress, said it would reject the bill, posting a picture with a slogan "No to the Omnibus bill" on X, formerly Twitter.
"We reject the Omnibus bill because it puts fuel in Milei's chainsaw to hurt the daily lives of Argentines," wrote Peronist politician and former foreign minister Santiago Cafiero, a reference to his austerity plans to undo a deep fiscal deficit.
If the law is approved in the lower chamber - a debate that will likely extend beyond Wednesday - it moves next week to the Senate. Investors are watching closely, with hopes that the pared back version will pass, which would bolster local markets.
"The Omnibus bill now has a better chance of being approved in Congress," said Fernando Sedano of Morgan Stanley.
"We continue to consider that the approval of radical reforms is positive for the medium-term narrative, even with a watered down version of the original bill." REUTERS
|
https://www.straitstimes.com/world/argentinas-milei-seeks-omnibus-bill-backing-as-opposition-warns-chainsaw-starting
| 2024-01-31T18:32:25Z
|
blocked_url
|
BRUSSELS - A standoff between Germany and other European Union countries has cast uncertainty on the future of an EU military aid fund that has bankrolled billions of euros in arms for Ukraine.
While Berlin and many other EU nations say they are strongly committed to keeping up weapons supplies to Kyiv, the bloc's members have been wrangling for months over how best to do so.
EU leaders will discuss the issue at a summit on Thursday, which will also try to reach agreement on a four-year plan for 50 billion euros ($54.23 billion) of economic aid for Ukraine.
Most EU countries are ready to inject 5 billion euros into the military aid fund to help Kyiv but Germany wants changes to the fund first, according to diplomats, who say they are unsure whether a deal will be reached at the summit.
The standoff is part of a broader debate over how to get arms supplies to Ukraine on a long-term footing, given added urgency by struggles to get aid for Kyiv through the U.S. Congress and the possibility of a second Trump administration.
The tussle over military aid reflects tensions over burden-sharing, with German Chancellor Olaf Scholz having publicly accused most EU countries of not providing enough for Ukraine.
German officials have voiced frustration that they have pledged 8 billion euros in bilateral military aid for Ukraine this year but are also on the hook for the biggest payments into the European Peace Facility (EPF) fund - while other countries have promised far less for Kyiv.
The spat also raises questions about EU aspirations to become a single heavy hitter on the world stage, with a bigger defence role, rather than a collection of 27 nations where military policy is mainly the domain of national governments.
“Europeans are at a juncture, in the sense that they are learning the hard way to talk the talk and walk the walk on security issues," said Camille Grand, a defence expert at the European Council on Foreign Relations and former senior NATO official.
CASHBACK SCHEME
At the heart of the debate is the EPF, which operates as a giant cashback scheme, giving EU members refunds for sending munitions to other countries.
The EU has given more than 5 billion euros to the fund for Ukraine aid since Russia's all-out invasion in February 2022.
Countries pay into the fund according to their economic size and get payouts based on the aid they donate.
The fund accounts for a only a fraction of overall European aid to Ukraine. But its use for the war was a landmark moment.
For the first time, a bloc that had long shied away from hard power gave offensive weapons to a country at war. And the move sent a signal to Kyiv, Moscow, Washington and Beijing that Europe as a whole was stepping up to help Ukraine.
But now countries are arguing over its future role as Europe's military aid effort for Ukraine moves from providing munitions from stocks to placing new orders with arms firms.
Some see it as an effective way to keep channelling aid to Ukraine and a blueprint for greater EU defence cooperation.
"The EPF is the only thing that functions, the only thing that we can build on," said Kusti Salm, the top civil servant in Estonia’s defence ministry.
But the fund has also attracted controversies.
EU members have clashed over the amounts some were claiming in refunds for sending old stock to Ukraine.
As the fund operates on unanimity, Hungary has been able to hold up 500 million euros in payouts to other EU members for Ukraine aid for more than six months.
Berlin has demanded big changes, suggesting bilateral aid should be taken into account when determining contributions.
“It is crucial for Ukraine that military aid reaches it without delay,” said Michael Clauss, Germany's ambassador to the EU. “Bilateral support is quick and direct, and should be considered as an equivalent contribution under EPF rules."
French President Emmanuel Macron said in Stockholm on Tuesday he was ready to reform the EPF but did not go into detail. He has floated the idea of EU bonds to fund a boost in the bloc's own defences and get more arms to Ukraine.
In recent days, the EU’s diplomatic service has suggested ways to overcome stumbling blocks with the EPF: Hungary’s cash could go to aid for countries other than Ukraine and bilateral aid could be “offset” against contributions.
But it is unclear how those ideas would work in detail.
Smaller countries are arguing strongly for the EPF to continue to fund Ukraine aid. The say being part of a bigger pool means their cash can be spent more quickly and effectively.
“It's just like with COVID and vaccines - if we don't have a European purchasing mechanism, we're at the back of the line," said Lithuanian Foreign Minister Gabrielius Landsbergis.
“Without some European mechanism, I've been joking that we're going to purchase tents and pocket knives." REUTERS
|
https://www.straitstimes.com/world/europe/eu-grapples-with-future-of-military-aid-for-ukraine
| 2024-01-31T18:32:35Z
|
blocked_url
|
LISBON - Portugal's caretaker government announced on Wednesday an emergency aid package worth 500 million euros ($543 million) for farmers as it tries to avoid the kind of mass protests causing disruption in France and elsewhere across Europe.
As part of the package, Agriculture Minister Maria do Ceu Antunes announced a 55% reduction in the tax on agricultural diesel fuel and an extra 120 million euros to support organic agriculture and mixed farming.
Some 200 million euros were to mitigate the impact of a long-running drought impact on farmers' income.
The measures, announced after a meeting with representatives of the country's biggest agriculture confederation CAP, meet some of its demands.
CAP, which represents 280,000 farmers and had earlier complained the government was reducing aid to organic and mixed farming, said on Wednesday that "to safeguard national stability, CAP will not carry out any protest action in Portugal until a new government is in place" after a March 10 election.
"We are well aware of the difficulties of the last four years," said do Ceu Antunes. "This package seeks to meet farmers' expectations."
However, a number of smaller associations, feeling misrepresented, announced plans for a protest at dawn.
"On Feb. 1, starting at 6 a.m., farmers will take to Portuguese roads with their farm machinery to fight for the human right to adequate food, for fair conditions and the valorisation of the sector," said one newly-created group, the Civil Movement for Agriculture.
On Tuesday, the National Confederation of Agriculture, which represents small and medium-sized farms, said it would organise a series of protests, slow marches and other events starting on Friday in the northern city of Aveiro.
In France, farmers, who have protested for over two weeks, stepped up pressure on the government by blocking highways with their tractors near Paris and setting bales of hay ablaze to partly block access to Toulouse airport. REUTERS
|
https://www.straitstimes.com/world/europe/portugal-rolls-out-farming-aid-package-to-fend-off-protests
| 2024-01-31T18:32:46Z
|
blocked_url
|
MOSCOW/KYIV - Russia and Ukraine said on Wednesday they had completed another large prisoner exchange despite the crash last week of a Russian military transport plane that Moscow says was shot down by Ukraine carrying Ukrainian PoWs en route to a similar swap.
The two countries have carried out periodic prisoner swaps via intermediaries since the war began nearly two years ago, despite the absence of peace talks since the early months.
The Russian Defence Ministry said each side had received 195 soldiers, while Ukraine said it had got 207 people back.
Russia's Foreign Ministry thanked the United Arab Emirates for helping broker the deal, adding in a statement that Russian soldiers would be flown to Moscow for medical and psychological treatment.
The ministry said Wednesday's swap was originally intended to take place on Jan. 24, but was disrupted by Ukraine shooting down a Russian plane carrying Ukrainian prisoners to the exchange point with a ground-to-air missile killing all 74 people on board.
The Il-76 transport plane was downed inside Russia's Belgorod region. President Vladimir Putin said on Wednesday that Kyiv had used a U.S. Patriot missile system to bring it down.
Ukraine has neither confirmed nor denied that it downed the plane, and has demanded proof of who was on board.
Putin said Moscow would continue such exchanges and that Kyiv had indicated it was open to more.
Ukrainian President Volodymyr Zelenskiy hailed the exchange on X: "Our people are back. 207 of them. We return them home no matter what."
Ukraine's state body in charge of PoWs said the 50th such exchange had brought home soldiers involved in defending the cities of Mariupol and Kherson as well as some captured by Russia on Snake Island in the Black Sea.
It said marines and combat medics were among the Ukrainians returned, with 36 injured or seriously ill.
The latest and biggest exchange was on Jan. 3, when 478 captives were traded, also with UAE mediation. REUTERS
|
https://www.straitstimes.com/world/europe/russia-and-ukraine-exchange-prisoners-despite-plane-crash-last-week
| 2024-01-31T18:32:56Z
|
blocked_url
|
WASHINGTON - U.S. Treasury Secretary Janet Yellen reassured top European Union officials on Wednesday that the Biden administration was "firmly committed" to its request for Congress to approve $11.8 billion in budget aid for Ukraine, saying failure to do so would hand a victory to Russian President Vladimir Putin.
"Congress must act quickly to provide support to Ukraine, including through direct budget assistance," Yellen said at the start of a bilateral meeting with EU executive vice presidents Margrethe Vestager and Valdis Dombrovskis in Washington.
"Failure to act would hand a victory to President Putin and have unthinkable consequences not only for Ukraine, but also for our collective security," Yellen said, adding: "Simply put, we cannot allow Ukraine to run out of money before it runs out of ammunition."
The funds, along with around $50 billion in military aid to help Ukraine battle Russia's nearly two-year-old invasion, are bogged down in negotiations amid demands by Republicans for sweeping changes to U.S. border security policies.
Yellen said the funds were an investment in the national security of the United States and Europe and in the "rules-based international system that benefits all of us."
Vestager said that it was "absolutely essential" for the United States and EU to maintain a strong partnership to support Ukraine and not give Putin any expectations of "changing our attention" on Ukraine.
She said the support from the United States, the EU and its member states, which has totaled over $54 billion since 2022, was starting to bear fruit on fighting corruption in Ukraine. REUTERS
|
https://www.straitstimes.com/world/europe/yellen-tells-eu-that-biden-is-committed-to-ukraine-budget-funding
| 2024-01-31T18:33:06Z
|
blocked_url
|
ACCRA - Ghana's former president and leading opposition presidential candidate John Dramani Mahama on Wednesday expressed his opposition to LGBTQ+ rights but did not say if he would support a bill aimed at criminalizing same-sex relations.
The main opposition party, the National Democratic Congress, voted last year to retain Mahama as its leader for the 2024 presidential election.
During a meeting with members of the clergy in eastern Ghana, the former president said gay marriage and being transgender were against his Christian beliefs.
"The faith I have will not allow me to accept a man marrying a man, and a woman marrying a woman," Mahama said while responding to a church leader's call against LGBTQ+ people.
"I don't believe that anybody can get up and say I feel like a man although I was born a woman and so I will change and become a man," he added.
Mahama, however, did not say whether he would sign the bill that would criminalize same-sex relations, being transgender and advocating LGBTQ rights, should he win December elections.
Lawmakers in the West African nation have been debating the Human Sexual Rights and Ghanaian Family Values bill since August 2021.
Passing the bill would further reduce freedoms in a country where gay sex is already punishable with up to three years in jail, critics and activists say. REUTERS
|
https://www.straitstimes.com/world/ghanas-opposition-leader-expresses-anti-lgbtq-stance-ahead-of-dec-elections
| 2024-01-31T18:33:17Z
|
blocked_url
|
MEXICO CITY - Mexico's president rejected allegations on Wednesday that his first presidential campaign nearly two decades ago received financing from drug cartel leaders in exchange for future help with their criminal operations from his would-be government.
The allegations are laid out in extensive reports published earlier in the day by investigative news outlets ProPublica, Insight Crime and Deutsche Welle. The reports cite U.S. drug enforcement officials and their Mexican informants, who describe at least $2 million from major cocaine traffickers they say was provided to Lopez Obrador's 2006 unsuccessful presidential run and its bitter aftermath.
The informants include a couple of close aides to the then-candidate.
"It's completely false, it's a slander," Lopez Obrador said when asked about the report at his regular morning press conference.
"There's no proof," he added, "they are vile slanderers."
The 2006 campaign was the first of the leftist Lopez Obrador's three presidential runs, which he lost by less than 1 percent of the vote to conservative Felipe Calderon. Calderon went on to launch a bloody, controversial war on Mexico's powerful drug gangs.
Lopez Obrador, who has pursued a more nonconfrontational security policy regarding organized crime, has long argued he was cheated out of the presidency in 2006.
In the months after that election, he launched a monthslong takeover of downtown Mexico City with thousands of his supporters, even presiding over a ceremony in which he was proclaimed the legitimate president.
Among ProPublica's findings: One prominent cartel leader supplied Lopez Obrador's supporters with money for food.
Lopez Obrador, who also lost a 2012 race before eventually winning in a 2018 landslide election, said he mostly blames U.S. officials for what he called unethical actions, not the latest news.
"I'm not going to carry out any formal complaint, but I denounce it. Not the journalist or journalists. I denounce the United States government for allowing these immoral practices that are contrary to the political ethics that should prevail in all governments," he said. REUTERS
|
https://www.straitstimes.com/world/mexican-president-denies-drug-cartel-financing-in-first-campaign
| 2024-01-31T18:33:27Z
|
blocked_url
|
GENEVA - It could take until the closing years of the century for Gaza's economy to regain its pre-conflict size if hostilities in the Palestinian enclave were to cease immediately, the U.N. trade body said in a report published on Wednesday.
Israel's offensive in Gaza in the wake of attacks by Hamas gunmen on Oct. 7 have killed more than 26,000 people, according to local authorities, and decimated infrastructure and the livelihoods of its 2.3 million inhabitants.
The United Nations Conference on Trade and Development said the conflict had precipitated a 24% contraction in Gaza's GDP (gross domestic product) and a 26.1% drop in GDP per capita for all of 2023.
UNCTAD said that if the military operation were to end and reconstruction to start immediately - and if the growth trend seen in 2007-2022 persisted, at an annual average rate of 0.4% -- Gaza could restore its pre-conflict GDP levels in 2092.
At best, under a scenario that GDP could grow at 10% annually, it would still take Gaza's GDP per capita until 2035 to reach the level of 2006, before Israel in 2007 made permanent a land, sea and air blockade citing security concerns.
"It will take until 2092 for Gaza to go back to its 2022 level, which wasn't at all a good place for people in Gaza," said Rami Allazeh, an economist who works on the Occupied Palestinian Territories at UNCTAD.
"I think the main takeaway from the report is that the level of destruction that we're witnessing in Gaza is unprecedented. It's going to take a lot of efforts from the international community for the rebuilding and recovery in Gaza."
UNCTAD said that in order to recover following a previous Israeli military intervention in Gaza in 2014, the enclave needs stood at around $3.9 billion. Those needs would be significantly higher following the current conflict, it said.
"Given the level of destruction and the intensity of the damages we're witnessing currently in Gaza, and that the military operation is still ongoing, the number required for recovery in Gaza will be multiple times the $3.9 billion required after the 2014 war," Allazeh said.
Gaza's economy had been in a shambles even prior to the conflict due to the Israeli economic blockade, with the enclave's economy contracting 4.5% in the first three quarters of 2023, according to UNCTAD estimates.
Two-third of the population lived in poverty and 45% of the workforce were unemployed before the conflict. As of December, unemployment had surged to a staggering 79.3%, UNCTAD said.
"I don't think the international community or the people in Gaza can afford decades of humanitarian catastrophe," Allazeh said.
"Gaza needs to be part of the development agenda rather than being treated as a humanitarian case." REUTERS
|
https://www.straitstimes.com/world/middle-east/gazas-economy-could-take-decades-to-recover-un-trade-body-says
| 2024-01-31T18:33:37Z
|
blocked_url
|
MOSCOW -Russia's lower house of parliament on Wednesday gave its final approval to a new law that would allow the authorities to confiscate property from people convicted of deliberately spreading fake news about the army.
The chamber, the State Duma, approved the legislation in its third and final reading by 377 out of a possible 450 votes for, none against and no abstentions, according to footage of the session released by the Duma.
"Why to this day is there no law that protects soldiers fighting for our country, dying for our country, for (their) families ... why is there no law that protects them?" chairman Vyacheslav Volodin told lawmakers during the session.
"Why is there no law that punishes the rascals who stab our fighters, soldiers and officers in the back? Many of them ... have left the country. But how can we influence them?" he said, answering his own question: "Confiscation of property."
Russia has cracked down on dissent over its invasion of Ukraine in 2022, which Moscow called a special military operation, as the war between the two countries rumbles on.
The measure will apply to those found guilty of "discrediting" the armed forces, those calling for sanctions against Russia and those found guilty of inciting extremist activity.
The law, which will still needs to be approved by the upper house of parliament and President Vladimir Putin, would also allow the state to seize the property of Russians who have left the country and have criticised the war in Ukraine while continuing to rely on revenue from renting out their houses or apartments in Russia. REUTERS
|
https://www.straitstimes.com/world/russia-lawmakers-back-confiscations-from-those-discrediting-army
| 2024-01-31T18:33:48Z
|
blocked_url
|
WASHINGTON - The chief executives of social media companies Meta, X, TikTok, Snap, and Discord faced tough questions on their efforts to combat online child sexual exploitation at a US Senate hearing on Jan 31.
Senator Dick Durbin, the Judiciary Committee’s Democratic chairman, cited statistics from the National Centre for Missing and Exploited Children nonprofit group that showed financial “sextortion,” in which a predator tricks a minor into sending explicit photos and videos, had skyrocketed in 2023.
“This disturbing growth in child sexual exploitation is driven by one thing: changes in technology,” Mr Durbin said during the hearing.
As the hearing kicked off on Jan 31, the committee played a video in which children spoke about being victimised on the social media platforms.
“I was sexually exploited on Facebook,” said one child in the video, who appeared in shadow.
In the hearing room, dozens of parents stood waiting for the CEOs to enter, holding pictures of their children.
“Mr Zuckerberg, you and the companies before us, I know you don’t mean it to be so, but you have blood on your hands,” said Senator Lindsey Graham, referring to Meta CEO Mark Zuckerberg.
“You have a product that’s killing people.”
The Jan 31 hearing also marks the first appearance by TikTok chief executive officer Chew Shou Zi before US lawmakers since March 2023, when the Chinese-owned short video app company faced harsh questions, including some suggesting the app was damaging children’s mental health.
“We make careful product design choices to help make our app inhospitable to those seeking to harm teens,” Mr Chew said, adding TikTok’s community guidelines strictly prohibit anything that puts “teenagers at risk of exploitation or other harm – and we vigorously enforce them.”
Mr Chew disclosed more than 170 million Americans used TikTok monthly – 20 million more than the company said in 2023.
Under questioning by Mr Graham, he said TikTok would spend more than US$2 billion (S$2.6 billion) on trust and safety efforts, but declined to say how the figure compared to the company’s overall revenue.
Mr Zuckerberg, whose Meta owns Facebook and Instagram; X CEO Linda Yaccarino; Snap CEO Evan Spiegel; and Discord CEO Jason Citron also testified.
“We’re committed to protecting young people from abuse on our services, but this is an ongoing challenge,” Mr Zuckerberg said, in testimony delivered at the hearing.
“As we improve defences in one area, criminals shift their tactics, and we have to come up with new responses.”
Mr Zuckerberg reiterated that the company has no plans to move forward with a previous idea to create a children’s version of Instagram.
Mr Speigel said Snap’s parental controls resemble “how we believe parents monitor their teens activity in the real world – where parents want to know who their teens are spending time with but don’t need to listen in on every private conversation.”
The committee last year approved several Bills, including one that would remove tech firms’ immunity from civil and criminal liability under child sexual abuse material laws that was first proposed in 2020.
None have become law.
Senator Amy Klobuchar on Jan 31 questioned what she said was inaction in the tech industry, comparing it to the response shown when a panel blew out of a Boeing plane early in January.
“When a Boeing plane lost a door in flight several weeks ago, nobody questioned the decision to ground a fleet... So why aren’t we taking the same type of decisive action on the danger of these platforms when we know these kids are dying?“ Ms Klobuchar said. REUTERS
|
https://www.straitstimes.com/world/united-states/chiefs-of-meta-tiktok-x-face-tough-questions-on-child-safety-at-us-senate-hearing
| 2024-01-31T18:33:58Z
|
blocked_url
|
Nearly 22 years into their marriage, the love between Julia Roberts and Danny Moder remains as strong as ever, as evidenced by the star's latest tribute.
Julia, 56, took to her Instagram page to share the sweetest message for her husband, who turns 55 today, January 31, and paired it with the most adorable photo.
In her snap, she sat by Danny's lap as they lovingly gazed into each other's eyes. Julia wrote: "Happy Birthday to this amazing man who lights up our world."
Julia and cinematographer Danny met on the set of her 2000 film The Mexican, when the latter was still married to first wife Vera Steimberg and Julia was dating actor Benjamin Bratt.
A year later, Danny and Vera filed for divorce and Julia and Benjamin broke up, and on July 4, 2002, Julia and Danny tied the knot. They're the parents of three children: twins Phinnaeus and Hazel, 19, and younger son Henry, 16.
Recently, when on the Today Show with Hoda Kotb, the Oscar-winning star spoke fondly of her husband. "Danny really is the bedrock of our family," she shared.
"He's our anchor and, in the most beautiful way, the captain of our ship. I feel incredibly grateful for his presence in our lives."
She joked after: "I'm not handing over all the credit. It's just that my understanding of a deeply felt life truly began with him."
LATEST: Julia Roberts looks sublime in silhouette-enhancing coat and new hair
In an interview with Vogue, the Pretty Woman star talked about being able to find a work and family balance as one of the highest-paid actresses in the game. "Well, I think that the luckiest aspect of my work life/family life is that the success of my work life came earlier.
"So by the time I had the success of my family life and had a husband and children who wanted to stay home, I had been working for 18 years. And so I felt that I had the luxury. I didn't have to pick one or the other."
EXCLUSIVE: Leave the World Behind stars reveal what it's really like working with Julia Roberts
She continued that due to having established a strong career before building a family, making that choice to choose one over the other became easier. "It was easy to pause work life to nurture my home life.
"And so, because I have girlfriends who were having to juggle being at work and having to go into the bathroom, and you know, get out that breast pump, I sort of went through that with them by proxy. To be allowed the luxury of staying home and being with my family, I had a deep gratitude for that time."
Julia remarked, though, that if she were to make a choice at an earlier stage of her career, she definitely would've prioritized her family. "But then there's also something to my kids seeing that my creative life is meaningful to me.
"I want them to understand that. Going outside of the house and being creative is really important and vital. And it doesn't take away from my love of home. It's another level of my life."
Get the lowdown on the biggest, hottest celebrity news, features, and profiles coming out of the U.S. Sign up to our HELLO! Hollywood newsletter and get them delivered straight to your inbox.
|
https://www.hellomagazine.com/brides/512472/julia-roberts-cozies-up-husband-danny-moder-loving-birthday-tribute-see-rare-photo/
| 2024-01-31T19:37:14Z
|
blocked_url
|
Lori Harvey is simultaneously showing off her modeling skills, her entrepreneurial spirit, and her impressive physique all at once!
The 27-year-old – whose mom Marjorie Harvey (née Bridges) married Steve Harvey in 2007 – has been modeling since she was three years old, but just landed her biggest milestone yet: a Sports Illustrated Swimsuit Issue debut!
The SKN by LH founder is part of the 2024 class of SI's rookies, and will be making her debut for the issue's milestone 60th publication in May.
On Wednesday, Lori took to Instagram to share a glimpse of the upcoming feature, which was shot in Cancún, Mexico.
The special shoot also served as an opportunity to show off her very own swimsuit line, Yevrah Swim ("Harvey" in reverse), which she launched in August in partnership with influencer-favorite online retailer Revolve.
In the photos, the budding designer appears donning a metallic purple string bikini, and is showing off her washboard abs and glowing tan, as she steps out of the water and onto a boat's stern.
The comments section under the post was quickly flooded with compliments from fans, with one writing: "Unreal," alongside a string of fire emojis, as others followed suit with: "Absolutely stunning," and: "So gorgeous," as well as: "Purple is her color," plus another added: "You never cease to amaze us!"
MORE: Meet Steve Harvey's seven kids
MORE: Steve Harvey looks so different with full gray beard
Opening up to SI about the special experience, Lori declared: "It was definitely a dream come true," adding: "I just immediately got so excited and was smiling from ear to ear," despite the shoot's very early call-time.
Though you certainly wouldn't be able to tell, Lori only got four hours of sleep ahead of the photoshoot, and by 4:30am, she was already getting her hair and make-up done so she could be in front of the camera by sunrise.
Further detailing her time in Mexico, she said: "I would say the three words that I would use to describe it would be manifested, surreal and perfection because it was literally a moment that I manifested. It was a very surreal moment for me, and the entire shoot was just perfection from top to bottom," adding: "Once I got on set, it was just magical."
Moreover, detailing her hopes for her brand – she's currently working on the second collection – she emphasized: "I created this brand from the ground up by myself, I designed everything myself, I picked the fabric, I picked the colorway," also noting: "I'm all about body positivity and inclusion, and I really wanted that to translate when I was creating the brand."
Lori is the youngest daughter of Steve and Marjorie's blended family of seven kids. The Family Feud star shares twin daughters Brandi and Karli, 42, and Broderick, 33, with his first wife Marcia Harvey, plus Wynton, 26, with second wife Mary Lee Shackelford. He adopted all three of Marjorie's children with ex-husband Darnell Woods: Morgan, 38, Jason, 33, and Lori.
Get the lowdown on the biggest, hottest celebrity news, features and profiles coming out of the U.S. Sign up to our HELLO! Hollywood newsletter and get them delivered straight to your inbox.
|
https://www.hellomagazine.com/fashion/512473/steve-harvey-daughter-lori-makes-splash-bikini-photoshoot-si-swimsuit-debut/
| 2024-01-31T19:37:20Z
|
blocked_url
|
There are few pieces more effortless and versatile than a floral midi dress. Not just exclusive to spring and summer, the classic style can also be worn with boots through the colder weather, creating outfits that define throw-on-and-go.
A mainstay on the runway, they're frequently seen at the likes of Erdem and Zimmermann, but if you're looking for high street options, M&S consistently drops gorgeous floral pieces - some that sell out in a matter of hours.
Full disclosure, I am not the biggest fan of floral dresses. While I love how they look on others, I often find them overtly feminine on me, preferring neutrals or even an animal print. But when I saw how quickly their latest midi was selling on the website, I had to take a look in store for myself. I might have walked straight past it if I didn't know it was trending online but I reluctantly picked up my size, and spoiler alert: I was very pleasantly surprised.
Trying on the floral midi tea dress, my initial thought was how flattering the cut is, the definition of a figure-skimming silhouette, it's fitted enough to show just enough of your shape without clinging to anything. It also features three-quarter length sleeves and a classic rounded neckline. Falling to a midi length, it might be closer to a maxi depending on your height. It's available in sizes UK 6-24 and for reference I'm 5'6 and wearing an 8 regular, but it also comes in long and petite.
The fabric feels more expensive than the £39 price tag would suggest. It's lightweight and breezy with a swishy midi skirt that will be a dream during spring and summer. It's still pretty cold in London right now so I styled it with leather knee-high heeled boots (my current go-to with all of my midi dresses) and a longline wool-blend coat in black.
A true all-seasons staple, I'd wear it with white trainers in the warmer months or a pair of strappy sandals with an oversized leather jacket. I finished the look with gold jewellery and a cross-body handbag, but you could add a tote to make it more office-appropriate. Consider me converted.
I'm not alone, other customers are loving the M&S midi dress, with one shopper writing: "Lovely dress. Fits perfectly. Got lots of compliments." While another said: "Lovely material and fits well. Excellent value for money."
Someone who is an unwavering fan of a floral dress is Princess Kate. The 42-year-old royal loves a classic floral midi with long sleeves and has proved she's not adverse to a high street buy, previously stepping out in & Other Stories and Zara.
We could see her wearing this dress with her trusty Castañer espadrille wedges. It's not dissimilar to floral dresses by some of her favourite designer brands like The Vampire's Wife, Faithfull the Brand and Prada, but for a fraction of the price. Unsurprisingly it's selling out fast, so you'll need to run to your closest M&S or make your order online before your size is out of stock.
|
https://www.hellomagazine.com/shopping/512452/marks-and-spencer-trending-floral-midi-dress/
| 2024-01-31T19:37:27Z
|
blocked_url
|
Life is busy! The relentless pace of daily routines and the constant whirlwind of work deadlines, social events and family life leaves little room for rest. In fact, a recent poll revealed that 6 out of 10 adults don't even believe that there are enough hours in the day to get through their to-do lists, let alone find spaces in their calendars for any moments of peace.
But as we all try to navigate the relentless pace of our lives, Mandy Teefey, CEO of mental health organization, Wondermind and mother of actress and pop star Selena Gomez, shares invaluable insights on the significance of doing less in 2024. "We live in a culture that is non stop productivity,” Mandy explains exclusively to HELLO! “And then the more you do, the more you're applauded for, and it's like you're not living for you or your moments anymore. And I don’t think people realize that staying in touch with who you are is a lot healthier than avoiding it and just filling your time with duties. ”
Mandy believes that the constant glorification of being on-the-go needs to stop and she says that we should be taking a more mindful approach to life instead. One that prioritizes self-care, setting boundaries, and embracing moments of stillness. "We need to give ourselves permission to just be in moments and then relax and still know that that's okay,” she explains. “Constantly emailing, DMing or staying connected shouldn’t mean that you're winning at life. because you're not."
Here we delve into Mandy's 5 valuable lessons on how we can all do less everyday, yet still get through that to-do list, even when life is extra busy:
1. Don’t be so reactive, especially with emails
Ever found yourself receiving an email that makes you really mad and the first thing that you do is react? Mandy believes that those spontaneous reactions, especially when they come from anger or disappointment, can just drain your energy and time, and make you less productive in the long run. "It's definitely better to always take a step back before you react to things,” Mandy explains. “This also sets some boundaries, because if you always answer right away, they always expect that. But if you start the behaviour of taking an hour out of your diary to answer all of your emails, you will then have time to think about your replies, while also save time and energy stressing about them too."
2. Learn how to delegate
"Delegation has always been really hard for me, especially because I had Selena when I was 16, and so being a young mum, I was always responsible for other people while also having to take care of myself,” Mandy explains. “But something has to give so you can find time for yourself. You need to seek a support system - whether that’s through friends, family or work colleagues. Then you’ll be able to plan your day a lot more efficiently.”
3. Be realistic about your to-do lists
“We’re never gonna complete the to-do list as long as we live, so why let it control your life? You need to take personal accountability of prioritizing - just make sure that you get to the top priority of that day. And then if it can go to the next day, don’t stress about it. It’s OK not to complete 30 tasks in one day!”
4. Wake up up earlier to fit in some me-time
"My top advice to anybody wanting to free up some space in their diary is to learn how to have an efficient morning routine. Ever since I started organising my morning routine and began waking up earlier, my life has been so much better. It's just paced better; it’s controlled better and I feel better. The house is quiet and peaceful. I have time to make my coffee, do my face routine and read. And it is not until then that I look at my to-do list and schedule my whole day so there’s no surprises.”
5. Put your phone down
“The phone is a huge deterrent because there’s so many social platforms that you can waste time on and they can give you anxiety. Everybodys bragging about everything that they are doing. I used to sleep with my phone underneath my pillow until I realised how much time I was wasting because having it there, I was more likely to start scrolling, I mean when you think about it - what earth shattering thing could possibly be happening at 3 in the morning? Now I don’t look at my phone until 45 minutes after I wake up, and even then I sometimes forget
. And if there’s an emergency, I’ll see it on there, but I’m not scrolling through Instagram - which will make me even more stressed - seeing everyone living their perfect lives, in their perfect houses with their perfect kids.”
|
https://www.hellomagazine.com/healthandbeauty/health-and-fitness/512474/im-a-mental-health-expert-heres-how-you-can-do-less-everyday-and-stay-happy/
| 2024-01-31T20:03:32Z
|
blocked_url
|
Katie Holmes' only child, who she share with ex-husband Tom Cruise, has quite the year ahead of her!
The notoriously private teenager is facing not one but two milestone moments in her life this year, and is likely excited for them both.
Katie's mini-me will become an official adult come April, when she turns 18 on the 18th, followed by another transition several months later.
That's because Suri will be leaving high school, and is likely to go onto college. It has been previously reported that Katie is keen for her daughter to stay in New York City to study, but Suri - who is interested in the arts - may well choose to move further a field for her higher education.
While not that much is known about the teen, it's known that she's an incredibly talented singer. In 2022, Suri sang in the opening credits of Katie's film, Alone Together, when she was just 15.
She sang a pitch-perfect rendition of Blue Moon, and her mom was more than proud. Chatting to Yahoo! Entertainment about her daughter's role in the movie, she said: "She's very, very talented.
She said she would do it and she recorded it and I let her do her thing. "That's the way I direct in general: It's like, 'This is what I think we all want - go do your thing'." The mom-of-one was asked why she chose Suri for the job and she said: "I always want the highest level of talent, so I asked her."
Suri is incredibly creative and these skills have been encouraged by her mom. Katie previously revealed that the pair enjoyed many crafty hobbies during the height of the pandemic during lockdown.
"I painted, we had a sewing machine, so we were making quilts, we were cooking; we were on a perpetual vacation," Katie told the sophomore issue of Amazing magazine.
"We were also on a lake and there was a hammock, so I would wake up, sew, have coffee, take a nap on the hammock [laughs]… Oh and, by the way, I have to throw this in; we were staying by a lake, so we probably watched Dirty Dancing ten times. Let me tell you, I danced to it in the living room, and it still holds up. It was fun."
In 2022, Katie gave another rare snippet into her relationship with Suri, telling InStyle: "I love her so much. My biggest goal has always been to nurture her into her individuality. To make sure she is 100 per cent herself and strong, confident, and able. And to know it." Suri lives full-time with Katie and is believed to be estranged from her dad.
Read more HELLO! US stories here
Get the lowdown on the biggest, hottest celebrity news, features and profiles coming out of the U.S. Sign up to our HELLO! Hollywood newsletter and get them delivered straight to your inbox.
|
https://www.hellomagazine.com/healthandbeauty/mother-and-baby/512476/katie-holmes-daughter-suri-faces-year-of-change-in-new-york-city/
| 2024-01-31T20:03:38Z
|
blocked_url
|
Myanmar's military rulers on Wednesday extended a state of emergency in place since a 2021 coup, as the junta battles to contain a bloody, pro-democracy rebellion that has severely tested its ability to govern.
Junta chief Min Aung Hlaing deemed it necessary to extend emergency rule for a further six months to undertake tasks necessary "to bring the nation to a normal state of stability and peace," military-run media outlet Myawaddy said on Telegram.
The generals are facing their biggest challenge since first taking power in the former British colony in 1962, with a youth-led pro-democracy uprising morphing into an armed resistance movement after a lethal crackdown on a wave of protests and post-coup dissent.
The junta has deployed heavy artillery and fighter jets to try to suppress militias allied with a shadow government and ethnic minority armies, several of which launched a coordinated offensive in October that stunned the military and has dented its battlefield credibility.
Marking the coup anniversary, U.N. Secretary-General Antonio Guterres stressed "the urgency of forging a path towards a democratic transition with a return to civilian rule," said U.N. spokesperson Stephane Dujarric.
"An inclusive solution to this crisis requires conditions that permit the people of Myanmar to exercise their human rights freely and peacefully. The military's campaign of violence targeting civilians and political repression must end, and those responsible be held to account," Dujarric said.
About 2.3 million people have been displaced, according to the United Nations, while efforts by Myanmar's Southeast Asian neighbours to initiate dialogue have seen no progress, with the junta refusing to negotiate with what it calls "terrorists".
The extension of emergency rule came on the eve of the third anniversary of the military wresting back power in the coup citing unaddressed electoral irregularities, in an abrupt and unpopular end to a decade of tentative democracy and economic reform.
HOLD ON POWER UNCERTAIN
That came a few months after a landslide election win by then leader Aung San Suu Kyi's ruling National League for Democracy (NLD), which had planned to change the constitution to cut the powerful military out of politics and bring it under civilian control.
The military has promised to hold an election and return Myanmar to the quasi-civilian system it created, but has disbanded at least 40 parties and jailed Suu Kyi for 33 years, commuted to 27, on what her supporters say were trumped-up charges.
Earlier on Wednesday it announced an easing of registration requirements for political parties, without saying why. It gave no timeframe for the election. Western countries have signalled they will not recognise the polls.
The parallel National Unity Government, which controls militias, on Wednesday issued a statement along with three ethnic minority rebel groups saying they were open to negotiations with the military, contingent on it ceding power and bringing the armed forces under civilian control.
Richard Horsey, senior Myanmar adviser to Crisis Group, said the military's weaknesses were exposed in recent months through its loss of troops and territory, with pressure building from within on coup leader Min Aung Hlaing.
"The military's hold on power is more uncertain than at any time in the last 60 years," he said.
"But it seems determined to fight on, and retains an enormous capacity for violence, attacking civilian populations and infrastructure in areas it has lost, using air power and long range artillery." REUTERS
|
https://www.straitstimes.com/asia/myanmars-embattled-junta-extends-emergency-rule-on-eve-of-coup-anniversary
| 2024-01-31T20:03:49Z
|
blocked_url
|
WASHINGTON - The US Federal Reserve voted on Jan 31 to leave interest rates unchanged for a fourth straight meeting, but said the “risks to achieving its employment and inflation goals are moving into better balance.”
The Fed has a dual mandate to keep both inflation and the unemployment rate low, and has been heavily focused on bringing high inflation back down towards its long-term target of 2 per cent.
The US central bank confirmed in a statement that it was holding its benchmark lending rate steady at a 23-year high between 5.25 per cent and 5.5 per cent.
The Fed added that its rate-setting committee is unlikely to start cutting interest rates “until it has gained greater confidence that inflation is moving sustainably towards 2 per cent.”
The Fed’s favoured inflation measure, which strips out volatile food and energy prices, has now fallen below an annual rate of 3 per cent, while economic growth remained robust at 2.5 per cent in 2023 and unemployment stayed close to historic lows.
“The data to date has been stunningly good,” KPMG chief economist Diane Swonk wrote in a blog post this week.
Fresh data published on Jan 31 from payroll firm ADP showed that private sector hiring has cooled more than expected this month, further underscoring the Fed’s progress. AFP
|
https://www.straitstimes.com/business/economy/us-fed-holds-key-rate-steady-for-fourth-straight-meeting
| 2024-01-31T20:03:59Z
|
blocked_url
|
England spinner Jack Leach will miss the second test against India that starts on Friday due to a knee injury, captain Ben Stokes confirmed on Wednesday.
The 32-year-old sustained the injury during the first test on Sunday, where England secured a thrilling 28-run victory, and consequently, he did not take part in Wednesday's training.
"He's ruled out of the second test," Stokes said. "Hopefully, it does not keep him out for longer in the series."
Leach's team mate at Somerset, 20-year-old spinner Shoaib Bashir, is in the frame to make his international debut as a potential replacement for Leach.
Bashir was ruled out of the opening test against India following a visa delay that was later fixed.
"When it came to selection of the squad, there wasn't too much thought around him because everyone was very, very impressed with what Bash (Bashir) showed," Stokes added.
"Everything we wanted in our spin group was answered by Bashir."
The second test against India will take place in Visakhapatnam from Feb. 2-6. REUTERS
|
https://www.straitstimes.com/sport/england-spinner-leach-out-of-second-india-test-with-knee-injury
| 2024-01-31T20:04:10Z
|
blocked_url
|
DOHA - Iran survived going down to 10 men to beat Syria 5-3 in a penalty shootout in the Asian Cup last-16 on Wednesday after the game ended 1-1 after extra time, setting up a tasty quarter-final clash with four-times champions Japan.
Syria's Fahd Youssef saw his penalty saved by goalkeeper Alireza Beiranvand in the shootout while Iran converted all their spot kicks, with skipper Ehsan Hajsafi netting the decisive one.
Iran were one of three teams to finish the group stage with maximum points and knockout stage debutants Syria had done well to contain them until they gifted their Middle Eastern counterparts a penalty in the first half.
Aiham Ousou deliberately barged into Mehdi Taremi without making any attempt to go for the ball and the Iranian striker stepped up to take the penalty, firing the spot kick into the bottom-right corner for his third goal of the tournament.
But Syria levelled when Pablo Sabbag came on as a substitute and immediately won a penalty when he beat the offside trap and was fouled by Beiranvand, with Omar Khribin calmly slotting it home to make it 1-1.
Things went from bad to worse for Iran when Taremi was sent off for a second yellow card. Having been booked for simulation earlier, Taremi fouled Alaa Al-Dali to earn another booking and reduce Iran to 10 men for the final minutes and extra time.
However, Iran managed to hold on and take the game to penalties where they were unfazed by the pressure, extending coach Amir Ghalenoei's unbeaten run to 15 games since he took charge of Team Melli in March last year. REUTERS
|
https://www.straitstimes.com/sport/football/iran-dump-syria-out-of-asian-cup-on-penalties-to-set-up-quarter-final-with-japan
| 2024-01-31T20:04:20Z
|
blocked_url
|
The napkin on which 13-year-old Lionel Messi signed his first contract with Barcelona will be auctioned in March for a starting price of 300,000 pounds ($381,000), British auction house Bonhams said on Wednesday.
The napkin was signed in December, 2000 when Carles Rexach, then Barca's sporting director, agreed with Jorge Messi, Messi's father, and agent Horacio Gaggioli to recruit the Argentine teenager who went on to become the club's all-time top scorer.
The pivotal moment in football history happened after Rexach invited Messi senior to have lunch over his concerns at the lack of response following his son's initial trials at the Spanish club.
"In Barcelona, on 14 December 2000 and in the presence of Messrs Minguella and Horacio, Carles Rexach, FC Barcelona's sporting director, hereby agrees, under his responsibility and regardless of any dissenting opinions, to sign the player Lionel Messi, provided that we keep to the amounts agreed upon," is written on the napkin from the Pompeia tennis club.
The agreement, ratified by then club president Joan Gaspart, was formally signed that same night and a month later Barcelona completed the signing of Messi to begin his 20-year stay at the Catalan club.
The eight-times Ballon d'Or winner helped Barca win 35 titles, making a record 782 appearances and scoring 674 goals. REUTERS
|
https://www.straitstimes.com/sport/football/napkin-messi-signed-to-join-barcelona-goes-to-auction
| 2024-01-31T20:04:31Z
|
blocked_url
|
Bernhard Langer has missed the Masters cut for the last three years but the two-times champion will be doing all he can to snap that streak this year and make the most of his final start at Augusta National.
The 66-year-old German, speaking to reporters on Wednesday ahead of his title defense at the PGA Tour Champions' Feb. 16-18 Chubb Classic, admits it will be a tough farewell.
"I'll be very emotional. Hopefully, I won't be crying playing these last few holes, but there's no guarantee because I have friends from Germany flying in," said Langer.
"My brother will fly over. I have lots of American friends that will try and come up and support me and be there for me when I play my last round which is hopefully Sunday, not Friday, but we'll see."
Langer has made 40 Masters appearances and his two triumphs at Augusta National Golf Club highlight a World Golf Hall of Fame career that also includes 10 European Ryder Cup teams and over 60 worldwide wins.
Langer won his first Green Jacket in 1985 when he rallied from a four-stroke deficit in the final round and birdied four of the last seven holes to beat Curtis Strange, Seve Ballesteros and Raymond Floyd by two shots.
He triumphed at Augusta National eight years later when he made a decisive eagle on the 13th and cruised to a four-stroke victory over Chip Beck.
At the 2020 Masters, played in November due to the COVID-19 pandemic, Langer opened with an impressive 68 en route to finishing in a share of 29th place.
Langer, who has only twice failed to break 80 at the Masters, still looks fitter than many competitors but knows the sobering reality that while the pristine course rewards those with experience, all Augusta National runs must come to an end.
"Playing the course in the '80s was totally different than now. There was no rough. There were wide fairways. The edges were pine needles. So it was all about the second shot," said Langer.
"Now they've planted 5,000 trees or more. The fairways are quite a bit tighter. You have rough on both sides. It's still a second-shot golf course, but it's a much harder driving golf course now than it ever has been before."
This year's Masters runs from April 11-14. REUTERS
|
https://www.straitstimes.com/sport/golf/langer-hopes-for-late-end-to-emotional-masters-farewell
| 2024-01-31T20:04:41Z
|
blocked_url
|
Ukraine's government has submitted an amended draft bill that would tighten the rules on army mobilisation for debate in parliament. The bill, if passed, would allow Kyiv to call up more people and tighten punishments for draft dodging.
An earlier version of the bill drew criticism from some politicians and members of the public. It was rejected by lawmakers in parliament and sent back for changes to be made.
The amended version has retained the main proposals of the initial one, but it has softened some of them.
WHY HAVE THE PROPOSALS BEEN MADE?
Ukraine began mobilising civilians after declaring martial law in February 2022 when Russia invaded. An influx of volunteer fighters helped at first but their number has dwindled. Nine thousand criminal cases have been opened into draft evasion, according to Kyiv.
President Volodymyr Zelenskiy said last month the military had proposed mobilising 450,000-500,000 more people. Army chief General Valeriy Zaluzhnyi has said the figure takes into account the military's plans and projections of possible losses.
PUNISHMENTS FOR DRAFT EVASION
The bill sets out punishments for those who flout the law on mobilisation, which governs how civilians are conscripted into the army during martial law.
The bill would allow courts to freeze assets and impose restrictions on going abroad or driving a vehicle for people who fail to abide by the mobilization rules and do not report to registration centres.
Citizens of military age would be obliged to carry military registration documents with them and police would have the right to check them at any time.
MOBILISATION AGE
The amended bill proposes lowering the age people can be mobilised for combat duty to 25 from 27. Such a move would allow Ukraine to call up more people to replenish its reserves. The exact figures have not been made public for security reasons.
Parliament approved this same change last spring but it did not come into force because Zelenskiy did not sign it.
ONLINE CALL-UPS
Draft offices would be able to issue online call-ups to people via an account that citizens would be obliged to have.
Such a step would make it harder to evade draft officers who currently give call-up papers to civilians in the street or send them to people's known home addresses.
DEMOBILISATION
The bill proposes discharging soldiers who have served continuously for 36 months during martial law. This is a sensitive issue for families of soldiers who have been fighting for almost two years and are exhausted. There is currently no time limit on wartime military service.
Nonetheless, demobilisation in this case would not be automatic.
MILITARY REGISTRATION FOR THOSE ABROAD
Martial law prohibits men of military age from going abroad and there is no common procedure to call up people abroad.
It is unclear what the process would look like as the bill only says it is to be determined by the government.
The draft proposes tracking people who are abroad and requiring them to have up-to-date military registration.
Receiving consular services for things like passports would require citizens to present their military registration documents.
OTHER PROVISIONS
Under a new provision in the bill, people who received a suspended sentence would be allowed to serve. Convicts are currently banned from any type of service - either compulsory or volunteer - in the army.
The bill removes the right of some categories of civil servant to defer their conscription. The Defence Ministry introduced this change to make military registration fair and equal for all.
After mobilisation, all people must undergo a compulsory two-three months training to be sent to a combat area.
PARLIAMENTARY PROCESS
Now the bill has been submitted to lawmakers, it needs to be approved by a committee before being sent to parliament for debate in two or three readings. It is likely to change during that process. Once passed, it has to be signed by the president before it becomes law. REUTERS
|
https://www.straitstimes.com/world/europe/explainer-embattled-ukraine-moves-to-tighten-army-mobilisation-rules
| 2024-01-31T20:04:51Z
|
blocked_url
|
WARSAW - Poland's president opted to sign the country's budget but send it to a top court to check it was in line with the constitution, his office said on Wednesday, in a move likely to exacerbate tensions with a new government from an opposing political camp.
Poland's pro-European coalition government led by Prime Minister Donald Tusk has promised to revert changes introduced by the former nationalist Law and Justice (PiS) administration which caused a conflict with the European Union over the rule of law.
However, it faces resistance from allies of the former ruling party who remain in positions of power, most notably President Andrzej Duda.
Duda's office said on Wednesday he signed the budget and two other bills but decided to send them to the Constitutional Tribunal to check whether they are compliant with the constitution as two PiS lawmakers had been unable to take part in the votes on them.
Former Interior Minister Mariusz Kaminski and his deputy Maciej Wasik were convicted of abuse of power in their previous roles and lost their seats in parliament. Both men were pardoned last week by Duda.
"Similar actions will be taken by the President of the Republic of Poland each time Members of Parliament are prevented from exercising their mandate resulting from general elections," Duda's office said in a statement.
Constitution expert Marek Chmaj from SWPS University in Warsaw told Reuters the budget act would enter into force regardless.
"The Tribunal may take it up for consideration in an unspecified time. It is not bound by a deadline," he said.
In line with pledges made by Tusk before last year's general elections, the budget provides money to hike teachers' salaries by around a third while also giving state employees a 20% pay increase.
"The budget was signed and that is what's important. The rest doesn't matter. The money will go to the people, nothing can stop it," Tusk said on a social media platform X. REUTERS
|
https://www.straitstimes.com/world/europe/polish-president-hits-out-at-govt-over-budget-vote
| 2024-01-31T20:05:02Z
|
blocked_url
|
PARIS - The number of active social media users has risen to more than five billion, or about 62.3 per cent of humanity, according to a study published on Jan 31.
The number rose 5.6 per cent in 2023, outpacing the 0.9 per cent increase in the world’s population, said the report by media monitoring company Meltwater and social media agency We are Social.
The social network with the most users was Meta’s Facebook with 2.19 billion.
Meta’s Instagram was next with 1.65 billion, narrowly trailed by TikTok at 1.56 billion.
The report warns that precise numbers are hard to come by because of automated accounts or people using different indentities.
The most searched entry on Wikipedia was “ChatGPT”, the IA language model developed by OpenAI, underscoring the exploding interest in artificial intelligence.
The report was based on figures compiled by digital consultancy company Kepios. AFP
|
https://www.straitstimes.com/world/europe/social-medias-population-breaks-through-5-billion-study-shows
| 2024-01-31T20:05:13Z
|
blocked_url
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.