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A Virginia police officer who pepper-sprayed an Army lieutenant and pushed him to the ground during a traffic stop in 2020 should not face state charges, a special prosecutor says, though he formally referred the case to the US Attorney’s Office for a federal civil rights investigation.
“Although I find the video very disturbing and frankly unsettling, (Officer Raymond) Gutierrez’s use of force to remove (Caron) Nazario did not violate state law as he had given multiple commands for Nazario to exit the vehicle,” Special Prosecutor and Commonwealth’s Attorney Anton Bell wrote after his investigation.
Two Windsor Police officers pulled over 2nd Lt. Nazario, who is Black, in December 2020 and repeatedly used pepper spray on him and pointed their guns at him, according to a news release from former Attorney General Mark Herring’s Office. Officer Gutierrez was fired after the incident but another officer remained on the job, Windsor Town Manager William Saunders previously confirmed to CNN.
CNN previously reported on the video that captured the encounter.
“The problematic issue, however, were Gutierrez’s statements throughout the entire ordeal, which would lead a reasonable person to wonder whether underlying bias was a the root of how and why Nazario was treated in like manner,” Bell wrote.
CNN has been unable to identify a representative for Gutierrez for comment.
CNN has reached out to the town of Windsor and the US Attorney’s Office for the Eastern District of Virginia for comment.
After Gutierrez was fired in 2021, Windsor Police Chief R.D. Riddle told reporters that Gutierrez’s use of the phrase “ride the lightning” in reference to the Taser during the incident was “inappropriate and created unnecessary fear.”
Riddle said he “lost faith” in Gutierrez’s ability to live up to the department’s standards, adding, “I personally felt that there was no way he could effectively serve our community anymore.”
An attorney for Nazario applauded the Commonwealth’s Attorney for requesting the US Attorney’s Office investigate Gutierrez but disagreed with the findings that Gutierrez should not face state charges.
“It should not be the Commonwealth’s Attorney’s place to determine alone that no crime has been committed (especially when the Commonwealth’s Attorney harbors such concerns that they refer the matter to US DOJ,” Attorney Jonathan Arthur said in an email to CNN. “That is why we have the jury system. That is why we have judges. That is not why we have Commonwealth’s Attorneys.”
“All too often, when it comes to law enforcement violating the laws, we see our Commonwealth’s Attorneys fail to apply the same zeal and standards when “prosecuting” law enforcement as they do with other citizens,” Arthur added.
Former Virginia Attorney General Mark Herring sued the town of Windsor in December 2021 as a result of the incident, accusing the town’s police department of discriminating against African Americans and violating their civil rights.
The lawsuit was the first case brought under a new law that allows the state’s leading law-enforcement officer “to sue to stop systemic violations of Virginians’ rights,” according to a previous release from Herring’s office.
A spokesperson for Attorney General Jason Miyares told CNN Tuesday that the lawsuit is still pending.
The attorney general’s office would not comment on the result of the special prosecutor’s investigation or the formal request for the US Attorney’s Office to open a federal civil rights investigation.
CNN’s Amanda Musa contributed to this story | https://www.cnn.com/2022/08/02/us/virginia-caron-nazario-pepper-spray/index.html | 2022-08-02T21:50:17 | en | 0.969933 |
You need to enable JavaScript to run this app. | https://sportspyder.com/nfl/minnesota-vikings/articles/40266315 | 2022-08-02T21:50:17 | en | 0.738227 |
IRVINE, Calif. (WCMH) — Taco Bell’s cult-favorite Mexican Pizza is making its second comeback in a menu drama that began nearly two years ago.
On Tuesday, the restaurant made announcements on social media that the popular item will be back in September. A tweet stated, “The beans have been spilled. See you and the #MexicanPizza 9/15.” An Instagram post added, “For real this time. See you on 9/15.”
The Mexican Pizza was originally dropped by Taco Bell in September 2020, as part of a push toward more sustainable packaging and to “streamline its offerings,” according to the company.
After the announcement, a massive backlash ensued which led to a Change.org petition calling for the item’s return. The fast-food giant relented to public pressure and announced in April 2022 that the pizza would be back, “for good,” in May.
The news was posted on the company’s Instagram and Twitter accounts, with Taco Bell changing its name to “YOU BROUGHT BACK THE MEXICAN PIZZA” on the latter.
Mexican Pizza superfan and Change.org petition organizer Krish Jagirdar, praised the company for its decision in April.
“That’s what made it especially devastating when the Mexican Pizza was pulled from menus in 2020, but fast forward two years later, and I found myself on a conference call with the Taco Bell team as they shared news of the return of the Mexican Pizza, showing that listening to their fans is clearly embedded in their DNA,” said Jagirdar. “It’s one of the many reasons Taco Bell is more than just another fast-food restaurant.”
But the euphoria was shortlived. Almost as soon as the Mexican Pizza returned, Taco Bell locations across the United States began running out of the item.
“Because of the incredible love for the Mexican Pizza, we have begun selling out across the country. Our restaurant teams trained weeks for what we knew would be a big return, we just didn’t realize how big, and replenishing the beloved menu item is taking longer than we’d like,” a statement on Taco Bell’s website read.
The company then set up a Mexican Pizza FAQ page for the latest details and information. Which now confirms the pizza will be back and further explains the item’s false start in May.
“Upon its menu return, demand for the Mexican Pizza was 7x higher than when previously available. While demand and ingredient shortages delayed that permanency, it’ll be here to stay for good when it returns September 15.”
The FAQ page also addresses the delay of the restaurant chain’s “Mexican Pizza: The Musical” collaboration with Dolly Parton.
“The shortage of the Mexican Pizza came with the postponement of Mexican Pizza: the Musical. Stay tuned for more details on how Taco Bell will celebrate the menu item’s return.” | https://www.ktsm.com/news/taco-bells-mexican-pizza-returning-for-a-second-time/ | 2022-08-02T21:50:17 | en | 0.954216 |
RENO, Nev. (AP) _ Caesars Entertainment, Inc. (CZR) on Tuesday reported a second-quarter loss of $123 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Reno, Nevada-based company said it had a loss of 57 cents. Earnings, adjusted to account for discontinued operations, were 16 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The casino and resort operator posted revenue of $2.82 billion in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $2.77 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CZR at https://www.zacks.com/ap/CZR | https://www.myjournalcourier.com/business/article/Caesars-Entertainment-Q2-Earnings-Snapshot-17346271.php | 2022-08-02T21:50:18 | en | 0.948331 |
TPS Software Announces Release of New Functions for Improved Efficiency in Q2 of 2022
VANCOUVER, BC, Aug. 2, 2022 /PRNewswire/ -- TPS Software announces three key software functionalities to improve client experience and adapt to the growing needs of a dynamic business environments. As the accounting profession sees increased value and growth of its services and technology and finance are increasingly intertwined, TPS has launched a suite of services designed to elevate clients' performance in seamless integrations with compatible software and improved efficiency for managing payments and client operations.
"TPS Software has long brought an incredible level of trust to the accounting profession. Clients have long sought out TPS services for our business integrity, and we have continued to exceed industry standards." says Ted Shandro, President at TPS Software, Inc.
TPS Software is proud to provide firms a much sought-after Client Portal feature that provides a secure and simple method of delivering sensitive documents to clients. The TPS Cloud Axis portal displays clients' invoices in summary and detail views, and if integrated with a payment processor, allows the client to pay the invoices online through the portal.
TPS Cloud Axis Client Portal enables integration with online payment processing services such as Stripe, PayPal, and PayClix. Firms are able to connect to existing accounts for flexibility over payment options. Once a firm integrates the online payment processing with TPS cloud Axis, the firm could start inviting clients to pay online in just a few steps with no manual steps needed.
Lastly, the fully bidirectional link with QuickBooks Online lets clients keep both programs in sync with the A/R transactions and the client's primary information. Any invoice, finance charge, or payment will be synchronized between TPS and QBO, avoiding double entries. It offers the option to Import or Export transactions as frequently as required.
TPS Software is excited to announce these three fully operational functionalities for all Cloud Axis clients, continuing to build upon its foundation as the trusted, efficient accounting practice management software built for accountants.
Founded in 1999, TPS has long-served as a trusted and innovative home for accountants' time, billing, and practice management needs. With over 3,000 firms as clients throughout its history in Canada and the United States, TPS provides a sensible solution with affordable, industry-leading, and effective solutions to small and medium-size accounting firms' needs with both on-premise and cloud-based solutions.
Contact
Thomas Dawson
1-888-877-2231
[email protected]
SOURCE TPS Software | https://www.prnewswire.com/news-releases/tps-software-announces-release-of-new-functions-for-improved-efficiency-in-q2-of-2022-301598405.html | 2022-08-02T21:50:20 | en | 0.935682 |
SPARTANBURG, S.C. (AP) _ Denny's Corp. (DENN) on Tuesday reported second-quarter net income of $23 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Spartanburg, South Carolina-based company said it had profit of 37 cents. Earnings, adjusted for non-recurring gains, came to 11 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The restaurant operator posted revenue of $115 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $110.7 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DENN at https://www.zacks.com/ap/DENN | https://www.lakecountystar.com/business/article/Denny-s-Q2-Earnings-Snapshot-17346330.php | 2022-08-02T21:50:20 | en | 0.936754 |
You need to enable JavaScript to run this app. | https://sportspyder.com/nfl/minnesota-vikings/articles/40266581 | 2022-08-02T21:50:23 | en | 0.738227 |
SAN ANTONIO, Texas (ValleyCentral) — A man was shot and killed after a gunman went up to him inside an LA Fitness in northern San Antonio.
At about 7 p.m., officers responded at the 7100 block of Blanco Rd where the victim was pronounced dead on the scene.
The suspect, Jessie MacWilliams, 32, was located near the scene and taken into custody. Police said MacWilliams did not have the weapon on him while being detained, but the weapon was recovered at the scene.
MacWilliams was charged with murder, according to police. The motive behind the shooting is under investigation. | https://www.ktsm.com/news/texas-man-shot-and-killed-in-gym-suspect-arrested/ | 2022-08-02T21:50:24 | en | 0.990862 |
LINCOLNSHIRE, Ill. (AP) _ Camping World Holdings Inc. (CWH) on Tuesday reported second-quarter profit of $84.3 million.
The Lincolnshire, Illinois-based company said it had net income of $2.01 per share. Earnings, adjusted for one-time gains and costs, were $2.16 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.
The recreational vehicle retailer and services provider posted revenue of $2.17 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.03 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CWH at https://www.zacks.com/ap/CWH | https://www.myjournalcourier.com/business/article/Camping-World-Q2-Earnings-Snapshot-17346497.php | 2022-08-02T21:50:24 | en | 0.952561 |
- Net income of $370.4 million ($1.83 per diluted common share) for the second quarter of 2022; after-tax adjusted operating income was $386.6 million ($1.91 per diluted common share).
- Results reflect improving trend in COVID-related mortality impacts, strong operating performance, and favorable sales and premium trends in core business segments.
- Strong balance sheet and liquidity with holding company liquidity of $1.2 billion and weighted average risk-based capital ratio of approximately 415 percent.
- Full-year 2022 outlook increased; after-tax adjusted operating income per share now expected to grow 40 percent to 45 percent relative to full-year 2021, compared to the previous outlook of an increase of 15 percent to 20 percent.
- Book value per common share of $48.47 declined 9.5 percent over the year-ago quarter; book value per common share excluding accumulated other comprehensive income (loss) (AOCI) grew 9.2 percent over the year-ago quarter to $57.32.
CHATTANOOGA, Tenn., Aug. 2, 2022 /PRNewswire/ -- Unum Group (NYSE: UNM) today reported net income of $370.4 million ($1.83 per diluted common share) for the second quarter of 2022, compared to net income of $182.9 million ($0.89 per diluted common share) for the second quarter of 2021.
Included in net income for the second quarter of 2022 are the after-tax amortization of the cost of reinsurance of $13.1 million ($0.06 per diluted common share) and a net after-tax investment loss on the Company's investment portfolio of $3.1 million ($0.02 per diluted common share). Included in net income for the second quarter of 2021 are after-tax costs related to the early retirement of debt of $53.2 million ($0.26 per diluted common share), an after-tax impairment loss on the right-of-use (ROU) asset related to one of our operating leases for office space that we are no longer using to support our general operations of $11.0 million ($0.05 per diluted common share), the net tax expense related to a U.K. tax rate increase of $24.2 million ($0.12 per diluted common share), the after-tax amortization of the cost of reinsurance of $15.5 million ($0.08 per diluted common share), as well as a net after-tax investment gain on the Company's investment portfolio of $0.6 million ($0.01 per diluted common share). Excluding the items above, after-tax adjusted operating income was $386.6 million ($1.91 per diluted common share) in the second quarter of 2022, compared to $286.2 million ($1.39 per diluted common share) in the second quarter of 2021.
"Our strong second quarter results were driven by continued growth in premium income across our core business segments and positive benefits experience," said Richard P. McKenney, president and chief executive officer. "The current business environment remains favorable, and our capital strength provides continued financial flexibility. These factors, combined with our team's consistent execution, enable us to increase our outlook for growth in 2022."
RESULTS BY SEGMENT
We measure and analyze our segment performance on the basis of "adjusted operating income" or "adjusted operating loss", which differ from income before income tax as presented in our consolidated statements of income due to the exclusion of investment gains and losses, amortization of cost of reinsurance, and certain other items. Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for income before income tax or net income.
Unum US Segment
Unum US reported adjusted operating income of $295.4 million in the second quarter of 2022, an increase of 64.8 percent from $179.3 million in the second quarter of 2021. Premium income increased 3.3 percent to $1,572.3 million in the second quarter of 2022, compared to $1,522.1 million in the second quarter of 2021. Net investment income decreased 8.6 percent to $167.8 million in the second quarter of 2022, compared to $183.6 million in the second quarter of 2021.
Within the Unum US operating segment, the group disability line of business reported a 79.5 percent increase in adjusted operating income to $107.5 million in the second quarter of 2022, compared to $59.9 million in the second quarter of 2021. Premium income for the group disability line of business increased 5.1 percent to $706.5 million in the second quarter of 2022, compared to $672.2 million in the second quarter of 2021 due primarily to in-force block growth, favorable persistency, and higher sales across all product lines. Net investment income decreased 6.9 percent to $87.5 million in the second quarter of 2022, compared to $94.0 million in the second quarter of 2021, driven by lower miscellaneous investment income and a decrease in the yield on invested assets. The benefit ratio for the second quarter of 2022 was 66.4 percent, compared to 74.7 percent in the second quarter of 2021, due primarily to favorable claim recoveries in the group long-term disability product line as well as lower claims incidence in both the group short-term and long-term disability product lines. Group long-term disability sales were $63.2 million in the second quarter of 2022, an increase of 50.5 percent from $42.0 million in the second quarter of 2021. Group short-term disability sales were $36.3 million in the second quarter of 2022, an increase of 16.3 percent from $31.2 million in the second quarter of 2021. Persistency in the group long-term disability product line was 90.9 percent for the first half of 2022, compared to 90.1 percent for the first half of 2021. Persistency in the group short-term disability product line was 89.2 percent for the first half of 2022, compared to 87.2 percent for the first half of 2021.
The group life and accidental death and dismemberment line of business reported an adjusted operating income of $67.3 million in the second quarter of 2022, compared to $5.2 million in the second quarter of 2021. Premium income for this line of business increased 1.5 percent to $463.4 million in the second quarter of 2022, compared to $456.6 million in the second quarter of 2021 driven by in-force block growth, partially offset by lower persistency. Net investment income decreased 7.4 percent to $24.9 million in the second quarter of 2022, compared to $26.9 million in the second quarter of 2021, due to lower miscellaneous investment income, partially offset by a higher level of invested assets. The benefit ratio in the second quarter of 2022 was 70.7 percent, compared to 85.2 percent in the second quarter of 2021, largely due to lower mortality in the group life product line, resulting primarily from lessening impacts of COVID-19 on our insured population. Sales of group life and accidental death and dismemberment products increased 20.7 percent in the second quarter of 2022 to $77.0 million, compared to $63.8 million in the second quarter of 2021. Persistency in the group life product line was 89.4 percent for the first half of 2022, compared to 90.1 percent for the first half of 2021. Persistency in the accidental death and dismemberment product line was 88.2 percent for the first half of 2022, compared to 89.6 percent for the first half of 2021.
The supplemental and voluntary line of business reported an increase of 5.6 percent in adjusted operating income to $120.6 million in the second quarter of 2022, compared to $114.2 million in the second quarter of 2021. Premium income for the supplemental and voluntary line of business increased 2.3 percent to $402.4 million in the second quarter of 2022, compared to $393.3 million in the second quarter of 2021, with growth across all product lines due primarily to generally favorable persistency and higher sales. Net investment income decreased 11.6 percent to $55.4 million in the second quarter of 2022, compared to $62.7 million in the second quarter of 2021, due primarily to lower miscellaneous investment income, a decline on yield on invested assets, and a decrease in the level of invested assets. The benefit ratio for the voluntary benefits product line was 40.8 percent in the second quarter of 2022, compared to 44.2 percent for the second quarter of 2021, due primarily to favorable claims experience in the critical illness product line. The benefit ratio for the individual disability product line was 41.3 percent for the second quarter of 2022, compared to 48.4 percent for the second quarter of 2021, due primarily to lower claims activity. The benefit ratio for the dental and vision product line was 72.9 percent for the second quarter of 2022, compared to 77.1 percent for the second quarter of 2021, due primarily to lower claims incidence. Relative to the second quarter of 2021, sales in the voluntary benefits product line increased 23.6 percent in the second quarter of 2022 to $54.0 million. Sales in the individual disability product line increased 25.5 percent in the second quarter of 2022 to $18.7 million. Sales in the dental and vision product line totaled $12.9 million for the second quarter of 2022, a decrease of 0.8 percent compared to the second quarter of 2021. Persistency in the voluntary benefits product line was 75.8 percent for the first half of 2022, compared to 74.5 percent for the first half of 2021. Persistency in the individual disability product line was 89.4 percent for the first half of 2022, compared to 89.0 percent for the first half of 2021. Persistency in the dental and vision product line was 82.0 percent for the first half of 2022, compared to 86.6 percent for the first half of 2021.
Unum International
The Unum International segment reported adjusted operating income of $24.9 million in the second quarter of 2022, an increase of 0.4 percent from $24.8 million in the second quarter of 2021. Premium income decreased 2.2 percent to $179.4 million in the second quarter of 2022, compared to $183.5 million in the second quarter of 2021. Net investment income increased 42.3 percent to $50.8 million in the second quarter of 2022, compared to $35.7 million in the second quarter of 2021. Sales increased 8.2 percent to $35.8 million in the second quarter of 2022, compared to $33.1 million in the second quarter of 2021. For the second quarter of 2022, Unum International results were unfavorably impacted by fluctuations in the British pound sterling to U.S. dollar exchange rate relative to the second quarter of 2021.
The Unum UK line of business reported adjusted operating income, in local currency, of £19.3 million in the second quarter of 2022, an increase of 14.9 percent from £16.8 million in the second quarter of 2021. Premium income was £125.0 million in the second quarter of 2022, an increase of 8.6 percent from £115.1 million in the second quarter of 2021, due to in-force block growth. Net investment income was £39.2 million in the second quarter of 2022, an increase of 61.3 percent from £24.3 million in the second quarter of 2021, due primarily to higher investment income from inflation index-linked bonds. The benefit ratio in the second quarter of 2022 was 89.7 percent, compared to 82.5 percent in the second quarter of 2021, due to higher inflation-linked experience in benefits, lower claim terminations in the group long-term disability product line, and higher claim incidence in our group critical illness product line. Sales increased 20.3 percent to £25.5 million in the second quarter of 2022, compared to £21.2 million in the second quarter of 2021. Persistency in the group long-term disability product line was 87.4 percent for the first half of 2022, compared to 89.4 percent for the first half of 2021. Persistency in the group life product line was 88.1 percent for the first half of 2022, compared to 84.3 percent for the first half of 2021. Persistency in the supplemental product line was 91.5 percent for the first half of 2022, compared to 89.2 percent for the first half of 2021.
Colonial Life Segment
Colonial Life reported a 5.5 percent increase in adjusted operating income to $101.1 million in the second quarter of 2022, compared to $95.8 million in the second quarter of 2021. Premium income increased 1.9 percent to $427.6 million in the second quarter of 2022, compared to $419.7 million in the second quarter of 2021, due to higher sales in prior periods and higher overall persistency. Net investment income decreased 7.0 percent to $38.7 million in the second quarter of 2022, compared to the $41.6 million in the second quarter of 2021, due to lower miscellaneous investment income and a decline in the yield on invested assets, partially offset by an increase in the level of invested assets. The benefit ratio was 47.6 percent in the second quarter of 2022, compared to 51.7 percent in the second quarter of 2021, due primarily to favorable claim experience across all products.
Sales increased 6.4 percent to $118.2 million in the second quarter of 2022, compared to $111.1 million in the second quarter of 2021. Persistency in Colonial Life was 78.6 percent for the first half of 2022, compared to 78.3 percent for the first half of 2021.
Closed Block Segment
The Closed Block segment reported adjusted operating income of $79.3 million in the second quarter of 2022, compared to $111.2 million in the second quarter of 2021. Excluded from adjusted operating income for the second quarter of 2022 and 2021 is the amortization of the cost of reinsurance related to the Closed Block individual disability reinsurance transaction of $16.6 million and $19.7 million, respectively. Premium income for this segment decreased 4.5 percent to $238.0 million in the second quarter of 2022, compared to $249.1 million in the second quarter of 2021, due to policy terminations and maturities, partially offset by rate increases. Net investment income decreased 1.1 percent to $291.5 million in the second quarter of 2022, compared to $294.7 million in the second quarter of 2021, due to a decline in the yield on invested assets and lower miscellaneous investment income, partially offset by an increase in the level of invested assets.
The interest adjusted loss ratio for the long-term care line of business was 85.9 percent in the second quarter of 2022, compared to an interest adjusted loss ratio of 74.6 percent in the second quarter of 2021, driven by lower claim terminations. The interest adjusted loss ratio for long-term care for the rolling twelve months ended June 30, 2022, excluding the reserve increase of $2.1 million related to the assumption updates in the third quarter of 2021, was 78.3 percent which is below our long-term expected range. The interest adjusted loss ratio for the individual disability line of business was 79.5 percent in the second quarter of 2022, compared to 69.6 percent in the second quarter of 2021, due primarily to volatility as a result of the relatively small amount of business retained.
Corporate Segment
The Corporate segment reported an adjusted operating loss of $36.9 million in the second quarter of 2022, compared to an adjusted operating loss of $48.5 million in the second quarter of 2021, which excludes the before-tax cost related to the early retirement of debt of $67.3 million and the before-tax impairment loss on the ROU asset of $13.9 million.
OTHER INFORMATION
Shares Outstanding
The Company's weighted average number of shares outstanding, assuming dilution, was 202.4 million for the second quarter of 2022, compared to 205.3 million for the second quarter of 2021. Shares outstanding totaled 200.2 million at June 30, 2022. During the second quarter of 2022, the final settlement of the accelerated share repurchase agreement executed in the first quarter of 2022 was completed with the delivery to us of approximately 0.4 million shares at a cost of $12.5 million. In addition, the Company repurchased approximately 1.4 million shares in open market transactions at a cost of approximately $44.9 million. For the first half of 2022, the Company has repurchased approximately 3.1 million shares at a cost of $94.9 million.
Capital Management
At June 30, 2022, the weighted average risk-based capital ratio for the Company's traditional U.S. insurance companies was approximately 415 percent, and the holding companies had available holding company liquidity of $1,177.0 million.
Book Value
Book value per common share as of June 30, 2022 was $48.47, compared to $53.57 at June 30, 2021. Book value per common share excluding AOCI as of June 30, 2022 was $57.32, compared to $52.49 at June 30, 2021.
Outlook
The Company expects positive operating trends in our core business during 2022, with solid premium growth and improving claim experience as impacts from COVID-19 lessen. The Company also anticipates an increase in after-tax adjusted operating income per share of 40 percent to 45 percent relative to full-year 2021, compared to its previous outlook of an increase of 15 percent to 20 percent. The increased expectation reflects the Company's strong first half performance and an improved outlook for the balance of 2022.
NON-GAAP FINANCIAL MEASURES
We analyze our performance using non-GAAP financial measures. A non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP financial measure of "after-tax adjusted operating income" differs from net income as presented in our consolidated operating results and income statements prepared in accordance with GAAP due to the exclusion of investment gains or losses and the amortization of the cost of reinsurance as well as certain other items as specified in the reconciliations in the Financial Highlights section below. Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. We believe after-tax adjusted operating income is a better performance measure and better indicator of the profitability and underlying trends in our business.
Investment gains or losses depend on market conditions and do not necessarily relate to decisions regarding the underlying business of our segments. Our investment focus is on investment income to support our insurance liabilities as opposed to the generation of investment gains or losses. Although we may experience investment gains or losses which will affect future earnings levels, a long-term focus is necessary to maintain profitability over the life of the business since our underlying business is long-term in nature, and we need to earn the interest rates assumed in calculating our liabilities.
We have exited a substantial portion of our Closed Block individual disability product line through the two phases of the reinsurance transaction that were executed in December 2020 and March 2021, respectively. As a result, we exclude the amortization of the cost of reinsurance that was recognized upon the exit of the business related to the ceded reserves for the cohort of policies on claim status. We believe that the exclusion of the amortization of the cost of reinsurance provides a better view of our results from our ongoing businesses.
We may at other times exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace net income or net loss as a measure of our overall profitability.
CONFERENCE CALL INFORMATION
Members of Unum Group senior management will host a conference call on Wednesday, August 3, at 8:00 a.m. (Eastern Time) to discuss the results of operations for the second quarter. Topics may include forward-looking information, such as the Company's outlook on future results, trends in operations, and other material information.
The dial-in number for the conference call is 1-844-200-6205 for callers in the U.S. (access code 573667). For callers in Canada the dial-in is 1-833-950-0062 (access code 573667). For all other callers, the dial-in number is 1-929-526-1599 (access code 573667). A live webcast of the call will also be available at www.investors.unum.com in a listen-only mode. It is recommended that webcast viewers access the Investors section of the Company's website and opt-in to the webcast approximately 10 minutes prior to the start of the call. A replay of the webcast will be available on the Company's website, and will be available through Wednesday, August 10 by dialing 1-866-813-9403 (U.S.), 1-226-828-7578 (Canada), 0204-525-0658 (U.K. local), or +44-204-525-0658 (All Other Locations) - access code 951720.
In conjunction with today's earnings announcement, the Company's Statistical Supplement for the second quarter of 2022 is available on the Investors section of the Company's website.
ABOUT UNUM GROUP
Unum Group (www.unum.com) an international provider of workplace benefits and services, has been helping workers and their families for more than 170 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, vision and stop-loss insurance; leave and absence management support and behavioral health services. In 2021, Unum reported revenues of $12.0 billion and paid $8.2 billion in benefits. The Fortune 250 company is one of the 2022 World's Most Ethical Companies, recognized by Ethisphere®.
For more information, connect with us on Facebook (www.facebook.com/unumbenefits), Twitter (www.twitter.com/unumnews) and LinkedIn (www.linkedin.com/company/unum).
SAFE HARBOR STATEMENT
Certain information in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those not based on historical information, but rather relate to our outlook, future operations, strategies, financial results, or other developments and speak only as of the date made. These forward-looking statements, including statements about anticipated growth in after-tax adjusted operating income per share, are subject to numerous assumptions, risks, and uncertainties, many of which are beyond our control. The following factors, in addition to other factors mentioned from time to time, may cause actual results to differ materially from those contemplated by the forward-looking statements: (1) the impact of COVID-19 on our business, financial position, results of operations, liquidity and capital resources, and overall business operations; (2) sustained periods of low interest rates; (3) fluctuation in insurance reserve liabilities and claim payments due to changes in claim incidence, recovery rates, mortality and morbidity rates, and policy benefit offsets due to, among other factors, the rate of unemployment and consumer confidence, the emergence of new diseases, epidemics, or pandemics, new trends and developments in medical treatments, the effectiveness of our claims operational processes, and changes in governmental programs; (4) unfavorable economic or business conditions, both domestic and foreign, that may result in decreases in sales, premiums, or persistency, as well as unfavorable claims activity; (5) changes in, or interpretations or enforcement of laws and regulations; (6) our ability to hire and retain qualified employees; (7) a cyber attack or other security breach could result in the unauthorized acquisition of confidential data; (8) the failure of our business recovery and incident management processes to resume our business operations in the event of a natural catastrophe, cyber attack, or other event; (9) investment results, including, but not limited to, changes in interest rates, defaults, changes in credit spreads, impairments, and the lack of appropriate investments in the market which can be acquired to match our liabilities; (10) increased competition from other insurers and financial services companies due to industry consolidation, new entrants to our markets, or other factors; (11) changes in our financial strength and credit ratings; (12) our ability to develop digital capabilities or execute on our technology systems upgrades or replacements; (13) actual experience in the broad array of our products that deviates from our assumptions used in pricing, underwriting, and reserving; (14) availability of reinsurance in the market and the ability of our reinsurers to meet their obligations to us; (15) ability to generate sufficient internal liquidity and/or obtain external financing; (16) damage to our reputation due to, among other factors, regulatory investigations, legal proceedings, external events, and/or inadequate or failed internal controls and procedures; (17) recoverability and/or realization of the carrying value of our intangible assets, long-lived assets, and deferred tax assets; (18) effectiveness of our risk management program; (19) contingencies and the level and results of litigation; (20) ineffectiveness of our derivatives hedging programs due to changes in the economic environment, counterparty risk, ratings downgrades, capital market volatility, changes in interest rates, and/or regulation; (21) fluctuation in foreign currency exchange rates; and (22) our ability to meet environment, social, and governance standards and expectations of investors, regulators, customers, and other stakeholders.
For further discussion of risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Part 1, Item 1A "Risk Factors" of our annual report on Form 10-K for the year ended December 31, 2021. The forward-looking statements in this news release are being made as of the date of this news release, and we expressly disclaim any obligation to update or revise any forward-looking statement contained herein, even if made available on our website or otherwise.
SOURCE Unum Group | https://www.prnewswire.com/news-releases/unum-group-reports-second-quarter-2022-results-301598346.html | 2022-08-02T21:50:26 | en | 0.946824 |
REDWOOD CITY, Calif. (AP) _ Electronic Arts Inc. (EA) on Tuesday reported fiscal first-quarter net income of $311 million.
The Redwood City, California-based company said it had profit of $1.11 per share. Earnings, adjusted for one-time gains and costs, were 32 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The video game maker posted revenue of $1.77 billion in the period. Its adjusted revenue was $1.3 billion, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $1.25 billion.
For the current quarter ending in October, Electronic Arts expects its per-share earnings to range from 78 cents to 86 cents.
The company said it expects revenue in the range of $1.85 billion to $1.9 billion for the fiscal second quarter.
Electronic Arts expects full-year earnings in the range of $2.79 to $2.87 per share, with revenue ranging from $7.6 billion to $7.8 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EA at https://www.zacks.com/ap/EA | https://www.lakecountystar.com/business/article/Electronic-Arts-Fiscal-Q1-Earnings-Snapshot-17346292.php | 2022-08-02T21:50:26 | en | 0.949024 |
SAN FRANCISCO (AP) — Elon Musk’s wealthy high tech allies don’t seem too happy about receiving subpoenas from Twitter as part of the company’s legal battle with the Tesla CEO.
San Francisco-based Twitter is suing Musk in Delaware in an attempt to get him to complete his $44 billion acquisition of the social media company, a deal Musk is trying to get out of. According to a report from The Washington Post, Twitter’s legal team on Monday asked for information about a host of tech investors and entrepreneurs connected to Musk in a wide-ranging subpoena. Twitter declined to comment.
According to the Post, the subpoena includes “extensive requests for communications, including 'checklists, timelines, presentations, decks, organizational calls, meetings, notes, recordings' related to the deal’s financing.'"
Well-known venture capitalists included in the subpoena, according to the report, are Marc Andreessen, founder of VC firm Andreessen Horowitz; former Facebook exec and CEO of Social Capital Chamath Palihapitiya; and David Sacks, the founding chief operating officer of PayPal and current general partner at Craft Ventures.
Sacks posted Monday on Twitter that “news that I am being subpoenaed by Twitter’s lawyers reminded me of this issue of Mad Magazine, I don’t know why.” He included a photo of the magazine's cover showing a hand raising a middle finger.
Joe Lonsdale, general partner at 8VC, called Twitter's subpoenas sent to “friends in the ecosystem” surrounding Musk, Andreessen and Sacks a “giant harassing fishing expedition.”
“I have nothing to do with this aside from a few snarky comments, but got a “YOU ARE HEREBY COMMANDED” document notice," he tweeted on Monday.
Representatives for Sacks, Andreessen and Palihapitiya did not immediately respond to messages for comment on Tuesday. Lonsdale did not immediately respond to a message sent through LinkedIn. | https://www.lakecountystar.com/business/article/Elon-Musk-s-tech-allies-miffed-about-Twitter-17346275.php | 2022-08-02T21:50:28 | en | 0.940448 |
You need to enable JavaScript to run this app. | https://sportspyder.com/nfl/minnesota-vikings/articles/40266583 | 2022-08-02T21:50:29 | en | 0.738227 |
BURKBURNETT (KFDX/KJTL) — A tip from a confidential informant leads to an investigation by the Wichita County District Attorney’s Office Drug Enforcement Division and U.S. Postal Inspector’s Office, and arrests of three Burkburnett residents.
The investigation began in March and on Friday, July 29, agents intercepted a package from California they say contained almost 900 grams of meth. On Monday, they had the package delivered to the house in the 700 block of Glendale in Burkburnett with a small amount of the meth. After it was picked up, a search warrant was served.
Jimmy Lee Mills, 67, is charged with manufacture and/or delivery of a controlled substance more than 400 grams and his bond is set at $150,000. Also arrested from the same residence, Kevin Lapointe and Amanda Huffman.
After receiving the tip that Mills was receiving meth in the mail, a Drug Enforcement Division officer contacted the postal inspector and the inspector provided information that since December of 2021, 9 packages from California had been delivered to that house, and that another package was in route on July 28 and was addressed to “Mike Mills.”
After a search warrant was obtained for the package and it was inspected, it was found to contain about 850 grams of suspected meth. A sample of that substance was placed back in the package and delivered.
When it was taken inside, the search warrant on the house was served, and agents went in and asked Mills where the package was.
They said Mills showed them where it was hidden. Agents said they found additional amounts of meth inside plastic baggies inside the house.
Lapointe and Huffman were arrested in the home with the help of a Texas Department of Public Safety Special Response Team.
Agents said Lapointe admitted to possession of some of the meth and supplying multiple individuals with meth, and Huffman also admitted ownership of the meth with her boyfriend, Lapointe.
Mills has more than 40 arrests since 1988, including several for parole violations.
This is the second arrest involving alleged meth shipments in the mail in Burkburnett this year.
In January Roy Oates was arrested by the D.A.’s Drug Enforcement Division Agents in that case said Oates had received “a mountain of meth” through the mail from California, in about 30 packages, some of it concealed inside candles. Agents arrested him while he was picking up a package at the post office.
The local charge was dismissed with reason given the case was not being handled by this department, and he was released in March, then booked back into jail on July 13 on a federal hold from Johnson County with no bond. | https://www.ktsm.com/news/three-arrested-in-burkburnett-meth-by-mail-case/ | 2022-08-02T21:50:30 | en | 0.986274 |
ATLANTA (AP) _ Cardlytics, Inc. (CDLX) on Tuesday reported a loss of $126.3 million in its second quarter.
On a per-share basis, the Atlanta-based company said it had a loss of $3.75. Losses, adjusted for asset impairment costs and stock option expense, came to 65 cents per share.
The company posted revenue of $75.4 million in the period.
Cardlytics shares have fallen 77% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.07, a drop of 88% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDLX at https://www.zacks.com/ap/CDLX | https://www.myjournalcourier.com/business/article/Cardlytics-Q2-Earnings-Snapshot-17346303.php | 2022-08-02T21:50:30 | en | 0.948946 |
DELRAY BEACH, Fla., Aug. 2, 2022 /PRNewswire/ -- UpHealth, Inc. (NYSE: UPH) ("UpHealth" or the "Company") today announced that the stockholder litigation that resulted in a delay of the Company's 2022 Annual Meeting of Stockholders (the "Annual Meeting") has been withdrawn by the plaintiffs, with the consent of the Company and director defendants (the "Independent Directors"). The litigation was initiated as part of an effort by Dr. Chirinjeev Kathuria and Dr. Mariya Pylypiv, two members of the Board of Directors, and Jeffery Bray, an UpHealth creditor and employee of the Company (the "Conflicted Group"), to exert undue control over the Company.
As a result of the termination of the litigation, the Company will hold its Annual Meeting as soon as practicable, and will nominate three candidates, including the Company's newly appointed Chief Executive Officer, Sam Meckey, and two new independent individuals to be selected and nominated by the full Board of Directors.
"We are pleased that the Conflicted Group has dropped its costly and distracting lawsuit.
"From the outset, it was clear to us that this litigation was a self-serving attempt by the Conflicted Group to wield outsized influence over the governance and strategic direction of the Company. By all standards of the proper role and conduct of any board of directors, their actions were unacceptable.
"We have and will continue to work diligently to protect the interests of all stockholders against any insurgent attempts by the Conflicted Group to move UpHealth in a direction that would benefit the Conflicted Group at the expense of all of UpHealth's stockholders.
"With the lawsuit behind us, the Company can now dedicate all its focus and resources on operating effectively and creating value for stockholders. Further to this goal, the Board voted to remove Dr. Kathuria from his role as Co-Chairman. The Independent Directors will remain vigilant in protecting the interests of our public stockholders and will not hesitate to take further action to stand against interference from parties not aligned with their interests.
"We are also pleased that our stockholders will soon be able to express their opinions at our Annual Meeting. The Independent Directors believe this stockholder right is a particularly important one and we have been disappointed with the actions of the Conflicted Group that have delayed this year's Annual Meeting. With the Conflicted Group having now dropped its litigation, we intend to move forward expeditiously with our Annual Meeting.
"After the Annual Meeting, with two new independent directors and a new CEO, UpHealth will be positioned to create value for all of our stockholders with a newly refreshed and independent Board, a talented executive team and a renewed dedication to operational excellence.
"We appreciate all the support of our public stockholders during the past few months and are pleased that this episode has concluded in a manner that benefits all of our stockholders and in a way that allows UpHealth to progress without the interference of any self-interested group."
Additional information about the Company's Annual Meeting will be provided to UpHealth stockholders in due course.
UpHealth is a global digital health company that delivers digital-first technology, infrastructure, and services to dramatically improve how healthcare is delivered and managed. UpHealth's solutions holistically enable clients to deliver on their affordability, access, quality, outcomes, and patient experience goals. UpHealth's technology platform helps its clients improve access, coordinate care teams, and achieve better patient outcomes at lower cost, with care management solutions, analytics, and telehealth tools that serve patients wherever they are, in their native language. Additionally, UpHealth's technology-enabled virtual care infrastructure and services improves access to quality primary and acute care, behavioral health, and pharmacy services. UpHealth's clients include health plans, global governments, healthcare providers and community-based organizations.
For more information, please visit https://uphealthinc.com and follow us at @UpHealthInc on Twitter and UpHealth Inc on LinkedIn.
In connection with the Annual Meeting and the matters noticed for the Annual Meeting in the definitive proxy statement on Schedule 14A filed with the SEC on May 31, 2022 (the "Proxy Statement"), the Company has filed with the SEC and mailed the Proxy Statement to its stockholders, and will supplement or amend the Proxy Statement following the recommendation by the Board of Directors of two independent directors to serve as Class I directors, and further anticipates that it will mail any supplement or amendment to its stockholders. This press release does not contain all the information that should be considered in respect of the matters noticed for the Annual Meeting in the Proxy Statement, and the Company anticipates that additional information will be set forth in any supplement or amendment to the Proxy Statement, which stockholders and other interested persons are advised to read, when available. The Company anticipates that when available, any supplement or amendment to the Proxy Statement will be mailed to stockholders of the Company as of a new record date established for voting at the Annual Meeting.
Stockholders may also obtain a copy of the Proxy Statement, as well as other documents filed by the Company with the SEC, including any supplement or amendment to the Proxy Statement, without charge, at the SEC's website located at www.sec.gov.
The Company and its respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from the Company's stockholders in respect of the matters noticed for the Annual Meeting in the Company's Proxy Statement, as such Proxy Statement may be supplemented or amended. Information regarding the Company's directors and executive officers is available in the Proxy Statement.
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the matters noticed for the Annual Meeting in the Proxy Statement.
This communication contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, the recommendation by the Board of Directors of two independent directors to Class I of the Board of Directors and the Annual Meeting and other future actions by the Board of Directors. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this communication are based on certain assumptions and analyses made by the management of UpHealth in light of their respective experience and perception of historical trends, current conditions, and expected future developments and their potential effects on UpHealth as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting UpHealth will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including the time frame for identifying independent directors. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
SOURCE UpHealth, Inc. | https://www.prnewswire.com/news-releases/uphealths-independent-directors-welcome-the-termination-of-litigation-that-had-delayed-the-annual-stockholder-meeting-301598358.html | 2022-08-02T21:50:32 | en | 0.961417 |
MADISON, Wis. (AP) _ Exact Sciences Corp. (EXAS) on Tuesday reported a loss of $166.1 million in its second quarter.
The Madison, Wisconsin-based company said it had a loss of 94 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.07 per share.
The molecular diagnostics company posted revenue of $521.6 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $496.8 million.
Exact Sciences expects full-year revenue in the range of $1.98 billion to $2.02 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXAS at https://www.zacks.com/ap/EXAS | https://www.lakecountystar.com/business/article/Exact-Sciences-Q2-Earnings-Snapshot-17346463.php | 2022-08-02T21:50:34 | en | 0.940935 |
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WASHINGTON (Nexstar) — Speaker of the House Nancy Pelosi is in Taiwan, a visit that’s angering China and could further strain U.S. relations with China.
The issue is that China sees Taiwan as its territory while Taiwan considers itself independent, and China perceives Pelosi’s trip as a provocation.
“Let me be clear the speaker’s visit is totally consistent with our long-standing One China Policy,” John Kirby with the National Security Council said.
In a Washington Post opinion piece, Pelosi said the delegation she leads is “an unequivocal statement that America stands with Taiwan” in the face of what she calls “accelerating aggression” from China.
Republicans are unusually supportive of her.
“I’m about to use four words in a row that I haven’t used in this way before. And those four words are Speaker Pelosi was right,” Rep. Roy Blunt (R-Mo.) said.
“I don’t think the Chinese get to tell members of Congress where they can go,” Senate Minority leader Mitch McConnell added.
In response, China says it will conduct military exercises with live ammunition in areas surrounding Taiwan.
“There’s no reason for Beijing to turn this visit, which is consistent with long-standing policy, into some sort of crisis,” Kirby said.
Chinese officials say the U.S. and Taiwan are working together to provoke China and playing with fire.
The U.S. is also positioning warships near Taiwan. | https://www.ktsm.com/news/washington-dc/pelosi-visits-taiwan-defying-warnings-from-china/ | 2022-08-02T21:50:36 | en | 0.958681 |
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday:
Caterpillar Inc., down $11.35 to $183.51.
The construction equipment maker's second-quarter revenue fell short of Wall Street forecasts.
Uber Technologies Inc., up $4.65 to $29.25.
The ride-hailing company reported surprisingly strong second-quarter revenue.
BP PLC, up 31 cents to $29.36.
The oil and gas company reported strong second-quarter financial results.
Cowen Inc., up $2.97 to $38.46.
TD Bank Group is buying the financial services company for about $1.3 billion.
JetBlue Airways Corp., down 55 cents to $8.04.
The airline reported a far bigger second-quarter loss than Wall Street expected.
SunPower Corp., up $1.87 to $21.70.
The solar products and services company beat Wall Street's second-quarter earnings and revenue forecasts.
ZoomInfo Technologies Inc., up $4.24 to $41.97.
The software company raised its profit and revenue forecasts for the year.
Varonis Systems Inc., up $2.45 to $27.84.
The data-management software company reported solid second-quarter earnings and revenue. | https://www.myjournalcourier.com/business/article/Caterpillar-JetBlue-fall-Uber-SunPower-rise-17346283.php | 2022-08-02T21:50:37 | en | 0.902766 |
NEW YORK, Aug. 2, 2022 /PRNewswire/ -- Technavio has been monitoring the Academic E-Learning Market, operating under the consumer discretionary market. The report estimates the market to register an incremental growth of USD 72.41 billion, at a CAGR of 10.29% during the forecast period.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request the latest sample report
Ambow Education Holding Ltd., D2L Corp., Instructure Inc., MPS Ltd., New Oriental Education and Technology Group Inc., NIIT Ltd., Pearson Plc, Providence Equity Partners LLC, TAL Education Group, and Think & Learn Pvt. Ltd. are among some of the major market participants.
The introduction of new online degrees is a significant factor in the expansion of the global academic e-learning sector. Because online courses are becoming more and more popular, academic institutions all around the world are starting to offer online degrees. Since 2015, numerous online degree programs have been introduced by universities in the US, Canada, and Australia. During the projected period, there will be an increase in online degree enrollments due to the introduction of new online undergraduate and graduate degrees.
The main issue preventing the market's growth is the high development cost connected with e-learning courses. Depending on the instructional design methodology selected, academic e-learning course development and design costs will vary. The roles of a subject matter expert (SME), instructional design team, project management team, and technical staff specialists are all involved in the development process. As a result, the focus market's expansion over the projection period is likely to be slowed down by the high development costs connected with academic e-learning courses. Buy Sample Report.
The growing competition in the global e-learning market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Ambow Education Holding Ltd.
- D2L Corp.
- Instructure Inc.
- MPS Ltd.
- New Oriental Education and Technology Group Inc.
- NIIT Ltd.
- Pearson Plc
- Providence Equity Partners LLC
- TAL Education Group
- Think & Learn Pvt. Ltd.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Sample Report.
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Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- COVID-19 impact on consumer discretionary services
- Value chain analysis
Market Sizing
- Market Definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- The threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by the End-user
- Higher education - Market size and forecast 2020-2025
- K-12 - Market size and forecast 2020-2025
- COVID-19 pandemic impact on end-user segment
- Market opportunity by the End user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- COVID-19 pandemic impact on the global market
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor Landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Ambow Education Holding Ltd.
- D2L Corp.
- Instructure Inc.
- MPS Ltd.
- New Oriental Education and Technology Group Inc.
- NIIT Ltd.
- Pearson Plc
- Providence Equity Partners LLC
- TAL Education Group
- Think & Learn Pvt. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research Methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio | https://www.prnewswire.com/news-releases/usd-72-41-bn-growth-in-academic-e-learning-market-launch-of-new-online-degrees-to-boost-market-growth---technavio-301597206.html | 2022-08-02T21:50:38 | en | 0.890264 |
SALT LAKE CITY (AP) _ Extra Space Storage Inc. (EXR) on Tuesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Salt Lake City, said it had funds from operations of $305.1 million, or $2.13 per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $2.04 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $232.1 million, or $1.73 per share.
The self-storage facility real estate investment trust posted revenue of $475 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $463.5 million.
Extra Space Storage expects full-year funds from operations in the range of $8.30 to $8.50 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXR at https://www.zacks.com/ap/EXR | https://www.lakecountystar.com/business/article/Extra-Space-Storage-Q2-Earnings-Snapshot-17346379.php | 2022-08-02T21:50:40 | en | 0.958563 |
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(NEXSTAR) – As other social media networks make changes to their algorithms to compete with TikTok or combat misinformation, a completely new app is quickly gaining users. I became one of those new users when I downloaded the app last week.
BeReal calls itself “the simplest photo sharing app.” The French-developed social media platform promises to ward off influencer content and embrace authenticity. The app doesn’t have any appearance-enhancing filters, and its developer warns it “won’t make you famous.”
“If you want to become an influencer you can stay on TikTok and Instagram,” the description reads.
BeReal ranked No. 1 on Apple’s App Store for free apps Tuesday morning – ahead of TikTok, YouTube, Instagram and Facebook.
Here’s how it works: Once a day, you get a notification prompting you to open the app. Then, you have exactly two minutes to snap a photo. The app simultaneously captures pictures from your phone’s front and back cameras, and creates a split image showing both views.
Once the timer is up, you can see your friend’s daily posts and comment on them – but only if you have uploaded a picture yourself.
If you miss the notification and the two-minute window, you can still post late, but your photo will bear a clear timestamp showing you did so.
The result? The BeReal website shows people snowboarding down mountains, camping in forests and eating towering cones of soft-serve ice cream. But my personal feed, filled with only a few of my friends who have downloaded the app, is consistently filled with pictures of us working at our desks – given that the app alerts you one time during the day, and we all work day jobs.
You can also scroll the app’s “Discovery” tab, which when I opened it Tuesday morning showed me someone boating off Cape Cod, a guy drinking coffee in Tijuana and a woman waiting to go through security at an Italian airport. All those are more varied and visually appealing than my friends’ mix of content (no offense to my friends), but the app also shows all the photos are posted late. They may have waited to post the picture until they were doing something more interesting than typing away at work or sitting on the toilet. But not my friends – they’re keeping it real (for better or worse). | https://www.ktsm.com/news/what-is-bereal-new-anti-influencer-social-media-app-gains-popularity/ | 2022-08-02T21:50:42 | en | 0.950975 |
OKLAHOMA CITY (AP) _ Chesapeake Energy Corp. (CHK) on Tuesday reported second-quarter net income of $1.24 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Oklahoma City-based company said it had net income of $8.27. Earnings, adjusted for non-recurring gains, were $4.87 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.74 per share.
The oil and gas company posted revenue of $3.52 billion in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHK at https://www.zacks.com/ap/CHK | https://www.myjournalcourier.com/business/article/Chesapeake-Energy-Q2-Earnings-Snapshot-17346378.php | 2022-08-02T21:50:43 | en | 0.937062 |
VolitionRx Limited Announces Closing of $6.9 Million Underwritten Public Offering of Common Stock
HENDERSON, Nev., Aug. 2, 2022 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition"), a multi-national epigenetics company, announced today the closing of its previously announced underwritten public offering of 3,450,000 shares of its common stock, including the exercise in full of the underwriter's overallotment option, at a public offering price of $2.00 per share. The gross proceeds to Volition from the offering were $6.9 million, before deducting the underwriting commissions and other estimated offering expenses payable by Volition. All of the shares of common stock sold in the offering were offered by Volition.
Volition intends to use the net proceeds from the offering for research and continued product development, clinical studies, product commercialization, working capital and other general corporate purposes, including potential strategic acquisitions.
Newbridge Securities Corporation acted as the sole book-running manager of the offering.
The securities were issued by Volition pursuant to a "shelf" registration statement on Form S-3 (File No. 333-259783) previously filed with the Securities and Exchange Commission (the "SEC") on September 24, 2021 and declared effective by the SEC on November 8, 2021. A final prospectus supplement and an accompanying base prospectus relating to the offering were filed with the SEC on August 1, 2022 and are available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying base prospectus relating to the offering can also be obtained from Newbridge Securities Corporation, Attn: Equity Syndicate Department, 1200 North Federal Highway, Suite 400, Boca Raton, FL 33432, by email at [email protected], or by telephone at (877) 447-9625.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Volition
Volition is a multi-national epigenetics company that applies its Nucleosomics™ platform through its subsidiaries to develop simple, easy-to-use, cost-effective blood tests to help diagnose and monitor a range of life-altering diseases, including some cancers and diseases associated with NETosis such as sepsis and COVID-19. Early diagnosis and monitoring have the potential to not only prolong the life of patients but also improve their quality of life. The tests are based on the science of Nucleosomics™, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid—an indication that disease is present. Volition is primarily focused on human diagnostics and monitoring, but also has a subsidiary focused on animal diagnostics and monitoring.
Volition's research and development activities are centered in Belgium, with an innovation laboratory and an office in the U.S. and additional offices in London and Singapore.
Media
Louise Batchelor/Debra Daglish, Volition
[email protected]
+44 (0)7557 774620
Investors
Scott Powell, Volition
[email protected]
+1 (646) 650 1351
Joseph Green, Edison Advisors
[email protected]
+1 (646) 653 7030
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. These forward-looking statements reflect the current beliefs and expectations of management and include statements regarding the public offering, including the expected use of proceeds from the offering. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Although Volition believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are subject to risks and uncertainties that may cause Volition's actual activities or results to differ materially from those indicated or implied by any forward-looking statement, including, without limitation, due to risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the proposed public offering, risks disclosed in the section titled "Risk Factors" included in the final prospectus supplement filed with the SEC on August 1, 2022, and risks disclosed in other documents Volition files from time to time with the SEC, including Volition's Quarterly Reports on Form 10-Q and its Annual Report on Form 10-K. Forward-looking statements are made as of the date of this release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Nucleosomics™ and Nu.Q® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries.
SOURCE VolitionRx Limited | https://www.prnewswire.com/news-releases/volitionrx-limited-announces-closing-of-6-9-million-underwritten-public-offering-of-common-stock-301598269.html | 2022-08-02T21:50:44 | en | 0.947458 |
PHILADELPHIA (AP) _ FMC Corp. (FMC) on Tuesday reported second-quarter earnings of $134.2 million.
The Philadelphia-based company said it had net income of $1.06 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.93 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The chemical producer posted revenue of $1.45 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.35 billion.
For the current quarter ending in October, FMC expects its per-share earnings to range from $1 to $1.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.55.
The company said it expects revenue in the range of $1.31 billion to $1.39 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.26 billion.
FMC expects full-year earnings in the range of $7 to $7.70 per share, with revenue ranging from $5.5 billion to $5.7 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMC at https://www.zacks.com/ap/FMC | https://www.lakecountystar.com/business/article/FMC-Q2-Earnings-Snapshot-17346412.php | 2022-08-02T21:50:46 | en | 0.958219 |
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JACKSONVILLE, Fla. (AP) _ Fidelity National Financial Inc. (FNF) on Tuesday reported second-quarter profit of $382 million.
On a per-share basis, the Jacksonville, Florida-based company said it had profit of $1.37. Earnings, adjusted for non-recurring costs, came to $1.90 per share.
The provider of title insurance and mortgage services posted revenue of $2.63 billion in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FNF at https://www.zacks.com/ap/FNF | https://www.lakecountystar.com/business/article/FNF-Group-Q2-Earnings-Snapshot-17346551.php | 2022-08-02T21:50:48 | en | 0.921571 |
A child safety seat anchor in new versions of the Toyota Tacoma mid-size pickup truck may not be safe at all, according to a recall order disclosed by the NHTSA on Tuesday.
Welds on the upper child seat anchors can be loose enough to be moved by hand, prompting Toyota to recall 75,316 Tacomas from the 2022-2023 model years. Toyota estimates that only 5% of the recalled vehicles have insufficient spot welds that can compromise the LATCH child seat safety anchors.
The issue specifically affects the upper tether anchor used to secure forward-facing child safety seats. The welds don’t have enough strength to meet federal vehicle safety standards, and may result in the child seat moving during a crash, increasing the risk of injury.
The trucks at issue were manufactured from Oct. 21, 2021 through May 28, 2022, after a manufacturing change to prevent burrs on the anchors.
Toyota is still developing a remedy for the issue, and owners can expect notification by mail as early as Sept. 2. The trucks are still under warranty so the fix will be completed for free at Toyota service centers. For more information, owners can contact Toyota’s customer service at 1-800-331-4331 or visit Toyota’s recall site.
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- 2023 Toyota BZ4X vs 2022 Kia EV6: Compare Electric Cars | https://cw39.com/automotive/internet-brands/2022-2023-toyota-tacoma-recalled-for-child-seat-anchor-weakness/ | 2022-08-02T21:50:48 | en | 0.918379 |
AUSTIN, Texas (AP) _ Cirrus Logic Inc. (CRUS) on Tuesday reported fiscal first-quarter net income of $39.7 million.
On a per-share basis, the Austin, Texas-based company said it had profit of 69 cents. Earnings, adjusted for one-time gains and costs, came to $1.12 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The chipmaker posted revenue of $393.6 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $370.2 million.
For the current quarter ending in October, Cirrus Logic said it expects revenue in the range of $450 million to $490 million. Analysts surveyed by Zacks had expected revenue of $489 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRUS at https://www.zacks.com/ap/CRUS | https://www.myjournalcourier.com/business/article/Cirrus-Logic-Fiscal-Q1-Earnings-Snapshot-17346268.php | 2022-08-02T21:50:49 | en | 0.949702 |
YMTC Introduces X3-9070 3D NAND Flash Powered by Innovative Xtacking® 3.0 Architecture
SANTA CLARA, Calif., Aug. 2, 2022 /PRNewswire/ -- YMTC today at the Flash Memory Summit (FMS) 2022 unveiled its X3-9070 TLC 3D NAND flash powered by Xtacking® 3.0 architecture. Since its debut show at FMS 2018, YMTC's Xtacking® technology has become a hallmark of the company's vision for innovation, and the approach to hybrid bonding has been widely recognized as one of the key enablers of the industry's future growth. Built out to be a common growth platform that drives value and innovation in the semiconductor ecosystem, YMTC's Xtacking® 3.0 architecture opens up a world of opportunities for diversified applications in 5G, AloT, and beyond.
From 1.0 to 3.0, YMTC's Xtacking® technology, a heterogeneous 3D integration architecture, has established a proven track record of success, as evidenced by a diverse portfolio of Xtacking® NAND-based system solutions, including SATA III, PCIe Gen3 & Gen4 SSDs, as well as eMMC & UFS for mobile and embedded applications, garnering recognition from leading OEMs.
"The arrival of YMTC's patented Xtacking® 3.0 architecture is a breakthrough in the 3D NAND scaling race," said Gregory Wong, Founder and Principal Analyst at Forward Insights. "The advancement of 3D NAND technology is crucial for innovation in the memory market, and as the most advanced flash memory to feature this type of architecture, the YMTC Xtacking® 3.0 X3-9070 is a key industry milestone. In the future, hybrid bonding of memory cells and logic circuits is expected to become mainstream."
Featuring Xtacking® 3.0 as its powerful core, YMTC's 4th generation 3D NAND, the X3-9070, is a cutting-edge product that boasts a higher bit density, optimized performance, and increased endurance, quality, and reliability in line with stringent testing standards, such as JEDEC. Enhanced scalability is now also available at a greater cost efficiency, thanks to the specific recent process improvements.
Key features of the X3-9070 include:
- Performance: The X3-9070 achieves an I/O speed of up to 2400MT/s, ONFI 5.0 compliant, and has improved performance by 50% compared to the previous generation of products.
- Bit Density: Leveraging the innovative architecture of Xtacking® 3.0, the X3-9070 has become the highest bit density flash product in YMTC's history, enabling 1Tb storage capacity in an ultra-compact mono-die footprint.
- Upgraded system-level product experience: innovative 6-plane design with a synchronous multi-plane independent operation supported on each plane. Multiple and synchronized concurrency enhance system I/O performance on both sequential and random accesses. Compared to the typical 4-plane architecture, system performance can be boosted by up to 50% while power consumption can be reduced by 25%. This system-level upgrade allows for increased power efficiency and a more attractive total cost of ownership (TCO).
"Tested and adopted across global markets, our Xtacking® architecture is known to be the first of its kind and has been consistently empowering our clients and partners worldwide throughout its multiple generations," said Thomas Chen, Executive Vice President of YMTC. "Following the milestone release of the X3-9070, we will continue to leverage our Xtacking® technology in PCIe SSDs and UFS to ensure faster data access, shorter time to market, and lower costs per bit. Seeing how this promising platform has inspired more innovations from our partners in the flash ecosystem, we are confident that our commitment to accelerating the evolution of Xtacking® will help position us as a leading provider of memory solutions and a key value contributor to the global semiconductor industry."
YMTC's X3-9070 paves the way for the arrival of more of its 4th generation 3D NAND solutions based on Xtacking® 3.0, which will provide the company's growing customer base in data centers, enterprise-level servers, PCs, mobile devices, and more with even higher NAND throughput and system-level performance. As an industry innovator and a trusted partner and supplier, YMTC has been and will remain committed to its mission to work with global clients and partners to advance its signature Xtacking® technology and push the boundaries of 3D NAND.
SOURCE Yangtze Memory Technologies Co., Ltd. (YMTC) | https://www.prnewswire.com/news-releases/ymtc-introduces-x3-9070-3d-nand-flash-powered-by-innovative-xtacking-3-0-architecture-301597786.html | 2022-08-02T21:50:50 | en | 0.931261 |
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IRVINE, Calif. (AP) _ Five Point Holdings LLC (FPH) on Tuesday reported a loss of $5.1 million in its second quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of 7 cents.
The real estate developer posted revenue of $5.4 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FPH at https://www.zacks.com/ap/FPH | https://www.lakecountystar.com/business/article/Five-Point-Q2-Earnings-Snapshot-17346563.php | 2022-08-02T21:50:54 | en | 0.931335 |
SPOKANE, Wash. (AP) _ Clearwater Paper Corp. (CLW) on Tuesday reported second-quarter net income of $14.7 million, after reporting a loss in the same period a year earlier.
The Spokane, Washington-based company said it had net income of 86 cents per share. Earnings, adjusted for non-recurring costs, came to $1.11 per share.
The maker of pulp-based products posted revenue of $526.4 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLW at https://www.zacks.com/ap/CLW | https://www.myjournalcourier.com/business/article/Clearwater-Paper-Q2-Earnings-Snapshot-17346456.php | 2022-08-02T21:50:55 | en | 0.93447 |
BMW’s i4 electric hatchback enters the 2023 model year with a new eDrive35 grade that has brought the starting price down to $52,395, including a $995 destination charge.
The i4 was a new addition to BMW’s lineup for 2022, initially offering eDrive40 and M50 grades, priced from $56,395 and $66,895, respectively. Pricing of those grades for the 2023 model year has not yet been announced.
Being the i4’s new entry-level grade, the eDrive35 features a smaller battery and less power than the other versions. The battery has a gross capacity of 70.2 kwh and the car’s single electric motor at the rear delivers 281 hp and 295 lb-ft of torque.
The eDrive35 will still sprint to 60 mph from rest in a respectable 5.8 seconds, and BMW’s range estimate is 260 miles. The eDrive40 and M50 both feature an 83.9-kwh battery and deliver up to 301 miles and 270 miles, respectively, as rated by the EPA.
Using a DC fast charger at a charging rate of 180 kw, eDrive35 owners can expect to charge the battery from 10%-80% in a little over 30 minutes.
Despite being the base model, the eDrive35 comes with the same standard features as the eDrive40, including a 12.3-inch digital instrument cluster and a 14.9-inch touchscreen infotainment hub.
BMW i4 production is handled at a plant in Munich, Germany. U.S. deliveries of 2023 i4s are expected to start early next year.
BMW Group, which includes the BMW, Mini and Rolls-Royce brands, recorded worldwide sales of more than 57,000 electric vehicles in the first half of 2022. The automaker targets EVs to account for around 50% of its sales by 2030. Additional BMW Group EVs coming soon include an iX1, i5 and i7 from BMW, a redesigned Cooper SE and electric Countryman from Mini, and the Spectre coupe from Rolls-Royce.
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- MG teases Mazda MX-5 Miata rival | https://cw39.com/automotive/internet-brands/2023-bmw-i4-lowers-starting-price-to-52395-with-addition-of-edrive35-grade/ | 2022-08-02T21:50:55 | en | 0.917836 |
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GREENWICH, Conn. (AP) _ GXO Logistics Inc. (GXO) on Tuesday reported second-quarter earnings of $51 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had net income of 44 cents. Earnings, adjusted for one-time gains and costs, were 68 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The contract logistics provider posted revenue of $2.16 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.11 billion.
GXO Logistics expects full-year earnings in the range of $2.70 to $2.90 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GXO at https://www.zacks.com/ap/GXO | https://www.lakecountystar.com/business/article/GXO-Logistics-Q2-Earnings-Snapshot-17346469.php | 2022-08-02T21:51:00 | en | 0.948511 |
CHARLOTTE, N.C. (AP) _ Coca-Cola Bottling Co. (COKE) on Tuesday reported second-quarter earnings of $99.6 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $10.59. Earnings, adjusted for non-recurring costs, came to $11.94 per share.
The Coca-Cola bottler posted revenue of $1.6 billion in the period.
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Genesis in August will finally start deliveries of its redesigned 2023 G90 full-size sedan in the U.S., and the automaker on Tuesday provided pricing information.
The new G90, which represents the second generation of the flagship nameplate, is available in two grades, each with a unique powertrain.
The base G90 3.5T AWD is priced from $89,495 and the more powerful G90 3.5T E-SC AWD is priced from $99,795. Both figures include a $1,095 destination charge.
Genesis also lists a $575 surcharge for metallic and pearl exterior paint selections, and a $1,500 surcharge for matte paint selections.
The G90 3.5T AWD features a twin-turbocharged 3.5-liter V-6 rated at 375 hp and 391 lb-ft of torque. The G90 3.5T E-SC AWD features the same engine but with a 48-volt mild-hybrid system attached. The mild-hybrid setup includes an electric compressor designed to increase boost pressure at low revs, before the turbochargers take over. The powertrain in this case is rated at 409 hp and 405 lb-ft of torque. In both cases there’s an 8-speed automatic transmission and all-wheel drive.
Unlike rivals in this segment, the base G90 3.5T AWD comes with pretty much everything standard. The list includes a road-scanning adjustable suspension, a surround-view camera system, nappa leather, heated seats (with cooling up front), three-zone climate control, Bang & Olufsen audio, Apple CarPlay and Android Auto, wireless charging for mobile devices, a head-up display, and a host of electronic driver-assist features.
Upgrading to G90 3.5T E-SC AWD takes the standard features of the base model, plus the more potent powertrain, and adds a few extras. They include a multi-chamber air suspension, rear-wheel steering, powered rear seats with massaging and cooling, an extra wireless charging point, and Bang & Olufsen’s 3D Premium audio system with 26 speakers.
Genesis has also extended its Priority One program to the 2023 G90. Members of the program can secure a build slot with a $1,000 refundable deposit. The program also provides members with access to a dedicated concierge to help throughout the ordering process and delivery.
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- Alfa Romeo boss: We’re developing a large vehicle in US for launch in 2027 | https://cw39.com/automotive/internet-brands/2023-genesis-g90s-89495-starting-price-includes-long-list-of-standard-features/ | 2022-08-02T21:51:02 | en | 0.900667 |
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FOSTER CITY, Calif. (AP) _ Gilead Sciences Inc. (GILD) on Tuesday reported second-quarter earnings of $1.14 billion.
The Foster City, California-based company said it had profit of 91 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were $1.58 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The HIV and hepatitis C drugmaker posted revenue of $6.26 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $5.88 billion.
Gilead expects full-year earnings in the range of $6.35 to $6.75 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GILD at https://www.zacks.com/ap/GILD | https://www.lakecountystar.com/business/article/Gilead-Q2-Earnings-Snapshot-17346293.php | 2022-08-02T21:51:07 | en | 0.934166 |
DALLAS (AP) _ CompX International Inc. (CIX) on Tuesday reported second-quarter profit of $6.2 million.
On a per-share basis, the Dallas-based company said it had profit of 50 cents.
The security products maker posted revenue of $41.6 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIX at https://www.zacks.com/ap/CIX | https://www.myjournalcourier.com/business/article/CompX-Q2-Earnings-Snapshot-17346395.php | 2022-08-02T21:51:07 | en | 0.911188 |
PORT WASHINGTON, N.Y. (AP) _ Global Industrial Company (GIC) on Tuesday reported second-quarter earnings of $22.8 million.
The Port Washington, New York-based company said it had net income of 60 cents per share. Earnings, adjusted to account for discontinued operations, came to 59 cents per share.
The technology products marketer posted revenue of $318.5 million in the period.
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Infiniti’s Q50 has entered the 2023 model year largely unchanged from the previous year, although there’s been a small price rise from $43,125 to $43,725. Both figures include destination.
There’s added value too as all 2023 Infinitis come with the automaker’s Premium Care program, a maintenance program that covers some basics such as oil changes, brake fluid top ups, and cabin air filter replacements.
Buyers of the 2023 Q50 have three grades to choose from: Luxe, Sensory and Red Sport 400. Rear-wheel drive is standard across the range but all-wheel drive can be added on each grade for an additional $2,000.
The base Luxe grade comes well equipped with items like Apple CarPlay (wireless), Android Auto, leather trim, heated front seats and steering wheel, and Bose audio all included as standard. New for 2023 is the option of Saddle Brown for the interior color, which was previously limited to the Sensory grade.
All Q50s are powered by the same twin-turbocharged 3.0-liter V-6. It’s rated at 300 hp and 295 lb-ft of torque in the Luxe and Sensory grades, and 400 hp and 350 lb-ft in the Red Sport 400. All grades use a 7-speed automatic transmission.
The Red Sport 400, which is priced from $57,575, benefits from a few extra performance upgrades beyond the powertrain. Key among these are unique 19-inch alloy wheels, uprated brakes with four-piston front and two-piston rear calipers, and adjustable dampers.
The Q50 is one of the oldest new vehicles on the market, having arrived in 2013 as a 2014 model. Some rivals, like Mercedes-Benz’s C-Class, have been redesigned twice in that time, but despite this there’s no clear successor for the Q50 in sight.
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- Bentley builds one-off Continental GT Speed convertible to benefit cancer research
- Alfa Romeo boss: We’re developing a large vehicle in US for launch in 2027 | https://cw39.com/automotive/internet-brands/2023-infiniti-q50-soldiers-on-with-small-price-rise/ | 2022-08-02T21:51:08 | en | 0.930682 |
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MOBILE, Ala. (AP) _ Computer Programs and Systems Inc. (CPSI) on Tuesday reported second-quarter earnings of $3.1 million.
The Mobile, Alabama-based company said it had net income of 21 cents per share. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.
The healthcare information technology company posted revenue of $82.7 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $78.2 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPSI at https://www.zacks.com/ap/CPSI | https://www.myjournalcourier.com/business/article/Computer-Programs-and-Systems-Q2-Earnings-17346387.php | 2022-08-02T21:51:14 | en | 0.933367 |
GRAND CAYMAN, Cayman Islands (AP) _ Greenlight Capital Re Ltd. (GLRE) on Tuesday reported second-quarter earnings of $14.8 million.
On a per-share basis, the Grand Cayman, Cayman Islands-based company said it had net income of 37 cents.
The property and casualty reinsurance service provider posted revenue of $121.4 million in the period. Its adjusted revenue was $109.5 million.
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Mazda is going all in on its newest model and asking customers to pay more for the opportunity to join them. The 2023 Mazda CX-50 compact crossover gets an odd price increase of $800 across a lineup that went on sale new this spring. The destination fee increases to $1,275 as well.
A new Meridian Edition expands the trim and package levels to 10, and expands the price range from $28,825 for the base S to $43,575 for the top 2.5 Turbo Premium Plus, Mazda announced Tuesday.
Sitting near the top of the range is a new 2.5 Turbo Meridian Edition. The compact crossover gets a 2.5-liter turbo-4 that makes up to 250 hp and 320 lb-ft of torque (with 93 octane; 227 hp and 310 lb-ft of torque otherwise). When equipped with a tow package, it can tow up to 3,500 lb. There’s also a base 187-hp 2.5-liter inline-4 powering the six trims in the S line. Either engine pairs with a 6-speed automatic transmission and standard all-wheel drive.
Sharing a platform with the smaller CX-30 but sized larger than the 2023 CX-5, the new CX-50 represents Mazda’s first foray into off-road adjacent territory if not marketing. Like the 2022 Subaru Forester Wilderness or 2022 Toyota RAV4 Adventure, the 2023 CX-50 Meridian Edition best captures the off-road image of the CX-50 with all-terrain tires on 18-inch alloy wheels, different rocker and headlight accents, hood graphics, and, inside, a type of rust-colored leather upholstery with black accents.
There are plenty of “outdoor-specific accessories” for Mazda to sell buyers before they go to the aftermarket, Mazda says. A $1,235 Apex Package on top of the Meridian Edition adds a black roof rack and splash guards.
Any other CX-50 can be fitted with similar items that Mazda packages in a Meridian Choice option for $1,899. Available with either engine and any other trim, the package includes a black roof rack, splash guards, side rockers, and black wheel locks and lug nuts. And there’s a different hood graphic than on the Meridian Edition.
The 2023 Mazda CX-50 is on sale now.
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- 2023 Toyota Sequoia hybrid outlasts SUV rivals with 22 mpg | https://cw39.com/automotive/internet-brands/2023-mazda-cx-50-gets-mid-year-price-increase-new-meridian-edition/ | 2022-08-02T21:51:15 | en | 0.872206 |
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FLORHAM PARK, N.J. (AP) _ Conduent Incorporated (CNDT) on Tuesday reported break-even earnings in its second quarter.
The Florham Park, New Jersey-based company said it had net income that was 1 cent per share. Earnings, adjusted for non-recurring costs, were 3 cents per share.
The company posted revenue of $928 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNDT at https://www.zacks.com/ap/CNDT | https://www.myjournalcourier.com/business/article/Conduent-Q2-Earnings-Snapshot-17346374.php | 2022-08-02T21:51:20 | en | 0.952204 |
OKLAHOMA CITY (AP) _ Gulfport Energy Corp. (GPOR) on Tuesday reported second-quarter net income of $256.6 million.
On a per-share basis, the Oklahoma City-based company said it had profit of $10.34. Earnings, adjusted for non-recurring gains, came to $5.09 per share.
The natural gas producer posted revenue of $465.3 million in the period.
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Aston Martin will use 2022 Monterey Car Week on this month to debut two new vehicles, as well as provide an update on the progress of the Valhalla hypercar.
One of the vehicles will be a bespoke model developed by Q by Aston Martin, the automaker’s personalization department, which is celebrating its 10th anniversary this year. All Aston Martin would say about the vehicle is that it will provide a nod to the automaker’s successes at the 24 Hours of Le Mans.
The second model is described as a performance-focused offering. It’s confirmed to debut during a private showing scheduled for August 19 and then go on display during Aston Martin’s Club 1913 exhibit at the Pebble Beach Links Golf Course on Aug. 20 and 21. Rumors point to a convertible version of the V12 Vantage coupe unveiled in March.
As for the Valhalla, Aston Martin will present an updated version of the plug-in hybrid hypercar with an interior that’s likely more representative of the design planned for the production version arriving in 2024. Aston Martin hasn’t shown the Valhalla’s interior yet, but the automaker has said to expect an F1-style feet-up seating position, similar to the Valkyrie.
The Valhalla will be built in a run totaling 999 units. Each will be powered by a twin-turbocharged 4.0-liter V-8 mounted in the middle driving the rear wheels, plus two electric motor-generators at the front axle for a combined output of 937 hp. The V-8 is an AMG design and features a flat-plane crankshaft, similar to the AMG GT Black Series.
Monterey Car Week this year runs Aug. 12-21. It culminates with the Pebble Beach Concours d’Elegance on Aug. 21.
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- Maserati MC20 to go racing, starting with GT2 European Series | https://cw39.com/automotive/internet-brands/aston-martin-plans-2-reveals-for-2022-monterey-car-week-plus-valhalla-hypercar/ | 2022-08-02T21:51:22 | en | 0.899799 |
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COPPELL, Texas (AP) _ The Container Store Group Inc. (TCS) on Tuesday reported earnings of $10.5 million in its fiscal first quarter.
The Coppell, Texas-based company said it had profit of 21 cents per share.
The storage products retailer posted revenue of $262.6 million in the period.
Container Store expects full-year earnings in the range of $1.10 to $1.20 per share, with revenue expected to be $1.13 billion.
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WORCESTER, Mass. (AP) _ The Hanover Insurance Group Inc. (THG) on Tuesday reported second-quarter profit of $22.6 million.
The Worcester, Massachusetts-based company said it had profit of 63 cents per share. Earnings, adjusted for investment costs and to account for discontinued operations, were $2.32 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.
The insurance company posted revenue of $1.29 billion in the period. Its adjusted revenue was $1.37 billion.
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Most of the new electric vehicles arriving on the market aren’t cheap.
But the two-door Mini Cooper SE is a rare exception, and one of the three cheapest electric vehicles. It’s arguably way more exciting and image-boosting than the Chevy Bolt EV or Nissan Leaf, all of which start around $30,000 or less—if you’re prepared to work with its 114-mile range.
It was also one of the few EVs on the market that hadn’t seen a big price hike in the past year.
That is, until now. While the base Cooper SE held the line on pricing into this 2023 model year, carrying over its $30,750 sticker price (including the $850 destination fee), the price leader is no longer available. And the next-most-affordable EV option in the lineup costs $4,325 more.
According to Mini USA head of corporate communications Andrew Cutler, the base Cooper SE has been “made temporarily unavailable due to supply-chain-related issues.”
Mini had no further details on what that supply-chain constraint is. But it leaves quite an affordability gap versus the cheerful EV value leader that was.
The 2023 Mini Cooper SE gained more standard features, including a new steering wheel design plus an Apple CarPlay–compatible 8.8-inch center screen, a heated steering wheel, lane-departure warnings, and SiriusXM satellite radio.
At that, you might as well go to the top-trim Iconic 2.0 model, as we see it. The Signature 2.0 is mostly a step up in appearance and luxury versus the sought-after base model. At $35,075, it gets a panoramic sunroof plus multiple exterior, roof, and upholstery choices. In top Iconic 2.0 trim, costing $37,550, the Cooper SE gets Harman Kardon audio, a head-up display, front parking sensors, a parking assistant, and active cruise control.
But both are a big jump, for an affordability-minded shopper, from the base version.
If you can claim the $7,500 federal EV tax credit, that amounts to an effective price of $30,050 for the Iconic 2.0, versus $23,250 for the now-unavailable base model.
Mini suggests that while the base SE isn’t gone for good, it can’t provide a timeline for when it might return. In the meantime it’s dropped that version from its order tool, which notes even for those pricier versions, “Due to increased customer demand, production availability of model year 2023 MINIs is limited.”
There are many more fully electric models to come from the brand. Mini has suggested that it will shift entirely to EVs by the early 2030s, and Mini just last week teased a look at the design direction of the brand and a future all-electric crossover—in the Concept Aceman. It also recently teased the possibility of a fully electric convertible with a one-off Cooper SE Convertible.
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- Are regulators focusing too much on EV sales and not enough on retiring ICE vehicles? | https://cw39.com/automotive/internet-brands/one-of-the-cheapest-us-market-evs-now-starts-4325-higher-due-to-supply-chain-woes/ | 2022-08-02T21:51:29 | en | 0.928062 |
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MONMOUTH JUNCTION, N.J. (AP) _ CytoSorbents Corp. (CTSO) on Tuesday reported a loss of $10.9 million in its second quarter.
The Monmouth Junction, New Jersey-based company said it had a loss of 25 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The blood purification therapy company posted revenue of $8.5 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $9.6 million.
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ATLANTA (AP) _ Haverty Furniture Cos. (HVT) on Tuesday reported second-quarter net income of $21.7 million.
On a per-share basis, the Atlanta-based company said it had profit of $1.27.
The residential furniture and accessories retailer posted revenue of $253.2 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HVT at https://www.zacks.com/ap/HVT | https://www.lakecountystar.com/business/article/Haverty-Furniture-Q2-Earnings-Snapshot-17346470.php | 2022-08-02T21:51:33 | en | 0.915193 |
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Plug-in hybrid sales are stumbling in Europe, once an important market, as demand for all-electric vehicles rises, according to a recent Automotive News Europe report. But plug-in hybrids seem to be faring better in the United States.
As European consumers turned away from diesel cars and regulators tightened emissions rules in the wake of the Volkswagen diesel scandal, many automakers relied on plug-in hybrids to fill the breach, and sales were initially quite strong.
But recent sales data shows plug-in hybrids trending downward as EVs trend upward. In June, plug-in hybrid sales fell 28% in France and 16% in Germany, according to the report. And in the United Kingdom, two all-electric cars are now reportedly sold for every plug-in hybrid.
Bloomberg New Energy Finance (BNEF) also anticipates that plug-in hybrid sales will peak around 2026, with their share of plug-in sales on the decrease before then.
This isn’t totally unexpected, the report noted. Plug-in hybrids largely served as a stopgap effort until automakers could ready dedicated EV architectures. Vehicles based on those architectures are now reaching production, and anticipated stricter European Union emissions standards for 2025 could force automakers to shift more of their fleets to all-electric powertrains.
It might even be for the better. European regulators have considered ending the plug-in hybrid era early in order to shift the focus to all-electric vehicles. Europe now has a more advanced network of charging stations, meaning drivers are less likely to need an internal-combustion back-up, and some recent real-world tests have highlighted that plug-in hybrids can produce significant pollution when not driven on electric power.
Meanwhile, according to the Department of Energy, U.S. PHEV sales more than doubled from 2020 to 2021—a faster rate of growth than EVs. That’s in the context of strong EV sales, with all-electric models accounting for early three quarters of 2021 plug-in car sales in California—the biggest market for those vehicles in the U.S.
Experian Automotive recently noted that it took Toyota 11 plug-in hybrid, hybrid, and EV models to measure up to the U.S. new registration numbers of four Tesla EVs. But some plug-in hybrids, such as the Jeep Wrangler 4xe, have been selling very, very well. Plug-in hybrids topped 20% of Volvo’s U.S. sales in 2021. They’re well past that now.
Plug-in hybrids still offer more flexibility than all-electric cars, but they are also more challenging to explain. After years on the market, automakers struggle to understand whether drivers actually plug in their hybrids any more frequently than when they first appeared.
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- Study: Demand for hybrids and EVs is soaring in rural America | https://cw39.com/automotive/internet-brands/plug-in-hybrid-sales-stumble-in-europe-do-they-have-a-better-chance-in-the-us/ | 2022-08-02T21:51:35 | en | 0.939459 |
SPARTANBURG, S.C. (AP) _ Denny's Corp. (DENN) on Tuesday reported second-quarter net income of $23 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Spartanburg, South Carolina-based company said it had profit of 37 cents. Earnings, adjusted for non-recurring gains, came to 11 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The restaurant operator posted revenue of $115 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $110.7 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DENN at https://www.zacks.com/ap/DENN | https://www.myjournalcourier.com/business/article/Denny-s-Q2-Earnings-Snapshot-17346330.php | 2022-08-02T21:51:38 | en | 0.936754 |
DENVER (AP) _ Healthpeak Properties, Inc. (PEAK) on Tuesday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The Denver-based real estate investment trust said it had funds from operations of $238.8 million, or 44 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 43 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $68.1 million, or 13 cents per share.
The health care real estate investment trust, based in Denver, posted revenue of $517.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $505.8 million.
Healthpeak expects full-year funds from operations in the range of $1.68 to $1.74 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEAK at https://www.zacks.com/ap/PEAK | https://www.lakecountystar.com/business/article/Healthpeak-Q2-Earnings-Snapshot-17346313.php | 2022-08-02T21:51:39 | en | 0.960888 |
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HIGHLAND PARK, Ill. (WGN) — After almost a month in pediatric intensive care, 8-year-old Cooper Roberts, paralyzed from the waist down in the July 4 parade shooting in Highland Park, Illinois, has been discharged from the hospital.
According to an update on the boy’s GoFundMe page, Cooper was transferred Sunday to the Shirley Ryan Ability Lab.
The post also stated that Cooper was reunited with his dog George, whom the boy asked for when he regained consciousness after the shooting.
Family says they will work with the Ability Lab Medical Team to determine Cooper’s best physical therapy, rehabilitation and mental health services.
The boy’s twin brother was injured that day – he was struck in the legs by shrapnel – The Chicago Sun-Times reported, and their mother, Keely Roberts will require surgery to treat wounds to her foot and leg.
The GoFundMe page for Cooper has raised more than $1.7 million.
The Fourth of July shooting left seven people dead after the gunman opened fire, raining bullets down on the procession from the roof of a nearby building. The gunman was apprehended after leaving the scene, police say, and will face seven counts of murder, among other charges. | https://cw39.com/cw39/boy-paralyzed-in-highland-park-parade-shooting-discharged-from-hospital/ | 2022-08-02T21:51:42 | en | 0.971185 |
REDWOOD CITY, Calif. (AP) _ Electronic Arts Inc. (EA) on Tuesday reported fiscal first-quarter net income of $311 million.
The Redwood City, California-based company said it had profit of $1.11 per share. Earnings, adjusted for one-time gains and costs, were 32 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The video game maker posted revenue of $1.77 billion in the period. Its adjusted revenue was $1.3 billion, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $1.25 billion.
For the current quarter ending in October, Electronic Arts expects its per-share earnings to range from 78 cents to 86 cents.
The company said it expects revenue in the range of $1.85 billion to $1.9 billion for the fiscal second quarter.
Electronic Arts expects full-year earnings in the range of $2.79 to $2.87 per share, with revenue ranging from $7.6 billion to $7.8 billion.
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FARMINGTON, Conn. (AP) _ Horizon Technology Finance Corp. (HRZN) on Tuesday reported second-quarter net income of $7.6 million.
On a per-share basis, the Farmington, Connecticut-based company said it had profit of 31 cents. Earnings, adjusted for investment costs, were 35 cents per share.
The investment company posted revenue of $18.6 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HRZN at https://www.zacks.com/ap/HRZN | https://www.lakecountystar.com/business/article/Horizon-Technology-Finance-Q2-Earnings-Snapshot-17346467.php | 2022-08-02T21:51:45 | en | 0.930963 |
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(The Hill) – Sen. Joe Manchin (D-W.Va.) says he is exchanging materials with Sen. Kyrsten Sinema (D-Ariz.) to help her better understand the broad tax reform and climate bill he negotiated with Senate Majority Leader Charles Schumer (D-N.Y.) and says he is open to her suggestions as Democrats seek 50 votes to put the bill on the floor.
Manchin finally got a chance to speak to Sinema after lunch Tuesday, when she was scheduled to preside over the chamber.
Manchin was tight-lipped about the details of the conversation but made clear that he’s willing to consider changes she might want to make to the deal, which would raise $739 billion in new revenue over the next decade and reduce the deficit by more than $300 billion.
“We had a nice time. We had a nice time. Next?” Manchin said Tuesday when reporters pressed him for details of his chat with Sinema while she sat at the Senate dais.
Asked again shed any light on whether Sinema will vote for the bill, which would give President Biden the biggest legislative victory of this first two years in office, Manchin said his colleague would make her own decision.
“We’re exchanging text back and forth,” he said. She’s “extremely bright, she works hard, she makes good decisions based on facts. I’m reliant on that.”
Manchin said Schumer is “working with all the caucus” to get buy-in from all 50 members to get the budget reconciliation bill to the floor later this week.
Even though Sinema played a major role in negotiating the prescription drug reform component of the bill and set the broad parameters of the tax chapter, she learned about the deal at the same time as all of her colleagues and the general public — through a press release.
Manchin said he’s open to considering changes suggested by Sinema, including on a proposal to close the carried interest tax loophole, one of his priorities.
“We’re just basically exchanging back and forth, whatever I have that she hasn’t seen. And our staffs are working together very closely,” he said, adding he’s also exchanging materials relevant to the bill with other Democratic and Republican senators.
Asked if he would be willing to change the bill’s carried interest provision, Manchin responded: “Everyone is still talking.”
But Manchin defended closing the loophole that allows money managers to pay capital gains tax rates on income they collect from managing profitable investments.
Asked whether Sinema is upset that she didn’t get looped into last week’s talks with Schumer, which produced the surprise deal, Manchin said he didn’t want to get any senator’s hopes up when he didn’t know whether an agreement was even possible.
“She’s my dear friend,” he said. “But why bring anyone in and all their aspirations get high and the drama we go through and it doesn’t work out?
“I wasn’t really sure” a deal could be reached, he said. “I’m not in control of the timing” of the announcement of the deal, “Sen. Schumer is in control of the timing.”
“People getting mad because they think this is some kind of orchestrated coup against them is just so wrong,” he added. | https://cw39.com/cw39/manchin-and-sinema-in-discussions-on-climate-tax-deal/ | 2022-08-02T21:51:48 | en | 0.975334 |
SAN FRANCISCO (AP) — Elon Musk’s wealthy high tech allies don’t seem too happy about receiving subpoenas from Twitter as part of the company’s legal battle with the Tesla CEO.
San Francisco-based Twitter is suing Musk in Delaware in an attempt to get him to complete his $44 billion acquisition of the social media company, a deal Musk is trying to get out of. According to a report from The Washington Post, Twitter’s legal team on Monday asked for information about a host of tech investors and entrepreneurs connected to Musk in a wide-ranging subpoena. Twitter declined to comment.
According to the Post, the subpoena includes “extensive requests for communications, including 'checklists, timelines, presentations, decks, organizational calls, meetings, notes, recordings' related to the deal’s financing.'"
Well-known venture capitalists included in the subpoena, according to the report, are Marc Andreessen, founder of VC firm Andreessen Horowitz; former Facebook exec and CEO of Social Capital Chamath Palihapitiya; and David Sacks, the founding chief operating officer of PayPal and current general partner at Craft Ventures.
Sacks posted Monday on Twitter that “news that I am being subpoenaed by Twitter’s lawyers reminded me of this issue of Mad Magazine, I don’t know why.” He included a photo of the magazine's cover showing a hand raising a middle finger.
Joe Lonsdale, general partner at 8VC, called Twitter's subpoenas sent to “friends in the ecosystem” surrounding Musk, Andreessen and Sacks a “giant harassing fishing expedition.”
“I have nothing to do with this aside from a few snarky comments, but got a “YOU ARE HEREBY COMMANDED” document notice," he tweeted on Monday.
Representatives for Sacks, Andreessen and Palihapitiya did not immediately respond to messages for comment on Tuesday. Lonsdale did not immediately respond to a message sent through LinkedIn. | https://www.myjournalcourier.com/business/article/Elon-Musk-s-tech-allies-miffed-about-Twitter-17346275.php | 2022-08-02T21:51:51 | en | 0.940448 |
U.S. stocks are closing lower as Wall Street’s modest August retreat continued another day.
Stocks wavered over the day as investors are unsure whether the market’s strong run in July is the start of a turnaround or a temporary blip. The S&P 500, the Nasdaq and the Dow Jones Industrial Average fell. Analysts cited comments from Federal Reserve officials that suggested continued hikes to interest rates are coming in order to knock down inflation.
Caterpillar took a hit after reporting weak sales. Uber shares took off following its own strong quarterly report. Treasury yields climbed.
On Tuesday:
The S&P 500 fell 27.44 points, or 0.7%, to 4,091.19.
The Dow Jones Industrial Average fell 402.23 points, or 1.2%, to 32,396.17.
The Nasdaq fell 20.22 points, or 0.2%, to 12,348.76.
The Russell 2000 index of smaller companies fell 0.86 points, or less than 0.1%, to 1,882.45.
For the week:
The S&P 500 is down 39.10 points, or 0.9%.
The Dow Jones Industrial Average is down 448.96 points, or 1.4%.
The Nasdaq is down 41.93 points, or 0.3%.
The Russell 2000 index of smaller companies is down 2.78 points, or 0.1%.
For the year:
The S&P 500 is down 674.99 points, or 14.2%.
The Dow is down 3,942.13 points, or 10.8%.
The Nasdaq is down 3,296.21 points, or 21.1%.
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MOMBASA, Kenya (AP) — African officials outlined their priorities for the upcoming U.N. climate summit, including a push to make heavily polluting rich nations compensate poor countries for the environmental damage done to them.
The continent will also focus on how countries can adapt to global warming and how the continent can best halt further climate-related disasters. Africa has seen debilitating droughts in the east and Horn of Africa and deadly cyclones in the south.
Other key areas for discussion include moving from high-carbon energy sources like oil and gas to renewables, and “carbon credit” schemes, where foreign governments and companies pay for tree planting in exchange for producing greenhouse gases.
The U.N. climate conference, known as COP27, will be held in Egypt in November.
How much funding Africa gets is the biggest factor for how prepared it will be for a hotter future, said Harsen Nyambe, the director of sustainable environment at the African Union Commission.
“We recall the $100 billion that was promised has never been fulfilled and current assessments show that even that amount is not enough,” Nyambe said, referring to a 12-year-old pledge by rich nations to provide climate funding for poorer nations.
“Africa must be given adequate time to transition and transform its energy infrastructure. We cannot transform abruptly. We need resources, capacity, technology transfer and finance to power our development,” he added.
A commitment made in the previous international summit in Glasgow to spend half of climate funds on helping developing nations adapt to the effects of a warming world by having infrastructure and agriculture that’s resilient to more volatile weather systems, must be followed through, said Jean-Paul Adam, director of climate change for the U.N.’s Economic Commission for Africa.
He added the continent only received about 7.5% of its promised $70 billion in climate funding between 2014 and 2018.
Africa needs around $3 trillion to fulfill its self-determined emissions targets, known as nationally determined contributions, that each country is required to submit as part of the 2015 Paris agreement on climate, according to U.N. and Africa Development Bank estimates.
More meetings between the continent’s climate leaders are set to follow ahead of COP27.
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Associated Press climate and environmental coverage receives support from several private foundations. See more about AP’s climate initiative here. The AP is solely responsible for all content. | https://cw39.com/international/ap-international/africa-lays-out-goals-ahead-of-un-climate-summit/ | 2022-08-02T21:51:54 | en | 0.959664 |
MADISON, Wis. (AP) _ Exact Sciences Corp. (EXAS) on Tuesday reported a loss of $166.1 million in its second quarter.
The Madison, Wisconsin-based company said it had a loss of 94 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.07 per share.
The molecular diagnostics company posted revenue of $521.6 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $496.8 million.
Exact Sciences expects full-year revenue in the range of $1.98 billion to $2.02 billion.
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ENGLEWOOD, Colo. (AP) _ Innospec Inc. (IOSP) on Tuesday reported second-quarter earnings of $32.3 million.
On a per-share basis, the Englewood, Colorado-based company said it had net income of $1.29. Earnings, adjusted for non-recurring costs, were $1.58 per share.
The specialty chemicals company posted revenue of $467.6 million in the period.
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KYIV, Ukraine (AP) — Russia’s Supreme Court declared Ukraine’s Azov Regiment a terrorist organization Tuesday, a move that could lead to terror charges against some of the captured fighters who made their last stand inside Mariupol’s shattered steel plant.
Russia and its separatist allies are holding an estimated 1,000 Azov soldiers prisoner, many of them since their surrender at the steelworks in mid-May. Russian authorities have opened criminal cases against them, accusing them of killing civilians. The addition of terrorism charges could mean fewer rights and longer prison sentences.
A terrorist organization leader could receive 15 to 20 years, and group members could get five to 10, according to Russian state media.
In testimony journalists were allowed to view, witnesses appearing before the Supreme Court supported the proposed terrorism designation, but most of the proceedings were held behind closed doors, so it was not known if any opponents testified.
“I can testify myself that Ukrainian snipers — Azov snipers — really shot civilians trying to escape the city” of Mariupol, Marina Akhmedova of the Presidential Council for the Development of Civil Society and Human Rights testified. “I saw bodies lying on roads with my own eyes. There were many of them, and they were lying probably 10 meters apart from one another. There were no shell craters beside them.”
In a statement, the Azov Regiment dismissed the ruling, accusing the Kremlin of “looking for new excuses and explanations for its war crimes.” It urged the U.S. and other countries to declare Russia a terrorist state.
The Azov soldiers played a key part in the defense of Mariupol, holding out for weeks at the southern port city’s steel mill despite punishing attacks from Russian forces. Ukrainian President Volodymyr Zelenskyy hailed them and the other defenders as heroes.
Moscow has repeatedly portrayed the Azov Regiment as a Nazi group and accused it of atrocities, but has publicly produced little evidence.
The regiment, a unit within Ukraine’s National Guard, has a checkered past. It grew out of a group called the Azov Battalion, formed in 2014 as one of many volunteer brigades created to fight Russia-backed separatists in eastern Ukraine. The battalion drew its initial fighters from far-right circles.
While its current members reject accusations of extremism, the Kremlin has seized on the regiment’s right-wing origins to cast Russia’s invasion as a battle against Nazi influence in Ukraine. Russian state media has repeatedly shown what it claimed to be Nazi insignias, literature and tattoos associated with the regiment.
Last week, dozens of Ukrainian POWs, including Azov fighters from the steel plant, were killed in an explosion at a prison barracks in Olenivka, an eastern town controlled by pro-Russian separatists. Moscow and Kyiv have blamed each other, with Kyiv saying Russia blew up the barracks to cover up torture against the POWs.
Meanwhile, the first cargo ship loaded with grain to leave Ukraine since Russia invaded more than five months ago safely crossed the Black Sea and anchored just outside Istanbul on Tuesday en route to Lebanon, under an agreement Moscow and Kyiv signed last month to unblock Ukraine’s agricultural exports and ease a global food crisis.
An estimated 20 million tons of grain have been stuck in Ukraine since the start of war. The U.N.-brokered agreement to release the grain calls for the establishment of safe corridors through the mined waters outside Ukraine’s ports.
The Razoni, which set sail from the port of Odesa on Monday with more than 26,000 tons of corn, was scheduled for inspection Wednesday in Istanbul by a team of Russian, Ukrainian, Turkish and U.N. officials, as part of the deal.
More ships from Ukraine are expected to set out in the coming days. Some 27 vessels have been waiting in three Ukrainian ports with cargo and signed contracts, ready to go, said U.N. spokesman Stephane Dujarric.
Global food prices have been soaring in a crisis blamed on the war, supply chain problems and COVID-19. While Ukraine is a major global grain supplier, the agreement may not make much of a dent in world hunger.
Most of the grain stuck in Ukraine is to feed livestock, according to David Laborde, an expert at the International Food Policy Research Institute in Washington. Only 6 million tons is wheat, and just half of that is for human consumption, Laborde said. He said Monday’s shipload is chicken feed.
“A few ships leaving Ukraine is not going to be a game changer,” he said.
Still, Zelenskyy said the resumption of grain exports will reduce Russian authorities’ ability to extract concessions from the West. “They are losing one of the opportunities to terrorize the world,” he said in his nightly video address.
The ship’s departure came against a backdrop of continued fighting, especially in southern and eastern Ukraine. A Russian rocket hit an anti-aircraft missile system in the Lviv region of western Ukraine, near the Polish border, Ukrainian authorities said. There was no immediate word on damage or casualties.
In other developments Tuesday:
—The U.S. announced more sanctions against people close to Russian President Vladimir Putin, saying it has frozen the visa of a woman identified in news reports as Putin’s longtime romantic partner, Alina Kabaeva.
— American basketball star Brittney Griner was back in court for her trial for cannabis possession. Prosecutors called a narcotics expert who analyzed the substance found in Griner’s luggage. The defense called a specialist who challenged the analysis as flawed. If convicted, she could get 10 years in prison, though the U.S. has proposed a prisoner swap to win her release.
— A train carrying evacuees from the embattled Donetsk region arrived in Kropyvnytskyi in central Ukraine, beginning what Ukrainian authorities described as a compulsory evacuation in the east. Officials expect to evacuate 200,000 to 220,000 people from the region before the fall to get them out of harm’s way.
— Russian Defense Minister Sergei Shoigu claimed his country’s forces have destroyed six of the more than a dozen HIMARS rocket launcher systems that the U.S. has supplied to Ukraine. Ukraine issued no immediate comment. The launchers have given the Ukrainians more accurate, longer-range firepower.
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Fraser reported from Ankara, Turkey. Aya Batrawy contributed from Dubai, United Arab Emirates.
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Follow AP’s coverage of the Russia-Ukraine war at https://apnews.com/hub/russia-ukraine | https://cw39.com/international/ap-international/bad-weather-in-black-sea-slows-1st-ukrainian-grain-shipment/ | 2022-08-02T21:52:01 | en | 0.965654 |
SALT LAKE CITY (AP) _ Extra Space Storage Inc. (EXR) on Tuesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Salt Lake City, said it had funds from operations of $305.1 million, or $2.13 per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $2.04 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $232.1 million, or $1.73 per share.
The self-storage facility real estate investment trust posted revenue of $475 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $463.5 million.
Extra Space Storage expects full-year funds from operations in the range of $8.30 to $8.50 per share.
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GOLDEN VALLEY, Minn. (AP) _ Inspire Medical Systems Inc. (INSP) on Tuesday reported a loss of $14.5 million in its second quarter.
The Golden Valley, Minnesota-based company said it had a loss of 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 59 cents per share.
The maker of devices for treating obstructive sleep apnea posted revenue of $91.4 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $79.1 million.
Inspire expects full-year revenue in the range of $354 million to $362 million.
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MIAMI (AP) — It’s one of the seafood industry’s most gruesome hunts.
Every year, the fins of as many as 73 million sharks are sliced from the backs of the majestic sea predators, their bleeding bodies sometimes dumped back into the ocean where they are left to suffocate or die of blood loss.
But while the barbaric practice is driven by China, where shark fin soup is a symbol of status for the rich and powerful, America’s seafood industry isn’t immune from the trade.
A spate of recent criminal indictments highlights how U.S. companies, taking advantage of a patchwork of federal and state laws, are supplying a market for fins that activists say is as reprehensible as the now-illegal trade in elephant ivory once was.
A complaint quietly filed last month in Miami federal court accused an exporter based in the Florida Keys, Elite Sky International, of falsely labeling some 5,666 pounds of China-bound shark fins as live Florida spiny lobsters. Another company, south Florida-based Aifa Seafood, is also under criminal investigation for similar violations, according to two people on the condition of anonymity to discuss the ongoing probe. The company is managed by a Chinese-American woman who in 2016 pleaded guilty to shipping more than a half-ton of live Florida lobsters to her native China without a license.
The heightened scrutiny from law enforcement comes as Congress debates a federal ban on shark fins — making it illegal to import or export even foreign-caught fins. Every year, American wildlife inspectors seize thousands of shark fins while in transit to Asia for failing to declare the shipments.
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This story was supported by funding from the Walton Family Foundation. The AP is solely responsible for all content.
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While not all sharks are killed just for their fins, none of the other shark parts harvested in the U.S. and elsewhere — such as its meat, jaws or skin — can compete with fins in terms of value. Depending on the type of shark, a single pound of fins can fetch hundreds of dollars, making it one of the priciest seafood products by weight anywhere.
“If you’re going out of business because you can no longer sell fins, then what are you actually fishing for?,” said Whitney Webber, a campaign director at Washington-based Oceana, which supports the ban.
Since 2000, federal law has made it illegal to cut the fins off sharks and discard their bodies back into the ocean. However, individual states have wide leeway to decide whether or not businesses can harvest fins from dead sharks at a dock, or import them from overseas.
The legislation working its way through Congress would impose a near-total ban on trade in fins, similar to action taken by Canada in 2019. The legislation, introduced in 2017 by a bipartisan group of lawmakers, has majority support in both the House and Senate.
Among those opposing the proposed ban is Elite, which has hired lobbyists to urge Congress to vote against the bill, lobbying records show.
It’s not known where Elite obtained its fins. But in the criminal complaint, the company was also accused of sourcing lobster from Nicaragua and Belize that it falsely stated was caught in Florida. The company, affiliated with a Chinese-American seafood exporter based in New York City, was charged with violating the Lacey Act, a century-old statute that makes it a crime to submit false paperwork for any wildlife shipped overseas.
An attorney for Elite wouldn’t comment nor did two representatives of Aifa when reached by phone.
Overfishing has led to a 71% decline in shark species since the 1970s. The International Union for Conservation of Nature, a Switzerland-based group that tracks wildlife populations, estimates that over a third of the world’s 500-plus shark species are threatened with extinction.
Contrary to industry complaints about excessive regulations, the U.S. is hardly a model of sustainable shark management, said Webber. She pointed to a recent finding by the National Oceanic and Atmospheric Administration that less than 23% of the 66 shark stocks in U.S. waters are safe from overfishing. The status of more than half of shark stocks isn’t even known.
The situation in Europe is even worse: a new report from Greenpeace, called “Hooked on Sharks,” revealed what it said is evidence of the deliberate targeting of juvenile blue sharks by fishing fleets from Spain and Portugal. The report found that the U.S. is the world’s fourth-largest shark exporter behind Spain, China and Portugal, with exports of 3.2 million kilograms of meat — but not fins — worth over $11 million in 2020.
Webber said rather than safeguard a small shark fishing industry, the U.S. should blaze the trail to protect the slow-growing, long-living fish.
“We can’t ask other countries to clean up their act if we’re not doing it well ourselves,” said Webber.
She said the current laws aren’t enough of a deterrent in an industry where bad actors drawn by the promise of huge profits are a recurrent problem.
Case in point: Mark Harrison, a Florida fisherman who in 2009 pleaded guilty to three criminal counts tied to his export of shark fins, some of them protected species. He was ordered to pay a $5,000 fine and was banned from having anything to do with the shark fin trade for five years.
But federal prosecutors allege that he reconnected to associates of his former co-conspirators in 2013 in violation of the terms of his probation. He was arrested in 2020 on mail and wire fraud conspiracy charges as part of a five-year investigation, called Operation Apex, targeting a dozen individuals who also allegedly profited from drug trafficking. Prosecutors allege Harrison’s Florida-based Phoenix Fisheries was a “shell company” for individuals based in California, where possession of fins has been illegal since 2011.
As part of the bust, the Feds found documents about some 6 tons of shark fin exports and seized 18 totoaba fish bladders, a delicacy in Asia taken from an endangered species. They also seized 18,000 marijuana plants, multiple firearms and $1 million in diamonds — pointing to a criminal enterprise that transcended illegal seafood and stretched deep into the Mexican and Chinese mafia underworlds.
“This operation is about much more than disrupting the despicable practice of hacking the fins off sharks and leaving them to drown in the sea to create a bowl of soup,” Bobby Christine, then U.S. Attorney for the Southern District of Georgia, said at the time.
An attorney for Harrison declined to comment on the case, which has yet to go to trial. But unlike his co-defendants, Harrison isn’t implicated in any drug-related or weapons offenses. Supporters say he has complied with all laws and is being unfairly targeted by bureaucrats overlooking the key role he played in the 1980s, when sharks were even more threatened, developing the U.S. shark fishery.
“They appear to be using the current widespread empathy toward sharks for publicity and career advancement in what would otherwise be a very routine matter,” reads a website run by supporters seeking to raise $75,000 for a “Shark Defense Fund” to help Harrison fight the charges.
“In the process, they are seeking to tarnish Mark’s reputation and deal a blow to the American shark fishery,” according to the website, which was taken down after the AP started making inquiries.
Demian Chapman, who heads shark research at the Mote Marine Laboratory in Sarasota, Florida, said that the push to ban commercial fishing of sharks could backfire.
“If you subtract the U.S. from the fin trade entirely, it won’t do anything to directly affect international demand and it’s likely that other countries, with far less regulation of their fisheries, will fill the void,” said Chapman.
He said the bill introduced by Sen. Cory Booker, a Democrat of New Jersey, appears to be driven by “shark fans” — not “shark fins” — and those who want to see the fish species afforded the same very high level of protection afforded to marine mammals and sea turtles. He said few in the U.S. are involved in the cruel, wasteful practice of shark finning and that the U.S.’ role as a transit hub for fins can be remedied without punishing American fishers.
“There’s a disconnect between perceptions and reality,” said Chapman. “In the 25 years I’ve been studying sharks, they’ve gone from demon fish to a group of species that many people want to protect. This is great but we have to support science-based management measures that address the real problems.”
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Joshua Goodman on Twitter: @APJoshGoodman
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PHILADELPHIA (AP) _ FMC Corp. (FMC) on Tuesday reported second-quarter earnings of $134.2 million.
The Philadelphia-based company said it had net income of $1.06 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.93 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The chemical producer posted revenue of $1.45 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.35 billion.
For the current quarter ending in October, FMC expects its per-share earnings to range from $1 to $1.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.55.
The company said it expects revenue in the range of $1.31 billion to $1.39 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.26 billion.
FMC expects full-year earnings in the range of $7 to $7.70 per share, with revenue ranging from $5.5 billion to $5.7 billion.
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PENNSAUKEN, N.J. (AP) _ J&J Snack Foods Corp. (JJSF) on Tuesday reported fiscal third-quarter earnings of $15.6 million.
The Pennsauken, New Jersey-based company said it had net income of 81 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 93 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The drink and snack maker posted revenue of $380.2 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $351.4 million.
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HUEHUETENANGO, Guatemala (AP) — At dawn, police and federal agents with cover from helicopters flying overhead raided a large ranch nestled among the mountains of northern Guatemala, not far from the border with Mexico.
Unlike the ranch’s impoverished neighbors, inside authorities found horse stables, a swimming pool, late model vehicles, guns and a still drunk Felipe Diego Alonso, the alleged leader of a smuggling ring that moved migrants from Guatemala north to the United States.
The raid was part of several carried out Tuesday in four Guatemalan provinces against a migrant smuggling ring, for which authorities say they’ve documented $2 million in revenue since 2019.
Alonzo and three others arrested Tuesday were targets of U.S. prosecutors, wanted in connection with the death of a Guatemalan migrant in Texas last year. In total, authorities nabbed 19 alleged members of the smuggling ring.
The arrests came a month after 53 migrants, including 21 Guatemalans, died in a failed smuggling attempt when they were abandoned inside a sweltering trailer in San Antonio, Texas. There was no indication those arrested Tuesday were involved in the San Antonio tragedy.
The extradition of alleged migrant smugglers known as “coyotes” has been rare and these would be the first known cases in Guatemala of smugglers allegedly pursued for the death of a migrant in the United States.
Prosecutions of migrant smugglers in Guatemala have proven exceedingly difficult because migrants are almost never willing to identify or testify against their smugglers. In some cases they hope for another chance to migrate to the United States with the smuggler’s help and in others they are afraid of the smugglers or their organized crime connections.
Alonzo, appearing groggy in blue jeans and a white golf shirt, said he was an onion grower who also sometimes sold land and automobiles.
Some of the detainees were flown to Guatemala City for their initial court appearances.
The arrests come at a time of heightened tensions between Guatemala’s President Alejandro Giammattei and Washington.
The Biden administration has been outspoken in its criticism of perceived backsliding on corruption prosecutions. The U.S. government sanctioned Guatemala’s Attorney General Consuelo Porras, alleging she was an obstacle to anti-corruption work and was now pursuing judges and prosecutors who had worked on corruption cases.
It was the Attorney General’s Office backed by National Police that carried out the raids near the northern town of Huehuetenango at dawn Tuesday.
“This was an organized group dedicated to getting migrants with the proposal of transporting them to Mexico and then to the United States,” said Stuardo Campo, Guatemala’s prosecutor for migrant trafficking.
He said that the U.S. Department of Homeland Security had supported the operation. Guatemalan authorities had documented 11 operations by the smuggling network to move migrants since last October, but Campo did not say how many migrants were smuggled.
The four people arrested at the request of U.S. authorities are allegedly linked to the death of Marta Raymundo Corio who was found dead near Odessa, Texas after being smuggled through Mexico in early 2021.
Campo said the woman had died in a warehouse in Texas due to a lack of food and water and her relatives had requested the help of authorities in determining what had happened.
As Alonzo was led away Tuesday, he told authorities to take care of his animals. Speaking Kanjobal, an Indigenous language, he said “I’d rather they eat than I eat.” | https://cw39.com/international/ap-international/guatemala-arrests-migrant-smugglers-wanted-by-the-us/ | 2022-08-02T21:52:15 | en | 0.981149 |
JACKSONVILLE, Fla. (AP) _ Fidelity National Financial Inc. (FNF) on Tuesday reported second-quarter profit of $382 million.
On a per-share basis, the Jacksonville, Florida-based company said it had profit of $1.37. Earnings, adjusted for non-recurring costs, came to $1.90 per share.
The provider of title insurance and mortgage services posted revenue of $2.63 billion in the period.
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CARMEL, Ind. (AP) _ KAR Auction Services Inc. (KAR) on Tuesday reported second-quarter earnings of $210.2 million.
The Carmel, Indiana-based company said it had profit of $1.28 per share. Losses, adjusted for one-time gains and costs, were 4 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The used and salvaged vehicle auctioneer posted revenue of $384.2 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $376.5 million.
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NEW DELHI (AP) — India will give a $100 million line of credit to the Maldives to support development projects, Prime Minister Narendra Modi said on Tuesday after holding talks with his counterpart, President Ibrahim Mohamed Solih.
Solih arrived in India on Monday for a four-day visit. The two countries inked six agreements to boost cooperation in several areas, including disaster management, cyber security and affordable housing.
The two leaders also marked the start of construction on the Greater Male Connectivity Project, a 6.74- kilometer- (4.2 mile)- long bridge and causeway funded by India that will connect the nation’s capital, Male, to three other islands.
Both stressed the importance of close ties between their two countries as vital for peace and stability in the region.
“There has been renewed vigor in the friendly ties between India and Maldives. Our closeness has increased,” Modi said, adding that despite challenges sparked by the Covid-19 pandemic, cooperation between the two countries has strengthened.
Solih said the two leaders discussed terrorism and the need to “enhance maritime safety and security in the Indian Ocean region”. Neither mentioned China, but Solih’s election in 2018 marked a shift from his predecessor, Abdulla Yameen Abdul Gayoom, who developed close ties with Beijing in an area India considers as its backyard.
India has been concerned by Yameen’s leaning towards China, which has sought to gain more influence in the Indian Ocean. The former president had pledged support for China’s Belt and Road Initiative, with the country investing in many infrastructure projects in the Maldives.
“The Maldives will always remain a true friend of India,” Solih said on Tuesday, adding that the relationship between the two will be “of the highest priority”.
His visit follows an announcement that he will run for re-election in 2023. Since coming to power, the Maldivian president has touted his government’s “India-first policy” and has pledged full support toward deepening ties with New Delhi. | https://cw39.com/international/ap-international/india-announces-a-100-million-credit-line-to-the-maldives/ | 2022-08-02T21:52:21 | en | 0.96753 |
IRVINE, Calif. (AP) _ Five Point Holdings LLC (FPH) on Tuesday reported a loss of $5.1 million in its second quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of 7 cents.
The real estate developer posted revenue of $5.4 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FPH at https://www.zacks.com/ap/FPH | https://www.myjournalcourier.com/business/article/Five-Point-Q2-Earnings-Snapshot-17346563.php | 2022-08-02T21:52:22 | en | 0.931335 |
WESTFORD, Mass. (AP) _ Kadant Inc. (KAI) on Tuesday reported second-quarter profit of $26.2 million.
The Westford, Massachusetts-based company said it had net income of $2.24 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $221.6 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $219.4 million.
For the current quarter ending in October, Kadant said it expects revenue in the range of $211 million to $218 million.
The company expects full-year earnings in the range of $8.80 to $9 per share, with revenue ranging from $890 million to $905 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KAI at https://www.zacks.com/ap/KAI | https://www.lakecountystar.com/business/article/Kadant-Q2-Earnings-Snapshot-17346566.php | 2022-08-02T21:52:22 | en | 0.938779 |
You need to enable JavaScript to run this app. | https://sportspyder.com/mlb/new-york-yankees/articles/40267204 | 2022-08-02T21:52:24 | en | 0.738227 |
PORTO TOLLE, Italy (AP) — Drought and unusually hot weather have raised the salinity in Italy’s largest delta, where the mighty Po River feeds into the Adriatic Sea south of Venice, and it’s killing rice fields along with the shellfish that are a key ingredient in one of Italy’s culinary specialties: spaghetti with clams.
At least one-third of the stock of prized double-valve clams raised in the Po Delta have died off. Plants along the banks of the Po River are wilting as they drink in water from increasingly salty aquifers and secondary waterways have dried up, shrinking amphibians and birds’ wetland homes.
“It is evident that there is an entire system with an ecology that will have permanent problems,’’ said Giancarlo Mantovani, director of Po River Basin Authority. The ecosystem includes the Po Delta Park, which along with neighboring lands in Veneto form a reserve recognized by UNESCO for its biodiversity.
The amount of water entering the delta from the Po River is at an all-time low, hitting just 95 cubic meters (3,350 cubic feet) a second last month, due to drought conditions caused by a lack of wintertime snowpack and spring and summer rains. That is one-tenth of annual averages. It has been nearly two months since farmers have been able to tap the river water for agriculture.
The impact may be even more lasting, as saltwater is leaching inland distances never before recorded, and seeping into aquifers, underground layers of rock that can hold water.
And while deltas are by definition an area of exchange between fresh and salt water, the movement is becoming more and more one-directional: Inland penetration of saltwater has increased from two kilometers (just over a mile) in the 1960s and 10 kilometers (six miles) in the 1980s to an astounding 38 kilometers (nearly 24 miles) this year.
“The territory around the Po is three meters below sea level, therefore there is a continual flow of saline water that is going into the aquifers,’’ Mantovani said. “We are therefore not only creating an agricultural problem, a human problem, but also an environmental problem. … This is a perfect storm.”
For growers of clams, excessive salinity, high temperatures and the resulting spread of algae are suffocating the mollusk that is the centerpiece of one of summertime Italy’s favorite dishes: Spaghetti alle vongole. And none are more prized than the vongole veraci with a striped and grooved shell that are raised in the Adriatic Sea.
“You can see the clams are suffering,’’ said Katisucia Bellan, who has been clamming for 27 years. “In the afternoon, with this heat, the lagoon dries up. You can pass with the tractor here.”
According to the Coldiretti agricultural lobby, this year’s die-off could accelerate if the proper exchange of salt and fresh water is not restored. It blames the failure to remove sediment from the delta, which allows oxygen and fresh water into the lagoon, for aggravating the situation.
Meanwhile, clam farmers worried that more stock could die have rushed to market while they still have mollusks to sell. This abundance has forced down prices, creating more economic hardship. “There is a double negative effect: die-off and lower prices,’’ said Coldiretti’s Alessandro Faccioli said.
Nearby rice growers also are watching the rise of salinity with increasing anxiety. The paddies of the Po Delta are a small part of Italy’s national rice production, which is centered in drought-stricken Piedmont and Lombardy closer to the source of the Po River. While the bigger producers are suffering from a lack of water in their fields, those in the delta are suffering the increased salt content, which is killing off plants.
Grower Elisa Moretto, who runs a small family business, hopes they can salvage one-third of their crop this year, but that remains to be seen. If she can eke a profit is up to other forces, including increased fuel and fertilizer costs.
But the real worry is for the future, if salinity rises and causes permanent damage to the aquifers.
“If that happens, everything dies,’’ Moretto said.
___
Associated Press climate and environmental coverage receives support from several private foundations. See more about AP’s climate initiative here. The AP is solely responsible for all content. | https://cw39.com/international/ap-international/italys-salty-po-delta-hurting-agriculture-fisheries/ | 2022-08-02T21:52:28 | en | 0.961611 |
GREENWICH, Conn. (AP) _ GXO Logistics Inc. (GXO) on Tuesday reported second-quarter earnings of $51 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had net income of 44 cents. Earnings, adjusted for one-time gains and costs, were 68 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The contract logistics provider posted revenue of $2.16 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.11 billion.
GXO Logistics expects full-year earnings in the range of $2.70 to $2.90 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GXO at https://www.zacks.com/ap/GXO | https://www.myjournalcourier.com/business/article/GXO-Logistics-Q2-Earnings-Snapshot-17346469.php | 2022-08-02T21:52:28 | en | 0.948511 |
INDIANAPOLIS (AP) _ Kite Realty Group Trust (KRG) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Indianapolis, said it had funds from operations of $108.4 million, or 49 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 43 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $13.1 million, or 6 cents per share.
The real estate investment trust posted revenue of $202.6 million in the period.
Kite Realty Group expects full-year funds from operations in the range of $1.80 to $1.86 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KRG at https://www.zacks.com/ap/KRG | https://www.lakecountystar.com/business/article/Kite-Realty-Group-Q2-Earnings-Snapshot-17346452.php | 2022-08-02T21:52:28 | en | 0.957277 |
You need to enable JavaScript to run this app. | https://sportspyder.com/mlb/new-york-yankees/articles/40267395 | 2022-08-02T21:52:30 | en | 0.738227 |
FOSTER CITY, Calif. (AP) _ Gilead Sciences Inc. (GILD) on Tuesday reported second-quarter earnings of $1.14 billion.
The Foster City, California-based company said it had profit of 91 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were $1.58 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The HIV and hepatitis C drugmaker posted revenue of $6.26 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $5.88 billion.
Gilead expects full-year earnings in the range of $6.35 to $6.75 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GILD at https://www.zacks.com/ap/GILD | https://www.myjournalcourier.com/business/article/Gilead-Q2-Earnings-Snapshot-17346293.php | 2022-08-02T21:52:34 | en | 0.934166 |
MOSCOW (AP) — The Kremlin on Tuesday strongly warned the United States against provoking China with a possible trip to Taiwan by U.S. House Speaker Nancy Pelosi, saying it will raise tensions to a new dangerous level.
Pelosi left Malaysia on Tuesday and was expected to visit Taiwan, escalating tensions with Beijing, which claims the self-ruled island as its own territory. It was unclear where she was headed from Malaysia, but local media in Taiwan reported that she would arrive on Tuesday night, becoming the highest-ranking elected U.S. official to visit in more than 25 years.
Kremlin spokesman Dmitry Peskov warned that such a visit would be “extremely provocative,” adding that it would “exacerbate the situation in the region and fuel tensions.”
Speaking in a call with reporters, Peskov reaffirmed Russia’s “absolute solidarity” with China, noting that the issue of Taiwan is very sensitive for Beijing.
“Instead of dealing with this sensitivity with respect, the U.S. has regrettably chosen the path of confrontation,” he added. “It will bring no good, we can only express regret.”
Taiwan and China split in 1949 following a civil war that ended with a communist victory on the mainland. They have no official relations but are linked by billions of dollars of trade and investment. Both sides say they are one country but disagree over which government is entitled to national leadership.
Peskov’s comments reflected close ties between Moscow and Beijing, which have grown stronger since Russia sent its troops into Ukraine on Feb. 24. China has pointedly refused to criticize Russia’s action, blaming the U.S. and NATO for provoking Moscow, and has blasted punishing sanctions imposed on Moscow.
Russia and China have held a series of joint war games in recent years, including naval drills and patrols by long-range bombers over the Sea of Japan and the East China Sea. Last year, Russian troops for the first time deployed to Chinese territory for joint maneuvers.
Even though Moscow and Beijing in the past rejected the possibility of forging a military alliance, Russian President Vladimir Putin has said that such a prospect can’t be ruled out. He also has noted that Russia has been sharing highly sensitive military technologies with China that helped significantly bolster its defense capability. | https://cw39.com/international/ap-international/kremlin-strongly-backs-beijing-as-pelosis-taiwan-trip-looms/ | 2022-08-02T21:52:34 | en | 0.973851 |
ITASCA, Ill. (AP) _ Knowles Corp. (KN) on Tuesday reported a second-quarter loss of $242.9 million, after reporting a profit in the same period a year earlier.
The Itasca, Illinois-based company said it had a loss of $2.64 per share. Earnings, adjusted for asset impairment costs and pretax expenses, were 33 cents per share.
The maker acoustic components such as microphones posted revenue of $188 million in the period.
For the current quarter ending in October, Knowles expects its per-share earnings to range from 17 cents to 21 cents.
The company said it expects revenue in the range of $170 million to $185 million for the fiscal third quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KN at https://www.zacks.com/ap/KN | https://www.lakecountystar.com/business/article/Knowles-Q2-Earnings-Snapshot-17346443.php | 2022-08-02T21:52:35 | en | 0.950537 |
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