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Solution available in 170 Digital Realty data centers globally
SINGAPORE, May 16, 2024 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions, today announced the availability of groundbreaking liquid-to-chip cooling technology, the next evolution in high-density deployment support. This innovative advancement represents a significant leap forward in addressing the evolving challenges of managing high-density workloads, particularly in the realm of artificial intelligence (AI) and data-intensive applications.
The new offering from Digital Realty, which builds upon the company's standardized high-density colocation offering, introduces direct liquid cooling (DLC), bringing liquid directly to customers' infrastructure, allowing for greater relevance and versatility in meeting emerging AI demand. This approach enables businesses to deploy high-density configurations within a shared environment, in close proximity to the cloud, as well as network and AI service providers, while accommodating the distinct needs of individual setups, providing additional flexibility to customers. Furthermore, Digital Realty's recently announced Private AI Exchange (AIPx) allows for new data exchange options in support of these DLC-enabled solutions.
Key highlights of Digital Realty's advanced high-density deployment support include the ability to leverage a wide range of mechanical solutions, such as rear door heat exchangers (RDHx) and DLC, enabling the efficient management of power densities ranging from 30 to 150 kilowatts per rack, and beyond. The combination of RDHx with DLC effectively doubles the power densities that can be supported, empowering businesses to tackle the escalating demands of modern IT infrastructure and accelerate the adoption of AI by enterprises, through private, cloud and hybrid solutions.
Digital Realty's solution is designed to be both flexible and accessible. Deployment options are available in more than half of Digital Realty's data centers worldwide, with plans to expand support to additional sites and to leverage existing infrastructure to meet emerging AI requirements.
"We're proud to align with our customers in evolving their infrastructure to support this cutting-edge liquid-to-chip technology, enabling them to land and expand their deployments efficiently and redefine what's possible in the digital age. With this cutting-edge liquid-to-chip cooling technology, we're not just setting a new standard for high-density deployment support, we're revolutionizing the digital infrastructure landscape," said Chris Sharp, Chief Technology Officer, Digital Realty.
"AI is revolutionizing nearly every aspect of every industry. By working with great partners like Digital Realty, we're helping enterprises of any size on their AI journeys. The Lenovo-Digital Realty partnership forms a critical cornerstone of the hybrid AI vision, enabling organizations to harness the full potential of emerging technologies to deliver innovation faster," said Scott Tease, Vice President and General Manager of HPC and AI for Lenovo ISG.
"Organizations are increasingly investing in generative AI and high-performance computing and need private, high-density environments. Digital Realty's HD Colocation offering is a strong response to the flourishing market need for high-density racks and presents an ideal solution to significantly accelerate time-to-value for these organizations, while avoiding the need for lengthy and costly capital projects to build or retrofit new capacity. This offering aligns with IDC's colocation provider recommendations for the gen AI market," said Sean Graham, IDC Research Director, Cloud to Edge Datacenter Trends.
The deployment process for this high-density solution is streamlined and efficient, drawing on Digital Realty's extensive experience in designing and delivering bespoke colocation solutions for customers, helping to accelerate time-to-value.
About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 25+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and X.
For Additional Information
Media Contacts
Sin Huay Ho
Digital Realty
+65 8125 8380
[email protected]
Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 737 281 0101
[email protected]
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to Digital Realty's growth prospects, strategy and customer demand for its products and services. For a list and description of Digital Realty's risks and uncertainties, see the reports and other filings by Digital Realty with the U.S. Securities and Exchange Commission. Digital Realty disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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https://www.prnewswire.com/in/news-releases/digital-realty-unveils-advanced-high-density-deployment-support-for-liquid-to-chip-cooling-302147318.html
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Dredger Corporation of India Ltd. (DCIL) Adopts RFID for Seamless Inventory Management
GURUGRAM, India, May 17, 2024 /PRNewswire/ -- ID Tech, a leader in advanced automation solutions, is proud to announce the successful acquisition of a significant tender from Dredger Corporation of India Ltd. (DCIL). This pivotal project will introduce an advanced RFID-based inventory management system to streamline and optimize the maintenance operations of DCIL's fleet, starting with their dredger stationed at Haldia Port, Kolkata.
DCIL, a key player in maintaining India's port infrastructure, operates and oversees a fleet of 12 dredgers tasked with ensuring optimal depth and width at various ports through continuous dredging activities. These rigorous operations necessitate meticulous maintenance and spare parts management to minimize downtime and enhance operational efficiency.
Recognizing the critical need for precise inventory tracking and management, DCIL has entrusted ID Tech with the development and implementation of a robust RFID-based Inventory Management System for their Spare Parts. This innovative solution will provide seamless tracking of spare parts from land-based storage facilities to onboard storerooms, culminating in the actual usage on the dredgers.
The core components of this system include:
Web-Based Software: Designed for Desktop/Server usage, providing a centralized platform for inventory management, integrated with DCIL's existing ERP system for maintaining financial accuracy and operational transparency.
Android Application: Compatible with Handheld Readers (HHR) and Tablet Readers, enabling on-the-go inventory tracking.
RFID Technology: Utilizing IDT RFID Wire Seals, UHF On-Metal Tags, and various other RFID tags & labels to ensure accurate asset tracking.
Mr. Saurav Khemani, Managing Director of ID Tech Solutions Pvt. Ltd., emphasized the significance of this collaboration, stating, "This project marks a significant milestone for ID Tech in expanding our footprint in the maritime sector and underscores our commitment to delivering our advanced RFID-based inventory management system that enhances the overall efficiency of DCIL's operations and sets a new benchmark in the maritime industry for asset management and maintenance."
About ID Tech:
ID Tech is a leading provider of advanced technology solutions that enable businesses to achieve greater efficiency, productivity, and profitability. With a focus on innovation and quality, ID Tech provides customized solutions that meet the unique needs of its customers. For more information on the innovative uses of RFID technology, please visit our website at https://www.idsolutionsindia.com/.
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https://www.prnewswire.com/in/news-releases/dredger-corporation-of-india-ltd-dcil-adopts-rfid-for-seamless-inventory-management-302148787.html
| 2024-05-20T22:21:30
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Embracing a Brighter Future: KuCoin's Compliance Initiative and Temporary Pause on P2P Nigerian Naira (NGN) Services
VICTORIA, Seychelles, May 16, 2024 /PRNewswire/ -- KuCoin, a leading global cryptocurrency exchange, announced a key step forward in its ongoing compliance efforts in Nigeria. As part of its commitment to providing secure and compliant trading options, KuCoin will be temporarily suspending all Peer-to-Peer (P2P) Nigerian Naira (NGN) services and Fast Buy service via Naira cards starting from May 15, 2024, at 08:00 UTC
This decision marks another significant move by KuCoin to ensure full compliance with local regulations, reflecting its dedication to legal and secure operations. This follows its recent registration as the first global exchange to successfully register with the Financial Intelligence Unit (FIU) in India, underscoring the commitment to meeting regulatory standards worldwide.
For the time being, KuCoin will focus on ensuring all systems are meeting the compliance requirements set by Nigerian authorities, with the goal of providing the best products and services responsibly to our users according to the standards of their respective jurisdiction.
KuCoin CEO Johnny Lyu stated, "Our decision to temporarily suspend these services is a proactive step towards being compliant to Nigerian regulations. Which aligns with our global strategy of providing a safe, secured and transparent trading environment for all of our users. We are committed to Nigeria and working diligently with the Nigerian authorities."
Meanwhile, KuCoin assures all users that their assets remain safe and secured and all other services will continue to operate normally.
For more information, please visit KuCoin's official website.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 900 digital assets and currently provides Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 31 million users in more than 200 countries and regions. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder's 2023 Global Cryptocurrency Trading Platform Awards. Learn more at https://www.kucoin.com/.
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https://www.prnewswire.com/in/news-releases/embracing-a-brighter-future-kucoins-compliance-initiative-and-temporary-pause-on-p2p-nigerian-naira-ngn-services-302147620.html
| 2024-05-20T22:21:37
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ENNOVI Achieves Prestigious EcoVadis Platinum Sustainability Rating for Unprecedented Fourth Year
Accolade aligns with ENNOVI's mission to positively impact e the e-mobility industry
SINGAPORE, May 16, 2024 /PRNewswire/ -- ENNOVI, a mobility electrification solutions partner, is proud to announce its continued recognition for outstanding sustainability performance by EcoVadis, the world's most reputable provider of business sustainability ratings. Demonstrating an unwavering commitment to environmental stewardship, ethical practices, and social responsibility, ENNOVI has once again secured the EcoVadis Platinum Medal, placing it in the top 1% of over 130,000 companies assessed worldwide in 2023.
This year's accomplishment marks a significant milestone for ENNOVI, showcasing continuous improvement and a steadfast dedication to sustainability excellence since first achieving the Platinum rating in 2021. The company's success is attributed to its sustainability team, for identifying and addressing areas for enhancement, particularly in Procurement and Labor & Human Rights.
ENNOVI's strategic initiatives include further reductions in energy consumption, water use, waste generation, and greenhouse gas emissions, alongside intensified efforts in recycling and sustainable energy use. The company is also amplifying its focus on training and awareness programs to bolster environmental impacts, human rights, fair trade practices, and ethical business conduct.
"EcoVadis's relevance to the EV industry cannot be overstated, as it offers a transparent and evidence-based framework to evaluate and communicate a company's commitment to sustainability," says Nantha Chandran, Chief Sustainability Officer & VP Global Plating Operations, ENNOVI. " This continuous recognition not only reinforces our leadership position in sustainable practices within the e-mobility sector but also solidifies the trust and confidence of our customers, stakeholders, and the broader community."
For more information about ENNOVI and its EcoVadis platinum sustainability rating, please visit: www.ennovi.com/sustainability.com.
About ENNOVI:
ENNOVI, a Mobility Electrification Solutions Partner, is a world leader in designing and manufacturing customized interconnect and high-precision system solutions for electric vehicles. The company is fully dedicated to the mobility market with the agility to act at speed in realizing EV OEMs' needs, from product, process, and manufacturing, on a global level. ENNOVI is accelerating EV market customers' ideas and requirements through end-to-end competencies in battery platform, power and signal interconnect needs. Headquartered in Singapore, ENNOVI has more than 8,000 employees across 15 locations globally, where all its activities are socially responsible, with minimal environmental impact. ENNOVI. Electrify faster. Learn more at www.ennovi.com.
Press Contacts:
ENNOVI
Selvan Wilhelm
[email protected]
Agency Contact:
Publitek US
Erin McMahon
[email protected]
Publitek Germany
Carsten Otte
[email protected]
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https://www.prnewswire.com/in/news-releases/ennovi-achieves-prestigious-ecovadis-platinum-sustainability-rating-for-unprecedented-fourth-year-302146797.html
| 2024-05-20T22:21:43
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Ferretti's first-quarter performance shines, with the new shipyard put into operation
MILAN, May 19, 2024 /PRNewswire/ -- On May 16, 2024, local time in Italy, Ferretti Group Chairman Tan Xuguang hosted an on-site meeting of the Italian Ferretti company's board of directors at Milan headquarters, fully affirmed the continuous growth of the company's performance in the first quarter, and claimed to comprehensively build up a sustainable and high-quality operational competitive advantage.
In 2012, Weichai Group strategically reorganized the Italian Ferretti Group, which was on the verge of bankruptcy, saving Italy's "crown jewel" and more than 2,000 Italian families. After 12 years of strategic linkage, business integration, and cultural integration, Ferretti has gone from bankruptcy and reorganization to a high-speed development track, becoming the first company in the world to be listed in Hong Kong, China and Milan, Italy! Today, Ferretti has become a stage for more than 4,000 families to gain happiness, contributing to the stable development of local Italy.
Tan Xuguang led a team to conduct an intensive investigation of the La Spezia, Ravenna Shipyard and Forli Shipyard under the Ferretti Group, and learned about product development, manufacturing, order delivery, technical transformation projects and other related situations on the spot. On the basis of thorough research, Tan Xuguang conducted face-to-face discussions with Ferretti's front-line technical, sales, production managers and employees, and delivered an impromptu keynote speech on the spot.
Weichai Group's strategic reorganization of the Italian Ferretti Group has achieved great success. Both parties have amazed the world with their heavy achievements and built a new model of Sino-Italian business cooperation.
Video - https://mma.prnewswire.com/media/2416448/Ferretti_Video.mp4
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https://www.prnewswire.com/in/news-releases/ferrettis-first-quarter-performance-shines-with-the-new-shipyard-put-into-operation-302149571.html
| 2024-05-20T22:21:49
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G-P and ADP Expand Collaboration to Simplify Global Employment
Industry innovators G-P and ADP announce enhanced partnership
BOSTON, May 16, 2024 /PRNewswire/ -- G-P (Globalization Partners), the recognized leader in the global employment market, and ADP, a leading global technology company providing human capital management (HCM) solutions, announce expanded joint efforts to deliver Global Employer of Record, Contractor and Global Payroll Solutions to organizations around the world.
In today's business landscape, companies are looking beyond borders to scale and grow. Nearly 70% of business leaders say having employees in multiple countries and leveraging the opportunities of global and remote talent is core to their business strategy according to G-P's 2023 Global Growth Report. However, navigating global growth is complex with laws and regulations surrounding payroll, labor law, tax code and employment practices specific to individual markets.
G-P delivers the industry-leading employer of record solution and global growth platform, combining SaaS-based, AI-powered technology with the largest team of HR and legal experts in the industry. Expanding collaboration, G-P and ADP will help organizations address the complexities of global growth in a way that meets their unique needs; providing best-in-class EOR, contractor and global payroll solutions that are adaptable to the needs and tech stack of individual organizations.
"Adopting G-P's best-in-class global growth and employer of record solutions along with ADP's leading global payroll solutions provides customers with unmatched stability and agility that sets a new standard for the global talent experience," said Nicole Sahin, founder and CEO, G-P.
Leveraging their respective best-in-class HR technologies for hiring, managing and paying global talent, G-P and ADP will work closely together to provide organizations access to solutions designed to alleviate the financial, HR and legal complexities of global expansion and reduce friction in hiring and managing global talent to simplify the global expansion journey for customers.
"ADP supports over a million clients of all sizes and industries across 140 countries. By combining secure and robust technology with flexible and intelligent services, we help our clients operate more efficiently and effectively as they transform their global operations. We are delighted to partner with G-P to help even more organizations in expanding into new markets and managing their global presence," said Virginia Magliulo, President of Employer Services International at ADP.
About G-P
G-P is the recognized leader of the global employment industry and has delivered world-class global compliance and workforce products designed to meet the needs of growing companies since 2012. G-P's global growth platform is driven by the G-P Meridian™ Suite of SaaS-based global employment products. G-P helps thousands of customers build and manage teams quickly and compliantly in 180+ countries without navigating legal, tax or HR issues.
G-P: Global Made Possible™
To learn more, please visit: g-p.com or connect with us via Twitter, LinkedIn, Facebook, or check out our Blog.
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https://www.prnewswire.com/in/news-releases/g-p-and-adp-expand-collaboration-to-simplify-global-employment-302147165.html
| 2024-05-20T22:21:55
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GC congratulates NatureWorks and Krungthai Bank on closing a significant financing deal for NatureWorks' Ingeo PLA Manufacturing Expansion worth 12.6 billion baht, Supporting Thailand's Ambitious Bio-Circular-Green (BCG) Strategy
BANGKOK, May 17, 2024 /PRNewswire/ -- Mr. Narongsak Jivakanun (Second from left), CEO of PTT Global Chemical Public Company Limited (GC) presided over the signing ceremony and extended his congratulations to Krungthai Bank and NatureWorks - a joint venture of GC and a leading manufacturer of polylactic acid (PLA) biopolymers made from renewable resources. This is the historic financial support from Krungthai Bank PCL, Thailand's third largest bank, to optimize the capital structure for the new fully-integrated Ingeo™️ PLA manufacturing facility in Thailand. The financing amounting to $350M USD (12,600M Baht Equivalent), is one of the singular largest loans in the bank's decades-long history to supporting loans for Green Field project in the Green/Bio businesses. It reinforces GC's core mission of operating sustainable business practices aligned with the Bio-Circular-Green Economy (BCG) Model for Thailand's sustainable development.
The funding will not only support the construction of the plant and its ongoing operations but also enables NatureWorks to be competitive in the biomaterials market, pioneering new frontiers for bioplastic applications and advancing biobased solutions with sufficient capacity to capture packaging and fiber customers across the Asia-Pacific region and the rapidly growing global market.
The NatureWorks plant, currently under construction, is the first bio-complex in Thailand, established in line with the government's BCG economic development strategy, located in Nakhon Sawan province. The project is progressing according to plan, with full-scale production expected to commence in 2025. The plant will have a PLA production capacity of 75,000 tons per year under the Ingeo™️ brand, using locally sourced sugarcane as the primary raw material from local farmers.
For more details, please visit https://www.pttgcgroup.com/en/newsroom/news/1359/
Photo - https://mma.prnewswire.com/media/2415664/Picture_of_Signing_Ceremony.jpg
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| 2024-05-20T22:22:01
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HCG Announces Major Expansion with the Establishment of Two More State-of-the-Art Comprehensive Cancer Care Centres in Bengaluru
Strategically located near fast growing prime residential neighborhoods, the two new facilities at Whitefield and North Bengaluru will offer patients the complete range of advanced cancer care
BENGALURU, India, May 17, 2024 /PRNewswire/ -- Healthcare Global Enterprises Limited (HCG) is expanding its footprint in Bengaluru with the launch of its two new state of the art, comprehensive cancer care centres in Whitefield and North Bengaluru. With this strategic expansion, India's largest cancer care network plans to extend specialized and advanced modes of cancer treatment to these two highly populated neighborhoods in the city, making them the third and fourth in its hospital network in Bengaluru. The two strategically located centres will commence operations in early 2025.
Both facilities will provide the entire spectrum of cancer care, from high precision diagnosis to personalized treatment plans, all under one roof. The Whitefield and the North Bengaluru facility with integrated and holistic cancer care will accommodate a total of 125 beds. The two additions to the HCG chain of cancer care hospitals in the city share locational advantage similar to the HCG's flagship Centre of Excellence at KR Road and Double Road with a total of 300 beds. Along with these four modern centres, HCG has three daycare centers in the residential neighborhoods of Kalyan Nagar, Malleshwaram and Banashankari. HCG plans to add two new day care centres to the city network to reduce travel time and make cancer care easily accessible to patients who need repeated treatments like chemotherapy. With the introduction of the MR LINAC radiation system in its North Bangalore facility, HCG is poised to revolutionize radiation therapy in the state. This state-of-the-art technology integrates magnetic resonance imaging (MRI) with linear accelerator (LINAC) to improve clinical outcomes, decrease side effects and reduce treatment period.
Dr. B S Ajaikumar, Executive Chairman, Healthcare Global Enterprises Limited said, "As Bengaluru evolves into a metropolis, HCG remains outcome focused on its mission to bring world-class cancer care closer to a wider population. Our new advanced centres at Whitefield and North Bengaluru are pivotal to our aim of extending our network to the local community sustainably, ensuring high-quality cancer care is accessible to all. With Bengaluru being HCG's home ground, this expansion not only reflects our deep-rooted connection to the city but also our commitment to enhancing the healthcare landscape for the benefit of the local community."
Mr Raj Gore, CEO, HealthCare Global Enterprises Ltd said, "In a sector marked by demand-supply gap and fragmentation, there exists significant potential for growth and consolidation. We are focused on expanding our reach and taking HCG's comprehensive & quality cancer care services closer to patients in and around Bengaluru. As a leading healthcare provider dedicated to excellence, we remain firm in our commitment to investing in new infrastructure, advanced treatments, and cutting-edge technology."
HCG has further reiterated its position as a leading cancer care provider in the region. HCG's present network encompasses 21 comprehensive cancer centres with 24 hospitals across India and Africa, and seven-day care centres.
About Healthcare Global Enterprises Limited:
HealthCare Global Enterprises Ltd. (HCG), headquartered in Bengaluru, is the largest provider of cancer care in India. Through its network of 21 comprehensive cancer centers across India and Africa, HCG has brought advanced cancer care to the doorstep of millions of people. HCG's comprehensive cancer centers provide expertise and advanced technologies for the effective diagnosis and treatment of cancer under one roof. Under the "Milann" brand, HCG operates 7 fertility centers.
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https://www.prnewswire.com/in/news-releases/hcg-announces-major-expansion-with-the-establishment-of-two-more-state-of-the-art-comprehensive-cancer-care-centres-in-bengaluru-302148847.html
| 2024-05-20T22:22:07
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Hisense Recognized in Fortune China's ESG Influential Listing for the Third Consecutive Year
QINGDAO, China, May 16, 2024 /PRNewswire/ -- Hisense, the global consumer electronics and appliances corporation, has been named in Fortune China's ESG Influential Listing for the third consecutive year for its outstanding efforts in environment improvement, employee care and community engagement.
'Fortune' highlighted that Hisense has established 13 National Green Factories in China, and its photovoltaic power generation projects are progressively releasing a "low-carbon dividend" with an annual power generation capacity of about 70 million kWh, of which 12.85 MW was newly-built in 2023. Today, photovoltaic power generation contributes to over 11% of Hisense's overall electricity consumption.
Hisense is advocating for the establishment of a comprehensive green and low-carbon production system that encompasses the entire energy utilization process, including research and development design, supply chain, manufacturing, sales, and after-sales, as well as recycling and comprehensive product utilization. Taking TV products as an example, the overall recycling rate of raw materials for Hisense Laser TV's has now reached 92%, and a 100-inch Laser TV can save more than half of the energy of LCD TV's of the same size. Furthermore, through more advanced and environmentally friendly design, Hisense ULED TVs have reduced the weight of their shells by 8%, resulting in a saving of 1,133.07 tons of plastic and 100 tons of steel in 2023 in comparison to 2022, whilst also improving resource utilization.
As of today, Hisense has 26 R&D centers, 34 industrial parks, and 64 overseas companies and offices worldwide. Hisense is actively establishing a global Supply Chain Management Center and utilizing overseas companies and marketing platforms to realize the synergistic benefits of overseas layout and supply chain, reduced logistics costs and energy consumption. Hisense also employs local employees, contributes tax revenue, promotes local economic and social development, and achieves altruistic and win-win results through global coordination.
As the official partner of UEFA EURO 2024™, Hisense also aims to provide football fans with an immersive game-watching experience through eco-friendly TVs, and the company will continue to adopt carbon neutral practices in its globalization strategy.
About Hisense
Hisense is a leading global home appliance and consumer electronics brand. Hisense's business covers multimedia products (with a focus on Smart TVs), home appliances, and IT intelligent information. Hisense Retains No. 2 Ranking Globally for TV Shipment in 2023. Hisense has grown rapidly, and now operates in more than 160 countries.
Photo - https://mma.prnewswire.com/media/2414696/Hisense.jpg
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https://www.prnewswire.com/in/news-releases/hisense-recognized-in-fortune-chinas-esg-influential-listing-for-the-third-consecutive-year-302147508.html
| 2024-05-20T22:22:14
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Step into the Unico Experience, crafted to spotlight the Maison's in-house chronograph movement. Participants in this digital realm can engage directly with a watchmaker to uncover Hublot's profound passion for craftsmanship and high technology in a celebration of the brand's commitment to the Art of Fusion.
NYON, Switzerland, May 17, 2024 /PRNewswire/ -- Hublot consistently pushes technological boundaries to venture into uncharted territories and share them with their esteemed collectors. The Unico Experience invites guests to immerse themselves in a captivating environment, accessible via desktop or any mobile device, where they can admire the art of manufacturing timepieces equipped with the in-house Unico chronograph movement. Throughout the journey, a virtual watchmaker will engage, explain, and share the expertise required to craft Hublot's timepieces. For select visitors, a real watchmaker will be the voice behind the digital twin, connecting live from the Manufacture in Nyon. This unique experience will be available exclusively from the 14th to the 18th of May, 2024.
Additionally, the Unico chronograph movement is intricately rendered in 3D, enabling guests to gain a comprehensive understanding of how the calibre HUB1280 operates once fully assembled.
At the end of the visit, a special configurator is accessible, allowing guests to design a bespoke timepiece powered by the Unico chronograph movement. Visitors can select from a variety of materials and sizes for the case, choose the bezel and dial colour, strap options and in turn create a fully customizable and personal watch. As a finishing detail, clients will have the opportunity to engrave the watch with a name, initial or date.
Through its ongoing partnership with Epic Games, the LVMH Group used Unreal Engine and MetaHuman technologies to humanise Hublot's craftsmanship and deliver a detailed experience that provides unprecedented insight into and agency over the art of Swiss watchmaking.
"We at Hublot are thrilled to introduce the Unico Experience, a testament to our unwavering commitment to innovation and excellence in the world of watchmaking. This immersive journey not only showcases our iconic Unico in-house chronograph movement but also offers our esteemed collectors an unprecedented opportunity to engage with our watchmakers in a digital realm. The special configurator marks an exciting milestone, allowing our guests to tailor their own unique Big Bang. This exclusive event underscores our ongoing commitment to innovation and personalized luxury experiences for our valued clients." Ricardo Guadalupe HUBLOT CEO
Hublot is a Swiss watch manufacturer founded in 1980 and based in Nyon. For its first ever timepiece, this fundamentally disruptive company combined gold with a rubber strap in a case with a design inspired by a ship's porthole (hublot in French). Thus, the Art of Fusion was born, blending tradition, innovation, craftsmanship, worlds and talents. It became the brand's aesthetic and technical signature.
This identity was strengthened in 2005 with the Big Bang, which attested to an unrivalled know-how in terms of complications, manufacture movements and state-of-the-art materials. Carbon, titanium, ceramic and sapphire have been developed on this model to technical extremes.
This ground-breaking, high-quality approach to watchmaking is summed up in its philosophy 'Be First, Unique and Different.' It gradually led to other collections with innovative designs: Classic Fusion, Spirit of Big Bang, Square Bang and Manufacture Pieces. These draw on high levels of craftsmanship, both in terms of the materials so dear to Hublot (such as Magic Gold, brightly-coloured ceramics and sapphires) and its manufacture movements (Unico chronograph, Meca-10 and high complications such as the Tourbillon, the Cathedral Minute Repeater and the specific Manufacture Pieces movements).
Hublot's world extends to powerful partnerships including football. 'Hublot Loves Football' has become the slogan at the world's biggest sporting events (such as the FIFA World CupTM, Premier League, UEFA Champions League, UEFA EUROTM) and through its ambassadors. This love of football continues in art, design, music, sport, fine dining and sailing. Lastly, Hublot's implication in joint environmental projects with SORAI and Polar Pod reflects its concern for the issues of the day.
Over 135 boutiques around the world share Hublot's fervour and values, alongside the Hublot.com e-commerce site.
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https://www.prnewswire.com/in/news-releases/hublot-unveils-a-unique-immersive-experience-302149192.html
| 2024-05-20T22:22:20
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ICANN DNS Forum: Internet Experts to Gather in Bali to Strengthen International Collaboration
Third Asia Pacific DNS Forum Runs From 23 to 24 July 2024
JAKARTA, Indonesia, May 17, 2024 /PRNewswire/ -- The Internet Corporation for Assigned Names and Numbers (ICANN) and Pengelola Nama Domain Internet Indonesia (PANDI) will hold the third Asia Pacific (APAC) Domain Name System (DNS) Forum in Bali, Indonesia, from 23 to 24 July 2024. ICANN is an international, nonprofit organization that coordinates the DNS and plays a key role in ensuring a global, interoperable, and secure Internet. PANDI is the designated country code top-level domain manager of .id.
With the theme of "Building Bridges: Strengthening Collaboration to Shape the Internet's Future," the APAC DNS Forum in Bali will convene regional and international experts to explore enhanced cooperation to seize the Internet's opportunities and tackle its challenges. As the technical backbone, the DNS supports the global Internet and the opportunities and innovations it generates. For the DNS to continue to fulfill this crucial role in the future, it depends on the cooperation of markets, technologies, and stakeholders. Without that cooperation, the globally interoperable Internet that we all take for granted may be at risk.
The envisaged expansion of the domain name sector is expected to unlock economic opportunities and remove language barriers to connect the unconnected. The Forum will explore how the APAC region can harness these opportunities and contribute to digital transformation. The impact of legislative initiatives on the Internet and the importance of the multistakeholder model of Internet governance will also be discussed.
"Aligned with this year's theme, PANDI and ICANN are building bridges between Indonesia, the global Internet ecosystem, and the regional community. Such collaboration and engagement are extremely important for the future of the Internet. This event will especially provide important discourses for Internet's future, including exploration on how we deploy and integrate Blockchain technology in relevant and contextual scope of global Internet governance," said John Sihar Simanjuntak, President, PANDI Board. "We are grateful to the Ministry of Communications and Informatics Indonesia, who are supporting the event."
With regional partners, ICANN has held DNS Forums in Africa, Eastern Europe and Central Asia, Latin America and the Caribbean, and the Middle East, all with the same goal – ICANN and global DNS community to collaborate, network, and exchange ideas about the domain name industry and the future of the Internet.
"We are proud to bring the APAC DNS Forum to Indonesia to build on the success of this regional format," said Jia-Rong Low, Vice President and Managing Director of ICANN APAC. "We are excited to analyze the opportunities and challenges the Internet has to offer for our region, and hope that the Forum becomes a thought leader event for participants to benefit from these insights."
The hybrid APAC DNS Forum 2024 will be held at The Westin Resort Nusa Dua.
Registration is now open for both in-person and virtual participation. Leading up to APAC DNS Forum 2024, four pre-event webinars will be held in June and July on topics related to the Forum's theme. The full schedule will be announced by the end of May 2024.
Sponsorship opportunities are also available. For more information on the APAC DNS Forum 2024, and to participate, please visit the event website.
About ICANN
ICANN's mission is to help ensure a stable, secure, and unified global Internet. To reach another person on the Internet, you need to type an address - a name or a number - into your computer or other device. That address must be unique, so computers know where to find each other. ICANN helps coordinate and support these unique identifiers across the world. ICANN was formed in 1998 as a nonprofit public benefit corporation with a community of participants from all over the world.
About PANDI
Pengelola Nama Domain Internet Indonesia (PANDI) was founded in 2006 and received redelegation from IANA as the Registry of .id in 2013. PANDI is an association consisting of multi-stakeholder membership including representatives of government, Internet Industry Operators, and Academics. Number of registered .id has grown to become the biggest ccTLD in Southeast Asia with 951,421 Domain Names as of 31 December 2023. The .id domain name represents Indonesia, identity, idea and more, for it has its own Domain Names Disputes Resolution managed directly by PANDI.
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4-week IIITH Product Management Summer School jointly with PLF and Hysea
For product managers, dev managers/architects, aspiring product managers, and startup founders
Organized by IIITH's MTech. Product Design and Management program faculty
HYDERABAD, India, May 16, 2024 /PRNewswire/ -- International Institute of Information Technology Hyderabad (IIITH) announced the launch of a 4-week Product Management Summer School, jointly with Product Leaders Forum (PLF) and Hyderabad Software Enterprises Association (Hysea). Registrations are open, the summer school starts on 25 May 2024.
IIITH's summer program is targeted at product managers, dev managers/architects, aspiring product managers, and startup founders. Participants will understand the nuances of product management and get equipped with the latest techniques and tools. They will also be exposed to the research world related to Product Design & Management.
Prof Raghu Reddy, Chair of the MTech program in Product Design & Management said, "This is a unique opportunity for the product management community to converge and deliberate on the trends in technology product management. A chance also to bring together academic research and industry leadership."
The innovative curriculum comprises four engaging workshops covering design thinking, product management fit, AI for program managers, and program managers for AI products. Participants will delve into hands-on activities, guided by expert faculty, and assignments for effective learning experience. It will conclude in the fifth week with a research seminar, showcasing faculty and industry leaders' insights on cutting-edge topics such as wearables, no-code/ low-code systems, and more.
The Product Leaders Forum (PLF) is an active community of Product Managers and Leaders across multiple cities. PLF and Hysea bring in the industry perspective, along with IIITH bringing in the academic research perspective. Group registrations of mid-level engineering leaders and PMs are encouraged alongside individual registrations.
Details at https://pdm.iiit.ac.in/summer-school/
About IIIT Hyderabad: The International Institute of Information Technology, Hyderabad (IIIT-H) is an autonomous research university founded in 1998 that focuses on the core areas of Information Technology, such as Computer Science, Electronics, and Communications, and their applications in other domains through inter-disciplinary research that has a greater social impact. Some of its research domains include Visual Information Technologies, Human Sciences, Language Technologies, Data Engineering, VLSI and Embedded Systems, Computer Architecture, Wireless Communications, Algorithms and Information Security, Robotics, Building Science, Earthquake Engineering, Computational Natural Sciences and Bioinformatics, Education Technologies, Power Systems, IT in Agriculture and e-Governance. Website: www.iiit.ac.in
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Masters program with few courses and a jointly advised thesis project
Designed to foster advanced research skills and drive technology led innovations
Self-paced flexible modules to accommodate the schedules of working professionals
HYDERABAD, India, May 17, 2024 /PRNewswire/ -- International Institute of Information Technology Hyderabad (IIIT-H) announced the launch of a part-time industry sponsored Master of Science (MS) by research for working professionals to foster advanced research skills and empower individuals to drive tech led innovations. Applications are open and first batch will start August 2024.
The part-time Master of Science (MS) by research program is designed to cater to the evolving needs of working professionals and the technology companies. The part-time program is structured around a long thesis project advised jointly by the company and IIIT-H faculty, with few courses to be taken alongside the foundational knowledge needed for the thesis. With bulk registration, companies can choose tech areas and advisors, as well as co-create projects with IIIT-H focusing on specific solutions company may need.
Professionals with a Science/ Engineering degree and at least 1 year of tech industry experience may apply. Participants can choose the individual courses in each semester and enrol alongside full-time students at IIIT-H over 3 years, concurrent with the thesis project. Expert mentorship and hands-on learning will ensure success in emerging tech and upskilling efforts.
Director of IIIT-H, Prof. PJ Narayanan said, "In today's world, those with expertise in the deep-end of technology will have a big edge. IIIT Hyderabad wants to facilitate employees of IT companies in Hyderabad to acquire such expertise through this thesis-oriented program. This unique industry-academia collaboration will provide opportunities for companies to take advantage of IIITH's research strengths. It also allows the professionals to gain Masters level understanding of research by enrolling in same courses as IIIT's regular students and working with the same research groups as our regular students."
The self-paced MS by Research program offers a dynamic framework to accommodate the working professionals time and work constraints.
Applications for the Autumn 2024 batch, expected to begin in August 2024, are open now. Details at https://outreach.iiit.ac.in/industryms/
About IIIT Hyderabad
The International Institute of Information Technology, Hyderabad (IIIT-H) is an autonomous research university founded in 1998 that focuses on the core areas of Information Technology, such as Computer Science, Electronics and Communications, and their applications in other domains through inter-disciplinary research that has a greater social impact. Some of its research domains include Visual Information Technologies, Human Sciences, Language Technologies, Data Engineering, VLSI and Embedded Systems, Computer Architecture, Wireless Communications, Algorithms and Information Security, Robotics, Building Science, Earthquake Engineering, Computational Natural Sciences and Bioinformatics, Education Technologies, Power Systems, IT in Agriculture and e-Governance.
Website: www.iiit.ac.in
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Introducing Bybit Web3 DEX Pro: Smart Trading, Smarter Decisions
DUBAI, UAE, May 16, 2024 /PRNewswire/ -- Bybit Web3, the Web3 division of Bybit —one of the top three global crypto exchanges by trading volume—is proud to announce the launch of Bybit Web3 DEX Pro. This revolutionary decentralized exchange platform is designed to empower traders with smart and informed tools. Bybit Web3 DEX Pro transcends typical DEX offerings, combining the benefits of DeFi with cutting-edge intelligence to create an unparalleled trading experience.
"We are thrilled to introduce Bybit Web3 DEX Pro. Combining the benefits of DeFi with the power of i-SMART intelligence, Bybit delivers an unparalleled trading experience for the Web3 community," said Emily Bao, Bybit Web3 Evangelist. Users can now access game-changing insights, empowering them to navigate the market with greater confidence and uncover market opportunities."
Elevating DEX Trading with i-SMART Technology
Bybit Web3 DEX Pro goes beyond typical CEX offerings, equipping users with the cutting-edge i-SMART data intelligence technology. This powerful suite provides a holistic view of the market, allowing users to make informed and smarter decisions:
- Influential Trader Tracking: Identify and learn from the strategies of successful traders.
- Social Check: Gain valuable insights from social media chatter to understand token sentiment.
- Market Sentiment Overview: Quickly grasp supply and demand dynamics.
- Analysis of Token Holders: See token distribution among major holders to assess market concentration.
- Real-Time Trending Indicator: Discover rising stars in the crypto world with our cutting-edge trend identification system.
- Thorough Safety Assessment: Trade with confidence thanks to in-depth security profiles of each token.
Harnessing Professional-Grade Intelligence for Superior Trading
Bybit Web3 DEX Pro empowers traders to outsmart the market by leveraging professional-grade on-chain and social intelligence. This sophisticated platform enables users to gain valuable insights from macro trends to micro movements, thereby sharpening their trading strategies. The advanced algorithms employed by Bybit Web3 DEX Pro facilitate the discovery and capitalization of emerging opportunities with unprecedented speed and accuracy.
Effortless Wallet Integration for Seamless Trading
Moreover, Bybit Web3 DEX Pro ensures seamless and powerful trading experiences through effortless wallet integration, supporting a wide range of wallets, including Cloud Wallet, Seed Phrase Wallet, Keyless Wallet, and popular third-party wallets. The platform offers an extensive selection of tokens, allowing users to trade over one million tokens across multiple blockchains.
Expansive Token Access and Cross-Chain Functionality
Additionally, DEX Pro's cross-chain functionality enables seamless execution of trades across different blockchain networks, including Solana, Base, BNB Chain, Ethereum, Polygon, Arbitrum One, Optimism, zkSync Era, Avalanche C-Chain, etc.
Bybit Web3 stands as a pioneering force in the decentralized finance landscape, equipping traders with the comprehensive tools and insights necessary to navigate and thrive in the dynamic world of DeFi.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 25 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit, please visit Bybit Web3.
About Bybit
Bybit is one of the world's top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit's Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Keypoint Intelligence and FuturePrint Announce Strategic Partnership to Advance Innovation and Global Reach in the Print Industry
FAIRFIELD, N.J. and LONDON, May 16, 2024 /PRNewswire/ -- Keypoint Intelligence, the global leader in data and market intelligence for the digital imaging industry, and FuturePrint, a recognized thought leader in the print industry with a robust digital platform that delivers a wide array of content and events tailored to industry professionals, are excited to announce a strategic partnership. This collaboration is set to advance innovation across the print industry, redefining its future by addressing pivotal topics such as digital transformation, technological innovation, sustainability, and skill shortages. With initiatives designed to make a significant impact globally, this partnership places a strategic emphasis on the European market, positioning it at the forefront of industry-wide advancements.
Anthony Sci, President and CEO of Keypoint Intelligence, commented on the partnership, saying, "Our collaboration with FuturePrint is a pivotal move to harness our combined strengths, enabling us to drive industry-wide innovation, thought leadership and provide comprehensive insights that align with the latest market trends and customer needs."
Frazer Chesterman, Co-Founder of FuturePrint, added, "'This partnership underscores our commitment as a leading voice both online and through dynamic in-person events with pioneers across the industry. It marks a significant leap in our concerted efforts to spearhead the evolution of the print sector. It enables FuturePrint to leverage the amazing value Keypoint Intelligence offers to the industry through keynote addresses at our conferences, podcasts, FuturePrint TV and distribution of their analysis and research. Working closely with Keypoint will help us to amplify our voice globally, driving innovation at the cutting edge, and directly addressing critical issues such as sustainability and skill shortage head-on. Through this collaboration, we hope that we can continue to connect the industry and shape the future direction of print'."
Key Highlights of the Partnership:
Global Innovation and Thought Leadership:
- Drives global innovation and thought leadership in print technology, enhancing outreach with extensive news, videos, and events featuring industry pioneers, accessible both virtually and in-person.
Strategic European Expansion:
- Aims to deepen market penetration and influence across Europe by tackling regional challenges and leveraging unique opportunities, reinforcing our industry leadership and shaping market trends.
Comprehensive Market Intelligence:
- Builds on continuous research and customer feedback with sharp market trend analysis, allowing for refined strategies that lead industry innovation and meet evolving demands.
Anthony Sci further noted, "Through this strategic partnership, we are committed to not just responding to but also anticipating the needs of the print industry. Our joint efforts will set new standards for what can be achieved through collaboration and innovation."
For more information about the strategic partnership between Keypoint Intelligence and FuturePrint, please contact: Nancy Byrne, VP Marketing – [email protected]
About Keypoint Intelligence
For 60 years, clients in the digital imaging industry have relied on Keypoint Intelligence for independent hands-on testing, lab data, and extensive market research to drive their product and sales success. Keypoint Intelligence has been recognized as the industry's most trusted resource for unbiased information, analysis, and awards due to decades of analyst experience.
About FuturePrint
FuturePrint is the premier network for print industry leaders and thinkers, providing global print technology news and insights through expert articles, talks, podcasts, and events. We foster innovation and collaboration, supporting industry advancement with cutting-edge content and a robust professional community. For more information, visit www.futureprint.tech or contact Elena Knight, FuturePrint, [email protected]
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KINARA CAPITAL RELEASES FY24 FINANCIAL YEAR RESULTS; RECORDS 9th CONSECUTIVE YEAR OF PROFITABILITY
YoY Profit Increase by 51% and Revenue Increase by 47% puts the Fintech on the Growth Path to Cross USD $100 Million in Revenues in FY25
BENGALURU, India, May 16, 2024 /PRNewswire/ -- Kinara Capital, India's fast-growing fintech driving MSME financial inclusion, today reported its FY24 financial year results marking it as the organization's 9th consecutive year of profitability.
Closing the year with profit after tax (PAT) of INR 62 crores, a 51% year-over-year (YoY) jump, has further demonstrated the viability of Kinara's unique business model of blending technology with omnichannel customer service. In FY24, Kinara Capital marked YoY revenue growth of 47% with revenues totaling INR 723 crores, while the operational expenses (OpEx) as a percentage of the AUM decreased by 32%, thus further boosting the annual profits. Kinara Capital's loan book grew by 26% in FY24 YoY with its year-end assets under management (AUM) recorded at INR 3,142 crores.
Specializing in providing formal credit without property collateral to support India's small business entrepreneurs, Kinara Capital is purposefully focused on financial inclusion of the micro-small-medium-enterprise (MSME) sector. Easing access to credit with its multilingual myKinara App, the fintech NBFC disbursed more than 26,343 new business loans in the last year leading to a 35% YoY increase in the number of loans disbursed. In FY24, Kinara's active MSME customer base increased by 30% YoY, while there was a marked 42% YoY increase in its active customer base of women-owned MSMEs.
Hardika Shah, Founder & CEO, Kinara Capital, said, "Our resilient business model and our unwavering eye on the mission of financial inclusion has led to nearly a decade of growth and consecutive profitability. In FY24, beyond our high-touch and high-tech model, we also expanded our reach to MSMEs in other states with embedded finance solutions through partnerships. Looking ahead, we are excited as we set our sights on supporting thousands more MSMEs, doubling our AUM by FY26 and crossing the USD $100 million mark in revenues in FY25."
In its first year of partnerships, Kinara Capital disbursed over INR 100 crores in FY24, indicating a vast opportunity ahead for new partnerships. Kinara Capital currently has 133 branches in regions representing approximately 70% of India's manufacturing output. Thus, the growth plans for the future will be anchored on Kinara penetrating further into existing geographies via its branch-led model and reaching new MSMEs via its partnerships model. The fintech will also bolster its technology prowess with strategic long-term investment in its in-house tech to create Lending-as-a-Service (LaaS) set of customizable APIs in order to integrate with more partners in the future.
Since its inception, Kinara Capital has cumulatively disbursed more than INR 6,700+ crores across over 1.2 lakh number of collateral-free business loans leading to job creation and income generation in local economies. Overall, the AUM of Kinara Capital has grown at a CAGR of 51% over the past 3 years, indicating a thriving landscape for MSME financial inclusion.
About Kinara Capital
Kinara Capital is a fast-growing fintech dedicated to the last-mile financial inclusion of small business entrepreneurs in India. In 2024, Kinara Capital ranked on the FT500 list from Financial Times of 'Top 500 High-Growth Companies in Asia-Pacific' for the 5th consecutive year. Led by the visionary Founder & CEO Hardika Shah, Kinara Capital is noted among the '40 Fastest-growing Fintechs in Asia.' Qualified as a 'Systemically Important Non-Banking Financial Company (NBFC)' by the Reserve Bank of India (RBI), Kinara Capital holds a 'BBB Positive' rating from ICRA, and 'BBB+ Stable' ratings from CARE and India Ratings. Kinara Capital is also a debt-listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, and headquartered in Bengaluru, Kinara Capital has a workforce of 2,000+ employees. Visit https://kinaracapital.com/ for more information and follow us on LinkedIn.
This press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements.
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LemFi Now Enables Instant, Low-cost Payment Transfer Services to India
LemFi launches India services from Canada and UK, and soon from the US, offering zero transaction fees forever and the best exchange rates
MUMBAI, India, LONDON and SAN FRANCISCO, May 16, 2024 /PRNewswire/ -- LemFi, a leading fintech platform transforming financial services for immigrants, today announced that its international payment services are now available from Canada and the United Kingdom to India and will be available from the US to India later this year. LemFi offers instant international transfers at the best exchange rates with zero fees on transfers or account maintenance.
Every year, millions of immigrants relocate to countries across the globe in pursuit of new beginnings. One of the first and biggest obstacles they encounter is accessing financial services. In 2020, LemFi created a platform to help make living abroad easier for immigrants, enabling straightforward remittance payments to Africa. Since then, LemFi further expanded its offering to additional countries in Africa, Asia and Europe from the US, UK and Canada.
Today, for those who have recently claimed residency in a new country, LemFi can enable instant payments to be sent to India and 21 other countries.
"We are very excited to launch the new India service which will enable the Indian diaspora in the US, UK and Canada to send instant remittances to their loved ones back home with zero transfer fees and unbeatable exchange rates," said Philip Daniel, Head of Global Expansion & India, LemFi. "With India being the largest recipient of remittances (estimated at 125 billion USD in 2023) our ambition is to launch our India service from markets like Europe and the Middle East in the future and establish LemFi's position as the preferred partner for the Indian population living abroad for their cross-border payment requirements."
About LemFi
LemFi is the preferred international payment app for everyone. Send money to India, China, Pakistan, Nigeria, Ghana, Kenya and 16 other countries. Receive and manage your money without stress.
For more information, please visit: https://www.lemfi.com/.
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LyondellBasell Adds New South East European Distribution Hub for Improved Customer Experience
ROTTERDAM, Netherlands, May 16, 2024 /PRNewswire/ -- LyondellBasell, a global leader in the chemical industry, is proud to announce the establishment of a new distribution hub in Hungary for its polyolefins grades. This move is part of our ongoing commitment, also illustrated by the opening of the UK hub in November 2023, to enhancing the customer experience by placing inventories closer to our customers' facilities reducing lead times on orders.
This distribution hub in Hungary is an important addition to the LyondellBasell global footprint. In addition to our existing distribution platforms, this new hub signifies a significant step forward in providing our customers with faster access to our products.
The creation of this new hub in Hungary is the result of a collaborative effort with logistics expert Maersk, who has a long-standing reputation for excellence in the field. The hub will be strategically located in Budapest, ensuring optimized distribution and swift delivery.
Erik Mezger, commercial manager Polymers, commented, "LyondellBasell is committed to delivering exceptional service and that's why we're excited to announce the opening of a new distribution hub in Hungary. This expansion will mean shorter lead times and even better service for our customers. Additionally, it enables us to further leverage our global asset footprint network so that we can ensure that our customers get the products they need, when they need them."
"We are proud to support LyondellBasell with a tailor-made warehousing solution which reduces the lead time for their deliveries significantly," says Patrick Hore, global vertical head of chemicals at Maersk. "Providing decentralized warehousing solutions instead of distributing out of a single large distribution center across a whole continent is part of our offering as an integrator of global logistics. With our growing network of around 470 warehouses across all continents and our control of logistics assets like vessels, terminals, aircraft and truck fleets, we are able to offer our customers more reliable and resilient cargo flows even in disruptive times."
For more information about this new distribution hub or any other inquiries, we encourage customers to reach out to their respective LyondellBasell sales representatives.
About LyondellBasell
We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
About Maersk
A.P. Moller - Maersk is an integrated logistics company working to connect and simplify its customers' supply chains. As a global leader in logistics services, the company operates in 130 countries and employs more than 100,000 people. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.
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Manipal Hospital Whitefield Organizes 3rd Edition of Bangalore Shoulder Summit 2024
An Educational Initiative Dedicated to Shoulder Surgery and Physiotherapy
BENGALURU, India, May 16, 2024 /PRNewswire/ -- The 3rd annual edition of the "Bangalore Shoulder Summit 2024" – aprestigious national-level conference dedicated to shoulder surgery and physiotherapy, was held from 4th to 6th May 2024. This three-day event was organized by Dr. Ayyappan V Nair, Consultant - Shoulder Surgery, Sports Medicine & Arthroscopy, Manipal Hospital Whitefield garnered immense appreciation and acclaim from the medical fraternity.
Supported by national and state-level arthroscopic societies and associations, the conference received official representation from esteemed organizations - the Indian Arthroscopy Society, the Shoulder and Elbow Society of India, the Karnataka Orthopaedic Association, and the Bangalore Orthopaedics Society. Mr. Prasanth Nair, IAS, Special Secretary, Government of Kerala - Department of Agriculture Development and Farmer's Welfare, graced the event as the chief guest. The eminent leadership from the hospital was present, supporting this prestigious conference.
The summit witnessed the footfall of over 350 shoulder surgeons and 100 physiotherapists from across the nation. International delegates and many Indian shoulder surgeons of international fame, including Dr. Ashish Gupta (Australia), Dr. Philip Landreau (Dubai), and Dr. Andy Wee (Singapore), conducted in-depth discussions, hands-on shoulder trauma training, and performed surgeries, enriching the knowledge and skills of attendees.
The conference featured 8 cadaver-based shoulder arthroscopic surgeries, offering hands-on experience to participants. Shoulder surgeons and physiotherapists were infused with paradigm-shifting techniques and knowledge that would not only percolate in their practice but also improve patient care.
Dr. Ayyappan V Nair , the visionary behind the summit, expressed his delight at the overwhelming response and emphasized the mission to empower experts with shoulder surgery education. "The intent behind the program is to make shoulder surgery as well as physiotherapy and rehabilitation more accessible and popular among medical professionals. With the success of our third annual edition, we are closer to realizing this vision," he remarked.
With keynote speeches, scientific commitments, and interactive sessions, the summit emerged as an environment for learning and collaboration, with organizers and participants alike looking forward to furthering the frontiers of shoulder surgery in the years to come.
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Mobile Internet Adoption Accelerates Among Women in LMICs, but Further Action is Needed to Close the Gender Gap: GSMA
1.5 billion women in LMICs now use mobile internet, 785 million remain unconnected
LONDON, May 16, 2024 /PRNewswire/ -- More women in low- and middle-income countries (LMICs) are using mobile internet than ever before, 1.5 billion (66%) in total. In 2023, an additional 120 million women connected to the internet via mobile. Mobile remains the primary – and often only – way people in LMICs access the internet, accounting for 84% of broadband connections in 2023. However, an alarming 785 million women remain unconnected, with approximately 60% residing in South Asia and Sub-Saharan Africa. This is according to the annual 'Mobile Gender Gap Report 2024' by the GSMA today.
The seventh edition of the report examines data on women's mobile access and use across 12 LMICs[1], the barriers they face and how this compares with men. The report is funded by the UK Foreign, Commonwealth and Development Office (FCDO) and the Swedish International Development Cooperation Agency (Sida) via the GSMA Mobile for Development Foundation, with research funded in part by the Bill & Melinda Gates Foundation. It provides stakeholders with recommendations to reduce the gender gap in mobile ownership and use, to unlock socio-economic benefits for women everywhere.
The 2024 report reveals a shift in the gender gap. The gender gap in mobile internet adoption across LMICs has narrowed. Compared with 2022, women are now 15% (19% in 2022) less likely than men to use mobile internet, bringing the gap back to its pre-pandemic level. Notable changes in India and Indonesia drove this year's shift where women's rate of adoption exceeded men's. While in Sub-Saharan Africa the gender gap narrowed slightly for the first time in five years.
The gender gap persists across internet use cases
Across LMICs, there are now 1.4 billion women who own a smartphone, meaning that 60% of women now own a smartphone device. In 2023, the gender gap in smartphone ownership narrowed slightly from 15% to 13% across LMICs, driven primarily by progress in South Asia. However, 40% of women in LMICs still do not own a smartphone compared to 31% of men.
[1] Egypt, Ethiopia, Kenya, Nigeria, Senegal, Uganda, Bangladesh, India, Indonesia, Pakistan, Guatemala, and Mexico
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Moldova Innovation Technology Park Unveils Comprehensive IT Investment Guide Highlighting Tech Potential
CHISINAU, Moldova, May 16, 2024 /PRNewswire/ -- Moldova is positioning itself as a rising tech hub with the release of the "IT Investment Guide for Moldova", prepared by Emerging Europe. This guide provides detailed insights into Moldova's dynamic IT sector, showcasing strategic advantages, opportunities, and incentives for investors.
The Moldova Innovation Technology Park (MITP) is central to this transformation, driving the nation's digital agenda and fostering a robust innovation ecosystem. Hosting over 21,190 IT specialists, MITP significantly contributes to Moldova's GDP and IT exports.
Key Advantages of MITP:
- Single Tax Rate: MITP residents enjoy a single tax rate of 7%, replacing the entire tax burden for companies and employees.
- Zero Corporate Income Tax: Resident companies are exempt from corporate income tax, local taxes, real estate, and road taxes.
- Work Permits: The IT Visa Programme offers four-year work permits for top managers and two-year permits for IT specialists and their families.
- Talent and Education: Moldova has a strong pool of IT graduates, supported by leading universities and training programs.
Growth and Achievements:
Moldova's IT sector has shown remarkable growth and resilience. Between 2016 and 2022, the sector achieved a 37.1% annual revenue growth rate and a 40% annual growth in IT exports. The IT sector now constitutes a significant part of Moldova's economy, with MITP accounting for about 80% of the sector and five percent of the nation's exports.
The guide highlights success stories of international and local companies thriving in Moldova's business environment, including Amdaris, Endava, Bloomcoding, and Crunchyroll. These companies have leveraged MITP's benefits to expand and innovate in their respective fields.
Strategic Positioning:
Moldova's alignment with the European Union's Digital Transformation Strategy enhances its appeal to investors. The country's commitment to digitalization is evident in its advanced public services and robust infrastructure. Moldova ranks highly in the IT Competitiveness Index, surpassing many regional peers in talent availability, business environment, and economic impact.
A Promising Future:
Moldova's digital transformation strategy aims for 100% digitalization of public services, setting a high standard for tech-driven economic development. For investors and businesses exploring opportunities in Eastern Europe, Moldova offers a compelling proposition. The "IT Investment Guide for Moldova" showcases the country's achievements and serves as a roadmap to its digital future.
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More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world's largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world's largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.
The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects' creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle's new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
"Congratulations to the Regeneron International Science and Engineering Fair 2024 winners," said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. "I'm truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder."
Regeneron ISEF provides a global stage for the world's best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
"The talent, intelligence and potential of this year's Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements," said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. "Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity."
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles' diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including "First Award" winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for Science
Maddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for Science
Andrew Y. Liang, San Jose, California
Biochemistry, sponsored by Regeneron
Amy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by Regeneron
Ria Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann Charities
Ayush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by Regeneron
Lara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for Science
Akilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D'costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by Regeneron
Kun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.org
Nikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HP
Chloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens Energy
Alia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace Foundation
Chiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by Jacobs
Krish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace Foundation
Grace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai Foundation
Anna Oliva, Houston, Texas
Microbiology, sponsored by Schattner Foundation
Matthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust II
Harini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for Science
Pauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by Regeneron
Michal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by Microsoft
Michelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for Science
Anant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by Regeneron
Zheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists' research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering Fair
The Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world's largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for Science
Society for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About Regeneron
Regeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most "community-minded" companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media Contacts
Joseph Brown, Regeneron
[email protected]
Gayle Kansagor, Society for Science
[email protected]
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NEW DELHI, May 17, 2024 /PRNewswire/ -- In a groundbreaking move toward holistic wellness, MuscleBlaze, a pioneer in the fitness and nutrition industry, proudly announces the launch of Koshaveda, an innovative brand at the intersection of Ayurveda and modern science. Koshaveda aims to empower individuals to achieve their peak performance through a range of meticulously crafted products that harness the power of ancient Ayurvedic principles, combined with cutting-edge scientific research.
Ancient Wisdom & Scientific Innovation Fuelling Untamed Power
Koshaveda represents a harmonious blend of tradition and innovation, drawing from centuries-old Ayurvedic practices while integrating the latest advancements in scientific research. Each product is carefully formulated to deliver tangible results, catering to the diverse wellness needs of modern-day individuals.
Evolve with Ayurveda: Unlock Peak Potential with Koshaveda
At the core of Koshaveda's philosophy lies the belief that true wellness is a journey toward peak performance in all aspects of life. Whether it's enhancing physical strength, improving mental clarity, or achieving inner balance, Koshaveda offers a comprehensive range of products designed to support individuals in their pursuit of optimal well-being.
Delivering Koshaveda's Wellness Mastery, Conveniently
The Koshaveda product range includes a variety of supplements and health products, each meticulously crafted to deliver the benefits of Ayurvedic herbs and ingredients conveniently and effectively. From traditional formulations like Ashwagandha and Shilajit to innovative products like T-Surge (a testosterone booster) and Prash Pro (a blend of 6 powerful Ayurvedic blends), Koshaveda aims to cater to the diverse needs of today's health-conscious consumers.
Expert Testimony: Unveiling the Essence of Ayurveda
Koshaveda's commitment to authenticity is reflected in its use of premium-quality ingredients sourced from nature's bounty. From potent herbs and botanical extracts to trace minerals, every component is selected for its proven efficacy and traditional significance in Ayurvedic healing practices.
"We are thrilled to introduce Koshaveda to the world," says Kaustuv Paliwal, Sr. Vice President, MuscleBlaze. "With Koshaveda, we aim to bridge the gap between ancient wisdom and modern science, offering our customers the best of both worlds. We believe that everyone deserves to experience the transformative power of Ayurveda, and Koshaveda is our way of making that possible."
Purity. Power. Results. Experience the Koshaveda Difference
As a brand dedicated to empowering individuals on their wellness journey, Koshaveda prioritizes transparency and integrity in all its operations. Each product is backed by scientific research and manufactured in state-of-the-art facilities, the range is NABL-certified, AYUSH-approved, and GMP-certified, adhering to strict quality control measures to deliver unparalleled excellence.
A Wellness Game Changer
With the launch of Koshaveda, MuscleBlaze invites individuals to embark on a transformative journey towards holistic wellness. Whether one is an athlete striving for peak performance or a wellness enthusiast seeking balance and vitality, Koshaveda promises to be a trusted companion in achieving one's goals.
Join the Koshaveda Revolution
Explore the full range of Koshaveda products and embark on a journey towards optimal wellness today. Visit Koshaveda's product range to discover the perfect fusion of ancient wisdom and modern science.
For more information, please visit: https://www.muscleblaze.com/.
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- Records Profit of 1,256 Crore for FY24
- Nava Debt-Free at Consolidated and Standalone Level
- INR 2621.1 Crore (USD$314.4 Mn) Debt Repaid in Full at MCL
- Board Declares Final Dividend of 200% (Rs. 4 per share) for FY24
HYDERABAD, India, May 17, 2024 /PRNewswire/ -- NAVA Limited, a leading multinational conglomerate has announced impressive financial results for the fourth quarter and for fiscal year 2024. The company showcased an improved financial performance at standalone level during the quarter, marked by total debt repayment at Maamba Collieries Limited (MCL), its step-down subsidiary. The company has recorded highest ever Annual Earnings Per Share (EPS) of Rs. 65.04/-.
Key Highlights –
- Improved free cash flows and consistent financial growth across all business verticals generating substantial reserves for future growth capital and corporate actions to enhance shareholder value.
- Consolidated financials demonstrated sustained revenue and profitability during the year, achieving total Income of INR 3,955.0 crore and PAT of INR 1,256.1 crore for the financial year.
- The long-term debt at MCL amounting to INR 2621.1 crore (US$ 314.4 Mn) has been fully repaid during the current FY. This will enable distribution of future free cashflows to its sponsors, from FY25 onwards.
- Energy vertical has improved financial performance with the operations of Nava Bharat Energy India Limited's (NBEIL) 150 MW power plant throughout the year. NBEIL has witnessed turnaround with PBT of Rs. 115.8 Crore for FY 2024.
- Ferro Alloys turnover has improved during the quarter with higher sales quantity and uptick in the realisation prices.
- Mining division reported a revenue growth of 21.2% and PBT growth of 165% for FY 2024, driven by improved sales quantities and lower finance costs
Consolidated Performance – Q4 & FY24
MCL:
- MCL maintained its revenue and profitability levels compared to last FY. Improved sales from mining division has contributed for sustaining the overall profitability.
- Total loan repayment during the current year was INR 2621.1 Crore (US$ 314.4 Mn). MCL has prepaid 6 loan instalments amounting to INR 1475.7 Crore (US$ 177.0 Mn) ahead of schedule.
- Mining division has reported healthy growth with operating revenue of INR 447.9 Crore (US$ 54.1 Mn), an increase by 21.2% and PBT of INR 119.2 Crore (US$ 14.4 Mn, an increase of 165% for FY 2024, compared to previous FY.
NBEIL:
- Energy division revenue registered a growth of 13.2% for FY 2024 compared to the last FY, which is attributed to improved operational parameters of NBEIL's 150 MW power plant.
- NBEIL's power plant operated at a healthy PLF of 63.7% during the year, compared to 18.8% for FY 2023, aided by increased demand for power and availability of bilateral contracts. The Company reported a total revenue of INR 575.2 Crore and PBT of INR 115.8 Crore for the year significantly improving the financial position
- NBEIL repaid its inter group debt by INR 63.9 Crore during the year and further aiming to become debt free by June 2024. The reduction in finance costs will result in reduction of cost of generation of power, thus increasing the competitive participation to sell power at lower tariffs.
Standalone Performance – Q4 & FY24
- Ferro Alloys division for the quarter has witnessed a revenue growth of 45.3% compared to Dec 2023, while the PBT was INR -4.4 Crore Vs INR -34.2 Crore for Dec 2023.
- At Telangana Operations, the Company diversified into production of Ferro Silicon Alloys from one furnace during the quarter.
- FAP production at Odisha Operations has stabilised and successfully negotiated, reducing the fixed costs and thereby increasing the competitiveness.
- Energy segment achieved 36.3% PBT growth compared to the last FY, driven by better tariffs supported by bilateral contracts, operational excellence in the 150 MW power plants at Odisha Operations.
Projects
- MCL is actively evaluating Phase II expansion by additional 300 MW
- Project launch is to happen post Financial Closure
Magnetite Ore Exploration
- Maamba Collieries Limited (MCL) has a subsisting Small Scale Mining License for Magnetite ore in the Central Province of Zambia. A recent Magnetic Survey of the licensed area has revealed the prevalence of high-quality Magnetite ore, amenable for wide usage.
- The survey has also indicated continuity of ore beyond the licensed area, suggestive of large resource.
- In this context, MCL has sought and obtained approval of the Government for additional mining rights taking the total licensed area to about 323 Ha.
- MCL proposes to carry out detailed exploration of the licensed area over the next one year to ascertain the mineable resources and extractable reserves for commercial exploitation following which a business plan will be drawn up.
Cote d'Ivoire Operations
- The exploration studies of the Manganese Ore mine in Cote d'Ivoire have confirmed that the presence of Manganese is limited in this mining area, and is not economically viable for commercial exploitation. The Company is in an advanced stage of obtaining an exploration permit for an alternate Manganese ore mine within the country. In parallel we are conducting techno-commercial studies for setting up of an integrated ferro alloys plant in Cote d'Ivoire.
Agribusiness
- Nava Avocado Limited has planted 75,000+ trees in 225 hectares as on date and further has 20,000+ tress in the nursery, will be planted in the coming two months, to complete Division A of 275Ha. The growth of the planted trees is good and constant with yield expectation in the next 2 years.
- Orders have been placed for 100,000 tress, to be planted in 275 hectares by March 25 for Division B, deliveries are expected to begin from the second half of the calendar year.
Mr. Ashwin Devineni, CEO, NAVA Limited, expressed his satisfaction with the company's performance for FY24, stating, "A long-term debt-free position at Standalone and group level in indeed a commendable status for the company. Our standalone profit for the quarter has increased by 55% compared to Dec 2023. Clearing a debt of $314.4 Mn, more than 2.5 years ahead of schedule, is a clear indication of the progress we are making as a stable organization. All our divisions have seen a healthy growth and I am delighted to see the efforts paying off. With the highest-ever annual earnings per share (EPS), I can foresee promising opportunities for growth and value to stakeholders."
Quantitative Table of Operational data (sales in Qty)
About Nava Limited
Nava Limited founded in 1972, is a listed MNC with business interests in metals, energy, mining, healthcare and commercial agriculture. Nava is one of the leading Ferroalloy producers in India, with about 175,000 MT capacity per annum. Besides India, Nava operates Zambia's largest mine-to-mouth powerplant. As a multinational company today, Nava is investing into commercial agriculture with one of the largest avocado plantations in Zambia and into emerging businesses such as Healthcare in South-East Asia, creating a strong global footprint. For more information about the Company and its businesses, please visit www.navalimited.com
Media Relations for Nava Limited:
Ms. Lisa Rufus G.
Ph: +91 91542 40656
For More Information, Contact:
Mr. VSN Raju
Company Secretary and Vice President
Nava Limited
Tel: +91 40 23403501/+91 40 67283333
mail id: [email protected]
Nava will host a conference call to discuss the quarterly financial results in detail on the 17th of May 2024 at 15.45 (IST). Investors and others may visit our website for more details.
Note: This document may contain forward-looking statements about the Company & its subsidiaries, which are based on the beliefs, opinions and expectations of the Company's management as of the date of this press release. The company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements. The information provided in this press release is based on the financial data available at the time of drafting. Any updates or revisions to the financial results may not be reflected in this document. Please refer to the official financial statements and disclosures released by NAVA LIMITED for the most accurate and up-to-date information.
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New Clarivate Report Reveals that the U.S., Germany and Mainland China have the most Non-Practicing Entity Litigation
Infringement declined globally from 2012 to 2019
LONDON, May 16, 2024 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, today released the 2024 Non-Practicing Entity Global Litigation (NPE) Report to analyze NPE enforcement activities and their patent validity challenges across the globe. The report revealed that the United States, Germany and Mainland China are the three countries and regions with the most infringement cases filed by NPEs.
For this report, NPE is defined as an independent legal organization which owns or benefits from patent rights but does not sell or manufacture goods or provide goods-related services. Using the Clarivate Darts-ipTM database of patent case law, this report showed that among the countries and regions where most of infringement cases are filed by NPEs between 2018-2023, the U.S. accounts for 97.2% of the total, while Germany and Mainland China count for 1.8% and 0.4% respectively. However, the growth momentum differs in the top three countries when comparing 2012-2017 to 2018-2023. There was a 43% decrease in the number of U.S. NPE infringement cases, while the number in Mainland China increased 600% and Germany saw a strong decline starting in 2018.
This report showed that during 2012-2017, there was an undeniable trend of increasing patent validity challenges overall and of patent validity challenges filed against NPEs worldwide. While overall patent validity challenges slightly increased during 2018-2023, the number of patent validity challenges filed against NPEs worldwide slightly decreased.
Francois Neuville, Senior Vice President, Brand IP, Clarivate, said, "NPEs should now be considered as part of the patent ecosystem. These entities seek out courts where they can further monetize the value of their IP assets, using litigation as both leverage and means. As NPE litigation continues to evolve worldwide, analyzing trends using enriched data and insights can help support informed decisions for the future."
Other key findings in the report include:
- Overall, infringement action filed by NPEs declined globally from 2012 to 2019. Starting in 2020, NPE infringement cases began to stabilize at around 2,000 per year.
- NPEs are well known for being active in Information and Communication Technologies (i.e. digital communication, telecommunications, computer technology and audio-visual technology). These technologies account for 64% of the patents asserted by NPEs in the U.S. and for 74% of the patents asserted by NPEs in EU.
- Patents belonging to NPEs are being invalidated at greater frequency than non-NPEs. This may indicate that the NPEs are facing patent quality challenges.
Learn more about NPE litigation worldwide trends here.
Methodology
For this report, we consider NPEs to be independent organizations (legal entities) which own or benefit from patent rights but do not sell or manufacture goods or services associated with them (i.e., non-operating companies) and which have an active (offensive) assertion or litigation role as plaintiffs towards the enforcement of their patent rights. Read our full methodology here.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media contact
Jack Wan
External Communications Director
[email protected]
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This new collection of 74 exclusive new decors comprises of 6 dynamic new textures, 17 abstracts, 28 solids & 29 woodgrains.
NEW DELHI, May 17, 2024 /PRNewswire/ -- Greenlam Industries Ltd. among the top 3 manufacturers in surfacing solutions, has a rich legacy of transforming interior and exterior spaces. Upholding this tradition, NewMika, a brand of New-Age Laminates under the Greenlam Industries, recently launched its latest 1.25mm collection through a launch event for channel partners at Hotel Pride Plaza, Aerocity, New Delhi.
Targeted for the younger generation, the NewMika 1.25mm collection is a harmonious blend of innovation and style, with inspiration from nature, architecture, and contemporary trends. The 74 exclusive new decors, comprising of 6 dynamic new textures, 17 abstracts, 28 solids and 29 woodgrains embody inspiration, fuse artistry with functionality, and provide a canvas for customers to express their style and evoke emotions.
From Altos' unique groove pattern that enhances visual allure to Lara's versatile design that complements a wide range of interior styles, each texture is precisely crafted with endless possibility for customization and creativity. Emboss sets a new standard for realism with its woodgrain replication, while Duo combines the luxurious feel of suede with the classic sophistication of a chevron pattern. Shale captures the essence of rugged elegance with its deep embossed stone texture, and Wave invites you to immerse yourself in its mesmerizing pattern. Each texture offers a unique tactile experience, transforming your living space into a haven of sophistication, tranquillity, or artistic expression.
Besides aesthetic appeal, the NewMika 1.25mm collection brings functional benefits such as low maintenance cost, time-saving installation, minimized on-site disruption and cost-effectiveness. The collection caters to the ready-to-use panelling products and aligns with evolving market trends, with sustainability at its core. These also come with several distinct properties which include properties such as antibacterial, crack, scratch, dry heat and stain resistant, among many others.
Commenting on the latest launch, Ms. Parul Mittal, Director, Greenlam Industries said, "We are proud to introduce the latest NewMika 1.25mm collection, which is set to revolutionize the surfacing solutions industry. We identified that people prefer deep textures in thick laminates, resulting in a stunning appearance. Drawing inspiration from all over the world, our collection empowers customers to showcase their unique style and personality through their living spaces. We firmly believe that each piece in this collection has the ability to stir emotions and turn any space into a reflection of its owner's individuality. We are excited to see the transformative impact this collection will have on interior spaces and the people who inhabit them."
About Greenlam Industries
Greenlam is among the world's top 3, Asia's largest and India's No. 1 surfacing solutions brand. With its presence in over 100 countries, Greenlam has focused on developing quality products with a great passion for innovation. It offers end-to-end surfacing solutions spread across decorative laminates, compact laminates, interior and exterior clads, restroom cubicles & locker solutions, decorative veneers, engineered wooden floors and doors and plywood.
Greenlam Group, with five state-of-the-art manufacturing facilities in India located at Behror (Rajasthan), Nalagarh (Himachal Pradesh), Prantij (Gujarat), Tindivanam (Tamil Nadu), and Naidupeta (Andhra Pradesh) is the first choice of architects, interior designers, and homeowners when it comes to transforming living spaces.
Greenlam aims and acts to save and preserve nature in its pristine form by ethical sourcing of its raw materials from the world over. Coupled with this, the products are FSC®, PEFC™, Greenguard Gold, Greenguard, GreenLabel (Singapore), GRIHA, GreenPro, NSF certified and are Anti-bacterial, thereby ensuring they are environment friendly and safe to use. With its extensive presence of sales teams and channel partners globally, Greenlam is just a call away to give your spaces a fresh look.
For more information, please visit us at: https://www.greenlamindustries.com/.
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Over 10 innovative CDBC card services launched in six months on OpenWay's Way4 system
ALMATY, Kazakhstan, May 16, 2024 /PRNewswire/ -- In just 6 months after Kazakhstan launched the digital tenge, its Central Bank Digital Currency, over 10 innovative CBDC card services have become available to the country's population of 20 million. Altyn Bank, Eurasian Bank and Halyk Bank leveraged the Way4 digital payments software system to swiftly join this CBDC project and onboard 72% of early adopters of digital tenge cards. The digital tenge footprint is expanding, with 36 new use cases in its roadmap for 2024 and 2025, according to Kazakhstan's National Payment Corporation.
Bank customers in Kazakhstan can apply for virtual and plastic CBDC cards and use them for both in-store and e-commerce purchases across Mastercard and Visa global networks. Additionally, they can withdraw cash at ATMs, link their cards to Google Pay, Apple Pay and Samsung Pay, monitor their CBDC card balance and transaction history through mobile banking; and access other related services.
More than 130 countries are actively researching or implementing CBDC. While most CBDC transactions are conducted through web and mobile interfaces, the digital tenge project offers consumers a tangible instrument for CBDC payments.
Kazakhstan's Digital Tenge project is pursuing several ambitious goals. These include intensifying cross-border trade, launching innovative social and anti-corruption initiatives, and enabling integration between CBDC and non-government DeFi platforms. Way4 powers card issuing and acquiring innovations for many members of the digital tenge ecosystem: Kazakhstan's National Payment Corporation, Eurasian Bank, Altyn Bank, Halyk Bank, and national postal service Kazpost. Assisted by their partner OW Kazakhstan, three of these payments players integrated their card processing system with the Digital Tenge platform in less than two months.
The successful integration of CBDC cards into Kazakhstan's payment ecosystem is a testament to the country's forward-thinking approach and the robustness of its banking infrastructure. Many banks here have long used OpenWay's Way4 software system to introduce ground-breaking innovations: for example, the first-ever UnionPay cards issued outside of China and the world's first mobile Visa P2P transfers.
For CBDC issuance and redemption, Kazakhstan's payment regulator selected R3's Corda platform. Supported by Way4, Corda, and other technologies, Kazakhstan is strengthening its position on the international economic stage.
For more information about Way4 and its role in CBDC transactions, please visit openwaygroup.com
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"RING OF FIRE" AVAILABLE GLOBALLY ON DAZN IN OVER 200 TERRITORIES, INCLUDING UK & US
LONDON, May 17, 2024 /PRNewswire/ -- The biggest fight in boxing, this Saturday 18 May, starring WBC and Lineal Champion Tyson 'The Gypsy King' Fury vs WBO/IBF/WBA unified champion Oleksandr Usyk, is available to watch live globally only on DAZN.
RING WALK TIMINGS:
Tune in for the main broadcast at 5pm BST (6pm CET, 12pm ET) and watch the high-quality undercards build the excitement before the main event commence around 11:05pm BST (10.30 CET, 4.30 ET). See below for a 'Brief Rundown of the Card'.
SATURDAY MAY 18:
Fight 1 - DAVID NYIKA v MICHAEL SEITZ
8 x 3 Minute Rounds Cruiserweight
Fight 2 - SERGEY KOVALEV v ROBIN SIRWAN SAFAR
10 x 3 Minute Rounds Light - Heavyweight
Fight 3 – MARK CHAMBERLAIN v JOSHUA WAHAB
12 x 3 Minute Rounds Lightweight
Fight 4 – MOSES ITAUMA v IIJA MEZENCEV
10 x 3 Minute Rounds Heavyweight
Fight 5 – FRANK SANCHEZ v AGIT KABAYEL
12 x 3 Minute Rounds Heavyweight
FIGHT 6 – JOE CORDINA v ANTHONY CACACE
12 x 3 Minute Rounds Super Featherweight
FIGHT 7 – JAI OPETAIA v MAIRIS BREIDIS
10 x 3 Minute Rounds Cruiserweight
FIGHT 8 – TYSON FURY v OLEKSANDR USYK
12 x 3 Minute Rounds Heavyweight
A BRIEF RUNDOWN OF THE CARD:
- The Main event will see the biggest fight in boxing - WBC and Lineal Champion Tyson 'The Gypsy King' Fury vs WBO/IBF/WBA unified champion Oleksandr Usyk in a history-making showdown. The winner will become boxing's first Undisputed Heavyweight Champion since Britain's Lennox Lewis claimed that honour 24 years ago, in 1999, but this time four belts are on the line for the first time in history.
- The undefeated Australian Jai Opetaia will take on three-time cruiserweight world champion Mairis Briedis for the IBF world championship and Ring Magazine belt in a rematch of their exhilarating action packed 2022 encounter.
- Undefeated Welsh Olympian Joe Cordina will defend his IBF world super featherweight championship against IBO title holder, Northern Irishman Anthony Cacare.
- Unbeaten German heavyweight star Agit Kabayel faces unbeaten Cuban Frank Sanchez as both return to Riyadh following their knockout victories on the 'Day of Reckoning' card in December in a WBC Final Eliminator.
- Formidable young heavyweight star Moses Itauma, the World Amateur champion, who is tipped to become the future face of boxing's marquee division, takes on Ilja Mezencev in his ninth fight in the professional ranks at the age of just 19.
- Big punching 25-year-old UK lightweight sensation Mark Chamberlain will face the dangerous Nigerian Joshua Oluwaseun Wahab.
- Sergey Kovalev – the former long-standing light heavyweight world champion - will go up against the undefeated Robin Sirwan Safar at cruiserweight.
- Kicking off the show is New Zealand Olympian David Nyika when he faces Michael Seitz at cruiserweight.
IMAGERY:
The link contains complimentary imagery from fight week:
Please accredit Queensberry.
COMMENTARY:
As the Global Home of Boxing, DAZN is thrilled to offer localised commentary across our key markets in 10+ languages.
Our English-language commentary team is unrivalled and boasts incredible expertise and experience from across the boxing scene. This line-up of experts will make up the core commentary experience in the UK, US, Canada and other worldwide markets.
- Kate Abdo
- Ade Oladipo
- Lennox Lewis
- Joseph Parker
- Barry Jones
- Darren Barker
- Chris Mannix
- Ali Drew
- Todd Grisham
- Mike Costello
US
Commentary Language: English
DAZN Commentary Team: Kate Abdo, Ale Oladipo, Lennox Lewis etc
Main Fight Start Time: 18:05 ET
Local Fighter: Octavio Pudivitr
Canada
Commentary Language: English
DAZN Commentary Team: Kate Abdo, Ale Oladipo, Lennox Lewis etc
Main Fight Start Time: 18:05 ET
Australia
Commentary Language: English
DAZN Commentary Team: Kate Abdo, Ale Oladipo, Lennox Lewis etc
Main Fight Start Time: 08:05 AEST
Local Fighter: Jai Opetaia
New Zealand
Commentary Language: English
DAZN Commentary Team: Kate Abdo, Ale Oladipo, Lennox Lewis etc
Main Fight Start Time: 10:05 NZST
Local Fighter: David Nyika
Germany
Commentary Language: German
DAZN Commentary Team: Uli Hebel, Andreas Selak, Bernd Bönte
Main Fight Start Time: 00:05 CET
Local Fighters: Agit Kabayel, Ilja Mezencev, Michael Seitz
Italy
Commentary Language: Italian
DAZN Commentary Team: Niccolò Pavesi, Alessandro Duran, Guiseppe Albi
Main Fight Start Time: 00:05 CET
Spain
Commentary Language: Spanish
DAZN Commentary Team: Jaime Ugarte, Emilio Marquiegui, Álvaro Carrera, Tinin Rodriguez
Main Fight Start Time: 00:05 CET
France
Commentary Language: French
DAZN Commentary Team: Chris Genachte
Main Fight Start Time: 00:05 CET
Ukraine
Commentary Languages: Ukrainian/Russian
DAZN Commentary Team: Maks Didenko/ David Kuchashvili
Main Fight Start Time: 00:05 CET
Local Fighter: Oleksandr Usyk, Daniel Lapin
Portugal
Commentary Language: Portuguese
DAZN Commentary Team: Pedro Matos, Jorge Silva
Main Fight Start Time: 23:05 WET
Saudi Arabia
Commentary Language: Arabic
DAZN Commentary Team: TBC
Main Fight Start Time: 01:05 AST
Poland
Commentary Language: Polish
DAZN Commentary Team: Jan Ciosek, Albert Sosnowski
Main Fight Start Time: 00:05 CET
Belgium
Commentary Language: French
DAZN Commentary Team: Chris Genachte
Main Fight Start Time: 00:05 CET
The fight can be purchased at DAZN.com or directly from the DAZN app on smart TVs, tablets, mobiles and games consoles.
A DAZN subscription gives you access to incredible archive boxing content and documentaries as well as 150+ unrivalled live fight nights each year, other fantastic combat sports and much more.
Visit DAZN.com for more information and click here to find the PPV in your country.
This document contains all the information your readers will want to know about the upcoming Tyson Fury v Oleksandr Usyk fight night. If you require any clarification, please contact:
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Ronaldo, Ronaldinho & Agüero call out Erling Haaland after he becomes Clash of Clans character
- The Norwegian superstar footballer was announced as the Barbarian King character in Clash of Clans, one of the world's most popular mobile games with over two billion downloads
- But the legendary football players posted tongue-in-cheek reaction videos on their social channels, saying they should have been given the starring role
- Fans of Haaland can check out the game here
HELSINKI, May 17, 2024 /PRNewswire/ -- Football legends Ronaldo, Ronaldinho and Sergio Agüero have playfully called out star striker Erling Haaland online, voicing their frustrations over his major new deal with Supercell video game Clash of Clans.
The Norwegian forward has become the famous 'Barbarian King' character in the popular mobile game, but the legendary Brazilians and Argentine have claimed the deal should have been theirs - as their characters would've been a better fit.
Ronaldo, a three time FIFA player of the year and twice winner of the Ballon d'Or, said: "I can't believe they put Erling Haaland in Clash of Clans. I am Ronaldo the First! Nobody tears down defences like Ronaldo the First."
Ronaldinho, a fellow World Cup and Ballon d'Or winner, joined in the action by saying: "I know they already have a wizard in Clash of Clans, but I create even better magic with a football at my feet."
While Sergio Agüero, a Premier League and Argentina national team legend, said: "Everything I do, he does it too, whether it's breaking records or playing video games. And now he's in a game? Give me a break!"
All three said that they should have been the face of the new Clash of Clans campaign, which has seen a surge in downloads following the Norwegian's involvement. Clash of Clans and Haaland recently launched the new partnership with an epic movie-style trailer, complete with custom Haaland soundtrack.
Responding to the comments, Erling Haaland said: "These guys are all legends and I'd have them in my clan any day."
To experience the Haaland-themed event in Clash of Clans, download the game here.
About Supercell
Supercell is a game company based in Helsinki, Finland, with offices in San Francisco, Seoul, and Shanghai. Since its launch in 2010, the company has brought five games to the global market: Hay Day, Clash of Clans, Boom Beach, Clash Royale, and Brawl Stars. Supercell's dream is to create games that as many people as possible play for years and that are remembered forever.
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Rushil Decor Ltd. Strengthens Global Footprint with Expansion into South American Market
AHMEDABAD, India, May 16, 2024 /PRNewswire/ -- Rushil Decor Limited (BSE: 533470) (NSE: RUSHIL), a prominent name in the manufacturing of eco-friendly MDF, laminates, and plywood, is thrilled to announce its strategic expansion into South America. With exports already reaching over 50 countries, Rushil Decor is set to penetrate one of the largest markets for MDF globally. On the eve of Interzum Bogota, Mr. Rushil Thakkar, Executive Director at Rushil Decor expressed hope and confidence about growing with the multibillion-dollar global wood panel market. Interzum Bogota is an international industry fair for furniture and wood technology, being organised between May 14 and 17, in Colombia, South America.
As a leader in MDF manufacturing in India, Rushil Decor is well-equipped to meet the high demand in South America. The company recently posted a 9% growth in the January to March 2024 quarter compared to the same period last year. Export revenue contributed 28% to the total revenue in the fourth quarter of FY24, highlighting the company's significant international footprint. According to Precision Reports, the global MDF market was valued at USD 24,942.77 million in 2024 and is projected to reach USD 29,965.13 million by 2027.
The global laminate market is projected to reach a staggering USD 11.98 billion by 2030, presenting a remarkable growth opportunity for Rushil Decor. The company is strategically positioning itself to capitalize on this lucrative market through its upcoming greenfield project, meticulously designed to cater to the burgeoning export demand for laminates. Looking at the vibrant export opportunity that MDF presents, we will also export MDF products to the South American regions creating potent synergies across our product lines. By leveraging its expertise in both laminates and MDF, the company is well equipped to benefit from the increasing demand in this region, effectively increasing our revenue potential and further solidifying our global footprint.
Mr. Rushil Thakkar, Executive Director of Rushil Decor Limited, added, "Expanding into South America is a significant milestone for Rushil Decor. This move underscores our dedication to providing sustainable and high-quality products to new regions, meeting the evolving needs of South American customers. The 2024 edition of Interzum Bogota focuses on the circular economy, sustainability, innovation and technology and we at Rushil Decor strongly support all these values every day."
Rushil Decor's strategic expansion is part of its broader vision to achieve annual revenues of INR 2500 crores by 2029. With state-of-the-art manufacturing facilities and a strong distribution network, the company is poised to meet the increasing demands of the global market while maintaining financial stability and operational efficiency.
About Rushil Decor
Founded in 1993, Rushil Decor Limited is a globally leading company in modern interior infrastructure and eco-friendly, composite wood panels, committed to shaping a better planet. Leveraging modern technology, inspiring designs, and next-generation innovations, Rushil Decor is passionate about setting new industry standards and providing superior experiences, ensuring high productivity.
Rushil Decor operates six state-of-the-art manufacturing plants with an annual capacity of 3,30,000 CBM MDF and 3.49 million Laminates, catering to customers in more than 50 countries worldwide. The current portfolio is also extended to the manufacturing of plywood from our Chikamaglur Plant in Bengaluru. The capacity in the first year would be 300 boards per day and gradually expanding to 3000 boards. In FY'24, the company achieved revenue of INR 844 crores, with EBIDTA and PAT of INR 120 crores and INR 43 crores, respectively. With a strong network of branches, distributors, and thousands of dealers, Rushil Décor is focused on redefining the future of wood. The company's product portfolio includes VIR Laminates, VIR MDF boards, VIR MAXPRO (HDFWR) boards, VIR Pre-laminated Decorative MDF/HDFWR boards, VIR Modala Ply, VIR PVC and VIR WPC boards/doors.
What makes Rushil Decor special is its unmatched quality, design, customer-centricity, and value-led DIY green-engineered products from agroforestry. Driven by automated plants, world-class German technologies, and global standards, Rushil Decor relentlessly creates smarter spaces. Optimal supply chain efficiencies, resource utilization, and strategic local plantations offer a cost advantage in raw material sourcing and manufacturing excellence, enabling high output to meet global market demand.
For more details, please visit: www.rushil.com
For any Investor Relations query, please contact:
Mr. Parin Shah
AGM Brand Management
Rushil Decor Limited
Email: [email protected]
Mr. Mehraj Dube / Mr. Nikunj Seth
Het Choksey Advisors
Tel - +91 9871472036 / +91 9773397958
Email: [email protected]
Caution Concerning Forward-Looking Statements:
This document includes certain forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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SANY Heavy Industry Reports 2023 Earnings: Overseas Revenue Soars to 60% of Core Business Amid Market Pressures, Signaling Strong Global Expansion
SHANGHAI, May 16, 2024 /PRNewswire/ -- SANY Heavy Industry ("SANY" or "the Company"; SSE: 600031), a leading heavy machinery manufacturer, has reported a strong growth in international revenues in its recently announced annual results for 2023.
The Company reported RMB 74.02 billion (US$10.43 billion) in total revenues for the year 2023, down 8.44% year-on-year. Despite a challenging market, the decrease in revenue showed a narrowing decline of 15.92 percentage points compared to the previous year's changes.
SANY's net profit totaled RMB 4.6 billion (US$648.74 million) in 2023, posting a 4.16% year-on-year expansion. Its net cash flows from operating activities surged by 39.20% to reach RMB 5.7 billion (US$803.87 million).
The year 2023 was pivotal for SANY as its international business flourished. In 2023, the Company recorded RMB 43.3 billion (US$6.1 billion) in international business revenues, marking an 18% year-on-year increase and accounting for nearly 60% of its main business revenues.
Such significant growth highlights SANY's successful transition to a multinational engineering machinery conglomerate, with its sales spanning over 180 countries and regions. The sales revenues in Asia and Australia amounted to RMB 16.5 billion (US$2.32 billion), up 11.1% year-on-year, while the European region generated RMB 16.25 billion (US$2.3 billion), a substantial growth of 37.97%. The American market brought in RMB 7.58 billion (US$1 billion), rising 6.82%, and the African region contributed RMB 2.92 billion (US$411.8 million), up by 2.56%.
"SANY boasts a vibrant overseas market, top-tier partners, and an energetic local team," said Xiang Wenbo, chairman of SANY Heavy Industry. "Looking ahead this year, we remain committed to our 'Globalization, Digitalization and Decarbonization' strategy, as we continue to work with global partners to explore green development."
SANY's financial performance in 2023 demonstrated substantial improvements, with a notable increase in gross profit margin to 27.71%, up by 3.67 percentage points from the previous year, exceeding the industry median. Additionally, net profit attributable to shareholders rose to RMB 4.52 billion (US$637.4 million), a 5.53% year-on-year increase, and adjusted net profit after non-recurring items surged by 40.35% to RMB 4.38 billion (US$617.7 million). While the main gross profit margin and net profit margin grew, the Company also drove its operation growth. In terms of product lines, excavating machinery, lifting machinery and road machinery performed strongly during the reporting period. In addition, electric products realized revenues of RMB 3.146 billion (US$449.4 million) and hydrogen energy products realized revenues of RMB 130 million (US$18.6 million).
For more information about SANY Group, please visit http://www.sanyglobal.com or follow us on Facebook or YouTube.
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SCG Cleanergy & Rondo Energy to Deploy World's First Heat Battery to Power Cement Production
Southeast Asia's first heat battery – the world's first commercial heat battery at a cement plant – opens the path to simple, low-cost industrial decarbonization.
ALAMEDA, Calif. and BANGKOK, May 16, 2024 /PRNewswire/ -- Rondo Energy, and SCG Cleanergy, a wholly owned subsidiary of Siam Cement Group (SCG), announced that the companies have begun construction of a Rondo Heat Battery (RHB) in Thailand.
Rondo Heat Batteries capture intermittent electricity, store energy as high temperature heat in brick, and deliver continuous industrial heat and power on demand. This installation will convert local solar power into continuous zero-carbon heat and power for SCG's cement plant in Saraburi Province, Thailand.
"Rondo is building this century's industrial infrastructure, harnessing the wind and the sun to power the world's factories," said Rondo CEO John O'Donnell. "We're building deep partnerships with industrial giants to tackle their greatest challenges and to deliver at scale. We've already established gigascale production capacity with SCG, and we're thrilled to be working now with SCG Cleanergy to address a major global need: cement decarbonization."
SCG Cleanergy is a leading clean energy investor and developer in Southeast Asia, with capacity in operation and in pipeline over 550 MW in Thailand. In 2023, SCG Cleanergy's parent company SCG announced plans to expand the production capacity of Rondo Heat Battery storage to 90 GWh per year at SCG's facility.
"We at SCG Cleanergy are deeply focused on implementing advanced green energy technology to provide efficient decarbonization solutions for the industrial sector," said SCG Cleanergy CEO Attapong Sathitmanothum. "SCG Cleanergy brings together SCG's delivery capacity and industrial expertise with the drive to serve the world's fastest-growing energy market: clean industrial energy in Southeast Asia."
Industrial energy demand in Southeast Asia is growing more than 10% annually, according to the International Trade Association. In 2023, Thailand requested "U.S. carbon-capture, smart grid, and energy storage technologies and solutions to achieve Thailand's climate ambition" including methods of mitigation emissions from cement production. Clean industrial heat powered by renewables will allow Thailand and the larger Southeast Asia region to decarbonize manufacturing without raising the cost of basic goods.
"Electrification of cement production requires a large-scale and low-cost energy storage solution, as renewables are not available 24/7 but cement production needs to be," said Rondo's President Eric Trusiewicz. "Rondo has brought to market the world's first scalable, low-cost, high temperature thermal energy storage solution, and this project is the first step of getting this technology to wider deployment in cement and in the developing world, where 90% of cement is produced and consumed. Hard-to-decarbonize sectors like cement and steel will need to move away from fossil fuels globally and begin using renewable electricity to get us to net zero by 2050."
Rondo is the leading provider of zero-carbon industrial heat and power, making deep industrial decarbonization both possible and profitable. Rondo not only helps replace fossil fuels for some of the most challenging sectors to decarbonize, but its technology can also help stabilize the grid by adding a highly flexible electricity demand that can soak up renewable power when it's abundant. Rondo Heat Batteries are proven at scale to enable low-cost heat and power for customers, all from intermittent renewable electricity.
"Rondo's solution has broad applicability across various industry segments and customer types, and it is great to see that they are now expanding into new geographies as well," said Olivia Oo, Head of APAC, Partnerships at Breakthrough Energy. "We believe that this partnership marks not only Rondo's first installation in Southeast Asia, but will also pave the way for many more opportunities to drive decarbonization in a growing and rapidly expanding region."
Today, 15% of global CO2 emissions are produced by industrial heat, and repowering industrial heat with clean energy is one of the greatest business opportunities of our time. A recent study by SystemIQ on industrial heat found that heat batteries could reduce global greenhouse gas emissions by 20%, while reducing costs and emissions in the electricity system and cutting fossil gas combustion by as much as 40%.
About Siam Cement Group ("SCG")
SCG, one of ASEAN's leading conglomerates, operates business in compliance with ESG principles and sustainable development goals in the economy, society, and environment underpinned by good governance. SCG comprises three core businesses: Cement-Building Materials Business, Chemicals Business, and Packaging Business. SCG strives to respond to our customer's diverse needs through collaborative partnership cultivation and innovative products, services and solutions development.
About SCG Cleanergy
SCG Cleanergy, a wholly owned subsidiary of SCG, was established to provide power solutions from renewable energy including solar and wind energy in Thailand and ASEAN region and beyond.
More about Rondo's solution
Rondo is purpose-built for industrial facilities: its Heat Batteries are constructed from proven, durable materials and are designed for seamless integration with existing industrial equipment and processes. Whether deployed as a drop-in replacement for retiring fossil-fueled heating equipment or as a resilient complement to existing systems, Rondo requires no disruptive changes to customers' operations.
Rondo currently operates the world's highest temperature, highest efficiency commercial energy storage system, at Calgren Renewable Fuels in Pixley, California. Working with its partner Siam Cement Group (SCG), Rondo is expanding the production capacity of its storage media from its current 2 GWh/yr to an industry-leading 90 GWh per year.
This clean source of low-cost heat creates and maintains local jobs, making local industries more competitive and improving air quality. Rondo Heat Batteries are a zero-combustion technology that, unlike a gas-fired boiler, emits zero NOx, SOx, or Particulate Matter (PM) that worsens local air quality and harms community health.
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| 2024-05-20T22:25:14
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Sean Hepburn Ferrer: MADRID WILL HOST THE WORLD PREMIERE OF THE MUSICAL 'BUSCANDO A AUDREY' ("BECOMING AUDREY")
MADRID, May 16, 2024 /PRNewswire/ -- Audrey Hepburn, the global icon, will have her own musical. Sean Hepburn Ferrer, Audrey's son, joins forces with screenwriter / producer José Ignacio Salmerón and composer Fernando Velázquez to create a world class musical and to pre announce the 2025 Madrid world premiere of "BUSCANDO A AUDREY" ("BECOMING AUDREY")
Madrid will be the showcase from which it will be exported to the rest of the world.
Ferrer commented: "This is not the classic biography. When my mother was asked to write hers, she always answered: 'Nothing special happened to me. I just went to work and people liked it'. We created a script with deep cinematic roots that mirrors her life, career and humanitarian legacy.'
The writer / film producer acknowledges that they chose Madrid to celebrate the world premiere of the musical dedicated to his mother because, "in addition to being the third capital in terms of business volume for musicals, Madrid is in the midst of a social and economic boom. Furthermore, my ancestors are Spanish – we spent many happy years here – my mother always loved this wonderful culture."
The idea and script for this creation comes from José Ignacio Salmerón, a comedian, screenwriter and producer of numerous theatrical hits. "To build a musical around the persona of Audrey Hepburn has been an exciting challenge. This unique and elegant woman, with infinite kindness, has been an extraordinary source of inspiration to create a musical comedy full of emotions and surprises," confesses Salmerón.
The original score and lyrics for "Buscando a Audrey" / "Becoming Audrey" are by Spanish composer, Fernando Velázquez, winner of a Grammy Award and a Goya, and soundtrack creator of some of Spain's top film hits such as The Impossible,The Spanish Affair and The Orphanage.
In addition, the musical contains a hidden surprise: The last unpublished song by the world renowned composer Henry Mancini, winner of four Oscars and twenty Grammy Awards. 2024 marks the centenary of Mancini's birth. He composed most of Audrey's film soundtracks as well as the iconic Moon River, which is immediately associated with Hepburn from her first rendition in Breakfast at Tiffany's.
The production will have a top team of creative professionals whose talent has earned them thirty prestigious awards (Max Theater Awards, Musical Theater Awards and Broadway World)
Audrey Hepburn marked a before and after in Hollywood, becoming a myth for the way she understood and lived her life. Today, with only five years left to celebrate the centenary of her birth, she continues to top the rankings of fashion, style, beauty and elegance. More than three hundred books have been written about her, while documentaries and television series continue to be produced about her life and her name frequently appears in the media undoubtedly also due to her humanitarian legacy.
This production will delight her faithful followers, lovers of music, cinema and musicals as well as her youngest fans who want to know how her charisma, elegance and humility conquered the world and her legend was forged.
"BUSCANDO A AUDREY" ("BECOMING AUDREY") will premiere in Madrid early Spring 2025.
Media contacts: [email protected]; Title: Communications Director; Name: Danny Mejias; Mail: [email protected]; Phone: +34619675742; Web: buscandoaaudrey.com
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| 2024-05-20T22:25:21
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AHMEDABAD, India, May 18, 2024 /PRNewswire/ -- The second edition of the CEPT Conferences on 'Urban Design in India' and 'Urban Planning in India' were held on 8th May and 9th May 2024 respectively in Ahmedabad. The conferences were organized by the CEPT Research and Development Foundation (CRDF) and the Faculty of Planning, CEPT University. More than 400 participants mainly professionals, government officials, academicians, and students attended the conferences.
'Urban Design in India' focussed on the rapidly changing urban environment in the country. The conference provided a platform for urban design professionals to share their experiences, challenges, and successes during project cycles or implementation.
'Urban Planning in India' delved into the issues of Indian cities due to rapid urban growth. The conference witnessed planning practitioners exchange ideas while discussing practical approaches to urban planning. The event aimed to reassess and redefine the trajectory of India's urban landscape by fostering collaboration, showcasing success stories, and championing innovative solutions.
Both conferences also focussed on the latest developments in the fields of Urban Design & Urban Planning in the Indian context. Through these Annual Conferences, CEPT aims to establish a platform for professionals in the field, including architects, engineers, urban planners, developers, policymakers, and researchers that will facilitate the sharing of expertise and experiences concerning urban designing and planning in India.
About CEPT University
CEPT University focuses on understanding, designing, planning, constructing, and managing human habitats. Its teaching programs aim to build thoughtful professionals and its research programs deepen understanding of human settlements. CEPT University also undertakes advisory projects to further the goal of making habitats more livable. Through its education, research and advisory activities, the University strives to improve the impact of habitat professions in enriching the lives of people in India's villages, towns and cities. The University comprises six faculties: viz. the Faculty of Architecture, the Faculty of Planning, the Faculty of Technology, the Faculty of Design, the Faculty of Management and the CEPT Foundation Program. In December 2023, CEPT University has been recognized by the Government of India as a Centre of Excellence in Urban Planning and Design. This comes with an endowment of Rs. 250 Crore to be used towards the research and training on India specific knowledge in Urban Planning and Design over the next 25 years.
CEPT University was established by the CEPT University Act of 2005 enacted by the Government of Gujarat. It was originally started in 1962 as the School of Architecture supported by the Ahmedabad Education Society. The Department of Scientific and Industrial Research (DSIR) of the Government of India recognizes the University as a Scientific and Industrial Research Organization (SIRO). CEPT University is recognized as a Center of Excellence by the Government of Gujarat. CEPT University has many ongoing collaborations and exchange programs with top ranked universities across the world.
About CEPT Research and Development Foundation (CRDF)
CEPT Research and Development Foundation (CRDF) is the research and advisory arm of CEPT University. CEPT University has created a vibrant environment of interdisciplinary collaboration and innovation focused on issues concerning human habitats. Through CRDF, University engages actively in research projects, advisory assignments and capacity building initiatives aimed at solving critical problems in the built environment and improving people's quality of life in towns and cities. Through these research and consulting pursuits, our faculty members make available their academic knowledge and professional expertise to external stakeholders including the government, public sector organisations, NGOs, communities, and businesses.
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| 2024-05-20T22:25:27
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Seegene and Springer Nature Announce Strategic Alliance
- Strategic alliance aims to foster collaboration with researchers working in various disease fields by using best-in-class PCR diagnostic technology
- Companies will facilitate C-level cooperation, strengthening the partnership for the SG OneSystem™ business (Seegene's technology-sharing business)
SEOUL, South Korea, May 16, 2024 /PRNewswire/ -- Seegene Inc. (KQ096530), a leading South Korean company providing a total solution for PCR molecular diagnostics, announced on May 16th the signing of a strategic alliance agreement with Springer Nature, the publisher of the prestigious scientific journal, Nature.
Sharing common values in Springer Nature's aim to advance discovery and Seegene working towards realizing a world free of diseases provides the basis for a natural alliance.
The new alliance will see the two companies use their joint expertise and knowledge to support researchers across the global scientific community to speed up PCR diagnostic testing of important but various disease areas.
PCR molecular diagnostics companies develop only a few diagnostic products annually. By leveraging the Springer Nature network, the two companies will provide funding and technology to global scientists and experts in various fields, significantly broadening the range and potential of diagnostic products. This initiative, spearheaded by senior management at both companies, builds upon the success of the Open Innovation Program that was launched by the two companies in 2023 whose goal was to develop innovative diagnostic products with participation of the scientific community.
Both companies will expand their collaboration using the OneSystem™ business by identifying and promoting potential partners as well as co-hosting annual symposiums starting with a joint declaration this year.
"We are thrilled to deepen our strategic relationship with Springer Nature, an authoritative leader in the global scientific community," said Dr. Jong-Yoon Chun, CEO and Founder of Seegene. "Together, we will work to advance the success of the SG OneSystemTM business and to realize 'a world free of diseases'."
"Springer Nature applauds Seegene's effort to democratize early diagnosis of multiple diseases to enable timely treatment," said Frank Vrancken Peeters, CEO of Springer Nature. "This noble goal can only be achieved through collaborations. As a trusted partner to the research community, Springer Nature will help to build a global network of experts who, using Seegene's technology, can accelerate the development of new tests for a wide range of conditions."
Seegene and Springer Nature received significant interest from the global scientific community for the inaugural Open Innovation Program launched in 2023. The program, comprising 15 projects, received a total of 281 applications from 47 countries, resulting in a competitive ratio of 11 to 1 for the selection of 26 applicants. Recognizing the potential of technology sharing, the two companies aim to expedite the commercialization of expertise and knowledge across various fields. This year marks the second iteration of the program, which will depart from the 2023 model of predefined product development. Instead, the 2024 program will adopt a more open format, allowing applicants to propose for any product development.
"We have high expectations for the Open Innovation Program to contribute to the democratization of PCR molecular diagnostics," said Marc Spenlé, COO of Springer Nature. "Together with Seegene, we will create an ecosystem that encourages and accelerates the development of new tests to address currently unmet needs."
About Seegene
Seegene has 23 years of dedicated R&D, manufacturing, and business experience around syndromic quantitative PCR technologies, which was highlighted during the COVID-19 pandemic when it provided over 340 million COVID-19 tests to more than 100 countries worldwide. The core feature of Seegene's unique syndromic PCR technologies is the ability to simultaneously test 14 pathogens that cause similar symptoms in a single tube and provide quantitative information on the infectivity profile to correlate with the severity of illness.
About Springer Nature
For over 180 years Springer Nature has been advancing discovery by providing the best possible service to the whole research community. We help researchers uncover new ideas, make sure all the research we publish is significant, robust and stands up to objective scrutiny, that it reaches all relevant audiences in the best possible format, and can be discovered, accessed, used, re-used and shared. We support librarians and institutions with innovations in technology and data; and provide quality publishing support to societies.
As a research publisher, Springer Nature is home to trusted brands including Springer, Nature Portfolio, BMC, Palgrave Macmillan and Scientific American.
For more information, please visit springernature.com and @SpringerNature.
FURTHER INFORMATION
SG OneSystemTM
SG OneSystemTM business is Seegene's global strategy to share its PCR molecular diagnostics technology and know-how, accumulated over more than 20 years, with leading companies worldwide to create a global consortium that would expand the development pipeline of PCR products. Furthermore, Seegene seeks to harness the collective expertise and knowledge of the global scientific community to advance innovation in the diagnostic field. Through these combined efforts, the commercialization of expertise and knowledge, as well as the development of diagnostic products tailored to meet the needs of the local market, SG OneSystemTM aims to democratize early access to PCR testing and ultimately contribute to realizing 'a world free of diseases'.
In January 2024, Seegene entered a strategic collaboration with Microsoft to bolster its Seegene Digitalized Development System (SGDDS) using Microsoft's technology including plans for utilizing artificial intelligence (AI) in the future. Seegene's collaboration with Microsoft and Springer Nature will advance the SG OneSystemTM business. These three companies are planning for a declaration event to kick off the collaborative partnerships this year.
Open Innovation Program (OIP)
Open Innovation Program (OIP) is a global PCR reagent development project co-hosted by Seegene and Springer Nature. The inaugural program launched in 2023 September called for application to scientist and experts across the community to conduct research for the 15 designated projects to develop Seegene's syndromic qPCR diagnostics assay reagents.
The open innovation program is part of Seegene's technology-sharing business, SG OneSystemTM business aimed at realizing 'a world free from all diseases' with the goal of developing products that consolidate knowledge and expertise of science and experts worldwide.
Seegene Digitalized Development System (SGDDS)
Seegene Digitalized Development System (SGDDS) is a system that enables standardized and automated development of diagnostic kits. It is embedded with Seegene's technologies and product expertise and provides support for researchers to easily develop syndromic PCR products, even to those with limited development experience.
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| 2024-05-20T22:25:33
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TECNO Unveils Compelling Teaser for the Most Anticipated 2024 Calendar
NEW DELHI, May 17, 2024 /PRNewswire/ -- TECNO, the most stylish smartphone brand renowned for its innovative approach, is set to ignite excitement with the unveiling of its highly anticipated calendar for 2024. Shot from the upcoming Camon 30 Series, this scintillating calendar promises to be a visual masterpiece that will captivate audiences worldwide.
Against the backdrop of sun-kissed beaches, the Camon 30 Series calendar features a tantalizing model shoot that exudes beauty, allure, and sophistication. Each stunning image showcases the exceptional camera capabilities of the Camon 30 Series, capturing every moment with unrivalled clarity, detail, and vibrancy.
The aim of this exhilarating calendar is not only to showcase the innovative and stylish TECNO brand but also to immerse viewers in a world of beauty, passion, and endless possibilities. By leveraging the captivating allure of the beach setting and the magnetic charm of its models, TECNO seeks to create an unforgettable experience that resonates with audiences on a profound level. TECNO is confident that this calendar shoot will not only elevate the brand's presence but also carve a lasting niche in the minds and hearts of consumers worldwide.
Stay tuned as TECNO unveils the hottest calendar of the year, shot exclusively for the Camon 30 Series, setting the stage for an unforgettable journey of beauty, passion, and discovery.
ABOUT TECNO
TECNO is an innovative technology brand with operations in 70+ countries and regions across five continents. Since its launch, TECNO has been revolutionizing the digital experience in emerging global markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. Today, TECNO has developed into a recognized leader in its target markets, delivering state-of-the-art innovation through a wide range of smartphones, smart wearables, laptops, tablets, HiOS operating systems, and smart home products. Guided by its brand essence of "Stop At Nothing," TECNO is committed to unlocking the best and newest technologies for forward-looking individuals. By creating stylish, intelligent products, TECNO inspires consumers worldwide to never stop pursuing their best selves and best futures.
For more information, please visit TECNO's official site: https://www.tecno-mobile.in/
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| 2024-05-20T22:25:39
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The 26th Bakery China Set to Drive a New Wave of Innovation in Shanghai
SHANGHAI, May 16, 2024 /PRNewswire/ -- The 26th Bakery China, co-organized by the China Association of Bakery and Confectionery Industry (CABCI) and Bakery China Exhibitions Co., Ltd., is set to take place from May 21st to 24th, 2024, at the National Exhibition and Convention Center (NECC) in Shanghai. This year, the exhibition will utilize 12 exhibition halls of NECC, covering a total area of 320,000 square meters. Over 2,200 renowned brands from nearly 30 countries and regions will showcase their latest products. Over a hundred conferences, forums, thematic events and competitions with insights from hundreds of business leaders and bakery masters. It is expected that the exhibition will receive an estimated 400,000 visits, representing over 130 countries and regions.
Bakery China, the largest professional exhibition in the global baking industry, is recognized as the premier platform for entering the Chinese market. Each edition of the exhibition introduces thousands of new products, technologies, services, solutions, and business models, making it a vibrant innovation hub. Bakery China is dedicated to creating a professional business and trade platform that covers the entire industry supply chain. Highlights for 2024:
- With international exhibitors consisting of over 20% of the total, the international exhibition area is set to expand by more than 50%, including national pavilions from renowned countries such as Italy, Japan, and more, adding to the diverse range of offerings.
- Over 7,000 international visitors have pre-registered, tripling the previous attendance figures. An extended service called International Trade Match-Making will be available at the Int'l Hall 2.1, providing enhanced services for global industry professionals.
- With over 20 categories, the exhibition will showcase overall industry landscape and development opportunities based on the Ingredients, Equipment, and Packaging Solutions Zones. This year, the exhibition will introduce new zones including pre-made bakery, OEM & Private Brands, dairy products, healthy bakery, and bakery plus. The Dairy Products Zone will feature the participation of nearly a hundred leading dairy product brands such as Lactalis, Nestle, and Arla.
- Three new zones will be unveiled to support the development of new quality productive forces within the industry. These zones include the "Bakery China Innovation, Bakery China Power" for innovative products & technologies, the Case Demonstration for Sustainable Industrial Development, and the Industrial Big Data Trends.
- For visitor convenience, iBakeryChina is an advanced digital online platform seamlessly integrating business -inquiries and offers, industry innovation, knowledge exchange, trends and insights, and exhibition services. With over 4,000 registered suppliers and connections to more than 500,000 buyers, iBakeryChina offers tens of thousands of SKUs. Bakery China 2024 will introduce the Indoor Navigation System @iBakeryChina, elevating the user experience.
Additionally, the exhibition will host engaging events, such as the 6th Pre-Made Bakery Festival, uniting over 300 supply chain brands and showcasing more than 1000 new products and technologies, to highlight the latest market trends and insights. Bakery China will keep evolving as an ecosystem, enabling the global baking community to share innovative ideas and forge valuable commercial connections.
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| 2024-05-20T22:25:45
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The ASEAN Centre for Energy and Huawei Release a White Paper to Shape the Future of Data Center Sustainability
SINGAPORE, May 17, 2024 /PRNewswire/ -- On May 17, 2024, the White Paper on Building Next Generation Data Center Facility in ASEAN, co-developed by the ASEAN Centre for Energy (ACE) and Huawei, was released at Global Data Center Facility Summit 2024 in Singapore. The white paper aims to accelerate the green and low-carbon transformation of the data center industry in ASEAN.
Driven by global digitalization, digital transformation is booming in the ASEAN region. Massive data and huge compute demands have emerged, unlocking great potential in the data center market. Due to tropical climates of the ASEAN region, data centers feature high cooling requirements, high energy consumption, and power usage effectiveness (PUE) values far higher than the global average. Therefore, ASEAN governments are promoting the application of renewable energy and energy conservation technologies.
Dr. Nuki Agya Utama, Executive Director of ACE stated, "The white paper reflects on challenges in data center installations and operations, as well as a comprehensive discussion on the matter of technology trends and ways to address energy consumption, cost savings, and environmental responsibility. Moreover, it provides policy recommendations for data center markets, both mature and emerging markets, for the development of data centers."
During the summit, Dr. Andy Tirta, Head of Corporate Affairs, ACE, delivered a keynote speech. "Beyond the renewable energy to support energy security in the ASEAN region, energy efficiency is the lowest hanging fruit that could be achieved by introducing advanced technology and innovation, enabling supportive financing mechanisms, policies and regulations, including the standardization of the regional target."
The white paper summarizes the four characteristics of next-generation data centers as Reliable, Simplified, Sustainable, and Smart. It calls for using efficient and energy-saving products and solutions in data center design, development, and O&M to improve energy efficiency.
- Reliable: Reliable operation is the cornerstone of a data center. Modular design and AI preventive maintenance are helpful to guarantee the safety and reliability of data centers at all levels, from components and equipment to systems.
- Simplified: In response to the increasing scale and complexity of data centers, the architecture and systems should be minimalist through hardware convergence.
- Sustainable: Innovative products and solutions can be used to build energy-efficient and low-carbon data centers that are a benefit to society.
- Smart: To address the O&M challenges of data centers, facility automation can be achieved with the help of digital and Al technologies.
According to the white paper, utilizing clean energy to power data centers is a good way of reducing carbon emissions. It recommends that ASEAN governments implement discounted electricity rates or tax breaks for data center operators that use clean energy as their main power source.
Carbon neutrality has become a global consensus. The white paper sets the direction for the ASEAN region to build reliable, simplified, sustainable, and smart next-generation data centers. Huawei will work with the ASEAN Centre for Energy to jointly accelerate the low-carbon and intelligent transformation across the data center industry in the ASEAN region, contributing to a sustainable future.
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| 2024-05-20T22:25:51
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ZIMLog Unveils Transformed Structure and Expanded Scope Pioneering the Future of Logistics with reliable and Personalized Precision
HAIFA, Israel, May 16, 2024 /PRNewswire/ -- ZIMLog, a global freight forwarding brand, proudly unveils its renewed structure, reflecting a blend of experience and innovation aimed at meeting the diverse and evolving needs of businesses worldwide.
After more than 22 years of successful activity, primarily in China, and following a transformative upgrade, ZIMLog expands its scope of operations. Focused on personalized service and advanced tools, ZIMLog presents a fresh, efficient, and cost-effective solution in the global freight forwarding landscape.
With a strategic network spanning the globe, including branches in China, Canada, USA, Vietnam, Brazil, India, Singapore, and Hong Kong, and global partners covering the globe, ZIMLog is strategically positioned to redefine the logistics experience for businesses of all sizes and provide customers with end-to-end logistics solutions.
Harnessing decades of industry expertise, ZIMLog boasts a team of seasoned professionals offering a comprehensive suite of services, from ocean and air freight to warehousing and e-commerce logistics.
Adee Barak, General Manager of ZIMLog: "In a world where logistics demands agility, innovation, trust, and reliability, our revamped approach underscores our commitment to providing tailor-made services that accommodate customers' needs. leveraging local market insights and global partnerships to deliver unmatched solutions".
For more information, visit www.zim-log.com or contact our media relations team at [email protected] or +972-54-624 4178.
About ZIMLog:
ZIMLog is a dynamic global logistics and shipping brand, offering tailored solutions for businesses engaged in international trade. With a focus on efficiency, professionalism, and personalized service, ZIMLog gives its potential clients the edge they need for their logistic needs and are committed to delivering unparalleled quality to clients worldwide.
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| 2024-05-20T22:26:03
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Zoomlion Accelerates Global Market Growth with Impressive Showings at International Expos
Strengthening global presence, demonstrating high-end intelligence with 52.85% YOY Growth in Overseas Revenue in Q1
CHANGSHA, China, May 16, 2024 /PRNewswire/ -- In a strategic move to further develop the global construction machinery market, Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion", 01157.HK) has significantly advanced its market position by participating in multiple prestigious international exhibitions. These initiatives serve as vital platforms for demonstrating the company's capabilities and securing orders, significantly propelling the rapid growth of its international business.
Zoomlion is targeting high-end markets in Europe and North America by localizing manufacturing and engaging in regional expos to enhance its brand image and competitive edge. Concurrently, the company is making advances into emerging markets in Asia, Africa, and Latin America, proving the competitiveness of its products through participation in significant local exhibitions.
In 2023, Zoomlion achieved a record overseas revenue of 17.905 billion yuan (US$ 2.48 billion), continuing this strong growth into the first quarter of this year with a 52.85% increase in overseas revenue, which reached 5.703 billion yuan (US$ 790.26 million) and accounted for 48% of its total revenue.
Recent exhibition highlights and achievements:
- ARA Show in the United States: Zoomlion showcased a range of machinery, including earthmoving and aerial working platforms, specifically targeting North American demands for compact equipment such as the ZE35GU excavator and the ZS090V skid steer loader.
- INTERMAT 2024 in France: Zoomlion launched two tailor-made fully electric scissor lifts for the European market, along with multiple green products, including hybrid mixers and electric aerial working platforms, demonstrating its commitment to sustainability.
- Mining and Construction Vietnam 2024: The company exhibited large excavators and concrete pumps, and catered to Southeast Asia's humid conditions with specially designed products that meet local requirements.
- M&T Expo in Brazil: Zoomlion showcased the "ZMC" series cranes, designed specifically for the Brazilian market, and also garnered over 50 million yuan (US$ 6.93 million) in orders.
- China-Africa Economic and Trade Expo in Africa (KENYA) 2024: Customized right-hand drive mobile cranes catered specifically to East African driving conditions, enhancing practicality for local users.
Zoomlion's strategic participation in international exhibitions highlights the company's steadfast commitment in the global market. By leveraging these opportunities, Zoomlion not only showcases its new product lines and innovations but also deepens connections with customers globally. Moreover, the company strengthens its competitiveness through strategic local adaptations, driving significant growth and reinforcing its market position.
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| 2024-05-20T22:26:10
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When artist Max Arrington first drew Shrimp Jesus, he never dreamed an AI image of Jesus Christ with shrimp-like arms and legs would become a viral internet phenomenon.
"It's a tweet that I drew, and it's become a phenomenon really," Arrington, an artist from Scotland Neck, North Carolina, told Scripps News. "It was supposed to be like a joke drawing. But then I put it together and it kind of just blew up."
While Arrington started selling his digital art of Shrimp Jesus online two years ago, today you can see countless reiterations on Facebook that were generated by artificial intelligence.
What might have started off as a harmless joke is now a warning sign of captivating, clickbait AI-generated images taking over social media and gaming algorithms.
According to a recent report from the Stanford Internet Observatory, which studied 120 Facebook pages, these AI-generated images are used by spammers and scammers to lure in unsuspecting Facebook users. The report, which has not yet been peer-reviewed, defined spammers as "accounts that were pushing their audiences out to a content farm," and scammers as accounts that "were attempting either to sell products that do not appear to exist, had stolen the pages they operated, or were attempting to manipulate their audiences within the comments."
"Sometimes there are spammers and scammers who recognize that they can use this tool to make images — very heart-wrenching images — very easily, very cheaply," Renee DiResta, a technical research manager at the Stanford Internet Observatory who co-authored the report, told Scripps News.
"And they can use that to really draw people in, in hopes of either scamming them, such as by selling them a product that doesn't exist, or sending them to a content farm or some sort of manipulative website that then they have a kind of a negative experience with," said DiResta.
Scripps News reviewed thousands of Facebook posts with AI-generated images and found that many of them have high levels of engagement. And they're not just images of Shrimp Jesus.
"What you're seeing with a lot of this are images that could be real," DiResta said. For example, one image featured "an elderly woman with a birthday cake, and the post says something like, 'I baked it myself.'" Other posts repeatedly included phrases like "Nobody ever blessed me," or "Made it with my own hands," and encouraged Facebook users to "grade" their work.
"You'll see things that are trying to appeal to sympathy, or making people want to engage with the content," DiResta said.
Experts and researchers have called for better transparency from social media companies as AI-generated images increasingly show up on platforms.
According to the Stanford report, Facebook users are increasingly seeing content they do not follow or search for, also known as "unconnected posts." These posts have tripled from 2021 to 2023, growing from 8% of what users see in their feeds to 24%, according to the report, which cited Meta's "Widely Viewed Content Report."
DiResta says this is likely an outcome of Facebook competing with TikTok.
"If you open TikTok, you don't see posts only from people that you follow. It's constantly pushing you videos that it just thinks you're gonna like. And so other platforms are starting to do this also," she said.
Due to Facebook's algorithm, the more people engage with pages featuring AI-generated images on Facebook, the more likely their friends or the people they're connected to will see this content, too, DiResta said.
Artificial Intelligence
Growing concern that artificial intelligence could pose new cybersecurity threats
"And that's because the platform can intuit that there's some sort of either connection on the back end, or some sort of relationship between the pages," she said. "It's very common, even in the realm of completely normal activity, to go follow a page on cooking, and then you start to see gardening, and then you start to see jogging."
If a user, for example, engages with religious posts on Facebook, the algorithm could eventually recommend an AI-generated image of Shrimp Jesus. According to the Stanford Internet Observatory report, citing Meta's Transparency Center, a Facebook post with unlabeled AI images landed in the top 10 most-viewed pieces of content last year.
Meta, Facebook's parent company, announced earlier this year in February the company was working with industry partners on "common technical standards for identifying AI content, including video and audio."
"Scammers use every avenue available to them to defraud people and constantly adapt to evade enforcement," a Meta spokesperson told Scripps News. "Content that purposefully intends to deceive or exploit others for money violates our policies, and we remove this content when it's found."
Within a week after Scripps News questioned Meta about the Stanford Internet Observatory report, many of the highlighted posts were gone.
"We welcome more research into AI and cross-platform inauthentic behavior since deceptive efforts rarely target only one platform. We've reviewed the pages in this report and have taken action against those engaged in inauthentic behavior, and demoted the clickbait sites under our Content Distribution Guidelines," a Meta spokesperson said.
Meta said in Q4 2023 it removed 964 million pieces of spam content and 691 million fake accounts from Facebook. The tech giant also said it planned to add transparency labels to AI content users post on Facebook, Instagram and Threads in May.
Consumers, whether they're buying a product or using a social media platform, want transparency when it comes to AI images. According to a recent report from Getty Images, 90% of consumers globally want to know if an image was created using artificial intelligence.
These labels will be increasingly imperative. Not all AI images on Facebook or other social media platforms including Linkedin look like Shrimp Jesus; many of them appear hyper-realistic, save for some clues like extra hands or fingers.
"Some of the early ones were kids with displaying what was supposedly their art. And it would say, 'It's my child's first competition, what do you think,' right? And of course, the point there is to is to generate engagement, to get attention, and then to make the content hit more people," DiResta said.
"These kids don't exist. This art doesn't exist. But people were engaging," she added. "And then sometimes, some of the unscrupulous page owners were sending messages, direct messages to the people who were kind of falling for it."
As these AI-generated images, video and audio advance, and their creators perfect their craft, anyone is susceptible to their intended purpose — deceptive or not.
"Sometimes people use it for creation, but there's always some kind of dark side," DiResta said.
Not all AI images or art may have malicious intentions, but they will be harder to separate from digital art or even photos of real people if they're unlabeled.
"I think it's hard for a lot of people to see things and be able to make the distinction between digital art from a real artist and AI art," Sarah Frazier, a Florida-based artist who purchased a Shrimp Jesus artwork from Arrington, told Scripps News.
"For me it's listening to music made by computer versus music made by a musician," she added. "It's just different, one has real soul to it."
"I feel like it being used to scam people the way it is, is probably one of the biggest things we should take as a cautionary tale with AI art in all of this," Arrington said.
"But even as great as AI can create an image," he added. "I do think people will always want what they can tell their own kind made, when you can see that something has been made by hand."
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| 2024-05-20T22:29:02
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The intense segregation by race is linked to socioeconomic conditions: Schools where students of color compose more than 90% of the student body are five times more likely to be located in low-income areas. That in turn has resounding academic consequences: Students who attend high-poverty schools, regardless of their family’s finances, have worse educational outcomes.
Efforts to slow or reverse the increasing separation of American schools have stalled. Court cases slowly have chipped away at the dream outlined in the case of Brown v. Board, leaving fewer and fewer tools in the hands of districts to integrate schools by the early 2000s.
The arc of the moral universe, in this case, does not seem to be bending toward justice.
“School integration exists as little more than an idea in America right now, a little more than a memory,” said Derek Black, a law professor at the University of South Carolina. “It’s actually an idea that a pretty good majority of Americans think is a good idea. But that’s all.”
MORE THAN JUST DIVERSE SCHOOLS
The dream of Brown was never as simple as diversity. It was about equality, and the opportunity that came with it.
From the beginning, funding and integration have been inseparable.
“Whiter schools and districts have more resources, and that is wrong,” said Ary Amerikaner, a former Obama administration official and the founder of Brown’s Promise. “But it is a reality. And that undermines opportunity for students of color, and it undermines our future democracy.”
We remember Brown v. Board as the end of segregated schools in the United States. But stating values does not, alone, change reality. Though the case was decided in 1954, it was followed by more than a decade of delay and avoidance before school districts began to meaningfully allow Black students to enter white schools.
It took further court rulings, monitoring and enforcement to bring a short-lived era of integration to hundreds of school districts. For the students who took part in those desegregation programs, their life trajectory changed — the more years spent in integrated schools, the better Black children fared on measures like educational attainment, graduation rates, health, and earning potential, with no adverse effects on white children.
For a brief period, it seemed the country recognized the deeper remedies required. “All things being equal, with no history of discrimination, it might well be desirable to assign pupils to schools nearest their homes,” Chief Justice Warren Burger wrote in Swann v. Mecklenburg, a 1971 decision that upheld the use of busing to integrate schools in North Carolina. “But all things are not equal in a system that has been deliberately constructed and maintained to enforce racial segregation.”
But not long after, another series of court decisions would unwind those outcomes. Fifty years ago, in Milliken v. Bradley, the court struck down a plan for integrating Detroit public schools across school district lines. The ruling undermined desegregation efforts in the north and Midwest, where small districts allowed white families to escape integration.
Other decisions followed. In Freeman v. Pitts, the court ruled resegregation from private choice and demographic shifts could not be monitored by the court. More than 200 districts were released from court-monitored desegregation plans. By 2007, when the court ruled in Parents Involved v. Seattle Public Schools, even voluntary integration plans could no longer consider assigning students on the basis of race.
“If you have the tools taken away from you ... by the Supreme Court, then you really don’t have a whole lot of tools,” said Stephan Blanford, a former Seattle Public Schools board member.
ONE DISTRICT AS A MICROCOSM
The arc of history is clear in the city where the landmark Swann busing case originated.
At its peak, Charlotte-Mecklenburg Schools was considered such a success at integrating classrooms and closing the gap between Black and white students that educators around the country came to tour the district. Today, more than 20 years after a court ruling overturned busing students on the basis of race, CMS is the most segregated district in North Carolina.
While there are no laws that keep kids siloed by race and income, in so many schools that is the reality.
Charlotte’s sprawling, complex busing plan brought Black and white students into the same schools — and by extension, made white children's resources available to Black students for the first time. The district’s integration program ended when white families sued after their children did not get their top choice of school placement in a lottery that considered race.
Instead, the district created a school assignment process that said diversity "will be based on the family’s decisions.” It left the families of Mecklenburg County, some of whom have always had better choices than others, on their own. In the first year of the district’s choice program, Black families were more likely to try to use the choice plan to pick an alternative school. They were also more likely to get none of the magnet schools they wanted.
In the decades that followed, the district re-segregated. Years of busing had unwound the segregated makeup of the schools, but the underlying disparities and residential segregation had been left untouched.
Charlotte is a place where the divide between affluence and poverty, and the clear racial lines that mirror it, are so stark that people who live there refer to the city in two parts — the well-off “wedge” and the poorer “crescent.” How could anything other than an explicit consideration of those conditions ever hope to ameliorate them?
Solutions to segregated schools exist in this context, often relying on individual families to make choices that are limited by their circumstances. Magnet schools and inter-district transfers — two common policies that may create great individual opportunities — are limited and will always leave some students behind.
Wherever you look, families are divided in how they view integration. For white and affluent families, it can exist as a noble idea, one filled with self-reflection. But for families of color or poor families — those with less of a safety net — the point of integration often is to place their children somewhere better.
Efforts to integrate schools can take two paths, Stefan Lallinger, executive director of Next100, a public policy think tank, says. They either fight around the margins, creating slightly less segregated spaces, or they address the problem head on, which in many parts of the country would mean tackling boundaries deliberately drawn to separate rich from poor.
HOW TO MOVE FORWARD IN A SYSTEM THAT RESISTS?
Amerikaner and Saba Bireda founded Brown’s Promise on the idea of bridging the divide between funding and integration, leveraging state courts to obtain the tools the Supreme Court has taken away from districts.
Their strategy has some precedence. In Connecticut, a 1989 lawsuit in state court resulted in the creation of an inter-district transfer program, which allows students in Hartford to transfer into suburban schools and magnet programs, breaking up concentrations of poverty and racially isolated schools.
“This country had to be moved to integration,” Bireda said. “And unfortunately, 70 years later, we feel like we still need litigation. We need the push of the courts.”
More recent lawsuits have taken place in New Jersey and in Minnesota. In 2015, Alex Cruz-Guzman became a plaintiff in a lawsuit challenging segregation in Minneapolis and St. Paul public schools. Cruz-Guzman immigrated to the United States from Mexico as a teenager. As a parent, he noticed his children's schools consisted almost entirely of other Latino students. When he tried to place them in more integrated schools, the family faced long waitlists.
The case wound its way through court for nearly a decade, almost reaching a settlement in the legislature before that bill failed to pass.
Cruz-Guzman recalls people asking why he would join a case that likely would not resolve in time to benefit his own children, who struggled with learning English for a time in predominantly Latino schools. To him, the arc of the case is about the kids whose lives could change in the future.
“It’s not only my kids. My grandkids will benefit from it,” he says. “People for generations will benefit.”
How far those legal cases can reach remains to be seen. Actual solutions are imperfect. But integration is something this country has tried before, and while it lasted, by many measures, it worked.
Anniversaries are moments to stop and contemplate. Seventy years after Brown, the work towards achieving its vision remains unfinished. Where there are no perfect, easy answers, what other choice is there besides trying imperfect pathways that bring about an increasingly diverse country somewhere closer to the promise of Brown?
“What’s the alternative?” Bireda said. “We are headed towards a country that is going to be majority people of color. ... We can be a strong multiracial democracy, but we cannot be that if we continue to allow most children in the United States not to go to school with children who are from different backgrounds.”
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The Associated Press' education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
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This story was first published on May 15, 2024. It was updated on May 20, 2024 to correct that Derek Black is a professor at the University of South Carolina, and not the University of Southern California.
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| 2024-05-20T22:30:14
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The female moose had recently given birth to the calves in Homer.
“As they were walking through the brush looking for the moose, that’s when the cow moose attacked Dale,” McDaniel said.
The attack happened as the two were running away, he said. The second man, who has not been publicly identified, was uninjured.
That person did not witness the attack, so authorities cannot say if the moose killed Chorman by kicking or stomping him, or a combination.
Medics pronounced Chorman dead at the scene. The cow moose left the area, Alaska State Troopers said in an online post.
In 1995, a moose stomped a 71-year-old man to death when he was trying to enter a building on the campus of the University of Alaska Anchorage. Witnesses said students had been throwing snowballs and harassing the moose and its calf for hours, and the animals were agitated when the man tried to walk past them.
There are up to 200,000 moose in Alaska, a state with a human population of about 737,000.
The animals are not normally aggressive, but can become so if provoked, according to the state Department of Fish and Game’s website.
A cow moose will become very protective over young calves and will attack humans who come too close, the department says.
“Calving season for moose is the time when you definitely want to give them extra space,” McDaniel said. “Cow moose with calves are going to be some of the more aggressive moose you’re going to come in contact with.”
People should not spook the animals or get between a mother and her calves, he said.
“Those moose will become unpredictable and work to protect their calves at any cost,” McDaniel said.
The largest of the deer family, a small adult female moose can weigh up to 800 pounds (363 kilograms), while a large adult male can weigh twice that, according to Fish and Game. The animals can stand almost 6 feet (1.8 meters) tall.
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https://www.journal-news.com/nation-world/moose-kills-alaska-man-attempting-to-take-photos-of-her-newborn-calves/UVZQ4HO3WRCLVEVVF6G7JSNJLQ/
| 2024-05-20T22:30:20
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The Nuggets will have to try to follow that formula now that their quest to become the first repeat champion since Golden State in 2018 came to a screeching end Sunday night with their 98-90 loss to the Minnesota Timberwolves and their rising superstar Anthony Edwards.
Jamal Murray bounced back from an elbow injury and a bad Game 6 with 35 points and three-time MVP Nikola Jokic had 34 points and 19 rebounds.
The duo combined for 32 second-half points but they got just five points from their supporting cast — a 3-pointer by Michael Porter Jr. and a bucket from Christian Braun, as the Wolves won for the third time in four games at Ball Arena.
Porter in particular was stifled by Minnesota's stellar defense. After averaging 22.8 points and 8.4 rebounds in the first round against the Los Angeles Lakers, MPJ was held to 11.3 points and 5.4 boards in Round 2.
Porter blamed himself for the Nuggets having to make earlier-than-expected summer vacation plans.
“There are a lot of things we could’ve done differently as a team,” Porter said. “But I know if I would’ve played my part, we would’ve won this series. And I’ve got to live with that.”
Porter entered these playoffs with a heavy heart after one brother was sentenced to six years in jail for vehicular homicide and another brother was banned from the NBA for life for his role in a gambling scandal.
“I’m not going to sit here and act like it wasn’t a burden and I wasn’t thinking about it all day every day,” Porter said. “But that’s still no excuse. I’m a better player than I played in this series. I’m a better shooter than I shot in this series. In the NBA, you have to be able to separate your off-the-court matters with your on-the-court-play.”
Had he been able to better deal with that — not to mention the Wolves' swarming defense — Porter argues the Nuggets would be the ones preparing to host the Dallas Mavericks in the Western Conference finals this week instead of Minnesota.
Instead, they're the fifth consecutive NBA champion to fail to make it out of the second round in their quest to defend their title.
“We knew it was hard,” Malone said. “It was something I talked to our team in training camp. The last team to do it was the ‘17-18 Warriors and with the rules being what they are now I think it’s going to become even harder and harder to repeat as champions.”
After losing key veterans Bruce Brown and Jeff Green in free agency following the franchise's first NBA title last summer, general manager Calvin Booth's options to restock the team were limited by new rules in the collective bargaining agreement that make it harder for high-priced teams such as the Nuggets to keep their core intact and also acquire veteran free agents.
Denver's starting five made a combined $151.6 million this season, well over the $136 million salary cap before even accounting for the rest of the roster. So, instead of restocking with experienced veterans, the Nuggets decided to give minutes to young players such as Christian Braun and Peyton Watson while working in rookies Julian Strawther, Jalen Pickett and Hunter Tyson.
Meanwhile, all their pursuers got better, mainly through trades and free agency signings. Nine of the top 10 teams in the Western Conference won more games this season than they did a year ago, including the Nuggets, who tied a franchise record with 57 wins, four more than they had a year ago, but still slipped from the No. 1 seed to the No. 2.
Braun came on strong down the stretch and was a key player off the bench in the playoffs. Watson's defensive prowess led to spectacular stretches but he didn't earn Malone's trust enough to be part of the playoff rotation.
Veterans Justin Holliday, Reggie Jackson and DeAndre Jordan got postseason cameos while Strawther, Pickett and Hunter logged meager minutes against Minnesota.
The biggest difference in the series was Minnesota's superior bench featuring Sixth Man of the Year Naz Reid along with Kyle Anderson and Nickeil Alexander-Walker.
Denver's starters outscored Minnesota's starters (565-551) in the series, but Minnesota's reserves outscored Denver's by a whopping 50 points — 168-118.
The Nuggets simply couldn't buck the trend of the NBA producing a new champion every year since 2019. Being the hunted, Aaron Gordon noted, “is exhausting," and Jokic worked so many taxing minutes against the Wolves' three-center rotation that he mused about cloning himself.
Jokic said he'll have to think long and hard about suiting up for Serbia at the Paris Olympics this summer. But Murray, who dealt with knee, calf, ankle, shin and elbow injuries this season, missing 23 games, said he'll suit up for Team Canada.
Beyond that, Murray is already looking at chasing the NBA title again next season.
“It's back to being the hunter,” he said.
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AP NBA: https://apnews.com/hub/NBA
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| 2024-05-20T22:30:27
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In a statement, the White House said that President Joe Biden will name a replacement for Gruenberg “soon” and called for the Senate to quickly confirm the person’s nomination.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
The most powerful Democrat in Congress on banking and financial issues called for President Joe Biden to replace the chairman of the Federal Deposit Insurance Corp. on Monday, saying the agency is broken and there must be “fundamental changes at the FDIC.”
This follows a damning report about the agency's toxic workplace culture was released earlier this month and the inability of FDIC Chair Martin Gruenberg to convince Congress in testimony last week that he is able to turn the agency around despite the report saying Greunberg himself was often the source of the problems.
“After chairing last week’s hearing, reviewing the independent report, and receiving further outreach from FDIC employees to the Banking and Housing Committee, I am left with one conclusion: there must be fundamental changes at the FDIC,” said Sen. Sherrod Brown, D-Ohio, and chairman of the Senate Banking Committee.
Up until Monday, no Democrats had called for Gruenberg's replacement, although several came very close to doing so in their own statements. Brown's statement will likely lead to other Democrats to now call for Gruenberg's removal.
In his statement, Brown did not call for Gruenberg to be fired. He is in the middle of his six-year term as chairman of the FDIC and if Gruenberg were to step down, Vice Chair Travis Hill, a Republican, would lead the agency. Brown instead called on President Biden to nominate a new chair for the FDIC “without delay,” which the Senate would then confirm.
Republicans have been calling for Gruenberg to step down for some time. At Thursday’s hearing, Sen. Tim Scott, R-S.C. and the top Republican on the committee, detailed several stories of female FDIC workers who outlined extreme harassment and stalking by their coworkers, complaints that were dismissed by supervisors, according to the report.
“Marty — you’ve heard me say this to you directly — you should resign,” Scott said. “Your employees do not have confidence in you. And this is not a single incident. This spans over a decade-plus of your leadership at the FDIC.”
Scott, who called for Gruenberg to step down in December when the initial allegations were made public, is now calling for the Banking Committee to hold a separate hearing on the FDIC's workplace issues.
Gruenberg has been been involved in various levels of leadership at the FDIC for nearly 20 years, and this is his second full term as FDIC chair. His long tenure at the agency at the highest levels of power has made him largely responsible for the agency's toxic work environment, according to the independent report outlining the problems at the agency.
The report released Tuesday by law firm Cleary Gottlieb Steen & Hamilton cites incidents of stalking, harassment, homophobia and other violations of employment regulations, based on more than 500 complaints from employees.
Complaints included a woman who said she was stalked by a coworker and continually harassed even after complaining about his behavior; a field office supervisor referring to gay men as “little girls;” and a female field examiner who described receiving a picture of an FDIC senior examiner’s private parts.
The FDIC is one of several banking system regulators. The Great Depression-era agency is best known for running the nation’s deposit insurance program, which insures Americans’ deposits up to $250,000 in case their bank fails.
Sheila Bair, who was chair of the FDIC through the 2008 financial crisis and was one of the most prominent voices from government at that time, posted on Twitter on Monday that it would be best for the agency if Gruenberg would step down.
“This controversy is hurting him and his agency. For his own sake and everyone at the FDIC, he should announce his intention to resign effective with the appointment,” she said.
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AP Treasury Department Reporter Fatima Hussein contributed to this report from Washington.
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A year earlier, Trump Media posted a loss of $210,300.
Trump Media said collected $770,500 in revenue in the first quarter, largely from its “nascent advertising initiative." That was down from $1.1 million a year earlier.
"At this early stage in the Company's development, TMTG remains focused on long-term product development, rather than quarterly revenue," Trump Media said in its earnings news release.
Earlier this month, the company fired an auditor that federal regulators recently charged with "massive fraud." The former president's media company dismissed BF Borgers as its independent public accounting firm on May 3, delaying the filing of the quarterly earnings report, according to a securities filings.
Trump Media had previously cycled through at least two other auditors — one that resigned in July 2023, and another that was terminated its the board in March, just as it was re-hiring BF Borgers.
Shares of Trump Media climbed 36 cents to $48.74 in after-hours trading. The stock, which trades under the ticker symbol “DJT,” began trading on Nasdaq in March and peaked at nearly $80 in late March.
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It recognizes that routinely prescribed drugs can reduce the risk of transmitting HIV via breast milk to less than 1%, said Dr. Lisa Abuogi, a pediatric HIV expert at the University of Colorado and lead author of the report.
“The medications are so good now and the benefits for mom and baby are so important that we are at a point where it is important to engage in shared decision-making,” Abuogi said.
The drugs, known as antiretroviral therapy, don’t eliminate all risk of transmitting HIV through breast milk. Avoiding breastfeeding is the only certain way to prevent spreading the virus, Abuogi said.
In addition, parents must breastfeed exclusively for the babies' first six months because research shows that switching between breast milk and formula can disrupt an infant's gut in ways that increase the risk of HIV infection.
About 5,000 people who have HIV give birth in the U.S. each year. Nearly all take drugs to suppress the virus to very low levels, Abuogi said, though viral levels can rebound if they don't stay on them.
Before the medications became widely available starting a decade ago, about 30% of HIV infections transmitted from moms to babies occurred during breastfeeding, said Dr. Lynne Mofenson, an adviser to the Elizabeth Glaser Pediatric AIDS Foundation. In the early 1990s, about 2,000 infections occurred in U.S. infants each year. Today, it’s fewer than 30.
The AAP policy comes more than a year after the National Institutes of Health and the Centers for Disease Control and Prevention reversed longstanding recommendations against breastfeeding by people with HIV. That guidance said people who have consistent viral suppression should be counseled on their options. It also emphasizes that health care providers shouldn't alert child protective services agencies if a parent with HIV seeks to breastfeed.
The goal is listening to patients “and not blaming or shaming them,” said Dr. Lynn Yee, a Northwestern University professor of obstetrics and gynecology who helped draft the NIH guidance.
Breastfeeding provides ideal nutrition for babies and protects them against illnesses and conditions such as obesity and Type 2 diabetes, research shows. Nursing also reduces the mother’s risk of breast and ovarian cancer, diabetes and high blood pressure.
The World Health Organization has recommended since 2010 that women with HIV in developing countries breastfeed their infants and have access to antiretroviral therapy. The guidance weighed the risk of infants acquiring HIV through breastfeeding and the risk of babies dying from malnutrition, diarrhea and pneumonia in places where safe replacements for breast milk aren't available.
In developed nations, however, experts had recommended against breastfeeding because the wide availability of safe water, formula and human donor milk could eliminate the risk of HIV transmission, Yee said.
That frustrated people with HIV who were flatly refused the option of nursing.
Ci Ci Covin, 36, of Philadelphia, said she was diagnosed with HIV at age 20 and not permitted to breastfeed her first child, Zion, now 13.
“I couldn't understand how come my sister that lives in a place like Kenya, who looks just like me with the same color brown skin, was given the option to breastfeed and how my option was starkly no," she said.
Not being able to nurse her son sent Covin into a spiral of postpartum depression, she said. When she became pregnant with her now 2-year-old daughter, Zuri, her health care team helped her successfully breastfeed for seven months. Covin took her prescriptions as directed and also gave the baby drugs to prevent infection.
“Breast milk has everything in it that my baby would need,” Covin said. “That's a beautiful thing.”
Abuogi said the AAP report provides crucial guidance for pediatricians, nurses and lactation specialists who work directly with children and families.
Some providers were already helping people treated for HIV to nurse their babies, despite the earlier recommendations. The new guidance should expand the practice, hopefully quickly, Abuogi said.
“This is a unique situation because it’s not just doctors and providers who are changing,” Abuogi said. “Our patients are pushing this as well.”
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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.
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Diaa Hadid chiefly covers Pakistan and Afghanistan for NPR News. She is based in NPR's bureau in Islamabad. There, Hadid and her team were awarded a Murrow in 2019 for hard news for their story on why abortion rates in Pakistan are among the highest in the world.
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https://www.publicradiotulsa.org/2024-05-20/a-look-at-rahul-gandhi-who-is-trying-to-wrest-power-from-indias-most-powerful-man
| 2024-05-20T22:31:39
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en
| 0.985614
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A lot of colleges have cracked down on student protesters. Some have called in police to break up encampments and arresting protesting students. That's created a lot of angry parents.
Copyright 2024 NPR
A lot of colleges have cracked down on student protesters. Some have called in police to break up encampments and arresting protesting students. That's created a lot of angry parents.
Copyright 2024 NPR
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https://www.publicradiotulsa.org/2024-05-20/some-tuition-paying-parents-are-angry-over-crackdowns-on-student-protestors
| 2024-05-20T22:31:41
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en
| 0.967651
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- Decatur County Industrial Air Park staff say it cost $800,000 annually to operate the aiport.
- New federal funding will go to Georgia airports to improve the infrastructure.
- Watch the story to learn why the airport helps support local visitation.
BROADCAST TRANSCRIPT:
Federal funding is now on the radar for airports across the state of Georgia.
I'm tracking why more money for the local airport means more profits for local businesses.
"[They will] stay in a hotel.. They will rent cars.. Things like that, [and] go to our restaurants and eat. All this trickles down to our local economy,” said Industrial park manager, Tommy Johnson.
Johnson is explaining how visitors often fly into the Decatur County Industrial Air Park to enjoy the city of Bainbridge. Whether it's hunting season or folks are just craving one of our city landmarks.
Now with new federal funding approved by the Georgia legislature $120 mil. Dollars will be distributed to airports statewide.
"That saves our tax paying citizens a lot of money,” according to Johnson.
Johnson said it cost over $800,000 to operate the airport each year.
He told me staff here do not have to line up and wait when it comes to grant funding because the air park receives money from the county, city and state.
However Johnson said other neighboring airports aren't so lucky because they may not receive funds on the city or county level.
"That $150,000.. That's the only operating money they get,” said Johnson.
Johnson is speaking on the standard federal operations money provided to Georgia airports.
He tells me the airport was once an army air base which is why the runways are larger and can accept jet planes but this also means it costs more money for upgrades.
"Now that we have the federal funds to help us we can take that old runway up and put down a new fresh paved runway,” said Johnson.
I reached out to the city after the additional federal funding was announced. The city released a statement that reads in part quote:
"Our county airport is a critical asset for both tourism and broader economic development in our region. It serves as a gateway for visitors, boosting local businesses, hospitality, and attractions."
Grant funding may be used to upgrade runways, taxiways, air-transit connection and improve airport safety.
The Airport Infrastructure Grant will be awarded within the 2024 fiscal year.
The amount of the money headed to the county airport has not been released just yet.
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https://www.wtxl.com/bainbridge/120m-in-federal-funding-headed-to-georgia-airports-see-how-bainbridge-is-impacted
| 2024-05-20T22:31:42
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en
| 0.960725
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Questions are mounting about a failed coup attempt in the Democratic Republic of the Congo over the weekend that involved several U.S. citizens.
Copyright 2024 NPR
Questions are mounting about a failed coup attempt in the Democratic Republic of the Congo over the weekend that involved several U.S. citizens.
Copyright 2024 NPR
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https://www.publicradiotulsa.org/2024-05-20/what-we-know-about-the-failed-coup-attempt-in-the-democratic-republic-of-the-congo
| 2024-05-20T22:31:44
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| 0.965531
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TALLAHASSEE, Fla. (WTXL) — Second Harvest of the Big Bend is having a neighborhood food distributions in response to the recent tornadoes.
Widespread power outages that lasted day forced many people to throw out hundreds of dollars’ worth of food.
The mobile trailer distribution able to serve 250 families.
Items on the trailer will be fresh produce, dry product, bread and protein.
Tuesday May 21st, 2024
2pm-4pm
Sable Palm Neighborhood
2802 Plant St. Tallahassee, FL 32304
Wednesday, May 22nd, 2024
2pm-4pm
South City Neighborhood
524 East Orange Ave, Tallahassee, FL 32301
Thursday, May 23rd, 2024
11am-1pm
Lincoln Center ( Neighborhood Medical)
438 W Brevard St, Tallahassee, FL 32301
As our neighbors continue to recover from the tornadoes of May 10.
ABC27 spoke to one volunteer at Second Harvest about why he’s there.
All hands-on deck, you know, there's a lot of places looking for help now," Elison DeCarvalho, a Iota Phi Theta Fraternity, Inc. volunteer said. "So if you want to be active if you can, I know some people aren't able to, you know, go out and look. It's a great thing to be part of community.
ABC 27 and the Scripps Howard Fund are launching a Tornado Relief Fund. For those who can give a donation to the Tornado Relief Fund your dollars will go to help this effort.
One local law firm has already made a pledge.
"This is an opportunity for us to step up and help," Jimmy Fasig, a Senior Partner at Fasig Brooks Law Offices said, "but not only to step up and help but also to be in the front of the pack for other community leaders so that we can show by example, to step up for the business owners, the community leaders, and come in and try to make a difference."
The tornadoes exasperated food insecurity in our area—and this emergency response will stretch resources. Second Harvest said before the storm hit Leon County alone had around 37,850 individuals who are food insecure.
"Maybe their parents live with them," Monique Ellsworth, Second Harvest of the Big Bend's Chief Executive Officer said. "Maybe they have children, not having enough food to feed them. And then the power goes out and whatever they did have is completely lost."
You can donate directly through our website or mobile app. If you'd like to donate an amount not listed, tap or click "Other" to enter a custom amount— any and all sizes of donations are gratefully accepted.
You can donate directly through our website or mobile app. If you'd like to donate an amount not listed, tap or click "Other" to enter a custom amount— any and all sizes of donations are gratefully accepted.
In addition to access through our website, you can also give on the go by texting "Tornado" to 50155 to receive a link to a donation form.
All donations will stay in our neighborhoods, helping our neighbors recover from the storms.
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https://www.wtxl.com/college-town/find-out-where-second-harvest-is-having-food-distributions-in-your-neighborhood
| 2024-05-20T22:31:44
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en
| 0.949656
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- The Jefferson Senior Citizens Center saw extreme flooding last month and leaks from recent severe weather.
- Duke Energy and the Florida Council on Aging are helping out, with Duke donating $70,000 to the center.
- Watch the video to see the damage they are still working to repair.
BROADCAST TRANSCRIPT:
Our senior community in Monticello is in need of help after their center dealt with heavy rain issues for the second time in weeks. I'm Kendall Brandt in the Monticello neighborhood where the employees of the Jefferson Senior Center are working to clean up, but are now receiving help.
Mazie Glenn describes herself as "…a servant by nature and I just love serving other people."
She's done that with her work as the director of the Jefferson Senior Center, but that service has been harder this last month after flooding in April.
WATCH OUR REPORT ON THE FLOOD BELOW:
"We had six inches of water inside of the building, the walls were beginning to get soft, the baseboards were getting softer and some were pulling away," Glenn said.
ABC 27took you inside the building showing you the damage shortly after it happened.
I'm checking back in as the center offers meals, in home services and activities for about 50 seniors in the neighborhood.
Glenn said the importance of that work was picked up by a local church that offered them space after the flood.
"Greater fellowship was the first we had, now we have so many others in the county that are stepping up to offer services as well," Glenn said.
Some of the organizations helping: Duke Energy and the Florida Council on Aging.
Danny Collins with Duke Energy is a native to the area.
"We know the importance that this organization and this facility plays in this community," Collins said.
That's why his team at Duke donated $70,000 to the center to help with repairs.
"It was a no-brainer to step in. They have a great need and we have a great responsibility to step in and contribute," Collins said.
While she's not sure when the center will reopen, Glenn said the support from neighbors and companies like Duke Energy are a blessing.
"I just want to thank everybody who has been so kind to us, so helpful, so prayerful for us that we can get back to the place we used to be and hopefully get back to the programs we offered real soon," Glenn said.
If you want to make your own donation, drop by the senior center at 1155 N Jefferson Street with a check or cash. You can also mail in donations.
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https://www.wtxl.com/news/local-news/in-your-neighborhood/see-how-neighbors-companies-help-jefferson-county-seniors-following-flooding
| 2024-05-20T22:31:44
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| 0.985865
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OpenAI is pulling an AI assistant voice for the latest version of ChatGPT that drew comparisons to the voice of actress Scarlett Johansson in the sci-fi romantic drama "Her," which centered on a man who falls in love with the female voice of his computer's operating system.
The company said in a post on X that the voice would be paused as it addresses "questions about how we chose the voices in ChatGPT." A company spokeswoman would not provide further detail.
In a blog post published just before midnight Pacific time Sunday, OpenAI said the AI voice in question, known as "Sky," was developed from the voice of another actress whose identity the company said it is not revealing to protect her privacy.
"We believe that AI voices should not deliberately mimic a celebrity's distinctive voice — Sky's voice is not an imitation of Scarlett Johansson but belongs to a different professional actress using her own natural speaking voice," the company wrote.
OpenAI CEO Sam Altman, whohas said the 2013 Spike Jonze film is his favorite movie, invited comparisons by postingthe word "Her" on X after the company announced the ChatGPT version.
The new model, known as GPT-4o, transforms the hit chatbot into a voice assistant that can interpret facial expressions, detect emotion and even sing on command.
The new voice assistant will be publicly available in the coming weeks. During a live-demo last week, it struck a knowing, flirtatious tone with some of OpenAI's employees, leading some to wonder whether the coquettish demeanor was an intentional ploy to keep people engaged with the AI system.
A publicist for Scarlett Johansson did not have immediate comment.
In an interview with NPR last week, OpenAI chief technology officer Mira Murati said the company did not pattern any ChatGPT voices on Johansson's sultry computer voice in the movie.
"It says more about our imagination, our storytelling as a society than about the technology itself," Murati said. "The way we developed this technology is not based on the movie or a sci-fi story. We're trying to build these machines that can think and have robust understandings of the world."
"I don't know about the voice. I actually had to go and listen to Scarlett Johansson's voice," she said.
Asked about ChatGPT's flirtatious banter, Murati said the model merely responds to what people provide to it.
"It will react to how you're interacting with it," she said. "It's not preset. It's based on inputs," Murati said.
In its Sunday night blog post, OpenAI said that chatbot was developed with five voices that were produced after working closely with voice and screen actors.
"Looking ahead, you can expect even more options as we plan to introduce additional voices in ChatGPT to better match the diverse interests and preferences of users," the company wrote in the post.
A day after OpenAI's announcement, Google held its annual developer conference where it unveiled its own personal AI assistant, also voiced by a female, known as Project Astra. While similar, Google's version appeared far less quippy and playful and more matter of fact.
Together, experts say, the products provide a glimpse into the next generation of cutting-edge AI technology — and also raise questions about the risks that follow as more and more people adopt the tools.
Visar Berisha, an Arizona State University professor who studies AI speech technology, said it is hard to predict how advanced AI voice assistants that speak with human-like personalities will change society.
"Communication by voice is really intimate, really impactful. It allows the AI to express subtleties, things that are perceived as sincere, urgent, joy, concern," he said. "And all of these serve to foster a deeper connection between the user and machine. You can see how these interactions can potentially become addictive."
It's possible, Berisha said, that people will start forming emotional connections to AI systems, much like the plot of "Her" — a movie that does not end happily for the protagonist.
"When I first saw that movie it seemed like science fiction," Berisha said. "It doesn't seem like that now."
Copyright 2024 NPR
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https://www.publicradiotulsa.org/npr-national-news/2024-05-20/openai-pulls-ai-voice-that-was-compared-to-scarlett-johansson-in-the-movie-her
| 2024-05-20T22:31:44
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en
| 0.979525
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QUINCY, Fla. (WTXL) — Picking up the pieces to begin a new chapter: Champs Chance Animal Rescue was affected by a tornado that hit over a week ago.
Right now, they're heading to the drawing board to think and plan about the rescue's future.
Champs Chance has been a rescue for about two years now.
Since the tornado they are looking for more volunteers, foster homes and those who can adopt a pup.
Governor Ron DeSantis welcomed some of the pups in Tallahassee over the weekend.
Champs Chance owner Alicia Bopp tells me right now, they're looking towards the future and finding a place to move to rescue.
"We're looking for at least 10 acres. Preferably fenced, cleared. It needs to be zoned, commercial or agricultural for us to be able to do the rescue. Hopefully with a house on it because I won’t ever be where the pups are at one place and I’m in another."
Alicia says they still have damage, but they are up and running.
The rescue is grateful for the support they have gotten. Right now, they do need more hands to move debris and fix some of the cages on site, to be able to extend their reach to help more pups.
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https://www.wtxl.com/quincy/quincy-animal-rescue-looking-to-move-after-tornado-strike
| 2024-05-20T22:31:45
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en
| 0.965081
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When artist Max Arrington first drew Shrimp Jesus, he never dreamed an AI image of Jesus Christ with shrimp-like arms and legs would become a viral internet phenomenon.
"It's a tweet that I drew, and it's become a phenomenon really," Arrington, an artist from Scotland Neck, North Carolina, told Scripps News. "It was supposed to be like a joke drawing. But then I put it together and it kind of just blew up."
While Arrington started selling his digital art of Shrimp Jesus online two years ago, today you can see countless reiterations on Facebook that were generated by artificial intelligence.
What might have started off as a harmless joke is now a warning sign of captivating, clickbait AI-generated images taking over social media and gaming algorithms.
According to a recent report from the Stanford Internet Observatory, which studied 120 Facebook pages, these AI-generated images are used by spammers and scammers to lure in unsuspecting Facebook users. The report, which has not yet been peer-reviewed, defined spammers as "accounts that were pushing their audiences out to a content farm," and scammers as accounts that "were attempting either to sell products that do not appear to exist, had stolen the pages they operated, or were attempting to manipulate their audiences within the comments."
"Sometimes there are spammers and scammers who recognize that they can use this tool to make images — very heart-wrenching images — very easily, very cheaply," Renee DiResta, a technical research manager at the Stanford Internet Observatory who co-authored the report, told Scripps News.
"And they can use that to really draw people in, in hopes of either scamming them, such as by selling them a product that doesn't exist, or sending them to a content farm or some sort of manipulative website that then they have a kind of a negative experience with," said DiResta.
Scripps News reviewed thousands of Facebook posts with AI-generated images and found that many of them have high levels of engagement. And they're not just images of Shrimp Jesus.
"What you're seeing with a lot of this are images that could be real," DiResta said. For example, one image featured "an elderly woman with a birthday cake, and the post says something like, 'I baked it myself.'" Other posts repeatedly included phrases like "Nobody ever blessed me," or "Made it with my own hands," and encouraged Facebook users to "grade" their work.
"You'll see things that are trying to appeal to sympathy, or making people want to engage with the content," DiResta said.
Experts and researchers have called for better transparency from social media companies as AI-generated images increasingly show up on platforms.
According to the Stanford report, Facebook users are increasingly seeing content they do not follow or search for, also known as "unconnected posts." These posts have tripled from 2021 to 2023, growing from 8% of what users see in their feeds to 24%, according to the report, which cited Meta's "Widely Viewed Content Report."
DiResta says this is likely an outcome of Facebook competing with TikTok.
"If you open TikTok, you don't see posts only from people that you follow. It's constantly pushing you videos that it just thinks you're gonna like. And so other platforms are starting to do this also," she said.
Due to Facebook's algorithm, the more people engage with pages featuring AI-generated images on Facebook, the more likely their friends or the people they're connected to will see this content, too, DiResta said.
Artificial Intelligence
Growing concern that artificial intelligence could pose new cybersecurity threats
"And that's because the platform can intuit that there's some sort of either connection on the back end, or some sort of relationship between the pages," she said. "It's very common, even in the realm of completely normal activity, to go follow a page on cooking, and then you start to see gardening, and then you start to see jogging."
If a user, for example, engages with religious posts on Facebook, the algorithm could eventually recommend an AI-generated image of Shrimp Jesus. According to the Stanford Internet Observatory report, citing Meta's Transparency Center, a Facebook post with unlabeled AI images landed in the top 10 most-viewed pieces of content last year.
Meta, Facebook's parent company, announced earlier this year in February the company was working with industry partners on "common technical standards for identifying AI content, including video and audio."
"Scammers use every avenue available to them to defraud people and constantly adapt to evade enforcement," a Meta spokesperson told Scripps News. "Content that purposefully intends to deceive or exploit others for money violates our policies, and we remove this content when it's found."
Within a week after Scripps News questioned Meta about the Stanford Internet Observatory report, many of the highlighted posts were gone.
"We welcome more research into AI and cross-platform inauthentic behavior since deceptive efforts rarely target only one platform. We've reviewed the pages in this report and have taken action against those engaged in inauthentic behavior, and demoted the clickbait sites under our Content Distribution Guidelines," a Meta spokesperson said.
Meta said in Q4 2023 it removed 964 million pieces of spam content and 691 million fake accounts from Facebook. The tech giant also said it planned to add transparency labels to AI content users post on Facebook, Instagram and Threads in May.
Consumers, whether they're buying a product or using a social media platform, want transparency when it comes to AI images. According to a recent report from Getty Images, 90% of consumers globally want to know if an image was created using artificial intelligence.
These labels will be increasingly imperative. Not all AI images on Facebook or other social media platforms including Linkedin look like Shrimp Jesus; many of them appear hyper-realistic, save for some clues like extra hands or fingers.
"Some of the early ones were kids with displaying what was supposedly their art. And it would say, 'It's my child's first competition, what do you think,' right? And of course, the point there is to is to generate engagement, to get attention, and then to make the content hit more people," DiResta said.
"These kids don't exist. This art doesn't exist. But people were engaging," she added. "And then sometimes, some of the unscrupulous page owners were sending messages, direct messages to the people who were kind of falling for it."
As these AI-generated images, video and audio advance, and their creators perfect their craft, anyone is susceptible to their intended purpose — deceptive or not.
"Sometimes people use it for creation, but there's always some kind of dark side," DiResta said.
Not all AI images or art may have malicious intentions, but they will be harder to separate from digital art or even photos of real people if they're unlabeled.
"I think it's hard for a lot of people to see things and be able to make the distinction between digital art from a real artist and AI art," Sarah Frazier, a Florida-based artist who purchased a Shrimp Jesus artwork from Arrington, told Scripps News.
"For me it's listening to music made by computer versus music made by a musician," she added. "It's just different, one has real soul to it."
"I feel like it being used to scam people the way it is, is probably one of the biggest things we should take as a cautionary tale with AI art in all of this," Arrington said.
"But even as great as AI can create an image," he added. "I do think people will always want what they can tell their own kind made, when you can see that something has been made by hand."
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https://www.wtxl.com/science-and-tech/artificial-intelligence/a-cautionary-tale-how-clickbait-ai-images-like-shrimp-jesus-became-a-warning-against-scammers
| 2024-05-20T22:32:00
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en
| 0.976424
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A group of astronomers recently discovered a massive, cotton candy-like planet orbiting a distant star in the Milky Way.
The “fluffy oddball” of a planet is named WASP-193b and is 50% bigger than Jupiter — but only about a tenth of Jupiter’s density, according to a press release from the Massachusetts Institute of Technology.
“There’s a class of planets called puffy Jupiters, and it’s been a mystery for 15 years now as to what they are. And this is an extreme case of that class,” said lead study author and MIT postdoc Khalid Barkaoui in a statement.
WASP-193b is the second-lightest planet to be found out of the more than 5,400 planets that astronomers have discovered to date, MIT said.
However, it’s one of few planet discoveries that have the researchers stumped on how it was formed because of its unique size and weight combination, according to the article published in Nature Astronomy that outlines the discovery.
The new planet’s name is partially derived from how it was initially spotted — through an international collaboration called the Wide Angle Search for Planets, or WASP.
Barkaoui said it took four years for scientists to gather data on the planet because of how tiny the mass is. It’s believed the planet is mostly made of hydrogen and helium.
“The reason why it’s close to cotton candy is because both are mostly made of light gases rather than solids. The planet is basically super fluffy,” explained Barkaoui.
The coalition of astronomers from MIT and European institutions will continue to study the unique planet using different methods to learn more about its atmosphere and composition.
Space
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https://www.wtxl.com/science-and-tech/space/newly-discovered-planet-is-bigger-than-jupiter-but-as-light-as-cotton-candy
| 2024-05-20T22:32:06
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en
| 0.951186
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- More organizations will be out helping other neighborhoods on Tallahassee's Southside.
- Work continues after a tornado touched down here more than 10 days ago.
- Watch the video above to hear from neighbors and those working crews helping out in the community
BROADCAST TRANSCRIPT
More than a week after a tornado, work is still being done to cleanup some Tallahassee neighborhoods.
I'm Terry Gilliam your Southwest Tallahassee neighborhood reporter.
I'm checking in on crews lending a helping hand.
The sound of heavy machinery.
It still echoes throughout the Jake Gaither neighborhood Monday.
Work continues after a tornado touched down here more than 10 days ago.
"We heard a big thump and a tree fell on the house and that was it!"
Zyeedah Willis lives in the Jake Gaither neighborhood.
It's a storm she remembers well as she faces new challenges ahead.
"I need to move my van back! So, I went outside then I opened my door, backed up a little bit and the entire front windshield was broken."
Look at your screen. This is the windshield she's taking about… but there's more…
"I keep having those thoughts like oh my gosh, I can't believe a storm just came through here. I've been here for over 13 years, and I've never witnessed a storm like this."
Trees and power lines lay still on the ground after crashing on roofs and cars in my neighborhood.
I drove through the Jake Gaither neighborhood and found Tetra Tech.
"It's been fairly good today, we're not really tired yet. We're just getting started."
Latoya Black is a truck monitor for Tetra Tech.
The 2-person crew traveled all the way from Albany, Georgia to help neighbors move forward.
"They thank us for coming to pick up the trash for them. That makes you feel good as a person helping out the community."
Black tells me they've been out here in different communities on the Southside of town since May 10.
Neighbors like Willis tell me it was a pleasant surprise.
"Basically, they just showed up! They came out quickly."
I asked Willis what she has seen in efforts after the storm, and how she feels about it, she tells me…
"People just come together, and I just thank God!"
Crews have been out here since the tornado came through Tallahassee, and others plan to continue to do work. Red Cross will also be delivering goods to other Southside neighborhoods as well. In Southwest Tallahassee, I'm Terry Gilliam.
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https://www.wtxl.com/southwest-tallahassee/see-now-crews-still-working-to-help-neighbors-back-on-track-after-tornado
| 2024-05-20T22:32:12
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en
| 0.975882
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LOS ANGELES, May 20, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Autodesk, Inc. ("Autodesk" or the "Company") (NASDAQ: ADSK).
Class Period: June 1, 2023 – April 16, 2024
Lead Plaintiff Deadline: June 24, 2024
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Autodesk, Inc. lacked adequate internal controls as a result of issues with its free cash flow and non-GAAP operating margin practices; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles
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https://www.prnewswire.com/news-releases/adsk-investors-have-opportunity-to-lead-autodesk-inc-securities-fraud-lawsuit-302142655.html
| 2024-05-20T22:42:31
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en
| 0.922446
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LOS ANGELES, May 20, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Altimmune, Inc. ("Altimmune" or the "Company") (NASDAQ: ALT).
Class Period: December 1, 2023 – April 26, 2024
Lead Plaintiff Deadline: July 5, 2024
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Altimmune overstated the potential for pemvidutide to stand out from competing GLP-1 agonists based on the drug's efficacy and tolerability results observed in the MOMENTUM Trial; (2) accordingly, the MOMENTUM Trial results were less significant to pemvidutide's clinical, commercial, and competitive prospects than Defendants had led investors to believe; (3) as a result of all the foregoing, Defendants had overstated Altimmune's prospects for finding a strategic partner to develop pemvidutide; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles
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https://www.prnewswire.com/news-releases/alt-investors-have-opportunity-to-lead-altimmune-inc-securities-fraud-lawsuit-302150386.html
| 2024-05-20T22:42:37
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en
| 0.924127
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Musser is a provider of ESG-certified engineered biomass wood fiber products
CLEVELAND, May 20, 2024 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the recapitalization of Musser Biomass and Wood Products ("Musser" or the "Company"), a leading producer of premium ESG-certified reclaimed biomass wood fiber, by the Watermill Group. BGL's Engineered Materials, Building Products, and Energy Transition investment banking teams served as the exclusive financial advisor to Musser Biomass and Wood Products in the transaction.
Located in Rural Retreat, Virginia in the heart of the mid-Atlantic hardwood forest, Musser Biomass and Wood Products is an innovative processor and distributor of ESG-Certified reclaimed engineered biomass products including wood fiber, biochar, wood pellets, and wood briquettes. Using a state-of-the-art low-temperature drying technology, Musser produces a sustainable, differentiated, and uncontaminated fiber from landfill diverted waste for use in the building products sector as a key input in the manufacturing of composite wood products, residential and utility grade heating pellets and briquettes, livestock health applications, and other energy transition markets.
The recapitalization by the Watermill Group positions Musser for substantial growth in an emerging market with an opportunity to capitalize on a shift in evolving consumer preferences driven by sustainability, which includes increased outdoor living expenditures and a commercial preference for ESG-certified products.
BGL's Industrials Group has extensive global transaction experience and domain knowledge across a broad range of end markets, with a focus on engineered materials, green & cleantech, and energy transition. Our emphasis is on providing investment banking advisory services to middle-market companies that offer unique value propositions to their customers and exclusive product and service offerings.
To learn more about the state of M&A across the Industrial market, including how trends will shape the future landscape of building products M&A, download our most recent Industrials research reports: https://bit.ly/BGLIndustrialsResearch.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, Los Angeles, and New York, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 35 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, LLC, an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
SOURCE Brown Gibbons Lang & Company
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https://www.prnewswire.com/news-releases/bgl-announces-the-recapitalization-of-musser-biomass-and-wood-products-by-watermill-group-302150551.html
| 2024-05-20T22:42:43
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| 0.919353
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Acquisition Will Create a Unique and Purpose-Driven Community Business Bank To Service Two of the Largest Banking Markets in California
IRVINE, Calif. and OAKLAND, Calif., May 20, 2024 /PRNewswire/ -- CBC Bancorp, the holding company for Commercial Bank of California (CBC), announces it has entered into a definitive acquisition agreement with Bay Community Bancorp (OTC Pink: CBOBA), the holding company for Community Bank of the Bay (CBB). Under the terms of the agreement, CBC Bancorp will acquire Bay Community Bancorp in an all-cash transaction valued at $14.00 per common share. This acquisition merges institutions from two of California's largest banking markets, resulting in approximately $3.5 billion in combined assets.
"The alignment of our two institutions will create a unique banking franchise that better serves our employees and clients," said Ash Patel, chairman of the board, CEO and president of Commercial Bank of California. "Once we combine our two reputable banking platforms, it will create a transformative business bank with expanded product offerings driven by the purpose to serve our communities across California."
The acquisition of Bay Community Bancorp will transition Community Bank of the Bay to a privately held bank owned by a limited number of shareholders, and its shares will no longer be publicly traded. As a privately held bank, CBB will remain a division of Commercial Bank of California for the long term. This will empower both banks to grow in execution of CBC's core values of gratitude, respect, integrity, trust, courage, compassion and humility.
"This transaction brings together two complementary institutions with long standing ties to their communities, similar cultures and a relationship-based approach to banking," said William Keller, CEO of Community Bank of the Bay. "One of the many benefits of this combination is that the combined bank's greater scale will allow for increased investments in products and services that will directly benefit our clients and enhance productivity. This is the right move for the future of both institutions and we're excited to work together."
Community Bank of the Bay will maintain its name recognition and San Francisco Bay Area branch operations while officially becoming a division of Commercial Bank of California. The acquisition also capitalizes on CBC's successful business banking experience and pairs it with the unmatched community banking experience of CBB.
"Both of our banks are fully aligned regarding the important role that we can play to help our communities thrive," said Keller. "We're excited to collaborate with the CBC team and collectively make an ever bigger impact throughout California."
Commercial Bank of California and Community Bank of the Bay have each set up numerous programs to mentor future generations, volunteered thousands of hours, donated impactful funds and supported underserved business in their respective communities. CBB pioneered a new form of community development and reinvestment in California, and was the first financial institution to be certified as a Community Development Financial Institution (CDFI) in the state.
"Our goal is to maintain the legacies of both banks and increase our collective impact," said Mukhtar Ali, president and chief credit officer. "It's important to everyone that management remains local to each of the branches. This approach has served both banks' clients, team members and communities very well, and we do not want to disrupt that."
Community Bank of the Bay will form a new advisory board to maintain its community engagement while bank operations will be overseen by the existing Commercial Bank of California board of directors. Keller will serve as chairman and Ali will serve as president of the new CBB advisory board. Together, they will work to build out an advisory board of local leaders who align with the bank's mission.
The transaction is expected to close in late 2024 or early 2025 upon receipt of required regulatory approvals, shareholder approvals from CBC Bancorp and Bay Community Bancorp and the satisfaction of closing conditions. Raymond James & Associates Inc. served as financial advisor to CBC Bancorp and Husch Blackwell LLP acted as its legal advisor in the transaction. Janney Montgomery Scott LLC served as financial advisor to Bay Community Bancorp and Spierer, Woodward, Corbalis & Goldberg acted as its legal advisor in the transaction.
"We are excited to get started with the CBB team," said Patel. "Together we will build one of the best banking institutions in California with a focus on relationships, purpose, innovation and impact. We're officially on our purposeful journey to building a $5 billion bank!"
About Commercial Bank of California
Commercial Bank of California is a full-service bank and diversified financial services company serving the business and professional communities of Los Angeles and Orange counties. Recognized as a BauerFinancial, Inc. "Four-Star Excellent Bank" for its financial strength and stability, CBC provides the financial expertise of a major bank while maintaining a commitment to personalized service for every CBC client. CBC is heavily focused on community reinvestment and has been named one of So Cal's Best Places to Work in 2022 and 2023. For more information, please visit www.cbcal.com.
About Community Bank of the Bay
Bay Community Bancorp (OTCPink: CBOBA) is the parent company of Community Bank of the Bay, a San Francisco Bay Area commercial bank with full-service offices in Oakland, Danville, San Mateo and San Jose. Community Bank of the Bay serves the financial needs of closely held businesses and professional service firms, as well as their owner-operators and non-profit organizations throughout the San Francisco Bay Area. Community Bank of the Bay is a member of the FDIC, an SBA Preferred Lender, and a CDARS depository institution, headquartered in Oakland. It is also California's first FDIC-insured certified Community Development Financial Institution. The bank is recognized for establishing the Bay Area Green Fund to provide financing to sustainable businesses and projects and supports environmentally responsible values. Additional information on the bank is available online at www.BankCBB.com.
This report includes "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. All statements, other than statements of historical fact, included herein may constitute forward-looking statements. Although Commercial Bank of California 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. Important factors that could cause actual results to differ materially from Commercial Bank of California's expectations include fluctuations in interest rates, inflation, government regulations, and economic conditions and competition in the geographic and business areas in which Commercial Bank of California conducts its operations.
CONTACT:
Nicole Inal Hutchinson
[email protected]
949.521.3212
SOURCE CBC Bancorp
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https://www.prnewswire.com/news-releases/cbc-bancorp-announces-the-acquisition-of-bay-community-bancorp-302150591.html
| 2024-05-20T22:42:50
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| 0.955108
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WASHINGTON, May 20, 2024 /PRNewswire/ -- The Coalition for Fair Trade in Shopping Bags (the "Coalition") applauds the final determinations announced today by the United States Department of Commerce ("Commerce") that imports of paper shopping bags into the United States from Cambodia, China, Colombia, India, Malaysia, Portugal, Taiwan, and Vietnam are being sold at less than fair value (commonly termed "dumping") and that imports from China and India also are being subsidized. This follows an affirmative final finding of dumping announced in March with respect to imports of paper shopping bags from Turkey.
Commerce's investigations concerning these nine countries cover paper shopping bags with handles of any type, whether printed or unprinted. Paper shopping bags, which often are used to carry items purchased from a retail establishment or restaurant, typically are made of kraft paper but can be made from any type of paper material.
In its final determinations, Commerce concluded that imports of paper shopping bags from each of the nine countries are being unfairly traded. In particular, Commerce found combined dumping margins and subsidy rates of up to 308.13 percent. This means that U.S. importers of paper shopping bags from these countries will have to pay cash deposits to U.S. Customs and Border Protection ("Customs") based on the value of their future imports. For example, where a particular supplier has a dumping/subsidy rate of 60%, for every $100 of paper shopping bags imported from that supplier, importers will now have to begin paying $60 to U.S. Customs as cash deposits for future dumping duty liability. An importer's final liabilities – which could be higher or lower than the cash deposits paid at the time of importation – will not be known for some time, however, since the cash deposits are only estimates. This means that the final duty assessments can be amended during Commerce's annual administrative reviews.
A summary of the country- and company-specific rates is available on Commerce's website.
The International Trade Commission ("ITC") already has determined that the U.S. industry is materially injured by reason of unfairly traded shopping bags imported from Turkey, and an antidumping duty order against Turkey was published on May 9. In mid-June, the ITC will vote on whether imports from Cambodia, China, Colombia, India, Malaysia, Portugal, Taiwan, and Vietnam have also caused injury. If the ITC reaches the same finding as it already has with respect to Turkey, Commerce will then issue additional antidumping and countervailing duty orders on July 8.
The Coalition is represented in these actions by the law firm King & Spalding LLP. "The domestic manufacturing plants and U.S. workers greatly appreciate the hard work undertaken by Department of Commerce officials to evaluate the extent of unfair pricing practices from these countries," said Mike Taylor, a partner in the law firm of King & Spalding. "The dumping and subsidy findings validate the petitions that were filed last summer and should help restore fair competition to the U.S. market so that manufacturing plants and jobs can remain in the United States."
The Coalition intends actively to continue monitoring imports for unfairly traded paper shopping bags from other countries, and the Coalition also plans actively to coordinate with U.S. Customs to ensure that importers fully comply with their obligations. The importation of paper shopping bags from these nine countries without the payment of antidumping and countervailing cash deposits and duties may result in severe civil or criminal penalties.
About King & Spalding
King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1,300 lawyers in 24 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and consistently earns recognition for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.
SOURCE King & Spalding
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https://www.prnewswire.com/news-releases/commerce-department-finds-imports-of-paper-shopping-bags-unfairly-traded-302150580.html
| 2024-05-20T22:42:56
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| 0.960513
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NEW YORK, May 20, 2024 /PRNewswire/ -- The global e-book market size is estimated to grow by USD 12.40 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.08% during the forecast period.
For more insights on the forecast market size and historic data (2018 - 2022) - Download Free sample report in a minutes
Segment Overview
This e-book market report extensively covers market segmentation by
- Product
- 1.1 Consumer e-book
- 1.2 Professional e-book
- 1.3 Educational e-book
- Platform
- 2.1 Smartphones
- 2.2 Tablet and laptops
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Consumer e-book- The E-Book Market has experienced significant growth, with DC offering digital format becoming a preferred choice for consumers. Fiction genres, including adult literature and young adult literature, dominate sales in European countries. The influence of technology and digitization have led to the adoption of e-books as a low-cost alternative to actual books, particularly among millennial and Generation Z readers. Systems for digital education and immersive learning have further boosted the market's adoption. Latest hardware and software enable access to educational content and e-book libraries through online services. The advantages of e-books, such as portability and multilingual features, have contributed to their worldwide adoption. However, environmental protection campaigns highlighting the saving of trees and reducing paper use have also played a role. Despite these benefits, challenges persist, including IP infringement cases, content providers, and major book publishers like Hachette, Penguin Random House, Wiley, and HarperCollins, grappling with copyright violations through the Internet Archive and Open Library Project. Overall reader engagement remains high, with traditional delivery methods and e-lending continuing to coexist.
3.1 North America- The E-book Market in North America is experiencing significant growth due to technical development and the adoption of reading devices. With the US and Canada being the largest contributors, institutions are embracing the Bring Your Own Device (BYOD) policy, enabling digital literacy and cost savings. E-books offer advantages such as accessibility, lower costs, and interactive content. The global e-book market is driven by demand for multilingual features and e-book libraries. Online services provide a low-cost alternative to traditional delivery methods, including e-lending and worldwide adoption. Environmental protection campaigns save trees and reduce paper use, but IP infringement cases pose challenges for content providers, including major book publishers like Hachette, Penguin Random House, Wiley, and HarperCollins. Overall reader engagement is increasing, with e-books offering a real-time experience on electronic devices like smartphones and tablets. However, high-cost concerns persist, and digitization of books raises questions about copyright violations and open library projects. E-book sales continue to grow, offering convenient delivery and challenging the dominance of physical books and bookstores, which face shipping delays and competition from online retailers. E-book Market Trends include the use of electronic devices, portable devices, and smartphones, tablets, and the digitization of real-time experiences, as demonstrated by Marvel's digital comics.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report
Key Market Trends Fueling Growth
The e-book market is expanding due to the popularity of user-friendly formats like Mobi, EPUB, and KF8. EPUB, an IDPF standard based on XHTML, CSS, and XML, is favored by digital educational publishers for advanced features. E-books offer advantages such as multilingual support, convenience, and cost savings. Smartphones and tablets are driving adoption, with e-libraries and online services providing access to vast collections. Environmental campaigns promote e-books as a way to save trees and reduce paper use. Major publishers like Hachette, Penguin Random House, Wiley, and HarperCollins are embracing this trend, leading to increased reader engagement and sales.
Market Challenges
- The global e-book market faces significant challenges from copyright infringement and piracy, leading to substantial revenue losses for publishers. Factors contributing to e-book piracy include easy Internet access and free downloading software. Publishers in the US and Egypt report annual losses of USD300 million and USD16.8 million, respectively. Key players like Hachette, Penguin Random House, Wiley, and HarperCollins are affected. E-books offer convenience, but piracy undermines overall reader engagement and growth in the market. Technology influences this trend through digital education, immersive learning, and the use of electronic devices.
Research report provides comprehensive data on impact of trend, driver and challenges - Buy Report
Research Analysis
The E-Book market has experienced significant growth due to the adoption of smartphones and the availability of multilingual features on reading devices. E-book libraries and online services offer a low-cost alternative to traditional bookstores and physical books. E-lending and environmental protection campaigns save trees and reduce the need for paper production, addressing concerns over IP infringement cases involving content providers and major book publishers. The Internet Archive and Open Library project provide access to vast digital collections, offering a convenient delivery system and real-time experience in a digital format. The influence of technology on the E-Book market has led to immersive learning experiences, making it an essential component of modern education and overall reader engagement.
Market Research Overview
The E-Book market is a significant segment of the digital content industry, driven by the increasing popularity of digital reading devices and technologies. Tech devices like Kindle, Adaptive Vision Technologies, and Apple's iBooks store offer vast libraries of books, making reading more accessible and convenient than ever. Reading habits have evolved, with on-demand access to books, saving trees, and reducing physical storage space. Markets like Amazon and Google Books dominate the E-Book landscape, offering devices and digital content. Reding (sic) devices like the Nook, Kobo, and Google Books allow users to purchase, download, and read books instantly. The trending topic of e-books is a revolution in the publishing industry, with devices providing a paper-like reading experience, adaptive lighting, and long battery life. The adaptive content technology enables users to customize their reading experience, making it a preferred choice for avid readers. The cost-effective and eco-friendly nature of e-books has made them a popular choice for students and professionals alike. The future of the E-Book market looks promising, with advancements in technology and the increasing acceptance of digital content.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
- Consumer E-book
- Professional E-book
- Educational E-book
- Platform
- Smartphones
- Tablet And Laptops
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.
Contacts
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
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https://www.prnewswire.com/news-releases/e-book-market-size-is-set-to-grow-by-usd-12-40-bn-from-2024-2028--benefits-and-reader-engagement-of-e-books-to-boost-the-market-growth-technavio-302149694.html
| 2024-05-20T22:43:15
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| 0.901135
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NEW YORK, May 20, 2024 /PRNewswire/ -- The global functional food ingredients market size is estimated to grow by USD 53.14 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.38% during the forecast period.
For more insights on the forecast market size and historic data (2018 - 2022) - Download Free sample report in a minutes
Key Market Trends Fueling Growth
The global functional food ingredients market is driven by the rising demand for omega-3 fatty acids, with sources shifting from fish to algae, krill, and GM plants. Omega-3 aids in disease prevention and FDA approval of alternative sources fuels growth. Key trends include organic food, plant-based products, e-commerce, texture and stability improvement, and nutritional value enhancement. Applications span sauces, soups, baked goods, and pharmaceuticals. Technologies like high-pressure processing and microwave extraction are used for production. Other trends include vitamin D supplements, prebiotics, probiotics, and nutrigenomics for various health conditions.
Market Challenges
- The global functional food ingredients market growth is challenged by high costs of functional foods, including nutraceuticals and medical foods. Prices are 30%-500% higher due to distribution, storage, and transportation expenses, complex extraction processes. Key trends include demand from chronic diseases, micronutrient deficiencies, and health-conscious consumers for ingredients like antioxidants, probiotics, fibers, vitamins, and minerals. Regulations, technological advancements, and the animal feed industry also impact the market.
Research report provides comprehensive data on impact of trend, driver and challenges - Buy Report
Segment Overview
This functional food ingredients market report extensively covers market segmentation by
- Product
- 1.1 Probiotics and prebiotics
- 1.2 Proteins and amino acid
- 1.3 Dietary fibers
- 1.4 Vitamins and minerals
- 1.5 Others
- Application
- 2.1 Food and beverages
- 2.2 Pharmaceuticals
- 2.3 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and Africa
- 3.5 South America
1.1 Probiotics and prebiotics- The functional food ingredients market in 2023 is primarily driven by the probiotics and prebiotics segment, with chronic diseases and micronutrient deficiencies fueling the demand. The middle class and government fortification programs are key consumers, while technological conditions and legislative regulations shape market trends. Probiotic strains like Lactobacillus, Bifidobacterium, and Enterococcus, found in yogurt, buttermilk, and Greek yogurt, are in focus due to their health benefits. International food regulations ensure safety and quality of minerals, fiber, vitamins, flavonoids, and other nutrients, including conjugated linolenic acid, beta-carotene, lutein, zeaxanthin, quercetin, kaempferol, catechins, and anthocyanidins. Antioxidant and anti-inflammatory properties are sought after for energy drinks, proteins in sports drinks, and creatine, branch-chained amino acids for health-conscious consumers. Fibers, amino acids, and probiotic ingredients are essential for the dietary supplements and animal feed industries. Technology advances in probiotic strains improve gut health, immune system, and cognitive function. Probiotic supplements and clean labels are consumer preferences. Allergies and plant-based proteins are also market considerations.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report
Research Analysis
The Functional Food Ingredients Market encompasses a wide range of components derived from High-hydrostatic pressure, Ultrasound-assisted extraction, Microwave-assisted extraction, Pulsed electric field, and Supercritical fluids. These techniques are employed to extract Carotenoids, such as Beta-carotene, Lutein, and Zeaxanthin, as well as Minerals, Fiber, Vitamins, Flavonoids like Quercetin, Kaempferol, Catechins, and Anthocyanidins, and Conjugated linolenic acid. These ingredients play a crucial role in addressing Chronic diseases and Micronutrient deficiencies, particularly among the Middle class. Government fortification programs and Technological conditions facilitate the production and distribution of Fortified food. However, Legislative regulations and International food regulations must be adhered to ensure safety and efficacy. Probiotic strains are also gaining popularity in the market for their health benefits.
Market Research Overview
The Functional Food Ingredients Market encompasses a wide range of products derived from various sources, including probiotics, proteins, and carbohydrates. These ingredients offer numerous health benefits, such as improving digestive health, enhancing muscle growth, and reducing inflammation. Nutrients like carotenoids, flavonoids, and omega-3 fatty acids are also integral to this market. Cardiovascular health is a significant focus, with fibers and antioxidants playing crucial roles. The market is driven by consumer preferences for healthier options and the increasing awareness of the connection between diet and overall wellness. Ultrasonic processing, fermentation, and other advanced technologies are used to extract and preserve these functional ingredients, ensuring their efficacy and bioavailability. The market is expected to grow significantly due to the rising demand for functional foods and beverages, as well as the increasing acceptance of natural and organic products.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
- Probiotics And Prebiotics
- Proteins And Amino Acid
- Dietary Fibers
- Vitamins And Minerals
- Others
- Application
- Food And Beverages
- Pharmaceuticals
- Others
- Geography
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.
Contacts
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
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https://www.prnewswire.com/news-releases/functional-food-ingredients-market-size-is-set-to-grow-by-usd-53-14-bn-from-2024-2028--increased-demand-for-functional-food-ingredients-from-probiotics-segment-to-boost-the-market-growth-technavio-302149683.html
| 2024-05-20T22:43:21
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en
| 0.901863
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AUSTIN, Minn., May 20, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced its quarterly dividend on the common stock, authorized by the Board of Directors at 28.25 cents ($0.2825) a share on May 20, 2024, will be paid August 15, 2024, to stockholders of record at the close of business on July 15, 2024.
The August 15 payment will be the 384th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend without interruption.
ABOUT HORMEL FOODS — Inspired People. Inspired Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $12 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters®, SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin's®, WHOLLY®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report, one of America's most responsible companies by Newsweek, recognized on Fast Company's list of the 100 Best Workplaces for Innovators, received a perfect score of 100 on the 2023–24 Corporate Equality Index and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com.
CONTACT:
Investor Relations
[email protected]
Media Relations:
[email protected]
SOURCE Hormel Foods Corporation
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https://www.prnewswire.com/news-releases/hormel-foods-corporation-declares-quarterly-dividend-302150536.html
| 2024-05-20T22:43:27
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en
| 0.950617
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Introducing Luvme Hair's My Go-To Bob Collection - Effortless and Hassle-Free
NEW YORK, May 20, 2024 /PRNewswire/ -- Luvme Hair, a leading brand in the human hair wigs industry, has announced the creation of the My Go-To Bob collection, an innovative and hassle-free collection designed to elevate convenience, style, and comfort. Tailored to meet the needs of customers seeking natural aesthetics and versatile styling options, this collection sets a new standard for a hassle-free wig-wearing experience.
The My Go-To Bob collection redefines hassle-free hairstyling, ensuring a seamless "put on and go" experience without compromising on a polished look. The bobs in this collection require no additional styling, guaranteeing a ready-to-seize-the-day appearance straight out of the box.
"We understand the demands of today's fast-paced lifestyle," says Helena Lee, founder of Luvme Hair. "Our goal with the My Go-To Bob collection was to create a product that effortlessly complements the dynamic lifestyles of our customers. With the best hair quality ensured, you can effortlessly style your hair every day. Classic, high-quality, and fashionable – these are absolute must-haves in any hair wardrobe."
The key features of the My Go-To Bob collection include:
- Glueless: No glue is required.
- Ready-to-Go: Ready to wear out of the box, saving time and effort.
- Easy to Manage: Maintain the desired look with minimal effort.
- Pre-Plucked Natural Hairline: Seamlessly blends with natural hairline for a natural appearance.
- Clean Tiny Knots Scalp-Perfect: Enhances the overall look with a natural scalp appearance.
- Natural, Soft, Voluminous: Luxurious hair that looks and feels voluminous.
The My Go-To Bob Wig collection is now available for purchase at Luvme Hair's official website https://shop.luvmehair.com/.
About Luvme Hair
Luvme Hair is a reputable brand in the hair industry, known for its high-quality human hair, glueless wigs, HD lace wigs, PartingMax Glueless Wigs, PreMax Wigs, Bob Wigs, and wigs that allow individuals to effortlessly switch up their looks. With a focus on innovation, creativity, quality, and customer satisfaction, Luvme Hair has garnered a loyal customer base globally, with over 1 million satisfied customers all over the world. For more information about Luvme Hair and its products, please visit their official website at https://shop.luvmehair.com/.
SOURCE Luvme Hair
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https://www.prnewswire.com/news-releases/introducing-luvme-hairs-my-go-to-bob-collection---effortless-and-hassle-free-302150568.html
| 2024-05-20T22:43:33
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en
| 0.923064
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MBUU Investors Have Opportunity to Lead Malibu Boats, Inc. Securities Fraud Lawsuit
BENSALEM, Pa., May 20, 2024 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Malibu Boats, Inc. ("Malibu Boats" or the "Company") (NASDAQ: MBUU).
Class Period: November 4, 2022 – April 11, 2024
Lead Plaintiff Deadline: June 28, 2024
Investors suffering losses on their Malibu Boats investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 215-638-4847 or by email to [email protected].
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that Malibu Boats engaged in an "elaborate scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow moving boat inventory into fifteen Tommy's dealerships"; (2) that, as a result, the Company artificially inflated Malibu's sales performance, market share, and stock value; (3) that the Company was withholding certain incentives and rebates from its dealers; (4) that, as a result of the foregoing, the Company faced substantial risk of litigation from one of its top dealers, Tommy's; (5) that the Company's CEO departed due to this role in this scheme; and (6) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
SOURCE Law Offices of Howard G. Smith
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https://www.prnewswire.com/news-releases/mbuu-investors-have-opportunity-to-lead-malibu-boats-inc-securities-fraud-lawsuit-302150389.html
| 2024-05-20T22:43:45
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| 0.93402
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RONAN, Mont., May 20, 2024 /PRNewswire/ -- Montana Technologies Corporation (NASDAQ: AIRJ) ("Montana Technologies"), the developer of AirJoule®, a transformational atmospheric thermal energy and water harvesting technology, today announced its first quarter results.
Key Highlights
- Closed business combination (the "Business Combination") with Montana Technologies LLC ("Legacy Montana") and renamed the combined company "Montana Technologies Corporation"
- $50 million minimum cash condition was exceeded by securing private investments led by Carrier Global Corporation ("Carrier"), Rice Investment Group, and GE Vernova, among other third parties (the "Capital Raise")
- Upon completion of the Business Combination, Montana Technologies' common stock and warrants began trading on the Nasdaq Capital Market under new ticker symbols "AIRJ" and "AIRJW," respectively
- Formed a joint venture with GE Vernova to advance and commercialize transformational air conditioning and atmospheric water harvesting products featuring AirJoule® technology
- The joint venture is led by Bryan Barton, formerly the Senior Director of Marketing, Ventures, and Incubation at GE Vernova
- Entered into joint commercialization agreement term sheets with Carrier to develop and commercialize the AirJoule® dehumidifying and cooling technology for heating, ventilation, and air conditioning ("HVAC") solutions in the Americas, Europe, India, and the Middle East
- Ended the quarter with $37 million of cash on the balance sheet
Executive Commentary
Matt Jore, Chief Executive Officer of Montana Technologies stated, "We are excited to have completed our Business Combination and for Montana Technologies to be listed on Nasdaq. This represents a critical milestone for the company and will enable us, along with our strategic partners, to focus on developing and deploying our atmospheric thermal energy and water harvesting systems worldwide as a response to climate change and water scarcity. In addition, the recently announced partnerships with GE Vernova and Carrier showcase how our proprietary AirJoule® technology has been embraced by industry leaders; these partnerships will open our company and technology into two enormous target markets, HVAC and atmospheric water harvesting. We believe these actions place the company on a path to create a more equitable and sustainable future by fundamentally changing how we optimize increasingly scarce energy and water resources to create a better quality of life for all."
Pat Eilers, Executive Chairman, stated, "Montana Technologies met the core criteria of a clean tech solutions provider we were searching for when we started the process with Power & Digital Infrastructure Acquisition II Corp. Montana Technologies, through its proprietary AirJoule® units, has created a transformational technology that provides significant energy efficiency gains in HVAC and atmospheric water harvesting applications, and it addresses two of the world's most problematic issues, energy efficiency and water scarcity. We are thrilled to have completed this transaction, and I am excited to take on the role of Executive Chairman. I look forward to partnering with our newly announced management team to deliver value in the public markets."
Commercialization Agreement with Carrier
On January 8, 2024, Legacy Montana and Carrier, a global leader in intelligent climate and energy solutions, announced that they had entered into a binding term sheet related to a commercial collaboration to develop and commercialize the AirJoule® dehumidification and cooling technology. Subject to certain milestones, Legacy Montana granted Carrier the exclusive right to commercialize the AirJoule® technology into HVAC equipment in the Americas for a period of three years. Legacy Montana, acting through an affiliated joint venture, also provided Carrier with a non-exclusive right to commercialize the AirJoule® technology into HVAC equipment in Europe, India, and the Middle East.
Carrier also committed $10 million in growth equity to Legacy Montana, which was conditional upon the successful raise of at least $50 million in aggregate capital commitments. This condition was achieved with the successful Capital Raise that occurred in conjunction with the closing of the Business Combination in March 2024. Following the Business Combination, Montana Technologies expanded its Board of Directors with the appointment of Ajay Agrawal, Senior Vice President, Global Services, Business Development and Chief Strategy Officer at Carrier.
Joint Venture Agreement with GE Vernova
On January 29, 2024, Legacy Montana announced an agreement to form a joint venture with GE Vernova, a global leader in electrification, decarbonization, and energy solutions, to incorporate GE Vernova's proprietary sorbent materials into systems that utilize Montana's patented AirJoule® dehumidification, air conditioning, and atmospheric water harvesting technology.
The AirJoule® technology utilizes advanced sorbents and a self-regenerating pressure swing adsorption system to harvest thermal energy and pure water from air. GE Vernova, a recognized leader in the development of advanced materials technology for industrial systems, also seeks to deploy novel sorbent-based solutions that can enable a zero-carbon emissions future. Incorporating GE Vernova's sorbent innovations into AirJoule® technology will enhance the performance of the joint venture's energy-saving HVAC components as well as its atmospheric water harvesting products.
The joint venture closed on March 4, 2024. In addition, GE Vernova made an equity investment in Montana Technologies in conjunction with the Capital Raise. GE Vernova's Advanced Research team is providing support to the joint venture's R&D function, and Bryan Barton, formerly the Senior Director of Marketing, Ventures, and Incubation at GE Vernova, joined the joint venture full-time as its Chief Executive Officer. Dr. Barton is currently focused on expanding the joint venture team, advancing AirJoule® prototypes, and managing initial pilot projects with key potential customers for the HVAC components and atmospheric water harvesting products.
Completion of Business Combination
On March 14, 2024, Power & Digital Infrastructure Acquisition II Corp. ("XPDB") completed the Business Combination with Legacy Montana, which was originally announced on June 5, 2023. Upon completion of the Business Combination, the combined entity was renamed "Montana Technologies Corporation," and its common stock and warrants began trading on the Nasdaq Capital Market under new ticker symbols "AIRJ" and "AIRJW", respectively.
In conjunction with the Business Combination, the Capital Raise, led by investments from Carrier, the Rice Investment Group, and GE Vernova, and, together with amounts from XPDB's trust account, exceeded the $50 million cash required to satisfy the related closing condition.
Recent Additions to the Board of Directors and Management Team
As part of the XPDB shareholder approval of the Business Combination, XPDB shareholders elected the following individuals as directors of Montana Technologies:
- Pat Eilers, Founder and Managing Partner of Transition Equity Partners;
- Max Baucus, Former Ambassador to China and Six-Term United States Senator from the State of Montana;
- Paul Dabbar, Former Undersecretary of the Department of Energy for Science and current Chief Executive Officer and Co-Founder of Bohr Quantum Technology;
- Matt Jore, Chief Executive Officer of Montana Technologies;
- Stu Porter, Founder, Chief Executive Officer and Chief Investment Officer of Denham Capital; and
- Marwa Zaatari, Founder and Chief Scientist of D-Zine Partners
Subsequent to the completion of the Business Combination, the following individuals were appointed as directors of Montana Technologies:
- Ajay Agrawal, Senior Vice President, Global Services, Business Development and Chief Strategy Officer at Carrier Global Corporation; and
- Kyle Derham, Partner at Rice Investment Group
On May 7, 2024, Montana Technologies named Pat Eilers as Executive Chairman and appointed the following executives to its management team:
- Stephen Pang, Chief Financial Officer;
- Chad MacDonald, Chief Legal Officer; and
- Tom Divine, Vice President, Investor Relations and Finance
Quarterly Report on Form 10-Q
Montana Technologies' financial statements and related footnotes will be available in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, which is expected to be filed with the Securities and Exchange Commission on May 20, 2024.
Investor Update Webcast
Montana Technologies has provided investors with an earnings call webcast. Interested parties may view the webcast by visiting the investor section of Montana Technologies' website at www.mt.energy and clicking on the webcast link.
About Montana Technologies Corporation
Montana Technologies Corporation is a publicly traded company that holds the intellectual properties that make up the AirJoule® system, an atmospheric thermal energy and water harvesting technology that provides efficient and sustainable air conditioning and pure water from air. For more information, visit www.mt.energy.
Forward Looking Statements
The information in this press release includes "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. All statements, other than statements of present or historical fact included in this press release, regarding Montana Technologies and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words "could," "may," "will," "should," "anticipate," "believe," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Montana Technologies expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release.
Montana Technologies cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond Montana Technology's control. These risks include, but are not limited to, our status as an early stage Company with limited operating history, which may make it difficult to evaluate the prospects for our future viability; our initial dependence on revenue generated from a single product; significant barriers we face to deploy our technology; the dependence of our commercialization strategy on our relationships with BASF, CATL, Carrier, GE Vernova, and other third parties history of losses, and the other risks and uncertainties described under the heading "Risk Factors" in our SEC filings including in our Registration Statement (See Risk Factors) on Form S-1 filed with the Securities and Exchange Commission (the "SEC") on April 11, 2024. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Montana Technology's SEC Filings are available publicly on the SEC's website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
Contacts
Investor Relations
Tom Divine – Vice President, Investor Relations and Finance
[email protected]
Media:
Kekst CNC
[email protected]
SOURCE Montana Technologies
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https://www.prnewswire.com/news-releases/montana-technologies-announces-first-quarter-2024-results-302150567.html
| 2024-05-20T22:43:51
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| 0.937997
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PHOENIX, May 20, 2024 /PRNewswire/ -- U-Box® Load Share, the latest green initiative from U-Haul® to support today's gig economy, is a 2024 Champions of Change honoree.
U-Haul was among 10 finalists recognized as the "Most Innovative" companies on May 16 at the DoubleTree Resort in Paradise Valley, thanks to its implementation of the groundbreaking Load Share program.
The Champions of Change awards are hosted by Az Business Magazine, an AZ Big Media publication, to celebrate dynamic innovators and trailblazers, visionary thinkers and philanthropists, and business and nonprofit leaders across Arizona.
"Being named a Champion of Change is a great honor, and it's further affirmation that U-Box Load Share is needed in today's economy," said Sam Shoen, U-Box Program Director. "The environmental impact of Load Share is very real, and our customers appreciate that along with the many other benefits. We are providing a safe, collaborative way to engage in smarter and greener moving solutions."
This is the latest in a line of commendations for U-Box Load Share. In December, it was named the 2023 Best in Biz Awards gold winner for Most Environmentally Friendly Service of the Year. It also earned silver awards for Most Innovative Service of the Year and Consumer Service of the Year.
That comes on the heels of winning 2022 Sustainability Service of the Year from The Business Intelligence Group and being named a 2022 Social Impact Awards finalist by PR News.
How does U-Box Load Share work?
A Load Share occurs when a family moving its belongings in a U-Haul truck agrees to tow a trailer loaded with another family's U-Box portable moving container to the same destination city. Each transaction is monitored and managed by centralized U-Haul personnel. A vetting process is used to pre-select potential candidates, with priority on those customers with previous rental truck and towing experience.
When a Load Share is performed, the cost savings from not needing to contract a freight tractor-trailer for the U-Box shipment is allocated in three ways:
- A discount to the U-Haul truck rental customer's rate
- Lower one-way rates charged to all U-Box customers
- Funding newer and safer equipment, and retrofitting existing equipment with improved safety and convenience features
The unique thing about U-Box Load Share is that it is not intended nor designed to make U-Haul a profit. It was created to facilitate people helping people and benefit the environment. To date, more than 35,000 Load Shares have been completed.
Shared Use, Shared Responsibility
Allan Yang, U-Haul Chief Sustainability Officer and Scientist, noted that awards for U-Box Load Share underline the Company's commitment to sustainability, decarbonization and industry-defining innovation.
"U-Haul is a shared-use business," Yang stated. "Our shared-use products and services not only address the challenges of resource efficiency, but also cultivate a sense of community among our sustainability stakeholders. By pooling resources and optimizing the towing capacity of trucks, U-Box Load Share brings forth a paradigm shift towards sustainable and shared mobility."
Beyond U-Box Load Share, U-Haul environmentally friendly initiatives include the Company's core model of having communities share a moving truck or trailer rather than individuals needing to own trucks and large-capacity vehicles to transport their belongings; U-Haul Adaptive Reuse, a program for preserving and repurposing existing buildings for new stores rather than engaging in teardowns and ground-up projects with each acquisition, thus reducing carbon emissions and the need for new-building materials (about 70% of U-Haul-owned facilities are the result of Adaptive Reuse); U-Haul truck modifications to incorporate a low profile, rounded corners and advanced chassis skirts to reduce wind drag and improve fuel economy up to 20% (in addition to fuel economy gauges in every new-production U-Haul truck); and green products like plastic U-Haul Ready-To-Go Boxes® that get shared hundreds of times before being recycled.
About U-HAUL
Founded in 1945, U-Haul is the No. 1 choice of do-it-yourself movers with more than 23,000 rental locations across all 50 states and 10 Canadian provinces. The enhanced U-Haul app makes it easier for customers to use U-Haul Truck Share 24/7 to access trucks anytime through the self-dispatch and self-return options on their smartphones through our patented Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to 192,200 trucks, 138,500 trailers and 44,500 towing devices. U-Haul is the third largest self-storage operator in North America with 967,000 rentable units and 83.3 million square feet of self-storage space at owned and managed facilities. U-Haul is the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry. Get the U-Haul app from the App Store or Google Play.
Contact:
Jeff Lockridge
E-mail: [email protected]
Phone: 602-760-4941
Website: uhaul.com
SOURCE U-Haul
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https://www.prnewswire.com/news-releases/most-innovative-companies-u-haul-honored-for-u-box-load-share-program-302150597.html
| 2024-05-20T22:43:57
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| 0.928652
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LOS ANGELES, May 20, 2024 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Plug Power Inc. ("Plug" or the "Company") (NASDAQ: PLUG).
Class Period: March 1, 2023 – January 16, 2024
Lead Plaintiff Deadline: May 21, 2024
If you wish to serve as lead plaintiff of the Plug lawsuit, you can submit your contact information at www.glancylaw.com/cases/Plug-Power-Inc-2/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Plug overstated its ability and/or efforts to mitigate the negative impacts that, inter alia, supply chain constraints and material shortages could have or were having on the Company's hydrogen business, as well as the sufficiency of its cash and capital to fund its operations; (2) Plug continued to experience delays related to its green hydrogen production facility build-out plans, as well as in securing external funding sources to finance its growth plans; (3) Plug downplayed the true scope and severity of all the foregoing when these issues were eventually revealed; (4) as a result of all the foregoing, Plug also overstated the near-term prospects of its hydrogen production operations, as well as the viability of expanding those operations; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Follow us for updates on LinkedIn, Twitter, or Facebook.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
SOURCE Glancy Prongay & Murray LLP
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https://www.prnewswire.com/news-releases/plug-investors-have-opportunity-to-lead-plug-power-inc-securities-fraud-lawsuit-302150374.html
| 2024-05-20T22:44:10
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| 0.943346
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SHLS Investors Have Opportunity to Lead Shoals Technologies Group, Inc. Securities Fraud Lawsuit
BENSALEM, Pa., May 20, 2024 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Shoals Technologies Group, Inc. ("Shoals" or the "Company") (NASDAQ: SHLS).
Class Period: January 27, 2021 – May 7, 2024
Lead Plaintiff Deadline: May 21, 2024
Investors suffering losses on their Shoals investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 215-638-4847 or by email to [email protected].
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Shoals did not deliver EBOS products that met the highest levels of quality and reliability; (2) Shoals had received reports of exposed copper conduit in EBOS wire harnesses in a large number of solar fields and was aware that a significant portion of its wire harnesses had defects; (3) Shoals would have to incur between $60 million to $185 million in costs to remediate the wire shrinkback issue; and (4) Shoals had understated its cost of revenue by millions of dollars; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
SOURCE Law Offices of Howard G. Smith
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https://www.prnewswire.com/news-releases/shls-investors-have-opportunity-to-lead-shoals-technologies-group-inc-securities-fraud-lawsuit-302150380.html
| 2024-05-20T22:44:22
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en
| 0.943542
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SPT Investors Have Opportunity to Lead Sprout Social, Inc. Securities Fraud Lawsuit
BENSALEM, Pa., May 20, 2024 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Sprout Social, Inc. ("Sprout Social" or the "Company") (NASDAQ: SPT).
Class Period: November 2, 2023 – May 2, 2024
Lead Plaintiff Deadline: July 12, 2024
Investors suffering losses on their Sprout Social investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 215-638-4847 or by email to [email protected].
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) the Company's sales and revenue growth were not indicative of the Company's growth as it transitioned to an enterprise sales cycle; (2) that the Company faced integration challenges with its acquisition of Tagger; (3) as a result, the Company was "self inducing sales headwinds;" (4) as a result, the Company would revise fiscal year 2024 revenue guidance; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
SOURCE Law Offices of Howard G. Smith
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https://www.prnewswire.com/news-releases/spt-investors-have-opportunity-to-lead-sprout-social-inc-securities-fraud-lawsuit-302150378.html
| 2024-05-20T22:44:28
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en
| 0.932465
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SAN MATEO, Calif., May 20, 2024 /PRNewswire/ -- Talphera, Inc. (Nasdaq: TLPH), ("Talphera"), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings, today announced that the Board of Directors of Talphera has granted inducement awards consisting of a non-statutory time-based stock option to purchase 185,000 shares of common stock and a time-based restricted stock unit award for 32,000 shares of common stock on May 20, 2024 to Dr. Shakil Aslam in connection with his appointment as the Chief Development Officer of Talphera in May 2024.
The non-statutory stock option grant has an exercise price per share equal to $1.08, the closing price of Talphera's common stock on May 20, 2024, which will vest as to 25% of such shares on May 20, 2025, with the remainder vesting in equal monthly installments over the subsequent three-year period, subject to Dr. Aslam's continuous service on each vesting date. The time-based restricted stock units will vest over three years, with 1/3 of the underlying shares of common stock vesting on May 20, 2025, and the remainder vesting in equal annual installments over the subsequent two-year period, subject to Dr. Aslam's continuous service on each vesting date.
The Board of Directors, acting through a majority of the independent directors, approved the equity awards as an inducement material to Dr. Aslam's employment in accordance with Nasdaq Listing Rule 5635(c)(4). The terms of the inducement awards are governed by Talphera's 2020 Equity Incentive Plan but are made outside of such plan.
About Talphera, Inc.
Talphera, Inc. is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings. Talphera's lead product candidate, Niyad™ is a lyophilized formulation of nafamostat and is currently being studied under an investigational device exemption (IDE) as an anticoagulant for the extracorporeal circuit, and has received Breakthrough Device Designation status from the U.S. Food and Drug Administration (FDA). Talphera is also developing two pre-filled syringes in-licensed from its partner Aguettant: Fedsyra™, a pre-filled ephedrine syringe, and PFS-02, a pre-filled phenylephrine syringe.
This release is intended for investors only. For additional information about Talphera, please visit www.talphera.com.
SOURCE Talphera, Inc.
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https://www.prnewswire.com/news-releases/talphera-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-302150548.html
| 2024-05-20T22:44:34
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en
| 0.948889
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First Trust Equity Edge Index added to Transamerica Structured Index Advantage Annuity's index lineup
BALTIMORE, May 20, 2024 /PRNewswire/ -- Today Transamerica announced a new collaboration with FT Indexing Solutions LLC ("First Trust") that adds the First Trust Equity Edge Index™ to the popular and innovative Transamerica Structured Index Advantage® Annuity.
The new equity index option, Equity First Trust Edge (Nasdaq: FTEQUEDGE), is exclusively available through Transamerica's registered index-linked annuity. The index provides additional exposure to U.S. equities that exhibit high quality and value, consistent with a balanced investment approach.
"We are excited to work with an experienced manager like First Trust to offer customers and distribution partners access to an index that helps address key retirement challenges facing Americans today," said Liza Tyler, Transamerica's head of annuity solutions. "First Trust Equity Edge provides investors with access to growth potential with limits to downside risk, which is consistent with Transamerica's mission to help people make the most of what's important to them."
Adding the index enhances Transamerica Structured Index Advantage Annuity's ability to help investors seeking growth through a diverse range of indexes as well as protection buffers to limit downside market risk. The annuity is a cost-effective solution that reinforces Transamerica's commitment to helping everyday Americans who are saving to live their best lives in retirement.
Transamerica's Structured Index Advantage Annuity already has been extremely popular with customers, surpassing $1 billion in sales in its first two years.
"We believe that partnering with First Trust will accelerate our growth momentum with its talented distribution force," said Jonathan Cressman, vice president and managing director for annuities wholesale distribution for Transamerica.
First Trust is a leading exchange traded funds provider with access to a large network of financial advisors. With $200 billion in assets under management, First Trust will provide exposure to 300 wholesalers and 87,000 financial advisors who can partner directly with Transamerica wholesalers in distributing the custom index.
The First Trust Equity Edge Index stands out for its unique blend of U.S. equities that demonstrate high quality and value. This innovative approach, which combines two equally weighted methodologies, is sourced from the Value Line Dividend Index™, a benchmark of the highest-yielding stocks in the Value Line universe, and the Nasdaq U.S. Rising Dividend Achievers™ Index, which tracks companies with a history of increasing dividends. This ensures that clients have access to a mix of investments to navigate various market conditions.
About Transamerica
With a history that dates back more than 100 years, Transamerica is a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Transamerica's dedicated professionals focus on helping people live their best lives through saving, investing, and protecting their loved ones. Transamerica is dedicated to building America's leading middle market life insurance and retirement company, with unique access to the large and growing middle market consumer via World Financial Group and US retirement recordkeeping. Transamerica provides a broad range of quality individual life insurance policies, workplace supplemental insurance benefits, workplace retirement plans, individual retirement accounts, and investment products including mutual funds, annuities, stable value solutions, as well as investment management services.
In 2023, Transamerica fulfilled its promises to customers, paying more than $47 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica's head office is in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa, and Denver, Colorado. Transamerica is part of the Aegon group of companies. Each Aegon company is solely responsible for its own financial conditions and contractual obligations. Based in the Netherlands, Aegon is an international financial services holding company.
For more information, visit www.transamerica.com.
Annuities issued in all states except New York by Transamerica Life Insurance Company, Cedar Rapids, Iowa. Annuities are underwritten and distributed by Transamerica Capital, Inc., 1801 California St., Suite 5200, Denver, CO 80202, FINRA member. References to Transamerica may pertain to one or all of these companies.
Registered Index-Linked Annuities are long-term, tax-deferred vehicles designed for retirement purposes and are not for everyone. They are subject to possible loss of principal and earnings due to market fluctuation, investment risks as a result of fees and charges under the policy including surrender charges, other transaction charges, and periodic charges.
A current prospectus for this product should either precede or accompany this material. Before investing, consider the investment objectives, risks, charges and expenses carefully before investing. Go to transamerica.com for prospectuses containing this and other information. Please read carefully.
Withdrawals of taxable amounts are subject to ordinary income tax and may be subject to a 10% additional federal tax if withdrawn before age 59½.
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SOURCE Transamerica
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| 2024-05-20T22:44:40
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NEW YORK, May 20, 2024 /PRNewswire/ -- The global travel vaccines market size is estimated to grow by USD 3.97 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.64% during the forecast period.
For more insights on the forecast market size and historic data (2018 - 2022) - Download Free sample report in a minutes
Segment Overview
This travel vaccines market report extensively covers market segmentation by
- Disease Type
- 1.1 Influenza
- 1.2 Diptheria
- 1.3 Hepatitis
- 1.4 Typhoid and others
- End-user
- 2.1 Adult vaccines
- 2.2 Pediatric vaccines
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Influenza- The Travel Vaccines Market experiences robust growth, driven by the rising incidence of diseases such as influenza during vacations and medical tourism. Microbes and pathogenic organisms pose health hazards for travellers, necessitating immunization against various diseases. Vaccines, including attenuated organisms and bio-based drugs, play a crucial role in building immunity against illnesses like influenza, Dengue fever, and Hepatitis B virus. Top players like GlaxoSmithKline, Sanofi, and CSL dominate the market with their influenza vaccine offerings. Travel vaccinations, such as HEPLISAV B and Takeda's Dengue fever vaccine, are essential for safety during overseas travel. Novel vaccine technologies, like those based on molecular genetics, are also gaining popularity. Emporiatrics offers vaccine formulations for diseases like Yellow fever, Cholera, and Diarrhea. While vaccines ensure disease prevention, it's essential to consider dosages, side effects, and pandemic situations when planning travel vaccinations.
31.North America - The Travel Vaccines Market in North America is expected to dominate the global scene due to the presence of organizations like the Pan American Health Organization and the requirement of proof of vaccination for international travel. The market caters to first-time travellers and regular vacationers, offering vaccines such as BOOSTRIX, INFANRIX, Pediarix, BEXSERO, MENVEO, and influenza vaccines. With the increasing prevalence of diseases like influenza, rabies, typhoid, measles, and mumps, travel clinics have become essential for ensuring complete immunization before overseas travel. New vaccines, including those for dengue fever, hepatitis B, and measles, mumps, and rubella (MMR), are continually being introduced, incurring substantial cost for consultation fees and administration charges for multiple doses. While vaccines offer immunity against various microbes and pathogenic organisms, it is essential to consider disease type, likelihood of illness, and health hazards before use. Safety, side effects, and dosages are critical factors to consider when choosing travel vaccinations. Companies like Takeda, Dyanavax, and those producing bio-based drugs and antibodies are at the forefront of developing innovative travel vaccine solutions.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report
Key Market Trends Fueling Growth
The travel vaccines market is influenced by various factors, including demographics and disease prevalence. Migrants, particularly those from younger age groups, have lower vaccination rates, increasing the risk of vaccine-preventable diseases in host countries. Key vaccines include those for hepatitis B, Dengue fever, and yellow fever. Novel technologies like mRNA vaccines and recombinant DNA technology are driving industry gains. Travelers should be aware of potential side effects, dosages, and safety concerns when using vaccines for diseases like cholera, hepatitis B, and yellow fever.
Market Challenges
- The Travel Vaccines Market caters to travelers requiring vaccinations against vaccine-preventable diseases, primarily in endemic regions. High costs and limited insurance coverage are major barriers, with consultation fees and vaccine administration charges varying widely. Travel clinics offer essential vaccines like rabies, typhoid, measles, mumps, and more, but the substantial cost deters first-time travelers and those on vacations or medical tourism. New vaccines and initiatives aim to address these challenges, utilizing advanced technologies like recombinant DNA and mRNA.
Research report provides comprehensive data on impact of trend, driver and challenges - Buy Report
Research Analysis
The Travel Vaccines Market is a significant segment of the broader Biotechnology industry, focusing on the production and distribution of vaccines for travel-related diseases. This market caters to the needs of travellers, ensuring their immunity against vaccine-preventable diseases and health hazards associated with Overseas travel. Recombinant DNA technology and mRNA vaccines technology are the latest advancements in this field, enabling the production of specialized vaccines against pathogens causing infectious diseases such as Yellow Fever, Hepatitis A and B, Typhoid, and Rabies. The prevalence of these diseases varies based on disease strains and geographical locations, making it essential for travellers to stay informed and get immunized accordingly. Initiatives like the World Health Organization's (WHO) Global Travel Vaccine Network aim to increase awareness and accessibility of travel vaccines, contributing to the gains of the industry. Ultimately, the use of vaccinations is a crucial aspect of Travel Safety, protecting travellers from illnesses caused by pathogenic organisms and ensuring a healthy and enjoyable travel experience.
Market Research Overview
The Travel Vaccines Market refers to the production, distribution, and sale of vaccines used to prevent illnesses contracted during international travel. These vaccines are essential for preventing diseases such as Hepatitis A and B, Typhoid, Yellow Fever, Rabies, and Japanese Encephalitis. The market is driven by factors such as increasing international travel, government initiatives to promote vaccination, and the rising awareness of health risks associated with travel. The market is segmented based on vaccine types, end-users, and regions. Key players in the Travel Vaccines Market include Sanofi Pasteur, GlaxoSmithKline, Merck & Co., and Pfizer Inc. The market is expected to grow at a significant CAGR during the forecast period. The demand for travel vaccines is particularly high in developing countries due to the increasing number of travelers and the rising awareness of health risks. The market faces challenges such as the high cost of vaccines and the lack of reimbursement policies in some countries. Despite these challenges, the Travel Vaccines Market is expected to continue its growth trajectory due to the increasing number of travelers and the rising awareness of health risks associated with travel.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Disease Type
- Influenza
- Diptheria
- Hepatitis
- Typhoid And Others
- End-user
- Adult Vaccines
- Pediatric Vaccines
- Geography
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.
Contacts
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
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https://www.prnewswire.com/news-releases/travel-vaccines-market-size-is-set-to-grow-by-usd-3-97-bn-from-2024-2028--increase-in-global-migration-to-boost-the-market-growth-technavio-302149705.html
| 2024-05-20T22:44:46
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Trip.com Group Limited Reports Unaudited First Quarter of 2024 Financial Results
SINGAPORE, May 20, 2024 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) ("Trip.com Group" or the "Company"), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the first quarter of 2024.
Key Highlights for the First Quarter of 2024
- Both domestic and international businesses maintained robust growth momentum in the first quarter of 2024
- Domestic hotel and air bookings each increased by over 20% year over year.
- Outbound hotel and air bookings both increased by over 100% year over year.
- Total revenue generated from the Company's global OTA platform, Trip.com, increased by around 80% year over year.
- The Company delivered strong results in the first quarter of 2024
- Net revenue for the first quarter increased by 29% compared to the same period in 2023.
- Net income for the first quarter was RMB4.3 billion (US$599 million), compared to RMB3.4 billion for the same period in 2023.
- Adjusted EBITDA for the first quarter was RMB4.0 billion (US$550 million). Adjusted EBITDA margin was 33%, improved from 31% for the same period in 2023.
"The year 2024 has begun with a significant increase in both domestic and outbound travel demand in China, facilitated by a more stabilized supply and further relaxation of visa requirements," said James Liang, Executive Chairman. "Additionally, our global business has experienced robust growth, driven by our improved product offerings. We are committed to investing in product and technology innovations to deliver a superior travel experience to our users."
"We are delighted to see that our first quarter results have demonstrated the resilience of the travel market and the strong execution of our team," said Jane Sun, Chief Executive Officer. "Recognizing the importance of creating a sustainable future, we are dedicated to generating greater value for our stakeholders by creating more job opportunities and contributing to the development of the travel industry through collaboration with our partners."
First Quarter 2024 Financial Results and Business Updates
For the first quarter of 2024, Trip.com Group reported net revenue of RMB11.9 billion (US$1.6 billion), representing a 29% increase from the same period in 2023. Net revenue for the first quarter of 2024 increased by 15% from the previous quarter, primarily due to seasonality.
Accommodation reservation revenue for the first quarter of 2024 was RMB4.5 billion (US$623 million), representing a 29% increase from the same period in 2023 primarily driven by an increase in accommodation reservations. Accommodation reservation revenue for the first quarter of 2024 increased by 15% from the previous quarter, primarily due to seasonality.
Transportation ticketing revenue for the first quarter of 2024 was RMB5.0 billion (US$692 million), representing a 20% increase from the same period in 2023 primarily driven by an increase in ticketing reservations. Transportation ticketing revenue for the first quarter of 2024 increased by 22% from the previous quarter, primarily due to seasonality.
Packaged-tour revenue for the first quarter of 2024 was RMB883 million (US$122 million), representing a 129% increase from the same period in 2023 primarily driven by an increase in packaged-tour reservations. Packaged-tour revenue for the first quarter of 2024 increased by 25% from the previous quarter, primarily due to seasonality.
Corporate travel revenue for the first quarter of 2024 was RMB511 million (US$71 million), representing a 15% increase from the same period in 2023 primarily driven by an increase in corporate travel reservations. Corporate travel revenue for the first quarter of 2024 decreased by 19% from the previous quarter, primarily due to seasonality as corporates clients generally have relatively mild traveling activities in the first quarter in light of the Chinese New Year holiday.
Cost of revenue for the first quarter of 2024 increased by 37% to RMB2.2 billion (US$310 million) from the same period in 2023 and increased by 11% from the previous quarter, which was generally in line with the increase in net revenue. Cost of revenue as a percentage of net revenue was 19% for the first quarter of 2024.
Product development expenses for the first quarter of 2024 increased by 16% to RMB3.1 billion (US$431 million) from the same period in 2023 and increased by 7% from the previous quarter, primarily due to the increase in product development personnel related expenses. Product development expenses as a percentage of net revenue was 26% for the first quarter of 2024.
Sales and marketing expenses for the first quarter of 2024 increased by 32% to RMB2.3 billion (US$320 million) from the same period in 2023 primarily due to the increase in expenses relating to sales and marketing promotion activities. Sales and marketing expenses remained relatively stable compared to the previous quarter. Sales and marketing expenses as a percentage of net revenue was 19% for the first quarter of 2024.
General and administrative expenses for the first quarter of 2024 increased by 4% to RMB931 million (US$129 million) from the same period in 2023 and increased by 7% from the previous quarter. General and administrative expenses as a percentage of net revenue was 8% for the first quarter of 2024.
Income tax expense for the first quarter of 2024 was RMB664 million (US$92 million), compared to RMB341 million for the same period in 2023 and RMB399 million for the previous quarter. The change in Trip.com Group's effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, changes in deferred tax liabilities relating to withholding tax, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes recorded in other income/(expense), and changes in valuation allowance provided for deferred tax assets.
Net income for the first quarter of 2024 was RMB4.3 billion (US$599 million), compared to RMB3.4 billion for the same period in 2023 and RMB1.3 billion for the previous quarter. Adjusted EBITDA for the first quarter of 2024 was RMB4.0 billion (US$550 million), compared to RMB2.8 billion for the same period in 2023 and RMB2.9 billion for the previous quarter. Adjusted EBITDA margin was 33% for the first quarter of 2024, compared to 31% for the same period in 2023 and 28% for the previous quarter.
Net income attributable to Trip.com Group's shareholders for the first quarter of 2024 was RMB4.3 billion (US$597 million), compared to RMB3.4 billion for the same period in 2023 and RMB1.3 billion for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP net income attributable to Trip.com Group's shareholders for the first quarter of 2024 was RMB4.1 billion (US$561 million), compared to RMB2.1 billion for the same period in 2023 and RMB2.7 billion for the previous quarter.
Diluted earnings per ordinary share and per ADS was RMB6.38 (US$0.88) for the first quarter of 2024. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP diluted earnings per ordinary share and per ADS was RMB6.00 (US$0.83) for the first quarter of 2024. Each ADS currently represents one ordinary share of the Company.
As of March 31, 2024, the balance of cash and cash equivalents, restricted cash, short-term investment, and held to maturity time deposit and financial products was RMB81.9 billion (US$11.3 billion).
Conference Call
Trip.com Group's management team will host a conference call at 8:00 PM EST on May 20, 2024 (or 8:00 AM CST on May 21, 2024) following this announcement.
The conference call will be available live on Webcast and for replay at: https://investors.trip.com. The call will be archived for twelve months on our website.
All participants must pre-register to join this conference call using the Participant Registration link below:
https://register.vevent.com/register/BI081613f1346b45419466c3b6c9ce0001
Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "is/are likely to," "confident," or other similar statements. Among other things, quotations from management in this press release, as well as Trip.com Group's strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, volatility in the trading price of Trip.com Group's ADSs or shares, Trip.com Group's reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group's existing or future business lines, damage to or failure of Trip.com Group's infrastructure and technology, loss of services of Trip.com Group's key executives, adverse changes in economic and business conditions in the relevant jurisdictions where Trip.com Group operates, any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Trip.com Group and other risks outlined in Trip.com Group's filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About Non-GAAP Financial Measures
To supplement Trip.com Group's consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), net of tax, and other applicable items. Trip.com Group's management believes the non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.
Non-GAAP information is not prepared in accordance with GAAP, does not have a standardized meaning under GAAP, and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using non-GAAP financial measures is that non-GAAP measures exclude share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects that have been and will continue to be significant recurring expenses in Trip.com Group's business for the foreseeable future.
Reconciliations of Trip.com Group's non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.
About Trip.com Group Limited
Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission "to pursue the perfect trip for a better world."
For further information, please contact:
Investor Relations
Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: [email protected]
SOURCE Trip.com Group Limited
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| 2024-05-20T22:44:52
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SANTA CLARA, Calif., May, 20, 2024 /PRNewswire/ -- Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA; HKEX: 2391), a global leading cloud platform service provider, today announced its unaudited financial results for the first quarter ended March 31, 2024.
First Quarter 2024 Financial Highlights
- Total revenue was US61.7 million, up approximately 29.9% year over year (1Q2023: US$47.5 million).
- IoT platform-as-a-service ("PaaS") revenue was US$45.6 million, up approximately 35.7% year over year (1Q2023: US$33.6 million).
- Software-as-a-service ("SaaS") and others revenue was US$8.6 million, up approximately 1.8% year over year (1Q2023: US$8.5 million).
- Smart solution revenue was US$7.5 million, up approximately 37.3% year over year (1Q2023: US$5.4 million).
- Overall gross margin increased to 47.8%, up 3.5 percentage points year over year (1Q2023: 44.3%). Gross margin of IoT PaaS increased to 46.4%, up 5.9 percentage points year over year (1Q2023: 40.5%).
- Operating margin was negative 26.5%, improved by 41.5 percentage points year over year (1Q2023: negative 68.0%). Non-GAAP operating margin was negative 0.9%, improved by 30.6 percentage points year over year (1Q2023: negative 31.5%).
- Net margin was negative 5.7%, improved by 38.6 percentage points year over year (1Q2023: negative 44.3%). Non-GAAP net margin was 19.9%, improved by 27.7 percentage points year over year (1Q2023: negative 7.8%).
- Net cash generated from operating activities was US$14.5 million (1Q2023: net cash used in operating activities was US$18.9 million).
- Total cash and cash equivalents, time deposits and U.S. treasury securities recorded as short-term and long-term investments were US$998.8 million as of March 31, 2024, compared to US$984.3 million as of December 31, 2023.
For further information on the non-GAAP financial measures presented above, see the section headed "Use of Non-GAAP Financial Measures."
- IoT PaaS customers[1] for the first quarter of 2024 were approximately 2,000 (1Q2023: approximately 2,000). Total customers for the first quarter of 2024 were approximately 3,000 (1Q2023: approximately 2,800).
- Premium IoT PaaS customers[2] for the trailing 12 months ended March 31, 2024 were 269 (1Q2023: 261). In the first quarter of 2024, the Company's premium IoT PaaS customers contributed approximately 85.1% of its IoT PaaS revenue (1Q2023: approximately 80.2%).
- Dollar-based net expansion rate ("DBNER")[3] of IoT PaaS for the trailing 12 months ended March 31, 2024 was 116% (1Q2023: 49%).
- Registered IoT device and software developers were approximately 1,074,000 as of March 31, 2024, up 8.2% from approximately 993,000 developers as of December 31, 2023.
- The Company defines an IoT PaaS customer for a given period as a customer who has directly placed orders for IoT PaaS with the Company during that period.
- The Company defines a premium IoT PaaS customer as a customer as of a given date that contributed more than US$100,000 of IoT PaaS revenue during the immediately preceding 12-month period.
- The Company calculates DBNER of IoT PaaS for a trailing 12-month period by first identifying all customers in the prior 12-month period (i.e., those have placed at least one order for IoT PaaS during that period), and then calculating the quotient from dividing the IoT PaaS revenue generated from such customers in the current trailing 12-month period by the IoT PaaS revenue generated from the same Company of customers in the prior 12-month period. The Company's DBNER may change from period to period, due to a combination of various factors, including changes in the customers' purchase cycles and amounts and the Company's customer mix, among other things. DBNER indicates the Company's ability to expand customer use of the Tuya platform over time and generate revenue growth from existing customers.
Mr. Xueji (Jerry) Wang, Founder and Chief Executive Officer of Tuya, commented, "We started 2024, our tenth anniversary year, with strong financial and operating performances in the quarter highlighted by meaningful strategic advancements. During the quarter, we recorded solid growth in our total revenue and set new records in our blended gross margin, and achieving non-GAAP profitability in what is typically a slow quarter for the first time. Going forward, technology innovation remains at the heart of our strategy. We are fully embracing generative AI, integrating it into our products and services to enable global developers to efficiently create more engaging and valuable smart devices and intelligent spaces. The integration will also offer the potential to dramatically enhance user interaction experiences and explore new smart business opportunities. As such, we remain confident in our ability to lead the evolving smart technology landscape and deliver sustained value to our customers and stakeholders."
Ms. Yao (Jessie) Liu, Director and Chief Financial Officer of Tuya, added, "In the first quarter of 2024, we delivered strong financial performance, surpassing market expectations. Our core business segment, IoT PaaS, continued its strong rebound, driven by the recovery in overseas consumer electronics demand and the steady rise in global demand for smart solutions. Meanwhile, we also achieved further improvement in our profit margins and operational efficiency. Looking ahead, we are committed to sustaining this momentum, driving long-term revenue growth, and maintaining profitability, and ultimately delivering better returns for our shareholders."
REVENUE
Total revenue in the first quarter of 2024 increased by 29.9% to US$61.7 million from US$47.5 million in the same period of 2023, mainly due to the increase in IoT PaaS revenue, SaaS and others revenue and smart solution revenue.
- IoT PaaS revenue in the first quarter of 2024 increased by 35.7% to US$45.6 million from US$33.6 million in the same period of 2023, primarily due to the relief of downstream inventory backlog and a global economic improvement compared with the same period of 2023, along with the effective customer-focus and product-enhancement strategies the Company adopted to navigate through the macroeconomic headwinds. Correspondingly, the Company's DBNER of IoT PaaS for the trailing 12 months ended March 31, 2024 increased to 116% from 49% for the trailing 12 months ended March 31, 2023.
- SaaS and others revenue in the first quarter of 2024 increased by 1.8% to US$8.6 million from US$8.5 million in the same period of 2023, primarily due to an increase in revenue from cloud software products, partially offset by the decrease in revenue from technical development services. The Company remained committed to offering value-added services and a diverse range of software products with compelling value propositions to its customers.
- Smart solution (formerly known as smart device distribution) revenue in the first quarter of 2024 increased by 37.3% to US$7.5 million from US$5.4 million in the same period of 2023, primarily due to the increasing customer demand for smart devices with integrated intelligent software capabilities the Company developed beyond IoT.
COST OF REVENUE
Cost of revenue in the first quarter of 2024 increased by 21.6% to US$32.2 million from US$26.5 million in the same period of 2023, generally in line with the increase in the Company's total revenue.
GROSS PROFIT AND GROSS MARGIN
Total gross profit in the first quarter of 2024 increased by 40.2% to US$29.5 million from US$21.0 million in the same period of 2023 and gross margin increased to 47.8% in the first quarter of 2024 from 44.3% in the same period of 2023.
- IoT PaaS gross margin in the first quarter of 2024 was 46.4%, compared to 40.5% in the same period of 2023, primarily due to the changes in product mix, enhancement in product value, and the reversal recorded for certain slow-moving IoT chips and raw materials compared to the provision of such IoT chips and raw materials in the first quarter of last year.
- SaaS and others gross margin in the first quarter of 2024 was 72.3%, remained relatively stable compared to 74.1% in the same period of 2023.
- Smart solution gross margin in the first quarter of 2024 was 28.3%, compared to 21.0% in the same period of 2023, primarily due to higher-value product solutions we provided to our customers during the first quarter of 2024.
OPERATING EXPENSES
Operating expenses decreased by 14.0% to US$45.9 million in the first quarter of 2024 from US$53.3 million in the same period of 2023.
Non-GAAP operating expenses, defined as operating expenses excluding share-based compensation expenses and credit loss of long-term investments, decreased by 16.6% to US$30.0 million in the first quarter of 2024 from US$36.0 million in the same period of 2023. Share-based compensation expenses in the first quarter of 2024 were US$15.8 million, compared to US$17.3 million in the same period of 2023. Credit loss of long-term investments was nil in the first quarter of 2023 and 2024, respectively.
- Research and development expenses in the first quarter of 2024 were US$23.5 million, down 16.3% from US$28.1 million in the same period of 2023, primarily due to the decrease in employee-related costs. During this quarter, average salaried employee headcount of the Company's research and development team was down approximately 20.1% year over year, but remained largely stable compared to the previous quarter. Non-GAAP adjusted research and development expenses in the first quarter of 2024 were US$20.0 million, compared to US$23.9 million in the same period of 2023.
- Sales and marketing expenses in the first quarter of 2024 were US$9.0 million, down 12.4% from US$10.3 million in the same period of 2023, primarily due to the decrease in employee- related costs. Non-GAAP adjusted sales and marketing expenses in the first quarter of 2024 were US$7.6 million, compared to US$8.7 million in the same period of 2023.
- General and administrative expenses in the first quarter of 2024 were US$15.5 million, down 7.9% compared to US$16.8 million in the same period of 2023, primarily due to (i) the decrease in employee-related costs, and (ii) the decrease in professional service fee compared to the same period of 2023. Non-GAAP adjusted general and administrative expenses in the first quarter of 2024 were US$4.6 million, compared to US$5.2 million in the same period of 2023.
- Other operating income, net in the first quarter of 2024 was US$2.1 million, primarily due to the receipt of software value-added tax refunds and various general subsidies for enterprises.
LOSS FROM OPERATIONS AND OPERATING MARGIN
Loss from operations in the first quarter of 2024 narrowed by 49.3% to US$16.4 million from US$32.3 million in the same period of 2023. Non-GAAP loss from operations in the first quarter of 2024 narrowed by 96.3% to US$0.6 million from US$15.0 million in the same period of 2023.
Operating margin in the first quarter of 2024 was negative 26.5%, improved by 41.5 percentage points from negative 68.0% in the same period of 2023. Non-GAAP operating margin in the first quarter of 2024 was negative 0.9%, improved by 30.6 percentage points from negative 31.5% in the same period of 2023.
NET LOSS/PROFIT AND NET MARGIN
Net loss in the first quarter of 2024 narrowed by 83.2% to US$3.5 million from US$21.0 million in the same period of 2023. The difference between loss from operations and net loss in the first quarter of 2024 was primarily because of a US$12.8 million interest income achieved mainly due to well implemented treasury strategies on the Company's cash, time deposits and U.S. treasury securities recorded as short-term and long-term investments.
The Company had a non-GAAP net profit of US$12.3 million in the first quarter of 2024, compared to a non-GAAP net loss of US$3.7 million in the same period of 2023, demonstrating the Company's ability to sustain profitability on a non-GAAP basis.
Net margin in the first quarter of 2024 was negative 5.7%, improving by 38.6 percentage points from negative 44.3% in the same period of 2023. Non-GAAP net margin in the first quarter of 2024 was 19.9%, improving by 27.7 percentage points from negative 7.8% in the same period of 2023.
BASIC AND DILUTED NET LOSS/PROFIT PER ADS
Basic and diluted net loss per ADS was US$0.01 in the first quarter of 2024, compared to US$0.04 in the same period of 2023. Each ADS represents one Class A ordinary share.
Non-GAAP basic and diluted net profit per ADS was US$0.02 in the first quarter of 2024, compared to non-GAAP basic and diluted net loss of US$0.01 in the same period of 2023.
CASH AND CASH EQUIVALENTS, TIME DEPOSITS AND U.S. TREASURY SECURITIES RECORDED AS SHORT-TERM AND LONG-TERM INVESTMENTS
Cash and cash equivalents, time deposits and U.S. treasury securities recorded as short-term and long-term investments were US$998.8 million as of March 31, 2024, compared to US$984.3 million as of December 31, 2023, which the Company believes is sufficient to meet its current liquidity and working capital needs.
NET CASH GENERATED FROM OPERATING ACTIVITIES
Net cash generated from operating activities in the first quarter of 2024 was US$14.5 million, compared to net cash used in operating activities US$18.9 million in the same period of 2023. The net cash generated from operating activities for the first quarter of 2024 improved mainly due to the increase in the Company's revenue, and the decrease in operating expenses, particularly employee-related costs, and working capital changes in the ordinary course of business.
For further information on non-GAAP financial measures presented above, see the section headed "Use of Non-GAAP Financial Measures."
Business Outlook
With the stabilizing macroeconomic environment and normalizing downstream inventory levels, the industry is currently on a positive trajectory. With the effective implementation of the Company's customer and product strategies, along with the utilization and innovation of emerging technologies like AI, the Company is confident in its business prospects.
The Company will remain committed to continuously iterating and improving its products and services, further enhancing software and hardware capabilities, expanding key customer base, investing in innovations and new opportunities, diversifying revenue streams, and further optimizing operating efficiency. At the same time, the Company understands that future trajectories may encounter challenges, including shifting consumer spending patterns, regional economic disparities, inventory management, foreign exchange rate and interests rate volatility, and broader geopolitical uncertainties.
Conference Call Information
The Company's management will hold a conference call at 08:30 P.M. Eastern Time on Monday, May 20, 2024 (08:30 A.M. Beijing Time on Tuesday, May 21, 2024) to discuss the financial results. In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this conference including a conference access code, a PIN number (personal access code), the dial- in number, and an e-mail with detailed instructions to join the conference call.
Online registration: https://www.netroadshow.com/events/login?show=a28be759&confId=64913
The replay will be accessible through May 27, 2024 by dialing the following numbers:
A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.tuya.com.
About Tuya Inc.
Tuya Inc. (NYSE: TUYA; HKEX: 2391) is a global leading cloud platform service provider with a mission to build a smart solutions developer ecosystem and enable everything to be smart. Tuya has pioneered a purpose-built cloud developer platform with cloud and generative AI capabilities that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, Software-as-a- Service, or SaaS, and smart solutions for developers of smart device, commercial applications, and industries. Through its cloud developer platform, Tuya has activated a vibrant global developer community of brands, OEMs, AI agents, system integrators and independent software vendors to collectively strive for smart solutions ecosystem embodying the principles of green and low- carbon, security, high efficiency, agility, and openness.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP measures, such as non- GAAP operating expenses, non-GAAP loss from operations (including non-GAAP operating margin), non-GAAP net (loss)/profit (including non-GAAP net margin), and non-GAAP basic and diluted net (loss)/profit per ADS, as supplemental measures to review and assess its operating performance. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"). The Company defines non-GAAP measures by excluding the impact of share-based compensation expenses and credit-related impairment of long-term investments from the respective GAAP measures. The Company presents the non-GAAP financial measures because they are used by the management to evaluate its operating performance and formulate business plans. The Company also believes that the use of the non-GAAP measures facilitates investors' assessment of its operating performance.
Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using the aforementioned non-GAAP financial measures is that they do not reflect all items of expenses that affect the Company's operations. Share-based compensation expenses and credit-related impairment of long-term investments have been and may continue to be incurred in the business and are not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.
Reconciliations of Tuya's non-GAAP financial measures to the most comparable U.S. GAAP measures are included at the end of this press release.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "target", "aim", "estimate", "intend", "plan", "believe", "potential", "continue", "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. The forward-looking statements included in this press release are only made as of the date hereof, and the Company disclaims any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.
Investor Relations Contact
Tuya Inc.
Investor Relations
Email: [email protected]
The Blueshirt Group Gary Dvorchak, CFA
Phone: +1 (323) 240-5796
Email: [email protected]
SOURCE Tuya Inc.
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https://www.prnewswire.com/news-releases/tuya-reports-first-quarter-2024-unaudited-financial-results-302150570.html
| 2024-05-20T22:44:58
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en
| 0.945385
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WASHINGTON, May 20, 2024 /PRNewswire/ --
UPDATE:
Since our statement below, we have learned from several sources in Guatemala that Mr. Zamora has not been released from jail to home detention. While Mr. Zamora has been granted home detention for one of the charges against him, he will not be allowed to actually depart detention until reciprocal decisions are reached on the other charges against him. This could happen as soon as next month. But for now, he remains in jail subject to disposition of remaining charges. Below is our prior statement.
WASHINGTON, May 17 -- Following is a statement from Emily Wilkins, president of the National Press Club on the decision by Guatemala to release journalist Jose Ruben Zamora to home detention without monitoring.
"We are pleased to hear that Guatemalan journalist Jose Ruben Zamora has been released to home detention after more than 600 days in pretrial detention. One of the two charges against him has been dismissed and we have every reason to believe the other charge will be dismissed as well, when the court rules in June.
Let's be clear about this: Mr. Zamora is a journalist who has done nothing wrong. The charges were intended to impede his journalism. The government of Guatemala was prepared to let Mr. Zamora leave the country, but when he declined, he was jailed on flimsy charges. This is no way for a government to behave toward its journalists. We expect more from the government of Guatemala. Mr. Zamora deserves to live a productive life free of intrusions and punishment."
Founded in 1908, the National Press Club is the world's leading professional organization for journalists. With 3,000 members representing nearly every major news organization, the club is a leading voice for press freedom in the U.S. and worldwide.
Contact: Bill McCarren, 202-662-7534 for the National Press Club
SOURCE National Press Club
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https://www.prnewswire.com/news-releases/update-national-press-club-statement-on-guatemalan-journalist-jose-ruben-zamora-302150560.html
| 2024-05-20T22:45:05
|
en
| 0.97502
|
WildFire Energy Announces Eagle Ford Acquisition from Apache Corporation and Subsidiaries
Acquisition Creates the Largest Consolidated Acreage Position in the entire Eagle Ford Shale Basin
HOUSTON, May 20, 2024 /PRNewswire/ -- WildFire Energy I LLC ("WildFire"), today announced that it has entered into a definitive agreement for the acquisition of approximately 237,000 net acres and interests in 465 wells in the East Texas Eagle Ford from Apache Corporation and subsidiaries. With the acquisition, WildFire will operate more than 2,000 gross wells on over 850,000 net acres in the eastern Eagle Ford encompassing Fayette, Bastrop, Lee, Austin, Washington, Burleson, Brazos, Milam, Robertson, Madison, and Grimes counties of Texas. In addition, WildFire's total position includes approximately 550,000 net acres prospective for the Austin Chalk as well as acreage in the Woodbine, Buda, and Georgetown formations.
In Q1 2024, the acquired Apache assets averaged net daily production of approximately 11,000 barrels of oil equivalent (Boe) (67% liquids). WildFire estimates unaudited, net proved reserves were approximately 40 million barrels of oil equivalent (MMboe) as of December 31, 2023. Pro forma for the acquisition, WildFire's net daily production will surpass 50,000 barrels of oil equivalent (85% liquids).
The Apache acquisition follows WildFire's acquisition of Chesapeake Energy Corporation's Brazos Valley region assets in the eastern Eagle Ford in March 2023 and allows WildFire to capitalize on its existing infrastructure and scale in the region. WildFire previously acquired MD America Energy, LLC in March 2022 and Hawkwood Energy, LLC in August 2021, which began the process of consolidating the eastern Eagle Ford basin.
"This acquisition of adjacent assets presented us with a strategic opportunity to continue consolidating the basin," said Steve Habachy, President and Chief Operating Officer of WildFire. "With a total of more than 850,000 net acres, we have built a premier contiguous asset base, making WildFire the largest operator in the entire Eagle Ford trend."
About WildFire Energy
WildFire Energy is an independent energy platform company pursuing production-weighted oil and gas assets in onshore US basins, seeking to efficiently optimize and develop reserves using modern technologies and its extensive operating experience. WildFire is led by Anthony Bahr, CEO, Steve Habachy, President/COO, and Drew Cozby, CFO. WildFire Energy was formed in 2019 with funding from Warburg Pincus, Kayne Anderson, and management.
Media Contact:
Drew Cozby
CFO, WildFire Energy
[email protected]
SOURCE WildFire Energy I LLC
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https://www.prnewswire.com/news-releases/wildfire-energy-announces-eagle-ford-acquisition-from-apache-corporation-and-subsidiaries-302150552.html
| 2024-05-20T22:45:11
|
en
| 0.926186
|
Schauffele earns his first major victory and sets the lowest winning score in major championship history with a Callaway Paradym Ai Smoke Driver, Chrome Tour Golf Ball, and an Odyssey Putter
CARLSBAD, Calif., May 20, 2024 /PRNewswire/ -- On Sunday, Callaway Staff Professional Xander Schauffele earned his first major win at the 2024 PGA Championship. Schauffele also set the record for the lowest score in major championship history at 21-under with rounds of 62-68-68-65 at Valhalla Golf Club, highlighted by a clinching birdie on the 72nd hole.
His winning equipment setup included a Callaway Paradym Ai Smoke Triple Diamond Driver, Paradym Ai Smoke Triple Diamond Fairway Wood, Apex UW, Apex TCB Irons, a JAWS Raw Wedge, a new Chrome Tour Golf Ball, and an Odyssey Putter. Xander won the PGA Championship in wire-to-wire fashion, after carding an opening round 62 on Thursday that tied the lowest round ever in a major. He also shot a 62 last year during the opening round of the 2023 U.S. Open.
Xander's Paradym Ai Smoke Triple Diamond Driver features an industry-first Ai Smart Face that promotes multiple sweet spots across the entire face. This face design optimizes driver performance using swing dynamics from thousands of real golfers. These swing dynamics, or Swing Code, consist of swing speed, club delivery, and face orientation just prior to impact. Callaway's Paradym Ai Smoke is the #1 Driver in the U.S. market for Q1, per Golf Datatech.
His Chrome Tour Golf Ball provides Xander with total performance from tee-to-green, with fast ball speeds and outstanding greenside control. To put that into greater context, he's currently 2nd on the PGA TOUR this year in Strokes Gained: Tee to Green, 2nd in Strokes Gained: Total and 8th in Strokes Gained: Off the Tee. The new Chrome Tour lineup has helped Callaway achieve its highest share ever in the premium golf ball category.
His Odyssey Putter features a mallet shape, and it helped him make key putts throughout the weekend. Odyssey is the #1 Putter at the PGA Championship, it's the #1 Putter on Tour, and it's the #1 Putter in the U.S. market for Q1, per Golf Datatech. Schauffele joined Callaway and Odyssey's Staff at the beginning of 2018, and since then he has won 6 PGA TOUR events along with the Gold Medal in 2021. He is now #2 in the Official World Golf Rankings.
"It's an honor to win the PGA Championship, and I want to thank everyone at Callaway who has helped to play such an important role in my performance," said Schauffele. "I'm confident in my equipment, and I've developed an incredible relationship with the team ever since I've been on their staff. I'm so happy to celebrate this with them."
"We're excited to congratulate Xander Schauffele on his major victory at the PGA Championship," said Chip Brewer, President & CEO of Topgolf Callaway Brands. "He's accomplished so much around the world, from winning Olympic gold to capturing some of the biggest events in professional golf. We knew it was only a matter of time before he would break through at a major, and our entire company was incredibly proud to see him win at Valhalla in an unforgettable finish."
ABOUT CALLAWAY GOLF
Callaway Golf, a Topgolf Callaway Brands Corp. (NYSE: MODG) brand, is the leading manufacturer of premium golf clubs, balls, performance gear and accessories worldwide. Through an unwavering commitment to innovation, Callaway pushes the limits of performance and creates demonstrably superior products designed to make every golfer a better golfer. For more information, please visit www.callawaygolf.com.
MEDIA CONTACTS:
Jeff Newton
Callaway Golf
[email protected]
SOURCE Callaway Golf
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https://www.prnewswire.com/news-releases/xander-schauffele-wins-pga-championship-with-callaway-clubs-and-golf-ball-302150578.html
| 2024-05-20T22:45:17
|
en
| 0.954028
|
ENGLEWOOD, Colo., May 20, 2024 /PRNewswire/ -- XTI Aerospace, Inc. (NASDAQ: XTIA) ("XTI" or the "Company") today announces filing its quarterly report on Form 10-Q for the quarter ended March 31, 2024 as well as provides a business update.
"The first quarter of 2024 was truly an inflection point for the Company as we completed the merger and began trading on the Nasdaq, illustrating the start of our greater journey," commented Scott Pomeroy, chief executive officer of XTI Aerospace. "We are now focused on advancing the TriFan 600, a fixed-wing, vertical lift crossover airplane, toward key milestones including finalizing our certification plan with the Federal Aviation Administration, selecting all of our structures and system suppliers, completing the Critical Design Review (CDR), and obtaining Type Certification (TC) of the TriFan 600. Our team is excited to bring this aircraft to our customers in support of their business and mission objectives. We are also advancing key strategic partnerships including ones we believe could accelerate our timelines and further reduce costs, which we look forward to announcing in the near future."
"We believe the TriFan 600 will be a market disruptor with its unique, patented intellectual property and advanced design. Demonstrating the strong demand for vertical lift crossover aircraft, are the considerable pre-orders we have secured which have the potential to generate billions in gross revenue upon delivery. We anticipate the TriFan 600 will bridge a gap within the market by combining the performance of a fixed-wing business aircraft with the versatility of vertical takeoff and landing (VTOL). We intend to leverage our extensive know-how and experienced leadership team to become a leader within the aviation industry and plan to provide meaningful updates to shareholders as we progress."
The Company's quarterly report on Form 10-Q for the quarterly period ended March 31, 2024 was filed with the U.S. Securities and Exchange Commission today, May 20, 2024. The Form 10-Q is also available on the Company's website.
About XTI Aerospace, Inc.
XTI Aerospace (XTIAerospace.com) is the parent company of XTI Aircraft Company (XTIAircraft.com), an aviation business based near Denver, Colorado, currently developing the TriFan 600, a fixed-wing business aircraft designed to have the vertical takeoff and landing (VTOL) capability of a helicopter, speeds of 345 mph and a range of 700 miles, creating an entirely new category – the vertical lift crossover airplane (VLCA). Additionally, the Inpixon (inpixon.com) business unit of XTI Aerospace is a leader in RTLS technology with customers around the world who use the Company's location intelligence solutions in factories and other industrial facilities to help optimize operations, increase productivity, and enhance safety. For more information about XTI Aerospace, please visit XTIAerospace.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act. All statements other than statements of historical fact contained in this press release, including without limitation, statements the products under development by XTI, the advantages of XTI's and RTLS's technology, the combined company's customers, plans and strategies are forward-looking statements.
Some of these forward-looking statements can be identified by the use of forward-looking words, including "believe," "continue," "could," "estimate," "will," "expect," "intend," "plan," "target," "projects," "will," or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts, and assumptions that, while considered reasonable by XTI Aerospace and its management, are inherently uncertain, and many factors may cause the actual results to differ materially from current expectations. XTI undertakes no obligation to revise any forward-looking statements in order to reflect events or circumstances that might subsequently arise. Readers are urged to carefully review and consider the risk factors discussed from time to time in XTI's filings with the SEC, including those factors discussed under the caption "Risk Factors" in its most recent annual report on Form 10-K, filed with the SEC on April 16, 2024, and in subsequent reports filed with or furnished to the SEC.
Contacts
General inquiries:
Email: [email protected]
Web: https://xtiaerospace.com/contact/
Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: [email protected]
SOURCE XTI Aerospace, Inc.
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https://www.prnewswire.com/news-releases/xti-aerospace-files-form-10-q-for-quarter-ended-march-31-2024-302150586.html
| 2024-05-20T22:45:23
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en
| 0.949977
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Yalla Group Limited Announces Unaudited First Quarter 2024 Financial Results
DUBAI, UAE, May 20, 2024 /PRNewswire/ -- Yalla Group Limited ("Yalla" or the "Company") (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the first quarter ended March 31, 2024.
First Quarter 2024 Financial and Operating Highlights
- Revenues were US$78.7 million in the first quarter of 2024, representing an increase of 7.1% from the first quarter of 2023.
- Revenues generated from chatting services in the first quarter of 2024 were US$52.2 million.
- Revenues generated from games services in the first quarter of 2024 were US$26.5 million.
- Revenues generated from chatting services in the first quarter of 2024 were US$52.2 million.
- Net income was US$31.1 million in the first quarter of 2024, a 56.2% increase from US$19.9 million in the first quarter of 2023. Net margin1 was 39.5% in the first quarter of 2024.
- Non-GAAP net income2 was US$35.3 million in the first quarter of 2024, a 38.4% increase from US$25.5 million in the first quarter of 2023. Non-GAAP net margin3 was 44.8% in the first quarter of 2024.
- Average MAUs4 increased by 14.6% to 37.8 million in the first quarter of 2024 from 33.0 million in the first quarter of 2023.
- The number of paying users5 on our platform decreased by 5.2% to 12.8 million in the first quarter of 2024 from 13.5 million in the first quarter of 2023.
"We kicked off 2024 with a solid set of operational and financial results. In the first quarter, despite the impact posed by Ramadan beginning on March 11, our revenues increased by 7.1% year-over-year to US$78.7 million, landing in the upper end of our guidance and once again demonstrating the remarkable strength of our flagship applications," said Mr. Yang Tao, Founder, Chairman and CEO of Yalla. "We also reaped rewards as we continued optimizing our user acquisition strategies and strengthening user engagement by leveraging our local know-how. For the first quarter, our group's average MAUs reached 37.8 million, up 14.6% year-over-year. Our paying users also sequentially increased by 7.3% from last quarter to 12.8 million, reflecting users' increasing willingness to pay for our products.
"Furthermore, we continued to explore and invest in Yalla Game, with a strategic focus on new game development. We are actively communicating with potential premium partners and recently joined the UK Interactive Entertainment Association (UKIE), deepening our commitment to enhancing connectivity within the global gaming industry and enriching the Middle Eastern gaming community with diverse, high-quality game content. We remain confident in the vast opportunities in MENA's gaming industry. By capitalizing on our extensive expertise and resources in the MENA region, we are well-positioned to unlock the growth potential in the addressable market. As always, we are dedicated to delivering high-quality, tailored digital products that cater to the evolving needs of local users," Mr. Yang concluded.
Ms. Karen Hu, CFO of Yalla, commented, "Our financial performance remained robust throughout the first quarter of 2024. Our ongoing efforts to deliver high-quality growth and enhance our operating efficiency resulted in meaningful profitability improvements, with net income increasing 56.2% year-over-year to US$31.1 million and net margin expanding from 27.1% to 39.5%. Looking ahead, we are confident that our strong cash position and excellent execution will empower us to capitalize on future opportunities, driving sustainable growth and creating value for all our stakeholders."
First Quarter 2024 Financial Results
Revenues
Our revenues were US$78.7 million in the first quarter of 2024, a 7.1% increase from US$73.5 million in the first quarter of 2023. The increase was primarily driven by our broadening user base and enhanced monetization capability. Our average MAUs increased by 14.6% from 33.0 million in the first quarter of 2023 to 37.8 million in the first quarter of 2024. Our solid revenue growth was also partially attributable to the significant increase in ARPPU,6 which grew from US$5.39 in the first quarter of 2023 to US$6.03 in the first quarter of 2024.
In the first quarter of 2024, our revenues generated from chatting services were US$52.2 million, and revenues from games services were US$26.5 million.
Costs and expenses
Our total costs and expenses were US$49.6 million in the first quarter of 2024, a 12.7% decrease from US$56.8 million in the first quarter of 2023.
Our cost of revenues was US$28.6 million in the first quarter of 2024, a 2.6% increase from US$27.9 million in the same period last year, primarily due to higher commission fees paid to third-party payment platforms as a result of increasing revenue generated. Cost of revenues as a percentage of our total revenues decreased to 36.3% in the first quarter of 2024, compared with 37.9% in the first quarter of 2023.
Our selling and marketing expenses were US$8.1 million in the first quarter of 2024, a 28.7% decrease from US$11.4 million in the same period last year, primarily driven by our more disciplined advertising and promotion approach and lower share-based compensation expenses recognized in the first quarter of 2024. Selling and marketing expenses as a percentage of our total revenues decreased from 15.4% in the first quarter of 2023 to 10.3% in the first quarter of 2024.
Our general and administrative expenses were US$6.6 million in the first quarter of 2024, a 34.6% decrease from US$10.2 million in the same period last year, primarily driven by lower share-based compensation expenses recognized in the first quarter of 2024 and a decrease in professional service fees. General and administrative expenses as a percentage of our total revenues decreased from 13.8% in the first quarter of 2023 to 8.4% in the first quarter of 2024.
Our technology and product development expenses were US$6.3 million in the first quarter of 2024, a 15.5% decrease from US$7.4 million in the same period of last year, primarily due to a lower amount in performance-based bonuses recognized during this quarter. Technology and product development expenses as a percentage of our total revenues decreased from 10.1% in the first quarter of 2023 to 8.0% in the first quarter of 2024.
Operating income
Operating income was US$29.1 million in the first quarter of 2024, a 74.2% increase from US$16.7 million in the first quarter of 2023.
Non-GAAP operating income7
Non-GAAP operating income in the first quarter of 2024 was US$33.3 million, a 49.3% increase from US$22.3 million in the same period last year.
Interest income
Our interest income was US$6.6 million in the first quarter of 2024, compared with US$3.1 million in the first quarter of 2023, primarily due to an increase in interest rates applicable to the Company's bank deposits.
Income tax expense
Our income tax expense was US$3.48 million in the first quarter of 2024, compared with US$0.62 million in the first quarter of 2023. The increase was primarily due to the introduction and implementation of the UAE Corporate Tax Law, which is effective for the financial years starting on or after June 1, 2023.
Net income
As a result of the foregoing, our net income was US$31.1 million in the first quarter of 2024, a 56.2% increase from US$19.9 million in the first quarter of 2023.
Non-GAAP net income
Non-GAAP net income in the first quarter of 2024 was US$35.3 million, a 38.4% increase from US$25.5 million in the same period last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.20 and US$0.17, respectively, in the first quarter of 2024, while basic and diluted earnings per ordinary share were US$0.13 and US$0.11, respectively, in the same period of 2023.
Non-GAAP earnings per ordinary share8
Non-GAAP basic and diluted earnings per ordinary share were US$0.22 and US$0.20, respectively, in the first quarter of 2024, compared with US$0.16 and US$0.14, respectively, in the same period of 2023.
Cash and cash equivalents, restricted cash, term deposits and short-term investments
As of March 31, 2024, we had cash and cash equivalents, restricted cash, term deposits and short-term investments of US$482.7 million, compared with US$535.7 million as of December 31, 2023. The decrease was primarily due to the reallocation of some of the Company's cash reserves to long-term investments in the first quarter of 2024.
Extension of the Share Repurchase Program
Pursuant to the Company's share repurchase program beginning on May 21, 2021 with an extended expiration date of May 21, 2024, the Company had completed cash repurchases in the open market of 3,972,876 American depositary shares ("ADSs"), representing 3,972,876 Class A ordinary shares, for an aggregate amount of approximately US$35.5 million, as of March 31, 2024. The aggregate value of ADSs and/or Class A ordinary shares that remain available for purchase under the current share repurchase program was US$114.5 million as of March 31, 2024. On May 16, 2024, the Company's board of directors approved an extension of the expiration date of the share repurchase program to May 21, 2025.
Outlook
For the second quarter of 2024, Yalla currently expects revenues to be between US$72.0 million and US$79.0 million.
The above outlook is based on current market conditions and reflects the Company management's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.
Conference Call
The Company's management will host an earnings conference call on Monday, May 20, 2024, at 8:00 PM U.S. Eastern Time, Tuesday, May 21, 2024, at 4:00 AM Dubai Time, or Tuesday, May 21, 2024, at 8:00 AM Beijing/Hong Kong time.
Dial-in details for the earnings conference call are as follows:
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.yalla.com.
A replay of the conference call will be accessible until May 27, 2024, by dialing the following telephone numbers:
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP financial measures, namely non-GAAP operating income, non-GAAP net income, non-GAAP net margin and non-GAAP basic and diluted earnings per ordinary share, as supplemental measures to review and assess the Company's operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP operating income as operating income excluding share-based compensation. We define non-GAAP net income as net income excluding share-based compensation. We define non-GAAP net margin as non-GAAP net income as a percentage of revenues. We define non-GAAP net income attributable to Yalla Group Limited's shareholders as net income attributable to Yalla Group Limited's shareholders, excluding share-based compensation. We define non-GAAP earnings per ordinary share as non-GAAP net income attributable to Yalla Group Limited's shareholders, divided by the weighted average number of basic and diluted shares outstanding.
By excluding the impact of share-based compensation expenses, which are non-cash charges, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. Investors can better understand the Company's operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess its core operating results, as they exclude share-based compensation expenses, which are not expected to result in cash payments. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making.
The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using the non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company's operations. Share-based compensation has been and may continue to be incurred in the Company's business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP financial measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.
The Company compensates for these limitations by providing the relevant disclosure of its non-GAAP financial measures in the reconciliations to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating its performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
Reconciliations of GAAP and non-GAAP results are set forth at the end of this press release.
About Yalla Group Limited
Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenue in 2022. The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality. Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new content, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users' evolving online social networking and gaming needs. Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users, WeMuslim, a product that supports Arabic users in observing their customs, and casual games such as Yalla Baloot and 101 Okey Yalla, developed to sustain vibrant local gaming communities in MENA. Yalla is also actively exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets. Yalla's mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.
For more information, please visit: https://ir.yalla.com.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Statements that are not historical facts, including statements about Yalla Group Limited's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Yalla Group Limited's filings with the SEC. All information provided in this press release is as of the date of this press release, and Yalla Group Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Yalla Group Limited
Investor Relations
Kerry Gao - IR Director
Tel: +86-571-8980-7962
Email: [email protected]
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: [email protected]
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: [email protected]
SOURCE Yalla Group Limited
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https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-first-quarter-2024-financial-results-302150138.html
| 2024-05-20T22:45:29
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en
| 0.954318
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Zepp Health Corporation Reports First Quarter 2024 Unaudited Financial Results
MILPITAS, Calif., May 20, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp" or the "Company") (NYSE: ZEPP) today reported revenues of US$39.8 million; a basic and diluted net loss per share of US$0.06; and a basic and diluted net loss per ADS of US$0.23 for the first quarter ended March 31, 2024; adjusted basic and diluted net loss per share of US$0.05; and adjusted basic and diluted net loss per ADS of US$0.19. Each ADS represents four Class A ordinary shares.
Mr. Wang 'Wayne' Huang, Chairman and CEO of Zepp, commented, "In the first quarter of 2024, our revenue came broadly in line with our guidance. Our gross margin performance reached a record high, and our self-branded product sales contributed over 85% of total revenues. Notably, the MAU of our Zepp application has exceeded 10 million, marking an early success of our transformation journey."
Wayne continued: "On the products front, we offer a diverse range of series tailored to various market needs. Each series is strategically positioned with a thorough understanding of its competitors and targeted price ranges. We are delighted to observe that our Balance and Active product line has gained more popularity among consumers and KOLs due to the attractive designs and innovative functionalities such as cutting-edge AI functions, a wide range of health services and a diverse selection of watch faces and app ecosystems. This has enabled us to position this product line to a more premium market than before and generate better gross margins. In May, we unveiled the new Amazfit Bip 5 Unity. Through the stainless-steel appearance and bigger screen, we have brought many user-favorite software functions from our mid-to-high-end product lines to Unity, and brought richer apps and watch faces through Zepp OS 3.0 to unity, strengthening our sub-$100 market competitiveness and further expand our market share in emerging markets. We also launched a new product line in May, Helio Ring, which allows users who prefer not to wear watches while sleeping to obtain 24-hour comprehensive health data monitoring. This enhances recovery for athletes and provides readiness analysis for general users, ensuring a holistic user experience with both smartwatches and smart rings. We are the first smartwatch brand to offer such a solution, placing us ahead of our competitors. Our software, especially the proprietary operating system, Zepp OS, has been upgraded to version 3.5, integrating the large-model-based Zepp Flow AI system. This brings large model AI interaction and messaging capabilities to our entire product line. The rapid application and innovation of large model AI technology provides our smartwatch products with opportunities to surpass competitors, showcasing our company's execution and creativity capabilities. Simultaneously, we've strategically invested in our marketing initiatives, prioritizing digital campaigns and outdoor advertising in influential global hubs. This includes prominent placements like the Madrid airport advertising campaign and sponsorship of events such as the recent Rotterdam Marathon. We will launch more advertisements in major global markets to amplify our market presence in coming quarters and collaborate with major global channels like Decathlon, bringing our innovative full-range products to users during this summer sports craze to increase our sales for the second half of the year. With exciting new product launches on the horizon, and supported by our globalized research and management team, our confidence in our roadmap and future opportunities has never been stronger. We are confident that our strategic investments in expanding our brand, enhancing our retail presence, and diversifying our product line will drive growth and contribute to our long-term success."
Mr. Leon Deng, Zepp's Chief Financial Officer, added, "The first quarter is traditionally a slower season of us, with a significant decline of Xiaomi products sales plus a more subdued new product launch window of our self-branded products, leading to a revenue decline of this quarter compared with last year. However, we continue to achieve a historically high gross margin of 37%, a testament to the superior performance of our self-branded products and a well-calibrated product mix that included a higher proportion of new offerings and reduced clearances. This accomplishment distinctly embodies our strategic intent to prioritize profitability over scale. We judiciously maintained our GAAP and adjusted operational expenses at or below US$30 and US$28 million per quarter, consistent with since the second quarter of last year and in line with our financial forecasts. Our commitment to stringent discretionary spending controls remains unwavering. We persistently pursued a cost-conscious approach while continuing to invest strategically in R&D and marketing initiatives to uphold our competitive edge."
Leon continued, "We have also maintained vigilant oversight of our working capital throughout the first quarter. Despite a P&L loss, we successfully sustained a positive operating cash flow for the seventh consecutive quarter. In the first quarter of 2023, we initiated a retirement of portions of our short and long-term debt portfolio. Since the first quarter of 2023, we have successfully retired US$46.7 million of debt. As our operating cash flow continues to strengthen, we intend to do more in the coming quarters. With a robust cash reserve of US$132.3 million, we are exceptionally well-positioned to seize strategic investment opportunities and capitalize on potential market expansions. As we progress through 2024, our dedication to operational excellence and strategic foresight remains steadfast. We are resolute in our commitment to enhancing the engagement and satisfaction of our users through continuous innovation in product features and applications. In the interim, we'll persist in our share repurchase program, a tangible demonstration of management's unwavering confidence in the company's trajectory."
First Quarter of 2024 Financial Summary
First Quarter 2024 Financial Results
Revenues
Revenues for the first quarter of 2024 reached US$39.8 million, a decrease by 55.5% from the first quarter of 2023. The decrease was primarily due to the decrease in the sales of Xiaomi wearable products, as well as the decrease in sales of our self-branded products as we did not launch any new self-branded products in the first quarter of 2024.
Total units shipped in the first quarter of 2024 decreased by 65.7% year-over-year to 1.2 million, compared with 3.5 million in the first quarter of 2023.
Gross Margin
Gross margin in the first quarter of 2024 was 36.8%, compared to 15.9% in the same period of 2023. We reached another record-high quarterly gross margin since the third quarter of 2023, supported by the strong performance of our self-branded products and a more favourable product mix, with a higher proportion of new products and a reduction in clearance sales, which typically have lower margins.
Research and Development Expenses
Research and development expenses in the first quarter of 2024 were US$13.3 million, a decrease by 18.4% year-over-year. This accounted for 33.5% of revenues, compared to 18.3% for the same period in 2023. The decrease was as a result of our refined research and development approaches, as we consistently evaluated resource efficiency to ensure maximum return on investment and productivity. We are committed to investing in new technologies, including AI, to maintain our competitive edge against our peers.
Selling and Marketing Expenses
Selling and marketing expenses in the first quarter of 2024 were US$10.7 million, a decrease by 10.1% year-over-year. This accounted for 26.9% of revenues, compared to 13.3% for the same period in 2023.
The decrease was primarily as a result of our consistent push on retail profitability and channel mix improvement, which included meticulous refinement of our retail channels and strategic staffing arrangements across sales regions. Simultaneously, we've strategically invested in our marketing initiatives, prioritizing digital campaigns and outdoor advertising in influential global hubs. We are committed to investing efficiently in marketing and branding to ensure our sustained growth.
General and Administrative Expenses
General and administrative expenses were US$6.4 million in the first quarter of 2024, a decrease by 7.9% year-over-year. This accounted for 16.0% of revenues, compared with 7.7% in the same period in 2023. The decrease in absolute value was largely attributable to our personnel optimization initiative and strict administrative expense control.
Operating Expenses
Total operating expenses for the first quarter of 2024 were US$30.4 million, a decrease by 13.5% year-over-year. Adjusted operating expenses, which exclude share-based compensation, were US$28.2 million. In the first quarter of 2024, we incurred one-off expenses of approximately US$0.5 million. We will maintain our cost-conscious approach in the upcoming quarters. We expect our operating expenses to either remain at current levels or decrease further. Concurrently, we remain committed to investing in R&D and marketing activities to ensure our long-term competitiveness.
Operating Income/(Loss)
Operating loss for the first quarter of 2024 was US$15.8 million, a decrease by 24.6% year-over-year. The reduced loss was largely due to the improved gross margin of our self-branded products and reduced operating expenses.
Net Income/(Loss)
Net loss attributable to Zepp Health Corporation for the first quarter of 2024 was US$14.6 million, a decrease by 22.8% year-over-year. The adjusted net loss attributable to Zepp Health Corporation, which excludes share-based compensation expenses attributable to Zepp Health Corporation, was US$12.4 million, a decrease by 20.4% year-over-year.
Liquidity and Capital Resources
As of March 31, 2024, the Company had cash and cash equivalents and restricted cash of US$132.3 million, We have generated positive cash flow from our operating activities for the seventh consecutive quarter. We also successfully reduced our total debt, including short-term and long-term bank borrowing balance, by US$0.7 million in the first quarter. We anticipate further reductions in our debt level in the upcoming quarters.
The Company continued to manage its working capital and inventory efficiently and recorded inventory levels of US$72.8 million as of March 31, 2024.This reached the lowest level since June 30, 2019, marking a decrease by 12.8% and 34.3% compared with December 31, 2023 and March 31, 2023, respectively. We will continue to manage working capital tightly.
Share Repurchase Program Update
The Company announced in its third quarter 2021 earnings release that the board had authorized a share repurchase program of up to US$20 million through November 2022. On November 21, 2022, the board authorized a 12-month extension of the Company's share repurchase program. On November 20, 2023, the board further authorized the Company to extend its share repurchase program for another 12 months. Pursuant to the extended share repurchase program, the Company may repurchase its shares in the form of American depositary shares and/or ordinary shares through November 2024 with an aggregate value equal to the remaining balance under the share repurchase program. As of March 31, 2024, the Company had used US$13.4 million to repurchase 5,497,137 ADSs. The Company expects to fund the repurchases under the extended share repurchase program out of its existing cash balance.
Outlook
For the second quarter of 2024, the Company's management currently expects net revenues to be between US$40 million and US$55 million, out of which more than 90% are expected to be generated from self-branded products. The new product Amazfit Helio Ring has just been launched, and its contribution to revenues is uncertain.
This outlook is based on current market conditions and reflects the Company's current and preliminary estimates of market, operating conditions and customer demand, which are all subject to change.
Conference Call
The Company's management team will hold a conference call at 7:00 p.m. Eastern Time on Monday, May 20, 2024 (7:00 a.m. Beijing Time on May 21, 2024) to discuss financial results and answer questions from investors and analysts. Listeners may access the call by dialing:
Participants should dial in at least 10 minutes before the scheduled start time and ask to be connected to the call for "Zepp Health Corporation".
Additionally, a live and archived webcast of the conference call will be available at http://ir.zepp.com.
A telephone replay will be available one hour after the call until May 27, 2024 by dialing:
About Zepp Health Corporation
Zepp Health Corporation (NYSE: ZEPP) is a global smart wearable and health technology leader, empowering users to live their healthiest lives by optimizing their health, fitness, and wellness journeys through its leading consumer brands, Amazfit, Zepp Clarity and Zepp Aura. Powered by its proprietary Zepp Digital Management Platform, which includes the Zepp OS, AI chips, biometric sensors and data algorithms, Zepp delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals. To date, Zepp has shipped over 200 million units, and its products are available in more than 90 countries and regions. Founded in 2013 as Huami Corp., the Company changed its name to Zepp Health Corporation in February 2021 to emphasize its health focus with a name that resonates across languages and cultures globally. Zepp has team members and offices across globe, especially in Europe and USA regions.
Use of Non-GAAP Measures
We use adjusted net income/(loss), a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. Adjusted operating expenses represent operating expenses excluding share-based compensation expenses. Adjusted operating income/(loss) represents operating income/(loss) excluding share-based compensation expenses. Adjusted EBIT represents net income/(loss) excluding share-based compensation expenses, income tax (benefit)/expense, interest income and interest expense. Adjusted net income/(loss) represents net income/(loss) excluding share-based compensation expenses, and such adjustment has no impact on income tax. Adjusted net income/(loss) attributable to Zepp Health Corporation is a non-GAAP measure, which excludes share-based compensation expenses attributable to Zepp Health Corporation, and is used as the numerator in computation of adjusted net income/(loss) per share and per ADS attributable to Zepp Health Corporation.
We believe that adjusted net income/(loss), adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in net income/(loss) and net income/(loss) attributable to Zepp Health Corporation. We believe that adjusted net income/(loss), adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.
Adjusted net income/(loss), adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation, should not be considered in isolation or construed as an alternative to net income/(loss), basic and diluted net income/(loss) per share and per ADS attributable to Zepp Health Corporation or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted net income/(loss), adjusted EBIT and adjusted net income/(loss) attributable to ordinary shareholders, presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
Exchange Rate
The Company's business is primarily conducted in China. This announcement contains currency conversions of RMB amounts into US$ solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB7.2203 to US$1.00, the effective noon buying rate on March 29, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on March 29, 2024, or at any other rate.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the cooperation with Xiaomi, the recognition of the Company's self-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions in China and the global. Further information regarding these and other risks is included in the Company's filings with the United States Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Zepp Health Corporation
Grace Yujia Zhang
Email: [email protected]
Piacente Financial Communications
Tel: +86-10-6508-0677
Email: [email protected]
SOURCE Zepp Health Corp.
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https://www.prnewswire.com/news-releases/zepp-health-corporation-reports-first-quarter-2024-unaudited-financial-results-302150195.html
| 2024-05-20T22:45:35
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| 0.950136
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As we enter another wildfire season, Environment and Climate Change Canada is advising people to pay attention to air pollution levels and check the Air Quality Health Index – especially on smoky days.
HOW CAN I CHECK THE AIR QUALITY READING IN MY AREA?
The Air Quality Health Index is at: https://weather.gc.ca/airquality/pages/index_e.html
You can take a look at the ratings in communities across your province or territory.
A rating of 1-3 is low risk, 4-6 is moderate risk, 7-10 is high risk and over 10 is very high risk.
Environment Canada also encourages people to download the WeatherCAN app and set personal notifications for the AQHI in their region.
HOW IS RISK ASSESSED?
Environment Canada, in consultation with Health Canada, has different recommendations for people especially at risk of suffering health problems when exposed to poor air quality versus the general population.
"At risk" people include those with respiratory and heart issues. Infants, young children, pregnant people and elderly people are also considered at higher risk. They may feel symptoms from air pollution even at "moderate risk" levels.
Environment Canada has a detailed breakdown on its website of how the different risk categories affect the general population and more vulnerable groups.
WHAT'S CHANGING THIS YEAR?
When the AQHI exceeds 10 due to wildfire smoke, indicating a “very high” health risk, a new type of air quality advisory will be issued warning of potentially worsening health effects and urging people to seriously consider cancelling outdoor events.
Users of Environment Canada's go-to website for weather conditions are now also able to see all active air quality-related alerts listed under a separate tab. When the AQHI reaches 10+, affected areas will be shown in red on the map.
Celine Audette, manager of health and air quality forecast services at Environment and Climate Change Canada, also said most provinces are now using an enhanced version of the AQHI, which measures the levels of fine particulate matter known as PM 2.5 on an hourly basis.
The enhanced AQHI runs two parallel calculations: the rolling average of three common air pollutants — ground-level ozone, nitrogen dioxide and PM 2.5. — and the hourly PM 2.5 levels. The AQHI score the public sees is based on whichever measure is higher.
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https://www.cp24.com/news/how-to-check-the-air-quality-health-index-and-assess-your-health-risks-1.6893961
| 2024-05-20T22:46:03
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en
| 0.939002
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A new study has linked the legalization of cannabis with a rise in the number of Ontario seniors visiting emergency rooms.
The number of people aged 65 and over checking into ERs in Ontario for what amounted to cannabis poisoning grew sharply over an eight-year period, particularly after cannabis was legalized, according to the report published Monday in the peer-reviewed medical journal JAMA Internal Medicine.
"These are not people getting too high, being giddy and laughing," said Dr. Nathan Stall, a geriatric specialist at Sinai Health in Toronto and lead author of the report.
"These are people very sick to the point where health-care practitioners, without knowing that they've consumed cannabis, consider other serious health conditions, like stroke, serious infection (and) serious metabolic abnormalities."
The study examined three periods over eight years, using deidentified Ontario Ministry of Health administrative data to get a sense of shifts in ER visits by older adults.
The first window covered pre-legalization spanning from early 2015 until just before legalization in October 2018, while the second period started when dried cannabis sales were rolled out. The third span covered nearly three years after edibles were introduced into the market in January 2020.
The study reported the pre-legalization rate of emergency room visits among older adults, which stood at 5.8 per 100,000, soared to 15.4 per 100,000 during the first phase of legalization. The rate rose again to 21.1 per 100,000 once edibles were legalized.
Researchers suggest the data may underestimate the magnitude of cannabis poisonings in older adults, since the study only tracks ER visits and doesn't account for people who sought care elsewhere or not at all.
Stall said the legalization of edibles occurred just before the COVID-19 pandemic lockdowns, which may have deterred some people from visiting ERs.
The findings come after several recent studies outlined a rise in the number of kids hospitalized for accidental cannabis poisonings after legalization. Those figures saw a notable spike after edibles such as THC-infused gummies, chocolates and baked goods were approved for sale in 2020.
A 2022 report published in the New England Journal of Medicine, for instance, found hospitalizations jumped more than two-and-a-half times immediately after Canada greenlit the recreational use of cannabis. The study looked at cases in Ontario, Alberta, British Columbia and Quebec.
The hospitalization rates rose again in Ontario, Alberta, and British Columbia after those provinces approved edibles in January 2020 — while rates stayed the same in Quebec, which did not permit edible sales.
While Stall's report on older adults only included ER visits and not rates of hospitalization, he said the data "saw similar effects of increasing hospitalization for cannabis poisoning with the legalization of edibles."
The latest study of older adults was unable to conclude how many of the poisonings were intentional such as self-medicating or unintentional such as accidental ingestion, but Stall said it's likely many users hadn't accounted for other factors before consuming cannabis.
For instance, he said users who use cannabis coupled with other medications could experience negative effects or unintended drug interactions, while changes to body fat composition with age could affect how quickly the drug left people's bodies.
Some older adults who consumed may have also been unfamiliar with how edibles differ from smoking cannabis, he added.
"When you take edible cannabis and the drug effects are delayed for about three hours and you don't feel anything after an hour, an hour and a half. They may be prone to take additional doses to try and reach that high," he said.
"Once peak effect occurs, you have a phenomenon known as 'dose stacking,' where you're stacking multiple doses together and that's a contributor to poisoning."
Stall said the findings suggest there's room for improvement in education, ranging from public awareness campaigns to clear dosage guidelines for older adults on cannabis packages.
He also said health care providers should recognize many older adults are using cannabis and be willing to "have open and judgment-free conversations about its use."
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https://www.cp24.com/world/cannabis-legalization-coincided-with-uptick-in-er-visits-from-seniors-study-1.6894037
| 2024-05-20T22:46:09
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en
| 0.96765
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DALLAS (AP) — They're six-legged, hairy home invaders that just won't die, no matter how hard you try.
Cockroaches are experts at surviving indoors, hiding in kitchen pipes or musty drawers. But they didn't start out that way.
A new study uses genetics to chart cockroaches' spread across the globe, from humble beginnings in southeast Asia to Europe and beyond. The findings span thousands of years of cockroach history and suggest the pests may have scuttled across the globe by hitching a ride with another species: people.
“It’s not just an insect story,” said Stephen Richards, an assistant professor at Baylor College of Medicine who studies insect genes and was not involved with the study. “It’s an insect and humanity story.”
Researchers analyzed the genes of over 280 cockroaches from 17 countries and six continents. They confirmed that the German cockroach — a species found worldwide — actually originated in southeast Asia, likely evolving from the Asian cockroach around 2,100 years ago. Scientists have long suspected the German cockroach's Asian origins since similar species still live there.
The research was published Monday in the journal Proceedings of the National Academy of Sciences.
The cockroaches then globe-trotted via two major routes. They traveled west to the Middle East about 1,200 years ago, perhaps hitchhiking in soldiers' breadbaskets. And they may have stowed away on Dutch and British East India Company trade routes to get to Europe about 270 years ago, according to scientists' reconstruction and historical records.
Once they arrived, inventions like the steam engine and indoor plumbing likely helped the insects travel further and get cozy living indoors, where they are most commonly found today.
Researchers said exploring how cockroaches conquered past environments may lead to better pest control.
Modern-day cockroaches are tough to keep at bay because they evolve quickly to resist pesticides, according to study author Qian Tang, a postdoctoral researcher studying insects at Harvard University.
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https://www.cp24.com/world/how-cockroaches-spread-around-the-globe-to-become-the-pest-we-know-today-1.6893991
| 2024-05-20T22:46:15
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en
| 0.951817
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Van Leeuwen Ice Cream usually draws customers with gourmet takes on classics like vanilla and pistachio. But occasionally, the artisanal ice cream maker headquartered in New York slips in what it calls a “shock flavor,” like Hidden Valley Ranch or pizza.
Surprising flavor combinations – think gravy-flavored Jones Soda or Sour Patch Kids Oreos -- are showing up more frequently in grocery stores and restaurant chains.
Hershey recently introduced pink lemonade-flavored Kit Kats, while IHOP and Lay’s brought out Rooty Tooty Fresh n’ Fruity potato chips, designed to taste like strawberry-topped pancakes with a hint of bacon. In the United Kingdom, Little Moons made fish-and-chips mochi ice cream in 2021, while potato chip brand Walkers is known to celebrate Christmas with a Brussels sprout-flavored edition.
Usually, these are limited-time flavors, although occasionally they're so popular they wind up on store shelves permanently, as Lay's Flamin' Hot Dill Pickle chips did in 2019.
While it's tempting to pass them off as social media stunts, experts say there’s more to the story. Food companies are responding to the changing and expanding tastes of consumers while also trying to keep brands relevant and distinct to win space on crowded store shelves.
“We’re in a really exciting time of flavor development where consumers are not just one thing. You’re not just a sour lover or a sweet lover. You want a little of this and a little of that,” said Kristen Braun, the senior brand manager for Oreo innovation at Chicago-based food and beverage company Mondelez International. “Companies are finding the freedom to explore a little bit more and get more creative.”
Sour Patch Kids Oreos – vanilla cream-filled cookies speckled with colorful bites of the sour candies – are one of about a dozen limited-edition Oreo flavors that Mondelez plans to release this year. Braun said it takes the company one or two years to develop such products, which stay on shelves for about nine weeks. She’s already thinking ahead to future flavors that blur the lines between sweet, salty and spicy.
Oddball pairings aren’t entirely new in the food and beverage industry. Hubba Bubba released a bubble gum-flavored soda in the late 1980s, for example. But manufacturers and their suppliers have gotten more sophisticated and efficient, making it easier to experiment and put out limited-editions more frequently, said Mark Lang, a food marketing expert and associate professor of marketing at the University of Tampa.
Kyle Shadix, who as the corporate executive research chef for PepsiCo, has worked on beverages like Pepsi Maple Syrup and a strawberry shortcake Pepsi sold in Japan, said the members of Generation Z are also fueling innovation. They're diverse, adventurous and pick up on food trends quickly through social media, he said.
“They're every chef's dream to design for,” said Shadix, who is currently experimenting a lot with Mexican, Korean and Japanese flavors. “Gen Z is going to drive us faster. We’re going to start to see even more exploration quicker than in the past because they’re just so open to it.”
Toying with flavors can boost brands in several ways. Sometimes they bring new customers to a brand. They might also nudge buyers to pick up the original flavor, Russell Zwanka, director of the food marketing program at Western Michigan University, said.
“Sour Patch Oreos sound interesting, but nobody wants to risk buying Oreos that don’t taste good, so people buy both,” Zwanka said.
When companies combine brands, they're trying to build an association in consumers' minds. Peeps-flavored Pepsi, which came out last year, sends the message that Pepsi is current and fun, Lang said. Mustard-flavored Skittles, which came out last summer, made the 104-year-old French's brand seem playful.
Enter Kraft Heinz, which approached Van Leeuwen Ice Cream a few years ago about macaroni and cheese-flavored ice cream. Ben Van Leeuwen, the company’s co-founder and CEO, was doubtful at first but found that Kraft’s powder blended well with the Brooklyn-based company's ice cream.
Van Leeuwen's Kraft Macaroni and Cheese ice cream came out to rave reviews in 2021 and was re-released for a short time last fall.
“We will only do a shock flavor if we can make it good and distinct. We will not do a shock flavor where it’s just shock in name but taste like vanilla,” Van Leeuwen said.
But novel flavor combinations don’t always work. Van Leeuwen couldn’t eat more than a few bites of his company’s Hidden Valley Ranch ice cream, which contained onion and garlic powders. And shock flavors typically don’t end up on the permanent menu because of their lower “eat-ability,” he said.
“I think you would taste our mac and cheese and you’d say, ‘Oh, that’s good,’ but do you want to take a pint of that mac and cheese from your freezer when you’re watching whatever show on Netflix and eat the entire thing? Probably not,” Van Leeuwen said.
Candy brand Brach’s ran into that issue with its Turkey Dinner Candy Corn, a 2021 limited-edition version of the fall staple that tasted like turkey, stuffing, green beans, cranberry sauce, apple pie and coffee. Katie Duffy, vice president and general manager of seasonal at Ferrara Candy Co., which owns Brach's, acknowledged there was a “gross-out” factor.
“We have learned from consumers that we don’t want to have something where they eat a few pieces of candy and then they toss it because there’s some things that they don’t want to repeat,” Duffy said. “We want it to be a delicious flavor journey.”
Brach’s recently introduced Easter Brunch-flavored jelly beans, and they hit that mark, she said. The candy beans mimicked the flavors of blueberry maple pancakes, chocolate doughnuts, caramel cold brew, cinnamon rolls, berry smoothies and mimosa cocktails.
Shannon Weiner, senior director of insights and analytics at Ferrara, said the company closely tracks social media to see what flavors are trending. People are increasingly looking for dessert and dairy-flavored candies, she said. They’re also seeking more international flavors like Tajin, a brand of chile-lime spice from Mexico that recently did a collaboration with Pop Tarts.
Lang thinks the more time people spend in restaurants or trying out new foods, the more they seek out unusual flavors.
“We are variety-seeking animals. We constantly are seeking something new and different; it’s in our wiring,” he said. “We like to experiment.”
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https://www.cp24.com/world/sour-patch-kids-oreos-peeps-pepsi-what-s-behind-the-weird-flavors-popping-up-on-store-shelves-1.6894033
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In November, Calvin Hayden spoke to a fringe gathering of “America First” conservatives at a church in Kansas City. He told the crowd at Hope Family Fellowship Church that they were in the middle of a war between good and evil, that the Apple logo reminded him of Eve eating forbidden fruit, and that “a lot of the LGBT stuff and questioning the gender” might really be a Communist Chinese plot to “demasculinize our men and our warriors.”
Others on the lineup that day included Father James Altman, who had called for Pope Francis’ death two months prior, and Michael Flynn, Donald Trump’s former national security adviser and pardon recipient, who the following month would tell Alex Jones, “We’re moving towards the sound of the guns here, folks, and the sound of the guns is freedom.”
Hayden was a bit of a luminary himself: He is the sheriff of Johnson County, Kansas, the most populous county in the state, including Olathe and many of the Kansas City suburbs. An elected Republican, Hayden is in charge of a department of nearly 500 deputies, two jails and a crime lab. And for years, he’s pursued a secretive, taxpayer-funded investigation of the 2020 election results in his county, which flipped Johnson County from Trump to Biden.
Hayden is tight-lipped with the media and defensive with other government officials about his probe, but he’s usually happy to tell right-wing audiences about his work, as he did in his November speech, revealing that his office was looking into a tech contractor that Hayden said he’d heard had worked to “flip” large counties’ votes across the country.
“I don’t know that we can win an election anymore!” he said, adding later that he could not say whether “our elections are safe.”
For years, the sheriff has operated like this, dribbling out loaded rhetoric about Johnson County’s elections without actually updating the public on his findings. Later that day, responding to a question from the audience, Flynn suggested that Hayden “ought to go arrest those people” at the Johnson County elections office if they impeded his investigation.
But Hayden may have miscalculated. After running unopposed for reelection in 2020, the sheriff’s wandering election probe has earned him some prominent critics throughout Kansas, and two challengers for the sheriff’s office.
Things really started to fall apart earlier this month. Weeks after claiming he’d had a warrant “in hand” to seize the county’s ballots for his investigation, Hayden acknowledged publicly that the supposed warrant wasn’t actually valid — no judge had signed it, despite every implication otherwise.
That admission drew condemnation from across Johnson County and the state. The Kansas City Star reported flatly that the county’s sheriff had “lied.” Mike Kuckelman, the former Kansas GOP chair, urged Johnson County’s undersheriff to report the sheriff to the district attorney and a statewide standards body. Byron Roberson, a Democratic local police chief who’s running for sheriff this November, told HuffPost that Hayden’s stunt was an “extremely dangerous practice.” And Doug Bedford, a Republican and Hayden’s former second in command — and his current Republican Party primary challenger — ramped up his criticisms of Hayden in an interview last week.
“The sheriff is expected to execute the duties of the office with integrity [and] competence ... If this isn’t taking place, I think that that is a threat to public safety,” Bedford told HuffPost, adding that he was “very disappointed” in his former boss.
“Everything indicates that he was untruthful,” Bedford said.
Down The Rabbit Hole
To hear Hayden tell it, his interest in elections is the result of a deep dive down the conspiratorial rabbit holes pushed by Donald Trump supporters after Trump’s 2020 loss.
Speaking to a fringe law enforcement group in July 2022, Hayden said he initially “didn’t know anything about elections,” and that he first heard rumblings about the integrity of his county’s vote during meetings with Johnson County residents concerned about potential COVID-19 vaccine requirements. (Hayden in 2021 made a point of announcing he would not require sheriff’s deputies to be vaccinated for COVID.)
“In these meetings, these people started talking about the election issues, and I thought, ‘Yeah, OK,’ because I always took for granted the elections were OK,” Hayden recalled to the Constitutional Sheriffs and Peace Officers Association, which promotes the belief that sheriffs have the authority and obligation to ignore state and federal laws they deem unconstitutional.
“Then the presidential election came and there was this big overturn,” Hayden said. Separately during the event, Hayden and several other sheriffs sat onstage under a projection that read “Election Fraud HAS HAPPENED.”
Local media picked up the sheriff’s speech, and the Star’s editorial board called for his resignation, calling him “a threat to the rule of law.”
In a statement to KCTV a week after the speech, Hayden’s office called the Constitutional Sheriffs’ event “a non-partisan panel to answer concerns about election fraud,” even though nearly the entire event was dedicated to the lie that the 2020 election had been stolen from Trump.
A week after the event, Hayden’s office claimed in a statement that since the fall of 2021, the office had received “more than 200 tips alleging fraud in our local elections.” This, too, turned out to be literally unbelievable: Midwest Newsroom filed a records request for reports of any election-related crimes since 2020, and received only one document, which had not been turned over to the district attorney.
Kansas Secretary of State Scott Schwab, a Republican, also called foul on the “200 tips” claim: “We got about 12,” he told KSHB. “That 200 seems like a big number, because we didn’t see those 200. I know Attorney General Schmidt hasn’t shared anything of that size of a number either.”
Indeed, there’s little evidence of any problems in Kansas elections. After Kansas voters overwhelmingly voted to keep abortion protections in the state constitution in August 2022, a hand recount that same month of nine counties — including Johnson — lowered the pro-choice side’s margin of victory by just 63 votes, out of 556,364 recounted ballots. In Johnson County, the margin changed by just two votes. (Hayden expressed suspicion of the recount results because Johnson County government employees participated in the recount, and he said they are “surviving on government.”)
A database of election crimes maintained by the right-wing Heritage Foundation lists just one case since 2019. Steve Watkins, a former Republican congressman from the state, faced three felony charges related to voting in the wrong district in a Topeka city council race, and subsequently lying to a detective about it. Watkins entered into a diversion agreement to avoid trial, and is now back in Washington, D.C., as a lobbyist. More recently, a Florida man was arrested in February for allegedly forging signatures on petition sheets used to qualify the group No Labels as an official political party in Kansas. (No Labels still ultimately had enough signatures to qualify as a political party, even without the forged signatures.)
Nevertheless, since the start of his probe, Hayden has developed a habit of speaking in alarmist language about the supposed rot at the core of Johnson County’s elections.
On March 1, 2022, when the Star and the Shawnee Mission Post first reported on his investigation, Hayden told the Star, “It’s still a pending investigation, but I can tell you we have found some things and some numbers; part of them are a mathematical impossibility.” He declined to go into specifics.
“We think there’s been some shenanigans going on with the election,” he told the Northeast Johnson County Conservatives a few months later, in May, before an airing of “2000 Mules,” the conspiracy theory film that, completely devoid of any evidence, asserted a massive ballot-tracking operation stole the election from Donald Trump in 2020. Hayden said he’d assigned detectives to investigate. “We look at the polls, we look at the numbers, and they just don’t match up,” he said. “I don’t know how a guy in his basement won the largest amount of votes in the history of anywhere.”
After the CSPOA event, Hayden told The New York Times he was looking into “ballot stuffing,” “machines” and “all of the issues you hear of nationally.” Two months later, he said he believed election machines were programmed by “foreign entities, and they’re manipulating the vote how they want to.” As evidence, he said he’d seen graphs of “rigged” elections, which showed “convoluted” lines. Pressed by someone in the room for details, the sheriff said, “they call it fractional voting,” a reference to the conspiracy theory that election machines across the country gave Trump and others a fraction of each whole vote they received.
On several occasions, he’s said an unnamed “they” want the next generation of Johnson County residents to live in apartment buildings rather than becoming homeowners. “They’re taking our kids’ dreams, and our kids want a piece of the world,” he told one gathering in September 2022. Later in the event, he described being on a plane with several immigrants that he said had just arrived at the Southern border, speculating that they would use public assistance cards and Kansas’ online voter registration system to vote illegally.
“They want everybody that they can get in the door to vote,” Hayden said. “They don’t care if they can speak English, anything, they want the vote.”
“We look at the polls, we look at the numbers, and they just don’t match up. I don’t know how a guy in his basement won the largest amount of votes in the history of anywhere.”
It’s true that Hayden’s jurisdiction has gone through a transformation during his tenure. Johnson County, like other suburban counties outside growing metropolitan areas around the United States, has gotten more populated, more diverse, and more Democratic since Hayden first became sheriff in 2017, and certainly since he first joined the force in 1981.
Between 2010 and 2020, Johnson County added 65,684 residents, marking the most growth in the entire Kansas City region, according to a report from the Mid-America Regional Council. People of color made up 92% of the region’s population growth during that period, according to the same report. And since 2005, the GOP share of voter registrations has fallen nearly 10% in Johnson County, while there was a 41% rise in registered Democrats between 2016 and 2020 alone.
In 2018, Rep. Sharice Davids (D-Kan.) unseated the four-term Republican congressman Kevin Yoder to represent the county to become one of the first two Native American congresswomen, along with Deb Halaand, who’s since become Interior Secretary. Davids is currently on track for a fourth term. The county has also formed the foundation of Democratic Gov. Laura Kelly’s two terms in office.
Mark Johnson, an election lawyer and law professor who’s represented several candidates running in the county, told HuffPost that the northeast quadrant of the county, the area bordering Kansas City and the Kansas-Missouri border, “has gone in the past 25 years from staunchly Republican to staunchly Democrat.” The same area could ultimately be responsible for breaking Republicans’ decade-old supermajorities in the Kansas legislature this year, he said.
Trump hasn’t helped. In both 2016 and 2020, he underperformed Republican presidential nominees in the county at least as far back as George W. Bush, according to a preliminary Kansas City Star analysis; Joe Biden, meanwhile, earned nearly 7% more of the vote in the county than Hillary Clinton. Trump’s loss in 2020 was the first time in over 100 years that a Republican hasn’t carried the county, a fact Hayden pointed out in his speech in Las Vegas.
Still, even the sheriff recognized the political reality on the ground.
“A lot of people are coming to move here. We get about 10,000 a year moving to Johnson County, but they’re bringing some of their politics from the crummy places they live to my county,” he said. “And it’s not fun.”
County Colleagues Push Back
Before long, other county officials grew alarmed at Hayden’s sudden interest in elections.
In July 2022, a couple days after Hayden and several deputies held a meeting with county election staff, the county’s chief counsel, Peg Trent, wrote an alarmed letter to the sheriff, memorializing the meeting and what she said were several concerning requests that might make it look as if “the Sheriff’s office is attempting to interfere with an election and to direct a duly authorized election official as to how an election will be conducted.”
During the meeting, according to Trent’s letter, Hayden questioned why ballot drop boxes were located at libraries, and whether the county’s election commissioner, Fred Sherman, would eliminate drop boxes. Hayden also reportedly offered to have sheriff’s office staff drive unmarked vehicles to pick up ballots from drop boxes, and suggested the ballots be counted at the drop box sites. According to Trent, a Hayden staffer also requested that sheriff’s deputies be present to observe the counting of ballots, and Hayden noted that the election office’s signature verification process “is not done in compliance with how the Sheriff’s Office conducts investigations for criminal matters.”
Hayden’s office denied Trent’s characterization of the meeting — a spokesperson said “we have no intention of asserting ourselves into any election” — but the letter made national news, and brought the simmering tensions between Hayden and other county officials into the spotlight.
A few days after the meeting, and right after Hayden’s speech in Las Vegas, Sherman, the election commissioner, responded to Hayden’s remarks on Twitter: “I stand by the integrity and accuracy of Johnson County, KS elections,” he wrote.
But rather than taking the pushback to heart, Hayden elevated the beef. In statements to news outlets, Hayden accused Trent “and her office” of knowingly violating the Kansas law governing how ballots can be returned on behalf of others. Hayden offered no explanation of how Trent might have broken the law, and there’s no indication he brought the alleged wrongdoing to the district attorney’s office. Rather, the sheriff simply said he would “continue to deal with Ms. Trent until we reach a successful conclusion and ensure all election laws are followed.”
That would not be the last time the county’s top cop would accuse other public officials of breaking the law. Testifying before the Kansas Senate Federal and State Affairs Committee in March 2023, Hayden alleged that his office had uncovered “willful violations” of the law by both Schwab, the secretary of state, and Sherman, the county election commissioner. Hayden claimed he’d alerted District Attorney Steve Howe of his findings, but complained that there weren’t criminal penalties for the unspecified violations he’d uncovered.
But a simple records request, yet again, belied his claim. When the Johnson County Post asked for relevant records, it received only one record of an elections-related case referred from Hayden to the district attorney — an allegation of voter intimidation, for which there was “no evidence supporting charges,” Howe later said. “Sheriff Hayden’s statements consistently lack merit. This multi-year investigation ― at taxpayer expense― has produced no evidence of foul play in Kansas’ elections,” a spokesperson for Schwab said at the time. Last week, a spokesperson for Johnson County declined HuffPost’s request for comment.
Legislators who heard Hayden’s testimony were similarly wary.
State Rep. Pat Proctor, a Republican who chairs the chamber’s elections committee, noted most election crimes were already felonies, the Star reported.
“I mean, what is he looking for, crucifixion?” Proctor said.
Battle Over Ballots
The most contentious fight in Hayden’s investigation, by far, has been over access to the county’s ballots.
Under Kansas law, old ballots are supposed to be destroyed after six months for local elections, and 22 months for state and national elections. But throughout his investigation, Hayden repeatedly pushed the county to preserve ballots, dangling the possibility of a major breakthrough. Still, even after months of talk, Hayden acknowledged in September 2022 that he didn’t have the goods.
“I’ve got to have enough probable cause for a warrant … I’m getting close, I’m getting really close,” he said, before telling his audience he was “about two months away from having this thing solved.” But he wasn’t. For more than a year, the investigation continued without any public progress.
By late 2023, the secretary of state’s office had taken notice, encouraging Johnson County to follow the law “in time to focus on the March 19th Presidential Preference Primary,” a spokesperson for Schwab told HuffPost in an email. The county reached out to the sheriff’s office, asking about the status of the investigation. A detective responded, saying “potential evidence for this investigation should not be destroyed,” but no warrant ever materialized. The county appointed bipartisan observers for the ballot destruction.
Then, the conflict escalated: Kris Kobach, Kansas’ attorney general — and a voter fraud alarmist who backed Trump’s lie that millions of illegal votes were cast in 2016 — wrote to the county, urging them to preserve the ballots. A county commissioner and state senator sympathetic to Hayden wrote to Kobach, asking for formal opinions on whether the county even had the legal authority to destroy the ballots. Trent followed up with her own letter to Kobach, saying the formal opinion process was being “inappropriately utilized for potential criminal prosecution of the Johnson County Election Commissioner.” Kobach hasn’t yet issued an opinion, and his office didn’t respond to written questions. Still, the sheriff did not produce a warrant.
In February, Johnson County finally destroyed the ballots. Only then did Hayden make his first claim about a warrant, at an April candidate’s forum hosted by the Johnson County GOP.
“As we stand here today, we had a search warrant in hand and had talked with the district attorney, and we were working on getting the documents needed when they decided in a hurry to destroy the records,” he said, the Johnson County Post reported.
The district attorney’s office contradicted the sheriff within a few days, saying it was “unaware of any search warrant being submitted to a judge for review.” Then, this month, Kuckelman, the former state GOP chair, confronted Hayden about his claim. Video posted on Facebook showed a clip of the exchange, which took place at a candidate’s forum in Olathe. Hayden waved a piece of paper in the air and spoke angrily at Kuckelman.
“You can read that, can’t you?” Hayden said to Kuckelman, complaining about being accused of wrongdoing. “[District Attorney] Steve Howe was with me, and five of my officers were,” Hayden said, without specifying what he meant.
“Which judge signed it?” Kuckelman asked of the document.
“There’s no judge,” the sheriff replied.
“No judge? A judge has to sign a search warrant to be valid,” Kuckelman shot back.
“I didn’t say it was valid!” Hayden said, as organizers scrambled to intervene.
The Fallout
Looking back over the past three years of the sheriff’s investigation, Mike Kelly — who was elected chair of the county commission in November 2022, and who was a critic of Hayden’s even before that — stressed just how little Hayden seems to have to show for his work.
“We’re no further along now than we were then — and that’s because there isn’t anything there,” Kelly said. “We try always to be respectful of law enforcement, and everyone who wants to serve. But this whole process has been a huge disservice, especially to all the frontline men and women, when an elected official would degrade the important work they do by continuing on this process without any results for years. It’s become more a stage for, frankly, political theater than it has been for any real investigation.”
Kelly recalled a June 2023 county commission meeting where Hayden said he’d assigned two detectives to the investigation who “also work cold cases.”
“It’s never moved forward with any evidence of impropriety,” Kelly said.
Both of Hayden’s challengers for the sheriff’s office agreed it was unusual for an investigation like Hayden’s to go on for so long without any substantive updates. And both said that, according to what they’ve seen, Johnson County’s elections are trustworthy.
Roberson, the Democrat and current chief of the Prairie Village Police Department, said the lack of any concrete information from Hayden’s investigation made it feel more like a complex drug- or human-trafficking probe.
“This is not the case here,” he said. “It’s very unusual that no information is being disseminated about the investigation, where it’s at, or the allegations that have come out that aren’t substantiated.”
Bedford noted Hayden’s ever-shifting rhetoric on the probe: “The statements changed all the time, and that’s what I couldn’t understand. If something is there, tell us something’s there.”
Hayden did not respond to HuffPost’s repeated requests for comment.
But he’s not alone in leveraging his sheriff’s office to pursue election-related charges. In 2021, Christopher Schmaling, the sheriff of Racine County, Wisconsin, referred recommendations for criminal charges against five members of the state’s election commission, over their decisions regarding nursing home voting procedures during the pandemic. Racine’s district attorney declined to pursue charges.
And Dar Leaf, the sheriff of Barry County, Michigan, sent a deputy and a private investigator from town to town that year, trying to dig up information on the election. There have been several charges filed in Michigan — but none resulting from Leaf’s investigation. Rather, Leaf’s former attorney and a handful of others, including the former Republican nominee for Michigan attorney general, currently face charges related to improperly accessing voting machines.
Both Leaf and Schmaling attended the 2022 constitutional sheriffs event alongside Hayden.
It isn’t clear whether the median Johnson County voter supports Hayden’s work, though one county survey released in March assessed that the sheriff’s office was the “top priority for improvement” in the county, given that only 53% of respondents expressed satisfaction with the office — down a few points from 2020 — while nearly one-fourth of respondents said the office was one of the most important services the county provided.
Still, just as the national Republican Party has moved to the right during the Trump Era, so have Kansas Republicans. In February last year, 90 out of 179 delegates narrowly elected an election conspiracy theorist, Mike Brown, to lead the state GOP.
The same shift happened in Johnson County. When the first reports emerged in March 2022 of Hayden’s probe, the then-county GOP chair, Marisel Watson, said in a statement, “The official position of the Johnson County Republican Party Leadership is that the election in our country is secured. We trust in the work of election workers, the election commissioner, and the Secretary of State.”
It’s no longer clear that’s the case. Now, under new leadership, the Johnson County Republican Party’s social media channels are dotted with election conspiracy theories and other culture war chum.
In March, the party posted a video on X of Melissa Leavitt, an activist in western Kansas who fundraised for the recount of the abortion vote despite the pro-choice option winning by 165,000 votes. In the video, Leavitt urged viewers to pressure legislators to support a wide-ranging bill that would, among other things, require a hand count of Kansas’ hundreds of thousands of ballots every election, eliminate the use of remote drop boxes by counties, and end a three-day grace period for accepting mail-in ballots.
“This is the top thing in our nation right now,” Leavitt said. “How do you think we ended up with this crisis? It didn’t come from fair and free and true and fraud-less elections, I’ll tell you that.”
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https://www.huffpost.com/entry/calvin-hayden-johnson-county-kansas-sheriff-election-fraud-investigation_n_664ba105e4b03e832e4c3007
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Hey, even if it was a mistake, Emma Stone will take it.
The Oscar-winning actor was answering questions during a press conference for her upcoming film “Kinds of Kindness” at the 2024 Cannes Film Festival Saturday when a reporter from Kazakhstan stood up and addressed Stone in a way that made her visibly delighted.
“My questions go to Emily Stone and Yorgos Lanthimos, so Emily...” the reporter asked Stone and the film’s director, Yorgos Lanthimos.
Thinking that the journalist had made a mistake with Stone’s name, Lanthimos quickly corrected the reporter by saying “Emma” — but Stone jumped in and said: “My name is Emily, thank you. Very nice.”
Although it’s unclear if the reporter knew Stone’s real first name, or inadvertently used a similar-sounding name, Emily is in fact the “Poor Things” star’s actual name — and the reporter’s timing in addressing her as “Emily” was exquisite.
Only a month ago, Stone made headlines after Nathan Fielder referred to her as “Emily” instead of “Emma” during a joint interview for the Hollywood Reporter to promote their Showtime series, “The Curse.”
When the outlet asked if Stone would like it if more people referred to by her real first name, the “La La Land” star gave a resounding yes.
“That would be so nice. I would like to be Emily,” Stone said.
Stone has explained in the past that although her birth name is Emily Stone, she had to change it while earning her Screen Actors Guild card because there was already an actor named Emily Stone in the union.
But the reason why she chose “Emma” as her stage name may not be entirely because it sounds like “Emily.”
Stone implied to Jimmy Fallon in 2018 that her childhood obsession with the Spice Girls — and love for band member Emma Bunton aka Baby Spice — may have had a tiny influence.
“Growing up …I was super blonde — and my real name is Emily — but I wanted to be called ‘Emma’ because of Baby Spice. And guess what? Now I am,” Stone said with an embarrassed laugh.
She added, “It wasn’t necessarily because of her, but yes, in second grade, did I go up to the teacher on the first day and ask her to call me Emma? Yes I did. Was it because of Emma Lee Burton from the Spice Girls? Yes it was. So…”
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https://www.huffpost.com/entry/emma-stone-appears-visibly-giddy-reporter-uses-her-real-name_n_664ba2a4e4b02d9465eb112c
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FDIC Chairman To Resign Following Disturbing Report On Agency's 'Toxic Culture'
Martin Gruenberg will step down from his post once a successor is appointed.
KEN SWEET
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NEW YORK (AP) — Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation, will step down from his post once a successor is appointed, the White House said Monday.
Gruenberg’s announced departure comes after damning report about the agency’s toxic workplace culture was released earlier this month and political pressure from the top Democrat on the Senate Banking Committee, who called for his resignation earlier in the day.
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In a statement, the White House said that President Joe Biden will name a replacement for Gruenberg “soon” and called for the Senate to quickly confirm the person’s nomination.
Prior to the announcement, Sen. Sherrod Brown (D-Ohio) called for President Joe Biden to replace Gruenberg, saying the agency is broken and there must be “fundamental changes at the FDIC.”
Last week, Gruenberg was unable to convince Congress in testimony that he would be able to turn the agency around despite the report saying Greunberg himself was often the source of the problems.
“After chairing last week’s hearing, reviewing the independent report, and receiving further outreach from FDIC employees to the Banking and Housing Committee, I am left with one conclusion: there must be fundamental changes at the FDIC,” said Brown, chairman of the Senate Banking Committee.
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Up until Monday, no Democrats had called for Gruenberg’s replacement, although several came very close to doing so in their own statements.
In his statement, Brown did not call for Gruenberg, who was the middle of his six-year term as chairman of the FDIC, to be fired. Brown instead called on President Biden to nominate a new chair for the FDIC “without delay,” which the Senate would then confirm.
Republicans had been calling for Gruenberg to step down for some time. At Thursday’s hearing, Sen. Tim Scott, R-S.C. and the top Republican on the committee, detailed several stories of female FDIC workers who outlined extreme harassment and stalking by their coworkers, complaints that were dismissed by supervisors, according to the report.
“Marty — you’ve heard me say this to you directly — you should resign,” Scott said. “Your employees do not have confidence in you. And this is not a single incident. This spans over a decade-plus of your leadership at the FDIC.”
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Scott, who called for Gruenberg to step down in December when the initial allegations were made public, also called for the Banking Committee to hold a separate hearing on the FDIC’s workplace issues.
Gruenberg was involved in various levels of leadership at the FDIC for nearly 20 years, and this was his second full term as FDIC chair. His long tenure at the agency at the highest levels of power made him largely responsible for the agency’s toxic work environment, according to the independent report outlining the problems at the agency.
The report released Tuesday by law firm Cleary Gottlieb Steen & Hamilton cites incidents of stalking, harassment, homophobia and other violations of employment regulations, based on more than 500 complaints from employees.
Complaints included a woman who said she was stalked by a coworker and continually harassed even after complaining about his behavior; a field office supervisor referring to gay men as “little girls;” and a female field examiner who described receiving a picture of an FDIC senior examiner’s private parts.
The FDIC is one of several banking system regulators. The Great Depression-era agency is best known for running the nation’s deposit insurance program, which insures Americans’ deposits up to $250,000 in case their bank fails.
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Sheila Bair, who was chair of the FDIC through the 2008 financial crisis and was one of the most prominent voices from government at that time, posted on Twitter on Monday that it would be best for the agency if Gruenberg would step down.
“This controversy is hurting him and his agency. For his own sake and everyone at the FDIC, he should announce his intention to resign effective with the appointment,” she said.
____
AP Treasury Department Reporter Fatima Hussein contributed to this report from Washington.
Our 2024 Coverage Needs You
It's Another Trump-Biden Showdown — And We Need Your Help
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
The 2024 election is heating up, and women's rights, health care, voting rights, and the very future of democracy are all at stake. Donald Trump will face Joe Biden in the most consequential vote of our time. And HuffPost will be there, covering every twist and turn. America's future hangs in the balance. Would you consider contributing to support our journalism and keep it free for all during this critical season?
HuffPost believes news should be accessible to everyone, regardless of their ability to pay for it. We rely on readers like you to help fund our work. Any contribution you can make — even as little as $2 — goes directly toward supporting the impactful journalism that we will continue to produce this year. Thank you for being part of our story.
It's official: Donald Trump will face Joe Biden this fall in the presidential election. As we face the most consequential presidential election of our time, HuffPost is committed to bringing you up-to-date, accurate news about the 2024 race. While other outlets have retreated behind paywalls, you can trust our news will stay free.
But we can't do it without your help. Reader funding is one of the key ways we support our newsroom. Would you consider making a donation to help fund our news during this critical time? Your contributions are vital to supporting a free press.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
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Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you'll consider contributing to HuffPost once more.
|
https://www.huffpost.com/entry/fdic-chairman-resign-toxic-culture_n_664bc9a5e4b03b3a176c1131
| 2024-05-20T22:46:47
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en
| 0.96946
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Marriage is full of highs, lows and a whole bunch of ordinary moments in between. Somehow the married people on X, formerly known as Twitter, continue to find humor in the minutiae of wedded life.
Every week, we round up the funniest marriage tweets on the platform. Read on for 20 relatable ones that will have you laughing in agreement.
Like those celebrities who only wear an outfit one time, but it's my husband using a new cup every time he gets water
— meghan (@deloisivete) May 16, 2024
I'm making pumpkin bread and my husband just walked into the kitchen and said, so concerned, "you're baking. Are you depressed?"
— Eli McCann (@EliMcCann) May 16, 2024
“You’re not entirely wrong.”
— Mommeh Dearest (@mommeh_dearest) May 14, 2024
- Me refusing to admit my husband was right
My wife calls me Iron Man. Not because I’m rich, handsome and charming like Tony Stark, but because I iron all her clothes. And the fact that I’m a man.
— My Life As Dad (@milifeasdad) May 17, 2024
My husband is out of town, but the cupboard doors are still open, so now I have to face some cold hard truths about myself
— meghan (@deloisivete) May 20, 2024
My husband saw a rabbit in our yard eating grass and said “That would be like sitting in a field of french fries.”
— SpacedMom (@copymama) May 20, 2024
Me: Someone really wants to see my boobs.
— Hollie Harris (@allholls) May 17, 2024
Husband: Who?!!
Me: The hospital sent me another reminder to schedule my mammogram.
My wife and I setup a blow up movie screen in our yard together for a movie night tonight and we're still married.
— Dadman Walking (@dadmann_walking) May 19, 2024
Happy to report that I've achieved my goal of annoying my husband twice as much this year!
— sixfootcandy (@sixfootcandy) May 16, 2024
My husband, describing our fixer upper, “when it’s raining outside the house, it’s also raining inside the house.”
— krista pacion (@kristabellerina) May 15, 2024
My husband asked if I could iron his shirt like he doesn’t even realize the dryer has been doing the ironing all of these years.
— Sarcastic Mommy (@sarcasticmommy4) May 14, 2024
I'm not saying my wife shops on Amazon a lot, I'm just saying the notification, "A shipment has arrived" is now burned into the screen of my Echo.
— Rodney Lacroix (@RodLacroix) May 19, 2024
[accidentally doing something that my wife finds very annoying but also slightly amusing] ok, well time to make this a key feature of my personality for the next three months minimum
— Steven (with a ph) (@SJKSalisbury) May 19, 2024
Wife: Did you hear what I said?
— John Lyon (@JohnLyonTweets) May 16, 2024
Me: No, I was in a different room.
Wife: If you couldn’t hear me, why did you let me keep talking?
Me: …
I didn't feel like cooking, so I told my husband the water will be off in our building until 8:00 PM, so we’ll have to go out to dinner tonight. Lies are totally acceptable when they include margaritas.
— sixfootcandy (@sixfootcandy) May 14, 2024
Ok, so Wife made fun of me for trying to harmonize at the Ludacris concert…
— fundy (@funderlaw) May 18, 2024
…what can I say, once a choir boy, always a choir boouuyy.
My husband has now taken to standing directly behind me in the kitchen rather than in front.
— Late to the party Laura (@ericamorecambe) May 15, 2024
My husband just told me that shopping at Aldi without bags isn't called freeballing and I should stop saying that
— nice things I say to myself (@meantomyself) May 14, 2024
Marriage is fun because your husband can get mad at you for NOT wanting to waste money on something you absolutely don’t need
— Bird Eckler (@Birdeckler) May 17, 2024
My husband woke me up with coffee & said, “Let’s go to Lowe’s.”
— Sarcastic Mommy (@sarcasticmommy4) May 18, 2024
And that’s romance after 25 years.
Our 2024 Coverage Needs You
It's Another Trump-Biden Showdown — And We Need Your Help
The Future Of Democracy Is At Stake
Our 2024 Coverage Needs You
Your Loyalty Means The World To Us
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
The 2024 election is heating up, and women's rights, health care, voting rights, and the very future of democracy are all at stake. Donald Trump will face Joe Biden in the most consequential vote of our time. And HuffPost will be there, covering every twist and turn. America's future hangs in the balance. Would you consider contributing to support our journalism and keep it free for all during this critical season?
HuffPost believes news should be accessible to everyone, regardless of their ability to pay for it. We rely on readers like you to help fund our work. Any contribution you can make — even as little as $2 — goes directly toward supporting the impactful journalism that we will continue to produce this year. Thank you for being part of our story.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
It's official: Donald Trump will face Joe Biden this fall in the presidential election. As we face the most consequential presidential election of our time, HuffPost is committed to bringing you up-to-date, accurate news about the 2024 race. While other outlets have retreated behind paywalls, you can trust our news will stay free.
But we can't do it without your help. Reader funding is one of the key ways we support our newsroom. Would you consider making a donation to help fund our news during this critical time? Your contributions are vital to supporting a free press.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
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Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you'll consider contributing to HuffPost once more.
Already contributed? Log in to hide these messages.
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https://www.huffpost.com/entry/funniest-marriage-tweets_l_664bb4e9e4b03e832e4c3850
| 2024-05-20T22:46:53
|
en
| 0.955019
|
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
The 2024 election is heating up, and women's rights, health care, voting rights, and the very future of democracy are all at stake. Donald Trump will face Joe Biden in the most consequential vote of our time. And HuffPost will be there, covering every twist and turn. America's future hangs in the balance. Would you consider contributing to support our journalism and keep it free for all during this critical season?
HuffPost believes news should be accessible to everyone, regardless of their ability to pay for it. We rely on readers like you to help fund our work. Any contribution you can make — even as little as $2 — goes directly toward supporting the impactful journalism that we will continue to produce this year. Thank you for being part of our story.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
It's official: Donald Trump will face Joe Biden this fall in the presidential election. As we face the most consequential presidential election of our time, HuffPost is committed to bringing you up-to-date, accurate news about the 2024 race. While other outlets have retreated behind paywalls, you can trust our news will stay free.
But we can't do it without your help. Reader funding is one of the key ways we support our newsroom. Would you consider making a donation to help fund our news during this critical time? Your contributions are vital to supporting a free press.
Contribute as little as $2 to keep our journalism free and accessible to all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you'll consider contributing to HuffPost once more.
|
https://www.huffpost.com/entry/trump-trial-judge-merchan-clear-courtroom-costello_n_664baf67e4b03b3a176c069a
| 2024-05-20T22:46:59
|
en
| 0.960508
|
An Arizona man who kidnapped his estranged wife and buried her alive has been sentenced to life in prison without parole for her murder.
Sandra and David Pagniano were still living together amid divorce proceedings when he abducted her, bound her in packing tape and buried her in a grave he’d dug with his bare hands, authorities said.
Their two children, ages 8 and 12, were sleeping at the family’s home in Prescott during the kidnapping and were unharmed, authorities said.
Sandra Pagniano, 39, “vigorously struggled” and “was likely conscious for up to five minutes” while she was in the grave, Yavapai County Attorney Dennis McGrane said in a news release Friday.
McGrane’s office initially pursued the death penalty due to the “horrific circumstances” surrounding Sandra’s death, the attorney’s office said. David Pagniano, 62, ultimately pleaded guilty before his trial was set to start. He was sentenced to life on May 9 for the murder, and was given an additional 16 and a half years for kidnapping, fraud and forgery.
Two notes purportedly written by Sandra said that she was leaving and giving David her cars, their house and full custody of their children, authorities said. Investigators later determined that David had written the notes himself.
Sandra Pagniano was last seen on May 19, 2017, AZ Central reported at the time. Her body was found a week later, after a massive search, in a remote area 10 miles from her home, according to the Yavapai County Sheriff’s Office. David Pagniano was already in custody after being charged with second-degree murder in relation to Sandra’s disappearance. He did not tell investigators where to find his wife’s body; they used cellphone evidence and a cadaver dog to pinpoint the location of the grave.
A year after Sandra’s killing, her mother, who lives in Venezuela, said on Facebook that she still hadn’t processed her daughter’s death.
“She is an angel, surrounded by angels, and will always be remembered,” she wrote in Spanish in a 2018 post.
Need help? In the U.S., call 1-800-799-SAFE (7233) for the National Domestic Violence Hotline.
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https://www.huffpost.com/entry/woman-buried-alive-estranged-husband_n_6643fa5fe4b0f22a60f37a71
| 2024-05-20T22:47:05
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en
| 0.985439
|
Updated May 11, 2024 at 08:17 AM ET
VANCE, Ala. — If you want to understand the state of labor in America today, take a drive through Alabama.
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Not a long drive. Just a 25-mile stretch of I-20, between Tuscaloosa and Birmingham. Here, union hopes have been raised, dashed and dragged out over years.
This is the Deep South, after all, where anti-union attitudes are enshrined in state constitutions.
A major test of those attitudes comes Monday, when more than 5,000 workers at a Mercedes-Benz plant will begin voting on whether to join the United Auto Workers union. It's the latest expression of deep worker dissatisfaction in a part of the state that's home to two other fiercely-fought labor disputes, all situated right off the same highway.
Stop #1: Mercedes-Benz
Inside the seven-million-square-foot Mercedes plant in Vance, Ala., the journey to this dramatic juncture has been neither straight nor smooth.
You hear it in the story of Jacob Ryan.
When Ryan first got to Mercedes as a temporary employee 10 years ago, he remembers a coworker handing him a pro-union flier in the lobby.
"I read it and ended up throwing it away before I got to my team room," Ryan says. "I didn't want to be seen with a flier."
He feared it would jeopardize his future at the company.
Like his coworkers, Ryan knew the jobs at Mercedes were highly desirable. In a region that had lost its steel and textile industries long ago, the auto plant offered wages and benefits comparable to union jobs up north. The UAW didn't stand a chance in this environment.
In fact, a key reason the Alabama auto jobs even existed was because of the lack of unions. Alabama was among several southern states that lured foreign automakers with big incentives and the promise that unions would never be welcome. Within just a few decades, not just Mercedes, but Honda, Hyundai, Toyota and Mazda were all building cars in Alabama, adding tens of thousands of well-paying jobs to the state's economy.
In 2016, the state doubled down on its anti-union stance. Alabama voters overwhelmingly approved a constitutional amendment protecting the state's right to work law. Workers here cannot be forced to join unions or pay dues, even if their workplace is unionized.
Amid all of this, efforts by the UAW to drum up union support at Mercedes sputtered along for decades, gaining little ground. Until now.
Stagnant wages and a raucous strike change minds
Ask workers what changed, and they'll point to a number of factors, with two that stand out.
First, they say life at Mercedes changed over the past five years. Wage growth slowed, and in early 2020, the company introduced a two-tier wage system. New hires would never earn as much as coworkers hired before them, even when doing the same job.
Mercedes declined to comment on these changes or its pay structure, but East Carolina University professor AJ Jacobs, author of The New Domestic Automakers in the United States and Canada, says Mercedes has been facing competition from other luxury carmakers and pressure to transition to electric vehicles.
"They need to cut, cut, cut, due to the enormous transition costs," Jacobs wrote in an email.
A second turning point came last fall, with the UAW strike against Ford, General Motors and Stellantis (formerly Chrysler), which scored big wins for workers.
In Alabama, Jeremy Kimbrell, who's worked for Mercedes since 1999, was listening closely to the UAW's newly-elected president Shawn Fain railing against stratospheric CEO pay at Detroit's Big 3 automakers as worker wages were going backwards.
"You can tell right off, man, this guy don't play," says Kimbrell.
Just over a week after theBig 3 autoworkers ratified their record contracts, Mercedes workers began signing union cards. In three months, the UAW announced it had a majority of workers at the plant on board.
As the union campaign picked up steam, the company announced raises and an end to the two-tier pay system, according to workers who were agitating to join the union.
"They were hungry for it," Kimbrell says. "I've just been blown away by the lack of division inside the plant.
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And now, Ryan, who once feared holding a flier, is the guy handing them out.
Mercedes tells its workers: You don't need a union
Mercedes, for its part, has been trying to convince workers that they don't need a union.
"We believe open and direct communication with our team members is the best path forward to ensure continued success," Mercedes said through a statement provided to NPR.
Two weeks before the union election, the company announced a leadership change in Alabama. Workers say they're being told to give their new CEO a chance.
And for months, there have been the videos. According to workers, Mercedes has been starting every shift with videos suggesting unions are more trouble than they're worth. One mentions a long, painful and unsuccessful labor fight just across the I-20, with the implied lesson: Just because you have a union doesn't mean you get what you want.
Stop #2: The coal mines
Under the rolling hills of Brookwood, Ala., are a series of mines that produce metallurgical coal, the kind used in steelmaking. In 2021, about a thousand coal miners represented by the United Mine Workers of America went on strike and stayed on strike for nearly two years.
It was a long time coming. The problems started in 2015 when the company that owned these mines declared bankruptcy, blaming a sharp drop in coal prices and high labor costs.
A year later, Wall Street investors bought the business, renaming it Warrior Met Coal. Workers agreed to big cuts to their pay and benefits in a bid to save their jobs.
The miners believed the cuts were temporary. But five years later, they were still working the same jobs for less money. Feeling betrayed, they called a strike and demanded their old wages and benefits back.
With workers out of the mines for months on end, a food bank was set up. Donations were collected from around the country. The workers did collect strike pay from their union — around $800 every two weeks — but it was a struggle for miners like Antwon McGhee, who were accustomed to bringing home bigger paychecks for their dangerous work.
"I had house notes that I had to catch up on and some friends I had to go to to borrow money for those house notes," says McGhee, a 17-year veteran of the coal company.
Meanwhile, the company's financial picture was looking up. Steel prices were skyrocketing. Warrior Met brought in miners from out of state, and profits soared.
Finally, in 2023, the union called uncle and ended the strike. Many of the miners had already crossed the picket line or left for other jobs. A couple hundred went back underground to work in the mines, without a new contract.
Negotiations continue to this day, with little movement. Hourly wages continue to be below where they were in 2016, according to the union. Still, McGhee maintains that he doesn't regret the strike.
"If you have something that you believe in, you fight for it, win or lose," he says.
When it comes to the challenges that unions face, what's happening at Warrior Met is Exhibit A. Companies with resources can push back against unions, dragging out disputes for years. Another example of this lies just half an hour east along I-20.
Stop #3: Amazon warehouse
In late 2020, the Retail, Wholesale and Department Store Union stunned corporate America and the American public when amid the dark days of COVID, it announced it had collected enough employee signatures to call for a union election at an Amazon warehouse in Bessemer, Ala.
For the first time, thousands of hourly workers at an Amazon facility in the U.S. would vote on whether to unionize.
"It was really exciting," says Isaiah Thomas, a college student who worked on the docks at the warehouse. "To hear that workers were trying to unionize was a sense of hope."
Describing the job as "hell on earth," Thomas says workers were fed up with the constant monitoring and the ever-present fear of being fired for working too slowly. Some felt underpaid at a time when the company was raking in profits due to the pandemic.
But when the mail-in ballots were tallied, the vote was nearly two to one, against unionizing.
Among those voting no was JC Thompson, who sought a job at Amazon weeks after the warehouse opened, drawn by the starting wage of $15 an hour.
"Way above minimum wage, and you didn't need a degree," says Thompson.
When pro-union coworkers talked to him about unionizing, he'd simply ask why?
To the argument that workers needed more money, he'd respond, "Well, who don't need more money?"
The union election at Amazon remains unresolved
But the union's loss at Amazon in 2021 was not the final word. Labor officials found Amazon had illegally interfered in the union campaign, including by getting the U.S. Postal Service to install a mailbox on site where workers could drop their ballots. The union charged it was an intimidation tactic that kept some workers from voting out of fear that Amazon was surveilling the mailbox.
A do-over election was held a year later. That time, the election was too close to call, and again there were complaints that the election was tainted.
A new hearing is underway in Birmingham, which could lead to a third election.
Still, Michael Foster, who led the organizing at Amazon for the union, remains undaunted.
"This is not a rabbit race. This is a race for the turtles," he says.
He points to everything that's unfolded since the first Amazon vote: new unions at Starbucks, Trader Joes, REI. Strikes from coast to coast. The hot labor summer of 2023.
"I believe that's what our fight was for," says Foster. "To wake up a sleeping giant."
Momentum at Mercedes as the union election nears
Back at Mercedes, assembly worker Moesha Chandler, who joined the company early last year, is unbothered by the disappointments that have unfolded elsewhere along the highway she takes to work.
Inside the plant, enthusiasm for the union is undeniable, she says. "They're like 'What's the next move? What's the next step?'"
With the election at Mercedes nearing, Chandler's mind had already jumped ahead. She's been thinking about what it'll take to get a union contract.
"I know that we're going to have to strike, but I'm ready for it," she says.
Copyright 2024 NPR
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https://www.publicradiotulsa.org/npr-national-news/2024-05-06/how-a-stretch-of-i-20-through-alabama-tells-the-story-of-american-workers
| 2024-05-20T22:49:08
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| 0.982701
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PROVO, Utah — A Utah County judge ruled Monday that a man charged with murder in the deaths of two toddlers in 2022 will stand trial.
After a 4-day preliminary hearing in February and March, Judge Robert Lund ruled that there was enough evidence for the case of 27-year-old Kent Cody Barlow to be taken to trial.
Barlow is charged with two counts of 1st-degree felony murder in the deaths of Hunter Jackson and Odin Ratliff, who were both three years old in May 2022. Police say the two boys were playing in a corral in Eagle Mountain when Barlow crashed his car through the fence on the property, then hit the corral. The structure collapsed on top of the boys, which caused their death, according to the state medical examiner.
In Monday's ruling, Judge Lund wrote that the evidence showed a "reasonable belief" that Barlow had a "depraved indifference to human life," "knowingly engaged in conduct which created a grave risk of death to another," and "thereby caused the death of another."
Barlow is also charged with possession of methamphetamine after he was allegedly found with the drug in his possession, both in his vehicle and in his system.
A trial date has not yet been scheduled.
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https://www.fox13now.com/news/crime/man-accused-of-killing-2-toddlers-in-car-crash-ordered-to-stand-trial-for-murder-in-utah-county
| 2024-05-20T22:51:06
|
en
| 0.990791
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HOOPER, Utah — The Utah Inland Port Authority has approved plans for a massive development that environmental groups argue is too close to the Great Salt Lake.
But port authority leaders insist they are taking steps to protect the lake and the ecologically sensitive areas rather than allowing development to trample all over it.
"We feel like we’re playing a harmonious role and we can actually do a lot of good in protecting these areas," said Ben Hart, the executive director of the Utah Inland Port Authority, who took FOX 13 News and other news media outlets on a tour of the proposed site in western Weber County on Monday.
The area is more than 9,000 acres of farmland and wetlands near 900 South and 9400 West. Ogden Bay and the Harold Crane Waterfowl Management Area sandwich the site. Compass Minerals is on one end of it. The Union Pacific Railroad comes off the Great Salt Lake causeway, and it's the area where the West Weber Corridor (another highway) is planned. The area has been zoned for industrial development for decades, even though farms and ranches are nearby.
The inland port has been billed as one of the largest economic development projects in state history. A massive import-export center, it's designed to get goods in and out quickly through the region. A very controversial project originally planned for Salt Lake City's northwest side near the airport, the inland port has now pivoted to nine "satellite ports" around the state including the one in western Weber County.
Hart acknowledges the sensitivity surrounding the Great Salt Lake, which dropped to a historic low in 2022 as a result of water diversion, drought and impacts from a changing climate. The Great Salt Lake shrinking has set off alarm bells with the public and political leaders. The impacts from it include reduced snowpack (where 95% of Utah's water comes from), toxic dust from an exposed lake bed (arsenic is among the minerals in the sediment), as well as harms to public health and wildlife.
"The resources provided by the Great Salt Lake are something that has to be protected not just for waterfowl, but for future generations," Hart said.
To mitigate impacts to the area, the Utah Inland Port Authority is proposing to create "buffer zones" between development on the project site and wetlands. Any companies that build on the site must also agree to a wetland protection plan. The UIPA will also dictate that 3% of any tax differential handed out must be for wetland mitigation efforts.
"You start to get a sense for how do we create the right buffers and boundaries to make sure we’re protecting what should be protected and what’s available and should be and can be developed is able to be developed," Hart said.
But environmentalists question the logic of building a port so close to the lake. Even with the site being slated for industrial development, it has sat unused for decades. They are also skeptical of the Inland Port Authority's promises of a more environmentally friendly project.
Asked by FOX 13 News why they're doing so much wetlands mitigation when they could just not develop the area, Hart replied: "It’s a very good question. A lot of people feel like, 'Well, if the inland port goes away then all of this just stays the same.' That’s not true. The individual landowners up here are ready to develop. This is going to develop with or without the inland port."
On Utah's Capitol Hill, opponents of the project protested ahead of a meeting by the port authority board. Among them was Rhonda Lauritzen, who lives in Hooper near the proposed site.
"I'm not anti-development," she told FOX 13 News. "I get that we need some industrial parks. But this is nine thousand acres, right next to the Ogden Bay Waterfowl Management Area. It's sandwiched between Ogden Bay and the Harold Crane Management Area. It’s way too close and it’s way too big."
At the Utah Inland Port Authority Board's meeting, many of them spoke in opposition to the project, warning of harms from increased air pollution, over-development and threats to the Great Salt Lake. Weber County's economic development director spoke in favor of the project and believed it could be sustainable.
"This is an opportunity for us to actually build from the bottom up, a community that doesn’t have to out-migrate to Salt Lake and other areas to work and to live," said Stephanie Russell.
The board voted unanimously for the project. Environmental groups have told FOX 13 News they are exploring their options, including the potential for litigation.
This article is published through the Great Salt Lake Collaborative, a solutions journalism initiative that partners news, education and media organizations to help inform people about the plight of the Great Salt Lake—and what can be done to make a difference before it is too late. Read all of our stories at greatsaltlakenews.org.
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https://www.fox13now.com/news/great-salt-lake-collaborative/utah-inland-port-authority-approves-new-site-near-the-great-salt-lake
| 2024-05-20T22:51:12
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en
| 0.961243
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SALT LAKE CITY — As Salt Lake City police continue their investigation after a father allegedly shot and killed his 6-year-old son in a murder-suicide, health professionals spoke about the tough conversations that can come for parents following the incident.
"We struggle with not lying to the kids, but in a situation like this, a parent even saying, 'Well, you know, he died,' kids were going to want to know how he died," explained child and family therapist, Dr. Douglas Goldsmith.
Officers were called to a home on Van Buren Avenue in the Ballpark Neighborhood late Saturday, and inside they found the bodies of 34-year-old Samuel Owen and his son. Police believe Owen killed his son before taking his own life.
"I would encourage the parents of that school today to say, 'How was school? Did you hear about anything happening in school today?' Feel that out," Goldsmith said.
The doctor had a message for parents of children who went to school with the six-year-old victim.
"First, finding out if the kids know what they've heard, clarifying, yes, being honest. Yes, we heard and we saw in the news that that happened and this is really tragic and mom and dad are feeling terribly, terribly sad that such a thing would happen," he explained.
Goldsmith says many adults and parents may be overwhelmed by the incident, but that they need to be careful to not overwhelm children who may be impacted as well.
"I would have the parents of the older children say, 'Yes, we heard, that's true and we don't know why and that really, really rarely, rarely happens, but his daddy must have really been so sad and it's too bad that he didn't reach out for help," the doctor added.
Police say the family is asking for privacy following the incident.
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https://www.fox13now.com/news/local-news/following-slc-murder-suicide-parents-wonder-how-to-help-children-deal-with-incident
| 2024-05-20T22:51:18
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en
| 0.993995
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MIDVALE, Utah — As Sissy Garcia flips through pages of X-rays and clutches onto a necklace holding bullets, reminded of what happened nearly one year ago in Salt Lake City.
"It's sad because everything's gone," she said. "My life, my marriage, my dog."
Last July, Garcia was shot multiple times by her now ex-husband, Christopher Garcia, who pleaded guilty to attempted murder earlier this year; but almost 12 months later, Sissy is still reliving the trauma from that night.
"[Christopher] shot me three times and paused, and shot me again two times and stopped and then the last time it went in my mouth," Garcia described.
Sissy thought she was going to die, but in the moment she says she didn't have time to be scared, only focusing on surviving.
"I was counting those bullets just like he was," she explained. "I knew there were six in there and I was just thanking God I was still alive."
Talking one year later, tears do fill Garcia's eyes, not because she's remembering the violence she endured, but the memory of Mikita, the dog who always tried to protect her.
"She loved me, she didn't hurt me. If [Christopher] got too close to me, she would intervene," she said.
Sissy's recovery has been a long one, having to relearn to do basic things with her body. She was barely able to care for herself, let alone giving Makita the care and attention she needed.
Because of the situation, Garcia was forced to bring Makita to the Humane Society in August.
"I would have never gave her up, but I couldn't even take care of myself at that point," Sissy explained.
For the last few weeks, Garcia had hoped to find Makita and her new owners, but on Monday she received even more heartbreak, learning the dog had been euthanized.
"My niece she told me, 'You're going to see her again,' and I told her I feel like I will one day," Garcia said.
Despite the pain of everything she's been through, Garcia believes she's here for a reason.
"I have a purpose here in life," she said, "and that's just not going to hold me down or stop me."
Domestic violence victim resources (free, 24/7, confidential):
- Utah Domestic Violence Coalition:
- Hotline: 1-800-897-LINK (5465)
- Online help: udvc.org
- National Domestic Violence Hotline:
- 1-800-799-SAFE (7233)
- Online live chat: thehotline.org
- If you or someone else is in immediate danger, or in an emergency, call 9-1-1 immediately.
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https://www.fox13now.com/news/local-news/shot-by-ex-husband-midvale-woman-survives-for-purpose-here-in-life
| 2024-05-20T22:51:24
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en
| 0.987045
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SOUTH JORDAN, Utah — Trades like those for mechanics, welders and more are seeing a nationwide shortage, but thanks to a program at Bingham High School in South Jordan, students are getting real-life experience as they learning about options they may have never known about.
Travis Lucero teaches collision repair at the school's shop where he’s worked for the past two decades. The class offers an alternative path for many students to hone in on their trade and technical skills.
"It’s just a way to get their hands dirty and not all about the books, but more tactile experienced-based," Lucero explained.
The class is bringing the school back to its roots as the community was founded by farmers and miners, including Lucero's own grandfather.
"It’s built into who we are, and so it’s just kind of fun." he said.
Students not only fix up old hot rods, but they also use their welding and specialized skills for art projects on display in school hallways.
"It’s such a sense of accomplishment to be able to create beautiful things that nobody thought you’d be able to do," said student Mckaylee Stitcher.
Known as "Stitch" in the shop, Stitcher says the program has helped get her through high school.
"My dad’s a mechanic, and so I just tinker on cars, too, and then welding caught my eye and I was like, let’s see if I like it, and I fell in love with it," she explained.
Students have poured hours into the refurbishing of vehicles like a 1950 Chevrolet truck that Lucero brought into the shop ten years ago.
"When we got this it was actually a big rust bucket," Stitcher said. "We have done everything to it. It’s sitting on a custom suspension, it’s custom engine, we did all of the interior, the metal work, the body, the painting."
The work put in by the students puts them in the driver's seat when it comes to what’s next in their careers.
"It opens up so many doors for anybody who has ever gone through this program," said Sticher.
Stitcher is not sure of her next step, but Lucero claims with the real-life experience she's getting, the world is wide open for her with so many industries offering good paying jobs to people with the skills she already has.
Joshua Yates says auto mechanics is something that really clicked for him thanks to always working with his dad on projects at home and his involvement here at Bingham.
"There’s a ton of things that I’ve learned with engines that I would have no idea what to do," Yates claimed. "Just kind of do things that I’ve never had the chance to do. It’s just nice that I’ve been able to have the chance to do those things."
Yates is the state winner of what’s called the Skills USA contest that tests students on their knowledge of mechanics and empowering the next generation of skilled technicians. He will now represent Utah at nationals next month in Atlanta.
Josh is also encouraging other students to look into similar programs their high schools offer and get involved.
"I think anybody should just go and try some sort of mechanics class like this," he said, "or just some sort of extra class that you may not think you’d like but you never know, you may end up being really good at it."
The school is set to host the 28th Annual Bingham High Car Show on Friday from 10 a.m. until 1 p.m. Up to 75 cars, many fixed up by students at the school, will be there, along with food and music. The public is invited to attend to help celebrate the accomplishments of thee hardworking students.
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https://www.fox13now.com/news/local-news/students-learn-valuable-trade-skills-inside-bingham-high-school-shop
| 2024-05-20T22:51:30
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en
| 0.98438
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