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KARLSHAMN, Sweden , April 21, 2022 /PRNewswire/ -- AAK's Annual Report for 2021 has been published and is available in English and Swedish at the AAK website, www.aak.com, and at the company's headquarters.
For more information, please contact:
Gabriella Grotte
Head of IR and Corporate Communications
Mobile: +46 737 16 80 01
E-mail: gabriella.grotte@aak.com
This is information that AAK AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication at 10:00 a.m. CET on April 21, 2022.
About AAK
Everything AAK does is about Making Better Happen™. We specialize in plant-based oils that are the value-adding ingredients in many of the products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK's offer is Customer Co-Development, combining our desire to understand what better means for each customer, with the unique flexibility of our production assets, and a deep knowledge of many products and industries, including Chocolate & Confectionery, Bakery, Dairy, Plant-based Foods, Special Nutrition, Foodservice and Personal Care. Our 4,000 employees support our close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centers, and with the support of more than 20 production facilities. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has been Making Better Happen for more than 150 years.
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| 2022-04-21T09:30:20Z
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Aquaculture supplier coordinates business-critical processes to strengthen digitalisation and the power of innovation
OSLO, Norway, April 21, 2022 /PRNewswire/ -- Infor, the industry cloud company, announce today that AKVA Group ASA (Oslo Børs: AKVA), a worldwide supplier of advanced solutions and services to the aquaculture industry, has chosen Infor CloudSuite Industrial Enterprise to help improve collaboration and workflow internally, while helping to strengthen the delivery capability of solutions and services for customers in both land-based and sea-based fish farming. AKVA Group will use this manufacturing ERP and digital operations platform to connect their engineering processes, deliver enhanced customer configuration and quoting, and optimise operations through supply chain, production, and delivery.
Learn more about Infor CloudSuite Industrial Enterprise:
https://www.infor.com/products/cloudsuite-industrial-enterprise
"In recent years, AKVA Group has acquired several companies that have helped to strengthen the company's position in the market. At the same time, this has meant we have multiple enterprise resource planning (ERP) systems in the group, which makes business-critical processes less efficient. Therefore, we have carried out a thorough review process with several ERP suppliers, where Infor presented the best solution proposal with a platform for digitization, which also covers our needs and requirements for security and stability," says Ronny Meinkøhn, CFO of AKVA Group.
"We are pleased that AKVA Group has chosen Infor's industry-specific ERP solution. The decision confirms that Infor offers the market's most modern multitenant cloud ERP solution with functionality relevant to AKVA's industry needs," says Erlend Skaar-Olsen, Infor country manager for Norway.
Standard cloud solution meets the needs
AKVA Group leaders see it as an advantage to choose a standardized cloud solution with a rich platform for further digitization which covers not only traditional manufacturing ERP but extends into deep, end to end capability putting the customer at the centre. It provides flexibility to use industry-specific functionality to meet today's requirements while providing security to be able to grow with the solution and activate additional functionality when new needs arise in the future.
"The result of our preliminary project showed that more than 90% of AKVA Group's business processes are covered as standard in Infor's CloudSuite Industrial Enterprise solution. The rest is solved with the use of the built-in integration engine and tools to enrich the solution, whilst not hindering future upgrades. This means a more efficient implementation and lower risk when most of the solution can largely be adopted out of the box," says Skaar-Olsen.
Important part of the digitalisation journey
AKVA Group is present in all aquaculture markets, with offices in Norway, Chile, Denmark, Scotland, Spain, Greece, Lithuania, Canada, Australia, China, and Turkey, and delivers everything from individual components to services and complete solutions.
"The transition to a common cloud-based ERP platform is a business-critical part of our digitalisation journey, where we have clear expectations that this will both help improve interaction and information flow internally, and also to improve delivery capability and precision to our customers," Meinkøhn points out.
The solution is expected to be launched by the first quarter of 2023 and include 1,500 users. The 10-year SaaS agreement is valued at NOK 100 million.
About AKVA Group
AKVA Group has been a leading provider of solutions and services to the global aquaculture industry for more than 40 years. AKVA Group offers everything from simple components to complete installations and services for both sea-based and land-based fish farming. The Norwegian company is listed on the stock exchange, has approximately 1,500 employees and is established in 11 countries. To learn more, please visit www.akvagroup.com.
About Infor
Infor is a global leader in business cloud software specialized by industry. We develop complete solutions for our focus industries, including industrial manufacturing, distribution, healthcare, food & beverage, automotive, aerospace & defense, and high tech. Infor's mission-critical enterprise applications and services are designed to deliver sustainable operational advantages with security and faster time to value. We are obsessed with delivering successful business outcomes for customers. Over 60,000+ organizations in more than 179 countries rely on Infor's 17,500 employees to help achieve their business goals. As a Koch company, our financial strength, ownership structure, and long-term view empower us to foster enduring, mutually beneficial relationships with our customers. Visit www.infor.com.
Media contact
Erlend Skaar-Olsen
Infor
Mob: +47 930 39 800
Epost: erlend.skaar-olsen@inform.com
Copyright ©2022 Infor. All rights reserved. The word and design marks set forth herein are trademarks and/or registered trademarks of Infor and/or related affiliates and subsidiaries. All other trademarks listed herein are the property of their respective owners. www.infor.com
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| 2022-04-21T09:30:21Z
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The new feature protects businesses from unauthorized data transfers and from malware entering the network via external device
PRAGUE, April 21, 2022 /PRNewswire/ -- Avast (LSE:AVST), a global leader in digital security and privacy, today introduced USB Protection, a new feature available in the Avast Business Hub, and Avast Business Premium and Avast Ultimate Business Security products. USB Protection safeguards company data by preventing employees from using unauthorized removable storage devices, including flash drives, external drives, smartphones, and more. The new feature helps block, control, and monitor USB ports to stop data theft, data loss, and malware infections.
Giving businesses full control of their data
"With Work-from-Anywhere becoming the norm in today's digital world, accessing sensitive business data is constantly required from outside the corporate network. And the more this data is being accessed by busy employees, the greater the potential for data loss or damage, especially when removable media and devices are commonly utilized," says Filip Hlinka, VP of Product Avast Business. "Additionally, removable storage devices such as USB drives, and external hard drives make companies vulnerable to malware infection. They are easily transportable and small in size, and can house infected files as well as tremendous amounts of sensitive information - the perfect recipe for disaster in the event they wind up in the wrong hands."
USB Protection provides businesses the ability to control the transfer of data from desktops and laptops, even when users are not connected to the corporate network. With USB Protection, users must get permission to use a USB device, where an administrator can manually allow or deny access and customize settings to meet their requirements, thereby reducing the risk of potentially serious threats.
Keeping tabs on external connected devices
Avast's USB Protection also provides visibility into who is using what devices on which endpoints. All external storage devices that are connected to computers in numerous locations can be effectively monitored through detailed reports, which can be accessed from the Avast Business Hub online management platform. The USB Protection report provides insights into user patterns as they are working from anywhere, so that policies can be further modified to meet their requirements.
USB Protection is now available in the Avast Business Hub for Avast Premium and Ultimate Business Security customers.
About Avast:
Avast (LSE:AVST), a FTSE 100 company, is a global leader in digital security and privacy, headquartered in Prague, Czech Republic. With over 435 million users online, Avast offers products under the Avast and AVG brands that protect people from threats on the internet and the evolving IoT threat landscape. The company's threat detection network is among the most advanced in the world, using machine learning and artificial intelligence technologies to detect and stop threats in real time. Avast digital security products for Mobile, PC or Mac are top-ranked and certified by VB100, AV-Comparatives, AV-Test, SE Labs and others. Avast is a member of Coalition Against Stalkerware, No More Ransom, and the Internet Watch Foundation. Visit: www.avast.com.
Keep in touch with Avast:
- For security and privacy insights, visit the Avast blog: https://blog.avast.com/
- For in-depth technical analysis of threats, visit the Avast Decoded blog: https://decoded.avast.io/
- For handy guides, advice and tips, visit Avast Academy: https://www.avast.com/c-academy
- For more information about Avast visit: https://www.avast.com/about and https://www.avast.com/company-faqs
- Follow us on Twitter: @Avast
- Join our LinkedIn community: https://www.linkedin.com/company/avast
- Visit our Facebook group: www.facebook.com/avast
Media Contact:
pr@avast.com
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| 2022-04-21T09:30:28Z
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SAN FRANCISCO, April 21, 2022 /PRNewswire/ -- BellaDati Japan CEO Kazuto Saito is pleased to announce that Belladati and INFORMATION SERVICES INTERNATIONAL-DENTSU, LTD.("ISID") has signed the OEM contract for BellaDati IoT and advanced analytics Framework. ISID uses Belladati advanced analytics framework as the core system to develop accounting and business management solutions Ci*X series. Belladati is the producer of BellaDati IoT and advanced analytics Framework. Belladati Japan CEO Kazuto Saito says: "BellaDati reinvents the way how quickly enterprises can build their IoT products or embed advanced analytics. BellaDati IoT Framework provides 80% of features out-of-the box and eliminates risk, time and cost associated with process to build new solutions. It's possible thanks to the pre-integrated suite of IoT Controller, Advanced Analytics, Data-warehouse, Machine Learning Studio, Video Analytics, IDE features, SDK and APIs. All that is available to be provided as PaaS (platform as a service) in the cloud or on-premises. All that works as out-of-the box solution or architects can design their own products or embed required modules into their products with minimal effort. We aspire to serve society with superior quality and offer best to our customers in terms of products, services and technology. We are proud that we could help ISID to launch their product for big and mid-size corporate customers in the record time."
Contact:
Belladati
Diane Hoger
+65 3163 9337
diane.hoger@belladati.com
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| 2022-04-21T09:30:36Z
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BEIJING, April 21, 2022 /PRNewswire/ -- How can we build a better post-pandemic world? What can we do to boost the steady recovery and sustainable development of the global economy? And how can we seek win-win cooperation?
With the three critical questions atop the agenda, this year's Boao Forum for Asia (BFA) Annual Conference held in the town of Boao, south China's Hainan Province, has drawn worldwide attention.
The Global Security Initiative to promote security for all in the world proposed by Chinese President Xi Jinping at the forum on Thursday has given an Asian perspective on addressing the challenges of the times.
'Sophisticated, integrated apparatus'
Security is a precondition for development, and humanity is living in an "indivisible security community," Xi said in a video speech.
"In this day and age, the international community has evolved so much that it has become a sophisticated and integrated apparatus," he said, adding that acts to remove any single part will cause serious problems to its operation.
Calling on all countries to join hands, he further highlighted the need for cooperation in fighting against the COVID-19 pandemic, promoting economic recovery, maintaining world peace and addressing global governance challenges.
"It is particularly important for major countries to lead by example in honoring equality, cooperation, good faith and the rule of law, and act in a way befitting their status," he said.
This is Xi's sixth time delivering a keynote speech at the forum, and cooperation and peace are frequently among the key pillars he mentions when expounding on China's propositions to the world.
'Make Asia an anchor'
Measured by purchasing power parity, Asia's share in the world economy in 2021 rose by 0.2 percentage points from 2020 to 47.4 percent, according to the Asian Economic Outlook and Integration Progress Annual Report 2022.
The report also noted that a number of factors are essential for assessing the economic performance in 2022, including the development of COVID-19, geopolitical tensions after the Russia-Ukraine conflict, monetary policy adjustment in the U.S. and Europe, debt problems in some economies, global supply and political regime changes in some Asian countries.
Against such a background, Xi's proposition at the forum makes more sense — making Asia an anchor for world peace, a powerhouse for global growth and a new pacesetter for international cooperation.
"When Asia fares well, the whole world benefits," he said.
Calling for efforts to foster a more open Asia-wide market, he stressed seizing opportunities, such as the entry into force of the Regional Comprehensive Economic Partnership and the opening to traffic of the China-Laos railway.
The president also highlighted China's role during the process, saying that the fundamentals of the Chinese economy — its strong resilience, enormous potential, vast room for maneuver and long-term sustainability — remain unchanged.
https://news.cgtn.com/news/2022-04-21/Xi-Jinping-Boao-2022-When-Asia-fares-well-the-whole-world-benefits--19pin75Hwnm/index.html
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| 2022-04-21T09:30:45Z
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DENVER, April 21, 2022 /PRNewswire/ -- DaVita Inc. (NYSE: DVA), announced today that it will hold its quarterly conference call to discuss first quarter results on Thursday, May 5, 2022, at 5 p.m. Eastern Time. The company plans to release its results after market close the same day.
This call is also being webcast and can be accessed at the DaVita IR web page. You can join this call as follows:
Thursday, May 5, 2022
Starting at 5 p.m. EDT
Dial in number: 877-918-6630
International dial in: 517-308-9042
Webcast: investors.davita.com
When calling in, please provide the operator the password "Earnings" and provide your name and company affiliation. Investors unable to listen to the conference call will be able to access a replay via our website at investors.davita.com. There will be no telephone replay.
About DaVita Inc.
DaVita (NYSE: DVA) is a health care provider focused on transforming care delivery to improve quality of life for patients globally. The company is one of the largest providers of kidney care services in the U.S. and has been a leader in clinical quality and innovation for more than 20 years. DaVita cares for patients at every stage and setting along their kidney health journey—from slowing the progression of kidney disease to helping to support transplantation, from acute hospital care to dialysis at home. As of December 31, 2021, DaVita served 203,000 patients at 2,815 outpatient dialysis centers in the United States. The company also operated 339 outpatient dialysis centers in ten countries worldwide. DaVita has reduced hospitalizations, improved mortality, and worked collaboratively to propel the kidney care industry to adopt an equitable and high-quality standard of care for all patients, everywhere. To learn more, visit DaVita.com/About.
Contact Information
Investors:
IR@davita.com
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| 2022-04-21T09:30:51Z
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BEIJING, April 21, 2022 /PRNewswire/ -- The first swap for LPG priced against the Argus Ningbo Index, covering propane delivered at the eastern Chinese port of Ningbo, was traded on 20 April.
Swaps are a risk management tool enabling buyers and sellers to lock in a profit margin and protect themselves against unfavourable price movements. Argus Ningbo Index swaps were launched by US based Intercontinental Exchange (ICE) on 28 March.
Argus launched physical price assessments for propane and butane delivered to Ningbo in January 2021 at the request of industry participants. China is the world's largest consumer of LPG, accounting for more than a fifth of global seaborne trade. Demand for LPG has been fuelled by the construction of more than 20 propane dehydrogenation (PDH) petrochemical plants in China, which use LPG as a feedstock.
Companies operating in China had requested that Argus develop a new price to represent LPG delivered to China specifically, as an alternative to them using a more regional benchmark that reflected market conditions in more than one country. They also called for the development of a related swap so that they could hedge their exposure.
"We are delighted the Argus CFR Ningbo-settled contract, launched only last month on ICE, has already begun to trade," Argus Media chairman and chief executive Adrian Binks said. "The Chinese LPG market is huge and rapidly growing, and it is appropriate that it should have its own physical pricing and hedging tools that reflect domestic conditions."
The swap traded for 1,000 tonnes at $840/t for June, between a Chinese importer and a bank.
Argus contact information
London: Seana Lanigan
+44 20 7780 4200
Email Seana
Houston: Matt Oatway
+1 713 968 0000
Email Matt
Singapore: Tomoko Hashimoto
+65 6496 9960
Email Tomoko
About Argus Media
Argus is an independent media organisation with more than 1,100 staff. It is headquartered in London and has 26 offices in the world's principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets and offers bespoke consulting services and industry-leading conferences.
Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.
Argus was founded in 1970 and is a privately held UK-registered company. It is owned by employee shareholders, global growth equity firm General Atlantic and Hg, the specialist software and technology services investor.
Trademark notices
ARGUS, the ARGUS logo, ARGUS MEDIA, ARGUS DIRECT, ARGUS OPEN MARKETS, AOM, FMB, DEWITT, JIM JORDAN & ASSOCIATES, JJ&A, FUNDALYTICS, METAL-PAGES, METALPRICES.COM, INTEGER, Argus publication titles and Argus index names are trademarks of Argus Media Limited.
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| 2022-04-21T09:30:59Z
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Market drivers include concerns around CO2 emissions, the safe movement of passengers and cargo, and increasing demand for trucking amid shortage of drivers
BOULDER, Colo., April 21, 2022 /PRNewswire/ -- A new report from Guidehouse Insights discusses how Internet of Things (IoT) technology is being deployed in the transportation sector, focusing on passenger travel and logistics.
IoT technology in transportation is relatively well-established, though different sectors are at different stages of penetration and use cases vary. One consistent theme is the use of IoT sensors and analytics to improve processes involved in moving passengers and cargo. Governments and transportation operators want to increase cost efficiency, offer a differentiated user experience, and generate new revenue streams through IoT in transportation. According to a new report from Guidehouse Insights, global spending for IoT on transportation is expected to grow at a compound annual growth rate (CAGR) of 14.6% through 2031.
"As customer-facing settings are well-prepared for IoT deployments, thanks to existing Wi-Fi network deployments in airports and train stations, non-customer-facing settings such as an airport's airside operations will present an important opportunity for growth," says Francesco Radicati, senior research analyst with Guidehouse Insights. "However, the most important constraint to growth will be ensuring that any new deployments adhere to safety protocols, particularly in passenger settings."
Among the factors driving the deployment of IoT technology in the transportation industry are concerns around CO2 emissions and the environment, the safe movement of passengers and cargo, and an increasing demand for trucking amid a shortage of drivers. While the early phases of the COVID-19 pandemic led to a decrease in transportation-related emissions, the travel and logistics industries are expecting demand to return to pre-pandemic levels. However, they will have to address that demand with fewer resources after two years of cost-cutting to remain afloat.
The report, IoT in Transportation Overview, discusses how IoT technology is being deployed in the transportation sector, focusing on passenger travel (primarily aviation and rail) and logistics (primarily trucking and ports). This report describes IoT use cases in airports, rail stations, shipping ports, and trucks and provides information on key players targeting transportation. It also provides forecasts for the expected investment in each sector by global region through 2031. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 13,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, IoT in Transportation Overview, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Jennifer Peacock
+1.404.575.3859
jpeacock@guidehouse.com
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https://www.whsv.com/prnewswire/2022/04/21/guidehouse-insights-expects-global-spending-iot-transportation-grow-compound-annual-growth-rate-nearly-15-through-2031/
| 2022-04-21T09:31:06Z
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LUND, Sweden, April 21, 2022 /PRNewswire/ -- Immunovia will publish its first quarter 2022 results on April 28, 2022 at 8:00 am CET. Analysts, investors and media are invited to a webcast teleconference on the same day at 13:00 pm CET. The report together with the presentation slides will be available at www.immunovia.com
Philipp Mathieu, Acting CEO and President, and Karin Almqvist Liwendahl, CFO, will present on Immunovia's development. The presentation will be held in English and be followed by a Q&A session. You are welcome to join via webcast or phone, see details below.
Telephone numbers and webcast
Ring any of the numbers below to participate via telephone. Please dial in a few minutes before the presentation starts.
Sweden: +46 8 5051 0031
United Kingdom: +44 207 107 06 13
United States: +1 631 570 56 13
Link to the webcast: https://creo-live.creomediamanager.com/c062bfe9-6671-4cee-a51a-3ed5d85ca715
To ask questions, it is necessary to dial in. A recording of the presentation will be available on Immunovia's website.
For more information, please contact:
Tobias Bülow
Senior Director Investor Relations and Corporate Communications
tobias.bulow@immunovia.com
+46 736 36 35 74
The information was submitted for publication on April 21, 2022, at 10:30 am CET.
About Immunovia
Immunovia AB is a diagnostic company with the vision to revolutionize blood-based diagnostics and increase survival rates for patients with cancer.
Our first product, IMMray™ PanCan-d is the only blood test currently available specifically for the early detection of pancreatic cancer. The test has unmatched clinical performance. Commercialization of IMMray™ PanCan-d started in August 2021 in the USA and IMMray™ PanCan-d is offered as a laboratory developed test (LDT) exclusively through Immunovia, Inc. For more information see: www.immunoviainc.com.
Immunovia collaborates and engages with healthcare providers, leading experts and patient advocacy groups globally to make this test available to all high-risk pancreatic cancer groups.
The USA, the first market in which IMMray™ PanCan-d is commercially available, is the world's largest market for the detection of pancreatic cancer with an estimated value of more than USD 4 billion annually.
Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm. For more information, please visit www.immunovia.com.
This information was brought to you by Cision http://news.cision.com
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| 2022-04-21T09:31:12Z
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A comprehensive platform for building gateway experiences to the Metaverse
BUDAPEST, Hungary, April 21, 2022 /PRNewswire/ -- Limitless, the team behind the newest Metaverse unicorn Next Earth, announced the launch of a new cutting-edge Metaverse integrator services for brands and businesses. Building on the provenly successful frameworks from their pioneering projects, including the land ownership mega-hit Next Earth, Limitless provides a simple and intuitive process to become the go-to full-stack solution for established brands and startups across all industries when it comes to launching in the Metaverse.
As the market's most comprehensive package for Metaverse accessibility, Limitless focuses on enterprises and VC-backed startups looking to develop products and services in the Metaverse. Its one stop shop offering is paving the way for organizations in entertainment, education, social media, fashion, real estate, and more to create Web3-ready gateway experiences quickly and seamlessly. In addition to the technology components, the company also helps drive user success with legal, financial, and marketing advisory and consulting services.
"The Metaverse is undeniably the future of business. It will be vital for companies to establish virtual presences in order to compete. With the launch of Limitless, we are offering the first generation of profitable services within a new era, a hallmark of the new internet." said David Taylor and Mike Vitéz, co-founders, and co-CEOs of Limitless. "Our goal is to drive long-term benefits from this emerging ecosystem, while helping brands smartly and efficiently create viable, productive, self-sustainable metaverse strategies."
Limitless is not only launching their service suite but also announced the launch of Limitless Capital, a $260m Metaverse fund to help startups launch, build and scale new businesses within the Metaverse.
Statista estimates that the global metaverse market will reach $47.48 billion U.S. dollars in 2022 before surging to $678.8 billion USD by 2030. The metaverse is an emerging paradigm for connecting the physical and digital worlds. Staying competitive now means having a metaverse strategy. Limitless is coming to market as an invaluable tool for businesses of every size and sector. Regardless of budget, resources, or coding skills, Limitless lays a foundation for a truly equitable and sustainable Metaverse ecosystem.
The end-to-end service is designed for startups looking to establish their presence in the metaverse and corporations searching for new ways of reaching their customers. Visit limitlessholding.com
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| 2022-04-21T09:31:19Z
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Attackers Used Fake Microsoft Branding and Company Research to Pose as Employees in Targeted Phishing Campaign
CAMBRIDGE, England, April 21, 2022 /PRNewswire/ -- Darktrace, a global leader in cyber security AI, today announced that its AI-powered email security solution, Antigena Email, recently uncovered a targeted phishing attack at a North American private equity firm which specializes in the food and beverage sector.
The company, which manages over 150 restaurants across the US, was trialling Darktrace's Self-Learning AI when the attack took place. Intending to bolster email security, the company had deployed Darktrace's email security solution, Antigena Email, which had learned the 'normal' email communications of every user within the organization in order to detect the abnormalities associated with an email threat.
The attack, which slipped past the company's existing security controls, started when an employee received an email appearing to originate from internal 'HR'. The email had been carefully designed to look like a SharePoint Microsoft document and was titled 'Q3 Commission 2021 and Agenda', an attempt to induce the recipient into clicking on a malicious link.
Detecting that the IP address of the email was unusual, Darktrace AI identified this as spoofing activity and further investigation suggested it was part of a wider trend of targeted phishing campaigns at the time which used fake Microsoft branding. These attacks are often launched with the intention of causing operational disruption or conducting IP and financial theft.
The company's security team were alerted and issued company-wide warnings about the attack, averting a crisis. Had Antigena Email been deployed in fully autonomous mode, it would have double-locked the malicious links to ensure they were not clickable.
"Email impersonation attacks have been on the rise for a number of years – these are hyper-realistic 'digital fakes' that expertly mimic the writing style of trusted contacts, colleagues, and suppliers," commented Mike Beck, Darktrace's Global CISO. "We simply cannot put the onus on humans to spot these well-researched, targeted email attacks and that's why it is crucial that organizations have AI in place as a first line of defense – capable of detecting the subtle signs of a fake and intervening before a user even has to engage with the email. This is the future of email security."
About Darktrace
Darktrace (DARK:L), a global leader in cyber security AI, delivers world-class technology that protects over 6,800 customers worldwide from advanced threats, including ransomware and cloud and SaaS attacks. Darktrace's fundamentally different approach applies Self-Learning AI to enable machines to understand the business in order to autonomously defend it. Headquartered in Cambridge, UK, the Group has more than 2,000 employees worldwide. Darktrace was named one of TIME magazine's 'Most Influential Companies' for 2021.
Media Contacts
Tom Bermingham
Brands2Life (UK)
+44 (0) 7983 857952
darktrace@brands2life.com
Jessica Cheney
CommStrat (US)
+1 419 350 4614
darktrace@commstrat.com
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https://www.whsv.com/prnewswire/2022/04/21/north-american-private-equity-firm-stops-hr-spoofing-cyber-attack-with-darktrace-ai/
| 2022-04-21T09:31:28Z
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STOCKHOLM, April 21, 2022 /PRNewswire/ -- Oncopeptides AB (publ) (Nasdaq: ONCO) (Stockholm: ONCO), a biotech company focused on research and development of therapies for difficult-to-treat hematological diseases, today announces that the 2021 Annual Report has been published.
The Annual Report summarizes an extraordinary eventful year, including significant regulatory hurdles. The year started with a major milestone, the accelerated approval of Pepaxto® (INN melphalan flufenamide) in the US. This was followed by an application to the European Medicines Agency, EMA, for marketing authorization in Europe, and the read out of the phase 3 OCEAN study, a head-to-head comparison between melflufen and pomalidomide in lenalidomide refractory multiple myeloma patients with 2-4 prior lines of therapy. The OCEAN study met the primary endpoint and showed superior progression free survival with a Hazard Ratio of 0.79, however the overall survival Hazard ratio of 1.10 was favoring pomalidomide. This led the FDA to request a partial clinical hold and issue a safety alert, which resulted in a voluntary withdrawal of Pepaxto in the US, and a substantial downsizing of Oncopeptides´ operations. In the beginning of 2022, the Company rescinded the withdrawal based on further analyses of the survival data and has ongoing discussions with the FDA on how to interpret the data.
"2021 has by far been the most revolutionary year in our Company´s history," says Jakob Lindberg, CEO, Oncopeptides. "We have refocused the company, restructured the organization and increased cash runway. These measures led to a cash position of SEK 362 M by year-end 2021. If the re-structuring continues according to plan, we will have the necessary liquidity to fully support the EMA-filing in Europe and continue our operations for at least the next 12 months."
The 2021 Annual Report is available in a pdf document: www.oncopeptides.com.
For further information, please contact:
Rolf Gulliksen, Global Head of Corporate Communications, Oncopeptides AB (publ)
E-post: rolf.gulliksen@oncopeptides.com
Mobile: + 46 70 262 96 28
The information in the press release is information that Oncopeptides is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons above, on April 21, 2022, at 10.00 (CET).
About Oncopeptides
Oncopeptides is a biotech company focused on research and development of therapies for difficult-to-treat hematological diseases. The company uses its proprietary PDC platform to develop peptide-drug conjugated compounds that rapidly and selectively deliver cytotoxic agents into cancer cells. The first drug coming from the PDC platform, Pepaxto® (INN melphalan flufenamide), also referred to as melflufen was granted accelerated approval in the U.S., on February 26, 2021, in combination with dexamethasone, for treatment of adult patients with relapsed or refractory multiple myeloma. The Company voluntarily withdraw the drug on October 22, 2021 and then rescinded the withdrawal on January 21, 2022. The product is currently not marketed in the US. Oncopeptides is developing several new compounds based on the PDC platform. The company is listed in the Mid Cap segment on Nasdaq Stockholm with the ticker ONCO.
More information is available on www.oncopeptides.com.
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https://www.whsv.com/prnewswire/2022/04/21/oncopeptides-publishes-2021-annual-report/
| 2022-04-21T09:31:34Z
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- TerraZero successfully establishes itself as a leading metaverse world agnostic technology company working in (and for) various Metaverse Worlds.
- The Company focuses on three main business areas: its development studio, its software platform division, and its data analytics unit.
- TerraZero is ideally positioned in a rapidly growing technology sector with a potential of 2.0 bil. users by 2026 and a market size of US$13 tril. by 2030.
VANCOUVER, BC, April 21, 2022 /PRNewswire/ - TerraZero Technologies Inc. ("TerraZero" or the "Company"), formed in early 2021, is a diversified, vertically integrated metaverse technology company with three distinct areas of focus: (i) the development studio, (ii) the technology division, such as Amadea and (iii) the data analytics platform to improve decision making for its customers. In addition, TerraZero owns significant amounts of virtual land assets in multiple metaverse worlds, and is one of the largest landowners in Decentraland (www.decentraland.org).
By 2026, more than 2.0 billion users will spend at least one hour a day in the metaverse for work, shopping, education, social and/or entertainment, according to Gartner, Inc. Amid the rapid metaverse growth and its significant economic potential, which is projected to be an US$8 trillion to US$13 trillion market by 2030 according to Citi (www.citi.com), TerraZero is ideally positioned with its three distinct areas of focus: the studio, the technology division, and the data analytics engine:
- The studio is a technology agnostic, professional services revenue generating business in hyper-growth mode, that works with brand clients to create their experiences and events within the various metaverse worlds by providing the 3D modeling, gamification and programming to enable functionality and e-commerce. Many of the Company's activations, like Miller Lite's Super Bowl 2022 event, and those during Metaverse Fashion Week, continue to gain significant consumer and media attention. TerraZero is currently working on activations for multiple leading international brands.
The studio is also building a major destination entertainment district which will include one of the world's largest multi-purpose arena e.g. with concert stadium functionalities with potential future capabilities to host millions of fans, interactivity and games, retail shopping stores, bars and nightclubs, and much more, with a specific goal to attract, entertain, and retain an increasingly large number of visitors.
TerraZero studio is also in advanced discussions with various new advertising clients who are highly interested in the company's billboard promotion capabilities in Decentraland. Recently, music label Atlantic Records (www.atlanticrecords.com) and its artist A Boogie Wit Da Hoodie (www.aboogiehbtl.com) engaged TerraZero for a marketing campaign with music streaming integration. - The technology platform division creates solutions that brands, businesses and individuals use to bridge the real world with the metaverse. For example, Amadea is the first of several tools in the product pipeline of the Company's software platform division.
Amadea is currently in beta testing and projected to be launched and deployed in Q2 2022, enabling brands, companies, and individuals to buy, sell, and rent multiple virtual worlds' land NFTs. An NFT rental marketplace to separate ownership and utility has great potential to enable large-scale adoption of blockchain games, guilds and projects. The company expects Amadea to become a flagship product that will help brands, businesses and individuals accelerate their projects. A roadmap of new functionalities and modules are scheduled to be rolled out over the next 24 months. - TerraZero's Data division is taking expansion through the capturing of new data feeds within the metaverse to provide TerraZero's brand clients better understanding of consumer behaviors and effectiveness of marketing campaigns. As the industry matures, TerraZero sees a tremendous opportunity to continue to expand its data division to provide a next generation data platform that will deliver new consumer insight and market intelligence that simply don't exist today. As TerraZero's Studio & Technology solutions take expansion through the continuous creation of new data feeds, TerraZero's data will become indispensable to its customers and industry.
Dan Reitzik, Blockchain-veteran and CEO of TerraZero, states: "We are tremendously excited about the progress of our studio, technology platform, and data analytics divisions. The studio continues working with Fortune 500 brands and companies, as they navigate their way into the metaverse. The launch of Amadea will be a significant milestone for TerraZero as it represents one of the first technology platforms to be released that truly bridges the real world with the metaverse. The data analytics products are already proving to be invaluable to our brand clients and will continue to become more and more intelligent as the metaverse matures."
Please see a few videos below for an example of TerraZero's current work:
Miller Lite Bar: https://youtu.be/xHBDrrrOHCU
Zipmex: https://youtu.be/a7Wr7a9beBI
Billboards: https://youtu.be/TumzyHkGNCc
TerraZero's DCL HQ: https://youtu.be/9jSS0JjLj5w
Interested corporations or individuals, which might wish to receive more information about TerraZero's divisions and services or which might be looking for an individual metaverse project proposal, should visit the Company's website www.terrazero.com or contact TerraZero's metaverse specialists at hello@terrazero.com.
TerraZero Technologies Inc. ("TerraZero") was founded by cryptocurrency and blockchain pioneer Dan Reitzik, founder and former CEO of DMG Blockchain Solutions Inc., one of North America's leading Bitcoin miners. TerraZero is a vertically integrated Metaverse development group and leading Web 3.0 technology company specializing in the Metaverse space. The Company's Metaverse agnostic vision is to develop, acquire, and finance the Metaverse's most promising companies, entrepreneurs, and developers, while creating solutions to further enhance the Metaverse usability for greater community engagement within the Metaverse, and to connect the real world to the Metaverse, for the creation of new economies and user experiences that will shape the future of Web 3.0. TerraZero also owns digital real estate and provides offices and services to those interested in the Metaverse. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the Metaverse ecosystem. The Company's businesses are segmented into five (5) divisions which include: (1) virtual real estate; (2) advertising; (3) data analytics; (4) events and marketing; and (5) infrastructure. TerraZero aims to support the community, foster innovation, and drive adoption. For more information, please visit www.terrazero.com or contact media@terrazero.com.
This news release includes certain statements and information that may constitute forward-looking information or statements. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends," "expects," or "anticipates," or variations of such words and phrases or statements that certain actions, events, or results "may," "could," "should," "would," or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements," are not historical facts and are made as of the date of this news release, which includes without limitation, statements regarding discussions of future plans, estimates, and forecasts and statements as to management's expectations and intentions with respect to, among other things: the Company's intention to develop and drive traffic to its assets and location within virtual worlds; that establishing an early presence within the Metaverse will provide the Company with new users, branding, and marketing opportunities; launching the Amadea platform and the expectations of the platform; developing products and services; growth outlook; events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, business, economic, and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to personnel, employees, and consultants; market conditions and the demand and pricing for products and services; the demand and pricing of cryptocurrencies and NFTs; security threats, including a loss/theft of TerraZero's NFTs, cryptocurrencies, and other assets; TerraZero's relationships with its customers and business partners; TerraZero's ability to successfully define, design, and release new products in a timely manner that meet customers' needs; the ability to attract, retain, and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. As a result, TerraZero may not actually achieve its plans, projections, or expectations. In addition, such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to develop software successfully, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals, and the price of cryptocurrencies and NFTs. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, technology failures, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of COVID-19 or other viruses and diseases on the Company's ability to operate and hire personnel, competition, security threats including stolen NFTs and cryptocurrencies from TerraZero or its customers, consumer sentiment towards TerraZero's products, services and Metaverse technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in labor costs, fluctuation in exchange rates, decrease in the price of cryptocurrencies and NFTs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market, or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties.
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| 2022-04-21T09:31:42Z
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- First clinical study with a digital therapy (DTx) in patients with IPF to address the psychological symptom burden in this disease
- First patient enrolled in US pilot phase leading up to the US pivotal phase of the study with expected start in H2 2022
- DTx aims to form a part of a differentiated offering in rare lung disease
GOTHENBURG, Sweden, April 21, 2022 /PRNewswire/ -- Vicore Pharma Holding AB (publ) ("Vicore"), a clinical-stage pharmaceutical company, today announces the first patient enrolled in the pilot phase of COMPANION1, a clinical study of a digital cognitive behavioral therapy for patients with IPF.
Patients with IPF have a life expectancy of three to five years, during which dyspnea, fatigue and cough gradually worsen and in a preceding study, it was shown that 63% of IPF patients report a moderate to severe level of anxiety2. Cognitive behavioral therapy (CBT) is a well-established method to help patients with the psychological burden caused by severe disease and a digital CBT has the advantage of being accessible around-the-clock and can be personalized to meet the patient's needs.
COMPANION is a fully digitalized, randomized, controlled parallel-group clinical study to evaluate the impact of the digital therapy Almee™ on the psychological symptom burden in adults diagnosed with IPF. The COMPANION study consists of two phases; a pilot study designed to refine the interactive nature of the therapy session, followed by a pivotal study. The study will take place in the US and is expected to conclude in H1 2023, after which Vicore will seek FDA clearance for Almee™ as a medical device and is expected to be made available to patients in 2024. Almee™ is developed in collaboration with Alex Therapeutics AB* and the COMPANION study is conducted using virtual clinical solutions developed by Curebase Inc*.
"We are very excited to have randomized our first patient in the pilot phase of the COMPANION study. This study will not only help to elucidate the effect of anxiety on IPF patients' quality of life, it will also explore the benefits of cutting edge digital treatment," says Professor Maureen Horton, principal investigator of COMPANION, Johns Hopkins University.
"Almee™ is an integral part of the Vicore development strategy for holistic and personalized treatment for rare lung disease and it addresses a clear unmet need in the IPF patient group. This decentralized clinical study also gives us an opportunity to rethink the traditional clinical trial model while keeping the patient in focus," says Jessica Shull, Director of Digital Therapeutics at Vicore.
For further information, please contact:
Carl-Johan Dalsgaard, CEO
Phone: +46 70 975 98 63
E-mail: carl-johan.dalsgaard@vicorepharma.com
About Digital Therapeutics (DTx)
DTx products are clinically evaluated software, designed, built, and tested to treat a disease or condition. DTx are medical devices and subject to medical device regulations in the country of use. DTx products can be a stand-alone software, or used in conjunction with another therapy. As interest in DTx from pharmaceutical companies and medical professionals has grown, authorities in Europe and elsewhere have developed new assessment frameworks, requiring that digital therapeutics are shown to be clinically safe and effective before regulatory approval.
About AlmeeTM, Vicore's digital therapeutic in IPF
AlmeeTM (an investigational medical device pending FDA clearance) is a digital therapeutic (DTx) based on cognitive behavioral therapy (CBT) to address the psychological impact of living with IPF. Vicore is collaborating with Alex Therapeutics for the development of this medical device product3. AlmeeTM will be evaluated through real-world pilots and clinical studies as well as secure regulatory approvals, according to national and international medical device development standards.
This information was submitted for publication on April 21, 2022 at 09:30 CET.
*For more information see Alex Therapeutics AB and Curebase Inc websites.
1. NCT05330312
2.Vicore data on file
3. https://vicorepharma.com/investors/press-releases/press/?releaseID=92C77E493C3A21FD
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| 2022-04-21T09:31:48Z
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LAGUNA HILLS, Calif. and SHANGHAI and BOCHUM, Germany, April 21, 2022 /PRNewswire/ -- Wallaby Medical ("Wallaby" or the "Company"), a global innovative medical technology company focused on developing and commercializing neurovascular interventional products for treating stroke, today announced that it has acquired phenox GmbH, including phenox's femtos GmbH ("femtos"), (together "phenox"), a German-based global innovation and technology leader in the neurovascular space, for a total consideration of approximately EUR 500 million including milestone payments. The acquisition is one of the largest cross-border transactions in the medical device industry globally in recent years and is driven by strong growth opportunities in both product portfolio and geographic coverage. It will enable the combined company to become a global leader in providing a wide range of neurovascular technologies and solutions to its customers and patients around the world, including in the U.S., China, Europe, Japan and other international markets.
The transaction has received all necessary regulatory approvals and has been completed. Michael Alper, CEO of Wallaby, will become CEO of the combined organization. Prof. Dr.-Ing. Hermann Monstadt, Founder of phenox, will assume the role of Managing Director of phenox. All current phenox product brands will be retained.
Wallaby, with its main offices in Laguna Hills, California and Shanghai, China achieves a significant portion of sales of its world-class and premier-quality products in the U.S. and other major developed markets. phenox, headquartered in Bochum, Germany, provides a broad portfolio of neurovascular devices to treat ischemic and hemorrhagic strokes that are sold in over 45 countries worldwide. The two companies have been strategic partners since 2019. phenox has been the exclusive distributor for Wallaby's Avenir® Coil System in the U.S. and European markets as well as for Wallaby's Esperance™ Aspiration Catheters in the U.S. market.
As part of the transaction, Wallaby also acquired femtos, which develops and manufactures next generation neurovascular devices for treating stroke, with special expertise in femto-second laser technology for the manufacturing of stents and other implantable devices. femtos serves as an incubator for next generation medical technologies and has already developed two CE approved products.
"The acquisition is a natural next step in the relationship of both companies and a transformational step in achieving our vision of saving the most lives affected by stroke", said Michael Alper. "The Wallaby-phenox combination will have deep roots in Europe and China, with a strong presence in the U.S., and a recent entrance into the Japan market. By combining the highly complementary product pipelines of the two companies, we will be able to offer a full spectrum of world-class interventional neurovascular products and solutions. The broadened product portfolio, enhanced R&D capability and expanded geographic coverage will provide Wallaby-phenox with an unparalleled competitive edge as we strive to become a global leader in the neurovascular market."
"I am very pleased to be joining Wallaby," said Hermann Monstadt. "Over the last 17 years we have built a company that is committed to delivering optimal solutions for our customers and patients. Through our past collaboration with Wallaby, I have come to deeply respect this organization and recognize our joint commitment to quality and innovation. This transaction will enable phenox's technology to be further developed with Wallaby's strong resources while also allowing phenox's products to reach new markets, and creating significant opportunities for the combined company."
Wallaby funded the acquisition of phenox from the proceeds of its Series D financing round supported by leading healthcare investors.
Media Contacts
Brunswick Group (U.S.)
Rachael Collins
wallaby@brunswickgroup.com
+1 (646) 464-4657
Brunswick Group (China)
Linjia Dai
wallaby@brunswickgroup.com
+86 15652702921
Brunswick Group (Germany)
Nina Jungcurt
wallaby@brunswickgroup.com
+49 1748812966
About Wallaby Medical
Wallaby Medical is a global innovative medical technology company focused on developing and commercializing neurovascular interventional products for treating stroke. Wallaby 's product portfolio includes the Avenir® Coil System, a technically differentiated neuro embolic coil system for treating intracranial aneurysms and other neurovascular abnormalities, the Esperance™ Aspiration Catheter, cleared in the U.S. and China for ischemic stroke treatment procedures, and the Esperance™ Distal Access Catheter, which was approved for delivery assistance in China. In addition, Wallaby has a full range of neurovascular products under development. Wallaby 's products are currently marketed in over 30 countries and regions. For more information, visit www.wallabymedical.com.
About phenox
Since its foundation in 2005, phenox has developed into a global innovation leader in neurovascular devices for the interventional treatment of strokes. The company has a broad product portfolio covering both ischemic and haemorrhagic stroke as well as Access & Support. The key product lines of phenox include the p64/p48 range of flow diverters for the treatment of intracranial aneurysms and the pRESET range of stent retrievers for the mechanical thrombectomy of ischemic strokes. Additionally, phenox has proprietary coating technologies for the enhancement of its permanent and short-term implants. The products of phenox are marketed in over 45 countries worldwide based on internationally leading clinical data. phenox has subsidiaries in Italy, the UK, Ireland and the U.S. For further information please visit https://phenox.net/international/
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| 2022-04-21T09:31:55Z
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Biden administration drug control plan stresses harm reduction, treatment
(AP) - President Joe Biden is sending his administration’s first national drug control strategy to Congress as the U.S. overdose death toll hit a new record of nearly 107,000 during the past 12 months.
The strategy, released Thursday, is the first national plan to prioritize what’s known as harm reduction, said White House drug czar Dr. Rahul Gupta. That means it focuses on preventing death and illness in drug users while trying to engage them in care and treatment.
The strategy calls for changes in state laws and policies to support the expansion of harm reduction.
“All too often, these drugs wind up in communities where naloxone isn’t readily available,” Gupta said Wednesday, referring to the medication that can revive users who have overdosed, “where harm reduction services are restricted or underfunded, where there are unacceptable barriers to treatment.”
The American Medical Association has advocated for naloxone to be made available over the counter. Test strips that prevent overdoses by checking drugs for fentanyl and clean syringe programs are other examples of harm reduction.
Harm reduction prevents overdoses, reduces the transmission of infectious diseases and “as declared in a recent congressional commission report, it has bipartisan support,” Gupta said.
The first physician to head the Office of National Drug Control Policy, Gupta will oversee the strategy, which also includes:
- Targeting the financial activities of transnational criminal organizations that manufacture and traffic illicit drugs in the United States.
- Reducing the supply of illicit drugs smuggled across U.S. borders.
- Improving data systems and research that guide drug policy.
- Making sure the people most in danger of overdose can get evidence-based treatments, including people experiencing homelessness and those in prison or jail.
“Everyone who wants treatment should be able to get it,” Gupta said.
___
The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wvva.com/2022/04/21/biden-administration-drug-control-plan-stresses-harm-reduction-treatment/
| 2022-04-21T10:37:12Z
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Feds: Thousands may have student debt that should be erased
(AP) - Record-keeping failures by the federal government may have left thousands of Americans saddled with student debt that should have been automatically canceled through a benefit for low-income borrowers, according to a new federal study.
In a scathing report released on Wednesday, the Government Accountability Office faulted the Education Department for sloppy oversight of its income-driven repayment program — a collection of plans that offer reduced monthly payments and carry a promise to erase all remaining debt after 20 or 25 years of payments.
The study, requested by Congress, identified 7,700 federal student loans that appear to meet the conditions for loan forgiveness but had yet to be canceled as of September 2020. The loans were held by 3,000 borrowers and amount to a combined $49 million.
It was released a day after the Education Department announced changes to fix what it called “historical failures” of the program. Those changes are expected to help some borrowers get their loans discharged more quickly.
Investigators said they couldn’t verify why the loans hadn’t been forgiven — gaps in the Education Department’s data made it impossible to know for sure. But they suggested it could be the result of poor record-keeping.
Before 2014, the report said, the department failed to make sure borrowers’ monthly payments were being tracked. That in turn has prevented the agency from tracking borrowers’ progress toward loan forgiveness, leaving some repaying loans longer than they should have.
So far, only 157 loans have been forgiven through income-driven plans, according to the study.
“The Department of Education has had trouble tracking borrowers’ payments and hasn’t done enough to ensure that all eligible borrowers receive the forgiveness to which they are entitled,” the GAO said. “We found thousands of borrowers still in repayment who could be eligible for forgiveness now.”
The report details a host of other shortcomings in the income-driven repayment program.
Education officials have failed to make the requirements clear to borrowers, including what types of payments count, the report said. When borrowers pause their payments through the forbearance process, for example, that time generally doesn’t count toward forgiveness. But that wasn’t clearly explained, the GAO found.
It also blamed the agency for failing to tell borrowers that they can request an update on their progress toward loan forgiveness.
Created in 1994, the income-driven repayment program was meant to provide a safety net for people who struggle to repay student loans. The program now offers five repayment options that provide reduced monthly payments based on income and family size. The balance is supposed to be automatically forgiven after 20 or 25 years, depending on the plan.
Among more than $1 trillion in student debt held by the federal government, about half is being repaid through those plans.
The number of loans eligible for forgiveness through the program is expected to balloon in coming years, according to the GAO. By 2030, the office estimates, up to 1.5 million loans held by 600,000 borrowers could meet the conditions for forgiveness.
In a response to the report, Education Department officials acknowledged the failures of the program and promised improvement. They also acknowledged the need to act quickly.
“We recognize that it is important to get payment counting correct now, as the number of loans that have been in repayment long enough to qualify for loan forgiveness will only grow over time,” wrote Richard Cordray, chief operating officer for Federal Student Aid, the office that oversees student loans.
He added that the program has “long been a source of confusion and frustration for many borrowers.”
Cordray agreed to a list of changes recommended by the GAO. He said his agency will identify and correct record-keeping errors, and will create a system to let borrowers check their progress toward loan forgiveness online, among other changes.
Under the department’s new action, borrowers in income-driven plans will get all of their past monthly payments counted toward loan forgiveness, even if they weren’t in an eligible repayment plan at the time. Borrowers who had long stretches in forbearance will also get that time counted toward forgiveness, even though it typically is excluded.
The department called it a one-time revision “to correct for data problems and past implementation inaccuracies.”
Borrower rights advocates applauded the changes but also called for broader improvements to the program, which has long been criticized for being overly complex. Democrats in Congress have urged the department to replace existing income-driven repayment plans with a single, more generous plan.
Among those calling for an overhaul is Rep. Bobby Scott, D-Va., who leads the House education committee and requested the GAO investigation. In a statement, he said the report “confirms serious problems with the management” of the program.
“I am pleased that the Biden-Harris Administration announced steps to fix the problem,” he said. “I continue to stand ready to work with the Department of Education to improve the Income-Driven Repayment program.”
The latest action is part of the Biden administration’s piecemeal attempt to reduce the burden of student debt. The Education Department has taken action to make it easier to get loan forgiveness through other programs, including one for public servants and another for students who are defrauded by their colleges.
This month the administration also suspended student loan payments through August, extending a freeze that has allowed millions of Americans to postpone their payments during the pandemic.
But President Joe Biden also faces mounting pressure to enact sweeping student debt forgiveness for all borrowers, which was one of his campaign promises. Some Democrats have pressed Biden to cancel $50,000 for all student loan borrowers, saying it would jumpstart the economy and address racial inequities.
Biden previously said he supports canceling up to $10,000, but said it should be done by Congress. Last year he asked for a review on the legality of using executive action to erase student debt. No decision has been announced.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wvva.com/2022/04/21/feds-thousands-may-have-student-debt-that-should-be-erased/
| 2022-04-21T10:37:18Z
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Queen Elizabeth II privately marks her 96th birthday
LONDON (AP) - Queen Elizabeth II is marking her 96th birthday privately on Thursday, retreating to the Sandringham estate in eastern England that has offered the monarch and her late husband, Prince Philip, a refuge from the affairs of state.
Elizabeth is expected to spend the day at the estate’s Wood Farm cottage, a personal sanctuary where she also spent her first Christmas since Philip’s death in April 2021. Philip loved the cottage, in part because it is close to the sea, she said in February when hosting a rare public event at Sandringham.
“I think the queen’s approach to birthdays very much embodies her keep calm and carry on attitude,” said Emily Nash, the royal editor at HELLO! magazine. “She doesn’t like a fuss.”
This birthday comes during the queen’s platinum jubilee year, marking her 70 years on the throne. While Thursday will be low-key, public celebrations will take place June 2-5, when four days of jubilee festivities have been scheduled to coincide with the monarch’s official birthday.
The day marks yet another milestone in a tumultuous period for the monarch, who has sought to cement the future of the monarchy amid signs of her age and controversy in the family. After recovering from a bout of COVID-19 earlier this year, the queen’s public appearances have been limited by unspecified “mobility issues.” Prince Andrew’s multi-million pound settlement with a woman who accused him of sexual exploitation also caused unwanted headlines for the royal family.
But the queen got an early birthday treat last week, when grandson Prince Harry and Meghan, the Duchess of Sussex, paid her a joint visit for the first time since they stepped away from frontline royal duties and moved to California in 2020. Harry, in an interview with NBC, said his grandmother was “on great form,” though he added that he wanted to make sure she was “protected” and had “the right people around her.”
Britain’s longest-serving monarch, Elizabeth has spent much of the past two years at Windsor Castle, west of London, where she took refuge during the pandemic.
It’s been a little over a year since the death of Philip, her spouse of more than 70 years.
The queen said good-bye during a scaled down funeral in St. George’s Chapel at Windsor Castle. Coronavirus restrictions in place at the time limited the service to 30 mourners and forced the monarch to sit alone — a poignant reminder of how she would spend her remaining years.
Last month, with the pandemic on the wane and restrictions eased, the queen shrugged off recent health issues to attend a service of thanksgiving for Philip at Westminster Abbey, entering the abbey on the arm of Andrew, her second son.
Her choice of escorts was seen as a vote of support for Andrew following his legal settlement.
But the in-person appearance was rare. The Queen has increasingly relied on Prince Charles to take on public engagements in the twilight of her reign, most recently offering alms to senior citizens at the Royal Maundy service at St. George’s Chapel.
Charles took on the traditional task of distributing specially minted coins to pensioners who were being recognized for service to the church and the local community.
This year, 96 men and 96 women received the coins, one for each year of the queen’s life.
“She has a lot coming up in the next few months, so it absolutely makes sense that she enjoys her birthday quietly, privately at Sandringham,” Nash said. “She will no doubt have quite a lot of time to reflect on her happy times there with Prince Philip over the years. But this is really someone whose focus is still on the future, even at the age of 96.”
Copyright 2022 The Associated Press. All rights reserved.
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2 months after Brittney Griner’s arrest in Russia, mystery surrounds her case
WASHINGTON (AP) — For another person in another country at another time, the case might have been a minor matter: an American citizen detained at an airport for allegedly possessing a cannabis derivative legal in much of the world.
But the circumstances for Brittney Griner couldn’t have been worse.
Griner, a WNBA All-Star and two-time Olympic gold medalist, was arrested in Russia, where the offense can mean years in prison, and at a moment when tensions with the U.S. were rising to their highest point in decades. She is a prominent gay, Black woman facing trial in a country where authorities have been hostile to the LGBTQ community, and the country’s nationalist zeal has raised concerns about how she will be treated.
“There are many countries around the world where you do not want to get in trouble, and Russia is one of them,” said Clarence Lusane, a Howard University political science professor who specializes in criminal justice and drug policy.
As extraordinary as her circumstances are, the details surrounding Griner’s case remain a mystery as a crucial court date approaches next month. Russian prosecutors have offered little clarity and the U.S. government has made only measured statements. Griner’s legal team has declined to speak out about the case as it works behind the scenes.
Griner is easily the most prominent American citizen known to be jailed by a foreign government, but in many ways her case isn’t unusual. Americans are frequently arrested overseas on drug and other charges and U.S. authorities are limited about what they can say or the help they can offer. The State Department generally can’t do much to help beyond consular visits and helping the American get an attorney. It also can’t say much unless the person arrested waives privacy rights, which Griner hasn’t fully done.
In some cases, U.S. officials do speak out loudly when they’re convinced an American has been wrongly detained. But Griner’s case is barely two months old and officials have yet to make that determination. A State Department office that works to free American hostages and unjust detainees is not known to be involved.
The Phoenix Mercury star was detained at a Moscow airport in mid-February after Russian authorities said a search of her luggage revealed vape cartridges that allegedly contained oil derived from cannabis — accusations that could carry up to 10 years in prison, though some experts predict she’d get much less if convicted. She was returning to the country after the Russian League, in which she also plays, was taking a break for the FIBA World Cup qualifying tournament.
U.S. officials have said they are tracking the case but have not spoken extensively about it, in part because Griner has not signed a full Privacy Act Waiver. The statements so far have been careful and restrained, focused on ensuring she has access to U.S. consular affairs officials — she had a meeting last month — rather than explicitly demanding her immediate release.
There’s little the U.S. government can do diplomatically to end a criminal prosecution in another country, particularly in the early days of a case. Any deal that would require concessions by the U.S. would seem a nonstarter, especially with Russia at war with Ukraine and the U.S. coordinating actions involving Russia with Western allies.
“It’s a trial lawyer’s nightmare since you have to conduct a trial when the larger political environment is negative,” said William Butler, a Russian law expert and professor at Penn State Dickinson Law.
The State Department has been “doing everything we can to support Brittney Griner to support her family, and to work with them to do everything we can, to see that she is treated appropriately and to seek her release,” spokesman Ned Price said last month. Last week, he said the U.S. was in frequent contact with her legal team and “broader network.”
That’s a more restrained posture than the Biden administration has taken with two other Americans jailed in Russia — Paul Whelan, a corporate security executive from Michigan sentenced to 16 years in prison on espionage-related charges his family says are bogus, and Trevor Reed, a Marine veteran sentenced to nine years on charges that he assaulted a police officer in Moscow as he was being driven to a police station after a night of heavy drinking.
The State Department has pressed Russia for their release. In contrast to Griner’s case, it has described both as unjustly detained.
Race and gender issues are front and center in the Griner case.
Lusane, the Howard University professor, said under Putin “there’s been a hyper nationalism in Russia, so basically anyone who’s not considered Slavic is considered an outsider and a potential threat.”
He added, “She fits into that category.”
On the other hand, he said, there could also be an opening for Putin to build “an inroad into the African American community” by ordering her released as a humanitarian gesture.
Some Griner supporters, including Democratic Rep. Cori Bush of Missouri, have maintained that her case would be getting more attention if she weren’t a Black woman.
The president of the WNBA players’ association, Nneka Ogwumike, said in a “Good Morning America” interview that Griner was in Russia because WNBA players don’t earn enough in the U.S.
“She’s over there because of a gender issue, pay inequity,” Ogwumike said.
Many of Griner’s fellow WNBA players have remained circumspect for fear of antagonizing the situation, though her coach and some of her teammates have made clear in interviews that the 6-foot-9 center is on their minds.
“I spent 10 years there, so I know the way things work,” Phoenix guard Diana Taurasi said of Russia. “It’s delicate.”
Griner recently had her detention extended to May 19. More information about her case may emerge then. But regardless of the factual allegations against her in court, it’s impossible to divorce the legal case from the broader political implications.
“Russians are great chess players,” said Peter Maggs, a research professor and expert in Russian law at the University of Illinois College of Law. “The more pawns you have, the greater your chance of eventual victory. And since things are not going their way, obviously, in Ukraine, any pawns they have they want to hold on to.”
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AP Diplomatic Writer Matthew Lee contributed to this report.
Copyright 2022 The Associated Press. All rights reserved.
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| 2022-04-21T10:59:13Z
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Biden administration drug control plan stresses harm reduction, treatment
(AP) - President Joe Biden is sending his administration’s first national drug control strategy to Congress as the U.S. overdose death toll hit a new record of nearly 107,000 during the past 12 months.
The strategy, released Thursday, is the first national plan to prioritize what’s known as harm reduction, said White House drug czar Dr. Rahul Gupta. That means it focuses on preventing death and illness in drug users while trying to engage them in care and treatment.
The strategy calls for changes in state laws and policies to support the expansion of harm reduction.
“All too often, these drugs wind up in communities where naloxone isn’t readily available,” Gupta said Wednesday, referring to the medication that can revive users who have overdosed, “where harm reduction services are restricted or underfunded, where there are unacceptable barriers to treatment.”
The American Medical Association has advocated for naloxone to be made available over the counter. Test strips that prevent overdoses by checking drugs for fentanyl and clean syringe programs are other examples of harm reduction.
Harm reduction prevents overdoses, reduces the transmission of infectious diseases and “as declared in a recent congressional commission report, it has bipartisan support,” Gupta said.
The first physician to head the Office of National Drug Control Policy, Gupta will oversee the strategy, which also includes:
- Targeting the financial activities of transnational criminal organizations that manufacture and traffic illicit drugs in the United States.
- Reducing the supply of illicit drugs smuggled across U.S. borders.
- Improving data systems and research that guide drug policy.
- Making sure the people most in danger of overdose can get evidence-based treatments, including people experiencing homelessness and those in prison or jail.
“Everyone who wants treatment should be able to get it,” Gupta said.
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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.
Copyright 2022 The Associated Press. All rights reserved.
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| 2022-04-21T10:59:19Z
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Biden set to announce new military assistance for Ukraine
WASHINGTON (AP) — President Joe Biden is set to announce plans to send additional military aid to help Ukraine fight back against the Russian invasion, according to a U.S. official.
The official, who was not authorized to comment publicly and spoke on the condition of anonymity, said Biden will deliver a Thursday morning address at the White House detailing his plans to build on the roughly $2.6 billion in military assistance the administration has already approved for Ukraine.
The new package is expected to be similar in size to the $800 million package Biden announced last week. It includes much needed heavy artillery and ammunition for Ukrainian forces in the escalating battle for the Donbas region of eastern Ukraine.
Earlier this week, Canadian Prime Minister Justin Trudeau also said his country will send heavy artillery to Ukraine. And Dutch Prime Minister Mark Rutte told Ukrainian President Volodymyr Zelenskyy that the Netherlands will send more heavy weapons, including armored vehicles.
A senior U.S. defense official on Wednesday said training of Ukrainian personnel on American 155mm howitzers has begun in a European country outside Ukraine.
Biden on Wednesday lauded U.S. military officials for “exceptional” work arming Ukraine as he gathered the nation’s military brass for their first in-person group meeting at the White House of his presidency.
It’s an annual tradition that had been put on hold because of the coronavirus pandemic but is now being resurrected as the U.S. arms Ukraine to help it fight back against Russia’s invasion.
“I don’t know about you, but I’ve been to Ukraine a number of times before the war ... and I knew they were tough and proud but I tell you what: They’re tougher and more proud than I thought,” Biden told military commanders. “I’m amazed at what they’re doing with your help.”
Biden brought together the Pentagon’s top civilian and uniformed officials amid the most serious fighting in Europe since World War II. Russia’s nearly two-month-old invasion of Ukraine was at the center of wide-ranging talks with Defense Secretary Lloyd Austin, Deputy Defense Secretary Kathleen Hicks, the Joint Chiefs of Staff, and combatant commanders.
Biden also used the gathering to reflect on his administration’s efforts to diversify Pentagon leadership. Hicks is the first Senate-confirmed woman to hold her role. Biden also chose Gen. Jacqueline Van Ovost of the Air Force as commander of United States Transportation Command and Lt. Gen. Laura Richardson of the Army as commander of United States Southern Command. They are just the second and third women to lead combatant commands.
“It’s an important milestone,” Biden said. “I think that speaks to how we’re harnessing the strength and diversity of our country.”
Following the meeting, Biden and first lady Jill Biden hosted the military leaders and their spouses for dinner in the White House Blue Room.
Such a gathering was last held in October 2019. Donald Trump was president at the time and was facing a House inquiry that would lead to his first impeachment, which centered on allegations that he withheld military assistance from Ukraine as part of an effort to pressure Zelenskyy to dig up dirt on Biden’s adult son’s business dealings in Ukraine.
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AP National Security Writer Robert Burns contributed to this report.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.whsv.com/2022/04/21/biden-set-announce-new-military-assistance-ukraine/
| 2022-04-21T10:59:26Z
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Feds: Thousands may have student debt that should be erased
(AP) - Record-keeping failures by the federal government may have left thousands of Americans saddled with student debt that should have been automatically canceled through a benefit for low-income borrowers, according to a new federal study.
In a scathing report released on Wednesday, the Government Accountability Office faulted the Education Department for sloppy oversight of its income-driven repayment program — a collection of plans that offer reduced monthly payments and carry a promise to erase all remaining debt after 20 or 25 years of payments.
The study, requested by Congress, identified 7,700 federal student loans that appear to meet the conditions for loan forgiveness but had yet to be canceled as of September 2020. The loans were held by 3,000 borrowers and amount to a combined $49 million.
It was released a day after the Education Department announced changes to fix what it called “historical failures” of the program. Those changes are expected to help some borrowers get their loans discharged more quickly.
Investigators said they couldn’t verify why the loans hadn’t been forgiven — gaps in the Education Department’s data made it impossible to know for sure. But they suggested it could be the result of poor record-keeping.
Before 2014, the report said, the department failed to make sure borrowers’ monthly payments were being tracked. That in turn has prevented the agency from tracking borrowers’ progress toward loan forgiveness, leaving some repaying loans longer than they should have.
So far, only 157 loans have been forgiven through income-driven plans, according to the study.
“The Department of Education has had trouble tracking borrowers’ payments and hasn’t done enough to ensure that all eligible borrowers receive the forgiveness to which they are entitled,” the GAO said. “We found thousands of borrowers still in repayment who could be eligible for forgiveness now.”
The report details a host of other shortcomings in the income-driven repayment program.
Education officials have failed to make the requirements clear to borrowers, including what types of payments count, the report said. When borrowers pause their payments through the forbearance process, for example, that time generally doesn’t count toward forgiveness. But that wasn’t clearly explained, the GAO found.
It also blamed the agency for failing to tell borrowers that they can request an update on their progress toward loan forgiveness.
Created in 1994, the income-driven repayment program was meant to provide a safety net for people who struggle to repay student loans. The program now offers five repayment options that provide reduced monthly payments based on income and family size. The balance is supposed to be automatically forgiven after 20 or 25 years, depending on the plan.
Among more than $1 trillion in student debt held by the federal government, about half is being repaid through those plans.
The number of loans eligible for forgiveness through the program is expected to balloon in coming years, according to the GAO. By 2030, the office estimates, up to 1.5 million loans held by 600,000 borrowers could meet the conditions for forgiveness.
In a response to the report, Education Department officials acknowledged the failures of the program and promised improvement. They also acknowledged the need to act quickly.
“We recognize that it is important to get payment counting correct now, as the number of loans that have been in repayment long enough to qualify for loan forgiveness will only grow over time,” wrote Richard Cordray, chief operating officer for Federal Student Aid, the office that oversees student loans.
He added that the program has “long been a source of confusion and frustration for many borrowers.”
Cordray agreed to a list of changes recommended by the GAO. He said his agency will identify and correct record-keeping errors, and will create a system to let borrowers check their progress toward loan forgiveness online, among other changes.
Under the department’s new action, borrowers in income-driven plans will get all of their past monthly payments counted toward loan forgiveness, even if they weren’t in an eligible repayment plan at the time. Borrowers who had long stretches in forbearance will also get that time counted toward forgiveness, even though it typically is excluded.
The department called it a one-time revision “to correct for data problems and past implementation inaccuracies.”
Borrower rights advocates applauded the changes but also called for broader improvements to the program, which has long been criticized for being overly complex. Democrats in Congress have urged the department to replace existing income-driven repayment plans with a single, more generous plan.
Among those calling for an overhaul is Rep. Bobby Scott, D-Va., who leads the House education committee and requested the GAO investigation. In a statement, he said the report “confirms serious problems with the management” of the program.
“I am pleased that the Biden-Harris Administration announced steps to fix the problem,” he said. “I continue to stand ready to work with the Department of Education to improve the Income-Driven Repayment program.”
The latest action is part of the Biden administration’s piecemeal attempt to reduce the burden of student debt. The Education Department has taken action to make it easier to get loan forgiveness through other programs, including one for public servants and another for students who are defrauded by their colleges.
This month the administration also suspended student loan payments through August, extending a freeze that has allowed millions of Americans to postpone their payments during the pandemic.
But President Joe Biden also faces mounting pressure to enact sweeping student debt forgiveness for all borrowers, which was one of his campaign promises. Some Democrats have pressed Biden to cancel $50,000 for all student loan borrowers, saying it would jumpstart the economy and address racial inequities.
Biden previously said he supports canceling up to $10,000, but said it should be done by Congress. Last year he asked for a review on the legality of using executive action to erase student debt. No decision has been announced.
Copyright 2022 The Associated Press. All rights reserved.
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| 2022-04-21T10:59:32Z
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LAGUNA HILLS, Calif., April 21, 2022 /PRNewswire/ -- Spineart USA Inc. announced today that surgery has been performed on 100 patients in the single-level U.S. Investigational Device Exemption (IDE) Clinical Trial of the BAGUERA ® C Cervical Disc Prosthesis. The BAGUERA ® C implant is an investigational device in the U.S. designed to reconstruct the cervical disc following discectomy for symptomatic cervical disc disease.
Spineart is currently conducting, in parallel, a single-level and two-level IDE Clinical Trial of the BAGUERA ® C Cervical Disc Prosthesis at more than 20 sites in the U.S. The two-level study is also expected to hit the 100-patient benchmark in the coming month, bringing the total surgeries performed to more than 200.
Surgery to treat cervical degenerative disc disease is generally considered when neurological symptoms are present, such as persistent arm numbness and/or weakness, or when chronic pain is severe and not adequately relieved after at least six months of non-surgical treatments, and daily activities become difficult. Artificial cervical disc replacement involves the removal of the problematic disc and replaces it with an artificial prosthesis. The goal of this surgery is to restore the height and preserve motion at that spinal level.
ABOUT THE BAGUERA ® C CERVICAL DISC PROSTHESIS:
The BAGUERA ® C Cervical Disc Prosthesis, developed by Spineart SA (Geneva, Switzerland), is an investigational device in the U.S. designed to maintain or restore segmental motion and disc height in the cervical region of the spine following single- or two-level discectomy for symptomatic cervical disc disease. The BAGUERA® C is designed to maintain the natural behavior of a functional spinal unit. This design enables the BAGUERA® C nucleus to move in all six degrees of freedom, with independent angular rotations (flexion-extension, lateral bending, and axial rotation) along with independent translational motions (anterior-posterior and lateral translations).
To find a clinical study site near you, or to learn more about the IDE, visit: https://www.spineart.com/us/ide-clinical-investigation/
CAUTION—Investigational device. Limited by United States law to investigational use.
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| 2022-04-21T10:59:39Z
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CONCORD, Mass., April 21, 2022 /PRNewswire/ -- Adiso Therapeutics, Inc., a clinical-stage biotechnology company committed to creating medicines that treat inflammatory diseases and improve the lives of patients and their families, today announced the completion of patient enrollment in the Phase 1b clinical study evaluating ADS024, an orally delivered single strain live biotherapeutic product (SS-LBP), for the prevention of C. difficile infection (CDI) recurrence.
This Phase 1b study is a randomized, placebo-controlled, double-blind, multi-site study in which 36 subjects have been enrolled in two cohorts (A & B). Each patient had a recent CDI and had completed a standard of care course of antibiotics. These patients had been determined to have achieved clinical cure based on signs and symptoms. They were then randomized to 7 or 28 single daily doses of ADS024 or placebo (NCT04891965). Half of the enrolled subjects had experienced their first CDI while the other half had experienced >1 CDI recurrences. Primary endpoints are safety and tolerability. ADS024 clinical activity will be determined by the prevention of CDI recurrence through week 12 (cohort A) or week 16 (cohort B). Topline data are expected in the third quarter of 2022.
"In CDI, current standard of care antibiotics can disrupt gut microbiota, resulting in the recurrence of C. difficile infection. The subsequent toxin-mediated damage can lead to impaired quality of life for the patient and significant healthcare costs," said Scott Megaffin, Chief Executive Officer, Adiso. "The burden of treating CDI recurrence is significant and there's a tremendous opportunity for new modalities, like ADS024 which in preclinical studies has demonstrated an ability to kill C. difficile and degrade its toxins. The potential clinical application of a live biotherapeutic that is not dependent upon the need for engraftment, nor the requirement for fecal matter transplant, and that allows the patient's normal microbiota to recover represents a breakthrough."
About ADS024
ADS024 is an oral single strain live biotherapeutic product (SS-LBP) for the treatment of mild-to-moderate ulcerative colitis and for prevention of C. difficile recurrence. A naturally occurring live biotherapeutic product, ADS024 modulates inflammation as a single strain multimodal LBP and is manufactured from a pure, clonal bacterial cell bank, yielding a standardized lyophilized drug product eliminating the need to directly source from donor fecal material. Clinical application of therapeutic bacteria represents a new approach in the future treatment for a range of human diseases. ADS024 is being evaluated in a Phase 2 study in mild-to-moderate ulcerative colitis and in a Phase 1b study for C. difficile recurrence. It has been granted Fast Track Designation by the FDA for the treatment of patients with C. difficile infection.
About C. difficile
Clostridium difficile is a gram positive bacterium that causes a severe form of diarrhea and colitis. Individuals at highest risk for C. difficile infection (CDI), a serious disease of high unmet need, are those of advanced age who have had recent antibiotic exposure, proton pump inhibitor use, a long stay in a hospital setting, a serious underlying illness, or are immunocompromised. According to the Centers for Disease Control and Prevention (CDC), C. difficile leads to almost half a million infections in the U.S. each year; and approximately 1 in 6 individuals experience a recurrent episode within 2-8 weeks. In 2014, CDI caused over 44,500 deaths. The estimated economic cost of CDI is $5.4 billion.
About Adiso:
Adiso is a clinical-stage biopharmaceutical company dedicated to improving the lives of patients and their families by creating new medicines to treat inflammatory diseases. This dedication is epitomized by our lead clinical candidates, ADS024, an oral single strain live biotherapeutic product (SS-LBP) for the treatment of mild-to-moderate ulcerative colitis and prevention of C. difficile recurrence; ADS051, an oral, gut-restricted modulator of neutrophil trafficking and activation for the treatment of moderate-to-severe ulcerative colitis; and ADS032, a dual NLRP3/NLRP1 inflammasome inhibitor initially being developed for inflammatory diseases of the lung. Adiso has built these development programs upon a rich history of institutional and academic collaboration, including the University College Cork, Ireland, the APC Microbiome Institute, the University of Massachusetts Chan Medical School, the Hudson Institute of Medical Sciences Centre for Innate Immunity and Infectious Diseases in Australia and the University of Edinburgh Centre for Inflammation Research. For more information, please visit www.adisotx.com or our LinkedIn page.
Contacts
Argot Partners
Media: Sarah Sutton/Liza Sullivan
IR: Jason Finkelstein
Adiso@argotpartners.com
212.600.1902
Adiso Therapeutics, Inc.
Jennifer Locke, Chief Operating & Business Officer
pr@adisotx.com
978.202.4335
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| 2022-04-21T10:59:46Z
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SEATTLE, April 21, 2022 /PRNewswire/ -- Alaska Air Group (NYSE: ALK) today reported financial results for its first quarter ending March 31, 2022 and provided outlook for the second quarter ending June 30, 2022.
"Alaska has a proven track record and a resilient business model that delivers in good times and through challenging ones. We are on course to deliver 6% to 9% adjusted pre-tax margins in 2022, as we recently announced at our investor day," said Alaska Airlines CEO Ben Minicucci. "March results were particularly strong, marked by our highest cash sales month in history and revenues that exceeded 2019 levels for the first time since the pandemic began. Our people are working hard to get our airline back to its pre-COVID size and to return to growth from there, all while delivering the operational excellence that we're known for. It's an honor to have our company's hard work recognized by Air Transport World as the 2022 Global Airline of the Year."
Financial Results:
- Reported net loss for the first quarter of 2022 under Generally Accepted Accounting Principles (GAAP) of $143 million, or $1.14 per share, compared to a net loss of $131 million, or $1.05 per share in the first quarter of 2021.
- Reported net loss for the first quarter of 2022, excluding special items and mark-to-market fuel hedge accounting adjustments, of $167 million, or $1.33 per share, compared to a net loss, excluding special items and mark-to-market fuel hedge accounting adjustments, of $436 million or $3.51 per share, in the first quarter of 2021.
- Generated $287 million in operating cash flow for the first quarter, driven by increased advance bookings as both leisure and business demand for air travel continue to recover.
- Held $2.9 billion in unrestricted cash and marketable securities as of March 31, 2022.
- Ended the quarter with a debt-to-capitalization ratio of 50%, within our target range of 40% to 50%.
Operational Updates:
- Announced plans to accelerate the transition of Alaska's mainline fleet to all-Boeing and introduced new plans to transition Horizon's regional fleet to all-Embraer jets by the end of 2023. This transition is expected to drive significant economic benefits through cost savings, operational simplicity and better fuel efficiency.
- Extended the co-branded Mileage Plan credit card agreement with Bank of America through 2030, providing expanded guest benefits and accelerating Alaska's strategic growth plans in the West Coast.
- Modified the Boeing aircraft order to include six firm and 41 option 737-10 aircraft and 10 firm 737-8 aircraft. The new mix of aircraft types provides an optimal fleet for our network and anticipated growth.
- Announced plans to renovate and expand Alaska lounges in Seattle and Portland to provide additional capacity and enhanced amenities, with both expected to open by 2026.
- Received nine Boeing 737-9 aircraft, bringing the total number of 737-9s in our fleet to 20.
- Added Air Tahiti Nui as a new global Mileage Plan partner, allowing our guests to earn miles flying nonstop between Seattle or Los Angeles and French Polynesia.
- Expanded codeshare agreement with Finnair, bringing total codeshare growth to more than 250 routes since Alaska's entrance into the oneworld alliance in 2021.
Recognition and Awards:
- Awarded the 2022 Airline of the Year by Air Transport World, given to an airline each year in recognition of outstanding performance, innovation and superior service.
- Named to the TIME100 Most Influential Companies list, highlighting Alaska's commitment to make meaningful changes in the climate impact of aviation.
Environmental, Social and Governance Updates:
- Announced Patricia Bedient as the next chair of Alaska Air Group's Board of Directors, replacing Brad Tilden effective May 5, 2022.
- Launched the Ascend Pilot Academy in partnership with Hillsboro Aero Academy, providing aspiring pilots a simpler and more financially accessible path to become a commercial pilot at Horizon and Alaska.
- Alongside other oneworld partners, signed two offtake agreements to procure sustainable aviation fuel for California operations, beginning in 2024.
The following table reconciles the company's reported GAAP net loss per share (EPS) for the three months ended March 31, 2022 and 2021 to adjusted amounts.
Statistical data, as well as a reconciliation of the reported non-GAAP financial measures, can be found in the accompanying tables. A glossary of financial terms can be found on the last page of this release.
A conference call regarding the first quarter results will be streamed online at 8:30 a.m. PDT on April 21, 2022. It can be accessed at www.alaskaair.com/investors. For those unable to listen to the live broadcast, a replay will be available after the conclusion of the call.
Second Quarter and Full Year 2022 Outlook
We recently reduced Q2 scheduled capacity in response to shortfalls in throughput from our pilot training department versus what was originally planned. For this reason, coupled with our commitment to exit the Airbus A320 fleet on an accelerated timeline, as well as persistent high oil prices, we have reduced our planned capacity growth modestly as compared to previous expectations.
For these reasons, we've also reduced our full year 2022 capacity expectations from up 1% to 3% versus 2019, to flat to down 3% versus 2019. As a direct result of the reduction in full year capacity expectations, we expect full year 2022 CASMex to be up 6% to 8% compared to our prior expectation of up 3% to 5%. We continue to expect full year 2022 adjusted pre-tax margins between 6% and 9%.
References in this update to "Air Group," "Company," "we," "us," and "our" refer to Alaska Air Group, Inc. and its subsidiaries, unless otherwise specified.
This news release may contain forward-looking statements subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. These statements relate to future events and involve known and unknown risks and uncertainties that may cause actual outcomes to be materially different from those indicated by our forward-looking statements, assumptions or beliefs. For a comprehensive discussion of potential risk factors, see Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2021. Some of these risks include competition, labor costs, relations and availability, general economic conditions including those associated with pandemic recovery, increases in operating costs including fuel, inability to meet cost reduction, ESG and other strategic goals, seasonal fluctuations in demand and financial results, supply chain risks, events that negatively impact aviation safety and security, and changes in laws and regulations that impact our business. All of the forward-looking statements are qualified in their entirety by reference to the risk factors discussed in our most recent Form 10-K and in our subsequent SEC filings. We operate in a continually changing business environment, and new risk factors emerge from time to time. Management cannot predict such new risk factors, nor can it assess the impact, if any, of such new risk factors on our business or events described in any forward-looking statements. We expressly disclaim any obligation to publicly update or revise any forward-looking statements made today to conform them to actual results. Over time, our actual results, performance or achievements may differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, assumptions or beliefs and such differences might be significant and materially adverse.
Alaska Airlines and its regional partners serve more than 120 destinations across the United States, Belize, Canada, Costa Rica, and Mexico. The airline emphasizes Next-Level Care for its guests, along with providing low fares, award-winning customer service, and sustainability efforts. Alaska is a member of the oneworld global alliance. With the alliance and the airline's additional partners, guests can travel to more than 1,000 destinations on more than 20 airlines while earning and redeeming miles on flights to locations around the world. Learn more about Alaska at newsroom.alaskaair.com. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).
Given the unusual nature of 2021 and 2020, we believe that some analysis of specific financial and operational results compared to 2019 provides meaningful insight. The table below includes comparative results from 2022 to 2019.
Note A: Pursuant to Regulation G, we are providing reconciliations of reported non-GAAP financial measures to their most directly comparable financial measures reported on a GAAP basis. We believe that consideration of these non-GAAP financial measures may be important to investors for the following reasons:
- By eliminating fuel expense and certain special items (including Payroll Support Program wage offset, fleet transition and related charges, and restructuring charges) from our unit metrics, we believe that we have better visibility into the results of operations. Our industry is highly competitive and is characterized by high fixed costs, so even a small reduction in non-fuel operating costs can result in a significant improvement in operating results. In addition, we believe that all domestic carriers are similarly impacted by changes in jet fuel costs over the long run, so it is important for management (and thus investors) to understand the impact of (and trends in) company-specific cost drivers such as labor rates and productivity, airport costs, maintenance costs, etc., which are more controllable by management.
- Cost per ASM (CASM) excluding fuel and certain special items, such as Payroll Support Program wage offset, fleet transition and related charges, and restructuring charges, is one of the most important measures used by management and by the Air Group Board of Directors in assessing quarterly and annual cost performance.
- Adjusted income before income tax (and other items as specified in our plan documents) is an important metric for the employee incentive plan, which covers the majority of Air Group employees.
- CASM excluding fuel and certain special items is a measure commonly used by industry analysts, and we believe it is the basis by which they have historically compared our airline to others in the industry. The measure is also the subject of frequent questions from investors.
- Disclosure of the individual impact of certain noted items provides investors the ability to measure and monitor performance both with and without these special items. We believe that disclosing the impact of these items as noted above. Industry analysts and investors consistently measure our performance without these items for better comparability between periods and among other airlines.
- Although we disclose our passenger unit revenues, we do not (nor are we able to) evaluate unit revenues excluding the impact that changes in fuel costs have had on ticket prices. Fuel expense represents a large percentage of our total operating expenses. Fluctuations in fuel prices often drive changes in unit revenues in the mid-to-long term. Although we believe it is useful to evaluate non-fuel unit costs for the reasons noted above, we would caution readers of these financial statements not to place undue reliance on unit costs excluding fuel as a measure or predictor of future profitability because of the significant impact of fuel costs on our business.
GLOSSARY OF TERMS
Adjusted net debt - long-term debt, including current portion, plus capitalized operating leases, less cash and marketable securities
Adjusted net debt to EBITDAR - represents net adjusted debt divided by EBITDAR (trailing twelve months earnings before interest, taxes, depreciation, amortization, special items and rent)
Aircraft Utilization - block hours per day; this represents the average number of hours per day our aircraft are in transit
Aircraft Stage Length - represents the average miles flown per aircraft departure
ASMs - available seat miles, or "capacity"; represents total seats available across the fleet multiplied by the number of miles flown
CASM - operating costs per ASM, or "unit cost"; represents all operating expenses including fuel and special items
CASMex - operating costs excluding fuel and special items per ASM; this metric is used to help track progress toward reduction of non-fuel operating costs since fuel is largely out of our control
Debt-to-capitalization ratio - represents adjusted debt (long-term debt plus capitalized operating lease liabilities) divided by total equity plus adjusted debt
Diluted Earnings per Share - represents earnings per share (EPS) using fully diluted shares outstanding
Diluted Shares - represents the total number of shares that would be outstanding if all possible sources of conversion, such as stock options, were exercised
Economic Fuel - best estimate of the cash cost of fuel, net of the impact of our fuel-hedging program
Load Factor - RPMs as a percentage of ASMs; represents the number of available seats that were filled with paying passengers
Mainline - represents flying Boeing 737, Airbus 320 and Airbus 321neo family jets and all associated revenues and costs
Productivity - number of revenue passengers per full-time equivalent employee
RASM - operating revenue per ASMs, or "unit revenue"; operating revenue includes all passenger revenue, freight & mail, Mileage Plan and other ancillary revenue; represents the average total revenue for flying one seat one mile
Regional - represents capacity purchased by Alaska from Horizon and SkyWest. In this segment, Regional records actual on-board passenger revenue, less costs such as fuel, distribution costs, and payments made to Horizon and SkyWest under the respective capacity purchased arrangement (CPAs). Additionally, Regional includes an allocation of corporate overhead such as IT, finance, other administrative costs incurred by Alaska and on behalf of Horizon.
RPMs - revenue passenger miles, or "traffic"; represents the number of seats that were filled with paying passengers; one passenger traveling one mile is one RPM
Yield - passenger revenue per RPM; represents the average revenue for flying one passenger one mile
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SOURCE Alaska Air Group
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https://www.whsv.com/prnewswire/2022/04/21/alaska-air-group-reports-first-quarter-2022-results/
| 2022-04-21T10:59:52Z
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VANCOUVER, BC, April 21, 2022 /PRNewswire/ - Aritzia Inc. (TSX: ATZ) will release its fourth quarter and full year fiscal 2022 financial results after market close on May 5, 2022. A conference call to discuss the earnings results will follow.
Conference Call Details
Date: Thursday, May 5 2022
Time: 1:30pm PT / 4:30pm ET
To participate in the conference call:
- Please dial 1-800-319-4610 or 1-416-915-3239;
- The call is also accessible via webcast at http://investors.aritzia.com/events-and-presentations/.
A recording will be available shortly after the conclusion of the call:
- Please dial 1-855-669-9658 and the replay access code 8779;
An archive of the webcast will be accessible on Aritzia's website.
About Aritzia
Aritzia is a vertically integrated design house with an innovative global platform. We are creators and purveyors of Everyday Luxury, home to an extensive portfolio of exclusive brands for every function and individual aesthetic. We're about good design, quality materials and timeless style — all with the wellbeing of our people and planet in mind.
Founded in 1984, in Vancouver, Canada, we pride ourselves on creating immersive, and highly personal shopping experiences at aritzia.com and in our 100+ boutiques throughout North America to everyone, everywhere.
Everyday Luxury. To elevate your world.TM
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SOURCE Aritzia Inc.
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https://www.whsv.com/prnewswire/2022/04/21/aritzia-release-fourth-quarter-full-year-fiscal-2022-financial-results/
| 2022-04-21T10:59:59Z
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Roundtrip savings up to $58 available to 27 coast-to-coast destinations
HOUSTON, April 21, 2022 /PRNewswire/ -- As industry-wide airfares heat up, Avelo Airlines is offering a travel-inspiring 30% discount* off fares across its nationwide network of 27 popular destinations. Travelers can purchase the discounted tickets at AveloAir.com through Sunday, April 24, 2022, using the promo code: SpendLess.
The discount can be applied to roundtrip tickets purchased on any Avelo route for travel between May 1, 2022 and June 22, 2022. There are no blackout dates and the discount is available on flights with one-way base fares up to $97 — offering roundtrip savings up to $58 off Avelo's already low everyday fares.
"Avelo was founded with a simple purpose to Inspire Travel," said Avelo Airlines Chairman and CEO Andrew Levy. "This special offer is one of the many ways we are making travel more affordable and easier for our Customers. As we quickly approach Avelo's first anniversary, we remain committed to offering the choice, convenience and affordability our Customers tell us they love about Avelo."
A Growing Network of Popular, Fun and Relaxing Destinations
Avelo offers a convenient, affordable and reliable travel experience to 27 popular destinations across the U.S. on Boeing Next-Generation (NG) 737 aircraft – including its bases at Los Angeles' most popular airport Hollywood Burbank Airport (BUR) and Southern Connecticut's most convenient airport Tweed-New Haven Airport (HVN).
West Coast Destinations (13):
- Bend / Redmond, OR — Redmond Municipal Airport (RDM)
- Boise, ID — Boise Airport (BOI)
- Denver / Fort Collins, CO — Northern Colorado Regional Airport (FNL)
- Eugene, OR — Eugene Airport (EUG)
- Eureka / Arcata, CA — California Redwood Coast-Humboldt County Airport (ACV)
- Las Vegas, NV — Harry Reid International Airport (LAS)
- Los Angeles, CA — Hollywood Burbank Airport (BUR)
- Medford, OR — Rogue Valley International-Medford Airport (MFR)
- Pasco, WA — Tri-Cities Airport (PSC)
- Redding, CA — Redding Airport (RDD)
- Salt Lake City, UT — Ogden-Hinckley Airport (OGD)
- Sonoma County / Santa Rosa, CA — Charles M. Schulz Sonoma County Airport (STS)
- Spokane, WA — Spokane International Airport (GEG)
East Coast Destinations (14):
- Charleston, SC — Charleston International Airport (CHS)
- Chicago, IL — Chicago Midway International Airport (MDW)
- Fort Lauderdale, FL — Fort Lauderdale-Hollywood International Airport (FLL)
- Fort Myers, FL — Southwest Florida International Airport (RSW)
- Myrtle Beach, SC — Myrtle Beach International Airport (MYR)
- Nashville, TN — Nashville International Airport (BNA)
- New Haven, CT — Tweed-New Haven Airport (HVN)
- Orlando, FL — Orlando International Airport (MCO)
- Raleigh / Durham, NC — Raleigh-Durham International Airport (RDU)
- Sarasota / Bradenton, FL — Sarasota Bradenton International Airport (SRQ)
- Savannah, GA — Savanah / Hilton Head International Airport (SAV)
- Tampa, FL — Tampa International Airport (TPA)
- Washington, D.C. — Baltimore / Washington International Thurgood Marshall Airport (BWI)
- West Palm Beach, FL — Palm Beach International Airport (PBI)
A Different, Better and More Affordable Travel Experience
Amidst the crowds, long lines, lengthy walks and traffic congestion encountered at major airports, Avelo primarily serves smaller, secondary airports including HVN, BUR, STS, FNL, PBI, MDW, SRQ, OGD and many others. These more convenient and friendlier airports offer a refreshingly smooth, quick and simple hometown airport experience.
At Avelo, there are no change or cancellation fees, as well as no charge for Customers who choose to make reservations by phone. Additionally, Avelo offers several unbundled travel-enhancing options that give Customers the flexibility to pay for what they value, including priority boarding, checked bags, carry-on overhead bags, and bringing a pet in the cabin.
The fuel-efficient American-made 737 jetliners Avelo operates offer a more spacious and comfortable experience than the much smaller regional aircraft historically operated at many of the airports Avelo serves. Customers may choose from several seating options, including seats with extra leg room, as well as pre-reserved window and aisle seating.
Avelo is distinguished by its Soul of Service culture. The culture is grounded in a "One Crew" mindset that promotes a welcoming and caring experience. By caring for one another and owning their commitments, Avelo Crewmembers focus on anticipating and understanding Customer needs on the ground and in the air.
About Avelo Airlines
Avelo Airlines was founded with a simple purpose — to Inspire Travel. The airline offers Customers time and money-saving convenience, very low everyday fares, and a refreshingly smooth and caring experience through its Avelo Soul of Service culture. Operating a fleet of Boeing Next-Generation 737 aircraft, Avelo currently serves 27 popular destinations across the U.S., including its West Coast base at Los Angeles' Hollywood Burbank Airport (BUR) and its East Coast base at Tweed-New Haven Airport (HVN). For more information visit AveloAir.com. Avelo BROLL + Images here.
* 30% off promo code discount applies to roundtrip flights only, for one-way base fares up-to $97. Must be purchased by 11:59 p.m. PT on 4/24/22. Expiration date cannot be extended. Travel must be completed between 5/1/22-6/22/22. To receive promo savings, enter promo code "SpendLess" at aveloair.com. Discount applies to base fare only. Promo code is not redeemable for cash, and in the case of reservation cancellations, the promo savings will be forfeited. Seats are limited. Fare rules, routes and schedules are subject to change without notice. Restrictions may apply. Not valid on previously purchased itineraries. Additional fees for carry-on and checked bags, assigned seats and other optional services may apply. For full terms and conditions, please visit Avelo's Contract of Carriage.
Media Contact:
Courtney Goff
cgoff@aveloair.com
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SOURCE Avelo Airlines
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https://www.whsv.com/prnewswire/2022/04/21/avelo-airlines-offers-inflation-busting-30-discount-all-routes/
| 2022-04-21T11:00:06Z
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BRISTOL, England, and AUSTIN, Texas, April 21, 2022 /PRNewswire/ --Bristol, UK, and Austin, Texas-based tech firm, Brightpearl, is launching its first podcast, the 'Lightning 50 E-Commerce Growth Hacking' show, on Thursday, 21st April 2022.
Hosted by industry expert Caroline Baldwin, the podcast is a weekly 15-minute bitesize show in which Baldwin interviews retail luminaries from high growth companies.
Each guest on the show has been recognized as being one of the fastest growing online businesses in the world, having made the cut for Brightpearl's 'Lightning 50,' a definitive list of the fastest growing e-commerce companies across the nation.
Brightpearl hopes to set the 'Lightning 50 E-Commerce Growth Hacking' apart by having Baldwin zero in on the specific technological factors behind the growth of highly successful online merchants over the past year.
The debut episode launches today and can be listened to here. It features an interview with luxury vodka brand Au Vodka, revealed as the fastest growing online brand in the 2021 edition of the 'Lightning 50'.
Future episodes will welcome fashion mogul Jade Holland Cooper, founder and owner of the Holland Cooper, a luxury tweed brand. Lauren Juster, Sales and Marketing Director at Biscuiteers, will join for another episode to discuss the 'growth hacks' that have led to the bougie biscuit company's astonishing growth over the past year.
"Our own customer feedback tells us that online firms want to learn from other successful brands in the ecommerce-space, to aid their own growth," said Sara Arthrell, CMO of Brightpearl.
"But the one thing that busy entrepreneurial e-commerce businesses don't have is time. That's why we wanted to provide a bitesize interview format where listeners can absorb the technology secrets fueling the world's fastest growing online brands -- in the time it might take to drink a coffee. We hope the tips, advice and 'hacks' gleaned from our podcast will help online companies to supercharge their growth this year and beyond." Brightpearl, which provides retail operations solutions for some of the world's biggest retail brands, is also re-launching its search to celebrate e-tailers which have grown the most during the past 12 months.
Entries are now open for the 2022 version of the 'Lightning 50,' a definitive list of the fastest growing e-commerce companies across the UK and US.
Online businesses who have seen huge growth over the past year are being invited to register to be in for a chance of inclusion and recognition in the final list. Firms can enter here: Lightning 50 - Brightpearl and entries close on 12th August 2022.
Firms must submit two full years of revenue data for 2020 and 2021 to be eligible for the Lightning 50 which is set to be revealed later this year.
Brightpearl works with thousands of retailers introducing a Retail Operating System that both automates and puts orders, inventory, financials, demand forecasting and CRM in one place, so merchants can grow fearlessly
About Brightpearl
Based in Bristol (UK) and Austin, Texas (US), Brightpearl provides a retail operating system (ROS) for retailers and wholesalers. Brightpearl's ROS includes financial management, inventory and sales order management, purchasing and supplier management, CRM, fulfillment, warehouse and logistics. In addition, the system has high-performing connectors to the major ecommerce platforms, including Magento, BigCommerce and Shopify. Brightpearl's platform manages over 10m transactions and $5bn of business a year.
In 2022, Brightpearl became part of the Sage Group plc, with the combination of Sage Intacct and Brightpearl creating a powerful solution for retailers and wholesalers.
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SOURCE Brightpearl
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https://www.whsv.com/prnewswire/2022/04/21/brightpearl-launches-growth-hacking-podcast-online-retailers/
| 2022-04-21T11:00:13Z
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Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
cgi.com/newsroom
MONTRÉAL, April 21, 2022 /PRNewswire/ - CGI (TSX: GIB) (NYSE: GIB) will release results for its second quarter fiscal year 2022, ended March 31, 2022, on Wednesday, April 27, 2022 before the markets open. Management will host a conference call to discuss results and answer questions at 9:00 a.m. (EDT).
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 82,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2021 reported revenue is $12.13 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
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SOURCE CGI Inc.
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https://www.whsv.com/prnewswire/2022/04/21/cgi-release-second-quarter-fiscal-2022-results-april-27/
| 2022-04-21T11:00:20Z
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WASHINGTON, April 21, 2022 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) (the "Company") today announced results for the first quarter 2022.
For the quarter ended April 1, 2022, net earnings were $1.7 billion, or $2.31 per diluted common share which represents a 1.0% increase over the comparable 2021 period. Non-GAAP adjusted diluted net earnings per common share were $2.76 which represents a 9.5% increase over the comparable 2021 period.
Revenues increased 12.0% year-over-year to $7.7 billion, with 12.0% non-GAAP core revenue growth and 8.0% non-GAAP base business core revenue growth.
Operating cash flow was $2.0 billion and non-GAAP free cash flow was $1.7 billion.
For the second quarter 2022, the Company anticipates that non-GAAP base business core revenue growth will be in the mid-single digit percent range, which includes an approximately 200 to 300 basis point headwind from the COVID-19 related shutdowns in China.
For the full year 2022, the Company continues to expect non-GAAP base business core revenue growth will be in the high-single digit percent range.
Rainer M. Blair, President and Chief Executive Officer, stated, "We had a good start to the year with results exceeding our initial expectations. Our team successfully navigated a dynamic environment to deliver double digit core revenue growth, approximately 10% adjusted earnings per share growth and $2.0 billion of operating cash flow, despite difficult prior year comparisons. This performance was broad based with all three of our segments delivering high-single digit or better core revenue growth. We believe our strong execution combined with investments in innovation have driven market share gains in many of our businesses."
Danaher will discuss its results during its quarterly investor conference call today starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the "Investors" section of Danaher's website, www.danaher.com, under the subheading "Events & Presentations." A replay of the webcast will be available in the same section of Danaher's website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.
The conference call can be accessed by dialing 866-952-8559 within the U.S. or by dialing +1 785-424-1881 outside the U.S. a few minutes before the 8:00 a.m. ET start and telling the operator that you are dialing in for Danaher's earnings conference call (Conference ID: DHRQ122). A replay of the conference call will be available shortly after the conclusion of the call and until May 5, 2022. You can access the replay dial-in information on the "Investors" section of Danaher's website under the subheading "Events & Presentations." In addition, presentation materials relating to Danaher's results have been posted to the "Investors" section of Danaher's website under the subheading "Quarterly Earnings."
ABOUT DANAHER
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher's globally diverse team of approximately 80,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life's Potential. For more information, please visit www.danaher.com.
NON-GAAP MEASURES
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, as applicable, and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.
FORWARD-LOOKING STATEMENTS
Statements in this release that are not strictly historical, including the statements regarding the Company's expected financial performance for the second quarter and full year 2022 and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the highly uncertain and unpredictable severity, magnitude and duration of the COVID-19 pandemic (and the related governmental, business and community responses thereto) on our business, results of operations and financial condition, the impact of our debt obligations on our operations and liquidity, deterioration of or instability in the economy, the markets we serve and the financial markets (including as a result of the COVID-19 pandemic), uncertainties relating to U.S. laws or policies, including potential changes in U.S. trade policies and tariffs and the reaction of other countries thereto, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including rules relating to off-label marketing and other regulations relating to medical devices and the health care industry), the results of our clinical trials and perceptions thereof, our ability to effectively address cost reductions and other changes in the health care industry, our ability to successfully identify and consummate appropriate acquisitions and strategic investments and successfully complete divestitures and other dispositions, our ability to integrate the businesses we acquire and achieve the anticipated growth, synergies and other benefits of such acquisitions, contingent liabilities and other risks relating to acquisitions, investments, strategic relationships and divestitures (including tax-related and other contingent liabilities relating to past and future IPOs, split-offs or spin-offs), security breaches or other disruptions of our information technology systems or violations of data privacy laws, the impact of our restructuring activities on our ability to grow, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, changes in tax laws applicable to multinational companies, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, the rights of the United States government to use, disclose and license certain intellectual property we license if we fail to commercialize it, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, our relationships with and the performance of our channel partners, uncertainties relating to collaboration arrangements with third-parties, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, the impact of deregulation on demand for our products and services, the impact of climate change, or legal or regulatory measures to address climate change, labor matters and our ability to recruit, retain and motivate talented employees, international economic, political, legal, compliance, social and business factors (including the impact of the United Kingdom's separation from the European Union and the impact of the military conflict between Russia and Ukraine), disruptions relating to man-made and natural disasters (including pandemics such as COVID-19) and pension plan costs. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2021 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the first quarter of 2022. These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
DANAHER CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures.
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures.
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures.
Statement Regarding Non-GAAP Measures
Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing Danaher Corporation's ("Danaher" or the "Company") results that, when reconciled to the corresponding GAAP measure, help our investors to:
- with respect to Adjusted Diluted Net Earnings Per Common Share, understand the long-term profitability trends of our business and compare our profitability to prior and future periods and to our peers;
- with respect to core sales and related sales measures, identify underlying growth trends in our business and compare our sales performance with prior and future periods and to our peers; and
- with respect to free cash flow and related cash flow measures (the "FCF Measure"), understand Danaher's ability to generate cash without external financings, strengthen its balance sheet, invest in its business and grow its business through acquisitions and other strategic opportunities (although a limitation of free cash flow is that it does not take into account the Company's debt service requirements and other non-discretionary expenditures, and as a result the entire free cash flow amount is not necessarily available for discretionary expenditures).
While we expect overall demand for the Company's COVID-19 related products to moderate as and to the extent the pandemic subsides, as the pandemic evolves toward endemic status we believe a level of demand for the Company's products that support COVID-19 related vaccines and therapeutics (including initiatives that seek to prevent or mitigate similar, future pandemics) and COVID-19 testing will continue. However, on a relative basis, we expect the level of ongoing demand for products supporting COVID-19 testing will be subject to more fluctuations in demand than the level of demand for products supporting COVID-19 related vaccines and therapeutics. Therefore, beginning with the first quarter of 2022, in addition to disclosing core revenue growth, we disclose "base business core sales growth" on a basis that excludes revenues related to COVID-19 testing and includes revenues from products that support COVID-19 related vaccines and therapeutics. We believe this additional measure provides useful information to investors by facilitating period-to-period comparisons of our financial performance and identifying underlying growth trends in the Company's business that otherwise may be obscured by fluctuations in demand for COVID-19 testing as a result of the pandemic.
Management uses these non-GAAP measures to measure the Company's operating and financial performance, and uses core sales and non-GAAP measures similar to Adjusted Diluted Net Earnings Per Common Share and the FCF Measure in the Company's executive compensation program.
The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons:
- With respect to Adjusted Diluted Net Earnings Per Common Share:
- With respect to adjusted average common stock and common equivalent shares outstanding, Danaher's Mandatory Convertible Preferred Stock ("MCPS") Series A converted into Danaher common stock on April 15, 2022 and MCPS Series B will mandatorily convert into Danaher common stock on the mandatory conversion date, which is expected to be April 15, 2023 (unless converted or redeemed earlier in accordance with the terms of the applicable certificate of designations). With respect to the calculation of Adjusted Diluted Net Earnings Per Common Share, we apply the "if converted" method of share dilution to the MCPS Series A and B in all applicable periods irrespective of whether such preferred shares would be dilutive or anti-dilutive in the period. We believe this presentation provides useful information to investors by helping them understand what the net impact will be on Danaher's earnings per share-related measures once the MCPS convert into Danaher common stock.
- With respect to core sales related measures, (1) we exclude the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult.
- With respect to the FCF Measure, we exclude payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to demonstrate the amount of operating cash flow for the period that remains after accounting for the Company's capital expenditure requirements.
With respect to forecasted core sales related measures, we do not reconcile these measures to the comparable GAAP measure because of the inherent difficulty in predicting and estimating the future impact and timing of currency translation, acquisitions and divested product lines, which would be reflected in any forecasted GAAP revenue.
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SOURCE Danaher Corporation
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https://www.whsv.com/prnewswire/2022/04/21/danaher-reports-first-quarter-2022-results/
| 2022-04-21T11:00:27Z
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SHANGHAI, April 21, 2022 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the first quarter of 2022.
First Quarter 2022 Financial and Operating Highlights
- Polysilicon production volume was 31,383 MT in Q1 2022, compared to 23,616 MT in Q4 2021
- Polysilicon sales volume was 38,839 MT in Q1 2022, compared to 11,642 MT in Q4 2021
- Polysilicon average total production cost(1) was $10.09/kg in Q1 2022, compared to $14.11/kg in Q4 2021
- Polysilicon average cash cost(1) was $9.19/kg in Q1 2022, compared to $13.32/kg in Q4 2021
- Polysilicon average selling price (ASP) was $32.76/kg in Q1 2022, compared to $33.91/kg in Q4 2021
- Revenue was $1,280.3 million in Q1 2022, compared to $395.5 million in Q4 2021
- Gross profit was $813.6 million in Q1 2022, compared to $239.8 million in Q4 2021. Gross margin was 63.5% in Q1 2022, compared to 60.6% in Q4 2021
- Net income attributable to Daqo New Energy Corp. shareholders was $535.8 million in Q1 2022, compared to $141.3 million in Q4 2021
- Earnings per basic American Depositary Share (ADS)(3) was $7.17 in Q1 2022, compared to $1.90 in Q4 2021
- EBITDA (non-GAAP)(2) was $826.8 million in Q1 2022, compared to $251.1 million in Q4 2021. EBITDA margin (non-GAAP)(2) was 64.6% in Q1 2022, compared to 63.5% in Q4 2021
Notes:
(1) Production cost and cash cost only refer to production in our polysilicon facilities. Production cost is calculated by the inventoriable costs relating to production of polysilicon divided by the production volume in the period indicated. Cash cost is calculated by the inventoriable costs relating to production of polysilicon excluding depreciation expense, divided by the production volume in the period indicated.
(2) Daqo New Energy provides EBITDA and EBITDA margins on a non-GAAP basis to provide supplemental information regarding its financial performance. For more information on these non-GAAP financial measures, please see the section captioned "Use of Non-GAAP Financial Measures" and the tables captioned "Reconciliation of non-GAAP financial measures to comparable US GAAP measures" set forth at the end of this press release.
(3) ADS means American Depositary Share. One (1) ADS representing five (5) ordinary shares.
Management Remarks
Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are very pleased to report exceptional results for the first quarter of 2022, the best-ever in the company's history. I would like to thank our entire team for their hard work and dedication in delivering such excellent operational and financial performance. For the quarter, we achieved polysilicon sales volume of 38,839 MT, more than 3 times our sales volume for the fourth quarter of 2021. We recorded $1.3 billion in revenue, also more than 3 times of the revenue for the fourth quarter of 2021, and we recorded operating income of $797 million, net income attributable to Daqo New Energy shareholders of $536 million, earning per share ("EPS") of $7.17 per share and EBITDA of $827 million, all representing substantial sequential and year-over-year growth. At the end of the quarter, our combined cash, short term investments, and bank note receivable balance reached $2.6 billion, an increase of $1.2 billion compared to the end of 2021. This strong financial performance reflects not only the strength of the end market but also the trust that our customers place in the quality and reliability of our high-purity mono-grade polysilicon products."
"Last December, we began production at our new 35,000MT phase 4B polysilicon expansion project. Production ramp up was successful throughout the first quarter. During the first quarter we produced 31,383 MT of polysilicon, a 33% increase compared to the fourth quarter of 2021, of which 97.2% was mono-grade. In the first quarter, our production cost was $10.09/kg, a significant decrease from $14.11/kg in the fourth quarter of 2021, primarily due to the decrease in the cost of silicon powder, as well as manufacturing efficiency improvements and better economies of scale."
"We continue to see very strong demand for solar PV products both in China and overseas. In the first two months of 2022, new installations of solar PV in China were approximately 10.9 GW. According to the China Photovoltaic Industry Association, new PV installations in China are expected to increase from 53 GW in 2021 to 75-90 GW in 2022. In the first two months of 2022, based on China's custom's data, China's solar PV module export volume was approximately 26 GW, doubled from the same period in 2021. As a result of the stronger-than-expected market demand, product pricing across the entire solar PV value chain increased consistently during the first quarter. Based on statistics from the China Silicon Industry Association, the average market ASPs (VAT included) of small chunk mono-grade polysilicon increased from RMB 231.8/kg in the first week of January to RMB 253.3/kg in the third week of April, reflecting healthy demand from our customers and continued tight supplies. We also see healthy gross margin in the downstream wafer sector which indicates that the solar value chain is able to pass down the impact of strong polysilicon prices to the end market."
"Global trends continue to favor the solar industry, which particularly benefits the polysilicon sector. We are beginning to witness significant policy shifts to accelerate clean energy adoption and de-carbonization around the world. During the month of March 2022, the European Union announced its RePowerEU initiative, which calls for an acceleration of clean energy transition under the European Green Deal. Germany, in particular, has announced an ambitious program to significantly accelerate its clean energy transition, with plans to deploy 22GW of solar installations per year starting 2026, a four-fold increase from 2021 installations of 5.3GW. As solar energy has already achieved grid-parity broadly in many regions globally, the recent spike in high and volatile energy prices will further drive solar energy adoption with attractive economic returns. All these factors will lead to additional demand for solar products which cannot be met by the current market supply. We believe the polysilicon sector will remain one of the most profitable sectors in the solar PV value chain, as polysilicon will continue to be in short supply and determine the actual pace and total volume of global installations. We will continue to focus on the efficient operation of our core business, increase our capacity based on market needs, continue to enhance our competitiveness in quality and reliability, and further optimize our cost structure to provide consistent returns to our shareholders."
Outlook and guidance
The Company expects to produce approximately 32,000MT to 34,000MT of polysilicon in the second quarter of 2022 and approximately 120,000MT to 125,000MT of polysilicon in the full year of 2022, inclusive of the impact of the Company's annual facility maintenance.
This outlook reflects Daqo New Energy's current and preliminary view as of the date of this press release and may be subject to changes. The Company's ability to achieve these projections is subject to risks and uncertainties. See "Safe Harbor Statement" at the end of this press release.
First Quarter 2022 Results
Revenues
Revenues were $1,280.3 million, compared to $395.5 million in the fourth quarter of 2021 and $256.1 million in the first quarter of 2021. The increase in revenues as compared to the fourth quarter of 2021 was primarily due to significantly higher polysilicon sales volume partially offset by slightly lower ASPs.
Gross profit and margin
Gross profit was $813.6 million, compared to $239.8 million in the fourth quarter of 2021 and $118.9 million in the first quarter of 2021. Gross margin was 63.5%, compared to 60.6% in the fourth quarter of 2021 and 46.4% in the first quarter of 2021. The increase in gross profit as compared to the fourth quarter of 2021 was primarily due to higher sales volume. The increase in gross margin as compared to the fourth quarter of 2021 was primarily due to lower production cost partially offset by lower ASPs.
Selling, general and administrative expenses
Selling, general and administrative expenses were $15.5 million, compared to $10.2 million in the fourth quarter of 2021 and $9.0 million in the first quarter of 2021. The increase in SG&A expenses as compared to the fourth quarter of 2021 was primarily due to an increase in shipment expenses as a result of increased sales volume. SG&A expenses during the first quarter included $2.0 million in non-cash share-based compensation costs related to the Company's share incentive plan.
Research and development expenses
Research and development (R&D) expenses were $2.1 million, compared to $1.3 million in the fourth quarter of 2021 and $1.2 million in the first quarter of 2021. Research and development expenses can vary from period to period and reflect R&D activities that take place during the quarter.
Income from operations and operating margin
As a result of the foregoing, income from operations was $796.9 million, compared to $228.1 million in the fourth quarter of 2021 and $109.2 million in the first quarter of 2021.
Operating margin was 62.2%, compared to 57.7% in the fourth quarter of 2021 and 42.6% in the first quarter of 2021.
EBITDA (non-GAAP)
EBITDA (non-GAAP) was $826.8 million, compared to $251.1 million in the fourth quarter of 2021 and $128.1 million in the first quarter of 2021. EBITDA margin (non-GAAP) was 64.6%, compared to 63.5% in the fourth quarter of 2021 and 50.0% in the first quarter of 2021.
Net income attributable to Daqo New Energy Corp. shareholders and earnings per ADS
As a result of the aforementioned, net income attributable to Daqo New Energy Corp. shareholders was $535.8 million, compared to $141.3 million in the fourth quarter of 2021 and $83.2 million in the first quarter of 2021.
Earnings per basic American Depository Share (ADS) was $7.17, compared to $1.90 in the fourth quarter of 2021, and $1.13 in the first quarter of 2021.
Financial Condition
As of March 31, 2022, the Company had $1,127.7 million in cash, cash equivalents and restricted cash, compared to $724.0 million as of December 31, 2021 and $227.8 million as of March 31, 2021. As of March 31, 2022, the notes receivable balance was $1,499.4 million, compared to $365.9 million as of December 31, 2021 and $38.5 million as of March 31, 2021. The increase in notes receivables compared to December 31, 2021 was primarily due to higher revenues and advance payments from customers. As of March 31, 2022, total borrowings were nil, compared to nil as of December 31, 2021 and total borrowings of $222.2 million, including $100.4 million long-term borrowings, as of March 31, 2021.
Cash Flows
For the three months ended March 31, 2022, net cash provided by operating activities was $231.3 million, compared to $159.2 million in the same period of 2021. The increase was primarily due to higher revenues and gross margin.
For the three months ended March 31, 2022, net cash provided by investing activities was $170.4 million, compared to net cash used in investing activities of $79.9 million in the same period of 2021. The net cash used in investing activities in Q1 2021 was primarily related to the capital expenditures on the Company's Phase 4B and 4A polysilicon projects. The net cash provided by investing activities in Q1 2022 was primarily due to the redemption of short-term investments offset by the capital expenditures on the Company's Phase 4B project and Inner Mongolia polysilicon project.
For the three months ended March 31, 2022, net cash provided by financing activities was nil, compared to net cash used in financing activities of $31.7 million in the same period of 2021.
Use of Non-GAAP Financial Measures
To supplement Daqo New Energy's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("US GAAP"), the Company uses certain non-GAAP financial measures that are adjusted for certain items from the most directly comparable GAAP measures including earnings before interest, taxes, depreciation and amortization ("EBITDA") and EBITDA margin (which represents the proportion of EBITDA in revenues). Our management believes that each of these non-GAAP measures is useful to investors, enabling them to better assess changes in key element of the Company's results of operations across different reporting periods on a consistent basis, independent of certain items as described below. Thus, our management believes that, used in conjunction with US GAAP financial measures, these non-GAAP financial measures provide investors with meaningful supplemental information to assess the Company's operating results in a manner that is focused on its ongoing, core operating performance. Our management uses these non-GAAP measures internally to assess the business, its financial performance, current and historical results, as well as for strategic decision-making and forecasting future results. Given our management's use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company's operating results as seen through the eyes of our management. These non-GAAP measures are not prepared in accordance with US GAAP or intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with US GAAP; the non-GAAP measures should be reviewed together with the US GAAP measures, and may be different from non-GAAP measures used by other companies.
A reconciliation of non-GAAP financial measures to comparable US GAAP measures is presented later in this document.
Conference Call
The Company has scheduled a conference call to discuss the results at 8:00 AM Eastern Time on April 21, 2022. (8:00 PM Beijing / Hong Kong time on the same day).
The dial-in details for the live conference call are as follows:
You can also listen to the conference call via Webcast through the URL:
A replay of the call will be available 1 hour after the end of the conference through April 28, 2022.
The conference call replay numbers are as follows:
To access the replay using an international dial-in number, please select the link below.
https://services.choruscall.com/ccforms/replay.html
Participants will be required to state their name and company upon entering the call.
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company") is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Founded in 2007, the Company manufactures and sells high-purity polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 105,000 metric tons and is one of the world's lowest cost producers of high-purity polysilicon.
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", "might" and "guidance" and similar statements. Among other things, the outlook for the second quarter and the full year of 2022 and quotations from management in these announcements well as Daqo New Energy's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. 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, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. 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 demand for photovoltaic products and the development of photovoltaic technologies; global supply and demand for polysilicon; alternative technologies in cell manufacturing; the Company's ability to significantly expand its polysilicon production capacity and output; the reduction in or elimination of government subsidies and economic incentives for solar energy applications; the Company's ability to lower its production costs; changes in political and regulatory environment; and the duration of COVID-19 outbreaks in China and many other countries and the impact of the outbreaks and the quarantines and travel restrictions instituted by relevant governments on economic and market conditions, including potentially weaker global demand for solar PV installations that could adversely affect the Company's business and financial performance. Further information regarding these and other risks is included in the reports or documents the Company has filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date hereof, and the Company undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
For more information, please visit www.dqsolar.com
Daqo New Energy Corp.
Investor Relations
Email: dqir@daqo.com
Christensen
In China
Mr. Rene Vanguestaine
Phone: +86 178 1749 0483
rvanguestaine@christensenir.com
In the U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@Christensenir.com
View original content:
SOURCE Daqo New Energy Corp.
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https://www.whsv.com/prnewswire/2022/04/21/daqo-new-energy-announces-unaudited-first-quarter-2022-results/
| 2022-04-21T11:00:34Z
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Published: Apr. 21, 2022 at 6:30 AM EDT|Updated: 30 minutes ago
DOWNERS GROVE, Ill., April 21, 2022 /PRNewswire/ -- Dover (NYSE: DOV), a diversified global manufacturer, announced its financial results for the first quarter ended March 31, 2022.
For the quarter ended March 31, 2022, Dover generated revenue of $2.1 billion, an increase of 10% (+9% organic) compared to the first quarter of the prior year. GAAP net earnings of $226 million decreased 3%, and GAAP diluted EPS of $1.56 was also down 3%. On an adjusted basis, net earnings of $275 million increased 5% and adjusted diluted EPS of $1.90 was also up 5% versus the comparable quarter of the prior year.
A full reconciliation between GAAP and adjusted measures and definitions of non-GAAP and other performance measures are included as an exhibit herein.
MANAGEMENT COMMENTARY:
Dover's President and Chief Executive Officer, Richard J. Tobin, said, "Our results in the first quarter were in line with our expectations and reflect solid execution amidst an operating environment that remains challenging on many levels.
"Revenue grew across a majority of our businesses, buoyed by solid underlying demand and our ability to produce and ship despite numerous operational challenges, and a difficult macro backdrop in Eastern Europe and China. Backlogs and order rates remain robust across much of the portfolio. Operating margin performance for the quarter was satisfactory as volume leverage, productivity, and tight cost controls were able to dampen the negative impact of supply chain constraints, input inflation, and un-forecasted production interruptions. Our pricing versus cost spread improved from the previous quarter as we liquidated our older order book and inventory position; we expect this to further improve over the balance of the year, meaningfully contributing to profitability.
"We are investing in capacity expansions and productivity improvements to ensure we can continue to drive revenue growth and win in the marketplace. The acquisitions that we closed in the fourth quarter of 2021 in the Clean Energy and Fueling segment are performing above expectations, and we recently acquired unique electric refuse collection vehicle technology.
"We believe we are well-positioned to deliver solid performance in 2022. Demand conditions are constructive and our backlog remains at record levels, providing us with good revenue visibility and the ability to forecast production. We are taking active measures to counter persisting headwinds and are prudently evaluating various scenarios of macro and specific market developments. We are maintaining our 2022 adjusted full-year guidance and will continue evaluating it as the year unfolds."
FULL YEAR 2022 GUIDANCE:
In 2022, Dover expects to generate GAAP EPS in the range of $7.39 to $7.59 (adjusted EPS of $8.45 to $8.65), based on full year revenue growth of 8% to 10% (7% to 9% on an organic basis).
CONFERENCE CALL INFORMATION:
Dover will host a webcast and conference call to discuss its first quarter 2022 results at 9:00 A.M. Eastern Time (8:00 A.M. Central Time) on Thursday, April 21, 2022. The webcast can be accessed on the Dover website at dovercorporation.com. The conference call will also be made available for replay on the website. Additional information on Dover's first quarter results and its operating segments can be found on the Company's website.
ABOUT DOVER:
Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of over 25,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements in this document other than statements of historical fact are statements that are, or could be deemed, "forward-looking" statements. Forward-looking statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things, the impacts of COVID-19, or other future pandemics, on the global economy and on our customers, suppliers, employees, business and cash flows, supply chain constraints and labor shortages that could result in production stoppages, inflation in material input costs and freight logistics, other general economic conditions and conditions in the particular markets in which we operate, the impact on global or a regional economy due to the outbreak or escalation of hostilities or war, changes in customer demand and capital spending, competitive factors and pricing pressures, our ability to develop and launch new products in a cost-effective manner, our ability to realize synergies from newly acquired businesses, and our ability to derive expected benefits from restructuring, productivity initiatives and other cost reduction actions. For details on the risks and uncertainties that could cause our results to differ materially from the forward-looking statements contained herein, we refer you to the documents we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2021, and our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available from the Securities and Exchange Commission, and on our website, dovercorporation.com. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Non-GAAP Measures Definitions
In an effort to provide investors with additional information regarding our results as determined by GAAP, management also discloses non-GAAP information that management believes provides useful information to investors. Adjusted net earnings, adjusted diluted net earnings per share, total segment earnings (EBIT), adjusted EBIT by segment, adjusted EBIT margin by segment, adjusted EBITDA by segment, adjusted EBITDA margin by segment, free cash flow, free cash flow as a percentage of revenue, free cash flow as a percentage of adjusted net earnings, and organic revenue growth are not financial measures under GAAP and should not be considered as a substitute for net earnings, diluted net earnings per share, cash flows from operating activities, or revenue as determined in accordance with GAAP, and they may not be comparable to similarly titled measures reported by other companies.
Adjusted net earnings represents net earnings adjusted for the effect of acquisition-related amortization and inventory step-up, rightsizing and other costs/benefits, and a gain/loss on disposition. We exclude after-tax acquisition-related amortization because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions the Company consummates. While we have a history of acquisition activity, our acquisitions do not happen in a predictive cycle. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time. We believe it is important to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. We exclude the other items because they occur for reasons that may be unrelated to the Company's commercial performance during the period and/or Management believes they are not indicative of the Company's ongoing operating costs or gains in a given period.
Adjusted diluted net earnings per share or adjusted earnings per share represents diluted EPS adjusted for the effect of acquisition-related amortization and inventory step-up, rightsizing and other costs/benefits, and a gain/loss on disposition,
Total segment earnings (EBIT) is defined as net earnings before income taxes, net interest expense and corporate expenses. Total segment earnings (EBIT) margin is defined as total segment earnings (EBIT) divided by revenue.
Adjusted EBIT by Segment is defined as net earnings before income taxes, net interest expense, corporate expenses, rightsizing and other costs/benefits, and a 2020 gain/loss on disposition. Adjusted EBIT Margin by Segment is defined as adjusted EBIT by segment divided by segment revenue.
Adjusted EBITDA by Segment is defined as adjusted EBIT by segment plus depreciation and amortization, excluding depreciation and amortization included within rightsizing and other costs/benefits. Adjusted EBITDA Margin by Segment is defined as adjusted EBITDA by segment divided by segment revenue.
Management believes the non-GAAP measures above are useful to investors to better understand the Company's ongoing profitability as they will better reflect the Company's core operating results, offer more transparency and facilitate easier comparability to prior and future periods and to its peers.
Free cash flow represents net cash provided by operating activities minus capital expenditures. Free cash flow as a percentage of revenue equals free cash flow divided by revenue. Free cash flow as a percentage of adjusted net earnings equals free cash flow divided by adjusted net earnings. Management believes that free cash flow and free cash flow ratios are important measures of operating performance because it provides management and investors a measurement of cash generated from operations that is available for mandatory payment obligations and investment opportunities, such as funding acquisitions, paying dividends, repaying debt and repurchasing our common stock.
Management believes that reporting organic revenue growth, which excludes the impact of foreign currency exchange rates and the impact of acquisitions and dispositions, provides a useful comparison of our revenue and bookings performance and trends between periods. We do not provide a reconciliation of forward-looking organic revenue to consolidated revenue (the most directly comparable GAAP financial measure) because we are not able to provide a meaningful or accurate compilation of reconciling items. This is due to the inherent difficulty in accurately forecasting the timing and amounts of the items that would be excluded from the most directly comparable GAAP financial measure or are out of our control. For the same reasons, we are unable to address the probable significance of unavailable information which may be material.
Performance Measures Definitions
Bookings represent total orders received from customers in the current reporting period. This metric is an important measure of performance and an indicator of revenue order trends.
Organic bookings represent total orders received from customers in the current reporting period excluding the impact of foreign currency exchange rates and the impact of acquisition and dispositions. This metric is an important measure of performance and an indicator of revenue order trends.
Backlog represents an estimate of the total remaining bookings at a point in time for which performance obligations have not yet have satisfied. This metric is useful as it represents the aggregate amount we expect to recognize as revenue in the future.
We use the above operational metrics in monitoring the performance of the business. We believe the operational metrics are useful to investors and other users of our financial information in assessing the performance of our segments.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
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https://www.whsv.com/prnewswire/2022/04/21/dover-reports-first-quarter-2022-results/
| 2022-04-21T11:00:40Z
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- New capacity to support global growth in key end-markets delivering 10% to 15% annual growth rates
- Builds on previously announced capacity expansions, increasing Company's global alkoxylation capacity by 70% vs. 2020 baseline, collectively
- Higher return and faster-payback projects expected to come online in 2024 and 2025
MIDLAND, Mich., April 21, 2022 /PRNewswire/ -- Dow (NYSE: DOW) announced today plans to expand its global alkoxylation capacity in the U.S. and Europe to meet increasing demand across a wide range of fast-growing end-markets where the Company is delivering 10% to 15% annual growth rates, from home and personal care to industrial and institutional cleaning solutions and pharmaceuticals.
The faster-payback, higher return investments announced today will increase Dow's capacity, while maintaining current carbon emissions levels through the use of efficient technologies and site improvements. These investments in the U.S. and Europe are backed by supply agreements with customers, including leading consumer brands, and expected to come online in 2024 and 2025, respectively.
"We have consistently seen increased demand for our alkoxylation capabilities aligned to industry sectors growing faster than GDP across the cycle," said Brendy Lange, business vice president of Dow Industrial Solutions. "These latest investments are another demonstration of our commitment to customer collaboration and innovation backed by industry leading integration."
Today's announcement builds on the Company's alkoxylation capacity expansions announced in 2018 in Louisiana and in 2019 in Spain, which are both on track to come online this year. In total, these and other efficiency projects are expected to generate more than $150 million in run-rate EBITDA by 2025, with returns greater than 20%. Collectively, Dow's investments will result in approximately 70% global capacity growth for Dow and its customers since 2020.
Dow's versatile alkoxylation assets upgrade basic materials science building blocks to produce safe and sustainable ingredients for cosmetics, household and industrial cleaning, home and personal care, crop defense, oil and gas, pharmaceuticals, paints and many other products for everyday use in a number of product lines, including TERGITOL™, UCON™, ECOSURF™, and CARBOWAX™ SENTRY™.
About Dow
Dow (NYSE: DOW) combines global breadth; asset integration and scale; focused innovation and materials science expertise; leading business positions; and environmental, social and governance (ESG) leadership to achieve profitable growth and deliver a sustainable future. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company in the world. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated, science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer applications. Dow operates 104 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $55 billion in 2021. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.
For further information, please contact:
J.D. Sterba
+1 (248) 821-1133
jdsterba@dow.com
Twitter: https://twitter.com/DowNewsroom
Facebook: https://www.facebook.com/dow/
LinkedIn: http://www.linkedin.com/company/dow-chemical
Instagram: http://instagram.com/dow_official
Cautionary Statement about Forward-Looking Statements
Certain statements in this report are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "may," "opportunity," "outlook," "plan," "project," "seek," "should," "strategy," "target," "will," "will be," "will continue," "will likely result," "would" and similar expressions, and variations or negatives of these words or phrases.
Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow's control, which may cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements and speak only as of the date the statements were made. These factors include, but are not limited to: sales of Dow's products; Dow's expenses, future revenues and profitability; the continuing global and regional economic impacts of the coronavirus disease 2019 ("COVID-19") pandemic and other public health-related risks and events on Dow's business; any sanctions, export restrictions, supply chain disruptions or increased economic uncertainty related to the ongoing conflict between Russia and Ukraine; capital requirements and need for and availability of financing; unexpected barriers in the development of technology, including with respect to Dow's contemplated capital and operating projects; Dow's ability to realize its commitment to carbon neutrality on the contemplated timeframe; size of the markets for Dow's products and services and ability to compete in such markets; failure to develop and market new products and optimally manage product life cycles; the rate and degree of market acceptance of Dow's products; significant litigation and environmental matters and related contingencies and unexpected expenses; the success of competing technologies that are or may become available; the ability to protect Dow's intellectual property in the United States and abroad; developments related to contemplated restructuring activities and proposed divestitures or acquisitions such as workforce reduction, manufacturing facility and/or asset closure and related exit and disposal activities, and the benefits and costs associated with each of the foregoing; fluctuations in energy and raw material prices; management of process safety and product stewardship; changes in relationships with Dow's significant customers and suppliers; changes in consumer preferences and demand; changes in laws and regulations, political conditions or industry development; global economic and capital markets conditions, such as inflation, market uncertainty, interest and currency exchange rates, and equity and commodity prices; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war including the ongoing conflict between Russia and Ukraine; weather events and natural disasters; disruptions in Dow's information technology networks and systems; and risks related to Dow's separation from DowDuPont Inc. such as Dow's obligation to indemnify DuPont de Nemours, Inc. and/or Corteva, Inc. for certain liabilities.
Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. A detailed discussion of principal risks and uncertainties which may cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. These are not the only risks and uncertainties that Dow faces. There may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business. If any of those risks or uncertainties develops into an actual event, it could have a material adverse effect on Dow's business. Dow and TDCC assume no obligation to update or revise publicly any forward-looking statements whether because of new information, future events, or otherwise, except as required by securities and other applicable laws.
®TM Trademark of The Dow Chemical Company ("Dow") or an affiliated company of Dow
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| 2022-04-21T11:00:48Z
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MIDLAND, Mich., April 21, 2022 /PRNewswire/ --
- GAAP earnings per share (EPS) was $2.11; Operating EPS¹ was $2.34, compared to $1.36 in the year-ago period. Operating EPS excludes certain items in the quarter, totaling $0.23 per share, primarily due to asset-related charges.
- Net sales were $15.3 billion, up 28% versus the year-ago period, reflecting gains in all operating segments, businesses and regions. Sequentially, net sales were up 6%, driven by gains in Performance Materials & Coatings and Packaging & Specialty Plastics.
- Local price increased 28% versus the year-ago period, with gains in all operating segments, businesses and regions. Sequentially, local price increased 2%, primarily driven by silicones and polyurethanes.
- Volume increased 3% versus the year-ago period, with gains in all operating segments and in the U.S. & Canada and Latin America. Sequentially, volume was also up 5%, reflecting strong demand for silicones and polyethylene applications.
- Equity earnings were $174 million, down $50 million from the year-ago period, primarily driven by impacts from planned maintenance activity at Sadara. Equity earnings were down $50 million from the prior quarter driven by lower polyethylene and MEG margins in Asia Pacific.
- GAAP Net Income was $1.6 billion. Operating EBIT1 was $2.4 billion, up $865 million from the year-ago period with gains in all operating segments. Sequentially, operating EBIT increased 7%, led by improvements in Performance Materials & Coatings and Industrial Intermediates & Infrastructure as higher prices and lower planned maintenance activity more than offset higher raw material and energy costs.
- Cash provided by operating activities – continuing operations was $1.6 billion, up $1.8 billion2 year-over-year due to increased earnings and an elective pension contribution in the year-ago period. Sequentially, cash provided by operating activities decreased $945 million as higher dividends from joint ventures were more than offset by working capital on increased sales and raw material costs. Free cash flow1 was $1.3 billion.
- Returns to shareholders totaled $1.1 billion in the quarter, comprised of $513 million in dividends and $600 million in share repurchases.
SUMMARY FINANCIAL RESULTS
Jim Fitterling, chairman and chief executive officer, commented on the quarter:
"Entering our company's 125th year, Team Dow delivered top- and bottom-line growth sequentially and year-over-year in the first quarter, demonstrating the advantage of our differentiated portfolio, feedstock flexibility and continued focus on disciplined execution. Despite higher energy costs, we captured healthy end-market demand and achieved solid volume growth, price gains and margin expansion.
"In addition, today we published our annual benchmarking that demonstrates Dow delivered on our financial targets with top-quartile EBITDA margins, return on capital, free cash flow yield, shareholder remuneration, and debt reduction. We also recently announced a new $3 billion share repurchase program – a direct result of our performance as well as our balanced and disciplined capital allocation approach."
SEGMENT HIGHLIGHTS
Packaging & Specialty Plastics
Packaging & Specialty Plastics segment net sales in the quarter were $7.6 billion, up 25% versus the year-ago period. Local price increased 24% year-over-year with gains in both businesses and all regions. Continued strong end-market demand drove a 4% year-over-year volume increase, with gains in energy sales, olefins, and polyethylene, primarily in the U.S. & Canada. Currency decreased net sales by 3%. On a sequential basis, the segment delivered a 6% net sales increase, driven by robust demand in both businesses, including polyethylene demand, across industrial and consumer packaging applications.
Equity earnings were $110 million, up $4 million compared to the year-ago period. For the principal joint ventures, gains from increased elastomer margins at the Thai joint ventures were offset by lower integrated polyethylene margins at Sadara and the Kuwait joint ventures. On a sequential basis, equity earnings decreased by $20 million due to higher raw material costs impacting polyethylene margins at the principal joint ventures.
Operating EBIT was $1.2 billion, up $6 million versus the year-ago period, with Op. EBIT margins down 400 basis points year-over-year, as price increases in the U.S. & Canada and Latin America were partly offset by rising raw materials and energy costs in all regions. Sequentially, Op. EBIT was down $208 million and Op. EBIT margins declined by 390 basis points, primarily due to higher raw material and energy costs in Europe.
Packaging and Specialty Plastics business delivered higher net sales versus the year-ago period, led by local price gains in all regions as well as in industrial & consumer packaging and flexible food & beverage packaging applications. Volumes declined slightly year-over-year, as growth in the U.S. & Canada was more than offset by declines in Asia Pacific. Sequentially, the business increased revenue on volume gains in all regions. Price increases in functional polymers were more than offset by price declines in polyethylene.
Hydrocarbons & Energy business delivered a net sales increase compared to the year-ago period, driven primarily by higher local prices in olefins and aromatics. Sequentially, sales increased due to higher olefin volume and price, primarily in Europe, the Middle East, Africa and India.
Industrial Intermediates & Infrastructure
Industrial Intermediates & Infrastructure segment net sales in the quarter were $4.5 billion, up 25% versus the year-ago period. Local price improved 29% year-over-year with gains in both businesses and in all regions. Currency decreased sales by 5%. Volume was up 1% year-over-year as improved supply availability from the impacts of Winter Storm Uri in the prior year were offset by planned maintenance activity at Sadara. On a sequential basis, net sales were down 1%, as local price gains in both businesses were offset by the lower supply availability from Sadara.
Equity earnings were $62 million, down $53 million compared to the year-ago period due to lower supply availability from planned maintenance activity at Sadara. On a sequential basis, equity earnings decreased by $28 million due to lower MEG margins.
Operating EBIT was $661 million, an increase of $335 million compared to the year-ago period, primarily due to strong pricing momentum in both businesses, driving Op. EBIT margins up 560 basis points year-over-year. Sequentially, Op. EBIT was up $66 million, and Op. EBIT margins improved by 150 basis points, as strong prices and lower planned maintenance activity offset pressure from higher raw material and energy costs.
Polyurethanes & Construction Chemicals business delivered higher net sales compared to the year-ago period, driven by local price gains in all regions and across all key value chains. Volume declined year-over-year, primarily due to the lower supply availability from Sadara. Sequentially, net sales declined as local price gains and strong demand for construction and industrial applications were more than offset by the lower supply availability from Sadara due to planned maintenance activity.
Industrial Solutions business delivered increased net sales year-over-year, with local price gains in all regions. Volume also increased globally, driven by strong demand in industrial, agriculture and coatings markets, as well as improved supply availability from the impacts of Winter Storm Uri in the year-ago period. Sequential net sales were flat as local price gains and demand growth in the pharmaceutical, mobility and home and industrial cleaning end-markets were offset by the lower supply availability from Sadara.
Performance Materials & Coatings
Performance Materials & Coatings segment net sales in the quarter were $3 billion, up 44% versus the year-ago period. Local price increased 39% year-over-year, with gains in both businesses and in all regions. Volume increased 8% year-over-year on stronger demand for silicones and coatings applications combined with improved supply availability from the impact of Winter Storm Uri in the year-ago period. Currency decreased net sales by 3%. On a sequential basis, net sales were up 19% with local price gains in both businesses. Volume increased sequentially due to strong consumer demand and increased supply availability of siloxanes upon the completion of planned maintenance activity in the prior quarter.
Operating EBIT was $595 million, compared to $62 million in the year-ago period, as Op. EBIT margins increased 1,660 basis points due to strong price gains and robust demand for both silicones and coatings offerings. Sequentially, Op. EBIT improved $300 million and Op. EBIT margins improved 800 basis points due to local price gains and lower impact from planned maintenance activity.
Consumer Solutions business delivered higher net sales year-over year, with local price gains in all regions and applications. Volume also improved across all regions, driven by improved siloxane supply and strong demand for personal care applications. Sequentially, net sales were up with increases in local price and volume. Improved supply availability of siloxanes versus the prior quarter enabled the business to capture stronger demand across all major end-markets.
Coatings & Performance Monomers business delivered increased net sales compared to the year-ago period, with local price gains in all regions. Volume increased year-over-year on improved supply availability of monomers from the impact of Winter Storm Uri in the year-ago period. Sequentially, the business delivered flat sales as local price gains for architectural coatings were offset by lower monomers volumes due to maintenance activity.
"Looking ahead, we see strong demand across our end-markets," said Fitterling. "While the geopolitical environment remains dynamic, our global scale, cost-advantaged positions, and industry-leading feedstock and derivative flexibility continue to enable resilient financial and operating performance. At the same time, we are advancing our strategy to decarbonize and grow underlying earnings by more than $3 billion in the transition to a more sustainable world. Dow is well-positioned to achieve mid-cycle earnings above pre-pandemic levels as we capture increasing demand for low-carbon, sustainable and circular innovations."
Dow will host a live webcast of its first quarter earnings conference call with investors to discuss its results, business outlook and other matters today at 8:00 a.m. ET. The webcast and slide presentation that accompany the conference call will be posted on the events and presentations page of investors.dow.com.
Dow (NYSE: DOW) combines global breadth; asset integration and scale; focused innovation and materials science expertise; leading business positions; and environmental, social and governance (ESG) leadership to achieve profitable growth and deliver a sustainable future. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company in the world. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated, science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer applications. Dow operates 104 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $55 billion in 2021. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.
Certain statements in this report are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "may," "opportunity," "outlook," "plan," "project," "seek," "should," "strategy," "target," "will," "will be," "will continue," "will likely result," "would" and similar expressions, and variations or negatives of these words or phrases.
Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow's control, which may cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements and speak only as of the date the statements were made. These factors include, but are not limited to: sales of Dow's products; Dow's expenses, future revenues and profitability; the continuing global and regional economic impacts of the coronavirus disease 2019 ("COVID-19") pandemic and other public health-related risks and events on Dow's business; any sanctions, export restrictions, supply chain disruptions or increased economic uncertainty related to the ongoing conflict between Russia and Ukraine; capital requirements and need for and availability of financing; unexpected barriers in the development of technology, including with respect to Dow's contemplated capital and operating projects; Dow's ability to realize its commitment to carbon neutrality on the contemplated timeframe; size of the markets for Dow's products and services and ability to compete in such markets; failure to develop and market new products and optimally manage product life cycles; the rate and degree of market acceptance of Dow's products; significant litigation and environmental matters and related contingencies and unexpected expenses; the success of competing technologies that are or may become available; the ability to protect Dow's intellectual property in the United States and abroad; developments related to contemplated restructuring activities and proposed divestitures or acquisitions such as workforce reduction, manufacturing facility and/or asset closure and related exit and disposal activities, and the benefits and costs associated with each of the foregoing; fluctuations in energy and raw material prices; management of process safety and product stewardship; changes in relationships with Dow's significant customers and suppliers; changes in consumer preferences and demand; changes in laws and regulations, political conditions or industry development; global economic and capital markets conditions, such as inflation, market uncertainty, interest and currency exchange rates, and equity and commodity prices; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war including the ongoing conflict between Russia and Ukraine; weather events and natural disasters; disruptions in Dow's information technology networks and systems; and risks related to Dow's separation from DowDuPont Inc. such as Dow's obligation to indemnify DuPont de Nemours, Inc. and/or Corteva, Inc. for certain liabilities.
Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. A detailed discussion of principal risks and uncertainties which may cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. These are not the only risks and uncertainties that Dow faces. There may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business. If any of those risks or uncertainties develops into an actual event, it could have a material adverse effect on Dow's business. Dow and TDCC assume no obligation to update or revise publicly any forward-looking statements whether because of new information, future events, or otherwise, except as required by securities and other applicable laws.
®TM Trademark of The Dow Chemical Company ("Dow") or an affiliated company of Dow
This earnings release includes information that does not conform to U.S. GAAP and are considered non-GAAP measures. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company's segments, including allocating resources. Dow's management believes that these non-GAAP measures best reflect the ongoing performance of the Company during the periods presented and provide more relevant and meaningful information to investors as they provide insight with respect to ongoing operating results of the Company and a more useful comparison of year-over-year results. These non-GAAP measures supplement the Company's U.S. GAAP disclosures and should not be viewed as alternatives to U.S. GAAP measures of performance. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Non-GAAP measures included in this release are defined below. Reconciliations for these non-GAAP measures to U.S. GAAP are provided in the Selected Financial Information and Non-GAAP Measures section starting on page 11. Dow does not provide forward-looking U.S. GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable U.S. GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of pending litigation, unusual gains and losses, foreign currency exchange gains or losses and potential future asset impairments, as well as discrete taxable events, without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP results for the guidance period.
Operating earnings per share is defined as "Earnings per common share - diluted" excluding the after-tax impact of significant items.
Operating EBIT is defined as earnings (i.e., "Income before income taxes") before interest, excluding the impact of significant items.
Operating EBIT margin is defined as Operating EBIT as a percentage of net sales.
Operating EBITDA is defined as earnings (i.e., "Income before income taxes") before interest, depreciation and amortization, excluding the impact of significant items.
Free cash flow is defined as "Cash provided by (used for) operating activities - continuing operations," less capital expenditures. Under this definition, free cash flow represents the cash generated by the Company from operations after investing in its asset base. Free cash flow, combined with cash balances and other sources of liquidity, represent the cash available to fund obligations and provide returns to shareholders. Free cash flow is an integral financial measure used in the Company's financial planning process.
Cash flow conversion is defined as "Cash provided by operating activities - continuing operations," divided by Operating EBITDA. Management believes cash flow conversion is an important financial metric as it helps the Company determine how efficiently it is converting its earnings into cash flow.
Operating return on capital (ROC) is defined as net operating profit after tax, excluding the impact of significant items, divided by total average capital, also referred to as ROIC.
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| 2022-04-21T11:00:56Z
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DALLAS, April 21, 2022 /PRNewswire/ -- Blue Cross and Blue Shield of Texas (BCBSTX) and Employer Direct Healthcare (EDH) are working collaboratively on additional ways to put clients, their enrollees and families first. BCBSTX and EDH are exploring opportunities to provide self-funded plan sponsors with streamlined integration and onboarding of EDH's solution, SurgeryPlus, with enhanced data feeds and reporting as well as a more integrated member experience.
John Zutter, CEO of Employer Direct Healthcare, commented "we are very excited to be collaborating with BCBSTX to explore opportunities to enhance integration and streamline the member and employer experience."
Jim Springfield, President of Blue Cross and Blue Shield Texas, commented "we're excited to work with EDH to find new ways to continue putting our members first."
About Employer Direct Healthcare and SurgeryPlus®
Employer Direct Healthcare is a market-leading healthcare services business providing high-quality and cost-efficient solutions for self-funded employers and their members. The company's solutions transform healthcare for its members, facilitating access to top-quality care at fair prices nationwide.
Employer Direct Healthcare's first product, SurgeryPlus®, is the market-leading surgical benefit, providing full-service concierge and network services to millions of covered members across hundreds of employers. In 2022, the company will launch a first of its kind, comprehensive end-to-end oncology solution.
For more information and the latest updates about Employer Direct Healthcare, visit EDHC.com and follow us on LinkedIn.
About Blue Cross and Blue Shield of Texas
Blue Cross and Blue Shield of Texas (BCBSTX) – the only statewide, customer-owned health insurer in Texas — is the largest provider of health benefits in the state, working with nearly 80,000 physicians and health care practitioners, and 500 hospitals to serve more than 6 million members in all 254 counties. BCBSTX is a Division of Health Care Service Corporation (HCSC) (which operates Blue Cross and Blue Shield plans in Texas, Illinois, Montana, Oklahoma and New Mexico), the country's largest customer-owned health insurer, and fourth largest health insurer overall. Health Care Service Corporation is a Mutual Legal Reserve Company and an Independent Licensee of the Blue Cross and Blue Shield Association.
Media contact:
Dickon Waterfield
(917) 544-3058
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| 2022-04-21T11:01:03Z
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FiscalNote Will Trade on NYSE Under the Ticker Symbol "NOTE" Upon the Closing of its Proposed Business Combination with Duddell Street Acquisition Corp.
WASHINGTON, April 21, 2022 /PRNewswire/ -- FiscalNote Holdings, Inc., ("FiscalNote"), a leading AI-driven enterprise SaaS company that delivers legal and regulatory data and insights, and Duddell Street Acquisition Corp. ("Duddell Street") (Nasdaq: DSAC), a publicly-traded special purpose acquisition company, today announced their intent to list the Class A common stock of FiscalNote Holdings, Inc. on the New York Stock Exchange ("NYSE") upon the closing of their proposed business combination transaction, expected in the second quarter of this year.
Upon the closing of the proposed transaction, Duddell Street Acquisition Corp. will de-list from the Nasdaq, and the Class A common stock of FiscalNote Holdings Inc. will begin trading on the NYSE under the ticker symbol "NOTE". The listing will be subject to the NYSE's final approval of the application by Duddell Street Acquisition Corp. and FiscalNote to list the shares on the NYSE.
"We are excited to announce our intent to list FiscalNote's stock on the NYSE, and we are honored to join its remarkable roster of globally known brands and industry-leading companies," said Tim Hwang, CEO & Co-founder, FiscalNote. "We believe our proposed transaction with Duddell Street and listing on the NYSE will lower the company's cost of capital and accelerate our ability to drive innovation, execute strategically attractive and value accretive M&A, and enhance our ability to turn data and insights into action for our customers. This is an historic moment for our company, our people, our customers, and our shareholders and marks the beginning of an exciting journey of continued growth, expansion, and innovation for FiscalNote."
"We are excited to welcome FiscalNote to the NYSE," said Lynn Martin, President, NYSE Group. "Given the company's focus on providing its customers with data and insights to minimize risk and capitalize on opportunity, FiscalNote will feel right at home among our community of innovators and disruptors."
"The path to public markets is now one step closer as we reach a key milestone with a home on the NYSE," said Manoj Jain, CEO of Duddell Street Acquisition Corp., and Co-Chief Investment Officer of Maso Capital. "We look forward to partnering with the NYSE and to further collaborations as we execute the business plan and accelerate growth through the platform."
Transaction Details
FiscalNote previously announced plans to become a publicly-traded company on November 8, 2021 through a business combination agreement with Duddell Street Acquisition Corp. (Nasdaq: DSAC). Completion of the proposed business combination is subject to Duddell Street's registration statement on Form S-4 (the "Registration Statement") being declared effective by the Securities & Exchange Commission ("SEC"), the approval of the proposed business combination by Duddell Street's shareholders, and other customary closing conditions. The SEC is continuing the regulatory review process in connection with the Registration Statement. Once it is completed, the parties will seek the required shareholder approvals and proceed to close the proposed business combination, with a target closing date in Q2 of this year.
About FiscalNote
FiscalNote is a leading global technology provider of legal and policy data and insights. By combining AI capabilities, expert analysis, and legislative, regulatory, and geopolitical data, FiscalNote is reinventing the way that organizations minimize risk and capitalize on opportunity. Home to CQ, Roll Call, Oxford Analytica, and VoterVoice, FiscalNote empowers clients worldwide to monitor, manage, and act on the issues that matter most to them. To learn more about FiscalNote and its family of brands, visit FiscalNote.com and follow @FiscalNote.
About Duddell Street Acquisition Corp.
Duddell Street Acquisition Corp. was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Duddell Street is sponsored by Hong Kong-based hedge fund Maso Capital. Since inception, Maso Capital has invested in more than one thousand companies and situations across multiple sectors and geographies. Leveraging its stature and reputation in Hong Kong and its experienced investment team, Maso Capital has had investments in a number of TMT, healthcare, fintech and consumer companies in the region. For more information, please visit DSAC.co.
Contacts:
Media
FiscalNote
Nicholas Graham
press@fiscalnote.com
Investors
ICR, Inc. for FiscalNote
Sean Hannan
IR@fiscalnote.com
Duddell Street Acquisition Corp.
Sam Joshi
IR@masocapital.com
Additional Information and Where to Find It
In connection with its proposed business combination with FiscalNote, Duddell Street Acquisition Corp. (Nasdaq: DSAC) ("Duddell Street") has filed relevant materials with the SEC, including the Registration Statement, which includes a proxy statement/prospectus of Duddell Street, and will file other documents regarding the proposed business combination with the SEC. Duddell Street's shareholders and other interested persons are advised to read the preliminary proxy statement/prospectus and the amendments thereto and, when available, the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed business combination, as these materials will contain important information about FiscalNote, Duddell Street and the proposed business combination. Promptly after the Registration Statement is declared effective by the SEC, Duddell Street will mail the definitive proxy statement/prospectus and a proxy card to each shareholder entitled to vote at the meeting relating to the approval of the business combination and other proposals set forth in the proxy statement/prospectus. Before making any voting or investment decision, investors and shareholders of Duddell Street are urged to carefully read the entire registration statement and proxy statement/prospectus, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed business combination. The documents filed by Duddell Street with the SEC may be obtained free of charge at the SEC's website at www.sec.gov.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Participants in the Solicitation
Duddell Street and its directors and executive officers may be deemed participants in the solicitation of proxies from its shareholders with respect to the business combination. A list of the names of those directors and executive officers and a description of their interests in Duddell Street will be included in the proxy statement/prospectus for the proposed business combination when available at www.sec.gov. Information about Duddell Street's directors and executive officers and their ownership of Duddell Street shares is set forth in Duddell Street's prospectus, dated October 28, 2020. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed business combination when it becomes available. These documents can be obtained free of charge from the source indicated above.
FiscalNote and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Duddell Street in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be included in the proxy statement/prospectus for the proposed business combination.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements about future financial and operating results, plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will," "are expected to," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "pro forma," "outlook" or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding FiscalNote's industry and market sizes, future opportunities for FiscalNote and Duddell Street, FiscalNote's estimated future results and the proposed business combination between Duddell Street and FiscalNote, including pro forma market capitalization, pro forma revenue, the expected transaction and ownership structure and the likelihood, timing and ability of the parties to successfully consummate the proposed transaction. Such forward-looking statements are based upon the current beliefs and expectations of Duddell Street's and FiscalNote's managements and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond Duddell Street's or FiscalNote's control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Except as required by law, Duddell Street and FiscalNote do not undertake any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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| 2022-04-21T11:01:11Z
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This campaign is part of the sustainably crafted rum's pledge to plant one million trees by 2025.
NEW YORK, April 21, 2022 /PRNewswire/ -- To celebrate Earth Month, Flor de Caña, a Carbon Neutral and Fair Trade Certified ultra-premium rum, is joining forces with retailers, bars, restaurants and consumers around the world to launch a year-long, global reforestation campaign that aims to ensure a greener future for generations to come. The sustainably crafted rum brand has already planted over 800,000 trees since 2005 and is well on its way to fulfill its pledge of planting one million trees by 2025.
The campaign titled "Together for a Greener Future", supported by environmental charity One Tree Planted, includes a series of activations in points of sale and initiatives on social media (#TogetherForAGreenerFuture) to raise awareness on the importance of reforestation, as well as tree planting events in various countries throughout the year. Individuals will also be able to support reforestation efforts by donating through Flor de Caña's fundraising page with One Tree Planted, which guarantees that for every dollar donated, one tree will be planted. In turn, Flor de Caña will match all individual donations received during the campaign.
"One Tree Planted is proud to continue our partnership with Flor de Caña, who have supported reforestation projects through unique fundraising campaigns over the years." says Matt Hill, Founder & Chief Environmental Evangelist at One Tree Planted. "As the trees grow, they'll restore soil stability and health, improve water filtration and absorption, mitigate the effects of climate change, improve biodiversity and provide a host of benefits to the local communities".
"As a global leader of sustainability practices within the spirits industry, we are deeply committed to the protection and preservation of the environment," said Mauricio Solórzano, Global Ambassador for Flor de Caña. "Through our partnership with One Tree Planted we're taking our commitment to the environment to the next level and working together to inspire people around the world to get involved in our effort to restore forests and ensure a greener future for generations to come."
The story of Flor de Caña dates back to 1890, when a young Italian adventurer decided to establish a distillery at the base of Nicaragua's tallest and most active volcano, the San Cristóbal. 130 years and five family generations later, the entire production process continues under the supervision of the same family. Flor de Caña rums are distilled with 100% renewable energy and naturally aged for up to 30 years in bourbon barrels without artificial ingredients or added sugar. The brand was awarded "Best Rum Producer of the Year" by the International Wine and Spirit Competition (IWSC) in 2017 due to the quality of its liquid.
Contact: corporatecommunications@flordecana.com
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| 2022-04-21T11:01:18Z
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VAUGHAN, ON, April 21, 2022 /PRNewswire/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL" or the "Company") today announced that registration is now open for the Company's first Investor Day to be held on May 24, 2022, in New York City.
Join members of senior management for a discussion of the Company's growth strategies, capital allocation plan, sustainability initiatives and financial objectives. The presentations will be available by live audio webcast for those unable to attend in person.
Investors and analysts are invited to register for the event by clicking here.
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in more than half of the U.S. states. Across its organization, GFL has a workforce of more than 18,000 employees.
For more information:
Patrick Dovigi
+1 905-326-0101
pdovigi@gflenv.com
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| 2022-04-21T11:01:24Z
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KEYCORP REPORTS FIRST QUARTER 2022 NET INCOME OF $420 MILLION, OR $.45 PER DILUTED COMMON SHARE
Published: Apr. 21, 2022 at 6:30 AM EDT|Updated: 31 minutes ago
Strong loan growth driven by consumer and commercial businesses
Record loan originations from Laurel Road
Net interest income reflects strong loan growth and liquidity deployment
Noninterest income adversely impacted by market conditions late in the quarter
Credit quality remains strong with net charge-offs to average loans of 13 basis points
CLEVELAND, April 21, 2022 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced net income from continuing operations attributable to Key common shareholders of $420 million, or $.45 per diluted common share for the first quarter of 2022. This compared to $601 million, or $.64 per diluted common share, for the fourth quarter of 2021 and $591 million, or $.61 per diluted common share, for the first quarter of 2021.
Our first quarter results reflect the resilience of our distinctive business model, strong risk management, and the impact of dynamic market conditions.
We continue to take market share in both our consumer and commercial businesses, with average loans up 4% quarter-over-quarter. We experienced continued momentum in our consumer business, driven by consumer mortgage, and another record quarter for Laurel Road which generated $820 million of loan originations. Our commercial business delivered broad-based growth across our platform. Our strong loan pipelines position us well for continued growth in 2022. Market uncertainty, resulted in lower-than-expected fee income, which impacted our investment banking business and drove market related adjustments.
The quality of our balance sheet continues to be a strength, as we focus on delivering sound, profitable growth. Credit quality remained strong this quarter, with lower nonperforming loans and net charge-offs as a percent of average loans of 13 basis points.
We remain committed to growing our businesses, making progress against each of our long-term financial targets, and delivering shareholder value through all markets and economic conditions.
- Chris Gorman, Chairman and CEO
Taxable-equivalent net interest income was $1.0 billion for the first quarter of 2022 and the net interest margin was 2.46%. Compared to the first quarter of 2021, net interest income increased $8 million, while the net interest margin decreased by 15 basis points. Net interest income and the net interest margin benefited from higher earning asset balances and a favorable balance sheet mix. Net interest income and the net interest margin were negatively impacted by lower reinvestment yields, the exit of the indirect auto loan portfolio, and lower loan fees from the Paycheck Protection Program ("PPP").
Compared to the fourth quarter of 2021, taxable-equivalent net interest income decreased by $18 million and the net interest margin increased by two basis points. Net interest income was negatively impacted by two fewer days in the first quarter of 2022. Additionally, net interest income and the net interest margin benefited from a favorable earning asset mix, including the deployment of liquidity into loans and higher-yielding investments and were negatively impacted by lower loan fees related to the PPP.
Compared to the first quarter of 2021, noninterest income decreased by $62 million. The decrease was primarily driven by other income, down $55 million, reflecting market related adjustments. Other drivers for the decrease include consumer mortgage income and cards and payments income, down $26 million and $25 million, respectively, reflecting lower gain on sale margins and lower levels of prepaid card activity. Partially offsetting the decrease was a $26 million increase in corporate services income, driven by higher derivatives trading income and an $18 million increase in service charges on deposit accounts.
Compared to the fourth quarter of 2021, noninterest income decreased by $233 million. The primary driver was investment banking and debt placement fees, which decreased $160 million, reflecting seasonality and slowing capital markets activity late in the quarter. Other income decreased $62 million, reflecting market related adjustments. Partially offsetting the decrease was a $17 million increase in corporate services income, driven by higher derivatives trading income.
Key's noninterest expense was $1.1 billion for the first quarter of 2022, a decrease of $1 million from the year-ago period. Nonpersonnel expense decreased $7 million, reflecting a broad-based decline across several expense categories. Personnel expense increased $6 million, driven by higher salaries from merit increases and technology contract labor, partially offset by lower incentive compensation and employee benefits expense.
Compared to the fourth quarter of 2021, noninterest expense decreased $100 million. The decrease was primarily related to a $56 million decrease in nonpersonnel expense, reflecting lower professional fees as well as lower other expense. Additionally, personnel expense decreased $44 million, primarily driven by lower incentive compensation as a result of lower investment banking and debt placement fees.
Average loans were $103.8 billion for the first quarter of 2022, an increase of $3.0 billion compared to the first quarter of 2021. Consumer loans increased $2.3 billion, reflecting strength from Key's consumer mortgage business and Laurel Road, partly offset by the sale of the indirect auto loan portfolio. Additionally, commercial loans increased by $701 million, reflecting strength in commercial mortgage real estate loans and core commercial and industrial loans, partially offset by a decline in PPP balances.
Compared to the fourth quarter of 2021, average loans increased by $4.4 billion. Commercial loans increased $2.9 billion, reflecting strength in commercial and industrial loans and commercial mortgage real estate loans, partially offset by a decline in PPP balances. Consumer loans increased $1.5 billion, driven by continued strength in Key's consumer mortgage business and record Laurel Road originations.
Average deposits totaled $150.2 billion for the first quarter of 2022, an increase of $12.4 billion compared to the year-ago quarter. The increase reflects growth from consumer and commercial relationships, including higher commercial escrow and retail deposits, partially offset by a decline in time deposits.
Compared to the fourth quarter of 2021, average deposits decreased by $842 million, driven by lower levels of commercial deposits, partly offset by seasonal retail deposit inflows.
Key's provision for credit losses was $83 million, compared to a net benefit of $93 million in the first quarter of 2021 and provision of $4 million in the fourth quarter of 2021. The increase from prior periods reflects the uncertain economic outlook arising from the Ukraine conflict, risks associated with higher inflation, and loan growth.
Net loan charge-offs for the first quarter of 2022 totaled $33 million, or .13% of average total loans. These results compare to $114 million, or .46%, for the first quarter of 2021 and $19 million, or .08%, for the fourth quarter of 2021. Key's allowance for credit losses was $1.3 billion, or 1.19% of total period-end loans at March 31, 2022, compared to 1.60% at March 31, 2021, and 1.20% at December 31, 2021.
At March 31, 2022, Key's nonperforming loans totaled $439 million, which represented .41% of period-end portfolio loans. These results compare to .72% at March 31, 2021, and .45% at December 31, 2021. Nonperforming assets at March 31, 2022, totaled $467 million, and represented .44% of period-end portfolio loans and OREO and other nonperforming assets. These results compare to .78% at March 31, 2021, and .48% at December 31, 2021.
CAPITAL
Key's estimated risk-based capital ratios included in the following table continued to exceed all "well-capitalized" regulatory benchmarks at March 31, 2022.
Key's capital position remained strong in the first quarter of 2022. As shown in the preceding table, at March 31, 2022, Key's estimated Common Equity Tier 1 and Tier 1 risk-based capital ratios stood at 9.4% and 10.7%, respectively. Key's tangible common equity ratio was 6.0% at March 31, 2022.
Key elected the CECL phase-in option provided by regulatory guidance which delayed for two years the estimated impact of CECL on regulatory capital and phases it in over three years beginning in 2022. Effective for the first quarter 2022, Key is now in the three-year transition period, with the full impact of the CECL standard being phased-in to regulatory capital over the next three years. On a fully phased-in basis, Key's Common Equity Tier 1 ratio would be reduced by 13 basis points.
During the first quarter of 2022, Key declared a dividend of $.195 per common share.
LINE OF BUSINESS RESULTS
The following table shows the contribution made by each major business segment to Key's taxable-equivalent revenue from continuing operations and income (loss) from continuing operations attributable to Key for the periods presented. For more detailed financial information pertaining to each business segment, see the tables at the end of this release.
Consumer Bank Summary of Operations (1Q22 vs. 1Q21)
Net income attributable to Key of $70 million for the first quarter of 2022, compared to $217 million for the year-ago quarter
Taxable-equivalent net interest income decreased by $64 million, compared to the first quarter of 2021, related to the sale of the indirect auto portfolio, partially offset by strong consumer mortgage and Laurel Road balance sheet growth
Average loans and leases decreased $612 million, or 1.6%, from the first quarter of 2021, driven by the sale of the indirect auto loan portfolio, partially offset by growth in consumer mortgage and Laurel Road
Average deposits increased $6.4 billion, or 7.6%, from the first quarter of 2021, driven by relationship growth and higher retail deposits
Provision for credit losses increased $66 million, compared to the first quarter of 2021, driven by loan growth and uncertainty in the economic environment
Noninterest income decreased $1 million, or 0.4%, from the year-ago quarter, driven by a decrease in consumer mortgage income, reflecting lower gain on sale margins. The decrease was partially offset by an increase in service charges on deposit accounts and trust and investment services income
Noninterest expense increased $62 million, or 10.3%, from the year-ago quarter, driven by an increased level of digital investments and an increase in employee compensation and benefits related expenses
Commercial Bank Summary of Operations (1Q22 vs. 1Q21)
Net income attributable to Key of $283 million for the first quarter of 2022, compared to $383 million for the year-ago quarter
Taxable-equivalent net interest income increased by $4 million, compared to the first quarter of 2021, reflecting core loan growth in commercial and industrial and commercial mortgage real estate loans, partially offset by lower loan fees from the PPP
Average loan and lease balances increased $3.5 billion, compared to the first quarter of 2021, reflecting growth in core commercial and industrial and commercial mortgage real estate loans, partially offset by a decline in PPP balances
Average deposit balances increased $5.4 billion, or 10.4%, compared to the first quarter of 2021, driven by growth in targeted relationships and higher commercial escrow deposits
Provision for credit losses increased $108 million, compared to the first quarter of 2021, driven by uncertainty in the economic environment
Noninterest income decreased $52 million from the year-ago quarter, largely driven by lower cards and payments income from lower prepaid card activity and other income reflecting market related adjustments
Noninterest expense decreased by $26 million, or 5.9%, from the first quarter of 2021, driven by lower operating lease expense and lower incentive compensation
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KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $181.2 billion at March 31, 2022.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
Notes to Editors:
A live Internet broadcast of KeyCorp's conference call to discuss quarterly results and currently anticipated earnings trends and to answer analysts' questions can be accessed through the Investor Relations section at https://www.key.com/irat 8:00 a.m. ET, on April 21, 2022. A replay of the call will be available through April 30, 2022.
For up-to-date company information, media contacts, and facts and figures about Key's lines of business, visit our Media Newsroom at https://www.key.com/newsroom.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
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| 2022-04-21T11:01:31Z
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Solar Design and Installation for Coastal Beverage Company Earn Prestigious Award
WILMINGTON, N.C., April 21, 2022 /PRNewswire/ -- Local solar installation company, Cape Fear Solar Systems was selected as SunPower's regional commercial Intelegant Award winner for their outstanding solar panel design and installation at Coastal Beverage Company. The SunPower Intelegant Award is a portmanteau combining "intelligent" and "elegant" to represent SunPower's smart and sleek solar solutions – defines the award recognizing solar installation projects that exemplify the company's commitment to outstanding system aesthetics, quality, performance, and customer satisfaction. Winners were selected from SunPower's network of more than 800 small and medium-sized solar businesses spanning across the U.S.
The solar panels installed at Coastal Beverage Company help reduce operational costs, meet company environmental goals, and the company was able to take advantage of current tax incentives. Coastal Beverage Company has the largest single rooftop solar project in Wilmington: a 460-kilowatt Helix Roof.
"We are truly honored to have received this award and extremely proud of the solar system we designed and installed for Coastal Beverage Company. They were awesome to work with and really understood the financial and environmental benefits solar offers," stated Robert Parker, senior project manager at Cape Fear Solar Systems. Parker oversaw this commercial solar project from design to installation.
"Cape Fear Solar Systems has been an amazing company to partner with on this solar project. Robert Parker and his team made what I thought would be a difficult project seem flawless. From start to finish they handled the entire project with great communication and professionalism. We look forward to working with Cape Fear Solar Systems on our next project," explained Robert Kight, facilities manager at Coastal Beverage Company.
"We have been seeing a lot of interest from businesses this year—looking into energy solutions. Companies such as Coastal Beverage Company are leading the way and we are excited to help more businesses utilize solar energy to impact their bottom line and meet environmental goals," Parker concluded.
Cape Fear Solar Systems has been empowering home and business owners with energy independence for 15 years throughout Southeastern, North Carolina.
About Cape Fear Solar Systems, LLC
Cape Fear Solar Systems is currently ranked as the number one installer in Southeastern, North Carolina by Solar Power World. Established in 2007, the company has designed and installed nearly 3,500 local solar systems to date. Cape Fear Solar's pride is in its team, providing the highest quality of craftsmanship, products, and material. Additionally, customers receive unlimited post-installation support. Cape Fear Solar offers turnkey energy systems such as photovoltaic (solar electric) panels, home batteries, and electric vehicle charging stations for residential and commercial customers. To learn more about Cape Fear Solar visit www.CapeFearSolarSystems.com.
About Coastal Beverage Company, Inc.
Coastal Beverage Company is a leading beverage distributor and masters of their craft and fate. Their cultural manifesto is simple: Integrity, adventure, and a life lived responsibly. This is the relentless pursuit of excellence they strive for every day. The only prohibition they support is that against mediocrity, which is why at the end of the day, every beverage wants to be a Coastal Beverage. To learn more about Coastal Beverage Company visit www.coastal-bev.com.
About SunPower
Headquartered in California's Silicon Valley, SunPower (NASDAQ:SPWR) is a leading Distributed Generation Storage and Energy Services provider in North America. For more information, visit www.sunpower.com.
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| 2022-04-21T11:01:38Z
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Quest Diagnostics Reports First Quarter 2022 Financial Results; Raises Guidance for Full Year 2022
Published: Apr. 21, 2022 at 6:45 AM EDT|Updated: 16 minutes ago
First quarter revenues of $2.61 billion, down 4.0% from 2021
First quarter reported diluted earnings per share ("EPS") of $2.92, down 15.6% from 2021; and adjusted diluted EPS of $3.22, down 14.4% from 2021
Base business revenues of $2.01 billion, up 6.3% from 2021
Full year 2022 reported diluted EPS now expected to be between $7.88 and $8.38; and adjusted diluted EPS expected to be between $9.00 and $9.50
SECAUCUS, N.J., April 21, 2022 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today financial results for the first quarter ended March 31, 2022.
"We're off to a good start in 2022, as we drove strong year-over-year growth in our base business, which excludes COVID-19 testing," said Steve Rusckowski, Chairman, CEO and President. "COVID-19 volumes remained strong early in the quarter and decreased in February and March, in line with the market. We continue to make investments to further accelerate growth in the base business, while our efforts to improve productivity are helping us to offset inflationary pressures. Based on our strong performance in the quarter and our expectations for the remainder of 2022 we have raised our full year guidance."
Updated Guidance for Full Year 2022
The company raises its Full Year 2022 guidance as follows:
Note on Non-GAAP Financial Measures
As used in this press release the term "reported" refers to measures under accounting principles generally accepted in the United States ("GAAP"). The term "adjusted" refers to non-GAAP operating performance measures that exclude special items such as restructuring and integration charges, certain financial impacts resulting from the COVID-19 pandemic, amortization expense, excess tax benefits ("ETB") associated with stock-based compensation, costs associated with donations, contributions, and other financial support through Quest for Health Equity (our initiative with the Quest Diagnostics Foundation to reduce health disparities in underserved communities), gains and losses associated with changes in the carrying value of our strategic investments, and other items.
Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures determined under GAAP. Management may use these non-GAAP measures to evaluate our performance period over period and relative to competitors, to analyze the underlying trends in our business, to establish operational budgets and forecasts and for incentive compensation purposes. We believe that these non-GAAP measures are useful to investors and analysts to evaluate our performance period over period and relative to competitors, as well as to analyze the underlying trends in our business and to assess our performance. The additional tables attached below include reconciliations of non-GAAP adjusted measures to GAAP measures.
Conference Call Information
Quest Diagnostics will hold its quarterly conference call to discuss financial results beginning at 8:30 a.m. Eastern Time today. The conference call can be accessed by dialing 888-455-0391 within the U.S. and Canada, or 773-756-0467 internationally, passcode: 7895081; or via live webcast on our website at www.QuestDiagnostics.com/investor. We suggest participants dial in approximately 10 minutes before the call.
A replay of the call may be accessed online at www.QuestDiagnostics.com/investor or, from approximately 10:30 a.m. Eastern Time on April 21, 2022 until midnight Eastern Time on May 5, 2022, by phone at 800-583-8095 for domestic callers or 203-369-3815 for international callers. Anyone listening to the call is encouraged to read our periodic reports, on file with the Securities and Exchange Commission, including the discussion of risk factors and historical results of operations and financial condition in those reports.
About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our nearly 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com.
Forward Looking Statements
The statements in this press release which are not historical facts may be forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, impacts of the COVID-19 pandemic and measures taken in response, adverse results from pending or future government investigations, lawsuits or private actions, the competitive environment, the complexity of billing, reimbursement and revenue recognition for clinical laboratory testing, changes in government regulations, changing relationships with customers, payers, suppliers or strategic partners and other factors discussed in the company's most recently filed Annual Report on Form 10-K and in any of the company's subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including those discussed in the "Business," "Risk Factors," "Cautionary Factors that May Affect Future Results" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of those reports.
This earnings release, including the attached financial tables, is available online in the Newsroom section at www.QuestDiagnostics.com.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
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| 2022-04-21T11:01:45Z
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London Creative PR Shop Expands to Brooklyn
NEW YORK, April 21, 2022 /PRNewswire/ -- The most creatively awarded PR agency in the UK, The Romans, has opened its first overseas office in Brooklyn, New York. The office will be led by newly recruited Partner and Executive Vice President, Sarah Jenkins, formerly of experiential marketing agency NVE and previously Senior Vice President at BCW, also in New York.
As a widely celebrated global agency, The Romans holds a strong roster of clients within various sectors including Twitter, Dove, Ben & Jerry's, Duolingo, Method, Ecover, WWE and Formula E and has recently added a Sports & Entertainment division to their offering. Global advertising agency, Mother, has a minority stake in the business and The Romans will be sharing its US Brooklyn home.
Jenkins brings nearly two decades of experience at top-tier agencies, working across a stellar client portfolio with brands including Facebook, Apple, Spotify, AB InBev, Diageo, Procter & Gamble, Colgate-Palmolive, Mondelez International, The Bill and Melinda Gates Foundation and Chipotle. Under her direction at The Romans, the New York office has already signed on clients within the tech and retail spaces.
At NVE, a leading experiential agency, she headed up the Account Services department and at BCW Global, she worked closely with the agency's Polycultural Unit, which specialized in DE&I campaigns and initiatives, while serving on the Brand Solutions team. In her new role at The Romans, Jenkins will report directly to CEO Joe Mackay-Sinclair, who will divide his time between London and New York.
Speaking of her new role, Jenkins said, "The Romans was created because they were bored of boring PR and I share the same sentiment. U.S. clients today demand and deserve more. They want teams that operate with agility and deliver fresh, disruptive thinking dictated by trends, and that just so happens to be The Romans' superpower. In collaboration with Joe and the Mother team, we're growing the U.S. offering to deliver bold work powered by a diverse team of culture-obsessed communications experts."
Joe Mackay-Sinclair, CEO of The Romans added: "We've always prided ourselves on caring more about our people than our profit. So, when it came to launching in the US, we weren't waiting to find the right business case, we were waiting to find the right business leader. As we continue to grow our global footprint, we're looking for leaders just like SJ: compassionate, creative and commercial, to ensure our values and culture continue to live up to the same exacting standards of our output."
About The Romans
The Romans has been named UK Agency of The Year at a major awards show every year for the past five years, and is currently Campaign's PR Agency of The Year and PRovoke Media's Global Consumer Agency of The Year, and picked up multiple awards at the 2021 UK PR Week Awards. They also recently secured the Best Global Consumer Agency award at the 2022 Sabre Awards. Recent agency campaigns include releasing George Orwell's 1984 as 2021 for cybersecurity business Avast, to shine a light on the dangers of online surveillance; creating a fitness program to help those fasting during the holy month of Ramadan; working with the Mayor of London to reopen the city to the world, post COVID; and launching a livestreamed comedy club for Twitter to support viewer's mental health during the pandemic. For more information, visit www.wearetheromans.com.
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| 2022-04-21T11:01:52Z
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VANCOUVER, BC, April 21, 2022 /PRNewswire/ - RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYA) ("RYU" or the "Company"), creator of award-winning urban athletic apparel, is pleased to announce it has brought Customer Care in-house to be run from its flagship Vancouver retail location on West 4th. Effective March 30th, what was previously outsourced will now be handled by a team of RYU employees trained in customer service, raising the bar on customer care and accountability.
Overseeing this new internal department will be Customer Care Lead, Tiffany Nguyen, previously from LuluLemom (NASDAQ:LULU) who brings many years of retail management and customer service experience to the role. To provide each customer with more personalized attention, each support ticket will be routed to an RYU employee with first-hand knowledge of company policies and products.
The goal of this new department is to extend the company's legendary in-store service to their online support, which aligns with their marketing strategy of creating more synergy between the online and offline shopping experience. Customers who have a positive experience, especially when reaching out to the support team, will foster brand loyalty and generate positive word-of-mouth.
The company is taking a phased approach to ensure a smooth transition, focused on intentional listening, curiosity and urgency:
Phase 1 will focus on team training to improve the quality of the resolution (vs. closing cases as quickly as possible). Protocols for challenging areas will also be addressed. Loop, a Shopify integrated platform, will be implemented to automate returns and exchanges.
Phase 2 will focus on closing benchmarks and goal setting to continually improving performance based on the standards set in phase 1.
Phase 3 will include rolling out the new live chat function, making response times immediate so customers can potentially receive assistance in real time.
"Bringing Customer Care under our roof will allow us total control over the experience, providing a much higher level of service to our customers," says RYU CEO Cesare Fazari. "Our West 4th team is known for their impeccable sales and service culture, so it made sense to place it in their hands. This is yet another strategic move to bridge the gap between online and in-store while building and strengthening RYU brand loyalty."
RYU Apparel (TSXV: RYU, OTCQB: RYPPF), or Respect Your Universe, is an award winning urban athletic apparel and accessories brand engineered for active lifestyles. Designed without compromise for fit, comfort, and durability, RYU exists to facilitate optimal human performance. For more information, please visit the RYU website at: http://ryu.com
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This news release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of RYU. There are numerous risks and uncertainties that could cause actual results and RYU's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions resulting in the inability of RYU to raise necessary financing required to enter and make payments under the proposed definitive agreements; (ii) the inability of RYU to obtain any necessary approvals in respect of the proposed agreements, including approvals necessary for the issuance of the RSU's; and (iii) inability to restructure and transform its business as required. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, RYU does not intend to update these forward-looking statements.
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| 2022-04-21T11:01:58Z
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The Advisors, Associates and Accounts Have Successfully Completed the Transition to SageView
NEWPORT BEACH, Calif., April 21, 2022 /PRNewswire/ -- SageView Advisory Group ("SageView"), one of the nation's leading independent RIA firms, today announced it completed the acquisition of Capital One's $900 million wealth management business with the advisors, associates and accounts successfully completing the transition to SageView.
Capital One Investing, a direct subsidiary of Capital One Financial Corporation, was an SEC-registered investment adviser that offered portfolio management and financial planning services to clients. The advisors and client support teams became SageView employees as part of this transaction and will continue to work remotely from their homes in Florida, Maryland, New York, Oklahoma, Tennessee, Texas and Virginia.
Randy Long, SageView Founder and Managing Principal, said, "We are thrilled to have completed this transaction and welcome so many talented professionals from around the country to the SageView family. Thanks to our incredible team and support from our private-equity partners at Aquiline, we will continue to execute our growth strategy that builds upon our historic focus on financial wellness and retirement plan support as we enhance our capabilities and expertise as a wealth management solutions provider of choice."
SageView entered into a definitive agreement with Capital One in December 2021. Bryan Cave Leighton Paisner LLP served as legal advisor to SageView on the transaction. Centerview Partners served as financial advisor to Capital One and Wachtell, Lipton, Rosen & Katz served as legal advisor to Capital One on the transaction.
About SageView Advisory Group
SageView Advisory Group is an SEC-Registered Investment Advisory firm (RIA) serving retirement plan sponsors and individuals throughout the United States since 1989. SageView advises on 401(k), 403(b), 457, defined benefit and deferred compensation plans, and provides comprehensive wealth management services to individuals and families. SageView is headquartered in Newport Beach, California, and has more than 30 offices nationwide.
SageView Advisory Group, LLC is a Registered Investment Advisor. Advisory services are only offered to clients or prospective clients where SageView Advisory Group, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future results. No advice may be rendered by SageView Advisory Group, LLC unless a client service agreement is in place.
For more information about SageView, visit www.sageviewadvisory.com or call (800) 814-8742.
Contact: Donald Cutler or Elizabeth Shim
Haven Tower Group
424 317 4864 or 424 317 4861
dcutler@haventower.com or eshim@haventower.com
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https://www.whsv.com/prnewswire/2022/04/21/sageview-closes-900-million-capital-one-investing-acquisition/
| 2022-04-21T11:02:07Z
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Innovative composite material offers braking performance and comfort in one concept to meet changing powertrain requirements
LAKE FOREST, Ill., April 21, 2022 /PRNewswire/ -- Leveraging its comprehensive material science expertise, Tenneco (NYSE: TEN) is introducing advanced OE hybrid friction material composites that simultaneously serve braking performance and comfort requirements in both internal combustion engine (ICE) and electric vehicles (EVs). The innovative new hybrid friction material combines the advantages of low steel (LS) and non-asbestos-organic (NAO) composites in one concept for brake pads.
LS materials offer high temperature braking performance and have the unique ability to remove disc corrosion. NAO materials enable good NVH performance and low brake dust contamination. Tenneco's unique hybrid composite material is expected to cover a range of different market demands with a single approach and is particularly suited to the growing range of electric and electrified vehicles.
"I am proud that Tenneco continues its track record of bringing innovative friction materials early to market," said Neville Rudd, Group Vice President and General Manager, Tenneco Braking. In 2014, our team was one of the first to introduce copper-free braking materials for light vehicles, well ahead of industry regulation. "We see strong potential in our new hybrid friction material composites that enable us to offer outstanding braking solutions for various customer demands, including in the growing e-mobility segment. This expands and diversifies our product portfolio and strengthens our ability to deliver solutions for all our customers, regardless of powertrain strategy."
Hybrid friction materials: Portfolio diversification in a demanding and changing market environment
While the braking system in traditional powertrains works to provide appropriate deceleration and short stopping distances, battery-electric vehicles, hybrid and plug-in-hybrid vehicles are mainly decelerated by recuperation, largely using the electric motor. When brakes are applied, silent braking performance is key to driver and passenger comfort as there is no engine noise. Reduced use of the brakes can also result in rotor corrosion and rust on the brake discs, which needs to be removed quickly to ensure proper braking performance. Additionally, there has to be sufficient friction power available for emergency braking purposes to ensure short stopping distances to comply with safety requirements.
Holger Schaus, Vice President Global Engineering, Tenneco Braking, added: "We are working closely with OEMs and Tier 1 braking suppliers to match specific requirements and help ensure best-possible performance and comfort with our newly developed advanced hybrid friction materials. While low steel and non-asbestos-organic composites feature different tribology regarding adhesion and abrasion, our comprehensive experience in dedicated material formulations and deep understanding of related science enable us to overcome challenges in this new field and develop advanced solutions that cover a broad range of technical requirements."
The new hybrid friction material is in series production at Tenneco´s OE Braking facility in Chongqing, China. Several projects are in the testing and evaluation phase in Europe.
About Tenneco
Tenneco (NYSE: TEN) is one of the world's leading designers, manufacturers and marketers of automotive products for original equipment and aftermarket customers, with full year 2021 revenues of $18 billion and approximately 71,000 team members working at more than 260 sites worldwide. Through our four business groups, Motorparts, Performance Solutions, Clean Air and Powertrain, Tenneco is driving advancements in global mobility by delivering technology solutions for diversified global markets, including light vehicle, commercial truck, off-highway, industrial, motorsport and the aftermarket.
Visit www.tenneco.com to learn more.
Safe Harbor
This release contains forward-looking statements. These forward-looking statements include, among others, statements relating to our plans to offer products and advance projects to meet changing powertrain requirements. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements, including the possibility that Tenneco may not progress or execute on projects to meet changing powertrain requirements; the possibility that Tenneco may not achieve efficiencies in internal combustion engines or electric vehicles; as well as the risk factors and cautionary statements included in Tenneco's periodic and current reports (Forms 10-K, 10-Q and 8-K) filed from time to time with the SEC. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Unless otherwise indicated, the forward-looking statements in this release are made as of the date of this communication, and, except as required by law, Tenneco does not undertake any obligation, and disclaims any obligation, to publicly disclose revisions or updates to any forward-looking statements. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its annual report on Form 10-K for the year ended December 31, 2021.
In addition, please see Tenneco's press release issued on February 23, 2022 for factors that could cause Tenneco's future performance to vary from the expectations expressed or implied by the forward-looking statements herein and for certain reconciliations of GAAP to non-GAAP results.
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| 2022-04-21T11:02:13Z
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The first-of-its-kind monthly index tracks which brands and retailers have launched resale programs and their potential impact on the planet
OAKLAND, Calif., April 21, 2022 /PRNewswire/ -- thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today announced the Recommerce 100, a comprehensive review of brands and retailers with dedicated resale programs. The monthly index, conducted by thredUP's resale analysts, tracks brands' adoption of resale and top brands' estimated resale shop size with a focus on fashion brands and retailers who sell their own brand's pre-owned products online in the U.S. It measures year-over-year (YoY) growth in the number of resale shops brands are launching and includes the number of resale listings in each brand's resale shop.
"At the current pace, the number of new resale shops launched in 2022 is expected to exceed the number of all other resale shops launched to-date," said James Reinhart, CEO of thredUP. "The acceleration of resale adoption is a positive signal, but for the industry to make a significant impact will require a more meaningful investment from participating brands and retailers. The Recommerce 100 aims to shed light on resale shop penetration and recognize the brands making the biggest impact through resale."
Notable findings from the March 2022 Recommerce 100 include:
- Resale adoption among brands and retailers is accelerating.
- Small brands are demonstrating leadership in resale.
- Brands are barely scratching the surface of recommerce's potential impact.
Top 10 brands with the most listings include:
- Eileen Fisher
- Tea Collection
- Lululemon
- REI
- Patagonia
- NATION LTD
- Michael Stars
- Kut from the Kloth
- Levi's
- Madewell
Resale is expected to grow 11 times faster than the broader retail clothing sector by 2025, and 1 in 3 retail executives say resale is becoming table stakes for retailers, according to thredUP's 2021 Resale Report. The Recommerce 100 will be updated on a monthly basis, with the next update in May. For more information about how thredUP's Resale-as-a-Service enables brands and retailers to deliver quality and seamless resale experiences to their customers, visit raas.thredup.com.
Recommerce 100 Methodology
The Recommerce 100 is compiled from publicly available information to identify fashion brands selling their own brand's pre-owned products online solely to US shoppers. Only resale listings that are available from a brand's e-commerce site are counted towards that brand. Listing count includes listings managed by the brand, as well as listings by independent sellers (commonly referred to as peer-to-peer selling). A count of listings was completed between March 18 and March 21, 2022. Listing count either reflects 1) the stated number of total results commonly found at the top of the first product listing page, or 2) if results are not featured on the product listing page, a manual count of all listings. Listing count is intended to be directionally representative of the size of a brand's resale shop at a given time. There is no guarantee that our listing count is exact given the dynamic nature of e-commerce listings, sales, returns, as well as site and user experience factors. Listing counts do not include listings on third-party marketplaces (examples include thredup.com, therealreal.com, poshmark.com). thredUP Resale-as-a-Service™ clients are counted among the brands and retailers with Resale Shops or Take back-only programs (e.g. Nation LTD, Michael Stars, Kut from the Kloth and Madewell). We've found 41 resale shops to date, but aspire to reach 100 as we update monthly—check back soon!
Resale shop launch year and the presence of a branded take back program are compiled based on publicly available information from sources including statements on brand websites, media coverage, brand social media posts or inquiries to brands' customer service.
Estimated resale shop penetration is modeled using publicly available information on brand annual revenue, listing counts (see above listing count methodology) and a survey of listing prices.
Published March 2022
Disclaimer
The Recommerce 100 contains estimates, based on publicly available information as of the published date of data collection expressed in the Methodology, and therefore involves a number of assumptions and limitations. thredUP has not independently verified the publicly available information and cannot guarantee accuracy or completeness of the information. Resale shop listings, resale shop launch year, estimated resale sales value as a percent of brands' total publicly stated revenue and the presence of an evergreen clothing takeback program (for recycling, donation or resale) are therefore subject to a high degree of uncertainty, especially as resale is a new and rapidly changing segment. These and other factors could cause actual numbers to differ materially from those expressed. We do not guarantee that the Recommerce 100 includes every fashion brand selling its own pre-owned products online to US shoppers.
Except as required by law, thredUP assumes no obligation to update any report after the published date of data collection. thredUP intends to publish the Recommerce 100 on a monthly basis.
About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for women's and kids' apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP's Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 125 million unique secondhand items from 35,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.
Forward Looking Statements
This release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "predict" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Except as required by law, thredUP has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.
Contacts
Press
media@thredup.com
Resale-as-a-Service
raas@thredup.com
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| 2022-04-21T11:02:20Z
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SUZHOU, China, April 21, 2022 /PRNewswire/ -- Transcenta Holding Limited ("Transcenta") (HKEX: 06628), a clinical stage biopharmaceutical company with fully-integrated capabilities in discovery, research, development and manufacturing of antibody-based therapeutics, announces that HJB (Hangzhou) Co., Ltd. (the "HJB"), a wholly-owned subsidiary of the Company, has successfully passed the audit of European Union qualified person on April 13, and an QP Declaration has been issued on April 21, 2022.
TST001 is one of the most advanced antibody therapeutics targeting Claudin18.2 being developed globally. The audit is part of the preparation for a global phase III clinical trial application of TST001, which will include EU region, and subsequently for the commercialization of TST001 globally. An experienced QP auditor conducted a comprehensive, systematic and in-depth inspection of quality assurance system, production and material management, equipment and facility management, QC laboratory, packaging and labelling in accordance with the regulations of EudraLex Volume 4 (EU GMP) and ICH guidance. Due to COVID-19, the EU QP audit was conducted by remote video.
There were no critical or major deficiencies in this audit and the QP highly recognized the robustness and maturity of Transcenta's Quality Management System to ensure compliance of GMP requirements, the quality of procedures and records and comprehensive risk assessment and mitigation.
"Passing QP audit successfully is an important step for EU submission. It demonstrates Transcenta's full capability in manufacturing and delivering products that meet requirements of relevant regulations of EU GMP (Good Manufacturing Practice), and is qualified to provide clinical supply materials for trials conducted in EU market. This is noticeably important for TST001 which is advancing its global clinical strategy rapidly." said Dr. Frank Ye, Transcenta's EVP and Chief Operating Officer.
About TST001
TST001 is a high affinity humanized anti-Claudin18.2 monoclonal antibody with enhanced antibody-dependent cellular cytotoxicity (ADCC) and complement-dependent cytotoxicity (CDC) activities and potent anti-tumor activities in tumor xenograft models. TST001 is the second Claudin18.2 targeting antibody therapeutic candidate being developed globally. TST001 is generated using Transcenta's Immune Tolerance Breaking Technology (IMTB) platform. TST001 kills Claudin18.2 expressing tumor cells by mechanisms of antibody-dependent cellular cytotoxicity (ADCC) and complement-dependent cytotoxicity (CDC). Leveraging advanced bioprocessing technology, the fucose content of TST001 was significantly reduced during the production, which further enhanced NK cells mediated ADCC activity of TST001. Clinical trials for TST001 are ongoing in China and US (NCT04396821, NCT04495296/CTR20201281). TST001 was granted Orphan Drug Designation in the US by FDA for the treatment of patients with gastric cancer or gastroesophageal junction (GC/GEJ).
About Transcenta Holding Limited
Transcenta (HKEX: 06628) is a clinical stage biopharmaceutical company with fully integrated capabilities in antibody-based biotherapeutics discovery, research, development and manufacturing.
Transcenta has established global footprint, with Headquarters and Discovery, Clinical and Translational Research Center in Suzhou, Process and Product Development Center and Manufacturing Facility in Hangzhou, and Clinical Development Centers in Beijing, Shanghai and Guangzhou in China and in Princeton, US, and External Partnering Center in Boston and Los Angeles, US. Transcenta has also initiated the construction of the Group Headquarters and the second high-end biopharmaceutical facility with ICB as its core technology in Suzhou Industrial Park. Transcenta is developing ten therapeutic antibody molecules for oncology and selected non-oncology indications including bone and kidney disorders.
For more information, please visit www.transcenta.com and https://www.linkedin.com/company/transcenta.
Forward-Looking Statements
This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Transcenta, are intended to identify certain of such forward-looking statements. Transcenta does not intend to update these forward-looking statements regularly.
These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Transcenta with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Transcenta's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Transcenta's competitive environment and political, economic, legal and social conditions.
Transcenta, the Directors and the employees of Transcenta assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.
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| 2022-04-21T11:02:27Z
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LLOYDMINSTER, AB, April 21, 2022 /PRNewswire/ - Introducing a new down to earth, top shelf bourbon whiskey made those who have chosen to dedicate their lives to building, making, servicing and harvesting the things our nation runs on and uses. For the workers, creators, builders, fixers and doers that build America, who roll up their sleeves everyday and take pride in a job well done.
Troll Co. clothing brand has launched Five Nine, its first high quality Kentucky Straight Bourbon Whiskey, to honor this hard working and under-recognized group of blue-collar Americans who definitely don't subscribe to a 9-5 workday.
Troll Co. has always done things differently. They launched in 2016 with a "Make Trolls Great Again" snapback, championing the gritty hard work of blue-collar jobs. And what started as a joke between friends, has grown into a highly successful, continent-spanning lifestyle brand.
Five years on, Cofounders Justin Lazerte and Jason Tremblay wanted to celebrate the pride and work-ethic of their community and reward them – with a high-quality, authentic whiskey to enjoy at the end of a long, hard shift.
Troll Co. asked One Twenty Three West to help concept, design, name, and plan the launch of Five Nine's Kentucky Straight Bourbon Whiskey. The challenge: create a brand that reflects the product's excellent quality, but more importantly connects with its blue-collar community.
"With Five Nine Bourbon we wanted to create a tools-down whiskey that celebrates some of life's small wins - like an end to a long shift or savoring the satisfaction of a job well done.", said Rick Tremblay, CEO of Five Nine Whiskey.
As part of the brand identity work, One Twenty Three West created a brand platform, name, logo, full product packaging suite, brand guidelines and social media campaign.
"The vision for the design for the Five Nine brand was rooted in embodying that blue collar lifestyle, the juxtaposition between the grittiness of hard work in contrast with the appreciation for the quality and sophistication of a well-crafted whiskey." explains Mo Bofill, Creative Director and Partner at One Twenty Three West. "This was truly a great partnership of co-creating with the Troll Co. team to bring this to life."
Five Nine Kentucky Straight Bourbon Whiskey is available to purchase on April 21, 2022.
For more info and to learn where to purchase, check out: fiveninewhiskey.com.
Follow @fiveninewhiskey on Instagram.
90 pts • Owensboro Distilling Company, Sample: A 21% Rye Bourbon Whiskey, 90 Proof.
Brand: 'Five Nine Kentucky Straight Bourbon'
What the experts say: A rich, golden amber color. Aromas of cherry, marzipan, candied violet, spiced toffee, and dark chocolate; with a round, crisp, dry medium body and a warming, sweet cornbread, French toast, and maple finish. A nicely concentrated high rye bourbon, with big, bold caramelly flavors.
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| 2022-04-21T11:02:34Z
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BEIJING, April 21, 2022 /PRNewswire/ -- Ucommune International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a leading agile office space manager and provider in China, today announced that at an extraordinary general meeting of the Company held at 10 A.M. on April 21, 2022, Beijing time (10 P.M. on April 20, 2022, U.S. Eastern time) (the "Meeting"), its shareholders approved a share consolidation of 20 ordinary shares with par value of US$0.0001 each in the Company's issued and unissued share capital into one ordinary share with par value of US$0.002 (the "Share Consolidation"). As a result of the Share Consolidation, each 20 pre-split ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without any action on the part of the shareholders, and the terms of the outstanding warrants, unit purchase options, senior convertible debentures and awards under share incentive plans of the Company will be adjusted automatically without any action on the part of the holders of those warrants, unit purchase options, senior convertible debentures and awards under share incentive plans.
The Share Consolidation will be effective at 5 P.M. on April 21, 2022, U.S. Eastern time. Beginning with the opening of trading on April 22, 2022, U.S. Eastern time, the Company's Class A ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol "UK" but under a new CUSIP number of G9449A 209. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the whole number of shares. Immediately following the Share Consolidation, the authorized share capital of the Company will be US$50,000.00 divided into 25,000,000 ordinary shares of par value of US$0.002 each, comprising (a) 20,000,000 Class A ordinary shares of par value of US$0.002 each and (b) 5,000,000 Class B ordinary shares of par value of US$0.002 each.
About Ucommune International Ltd
Ucommune is China's leading agile office space manager and provider. Founded in 2015, Ucommune has created a large-scale intelligent agile office ecosystem covering economically vibrant regions throughout China to empower its members with flexible and cost-efficient office space solutions. Ucommune's various offline agile office space services include self-operated models, such as U Space, U Studio, and U Design, as well as asset-light models, such as U Brand and U Partner. By utilizing its expertise in the real estate and retail industries, Ucommune operates its agile office spaces with high efficiency and engages in the urban transformation of older and under-utilized buildings to redefine commercial real estate in China.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any 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 Company's growth strategies; its future business development, results of operations and financial condition; its ability to understand members' needs and provide products and services to attract and retain members; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with members and business partners; trends and competition in China's agile office space market; changes in its revenues and certain cost or expense items; the expected growth of China's agile office space market; PRC governmental policies and regulations relating to the Company's business and industry, and general economic and business conditions in China and globally and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. 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:
Ucommune International Ltd.
ir@ucommune.com
ICR, LLC.
Robin Yang
ucommune@icrinc.com
+1 (212) 537-3847
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| 2022-04-21T11:02:42Z
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FORT LEE, N.J., April 21, 2022 /PRNewswire/ -- Noah Bank announced that its Board of Directors had received a non-binding acquisition proposal from New Millennium Bank ("NMB"). The proposed acquisition would be consummated by merging Noah Bank with and into NMB, with NMB surviving, and all of the issued and outstanding shares of common stock of Noah Bank would be canceled in exchange for the right to receive cash merger consideration. The proposed NMB maximum per share merger consideration is $6.95, subject to a number of potential purchase price adjustments. The various potential purchase price adjustments make it impossible for the Noah Bank Board of Directors to determine at this time the final proposed purchase price. The NMB proposal is not binding and is subject to several conditions, including the closing of a funding of capital by the U.S. Department of Treasury into NMB, a due diligence investigation of Noah Bank by NMB, the negotiation and execution of a definitive acquisition agreement, the receipt of all requisite regulatory approvals and the approval of Noah Bank's shareholders. There can be no assurance that, even if a definitive agreement is entered into between Noah Bank and NMB, any such proposed acquisition would be consummated.
On April 15, 2021, after careful consideration of the best interests of Noah Bank and its stakeholders, Noah Bank entered into a stock purchase agreement with an investor group with respect to the issuance to the investor group of an aggregate of 6,666,666.667 shares of authorized but unissued Noah Bank common stock for total consideration of $10.0 million (the "Capital Infusion"). The Capital Infusion is subject to a number of conditions, including the receipt of all requisite regulatory approvals. There can be no assurance that the necessary conditions will be satisfied such that the Capital Infusion will be consummated.
Noah Bank intends to entertain discussions with NMB regarding questions it has with respect to the NMB proposal as well as to offer NMB the opportunity to conduct due diligence on Noah Bank and Noah Bank to similarly conduct due diligence on NMB and its proposal. There can be no assurance that such discussions or diligence, to the extent they occur, will result in any definitive transaction between NMB and Noah Bank.
With its legal headquarters in Elkins Park, PA, Noah Bank is a Pennsylvania-chartered bank that was launched in 2004. At that time, Noah was named "Royal Asian Bank, a Noah Bank", and changed its name to "Noah Bank" in 2011. Operational headquarters are in Fort Lee, New Jersey. Noah Bank provides banking products and services to businesses and consumers primarily in the Asian-American communities of Southeastern Pennsylvania, Northern New Jersey, Manhattan, New York and Flushing, New York. More information is available at www.noahbank.com.
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| 2022-04-21T11:02:52Z
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Queen Elizabeth II privately marks her 96th birthday
LONDON (AP) - Queen Elizabeth II is marking her 96th birthday privately on Thursday, retreating to the Sandringham estate in eastern England that has offered the monarch and her late husband, Prince Philip, a refuge from the affairs of state.
Elizabeth is expected to spend the day at the estate’s Wood Farm cottage, a personal sanctuary where she also spent her first Christmas since Philip’s death in April 2021. Philip loved the cottage, in part because it is close to the sea, she said in February when hosting a rare public event at Sandringham.
“I think the queen’s approach to birthdays very much embodies her keep calm and carry on attitude,” said Emily Nash, the royal editor at HELLO! magazine. “She doesn’t like a fuss.”
This birthday comes during the queen’s platinum jubilee year, marking her 70 years on the throne. While Thursday will be low-key, public celebrations will take place June 2-5, when four days of jubilee festivities have been scheduled to coincide with the monarch’s official birthday.
The day marks yet another milestone in a tumultuous period for the monarch, who has sought to cement the future of the monarchy amid signs of her age and controversy in the family. After recovering from a bout of COVID-19 earlier this year, the queen’s public appearances have been limited by unspecified “mobility issues.” Prince Andrew’s multi-million pound settlement with a woman who accused him of sexual exploitation also caused unwanted headlines for the royal family.
But the queen got an early birthday treat last week, when grandson Prince Harry and Meghan, the Duchess of Sussex, paid her a joint visit for the first time since they stepped away from frontline royal duties and moved to California in 2020. Harry, in an interview with NBC, said his grandmother was “on great form,” though he added that he wanted to make sure she was “protected” and had “the right people around her.”
Britain’s longest-serving monarch, Elizabeth has spent much of the past two years at Windsor Castle, west of London, where she took refuge during the pandemic.
It’s been a little over a year since the death of Philip, her spouse of more than 70 years.
The queen said good-bye during a scaled down funeral in St. George’s Chapel at Windsor Castle. Coronavirus restrictions in place at the time limited the service to 30 mourners and forced the monarch to sit alone — a poignant reminder of how she would spend her remaining years.
Last month, with the pandemic on the wane and restrictions eased, the queen shrugged off recent health issues to attend a service of thanksgiving for Philip at Westminster Abbey, entering the abbey on the arm of Andrew, her second son.
Her choice of escorts was seen as a vote of support for Andrew following his legal settlement.
But the in-person appearance was rare. The Queen has increasingly relied on Prince Charles to take on public engagements in the twilight of her reign, most recently offering alms to senior citizens at the Royal Maundy service at St. George’s Chapel.
Charles took on the traditional task of distributing specially minted coins to pensioners who were being recognized for service to the church and the local community.
This year, 96 men and 96 women received the coins, one for each year of the queen’s life.
“She has a lot coming up in the next few months, so it absolutely makes sense that she enjoys her birthday quietly, privately at Sandringham,” Nash said. “She will no doubt have quite a lot of time to reflect on her happy times there with Prince Philip over the years. But this is really someone whose focus is still on the future, even at the age of 96.”
Copyright 2022 The Associated Press. All rights reserved.
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https://www.whsv.com/2022/04/21/queen-elizabeth-ii-privately-marks-her-96th-birthday/
| 2022-04-21T11:03:14Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in AbbVie Inc. ("AbbVie" or the "Company") (NYSE: ABBV) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of AbbVie investors who were adversely affected by alleged securities fraud between April 30, 2021 and August 31, 2021. Follow the link below to get more information and be contacted by a member of our team:
ABBV investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) safety concerns about Pfizer Inc.'s drug Xeljanz extended to Abbvie's drug Rinvoq and to other Janus kinase enzyme inhibitor drugs; (2) as a result, it was likely that the U.S. Food and Drug Administration would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, defendants' statements about the Company's business, operations, and prospects lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in AbbVie during the relevant time frame, you have until June 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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| 2022-04-21T11:03:21Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Affirm Holdings, Inc. ("Affirm" or the "Company") (NASDAQ: AFRM) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Affirm investors who were adversely affected by alleged securities fraud between February 12, 2021 and February 10, 2022. Follow the link below to get more information and be contacted by a member of our team:
AFRM investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Affirm's "buy now, pay-later" service facilitated excessive consumer debt, regulatory arbitrage, and data harvesting; (ii) the foregoing subjected Affirm to a heightened risk of regulatory scrutiny and enforcement action; (iii) Affirm maintained inadequate disclosure controls and procedures and internal control over financial reporting; (iv) accordingly, Affirm's tweet for its second quarter 2022 financial results contained selected metrics that made it appear that the Company had performed better than it actually did; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Affirm during the relevant time frame, you have until April 29, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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https://www.whsv.com/prnewswire/2022/04/21/afrm-lawsuit-alert-levi-amp-korsinsky-notifies-affirm-holdings-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:03:27Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in C3.ai, Inc. ("C3.ai, Inc." or the "Company") (NYSE: AI) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of C3.ai, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) C3.ai Class A common stock pursuant and/or traceable to the documents issued in connection with the Company's initial public offering conducted on or about December 9, 2020; and/or (b) C3.ai securities between December 9, 2020 and February 15, 2022, both dates inclusive. Follow the link below to get more information and be contacted by a member of our team:
AI investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) C3.ai's partnership with Baker Hughes was deteriorating; (ii) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) C3.ai faced challenges in product adoption and significant salesforce turnover; (iv) the Company overstated, inter alia, the extent of its investment in technology, description of its customers, its total addressable market, the pace of its market growth, and the scale of alliances with its major business partners; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in C3.ai, Inc. during the relevant time frame, you have until May 3, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:03:34Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Akebia Therapeutics, Inc. ("Akebia" or the "Company") (NASDAQ: AKBA) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Akebia investors who were adversely affected by alleged securities fraud between June 28, 2018 and September 2, 2020. Follow the link below to get more information and be contacted by a member of our team:
AKBA investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) the Company's lead investigational product candidate, vadadustat, was not as safe in treating non-dialysis dependent chronic kidney disease patients with anemia as defendants had represented; (ii) as a result, defendants overstated the clinical prospects of a Phase 3 clinical program for vadadustat; (iii) accordingly, defendants also overstated vadadustat's overall commercial and regulatory prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Akebia during the relevant time frame, you have until May 13, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/akba-lawsuit-alert-levi-amp-korsinsky-notifies-akebia-therapeutics-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:03:41Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Aurinia Pharmaceuticals Inc. ("Aurinia Pharmaceuticals Inc." or the "Company") (NASDAQ: AUPH) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Aurinia Pharmaceuticals Inc. investors who were adversely affected by alleged securities fraud between May 7, 2021 and February 25, 2022. Follow the link below to get more information and be contacted by a member of our team:
AUPH investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Aurinia was experiencing declining revenues; (ii) Aurinia's 2022 sales outlook for the Company's only product which it offers for the treatment of adult patients with active lupus nephritis, LUPKYNIS, would fall well short of expectations; (iii) accordingly, the Company had significantly overstated LUPKYNIS's commercial prospects; (iv) as a result, the Company had overstated its financial position and/or prospects for 2022; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Aurinia Pharmaceuticals Inc. during the relevant time frame, you have until June 14, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/auph-lawsuit-alert-levi-amp-korsinsky-notifies-aurinia-pharmaceuticals-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:03:48Z
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TuneFM's JAM Token is disrupting the music industry by utilizing distributed ledger technology and token payments to ensure artists are paid
ST. JULIANS, Malta, April 21, 2022 /PRNewswire/ -- BEQUANT, the digital asset prime brokerage and exchange, is proud to announce the listing of its first music token, the JAM token from Tune.FM, on the BEQUANT Exchange.
The Tune.FM JAM Token is a Hedera Hashgraph-powered music token that enables a global decentralized music streaming marketplace platform for artists and fans. Each JAM token is paid almost instantly with minimal fees. This means the artist keeps around 90% of revenue made through each stream. This system of micropayments is creating a fully tokenized music economy, connecting artists and fans in ways not seen in the industry before.
The listing of the JAM token is the first music-focused token on the BEQUANT Exchange. Through the BEQUANT Pro prime brokerage platform, the token will also be available to be traded by institutional clients as well as retail investors.
Tune.FM embarked on the mission to create a global independent music marketplace for artists to collaborate, share their music, and connect directly to their fans. Tune.FM is a thriving music marketplace where users can discover great independent music from all around the world.
George Zarya, CEO and Founder of BEQUANT, commented: "We are thrilled to announce the listing of our first music-focused token on the BEQUANT Exchange and be able to support Andrew's vision and cause."
"The music industry has shifted from buying to streaming in the last 10 years and now, Tune.FM's Web 3.0 offering democratizes this principle and puts the money back into the hands of the independent artists. It's a fantastic opportunity and we welcome Andrew and the team into the BEQUANT ecosystem."
Andrew Antar, Co-Founder of Tune.FM, said: "Post-COVID saw independent musicians suffer and with the likes of Spotify not paying them fairly, many were struggling to get by. We are the antidote for the millions of creatives that are not being paid fairly by the big streaming services."
"We are really happy to be partnering with BEQUANT and making JAM token available to retail and professional traders through their Exchange and Pro platform. We're excited to start our journey together."
About BEQUANT
BEQUANT is where traditional investing meets cryptocurrency - a one stop solution for professional digital asset investors and institutions.
Located and regulated in Malta, BEQUANT's breadth of products include prime brokerage, custody and fund administration, all enhanced by an institutional trading platform providing low-latency trading, liquidity and direct market access for investors.
The BEQUANT team is composed of experts from institutional, retail and digital financial services with experience in banking, derivatives, electronic trading and prime brokerage.
© BEQUANT Inc. 2022
https://bequant.io/
https://bequant.pro/
About Tune.FM
Built for artists, for artists.
Tune.FM was built to give power back to the artist. Take control of your creations and your rights. You deserve it. Earn 10X+ more from streaming versus Spotify and others by keeping 90% of your streaming revenue (instead of less than 10%).
"When the Music Gets Played, the Artist Gets Paid."
About JAM Token
Powered by Hedera Hashgraph, Tune.FM's JAM Token provides lightning fast seamless global value exchange through streaming micropayments. The enterprise-grade security of Hedera's consensus algorithm (PoS) is the highest standard possible, aBFT (Asynchronous Byzantine Fault Tolerant).
The JAM token is the first native audio token built on the Hedera Token Service to be traded on an exchange, enabling for the first time ever streaming royalty micropayments with instant settlement. The blazingly fast high throughput (100Ks Tx/s with 3-5s consensus finality) and miniscule fees of a native Hedera token ($0.00001) allow pay-as-you-go micropayments, opening new frontiers for groundbreaking new business models for media consumption.
Contact
Kez Duxbury
Head of PR
kez.duxbury@bequant.io
07833433128
Logo- https://mma.prnewswire.com/media/1737138/BEQUANT_Logo.jpg
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| 2022-04-21T11:03:54Z
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——Ningbo, Setting Sail to Embrace the World Docks at New York City
NINGBO, China, April 21, 2022 /PRNewswire/ -- A news reported from NBGD:
The reporting team of Ningbo, Setting Sail to Embrace the World, a global cross-media journalism campaign, recently visited New York City, where we spoke with Bethann Rooney, Deputy Director for the Port Authority of New York and New Jersey, and Bao Ronggang, Acting Chairman of the San Kiang Charitable Association Inc. N.Y.C.
"Ningbo is our third-largest trading partner in the world, so we really appreciate the partnership that we have with Ningbo. The port and the people of Ningbo are very, very important to the Port of New York and New Jersey," said Rooney. "That word, 'partnership', which I used before, is very important. Another one I would say is 'collaboration'. So, it is important, as Ningbo moves forward with this new vision (of becoming a modern coastal metropolis), to reach out to all of the various constituents, businesses, residents, trade groups, and all sorts of partners to ensure that they are brought into the planning process in order to develop a vision that meets as many needs as possible, including the needs of all the various ports. Parts of this vision are met by coordinating, partnering, and communicating clearly with everybody in terms of reaching that goal and seeing the vision come to fruition."
The San Kiang Charitable Association Inc. N.Y.C. was founded in June 1929 as one of the first non-profit organizations in the Chinese-American community. Its Acting Chairman Bao Ronggang pointed out that Ningbo's port, manufacturing prowess, and booming private sector mean huge potential and opportunities.
In recent years, the San Kiang Charitable Association has been leveraging its networks to organize China-US people-to-people exchanges in culture, tourism, talent sharing, investment, and trade. With opportunities brought about by the BRI and China's national strategy to boost the ocean economy, Ningbo, the aspiring modern coastal metropolis, will surely reach new heights, said Bao.
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| 2022-04-21T11:04:01Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Cabaletta Bio, Inc. ("Cabaletta" or the "Company") (NASDAQ: CABA) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Cabaletta investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Cabaletta common stock pursuant and/or traceable to documents issued in connection with the Company's initial public offering conducted on or about October 24, 2019; and/or (b) Cabaletta securities between October 24, 2019 and December 13, 2021, both dates inclusive. Follow the link below to get more information and be contacted by a member of our team:
CABA investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) top-line data of the Phase 1 Clinical Trial indicated that Cabaletta's lead product candidate, DSG3-CAART, had, among other things, worsened certain participants' disease activity scores and necessitated additional systemic medication to improve disease activity after DSG3-CAART infusion; (ii) accordingly, DSG3-CAART was not as effective as the Company had represented to investors; (iii) therefore, the Company had overstated DSG3-CAART's clinical and/or commercial prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Cabaletta during the relevant time frame, you have until April 29, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:04:07Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Celsius Holdings, Inc. ("Celsius" or the "Company") (NASDAQ: CELH) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Celsius investors who were adversely affected by alleged securities fraud between August 12, 2021 and March 1, 2022. Follow the link below to get more information and be contacted by a member of our team:
CELH investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company had improperly recorded expenses for non-cash share-based compensation for second and third quarters of 2021; (2) as a result, the Company's financial statements for those periods would be restated, including to report a net loss for the third quarter of 2021; (3) there was a material weakness in Celsius's internal controls over financial reporting; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Celsius during the relevant time frame, you have until May 16, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:04:14Z
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NEW YORK , April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Cerence Inc. ("Cerence Inc." or the "Company") (NASDAQ: CRNC) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Cerence Inc. investors who were adversely affected by alleged securities fraud between February 8, 2021 and February 4, 2022. Follow the link below to get more information and be contacted by a member of our team:
CRNC investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the global semiconductor shortage had a materially negative impact on demand for Cerence's software licenses; (2) defendants masked the impact of the semiconductor shortage on demand for the Company's software licenses by pulling forward sales; and (3) as a result of the above, defendants' statements about Cerence's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Cerence Inc. during the relevant time frame, you have until April 26, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:04:21Z
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AUSTIN, Texas, April 21, 2022 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of carrier- and cloud-neutral data center, colocation and interconnection solutions, announced today it has agreed to provide a cash flow guarantee to Digital Core REIT (SGX: DCRU), a publicly traded vehicle listed on the Singapore Stock Exchange sponsored by and externally managed by Digital Realty, related to a recent customer bankruptcy.
On April 11, 2022, Digital Core REIT's fifth-largest customer, a privately held IT service provider occupying 2.7 megawatts of capacity in Toronto and representing approximately $5 million of annualized revenue, or 7.1% of Digital Core REIT's total revenue, filed for bankruptcy protection. The customer remains current on its rental obligations to Digital Core REIT through the month of April and has disclosed that it has obtained $95 million of debtor-in-possession financing. The customer has also publicly stated that it intends to pay suppliers in the normal course of business for goods and services delivered going forward.
In keeping with Digital Realty's continued commitment to the success of Digital Core REIT, it has reached an agreement in principle to guarantee the rental income stream to Digital Core REIT in the event of a near-term cash flow shortfall due to the customer bankruptcy. Given the current customer stance as well as the strength of the Toronto market and the cash flow guarantee, the customer bankruptcy is not expected to have a material impact on Digital Core REIT's distribution per unit, or DPU.
"Digital Core REIT is a strategic capital partner, and we are pleased to demonstrate our commitment to their success," said Digital Realty Chief Executive Officer A. William Stein. "This support is a direct reflection of the strength of Digital Realty's global platform as well as the depth and breadth of our large and growing installed customer base."
This same customer is also Digital Realty's 23rd largest customer and leases approximately 10.5 megawatts directly from Digital Realty across six facilities in four markets, totaling approximately $22 million of annualized revenue, or 0.7% of Digital Realty's total revenue. Digital Realty expects to provide an update on the impact, if any, to its 2022 core FFO per share outlook when it reports first-quarter results after the market close next Thursday, April 28, 2022.
About Digital Realty
Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture (PDx™) solution methodology for scaling digital business and efficiently managing Data Gravity challenges. Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with over 280 facilities in nearly 50 metros across 25 countries on six continents. For more information, please visit digitalrealty.com or follow us on LinkedIn and Twitter.
About Digital Core REIT
Digital Core REIT (SGX: DCRU) is a leading pure-play data center REIT listed in Singapore and sponsored by Digital Realty, the largest global data center owner and operator. Digital Core REIT aims to create long-term, sustainable value for all stakeholders through ownership of a stabilized and diversified portfolio of mission-critical data center facilities concentrated in select global metros. For more information, please visit digitalcorereit.com.
Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 (737) 281-0101
InvestorRelations@digitalrealty.com
Media & Industry Analyst Relations
Helen Bleasdale
Digital Realty
+1 (737) 267-6822
hcbleasdale@digitalrealty.com
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 a customer bankruptcy and expected cash flow guarantee, the related impact on Digital Core REIT's DPU and outlook, and the related impact on Digital Realty and its outlook. For a list and description of risks and uncertainties, please see the company's reports and other filings with the U.S. Securities and Exchange Commission. The company 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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| 2022-04-21T11:04:29Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Telefonaktiebolaget LM Ericsson ("Telefonaktiebolaget LM Ericsson" or the "Company") (NASDAQ: ERIC) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Telefonaktiebolaget LM Ericsson investors who were adversely affected by alleged securities fraud between April 27, 2017 and February 25, 2022. Follow the link below to get more information and be contacted by a member of our team:
ERIC investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Ericsson overstated the extent to which it had reformed its business practices to eliminate the use of bribes to secure business in foreign countries; (ii) Ericsson had paid bribes to the terrorist group the Islamic State in Iraq and Syria to gain access to certain transport routes in Iraq; (iii) accordingly, the Company's revenues derived from its operations in Iraq were, in at least substantial part, derived from unlawful conduct and thus unsustainable; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Telefonaktiebolaget LM Ericsson during the relevant time frame, you have until May 2, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:04:36Z
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The 31st annual EuroFinance International Treasury Management 2022 will return this September with more than 2,000 attendees, 150 speakers, 100 sponsors and exhibitors.
LONDON, April 21, 2022 /PRNewswire/ -- For the first in-person event in three years, EuroFinance International Treasury Management keynote speakers will include Guy Verhofstadt, member of the European Parliament and Göran Carstedt, former corporate executive of Volvo and IKEA.
The full line-up brings more than 150 global corporate treasury leaders, financial institutions, technology providers and thought-leaders together to discuss the theme "Treasury in transition", across 12 stages at Vienna's Messe Wien Exhibition Congress Center from September 21st-23rd 2022.
Guy Verhofstadt is a Member of the European Parliament and co-chair of the Conference on the Future of Europe. He served as prime minister of Belgium from 1999 until 2008 and also made a name for himself as Brexit coordinator and as a passionate champion of more European integration. He will give the opening keynote on day 1.
Dr Göran Carstedt is the former head of IKEA North America and IKEA Retail Europe and former head of VOLVO France and Volvo Sweden. Having run some of the world's leading companies, Dr Carstedt is also the former senior director of President Clinton's Climate Change Initiative. He will give the opening keynote presentation on day 2 on how climate change is changing business.
Corporate treasury leaders from some of the world's top multinationals – including TechnipFMC, Citrix Systems, Kongsberg Automotive, Autoneum, Equinor, Heinz, Medtronic, John Lewis – have also been confirmed.
"We look forward to seeing people connecting and collaborating face-to-face once again in Vienna. It's great to see live events bouncing back across the world and from the response we have had so far, it's clear that our community of speakers, banks and technology providers are eager to meet in-person after 2 years of virtual meetings," says Asif Chaudhury, Managing Director of EuroFinance.
Irreversibly changed after the events of the past few years, this year's theme will explore the "new" treasury; a highly digital and automated function tasked with meeting strategic goals and changing remits against a backdrop of multiple issues from climate change to high inflation. Treasurers will share their experience in practical case studies and technical discovery labs and celebrate the innovations that will drive change.
EuroFinance's growing list of sponsors and exhibitors for the event includes J.P. Morgan Chase, Standard Chartered, Citi, Bank of America, BNP Paribas, Fitch Group, HSBC, Santander Corporate & Investment Banking, Visa, Société Générale, American Express, ION, Serrala, TIS, Remote Technology, B2C2, Coupa, PrimeRevenue, Bayerische Landesbank, Northern Trust Asset Management, Credit Agricole, Zanders, UniCredit, ICD, Pictet Asset Management, Raiffeisen Bank, BlackRock, Legal and General, Tietoevry, Amundi, CMSpi, Nomentia, GTreasury, Aviva Investors Global Services, CashAnalytics, Treasury Systems, Invesco, The Treasury Recruitment Company, CoCoNet, Exalog, Traxpay, FInastra, EACT, Calculum and SisID.
For more information and to register, visit: https://www.eurofinance.com/international
About EuroFinance
EuroFinance, part of The Economist Group, is a leading global provider of treasury, cash management and risk events, research and training. With over 30 years of experience, our mission is to bring together the brightest minds and most influential voices in treasury. Through in-depth research with 1,000 corporate treasury professionals every year, we have a unique insight into the trends and developments within the profession and an unrivalled global viewpoint.
Useful Links
EuroFinance International Treasury Management event homepage: www.eurofinance.com/international
EuroFinance LinkedIn: www.linkedin.com/company/73963
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| 2022-04-21T11:04:42Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Meta Platforms, Inc. ("Meta Platforms, Inc." or the "Company") (NASDAQ: FB) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Meta Platforms, Inc. investors who were adversely affected by alleged securities fraud between March 2, 2021 and February 2, 2022. Follow the link below to get more information and be contacted by a member of our team:
FB investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Apple's iOS privacy changes were having a material impact on Meta's ability to provide the kind of targeted advertising that its customers wanted and, as a result, customer ad spending was dropping precipitously; (2) Meta's mitigation efforts were either not properly implemented or ineffective; (3) measurement of ads was not accurate as mitigation efforts were failing; and (4) Meta did not have a plan in place to properly address the impact of the iOS privacy changes.
WHAT'S NEXT? If you suffered a loss in Meta Platforms, Inc. during the relevant time frame, you have until May 9, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:04:49Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Homology Medicines, Inc. ("Homology" or the "Company") (NASDAQ: FIXX) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Homology investors who were adversely affected by alleged securities fraud between June 10, 2019 and February 18, 2022. Follow the link below to get more information and be contacted by a member of our team:
FIXX investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) the Company had overstated the efficacy and risk mitigation of its lead product candidate, HMI-102; (ii) accordingly, it was unlikely that the Company would be able to commercialize HMI102 in its present form; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Homology during the relevant time frame, you have until May 24, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:04:56Z
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NEW YORK , April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Gatos Silver, Inc. ("Gatos" or the "Company") (NYSE: GATO) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Gatos investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Gatos: (a) common stock pursuant and/or traceable to documents issued in connection with the Company's initial public offering conducted on or about October 28, 2020; and/or (b) securities between October 28, 2020 and January 25, 2022, inclusive. Follow the link below to get more information and be contacted by a member of our team:
GATO investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the technical report for Gatos's primary mine, the Cerro Los Gatos deposit, contained certain errors; (2) among other things, the mineral reserves had been overestimated by as much as 50%; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Gatos during the relevant time frame, you have until April 25, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:05:04Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Grab Holdings Limited ("Grab Holdings" or the "Company") (NASDAQ: GRAB) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Grab Holdings investors who were adversely affected by alleged securities fraud between November 12, 2021 and March 2, 2022. Follow the link below to get more information and be contacted by a member of our team:
GRAB investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Grab's driver supply declined during the third quarter; (2) as a result, Grab continued to invest heavily in driver and consumer incentives to "preemptively recalibrate driver supply"; (3) as a result, the Company's financial results would be adversely impacted, including, among other things, a significant decline in revenue; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Grab Holdings during the relevant time frame, you have until May 16, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:05:10Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in International Business Machines Corporation ("IBM" or the "Company") (NYSE: IBM) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of IBM investors who were adversely affected by alleged securities fraud between April 4, 2017 and October 20, 2021. Follow the link below to get more information and be contacted by a member of our team:
IBM investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Strategic Imperatives Revenue and growth, CAMSS and CAMSS Components' revenue and growth, and the Company's Segments' revenue and growth were artificially inflated as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; (ii) the Company's present success and positive future growth prospects concerning its Strategic Imperative business strategy were being fueled by the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperative Revenue and, as a result (iii) the Company misled the market by portraying the Company's Strategic Imperative's financial performance and future prospects more favorable than they actually were as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives.
WHAT'S NEXT? If you suffered a loss in IBM during the relevant time frame, you have until June 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:05:17Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Lucid Group, Inc. ("Lucid" or the "Company") (NASDAQ: LCID) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Lucid investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of a class of all persons and entities who purchased or otherwise acquired Lucid common stock between November 15, 2021, and February 28, 2022, inclusive. Follow the link below to get more information and be contacted by a member of our team:
LCID investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Lucid's business and operations. Specifically, the Company overstated its production capabilities while concealing that "extraordinary supply chain and logistics challenges" were hampering Lucid's operations. As a result of the defendants' wrongful acts and omissions, and the significant decline in the market value of Lucid's common stock, Lucid investors have suffered significant damages.
WHAT'S NEXT? If you suffered a loss in Lucid during the relevant time frame, you have until May 31, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:05:24Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Lilium N.V. f/k/a Qell Acquisition Corp. ("Lilium N.V. f/k/a Qell Acquisition Corp." or the "Company") (NASDAQ: LILM) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Lilium N.V. f/k/a Qell Acquisition Corp. investors who were adversely affected by alleged securities fraud between March 30, 2021 and March 14, 2022. Follow the link below to get more information and be contacted by a member of our team:
LILM investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Lilium materially overstates the design and capabilities of the Lilium Jet, an electric vertical take-off-and-landing aircraft for use in a new type of high-speed air transport system for people and goods; (2) Lilium materially overstates the likelihood for the Lilium Jet's timely certification; (3) Lilium misrepresents its ability to obtain or create the necessary batteries for the Lilium Jet; (4) the special purpose acquisition company merger would not and did not generate enough cash to commercially launch the Lilium Jet; (5) Qell Acquisition Corp. did not engage in proper due diligence regarding its merger with Lilium GmbH; and (6) as a result, Defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Lilium N.V. f/k/a Qell Acquisition Corp. during the relevant time frame, you have until June 17, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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| 2022-04-21T11:05:31Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in MP Materials Corp. f/k/a Fortress Value Acquisition Corp. ("MP Materials" or the "Company") (NYSE: MP) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of MP Materials investors who were adversely affected by alleged securities fraud between May 1, 2020 and February 2, 2022. Follow the link below to get more information and be contacted by a member of our team:
MP investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Fortress Value Acquisition Corp. ("FVAC") had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (ii) FVAC performed inadequate due diligence into Legacy MP Materials prior to the business combination, or else ignored significant red flags regarding, inter alia, Legacy MP Materials' management, compliance policies, and Mountain Pass's profitability; (iii) as a result, the Company's future business and financial prospects post-business combination were overstated; (iv) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People's Republic of China to artificially inflate the Company's profits; (v) MP Materials' ore at the Mountain Pass Rare Earth Mine and Processing Facility was not economically viable to harvest for rare earth metals; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in MP Materials during the relevant time frame, you have until April 25, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/mp-lawsuit-alert-levi-amp-korsinsky-notifies-mp-materials-corp-fka-fortress-value-acquisition-corp-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:05:40Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Playstudios, Inc. ("Playstudios, Inc." or the "Company") (NASDAQ: MYPS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Playstudios, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of a class consisting of all persons and entities other than defendants who: (a) purchased, or otherwise acquired securities of Playstudios between June 22, 2021 and March 1, 2022, both dates inclusive, including, but not limited to, those who purchased or acquired Playstudios securities pursuant to the offering of the private investment in public equity; (b) held common stock of Acies as of May 25, 2021, and were eligible to vote at Acies' June 16, 2021 special meeting who exchanged their shares of Acies stock for shares of Playstudios stock pursuant to the merger of Acies and Old Playstudios; and/or (c) purchased or otherwise acquired Playstudios common stock pursuant to or traceable to Acies' documents issued in connection with the June 2021 merger. Follow the link below to get more information and be contacted by a member of our team:
MYPS investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Playstudios was having significant problems with its flagship game, Kingdom Boss; (ii) Playstudios would not be releasing Kingdom Boss as expected; and (iii) Playstudios had not revised its financial projections to account for the problems it had encountered with Kingdom Boss. As a result of defendants' wrongful conduct, Class members paid artificially inflated prices for their Playstudios securities and suffered substantial losses and damages.
WHAT'S NEXT? If you suffered a loss in Playstudios, Inc. during the relevant time frame, you have until June 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/myps-lawsuit-alert-levi-amp-korsinsky-notifies-playstudios-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:05:47Z
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BAODING, China, April 21, 2022 /PRNewswire/ -- Recently, GWM TANK500, a new model of GWM's TANK brand, was launched in China, becoming one of the hottest models in the local market.
As a new member of GWM, GWM TANK500, the middle and large SUV model, belongs to the first luxury business series of the brand, which has both the business and off-road features.
GWM TANK500 has a tough exterior look and a larger car body profile than models of its class. With a large horizontal grille and the original square headlights in its front, a more mature and steady visual effect is created. The lines of the car body, such as the side line in the middle of the car body that connects the headlight and taillight, are smooth and manifesting its fineness.
In addition to its solemn appearance, the interior of the GWM TANK500 conveys a tender feeling, just like a gentleman. Soft materials and wood patterns are opulently applied in the interior space of the vehicle, delivering the delicate and warm atmosphere. Be it the steering wheel or car seats, they are all wrapped in genuine leather to bring the comfort of the luxury business model when users touch the steering wheel and lean back in the seat.
The vehicle also has the settings of luxury car series such as Internet of vehicles, panoramic sunroof and privacy glass. Particularly, the design of the privacy glass has fully reflected the details of GWM TANK500's luxury quality.
For driving experience, GWM TANK500 inherits the TANK brand's advantages in off-road driving in terms of exploration capability and chassis structure. More importantly, the vehicle is the first GWM model equipped with the 3.0T+9AT power combination. The strong power can not only help handle various complex road conditions but also bring a more adequate sense of security for users with its stability.
This new model is friendly even towards new off-road drivers. The four-wheel-drive system can be switched into the two-wheel-drive system to fully guarantee its fuel efficiency. Users' needs can be met no matter if it is occasional off-road driving or daily commuting.
After the test drive of GWM TANK500, many users commented positively that the car comprehensively meet the expectations of consumers in the new era for a high-quality car life in the near future. It is more like an all-around assistant for the whole family, taking up the role of a comprehensive service provider for business purposes, daily commuting, and family travels.
The launch of GWM TANK500 is going to attract more users to the TANK brand while users still have a deep impression on the popularity of GWM TANK300, the first hit model of TANK brand in the local market.
In the second half of 2022, GWM plans to launch GWM TANK300 and GWM TANK500 in the overseas markets. Both models will potentially bring lots of pleasant surprises to the global users.
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SOURCE GWM
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https://www.whsv.com/prnewswire/2022/04/21/new-off-road-star-model-gwm-launches-new-luxury-business-suv-gwm-tank500/
| 2022-04-21T11:05:54Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Rivian Automotive, Inc. ("Rivian Automotive, Inc." or the "Company") (NASDAQ: RIVN) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rivian Automotive, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of investors that purchased or otherwise acquired Rivian common stock pursuant and/or traceable to Rivian's initial public offering on November 10, 2021 and/or between November 10, 2021, and March 10, 2022. Follow the link below to get more information and be contacted by a member of our team:
RIVN investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: Documents issued in connection with the initial public offering contained representations that were materially inaccurate, misleading, and/or incomplete because they failed to disclose, among other things, that the R1T electric pickup truck and R1S electric SUV were underpriced to such a degree that Rivian would have to raise prices shortly after the IPO and that these price increases would tarnish Rivian's reputation as a trustworthy and transparent company and would put a significant number of the existing backlog of 55,400 preorders, along with future preorders, in jeopardy of cancellation.
WHAT'S NEXT? If you suffered a loss in Rivian Automotive, Inc. during the relevant time frame, you have until May 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/rivn-lawsuit-alert-levi-amp-korsinsky-notifies-rivian-automotive-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:06:00Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Stronghold Digital Mining, Inc. ("Stronghold Digital Mining, Inc." or the "Company") (NASDAQ: SDIG) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Stronghold Digital Mining, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Stronghold Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2021 initial public offering. Follow the link below to get more information and be contacted by a member of our team:
SDIG investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) contracted suppliers, including MinerVa Semiconductor Corp., were reasonably likely to miss anticipated delivery quantities and deadlines; (2) due to strong demand and pre-sold supply of mining equipment in the industry, Stronghold would experience difficulties obtaining miners outside of confirmed purchase orders; (3) as a result of the foregoing, there was a significant risk that Stronghold could not expand its mining capacity as expected; (4) as a result, Stronghold would likely experience significant losses; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Stronghold Digital Mining, Inc. during the relevant time frame, you have until June 13, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/sdig-lawsuit-alert-levi-amp-korsinsky-notifies-stronghold-digital-mining-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:06:07Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Taskus, Inc. ("Taskus" or the "Company") (NASDAQ: TASK) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Taskus investors who were adversely affected by alleged securities fraud between June 11, 2021 and January 19, 2022. Follow the link below to get more information and be contacted by a member of our team:
TASK investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) TaskUs was experiencing severe financial strain and business challenges, particularly with its most important customer, Facebook; (2) the Content Security market was smaller than defendants represented and defendants' representations were based on outdated market data; (3) TaskUs improperly recognized revenue from certain key contracts; (4) defendants overstated the size of TaskUs' workforce as well as employee retention rates, and understated attrition rates; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Taskus during the relevant time frame, you have until April 25, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/task-lawsuit-alert-levi-amp-korsinsky-notifies-taskus-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:06:14Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Volta Inc. ("Volta" or the "Company") (NYSE: VLTA) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Volta investors who were adversely affected by alleged securities fraud between August 2, 2021 and March 28, 2022. Follow the link below to get more information and be contacted by a member of our team:
VLTA investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Volta had improperly accounted for restricted stock units issued in connection with the business combination of Volta Industries, Inc. ("Legacy Volta") and Tortoise Acquisition Corp. II; (2) as a result, the Company had understated its net loss for third quarter 2021; (3) there were material weaknesses in the Company's internal control over financial reporting that resulted in a material error; (4) as a result of the foregoing, the Company would restate its financial statements; (5) as a result of the foregoing, Legacy Volta's founders would imminently exit the Company; (6) as a result, the Company's financial results would be adversely impacted; and (7) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Volta during the relevant time frame, you have until May 31, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/vlta-lawsuit-alert-levi-amp-korsinsky-notifies-volta-inc-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:06:21Z
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NEW YORK, April 21, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Vertiv Holdings Co ("Vertiv" or the "Company") (NYSE: VRT) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Vertiv investors who were adversely affected by alleged securities fraud between April 28, 2021 and February 23, 2022. Follow the link below to get more information and be contacted by a member of our team:
VRT investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company could not adequately respond to supply chain issues and inflation by increasing its prices; (2) as a result of the increasing costs, Vertiv's earnings would be adversely impacted; and (3) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Vertiv during the relevant time frame, you have until May 23, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP
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https://www.whsv.com/prnewswire/2022/04/21/vrt-lawsuit-alert-levi-amp-korsinsky-notifies-vertiv-holdings-co-investors-class-action-lawsuit-upcoming-deadline/
| 2022-04-21T11:06:28Z
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BEIJING, April 21, 2022 /PRNewswire/ -- On April 17, a day after China's Shenzhou 13 crew returned to earth, dairy giant Yili Group announced at a press conference to collaborate with the China Center for Aerospace Science and Technology International Communications (CCASTIC), which is an affiliation of China Aerospace Science and Technology Corporation (CASC). The collaboration will include establishing a Space Lab for Future Dairy, which will aim to leverage space technology to bring new transformative innovations to the health sector.
Yu Dengyun, Deputy Director of the Science and Technology Committee of CASC and Academician of the Chinese Academy of Sciences, noted that the two sides will focus on boosting the dairy industry through space technology. He said that research on space biology and new space materials will introduce new solutions to upgrade the dairy industry.
Yili will strive to develop more healthy dairy products that fulfill consumers' nutritional demands and meet strict quality standards. We will drive and contribute to the upgrading of the dairy industry through space technology, said Zhang Jianqiu, CEO of Yili Group.
The two sides will work closely with related space institutes on scientific research, technology transfers and product development. Through joint efforts in packaging using new space materials, bacterial strains in space, TanSat-based pasture monitoring, and health and nutritional care, they are committed to upgrading dairy products to a higher level.
The Lab marks a step forward towards further empowering industries with space technology and improving consumers' health and nutritional status. Dr. Situ Wenyou, a scientific research expert of the Innovation Center of Yili, expressed his hope that this inter-disciplinary cooperation will bring about lighter, safer and more environmentally friendly food packaging materials, as well as nutrition and health products tailored for special segments of the population, with the aim of enabling consumers to enjoy advanced technologies and products in their daily lives. Yili aspires to participate in future space experiments by applying cutting-edge research to dairy products under special conditions such as long-term microgravity, strong radiation and extreme temperatures. These efforts will contribute to improving consumers' health and nutrition by leveraging state-of-the-art technology.
Yili has always pursued the philosophy of "no innovation, no future". To date, the company has built 15 innovation centers across the globe and actively engages in innovation-focused collaborations across its supply chain. By early December 2021, Yili had become one of the leading dairy players in terms of its total number of patent applications and invention applications.
Yili is also stepping up its efforts to build the Future Intelligence and Health Valley in Hohhot, Inner Mongolia Autonomous Region, a landmark project for the dairy industry. The Valley includes a RMB 5 billion (equivalent to approximately US $785 million) demonstration program focused on the 5G- and AI-based green production of liquid milk, the largest and most highly automated such initiative of its kind.
Image Attachments Links:
Link: http://asianetnews.net/view-attachment?attach-id=419530
Caption: Yili collaborates with CASC to upgrade the dairy industry through space technology.
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| 2022-04-21T11:06:34Z
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THURSDAY
Caregivers for loved ones with Alzheimer’s/dementia: 3 p.m., meet for coffee, pie, understanding and comradeship at Perkins Restaurant & Bakery, 204 S. 30th St. For more information, call 307-745-6451.
Ivinson Medical Group women’s health prenatal education: 5:30 p.m., Ivinson Memorial Hospital in the Summit Conference Room. Learn more or register at ivinsonhospital.org/childbirth.
LHS musical theatre presents “Bye Bye Birdie”: 7 p.m., Laramie High School theater. Tickets are $8 adults, $6 students and can be bought online at lhstg7838.booktix.com or at the door.
UW Jazz Studies presents UW Jazz Ensembles I and II in concert: 7:30 p.m., Buchanan Center for the Performing Arts Concert Hall. For tickets, call 307-766-6666 or visit uwyo.edu/finearts.
Relative Theatrics presents “Black Sky”: 7:30 p.m., Gryphon Theatre at the Laramie Plains Civic Center, 710 E. Garfield St. Tickets are $16, and $14 for students and seniors. Get them online at relativetheatrics.eventbrite.com.
FRIDAY
Albany County CattleWomen meet: 11:30 a.m., location tbd. Visit wyaccw.com in the week before the meeting for location and more information.
Free stress relief clinic: Noon to 1 p.m., Laramie Plains Civic Center Phoenix Ballroom.
LHS musical theatre presents “Bye Bye Birdie”: 7 p.m., Laramie High School theater. Tickets are $8 adults, $6 students and can be bought online at lhstg7838.booktix.com or at the door.
UW planetarium presents “Earth Day”: 7 p.m., UW Planetarium. Observe our beautiful planet from the ground, sky and space as we learn about glaciers, atmospheric science, meteorology, extreme weather events and climate history.
Violin virtuoso Augustin Hadelich with UW Chamber Orchestra: 7:30 p.m., Buchanan Center for the Performing Arts. Tickets available at uwyo.edu/finearts.
Relative Theatrics presents “Black Sky”: 7:30 p.m., Gryphon Theatre at the Laramie Plains Civic Center, 710 E. Garfield St. Tickets are $16, and $14 for students and seniors. Get them online at relativetheatrics.eventbrite.com.
SATURDAY
Laramie Home and Garden Show: 9 a.m. to 3 p.m., Laramie Ice and Events Center.
Free stress relief clinic: 10-11 a.m., Laramie Plains Civic Center Phoenix Ballroom.
UW planetarium presents “From Earth to the Universe”: 2 p.m., UW Planetarium. The night sky, both beautiful and mysterious, has been the subject of campfire stories, ancient myths and awe for as long as there have been people.
LHS musical theatre presents “Bye Bye Birdie”: 7 p.m., Laramie High School theater. Tickets are $8 adults, $6 students and can be bought online at lhstg7838.booktix.com or at the door.
Relative Theatrics presents “Black Sky”: 7:30 p.m., Gryphon Theatre at the Laramie Plains Civic Center, 710 E. Garfield St. Tickets are $16, and $14 for students and seniors. Get them online at relativetheatrics.eventbrite.com.
UW Theater and Dance presents Koresh Dance Co.: 7:30 p.m., Buchanan Center for the Performing Arts main stage. Tickets $16, $13 for seniors and $8 for students. Call 307-766-6666 or visit uwyo.edu/finearts.
SUNDAY
Understanding Medicare informational meeting: 3 p.m., American Legion post, 417 E. Ivinson Ave. Free and open to the public.
UW Department of Music presents “Grieg, Violin Sonatas for Flute”: 7:30 p.m., Buchanan Center for the Performing Arts. Free to attend and public is invited.
MONDAY
Alcoholics Anonymous meets: Daily at various times in person or on Zoom. For more information, call 307-399-0590 or visit area76aawyoming.org or aa.org.
Survivors of Suicide Support Group: Meets from 5:30-6:45 p.m. at Hospice of Laramie House, 1754 Centennial Drive.
Wyoming’s energy economy panel discussion: 6 p.m., online at uweconomists.eventbrite.com. Features four University of Wyoming economists.
Women for Sobriety meet: 6:30-8:30 p.m. via Zoom. For meeting details, email 1093@womenforsobriety.org.
America Sewing Guild Laramie Chapter meets: 7 p.m., United Methodist Church, 1215 E. Gibbon St.
TUESDAY
Prayers & Squares Quilting Group meets: 9 a.m., Room 1 of Hunter Hall at St. Matthews Cathedral.
Free stress relief clinic: 1-2 p.m., Laramie Plains Civic Center Phoenix Ballroom.
Albany County Public Library Board meets: 4 p.m., in the large meeting room at the library’s Laramie branch. Public comments can be emailed to rcrocker@acplwy.org to be read aloud at the meeting.
WEDNESDAY
Laramie Tai Chi and tea: Meets at 1:30 p.m. at the north end of the stadium in Laramie Plainsman Park, North 15th and Reynolds. For more information, visit laramietaichiandtea.org.
April 28
Caregivers for loved ones with Alzheimer’s/dementia: 3 p.m., meet for coffee, pie, understanding and comradeship at Perkins Restaurant & Bakery, 204 S. 30th St. For more information, call 307-745-6451.
International Night at Laramie High School: 6-7:30 p.m., at the school. Tickets cost $15 and are available 3:15-4:15 p.m. in the lobby through April 22.
Stitching the Past Together creative aging class: 6:30-8 p.m., Albany County Public Library large meeting room. Students will learn memory-based storytelling through beading techniques in this free course. Register at acplwy.org or at the circulation desk.
April 29
Free stress relief clinic: Noon to 1 p.m., Laramie Plains Civic Center Phoenix Ballroom.
Pianist Cory Smythe public recital: 7 p.m., Buchanan Center for the Performing Arts. Performing with Sherry Sinift on violin and James Przygocki on viola. Free to attend.
UW planetarium presents “Mars”: 7 p.m., UW Planetarium. The red planet is host to many questions; did it used to be like Earth? Did it once harbor life? Could it still support life?
April 30
Free stress relief clinic: 10-11 a.m., Laramie Plains Civic Center Phoenix Ballroom.
UW planetarium presents “Mexica Archaeoastronomy”: 2 p.m., UW Planetarium. Illustrates the important role played by astronomical observation for the evolution of pre-Hispanic cultures in central Mexico.
UW planetarium presents “Liquid Sky, Electronica”: 7 p.m., UW Planetarium. Enjoy a custom playlist of music from today’s top artists.
May 1
Learn about veterans benefits and how to apply: 3 p.m., American Legion post, 417 E. Ivinson Ave. Free and open to the public.
May 2
Alcoholics Anonymous meets: Daily at various times in person or on Zoom. For more information, call 307-399-0590 or visit area76aawyoming.org or aa.org.
Survivors of Suicide Support Group: Meets from 5:30-6:45 p.m. at Hospice of Laramie House, 1754 Centennial Drive.
Women for Sobriety meet: 6:30-8:30 p.m. via Zoom. For meeting details, email 1093@womenforsobriety.org.
May 3
Prayers & Squares Quilting Group meets: 9 a.m., Room 1 of Hunter Hall at St. Matthews Cathedral.
Free stress relief clinic: 1-2 p.m., Laramie Plains Civic Center Phoenix Ballroom.
May 4
Laramie Tai Chi and tea: Meets at 1:30 p.m. at the north end of the stadium in Laramie Plainsman Park, North 15th and Reynolds. For more information, visit laramietaichiandtea.org.
Ivinson Medical Group women’s health prenatal education: 5:30 p.m., Ivinson Memorial Hospital in the Summit Conference Room. Learn more or register at ivinsonhospital.org/childbirth.
May 5
Caregivers for loved ones with Alzheimer’s/dementia: 3 p.m., meet for coffee, pie, understanding and comradeship at Perkins Restaurant & Bakery, 204 S. 30th St. For more information, call 307-745-6451.
Diabetes Support Group meets: 5:30-6:30 p.m. via Zoom. Email questions@ivinsosnhospital.org for the link.
Cinco de Mayo at the Wyoming Territorial Prison State Historic Site: 5:30-7:30 p.m., Horse Barn Theater at the site. Free to public.
Stitching the Past Together creative aging class: 6:30-8 p.m., Albany County Public Library large meeting room. Students will learn memory-based storytelling through beading techniques in this free course. Register at acplwy.org or at the circulation desk.
May 6
Free stress relief clinic: Noon to 1 p.m., Laramie Plains Civic Center Phoenix Ballroom.
May 7
Free stress relief clinic: 10-11 a.m., Laramie Plains Civic Center Phoenix Ballroom.
VFW Post 2221 Commander’s Charity Dinner: 5:30-8 p.m., 2142 E. Garfield St. Tickets 412 at the door, all proceeds to benefit VFW Poppy Fund and Albany County Search and Rescue.
May 9
Alcoholics Anonymous meets: Daily at various times in person or on Zoom. For more information, call 307-399-0590 or visit area76aawyoming.org or aa.org.
Survivors of Suicide Support Group: Meets from 5:30-6:45 p.m. at Hospice of Laramie House, 1754 Centennial Drive.
Women for Sobriety meet: 6:30-8:30 p.m. via Zoom. For meeting details, email 1093@womenforsobriety.org.
May 10
Prayers & Squares Quilting Group meets: 9 a.m., Room 1 of Hunter Hall at St. Matthews Cathedral.
Free stress relief clinic: 1-2 p.m., Laramie Plains Civic Center Phoenix Ballroom.
Albany County Republican Party meets: 6 p.m., Albany County Public Library.
May 11
Laramie Tai Chi and tea: Meets at 1:30 p.m. at the north end of the stadium in Laramie Plainsman Park, North 15th and Reynolds. For more information, visit laramietaichiandtea.org.
Ivinson Medical Group women’s health prenatal education: 5:30 p.m., Ivinson Memorial Hospital in the Summit Conference Room. Learn more or register at ivinsonhospital.org/childbirth.
May 12
Caregivers for loved ones with Alzheimer’s/dementia: 3 p.m., meet for coffee, pie, understanding and comradeship at Perkins Restaurant & Bakery, 204 S. 30th St. For more information, call 307-745-6451.
Stitching the Past Together creative aging class: 6:30-8 p.m., Albany County Public Library large meeting room. Students will learn memory-based storytelling through beading techniques in this free course. Register at acplwy.org or at the circulation desk.
May 13
Free stress relief clinic: Noon to 1 p.m., Laramie Plains Civic Center Phoenix Ballroom.
May 14
University of Wyoming graduation ceremony: 8:30 a.m., UW Arena-Auditorium, undergraduate ceremony for the colleges of Agriculture and Natural Resources, Engineering and Applied Science and School of Energy Resources.
Free stress relief clinic: 10-11 a.m., Laramie Plains Civic Center Phoenix Ballroom.
University of Wyoming graduation ceremony: 10 a.m., Buchanan Center for the Performing Arts, for the College of Law.
University of Wyoming graduation ceremony: 12:15 p.m., UW Arena-Auditorium, for master’s and doctoral students from colleges of Agriculture and Natural Resources, Business, Education, Engineering and Applied Science, Health Sciences and Haub School of Environment and Natural Resources.
University of Wyoming graduation ceremony: 3:30 p.m., UW Arena-Auditorium, for undergraduate ceremony for colleges of Arts and Sciences, Education, Haub School of Environment and Natural Resources and Office of Academic Affairs.
May 16
Alcoholics Anonymous meets: Daily at various times in person or on Zoom. For more information, call 307-399-0590 or visit area76aawyoming.org or aa.org.
Survivors of Suicide Support Group: Meets from 5:30-6:45 p.m. at Hospice of Laramie House, 1754 Centennial Drive.
Women for Sobriety meet: 6:30-8:30 p.m. via Zoom. For meeting details, email 1093@womenforsobriety.org.
May 17
Prayers & Squares Quilting Group meets: 9 a.m., Room 1 of Hunter Hall at St. Matthews Cathedral.
Free stress relief clinic: 1-2 p.m., Laramie Plains Civic Center Phoenix Ballroom.
May 18
Laramie Tai Chi and tea: Meets at 1:30 p.m. at the north end of the stadium in Laramie Plainsman Park, North 15th and Reynolds. For more information, visit laramietaichiandtea.org.
Ivinson Medical Group women’s health prenatal education: 5:30 p.m., Ivinson Memorial Hospital in the Summit Conference Room. Learn more or register at ivinsonhospital.org/childbirth.
May 19
Caregivers for loved ones with Alzheimer’s/dementia: 3 p.m., meet for coffee, pie, understanding and comradeship at Perkins Restaurant & Bakery, 204 S. 30th St. For more information, call 307-745-6451.
Stitching the Past Together creative aging class: 6:30-8 p.m., Albany County Public Library large meeting room. Students will learn memory-based storytelling through beading techniques in this free course. Register at acplwy.org or at the circulation desk.
May 20
Albany County CattleWomen meet: 11:30 a.m., location tbd. Visit wyaccw.com in the week before the meeting for location and more information.
Free stress relief clinic: Noon to 1 p.m., Laramie Plains Civic Center Phoenix Ballroom.
May 21
Free stress relief clinic: 10-11 a.m., Laramie Plains Civic Center Phoenix Ballroom.
May 23
Alcoholics Anonymous meets: Daily at various times in person or on Zoom. For more information, call 307-399-0590 or visit area76aawyoming.org or aa.org.
Survivors of Suicide Support Group: Meets from 5:30-6:45 p.m. at Hospice of Laramie House, 1754 Centennial Drive.
Women for Sobriety meet: 6:30-8:30 p.m. via Zoom. For meeting details, email 1093@womenforsobriety.org.
America Sewing Guild Laramie Chapter meets: 7 p.m., United Methodist Church, 1215 E. Gibbon St.
May 24
Prayers & Squares Quilting Group meets: 9 a.m., Room 1 of Hunter Hall at St. Matthews Cathedral.
Free stress relief clinic: 1-2 p.m., Laramie Plains Civic Center Phoenix Ballroom.
May 25
Laramie Tai Chi and tea: Meets at 1:30 p.m. at the north end of the stadium in Laramie Plainsman Park, North 15th and Reynolds. For more information, visit laramietaichiandtea.org.
May 26
Caregivers for loved ones with Alzheimer’s/dementia: 3 p.m., meet for coffee, pie, understanding and comradeship at Perkins Restaurant & Bakery, 204 S. 30th St. For more information, call 307-745-6451.
Stitching the Past Together creative aging class: 6:30-8 p.m., Albany County Public Library large meeting room. Students will learn memory-based storytelling through beading techniques in this free course. Register at acplwy.org or at the circulation desk.
May 27
Free stress relief clinic: Noon to 1 p.m., Laramie Plains Civic Center Phoenix Ballroom.
May 28
Free stress relief clinic: 10-11 a.m., Laramie Plains Civic Center Phoenix Ballroom.
May 30
Alcoholics Anonymous meets: Daily at various times in person or on Zoom. For more information, call 307-399-0590 or visit area76aawyoming.org or aa.org.
Survivors of Suicide Support Group: Meets from 5:30-6:45 p.m. at Hospice of Laramie House, 1754 Centennial Drive.
Women for Sobriety meet: 6:30-8:30 p.m. via Zoom. For meeting details, email 1093@womenforsobriety.org.
May 31
Prayers & Squares Quilting Group meets: 9 a.m., Room 1 of Hunter Hall at St. Matthews Cathedral.
Free stress relief clinic: 1-2 p.m., Laramie Plains Civic Center Phoenix Ballroom.
Have an event for What’s Happening? Send it to Managing Editor Greg Johnson at gjohnson@laramieboomerang.com.
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https://www.wyomingnews.com/laramieboomerang/announcements/whats-happening/article_b97be719-fe0b-5ed6-8fb9-ae594482d7dc.html
| 2022-04-21T11:32:41Z
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This map on the Wyoming Game and Fish website shows locations of reported cases of avian influenza in the state. In Southern Wyoming, Albany County has a cluster of cases classified as “high” by the agency.
A pair of turkey vultures found dead this week on the University of Wyoming main campus died of highly pathogenic avian influenza (HPAI).
The university reported Wednesday that state Game and Fish officials collected the birds and submitted them to the Wyoming State Veterinary Laboratory, which is approved to test for HPAI.
While this viral disease may be highly lethal to birds, the Centers for Disease Control and Prevention’s assessment is that HPAI is not a human health concern at this time.
However, there have been rare human infections with this strain of bird flu overseas, according to a UW press release announcing the test results. People should exercise care and avoid contact with sick or dead wild birds and poultry.
Since being detected in the United States in January, the virus has spread to poultry in at least 29 states, affecting more than 28 million domestic birds and untold numbers of wild birds.
The WSVL first detected HPAI in Wyoming poultry in late March. Subsequently, HPAI has been diagnosed in various domestic and wild bird species across the state. Current information on HPAI in the U.S. may be found on the USDA-APHIS website.
People are advised to not pick up or handle any dead wild birds they may encounter and report clusters of dead wild birds to the Game and Fish Wildlife Health Laboratory at 307-745-5865.
If you have domestic poultry or pet birds that are dying or ill, contact a veterinarian who can evaluate the birds to determine if they may be infected with HPAI and arrange to submit appropriate samples for testing.
You also may call the Wyoming Livestock Board at 307-777-8270 or 307-777-6440.
To help mitigate the spread of the virus, Gov. Mark Gordon gave the green light Monday to an emergency rule that states “all poultry events, including exhibitions, swaps, tours, sales and competitions, are prohibited.”
The Game and Fish Department maintains an up-to-date map of wild birds diagnosed with HPAI in Wyoming on the agency’s website at https://tinyurl.com/2p84hafp.
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https://www.wyomingnews.com/laramieboomerang/news/avian-flu-confirmed-in-2-birds-found-on-uw-campus/article_13403885-6641-5bef-94a4-61ab2451a374.html
| 2022-04-21T11:32:48Z
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CHEYENNE — Divisions were drawn among Laramie County School District 1 trustees as they debated a response to reports of racism, at the board meeting Monday night.
Following several hours of discussion on process and the purpose of an official statement from the board, a resolution designed to condemn discrimination and harassment was passed.
The action was prompted by military leadership at F.E. Warren Air Force Base asking for LCSD1 to properly address the harassment and bullying of students of color. Incidents experienced by military members’ children at multiple schools were brought to the attention of Superintendent Margaret Crespo more than a month ago, after which a call to action for faculty and students to mitigate negative behaviors was announced.
However, base commander Col. Catherine Barrington was joined by community leaders in saying it is not enough.
“Our minority children have endured fights, have been called a word we dare not repeat, have been told to go back to a foreign country even though their entire family was born in the U.S. and have been told your own people want you dead,” Barrington testified during public comments. “This an ugliness that is too much to bear and can no longer be tolerated.”
Because of the continued bullying and a lack of safety, she said two of the families have requested early transfers from the base.
“This behavior is unacceptable,” Barrington continued. “And I am willing to work with the school board to make the changes that help protect minorities in our schools. It is my duty. I will not stop until we have clear solutions in place.”
Mayor Patrick Collins followed Barrington in his address to the school board and described the difficult conversations he had with the families about their experiences with hateful conduct directed toward them. He said it was hard to look in the eyes of a father whose son was harassed based on his skin color, and he could see the pain in the father’s eyes.
Although Collins acknowledged LCSD1 administrators, military officials, Cheyenne business leaders and school board members had met previously, he said a strong statement needed to be made condemning racist actions.
“It is all of our responsibility to speak up and condemn these behaviors, and work to protect those being harrassed,” he told trustees. “Superintendent Crespo has been great at understanding and leading, but it’s also important for the elected leaders of the school district to speak up and publicly lead.”
The way the mayor suggested this was done was by drafting a resolution, which is what led to conflict not only between trustees, but also with community members.
While all trustees said they supported condemning violence and bullying in the district, there were complaints about the process.
Since the resolution meant to address racism was not put on the agenda until the day of the meeting, some said there was not an adequate amount of time for members of the board and the public to be informed. The draft of the document was also kept private, meaning the content of the resolution was unknown before it was presented at the meeting.
The timing of the resolution was not the only issue. Board members debated the intention, language and appropriateness of the statement until 10:30 p.m. on Monday.
One of the first points made during the drafting discussion was by trustee Tim Boiln. He said he did not want the resolution to be associated with Cheyenne’s new anti-harassment ordinance, which is meant to address racism in the community. He said the school board was not taking action because the Cheyenne City Council did first, and the school district had made positive strides in inclusivity long beforehand. Others were uncomfortable with the draft because it mirrored the wording of the city ordinance, and not specifically LCSD1 policy.
Similar opinions were held by stakeholders who testified. However, some were against the city ordinance altogether.
“Just because something is an ordinance or a law doesn’t mean that it’s right,” local parent Joshua Fitch said. “There’s been many laws and ordinances in this country that have been inappropriate and wrong, so the City Council made a mistake.”
In regards to issues with wording of the proposed statement, Trustee Christy Klaassen said she wanted to make sure the intent of the resolution was clear so there was freedom to express different ideas. She made sure the words maliciously and intentionally were used only in describing behavior, because students shouldn’t fear debate.
Klaassen said there were concerns that if one person shared a perspective about their values that was different from another person, they might be expelled from a school.
“We’re not talking about the use of the n-word or something like that,” she clarified. “We’re talking about maybe a religious point of view.”
Despite disagreements such as these between trustees for more than two and a half hours, the board did come to a final decision. Members passed the resolution unanimously. The one-page statement is not a change to policy and does not hold the weight of a rule, but rather it is an expression of the board’s view on issues with discrimination and harassment.
“Be it resolved that LCSD1 and the Board of Trustees, in joining with the government, civic and religious groups, civil rights organizations, the business community and others in Cheyenne, reaffirm their commitment to enforce policies strictly prohibiting any activity or speech on district property or at a district sponsored event that maliciously intimidates or harrasses any other person based on the person’s race, color, gender, religion, national origin, disability, age, sex or any other basis protected by federal, state or local law,” it reads in part.
Prohibited behavior includes assault and battery; damage, trespass upon or theft of any personal property; threat by word or act; and any other action prohibited in LCSD1 policy.
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https://www.wyomingnews.com/laramieboomerang/news/cheyenne-school-trustees-pass-anti-discrimination-resolution/article_540d9ac9-df27-5c93-90b4-d8c0b7b7549d.html
| 2022-04-21T11:32:54Z
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Laramie City Council eased some zoning restrictions Tuesday night even as a group of residents lobbied against the ordinance, arguing it will change the aesthetic of some neighborhoods.
Titled Ordinance No. 2044, the new regulations will impact building codes in R1, LR and RR single-family residential areas.
About a dozen people gathered outside Laramie City Hall prior to the council meeting, some with signs urging no votes on the third and final reading of 2044. They weren't allowed inside City Hall because the council has been holding its meetings virtually because of the pandemic.
That didn't dissuade them from trying to get their message across the council members.
“We want space, quiet and quality — not big buildings,” said Carol Adams, who lives in the Alta Vista neighborhood.
“Wide-open spaces is what Laramie is known for,” added Bruce Adams.
The new ordinance changes minimum lot size and setback requirements and eliminates a requirement single family homes have a garage. While city officials say the changes are meant to give developers flexibility to develop more affordable living spaces, building a garage or exceeding the minimum lot and setback requirements will still be allowed for those who want to do so.
The ordinance also allows for accessory dwelling units to be built and rented. These units must have a separate entrance and be smaller than the principal structure on a property. Only one unit per principal structure will be allowed.
The zoning changes have been in the works for months as the City Council continues to work toward its goal of bringing more affordable housing opportunities to Laramie. Last year, the city approved a similar set of changes to multi-family zones.
“Housing affordability has been a tremendous issue in Laramie,” said Planning Division spokesperson Philipp Gabathuler. “All of (the changes) add flexibility to the developer’s tool chest to what they can do. They’re not restrictive, they’re opening up the playbook, if you will.”
Gabathuler said he found newspaper clippings about issues with housing access in Laramie dating back to 1993.
While the city doesn’t have data for the last two years, past studies have shown Laramie second only to Jackson when it comes to a lack of housing affordability in Wyoming. One reason is a gap between home prices and median incomes, said Mayor Paul Weaver.
“The problem is our working young professionals ages 25-44 are very lowly compensated,” said City Manager Janine Jordan.
Council member Fred Schmechel said the lack of housing affordability has made it more difficult for the Laramie Chamber Business Alliance to recruit companies that could bring economic vitality to the area.
Character concerns
During the meeting's public comment period, some residents attending online said the ordinance changes would violate the trust they had in the character of the neighborhoods they choose to live in. Many spent their savings to buy a home where they did.
“It just concerned me that our neighborhood would be changed,” said resident Mundy Aron. “I think the possibility that there would be rentals in a single-family area would mean more parking on the street and just more crowding.
"I don’t see our area as a high-density area, and to me that’s what we’re trying to do with this proposal.”
Those gathered outside City Hall expressed concern they hadn’t heard about the zoning changes enough in advance to provide public comment. Some said they only learned of Ordinance 2044 when they found unsigned fliers in their mailboxes raising concerns about the issue.
(It is a federal crime to place objects in others’ mailboxes.)
“We feel concerned about the way it's been brought up," said resident Nina Rose. "There’s different ideas on how to solve housing issues."
Resident and former City Council member Hugh McGinley said city representatives should strive to go beyond the bare minimum when informing people about potentially significant changes to neighborhoods. He also mentioned that the Zoom format of holding public meetings presents challenges for older people to participate.
After a failed motion to postpone the third reading of the ordinance, it passed 6-3 with "no" votes from council members Pat Gabriel, Brian Shuster and Erin O’Doherty. O’Doherty said that while she personally agrees with the ordinance, she voted against it to be a voice for people in her ward.
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https://www.wyomingnews.com/laramieboomerang/news/city-council-green-lights-zoning-changes-but-not-without-opposition/article_09b19b0f-6811-53fc-aec1-0dcfeb2947f5.html
| 2022-04-21T11:33:00Z
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Casper Star-Tribune
CASPER — Price increases driven by the coronavirus pandemic last year brought a state inflation measure to its highest point in four decades.
The Wyoming Cost of Living Index is a twice-a-year publication done by the Wyoming Economic Analysis Division that studies changes in inflation. The latest report, published April 18, covers the fourth quarter of 2021, which covers October, November and December.
Inflation in Wyoming rose 9.3% from the fourth quarter of 2020 to the fourth quarter of 2021, the report found.
The last time Wyoming saw a spike that high was the third quarter of 1981, which posted a year-over-year inflation rate of 11.8%. That was during the economic recession of the early ‘80s.
The pandemic has taken prices on a roller coaster, but early last year is when inflation really began to surge, according to data from the National Bureau of Economic Research, a nonprofit group that studies the U.S. economy.
The last Wyoming Cost of Living Index report, which came out in October, recorded a 7.7% inflation rate between spring 2020 and spring 2021. That same measure was just 1.1% a year prior.
The index measures inflation rates for six consumer categories:
Transportation in Wyoming recorded the highest increase at 22.1%. It’s little wonder — oil prices have risen dramatically since tanking at the beginning of the pandemic.
Food underwent an 8.3% increase. By comparison, food costs rose just 1.9% from the second quarter 2020 to the second quarter of 2021.
Housing had the next highest inflation at 7.4%.
Recreation and personal care underwent a 6.7% price increase.
Medical costs recorded a 4.3% increase and apparel recorded an increase of 3.3%.
The higher food prices come at no surprise. In Wyoming — where most of what we eat is shipped in from elsewhere — higher transportation costs equal higher food costs.
“Our food bill has doubled,” said Jamie Purcell, founder and executive director at Wyoming Food for Thought.
For now, the social safety net is helping to keep people fed, Purcell said.
Public schools across the nation still offer kids free breakfast and lunch, no questions asked, on the U.S. That program is set to wear off at the end of June.
In March 2020, the federal government temporarily expanded food stamps and other social programs. While that measure’s no longer in effect, the Biden Administration in August approved permanent changes to food stamps that were expected to up average benefits by about a quarter, the New York Times reported last year.
Still, Purcell anticipates the price hike to catch up with families in six months or so. In the meantime, she encourages Wyoming residents to enroll in whatever assistance programs they can — food stamps, free and reduced lunch for kids or the Emergency Rental Assistance Program, for example — and to take advantage of local resources like food pantries.
Some regions of the state have been hit harder by inflation than others, the cost of living index shows.
Northeast Wyoming, which includes Campbell, Crook, Johnson, Sheridan and Weston counties, had the highest rate, at 10.4%.
Southeast Wyoming — Albany, Carbon, Goshen, Laramie, Niobrara and Platte counties — followed close behind with an inflation rate of 10.2%.
Central Wyoming, which includes Natrona, Converse and Fremont counties, experienced 7.4% inflation.
Nationally, the inflation rate from December 2020 to December 2021 was 7%, according to data from the U.S. Bureau of Labor Statistics.
The report also compares the costs of living in each county.
In the fourth quarter of 2021, Teton County had the highest cost of living, at 65% higher than the statewide average. As a popular tourist destination, Teton has one of the highest per-capita incomes in the country. As of late 2021, an apartment in Teton County averaged $2,780 a month, according to the index. An average apartment in Natrona County ran $771.
The cost of living in Natrona County is on par with the rest of Wyoming, just 6% lower than the statewide average. Laramie County, by comparison, recorded a cost of living just 5% higher than the average.
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https://www.wyomingnews.com/laramieboomerang/news/cost-of-living-grows-by-fastest-pace-in-40-years/article_f16af491-3f31-561d-a25e-435f19c40561.html
| 2022-04-21T11:33:06Z
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A judge in Rawlins on April 15 rejected a motion to dismiss criminal trespass charges against four hunters accused of corner crossing but said she would consider requests to delay their trial.
Carbon County Circuit Court Judge Susan Stipe said the outcome of a separate, ongoing civil trespass suit involving the same 2021 hunting incident could affect the criminal case in front of her. It is scheduled to be tried before a jury starting April 27.
“Having this jury trial … may be the cart before the horse,” Stipe said. The separate civil suit, brought by the owner of the Elk Mountain Ranch where the men are accused of trespassing, could undo the foundation of the criminal case before her, she suggested.
Four Missouri hunters have pleaded not guilty to the trespass charges and contend they stepped from one piece of public land to another — at the intersection of two public and two private sections — without setting foot on private property. The case involves the checkerboard pattern of land ownership in parts of Carbon County where private and public land are interspersed.
The cases hinge on whether a person passing through the airspace above a private piece of land is trespassing, and their outcomes may impact public access to millions of acres of public land in the West.
Stipe declined defense attorneys’ requests to dismiss the trespass charges, saying she found no grounds under her authority to throw them out. Because she ruled from the bench Friday and lawyers needed time to confer with their clients, she said she would consider a delay of the April 27 trial, if requested, at another hearing Friday.
As the hunters, prosecutors, defense attorneys and court personnel prepare for the criminal trespass jury trial in Rawlins, the Elk Mountain Ranch owner told a federal judge he should move the case back into the Wyoming court system. An attorney for Fred Eshelman outlined reasons to federal judge Scott Skavdahl in a memo filed Thursday.
Skavdahl on March 1 accepted a transfer of the civil case from Carbon County District Court to his federal venue. Eshelman’s attorney objected last week, calling the transfer “an attempt to impermissibly derail state court proceedings.” Attorney Gregory Weisz, representing the ranch’s holding company Iron Bar Holdings LLC, asked that it immediately be returned to Wyoming’s jurisdiction.
Hunters’ attorneys “raise federal defenses that are, at best, speculative,” Weisz wrote. Further, the hunters’ claims that the value of the civil litigation meets the minimum $75,000 federal threshold are “threadbare allegations.”
Eshelman and Iron Bar make their civil trespass claims only under state laws, Weisz wrote. The case “does not rely on any federal statute …”
Just because the alleged trespass involves the hunters stepping from one piece of federal Bureau of Land Management land to another does not mean the issue should be adjudicated in the U.S. District Court for Wyoming, Iron Bar says.
“If the other [checkerboard] parcels of property were owned by another private landowner as opposed to the BLM, Plaintiff would have still brought its claims … in state court,” the filing states. The federal Unlawful Inclosure of Public Lands Act that generally prevents landowners from fencing others out of federal land does not apply to the Elk Mountain Ranch civil complaint, Weisz contends.
“Plaintiff’s Complaint focuses on the validity of Plaintiff’s private property rights, the legal ability to exclude others from its property, and a determination of whether Defendants unlawfully trespassed upon the airspace above Plaintiff’s private property,” he wrote. “[T]here simply is no ‘substantial federal interest’ that would warrant removal of the case … from Wyoming courts to federal court.”
Many believe that resolution of the unsettled corner-crossing trespass question in a federal venue would address access to millions of acres of public land across the West that are now “landlocked” by any interpretation that corner crossing is illegal.
Weisz made other arguments to support return to Wyoming jurisdiction, while an attorney for the hunters maintained that the case belongs before a federal judge.
In circuit court Friday Judge Stipe also called prosecutors’ motion to limit the distribution of public court documents a request for a “gag order.” She denied that motion.
During a two-and-a-half-hour hearing, she listened to prosecutors’ request for an order “to limit prejudicial pretrial communications with the media and release of information.” That request apparently included even the distribution of public court documents.
Carbon County Prosecutor Ashley Mayfield Davis told Stipe there is “too much media attention” on the case and that it is being tried in the media instead of in front of a Carbon County jury.
Media coverage of the case is such that it would be hard to find a venue, even “on a desert island,” where denizens were not aware of the dispute, Davis told Stipe.
The prosecutor’s request is for “what I’m going to call a gag order,” Stipe said.
“I’m concerned about that issue,” Stipe said. “I’m guessing the media is also concerned.
“Any motion for a gag order is hereby denied,” she said.
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https://www.wyomingnews.com/laramieboomerang/news/judge-mulls-delay-in-corner-crossing-trial-rejects-gag-order/article_afa7d148-05db-5ec2-aa87-100859082192.html
| 2022-04-21T11:33:13Z
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Ultimate fan Ursula Merkle, played by Alexis Boudreau, interacts with heartthrob Conrad Birdie, played by Sky Spisak, while Deborah Sue (Anna McKinley) and crowd looks on during a dress rehearsal of the Laramie High School production of the musical comedy “Bye Bye Birdie.”
Laramie High School’s presentation of the musical comedy “Bye Bye Birdie” promises a fast, enjoyable and funny ride through teen angst in the late-1950s rock ‘n’ roll culture.
The LHS Theatre Department has been hard at work putting the finishing touches on the play, which opens tonight in the school’s theater.
Sophomore Declan O’Connor plays Hugo Peabody, a teen who discovers his girlfriend Kim McAfee (played by senior Emma Master) is going to be kissed on national TV by rock ‘n’ roll sensation Conrad Birdie (junior Sky Spisak).
The kiss is a symbolization of his farewell to all his fans as he’s been drafted into the Army.
McAfee is “the stereotypical teenage girl,” Master said, describing the character as 15 going on 32. She’s “romantic and kind of ditzy.”
She explores many relatable emotions parents experience with their teens, and teens with each other, she said.
The kiss publicity stunt was hatched by Rosie Alvarez, played by senior Jazmyn Aguinaga.
Aguinaga is a Hispanic secretary and love interest of Albert Peterson, Conrad Birdie’s agent. As the bad news is received by a distraught Albert, Rosie concocts a plan to capitalize on the fans’ mourning their idol going off to war.
Albert will write a hit song, titled “One Last Kiss,” that will be sung by Conrad on the “Ed Sullivan Show” in front of millions of viewers. He will then plant a kiss on the lucky randomly-selected Kim McAfee, the randomly selected president of the Conrad Birdie Fan Club in Sweet Apple, Ohio.
Rosie envisions fame and fortune for Albert, who will cut maternal ties with his ever-present mother, Mae Peterson (senior Lauren Frick) and become the respectable English teacher that Rosie will marry to begin the perfect life together.
Aguinaga said she appreciates the strength her character portrays as a Hispanic female trying to break through cultural barriers.
She said Rosy Alvarez is “a confidant character who knows what she wants and doesn’t give up.”
Senior Chase Nylander plays Albert, and said playing this frazzled, yet optimistic, character has given him a personal commitment to also look for others around him who need to be cheered up.
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https://www.wyomingnews.com/laramieboomerang/news/local_news/lhs-players-wave-bye-bye-to-birdie/article_f476b077-503b-5e3b-818e-9b0872dddf8c.html
| 2022-04-21T11:33:19Z
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Adding carbon-capture systems to existing coal-fired power plants in Wyoming could cost the average residential ratepayer an additional $100 a month, according to Black Hills Corp.’s initial filings to the Wyoming Public Service Commission.
The retrofit costs alone could range from $400 million to $1 billion for each coal unit, according to PacifiCorp, which operates as Rocky Mountain Power in Wyoming. Adding carbon capture utilization and storage technologies would also significantly reduce electrical generation efficiency at the coal plants, further ramping up the expense for ratepayers. Generation efficiency could be reduced 14%-35% at Wygen II and Neil Simpson II near Gillette, according to Black Hills Corp.
Both PacifiCorp and Black Hills Corp are moving forward with feasibility studies to further analyze whether it is viable to apply CCUS at five coal-fired power units in Wyoming.
The studies stem from a 2020 legislative mandate written into House Bill 200 – Reliable and dispatchable low-carbon energy standards. Now law, the Wyoming PSC is wrestling with how to administer what some refer to as a coal-CCUS portfolio standard — the only such portfolio standard in the nation. It requires regulated utilities to determine how much CO2 capture can be applied to existing coal plants and still justify the costs to ratepayers. One preliminary conclusion by PacifiCorp and its consultant Kiewit Engineering Group, Inc. suggests that capturing 40% or more CO2 emissions would not prove economic for coal units included in its analysis.
Lawmakers who supported HB 200 hoped a large price tag for adding CCUS might be justified when also factoring new jobs and revenue from selling the CO2 that’s captured from coal plants. The sold product could be utilized to produce untapped oil reserves and potentially create new CO2 byproducts. However, regulated utilities typically cannot include factors outside their scope of services in a request for ratepayer increases, such as tertiary oil production or the value of potential CO2 byproducts.
House Bill 200 proponents also sought to minimize the ratepayer burden by allowing the PSC to establish a cap for incremental rate increases. The commission in November set a 2% cap, potentially preventing something on the order of a $100-per-month increase. But regulated utilities must be allowed to charge ratepayers for full capital and implementation costs, which could result in extending the period that a utility charges ratepayers for a CCUS investment — potentially by decades.
PacifiCorp estimates the 2% cap could generate a maximum $13.1 million annually for a CCUS project that costs between $400 million and $1 billion.
“That means, presumably, you’d have to run [some coal units] for another 50 years,” Powder River Basin Resource Council attorney Shannon Anderson said. “If that doesn’t happen, then at some point ratepayers are going to be paying for systems that we are no longer using.”
State regulators are still wrestling with many questions and assumptions regarding the coal-CCUS feasibility mandate, PSC Chief Counsel John Burbridge said.
“There certainly is a lot of discussion about the cost of installing CCUS on currently operating coal units,” Burbridge said, adding that the new statutes stemming from HB 200 allow a utility to forego installing CCUS on a coal plant if it can prove to the commission it is not viable for ratepayers. “If they can show that, and convince the commissioners that this just isn’t economic for the customers, then I think it just kind of dies a slow death.”
Another result is that Wyoming ratepayers alone would likely shoulder the cost, Anderson said.
PacifiCorp serves customers in six western states, including Wyoming. Typically, all six states negotiate to divide the cost of PacifiCorp’s capital investments based on each state’s reliance on a particular facility. However, states like Oregon and Washington may decline to take on power from a Wyoming-mandated coal-CCUS investment.
That could change if there were a federal carbon capture standard, but observers don’t anticipate that happening anytime soon.
“It just doesn’t make sense unless there’s some environmental mandate from [the Environmental Protection Agency] or Congress or somebody,” Anderson said. “It just doesn’t make sense when wind and solar are right there and so much cheaper.
“These filings are the first real numbers we’ve seen on what carbon capture means to the average consumer in Wyoming,” Anderson continued. “These are incredible penalties, really.”
Although it’s made no final determination and is still collecting third-party analysis for a complete CCUS feasibility study, PacifiCorp is asking the Wyoming PSC to approve a 0.5% surcharge to all its Wyoming customers to help pay for the mandated studies — which are already in motion — as well as implementation costs if the utility moves forward with a CCUS retrofit.
If approved, the new surcharge would generate $3.1 million in revenue from PacifiCorp’s Wyoming customers annually. The same surcharge — if extended to the 2% cap — could generate up to $13.1 million annually if it and the PSC eventually greenlight a CCUS retrofit, according to PacifiCorp filings.
A public comment period regarding PacifiCorp’s request [Docket No. 20000-616-EA-22] for the 0.5% surcharge ends on April 22. Public comments can be sent to wpsc_comments@wyo.gov.
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https://www.wyomingnews.com/laramieboomerang/news/utilities-mandate-could-spike-monthly-bills-by-100/article_282d04d5-f724-5252-b738-17c77ae35a97.html
| 2022-04-21T11:33:25Z
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JACKSON — Sam Stein, a firefighter for Jackson Hole Fire/EMS Station 1, is returning home after spending nearly two weeks in Ukraine on a relief mission.
Stein spoke about the highs and lows, from delivering necessities to spending Easter recovering bodies in the war-torn country.
The team first landed in Poland, where they organized supplies and drove into Ukraine.
“In Poland it was mostly meeting the team and starting to build the camaraderie,” Stein said. “We ended up getting into Ukraine, no problem, with our humanitarian driver.”
One of the first acts of business for Task Force Joint Guardian, a group composed of 11 firefighters, nine from the U.S., one from Germany and one from Australia, was an unplanned delivery of aid. A Jackson woman had a friend in crisis in Bucha.
The Ukrainian woman “was desperately in need of food, water, supplies, a generator, clothes and fuel,” Stein said. “We pulled some strings and were able to ensure she’s getting a full pallet of aid.”
Stein said the team spent its days clearing buildings and recovering bodies. Stein estimates he helped the team clear six to eight buildings in total, although it was hard to tell given that it was all mostly rubble.
On Saturday Stein and the team cleared roughly four large apartment buildings that were hit by a 500-kilogram bomb. One of the buildings was a nine-story apartment where the team helped with body recovery.
“On Sunday we did body removal on two buildings and were successful,” Stein said.
One of these structures was a house in which the team recovered the body of a 42-year-old man in the debris. Neighbors said his name was Vlodymyr.
“He was screaming for two days and neighbors couldn’t get to him,” Stein said. “He was crushed from the artillery strike.”
Stein said the men try to distance themselves from the personal details but, when it’s safe to do so, they pause for a moment of silence. Although it’s not always the best to be standing around in a war.
While in Hostomel, Stein also helped deliver extrication tools to the fire station and stopped at outposts along the way to deliver cold weather gear to soldiers.
On Monday the team was attacked with rockets as it was working to clear toppled buildings, searching for bodies while working around grenades, mines and tripwires left by Russians. Stein said no one on his team was hurt.
Stein said he observed grenades in doorways and on tripwires in civilian areas. Even benign bathroom breaks were punctuated with discarded bullet cartridges and land mines.
“Coming into Kyiv, we saw lots of tanks destroyed on the west side,” Stein said. “We also found shells from Russian AK rifles littered on the ground when we got out to use the bathroom. When we started to walk into the trees to bathroom break right off the highway, the security escorts ran at us and yelled ‘not safe, not safe’ because they hadn’t cleared the mines yet.”
Thursday evening was spent dipping in and out of a bunker several times.
“We were in Lviv and had several alerts and air raid sirens,” Stein said. “We had to take cover; luckily none were around us. There’s been action here since we got here but nothing too significant besides the mines and traps the Russians left for us, and we’ve spotted them.”
Luckily, Easter was quiet for the team although a larger attack may be imminent.
“There were a few rocket attacks last night but it’s quiet so far,” Stein said. “The 24th is actually when they celebrate Easter here, so a major attack is now projected to be later. Most militaries have large-scale attacks on holidays.”
Even while grappling with daily destruction, Stein found fulfillment in the work.
“The most rewarding part of the entire experience has been the Ukrainian people,” Stein said. “The firemen are so welcoming and are beyond overjoyed when they see us helping them. They are so overworked and in danger every day, yet they smile and laugh.”
Stein returned stateside Tuesday, at which point the team distributed the remaining supplies and firefighting equipment. Stein said he wasn’t sure how long the rest of the team plans to remain in Ukraine.
One thing that he’s taking with him is the brotherhood.
“The brotherhood of the fire service is universal,” Stein said. “Also the amount of camaraderie between our team is insane. To not know these people for more than a week and all of a sudden have three best friends I’m working with is incredible.”
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https://www.wyomingnews.com/laramieboomerang/news/wyo-firefighter-returns-from-ukraine-relief-mission/article_7138c1f3-dd3f-5bea-9d77-e613d81fa1c9.html
| 2022-04-21T11:33:31Z
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Electricity generation projects in Wyoming harnessing the power of wind are moving forward, and the industry is a fairly major player in energy production. Just like fossil fuels are abundant here, so, too, is wind as a natural resource.
Part of the reason for increasing demand for wind power is an additional emphasis on renewable energy projects. And some aspects unique to Wyoming are also driving development of the industry in the state.
The state's topography provides for a funneling effect created by diagonally oriented mountain ranges that push air currents toward the south-central area of the state. These regularly occurring gusts rival the strongest in the world and pose a hazard for light trailers and high-profile vehicles. Conversely, they represent an untapped opportunity for Wyoming to become a leading producer of this energy, which is harnessed without creating additional harmful chemical emissions.
The U.S. Department of Energy recognizes wind as a potential energy resource in every state. In 2008, the department set a goal to have 20% of energy nationwide generated by wind by 2030, and that number increases to 35% by 2050.
Existing infrastructure in Wyoming ranks the state 17th in terms of annual wattage generated. Among approximately 20 wind farms around the state, most are situated in Converse and Carbon counties and produced an estimated 3,179 megawatts in 2021. To put that in perspective, the Solar Energy Industries Association estimates 1 megawatt of solar can power 164 U.S. homes. Therefore, Wyoming’s existing wind power infrastructure represents energy to support more than 500,000 homes.
There is a project underway just south of Rawlins that will, when complete and in full operation, nearly double the state’s annual wind-generated wattage.
“Our project is unusual for Wyoming and nationwide for a number of reasons,” Power Co. of Wyoming spokesperson Kara Choquette said of the Chokecherry and Sierra Madre Wind Energy Project. “One is that it’s located, in part, on land that belongs to the (Bureau of Land Management). Most wind projects are on private land or state land. Only about 1% of wind power nationwide is on federal lands today.”
Choquette explained that developing wind power on federal land requires a more lengthy permitting and developing process that includes everything from multiple public hearings to completing intricate environmental and geological studies to determine how to proceed in a way that represents a best-case scenario for various interests. The BLM land south of Rawlins is part of the “checkerboard” land distribution that originated after the development of the railroad in the same area.
The second reason Choquette gave that makes this wind project unique is that it will be placed on land owned by the company. PCW is a subsidiary of Anschutz Corp., a holding company based in Denver and owned by billionaire Philip Anschutz, who has diversified interests in both renewable and nonrenewable energy. The ranch along Interstate 80 is and will continue to operate as a working cattle ranch, as well.
The project will consist of approximately 900 turbines that represent an initial $5 billion investment. The permitting process and initial construction phase, which largely involves making roads and sites for turbines, has been ongoing for more than a decade. Today, the projected completion date is 2026.
PacifiCorp, another major energy company in the state that owns Rocky Mountain Power, announced last summer it was planning four new wind projects in Wyoming that would add an estimated 1,150 megawatts of new generating capability.
Logistics
In addition to increasing production capacity, an additional consideration of wind farm development is the logistics of how to get the power to where it will be used.
Much of the power generated in Wyoming is sent around the western U.S., especially the Southwest, where demand for clean power is high. Delivering energy across hundreds of miles requires establishing and maintaining infrastructure.
In addition to adding turbines at Cedar Springs, Ekola Flats and TB Flats, PacifiCorp is construction 140 miles of high-voltage transmission from a newly built station near Medicine Bow to another substation near the Jim Bridger Power Plant by Point of Rocks.
“The new transmission eliminates existing constraints, connects the new generation resources to customers and enhances network reliability with deployment of advanced voltage control technology,” PacifiCorp said in a news release.
"In terms of available non-emitting generation resources, wind stacks up very well, and will continue to be an important resource for meeting PacifiCorp’s ongoing need for new generation resources to reliably serve customers," said PacifiCorp spokesperson Jasen Lee, adding that the company's integrated resource plan anticipates adding more than 3,700 megawatts of new wind resources by 2040.
Lee said the proven nature of wind technology and favorable wind conditions in the state make for safe investing in wind energy.
"Other factors include the increasing efficiency of wind as the technology is scaled to higher nameplate capacities and larger rotor diameters, and PacifiCorp’s experience as an operator of these resources in Wyoming and knowledge of what is necessary to operate these resources in a manner that benefits local communities and addresses potential avian and other environmental impacts," Lee said by email.
According to the American Clean Power Association, there are many myths about wind power that need to be put to rest. One is that it takes more energy to manufacture and build a wind turbine than that same turbine will produce. In actuality, an average turbine neutralizes its carbon footprint in under six months, and can generate emission-free energy for 20 to 30 years afterward. In general, the cost of generating wind power has declined by 65% over the last 10 years, making it one of the cheapest sources of new electricity in many geographical areas.
Other frequent concerns brought forward during public hearings have to do with the associated noise and shadow flicker, or light disturbances caused by rotating blades, associated with the turbines. Science has shown wind farms do not cause any negative physical health effects to people.
Wind projects have existed in Wyoming for decades and have experienced slow and steady expansion. Additionally, ongoing technological improvements promise increasing efficiency. In 2022, wind power comes in fourth nationally as a source of zero-emission power generation.
“There’s room for everything in Wyoming,” Choquette said. “It’s a state blessed with many resources that have many different markets. I’m always talking about both and all — it’s all of the above. It’s how do we get to net zero and put all the pieces together.”
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https://www.wyomingnews.com/laramieboomerang/news/wyoming-s-wind-energy-production-moves-ahead/article_13fa3495-b706-5f6c-80bd-a8d4771a347d.html
| 2022-04-21T11:33:37Z
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What is the broadest and most general government authority in the United States of America? It’s the United Nations, which has worldwide authority.
Per the Supremacy Clause of our Constitution, ratified treaties, including the United Nations Charter, have the same authority as federal law, though neither law nor treaties can supercede the Constitution itself.
The United Nations was born in wartime, conceived by President Franklin Delano Roosevelt, and encompassed all of the Allied powers of World War II. The U.N. Charter was drafted before the war ended and ratified by a bipartisan vote of 89-2 in the U.S. Senate.
Consistent with American ideals, the U.N. is a limited government with no direct power to tax people and with a focus on preventing aggression.
Which brings us to Russia’s invasion of Ukraine.
Russia has a veto in the U.N. Security Council but the U.N. General Assembly condemned Russia’s invasion by an overwhelming majority of 141-5. Russia was expelled from the U.N. Human Rights Council and faces legal proceedings through the International Court of Justice.
Properly used, the United Nations can substantially help Ukraine and its cause of peace, best understood with quotes from the U.N. Charter: “The Purposes of the United Nations are: 1. To maintain international peace and security, and to that end: to take effective collective measures for the prevention and removal of threats to the peace, and for the suppression of acts of aggression ...
“All Members shall settle their international disputes by peaceful means in such a manner that international peace and security, and justice, are not endangered. ...
“All Members shall refrain in their international relations from the threat or use of force against the territorial integrity or political independence of any state ....”
The Security Council’s authority in matters of security supercede the authority of the General Assembly if the Security Council is acting on an issue, per Charter Article 12. However, that provides leeway for the General Assembly to act when the Security Council does not.
What often blocks Security Council action is the veto power of the five permanent members, making the General Assembly’s backup authority even more important.
Per Article 23, “The Republic of China, France, the Union of Soviet Socialist Republics, the United Kingdom of Great Britain and Northern Ireland and the United States of America shall be permanent members of the Security Council.”
The Russia-Ukraine war is being characterized as a Russia-Ukraine-NATO war. It is in our interests, and Ukraine’s, for the war to be Russia against the rest of the world, or at least much of the world, using the strong support for Ukraine that exists in the United Nations.
This would not be the first war the U.N. has fought; the 1950-53 Korean War was fought by the United Nations against North Korea and Communist China with Security Council authorization, as the Soviet Union was boycotting the council and Taiwan then held the Republic of China seat.
In this new war, Ukraine and its allies would have General Assembly support, bypassing Russia’s present Security Council veto.
First, the General Assembly could authorize a no-Russian aircraft zone over Ukraine enforced by air power from United Nations members. Such a zone should allow Ukrainian aircraft to operate, as Russia is the aggressor.
We have correctly avoided a NATO no-fly zone, but if a no-Russian aircraft zone is enforced by, for example, African and South American pilots flying from Moldovan air fields, then NATO is not directly involved.
Second, the General Assembly could eliminate Russia’s Security Council veto. Per the Charter, the Soviet Union, which ended in 1991, is a permanent member of the council, not the Russian Federation, one of 15 successor nations formed from the former Soviet Union. Russia took the seat without any formal authorization by the General Assembly.
The General Assembly by a two-thirds vote could declare the Soviet Union’s seat on the Security Council vacant.
More controversial still, it could declare that the Russian Federation, as a different nation, must apply for U.N. membership.
Most controversial, as Ukraine also is a Soviet successor state, would be to name Ukraine as the successor to the Soviet Union as a veto-wielding permanent member of the Security Council.
The General Assembly also could authorize ground troops from U.N. members to enter the conflict, with precedents dating to the 1956 United Nations Emergency Force dispatched to Egypt. When paid professional soldiers from 100 countries enter Ukraine to oppose the Russian invasion, it will be quickly defeated.
Other actions the General Assembly could take include issuing Interpol Red Notices (international arrest warrants) for Vladimir Putin and others involved in Russia’s invasion, declaring Russia’s responsibility to make reparations to Ukraine and encouraging a complete international embargo on Russian trade.
Ignored, misunderstood and underused, the United Nations project is a second fulfillment of the motto on America’s Great Seal, e pluribus unum (out of many, one).
In 2022, supporting Ukraine and defeating Russia are the causes that unite the nations.
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https://www.wyomingnews.com/laramieboomerang/opinion/contributed_columns/un-could-unite-world-against-russian-invasion/article_a194c230-2466-5bc3-9096-b73a924831f7.html
| 2022-04-21T11:33:44Z
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It’s hard to believe, but I actually agree with Wyoming Gun Owners: We both think the state’s new Second Amendment Protection Act is a sham.
Where we part ways is that while WyGO is fighting mad that it passed, I’m not upset.
Am I conflicted about this fleeting kinship with a group whose sole purpose appears to be using gun-grabber boogiemen and fictional assaults on our Second Amendment rights to rake in donations and sow political discord? You bet. It’s a prime example of the old adage that politics makes strange bedfellows.
But I can live with knowing 43 House and 22 Senate members who approved the act can proudly tell gun-owning voters they stood up for their rights. Of course, no one in Wyoming actually needed any additional protections to keep their guns. It’s often said that Wyoming has more guns per capita than any other state in the union, and we’ve long been one of the gun-friendliest states going. So the legislation is just a shameless political ploy, and one I would normally condemn.
But these same lawmakers killed WyGO’s Second Amendment Preservation Act, a dangerous bill that would have made law enforcement agencies and officers vulnerable to lawsuits for enforcing federal gun regulations. That was truly a public service.
While the “Protection Act” (I’ll call it SAPA 1) is now state law, backers of the “Preservation Act” (SAPA 2) are seeking revenge at the Aug. 16 primary election. They’ve promised a bloodbath.
To untangle this weird web, let’s start with the 2020 GOP primary election, when WyGO targeted three Republican incumbents it branded “gun grabbers”: Sen. Michael Von Flatern of Gillette, and Reps. Dan Kirkbride of Chugwater and Bill Pownall of Gillette. All three lost, defeated by WyGO-endorsed candidates who also won in the general election.
Sen. Anthony Bouchard (R-Cheyenne), former WyGO director, sponsored a SAPA bill during the 2021 general session. In addition to preventing the enforcement of all federal gun laws in Wyoming, it required the attorney general to defend anyone accused of violating such laws.
Sen. Larry Hicks (R-Baggs), who is no Second Amendment foe, successfully watered it down with amendments, to the point Bouchard actually voted against his own bill.
It passed the Senate, 24-6, but the House never even considered it.
This year, Bouchard returned with SAPA 2. It allowed any state agency or law enforcement officer who “infringed” on citizens’ Second Amendment rights to be sued. Successful aggrieved parties would receive a minimum or $50,000 per violation.
Hicks countered with SAPA 1. His bill prevented agencies and officers from knowingly enforcing unconstitutional federal gun laws. Violating the law is a misdemeanor punishable by up to one year in prison and/or a fine up to $2,000.
A bill similar to Bouchard’s was approved in Missouri last year. Its constitutionality has been challenged by the U.S. Department of Justice and state agencies.
The Senate killed SAPA 2, 9-21. Bouchard and WyGO launched an all-out attack against Hicks’ bill.
SAPA 1 was approved by about 3-to-1 margins in the Senate and House. Supporters included Gun Owners of America and the Wyoming Association of Sheriffs and Chiefs of Police.
The GOA calls itself the nation’s “only no compromise gun lobby.” It is positioned to the right of the NRA, which it charges represents the gun industry at the expense of gun owners.
To the extreme right of both groups is a coalition of a dozen state organizations, including WyGO. An outgrowth of the older National Association for Gun Rights, the cabal is led by WyGO Director Aaron Dorr of Iowa and his brothers, Chris and Ben Dorr.
Aaron Dorr accused the GOA of delivering “a knife to the back of Wyoming gun owners” by endorsing Hicks’ bill. But the GOA and others have accused the Dorrs of milking money from gun owners without actually lobbying for any meaningful pro-gun rights legislation.
GOA contends Hicks’ version “was simply a better bill capable of withstanding judicial scrutiny.”
But the Tenth Amendment Center, a states-rights group, said the law “is all bark and no bite.”
TAC’s Michael Boldin said it prohibits agencies from enforcing “unconstitutional” Second Amendment provisions, requiring courts to rule before the state law applies.
Because the new law states one must “knowingly” violate it, Boldin said prosecutors must prove beyond a reasonable doubt one was fully aware his or her actions violated the law but did it anyway. He predicted no one will ever be prosecuted.
WyGO says it has many challengers lined up to face unrepentant GOP incumbents in the primary.
In 2020, the group kept taunting the defeated Von Flatern. “Your mistake was in thinking that WyGO was like every other lobby group, that we would eventually want to play nice,” it posted on Facebook. “We don’t want to play nice, we want to save our freedoms.”
WyGO also wants to keep stoking members’ fears to prime its money machine. The Dorrs and GOA may not agree about much, but they have one thing in common: A well-timed failure can keep them laughing all the way to the bank.
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https://www.wyomingnews.com/laramieboomerang/opinion/guest_column/wyoming-s-gun-advocates-are-forming-a-circular-firing-squad/article_89c8c53d-7f59-5dff-b346-6459f2c43526.html
| 2022-04-21T11:33:50Z
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“If it was not the most important decision in the history of the Court,” Justice Stanley Reed observed of Brown v. Board of Education, “it was very close.”
The Supreme Court’s opinion in Brown, delivered on May 17, 1954, held segregation in public schools unconstitutional, a decision that paved the way for the removal of racial discrimination from American law. By any measurement, the ruling placed Brown in the pantheon of America’s greatest judicial decisions.
Justice Reed, the last of the three Southern members of the Court to join the unanimous opinion of Chief Justice Earl Warren – who had concluded that there were no factors outweighing “a fair treatment of Negroes” – had tears in his eyes as he and his brethren, and a packed courtroom of reporters and observers, listened to the chief justice read his entire opinion, one more closely guarded than any in the history of the High Tribunal.
Chief Justice Warren took unprecedented steps to protect the secrecy of the Court’s opinion. The justices agreed that a decision of such magnitude should be written and delivered by the chief justice. The extreme secrecy of the drafting of Warren’s opinion, a reflection of the Court’s understanding of the impact of the decision in the South, was summed up by Warren’s note: “I need hardly add that the typewriting was done under conditions of strictest security.”
The Justices’ efforts to maintain secrecy meant withholding from their law clerks word of the Court’s decision to overturn Plessy v. Ferguson. There was no entry of any action placed in the Court’s docket, kept by the justices and shared with their clerks. It was agreed that the only clerks that would be involved would be Warren’s and that any written communications would be delivered to the justices personally.
Warren’s usual approach to drafting an opinion was abandoned in Brown, in the name of security. Typically, he left the drafting of opinions to his clerks, after orally outlining the facts of the case and the desired conclusion. Clerks would fill in the reasoning and supply the necessary footnotes. In Brown, however, Warren wrote the first draft, titled “Memorandum,” in pencil on yellow legal pads. The draft ran nine pages. It reflected Warren’s penchant for opinions that were short, free of technical jargon and Latin phrases and, most of all, accessible to lay readers. Like Justice Hugo Black, Warren believed that Supreme Court opinions should be written for the general public. Warren’s draft was remarkably like the final opinion, which underwent review by his clerks and the justices.
After Chief Justice Warren finished his draft opinion, he informed his clerks of the Court’s unanimous decision to overturn Plessy and swore them to secrecy. He noted that nobody beyond the justices themselves knew of the decision, not even his wife. The clerks were given the weekend to work over his draft opinion. When the “team effort” was finished, Warren personally delivered the opinion to his colleagues, in their chambers. As it happened, Justice Black’s copy was delivered to him while he was playing tennis in Alexandria, Virginia. The final draft was printed on May 13, four days before the opinion was announced, and locked away in a vault. No copies were made.
On May 17, the justices informed their law clerks that they would want to attend the Court’s announcement of its ruling on Brown, known as “the segregation case.” Chief Justice Warren later noted that there was a palpable tension in the courtroom. Anticipation of the Court’s ruling was high, and the room was filled, with reporters standing at the back of the room, ready to race to telephones to share the ruling with their editors. The wives of the justices were in court that day, a rare occurrence reserved for historic rulings.
Justice Robert Jackson, who lay critically in a local hospital, dragged himself to the Supreme Court to demonstrated “our solidarity.” At 12:52 p.m., after the Court had announced its rulings in other cases, Chief Justice Warren stated: “I have for announcement the judgment and opinion of the Court” in Brown v. Board of Education of Topeka, Kansas.
Warren’s deep voice filled the Marble Palace. He provided, first, the background of the case, that “Plaintiff Negroes” were seeking admission to public schools on a nonsegregated basis. Under Plessy v. Ferguson and separate-but-equal, they were denied relief. They asserted that segregated schools were not “equal” to schools that white children attended and that they could not be made equal, which violated the Equal Protection Clause of the 14th Amendment.
Warren next turned to the great question presented in the case: “We must look to the effect of segregation itself on public education.” The chief stated, “Today, education is perhaps the most important function of state and local governments. It is doubtful that any child may reasonably be expected to succeed in life if he is denied the opportunity of an education. Such an opportunity, where the state has undertaken to provide it, is a right which must be available to all on equal terms.”
And then, Warren asked the crucial question: Does segregation of children in public schools based solely on race, deprive Black children of equal educational opportunities?
We turn next week to the content of the Court’s answer.
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https://www.wyomingnews.com/opinion/guest_column/adler-the-brown-decision-and-americas-commitment-to-equality/article_6f7f6963-4248-550a-b9d6-ede6f5f7459a.html
| 2022-04-21T11:33:56Z
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To Whom It May Concern:
I am totally opposed to Park County counting ballots by hand in the next election or any other.
What is the need to “restore our citizens’ faith in elections in Park County”? We’ve never had any problem with election integrity here in my 90-year lifetime. The Sons of Freedom demanding this foolishness — who are they? What are their names? What do they stand for? They may be a cult within a cult! It seems to me that anyone demanding officials declare a for-or-against stance is not “pure and unbiased.”
To say that this is a “bipartisan effort” is absurd. There are 29,000 human beings in Park County, yet, apparently only 50 showed up at the last Park County Commissioners meeting to address the issue — one of them a Democrat.
The first batch of “volunteers,” after seeing the inane nature of the hand counting process, will never volunteer again! And who is training the groups?
The state of Wyoming will be waiting for hours or days for Park County to total up its votes.
The Park County Republicans have their share of notoriety for communications to legislators and obsession with censuring anyone who dares disagree with them. Where do they get the gall to impugn the integrity and honesty of our county officers and commissioners — all of whom are Republicans?! Who do they trust? Apparently no one. Neither their government, nor elected officials (except their chosen ones!) nor their fellow citizens.
They don’t even trust their fellow men and women in the Park County Republican Central Committee. Watch how they treat folks who get up on their hind legs and challenge the Oath Keeper state chairman, the executive committees and the various county organizations that swallow state-party dicta, then request nondisclosure agreements from everyone present.
Who is going to protect the security and validity of the person’s ballot for the time it takes hand counters determine if it “is accurate to the intention of the voter”?
The missive from the party also says “a hand count should verify the machine count.” I’ll tell you who the people who are legally and professionally qualified to run and evaluate fair elections will be looking for if it doesn’t — the meddling middlemen volunteers and election judges who handled our secret ballots, not the voters or the county clerk. That will be a real scrap!
These self-appointed party-purity enforcers say they are hunting RINOs — Republicans in Name Only. I call those doing the hunting “Republicans Ignorantly Needling Others.”
If anybody can tell me about anything that ever happened in Park County that had to do with election fraud or deception, please weigh in on it. I’ve been around a long time. I do recall one election where “they” didn’t like the winner. The challenger who lost by over 400 votes was pressed to ask for a recount. The recount changed about seven votes and cost taxpayers about $5,000.
What is happening with our Republicans nationwide? Why don’t the members of my party trust anybody anymore?
There are 61 state, county and national lawsuits regarding the presidential election that Donald J. Trump lost by 8 million votes. Yet, he’s still on his soapbox, red-faced and ranting. With that zany unhinging, we’ll be waiting for Sens. Ted Cruz or Josh Hawley or Gov. Rick DeSantis to take him out in the next Republican presidential election convention.
And so it goes in America today! It’s your right to be guarded, suspicious, fearful, rigid and afraid. Go for it. But, please leave the rest of us alone who believe in truth and integrity, and don’t try to shove down our throats every cockamamie conspiracy that ever came down the pike.
Sincerely,
Alan K. Simpson
Precinct Committeeman, District 25-1
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https://www.wyomingnews.com/opinion/guest_column/simpson-absurd-inane-galling-an-open-letter-on-election-integrity/article_6e2067fa-9c02-5b25-8a8b-813682551e11.html
| 2022-04-21T11:34:02Z
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Yes, Roberta Bergin, as you said on April 17, the “Democratic Party has surpassed all possible expectations for America.” Wages have gone up 5.6%; GDP is up 5.7%, which is double the average since 1976; 7.9 million jobs have been added; and unemployment is down to 3.6%.
Trump originally closed the southern border to prevent asylum seekers from spreading COVID. Now that the virus is actually waning and mask mandates have not been allowed in many situations, Biden saw fit to lift Trump’s mandate closing the southern border. This will likely not increase drug trafficking, since “an analysis of data from the southern border indicates that the vast majority of narcotics enters through U.S. ports of entry.”
In fact, when El Chapo was on trial for drug smuggling, “several of his cartel members have testified that they mostly pushed drugs through U.S. ports of entry … [N]one of El Chapo's associates has testified that they moved drugs through the open border regions in between those ports.” (USAToday.com) Even more salient is the fact that, “80% of drug smugglers are American citizens, not illegal immigrants.” (mic.com)
Ms. Bergin, please provide proof for your accusations that kindergarten children are being taught about sex and that Democrats are responsible for the war in Ukraine.
I would also like to point out that we should not be blaming Democrats for inflation. FOX, ONA and Newsmax would like to have us believe so, but due to the pandemic’s cause of supply chain problems, inflation is worldwide. Also, “[s]ome of the nation's largest retailers have been using soaring inflation rates as an excuse to raise prices and rake in billions of dollars in additional profit.” (cbsnews.com)
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https://www.wyomingnews.com/opinion/letters_to_editor/democrats-have-done-more-good-for-u-s-than-letter-writer-thinks/article_a4faf322-85bb-5deb-aa97-eda3e4ac9c29.html
| 2022-04-21T11:34:08Z
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BLM issues notice for oil and gas lease saleFollowing an injunction from the Western District of Louisiana, the Bureau of Land Management Wyoming State Office on Monday issued a final environmental assessment and sale notice for a June 21-22 lease sale.
Monday’s notice incorporates recommendations from the Department of the Interior’s Report on the Federal Oil and Gas Leasing Program, as well as other reports issued by the Governmental Accountability Office and Congressional Budget Office, according to a news release.
The BLM is applying a first-ever increased royalty rate of 18.75% for the leases sold in the current competitive lease sales, in keeping with rates charged by states and private landowners.
The BLM Wyoming State Office will move forward with its modified proposed action, Alternative 3, as analyzed in DOI-BLM-WY-0000-2021-0003-EA, by offering 129 parcels containing about 131,771 acres of public minerals. The parcels will be offered at the online oil and gas lease sale, which can be accessed at www.energynet.com.
Additionally, Monday’s posting of the sale notice initiates a 30-day public protest period that ends on May 18. You can submit protests on the offered parcels through the link on the sale’s ePlanning site, https://eplanning.blm.gov/eplanning-ui/project/2015621/570; via email to blm_wy_lease_sales@blm.gov; or by mail to Bureau of Land Management Wyoming, Fluid Minerals, 5353 Yellowstone Road, Cheyenne, WY 82009. All protests must be submitted by 4:30 p.m. on May 18.
Unemployment falls across the state in MarchCHEYENNE (WNE) — As measured by one economic statistic, the unemployment rate fell in every county in Wyoming last month compared to March 2021. And statewide, this seasonally adjusted jobless statistic fell by 2/10 of a percentage point to 3.4%, according to the Wyoming Department of Workforce Services’ Research & Planning section.
The state unemployment percentage is also “slightly lower than the current U.S. rate of 3.6% and much lower than its March 2021 level of 5.0%,” the Research & Planning section said Monday. In just the approximately month-long period from this February to March 2022, seasonally adjusted employment of Wyoming residents increased by 796 workers, or a gain of 0.3%, “as people returned to work.”
In Laramie County, a jobless rate that is not seasonally adjusted fell to 3.3% last month from 4.8% a year earlier, according to a table of the civilian labor force by place of residence.
Across the state as a whole, this figure fell to 3.1% from 3.9%. The most recent figures both locally and in Wyoming are preliminary.
“Unemployment rates were unusually high during much of 2021 because of the pandemic,” the government agency noted. “Total non-farm employment in Wyoming (not seasonally adjusted and measured by place of work) rose from 270,300 in March 2021 to 278,500 in March 2022, an increase of 8,200 jobs (3.0%).”
Governor orders Wyoming to half staff Thursday
Gov. Mark Gordon has ordered the Wyoming state flag be flown at half-staff at the Capitol in Cheyenne and in Laramie County from sunrise to sunset Thursday in honor and memory of Bill Nation.
Nation represented Laramie County in the Wyoming House of Representatives in 1965 and served three terms as mayor of Cheyenne. He died April 13.
This notice is only for the Wyoming state flag and only at two locations in the state — at the Capitol and in Laramie County. Other flags should remain at full-staff.
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https://www.wyomingnews.com/townnews/economics/worth-noting/article_9faae6ed-d433-570b-adfa-ba07f5a11a19.html
| 2022-04-21T11:34:15Z
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When the planned track and field meet in Burns was canceled last week because of inclement weather the Laramie High teams, along with Cheyenne Central, quickly turned its attention toward the south for a competition.
The Wyoming schools then competed last Saturday at the large Mountain Range Mustang Track & Field Invitational at North Stadium in Westminster, Colorado. The meet featured a large field of teams along the Front Range.
LHS junior John Rose proved he is one of the best long jumpers in the region when he won the event in a field of 48 athletes with a leap of 19 feet, 11 inches — half an inch better than runner-up Kyle Krebs of Mullen High. He was also seventh out of 29 in the high jump at 5-9.
The Plainsmen and Lady Plainsmen finished seventh in the team standings with 21 boys teams and 20 girls teams competing.
Other top-10 finishes by the LHS boys included: junior Meyer Smith in the 800-meter run (fifth, 2 minutes, .30 of a second); junior Cooper Kaligis in the 3,200 (eighth, 10:34.41); junior Christopher Gonzalez in the shot put (40-9½); the 800 medley relay (third, 1:50.58); and 4x400 relay (third, 3:38.21). Members of relay teams were not available.
The Lady Plainsmen had multiple events with athletes finishing in the top-10, led by a couple of third-place finishes in field events — junior Emily Gardner in the long jump (16-0) and senior Ashlyn Bingham in the triple jump (34-1). Gardner was also ninth in the 100 hurdles (18.31). The Lady Plainsmen were also runner-up in the 4x200 relay (1:51.20) and fifth in the 4x100 relay (52.52).
LHS junior Alex Lewis was consistent in the throws when she placed fifth in the discus (92-8) and shot put (32-5½).
Other top-10 finishes for the LHS girls were: sophomore Andee Dory in the 100 (fifth, 13.17); senior Carey Berendsen in the 800 (seventh, 2:33.53) and was also just outside the top-10 in the 400 (11th, 1:04.94); senior Ilysa Soule in the 3,200 (13:01.37); and freshman Kamrie Bingham in the triple jump (10th, 30-6).
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https://www.wyomingnews.com/wyosports/high_school/laramie_high/lhs-rose-wins-long-jump-at-large-colorado-meet/article_26e4f3c8-ee76-5c4a-9818-fb8af0442fc2.html
| 2022-04-21T11:34:21Z
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UPDATES are Spikeball and South volleyball clinic. Also updated some days for timeliness. – JAJ
Baseball
CJL seeks umpires: Cheyenne Junior League baseball is looking for umpires for the upcoming season.
Applications can be completed during training. All applicants must be at least 15 years old.
Training will be held 6-8 p.m. April 26, May 3, May 5, May 9 and May 11 at the Springhill Suites, 429 W. Fox Farm Road. Prospective umpires need to attend all scheduled trainings and one field clinic.
Training will cover USSSA youth baseball rules, CJL bylaws, mechanics, positioning and overall umpire responsibilities.
Umpires are paid $25-45 per game, based on experience.
For more information, contact Keil Lindsay at 307-256-4713 or cjlpresident@gmail.com.
Cheerleading
East camp: The Cheyenne East spirit program will hold a youth cheerleading camp June 2-4.
The cost is $60 for athletes registered by May 27. The registration cost for each additional child from the same household is $45.
Participants will get a T-shirt and bow.
The camp runs 5:15-7:45 p.m. June 2, and 8:15-10:45 a.m. June 3 and 4. Campers will perform at 10 a.m. June 4 during halftime of the East football camp’s championship games.
The registration form can be found at https://bit.ly/EastCheerCamp. For more information, contact Emili Brooksmith at cheyenneehscheer@hotmail.com or 307-421-2385.
Football
Adult flag league: Registration for the city of Cheyenne’s 7-on-7 adult flag football league has started. It ends July 2. The league is for athletes 16 and older.
Games will be played Tuesdays and Thursdays. Each team is guaranteed six games. The cost is $200 per team, and the season runs July 12 through Aug. 18.
For more information, contact David Contreras at 307-637-6425 or dcontreras@cheyennecity.org.
Youth tackle league: Registration for the city of Cheyenne’s youth tackle football league starts May 2.
The cost is $140 per player, with an equipment deposit of $150. Registration includes use of a helmet, shoulder pads, practice pants and jersey, team photos and a participation award.
Teams are based on school triads. Practices start Aug. 1, and games start Aug. 20.
For more information, contact David Contreras at 307-637-6425 or dcontreras@cheyennecity.org.
Youth tackle officials training: Anyone who wants to officiate the city of Cheyenne’s youth tackle football league this fall can register for training starting May 23.
The training covers proper mechanics, positioning and how to approach the game. It runs 6-8 p.m. Aug. 3.
For more information, contact David Contreras at 307-637-6425 or dcontreras@cheyennecity.org.
Golf
Cegelski McLeod tourney: The annual Val Cegelski McLeod Memorial Scholarship golf tournament will be held June 5 at Airport Golf Course in Cheyenne.
The 18-hole scramble for four-person teams will feature a shotgun start around 12:30 p.m.
The cost is $320 per team, which covers greens fees and cart. The deadline is June 1.
For more information, contact Geoff Reed at geoffrey.reed@laramie1.org.
South camp: The Cheyenne South golf program will hold two golf camps this summer.
The cost is $20 per camper for each camp. The camp is limited to children who will be in third through ninth grades this fall.
The first camp runs 1-3 p.m. June 7-10 at Little America Golf Course, 2800 W. Lincolnway. The second camp runs 1-3 p.m. June 13-17 at Little America.
Each camp is limited to 20 students.
The registration form can be found at https://bit.ly/SouthGolfCamp.
For more information, email South golf coach Michael Loveland at michael.loveland@laramie1.org.
Kickball
Adult co-rec league: Registration for the city of Cheyenne’s adult co-recreational kickball league starts Monday, April 25.
The cost is $150 per team. Each team is allowed up to 20 players on its roster. Players must be at least 16 years old on July 5.
The league runs July 5-Sept. 2. Teams are guaranteed six games, plus a single-elimination postseason tournament. Games will be played at David Romero Park, 1317 Parsley Blvd.
For more information, contact David Mullen at 307-773-1039 or dmullen@cheyennecity.org.
Lacrosse
Youth fundamentals clinic: The city of Cheyenne and Cheyenne Lacrosse Club will partner for a co-rec youth lacrosse fundamentals camp for girls and boys in second through sixth grades.
Registration ends today, April 21. Late registration is available through May 5.
The cost is $30 per player. The 12-lesson camp will be 6-7:30 p.m. Tuesdays and Thursdays starting May 10 in Sun Valley Park.
For more information, contact David Mullen at 307-773-1039 or dmullen@cheyennecity.org.
Pickleball
Summer 101 course: Registration for the city of Cheyenne’s adult summer Pickleball 101 course ends April 28.
The cost is $50 per player. The session runs 9-11 a.m. Tuesdays and Thursdays from June 7-July 7 at the Martin Luther King Junior Park courts off Missile Drive.
For more information, contact David Contreras at 307-637-6425 or dcontreras@cheyennecity.org.
Spikeball
LCCC tournament: The Laramie County Community College Rotaract Club will hold a Spikeball tournament from 4-9 p.m. April 28 at the school’s Recreation and Athletics Center.
Check-in starts at 3:30 p.m.
The cost is $20 per team and includes a T-shirt for each player. Free food also will be available.
Registration and additional information can be found at https://bit.ly/LCCCspikeball.
Softball
Adult early bird tournament: Registration for the city of Cheyenne’s early bird slow-pitch softball tournament ends April 28.
The cost is $250 for each USSSA-sanctioned team and $300 for non-sanctioned teams. The tournament will be held May 7 at the Brimmer and Converse softball complexes.
For more information, contact David Contreras at 307-637-6425 or dcontreras@cheyennecity.org.
Girls rec umpire training: The city of Cheyenne will hold a training for anyone who wants to umpire youth fast-pitch softball April 30.
Registration for the free training is ongoing.
For more information, contact David Mullen at 307-773-1039 or dmullen@cheyennecity.org.
Soveroski Memorial tournament: Registration for the annual Lenny Soveroski Memorial slow-pitch softball tournament starts May 16.
The cost is $250 for USSSA-sanctioned teams and $300 for non-sanctioned teams. Proceeds benefit youth sports financial assistance programs.
The date for the tournament has not been determined.
For more information, contact David Contreras at 307-637-6425 or dcontreras@cheyennecity.org.
Tee ball
Cheyenne rec league: Registration for the city of Cheyenne’s tee ball league ends today, April 21.
The league is for children 3 to 6 years old. The cost is $55 per player. Each player will get a T-shirt, hat, team picture and participation medal.
Practices start May 30, and the season runs June 13 through July 14.
For more information, contact David Contreras at 307-637-6425 or dcontreras@cheyennecity.org.
Volleyball
South clinic: The Cheyenne South volleyball program will host a youth skills clinic from 6-8 p.m. Thursday, May 26.
The clinic is for 5- to 12-year-olds. The cost is $50 and includes a T-shirt, Gatorade and snack.
Payment can be made the day of the clinic with cash or check. Venmo also is an option.
If you opt to play the day of, email Cherisa Applehunt at coachapplehunt@gmail.com with participant name and T-shirt size.
Yoga
Chair classes: The city of Cheyenne is offering chair yoga classes at 9 a.m. Mondays and Wednesdays at the Youth Activity and Community Center at Romero Park, 1317 Parsley Blvd.
The classes last 40 minutes, and punch cards – which are required to participate – can be bought at the Kiwanis Community House, 4603 Lions Park Drive. The class is free to those who qualify for Silver Sneakers.
For more information, contact Lori DeVilbiss at 307-773-1044 or ldevilbiss@cheyennecity.org.
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https://www.wyomingnews.com/wyosports/other_sports/community/community-sports-bulletin-board-for-april-21-2022/article_25018e4c-ff82-570e-82f5-4c7404a8acc9.html
| 2022-04-21T11:34:27Z
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LARAMIE – Over the past few seasons, the University of Wyoming has built a reputation for generating elite production at the middle linebacker spot.
Easton Gibbs is excited for the chance to continue this tradition.
Gibbs moved over from weakside linebacker this off-season, assuming a role that has recently been filled by a pair of All-American Butkus Award finalists. One, Logan Wilson, started for the Cincinnati Bengals in the Super Bowl earlier this year. The other, Chad Muma, is one of the top linebacker prospects for next week’s NFL draft.
Given the players that have come before him, Gibbs knows the expectations that come along with starting at “Mike” linebacker for the Cowboys – and he’s embraced them.
“I’d definitely say it’s more excitement than pressure,” Gibbs said. “There’s obviously that lurking thing behind it with this spot that those two guys have played in, because they were amazing players. But I’m just excited to get out there and prove I belong out there, as well.
“I’ve been talking to both of them, and they’re always so helpful. They’re just telling me to stay locked in, stay the course and use the tools I’ve had. I’ve watched them and took tools out of their bag, and learned from them as much as I can. I couldn’t have been behind two better guys.”
While it wasn’t revealed that Gibbs would be the Pokes’ next Mike linebacker until last month, UW linebackers coach Aaron Bohl says the sophomore started preparing to take on a larger role back in September.
In addition to putting together a productive campaign during his first year as a full-time starter, compiling 89 total tackles, 49 solo stops, two sacks and four pass deflections, Gibbs also took in as much as he could during what became apparent would be Muma’s last season in Laramie. He’s continued to stay in touch with both Muma and Wilson, as he prepares to take on a more significant role in the defense.
“Both Chad and Logan are extremely giving people,” Bohl said. “I know Easton has been connecting with them over the last month, about what they did and what helped them. Outside of just football, just the leadership when you’re in that role in the defense. It’s a huge part. Chad did it at an extremely high level, and we’re excited to see that (from Easton).
“Easton came up after the first game and said, ‘Chad’s not going to be here next year I bet.’ But he said he was going to start learning from him, because he knew he wanted to soak in every minute he could from him.”
Gibbs has placed an emphasis on building and maintaining muscle mass this off-season. Entering the spring listed at 6-foot-2, 230 pounds, Bohl says he’s even more explosive than last season.
The biggest change for Gibbs, though, has been becoming a more vocal leader.
“I’m generally more of a quiet guy, so stepping into that role I knew I had to be more vocal,” Gibbs said. “Sometimes people need a vocal leader, and I’ve decided to step into that role and do it to the best of my abilities. It’s kind of out of my comfort zone, but I knew I had to do that to be a good leader for our team.”
Muma had a similar path to Gibbs at UW, starting his career at the weakside spot, before taking over for a prestigious predecessor. His greatest advice boils down to embracing the leadership responsibilities that come with the role.
“It’s just him stepping up in that bigger role and being confident in himself that he’s the quarterback of the defense,” Muma said. “He has to make those calls and make those checks to the entire defense. I went out to practice the other day and was able to see some of those things from Easton, being a leader out on the field.
“That’s the biggest jump. When you’re at that Mike position, unlike the Will, you have to really be that leader on the field. That’s one huge aspect that Easton has been able to take over well.”
In addition to his own personal development, Gibbs has also played a key part in the growth of a young linebacker room. Shae Suiaunoa, one of the top candidates to fill the vacant weakside linebacker spot, has experienced this impact firsthand.
“He’s stepped up,” Suiaunoa said. “He already knew the playbook, but he’s even more locked in. He’s being a true leader, and he’s being the quarterback of the defense.”
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https://www.wyomingnews.com/wyosports/university_of_wyoming/football/wyoming-lb-gibbs-excited-to-fill-big-shoes/article_3c6c0162-f12e-53e6-913b-681fcc571a66.html
| 2022-04-21T11:34:33Z
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The University of Wyoming women’s golf team wrapped up its season Wednesday with the final round of the Mountain West Championships.
UW placed ninth out of nine teams in the event at Mission Hills Golf Club in Rancho Mirage, California, with three Cowgirls making their MW championships debut.
“Not the finish we were hoping for, but a lot of positive things to take away from this event,” UW coach Josey Stender said. “Our ball striking and preparation is absolutely where we need to be to be consistently competitive. To be led by two freshmen all season and this experienced lineup returning, next year is really something to be excited for.”
Meghan Vogt turned in her best round of the tournament on Wednesday, shooting a 74 (+2) to finish tied for 35th with a total score of 232 (+16). Vogt completes her freshman season with a stroke average of 76.2, which ranks ninth all-time in program history. Fellow Freshman Kyla Wilde also finished tied for 35th.
Morgan Ryan closed out the tournament with a third-round score of 77 (+5), bringing her total to 233 (+17) to finish tied for 38th. Samantha Hui and Jessica Zapf rounded out the lineup, finishing tied for 40th and 45th, respectively.
In the team standings, the Cowgirls finished ninth with a total score of 932 (+68). Colorado State was eighth at 909 (+45), while No. 5-ranked San Jose State shot an 860 (-4) to run away with the team title. New Mexico finished second with a score of 890 (+26).
UW, Clower agree to contract extensionUW athletics announced Wednesday a multi-year contract extension with women’s tennis head coach Dean Clower to run through May of 2027.
“I can’t thank the administration, the student-athletes and most importantly, the fans, for making Laramie such a great place to live and work,” Clower said in a news release.
“I truly feel Laramie and the University of Wyoming is a special place for both me and my family. I am beyond blessed. Tom (Burman) and the administration at UW is second-to-none, which is a major factor in the success of our program and is a game-changer for me as a head coach. Now, it’s time to bring some championships back to Laramie. Go Pokes!”
Clower, who is the all-time winningest coach in program history, has led the Cowgirls to 136 wins in his 11 seasons and has compiled a record of 43-19 (.694) in Mountain West play. Under Clower’s tutelage, UW has had 10 All-Mountain West doubles teams and 17 All-Mountain West singles team honorees. In each of his previous 10 seasons, Clower had both a doubles team and a singles team member receive all-conference honors.
The Cowgirls also have great academic success under Clower, as well. Thirty-three Cowgirls were named ITA scholar athletes, while nine of his squads have been named an ITA All-Academic team. UW also has had numerous Mountain West scholar-athletes and All-Mountain West academic team members in the last 11 seasons.
Wyoming finishes this regular season at 1 p.m. today at Colorado State and a 1 p.m. Friday match against Nevada in Fort Collins, Colorado.
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https://www.wyomingnews.com/wyosports/university_of_wyoming/other_sports/cowgirls-complete-play-at-mw-championships/article_5e3b3b79-06cf-54eb-9493-89ec489aca90.html
| 2022-04-21T11:34:39Z
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