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NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Co-Diagnostics, Inc. (NASDAQ: CODX) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of a class of all persons and entities who purchased the publicly traded securities of Co-Dx during the period of May 12, 2022 through the close of the market on August 11, 2022 (4:00 p.m. ET).
Lead Plaintiff Deadline: October 17, 2022
No obligation or cost to you.
Learn more about your recoverable losses in CODX:
https://www.kleinstocklaw.com/pslra-1/co-dx-class-action-loss-submission-form?id=31232&from=4
CLASS ACTION CASE DETAILS: The filed complaint alleges that Co-Diagnostics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) demand for the Company's Logix Smart™ COVID-19 test had plummeted throughout the quarter ended June 30, 2022, and (ii) as a result, defendants' positive statements about the demand for its Logix Smart™ COVID-19 test lacked a reasonable basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Co-Dx you have until October 17, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Co-Dx securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the CODX lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/co-dx-class-action-loss-submission-form?id=31232&from=.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/codx-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-17-2022-class-action-filed-behalf-co-diagnostics-inc-shareholders/ | 2022-08-30T10:43:59Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Carvana Co. (NYSE: CVNA) alleging that the Company violated federal securities laws.
Class Period: May 6, 2020 to June 24, 2022
Lead Plaintiff Deadline: October 3, 2022
No obligation or cost to you.
Learn more about your recoverable losses in CVNA:
https://www.kleinstocklaw.com/pslra-1/carvana-lawsuit-loss-submission-form?id=31228&from=4
Carvana Co. NEWS - CVNA NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Carvana Co. made materially false and/or misleading statements and/or failed to disclose that: (1) Carvana faced serious, ongoing issues with documentation, registration, and title with many of its vehicles; (2) as a result, Carvana was issuing unusually frequent temporary plates; (3) as a result of the foregoing, Carvana was violating laws and regulations in many existing markets; (4) as a result of the foregoing, Carvana risked its ability to continue business and/or expand its business in existing markets; (5) as a result of the foregoing, Carvana was at an increased risk of governmental investigation and action; (6) Carvana was in discussion with state and local authorities regarding the above-stated business tactics and issues; (7) Carvana was facing imminent and ongoing regulatory actions including license suspensions, business cessation, and probation in several states and counties including in Arizona, Illinois, Pennsylvania, Michigan, and North Carolina; and (8) as a result, Defendants' statements about Carvana's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Carvana you have until October 3, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Carvana securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the CVNA lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/carvana-lawsuit-loss-submission-form?id=31228&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/cvna-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-3-2022-class-action-filed-behalf-carvana-co-shareholders/ | 2022-08-30T10:44:06Z |
Through the national leader in preventive care, Danone North America employees will have access to key health services through EHE Health's suite of Pulse offerings
NEW YORK and BROOMFIELD, Colo., Aug. 30, 2022 /PRNewswire/ -- Today, EHE Health, a national healthcare provider, and Danone North America, the purpose-driven food and beverage leader with a diverse portfolio of dairy and plant-based brands, announced a new three-year relationship to facilitate prevention at scale and drive better health outcomes for Danone's U.S.-based workforce. As one of the world's largest Certified B Corporations®, Danone is guided by its responsibility to use its business as a force for good, which includes its efforts to prioritize employee wellbeing.
"We're proud to make this investment in one of Danone's most important resources, our people," said Silvio Amorosino, Chief Human Resources Officer at Danone North America. "Partnering with EHE Health will help increase engagement of these critical health services, especially amid the ongoing pandemic. We are committed to taking care of our employees and their families by creating pathways toward good health, and we look forward to rolling out these services this year."
The new offering complements Danone's existing efforts to advance employee wellbeing, which helps contribute to its best-in-class culture and engaged workforce. Through the partnership, Danone North America's more than 6,000 employees and their spouses/domestic partners who have chosen Cigna as their health insurance carrier will have access to EHE's newly announced Pulse by EHE Health mobile application. This holistic preventive suite of Pulse products includes Pulse Physical™, Pulse Virtual™ and Pulse Digital™. Offerings include comprehensive and personalized in-person exams through Pulse Physical, on-the-go customizable health resources through Pulse Digital and remote experiences through Pulse Virtual. Members will also have access to resources such as one-on-one health mentorship with prevention health experts.
With EHE Health's evidence-based platform solution, Pulse Digital™, employees will be able to integrate multiple dimensions of health, including medications, labs, diet, activity, symptoms and psychosocial factors, with the insights and data visualizations necessary to empower individuals and strengthen care team connections. Powered by advanced AI, the platform seamlessly integrates with popular wellness trackers and provides real-time coaching.
"We're excited to partner with Danone to provide our premium preventive health services," said Dr. David Levy, MD and Chief Executive Officer of EHE Health. "Danone and EHE have a shared philosophy centered around health, transparency and accountability, which aligns with our mission to keep employees happy and healthy. We look forward to working together to help improve overall engagement and utilization to drive better health outcomes among their people."
"Empowering people to take charge of their health with a consistent focus on prevention is core to what we do every day at EHE Health," said Joy Altimare, Chief Revenue Officer. "We're proud to begin this new journey with Danone to help their employees and business continue to thrive."
For more information, visit www.ehe.health or www.danonenorthamerica.com.
EHE Health is a national healthcare provider network and center of excellence in preventive health and primary care, that partners with mid- and large-sized employers to give their employees and beneficiaries an entry point to organized healthcare, beginning with prevention. Named by Fortune Magazine and Great Place to Work® as one of the Best Workplaces in 2021, EHE Health is headquartered in New York City and operates and/or contracts with 200 health clinics across the U.S., staffed by a network of curated primary care physicians and clinicians. For 109 years, EHE Health has been an innovator and leader in helping people live longer, healthier lives with personalized preventive care. For more information, visit us at www.ehe.health.
Danone North America is a purpose-driven company and an industry leader in the food and beverage category. As a Certified B Corporation®, Danone North America is committed to the creation of both economic and social value, while nurturing natural ecosystems through sustainable agriculture. Our portfolio of brands includes: Activia®, DanActive®, Danimals®, Dannon®, evian®, Happy Family® Organics, Honest to Goodness®, Horizon® Organic, International Delight®, Light + Fit®, Oikos®, Silk®, So Delicious® Dairy Free, STōK™, Two Good®, Wallaby® Organic and YoCrunch®. With more than 6,000 employees and 16 production locations across the U.S. and Canada, Danone North America's mission is to bring health through food to as many people as possible. For more information, visit www.danonenorthamerica.com/. For more information on Danone North America's B Corp™ status, visit: https://bcorporation.net/directory/danone-north-america.
Media Contact: Erin Pallotta, Current Global | epallotta@currentglobal.com | 608-279-2947
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SOURCE EHE Health | https://www.whsv.com/prnewswire/2022/08/30/ehe-health-partners-with-danone-north-america-underscoring-danones-ongoing-commitment-employee-health-wellbeing/ | 2022-08-30T10:44:12Z |
BERLIN, Aug. 30, 2022 /PRNewswire/ -- Global appliance company Electrolux - under its premium brand AEG - reveals a new range of washing machines and tumble dryers that automatically adjust time, water, and energy usage. A new add-on filter catches up to 90% of microplastic fibers released by synthetic clothing. The world premiere takes place at global tech event IFA in Berlin on September 2-6, 2022. At IFA, AEG will also showcase its new range of food waste-saving fridges and freezers with unique models made with up to 70% recycled plastic in the inner liner walls.
"We innovate to make life easier and more enjoyable while enabling people to make more sustainable choices. By working with recycled materials, energy efficient solutions and applying sustainable practices we show that it is possible for consumers to make great tasting, healthy food and keep clothes looking like new for longer whilst taking care of the environment at the same time," says Chris Braam, CEO of Electrolux Europe.
"IFA plays an important role in putting a spotlight on innovation and it's great to be back here. When Covid put the physical event on hold, our strive to innovate has not taken a break. We are looking forward to showcasing our latest sustainable innovations and meet with our trade partners and consumers in person in Berlin," adds Braam.
Spotlight on new laundry range
AEG highlights at IFA include the new laundry range with award-winning appliances. The unique range of washing machines offers new features such as SoftWater, a ground-breaking technology to filter and purify the water it utilizes, and a PowerClean program that cleans your clothes efficiently and removes stains at only 30°C. Washing clothes too often and at hot temperatures can ruin the color and fabric. Instead of washing, users can opt for a steaming function that gets rid of odors in 25 minutes using 96% less water than a regular washing cycle. In addition, an add-on filter for washing machines catches up to 90% of microplastic fibers released by synthetic clothing.
The new range of tumble dryers has been developed to minimize energy use and use 3D Scan Technology to identify humidity levels inside the items ensuring that even layered garments are evenly dried.
New kitchen innovations
Within kitchen appliances, AEG will be showing its new range of food waste-saving fridges and freezers, among them the 7000 GreenZone/GreenZone+ – a unique fridge with up to 70% recycled plastic in its inner liner walls. Cooling 360° technology in the new 8000 series helps reduce waste by keeping food fresh longer providing an important contribution to preventing food waste as current research shows that up to 60% of people throw away food at least once a week. The main reason is food passing the before due date, but food waste also occurs due to fresh food going off too quickly.
At IFA, AEG will also display two new extractor hobs: the 6000 Bridge with eXTractor and the 8000 Bridge/FlexiBridge with eXTractor, designed to bring freedom to kitchen planning, as people upgrade and make the cooking space more sociable. Located in the middle of the hob, the extractor fan is activated once a cooking zone is used, powerfully removing vapor quietly and quickly at the source. It filters and recycles the air back into the room and the breeze function ensures a fume-free kitchen after the cooking has been completed, by continuing to refresh the air.
Join the media event
Electrolux will hold a media conference at IFA in Berlin to present its newest innovations including the new AEG laundry range. The event takes place on September 1, 2022, at 13.00 CET, at the AEG booth in hall 4.1, booth 101.
Journalists interested in attending the media conference can register here.
The media conference will also be streamed live between 13.00-14.00 CET via this link.
About IFA Berlin
IFA, the world's most significant trade show for consumer and home electronics is the main marketplace for key retailers, buyers, and experts from the industry and the media. IFA 2022 takes place at Messe Berlin from September 2-6.
For further information, please contact Electrolux Press Hotline, +46 8 657 65 07.
This information was brought to you by Cision http://news.cision.com
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SOURCE Electrolux | https://www.whsv.com/prnewswire/2022/08/30/electrolux-reveals-cutting-edge-water-energy-saving-laundry-range-ifa-2022/ | 2022-08-30T10:44:18Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Enochian BioSciences, Inc. (NASDAQ: ENOB) alleging that the Company violated federal securities laws.
Class Period: January 17, 2018 to June 27, 2022
Lead Plaintiff Deadline: September 26, 2022
No obligation or cost to you.
Learn more about your recoverable losses in ENOB:
https://www.kleinstocklaw.com/pslra-1/enochian-biosciences-inc-loss-submission-form?id=31226&from=4
CLASS ACTION CASE DETAILS: The filed complaint alleges that Enochian BioSciences, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's co-founder and inventor Serhat Gumrukcu was engaged in a variety of frauds; (2) Gumrukcu was not a licensed doctor anywhere in the world; (4) as a result of the foregoing, Gumrukcu's purported contributions to the Company lacked a reasonable basis; (5) as a result of the foregoing, the Company had overstated its commercial prospects; (6) Gumrukcu had improperly diverted approximately $20 million from Enochian to entities he owned; 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 THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Enochian you have until September 26, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Enochian securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the ENOB lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/enochian-biosciences-inc-loss-submission-form?id=31226&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/enob-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-26-2022-class-action-filed-behalf-enochian-biosciences-inc-shareholders/ | 2022-08-30T10:44:25Z |
HO CHI MINH CITY, Vietnam, Aug. 29, 2022 /PRNewswire/ -- Recently, signs of inflation have become so evident that it imposes greater impact on the entire global economies, dragging the international stock markets toward unexpected and unpredictable turning points. Despite such bearish markets, First Option FX proves itself to be among the top-tier trading platforms with features and qualities offering the best experience to users.
How do investments take hit from market volatility?
Post World War II, there were roughly 29 times in which the international relations had exposed to multiple turbulence and crises, especially the recent events related to geopolitics, international conflicts and social uncertainties with on-going downbeat backdrop.
Alongside significant risk events, there were certain seesaw movements of multiple economic values as a result, pushing up all-time high inflation in decades. A hit coming from these dismal trends seems to be the biggest catalyst that drives inflation, which is considered as the most concerning matter for the global stock markets in general and the average investors in particular.
What may occur consequently is that one could end up finding themselves overwhelmed with tons of financial mess amid such turmoil. Let it be the case, the investors have to be well-aware and cautious by every single decision.
First Option: the most trusted broker to weather the storm
Ranked among the most trusted brokers in the region, First Option has effectively highlighted its own unique strengths in the financial market. Meanwhile, the platform also continues to provide updated stock market news, informative commentaries with fact-based assessments, offering countless opportunities for its clients to gain from the everchanging market.
Instruments
There are 6 common types of trading instruments being offered at First Option, including: forex, indices, stocks, metals, cryptocurrencies and energies.
- Forex: the broker provides more than 40 major, minor and exotic pairs.
- Indices: international stock investors and traders would be able to make trades on 15 most popular indices via CFDs.
- Stocks: only secure and highest valuation assets are offered.
- Metals: only precious metals i.e. gold and silver are available.
- Cryptocurrencies: several cryptocurrencies are ready for trades such as Bitcoin, Ethereum, Ripple and some others.
- Energy: includes Brent crude oil, WTI crude oil, natural gas and coal.
Account types
First Option FX offers three main types of trading accounts:
- Lite Account
- Minimum deposit of 2,000 USD
- Leverage amount up to 1:100
- Commission-free
- 24/7 Tech support
- Extra Account
- Zero commission
- Minimal spread
- Instant execution
- 24/7 Tech support
- Premium Account (VIP)
- Minimum deposit of 10,000 USD
- Leverage amount up to 1:300.
- Swap free
- 24/7 Tech support
Trading platform
For those who might concern about the trading platform, MetaTrader5 (MT5) is readily available on First Option. This version has received multiple positive reviews by the market participants thanks to its dynamic and ease of use experience on any mobile device.
While enjoying MT5 on First Option, international investors might be able to flip around with 21 different time frames. In addition, multitasking is also possible. Another great thing to like about this platform is that it is well-integrated with a backtest function, which literally saves hours of waiting with six types of pending orders. As a result, pending and execution time would just occur in the blink of an eye.
The brokerage is also featured with other advantages which are highly in-demand and pick up interest from the customers:
- Its software is powered with MQL5 to create custom indicators.
- On-going data updates on the economic calendar.
- Showing in-depth data related to the market.
- Available software version for PC, mobile or even direct access on the website.
Payment methods
Deposit/Withrawal is available for
- Visa/Mastercard.
- Wire Transfer.
- Neteller.
- Skrill.
- Fasapay.
- WebMoney.
- Internet banking.
Newcomers to First Option might enjoy great benefits with surprise promotions for making up their investment decision.
- A reward up to $600 + 60 days of zero commission for stock and forex trading
- Negative balance protection
- Managed and separated exchange traded funds
- Instant deposits and lightning fast withdrawals.
First Option is authorised by the Australian Securities & Investments Commission (ASIC), holding the regulatory license No. 000123/456. The brokerage firm is also a nominal member of the International Financial Commission.
Awards
- Best Mobile Trading App 2019 awarded by the European CEO.
- Best ECN forex broker
- U.K. Forex Awards 2020.
- Best Trading Conditions 2021 awarded by Forex Magazine.
- In addition, First Option Fx is also certified as an excellent trading platform by Verify My Trade.
About First Option
First Option FX is a trading platform founded by Trading Point Holdings Ltd in 2013. After many years of operation, First Option FX has grown and become a strong international investment company, leading the market with 3.5 million clients from 196 countries worldwide, 450 experienced financial professionals, capable of supporting more than 30 languages, offering 16 comprehensive trading platforms and 25 + secure payment method…
For international securities and stock investing activities, transparency and reputation have long been the key advantages of First Option, which offers executable, fast and timely data for its relevant customers and partners.
Success in international stock trading requires insight experience, understandings and certain skills, however making your choice of who to do business with is also a key factor amid the uncertain economic headwinds. First Option, by its real vision and mission, would deliver way beyond any expectation.
First OptionFX contact information
- Entity: First OptionFX
- Website: https://firstoptionfx.com/
- Email: support@firstoptionfx.com
- Phone: 1900272776
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SOURCE First Option FX | https://www.whsv.com/prnewswire/2022/08/30/first-option-fx-overcomes-market-volatility-with-most-powerful-trade-app-2022/ | 2022-08-30T10:44:31Z |
LONDON, Aug. 30, 2022 /PRNewswire/ -- Germany punches above its weight for size and population, enjoying enormous economic strength for decades. German performance in this field clearly has several factors – inventiveness, solidity and economic skill are certainly among them. German brands and products, including cars, sportswear, pharmaceuticals, and software, are in high demand all over the world.
As well as the big brands, Germany boasts many strong companies and real pioneers. With the documentary series "50 German Leaders", the TBD Media Group highlights companies and businesses in the SME sector and beyond, in order to demonstrate the diverse concepts and committed personalities that lie behind the unbroken economic success in the centre of Europe. Ultimately, the entire film series will highlight what makes German manufacturing and the German service business so valuable, with authentic representatives from mechanical engineering, logistics, insurance, education, and the textile industry.
Tasks and Opportunities of the Future
Despite a robust German economy, each company is facing significant challenges due to current global developments on a technological, environmental, political and societal level. Less well publicised are the positive dynamics that are advancing global society as a whole and offer rich opportunities. In response, the TBD Media Group will create a forum for an exchange of ideas with all participants of the "50 German Leaders" series.
On Monday 26 September, a select group of German SMEs will meet at The Ritz-Carlton Hotel on Potsdamer Platz in Berlin to exchange ideas and discuss the future of the country's economy. Among other things, essential topics such as mobility, exports, sustainability, the lack of skilled workers and further ongoing challenges will be discussed. One goal is to jointly explore well-founded approaches to solving these issues.
The keynote speaker Mr. Wolfgang Bosbach, among others, will set political accents.
Information on TBD Media Group
TBD Media Group is a global media group that helps businesses, organisations and governments communicate their brand message in a human and direct way. Learn more at https://www.tbdmediagroup.com/.
Businesses featured in the campaign:
Rud.Otto Meyer Technik GmbH & Co.KG
Contact
Anna Berkman
Chief Marketing Officer
a.berkman@tbdmediagroup.com
Photo - https://mma.prnewswire.com/media/1886089/TBD_Media_Group.jpg
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SOURCE TBD Media Group | https://www.whsv.com/prnewswire/2022/08/30/focusing-germanys-future-summit-conference-leading-business-minds-part-50-german-leaders-series/ | 2022-08-30T10:44:38Z |
- Users Number of Moomoo and Its Sister Brand Futubull Increased 20% YoY to 18.6 Million
PALO ALTO, Calif., Aug. 30, 2022 /PRNewswire/ -- Moomoo's parent company Futu Holdings Limited (Nasdaq: FUTU) (Futu), a leading tech-driven digital brokerage and wealth management platform, reported stable growth for the second quarter ending June 30, 2022, with US$222.6 million (HK$1.75 billion) total revenues, and US$87.7 million (HK$688.5 million) non-GAAP adjusted net income.
Financial and strategic highlights of the second quarter:
- As of quarter end, the total number of users of moomoo and its sister brand Futubull increased 20.0% year-over-year to 18.6 million.
- Total number of registered clients increased 30.5% year-over-year to more than three million.
- Total number of paying clients increased 38.6% year-over-year to 1.4 million.
- The number of newly acquired paying clients in the second quarter was 61,000, with approximately 90% of them from the United States, Hong Kong SAR, Singapore, and Australia markets.
- By the end of the second quarter, the total client assets amounted to US$55.3 billion (HK$433.6 billion), an increase of 12.3% from the previous quarter.
- The quarterly client retention rate hit a historic high of almost 99%.
- Corporate and institutional services continued to thrive with IPO and IR clients totaling 276, an increase of 48.4% YoY. The number of ESOP clients reached 519, representing an increase of 97.3% YoY.
- Total client assets in its wealth management business reached US$2.8 billion (HK$21.9 billion) in the second quarter, representing a 58.8% growth YoY. The company has collaborated with 66 world-renowned global financial institutions in offering diverse fund products to clients, adding two new partners in the second quarter.
- As of the quarter end, Futu has acquired 51 licenses and qualifications from regulators across major financial markets; and its subsidiary Moomoo Financial Singapore Pte. Ltd. officially became the first digital brokerage to receive all five memberships from the SGX Group for both the Securities and Derivatives markets, strengthening its leading position in the industry. Another subsidiary Futu Trustee (Singapore) Pte. Ltd. obtained a trust business license from the Monetary Authority of Singapore (MAS) and became one of the 63 trust business licencees approved by MAS.
"Approximately 90% of our newly acquired paying clients in the second quarter were from the United States, Hong Kong SAR, Singapore, and Australia markets, compared with 80% in the previous quarter. Our international expansion was sustained by catering unmet and diverse needs from global investors." said Mr. Leaf Hua Li, Futu's Founder, Chairman, CEO & Chairman of the Technology Committee.
"Our corporate and institutional services business and wealth management business both posted a strong performance in the second quarter as we commit ourselves to relentless product and service expansion driven by technology and operational excellence, together with a well-established market presence worldwide."
Futu strengthens its dominant market share in Hong Kong market as the leading industry player
As of quarter end, Futu's Hong Kong users accounted for more than 40% of Hong Kong's adult population. Meanwhile, the number of Hong Kong paying clients continued to grow.
During the second quarter, an average Hong Kong user spent approximately half an hour on the Futubull app each trading day, with approximately 355,000 daily active users generating over 80,000 posts per trading day on Futubull's interactive investor community.
Additionally, Futubull has become a popular platform for bond subscription in Hong Kong SAR. In April, more than 88,000 Hong Kong investors subscribed to the Green Bond issued by Hong Kong SAR government via Futubull, accounting for 18% of total valid applications.
In the first half of 2022, Futu provided IPO underwriting for 12 companies in Hong Kong SAR, ranking first among local securities firms. New IPO clients in the second quarter included Tianqi Lithium Corporation, Yunkang Group, Yoho Group, and GOGOX Holdings.
For the wealth management business, Abrdn started to provide model portfolio services on Futu's platform with diversified asset allocation strategies in the second quarter, following BNY Mellon Investment Management, GaoTeng Global Asset Management and E Fund (HK), who launched these services in the previous quarter.
Moreover, Futu held the mid-year investment strategy sessions with more than ten well-known global companies such as BlackRock and Morgan Stanley attending, attracting more than 110,000 participants.
During the quarter, Futu further optimized product features and expanded product offerings in an endeavor to enhance clients' investing experience. In the Hong Kong market, Futu debuted structured note products, enabling clients to invest in mutual funds with stock collateral, and allowing clients to enjoy yields on their private investment funds before capital was called.
Moomoo Singapore becomes the first digital brokerage with all five SGX memberships for both the Securities and Derivatives markets
In June 2022, Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) officially became the first digital brokerage to receive all five memberships from the Singapore Exchange for both the Securities and Derivatives markets, strengthening its leading position in the industry.
As of quarter end, Futu Trustee (Singapore) Pte. Ltd. obtained a trust business license from the Monetary Authority of Singapore (MAS), laying a solid foundation for its trust business development in Hong Kong SAR and Singapore, two of the most prominent financial hubs worldwide. With this license, Futu can provide a comprehensive range of trust services, including ESOP trusts, family trusts and family office services to Asian and global corporate clients or high-net-worth clients.
After 16-month operations in Singapore, moomoo is now highly recognized by local investors. As of June 2022, the number of moomoo's Singapore users accounted for 22.1% of Singapore's population aged between 20 and 70. Singapore clients' AUM continued to increased, up 144.7% YoY.
In Singapore, Moomoo Singapore became the first digital brokerage to lead an IPO project as the main placing agent and underwriter, while providing services for Internet of Things solution provider iWOW. Moomoo attracted the highest number of subscribers, taking up 80% of the total number. Additionally, Moomoo Singapore served as a participating dealer for the listing of Lion-OCBC Securities Singapore Low Carbon ETF, and achieved the highest number of subscribers and subscription amount during the Initial Offer Period.
In the second quarter, AUM of the wealth management business in Singapore surged 377.4% from the previous quarter and the fund holders grew 191.3% sequentially. Besides the launch of liquid funds and fund portfolios, moomoo also now supports investment into regular savings plans directly from bank accounts in Singapore, which is sought after by clients looking for disciplined investment approaches.
Moomoo keeps promoting responsible investing with better trading tools
In the United States, moomoo continued to gain traction among investors who seek better tools to trade with more agility and confidence in the US.
Moomoo offers some of the most innovative features for retail investors, including the cross-exchange comparison of execution prices, Level 2 quotes from market makers and ECNs, and extended trading hours from 4 am to 8 pm EDT. Moomoo endeavors to diminish the information gap between retail investors and institutional investors by providing market data and professional tools that were previously only available to institutional investors.
To better cater to various investing needs, moomoo continued to seek more strategic partnerships to offer a wider spectrum of quotes in the second quarter, adding US futures Level 2 quotes, SGX odd-lot quotes, and CBOE Australia ETFs quotes for users worldwide.
In April, moomoo celebrated National Financial Literacy Month by launching a trading knowledge quiz with prizes, aiming to promote public financial intelligence. Due to overwhelming user participation and enthusiasm for this event, moomoo doubled the size of the prize pool to 1,000 AAPL shares. The event attracted more than 13,600 challengers, and among them, 8,100 investors successfully answered all questions.
In Australia, moomoo expanded its footprint by sharing investing insights and promoting responsible investments. In June, moomoo shared global macroeconomic forecasts, future market trends and investment strategies to more than 300 high-net-worth investors attending the seminars.
Futu promotes a more inclusive and better society with relentless innovation and product excellence
During the second quarter, moomoo and Futubull launched an innovative feature to provide better accessibility to users with red-green color vision deficiency. Understanding that color has power to influence a user's purchase decisions and overall user experience, Futu improved color accessibility by allowing users to tailor color combinations for a better investing experience on its apps.
Leaf said: "As a tech-driven brokerage, Futu always believes in the power of technological advancement and innovation in promoting financial inclusion for all, upholding the corporate mission of making investing easier and not alone. Our dedication and R&D efforts made to optimize products and user experience further enhanced our leadership position in various markets."
To make it possible for everyone to embark on a financial journey, Futu remains committed to intensifying investment to promote financial literacy, investment education and responsible investing for investors of all kinds. As of quarter end, the company rolled out almost 2,500 investing courses online, delivering easy-to-learn content in stories, infographics, gif images, videos, animation clips, live streams, etc., to equip investors with concepts and tactics to navigate diverse challenges and capture opportunities in the volatile market.
About moomoo
Moomoo is a next-generation one-stop digital financial services platform created by Moomoo Technologies Inc., a fintech company based in Palo Alto, California.
Moomoo integrates trading, market data, and social networking with advanced features, such as AI-powered analytics and anomaly detection functions. It supports free online account-opening and provides access to trade stocks and ETFs in multiple global markets such as the United States, Hong Kong SAR, Singapore, and Australia. Moomoo and its brand affiliates also offer rich investor education content and an interactive online community with over 18 million users in more than 200 countries globally.
Moomoo's parent company is the Nasdaq-listed fintech company Futu Holdings Limited ("Futu"), which is headquartered in Hong Kong SAR. Futu's subsidiary is also one of the largest brokerages in Hong Kong SAR. On March 8, 2019, Futu was listed on Nasdaq (stock symbol: FUTU).
For more information, please visit moomoo's official website at www.moomoo.com.
About Futu
Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitalized brokerage and wealth management platform. The Company primarily serves the emerging affluent population, pursuing a massive opportunity to facilitate a once-in-a-generation shift in the wealth management industry and build a digital gateway into broader financial services. The Company provides investing services through its proprietary digital platforms, Futubull and moomoo, each a highly integrated application accessible through any mobile device, tablet, or desktop. The Company's primary fee-generating services include trade execution — which allows its clients to trade securities, such as stocks, ETFs, warrants, options, and futures across different markets — as well as margin financing and securities lending. Futu has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media, and key opinion leaders.
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SOURCE Futu Holdings Limited | https://www.whsv.com/prnewswire/2022/08/30/futu-holdings-sustains-solid-growth-q2-with-us2226-million-total-revenues/ | 2022-08-30T10:44:45Z |
Debut of Pagani Huayra R Sim Racing Pedals and Showcase of 27Nm Invicta™ Wheel Base and Ecosystem
AALBORG, Denmark, Aug. 30, 2022 /PRNewswire/ -- Asetek, sim racing gear innovator, the creator of the all-in-one liquid cooler, and the global leader in liquid cooling solutions for gaming PCs and DIY enthusiasts, today announced its Pagani Huayra R Sim Racing Pedals as well as a preview of its Invicta™ Direct Drive Wheel Base and Forte™ Formula Wheel received high acclaim by sim racers and motorsports reviewers when unveiled at the Gamescom Expo in Cologne, Germany, last week.
Asetek SimSports™ exhibited products from its upcoming line of wheel bases and wheels, including a prototype of its top of the line Invicta™ Wheel Base with 27Nm of torque and a quick-release system and its Forte™ Formula wheel. Also on display was its growing portfolio of sim racing pedals including the premium performance Invicta™, high-performance high-value Forte™ and the limited edition Pagani-branded sim racing pedal set.
Gamescom 2022 is the world's largest gaming event and trade fair for computer and video games. It brings together gamers, including Sim Racers, from around the world to compete in e-sports competitions and to experience the very latest in games and gaming gear.
"At Gamecom in Germany, we were able to test prototype versions of Asetek SimSport's first direct drive wheel base and one of their upcoming steering wheels," said Thomas Harrison-Lord of Traxion.GG. "In action, we can say the paddle [on the quick-release system] is ideally located and clips right into place with consummate ease. Another benefit of the quick-release system is that it will allow for wheels featuring digital displays without the need for visible cables or Bluetooth."
"It wouldn't be fair to comment on the build quality at this stage, but there is no doubt that the potential is there for something that is market-leading depending upon availability and pricing – both of which are to be confirmed," continued Thomas Harrison-Lord.
"The actual unit we tested was clearly a prototype and was running a conservative 10Nm at the time," continued Thomas Harrison-Lord. "Despite this lower figure, feedback was sturdy with granular road surface detail fed back to the driver. It somehow felt like a higher torque figure than what was stated, which bodes well as the item nears production. We tested the Invicta wheel base with the Forte steering wheel. The wheel in particular felt like it molded to my fingers and the paddles felt great. Once again, lighting is a key component with a crisp rev counter just in your peripheral vision," stated Thomas Harrison-Lord.
"The Gamescom Expo was a great opportunity to unveil our expanded sim racing gear offerings. The excitement in the booth was palpable around the unveiling of our Pagani Huayra R Sim Racing Pedals, and interest strong in the unique design and benefits of our wheel base and wheel. I'm delighted that both end users and reviewers are embracing our growing sim racing gear offering which we've designed and developed to provide sim racers of all levels with the thrill of real-life racecar racing," said André Sloth Eriksen, CEO and founder of Asetek.
About Asetek
Asetek (ASTK.OL), a global leader in mechatronic innovation, is a Danish garage-to-stock-exchange success story. Founded in 2000, Asetek established its innovative position as the leading OEM developer and producer of the all-in-one liquid cooler for all major PC & Enthusiast gaming brands. In 2013, Asetek went public while expanding into energy-efficient and environmentally friendly cooling solutions for data centers. In 2021, Asetek introduced its line of products for next-level immersive SimSports gaming experiences. Asetek is headquartered in Denmark and has operations in China, Taiwan, and the United States.
Media contact
Margo Westfall
Asetek Sr. Marketing Manager
+1 408 644.5616
mwe@asetek.com
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With fans returning to venues in droves, Givex provides digital fan engagement solutions like Uptix stored value, gift cards and online ordering
TORONTO, Aug. 30, 2022 /PRNewswire/ - Givex Information Technology Group LTD ("Givex") (TSX: GIVX) (OTCQX: GIVXF) announced today that it has brought on 15 new professional U.S. sports teams as clients in 2022, utilizing various Givex products.
Uptix enhances the gameday experience for fans with its stored value ticketing functionality, allowing for cashless concessions with shorter lines and in-game promotions. Stored value tickets have multiple functions (season ticket holder discounts off certain items, concessions and merchandise redemptions) and a barcode that can be scanned by a Point of Sale (POS) system to redeem the funds loaded on the ticket.
"The COVID-19 pandemic emphasized the need for venues to utilize cashless digital solutions to manage concessions, merchandise, ordering and more, putting Givex in a coveted position in the industry," said Debbi Blackburn, VP Business Development at Givex. "Our Uptix product, for one, offers a multi-pronged solution that allows venue operators to surprise and delight guests with in-event promotions while driving concession revenue."
At any time during a game, venues can add value to fans' tickets in a certain section or row, which creates excitement for fans and drives revenue for concessions. Ticket holders typically spend more than the value added on their tickets, creating lift and resulting in higher concession and merchant revenues. With Uptix, clients also can track fan spending, identify key customer segments and tailor promotions to increase spending, as well as utilize stored value to handle customer service issues in real time.
Another application of Uptix is for venue employees. For example, Givex developed a cashless payment solution for a professional baseball team, already a gift card, Uptix and instant rewards client. The payment solution manages meals for employees working in the venue using QR codes on their employee badges. Employees can manually reload funds or participate in the Auto-Reload program, and can use the stored value at any POS in the ballpark.
"These new partnerships showcase Givex's ability to provide turnkey digital solutions that are easy to implement and arm venue operators with data to drive revenue and make business decisions," said Don Gray, CEO of Givex. "An Uptix client saw an average upsell of 47% per game in the month of August, and that's just one example of the many clients who see the ongoing value of Uptix and other Givex products."
For more information about Uptix, please visit https://www.givex.com/products/uptix/.
Givex (TSX: GIVX) (OTCQX: GIVXF) is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 116,000 locations across more than 100 countries. Learn more at givex.com.
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SOURCE Givex | https://www.whsv.com/prnewswire/2022/08/30/givex-announces-15-new-professional-us-sports-teams-clients/ | 2022-08-30T10:44:58Z |
A unique partnership of global leaders, Gogoro, TSMC and Taichung City share a joint vision to accelerate the smart city transformation and enable a future of clean energy and transportation.
TAICHUNG, Taiwan, Aug. 30, 2022 /PRNewswire/ -- Gogoro® Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it is partnering with Taiwan Semiconductor (TSMC) and Taichung City Taiwan to launch GoShare, Gogoro's electric mobility sharing service for the residents of Taichung City, Taiwan's second most populated.
"Sustainable energy and transportation are the future, especially in densely populated cities. It is a natural step for Gogoro and a global leader like TSMC and a visionary city like Taichung to come together to provide residents with Gogoro's two-wheel electric sharing service, GoShare," said Horace Luke, founder, chairman, and chief executive officer of Gogoro. "Together, TSMC, Taichung City and Gogoro are bringing a new era of sustainable urban transportation to Taichung's nearly 3 million residents, including subsidized access to more than 50,000 university students and more than 60,000 TSMC employees. This sets a new standard for cities across Taiwan and Asia who want to encourage sustainable transportation."
"This partnership with Taichung City and Gogoro is in line with our commitment to a sustainable future. Such an ambition can only be achieved if multiple stakeholders work together, so today marks another major milestone in our journey as we combine TSMC's wide reach in Taiwan, Taichung's commitment to sustainability, with the leadership of Gogoro in electric mobility to accelerate change and share the benefits of electric vehicles with more consumers," said Lora Ho, Senior Vice President and ESG Committee Chairperson at TSMC.
As the world's largest semiconductor maker, TSMC has accomplished a variety of sustainability initiatives to reduce the carbon footprint and achieve net zero emissions by 2050.
The new partnership includes three key initiatives:
- Gogoro GoShare Smartscooters will be available 24/7 to Taichung City's residents.
- GoShare will provide exclusive riding coupons to 50,000 freshmen in 17 universities in Taichung City.
- GoShare will expand its coverage to neighboring cities and connect multiple railway stations, playing a key role in shaping a robust urban transportation network.
In addition, TSMC joins the GoShare for Business platform to encourage employees to ride electric scooters for daily commutes. More than 60,000 TSMC employees will enjoy exclusive discounts for every GoShare ride.
"From battery swapping infrastructure to electric vehicle subsidies, Taichung City has been on the forefront of rolling out sustainable mobility solutions. Gogoro's leading innovations to deliver electric mobility and TSMC's focus on sustainability make them the perfect fit for Taichung. Together, we will create a new paradigm for cities to operate in smarter, cleaner and more sustainable ways," said Shiow-Yen Lu, Mayor of Taichung.
Taichung City is not only Taiwan's second most populated city, but it has also received international acclaim for its livable urban environment. In April 2022, the city pledged to achieve net zero emissions by 2050.
Since 2019, GoShare has 1.6 million registered users in seven cities, and has hosted 20 million rides that have saved 7 million kg of CO2 emissions, making it the most popular and impactful electric mobility sharing service in Taiwan.
Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed. Gogoro's battery swapping and vehicle platforms offer a smart, proven and sustainable long-term ecosystem for delivering a new approach to urban mobility. Gogoro has quickly become an innovation leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery availability and safety. The challenge is massive, but the opportunity to disrupt the status quo, establish new standards, and achieve new levels of sustainable transportation growth in densely populated cities is even greater. For more information, visit www.gogoro.com/news and follow Gogoro on Twitter: @wearegogoro.
This communication contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statements generally relate to future events or Gogoro's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Gogoro's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this communication include, but are not limited to, the potential of the partnership between Gogoro, TSMC and the City of Taichung Taiwan including the ability of such partnership to achieve its goals, projections of market opportunity and market share, potential growth of Gogoro's battery swapping ecosystem in Taiwan including Taichung, the capability of Gogoro's technology, Gogoro's business plans, and statements by Gogoro's founder, chairman and chief executive officer. Gogoro's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the impact of the COVID-19 pandemic, risks related to macroeconomic factors including inflation and consumer confidence, risks related to political tensions, Gogoro's ability to effectively manage its growth, Gogoro's ability to launch and ramp up the production of its products and control its manufacturing costs and manage its supply chain issues, Gogoro's risks related to ability to expand its sales and marketing abilities, Gogoro's ability to expand effectively into new markets, foreign exchange fluctuations, Gogoro's ability to develop and maintain relationships with its partners, risks related to operating in the PRC, regulatory risks and Gogoro's risks related to strategic collaborations, risks related to the China market and other international markets, alliances or joint ventures including Gogoro's ability to enter into and execute its plans related to strategic collaborations, alliances or joint ventures in order for such strategic collaborations, alliances or joint ventures to be successful and generate revenue, Gogoro's ability to raise additional capital, the risks related to the need for Gogoro to invest more capital in strategic collaborations, alliances or joint ventures, and the risk of Gogoro having to update the accounting treatment for its joint ventures. The forward looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described in Gogoro's filings with the Securities and Exchange Commission ("SEC"), including in Gogoro's Form 20-F for the year ended December 31, 2021, which was filed on May 2, 2022 and in its subsequent filings with the SEC, copies of which are available on our website and on the SEC's website at www.sec.gov. The forward looking statements in this communication are based on information available to Gogoro as of the date hereof, and Gogoro disclaims any obligation to update any forward looking statements, except as required by law.
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SOURCE Gogoro | https://www.whsv.com/prnewswire/2022/08/30/gogoro-tsmc-taichung-city-taiwan-partner-bring-sustainable-electric-two-wheel-sharing-citys-residents/ | 2022-08-30T10:45:05Z |
Amy Buick, CFRE joins firm in service of its expanding portfolio of healthcare, education clients.
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- Graham-Pelton announces the appointment of Amy C. Buick, CFRE to support its growing client base of healthcare and education institutions.
A development and fundraising leader with extensive experience and a proven track record in major giving, annual giving, alumni and donor relations, capital campaigns, and development operations, Amy most recently served as Assistant Vice President, Development for Jefferson Health – Abington and Jefferson Health – Northeast. Prior, she served as Director, Major Gifts at Jefferson Health – Abington for nearly a decade.
While with Jefferson Health, she established an Advisory Council of highly regarded business leaders, secured major gifts for the Asplundh Cancer Pavilion capital campaign, and assumed leadership of development operations for a major healthcare system acquisition, among other achievements.
"Graham-Pelton has long been a 'firm to watch,'" said Buick. "Treasured colleagues have been with the firm for many years, and I've taken much delight in observing the impact of their work with organizations on exciting growth journeys and on the profession of institutional advancement at large. I join a team focused on converting their acumen and experience to produce greater good through trust-based partnerships."
Amy has held a variety of development positions with organizations including Koch Companies Public Sector, LLC, Weill Cornell Medicine, New York University Stern School of Business, and Mercatus Center at George Mason University. Outside of fundraising, Amy started her career as a teacher and athletic coach at Stone Ridge Country Day School.
"I was fortunate to have had phenomenal mentors early in my career. There isn't a project that goes by without me reflecting on how these influential individuals might examine an opportunity or challenge at present," said Buick. "That has created in me an insatiable interest in pursuing fundraising methodologies and in enabling others to experience success, if not joy, as a result."
Amy received her Associate of Arts from Bryn Athyn College of the New Church and her Bachelor of Science from Pennsylvania State University. She received the Principals of Fundraising Certificates from New York University School of Continuing and Professional Studies and Villanova University College of Professional Studies. She is a Certified Fund Raising Executive (CFRE).
"Amy joins a strong team of fundraising advisors focused on elevating the philanthropy of our growing base of healthcare clients," said Walt Edwards, president of Graham-Pelton. "We have all been impressed by her strong track record of fundraising execution, operational excellence, and program development that drives philanthropic results."
Graham-Pelton is the fundraising consulting firm chosen by leading nonprofit organizations worldwide. Our mission is clear: elevate philanthropy so nonprofits can flourish. Graham-Pelton is a member of Collegium, a broad system of best-in-class professional service firms exclusively serving nonprofits. For more information, visit grahampelton.com.
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SOURCE Graham-Pelton Consulting, Inc. | https://www.whsv.com/prnewswire/2022/08/30/graham-pelton-appoints-academic-medical-center-fundraising-expert-firm/ | 2022-08-30T10:45:11Z |
New Employment BOOST survey data sheds light on which workers the Great Firing will affect the most and the realities for workers after the Great Resignation.
TROY, Mich. , Aug. 30, 2022 /PRNewswire/ -- New survey data from Employment BOOST, a leading professional resume writing, career coaching, and outplacement services firm co-headquartered in Chicago, Illinois and Detroit, Michigan, indicates that while less experienced workers were most likely to have leveraged the Great Resignation to obtain higher wages, these same workers are the ones who are most concerned about impending layoffs, too.
Additionally, the new survey data also indicates a correlation between the age group of workers (25-34) that benefitted the most across wages over the last 12 months is also the age group that was most likely to have changed jobs over the last 12 months. This indicates a potentially concerning last-in-first-out (LIFO) dynamic for less experienced workers as companies begin layoffs in the face of an uncertain economy – a trend that has clearly started, as evidenced by demand for outplacement services at Employment BOOST.
"There is clearly a lag between what is being reported in the news and what is happening within the workforce at the moment," says Ryan Miller, Director of Client Success at Employment BOOST. "We're seeing companies across nearly all industries reach out needing support for their employees facing upcoming layoffs and workforce reductions. Our sales velocity at Employment BOOST Outplacement is up significantly - over 100% in the last 45 days."
"It's clear in our work with companies conducting layoffs that there is a tendency to let workers who are less tenured and newer at the company go first, rather than laying off the worker who has been around longer," says Miller. "We're starting to see the effects of so much movement at the worker level play out with which workers are being laid off first, unfortunately."
"The natural management decision, especially when we consider how much hiring has gone on over the last few years, is to reward loyalty and cut workers who are newer into the company when cuts have to be made," says Dennis Theodorou, Managing Director at JMJ Phillip Executive Search, a boutique executive search firm specializing in manufacturing, supply chain, and technology. "It's all about timing and value at the end of the day. Unfortunately, if you took a job in the last 12 months you may be one of the first to get furloughed. If you hopped around for pay raises over the last two years, you may also end up on the list if the company feels you're overpaid, especially during a downturn. Unfortunately, this is the reality of what happens when you're on the edge of a recession."
To download the recently published report, please click here.
About Employment BOOST:
Employment BOOST is a Troy, Michigan and Chicago, Illinois based career services boutique that provides outplacement services, professional resume writing services and critiquing, executive resume services, cover letter development, resume distribution, personal branding, and interview coaching to job seekers across the nation. For more than a decade, Employment BOOST has consistently been helping people achieve career satisfaction. Employment BOOST's in-house team of Certified Professional Resume Writers (CPRW), Certified Professional Career Coaches (CPCC), and SHRM-Certified Professionals is unique positioned to guide today's professionals with every aspect of a job hunt and career progression. For more information on Employment BOOST, please call 888-468-6495 or visit http://employmentboost.com.
Contact:
Kane Carpenter
Employment BOOST
(216) 672-0660
Kane.carpenter@employmentboost.com
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SOURCE Employment BOOST | https://www.whsv.com/prnewswire/2022/08/30/great-firing-is-upon-us/ | 2022-08-30T10:45:20Z |
Admiral Thomas B. Fargo, USN (Ret.) will succeed William A. Furman as Chair
LAKE OSWEGO, Ore., Aug. 30, 2022 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE: GBX) today announced the election of retired four-star Admiral Thomas B. Fargo as Independent Chair of its Board of Directors, effective at Greenbrier's close of business on August 31. A board member since 2015, Fargo serves as Chair of Greenbrier's Compensation Committee and a member of the Nominating and Corporate Governance Committee. Fargo has served as the Company's Lead Director since January 2021, a position Greenbrier's Board will eliminate with the election of an independent Board Chair. Effective with the appointment of Fargo, Greenbrier's Board policy is that members identified as Chair must meet the standards of the SEC and NYSE for an independent director.
Fargo will succeed William A. Furman, Greenbrier Executive Chair since March 2022. Previously, Furman was Chairman and CEO since 2014. Furman served Greenbrier and its predecessors as a co-founder, CEO, President and director beginning in 1974. Furman will continue to serve as a board member until January 2024, completing 50 years with Greenbrier and its affiliated businesses.
Lorie Tekorius, President & CEO said, "On behalf of Greenbrier's Board of Directors, I am pleased to announce Admiral Fargo's election to Independent Chair. Greenbrier, our management team and the Board are committed to leading in corporate governance and enhancing shareholder value. Having an independent board chair reflects best practices in corporate governance. We carefully considered the qualifications of all directors before electing Admiral Fargo as Chair. His broad experience in the transportation industry and service on public company boards is substantial and he will lead Greenbrier boldly into the future."
Fargo joined Greenbrier's Board of Directors as a former military commander with subsequent private sector experience in defense, maritime and other transportation industries. As Commander of the U.S. Pacific Command (2002-2005), he led the world's largest unified command while directing the joint operations of the Army, Navy, Marine Corps and Air Force in the Asia-Pacific Theater.
Fargo also serves as Board Chair at Hawaiian Electric Industries and on the board of directors at shipping and logistics provider Matson, Inc. He was previously Board Chair at USAA, a $37 billion-dollar financial services company supporting the U.S. military and their families and Huntington Ingalls Industries, the nation's largest shipbuilder. He has also served on the boards of Northrop Grumman Corporation, Alexander & Baldwin, Inc. and Hawaiian Airlines.
"Greenbrier is fortunate to have an experienced and accomplished Board of Directors. In addition to Tom's experience on our Board, he is also well-versed in governance practices that will influence important business dynamics in the years ahead. I can't think of anyone better suited to take on the Chair position. Tom has also led Greenbrier's Compensation Committee and served on the Nominating and Governance Committee. In recent years, these committees have helped further our environmental, social and governance work, oversee our IDEAL framework and manage our executive compensation to align with industry standards. I look forward to Tom's expanded contributions as Board Chair and to seeing continued growth and development of our committees under his leadership," said William A. Furman, outgoing Executive Chair.
Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly-owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars and marine barges in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, parts, maintenance and retrofitting services in North America through our rail services business unit. Greenbrier manages 421,000 railcars and offers railcar management, regulatory compliance services and leasing services to railroads and other railcars owners in North America. GBX Leasing (GBXL) is a special purpose subsidiary that owns and manages a portfolio of leased railcars that originate primarily from Greenbrier's manufacturing operations. GBXL and Greenbrier own a lease fleet of 11,800 railcars. Learn more about Greenbrier at www.gbrx.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Greenbrier uses words such as "committed", "future", "reflects", "forward", "will" and similar expressions to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the following: negative impacts on our business from COVID-19, variants thereof, governmental reaction thereto, and related economic disruptions (including, among other factors, supply disruptions, inflation, and increases in interest rates); our ability to attract, retain and motivate senior management and other key employees. More information on potential factors that could cause our results to differ from our forward-looking statements is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic report on Form 10-K and subsequent reports on 10-Q. Except as otherwise required by law, the Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof.
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SOURCE The Greenbrier Companies, Inc. | https://www.whsv.com/prnewswire/2022/08/30/greenbrier-elects-new-board-chair/ | 2022-08-30T10:45:26Z |
Happi brings four all-natural flavors, including Maine-exclusive Lime Wild Mint, just in time for Labor Day weekend
THOMASTON, Maine, Aug. 30, 2022 /PRNewswire/ -- Celebrate Labor Day by getting to know Happi, a new female-founded cannabis-infused seltzer making its way to Maine this weekend. Happi believes that health and happiness go hand-in-hand, and life's moments—both big and small—deserve to be celebrated with the perfect sidekick. These breakthrough seltzers are made with all-natural, vegan ingredients and contain between 2.5mg-10mg of THC per can.
Happi will be bringing three of its fan favorite flavors from Michigan to Maine–Lemon Elderflower, Raspberry Honeysuckle, and Pomegranate Hibiscus. Mainers will also get an exclusive taste of Happi's newest flavor, refreshing Lime Wild Mint. Happi is made with simple ingredients and organic fruit, with just 25 calories or fewer per can, making them perfect for any occasion.
Lime Wild Mint (Maine Exclusive) 25 calories, 5mg
Carbonated Water, Organic Agave Nectar, Organic Pomegranate Juice, Organic Lime Juice, Natural Flavors, Vitamin C, Cannabis Extract
Lemon Elderflower 15 calories, 2.5mg
Carbonated Water, Organic Agave Nectar, Organic Lemon Juice, Natural Flavors, Vitamin C, Cannabis Extract
Raspberry Honeysuckle 20 calories, 5mg
Carbonated Water, Organic Agave Nectar, Organic Raspberry Juice, Natural Flavors, Organic Lemon Juice, Vitamin C, Cannabis Extract
Pomegranate Hibiscus 25 calories, 10mg
Carbonated Water, Organic Agave Nectar, Organic Pomegranate Juice, Natural Flavors, Organic Lemon Juice, Vitamin C, Cannabis Extract
Happi was launched in Michigan in 2021 by Chief Happi Officer Joe Reynolds, who saw an opportunity to develop a precisely dosed cannabis beverage, and President Lisa Hurwitz, a CPG and cannabis industry expert with a career-long focus on women's brands and products. In Maine, Happi is produced by CannaNectar Canning Co., one of the state's premier manufacturers of cannabis products.
"We're proud to give Mainers a taste of something new with the launch of Happi," says Lisa Hurwitz, President of Happi. "Our seltzers are made to be enjoyed during all of life's moments. They're refreshing and available in a variety of doses, meaning there is truly a Happi for everyone and every occasion. While we may not be able to change the world, we look forward to helping folks in Maine find their Happi place."
"CannaNectar is thrilled to be Happi's manufacturing partner in bringing this innovative cannabis-infused seltzer to the Maine market," says Mark Crockett, CEO of CannaNectar Canning Co. "We're applying our canning technology and superior team in Maine to their unique formulation to deliver consistent quality and precision dosing for a happier sipping experience."
Happi will be on shelves beginning next week at select dispensaries, including Cannabis Cured, Silver Therapeutics, and Venus and Mars. In the coming weeks, the brand plans to expand to more dispensaries across Maine.
For more information, please visit www.happihourdrink.com
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Happi is an all-natural, cannabis-infused seltzer that changed the cannabis beverage game when it debuted in 2021. There's a Happi for any occasion with four flavors made with organic fruit and a range of dosages from 2.5-10mg. Happi is currently available in Michigan and Maine.
CannaNectar Canning Co. was launched in 2021 as part of the Cannabis Cured portfolio of brands. CannaNectar is dedicated to the advancement of cannabis and the human condition through education, innovation, and science. With its focus on precision dosing and reliable canning, the production facility aims to deliver high quality, consistent cannabis-infused products to the Maine market. CannaNectar is based in Thomaston, Maine, and is led by Mark Crockett, who has been working in the Maine cannabis industry since 2012.
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SOURCE Happi | https://www.whsv.com/prnewswire/2022/08/30/happi-launches-cannabis-infused-seltzer-any-occasion-maine/ | 2022-08-30T10:45:33Z |
Leaving its mark on thrifted clothing, HEINZ Vintage Drip is a collection of 157 one-of-a-kind secondhand, ketchup-stained items, available exclusively on thredUP
TORONTO and OAKLAND, Calif., Aug. 30, 2022 /PRNewswire/ - After decades of leaving its mark on the fashion industry, today HEINZ launches a first-of-its-kind fashion collection of thrifted clothes with ketchup stains, in partnership with thredUP, one of the world's largest online resale platforms. The HEINZ Vintage Drip collection, sourced from and available exclusively on thredUP, features 157 secondhand streetwear and designer pieces, each with a unique HEINZ ketchup stain. Because when it's HEINZ, it's not a stain, it's a statement.
"While HEINZ is recognized globally for its iconic glass bottle, keystone and slow-pouring ketchup, we saw an opportunity to view the stain we've been leaving on clothes as another iconic brand symbol and change the narrative from a stain to a statement," says Alyssa Cicero, Brand Manager, Brand Communications, HEINZ. "This collection is about sustainably celebrating the character HEINZ ketchup stains add to apparel, inviting our fans to embrace a new iconic symbol."
The HEINZ Vintage Drip collection comes at a time when demand for thrifting sustainable, one-of-a-kind clothing options is at an all-time high among eco-conscious Gen Z and Millennial consumers. thredUP's 2022 Resale Report found that 62% of Gen Z and Millennials say they look for an item secondhand before purchasing it new. The global secondhand apparel market is also expected to grow by 127% by 2026 – three times faster than the global apparel market overall.
"At thredUP, we believe every piece of clothing deserves a second life -- even summer barbeque casualties," says Erin Wallace, VP of Integrated Marketing, thredUP. "We're thrilled to partner with an iconic brand like HEINZ to create the first-ever line of ketchup-stained secondhand clothes, celebrating reuse. This collection offers a unique way for fashion risk-takers and food lovers alike to participate in the circular economy, while doing good for people and the planet. We hope it makes a splash… err… drip!"
HEINZ Vintage Drip is available exclusively at thredUP.com/HEINZ with 100% of proceeds going to Rise Against Hunger in support of global hunger relief. Intentionally designed to be inclusive across size and gender, sizes range from XXS - XXL. Fans who can't get their hands on a piece from the first drop launching on August 30th, 2022, will have another chance on September 13, 2022, when more exclusive items will be released. North Americans can stay on top of the latest drops, seek style inspiration from notable thrifters and streetwear influencers, and share their drip on social using #HEINZVintageDrip, following and tagging @HEINZ or @HEINZ_ca, and @thredUP.
We are driving transformation at The Kraft Heinz Company (Nasdaq: KHC), inspired by our Purpose, Let's Make Life Delicious. Consumers are at the center of everything we do. With 2020 net sales of approximately $26 billion, we are committed to growing our iconic and emerging food and beverage brands on a global scale. We leverage our scale and agility to unleash the full power of Kraft Heinz across a portfolio of six consumer-driven product platforms. As global citizens, we're dedicated to making a sustainable, ethical impact while helping feed the world in healthy, responsible ways. Learn more about our journey by visiting www.kraftheinzcompany.com or following us on LinkedIn and Twitter.
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.
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SOURCE Kraft Heinz Canada | https://www.whsv.com/prnewswire/2022/08/30/heinz-thredup-drop-vintage-drip-collection-celebrating-iconic-ketchup-stain/ | 2022-08-30T10:45:40Z |
Results Include 515.3 g/t Silver, 28.9 % Lead, 10.5 % Zinc and 0.9 g/t Gold over 28.3 m
RENO, Nev., Aug. 30, 2022 /PRNewswire/ - i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the "Company") is pleased to announce that high-grade, silver-rich, polymetallic CRD mineralization has been discovered in drilling the Hilltop target at the Company's 100%-owned Ruby Hill Property ("Ruby Hill" or "the Property") located in Eureka County, Nevada.
Highlight results from initial drilling at the Hilltop target:
- iRH22-25 (lower horizon) – four intercepts:
- iRH22-43 (upper horizon):
Additionally, two historic holes in the Hilltop target area contain significant intercepts1:
- HC1427 (lower horizon):
- BRH-22 (upper horizon):
The Hilltop target is one of five conceptual exploration targets drilled in the 2022 program at Ruby Hill and was identified for its potential to host polymetallic (silver-lead-zinc) mineralization. The new zone of mineralization is located approximately 400 metres southwest of the poly-metallic Blackjack Zone (see Figure 1) and immediately south of the Archimedes pit and the planned portal that the Company is advancing for construction.
Mineralization in the Hilltop target consists of polymetallic carbonate replacement (CRD) in the form of massive and semi-massive sulphide mineralization containing high-grade silver (including 515.3 g/t Ag over 28.3 m & 929.7 g/t Ag over 4.6 m) and has been intersected in two areas within the Hilltop target (see Images 1 & 2). Definition and expansion drilling is underway, and the horizon remains open along strike and at depth. Mineralization has been intersected in additional holes 50 metres west of iRH22-43, for which assays remain pending.
The Ruby Hill district has a long history of high-grade polymetallic CRD mining that began in the late 1800's, resulting in production of 1.65 Moz Au, 39 Moz Ag, 625 Mlb Pb and 12 Mlb Zn from just 2 Mtons of ore through 19641. Since then, the CRD potential of the district has been largely overlooked, providing the Company what it believes to be a substantial opportunity.
The discovery of the Hilltop zone opens up a greater than 1.5 km corridor between the Archimedes pit and the original Ruby Hill mine that has historically been underexplored due to post-mineral alluvial cover. Importantly, iRH22-43 intersected massive sulfide mineralization immediately below the alluvium at a depth of 146 m. Discovery International Geophysics of Saskatchewan, Canada has been contracted to conduct downhole electromagnetic (EM) and induced polarization (IP) surveys over the area, with the goal of defining additional massive sulfide zones.
The Company is completing a large-scale surface (+20,000 metre) drill program at Ruby Hill for both deposit delineation and exploration purposes. Definition and expansion drilling is focused on the initial areas planned to be mined including the 426 Zone and the deeper Ruby Deeps Zone where recently released results include 19.8 g/t Au over 33.2 m and 7.1 g/t Au over 78.6 m in the Ruby Deeps deposit and 15.6 g/t Au over 12.2 m and 13.9 g/t Au over 13.4 m in the 426 deposit. Multiple gold and polymetallic exploration targets are also being drilled.
"At current metal prices, the rock value of the initial drill intercepts in the Hilltop Zone represent some of the highest-grade mineralization identified, on a per tonne basis, to-date at Ruby Hill", stated Ewan Downie, CEO of i-80. "Given its proximity to the underground infrastructure planned in 2023, this zone is expected to fit in to our future development and mine plans such that we ultimately expect to produce gold, silver and base metals."
It is expected that refractory mineralization from the planned underground operation at Ruby Hill will be trucked to the Company's Lone Tree facility, once operational, and oxide mineralization can be processed on-site at the existing heap leach pad, or at the existing leach plant, once refurbished. The Company is commissioning a study that will contemplate retrofitting the leach plant, once oxide mineralization is depleted, to a floatation plant that would recover base metals. i-80's substantial existing infrastructure at Lone Tree and Ruby Hill is expected to reduce potential exposure to the current inflationary environment.
The ongoing infill and step-out drill program will aide in the advancement of the Company's plan to develop an underground mine at Ruby Hill, accessed via ramp from the Archimedes open pit. Following the 2022 program, an updated mineral resource estimate is planned for the completion of an economic study. The current program at Ruby Hill is one of several ongoing and anticipated drill programs on i-80 projects in 2022 that are collectively budgeted to comprise more than 50,000 metres.
Table 1 – Highlight Assay Results from Ruby Hill Hilltop Zone
The Ruby Hill Property is one of the Company's primary assets and is host to the core processing infrastructure within the Eureka District of the Battle Mountain-Eureka Trend including an idle leach plant and an active heap leach facility and is host to multiple gold, gold-silver and poly-metallic (base metal) deposits.
Please click here for further information on abbreviations and conversions referenced in this press release.
2022 drilling samples were submitted to American Assay Laboratories (AAL) of Sparks, NV, which is an ISO 9001 and 17025 certified and accredited laboratory, independent of the Company. Samples submitted through AAL are run through standard prep methods and analyzed using FA-Pb30-ICP (Au; 30g fire assay) and 48MA-MS (48 element Suite; 0.5g 4-acid digestion/ICP-MS) methods. AAL also undertakes their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold Corp's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results.
Tim George, PE, Mine Operations Manager, reviewed the technical and scientific information contained in this press release and is a Qualified Person within the meaning of NI 43-101.
i-80 Gold Corp. is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the Company's advanced-stage property portfolio with processing at i-80's centralized milling facility that includes an autoclave.
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, the expansion or mineral resources at Ruby Hill and the potential of the Ruby Hill project. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
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SOURCE i-80 Gold Corp | https://www.whsv.com/prnewswire/2022/08/30/i-80-gold-discovers-high-grade-silver-rich-crd-mineralization-ruby-hill/ | 2022-08-30T10:45:46Z |
- Seven key clinical milestones achieved year-to-date, including positive data readouts for lemzoparlimab, uliledlimab, and TJ-CD4B
- Lemzoparlimab is on track for Phase 3 study for 1L MDS
- Amendment to the global partnership with AbbVie for certain new CD47 antibodies currently in development with up to US$1.295 billion in milestone payments
- Significant progress made on the expanded uliledlimab phase 2 NSCLC clinical trial with more complete dataset to be expected
- Continued focus on key value drivers of five clinical-stage assets with three potential BLAs within the next three years
- Repositioned commercialization strategy for felzartamab and eftansomatropin alfa
- Total cash position of US$586 million (RMB3.9 billion), sufficient to fund key business operations for more than three years
I-Mab will host conference calls and webcasts on August 30, 2022. A Mandarin session will be held at 7:00 a.m. ET and an English session will be held at 8:15 a.m. ET.
GAITHERSBURG, Md. and SHANGHAI, Aug. 30, 2022 /PRNewswire/ -- I-Mab (the "Company") (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, today announced financial results for the six months ended June 30, 2022, and provided key business updates.
During this reporting period, the Company has implemented a series of strategic initiatives that aim to re-position its overall business priorities to focus on key value drivers while preserving a strong cash position estimated to be sufficient to support its key business operations for more than three years.
Specifically, the Company will continue to drive value by leveraging its global R&D competitive advantages in immuno-oncology, which has been demonstrated in the Company's short history with such examples as lemzoparlimab, uliledlimab and TJ-CD4B. Today, our pipeline is not only innovative but also advanced as certain key assets move towards BLA and near-term commercialization, including felzartamab and eftansomatropin alfa. The Company's current business model relies on a two-pillar approach to realize the value of innovation. The first pillar is to partner out the global rights of its innovative assets after global phase 1 or phase 2 clinical validation while retaining the rights for clinical development, manufacturing, and commercialization in China. This is exemplified by the global partnership with AbbVie for lemzoparlimab. The Company will continue to pursue more partnership opportunities for other global assets in its pipeline. The second pillar is to rapidly develop the assets towards BLA and commercialization in China and then partner with large pharmaceutical companies which have well-established sales forces and proven commercialization capabilities to market the products in China. This approach is exemplified by the commercial partnership with Jumpcan for eftansomatropin alfa. The Company is seeking similar commercial partnerships for other late-stage assets, including felzartamab. In addition to the broad strategic approach outlined above, the Company is committed to the following:
Firstly, following a systematic review of its pipeline development and overall business, the Company has prioritized its resources to focus on five key clinical stage assets with 10 ongoing and planned clinical trials. These prioritized programs represent the Company's key value drivers as significant progress in these prioritized programs will not only accelerate the clinical development towards pivotal or registrational studies (such as lemzoparlimab and uliledlimab) but also facilitate global business development deals. The Company is currently pursuing potential global partnership deals for uliledlimab and TJ-CD4B.
Secondly, the Company's current commercialization strategy aims to maximize the commercial value of its pre-BLA products through commercial partnerships typically structured with upfront, regulatory, and sales milestone payments along with significant sales royalties. A commercial partnership for eftansomatropin alfa was established with Jumpcan in 2021 and is progressing as planned. By doing so, the Company is able to avoid investing significant resources to build its sales forces and instead allocate the resources to deliver the value-driver milestones or catalysts. The Company is currently pursuing a similar commercial partnership for felzartamab.
Thirdly, the Company will continue to invest in the discovery and development of its next-generation pipeline assets. I-Mab's next-generation innovative pipeline is strategically designed and driven by cutting-edge science and technology, with a focus on first-in-class and best-in-class potential. Multiple novel assets focusing on innovative bi-specific antibodies and cytokine-based immune adjuvants are on track to advance towards an IND enabling stage with a goal to achieve four to five INDs or Phase 1 study initiations around 2025.
Fourthly, through a strategy of re-positioning the pipeline to prioritize key assets with high probability of commercial success, the Company has been making significant efforts to preserve its strong cash position. As of June 30, 2022, the Company had a total cash position, consisting of cash, cash equivalents, and short-term investments, of US$586 million (RMB3.9 billion), which the Company estimates to be sufficient to fund its key business operations for over three years.
"As we weather turbulent market conditions worldwide, we must prioritize our resources to focus on value-driving assets while continuing to deliver on key milestones and strengthening the Company's fundamentals," said Dr. Jingwu Zang, Founder, Chairman, and Acting CEO. "We have achieved seven critical clinical milestones year-to-date, including positive data readouts for lemzoparlimab, uliledlimab and TJ-CD4B. In our pipeline development, we have also made significant progress on lemzoparlimab. Phase 2 data will be presented in a proffered presentation at the upcoming European Society for Medical Oncology (ESMO) Congress in September, and we are on track to initiate a registrational trial in China by the end of 2022. We expect to see additional data from the expanded phase 2 study of uliledlimab in the fourth quarter of 2022."
Dr. Zang added, "Another key focus is the current registrational studies towards anticipated BLAs between now and 2024 and subsequent commercialization for felzartamab and eftansomatropin alfa. We have a clear strategy to focus on creating value for our shareholders while preserving a strong cash position to support our key business operations for over three years."
"On the corporate development front, business development remains a key strategic priority for the Company, and we continue to pursue potential partnership opportunities. Looking ahead, we remain confident in achieving critical clinical and corporate milestones by year-end to continue to create value for our stakeholders." Dr. Zang concluded.
Updated Pipeline Development Highlights and Upcoming Milestones
The Company's drug pipeline has a number of critical features: (1) The pipeline is innovative and globally competitive, comprised of three generations of products with first-in-class and best-in-class potential. This is exemplified by the first generation of differentiated drug assets, such as felzartamab and eftansomatropin alfa, which are in registrational trial or at a pre-BLA stage, as well as novel monoclonal antibodies such as lemzoparlimab and uliledlimab, which are in phase 2 clinical trials or preparation for phase 3. The second generation of even more innovative bi-specific antibody assets, including TJ-CD4B and TJ-L14B, are in phase 1 clinical trials, followed by additional bi-specific antibody assets progressing towards an IND enabling stage. The new discovery initiatives for the third-generation innovation are on the way for high-risk and high-value drug candidates enabled by transformative technologies. (2) The pipeline is focused on immuno-oncology and biologics, leveraging its unique R&D and CMC strengths. (3) The pipeline is advanced with three assets are either in phase 3 or registrational studies or planned for phase 3. The Company expects to achieve three potential BLA submissions or market launches between 2023 and 2025.
The chart below summarizes the development status of the Company's clinical stage pipeline (pre-clinical programs are not shown).
(1) Five prioritized clinical assets:
Lemzoparlimab (Phase 3 planned): The current focus is on the combination therapy of lemzoparlimab with azacytidine (AZA) for the treatment of newly diagnosed myelodysplastic syndromes (MDS) with the goal of being first-to-market in China. The probability of success is supported by collective safety data based on nearly 200 patients from multiple clinical trials and the positive efficacy data, especially from the phase 2 study in patients with MDS. Active communications are ongoing with the China CDE and NMPA for the initiation of a registrational trial by the end of 2022, depending upon the regulatory process and the preparation of the clinical sites around the country. In parallel, two other studies, including solid tumor indications are ongoing.
Clinical development progress and update on global strategic partnership with AbbVie. Lemzoparlimab, a novel CD47 antibody developed by the Company, is being investigated through a comprehensive clinical development plan for hematologic malignancies and solid tumors. The Company's near-term priority is to initiate a phase 3 registrational trial in newly diagnosed higher-risk MDS patients by Q4 2022, potentially making lemzoparlimab the first CD47 product in China. I-Mab is currently leading three clinical studies of lemzoparlimab, with about 200 patients treated across different indications. Safety Data. Overall, the safety data from multiple clinical trials in the U.S. and China involving nearly 200 cancer patients have demonstrated a good safety profile of lemzoparlimab without the need for a priming dose regimen. Efficacy Data. Lemzoparlimab has shown encouraging efficacy signals in different tumor indications from multiple clinical trials. In particular, recent phase 2 data from lemzoparlimab combination therapy with AZA indicated that lemzoparlimab exerted a comparable level of clinical efficacy with magrolimab in a similar therapeutic setting as described below.
- Lemzoparlimab in combination with AZA for AML and MDS: Over 90 patients with newly diagnosed MDS or acute myeloid leukemia (AML) have been dosed with lemzoparlimab at 30 mg/kg in combination with AZA in China. This patient cohort had a more severe disease at baseline due to disease conditions and clinical practice patterns in China. I-Mab's recent data analysis of the MDS cohort, including over 50 patients who received the combination treatment, showed that without a priming dose, lemzoparlimab was well tolerated. The Company observed significant clinical responses as defined by the overall response and complete response rates, which improved over time (Figure 1). Detailed safety and efficacy data, along with gene mutation analysis, will be presented in a proffered paper at the European Society for Medical Oncology (ESMO) Congress 2022.
Phase 3 clinical trial of lemzoparlimab in combination with AZA as a 1L treatment for MDS. An end-of-phase 2 (EOP2) meeting request was submitted to China CDE and NMPA and discussion is ongoing with CDE to initiate a phase 3 clinical trial in patients with MDS by the end of 2022.
Lemzoparlimab in combination with rituximab for non-Hodgkin's lymphoma (NHL): The dose expansion trial is ongoing to enroll more patients. The preliminary data were reported at ASH 2021.
Lemzoparlimab in combination with PD-1 therapy for solid tumors: Phase 2 clinical trial in combination with a PD-1 antibody (pembrolizumab or toripalimab) are ongoing in patients with selected advanced solid tumors.
Update on AbbVie partnership: On August 15, 2022, the Company and AbbVie entered into an amendment to the original license and collaboration agreement dated September 3, 2020 between the parties on CD47 antibody therapies (as amended, the "Agreement"). Both parties will continue to collaborate on the global development of anti-CD47 antibody therapy under the Agreement. The Company will be eligible to receive, and AbbVie will pay, up to US$1.295 billion in the development, regulatory and sales milestone payments, and the tiered royalties at rates from mid-to-high single digit percentages on global net sales outside of Greater China for certain new anti-CD47 antibodies currently in development, or the original milestone payments and tiered royalties previously disclosed in the Company's Form 20-F for the fiscal year 2021 for other licensed products. The Company has the exclusive right to develop and commercialize all licensed products under the Agreement in Greater China.
The Company continues its commitment to lemzoparlimab development based on the accumulative safety data, without the need for a priming dosing regimen, from nearly 200 cancer patients as well as the efficacy data, especially from a Phase 2 study of combination therapy of lemzoparlimab and AZA in patients with higher risk MDS. The detailed data will be presented in a proffered paper at the European Society for Medical Oncology (ESMO) Congress in September 2022. The Company is on track to initiate a Phase 3 clinical trial in patients with MDS in China as planned.
AbbVie has discontinued the global Phase 1b study of lemzoparlimab combination therapy with AZA and venetoclax, in patients with MDS and AML. This decision was not based on any specific or unexpected safety concerns.
Uliledlimab (End of Phase 2, Pivotal Study Planned in 2023): A highly differentiated CD73 antibody being developed for solid tumor indications. The Company is currently advancing uliledlimab in two phase 2 clinical trials in the U.S. and China in selected tumor types for clinical proof-of-concept. The current development focus is on non-small cell lung cancer (NSCLC) as a combination therapy with a PD-1 antibody to aim for the potential initiation of a pivotal clinical study in 2023.
Phase 2 clinical study of uliledlimab in combination with PD-1 antibody (toripalimab) in advanced NSCLC: The Company presented the preliminary clinical results of an ongoing phase 2 clinical study of uliledlimab in combination with toripalimab (TUOYI®) in patients with NSCLC at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting. The results are largely consistent with those observed in phase 1 clinical trial in relation to favorable safety, pharmacokinetics (PK), and pharmacodynamic (PD) profile of uliledlimab. Uliledlimab appears safe and well-tolerated up to the highest doses tested at 30 mg/kg Q3W, as a monotherapy and as a combination therapy with toripalimab with no dose limiting toxicity (DLT). Uliledlimab exhibited a linear PK profile at doses ≥ 5mg/kg and a dose-dependent receptor occupancy with no "hook effect" where the antibody loses its effectiveness at high concentrations.
The phase 2 preliminary efficacy data as of March 29, 2022, are summarized as follows. Among the three NSCLC patient cohorts who were under different treatment settings, clinical responses varied. The highest clinical response rate was observed in the patient cohort with advanced NSCLC (mostly stage 4 disease) who were previously ineligible for standard of care treatment. Among 19 efficacy evaluable patients from this cohort, 5 partial responses (5 PR, overall response rate [ORR]=26%) and 9 stable disease (9 SD, disease control rate [DCR] =74%) were observed. Approximately 80% of patients in this cohort showed low PD-L1 expression in baseline tumor samples (tumor proportion score [TPS] 1-49% or TPS<1%) who were considered less responsive to a checkpoint inhibitor therapy as demonstrated in KEYNOTE-042 (ORR=16.9% for patients with PD-L1 TPS 1-49%). Notably, the clinical response observed in this patient cohort correlated with tumor CD73 expression. In a subgroup of 7 patients with high CD73 expression (≥35% expression level in tumor cells or immune cells), ORR (4 PR) was 57% with 100% DCR (3 SD) (Table 1). While the other two heavily treated NSCLC cohorts showed a lower clinical response.
Based on the preliminary data mentioned above, the phase 2 clinical trial was expanded to focus on enrolling the selected patient cohort with advanced NSCLC who were previously ineligible for standard of care treatment for further evaluation of treatment efficacy as well as the role of CD73 as a potential predictive biomarker.
The current status of the expanded phase 2 clinical trial in patients with NSCLC: As of August 2022, 47 patients have been enrolled in this expanded cohort, and more data are being collected. At a high level, the new data have further confirmed the compelling safety and encouraging efficacy signals as well as the correlation between high tumor expression of CD73 and clinical response in patients with NSCLC. The Company's goal is to speed up the expanded phase 2 study and complete the target enrollment of 60 patients within the next two months. A more complete dataset is expected by Q4 2022. The Company is seeking a suitable opportunity to present the new dataset either by the end of 2022 or early 2023. In parallel, the company is in the process of exploring a potential global partnership deal.
Development of companion diagnostic (CDx) kit of CD73: Based on the correlation data between clinical response and tumor CD73 expression, I-Mab is collaborating with WuXi Diagnostics to develop a standardized companion diagnostic kit of CD73 to be employed in the planned pivotal clinical trial in 2023.
Felzartamab (BLA ready for 3L MM, Phase 3 for 2L MM): A differentiated CD38 antibody for the treatment of relapsing and refractory multiple myeloma (MM) and potentially autoantibody-mediated autoimmune diseases such as membranous nephropathy. A new combination therapy with lemzoparlimab for high-risk MM is being investigated pre-clinically. The Company owns the rights for the development, manufacturing, and commercialization of felzartamab in Greater China from MorphoSys.
Felzartamab is positioned as the first and only locally manufactured CD38 antibody to be commercially more competitive in China. Although the current BLA plan is based on an imported drug license application, the Company has a manufacturing plan by leveraging the manufacturing facility held by I-Mab Biopharma (Hangzhou) Limited ("I-Mab Hangzhou"), an unconsolidated investee of the Company, for future commercial production with potentially low cost of goods.
China BLA ready for third-line MM: The registrational trial has been completed, and the topline data have met the preset primary and secondary endpoints. More importantly, the clinical data have confirmed the clinical advantages of felzartamab in terms of lower infusion-related reaction rate and shorter infusion time, which has made it possible for its use in an outpatient clinic setting. In January 2022, the Company signed a partnership agreement with the Hangzhou Qiantang Government in China to manufacture felzartamab locally to accelerate its commercialization. The local manufacturing plan is expected to significantly reduce the cost of goods and render felzartamab commercially more competitive. The Company is exploring potential commercial partnership for felzartamab in China, which, if successful, will enable the Company to maximize the value of felzartamab while avoiding investing significant resources in building up commercialization capability at this time.
China phase 3 trial as a second-line treatment for MM: Patient enrollment for a randomized, open-label, parallel-controlled phase 3 registrational trial of felzartamab in combination with lenalidomide as a second-line treatment for MM was completed in September 2021. The topline data package, if fully matured in 2023, is expected to support a potential BLA submission.
New potential combination therapy with lemzoparlimab: CD47 is consistently and highly expressed on MM tumor cells expressing various levels of CD38; the Company investigated the possibility of combining felzartamab with lemzoparlimab for a more effective treatment for MM in a pre-clinical setting. The results supported that the combination therapy has a synergistic effect on MM. The data have been submitted to ASH 2022 for presentation.
Eftansomatropin alfa (Phase 3, BLA ready in 2023): A differentiated long-acting growth hormone for pediatric growth hormone deficiency (PGHD). Eftansomatropin alfa is the only rhGH in its proprietary fusion protein format (pure protein-based molecule) without chemically linking with PEG or other moieties. Its safety, tolerability, and efficacy have been well demonstrated in a phase 2 clinical trial in the EU. The Company has the rights for the development, manufacturing, and commercialization of eftansomatropin alfa in China from Genexine.
Phase 3 clinical trial for PGHD: This phase 3 registrational trial (TALLER) of eftansomatropin alfa as a weekly treatment for PGHD patients is ongoing in China. On May 31, 2022, the Company announced the completion of patient enrollment in the TALLER study for treatment of PGHD. TALLER is a multi-center, randomized, open-label, active-controlled phase 3 clinical study (NCT04633057) that has enrolled 168 patients in China. The study aims to evaluate the efficacy, safety, and pharmacokinetics (PK) of eftansomatropin alfa in PGHD, as compared to Norditropin®, a daily rhGH marketed in China. Following the completion of the enrollment in May 2022, the final dataset from the TALLER study is anticipated in Q3 2023, which is expected to be followed by a BLA submission in Q4 2023 or Q1 2024.
Strategic commercial partnership with Jumpcan: In November 2021, the Company announced a strategic commercial partnership with Jumpcan, a leading domestic pharmaceutical company specializing in and committed to pediatric medicines, to accelerate the commercialization of eftansomatropin alfa. I-Mab will be the marketing authorization holder (MAH) of the product and supply the product at an agreed cost rate to Jumpcan. Jumpcan will be responsible for commercializing the product and developing new indications in collaboration with I-Mab in mainland China. Jumpcan has made an upfront payment of RMB224 million to I-Mab. Further, upon achievement of development, registration and sales milestones, I-Mab will be eligible to receive milestone payments in aggregate of up to RMB1.792 billion and total non-royalty payments up to RMB2.016 billion. In addition, I-Mab and Jumpcan will share profits generated from the commercialization of the product in mainland China on a 50/50 basis, pursuant to which I-Mab will be entitled to receive tiered low double-digit royalties on net sales. This partnership deal represents one of the largest in China's biopharma market.
TJ-CD4B/ABL111 (Phase 1): A novel Claudin 18.2 and 4-1BB bi-specific antibody is composed of a highly potent Claudin18.2 IgG with high binding affinity even in Claudin18.2 low-expressing tumors and a unique 4-1BB scFv which could stimulate T cells only upon tumor cell engagement to avoid systemic and liver toxicity. TJ-CD4B is designed to treat patients with Claudin18.2 positive gastric and pancreatic cancer. In March 2022, the Company received FDA Orphan Drug Designation for TJ-CD4B for the treatment of gastric cancer, including cancer of the gastroesophageal junction.
Phase 1 clinical trial of TJ-CD4B in patients with advanced or metastatic solid tumors: The dose escalation part of the study reached 8 mg/kg without encountering dose limiting toxicity. More data are being generated as the trial progresses. As of Q2 2022, 5 dose cohorts had been completed, with 16 subjects dosed. Regarding safety, no grade 2 TRAEs or DLTs were reported. There is a dose-dependent increase of drug exposure and soluble 4-1BB in serum, suggestive of a favorable PK/PD profile and potentially a longer dosing interval with durable T cell activation. Preliminary clinical activity was also observed, with one confirmed PR of a metastatic esophageal adenocarcinoma patient who failed three lines of prior therapies, including PD-1 therapy, and three cases of stable disease (SD). The study is currently at 8 mg/kg without significant toxicities. Additional clinical sites in China joined this phase 1 international multi-center clinical trial, with the first patient dosed at 5 mg/kg in July 2022.
(2) Other clinical assets
Efineptakin alfa (Phase 2): The world's first and only long-acting recombinant human interleukin-7 ("rhIL-7") and is designed as a monotherapy for the treatment of cancer patients with lymphopenia because of its unique properties of increasing tumor-attacking T cells and as a combination with a PD-1 or PD-L1 antibody because of its potential synergism with PD-1/PD-L1 therapy. The Company has the rights for the development, manufacturing, and commercialization of efineptakin alfa in Greater China from Genexine.
Phase 2 Clinical Trial: the first patient was dosed in a phase 2 study of efineptakin alfa (also known as TJ107) in combination with pembrolizumab (Keytruda®) in patients with advanced solid tumors in January 2022. The study follows a "basket" trial design to include selected tumor types, including triple-negative breast cancer (TNBC) and squamous cell cancer of the head and neck (SCCHN).
Clinical data published by Genexine/NeoImmuneTech: (1) According to the data from the NIT-110 dose-escalation trial presented at ASCO 2021, the combination of efineptakin alfa and pembrolizumab is safe and well-tolerated in patients with advanced solid tumors. It significantly increased T cell numbers in both tumor specimens and the peripheral blood in patients treated with efineptakin alfa. (2) Data from phase 1b/2 Keynote-899 study, presented at ASCO 2022, showed that combination treatment of efineptakin alfa with pembrolizumab (Keytruda®) induced ORR of 15.7% (8/51) for phase 1b and 21.2% (7/33) for phase 2 study in patients with metastatic TNBC. Notably, the ORR in patients with PD-L1 CPS ≥ 10 was 60% (6/10) compared to 0% (0/15) in patients with PD-L1 CPS < 10, which warrants a further study of a combination regimen for patients with PD-L1 CPS ≥ 10.
Plonmarlimab (TJM2): a monoclonal antibody targeting human granulocyte-macrophage colony-stimulating factor (GM-CSF), a cytokine that plays a critical role in acute and chronic inflammation and cytokine release syndrome (CRS) associated with CAR-T and severe COVID-19.
CRS associated with severe COVID-19: In August 2021, the Company reported positive interim analysis from the phase 2/3 trial of plonmarlimab to treat patients with severe COVID-19. Plonmarlimab treatment resulted in a higher mechanical ventilation free (MVF) rate (83.6% vs. 76.7%), a lower mortality rate (4.9% vs. 13.3%) by day 30, higher recovery rates (68.9% vs. 56.7% at day 14 and 80.3% vs. 70.0% at day 30), as well as reduced time to recovery and hospitalization duration, as compared to placebo. Biomarker results were consistent with the observed clinical outcome and indicated patients treated with plonmarlimab had a reduction in plasma levels of pro-inflammatory cytokines and chemokines critically involved in CRS, including TARC, IP10, GCSF, IL10, IL6, MCP1, IL1RA, TNF-alpha but not interferon-gamma. A transient increase in Neutrophil to Lymphocyte Ratio (NLR) that is commonly associated with disease exacerbation was only observed in placebo. Plonmarlimab was well tolerated in all patients with no significant safety concerns. The clinical data obtained so far have validated the effect of plonmarlimab on CRS, paving the way to continue exploring the therapeutic indications where CRS is a critical element of the diseases. Additional clinical data are being analyzed to determine the next step development plan. The last patient out was in February 2022, and the final clinical study report is expected in the second half of 2022. Currently, no active clinical study is ongoing.
Enoblituzumab (TJ271): A humanized B7-H3 antibody as an immuno-oncology treatment agent. Enoblituzumab works through a dual mechanism to attack tumor cells, i.e., ADCC and immune activation. The Company licensed the rights for the development and commercialization of enoblituzumab in Greater China from MacroGenics, Inc. ("MacroGenics") under a collaboration agreement (as amended from time to time, the "MacroGenics Agreement"). The Company originally planned a phase 2 clinical trial of enoblituzumab in combination with pembrolizumab (Keytruda®) in patients with selected solid tumors, including NSCLC, bladder cancer and melanoma, in China, but has not enrolled any patient in the trial. In July 2022, due to an unexpected high incidence of fatal bleeding, MacroGenics terminated a phase 2 study of enoblituzumab as a combination therapy with PD-1 antibody or PD-1/LAG3 bispecific antibody in patients with head and neck cancers. The Company exercised its right to terminate the MacroGenics Agreement by serving a termination notice on August 29, 2022, which termination will take effect in 180 days after the date of the notice.
TJ210/MOR210: A novel monoclonal antibody targeting C5aR1 to treat solid tumors through the suppression of myeloid-derived suppressor cells and modulation of tumor microenvironment in favor of enhanced anti-tumor immune response as a novel mechanism of action. The in vitro and in vivo pre-clinical studies are ongoing to explore and validate the most effective combination partner(s) of TJ210 in addition to the PD-(L)1 antibody. I-Mab has the rights for the development, manufacturing and commercialization of TJ210 from MorphoSys in Greater China and South Korea, and co-develops the asset globally with MorphoSys. Phase 1 clinical trial in patients with advanced solid tumors: The phase 1 study is ongoing in the U.S., and patient recruitment for dose escalation will be completed in Q3 2022. In addition, the clinical study report of this phase 1 study is expected in Q4 2022. The phase 1 clinical trial in Chinese patients has been approved by China NMPA. Currently, no active clinical study is ongoing.
TJ-L14B/ABL503: A novel PD-L1-based bispecific antibody with the PD-L1 arm to target PD-L1+ tumor cells and block PD-L1/PD-1 interaction and the 4-1BB arm to conditionally activate T cells upon local tumor engagement. Phase 1 clinical trial in patients with advanced solid tumors: Dose escalation of TJ-L14B monotherapy is ongoing in the U.S. in patients with advanced or metastatic solid tumors. More data are being generated as the trial progresses.
(3) Preclinical assets and programs
The Company's R&D strategy to sustain and enrich the growing innovative immuno-oncology pipeline is to generate the next generation of innovative assets enabled by cutting-edge science and technology. The goal is to achieve four to five INDs or phase 1 clinical trials within the next three years by focusing on bi-specific antibodies and so-called "super antibodies" that are enabled by new technologies, such as mRNA technology, or formatted with novel modalities such as the masking technology. Innovative immune adjuvants to activate both innate and adaptive anti-tumor immunity are also being developed. The Company has made steady progress in advancing the development of these preclinical assets culminating in successful candidate selection of two bispecific molecules early this year and another 4 molecules expected to achieve candidate selection in the near future. Two leading molecules are described below.
TJ-L1IF is a novel PD-L1/IFN-α antibody-cytokine fusion protein, which is specifically designed for the treatment of PD-1/PD-L1 resistant tumors through the addition of a strong immune adjuvant (interferon-alpha, IFN-α) to potentially convert "cold" tumor to "hot" tumor on top of a PD-L1 antibody to achieve superior anti-tumor activity than PD-(L)1 antibody monotherapy. Novel drug molecules with such design is badly needed to address the current clinical challenges where a majority of cancer patients do not or poorly respond to PD-1/PDL-1 therapies.
IFN-α was the first cytokine approved for cancer treatment, but its clinical use is highly limited due to considerable systemic toxicity. TJ-L1IF is composed of a PD-L1 VHH nanobody linked with the Fc of human IgG with an engineered IFN-α2b fused at the C-terminus. It is a prodrug in that the IFN-α2b moiety is masked by a PEG group through a protease-cleavable linker rendering the drug inactive in the systemic circulation, thus strongly reducing systemic toxicity. Once the drug accumulates at the tumor site by PD-L1 antibody targeting, the linker is cleaved by proteases that are highly expressed in the tumor environment to achieve specific activation only at the tumor site. This unique property of TJ-L1IF has been confirmed in a series of in vitro and in vivo studies, in which TJ-L1IF demonstrated plasma stability, good safety in cynomolgus monkeys, and superior anti-tumor activity in the PD-1/PD-L1 resistant tumor models, than that achieved by PD-L1 antibody or IFN-α used either alone or in combination. After the first dose of treatment, the active format of the drug was quickly detected and accumulated in the tumor but not in the periphery, confirming the local delivery and conversion to an active form of IFN-α at the tumor site (Figure 2). TJ-L1IF was developed using Affinity's TMEA technology and is now under pre-clinical development.
TJ-C64B is the Company's third bispecific molecule being developed by leveraging a conditional 4-1BB platform which has the advantage of minimizing liver toxicity with an increased therapeutic window. It is specifically designed to simultaneously target Claudin 6 (CLDN6), uniquely expressed in specific cancer types, including ovarian cancer cells, and 4-1BB expressed by T cells to mediate the T cell killing of CLDN6+ tumor cells. CLDN6 is hardly detectable in normal adult tissues to ensure treatment specificity for ovarian cancers. The Company has achieved candidate selection and is actively progressing the pre-clinical development of the candidate molecule.
TJ-C64B activates T cells through 4-1BB stimulation only upon CLDN6 engagement, providing a localized immune activation in tumors with expected efficacy and reduced systemic toxicity. Owing to a competent Fc, TJ-C64B has an added advantage of specifically depleting CLDN6-expressing tumor cells and intra-tumor regulatory T cells highly expressing 4-1BB, which differentiates it from other 4-1BB bispecific antibodies under clinical development. As published in AACR 2022, pre-clinical data showed that TJ-C64B enhances CLDN6-dependent T cell activation upon the engagement of cancer cell lines with different CLDN6 expression levels. In a syngeneic mouse model, TJ-C64B treatment induces strong anti-tumor activity with complete tumor regression in all tested mice at the dose of 4.5 mg/kg and long-term protection from tumor re-challenge through the immunological memory response. Further, ex vivo analysis confirms localized immune activation by TJ-C64B as evident by the increased CD8+ T cells, specifically those residing in tumors (Figure 3). TJ-C64B is now under pre-clinical development and the Company plans to submit an IND in the U.S. around mid-2023.
Furthermore, the third wave of innovation initiatives launched in 2021 is making good progress, with multiple innovative molecules now in candidate selection and pre-clinical stage. Among these programs, immune adjuvants are an area of focus designed to prime and amplify both innate and adaptive immune responses. The immune adjuvant portfolio is comprised of cytokine fusions and immuno-cytokines. The cytokine fusions are engineered to extend half-life with Fc fusion and detune the binding affinity and potency of natural cytokine for better safety and efficacy with site-specific mutation. The immuno-cytokines are designed to conjugate engineered cytokines e.g. by masking technology to the tumor or immune cell targeting antibody to achieve pro-longed half-life, minimal systemic toxicity, and enhanced activity by selective tumor targeting.
This growing new portfolio of novel drug candidates represents the Company's strong commitment to sustaining the global competitiveness of its pipeline through continued innovation.
Business Development and Partnership Deals
(1) Research partnerships at I-Mab are aimed at building up the next wave of innovative assets that are enabled by cutting-edge scientific research and new transformative technologies. Firstly, I-Mab collaborated with selected academic groups to investigate the new regulatory pathways involved in the activation and suppression of multiple immune cells (e.g. myeloid cells) in the tumor microenvironment, leading to the identification of new targets that can complement PD-1/PD-L1 antibody or overcome the resistant mechanism of immune checkpoint inhibitor treatment. Secondly, the Company continues to actively seek out opportunities to partner with other biotech companies which are specialized in the development of unique technology platforms in the field of protein design, engineering, and delivery. In the first half of 2022, the Company achieved three early-stage collaborations to co-develop novel antibody products in new modalities by leveraging the proprietary technologies of each partner. Moreover, in terms of the collaboration of translational research, the Company reached an agreement with WuXi Diagnostics to develop a standardized CD73 in vitro diagnostic (IVD) kit to accompany the ongoing phase 2 and planned phase 3 clinical studies with uliledlimab.
(2) Commercial partnerships are designed as the key model for near-term commercialization of upcoming products, including felzartamab and eftansomatropin alfa. For eftansomatropin alfa, the Company has been working closely with its commercial partner, Jumpcan, to prepare for the product launch and the subsequent local manufacturing plan. The Company is working towards a similar commercial partnership for felzartamab with an aim to maximize the value of felzartamab without investing heavily to build up its own sales capability.
(3) Out-licensing deals continue to remain one of the Company's corporate priorities. The Company is currently pursuing potential global partnership deals of uliledlimab and TJ-CD4B.
Near-Term Product Commercialization
With the rapid progress in clinical development, the Company's most advanced assets, i.e. felzartamab, eftansomatropin alfa, and followed by lemzoparlimab, are expected to potentially achieve BLA in China in the next two to three years.
For felzartamab, there are about 20,000 newly diagnosed MM patients in China every year, and patients with refractory or relapsed MM who are eligible for 2L and 3L treatment are about 100,000[1]. Product advantages of felzartamab in lower injection reaction rate and shorter infusion time for out-patient use, together with its advantage as potentially the first locally manufactured CD38 antibody product, put it in a competitive position in China. The Company plans to partner with a leading domestic pharmaceutical company with a well-established sales force and proven commercialization capabilities to market felzartamab in China.
For eftansomatropin alfa, approximately 3.4 million children suffer from growth hormone deficiency (PGHD) in China[2]. Eftansomatropin alfa is the only pure protein-based long-acting GH with no pegylation or chemical linkers, which potentially offers a favorable safety profile. With its unique product advantages, among the few long-acting growth hormone players, and Jumpcan's commercial leadership in pediatric therapeutic area in China, eftansomatropin alfa has the potential to become a major player in China growth hormone market.
Updates Regarding Holding Foreign Companies Accountable Act (HFCAA)
During the last six months, the Company has completed the process of evaluating and selecting a U.S. based public accounting firm that is subject to inspection by the Public Company Accounting Oversight Board (the "PCAOB") for the preparation of its audit reports commencing from the fiscal year of 2022. On August 26, 2022, the PCAOB signed a Statement of Protocol with the China Securities Regulatory Commission and the Ministry of Finance of the People's Republic of China relating to inspections and investigations by the PCAOB of audit firms based in mainland China and Hong Kong. I-Mab has noted this positive progress and will closely follow the development under the Statement of Protocol, which is expected to be executed in steps and may ultimately mitigate delisting risks under the HFCAA. In parallel, the Company will continue working on and is prepared to effect, as a contingency plan, the change of its auditor to the foregoing US based public accounting firm in the event that the progress of Statement of Protocol does not meet the deadline for the Company to mitigate the delisting risk in the 2022 financial report.
Environmental, Social and Governance (ESG) Update
In May 2022, the Company published its 2021 ESG report to summarize highlights and progress of its recent ESG practices.
Currently, females account for two-thirds of the Company's total workforce, and more than 30% of the Company's Board of Directors. The Company has previously established the Women's Leadership Council in 2020, a global program to promote gender equality, and nurture women employees through their personal and career growth. I-Mab fully understands the power of collective action by both women and men, and is dedicated to creating a diversified, equitable and inclusive workplace for all employees.
In response to urgent situations caused by Covid-19 in 2022, I-Mab immediately set up an emergency task force to deliver food supplies to employees in areas experiencing prolonged home quarantine, including daily necessities and anti-pandemic gift packs to support employees and their families affected by the pandemic in Shanghai.
In the future, the Company intends to continue to strengthen its efforts toward sustainable development and continue to strive to make consequential contributions to society.
Corporate Development
The Company further strengthened its corporate governance and senior management team:
- I-Mab appointed Mr. Richard Yeh as Chief Operating Officer and Dr. John Hayslip as Chief Medical Officer on April 28, 2022. Mr. Yeh is based in Shanghai, China. He was also appointed to join I-Mab's Board. Mr. Yeh leads I-Mab's investor relations, global alliance management, and major facilities across the world. Dr. Hayslip is based in the United States. As I-Mab's Chief Medical Officer, Dr. Hayslip leads the Company's pipeline development, addressing the key challenges in clinical sciences to increase the probability of success and the speed of clinical development for I-Mab's innovative assets.
- Appointment of Dr. Lin Li, Ph.D. nominated by Hony Capital, as a member of the Company's board of directors and a member of the Audit Committee, will become effective on August 31, 2022, replacing Ms. Xi Liu of Hony Capital, who resigned on the same day. Dr. Li served as the Company's director from July 2018 to April 2020. Dr. Li has served as a partner since March 2021 and an investment director from December 2016 to March 2021 at Hony Capital. Dr. Li worked as an associate at Snow Lake Capital (HK) Limited from November 2014 to November 2016. Dr. Li served as a senior investment manager in the cross-border investment group at Hony Capital from April 2012 to October 2014. Prior to that, he worked as an associate in the corporate finance department of Goldman Sachs Gao Hua Securities Company Limited in Beijing from July 2010 to April 2012. Dr. Li received his bachelor's degree in biology from Peking University in July 2000, Ph.D. in biology from Boston University in 2006, and a Master's degree in business administration from Harvard Business School in 2010.
- Dr. Zheru Zhang resigned from his position as the President of the Company and a director of the board effective from August 31, 2022 and was appointed as the President for I-Mab Hangzhou, an investee of the Company with a comprehensive biologics manufacturing facility in Hangzhou, China. Mr. Jielun Zhu resigned from his position as the Chief Strategy Officer of the Company on July 31, 2022 to pursue other interests.
The Company and its senior management demonstrated full confidence in the Company's fundamentals by implementing share purchase plans:
- The Company announced on August 23, 2022, that it plans to implement share repurchases pursuant to the share repurchase program previously authorized by its board of directors. On the same day, the Company was informed by Dr. Jingwu Zang, Chairman and Acting Chief Executive Officer of the Company, and other members of senior management of their intention to use personal funds to purchase the Company's American Depositary Shares (the "ADSs") on the open market. Under the share purchase plans, the Company and the senior management may purchase up to US$40 million of ADSs in aggregate. The timing and dollar amount of share repurchase and share purchase transactions will be subject to the applicable U.S. Securities and Exchange Commission rule requirements. The Company's board of directors will review the implementation of share repurchases periodically and may authorize adjustment of its terms and size.
- In January 2022, the Company's senior management executed a share purchase plan and purchased over 78,000 ADSs in aggregate on the open market.
The Company invested in I-Mab Hangzhou in 2020 as a part of the Company's overall strategic plan. On July 16, 2022, I-Mab Hangzhou entered into a definitive financing agreement with a group of domestic investors in China to raise approximately US$46 million in RMB equivalent. To date, the closing of the financing is in progress. Upon closing, the Company, through its wholly-owned subsidiary, remains the largest shareholder. Upon the occurrence of certain triggering events as specified in the shareholders agreement among I-Mab Hangzhou, I-Mab (through its wholly-owned subsidiary) and other domestic investors, including but not limited to I-Mab Hangzhou's failure to accomplish certain public offering condition, I-Mab may be obligated to repurchase the equity held by other domestic investors in cash or in I-Mab's stocks within certain time period.
The Company was ranked among the top companies in six different categories by the leading global financial publication Institutional Investor, based on its 2022 All-Asia Executive Team survey. The awards recognize I-Mab's continued strong leadership, corporate governance, ESG strategy, and investor relations capabilities. I-Mab was recognized in the "Honored Companies," "Best CEO," "Best CFO," "Best IR Professional," "Best IR Program," and "Best ESG" categories.
The Company recently hosted an R&D Day, providing a comprehensive update on its business strategy, clinical development of its key innovative assets as well as its next-generation preclinical programs, and the Company shared key repositioning strategies.
First-Half 2022 Financial Results
Cash Position
As of June 30, 2022, the Company had cash, cash equivalents, and short-term investments of RMB3.9 billion (US$586 million), compared with RMB4.3 billion as of December 31, 2021. I-Mab's strong cash balance is estimated to provide the Company with adequate funding to support its key business operations for over three years.
Net Revenues
Total net revenues for the six months ended June 30, 2022, were RMB51.9 million (US$7.7 million), compared with RMB17.8 million for the comparable period in 2021. Revenues generated for the six months ended June 30, 2022, consisted of revenues recognized in connection with the strategic collaboration with AbbVie and revenues generated from the supply of investigational products under the strategic collaboration agreement; whereby the revenues generated for the comparable period of 2021 solely consisted of the revenues recognized in connection with the strategic collaboration with AbbVie.
Research & Development Expenses
Research and development expenses for the six months ended June 30, 2022, were RMB452.6 million (US$67.6 million), compared with RMB593.0 million for the comparable period in 2021. The decrease was primarily due to the reduced demand for investigational products as the Company procured sufficient stock in 2021 and lower share-based compensation expenses. Share-based compensation expense was RMB77.6 million (US$11.6 million) for the six months ended June 30, 2022, compared with RMB112.7 million for the comparable period in 2021.
Administrative Expenses
Administrative expenses for the six months ended June 30, 2022, were RMB392.5 million (US$58.6 million), compared with RMB451.5 million for the comparable period in 2021. The decrease was primarily due to lower share-based compensation expenses in relation to management, partially offset by higher expenses for professional services. Share-based compensation expense was RMB119.3 million (US$17.8 million) for the six months ended June 30, 2022, compared with RMB222.0 million for the comparable period in 2021.
Other Income (Expenses), net
Net other expenses for the six months ended June 30, 2022, was RMB51.9 million (US$7.8 million), compared with net other income of RMB51.9 million for the comparable period in 2021. The change was primarily caused by unrealized exchange losses due to the significant fluctuation in the exchange rate of RMB against the USD in 2022.
Equity in loss of affiliates
Equity in loss of affiliates for the six months ended June 30, 2022, was RMB181.0 million (US$27.0 million), compared with RMB114.2 million for the comparable period in 2021. The change was primarily due to the increased expenditure of the Company's affiliate, I-Mab Hangzhou.
Net Loss
Net loss for the six months ended June 30, 2022, was RMB1,046.9 million (US$156.3 million), compared with RMB1,076.5 million for the comparable period in 2021. Net loss per share attributable to ordinary shareholders as of June 30, 2022, was RMB5.54 (US$0.83), compared with RMB6.38 for the comparable period in 2021. Net loss per ADS attributable to ordinary shareholders as of June 30, 2022, was RMB12.74 (US$1.90), compared with RMB14.67 for the comparable period in 2021.
Non-GAAP Net Loss
Non-GAAP adjusted net loss, which excludes share-based compensation expenses, for the six months ended June 30, 2022, was RMB848.0 million (US$126.6 million), compared with RMB729.4 million for the comparable period in 2021. Non-GAAP adjusted net loss per share attributable to ordinary shareholders for the six months ended June 30, 2022, was RMB4.49 (US$0.67), compared with RMB4.32 for the comparable period in 2021. Non-GAAP adjusted net loss per ADS attributable to ordinary shareholders for the six months ended June 30, 2022, was RMB10.33 (US$1.54), compared with RMB9.94 for the comparable period in 2021.
Subsequent Event
As a subsequent event, on August 15, 2022, the Company and AbbVie entered into an amendment to the original licensing and collaboration agreement. As a part of the amendment, AbbVie has discontinued the global Phase 1b study of lemzoparlimab combination therapy with AZA and venetoclax, in patients with MDS and AML, which in turn would lead to the noncompletion of a key milestone in the original licensing and collaboration agreement. As a result, this event is expected to result in a loss of no more than US$50.0 million for the Company in the second half of 2022.
Conference Call and Webcast Information
The Company's management will host conference calls to discuss the results and updates, and a Mandarin session conference call will be held at 7:00 a.m. ET, and an English session conference call will be held at 8:15 a.m. ET. The conference calls can be accessed by the following Zoom links:
Mandarin Session
English Session
About I-Mab
I-Mab (Nasdaq: IMAB) is a dynamic, global biotech company exclusively focused on discovery, development and soon, commercialization of novel or highly differentiated biologics in the therapeutic areas of immuno-oncology and autoimmune diseases. The Company's mission is to bring transformational medicines to patients around the world through innovation. I-Mab's innovative pipeline of more than 10 clinical and pre-clinical stage drug candidates is driven by the Company's Fast-to-Proof-of-Concept and Fast-to-Market development strategies through internal R&D and global partnerships and commercial partnerships. I-Mab has established its global footprint in Shanghai, Beijing, Hangzhou, Guangzhou, Lishui and Hong Kong in China, and Maryland and San Diego in the United States. For more information, please visit https://www.i-mabbiopharma.com and follow I-Mab on LinkedIn, Twitter and WeChat.
I-Mab Forward Looking Statements
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. I-Mab 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. Statements that are not historical facts, including statements about I-Mab'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: I-Mab's ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or NDA/BLA approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of I-Mab's drug candidates; I-Mab's ability to achieve commercial success for its drug candidates, if approved; I-Mab's ability to obtain and maintain protection of intellectual property for its technology and drugs; I-Mab's reliance on third parties to conduct drug development, manufacturing and other services; I-Mab's limited operating history and I-Mab's ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates; and the impact of the COVID-19 pandemic on the Company's clinical developments, commercial and other operations, as well as those risks more fully discussed in the "Risk Factors" section in I-Mab's most recent annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in I-Mab's subsequent filings with the SEC. All forward-looking statements are based on information currently available to I-Mab, and I-Mab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Use of Non-GAAP Financial Measures
To supplement its consolidated financial statements which are presented in accordance with U.S. GAAP, the Company uses adjusted net income (loss) as a non-GAAP financial measure. Adjusted net income (loss) represents net income (loss) excluding share-based compensation expenses. The Company's management believes that adjusted net income (loss) facilitates better understanding of operating results and provide management with a better capability to plan and forecast future periods. For more information on the non-GAAP financial measures, please see the table captioned "Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this press release.
Non-GAAP information is not prepared in accordance with GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using adjusted net income (loss) is that adjusted net income (loss) excludes share-based compensation expense that has been and may continue to be incurred in the future.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars are made at a rate of RMB6.6981 to US$1.00, the rate in effect as of June 30, 2022, published by the Federal Reserve Board.
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Businesses and investors now have the opportunity to purchase these premium domains for the first time at "buy it now" pricing.
BELLEVUE, Wash., Aug. 30, 2022 /PRNewswire/ -- Identity Digital, a leader in connecting the online world with domain names and related technologies, announces that it will release approximately 5,000 previously reserved domains at "buy it now" (first come, first served) prices. Customers can purchase the domains beginning at 17:00 UTC on Sept. 13, 2022.
Some of the domains staged for sale at that time are:
- rock.band
- Miami.dentist
- aerospace.engineer
- farm.forsale
- esports.games
- tech.guide
- trading.live
- dallas.mortgage
- clothing.sale
- security.software
- wedding.video
- box.wine
Identity Digital provides businesses with descriptive top-level domains (TLDs), allowing them to use both sides of the dot to create authentic digital identities. Identity Digital domains are also shorter, more memorable, and an excellent foundation for an effective search engine optimization (SEO) strategy.
The company anticipates the release of these domains will attract interest from a wide variety of customers. "It's always exciting when previously unavailable domain inventory is released into the market, especially domains of this quality. Each one represents a new opportunity for the user," says Matt Overman, SVP of Sales, Identity Digital. "We anticipate interest from current brands, new businesses, and domain investors alike."
Those interested in purchasing one of these domain names should contact their preferred domain registrar to check availability and pricing.
Identity Digital Inc. simplifies and connects the online world with domain names and related technologies to empower people to build, market, and own their authentic digital identities. With the world's largest portfolio of nearly 300 TLDs such as .live, .technology, and .restaurant, Identity Digital operates around 25 million domains on its innovative registry services platform. In addition, they enable customers to discover, register, support and use high-quality domain names with its registrar, Name.com. Headquartered in Bellevue, WA, Identity Digital is a global company with approximately 300 employees. For more information, please visit identity.digital.
Bella Vista Communications
(408) 458.6316
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Ink Staffing Ranks No. 51 on the 2022 Inc. 5000 Annual List
Ranks No. 1 in Indianapolis in Human Resources, No. 2 Nationally
With Three-Year Revenue Growth of 6,796 Percent, Ink Staffing Receives Ranking No. 51 Among America's Fastest-Growing Private Companies
INDIANAPOLIS, Aug. 30, 2022 /PRNewswire/ -- Inc. revealed that Ink Staffing is No. 51 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
"Through perseverance and dedication, our team has worked tirelessly to distinguish ourselves within the staffing industry. We are honored for this recognition." – Arun Jeldi, CEO
The Ink Method – introduced in 2020 by an entrepreneurial healthcare provider, Dr. Arun Jeldi, DPT, who knows firsthand the importance of recruiting highly qualified and motivated individuals to meet the challenges of workforce development in a transitioning healthcare world.
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Among the top 500, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies added more than 68,394 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, which will be available on August 23.
"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today."
"What sets Ink Staffing apart is not only the individual attention given to each client and candidate, but the continued support and encouragement to reach our highest potential through educational opportunities and experiences that enhance our dedication to our clients and future members of the Ink team." – Ink Staffing
CONTACT:
Abby Journay
(317)975-0613
ajournay@inkstaffing.com
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BEIJING, Aug. 30, 2022 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced its unaudited financial results for the second quarter ended June 30, 2022.
Second Quarter 2022 Highlights
- Total revenues were RMB6.7 billion (US$993.8 million1), decreasing 13% year over year.
- Membership services revenue was RMB4.3 billion (US$639.7 million), increasing 7% year over year.
- Operating income was RMB125.8 million (US$18.8 million) and operating income margin was 2%, compared to operating loss of RMB1.1 billion and operating loss margin of 15% in the same period in 2021.
- Non-GAAP operating income2 was RMB343.8 million (US$51.3 million) and non-GAAP operating income margin was 5%, compared to non-GAAP operating loss of RMB779.4 million and non-GAAP operating loss margin of 10% in the same period in 2021.
- Net loss attributable to iQIYI was RMB214.0 million (US$31.9 million), compared to net loss attributable to iQIYI of RMB1.4 billion in the same period in 2021.
- Non-GAAP net income attributable to iQIYI2 was RMB78.3 million (US$11.7 million), compared to non-GAAP net loss attributable to iQIYI of RMB1.1 billion in the same period in 2021.
"We fought against the gravity of macro downturn throughout the second quarter of 2022 and booked operating profit growth. The process was extremely challenging, but the result was absolutely remarkable." commented Mr. Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. "In the third quarter, we built important partnership with Douyin and PAG. This together with the positive momentum of a series of blockbuster new releases makes us more confident than ever that we will be able to deliver greater profit growth in the future."
"Our gross margin expanded in the last three consecutive quarters, reflecting ongoing gains in the ROI of our content business. Meanwhile, we kept our spending disciplined and stabilized total operating expenses in the second quarter." commented Mr. Jun Wang, Chief Financial Officer of iQIYI. "We are committed to building a healthy and sustainable business that generates long-term value for our stakeholders."
Second Quarter 2022 Financial Highlights
Second Quarter 2022 Other Operating Highlights
- The average daily number of total subscribing members3 for the quarter was 98.3 million, compared to 99.2 million for the same period in 2021 and 101.4 million for the first quarter in 2022. The average daily number of subscribing members excluding individuals with trial memberships4 for the quarter was 97.7 million, compared to 98.5 million for the same period in 2021 and 100.8 million for the first quarter in 2022.
- The monthly average revenue per membership (ARM5) for the second quarter was RMB14.53, compared to RMB13.42 for the same period in 2021 and RMB14.69 for the first quarter in 2022, increasing 8% year over year.
Second Quarter 2022 Financial Results
Total revenues reached RMB6.7 billion (US$993.8 million), decreasing 13% year over year.
Membership services revenue was RMB4.3 billion (US$639.7 million), increasing 7% year over year, primarily attributable to the increase in ARM, as we launched a variety of premium content that elevated user experiences and continued to refine operations to improve monetization capabilities.
Online advertising services revenue was RMB1.2 billion (US$178.2 million), decreasing 35% year over year, primarily due to challenging macroeconomic environment, pandemic resurgence, and our strategy leading to fewer number of variety shows launched.
Content distribution revenue was RMB479.3 million (US$71.6 million), decreasing 30% year over year, primarily due to the decrease in the value of cash transactions and barter transactions.
Other revenues were RMB698.4 million (US$104.3 million), decreasing 37% year over year, primarily due to the soft performance of various business lines.
Cost of revenues was RMB5.2 billion (US$783.5 million), decreasing 24% year over year, primarily due to lower content costs during the quarter. Content costs as a component of cost of revenues were RMB3.9 billion (US$578.7 million), decreasing 24% year over year. The decrease in content cost resulted from our improvement in content strategy and improvement in operating efficiency.
Selling, general and administrative expenses were RMB800.6 million (US$119.5 million), decreasing 32% year over year, primarily due to the decrease in marketing spending, share-based compensation expenses, and personnel-related compensation expenses.
Research and development expenses were RMB482.2 million (US$72.0 million), decreasing 29% year over year, primarily due to the decrease of personnel-related compensation expenses.
Operating income was RMB125.8 million (US$18.8 million), compared to operating loss of RMB1.1 billion in the same period in 2021. Operating income margin was 2%, compared to operating loss margin of 15% in the same period in 2021. Non-GAAP operating income was RMB343.8 million (US$51.3 million) and non-GAAP operating income margin was 5%, compared to non-GAAP operating loss of RMB779.4 million and non-GAAP operating loss margin of 10% in the same period in 2021.
Total other expense was RMB291.0 million (US$43.4 million), compared to total other expense of RMB226.4 million during the same period of 2021. The year over year increase was a combined result of the foreign exchange loss driven by the appreciation of U.S. dollar against Renminbi, decreased interest expenses mainly due to the adoption of ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity and less principal amount of convertible bond, as well as the fluctuation of other items.
Loss before income taxes was RMB165.2 million (US$24.7 million), compared to loss before income taxes of RMB1.3 billion in the same period in 2021.
Income tax expense was RMB36.2 million (US$5.4 million), compared to income tax expense of RMB30.4 million in the same period in 2021.
Net loss attributable to iQIYI was RMB214.0 million (US$31.9 million), compared to net loss attributable to iQIYI of RMB1.4 billion in the same period in 2021. Diluted net loss attributable to iQIYI per ADS was RMB0.28 (US$0.04) for the second quarter of 2022, compared to diluted net loss attributable to iQIYI per ADS of RMB1.75 in the same period of 2021. Non-GAAP net income attributable to iQIYI was RMB78.3 million (US$11.7 million), compared to non-GAAP net loss attributable to iQIYI of RMB1.1 billion in the same period in 2021. Non-GAAP diluted net income attributable to iQIYI per ADS was RMB0.10 (US$0.01), compared to non-GAAP diluted net loss attributable to iQIYI per ADS of RMB1.33 in the same period of 2021.
As of June 30, 2022, the Company had cash, cash equivalents, restricted cash and short-term investments of RMB4.9 billion (US$733.0 million).
Conference Call Information
iQIYI's management will hold an earnings conference call at 7:00 AM on August 30, 2022, U.S. Eastern Time (7:00 PM on August 30, 2022, Beijing Time).
Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, passcode and unique access PIN by a calendar invite.
Participant Online Registration: https://s1.c-conf.com/diamondpass/10024346-sgdy7f.html
It will automatically direct you to the registration page of " iQIYI Second Quarter 2022 Earnings Conference Call", where you may fill in your details for RSVP.
In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.
A telephone replay of the call will be available after the conclusion of the conference call through September 6, 2022.
Dial-in numbers for the replay are as follows:
International Dial-in +1 855 883 1031
Passcode: 10024346
A live and archived webcast of the conference call will be available at http://ir.iqiyi.com/.
About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. We produce, aggregate and distribute a wide variety of professionally produced content, or PPC, as well as a broad spectrum of other video content in a variety of formats. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency, online literature, etc.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the quotations from management in this announcement, as well as iQIYI's strategic and operational plans, contain forward-looking statements. iQIYI may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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. Statements that are not historical facts, including but not limited to statements about iQIYI'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: iQIYI's strategies; iQIYI's future business development, financial condition and results of operations; iQIYI's ability to retain and increase the number of users, members and advertising customers, and expand its service offerings; competition in the online entertainment industry; changes in iQIYI's revenues, costs or expenditures; Chinese governmental policies and regulations relating to the online entertainment industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and iQIYI undertakes no duty to update such information, except as required under applicable law.
Non-GAAP Financial Measures
To supplement iQIYI's consolidated financial results presented in accordance with GAAP, iQIYI uses the following non-GAAP financial measures: non-GAAP operating (loss)/income, non-GAAP operating (loss)/income margin, non-GAAP net (loss)/income attributable to iQIYI, non-GAAP diluted net (loss)/income attributable to iQIYI per ADS and free cash flow. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.
iQIYI believes that these non-GAAP financial measures provide meaningful supplemental information regarding its operating performance by excluding certain items that may not be indicative of its business operating results, such as operating performance excluding non-cash charges or non-operating in nature. The Company believes that both management and investors benefit from referring to the non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to iQIYI's historical operating performance. The Company believes the non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that the non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a significant component in the Company's results of operations. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data.
Non-GAAP operating (loss)/income represents operating (loss)/income excluding share-based compensation expenses, amortization and impairment of intangible assets resulting from business combinations and non-recurring employee severance costs.
Non-GAAP net (loss)/income attributable to iQIYI, Inc. represents net (loss)/income attributable to iQIYI, Inc. excluding share-based compensation expenses, amortization and impairment of intangible assets resulting from business combinations, non-recurring employee severance costs, disposal gain or loss, impairment of long-term investments, fair value change of long-term investments, adjusted for related income tax effects. iQIYI's share of equity method investments for these non-GAAP reconciling items, amortization and impairment of intangible assets not on the investees' books, accretion of their redeemable non-controlling interests, and the gain or loss associated with the issuance of shares by the investees at a price higher or lower than the carrying value per shares, adjusted for related income tax effects, are also excluded.
Non-GAAP diluted net (loss)/income per ADS represents diluted net (loss)/income per ADS calculated by dividing non-GAAP net (loss)/income attributable to iQIYI, Inc, which is adjusted for accretion for the redeemable non-controlling interests, by the weighted average number of ordinary shares expressed in ADS.
Free cash flow represents net cash provided by operating activities less capital expenditures.
For more information, please contact:
Investor Relations
iQIYI, Inc.
+ 86 10 8264 6585
ir@qiyi.com
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SOURCE iQIYI, Inc. | https://www.whsv.com/prnewswire/2022/08/30/iqiyi-announces-second-quarter-2022-financial-results/ | 2022-08-30T10:46:13Z |
BEIJING, Aug. 30, 2022 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced that the Company has entered into a definitive agreement with PAG Asia, PAG Pegasus and/or their affiliates (collectively, the "Investors"), a leading investment firm in Asia, pursuant to which the Investors will subscribe for an aggregate amount of US$500 million convertible notes (the "Notes") to be issued by the Company. The Company has granted the Investors an option, exercisable within two months from the closing date of the transaction, to subscribe for an additional amount of up to US$50 million of the Notes, under the same terms and conditions. The transaction is expected to close in the fourth quarter of 2022, subject to closing conditions.
The Notes will bear an interest rate of 6% per annum and will mature on the fifth anniversary of the issuance date. The Notes may be convertible into the Company's American depositary shares, each currently representing seven Class A ordinary shares of the Company, at the holder's option and subject to the terms of the Notes, at a conversion premium of 20% above the volume weighted average price of the 20 trading days prior to, and including, August 29, 2022. Holders of the Notes have the right to require the Company to repurchase for cash all or part of their Notes, at a repurchase price equal to 120% and 130% of the principal amount of the Notes on or shortly after the third anniversary of the issuance date and the fifth anniversary of the issuance date, respectively. Holders also have the right to require the Company to repurchase for cash all or part of their Notes in the event of certain fundamental changes. Upon closing of the transaction and satisfaction of certain condition, PAG Asia shall be entitled to appoint one member to the board of directors of the Company.
The issuance of the securities under such transaction is exempt from registration under the Securities Act of 1933, as amended (the "Securities Act") pursuant to Section 4(a)(2) of the Securities Act regarding transactions not involving a public offering and in an offshore transaction in reliance upon Regulation S under the Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. We produce, aggregate and distribute a wide variety of professionally produced content, or PPC, as well as a broad spectrum of other video content in a variety of formats. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency, online literature, etc.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. iQIYI may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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. Statements that are not historical facts, including but not limited to statements about iQIYI's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and iQIYI undertakes no duty to update such information, except as required under applicable law.
For further information, please contact:
Investor Relations
iQIYI, Inc.
+ 86 10 8264 6585
ir@qiyi.com
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SOURCE iQIYI, Inc. | https://www.whsv.com/prnewswire/2022/08/30/iqiyi-announces-us500-million-private-placement-convertible-notes-with-pag/ | 2022-08-30T10:46:20Z |
SINGAPORE, Aug. 29, 2022 /PRNewswire/ -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company", formerly known as YY Inc.), a global video-based social media company, announced its unaudited financial results for the second quarter of 2022.
JOYY's total revenues in the second quarter of 2022 were US$596.1 million, with BIGO's revenues reaching US$502.6 million. In the second quarter of 2022, JOYY's non-GAAP net income[1] (excluding YY Live) was US$51.5 million with a corresponding non-GAAP net income margin[1] of 8.6% (compared to -0.1% in the corresponding period in 2021). BIGO generated US$86.3 million in net income with a corresponding net income margin of 17.2% (compared to 3.3% in the corresponding period in 2021). In the second quarter of 2022, JOYY recorded positive net operating cash flow of US$61.7 million.
David Xueling Li, Chairman and CEO of JOYY, commented, "The steady expansion in our profitability in the second quarter amidst current market conditions demonstrated improved efficiency and resilience of our business. We saw positive outcomes from continued iteration of our product features and cultivation of our user community, as Bigo Live's MAU maintained its solid growth momentum, increasing by 10.6% year over year to 32.6 million. The current macro environment has not undermined our proven capabilities in capturing growth potential in the social entertainment sector nor our long-term outlook on the industry. We view the current market fluctuations as opportunities to deepen our focus and plan for the future. By continuing to cultivate diversified, premium content, innovate interactive features, and organize tailored local activities, we will further improve our user experience, and ultimately drive the growth of our user community and global business. We remain committed to generating value for our users and creators while improving efficiency and enhancing resilience. As we continue to invest in building our long-term capabilities, we firmly believe that JOYY will emerge from the current uncertainties as a more focused and productive company, and be well positioned to capture long-term growth and generate sustainable shareholder value."
Second Quarter 2022 Financial Highlights
- Net revenues for the second quarter of 2022 were US$596.1 million.
- Net income from continuing operations attributable to controlling interest of JOYY for the second quarter of 2022 were US$18.7 million, compared with net loss of US$109.3 million in the second quarter of 2021. Net income margin for the second quarter of 2022 was 3.1%, compared with net loss margin of 16.5% in the second quarter of 2021.
- Non-GAAP net income[1] from continuing operations attributable to controlling interest and common shareholders of JOYY for the second quarter of 2022 was US$51.5 million, compared to non-GAAP net loss of US$0.5 million in the second quarter of 2021. Non-GAAP net income margin[1] for the second quarter of 2022 was 8.6%, compared to non-GAAP net loss margin of 0.1% in the second quarter of 2021.
- As of June 30, 2022, JOYY had cash and cash equivalents, restricted cash and cash equivalents, short-term deposits, restricted short-term deposits and short-term investments of US$4,289.2 million. For the second quarter of 2022, net cash inflow from operating activities was US$61.7 million.
Second Quarter 2022 Business Highlights
Bigo Live
Bigo Live continued to focus on the innovation of product features and effective local operations. In the second quarter, Bigo Live's MAU grew by 10.6% year over year to 32.6 million, with its MAU in Southeast Asia and other regions increasing by 18.6%, and MAU in Europe increasing by 8.7%. To help users in the Middle East and certain Southeast Asian countries celebrate their Ramadan holiday, Bigo Live launched a series of live events tailored to local traditions, including cooking sessions, quiz shows, and singing contests, and invited local celebrities and influencers to demonstrate the unique cultural traditions of their regions. Bigo Live's new "Community" feature, which was launched last quarter, continued to contribute to content diversification and user engagement improvements in the BAR channel. BAR's average views per user and the volume of video content sequentially increased by 14.1% and 7.3%, respectively. Bigo Live also upgraded its "Virtual Live" feature to enable a trendier livestreaming experience for its users, driving up the number of users and cumulative time spent on Virtual Live sessions substantially compared to the previous quarter.
Likee
In mid-June, Likee launched a new feature called "Loop" in the U.S. and Europe. Loop is a community feature that connects users with similar interests. Shortly after Loop was launched, the anime community had shared more than 6 million episodes of video content, and over 50% of the users in the anime community were following one another. Likee also achieved steady improvements in user engagement and stickiness, with the average time spent on Likee per user increasing sequentially by 10.2% globally and by 22.7% in the regions where Loop was introduced. During the second quarter, in addition to launching a variety of localized campaigns, Likee partnered with four charities in the Middle East and South Asia to launch a cross-regional donation campaign. More than 200,000 users participated in the "Ramadan" campaign by logging in to Likee and collecting "energy points", which were later converted into monetary donations made by Likee through local charities.
Hago
In the second quarter, Hago's livestreaming revenue increased by 7.1% year over year, and its number of paying users grew by 12.8% over the same period. As Hago continued to optimize its content recommendation algorithm, user engagement improved, as evidenced by a sequential increase in its featured channel penetration rate of 1.8%. During the quarter, Hago focused on updating its newly launched "3D Hago space" feature. Hago introduced more localized makeup, costumes, and accessories, enabling users to customize their 3D avatars according to their personal and cultural preferences. Additional interactive items and 3D virtual scenes were also launched, both of which were well received by Hago users, boosting Hago Space's next-day user retention rate by 14.9% on a quarter-over-quarter basis.
About JOYY Inc.
JOYY is a leading global social media company that enables users to interact with each other in real time through online live media. On a mission to connect people and enrich their lives through video, JOYY currently operates several social products, including Bigo Live for livestreaming, Likee for short-form videos, Hago for multiplayer social networking, an instant messaging product, and others. The Company has created a highly engaging and vibrant user community for users across the globe. JOYY was listed on the NASDAQ in November 2012.
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" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as JOYY's strategic and operational plans, contain forward-looking statements. JOYY may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("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 fourth parties. Statements that are not historical facts, including statements about JOYY'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: JOYY's goals and strategies; JOYY's future business development, results of operations and financial condition; the expected growth of the global online communication social platform market; the expectation regarding the rate at which to gain active users, especially paying users; JOYY's ability to monetize the user base; fluctuations in general economic and business conditions; the impact of the COVID-19 to JOYY's business operations and the global economy; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in JOYY'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 JOYY does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact:
JOYY Inc.
Jane Xie/Maggie Yan
Email: joyy-ir@joyy.com
ICR, LLC
Robin Yang
Tel: (+1) 646 915-1611
Email: joyy@icrinc.com
[1]. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports Second Quarter 2022 Unaudited Financial Results" issued by the Company on August 30, 2022.
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SOURCE JOYY Inc | https://www.whsv.com/prnewswire/2022/08/30/joyy-reports-second-quarter-2022-results-improving-profitability-continuing-user-centric-innovation/ | 2022-08-30T10:46:26Z |
- Donation is an extension of Kia's "Accelerate The Good" CSR initiatives
MONTEREY, Calif., Aug. 30, 2022 /PRNewswire/ -- As part of the U.S. debut of the highly anticipated all-electric Kia EV6 GT during Monterey Car Week, Kia America made a monetary donation to Women In Motorsports North America. Unveiled during The Quail, an annual and exclusive gathering of exotic and historic supercars, the 576-hp EV6 GT is the most powerful Kia ever produced and marks a new era in electrification for the brand and further solidifies Kia's leadership position in sustainable mobility.
"The EV6 GT is the continuation of Kia's transformation and is the next phase of our Plan S strategy which will see Kia offer 14 fully-electric models globally by 2027," said Russell Wager, vice president, marketing, Kia America. "The EV6 GT is an entirely new level of performance for Kia and as part of its U.S. premiere we wanted to support the communities in which we live and work by helping the causes and organizations that align with Kia's core values."
Kia's partnership with Women In Motorsports North America, a 501c3 co- founded by former race car driver Lyn St. James, was designed to encourage diversity in the field of motorsports. St. James competed in the IndyCar series and was the first woman to earn Indy 500 Rookie of the Year honors and is one of nine women to have qualified for the Indianapolis 500. The mission of Women In Motorsports is to provide an inclusive, resourceful environment that fosters mentorship, advocacy, education, and growth to ensure a successful future for women in the field of professional motorsports.
Kia America - about us
Headquartered in Irvine, California, Kia America continues to top automotive quality surveys and is recognized as one of the 100 Best Global Brands. Kia serves as the "Official Automotive Partner" of the NBA and offers a range of gasoline, hybrid, plug-in hybrid, and electrified vehicles sold through a network of more than 750 dealers in the U.S., including several cars and SUVs proudly assembled in America.
For media information, including photography, visit www.kiamedia.com. To receive custom email notifications for press releases the moment they are published, subscribe at www.kiamedia.com/us/en/newsalert.
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SOURCE Kia America | https://www.whsv.com/prnewswire/2022/08/30/kia-america-continues-accelerate-good-through-charitable-donation-women-motorsports-north-america-part-us-debut-high-performance-kia-ev6-gt/ | 2022-08-30T10:46:33Z |
Switchback Reclining Camp Chair Enables Campers to Lean Back and Relax
KAYSVILLE, Utah, Aug. 30, 2022 /PRNewswire/ -- Klymit, a leading producer of lightweight and comfortable, yet rugged outdoor sleep gear and camping accessories, announced today the Switchback Reclining Camp Chair which features three adjustable reclining positions, a high back for optimal head and neck support and foam-lined armrests. The features culminate to provide the ultimate lounging experience, perfect for relaxing around the campfire, in the backyard or even at sporting events. The Switchback Reclining Camp Chair is now available exclusively at Klymit.com for $119.99 MSRP.
"Infusing comfort into outdoor experiences drives innovation at Klymit," said Cory Tholl, President, Klymit. "Our new Switchback Reclining Camp Chair ensures outdoor enthusiasts are met with comfort and support even in the most rugged settings. From the three-position adjustability to the high-back head and neck support, each design decision was intentional, ensuring our customers never have to sacrifice comfort to enjoy their time in the outdoors."
Features of Klymit's all-new Switchback Reclining Camp Chair include:
- Reclining action with three adjustable positions
- High back to support your neck and head
- Durable steel frame for support and stability
- Comfortable foam-lined arm rests
- Breathable mesh panels for temperature control
- Durable polyester fabric for easy cleaning
- Side pocket perfect for storing a phone, keys or other accessories
- Hideaway cup holder
- Attached carry strap for convenient transport
Klymit is part of the Gathr Outdoors family of brands which is committed to making spending time together outdoors more comfortable and convenient. For more information on Klymit visit, www.Klymit.com. For more information on Gathr Outdoors visit, www.GathrOutdoors.com.
Klymit is a leading producer of lightweight and comfortable, yet rugged outdoor sleep gear, and part of the Gathr Outdoors family of brands. The company is headquartered in Kaysville, Utah and was conceived on the idea that the experience of sleeping outside can be enhanced with innovative technologies. For more information on Klymit visit: www.Klymit.com.
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SOURCE Gathr Outdoors | https://www.whsv.com/prnewswire/2022/08/30/klymit-introduces-new-comfort-focused-camping-chair-featuring-three-adjustable-reclining-positions/ | 2022-08-30T10:46:40Z |
New data-driven index finds buyers now have the advantage in San Diego, San Francisco and San Jose
- Nearly all of the 100 largest housing markets moved toward favoring buyers in July
- Big changes are coming: Boise, Idaho, Phoenix and Colorado Springs, Colo., are among the 15 housing markets that will favor buyers by mid-2023
- After a 71% run-up in home prices during the pandemic, Austin, Texas, is poised to become one of the most favorable buyers' markets
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- Knock, the fast-growing fintech company that makes all homebuyers Power Buyers, today announced the launch of the Knock Buyer-Seller Market Index, which revealed the U.S. housing market began to shift in July toward buyers for the first time since 2017. The new index analyzes key housing market metrics to measure the degree to which of the nation's 100 largest markets favor home buyers or sellers.
According to the index, all 100 markets strongly favored sellers through the first five months of 2022 with the month of April being the best time to sell a home since the beginning of 2017, the start of the index's data series. June was the first time the market dipped below historic peaks for sellers, with July indicating a significant shift in market dynamics.
"At Knock, our mission is to bring certainty, convenience and cost savings to buying and selling homes. Our Buyer-Seller Market Index is designed to help people make more educated decisions about the best time to buy and sell," said Knock Co-Founder and CEO Sean Black. "After two years of homes selling quickly and often well-above list prices, we are beginning to see a more balanced market. With the overall U.S. housing market projected to equally favor buyers and sellers by June 2023, home shoppers may see the most favorable conditions in recent history. At the same time, that doesn't mean a return to 2008. Sellers, who have already seen substantial equity gains in recent years, will still hold the advantage in many markets."
Fewer than 150,000 homes were sold across the nation's 100 largest housing markets in July, the lowest monthly sales figure in 12 months and down 50.7% since July 2021. The nation's housing inventory rose 6.8%, median days on market increased 27.3% and median sale price for all housing types was up 9.6%.
Eighty-one of the 100 largest metropolitan areas favored sellers in July. Three markets in California – San Diego, San Francisco and San Jose – moved from sellers' to buyers' markets as home prices dropped by more than 60% and days on market also rose significantly over the same period last year. In a buyers' market, sellers are more likely to accept a lower price than the list price. The opposite is true in a sellers' market where homes often sell for more than the list price.
Sixteen metros – Salt Lake City; Phoenix; Los Angeles; Boise, Idaho; Atlanta; Nashville, Tenn.; Bakersfield, Calif.; Fresno, Calif.; Riverside, Calif.; Colorado Springs, Colo.; New Orleans; Orlando, Fla.; Portland, Ore.; Tampa, Fla.; Denver and Oxnard, Calif. – moved from favoring sellers to neutral, favoring neither buyers or sellers.
Despite a majority of markets considered to be sellers' markets, nearly all of the 100 largest housing markets moved closer toward favoring buyers. The only exception was Fayetteville, N.C., where at $235,000 the median home price remains relatively low, but has risen quickly and homes sell in six days, less than half the national median day on market.
March will be the best time to sell in 2023; Austin will see the biggest shift
For homeowners looking to maximize profit, March is likely to be the best month to sell their home. As the market continues to become more balanced, 15 of the 100 largest housing markets are projected to favor buyers by July 2023, while 27 more are expected to move to neutral territory, where neither buyers or sellers have the upperhand.
Austin, Texas, is projected to see the most dramatic shift toward buyer favorability of any city in the index – transitioning from what has been a strong sellers' market in recent years into one of the most favorable buyers' markets in the nation. The median sales price in Austin rose 71% compared to July 2019. Nationally, the median home price was up 39.9% over the same period.
Naples, Fla., a hot housing relocation market during the pandemic, is projected to have the longest days on market by mid-2023, at 57 days, meaning homebuyers are likely to encounter far more options when seeking a home purchase. Toledo, Ohio, ranks second at 30 days — down slightly from this past July, when the city had the longest median days on market figure in the nation, at 32 days.
Springfield, Mo., will have the shortest list-to-sale at 4.5 days, indicating competition for housing is likely to be very high. In addition to Springfield, median days on market are projected to be fewer than six days in the following nine markets: Akron, Ohio; Fayetteville, N.C.; Cleveland; St. Louis; Oklahoma City; El Paso, Texas; Winston-Salem, N.C. and Greensboro, N.C.
As more markets slowly shift toward favoring buyers, median sales prices are expected to decline, but only to a point. After reaching a low in January 2023, the median-priced home in the U.S. is expected to reach $427,000 by June 2023. The Index predicts that California and Florida will favor buyers with North Carolina and the Northeast emerging as sellers' markets.
To view the full report, including charts and metro-level data for the 100 largest markets, please visit: https://www.knock.com/blog/buyers-sellers-market-index-report-august-2022/
The index comprises six measures: the ratio of average sale to asking price, number of homes sold, number of active listings, median days on market, median sale price and the rolling supply of homes in a given month. It uses data on more than 150 million properties in the nation's 100 largest metropolitan areas since 2017 from a number of sources. Median days on market data is not available for seven of the 100 largest markets (Boise, Idaho; Richmond, Va.; Seattle; Allentown, Penn.; Portland, Maine; New Haven, Conn. and Bridgeport, Conn.)
Index values range from -4 to 4, with lower values indicating a relatively favorable market for buyers and higher values indicating a relatively favorable market for sellers. Index values ranging around zero denote a somewhat neutral housing market.
Knock is rewriting the rules of homeownership with mobile technology and innovative home financing solutions that make all homebuyers Power Buyers. Knock's flagship Home Swap™ product empowers consumers with a non-contingent offer on their phone to buy the home they want before selling the home they have, providing certainty knowing you've found your dream home and the convenience of not having to live through repairs or showings. Knock GO™ (Guaranteed Offer) is a cash-like home loan solution for first-time homebuyers looking to compete in today's hot housing market.
Launched in 2015 by founding team members of Trulia.com, Knock currently operates in 75 markets nationwide. Knock has raised $900 million in debt and equity from top-tier investors, including Foundry Group, Greycroft, RRE, Parker89 and The National Association of Realtors®, giving NAR's 1.5 million members the ability to market Knock's homeownership solutions to their clients. For more information visit: knock.com.
Contact: pr@knock.com
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SOURCE Knock | https://www.whsv.com/prnewswire/2022/08/30/knocks-new-buyer-seller-index-shows-three-housing-markets-now-buyers-markets-with-dozen-more-flipping-by-june-2023/ | 2022-08-30T10:46:46Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Kiromic BioPharma, Inc. (NASDAQ: KRBP) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of a class consisting of persons and entities that purchased or otherwise acquired: (a) Kiromic common stock issued in connection with the Company's public offering that closed on July 2, 2021 and/or (b) Kiromic common stock between June 25, 2021 and August 13, 2021, both dates inclusive.
Lead Plaintiff Deadline: October 4, 2022
No obligation or cost to you.
Learn more about your recoverable losses in KRBP:
https://www.kleinstocklaw.com/pslra-1/kiromic-biopharma-inc-loss-submission-form?id=31229&from=4
CLASS ACTION CASE DETAILS: The complaint alleges that the registration statement and prospectus issued in connection with the Company's public offering that closed on July 2, 2021 (the "Offering Documents") failed to disclose that the Food and Drug Administration ("FDA") had, prior to the filing of these documents, imposed a clinical hold on the Company's Investigational New Drug ("IND") applications for its two new drug candidates. Given that the offering closed on July 2, 2021, more than thirty (30) days after the Company submitted the IND applications for its two immunotherapy product candidates, investors were assured that no clinical hold had been issued and clinical trials would commence.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Kiromic you have until October 4, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Kiromic securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the KRBP lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/kiromic-biopharma-inc-loss-submission-form?id=31229&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/krbp-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-4-2022-class-action-filed-behalf-kiromic-biopharma-inc-shareholders/ | 2022-08-30T10:46:53Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of LifeStance Health Group, Inc. (NASDAQ: LFST) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all purchasers of LifeStance common stock pursuant and/or traceable to the documents issued in connection with LifeStance's June 10, 2021 initial public stock offering.
Lead Plaintiff Deadline: October 11, 2022
No obligation or cost to you.
Learn more about your recoverable losses in LFST:
https://www.kleinstocklaw.com/pslra-1/lifestance-health-loss-submission-form?id=31231&from=4
LifeStance Health Group, Inc. NEWS - LFST NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that LifeStance Health Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the number of virtual visits clients were undertaking utilizing LifeStance Health was decreasing as the COVID-19 lockdowns were being lifted, thereby flatlining LifeStance Health's out-patient/virtual revenue growth; (ii) the percentage of in-person visits clients were undertaking utilizing LifeStance Health was increasing as the COVID-19 lockdowns were being lifted, thereby causing LifeStance Health's operating expenses to increase substantially; (iii) LifeStance Health had lost a large number of physicians due to burn-out and, as a result, its physician retention rate had fallen significantly below the 87% highlighted in the initial public offering's registration statement, and LifeStance Health had been expending additional costs to onboard new physicians who were less productive than the outgoing physicians they were replacing; and (iv) as a result, LifeStance Health's business metrics and financial prospects were not as strong as the initial public offering's registration statement represented.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in LifeStance you have until October 11, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased LifeStance securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the LFST lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/lifestance-health-loss-submission-form?id=31231&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/lfst-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-11-2022-class-action-filed-behalf-lifestance-health-group-inc-shareholders/ | 2022-08-30T10:47:00Z |
SHANGHAI, Aug. 30, 2022 /PRNewswire/ -- LightInTheBox Holding Co., Ltd. (NYSE: LITB) ("LightInTheBox" or the "Company"), a cross-border e-commerce company that delivers products directly to consumers around the world, today announced that it will release its unaudited financial results for the second quarter ended June 30, 2022 before the open of U.S. markets on Tuesday, September 6, 2022.
LightInTheBox's management will hold a conference call to discuss the results at 8:00 a.m. Eastern Time on September 6, 2022 (8:00 p.m. Beijing Time on the same day).
Preregistration Information
Participants can register for the conference call by navigating to https://s1.c-conf.com/diamondpass/10024891-4mlfy6f.html. Once preregistration has been complete, participants will receive dial-in numbers, an event passcode, and a unique access PIN.
To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the event passcode followed by your unique access PIN, and you will be joined to the conference instantly.
A telephone replay will be available two hours after the conclusion of the conference call through September 14, 2022. The dial-in details are:
Additionally, a live and archived webcast of the conference call will be available on the Company's Investor Relations website at http://ir.lightinthebox.com.
About LightInTheBox Holding Co., Ltd.
LightInTheBox is a cross-border e-commerce platform that delivers products directly to consumers around the world. The Company offers customers a convenient way to shop for a wide selection of products at attractive prices through its www.lightinthebox.com, www.miniinthebox.com, www.ezbuy.sg and other websites and mobile applications, which are available in 25 major languages and cover more than 140 countries.
For more information, please visit www.lightinthebox.com.
Investor Relations Contact
Christensen
Ms. Xiaoyan Su
Tel: +86 (10) 5900 1548
Email: ir@lightinthebox.com
OR
Christensen
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE LightInTheBox Holding Co., Ltd. | https://www.whsv.com/prnewswire/2022/08/30/lightinthebox-report-second-quarter-2022-financial-results-tuesday-september-6-2022/ | 2022-08-30T10:47:06Z |
SAO PAULO, Aug. 30, 2022 /PRNewswire/ -- The event, the largest in Latin America, featured over 380 exhibitors and was expected to attract some 35,000 visitors.
One of the major attractions on the LONGi stand was its selection of modules for various application scenarios. 54-and 66-cell modules, offering greater flexibility, higher power and lower cost, are particularly focused on distributed, residential and commercial applications, with the Hi-MO 5 (72-cell) module, widely considered to be the optimal product in terms of size, compatibility with the industrial chain, product value and lifecycle reliability, addressing both utility-scale power plants and the DG market.
Another highlight showcased in Sao Paulo was the company's solution for solar-powered hydrogen generation, involving the integration of a green hydrogen production process using solar energy as the primary energy source, as well as hydrogen-related technology and equipment.
Intersolar South America annually presents the opportunity to connect diverse parts of the industrial chain and bring customers and partners in the region closer together. LONGi is fully committed to ushering in the terawatt era with its local partners and to contributing to the energy transition and carbon neutrality goals of all South American countries.
About LONGi
Founded in 2000, LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com/en
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SOURCE LONGi | https://www.whsv.com/prnewswire/2022/08/30/longi-takes-part-intersolar-south-america-2022-collaborating-with-industry-ushering-terawatt-era/ | 2022-08-30T10:47:13Z |
After taking the temperature of process manufacturers, ABI Research finds that manufacturers of fast-moving consumer goods are approaching boiling point
LONDON, Aug. 30, 2022 /PRNewswire/ -- Global technology intelligence firm ABI Research evaluated the impact politics, regulation, the economy, supply chain, ESG, and technology are having on manufacturers of fast-moving consumer goods (FMCG), pharmaceuticals, producers of steel, chemicals, pulp and paper, as well as the mining and oil & gas sectors.
"Our assessment found that the FMCG sector is under pressure from all sides," says Michael Larner, Industrial & Manufacturing Research Director at ABI Research. Securing raw materials is challenging considering lockdowns in China and limited grain supplies from Ukraine. Supply shocks are raising input costs, and operating costs are rising with higher energy costs coupled with the pressure to pay higher wages and work sustainably.
"We all hoped that with the rollout of COVID vaccines, the world would return to 'normal'," Larner continues. "However, events have taken a different turn, with the effects felt far and wide. Political decisions and regulations have the most impact on these firms' operations. After all, governments can lockdown cities and restrict transportation. At the same time, production can stop due to product recalls, as currently witnessed with Abbot Laboratories' baby formula facility in the United States."
Each industry is at very different stages concerning its digital maturity. Large mining firms, such as Rio Tinto, are automating many processes, and oil & gas firms, including Saudi Aramco, are utilizing data analytics to monitor operations and their immediate surroundings. Steel, pharma, and pulp and paper producers have more work to do to connect their operations digitally and utilize some of the cutting-edge technologies. Meanwhile, FMCG firms (Procter & Gamble is one such example) are working toward aligning IT and OT teams.
Manufacturers can no longer postpone investments in digital technologies. "Technology is part of the solution to alleviate the pressures. For example, data analytics can help firms understand the potential impacts of supply chain issues and optimize production to retain price points. Also, software can help firms engage in the circular economy and incorporate recycled materials in their products, as seen in the paper and steel industries. Digital technologies are part of the solution," Larner concludes.
These findings are from ABI Research's Digital Transformation in Process Manufacturing and Extractive Industries report. This report is part of the company's Industrial and Manufacturing research service, which includes research, data, and ABI Insights.
ABI Research provides actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today. ABI Research's global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors.
ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。
For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com
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SOURCE ABI Research | https://www.whsv.com/prnewswire/2022/08/30/manufacturers-can-no-longer-postpone-investments-digital-technologies-alleviate-current-pressures/ | 2022-08-30T10:47:20Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Missfresh Limited (NASDAQ: MF) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons who purchased or otherwise acquired Missfresh securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Missfresh's June 2021 initial public offering.
Lead Plaintiff Deadline: September 12, 2022
No obligation or cost to you.
Learn more about your recoverable losses in MF:
https://www.kleinstocklaw.com/pslra-1/missfresh-loss-submission-form?id=31223&from=4
Missfresh Limited NEWS - MF NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Missfresh Limited made materially false and/or misleading statements and/or failed to disclose that: (1) Missfresh provided false financial figures in its registration statement and related prospectus issued in connection with the Company's June 2021 initial public offering; (2) Missfresh would need to amend its financial figures; (3) Missfresh, among other things, had lesser net revenues for the quarter ended March 31, 2021; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times and negligently prepared.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Missfresh you have until September 12, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Missfresh securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the MF lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/missfresh-loss-submission-form?id=31223&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/mf-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-12-2022-class-action-filed-behalf-missfresh-limited-shareholders/ | 2022-08-30T10:47:26Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of MINISO Group Holding Limited (NYSE: MNSO) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded MINISO securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with MINISO's October 2020 initial public offering.
Lead Plaintiff Deadline: October 17, 2022
No obligation or cost to you.
Learn more about your recoverable losses in MNSO:
https://www.kleinstocklaw.com/pslra-1/miniso-group-holding-limited-lawsuit-submission-form?id=31233&from=4
MINISO Group Holding Limited NEWS - MNSO NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that MINISO Group Holding Limited made materially false and/or misleading statements and/or failed to disclose that: (1) defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated; (2) as a result, MINISO concealed its true costs; (3) the Company did not represent its true business model; (4) defendants, including the Company and its chairman, engaged in planned unusual and unclear transactions; (5) as a result of at least one of these transactions, the Company is at risk of breaching contracts with People's Republic of China authorities; (6) the Company would imminently and drastically drop its franchise fees; and (7) as a result, defendant's statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in MINISO you have until October 17, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased MINISO securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the MNSO lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/miniso-group-holding-limited-lawsuit-submission-form?id=31233&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/mnso-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-17-2022-class-action-filed-behalf-miniso-group-holding-limited-shareholders/ | 2022-08-30T10:47:33Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Molecular Partners AG (NASDAQ: MOLN) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of a class consisting of persons and entities that purchased or otherwise acquired: (a) Molecular Partners American Depositary Shares pursuant and/or traceable to certain documents issued in connection with the Company's initial public offering conducted on or about June 16, 2021; and/or (b) Molecular Partners securities between June 16, 2021, and April 26, 2022.
Lead Plaintiff Deadline: September 12, 2022
No obligation or cost to you.
Learn more about your recoverable losses in MOLN:
https://www.kleinstocklaw.com/pslra-1/class-action-molecular-partners-ag-loss-submission-form?id=31222&from=4
Molecular Partners AG NEWS - MOLN NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Molecular Partners AG made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's product, ensovibep, was less effective at treating COVID-19 than defendants had led investors to believe; that (ii) accordingly, the the U.S. Food and Drug Administration ("FDA") was reasonably likely to require an additional Phase 3 study of ensovibep before granting the drug Emergency Use Authorization ("EUA"); (iii) waning global rates of COVID-19 significantly reduced the Company's chances of securing EUA for ensovibep; (iv) another of the Company's product candidates, MP0310, was less attractive to Molecular Partners' collaborator, Amgen, than defendants had led investors to believe; (v) accordingly, there was a significant likelihood that Amgen would return to global rights of MP0310 to Molecular Partners; (vi) as a result of all the foregoing, the clinical and commercial prospects of ensovibep and MP0310 were overstated; and (vii) as a result, documents issues in connection with the Company's initial public offer and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Molecular Partners you have until September 12, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Molecular Partners securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the MOLN lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/class-action-molecular-partners-ag-loss-submission-form?id=31222&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/moln-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-12-2022-class-action-filed-behalf-molecular-partners-ag-shareholders/ | 2022-08-30T10:47:40Z |
BAODING, China, Aug. 30, 2022 /PRNewswire/ -- On August 26, GWM showed up with its six brands at the Chengdu Motor Show 2022, becoming one of the most popular brands.
GWM displayed various eye-catching new energy models to all media outlets and visitors in several exhibition halls. During the show, a variety of hybrid electric vehicles have been brought by HAVAL, TANK and WEY, helping strengthen the hybrid product matrix of GWM.
The other two pure electric brands which are ORA and SAR also won massive attention and became the spotlight with their innovative interactive forms and differentiated styles.
"As a pioneer in driving conventional car companies' transformation toward electrification and intelligentization, GWM has been insisting on speeding up the implementation of the new energy strategy," commented NetEase, China's leading news media.
HAVAL is positioned as a "New Energy SUV Expert", and all its models displayed in Hall 1 are new energy vehicles, such as H6-HEV, H6-PHEV and H-DOG. Specifically, the new electric hybrid SUV HAVAL H-DOG made its global debut, adopting 1.5T+DHT-PHEV Powertrain, with a total torque of 530N•m and total power of 240kW. It propels users to broaden life boundaries with a cozier driving space.
Now, HAVAL has already marched toward the new energy field, and several hybrid SUVs of the brand can cater to diverse user demands for green travel in the global market.
TANK also exhibited two new energy models at the booth in Hall 8, namely TANK300 HEV and TANK500 PHEV. These two models can integrate reliable and stable off-road capability with powerful new energy power, allowing customers to get an off-road experience while enjoying the green and convenient travel at the same time.
Then, WEY brought about Coffee 01, Latte DHT-PHEV (for the Chinese market) and other high-end intelligent new energy models at the show, thus leading to the new trend of intelligent driving. Particularly, Coffee 01, the first model for WEY's entry into Europe, has drawn the attention of industry professionals and local users as soon as it was unveiled in the European market.
Currently, in the field of new energy, GWM has established a development strategy that focuses on multiple technology routes, such as hybrid electric and pure electric, to accelerate the layout in the new energy field.
In terms of R&D, the company has scaled up investment and said that by 2025, GWM will invest a total of CNY 100 billion for new energy and intelligence-based technologies to create a greener, smarter and safer products for users.
At the 2025 Strategy Global Launch Conference, the company announced that GWM's new energy vehicles will account for 80% by 2025.
Mu Feng, President of GWM, said at the HAVAL brand new energy strategy conference, "GWM's new energy strategy is in full swing."
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SOURCE GWM | https://www.whsv.com/prnewswire/2022/08/30/new-energy-strategy-full-swing-gwm-unveils-multiple-new-energy-models-chengdu-motor-show-2022/ | 2022-08-30T10:47:46Z |
BEIJING, Aug. 30, 2022 /PRNewswire/ -- NewLink (namely Shandong Nenglian Holdings Co., Ltd. and Zhejiang Anji Zhidian Holding Co., Ltd., a subsidiary of NaaS Technology Inc.) and Chevron Brands International LLC, a subsidiary of Chevron Corporation, have signed a memorandum of understanding ("MoU") on August 28, 2022, to explore potential brand licensing opportunities for Caltex-NewLink branded service stations and alternative fuels infrastructures in China.
According to the MoU, the parties will explore opportunities to combine the strengths of Chevron's Caltex® marketing brand and Techron® fuel additive, with NewLink's well-established construction and operation capabilities for new energy infrastructure, to promote the construction and operation of Caltex-NewLink stations and alternative fuels infrastructures in Chinese mainland (except for Guangdong and Tianjin). It may include potential brand licensing opportunities in the Caltex fuels retailing business, and the sale of Techron fuel additives and a range of finished lubricants products.
With China's transition towards peak carbon emissions and carbon neutrality as well as the digital transformation of energy services, the two parties will explore potential opportunities to promote the construction and operation of alternative fuels infrastructures, which may include the supply of fuel, natural gas, electric vehicle charging and battery swap services.
Stanley Song, President of Greater China, Chevron International Fuel & Lubricants, said, "Chevron is an integrated energy company with a history of more than 100 years. We have many industry-leading technologies, diversified energy products and global operation experience. NewLink is a leader in digital energy service in China, with multiple competitive advantages in technology, network and services. We believe that exploring opportunities to combine the complementary strengths of both parties will enable us to provide Chinese customers with superior fuel and energy supply experience."
Dai Zhen, Founder and CEO of NewLink, said, "China's energy transition is a complex and systematic project, which needs to be carried out by learning from global experience. Chevron is a global energy giant with strong product, technology, and service capabilities. The collaboration between NewLink and Chevron will combine the experience from the global energy industry with the innovative practices of digitalized energy services in China, which we believe will enhance NewLink's capability of serving the entire value chain of transportation. We hope to start the cooperation with Chevron as soon as possible, so we can support the development of integrated energy services and high-quality growth of the transportation energy industry."
Service stations in China are transforming to expand their retail offerings, with the addition of commercial facilities such as convenience stores, catering, and automotive aftermarket services. NewLink will focus on upgrading its energy retail stations, strengthening its brand image, augmenting alternative fuels offering, improving its digital operation, and diversifying business models, to build the foundation for the future.
Leveraging Chevron's industry-leading products and technologies in fuels, finished lubricants and fuel additives, as well as NewLink's online and offline channels such as gas stations, live video streaming, and Tuanyou APP, the two parties hope their collaboration will offer an improved driving experience to car owners.
Chevron is one of the leading integrated energy companies in the world and the second largest energy company in the United States. In China, Chevron's operations cover oil and gas exploration and production, energy trading, sales of fuel oil, lubricants, and chemical products. In addition, Chevron has joint-venture and wholly owned lubricants production plants in Shanghai and Tianjin, producing high-quality lubricants products such as Havoline and Delo which are trusted and welcomed by customers in China. Chevron's marketing brand "Caltex", founded in 1936, was one of the first international brands to enter the China market. The Caltex brand enjoys a good reputation. Chevron, directly or through Chevron's JVs, has more than 4,200 service stations in the Asia Pacific region.
NewLink is a leading digital energy service enterprise in China. It operates multiple business lines and brands such as Tuanyou, NaaS Technology, Nengcheng Technology (NewLink Logistics), and NewLink Retail, which covers about 1,800 cities and towns across the country and provides various energy supplies of different types including oil, electricity, hydrogen and gas. NewLinks is a comprehensive energy hub brand under the NewLink Retail, committed to helping service stations transform and upgrade into integrated energy services stations through various means such as branding, digitization, refined operation and supply chain optimization.
ABOUT NEWLINK
NewLink is a leading digital energy service enterprise in China, committed to promoting the digitalization, branding, and low-carbon development of the energy industry and realizing zero-carbon energy. NewLink has built a digital energy ecosystem of refineries, gas stations, charging stations, OEMs, and car owners. Through products and services like AI and SaaS, it helps the energy industry reduce costs and increase efficiency, and offers digital solutions of energy supply to tens of thousands of enterprises. For more information about Newlink,please visit www.newlink.com.
ABOUT CHEVRON
Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron's operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as "anticipates," "expects," "intends," "plans," "targets," "advances," "commits," "drives," "aims," "forecasts," "projects," "believes," "approaches," "seeks," "schedules," "estimates," "positions," "pursues," "may," "can," "could," "should," "will," "budgets," "outlook," "trends," "guidance," "focus," "on track," "goals," "objectives," "strategies," "opportunities," "poised," "potential," "ambitions," "aspires" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company's products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company's global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company's suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company's joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company's operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company's control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company's ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading "Risk Factors" on pages 20 through 25 of the company's 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
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SOURCE NAAS | https://www.whsv.com/prnewswire/2022/08/30/newlink-chevron-explore-brand-licensing-opportunities-development-caltex-newlink-service-stations-alternative-fuels-infrastructures-china/ | 2022-08-30T10:47:53Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Outset Medical, Inc. (NASDAQ: OM) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons or entities who purchased Outset Medical common stock between September 15, 2020, and June 13, 2022.
Lead Plaintiff Deadline: September 6, 2022
No obligation or cost to you.
Learn more about your recoverable losses in OM:
https://www.kleinstocklaw.com/pslra-1/loss-submission-form-outset-medical-class-action?id=31221&from=4
Outset Medical, Inc. NEWS - OM NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Outset Medical, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's flagship product, Tablo Hemodialysis System ("Tablo"), would require an additional 510(k) application to be filed with The United States Food and Drug Administration ("FDA"), as defendants had "continuously made improvements and updates to Tablo over time since its original clearance"; (2) as a result, the Company could not conduct a human factors study on a cleared device in accordance with FDA protocols; (3) the Company's inability to conduct the human factors study subjected the Company to the likelihood of the FDA imposing a "shipment hold" and marketing suspension, leaving the Company unable to sell Tablo for home use; and (4) as a result, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Outset Medical you have until September 6, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Outset Medical securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the OM lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/loss-submission-form-outset-medical-class-action?id=31221&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/om-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-6-2022-class-action-filed-behalf-outset-medical-inc-shareholders/ | 2022-08-30T10:48:00Z |
PARIS and REDWOOD CITY, Calif., Aug. 30, 2022 /PRNewswire/ -- Orange and Equinix announced today a collaboration to expand the Orange Telco Cloud footprint, using Equinix's Bare Metal as a Service capability—Equinix Metal®—to speed the deployment of Orange's New Generation International Network. The new model enables Orange to provide business and wholesale customers with powerful on-demand Telco Cloud Points of Presence (PoPs), delivering essential services such as SD-WAN, CDN, 5G roaming and voice services, with an expected latency below ~10 milliseconds. Three locations will be deployed by the end of this year: Amsterdam, Madrid and Seattle.
The advancement of network-based services, largely driven by evolving customer requirements around speed of deployment and flexibility, is compelling network providers to deploy a new class of connectivity and infrastructure platform. Indeed, the Equinix 2022 Global Tech Trends Survey found 72% of companies surveyed around the world are planning to expand in the next 12 months, despite economic concerns and supply chain challenges—and they're relying on digital strategies to achieve that.
By integrating with Equinix's automated dedicated Bare Metal as a Service located in proximity to its existing networks at Equinix, Orange can quickly meet customer demand for growth, deploying in weeks from inception (instead of months).
Courtney Munroe, Vice President for Telecommunications Research at IDC, commented: "This partnership between Orange and Equinix is a smart move enabling Orange to enhance its existing platform and its ability to facilitate reliable, agile digital capabilities for its customers—all while being able to more quickly meet customer demand by using Equinix Metal. IDC research shows that enterprises look to Telcos and digital infrastructure providers as key partners for hybrid IT infrastructure and cloud networking requirements. Furthermore, the enhanced Telco Cloud Platform will improve Orange's operational efficiency, and flexibility, and most importantly will allow it to offer enhanced low latency performance and on-demand requirements for enterprises around the world."
Leveraging Equinix Metal, Orange accelerates its next-generation services without the up-front CAPEX or complexities of global supply chains, while retaining full choice and control over IT infrastructure and digital transformation projects.
"We are delighted to partner with Equinix to deploy Orange Telco Cloud PoPs technology on top of Equinix Metal," explained Jean-Luc Vuillemin, Executive Vice President, International Networks at Orange. "By embracing an 'as a service' infrastructure model and focusing investment in our SDN and VNF capabilities, Orange can provide a fully flexible and elastic solution to customers, speed up the deployment of our planned 100 Telco Cloud PoPs, and quickly adapt capacity to meet demand. This confirms Orange's position as a trusted infrastructure partner, optimizing application performance with secured and consistent connectivity, regardless of end user location, and supporting cloud management and transformation."
Through its Telco Cloud Platform, Orange uniquely provides customers with end-to-end optimized levels of performance, security and flexibility. Powered by industry-leading innovation in virtualized network functions and software-defined networks (SDN), Orange already has 40 SDN PoPs around the world and is targeted to reach 100+ "Telco Cloud PoPs" by 2024 as part of its eNGINe (New Generation International Network) transformation program. Each Telco Cloud PoP can host virtualized network service functions such as voice, 5G, CDN, SD-WAN or Security Services, as well as connect customers to key content and cloud service providers. With its Telco Cloud PoP architecture, Orange's customers can access and manage applications in the cloud with reliable, fast connectivity, and choose from an expanded portfolio with on-demand and adapted services.
"We have a rich 20-year history of collaboration with Orange and are pleased to see them accelerate innovation for their customers by becoming the first provider to combine their extensive global network footprint at Equinix with the new possibilities provided by our investments in automated digital infrastructure capabilities. We're excited to see them expand this offering into additional markets in 2023," said Zachary Smith, Global Head of Edge Infrastructure Services at Equinix.
Since its founding in 1998, Equinix has helped the world's networks connect and deploy services for their customers. Today, digital leaders like Orange are looking to move even faster. This has fueled Equinix's strategy to help unlock value from their existing network presence in its data centers, with an as a Service model that delivers choice and control of dedicated infrastructure, powered by clean and renewable energy. This approach to cleaner energy consumption was also determinant for Orange to choose to partner with Equinix, in line with its 2040 carbon neutral objective, on top of its strategy to avoid energy consumption where there is no customer demand.
About Orange
Orange is one of the world's leading telecommunications operators with sales of 42.5 billion euros in 2021 and 137,000 employees worldwide at 30 June 2022, including 76,000 employees in France. The Group has a total customer base of 282 million customers worldwide at 30 June 2022, including 236 million mobile customers and 24 million fixed broadband customers. The Group is present in 26 countries. Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business Services. In December 2019, the Group presented its "Engage 2025" strategic plan, which, guided by social and environmental accountability, aims to reinvent its operator model. While accelerating in growth areas and placing data and AI at the heart of its innovation model, the Group will be an attractive and responsible employer, adapted to emerging professions.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN). For more information on the internet and on your mobile: www.orange.com, www.orange-business.com and the Orange News app or to follow us on Twitter: @orangegrouppr.
Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.
About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company™, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners, and possibilities they need to accelerate advantage. With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences, and multiply their value.
Equinix Metal® provides developer-friendly physical compute, storage and networking infrastructure services to help digital leaders move faster and more easily access Equinix's unique ecosystem of thousands of enterprises, clouds, services and networks.
Equinix Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the COVID-19 pandemic; the current inflationary environment; foreign currency exchange rate fluctuations; increased costs to procure power and the general volatility in the global energy market; the challenges of acquiring, operating and constructing IBX and xScale data centers and developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
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SOURCE Equinix, Inc. | https://www.whsv.com/prnewswire/2022/08/30/orange-equinix-bring-cloud-agility-telco-infrastructure-through-groundbreaking-service-capability/ | 2022-08-30T10:48:06Z |
LAGOS, Nigeria, Aug. 30, 2022 /PRNewswire/ -- PalmPay, a fintech innovator aiming to make digital payment more accessible and flexible, announced that it has reached 10 million users in Nigeria. This represents a doubling in its user base within just six months and puts its customer numbers in the same league as major institutions only 3 years after the company launched in the market.
The fintech, which operates under a Mobile Money Operator license from the Central Bank of Nigeria, has gained significant traction with its payment's app and nationwide agency banking network. Its proposition of instant financial account creation, fee-free bank transfers and cashback rewards on airtime and bill payments has appealed to Millennial and Gen-Z consumers, who are looking for more affordable banking options and prefer the convenience of a digital-first service.
Nowadays PalmPay is processing millions of transactions a day. And around 20% of the company's customer base report that the PalmPay app was their first financial account, demonstrating that the Mobile Money Operator is contributing to driving progress towards financial inclusion targets in Nigeria, where 36% of the population remains unbanked.
Nigerians without smartphones can visit one of PalmPay's 200,000 mobile money agents across the country, who can transact on their behalf or issue an innovative QR card that can be used to hold a balance. Consumers can also use PalmPay agents to deposit cash to their PalmPay accounts and to withdraw money using their debit cards through PalmPay-branded POS machines.
"We are delighted to be able to celebrate this growth milestone and are proud of PalmPay's track record of making cutting-edge financial services accessible to every Nigerian - including the unbanked.", said Mr Chika Nwosu, Managing Director, PalmPay Nigeria, "The pandemic has accelerated the shift from cash to digital payments and we are looking forward to continuing to work together with regulators and our partners to innovate to meet the financial needs of consumers."
"Our significant growth in Nigeria demonstrates PalmPay's ability to innovate to meet the financial needs of consumers, and we are looking forward to replicating this success as we scale in more markets across Africa." said Sofia Zab, PalmPay Global CMO.
About PalmPay,
PalmPay is a fintech innovator that aims to make digital payment more accessible and flexible for consumers and merchants. We improve users' digital payment experiences by offering instant financial account creation, money transfers, and bill payments.
Since launching in 2019, PalmPay has quickly established itself as one of the continent's leading and fastest-growing payment providers with 10 million users and a mobile money agent network of 200,000.
PalmPay raised a US$100 million Series A round of funding in August 2021, with US$140 million raised in total. The company is now operating in Nigeria and Tanzania, and will be scaling its proposition in other African markets in 2022.
Learn more about PalmPay at https://www.palmpay.com/
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First-of-its-kind health and wellness plan for all species of pets makes comprehensive pet care more convenient, accessible and affordable
SAN DIEGO, Aug. 30, 2022 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced the expansion of Vital Care, its paid health and wellness membership program, to now include birds, reptiles, fish and small pets. Previously only available for dogs and cats, Vital Care unlocks the best of Petco through exclusive savings and rewards on nutrition, supplies, services, veterinary care and more with benefits tailored to each species' individual needs.
"Extending the quality care and benefits our Vital Care program offers to cover all types of family pets is yet another move that's good for pets and good for our business," said Jenny Wolski, Petco Senior Vice President, Omnichannel Customer Experience. "Vital Care has grown significantly – in both popularity and benefits – since we launched it two years ago. Pet parents continue to seek ways to better care for the health of their pets and their budgets, and Vital Care helps them do both."
In the U.S., there are more than 13 million fish, 9 million bird, 6 million small animal and 5 million reptile households* that have embraced these pets, and Petco is the first national pet specialty retailer to offer this type of comprehensive wellness plan at scale.
"Expanding Vital Care to birds, reptiles, fish and small animals makes it more affordable for their pet parents to bring home the right products that support the overall health and wellness of their beloved companion animals, which – based on the results in our pilot locations – we expect will bring in more customers more often, and enhance sales for our companion animal business," said Jonathan Williamson, Petco Vice President, Animal Care Education & Merchandising.
Pet parents can enroll their bird, reptile, fish or small animal into Vital Care for $9.99 per month per pet type. Existing Vital Care members with dogs and cats can also add a bird, reptile, fish or small animal to their plan for an additional $7.99 per month per pet type. Benefits of a Vital Care membership with an annual commitment include:
- Pals Rewards every month ($5 for small pet plans; $15 for dog or cat plans)
- Discount on nutrition** (10% off dog or cat nutrition; 20% off small pet nutrition, including dry, live, fresh or frozen)
- Unlimited routine vet exams at Vetco Total Care locations or unlimited $20 Pals Rewards for every routine exam at members' veterinarian of choice for dogs and cats
- 20% off small pet, bird, reptile & fish supplies**
- 20% off grooming** for dogs or 20% off litter for cats
- 20% off purchases of additional fish, small pets, birds and reptiles**
- $2 membership discount per pet type, per month
"Companion animals deserve the same love and care as dogs and cats, so I couldn't be more thrilled that Petco will help make a profound, positive impact on these pets and the parents who love them by extending Vital Care offerings to all types of family pets," said Dr. La'Toya Latney, a board-certified zoo and exotic animal veterinarian and a member of Petco's Pet Wellness Council. "My passion is providing innovative solutions to beloved companion animals that typically have less representation in the market. This expanded membership plan is a great solution for pet parents looking for ways to save money and meet their pets' health and wellness needs as they would their own."
For both a healthier pet and healthier budget, Vital Care pays for itself and offers an array of benefits to support the whole health of all species of pets. Leveraging its "Petconomics" campaign to highlight Vital Care's "Great Dane-sized" benefits at a "Chihuahua-sized" price, Petco continues to educate pet parents on convenient, affordable ways to invest in long-term routine care for their pets to help keep them happy and healthy.
Pet parents can sign up for Vital Care in Petco pet care centers, online and via the Petco app. For more information on Petco's expanded membership offerings, visit petco.com/vitalcare.
*Source: American Pet Products Association, Inc., 2021-2022.
**Exclusions may apply. For more details on Vital Care, visit petco.com/vitalcare.
Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. We've consistently set new standards in pet care while delivering comprehensive pet wellness products, services and solutions, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico, which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics. Our complete pet health and wellness ecosystem is accessible through our pet care centers and digitally at petco.com and on the Petco app. In tandem with Petco Love (formerly the Petco Foundation), an independent nonprofit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we've helped find homes for more than 6.5 million animals.
Yvonne Tarrab
yvonne.tarrab@petco.com
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SOURCE Petco Health and Wellness Company, Inc. | https://www.whsv.com/prnewswire/2022/08/30/petco-expands-revolutionary-vital-care-membership-include-birds-reptiles-fish-small-pets/ | 2022-08-30T10:48:19Z |
ZUG, Switzerland and TOKYO, Aug. 30, 2022 /PRNewswire/ -- Platinum Egg, the popular Japanese game company, has announced the upcoming integration of its Web 3.0 game, CrossLink, with the Concordium Blockchain.
With this partnership, Platinum Egg is making it easier for people with low cryptocurrency literacy to feel safe when joining the crypto space.
"Another aspect of cryptocurrencies that has been preventing its widespread integration in Japan has been the perception of lack of security. A history of strict banking laws and regulations has created a culture of doubt towards new financial instruments, causing more hesitation for less crypto literate people to jump into the space.
We believe that the emphasis on identity security built into Concordium, combined with the soft entry provided by Crosslink, will prove to be an effective catalyst in encouraging new non-crypto literate users to join the space." says Nariya Takemura, President of Platinum Egg.
Crosslink, which already has over 250K users, aims to serve as a vehicle to introduce newcomers to the crypto space. Unlike other blockchain-based games, Crosslink does not have an initial spend to play and earn rewards.
CrossLink is a game that connects the real world and the virtual - a completely new gaming experience combining GPS and games. Players can dispatch heroes anywhere on earth and challenge extraterrestrial life, win battles with raid bosses, and earn rewards!
"At Concordium, we are very excited to partner with Platinum Egg. An already well established and successful game, Crosslink will benefit from Concordium's ID layer and security and allow new users access to blockchain based solutions. Concordium already has a growing following in Japan, but it is a market where we very much appreciate having strong and established partners with deep understanding of Japan and the ecosystem there. The collaboration with Platinum Egg also underlines our increasing presence in and strong support of blockchain-based gaming" says Lars Seier Christensen, Chairman of Concordium Foundation
CONTACT:
Concordium
Maria Amalia Rojas
Director of Marketing
mar@concordium.com
Platinum Egg
Nick Yoshida
n.yoshida@platinum-egg.com
Matt Kelly
matthew@platinum-egg.com
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SOURCE Concordium | https://www.whsv.com/prnewswire/2022/08/30/platinum-egg-brings-popular-japanese-web-30-game-concordium/ | 2022-08-30T10:48:27Z |
TAMPA, FL , Aug. 30, 2022 /PRNewswire/ - Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (the "Company" or "Primo"), a leading provider of sustainable drinking water solutions in North America and Europe, today announced the planned retirement of Jay Wells, Chief Financial Officer, effective April 1, 2023. Mr. Wells will remain in his position until his retirement date. The Company has initiated a comprehensive search for a successor, which will include both internal and external candidates.
Jerry Fowden, Primo's Chairman of the Board, commented, "On behalf of the Board of Directors, I would like to thank Jay for his dedication and contributions over the past decade in helping to transform Primo from a private-label soft drink company to a pure-play water company focused on healthy hydration solutions. We appreciate his leadership and partnership in executing our strategic vision and wish him all the best in retirement."
"On behalf of the entire management team, I thank Jay for his dedication and valuable contributions during his career at Primo," said Tom Harrington, Primo's Chief Executive Officer. "Primo has a strong finance team, and Jay has played a significant role in helping drive financial and operational improvements to help us realize our purpose of inspiring healthier lives with water your way. I am deeply appreciative that Jay will remain with Primo to help facilitate a smooth leadership transition and wish him all the best in his retirement."
Mr. Wells commented, "It has been a privilege to work with Primo's devoted and talented team over the past 10 years. Having completed Primo's transformation to a pure-play water company, now is the right time for me to retire. I am committed to ensuring a smooth transition and look forward to following the continued success of Primo."
Since his arrival in March 2012, Mr. Wells has led the Company through many significant initiatives, enabling Primo's transition to a pure-play water company and strengthening the Company's finance, treasury and tax departments. Mr. Wells joined Primo from Molson Coors where he held various senior finance positions, including Chief Financial Officer of Molson Coors Canada, a subsidiary of Molson Coors Brewing Company, and Global Vice President, Treasury, Tax, and Strategic Finance of Molson Coors Brewing Company.
Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe and generates approximately $2.1 billion in annual revenue. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo's revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through retailers and online at various price points. The dispensers help increase household penetration which drives recurring purchases of Primo's razorblade offering. Primo's razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Through its Water Direct business, Primo delivers sustainable hydration solutions across its 21-country footprint direct to the customer's door, whether at home or to businesses. Through its Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at approximately 14,000 locations, water dispenser sales at approximately 9,000 locations and water refill units at approximately 24,000 locations, respectively. Primo also offers water filtration units across its 21-country footprint.
Primo's water solutions expand consumer access to purified, spring, and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America as well as with Watercoolers Europe (WE), which ensure strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.
Primo is headquartered in Tampa, Florida (USA). For more information, visit www.primowatercorp.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 conveying management's expectations as to the future based on plans, estimates and projections at the time Primo makes the statements. Forward-looking statements involve inherent risks and uncertainties and Primo cautions you that several important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include, but are not limited to, statements related to the transition plan, and related matters. The forward-looking statements are based on assumptions regarding management's current plans and estimates. Management believes these assumptions to be reasonable, but there is no assurance that they will prove to be accurate.
Factors that could cause actual results to differ materially from those described in this press release include, among others: Primo's ability to manage its operations successfully; or Primo's ability to recruit, retain and integrate new management. The foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Readers are urged to carefully review and consider the various disclosures, including but not limited to risk factors contained in Primo's Annual Report on Form 10-K and its quarterly reports on Form 10-Q, as well as other filings with the securities commissions. Primo does not undertake to update or revise any of these statements considering new information or future events, except as expressly required by applicable law.
Website: www.primowatercorp.com
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SOURCE Primo Water Corporation | https://www.whsv.com/prnewswire/2022/08/30/primo-water-corporation-announces-cfo-retirement-transition-plan/ | 2022-08-30T10:48:33Z |
Home sellers are once again making repairs and accepting contingencies as we move toward a more balanced housing market
SANTA CLARA, Calif., Aug. 30, 2022 /PRNewswire/ -- The days of frenzied sales with waived inspections might be behind us, as buyers regain a bit of bargaining power. According to a new Realtor.com® survey, 92% of people who sold their home within the last year accepted some buyer-friendly terms and 41% accepted some contingencies in the contract. Additionally, among those surveyed, the number of buyers asking for repairs based on the inspection results more than doubled in recent months and the number of sellers refusing to make repairs dropped to zero. Whether it be financing, timing, repairs or flexibility, the art of negotiation is returning to the housing market.
Realtor.com® surveyed 449 people who sold their home within the last 12 months. To highlight the shifting market, responses were collected based on how long ago the home sold.
"Our survey shows that the overheated housing market of the past two years, which predominantly favored sellers, is beginning to regain a sense of normalcy, which is welcome news for home buyers," said George Ratiu, manager of economic research, Realtor.com®. "The combination of higher mortgage rates and prices have noticeably cooled demand over the first half of the year. In addition, as more homeowners have been listing their properties, rising inventory is motivating more of them to resort to price cuts in order to successfully close transactions. At the same time, even as we are seeing a shift toward a more buyer-friendly market, it's worth noting that the majority of recent sellers are still satisfied with the outcome of their home sale."
Despite the extremely competitive housing market of the past several years, the survey suggests that negotiation is back on the table – for both price and contract terms. Homes that sold at- or above-asking price peaked at 82% in Feb. and March of 2022 when mortgage rates were below 4% and dropped to 69% for homes that sold within the last month when rates hovered near 6%. By contrast, the share of sellers who sold below-asking jumped from 18% in Feb. and March 2022 to 31% for those sold within the last month.
Additionally, 92% of all recent sellers accepted some buyer-friendly terms. Those included:
- 41% Accepted some contingencies in the contract (appraisal, home inspection, home sale, financing, etc.)
- 32% Dropped the price because the home didn't meet appraisal
- 32% Paid for some or all of the buyer's closing costs
- 30% Had to be flexible on the ideal timeline for closing
- 29% Paid for repairs to the home after the appraisal
- 28% Were not able to rent the home back after close despite asking to
A professional home inspection is always a good idea for homebuyers, but during the housing market's peak, many buyers waived this important step in order to be competitive with their offer. Of those who sold within the last month, 95% reported that the buyer requested a home inspection, up from 82% of those who sold 6-12 months ago. More than twice as many buyers of homes that sold in the last month asked for repairs as a result of the home inspection (67%) compared to homes that sold 6-12 months ago (31%). The number of surveyed sellers who refused to pay for any repairs during that time dropped from 8% to zero.
Nearly all respondents (95%) who sold their home in the last month made some updates or repairs to the property prior to listing, compared to 71% who sold 6-12 months ago. The average amount that recent sellers spent on repairs prior to listing was $14,163.
Despite the shifting market, homes are continuing to sell quickly. In fact, 22% of people who sold within the past month said that their home went under contract in less than a week. This is up from 14% of people who sold 6-12 months ago. Additionally, 92% of people who sold their home in the past month were satisfied with the overall outcome of their home sale, down slightly from the 98% who were satisfied 6-12 months ago. Nearly half (46%) of sellers in the last month were satisfied with the price of their home sale, compared to 72% of those who sold 6-12 months ago.
After two years of the pandemic, sellers' needs have changed, prompting a search for another home. Of those who sold within the last year:
- 31% were looking for different amenities/features
- 29% found that the home no longer met the needs of their families
- 26% needed a home office for remote work
- 23% wanted to live closer to family and friends
- 20% felt they bought their home in a hurry/panic and decided it was not the right home for them
- 17% no longer needed to live near an office
This survey was conducted online within the United States from Aug. 9-12 among 3,001 adults, of which 449 had sold their home in the last 12 months. The sampling margin of error of this poll is plus or minus 1.8 percentage points. The results reflect a nationally representative sample of U.S. adults. Results were weighted for age by gender, region, race/ethnicity, and income where necessary to align them with their actual proportions in the population.
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
Media Contact
nicole.murphy@move.com
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SOURCE Realtor.com | https://www.whsv.com/prnewswire/2022/08/30/realtorcom-survey-bargaining-power-is-back-92-recent-sellers-accepted-buyer-friendly-terms/ | 2022-08-30T10:48:40Z |
Swiss global temperature control solutions market leader goes live with Infor CloudSuite Industrial Enterprise
MUNICH, Aug. 30, 2022 /PRNewswire/ -- Infor®, the industry cloud company, today announced that Switzerland-based Regloplas AG has migrated to the cloud. The temperature control solutions market leader has gone live with Infor CloudSuite Industrial Enterprise as well as Infor CPQ in the multi-tenant cloud. Regloplas deployed a future-proof ERP (enterprise resource planning) infrastructure to enable scalable, digitized manufacturing processes. Implementation and customer support during the project were provided by Infor's leading partners in the DACH region for Infor CloudSuite Industrial Enterprise, AS infotrack AG and AZTEKA Consulting GmbH.
Learn more about Infor CloudSuite Industrial Enterprise: https://www.infor.com/products/cloudsuite-industrial-enterprise
Based in St. Gallen, Switzerland, Regloplas is a leading supplier of intelligent temperature control solutions with an extensive portfolio of temperature control and cooling equipment of all kinds, primarily deployed for manufacturing operations. With a market presence in 50 countries, Regloplas has earned its excellent reputation on the market not least due to its strong focus on research and development, making the organization a global technological leader in its field.
In the past few years in particular, Regloplas has achieved strong business growth. This led to a host of completely new requirements for production and the value chain, which then had to be adapted to the new market environment — not least because an expansion of the St. Gallen headquarters was pending. As a result, a new ERP infrastructure was needed that could meet the new challenges and provide Regloplas with easy-to-scale, digital manufacturing. And for this, Infor is exactly the right partner for Regloplas.
Infor CloudSuite Industrial Enterprise is specifically tailored to the needs of manufacturers and offers a complete solution package for ERP in the multi-tenant cloud. Infor CPQ configure price quote has become a critical business solution for Regioplas, with the capability to enable Regloplas to offer its customers highly customizable products. Since the go-live, more than 8 million configuration variants are now available for customers to select.
"We want to expand our pioneering role in Industry 4.0 even further and digitize our manufacturing in a highly scalable way," says Christian Eckert, CEO of Regloplas AG. "And in Infor, we have found the perfect partner, who, with their CloudSuite, can provide us with the ideal technological underpinning for this."
"Regloplas is an undefeated market leader in its field," says Frederic Russo, Infor's senior vice president of international sales & head of business operations. "Research and development play an important role for the company and, therefore, we are even more pleased to provide our solutions to a manufacturer that focuses so strongly on the sustainable digitization of its business."
About Regloplas AG
Regoplas is the leading provider of intelligent solutions for temperature control, with an extensive portfolio of temperature control units, temperature control solutions and cooling units. Its products and systems enable precise and efficient processes for equipment and processes in injection molding, die casting, extrusion, composites, food production, semiconductor and electronics manufacturing, test and inspection equipment, and other novel production processes. Its solutions enable technological progress in the automotive, aerospace, plastics, rubber, electronics, pharmaceutical, chemical, medical, food and packaging markets. Visit https://www.regloplas.com/en/
About Infor
Infor is a global leader in business cloud software specialized by industry. We develop complete solutions for our focus industries. Infor's mission-critical enterprise applications and services are designed to deliver sustainable operational advantages with security and faster time to value. Over 60,000 organizations in more than 175 countries rely on Infor's 17,000 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.
Press contact:
LEWIS Communications GmbH
Benjamin Gildein / Lena Seitz
Tel: +49 89 173019 -29 / -33
infor@teamlewis.com
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SOURCE Infor | https://www.whsv.com/prnewswire/2022/08/30/regloplas-lifts-its-pioneering-spirit-cloud/ | 2022-08-30T10:48:46Z |
LA CROSSE, Wis., Aug. 29, 2022 /PRNewswire/ -- Persistent refinement put Bryan Schmitt on track to sacking up a four-day total of 63 pounds, 4 ounces and claiming his second blue trophy at the Guaranteed Rate Bassmaster Elite at Mississippi River.
Hailing from Deale, Md., Schmitt took the Day 1 lead with 17-0 — the event's second heaviest bag — and followed that with bags of 14-3 and 14-12.
Schmitt, who won his first Elite on Lake Champlain in 2021, started Championship Monday in third place, trailing Canadian pro Chris Johnston by 2-1. Adding 16-11 in the final round, Schmitt edged Johnston by just 4 ounces and won the $100,000 prize. He also earned an automatic berth into the 2023 Academy Sports + Outdoors Bassmaster Classic scheduled for March 24-26 in Knoxville, Tenn.
"I'd rather have a blow-out win because this is too stressful," Schmitt said of the dramatic finish. "When Chris brought his bag up, it looked big — I thought he had it!
"I can't believe it. I'm 2-for-2 here. (Schmitt also won a 2017 FLW Tour event on the Mississippi River)."
Throughout the event, Schmitt focused his efforts on a 200-yard stretch of eelgrass in Pool 8. With multiple wins on grassy tidal fisheries from the Potomac River to the James River, he leveraged his vast knowledge of how bass relate to moving water and vegetation to progressively whittle down his spot.
"When you have a fishery with a lot of grass, it's always about finding something different," Schmitt said. "The first day, it was about depressions and edges. Then, it got so flat calm that I realized the fish would pick a place on that grass edge or depression and that was the only place you could get bit."
Seeing the bass were not randomly strolling through the eelgrass, Schmitt dissected his area until he identified the money spot. Amid the grass flat's consistent 6-foot depths, he identified an 8-foot trench measuring about 20 feet wide by 100 yards long.
"There was about a 50-foot section where, whenever I would get a bait on the bottom, I could feel rock," Schmitt said. "So, there was rock meeting grass in a depression."
The key to the spot's attraction was the very detail that derailed many anglers' game plans. Heavy rains from a storm that delayed the Day 2 launch by one hour muddied much of Pool 8. However, Schmitt's area was shielded from the mud plume, while the eelgrass filtration left only beneficial water flow.
"It's a challenge, but I enjoy fishing in current because I feel current makes fish predictable," Schmitt said. "When I won here in 2017, it flooded. It was just like this — my spot got better and better."
Schmitt caught most of his keepers on a Carolina-rigged Missile Baits Baby D Stroyer in green pumpkin flash. He added one of his limit fish on a bone-colored Spro Fat Papa Walker.
"I used a 3 1/2- to 4-foot leader and I think that's why they would bite that bait," Schmitt said. "There was so much eelgrass, the weight would get down and the bait would float above the grass for a minute and that's when you would get bit."
Schmitt said his win was perfectly timed, as he'll head home and celebrate his son Dylan's 9th birthday Thursday.
Johnston, who makes his home in Otonabee, Ontario, turned in limits of 16-4, 15-10, 16-12 and 14-6 for a second-place total of 63-0. Spending his tournament in Pool 8, he did most of his work by throwing a chartreuse/white Spro Bronzeye Frog around shallow eelgrass mats.
"I had to adjust in one area today; the fish moved on me a little bit," Johnston said. "I just went frog fishing and today I lost the most fish of any day in this event. It was one of those days and it wasn't meant to be.
"I fished clean the first three days, but today I just had (several) come unbuttoned."
Mats with current exposure proved most productive for Johnston. In addition to the largemouth he caught on the frog, Johnston also caught keeper smallmouth on a bone-colored Zara Spook.
Keith Combs of Huntington, Texas, finished third with 61-15. His daily weights were 14-5, 17-7, 15-1 and 15-2.
Combs fished Pools 8 and 9 each day, but only the former produced Monday. His main pattern involved sandbars and other current breaks where fish would position to feed.
"I had several different areas, but everything was current-related; it had to have a little current trickling through," Combs said. "Today, I caught my fish on a current seam and I caught a ton of fish. This morning, I caught them on every cast for 45 minutes. It was insanity.
"I never could dial into the big fish this week. I caught a ton of fish in the 3- to 3 1/2-pound range, but I never could figure out how to catch those 4-pounders."
Combs caught his bass on a black/blue Strike King swim jig with a black Strike King Caffeine Shad trailer. He also caught keepers on a Texas-rigged junebug Strike King Cut-R Worm.
Brock Mosley of Collinsville, Miss., won the overall $1,000 Phoenix Boats Big Bass honors with his 5-8 and also claimed the $1,000 daily big-fish prize for Day 1. Tennessee's Brandon Lester claimed Monday's daily big-fish prize with a 4-11.
Lester also won the $2,000 VMC Monster Bag prize for his final-day catch of 18-7.
Combs took home an additional $3,000 for being the highest-placing entrant in the Toyota Bonus Bucks program, and Drew Benton of Blakely, Ga., earned $2,000 for being the second-highest placing entrant.
As part of the Yamaha Power Pay program, Combs also earned an additional $2,500 as the highest-placing entrant and Scott Martin of Clewiston, Fla., claimed an additional $1,500 for being the second-highest placing entrant.
North Carolina's Brandon Card won the $1,000 BassTrakk Contingency award for the most accurate weight reporting.
The tournament was hosted by Explore La Crosse.
2022 Bassmaster Elite Series Platinum Sponsor: Toyota
2022 Bassmaster Elite Series Premier Sponsors: Bass Pro Shops, Berkley, Humminbird, Mercury, Minn Kota, Nitro Boats, Power-Pole, Progressive Insurance, Ranger Boats, Rapala, Skeeter Boats, Yamaha
2022 Bassmaster Elite Series Supporting Sponsors: AFTCO, Daiwa, Garmin, Huk Performance Fishing, Marathon, Strike King, Triton Boats, VMC
2022 Bassmaster Conservation Partners: AFTCO, Yamaha Rightwaters
Media Contact: Emily Harley, B.A.S.S. Communications Manager, 205-313-0945, eharley@bassmaster.com
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SOURCE B.A.S.S. | https://www.whsv.com/prnewswire/2022/08/30/schmitt-claims-close-win-bassmaster-elite-series-event-mississippi-river/ | 2022-08-30T10:48:53Z |
PARIS, Aug. 30, 2022 /PRNewswire/ -- Sequans Communications S.A. (NYSE: SQNS), a leading developer and provider of 5G/4G solutions for IoT devices, today announced the closing of a multi-year, strategic 5G licensing agreement with a new strategic partner.
Under the terms of the agreement, the first three years' revenue is expected to be in excess of $50 million. An initial payment in excess of 25% of the license will be received within 30 days of the closing, with additional milestone payments scheduled to be received regularly over the next three years. The partner has the rights to manufacture and sell the Taurus platform exclusively in the Chinese market for negotiated royalty payments on its future chipset sales.
"We are delighted to announce this new 5G strategic licensing agreement for our Taurus platform, which we expect to fund the balance of its development and expand our addressable market to China, a market currently not served by Sequans," stated Georges Karam, CEO of Sequans. "The agreement will generate licensing revenue over the first three years and royalty revenue for 20 years on the sale of partner's products based on our 5G technology. For the remainder of 2022, we expect this licensing revenue, when combined with our current expectations for the rest of our business, will enable us to target non-IFRS operating profitability for the second half of the year and non-IFRS operating break-even in 2023."
Mr. Karam concluded, "We believe our Taurus technology is uniquely positioned to be a leading 5G solution fully optimized for enhanced broadband and critical IoT applications. This, combined with the flexibility of our business model, makes us an attractive potential partner to many players interested in new 5G applications and markets."
The following statement is based on management's current assumptions and expectations and assumes no increase in the severity or duration of the COVID-19 pandemic, China's pandemic lockdowns and supply chain disruptions on the timing of product shipments and project advancement. This statement is forward-looking and actual results may differ materially.
Management is targeting sequential revenue growth of at least 10% in the third quarter of 2022, with gross margin in excess of 65%.
Sequans plans to conduct a teleconference and live webcast to discuss the 5G strategic partnership agreement today, August 30, 2022 at 8:00 a.m. ET /14:00 CET.
To participate in the live call, analysts and investors should dial 877-407-0792 or +1 201-689-8263 if outside the U.S. When prompted, provide the event title or access code 13732569. A live and archived webcast of the call will be available from the Investors section of the Sequans website at https://www.sequans.com/company/investor-relations/webcasts-and-presentations/.
An audio replay of the conference call will be available until September 13, 2022 by dialing toll free 844-512-2921 or +1 412-317-6671 from outside the U.S., using the access code 13732569.
This press release contains projections and other forward-looking statements regarding future events and our future financial performance and the potential for other 5G strategic agreements. All statements other than present and historical facts and conditions contained in this release, including any statements regarding future results of operations and financial positions, business strategy and plans, the potential financial impact of the new strategic agreement, the impact of the Covid-19 on our supply chain and on customer demand, the impact of component shortages and manufacturing capacity and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We undertake no obligation to update the information made in this release in the event facts or circumstances subsequently change after the date of this press release. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not rely on or place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. In addition to the risk factors contained in our Form 20-F for the fiscal year ended December 31, 2020, some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: (i) the contraction or lack of growth of markets in which we compete and in which our products are sold, (ii) unexpected increases in our expenses resulting from inflationary pressures, including manufacturing expenses, (iii) our inability to adjust spending quickly enough to offset any unexpected revenue shortfall, (iv) delays or cancellations in spending by our customers, (v) unexpected average selling price reductions, (vi) the significant fluctuation to which our quarterly revenue and operating results are subject due to cyclicality in the wireless communications industry and transitions to new process technologies, (vii) our inability to anticipate the future market demands and future needs of our customers, (viii) our inability to achieve new design wins or for design wins to result in shipments of our products at levels and in the timeframes we currently expect, (ix) our inability to enter into and execute on strategic alliances, (x) our ability to meet performance milestones under strategic license agreements, including this newly executed strategic agreement, (xi) the impact of natural disasters on our sourcing operations and supply chain, (xii) the impact of the Ukraine-Russia conflict on our independent contractors located in Ukraine, (xiii) the impact of Covid-19 on the ability to operate our business and research, production of our products or demand for our products by customers whose supply chain is impacted or whose operations have been impacted by government shelter-in-place or similar orders or Covid-19 workforce shortages, (xiv) our ability to raise debt and equity financing, and (xv) other factors detailed in documents we file from time to time with the Securities and Exchange Commission.
Sequans Communications S.A. (NYSE: SQNS) is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, South Korea, and China. Visit Sequans online at www.sequans.com, and follow us on Twitter and Linked In.
Media Relations: Kimberly Tassin, +1.425.736.0569, Kimberly@sequans.com
Investor Relations: Kim Rogers, Hayden IR, +1 385.831.7337, Kim@haydenir.com
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After the May 2022 acquisition of Splash News, one of the world's leading entertainment news networks, Shutterstock announces the rebrand of The Newsroom to Splash at Visa Pour L'Image
PERPIGNAN, France, Aug. 30, 2022 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform for transformative brands and media companies, today announced at the Visa Pour L'Image Festival in Perpignan, France that it has rebranded The Newsroom to Splash. Since its inception in May 2021, The Newsroom has been established as the preeminent destination for unparalleled access to premium exclusive Editorial content. The Newsroom's unrivaled offering was further bolstered by the acquisition of Splash in May 2022, an industry-leading source for image and video content across celebrity, red carpet and live events for over three decades.
With the rebrand to Splash, Shutterstock's global customers will still have access to the same breaking news, as well as an archive of over 30 million images, with a live feed of 40,000 images uploaded per day from a network of over 4,000 photographers. This is combined with The Vault, Shutterstock's archive of over 60 million photo and video assets from AP, ITV, The Condé Nast Collection, The A+E Networks® Archive and more, making it one of the largest archival collections in the world, as well as white-glove service from a team of market experts to package key trending stories, archival and UGC content to help our global clients tell the story behind the story.
"Over the last 30 years, Splash has built a strong legacy based on brand recognition and a commitment to quality within the entertainment industry, and we're thrilled to herald this legacy into a new era," said Candice Murray, Vice President of Editorial at Shutterstock. "This rebrand confirms Shutterstock's positioning as best in class for premium celebrity and entertainment content, and we're excited to build on Splash's brand affinity, elevating Splash's visual storytelling capabilities to our customers around the world."
If you're traveling to Visa Pour L'Image, join us to celebrate the addition of Splash News to the Shutterstock Editorial family in Perpignan, France on August 31 and September 1, 2022. To RSVP, visit perpignan.splashthat.com.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK), is a leading global creative platform for transformative brands and media companies. Directly and through its group subsidiaries, Shutterstock's comprehensive collection includes high-quality licensed photographs, vectors, illustrations, 3D models, videos and music. Working with its growing community of over 2 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 415 million images and more than 26 million video clips available.
Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The Company also owns Splash News, the world's leading entertainment news agency for newsrooms and media companies worldwide, Pond5, the world's largest video marketplace, TurboSquid, the world's largest 3D content marketplace; PicMonkey, a leading online graphic design and image editing platform; Offset, a high-end image collection; Shutterstock Studios, an end-to-end custom creative shop; PremiumBeat, a curated royalty-free music library; Shutterstock Editorial, a premier source of editorial images and videos for the world's media; Amper Music, an AI-driven music platform; and Bigstock, a value-oriented stock media offering.
For more information, please visit www.shutterstock.com and follow Shutterstock on Twitter and on Facebook.
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NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of TG Therapeutics, Inc. (NASDAQ: TGTX) alleging that the Company violated federal securities laws.
Class Period: January 15, 2020, to May 31, 2022
Lead Plaintiff Deadline: September 16, 2022
No obligation or cost to you.
Learn more about your recoverable losses in TGTX:
https://www.kleinstocklaw.com/pslra-1/tg-therapeutics-loss-submission-form?id=31224&from=4
CLASS ACTION CASE DETAILS: The filed complaint alleges that TG Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) clinical trials revealed significant concerns related to the benefit-risk ratio and overall survival data of the Company's therapeutic product candidates, Ublituximab and Umbralisib; (ii) accordingly, it was unlikely that the Company would be able to obtain approval from the U.S. Food and Drug Administration of the Umbralisib marginal zone lymphoma and follicular lymphoma New Drug Application, the Biologics License Application for Ublituximab in combination with Umbralisib, the supplemental New Drug Application for Ublituximab in combination with Umbralisib, or the Ublituximab relapsing forms of multiple sclerosis Biologics License Application in their current forms; (iii) as a result, the Company had significantly overstated Ublituximab and Umbralisib's clinical and/or commercial prospects; and (iv) therefore, the Company's public statements were materially false and misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in TG Therapeutics you have until September 16, 2022, to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased TG Therapeutics securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the TGTX lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/tg-therapeutics-loss-submission-form?id=31224&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/tgtx-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-16-2022-class-action-filed-behalf-tg-therapeutics-inc-shareholders/ | 2022-08-30T10:49:13Z |
BEIJING, Aug. 30, 2022 /PRNewswire/ -- The 16th annual China Brand Festival took place from August 7 to 9 in Changsha, a city wildly popular with Chinese influencers. Organized by TopBrand Union and the China Convention Exhibition and Event Society, the festival welcomed over 2200 government officials, entrepreneurs, experts and scholars at its opening ceremony, while the total number of guests exceeded 6000.
With a special announcement, TopBrand Union launched its inaugural edition of the TopBrand Global 500, publishing the rankings at www.topbrand500.com.
Apple leads the pack, with its brand valued at USD 799.81 billion, while Microsoft, Google, Amazon and Saudi Aramco rank from second to fifth, as they are valued at USD 667.43 billion, USD 405.53 billion, USD 402.54 billion and USD 377.34 billion, respectively.
In terms of national representation, 210 brands are from the US, taking up 42% of the total and accounting for a combined value of USD 13 trillion. The second most represented country is China, with 122 brands in the top 500, which are worth USD 5.65 trillion. Japan ranks third with 42 representatives holding a combined value of USD 1.52 trillion.
The only Chinese brand in the top 10 is China National Petroleum Corporation, ranking ninth with a valuation of USD 280.28 billion. The top 20 also includes Sinopec, State Grid and Huawei, ranking 11th, 14th and 18th, respectively. Meanwhile, Taiwanese semiconductor giant TSMC is ranked 23rd, while tech leaders Tencent and Alibaba take up 29th and 30th place. The brand behind the most expensive stock on the Chinese market, Guizhou Moutai, is 64th.
The highest valued Japanese brand is Toyota, which sits at 15th place as it is worth USD 204.52 billion. It is followed by Sony, which ranks 55th, while other strong brands, such as Honda, Hitachi, Panasonic, Mitsubishi, SoftBank and Nintendo also make it into the top 500.
French brands occupy 19 spots on the list as LVMH ranks 42nd with a valuation of USD 114.89 billion. Other prominent names such as Airbus and Michelin, also find their way into the rankings.
German brands perform well as 18 of them enter the top 500, including Merck, Siemens, Volkswagen, Mercedes-Benz, Allianz, BMW, Bayer and Adidas, among others.
There are also 16 established British brands which enter the elite 500, led by THG, AstraZeneca, Unilever, GlaxoSmithKline, Rio Tinto and HSBC.
The technology sector dominates the brand rankings as its representatives have a whooping total value of USD 61.13 trillion. Despite some occasional doubts, investors continue to bet on a more digital and smarter economy.
The pharmaceutical sector comes in second, with its ranked brands valued at a combined USD 18.18 trillion. It is spearheaded by the giants Pfizer, Roche, and Eli Lilly, but the positioning of most companies within the sector will likely be more closely linked to their R&D capacity in the post-pandemic era.
The oil and gas sector comes in a close third as its entries in the top 500 have a combined value of USD 17.14 trillion. It will be important to keep an eye on the potential impact of structural transformations and short-term price fluctuations in the industry.
The sample pool examined by the TopBrand Union research team includes 37164 companies, covering 47 major stock markets. The valuation methodology is vetted by an international and independent Global Expert Review Board, including over 20 thought leaders and executives. It takes into account five categories of indicators, namely: brand internationalization, brand awareness, brand management, brand reputation and core brand strength.
Prof. Wang Yong, Chairman of the Board at TopBrand Union and Secretary-General of the China Brand Festival, explains that the research and preparation for the compilation of the TopBrand Global 500 took up nearly one full year. He plans to lead his team toward making further progress in the field of brand valuation and to continue providing valuable insights into the branding industry.
Contact:Ivo Ganchev
E-mail:ivo@brandcn.com
Tel.:0086-18612615091
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This exciting new deck of hand-painted cards will be coveted by collectors everywhere.
LOS ANGELES, Aug. 30, 2022 /PRNewswire/ -- Brittney Palmer, contemporary artist, model, and UFC Octagon Girl, today announced her collaboration with The Topps Company, Inc., a next-gen physical and digital trading card company.
Palmer, known for her dynamic abstract paintings and vibrant portraits, will be creating 20 limited edition Topps trading cards in collaboration with Star Wars™. Each trading card will be hand-painted by Palmer and offered for a limited time. Two cards from the collection will be released each month, purchasable for only the following seven days. Currently, 12 of the cards have been released. Once the entire collection is released, the full deck will be available for purchase.
"I am thrilled to work alongside my dream brands, like Topps and Star Wars™, to bring to life this exclusive collection of trading cards," says Brittney Palmer, a mainstream influencer and artist. "It is such a rewarding feeling to apply my passion for art to such an admired franchise," Palmer adds.
Having collaborated on artistic projects in the past, Palmer reserves partnerships of this nature for companies she believes in. Zach Beehler, Topps Digital Marketing Manager, states, "The combined vision of Brittney and Topps will truly enhance the collector experience."
An accomplished artist, model, host, and UFC's Octagon Girl, Brittney Palmer is a modern-day Renaissance Woman. A veteran of the entertainment industry for over a decade, Brittney is driven by her passion for immersing herself in art, whether it's the art of painting, music, dancing, or MMA. For more information, visit brittneypalmer.com. To purchase the available trading cards, visit brittneypalmer.com/collections/baseball-cards.
Founded in 1938, The Topps Company, Inc. is part of Fanatics Collectibles, a next-gen physical and digital trading cards and collectibles company that was launched in 2021 and is a subsidiary of Fanatics Holdings, Inc. Through Fanatics Collectibles, Topps entertains and delights consumers with a diversified, engaging, multi-platform product portfolio that includes physical and digital collectibles, trading cards, trading card games, sticker and album collections, memorabilia and curated experiential events. Properties include Major League Baseball, Major League Soccer, UEFA Champions League, Bundesliga, National Hockey League, Formula 1, Star Wars, Garbage Pail Kids®, and more. Topps Digital Sports & Entertainment has connected with people around the world who have downloaded our apps including Topps® BUNT®, TOPPS® KICK®, Star Wars™: Card Trader by Topps®, Topps® NHL SKATE™, Marvel Collect! by Topps® and Disney Collect! by Topps®. For additional information visit fanaticsinc.com, topps.com, play.toppsapps.com.
Media Contact:
Kymberlee Bolden
kymberlee@tribebuildermedia.com
929-367-8993
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SOURCE Brittney Palmer | https://www.whsv.com/prnewswire/2022/08/30/topps-launches-limited-edition-star-wars-trading-card-collection-collaboration-with-brittney-palmer/ | 2022-08-30T10:49:27Z |
HELSINKI, Aug. 30, 2022 /PRNewswire/ -- Trevian acted as the buyer's advisor for the purchase, by private markets investment manager Partners Group, of the SaKa Hallikiinteistöt real estate portfolio in Finland. The portfolio contains 140,000 m2 of real estate in Finland's most central logistics and industrial areas. Trevian will manage the portfolio post acquisition, and the parties aim to grow the portfolio further. Logistics are an attractive and sought-after sector in the real estate investment industry.
The SaKa portfolio transaction, which includes a total of 20 properties, is one of the largest in Trevian's history. Partners Group, acting on behalf of its clients, is the primary owner, while Trevian is also invested in the portfolio and will continue as the real estate asset manager of the portfolio. The sellers in the transaction were Mandatum and Kaleva Mutual Insurance Company.
The logistics and industrial sector has become one of the most appealing in real estate, supported by the rise of online shopping, increased logistics needs, and office space purpose redesign. Occupancy is becoming tighter, and it can be difficult for occupiers to find good premises; for example, the market vacancy rate is around 4% and has been decreasing for a long time, which underlines the strength of the sector.
"We are proud that we were able to facilitate the completion of the transaction. In the future, our goal is to increase the portfolio even further, and buy more assets of similar characteristics. Amidst the challenges of the general market situation, we establish a new and important relationship with Partners Group through this transaction, further strengthening our position as Finland's leading commercial real estate asset manager", says Investment Director Risto Vuorenrinne from Trevian.
Partners Group, alongside Trevian, will execute the value creation plan and seek to scale the portfolio into a leading platform in Finland. Key value creation initiatives will include re-leasing assets at market rents, executing extensions to fulfil tenant expansion needs, as well as targeted capex initiatives to upgrade facilities with a strong focus on ESG-enhancement.
"We have been actively targeting the logistics sector across Europe and investing in select opportunities in strategic growth locations. The way we work, live, and consume is fundamentally changing and is increasing the demand for logistics occupiers in Finland, an export market relying on logistics to support its key economic industries," says Johan Johansson, Private Real Estate Europe, at Partners Group.
For additional information please contact:
Risto Vuorenrinne
Investment Director
Trevian Asset Management
+358 50 313 9350
risto.vuorenrinne@trevian.fi
www.trevian.fi
Trevian Asset Management is a Finnish investment and asset management company specializing in commercial and residential properties. The company was established in 2012 and is owned by its key personnel. The company produces actively managed real estate equity funds and asset management services optimized for its customers. The services are focused especially for institutional real estate investors, banks, and other professional investors. Trevian's assets under management near 1.0B€. www.trevian.fi/en/
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested USD 185 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 131 billion in assets under management as of 30 June 2022, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,600 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
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SOURCE Trevian | https://www.whsv.com/prnewswire/2022/08/30/trevian-invests-alongside-partners-group-large-scale-logistics-real-estate-transaction-trevian-will-act-asset-manager-grow-portfolio-further/ | 2022-08-30T10:49:33Z |
STOCKHOLM, Aug. 30, 2022 /PRNewswire/ -- Truecaller, one the world's leading global communications platforms, has launched a brand-new version of their iPhone app for users around the world. The iOS app has been completely re-written from the ground up to be lighter, more efficient, and most important of all, it offers significantly better number identification, spam, scam and business call identification compared to previous versions of the app. The new app offers up to 10 times better spam and business identification compared to the previous version
This change has been brought about by an all-new architecture that leverages Truecaller's state-of-the-art spam detection algorithms and takes full advantage of Apple's technology to deliver the optimal caller ID solution. The app seamlessly integrates with Apple's default phone app to show results from Truecaller right in the call log. Truecaller has developed the most current, accurate, and complete first ring Caller ID and spam detection for every geography and we ensure this by automatically updating spam information in the background. It also includes a huge design refresh and new user experience flow that results in far shorter times for initial onboarding and quicker day-to-day navigation through the app.
"We've been innovating within Apple's platform to bring users more powerful features like Call Alerts and a convenient search extension. Our new totally rewritten iPhone-app is now on par with our Android-app when it comes to identifying spam & verified business calls,'' said Alan Mamedi, Co-founder and CEO of Truecaller. This update has been a long time coming for many iPhone users which today account for approximately 5% of our more than 320 million Monthly Active Users. Now we can offer them and new iPhone users the best performing identifier of spam and scam to help them separate the noise from the communication they want to respond to."
Highlights of the new Truecaller for iPhone:
- Significantly improved Caller ID, and improved protection against spam and scam
- Smoother and faster onboarding for new users
- Enhanced detail view when you search for numbers
- New Premium purchase flow with easier feature comparisons
- Lighter and faster than before: up to 30% smaller and 50% faster on most iPhones
- Redesigned search extension (from Phone > Recents > Share Contact)
Updates coming soon:
- Major improvements on SMS filtering, spam detection and community-based services, including a redesigned number look-up widget to search unknown callers even faster
- The iPhone app will also get automatic blocking of top spammers, the ability to view detailed statistics on spam marked numbers and the ability to view and contribute comments on spam marked numbers for additional context
- To download the latest free version, visit Truecaller on the iOS App Store
For more information, please contact:
Andreas Frid, Head of IR & Communication
+46 705 290800
andreas.frid@truecaller.com
About Truecaller:
Truecaller (TRUE B) is a leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for business to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 320 million active users, with half a billion downloads since launch and around 38 billion unwanted calls identified and blocked in 2021. Headquartered in Stockholm, since 2009, we are a co-founder led, entrepreneurial company, with a highly experienced management team. Truecaller is listed on Nasdaq Stockholm since 8 October 2021.
For more information, please visit corporate.truecaller.com
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SOURCE Truecaller AB | https://www.whsv.com/prnewswire/2022/08/30/truecaller-launches-vastly-improved-iphone-app/ | 2022-08-30T10:49:40Z |
HO CHI MINH CITY, Vietnam, Aug. 29, 2022 /PRNewswire/ -- In 2022, Trust Markets remains as one of the most transparent, secured and optimized trading platforms, continuing its own success of having the "Best Trade Execution" and "Best Trading Conditions" in 2021, according to Global Business Magazine and World Forex Awards. Specifically, based on customer reviews across multiple trading forums, Trust Markets carry excellent qualities such as incredibly short execution time, 24/7 worldwide customer support, and access to more than 1000 trading instruments.
Trust Markets - over half a decade of staying relevant
Trust Markets trading platform is one of the most popular financial services - securities brokers for the investor community in 2022. The platform provides and supports retail traders with easy access to the largest financial marketplace worldwide.
So far, the brokerage firm is well-positioned in the global marketplace for six years. Founded in 2018, Trust Markets has been registered and authorised with the company license No. 1848 LLC 202. The platform receives favourable reviews by experts for its quality and transparency of each trades under the regulation of FSA.
Comprehensive MT5 Trading Platform
The fact that Trust Markets is a leading forex and CFD broker on the Vietnamese financial market today allows it to provide multiple in-demand services for all investors. That includes Metatrader 5 (MT5), which is one of the best stock trading platforms up to date.
With the MT5 platform being offered, professional investors would be able work with multiple account types as well as varying brokers simultaneously. For this reason, MT5 is recognized as a strong, rapid and trusted go-to platform as of late. What more, Trust Markets also brings up another trading platform called WebTrader. As a result, market participants on Trust Markets might well enjoy the versatility by switching one platform to the other and vice versa.
Incredible offerings and promotions
Upbeat market-savvy reviews aside, offerings and promotions would be another big plus for the broker's credibility. Justified by the dedicated mission of developing a strong investing network, it is not a surprise that Trust Markets platform has provided one-of-a-kind promotion schemes to the Vietnamese stock market to support and drive inspiration.
- Super Star Bonus
Trust Markets offers an attractive first deposit bonus program adding up to 200% of your funds. It is a common pitch among the trader community that "top-notch promotions are only available at fastest growing brokers". With all that being said, Trust Markets is definitely the first choice to go without hesitation.
- Refer a Friend
Inviting a new player would allow you and your friend both to receive $500 directly into your balance on Trust Markets with no referral restriction. More people got invited, more incentives.
Exclusive educational program at Trust Markets
Educational courses are provided exclusively on Trust Markets. This is an excellent approach to tap into the deepest understandings of making trades, getting to know the real-world challenge in the stock market with experienced veterans, etc. Learning courses can be found in successive orders ranking from basic to advanced, which include:
- Webinars
- Live online classes
- Video tutorials
- Investing Ebook
- Daily stock market analysis
Professional support team available 24/7
With the focus on customer centricity, Trust Markets' customer support service is set to operate on an "anytime, anywhere" basis. This is seen as a benefit for its clients due to the immediate accessibility of solutions.
About Trust Markets
Trust Markets is a brokerage company specializing in providing all financial and securities investment services such as FX, indices, CFDs, gold, stocks, etc.
Trust Markets has a wide network of connections, so it is currently connecting with all major exchanges around the world. So traders will have the opportunity to trade with all types of assets on prominent exchanges which include exchanges such as NYSE, London Stock Exchange or Nasdaq. Therefore, customers do not have to hesitate to choose or consider and compare with rival exchanges.
Website: https://trustmarkets.com/
Fanpage: https://www.facebook.com/Trustmarket-105510912141266/
Email: support@trustmarkets.com
Hotline: 1900 234 580
Working hours: 24/7
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SOURCE Trust Markets | https://www.whsv.com/prnewswire/2022/08/30/trust-markets-2022-performance-reveals-exceptional-qualities/ | 2022-08-30T10:49:46Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Tuya Inc. (NYSE: TUYA) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons or entities who purchased Tuya American Depositary Shares in or traceable to the Company's March 2021 initial public offering.
Lead Plaintiff Deadline: October 11, 2022
No obligation or cost to you.
Learn more about your recoverable losses in TUYA:
https://www.kleinstocklaw.com/pslra-1/tuya-class-action-submission-form?id=31230&from=4
CLASS ACTION CASE DETAILS: The filed complaint alleges that Tuya Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) a material portion of Tuya's China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com's terms of use; (b) prior to the initial public offering, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by many of Tuya's clients, among others, which included, inter alia, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (c) as a result of (a) and (b) above, there was a substantial risk that a material portion of Tuya's significant customers would be barred from using Amazon.com's platform, negatively impacting Tuya's business, revenue, earnings, and prospects; and (d) as a result of (a)-(c) above, the registration statement's representations regarding Tuya's historical financial and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the initial public offering, and such statements were materially false and misleading and lacked a reasonable factual basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Tuya you have until October 11, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Tuya securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the TUYA lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/tuya-class-action-submission-form?id=31230&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/tuya-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-11-2022-class-action-filed-behalf-tuya-inc-shareholders/ | 2022-08-30T10:49:53Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Unity Software Inc. (NYSE: U) alleging that the Company violated federal securities laws.
Class Period: March 5, 2021, to May 10, 2022
Lead Plaintiff Deadline: September 6, 2022
No obligation or cost to you.
Learn more about your recoverable losses in U:
https://www.kleinstocklaw.com/pslra-1/unity-software-class-action-loss-form?id=31219&from=4
CLASS ACTION CASE DETAILS: The filed complaint alleges that Unity Software Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) deficiencies in Unity's product platform reduced the accuracy of the Company's machine learning technology; (ii) the foregoing was likely to have a material negative impact on the Company's revenues; (iii) accordingly, Unity had overstated the Company's commercial and/or financial prospects for 2022; (iv) as a result, the Company was likely to have to reduce its fiscal 2022 guidance; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Unity you have until September 6, 2022, to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Unity securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the U lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/unity-software-class-action-loss-form?id=31219&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/u-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-6-2022-class-action-filed-behalf-unity-software-inc-shareholders/ | 2022-08-30T10:50:00Z |
Trend Micro subsidiary to facilitate EV industry compliance and sustainable development
TAIPEI, Taiwan, Aug. 30, 2022 /PRNewswire/ -- VicOne, an automotive cybersecurity solution provider established by cloud security leader Trend Micro, announced today a partnership with Delta Electronics, a global leader of power and energy management solutions. The partnership will empower Delta's customers and EV charging partners to strengthen data security practices and comply with international standards, enabling critical business opportunities in international markets.
Edward Tsai, Vice President of Strategic Partnership at VicOne: "The global EV market is in a phase of rapid development and becoming a regular target of hackers as a result. The battle has already begun in the industrial chain where EV power infrastructure is a critical but easily ignored element. Building an ecosystem with cybersecurity in mind is crucial to achieving a safer and more competitive future for the automotive supply chain."
The global EV market is booming, and the US and EU have announced plans to include EV charging networks in national infrastructure. As the smart connector between the vehicle and network, the charging pile functions as an energy distributor, a remote monitor and meter – as well as a target for cybercriminals. To ensure secure data transmission security for charging piles and power management platforms, VicOne's xCarbon (IDPS) will be incorporated into DeltaGrid® energy management gateways for EV charging infrastructure.
Dr. Cally Ko, Vice President & General Manager of Corporate Strategic Business Development and Alliance at Delta Electronics, Inc.: "As demand for charging infrastructure spreads from residential to commercial spaces, DeltaGrid® EVM system empowers businesses to realize their vision of sustainable operation through optimized charging pile management and efficiency. Our partnership with VicOne will enable our customers to comply with the highest standards of international regulations and quickly deploy safe and efficient charging infrastructure."
Powered by Trend Micro's 30+ years of experience in cybersecurity, VicOne offers security solutions and services for EVs and related supply chain products. xCarbon (IDPS) simultaneously collects detection log and telemetry data and sends them to xNexus , a cloud-based extended detection and response (XDR) platform for vehicle security operations center (VSOC) after optimization for threat analysis. The platform also rapidly addresses new threats through firewall rules, access control strategy and virtual patching
About VicOne
With a vision to secure the vehicles of tomorrow, VicOne delivers a broad portfolio of cybersecurity software and services for the automotive industry. Purpose-built to address the rigorous needs of automotive manufacturers, VicOne solutions are designed to secure and scale with the specialized demands of the modern vehicle. As a Trend Micro subsidiary, VicOne is powered by a solid foundation in cybersecurity drawn from Trend Micro's 30+ years in the industry, delivering unparalleled automotive protection and deep security insights that enable our customers to build secure as well as smart vehicles. For more information, visit www.vicone.com.
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SOURCE VicOne | https://www.whsv.com/prnewswire/2022/08/30/vicone-partners-with-delta-electronics-secure-ev-charging-infrastructure/ | 2022-08-30T10:50:07Z |
PALM BEACH GARDENS, Fla., Aug. 30, 2022 /PRNewswire/ -- VitalLife Scientific Wellness Center in Bangkok, Thailand has achieved Certification for Excellence in Medical Travel Patient Experience by Global Healthcare Accreditation (GHA).
A subsidiary of Bumrungrad International Hospital, VitalLife strives to provide personalized medicine that not only promotes health, but also encourages illness prevention and aging resilience initiatives for anti-aging to help people feel younger, look better and live longer. Established in 2001, its dedicated and experienced team of professionals have a proven track record of success with customers from over 150 different countries.
According to Dr. Narinthorn Surasinthon, Chief Operating Officer at VitalLife, "All procedures and treatments offered by VitalLife are supported by evidence-based medicine. This allows us to provide our patients with precise and effective medical treatments that are fully personalized to their unique physical and mental characteristics. We chose GHA's Certification for Excellence in Medical Travel Patient Experience as it demonstrates to international patients that we are committed to ensuring their satisfaction and well-being at every contact point along the patient journey."
Global Healthcare Accreditation (GHA) was established with the goal of enhancing the patient experience for medical travelers across the entire Medical Travel Care Continuum. GHA's Certification for Excellence in Medical Travel Patient Experience helps organizations to strengthen and sustain a robust medical travel program and recognize its excellence in compliance with best practices in patient experience and business practices impacting the medical travel patient.
The value for hospitals and clinics that achieve certification includes:
- Implementing best practices as a foundation for an efficient and productive medical travel program;
- Validating the quality and performance of the medical travel program regarding patient experience and sustainable business practices;
- Increasing visibility to international patients and buyers;
- Enhancing the patient experience across the organization's Medical Travel Care Continuum;
- Demonstrating commitment to excellence in the management and delivery of medical travel services.
Certification for Excellence in Medical Travel Patient Experience is a good choice for organizations that already have or may not have a clinical/patient safety accreditation or certification.
Ms. Renée-Marie Stephano, GHA's Interim Chief Executive Officer stated, "The patient experience is a key factor of a healthcare provider's ability to attract and retain patients. When patients trust providers, they develop a stronger sense of loyalty to the organization. GHA's Certification for Excellence in Medical Travel Patient Experience assists organizations in building patient trust, by demonstrating that the organization has implemented procedures and protocols that meet the unique needs and expectations of traveling patients. We congratulate VitalLife Scientific Wellness Center, one of the region's premier wellness centers, for achieving GHA Certification for Excellence and for its commitment to supporting the needs of medical and wellness tourism patients."
About VitalLife Scientific Wellness Center:
Established in 2001, The VitalLife Scientific Wellness Center incorporates health promotion/illness prevention, aesthetic and dermatological interventions to maximize patient health and beauty from the inside out. VitalLife strives to use the most up to date technology in order to support advanced cutting-edge treatment options.
About Global Healthcare Accreditation (GHA):
Founded in 2016, Global Healthcare Accreditation is the only accrediting body focused solely on medical travel and well-being services. GHA's international standards and professional norms for medical travel were developed in consultation with leading global experts in the industry, including providers, insurers, and employers committed to establish best practices in medical tourism, health tourism, and well-being, which support providers in validating quality and patient experience, increasing visibility, and implementing a sustainable business model for providers along the entire medical travel care continuum. GHA received ISQua's International Society for Quality in Health Care External Evaluation Association (IEEA) accreditation in 2019.
Organizations interested in contacting Global Healthcare Accreditation (GHA) can make a request at info@ghaccreditation.com | www.GlobalHealthcareAccreditation.com
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SOURCE Global Healthcare Accreditation | https://www.whsv.com/prnewswire/2022/08/30/vitallife-achieves-ghas-certification-excellence-medical-travel-patient-experience/ | 2022-08-30T10:50:14Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Weber Inc. (NYSE: WEBR) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Weber Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's August 2021 initial public offering.
Lead Plaintiff Deadline: September 27, 2022
No obligation or cost to you.
Learn more about your recoverable losses in WEBR:
https://www.kleinstocklaw.com/pslra-1/weber-inc-loss-submission-form?id=31227&from=4
Weber Inc. NEWS - WEBR NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Weber Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Weber was reasonably likely to implement price increases; (2) as a result, consumer demand for Weber's products was reasonably likely to decrease; (3) due to the resulting inventory buildup, Weber was reasonably likely to run promotions to "enhance retail sell through"; (4) the foregoing would adversely impact Weber's financial results; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Weber you have until September 27, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Weber securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the WEBR lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/weber-inc-loss-submission-form?id=31227&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/webr-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-27-2022-class-action-filed-behalf-weber-inc-shareholders/ | 2022-08-30T10:50:21Z |
SHREVEPORT, La., Aug. 30, 2022 /PRNewswire/ -- Wolfgramm Capital acquires the 78-room extended-stay Residence Inn by Marriott, according to Wolfgramm Capital's Co-Founder and CEO, Phil Wolfgramm. Conveniently located near Shreveport regional airport, the exclusive hotel offers comfortable suites for long and short-term trips and is minutes away from bustling downtown entertainment.
"We are excited to acquire a Residence Inn branded hotel and look forward to elevating this hotel through our firm's hotel management arm: Wolfgramm Properties. The Residence Inn brand's stellar reputation sets the standard in hospitality, and we will work to exceed expectations for our guests," says Co-Founder and COO Koloa Wolfgramm.
The hotel boasts amenities including an outdoor swimming pool and whirlpool, a fitness center, outdoor sports court, on-site guest laundry facilities and sundries mart. All guest rooms provide quality comfort, while their newly renovated suites provide all the proper live-away necessities including full kitchens with stovetops, dishwashers, and a separate living area with pull-out sofa beds.
Formed in 2021 by Phil Wolfgramm, Koloa Wolfgramm, and Russell Handy, the new private equity real estate firm has amassed an impressive 150-million-dollar asset portfolio in its first eight months. With decades of combined experience in operating hotels, asset managing luxury resorts, consulting in the real estate legal field, and managing funds in the private equity sector, the principals of Wolfgramm Capital are uniquely positioned to capitalize on their experience elevate the Residence Inn by Marriott Shreveport Airport hotel.
For more information on Wolfgramm Capital, please visit www.wolfgramm.com or email pr@wolfgramm.com.
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SOURCE Wolfgramm Capital | https://www.whsv.com/prnewswire/2022/08/30/wolfgramm-capital-acquires-shreveport-residence-inn-by-marriott/ | 2022-08-30T10:50:28Z |
Reltime to be profiled in "FinTech For Good" film by ITN Productions and FINTECH Circle
OSLO, Norway, Aug. 30, 2022 /PRNewswire/ -- Reltime AS is pleased to announce that it has appointed Milana Bjelogrlić as its Global Web3 and Metaverse Ambassador.
Reltime aims at becoming the preferred and trusted Metaverse partner for both people and businesses world-wide. The company already offers SDKs (software development kits) and OpenAPIs for different types of Metaverses. Reltime is currently involved in creating the world's first Web3 and Metaverse payment, identity and cold storage biometric card.
Born in Serbia, Milana started kickboxing at the age of 19 and became a European K1 (for fighters under 60 kg.) champion. In 2019 Milana became the K1 World Champion for the first time, defending her title in 2021 in Italy, and Milana was awarded the ECE Enfusion Flyweight World title in June of this year (2022). She is an artist, pianist, and is finalising her Master's in Art, Culture and Society at Erasmus University in Rotterdam, The Netherlands. Her ongoing research is focussed at the convergence of Art and the Martial Arts.
"I am committed and super pumped to be Reltime's first Global Web3 and Metaverse Ambassador. Reltime shares my values and I fully back the disruptive company's vision of a world where the power belongs in the hands of the people—regardless of income, background, gender, race, ethnicity, banked, unbanked or underbanked status. Reltime is fighting for something that is close to my heart. We both are go-getters and go-givers. The definition of greatness is to inspire people next to you and leave a legacy that will last forever. With Reltime, I truly believe that everyone can be part of creating a new world that inspires and motivates us for the better. Let's begin something that will not just end with ourselves—both in the Universe and on the Metaverses!"
"As a young professional athlete and artist, Milana is motivated by discomfort rather than being intimidated by it," says Peter Michel Heilmann, CEO, Reltime. "Whether on the Metaverses or in the real world, Milana's new global role is to inspire and help empower people and businesses to take back control of their finances, assets and freedom. An independent, bubbly, strong, talented and gifted fighter and friend, she embodies Reltime's mission, vision and ethos in her own authentic way."
Last week, Milana was interviewed at Reltime's headquarters in Oslo for the forthcoming "FinTech for Good" film, produced by ITN Productions and FINTECH Circle and launching November 30, 2022 at FinTech Connect, the UK's leading FinTech conference and tradeshow. The key objective of this short film is to raise awareness and shine the spotlight on the significant FinTech contributions to societal and global advancements from visionary organisations and industry leaders. FINTECH Circle is a global platform of more than 216,000 FinTech entrepreneurs, investors, finance professionals, academic and government representatives, and solution providers.
Reltime will be participating in the FinTech Connect Conference at ExCeL London, November 30 and December 1, during which the #FinTechforGood film will be showcased on the main stage. After lunch, Peter Michel Heilmann will participate in a panel discussion around the subject of FinTech for Good.
About Reltime
A disruptive technology company changing the game in the new world, Reltime has built the world's first global Web3 financial ecosystem on top of its Layer 1, Proof of Authority blockchain. Headquartered in Oslo, Reltime is empowering a global tribe of people and businesses to take back control of their finances, assets and freedom. Reltime's members are able to send, receive, withdraw, deposit, borrow, lend, earn, swap, interact, transact and open joint accounts within the Web3 ecosystem in 150 countries. They can also create their own Reltime tribe, both locally and internationally.
In addition, Reltime offers cutting-edge, white-labelled B2B2C, Metaverse and Web3 embedded finance (FastTrack to Web3) solutions to trusted partners around the world. With subsidiaries in Norway (Conax Technology AS, established in January 2010), Lithuania and El Salvador, Reltime recently secured a USD 50 million investment commitment from GEM Digital Limited. Download Reltime's 24-page presentation at: www.reltime.com/pitch.
#MoreThanMoney
For any media or investor enquiries, please contact:
Cornelia S. van der Laak, International Relations Officer
Reltime AS
Tel.: +4740769988
cornelia@reltime.com
Peter Michel Heilmann, CEO
Reltime AS
pm@reltime.com
https://www.reltime.com/
Twitter: https://twitter.com/reltime_rtc
Facebook: https://www.facebook.com/reltimeecosystem
LinkedIn: https://www.linkedin.com/company/reltimedefi
Telegram: https://t.me/reltimedefiecosystem
BitMart: https://www.bitmart.com/trade/en?symbol=RTC_USDT
CoinTiger: https://nomics.com/exchanges/cointiger/markets/rtc_usdt
This information was brought to you by Cision http://news.cision.com
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SOURCE Reltime AS | https://www.whsv.com/prnewswire/2022/08/30/world-kickboxing-champion-milana-bjelogrli-becomes-reltime-global-web3-metaverse-ambassador/ | 2022-08-30T10:50:34Z |
NEW YORK, Aug. 30, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of 17 Education & Technology Group Inc. (NASDAQ: YQ) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded 17EdTech securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with 17EdTech's December 2020 initial public offering.
Lead Plaintiff Deadline: September 19, 2022
No obligation or cost to you.
Learn more about your recoverable losses in YQ:
https://www.kleinstocklaw.com/pslra-1/17-education-technology-group-inc-loss-submission-form?id=31225&from=4
17 Education & Technology Group Inc. NEWS - YQ NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that 17 Education & Technology Group Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) 17EdTech's K-12 Academic AST Services would end less than a year after the Company's initial public offering; (2) as part of its ongoing regulatory efforts, Chinese authorities would imminently curtail and/or end 17EdTech's core business; and (3) as a result, defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in 17EdTech you have until September 19, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased 17EdTech securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the YQ lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/17-education-technology-group-inc-loss-submission-form?id=31225&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/30/yq-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-19-2022-class-action-filed-behalf-17-education-amp-technology-group-inc-shareholders/ | 2022-08-30T10:50:41Z |
AILSA CHANG, HOST:
The Ukrainian military says it is beginning attacks in the southern part of the country to take back territory captured by the Russians. Ukrainian officials have talked about a major counteroffensive for months, but the military has failed to recapture much territory.
For more on what's happening on the ground and what it means, we turn now to NPR Pentagon correspondent Tom Bowman and NPR's Frank Langfitt, who was near the front lines this morning in Ukraine's Mykolaiv region. Hi to both of you.
TOM BOWMAN, BYLINE: Hey, Ailsa.
FRANK LANGFITT, BYLINE: Hi, Ailsa.
CHANG: So, Frank, let's start with you. How is Ukraine explaining what exactly is happening right now?
LANGFITT: You know, the Southern Command down here is saying the Ukrainian Army is attacking the Russians from several directions. And I think, ultimately, the goal would be to take back the Kherson region and Kherson city. This is a strategic port that leads into the Black Sea. It's also symbolic. It's the only regional capital to fall to the Russians. But exactly how big this effort we're seeing just today is not clear.
I'd been in touch with a number of soldiers in the field today, and I asked, you know, is this the long-promised counteroffensive that we've been hearing about from the government? And one said, I hope so. Another said things looked a bit abstract. Another said this definitely is. And even another said, well, it's the start of something, but he wasn't quite sure what. So I think that, even in the battlefield, it's not entirely clear what's going on, and we're going to have to see how this plays out over the next few days.
CHANG: OK, well, Tom, how is the Pentagon framing what's happening?
BOWMAN: Well, we had a background briefing with a senior military official, and he said call the Ukrainians and ask them what's going on. And I said, well, we're talking to you. And he said he's seen an uptick in fighting around the Kherson area; no particulars or any offensive or counteroffensive. He said Ukrainians are making some small advances. And we pressed him on it and said, you know, is this a counteroffensive or not? And he said, well, you know, there's some offensive moves. Is this a larger counteroffensive? He said, I don't know. We'll know more in the next 24 to 48 hours.
And earlier today, I spoke with another official who also was more circumspect. He said, listen, the Ukrainians have done a really good job at shaping the battlefield - hitting Russian command centers, troop concentrations, weapon depots - behind the lines in preparation for a counteroffensive. But he said it remains to be seen if this is the start of something big.
You know, I was talking to a military intelligence official, and he said, what is the goal if there is a counteroffensive? Is it Kherson? Is it somewhere else? And also, if you can seize Kherson, then what? Can you hold it? That's going to be key. I think a lot of people don't believe that Ukraine can push out Russian forces from the entire country.
CHANG: OK. Well, whether this is truly a counteroffensive or not, Frank, as we mentioned, you were out near the front lines today. Did you see much evidence that Ukrainians are indeed stepping up attacks?
LANGFITT: Yeah, I did. I went to this small village to interview infantry. And when I arrived, I found out they'd been sent to the front lines, which was clearly a sign of something. And I was talking to the local village head, and she told me the Ukrainians had taken two villages overnight. And as I was talking to her, I started to hear more and more outgoing artillery, saw more tanks, armored personnel carriers moving quickly along the roads. And finally, the press officer who was escorting us signaled me to wrap up the interview, and we quickly headed out of the village for our own safety.
CHANG: Well, what I want to understand is - Ukrainians have been talking about a counteroffensive for quite a while now. What has been holding that up?
LANGFITT: Well, they've been making really - just like Tom was saying, they've been making really slow progress. The village where I was this morning, Ailsa - in April, it was a mile from the front lines. Today, it's about six miles. So that means the progress is five miles in four months. The Ukrainians say that the Russians are well dug in. They've sent a lot more troops down to the Kherson region. And they also say that the Russians still have them outgunned.
Now, in recent months, there has been a change. The Ukrainians have more long-range, more precise weapons - we're talking about what are called M777 Howitzers from the Americans as well as the HIMAR rockets, which are - frankly, the Ukrainian troops rave about. I even saw some last week launch from a field. They're highly effective and accurate, but the Ukrainians keep saying they simply don't have enough of these, which, Ailsa, raises the question - you know, can you mount a big offensive and be successful without more of these heavy weapons?
BOWMAN: And along those lines, they're also - over a week ago, the Pentagon said, we're going to send dozens of armored vehicles - MRAPs, they're called - up-armored Humvees and also armored vehicles with rollers on the front to detonate mines, which you would need for some sort of a counteroffensive; also, surveillance drones and also kamikaze ones that could attack Russian armor or troop concentrations. That was just a little over a week ago. All that stuff would be vital in a counteroffensive. The question is, has it arrived yet? And we really don't know at this point, but that tells you they clearly are preparing for something big.
CHANG: Well, Tom, can you just explain why a counteroffensive, particularly now, is so important for Ukraine?
BOWMAN: Well, again, Ukrainians and some Western officials have been telegraphing a counteroffensive for a while now. But, again, just last week, a senior defense official said there's been little movement from either the Ukrainians or the Russian forces. It's been that way for weeks. So I think, as more equipment comes in from the West, Ukraine realizes it must show it can seize and also hold ground. That's important for both its citizens and also for U.S. and NATO countries. And before winter sets in, I think there has to be progress, or you're going to see some voices, especially in Europe - and Frank knows this better than anyone - might start calling for talks to end the war. It's taken a huge toll, in particular on the European economy and also its energy needs.
LANGFITT: Yeah, the greatest fear when I talk to Ukrainian commanders is that they won't have enough weapons from their perspective, and they'll end up having to go to a negotiating table with a weak hand and end up having to be in a position where they might have to cede land, which they absolutely don't want to do. Why the sense of urgency right now? In a few months, there won't be any leaves on the trees down here. This is flat farm land. And so it won't be possible to mount offensives because you'll have no place for cover. You'll be completely exposed.
CHANG: Right.
LANGFITT: And one commander I was talking to was just really anxious and said, you know, we're running out of time to be able to do much right now.
CHANG: That was NPR's Frank Langfitt and Tom Bowman. Thank you to you both.
BOWMAN: You're welcome.
LANGFITT: Great to talk, Ailsa. Transcript provided by NPR, Copyright NPR. | https://www.keranews.org/2022-08-29/ukraine-begins-offensive-in-south-to-take-back-territory-from-russia | 2022-08-30T11:04:33Z |
A former U.S. special forces translator reflects on the fall of Kabul Published August 30, 2022 at 4:10 AM CDT Facebook Twitter LinkedIn Email Listen • 2:30 An Afghan American naval reservist and non-profit founder reflects on the U.S. troop withdrawal from Afghanistan, one year later. Copyright 2022 NPR | https://www.keranews.org/2022-08-30/a-former-u-s-special-forces-translator-reflects-on-the-fall-of-kabul | 2022-08-30T11:04:39Z |
A former Syrian official known as the Grave Digger has become an important witness against the regime - but bears the trauma of what he's seen and described in court.
Copyright 2022 NPR
A former Syrian official known as the Grave Digger has become an important witness against the regime - but bears the trauma of what he's seen and described in court.
Copyright 2022 NPR | https://www.keranews.org/2022-08-30/an-unnamed-syrian-official-is-a-key-witness-in-proving-war-crimes-of-the-regime | 2022-08-30T11:04:45Z |
Steak prices have decreased as meatpackers processed more beef. But drought-stricken cattle ranchers are having to cut their herds, which is likely to lead to higher beef prices in the future.
Copyright 2022 NPR
Steak prices have decreased as meatpackers processed more beef. But drought-stricken cattle ranchers are having to cut their herds, which is likely to lead to higher beef prices in the future.
Copyright 2022 NPR | https://www.keranews.org/2022-08-30/beef-prices-are-down-right-now-but-that-may-not-last | 2022-08-30T11:04:51Z |
A conservative Christian group is forcing public libraries in South Louisiana to remove books about sexuality, race and gender and targeting the state's Librarian of the Year for her opposition.
Copyright 2022 NPR
A conservative Christian group is forcing public libraries in South Louisiana to remove books about sexuality, race and gender and targeting the state's Librarian of the Year for her opposition.
Copyright 2022 NPR | https://www.keranews.org/2022-08-30/conservative-christian-groups-are-targeting-louisiana-libraries | 2022-08-30T11:04:57Z |
Morning news brief Published August 30, 2022 at 4:10 AM CDT Facebook Twitter LinkedIn Email Listen • 11:05 The FDA is expected to authorize boosters for omicron. Serena Williams wins her first U.S. Open match. And, Ukraine asks the EU to ban Russian travel for tourism. Copyright 2022 NPR | https://www.keranews.org/2022-08-30/morning-news-brief | 2022-08-30T11:05:03Z |
New England is experiencing more frequent droughts, which threaten farmers, deplete water supplies, and increase the risk of wildfires. This summer's been a tough one.
Copyright 2022 WBUR
New England is experiencing more frequent droughts, which threaten farmers, deplete water supplies, and increase the risk of wildfires. This summer's been a tough one.
Copyright 2022 WBUR | https://www.keranews.org/2022-08-30/new-england-has-been-suffering-from-frequent-droughts-all-summer | 2022-08-30T11:05:09Z |
Voluntary conservation is embraced by some farmers who get payments. But some governors are comparing the Biden administration's new plan to step up conservation goals to a government takeover.
Copyright 2022 Nebraska Public Media
Voluntary conservation is embraced by some farmers who get payments. But some governors are comparing the Biden administration's new plan to step up conservation goals to a government takeover.
Copyright 2022 Nebraska Public Media | https://www.keranews.org/2022-08-30/republican-politicians-are-critical-of-bidens-voluntary-farm-conservation-plans | 2022-08-30T11:05:15Z |
Serena Williams has left an indelible mark on tennis Published August 30, 2022 at 4:10 AM CDT Facebook Twitter LinkedIn Email Listen • 5:11 NPR's A Martinez speaks with The Atlantic's Jemele Hill about the legacy of tennis phenom Serena Williams. Copyright 2022 NPR | https://www.keranews.org/2022-08-30/serena-williams-has-left-an-indelible-mark-on-tennis | 2022-08-30T11:05:21Z |
In what might be the final tournament of her storied tennis career, Serena Williams won an emotional match in straight sets in the first round of the U.S. Open last night.
Copyright 2022 NPR
In what might be the final tournament of her storied tennis career, Serena Williams won an emotional match in straight sets in the first round of the U.S. Open last night.
Copyright 2022 NPR | https://www.keranews.org/2022-08-30/serena-williams-wins-her-first-round-match-of-what-could-be-her-last-u-s-open | 2022-08-30T11:05:28Z |
The Food and Drug Administration is planning to authorize a new generation of COVID-19 boosters this week that for the first time will target the omicron variant.
Copyright 2022 NPR
The Food and Drug Administration is planning to authorize a new generation of COVID-19 boosters this week that for the first time will target the omicron variant.
Copyright 2022 NPR | https://www.keranews.org/2022-08-30/the-fda-is-expected-to-authorize-a-new-covid-booster-that-targets-omicron | 2022-08-30T11:05:34Z |
We've got any number of devices we can strap to our bodies to track our footsteps, heart rate, and sleep patterns. Next up, possibly — sweat monitoring for precision rehydration and worker safety.
Copyright 2022 NPR
We've got any number of devices we can strap to our bodies to track our footsteps, heart rate, and sleep patterns. Next up, possibly — sweat monitoring for precision rehydration and worker safety.
Copyright 2022 NPR | https://www.keranews.org/2022-08-30/this-massachusetts-startup-wants-to-track-your-sweat | 2022-08-30T11:05:40Z |
Ukraine wants the EU to ban Russian tourists Published August 30, 2022 at 4:10 AM CDT Facebook Twitter LinkedIn Email Listen • 4:00 The European Union is being asked to join member countries along the Russian border and reject tourist travel by Russians. Copyright 2022 NPR | https://www.keranews.org/2022-08-30/ukraine-wants-the-eu-to-ban-russian-tourists | 2022-08-30T11:05:46Z |
Despite a massive marketing campaign, Pew research found just 16% of Americans have invested in or used cryptocurrency. Leila Fadel asks Blockchain Foundation's Cleve Mesidor why?
Copyright 2022 NPR
Despite a massive marketing campaign, Pew research found just 16% of Americans have invested in or used cryptocurrency. Leila Fadel asks Blockchain Foundation's Cleve Mesidor why?
Copyright 2022 NPR | https://www.keranews.org/2022-08-30/why-americans-havent-been-convinced-on-cryptocurrency | 2022-08-30T11:05:52Z |
AILSA CHANG, HOST:
The Ukrainian military says it is beginning attacks in the southern part of the country to take back territory captured by the Russians. Ukrainian officials have talked about a major counteroffensive for months, but the military has failed to recapture much territory.
For more on what's happening on the ground and what it means, we turn now to NPR Pentagon correspondent Tom Bowman and NPR's Frank Langfitt, who was near the front lines this morning in Ukraine's Mykolaiv region. Hi to both of you.
TOM BOWMAN, BYLINE: Hey, Ailsa.
FRANK LANGFITT, BYLINE: Hi, Ailsa.
CHANG: So, Frank, let's start with you. How is Ukraine explaining what exactly is happening right now?
LANGFITT: You know, the Southern Command down here is saying the Ukrainian Army is attacking the Russians from several directions. And I think, ultimately, the goal would be to take back the Kherson region and Kherson city. This is a strategic port that leads into the Black Sea. It's also symbolic. It's the only regional capital to fall to the Russians. But exactly how big this effort we're seeing just today is not clear.
I'd been in touch with a number of soldiers in the field today, and I asked, you know, is this the long-promised counteroffensive that we've been hearing about from the government? And one said, I hope so. Another said things looked a bit abstract. Another said this definitely is. And even another said, well, it's the start of something, but he wasn't quite sure what. So I think that, even in the battlefield, it's not entirely clear what's going on, and we're going to have to see how this plays out over the next few days.
CHANG: OK, well, Tom, how is the Pentagon framing what's happening?
BOWMAN: Well, we had a background briefing with a senior military official, and he said call the Ukrainians and ask them what's going on. And I said, well, we're talking to you. And he said he's seen an uptick in fighting around the Kherson area; no particulars or any offensive or counteroffensive. He said Ukrainians are making some small advances. And we pressed him on it and said, you know, is this a counteroffensive or not? And he said, well, you know, there's some offensive moves. Is this a larger counteroffensive? He said, I don't know. We'll know more in the next 24 to 48 hours.
And earlier today, I spoke with another official who also was more circumspect. He said, listen, the Ukrainians have done a really good job at shaping the battlefield - hitting Russian command centers, troop concentrations, weapon depots - behind the lines in preparation for a counteroffensive. But he said it remains to be seen if this is the start of something big.
You know, I was talking to a military intelligence official, and he said, what is the goal if there is a counteroffensive? Is it Kherson? Is it somewhere else? And also, if you can seize Kherson, then what? Can you hold it? That's going to be key. I think a lot of people don't believe that Ukraine can push out Russian forces from the entire country.
CHANG: OK. Well, whether this is truly a counteroffensive or not, Frank, as we mentioned, you were out near the front lines today. Did you see much evidence that Ukrainians are indeed stepping up attacks?
LANGFITT: Yeah, I did. I went to this small village to interview infantry. And when I arrived, I found out they'd been sent to the front lines, which was clearly a sign of something. And I was talking to the local village head, and she told me the Ukrainians had taken two villages overnight. And as I was talking to her, I started to hear more and more outgoing artillery, saw more tanks, armored personnel carriers moving quickly along the roads. And finally, the press officer who was escorting us signaled me to wrap up the interview, and we quickly headed out of the village for our own safety.
CHANG: Well, what I want to understand is - Ukrainians have been talking about a counteroffensive for quite a while now. What has been holding that up?
LANGFITT: Well, they've been making really - just like Tom was saying, they've been making really slow progress. The village where I was this morning, Ailsa - in April, it was a mile from the front lines. Today, it's about six miles. So that means the progress is five miles in four months. The Ukrainians say that the Russians are well dug in. They've sent a lot more troops down to the Kherson region. And they also say that the Russians still have them outgunned.
Now, in recent months, there has been a change. The Ukrainians have more long-range, more precise weapons - we're talking about what are called M777 Howitzers from the Americans as well as the HIMAR rockets, which are - frankly, the Ukrainian troops rave about. I even saw some last week launch from a field. They're highly effective and accurate, but the Ukrainians keep saying they simply don't have enough of these, which, Ailsa, raises the question - you know, can you mount a big offensive and be successful without more of these heavy weapons?
BOWMAN: And along those lines, they're also - over a week ago, the Pentagon said, we're going to send dozens of armored vehicles - MRAPs, they're called - up-armored Humvees and also armored vehicles with rollers on the front to detonate mines, which you would need for some sort of a counteroffensive; also, surveillance drones and also kamikaze ones that could attack Russian armor or troop concentrations. That was just a little over a week ago. All that stuff would be vital in a counteroffensive. The question is, has it arrived yet? And we really don't know at this point, but that tells you they clearly are preparing for something big.
CHANG: Well, Tom, can you just explain why a counteroffensive, particularly now, is so important for Ukraine?
BOWMAN: Well, again, Ukrainians and some Western officials have been telegraphing a counteroffensive for a while now. But, again, just last week, a senior defense official said there's been little movement from either the Ukrainians or the Russian forces. It's been that way for weeks. So I think, as more equipment comes in from the West, Ukraine realizes it must show it can seize and also hold ground. That's important for both its citizens and also for U.S. and NATO countries. And before winter sets in, I think there has to be progress, or you're going to see some voices, especially in Europe - and Frank knows this better than anyone - might start calling for talks to end the war. It's taken a huge toll, in particular on the European economy and also its energy needs.
LANGFITT: Yeah, the greatest fear when I talk to Ukrainian commanders is that they won't have enough weapons from their perspective, and they'll end up having to go to a negotiating table with a weak hand and end up having to be in a position where they might have to cede land, which they absolutely don't want to do. Why the sense of urgency right now? In a few months, there won't be any leaves on the trees down here. This is flat farm land. And so it won't be possible to mount offensives because you'll have no place for cover. You'll be completely exposed.
CHANG: Right.
LANGFITT: And one commander I was talking to was just really anxious and said, you know, we're running out of time to be able to do much right now.
CHANG: That was NPR's Frank Langfitt and Tom Bowman. Thank you to you both.
BOWMAN: You're welcome.
LANGFITT: Great to talk, Ailsa. Transcript provided by NPR, Copyright NPR. | https://www.wyomingpublicmedia.org/2022-08-29/ukraine-begins-offensive-in-south-to-take-back-territory-from-russia | 2022-08-30T11:27:37Z |
A Black pastor in Alabama says he was wrongfully arrested and charged with a crime while he was watering his neighbor's flowers.
Michael Jennings, a longtime pastor at Vision of Abundant Life Church in Sylacauga, Ala., says he was doing a neighborly deed of watering his out-of-town neighbor's flowers, per their request, when a police officer showed up.
"I'm supposed to be here. I'm Pastor Jennings. I live across the street," Jennings told the officer with Alabama's Childersburg Police Department, in newly released body camera footage of his arrest obtained by NPR.
"I'm looking out for their house while they're gone, watering their flowers," he added.
Following their arrival, officers arrested Jennings and placed him in the back of a police cruiser — later charging him with obstructing government operations, according to a criminal complaint.
Body camera footage captured of Jennings' arrest on May 22 was released by his attorneys last week, who are calling the situation unlawful.
The attorneys representing Jennings say the release of the body camera video will furthermore clear the way for "legal action against the officers and more."
"This video makes it clear that these officers decided they were going to arrest Pastor Jennings less than five minutes after pulling up and then tried to rewrite history claiming he hadn't identified himself when that was the first thing he did," said Harry Daniels, an Atlanta-based attorney representing Jennings, in a statement to NPR.
"It's irrational, irresponsible and illegal," he added.
During the 20-minute video obtained by NPR, a Childersburg police officer approaches Jennings as he is seen on camera watering plants in a yard.
Once the officer approaches Jennings and asks him what he is doing, he replies: "Watering flowers."
The officer, who was not identified by authorities, asks Jennings if a car parked in the neighbor's driveway belongs to him. Jennings responds to the officer saying the car belongs to his neighbor.
Later in the video, the officer asks the pastor if he lives at the home, and he says to the officer that he does not.
The officer says to Jennings that the police are responding to a call involving a "suspicious vehicle" and a suspicious person that's "not supposed to be in the yard," and the officer asks Jennings for his identification.
"Who's saying that?" Jennings asks the officer.
"They called about it. ... I don't know," the officer says to Jennings.
The exchange between Jennings and the officer leads to shouting, as Jennings explains to the officers that he has done nothing wrong. He tells the officers: "I told him I'm a pastor. ... You want to lock me up, lock me up. ... Lock me up and see what happens. I want you to."
Jennings, a former police officer himself, is seen on video placed in handcuffs for not providing the officers with his identification.
Following Jennings' arrest and being placed in handcuffs, the neighbor who called authorities about Jennings being a "suspicious person" tells the police officers that she recognizes him.
"He lives right there, and he would be watering their flowers. This is probably my fault," the neighbor tells the police.
But despite the woman telling officers she knows Jennings, he is still arrested and charged.
"This was not only an unlawful arrest. It's kidnapping," Daniels, the attorney, said.
The charges against Jennings were later dismissed by a municipal judge in June.
The Childersburg Police Department did not immediately respond to NPR's request for comment on the issue. NPR reached out to Jennings for an interview, but attorneys representing him told NPR he is not doing any interviews at this time.
Under Alabama law, any officer "may stop any person abroad in a public place" if they suspect that the person is committing or has committed a felony or another public offense — demanding the person's name, address and explanation of actions.
However, attorneys for Jennings said in their statement that "Alabama's Stop and Identify Law did not require Pastor Jennings ... to identify himself because he was not in a public place."
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-30/a-black-pastor-was-watering-his-neighbors-flowers-then-the-police-showed-up | 2022-08-30T11:27:44Z |
Data centers are springing up around the world to handle the torrent of information from the expanding web of devices ingrained in people's lives and the economy. Managing that digital information gusher is big business. It also comes with hidden environmental costs.
For years, companies that operate data centers have faced scrutiny for the huge amounts of electricity they use storing and moving digital information like emails and videos. Now, the U.S. public is beginning to take notice of the water many facilities require to keep from overheating. Like cooling systems in large office buildings, water often is evaporated in data center cooling towers, leaving behind salty wastewater known as blowdown that has to be treated by local utilities.
That reliance on water poses a growing risk to data centers, as computing needs skyrocket at the same time that climate change exacerbates drought. About 20% of data centers in the United States already rely on watersheds that are under moderate to high stress from drought and other factors, according to a paper co-authored last year by Arman Shehabi, a research scientist at Lawrence Berkeley National Laboratory.
Yet relatively few companies have been willing to talk about the issue publicly because of the still-limited attention it gets. Sustainalytics, which assesses risks related to environmental, social and governance (ESG) issues, recently said it looked at 122 companies that operate data centers and found just 16% had disclosed information about their plans for managing water-related risks.
"The reason there's not a lot of transparency, simply put, [is] I think most companies don't have a good story here," says Kyle Myers, a vice president at CyrusOne, a data center company.
The challenge comes down to a basic tradeoff companies face in trying to keep data centers cool, Myers says. They can either consume less water and use more electricity. Or they can use less energy and consume more water.
"Water is super cheap," Myers says. "And so people make the financial decision that it makes sense to consume water."
In addition to their own cooling needs, data centers rely on power plants that often require a lot of water to operate.
Pushback is already emerging
In the United States, there are about 2,600 data centers, many of which are clustered around Dallas, the San Francisco Bay area and Los Angeles, according to a 2021 report by the U.S. International Trade Commission.
All told, a mid-sized data center consumes around 300,000 gallons of water a day, or about as much as 1,000 U.S. households, says Shehabi of Lawrence Berkeley National Laboratory. Their direct, on-site consumption ranks data centers among the top 10 water users in America's industrial and commercial sectors.
Water is "front and center on [the industry's] radar, for sure," says Todd Reeve, CEO of Business for Water Stewardship, which works with companies on water issues.
Recently, some data center companies have faced opposition from communities and water conservationists. In 2015, the city of Chandler, Ariz., passed an ordinance allowing officials to turn down requests for new water uses if they are not aligned with the city's plan for economic development. And in 2019, Google agreed to limit its use of groundwater in South Carolina after a two-year fight with local groups that had raised concerns that aquifers were being depleted.
Companies "are developing tactics and strategies, in some cases changing their ideas and their plans for where they will operate or where they will construct data centers, in large part because of the emerging water issues," Reeve says. However, many companies won't talk about their activities, he says, in part because "this is a new and upcoming issue, [and] our knowledge of water stress is evolving very quickly."
Companies say they're looking for solutions
The impacts of worsening drought are being felt throughout the global economy. Rivers that serve as crucial trade routes in Europe are running low. Factories in China have closed to save water and electricity. And American industries that rely on water from the Colorado River could see their supplies shut off amidst a decades-long drought.
"Which sector is going to get the water? How [is] water going to be prioritized? So, these are the types of considerations, I believe, that will be important to consider more and more in the future," says Kata Molnar, a water expert at Sustainalytics.
Among those in the data center industry willing to speak out are some of the world's biggest tech companies.
Google, Microsoft and Facebook parent Meta have all said they will replenish more water than they consume by 2030. Approaches being considered include working with local water utilities, better recycling of water data centers use and less water-intensive cooling methods.
"Minimizing our water use, being transparent with our water data, and restoring water in high water stress regions are key pillars of our water stewardship program," Meta said in a statement. The company says most of its data centers reduce water consumption by using outdoor air for cooling.
In addition to using new technology, some experts have said companies can reduce their environmental footprint by building data centers in places with plenty of water. For now, however, real estate decisions appear to be primarily dictated by where customers are located.
"When we're siting, we look at the availability of power and we look at water," says Myers of CyrusOne. "But I don't think we're close to a world where we're just going to set up in an area that doesn't have a natural [business] advantage for data centers."
As long as that's the case, the industry will have to innovate its way out of a problem that is only getting worse. In the next decade, Myers says, "water is going to be king."
Reeve of the Business for Water Stewardship insists companies are preparing accordingly, albeit behind the scenes in many cases.
"I do think there's more than just what meets the eye," Reeve says. "There's a lot of innovation in there that just is not fully disclosed or available to the public."
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-30/data-centers-backbone-of-the-digital-economy-face-water-scarcity-and-climate-risk | 2022-08-30T11:27:50Z |
Recently, my truck was stolen, forcing me to get some new wheels. And, for the first time in my life, I've been looking to buy a new car. The process has involved hours of searching. Painful haggling. And encounters with many dealerships that, quite frankly, have been downright duplicitous. The whole thing has been kind of a nightmare.
Cars are, of course, expensive, especially with the supply chain fiasco creating shortages. But it's more than that. Shopping for cars is not like shopping for most other products. Unlike, say, computers or refrigerators, cars are typically not sold for one standard price. Ten people could go into a dealership and each pay a wildly different amount to buy the same exact vehicle.
Economists call this sort of pricing strategy "price discrimination." That's when, instead of charging everyone the same price, sellers charge people different prices based on their willingness to pay. In simpler terms, it means that the seller milks as much money as they can out of you. Not all dealerships engage in this pricing strategy, but many do it aggressively, often with snake oil-style salesmanship, deceptive marketing tactics, hidden fees, and overpriced add-ons, like floor mats, alarm systems, or anti-rust undercoating. Some consumers call the outfits that employ these tactics "stealerships."
The tricky pricing strategy used by dealerships can be maddening for consumers, and I've personally found haggling over the price of a new truck with slick, commission-seeking salespeople to be exhausting (Fortunately, my partner has proved herself to be a talented haggler).
A slew of economic studies has found patterns in who bears the brunt of this pricing strategy. It's not pretty. For example, a number of studies find that dealerships tend to charge people of color more than white folks. Another study finds that older people tend to be charged higher prices than younger people, and that older women tend to be charged the highest price of all.
One study found that dealerships tend to treat a buyer's decision to trade in their used car like a neon sign on their foreheads, flashing, "Charge me more!" That's because trading in your used car, while easier than selling it directly, also fetches less money. Dealerships apparently see this as an indicator that you're either unsavvy or willing to burn cash — so they jack up the price of the car they sell to you. The type of car you trade in also offers a wealth of information on how much they can charge.
In normal times, when supply is ample and dealerships are more worried about getting cars off the lot, it's common for them to charge less than the Manufacturer Suggested Retail Price (MSRP). But with supply-chain problems creating shortages of new vehicles recently, many dealerships have been charging much more than MSRP. Meanwhile, the dealerships that don't add markups to MSRP are seeing their inventory depleted quickly, and often have wait times of months or even years for coveted vehicles.
Michelle Krebs is a longtime automotive researcher who serves as the executive analyst of Cox Automotive, which owns brands like Kelley Blue Book and Autotrader. "This is the first time in my career — and it's a long career — that I've seen most dealerships charging at list price or over," she says. "And it's simply because there's high demand, low inventory, and they can do it." Krebs says she's seen some cases where dealerships have charged buyers literally tens of thousands of dollars over MSRP.
Automakers vs. dealerships
Dealerships are usually independent franchises of their affiliated automaker, which means they are autonomous businesses that can basically do what they want when it comes to setting prices. But many automakers are not happy with their franchises charging crazy high markups. A recent study from the consumer group Growth for Knowledge suggests that excessive price gouging sours consumers on not just a particular dealership, but the car brand as a whole.
At least some automakers know this. Earlier this year, Hyundai Motor Company sent a letter to its dealerships urging them to end deceptive practices, such as advertising a low price online and then charging a much higher price when customers go into the store. The company complained that sky-high markups were "damaging our brands' long-term ability to capture new customers and retain loyal ones."
Likewise, Ford Motor Company urged its dealers to cut down on markups and threatened to cut back on sending them Ford's most coveted vehicles if they didn't. And yet the new Ford F-150 Lightning electric pickup truck and the Ford Bronco are some of the most marked-up vehicles on the market, regularly being priced at much higher levels than what Ford has said they should be sold for. The problem for Ford: dealerships are independent and the Manufacturer Suggested Retail Price is just that, suggested.
Newer automakers like Tesla and Rivian have been trying to build distribution and service networks that jettison the use of independent dealerships. They are building a direct-to-consumer retail model in which consumers custom-design their vehicles on the internet and receive them directly from the manufacturer — without dealership middlemen and exhausting haggling over price with commission-seeking salespeople. For in-person needs, these automakers provide their own dealerships and service centers.
However, there are state franchise laws across the country that protect independent dealerships — and these laws have made it difficult to disrupt the dealership system and offer consumers potentially a better way of buying a vehicle.
A V8 political engine
To be fair to dealerships, they do provide important services. They offer a distribution and service network, which is vital to both manufacturers and car buyers. They offer buyers the ability to check out, test drive, and learn about cars at their facilities, which really do cost a lot when it comes to real estate, inventory, and manpower. If the manufacturer recalls something, there are thousands of local dealerships across the nation there to fix the problem. They also, of course, create tons of jobs in local communities.
But, while having a sprawling network of local dealerships may be valuable, this geographic reach also gives them outsized political power. Spread out all over the place, local dealerships are important constituents for a whole slew of federal, state, and local politicians. That — together with the fact that they're a trillion-dollar-plus industry — makes them an effective lobbying force. And opponents argue that the protective franchise laws they've worked to erect and maintain thwart entrepreneurs' ability to create new, more efficient business models that better serve consumers.
We reached out to the National Automobile Dealers Association (NADA), which represents more than 16,000 dealerships across America, and they provided a statement. "State legislatures passed franchise laws — and continue to overwhelmingly support franchise laws — to separate car sales from manufacturing, prevent monopoly pricing by factories, promote competition in auto sales and service, and keep jobs and investment local," says NADA Vice President of Communications Jared Allen. "The franchise system delivers these tremendous benefits better than anyone."
Some of these claims — like the fact that local dealerships create jobs — are undeniable. Others are highly debatable. First of all, there are more than a dozen automakers in the United States, so no single carmaker comes close to being a monopoly. And it's not clear how adding a middleman to the process reduces prices for consumers, especially when you consider that this middleman often resorts to a slew of tactics that tends to raise prices. Many of these dealerships, by the way, are not mom-and-pop shops; the industry is seeing growing consolidation, with multibillion-dollar corporations now owning hundreds of dealerships across the nation.
For years, the Federal Trade Commission (FTC), the agency tasked with looking out for American consumers, has advocated relaxing state franchise laws so that companies like Tesla or Rivian can create new, direct-to-consumer business models. "States should allow consumers to choose not only the cars they buy, but also how they buy them," FTC officials wrote in 2015. But franchise laws continue to protect the dealership model and thwart innovation.
Earlier this summer, the FTC proposed new rules aimed at combating the graft and skullduggery found at many dealerships. "As auto prices surge, the Commission is seeking to eliminate the tricks and traps that make it hard or impossible to comparison shop or leave consumers saddled with thousands of dollars in unwanted junk charges," the FTC said.
The new rules the FTC proposes include a ban on deceptive advertising in which dealerships market cars as way cheaper than they actually intend to sell them for; a ban on "junk fees for fraudulent add-on products and services that provide no benefit to the consumer"; and a requirement that dealerships disclose upfront all costs and conditions for buying their vehicles.
NADA, not surprisingly, opposes these proposed rules. "The FTC's proposed rules would cause great harm to consumers by significantly extending transaction times, making the customer experience much more complex and inefficient, and increasing prices, and NADA again urges the FTC to go back to the drawing board before forcing implementation of a series of unstudied and untested mandates that will have such significant negative impacts on customers," says NADA Vice President of Communications Jared Allen.
Buying a car in this bonkers market
We asked Michelle Krebs, the longtime automobile industry analyst, if she had any advice for me — and, more importantly, you, our cherished Planet Money newsletter readers — about buying a car in this bonkers, supply-constrained market. "I always say pack your patience and persistence," Krebs says. "You have to keep looking, keep shopping. You have to be flexible on your choice. You may not get the brand or car style you want. And, importantly, expand your geographic search. Most people don't want to shop more than 25 miles away, but you may need to go farther than that."
In trying to find my new truck, I spent hours searching online and corresponding with dozens of dealerships located up and down the West Coast and farther inland. I found some trucks that were literally priced $10,000-$15,000 over MSRP, and I encountered many of the shady business practices that the FTC is now trying to ban. I also found honest, "no haggle" dealerships willing to sell the truck at MSRP. The catch: I'd be forced to wait at least six months for a truck from them to arrive, and with the theft of my old truck leaving me without a vehicle, I didn't have that kind of patience.
Luckily, my partner ended up finding the exact truck I wanted, located more than 400 miles away, in Southern California, near her parents' house. The dealership initially wanted $5,000 over MSRP. But thanks to her fierce negotiations (she's a lawyer), we were able to talk them down to only $2,000 over. In normal times, that would be a rip-off. But these are not normal times.
Anyways, at least I have a truck again — and, unlike the last one, this one has an immobilizer that might prevent it from being stolen.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-30/inside-the-rise-of-stealerships-and-the-shady-economics-of-car-buying | 2022-08-30T11:27:57Z |
Man breaks Guinness record for longest journey by pumpkin boat NPR Published August 30, 2022 at 5:10 AM MDT Facebook Twitter LinkedIn Email Flipboard Listen • 0:28 Duane Hansen grew an 800 pound pumpkin, hollowed it out and paddled it down the Mississippi river. Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-30/man-breaks-guinness-record-for-longest-journey-by-pumpkin-boat | 2022-08-30T11:28:03Z |
A rocket company is carrying some of her ashes and the remains of at least three others associated with the show to space on the Enterprise Flight.
Copyright 2022 NPR
A rocket company is carrying some of her ashes and the remains of at least three others associated with the show to space on the Enterprise Flight.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-30/star-trek-actress-nichelle-nichols-remains-are-headed-for-the-stars | 2022-08-30T11:28:10Z |
NPR's Leila Fadel talks with former International Atomic Energy Agency official Olli Heinonen (OH-lee HAY-noh-nen) about the IAEA mission to Ukraine to inspect Europe's largest nuclear plant.
Copyright 2022 NPR
NPR's Leila Fadel talks with former International Atomic Energy Agency official Olli Heinonen (OH-lee HAY-noh-nen) about the IAEA mission to Ukraine to inspect Europe's largest nuclear plant.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-30/the-international-atomic-energy-agency-is-on-a-risky-mission-in-ukraine | 2022-08-30T11:28:16Z |
2 die in storm-related mishaps in Ohio, Michigan
TOLEDO, Ohio (WTVG/Gray News) - Two people died as storms rolled through the area on Monday.
A woman is dead after a tree fell on her during Monday night’s storms in Toledo, officials confirmed. It happened around 6:30 p.m. Monday, WTVG reported.
“Crews responded a short time later and found that there was an adult patient underneath the tree, and unfortunately that patient had succumbed to their injuries and was declared deceased,” says Toledo Fire and Rescue Fire Chief Allison Armostory.
It’s unclear at this time exactly where the woman was when the tree came down.
In Monroe, Michigan, a 14-year-old girl died after touching a downed electrical line in her backyard, police said.
Multiple emergency agencies responded to the scene Monday. Police said the girl was still in contact with the energized electrical line when first responders arrived at the scene.
DTE Energy crews disconnected the power lines so first responders could help the girl, but she died by the time the scene was safe.
According to Monroe Police detectives, the girl was walking with a friend in her backyard when they believed they could “smell a bonfire.”
The victim reached for what she believed was a stick when she was electrocuted by a charged electrical line.
The safety department said it is working to support the families of the victim.
Copyright 2022 WTVG via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/08/30/2-die-storm-related-mishaps-ohio-michigan/ | 2022-08-30T11:29:32Z |
Northbound I-81 closed in Augusta County near mile marker 211
Officials stated both northbound lanes will remain closed until hazmat clean up is finished.
AUGUSTA COUNTY, Va. (WHSV) - The Virginia Department of Transportation is reporting a hazardous materials spill near mile marker 211 around the Greenville.
Officials stated the incident was reported around 4 a.m. and both northbound lanes will remain closed until hazmat clean up is finished.
“Northbound I-81 traffic is detoured at exit 200 (Fairfield) in Rockbridge County. Drivers will follow Route 710 (Sterrett Road) east and then Route 11 north into Augusta County for about 13 miles, and rejoin I-81 northbound at exit 213,” the press release reads.
The agency advises drivers to expect major delays in southern Augusta County and northern Rockbridge County and avoid the area if possible.
Visit 511virginia.org or call 511 for updated traffic information.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/08/30/northbound-i-81-closed-augusta-county-near-mile-marker-211/ | 2022-08-30T11:29:34Z |
Student loan relief limited for many by US drug war’s legacy
(AP) - President Joe Biden says he hopes his proposal to forgive federal student loans will narrow the nation’s racial wealth gap. But a generation of Black and Hispanic Americans was disproportionately shut out of one of the keys to Biden’s plan: the Pell Grant program.
As part of the “war on drugs” — a consequential, anti-crime legislative agenda that Biden championed as a U.S. senator — an estimated hundreds of thousands of convicted drug offenders had their access to federal financial aid delayed or denied, including Pell Grants and student loans. If they wanted to go to college after their prison terms ended, these offenders had to take on larger, often predatory, private student loans.
Some were discouraged from seeking federal aid by a requirement to disclose their drug record on financial aid applications, while others put off attending college or dropped out entirely.
The people most harmed by these policies: Black and Latino men, thanks to drug laws in the 1990s with harsh punishments for crack cocaine and marijuana offenses. Incarceration rates for men of color skyrocketed. The policies remained in place for 25 years, until Congress repealed the Pell Grant ban in 2020.
America’s student loan debt burden, which now tops $1.6 trillion, “is especially heavy on Black and Hispanic borrowers, who on average have less family wealth to pay for it,” Biden said last week as he announced the forgiveness plan.
The administration has offered to forgive up to $10,000 in student debt for individuals earning annual incomes of less than $125,000, or less than $250,000 for families. And its offer doubles the debt relief to $20,000 for borrowers who also received Pell Grants, a federal program that gives the neediest undergraduates aid that they don’t have to repay.
Studies show that Pell Grants — one of the nation’s most effective financial aid programs — routinely help more than half of Black students and almost half of Hispanic students afford college. According to the White House, among the 43 million borrowers who are eligible for debt relief under Biden’s plan, more than 60% are Pell Grant recipients.
The White House said in a statement to The Associated Press that the student debt relief plan will wipe away about half of the average debt held by Black and Hispanic borrowers, not counting the additional $10,000 cancellation for Pell Grant recipients.
Amid debate over whether Biden’s forgiveness plan goes far enough for disproportionately indebted communities, criminal justice reform advocates say the president’s solutions to the student debt crisis must be as comprehensive as the anti-drug laws were.
“I think there’s a particular onus on this administration and on this president to be part of the solution for issues that he was very deeply involved in,” said Melissa Moore, the director of civil systems reform at Drug Policy Alliance.
There’s a generation of former drug offenders who borrowed to pay for school, but don’t have Pell Grants or federal loans, and won’t have any of their student debt forgiven. According to a Student Borrower Protection Center report on private loan debt, Black students are four times as likely as white students to struggle in repayment of private loans.
“For people who previously would have had to check that box, there should be some mechanism by which, if you were excluded in the past, you are prioritized now for relief,” Moore said.
An AP review last year of federal and state incarceration data showed that, between 1975 and 2019, the U.S. prison population jumped from 240,593 to 1.43 million Americans, as a result of the war on drugs that President Richard Nixon declared in 1971. About 1 in 5 people were incarcerated with a drug offense listed as their most serious crime.
Nixon’s Democratic and Republican presidential successors would go on to leverage drug war policies, responding to an alarming national surge in violent crime linked to the illegal drug trade, cementing the drug war’s legacy.
Following the passage of stiffer state and federal penalties for crack cocaine and other drugs, the incarceration rates for Black and Hispanic Americans tripled between 1970 and 2000. By comparison, the white incarceration rate only doubled in that same timespan.
Biden’s Violent Crime Control and Law Enforcement Act of 1994 put in place the ban on Pell Grants and other federal financial aid for people incarcerated in federal or state prison. However, then-Sen. Biden reportedly opposed the amendment that added the ban to his bill. At the time, his spokesperson said Biden believed education programs could break the cycle of recidivism among formerly incarcerated individuals.
Ultimately, Biden worked passionately to pass the crime bill he sponsored. Academic programs in federal and state prisons, which had been robust, dwindled severely nationwide.
Later, in 1998, Congress expanded the ban to exclude any student with a state or federal drug conviction from receiving Pell Grants and federal student loans, for as little as one year or indefinitely, depending on the number of convictions. Biden voted in favor of the measure, although his opinion on the Pell Grant provision was unclear.
In just the five years after the expanded ban took effect, the measure cost more than 140,000 would-be college students between $41 million and $54 million in Pell Grants per year, and between $100 million and $164 million in federal student loans per year, according to an estimate by the federal Government Accountability Office.
However, in 2006, Congress changed the ban on grants to drug offenders. It applied only to students whose convictions happened while they were receiving federal student aid, narrowing its effect significantly, although experts say the law still forced hundreds of enrolled students to drop out of college when they lost their aid. The ban on Pell Grants for incarcerated individuals was fully repealed when Congress passed the omnibus spending and COVID-19 relief legislation in December 2020.
Drug convictions no longer affect a student’s financial aid eligibility, although the question still appears on the Free Application for Federal Student Aid, or FAFSA. In April, the U.S. Department of Education expanded its Second Chance Pell Program, which provides grants to incarcerated students to help them enroll in academic programs. A further expansion of Pell Grants to incarcerated students begins in July 2023, according to the Department of Education.
For DeAnna Hoskins, the legacy of the war on drugs nearly cost her much-need Pell Grants and student loans. She attended college after her incarceration and, by happenstance, just after Congress lifted the ban on aid to people with drug convictions.
“The ‘94 crime bill was so comprehensive in the destruction that it did,” said Hoskins, the president of JustLeadershipUSA, a criminal justice reform group. She questions how Biden’s debt relief plan was crafted. “I feel like you’re piecemealing our liberation back to us.”
There are tens of thousands of people who had to get private student loans at high interest rates, because of the ban on Pell Grants, Hoskins added.
“This is why it’s so important, when decisions like this are being made, that the voices of people with lived experiences are present,” she said. “We can help you obtain the equity you’re seeking.”
___
Associated Press news researcher Rhonda Shafner contributed.
___
Aaron Morrison is a New York City-based national writer for the AP’s Race and Ethnicity team. Follow him on Twitter: https://www.twitter.com/aaronlmorrison.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/30/student-loan-relief-limited-many-by-us-drug-wars-legacy/ | 2022-08-30T11:29:35Z |
Storms blamed in deaths of 3
TOLEDO, Ohio (WTVG/Gray News) - Severe storms that brought damaging winds, heavy rains and flash flooding to parts of the Midwest and the South on Monday are being blamed for the deaths of three people.
A woman is dead after a tree fell on her during Monday night’s storms in Toledo, officials confirmed. It happened around 6:30 p.m. Monday, WTVG reported.
“Crews responded a short time later and found that there was an adult patient underneath the tree, and unfortunately that patient had succumbed to their injuries and was declared deceased,” says Toledo Fire and Rescue Fire Chief Allison Armostory.
It’s unclear at this time exactly where the woman was when the tree came down.
In Monroe, Michigan, a 14-year-old girl died after touching a downed electrical line in her backyard, police said.
Multiple emergency agencies responded to the scene Monday. Police said the girl was still in contact with the energized electrical line when first responders arrived at the scene.
DTE Energy crews disconnected the power lines so first responders could help the girl, but she died by the time the scene was safe.
According to Monroe Police detectives, the girl was walking with a friend in her backyard when they believed they could “smell a bonfire.”
The victim reached for what she believed was a stick when she was electrocuted by a charged electrical line.
The safety department said it is working to support the families of the victim.
Authorities in Arkansas said an 11-year-old boy died after he was swept into a storm drain during heavy rainfall Monday, the Associated Press reported.
A 47-year-old woman who tried to help the child was also pulled from the drain and taken to a hospital for treatment, according to police in Bentonville.
Copyright 2022 WTVG via Gray Media Group, Inc. All rights reserved. The Associated Press contributed to this report. | https://www.wvva.com/2022/08/30/2-die-storm-related-mishaps-ohio-michigan/ | 2022-08-30T11:42:27Z |
Biden to talk crime, gun control in swing state Pennsylvania
WASHINGTON (AP) — President Joe Biden is ready to talk up his crime prevention plans during a visit to Pennsylvania, where Democrats and Republicans are looking for ways to gain leverage on the issue ahead of November’s midterm elections.
The White House said Biden will use his Tuesday visit to call out Republicans for opposing his proposal to restore a ban on assault-style weapons.
Both parties worked together in a rare effort to pass bipartisan gun safety legislation earlier this year after massacres in Buffalo, New York, and Uvalde, Texas, but Biden has repeatedly said more needs to be done.
As a U.S. senator, Biden played a leading role in temporarily banning assault-style weapons, including firearms similar to the AR-15 that have exploded in popularity in recent years, and he wants to put the law back into place.
“A majority of Americans support this ... the NRA opposes it,” White House press secretary Karine Jean-Pierre said Monday. “So we’re going to hear from the president about the importance of making sure we protect our communities.”
Biden’s speech at Wilkes University in Wilkes-Barre comes as Democrats try to blunt Republican efforts to use concern about crime to their advantage in the midterms.
It’s a particularly fraught issue in Pennsylvania, a key swing state where a U.S. Senate seat and the governor’s office are up for grabs.
The Republican candidate for governor, Doug Mastriano, accuses Democrat Josh Shapiro of being soft on crime as the state’s twice-elected attorney general, saying at one recent event that crime has gone up on his opponent’s watch and that Shapiro “stands aside” as homicides rise across Pennsylvania.
Homicides have been increasing in Pennsylvania, but overall crime seems to have fallen over the last year, according to state statistics.
As attorney general since 2017, Shapiro has toured the state discussing the need to crack down on gun trafficking and ghost guns, and to recruit more police officers. Last December, he said that state agents and Philadelphia police officers working together had reduced the number of shootings in areas that were confronting gun violence related to drug trafficking.
Shapiro plans to attend Tuesday’s event with Biden.
The Republican U.S. Senate nominee, heart surgeon turned television celebrity Dr. Mehmet Oz, has tried to portray the Democratic candidate, Lt. Gov. John Fetterman, as extreme and reckless on crime policy.
Fetterman has endorsed recommendations that more geriatric and rehabilitated prisoners can be released from state prisons without harming public safety. Oz and Republicans have distorted that into the claim that Fetterman wants to release “dangerous criminals” from prisons or that he’s in favor of “emptying prisons.”
Fetterman does not plan to be in Wilkes-Barre with Biden, but he’s expected to march in Pittsburgh’s Labor Day parade when the president visits Monday. Biden also will be in Pennsylvania on Thursday for a prime-time speech that the White House said will address “the continued battle for the soul of the nation” and defending democracy.
It’s unclear whether crime will end up as a pivotal issue in November.
Only 11% of U.S. adults named crime or violence as one of the top five issues they consider most important for the government to work on in the next year, according to an AP-NORC poll conducted in June. That’s unchanged since December, and it’s well below the percentage naming many of the other top issues for Americans.
Biden has tried to balance his approach to crime by acknowledging voters’ fears and praising law enforcement, but also urging more accountability for officers.
He’s rejected the activist slogan “defund the police,” which Republicans have used as a cudgel against Democrats in general, by calling for more money for cops.
Jean-Pierre said Monday that Biden will speak in Wilkes-Barre about the “simple basic notion that when it comes to public safety in this nation, the answer isn’t to defund the police, but to fund the police.”
Biden also plans to talk about the Jan. 6 attack on the U.S. Capitol and the role that law enforcement played in defending Congress. He previously focused on that issue in a virtual address to the National Organization of Black Law Enforcement Executives on July 25.
“The police were heroes that day,” he said. “Donald Trump lacked the courage to act. The brave women and men in blue all across this nation should never forget that. You can’t be pro-insurrection and pro-cop.”
Biden’s trip to Wilkes-Barre was originally scheduled for July 21 but was cancelled when the president contracted COVID-19 and went into isolation while he was contagious.
Biden has laid out a $37 billion plan for addressing crime and boosting law enforcement resources. He wants Congress to spend $13 billion to help communities hire and train 100,000 police officers over five years. Another $3 billion would go to clearing court backlogs and resolving cases involving murders and guns, and $5 billion more would go to support programs that could help stop violence before it occurs.
In addition, Biden is looking for $15 billion to provide grants to initiatives for preventing violent crime or creating public health responses to nonviolent incidents.
___
Levy reported from Harrisburg, Pa. Associated Press writer Emily Swanson contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/30/biden-talk-crime-gun-control-swing-state-pennsylvania/ | 2022-08-30T11:42:33Z |
Musk cites whistleblower as more reason to exit Twitter deal
(AP) - Tesla CEO Elon Musk has again filed paperwork to terminate his agreement to buy Twitter, this time based on information in a whistleblower complaint filed by Twitter’s former head of security.
In an SEC filing Tuesday, Musk said his legal team notified Twitter of “additional bases” for ending the deal on top of the ones given in the original termination notice issued in July.
In a letter to Twitter Inc., which was included in the filing, Musk’s advisors cited the whistleblower report by former executive Peiter Zatko — also known by his hacker handle “Mudge.”
Zatko, who served as Twitter’s head of security until he was fired early this year, alleged in his complaint to U.S. officials that the company misled regulators about its poor cybersecurity defenses and its negligence in attempting to root out fake accounts that spread disinformation
The letter, addressed to Twitter’s Chief Legal Officer Vijaya Gadde, said Zatko’s allegations provide extra reasons to end the deal if the July termination notice “is determined to be invalid for any reason.”
Billionaire Musk has spent months alleging that the company he agreed to acquire undercounted its fake and spam accounts, which means he doesn’t have to go through with the $44 billion deal. Musk’s decision to back out of the transaction sets the stage for a high-stakes legal battle in October.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/30/musk-cites-whistleblower-more-reason-exit-twitter-deal/ | 2022-08-30T11:42:40Z |
Student loan relief limited for many by US drug war’s legacy
(AP) - President Joe Biden says he hopes his proposal to forgive federal student loans will narrow the nation’s racial wealth gap. But a generation of Black and Hispanic Americans was disproportionately shut out of one of the keys to Biden’s plan: the Pell Grant program.
As part of the “war on drugs” — a consequential, anti-crime legislative agenda that Biden championed as a U.S. senator — an estimated hundreds of thousands of convicted drug offenders had their access to federal financial aid delayed or denied, including Pell Grants and student loans. If they wanted to go to college after their prison terms ended, these offenders had to take on larger, often predatory, private student loans.
Some were discouraged from seeking federal aid by a requirement to disclose their drug record on financial aid applications, while others put off attending college or dropped out entirely.
The people most harmed by these policies: Black and Latino men, thanks to drug laws in the 1990s with harsh punishments for crack cocaine and marijuana offenses. Incarceration rates for men of color skyrocketed. The policies remained in place for 25 years, until Congress repealed the Pell Grant ban in 2020.
America’s student loan debt burden, which now tops $1.6 trillion, “is especially heavy on Black and Hispanic borrowers, who on average have less family wealth to pay for it,” Biden said last week as he announced the forgiveness plan.
The administration has offered to forgive up to $10,000 in student debt for individuals earning annual incomes of less than $125,000, or less than $250,000 for families. And its offer doubles the debt relief to $20,000 for borrowers who also received Pell Grants, a federal program that gives the neediest undergraduates aid that they don’t have to repay.
Studies show that Pell Grants — one of the nation’s most effective financial aid programs — routinely help more than half of Black students and almost half of Hispanic students afford college. According to the White House, among the 43 million borrowers who are eligible for debt relief under Biden’s plan, more than 60% are Pell Grant recipients.
The White House said in a statement to The Associated Press that the student debt relief plan will wipe away about half of the average debt held by Black and Hispanic borrowers, not counting the additional $10,000 cancellation for Pell Grant recipients.
Amid debate over whether Biden’s forgiveness plan goes far enough for disproportionately indebted communities, criminal justice reform advocates say the president’s solutions to the student debt crisis must be as comprehensive as the anti-drug laws were.
“I think there’s a particular onus on this administration and on this president to be part of the solution for issues that he was very deeply involved in,” said Melissa Moore, the director of civil systems reform at Drug Policy Alliance.
There’s a generation of former drug offenders who borrowed to pay for school, but don’t have Pell Grants or federal loans, and won’t have any of their student debt forgiven. According to a Student Borrower Protection Center report on private loan debt, Black students are four times as likely as white students to struggle in repayment of private loans.
“For people who previously would have had to check that box, there should be some mechanism by which, if you were excluded in the past, you are prioritized now for relief,” Moore said.
An AP review last year of federal and state incarceration data showed that, between 1975 and 2019, the U.S. prison population jumped from 240,593 to 1.43 million Americans, as a result of the war on drugs that President Richard Nixon declared in 1971. About 1 in 5 people were incarcerated with a drug offense listed as their most serious crime.
Nixon’s Democratic and Republican presidential successors would go on to leverage drug war policies, responding to an alarming national surge in violent crime linked to the illegal drug trade, cementing the drug war’s legacy.
Following the passage of stiffer state and federal penalties for crack cocaine and other drugs, the incarceration rates for Black and Hispanic Americans tripled between 1970 and 2000. By comparison, the white incarceration rate only doubled in that same timespan.
Biden’s Violent Crime Control and Law Enforcement Act of 1994 put in place the ban on Pell Grants and other federal financial aid for people incarcerated in federal or state prison. However, then-Sen. Biden reportedly opposed the amendment that added the ban to his bill. At the time, his spokesperson said Biden believed education programs could break the cycle of recidivism among formerly incarcerated individuals.
Ultimately, Biden worked passionately to pass the crime bill he sponsored. Academic programs in federal and state prisons, which had been robust, dwindled severely nationwide.
Later, in 1998, Congress expanded the ban to exclude any student with a state or federal drug conviction from receiving Pell Grants and federal student loans, for as little as one year or indefinitely, depending on the number of convictions. Biden voted in favor of the measure, although his opinion on the Pell Grant provision was unclear.
In just the five years after the expanded ban took effect, the measure cost more than 140,000 would-be college students between $41 million and $54 million in Pell Grants per year, and between $100 million and $164 million in federal student loans per year, according to an estimate by the federal Government Accountability Office.
However, in 2006, Congress changed the ban on grants to drug offenders. It applied only to students whose convictions happened while they were receiving federal student aid, narrowing its effect significantly, although experts say the law still forced hundreds of enrolled students to drop out of college when they lost their aid. The ban on Pell Grants for incarcerated individuals was fully repealed when Congress passed the omnibus spending and COVID-19 relief legislation in December 2020.
Drug convictions no longer affect a student’s financial aid eligibility, although the question still appears on the Free Application for Federal Student Aid, or FAFSA. In April, the U.S. Department of Education expanded its Second Chance Pell Program, which provides grants to incarcerated students to help them enroll in academic programs. A further expansion of Pell Grants to incarcerated students begins in July 2023, according to the Department of Education.
For DeAnna Hoskins, the legacy of the war on drugs nearly cost her much-need Pell Grants and student loans. She attended college after her incarceration and, by happenstance, just after Congress lifted the ban on aid to people with drug convictions.
“The ‘94 crime bill was so comprehensive in the destruction that it did,” said Hoskins, the president of JustLeadershipUSA, a criminal justice reform group. She questions how Biden’s debt relief plan was crafted. “I feel like you’re piecemealing our liberation back to us.”
There are tens of thousands of people who had to get private student loans at high interest rates, because of the ban on Pell Grants, Hoskins added.
“This is why it’s so important, when decisions like this are being made, that the voices of people with lived experiences are present,” she said. “We can help you obtain the equity you’re seeking.”
___
Associated Press news researcher Rhonda Shafner contributed.
___
Aaron Morrison is a New York City-based national writer for the AP’s Race and Ethnicity team. Follow him on Twitter: https://www.twitter.com/aaronlmorrison.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/30/student-loan-relief-limited-many-by-us-drug-wars-legacy/ | 2022-08-30T11:42:47Z |
Widespread rain and storms are expected today
Some storms may turn strong to severe with damaging winds and heavy rainfall
Today will bring on and off showers and thunderstorms throughout the day as a cold front moves in. With more clouds and rain around, we should be slightly cooler, with highs in the mid 70s to low 80s for most.
We are under a marginal (1/5) risk for severe weather so widespread issues are not expected, but a few isolated severe storms with gusty winds, heavy rain, and small hail will still be possible, especially this afternoon. Localized flooding issues cannot be ruled out with locally heavy downpours on occasion. Stay weather aware!
Rain will gradually fade overnight, and low temperatures will be slightly cooler behind the departing front, in the 50s and low 60s for most.
Wednesday looks dry, with plenty of sunshine and low humidity! Temperatures will be in the mid-upper 70s for most. Wednesday night will be cool and dry with lows in the 50s for most. The majority of the work week is looking dry, but we could see some rain return at times by this weekend. Make sure to stay tuned and catch the latest on WVVA.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/08/30/widespread-rain-storms-are-expected-today/ | 2022-08-30T11:42:54Z |
Gulf Coast Bank & Trust Company Acquires Minnesota-Based KLC Financial
NEW ORLEANS – Gulf Coast Bank & Trust Company announced it has acquired the assets of KLC Financial Inc. and KLC Capital Partners LLC. Founded in 1987 and located in Minnetonka, Minn., the company provides specialized lease solutions for vendors and commercial businesses nationwide.
“We are excited to welcome KLC to the Gulf Coast Bank & Trust Company family of companies. KLC will continue its existing leasing programs but will now have additional resources and reach that will enable it to serve even more customers across the United States,” said Gulf Coast Bank President and CEO Guy Williams in a press release. “The strong KLC management team will remain in place and will continue to manage its operations. There will be no layoffs as a result of this transaction. Instead, KLC will be looking for additional employees to help with its expansion. The integrity and work ethic of the KLC team make it a perfect fit for us at Gulf Coast Bank.”
The acquisition was effective Aug. 10. KLC’s business operations remain intact.
“We are pleased to have forged this partnership with Gulf Coast Bank and view it as a natural progression for our team, customers, vendors and our strategies,” said KLC Chairman Marc Keepman. “This new alliance will allow us to preserve the strong culture we have built with our team.”
With over $3 billion in assets, Louisiana-based Gulf Coast Bank & Trust Company serves its business and personal banking clients through its bank branches, loan production offices, trust and investment offices and business credit offices. Gulf Coast Bank & Trust Company has 38 locations in eight states that include 19 bank branches across Southeast Louisiana. | https://www.bizneworleans.com/gulf-coast-bank-trust-company-acquires-minnesota-based-klc-financial/ | 2022-08-30T12:18:09Z |
Julie Laperouse Joins Advantage Capital
NEW ORLEANS & ST. LOUIS — Advantage Capital announced the continued expansion of its senior leadership team with the addition of industry veteran Julie Laperouse as chief talent officer. With two decades of experience helping companies and clients create meaningful corporate cultures and establish strong, strategic people pipelines, Laperouse will lead the human resources strategy for the growing venture capital firm, small business lender and impact investor.
“We are excited to bring on a dynamic leader like Julie to help shape the future of our firm,” said Ryan Brennan, managing director, Advantage Capital. “Julie shares our commitment to diversity, inclusion, coaching, and ensuring we attract and retain the next generation of leaders to accelerate our ability to push the impact investing envelope.”
Laperouse comes to Advantage Capital from Gulf Coast Bank and Trust Company where she was director of culture and talent for a team of more than 800 employees. She also served as managing director of training at Emergent Method, a management consulting firm focused on helping organizations achieve their mission. As director of talent development for the Baton Rouge Area Chamber of Commerce, Laperouse assisted local businesses in the attraction and retention of talent including executive recruitment and recruiting program development
Laperouse holds a B.A. from Louisiana State University. She serves on the Emerging Leaders Council of the Louisiana Association of Business and Industry and runs the Alliance, a networking consortium of professional women. In 2017, the Baton Rouge Business Report named Laperouse to the list of Most Influential Women in Business. | https://www.bizneworleans.com/julie-laperouse-joins-advantage-capital/ | 2022-08-30T12:18:15Z |
Some California drivers got a saucy surprise in their Monday morning commute after a truck hit the center divider on Interstate 80 between San Francisco and Sacramento, Calif., slathering several lanes in quickly crushed tomatoes.
Sacramento's KTVU TV news reported that the accident, which happened around 5 a.m. local time near Vacaville, caused heavy traffic but no injuries. It took several hours for state Department of Transportation workers to clear and reopen all lanes of the highway, the California Highway Patrol said.
The mess teed up some food humor, at least for those not caught in the tomato traffic jam. "Get the chips, oh wait you are already there," one Internet commenter wrote, referencing the nickname for the CHP's officers.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-30/a-tomato-spill-makes-a-major-california-highway-a-marinara-mess | 2022-08-30T13:01:18Z |
The Biden administration announced last Wednesday that it would be forgiving up to $20,000 in undergraduate student loans.
Some borrowers have already seen their accounts updated, but others will have to apply for the benefit in October.
That amount may not clear the accounts for all, though, and scammers may be on the prowl promising to help eliminate any remaining debt.
Do not pay any up-front fees
It is illegal for student debt relief companies to charge you before administering a service, the Federal Trade Commission says.
Don't sign up for quick loan forgiveness
Anyone who guarantees your eligibility for student loan forgiveness or promises they can get your loans forgiven faster than the timeline the Department of Education has laid out is a scammer.
Don't always trust a Department of Education logo
Scammers may use logos, names and seals to persuade you of their legitimacy. But if you have questions about your federal loans, visit the Department of Education's official financial website at https://studentaid.gov/.
Don't be rushed into a decision
Scammers will often make requests that are supposedly time-sensitive — such as missing a deadline to qualify for repayment plans, loan forgiveness programs or federal loan consolidations — in an effort to make you act quickly.
Never share your Federal Student Aid ID
Scammers may ask for your FSA ID in an effort to steal your identity, but you should never share your account credentials.
How to get your money back if you paid a scammer
Scammers might urge you to pay them in ways that make it harder to get your money back, but there are some steps you can take depending on the payment method you used.
How to report a scam
You can report scams to the FTC at ReportFraud.ftc.gov or your state's attorney general.
What if my devices and personal information were compromised?
If you gave the scammer personal information, such as your Social Security number, visit IdentityTheft.gov. If you shared login information, update your passwords with a secure combination of uppercase and lowercase letters, numbers and symbols.
If a scammer has access to your computer, update the device's security software, run a scan and get rid of any files that could give away too much information.
If your cell phone is compromised, contact your provider and check your bank statements for any unauthorized transactions.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-30/how-to-stay-protected-from-student-loan-scammers-on-the-prowl | 2022-08-30T13:01:24Z |
When discussing the current and future impacts of climate change, the biggest and most visible events like floods and storms may come to mind.
But a new study published this month in the journal Nature reveals that rising temperatures, as well as things like droughts and wildfires, may have a connection with the spread of diseases, including COVID-19.
Camilo Mora is a climate scientist at the University of Hawaii, and is one of the authors of the study that examines the implications of these microscopic shifts.
Mora joined All Things Considered to break down his findings and what this could mean for the future.
This interview has been lightly edited for length and clarity
Interview Highlights
On the link between climate change and diseases
It turns out that just like you and me, every time that we get impacted by one of these climatic hazards, that are becoming more common — a heat wave, a wildfire or whenever there is a flood — all of those things are related to the increasing amount of greenhouse gasses. Just like us, it turns out that many of those species that are damaging to us are also reacting to it.
And what is happening is that there are many ways in which climate change is actually forcing these species to get into contact with us. By increasing those contacts, it turns out that the amount of pathogens that are in the wild, are having a higher chance to come in and make us all sick. What we did in this paper was quantify the magnitude of how big of a deal this is.
One example of this is to imagine that in the middle of the jungle, in the middle of nowhere, there is a bat. That bat obviously has their own pathogens that have been accumulating for hundreds of years. But they are over there and we are over here. So there is never really any contact. There is no risk for us from that bat. Now imagine we are producing greenhouse gasses. We produce a lot of heat. With that heat comes drought and with that drought come wildfires.
Now this bat that was in the middle of the jungle, creating no pain for us, has to fly around to find food, water and sometimes a habitat by flying farther away. Sometimes it comes into contact with us. And that single moment when the animal with that pathogen gets in contact with us is called a spillover. That's it. I mean, it unleashes an incredible amount of human suffering. For instance, what happened with COVID-19.
On if climate change may also limit diseases
It's interesting because, in fact, we found several diseases to be reduced in impact by climate change. But the greater majority [of diseases], 58% of them, can make us sick in 1,000 different ways, and make these diseases worse.
We found that 60% of [diseases] at times can stop being a problem. An example could be drought. In some cases, the lack of water prevents the creation of mosquitoes. And in some places you reduce all of the diseases that are transmitted by mosquitoes. However, there were certain cases in which drought actually makes the diseases from mosquitoes worse, because there is not a lot of water. The limited amount of water that was there is where the mosquitoes will want to reproduce, and so [that water will attract] all of the species that are also around, trying to look for water. So basically it works as a magnet, these little reservoirs of water, for all kinds of pathogens and mosquitoes.
On a potential link between climate change and diseases like Monkeypox and COVID
Oh, the connection is right there. It's just mind blowing. And in fact, I lived it. I came for a holiday in Colombia. And I think I'm a strong guy and, you know, Colombians, we like to feel like we are jungle guys. I refused to use mosquito repellent and I got bitten by a mosquito, but I didn't know that the mosquito had Chikungunya, and I got infected with this disease.
My skin was awful, I blistered there for a week, and it's painful to this day. I had the pain of this on my joints. I came to discover as I was doing this paper, that the reason why that outbreak was happening was because there was so much rain all over South America that it just created these infected mosquitoes all around the world. And it just happened that the Chikungunya, which was pretty rare, in a very remote place with so many mosquitoes, [had reached me].
On the real life pressure of these findings
For me it's shocking, you know, reading all these different papers, and then realizing and putting these things into context, like, "Wow, this thing was there right in front of our faces?" I have to tell you that the motivation for us to do this paper was to see if climate change had something to do with the outbreak of COVID-19. I can tell you up front that we just don't know yet, but what I can tell you after doing this work is that there are at least 20 different ways in which COVID-19 could have been caused by climate change. And that, for me, is the worrisome thing. You know, regardless of whether it is now, climate change has at least 20 different ways in which it can create things as bad as COVID-19.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-30/why-climate-change-may-be-driving-more-infectious-diseases | 2022-08-30T13:01:31Z |
Former NFL quarterback Colin Kaepernick, partner announce birth of child
Published: Aug. 30, 2022 at 8:18 AM EDT|Updated: 43 minutes ago
(CNN) - Former NFL quarterback Colin Kaepernick has a new member in the huddle.
His partner, Nessa, announced on Instagram that she had the couple’s first child a few weeks ago.
The post included a picture of Nessa, Kaepernick and their child, whose gender was not revealed.
Kaepernick hasn’t taken the field since his last game with the San Francisco 49ers during the 2016 season.
He first garnered controversy in 2016 when he started to kneel during the pre-game national anthem.
The following year he filed a grievance against the NFL saying they were preventing him from playing.
He later settled the complaint.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.whsv.com/2022/08/30/former-nfl-quarterback-colin-kaepernick-partner-announce-birth-child/ | 2022-08-30T13:02:17Z |
Jackson, Miss., loses water service amid flooding; state to distribute water
JACKSON, Miss. (WLBT/Gray News) - The state is stepping in to help as Jackson’s water system is teetering on collapse.
The Mississippi Emergency Management Agency and National Guard will set up distribution sites to provide potable and non-potable water to residents, while Hinds County Emergency Operations had secured water to ensure the fire department could continue to operate when needed.
The city of Jackson has had to cut water production at its main treatment plant due to flooding from the Pearl River.
On Monday, the Pearl crested at 35.37 feet, more than 7 feet above flood stage. As a result, operators have had to make adjustments to the treatment process and have had to cut production there as a result of the change in the water’s chemical makeup brought about by that flooding.
“Because of the river water coming into the plant, we have had to change the way we treat the water. The chemical composition of the water coming in, we [had] to figure out how to contend with the water coming in,” Mayor Chokwe Antar Lumumba said during a Monday press conference. “It has led to the reduction of water being put out into the system, which consequently, reduces tank levels and affects, systemwide, the water pressure in the homes of our residents.”
The water treatment plant brings in water from the reservoir. During floods, the makeup of the water changes and can have higher turbidity, more sediment and more organic materials in it.
Mississippi Gov. Tate Reeves held an emergency press conference Monday night, hours after the mayor’s announcement.
Not long after Lumumba’s announcement, reports began pouring in from businesses, residents and state government officials that they no longer had water service.
Reeves said that’s because of a failure at the O.B. Curtis Water Treatment Plant, the city’s main treatment facility.
“What I am focused on right now is ensuring that we get an incident command center set up at the facility. They will be at O.B. Curtis, first thing tomorrow morning. They will work with the city personnel that are currently there. And we will assess what needs to be done to get the quantity of water flowing as quickly as humanly possible.”
Reeves wasn’t sure how long the state would be assisting the city, but officials said it could be for several months.
Reeves told reporters the state will be setting up a unified command center at the water treatment plant, and that officials with the Mississippi State Department of Health will immediately send in experts to help assess the problem at the facility.
The governor said the state had been preparing for a water failure at the plant but was hopeful that failure was still months or weeks away.
“We were told on Friday that there was no way to predict exactly when, but that it was a near certainty that Jackson would fail to produce running water sometime in the next several weeks or months,” he said. “We began preparing for a scenario where Jackson will be without running water for an extended period. Over the weekend, we started developing water distribution plans, sourcing tankers and assessing all the risks associated with an event like this ...
“All this was with the prayer that we would have more time before the system ran into failure,” he added. “Unfortunately, that failure appears to have begun today.”
Citing the lack of water, Jackson Public Schools is shifting to virtual learning on Tuesday. Meanwhile, the governor is leaving it up to many state agencies with downtown offices to determine whether they will operate.
The Mississippi Supreme Court, for instance, is going to operate with reduced staff at the Gartin Justice Building on Tuesday, with most staff of the appellate courts and Administrative Office of Courts working remotely.
“We have two water treatment facilities in the city of Jackson Fewell and O.B. Curtis is not operating anywhere near capacity. And we may find out tomorrow it’s not operating at all. We’ll find out,” Reeves said. “But what we do know is that ... the quantity of water is moving through the pipes in the city of Jackson, not even speaking to the quality, the quantity is not sufficient to provide the kind of water pressure that we need to do a lot of things.”
“Clearly, it’s not moving through the system fast enough to the 19th floor of the Sillers Building to ensure that our chiller is keeping the 19 floors of state government operating properly,” he added. “But it’s also, in some instances, perhaps not getting to the fourth or fifth floor of dorm rooms at Jackson State.”
MEMA Executive Director Stephen McCraney said several steps are being taken to help. Beginning Tuesday, the agency will be bringing in potable and non-potable to distribute to residents.
“We have a hurricane stock, a tornado stock ... it’s not the biggest in the world, but I’m going be able to roll out of there with probably 38,000 bottles of water first thing in the morning,” he said. “And then 18-wheelers are on the way. Logistics officers have already made that order.”
Initially, efforts will be to set up at city fire stations, where water is currently being distributed. However, MEMA will expand those efforts to other areas.
The state health department issued a boil water notice for all customers on Jackson’s surface water system on July 29. The notice was put in place due to high levels of turbidity taken in water samples. Lumumba initially objected to the order, despite the fact that Jackson issued its own boil water advisory.
Numerous issues have led to the failure at the plant, including a lack of maintenance and a lack of staff.
“A far too small number of heroic frontline workers were trying their hardest to hold the system together, but that it was a near impossibility,” Reeves said. “The state is going to get more operators at O.B. Curtis.”
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/08/30/jackson-miss-loses-water-service-amid-flooding-state-distribute-water/ | 2022-08-30T13:02:20Z |
Meghan speaks about her efforts ‘forgiving’ royal family
LONDON (AP) — Meghan, the Duchess of Sussex, says that “just by existing,” she and her husband Prince Harry “upset the dynamic of the hierarchy” when they were in the U.K.
The former actress made headlines in Britain on Tuesday with comments made during an interview with U.S. magazine The Cut. In the interview published Monday, the duchess said it’s not easy to “forgive” when asked if there was room for forgiveness between her, Britain’s royal family and her own family. She also referred to Harry’s strained ties with his father, Prince Charles.
“I think forgiveness is really important. It takes a lot more energy to not forgive,” she said. “But it takes a lot of effort to forgive. I’ve really made an active effort, especially knowing that I can say anything.”
Meghan, 41, and Harry, 37, have been in a tense relationship with Britain’s royal family since they stepped away from royal duties and left the U.K. in early 2020, citing what they said were the unbearable intrusions and racist attitudes of the British media.
Since their move to California, where they are now settled with their two young children, they have publicly discussed their unhappiness with the royal family. In a bombshell interview with Oprah Winfrey last year, Meghan spoke about racism within the monarchy and Harry said Charles had stopped taking his calls.
Asked about Meghan’s privacy lawsuit against a British tabloid, The Cut — part of New York Magazine — said the duchess spoke about the terrible impact of “toxic tabloid culture” on both her and Harry’s families.
“Harry said to me, ‘I lost my dad in this process.’ It doesn’t have to be the same for them as it was for me, but that’s his decision,” she told the magazine.
A spokeswoman for Meghan later clarified that the duchess was referring to losing her own estranged father, Thomas Markle, and saying that she hopes this does not happen to Harry and his father.
The couple have signed deals with Spotify and Netflix, and the first offering, a podcast featuring Meghan as a host in conversation with celebrities, has just launched.
___
Follow all AP stories on Britain’s royal family at https://apnews.com/hub/queen-elizabeth-ii.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/30/meghan-speaks-about-her-efforts-forgiving-royal-family/ | 2022-08-30T13:02:22Z |
Musk cites whistleblower as more reason to exit Twitter deal
(AP) - Tesla CEO Elon Musk has again filed paperwork to terminate his agreement to buy Twitter, this time based on information in a whistleblower complaint filed by Twitter’s former head of security.
In an SEC filing Tuesday, Musk said his legal team notified Twitter of “additional bases” for ending the deal on top of the ones given in the original termination notice issued in July.
In a letter to Twitter Inc., which was included in the filing, Musk’s advisors cited the whistleblower report by former executive Peiter Zatko — also known by his hacker handle “Mudge.”
Zatko, who served as Twitter’s head of security until he was fired early this year, alleged in his complaint to U.S. officials that the company misled regulators about its poor cybersecurity defenses and its negligence in attempting to root out fake accounts that spread disinformation
The letter, addressed to Twitter’s Chief Legal Officer Vijaya Gadde, said Zatko’s allegations provide extra reasons to end the deal if the July termination notice “is determined to be invalid for any reason.”
Billionaire Musk has spent months alleging that the company he agreed to acquire undercounted its fake and spam accounts, which means he doesn’t have to go through with the $44 billion deal. Musk’s decision to back out of the transaction sets the stage for a high-stakes legal battle in October.
Twitter did not respond to a request for comment.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/30/musk-cites-whistleblower-more-reason-exit-twitter-deal/ | 2022-08-30T13:02:23Z |
Rockingham County Public Schools seeking input on cell phone policy
HARRISONBURG, Va. (WHSV) - Rockingham County Public Schools announced last week that it would be revisiting it current policy on cell phones.
In an email sent to parents, Superintendent Dr. Oskar Scheikl cited comments from both RCPS faculty and families over the last few years on the quote “negative impact of cell phone use in our educational environment.”
He says in recent years when hardwired and mobile computer labs became difficult to schedule and access, students would be allowed to use their phones for instructional time per the teacher’s discretion.
“Quite a while ago RCPS policy allowed cell phones to be used in the classroom, as kind of this ‘bring your own device’ model, and I think now that Chromebooks are available to every student to do their research and to write their papers that bring your own device policy is not instructionally necessary,” Dr. Scheikl said
According to the 2021-22 RCPS Student and Parent Handbook, students’ personal devices like iPads and cell phones are, ‘prohibited during instructional time unless a teacher directs students to them for an educational task.’ In the handbook, it is also stated that high school students are permitted to use their devices during lunch, between classes, and on the school bus.
In the survey sent via email to parents and faculty last week, three options were listed to choose from as preferences for cell phone usage at school along with an ‘other’ option people can fill out themselves:
- Students should have to leave their cell phones at home.
- Students should be permitted to bring their cell phones to school, but leave it in their bookbags during instructional time.
- Students should be permitted to have their cell phones out of the book bag during instructional time but should only be permitted to use it with teacher permission.
Dr. Scheikl says the survey is an opportunity to start a conversation and gauge preferences from faculty, parents, and students on the policy.
“Coaches communicate that way, parents communicate that way certainly, students who are driving. There are all kinds of other reasons for them to have their information but there are ways to make that happen where it doesn’t become a distraction during class time,” Dr. Scheikl said.
These kinds of policy revisits are happening across the country, and Dr. Scheikl says he and other RCPS staff have researched other school divisions in the state who have revisited or changed their cell phone policies.
“We want to make sure we have that conversation as well. We didn’t do it over the summer because we wanted to make sure we got community feedback once everyone returns and is in back-to-school mode. So, we will see what the survey results are and we will go from there,” Dr. Scheikl explained.
The survey closes on August 31st. The results of the survey will be discussed by Dr. Scheikl and the rest of the RCPS board in September, which will then determine if a policy change is deemed necessary.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/08/30/rockingham-county-public-schools-seeking-input-cell-phone-policy/ | 2022-08-30T13:02:32Z |
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