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summarize: The bond market is still flashing a warning signal that an economic recession is imminent.
The 10-year and 3-month yield curve has been inverted for 212 straight trading days, a record.
While fewer economists expect a recession, the economy is still poised to suffer from the lagged effects of the Fed's rate hikes.
A bond market signal that has been flashing red for months suggests that an economic recession could still be on the horizon.
The 10-year and 3-month yield curve has been inverted for 212 straight trading days, a record that just surpassed the 1980 inversion and is now the longest stretch since at least 1962, according to data from Bloomberg.
The yield curve inverts when short-dated Treasurys offer a higher yield than longer-term Treasurys, a market anomaly that typically suggests a period of economic weakness is imminent.
Part of the expected weakness is based on the fact that banks, which make money by borrowing at typically low short-term rates and lending it out to businesses at higher long-term rates, have little incentive to lend when short-term interest rates are so high.
Another takeaway of yield curve inversions is the idea that the Federal Reserve is likely to soon cut interest rates below the neutral level in a bid to stimulate the economy. But the current inversion is unique in that it's being driven by a Fed that is focused on taming inflation amid a period of solid economic growth.
That has called into question whether the latest inversion could be the first one on record that fails to predict a recession, especially if the Fed is able to declare victory on inflation and cut interest rates to levels that are still above the neutral rate of around 2.5%.
According to market veteran Ed Yardeni, such an outcome would be "nirvana."
"It's conceivable that the interpretation of what the yield curve is saying here is that the Fed managed to succeed in bringing inflation down. The economy has proven to be remarkably resilient and the Fed may not have to raise rates much higher," Yardeni said in a July interview.
That could mean that the yield curve could uninvert without a recession materializing, as more economists expect. Goldman Sachs said earlier this month that it sees just a 15% chance of the US economy falling into a recession.
But there is still a lingering risk that investors have to confront: the Fed's aggressive interest rate hikes have a lagged effect on the economy. That means that even if the Fed stops hiking rates for the rest of the year, the ramifications of its more than 10 increases could still work their way through the economy in a negative way into next year.
Prior yield curve inversions have lasted as long as 18 months before a recession hit the economy, like in 1980. And when the yield curve inverted in July of 2006, a downturn in the economy didn't happen until 15 months later in December 2007.
So while the ongoing resilience in the economy has sowed doubt in the reliability of the yield curve inversion signal, the economy is not out of the woods yet.
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Prior yield curve inversions have lasted as long as 18 months before a recession hit the economy.
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summarize: NVIDIA has started rolling out Software Experience Upgrade 9.0 for Shield TV devices, and it will upgrade their operating system to Android 11. The company says Experience 9.0 will bring the new OS to all Shield TVs, including the original 2015 models, and it will also include the September 2021 Android security patch that fixes a vulnerability allowing remote attackers to cause a permanent denial of service.
In addition, the upgrade adds access to a new Google Keyboard with support for voice searches. Users will now be able to look for movies and shows to watch by issuing voice commands through Google Assistant. Those who have aptX compatible Bluetooth headsets will be able to start using it with their streaming box, as well.
Other updates including the option to automatically disconnect Bluetooth devices on sleep in order to save battery, an Energy saver setting for additional power customization and Stadia button support for Xbox, Playstation and Shield controllers. For GeForce Now members, the update adds support for additional Bluetooth keyboards and mice. Plus, Twitch has been updated to be able to simultaneously support high-quality streaming and gaming for them.
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NVIDIA has started rolling out Software Experience Upgrade 9.0 for Shield TV devices.
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summarize: (Bloomberg) -- Qualcomm Inc., whose technology dominates in smartphones, said it’s going to offer a new chip for use in data centers that will help accelerate artificial intelligence processing, joining a crowded race to provide the fundamental building blocks of new forms of computing.
The company will use its mobile expertise, and ability to design chips made with the latest manufacturing technology, to start supplying the new products that will compete in a market worth $17 billion by 2025, Keith Kressin, a Qualcomm executive, said at a company event Tuesday in San Francisco. Their key attribute will be power efficiency, he said.
Qualcomm, whose growth has stalled amid a slowing smartphone market, increasing competition and legal battles that threaten its technology licensing business. In response, the company is seeking new markets to try to reverse that. The business of recognizing images, speech and making data-based decisions by computers is expanding rapidly and stretching the capabilities of the type of chips that have dominated since the birth of the personal computer in the early 1980s.
Semiconductor companies are scrambling to either optimize traditional types of chips or offer completely new approaches to companies such as Alphabet Inc.’s Google, Amazon.com Inc.’s AWS and Facebook Inc. In turn, these cloud-computing providers are increasingly moving toward designing their own components.
Facebook’s computers currently make 200 trillion predictions daily, Joe Spisak, a product manager at the social media company said at the Qualcomm event. That increasing workload makes it difficult to keep up with the growing demands of supplying data centers with power, a need that doubles annually and is unsustainable, he said.
Such testimonies highlight the urgency for new solutions, which hasn’t been missed by Qualcomm’s competitors. Intel Corp., whose processors are pervasive in data centers, has bought smaller companies that make different types of chips with attributes helpful in handling work for AI accelerators. It’s also adding capabilities to its processors to try to make them more efficient and better at making sense of the increasing flood of data created by phones and machines. Qualcomm is also playing catch up with Nvidia Corp. which has built a multibillion-dollar annual business adapting its graphics chips for data-center use.
Kressin said Qualcomm will provide more details of its new product, called the Cloud A1 100, later this year. The chip is aimed at inferencing work – making decisions based on analysis of data streams such as digitized voice or images. More than just a repurposed mobile phone processor, he said, it’s more than 50 times as powerful in processing AI workloads as the company’s flagship mobile chip. The new offering will be in production in 2020, he said.
To contact the reporter on this story: Ian King in San Francisco at [email protected]
To contact the editors responsible for this story: Jillian Ward at [email protected], Molly Schuetz, Andrew Pollack
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
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The company will use its mobile expertise, and ability to design chips made with the latest manufacturing technology, to start supplying the new products that will compete in a market worth $17 billion by 2025, Keith Kressin, a Qualcomm executive, said at a company event Tuesday in San Francisco. Qualcomm
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summarize: (Bloomberg) -- In what’s proving to be a year of growth for the biggest U.S. banks, Wells Fargo & Co.’s scandal overhang is keeping it from joining the party. Revenue fell more than expected in the fourth quarter, bringing the bank to an annual drop as peers saw increases.
Revenue declined 5 percent in the fourth quarter, the third decrease in the past year.
Key Insights
Another drop in both loans and deposits shows that Wells Fargo is still struggling to bounce back from the scandals as it also faces a regulatory asset cap. Total average loans sank 1 percent, while average deposits fell 3 percent. Meanwhile, Citigroup Inc. and JPMorgan Chase & Co. showed growth in both metrics in the fourth quarter.Provisions for bad loans fell 20 percent, the ninth consecutive quarterly decline and a sign of strength in the economy even amid rising rates and turbulent markets. Efficiency ratio, a measure of profitability, worsened slightly in the quarter and ended the year at 65 percent. The bank has faced increased costs in recent years, the result of regulatory fines and legal expenses stemming from customer abuses. Sloan is targeting a 55 percent to 59 percent ratio in the long term, excluding litigation costs, and has promised $4 billion in cost reductions by the end of 2019.
Market Reaction
Wells Fargo shares were down 0.3 percent at 8:10 a.m. in early trading in New York. They rose 1.2 percent Monday, and are down 23 percent in the past year.
Get More
Net income fell to $6.1 billion, or $1.21 a share, beating the $1.19-a-share average estimate of 27 analysts in a Bloomberg survey. Click here for Wells Fargo’s fourth-quarter earnings statement.From Dec. 27: Wells Fargo CEO Survives to 2019 as Scandals Burn Through Ranks
To contact the reporter on this story: Hannah Levitt in New York at [email protected]
To contact the editors responsible for this story: Michael J. Moore at [email protected], Daniel Taub, Steve Dickson
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
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Revenue fell more than expected in the fourth quarter, bringing the bank to an annual drop as peers saw increases.Revenue declined 5 percent in the fourth quarter, the third decrease in the past year. Meanwhile, Citigroup Inc. and JPMorgan Chase & Co. showed growth in both metrics in the fourth quarter.Provisions
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summarize: — Recommendations are independently chosen by Reviewed's editors. Purchases made through the links below may earn us and our publishing partners a commission.
Amazon Prime Day is over, but you can score tons of Reviewed-approved Amazon deals on all the gadgets you've been eyeing, like the Rachio 3 smart sprinkler controller. Named the best smart sprinkler controller we've tested at Reviewed, the Rachio 3 makes it easy to keep your lawn in tip top shape with the press of a button—and it's currently $30 off.
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The Rachio 3 also comes programmed with Weather Intelligence and Smart Cycle, so it knows to skip a session if rain is coming and change the frequency of your waterings to prevent runoff—giving you peace of mind. Smart sprinkler systems can get expensive, but the Rachio 3 is $30 off right now so we suggest shopping this Amazon deal before it gets washed away.
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Prices were accurate at the time this article was published but may change over time.
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The Rachio 3 is the best smart sprinkler system we've tested—and it's $30 off thanks to this Amazon Prime Day deal. Shop Amazon tech and smart home deals now.
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summarize: (Bloomberg) -- Sonos Inc. rallied on Monday, with the stock extending a recent advance to a seventh straight session, the longest such streak in the speaker company’s history.
Earlier on Monday, JPMorgan analyst Samik Chatterjee suggested that Sonos could be a strategic acquisition target for Apple, though he noted that the prospect of such a deal was speculative and theoretical.
Shares rose as much as 8.5 percent, taking them to their highest level since November. Over the past seven trading days, the stock is up more than 20 percent. Despite the recent gains, Sonos remains down nearly 40 percent from a record close in August.
A spokesperson for Sonos said the company doesn’t comment on rumors or speculation. Apple didn’t immediately return a request to Bloomberg News for a comment.
JPMorgan wrote that the category of smart home speakers were among the industries with “the most strategic value,” for Apple, “providing potential growth opportunities to leverage services over a wider installed base.”
Apple is “currently lagging competitors in the smart home category,” JPMorgan wrote, referring to the company’s HomePod product line. Sonos, in contrast, has a “differentiated position as a premium home speaker system relative to Amazon Alexa and Google Home,” along with “strong loyalty among current customers and [a] robust international presence.”
To contact the reporter on this story: Ryan Vlastelica in New York at [email protected]
To contact the editors responsible for this story: Catherine Larkin at [email protected], Steven Fromm
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
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Earlier on Monday, JPMorgan analyst Samik Chatterjee suggested that Sonos could be a strategic acquisition target for Apple, though he noted that the prospect of such a deal was speculative and theoretical. A spokesperson for Sonos said the company doesn’t comment on rumors or speculation. Apple didn
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summarize: On Friday, the US House of Representatives passed the America COMPETES Act of 2022 almost entirely along party lines. Among other measures, the sprawling 2,900-page bill allocates $52 billion in grants to subsidize semiconductor manufacturing. It also authorizes nearly $300 billion for research and development.
If enacted, the legislation would represent the most comprehensive attempt by the US to match China’s recent technological and industrial dominance. However, as The New York Times points out, it is unlikely to pass in its current iteration. Much of that comes down to ideological differences between how Democrats and Republicans think the federal government can best position the country to compete against China.
Republicans say the legislation includes too many extraneous provisions to address climate change. For instance, it earmarks $8 billion in contributions to the Green Climate Fund, an initiative created by Paris Agreement to help developing countries deal with the crisis. Republicans also say the bill doesn’t do enough to hold China accountable.
However, Democrats and Republicans broadly agree the federal government should spend more money to support local chip production. When Intel announced it was building a $20 billion semiconductor fabrication plant in Ohio last month, the company noted it could eventually invest as much as $100 billion in the facility over the next decade if Congress approves additional support for the industry. According to a recent report from Bloomberg, President Biden sees the lack of domestic chip production as a security issue. Global chip shortages have also played a significant part in fueling inflation in recent months.
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On Friday, the US House of Representatives passed the America COMPETES Act of 2022 almost entirely along party lines.
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summarize: By Amy-Jo Crowley and Valentina Za
LONDON/MILAN (Reuters) - A number of international groups are in the running to buy TUA Assicurazioni from Generali, sources with knowledge of the matter said, as Italy's top insurer aims to streamline assets inherited in a deal in 2021.
TUA Assicurazioni, a non-life company founded in 2003, is valued at around 300 million euros ($335 million), according to the sources. TUA offers policies covering areas such as motoring, home and health and was acquired by Generali as part of its deal to buy smaller rival Cattolica two years ago.
Two sources mentioned German insurance heavyweight Allianz, fellow German insurer Talanx and France's Groupama as potential bidders.
One of them also named Italy's Itas as one of up to five parties that could bid in the second round.
Talanx could however drop out of the reckoning if it wins an auction for the sale of the insurance business of the Italian cooperative banking group ICCREA, the same source said.
ICCREA is expected to pick two insurance partners by the end of the month. Talanx has expressed interest in ICCREA's non-life business and is competing with Swiss Helvetia Group, Groupama and Italian cooperative insurer Assimoco.
Generali, which is being advised by Rothschild and Mediobanca, kicked off a second phase of the sales process earlier this month, opening TUA's virtual data room to potential bidders.
Generali, Rothschild, Mediobanca, Talanx, Allianz and Itas declined to comment. Groupama did not reply to an emailed request for a comment.
($1 = 0.8946 euros)
(Additional reporting by Gianluca Semarero in Milan, writing by Keith Weir; Editing by Keith Weir and Louise Heavens)
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A number of international groups are in the running to buy TUA Assicurazioni from Generali, sources with knowledge of the matter said, as Italy's top insurer aims to streamline assets inherited in a deal in 2021. TUA Assicurazioni, a non-life company founded in 2003, is valued at around 300 million euros ($335 million), according to the sources. TUA offers policies covering areas such as motoring, home and health and was acquired by Generali as part of its deal to buy smaller rival Cattolica two years ago.
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summarize: Last year, hurricanes hammered the Southern and Eastern US coasts at the cost of more than 160 lives and $70 billion in damages. Thanks to climate change, it's only going to get worse. In order to quickly and accurately predict these increasingly severe weather patterns, the National Oceanic and Atmospheric Administration (NOAA) announced Tuesday that it has effectively tripled its supercomputing (and therefore weather modelling) capacity with the addition of two high-performance computing (HPC) systems built by General Dynamics.
“This is a big day for NOAA and the state of weather forecasting,” Ken Graham, director of NOAA’s National Weather Service, said in a press statement. “Researchers are developing new ensemble-based forecast models at record speed, and now we have the computing power needed to implement many of these substantial advancements to improve weather and climate prediction.”
General Dynamics was awarded the $505 million contract back in 2020 and delivered the two computers, dubbed Dogwood and Cactus, to their respective locations in Manassas, Virginia, and Phoenix, Arizona. They'll replace a pair of older Cray and IBM systems in Reston, Virginia, and Orlando, Florida.
Each HPC operates at 12.1 petaflops or, "a quadrillion calculations per second with 26 petabytes of storage," Dave Michaud, Director, National Weather Service Office of Central Processing, said during a press call Tuesday morning. That's "three times the computing capacity and double the storage capacity compared to our previous systems... These systems are amongst the fastest in the world today, currently ranked at number 49 and 50." Combined with its other supercomputers in West Virginia, Tennessee, Mississippi and Colorado, the NOAA wields a full 42 petaflops of capacity.
With this extra computational horsepower, the NOAA will be able to create higher-resolution models with more realistic physics — and generate more of them with a higher degree of model certainty, Brian Gross, Director, NOAA’s Environmental Modeling Center, explained during the call. This should result in more accurate forecasts and longer lead times for storm warnings.
"The new supercomputers will also allow significant upgrades to specific modeling systems in the coming years," Gross said. "This includes a new hurricane forecast model named the Hurricane Analysis and Forecast System, which is slated to be in operation at the start of the 2023 hurricane season," and will replace the existing H4 hurricane weather research and forecasting model.
While the NOAA hasn't yet confirmed in absolute terms how much of an improvement the new supercomputers will grant to the agency's weather modelling efforts, Ken Graham, the Director of National Weather Service, is convinced of their value.
"To translate what these new supercomputers will mean for for the average American," he said during the press call, "we are currently developing models that will be able to provide additional lead time in the outbreak of severe weather events and more accurately track the intensity forecasts for hurricanes, both in the ocean and that are expected to hit landfall, and we want to have longer lead times [before they do]."
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The NOAA is tripling its supercomputing capacity ahead of hurricane season.
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summarize: (Reuters) -Apple Inc is in talks with suppliers to make MacBooks in Thailand as part of the company's ongoing efforts to expand its manufacturing presence beyond China, Nikkei reported on Thursday.
Suppliers who are participating in these talks have existing manufacturing complexes in Thailand for other clients and are discussing possible assembly and production of components and modules for MacBooks, sources from three suppliers directly involved in the conversations with Apple told Nikkei.
Apple did not immediately respond to a Reuters request for comment.
It has also been mass-producing its Apple Watch in Thailand for more than a year, the Nikkei report said.
Covid-related issues made Pegatron Corp, a Taiwan-based key iPhone assembler "emphasise" its expansion in other countries, a senior executive had said last year.
Foxconn, which assembles around 70% of iPhones, has also been diversifying production away from China, where strict COVID restrictions disrupted its biggest iPhone plant last year.
(Reporting by Akriti Sharma and Yana Gaur in Bengaluru; Editing by Nivedita Bhattacharjee)
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Suppliers who are participating in these talks have existing manufacturing complexes in Thailand for other clients and are discussing possible assembly and production of components and modules for MacBooks, sources from three suppliers directly involved in the conversations with Apple told Nikkei. Apple did not immediately respond to a Reuters request for comment.
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summarize: As of October 3, 2023, Boeing Co (NYSE:BA) saw a slight gain of 1.71%, although it experienced a 3-month loss of 8.82%. The company reported a Loss Per Share of 7.49, raising questions about its valuation. Is the stock really modestly undervalued? This article aims to provide a comprehensive analysis of Boeing Co's intrinsic value to answer this question. Let's delve into the details.
A Brief Overview of Boeing Co
Warning! GuruFocus has detected 2 Warning Signs with BA. Click here to check it out.
BA 30-Year Financial Data
The intrinsic value of BA
Boeing Co, a major player in the aerospace and defense industry, operates across four segments: commercial airplanes, defense, space and security, global services, and Boeing capital. Competing with giants like Airbus and Lockheed, Boeing Co has a diverse portfolio ranging from aircraft production to military weaponry. Despite the company's broad operations and strong market presence, its current stock price raises questions about its valuation.
Understanding the GF Value
The GF Value is a proprietary measure that estimates a stock's fair value based on historical multiples, an internal adjustment factor, and future business performance estimates. The GF Value Line, displayed on our summary page, represents the ideal trading value of the stock. Stocks that trade significantly above the GF Value Line are considered overvalued, while those trading below are seen as undervalued.
According to our analysis, Boeing Co (NYSE:BA) appears to be modestly undervalued. This is based on its current stock price of $191.04 per share and the GF Value estimate. However, this undervaluation could potentially lead to higher long-term returns than its business growth.
Boeing Co's Financial Strength
Investing in companies with poor financial strength can lead to a high risk of permanent capital loss. To avoid this, it's crucial to review a company's financial strength before purchasing its shares. The cash-to-debt ratio and interest coverage are excellent indicators of this strength. With a cash-to-debt ratio of 0.26, Boeing Co ranks lower than 68.71% of the companies in the Aerospace & Defense industry, indicating poor financial strength.
Profitability and Growth of Boeing Co
Investing in profitable companies, especially those with consistent profitability and high profit margins, is generally less risky. Boeing Co has been profitable for six out of the past ten years. However, with an operating margin of -4.63%, it ranks lower than 74.92% of the companies in its industry, indicating fair profitability.
Another critical factor in company valuation is growth. Companies that grow faster create more value for shareholders. However, Boeing Co's average annual revenue growth is -6.1%, ranking it lower than 73.58% of the companies in the Aerospace & Defense industry. Its 3-year average EBITDA growth is 0%, which is lower than most companies in the industry.
ROIC vs WACC
Comparing a company's return on invested capital (ROIC) with its weighted average cost of capital (WACC) is another way to assess its profitability. For the past 12 months, Boeing Co's ROIC has been -3.54, while its cost of capital has been 10.75.
Conclusion
In conclusion, Boeing Co (NYSE:BA) appears to be modestly undervalued. However, its financial condition is poor, and its profitability is fair, making it a potentially risky investment. For more details about Boeing Co's financials, check out its 30-Year Financials here.
To discover high-quality companies that may deliver above-average returns, visit our GuruFocus High Quality Low Capex Screener.
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Is Boeing Co (BA) modestly undervalued or is it a risky investment? Let's dive into the details.
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summarize: Global Optical Genome Mapping Market
Dublin, Aug. 08, 2022 (GLOBE NEWSWIRE) -- The "Global Optical Genome Mapping Market, By Product (Consumables v/s Instruments), By Application (Genome Assembly, Structural Variation Detection, Microbial Strain Typing, Haplotype Phasing, Others), By End User, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Optical Genome Mapping Market stood at USD101.11 Million in 2021 and is projected to grow at a CAGR of 19.73% during the forecast period. Optical genome mapping represents an emerging technology that utilizes labeled and high molecular weight DNA that is subsequently electrophoresed to nanochannels and linearized for imaging.
Optical mapping has been commonly used to enhance de novo plant genome assemblies, with more genomes in the pipeline, such as rice, maize, Medicago, Amborella, tomato, and wheat. Optical genome mapping provides long-range genomic information and makes it convenient to spot significant structural differences. Optical mapping can assess long single DNA molecules that complement short-read sequencing. This technology assists in eliminating and finding out the cause of several genetic disorders in the plants and getting information about the root cause of those genetic disorders.
The modifying lifestyle, along with the accumulation of harmful mutations, escalates the cases of genetic disorders, which drives the market growth. The rising awareness among the population related to prenatal testing has elevated the demand for techniques such as optical genome mapping. Optical genome mapping assists in identifying repeat sections of the genome and all varieties of structural variants, thereby having the edge over the existing sequencing technologies. All these factors aid in market growth.
Report Scope:
In this report, the Global Optical Genome Mapping Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Optical Genome Mapping Market, By Product:
Consumables
Instruments
Optical Genome Mapping Market, By Application:
Genome Assembly
Structural Variation Detection
Microbial Strain Typing
Haplotype Phasing
Others
Optical Genome Mapping Market, By End-User:
Research & Academic Institutions
Biotechnology & Pharmaceutical Companies
Clinical Laboratories
Others
Optical Genome Mapping Market, By Region
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Optical Genome Mapping Market
5. Voice of Customer
6. Global Optical Genome Mapping Market Outlook
7. North America Optical Genome Mapping Market Outlook
8. Europe Optical Genome Mapping Market Outlook
9. Asia-Pacific Optical Genome Mapping Market Outlook
10. South America Optical Genome Mapping Market Outlook
11. Middle East and Africa Optical Genome Mapping Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
Companies Mentioned
Bionano Genomics, Inc.
Nabsys Inc
Nucleome Informatics Pvt Ltd
France Genomique
Praxis Genomics LLC
PerkinElmer, Inc.
OpGen, Inc
For more information about this report visit https://www.researchandmarkets.com/r/spu5wx
Attachment
Global Optical Genome Mapping Market
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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Global Optical Genome Mapping Market Global Optical Genome Mapping Market Dublin, Aug. 08, 2022 (GLOBE NEWSWIRE) -- The "Global Optical Genome Mapping Market, By Product (Consumables v/s Instruments), By Application (Genome Assembly, Structural Variation Detection, Microbial Strain Typing, Haplotype Phasing, Others), By End User, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering. The Global Optical Genome Mapping Market stood at USD
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summarize: NORWICH, England, May 18, 2022 /PRNewswire/ -- TECH LIVE LONDON, BizClik Media Group's fourth live event of 2022, will kick off next month, and will feature speakers who are at the forefront of the tech, AI, cyber, cloud, and 5G industries, as well as leading women in STEM.
The two-day hybrid event will kick off on Wednesday, June 23rd, and conclude at the end of Thursday, June 24th. Hundreds of attendees are expected in person, with thousands more tuning in online via the digital event platform Brella.
This will be our biggest event yet, with four zones - Technology & AI, Cloud & 5G, Cyber, and March8 - Women in STEM - taking over the iconic Tobacco Dock venue in LONDON.
There will be more than 80 speakers spread over six stages - four in-person, and two digital. All attendees will be able to watch any of the six stages, regardless of whether they are an in-person or virtual guest.
Each in-person stage will be in one of the four zones, but attendees are able to move between zones freely - regardless of what kind of ticket they have.
On top of the fantastic line-up of speakers (more on them below), there will also be a TECH showcase, where some of the newest and most interesting innovations in the industry will be on display. A lot of the exhibitions are still under wraps for now, although Eric and Gizmo, Nottinghamshire County Council's robot dogs, will be there!
The line-up of speakers includes Inderpal Bhandari, Global Chief Data Officer at IBM, Aaron Celaya, Squadron Commander at United States Space Force, and Belinda Finch, Chief Information Officer at Three.
Other big names include Aishwarya Srinivasan from Google, Lesley Kipling from Microsoft, Frank Wilde from Oracle, Edwige Robinson from T-Mobile, and many, many more. See more of our speakers on the TECH LIVE LONDON website here.
Each day's programme will start at 9.40am with an introductory talk, followed by speakers and panels on each stage throughout the day. While the lunch break will provide plenty of socialising opportunities, networking breaks are also scheduled regularly during the event.
And of course, this will all take place at the historic Tobacco Dock, situated in the heart of East LONDON. Built more than 200 years ago as a hub for cargo from across the world, the Grade 1 listed building has long played host to groundbreaking events, conferences and exhibitions. Soon, it will also be packed full of people ready and willing to discuss the technology, AI, cyber, cloud and 5G industries.
Daisy Slater, Marketing Manager for Technology, Mobile and Data Centre magazines, said: "Following the success of our previous events earlier this year, such as Sustainability LIVE, I am so excited for the launch of our inaugural TECH LIVE LONDON hybrid event in June.
"The event is a chance to bring together some of the world's leading technology companies and their thought leaders to shape the future of the tech industry and I'm so excited to be a part of it!"
Emily Cook, Marketing Manager for March8 said: "I am counting down the days for when we can unite the leading decision-makers in the tech industry as part of our biggest-ever hybrid event.
"I am so excited to showcase the inspiring women at the forefront of STEM industries on the March8 stage. Being able to shine a light on some amazing women in male-dominated industries is imperative to March8's core values of elevating women."
Find out more at live.technologymagazine.com/tech-live-london/
Media Contact
Jack Goddard
[email protected]
View original content:https://www.prnewswire.com/news-releases/tech-live-london-preview-301550346.html
SOURCE BizClik Media
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TECH LIVE LONDON, BizClik Media Group's fourth live event of 2022, will kick off next month, and will feature speakers who are at the forefront of the tech, AI, cyber, cloud, and 5G industries, as well as leading women in STEM.
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summarize: (Bloomberg) -- Alibaba Group Holding Ltd. plans a listing hearing early next week and is seeking to raise as much as $15 billion in a Hong Kong share sale, people familiar with the matter say, moving ahead with the city’s largest first-time stock offering since 2010.
Asia’s largest company by market value is now preparing for a hearing as mandated by companies that list on the Hong Kong bourse, the people said, requesting not to be named discussing a private matter. Alibaba declined to comment in an email.
Alibaba’s listing will be a triumph for a Hong Kong stock exchange that lost many of China’s brightest technology stars to U.S. rivals. The Chinese e-commerce giant had aimed to list as early as over the summer before pro-democracy protests rocked the financial hub, while trade tensions between Washington and Beijing clouded the market’s outlook. On Thursday, the U.S. and China agreed to roll back tariffs on each other’s goods in phases as they work toward a deal.
Billionaire Alibaba co-founder Jack Ma is moving closer to his dream of listing closer to home -- a move that curries favor with Beijing and hedges against trade war risks. A successful Hong Kong share sale could also help finance a costly war of subsidies with Meituan Dianping in food delivery and travel, and divert investor cash from rivals like Meituan and WeChat-operator Tencent Holdings Ltd.
Read more: Hong Kong Exchange Profit Drops Most in Almost Three Years
It could put the capital to work investing in new technologies such as artificial intelligence or fast-expanding affiliates such as Ant Financial. Courting investors closer to home also serves as a buffer of sorts should U.S.-Chinese tensions worsen. Already, U.S. lawmakers such as Senator Marco Rubio are agitating for measures to curb investment flows to Chinese companies, including the extreme option of tossing U.S.-listed firms off American bourses.
Alibaba -- which had roughly $57 billion of cash and equivalents as of June -- rode a national e-commerce boom that stemmed from an increasingly affluent middle class. But like arch-foe Tencent, it’s struggling to sustain growth as the world’s No. 2 economy slows, and China clashes with the U.S. over everything from trade and technology to investment.
At home, signs of strain are growing. China’s gross domestic product growth is expected to slump below 6%, which would be the economy’s slowest pace of expansion in three decades. Still, Alibaba last week reported a 40% surge in quarterly revenue, underscoring the resilience of consumer spending. The company on Monday will wrap up its most important sales event of the year -- Singles’ Day -- offering further clues on the health of consumption.
Alibaba’s decision to proceed came as Hong Kong’s stock exchange reported its worst slide in profit in almost three years.
(Updates with details of Alibaba’s record share offering from the third paragraph)
To contact the reporters on this story: Lulu Yilun Chen in Hong Kong at [email protected];Carol Zhong in Hong Kong at [email protected]
To contact the editors responsible for this story: Peter Elstrom at [email protected], ;Tracy Alloway at [email protected], Edwin Chan, Philip Lagerkranser
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
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(Bloomberg) -- Alibaba Group Holding Ltd. plans a listing hearing early next week and is seeking to raise as much as $15 billion in a Hong Kong share sale, people familiar with the matter say, moving ahead with the city’s largest first-time stock offering since 2010.Asia’s largest company by market value
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summarize: Viettel's brand value reached US$8.9 billion in 2023 – up US$144 million to 2022.
The most valuable telecoms brand in Southeast Asia, jumped 1 place in Asia and global telecommunications rankings.
8 consecutive years of increasing brand value on the Brand Finance Global 500
HANOI, Vietnam, Feb. 3, 2023 /PRNewswire/ -- Viettel Group was named as the most valuable telecoms brand in Southeast Asia and the 17th in the world, according to the latest Brand Finance Global 500. Viettel Group, with a brand value of US$8.9 billion, ranked the 234th position globally, and is the only brand of Vietnam and the only telecoms one of Southeast Asia listed in the 2023 rankings. Viettel remains a series of 8 consecutive years of increasing brand value even in the context of the 2022 recession.
All-out efforts bring spectacular growth in 2022
In 2022, amid continued turbulence in the global economic environment and the far-reaching effects of the COVID-19 pandemic, Vietnam still recorded high growth, and become a bright spot in the world economy.
Vietnam's economy grew 8.02% in 2022, the highest rate recorded in the 2011-2022 period. The increase is three-times the growth in 2021 and exceeded the target of 6-6.5% set by the Government. Several Vietnamese firms rose as silver lightning of Vietnam's economy with billions of dollars in profits.
Amid the uncertainties, Viettel pressed ahead with quality-oriented solutions in all fields such as telecoms, foreign investment, IT and digital services, Hi-tech R&D. Viettel earned pre-tax profits of VND43.1 trillion (US$1.8 billion) in 2022, the highest growth recorded since 2017. The profits rose 3% from 2021. The group's consolidated revenues increased by 6.1% to VND163 trillion (US$6.9 billion).
Viettel said telecommunications continued to be its main source of revenue, as the company remained the largest mobile telecommunications service provider in Vietnam, with a market share of 54%.
Last year, Viettel's foreign investment for the first time reached nearly US$3 billion. Meanwhile, it remitted home nearly US$500 million, the highest amount in the last five years. By the end of last year, it had repatriated nearly 70% of its total investment abroad.
The digital solutions and services provided by Viettel also had a breakthrough when revenues from information technology solutions surged by 58%.
About Viettel Group
Viettel Group is an international enterprise headquartered in Hanoi, Vietnam. The group has investments in 11 countries in Africa, Asia and Latin-America. Viettel has five business lines including telecommunications and information technology (IT); research and manufacture of electronic and telecommunications equipment; defense industry; cyber security and digital services. Viettel Telecom, a member of Viettel Group, is the largest telecommunications service provider in Vietnam.
SOURCE Viettel Group
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Viettel Group was named as the most valuable telecoms brand in Southeast Asia and the 17th in the world, according to the latest Brand Finance Global 500. Viettel Group, with a brand value of US$8.9 billion, ranked the 234th position globally, and is the only brand of Vietnam and the only telecoms one of Southeast Asia listed in the 2023 rankings. Viettel remains a series of 8 consecutive years of increasing brand value even in the context of the 2022 recession.
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summarize: LAS VEGAS, Oct. 14, 2021 /PRNewswire/ -- Over the past twelve months world-renowned architect Paul Steelman, and his design firm Steelman Partners, have transformed the Las Vegas skyline not once but twice. In October 2020, Circa Resort & Casino opened as the first new resort in Downtown Las Vegas since 1980. And just this past June, Resorts World Las Vegas opened as the first new resort on the famous Las Vegas Strip in over a decade.
Among the uncertainty of the global pandemic in 2020, construction continued at both Circa and Resorts. As construction continued, so did the designing that was happening behind the scenes at Steelman Partners. The team kept the projects on track and even helped Circa to open its casino and amenities two months early after the decision was made to complete the podium first before finishing the hotel tower.
Circa and Resorts World Las Vegas have been making headlines not only for being highly anticipated new resorts in Las Vegas but also for their larger-than-life amenities. Circa offers the world's largest sportsbook, capable of playing up to 19 games at once; Stadium Swim, the country's largest destination pool experience for sports fans with six temperature-controlled pools; Nevada's longest indoor bar; two-story casino; and the city's first fully-integrated rideshare hub.
Resorts World Las Vegas boasts three different hotels with a combined 3,500 rooms; the fourth largest LED screen in the world on the exterior of its west tower; 5.5-acre pool complex, the largest pool deck in Las Vegas, with seven unique pool experiences; 117,000 square foot casino floor; and a giant 50-foot-tall LED Globe showing rich visual content and exciting digital shows.
Steelman Partners continues to look forward to new and exciting ways to transform not only skylines but also expectations for resorts around the world. Being able to innovate for their clients is truly their passion. Steelman Partners' current project list includes INSPIRE Athens, Cambodia's Naga 3, and Majestic Las Vegas, among others.
About Steelman Partners
Established in 1987, and having completed every type of project imaginable since then, Steelman Partners has positioned itself as the global leader in entertainment architecture. Made up of the industry's most talented and acclaimed architects, designers, planners, and artists, the company and its affiliates are known for creating remarkable and memorable projects around the world. www.steelmanpartners.com
CONTACT
Jennifer Bradley
[email protected]
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SOURCE Steelman Partners LLP
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Over the past twelve months world-renowned architect Paul Steelman, and his design firm Steelman Partners, have transformed the Las Vegas skyline not once but twice. In October 2020, Circa Resort & Casino opened as the first new resort in Downtown Las Vegas since 1980. And just this past June, Resorts World Las Vegas opened as the first new resort on the famous Las Vegas Strip in over a decade.
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summarize: Four years after unleashing the Switch upon the world, Nintendo is releasing an upgraded version of its phenomenally successful console. After years of rumors, the company has at last confirmed the existence of a new Switch model with an OLED display. It'll cost $349.99 and arrive on October 8th.
As expected, the latest model has a larger, seven-inch screen. The 720p OLED display, which Nintendo claims is more vivid, is a step up from the 6.2-inch LCD screen on the original Switch. The console has significantly reduced bezels and 64GB of storage, while the dock has a wired LAN port.
Nintendo is promising "enhanced audio" with the new Switch, which works with all existing Joy-Con controllers. The company is offering it in the traditional neon red/blue color scheme with a black dock, or in a white/black color scheme with a white dock.
The new Switch also has what looks like a massively improved kickstand that spans the entire width of the back of the console. It can be propped up at any angle and looks far sturdier than the tiny, fragile piece of plastic that propped up the old Switch.
However, there's no 4K output, as reports had widely suggested. You'll still only play at a maximum resolution of 1080p in docked mode. Nor has Nintendo said it will upgrade any other parts of the Switch. The OLED device was rumored to use NVIDIA's DLSS tech with an upgraded chip. The company also warned that tweaks such as the larger screen mean the new Switch might not work as neatly with Nintendo Labo products.
The original Switch is still selling like hot cakes, so there’s a case to be made that Nintendo didn't need to upgrade the console just yet. But the original Switch's display and huge bezels are starting to look a little bit dated in 2021; this OLED screen should modernize the experience significantly. That said, for people who want to save some cash, Nintendo will continue selling the original Switch, at least for now.
It's highly likely that demand will far exceed supply. Nintendo president Shuntaro Furukawa told investors in a call in May that the company was still contending with shortages and production issues. The current global scarcity of semiconductors will also limit production capacity. So, the new Switch might be even harder to find than the current console has been at various points.
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As expected, the console has a larger OLED screen.
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summarize: An application that allows Montrealers to buy surplus food while saving the planet.
The app offers restaurants, cafés, bakeries, and groceries a seamless platform on which to sell their surplus foods.
MONTREAL, Sept. 1, 2021 /CNW Telbec/ - Sauvegarde, a new food waste reduction initiative based in Montreal, has announced today that they are launching their mobile app which allows cafés, bakeries, restaurants, and grocery stores to upload their excess food and sell it at a discount. "Food waste is a huge problem globally. Sauvegarde is changing this with its seamless app," said Johny Saliby, Founder at Sauvegarde.
Sauvegarde's solution is a win-win-win: users get delicious meals at a great price, merchants recover their sunk costs while reaching out to new customers, and the planet benefits from less wasted food.
A number of businesses in the Greater Montreal have already joined the pilot phase of the project, including:
Food chains: Rôtisseries St-Hubert Ltée and Toujours Mikes,
Food distributors: Groupe Alimentaire Miron, Cucina Fine Foods,
Grocery stores: Fruiterie Milano, Marché BKR, Le Paradis du Fromage, Boucherie La Petite-Patrie, La Baia Dei Formaggi, Épicerie SODA, Épices et tout (Longueuil), Le Palais de l'Épicerie Fine (Laval)
Bakeries/cafés: San Pietro, Louise, Mr Pinchot, Bémol et Levain, Bela Vista, La Brume dans mes lunettes, Trou de Beigne, À les sens ciel, Pâtisserie de la Gare, Pâtisserie Coup de Foudre, Pâtisserie Mahroussé, Pâtisserie Parc Sans Gluten, Café DAX, Café Code Noir, Presse Café (Little Italy) and Pâtisserie Ô Gateries (Longueuil).
These partners, for whom involvement in the environmental cause is a priority, believe that this technology will help reduce their carbon footprint. Roughly 30% of the food waste in Canada occurs at the retail and distribution level1.
"Growing up in a Middle Eastern household, I was taught to never waste food, so I was always conscious about it. As I got older, I realized that food waste is a global issue and that fighting it is one of the easiest ways to address climate change" says M. Saliby.
Sauvegarde has aligned their goal with the City of Montreal to help reduce the city's food waste by 50% by 2025 and reach zero waste by 2030. "We can achieve these goals by combining our efforts and by working as a community – positive change is imminent."
The app can be downloaded for free through the Apple Store and the Google Play Store.
About Sauvegarde
Sauvegarde is an online marketplace where food retailers can offer their surplus products at a reduced price. For more information, please visit https://sauvegarde.app/ and join Sauvegarde on Facebook and Instagram.
SOURCE Sauvegarde Market Inc
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Sauvegarde, a new food waste reduction initiative based in Montreal, has announced today that they are launching their mobile app which allows cafés, bakeries, restaurants, and grocery stores to upload their excess food and sell it at a discount. "Food waste is a huge problem globally. Sauvegarde is changing this with its seamless app," said Johny Saliby, Founder at Sauvegarde.
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summarize: NEW YORK, Sept. 15, 2021 /PRNewswire/ -- Lument Securities (Lument) recently advised the board of directors of Bryn Mawr Terrace, a continuing care retirement community (CCRC) located in Bryn Mawr, Pennsylvania, on its sale to a private operator. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities.
Located roughly 10-miles from downtown Philadelphia in the Main Line and operated by Main Line Senior Care Alliance, Bryn Mawr Terrace is an independent non-profit organization providing skilled nursing, memory care, and personal care services. As a standalone senior care provider without a Medicaid license, the board of directors at Bryn Mawr desired a strategic and confidential sale.
"We couldn't have done this transaction without the team from Lument," said Kevin Ross, president and CEO of Bryn Mawr Terrace and Main Line Senior Care Alliance. "It was my pleasure to work with a team of knowledgeable people and we are grateful for what they helped us accomplish."
The transaction closed in late August and included an assumption of the existing U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) loan that is also serviced by Lument, creating efficiencies in the closing process. Additional terms of the transaction were not disclosed.
Lument Securities served as exclusive financial advisor to Bryn Mawr Terrace in connection with the transaction. Post & Schell, P.C. served as legal counsel to Bryn Mawr Terrace.
About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, real estate investment sales, investment banking, and investment management solutions. Securities, Investment Banking and Advisory Services provided through OREC Securities, LLC, d/b/a Lument Securities, Member FINRA/SIPC. Investment advisory services are provided by OREC Investment Management, LLC, d/b/a Lument Investment Management. OREC Investment Management is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit www.lument.com.
MEDIA CONTACT
Michael Ratliff | Marketing Director
[email protected]
View original content to download multimedia:https://www.prnewswire.com/news-releases/lument-securities-advises-philadelphia-area-continuing-care-retirement-community-on-sale-301377774.html
SOURCE Lument
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Lument Securities (Lument) recently advised the board of directors of Bryn Mawr Terrace, a continuing care retirement community (CCRC) located in Bryn Mawr, Pennsylvania, on its sale to a private operator. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities.
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summarize: Just weeks after Facebook rebranded itself to “Meta,” the longtime owner of @metaverse Instagram suddenly found herself locked out of the account she had run for years. A message told Thea-Mai Baumann she was suspended for impersonation, though she had never pretended to be anyone else. Her account was returned after The New York Times wrote a story about the ordeal, but the company never offered an explanation for how the mistake was made.
While what happened to her was unusual, one aspect of Baumann’s story is more common: that people who are wrongfully suspended from their social media accounts often have little or no recourse for getting them back (at least, not without media attention).
Now that group may have another option. The “robot lawyer” company DoNotPay, which offers automated legal services, has a new offering: getting social media accounts unbanned.
The new service, which is included with DoNotPay’s $36 monthly subscription, offers users an alternative to emailing companies’ help center bots or wiring appeals that may never get answered. Instead, DoNotPay asks users for information about what happened to them, and sends a letter to the relevant company’s legal department on their behalf.
“These platforms prioritize legal cases,” DoNotPay CEO Joshua Browder tells Engadget. “When you're just writing into customer service, they don't really take it seriously.” Legal departments, on the other hand, are much more likely to respond, he says.
In the appeal, the company also tries to “match” your appeal with a “legal reason why they can't ban you,” using state and federal laws that may apply. The letter also includes a deadline for the company to respond. He says that so far PayPal and Instagram have been among the most-requested services for unbanning. But the service will work with other platforms as well, including Twitter, Snapchat, Uber, Tinder, YouTube, Twitch and others.
Crucially, Browder points out that the service is not intended for people who were banned from a platform for legitimate reasons, like violating its terms of service. And even for those who were wrongly suspended, he estimates the odds of actually getting an account back as the result of this process are around 20 percent.
But even if the appeal isn’t ultimately successful, Browder says there are other benefits to the process. For one, companies are required to turn over users’ data regardless of whether their account was suspended. So even if you are unable to, say, regain access to your Instagram account, DoNotPay can ensure the company hands over your account details. There’s also the fact that sending a legal demand letter can cause a much bigger headache for a company than ranting to customer service agents.
“In general in America, they do have the right to ban you,” Browder says. “We don't overstate that we can make miracles happen, but we can punish them a lot and get your data.”
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The “robot lawyer” company DoNotPay, which offers automated legal services, has a new offering: getting social media accounts unbanned.
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summarize: Ms. Marvel, one of several Marvel Cinematic Universe shows coming to Disney+ this year, will premiere on June 8th. Disney also revealed a trailer for the series. It centers around Kamala Khan (Iman Vellani), a Pakistani-American whose idol is Captain Marvel.
It's not too much of a spoiler to say that Kamala gains cosmic powers of her own, such as super strength and a shapeshifting ability, seemingly through mystical bracers. On top of becoming a superhero, Kamala has to contend with more ordinary aspects of life as a teenager, including high school, crushes, career counseling and parents.
Ms. Marvel (who'll be familiar to those who've read the comics or played Marvel's Avengers) is the MCU's first Muslim superhero. She'll also appear in The Marvels, which is scheduled to hit theaters on February 17th, 2023.
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Take a peek at the Marvel Cinematic Universe's first Muslim superhero in action.
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summarize: 2022 was a transformational year for Netflix that marked the streamer's foray into advertising.
It also brought layoffs, top exec exits, and structural changes to the company.
We updated our interactive chart of Netflix's power structure and key leaders.
Netflix may be remembered in 2022 for streaming hits like "Wednesday" and Ryan Murphy's "Monster: The Jeffrey Dahmer Story," but internally the company also underwent a dramatic reorganization in the past year.
Top execs including former marketing chief Bozoma Saint John left the company, and a new guard emerged as Netflix expanded into businesses including advertising and hired execs with experience from Snap and Hulu to lead the charge.
As subscriber growth slowed, Netflix also laid off hundreds of staffers in a string of layoffs that impacted its animation studio, social-media teams, contractors, and other parts of the company.
The streamer also shuffled around some key execs, restructuring its studio film team and centralizing TV and film for Europe, the Middle East, and Africa under content VP Larry Tanz.
As the power dynamics shift at Netflix, we've updated our organizational chart of the top executives at the streaming company and who they report to.
We've mapped out where its rising stars sit within the power structure, including operating and product chief Greg Peters, who oversees key bets including advertising and gaming; president of worldwide advertising Jeremi Gorman, who joined from Snap and has been building out the ad team; and Marian Lee, who was elevated to chief marketing officer in March.
We've also removed from the chart leaders who exited the company recently, including long-time product VP Todd Yellin, who left to return to filmmaking; senior film exec Tendo Nagenda, who departed as part of the film team restructuring; and Mark White, the former VP of engineering and member of the high-level Lstaff, whose LinkedIn profile now says he's "retired (ish)."
Read more about Netflix's recent leadership changes and explore the interactive org chart
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After a year of layoffs, exec exits, and restructuring at Netflix, we updated our exclusive chart of its organization structure and key leaders.
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summarize: (Bloomberg) -- Citigroup’s Tobias Levkovich and Brian Belski at BMO Capital Markets are the latest Wall Street bulls adjusting their outlooks after the equity sell-off.
Levkovich, Citi’s chief U.S. equity strategist, cut his 2019 year-end forecast for the S&P 500 to 2,850 from 3,100, saying only one of the firm’s dozen valuation models now supports the old target after the S&P 500 plunged 14 percent last quarter. While the new prediction still sees a 14 percent rally this year, it trails the average estimate of 2,975 from the latest Bloomberg survey of strategists.
Belski, chief investment strategist at BMO, reduced his target to 3,000 from 3,150 while keeping his profit estimate unchanged at $174 a share.
“2018 was a humbling year,” Belskie wrote in a note to clients. “After all, the market is rarely wrong, and 2018 was no different -– even if we believe emotions, rhetoric, and innuendo ultimately skewed prices more than we forecasted or accounted for.”
The duo joined a growing chorus of professional forecasters scaling back optimism after their average 2018 prediction over-estimated the S&P 500’s return by almost 400 points. Others who have reduced their projections include: Barry Bannister at Stifel Nicolaus, Jonathan Golub at Credit Suisse, Sanford C Bernstein’s Noah Weisberger, and Chris Harvey at Wells Fargo.
The new round of downgrades contrasts with a year ago, when strategists rushed to raise their targets amid an equity rally spurred by tax cuts. Now, fears of a recession are surfacing amid intensified U.S.-China trade tensions and a fourth rate hike by the Federal Reserve. The S&P 500 fell to the brink of a bear market in December, ending 2018 down 6.2 percent, the worst year since the 2008 financial crisis.
Volatility is likely to persist into the new year amid monetary tightening, but worries over a collapse in the economy and profits are overdone, according to Levkovich. The firm’s sentiment gauge, which reached euphoria just before the fourth-quarter sell-off, has swung to panic. In addition, the average analyst estimate for 2019 profit growth has come down to 8 percent from 12 percent three months ago, approaching Citi’s estimate of 6 percent.
“The painful ‘reset’ appears near completion,” Levkovich wrote. “Nothing is guaranteed, but the data suggest that we should be buying into current weakness.”
The strategist lowered his 2019 projection for the Dow Jones Industrial Average to 26,000 from 28,100. The gauge ended last year at 23,327.
(Updates with BMO’s reduction.)
To contact the reporter on this story: Lu Wang in New York at [email protected]
To contact the editors responsible for this story: Courtney Dentch at [email protected], Jeremy Herron, Richard Richtmyer
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
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Levkovich, Citi’s chief U.S. equity strategist, cut his 2019 year-end forecast for the S&P 500 to 2,850 from 3,100, saying only one of the firm’s dozen valuation models now supports the old target after the S&P 500 plunged 14 percent last quarter. The duo joined a growing chorus of professional forecasters
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summarize: (Bloomberg) -- HSBC Holdings Plc agreed to buy Citigroup Inc’s retail wealth management portfolio in mainland China, adding to its expansion in the world’s second-largest economy.
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The portfolio comprises about $3.6 billion in assets and deposits from wealth customers across 11 major cities, HSBC said in a statement. Terms of the transaction weren’t disclosed and the deal is expected to close in the first half of 2024, Citi said.
HSBC is pushing to become a leader in one of the world’s fastest growing wealth markets as part of its pivot to Asia strategy. Even so, the deal comes amid growing concern over the direction of the Chinese economy amid a protracted slump in the country’s real estate market, which had been a major source of wealth growth, and a crack down on private enterprise.
“Mainland China is central to our ambition to be the leading wealth manager in Asia,” said Nuno Matos, chief executive officer wealth and personal banking at HSBC.
The London-headquartered lender has pursued a combination of “organic and inorganic initiatives” to deepen coverage of mainland China wealth customers, with a focus on affluent and emerging affluent sectors. HSBC, which counts Hong Kong as its largest market, also recently acquired the remaining 50% stake in HSBC Life China and launched other private banking initiatives across six cities in mainland China.
The sale is part of a wind-down of Citi’s consumer banking business in China, which was announced in December 2022. The portfolio excludes credit cards, mortgages and other loans of Citi China.
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©2023 Bloomberg L.P.
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(Bloomberg) -- HSBC Holdings Plc agreed to buy Citigroup Inc’s retail wealth management portfolio in mainland China, adding to its expansion in the world’s second-largest economy.Most Read from BloombergIsrael Latest: Over 1,100 Dead; US Sends Warships to RegionAs Israel-Hamas War Rages, Oil Traders Focus on IranOil Jumps as Hamas’ Attack on Israel Fans Middle East TensionsChina Calls For Ceasefire After Hamas Attack on IsraelIsrael Latest: Over 1,100 Dead in Attacks Including Music Festival; Fi
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summarize: (Bloomberg) -- Foreign funds reversed their record exodus from Indian stocks as the country’s appeal as an alternative to China grows, boosting valuations for its equity market to a new peak.
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Global investors bought $17.2 billion of shares in the South Asian nation on a net basis this year through Sept. 1, which more than made up for their retreat in 2022. Traders piled into Indian equities for six straight months through August, the longest streak since March 2021.
Stocks in India are in the midst of a multi-year rally with the key benchmarks S&P BSE Sensex and NSE Nifty 50 Index headed for their eighth consecutive year of advances. A strong corporate earnings performance, robust economic growth and political stability are drawing investors even as they flee other Asian emerging markets.
The resumption of foreign inflows in March has also broadened a rally in local shares to small and mid-sized companies, helping them to rise faster than their larger peers. This has boosted India’s market capitalization to an all-time high of $3.75 trillion on Monday.
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©2023 Bloomberg L.P.
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(Bloomberg) -- Foreign funds reversed their record exodus from Indian stocks as the country’s appeal as an alternative to China grows, boosting valuations for its equity market to a new peak.Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsWhy China Is Avoiding Using ‘Bazooka’ to Spur EconomyMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadDiamond Prices Are in Free Fall in One Key Corner of the MarketGlobal investors bought $17.2 billion of shares in
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summarize: By Manuel Ausloos and Louise Dalmasso
PARIS (Reuters) - Workers at Apple stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15.
It is the latest headache for the tech giant in France after it was forced to stop selling its iPhone 12 model earlier this month for above-threshold radiation. Apple disputes the findings of the French watchdog.
About 30 staff were picketing outside the company's store in Opera in central Paris, one of three in the French capital, a few metres away from a line of about 40 customers waiting in the rain to enter the shop.
"We are still the people who make Apple's wealth, and therefore I think that we deserve a little more honorable treatment than what we are given today," said Anais Durel, a 36-year old who has worked for Apple for 10 years.
Apple unions including CGT, Unsa, CFDT and Cidre-CFTC, which also plan to strike on Saturday, have asked for a 7% wage increase to compensate for inflation, and an end to a months-long hiring freeze. Management did not want to offer more than a 4.5% hike, union officials said.
"Inflation is still quite nasty. There are a lot of employees who are experiencing difficulties," said Tarek, a CGT union leader who declined to give his last name.
"The goal is not at all to block sales of the iPhone, the goal is really to bring awareness to this situation," he added.
Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting against working conditions.
About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
Paredes said the workers aim to highlight poor working conditions including contracts which do not compensate them for working at weekends or at night.
CNT is a minority union and only active in one of Barcelona's two stores. The union has not yet managed to secure a meeting with the company to lodge its complaints, Paredes said.
"We have been talking since August to our colleagues on strike in France. In Spain, unlike them, not all the unions have agreed to strike," Paredes said.
(Reporting by Manuel Ausloos, Louise Dalmasso and Abdul Saboor in Paris, Horaci Garcia in Barcelona, Corina Pons in Madrid; Additional reporting by Charlottte Van Campenhout; Writing by Charlie Devereux; Editing by Sharon Singleton)
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Workers at Apple stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. It is the latest headache for the tech giant in France after it was forced to stop selling its iPhone 12 model earlier this month for above-threshold radiation. Apple disputes the findings of the French watchdog.
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summarize: (Bloomberg) -- Trying to figure out what caused the biggest single-day stock turnaround since 2010? At least one analyst attributes it to buying by pension funds that dove into equities after December’s carnage.
The S&P 500 Index posted the biggest upward reversal in eight years during Thursday’s session, rallying back from a 2.8 percent deficit. The about-face could reflect end-of-quarter adjustments by pension funds that have $60 billion of shares to buy this month, among the most ever, according to Wells Fargo’s Pravit Chintawongvanich.
Institutional investors with large holdings in stocks and bonds use the end-of-quarter period to balance out holdings, adding to losers and cutting on winners. This time, they went big on U.S. large and small caps, adding $35 billion and $21 billion to indexes that are set to post the worst month since 2009. Money got pulled from fixed income that’s outperformed stocks, he said.
“While the $60 billion rebalance is historically large, its effect is probably exacerbated by the low market liquidity conditions,” Chintawongvanich said in a note to clients. “A given dollar to buy or sell is moving the market more than it normally would.”
Nothing guarantees the rally will be repeated, Chintawongvanich said, as such phenomena are quickly exploited by other traders. Now that the end-of-day rebalancing is well known, traders may buy ahead of pension funds only to sell high during the end-of-day rally. Those waiting for the right moment to dump a lot of stock may could do so in the last hour of the session.
The S&P 500 fell as much as 2.8 percent on Thursday before erasing its loss to rise 0.9 percent at the close. Since 1984, there was only one other session, in 2008, when the S&P was down more than 2 percent 1.5 hours before the close and and finished the day 0.5 percent higher, data compiled by SentimentTrader show.
The index gave up an early advance to trade lower by 0.2 percent as of 10:48 a.m. in New York, Friday.
To contact the reporter on this story: Elena Popina in New York at [email protected]
To contact the editors responsible for this story: Jeremy Herron at [email protected], Chris Nagi
For more articles like this, please visit us at bloomberg.com
©2018 Bloomberg L.P.
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At least one analyst attributes it to buying by pension funds that dove into equities after December’s carnage. The about-face could reflect end-of-quarter adjustments by pension funds that have $60 billion of shares to buy this month, among the most ever, according to Wells Fargo’s Pravit Chintawongvanich
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summarize: Microsoft and Nvidia gained as much as $192 billion in market value between them on Tuesday.
Elon Musk reacted to the pair's massive increase in market cap by tweeting: "Crazy times."
Musk once tweeted that Tesla stock was overvalued, and complained about its volatility.
Elon Musk underlined the astounding scale of Microsoft and Nvidia's combined market-value surge on Tuesday with a two-word tweet: "Crazy times."
While Musk didn't spell out whether he views Microsoft or Nvidia as overvalued, his strong reaction could be a red flag for investors.
What's going on with Microsoft and Nvidia?
Microsoft stock jumped 4% on Tuesday after it unveiled a $30 AI subscription for its Office 365 platform. Meanwhile, Nvidia rose 2% after a Citi analyst raised his price target for the stock and suggested it could surge nearly 30%. Both stocks continue to ride the wave of excitement around artificial intelligence, as investors bet the technology will dramatically boost productivity and supercharge providers' profits.
Combined, the computing titan and microchip maker gained as much as $192 billion in market capitalization during Tuesday's intraday trading. They ended the day with respective increases of $102 billion and $26 billion.
Microsoft shares have soared 50% this year to trade at a record high, which has added around $900 billion to the company's market cap. Nvidia has performed even better — its 225% gain has more than tripled its market cap to almost $1.2 trillion.
Put another way, both companies' market values have increased by more than the entire market cap of Warren Buffett's Berkshire Hathaway ($756 billion) this year.
Could Musk's tweet be a red flag?
Musk's exclamation about Microsoft and Nvidia isn't surprising; he tweeted "Wild T$1mes" after Tesla's market cap crossed $1 trillion in November 2020. However, the Twitter owner and Tesla and SpaceX CEO has warned about overheated and volatile stocks in the past.
"Tesla stock price is too high imo," he tweeted in May 2020, spooking his own shareholders and sending his company's stock downward.
Musk also complained the automaker's stock price was "being set in kind of a manic-depressive way," and called it "a bit of a distraction," on a Tesla earnings call in 2019.
"Warren Buffett's analogy is that being a publicly traded company is like having someone stand at the edge of your home and just randomly yell different prices for your house every day," Musk added. "It's still the same house."
Musk hasn't been complaining recently, perhaps because Tesla's stock price has skyrocketed from below $30 to over $290 since 2019, adjusted for the electric-vehicle maker's two stock splits. The surge has boosted the value of Musk's stake in Tesla; he's now the world's wealthiest person with a $256 billion fortune, according to the Bloomberg Billionaires Index.
It's worth emphasizing that Musk has been firing off short replies such as "wow" and "!" to many tweets in recent weeks, as he seeks to boost engagement on Twitter after buying it last year. "Crazy times" might just be another offhand response, but it could also signal he's taken aback by the magnitude of Big Tech stock moves today.
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"Crazy times," Elon Musk tweeted after Microsoft and Nvidia's combined market capitalization soared by nearly $200 billion in Tuesday's intraday trading.
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summarize: Before Microsoft announced the Surface Duo in 2019, the company spent several years working on an operating system codenamed Andromeda. It was envisioned as a reboot of Windows Phone with an emphasis on inking. The company worked on the software until it eventually decided to instead include Android on the Surface Duo. Until now, we’ve only seen glimpses of Andromeda in things like patent filing. But Windows Central recently obtained an internal build of the operating system and installed it on a Lumia 950.
Outside of a rare look at an unfinished project, what’s interesting about seeing Andromeda after all these years is how many of the ideas Microsoft was working on then either made their way to the Surface Duo or apps the company has released since. On the lock screen, for instance, you can see an early version of the Surface Duo’s peek functionality. Meanwhile, a lot of the features you see on the “Journal” home screen eventually made their way to the company’s Whiteboard app, and that’s something you can download from the Microsoft Store.
At the same time, it’s an interesting look at what could have been. Even in the software’s unfinished state, there’s a lot we see in the video that’s genuinely different from anything Android and iOS offer, even to this day. The fact Andromeda allowed you to jot down notes directly on the lock screen, and that they would still be there the next time you unlocked the phone, is something that looks genuinely useful.
Of course, there are probably many good reasons Microsoft ultimately decided not to pursue Andromeda. Launching a device that does something different, let alone a completely new operating system, is no easy task in a mature marketplace. Unless a device does nearly everything right, it’s difficult to overcome the fact most people tend to stick with products they know and are comfortable with.
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Until now, we’ve only seen glimpses of Andromeda in things like patent filing.
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summarize: TORONTO, June 27, 2022 /CNW/ - Alex Pernin, Chief Executive Officer and Director, Star Royalties Ltd. ("Star Royalties" or the "Company") (TSXV: STRR) shares his Company's story in an interview with TMX Group.
The View From The C-Suite video interview series highlights the unique perspectives of listed companies on Toronto Stock Exchange and TSX Venture Exchange. Videos provide insight into how company executives think in the current business environment. To see the latest View From The C-Suite visit https://www.tmxmoney.com/en/csuite.html.
About Star Royalties Ltd., (TSXV: STRR)
Star Royalties Ltd. is a precious metals and carbon credit royalty and streaming company. The Company created the world's first carbon negative gold royalty platform through its pure-green subsidiary, Green Star Royalties, and offers investors exposure to precious metals and carbon credit prices with an increasingly negative carbon footprint. The Company's objective is to provide wealth creation by originating accretive transactions with superior alignment to both counterparties and shareholders.
SOURCE TSX Venture Exchange
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Alex Pernin, Chief Executive Officer and Director, Star Royalties Ltd. ("Star Royalties" or the "Company") (TSXV: STRR) shares his Company's story in an interview with TMX Group.
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summarize: In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But if you try your hand at stock picking, your risk returning less than the market. Unfortunately, that's been the case for longer term STINAG Stuttgart Invest AG (FRA:STG) shareholders, since the share price is down 39% in the last three years, falling well short of the market decline of around 7.2%.
Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they've been consistent with returns.
View our latest analysis for STINAG Stuttgart Invest
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
STINAG Stuttgart Invest saw its EPS decline at a compound rate of 10% per year, over the last three years. The share price decline of 15% is actually steeper than the EPS slippage. So it's likely that the EPS decline has disappointed the market, leaving investors hesitant to buy.
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
Dive deeper into STINAG Stuttgart Invest's key metrics by checking this interactive graph of STINAG Stuttgart Invest's earnings, revenue and cash flow.
What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of STINAG Stuttgart Invest, it has a TSR of -35% for the last 3 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
A Different Perspective
The last twelve months weren't great for STINAG Stuttgart Invest shares, which cost holders 9.7%, including dividends, while the market was up about 7.7%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Unfortunately, the longer term story isn't pretty, with investment losses running at 10% per year over three years. We'd need clear signs of growth in the underlying business before we could muster much enthusiasm for this one. It's always interesting to track share price performance over the longer term. But to understand STINAG Stuttgart Invest better, we need to consider many other factors. Case in point: We've spotted 3 warning signs for STINAG Stuttgart Invest you should be aware of.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on German exchanges.
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In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...
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summarize: The Goldman Sachs Group, Inc. (NYSE:GS) will increase its dividend from last year's comparable payment on the 28th of September to $2.75. This will take the annual payment to 3.4% of the stock price, which is above what most companies in the industry pay.
See our latest analysis for Goldman Sachs Group
Goldman Sachs Group's Earnings Easily Cover The Distributions
We like to see robust dividend yields, but that doesn't matter if the payment isn't sustainable. Prior to this announcement, Goldman Sachs Group's dividend was comfortably covered by both cash flow and earnings. This indicates that a lot of the earnings are being reinvested into the business, with the aim of fueling growth.
Over the next year, EPS is forecast to expand by 63.8%. If the dividend continues on this path, the payout ratio could be 31% by next year, which we think can be pretty sustainable going forward.
Goldman Sachs Group Has A Solid Track Record
The company has a sustained record of paying dividends with very little fluctuation. Since 2013, the dividend has gone from $2.00 total annually to $11.00. This works out to be a compound annual growth rate (CAGR) of approximately 19% a year over that time. It is good to see that there has been strong dividend growth, and that there haven't been any cuts for a long time.
The Dividend Looks Likely To Grow
The company's investors will be pleased to have been receiving dividend income for some time. We are encouraged to see that Goldman Sachs Group has grown earnings per share at 13% per year over the past five years. Earnings are on the uptrend, and it is only paying a small portion of those earnings to shareholders.
Goldman Sachs Group Looks Like A Great Dividend Stock
Overall, a dividend increase is always good, and we think that Goldman Sachs Group is a strong income stock thanks to its track record and growing earnings. Earnings are easily covering distributions, and the company is generating plenty of cash. Taking this all into consideration, this looks like it could be a good dividend opportunity.
Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. However, there are other things to consider for investors when analysing stock performance. As an example, we've identified 2 warning signs for Goldman Sachs Group that you should be aware of before investing. Is Goldman Sachs Group not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks.
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The Goldman Sachs Group, Inc. ( NYSE:GS ) will increase its dividend from last year's comparable payment on the 28th of...
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summarize: Want a smart alarm clock to help you get back to work (or school) now that September is fast approaching? Amazon might help. The internet giant is running a sale on Echo devices, and the latest Echo Show 5 is on sale for only $55, or an even $30 below its official price. You'll get a similar discount on the Echo Show 5 Kids model, which sells for $65 (down from $95) with a year of Amazon Kids+ service thrown in. Both prices are much lower than we saw just a few weeks ago.
Buy Echo Show 5 at Amazon - $55
Buy Echo Show 5 Kids at Amazon - $65
If you'd prefer something larger, the current-generation Echo Show 8 has dipped to $100, a $30 savings. That's only $5 higher than Amazon's Prime Day sale price for the previous-generation model. And if you prefer Alexa on your face, the second-generation Echo Frames are down to an all-time low price of $180 (versus the usual $250).
Buy Echo Show 8 at Amazon - $100
Buy Echo Frames at Amazon - $180
The Echo Show 5 and 8 screens are subtle updates, but that's not necessarily a problem. The Show 5 remains a handy nightstand companion, with solid sound quality for the money and a 2MP camera for video chats with family (there's a physical privacy shutter). The Show 8, meanwhile, has both strong sound quality and a 13MP wide-angle camera that can track you as you walk around. It may hit the sweet spot if you're looking for a kitchen display that will help you chat with friends while you cook dinner.
The same catches remain. The on-screen interface for the Echo Show family isn't quite as intuitive as with Google's Nest Hub devices, and you'll miss out on streaming services like Disney+ and HBO Max. The Echo Show isn't for you if you want to revisit Loki or Hacks. Amazon still has a very robust smart home ecosystem, though, and the wide range of Alexa skills could be helpful if you ever need a specialized voice app.
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Amazon has multiple Echo devices on sale, including an Echo Show 5 smart display that costs just $55.
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summarize: NEW YORK, Sept. 20, 2021 /PRNewswire/ -- The "Content Delivery Network Security Market by End-user and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the Content Delivery Network Security Market between 2021 and 2025 is USD 7.71 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Click Here.
Key Market Dynamics:
Market Driver
Market Challenges
The growing consumption of online content is notably driving the CDN security market growth However, factors such as system integration and interoperability issues may impede the market growth.
To learn about additional key drivers, trends, and challenges available with Technavio.
Take a look at our FREE Sample Report right now!
The CDN security market growth is segmented by end-user (media and entertainment, retail, IT and telecommunication, public sector, and others) and geography (North America, Europe, APAC, South America, and MEA). 39% of the market's growth will originate from North America during the forecast period. The US is a key market for content delivery network security in North America.
View our sample report for accurate prediction of the contribution of all the segments & regional opportunities in store.
Companies Mentioned
Akamai Technologies Inc.
Alphabet Inc.
Amazon.com Inc.
Broadcom Inc.
CenturyLink Inc.
To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports :
Hyper-Converged Infrastructure Market Report -The hyper-converged infrastructure market has the potential to grow by USD 32.56 billion during 2021-2025, and the market's growth momentum will decelerate at a CAGR of 25.78%.Download a free sample report now!
Green Data Center Market Report -The green data center market has the potential to grow by USD 76.59 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 19.48%. Download a free sample report now!
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-users
Market Segmentation by Geography
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/are-you-aware-of-the-trends-drivers--challenges-for-content-delivery-network-cdn-security-market-301379096.html
SOURCE Technavio
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The "Content Delivery Network Security Market by End-user and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
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summarize: MOUNTAIN VIEW, Calif., April 20, 2022 /PRNewswire/ -- OZY Media, the award-winning news and entertainment company, is announcing that Daniel Kelley, an award-winning creative professional with decades of experience in New York, Los Angeles, and the Bay Area, is joining OZY to lead a range of multimedia projects as its new Creative Director.
A graduate of the University of California - Davis, Kelley brings clear talent, managerial experience, and a patient and thoughtful eye to OZY Media. As Creative Director, Kelley will work across all departments with an initiative to deliver the brand a consistent and engaging image. His style will be a key driver in OZY's maturation into a leading global media company. "I'm thrilled to join OZY and support its worldwide community of journalists, executives, readers, and influencers – many of whom also have great stories to tell. This is the kind of position where you cannot just be in the game but help raise up others as well."
Kelley has worked with some of the best-known brands in the world, including but not limited to Time Magazine, Urban Outfitters, AT&T, Bumble and Bumble, and Victoria's Secret. His creative work has included directing music videos, stop motion animation, painting, and illustration, animatronics, fabrication, and tattooing. This bridging of commercial and personal artistry gives him an uncommon perspective and ability to avoid limited and formulaic work. His most recent role was as Vice President and Creative Director with GreenBiz in Oakland, CA.
"Daniel is a visionary, and a great addition to the company," said Michael Moe, Chairman of the OZY Media Board. "His cross-channel experience and distinctive eye means that OZY won't only get the look it needs today, but the kind of leadership that will keep us ahead tomorrow. It's one thing to work with a creative pro that can raise you in the short-term. It's quite another to have one that can lead and learn from others and grow in the role. We expect Daniel to play a major role across the OZY community."
Kelley is the sixth major team announcement from OZY Media in the last few weeks, following David Lawrence, former Goldman business intelligence chief and federal prosecutor, who joined the OZY Board as Senior Advisor; Michael Safran, former Time Inc, Gannett and Bloomberg executive, who joined the company as Chief Revenue Officer; Mukul Pandya, former Founding Editor-in Chief of Wharton's online Business Review and Executive Director of Knowledge@Wharton(K@W), who joined OZY as Senior Editor-at-Large; Aparna Ranganathan who joined as Vice President of Human Resources, and Beverly Watson, Managing Editor.
ABOUT OZY
Launched in 2013, OZY has built a diverse and unique voice in media, including 5 newsletters, 12 tv shows, 9 podcasts, and 4 festivals. In 2020, OZY won an Emmy Award for its ground-breaking television program, Black Women OWN the Conversation.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ozy-media-hires-award-winning-designer-boards-daniel-kelley-as-creative-director-301529683.html
SOURCE OZY Media
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OZY Media, the award-winning news and entertainment company, is announcing that Daniel Kelley, an award-winning creative professional with decades of experience in New York, Los Angeles, and the Bay Area, is joining OZY to lead a range of multimedia projects as its new Creative Director.
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summarize: New leaders to elevate product portfolio, customer-centric commercial capabilities, and sales and marketing execution
SALT LAKE CITY, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced the addition of five senior executives to help further strengthen the company’s product roadmap and improve commercial execution.
Marc Leighton recently joined Myriad as Senior Vice President (SVP) for Product Management. Leighton is responsible for leading product strategy across the organization. He has more than 15 years of experience in healthcare and has held various product leadership roles in both global device and software, most recently as SVP of Product at Florence Healthcare.
Glenn Farrell recently joined Myriad as SVP and Chief Marketing Officer (CMO). Farrell is responsible for leading the brand, digital marketing, and communications strategy for the enterprise. He has more than 25 years of experience leading brand strategy and successful go-to-market programs in healthcare, life sciences and technology. He most recently served as the CMO and founding team member at Sema4 Holdings Corp.
Lisa Olson-Coombe recently joined Myriad as VP of Lab Transformation. Olson-Coombe is responsible for leading Myriad’s effort to move and upgrade the primary labs in Salt Lake City and South San Francisco. She has more than 20 years of experience in managing diagnostic lab operations at scale, most recently serving as VP of Laboratory Operations at Exact Sciences Corp.
John Oberg will join Myriad as SVP of Business Development effective Jan. 3, 2023. Oberg will be responsible for growing business partnerships and building collaborations with biotech companies, healthcare networks, health systems and academic partners. He has more than 15 years of experience in the areas of healthcare, genomics and precision medicine, most recently serving as Head of Business Development at Invitae Corp.
Michael Lyons will join Myriad as General Manager of Oncology effective Jan. 3, 2023. Lyons will lead the oncology go-to-market strategy and oversee sales, marketing, medical affairs and customer service team members. He has more than 20 years of experience in healthcare, with expertise in the oncology space. He previously served as the SVP of North America at Novocure Ltd.
“We are pleased to welcome Marc, Glenn, Lisa, John, and Michael to the Myriad team. They are all accomplished leaders who will each play an instrumental role in accelerating the growth of our commercial business forward and elevating our products to their full potential,” said Paul J. Diaz, president and CEO, Myriad Genetics. “Their combined depth of experience in healthcare and respective areas of expertise will continue to enrich our strong foundation for long-term sustainable growth, profitability and innovation.”
About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. Fast Company named Myriad among the World’s Most Innovative Companies for 2022. For more information, visit www.myriad.com.
Myriad, the Myriad logo, BRACAnalysis, BRACAnalysis CDx, Colaris, Colaris AP, MyRisk, Myriad MyRisk, MyRisk Hereditary Cancer, MyChoice CDx, Prequel, Prequel with Amplify, Amplify, Foresight, Precise, FirstGene, SneakPeek, Health.Illuminated., RiskScore, Prolaris, GeneSight, and EndoPredict are trademarks or registered trademarks of Myriad Genetics, Inc. © 2022 Myriad Genetics, Inc. All rights reserved.
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New leaders to elevate product portfolio, customer-centric commercial capabilities, and sales and marketing execution SALT LAKE CITY, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced the addition of five senior executives to help further strengthen the company’s product roadmap and improve commercial execution. Marc Leighton recently joined Myriad as Senior Vice President (SVP) for Product Management. Lei
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summarize: Tesla is once again recalling hundreds of thousands of cars over a technical issue. According to Reuters, he EV producer has recalled 578,607 Model 3, S, X and Y vehicles over concerns the Boombox feature can overpower Pedestrian Warning System sounds. The ability to play external audio while the car is in motion violates a federal safety rule requiring a clearly audible sound when EVs and hybrids are moving at speeds below 18.6MPH.
As with some of its recalls, the company will address the issue with a free over-the-air update. The patch will disable Boombox while cars aren't parked, Tesla said. The company didn't provide a timeframe for the update, but noted it would affect 2017 and newer Model 3 sedans as well as 2020 and newer Model S, X and Y vehicles.
Tesla wasn't available for comment. The company disbanded its communications team years ago.
This latest notice represents Tesla's fourth announced recall in two weeks. On top of a seat belt chime fault, the brand recently issued recalls over Full Self Driving flaws and slow heating systems. Tesla is fixing all of these problems through software, but they come after recalls in the past year for physical defects like fragile rearview camera systems and loose trim. There have been 15 recalls since the start of 2021. The issues have typically been minor, but they've still fuelled broader quality concerns.
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Tesla is recalling more than 578,000 cars over concerns the Boombox feature would overpower pedestrian warning sounds.
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summarize: The FAA said SpaceX can expand a launch site once it complies with 75 terms, angering Texas locals.
An environmental non-profit claimed the FAA didn't properly reach out to those impacted.
One local said SpaceX should be shut down, while another said the FAA failed the community.
Locals in south Texas said the Federal Aviation Administration (FAA) had let them down after it found no significant environmental impact with SpaceX's launch site in Boca Chica.
After an almost two-year wait, the FAA concluded in a 43-page review that Elon Musk's space company can expand its Texas launch site but only if the company takes more than 75 actions to mitigate the environmental impacts.
If SpaceX complies with the 75 terms, it will receive a license so it can expand the facility, known as Starbase, and launch its massive Starship rocket into orbit for the first time.
Sierra Club, an environmental nonprofit, sent a statement to Insider, claiming the FAA didn't meaningfully reach out to impacted communities while it was conducting the review. The organization also claimed SpaceX's site expansion and its launch of Starship — the rocket it wants to send to Mars — will significantly cause more damage to the surrounding wildlife and communities.
"The FAA has failed the people of the Rio Grande Valley and the People of Texas," Dave Cortez, a director within Sierra Club, said in the statement. The organization "strongly condemns" the FAA's decision and is calling on officials to consider the negative effects of SpaceX's expansion in the area, he added.
Juan Mancias, chairman of the Carrizo/Comecrudo tribe, said in the statement that the FAA should have requested a full environmental review into SpaceX's activity.
"This land, this beach, does not belong to Elon Musk and is not a commodity for his delusions of intergalactic grandeur," Mancias said. "SpaceX as a whole needs to be shut down."
Sierra Club organizer Emma Guevara, also a resident, described the FAA's decision in the statement as "incredibly disappointing and frustrating."
While Michelle Serrano, a communications strategist with Latino-led nonprofit Voces Unidas, said in the statement that elected officials and government leaders have to listen to the community and prevent the destruction of Boca Chica Beach, where SpaceX is based.
SpaceX and the FAA didn't immediately respond to Insider's request for comment made outside of normal working hours.
"One step closer to the orbital flight test of Starship," SpaceX tweeted on Monday, linking to the FAA's review. The FAA started its review of SpaceX's launch site in July 2020 and was supposed to be finished by December 2021.
Locals in Brownsville — considered one of the poorest cities in the US, according to a 2018 analysis — have previously told Insider about SpaceX's impact on the surrounding environmental habitats, as well as rising house prices.
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One local said SpaceX should be shut down, while an environmental non-profit said the FAA didn't properly reach out to impacted residents.
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summarize: This acquisition will allow Talan to accelerate its North American development in consulting and deployment of SAP, Microsoft, Oracle and IBM solutions. With this transaction, Talan will become a key player in Canada and North America with nearly 500 clients.
MONTRÉAL, Jan. 13, 2022 /CNW Telbec/ - Talan has entered into an agreement to acquire Createch, a strategic player in Canada's technology services and solutions sector. This acquisition is part of the trajectory initiated in 2019 with the integration of Planaxis in Canada, in 2021 with Projexia through the PASàPAS acquisition, and last November with the acquisition of Insum. With this external growth strategy, Talan will significantly strengthen its presence in North America, with Montréal as its Canadian headquarters, with more than 650 employees and revenues of CAD 120 million.
Createch is a Canadian company specializing in designing and implementing technology services and solutions for its clients, particularly in the industrial, distribution, retail, financial, service and public sectors. This transaction will allow Talan to now serve 500 clients around the world. Thanks to the know-how of Createch's nearly 300 employees, this acquisition will allow Talan to benefit from complementary expertise while strengthening its premium positioning in innovation and transformation through technology consulting. It will also create numerous synergies for the benefit of its clients.
As part of this transaction, the Createch entity and brand will be retained and the existing team will continue its operations. The acquisition is expected to close in Q1, 2022.
"We are very pleased that Createch is joining the Talan adventure. This project is part of our "Ambition 2024" plan, in which we expect to have 10,000 employees within the group, including more than 3,000 in North America, to meet the growing needs of major groups and public sector players in terms of innovation and digital transformation across the value chain. Their high level of expertise in major market solutions allows us to reach critical mass in North America. Beyond our complementary business, we share with Createch strong human values that are part of our group's DNA such as solidarity, integrity, excellence, humility, empathy and energy. These shared values perfectly embody our raison d'être: 'We believe that only a humanist practice of technology will make the new digital age an era of progress for all'," said Mehdi Houas, president of the Talan Group.
"We are delighted to join forces with the Talan Group. This partnership will allow us to increase our impact on the North American market, thanks to our complementary expertise. Talan's 4,000 employees are an important asset in providing a wide range of solutions to our clients," said Hélène Kyriakakis, President of Createch.
About Talan
Talan is a consulting firm specializing in digital innovation and transformation. For over 20 years, Talan has been advising, supporting and implementing transformation projects for businesses and public authorities, in France and abroad. With operations on five continents and nearly 6,000 consultants, the group anticipates revenues of 600 million euros in 2022, and expects a turnover of 1 billion euros by 2024. The group places innovation at the heart of its development strategy and is involved in areas of technological change affecting major corporations, such as Big Data, the Internet of Things, Blockchain and Artificial Intelligence. By placing the "humanist approach to technology" at the center of its strategy, the Talan Group is convinced that it is by serving people that technology multiplies its potential for society.
SOURCE Talan
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Talan has entered into an agreement to acquire Createch, a strategic player in Canada's technology services and solutions sector. This acquisition is part of the trajectory initiated in 2019 with the integration of Planaxis in Canada, in 2021 with Projexia through the PASàPAS acquisition, and last November with the acquisition of Insum. With this external growth strategy, Talan will significantly strengthen its presence in North America, with Montréal as its Canadian headquarters, with more than
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summarize: PARIS (AP) — Apple has agreed to install updates for the iPhone 12 in France after French regulators ordered the company to stop selling the model because it emits electromagnetic radiation levels that exceed European Union standards.
The company, which just unveiled its newest generation of iPhones, insists the 12 model is safe and the phones have been certified in countries around the world since its introduction in 2020. It says the problem raised by the French government agency that manages wireless communications frequencies is “related to a specific testing protocol.”
The French agency said the iPhone 12 recently failed one of two types of tests for electromagnetic waves capable of being absorbed by the body. On Tuesday, France’s government ordered a halt to sales of the iPhone 12 and told Apple to issue a software update to address the problem or face a recall.
Apple said in a statement Friday that it “will issue a software update for users in France to accommodate the protocol used by French regulators.” It did not elaborate.
The French ban could have extended to all 27 EU countries after three months if Apple had refused to issue updates and if no other government objected, European Commission spokesperson Sonya Gospodinova said Thursday.
France’s digital affairs minister said the iPhone 12’s radiation levels are still much lower than what scientific studies consider potentially harmful to users, and the radiation agency acknowledged that its tests don’t reflect typical phone use.
Cellphones have been labeled as possible carcinogens by the World Health Organization’s cancer research arm, putting them in the same category as coffee, diesel fumes and the pesticide DDT. The radiation produced by cellphones cannot directly damage DNA and is different from stronger types of radiation like X-rays or ultraviolet light.
Experts have recommended that people concerned about their cellphone radiation exposure use earphones or switch to texting.
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Apple has agreed to install updates for the iPhone 12 in France after French regulators ordered the company to stop selling the model because it emits electromagnetic radiation levels that exceed European Union standards. The French agency said the iPhone 12 recently failed one of two types of tests for electromagnetic waves capable of being absorbed by the body. On Tuesday, France’s government ordered a halt to sales of the iPhone 12 and told Apple to issue a software update to address the problem or face a recall.
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summarize: Learning Opportunity Stripped Away: Baachu, Trusted Learning Provider of Professional Training for Underprivileged Students and Government Contractors Loses Approved Status Amidst Controversy
Baachu Alleges Unfair Treatment by APMP Board: Claims Lack of Evidence and Unjust Hearing Process
Empowering the Next Generation: 1600+ APMP-Certified Professionals Trained in Tender & Proposal Writing by Baachu since 2020
LONDON, Feb. 7, 2023 /PRNewswire/ -- Baachu, the champion of professional training for emerging economies and underprivileged communities proudly announces its return after being unjustly targeted by the Association of Proposal Management Professionals (APMP). Undeterred, Baachu is steadfast in its mission to democratize bidding knowledge and empower business-winning professionals across the globe.
APMP, the leading global professional body for contractors securing business through proposals, bids and tenders, revoked Baachu' s Approved Training Organization (ATO) status in December 2022. Baachu maintains that APMP is yet to provide any evidence of a breach of the Association's policies, and has failed to offer a fair and independent hearing process.
During the three years that Baachu was a recognised ATO for APMP, it had a substantial impact on the bid and proposal management community. The company dedicated 6200 hours to promoting professional growth in underprivileged communities, certifying more than 1600 professionals around the world, and awarding $70,000 in scholarships and discounts to underprivileged students. Baachu' s popular podcast, Scribble Talk, featuring APMP stories of 176 industry leaders, reached listeners in 81 countries.
Despite this, in a letter outlining its decision to revoke Baachu' s ATO status, the APMP International Board of Directors accused Baachu of creating a competitor to the APMP brand and promoted its own certifications as a "cheaper alternative".
Following a one-sided hearing with no evidence and a mere 7 minutes for Baachu' s CEO to defend against allegations, the APMP Executive Committee voted unanimously to uphold their decision.
This unfortunate case highlights the importance of professional organizations having fair and impartial processes in place for handling grievances and disputes, including independent bodies to investigate allegations of unfair treatment or bias. The APMP's handling of Baachu' s ATO status revocation serves as a warning to all professional organizations to uphold the highest ethical standards and maintain proper governance procedures.
At Baachu, our commitment to our APMP students and corporate clients remain unwavering, even after the revocation of our APMP ATO status. We are still the foremost provider of professional training, constantly striving for equal educational access for all. With a 100% success rate at all APMP certifications and a 100% money-back guarantee, you can trust that our current, accurate and complete materials will give you the best chance of passing your APMP exam. Unleash your full potential and join the ranks of the 1600 APMP students from 31 countries who have trusted Baachu for their APMP Professional Certification journey.
Baskar Sundaram, CEO of Baachu, said: Despite facing challenges from the APMP Board, Baachu remains steadfast in its dedication to enhancing the professional growth of bid and proposal professionals through access to the industry's premier business-winning tools and training resources offered by our academy.
As we resume our training operations, I am determined to champion fairness, equality and to foster a positive, inclusive culture within the APMP community. My vision is to rally every member of the APMP to stand together in creating a thriving and fair environment for all to succeed.
Media Contact:
Baskar Sundaram
+447718193599
[email protected]
View original content to download multimedia:https://www.prnewswire.com/news-releases/baachu-resumes-training-operations-following-dispute-with-apmp-301739722.html
SOURCE Baachu
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Baachu, the champion of professional training for emerging economies and underprivileged communities proudly announces its return after being unjustly targeted by the Association of Proposal Management Professionals (APMP). Undeterred, Baachu is steadfast in its mission to democratize bidding knowledge and empower business-winning professionals across the globe.
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summarize: Humana Inc (NYSE: HUM) disclosed the appointment of healthcare industry veteran Jim Rechtin as President and Chief Operating Officer, effective January 8, 2024.
The move comes as part of the company's long-planned CEO transition.
Rechtin will report to Bruce Broussard, CEO, until the latter half of 2024. Broussard will then step down, and Rechtin will take the CEO role.
Rechtin has over 22 years of health care experience focusing on delivering value-based care in several medical group settings, including a deep understanding of Medicare Advantage.
"The board of directors has worked diligently to find the right leader who can take Humana into the next phase of growth and transformation," said Kurt Hilzinger, Chairman of the Humana Board. "Jim brings a strong combination of operational, industry and CEO expertise. His first-hand experience leading through challenges and opportunities of a changing health care services continuum will help accelerate our integrated care strategy at pace."
The company will release Q3 2023 results on November 1, 2023.
Price Action: HUM shares are trading lower by 2.79% at $486.44 premarket on the last check Wednesday.
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This article Health Insurer Humana Ropes In Former UnitedHealth Executive To Assume CEO Role In 2024 originally appeared on Benzinga.com
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Humana Inc (NYSE: HUM) disclosed the appointment of healthcare industry veteran Jim Rechtin as President and Chief Operating Officer, effective January 8, 2024. The move comes as part of the company's long-planned CEO transition. Rechtin will report to Bruce Broussard, CEO, until the latter half of 2024. Broussard will then step down, and Rechtin will take the CEO role. Rechtin has over 22 years of health care experience focusing on delivering value-based care in several medical group settings,
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summarize: New partnership to result in innovative AI-driven viewing experiences and new revenue streams for manufacturers and programmers
ST. LOUIS, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Disruptel, the interactive TV and AI innovator changing the way consumers interact with their connected televisions, today announced a new partnership with TCL, one of the world’s best-selling consumer electronics brands and leading technology companies. The partnership was previewed at CES last week. Through the partnership, the two companies will develop new AI-powered features, enabling users to see information related to what’s on-screen and ask questions about what they’re watching.
Founded in 2017, St. Louis-based Disruptel has developed an AI platform that processes and understands video content in real-time. The company uses this platform to create next-generation viewing experiences for consumers while enabling brands to reach and engage with viewers using advanced contextual ad targeting. Disruptel’s unique targeting solution gives brands the ability to reach consumers with immersive and compelling messaging while always maintaining user privacy.
“Our new partnership with TCL will enable us to create the world’s smartest TVs, changing the way viewers consume and interact with CTV content,” said Alex Quinn, CEO of Disruptel. “Global TV manufacturers like TCL have the opportunity to reshape what it means to enjoy CTV, and we’re excited to have found a partner committed to innovating in this space. Together we are manufacturing an even smarter TV viewing experience that connects hardware, software, programmers, and advertisers directly for the first time.”
The new partnership will enable viewers to interact seamlessly with the content on their screens through an array of groundbreaking features, including real-time recognition of on-screen actors and actresses, in-stream commerce experiences, and the world’s first voice assistant with visual awareness (e.g., “Who is the actress in the red dress?”). These features will enable an enhanced viewer experience while also facilitating expanded revenue stream possibilities for programmers and advertisers, offering a new, direct channel for targeted marketing and engagement.
“Connected TV continues to evolve, and TCL’s mission is to lead the industry in creating engaging viewing experiences,” said Shaoyong Zhang, CEO of TCL Electronics. “By using their visionary voice assistant technology, Disruptel allows us to create groundbreaking new ways for viewers to interact with Smart TV’s and Connected TV content. By eliminating the need for a second screen while watching TV, this partnership will increase engagement and develop new viewing opportunities.”
“Disruptel is at the forefront of artificial intelligence, leading the way with its applications within video and TV,” said Adam Cheyer, voice assistant industry expert and co-founder of Siri (acquired by Apple) and Viv Labs (Bixby). “The company’s platform represents the next generation of voice assistants, powering a multi-modal solution that can meld voice requests with on-screen visual content and respond accordingly.”
ABOUT DISRUPTEL
Disruptel develops visually-aware artificial intelligence solutions to enhance the TV and CTV viewing experience and help OTT providers build their audiences and ARPU. Based in St. Louis, Disruptel’s Context and Smart Screen platforms allow users to interact with their Connected TV’s using the first voice-activated AI that can “see”, providing information on the people, places, and products that appear on-screen. Disruptel’s products operate in real-time without the need to preprocess content, facilitating improved targeting of advertisements and seamless purchasing of on-screen products. For more information, visit www.disruptel.com.
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New partnership to result in innovative AI-driven viewing experiences and new revenue streams for manufacturers and programmersST. LOUIS, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Disruptel, the interactive TV and AI innovator changing the way consumers interact with their connected televisions, today announced a new partnership with TCL, one of the world’s best-selling consumer electronics brands and leading technology companies. The partnership was previewed at CES last week. Through the partnership,
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summarize: At the start of the week, Google announced it was finally adding support for 4K streaming to YouTube TV. Now the company is attempting to entice existing YouTube TV subscribers to sign up for the pricey $20 monthly add-on with a promotion that dangles a free Chromecast with Google TV.
A YouTube TV subscriber detailed the offer in a forum post spotted by Droid Life. "To ensure our loyal YouTube TV members have a great viewing experience (including the ability to watch 4K content on our optional, new add-on service), we would like to offer you a free Chromecast with Google TV device," the company says in an email it sent out to some customers.
Taking advantage of the promo involves visiting the Google Store to “purchase” the streaming device at no cost. As you might have guessed, supplies are limited, and the code is only valid for the white model. The email’s fine print also states only those in the US with an active YouTube TV subscription are eligible. What’s more, you’ll need to have made at least one payment to Google. If you find the email in your inbox, you’ll need to redeem it before the end of the month. And if you already own a Chromecast with Google TV, the code is not transferable.
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Google is attempting to entice existing YouTube TV subscribers to sign up for its pricey 4K add-on with a promotion that dangles a free Chromecast with Google TV.
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summarize: The company also unveils a new heavy-duty electric truck brand Giant Haul (Yuandong) New Energy Auto at the launch event.
SHANGHAI, Jan. 10, 2022 /PRNewswire/ -- On January 8, 2022, Linkdata New Energy Co., Ltd, a leading Chinese manufacturer of lithium-ion batteries, held a product launch event for its 26-46mm diameter series of cylindrical lithium-ion battery products at the Shanghai Tower. By unveiling these new flagship products, the 26mm SPEED2, the 37mm SPEED3, and the 46mm SPEED4 family cells, Linkdata showcases the company's high-end cylindrical cells and its focused design concept "More Than One Answer" - for the big cylindrical cell field, there should not only be Tesla's 46800-tabless solution.
In September 2021, Linkdata rolled out its high-performance fast-charging cell product series SPEED with distinctive product features, including up to 400 kilometers e-charge with 8 minutes of charging, achieving 800-1200 cycles of fast charging, and an energy density of 260 Wh/kg at the cell level. The SPEED product series covers cylindrical and prismatic formats, achieves industry-leading performance for several key indicators using high nickel cathode and SiOx anode, delivers a high level of safety for single cells, and supports achieving system-level safety of No-Thermal-Propagation (NTP). Furthermore, as Linkdata's fast-charging power batteries are about to enter mass production this year, large pre-orders from Chinese and international carmakers are already coming in, signaling that the firm is well-positioned to supply high-performance, high-quality lithium-ion battery/cell products to the global electric vehicle (EV) market.
Dr. Yang Sitao, Linkdata's Chief Technology Officer & Vice President explained that, unlike Tesla's 46800 cells, in terms of the structural design and functional materials, the SPEED4 products have improved thermal conductivity and reduced internal resistance, while its robust systems are designed to lower cost and improve performance, making it more suitable for family cars. Meanwhile, the SPEED3 family avoids multiple challenges facing the 46mm products, such as manufacturing process, thermal conductivity, power, and structural design. At the same time, it offers a higher energy density than the 26mm cells and delivers a more balanced overall performance, making it an ideal solution for high-end passenger vehicles.
"We are confidently optimistic about the long-term growth of the EV sector," said Linkdata Chairman Yan Zidian. "With extensive experience in developing customized products in collaboration with many international partners, Linkdata plans to continue its commitment to developing new lithium batteries."
Another highlight of Linkdata's launch event is the unveiling of a new heavy-duty electric truck brand Giant Haul (Yuandong). The brand's universal electrification platform for EHDT EVs satisfies all vehicle requirements for 6x4 semi-trailer trucks. In addition, Giant Haul can also provide a range of complete vehicles based on its platform solutions and features the application of several key technologies, including complete vehicle control systems, electric drives, intelligent systems, and charging/battery swapping.
View original content to download multimedia:https://www.prnewswire.com/news-releases/top-chinese-lithium-ion-battery-provider-linkdata-launches-flagship-26-46mm-cylindrical-cell-family-products-301456834.html
SOURCE Linkdata New Energy Co., Ltd
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On January 8, 2022, Linkdata New Energy Co., Ltd, a leading Chinese manufacturer of lithium-ion batteries, held a product launch event for its 26-46mm diameter series of cylindrical lithium-ion battery products at the Shanghai Tower. By unveiling these new flagship products, the 26mm SPEED2, the 37mm SPEED3, and the 46mm SPEED4 family cells, Linkdata showcases the company's high-end cylindrical cells and its focused design concept "More Than One Answer" - for the big cylindrical cell field, ther
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summarize: By Chavi Mehta
(Reuters) - Generative AI-related job postings in the United States jumped about 20% last month as companies look to harness a technology that has been widely touted as the next big growth driver, according to data from job portal Indeed.
The May figure, at 204 per million job postings, was also more than double the 2021 level and underscored the buzz around AI, sparked by the runaway success of OpenAI's ChatGPT.
Data scientist roles made up 5% of the AI job postings on Indeed's U.S. platform, while roles such as software engineer, machine learning engineer and data engineer were also in demand.
"There has been a notable increase in job seeker interest in AI-related jobs, especially since the introduction of ChatGPT," said Nick Bunker, director of economic research at Indeed.
The jump comes at a time when the broader tech job market is under pressure from mass layoffs at companies such as Meta Platforms and Amazon.com Inc, which are tightening their belts to cope with an uncertain economy.
Overall, tech jobs are down 43.6% in the United States from June last year, Indeed said, adding the number of available AI jobs was not keeping up with the interest from job seekers.
Indeed's data showed that searches for generative AI jobs jumped to 147 per million total jobs searched in May from virtually zero a year earlier.
Its U.S. website showed generative AI job listings from companies such as Meta Platforms, Apple, Tiktok, Pinterest and Amazon.com.
(Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva)
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Generative AI-related job postings in the United States jumped about 20% last month as companies look to harness a technology that has been widely touted as the next big growth driver, according to data from job portal Indeed. The May figure, at 204 per million job postings, was also more than double the 2021 level and underscored the buzz around AI, sparked by the runaway success of OpenAI's ChatGPT. Data scientist roles made up 5% of the AI job postings on Indeed's U.S. platform, while roles such as software engineer, machine learning engineer and data engineer were also in demand.
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summarize: NEW YORK, Aug. 23, 2021 (GLOBE NEWSWIRE) -- WeissLaw LLP, who was Lead Derivative Counsel in the massive Equifax data breach litigation, announces an investigation of T-Mobile, US, Inc. (NASDAQ: TMUS) (“T-Mobile” or the “Company”), its Board of Directors, and certain Company officers for, among other things, possible breaches of fiduciary duty and violations of the federal securities laws.
If you own T-Mobile shares and wish to discuss this investigation, or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/tmus/
Or please contact:
Josh Rubin, Esq
[email protected]
(888) 593-4771.
There is no cost or obligation to you.
On August 16, 2021, T-Mobile issued a press release disclosing a massive data breach perpetrated against its systems by hackers – the fifth such data breach against T-Mobile in the last four years. Two days later, the Company acknowledged that hackers made off with personal data from nearly 48 million people, including 7.8 million current postpaid customers and about 40 million former and prospective customers who applied for plans. T-Mobile revealed that the stolen data “include customers’ first and last names, date of birth, SSN, and driver’s license/ID information for a subset of current and former postpay customers and prospective T-Mobile customers.” The Company further admitted that “approximately 850,000 active T-Mobile prepaid customer names, phone numbers and account PINs were also exposed.”
Following disclosure of the security breach, shares in T-Mobile dropped $4.21, or about 2.9%, closing on August 16, 2021, at $140.74 per share.
On August 18, 2021, Reuters reported that the U.S. Federal Communications Commission (the “FCC”) will investigate the T-Mobile data breach. “Telecommunications companies have a duty to protect their customers’ information. The FCC is aware of reports of a data breach affecting T-Mobile customers and we are investigating,” an FCC spokesperson told Reuters.
WeissLaw is investigating whether T-Mobile’s Board of Directors: failed to properly safeguard, secure and protect the Company from attacks by hackers; failed to heed warnings of lax cybersecurity practices based on the recent prior attacks in 2018, 2019, and 2020; failed to establish and maintain a comprehensive system of internal controls over its cybersecurity practices; and breached its fiduciary duties owed to T-Mobile and its shareholders.
If you wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please visit our website at https://www.weisslaw.co/news-and-cases/TMUS/ or contact Josh Rubin at [email protected] or (888) 593-4771. For more information about the firm, please go to: http://www.weisslaw.co.
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NEW YORK, Aug. 23, 2021 (GLOBE NEWSWIRE) -- WeissLaw LLP, who was Lead Derivative Counsel in the massive Equifax data breach litigation, announces an investigation of T-Mobile, US, Inc. (NASDAQ: TMUS) (“T-Mobile” or the “Company”), its Board of Directors, and certain Company officers for, among other things, possible breaches of fiduciary duty and violations of the federal securities laws. If you own T-Mobile shares and wish to discuss this investigation, or have any questions concerning this no
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summarize: US stocks traded mostly lower on Tuesday as a spike in oil prices reignited inflation fears.
If inflation reaccelerates, it could force the Federal Reserve to continue with its interest rate hikes.
Fed Governor Chris Waller said recent economic data suggests the Fed can "proceed carefully" with further rate hikes.
US stocks traded mostly lower on Tuesday as oil prices spiked, reigniting investor fears that inflation could tick higher.
Oil prices spiked about 1% to a 10-month high after Saudi Arabia and Russia said they would continue with their oil production cuts into the end of the year.
Any reacceleration in inflation could spark the Federal Reserve to continue with its interest rate hikes, and that would catch investors by surprise. According to the CME FedWatch Tool, futures are currently pricing in no more interest rate hikes for this cycle and a potential interest rate cut by May 2024.
Federal Reserve Governor Christopher Waller told CNBC on Tuesday that the Fed can "proceed carefully" with further interest rate hikes. "There is nothing saying we need to do anything imminent," he said of additional increases, basing his view on recent economic data.
Investors are awaiting more Fedspeak later this week to ascertain whether more interest rate hikes in store.
Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:
S&P 500: 4,496.83, down 0.42%
Dow Jones Industrial Average: 34,641.97, down 0.56% (-195.74 points)
Nasdaq Composite: 14,020.95, down 0.08%
Here's what else happened today:
The strike in Hollywood has wiped out $5 billion from California's economy. Warner Brothers Discovery warned that the strike could hurt the company's 2023 earnings by $500 million.
The chances of a US recession have dropped to just 15% now that the Fed is probably done with hiking interest rates, according to Goldman Sachs.
As the US dollar loses some influence in global oil markets, it could mean that a partial de-dollarization movement can pick up steam, according to JPMorgan.
Chinese property giant Country Garden paid its dollar bond interest within its grace period, narrowly averting a default.
Technical analyst Katie Stockton highlighted the two signals she's waiting to flash before she buys stocks.
In commodities, bonds, and crypto:
West Texas Intermediate crude oil rose 1.22% to $86.59 a barrel. Brent, the international benchmark, jumped 1.04% to $89.95 a barrel.
Gold fell 0.77% to $1,952.00 per ounce.
The yield on the 10-year Treasury bond rose eight basis points to 4.26%.
Bitcoin fell 0.42% to $25,708.
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Any further interest rate hikes would be a surprise to investors, based on the CME FedWatch Tool, which is pricing in a rate cut in May 2024.
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summarize: Global Sheet Metal Market 2022-2026 The analyst has been monitoring the sheet metal market and it is poised to grow by $ 76. 39 bn during 2022-2026 progressing at a CAGR of 4. 14% during the forecast period.
New York, April 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Sheet Metal Market 2022-2026" - https://www.reportlinker.com/p04213405/?utm_source=GNW
Our report on the sheet metal market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth in the machine tools market, growth in the manufacturing sector, and increasing construction activities in developing regions.
The sheet metal market analysis includes the end-user segment and geographic landscape.
The sheet metal market is segmented as below:
By End-user
• Building and construction
• Automotive
• Machinery
• Others
By Geographical Landscape
• APAC
• Europe
• North America
• The Middle East and Africa
• South America
This study identifies the adoption of 3D (3 dimensional) technologies for sheet metal production as one of the prime reasons driving the sheet metal market growth during the next few years. Also, advances in the aluminum market and a rise in the number of skyscrapers will lead to sizable demand in the market.
The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the sheet metal market covers the following areas:
• Sheet metal market sizing
• Sheet metal market forecast
• Sheet metal market industry analysis
This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading sheet metal market vendors that include A and E Manufacturing Co. Inc., ABC Sheet Metal, Acosta Sheet Metal Manufacturing Inc., Alcoa Corp., Arconic Inc., Avitron Components Pvt. Ltd., Baosteel Group Corp., Bud Industries Inc., Constellium SE, General Sheet Metal Works Inc., Hindalco Industries Ltd., Hulamin Ltd., JFE Holdings Inc., Kaiser Aluminum Corp., POSCO, Prototek Holdings LLC, Shanghai Metal Corp., Tata BlueScope Steel Pvt. Ltd., Tata Sons Pvt. Ltd., Tenere Inc., and United States Steel Corp. Also, the sheet metal market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Read the full report: https://www.reportlinker.com/p04213405/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001
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Global Sheet Metal Market 2022-2026 The analyst has been monitoring the sheet metal market and it is poised to grow by $ 76. 39 bn during 2022-2026 progressing at a CAGR of 4. 14% during the forecast period.New York, April 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Sheet Metal Market 2022-2026" - https://www.reportlinker.com/p04213405/?utm_source=GNW Our report on the sheet metal market provides a holistic analysis, market size and forecast, trends,
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summarize: A ransomware attack striking one of the largest human resources companies could impact how employees get paid, clock in for work and track paid time off.
HR management company Ultimate Kronos Group confirmed a ransomware attack impacted several services companies use to manage their employees and payrolls.
The attack, which UKG discovered on Saturday, affects the Kronos Private Cloud, which includes UKG Workforce Central, UKG TeleStaff, Healthcare Extensions, and Banking Scheduling Solutions, said the company.
"We are working with leading cyber security experts to assess and resolve the situation, and have notified the authorities," said Bob Hughes, executive vice president for UKG, in a post on the company's website. "The investigation remains ongoing, as we work to determine the nature and scope of the incident."
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Here's everything we know so far:
How long before it's fixed?
UKG said all products linked to the Kronos Private Cloud are unavailable, and it could take up to several weeks before service is restored.
The company advises customers consider "alternative business continuity protocols" related to any Kronos services they used.
How are affected companies responding?
UKG boasts several notable clients, including Tesla, Puma, the YMCA and several universities and hospitals.
In a statement Monday, the University of Utah said it has established a task force to determine how the ransomware attack may have impacted their systems.
"Paychecks will be distributed on schedule, although there may be adjustments at a later date to reflect corrections as needed," said the university.
The City of Cleveland said its employees will still receive pay without interruption despite the attack, according to local reports.
In a statement Monday, Springfield, Massachusetts., one of Kronos' customers, said the recording of city workers' schedules and hours could be disrupted by the attack.
"The City of Springfield would like to reassure all city employees that contingency plans for recording employee schedules and hours will be implemented to mitigate the potential adverse effects this incident might cause and to make sure that employees will continue to receive their regular scheduled pay," said the city in a statement.
Follow Brett Molina on Twitter: @brettmolina23.
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Ultimate Kronos Group confirmed a ransomware attack impacted several services companies use to manage their employees and payrolls.
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summarize: (Bloomberg) -- Prateek Gupta, the Indian businessman targeted by Trafigura Group over the startling nickel fraud, moved to lift the worldwide freezing order held against him.
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Gupta formally filed his court challenge Friday seeking to lift a $625 million asset freeze against him, his spokesman said without providing further details of his defense.
Trafigura in February accused Gupta and the companies connected to him of perpetrating a “systematic fraud” with details that have sent shockwaves through the metals industry. The trading house turned to the court after finding that nickel cargoes it had bought from him in fact contained no nickel. Trafigura says it expects to lose nearly $600 million.
Gupta has been promising a “robust response” to Trafigura’s accusations since February but the case widened Friday with Bloomberg reporting on lawsuits from the billionaire Reuben brothers who alleged that the fraud didn’t just involve thousands of tons of missing nickel, but also counterfeit shipping documents.
Read: How Citi Helped Lift the Lid on Trafigura’s Nickel Nightmare
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©2023 Bloomberg L.P.
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(Bloomberg) -- Prateek Gupta, the Indian businessman targeted by Trafigura Group over the startling nickel fraud, moved to lift the worldwide freezing order held against him.Most Read from BloombergAfrica’s Richest City Is Crumbling Under Chaos and CorruptionA Goldman Partner’s Sexually Explicit Video Led to Millions in SettlementCrispin Odey’s One-Week Downfall Was Decades in the MakingAlphabet Selling Google Domains Assets to SquarespaceSocial Security Benefits Targeted for Cuts by House Conse
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summarize: In the realm of personal finance challenges, the last couple of years rank among the worst in recent memory. High inflation has sent prices soaring for everything from eggs and gas to homes, cars and apartment rentals. On top of that, more than 40 million federal student loan borrowers are gearing up to resume payments after a three-and-a-half-year pause, bringing even more pressure to the mix.
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Find: How To Get Cash Back on Your Everyday Purchases
Although the 2023 inflation rate is well down from last year — when it peaked at 9.1% — the current rate of about 3% still ranks among the highest of the last decade. Prices of many items remain very high versus previous years, including housing and household essentials.
Meanwhile, the federal student loan payment pause that went into effect in March 2020 is set to expire next month. This means millions of borrowers will have to budget an expense they haven’t had to worry about in a long time.
Overcoming these challenges takes planning, discipline and creativity. Here are five ways Americans are overcoming inflation and the return of student loan payments.
Gas Apps
Gasoline prices have eased in recent weeks as the summer travel season winds down, but they are still up from a year ago, according to AAA. Using gas apps like GasBuddy, Gas Guru and Fuelio can help you track down the best prices in your area and earn rewards to help lower what you pay at the pump.
Deal Groups
Many Americans are turning toward deal groups — such as those found on Facebook — to track items for sale. Rachele Sossong, founder of The Frugal Mom deal group, told USA Today that thousands of items are discounted daily, and some are even free.
Autopay
Student loan borrowers getting ready to resume payments should consider signing up with autopay services to save money. Many lenders and loan servicers offer a 0.25-percentage-point rate deduction when you enroll in autopay. It might seem like a small amount, but over time it can add up to considerable savings.
Bulk Items
You’ve probably heard the saying: “Strike while the iron is hot.” This applies to shopping as well. When you see items in your grocery store or elsewhere that are deeply discounted, buy several of them to save money over the long term. This is especially smart when it comes to non-perishable foods and items you know you’ll use well into the future, such as toilet paper, toothpaste, soap, cleaning products and medicines with a long shelf life.
Related: 10 Best Costco Items To Buy for Less Than $10
Pay Extra on Debts
Because federal student loans payments have been paused since March 2020, many borrowers might have taken advantage by putting the payments they would have made into interest-bearing savings accounts. Now that payments are set to resume, you might consider tapping into those savings to pay extra on future payments, which will allow you to pay off the loans quicker.
It may be wise to contact your loan servicer and request principal-only payments for student loans, which ensures any additional money goes directly toward your outstanding balance.
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In the realm of personal finance challenges, the last couple of years rank among the worst in recent memory. High inflation has sent prices soaring for everything from eggs and gas to homes, cars and...
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summarize: By Max A. Cherney
(Reuters) - The South Korean chip startup Panmnesia has raised a seed round that values it at $81.4 million, the company has said.
Panmnesia's business is focused on developing intellectual property around a technology it calls Compute Express Link (CXL), which allows big data center operators to pool devices such as AI accelerator chips, processors and memory.
Memory is often a bottleneck for crunching data for AI applications, and pooling it CXL technology could make it substantially more efficient, the company says.
"We do not have a standard interface, so it's very difficult to accommodate all the different AI accelerators in the data center," Panmnesia CEO Myoungsoo Jung told Reuters on Tuesday.
Chip design software makers Synopsys and Cadence Design Systems have expressed interest in the company's technology, Jung said. Cadence has a forthcoming trip planned to examine the company's business model and technology more closely.
The company raised $12.5 million led by Daekyo Investment. Other investors included SL Investment, Smilegate Investment, GNTech Venture Capital, Time Works Investment, Yuanta Investment and Quantum Ventures Korea.
The South Korean government aims to spur the domestic AI chip industry and plans to spend $800 million over the next five years in an attempt to increase the share of Korean AI chips in domestic data centers to 80% in 2030 from essentially zero.
(Reporting by Max A. Cherney in San Francisco. Editing by Gerry Doyle)
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The South Korean chip startup Panmnesia has raised a seed round that values it at $81.4 million, the company has said. Panmnesia's business is focused on developing intellectual property around a technology it calls Compute Express Link (CXL), which allows big data center operators to pool devices such as AI accelerator chips, processors and memory. Memory is often a bottleneck for crunching data for AI applications, and pooling it CXL technology could make it substantially more efficient, the company says.
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summarize: By buying an index fund, investors can approximate the average market return. But if you pick the right individual stocks, you could make more than that. Just take a look at CIMB Group Holdings Berhad (KLSE:CIMB), which is up 81%, over three years, soundly beating the market return of 2.6% (not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 12% , including dividends .
So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.
See our latest analysis for CIMB Group Holdings Berhad
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
CIMB Group Holdings Berhad was able to grow its EPS at 29% per year over three years, sending the share price higher. This EPS growth is higher than the 22% average annual increase in the share price. So it seems investors have become more cautious about the company, over time. This cautious sentiment is reflected in its (fairly low) P/E ratio of 9.75.
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
We know that CIMB Group Holdings Berhad has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.
What About Dividends?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, CIMB Group Holdings Berhad's TSR for the last 3 years was 108%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
A Different Perspective
We're pleased to report that CIMB Group Holdings Berhad shareholders have received a total shareholder return of 12% over one year. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 3% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It's always interesting to track share price performance over the longer term. But to understand CIMB Group Holdings Berhad better, we need to consider many other factors. For example, we've discovered 1 warning sign for CIMB Group Holdings Berhad that you should be aware of before investing here.
Of course CIMB Group Holdings Berhad may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Malaysian exchanges.
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By buying an index fund, investors can approximate the average market return. But if you pick the right individual...
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summarize: (Bloomberg) -- XPO Logistics Inc. is selling $1 billion of bonds to refinance debt as it seeks to combat cooling European demand and lost business from its largest customer.
The trucking company and warehouse operator will use the bonds to repay borrowings under its existing credit agreement, according to a statement from the firm. The 5.5-year securities can’t be bought back for 2.5 years, according to a person familiar with the matter, who asked not to be identified as the details are private.
XPO cut its 2019 profit forecast on Feb. 15 for the second time in two months, citing the loss of business from its largest customer and softening European demand. While it didn’t identify the firm that cut back business by two-thirds, Wall Street analysts and industry consultants said it was most certainly Amazon.com Inc., which has been building up its own logistics network, reducing the e-commerce giant’s need for third-party providers.
Once Morgan Stanley’s top equity pick for 2019, analyst Ravi Shanker recently downgraded the stock as the company’s change in guidance “has raised questions on forward visibility,” according to a report Tuesday.
XPO, based in Greenwich, Connecticut, also said that it may amend its existing $1 billion revolving credit facility by extending its maturity, according to the statement. The bond sale is being managed by Citigroup Inc., Morgan Stanley and JPMorgan Chase & Co., the person familiar said.
--With assistance from Gowri Gurumurthy.
To contact the reporters on this story: Molly Smith in New York at [email protected];Sebastian Pellejero in New York at [email protected]
To contact the editors responsible for this story: Nikolaj Gammeltoft at [email protected], Sally Bakewell, Dan Wilchins
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
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The trucking company and warehouse operator will use the bonds to repay borrowings under its existing credit agreement, according to a statement from the firm. XPO cut its 2019 profit forecast on Feb. 15 for the second time in two months, citing the loss of business from its largest customer and softening
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summarize: NEW YORK (Reuters) - Despite recent optimism around the U.S. economy, a recession remains a more likely scenario than a so-called "soft landing" as the Federal Reserve seeks to curb inflation by tightening monetary conditions, Deutsche Bank said on Wednesday.
"Given that inflation peaked significantly above target, the Fed should err on the side of tightening too much, rather than too little," Deutsche Bank analysts said in a note. "A US recession remains more likely than not."
Investors in recent months have increasingly embraced hopes that the Fed could lower inflation to its 2% target without sending the economy into a tailspin, as economic data showed the economy has remained strong despite the rapid increase in interest rates over the past 18 months.
While that "soft landing" can still be achieved, it remained likely that the Fed would need to "depress demand below potential" to bring inflation to target, said the Deutsche Bank analysts, adding that they expected pressure on the U.S. economy to become more evident early next year.
In contrast to Deutsche Bank's forecasts, several banks have in recent months revised or pushed out their earlier recession calls. Goldman Sachs analysts on Monday said they had further reduced their 12-month U.S. recession probability to 15% from a previous 20% estimate.
(Reporting by Davide Barbuscia; Editing by Paul Simao)
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Despite recent optimism around the U.S. economy, a recession remains a more likely scenario than a so-called "soft landing" as the Federal Reserve seeks to curb inflation by tightening monetary conditions, Deutsche Bank said on Wednesday. "Given that inflation peaked significantly above target, the Fed should err on the side of tightening too much, rather than too little," Deutsche Bank analysts said in a note. "A US recession remains more likely than not."
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summarize: SOLON, Ohio, March 24, 2023 /PRNewswire/ -- HDT Global (HDT), announced today the appointment of Kevin McSweeney as President and CEO. Mr. McSweeney replaces Juan A. Navarro, who has announced his retirement.
"I'm very excited to have Kevin join us at HDT," stated Vince Buffa, Executive Chairman of the Board, HDT Global. "He is a proven aerospace business leader with strong foundational knowledge in operations, engineering, program management and business development. Kevin's proven track record of building cohesive workforces and growing businesses is an ideal fit with HDT's strategic growth objectives."
"I would like to thank Juan for his leadership and dedication to HDT," continued Mr. Buffa. "Although he is retiring from day-to-day operations, Juan will remain involved as a senior advisor to some of HDT's key strategic programs."
Mr. McSweeney comes to HDT from Telephonics Corporation, where he progressed through leadership roles including Vice President and General Manager of the Radar Systems Division, Executive Vice President responsible for all programs, business development and engineering and finally President and CEO. Prior to his tenure at Telephonics, Mr. McSweeney held roles of increasing responsibility at Lockheed Martin, culminating as the business leader for the Maritime Safety, Security and Surveillance business area.
"I'm thrilled to be here," said Mr. McSweeney. "HDT has a proud 85-year history of serving the warfighter and I'm honored to join the 900 dedicated employees in continuing that mission. HDT is poised for significant growth and I'm excited to be a part of the next chapter of their story."
About HDT: Headquartered in Solon, Ohio, USA, HDT Global is a leading manufacturer and integrator of state-of-the-art, unmanned, platform, and expeditionary solutions across defense, aerospace and government markets. We design and produce robotic systems, specialty transport vehicles, shelters, power generation equipment, environmental control systems, air filtration devices and other engineered technologies that are currently used by U.S. and allied military worldwide, as well as civilian government and commercial customers. Proven solutions for extreme environments. We're there with you. For more information, visit www.hdtglobal.com.
View original content:https://www.prnewswire.com/news-releases/hdt-global-names-kevin-mcsweeney-president-and-ceo-301781023.html
SOURCE HDT Global
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HDT Global (HDT), announced today the appointment of Kevin McSweeney as President and CEO. Mr. McSweeney replaces Juan A. Navarro, who has announced his retirement.
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summarize: (Adds further background on Arm in paragraph 5 and 6)
By Echo Wang and Anirban Sen
NEW YORK, Sept 5 (Reuters) - Arm Holdings Ltd, the chip designer owned by SoftBank Group Corp, began its marketing road show for its blockbuster initial public offering on Tuesday in Baltimore, where T. Rowe Price is headquartered, underscoring the fund manager's significance as a potential investor.
Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, according to people familiar with the matter.
The chip designer is expected to meet with other investors in cities including New York in the days leading up to the pricing of its IPO on Sept. 13, the sources said.
Arm declined to comment. T. Rowe Price and Sands Capital did not immediately respond to requests for comment.
Earlier on Tuesday, Arm said it would seek to raise about $4.9 billion at a valuation of more than $52 billion from its IPO, which is expected to be the biggest stock market flotation of the year.
Arm has signed up many of its major clients as investors in its IPO, including Apple, Nvidia, Alphabet , Advanced Micro Devices, Intel and Samsung Electronics.
Arm has said that cornerstone investors have separately indicated an interest in buying a combined $735 million of the American Depositary Shares (ADS) being sold.
(Reporting by Echo Wang and Anirban Sen in New York; Editing by Nick Zieminski)
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Arm Holdings Ltd, the chip designer owned by SoftBank Group Corp, began its marketing road show for its blockbuster initial public offering on Tuesday in Baltimore, where T. Rowe Price is headquartered, underscoring the fund manager's significance as a potential investor. Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, according to people familiar with the matter. Arm declined to comment.
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summarize: In this article:
NEW YORK, June 17, 2022 (GLOBE NEWSWIRE) -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced that the presentations from the June 16th OTCQX Best 50 Virtual Investor Conference are now available for on-demand viewing.
REGISTER NOW OR LOGIN AT: https://bit.ly/39ueG8g
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.
Companies are accepting 1x1 management meeting requests through June 21.
June 16th Agenda:
Presentation
Ticker(s)
Global Atomic Corp.
OTCQX: GLATF | TSX: GLO
IsoEnergy Ltd.
OTCQX: ISENF | TSXV: ISO
InPlay Oil Corp.
OTCQX: IPOOF | TSX: IPO
TAAL Distributed Information Technologies Inc.
OTCQX: TAALF | CSE: TAAL
Labrador Gold Corp.
OTCQX: NKOSF | TSXV: LAB
Deep Yellow Ltd.
OTCQX: DYLLF | ASX: DYL
Novonix Ltd.
OTCQX: NVNXF | ASX: NVX
Nanalysis Scientific Corp.
OTCQX: NSCIF | TSXV: NSCI
Grayscale Investments LLC
OTCQX: GBTC
Thunderbird Entertainment Group Inc.
OTCQX: THBRF | TSXV: TBRD
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, [email protected]
Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
[email protected]
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NEW YORK, June 17, 2022 (GLOBE NEWSWIRE) -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced that the presentations from the June 16th OTCQX Best 50 Virtual Investor Conference are now available for on-demand viewing. REGISTER NOW OR LOGIN AT: https://bit.ly/39ueG8gThe company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section. Companies are accept
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summarize: Adorama's sale on the AirPods Max wireless headphones may have come and gone, but Amazon's latest sale is almost as good. Every color of Apple's high-end headphones except for space gray are down to $455 at Amazon right now, and that's about $94 off their normal price. It's also only $5 more than a sale we saw at Adorama at the end of last week, so if you missed that chance to grab a pair, you have another opportunity today.
Buy AirPods Max at Amazon - $455
One of our biggest gripes with the AirPods Max is their price. Normally $550, these are the best headphones Apple has to offer — but despite how much we liked them, we still thought they were on the steep side. We recommend waiting for a sale before taking the plunge as AirPods Max are a much better buy when discounted like this.
They earned a score of 84 from us in part due to their excellent sound, solid ANC and reliable touch controls. AirPods Max have more balanced sound than competitors, with bass that comes through nicely but isn't overpowering. The active noise-cancellation on these cans holds its own against that of Bose and Sony devices, even if we slightly prefer the latter two for that feature. The Max also have Transparency Mode, allowing you to easily hop in and out of conversations when necessary. And you're getting spatial audio support on iPhones, iPads, Macs and soon, Apple TV as well.
All of that plus the Max's unique yet elegant design make them solid wireless headphones, but features brought by their built-in H1 chip make them even better for those living in the Apple ecosystem. In addition to hands-free Siri, you'll also get quick pairing and switching between all your Apple devices. While still expensive at this sale price, the AirPods Max are a good option for Apple lovers that want a pair of wireless headphones that both sound great and work seamlessly with their devices.
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Save big on Apple's AirPods Max wireless headphones at Amazon, where you can grab a pair for $455.
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summarize: The first extinguishing system of its kind to be awarded the VdS seal.
AHRENSBURG, Germany, Nov. 16, 2022 /PRNewswire/ -- The JOB Group, based in Northern Germany, has received the VdS seal of approval from the insurance industry for its system, after the independent testing laboratories of VdS Schadenverhütung GmbH confirmed its reliability and effectiveness. It is the first system of its kind to be awarded the VdS seal. The AMFE system is already protecting control cabinets around the world. This mini fire extinguisher, when installed directly in electrical equipment, detects, reports, and extinguishes incipient fires before they can spread.
Dr. Robert Reinermann, Managing Director of VdS Schadenverhütung GmbH: "Defective electrical equipment is one of the most common causes of fire in Germany. Device-integrated fire protection and the AMFE system fight this danger early and directly at the point of origin. After extensive testing, we are pleased to be able to grant VdS recognition to the S- & R-AMFE system."
Rajko Eichhorn, Senior Product Manager of the AMFE portfolio explains: "We are very pleased with the recognition by VdS. This is an important milestone especially for operators of electrical installations and control cabinets. The VdS certificate proves the effective extinguishing efficiency and reliability of the device-integrated mini fire extinguisher. For operators of electrical installations, this is a real added value. With AMFE, they can not only protect their company from expensive business interruptions, but also often benefit from reduced insurance premiums. This is because fire protection solutions with VdS certification have been proven to reduce the risk of fire and are therefore regularly recommended by insurance companies."
About VdS
VdS is a subsidiary of the German Insurance Association and is known for comprehensive technical and practical testing procedures for the certification of fire protection and extinguishing technology.
About Mini Fire Extinguisher AMFE
AMFE stands for Automatic Miniature Fire Extinguisher. The modular system detects, reports, and extinguishes an incipient fire directly in the electrical device, thus preventing greater damage. The mini fire extinguishers are already in use in many sensitive areas, such as media technology at Frankfurt Airport, control cabinets in the production facility at power tool manufacturer Festool, household appliance manufacturer Liebherr, tour operator FTI Group, and the OeTTINGER brewery, one of the largest breweries in Germany.
Fire hazard
Every 23 seconds, a fire department in the United States responds to a fire somewhere in the nation. According to the damage research institute IFS in Kiel, one in every three fires are caused by electricity. Many fires start inside electrical equipment, which not infrequently lead to costly business interruptions in industrial companies. According to the Allianz Risk Barometer 2022, after cyberattacks, business interruption is the second biggest business risk for companies. Based on various statistical data, it can be estimated that 40% of companies that have experienced a major fire event are insolvent after the first year, and after three to five years the figure is around 70%.
About the JOB Group
The JOB Group, headquartered in Ahrensburg near Hamburg, Germany is, among other things, the global market leader in the research, development, and production of heat-sensitive Thermo Bulbs (glass ampoules) for the sprinkler industry. For more than 50 years, more than 165 employees have been working on continuous innovation and the implementation of new technologies. The name of the company goes back to the JOB enterprise founded by Eduard Job in 1971.
CONTACT: Markus Fiebig, +49 (0) 4102-2114-223
Photo - https://mma.prnewswire.com/media/1948795/JOB_Group_AMFE.jpg
Logo - https://mma.prnewswire.com/media/1946456/Job_Group_Logo.jpg
View original content to download multimedia:https://www.prnewswire.com/news-releases/job-groups-mini-fire-extinguishing-system-amfe-receives-seal-of-approval-from-the-insurance-industry-301679925.html
SOURCE JOB Group
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The JOB Group, based in Northern Germany, has received the VdS seal of approval from the insurance industry for its system, after the independent testing laboratories of VdS Schadenverhütung GmbH confirmed its reliability and effectiveness. It is the first system of its kind to be awarded the VdS seal. The AMFE system is already protecting control cabinets around the world. This mini fire extinguisher, when installed directly in electrical equipment, detects, reports, and extinguishes incipient
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summarize: It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes to zero. But when you pick a company that is really flourishing, you can make more than 100%. For instance the OCI N.V. (AMS:OCI) share price is 120% higher than it was three years ago. How nice for those who held the stock! Unfortunately, though, the stock has dropped 6.1% over a week. However, this might be related to the overall market decline of 0.7% in a week.
Although OCI has shed €333m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
See our latest analysis for OCI
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
During three years of share price growth, OCI moved from a loss to profitability. Given the importance of this milestone, it's not overly surprising that the share price has increased strongly.
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
We know that OCI has improved its bottom line over the last three years, but what does the future have in store? If you are thinking of buying or selling OCI stock, you should check out this FREE detailed report on its balance sheet.
What About Dividends?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for OCI the TSR over the last 3 years was 184%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
A Different Perspective
OCI shareholders are down 30% for the year (even including dividends), but the market itself is up 14%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 3% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For instance, we've identified 3 warning signs for OCI (1 is a bit unpleasant) that you should be aware of.
If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Dutch exchanges.
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It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes...
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summarize: Storyful
Dazed-Looking Cat Gazes at Napping Dog While Giving Him a Massage
Adorable footage shows a cat gazing at a napping dog while giving him a massage at their home in Tulsa, Oklahoma.The video, taken by pet owner Kenda Skaggs, shows cat June massaging golden retriever Journey who doesn’t move an inch.“Journey and June love each other,” Skaggs told Storyful, and it certainly appears that way.Since going viral in 2018 when Skaggs posted a video of Journey appearing to drive a boat, the golden retriever has garnered thousands of fans on Facebook and Instagram. Credit: Kenda Denison Skaggs via Storyful
BGR
5 secret Amazon departments with the best hidden deals
Loyal Amazon shoppers undoubtedly know so many ins and outs of shopping at Amazon. But not even the savviest of shoppers will manage to discover all the different Amazon tricks out there that help you find the best Amazon deals. The BGR Deals team does this for a living and we still learn new tips … The post 5 secret Amazon departments with the best hidden deals appeared first on BGR.
Storyful
Cat Grabs Hold of Dog's Face During Play-Fight Over Toy
Amusing footage shows a sleepy-looking cat grabbing a golden retriever’s face while attempting to snatch a toy from the dog at their home in Tulsa, Oklahoma.The video, taken by pet owner Kenda Skaggs, shows golden retriever Journey trying to enjoy his toy while cat June kicks at Journey and grabs a hold of the his’ face before appearing to lose interest in the pursuit.Journey, who reacts calmly to June’s playful aggression, is no stranger to attention. Since going viral in 2018 when Skaggs posted a video of him appearing to drive a boat, Journey has garnered thousands of fans on Facebook and Instagram, where Skaggs shares numerous videos of the dog. Credit: Kenda Denison Skaggs via Storyful
GOBankingRates
25 Things To Sell When You’re Ready To Retire
Many people downsize in retirement as a way to cut back on expenses and make their lives simpler. For some, this means relocating to a smaller home or a retirement community. For others, this can just...
GOBankingRates
5 Collector’s Items Worth Selling for Extra Cash
Collecting items like Beanie Babies can be a fun hobby that allows you to create special memories. What you might not realize is some collections also grow to be worth a fortune. In some cases, items...
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Ontario Lottery and Gaming Corporation - EVENING LOTTERY WINNING NUMBERS - April 22, 2022
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summarize: ATLANTA, Jan. 18, 2022 /PRNewswire/ -- Arkadios Capital, a hybrid independent broker/dealer, announced today Blue Chip Wealth Advisors and former J.P. Morgan private client advisor Rob Douglass have moved their assets under advisement — a combined $500MM — to its fast-growing platform.
"BlueChip Wealth Advisors and Rob Douglass are both poised to grow over the next decade, and Arkadios has the tools and the experience to help them get where they want to go," said Arkadios Founder and CEO David Millican. "We are entrepreneurial by nature and are uniquely qualified to help successful advisors reach the next level."
Blue Chip Wealth Advisors is a Milton, Georgia-based firm formerly operating as Ashworth Sullivan Wealth Advisors. It has been recognized by Atlanta Magazine and the Atlanta Business Chronicle as one of the region's top wealth managers. Founders Marcus Ashworth and his late partner Casey Sullivan built the firm on the foundation of competency, trustworthiness and a commitment to their clients. The full-service wealth management registered independent advisor has more than $300MM under advisement.
Rob Douglass, CFA, a registered independent advisor, is moving from J.P. Morgan, where he was a private client advisor. He advises roughly 50 high-net-worth families and oversees more than $200MM. Douglass started his career with Goldman Sachs in 2000 and spent nearly two decades with Credit Suisse and JP Morgan.
Arkadios is a unique broker/dealer platform created by a successful registered independent advisor. Millican and his partners founded ACG Wealth, growing to more than $2B in AUM. The partnership became dissatisfied with the ongoing consolidation in the B/D channel, which Millican took as an opportunity.
He started Arkadios six years ago focusing on supporting successful independent advisors like himself. It has grown to more than $5B in affiliated assets and more than 100 advisors with offices across the United States and Puerto Rico.
Arkadios has earned accolades from several leading business publications. Investment News named it the fastest-growing IBD in the country and the Atlanta Business Chronicle named it one of the fastest-growing private companies in the region last year. Financial Planning magazine ranks Arkadios among the nation's top IBDs.
About Arkadios Capital
Arkadios Capital specializes in customized investment options focused on investors with the highest ethical standards. For more information, visit www.arkadioscapital.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/hybrid-brokerdealer-arkadios-capital-starts-2022-off-strong-by-adding-two-groups-500mm-301462228.html
SOURCE Arkadios Capital
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Arkadios Capital, a hybrid independent broker/dealer, announced today Blue Chip Wealth Advisors and former J.P. Morgan private client advisor Rob Douglass have moved their assets under advisement — a combined $500MM — to its fast-growing platform.
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summarize: Americans cutting back on their streaming subscriptions are turning to Netflix (NFLX) first, according to a new survey.
The survey from Vorhaus Advisors, which included responses from 2,000 people in the US over 18, found that among those who canceled a streaming service in the past three months, Netflix was the "most frequently mentioned" service, followed by Disney's Hulu (DIS) and Amazon Prime (AMZN).
The survey findings come at an inflection point for media, and Netflix is particularly in the crosshairs as it has sought to jumpstart subscriber growth in recent months and years through a crackdown on password-sharing.
"When you're the biggest, you're going to be hit really hard with cancellations," Vorhaus Advisors CEO Mike Vorhaus said on Tuesday at the Goldman Sachs Communacopia and Tech Conference in San Francisco. "The problem for them in the United States is that everybody who has conflicts today, plus everybody who has ever had to cancel, adds up pretty much to the total number of people that would consider ever joining a streaming service. They've already said no to Netflix once, so now there's that contest to get them back and that's quite a struggle."
Though Netflix has its challenges, there's more than enough cord-cutting to go around right now. The data shows that 12% of paid TV subscribers are "very likely to cut the cord in the next year," and those who are most likely to do so are between the ages of 18 and 34.
About 47% of people who cancel services do so to save money.
Still, for traditional TV outlets, digital video is creating additional pressure. Every day, 2 out of 5 Americans watch videos on the internet, the Vorhaus survey revealed. Across all age categories, there are increases in daily digital video viewing between 7% and 10%.
In part, what's opening the door to this kind of transition is a change in storytelling, Vorhaus told the audience.
"The idea that a story has to be scripted, that the story has to have big actors in it, that the story must have a budget, and a beginning, middle, and end — the world has changed," he said.
"With all due respect, the story isn't 'When Harry Met Sally' anymore," Vorhaus added. "I remember when people in Hollywood were saying that 'The Matrix' wasn't a story. So I think the people who make money will be the ones who are able to figure out what storytelling means."
Read more coverage of the 2023 Goldman Sachs Communacopia + Tech conference:
CrowdStrike CEO: 'Microsoft is always going to be a competitor'
Visa CEO: Consumer spending showing 'stability, resiliency'
The AI market will be worth $600 billion, Nvidia exec says
Goldman Sachs chief economist: US consumer won't break in 2024
Potential FTC antitrust suit against Amazon may hang over the stock: Analyst
Disney must show turnaround success for its stock to rise from the ashes: Analyst
Disney and Comcast move up Hulu deal date to Sept. 30
Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. Follow her on Twitter at @agarfinks and on LinkedIn.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
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As Netflix continues to lead the streaming space, it's also the biggest target for subscribers leaving the service.
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summarize: Roku (ROKU) on Thursday announced a host of additions to its streaming video player lineup including the surprisingly small $29 Roku Express. The company also debuted the latest version of the operating system that powers its players and Roku-branded TVs.
Roku OS 9.2 brings with it a new feature called Roku Zones that makes it easier to find content based on the genre you're most interested in, as well as a refreshed 4K Spotlight to help you find movies and TV shows that take advantage of your sweet 4K set.
New Roku models
Roku's fall 2019 lineup starts with the Roku Express. An upgrade over last year's Roku Express, the 2019 version of the streaming device is roughly 10% smaller than its predecessor. An adhesive strip on the bottom of the player lets you stick it to the top or bottom of your TV, though you can always place it on your TV stand, too.
The Express is Roku's entry-level offering, and as such, its remote doesn't have any of the fancy bells and whistles that more premium players offer, such as the ability to listen to content by plugging your headphones into the remote or voice capabilities.
The player is also the only one in Roku's lineup that doesn't include 4K, HDR streaming capabilities. Really, this is the player you'd want if you're on a budget, or want to get an older TV in your home online.
Walmart, meanwhile, is getting an exclusive version of the Roku Express called the Roku Express Plus. The $39 player is the same unit included in the standard Roku Express, but adds a voice-capable remote.
Then there's the Roku Premier, which, starting at $39, offers 4K, HDR streaming. The remote is a standard model, but if you've got a 4K, HDR television at home, it's worth shelling out the additional $10 versus the Roku Express to get improved image color and quality.
Roku's Streaming Stick Plus is a 4K, HDR capable player designed to be taken with you when you travel. That's because the Streaming Stick Plus packs all of its processing guts into a design that plugs directly into your TV's HDMI port, meaning you've got less to carry with you during your work trips or getaways. The Streaming Stick Plus also gets a Roku voice remote, though with a price tag of $59, you're certainly paying for the convenience.
Best Buy will get its own version of the Streaming Stick Plus for $59 that will include a remote with private listening via its headphone jack.
Above that is the Roku Ultra. This $99 streaming box is the company's top-of-the-line offering and features 4K, HDR streaming, as well as an Ethernet port for improved connectivity, on-board storage, and a USB port and microSD card slot so you can add storage or watch TV shows and movies you've downloaded from other sources.
The Ultra also gets Roku's best remote, which includes voice capabilities and a headphone jack for private listening. For this year's model, Roku is adding two new features to the Ultra's remote — programmable buttons and a mute button.
The programmable buttons, something that Roku says customers have been asking for, can be set to either launch a channel, or perform tasks like turning on closed captioning. It's certainly a welcome addition to the remote, since the current model's hot buttons are set to four video services chosen by Roku.
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Roku has updated its line of streaming devices, including a new $29 streaming box.
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summarize: KANSAS CITY, Mo., March 4, 2022 /PRNewswire/ -- Kansas City Life Insurance Company recorded net income of $13.1 million or $1.36 per share in the fourth quarter of 2021 compared to a net loss of $0.8 million or $0.07 per share in the fourth quarter of 2020. Net income totaled $10.7 million or $1.11 per share for the year ended December 31, 2021, down from $15.2 million or $1.57 per share for the year ended December 31, 2020.
The largest factor in the increase in net income in the fourth quarter of 2021 compared to the fourth quarter of 2020 was an increase in net investment gains, reflecting the sale of an industrial real estate property. In addition, we completed the sale of our subsidiary Sunset Life Insurance Company in the fourth quarter of 2021, which generated a gain. Also, policyholder benefits decreased compared to one year earlier. Partially offsetting these were declines in insurance revenues and net investment income.
The decrease in net income for the year ended December 31, 2021, compared to the prior year reflected declines in insurance revenues and net investment income. Partially offsetting these were an increase in net investment gains, largely from the sale of a real estate property, and the gain on the sale of Sunset Life Insurance Company. In addition, the amortization of deferred acquisition costs and operating expenses decreased compared to the prior year.
The COVID-19 pandemic and related effects continue to have a negative impact on our financial results. The primary impacts are a sizeable increase in excess mortality, largely resulting from the impacts of the pandemic, and the continued low interest rate environment.
Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company's primary business is providing financial protection through the sale of life insurance and annuities. The Company operates in 49 states and the District of Columbia.
Please refer to our 2021 Annual Report for additional information, which is available at www.kclife.com.
View original content:https://www.prnewswire.com/news-releases/kansas-city-life-announces-fourth-quarter-2021-results-301496098.html
SOURCE Kansas City Life Insurance
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Kansas City Life Insurance Company recorded net income of $13.1 million or $1.36 per share in the fourth quarter of 2021 compared to a net loss of $0.8 million or $0.07 per share in the fourth quarter of 2020. Net income totaled $10.7 million or $1.11 per share for the year ended December 31, 2021, down from $15.2 million or $1.57 per share for the year ended December 31, 2020.
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summarize: Longtime retail executive Karlyn Mattson has joined Rue21 as its new EVP and chief customer officer.
According to the Pittsburgh, Penn.-based retailer, Mattson will play a “pivotal role” in the company’s merchandising, planning and marketing operations. Specifically, Mattson will oversee Rue21’s omnichannel strategy and upcoming marketing campaigns.
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Throughout her over 25-year career, Mattson has been instrumental in driving growth through her ability to build, develop and retain high-performing teams.
She joins the teen retailer from GNC, where she served as EVP and chief merchandising officer since August 2021. Prior to GNC, Mattson spent several years in the footwear industry, holding the roles of GM of merchandise strategy, new business development and women’s fashion at Zappos from Dec. 2018 through July 2021. She also spent time at Caleres’ Famous Footwear brand as chief merchandising officer from Feb. 2017 to Nov. 2018. Prior to these roles, Mattson spent nearly nine years at Target and held several roles at Macy’s and Amazon.
In a statement, Mattson said she is “incredibly excited” to join the Rue21 team. “Their dedication to being a relevant, authentic, and affordable fashion destination resonates with my passion for enhancing the customer experience,” Mattson said. “I’m looking forward to working alongside the team to help carry out Rue21’s mission of offering accessible fashion for all.”
“Karlyn’s industry leadership and dedication to customer needs is perfectly aligned with our mission at Rue21,” Josh Burris, president and CEO of Rue21, added in a statement. “Her unique background will be invaluable as we continue to cultivate our commitment to building the most relevant and mainstream fashion destination. We are thrilled to have Karlyn join the Rue21 family.”
Mattson’s appointment comes less than two months after Rue21 named Burris CEO. Burris, who also joined the company from GNC, replaced Bill Brand, who announced in March his intention to step down as CEO.
Best of Footwear News
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Mattson previously spent several years in the footwear industry, holding roles at both Zappos and Famous Footwear.
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summarize: Ed-Wozencroft-NJIT
Newark, N.J., March 09, 2023 (GLOBE NEWSWIRE) -- Ed Wozencroft has been appointed as New Jersey Institute of Technology’s vice president for digital strategy and chief information officer, effective March 20, 2023.
Wozencroft has been serving NJIT as an associate CIO since 2021, and interim Co-CIO since August 2022. Previously, Wozencroft was director in the Higher Education Enterprise Solutions and Student Lifecycle Solutions practices at Huron Consulting Group, and provided executive-level consulting for complex R1 universities such as the University of Washington, Iowa State University and University of Miami.
“Ed has earned the respect and confidence of his colleagues while consistently demonstrating high levels of competence, creativity, collegiality and performance,” said Lim. “Throughout his career, Ed has gained significant experience in the development of strategic plans, complex enterprise resource planning (ERP) implementations, process transformations, directing enterprise web services efforts, and forming high performing cross-functional teams.”
Among Wozencroft’s roles are the responsibility for developing, championing and implementing NJIT’s technology vision, strategy and supporting roadmaps aligned with the 2025 strategic plan. He will work closely with faculty, students and technology teams to improve and innovate learning management solutions and expand online learning capabilities. Wozencroft will manage more than 100 employees and over a $35 million budget.
“Since joining NJIT, I have had the pleasure of working with an incredibly talented and dedicated IT team, and collaborating with our stakeholder communities to modernize our IT systems,” said Wozencroft. “As we embark on the next chapter of our digital transformation strategy, I look forward to working together to build a human-centered digital ecosystem that enables us to pursue and achieve NJIT’s mission.”
Wozencroft began working in the information technology field after receiving a bachelor's degree in information systems and technology from Marist College. He earned a master’s in enterprise project management from Stevens Institute of Technology and has additional educational experience and affiliations with Cornell University and Educause Institute.
As NJIT pursues enterprise management modernization efforts, his leadership and success in the delivery of complex ERP solutions at top-tier institutions demonstrates significant experience and effectiveness for this role. In addition, his institutional knowledge of NJIT during his service as an associate CIO and as interim co-CIO is a valuable asset to make an immediate impact.
“I am grateful to Ed for all he has done to date and for his willingness to accept this critical role, which supports and facilitates everything we do at NJIT,” said Lim.
Attachment
Ed-Wozencroft-NJIT
CONTACT: Deric Raymond New Jersey Institute of Technology [email protected]
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Ed-Wozencroft-NJIT Wozencroft Brings Competence, Creativity, Collegiality and Performance Newark, N.J., March 09, 2023 (GLOBE NEWSWIRE) -- Ed Wozencroft has been appointed as New Jersey Institute of Technology’s vice president for digital strategy and chief information officer, effective March 20, 2023. Wozencroft has been serving NJIT as an associate CIO since 2021, and interim Co-CIO since August 2022. Previously, Wozencroft was director in the Higher Education Enterprise Solutions and Student
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summarize: By Aditya Soni and Yuvraj Malik
(Reuters) - An Indian research group backed by Microsoft and Infosys co-founder Nandan Nilekani is using generative AI, the technology behind chatbot sensation ChatGPT, for a mobile assistant that aims to make information on government schemes accessible in multiple languages.
The Jugalbandi bot, named after a duet where two musicians riff off each other, uses language models from government-backed AI4Bharat and artificial intelligence tech through Microsoft's Azure OpenAI Service.
Operating over Meta Platforms-owned WhatsApp messaging service, the bot can understand questions in 10 Indian languages and retrieves information that is usually written in English on government websites to relay it in local languages.
Microsoft said the bot could help bridge the language barrier in India where English is spoken by just 11% of the 1.4 billion population, citing examples where it helped a student get a scholarship and a farmer apply for pension for his parents.
There are, however, some accuracy issues.
Like Google's Bard and Microsoft-owned Bing, Jugalbandi can sometimes deliver answers that seem convincing but are made up - a tendency that has been called hallucination.
Jugalbandi's application is also limited by a lack of data as organizations often do not have either the bandwidth or expertise in building data pipelines to feed to the bot.
"Sometimes these models do make errors. They are probabilistic machines," said Pratyush Kumar, co-principal investigator at AI4Bharat and a principal researcher at Microsoft Research India.
He added that AI4Bharat is trying to resolve such issues by seeking feedback from organizations such as Gram Vaani, a Delhi-based social enterprise that closely works with farmers.
(Reporting by Yuvraj Malik in Bengaluru; editing b)
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An Indian research group backed by Microsoft and Infosys co-founder Nandan Nilekani is using generative AI, the technology behind chatbot sensation ChatGPT, for a mobile assistant that aims to make information on government schemes accessible in multiple languages. The Jugalbandi bot, named after a duet where two musicians riff off each other, uses language models from government-backed AI4Bharat and artificial intelligence tech through Microsoft's Azure OpenAI Service. Operating over Meta Platforms-owned WhatsApp messaging service, the bot can understand questions in 10 Indian languages and retrieves information that is usually written in English on government websites to relay it in local languages.
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summarize: TORONTO, ON / ACCESSWIRE / May 6, 2023 / Morpheus.Network announced today that its Brand Protection solution had achieved SAP® certification as integrated with SAP S/4HANA® Cloud as part of the "Co-Innovated with SAP" program.
The "Co-Innovated with SAP" program is designed to help partners through the development lifecycle that culminates in an SAP-certified and tested solution against SAP product standards.
"Counterfeiting globally is a $2 trillion problem and growing. The saying 'if you can make it, they can fake it' is truer than ever. We help protect our customers' revenues and consumers by reducing counterfeiting. Whether that is black, gray or diversion and stolen products entering your distribution and retail channels.
"We are at the forefront of innovation in brand protection to help lead your company and brands into 'The Digital Age.'" - Karl McDermott, Chief Revenue Officer, Morpheus.Network
"To address this issue, Morpheus.Network has launched an SAP S/4 HANA Certified Digital Platform that supports all your Brand Protection and Consumer Experience needs," he added.
The SAP Partner Innovation Lifecycle Services organization has been certified Brand Protection by Morpheus.Network and integrates with SAP S/4HANA® Cloud using standard integration technologies.
"This SAP certification is a major milestone for Morpheus.Network and is another testament to the quality, effectiveness and innovation of our platform. I look forward to seeing the positive impact it will have on the 400,000 SAP customers worldwide." - Noam Eppel Co-Founder & COO, Morpheus.Network
In the next couple of weeks, Morpheus.Network will be providing more information on the commercial launch of the Brand Protection and product roadmap for SAP S/4HANA® Cloud.
If you are a Chief Risk Officer, CFO or Brand Protection Executive, stay tuned.
Safeguarding your revenues and your consumers has never been easier.
About Morpheus.Network
Morpheus.Network is a blockchain-agnostic supply chain SaaS middleware platform that helps companies integrate new technologies with legacy supply chain systems to boost efficiency. We have integrations with leading companies including FedEx, DHL, Swift, SAP, Microsoft Dynamics, Oracle, and Salesforce.
Morpheus.Network aims to become a global leader in blockchain-based supply chain software and logistics. Morpheus.Network was named a finalist for the Entrepreneurship World Cup and the Blockchain Revolution Global Enterprise Blockchain Awards. They won the ISCEA PTAK award for Supply Chain Excellence at the SCTECH conference. Their middleware platform has been adopted by large enterprises around the world, including one of the top 5 agro companies globally, and Gulftainer, one of the largest port operators in the world.
Contact Information
James Toland
PR Manager
[email protected]
SOURCE: Morpheus.Network
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Morpheus.Network announced today that its Brand Protection solution had achieved SAP® certification as integrated with SAP S/4HANA® Cloud as part of the "Co-Innovated with SAP" program.
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summarize: OAKDALE, Calif., Jan. 19, 2023 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY) announced the opening of its eighteenth full-service branch. The new Roseville Branch is located at 1478 Stone Point Drive, Suite 150, just off the Eureka Road exit of Highway 80.
Established in 1991, Oak Valley Community Bank opened its first branch in the Sacramento region in 2018 at 455 Capitol Mall. In early 2022, Oak Valley initially opened in Roseville as a Loan Production Office and officially opened the branch in December 2022. Both branches offer a full line of personal and commercial banking services and are open Monday through Friday from 9:00 AM to 5:00 PM.
“We are excited to expand our footprint into Roseville. This marks our second location in the Capital Region,” stated Chris Courtney, Chief Executive Officer. “As a community bank, the expansion will allow us to provide added convenience to customers and introduce our unique brand of first-class service to a new audience of prospective clients.”
The branch is managed by VP Branch Manager, Kristine Griffin. She has over 25 years of banking experience and deep roots in the Central Valley. Prior to transferring to Roseville, she managed the bank’s Ripon Branch from its initial opening in 2005. During that time, Griffin and the team were focused on relationship expansion and development, successfully helping it grow to become the bank’s fourth largest in terms of deposits.
The bank will maintain a commercial banking group onsite to serve the borrowing and treasury management needs of the business community in the region. Three of the bank’s VP Commercial Banking Officers who serve the Sacramento region will be based at the Roseville Branch. Mona Dmitrenko has 30 years of commercial banking experience and has been with Oak Valley since 2021. Tom Harris has 25 years of banking experience and joined Oak Valley in 2018. Damon K. Munoz has over 20 years of commercial banking experience and recently joined the Oak Valley team in 2022.
Oak Valley Bancorp operates Oak Valley Community Bank through which it offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra division, which includes Bridgeport, Mammoth Lakes, and Bishop.
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OAKDALE, Calif., Jan. 19, 2023 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY) announced the opening of its eighteenth full-service branch. The new Roseville Branch is located at 1478 Stone Point Drive, Suite 150, just off the Eureka Road exit of Highway 80. Established in 1991, Oak Valley Community Bank opened its first branch in the Sacramento region in 2018 at 455 Capitol Mall. In early 2022, Oak Valley initially opened in Rosevill
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summarize: In the news release, Oracle Cloud Enters Hyper-Growth Phase Leading into Oracle CloudWorld, issued 08-Jul-2022 by Oracle over PR Newswire, we are advised by the company that the second paragraph, second sentence should read "(IaaS plus SaaS)" rather than "(IaaS plus PaaS)" as originally issued inadvertently. The complete, corrected release follows:
AUSTIN, Texas, July 8, 2022 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) will welcome customers and partners to the industry's most important event, Oracle CloudWorld Las Vegas, on October 17-20, 2022. With keynotes featuring customers and executives sharing practical lessons, more than 1,200 technical and strategic sessions, and comprehensive hands-on training opportunities, Oracle CloudWorld is the premier venue for business and IT leaders to learn how to create and keep a competitive advantage.
With Oracle CloudWorld on the horizon, Oracle's cloud business is gaining significant momentum. In the most recent fiscal quarter ending May 31, 2022, total cloud revenues (IaaS plus SaaS) were up 19% in USD, up 22% in constant currency to $2.9 billion. Infrastructure cloud (IaaS) revenues were $792 million, up 36% in USD and up 39% in constant currency. Fusion ERP cloud (SaaS) revenues were $569 million, up 20% in USD and up 23% in constant currency. NetSuite ERP cloud (SaaS) revenues were $574 million, up 27% in USD and up 30% in constant currency. Other SaaS revenues were $955 million, up 4% in USD and up 7% in constant currency.
"As we prepare to welcome our customers to Oracle CloudWorld in Las Vegas this fall, I am thrilled about the strong growth we have seen across our entire portfolio of cloud applications and infrastructure," said Oracle CEO, Safra Catz. "We look forward to helping customers of all sizes and in every industry discover even more ways they can drive revenue, maximize profitability and improve their businesses with Oracle Cloud."
Register for Oracle CloudWorld.
About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.
Trademarks
Oracle, Java, and MySQL are registered trademarks of Oracle Corporation.
"Safe Harbor" Statement: Statements in this press release relating to Oracle's future plans, expectations, beliefs, intentions and prospects, including statements related to the growth of Oracle's cloud business, are "forward-looking statements" and are subject to material risks and uncertainties. Many factors could affect our current expectations and our actual results, and could cause actual results to differ materially. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or by contacting Oracle's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of July 8, 2022. Oracle undertakes no duty to update any statement in light of new information or future events.
SOURCE Oracle
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Oracle Corporation (NYSE: ORCL) will welcome customers and partners to the industry's most important event, Oracle CloudWorld Las Vegas, on October 17-20, 2022. With keynotes featuring customers and executives sharing practical lessons, more than 1,200 technical and strategic sessions, and comprehensive hands-on training opportunities, Oracle CloudWorld is the premier venue for business and IT leaders to learn how to create and keep a competitive advantage.
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summarize: Candy Digital and Palm NFT Studio have merged in a combination of leading licensed digital collectible providers in sports and entertainment, the companies announced today.
The firm will continue under the Candy Digital name. Candy’s incumbent CEO Scott Lawin will remain in the same role, while Palm NFT Studio co-founder and CEO Daniel Heyman will serve as president of the combined company. The merger has been completed, a Candy representative said.
Candy Digital confirmed to Decrypt that it laid off about 30 employees on Monday as part of the process. Decrypt was tipped off to the latest round of layoffs by a source with knowledge of the events, who asked not to be named.
“As part of the integration process, it is not uncommon for redundancies to arise, leading to necessary workforce adjustments,” a Candy spokesperson exclusively told Decrypt. “We can confirm that the layoffs you mentioned were a result of the merger. Our priority during this transition is to streamline operations and ensure long-term growth and sustainability.”
The spokesperson further added that Palm NFT Studio also had layoffs earlier in June as part of the merger process, but did not specify how many people were affected. Candy declined to provide a current headcount for the combined company.
Candy Digital has partnerships to create licensed digital collectibles for Major League Baseball, NASCAR, WWE, Getty Images, and Netflix, while Palm NFT Studio’s clients have included Warner Bros., DC Comics, and Universal Music Group. Microsoft and Warner Bros. were investors in Palm’s $27 million Series B raised in December 2021.
Candy Digital Pushes Forward With New MLB NFTs After Fanatics Divestment
More than two million NFTs have been minted via Candy Digital’s platform since sports licensing giant Fanatics co-founded the company in 2021. The startup raised $100 million that same year and was valued at $1.5 billion. Entrepreneur Gary Vaynerchuk was a founding board member, alongside Galaxy Digital’s Mike Novogratz.
Fanatics sold its 60% stake in Candy Digital this January to a group of investors led by Galaxy Digital amid “an imploding NFT market,” as described by Fanatics CEO Michael Rubin. In November 2021, Candy Digital laid off more than one-third of its approximately 100-person team amid declining demand for NFT collectibles.
Sports Giant Fanatics Sells Off Its Majority Stake in NFT Startup Candy Digital
Candy Digital’s NFTs have been and will continue to be minted via the Palm blockchain, an Ethereum sidechain that Palm NFT Studio also uses for its brand and artist partners.
A company press release called this merger a “natural evolution” for both firms as they plan to scale and launch further products across digital collectibles and loyalty programs.
“Together, we’ll accelerate our mission of defining a new category of brand experience that focuses on co-creation, rewarding loyalty, and connecting communities,” Lawin said in a statement.
Additional reporting by Andrew Hayward.
Editor's note: This article was updated after publication to include further details about the merger and layoffs at Palm NFT Studio.
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The combined company will operate under the Candy banner, albeit with about 30 less employees amid layoffs this week.
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summarize: Tesla is receiving minimal blame for a fiery 2018 crash in South Florida, which killed two teenagers and injured another. A jury today found Tesla just one percent responsible for the crash, reports the AP, which means it's only responsible for paying $105,00 of the $10.5 million awarded to the teen's family. 90 percent of the blame was placed on the teen driver, Barrett Riley, while his father James Riley received nine percent of the blame.
According to an NTSB investigation, Barrett Riley was driving at 116 mph in a 30 mph zone near Fort Lauderdale Beach. The agency concluded he most likely lost control of the vehicle. James Riley initially sued Tesla over the crash, claiming that it would have been survivable if the electric car's lithium ion batteries hadn't “burst into an uncontrollable and fatal fire." He also noted that the company removed a speed limiter that was meant to keep the vehicle under 85 mph. An investigation later found that his son had asked a Tesla dealership to remove that limiter.
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Tesla is receiving minimal blame for a fiery 2018 crash in South Florida, which killed two teenagers and injured another.
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summarize: New World Resources (ASX:NWC) Full Year 2023 Results
Key Financial Results
Net loss: AU$2.50m (loss narrowed by 83% from FY 2022).
AU$0.001 loss per share (improved from AU$0.009 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
New World Resources Earnings Insights
Looking ahead, revenue is expected to decline by 120% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 2.5%.
Performance of the Australian Metals and Mining industry.
The company's shares are down 6.3% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 6 warning signs for New World Resources (3 are a bit concerning!) that you need to be mindful of.
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New World Resources ( ASX:NWC ) Full Year 2023 Results Key Financial Results Net loss: AU$2.50m (loss narrowed by 83...
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summarize: ClarisHealth, Everest Group, ClaimLogiq, Exela Technologies, Optum, Cotiviti, FICO, Alivia Analytics, SAS, Health Edge (Payment Integrity Solutions), Conduent, Burgess, Cognizant, HGS Healthcare, Machinify, SyTrue, ChangeHealthcare, Infostride, A&G Healthcare, and Wipro, among others, are some of the key players in the payment integrity market.
Brooklyn, New York, March 20, 2023 (GLOBE NEWSWIRE) -- According to a recently revamped/updated market research report published by Global Market Estimates, the Global Payment Integrity Market is projected to grow at a CAGR of 28.7% from 2023 to 2028.
Payers are facing increasing cost-cutting challenges as healthcare markets expand and the insurance payment landscape changes. Digital technologies are becoming more integrated into commercial and government healthcare systems, resulting in more innovative payment solutions. As a result of these new technologies, there is a higher risk of fraudulent payments. Several complex value-based payment mechanisms are included in these solutions.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Payment Integrity Market - Forecast to 2028’’
Key Market Insights
As per the end-user outlook, the private insurance payers’ segment is expected to be the largest segment in the global market from 2023 to 2028
As per the deployment mode outlook, the cloud-based segment holds the largest share of the market
The Asia Pacific region is analyzed to be the fastest-growing region in the market
North America region will have the largest share in the market during the forecast period [2023-2028]
ClarisHealth, Everest Group, ClaimLogiq, Exela Technologies, Optum, Cotiviti, FICO, Alivia Analytics, SAS, Health Edge (Payment Integrity Solutions), Conduent, Burgess, Cognizant, HGS Healthcare, Machinify, SyTrue, ChangeHealthcare, Infostride, A&G Healthcare, and Wipro, among others, are some of the key players in the payment integrity market.
Request for a Sample Copy of the Report @ https://www.globalmarketestimates.com/market-report/payment-integrity-market-3803
Deployment Mode Outlook (Revenue, USD Billion, 2023-2028)
Cloud-Based
On-Premise
End-User Outlook (Revenue, USD Billion, 2023-2028)
Public & Government Payers
Private Insurance Payers
Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
The U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Thailand
Indonesia
Malaysia
Singapore
Vietnam
Rest of APAC
Central & South America
Brazil
Argentina
Chile
Rest of CSA
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of MEA
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: [email protected]
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
CONTACT: Contact: Yash Jain Director - Global Accounts & Strategic Advisory Email address: [email protected] Phone Number: +1 6026667238 LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/ Website: www.globalmarketestimates.com
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ClarisHealth, Everest Group, ClaimLogiq, Exela Technologies, Optum, Cotiviti, FICO, Alivia Analytics, SAS, Health Edge (Payment Integrity Solutions), Conduent, Burgess, Cognizant, HGS Healthcare, Machinify, SyTrue, ChangeHealthcare, Infostride, A&G Healthcare, and Wipro, among others, are some of the key players in the payment integrity market.Brooklyn, New York, March 20, 2023 (GLOBE NEWSWIRE) -- According to a recently revamped/updated market research report published by Global Market Estimate
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summarize: Apple’s (AAPL) iOS 16 is finally here. The software update, which automatically downloads and installs to your phone while it charges on your nightstand overnight, brings a litany of big changes to your iPhone.
There's no denying that the update is impressive for iPhone owners.
Users will experience a redesigned lock screen, complete with widgets for everything from the weather to your activity. The update also features the ability to track your medication and improved photo editing tools.
But the software’s most buzzed-about new feature is the ability to edit and un-send text messages. Yes, you can fix grammatical errors, retract spicy texts you might have sent in haste, and finally change “duck” to the word you meant to send.
It’s a powerful tool, especially when combined with the new option that lets you mark your previously read texts as unread. But don’t think you can fire off heated texts and quickly pull them back or change what you originally sent without consequence.
That’s because Apple included a specific caveat to its new feature that tells users when someone has unsent or edited a text they sent to them.
So no, the text edit and retraction feature isn’t a get-out-of-jail-free card. You can’t launch texts at people like cruise missiles without leaving debris in their inboxes.
What’s more, if the person you try to retract a text from doesn’t have iOS 16 installed, they’ll still see your text message.
Still, Apple’s latest innovation is worth using when you need to fix a text you forgot to proofread or need to change the time for a meetup. Here’s how to use it.
How to delete and edit your texts
Deleting or editing a text is incredibly straightforward. You have to go to the text you want to delete or edit, long press it, and wait for the pop-up menu to appear.
From there you can choose the Edit or Undo Send button depending on what you want to do with your message. You can edit messages five times for up to 15 minutes after you send them.
After that, they’re permanent.
As for un-sending tests, you’ll have just two minutes to pull them back if you don’t want someone to see that message you fired off a bit too quickly.
In other words, Apple’s texting update isn’t going to let you send nasty texts and then delete them as if they never existed, and you won’t be able to edit them to change what you previously said without anyone knowing.
For everyone else who just wants to change “duck” in their texts, the new text message editing and deleting tool is a more than welcomed change.
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Apple’s iOS 16 is finally here. And the software update brings a litany of big changes to your iPhone, including the ability to edit and unsend texts.
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summarize: Apple Inc. (NASDAQ: AAPL) is making headlines today with significant legal developments. Here are the top two stories related to the tech giant:
U.S. Court Clears Path for iPhone Settlement Payments:
The United States Court of Appeals for the 9th Circuit has given the go-ahead for payments to be disbursed to members of a class action lawsuit against Apple.
The lawsuit alleged that Apple intentionally reduced the performance of iPhones with older batteries.
In a settlement reached in March 2020, Apple consented to pay between $310 million to $500 million. Eligible iPhone owners who filed claims before the October 2020 deadline are set to receive around $65.
This settlement follows accusations from 2018 where Apple was alleged to have slowed down iPhone performance due to battery wear, a claim which Apple refuted, ABC7 News reports.
Apple's Stance on U.K.'s Online Safety Bill:
The U.K.'s Online Safety Bill has stirred concerns among major tech companies, including Apple. The legislation, aimed at safeguarding children from harmful online content, mandates tech companies to provide backdoor access, potentially compromising encryption.
Transitioning from decentralized peer-to-peer encryption to a centralized system could introduce vulnerabilities in private communications.
Apple has voiced its reservations, indicating a preference to withdraw services like FaceTime and iMessage from the U.K. rather than compromise their security.
Engineers might face challenges adapting to the loss of decentralized messaging, leading to potential alternative solutions such as integrating messaging systems within IoT apps or resorting to VPN networks, Techradar reports.
Disclaimer: This article was developed with the aid of artificial intelligence and Ultima Insights and underwent an editorial review.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Apple's Stock Top Legal News Today: US iPhone Settlement and UK Encryption Controversies originally appeared on Benzinga.com
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Apple Inc. (NASDAQ: AAPL) is making headlines today with significant legal developments. Here are the top two stories related to the tech giant: U.S. Court Clears Path for iPhone Settlement Payments: The United States Court of Appeals for the 9th Circuit has given the go-ahead for payments to be disbursed to members of a class action lawsuit against Apple. The lawsuit alleged that Apple intentionally reduced the performance of iPhones with older batteries. In a settlement reached in March 2020,
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summarize: (Bloomberg) -- Apple Inc.’s major suppliers in Taiwan suffered another double-digit sales decline in August as weak consumer demand dragged down the wider electronics industry.
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Total revenue among the island’s major assemblers and manufacturers fell 12.3% from a year ago to NT$951.41 billion ($29.6 billion), according to data compiled by Bloomberg. It deepened the slump from July’s 9% drop, leading to a 7.5% fall for the year so far, mirroring a prolonged decline in sales of smartphones, laptops and other personal electronics that’s lasted since last year.
The surge in demand for artificial intelligence hardware has boosted the fortunes of companies like Quanta Computer Inc., which assembles data center servers and saw its shares rocket to all-time highs this summer. As a major partner of Nvidia Corp., Quanta is seen as a beneficiary of the US chipmaker’s runaway sales of AI accelerators, though those growing orders may take a while to translate into sales — Quanta’s cloud unit expects to double AI server sales next year.
Read more: Nvidia Partner Expects AI Server Sales to Double in 2024
Taiwan Semiconductor Manufacturing Co., the world’s biggest contract chipmaker, is the exclusive supplier of Nvidia’s AI chips and Apple’s bespoke Silicon processors for iPhones, iPads and Mac computers. Its performance is usually monitored as a gauge for demand, though the company’s said it faces a bottleneck in providing Nvidia chips, which require its most advanced packaging technique.
Early indications around the debut of Apple’s latest iPhone generation suggest the device is as popular as ever, which may help revive sales for the Cupertino, California-based firm toward the end of the year.
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©2023 Bloomberg L.P.
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(Bloomberg) -- Apple Inc.’s major suppliers in Taiwan suffered another double-digit sales decline in August as weak consumer demand dragged down the wider electronics industry.Most Read from Bloomberg‘Dead Space’ Co-Creator Departs Startup After Newest Game FlopsPassalacqua in Italy’s Lake Como Is Named Best Hotel in the WorldVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingFed Set to Pause Rate Hikes, But Don’t Count Out Another IncreaseStocks Fall as Yields Rise on Fed’s ‘H
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summarize: (Bloomberg) -- Domino’s Pizza Inc. shares jumped after the company announced a third-party ordering agreement with Uber Technologies Inc.
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The deal will allow US diners to order Domino’s through the Uber Eats and Postmates apps, according to a statement Wednesday. Orders placed on the platform will be delivered by uniformed Domino’s drivers.
“Given certain customers only order their delivery from the Uber Eats app, this deal could make Domino’s available to millions of new customers around the world,” Domino’s Chief Executive Officer Russell Weiner said in the statement.
Domino’s shares surged as much as 17% in New York trading, the most since February 2020. It was up 9.8% at 10:07 a.m., the most since October.
The company will do a test in four pilot markets in the fall and is expecting to roll out the service across the country by the end of 2023. Uber Eats will be Domino’s exclusive third-party platform in the US until at least 2024.
Domino’s said the move will help it access new customers, and that it expects “a meaningful amount of incremental delivery orders” once the platform is widely available.
Ann Arbor, Michigan-based Domino’s benefited from elevated consumer demand during the pandemic but has struggled in recent quarters after Americans returned to in-person dining and some lower-income consumers switched to eating at home.
“The partnership will likely boost Domino’s struggling domestic delivery sales and improve franchisee economics,” Peter Saleh, an analyst at BTIG, wrote in a note to clients.
(Updates with shares in fourth paragraph, analyst comment in eighth paragraph.)
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©2023 Bloomberg L.P.
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(Bloomberg) -- Domino’s Pizza Inc. shares jumped after the company announced a third-party ordering agreement with Uber Technologies Inc.Most Read from BloombergSingapore Minister Faces Most Serious Graft Probe Since 1986DeSantis Says No Thanks to $377 Million in US Energy Funds‘Pivotal’ US CPI Report to Show Lowest Core Inflation Since 2021Saudi Arabia’s PIF Wealth Fund Takes $11 Billion Investment HitPoisoned Cough Syrup Killed Kids. Authorities Cut the Investigation ShortThe deal will allow U
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summarize: (Bloomberg) -- TCW Group promoted a new cohort of leaders as the $210 billion asset manager embarks on an expansion in alternatives under Chief Executive Officer Katie Koch.
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S&P 500 Drops Below Key Level in Late-Day Slide: Markets Wrap
The firm is seeking to build on its roots as a public fixed-income manager and broaden its offerings in alternative credit, including private credit, collateralized loan obligations and private securitized credit.
“The next decade of fixed income is going to look really different from the last couple of decades,” Koch, 43, said in an interview Tuesday. “There’s more going private in the fixed-income space.”
Laird Landmann, a generalist portfolio manager and co-directer of fixed income, will retire at year-end after almost four decades at the Los Angeles-based firm, according to a letter sent to clients.
Steve Kane, co-chief investment officer and also a generalist portfolio manager, as well as co-director of fixed income, will remain with the firm until at least the end of 2024. He’ll serve as co-CIO and co-director for fixed income until year-end and will then be a generalist until he retires, the letter said.
Jerry Cudzil and Ruben Hovhannisyan were promoted to generalist portfolio managers alongside Bryan Whalen, helping to oversee more than $180 billion of fixed-income assets. Peter Van Gelderen was hired as co-head of the securitized group alongside Liza Crawford, the firm said in a statement Monday.
Koch took over as CEO this year after a 20-year career at Goldman Sachs Group Inc.
Brian Gelfand was named co-head of global credit and head of credit trading, assuming Cudzil’s former role, according to the letter. Steve Purdy becomes co-portfolio manager of the unconstrained bond fund, which makes distressed investments.
The Wall Street Journal reported some of the promotions earlier.
The firm is also focused on reinvigorating its existing investment platforms with new fund structures, as well as expanding its presence outside of the US, Koch said. TCW recently struck a deal with activist investor Engine No. 1. to acquire its exchange-traded funds unit, Koch’s first deal as CEO.
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(Bloomberg) -- TCW Group promoted a new cohort of leaders as the $210 billion asset manager embarks on an expansion in alternatives under Chief Executive Officer Katie Koch.Most Read from BloombergRussia Calls Emergency Key Rate Meeting as Ruble PlungesHollywood Studios Offer Writers a New Deal With Push From Netflix, Iger to End StrikeTrump Indictment Lays Out Sweeping Georgia Election PlotRussia’s Emergency Rate Hike Fails to Lift Ruble After CrashS&P 500 Drops Below Key Level in Late-Day Slid
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summarize: Earlier today, Google CEO Sundar Pichai announced that the company will require employees to be vaccinated before returning to work on-site. It was part of a larger letter sent to Google/Alphabet staff that also noted the company will be extending its work-from-home policy through October 18, as the Covid-19 Delta variant continues to sweep through the global population.
In a message to TechCrunch, Facebook’s VP of People, Lori Goler, confirmed a similar policy for the social media giant.
“As our offices reopen, we will be requiring anyone coming to work at any of our US campuses to be vaccinated,” Goler writes. “How we implement this policy will depend on local conditions and regulations. We will have a process for those who cannot be vaccinated for medical or other reasons and will be evaluating our approach in other regions as the situation evolves. We continue to work with experts to ensure our return to office plans prioritize everyone's health and safety.”
The statement is worded similarly to the long letter penned by Pichai, which carved out an exception for “medical or other protected reasons.” The comment doesn’t offer an adjusted timeline for the return, which had initially planned to go half-capacity in September and full by October.
Last week, a spokesperson told The Wall Street Journal, “Expert guidelines state that vaccines are highly effective at preventing variants of COVID-19, including the Delta variant. Our timelines to reopen our offices haven’t changed.”
Both statements offer some wiggle room for the company, based on things like local and state regulations, medical or personal concerns and, presumably, access to the vaccine, which can vary greatly based on region.
Amazon also responded to TechCrunch's inquiry on the matter, noting, "We strongly encourage Amazon employees and contractors to be vaccinated as soon as COVID-19 vaccines are available to them."
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Earlier today, Google CEO Sundar Pichai announced that the company will require employees to be vaccinated before returning to work on-site. It was part of a larger letter sent to Google/Alphabet staff that also noted the company will be extending its work-from-home policy through October 18, as the Covid-19 Delta variant continues to sweep through the global population. In a message to TechCrunch, Facebook’s VP of People, Lori Goler, confirmed a similar policy for the social media giant.
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summarize: Goldman Sachs analysts are less bullish on oil heading into the second half of the year.
The firm lowered its year-end price target on Brent (BZ=F) to $86 per barrel, down from a prior forecast of $95. West Texas Intermediate (CL=F) is predicted to cost $81 per barrel, compared to the previous prediction of $89.
“Supply beats drive the bulk of the softening in this update,” Callum Bruce and a team of analysts wrote in a note to investors.
Oil nations such as Russia and Iran have been making their way into the market despite Western sanctions.
The analysts said “significant supply beats from Iran and Russia have driven speculative positioning to near record-lows.”
China’s COVID policy, along with recession fears and the US’s record Strategic Petroleum Reserve release last year, all weighed on prices in the past 12 months. Exactly one year ago, Brent crude prices were sitting at around $120 per barrel. Today, they’re just north of $71.
“The extra Saudi cut and our expectation that OPEC+ will extend half of its April voluntary cut in 2024 will likely only partly offset these bearish shocks, because we are also nudging down demand modestly on petrochemical weakness,” wrote Bruce.
Prices have deteriorated in the last two months despite OPEC+’s surprise cut in early April. Earlier this month, Saudi Arabia said it will slash its oil output by another 1 million barrels per day starting in July.
Goldman Sachs’ analysts are more bullish on crude going into next year.
“While increased oil supply reduces the upside for oil, we remain relatively constructive as our forecast that rising EM demand, slowing US supply, and OPEC cuts lift Brent to $93/bbl (vs. $100 previously) by May 2024, sits 25% above the forwards,” wrote Bruce.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
Click here for the latest economic news and economic indicators to help you in your investing decisions
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Goldman Sachs oil analysts have revised their year-end target again amid more supply from sanctioned nations like Russia and Iran.
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summarize: (Bloomberg) -- Citigroup Inc. won dismissal of a suit by a former foreign-exchange trader who claimed the bank falsely implicated him in a US criminal probe of price-fixing.
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Rohan Ramchandani, who was charged but found not guilty at a 2018 trial, accused Citi of lying to regulators and leaking false information about him to the press to make him a “scapegoat.” In his 2019 suit, which sought $112 million in damages, Ramchandani said Citi made him a target to limit damage to itself and protect more senior executives from charges.
US District Judge Victor Marrero in New York on Thursday threw out the former trader’s suit. The ruling was noted in a court docket for the case, but the reasoning for the judge’s decision wasn’t immediately available. A written opinion will likely be filed after the parties submit suggestions for redacting confidential information, according to the docket notation.
Lawyers for Ramchandani didn’t immediately respond to emails seeking comment.
Read More: Ex-Citi Trader Says Bank Got Him Indicted by Distorting Chats
Ramchandani was charged along with former JPMorgan Chase & Co. trader Richard Usher and former Barclays Plc spot FX trading head Chris Ashton. Manhattan federal prosecutors accused the three of using online chatrooms to coordinate trades and manipulate prices. The three men, dubbed “the Cartel” by the government, were acquitted by jurors.
Citi in 2015 pleaded guilty to a single criminal charge of conspiring to fix prices and rig bids on trading of US dollars and euros, paying a $925 million fine to resolve its part in a sprawling price-fixing scandal.
The case is Ramchandani v. Citigroup Inc., 19-cv-09124, U.S. District Court, Southern District of New York (Manhattan).
(Adds details of case in second paragraph.)
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(Bloomberg) -- Citigroup Inc. won dismissal of a suit by a former foreign-exchange trader who claimed the bank falsely implicated him in a US criminal probe of price-fixing.Most Read from BloombergApple Tests ‘Apple GPT,’ Develops Generative AI Tools to Catch OpenAIA $500 Billion Corporate-Debt Storm Builds Over Global EconomyNadella’s Microsoft Payouts Top $1 Billion on 1,000% Stock BoomTesla Sinks as Musk Warns of More Blows to ProfitabilityMusk Says Tesla to Spend Over $1 Billion on Dojo Supe
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summarize: Bloomberg
US Consumer Spending Cools in Sign of Economy on Weaker Footing
(Bloomberg) -- US consumer spending fell in May for the first time this year and prior months were revised lower, suggesting an economy on somewhat weaker footing than previously thought amid rapid inflation and Federal Reserve interest-rate hikes.Most Read from BloombergDemocrats Weigh Paring Biden Tax Hike to Win Over ManchinTrump’s Final Scene Didn’t Go According to ScriptVenice Plans to Start Weeding Out Cheap TouristsFauci Suffers Covid Symptom Rebound After Course of Pfizer’s PaxlovidPokem
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(Bloomberg) -- A flight test of a hypersonic missile system in Hawaii ended in failure due to a problem that took place after ignition, the Department of Defense said, delivering a fresh blow to a program that has suffered stumbles.Most Read from BloombergDemocrats Weigh Paring Biden Tax Hike to Win Over ManchinTrump’s Final Scene Didn’t Go According to ScriptVenice Plans to Start Weeding Out Cheap TouristsFauci Suffers Covid Symptom Rebound After Course of Pfizer’s PaxlovidPokemon Go Creator Ni
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Executives, experts, and influencers join the Yahoo Finance team to discuss what's moving the world of finance.
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summarize: (For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.)
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Alaska Air drops on Hawaiian Holdings buyout deal
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Crypto stocks surge on bitcoin rally
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Uber gains on S&P 500 inclusion
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Futures down: Dow 0.22%, S&P 0.35%, Nasdaq 0.49%
(Updated at 7:00 a.m. ET/ 1200 GMT)
By Amruta Khandekar and Shristi Achar A
Dec 4 (Reuters) - U.S. stock index futures slipped on Monday, as investors turned wary ahead of a slew of economic data this week that is likely to test the narrative about a cut in interest rates by the Federal Reserve early next year.
Wall Street kicked off December on an upbeat note, extending gains from the previous month that were driven by robust earnings and expectations that the Fed was done with its rate hiking campaign.
The benchmark S&P 500 registered its highest close of the year on Friday as remarks from Fed Chair Jerome Powell bolstered the peak rates view.
Traders have priced in the likelihood that the central bank will keep rates unchanged next week, with about 59% betting on rate cuts starting as soon as March 2024, according to the CME Group's FedWatch tool.
However, some analysts have cautioned that markets have been too quick to price in lower interest rates.
"We are not in the camp of early or aggressive cuts. Inflation has been coming down but the path towards 2% is still long," Mohit Kumar, chief European economist at Jefferies, said in a note.
A number of economic reports through the week will provide a gauge on the interest rate path as well as on the potential for a "soft landing" - where the Fed manages to bring inflation under control while averting a recession.
Investors are awaiting readings on U.S. services sector activity and a survey on job openings, while November's non-farm payrolls report is set to grab the spotlight on Friday.
Pressuring equities, Treasury yields edged higher on Monday after a sharp fall in the previous week.
Megacap growth stocks including Nvidia, Meta Platforms and Apple edged lower between 0.6% and 0.8% before the bell.
Also hurting sentiment on Monday were renewed fears about a widening of the war between Israel and Hamas after an attack on three commercial vessels in the southern Red Sea.
Fed officials have now entered a media blackout period before the interest rate decision on December 13.
Shares of Alaska Air Group dropped 10.7% after the carrier said on Sunday it would acquire peer Hawaiian Holdings for $1.9 billion, including debt. Hawaiian's shares nearly tripled in value.
At 7:00 a.m. ET, Dow e-minis were down 81 points, or 0.22%, S&P 500 e-minis were down 16 points, or 0.35%, and Nasdaq 100 e-minis were down 78 points, or 0.49%.
Shares of cryptocurrency firms such as Coinbase Global , Riot Platforms and Marathon Digital rose between 7.4% and 12.2% premarket as bitcoin crossed $40,000 for the first time this year.
Uber added 4.4% as the ride-hailing firm was set to join the S&P 500 index, effective December 18. (Reporting by Amruta Khandekar and Shristi Achar A; Editing by Anil D'Silva and Pooja Desai)
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U.S. stock index futures slipped on Monday, as investors turned wary ahead of a slew of economic data this week that is likely to test the narrative about a cut in interest rates by the Federal Reserve early next year. Wall Street kicked off December on an upbeat note, extending gains from the previous month that were driven by robust earnings and expectations that the Fed was done with its rate hiking campaign.
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summarize: Empower your business-critical 'frontline workers'
BOULDER, Colo., March 24, 2022 /PRNewswire/ -- Spectralink, a leading international enterprise mobility solutions provider, today reveals the launch of its DECT devices integrated with Microsoft Teams SIP Gateway.
Enterprise organizations rely heavily on business-critical 'deskless workers' – those that must go to a business location to carry out their role. We have all come to rely on those in Healthcare, Manufacturing, Retail & Logistics recently.
At the same time, Enterprise businesses globally have embraced the significant business benefits of cloud-based collaboration tools.
Those 'deskless workers' must be able to communicate and collaborate easily with their colleagues who work across locations, shifts, and time zones from anywhere, enabled by cloud-based communication and collaboration tools like Microsoft Teams.
Spectralink has over 30 years of experience in bridging between Enterprise communications platforms & infrastructure, from on-premise digital PBXs to Private and Public cloud-delivered Collaboration tools and engineering the world-class devices that deskless workers need to do their job – wherever they are and whatever the environment.
This new integration further enables Enterprise customers to migrate to Microsoft Teams while keeping those business-critical deskless workers connected through and after the process.
"Open integration is part of our DNA," declared Julien Bertheuil, Managing Director EMEA at Spectralink Corporation, "and this latest integration proves our commitment to the objective of providing customers with choice over their preferred systems. As more and more businesses were coming to us asking for support migrating to the cloud to improve worker collaboration and safety, our experience in enterprise-grade DECT, combined with our knowledge of the UCaaS market, meant we were ideally placed to develop this much-needed integration with Microsoft Teams. We hope more and more businesses will now be able to complete their digital transformation journey seamlessly."
Mahendra, Sekaran, Vice President, Teams Engineering at Microsoft concludes: "Spectralink DECT integration with Microsoft Teams SIP Gateway enables Teams users to use their DECT devices as another Teams endpoint while getting access to all of Teams collaboration capabilities. Frontline workers rely on these devices to get their work done, and this new integration allows them to stay connected with their colleagues while on the go."
Ask your Microsoft Partner about how Spectralink can support your business communications needs with DECT integration with Microsoft Teams SIP Gateway, or contact us directly at www.spectralink.com/Microsoft or email us at [email protected].
View original content to download multimedia:https://www.prnewswire.com/news-releases/spectralink-dect-devices-now-integrated-with-microsoft-teams-sip-gateway-301509688.html
SOURCE Spectralink
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Spectralink, a leading international enterprise mobility solutions provider, today reveals the launch of its DECT devices integrated with Microsoft Teams SIP Gateway.
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summarize: The global smartphone market is a battle between two heavyweights: Samsung and Apple.
According to Counterpoint Research, Samsung controlled 22% of the global smartphone market as of the first quarter of 2023. That’s just above Apple’s 21% market share—and well ahead of Chinese rivals including Oppo and Xiaomi.
To break up that virtual tie with Apple (AAPL), and capture a greater share of the market, especially in the U.S. where it lags behind its Cupertino-based rival, Samsung is going all in on its foldable smartphone. Case in point: At its "Unpacked" event held in South Korea in July, the company positioned its new Galaxy Z Fold 5 and Galaxy Z Flip 5 as its premier devices.
The foldables feature two unique designs. The Fold 5 folds like a book, while the Flip 5 folds like an old-school clamshell phone. And while these are Samsung’s fifth generation foldables, they’re also the company’s best examples of how the future of such phones will look and function.
They also prove that foldables aren’t just a flash-in-the pan idea.
They’re making the smartphone market, well, interesting again. “The smartphone wars have really just been large black rectangles and the contest was really just the processor speed and the camera,” IDC research director Ramon Llamas told Yahoo Finance.
“So for me, it's kind of refreshing that we're going into something that's just a lot more visible, and a lot more different than what we've seen before,” he added.
Samsung needs to win over iPhone fans
Samsung’s biggest challenge in winning over Apple fans with its foldables will undoubtedly be convincing them to ditch their iPhones for phones powered by Google's (GOOG, GOOGL) Android. And that’s no easy task.
Apple and Samsung both work to lock users into their respective operating systems via exclusive apps, accessories like watches and headphones, and subscription services. One of Apple’s biggest lock-in apps is iMessage, which allows users to text high-quality images and videos. Texting between Android and iOS limits image and video quality.
Ask any iPhone user how they feel when someone drops a green text bubble into a group chat, and you’ll see how hard it is to break people’s habits.
Samsung’s foldables aren’t going to change that, but they could help push those users who are on the fence or not as dedicated to the Apple ecosystem to take the leap. Samsung is currently running TV and web ads daring iPhone users to make the change.
But Apple could derail that by launching its own foldable, though there’s no guarantee such a device is on its way. (According to Bloomberg’s Mark Gurman, the company is considering a foldable iPad at this point.)
“Apple is doing what Apple does. It stands on the shoulders of the giants that came before them until they make their move,” IDC’s Llamas said.
The foldable phone market is still relatively small, with the industry shipping just 2.52 million units in Q1 2023 compared to the broader market, which shipped 280.2 million in the same time period.
With Samsung posed to lead the market for the time being, it all comes down to whether it can persuade iPhone users to make the switch. Now we just have to wait and see if they're flip.
Daniel Howley is the tech editor at Yahoo Finance. He's been covering the tech industry since 2011. You can follow him on Twitter @DanielHowley.
Click here for the latest technology business news, reviews, and useful articles on tech and gadgets
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Samsung is hoping its latest foldable smartphones will win over iPhone users looking for a new kind of device.
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summarize: It wouldn't be CES without Samsung unveiling projects from C-Lab, and the latest batch is once more trying to solve common problems through unusual methods. For some, the most practical may be SelfieType. As the name suggests, it uses your device's selfie camera and AI to translate finger movements into keyboard input. You wouldn't need to grab your phone to reply to a text when your hands are grubby.
The company might also come to the rescue of anyone grappling with hair loss. Its Becom project uses a handheld device, AI and a mobile app to scan your scalp for dead skin, hair follicle density and other traits, and then suggests the best solution. You can even study trends to see if you're bouncing back from hair loss.
Other highlights? The "window-shaped" SunnySide produces artificial sunlight that changes over time to help you produce vitamin D without the harmful effects you might experience from natural sunshine, while Ultra V blends a sensor and service to track UV rays and help you deal with skin conditions.
Samsung is also showcasting work from C-Lab's external startups. You'll see a PiBo humanoid robot from Circulus that provides info and "simple conversation" based on dialog and facial expressions. FITT produces customized exercise routines and predicts diseases based on fitness tests for cardio, muscle strength and posture. Vtouch uses eye and finger tracking to control devices like cars and smart homes, while Smoothy is a group video chat app that starts in silent mode to let you answer on your own terms.
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It wouldn't be CES without Samsung unveiling projects from C-Lab, and the latest batch is once more trying to solve common problems through unusual methods. For some, the most practical may be SelfieType. As the name suggests, it uses your device's selfie camera and AI to translate finger movements
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summarize: There may soon be more ways to get your friends to pay their share of the check. Facebook (or its parent company Meta) announced today that it's testing Split Payments, "a free and fast way to share the cost of bills and expenses." Starting next week, users in the US will be able to charge their friends in a group chat or from the Payments Hub in Messenger.
In a group chat, you'll need to hit the "Get Started" button to initiate the payments, and then you can choose to divide a sum of money evenly or decide what each person owes. You can also choose to include yourself and add a customizable message. The money will be sent through Facebook Pay, and after you submit, your request will be sent to the group's chat room.
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Starting next week, you'll be able to charge your friends in a group chat or from the Payments Hub in Messenger.
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summarize: (For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.)
*
Chevron to buy smaller rival Hess in $53 billion deal
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Salesforce down after brokerage downgrade
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Walgreens up after JPM upgrade
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Futures down: Dow 0.67%, S&P 0.74%, Nasdaq 0.88%
(Updated at 6:00 a.m. ET/1000 GMT)
By Shubham Batra and Shashwat Chauhan
Oct 23 (Reuters) - Futures tracking Wall Street's main stock indexes slumped on Monday as yields on the benchmark U.S. 10-year Treasury note hit a crucially watched 5% mark, sparking a selloff in megacap stocks.
The
yield
on the note touched the July 2007 milestone that it briefly attempted to scale last week. It was last at 5.0144%.
"When investors can earn a 5% annual return on safe assets such as government bonds, they are less likely to take chances on riskier plays," Marios Hadjikyriacos, senior investment analyst at forex broker XM, said in a note.
"Beyond providing an attractive alternative to equities, higher bond yields also make it more costly for businesses to take on debt, limiting the scope for expansion and ultimately earnings growth."
Megacaps including Apple, Microsoft, Alphabet, Nvidia, Meta Platforms and Amazon.com slid between 0.6% and 1.5% in premarket trading.
Focus will also remain on a busy week of earnings, with four of the 'Magnificent Seven' stocks reporting later this week whose gains have powered the S&P 500 higher in 2023 while the rest of the indexes lagged.
Chipmaker Intel, oil major Exxon Mobil, General Motors are some of the other companies reporting quarterly results this week.
Of the 86 companies in the S&P 500 that have reported earnings so far in the third quarter, 78% have been above analyst estimates, according to the LSEG data. Overall, third-quarter earnings are likely to grow 1% year-on-year.
Meanwhile, Israel
bombarded Gaza
with air strikes overnight, with Prime Minister Benjamin Netanyahu convening a meeting of his top generals and his war cabinet to assess the escalating conflict.
These rising tensions, along with surging bond yields on higher rates expectations, pulled Wall Street lower last week, with the S&P 500 falling 1.26% and the Cboe Volatility index closing at its highest since March 24.
The benchmark stock index is down 8% from late July, when it hit its highest for the year, though still up 10% year-to-date.
U.S. GDP print will be closely monitored by investors in the week amid expectations that the economy grew at a robust 4.2% in the third quarter, which might warrant tighter monetary policy.
Federal Reserve Chair Jerome Powell will be giving brief introductory remarks at an event on Wednesday but it is unlikely he would speak on monetary policy since the blackout period for the Federal Open Market Committee (FOMC) kicked in on Saturday.
The week will end with the release of the personal consumption expenditure (PCE) price index - the Fed's preferred inflation gauge - for September.
At 6:00 a.m. ET, Dow e-minis were down 224 points, or 0.67%, S&P 500 e-minis were down 31.5 points, or 0.74%, and Nasdaq 100 e-minis were down 129.75 points, or 0.88%.
Salesforce dipped 2.3% as Piper Sandler cut its rating on the stock to "neutral" from "overweight", while pharmacy chain operator Walgreens Boots Alliance added 3.1% after J.P. Morgan upgraded the stock to "overweight".
Chevron
fell 2.9% after the energy major said it will buy smaller rival Hess Corp in a $53 billion all-stock deal. The latter was up 2.3%. (Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru; Editing by Nivedita Bhattacharjee and Maju Samuel)
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Futures tracking Wall Street's main stock indexes slumped on Monday as yields on the benchmark U.S. 10-year Treasury note hit a crucially watched 5% mark, sparking a selloff in megacap stocks. "Beyond providing an attractive alternative to equities, higher bond yields also make it more costly for businesses to take on debt, limiting the scope for expansion and ultimately earnings growth."
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summarize: (Bloomberg) -- Equity traders battered by the worst sell-off since the global financial crisis are poised to absorb another blast of volatility Friday when futures and options on indexes and individual stocks expire.
It’s an event known as “quadruple witching” that takes place every quarter. Typically it coincides with the rebalancing of the S&P 500 Index, spurring price swings and increased trading volume.
The turbulence, which tends to cluster around the market open and close, is adding another layer of uncertainty in a market where traders are already on edge. Quadruple witching weeks tend to be extremely volatile as large derivative positions are rolled over. Since 1990, the S&P 500 has swung 3.1 percent during the witching week, almost twice the average for all periods, data compiled by BMO Capital Markets show.
On the bright side, the potential increase in volume may help market liquidity as trading tends to slow heading into the holiday season, according to Stephen Carl, a trader at Williams Capital Group. The market is scheduled to open for half a day on Monday before closing for Christmas.
“You don’t want to catch a falling knife, but you have people contemplating valuation,” Carl said by phone. “If you need to unload or take positions, it’s certainly a helpful opportunity that may not be there Monday.”
Heading into Friday, the S&P 500 has fallen deeper into its second correction of the year. Down 15 percent from the start of October, the index is at the lowest level since September 2017 and is on track for its worst quarter since 2008.
From the Federal Reserve to U.S.-China trade tensions and fears for global growth, there’s no shortage of culprits for the equity sell-off. What may have compounded the damage is a lack of liquidity, where a stock’s price can be easily swayed by a buy or sell order.
A measure of liquidity for single stocks has fallen 42 percent over the past year to hover near the lowest level since the global financial crisis, while the gauge for S&P 500 futures tumbled 70 percent to a decade low, Goldman Sachs strategists wrote in a note this week.
But volume will pick up, at least for a day, if history is any guide. Last time “quadruple witching” and an S&P 500 rebalancing took place, on Sept. 21, almost 11 billion shares changed hands, 71 percent above the average in the previous three months.
This time, the rebalancing could force $23.9 billion of trades, up from around $19.7 billion a year ago, S&P Dow Jones estimated on Dec. 16.
To contact the reporter on this story: Lu Wang in New York at [email protected]
To contact the editors responsible for this story: Courtney Dentch at [email protected], Richard Richtmyer, Samuel Potter
For more articles like this, please visit us at bloomberg.com
©2018 Bloomberg L.P.
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It’s an event known as “quadruple witching” that takes place every quarter. Typically it coincides with the rebalancing of the S&P 500 Index, spurring price swings and increased trading volume. Quadruple witching weeks tend to be extremely volatile as large derivative positions are rolled over.
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summarize: As central banks pile up gold reserves, investors are also accumulating the precious metal, JPMorgan reports.
The bank estimates gold accumulation to be at the highest level since 2012.
But its uncertain the central bank momentum will last, with buy ups normalizing last quarter.
A fixation among central banks on expanding their gold reserves since 2022 has driven investors to also allocate more of the safe haven asset, JPMorgan said in a note on Thursday.
While the bank has found that global traders have largely been underweight non-gold commodity allocations in the past year, their estimated exposure to the yellow metal has increased to its highest level since 2012.
"In other words, investors' allocation to gold looks rather high by historical standards at the moment and one needs to assume a structural increase in central bank demand beyond historical norms (due to fear of sanctions or general diversification away from G7 government bonds) to be bullish on gold," JPMorgan wrote.
Since Russia's invasion of Ukraine in early 2022, foreign central banks have added to their gold reserves in an effort to be less dependent on the US dollar. Though the world's staple reserve currency, the greenback's weaponization against Russia served as a warning to other countries with large exposures to the US currency.
But while central banks added 228.4 tons of gold in the first quarter — a 176% increase from a year prior — JPMorgan said that continued momentum is uncertain. The note cited a second quarter slowdown, where net purchases normalized at around 100 tons.
However, this could have been due to turmoil in Turkey's local gold market, causing its central bank to increase sales.
Though this normalization trend may only be temporary, it would help restore a more traditional balance between gold price levels and real bond yields. Central bank demand has driven the commodity's price beyond what would be suggested by real 10-year Treasury yields.
JPMorgan added: "While before the pandemic gold ETF flows was the demand component exhibiting the highest correlation with gold prices, and thus the most important flow to watch, after the pandemic it has been central bank flows showing the highest correlation with gold."
A Wednesday report from The World Gold Council cautioned that gold may begin to underperform as long-dated Treasury yields keep climbing, typically an bad sign for gold. It's for this reason that it declined a marginal 1% in August. This also contributed to $3 billion in global gold ETF outflows that month.
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A central bank fixation on gold prompted outside investors to also accumulate the metal safe haven asset, JPMorgan reported.
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summarize: If you've managed to beat the bots and score a PlayStation 5 over the last 13 months, you now have another way to watch movies and TV for free. Amazon's IMDb TV is now available on the console in the US. The app landed on Xbox Series X/S and PS4 earlier this year.
You'll be able to check out Amazon Originals, including shows like Alex Rider and Top Class: The Life and Times of the Sierra Canyon Trailblazers. There's a growing ad-supported library of licensed shows and movies too, such as Chicago Fire, All in the Family and that classic family holiday favorite, Die Hard. Amazon and Universal also reached an agreement earlier this year to bring many of the studio's movies to IMDb TV, including The Invisible Man, F9, Despicable Me 2 and Shrek 2.
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It's another way to watch free movies and TV if you've managed to snag the console.
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summarize: New strategic partnership accelerates high-energy density battery solutions
ST. LOUIS, Oct. 20, 2021 /PRNewswire/ -- EaglePicher® Technologies, a leading innovator of battery power and energy storage systems for defense and aerospace announced today that the Intelligence Advanced Research Projects Activity (IARPA) has awarded their team a contract award for innovative battery technology development.
This partnership & IARPA award allows EaglePicher to move innovative battery technology into full-scale production.
The strategic partnership includes Conamix, a venture-backed battery materials, early stage development company based in Ithaca, NY, Ionic Materials, Inc. an innovator in solid state electrolyte materials based in Woburn, MA and EaglePicher.
The multi-year award is part of IARPA's Robust Energy Sources for Intelligence Logistics in Extreme Novel and Challenging Environments (RESILIENCE) program. The team, led by Conamix, will develop advanced high-energy density, long calendar life, sulfur-based batteries.
EaglePicher will design, model, and optimize the electrochemical cells and integrate them into a full battery system utilizing advanced manufacturing capabilities. Conamix will develop a new, nanostructured sulfur metal sulfide (SMS) hybrid cathode system, and Ionic Materials will incorporate its advanced protected lithium-metal anode (PLA) technology into the cell electrochemistry.
The resulting impact will be batteries with extended shelf life, superior energy density, superb low-temperature performance, and high-power pulse capabilities. These key technological features will be extensively used in mission-critical aerospace and defense batteries as well as the commercial vehicle market.
"EaglePicher will utilize our existing and extensive R&D capabilities and production facilities which have established, mature quality systems and ISO certified manufacturing for cell and battery production," commented George Cintra, EaglePicher's Chief Technology Officer. "This partnership and the IARPA award allows us to incorporate Conamix's hybrid cathode and Ionic Materials solid-state electrolytes into full scale, mature product demonstrators."
About EaglePicher
EaglePicher Technologies designs, develops and produces mission-critical power systems for organizations such as the Department of Defense and NASA. Their reputation as an industry-leading producer of batteries, battery management systems and energetic devices stems from over 80 years of meeting the demanding requirements of the defense, aerospace and medical industry's battery applications. The company has nine North American manufacturing and research and development sites and over 800 employees. For more information, visit www.eaglepicher.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/eaglepicher-announces-award-for-iarpa-resilience-program-for-advanced-innovative-battery-technology-development-301405029.html
SOURCE EaglePicher Technologies
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EaglePicher® Technologies, a leading innovator of battery power and energy storage systems for defense and aerospace announced today that the Intelligence Advanced Research Projects Activity (IARPA) has awarded their team a contract award for innovative battery technology development.
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summarize: (Bloomberg) -- Charles Schwab Corp.’s free trading offer is turning out to be a hit, drawing in new customers at a fast clip.
Clients opened 142,000 new trading accounts in October, a 31% jump over September’s pace , according to a report Thursday before markets opened. Total brokerage accounts climbed to 12.2 million and firmwide assets grew to a record $3.85 trillion.
Schwab escalated the brokerage industry’s price war on Oct. 1 when it eliminated commissions on U.S. stocks, mutual funds, exchange-traded funds and some options. The move is likely to hit revenue but is aimed at wooing new assets to the San Francisco-based firm, which has been generating most of its income from interest earned on client cash holdings.
Average interest-earning assets were $266 billion in October, little changed from September and up about 1% from a year earlier. The gain in brokerage accounts is just 7% more than October 2018.
Other brokerages that cut commissions have reported divergent trends in October client activity:
E*Trade Financial Corp., which announced zero commission trades shortly after Schwab, posted 9% month-over-month and year-over-year jumps in daily average revenue trades, or DARTs, a key measure of customer activity.TD Ameritrade Holding Corp.said DARTs were 11% higher in October than September but down 8% from a year earlier.Interactive Brokerage Group Inc., which announced commission-free stock and ETF trading in September, said DARTs dropped 5% month-over-month and 19% year-over-year.
A more detailed picture of the bottom-line impact of the fee change will be available in January, when Schwab reports fourth-quarter results.
(Adds interest earning assetsd in fourth paragraph.)
To contact the reporter on this story: John Gittelsohn in Los Angeles at [email protected]
To contact the editors responsible for this story: Sam Mamudi at [email protected], Josh Friedman, Alan Mirabella
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
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(Bloomberg) -- Charles Schwab Corp.’s free trading offer is turning out to be a hit, drawing in new customers at a fast clip.Clients opened 142,000 new trading accounts in October, a 31% jump over September’s pace , according to a report Thursday before markets opened. Total brokerage accounts climbed
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summarize: Each and every time Apple collects the technology press for an event, TechCrunch takes the time to track the impact of the company's announcements on the value of its equity. The result is usually nothing at all; investors simply don't trade Apple based on the products or services it announces.
If that surprises you, welcome to the club. You might think that the substance of what Apple announces matters to folks buying and selling its shares on any given day, but it mostly doesn't.
Today's chart makes this lack of connection plain. Here's stock market data through around 3 p.m. ET today, comparing Apple's stock with the Nasdaq Composite's trading over the same time frame, including during its pre-recorded video presentation:
The Apple event started at around 1 p.m. ET, and after that point, the two lines stayed together -- as they had before. Honestly, it is hard to spot any real divergence at all, even though I took copious notes about minute price movements during the presentation.
But that doesn't mean that the Apple event had no impact on the stock market. It did, in the form of taking a whacking to the value of Affirm. Affirm is a publicly traded buy now, pay later (BNPL) service, which competes with Klarna, Sezzle, and other similar services from fintech giants. Apple is also getting into the game, it announced today, with a service called Apple Pay Later.
The result of that bit of news was to temporarily tank Affirm's stock. The pink arrow points to when the Apple Pay Later news dropped:
So we did get to see Apple's event impact a stock, just not the one that we expected it to; investors are paying attention, at least somewhat.
Sadly, not every company that was mentioned either implicitly or explicitly saw movement on Apple's words. Bird, the e-scooter company that rode a SPAC to the public markets, is trading at $0.71 per share today, a decline of 5.4%. Apple mentioned its hardware briefly in its keynote. The stock failed to move.
Apple's event did nothing for its own shares, hurt Affirm, and failed to save Bird. So much for the reality-distortion effect.
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Each and every time Apple collects the technology press for an event, TechCrunch takes the time to track the impact of the company's announcements on the value of its equity. The result is usually nothing at all; investors simply don't trade Apple based on the products or services it announces. You might think that the substance of what Apple announces matters to folks buying and selling its shares on any given day, but it mostly doesn't.
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summarize: The debt ceiling debate isn’t worrying Wall Street yet. In Bank of America’s latest fund manager survey, 71% of investors said they expect a debt ceiling resolution before the “X-Date.”
The survey conducted from May 5-11 showed a 9-percentage-point drop in confidence from a month prior that the U.S. will reach a resolution despite Treasury Secretary Janet Yellen recently circling June 1 as the date the U.S. may no longer be able to pay its obligations.
When asked in the survey what the biggest tail risks facing markets are, the U.S. debt ceiling was at the bottom of the top five answers, representing 8% of responses. A “bank credit crunch & global recession,” topped concerns with roughly 1-out-of-3 respondents focused there.
President Joe Biden and Speaker of the House Kevin McCarthy met last week and resumed discussions on Monday. But it appears little progress toward a deal has been made.
“I don’t think we’re in a good place,” McCarthy said on Monday.
Yellen warned in a speech on Tuesday that “it is very conceivable that we’d see a number of financial markets break" if a deal isn’t made. But that concern hasn’t played out in markets yet.
The S&P 500 has been trading in a range of 3,800-4,200 for seven months and is largely unchanged since the start of first-quarter earnings.
The fear for investors is that the crisis isn’t resolved by June 1 and therefore puts pressure on markets that are already worried about banking turmoil, sticky inflation and the Federal reserve’s next decision on interest rates.
Prior research from BofA indicates that markets don’t usually react to debt ceiling concerns until two weeks prior to the X Date. That would start in earnest on Thursday.
If history is an indicator, then some volatility and eventual move to the downside could be in store. In a note to clients on Monday, RBC Capital’s Lori Calvasina noted that when the debt ceiling crisis comes along with other stresses in markets, the S&P 500 has nose dived in a range from 10-19%.
In 2011, a year that matches the current political structure, markets rallied to start the year. But once debt ceiling concerns carried into the summer the S&P 500 tanked, falling nearly 20% peak-to-trough leading into the August 2, 2011 X-Date.
"EVR ISI Strategy expects any debt ceiling extension is likely to come in response to market pain rather than to prevent," Julian Emmanuel, who leads Evercore ISI's Equity and Portfolio strategy in a note to clients. "For investors’ and the credit rating of the U.S., the best outcome in the short term (however unappealing long term) may well be “shattering the months’ long ceiling”.
Josh is a reporter for Yahoo Finance.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
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While the debt ceiling X-date looms closer, investors tell Bank of America they aren't worried yet.
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summarize: Sony has acquired Housemarque, the Helsinki-based studio behind PlayStation games including Returnal for the PS5, and arcade-style shooters like Super Stardust HD and Dead Nation. Financial details have not been disclosed. The move sees Sony Interactive Entertainment further bolstering its in-house gaming roster after previously snapping up Ratchet and Clank developer Insomniac Games in 2019. Before that, it acquired Horizon Zero Dawn developer Guerilla Games and Sucker Punch, the studio behind the critically acclaimed Japanese period epic Ghost of Tsushima.
With the addition of Housemarque, Sony Interactive Entertainment now has 13 companies under its PlayStation Studios banner. The deal should help it to go toe-to-toe with Microsoft, which recently completed a massive acquisition itself by snagging Bethesda's parent ZeniMax for $750 billion in order to beef up its Xbox Game Pass subscription service.
After a run of classic PlayStation games, Housemarque recently reiterated its credentials with Returnal, a AAA sci-fi adventure for the PS5 that was greeted with widespread acclaim. Sony said that the studio's day-to-day operations will continue to be run by its current management team with input from PlayStation Studios personnel.
“Housemarque has flexed its creative palette on a wide range of PlayStation games over the years that have continually showcased the power of our hardware,” said Jim Ryan, president and CEO, Sony Interactive Entertainment. “The addition of Housemarque to PlayStation Studios reiterates our commitment to elevating the best development teams in the industry and delivering new experiences that can only be found on the PlayStation platform.”
“After more than 15 years of successfully collaborating, we’re excited to amplify our potential even further and join PlayStation Studios,” said Ilari Kuittinen, co-founder and managing director, Housemarque. “Returnal is a testament to our strong relationship with PlayStation Studios and the organization believing in us to take a risk and give us the freedom to explore our creativity and develop something unique. We can’t wait to bring PlayStation fans more fresh, new experiences.”
This is a developing article, please refresh for updates.
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Sony has acquired Housemarque, the gaming studio behind PS5 hit Returnal.
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