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NEW YORK (AP) — Brian Thompson led one of the biggest health insurers in the U.S. but was unknown to millions of people his decisions affected. Then Wednesday's targeted fatal shooting of the UnitedHealthcare CEO on a midtown Manhattan sidewalk thrust the executive and his business into the national spotlight. Thompson, who was 50, had worked at the giant UnitedHealth Group Inc for 20 years and run the insurance arm since 2021 after running its Medicare and retirement business. As CEO, Thompson led a firm that provides health coverage to more than 49 million Americans — more than the population of Spain. United is the largest provider of Medicare Advantage plans, the privately run versions of the U.S. government’s Medicare program for people age 65 and older. The company also sells individual insurance and administers health-insurance coverage for thousands of employers and state-and federally funded Medicaid programs. The business run by Thompson brought in $281 billion in revenue last year, making it the largest subsidiary of the Minnetonka, Minnesota-based UnitedHealth Group. His $10.2 million annual pay package, including salary, bonus and stock options awards, made him one of the company's highest-paid executives. The University of Iowa graduate began his career as a certified public accountant at PwC and had little name recognition beyond the health care industry. Even to investors who own its stock, the parent company's face belonged to CEO Andrew Witty, a knighted British triathlete who has testified before Congress. When Thompson did occasionally draw attention, it was because of his role in shaping the way Americans get health care. At an investor meeting last year, he outlined his company's shift to “value-based care,” paying doctors and other caregivers to keep patients healthy rather than focusing on treating them once sick. “Health care should be easier for people,” Thompson said at the time. “We are cognizant of the challenges. But navigating a future through value-based care unlocks a situation where the ... family doesn’t have to make the decisions on their own.” Thompson also drew attention in 2021 when the insurer, like its competitors, was widely criticized for a plan to start denying payment for what it deemed non-critical visits to hospital emergency rooms. “Patients are not medical experts and should not be expected to self-diagnose during what they believe is a medical emergency,” the chief executive of the American Hospital Association wrote in an open letter addressed to Thompson. “Threatening patients with a financial penalty for making the wrong decision could have a chilling effect on seeking emergency care.” United Healthcare responded by delaying rollout of the change. Thompson, who lived in a Minneapolis suburb and was the married father of two sons in high school, was set to speak at an investor meeting in a midtown New York hotel. He was on his own and about to enter the building when he was shot in the back by a masked assailant who fled on foot before pedaling an e-bike into Central Park a few blocks away, the New York Police Department said. Chief of Detectives Joseph Kenny said investigators were looking at Thompson's social media accounts and interviewing employees and family members. “Didn’t seem like he had any issues at all,” Kenny said. "He did not have a security detail.” AP reporters Michael R. Sisak and Steve Karnowski contributed to this report. Murphy reported from Indianapolis. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest in local public safety news with this weekly email.
Are you a fan of stocks like I am? If you are, then it could be worth looking at the two ASX growth shares listed below. They have been named as buys by brokers and tipped to rise strongly from current levels. Here's what analysts are saying about them: ( ) Morgans thinks that NextDC could be an ASX growth share to buy for big returns. It is a leading provider of innovative data centre outsourcing solutions, connectivity services, and infrastructure management software. NextDC has been growing at a strong rate for many years and the broker believes this will continue for some time to come. This is thanks to the significant and ongoing structural demand for data centre capacity, which is being underpinned by the artificial intelligence megatrend. The broker said: Enjoying all the benefits of the AI growth opportunity with less volatility are the operators of data centres. Data centres are facilities that store, process, and manage the vast amounts of data foundational to AI, ensuring secure and efficient data flow, backup, and recovery. [...] Digital Realty recently reported a record sales quarter during which it sold double the data centre capacity of its previous high and about four times more capacity than it usually sells in a quarter. This reinforces our view that the significant demand for cloud computing and AI-related digital infrastructure is going to unpin attractive returns and long-term growth. [...] Our preferred exposure is NEXTDC. It has 17 operational data centres in Australia and nearly a dozen under construction or about to be built across Australasia and Asia. Morgans currently has an add rating and $20.50 price target on its shares. This suggests that upside of 25% is possible for investors over the next 12 months. ( ) Another ASX growth share that could deliver big returns for investors is Xero. It is a global small business platform provider with 4.2 million subscribers at the last count. Xero notes that its smart tools help small businesses and their advisors to manage core accounting functions like tax and bank reconciliation, and complete other important small business tasks like payroll and payments. While 4.2 million users sounds like a lot, Goldman Sachs notes that this is only a small portion of its total addressable market (TAM). It estimates this to be over 100 million subscribers across the globe, giving it a significant growth runway. The broker said: Xero is a Global Cloud Accounting SaaS player, with existing focuses in ANZ, UK, North American and SE Asian markets. We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$100bn TAM. Given the company's pivot to profitable growth and corresponding faster earnings ramp, we see an attractive entry point into a global growth story with Xero our preferred large-cap technology name in ANZ – the stock is Buy rated. Goldman currently has a conviction buy rating and $201.00 price target on its shares. This implies potential upside of 16% for investors.
US President Joe Biden on Sunday said deposed Syrian leader Bashar al-Assad should be "held accountable" but called the nation's political upheaval a "historic opportunity" for Syrians to rebuild their country. In the first full US reaction to Assad's overthrow by an Islamist-led coalition of rebel factions, Biden also warned that Washington will "remain vigilant" against the emergence of terrorist groups, announcing that US forces had just conducted fresh strikes against militants from the Islamic State organization. "The fall of the regime is a fundamental act of justice," Biden said, speaking from the White House. "It's a moment of historic opportunity for the long-suffering people of Syria." Asked by reporters what should happen to the deposed president, who reportedly has fled to Moscow, Biden said that "Assad should be held accountable." Biden -- set to step down in January and make way for Republican Donald Trump's return to power -- said Washington will assist Syrians in rebuilding. "We will engage with all Syrian groups, including within the process led by the United Nations, to establish a transition away from the Assad regime toward independent, sovereign" Syria "with a new constitution," he said. However, Biden cautioned that hardline Islamist groups within the victorious rebel alliance will be under scrutiny. "Some of the rebel groups that took down Assad have their own grim record of terrorism and human right abuses," Biden said. The United States had "taken note" of recent statements by rebels suggesting they had since moderated, he said, but cautioned: "We will assess not just their words, but their actions." Biden said Washington is "clear eyed" that the Islamic State extremist group, often known as ISIS, "will try to take advantage of any vacuum to reestablish" itself in Syria. "We will not let that happen," he said, adding that on Sunday alone, US forces had conducted strikes against ISIS inside Syria. The US military said the strikes were conducted by warplanes against Islamic State operatives and camps. Strikes were carried out against "over 75 targets using multiple US Air Force assets, including B-52s, F-15s, and A-10s," the US Central Command said on social media. Earlier, Biden met with his national security team at the White House to discuss the crisis. Assad's reported departure comes less than two weeks after the Islamist Hayat Tahrir al-Sham (HTS) group challenged more than five decades of Assad family rule with a lightning rebel offensive that broke long-frozen frontlines in Syria's civil war. They announced Sunday they had taken the capital Damascus and that Assad had fled, prompting celebrations nationwide and a ransacking of Assad's luxurious home. A Kremlin source told Russian news agencies that the deposed leader was now in Moscow, along with his family. The US military has around 900 troops in Syria and 2,500 in Iraq as part of the international coalition established in 2014 to help combat the Islamic State jihadist group. It has regularly struck targets in the country including those linked to Iranian-backed militias. Tehran was a major backer of Assad's government. Biden also confirmed US authorities believe the American journalist Austin Tice, who was abducted in Syria in 2012, still lives. "We believe he's alive," Biden said, but the US has yet "to identify where he is." bur-sms/mlmAsia Capital PLC denies claims of offer from MAC Holdings for Majority Stake
Since her divorce from in 2012, has taken a step back from discussing her personal life with the public, keeping a lower profile than when she was married to the actor. But it seems that the star hit a breaking point, taking to social media to address a rumor surrounding her ex-husband and their daughter, 18-year-old . Javascript is required for you to be able to read premium content. Thanks for the feedback.
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Shares of Marvell Technology ( MRVL 23.19% ) surged 23.2% on Wednesday following the data infrastructure semiconductor specialist's release on the prior afternoon of its report for the third quarter of its fiscal year 2025 (ended Nov. 2, 2024). Investors' positive reaction can be attributed to the quarter's revenue and earnings beating Wall Street's consensus estimates, and fourth-quarter guidance for both the top and bottom lines speeding by analysts' expectations. Powerful demand for artificial intelligence (AI) capabilities was the driver of Marvell's quarterly growth and better-than-expected guidance. Marvell Technology's key numbers Metric Fiscal Q3 2024 Fiscal Q3 2025 Change YOY Revenue $1.42 billion $1.52 billion 7% GAAP operating income ($146.3 million) ($702.8 million) Loss widened 380% GAAP net income ($164.3 million) ($676.3 million) Loss widened 312% Adjusted net income $354.1 million $ 373 .0 million 5% GAAP earnings per share (EPS) ($0.19) ($0.78) Loss widened 311% Adjusted EPS $0.41 $0.43 5% Data source: Marvell Technology. YOY = year over year. GAAP = generally accepted accounting principles. Fiscal Q3 2025 ended Nov. 2, 2024. Investors should focus mainly on the adjusted numbers, which exclude one-time items. Adjusted net income excludes $715.1 million in restructuring charges, $264.9 in amortization of acquired intangible assets, $158.4 million in stock-based compensation, and a few other smaller positive and negative items. Wall Street was looking for adjusted EPS of $0.40 on revenue of $1.45 billion, so Marvell surpassed both expectations. In the quarter, Marvell generated cash of $536.3 million running its operations, up 7% from the year-ago period. The company ended the quarter with cash and equivalents of $868.1 million, up 7% from the prior quarter, and long-term debt of $3.97 billion on its balance sheet. Performance by end market End Market Fiscal Q3 2025 Revenue Change YOY Data center $1.10 billion 98% Enterprise networking $150.9 million (44%) Carrier infrastructure $84.7 million (73%) Consumer $96.5 million (43%) Automotive/industrial $82.9 million (22%) Total $1.52 billion 7% Data source: Marvell Technology. YOY = year over year. The data center end market's phenomenal growth of 98% year over year was driven by strong demand for the company's AI -related products. These mainly include its custom AI chips -- which are application-specific integrated circuits (ASICs) -- and interconnect products for AI-enabled data centers. In fiscal Q3, the data center end market accounted for a whopping 72% of Marvell's total revenue. This is up from just 39% in the year-ago quarter, clearly showing how the company's business profile has changed considerably in just one year. The other four end markets continued to struggle on a year-over-year basis, dragging down the company's overall results. This is a semiconductor industrywide phenomenon, not specific to Marvell. What the CEO had to say In the earnings release, CEO Matt Murphy commented on the quarter's results and the outlook for Q4: Moreover, in addition to expecting a "strong finish to this fiscal year," Murphy said management projects the "substantial momentum to continue in fiscal 2026." Guidance For the fiscal Q4 (which ends in late January/early February 2025), management expects: Revenue of $1.80 billion, which equates to growth of 26% year over year. Adjusted EPS of between $0.54 and $0.64, which equates to growth of 17% to 39% (28% at the midpoint). Going into the release, Wall Street had been expecting fiscal Q4 adjusted EPS of $0.52 on revenue of $1.65 billion, so Marvell's outlook sprinted by both expectations. Management sees accelerating growth on the horizon Marvell's overall fiscal Q3 results were just so-so with year-over-year revenue and adjusted EPS only increasing a modest 7% and 5%, respectively. But its fiscal Q4 guidance looks great, with expected revenue growth of 26% year over year and adjusted EPS growth of 17% to 39%. This robust outlook reflects management's confidence that strength in its AI-powered data center end market will continue and that demand in some of its other markets will improve.
WESTERN BUREAU: A slow start did not dictate Dr Aubrey Stewart’s journey. Hailing from the inner-city community of Albion Lane in Montego Bay, St James, he struggled through poverty and gun violence. Among the atrocities he faced was seeing his family’s home being firebombed and shot at during gang violence in 2007, resulting in his mother and grandmother being injured. Stewart, who then regarded himself as “a slow learner” due to his academic struggles while attending Cornwall College, which was a stone’s throw from his home, was nonetheless ambitious and hungry to succeed. Now, his aspirations and tenacity have paid off despite the struggles. Stewart, who is now 31, and who was a Fulbright Scholarship recipient, recently completed a PhD in public policy, specialising in crime policy evaluation and program design, at Florida International University (FIU). In a recent interview with The Gleaner , Stewart reminisced on his academic journey from Cornwall College to FIU. While explaining that he was never a high achiever during high school, Stewart stated that joining the cadets helped to develop his sense of discipline, which brought him to obtain three university degrees. But, before heading off to university, Stewart had to tackle the hurdles of completing high school. ‘Cadet made me more disciplined’ “I was one of the first persons in my area to attend Cornwall College and then, after that, it was like a ripple effect. Other young boys were getting the opportunity to attend Cornwall. I was not necessarily a high achiever there. I was in cadet and did a lot of community service, so I would say that my high school journey started very slow, but cadet made me a lot more disciplined and I started focusing on school. I realised that my grades started getting a little bit better,” Stewart said. Though his Caribbean Examination Council (CXC) grades weren’t impressive, Stewart worked hard to land a place at The University of West Indies Western Jamaica Campus (WJC), where he blossomed while pursuing a bachelor’s degree in political leadership, strategy and management. “I never got all the ones that my classmates were getting. Mi get the one, two, three, four and five. I couldn’t afford to attend sixth form at Cornwall. Some persons were giving scholarships and because of my discipline and community service they decided to award me with sponsorship so I could attend sixth form,” Stewart said. “I went to UWI WJC and my grades started getting better. I was campus chairman ... and I realised that I actually could do this. The ones and fives I used to get in high school didn’t matter anymore.” While pursuing his undergraduate studies, Stewart was involved in several community-based initiatives. He maintained a strong relationship with his community and further honed his skills. He pursued a master’s degree in comparative politics and political theory through a partnership with UWI and the University of Cambridge. He later worked as a data scientist and research fellow in the Ministry of National Security and the Office of the Prime Minister in Jamaica before receiving the Fulbright Scholarship in 2021. During his doctoral studies, Stewart maintained a 4.0 grade point average and was inducted into the Phi Kappa Phi honour society, the oldest academic society in the United States (US). He is now proud of the strides he has made. “I started pretty slow because I didn’t have an academic support system. I think I was pretty slow because, in grade nine, I would shy away from just reading in class. I didn’t want to read because the boys would laugh at me. It was just a journey but I am proud and grateful. I would not change anything about my growing up. It was pretty hard but I would not change it. There are many young people in inner-city communities, just like Albion Lane, and they are slow but that is not it for them. Sometimes it just takes one opportunity to open many more gates.” Stewart further stated that his family is elated by his achievements. “They are extremely happy for me. Maybe not all of my family members understand what a PhD means or what it entails, but they are proud,” he said. In the meantime, Stewart has since returned home with an important mission ahead. He told The Gleaner that he refused an opportunity to become a professor in the US due to his love and dedication to Jamaica. “I got an opportunity in the US to be a professor but decided to turn down the opportunity and come to Jamaica ... to serve my country [as a] consultant working on national security projects.” With the knowledge gained over the years, Stewart is aiming to make an impact in the country’s national security ministry. His PhD dissertation focused heavily on crime prevention policies implemented in Caribbean countries and ways to improve on those initiatives. “What I have been doing in my dissertation studies is to create tailored crime prevention policies and initiatives that this government and Caribbean governments can use to enhance their security apparatus. I have evaluated all the different types of policies that Jamaica, Trinidad and Tobago have implemented, and also policies in other Latin American countries to see how effective they have been. That’s the type of work that I have been doing and I’ll be putting some of that in place in Jamaica,” he said. rochelle.clayton@gleanerjm.com
We are well-positioned to grow via key market opportunities at the forefront of global healthcare, including the incoming U.S. administration's aim to "Make America Healthy Again" by tackling chronic disease. Commercial and Community Care-Delivery: Continued expansion with market-leading employer, provider and payvider innovation partners Growth of GLP-1s: Engagement expertise provides unique ability to facilitate sustainable health outcomes and demonstrable ROI to GLP-1 sponsors Rise of Health AI: Unique data sets and capabilities will enrich and accelerate progress of next-gen clinical discovery platforms TORONTO , Nov. 27, 2024 /PRNewswire/ - Newtopia Inc. (" Newtopia " or the " Company ") NEWU NEWUF , a tech-enabled whole health platform creating sustainable habits that prevent, slow and reverse chronic disease, today announced its third quarter 2024 financial results, operational highlights and filing of its financial statements. These results pertain to the three months ended September 30, 2024 . All amounts are expressed in Canadian dollars, unless otherwise noted. Third Quarter 2024 Financial Highlights: Revenue of $1.0 million Opex reduction of 16% New partnership with US supplemental payvider positions Newtopia for profitability in 2025 "As we have for eleven years, Newtopia continues to prove our unique ability to produce industry-leading patient engagement and to cultivate healthy habits that can prevent, slow and reverse chronic metabolic disease", said Jeff Ruby , Newtopia Founder and CEO. "Most recently, we reported nine-month outcomes from our ongoing trial with Arkansas -based Heartland Whole Health Institute, in which we delivered Newtopia's best-ever engagement rates and weight loss outcomes in both provider and employer environments." "This quarter we also further strengthened our underlying operations, and evolved our offerings to respond to emerging industry opportunities and value-based needs, including the incoming US administration's desire to 'Make America Healthy Again' by tackling chronic disease – something we do better than anyone else in the market", continued Ruby. "Building on the strength of this progress we continue to pursue three significant opportunities to accelerate Newtopia growth in the final quarter of the year and into 2025: (1) expanding our key innovation partnerships with providers, employers and provincial payers, including a new relationship with a US Supplemental Payvider covering millions of employee lives; (2) combining Newtopia's proven habit change platform with GLP-1 drugs for obesity and type 2 diabetes; and (3) partnering with health AI and clinical discovery innovators to improve our collective ability to deliver best in breed outcomes that prevent, reverse and slow chronic disease", Ruby concluded. Third Quarter 2024 Financial Results Revenue for the three months ended September 30, 2024 was $1.0 million compared to $2.4 million in the prior-year period. This decrease is driven by the loss of a client effective June 2024 , in addition to a structural incentive change with an existing client which the Company is actively working to offset. Gross profit for the third quarter was $0.3 million , or 34% of revenue. Gross profit consists of revenue less direct expenses, including the cost of Welcome Kits and labor costs associated with the Company's frontline health coaching team. Adjusted operating expenses for the three months ended September 30, 2024 , totaled $1.3 million , compared to $1.6 million in the prior-year period. The Company posted an adjusted operating loss of $987 thousand , compared to a gain of $21 thousand in the prior-year period. Given the new partnership with a US payvider, Newtopia anticipates returning to profitable growth in the near future. Conference Call The Company will host a conference call November 27 at 5 p.m. eastern time to discuss the third quarter 2024 results in further detail. To access the conference call, please dial (800) 717-1738 (U.S.) or (646) 307-1865 (International) 10 minutes prior to the start time and reference Conference ID number 15026. The call will also be available via live webcast on the investor relations portion of the Company's website located at investor.newtopia.com . A replay of the conference call will be available through December 18, 2024 , which can be accessed by dialing (844) 512-2921 (U.S.) or (412) 317-6671 (International) and entering the passcode 11157569. The webcast will also be archived on the Company's website. About Newtopia Newtopia is a personalized whole health platform helping people create positive lifelong habits that prevent, slow, or reverse chronic disease while reducing healthcare costs. The platform leverages genetic, social and behavioral insights to create individualized prevention programs with a focus on metabolic disease, diabetes, mental health challenges, hypertension, weight management and musculoskeletal disorders. With a person-centered approach that combines virtual care, digital tools, connected devices and actionable data science, Newtopia delivers sustainable clinical and financial outcomes. Newtopia serves some of the largest nationwide employers and health plans and is currently listed in Canada on the Toronto Stock Exchange NEWU and is quoted in the US on the OTCQB ® Venture Market NEWUF . To learn more, visit newtopia.com , LinkedIn or X . Forward Looking Statements This news release contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, and forward looking statements, within the meaning of applicable United States securities legislation (collectively, "forward-looking statements"), which reflects management's expectations regarding Newtopia's future growth, results from operations (including, without limitation, future production and capital expenditures), performance (both operational and financial) and business prospects and opportunities. Wherever possible, words such as "predicts", "projects", "targets", "plans", "expects", "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. All statements other than statements of historical fact may be forward- looking information. Such statements reflect Newtopia's current views and intentions with respect to future events, based on information available to Newtopia, and are subject to certain risks, uncertainties, and assumptions. Material factors or assumptions were applied in providing forward-looking information. While forward-looking statements are based on data, assumptions and analyses that Newtopia believes are reasonable under the circumstances, whether actual results, performance or developments will meet Newtopia's expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of Newtopia to differ materially from its expectations. Forward-looking statements are not a guarantee and are based on a number of estimates and assumptions management believes to be relevant and reasonable, whether actual results, performance or developments will meet Newtopia's expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of Newtopia to differ materially from its expectations. Certain of the "risk factors" that could cause actual results to differ materially from Newtopia's forward-looking statements in this press release include, without limitation: the termination of contracts by clients, risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters- in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and other general economic, market and business conditions and factors, including the risk factors discussed or referred to in Newtopia's disclosure documents, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca including Newtopia's final long form prospectus dated March 30, 2020 . For more information on these risks please see the "Risk Factors" in Newtopia's final long-form prospectus dated March 30, 2020 . Should any factor affect Newtopia in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Newtopia does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this news release is made as of the date of this news release, and Newtopia undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Key Financial Measures and Schedule of Non-GAAP Reconciliations Unaudited Gross Profit Information- including amortization Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 $ $ $ $ Revenue 986,116 2,434,606 4,369,086 7,440,297 Cost of revenue (651,969) (1,040,988) (2,359,758) (3,501,663) Gross profit 334,147 1,393,618 2,009,328 3,938,634 Gross profit margin 34 % 57 % 46 % 53 % Reconciliation of Total Operating Expenses to Adjusted Operating Expenses Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 $ $ $ $ Total expenses 1,978,493 2,164,039 6,038,822 7,313,195 Add (Subtract) Share-based compensation (54,851) (158,584) (195,941) (466,887) Depreciation of property and equipment (483) (1,386) (1,953) (4,965) Debenture interest and accretion expense (300,997) (246,556) (844,321) (593,979) Interest on promissory note (2,000) - (2,000) - Interest on lease obligations - (5,221) - (26,784) Finance charges (256,482) (145,024) (496,171) (376,990) Amortization of deferred finance charges (44,984) (39,710) (130,884) (107,500) Foreign exchange gain (loss) 2,094 17,302 32,843 (36,791) (Loss) Gain on settlement of related party payable - 3,111 (9,797) 10,314 Adjusted operating expenses 1,320,790 1,579,015 4,390,598 5,700,657 Unaudited Adjusted Operating Loss Three Months Ended Sep 30, Nine Months Ended Sep 30, 2024 2023 2024 2023 $ $ $ $ Gross profit 334,147 1,393,618 2,009,328 3,938,634 Add back amortization of intangible asset - 206,509 - 619,537 Adjusted gross profit 334,147 1,600,127 2,009,328 4,558,171 Adjusted operating expenses (1,320,790) (1,579,015) (4,390,598) (5,700,657) Adjusted operating loss (986,643) 21,112 (2,381,270) (1,142,486) Newtopia Inc. Condensed Interim Consolidated Statements of Financial Position (Unaudited) As at September 30, 2024 and December 31, 2023 (Expressed in Canadian Dollars) September 30, December 31, 2024 2023 $ $ Assets Current assets Cash 10,200 387,339 Trade and other receivables 381,061 1,400,959 Contract assets - 259,072 Prepaid expenses and deposits 137,226 101,043 Inventories 91,654 115,232 Deferred costs 41,979 64,583 662,120 2,328,228 Property and equipment 2,712 4,665 664,832 2,332,893 Liabilities Current liabilities Trade and other payables 2,415,716 1,825,356 Credit facility 4,865,674 4,767,006 Promissory note 200,000 - Contract Liability 48,746 - Deferred revenue - 48,185 Debentures 5,735,672 3,723,530 13,265,808 10,364,077 Debentures - 1,387,476 13,265,808 11,751,553 Shareholders' Equity (Deficit) Common shares 49,754,858 49,404,596 Contributed surplus 14,648,104 14,151,188 Deficit (77,003,938) (72,974,444) (12,600,976) (9,418,660) 664,832 2,332,893 Newtopia Inc. Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Unaudited) Three Months Ended September 30, 2024 (Expressed in Canadian Dollars) 2024 2023 $ $ Revenue 986,116 2,434,606 Cost revenue 651,969 1,040,988 Gross profit 334,147 1,393,618 Operating expenses Technology and development 366,732 446,504 Sales and marketing 163,261 317,544 General and administrative 790,797 814,967 Share-based compensation 54,851 158,584 Depreciation of property and equipment 483 1,386 1,376,124 1,738,985 Other expenses (income) Interest on lease obligations - 5,221 Debenture interest and accretion expense 300,997 246,556 Interest on promissory note 2,000 - Finance charges 256,482 145,024 Foreign exchange (gain) loss (2,094) (17,302) (Gain) Loss on settlement of related party payable - (3,111) Amortization of deferred finance charges 44,984 39,710 602,369 425,054 Net loss and comprehensive loss (1,644,346) (770,421) Loss per share Basic and diluted loss per share (0.01) (0.01) Weighted average number of shares outstanding Basic and diluted 173,265,303 153,829,313 Newtopia Inc. Condensed Interim Statements of Cash Flows (Unaudited) Nine Months Ended September 30, 2024 (Expressed in Canadian Dollars) 2024 2023 $ $ Cash flows used in operating activities Net loss and comprehensive loss (4,029,494) (3,374,561) Items not involving cash Depreciation of property and equipment 1,953 4,965 Amortization of intangible asset - 619,537 Amortization of deferred finance charge 130,884 107,500 Debenture interest and accretion expense 624,661 353,530 Interest on promissory note 2,000 - Interest on lease obligations - 26,784 Debt modification - 8,956 Credit facility interest 130,466 - Share-based compensation 195,941 466,887 (Gain) Loss on settlement of related party payable 9,797 (10,314) (2,933,792) (1,796,716) Change in non-cash working capital Trade and other receivables 1,019,898 (216,987) Prepaid expenses and deposits (36,183) (33,712) Inventories 23,578 208,151 Trade and other payables 442,895 (502,016) Deferred revenue (48,185) - Contract asset/liability 307,818 174,670 (1,223,971) (2,166,610) Cash flows used in investing activities Purchase of property and equipment - (2,548) - (2,548) Cash flows from financing activities Credit facility withdrawals (3,726,407) 4,706,984 Credit facility repayments 3,825,080 (5,167,679) Credit facility financing costs (93,280) (117,260) Promissory note 200,000 - Repayment of lease obligation - (464,998) Proceeds from private placement issuance of Units, net of costs 641,440 1,467,295 Proceeds from issuance of debenture units, net of costs - 1,746,201 Repayment of debentures - (30,000) proceeds from exercise of warrants - 258,299 846,833 2,398,842 (Decrease) Increase in cash (377,139) 229,684 Cash, beginning of period 387,339 345,950 Cash, end of period 10,200 575,634 View original content to download multimedia: https://www.prnewswire.com/news-releases/newtopia-reports-third-quarter-2024-financial-results-302317816.html SOURCE Newtopia Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.JPMORGAN is to sponsor the most prestigious part of English football club Arsenal FC’s Emirates Stadium in London, according to sources familiar with the matter. The US banking giant becomes the first sponsor of Arsenal’s Diamond Club, a lounge that hosts wealthy fans who pay tens of thousands of pounds a season to watch the team, known as the Gunners, in luxury surroundings. JPMorgan’s branding will be visible during tonight’s match between Arsenal and Manchester United FC, the sources said, asking not to be identified discussing confidential information. The Diamond Club, nestled above the half-way line to provide the best view of the pitch, comes with heated seats and blankets to help fans cope with the English winter. It is named after deceased director Danny Fiszman, a diamond dealer who was instrumental to the construction of the Emirates Stadium, and features the gold Premier League trophy awarded to former manager Arsene Wenger after his team went a whole season unbeaten in 2003 to 2004. The sponsorship deal was reported earlier in a social media post by an Arsenal fan blog. Representatives for Arsenal and JPMorgan declined to comment. Arsenal moved into the Emirates Stadium in 2006. The ground has a capacity of around 60,700, slightly smaller than the new stadium built by north London rivals Tottenham Hotspur FC. Arsenal’s American billionaire owner Stan Kroenke could reportedly try to expand the Emirates Stadium to once again boast the biggest club arena in London. BLOOMBERGLouisiana State Employees Retirement System decreased its holdings in shares of Amazon.com, Inc. ( NASDAQ:AMZN – Free Report ) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 835,900 shares of the e-commerce giant’s stock after selling 2,300 shares during the quarter. Amazon.com comprises about 2.9% of Louisiana State Employees Retirement System’s portfolio, making the stock its 4th biggest holding. Louisiana State Employees Retirement System’s holdings in Amazon.com were worth $155,753,000 at the end of the most recent quarter. Other large investors have also modified their holdings of the company. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter valued at about $45,000. Christopher J. Hasenberg Inc grew its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock. Wall Street Analysts Forecast Growth AMZN has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Maxim Group increased their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.20. Amazon.com Stock Up 1.0 % Shares of NASDAQ:AMZN opened at $207.89 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $142.81 and a 1 year high of $215.90. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 44.52, a PEG ratio of 1.38 and a beta of 1.14. The stock has a 50-day simple moving average of $194.78 and a 200-day simple moving average of $186.94. Amazon.com ( NASDAQ:AMZN – Get Free Report ) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year. Insider Buying and Selling at Amazon.com In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website . Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here . Insiders sold 6,026,683 shares of company stock valued at $1,252,148,795 over the last 90 days. 10.80% of the stock is owned by corporate insiders. Amazon.com Company Profile ( Free Report ) Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content. Further Reading Five stocks we like better than Amazon.com How to Invest in Insurance Companies: A Guide The Latest 13F Filings Are In: See Where Big Money Is Flowing How to Use the MarketBeat Excel Dividend Calculator 3 Penny Stocks Ready to Break Out in 2025 3 Tickers Leading a Meme Stock Revival FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter .
Vibrant urban neighbourhoods, a bustling new food hall, and a £40m skills training centre were among the new additions to Bolton in a year that saw the borough’s regeneration come to life. After years of planning, preparation and investment, 2024 marked the first time that residents and visitors could see, feel and experience the benefits of redevelopment. Not only was this the year that major projects were completed, but a number of exciting plans were also confirmed for 2025 and beyond. The year started with the official reopening of Bolton Central Library in January, following a £4.43m renovation to provide an expanded children’s area, improved social spaces, updated digital facilities and the brand-new Café Crescent. Bolton Council Leader Cllr Nick Peel and Deputy Leader Cllr Akhtar Zaman visit the newly opened homes at the Moor Lane development (Image: Bolton Council) Time kept ticking on, and in February the council intervened to repair and restore the clock tower at Bolton Train Station. While regeneration and new developments are vital, the move was said to have underscored a commitment to protecting and enhancing the borough’s many great heritage assets. Cllr Hamid Khurram, Cabinet Member responsible for Transport, with the newly restored train station clock tower (Image: Bolton Council) Elsewhere in the borough, the council is working with Heritage England, investors and other partners to bring historic buildings like Hall i’ th’ Wood, Number 1 Newport Street, and Rock Hall back into public use. In March, then Mayor of Bolton Cllr Mohammed Ayub cut the ribbon at Elizabeth Park, the town centre’s first new green space in over a century. Featuring a central lawn, broad flower beds, a rain garden, generous seating and a public performance space, the park would go on to win “Project of the Year” at the regional Civil Engineering Contractors Association awards. Regeneration is happening right across the borough, with Farnworth among the district centres benefiting from significant investment. Farnworth has previously secured funding from the Future High Street Fund and the Greater Manchester Investment Fund. This had already seen the Leisure Centre being upgraded, new homes , shops, and a community hub at Farnworth Green, as well as streetscape improvements which started in April. In May, residents were consulted on a new long term plan for Farnworth which will see £20m invested in the town, spread over the next ten years with projects and priority areas decided by local people. Bolton Market Food Hall (Image: Paul Heyes) Regeneration goes far beyond just new buildings and major investment, but also means creating vibrant communities and building a sense of pride in where people live. Bolton has a well-deserved reputation for its performing arts, major events, and cultural scene and this plays a vital role in attracting people to live, work , visit, study and invest locally. Once again, Bolton took centre stage when it was declared this year’s Greater Manchester Town of Culture in May. Announcing his decision, the Mayor of Greater Manchester Andy Burnham said: "I'm confident that we'll see the very best of Bolton over the next 12 months and that people will come from far and wide to see what this brilliant town has to offer." During the summer, work to build the £40m first of its kind, Bolton Institute of Medical Sciences was also completed ahead of welcoming its first students for the new term. (Image: Adrian Greenhalgh) Subject to approval, the Institute will become a medical school (pictured above )with the first cohort of student doctors expected in September 2025. June was a big month for food lovers as the traders at the Bolton Market Food Hall opened for businesses, just in time for live screenings of UEFA European Football Championship. Part of the wider £5.9m market transformation, the hall offers cuisine from around the world and has proved a massive hit with customers. Bolton Market offers fresh, locally sourced produce at reasonable prices, making it the ideal shopping destination for the many new residents who are expected to move to the town centre as part of the regeneration masterplan. This took a major step forward in July when local developers Watson secured land at Church Wharf to deliver a £75m project to include a hotel and 400 new homes. Watson continued to invest in the community as headline sponsors of August’s Bolton Food and Drink Festival. READ MORE: Multi-million pound development of Bolton Library Bolton's Primark store's opening day sees 500 shoppers queue The highlight of the annual event calendar, the festival showcases the very best of Bolton to a national and international audience. Food and Drink Festival (Image: Paul Heyes) After Storm Lilian put the event in doubt, council staff, local businesses and volunteers worked through the night to ensure the festival could go ahead. Major events are a key part of Bolton’s Visitor Economy Strategy, a plan to drive footfall, enhance the quality of life of residents and boost the economy. Off the back of the strategy, Bolton was chosen in September as a pilot area for the Greater Manchester Visitor Economy Accelerator Programme. The aim of the programme is to foster growth and increase collaboration within the tourism and hospitality sectors through masterclasses, workshops and one-to-one support. Wellsprings Innovation Hub (Image: Bolton Council) September also gave residents their first look at the Wellsprings Innovation Hub backed by £6.9m from the Towns Fund and a further £1.4m from the UK Shared Prosperity Fund. Since then, entrepreneurs and business start-ups from the creative and technology sectors have been applying for office spaces at the facility which opens in early 2025. The Wellsprings offers co-working space and meeting rooms, call pods, bike storage and kitchen facilities. October brought one of the year’s most significant announcements with news that the demolition of Crompton Place is due to start in 2025 with work already underway to appoint a developer for the site. Bolton Council Leader, Cllr Nick Peel, said: “The redevelopment of Crompton Place is a once in a generation opportunity to replace and reimagine an underused and unappealing building with something everyone in Bolton can be proud of. “It also gives us the opportunity to enhance Victoria Square and open up a direct link to Bradshawgate, with various buildings and open spaces on the site, rather than the single large building we have at present. “This will be our flagship redevelopment project, signalling to the private sector that Bolton Council is serious about regeneration and thereby attracting even more commercial investment.” The announcement followed years of work by Bolton Council to support existing tenants to relocate to other areas of the town centre, as part of a plan to consolidate a quality retail offer around the Market Place. This culminated in November with the grand opening of the shopping centre’s new Primark. Store Manager, Caroline Wood, said: “We’ve been in the heart of Bolton now for 48 years so this is an important move for us, and we’ve been overwhelmed by the positive response already from shoppers who’ve joined us today.” In December, attention turned to the enormous potential of some of the town centre’s other buildings. During a business event, property owners and potential investors were given advice and information about converting existing buildings for residential use in the centre. This followed a similar successful event focused on the hospitality sector, and a planned event in February focusing on buildings with potential to be used as office space. The year ended with even more exciting news, as the first residents moved into their new homes at Moor Lane. Bolton at Home and Step Places have jointly developed the 214-home Neighbourhood Moor Lane development in partnership with Bolton Council. Deansgate Gardens (Image: Bolton Council) Developments like Moor Lane and the nearby Deansgate Gardens, among others, are expected to bring an additional 5,000 people to live in the town centre, creating vibrant urban neighbourhoods and supporting local businesses. Reflecting back on the year, Bolton Council’s Deputy Leader, Cllr Akhtar Zaman, said: “In January, I said that 2024 would be the year that Bolton residents would first see and feel the tangible benefits of regeneration. “As we come to the end of the year, we can already see the positive impact that projects like the new Food Hall and renovated library are having. “As Moor Lane and Deansgate Gardens welcome their first residents, this will boost the town centre economy and build market confidence to attract more inward investment. “Now is the time to build on this success and we look forward to more exciting announcements in 2025.”LPGA, USGA to require players to be assigned female at birth or transition before puberty
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Four decades after deadly Bhopal disaster, nightmare remains but no single culprit ever jailedBonus shares 2024: Shares of Kothari Products surged over 7 per cent in intra-day trade on Monday, December 30 following the board's approval to bonus share issue in the ratio of 1:1. This was the second straight day of gains for Kothari Products stock, with the scrip rallying 12 per cent during this period. In an exchange filing on Friday, December 27, Kothari Products informed that its Board of Directors, at its board meeting held today, recommended the issue of bonus shares in the ratio of 1:1, subject to the approval of the members through postal ballot. This means that every shareholder who owns one stock of the company as of the record date will receive another stock at no additional cost. However, the company has not yet announced the record date for the bonus share issue . The company's board also approved increasing the authorized share capital from Rs. 31,50,00,000 to ₹ 61,50,00,000, subject to the approval of the members through postal ballot. Stock Price Trend Following this development, Kothari Products share price surged as much as 7.37 per cent to the day's high of ₹ 209.70. The stock opened at ₹ 199.15 as against its previous close of ₹ 195.30. The stock hit its 52-week high of ₹ 227.35 last week, on December 26, while its 52-week low stands at ₹ 111.15, which it touched on March 13, 2024. So far this month, the stock has rallied 30 per cent, while it has rallied 50 per cent in the last six months. On a one-year basis, Kothari Products share price is up 61 per cent. Kothari Products, engaged in sectors such as real estate, investments and international trading of exports and imports, is a small-cap company with a market capitalisation of ₹ 600 crore. Kothari Products Bonus Shares History This is the third bonus share action by Kothari Products. The small-cap firm had first approved bonus shares in the ratio of 2:1 in March 2014. Meanwhile, it announced a second bonus share issue in 2016 in a 1:2 ratio, suggests data from Trendlyne. Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Published 12:00 am Monday, December 30, 2024 By Guest Columnist The death of cursive handwriting reared its ugly head during the recent presidential election. Since 2010, according to Yahoo News, many states have dropped cursive writing from their curricula as they shifted to Common Core State Standards for English. As a result, many Gen Z Americans lack a distinctive cursive signature, which posed a problem for Gen Z voters who used mail-in ballots last month. Since officials had great difficulty matching Gen Z mail-in-ballot signatures to the signatures the government had on file for them, many of their ballots were tossed. This problem has renewed interest in the cursive debate. As it goes, the origin of cursive dates back centuries. It was the result of technological innovations in writing — inkwells and quill pens made from goose feathers. Since the ink dripped when you lifted the quill from the paper, it made sense to connect letters and words together in one flowing line — and cursive writing was born. My mother and father were taught to master cursive in the 1940s. Both mastered incredibly elegant handwriting. I grew up in the 1970s, the era of Bic ballpoint pens. Such pens didn’t leak and, technically, didn’t re quire cursive writing. But the good nuns of St. Germaine Catholic School made us master it anyway. They’d be horrified to see the chicken scratch I write now, though I have an excuse. I am a product of the electronic era. I do all my writing on a computer. I’ve become very fast at keying-in my thoughts. When I write by hand, though, I am so agitated by the slowness, I rush it along. My dad joked that I should have been a doctor! In any event, with such modern technological innovations, some argue that cursive is no longer needed and is also costly and time-consuming to teach. Curses to that, say others. More than a decade ago, Katie Zezima argued in The New York Times that if people are not taught cursive, they’ll be more at risk of forgery; printing in block letters is much easier to replicate. And the development of fine motor skills will be thwarted, she added. Besides, she asked, how will people unfamiliar with cursive read important documents, such as the Declaration of Independence and the U.S. Constitution? To be sure, it has become such a growing problem that the government is spending taxpayer money to transcribe historical cursive documents, so that Gen Z can read them. I’m certainly a proponent of moving forward with innovation. I’m able to run a communications and video-production business from anywhere on Earth without any need for cursive handwriting. Then again, I wonder that in our eagerness to advance, we tossed out the baby with the bath water. The mail-in-ballot issue certainly should make us see the need for distinct cursive signatures, but there’s a human element to keeping cursive, too. One of my most prized possessions is a letter written by my father’s father in 1924 consoling a woman whose mother had just died. He wrote the letter when he was 21. I was given the letter in 1997 by the son of the woman my grandfather wrote the letter to. I was struck by how similar my grandfather’s writing style was to my father’s — how similar his writing style was to mine — and I was moved by the beauty and artfulness of his signature. I can’t imagine a world in which letters written in cursive are no longer left behind for future generations to cherish. See Tom Purcell’s syndicated column, humor books and funny videos featuring his dog, Thurber, at TomPurcell.com. Email him at Tom@TomPurcell.com.BREAKING: Northern California elementary school shooting leaves suspect dead, sheriff reportsIt looked like a recipe for disaster. So, when his country's swimmers were being accused of doping earlier this year, one Chinese official cooked up something fast. He blamed it on contaminated noodles. In fact, he argued, it could have been a culinary conspiracy concocted by criminals, whose actions led to the cooking wine used to prepare the noodles being laced with a banned heart drug that found its way into an athlete's system. This theory was spelled out to international anti-doping officials during a meeting and, after weeks of wrangling, finally made it into the thousands of pages of data handed over to the lawyer who investigated the case involving 23 Chinese swimmers who had tested positive for that same drug. The attorney, appointed by the World Anti-Doping Agency, refused to consider that scenario as he sifted through the evidence. In spelling out his reasoning, lawyer Eric Cottier paid heed to the half-baked nature of the theory. People are also reading... "The Investigator considers this scenario, which he has described in the conditional tense, to be possible, no less, no more," Cottier wrote. Even without the contaminated-noodles theory, Cottier found problems with the way WADA and the Chinese handled the case but ultimately determined WADA had acted reasonably in not appealing China's conclusion that its athletes had been inadvertently contaminated. Critics of the way the China case was handled can't help but wonder if a wider exploration of the noodle theory, details of which were discovered by The Associated Press via notes and emails from after the meeting where it was delivered, might have lent a different flavor to Cottier's conclusions. "There are more story twists to the ways the Chinese explain the TMZ case than a James Bond movie," said Rob Koehler, the director general of the advocacy group Global Athlete. "And all of it is complete fiction." Something in the kitchen was contaminated In April, reporting from the New York Times and the German broadcaster ARD revealed that the 23 Chinese swimmers had tested positive for the banned heart medication trimetazidine, also known as TMZ. China's anti-doping agency determined the athletes had been contaminated, and so, did not sanction them. WADA accepted that explanation, did not press the case further, and China was never made to deliver a public notice about the "no-fault findings," as is often seen in similar cases. The stock explanation for the contamination was that traces of TMZ were found in the kitchen of a hotel where the swimmers were staying. In his 58-page report, Cottier relayed some suspicions about the feasibility of that chain of events — noting that WADA's chief scientist "saw no other solution than to accept it, even if he continued to have doubts about the reality of contamination as described by the Chinese authorities." But without evidence to support pursuing the case, and with the chance of winning an appeal at almost nil, Cottier determined WADA's "decision not to appeal appears indisputably reasonable." But how did the drugs get into the kitchen? A mystery remained: How did those traces of TMZ get into the kitchen? Shortly after the doping positives were revealed, the Institute of National Anti-Doping Organizations held a meeting on April 30 where it heard from the leader of China's agency, Li Zhiquan. Li's presentation was mostly filled with the same talking points that have been delivered throughout the saga — that the positive tests resulted from contamination from the kitchen. But he expanded on one way the kitchen might have become contaminated, harkening to another case in China involving a low-level TMZ positive. A pharmaceutical factory, he explained, had used industrial alcohol in the distillation process for producing TMZ. The industrial alcohol laced with the drug "then entered the market through illegal channels," he said. The alcohol "was re-used by the perpetrators to process and produce cooking wine, which is an important seasoning used locally to make beef noodles," Li said. "The contaminated beef noodles were consumed by that athlete, resulting in an extremely low concentration of TMZ in the positive sample. "The wrongdoers involved have been brought to justice." New information sent to WADA ... eventually This new information raised eyebrows among the anti-doping leaders listening to Li's report. So much so that over the next month, several emails ensued to make sure the details about the noodles and wine made their way to WADA lawyers, who could then pass it onto Cottier. Eventually, Li did pass on the information to WADA general counsel Ross Wenzel and, just to be sure, one of the anti-doping leaders forwarded it, as well, according to the emails seen by the AP. All this came with Li's request that the noodles story be kept confidential. Turns out, it made it into Cottier's report, though he took the information with a grain of salt. "Indeed, giving it more attention would have required it to be documented, then scientifically verified and validated," he wrote. Neither Wenzel nor officials at the Chinese anti-doping agency returned messages from AP asking about the noodles conspiracy and the other athlete who Li suggested had been contaminated by them. Meanwhile, 11 of the swimmers who originally tested positive competed at the Paris Games earlier this year in a meet held under the cloud of the Chinese doping case. Though WADA considers the case closed, Koehler and others point to situations like this as one of many reasons that an investigation by someone other than Cottier, who was hired by WADA, is still needed. "It gives the appearance that people are just making things up as they go along on this, and hoping the story just goes away," Koehler said. "Which clearly it has not." Be the first to know Get local news delivered to your inbox!
Shopping on Temu can feel like playing an arcade game. Instead of using a joystick-controlled claw to grab a toy, visitors to the online marketplace maneuver their computer mouses or cellphone screens to browse colorful gadgets, accessories and trinkets with prices that look too good to refuse. A pop-up spinning wheel offers the chance to win a coupon. Rotating captions warn that a less than $2 camouflage print balaclava and a $1.23 skeleton hand back scratcher are “Almost sold out.” A flame symbol indicates a $9.69 plush cat print hoodie is selling fast. A timed-down selection of discounted items adds to the sense of urgency. Pages from the Shein website, left, and from the Temu site, right. Welcome to the new online world of impulse buying, a place of guilty pleasures where the selection is vast, every day is Cyber Monday, and an instant dopamine hit is always just a click away. By all accounts, we’re living in an accelerating age for consumerism, one that Temu, which is owned by the Chinese e-commerce company PDD Holdings, and Shein, its fierce rival , supercharged with social media savvy and an interminable assortment of cheap goods, most shipped directly from merchants in China based on real-time demand. The business models of the two platforms, coupled with avalanches of digital or influencer advertising, have enabled them to give Western retailers a run for their money this holiday shopping season. A Christmas tree ornament purchased on Temu. Software company Salesforce said it expects roughly one in five online purchases in the U.S., the United Kingdom, Australia and Canada to be made through four online marketplaces based or founded in Asia: Shein, Temu, TikTok Shop — the e-commerce arm of video-sharing platform TikTok — and AliExpress. Analysts with Salesforce said they are expected to pull in roughly $160 billion in global sales outside of China. Most of the sales will go to Temu and Shein, a privately held company which is thought to lead the worldwide fast fashion market in revenue. Lisa Xiaoli Neville, a nonprofit manager who lives in Los Angeles, is sold on Shein. The bedroom of her home is stocked with jeans, shoes, press-on nails and other items from the ultra-fast fashion retailer, all of which she amassed after getting on the platform to buy a $2 pair of earrings she saw in a Facebook ad. Neville, 46, estimates she spends at least $75 a month on products from Shein. A $2 eggshell opener, a portable apple peeler and an apple corer, both costing less than $5, are among the quirky, single-use kitchen tools taking up drawer space. She acknowledges she doesn’t need them because she “doesn’t even cook like that.” Plus, she’s allergic to apples. “I won’t eat apples. It will kill me,” Neville said, laughing. “But I still want the coring thing.” Shein, now based in Singapore, uses some of the same web design features as Temu’s, such as pop-up coupons and ads, to persuade shoppers to keep clicking, but it appears a bit more restrained in its approach. Shein primarily targets young women through partnerships with social media influencers. Searching the company's name on video platforms turns up creators promoting Shein's Black Friday sales event and displaying the dozens of of trendy clothes and accessories they got for comparatively little money. But the Shein-focused content also includes videos of TikTokers saying they're embarrassed to admit they shopped there and critics lashing out at fans for not taking into account the environmental harms or potential labor abuses associated with products that are churned out and shipped worldwide at a speedy pace. Neville has already picked out holiday gifts for family and friends from the site. Most of the products in her online cart cost under $10, including graphic T-shirts she intends to buy for her son and jeans and loafers for her daughter. All told, she plans to spend about $200 on gifts, significantly less than $500 she used to shell out at other stores in prior years. “The visuals just make you want to spend more money,” she said, referring to the clothes on Shein's site. “They're very cheap and everything is just so cute.” Unlike Shein, Temu's appeal cuts across age groups and gender. The platform is the world’s second most-visited online shopping site, software company Similarweb reported in September. Customers go there looking for practical items like doormats and silly products like a whiskey flask shaped like a vintage cellphone from the 1990s. Temu advertised Black Friday bargains for some items at upwards of 70% off the recommended retail price. Making a purchase can quickly result in receiving dozens of emails offering free giveaways. The caveat: customers have to buy more products. Despite their rise, Temu and Shein have proven particularly ripe for pushback. Last year, a coalition of unnamed brands and organizations launched a campaign to oppose Shein in Washington. U.S. lawmakers also have raised the possibility that Temu is allowing goods made with forced labor to enter the country. More recently, the Biden administration put forward rules that would crack down on a trade rule known as the de minimis exception, which has allowed a lot of cheap products to come into the U.S. duty-free. President-elect Donald Trump is expected to slap high tariffs on goods from China, a move that would likely raise prices across the retail world. Both Shein and Temu have set up warehouses in the U.S. to speed up delivery times and help them better compete with Amazon, which is trying to erode their price advantage through a new storefront that also ships products directly from China. 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The Soo Greyhounds make a midweek trip to Saginaw for a Wednesday night game against the Spirit. Full updates will be available throughout the gameNEW YORK , Nov. 22, 2024 /PRNewswire/ -- On the year of their 125 th year Anniversary, The E-J Group continues to expand to meet their client's needs by strengthening their presence in the Northeast. E-J has acquired State Electric Corporation. State Electric, located in Bedford, Massachusetts , has been in business since 1988 and is one of the most respected and trusted full-service electrical contractors in New England. The depth of experience and expertise, particularly in healthcare, life science, commercial, sports & entertainment, transportation, power and renewable energy, transmission, distribution and substation work, will only enhance the services offered to our clients. The E-J Group looks forward to providing their clients with additional experience, expertise, and innovative solutions to this area of the Northeast for the reliable, fast-track project delivery they are accustomed to. "We are pleased to welcome State Electric to the E-J Family," says Anthony E. Mann , CEO of the E-J Group. "State's culture of safety first, innovative solutions align with E-J's and makes for an ideal new member of the organization." "All our divisions operate under the same philosophy, safety first while delivering the best quality workmanship, utilizing prefabrication and lean construction solutions. We share the same client focused approach of doing business," states Ronnie Koning , President of State Electric Corp. "Being part of the E-J Group provides more opportunities for our employees and strengthens what we offer to our clients." State Electric will retain its name and cultural identity, with its current leadership continuing in their respective roles. Ronnie Koning will remain as President, reporting to E-J's EVP, Dave Ferguson . Brendan Dickie will continue as COO, and Jane Wu will maintain her position as Controller. Their collective expertise will remain instrumental to the organization's ongoing success. E-J has thrived and survived the test of time by emerging into nearly a $1 billion national electrical company with great financial strength, national clients, project diversity, and a company culture that is founded on Safety First. E-J currently has 15 offices in 5 states across the country in New York , New Jersey , Connecticut , Rhode Island , Arizona , and now Massachusetts . About E-J: The E-J Group is active in all facets of electrical contracting - we are not your typical electrical contractor. We bring experience, expertise and a national reputation on projects that vary in size to over $300 million . Typical installations include rail systems, transit facilities, office buildings, hospitals, power, renewable and clean energy, co-generation facilities, roadway and outdoor specialty, airports, industrial facilities, universities, sport stadiums, extra high voltage distribution, utility, and gas infrastructure. At E-J, four family generations of practical expertise have created an organization keyed to the most modern technological advances in providing rapid and efficient solutions to today's lighting, power, energy, and communication needs. E-J has a 125-year reputation for unparalleled integrity, quality, and service in the electrical field. Please visit our website at www.ej1899.com to learn more about the company. About State Electric Corporation: State Electric Corporation is a leading full-service electrical contractor in the Northeast. Since 1988, State Electric has been a trusted partner of owner's construction managers, utilities, low voltage integrators, and other business partners around the region. While working in partnership with clients, State continually executes the most complex and high-profile electrical construction projects on time and on budget. Headquartered in Bedford, Massachusetts , with a satellite office in Braintree , State Electric is a signatory contractor to the IBEW. Contact: Katie Nilsen , VP Business Development & Strategy – E-J Group 917-807-9496 View original content to download multimedia: https://www.prnewswire.com/news-releases/the-e-j-group-welcomes-state-electric-corporation-to-the-organization-302314568.html SOURCE E-J Electric Installation Co.
NEW YORK (AP) — Brian Thompson led one of the biggest health insurers in the U.S. but was unknown to millions of people his decisions affected. Then Wednesday's targeted fatal shooting of the UnitedHealthcare CEO on a midtown Manhattan sidewalk thrust the executive and his business into the national spotlight. Thompson, who was 50, had worked at the giant UnitedHealth Group Inc for 20 years and run the insurance arm since 2021 after running its Medicare and retirement business. As CEO, Thompson led a firm that provides health coverage to more than 49 million Americans — more than the population of Spain. United is the largest provider of Medicare Advantage plans, the privately run versions of the U.S. government’s Medicare program for people age 65 and older. The company also sells individual insurance and administers health-insurance coverage for thousands of employers and state-and federally funded Medicaid programs. The business run by Thompson brought in $281 billion in revenue last year, making it the largest subsidiary of the Minnetonka, Minnesota-based UnitedHealth Group. His $10.2 million annual pay package, including salary, bonus and stock options awards, made him one of the company's highest-paid executives. The University of Iowa graduate began his career as a certified public accountant at PwC and had little name recognition beyond the health care industry. Even to investors who own its stock, the parent company's face belonged to CEO Andrew Witty, a knighted British triathlete who has testified before Congress. When Thompson did occasionally draw attention, it was because of his role in shaping the way Americans get health care. At an investor meeting last year, he outlined his company's shift to “value-based care,” paying doctors and other caregivers to keep patients healthy rather than focusing on treating them once sick. “Health care should be easier for people,” Thompson said at the time. “We are cognizant of the challenges. But navigating a future through value-based care unlocks a situation where the ... family doesn’t have to make the decisions on their own.” Thompson also drew attention in 2021 when the insurer, like its competitors, was widely criticized for a plan to start denying payment for what it deemed non-critical visits to hospital emergency rooms. “Patients are not medical experts and should not be expected to self-diagnose during what they believe is a medical emergency,” the chief executive of the American Hospital Association wrote in an open letter addressed to Thompson. “Threatening patients with a financial penalty for making the wrong decision could have a chilling effect on seeking emergency care.” United Healthcare responded by delaying rollout of the change. Thompson, who lived in a Minneapolis suburb and was the married father of two sons in high school, was set to speak at an investor meeting in a midtown New York hotel. He was on his own and about to enter the building when he was shot in the back by a masked assailant who fled on foot before pedaling an e-bike into Central Park a few blocks away, the New York Police Department said. Chief of Detectives Joseph Kenny said investigators were looking at Thompson's social media accounts and interviewing employees and family members. “Didn’t seem like he had any issues at all,” Kenny said. "He did not have a security detail.” AP reporters Michael R. Sisak and Steve Karnowski contributed to this report. Murphy reported from Indianapolis. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest in local public safety news with this weekly email.
Are you a fan of stocks like I am? If you are, then it could be worth looking at the two ASX growth shares listed below. They have been named as buys by brokers and tipped to rise strongly from current levels. Here's what analysts are saying about them: ( ) Morgans thinks that NextDC could be an ASX growth share to buy for big returns. It is a leading provider of innovative data centre outsourcing solutions, connectivity services, and infrastructure management software. NextDC has been growing at a strong rate for many years and the broker believes this will continue for some time to come. This is thanks to the significant and ongoing structural demand for data centre capacity, which is being underpinned by the artificial intelligence megatrend. The broker said: Enjoying all the benefits of the AI growth opportunity with less volatility are the operators of data centres. Data centres are facilities that store, process, and manage the vast amounts of data foundational to AI, ensuring secure and efficient data flow, backup, and recovery. [...] Digital Realty recently reported a record sales quarter during which it sold double the data centre capacity of its previous high and about four times more capacity than it usually sells in a quarter. This reinforces our view that the significant demand for cloud computing and AI-related digital infrastructure is going to unpin attractive returns and long-term growth. [...] Our preferred exposure is NEXTDC. It has 17 operational data centres in Australia and nearly a dozen under construction or about to be built across Australasia and Asia. Morgans currently has an add rating and $20.50 price target on its shares. This suggests that upside of 25% is possible for investors over the next 12 months. ( ) Another ASX growth share that could deliver big returns for investors is Xero. It is a global small business platform provider with 4.2 million subscribers at the last count. Xero notes that its smart tools help small businesses and their advisors to manage core accounting functions like tax and bank reconciliation, and complete other important small business tasks like payroll and payments. While 4.2 million users sounds like a lot, Goldman Sachs notes that this is only a small portion of its total addressable market (TAM). It estimates this to be over 100 million subscribers across the globe, giving it a significant growth runway. The broker said: Xero is a Global Cloud Accounting SaaS player, with existing focuses in ANZ, UK, North American and SE Asian markets. We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$100bn TAM. Given the company's pivot to profitable growth and corresponding faster earnings ramp, we see an attractive entry point into a global growth story with Xero our preferred large-cap technology name in ANZ – the stock is Buy rated. Goldman currently has a conviction buy rating and $201.00 price target on its shares. This implies potential upside of 16% for investors.
US President Joe Biden on Sunday said deposed Syrian leader Bashar al-Assad should be "held accountable" but called the nation's political upheaval a "historic opportunity" for Syrians to rebuild their country. In the first full US reaction to Assad's overthrow by an Islamist-led coalition of rebel factions, Biden also warned that Washington will "remain vigilant" against the emergence of terrorist groups, announcing that US forces had just conducted fresh strikes against militants from the Islamic State organization. "The fall of the regime is a fundamental act of justice," Biden said, speaking from the White House. "It's a moment of historic opportunity for the long-suffering people of Syria." Asked by reporters what should happen to the deposed president, who reportedly has fled to Moscow, Biden said that "Assad should be held accountable." Biden -- set to step down in January and make way for Republican Donald Trump's return to power -- said Washington will assist Syrians in rebuilding. "We will engage with all Syrian groups, including within the process led by the United Nations, to establish a transition away from the Assad regime toward independent, sovereign" Syria "with a new constitution," he said. However, Biden cautioned that hardline Islamist groups within the victorious rebel alliance will be under scrutiny. "Some of the rebel groups that took down Assad have their own grim record of terrorism and human right abuses," Biden said. The United States had "taken note" of recent statements by rebels suggesting they had since moderated, he said, but cautioned: "We will assess not just their words, but their actions." Biden said Washington is "clear eyed" that the Islamic State extremist group, often known as ISIS, "will try to take advantage of any vacuum to reestablish" itself in Syria. "We will not let that happen," he said, adding that on Sunday alone, US forces had conducted strikes against ISIS inside Syria. The US military said the strikes were conducted by warplanes against Islamic State operatives and camps. Strikes were carried out against "over 75 targets using multiple US Air Force assets, including B-52s, F-15s, and A-10s," the US Central Command said on social media. Earlier, Biden met with his national security team at the White House to discuss the crisis. Assad's reported departure comes less than two weeks after the Islamist Hayat Tahrir al-Sham (HTS) group challenged more than five decades of Assad family rule with a lightning rebel offensive that broke long-frozen frontlines in Syria's civil war. They announced Sunday they had taken the capital Damascus and that Assad had fled, prompting celebrations nationwide and a ransacking of Assad's luxurious home. A Kremlin source told Russian news agencies that the deposed leader was now in Moscow, along with his family. The US military has around 900 troops in Syria and 2,500 in Iraq as part of the international coalition established in 2014 to help combat the Islamic State jihadist group. It has regularly struck targets in the country including those linked to Iranian-backed militias. Tehran was a major backer of Assad's government. Biden also confirmed US authorities believe the American journalist Austin Tice, who was abducted in Syria in 2012, still lives. "We believe he's alive," Biden said, but the US has yet "to identify where he is." bur-sms/mlmAsia Capital PLC denies claims of offer from MAC Holdings for Majority Stake
Since her divorce from in 2012, has taken a step back from discussing her personal life with the public, keeping a lower profile than when she was married to the actor. But it seems that the star hit a breaking point, taking to social media to address a rumor surrounding her ex-husband and their daughter, 18-year-old . Javascript is required for you to be able to read premium content. Thanks for the feedback.
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Shares of Marvell Technology ( MRVL 23.19% ) surged 23.2% on Wednesday following the data infrastructure semiconductor specialist's release on the prior afternoon of its report for the third quarter of its fiscal year 2025 (ended Nov. 2, 2024). Investors' positive reaction can be attributed to the quarter's revenue and earnings beating Wall Street's consensus estimates, and fourth-quarter guidance for both the top and bottom lines speeding by analysts' expectations. Powerful demand for artificial intelligence (AI) capabilities was the driver of Marvell's quarterly growth and better-than-expected guidance. Marvell Technology's key numbers Metric Fiscal Q3 2024 Fiscal Q3 2025 Change YOY Revenue $1.42 billion $1.52 billion 7% GAAP operating income ($146.3 million) ($702.8 million) Loss widened 380% GAAP net income ($164.3 million) ($676.3 million) Loss widened 312% Adjusted net income $354.1 million $ 373 .0 million 5% GAAP earnings per share (EPS) ($0.19) ($0.78) Loss widened 311% Adjusted EPS $0.41 $0.43 5% Data source: Marvell Technology. YOY = year over year. GAAP = generally accepted accounting principles. Fiscal Q3 2025 ended Nov. 2, 2024. Investors should focus mainly on the adjusted numbers, which exclude one-time items. Adjusted net income excludes $715.1 million in restructuring charges, $264.9 in amortization of acquired intangible assets, $158.4 million in stock-based compensation, and a few other smaller positive and negative items. Wall Street was looking for adjusted EPS of $0.40 on revenue of $1.45 billion, so Marvell surpassed both expectations. In the quarter, Marvell generated cash of $536.3 million running its operations, up 7% from the year-ago period. The company ended the quarter with cash and equivalents of $868.1 million, up 7% from the prior quarter, and long-term debt of $3.97 billion on its balance sheet. Performance by end market End Market Fiscal Q3 2025 Revenue Change YOY Data center $1.10 billion 98% Enterprise networking $150.9 million (44%) Carrier infrastructure $84.7 million (73%) Consumer $96.5 million (43%) Automotive/industrial $82.9 million (22%) Total $1.52 billion 7% Data source: Marvell Technology. YOY = year over year. The data center end market's phenomenal growth of 98% year over year was driven by strong demand for the company's AI -related products. These mainly include its custom AI chips -- which are application-specific integrated circuits (ASICs) -- and interconnect products for AI-enabled data centers. In fiscal Q3, the data center end market accounted for a whopping 72% of Marvell's total revenue. This is up from just 39% in the year-ago quarter, clearly showing how the company's business profile has changed considerably in just one year. The other four end markets continued to struggle on a year-over-year basis, dragging down the company's overall results. This is a semiconductor industrywide phenomenon, not specific to Marvell. What the CEO had to say In the earnings release, CEO Matt Murphy commented on the quarter's results and the outlook for Q4: Moreover, in addition to expecting a "strong finish to this fiscal year," Murphy said management projects the "substantial momentum to continue in fiscal 2026." Guidance For the fiscal Q4 (which ends in late January/early February 2025), management expects: Revenue of $1.80 billion, which equates to growth of 26% year over year. Adjusted EPS of between $0.54 and $0.64, which equates to growth of 17% to 39% (28% at the midpoint). Going into the release, Wall Street had been expecting fiscal Q4 adjusted EPS of $0.52 on revenue of $1.65 billion, so Marvell's outlook sprinted by both expectations. Management sees accelerating growth on the horizon Marvell's overall fiscal Q3 results were just so-so with year-over-year revenue and adjusted EPS only increasing a modest 7% and 5%, respectively. But its fiscal Q4 guidance looks great, with expected revenue growth of 26% year over year and adjusted EPS growth of 17% to 39%. This robust outlook reflects management's confidence that strength in its AI-powered data center end market will continue and that demand in some of its other markets will improve.
WESTERN BUREAU: A slow start did not dictate Dr Aubrey Stewart’s journey. Hailing from the inner-city community of Albion Lane in Montego Bay, St James, he struggled through poverty and gun violence. Among the atrocities he faced was seeing his family’s home being firebombed and shot at during gang violence in 2007, resulting in his mother and grandmother being injured. Stewart, who then regarded himself as “a slow learner” due to his academic struggles while attending Cornwall College, which was a stone’s throw from his home, was nonetheless ambitious and hungry to succeed. Now, his aspirations and tenacity have paid off despite the struggles. Stewart, who is now 31, and who was a Fulbright Scholarship recipient, recently completed a PhD in public policy, specialising in crime policy evaluation and program design, at Florida International University (FIU). In a recent interview with The Gleaner , Stewart reminisced on his academic journey from Cornwall College to FIU. While explaining that he was never a high achiever during high school, Stewart stated that joining the cadets helped to develop his sense of discipline, which brought him to obtain three university degrees. But, before heading off to university, Stewart had to tackle the hurdles of completing high school. ‘Cadet made me more disciplined’ “I was one of the first persons in my area to attend Cornwall College and then, after that, it was like a ripple effect. Other young boys were getting the opportunity to attend Cornwall. I was not necessarily a high achiever there. I was in cadet and did a lot of community service, so I would say that my high school journey started very slow, but cadet made me a lot more disciplined and I started focusing on school. I realised that my grades started getting a little bit better,” Stewart said. Though his Caribbean Examination Council (CXC) grades weren’t impressive, Stewart worked hard to land a place at The University of West Indies Western Jamaica Campus (WJC), where he blossomed while pursuing a bachelor’s degree in political leadership, strategy and management. “I never got all the ones that my classmates were getting. Mi get the one, two, three, four and five. I couldn’t afford to attend sixth form at Cornwall. Some persons were giving scholarships and because of my discipline and community service they decided to award me with sponsorship so I could attend sixth form,” Stewart said. “I went to UWI WJC and my grades started getting better. I was campus chairman ... and I realised that I actually could do this. The ones and fives I used to get in high school didn’t matter anymore.” While pursuing his undergraduate studies, Stewart was involved in several community-based initiatives. He maintained a strong relationship with his community and further honed his skills. He pursued a master’s degree in comparative politics and political theory through a partnership with UWI and the University of Cambridge. He later worked as a data scientist and research fellow in the Ministry of National Security and the Office of the Prime Minister in Jamaica before receiving the Fulbright Scholarship in 2021. During his doctoral studies, Stewart maintained a 4.0 grade point average and was inducted into the Phi Kappa Phi honour society, the oldest academic society in the United States (US). He is now proud of the strides he has made. “I started pretty slow because I didn’t have an academic support system. I think I was pretty slow because, in grade nine, I would shy away from just reading in class. I didn’t want to read because the boys would laugh at me. It was just a journey but I am proud and grateful. I would not change anything about my growing up. It was pretty hard but I would not change it. There are many young people in inner-city communities, just like Albion Lane, and they are slow but that is not it for them. Sometimes it just takes one opportunity to open many more gates.” Stewart further stated that his family is elated by his achievements. “They are extremely happy for me. Maybe not all of my family members understand what a PhD means or what it entails, but they are proud,” he said. In the meantime, Stewart has since returned home with an important mission ahead. He told The Gleaner that he refused an opportunity to become a professor in the US due to his love and dedication to Jamaica. “I got an opportunity in the US to be a professor but decided to turn down the opportunity and come to Jamaica ... to serve my country [as a] consultant working on national security projects.” With the knowledge gained over the years, Stewart is aiming to make an impact in the country’s national security ministry. His PhD dissertation focused heavily on crime prevention policies implemented in Caribbean countries and ways to improve on those initiatives. “What I have been doing in my dissertation studies is to create tailored crime prevention policies and initiatives that this government and Caribbean governments can use to enhance their security apparatus. I have evaluated all the different types of policies that Jamaica, Trinidad and Tobago have implemented, and also policies in other Latin American countries to see how effective they have been. That’s the type of work that I have been doing and I’ll be putting some of that in place in Jamaica,” he said. rochelle.clayton@gleanerjm.com
We are well-positioned to grow via key market opportunities at the forefront of global healthcare, including the incoming U.S. administration's aim to "Make America Healthy Again" by tackling chronic disease. Commercial and Community Care-Delivery: Continued expansion with market-leading employer, provider and payvider innovation partners Growth of GLP-1s: Engagement expertise provides unique ability to facilitate sustainable health outcomes and demonstrable ROI to GLP-1 sponsors Rise of Health AI: Unique data sets and capabilities will enrich and accelerate progress of next-gen clinical discovery platforms TORONTO , Nov. 27, 2024 /PRNewswire/ - Newtopia Inc. (" Newtopia " or the " Company ") NEWU NEWUF , a tech-enabled whole health platform creating sustainable habits that prevent, slow and reverse chronic disease, today announced its third quarter 2024 financial results, operational highlights and filing of its financial statements. These results pertain to the three months ended September 30, 2024 . All amounts are expressed in Canadian dollars, unless otherwise noted. Third Quarter 2024 Financial Highlights: Revenue of $1.0 million Opex reduction of 16% New partnership with US supplemental payvider positions Newtopia for profitability in 2025 "As we have for eleven years, Newtopia continues to prove our unique ability to produce industry-leading patient engagement and to cultivate healthy habits that can prevent, slow and reverse chronic metabolic disease", said Jeff Ruby , Newtopia Founder and CEO. "Most recently, we reported nine-month outcomes from our ongoing trial with Arkansas -based Heartland Whole Health Institute, in which we delivered Newtopia's best-ever engagement rates and weight loss outcomes in both provider and employer environments." "This quarter we also further strengthened our underlying operations, and evolved our offerings to respond to emerging industry opportunities and value-based needs, including the incoming US administration's desire to 'Make America Healthy Again' by tackling chronic disease – something we do better than anyone else in the market", continued Ruby. "Building on the strength of this progress we continue to pursue three significant opportunities to accelerate Newtopia growth in the final quarter of the year and into 2025: (1) expanding our key innovation partnerships with providers, employers and provincial payers, including a new relationship with a US Supplemental Payvider covering millions of employee lives; (2) combining Newtopia's proven habit change platform with GLP-1 drugs for obesity and type 2 diabetes; and (3) partnering with health AI and clinical discovery innovators to improve our collective ability to deliver best in breed outcomes that prevent, reverse and slow chronic disease", Ruby concluded. Third Quarter 2024 Financial Results Revenue for the three months ended September 30, 2024 was $1.0 million compared to $2.4 million in the prior-year period. This decrease is driven by the loss of a client effective June 2024 , in addition to a structural incentive change with an existing client which the Company is actively working to offset. Gross profit for the third quarter was $0.3 million , or 34% of revenue. Gross profit consists of revenue less direct expenses, including the cost of Welcome Kits and labor costs associated with the Company's frontline health coaching team. Adjusted operating expenses for the three months ended September 30, 2024 , totaled $1.3 million , compared to $1.6 million in the prior-year period. The Company posted an adjusted operating loss of $987 thousand , compared to a gain of $21 thousand in the prior-year period. Given the new partnership with a US payvider, Newtopia anticipates returning to profitable growth in the near future. Conference Call The Company will host a conference call November 27 at 5 p.m. eastern time to discuss the third quarter 2024 results in further detail. To access the conference call, please dial (800) 717-1738 (U.S.) or (646) 307-1865 (International) 10 minutes prior to the start time and reference Conference ID number 15026. The call will also be available via live webcast on the investor relations portion of the Company's website located at investor.newtopia.com . A replay of the conference call will be available through December 18, 2024 , which can be accessed by dialing (844) 512-2921 (U.S.) or (412) 317-6671 (International) and entering the passcode 11157569. The webcast will also be archived on the Company's website. About Newtopia Newtopia is a personalized whole health platform helping people create positive lifelong habits that prevent, slow, or reverse chronic disease while reducing healthcare costs. The platform leverages genetic, social and behavioral insights to create individualized prevention programs with a focus on metabolic disease, diabetes, mental health challenges, hypertension, weight management and musculoskeletal disorders. With a person-centered approach that combines virtual care, digital tools, connected devices and actionable data science, Newtopia delivers sustainable clinical and financial outcomes. Newtopia serves some of the largest nationwide employers and health plans and is currently listed in Canada on the Toronto Stock Exchange NEWU and is quoted in the US on the OTCQB ® Venture Market NEWUF . To learn more, visit newtopia.com , LinkedIn or X . Forward Looking Statements This news release contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, and forward looking statements, within the meaning of applicable United States securities legislation (collectively, "forward-looking statements"), which reflects management's expectations regarding Newtopia's future growth, results from operations (including, without limitation, future production and capital expenditures), performance (both operational and financial) and business prospects and opportunities. Wherever possible, words such as "predicts", "projects", "targets", "plans", "expects", "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. All statements other than statements of historical fact may be forward- looking information. Such statements reflect Newtopia's current views and intentions with respect to future events, based on information available to Newtopia, and are subject to certain risks, uncertainties, and assumptions. Material factors or assumptions were applied in providing forward-looking information. While forward-looking statements are based on data, assumptions and analyses that Newtopia believes are reasonable under the circumstances, whether actual results, performance or developments will meet Newtopia's expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of Newtopia to differ materially from its expectations. Forward-looking statements are not a guarantee and are based on a number of estimates and assumptions management believes to be relevant and reasonable, whether actual results, performance or developments will meet Newtopia's expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of Newtopia to differ materially from its expectations. Certain of the "risk factors" that could cause actual results to differ materially from Newtopia's forward-looking statements in this press release include, without limitation: the termination of contracts by clients, risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters- in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and other general economic, market and business conditions and factors, including the risk factors discussed or referred to in Newtopia's disclosure documents, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca including Newtopia's final long form prospectus dated March 30, 2020 . For more information on these risks please see the "Risk Factors" in Newtopia's final long-form prospectus dated March 30, 2020 . Should any factor affect Newtopia in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Newtopia does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this news release is made as of the date of this news release, and Newtopia undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Key Financial Measures and Schedule of Non-GAAP Reconciliations Unaudited Gross Profit Information- including amortization Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 $ $ $ $ Revenue 986,116 2,434,606 4,369,086 7,440,297 Cost of revenue (651,969) (1,040,988) (2,359,758) (3,501,663) Gross profit 334,147 1,393,618 2,009,328 3,938,634 Gross profit margin 34 % 57 % 46 % 53 % Reconciliation of Total Operating Expenses to Adjusted Operating Expenses Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 $ $ $ $ Total expenses 1,978,493 2,164,039 6,038,822 7,313,195 Add (Subtract) Share-based compensation (54,851) (158,584) (195,941) (466,887) Depreciation of property and equipment (483) (1,386) (1,953) (4,965) Debenture interest and accretion expense (300,997) (246,556) (844,321) (593,979) Interest on promissory note (2,000) - (2,000) - Interest on lease obligations - (5,221) - (26,784) Finance charges (256,482) (145,024) (496,171) (376,990) Amortization of deferred finance charges (44,984) (39,710) (130,884) (107,500) Foreign exchange gain (loss) 2,094 17,302 32,843 (36,791) (Loss) Gain on settlement of related party payable - 3,111 (9,797) 10,314 Adjusted operating expenses 1,320,790 1,579,015 4,390,598 5,700,657 Unaudited Adjusted Operating Loss Three Months Ended Sep 30, Nine Months Ended Sep 30, 2024 2023 2024 2023 $ $ $ $ Gross profit 334,147 1,393,618 2,009,328 3,938,634 Add back amortization of intangible asset - 206,509 - 619,537 Adjusted gross profit 334,147 1,600,127 2,009,328 4,558,171 Adjusted operating expenses (1,320,790) (1,579,015) (4,390,598) (5,700,657) Adjusted operating loss (986,643) 21,112 (2,381,270) (1,142,486) Newtopia Inc. Condensed Interim Consolidated Statements of Financial Position (Unaudited) As at September 30, 2024 and December 31, 2023 (Expressed in Canadian Dollars) September 30, December 31, 2024 2023 $ $ Assets Current assets Cash 10,200 387,339 Trade and other receivables 381,061 1,400,959 Contract assets - 259,072 Prepaid expenses and deposits 137,226 101,043 Inventories 91,654 115,232 Deferred costs 41,979 64,583 662,120 2,328,228 Property and equipment 2,712 4,665 664,832 2,332,893 Liabilities Current liabilities Trade and other payables 2,415,716 1,825,356 Credit facility 4,865,674 4,767,006 Promissory note 200,000 - Contract Liability 48,746 - Deferred revenue - 48,185 Debentures 5,735,672 3,723,530 13,265,808 10,364,077 Debentures - 1,387,476 13,265,808 11,751,553 Shareholders' Equity (Deficit) Common shares 49,754,858 49,404,596 Contributed surplus 14,648,104 14,151,188 Deficit (77,003,938) (72,974,444) (12,600,976) (9,418,660) 664,832 2,332,893 Newtopia Inc. Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Unaudited) Three Months Ended September 30, 2024 (Expressed in Canadian Dollars) 2024 2023 $ $ Revenue 986,116 2,434,606 Cost revenue 651,969 1,040,988 Gross profit 334,147 1,393,618 Operating expenses Technology and development 366,732 446,504 Sales and marketing 163,261 317,544 General and administrative 790,797 814,967 Share-based compensation 54,851 158,584 Depreciation of property and equipment 483 1,386 1,376,124 1,738,985 Other expenses (income) Interest on lease obligations - 5,221 Debenture interest and accretion expense 300,997 246,556 Interest on promissory note 2,000 - Finance charges 256,482 145,024 Foreign exchange (gain) loss (2,094) (17,302) (Gain) Loss on settlement of related party payable - (3,111) Amortization of deferred finance charges 44,984 39,710 602,369 425,054 Net loss and comprehensive loss (1,644,346) (770,421) Loss per share Basic and diluted loss per share (0.01) (0.01) Weighted average number of shares outstanding Basic and diluted 173,265,303 153,829,313 Newtopia Inc. Condensed Interim Statements of Cash Flows (Unaudited) Nine Months Ended September 30, 2024 (Expressed in Canadian Dollars) 2024 2023 $ $ Cash flows used in operating activities Net loss and comprehensive loss (4,029,494) (3,374,561) Items not involving cash Depreciation of property and equipment 1,953 4,965 Amortization of intangible asset - 619,537 Amortization of deferred finance charge 130,884 107,500 Debenture interest and accretion expense 624,661 353,530 Interest on promissory note 2,000 - Interest on lease obligations - 26,784 Debt modification - 8,956 Credit facility interest 130,466 - Share-based compensation 195,941 466,887 (Gain) Loss on settlement of related party payable 9,797 (10,314) (2,933,792) (1,796,716) Change in non-cash working capital Trade and other receivables 1,019,898 (216,987) Prepaid expenses and deposits (36,183) (33,712) Inventories 23,578 208,151 Trade and other payables 442,895 (502,016) Deferred revenue (48,185) - Contract asset/liability 307,818 174,670 (1,223,971) (2,166,610) Cash flows used in investing activities Purchase of property and equipment - (2,548) - (2,548) Cash flows from financing activities Credit facility withdrawals (3,726,407) 4,706,984 Credit facility repayments 3,825,080 (5,167,679) Credit facility financing costs (93,280) (117,260) Promissory note 200,000 - Repayment of lease obligation - (464,998) Proceeds from private placement issuance of Units, net of costs 641,440 1,467,295 Proceeds from issuance of debenture units, net of costs - 1,746,201 Repayment of debentures - (30,000) proceeds from exercise of warrants - 258,299 846,833 2,398,842 (Decrease) Increase in cash (377,139) 229,684 Cash, beginning of period 387,339 345,950 Cash, end of period 10,200 575,634 View original content to download multimedia: https://www.prnewswire.com/news-releases/newtopia-reports-third-quarter-2024-financial-results-302317816.html SOURCE Newtopia Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.JPMORGAN is to sponsor the most prestigious part of English football club Arsenal FC’s Emirates Stadium in London, according to sources familiar with the matter. The US banking giant becomes the first sponsor of Arsenal’s Diamond Club, a lounge that hosts wealthy fans who pay tens of thousands of pounds a season to watch the team, known as the Gunners, in luxury surroundings. JPMorgan’s branding will be visible during tonight’s match between Arsenal and Manchester United FC, the sources said, asking not to be identified discussing confidential information. The Diamond Club, nestled above the half-way line to provide the best view of the pitch, comes with heated seats and blankets to help fans cope with the English winter. It is named after deceased director Danny Fiszman, a diamond dealer who was instrumental to the construction of the Emirates Stadium, and features the gold Premier League trophy awarded to former manager Arsene Wenger after his team went a whole season unbeaten in 2003 to 2004. The sponsorship deal was reported earlier in a social media post by an Arsenal fan blog. Representatives for Arsenal and JPMorgan declined to comment. Arsenal moved into the Emirates Stadium in 2006. The ground has a capacity of around 60,700, slightly smaller than the new stadium built by north London rivals Tottenham Hotspur FC. Arsenal’s American billionaire owner Stan Kroenke could reportedly try to expand the Emirates Stadium to once again boast the biggest club arena in London. BLOOMBERGLouisiana State Employees Retirement System decreased its holdings in shares of Amazon.com, Inc. ( NASDAQ:AMZN – Free Report ) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 835,900 shares of the e-commerce giant’s stock after selling 2,300 shares during the quarter. Amazon.com comprises about 2.9% of Louisiana State Employees Retirement System’s portfolio, making the stock its 4th biggest holding. Louisiana State Employees Retirement System’s holdings in Amazon.com were worth $155,753,000 at the end of the most recent quarter. Other large investors have also modified their holdings of the company. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter valued at about $45,000. Christopher J. Hasenberg Inc grew its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock. Wall Street Analysts Forecast Growth AMZN has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Maxim Group increased their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.20. Amazon.com Stock Up 1.0 % Shares of NASDAQ:AMZN opened at $207.89 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $142.81 and a 1 year high of $215.90. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 44.52, a PEG ratio of 1.38 and a beta of 1.14. The stock has a 50-day simple moving average of $194.78 and a 200-day simple moving average of $186.94. Amazon.com ( NASDAQ:AMZN – Get Free Report ) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year. Insider Buying and Selling at Amazon.com In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website . Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here . Insiders sold 6,026,683 shares of company stock valued at $1,252,148,795 over the last 90 days. 10.80% of the stock is owned by corporate insiders. Amazon.com Company Profile ( Free Report ) Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content. Further Reading Five stocks we like better than Amazon.com How to Invest in Insurance Companies: A Guide The Latest 13F Filings Are In: See Where Big Money Is Flowing How to Use the MarketBeat Excel Dividend Calculator 3 Penny Stocks Ready to Break Out in 2025 3 Tickers Leading a Meme Stock Revival FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter .
Vibrant urban neighbourhoods, a bustling new food hall, and a £40m skills training centre were among the new additions to Bolton in a year that saw the borough’s regeneration come to life. After years of planning, preparation and investment, 2024 marked the first time that residents and visitors could see, feel and experience the benefits of redevelopment. Not only was this the year that major projects were completed, but a number of exciting plans were also confirmed for 2025 and beyond. The year started with the official reopening of Bolton Central Library in January, following a £4.43m renovation to provide an expanded children’s area, improved social spaces, updated digital facilities and the brand-new Café Crescent. Bolton Council Leader Cllr Nick Peel and Deputy Leader Cllr Akhtar Zaman visit the newly opened homes at the Moor Lane development (Image: Bolton Council) Time kept ticking on, and in February the council intervened to repair and restore the clock tower at Bolton Train Station. While regeneration and new developments are vital, the move was said to have underscored a commitment to protecting and enhancing the borough’s many great heritage assets. Cllr Hamid Khurram, Cabinet Member responsible for Transport, with the newly restored train station clock tower (Image: Bolton Council) Elsewhere in the borough, the council is working with Heritage England, investors and other partners to bring historic buildings like Hall i’ th’ Wood, Number 1 Newport Street, and Rock Hall back into public use. In March, then Mayor of Bolton Cllr Mohammed Ayub cut the ribbon at Elizabeth Park, the town centre’s first new green space in over a century. Featuring a central lawn, broad flower beds, a rain garden, generous seating and a public performance space, the park would go on to win “Project of the Year” at the regional Civil Engineering Contractors Association awards. Regeneration is happening right across the borough, with Farnworth among the district centres benefiting from significant investment. Farnworth has previously secured funding from the Future High Street Fund and the Greater Manchester Investment Fund. This had already seen the Leisure Centre being upgraded, new homes , shops, and a community hub at Farnworth Green, as well as streetscape improvements which started in April. In May, residents were consulted on a new long term plan for Farnworth which will see £20m invested in the town, spread over the next ten years with projects and priority areas decided by local people. Bolton Market Food Hall (Image: Paul Heyes) Regeneration goes far beyond just new buildings and major investment, but also means creating vibrant communities and building a sense of pride in where people live. Bolton has a well-deserved reputation for its performing arts, major events, and cultural scene and this plays a vital role in attracting people to live, work , visit, study and invest locally. Once again, Bolton took centre stage when it was declared this year’s Greater Manchester Town of Culture in May. Announcing his decision, the Mayor of Greater Manchester Andy Burnham said: "I'm confident that we'll see the very best of Bolton over the next 12 months and that people will come from far and wide to see what this brilliant town has to offer." During the summer, work to build the £40m first of its kind, Bolton Institute of Medical Sciences was also completed ahead of welcoming its first students for the new term. (Image: Adrian Greenhalgh) Subject to approval, the Institute will become a medical school (pictured above )with the first cohort of student doctors expected in September 2025. June was a big month for food lovers as the traders at the Bolton Market Food Hall opened for businesses, just in time for live screenings of UEFA European Football Championship. Part of the wider £5.9m market transformation, the hall offers cuisine from around the world and has proved a massive hit with customers. Bolton Market offers fresh, locally sourced produce at reasonable prices, making it the ideal shopping destination for the many new residents who are expected to move to the town centre as part of the regeneration masterplan. This took a major step forward in July when local developers Watson secured land at Church Wharf to deliver a £75m project to include a hotel and 400 new homes. Watson continued to invest in the community as headline sponsors of August’s Bolton Food and Drink Festival. READ MORE: Multi-million pound development of Bolton Library Bolton's Primark store's opening day sees 500 shoppers queue The highlight of the annual event calendar, the festival showcases the very best of Bolton to a national and international audience. Food and Drink Festival (Image: Paul Heyes) After Storm Lilian put the event in doubt, council staff, local businesses and volunteers worked through the night to ensure the festival could go ahead. Major events are a key part of Bolton’s Visitor Economy Strategy, a plan to drive footfall, enhance the quality of life of residents and boost the economy. Off the back of the strategy, Bolton was chosen in September as a pilot area for the Greater Manchester Visitor Economy Accelerator Programme. The aim of the programme is to foster growth and increase collaboration within the tourism and hospitality sectors through masterclasses, workshops and one-to-one support. Wellsprings Innovation Hub (Image: Bolton Council) September also gave residents their first look at the Wellsprings Innovation Hub backed by £6.9m from the Towns Fund and a further £1.4m from the UK Shared Prosperity Fund. Since then, entrepreneurs and business start-ups from the creative and technology sectors have been applying for office spaces at the facility which opens in early 2025. The Wellsprings offers co-working space and meeting rooms, call pods, bike storage and kitchen facilities. October brought one of the year’s most significant announcements with news that the demolition of Crompton Place is due to start in 2025 with work already underway to appoint a developer for the site. Bolton Council Leader, Cllr Nick Peel, said: “The redevelopment of Crompton Place is a once in a generation opportunity to replace and reimagine an underused and unappealing building with something everyone in Bolton can be proud of. “It also gives us the opportunity to enhance Victoria Square and open up a direct link to Bradshawgate, with various buildings and open spaces on the site, rather than the single large building we have at present. “This will be our flagship redevelopment project, signalling to the private sector that Bolton Council is serious about regeneration and thereby attracting even more commercial investment.” The announcement followed years of work by Bolton Council to support existing tenants to relocate to other areas of the town centre, as part of a plan to consolidate a quality retail offer around the Market Place. This culminated in November with the grand opening of the shopping centre’s new Primark. Store Manager, Caroline Wood, said: “We’ve been in the heart of Bolton now for 48 years so this is an important move for us, and we’ve been overwhelmed by the positive response already from shoppers who’ve joined us today.” In December, attention turned to the enormous potential of some of the town centre’s other buildings. During a business event, property owners and potential investors were given advice and information about converting existing buildings for residential use in the centre. This followed a similar successful event focused on the hospitality sector, and a planned event in February focusing on buildings with potential to be used as office space. The year ended with even more exciting news, as the first residents moved into their new homes at Moor Lane. Bolton at Home and Step Places have jointly developed the 214-home Neighbourhood Moor Lane development in partnership with Bolton Council. Deansgate Gardens (Image: Bolton Council) Developments like Moor Lane and the nearby Deansgate Gardens, among others, are expected to bring an additional 5,000 people to live in the town centre, creating vibrant urban neighbourhoods and supporting local businesses. Reflecting back on the year, Bolton Council’s Deputy Leader, Cllr Akhtar Zaman, said: “In January, I said that 2024 would be the year that Bolton residents would first see and feel the tangible benefits of regeneration. “As we come to the end of the year, we can already see the positive impact that projects like the new Food Hall and renovated library are having. “As Moor Lane and Deansgate Gardens welcome their first residents, this will boost the town centre economy and build market confidence to attract more inward investment. “Now is the time to build on this success and we look forward to more exciting announcements in 2025.”LPGA, USGA to require players to be assigned female at birth or transition before puberty
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Four decades after deadly Bhopal disaster, nightmare remains but no single culprit ever jailedBonus shares 2024: Shares of Kothari Products surged over 7 per cent in intra-day trade on Monday, December 30 following the board's approval to bonus share issue in the ratio of 1:1. This was the second straight day of gains for Kothari Products stock, with the scrip rallying 12 per cent during this period. In an exchange filing on Friday, December 27, Kothari Products informed that its Board of Directors, at its board meeting held today, recommended the issue of bonus shares in the ratio of 1:1, subject to the approval of the members through postal ballot. This means that every shareholder who owns one stock of the company as of the record date will receive another stock at no additional cost. However, the company has not yet announced the record date for the bonus share issue . The company's board also approved increasing the authorized share capital from Rs. 31,50,00,000 to ₹ 61,50,00,000, subject to the approval of the members through postal ballot. Stock Price Trend Following this development, Kothari Products share price surged as much as 7.37 per cent to the day's high of ₹ 209.70. The stock opened at ₹ 199.15 as against its previous close of ₹ 195.30. The stock hit its 52-week high of ₹ 227.35 last week, on December 26, while its 52-week low stands at ₹ 111.15, which it touched on March 13, 2024. So far this month, the stock has rallied 30 per cent, while it has rallied 50 per cent in the last six months. On a one-year basis, Kothari Products share price is up 61 per cent. Kothari Products, engaged in sectors such as real estate, investments and international trading of exports and imports, is a small-cap company with a market capitalisation of ₹ 600 crore. Kothari Products Bonus Shares History This is the third bonus share action by Kothari Products. The small-cap firm had first approved bonus shares in the ratio of 2:1 in March 2014. Meanwhile, it announced a second bonus share issue in 2016 in a 1:2 ratio, suggests data from Trendlyne. Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Published 12:00 am Monday, December 30, 2024 By Guest Columnist The death of cursive handwriting reared its ugly head during the recent presidential election. Since 2010, according to Yahoo News, many states have dropped cursive writing from their curricula as they shifted to Common Core State Standards for English. As a result, many Gen Z Americans lack a distinctive cursive signature, which posed a problem for Gen Z voters who used mail-in ballots last month. Since officials had great difficulty matching Gen Z mail-in-ballot signatures to the signatures the government had on file for them, many of their ballots were tossed. This problem has renewed interest in the cursive debate. As it goes, the origin of cursive dates back centuries. It was the result of technological innovations in writing — inkwells and quill pens made from goose feathers. Since the ink dripped when you lifted the quill from the paper, it made sense to connect letters and words together in one flowing line — and cursive writing was born. My mother and father were taught to master cursive in the 1940s. Both mastered incredibly elegant handwriting. I grew up in the 1970s, the era of Bic ballpoint pens. Such pens didn’t leak and, technically, didn’t re quire cursive writing. But the good nuns of St. Germaine Catholic School made us master it anyway. They’d be horrified to see the chicken scratch I write now, though I have an excuse. I am a product of the electronic era. I do all my writing on a computer. I’ve become very fast at keying-in my thoughts. When I write by hand, though, I am so agitated by the slowness, I rush it along. My dad joked that I should have been a doctor! In any event, with such modern technological innovations, some argue that cursive is no longer needed and is also costly and time-consuming to teach. Curses to that, say others. More than a decade ago, Katie Zezima argued in The New York Times that if people are not taught cursive, they’ll be more at risk of forgery; printing in block letters is much easier to replicate. And the development of fine motor skills will be thwarted, she added. Besides, she asked, how will people unfamiliar with cursive read important documents, such as the Declaration of Independence and the U.S. Constitution? To be sure, it has become such a growing problem that the government is spending taxpayer money to transcribe historical cursive documents, so that Gen Z can read them. I’m certainly a proponent of moving forward with innovation. I’m able to run a communications and video-production business from anywhere on Earth without any need for cursive handwriting. Then again, I wonder that in our eagerness to advance, we tossed out the baby with the bath water. The mail-in-ballot issue certainly should make us see the need for distinct cursive signatures, but there’s a human element to keeping cursive, too. One of my most prized possessions is a letter written by my father’s father in 1924 consoling a woman whose mother had just died. He wrote the letter when he was 21. I was given the letter in 1997 by the son of the woman my grandfather wrote the letter to. I was struck by how similar my grandfather’s writing style was to my father’s — how similar his writing style was to mine — and I was moved by the beauty and artfulness of his signature. I can’t imagine a world in which letters written in cursive are no longer left behind for future generations to cherish. See Tom Purcell’s syndicated column, humor books and funny videos featuring his dog, Thurber, at TomPurcell.com. Email him at Tom@TomPurcell.com.BREAKING: Northern California elementary school shooting leaves suspect dead, sheriff reportsIt looked like a recipe for disaster. So, when his country's swimmers were being accused of doping earlier this year, one Chinese official cooked up something fast. He blamed it on contaminated noodles. In fact, he argued, it could have been a culinary conspiracy concocted by criminals, whose actions led to the cooking wine used to prepare the noodles being laced with a banned heart drug that found its way into an athlete's system. This theory was spelled out to international anti-doping officials during a meeting and, after weeks of wrangling, finally made it into the thousands of pages of data handed over to the lawyer who investigated the case involving 23 Chinese swimmers who had tested positive for that same drug. The attorney, appointed by the World Anti-Doping Agency, refused to consider that scenario as he sifted through the evidence. In spelling out his reasoning, lawyer Eric Cottier paid heed to the half-baked nature of the theory. People are also reading... "The Investigator considers this scenario, which he has described in the conditional tense, to be possible, no less, no more," Cottier wrote. Even without the contaminated-noodles theory, Cottier found problems with the way WADA and the Chinese handled the case but ultimately determined WADA had acted reasonably in not appealing China's conclusion that its athletes had been inadvertently contaminated. Critics of the way the China case was handled can't help but wonder if a wider exploration of the noodle theory, details of which were discovered by The Associated Press via notes and emails from after the meeting where it was delivered, might have lent a different flavor to Cottier's conclusions. "There are more story twists to the ways the Chinese explain the TMZ case than a James Bond movie," said Rob Koehler, the director general of the advocacy group Global Athlete. "And all of it is complete fiction." Something in the kitchen was contaminated In April, reporting from the New York Times and the German broadcaster ARD revealed that the 23 Chinese swimmers had tested positive for the banned heart medication trimetazidine, also known as TMZ. China's anti-doping agency determined the athletes had been contaminated, and so, did not sanction them. WADA accepted that explanation, did not press the case further, and China was never made to deliver a public notice about the "no-fault findings," as is often seen in similar cases. The stock explanation for the contamination was that traces of TMZ were found in the kitchen of a hotel where the swimmers were staying. In his 58-page report, Cottier relayed some suspicions about the feasibility of that chain of events — noting that WADA's chief scientist "saw no other solution than to accept it, even if he continued to have doubts about the reality of contamination as described by the Chinese authorities." But without evidence to support pursuing the case, and with the chance of winning an appeal at almost nil, Cottier determined WADA's "decision not to appeal appears indisputably reasonable." But how did the drugs get into the kitchen? A mystery remained: How did those traces of TMZ get into the kitchen? Shortly after the doping positives were revealed, the Institute of National Anti-Doping Organizations held a meeting on April 30 where it heard from the leader of China's agency, Li Zhiquan. Li's presentation was mostly filled with the same talking points that have been delivered throughout the saga — that the positive tests resulted from contamination from the kitchen. But he expanded on one way the kitchen might have become contaminated, harkening to another case in China involving a low-level TMZ positive. A pharmaceutical factory, he explained, had used industrial alcohol in the distillation process for producing TMZ. The industrial alcohol laced with the drug "then entered the market through illegal channels," he said. The alcohol "was re-used by the perpetrators to process and produce cooking wine, which is an important seasoning used locally to make beef noodles," Li said. "The contaminated beef noodles were consumed by that athlete, resulting in an extremely low concentration of TMZ in the positive sample. "The wrongdoers involved have been brought to justice." New information sent to WADA ... eventually This new information raised eyebrows among the anti-doping leaders listening to Li's report. So much so that over the next month, several emails ensued to make sure the details about the noodles and wine made their way to WADA lawyers, who could then pass it onto Cottier. Eventually, Li did pass on the information to WADA general counsel Ross Wenzel and, just to be sure, one of the anti-doping leaders forwarded it, as well, according to the emails seen by the AP. All this came with Li's request that the noodles story be kept confidential. Turns out, it made it into Cottier's report, though he took the information with a grain of salt. "Indeed, giving it more attention would have required it to be documented, then scientifically verified and validated," he wrote. Neither Wenzel nor officials at the Chinese anti-doping agency returned messages from AP asking about the noodles conspiracy and the other athlete who Li suggested had been contaminated by them. Meanwhile, 11 of the swimmers who originally tested positive competed at the Paris Games earlier this year in a meet held under the cloud of the Chinese doping case. Though WADA considers the case closed, Koehler and others point to situations like this as one of many reasons that an investigation by someone other than Cottier, who was hired by WADA, is still needed. "It gives the appearance that people are just making things up as they go along on this, and hoping the story just goes away," Koehler said. "Which clearly it has not." Be the first to know Get local news delivered to your inbox!
Shopping on Temu can feel like playing an arcade game. Instead of using a joystick-controlled claw to grab a toy, visitors to the online marketplace maneuver their computer mouses or cellphone screens to browse colorful gadgets, accessories and trinkets with prices that look too good to refuse. A pop-up spinning wheel offers the chance to win a coupon. Rotating captions warn that a less than $2 camouflage print balaclava and a $1.23 skeleton hand back scratcher are “Almost sold out.” A flame symbol indicates a $9.69 plush cat print hoodie is selling fast. A timed-down selection of discounted items adds to the sense of urgency. Pages from the Shein website, left, and from the Temu site, right. Welcome to the new online world of impulse buying, a place of guilty pleasures where the selection is vast, every day is Cyber Monday, and an instant dopamine hit is always just a click away. By all accounts, we’re living in an accelerating age for consumerism, one that Temu, which is owned by the Chinese e-commerce company PDD Holdings, and Shein, its fierce rival , supercharged with social media savvy and an interminable assortment of cheap goods, most shipped directly from merchants in China based on real-time demand. The business models of the two platforms, coupled with avalanches of digital or influencer advertising, have enabled them to give Western retailers a run for their money this holiday shopping season. A Christmas tree ornament purchased on Temu. Software company Salesforce said it expects roughly one in five online purchases in the U.S., the United Kingdom, Australia and Canada to be made through four online marketplaces based or founded in Asia: Shein, Temu, TikTok Shop — the e-commerce arm of video-sharing platform TikTok — and AliExpress. Analysts with Salesforce said they are expected to pull in roughly $160 billion in global sales outside of China. Most of the sales will go to Temu and Shein, a privately held company which is thought to lead the worldwide fast fashion market in revenue. Lisa Xiaoli Neville, a nonprofit manager who lives in Los Angeles, is sold on Shein. The bedroom of her home is stocked with jeans, shoes, press-on nails and other items from the ultra-fast fashion retailer, all of which she amassed after getting on the platform to buy a $2 pair of earrings she saw in a Facebook ad. Neville, 46, estimates she spends at least $75 a month on products from Shein. A $2 eggshell opener, a portable apple peeler and an apple corer, both costing less than $5, are among the quirky, single-use kitchen tools taking up drawer space. She acknowledges she doesn’t need them because she “doesn’t even cook like that.” Plus, she’s allergic to apples. “I won’t eat apples. It will kill me,” Neville said, laughing. “But I still want the coring thing.” Shein, now based in Singapore, uses some of the same web design features as Temu’s, such as pop-up coupons and ads, to persuade shoppers to keep clicking, but it appears a bit more restrained in its approach. Shein primarily targets young women through partnerships with social media influencers. Searching the company's name on video platforms turns up creators promoting Shein's Black Friday sales event and displaying the dozens of of trendy clothes and accessories they got for comparatively little money. But the Shein-focused content also includes videos of TikTokers saying they're embarrassed to admit they shopped there and critics lashing out at fans for not taking into account the environmental harms or potential labor abuses associated with products that are churned out and shipped worldwide at a speedy pace. Neville has already picked out holiday gifts for family and friends from the site. Most of the products in her online cart cost under $10, including graphic T-shirts she intends to buy for her son and jeans and loafers for her daughter. All told, she plans to spend about $200 on gifts, significantly less than $500 she used to shell out at other stores in prior years. “The visuals just make you want to spend more money,” she said, referring to the clothes on Shein's site. “They're very cheap and everything is just so cute.” Unlike Shein, Temu's appeal cuts across age groups and gender. The platform is the world’s second most-visited online shopping site, software company Similarweb reported in September. Customers go there looking for practical items like doormats and silly products like a whiskey flask shaped like a vintage cellphone from the 1990s. Temu advertised Black Friday bargains for some items at upwards of 70% off the recommended retail price. Making a purchase can quickly result in receiving dozens of emails offering free giveaways. The caveat: customers have to buy more products. Despite their rise, Temu and Shein have proven particularly ripe for pushback. Last year, a coalition of unnamed brands and organizations launched a campaign to oppose Shein in Washington. U.S. lawmakers also have raised the possibility that Temu is allowing goods made with forced labor to enter the country. More recently, the Biden administration put forward rules that would crack down on a trade rule known as the de minimis exception, which has allowed a lot of cheap products to come into the U.S. duty-free. President-elect Donald Trump is expected to slap high tariffs on goods from China, a move that would likely raise prices across the retail world. Both Shein and Temu have set up warehouses in the U.S. to speed up delivery times and help them better compete with Amazon, which is trying to erode their price advantage through a new storefront that also ships products directly from China. 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The Soo Greyhounds make a midweek trip to Saginaw for a Wednesday night game against the Spirit. Full updates will be available throughout the gameNEW YORK , Nov. 22, 2024 /PRNewswire/ -- On the year of their 125 th year Anniversary, The E-J Group continues to expand to meet their client's needs by strengthening their presence in the Northeast. E-J has acquired State Electric Corporation. State Electric, located in Bedford, Massachusetts , has been in business since 1988 and is one of the most respected and trusted full-service electrical contractors in New England. The depth of experience and expertise, particularly in healthcare, life science, commercial, sports & entertainment, transportation, power and renewable energy, transmission, distribution and substation work, will only enhance the services offered to our clients. The E-J Group looks forward to providing their clients with additional experience, expertise, and innovative solutions to this area of the Northeast for the reliable, fast-track project delivery they are accustomed to. "We are pleased to welcome State Electric to the E-J Family," says Anthony E. Mann , CEO of the E-J Group. "State's culture of safety first, innovative solutions align with E-J's and makes for an ideal new member of the organization." "All our divisions operate under the same philosophy, safety first while delivering the best quality workmanship, utilizing prefabrication and lean construction solutions. We share the same client focused approach of doing business," states Ronnie Koning , President of State Electric Corp. "Being part of the E-J Group provides more opportunities for our employees and strengthens what we offer to our clients." State Electric will retain its name and cultural identity, with its current leadership continuing in their respective roles. Ronnie Koning will remain as President, reporting to E-J's EVP, Dave Ferguson . Brendan Dickie will continue as COO, and Jane Wu will maintain her position as Controller. Their collective expertise will remain instrumental to the organization's ongoing success. E-J has thrived and survived the test of time by emerging into nearly a $1 billion national electrical company with great financial strength, national clients, project diversity, and a company culture that is founded on Safety First. E-J currently has 15 offices in 5 states across the country in New York , New Jersey , Connecticut , Rhode Island , Arizona , and now Massachusetts . About E-J: The E-J Group is active in all facets of electrical contracting - we are not your typical electrical contractor. We bring experience, expertise and a national reputation on projects that vary in size to over $300 million . Typical installations include rail systems, transit facilities, office buildings, hospitals, power, renewable and clean energy, co-generation facilities, roadway and outdoor specialty, airports, industrial facilities, universities, sport stadiums, extra high voltage distribution, utility, and gas infrastructure. At E-J, four family generations of practical expertise have created an organization keyed to the most modern technological advances in providing rapid and efficient solutions to today's lighting, power, energy, and communication needs. E-J has a 125-year reputation for unparalleled integrity, quality, and service in the electrical field. Please visit our website at www.ej1899.com to learn more about the company. About State Electric Corporation: State Electric Corporation is a leading full-service electrical contractor in the Northeast. Since 1988, State Electric has been a trusted partner of owner's construction managers, utilities, low voltage integrators, and other business partners around the region. While working in partnership with clients, State continually executes the most complex and high-profile electrical construction projects on time and on budget. Headquartered in Bedford, Massachusetts , with a satellite office in Braintree , State Electric is a signatory contractor to the IBEW. Contact: Katie Nilsen , VP Business Development & Strategy – E-J Group 917-807-9496 View original content to download multimedia: https://www.prnewswire.com/news-releases/the-e-j-group-welcomes-state-electric-corporation-to-the-organization-302314568.html SOURCE E-J Electric Installation Co.