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Foreign institutional investors record net outflows of funds in August


Taipei, Sep 10 (CNA) Foreign institutional investors saw net outflows of funds for the third consecutive month in August, according to the Financial Supervisory Commission (FSC), Taiwan’s top financial regulator.

Data compiled by the FSC showed that foreign institutional investors recorded net outflows of $5.45 billion in August, bringing total net outflows to $13.07 billion or NT$401.2 billion. during the June-August period.

The sharp outflows were attributed to the widening interest rate differential between Taiwan and the United States, and FSC officials said any decision by the US Federal Reserve to adjust its monetary policy will dictate without no doubt the movements of funds in the world.

Since the Fed launched a rate-hike cycle in March to address soaring inflation, foreign institutional investors have seen $11.58 billion in net outflows of funds from March to April, before to pass to the other side by registering a slight net inflow of funds worth almost 2.7 dollars. billion in May.

Rising rates, inflation

However, foreign institutional investors saw net outflows of funds again in June and acted more aggressively in the following two months, according to the FSC.

Since March, the Fed has raised its key interest rates by 225 basis points, while the central bank of Taiwan has only raised interest rates by 37.5%.

Taiwan’s central bank argued that although the local consumer price index topped the 2% alert, inflation rates were still dwarfed by those seen in the United States.

In August, Taiwan’s CPI rose 3.36% from a year earlier in July before moderating to 2.66% in August.

Meanwhile, CPI growth in the United States was 8.5% in July, down from 9.1% in June.

US inflation data for August is expected to be released next week.

The market widely anticipated that the Fed would hike rates another 75 basis points after the conclusion of a policy-making meeting on Sept. 21.

Meanwhile, Taiwan’s central bank is expected to raise rates by 12.5 to 25 basis points at its quarterly policymaking meeting scheduled for September 22.

In the first eight months of this year, foreign institutional investors recorded net outflows of $16.7 billion. During the same period, the Taiex, the weighted index of the Taiwan Stock Exchange, plunged 3,213.40 points, or 17.14%.

Since the government lifted the ban on foreign institutional investment in the local stock exchange in late 1990, foreign institutional investors have accumulated 212.86 billion U.S. dollars in net inflow of funds into Taiwan in August, data shows. of the FSC.

From January to August, foreign institutional investors sold NT$1 trillion net in the local equity market as they rushed to put their money into dollar-denominated assets due to rising market yields American, said the FSC.

The FSC said the sharp selloff was the result of volatility in global markets, but added the commission was confident foreign investors would refocus on Taiwan’s sound longer-term fundamentals.

Related News

September 9: BERI ranks Taiwan 6th among global investment destinations

September 7: The US dollar hits its highest level in 3 years on the Taipei foreign exchange market

September 6: Foreign exchange reserves continue to fall after central bank intervention in the market

Recent Trading Sessions

September 8: Taiwan shares close up 1.20%

September 7: Taiwan shares fall 1.89% as bad news hits TSMC

September 6: Taiwan stocks lose first gains amid hawkish Fed fears

September 5: Taiwan stocks end slightly lower in consolidation mode

September 2: Taiwan stocks extend losses on concerns over US rate hikes

September 1: Taiwan stocks fall nearly 300 points after US losses

August 31 : Taiwan stocks end above 15,000 as tech sector rebounds

Credit card code that would allow financial institutions to flag unusually large gun sales approved


A credit card categorization code that could improve tracking of gun sales has been approved by an international panel that sets standards for the payments industry, according to New York City Comptroller Brad Lander and Amalgamated Bank.

The International Organization for Standardization, based in Geneva, Switzerland, has approved the bank’s request for a merchant category code for arms and ammunition stores to be used when processing transactions, according to news releases. Amalgamated and Lander press. A merchant category code is a four-digit number used by credit card companies to classify businesses. It usually indicates the types of services or goods sold to consumers.

The group’s decision came after a pressure campaign from officials at Amalgamated, New York City and state, as well as the California teachers’ pension fund. The city’s pensions for teachers, civil servants and school administrators last week filed shareholder proposals with Mastercard Inc. and American Express Co. urging credit card companies to create the new code.

The California Teachers’ Retirement System sent similar letters to Mastercard, American Express and Visa Inc.

Creating the new code would be a key step in allowing financial institutions to flag unusually large purchases at stores over a short period of time or multiple purchases at different retailers, Lander said. In his role, he is an investment advisor to New York City’s $250 billion pension fund.

“I am pleased that ISO has voted to advance a key step to avert the next tragedy,” Lander said in a press release. “American Express, Mastercard, Visa and other credit card companies are now responsible for implementing the new Merchant Category Code, so financial institutions can do their part to report suspicious activity and save lives. .”

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The high cost of living is not unique to Ghana – Dr Bawumia


The Vice President, Dr. Mahamudu Bawumia, said the rising cost of living was not a Ghana specific phenomenon but a global one.

He attributes the situation to the COVID-19 pandemic and the Russian-Ukrainian war.

“The cost of living has increased all over the world. Wherever it’s hot, the city is hot, and it’s not just Ghana. The same goes for the UK, America, Japan and Germany.

Dr Bawumia, addressing a rally at Kadjebi in Oti region to commission the 56.4 kilometer (km) Jasikan-Dodo Pepesu section of the Eastern Corridor Road, said the Director General of the International Monetary Fund (IMF) has attested to the fact that the pandemic and the war and its effects have caused Ghana’s problems.

“So you see we in the midst of this pandemic are doing everything to keep the economy going.”

Dr Bawumia said one thing the government had done for Ghanaians and people in the Oti region was to ensure that they had free secondary education for all to ease their burden.

He said the government was digitizing and changing the future of Ghana’s economy which would be one of the most digitized economies in the world.

Dr Bawumia said the Year of Roads was not a ‘Green Book’ but ‘Fili fili roads’, adding that ‘we have never seen roads built and completed by a government as much as we have. We have seen under the government of Nana Addo Dankwa Akufo-Addo and the leadership of Kwasi Amoako-Atta as Minister of Roads and Highways.

He said that the Jasikan-Dodo Pepesu road is part of the Eastern Corridor road project which started from the Tema highway interchange with a component of the construction of the 67 km road from Tema to Akosombo with interchanges in Ashaiman and Akuse.

Dr Bawumia said this included the reconstruction of the Asikuma to Kpeve junction which was 40% complete, 53.5km Have to Hohoe which was 60% complete and 30km Hohoe to Jasikan which was 80% complete.

He said the section also has 50.3 km from Nkwanta with Oti Damanko to Kpassa being 50% complete, 94 km from Oti Damanko to Yendi which is 97% complete and 113 km from Yendi to Gbintiri which is 85% complete. , adding that the government was working on almost all sections of the east. Corridor road.

Dr. Bawumia said 8 road lots are currently in various stages of completion under the first phase of the Sinohydro road project.

He said the government had completed 109 km of trunk roads under the authority of the Ghana Highway Authority in the Volta and Oti regions since 2017, including the upgrading of 21 km of the Nkonya Wurupong road. in Kwamikrom.

Dr. Bawumia said that under urban roads, a total of 31 km of roads had been completed during the same period, such as asphalt surfacing of 14.7 km in Hohoe while 27.5 km of roads have been rehabilitated in the category of feeder roads.

Mr. Kwasi Amoako-Atta, Minister of Roads and Highways, said the ministry, through the Ghana Highways Authority, will ensure that adequate provision is made in its annual budget to meet the maintenance roads built are taken year after year.

He said the maintenance was necessary to protect the huge investment made by the government.

Mr. Amoako-Atta urged all beneficiary communities to protect their roads and road furniture.

He urged them to refrain from cutting through their roads, establishing wash bays along the roads, damaging traffic signs and avoiding dumping construction materials on the roads.

Mr Amoako-Atta instructed city and district managers to make sure people adhere to road maintenance measures and cracked the whip on the culprits.

He asked religious and traditional leaders not to entertain culprits and unpatriotic citizens who engaged in activities to damage roads.

Mr. Amoako-Atta commended Sinohydro Corporation Limited for doing a great job.

Oti Regional Minister Dr Joshua Makubu said the contractor working on Jasikan Road to Worawora, Nkwanta Road to Dambai and Dambai Township Road had given assurances to resume work.

He expressed his gratitude to the government for the road infrastructure in the Oti region and its commitment to infrastructure development and the humanity of the region.

Source: GNA

Ken Griffin sets record with $109 million Miami home purchase


Finance kingpin Ken Griffin has been revealed as the most expensive residential real estate transfer buyer in Miami history.

The Citadel boss – who recently announced the move of his crime-ridden Chicago business to Miami – bought the four-acre resort in Coconut Grove for $106,875,000 last week, according to the real deal.

The lavish beachfront spread was put on the market by businesswoman and philanthropist Adrienne Arsht for $150 million in January.

As Palm Beach’s hot real estate market has seen its nine-figure share of transfers, Griffin’s purchase marks the first time a Miami property has crossed the threshold.

The city’s previous sales record was $93 million for three adjacent homes bought by tech titan Phil Ragon earlier this year.

Arsht said she plans to donate the proceeds from the sale to charity.

“As manager of this beautiful property, I am proud to leave its legacy to future generations. guardians,” she said in a statement. “May they also enjoy the breathtaking view!”

Citadel CEO Ken Griffen has been revealed as the buyer of a $109 million Miami home.
REUTERS/Mike Blake
Businesswoman and philanthropist Adrienne Arsht put the mansion up for sale in January for $150 million.
Businesswoman and philanthropist Adrienne Arsht put the mansion up for sale in January for $150 million.
Photo by Patrick McMullan/PMC via Getty Images

Griffin has gobbled up South Florida properties for hundreds of millions of dollars in recent years.

After issuing several warnings to Chicago city leaders about spiraling crime, Griffin announced Citadel’s move to Miami in June.

According to Bloomberg, he is worth and is estimated at $29 billion.

Griffin’s latest trophy consists of two homes totaling 25,000 square feet.

Overlooking Biscayne Bay, the property features over 400 feet of water frontage and views of the Miami skyline.

Ashley Cusack of Berkshire Hathaway HomeServices EWM Realty brokered the deal.

Non-fungible cash and financial risk


Someone decided to give Zoltan Pozsar a hard time during the catastrophic announcement of the structure of the Treasury market.

Bank of America strategist Ralph Axel published an article on Wednesday saying the risk of liquidity problems in the $23 billion Treasury market – which has relatively standardized securities – is “the greatest systemic financial risk today. ‘today’. To the extent that the post-GFC reforms have all but eliminated the default risk of major global US banks, we suspect Axel might be right.

To support his case, he cites a July 2021 article from the Group of 30, which appears to be a non-profit organization funded by the financial industry and should not be confused with the Groups of 20 or 10. Axel also points out that Primary dealers are making a smaller share of Treasury trades even as this market has grown, a trend that has been covered here and elsewhere, at length, for years:

On a more interesting note, he argues that the relative decline in volumes happened after the financial crisis, but before the imposition of capital requirements. Banks have always been keen to blame these regulations for the (relative) withdrawal of their primary trader weapons in the Treasury market making business:

Clearly, a regime shift occurred immediately after the Great Financial Crisis – even before Dodd-Frank and Basel III came into force – during which primary dealer trading fell sharply from baseline. size of the market and have only declined since then. While Dodd-Frank and Basel III are generally blamed for this, it is important to note that it started long before the change in capital regulations.

Axel describes the Armageddon that would occur “if the Treasury market fails to trade for a while.” We won’t go too far here, because it is difficult to imagine why such a blockage would occur, unless there was an all-out strike by the primary dealers (which would surely have disastrous consequences for the primary dealers) or some sort of geopolitical crisis catastrophe or nuclear attack (which would have disastrous consequences for everyone).

Regardless of the likelihood of such an event, we agree that it would not be good for the Treasury market to go haywire for more than a few weeks, or to completely freeze for any significant period of time.

So Axel calls on a “dealer of last resort”, a position that Alphaville’s friend Zoltan has already entrusted to the Federal Reserve, to deal with this risk:

A dealer of last resort could have a number of different structures that we think could work. The most sensible would be a government sponsored enterprise (GSE) with a utility type structure. Such a GSE could be capitalized by banks and insurance companies (as FHLB is capitalized) and perhaps other institutions like clearinghouses, brokers, etc., and partly capitalized by the government. GSE capital expenditures could be offset by relaxing specific capital requirements in the banking system, for example by removing cash and treasury bills from all capital measures. In this way, the banks’ total capital (including the capital held in the GSE) would effectively remain unchanged but would be redistributed and would not create a new burden on the banking system.

Other structures are possible, but imply that the banking system comes together to capitalize an entity that would ensure the continuity of the markets in the most severe stress scenarios. The incentive for banks to do so would be 1) capital relief in other areas, 2) profit sharing with taxpayers in ongoing operations (buying in distressed markets is historically rewarding), 3) reducing the tail risks in their own market-making or market-facing businesses, 4) reducing the tail risk that market disruption might have on consumers who conduct the banking business. Like other GSEs, the concessionaire of last resort would be regulated by existing federal agencies, report regularly to Congress, and provide a social good.

We just need Congress to be proactive and create one! Easy, right?

Axel follows with a much less ambitious request to reduce the size of the Treasury market. And he doesn’t mean that in a fiscally responsible way. Rather, he argues that the problem could be solved by making it easier to substitute different Treasury securities for each other in accounting rules and other regulations:

Today, each bill, note and bond is treated as a separate item for accounting and risk. This is unnecessary, in our view, and leads to significantly reduced liquidity and broker capacity. One way to reduce the size of the Treasury market is to allow the fungibility of Treasury issues. This would allow for significant position netting and allow the dealer community to regain some of the buffer role it played before the 2008 crisis. If loans and short-term loans with close maturities could be treated as the same risk for accounting purposes, this would effectively make the Treasury market much smaller relative to venture capital. We think this could be set up in addition to a reseller of last resort to put the threat of major market disruptions behind us.

Forget non-fungible tokens: the future is in ultra-fungible Treasuries.

Leading healthcare supply provider in Saudi Arabia


MADRID, Spain and WALL, NJ, Sept. 07, 2022 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions with Identity-Bound Biometrics (IBB), today announced that its business EMEA (Europe, Middle East and Africa) (formerly Swivel Secure Europe) has deployed AuthControl Sentry for one of Saudi Arabia’s leading healthcare supply providers in Riyadh, Saudi Arabia. The authentication solution will protect approximately 15,000 employee and vendor users with secure multi-factor access (MFA) with single sign-on (SSO) capabilities for all of its web and legacy applications. The client is the largest, value-driven, centralized sourcing, re-exporting, warehousing and distribution of pharmaceuticals, medical equipment and medical supplies company in the Kingdom of Saudi Arabia.

The goal of this project was to centralize all web and legal applications into a unified portal to provide employees and vendors across the Middle East with secure access to applications. Using the AuthControl Sentry solution will reduce password reset requests by removing the need for authentication for four or five different applications typically required to send a pharmaceutical or medical package through a courier.

“We are proud to help streamline the procurement process for one of the largest and most trusted suppliers to hospitals, clinics and pharmacies in Saudi Arabia and the Middle East. Secure and reliable authentication is essential for delivering urgent medication to patients in need. the time and friction in the authentication process can improve health service delivery and even save lives. For example, authentication for four popular software applications that previously took an average of four minutes has been reduced to just one minute with our AuthControl Sentry solution. saves time and increases the productivity and reliability of healthcare supply processes,” said Alex Rocha, Managing Director, BIO-key EMEA.

About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in delivering authentication technologies for thousands of organizations and millions of users and is revolutionizing authentication with multi-factor Identity and Access Management (IAM) solutions focused on biometrics, including its PortalGuard IAM solution that provides security and secure access to high-value devices, information, applications and transactions. BIO-key’s patented software and hardware solutions with state-of-the-art biometric capabilities enable large-scale on-premises and cloud-based Identity-as-a-Service (IDaaS) solutions and customized enterprise solutions. Swivel Secure Europe, SA, is a 100% owned BIO-key IAM solutions provider based in Madrid, Spain, serving the European, Middle Eastern and African markets.

BIO-key Safe Harbor Statement
All statements in this press release other than statements of historical fact are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate”, “project”, “intend”, “expect”, “anticipate”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are made based on the beliefs of management, as well as assumptions made by management and information currently available to it pursuant to the “safe harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included in or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, our limited loss and revenue history; our ability to raise additional capital; our ability to protect our intellectual property; changes in trading conditions; changes in our sales strategy and product development plans; market changes; the continued services of our senior management team; security failures; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, people and the geographic markets in which we operate; delays in product development and statements of assumptions underlying any of the above and other factors set forth under “Risk Factors” in our Annual Report on Form 10-K for fiscal year ended December 31, 2021 and others filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to disclose any revisions to these forward-looking statements. forward-looking statements, whether as a result of new information, future events or otherwise. In addition, there may be other factors not currently known to the Company that may affect the matters addressed in the forward-looking statements and may also cause actual results to differ. materially from those discussed, in particular the consequences of the coronavirus outbreak on economic conditions and the industry generally and the financial condition and operations The results of our Company, in particular, have been significant, are changing rapidly and do not can be predicted.

Engage with BIO-key:
Facebook – Company: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Company: https://www.linkedin.com/company/bio-key-international
Twitter – Company: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR

BIO-key media contact:
Erin Knapp
Communication of the subject
[email protected]

Investor contacts:
William Jones David Collins
IR catalyst
[email protected]

Boots launches budget range as UK shoppers ease cost of living crisis | Boots


Boots has launched a new budget brand which includes toiletries such as shampoo, body wash and toothpaste for less than £1 as the worsening cost of living crisis forces UK shoppers to cut even the essential items.

The high street health and beauty chain said it had created the new ‘everyday’ brand to make it easier for customers to find the cheapest toiletries on its shelves as the cost of life continues to increase.

Jenna Whittingham-Ward, head of beauty for Boots brands and exclusives, said the economy brand would allow customers to make “small daily changes to help save money” while leaving them “clean and looking their best.” feel good”.

“At a time when many people are faced with choices between heating and eating, and when we are all preparing for a winter that feels more felt than ever, we offer an uncompromising range to help customers,” she said. .

As UK inflation tops 10% for the first time in 40 years, driven by soaring food and fuel prices, Boots said shoppers were looking for deals and promotions.

Everything in the 60-product range will cost £1.50 or less, including large bottles of shampoo and conditioner for 75p and vintage products from 70p. The range also includes toothbrushes, cleaning wipes and hand soap.

Retailers are being forced to adapt to tough times as retail sales data shows shoppers are cutting back on spending and switching to cheaper own brand products.

Boots has already frozen the price of more than 1,500 products until at least the end of the year to ensure they remain affordable for customers.

In May, Asda launched the ‘Just Essentials’ food brand aimed at shoppers facing pressure on their household finances, with the supermarket recently reporting that one in three shoppers regularly buy the label.

Boots said the budget mango and papaya shampoo and 85p raspberry and pomegranate ‘zingy’ shower gel would not disappoint, with Whittingham-Ward saying it had stayed true to its tagline, ” if there are boots on it, he did our best”.

Makeup sales often thrive in tough economic times, as small luxuries become a way for cash-strapped consumers to indulge themselves. This idea is known as the “lipstick effect” and Boots said she sees evidence of the trend, with overall beauty sales up 14% from last year and a demand for perfumes up by almost a fifth.

“Beauty sales at Boots continue to rise, suggesting that customers still want to treat themselves to new makeup, fragrance or skincare, despite cost of living pressures,” said Seb James, Director General of Boots UK.

“During the last recession, we experienced two things: one, the ‘lipstick effect’, i.e. the willingness to keep buying small treats, and two, the increase spending on own brands and promotions,” he added. “These trends are back, with 500,000 new registrations for our Advantage card [Boots’ loyalty scheme] within six months – the highest number of new entrants in some time.

BWTS service and support is “a vital factor” for the reliability of vessel operations, says Optimarin


“Service is the backbone of the ballast water treatment industry and is vital to the smooth operation of vessels,” says Optimarin’s Vice President of Services, Arild Stølen.

Installing a well-functioning Ballast Water Treatment System (BWTS) on board has become a hot issue after commissioning tests became mandatory from 1 June this year under the rules of IMO.

These tests, which require sampling of ballast water at the discharge line after treatment by the system to ensure that it meets the so-called D-2 standard, are necessary to obtain an international ballast water management certificate. .

And that document will essentially be an operating license once the IMO’s Ballast Water Management Convention comes into force from September 2024, according to Stølen.

Additionally, testing is also mandatory with an additional commissioning survey after a major change, replacement or repair of the BWTS to achieve full compliance with the D-2 standard.

Risk of non-compliance

“It’s one thing to install a compliant system and quite another to have it working properly wherever a ship is ballasting, including in ports with variable water quality,” says Stølen. .

“To date, few vessels have operated their BWTS consistently over time. Therefore, a system may not perform properly or as expected for several reasons, which may result in non-compliance. »

So what are the key factors to mitigate non-compliance risk and ensure maximum BWTS availability to minimize costly outages and delays at ports? “It’s all about system reliability and consistent support through a global service network,” he explains.

Norwegian ballast water treatment specialist Optimarin, a pioneer in this sector with approximately 1400 systems sold to date worldwide, has recognized this need by establishing a global network of service partners with dedicated engineers trained by BWTS and specialized in maintenance of its systems.

Global Service Network

This service network truly spans the globe with locations in the United States, Brazil, United Kingdom, Norway, Germany, Spain, Netherlands, Romania, United Arab Emirates, China, Japan, South Korea, Singapore and Taiwan.

Additionally, the company has training centers in Norway, Manila and Mumbai with a full-scale BWTS as part of the Optimarin Academy to train the crew to ensure the system operates safely. and efficient on board.

Specialized certified engineers are readily available to provide round-the-clock support to Optimarin customers, wherever a vessel is and whenever help is needed.

This underpins the company’s service-oriented approach and good communication with customers, which means 24/7 availability to provide a quick response, combined with a comprehensive warranty program that gives customer peace of mind throughout the life cycle of BWTS.

Fast parts delivery

Optimarin has a centralized service center at the head office in Stavanger, Norway, which maintains regular dialogue with customers to provide after-sales support.

The center manages the worldwide distribution of spare parts, with satellite warehouses in several locations outside of Norway to allow faster response time for parts shipments, and coordinates service and commissioning work to be carried out by Optimarin engineers worldwide.

The so-called Optimarin ballast system is based on a simple and reliable design with few moving parts and a self-cleaning UV chamber combined with self-rinsing filters, thus requiring minimal maintenance and guaranteeing operational reliability.

The system uses standardized components for all throughput configurations and all UV spare parts can be used for any capacity of the system, allowing for simple supply and logistics, especially for large fleet operators, with easy access to spare parts such as UV lamps and filter elements.

Additionally, the component-based system’s modular design makes it highly configurable and flexible for different vessel configurations and easy on-board installation.

Digital support

Optimarin has recently enhanced its service offering with OptiLink™, a cloud-based digital solution for BWTS monitoring and management that enables 24/7 remote support and over-the-air software updates so that the system continues to operate effectively.

“A service is no longer an option with a BWTS but an essential factor in keeping your fleet compliant and on track. You will not be able to operate efficiently without it,” concludes Stølen.

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Small business association warns 2023 budget must tackle cost of doing business in Ireland General, Ireland, news for Ireland, Ireland,


The Small Firms Association (SFA) today released a report which looks at the cost of doing business in 2022 for the Irish small business community.

The report finds that the total average cost of doing business for all small (20-49 employees) micro (less than 10 employees) businesses is €138,814 per month. The average for micro enterprises is €66,426 and €193,535 for small enterprises. On average, labor costs represent 82% of the company’s total monthly costs. Bank and other charges (5.6%) come second, followed by transportation/insurance (5.1%), all property charges (4.9%) and all utility charges (2. 4%).

Additionally, half (52%) of all businesses with less than 50 employees currently manage debt. Bank loans (63%), other financing loans (28%) and tax debt (22%) are the three main forms of corporate debt.

The average debt for micro and small enterprises is €80,903, the lowest for micro enterprises at €56,774 and the highest for small enterprises at €107,149. The report finds that rising business costs are the biggest challenge facing small businesses.

For small businesses with rental or lease costs, more than half (55%) either had a rent increase or were approached by their landlord about a need for a rent increase. Small businesses are under pressure to increase employee wages (56%), provide additional employee benefits (26%) and more support for remote work (18%).

In Budget 2023, the SFA is calling for measures to support staff retention and development to help small businesses survive these difficult times. The association wants capital gains tax to be reduced to 20% and the lifetime cap of CGT Entrepreneur Relief to be raised to €15 million and increased investment in digitalisation, business practices. he circular economy and energy security enable the transition to a green economy.

Speaking at the launch of the report, SFA Director Sven Spollen-Behrens said: “Irish micro and small businesses face cost challenges across all areas of business, whether covers labour, transportation, insurance, banking and utilities. Many operate with a low margin. environments, making it difficult for them to absorb cost increases and the demand for value making it impossible for many to pass on the increase to customers. »

He added: “At a time of high inflation and relentlessly rising input prices, especially energy prices, the SFA is concerned that this could lead to the closure of viable businesses due to their inability to absorb rising trade costs. To avoid this and protect our national businesses, Budget 2023 must provide cost certainty and maintain competitiveness. »

Source: www.businessworld.ie

Madison Board of Education Approves Strategic Plan – The Madison Record


MADISON — The Madison Board of Education has approved the district’s strategic plan, the result of months of feedback from teachers, staff, parents, students and residents from surveys, work sessions and meetings.

Dr. Ed Nichols, superintendent of schools in Madison City, said the plan sets goals for the next five years in the areas of academics, special services, operations and facilities, communications, support services, technology, and faculty and personnel.

In great detail, the 28-page document explains the tools, assigned personnel, and action items for the goals. For each action item, the document indicates the timeline for implementation, the MCS employee as responsible, the data marker for sources such as a survey or a report written by the employee, and the date when the school board will receive an update.

* Academics – Emphasis will be placed on student success; academic and extracurricular activities; and quality professional development.

One of the academics’ tasks is to consider extending elementary “specials” to 30 minutes per week and year-round for Spanish, Music, Art and STEM. Teachers will promote dual enrollment opportunities with local community colleges for academics or industrial sites for professional skills.

* Special Services – This area will focus on quality professional development for teachers of students with disabilities. The district will confirm consistency of programs, services and supports for students with disabilities and the staff who support and teach them.

In addition, MCS will expand its ability to support learner instruction in English.

* Operations and Facilities – Documents required financial strength to always grow and fund the needs of students, faculty and staff. District employees should consider sources of funding, extended day provisions, summer school fees, and ongoing tax revenue.

This section indicates that the capital plan will include items with security priorities over $50,000. The school’s budget or maintenance budget will include needs less than $50,000.

* Communications – The district can expand and improve stakeholder participation in various initiatives. MCS should organize leadership teams, release an annual stakeholder survey, pursue Teacher of the Year and Staff Member of the Year, and identify expectations for school and district recognition.

* Support Services – Continue to study the growing mental health needs of students by providing high quality training and lessons to all stakeholders. Action steps will include adding a platform for K-12 students to support mental health.

In addition, teachers will continue training instructions in “first aid” for the mental health of young people. Administrators will monitor the Academy and the placement of students with non-traditional needs.

* Technology – MCS will increase its cybersecurity presence to protect data sources and build a more secure infrastructure for the district. The district wants to replace outdated hardware, including servers, computers, access points, switches, routers, and other outdated technology solutions.

MCS will provide a device (computer) to all students, as well as increased support.

* Faculty/Staff – The district is committed to hiring top quality employees using consistent procedures. Related needs are assessing the salary scale, reviewing the interview process, and identifying creative ways to achieve certification.

To view the strategic plan, visit madisoncity.k12.al.us. Click on the “District” drop-down menu, then click on “Strategic Plan”.

Biden’s student loan debt forgiveness is outrageous


President Joe Biden’s student loan forgiveness program isn’t just bad policy, it’s bad policy, which I guess is good for my side of the aisle.

Biden, on his own, “forgave” $10,000 in federal student loan debt and $20,000 for students who received Pell grants, for anyone earning less than $125,000. Sounds nice and generous, doesn’t it? It’s not. This is both very unfair to the majority of Americans and probably not legal.

It appears President Biden has embraced his former boss’s theory that “we’re not just going to wait for legislation…I’ve got a pen and I’ve got a phone.” —Barack Obama, 2014

Sorry, guys, you’re supposed to “wait for the legislation”. This is how the US government is supposed to work. Congress is supposed to hamper your actions if they don’t like your ideas. This little thing called the Constitution is packed full of rules that the three branches of government check each other, so that no one becomes too powerful. It seems that over the past two decades, this concept has been kicked out with an all-too-often-used stroke of the pen. Yes, Trump misused his pen too. They all lately.

More from Alicia Preston Xanthopoulos:Standing with our Maine friends against a New York snob

Moreover, the debt is not “forgiven”, the person who does not repay it has just transferred it to the taxpayers. This is the unfair part. Imagine being a family that saved and sacrificed for 18 years to send their child to college, and now you have to pay for someone else’s child’s education? Twenty million of them? What about the student who worked full time during the day and went to night school, paying his own fees all the time? Now this person has to pay the student who partied every night and took his spring break in Cancun? Imagine being a hard-working plumber earning $65,000 a year and being told you have to pay for the higher law degree earning $124,000 a year?

What about those who went to college on the GI Bill? These students had to pay back their education by doing things like serving in combat zones in Afghanistan and Iraq. Many have sacrificed their body and their spirit. Some their life. This is how they paid their debt for a college degree. Now they, and the families of those who made the greatest sacrifice, must shoulder the financial responsibility of a 22-year-old graduate in “Memeology” from the University of Texas at Austin (real degree), as they still suffer the consequences of the war? It’s not unfair, it’s outrageous.

All of this is what Biden’s “quill stroke” just did.

More from Alicia Preston Xanthopoulos:For the 1st time — probably the last — I agree with Nancy Pelosi

We absolutely have a higher education problem in this country. To begin with, it costs way too much. On average, over the past 30 years, tuition has outpaced inflation by nearly double. That’s almost 200% above inflation. It’s obscene. Why? Probably because colleges and universities have figured out that if someone can get a student loan, backed by the federal government, they can charge whatever they want and do things like buy a table for the dining room that costs $17,000, like UNH did a few years ago. They can just pass it on through tuition because everyone has a student loan.

Why are they allowed to get away with this? Because students and their parents did not pay attention when they enrolled them in school and in a student loan program. Knowing that they could afford tuition, people stopped paying attention to what they could actually afford, even through loans, and did not consider tuition when choosing a school. For too many people, it’s just free money they’ll worry about later. Then later they realized that a 1st century Venetian art degree wouldn’t get you a job that would pay off the loan you took on.

More from Alicia Preston Xanthopoulos:I am in conflict over the exchange of prisoners with Russia

That’s the other thing, why are degrees like “Leisure Studies” (Southern Illinois University) and “Pop Culture” (Bowling Green University) even offered, let alone enrolled? Because for four decades we’ve been telling high school students, you need a four-year degree. Not everyone does. How many of us have had difficulty finding a plumber, electrician or other skilled worker when we need one? There is a known shortage in New Hampshire of people working in the trades. For reasons I don’t understand, we’ve downplayed the value of trading jobs and ignored the very good income you can earn working there. There are 25-year-old plumbers who own their own house, have no school debt, and earn more than the 32-year-old with a degree in “puppet arts” (University of Connecticut), but this guy has to repay his student loan?

Of course, there is also the problem of predatory loans. Student loan rates can reach 13.95%. It should be illegal.

So, as someone with a senior in high school, I agree, we have a problem with the cost of higher education. The answer is certainly not to perpetuate the problem, by erasing part of the debt. He tells universities to keep buying $17,000 dining tables, a $40,000 eSports arena for video games, and many other ways colleges and universities waste your money…now, thanks to Joe Biden, your tax money. He says to people who have worked hard to get a job or pay for their education, your efforts don’t count, why did you bother? He tells students to keep taking loans they can’t afford to repay because they’re getting degrees in a field that only 46% of them will actually work in because a money fairy will forgive him a day.

As to why this is politically an issue, as I mentioned at the start? Less than half of the country agrees with this “forgiveness program”. Why ? Just read above.

Alicia Preston Xanthopoulos is a former political consultant and member of the media. She is originally from Hampton Beach where she lives with her family and three poodles. Email him at [email protected]

Xometry is the industry’s top winner, while Zim sinks to review the loser tag


shaunl/E+ via Getty Images

The week ending September 2 saw marginal gains, with the exception of Xometry (in this segment) which led the winners, as the broader market saw red. Meanwhile, ZIM extended their losses and once again took the top spot.

The sp 500 saw losses for the third consecutive week (-3.22%), the 11 sectors being in the red. Since the start of the year, the SPDR S&P 500 Trust ETF (TO SPY) is -17.42%. The Select Industrial Sector SPDR (XLI) also fell for the third consecutive week (-3.52%). Since the beginning of the year, XLI is –12.90%.

The top five gainers in the industrials sector (stocks with a market capitalization of over $2 billion) all gained more than +1% everyone this week. However, since the beginning of the year, only one of these five titles is in the green.

Xometry (NASDAQ: XMTR) +13.30%. Shares of the Derwood, Md.-based company rose throughout the week except Aug. 31 (-4.05%). Xometry, which provides a market for manufactured goods, is the only stock among the top five gainers this week, which is in the YTD green, +2.24%. The SA quantitative rating on stocks is Hold, which takes into account factors such as valuation and profitability, among other things. The rating contrasts with the average buy rating from Wall Street analysts, in which 3 out of 8 analysts rate it as a strong buy.

Ryanair (RYAAY) +4.30%. The Ireland-based airline’s August traffic hit a record high with 16.9 million passengers. Since the beginning of the year, RYAAY has paid -28.89% the most among this week’s top five gaienrs. The SA quantitative rating on the stock is Buy, with profitability having a factor rating of B+, while valuation has a factor rating of B-. The average Wall Street analyst rating indicates that RYAAY is a Strong Buy, in which 4 out of 4 analysts give the stock a Strong Buy rating.

The chart below shows the year-to-date price-yield performance of the five worst declines and XLI:

LPN (LPN) +3.49%. The Westchester, Ill.-based market operator for used cars may have posted minor gains this week, but year-to-date the stock has fallen -26.23%. The SA quantitative rating on the stock is Hold, with profitability carrying a factor rating of B+ and growth with an F score. The average Wall Street analyst rating differs and labels IAA as Strong Buy, where 5 out of 8 analysts consider the stock a Strong Buy.

ZTO Express (Caymans) (ZTO) +2.61%. The Chinese logistics service provider has an average Strong Buy rating from Wall Street analysts, with an average price target of $36.17, with 16 out of 22 analysts considering it a Strong Buy. Quantitative SA rating on ZTO is Buy, with valuation having a factor rating of D+ and growth with a score of B. Year-to-date, the shares have fallen -5.77%.

GFL Environment (GFL) +1.52%. The Canadian company has an average buy rating from Wall Street analysts, with 8 out of 14 analysts labeling the stock as long. The rating contrasts with Hold’s quantitative SA rating, with profitability carrying a factor rating of B+ and valuation with a factor rating of F. Year-to-date, the stock has fallen -24.17%.

This week’s top five declines among industrial stocks (market cap over $2 billion) all lost more than -11% each. Since the start of the year, four out of five of these stocks have been in the red.

ZIM Integrated Shipping Services (NYSE: ZIM) -16.37%. The Israeli shipping company was the first to decline for the second week in a row, after going ex-dividend on August 26, and has been declining throughout this week. Investors appear to have shifted lower to higher on container stock as shipping rates may be heading for a slowdown. Since the beginning of the year, ZIM has paid -41.68% and was among the five worst declines in June. Earlier in the week, ZIM signed a 10-year deal with Shell worth over $1 billion to supply 10 liquefied natural gas-powered ships.

The SA quantitative rating on the stock is Hold, with a valuation having a factor rating of A+ but growth with a factor rating of F. The average Wall Street analyst rating agrees and marks the stock like Hold, where 5 out of 7 analysts see it. like Hold.

AeroVironment (AVAV) -14.63%. Shares of the Arlington, Va.-based drone maker also fell throughout the week amid a tough week for the broader market. AVAV, however, was among the top five gainers two weeks ago and was among the top five performing industry stocks (in this segment) in the first half (+32.90%). Since the beginning of the year, AVAV has won +33.66%the only title among this week’s five worst that is in the green for this period.

The SA quantitative rating on the stock is Hold, with Valuation and Growth both carrying a D factor rating. The average Wall Street analyst rating differs, labeling AVAV as Buy, where 2 out of 6 analysts consider it a Strong Buy.

The chart below shows the year-to-date price-yield performance of the five worst declines and XLI:

Enovix (ENVX) -13.68%. The Fremont, Calif.-based battery maker pared gains made last week when it was the top earner. The stock has seen some major ups and downs – having posted gains following its quarterly results, but traded places in the top five gainers and losers since then. Since the beginning of the year, ENVX has lost -28.78%. The average Wall Street analyst rating on ENVX is Strong Buy, in which 5 out of 6 analysts rate the stock as a Strong Buy. The SA Quant rating matches its own Strong Buy rating, with Growth having a factor rating of B+ and Momentum with an A+ rating.

Nikola (NKLA) -12.17%. The stock declined throughout the week and returned to the bottom five performers after three weeks. Earlier this week, the Phoenix-based electric vehicle maker unveiled an exchange offer to buy all outstanding shares of Romeo Power, following the August 1 acquisition announcement, a week when the action had won.

NKLA was among the five worst industrial stocks (in this segment) in the first half (-51.82%) and the #1 decline in Q2 and June. Since the beginning of the year, the title has fallen -46.61%, the most among the five worst performers this week. The SA quantitative rating and the average Wall Street analyst rating agree, with a Hold rating on NKLA.

Spirit AeroSystems (SPR) -11.38%. The Wichita, Kansas-based aerodefense company also saw its shares tumble throughout the week. Since the beginning of the year, the title has fallen -33.16%. The SA quantitative rating on the stock is Strong Sell, with Profitability having a D+ factor rating and Growth with an F score. The average Wall Street analyst rating differs completely with a Strong Buy rating, in which 8 out of 14 analysts identify it. as a strong buy.

$400 million Shaquille O’Neal’s dodgy TV show cost him $500,000 in damages alone!


Legendary Los Angeles Lakers center Shaquille O’Neal made terrible trade decision and lost half a million dollars

Shaquille O’Neal is a lovely big man. Since retiring from the NBA, the legendary center has followed a career trajectory that may have propelled him to even more famous heights.

The Inside the NBA host topped the league as a player. At 7’1″, well over 300 pounds, meeting him on the court was definitely scary.

It moved like a freight train aiming for the jugular. Agile but ruthlessly strong and precise. Once an unstoppable force, Shaq is no longer an athlete.

In fact, his playing days were well over in 2010. He should never have played that last season with the Boston Celtics. Not only did he average just 9.2 points and 4.8 rebounds per game, but he also played with the perennial rivals the Lakers.

But his decision to join the 17-championship-winning team wasn’t the only bad one. In fact, he was at least making money with the Celts. But a bad decision cost the Great Aristotle dearly.

Also Read: LeBron James’ $97 Million Puts Him Way Above Shaquille O’Neal’s $400 Million, Here’s Why

Shaquille O’Neal lost half a million dollars from an apparently stolen show

Shaq is a perfectionist. He is someone who seeks challenges and likes to learn something new every day. He is an NBA legend, TV host, actor, Sherrif and DJ, and holds a doctorate in education.

Pretty cool for a guy who started his professional career smashing blackboards and competing with big men.

But even the best of the best have their own mistakes. They can’t always be perfect. For example, take the time that Alex Rodriguez thought it was a good idea to date Jennifer Lopez.

In Shaq’s case, luckily he didn’t date a megastar who married his ex. In Shaq’s case, he went overboard and made a show go wrong.

The show in question, “Shaq Vs.”, came out in 2009. O’Neal, then 36, was a member of the Phoenix Suns team. His fading ability and aging body were clearly apparent. And though he made it to All-Stars, he was never himself again.

The premise of the show was that the $400 million Shaq would compete with other sports stars but with certain disabilities.

The show was only canceled after two seasons with the final episode featuring Justin Beiber and Jimmy Kimmel. Not to question Shaq, but these two aren’t even athletes, so the premise of the show falls apart.

However, the unsuccessful show was not only a failed fire but also caused O’Neal money. An author named Todd Gallagher alleged that ‘Shaq Vs.’ was stolen from his book “Andy Roddick Beat Me with a Frying Pan”.

Todd and the creators reached an out-of-court settlement and the author won $500,000. The studio also named Todd a producer on several episodes. What do you think? Did Shaq actually steal the idea from Todd?

Also Read: The $60 Million Pistons Star Hated Playing With 40-Year-Old Michael Jordan on Wizards

FMCG Stock at New 52-Week High Sets Record Date for 250% Dividend


With a market value of Rs. 45,471.98 crore, Patanjali Foods Ltd. is a large-cap company that operates in the Fast Moving Consumer Goods (FMCG) industry. Shares of Patanjali Foods Limited hit a new 52-week high on Friday from 1,266 then closed with a bullish gap of 4.50% at 1,259.95 each. On the trading day, the total stock volume was 1,282,012 shares, which is well below the 20-day average volume of 351,933 shares.

The company’s board of directors had recommended a dividend of 5 per share or 250% at a par value of Rs. 2 per share for the financial year ended 31 March 2022. For this purpose, the record date has been announced by the Board of Directors to determine the eligibility of shareholders to the payment of the dividend. According to available BSE data, September 23, 2022 has been set as the ex-dividend date for dividend purposes, so potential investors are suggested to buy the stock before the ex-ex-date due to T trading regulations. + 2.

The board said in a regulatory filing that “pursuant to Regulation 42 of the SEBI (Registration and Disclosure Requirements) Regulations, 2015, the company’s register of members and share transfer books will remain closed. from Tuesday September 27, 2022 to Thursday September 29, 2022 (both days inclusive) for the purposes of payment of the dividend for the 2021-22 financial year, if declared at the AGM. determine the right of the members of the Company to receive the dividend is Monday, September 26, 2022.”

On Wednesday, Patanjali Foods Limited (formerly Ruchi Soya Industries Limited) announced the construction of a palm oil factory in Niglok industrial growth hub, East Siang district, Arunachal Pradesh. “In Arunachal Pradesh state, we are planning to undertake an oil palm plantation in an area of ​​38,000 ha spread over 9 districts. We have already established 2 nurseries in Pasighat and Holangi and are in the process of establishing 3 more nurseries in Lower Siang district in Kherram, FTC and Dipa. This will give a boost to the economy of the state and bring huge job creation as well as increased income for local farmers,” said the company in an official press release.

“Patanajali Foods has engaged with the government’s NMEO-OP program and factory to undertake large-scale cultivation of oil palm plantations over an area of ​​5 lakh ha in India; of which 3.2 lakh hectare will be in the North East region. Patnajali’s NE Oil Palm program will greatly benefit the state’s economy over the next 30 years, major benefits include: average annual production of around 7.5 lakh MT of palm oil, cost saving ‘about Rs. 10,500 crore in foreign exchange outflows every year and job creation for almost 5.8 lakh people,’ the company said in a regulatory filing.

The stock had hit a 52-week low of 1,021.00 on (25-Jul-22) and at the current market price the stock is trading 23.40% above the low.

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Some Alabama dispensaries are hesitant to apply for medical marijuana licenses


HUNTSVILLE, Ala. (WHNT) – While some dispensary companies are eager to apply for a medical marijuana license, others are not. With heavy financial regulations, some CBD companies are considering providing the alternative.

With the option of paying a $40,000 annual fee regulated by the Alabama Medical Cannabis Commission (AMCC) to maintain a license to sell medical marijuana, some CBD dispensaries are a little hesitant to complete an application.

“We’re a little reluctant to jump in just because of the $2,500 application fee which is non-refundable whether or not you get the license, as well as the license fee and annual renewal fee,” Jason said. Rodgers, a budtender at The Green Lady CBD Dispensary.

Even with the need for medical marijuana suppliers, some local businesses do not have the financial means to bear the costs.

“Once you get approval, you’ll have to move on, you’ll have to have the infrastructure to set up a store to grow medical marijuana and then distribute it properly,” Rodgers explained.

Another factor that local businesses take into consideration is the sustainability of selling medical marijuana. If they don’t have enough people to buy the product, they won’t have the money to cover the cost of the sale, which could create other financial burdens.

Companies like RX Connections jumped on the demand for an integrated license. If approved, it could cost $50,000 a year.

“I think the state here very wisely decided not to give these licenses to the rich and powerful, but to give them to people who have the financial means to undertake something so expensive and so complicated. than that,” Troy said. King, attorney for RX Connections and former attorney general of Alabama.

King says the company understands the financial responsibility and strength it takes to maintain a supply for those who need it.

“It’s medical care for people with very serious chronic conditions and chronic pain that people can’t get relief from,” King said. “It’s going to provide an alternative that Alabama people can’t get right now.”

“It’s not going to be easy at all for anyone to get medical marijuana or grow it and sell it,” Rodgers concluded.

According to the SMAC website, only those who submit a “business application request” will receive a business application form. These forms will be given to anyone who requests them on October 24th.

The SMAC also put a cap on the number of licenses for dispensaries in the state. This limit is maintained at four.

Stay ahead of the biggest stories, breaking news and weather in Mobile, Pensacola and the Gulf Coast and Alabama. Download the WKRG News 5 news app and make sure to enable push alerts.

Ultragenyx Stock: Downward Trajectory Likely to Continue (NASDAQ: RARE)


cturtletrax/iStock via Getty Images

This is my first look at Ultragenyx Pharmaceuticals (NASDAQ: RARE), a small biotech with a long name and an active business. Its specific niche of orphan and ultra-orphan diseases presents additional challenges for the company and its shareholders, as I will discuss below.

Ultragenyx has significant reliable sources of income

The initial challenge presented by Ultragenyx is to understand its area of ​​specialization. The following excerpt from the company profile describing its therapies is illustrative:

  1. Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia;
  2. Mepsevii [VESTRONIDASE ALFA]enzyme replacement therapy for the treatment of children and adults with mucopolysaccharidosis VII [Sly Syndrome] and;
  3. Dojolvi [UX007/TRIHEPTANOIN] for the treatment of long chain fatty acid oxidation disorders [LC-FAOD]…

The FDA first approved Mepsevii in 11/2017. Fewer than 100 cases have been reported in the United States; the worldwide prevalence is estimated at ~1:250,000 births. The FDA awarded it a Priority Review Voucher for Rare Pediatric Diseases [PRV]which he quickly sold to Novartis (NVS) for $130 million.

Shortly after, Crysvita was first approved by the FDA in 04/2018 to treat X-linked hypophosphatemia [XLH]. XLH is a rare (prevalence ~1:20,000) inherited form of rickets for which vitamin D therapy is ineffective. In his latest 10-Q, he estimates that there are around 48,000 XLH patients in the developed world.

Later in 06/2022, the FDA approved Crysvita to treat tumor-induced osteomalacia [TIO]. TIO is exceptionally rare. One article notes that approximately 1,000 cases of TIO have been reported worldwide. Its extreme rarity contributes to the likelihood of misdiagnosis.

The FDA approved Dojolvi for the treatment of LC-FAOD in 06/2020. Ultragenyx estimates that it affects between 2,000 and 3,500 people in the United States.

Ultranyx 10-Q Q2 2022 lists the following disaggregated revenue over its 3 and 6 month periods ending 06/30/2021 and 2022:

Ultragenyx Disaggregated Revenues


Ultragenyx’s interest in Crysvita (KRN23) grew out of a 2013 collaboration with Kyowa Hakko Kirin Co., Ltd. (OTCPK: KYKOY) to develop and commercialize KRN23. At the time, Kyowa Hakko Kirin was completing a Phase 1/2 study in adults with XLH in the United States and Canada.

During its second quarter 2022 earnings call (the “Call”), CCO Harris indicated that Crysvita’s revenue to date gives it confidence to guide Crysvita’s full-year 2022 revenue from $250 million to $260 million. dollars in the territories of Ultragenyx. He further confirmed earlier forecasts of $55-65 million in Dojolvi revenue. He offered no guidance to Mepsevii.

Ultragenyx’s expenses far exceed his income.

Ultragenyx’s balance between revenue from customers and operating expenses is unfortunately skewed. Its quarterly expenses are shown below:



Ultragenyx Operating Expenses by Q2, 2022 10-Q


A simple glance shows how its handsome quarterly revenue of around $89 million mentioned above is totally dwarfed by operating expenses of around $231 million. All three expense categories soared in Q2 2022 compared to Q2 2021, cost of sales around 164%, R&D around 36%, general and administrative expenses around 28%. In total, expenditure increased by approximately 36%.

You can’t go to the grocery store without lamenting inflation; the problem seems to have hit Ultragenyx with extra force. CFO Dier’s presentation on the call provides helpful insight into the expected shape of future spending, although it does not provide guidance on spending.

She noted:

… 2022 is a peak year for us, as we have launched several late-stage clinical programs under license from Evkeeza [Evinacumab-dgnb] completed the acquisition of [GeneTx] and complete the construction of our gene therapy manufacturing facility.

In 2023, we do not anticipate any additional one-time events of this nature or significant capital expenditures and expect general and administrative expenses to decrease from 2022 as we transfer US and Canadian commercialization responsibilities from Crysvita to KKC .

We will continue to invest in our clinical and preclinical programs, as indicated, and the overall net effect across the business will then be a decrease in net cash burn.

The referenced Evkeeza license refers to its agreement dated 01/2022 with Regeneron (REGN) to develop, commercialize and clinically distribute Evkeeza (evinacumab-dgnb) in the United States. The deal was for $30 million upfront with $63 million in milestones.

The acquisition of GeneTx refers to the initial $75 million exercise by Ultragenyx in 07/2022 of its option to acquire its partner GeneTx; GeneTx has just published encouraging interim data from its Phase 1/2 open-label, dose-escalating study of GTX-102 for the treatment of Angelman syndrome [AS].

During the call, there were a variety of questions showing great interest in the AS program. CEO Kakkis did not mince words in expressing his support for this program. He said Ultragenyx was “all in” on it. He enthused:

…the excellent data we have seen in the Phase I/II study to date. It is rare to see a significant improvement in developmental function as we have seen recently. This is something I haven’t seen in 30 years of drug development.

Ultragenyx has a big pipeline and strong liquidity to build it.

Ultragenyx lists its programs in its second quarter 2022 results presentation as follows:

Ultragenyx Pipeline


Its four late-stage molecules include its setrusumab (UX143), UX111 (ABO-102), DTX401 and DTX301. Setrusumab is the subject of two studies with estimated completion dates of 2026, so it may be some time before it becomes a revenue driver. DTX301 is also a study whose completion dates suggest it is more likely to be a revenue driver in the medium term than in the short term.

With the estimated primary completion of 04/2023 and the estimated study completion date of 04/2024 for its Phase 3, DTX401 is likely to be a shorter-term factor. As for UX111, during the call, CEO Kakkis hinted that an early filing was possible “based on compelling biomarker data.”

Ultragenyx’s clinical milestone slide (below) from its Q2 2022 presentation shows no clear near-term revenue opportunity:

Ultragenyx Catalysts


Regarding the cash with which to grow his extensive pipeline, CFO Dier said the following on the call:

We ended the quarter with approximately $706 million in cash, cash equivalents and marketable securities. Subsequent to quarter-end, in July, we raised $500 million in dilutive non-crowd capital through dilutive non-crowd capital transactions with OMERS Capital Markets for the sale of a portion of our North American Crysvita royalty .

…We are well capitalized with over $1 billion in the bank and we are making operational decisions to phase out spending on our development programs and slow headcount growth in order to manage our consumption.


Ultragenyx appears to be a well-run biotech with a viable plan and proven expertise in its chosen niche of rare and ultra-rare disease therapies. Its chart below illustrates its current appeal to investors:

RARE data by YCharts

For Ultragenyx to be more powerful, it needs fuel. For Ultragenyx, the most powerful fuel is new approvals. Its pipeline has no current compelling catalysts. The only molecule looking to offer new revenue opportunities is its ex-US rights to Evkeeza. The slide below from Ultragenyx’s Q2 2022 earnings presentation gives a sense of the opportunity here:

Evkeeza Opportunity


Frustratingly, Ultragenyx barely mentions Evkeeza during the call; certainly, it offers no indication of Evkeeza’s earnings. It is difficult to anticipate that Evkeeza will be able to generate sufficient revenue outside of the United States to make a difference for Ultragenyx anytime soon.

As a result, I view Ultragenyx as likely to generate lackluster trade over the next few years. In a difficult market, I expect its trajectory to continue its pessimistic trajectory.

The Treasury prepares emergency options on the cost of living for the next Prime Minister | UK cost of living crisis


The Treasury is working on a menu of options to tackle Britain’s cost of living crisis ahead of an emergency mini-budget set to take place within two weeks if Liz Truss replaces Boris Johnson as deputy Prime Minister.

With opinion polls and bookmakers’ odds showing Truss the clear favorite to move into 10 Downing Street next week, officials are drawing up plans that would see the new government move quickly on bills and longer-term energy market reforms.

Truss said she wanted to announce a package by the end of September, but Parliament will go into recess on September 22 for the party’s conference season. That would leave the Chancellor, who is expected to be Kwasi Kwarteng, just over a fortnight to choose from a range of measures.

The Treasury admits the £15billion support package announced by Rishi Sunak in May will be insufficient given the subsequent increase in the cap on average household energy bills and the likelihood of a further large increase in January. He’s picked up signals from Camp Truss that she intends to do more to help households facing soaring gas and electric bills this winter.

The new Chancellor will receive a detailed briefing which will include forecasts for the cap, the likely impact on bills, the impact on different groups of households and ways to target support.

The mini-package of measures would include reductions in national insurance contributions, the scrapping of planned increases in corporation tax and the temporary abolition of green levies on energy bills – all of which figured prominently in the Truss campaign – along with further action deemed necessary in view of the 80% increase in the energy price cap to over £3,500 due on October 1. Truss’ tax liabilities alone cost £30bn.

Sources said the civil service was considering the proposals of the two Tory leadership candidates, with the government machine ready to respond “very quickly” once the new prime minister was chosen.

Options will be to make the program announced by Sunak in May more generous and more narrowly focused on low-income households. Choices also include changes to Universal Credit and a scheme proposed by Stephen Fitzpatrick, the director of Ovo, Britain’s third-largest energy supplier, that would lower household energy bills for limited use. Under this plan, energy consumption above a certain level would be charged at a higher price; Fitzpatrick said the program would channel support to poorer consumers because higher-income households typically used more energy.

The need for speed will likely mean that a full budget will be drafted for later in the fall, by which time the Independent Office for Budget Responsibility will be ready with new forecasts for the economy and public finances.

The date for the emergency budget has not yet been set, but September 21 has been mooted. If Truss wins the leadership race, she would return from New York that day after attending a meeting of the United Nations General Assembly.

Kwarteng, currently business secretary, has recently been in close contact with UK energy companies and has been looking for ways to address some of the structural problems in UK wholesale energy markets. Two possible reforms have been launched by the Chancellor, Nadhim Zahawi.

Energy regulator Ofgem announced this month that it is changing its price cap methodology to allow suppliers to recoup wholesale energy hedging costs sooner – a move that will add several hundreds of pounds to bills to prevent energy suppliers from going bankrupt.

Zahawi said he was working with the Bank of England to “provide better liquidity in the wholesale energy market”, which could help lower the price cap by £400-500.

Kwarteng is believed to be backing this initiative and a separate plan that would involve renegotiating contracts with some renewable energy providers to reflect the fact that their profit margins have soared during the crisis.

Some industry observers have suggested renegotiating existing “revolving bond certificates” for nuclear power plants, wind farms and biomass projects in favor of contracts for difference, which would reduce prices and provide stable income for long term to electricity producers. Industry body Energy UK said such a proposal could reduce energy bills for homes and businesses.

In an interview with Sky, Zahawi said he was considering the option of a deal with companies developing power from other sources, such as renewables, for “a voluntary contract for difference… at a lower price”, but said it would be “not ready”. until next winter. Zahawi said: “There are no easy options. It’s the only thing we know.

Boris Johnson defends his record as Prime Minister and Covid lockdowns


Boris Johnson said the NHS would be ‘in an even worse position’ if the UK government hadn’t implemented lockdowns throughout the coronavirus pandemic, in a strong defense of his three-year term as prime minister .

In his final speech, Johnson defended his record as prime minister on Thursday, saying he had not ‘escaped the big decisions’ on issues such as climate change or social care, as he announced a £700 million financing for the Sizewell C. nuclear power station in Suffolk, England.

Asked about his handling of the pandemic, which is the subject of a public inquiry, Johnson said the health service would have been “overwhelmed” without action to reduce the spread of Covid-19.

“People are now saying too much lockdown has caused the current problems in the NHS,” he told reporters. “I’m afraid to say the opposite is the case, in that if we hadn’t locked down, the problems we are facing now in the NHS would be even worse.”

Rishi Sunak, a Conservative leadership candidate and former chancellor, was sharply critical of the government’s handling of the pandemic this month. He told The Spectator magazine that too little consideration was given to trade-offs when deciding to lock down, including the effect on children.

Johnson’s successor, to be announced next week after voting closes in the Conservative leadership race on Friday, will face a beleaguered health service.

In addition to widespread vacancies in the health and social care sector, around 6.7 million people are waiting for non-emergency hospital treatment – the highest number in NHS history.

As well as defending his case, Johnson confirmed the government would invest £700m to take a 20% stake in French energy group EDF’s new nuclear project at Sizewell on England’s east coast – on a stipend existing £1.7bn deal made last year. .

Johnson, who has made cutting the UK’s carbon emissions and improving energy independence a priority during his tenure, issued a warning to his colleagues, including Tory leader Liz Truss, regarding the restart of hydraulic fracturing.

He said while he was “not at all intellectually or morally opposed to it”, it was “doubtful” that extracting shale gas would be easy and would not cause environmental damage unlike energy cheap wind turbine.

During the latest leadership contest roundups on Wednesday, Truss said she would ease the cost of living crisis by reducing the tax burden and increasing the national energy supply.

But she declined to outline specific additional measures she would implement as Prime Minister, saying: ‘I don’t sort things in and out. . . I’m not sitting here writing a budget or a tax event.

Johnson also warned on Thursday that soaring energy bills would mean “a very difficult winter” for households, but said his successor would be able to add to the government’s existing £37billion support package.

Johnson said he was “proud” of his administration’s work, adding that it has continuously taken a long-term approach to policy issues.

“At every stage of the last three years, what we have tried to do is put in the things that this country will need in the long term, to try to see what future generations will need for their prosperity, for their productivity and quality of life.”

How ESG-linked lending helps hold companies accountable


Virtue can bring rewards, as more and more businesses are discovering when applying for a loan. Some banks offer rebates to borrowers if they meet targets for reducing pollution, reducing food waste, or even helping job seekers. To give the incentives some teeth, there are penalties for missed goals. Global issuance of loans linked to borrowers’ environmental, social and governance performance jumped to nearly $500 billion in 2021, from $4.9 billion in 2017 when the first such agreement was created, the companies looking for options to present themselves as socially responsible.

1. How do loans work?

The agreements are set up like normal loans or revolving credit facilities, often with a group of banks providing funds to the borrower. Traditional loans are priced against a benchmark rate used in interbank lending, such as Euribor or the Secured Overnight Funding Rate (SOFR), and borrowers pay a premium, or spread, in plus the reference rate, depending on factors such as credit ratings and the transaction. length. A sustainability-linked loan has an additional twist, discount or spread penalty that depends on the borrower achieving specific ESG goals. For example, the interest rate of a loan can be 100 basis points above Euribor and can be adjusted according to the ESG performance of the borrower.

A loan can be tied to an overall ESG score or to specific sustainability goals called key performance indicators. KPIs can be quite varied, as long as both parties agree on the goals. Turkish lender Akbank TAS secured a $660 million loan in April 2022 with pricing tied to the amount of energy from renewable resources and progress in renewing expiring plastic credit cards with recycled cards. An infrastructure loan for Rubis Terminal Infra SAS which was in syndication in August included as objectives the reduction of its carbon intensity, waste and work accidents. Telefonica SA modified its main facility in January 2022 to commit to reducing carbon emissions and increasing the number of women in management positions. If a borrower is looking to link their performance to an overall ESG rating, they can obtain scores or ratings from a company that independently assesses ESG standards.

3. Is the idea making headway?

Since their inception in 2017, sustainability-linked lending, or SLL, has become the second-largest and fastest-growing segment of ESG debt instruments, and the idea has spread to other parties. of the credit market, in particular bonds and the Schuldschein. The sustainability-linked structure has been widely adopted by the bond and Schuldschein market, posting record sales in 2021.

4. How important are ESG incentives?

It’s hard to know for sure because the market is still developing and borrowers don’t always reveal the details of their loans. It is still possible to get an idea. Turkey’s Yapi ve Kredi Bankasi AS can potentially cut a 240 basis point spread for dollar borrowing by up to 3 basis points, while pulp and paper producer Asia Pacific Resources International Ltd. negotiated a discount of up to 5 basis points on a spread of 200 basis points. interest rate in basis points.

5. What other forms can they take?

In the United States, where most corporate revolving facilities are undrawn, borrowers like HP Inc. have agreed to impose the sustainability price adjustment on commitment fees paid on undrawn amounts. In recent years, there have been instances where borrowers waive discounts and will only be penalized if targets are not met. And some borrowers have pledged to use any savings from rebates for ESG projects. Similarly, some lenders have also contributed ESG pricing adjustment profits to sustainable causes.

6. What about lenders?

The main benefit for banks could be customer retention and a clearer view of companies’ extra-financial performance, such as diversity and workplace safety. Many ESG-indexed loans were traded as replacements for older maturing facilities, meaning borrowers could have sought a deal elsewhere. Loans can also help reduce banks’ risk exposures, as companies with strong ESG policies tend to have a good track record of profitability and debt repayment.

7. What about regulations?

Regulators and policymakers are pushing banks to pay more attention to the environmental and social impact of transactions. This has led more than 270 banks representing more than 45% of banking assets worldwide to adopt responsible banking principles developed with the United Nations. Europe has led the way in this area, helping to make it by far the largest region for ESG-related lending.

8. What challenges does the market face?

As with other efforts to link environmental and social objectives to financing, such as green bonds, a big challenge for ESG-linked lending is to ensure that transactions actually have a positive impact, and to prove it. In an attempt to prevent the sector from becoming a mere marketing tool for lenders and borrowers, the three major global lending associations have developed a framework for the agreements. The main criteria are that borrowers are transparent in their corporate social responsibility strategy; set more ambitious goals than they have already achieved; and that their actions are evaluated by independent evaluators. Even then, there is a lack of agreement on how to objectively assess corporate social responsibility. The European Commission adopted in April 2022 technical standards to be used by financial market participants when disclosing sustainability information.

9. How do loans fit into the wider ESG financial market?

There is a plethora of green and socially responsible financing options, and the variety is constantly growing. Green bonds make up the largest portion of the sustainable finance market at over $600 billion for all of 2021, according to BloombergNEF. ESG-related lending has been the fastest growing part of the entire ESG financial sector, albeit from a much lower starting point. The main differences between the two products include how the money can be used and the price. Green bond funds must be spent on projects designed to be environmentally friendly. Prices are also set for sale, with no potential discounts or penalties. Sustainability-linked loans offer much more flexibility as there is no need to use the funds only for investments directly related to achieving the ESG objective. Any pricing incentive is purely based on whether the borrower hits or misses the target.

10. What are the latest developments?

The SLL market is still evolving, with innovations such as “dormant” transactions where ESG objectives or metrics are only disclosed at a later date during a loan agreement. This “dormant” SLL has raised questions about eligibility to be classified as an ESG debt. Meanwhile, the German Schuldschein market has developed a so-called ESG gateway giving companies time to build their ESG reporting, which can potentially be included in financing agreements. Borrowers will be penalized if ESG reporting deadlines are not met, and the instrument is designed for companies that want to commit to a sustainability framework but are not yet ready to have debt-related targets.

More stories like this are available at bloomberg.com

TikoMed’s ILB® mobilizes and modulates key growth factors that trigger a cascade of neuroprotective mechanisms capable of targeting all diseases mediated by neuroinflammation, including ALS


VIKEN, Sweden, August 31, 2022 /PRNewswire/ — TikoMed, a biopharmaceutical company focused on harnessing the medical potential of the body’s ability to self-repair and regenerate, today announced the publication in Frontiers in Phamacology of peer-reviewed research peers supporting the unique broad-spectrum mechanism of action of TikoMed ILB® Neuroprotective Drug Platform. In multiple preclinical and clinical studies involving a variety of neuroinflammation-induced diseases, the low molecular weight dextran sulfate compound has both mobilized and modulated natural tissue repair mechanisms and restored homeostasis and function. cells by releasing heparin-binding growth factors. TikoMed believes this approach to enhancing the body’s self-repair and regenerative abilities has the potential to transform current cell and gene therapy paradigms.

“These studies show that ILB® releases, redistributes and modulates the bioactivity of endogenous heparin-binding growth factors that target disease-compromised nerve tissue to initiate a cascade of transcriptional, metabolic and immunological effects that play a key role in controlling glutamate toxicity, normalizing tissue bioenergetics and resolving inflammation to improve tissue function.ILB®’s unique mechanism of action supports the treatment potential of various acute and chronic neurodegenerative diseases, including sTBI and ALS”, said Ann Logan, scientific director at Axolotl Consulting and professor of regenerative medicine at the University of Warwick.

In summary, the studies have provided evidence that ILB® has a profound therapeutic effect on the molecular and cellular dysfunctions underlying neurodegenerative diseases. Gene expression analysis demonstrated substantial similarities in functional dysregulation induced by severe traumatic brain injury (sTBI) and various human neurodegenerative conditions, including ALS. Changes in gene expression after ILB® treatment supported a beneficial cascading effect of ILB® on growth factor activation, resulting in the observed therapeutic effect. The transcriptional signature after ILB® treatment is relevant to cell survival, inflammation, glutamate signaling, metabolism and synaptogenesis, and is consistent with the activation of neuroprotective growth factors. The ability of ILB® to elevate circulating levels of heparin-binding growth factors in animal models and humans also supports its neuroprotective and regenerative effects in vivo.

ILB® is currently being developed both as a therapeutic and as an enabling technology for advanced therapies, and this peer-reviewed research indicates even broader potential. We have initiated development programs for amyotrophic lateral sclerosis (ALS), traumatic brain injury (TBI) and islet cell transplantation and will now consider broader use in a wider range of diseases,” said Anders KristenssonCEO of TikoMed.

Contact: [email protected] or +46 42 23 84 40


International: Richard Hayhurst [email protected] or +44 7711 821527

Nordics: Ola Bjorkman [email protected] or +46 70 245 7497

This information was brought to you by Cision http://news.cision.com



Lower costs and strong revenues boost HF Group’s half-year net profit to 50 million shillings



Lower costs and strong revenues boost HF Group’s half-year net profit to 50 million shillings

HF Group Headquarters in Nairobi. FILE PHOTO | NMG

HF Group Plc posted a net profit of 49.8 million shillings in the six months to June on lower expenses and higher loan and transaction income. The company wrote off a net loss of 346 million shillings a year earlier.

Non-interest income increased from 325.1 million shillings to 498 million shillings, while total interest income reached 2.07 billion shillings from 1.98 billion shillings.

HF operating expenses fell to 1.46 billion shillings from 1.56 billion shillings. The mortgage financier’s lending and investments in government securities barely changed, indicating that it benefited from higher returns on the debt portfolio.

Interest rates on commercial bank loans, treasury bills and bonds have risen in recent months amid rising government borrowing and runaway inflation.

HF’s return to profitability comes as its parent company Britam Holdings plans to sell its stake in the mortgage financier as part of its strategy to reduce its portfolio of listed shares.

Britam recently said it could sell all or part of its 48.2% stake in HF within a year. The process of divestment from the Nairobi Stock Exchange-listed company, which intends to transform into a traditional bank, began last year.

Britam, which has canceled a substantial part of the investment it made in HF, says it acquired the stake with the aim of expanding into the property and mortgage business.

Financial holding companies post record latent losses

  • By Kao Shih-ching / Staff Reporter

The country’s financial holding companies posted record unrealized losses of NT$873.2 billion ($28.66 billion) in the second quarter as the value of their investment assets plunged amid market routs triggered by the US Federal Reserve’s cycle of rate hikes, according to data from the Financial Supervisory Commission (FSC) showed on Monday.

The combined unrealized losses in the first half of this year amounted to NT$827.76 billion – NT$661 billion from overseas investments and NT$166 billion from domestic investments, according to the data.

The majority of their losses came from investments in the United States, which totaled NT$256.5 billion at the end of June, compared to unrealized losses of NT$38.4 billion at the end of March, the data showed.

Photo: Kelson Wang, Taipei Times

Investments by financial holding companies in the United States increased by NT$503 billion in the second quarter, mainly because local life insurance companies bought more U.S. fixed income products, the data showed.

China was the second largest source of losses, with financial holding companies reporting total losses of NT$53.1 billion, followed by France with losses of NT$31.7 billion, Russia with losses of NT$31.4 billion and Mexico with losses of NT$27.5 billion. show.

Firms also slightly increased investment in France, Russia and Mexico, but reduced investment in China by NT$88 billion during the second quarter, the data showed.

Overall, the overseas exposure of financial holding companies stood at NT$23.95 trillion at the end of June, up about 3% from the previous quarter, the data showed.

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Venzee Technologies Announces Second Quarter Financial Results

CHICAGO, August 29, 2022 /PRNewswire/ – Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) (“Venzee” or the “Company“), the artificial intelligence platform for product data transfer, today announced its financial results for the three and six months ended June 30, 2022.

The results reflect expense reductions related to changes in the Company’s approach to sales and marketing. According to Venzee COO Pierre Montross“Maturing go-to-market plans with key partners has allowed us to build more reliable sales and revenue plans with significantly fewer in-house sales and marketing staff.”

Driven by capital market challenges, during the quarter the Company also implemented a number of cost reduction measures. These measures were put in place from March 2022 and were fully effective in May. The reduction in cash burn is shown in the statement of cash flows when comparing “cash used in operating activities” from Q1F2022 to Q2F2022.

Q1F2022 had a use of cash on $900,000 and Q2F2022 was below $400,000. The Company expects a further reduction in cash usage in Q3F2022.

Revenue for the quarter reflects continued use of the company’s Mesh Connector™ product by two key partners progressing operational testing with major retailers.

According to the CEO of Venzee John Abrams“Although user acceptance testing took longer than expected, our AI-powered content syndication advantage proved to be highly functional and provided the concrete validation we needed to accelerate growth. revenue. With deeply invested partners and strong associated go-to-market plans, we expect consistent revenue growth in the coming quarters.”

The company reports – as combined revenue – both a one-time implementation fee and a recurring monthly fee for its Mesh Connector™ product. The results reflect minor revenue reductions associated with the end of one-time implementation fees. Financial results for the second quarter ended June 30, 2022 are the following:

  • Revenues for the three and six month period were $13,000 and $23,375 compared to $13,595 and $22,345 of the previous year;
  • The net loss for the three and six month period was $707,528 and $1,710,586 compared to $889,109 and $1,538,281 of the previous year;
  • The loss per share for the three and six month period was $0.00 and $0.01 compared to $0.00 and $0.01 of the previous year.

In addition, the Company continued to receive financial support through its previously announced convertible debenture. Regarding debenture financing, Mr. Abrams commented: “As global capital markets have experienced unprecedented challenges this year, Venzee has continued to attract investment to support operations and seize growth opportunities from income available to us.

The unaudited condensed interim financial statements and related MD&A can be viewed on SEDAR at www.sedar.com.

About Venzee Technologies, Inc.

Venzee (TSXV: VENZ) (OTCQB: VENZF) is the leading artificial intelligence platform for product data used by global brands to accelerate time to market and create competitive advantages in the supply chain. Venzee’s smart platform automates inefficient last-mile retail processes with a frictionless, machine-driven solution for sending and receiving product data.

Venzee believes that smart supply chain functionality is inevitable and will significantly benefit producers, manufacturers, brands, sellers, regulators and consumers. Venzee is laying the foundation for a future where transparent, accurate and automated data flow simplifies processes, eliminates friction and creates value for everyone who depends on the myriad of data and information surrounding any product. , anywhere.

Venzee unlocks shareholder value by fulfilling its mission to create smart technology that removes friction from the global supply chain. Its Mesh Connector™ product disrupts and replaces inefficient manual processes in favor of integrated machine-driven solutions.

To learn more about the Venzee platform, visit venzee.com

Twitter: @usevenzee
LinkedIn: linkedin.com/company/venzee-inc/
Podcast: https://www.rethinkingsupplychain.com/

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the terms of the offer, the completion of the offer and the intended use of the net proceeds received by the company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “expects”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or states that certain actions, events or results “may”, “could”, “would”, “could” or “will be taken”, “will occur” or “will be carried out”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking information, including but not limited to: business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information on these assumptions as well as on the risks and uncertainties can be found under the heading “Risk factors and uncertainties” in the Company’s management report for the financial year ended. December 31, 2018and the quarter ended August 29, 2019which are available under the Company’s SEDAR profile at www.sedar.com, and in other documents that the Company has filed and may file with applicable securities authorities in the future.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.

The Company does not undertake to update any forward-looking information except as required by applicable securities laws.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Venzee Technologies Inc.

Smartwatch Market Size Will Reach USD 156.3 Billion By


LOS ANGELIS, Aug. 29, 2022 (GLOBE NEWSWIRE) — LOS ANGELIS, August 292022 (GLOBE NEWSWIRE) – The Global Smartwatch market is expected to grow at a CAGR of around 20.1% over the forecast period 2022 to 2030 and reach around USD 156.3 billion by 2030.

Key Highlights of the Smart Watches Market Report

  • The global smartwatch market size was USD 30.4 billion in 2021 and is expected to grow at a CAGR of 20.1% from 2022 to 2030
  • North America Smartwatch Market Expected to Lead with Over 38% Market Share
  • The Asia-Pacific Smartwatch Market is expected to grow with a CAGR of around 23% during the forecast period from 2022 to 2030
  • Among the products, Standalone Smartwatch occupied more than 55% of the total market share
  • Over 500 million units of smart wearables were shipped in 2021

Free Sample Report Request @


Report cover:

Market Smartwatch market
Smartwatch market Size 2021 $30.4 billion
Smartwatch market Forecast 2030 $156.3 billion
Smartwatch market CAGR from 2022 to 2030 20.1%
Smartwatch market Analysis period 2018 – 2030
Smartwatch market Year of reference 2021
Smartwatch market Forecast data 2022 – 2030
Segments Covered By product, by application, by operating system and by geography
Smartwatch market Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Profiled Key Companies Apple Inc., Fitbit Inc., Garmin, Huawei Technologies, Fossil Group, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, TomTom International and Amazfit.
Report cover Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis

Growing demand for wearable devices with advanced smart features is the major factor that is expected to drive the growth of the global smartwatch market over the forecast period 2022 to 2030.

Government spending on the development of smart cities and easy availability of advanced infrastructure to connect to the internet and various applications are expected to fuel the smartwatch market share. Consumer spending on healthcare is increasing with the gradual increase in geriatric population with various old age problems and increase in heart disorders among the young population, resulting in demand for smart watches.

An increase in the approach to home health care among consumers is reflected in the adoption of watches that help share health data with professionals and alert the emergency service when needed, these are factors that are expected to impact the growth of the target market. In addition, the major player’s approach to improve the business through mergers and strategic partnerships is expected to increase the growth of the smartwatch market.

Impact of COVID-19 on Global Smartwatches Market Revenue

According to our recent report on the smartwatch industry, the demand for smartwatches has increased during COVID-19 as they help detect viruses in the human body. Consumer wearable gadgets that continuously assess vital signs have been used to track the progress of infectious diseases. We show how data from consumer smartwatches can be used to detect coronavirus disease 2019 before symptoms appear. Smartwatches and other wearable devices are already used by tens of millions of individuals around the world to monitor various physiological characteristics such as heart rate, skin temperature and sleep. The large number of human studies conducted during the pandemic allowed researchers to gather important data on the health of participants. Because most smartwatches recognized early signs of coronavirus in people, the market value of smartwatches quickly dominated. Hence, the increased awareness of these devices will fuel the expansion of the market in the coming years.

Dynamics of the smartwatch market

Growing penetration of sensor technology across various industry verticals, rapid technological advancements in electronic devices, and growing consumer demand for wireless fitness and sports devices are the major factors expected to drive the growth. of the global smartwatch market.

In addition, high spending capacity and growing health awareness are driving demand for smart wearable devices, which is expected to augment the growth of the global smartwatch market. Factors such as high cost of devices and heavy competition for low profit are expected to hinder the growth of the global smartwatch market. Additionally, technological glitches are expected to challenge the growth of the target market.

However, high investments of major players in product development activities and introduction of innovative solutions are expected to create new opportunities for players operating in the target market. In addition, increasing partnerships and agreements among regional and international players are expected to support the growth in smartwatch market size.

View the report’s detailed table of contents @


Segmentation of the smartwatch market

The global smartwatch market is segmented into product, application operating system and region. The product segment is divided into extension, standalone and classic. Among the product types, the standalone segment is expected to account for a major share of revenue in the global market.

The application segment is divided into personal assistance, wellness, healthcare, sports and others. Among the applications, the personal assistance segment is expected to account for a significant portion of the target market’s revenue. The operating system segment is divided into WatchOS, Android, RTOS, Tizen and others. Among the operating systems, the Android segment is expected to account for a significant share of revenue in the target market.

Regional Outlook of the Smartwatches Market

North America, Latin America, Europe, Asia-Pacific, Middle East and Africa are the regional categorizations of the smartwatch industry.

The North American market is expected to account for a major share of the global smartwatch market revenue owing to a gradual increase in the number of consumers adopting smart devices. The inclination of consumers towards the use of smart devices that facilitate health monitoring, finding a phone, etc. With increasing technological advancements, manufacturers are focusing on introducing devices that emphasize various modes of operation.

The Asia-Pacific region market is expected to witness faster growth in the target market due to high internet and smartphone penetration. Increasing consumer spending capacity, increasing demand for smart devices and introduction of innovative solutions are factors that are expected to increase the growth of the regional smartwatch market.

Buy this premium research report –


Smartwatch market players

Some of the major smartwatch companies covered in the industry include Apple Inc., Fitbit Inc., Garmin, Huawei Technologies, Fossil Group, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, TomTom International, and Amazon. The market is highly competitive due to the presence of a large number of players operating globally.

In 2020, Xiaomi, a device manufacturing company, has launched a smartwatch called Mi Watch Color in China, which comes with a 1.39-inch AMOLED screen. This product launch is expected to help the company strengthen its business in the Chinese market.

Besides, the company is also expected to launch another smartwatch in the Indian market. The product launch is expected to help the company increase its customer base in the country.

In 2020, boAt, a company providing wearable devices in India, has launched boAt Enigma featuring a 1.54-inch square-shaped color display with support for touch and AOD (Always-on Display) inputs in the Indian market. This product launch is expected to help the company strengthen its business in the country and increase its customer base.

Questions this report answers

  • What was the market size of Smartwatch Market in 2021?
  • What will be the CAGR of the Smartwatch Market during the forecast period from 2022 to 2030?
  • Who are the key players in the global smartwatch market?
  • Which region held the largest Smartwatch market share in 2021?
  • What are the key market drivers of Smartwatch Market?
  • Who is the biggest end user of the Smartwatch market?
  • What will be the value of the Smartwatch market in 2030?

Browse more research topics on Technology To research:

The Global smart speaker market taken into account $7,245 million in 2020 and is expected to reach $29,021 million by 2028 with a considerable number CAGR of 19.4% during the projected period of 2021 to 2028.

The Global Smart Sensors Market should grow to a CAGR of around 19.5% from 2020 to 2027 and is expected to reach market value of approximately $88.9 billion by 2027.

The Global Smart mobility market should grow to a CAGR of around 20.5% from 2020 to 2027 and is expected to reach market value of approximately $70.5 billion by 2027.

About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of information and consulting services in the information technology, investment, telecommunications, manufacturing and consumer technology markets. ARC helps investment communities, IT professionals, and business leaders make fact-based decisions about technology purchases and develop business growth strategies to compete in the marketplace . With a team of over 100 analysts and a collective industry experience of over 200 years, Acumen Research and Consulting ensures to provide a combination of industry knowledge with global and national level expertise.

For the latest update, follow us on Twitter and, LinkedIn

Contact us:

Mr. Richard Johnson

Acumen Research and Consulting

USA: +13474743864

India: +918983225533

E-mail: [email protected]

Netflix ad-supported plan could cost as little as $7 – TechCrunch


Netflix’s next ad-supported plan could cost between $7 and $9 per month according to a Bloomberg report released over the weekend. For comparison, the streaming service offers a basic single-screen plan in the US for $9.99 per month, while its most popular plan, which offers Full HD streaming on two screens, costs $15. $99 per month.

The Bloomberg report noted that Netflix plans to air approximately four minutes of commercials for every hour of programming, which is equal to or less than its competitors. He also said the company may run ads before and during a show, but won’t show anything after an episode ends.

In April, the streaming giant announced plans to roll out its ad-supported plan next year. But since then, several reports have pointed out that the company could launch this plan by the end of the year. The new report indicates that Netflix could launch its ad-powered tier in at least half a dozen markets in the last quarter of the calendar year.

During its recent earnings call, Netflix confirmed that users subscribing to the ad-supported plan won’t have access to its entire catalog initially – this could be due to its licensing agreement with various studios. Recent reports also revealed that Netflix may now allow offline viewing in its next plan.

Additionally, a Bloomberg report last week suggested that Netflix may not run ads on children’s content, even on the ad-supported plan. The report noted that the company may initially refrain from running ads on its original movie lineup.

The streaming giant has tried to attract more users by experimenting with cheaper plans, such as mobile plans only available in India, Malaysia, Nigeria, Kenya and South Africa. However, the ad-supported plan might become available worldwide after its launch. Estimates suggest that ads on Netflix will generate $8.5 billion in revenue by 2027. A study published by Digital TV Research in May suggests that the global ad-supported video-on-demand (AVOD) market will reach $70 billion by 2027, with the United States generating $31 billion.

Netflix isn’t the only streaming service looking to build on an ad-supported plan to expand its user base. In March, Disney+ confirmed that it plans to introduce a similar tier by the end of the year. Earlier this month, the company confirmed to launch for December with a price of $7.99 per month. During its second quarter 2022 earnings call, Warner Bros. Discovery also said it was exploring an ad-fueled plan for the new service – due to launch in 2023 – created by the merger of HBO Max and Discovery+.

India Post Financial Services Records Strong Growth; 12.25 lakh savings accounts opened in Tiruchy – The New Indian Express


Express press service

TIRUCHY: The financial services offered by India Post including various programs and initiatives are witnessing exponential growth in central Tamil Nadu and many people especially from rural areas are opting for the banking services offered by the postal department.

In the financial year 2021-2022, about 12.25 lakh savings accounts were opened in the Tiruchy Postal Region (TPR). With that, it became the region with the highest number of savings accounts opened in the country last year, officials said. The TPR comprises approximately 3,507 post offices in 13 districts in central TN.

The second and third positions were secured by Kolkata Postal Region and South Bengal Postal Region respectively with the opening of Postal Savings Accounts of 11 lakh and 9.5 lakh.

Schemes like Selva Magal Semippu Account (SSA) – a savings scheme for girls – are also seeing significant growth in the region, with around 75 lakh accounts opened in July. The scheme offers 7.6 percent interest per annum. An officer said, “In the last fiscal year, about 1.04 lakh SSA accounts were opened in the central region. In the current fiscal year (2022-23), through July, approximately 30,745 SSA accounts have been opened,” an officer said.

Sources believed that the Tamil name given to the program played a crucial role in popularizing it in the state. “The original name of the system is ‘Sukanya Samriddhi Accounts’. However, in order to popularize it among citizens, the state postal service has replaced the name with Tamil words, which has increased its reach,” a woman said. source.

Following the popularity of the system, the department is ready to consider a similar strategy with the Senior Citizen Savings Scheme (SCSS), which is now called “Agavai 60, Anjal 20” in the state.

One officer, speaking from SCSS, said: “Citizens over 60, retired civilians between 55 and 60, retired defense employees over 50 and under 60, can open this account. The postal service offers about 7.4% interest per annum for SCSS. Previously, at TPR, we had organized special camps from July 21 to August 18 and more than 50,000 accounts had been opened. We expect to open approximately 1,000 senior accounts at TPR this year.”

According to sources, another India Post initiative that is gaining popularity among residents of the central region of TN is the Aadhaar Enabled Payment System (AePS). In the financial year 2021-22, about 6.44 lakh of transactions amounting to about Rs 169.84 crore were recorded in the region, which is one of the highest recorded in the country, have indicated sources.

According to the officials, any citizen with a bank account and Aadhaar linked to the same mobile number can benefit from the scheme. “With this system, banking transactions can be performed using thumbprints and OTPs received on mobile phones,” an official said.

TPR Postmaster General A Govindarajan said, “Efforts are being made to further increase the popularity of the financial services offered by the Postal Service.” Our main objective is to ensure that financial services are accessible to everyone and our team does its best to achieve this. .”

TIRUCHY: The financial services offered by India Post including various programs and initiatives are witnessing exponential growth in central Tamil Nadu and many people especially from rural areas are opting for the banking services offered by the postal department. In the financial year 2021-2022, about 12.25 lakh savings accounts were opened in the Tiruchy Postal Region (TPR). With that, it became the region with the highest number of savings accounts opened in the country last year, officials said. The TPR comprises approximately 3,507 post offices in 13 districts in central TN. The second and third positions were secured by Kolkata Postal Region and South Bengal Postal Region respectively with the opening of Postal Savings Accounts of 11 lakh and 9.5 lakh. Schemes like Selva Magal Semippu Account (SSA) – a savings scheme for girls – are also seeing significant growth in the region, with around 75 lakh accounts opened in July. The scheme offers 7.6 percent interest per annum. An officer said, “In the last fiscal year, about 1.04 lakh SSA accounts were opened in the central region. In the current fiscal year (2022-23), through July, approximately 30,745 SSA accounts have been opened,” an officer said. Sources believed that the Tamil name given to the program played a crucial role in popularizing it in the state. “The original name of the system is ‘Sukanya Samriddhi Accounts’. However, in order to popularize it among citizens, the state postal service has replaced the name with Tamil words, which has increased its reach,” a woman said. source. Following the popularity of the system, the department is ready to consider a similar strategy with the Senior Citizen Savings Scheme (SCSS), which is now called “Agavai 60, Anjal 20” in the state. One officer, speaking from SCSS, said: “Citizens over 60, retired civilians between 55 and 60, retired defense employees over 50 and under 60, can open this account. The postal service offers about 7.4% interest per annum for SCSS. Previously, at TPR, we had organized special camps from July 21 to August 18 and more than 50,000 accounts had been opened. We expect to open about 1,000 senior citizen accounts at TPR this year.” According to sources, another India Post initiative that is gaining popularity among residents of the central TN region is the Aadhaar Enabled Payment System (AePS ). In the financial year 2021-22, about 6.44 lakh of transactions amounting to about Rs 169.84 crore were recorded in the region, which is one of the highest recorded in the country, have indicated sources. According to the officials, any citizen with a bank account and Aadhaar linked to the same mobile number can benefit from the scheme. “With this system, banking transactions can be performed using thumbprints and OTPs received on mobile phones,” an official said. TPR Postmaster General A Govindarajan said, “Efforts are being made to further increase the popularity of the financial services offered by the Postal Service.” Our main objective is to ensure that financial services are accessible to everyone and our team does its best to achieve this. .”

Why reducing governance costs has remained elusive since 2012 — Nigeria — The Guardian Nigeria News – Nigeria and World News

Lack of synergy between NASS and the executive undermines its implementation
• Legislature creates more than 200 additional agencies and commissions
• FG undecided, insincere – Legislator
• Non-implementation of the report hampers governance costs — SGF

Reducing Nigeria’s enormous cost of governance in the face of dwindling economic fortunes may remain a mirage or, at best, mere platitudes, passing through the antennae at the seat of power in Abuja and its corridors across the country.

For some time now, sustained campaigns for cost-cutting measures in governance at all levels have been led by concerned Nigerians, consisting mainly of economists, financial analysts, public sector stakeholders and commentators. .

Following unsuccessful attempts by successive administrations to reduce the number of federal government ministries, departments, and agencies (MDAs) as a cost-cutting measure, former President Goodluck Jonathan in 2011 established the Presidential Committee on Restructuring and Streamlining parastatals of the federal government, commissions and Agencies, under the chairmanship of Steve Oronsaye.

The Oronsaye committee submitted an 800-page report on April 16, 2012, which recommended the abolition and merger of 102 government and parastatal agencies, while some were listed as self-funded.

The committee revealed a high level of competition between several overlapping agencies, which had not only created resentment among government agencies, but also led to unnecessary waste of public spending.

The committee also recommended, among other things, the cessation of government funding of professional orders and councils. The measures consisted mainly of free funds for much-needed capital projects across the country.

Oronsaye’s report was met with mixed feelings as the dismissal was imminent, but many felt that despite the implications on agencies and individuals who might be affected by the exercise (if implemented ), the public service would be strengthened and made more productive.

Following the submission of the white paper on the report in March 2014, an implementation committee was set up two months later. Eight years later, the government, rather than reducing, harmonizing or merging certain agencies as recommended in the report, decided to create others.

Ten years later, there has been a lull in actions to implement the report’s recommendations.

Some commentators have identified a major impediment to the implementation of the report as being that most of the agencies involved were legislative creations. They said the enabling laws must be repealed before the agencies cease to exist.

However, and unfortunately, the actions and, in some cases, the inaction of the administration of President Muhammadu Buhari and the members of the National Assembly do not indicate any commitment to reduce unnecessary public expenditure or even to implement the report recommendations. Rather, what has happened over the past 10 years is the issuance of directives and the establishment of new committees to write a white paper or to review the entire report.

Specifically, among a number of non-motion back and forths by the government since 2012 was the establishment of the Bukar Aji committee to review Mohammed Adoke’s white paper on the Steve Oronsaye report. There had been the Amal Pepple Committee to review new parastatal agencies, agencies and commissions (PACs) created between 2012 and October 2021; just as there had been the Ebele Okeke committee to write a white paper on the report of the Amal Pepple committee on the new parastatals, agencies and commissions created between 2012 and 2021.

Findings from The Guardian revealed that in complete disregard of the recommendations contained in the Oronsaye Committee report, no less than 250 additional agencies, commissions and parastatals were created through new bills in the National Assembly.

Some of the bills creating these agencies have either been passed and assented to by the President or have reached very advanced stages of legislative processing, raising questions about the FG’s commitment to implementing the Oronsaye report.

The National Assembly, however, has also proven guilty of increasing the overall cost of governance. Audits revealed that between 2015 and 2019, some 213 of the 311 bills introduced in the 8th Senate were bills to create more federal agencies and commissions! However, only 80 of these bills received presidential assent. Duplicating the functions of existing agencies was also a key reason the president vetoed 53 National Assembly bills between 2017 and 2019.

More telling is that of the 742 bills tabled in both chambers of the National Assembly between June 2019 and June 2021, more than 262 are establishment bills, that is, bills aiming to create one or the other agency. In addition, some of the bills have been introduced to seek legal recognition of already existing federal agencies.

The bills, many of which have been passed and approved by the President, include the National Commission for the Coordination and Control of the Proliferation of Small Arms and Light Weapons (Creation), 2022; the Nigerian Peace Corps Bill; North Central Development Commission (East, etc.) Bill 2019; Electoral Offenses Commission (Est., etc.) Bill, 2019; North West (Eastern, etc.) Development Commission Bill 2019; National Sports Commission (Est., etc.) Bill 2019; and Social Intervention Programs Agency (Est., etc.) Bill, 2019.

Also included are the National Food Reserves Agency (Est., etc.) Bill 2019; Police Academy (Est., etc.) Bill 2019; North Central Development Commission Bill (East, etc.), 2019; and South West (Eastern, etc.) Development Commission Bill, 2019.

Others are the South East Development Commission Bill 2019 (East, etc.); Fiscal Responsibility Commission (Est., etc.) Bill, 2019; National Road Fund (Est., etc.) Bill, 2019; National Assembly Office of Budget and Research (Est., etc.) Bill, 2019; National Commission for the Eradication of Childhood Destitution (Est., etc.) Bill, 2019; Dormant Accounts Funds Management (Est., etc.) Bill, 2019; and the Constituency Development Fund (Eastern etc.) Bill, 2019.

Bills, which seek to create a new agency or institution, make up a significant percentage of the total bills sponsored in a particular assembly.

Meanwhile, it has been revealed that the lack of synergy between the National Assembly and the executive of the government is a key factor in the delay in the implementation of the Oronsaye report.

While the president criticizes the National Assembly for ignoring the Oronsaye report and continues to produce legislation creating more agencies, the parliament says it has received no communication from the executive regarding serious action on the Oronsaye report .

A senior National Assembly official blasted criticism of the lawmaker over the delay in implementing the report.

“For example, the presidency knows that in order to effect meaningful change and reduce the number of agencies and commissions, it is necessary to take serious legislative action, in particular to repeal the laws that created the existing agencies. Has the executive sent a communication to the National Assembly in this regard? The answer is no! So why blame the National Assembly? It may interest you to note that some of the legislative bills to create more agencies and commissions are executive bills.

Among the most important recommendations in the report are the merger of the Code of Conduct Bureau (CCB), the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offenses Commission (ICPC) in a single agency; abolition of the Budget Responsibility Commission (FRC) and the National Salaries, Incomes and Wages Commission (NSIWC), whose functions will be consolidated under the Revenue Mobilization, Allocation and Taxation Commission (RMAFC).

In addition, the Oronsaye committee recommended that laws supporting educational agencies such as the National Examinations Council (NECO) and the National Business and Technical Council (NABTEB) be repealed to give the West African Examinations Council (WAEC) the functions of both.

In broadcasting, the Federal Radio Corporation of Nigeria (FRCN), Voice of Nigeria and the Nigerian Television Authority (NTA) will be consolidated under the Federal Broadcasting Corporation of Nigeria (FBCN).

Just last week, a new drafting committee of the white paper on the review of new parastatals, agencies and commissions (PACs) which was created following the report of the Oronsaye group proposed engagement and dialogue with the National Assembly to generate understanding to streamline the creation of new agencies and commissions.

The chairperson of the committee, Ms. Ebele Okeke, former head of the civil service of the Federation, made the suggestion when the committee presented the draft white paper on the review of new parastatals, agencies and commissions to the Secretary to the Government of the Federation. (SGF), Mr. Boss Mustapha.

The committee made observations almost similar to those of the Oronsaye report. According to Okeke, the law establishing certain agencies was rather ambiguous in its structure, management and supervision. He blamed the indiscriminate use of agency, commission and board interchangeably.

He also noted that most of the agencies that have been created, especially under the Ministries of Education and Health, have been through bills from the National Assembly.

She said her committee had also discovered that the legal framework and enabling law for some of the PACs was ambiguous about their structure, management and oversight, as most laws used agency, commission and council interchangeably.

Mustapha, while receiving the Okeke Committee report, admitted that the creation of new agencies will further increase government expenditure.

He noted that the federal government’s failure to implement Oronsaye’s report has serious implications for the cost of running government.

LCI) Revenues are threatened


Market forces rained on the parade of Lannet Company, Inc. (NYSE:LCI) shareholders today when analysts lowered their guidance for this year. Both revenue and earnings per share (EPS) forecasts have been lowered as analysts see gray clouds on the horizon.

Following the downgrade, the consensus of twin analysts covering Lannett Company is for revenue of US$289 million in 2023, implying a steep 15% drop in sales from the past 12 months. Losses are expected to drop significantly, narrowing 72% to US$1.54. However, prior to this estimate update, the consensus was expecting revenue of $344 million and losses of $1.40 per share. So there has been quite a shift in sentiment after recent consensus updates, with analysts seriously cutting their earnings forecasts while expecting higher losses per share.

Check out our latest analysis for Lannett Company


The consensus price target fell 56% to US$1.00 as analysts were clearly concerned about the company following weaker revenue and earnings outlook.

Looking at the big picture, one way to make sense of these forecasts is to see how they compare to both past performance and industry growth estimates. Something else that stood out to us about these estimates, and that was the idea that Lannett Company’s decline is set to accelerate, with revenue expected to fall at an annualized rate of 15% through the end of 2023. This caps a historic decline of 11%. % per year over the last five years. Compare that to analyst estimates for companies in the broader industry, which suggest revenue (in total) is expected to grow 3.8% annually. So it’s pretty clear that while it has declining revenue, analysts also expect Lannett Company to suffer more than the industry as a whole.

The essential

The most important thing to note from this downgrade is that the consensus has raised its loss forecast this year, suggesting that all may not be well at Lannett Company. Unfortunately, analysts have also lowered their revenue estimates, and industry data suggests that Lannett Company’s revenue is expected to grow more slowly than the broader market. After such a drastic shift in sentiment from analysts, we would understand if readers were now a bit wary of the Lannett Company.

Even so, the longer-term trajectory of the company is far more important to the creation of shareholder value. We have analyst estimates for Lannett Company going out to 2025, and you can view them for free on our platform here.

Another way to search for interesting businesses that might be reach an inflection point is to track whether management is buying or selling, with our free list of growing companies insiders are buying.

Feedback on this article? Concerned about content? Get in touch with us directly. You can also email the editorial team (at) Simplywallst.com.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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Green Bay entrepreneurs aim to take their clients on a ‘Joy Journey’


Karla Brooks and Jessie Coffman-Riewe (also known as “Nurse Jessie”) of Green Bay are on a mission to bring happiness. They have separate, but connected businesses.

Coffman-Riewe owns Nurse Jessie LLC; Brooks owns Makes Me Happy LLC.

“I formed Nurse Jesse LLC with a mission to change the way health care interacts with the people we serve,” Coffman-Riewe said. “I’m also a business facilitator for It Makes Me Happy LLC. Karla is the founding creator of the business and loves creating content and programs, and I love bringing that content to life.”

The result of their collaboration is a program that changes the face of corporate culture by acknowledging the burnout and dissatisfaction that many workers face.

“We like to say, ‘Who doesn’t want to be happy?'” Brooks said. “We help people answer two questions, ‘Who are you? What makes you happy?’ And, rather than just talking about it in theory, we offer practical, science-backed tools to improve happiness levels.

She cites research from iOpener Institute in Oxford which compares the happiest employees with their least happy colleagues. The happiest take one-tenth the number of sick days; are six times more energetic; stay twice as long in their organization; and are twice as productive.

Statistics like these have HR departments trying to find ways to combat discontent. Brooks created a program called “Take the Trek Joy Journey, Impact Emotional Health and Culture” to meet this need.

The 12-month proprietary program includes three different “Joy Journeys” that businesses can choose from depending on how much support they want with program implementation. All include the use of “team champions”, employees within a company who are identified by human resources to bring the program to life.

RELATED:Women leaders in northeastern Wisconsin feel drained from the stresses of work and family life, UWGB survey finds

“We’ve identified 12 areas of happiness and focus on one of them each month, from scents and scents to pets and hobbies,” Coffman-Riewe commented. “Participants receive videos, a workbook, emails, and prompts to identify their personal happiness and collaborate as a team each month.”

She says the program builds authentic relationships to help people connect with each other on a deeper level. This, in turn, leads to better workplace engagement and increased productivity.

The program and focus on corporate well-being, rather than small groups and individuals, shows how far they have come since one of their first encounters with Green Bay SCORE mentors about seven years. They continued to stay in touch with SCORE, especially mentor Bob Jahnke, and had other mentors as well.

Karla Brooks of Green Bay is the owner of It Makes Me Happy LLC.

Brooks has benefited from the help of Brand Builders Group and follows some of the wellness superstars. With this inspiration and the experience she acquired working full-time in strategic development, her vision for the company is one of strong growth.

“As the number of companies we work with grows, we will add more enablers,” Brooks said.

“Mental health is one of the top medical expenses for employers these days due to depression and anxiety,” she said. “And, going further, employers have a hard time recruiting people, so once they have them, they have to keep them. Employees select a company based on company culture.

Coffman-Riewe echoed this comment: “People are exhausted and alone. Important data is emerging on the power of emotions and human connection and their impact on health. As a nurse, it’s fascinating to see the mind-body-spirit connection play out in health outcomes and to be part of a positive solution in a world that can seem overwhelming.

Both believe the pandemic has heightened feelings of anxiety and heightened the need for intervention. Brooks says that if 50% of a person’s attitude is genetic and 10% is environmental, 40% is our attitude towards them and that’s the part that can be changed, regardless of negative events such as Covid crisis.

She gives an example of something she invented called the “15 second rule”. It is one of many techniques used by the program and is based on the Velcro/Teflon theory which says that our brain treats positive thoughts like Teflon and they disappear right away while negative thoughts tend to stick like Velcro.

“I used this science and came up with the 15-second rule to get people into a positive mode,” Brooks explained. “Focus on something that makes you happy for 15 seconds, and doing that consistently makes people happier. Stop and smell the lilacs; kiss him for 15 seconds. We can train our brain.

After:Go girl! Life Coaching Empowers Women Through Confidence and Goal Setting

After:Pickup Truck Restoration Leads to Menasha’s Entrepreneur Invention and Business

Tina Dettman-Bielefeldt is co-owner of DB Commercial Real Estate in Green Bay and former district manager of SCORE, Wisconsin.

Why gold is lagging behind its record prices


Gold prices are down so far this year, unable to reach their high two years ago.

David Gray/AFP/Getty Images

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Two years after gold climbed to its highest price on record, the metal has little to show for it. It failed to regain ground above the $2,000 level, prompting investors to question its ability to serve as a safe-haven asset.

However, as some analysts point out, gold remains a key asset for long-term portfolio diversification and has outperformed the US stock market.

Although gold prices have been volatile and have fallen from their highs this year, “many investors are surprised to learn that gold has served as a relative safe haven in 2022,” says Steven Schoenfeld, CEO of the MarketVector index provider. Gold prices are down 3.1% this year as of August 25, but the


the index lost almost 12%.

Gold futures saw their most active contract settle at $2,069.40 per ounce on August 6, 2020, the highest on record. They fell to trade below the $2,000 mark consistently until March of this year when they saw settlements above that level. On August 25, prices stood at $1,771.40.

Gold prices had two “powerful surges,” in the summer of 2020 and another in early winter 2022, matching Russia’s invasion of Ukraine, according to Schoenfeld. “Gold has since corrected significantly,” he notes, attributing the pullback to a steady rise in interest rates and the “vocal articulation” of the Federal Reserve’s monetary tightening policies, which have also strengthened the US dollar.

In a speech to central bankers at the Jackson Hole retreat on Aug. 26, Fed Chairman Jerome Powell implied further interest rate hikes as the Fed continues its efforts to control inflation.

The dollar, as measured by the ICE US dollar index, is up 13% this year. It hit a 20-plus-year closing high on August 22.

The dollar’s exceptional strength against other currencies has bolstered investor confidence in the currency’s safe haven role “to the detriment of gold,” said George Milling-Stanley, chief gold strategist at State Street. Global Advisors.

Despite this, he believes that investors are “exaggerating the potential negative impact of higher interest rates” on gold prices. He points out that over the past two periods of sustained Fed tightening, gold prices have actually risen sharply, “contrary to the conventional wisdom that higher rates hurt gold investing. because they increase the opportunity cost of investing in them”. For example, in the two years from June 2004 to July 2006, when the Fed raised rates 17 times, gold rose 42%, Milling-Stanley says.

While he doesn’t rule out another test of support for gold around the $1,700 level, he points out that State Street’s base case scenario is for prices this year to be between $1,800 and $2,000. . “Current uncertainties on the macroeconomic and geopolitical fronts could bring prices back into this trading range before the end of the year,” Milling-Stanley said.

Central banks, meanwhile, continued to buy gold. This matches the trend following the 2008 financial crisis, says Steve Land, senior portfolio manager of the

Franklin Gold and Precious Metals

funds (symbol: FKRCX).

Global central banks added 180 metric tons to official gold reserves in the second quarter compared to the first quarter, according to the World Gold Council.

“Growing geopolitical uncertainty has caused central banks to hold more gold and less currency or debt from other countries,” Land says.

Still, gold markets are “difficult to predict,” he adds. Gold is a financial instrument that tends to profit from periods of economic uncertainty or fear of inflation, and it is a “luxury good”, with most of the world’s annual gold production being sold like jewelry, “which may feel pressure during economic downturns.”

“There’s usually a lot of countervailing pressure in the gold market, giving it unique price moves relative to other assets,” he says. This helps make it a “compelling addition to a diversified portfolio.”

E-mail: [email protected]

Who Gets Student Loan Forgiveness? Relief arouses joy, anguish | State

For Nick Marcil, forgiving $10,000 of his student loans could mean finally leaving his parents’ house.

Marcil, 24, attended a Pennsylvania state college, won scholarships and worked while pursuing a degree in education, but still owed $18,000 before Wednesday’s action by the Biden administration to erase some student loans.

“I feel like if I didn’t have that burden, I would be more likely to, you know, try to move — try to have, you know, my own house,” Marcil said, who lives in a suburb of Philadelphia. .

For borrowers like Marcil – including millions whose entire debt will be erased – the decision means new freedom to move around, start a family or hold down a low-paying but fulfilling job. But for many others, the long-awaited plan brings bitterness and frustration.

Many student borrowers feel left out, perhaps because they did not qualify for federal loans and had to rely on private loans, which will not be forgiven. Other Americans are unhappy with the break current debtors will receive because they have already paid off debt, worked to avoid college loans or opposed the decision on philosophical grounds.

Then there are the systemic effects. Some inflation watchers fear that the new purchasing power of borrowers will drive prices up even further. The loan forgiveness is estimated to cost the government more than $300 billion, according to an analysis of Penn Wharton’s budget model. And the relief does nothing to address the skyrocketing cost of college.

The frustration may be greater for the more than half a million people who owe more than $200,000 in federal loans. For these borrowers, $10,000 to $20,000 seems disconnected from the exorbitant cost of American higher education. Last year, the average state college tuition cost more than $10,000, and the average private college charged $37,000 per year.

Christian Smith, 32, will owe more than $60,000 when she completes her undergraduate degree at the University of Colorado at Denver next year. This is roughly equivalent to his annual household income. “It’s overwhelming,” she said.

Smith, who works full-time in student outreach for the Young Invincibles, a nonprofit that advocates for students and youth, estimates she and her partner will both pay $900 a month to repay their loans students once she graduates.

“We’re talking about buying a house, but that just doesn’t seem like something I’ll ever be able to do,” she said.

Having a child also feels painfully out of reach. Smith plans to postpone motherhood until she has paid off her school debt.

“I was poor growing up, and I don’t want that for my child,” she says. “I don’t mean that you can’t attend this field trip or that you have to wear used clothes that the other kids make fun of.”

If President Joe Biden had chosen to provide further student debt relief, it would have a bigger impact, she said, especially for black women like her. Statistics show they hold a larger share of student debt than white graduates because they lack family wealth to help fund their education.

“If he had cleared my debt, I would take out my Mirena tomorrow,” she said, referring to her contraceptive device.

Dallas attorney Adwoa Asante borrowed $147,000 in federal loans to attend law school at Emory University. She graduated in 2015 and has since repaid around $15,000. With interest, she still owes $162,000 – a debt that she says has limited her career options.

Asante, who is black, said a $10,000 pardon is “better than nothing,” but a full pardon would go much further to improve the wealth gap between black and white Americans.

“If the Biden administration or any other government administration is concerned about fairness, it just doesn’t make sense to force people who can’t afford it to withdraw money so they can go to school,” she said.

While $10,000 or even $20,000 may not seem like enough for many debt-ridden Americans, it’s too much for some student borrowers who see the plan as an unnecessary burden on taxpayers.

“It took both my parents years to pay off their college debt, and now they’re being told that if they had waited a bit it would have just gone away,” said Jackson Hoppe, 19, a college student. GeorgeWashington.

Hoppe has his own federal student loans and expects to owe about $18,000 by the time he graduates. But he does not want forgiveness.

A bailout “places an additional burden on Americans, many of whom haven’t even gone to college,” Hoppe said. “Don’t take on debt you can’t repay, and don’t ask others to pay your own debts.”

Borrowing money has been the only way for many Americans to get to college or university, steps seen as necessary to join and stay in the middle class or progress beyond it.

For Catari Giglio, financing college and joining the middle class is more difficult than for most Americans. Giglio’s parents are from Chile and the family moved to Boston from Italy when she was 13.

Giglio, 20, is in the country without legal permission and does not qualify for federal loans because she does not have a Social Security number. She will not receive any benefits from Biden’s debt cancellation plan.

Giglio, who plans to borrow a total of $150,000 in private loans by the end of his four years of studying graphic design at Suffolk University, is already paying nearly $400 a month to repay the 12% interest on the money she borrowed to finance her first two years of school.

“It’s frustrating. It’s 10 times harder for me to go to school, to earn money,” she says. “There’s no help for us.”

Giglio has applied for lawful permanent residence in the United States and hopes to have more options for paying for her education once she receives a green card.

She regrets the obligations she has assumed and wonders about the American education system that allowed her to accumulate a mountain of debt.

“Putting such financial responsibility on an 18-year-old fresh out of high school is not a responsible thing to do,” she said. “Society and schools don’t prepare us to make these kinds of financial decisions.”

The decision brought joy to the many people whose entire debt is forgiven.

Emily Taylor, a single mother of three in Louisiana, owes $12,000 in student loans even though she never finished school. As a Pell Grant recipient, she expects everything to be eliminated.

Taylor, who works in customer service, said the cancellation would allow her to start saving for her children’s education, ages 14, 12 and 10.

“Knowing that I can help my kids do things differently and help fund their education in a way that my parents couldn’t help fund mine is so important,” she said. .


Associated Press writers Claire Savage in Chicago, Heather Hollingsworth in Mission, Kansas, and Arleigh Rodgers in Indianapolis contributed to this report. Savage and Rodgers are members of the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places reporters in local newsrooms to report on underreported issues.


The Associated Press education team receives support from the Carnegie Corporation of New York. The AP is solely responsible for all content.

Twilio and Cloudflare among Oktapus’ 135 phishing targets • The Register


The criminals behind attempted cyberattacks on Twilio and Cloudflare earlier this month had cast a much wider net in their phishing expedition, targeting up to 135 organizations – mostly IT service providers, software development and US-based cloud services.

The gang went after employees of Okta customers, sending victims text messages containing malicious links to sites spoofing their company’s login page to harvest their work login credentials and passcodes multifactorial. For this reason, Group-IB analysts named the campaign Oktapus.

In a study released on Thursday, the Threat Intelligence Team found that Oktapus’ phishing journey, which began in March, stole 9,931 user credentials and 5,441 multi-factor authentication codes. .

“The attackers’ initial goal was clear: to obtain Okta credentials and two-factor authentication (2FA) codes from users of the targeted organizations,” wrote Group-IB researchers Roberto Martinez and Rustam. Mirkasymov.

“With this information in hand, attackers could gain unauthorized access to any company resources that victims have access to.”

The crooks then used the stolen credentials and 2FA codes to carry out several supply chain attacks. They broke into the marketing company Klaviyo and the email service Mailchimp, which then allowed the criminals to harvest the email addresses of DigitalOcean customers to phish those people.

And, of course, the attackers tried and failed to hit Cloudflare, and managed to break into Twilio, which then allowed them to target Twilio Signal client users and obtain phone numbers and passwords. registration of 1,900 users of the encrypted messaging service.

Group-IB’s research includes a screenshot of some of the phishing sites that mimicked Okta’s authentication pages, and based on that, companies targeted include AT&T, Verizon, T-Mobile and the messaging service Mailgun.

In total, the researchers found 169 unique domains involved with Oktapus, and they noted that the phishing kit used by the attackers included a legitimate image used by sites requiring Okta authentication.

The phishing sites, which looked a lot like the real authentication pages of organizations, asked employees to enter their username and password, then asked them for a 2FA code. These stolen credentials were then sent to a Telegram channel controlled by the attacker, and the criminals used them to access company data, emails and internal documents, we are told.

While most of the companies targeted can be categorized as tech companies – this includes 53 software companies, 22 telecommunications companies and 21 enterprise service providers – the attackers are also hitting organizations in finance (13 ), education (9), retail (7), logistics. (4), video games (2), legal services (2) and power supply (2).

“Seeing financial companies in the compromised list gives us the idea that the attackers were also trying to steal money,” the researchers noted. “In addition, some of the targeted companies provide access to crypto assets and markets, while others develop investment tools.”

The bulk of the targeted organizations are headquartered in the United States (114), and those in other countries have US-based employees who were targeted, according to Group-IB.

However, they warned, we are unlikely to know the scale of the attack for some time. ®

RSPCA shelters ‘drowned’ animals amid cost of living crisis | UK cost of living crisis


The RSPCA has recorded a 24 per cent rise in the number of abandoned animals this year, with shelters reporting they are ‘drowning in animals’ amid the cost of living crisis.

Workers are inundated with calls from owners struggling to feed and care for their pets. Between January and July this year, the charity received 22,908 animal abandonment reports, compared to 18,375 in the same period last year, while in the first five months of 2022, 49 % more rabbits, 14% more cats and 3% more dogs were abandoned. .

A Worcestershire animal sanctuary said it was ‘absolutely stuffed with animals’ as bills soared. In July, the centre’s busiest month so far this year, total running costs came to £7,500, double its average monthly bill.


“I worked in animal rescue for 12 years and we are always busy, but this is different. It’s like our nose is right above the water and you’re like, God, this is almost too much,” said Ned Cotton, director of The Holdings rescue center in Kempsey.

“We now really see the problem of the cost of living crisis. People have to choose between feeding themselves and feeding their pets. It’s a horrible situation for a lot of people. »

The charity has seen a 9% increase in calls to its emergency helpline this year, many of them from people struggling with vet bills, and their latest investigation revealed 19% of pet owners worried about how they would afford to feed their pets.

“I get several phone calls a day from struggling members of the public and now I definitely hear money as a big factor,” Cotton said. “And it’s difficult from our point of view because sometimes we can help, but often we don’t have the space.”

He added: “There is a huge backlog, we have animals in private boarding schools waiting for places to become available in rescue centers like ours. At the moment we have two cat spaces, but they will be filled in the next few days. »


On a single day in August, the shelter took in nine abandoned cats and three rabbits.

Claire Wood, a volunteer at the centre, said: ‘Sometimes it feels like we are drowning and fighting to save, care for and relocate the endless stream of animals we see.

As abandoned animals increase, the number of people showing up for rehoming has slowed. In 2019, the association welcomed an average of 753 animals per week. That figure fell to 518 per week in 2021, and rates are still slow.

“Because of the cost of living crisis, people are going to make judgments, they are going to make calls about how their money is being spent. We noticed that repatriation slowed down in July and people are not donating either; so many people just can’t afford it anymore,” Cotton said.

The RSPCA recently launched its Undo cruelty campaign to help raise funds for deployed rescue teams rescuing animals on the front lines.

The charity is also concerned that the cost of living crisis will lead to more pets not being neutered, not microchipped and not receiving medical care when they need it.

“We’re seeing people not getting pet insurance, and we’ve seen a trend over the past few months where people haven’t been giving prompt care to their pets. We had a dog who had to have his entire ear canal removed, probably because there was a seed in it and it got progressively worse because he wasn’t being treated,” Cotton said.

His main concern was how the shelter would cope over the next few months, as energy bills were expected to climb further.

“A lot of times people think ‘how can people give up on their pets, how could someone do that? “, He said. “But often there are very genuine reasons behind it and I think with the cost of living crisis, I’m scared to think about what’s going to happen over the the next few months.”

Attorney General James and Governor Hochul announce $2 million fine against company that illegally operated oil wells

James Lee was ordered to plug hundreds of oil wells that
Drinking water at risk in Steuben and Cattaraugus counties

The decision includes the largest financial penalty ever imposed for violations of plugging well

NEW YORK – New York Attorney General Letitia James and Governor Kathy Hochul today announced a $2 million judgment in a lawsuit against James R. Lee and his affiliates for gross violations of immigration regulations. Status of Oil and Gas Wells and Community Endangerment in Steuben and Cattaraugus Counties. . Lee and his companies were ordered by a state Supreme Court judge to pay the fine – the heaviest financial penalty imposed in an oil and gas well case – and put his oil wells in full swing. compliance with state laws. For years, Lee and his companies failed to properly cap the wells they operated, which posed a significant hazard to drinking water supplies and methane release in areas surrounding the wells.

“This is a critical victory for our efforts to protect New York’s air and water. These illegally operated oil wells were threatening drinking water for countless families in southern and western New York and causing significant environmental damage,” said Attorney General James. “This case should make it clear that New York will stand up to anyone who threatens the health of our communities or our natural resources. I am grateful to Governor Hochul, Commissioner Seggos and our partners at DEC for their partnership in stopping polluters and protecting people.

“My administration is focused on taking decisive action to protect drinking water in communities across the state, and the record financial penalty announced today is a major victory for New York,” said Governor Hochul. “We remain steadfast in our efforts to hold accountable anyone who endangers the health and safety of New Yorkers. I thank Attorney General Letitia James for her partnership in taking action to protect public health and the environment in Steuben and Cattaraugus counties.

“This judgment is a significant judgment day for Lee and his companies after years of blatant disregard of New York State’s strict requirements at hundreds of oil well sites in Steuben and Cattaraugus counties,” said DEC Commissioner Seggos. “I thank Attorney General James, his team and my staff for their tireless work in bringing this persistent offender to justice. This unprecedented case demonstrates that New York State will spare no effort to aggressively pursue polluters and hold them accountable for the damage they cause to our environment and our communities.

For many years, Lee and its fictitious subsidiaries – Lee Oil Company, Inc., Whitesville Producing Corporation, Whitesville Production Corp., Allegro Oil & Gas Inc. and Allegro Investments Corporation – owned or operated hundreds of oil wells in Steuben and Cattaraugus. counties. These illegal operations have been the subject of numerous enforcement actions brought by the Office of the Attorney General (OAG) and the DEC. After failing to follow environmental laws and properly plug more than 400 of the wells, OAG and DEC filed a lawsuit against Lee and his companies to force them to comply, including properly plugging their wells, as well as to pay fines for their flagrant and long-standing violations. .

The court ruled in favor of OAG and DEC in their case against Lee and determined that:

  • Defendants failed to plug over 400 oil wells;
  • The defendants did not submit more than 10 years of required annual reports for the wells;
  • Defendants failed to file required DEC organizational reports for well operators;
  • The defendants did not provide an adequate financial guarantee intended to ensure the clogging of the wells;
  • James Lee is personally responsible for the sanctioning and compliance of wells and is not protected by its defunct affiliates; and
  • Responsibility for plugging pits may be transferred to successor owners of the affected mining property.

The $2 million fine was imposed on Lee and his affiliates, in part on the fact that the state proved that Lee benefited financially – at least $1 million – by failing to comply. state environmental law and returning judgments against them. In its decision, the court found that Mr. Lee and his companies violated these laws for years and ignored repeated attempts by the state to bring Mr. Lee and his companies into compliance.

Disconnected oil and gas wells pose serious threats to drinking water supplies and the environment in general. Several of Lee’s wells have already spilled oil into surrounding waters and pose ongoing threats to public health. Additionally, these sinks can emit methane, a potent greenhouse gas that is a major contributor to climate change.

The court said its decision should send a strong message to discourage other well operators from considering abandoning their own obligations on oil and gas wells around New York State and letting taxpayers pay for their clogging. The decision also sets an important real estate law precedent that can be used to require owners of properties with unplugged wells to fully comply with state well plugging requirements.

DEC will continue to rigorously monitor Lee’s wells and ensure that the court order is followed by bringing all wells into compliance. Mr. Lee has alleged an inability to pay for the patching, but DEC will seek to recover any assets it has that could be used to meet the obligations imposed by the judgment.

The case was handled by Assistant Attorneys General Meredith Lee-Clark and Brian Lusignan, overseen by Senior Enforcement Counsel Andrew Gershon and Bureau Chief Lem Srolovic of the OAG’s Environmental Protection Office. . The Environmental Protection Bureau is part of the Social Justice Division, which is led by Chief Deputy Attorney General Meghan Faux and overseen by Senior Deputy Attorney General Jennifer Levy. For DEC, the case was handled by the office of General Counsel David Keehn, with support from Mineral Resources Section Chief Ted Loukides, overseen by Lisa Wilkinson and Scott Crisafulli, with Deputy Commissioner and Counsel General of the DEC, Thomas S. Berkman.

Sophisticated BEC Scammers Bypass Microsoft 365 Multi-Factor Authentication


and hackers have developed ways to circumvent multi-factor authentication (MFA) on cloud productivity services like Microsoft 365 (formerly Office 365).

A BEC attack recently analyzed by cloud incident response firm Mitiga used an adversary-in-the-middle (AitM) phishing attack to bypass Microsoft Office 365 MFA and gain access to a business executive’s account, then successfully added a second account authentication device for persistent access. According to the researchers, the campaign they analyzed is generalized and targets large transactions of up to several million dollars each.

Initial access for BEC attack

The attack began with a well-crafted phishing email posing as a notification from DocuSign, a widely used cloud-based electronic document signing service. The email was crafted for the targeted business executive, suggesting the attackers did reconnaissance work. The link in the phishing email led to a website controlled by the attacker which then redirects to a Microsoft 365 single sign-on login page.

This fake login page uses an AitM technique, where attackers run a reverse proxy for two-way authentication requests between the victim and the real Microsoft 365 website. The victim has the same experience as on the real login page. Microsoft login, along with the legitimate MFA request that they must complete using their authenticator app. After the authentication process is successfully completed, the Microsoft service creates a session token that is flagged in its systems as MFA-compliant. The difference is that since the attackers acted as a proxy, they now also have that session token and can use it to access the account.

This reverse proxy technique is not new and has been used for several years to circumvent MFA. In fact, easy to use open source attack frameworks have been created for this purpose.

Secondary authenticator app provides persistence

According to logs analyzed by Mitiga, the attackers used the active session to add a secondary authentication application to the compromised account, giving them persistence even if that session token later expired. Because they had already intercepted user credentials, they now had their own method of generating MFA codes.

“Adding an additional MFA device to an Azure AD user does not require any additional verification, such as MFA reapproval for the session,” the researchers said in their report. “This means the attacker can add an MFA device to the victim’s account even a full week after the session was stolen without invoking any further user interaction, such as a new MFA approval request.”

The researchers believe this to be a design weakness in Microsoft’s authentication system because, in their view, security-sensitive actions such as changing MFA options, including adding a new MFA device, should trigger a new MFA dispute. In fact, it’s not the only sensible action where this doesn’t happen. According to the researchers, using Azure AD’s Privileged Identity Management (PIM) feature, which allows administrators to temporarily elevate their privileges, also does not require MFA challenge.

“PIM is designed so that administrative users can work with non-administrative rights and only elevate their permissions to an administrator using this portal,” the researchers said. “Microsoft however does not allow the customer to require an MFA rechallenge for this activity despite its high risk. This means that even if you have PIM enabled, if the account is compromised, the attacker can become an administrator by going to PIM portal themselves (although, at least in this case, the user will receive a notification that someone has enabled this privilege).”

Another issue highlighted by Mitiga is that customers do not have the ability to configure when a new MFA challenge occurs if they consider the default behavior not strict enough. The best they can do is set the session token timeout to the lowest possible value to limit the window of time the attacker has, but that’s not practical because the attacker has need a few seconds to perform such an action.

In this incident, the attackers used the session token from an IP address in Dubai, a location the victim has never been to or logged in from before. Such a change of location should also prompt a new challenge from the AMF.

“Microsoft Identity Protection identified some of these as risky logins,” the researchers said. “However, unless an organization can withstand some of the false positives generated by Identity Protection, the default behavior is to require an MFA rechallenge, which is not effective at this point because the attacker has already configured the ‘App Authenticator.”

Recognition and hacking of email threads

After gaining access to the executive’s Microsoft 365 account, the attackers began going through his Outlook correspondence and SharePoint files. This allowed them to identify a thread about an upcoming transaction between the victim’s company and another. The discussion was copied by several people, including company executives and attorneys from the law firm representing the organization, as well as executives from the third-party firm believed to be sending the fund and its attorneys.

The attackers searched for files related to the transaction, including contracts and other financial documents. They then registered fake domain names for the victim’s company and his law firm and drafted an email in the name of one of the lawyers, informing the third party company that the victim’s company had update its transfer instructions and account due to an ongoing audit freeze. their regular account.

The reason the fake domains, which were similar to the real ones, were needed was to give the impression of keeping all previous parties in the thread, but using fake email addresses instead so that they don’t actually receive the new email. Only representatives of the third-party company supposed to initiate the transaction have seen the malicious email.

Fortunately, one of the recipients mistrusted the email, so the transaction did not go through, but there are many cases where employees act on carefully crafted emails and forward l money in accounts controlled by attackers. According to the FBI’s Internet Crime Complaint Center (IC3), BEC attacks resulted in more than $43 billion in losses between June 2016 and December 2021.

“Given the accelerated growth of AitM attacks (even without the persistence allowed by an attacker adding a new compromised authentication method), it is clear that we can no longer rely on multi-factor authentication as our primary line of defense against attacks. identity attacks,” the researchers said. “We strongly recommend implementing another layer of defense in the form of a third factor tied to a physical device or the employee’s authorized laptop and phone. Microsoft 365 offers this as part of the conditional access by adding an authentication requirement via registrant and compliant device only, which would completely prevent AitM attacks.”

Mitiga has also released a security advisory on the BEC campaign.

Copyright © 2022 IDG Communications, Inc.

Coles reveals inflations are weighing on his prices and cost of doing business


Coles revealed that the price of its products rose 4.3% over the past financial year as Australia’s cost of living crisis continued to hit consumers.

The supermarket giant revealed in its financial results on Wednesday that the price of its products and its cost of operation were both negatively impacted by inflation in the 2021-22 financial year.

“In July, we saw further inflation in commodity costs due to recent flooding, bakery due to wheat prices, and packaged grocery due to various chain cost increases. procurement, including wages, packaging, raw materials and freight,” Coles said. in a report.

“In line with our suppliers and customers, we are also seeing inflationary pressures impacting our own cost base with rising wages, rent, fuel, supply chain and capital costs.

Camera iconThe cost of living continues to hit consumers, with Coles revealing how inflation has affected his prices. NCA NewsWire/James Gourley Credit: News Corp Australia

“Additionally, Covid and the flu have seen increased absenteeism costs for team members continue to impact the business.”

Coles revealed that total supermarket price inflation of 1.7% had been recorded over the past financial year.

But in the fourth quarter, this inflation rose to 4.3%, which was particularly felt with fresh produce.

“In the fourth quarter, new inflation was 4.7% and was driven by both bakery, reflecting higher wheat prices, and fresh produce, due to flooding in Queensland and New -South Wales which has had an impact on supply, particularly in vine and soft vegetables such as tomatoes, peppers and broccoli,” Coles said.

“Raw material, commodity, shipping and fuel costs remained the primary driver of supplier input cost requests received in the fourth quarter, impacting packaged goods inflation. .”

The supermarket giant’s cost of running, as a percentage of sales, rose 50 basis points to 21.4% in the past financial year, partly due to underlying cost inflation.

He noted that one of his biggest challenges in today’s market was rising food inflation, which had led to an increasing number of suppliers raising prices and customers’ “more value-driven choices”. impacted by cost of living pressures.

Camera iconInflation has a negative impact on prices and the cost of doing business at Coles. NCA NewsWire/Jeremy Piper Credit: News Corp Australia

But in some worrisome news for consumers, Coles signaled his inflation troubles aren’t going to end any time soon.

In his outlook for fiscal 2023, Coles said rising inflation and rising interest rates will continue to put pressure on many households.

He also said inflationary costs, including salaries, rent, fuel, supply chain and capital costs, would impact his cost of doing business.

To counter these issues, Cole said he is focusing on promoting initiatives and exclusive products that will entice customers to shop at his stores.

“With rising inflation and rising interest rates putting pressure on many households, Coles will continue to focus on delivering trusted value to customers through our differentiated Exclusive to Coles range. , our exclusive liquor brands and our Flybuys loyalty program,” he said.

“We have also locked the price of 1,168 products in supermarkets and online until at least January 31, 2023, and started lowering the price of an additional 500 products.”

Coles Group chief executive Steven Cain also said its “smarter selling program” would help reduce inflationary costs of doing business.

“We have now delivered the third year of our transformation strategy, including significant growth in our e-commerce operations coupled with additional efficiencies through our Smarter Selling program,” he said.

“The continued headwind of rising inflation underscores the importance of our Smarter Selling cost reduction program, and the start of commissioning of three of our four Witron automated distribution centers and processing centers Ocado customers in FY24 will allow us to improve future efficiency while delivering an improved offering to inspire customers,” he said.

Coles posted net income of $1.048 billion for the 2021-22 fiscal year, an increase of 4.3% over the previous year.

It also recorded $39.75 billion in annual revenue, a 2% increase from the prior fiscal year.

Ready, set, go: Claremont City Council races heat up

by Steven Felschundneff | [email protected]

What a difference a day makes.

In our Friday, August 12 edition, we reported that as the deadline approached, only one incumbent City Council member had a challenger in the November election. But by the Monday, August 15 deadline, the three starters had a race on their hands.

In a flurry of activity on Deadline Day, Aundre Johnson and Maura Carter became qualified candidates for the council, meaning they had collected all 20 nomination signatures and submitted the forms to the city clerk.

On Wednesday, Johnson had taken the next step by forming a committee and providing the city with the necessary paperwork that will allow him to spend or raise more than $2,000 for his campaign. Carter had not yet filed those documents.

Pro Tem Mayor Ed Reece will run against former City Councilman Peter Yao in District 2, Councilwoman Jennifer Stark will face Carter in District 3 and Mayor Jed Leano will face Johnson in District 4.

Councilwoman Jennifer Stark’s opponent in the Nov. 8 election is Maura Carter.

Pro-Tem Mayor Ed Reece will face former council member Peter Yao in the Nov. 8 election.

While the incumbents, and Yao, are household names to COURIER readers, less is known about Johnson and Carter.

Johnson works as a television and film director and has provided Covid security management on Hollywood studio grounds throughout the global pandemic. He is married and has two sons who currently attend Claremont Elementary Schools.

He was a member of the Claremont Police Station Citizens’ Advisory Committee formed after the failure of the first bond measure to fund and build a new police station. He was also a member of the No on Measure CR committee, which in November 2019 succeeded in defeating the ordinance that would have raised sales tax in Claremont by 0.75% with money paid into the general fund.

“I’m running for office to make sure the city council is focused on increasing transparency with issues that impact our community,” Johnson said. “Likewise, I want to emphasize that the city council exists to serve all constituencies. I want to make Claremont a safe place for everyone to live while preserving Claremont’s sense of place by maintaining the unique quality of our neighborhoods.

Carter grew up in Claremont, attending local public schools and Claremont colleges. She has “worked, volunteered and participated in community events in Claremont”, including taking an active role in the “Keep La Puerta Public” campaign, which opposes Trumark Homes’ proposed development of the former site of school at 2475 N. Forbes Avenue.

“I want to continue the diversity, inclusiveness and accessibility of this beautiful city. I have many longtime friends, neighbors and associates in Claremont and enjoy a strong sense of community. I have great respect for the intergenerational voices of Claremont. I will serve Claremont with integrity, dedication to fiscal responsibility and commitment to safety, inclusiveness and sustainability,” she said.

Yao quit his job on Claremont City Council in 2010 so he could serve on the Citizens Redistricting Committee. His 10-year commitment to this organization is now over, so he is refocusing his efforts on serving Claremont.

“I am seeking another role on Claremont City Council after my previous term in 2010 to address some outstanding issues in our community. There are significant opportunities to showcase the partnership between the city and Claremont Colleges, and strengthening the town-gown relationship remains critical to ensuring Claremont’s growth. Claremont Colleges provide a world-class academic environment, and strengthening the city’s contribution to that atmosphere will be a boon for both parties. I’m also looking to tackle Claremont’s employee pension to ensure our dedicated public servants are financially protected once they retire,” Yao said.

A full profile of each candidate will be released ahead of the November 8 election, however, in the interest of giving incumbents an equal voice, each has submitted the following statements for release:

“I am delighted to continue to serve Claremont on the City Council. Claremont is in a much stronger position than when I took office in 2018. I will continue to do what I do best in this campaign and in a second term: providing a positive vision of progress, dignified and accessible leadership , and a renewed focus on our greatest challenges over the next four years,” said Leano.

“Despite the pandemic, I am proud to have delivered on my election promises of four years ago regarding public safety, financial stability, housing, sustainability and transportation. I recognize that there is still much to do, including managing our urban forest, maintaining fiscal stability, improving public safety, thoughtful affordable housing, and more. I look forward to another four years of fruitful collaboration with Claremont staff, fellow councilors and the community to advance our shared vision for our hometown,” said Reece.

“I am running to continue serving Claremont because I feel a deep sense of responsibility and gratitude to our community – a community with a heritage rooted in intentional and managed planning for organized evolution and development. My hope is to learn from our past successes while seizing the challenges and opportunities that come with living in a complex world. By balancing the gifts of our heritage with courageous change management and forward-thinking leadership, we will be prepared for uncertainty. I believe that the democratic process is a collaborative and cooperative process, and that by centering our values ​​on fairness, sustainability and community, we all get a more rational chance to prosper and grow towards a healthy future,” said said Stark.

ForgeRock Announces Strategic Partnership with Secret Double Octopus to Expand Passwordless and Multi-Factor Authentication Capabilities Across the Enterprise


SAN FRANCISCO–(BUSINESS WIRE)–ForgeRock (NYSE:FORG) today announced a strategic partnership with Secret Double Octopus (SDO) to extend ForgeRock’s rich passwordless, multi-factor authentication (MFA) capabilities to desktops and computers. business infrastructure.

Initially, ForgeRock will leverage SDO’s technology to enable a unified MFA experience for employees, contractors, and vendors. The new solution, called ForgeRock Enterprise Connect, integrates seamlessly with any ForgeRock deployment option, providing enterprises with the ability to improve the security of workstations, databases, VPNs and servers. The new solution will be showcased this week at the Gartner IAM Summit in Las Vegas at the ForgeRock booth.

The initial product release includes:

  • MFA Workstation – Provides secure access to Windows and Mac workstations with the ForgeRock Authenticator app, with push notifications and a one-time password

  • Desktop Single Sign-On (SSO) – Leverages the same desktop login credentials to connect to the rest of the enterprise for a seamless user experience

  • Remote Desktop MFA – Ensure secure access for virtual and remote Windows desktops with powerful MFA

  • Enterprise Infrastructure MFA – Eliminate unnecessary friction with seamless connection experiences to VPNs, databases, and Unix/Linux servers

“Fighting unauthorized access and credential-based attacks is essential for organizations to protect sensitive data,” said Fran Rosch, CEO of ForgeRock. “This strategic partnership will help accelerate our plans to more comprehensively secure the enterprise against major threats.”

“Secret Double Octopus is thrilled to enter into this strategic partnership with ForgeRock,” said Raz Rafaeli, CEO of Secret Double Octopus. “We look forward to exploring future opportunities to bring new solutions to market that make authentication more seamless and possibly passwordless.”

ForgeRock Enterprise Connect will be available exclusively from ForgeRock.

Going forward, the two companies will share additional information when it becomes available.

About ForgeRock

ForgeRock® (NYSE: FORG) is a global leader in digital identity that helps people simply and securely access the connected world. The ForgeRock Identity Platform provides enterprise-grade identity solutions at scale for customers, employees, and connected devices. More than 1,300 organizations depend on ForgeRock’s comprehensive platform to manage and secure identities with identity orchestration, dynamic access controls, governance, and APIs in any cloud or hybrid environment. For more information, visit www.forgerock.com or follow ForgeRock on social media: Facebook ForgeRock | Twitter @ForgeRock | LinkedIn ForgeRock.

About Secret Double Octopus

Secret Double Octopus is the global leader in next-generation workforce authentication solutions. Its industry-leading Octopus Authentication Platform offers midsize to Fortune 100 companies the ability to transition to a more secure, frictionless and unified authentication solution for MFA and passwordless authentication. From leveraging legacy MFA authenticators to supporting legacy on-premises applications, no other passwordless desktop and enterprise MFA platform offers as much robustness and flexibility as the Octopus solution. The company was named Gartner “Cool Vendor” and most recently named “Best-in-Class” passwordless solution by AITE Group in 2021. Learn more at https://doubleoctopus.com or follow us on social networks: Twitter @double_octopus | LinkedIn secret-double-octopus.

What It Costs To Educate A Child In India And How To Plan For It


Educating a child in a private school in India costs Rs 30 lakh.

In India, raising a child in a private school is expensive.

Although inflation has reached uncomfortably high levels, experts say these figures do not adequately reflect the suffering caused by rising college costs, as this is not part of the mix considered to measure price change on a period.

Educating a child in a private school in India from the age of 3 to 17 costs an incredible Rs 30 lakh, according to ET Online research.

According to the analysts of this research, the expenditure linked to the expansion of private education, which weighs only 4.5% in the consumer price index based on a ten-year-old formula, has not been correctly taken into account in the inflation figures.

According to ET Online research, educating a child in a private school in India from the age of 3 to 17 costs an incredible Rs 30 lakh.

A report in Economic period states that according to EduFund, between 2012 and 2020, the cost of education in India has increased by around 10-12%. Periodic increases not only in tuition, but also in the cost of transportation and exams impact parents’ overall expenses.

The calculations, according to the Economic Times report, were made assuming the students were enrolled in a private school.

Admission fees are a one-time cost associated with enrolling a child in school.

Most schools in Tier I cities have an entrance fee ranging from Rs 25,000 to Rs 75,000. If a second child is enrolled in school simultaneously, some institutions grant parents discounts ranging from Rs 10,000 to Rs 20,000.

Kindergarten and crèche are included in preschool. In most schools in Tier I and Tier II cities, annual tuition fees can range from Rs 60,000 to Rs 1.5 lakh.

The children are enrolled in day care centers where both parents work. In some metros, professional daycare centers charge between Rs 5,000 and 8,500 per day.

Primary school tuition fees range from Rs 1.25 lakh to Rs 1.75 lakh. Parents should budget Rs 5.50 lakh for their children’s primary education.

The average annual tuition fee for the college is between Rs 1.6 lakh and Rs 1.8 lakh, and the total cost is almost Rs 9.5 lakh.

Starting from Class XI, many schools require parents to make separate monthly payments for books of Rs 4,000 to Rs 7,000. It is suggested to budget around Rs 9 lakh for the whole school. secondary education, says the ET report.

Most institutions charge an additional Rs 1,500 to Rs 2,500 per month for transportation. Parents typically spend Rs 25,000 on transport per year, but as fuel prices rise this may change.

Most middle-class parents now start saving early for a college education, which costs even more than school.

The cost of elite higher education is also high. It costs around Rs 4 lakh to Rs 20 lakh to enroll in a top-tier institution for a four-year BTech or a three-year BSc.

Coaching costs for entrance exams like JEE and other tests can cost between Rs 30,000 to Rs 5 lakh.

A professional chartered accountant course costs around Rs 86,000, not including the coaching fee. According to experts, the ET report indicates that parents should start planning for their children’s education as soon as possible.

To properly allocate their savings, parents can allocate their short-term and long-term goals.

Guest comment: Fixed record on paid family leave for teachers


By Joseph DiPasquale

Joseph DiPasquale is Delaware’s nonpartisan candidate for state representative in the 41st district. He resides in Millsboro.

Recently, my opponent in the 41st District, Republican Rep. Rich Collins, criticized Delaware teachers for taking 12 weeks of paid family leave when giving birth or adopting a child. child (“Wisdom of paid family leave questioned,” August 5). Calling it a “financial incentive for teachers to stay home,” he twists the statistics, ostensibly to arouse “concern (that) paid family leave is further handicapping Delaware students who were already disadvantaged after nearly two years of forced distance learning. ”

For example, Rep. Collins treats the 1,184 “school workers” in his discussion of lost instruction time as if they were all teachers. That’s wrong: Delaware’s 9,900 teachers represent less than 52% of public school employees eligible for paid family leave. If all ‘school workers’ and ‘state employees’ take paid family leave at the same rate (an assumption he makes), then only 616 teachers took leave in the fiscal year 2021, i.e. a fraction greater than 6.5%.

Did these new parents cause a significant increase in wasted instructional time? It is prohibitively unlikely. Why? Because Delaware state employees can already bank paid sick leave and take advantage of unpaid time under the federal family medical leave law. In other words, many Delaware teachers already had the potential ability to take those 12 weeks without paid family leave. There is no evidence that the existence of paid family leave for teachers has significantly increased lost teaching hours.

What paid family leave has done is eliminate the specter of financial hardship that causes many women to continue working too late into their third trimester or return to work too soon after giving birth. Current research suggests that pregnancy typically requires four to 16 weeks off work, depending on age and the flexibility of the employment situation.

Often young teachers who have not worked long enough to accumulate substantial sick leave; those susceptible to complications such as gestational diabetes or cervical incompetence; or those who give birth to premature or disabled babies risk missing out on paid sick leave altogether. Their families are placed in the position of deciding between health risks and unsustainable loss of income, and so many may never be able to return to their classrooms.

It is adding insult to injury to characterize these teachers by innuendo as being pedagogically “inferior” and making excuses to “stay at home”, seemingly indifferent to the fact that they are inflicting “stress increased to employees without children.

The legitimate question regarding paid family leave for state and school district employees is how we pay for it, which has obvious answers.

Delaware could have generated more than enough funding to guarantee paid family leave by legalizing cannabis and taxing its sale, as many other states have done. To their credit, a large majority in the General Assembly voted for it, but Governor John Carney and Rep. Collins, in a bizarre display of negative bipartisanship, united to scuttle it.

The overall tone of Representative Collins’ article is tinged with unintended irony. In other forums, he argued that abortion should be banned because American women “just don’t have enough babies” and we “remove” fetuses “before they have the chance to become those people we need to support”. we.”

Nor does it dispute the state’s assertion that “newborns of mothers on paid leave were more likely to be breastfed, receive medical exams, and receive essential vaccinations” and “ increased the likelihood that women would return to work after childbirth.

As an “average Joe,” I struggle to demand a commitment to having more babies, while arguing against allowing them to receive the best pre and postnatal care.

I’m also deeply skeptical that, if you really think most teachers are mediocre failures, you think forcing them back into the classroom as soon as possible after giving birth will improve academic outcomes.

We have a teacher crisis: Too many of the best are leaving the profession because of appalling working conditions, politicized ‘accountability’ measures and politicians who believe students will get better at math and reading if we need cameras in the classrooms, while making them pass a course on “the evils of communism”.

Paid family leave for teachers is one of the few positive steps the General Assembly has taken to stem the bleeding, while treating them as if their health and that of their children matter.

We need to keep looking for more sensible and fiscally responsible initiatives that “average Joes” like me can understand and support.

Business Insights: Back-to-School Insurance Tips | Local business news

Summer is coming to an end and the start of the school year is fast approaching.

As the parent of two college students and a recent graduate student, I understand how exciting this time is for students and parents.

Whether you’re a fresh high school graduate heading into college or a nervous parent preparing for your child’s first day, it’s important to review your insurance policies to make sure your entire family is properly covered.

During this busy time of year, I want to remind Oklahoma residents that having the right insurance can provide them with greater peace of mind throughout the year and protect their families from a financial disaster.

Here are some insurance tips that parents and students should consider before going to school.


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If your student is moving into a dorm, your home insurance policy will likely cover their belongings in case of loss.

Ask your child to let you know if they are buying a new computer or other expensive items. You will need to check with your insurance company to make sure your coverage will take care of these things.

Students living off campus should consider tenant insurance. This coverage will protect student property and protect them if someone is injured on the property.

Renters insurance premiums range between $15 and $30 per month, depending on the location and size of the rental unit and the value of the property. Whether they live on campus or off campus, a home inventory is a good idea. The list of items will make a future insurance claim faster and easier to settle.


Oklahoma requires every car to have automobile liability coverage or meet the financial responsibility requirements of Oklahoma law.

Automobile liability insurance pays for property damage and bodily injury to someone else if you are found at-fault in an accident, up to policy limits.

If the title of the car is in your student’s name, it will need to have its own policy. If your student drives a vehicle you own, your child can probably stay on your policy.

If your student travels to college without a vehicle, you may be eligible for a discount on “student absent from school” car insurance. Check with your insurance agent or insurance company and let them know where the car will be stored if the address differs from the one on the policy.


Students have several health insurance coverage options while in college. If your children are covered by your insurance now, chances are they will still be covered while they are in school. Any insurance plan that provides coverage for dependents must make it available until the dependent turns 26.

Many colleges and universities also offer their own student health insurance plan. Bonuses and features vary widely from school to school. Check with your student’s school health center to see what coverage options are available.

Insurance claims denied

If your family is facing a claim denial or settlement disagreement, you can file a complaint at oid.ok.gov. The Oklahoma Department of Insurance Consumer Assistance Team mediates claims between policyholders and insurance companies.

If you have questions about other insurance issues, please contact the Oklahoma Department of Insurance at 1-800-522-0071 or visit the website.

Glen Mulready is Okahoma’s insurance commissioner.

Encore Wire Elevates to Top Industry Winners, Rocket Lab Replaces Winner Tag with #1 Loser


MicroStockHub/iStock via Getty Images

The week saw no outlandish gains among industrial stocks with Encore Wire leading the way as winners, while Rocket Lab and two others in last week’s top five list landed among this week’s losers.

The S&P 500 collapsed off a four-week winning streak and saw six of 11 S&P 500 sectors in the red. For the week ending August 19, the SPDR S&P 500 Trust ETF (TO SPY) has been -1.16%. Since the beginning of the year, SPY has -11.12%. The Select Industrial Sector SPDR (XLI) also decreased (-1.00%) ending four consecutive weeks of gains. Since the start of the year, XLI has been -6.59%.

The top five gainers in the industrials sector (stocks with a market capitalization of over $2 billion) all gained more than +3% everyone this week. However, since the beginning of the year, only three of these five titles are in the green.

Again Yarn (NASDAQ: WIRE) +7.35%. The Texas-based company was back in the top 5 gainers after three weeks, having also slipped into the bottom five two weeks ago. The title gained the most on August 18 (+6.84%) this week. SA’s quantitative rating on stocks is Strong Buy, which takes into account factors such as valuation and profitability, among other things. Wall Street’s average analyst rating is consistent with its own strong buy rating, in which 2 out of 2 analysts rate it as strong buy. Since the beginning of the year, WIRE is –1.70%one of two stocks in this week’s top five that are in the red for the period.

NV5 Global (NVEE) +5.86%. The Hollywood, Fla.-based company, which provides engineering and consulting solutions, saw its stock gain for six consecutive trading days (August 10 – August 17). Since the beginning of the year, the NVEE has increased +2.86%. The SA quantitative rating on the stock is Strong Buy, with profitability having a factor rating of B and growth with a rating of C-. The average Wall Street analyst rating is Buy, in which 2 each mark its strong Buy and Buy while 3 see the stock as Hold.

The chart below shows the year-to-date price-yield performance of the top five winners and the SP500:

AeroVironment (AVAV) +4.79%. The Arlington, Virginia-based drone maker has won a contract with the U.S. military for a JUMP 20 unmanned aircraft and also acquired air navigation solutions provider Planck Aerosystems this week. AeroVironment was among the top five performing industrial stocks (in this segment) in H1 (+32.90%). Since the beginning of the year, AVAV has won +65.44%, the most among the top 5 winners this week. The average Wall Street analyst rating for AVAV is Buy, with an average price target of $96.25. The rating contrasts with the SA Quant Rating of Hold, with Valuation having a factor rating of D- and Growth having a rating of D.

FTI Council (FCN) +4.28%. The Washington, DC-based company was back among the top gainers after being among the five worst-performing stocks about three weeks ago following its second-quarter results. Since the beginning of the year, the title has increased +11.56%. the SA Quant rating on FTI is Hold, which differs from Strong Buy’s average Wall Street analyst rating.

Aerojet Rocketdyne (AJRD) +3.81%. The California-based company gained following a report that Elliott Investment Management took a new stake by acquiring 3M shares in the defense systems maker. The SA Quant rating on the stock is Hold, which contrasts with the average buy rating from Wall Street analysts. Since the beginning of the year, the AJRD has paid -5.69%the only other title apart from WIRE which is in the red over this period.

This week’s top five declines among industrial stocks (market cap over $2 billion) all lost more than -14% each. Since the start of the year, three of these five stocks have been in the red.

Rocket Lab USA (NASDAQ: RKLB) -19.15%. The California-based launch services provider could not stem its stock decline despite being called outstanding among its launch peers by Morgan Stanley, which remained bullish on the stock. RKLB was among three stocks of last week’s top 5 gainers that landed among this week’s losers. The SA quantitative rating on the stock is Strong Sell, with profitability having a D- factor and valuation with a D-factor. The average Wall Street analyst rating differs from a Buy rating, in which 4 analysts on 8 qualify it as a purchase. Since the beginning of the year, RKLB has fallen -53.26%the most among the five worst this week.

Enovix (ENVX) -16.22%. The Fremont, Calif.-based lithium-ion battery maker pared some gains made during the six-day trading rally (August 9 – August 16). For the week ending August 12, the stock had soared +57.88%but since the beginning of the year, ENVX has lost -30.13%. The SA quantitative rating on stocks is Hold, with profitability having a D factor rating and growth with a B rating. view the stock as a strong buy.

The chart below shows the year-to-date price-yield performance of the five worst declines and XLI:

Bloom Energy (BE) -16.15%. The San Jose, Calif.-based company – which provides a power generation platform – ended its winning streak by breaking into the top five for three weeks in a row. The stock fell the most this week on August 16 -14.30% after the company launched a common stock offering to raise approximately $338 million. The title won +26.39% last week, and YTD increased +16.46%. Wall Street analysts’ rating on BE is Buy, where 6 out of 18 analysts consider it a strong buy. The SA Quant rating differs with a Hold rating, profitability having a D factor rating and valuation with a D- score.

Ballard Power Systems (BLDP) -16.05%. The Canadian fuel cell system developer’s stock fell throughout the week, the most on August 19 (-8.17%). The average Wall Street analyst rating for BLDP is Hold, where 14 out of 23 analysts backed the stock as Hold. The rating contrasts with the Quantitative Rating SA of Selling, with Valuation getting a factor rating of C and Profitability with a factor rating of D-. Since the beginning of the year, BLDP has paid -40.05%.

Elbit Systems (ILEC) -14.13%. The Israeli aerodefense company’s stock fell to its lowest level in 5 weeks after its second quarter results. ILEC fell throughout the week despite winning two contracts worth $240 million to upgrade main battle tanks for an international client. ILEC was among the top five winners in June and for the first six months of 2022 (in this segment). Since the beginning of the year, the title has won +20.46%, the only stock outside of BE on this week’s list of decliners that is in the green for this time frame. The SA quantitative rating and the average Wall Street analyst rating, on ILEC, are Hold.

Cost of living: Grim new forecast predicts energy bills of £6,000 a year

Experts warn of household energy bills of £6,000 a year from next April

Energy prices could soar by up to £6,000 a year for the average household from next April, experts have warned

Consultancy Auxilione has predicted the bill price cap will gradually increase by more than £4,000 over the next eight months.

They said the cap is expected to hit £3,576 in October, rise to £4,799 in January and eventually hit £6,089 in April.

The new forecast is an increase of £96 in January and £233 in April from the last one.

The cap is currently £1,971 for the average household.

Households that consume more than the average pay more for their energy bill.

The forecast, based on Friday’s petrol prices, is another blow to families across Britain and will put further pressure on the government to act.

About 45 million people are expected to be in fuel poverty this winter.

Millions of homes are likely to be kept freezing cold as people try to save what little they can on their energy bills.

The increase in the ceiling is due to the surge in the price of gas on the European markets following the limitation of Russian supply following the invasion of Ukraine.

It was triggered about a year ago as demand for gas soared as economies emerged from Covid-19 lockdowns.

Auxilione predicts bills will slowly decline in the second half of next year, to £5,486 in July and £5,160 in October 2023.

Tech stocks lead Wall Street lower, breaking winning streak | app


Ap Business Writers

Wall Street capped off a choppy week of trading on Friday with a broad decline in stocks that left major indexes in the red for the week.

The S&P 500 closed down 1.3%, snapping a four-week winning streak. Shares of more than 80% of companies in the benchmark fell, with tech stocks driving much of the pullback.

The tech-heavy Nasdaq composite fell 2% and also ended four weeks of gains. The Dow Jones Industrial Average fell 0.9%, ending slightly in the red for the week. Small company stocks also lost ground, driving the Russell 2000 Index down 2.2%.

Friday marked the market’s biggest sell-off, including the S&P 500’s biggest drop in more than seven weeks, after a strong run of weekly gains. The strong market rally in July and early August followed better-than-expected corporate earnings and signs of a slowing economy, perhaps paving the way for less aggressive rate hikes, the main policy tool. the Federal Reserve to control soaring inflation.

Minutes of the central bank’s interest rate policy meeting last month and recent statements from Fed officials seem to indicate that the Fed may not yet be ready to abandon its rate hike pace, said Quincy Krosby, chief equity strategist for LPL Financial.

“It put the market on notice that it may have to deal with a Fed that continues to raise rates at a steady pace and may not stop and let up the pedal,” he said. she declared.

This gave traders “the perfect excuse to finally start burning” some of the market’s recent gains.

The S&P 500 fell 55.26 points to 4,227.48. It ended with a loss of 1.2% for the week and is now down 11.3% so far this year.

The Dow Jones lost 292.30 points to 33,706.74, while the Nasdaq slipped 260.13 points to 12,705.22. The Russell 2000 gave up 43.38 points at 1,957.35.

Tech stocks suffered some of the biggest losses, and the sector’s decline weighed heavily on the market as a whole. Microsoft fell 1.4%.

Retailers, banks and communications companies also fell sharply amid the general decline.

meme stock Bed bath and beyond fell 40.5% after top activist investor Ryan Cohen confirmed he had sold his stake in the company.

Cryptocurrencies fell sharply as Bitcoin fell 8.5% to $21,370, according to CoinDesk.

Positives included General Motors, which rose 2.5% after restoring its dividend. Foot Locker soared 20% after replacing its CEO and reporting earnings above Wall Street estimates.

Bond yields gained ground, reflecting expectations of further interest rate hikes. The 10-year Treasury yield rose to 2.97% from 2.89% on Thursday evening.

Traders had no shortage of business and economic data to review this week, including the latest batch of retailer earnings and updates on spending, home sales and the job market.

Major retailers, including walmart and Target warned investors that inflation is dampening consumer spending. The owner of the Macy’s department store will release its results next week.

A retail sales report this week has shown that spending remains resilient as gasoline prices fall and help ease some inflationary pressures.

Wall Street is trying to gauge how stubbornly high inflation is affecting businesses and consumers and whether the economy can remain resilient and avoid a recession.

Data from government and corporate reports are also being closely watched as investors try to determine how the Federal Reserve will continue its plan to fight inflation by raising interest rates. The objective is to raise rates and slow economic growth to calm inflation. But the central bank is drawing a fine line between controlling inflation in an already slowing economy and braking too hard and tipping the economy into a recession.

Minutes from the Fed’s July meeting released this week indicate that inflation is still too high and make it clear that the central bank will continue to raise interest rates. The central bank has raised interest rates twice this year by 0.75 percentage points, triple its usual margin. Forecasters are currently expecting a hike of half a percentage point at the next board meeting.

Wall Street will be closely watching Federal Reserve Chairman Jerome Powell’s speech next week at an annual conference in Jackson Hole, Wyoming.

“The question is does he engage the market with his assessment of the direction of inflation, the progress the Fed is making and does he offer any suggestion on the direction of rate hikes?” said Crosby.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Republican candidates want to turn Florida’s District 23 from blue to red

Republicans are hoping for a red wave in November and seven candidates are in the August 23 primary ballot to try to overthrow the Democratic seat in District 23.

US Representative Ted Deutch leaves Congress after six terms to become the executive director of the American Jewish Committee, an advocacy organization. Republicans want to flip that seat as part of the party’s effort to take control of the US House.

The fight for District 23 includes one of the largest pools of candidates this election cycle. After the redistricting, the district traded some votes in Deerfield Beach for more in Parkland; both are towns in northern Broward County.

Voting Guide: The Ultimate Palm Beach County Voters Guide to the 2022 Primary Elections

Amendments: Key Endorsements from the Palm Beach Post Editorial Board in Florida

Elections 2022: Why mail-in voting in Florida is more complicated, constrained in 2022

Most candidates are involved in Republican party politics. Joe Budd is the founder of Club 45, a non-profit organization dedicated to supporting former President Donald Trump. Christy McLaughlin was a grassroots organizer for the party and interned for a Republican U.S. Representative.

At a July 26 Republican candidates forum, with an audience of about 100, organizers conducted a straw poll that resulted in a tie between Budd and Jim Pruden, a former attorney who also ran in 2020 for a position in Congress.

Another rival, Darlene Swafar, racked up more endorsements in her campaign than most of her competitors. She and Pruden both raised a campaign contribution exceeding $220,000.

Steven Chess, a retired chiropractor, raised nearly $100,000 to $135,000 less in contributions than Pruden and Swafar.

The other two candidates are Ira Weinstein and Myles Perrone.

The Palm Beach Post conducted a criminal background check on each candidate. The Post reports all criminal charges filed and the outcome of cases since January 2012, even when they did not result in a conviction.

Joe Budd, 2022 Republican primary candidate for the 23rd congressional race

Joe Bud

Age and residence: 59, Boca Raton.

Main campaign priorities: Budd underlined his belief in returning to energy independence to “solve much of the economic problems caused by the policies of the Democratic Party”. He suggested drilling at Anwar in northern Alaska, finishing and opening the Keystone XL pipeline, opening up more federal lands for oil and gas leases, and stopping “EPA foolishness and environmentalists’ overreach.”

Employment history: Budd has owned a business, Health and Wealth Partners, since 2015. He has also been a Registered Representative of Lincoln Financial Securities Corporation since 1993.

Political context: Budd is the president and founder of Club 45, a nonprofit dedicated to supporting Trump’s agenda. He is currently a member of the Palm Beach County Republican State Committee.

Education: Budd’s highest education is a high school diploma.

Criminal history: None.

Amendments: Budd is supported by Florida Family Action, the Broward County Police Benevolent Association, former Congressman Allen West and Andrew Pollack, the father of Parkland Meadow student Pollack, who died in a high school mass shooting Marjory Stoneman Douglas in 2018.

Finance: Budd’s contribution receipts total over $103,000, including approximately $54,000 in individual contributions and $49,500 in loans.

Darlene Swafar, Republican candidate in the 2022 primary for the 23rd congressional district

Darlene Cerezo Swafar

Age and residence: 55, Deerfield Beach

Main campaign priorities: Swafar’s top campaign priorities include reforming or removing Section 230, which grants legal immunity to online platforms; promote financial and fiscal responsibility in Congress; and give more power back to the states.

Employment history: Swafar has been a Medicare insurance broker and owner of Sunshine Insurance Associates for nearly 12 years.

Political context: Swafar won the Hispanic Republican National Assembly Speaker’s Award for Conservative Excellence in October 2021.

Education: Swafar received her associate’s degree in business administration from St. John’s University and took classes at Florida International University, where she said she was one class away from graduating.

Criminal history: None.

Amendments: Swafar is endorsed by Veterans for America First, Latinos for America First, United Christians for America, Restore Liberty, Florida Hispanic Republican National Assembly and Lt. Gen. Michael Flynn, retired U.S. Army general and former Trump’s national security adviser who was convicted on charges of investigating Trump’s campaign ties to Russia.

Finance: Swafar’s campaign contributions topped $221,000 as of July 27. Its largest donation is a $35,000 donation from Nancy Layman to Ellijay, Georgia, owner of Zyvax, Inc., a chemical manufacturing company.

Steven Chess, 2022 Republican primary candidate for the 23rd congressional district.

Steven Chess

Age and residence: 72 Fort Lauderdale

Main campaign priorities: Chess said he wanted to push for secure borders, sound tax policies, sound money and a respectful government that works for the citizen and promotes a “fair, impartial and truthful press”. He also said he wants current libel and slander laws updated “so politicians who lie are held accountable”.

Employment history: Chess retired from chiropractor at age 55.

Political context: None.

Education: Chess earned a bachelor’s degree in biology and a minor in psychology from Adelphi University. He started a master’s degree at Stonybrook University, but he didn’t complete the degree. He received his Doctor of Chiropractic from Palmer College of Chiropractic in Davenport, Iowa.

Criminal history: None.

Amendments: Chess said he was “not one to solicit endorsements”.

Finance: Chess campaign revenue totaled over $82,000 on July 28. Most of his campaign is self-funded, and his main donors are retired members of the community.

Christy McLaughlin, Republican candidate in the 2022 primary for the 23rd congressional district

Christy McLaughlin

Age and residence: 26, Deerfield Beach.

Main campaign priorities: McLaughlin’s top campaign priorities include repeal of the federal income tax, pushing for a balanced budget amendment, enforcement and establishment of term limits, creation of a law government on voter ID, completing a US border wall, promoting pro-life legislation and dismantling “unconstitutional departments like the US Department of Education.”

Employment history: McLaughlin was a field organizer in 2018 for the Republican Party, a legislative intern for U.S. Representative Mario Diaz-Balart, R-Miami, in the summer of 2019, and an intern at the State’s Attorney’s Office for three summers from 2016 to 2018.

Political context: McLaughlin ran for Congress in 2020 in the Collier County area. She served on the Republican Executive Committee for Collier County.

Education: McLaughlin earned his bachelor’s degree in elementary education from Florida Gulf Coast University and a teaching certificate. She also obtained her Juris Doctor from Ave Maria Law School.

Criminal history: None.

Amendments: None.

Finance: McLaughlin’s campaign contributions exceed $25,000. One of its major donors is Thomas Monaghan, the founder of Ave Maria University. Other major donors are local community business owners or retired members.

Myles Perrone, 2022 Republican primary candidate for the 23rd congressional district.

Myles Perron

Age and residence: 28, Coral Springs

Main campaign priorities: Perrone’s top campaign priorities include promoting fair elections, bolstering border security and promoting energy independence.

Employment history: Perrone has owned Perrone Irrigation for five years, and prior to that worked in the irrigation industry for the county towns of Broward, Margate and Coral Springs from 2012 to 2017.

Political context: None.

Education: Perrone did not attend university.

Criminal history: None

Amendments: None

Finance: Perrone’s campaign contributions total $10,500, which is self-funded.


James “Jim” Pruden

Age and residence: 68, Park

Main campaign priorities: Pruden said his campaign priorities include reducing inflation, pushing for cuts in foreign aid, eliminating foreign dependency, defending the Second Amendment, establishing federal minimums for crimes, supporting heartbeat legislation for abortions, defending the rights of the state to govern their elections, keeping Israel safe, protecting free speech in the workplace, mandating the program transparency and rethinking and reforming Obamacare.

Employment history: Pruden closed his firm, James L. Pruden PA, in 2019 to be a full-time candidate for Congress in 2020. However, he is still a licensed attorney.

Political context: He ran for the legislative elections in 2020.

Education: Pruden went to Nova Southeastern University for his bachelor’s degree in management and professional studies, his master’s degree in business administration and his juris doctor. He earned an associate’s degree in business management from Prince George’s Community College in Maryland.

Criminal history: None.

Amendments: Pruden is endorsed by America’s First PACT and the Palm Beach Post.

Finance: Pruden’s campaign contributions total more than $224,000, with many of the larger donations being self-funded or from other local lawyers or business owners.

Ira Weinstein, Republican candidate in the 2022 primary for the 23rd congressional district

ira weinstein

Age and residence: 71, Pompano Beach

Main campaign priorities: Weinstein’s campaign priorities include promoting the fossil fuel industry, creating jobs, closing borders and strengthening immigration enforcement, promoting parental rights and reversing of inflation.

Employment history : Weinstein is an independent attorney at the Weinstein Law Firm and has managed real estate since 2012.

Political context: None.

Education: He received his bachelor’s degree in economics from Syracuse University and his Juris Doctorate from St. John’s University School of Law.

Criminal history: None.

Amendments: None.

Finance: None were found on the Federal Election Commission or state elections website.

Throwback to ‘X Factor’ Channel 5: ‘Cruel’ show should feel ‘safer’ now, says Joe McElderry


Joe McElderry says The X Factor could do more to create a “safe space for artists” while working on their “follow-up” for singers. This, after saying that the show had gotten tougher over the past few years before it was canceled. Now that there are rumors of his return to Channel 5, McElderry says he hopes substantial changes can be made.

The hitmaker who won the 2009 series, appeared on FURBAR Radio speaking with TOWIE star Bobby Norris and Stephen Leng on popular gossip show Access All Areas.

During their discussion, the conversation naturally turned to the tragic death of former pop star legend and pop idol Darius Campbell Danesh.

The singer was found unresponsive in his Minnesota apartment on August 11, with doctors pronouncing the 41-year-old entertainer dead after arriving at the scene. Rochester local police confirmed there was “no indication of intent of suspicious circumstances”, but further toxicology reports will be made.

READ ALSO : Lil Tjay Update: Shooter’s Lawyer Says No Evidence To Link Rapper’s Shooting Incident

Joe told the hosts that Darius was]such a talent and such a lovely person that his death is so sad and tragic.

Later in the discussion, the conversation turned to the possibility of Simon Cowell’s ITV talent scout making a return after he was axed in July last year.

However, there have been recent rumors that the program could be revamped and be back on another channel in 2023 after a five-year hiatus. With speculation that Simon is in talks with a production company, Joe insisted he would support the shows returning, but adaptations outlined for the show’s stars will have to be made.

He told Bobby and Stephen: “Hopefully if it comes back they make some more changes to make it a little bit safer space for artists in terms of forming contracts and tracking artists and things like that.” He added, “We’re hearing more and more stories about how people have suffered on these shows, and not just on X Factor, but on many other reality shows as well. It’s not just that one.”

In a previous interview, Joe said he thought The X Factor got tougher the longer it aired, until it stopped airing.

“I think they tried to be a little too smart with the format which I think maybe got a little too cruel, with this whole six-chair challenge and telling people they’ve moved on then that they weren’t.”

ALSO READ: Kid Cudi Opens Up About Stroke That Interrupted His Music Career: ‘I Thought I Lost Everything’

© 2015 MusicTimes.com All rights reserved. Do not reproduce without permission.

3 Ways to Keep Your Feet on the Ground as the Cost of Business Rises


Entrepreneurship is booming in black neighborhoods across the country.

2021 saw the highest number of black businesses created in more than two decades and accounted for 25% of all businesses founded nationwide. Owning a business is one of the fastest ways to build wealth for black American households. And while starting a business is tough, especially when faced with today’s challenges like inflation, supply chains and labor shortages, the benefits of owning a business are numerous.

Additionally, black entrepreneurs are more optimistic about the future of their business than any other small business group, according to the Seek insights from business leaders. If you’re a business owner or thinking about starting a business, one of the best things you can do as an entrepreneur is to invest in yourself and your business. As you hear more about inflation and the economy in the news, now is the time to check in on your business’ financial health and lay a solid foundation for long-term success. Here are three suggestions to consider.

Rise above the cost of doing business

There are creative ways to combat higher costs that can help lessen the impact on your customers. For
For example, some business owners tend to opt for a combination of cutting non-essential expenses and
increase the prices of certain products and services only. You can also consider adopting other tactics,
such as buying smaller inventory orders or ordering in bulk, investing in new technology to streamline operations, diversifying or changing suppliers, changing the products or services you offer, and obtaining financing to help with cash flow or refinance debt on a business loan. When it comes to financing, always talk to a banker who can help you explore competitive or flexible loan rates and understand which options are best for your business.

Collect the rewards

Whether supplies, inventory, utilities or payroll software, these essentials are recurrent and operational
expenses related to running a business. Rather than dipping into your working capital to pay
them, you can consider using cashback. Some cards allow you to redeem for cash back in the
form of a credit statement to be applied to your business credit card balance. It can help maintain your
workflow even as costs rise.

Your team is your greatest asset as a business owner. Consider investing not only in their training and
development but also their happiness. Redeem your business credit card rewards for a gift
cards to employees of the month or collect cash back to offer surprise bonuses throughout the

Make the most of downtime (for personal development)

As an entrepreneur, it’s sometimes easy to forget to invest in personal growth and focus on the
business at the same time. Fortunately, there are a number of resources to tackle both – and sometimes it can
go through your bank.

For example, JPMorgan Chase offers many helpful programs designed to empower black entrepreneurs,
including through our Advancing Black Pathways initiative. We’ve developed Advancing Black Entrepreneurs, an educational program that offers practical advice and resources to help business owners navigate challenges and prepare for long-term success.

To celebrate the vast contributions of black small businesses around the world during Black Business Month,
we’ve also compiled a list of businesses to consider shopping with this month and beyond, including
Miami-based JNYC Jewelers, Atlanta-based Play Pits, Harlem Candle CompanyTeas with Meaning in Oakland, California, and Lush Yummies Pie in Detroit.

This year, after a two-year hiatus, the Chase Business Insight Seminar brings growth strategies, networking opportunities and business tools to owners nationwide. Additionally, entrepreneurs can now enroll in free one-on-one coaching for three to six months and work with a Chase Certified Senior Business Consultant to help them prepare for credit, improve business efficiency, get a free MBE certification, and more.

For more resources and tools on how to start, run and grow your business, as well as grow your
business leadership skills, visit the Chase Business Resource Center. JPMorgan Chase Bank, NA Member

Florida court tells 16-year-old girl she’s not ‘mature’ enough to have an abortion

“Jane Doe 22-B” is 16 years old, pregnant and without parents, and is seeking legal circumvention to obtain an abortion in the State of Florida. She is pursuing a GED through a program specifically designed to help young women who have experienced trauma. She has no job and cannot count on her father to help her. She told a judge, according to court documents, that she was ‘not ready to take on the emotional, physical or financial responsibility of raising a child’ and ‘has valid concerns about her ability to raise a child. “. Nevertheless, a Florida appeals court recently upheld a ruling that Jane “failed to establish by clear and convincing evidence that she was mature enough to decide whether or not to terminate her pregnancy.”

Jane’s initial request for an abortion was initially denied by Escambia County Circuit Judge Jessica Frydrychowicz and upheld by a three-judge appeal panel consisting of Harvey Jay, Rachel Nordby and Scott Makar , the latter of which partially disagreed with the opinion even as he simultaneously partially agreed and sheds light on what he believes motivated Frydrychowicz’s decision.

“The trial judge denied the motion but explicitly left open the possibility of further proceedings,” Makar wrote. “Reading between the lines, it appears the trial court wanted to give the minor, who was under additional stress due to the death of a friend, additional time to express a better understanding of the consequences of a hiatus. of pregnancy.”

Florida has fewer abortion bans than neighboring states, but it has become increasingly restrictive under Governor Ron DeSantis.CHANDAN KHANNA/AFP/Getty Images

He went on to point out that Jane, who was ‘inexplicably’ unrepresented by a lawyer, has the right to pursue her right to terminate her pregnancy, especially in light of Jane’s report that her guardian supports her decision. .

“Given the open-ended nature of the order reflecting the trial judge’s desire to rehear the minor – and the time constraints presented – I would refer the matter back to the trial court,” he said. he writes. “If the guardian of the minor consents to the termination of the pregnancy of the minor, a written waiver from the guardian suffices. (…) Such a written waiver would be self-executing, which means that the minor would not need to invoke the judicial circumvention procedure at all.

As of 2020, Florida is one of six states that require minors to obtain notarized parental notification and consent in order to have an abortion, although asking the courts for a “court bypass” is one option in which a minor would not have to inform his parents/guardian. . According to Politico’s analysis, the vast majority of these judicial overrides – about 91% – are granted. Jane lives with a parent, but has a guardian appointed by Florida child welfare authorities, who Jane says supports her decision to terminate her pregnancy, but it appears she did not provide consent official writing. (This is most likely the result of Jane’s guardian being more legal in nature rather than someone she lives with and can easily ask for help.)

But even if Jane is able to pursue this course of action, time is running out. After 15 weeks, abortion is illegal in the state of Florida (although this law is currently being challenged in court), and surrounding states are even more inhospitable to abortion rights.

An 18th century letter to Bombay shows what it was like to serve in the East India Company


In August 1720, the East India Company council in Bombay received a letter from their factors and merchants based in the town of Mocha. They had been waiting for this letter for some time. It was the practice for the factory staff to report regularly on their activities as Moka was the warehouse for Yemen’s coffee markets, in which the company had invested heavily.

The letter contained expected business news from the factory and developments in the political situation in Yemen, which had become increasingly tense in recent years. Despite all this, the East India Company’s investment in coffee was paying off, and the Council could feel at ease knowing that their men in Moka were handling their affairs well.

This letter was accompanied by a list of the factory’s expenses, the salaries of the guards and servants, the salaries of the company’s four merchants, and the running costs of the factory itself. One of the most important of these was the expense incurred in maintaining the factory’s “Table” which amounted to almost 300 Spanish dollars per month (the famous piece of eight).

It was a considerable sum to feed the 22 residents of the factory, including the Eurasian “topas” and “peon” guards. Access to the table was also open to English merchants and visiting ship’s officers when present in port, making it a space for social interactions in addition to eating and drinking.

Social forum

The archives kept by the Mocha factors tell us a lot about what the table would have been loaded with. For the most part, this seems like a fairly standard dish for modern English cuisine: greens, salt, beef, onions, limes, mutton and fresh fish appear regularly, as do poultry, chickens, pigeons and eggs. To this menu were added some local flavors, with lime, “spiciness” and “temperament”.

The latter is particularly interesting, as a temper, Tadka or Tarka, is a distinctive feature of South Asian cuisine, where spices are mixed with oil or ghee and then strained, leaving a flavored medium.

So while some factory dwellers may have been happy to stick with familiar flavors, others regularly sampled local flavors. In addition, the factory received regular shipments of Persian wine, as well as beer produced in Cape Town. Wine was so important to the factory that the letter received from Mocha protests that it had been two years since they had received any from the East India Company. Instead, they had been forced to buy their own, rather than go without.

The content and habits around the table of the East India Company can tell historians a lot about merchants’ attitudes to sociability. The table was a forum for cultivating relationships with factory personnel, while inviting travelers and visitors to make new connections. The East India Company’s pay may have been poor, but service at Moka, as at other factories, came with significant benefits.

Studying the details of conditions in factories beyond India can provide much texture and depth to our understanding of the lived experience of East India Company service while giving a sense of the daily routines of merchants themselves. The factory was a place of commerce, but also a domestic space.

This article was first published on the British Library’s Untold Lives blog.

Buy term plan at no cost if you want a return, experts say


Two types of term insurance plans have been available in the market so far. One is the plain vanilla plan where if a person dies during the term of the policy, their nominee receives the sum assured. If he survives, he gets nothing. The second is the Return of Premium (RoP) plan. The essential difference between these plans is that in the latter, if the insured survives the term of the policy, he gets back all the premiums he has paid. RoP plans are about twice as expensive as pure term plans.



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First published: Wednesday, August 17, 2022. 00:03 IST

After four years, Scott McDonald resigns as ULM sports director

Scott McDonald has resigned as Louisiana-Monroe athletic director, the university announced Monday.

He will officially step down from all duties effective Sept. 1, marking four years of his time with the Warhawks. An interim DA has not been announced as the nationwide search for a replacement begins.

“Over the past four years, I have seen the athletic department grow and succeed on many different fronts,” McDonald said in a school statement. “With the near completion of a comprehensive sports strategic plan, I believe the time is right to step back into the financial services industry and give new leaders the opportunity to execute a well-crafted plan for athletics.”

FALL CAMP:Natives of the parish of Ouachita win scholarships during the first day of ULM football training

SBC MEDIA DAY:‘We expect to go bowl’: Terry Bowden breaks down ULM football at Sun Belt Media Day

McDonald was in the financial services industry for 35 years before joining the staff of ULM, specializing in commercial banking. He took over as AD in 2019 after serving as Acting Administrative and AD Director.

“Under Scott’s leadership, ULM has experienced tremendous growth and success in our athletic programs, facilities, academics, staff, athletes, coaches and funding,” said the ULM President. , Ron Berry. “He has positioned us well to take us to the next level of competition on and off the pitch as we continue to strive for excellence in everything we do.”

Although he was heavily involved in the world of Warhawks athletics before taking on AD responsibilities, McDonald said the past four years have been a relay race.

“My responsibility was to run as long and as fast as possible and put this team in a better position,” McDonald said. “I feel like our athletic department is in a tremendous position right now and it’s time for me to hand over to the next leader.”

McDonald’s management

In the last three years that McDonald served as athletic director, ULM athletics has seen its impact on the community grow, both in the classroom and on the field.

Achievements outside of sports are his proudest accomplishment, McDonald said, including a 3.36 GPA among various teams in the spring of 2022.

He was notably responsible for hiring football coach Terry Bowden.

“We’ve worked very, very hard since I’ve been here,” Bowden said. “He will be very difficult to replace.

Emely Hernandez covers high school athletics and sports at the University of Louisiana-Monroe. Email her at [email protected] and follow her on Twitter @emhernandeznews.

9 Meters Biopharma Provides Business Update and Reports Second Quarter 2022 Financial Results

  • Announcement of Positive Preliminary Results from the VIBRANT Phase 2 Study of Vulolenatide in Short Bowel Syndrome
  • Vulolenatide end-of-phase meeting with FDA on track for Q3
  • Cash balance as of June 30, 2022 of $29.5 million; Additional $20 million from debt financing previously announced in July extends cash trail through Q4 2023

RALEIGH, NC /ACCESSWIRE/August 15, 2022/ 9 Meters Biopharma, Inc. (NASDAQ:NMTR), a clinical-stage company pioneering innovative treatments for people with rare or debilitating digestive diseases, today provided an overview of its recent achievements, milestones ahead and financial results for the second quarter ended June 30, 2022.

John Temperato, President and CEO of 9 Meters Biopharma, said, “The highlight of the second quarter was the announcement of positive preliminary results from the Phase 2 VIBRANT study evaluating vurolenatide in adult patients with short bowel syndrome. We believe these preliminary results support the safety and efficacy of vurolenatide and look forward to our end of phase 2 meeting with the FDA this quarter. Based on the product profile that we believe is supported by our clinical data to date, we believe that vurolenatide has the potential to play a critical role in the first-line treatment of patients with SBS. Pending the results of our meeting with the FDA, we look forward to initiating our phase 3 study with vurolenatide.

Mr. Temperato continued, “In addition, this quarter was also an opportunity to make important and informed decisions regarding larazotide for celiac disease. Although we are disappointed with this result, we are convinced that this is the best decision for the company and its shareholders, and that it will allow us to redirect our financial resources and concentrate all our support on the phase 3 of vurolenatide SBS.

Clinical Development and Commercial Highlights

Announcement of positive preliminary results from the phase 2 study of vurolenatide in short bowel syndrome (SBS)

  • On June 30, the Company announced positive preliminary results from the Phase 2 trial known as VIBRANT (VurolenateIto make it short BOwl’s Syndrome Rwhatever pAneed rental assistanceNT) to assess the safety, efficacy and tolerability of vurolenatide in adult patients with SBS.
  • Preliminary study results confirm the safety and efficacy of vurolenatide and have identified a dose and dosing range to move into Phase 3 development.
  • An end-of-phase 2 meeting with the FDA is on track for Q3 2022.
  • A phase 3 study for vurolenatide could start as early as the fourth quarter of 2022 pending the results of the end of phase 2 meeting; study plans including site identification and recruitment are underway.

Interim Analysis of Phase 3 Trial of Larazotide for Celiac Disease

  • On June 28, the Company announced that an interim analysis of CedLara® Phase 3 (Thisliar Dit’s a disease Laurazotide) evaluating the safety and efficacy of larazotide in patients with celiac disease did not support continuation of the trial. Following an in-depth analysis of the interim data from the CedLara® study, we are stopping the development of larazotide in celiac disease.

Phase 2a study of larazotide for multisystem inflammatory syndrome in children (MIS-C) resulting from COVID-19 is ongoing

  • A phase 2a randomized, double-blind, placebo-controlled study is underway in collaboration with the European Institute for Biomedical Research in Salerno, Italy (EBRIS), which is conducting this study.

Preclinical pipeline update

NM-102 (proprietary tight junction microbiome modulator)

  • 9 Meters collaborates with Gustave Roussy, a leading cancer center in France. Gustave Roussy develops preclinical research showing that NM-102 was effective when combined with immune checkpoint inhibitors (ICI) in a mouse model of aggressive cutaneous melanoma and, in combination, improved survival compared to ICI alone. Additional data is expected in 2022.
  • The company is also collaborating with NYU Langone Health to investigate the preclinical use of NM-102 for an undisclosed autoimmune disease with significant unmet need.
  • Preclinical work is underway to support a possible IND (Investigational New Drug) filing in 2023.

NM-136 (humanized anti-GIP monoclonal antibody)

  • NM-136 is a long-acting, highly specific humanized anti-GIP monoclonal antibody. Preclinical work is underway to support a potential IND in 2023.

Second quarter 2022 financial results

As of June 30, 2022, the Company’s cash and cash equivalents totaled approximately $29.5 million, compared to approximately $37.2 million as of March 31, 2022.

On June 30, the Company entered into a senior secured convertible credit facility of up to $70 million as part of an overall financing strategy to support the continued development of vurolenatide for short bowel syndrome by through an NDA submission. The company has raised an initial net amount of $20 million upon closing of the convertible bond on July 15, 2022 and has the option to access up to an additional $50 million in tranches of $5-20 million per quarter over an 18-month period, provided the company meets certain requirements, including raising additional capital.

The Company reported a net loss of approximately $11.1 million, or $0.04 per share, for the second quarter of 2022, compared to a net loss of approximately $11.4 million, or 0, $04 per share, for the first quarter of 2022 and $8.3 million, or $0.03 per share for the second quarter of 2021. The actual change in cash for the second quarter of 2022 was 7. $7 million, the difference between cash and reported earnings being due to non-cash stock compensation expenses and a major equity milestone for EBRIS related to the larazotide study in MIS-C.

Taking into account the initial drawdown of $20 million at the closing of the loan facility, the Company would have a pro forma balance of cash, cash equivalents and restricted cash of $49.5 million at 30 June 2022, and a cash trail expected in the fourth quarter of 2023.

Main milestones planned in the short term

  • End of Phase 2 meeting with the FDA, with additional plans and timeline for the Phase 3 study expected to be disclosed by the end of the third quarter.
  • The VIBRANT-2 phase 3 study is expected to start in the fourth quarter of 2022.
  • Additional data expected from the Phase 2a study of larazotide in MIS-C.
  • Additional data expected from the Gustave Roussy Collaboration evaluating NM-102 combined with immune checkpoint inhibitors (ICI) in a mouse model of aggressive cutaneous melanoma.

About 9 Meters Biopharma

9 Meters Biopharma, Inc. is a clinical-stage company pioneering new treatments for people with rare digestive diseases, gastrointestinal disorders with unmet needs, and debilitating disorders in which gut biology is a factor contributory. 9 Meters is developing vurolenatide, a proprietary long-acting Phase 2 GLP-1 agonist, for SBS; larazotide, a tight junction regulator in MIS-C; and several assets close to clinical stage.

For more information, visit www.9meters.com or follow 9 Meters on Twitter, LinkedIn and Facebook.

Forward-looking statements

This press release contains forward-looking statements based on 9 Meters’ current expectations. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, forecasts, anticipated milestones, and any other statements relating to our future business or other events or future conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements due to various risks and uncertainties, which include, but are not limited to: risks relating to our ability to successfully implement our strategic plans , including dependence on our lead product candidate; uncertainties associated with clinical development and regulatory approval of product candidates, including reliance on blinded data; uncertainties regarding the achievement of positive clinical results for product candidates and the unanticipated costs that may result; risks related to 9 Meters’ inability to raise sufficient additional capital to continue to advance these product candidates and its preclinical programs, including in light of current market conditions; risks related to the inability to realize any value from product candidates and preclinical programs in development and planned in light of the inherent risks and challenges of bringing the product candidates to market; intellectual property risks; the impact of COVID-19 on our operations, clinical trial enrollment and timing; risks relating to the Company’s leverage in borrowing money under the Credit Facility and compliance with its terms; Nasdaq delisting risk; dependence on co-workers; dependence on research and development partners; cybersecurity and data privacy risks; and the risks associated with the acquisition and development of additional compounds. These and other risks and uncertainties are more fully described in periodic filings with the SEC, including the factors described in the section titled “Risk Factors” in 9 Meters’ Annual Report on Form 10-K. for the fiscal year ended December 31, 2021, as modified or supplemented by our Quarterly Reports on Form 10-Q and in other filings that 9 Meters has made and in future filings that 9 Meters will make with the SEC. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof or as of the dates indicated in the forward-looking statements. 9 Meters expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with respect thereto or any change in events, conditions or circumstances about which such statements are based. .

Corporate contact details
SVP, Investor Relations and Corporate Communications
9 Meters Biopharma, Inc.

[email protected]

Media Contact
Veronique Eames
LifeSci Communications, LLC

[email protected]

THE SOURCE: 9 Meters Biopharma, Inc.

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Vidullanka’s Q1 earnings fall 12% amid higher financial costs – Reuters


Vidullanka PLC posted a profit after tax of 210 million rupees for the first quarter of the financial year 2022/23, down 12% from a year ago. The group recorded revenue of Rs 775 million for the reporting period, an increase of 28% from the first quarter of the year 2021/22.

The group said the decline in profits materialized due to the escalating costs that Sri Lanka is currently facing, including the noticeable increase in financial charges incurred for the period.
The group saw its financial charges increase by 49% year-on-year to reach 111.9 million rupees during the period under review.

However, due to the stable position of the group’s overseas assets, the three-month period recorded 748 million rupees in foreign exchange translation gains, increasing the organization’s total comprehensive income to 966 million rupees, registering a 268% year-on-year increase. Vidullanka PLC’s overseas hydropower operations continue to be the best performing of the group, generating a profit of Rs 253 million on Rs 547 million in revenue for the quarter ended June 30, 2022.

The profit recorded increased by 92% compared to the same quarter of the previous year. Overseas revenue also increased by around 76%, from Rs 310 million. The Company’s overseas operations include Bukinda SHPP and Muvumbe SHPP located in Uganda.

Gross profit generated from local hydropower declined by a profit figure of Rs 130 million and revenue decreased to Rs 185 million from Rs 246 million recorded for the comparative period of the previous year. The dendro and plantation arm of the group reported a net loss of Rs 41 million for the
same period.

The group has active commitments in terms of several projects in the development pipeline, the most notable of which is Bwengu, the 50 MWac ground-mounted solar power project in Malawi, which is being developed by Quantel Renewable Energy, a joint venture between Vidullanka PLC and Frontier Energy, Denmark. The construction of this project is expected to start in the 4th quarter of 2022.

Locally, the group is also pursuing construction activities for the Horana Solar (2MW) and Vavunathivu Solar (10MW) ground power plants. With escalating costs having a significant impact on the development of these projects, the company is considering several feasible options, including increasing its capital contributions to meet its obligations. The commissioning of these two plants should take place at the end of 2022.

Average product life falls to record low


The latest research from Moneyfacts has revealed that the average length of time mortgage products stay on the market has dropped to a record low.

This research revealed that, on average, products remain available to borrowers for 17 days at present. This is the shortest period on record, with the previous low having been reached in June 2022. This means in practice that mortgage advisers are under more pressure than ever at the moment to identify suitable products and fulfill the requests while they remain available. .

Additionally, Moneyfacts also points out that the short lifespan of the products coincides with frequent rate hikes. His research shows that average five-year fixed mortgage rates have risen for 10 consecutive months and currently stand at 4.08%. This is the first time that they have exceeded 4% in eight years.

Two-year fixed mortgage rates have also risen for the past 10 consecutive months, leaving them at 3.95% at this time. This is the highest rate recorded by Moneyfacts since the beginning of 2013.

Speaking to Mortgage Strategy, Eleanor Williams of Moneyfacts said shopping around was the best bet for borrowers, but added:

“Not only do borrowers now have fewer choices to choose from, but the average mortgage shelf life has dropped to a new low of just 17 days this month.”

CeMAP-trained advisors are more essential than ever in this landscape of rising prices and shrinking product options.

Nirmala Sitharaman in States Handing Out Gifts – The New Indian Express


BENGALURU: Union Finance Minister Nirmala Sitharaman on Saturday urged gift giving states to check the fiscal strength of the state government and make budgetary provisions accordingly.

Days after Prime Minister Narendra Modi’s ‘rewaris’ jibe, apparently referring to freebies given by some state governments, particularly the Aam Aadmi Party waiver in Delhi and Punjab, Sitharaman said it was good that the debate has started.

“You can promise something. Let’s say when I say you — the state government or a government — you promise something, say I’m going to give you something for free. It could be electricity, it could be anything else. And I’m not saying you shouldn’t.”

“Do it but make sure you understand your state’s financial level, your state’s fiscal strength and having promised it in the election, you won, you come back, make sure you fill it out because you gave a word and how, making sure your budget will have a provision for it,” Sitharaman said during an interactive program organized by the BJP Economic Cell here.

“I think it bodes well that the Prime Minister has mentioned freebies and their impact on the economy. And now there’s a lot of interest in the subject and discussions are starting but real good debate and building arguments are so necessary because any diversion from the fundamental principle that we need to understand, or any attempt to undermine or dilute this debate would be doing this country a disservice because we all know that governments have responsibilities,” said she said when answering a question about the financial burden of gifts on the state.

The FM said governments indeed have a responsibility to ensure that a good education reaches all of its citizens, especially the poorest sections of society.

Also, basic health care is taken care of, Sitharaman said, adding that when the poor are involved, “high-end medical assistance involving experts is needed, the poor should be able to access it.”

READ ALSO | Spending on health, education and social protection, no freebies: TN CM Staline

In this regard, she said, various committees appointed since independence have always insisted that at least six percent of the gross domestic product should be spent on health, education and other basic needs. .

Sitharaman said that no government till today has denied its responsibility for education or allowed only private education to take on this task.

She added that the private sector was allowed to participate in taking over education responsibilities, but no government from independence to date has ever said that it was not necessary to spend on education.

On the contrary, the Center and the States have participated in the process through Jawahar Navodaya Vidyalaya, Sarva Shiksha Abhiyan, Tribal Welfare Schools, Boarding Schools to provide good quality education to all, Sitharaman pointed out.

“So if any attempt is made to say that education is now treated as a gift, sorry. This is an irresponsible and misguided statement. So is health. partially successful, others more successful reaching out, n never shied away from taking responsibility for education or health,” Sitharaman said.

Sitharaman said she wouldn’t give a list of what’s free and what isn’t, and preferred to leave it up to people to decide.

She, however, cited how free electricity could weigh on power generation companies and distribution companies if the financial health of the state is not taken into account.

“You promised them up to 300 units or whatever 300 units of free electricity. So that you know how many people should get it, you make provision for that in your budget,” he said. she declared.

READ ALSO | Congress joins Gujarat ‘freebie club’, promises farm loan waiver and free electricity

“Do you have enough fiscal strength. Do you generate enough income to be able to do all of this and take care of your committed obligations like salary, pension and do your usual work – get water, give roads, you ensure that your state has schools, colleges, education, hospitals,” she added.

Regarding cryptocurrency, she said the government had already warned earlier saying, “Please caution is the word.

So I think we’ll all have to share our thoughts and proceed with a bit of caution on this.

There is a huge possibility when we talk about technology, but how, where and what trajectory it takes is something that we will all have to worry about and monitor, ”she said.

To a question about inflation, Sitharaman replied, “I have to manage inflation, but I have to encourage growth. There is no way for me to continue to reconcile. That word reconcile. Yes, it is reconciliation, but the approach we take is growth,” she said.

BENGALURU: Union Finance Minister Nirmala Sitharaman on Saturday urged gift giving states to check the fiscal strength of the state government and make budgetary provisions accordingly. Days after Prime Minister Narendra Modi’s ‘rewaris’ jibe, apparently referring to freebies given by some state governments, particularly the Aam Aadmi Party waiver in Delhi and Punjab, Sitharaman said it was good that the debate has started. “You can promise something. Let’s say when I say you — the state government or a government — you promise something, say I’m going to give you something for free. It could be electricity, it could be anything else. And I’m not saying you shouldn’t.” “Do it but make sure you understand your state’s financial level, your state’s fiscal strength and having promised it in the election, you won, you come back, make sure you fill it out because you gave a word and how, making sure your budget will have a provision for it,” Sitharaman said during an interactive program hosted by the BJP Economic Cell here. “I think it bodes well that the Prime Minister mentioned gifts and their impact on the economy. And there is now a lot of interest in the subject and discussions are beginning but real good debate and building up arguments is so necessary because any diversion from the fundamental principle that we need to understand, or any attempt to undermine or dilute this debate would be doing this country a disservice because we all know that governments have responsibilities,” she said when responding to a question about the financial burden of gifts on the state. The FM said governments indeed have a responsibility to ensure that a good education reaches all of its citizens, especially the poorest sections of society. Also, basic health care is taken care of, Sitharaman said, adding that when the poor are involved, “high-end medical assistance involving experts is needed, the poor should be able to access it.” READ ALSO | Spending on health, education, welfare programs, not gifts: TN CM Stalin In this regard, she said, various appointed committees since independence have always insisted on spending at least 6% of the gross domestic product on health, education and other basic needs. Sitharaman said that no government till today has denied its responsibility for education or allowed only private education to take on this task. She added that the private sector was allowed to participate in taking over education responsibilities, but no government from independence to date has ever said that it was not necessary to spend on education. On the contrary, the Center and the States have participated in the process through Jawahar Navodaya Vidyalaya, Sarva Shiksha Abhiyan, Tribal Welfare Schools, Boarding Schools to provide good quality education to all, Sitharaman pointed out. “So if any attempt is made to say that education is now treated as a gift, sorry. This is an irresponsible and misguided statement. So is health. partially successful, others more successful reaching out, n ‘has never shied away from taking responsibility for education or health,’ Sitharaman said. Sitharaman said she would not list what is free and what is not, and preferred to leave the subject to the people to decide. She, however, cited how free electricity could weigh on power generation companies and distribution companies if the financial health of the state is not taken into account. ” You promised them up to 300 units or whatever 300 units of free electricity. So that you know the number of people who should get it, you make provision for that in your budget,” she said. ALSO READ | Congress joins ‘freebie club’ in Gujarat, promises a exemption from agricultural loan, free electricity “Do you have sufficient budgetary solidity. Are you generating enough income to be able to do all of this and take care of your committed obligations like salary, retirement and do your usual work – get water, give roads, make sure your state has schools, colleges, an education, hospitals,” she said. Regarding cryptocurrency, she said the government had already warned earlier saying, “Please caution is the word. So I think we’ll all have to share our thoughts and proceed with a bit of caution on this. There is a huge possibility when you talk about technology, but how and where and what trajectory it takes is something that we will all have to worry about and watch for, ”she said. To a question about inflation, Sitharaman said, “I have to manage inflation but I have to encourage growth. There’s no way for me to keep reconciling. It’s not reconciling. Well , okay, if you’re really into that word, reconcile. Yes, it’s reconciliation, but the approach we’re taking is growth,” she said.

National Bank of Canada FI sells 400 shares of iShares MSCI USA Value Factor ETF (BATS:VLUE)


National Bank of Canada FI reduced its stake in the shares of iShares MSCI USA Value Factor ETF (BATS:VLUE – Get Rating) by 27.7% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 1,043 shares of the company after selling 400 shares during the quarter. National Bank of Canada FI’s holdings in the iShares MSCI USA Value Factor ETF were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also bought and sold stocks. Oppenheimer & Co. Inc. acquired a new equity stake in iShares MSCI USA Value Factor ETF in Q4 worth $226,000. The Toronto Dominion Bank acquired a new stake in shares of iShares MSCI USA Value Factor ETF in Q4 worth $40,000. Cowa LLC increased its stake in iShares MSCI USA Value Factor ETF by 360.2% in Q4. Cowa LLC now owns 25,705 shares of the company worth $2,814,000 after acquiring an additional 20,119 shares in the last quarter. Alphastar Capital Management LLC bought a new position in iShares MSCI USA Value Factor ETF in Q4 for a value of $232,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in iShares MSCI USA Value Factor ETF by 13.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,232,919 shares of the company worth $463,378,000 after acquiring an additional 495,721 shares in the last quarter.

iShares MSCI USA Value Factor ETF Stock Performance

Shares of VLUE opened at $99.11 on Friday. The company has a fifty-day moving average of $93.38 and a 200-day moving average of $99.87. iShares MSCI USA Value Factor ETF has a 1-year low of $71.21 and a 1-year high of $89.40.

Further reading

Want to see which other hedge funds hold VLUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iShares MSCI USA Value Factor ETF (BATS:VLUE – Get Rating).

Institutional ownership by quarter for iShares MSCI USA Value Factor ETF (BATS:VLUE)

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Kerry expects 35.7% volume growth in the first half


A line of Kerry Express delivery vehicles outside one of the company’s logistics centres.

Thailand’s leading express delivery service, Kerry Express, reported volume growth of 35.7% in the first half of 2022 year-on-year.

Revenue for the second quarter of this year was reported at 4.2 billion baht, similar to the previous quarter.

Kerry also announced that in response to rising fuel prices, the company is adopting a smart pricing strategy to achieve sustainable performance as well as greater volume growth.

This means that a fuel surcharge has been introduced to neutralize this impact, although it is subject to adjustment depending on the evolution of diesel prices and will eventually be lifted when fuel prices return to normal.

Meanwhile, Kerry said he was strictly executing cost-cutting programs, including redesigning operations to standardize the last-mile process with centralized control for long-term profitability and productivity optimization.

Kerry expects the impact of cost reduction to accelerate throughout 2022.

Alex Ng, Managing Director of Kerry Express, explained that although the second quarter was held back by multiple challenges, he is confident that the company will soon see a significant improvement in revenue and profit margin thanks to control initiatives. costs.

“Kerry will continue to diversify its revenues in addition to its core business to drive further growth over the coming quarters and expand our market leadership,” Mr. Ng said.

In line with Kerry’s business diversification strategy, the company announced that it has entered into a joint venture with Hive Box, China’s leading smart locker company, to establish Thailand’s first smart locker system.

The newly formed entity will offer end-to-end drop-off and pick-up solutions with the integration of advanced scanning and automation powered by Hive Box.

“Hive Box is almost the only proven locker solution in China,” Ng added.

“Kerry, joining forces with our strategic partners, will bring such unique success to Thailand with the right technology, adequate investments as well as exclusive geographic coverage,” he said.

Canoo’s casualties mount; EV startup touts sales pipeline


Canoo, which has announced plans to build electric vehicles like this at a plant in Pryor from next year, acknowledged that its future hinges at this stage on sales to just one customer, Walmart. (File photo)

Electric vehicle startup Canoo, which announced plans to produce electric vehicles at a Pryor plant from 2023, reported net losses of $164.4 million in the second quarter and $289.8 million in the first half of 2022.

Although the company, in its recently released 2Q financial statements, said it had amassed more than $1 billion in its sales “pipeline”, it acknowledged that its future prospects hinge on its still-nascent relationship with a single customer, Walmart.

“We expect a substantial portion of our initial revenue to come from a single customer,” he said. “If we are unable to maintain this relationship, or if Walmart purchases significantly fewer vehicles than we currently expect or at all, our business, outlook, financial condition, results of operations and cash flows cash flow could be materially and negatively affected.”

Shares of Canoo, which jumped in value in July after Walmart ordered 4,500 lifestyle electric vehicles from Canoo and opted to buy 10,000 for use as delivery vehicles, have since declined by about 25%. It took another hit when Canoo said in its second-quarter filing that, at least initially, it wouldn’t be building electric vehicles for Walmart itself. Instead, he planned to use an unspecified contractor.

Canoo previously said it would begin vehicle assembly at a small plant in Bentonville, Arkansas, while it works to build its “mega-micro plant” at the Mid-America Industrial Park in Pryor. He said he plans to eventually employ 1,500 to 2,000 people at the Oklahoma plant.

The company benefited from financial incentives provided by Oklahoma. According to statements by Canoo Chairman Tony Aquila, Oklahoma has awarded $15 million from the governor’s “Quick Action Closing Fund” to support Canoo’s job creation and other development efforts in the state. The funding was included in an overall incentive package valued at approximately $300 million.

Arkansas has also provided incentives for the company, as Canoo has stated its goal of creating a “corridor” of electric vehicle development and production stretching from northeast Oklahoma to northwest New York. ‘Arkansas.

In comments posted with Canoo’s filings in the second quarter, Aquila said the company had completed 90% of crash tests and moved through a final phase required to achieve Federal Motor Vehicle Safety Standard certification.

“We are moving towards the start of production in the fourth quarter,” he said. “We have over $1 billion in our sales pipeline, which includes our recently announced commercial order.”

He noted that the US military has asked Canoo to provide electric vehicles for analysis and demonstration purposes. Canoo also plans to deliver several custom electric vehicles to NASA by June 2023.

In other Q2 highlights, Canoo said it launched an “advanced delivery setting” of electric vehicles to be used by Walmart for deliveries in the Dallas-Fort Worth metroplex.

Progress has a cost. Canoo reported net losses of $164.4 million and $289.8 million for the three and six months ended June 30, 2022, compared to net loss and comprehensive loss of $112.6 million and 127 $.8 million recorded for the three and six months ended June 30, 2021 .

Net cash used in operating activities totaled $237.6 million in the first half of 2022, compared to $108.8 million for the six months ended June 30, 2021. Net cash used in investing activities was of $35 million, compared to net cash used in investing activities of $28.7 million in the first two quarters of 2021.

As of June 30, the company said it has access to up to $250 million, including cash and cash equivalents of $33.8 million and approximately $220 million of spare capacity on its power purchase facility. pending shares filed with the Securities and Exchange Commission in May.

Second half 2022 business outlook

Based on current projections, Canoo said it expects second-half operating expenses, excluding stock-based compensation and amortization, of $200 million to $245 million, and capital expenditures. from 100 to 125 million dollars.

Despite the change in plans regarding production, Aquila said deliveries to Walmart are expected to begin in the first quarter of 2023.

The publication Inside electric vehicles noted, however, in a post following the 2Q report that Canoo’s plans to use an outside contractor for initial EV production for Walmart could signal production issues for the startup. He also pointed out that the company’s road to future profitability remains uncertain.

“Canoo says it ended the quarter with more than $1 billion in its sales pipeline, largely attributable to the deal with Walmart. Beware, only 17% of (its) 32,500 reservations are committed sales under contract , with the remainder being non-binding and refundable,” the post read.

Creatd announces the successful public release of its Vocal iOS app ahead of schedule


NEW YORK, August 11, 2022 /PRNewswire/ — Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), today announced the groundbreaking release of the Vocal mobile app for iOS for consumers. The long-awaited first release of the Vocal app was designed to exponentially improve the reach of Vocal creators. New app-exclusive features will dramatically enhance the reader experience, allowing users to easily discover curated stories, expand content distribution, and unlock new monetization opportunities for creators. The introduction of the app provides partner brands with another outlet for Vocal’s rapidly growing audience by providing them with a scalable, one-stop platform to showcase products and services aligned with Creatd’s vision.

Users can now download voice app from the Apple App Store to interact with content and creators they know and love, and discover new favorites. The app leverages Vocal’s existing “Subscribe” feature to enable enhanced content discovery with a focus on reader preferences; App users will enjoy quick and easy access to a personalized in-app “library” highlighting stories and creators they have already subscribed to, fostering a more personalized and highly curated reading experience. As part of the app’s product roadmap, users will be able to access future premium resources and features, such as Vocal Coins – a new payment system within Vocal, which is part of the more wide of the company’s token economy.

Comments the founder and COO of Creatd Justin Maury“With the release of the Vocal app to consumers, we’re excited to reach a whole new level of community engagement, while unlocking new revenue streams for creators, brands, and our business.”

Download the Vocal app for iOS from the Apple App Store, here.

About creation

Creatd, Inc. (Nasdaq CM: CRTD) is a company whose mission is to provide economic opportunity for creators and brands by multiplying the impact of platforms, people and technology. The Company has four main business segments, or “pillars”: Creatd Labs, Creatd Partners, Creatd Ventures and Creatd Studios. Each pillar is characterized by a distinct revenue model, while operating on a shared services structure and proprietary data collected from our multiple technology platforms. The pillars of Creatd work together to create a flying effect, supporting our core vision of creating a viable and secure ecosystem for all stakeholders in the creator economy.

Created: https://creatd.com;

IR created: https://investors.creatd.com;

Voice platform: https://vocal.media;

Contact with Investor Relations: [email protected]

Forward-looking statements

All statements that are not historical facts and that express or imply discussions of expectations, beliefs, plans, goals, assumptions, or future events or performance (often, but not always, indicated by use words or phrases such as “probable outcome”, “should”, “will continue”, “is expected”, “estimates”, “intends”, “plans”, “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and investors should not place undue reliance on such forward-looking statements. as of the date such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date such statement is made or to reflect the occurrence of events or foreseen or unforeseen circumstances. New factors emerge from time to time and it is impossible for us to predict all of these factors. Further, we cannot assess the impact of each of these factors on our results of operations or the extent to which any one factor, or combination of factors, could cause actual results to differ materially from those contained in forward-looking statements. This press release is qualified in its entirety by the warnings and disclosure of risk factors contained in our filings with the Securities and Exchange Commission.

SOURCE Created, Inc.

Siemens sees strong demand persisting thanks to cost and supply pressure


Siemens AG said strong orders from all markets are expected to continue in the coming months, helping the company battle rising inflation and supply chain issues that are weighing on returns.

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(Bloomberg) – Siemens AG said strong orders from all markets are expected to continue in the coming months, helping the company battle rising inflation and supply chain issues that are weighing on returns.

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The German industrial giant, reporting a quarterly net loss that beat expectations on Thursday, said it would double its efficiency gains to offset drag and pass on higher costs to customers.

“We are seeing strong demand from our markets, even over three to four quarters,” chief executive Roland Busch said in an interview with Bloomberg Television. “With our price increases to customers, which we are adjusting moderately, we can overcompensate for cost increases from our suppliers.”

Shares fell 1.7% at 9:30 a.m. in Frankfurt, taking losses this year to nearly 30%.

So far, manufacturers like Siemens have been fairly immune to an increasingly bleak outlook marked by record inflation and slowing growth as well as war in Ukraine. Supply chain shortages, driven by the chip crisis now in its third year, have pushed order books to record highs and companies expect to take months to reduce pent-up demand. Also on Thursday, Daimler Truck Holding AG said it would struggle to fill truck orders for the rest of the year.

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At Siemens, orders hit a record high of 99 billion euros ($102 billion) after strong growth in the quarter through June. Even so, there are signs of normalization, the company said.


In the key digital industries division, which makes factory automation software and other labor-saving services, third-quarter profitability was held back by semiconductor shortages and higher spending for cloud-based businesses, Siemens said. Future business will be “clearly influenced by price inflation,” Busch said in speaking notes. The company expects to start reducing its backlog from fiscal 2023.

The prediction echoes BMW AG’s view that improved semiconductor availability will help ease supply chain pressure, allowing production to ramp up.

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Quarterly orders for the smart infrastructure unit rose 26%, although revenue in China fell due to coronavirus lockdowns. The Digital Industries and Smart Infrastructure units are at the heart of Siemens’ push towards higher-margin software offerings.


On Thursday, Siemens cut its expected increase in earnings per share to 5.73 euros from 9.10 euros due to impairment charges. Siemens wrote down the value of its stake in Siemens Energy AG by 2.7 billion euros in June following the turbine maker’s repeated profit warnings. Thursday, he doubled the depreciation linked to his exit from Russia to 1.2 billion euros.

Further write-downs on Siemens’ operations in Russia are possible with regard to its leasing activities in the country, in the region of a three-digit amount of one million euros.

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Although facing a complex economic environment marked by sanctions against Russia, high inflation and the effects of the pandemic, the company said it avoided “more significant disruptions” in the quarter.

Software Player

Siemens is still reorganizing its business toward higher-margin software product lines. The company has sold most of the smaller divested divisions and is focusing on areas with the highest growth potential. In recent weeks, it has bought US software company Brightly for $1.6 billion, launched a new digital business platform and bought a minority stake in Volkswagen AG’s electric car charging subsidiary, Electrify America.

The Mobility division of Siemens, which manufactures trains, won orders worth 2.8 billion euros. Yields fell due to the exit from Russia and the company cut its profit margin forecast to 8.5% from 10.5% previously.

Profit from the industrial business was 2.9 billion euros with returns of 17% slightly below analysts’ expectations.



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The indicator increased by 43% year-on-year

SAO PAULO, August 10, 2022 /PRNewswire/ — Minerva Foods (Minerva SA – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a leader in the export of fresh beef and derivatives in South Americawhich also operates in the processed segment, presents its financial results for the second quarter of 2022 (2Q22).

In 2Q22, EBITDA totaled 778 million reaisup 43% year-on-year, setting a company record. For LTM2Q22, EBITDA was 2.8 billion reaisgrowth of 28% over one year, with an EBITDA margin of 9.2%.

The consolidated gross turnover of the company amounts to 9 billion reais in 2Q22, up 34% compared to 2Q21. In the last 12 month, closed in June 2022 (LTM2T22)the indicator was 32.4 billion reais.

In 2Q22, exports accounted for 71% of Minerva Foods gross sales, once new positioning the leading company in beef exports in South Americawith a market share of around 20%.

The company posted 2Q22 net profit of 424.7 million reais and 761.9 million reais for the last twelve months ended in June. Free cash generation over the period was 415.7 million reaisand in LTM2Q22 the indicator was 523.2 million reais.

Report leverage in 2Q22, measured by the Net Debt/EBITDA multiple for the last 12 months, was reduced to 2.3x. The indicator reinforces the financial discipline and sound capital structure of the company.

Minerva Foods continues to drive shareholder value and announces approved dividend payment today (August 10) of 128 million reaisor R$ 0.22 per share.

About Minerva Foods

Minerva Foods is a leading beef exporter in South America and also operates in the processed segment, selling its products in over 100 countries. In addition to BrazilMinerva Foods is present in Paraguay, Argentina, Uruguay, Colombiaand Australia. The company serves five continents in beef, lamb and their derivatives, and currently operates 27 industrial units, 11 international offices, 14 distribution centers and three processing units.

SOURCE Minerva Foods

Cryptocurrencies and Financial Regulation – AAF

Thomas Wade has a new article that summarizes the state of financial regulation of cryptocurrencies (“crypto”). Eakinomics’ view of the universe is that cryptography is misunderstood but nevertheless remains a staple of cocktail discussions. For this crowd, the fun fact in Wade’s journal is that Bitcoin futures contracts are regulated by the Commodity Futures Trading Commission (CFTC), but Bitcoin itself is unregulated (by any of the financial regulators other than those with the unenviable responsibility of preventing financial cyber crimes). The coexistence of a regulated futures market with an unregulated spot market is strange (economic term) and probably very inefficient.

A second important point to remember is that cryptography is largely unregulated and patchy. As Wade puts it, “Except in limited circumstances, the taxation or activity of most cryptocurrencies and the treatment of digital assets is currently largely unregulated in the United States…. The lack of a primary regulator is only part (and perhaps a cause) of the regulatory patchwork of inconsistent agency regulations and guidance on various isolated aspects of crypto.

One of the reasons for the current state of regulation is that cryptography is misunderstood. In other words, what is crypto? If cryptography is a commodity, it is straightforward to attribute jurisdiction to the CFTC: “The CFTC defines a commodity as including all “goods and articles,…and all services, rights and interests…in which contracts for delivery future are currently or in progress”. the future treated and is not limited to tangible assets only. Or, is crypto a security, in which case the Securities and Exchange Commission has the turf? Per Wade: “The SEC defines a security as an ‘investment contract’ and relies on the Howey test, established by a nearly 100-year-old Supreme Court decision. Any financial instrument (potentially including cryptocurrency) is considered a security if it is: an investment of money; in a joint venture; with a reasonable expectation of profits; and arising from the entrepreneurial or management efforts of others. »

Rooftop Solar System Market 2022 Growth Factor – Canadian Solar, Hanwha Group, JA SOLAR, JinkoSolar – Shanghaiist


A current research report on the Global Global Rooftop Solar Systems Market from 2022 to 2028 by MarketsandResearch.biz includes all the latest information, including market size, share, sales, growth, and revenue, along with a competitive analysis of the market. It is a historical review of the demand and supply chain, as well as an analytical assessment of current and future growth. The research study also assesses the competitive landscape of the market including new business strategies as well as the current and future effect of covid-19 predicted to 2028.

This market report examines the global and regional markets, as well as the overall market development prospects. It also provides an overview of the overall competitive landscape of the global market. The study also includes a dashboard overview of the leading companies’ effective marketing tactics, their contribution to the market, and recent changes in historical and current metrics. The research offers a comprehensive analysis of the market, focusing data on several areas such as drivers, restraints, opportunities, and threats. This data can help stakeholders make informed decisions before investing.

DOWNLOAD FREE SAMPLE REPORT: https://www.marketsandresearch.biz/sample-request/291322

It also includes a detailed geographical review of major regions and nations such as:

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
  • South America (Brazil, Argentina, Colombia and rest of South America)
  • Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa and Rest of Middle East and Africa)

The typical segment includes:

  • Fixed Solar System
  • Adjustable solar system

The application segment includes:

Key and emerging players in the global market include:

  • Canadian Solar
  • Hanwha Group
  • JinkoSolar
  • Trina Solar

ACCESS FULL REPORT: https://www.marketsandresearch.biz/report/291322/global-roof-solar-system-market-2022-by-manufacturers-regions-type-and-application-forecast-to-2028

The research offers a comprehensive analysis of the market, focusing data on several areas such as drivers, restraints, opportunities, and threats. This data can help stakeholders make informed decisions before investing.

Report customization:

This report can be customized to meet customer requirements. Please contact our sales team ([email protected]), who will ensure that you get a report tailored to your needs. You can also get in touch with our executives at 1-201-465-4211 to share your research needs.

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‘Government needs to pay its way’: Darlington speaks out on cost of living crisis | UK cost of living crisis


RObin Blair has been behind his fruit and vegetable stand since the age of three months, in a basket under the box where his mother worked. Now 77, his is one of the last remaining businesses in historic Darlington Market, the ‘Red Wall’ town won by the Tories in 2019, where Liz Truss and Rishi Sunak will hold their North East roundups Tuesday evening.

Questions about the cost of living are expected to dominate the rest of the campaign. In Darlington, energy bills are expected to be nearly 15% of average after-tax household income.

Blair says he has been through tough times in the past, but admitted he fears the catastrophic rise in prices this winter. “I think the government has to put its hands in its pocket – when things are going well, they don’t hesitate to raise taxes,” he says. “Our biggest concern is fuel; we are also planters, old-fashioned market gardeners.

He also fears for the future of the city and the empty shops on the main street. Hip bars and cafes have opened in the old townhouses of Darlington’s attractive streets, but there are gaping holes in the large retail spaces that only the big brands can afford.

For business owners and high street shoppers, there’s a nod that the government can’t give more help with the bills and a sense of inevitability that it will have to come from anyway. Earlier today, Truss doubled down on its refusal to offer meaningful help to people with rising energy bills this winter.

“People will not be able to pay their bills. It’s simple’: David Jackson at his stand in the market. Photograph: Gary Calton/The Observer

David Jackson, the market’s newest butcher, cautiously praises the town’s new Conservative MP, Peter Gibson. But he says his business faces “astronomical” costs. “People will not be able to pay their bills. It’s simple,” he says. He largely hopes Sunak will win: “He was chancellor, he should know something.”

Outside on the main shopping thoroughfare, David Eeles says his health depends on machines needing power, having already seen his bills soar up to £200 a month.

His daughter Sue McQuillen, who recently returned from a trip to Turkey, is scathing about the help offered by the government. “We have kept none of our national assets, neither the energy companies, nor the water, nor the automobile industry. All the billions in profits these companies make don’t even stay here.

Darlington has totemic status for conservatives. In 2017, pollster John Curtice named it the seat that would land Theresa May’s new and bigger majority.

Instead, Labor took the seat and May lost her majority. A member of the shadow cabinet remarked at the time that the greatest achievement of the 2017 campaign was not winning Canterbury but holding Darlington, especially after the Conservatives’ victory as mayor of Tees Valley.

Elizabeth Hackwell.
Sunak is a “chancellor who wouldn’t pay taxes and wouldn’t pay ours”, says Elizabeth Hackwell. Photograph: Gary Calton/The Observer

In 2019, the constituency instead announced the end of the job, eliminating shadow minister Jenny Chapman. But a number of people in the city say they believe the city will turn red again – without explicitly saying they will change their vote.

Emma Kane, a beautician, and her husband, Adam, who works in manufacturing, say they consider their household incomes comfortable and are even worried about future price hikes.

Both say they are not sure voting for Labor would make a huge difference. “Unions spend a lot of time saying what’s wrong, rather than finding solutions,” she says.

The Tories are determined to fill the seat – and the seat has received particular attention from Sunak as Chancellor, whose Richmond constituency makes him a close neighbour. Last year, Darlington was the location chosen for “Treasury North” – a new business campus for the department.

Chris McEwan, union representative.
Labor was undone by “Brexit, Corbyn and appeasement”, says Chris McEwan, a local labor councillor. Photograph: Gary Calton/The Observer

The move is a source of civic pride in the city, but some doubt locals will benefit from the new jobs – and the announcement has already had an effect on property prices.

Elizabeth Hackwell says she is deeply skeptical of ‘local boy’ Sunak, calling him ‘a chancellor who wouldn’t pay taxes and pay ours’. She says Darlington will “go back to work”, but says people were angry the Brexit vote was ignored. “Boris did it and we can move on now.”

For Labor it is a tough fight back, having also lost the council in 2019, and there is internal gloom over the prospect of regaining control next year. Chris McEwan, a longtime adviser, says the party was undone by “Brexit, Corbyn and appeasement” and that the third of them is still the hardest to tackle.

He says Labor has “a way to go” in communicating its offer to people. “We need to focus more on energy companies – these are abnormal profits. The government should intervene and I do not believe that it is prepared to do so. It’s for the good of the economy. »

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McEwan says the impact of the cost of living crisis is now so severe in parts of the city that Covid-era self-help groups involving churches and local charities have been repurposed as aid emergency for those who are plunged into poverty by increasing the costs.

He says the city still has a strong sense of community and Labor can show it is on its side. “There is a major crisis ahead, but we still have skin in the game here. You can still move forward. We have a big population – and a big history.

What is the difference? – Forbes Advisor

Whether you hire contractors or employees or a combination of both depends on your business needs and resources.

Many small businesses start out by hiring contractors to help with support tasks and projects as the business grows beyond what a single owner can do, but not yet earning income. to support full-time employment. It can be a smart, lean way to grow, but you lose the behavioral, financial, and relationship control you would have with employees.

You may want to hire a contractor when:

  • You have a defined project or a mission in mind
  • You have no guaranteed continuous work
  • You want to benefit from the expertise of a service provider rather than providing the training, strategy and protocols yourself
  • The job does not require scheduled times or a set location
  • Work can be done independently without supervision

You may want to hire an employee when:

  • You have work in progress for the role
  • The worker must follow your company protocols or use your equipment
  • Work requires scheduled hours and/or a defined location
  • The job requires supervision and management

Find your next great recruit with ZipRecruiter’s online job market

Try ZipRecruiter today by creating a free account!

Publish an offer


The difference between 1099 and W-2 workers can be difficult to parse, but the spirit of the classifications is clear: contractors are self-employed workers who sell you a service while employees work for the benefit and under the direction of your company.

Once you know what kind of worker you’re hiring, choosing the right tax forms and meeting tax requirements is simple. Contractors fill out a W-9 when hiring, while employees fill out a W-4. At tax time, you file a 1099 for each contractor and a W-2 for each employee.

If the IRS determines that a worker was misclassified, you could be liable for additional taxes on their wages, as well as unemployment insurance and benefits extended to other employees, such as health insurance and pension plans. Clarity before hiring is also important in finding the right type of worker for the job.

Aeromexico releases July 2022 traffic results


MEXICO CITY, August 8, 2022 /PRNewswire/ — Grupo Aeromexico SAB de CV (“Aeromexico”) (BMV: AEROMEX) today announced July 2022 operational results.

  • Grupo Aeromexico carried 2 million 057 thousand passengers in July, a year-on-year increase of 23.3%. International passengers carried increased by 42.2%, while domestic passengers increased by 16.1%.
  • Aeromexico’s total capacity, measured in available seat kilometers (ASK), increased 32.5% year-on-year. International ASKs increased by 43.0% compared to July 2021. Domestic capacity increased 17.3% year over year.
  • Demand, measured in passenger-kilometres (RPK), increased 44.4% year-on-year. International demand increased by 65.7% compared to July 2021. Domestic demand increased by 16.0% compared to July 2021.
  • Aeromexico’s load factor in July was 87.5%, a 6.8 pp increase from July 2021. International load factor increased by 11.7pp and domestic load factor decreased by 1.0pp
  • In July 2022 Aeromexico announced that from August 2022it will increase its operations to Felipe Angeles International Airport (NLU) up to 6 destinations with 56 weekly departures.


Since the beginning of the year in July



Var vs. 2021



Var vs. 2021

RPK (route + charter, millions)






















ASK (route + charter, millions)






















Load factor (route, %)
























Passengers (route + charter, thousands)






















The information contained in this report has not been audited and does not provide information on the future performance of the Company. Aeromexico’s future performance depends on many factors and it cannot be inferred that performance in any period or its year-to-year comparison will be indicative of similar future performance.


  • “RPK” Revenue passenger-kilometres represent one revenue passenger carried over one kilometre. This includes itinerary flights and charter flights. The total RPK is equal to the number of paying passengers carried multiplied by the total distance flown.
  • “Request” Available seat-kilometres are the number of available seats multiplied by the distance travelled. This metric is an indicator of airline capacity. This is equivalent to a place offered for one kilometer, whether the place is used.
  • “Load Factor” is the number of passengers carried as a percentage of the number of seats offered. It is a measure of the airline’s capacity utilization. This metric takes into account the total number of passengers carried and the total number of seats available on the route’s flights only.
  • “Passengers” refers to the total number of passengers carried by the airline.
  • Grupo Aeromexico’s investor presentation is available at the following link: https://www.aeromexico.com/en-us/investors

This press release contains certain forward-looking statements that reflect the current beliefs and/or expectations of the Company and its management regarding its performance, business and future events. We use words such as “believe”, “anticipate”, “plan”, “expect”, “intend”, “target”, “estimate”, “project”, “predict”, ” anticipate,” “guideline,” “should,” and similar expressions to identify forward-looking statements, but these are not the only means by which we identify such statements. These statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. The Company is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About Grupo Aeromexico

Grupo Aeromexico, SAB de CV is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and promoting passenger loyalty programs. Aeromexico, from Mexico global airline, has its main center of operations in Terminal 2 of the Mexico City International airport. Its destination network extends over Mexico, United States, Canada, central America, South America, Asia and Europe. The Group’s current operational fleet includes Boeing 787s and 737s, as well as the latest generation Embraer 190s. Aeroméxico is a founding partner of SkyTeam, an alliance which celebrates its 20th anniversary and offers connectivity in more than 170 countries, through the 19 partner airlines. Aeroméxico has created and implemented a Health and Hygiene Management System (HSMS) to protect its customers and employees at all stages of its operation.

SOURCE Grupo Aeromexico SAB de CV

Rural recovery and robust volume growth help Dabur India post further gains


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Reliance Industries sets record dividend date for fiscal year 2021-22


With a market valuation of 17,14,256.39 Crore, Reliance Industries Ltd. is a large-cap company that produces petroleum products. The largest private sector company in India and a Fortune 500 company is Reliance Industries Limited. The Company’s business activities include the exploration and production of oil and gas as well as the production of synthetic textiles and fabrics, plastics, chemicals, petroleum products, polyester products and polyester intermediates. The company’s board of directors has recommended a dividend of Rs. 8.00 per share of Rs. 10 for the financial year ending 31 March 2022. This equates to a dividend yield of 0.31% at the current trading price of the action of 2,532.90. In order to determine the eligibility of shareholders to receive a dividend, the company has announced a record date, of which shareholders should be aware.

On May 6, 2022, the company said in a regulatory filing that “the Board of Directors has recommended a dividend of 8/- per fully paid-up share of 10/- each for the financial year ended March 31, 2022. This dividend payment is subject to the approval of the members of the Company at the next Annual General Meeting of the Company.”

For the purposes of the same, yesterday August 6, the Board of Directors stated in stock market filings that “the Company has set Friday, August 19, 2022 as the ‘Record Date’ for the purposes of determining eligible members to receive dividends for the 2021-22 financial year. The dividend, if declared at the AGM, will be paid in the week following the close of the AGM.”

Compared to the same quarter last year, the company announced a 46.3% increase in its consolidated net profit to 17,955 crores in Q1FY23 (vs. 12,273 crore). Shares of Reliance Industries on the NSE closed Friday at 2,532.90 per share, down 39.00 or 1.52% from the previous level of 2,571.90. The stock has gained 5.37% since the start of 2022.

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Florida’s House Bill 5, an absurd/stupid replacement bill Roe v. wade

This bill is a slap in the face to girls and young women. What they decide is between them and their consulting physician or provider. Not you Governor DeSantis, not the people in the House, not the people in the Senate, not the people in Congress. Not your choice.

I oppose House Bill 5. Will your next bill take away women’s suffrage?

This bill is just another example of politicians interfering with the private choices that should only be made between a patient and her health care provider. Abortion should always be safe, legal and accessible to any woman who needs or wants it. The decision to end a pregnancy is very personal.

Certainly NOT a decision of a governor, government, court, judge or members of Congress. Earth’s population is exploding. 70% of Americans support a woman’s right to choose her own path.

DeSantis: Your House Bill 5 would impose 16 years or more of a court conviction of a woman on work hardship and scheduling choices. To force her to care for a child at extreme personal cost and financial responsibility, an indefinable burden on a woman’s years to come. You are challenging the 14th Amendment to the United States Constitution to a woman’s reproductive rights.

DeSantis, you pick, you pass your bill, then you have to personally pay a woman’s pain and the costs of your forced labor on her. You impose (only) your opinion, your own point of view. The lifetime cost of raising a child born in 2022 is estimated at $272,049. Also, if the woman cannot work, pay her an additional minimum wage of $15. /Hour or more $2,628,000. Rejecting his right of constitutional choice of the United States in the United States? Maybe, maybe not. But a right protecting a pregnant woman’s freedom to choose to have an abortion without governmental restriction, without male-imposed opinion is NOT yours.

A human man has no such restrictions or similar responsibilities imposed on him. He is unique in this regard as a woman is unique in hers.

A woman has the right to have her opinion, to choose. As you have the right to have your opinion. You have NO rights beyond this. Anyone deciding for her is wrong. Neither you nor I have the right to decide his choice or his fate! This extreme legislation does not respect a woman’s decision. What can you take away from a male, his choices, for such a cruel punishment as you inflict on a girl or a young woman? What would you say if you found yourself pregnant?

Reading Considerations:

Dictionary: Life begins when breathing begins. An obvious truism of all species, hatching from an egg or during live birth: The period between birth and the present time. The period from the present until death. For humans, 24 to 27 weeks is an approximate time when a fetus, a growth in a woman’s body, becomes “viable”, i.e. able to survive outside the woman’s uterus. . Science and studies agree at 23 weeks life is likely to be defective or not likely to survive. Between 24 and 27 weeks, it is possible to sustain life outside the womb, thanks to science, humanity’s own research, human medical education, talent and self-awareness. It says “One life saved could be that of a future President. Yes, OR a future Terrorist, a future Rapist, a future Mass Killer, a future Thief, a future ‘Wordy Liar’ or whatever like a bad person. Which is more likely? What would you say if you found yourself pregnant?

DeSantis: Reject this nonsense [Inconsistent with reason, logic, or common sense] prohibition of abortion. Don’t change this existing accepted practice: Roe vs. Wade, a woman’s right to choose. Could be a mistake, mistake or just plain incorrect. Perhaps a wandering from a direct course. Successful decision making has been effective for many years, supported by 70% of Americans. A woman has the right to choose. A right to vote. Reject any effort to suppress a woman’s reproductive rights. His right to choose. OR take away your right, a man’s right, choice or other right of any person in Florida or anywhere in this country.

Rules are good when it comes to the welfare, health, safety or good of the majority of a people. The rules apply to businesses because they are a collective group of people, from managers to employees. Companies don’t do bad things. People do bad things. Businesses are made up of people. People in companies do bad things. Find the business. Sure. It becomes common knowledge. Punish the person who ordered the wrong action. Absolutely! Punish employees, help associates or those personally involved? Yes. The same goes for governors who waste their time signing bad laws that go against the grain or go against the grain. It is simply not fair that states are not united with the United States.

A different rule/law is imposed simply by crossing a border, on women. No. Does this remind you: make every state a country? Since the late 1700s, citizens have all been members of the United States.

Support and seek the legitimacy of a “whistleblower” and their charges. Respect their description. It is not a “crime” to “report”. Hiding the truth is.

DeSantis: Surely you have more pressing matters to spend your time on; Like getting along with your fellow congressmen, working together for the good of the people of your state of Florida or these United States. When Congress is in session, work together and do good things, together. You work for the American people, all the people. Don’t quibble over budgets or spending assumptions. Things passed for the good of many people are the right thing to do. Budgets are simply estimates of future expenditure. Adjustable, editable and searchable, over time or as new information becomes available. In private life, one should not live beyond one’s means. Applies to country governments or companies.

Our Earth’s greatest challenge is us humans, ourselves: Overpopulation: Eight billion people in 2022. From 11 to 16 billion in the years to come. Today, five billion 5,000,000 live on less than US$3.21 a day. No right to abortion? You’re kidding.

Climate change caused by human influence is bad. Humans are exploiting the resources of our world at an alarming rate. When our resources are exhausted, they are exhausted. When oil and gas resources are low, countries accumulate them for themselves. Will we be back to wars then?

We have problems living together. The people of Earth have this one Earth. No spare, no backup plan, no other world. We have to get along, all together. No exception. The UN has failed in its directives. Think of the Taliban in Afghanistan. Think of Putin in Russia. The United Nations must intervene, help when the natives leave their country en masse — Intervene, repair/eliminate the source at the origin of the exodus.

Putin’s invasion of Ukraine: forced a mass exodus of natives. Destruction of houses, roads and everything else too. Lost life cannot be recovered. Unfortunately. Create a UN-Ukraine bank to redirect and collect all funds entering Russia. Siphon off a percentage from the top, use it for Ukraine to rebuild, fix their country. Put a bounty on Putin’s head. Limit it to Russia. Country borders are defined. The era of “taking” land or land possessions is over.

The Florida Legislature must defeat Bill HB 5/SB 146. Treat women fairly. All women, equally with men. Respect their choices. Abortion is a choice for them alone. The woman with her doctor or health care provider.

A man, any man, all men, any woman, all women, all are equal. Don’t punish a woman because her choice is not your choice. She is your equal. You are not his superior. You have no authority to choose for her. Just as she has no authority over your choice.

As a man, you have no equal female “status” to, or by law restrict you to. Don’t limit her to her only difference from you. What do you think it will be like to find yourself pregnant?

She can (can she?) reject sex with you. But many male, gender drive, forcibly have sex with a female, however punishable by applicable laws. Oh good? Such an action often results in the pregnancy of a woman. Your action with force is a crime severely punished by law. The male knows best. Teach better. No excuses. None.


RD Freedman

Leesa Rowland, author of ‘The Charisma Factor,’ offers tips for a happy summer


Leesa Rowland ©leesarowland.net

Self-help guide author Leesa Rowland offers ideas for making the most of your summer

NEW YORK, NY, UNITED STATES OF AMERICA, Aug. 6, 2022 /EINPresswire.com/ — This summer, why not relax in the sun and soak up some much-needed vitamin D after a long winter, plus a few good advice on how to create the best of you for the summer season. Embrace your individuality, discover your authenticity, and grow stronger with advice from author of The Charisma Factor: Unlock the Secrets of Magnetic Charm and Personal Influence in Your Life, Leesa Rowland.

Actress, philanthropist and author Leesa Rowland’s book describes charisma as an invisible yet powerful force that has many different facets. Charisma is a special, compelling spark that makes you unique and sets you apart from the rest of the crowd, and it’s something everyone has, whether they realize it or not.

Spending some time connecting with our inner self, learning what makes us truly special, and incorporating that magnetic quality into our personality can have incalculable benefits on our lives. The Charisma Factor is a guide to unlocking the mysterious formula of charm and influence. Whether you’re someone who lives in the spotlight or you’re a college graduate just starting out on your career, Leesa’s insights articulated in her book will improve the way you communicate and interact with others with helpful lessons and advice. personal.

“I think that’s especially important now and as we come out of the pandemic. I want to help people become the best they can be. One of the chapters of my book that is particularly strong concerns the different charismatic personalities, the traits they have and their magnetism. It’s really like a behavioral study,” says Rowland.

About Leesa Rowland:
The daughter of an artist and college professor, Leesa Rowland grew up in Austin, Texas, where she studied broadcast journalism and later became a classically trained actress at the world-famous Stella Adler studio in Los Angeles.

Beyond her long career and credits as a film and television actress, she is also known for her work as a philanthropist and animal rights activist. A vegan dedicated to healthy eating, she has been active with the national nonprofit Last Chance for Animals since 1989 and is president of the New York-based nonprofit Animal Ashram, which she founded in 2013.

As she continues to expand her philanthropic work and involvement with these and other charities while exploring new dramatic roles, Leesa has recently begun adding something else exciting to her sizzle reel. : the actress. A lifelong sitcom fan, she took acting lessons from Richard Kline – the actor best known as Larry in the late 1970s classic Three’s Company – in Los Angeles. She also studied improvisation and sketch comedy in New York at the famous Upright Citizen’s Brigade whose alumni include Amy Poehler, Horatio Sands, Matt Besser, Matt Walsh and Ian McKay. For more information, visit leesarowland.net.

Norah Lawlor
Lawlor Media Group, Inc.
+1 212-967-6900
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The Best, Cheapest, and Most Affordable US Cities with Low Cost of Living

  • The cost of living is rising all over the United States.
  • As finances weigh on Americans and the pandemic reshapes our lives, many are rethinking where they want to live.
  • The South could offer migrant homebuyers a more affordable cost of living.

It is becoming more and more expensive to live in the United States.

Due to rising inflation, US households paid almost $500 more in expenses in June compared to what they would have spent in 2018 and 2019.

With the shift to remote work and the general sense of reprioritization during the pandemic, many Americans are rethinking where they want to live.

An important factor for potential movers is the cost of living in a city and how much extra money they will have left after paying their rent or mortgage.

“With inflation rising so aggressively and people’s weekly wages and incomes not rising at the same rate, we are left with less discretionary money to spend each month,” said George Ratiu, head of economic research at Realtor.com, in a statement.

To determine where homebuyers can get the most bang for their buck, personal finance firm Kiplinger has ranked the least expensive cities in America.

Using data from the Council for Community and Economic Research, the company measured prices for housing, groceries, transportation, health care and various goods and services. After sorting through hundreds of cities and prices, Kiplinger’s researchers were able to identify places with the absolute lowest cost of living, primarily south of the Mason-Dixon line.

In states like Texas, Tennessee, and Alabama — which appear on the list multiple times — homebuyers can find several metros where they can expect a lower cost of living than the national average. But if the South isn’t your thing, here’s a comprehensive list of places you can living on a budget in the USA.

Cops 4 Cancer raises record amount Saturday at Cedar Point – Shaw Local


The 2022 Cops 4 Cancer summer event at Cedar Point raised a record amount of funds for the nonprofit organization dedicated to helping Valley Illinois residents with cancer and coping to the financial perils that the disease also creates.

The event totaled $121,984.

Cops 4 Cancer celebrated its 19th year by hosting its flagship event. Organizers said it started with a dream of Terry Guisti “doing something” with the support of his family and friends.

“We started in my backyard,” Guisti said in a press release posted on the Cops 4 Cancer Facebook page. “This party has become an amazing event that so many great people benefit from. It makes us all proud.

For many years, funds raised were directed to the now-disbanded Illinois Valley Community Hospital Foundation. In 2010, the decision to break with this relationship and have more decision-making power was taken. In 2011, Cops 4 Cancer had legally become a 501(c)3 charity and began directly helping families with their financial needs while battling cancer.

“We may be far from the humble beginnings of the Guistis organizing the first fundraising event, but we’re not too far off to recognize how important it is to stay connected to why we do what we do,” President Betty Glynn said. . “We believe in making a difference. If you attended on Saturday, you were greeted with much love and appreciation for believing in C4C and this community.

The event’s contributors, attendees, volunteers and musicians helped make it a perfect day, organizers said.

“America’s Got Talent 2020 No. 1 winner and an incredibly talented country artist, Austin Edwards grabbed the headlines and gave an impressive performance,” Glynn said. “Austin lost both parents to cancer and was only 6 years old when his mother fought. Austin along with our local talent from Fueled by Whiskey, the Alika Arlynn Band and Country Roots were just amazing.

Anyone wishing to continue contributing to this campaign can do so by visiting www.cops4cancer.com or by mail: Cops 4 Cancer, PO Box 1461, La Salle, IL 61301

Brady Corporation appoints Olivier Bojarski as President of

MILWAUKEE, Aug. 05, 2022 (GLOBE NEWSWIRE) — Brady Corporation (NYSE: BRC) (“Brady” or “Company”), a global leader in identification solutions, today announced the appointment of Olivier Bojarski to the position of from President – Identification Solutions, effective August 25, 2022. Mr. Bojarski will report to Brady President and Chief Executive Officer Russell Shaller and lead the company’s largest global division with net sales for fiscal year 2021 d approximately $841.5 million.

Mr. Bojarski joins Brady from Belden Incorporated, where he served as executive vice president of the broadband and 5G business with global responsibility for connectivity and cable solutions sold in the wired and wireless broadband markets. . While at Belden, he also served as President of Thinklogical, a supplier of high-performance switches for commercial and military applications, as well as Vice President and General Manager of the EMEA Smart Buildings business with responsibility for networking solutions in data centers. , commercial buildings and the contractor market. Prior to joining Belden in 2016, he was Managing Director of a business unit comprised of three global infrastructure companies within the electrification division of ABB Ltd. Prior to joining ABB Ltd., Mr. Bojarski held several positions of increasing responsibility with Panduit Corporation. Mr. Bojarski holds a bachelor’s degree in electrical engineering from the Georgia Institute of Technology and a master’s degree in business administration from Georgia State University.

“Olivier brings extensive global expertise and leadership experience as well as a track record of success in growing top line and bottom line,” Mr. Shaller said. “His strong technical and international experience is a great addition to the Brady team as we execute our growth strategy in identification solutions.

“Brady’s Identification Solutions business is an industry leader with innovative security and identification products and an excellent team of dedicated and talented professionals,” said Mr. Bojarski. “I look forward to working with the Brady team to exceed our customers’ expectations and continue to drive future growth.”

Brady Corporation is a global manufacturer and marketer of comprehensive solutions that identify and protect people, products and places. Brady’s products help customers increase safety, security, productivity and performance and include high performance labels, signs, security devices, printing systems and software. Founded in 1914, the company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and various other industries. Brady is headquartered in Milwaukee, Wisconsin and, as of July 31, 2021, employed approximately 5,700 people in its global operations. Brady’s sales for fiscal 2021 were approximately $1.14 billion. Brady’s shares trade on the New York Stock Exchange under the symbol BRC. More information is available at www.bradyid.com.

For more information:
Investor Contact: Ann Thornton 414-438-6887
Media contact: Kate Venne 414-358-5176

Another Phishing Attack That Bypasses Multi-Factor Authentication Targets Microsoft Mail Users


Zscaler cybersecurity research analysts have uncovered a new large-scale phishing campaign targeting Microsoft email users. The primary targets of the campaign are enterprise users, particularly end users in enterprise environments who use Microsoft email services.

image credit: Zscaler

Attackers use so-called Adversary-in-The-Middle (AiTM) techniques to bypass multi-factor authentication (MFA) protections. Microsoft released information about a similar attack in early July. The attack described by Microsoft targeted more than 10,000 organizations and used AiTM techniques to bypass MFA protections.

Zscaler describes the new attack as highly sophisticated. It “uses an adversary-in-the-middle (AiTM) attack technique capable of bypassing multi-factor authentication” and “multiple evasion techniques used at different stages of the attack designed to bypass messaging and security solutions. conventional network security”.

The majority of organizations targeted by the malicious campaign are based in the United States, United Kingdom, New Zealand, and Australia. The main sectors are FinTech, Lending, Finance, Insurance, Accounting, Energy and Federal Credit Union industries.

The attack begins by sending phishing emails to Microsoft email addresses. It all depends on these phishing emails and the users interacting with them. Malicious emails may contain a direct link to a phishing domain or HTML attachments containing the link. In any case, it is necessary for the user to activate the link to trigger the chain of infection.

Similar to the phishing campaign previously described by Microsoft, the uncovered campaign phishing emails use various subject lines to attract users’ attention. One email suggested it contained an invoice to review, another that a new document had been received and needed to be viewed online.

The campaign uses several redirect techniques. For example, he used the legitimate CodeSandbox service in the campaign to “quickly create new code pages, paste a redirect code into them with the latest URL of the phishing site, and mass-mail the link to the code. hosted redirect to victims”.

Phishing sites used fingerprinting techniques to determine if the page visitor is a targeted victim of the campaign or someone else. Zscaler believes this is done to make it harder for security researchers to gain access to phishing sites.

Proxy-based AiTM phishing attacks sit between the user’s device and the target service. They control the flow of data and manipulate it. Ultimately, it retrieves the session cookies generated during the process to access the mail service without having to log in again or complete the login process using MFA.


Phishing campaigns are getting more and more sophisticated, but a common thread for most of them is that they require user activity. Power users know how to scan emails to see if they are from a legitimate sender, but the majority of users lack these skills.

Now you: do you scan emails before opening links or attachments?


Another Phishing Attack That Bypasses Multi-Factor Authentication Targets Microsoft Mail Users

Article name

Another Phishing Attack That Bypasses Multi-Factor Authentication Targets Microsoft Mail Users

The description

Zscaler cybersecurity research analysts have uncovered a new large-scale phishing campaign targeting Microsoft email users.


Martin Brinkman


Ghacks Technology News



Cost-cutting measures from Warner Bros. Discovery ranks CNN employees

  • Warner Bros. travel and entertainment expenses. Discovery have been reduced under a new policy.
  • Staff can no longer afford a free lunch for meetings under three hours.
  • Broader cost-cutting measures are expected following the company’s earnings call.

The chief financial officer of Warner Bros. Discovery’s Gunnar Wiedenfels is looking for cost cuts wherever he can find them to hit a $3 billion synergy target for Wall Street after Discovery acquired WarnerMedia for $43 billion. But CNN users, long accustomed to the spendthrift largesse of former chief Jeff Zucker under the WarnerMedia regime, are bristling at some new aspects of the travel and entertainment policy that went into effect last month.

An article on the chopping block: a free pizza.

Staff typically order lunches to lure colleagues into the office for in-person meetings, a CNN executive told Insider, but it is now stipulated that food cannot be spent on such meetings unless they only last three hours or more. Although employee gifts can still be purchased for bereavement, birth and other life events, according to an email memo reviewed by Insider, they cannot exceed $100 and gift cards and vouchers are not allowed.

The T&E policy details what is allowed for different levels of team meal and retreat management planning, even specifying “no cap” for the CEO. The maximum hotel rate for employee travel has been reduced to $400 per night, although New York’s allowance has increased to $550.

Separately, there have been some difficulties regarding the July switch from conferencing provider Webex to Zoom. At a recent town hall meeting in late July, staff received a message that they could not access the meeting online because it had exceeded 500 people. Some staffers had to huddle in groups around cellphones and laptops to hear the executive speak, the executive told CNN.

CEO Chris Licht, now just over three months in his new role, is expected to hold another Q&A session for staff next week.

Much greater cost-cutting measures are expected to be detailed in Warner Bros.’ earnings call. Discovery Thursday. In June, the company began offering voluntary buyouts in its U.S. sales division, with the goal of eventually reducing 30% of the company’s 3,000-person global sales forcethe Information reported.

A separate person familiar with the speculation inside Turner – which encompasses CNN, TNT and TBS as well as Turner Sports – has suggested that some staff fear between 600 and 800 people will be cut from the sales teams of Turner. Another WBD insider pegged the number at significantly less.

A fourth source familiar with the conversations told Insider that details of the rollout of the soon-to-be-combined HBO Max and Discovery+ streaming services would be discussed during the earnings call.

Discovery+ announced Thursday that it will launch a CNN Originals hub, starting August 19, which will feature CNN movies and series such as Anthony Bourdain’s “Parts Unknown.”

Source Intelligence Acquires Compliance Map

FORT WALTON BEACH, Fla., Aug. 03, 2022 (GLOBE NEWSWIRE) — Source Intelligence, the industry-leading SaaS company for supply chain compliance and transparency, announces its acquisition of Compliance Map, an environmental compliance platform and of the supply chain, as of Monday July 18.

Compliance Map specializes in enterprise software solutions to automate obligations arising from material compliance regulations (such as RoHS and REACH), conflict minerals, extended producer responsibility, supply audit management accountability, country or origin requirements and supply chain transparency.

This acquisition enables Source Intelligence to expand its global presence in Europe and APAC, expand its team of supply chain compliance experts, and enhance its ability to assist clients in a regulatory landscape in constant evolution.

“Having seen Compliance Map build a solid reputation with very satisfied clients over the years, we are excited to integrate their solutions with our software to create the all-in-one compliance and ESG solution for the supply chain. most comprehensive supply,” comments Glenn Trout, CEO of Source Intelligence. “Combining Compliance Map with our software means we can provide a fully integrated customer experience. For current and future customers, it means less risk and uncertainty, and more trust.”

Compliance Map President Anthony Delengaigne is confident in what the two companies will accomplish and how clients around the world will benefit from the fusion of a shared culture and vision.

“Source Intelligence shares the same customer- and people-centric culture and mission as Compliance Map, which has enabled us to deliver quality customer-centric solutions,” says Delengaigne. “I feel inspired by what our collective value team will bring to this shared vision and together we are confident that we can continually evolve and innovate our platform.”

The combination of Compliance Map’s sophisticated software with Source Intelligence’s state-of-the-art database will provide customers with the most comprehensive supply chain compliance software in the world.

“Compliance Map’s impressive software and Source Intelligence’s regulatory expertise and data collection capabilities make a powerful combination,” says Trout. “What excites me the most about the combination of Compliance Map and Source Intelligence is that we will be able to provide our customers with a superior supply chain compliance solution, as well as the foundation most comprehensive and highest quality data available.”

About Source Intelligence: Source Intelligence provides industry-leading supply chain compliance SaaS solutions that streamline the evolving complexities of sustainable sourcing and parts and component management in supply chains. With a team of long-time PhDs, scientists and executives, Source Intelligence solutions deliver positive results for supply chain transparency, obsolescence management, ESG initiatives and more.

About the compliance card: Compliance Map is the world’s most comprehensive environmental and supply chain compliance software with over 120,000 users worldwide. Its sophisticated solutions, along with a team of regulatory compliance experts, help clients manage and automate due diligence obligations for Global RoHS, REACH, EPR, Conflict Minerals and more.

Press contacts: Amanda Lindberg, Director of Marketing

Phone: 877.916.6337

Email: [email protected]ceintel.com

Related images

Figure 1: Source Intelligence Logo

The official Source Intelligence logo

This content was posted through the press release distribution service on Newswire.com.

UK already in recession as cost of living crisis hits household incomes



In a grim assessment by the National Institute for Economic and Social Research, average real disposable income will fall by an unprecedented 2.5% this year and remain 7% below its pre-Covid level until 2026.


It also estimated that the number of households living paycheck to paycheck would nearly double to 7 million by 2024, including 5.3 million without any savings. They will be forced into debt or into arrears as soaring energy bills eat away at incomes, the group said.

The warning of a recession, which the NIESR says has started this quarter and will continue until early 2023, is a stark reminder of the challenges facing the two candidates vying to replace Boris Johnson as Premier minister. Economists have said the depth of the crisis will force the government to respond, suggesting a set target is needed instead of the financial management approach of the past.

He also pointed to calculations showing the economic gap between London and the rest of the UK is widening. This suggests that the government’s flagship policy of “leveling off” less affluent areas is falling short.

The think tank suggested that the UK’s most vulnerable needed extra help in the face of consumer price inflation which it said would hit nearly 11% this year. Retail price inflation, meanwhile – a broader measure used to set increases in train fares and government interest costs, will hit 17.7%, the highest since 1980,

In response, he sees the Bank of England raising interest rates to 3% next year. Unemployment will exceed 5% as demand falls, according to projections.

“It is now up to the Monetary Policy Committee to ensure that inflation comes down next year and to the new Chancellor to support the households most affected by the recession and the squeeze on the cost of living,” Millard said.

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
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Unschooled – Diary

Is a focus on school the only way to achieve the SDG-4 targets, especially when it comes to educating out-of-school children? In fact, many might see it as part of the problem rather than the solution. This is not intended to ignore the important role that the school plays as a social institution in public education, but rather to highlight its limitations in enabling inclusion by meeting the needs of all children, especially from poor, oppressed and socially marginalized backgrounds. . If this point seems plausible, it is suggested that achieving SDG-4 requires planning and acting on multiple alternative measures to ensure that no child is left behind in the process. education (here, the term “education” is broad and goes beyond schooling).

The world of school and the world of poor children are oceans apart. There is often a contradiction between what is “compulsory” for schools and what is “necessary” for children from disadvantaged backgrounds. The flexibility to reconcile the two is absent and as a result children drop out of school or never attend.

Let’s compare the two “worlds”: the typical school world and snippets of a typical day in the life of a poor child.

The school world is made up of a certain pattern of actions and activities governed by a set of rules and regulations. Some of the processes governed by it could include: admission criteria, fees, schedules, exams, etc. By enforcing the rules and regulations, the school aims to regulate time as well as the mind, body and heart of the subjects i.e. the children. All those who wish to be “students” must comply with the rules established by the school. But such rules and regulations may not be for everyone.

The world of school and the world of poor children are oceans apart.

Compare the demands of school with the world of a child living in poverty. Take the example of a 12-year-old boy who is forced to take on financial responsibility for his family from an early age due to his father’s poor health. What would his usual routine be? This boy’s day would start soon enough. He would go to the sabzi mandi to buy vegetables, organize his vending cart, go from street to street trying to sell his wares, and after working nearly eight to ten hours, he would return home with a small sum of money. money to buy medicine and insufficient food for the family. With such a routine, how can he be present at school in a neat and clean uniform when the bell rings in the morning, signaling the start of the school day?

Thus, the schools’ claims contradict the lived realities of economically disadvantaged and socially marginalized children. Instead of being sympathetic to the situation of these out-of-school children, they are often labeled as ‘illiterate’, ‘uneducated’ and ‘deficient’. Such labeling needs to be questioned – if we were to look beyond the formal literacy box of the formal three Rs (reading, writing and arithmetic), we would find that these children exhibit a high level of intelligence social, interpersonal skills, communication skills, spatial intelligence (critical awareness of social spaces and risks) etc.

A challenge in this regard is that academia, including formal educational institutions, has not developed a reliable ‘translation’ mechanism that can validate these extracurricular literacies and confer the status of ‘legitimate’ knowledge.

There is a need to “de-school” the educational imagination globally to open up alternative ways of learning that appreciate the complexity of the lived realities of marginalized children in society. The process of reinvention can benefit from identifying these children’s “out-of-school literacies” and life situations as starting points and building blocks for improving their quality of life.

It is recommended that in designing inclusive development for out-of-school children, instead of adopting a school-centric approach, a more sensitive view of the edge be adopted in order to rethink inclusive educational and social policies and to design interventions to ensure the well-being and development of marginalized children.

Perhaps the agenda of SDG-4 (equitable, inclusive and quality education for all) could be better served if the whole issue was reframed as “children out of educational reach” instead of “children unschooled”. This inverted view can open up multiple inclusive pedagogical possibilities.

Let us recognize that it is not the children who have “fallen” out of “school”, but rather “school” which seems to “fall” out of their lives.

The author is an educational sociologist and educational ethnographer.

[email protected]

Posted in Dawn, August 2, 2022

Environmental factor – August 2022: Toxic agents can target mitochondria and influence disease, expert says


Environmental pollution is a major global health problem, responsible for around nine million premature deaths a year, according to a recent publication in The Lancet Planetary Health. The study found that ambient air pollution and toxic chemicals created by increasing industrialization and urbanization pose the greatest threat to human health.

“I think it’s worth asking – what do we know about these chemicals?” said Duke University associate professor Joel Meyer, Ph.D.referring to the publication during his NIEHS Keystone Scientific Conference on July 20. “Keeping up with new chemicals in the environment and understanding which ones really matter from a human health perspective is crucial.”

Meyer’s lab studies how environmental agents can affect mitochondrial function and cause DNA damage, setting the stage for disease. (Photo courtesy of Joel Meyer)

His lab focuses on how pollutants affect mitochondria — tiny organelles in our cells that produce energy — and potentially influence disease. Toxicology tests have indicated that many environmental agents target mitochondria, and Meyer aims to shed light on how such exposures can pave the way to poor health.

Advancing key scientific knowledge

“Mitochondria are obviously involved in energy generation and the regulation of cellular apoptosis,” Meyer said. (Apoptosis refers to programmed cell death. Learn more about its important biological functions.) “But they also do a lot of other things. They’re involved in calcium homeostasis, thermogenesis, steroid and heme synthesis, innate immunity, and epigenetics.

With this diversity of biological roles comes a diversity of harm when things go wrong, Meyer noted. Diabetes, cancer, metabolic syndrome and neurodegenerative diseases have all been linked to mitochondrial dysfunction, he told participants.

Daniel Shaughnessy, Ph.D., NIEHS Scientific Health Administrator, and Leroy Worth, Ph.D., Scientific Review Officer at the institute, co-hosted Meyer’s talk.

“Given the central role of mitochondria in a variety of important cellular processes, assessing how toxic exposures affect mitochondrial function is critical as it will help us better understand how cells respond to environmental stress,” Shaughnessy said. . “Dr. Meyer’s research on mitochondrial toxins has important implications for our understanding of the risks of multiple diseases across the lifespan.

Developmental origins of the disease

In 2021, Meyer’s lab showed that in Caenorhabditis elegans, which is a model nematode worm often used in environmental toxicology studies, early exposure to low levels of ultraviolet C (UVC) resulted in mitochondrial DNA damage. Such damage caused health problems later in life, including increased sensitivity to other toxic substances. Humans are not normally exposed to UVC, which is blocked by the ozone layer, but its effects are similar to those caused by polycyclic aromatic hydrocarbons and aflatoxin B1, which is carcinogenic.

Despite the fact that mitochondrial DNA damage was removed by natural processes, over time worms exposed to UVC showed much lower energy levels than worms that were not, observed Meyer and his team.

“One of the big effects we saw was that ATP levels, which normally rise when a worm reaches adulthood and then fall back in older life, followed the same pattern in UVC-exposed worms. , but were consistently, throughout life, 30-50% lower,” he said.

The study suggests that exposure to toxic chemicals can affect organisms differently depending on their exposure history, according to Meyer.

“I would also note that individuals with differences in mitochondrial protein-coding genes, such as disease genes and possibly allelic variants, are likely to be at greater risk for toxic effects from these exposures,” a- he added. “Alternatively, exposures could trigger the presentation of a genetically caused mitochondrial disease. This is critical because at least 1 in 5,000 people suffer from mitochondrial disease.

To learn more about research in this area, visit the Meyer Laboratory website.

Quote: Hershberger KA, Rooney JP, Turner EA, Donoghue LJ, Bodhicharla R, Maurer LL, Ryde IT, Kim JJ, Joglekar R, Hibshman JD, Smith LL, Bhatt DP, Ilkayeva OR, Hirschey MD, Meyer JN. 2021. Mitochondrial DNA damage in early life results in lifelong deficits in redox signaling-mediated energy production in Caenorhabditis elegans. ORP Biol 43:102000.

(Lindsay Key is a contract writer for the NIEHS Office of Communications and Public Liaison.)

Royal Caribbean Group Announces Proposed Convertible Senior Notes Offering to Refinance Existing Outstanding Convertible Senior Notes


MIAMI, August 1, 2022 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) announced today that it has launched a private offering of convertible senior notes to be issued by the Company due 2025 (the “Company”). Convertible Notes”) in a set principal amount of up to $900 million. In addition, the Company intends to grant the initial purchasers an option to purchase up to a $135 million principal amount of convertible notes.

“The purpose of the offering is to replace certain of the existing short-term convertible bond maturities with new, longer-term convertible bonds on a non-dilutive basis for shareholders, as described below,” said Naftali HoltzChief Financial Officer of Royal Caribbean Group.

The Company intends to use the proceeds from the sale of the Convertible Notes to redeem a portion of its 2.875% Convertible Senior Notes due November 15, 2023 and 4.25% Convertible Senior Notes June 15, 2023 (the “Existing Convertible Bonds”) (including to pay the fees and expenses of such redemptions) through open market purchases, privately negotiated transactions, takeover bids or otherwise. The Company intends to withdraw the Existing Convertible Bonds so purchased.

“The proposed transaction proactively addresses the near-term maturity of our existing convertible notes,” Holtz said. “With the proceeds of this offering, our intention is to opportunistically repurchase the existing convertible notes, and we have the ability to settle the remaining notes in cash to meet our convertible debt maturities in a manner that is net neutral. for our outstanding shares and share equivalents.”

The Convertible Notes will be convertible at the option of the holder in certain circumstances. Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, at its option, as the case may be, cash, common stock or a combination of cash and common stock.

Convertible Notes are being offered only to persons reasonably considered to be qualified institutional purchasers pursuant to Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). Convertible Notes will not be registered under the Securities Act or any state securities law and may not be offered or sold in United States failure to register or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy Convertible Bonds or any other securities and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer , solicitation or sale would be unlawful. This press release is issued pursuant to Rule 135c of the Securities Act.

Caution Regarding Forward-Looking Statements

Certain statements in this press release relating to, among other things, our estimates, forecasts and projections of future performance constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to: statements regarding revenues, costs and financial results for 2022 and beyond. Words such as “anticipate”, “believe”, “could”, “lead”, “estimate”, “expect”, “goal”, “intend”, “may”, “plan”, “project”, “seek”, “should”, “shall”, “should”, “considering” and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied in these forward-looking statements. Examples of such risks, uncertainties and other factors include, but are not limited to, the following: the impact of the global incidence and continued spread of COVID-19, which has had and will continue to have a negative impact f material to our business, liquidity and results of operations, or other contagious diseases to economic conditions and the travel industry generally and the financial condition and results of operations of our Company specifically, such that: governmental and self-imposed travel restrictions and customer cancellations; our ability to obtain sufficient financing, capital or revenues to meet cash requirements, capital expenditures, debt repayments and other financing needs; the effectiveness of measures we have taken to improve and meet our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business, including the conflict between Ukraine and Russia, such as cruise demand, passenger spending and operating costs; incidents or negative publicity regarding our ships, port facilities, land destinations and/or passengers or the cruise industry generally; concerns regarding the safety, health and safety of guests and crew; our COVID-19 protocols and any other health protocols we may develop in response to infectious diseases may be costly and less effective than expected in reducing the risk of infection and the spread of such diseases on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to find our crew or provisions and supplies from certain locations; increased concerns about the risk of illness on our ships or when traveling to or from our ships, which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US foreign travel policy; uncertainties associated with conducting business internationally and expanding into new markets and new businesses; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in agreements governing our indebtedness that limit our flexibility in operating our business; the impact of foreign exchange rates, the impact of rising interest rates and fuel prices; settlement of conversions of our convertible notes, if any, into common stock or a combination of cash and common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock in the near future; competition in the vacation industry and changes in industry capacity and overcapacity; the risks and costs of cybersecurity attacks, data breaches, protecting our systems, and maintaining the integrity and security of our business information, and the personal data of our guests, employees, and others ; the impact of new or changing laws and regulations or governmental orders on our business; pending or impending litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; the impact of problems at shipyards, including ship delivery delays, ship cancellations or increases in ship construction costs; unavailability of the shipyard; the unavailability or cost of air service; and the uncertainties of a foreign legal system because we are not incorporated into United States.

In addition, many of these risks and uncertainties are currently exacerbated by, and will continue to be exacerbated by, or may be exacerbated in the future by, the COVID-19 pandemic. It is not possible to predict or identify all of these risks.

Forward-looking statements should not be relied upon as a prediction of actual results. Undue reliance should not be placed on the forward-looking statements contained in this press release, which are based on information available to us as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Royal Caribbean Group

Royal Caribbean Group (NYSE: RCL) is one of the world’s leading cruise lines with a global fleet of 64 ships traveling to approximately 1,000 destinations worldwide. Royal Caribbean Group owns and operates three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises and Silversea Cruises and also owns 50% of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have 10 additional ships on order from June 30, 2022. Learn more about www.royalcaribbeangroup.com Where www.rcinvestor.com.

SOURCE Royal Caribbean Group

Agency market now targeting $9 billion after record spending in June, Q2, H1 and fiscal year: SMI


The Australian news agency market has emerged stronger and more confident from the COVID pandemic, with Standard Media Index year-end ad spend revealing record levels of ad spend for the month of June, the June quarter and fiscal year 2021/22.

June’s total ad spend rose 0.4% from last year’s all-time high to a new all-time high of $775 million, resulting in a 7.1% increase in ad spend in the June quarter to a record $2.26 billion, up $150 million from the second quarter of 2021 and on schedule to grow 10.6% year-on-year to a record $4.2 billion.

Radio increased by 1.6%, with overall audio increasing by 4.2%.

And the managing director of SMI AU/NZ Jane Ractliffe says it all culminated in an extraordinary result for fiscal year 2021/22, with the Agency’s total billings increasing by $1.1 billion from the previous fiscal year to $8.8 billion, representing growth of 14.5%.

She says, “SMI’s latest fiscal year ad spend detail confirms that the Australian market is well past the COVID period, with total fiscal year ad spend now 6.4% or $528m higher than of the pre-COVID 2018/19 period.

“The data also confirms continued growth in agency advertising spend in Australia, with the market arguably on track to reach

$9 billion next year, after growing more than 35% – or $2.3 billion – in the past ten years (since fiscal year 2011/12).”

And Ractliffe says the fiscal year record also remained when government category ad spend was removed to normalize data for all federal elections, with total ad spend growth still up 7.4% on this basis.

Ractliffe also says SMI data proved the Australian and New Zealand markets were also more resilient in June than their global counterparts, with New Zealand also reporting a slight increase in ad spend in June (+0.2%) while whereas, on the other hand, US data from SMI has just revealed the first drop in this market in 22 months (-3% YOY); while in Canada the market fell 4% in June and in the UK the drop was 13%.

She says, “It’s clear that advertisers in our region are more confident about the future than those in the northern hemisphere, as they continue to invest heavily in their media investments.

In Australia, the key product category trend this year has clearly been the phenomenal growth in government advertising spending, with a total increase of $200 million over the prior year to over $550 million, surpassing the automotive brand category as the second largest in our market.

Another key trend has been the return of ad spend in the Travel category, with the total increasing by 31% this fiscal year and continuing to improve its ranking in each period, so that in the month of June, travel is become the fourth market in the market, increasing by 36.6% per year. -on-year.

Among major media, standalone digital media saw the strongest gains in June and for the full year (+10.9% and +25%), with video media increasing 7.7% over the fiscal year, audio advertising spending increasing 11.2%, news media advertising spending increase 3.3%; Magazine revenues increased 5.7% and cinema ad spend more than doubled this fiscal year to $59.3 million.

Ractliffe says, “But as all traditional media outlets continue to increase their digital-related ad spend, it’s clear that the biggest shift from the COVID pandemic has been the continued growth of standalone digital media, with total ad spend shifting to standalone digital since fiscal 2019/20 period now just above $900 million.

The wealth of women is increasing. When will finance catch up?


The Euro 2022 women’s football championship has drawn record crowds, filling huge stadiums that until very recently were reserved for men’s matches. If there was any doubt about the commercial viability of women’s football, Euro 2022 showed that with enough commitment, change can happen very quickly.

Other social changes are taking place more discreetly, but they are no less revolutionary.

More than 60% of Britain’s assets will be in the hands of women by 2025, according to a forecast by the Center for Business and Economic Research. This means that older women in particular will need to engage in more financial planning.

Several factors contribute to this change. There are twice as many women as men aged 90 or older, for example, and divorce rates among retirees, known as “money splitters,” are rising even as the total number of divorces falls. This often leads to older women taking on greater financial responsibility at a stage in life when many are looking to make things less complicated.

Among the myriad of issues older women can face, two stand out.

The most pressing issue is usually how to generate retirement income. In the past, there might have been pension income from the spouse to inherit, as well as a share of their partner’s state pension. Nowadays, a pension is more likely to take the form of a lump sum from which cash is withdrawn. It places a lot more burden on individuals to ensure that they are not living beyond their means.

For all its flaws, it’s worth remembering the 4% rule, which involves withdrawing 4% of your nest egg in your first year of retirement and increasing the drawdown in line with inflation thereafter. Many advisors today, however, consider that to be rather high. It also assumes that 50% of your fund is exposed to the stock market.

The second issue is that the default UK Inheritance Tax (IHT) advice is that all assets should pass to the surviving spouse after death. Indeed, a widow, or a widower, can inherit the estate of her partner totally free of inheritance tax and also assume her IHT allowances. Yet while this is tax efficient, it places a significant management burden on an often elderly partner.

For young women, the financial challenges can be very different. Income imbalances begin to be corrected by the better educational results of women. In the UK, women are now 35% more likely to apply to university than men, and according to the country’s Joint Council for Qualifications, 46.4% of girls achieved A* or A grades at level A in 2021, compared to only 41.7% for boys.

Women also tend to make better investors, but are attracted to more conservative savings vehicles, such as deposit accounts and individual savings accounts (ISAs). While useful for short-term savings and emergency funds, these products are not suitable for building longer-term wealth.

Historically, women have opened six times more cash ISAs than ISAs allowing for investing in stocks and shares; meanwhile, men are 25% more likely to invest in stocks and stock ISAs than women. Helena Morrissey, president of financial platform AJ Bell, once described this preference for conservative savings accounts as “recklessly cautious”.

As a general rule, the longer your investment horizon, the greater your exposure to stocks and funds should be. Thus, for young women who invest for their retirement, it is advisable to have a significant exposure to the stock market. There is plenty of time for suitably diversified investments to recover from any mid-market volatility.

However, a big problem for men and women is which investment fund to choose. The Hargreaves Lansdown investment platform alone offers more than 3,000 funds. The variety can be overwhelming to the point of paralysis. Faced with so many choices, many novice investors choose to avoid the problem altogether.

Although a financial adviser can help you solve this problem, there are cheaper options. Many online brokers offer what is called robotic advice. A short survey determines your investment objectives and your appetite for risk and offers you a selection of suitable funds at low cost. For most people, simply starting to invest is far more important than precisely what they invest in, especially if the alternative is lengthy procrastination.

Comprehensive financial advice is essential for more complex issues, however, especially for people, usually women, who suddenly find themselves inheriting sole control of assets previously managed by their partner.

Many financial advisors recognize that their traditionally male industry has a problem with how it communicates with women. Consulting firm Schroders commissioned a report with several specific recommendations. The most basic is involving spouses in the conversation from the start and taking the time to understand a woman’s story and her support infrastructure.

At a broader level, the industry would benefit from recruiting more women as consultants. Although the situation is slowly improving, the Personal Finance Society estimates that only 22% of registered financial planners in the UK are women.

The Euro is just one demonstration of how, with enough support and enforcement, change can happen faster than people realize. The world of finance has some serious catching up to do to reflect the growing wealth of women.

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Stuart Trow is co-host of “Money, Money, Money” on Switch Radio and author of “The Bluffer’s Guide to Economics.” Previously, he was a strategist at the European Bank for Reconstruction and Development.

More stories like this are available at bloomberg.com/opinion

Cost of living crisis: Prime Minister Jacinda Ardern says we’re in business with the rest of the world


As the cost of living crisis shows no signs of abating, we take a look at some of the creative ways Kiwis across the country are saving money. Video / NZ Herald

Prime Minister Jacinda Ardern said she would be prepared to take an “honest” look at the drivers of inflation in New Zealand, but reiterated the country was in company with the rest of the world.

During TVNZ’s Q&A this morning, Ardern said the cause or driver of inflation came from global impacts rather than government spending, despite the fact that basic government spending was increased by 11% , excluding the Covid relief program, every year since 2018.

“It’s too simplistic for that to be a factor and I’ll let the Reserve Bank speak for itself if they consider that as well,” she said.

“I’m happy to honestly reflect on what gets us to this point, but when I look at the fact that we’re in such a business, whether you’re looking at Asian economies, economies in Europe or the United States, Canada or in Australia – we all have that experience.”

She said the government was willing to do what was needed to provide relief to the Kiwis and would continue to do so if inflation continued to rise.

Pressed on whether the $350 cost-of-living payment, the first installment to be deposited into the two million bank account on Monday, would only add to inflation, Ardern said it should have an impact minimal.

“The advice we received from the Treasury was that because it was time-bound and targeted, it would reduce the potential impact on inflation,” she said.

Targeting the winter energy payment, she said she was maintaining the fact that 80% of New Zealanders, some of whom would not need it – such as millionaires, are receiving this cash injection.

“So yes, global inflation, we’re having a tough time but we also expect it to go away and we’re well positioned to recover because there are so many other parts of our economy that are strong.”

“The responsibility we have is to help New Zealanders get through this and that’s where you’ll see we’ve been so focused on where we can reduce that pressure.

“You will see that we have tried to be nimble to the circumstances that we see and we will continue to see what impacts this has on New Zealanders and do what we can, we have a long way to go to get food costs down. down which is another big project for us.”

Ardern dismissed the opposition party’s idea that some spending, such as the restructuring of the health care system and a merger with TVNZ, has played on inflation.

“The opposition coming to us and saying their response would be to see a reduction, that is, a reduction in education, health care, law and order – where these investments Significant amounts have been spent maintaining and growing the services that New Zealand relies on.”

She wondered where a reduction response would impact the current inflation situation.

The cost of road construction | Features

How far would you drive for your favorite local business?
By Jillian Manning | July 30, 2022

Michigan is known for its four distinct seasons: fall, winter, again winter, and road construction. And while we put up with the construction season’s delays and detours for its main benefits — days of blue skies, green trails, and finally warm enough waters — those orange cones herald more than fresh asphalt for some local businesses. Road closures and detours can negatively impact the bottom line of NoMi businesses, especially those that rely on tourist traffic.

take a ride
The final clash of cones and commerce takes place on M-66. If you’ve driven the highway lately, you’ve seen “Road closed” or “Bridge Out” signs as you approach the section between Charlevoix and East Jordan. And if you took one of the two recommended detours, you got a 67-73 mile, albeit scenic, ride you might not have expected.

On July 11, the Michigan Department of Transportation (MDOT) launched a $1 million replacement project on the culvert that carries Monroe Creek (an offshoot of the South Arm of Lake Charlevoix) under M-66. The project is expected to last until September 2.

“During inspections, our maintenance staff discovered a separation in sections of the existing 72-inch steel pipe culvert at this location, which is causing under-pavement erosion and settlement issues, requiring replacement,” said James Lake, MDOT North Region. communication Manager. “We are replacing it with a 17-by-11-foot elliptical aluminum culvert, which is lighter to help avoid future settlements and will improve the flow of Monroe Creek.”

Although M-66 is only closed to through traffic between Lord and Lacroix Roads where the culvert is – approximately 1 mile – any traffic not heading to a destination along M-66 is rerouted along two long detours. MDOT cannot route trucks and other commercial vehicles on neighborhood roads or county roads, which means they must stick to state highways. And with Lake Charlevoix lining the east side of M-66 and virtually no major roads available to the west, MDOT was forced to get creative.

The first recommended detour takes you south on M-66 from East Jordan to Mancelona, ​​jogs west and north on M-88 to the top of Torch Lake, then brings you onto US-31 to Charlevoix where you can meet M-66 again. In total, the full detour is 73 miles and 1 hour and 30 minutes, according to Google Maps.

The alternative detour is only a little shorter. Southbound M-66 takes you to M-32, cruises near Elmira, hops on US-131 north to Petoskey, then follows US-31 along the coast through Charlevoix and heads south on M-66. This route is 67 miles and 1 hour and 23 minutes.

“Detours are important,” Lake acknowledges, “but that’s because we needed to identify detours on state highways that are built to accommodate commercial vehicles.”

The grass ain’t greener
Aquatic life may be happier with their new culvert this fall, but several nearby business owners fear the project will eat into their summer profits.

“We found that the fairly immediate impact reduced our business by at least 50%,” says Paul Vermeesch, co-owner of Stonehedge Gardens with his wife, Cindy.

Located 4 miles north of Lacroix Road on M-66, the rustic storefront is surrounded by flower-filled gardens, and the shop itself houses works by local artisans, housewares, antiques and specialty jewelry, this which makes it a popular summer stopover.

“We’re a seasonal business because most are here, and those are the busiest two months of the year,” says Paul, adding that July and August are the months when the business gets the most revenue. operating to maintain it for the next one. 10 months.

But Stonehedge falls on the wrong side of the shutdown for people coming from south or central northern Michigan, and even as far north as Petoskey drivers are advised to avoid M-66 and take the detour at the place.

“We’re definitely missing a lot of traffic,” Cindy said. “There won’t be that road traffic that we normally get.” She says she’s grateful that many locals know about the secondary roads, but fears that those who don’t will be put off by the closure and that visitors to the area will have no idea how to find Stonehedge.

Other affected businesses along the M-66 corridor north of Lacroix include Hungry Ducks Farm, Castle Farms, The Landing restaurant and Otis Pottery, to name a few. Right in the middle of the construction zone is Elm Pointe Park and Natural Area. The park is open, confirms the City of East Jordan, and the 59th annual Portside Art Fair remains scheduled for August 6-7, though attendees may need to do a little magic to get there.

The timing is tough for businesses, but MDOT had its own schedule restrictions.

“MDOT is not exempt from following fishing restrictions set by various wildlife organizations,” says Brad Swanson, construction engineer on the project. “We knew with a project like this, we had to be out of the river on October 1st for their needs.”

Swanson says the 8-week deadline couldn’t have fallen before Memorial Day (again, for fish restrictions) and MDOT wanted to avoid working on busy holidays like Memorial Day, July 4 and Labor Day. There would also be no time to complete the project in the fall, and Swanson says they were very aware of the return to school, which could have caused problems with buses.

“It was the best 8-week window to be able to combine other restrictions, holiday restrictions, mobility, tourism, as well as comply with these environmental restrictions,” says Swanson.

give us a sign
The Vermeeschs say they understand why the culvert replacement is underway and the MDOT had little choice in routes or timing – “it’s also a seasonal business,” jokes Paul – although they would have liked to have been informed of the project. so they can plan their summer and budget accordingly.

Cindy says they first heard a rumor about the culvert replacement and M-66 closing in February, but couldn’t confirm it with MDOT or their chamber of commerce. It wasn’t until Paul saw a sign advising drivers that construction would start in early July that they knew the project was underway.

Lake confirms that signage is one of the primary methods used by MDOT to raise awareness of plans, along with press releases, social media posts, and posting information to the travel site Mi Drive (Michigan .gov/drive). “We hope people see the news and the other methods we use to warn them, but often drivers, commuters and residents see these signs that they pass by every day,” he says.

Having only a few days to prepare for the closure has been a bit of a blow for Stonehedge Gardens. “[MDOT is] do whatever they can on a very necessary project,” says Paul. “I guess our only disappointment is not knowing [the project was happening], where we could adjust our purchases, advertising, signage, things like that. It affects our bottom line… getting out of COVID and all that is a tough road to walk.

Asked if the MDOT plans to help drivers know that M-66 companies are hungry for customers, Lake said, “We don’t have any signs specifically warning drivers that companies are hungry. accessible on the M-66, but we still see a lot of traffic to the north and south of the project location despite the closure We have added additional signs [last] week to help reinforce the message that the road is closed to through traffic and direct drivers to the detour. Complete closure of this project will allow our contractor to complete its work in a safer and faster manner, which will reduce the overall impact duration of the closure and detour.

Be sure to skip the Lord to Lacroix section of M-66, but as long as you’re not driving a tractor-trailer, there are plenty of safe and easy ways to navigate around the closure and reach businesses in the area. M-66. If you don’t have a Maps app to do the work for you, call the company you’re trying to reach and they’ll do their best to help you.

A not so rare situation
The tricky combination of roadwork closures and local business revenue has been a hot topic in northern Michigan for the past few years. For example, the Groleau Farmers Market in Traverse City was heavily impacted by a traffic circle installed on Hammond and Four Mile Roads in the summer of 2021. In June, they told 9&10 News they had seen a drop 75% in ice cream sales and a 50% drop. percentage drop in product sales.

Similarly, Rare Bird Brewpub in downtown TC found itself at the crossroads of two bridge projects in 2021. The restaurant-slash-brewery is located on Lake Avenue between Eighth and Cass streets, and, for much As of last summer, both the Eighth Street Bridge and the Cass Street Bridge were under construction.

Co-owner Tina Schuette says there was a “noticeable” change in business once construction began, to the tune of a 25-30% drop year-on-year. She notes that thankfully the city has been able to keep businesses informed in terms of timing, so neither the work nor the slowdown came as a surprise.

Rare Bird has focused its efforts on raising awareness among residents. “We posted messages on social media, sort of for locals to say, ‘Just so you know, tourists are having trouble finding us and it’s quiet! ‘” Schuette said.

Ducati announces record sales for the first six months of 2022 – Roadracing World Magazine


Ducati announces deliveries, sales and operating profit for the first half of 2022

Record turnover for the first half of 2022: 542 million euros, the highest figure ever recorded for Ducati in the first six months of the year

68 million in operating income, up compared to the first half of 2021

33,265 motorcycles delivered, the Multistrada V4 confirms its position as the most popular motorcycle among enthusiasts

Demand remains high with backlog up 86% year-on-year

Borgo Panigale (Bologna, Italy) – Ducati concludes the first six months of the year with excellent results, despite the challenges imposed by the current supply and logistics crisis. During the semester from January to June 2022, the company’s turnover increased by 5.4%, from 514 to 542 million euros. This is the highest figure ever recorded by the motorcycle manufacturer in the first six months of the year.

Operating profit also improved and increased by +14.8%, from 59 to 68 million euros compared to the same period in 2021.

The Bologna-based motorcycle manufacturer delivered a total of 33,265 motorcycles to enthusiast customers, containing a loss of deliveries of -3.6% compared to the same period in 2021 (34,515). This result was achieved thanks to great flexibility, constant dialogue with the partners and the union, despite the difficulties linked to the supply crisis.

Claudio Domenicali, CEO of Ducati: “2021 has been a record year for Ducati with the best result ever in terms of deliveries, revenue and operating result. 2022 is proving to be a more difficult year: despite strong demand from enthusiasts, as evidenced by the order portfolio which at the end of the first half is up +86% compared to the same period of 2021, the strong discontinuity in the world of logistics and supply remains.However, we have managed to obtain results satisfactory given the context in which we operate, particularly in terms of turnover, which is the best ever recorded in the first six months of the year. I would like to thank once again all the enthusiasts who continue to support us choose, and I personally apologize to anyone who has had or will have to wait longer than necessary to receive their bike.

Henning Jens, CFO of Ducati: “Ducati’s financial performance in the first half of 2022 again shows solid business improvement over the prior year. Given unpredictable supply chain challenges, including significant increases in the cost of raw materials and parts shortages, this result proves the great resilience of our financial structure and the flexibility of our operations. With 542 million euros in turnover, we reached a new record, driven by very strong demand from our customers. Also based on fixed cost discipline and improved margins, we could even increase operating profit to 59-68 million euros by 14.8% compared to the same period of 2021. a very solid liquidity position, we will continue our investments in the qualitative growth of Ducati with new attractive premium products.

The Chinese market is growing

Italy is confirmed as the first market for Ducati with 6,028 motorcycles delivered, followed by North America with 5,239 units, Germany with 3,745 motorcycles and France with 2,647. The figures are significant in China, which reached +12% with 2,411 motorcycles delivered.

The Multistrada V4 remains the best-selling motorcycle

Since its launch in 2020, the Multistrada V4 has enjoyed growing success with enthusiasts. Over time, it has been able to meet the expectations created, establishing itself as an ideal bike for any type of trip and taking its place among the most popular models in the Ducati range. Also for the first half of 2022, the Multistrada V4 is the most delivered motorcycle with 6,139 units. Next is the Monster, with 4,776 motorcycles delivered, and the Scrambler Ducati 800 family with 3,999 motorcycles.

Future investments and network expansion

Thanks to its solid financial situation, Ducati continues its ambitious development path that will lead the company to improve and develop further, also by entering new market segments, always respecting its values ​​of Style, Sophistication , Performance. All investments for technological development and product and process innovation are self-financed.

The continuous improvement and expansion of the global sales network, with the aim of serving the Ducatisti community around the world, is also an important part of the company’s growth path. Through the digitalization of processes and the omnichannel within its dealerships, Ducati wants to guarantee its enthusiasts an unforgettable experience that reflects the values ​​of the company. To date, the Ducati network has 797 dealerships in more than 90 countries around the world, 21 of which were opened in the first six months of 2022.

Reservoir Media publishes its first ESG report


NEW YORK, July 29 10, 2022 (GLOBE NEWSWIRE) — Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today released its first environmental, social, and governance report. (ESG), which details the Company’s global ESG goals and progress against those goals, and reinforces the Company’s strong commitment to corporate social responsibility.

Golnar Khosrowshahi, Founder and Managing Director of Reservoir, said: “We are proud to publish our first ESG report in our first year as a public company, as it shows our commitment to having a positive impact for all of our parties. stakeholders, including our employees. , communities, customers, shareholders and industry. Music has a powerful and growing global influence, and Reservoir and our roster of creators will aim to extend our impact to promote sustainability efforts, diversity and advocacy within our company and beyond.

Highlights of the report include:

Environmental impact and the fight against climate change

  • The majority of Reservoir’s assets are owned digitally, with only 9% of our total revenue generated from the physical product.
  • The Company conducts 99% of its royalty distributions electronically and will continue to strive to completely eliminate physical distributions.

Social responsibility and diversity

  • Reservoir is proud to be founded and led by a woman, a key distinguishing factor from our industry peers, and boasts that women hold 49% of leadership positions (VP ​​and above) in many departments and business areas of the company.
  • The Company conducted an employee satisfaction survey in 2022, with an 85% response rate from its staff. In particular, 89% of respondents answered Totally agree or Agree with the following statement: “I am proud of the diversity of the Reservoir team”. Additionally, 93% of respondents certified that they agreed or strongly agreed that they were proud of the diversity of the company’s roster of creators.
  • Reservoir experienced no management team turnover and a 6.25% turnover rate among full-time staff for fiscal year 2022, which is well below the national rate of 57.3%, according to the Bureau of Labor Statistics 2021 report.

Governance and Oversight

  • On average, Reservoir Board members have 19 years of leadership experience in music, entertainment and finance.
  • 7 out of 9 members of the Board are non-employee Directors and considered independent, within the meaning of NASDAQ rules.

About Reservoir Media, Inc.

Reservoir is an independent music company based in New York and with offices in Los Angeles, Nashville, Toronto, London and Abu Dhabi. Reservoir is the first independent music company founded and led by a woman in the United States. #1 releases in the world. Reservoir holds a regular share of the Top 10 in the U.S. market according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s A&R Awards, and won Independent Publisher of the Year at the Music Week Awards 2020 and 2022.

Reservoir also represents a wealth of music recorded through Chrysalis Records, Tommy Boy Records and Philly Groove Records and manages artists through its businesses with Blue Raincoat Music and Big Life Management.

Media Contact
Reservoir Media, Inc.
Suzy Arrabito
Vice President, Marketing and Communications
[email protected]

Contact Investor
Alpha IR Group
Alec Buchmelter or Alec Steinberg
[email protected]

Source: Reservoir Media, Inc.

EY set to post $45.4 billion in global revenue


EY has told staff it expects to report record global revenue of $45.4 billion for its latest financial year, as attempts to win support from top executives for a dissolution of its audit and of advice drag on.

Accounting firm Big Four released the figure during a call to its 312,000 employees worldwide, hosted by chairman and chief executive Carmine Di Sibio.

Revenue represents a 13.5% increase from the $40 billion in revenue EY reported for its prior fiscal year, which ended June 2021. Revenue was up 16.4% in currency local, people at the company said. EY typically releases its global earnings in September.

The jump follows a booming demand for professional services firms. All of the Big Four – which also include Deloitte, KPMG and PwC – saw sales increases last year.

PwC boss Bob Moritz told the Financial Times this month that he expected his firm to report record revenues of around $50 billion for the 12 months to June 2022. companies do not disclose their global profits.

Staff received little new information about EY’s proposed severance during Thursday’s call, according to people at the company. The split would be the biggest upset for a Big Four group in two decades.

EY plans to spin off and IPO its consultancy business, which offers advice, consultancy and managed services to companies, to free it from conflicts of interest that prevent it from winning work with its clients. ‘audit.

A spin-off would bring millions of dollars to thousands of partners if it goes through, but it must first win the support of the company’s global leadership before it goes to a vote in each of the national member companies that make up the EY network.

Di Sibio told the FT this month he hoped to have a decision “within the next two weeks or so” on whether EY’s global leadership intended to conduct country-by-country votes. But others within the company said the deadline for making a decision on whether to sue seemed to be slipping.

EY declined to comment.

Westhaven increases the size of the private placement without intermediary

VANCOUVER, British Columbia, July 27, 2022 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V: WHN) announces that it is increasing the size of its previously announced proposed non-brokered private placement financing. In accordance with the Company’s July 25e, 2022, press release, the placement was to consist of up to 6,818,182 flow-through (FT) common shares of the Company at a price of $0.44 per FT share for gross proceeds of up to $3,000,000. The placement will now be for up to 9,739,847 common shares of FT to raise gross proceeds of $4,285,533. The financing is expected to close on July 29, 2022. All other terms of the offering remain unchanged.

The gross proceeds of the offering will be used to incur “Canadian exploration expenses” (as defined in the Income Tax Act (Canada)) related to Westhaven’s projects in British Columbia, Canada. The Company will waive these expenses to purchasers with an effective date no later than December 31, 2022.

The private placement is subject to the approval of the TSX Venture Exchange. Westhaven may pay finder’s fees to eligible intermediaries as permitted by applicable securities laws and the rules of the TSX-V. All securities issued under the Offer are subject to a four-month hold period, during which time the securities may not be traded.

On behalf of the Board of Directors

“Shaun Pollard”

Shaun Pollard, Chief Financial Officer

Such. : 1.604.681.5558 Extension: 103
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new version contains forward-looking statements. These statements are based on current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially due to factors discussed in the “Management Discussion and Analysis” section of our interim and most recent annual financial statements or other reports and documents filed with the TSX Venture Exchange and regulatory authorities. Canadian Securities Regulations applicable. We undertake no obligation to update forward-looking statements, except as required by securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”), or any state securities law and may not be offered or sold in the United States or to or for the account or benefit of a United States Person (as defined in Regulation S of the US Securities Act) unless registered in under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

About Westhaven Gold Corp.

Westhaven is a gold-focused exploration company advancing the high-grade discovery of the Shovelnose Project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometers) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is located near a major highway, close to power, rail lines, major producing mines and within commuting distance of the town of Merritt, resulting in low cost exploration. Westhaven trades on the TSX Venture Exchange under the symbol WHN. For more information, please call 604-681-5558 or visit the Westhaven website at www.westhavengold.com.

ABSTRACT-Cost of living crisis? European consumers continue to spend


Europe’s biggest consumer-focused companies are not seeing a shortage of demand despite a cost-of-living crisis, prompting several to revise their sales forecasts for the current year upwards.

Britain’s Reckitt Benckiser, maker of cleaning products Dettol and Lysol, raised its full-year sales forecast on Wednesday after sharp price increases helped it beat sales expectations for the second trimester. o France’s Danone also raised its full-year revenue growth forecast after second-quarter like-for-like sales beat analysts’ estimates on strong demand for baby food and bottled water.

Like rival Unilever, Reckitt and Danone have relied primarily on price increases to generate revenue. The biggest question for investors is how long this will continue. “What we have seen is that the consumer has accepted these price increases but inflation is not coming down,” said Ashish Sinha, portfolio manager at Unilever and shareholder of Reckitt, Gabelli. “So as inflation rises, it raises questions about the elasticity of demand.”

Shops and supermarkets in Britain raised prices by 4.4% in the 12 months to July, the biggest rise since such records began in 2005, reflecting rising food costs and transport, the British Retail Consortium said on Wednesday. Even McDonald’s, which offers some of the cheapest high street meals, said on Wednesday it would raise the price of a cheeseburger by 20p to 1.19 pounds ($1.44) – the first increase in 14 years .

LUXURY GOODS IN HOT Middle- and upper-income households have been able to build up substantial savings during the pandemic as restrictions have made everything from vacations abroad to dining out more difficult. Although some of these savings have since been eroded by inflation, they still have more flexibility to purchase higher-end items.

In contrast, low-income households have been proportionally more affected by inflation than wealthier households, as more of their income is spent on essential items ranging from food to fuel and shelter. The increased affluence has led to a growing demand for luxury items such as sports cars and designer handbags.

LVMH, the world’s largest luxury goods company, reported better-than-expected second-quarter sales on Monday, with robust growth in the United States and a recovery in Europe offsetting lower revenue in Asia. “We have double-digit growth with most of our brands, so we can’t complain about European customers. On top of that, we have significant tourist activities in Europe,” said LVMH’s chief financial officer, Jean-Jacques Guiony.

American tourists vacationing in London spent more due to the strong dollar. For now, the increased prosperity of affluent consumers is offsetting the hit to the incomes of low-income people who spend less.

Automaker Mercedes, healthcare company GSK, chocolate maker Lindt and sportswear maker Puma also raised their sales forecasts this week. “This is one of those times where investors look at these results in Europe and think that…business has held up,” said Danni Hewson, financial analyst at AJ Bell.

($1 = 0.8293 pounds)

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

Unemployed workers wrongly accused of fraud can ask the state for money | app


DETROIT (AP) — Thousands of people who have been wrongly accused of fraud When claiming unemployment benefits can seek financial assistance from the state, Michigan’s Supreme Court ruled on Tuesday, breaking new ground when someone claims their constitutional rights have been violated by the government.

“The State is prohibited from violating the rights guaranteed by the Constitution. If he does, he is liable for the harm he causes,” Judge Megan Cavanagh wrote in a 4-3 opinion.

The three dissenters were Republican-appointed judges.

An automated computer system used during Governor Rick Snyder’s administration was a disaster over a two-year period. People have been accused of cheating to get unemployment assistance. They were forced to repay money, with heavy penalties, before the Unemployment Insurance Agency finally admitted widespread errors that affected more than 40,000 people.

Although the refunds have been scattered, the state is still being sued by people who claim their due process rights – a right to be heard – were violated as they tried to untangle themselves from the mess.

Some victims have had to hire lawyers to fight false findings of fraud. Others have gone bankrupt, lost their wages, suffered from poor credit or struggled to find jobs and housing.

The state Supreme Court has said it has the power to intervene, particularly when the Legislature has failed to introduce legislation that provides a remedy for people whose rights have been violated by the state.

“For our Constitution to work, the fundamental rights it guarantees must be enforceable. Our basic rights cannot be mere ethereal hopes if they are to serve as the foundation of our government,” Cavanagh wrote.

Dissenting, Judge David Viviano said the majority opinion was “love at first sight” with “a breathtaking sweep”.

“This represents a gross excess given that the judiciary has now seized the legislature to fashion remedies for all sorts of constitutional violations. … A deluge of cases and an inflated taxpayer liability will surely ensue,” said Viviano, who was joined by Judge Brian Zahra.

Viviano said it was the job of the Legislative Assembly to approve a solution if there was to be one.

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