Reality check: Is Donald Trump right about drugs and migrants coming across the Canada-U.S. border?By Krystal Hu and Niket Nishant (Reuters) -Databricks is in talks to raise up to $8 billion from investors that would value the data analytics company at $55 billion, in one of the largest fundraises in Silicon Valley, according to a source familiar with the matter. Most of the new funding would be in the form of a secondary share sale, where early investors and employees are allowed to cash out some of their stock holdings, the source said. It would also be used to cover the tax cost associated with the share sales, which could cost billions. Such deals can boost employee morale, since stock-based payouts typically comprise a big chunk of the compensation at startups, while allowing the company to sidestep an initial public offering under a deadline before the stock unit expires. Several high-flying startups are seeking to stay private for longer to avoid the regulatory burden and market volatility associated with being public. The flexibility via secondary sales also gives them more time to strengthen their finances. Fintech giant Stripe is reportedly seeking a valuation of $70 billion in a similar deal, according to a report by Bloomberg News. Sam Altman's OpenAI also raised $6.6 billion at a valuation of $157 billion last month. Major venture capital investors Thrive Capital and DST Global are participating in the fundraising by Databricks, two sources said. Databricks did not immediately respond to a Reuters request for comment. Its latest move was reported by CNBC earlier on Tuesday. The company had notched up a valuation of $43 billion after a $500 million funding round last year. Its global revenue jumped to $1.6 billion in the fiscal year ended Jan. 31, more than 50% higher than the year before. (Reporting by Krystal Hu in New York and Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)
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No. 24 UCLA is seeking its eighth straight win on Saturday against an Arizona team that is trying to right the ship after dropping four of its last six games. The game is being played in Phoenix, billed as part of the Hall of Fame Series. It's the first meeting between the storied ex-Pac-12 rivals since the conference's collapse last year and will be the first time the teams have met in a nonconference matchup since 1977. UCLA (8-1) is off to a surprisingly hot start after a nightmarish last season. The Bruins have won seven in a row after falling to New Mexico on Nov. 8. They're coming directly off a 73-71 victory over No. 12 Oregon on Sunday on a game-winning 3-pointer by Dylan Andrews with 0.3 seconds remaining. Eric Dailey Jr. led the way with 19 points on 7-of-8 shooting. The Bruins sit at 2-0 in conference play in their first season as a member of the Big Ten. "My analysis early of the Big Ten is that it's so deep," UCLA coach Mick Cronin said. "I know it probably always was that way, but now it's deeper. You've just got to get better. "I also coach at UCLA where we get the most titles and (have been to) the second-most finals. I didn't come to UCLA to win regular-season games. For us, it's about progression and getting better. "We were able to win (against Oregon) but I thought we got a lot better. We came together. We got more cohesive. The guys played with confidence." Tyler Bilodeau leads UCLA in scoring and rebounding, averaging 13.3 points and 5.9 rebounds per game. Bilodeau played his first two collegiate seasons at Oregon State, although his maiden voyage at UCLA is only his second season as a regular starter. Dailey, a transfer from Oklahoma State, doesn't trail too far behind in either category, averaging 12.3 points and 5.2 rebounds per game. USC transfer Kobe Johnson leads the Bruins with 3.2 assists while also tallying 7.3 points and 5.1 rebounds per game. The Wildcats (4-4) are in the midst of a dreadful start, needing a 102-66 win over Southern Utah to nurse themselves back to .500. Before that, Arizona was just one for its last five. The Wildcats are winless against fellow power-conference opponents, suffering double-digit losses to Wisconsin and Duke. Arizona also absorbed a five-point loss to Oklahoma and a seven-point overtime loss to West Virginia at the Battle 4 Atlantis. "Great programs are going to stumble once in a while," Arizona coach Tommy Lloyd said. "The response is the key. Learning from it and coming back stronger is the objective and that's the challenge. We obviously have been challenged early in the season. "(The emphasis needs to be on) Arizona basketball, because here's the deal: UCLA is a good program. If we go in and all we're worried about is UCLA and we assume that we're going to show up and play well, we're going to get our ass kicked." The Wildcats are led by Caleb Love, who returned for a second season at Arizona and a fifth in college overall after he played his first three seasons at North Carolina. Love is averaging 14.1 points per game on 37.2 percent shooting, down from 18 points per game a season ago. Aside from Love, Arizona has four more players averaging in double figures for the season: Jaden Bradley (12.0 ppg), Trey Townsend (11.3), KJ Lewis (10.3) and Anthony Dell'Orso (10.0). --Field Level Media
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City at least avoided a sixth consecutive defeat but the manner in which they blew a commanding advantage will do little to settle nerves in and around the club ahead of Sunday’s trip to Premier League leaders Liverpool. City appeared in total control after a brace from Erling Haaland and another from Ilkay Gundogan had them three up seven minutes into the second half, but after Anis Hadj Moussa got one back in the 75th minute, City imploded. “It is what it is, difficult to swallow right now,” Guardiola said. “The game was good, we played well, we scored three and could have scored more. We do everything and then we give away, especially the first one, and after we are not stable enough to do it. “It’s not about no run or no commitment, but football you have to be [switched on] in certain moments to do it.” Santiago Gimenez got Feyenoord’s second in the 82nd minute and David Hancko got a dramatic equaliser in the 89th, making City the first team in Champions League history to have led 3-0 in the 75th minute of a match and fail to win. Some City fans, who suffered through Saturday’s 4-0 humiliation at home to Tottenham, made their frustrations known at the final whistle. “The last game against Tottenham, 0-4, the supporters were there, applause,” he said. “They are disappointed of course and we understand it. “People come here not to remember success of the past, they come here to see the team win and perform well. I am not the one when the situation is bad or good [to say] what they have to do. “These supporters, when we go away, our fans are amazing, travelling. There is nothing to do and they are right to express what they feel.” Guardiola’s own frustrations were apparent given the number of scratches visible on his head after the match. The Catalan had arrived at the ground with a cut on his nose, which he said he had caused himself with a long fingernail. City now face a trip to Anfield to face the Liverpool side of former Feyenoord boss Arne Slot, whose named was chanted by the visiting fans during the match. “Everybody knows the situation, I don’t have to add absolutely anything,” Guardiola said. “We are going to train tomorrow, recovery and prepare the next game. Day off and we have two or three days to prepare that and go for it. We will learn for the future and what has been has been. “It will be a tough season for us and we have to accept it for many circumstances.” Feyenoord’s late fightback brought jubilant scenes in the away end. “I think if you’re from Feyenoord it was an unbelievable evening,” head coach Brian Priske said. “A strange game which ends 3-3 which is an unbelievable result for us and also remarkable in the essence of being 3-0 down in minute 75 away from home against still, for me, the best team in the world. “Normally we don’t celebrate draws but this one is a little bit special.”
Ilona Maher and Alan Bersten have emotional reunion as fans say ‘don’t separate' themA ceasefire deal that could end more than a year of cross-border fighting between Israel and Lebanon’s Hezbollah militant group won backing from Israeli leaders Tuesday, raising hopes and renewing difficult questions in a region gripped by conflict. Hezbollah leaders also signaled tentative backing for the U.S.-brokered deal, which offers both sides an off-ramp from hostilities that have driven more than 1.2 million Lebanese and 50,000 Israelis from their homes. An intense bombing campaign by Israel has killed more than 3,700 people, many of them civilians, Lebanese officials say. But while the deal, set to take effect early Wednesday, could significantly calm the tensions that have inflamed the region, it does little directly to resolve the much deadlier war that has raged in Gaza since the Hamas attack on southern Israel in October 2023 that killed 1,200 people. Hezbollah, which began firing scores of rockets into Israel the following day in support of Hamas, has previously said it would keep fighting until there was a stop to the fighting in Gaza. Here’s what to know about the tentative ceasefire agreement and its potential implications: The agreement reportedly calls for a 60-day halt in fighting that would see Israeli troops retreat to their side of the border while requiring Hezbollah to end its armed presence in a broad swath of southern Lebanon. President Joe Biden said Tuesday that the deal is set to take effect at 4 a.m. local time on Wednesday (9 p.m. EST Tuesday). Under the deal, thousands of Lebanese troops and U.N. peacekeepers are to deploy to the region south of the Litani River. An international panel lead by the U.S. would monitor compliance by all sides. Biden said the deal “was designed to be a permanent cessation of hostilities.” Israel has demanded the right to act should Hezbollah violate its obligations. Lebanese officials have rejected writing that into the proposal. Israel’s Defense Minister Israel Katz insisted Tuesday that the military would strike Hezbollah if the U.N. peacekeeping force, known as UNIFIL , does not provide “effective enforcement” of the deal. A Hezbollah leader said the group’s support for the deal hinged on clarity that Israel would not renew its attacks. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Qatari satellite news network Al Jazeera. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state” of Lebanon, he said. The European Union’s top diplomat, Josep Borrell, said Tuesday that Israel’s security concerns had been addressed in the deal also brokered by France. After months of cross-border bombings, Israel can claim major victories, including the killing of Hezbollah’s top leader, Hassan Nasrallah, most of his senior commanders and the destruction of extensive militant infrastructure. A complex attack in September involving the explosion of hundreds of walkie-talkies and pagers used by Hezbollah was widely attributed to Israel, signaling a remarkable penetration of the militant group. The damage inflicted on Hezbollah has come not only in its ranks, but to the reputation it built by fighting Israel to a stalemate in the 2006 war. Still, its fighters managed to put up heavy resistance on the ground, slowing Israel’s advance while continuing to fire scores of rockets, missiles and drones across the border each day. The ceasefire offers relief to both sides, giving Israel’s overstretched army a break and allowing Hezbollah leaders to tout the group’s effectiveness in holding their ground despite Israel’s massive advantage in weaponry. But the group is likely to face a reckoning, with many Lebanese accusing it of tying their country’s fate to Gaza’s at the service of key ally Iran, inflicting great damage on a Lebanese economy that was already in grave condition. Until now, Hezbollah has insisted that it would only halt its attacks on Israel when it agreed to stop fighting in Gaza. Some in the region are likely to view a deal between the Lebanon-based group and Israel as a capitulation. In Gaza, where officials say the war has killed more than 44,000 Palestinians, Israel’s attacks have inflicted a heavy toll on Hamas, including the killing of the group’s top leaders. But Hamas fighters continue to hold scores of Israeli hostages, giving the militant group a bargaining chip if indirect ceasefire negotiations resume. Hamas is likely to continue to demand a lasting truce and a full Israeli withdrawal from Gaza in any such deal. Palestinian Authority President Mahmoud Abbas offered a pointed reminder Tuesday of the intractability of the war, demanding urgent international intervention. “The only way to halt the dangerous escalation we are witnessing in the region, and maintain regional and international stability, security and peace, is to resolve the question of Palestine,” he said in a speech to the U.N. read by his ambassador.
South Dakota Sen. Mike Rounds, who introduced legislation last month to eliminate the Department of Education, told ABC News closing the agency could take "a couple of years." "We want to do it right," Rounds said, making it unlikely the department will see major changes on Day 1 of the next administration. "This is not just a 'make noise' bill. This is a serious [bill]. It's taken us a year and a half to write this bill." Rounds' "Returning Education to Our States" bill builds on one of President-elect Donald Trump's key campaign promises. It has a road map to elimination, sending block grants to states and redistributing major federal funding to other agencies, but it needs 60 votes in the Senate to pass and then be signed into law. "We've tried to set this up so that some of it could be done within reconciliation. Some of it we'll have to gain consensus on by executive order, some of which may very well take 60 votes. So we might not get everything we want," Rounds acknowledged. Rounds said he has not met with or discussed the bill with Linda McMahon, Trump's education secretary pick . Meanwhile, Rounds insisted that federal programs affecting vulnerable students and those with special needs will not be gutted. MORE: Congressional Republicans continue to introduce bills eliminating the Department of Education "We don't want to lose the specific offices that deliver particular congressionally directed funds, such as special education, IDEA and so forth," said Rounds, referencing the Individuals with Disabilities Education Act. "All of that is included in a redirection to other locations, but all those offices still remain with the focus of sending that money back [to the states]." Earlier this week, Alabama Sen. Tommy Tuberville, a member of the Senate's Health, Education, Labor and Pensions Committee, told ABC News that reaching a 60-vote threshold to pass legislation that dismantles the agency would be "very difficult." "We need to downsize it," Tuberville said. "More money needs to go back to the states, every state, and you know, we can have a group up here that can -- they can supposedly be the Department of Education, but to have [4,000] or 5,000 people up here makes no sense. I mean, we need to take as much money as we can, put it back in the states, put it back in the schools and give these students a chance." Augustus Mays, vice president for partnerships and engagement at the advocacy group The Education Trust, said block grants could disproportionately affect marginalized students. "If you were to take away, or block grant, the funding that goes towards IDEA, then you will have a situation where students with disabilities may not be getting the support they need towards a free and appropriate public education, which is required by law," Mays told ABC News. "That could be $34 billion from the federal government that would be going out to all these states to support those needs, and states would be picking up that bill. ... [Lawmakers] need to understand what that would actually mean if they were to eliminate Department of Ed," he warned. However, if the president-elect and his Cabinet picks start firing federal employees, education experts suggest it would be too tall a task for a diminished department to administer Education Department funds to states and have states distribute them to school districts. Clare McCann at American University said that is something skilled employees at the Department of Education would be equipped to do. "There's a reason the Department of Education was created, and it was to have this kind of in-house expertise and policy background on these [education] issues," McCann told ABC News. "The civil servants who work at the Department of Education are true experts in the field." North Carolina Sen. Ted Budd, a Republican, said he disagreed with McCann's stance. "The goal is more education, right?" he said. "And do you need a massive government bureaucracy to do that? Probably not." Kentucky Rep. Thomas Massie told ABC News he will also be bringing forward legislation to abolish the Department of Education within the "first few weeks" of the 119th Congress. "There'll be one sentence -- only thing that will change is the date: The Department of Education shall terminate on December 31, 2026," Massie told ABC News. However, experts have told ABC News that Massie's one-sentence bill may not be realistic as all the funding that currently goes to the department will have to be redirected. "The Department of Education administers a whole lot of laws," said Neal McCluskey, an education analyst at the libertarian think tank The Cato Institute. "Those laws have to be changed about who runs student aid and who is tasked with making decisions about cancelling student debt and who decides or who administers Title I and lots of these other federal programs."FLAGSTAR FINANCIAL, INC. NAMES LEE SMITH AS CHIEF FINANCIAL OFFICERNokia Corporation: Repurchase of own shares on 21.11.2024
The widow of murder victim Chaimet Sitsanitphong, who had been eyed by Pheu Thai to run in Prachin Buri's Provincial Administrative Organisation (PAO) election, now wants to pull out of the race following her husband's death, according to former prime minister Thaksin Shinawatra. Chaimet, 48, a former provincial council member widely known as "Sor Jor Tong", was found dead with several gunshot wounds on Wednesday at the house of Soonthorn Vilawan, the 85-year-old president of the Prachin Buri PAO. Mr Soonthorn was arrested along with six aides in connection with the shooting, which was believed to be linked to a political dispute. A 9mm pistol and a shotgun were seized at the scene. According to Thaksin, the victim had wanted his wife, Napapat Anchasanichamon, to run in the PAO chief election under the Pheu Thai Party's banner and the party had agreed to support her. Thaksin said the party would now have to find a new candidate after Ms Napapat expressed her desire to withdraw, likely out of fear of further violence. He called on police to curb violence linked to influential figures in the province, adding that Prime Minister Paetongtarn Shinawatra was considering setting up a task force to stamp out such influence. "She is thinking about forming one and will oversee it herself," Thaksin said. According to local political sources, Chaimet, a Thai boxing promoter, was considered the right-hand man of Mr Soonthorn, whose family has dominated Prachin Buri politics for decades. Assistant police chief Pol Lt Gen Akkaradech Pimolsri, who was assigned to oversee the case, said police have gathered forensic evidence. He said that initial questioning revealed the victim, who was unarmed, entered the house alone while his aides waited outside. Although no security camera footage was available, other pieces of evidence could be used to substantiate the charges, he added. The seven suspects were initially charged with colluding in murder and violating the weapons law. The police have asked the court to issue a detention order and oppose bail because the suspects could interfere with the investigation. The sources said that two of the suspects admitted to shooting Chaimet following a heated argument.Rogers Provides Update on Its Acquisition of Bell’s 37.5% Stake in MLSE
DAYTONA BEACH, Fla. (AP) — Ian Schieffelin had 18 points, 13 rebounds and eight assists in leading Clemson to a 75-67 win over Penn State on Tuesday and the championship of the Sunshine Slam Beach Division. Chase Hunter added 17 points, Chauncey Wiggins 14 and Del Jones 10 for the Tigers (6-1), who shot 44% and made 9 of 19 3-pointers led by Hunter's three. Ace Baldwin Jr. scored 20 points and had 11 assists, Yanic Konan Niederhauser added 14 points and Nick Kern Jr. 11 for the Nittany Lions (6-1), who shot 46% and were just 4 of 18 from the arc. Neither team had a double-digit lead in the game and it was tied with seven minutes to go. But Penn State had a six-minute drought without a field goal while committing three turnovers and the Tigers went up by six. A hook shot from Schieffelin with a minute to go made it a five-point lead and free throws sealed it from there. The eight-point final margin was the largest of the game. Konan Niederhauser's dunk to open the second half tied the game but a Hunter 3-pointer gave the lead back to Clemson. Penn State took its first lead of the second half on a 9-0 run, seven coming from Baldwin, to go up 57-54 with midway through the period. Penn State had its largest lead of seven in the first half but three consecutive 3s put Clemson ahead with three minutes to go and the Tigers led at 38-36 at halftime. Clemson had a 16-9 edge on points off turnovers. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketballNoneLea en español For many people, this time of year is all about the shopping. And there's a fair chance many feel less than joyful about the prospect. If fulfilling your lengthy list feels overwhelming, learning what brain science and evolutionary psychology say about shopping and gift-giving might help you understand exactly why you're stressed – and even point you toward a healthier, happier holiday season. Our reactions are encoded into our nervous system, said Dr. Beth Frates, a part-time associate professor in the department of physical medicine and rehabilitation at Harvard Medical School in Boston. "By understanding these brain responses, people can develop strategies to manage stress better, such as setting realistic expectations, focusing on mindfulness and simplifying holiday preparations," said Frates, who also is the immediate past president of the American College of Lifestyle Medicine. The idea of exchanging gifts at this time of year can be traced back to pagan solstice celebrations. But the drive to share with another is as old as humanity itself, said Dr. Diego Guevara Beltran, a postdoctoral fellow in psychology at the University of Arizona in Tucson who studies cooperation and generosity. The science of generosity is more about survival than stocking stuffers, Guevara Beltran said. Sharing food gave early humans an evolutionary advantage. "Generosity is just one of the ways by which we can accumulate resources, be it wealth itself or friendships or work partners or more attractive, more intelligent mates," he said. Sharing with other people, Guevara Beltran said, is "a signal that communicates how much you value them, their welfare, your relationship with them." Research has shown that helping people makes us feel good. Part of that, he said, is because when someone is part of a community, they feel protected. One way this manifests is through the act of giving gifts. But to derive happiness from gift-giving, the giver needs to feel both that it was not an obligation and that it was effective, according to the 2019 World Happiness Report . That means it could be stressful to be in a culture where gift-giving feels mandatory, or if we can't see that a gift helped someone, Guevara Beltran speculated. It also might be stressful if gift-giving becomes a competition to show that you care about somebody more than the others around them. Our brains on shopping Stressful shopping can cause several physiological responses to kick in, Frates said. First is the "fight or flight" reaction that comes with stress. The release of chemicals that increase our heart rate, raise our blood pressure and intensify our breathing evolved to give us bursts of energy to escape danger. Frates said that while holiday stressors are not life-threatening, they can still trigger the stress response. The pressure to stay within budget could create a sense of scarcity, she said. "This taps into an evolutionary response, where the fear of losing resources like money can feel urgent and distressing." The holiday season also involves a lot of choices. "The brain has limited capacity for decision-making, and making multiple decisions can lead to decision fatigue," Frates said. "This fatigue reduces the ability to self-regulate and cope, which can lead to heightened stress responses when confronted with even minor setbacks, like a long line or out-of-stock item." The stress of needing to complete tasks within a limited time can intensify the fight-or-flight response, she said, as the brain interprets the ticking clock as a sense of urgency or threat. Meanwhile, Frates said, holiday shopping can also trigger brain chemicals that affect our feelings. "Dopamine, a neurotransmitter associated with pleasure and reward, is released when we anticipate something exciting or enjoyable, like finding a great gift or finding a good deal," she said. "This anticipation can feel rewarding even before any actual purchase is made." For some people, this dopamine boost can make shopping a relaxing experience. "It provides a temporary distraction from other stressors and allows them to focus on something positive, creating a 'holiday high,'" Frates said. For some people, that can be problematic. "When shopping becomes a way to chase that next dopamine hit, it can lead to excessive spending or impulsive purchases," she said. "This can become a trap, particularly during the holidays, when deals, sales and gift-giving pressures are everywhere." Understanding how all these processes work can help people recognize why they feel the way they do and adopt strategies to cope, Frates said. Here are some of her suggestions. 1. Start with self-care before shopping Prioritizing self-care means people can be their best selves and make good decisions, Frates said. So, "eat food that is delicious and nutritious. Get seven to nine hours of sleep. Make sure to enjoy physical activity. Take walks when you can and invite friends along. Practice stress reduction like meditation or yoga to help you calm your body and mind." Before going shopping, try taking deep breaths using stress-relieving techniques such as 4-7-8 breathing (inhale through your nose for four counts, hold for seven counts, and exhale through your mouth for eight) or box breathing (inhale through the nose for four counts, hold your breath for four, exhale for four, then hold for four). 2. Be strategic Don't shop when you're hungry, tired, lonely or stressed, Frates said. And don't start shopping 15 minutes before a store closes or a website's online deals end, she said. That's setting yourself up for triggering the fight-or-flight response. 3. Be mindful Before making a purchase, take a moment to consider whether it's truly needed or whether it's an impulsive choice. To avoid overindulging, set a specific budget or limit yourself to a couple of hours or specific shopping days. "This keeps dopamine-driven spending in check while still allowing for the enjoyable aspects of holiday shopping," Frates said. Look for post-shopping activities that provide rewards without the financial cost. That can satisfy your brain's desire for more dopamine in a healthier way. "Plan enjoyable, stress-relieving activities after shopping, like going for a walk, spending time with friends or indulging in a hobby," she said. 4. Bring a friend Not only does this support healthy social connections, Frates said, but if things start feeling stressful, "you have a buddy, and you have a support system right there for you." 5. Rethink the focus of the season "With gift-giving, we need to change mindsets in order to be able to manage the stress," Frates said. The holidays could be used to emphasize social connections, she said. "Thinking about the connection with the person and making gift-giving more about deepening the connection than anything else, I think, will really help to reduce the stress around the process," she said. So instead of scouring shops and websites for the "perfect" gift, think about making a meaningful and personal one, she suggested. It could be a poem, a painting, a song or a framed photograph that captured a special time. 6. Lessons for children It's easy to get caught up in the hunt for a hard-to-get item, Frates said. But ask yourself what the holiday means in your family's traditions. "Is it about getting that perfect gift for the child? Or is it about celebrating the meaning of that holiday?" So instead of having children ask for one specific toy, or a specific brand of clothing, teach them to leave a little leeway on their lists. "It is a good reminder to express to children that this season is about giving and sharing what we can in the best way that we can," she said, "and sometimes the exact gift is not available." Encouraging such an attitude can be a tall order, Frates said, but it's a place to start. "A simple mindset shift could be the difference between a stressful holiday shopping season or a joyful journey to find meaningful gifts for people you care about." American Heart Association News covers heart and brain health. Not all views expressed in this story reflect the official position of the American Heart Association. Copyright is owned or held by the American Heart Association, Inc., and all rights are reserved. Sign up here to get the latest health & fitness updates in your inbox every week!
, /PRNewswire/ -- Loc Performance ("Loc") is pleased to announce significant capital investments at its facility, following recently won defense contracts for missile system structures. These pivotal contracts position Loc as a key supplier for several missile programs that are expected to be in production for multiple years going forward. The manufacturing of missile structures began low-rate initial production at plant in 2024, with expansion planned at Loc's plant in 2025. This strategic move not only enhances our operational capabilities but also strengthens our competitive edge in the market. "As we continue to elevate our skills and technology, we see an exciting opportunity for growth in both Loc's commercial and defense sectors," said , Director of Business Development, Loc Performance. "Missile structures represent a key area for expansion within our defense market strategy." To meet the demands for these large-scale missile structures, Loc is actively investing in high-precision 4-axis and 5-axis CNC Machining Centers, with two new machines already installed and operational. Additionally, Loc is enhancing its manufacturing support by installing large-capacity and highly accurate coordinate measuring machines, ensuring the highest standards of quality and precision. These developments will create new job opportunities for skilled CNC multi-axis machinists at both Loc's and locations. Additionally, Loc plans to expand its skilled manufacturing and quality engineering teams to support this growth. Loc Performance is committed to advancing its capabilities and contributing to the defense industry, reinforcing its position as a leader in innovative manufacturing solutions. Loc Performance, headquartered in , provides track systems, mechanical systems, armor products, fabricated structures, and rubberized products for military, agricultural, and construction applications. With proven capabilities in product design and development through production, Loc offers comprehensive solutions and exceptional customer service to produce the highest quality products at competitive pricing. Loc has over 1,750,000 square feet of manufacturing space with facilities in , , and , and with more than 1000 total employees. Learn more at . View original content to download multimedia: SOURCE Loc Performance Products
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Middle East latest: Israeli strikes kill a hospital director in Lebanon and wound 6 medics in GazaHICKSVILLE, N.Y. , Dec. 13, 2024 /PRNewswire/ -- Flagstar Financial, Inc. (NYSE: FLG) ( the "Company"), today announced the appointment of Lee Smith as Senior Executive Vice President and Chief Financial Officer (CFO), effective December 27, 2024 . The appointment follows the decision of current CFO Craig Gifford to step down to reengage in personal endeavors outside of the banking industry. Gifford will remain with the Bank through March 31, 2025 , and work closely with Smith during the transition period, ensuring a seamless hand-over and continued support for the Bank's ongoing initiatives. "For more than a decade, Lee has been an instrumental member of Flagstar's executive team. He is a proven leader with a strong track record, has the requisite experience and expertise, and possesses deep knowledge of the Company. The Board of Directors and I have full faith and confidence in Lee to continue to help guide the Company in this financial leadership position," said Joseph M. Otting , Chairman, President, and CEO. Smith joined legacy Flagstar Bancorp, Inc. in 2013 as Chief Operating Officer and his transition to CFO comes after serving on Flagstar's executive management team for more than a decade, most recently as President of Mortgage. He has an extensive background in accounting, finance, mortgage, private equity, and operations, spanning more than 25 years. His experience in managing large-scale transactions, optimizing financials and operations, and working with regulators demonstrates a strong ability to drive financial performance, ensure compliance, and lead financial operations. Additionally, his leadership in M&A deals, capital markets, and financial management positions him well to oversee financial strategies, risk mitigation, and operational efficiency at a senior financial level. His prior roles include Partner at Matlin Patterson Global Advisers LLC, a private investment firm. He is also a member of the Institute of Chartered Accountants in England and Wales (ICAEW) since 1998 and has a BSc in Economics and Accountancy from Loughborough University in England . Otting added, "I want to express our sincere appreciation to Craig for his impactful contributions over the past year. His leadership during this time has been invaluable, and we wish him all the best. As all of our stakeholders know, we have been working relentlessly to elevate Flagstar to new heights. I also recognize the personal sacrifices and time commitment required away from our personal lives for this journey. Given the substantial progress we've made as a Company, I am comfortable that this is a good time for this transition, and I am confident the momentum we've gained will only strengthen as we move forward." About Flagstar Financial, Inc. Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York . At September 30, 2024, the Company had $114.4 billion of assets, $73.0 billion of loans, deposits of $83 .0 billion, and total stockholders' equity of $8 .6 billion. Flagstar Bank, N.A. operates over 400 branches, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and West Coast. In addition, the Bank has approximately 80 private banking teams located in over 10 cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net worth individuals and their businesses. Cautionary Statements Regarding Forward-Looking Statements This release may include forward‐looking statements by the Company and our authorized officers pertaining to such matters as our goals, beliefs, intentions, and expectations regarding (a) revenues, earnings, loan production, asset quality, liquidity position, capital levels, risk analysis, divestitures, acquisitions, and other material transactions, among other matters; (b) the future costs and benefits of the actions we may take; (c) our assessments of credit risk and probable losses on loans and associated allowances and reserves; (d) our assessments of interest rate and other market risks; (e) our ability to execute on our strategic plan, including the sufficiency of our internal resources, procedures and systems; (f) our ability to attract, incentivize, and retain key personnel and the roles of key personnel; (g) our ability to achieve our financial and other strategic goals, including those related to our merger with Flagstar Bancorp, Inc., which was completed on December 1, 2022, our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction, and our ability to fully and timely implement the risk management programs institutions greater than $100 billion in assets must maintain; (h) the effect on our capital ratios of the approval of certain proposals approved by our shareholders during our 2024 annual meeting of shareholders; (i) the conversion or exchange of shares of the Company's preferred stock; (j) the payment of dividends on shares of the Company's capital stock, including adjustments to the amount of dividends payable on shares of the Company's preferred stock; (k) the availability of equity and dilution of existing equity holders associated with amendments to the 2020 Omnibus Incentive Plan; (l) the effects of the reverse stock split; and (m) transactions relating to the sale of our mortgage business and mortgage warehouse business. Forward‐looking statements are typically identified by such words as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "should," "confident," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Additionally, forward‐looking statements speak only as of the date they are made; the Company does not assume any duty, and does not undertake, to update our forward‐looking statements. Furthermore, because forward‐looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in our statements, and our future performance could differ materially from our historical results. Our forward‐looking statements are subject to, among others, the following principal risks and uncertainties: general economic conditions and trends, either nationally or locally; conditions in the securities, credit and financial markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of our loan or investment portfolios, including associated allowances and reserves; changes in future allowance for credit losses, including changes required under relevant accounting and regulatory requirements; the ability to pay future dividends; changes in our capital management and balance sheet strategies and our ability to successfully implement such strategies; recent turnover in our Board of Directors and our executive management team; changes in our strategic plan, including changes in our internal resources, procedures and systems, and our ability to successfully implement such plan; changes in competitive pressures among financial institutions or from non‐financial institutions; changes in legislation, regulations, and policies; the imposition of restrictions on our operations by bank regulators; the outcome of pending or threatened litigation, or of investigations or any other matters before regulatory agencies, whether currently existing or commencing in the future; the success of our blockchain and fintech activities, investments and strategic partnerships; the restructuring of our mortgage business; our ability to recognize anticipated expense reductions and enhanced efficiencies with respect to our recently announced strategic workforce reduction; the impact of failures or disruptions in or breaches of the Company's operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; the impact of natural disasters, extreme weather events, military conflict (including the Russia / Ukraine conflict, the conflict in Israel and surrounding areas, the possible expansion of such conflicts and potential geopolitical consequences), terrorism or other geopolitical events; and a variety of other matters which, by their nature, are subject to significant uncertainties and/or are beyond our control. Our forward-looking statements are also subject to the following principal risks and uncertainties with respect to our merger with Flagstar Bancorp, which was completed on December 1, 2022 , and our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction: the possibility that the anticipated benefits of the transactions will not be realized when expected or at all; the possibility of increased legal and compliance costs, including with respect to any litigation or regulatory actions related to the business practices of acquired companies or the combined business; diversion of management's attention from ongoing business operations and opportunities; the possibility that the Company may be unable to achieve expected synergies and operating efficiencies in or as a result of the transactions within the expected timeframes or at all; and revenues following the transactions may be lower than expected. Additionally, there can be no assurance that the Community Benefits Agreement entered into with NCRC, which was contingent upon the closing of the Company's merger with Flagstar Bancorp, Inc., will achieve the results or outcome originally expected or anticipated by us as a result of changes to our business strategy, performance of the U.S. economy, or changes to the laws and regulations affecting us, our customers, communities we serve, and the U.S. economy (including, but not limited to, tax laws and regulations). More information regarding some of these factors is provided in the Risk Factors section of our Annual Report on Form 10 ‐ K/A for the year ended December 31, 2023, Quarterly Report on Forms 10-Q for the quarters ended March 31, 2024 , June 30, 2024 , and September 30, 2024 , and in other SEC reports we file. Our forward ‐ looking statements may also be subject to other risks and uncertainties, including those we may discuss in this news release, on our conference call, during investor presentations, or in our SEC filings, which are accessible on our website and at the SEC's website, www.sec.gov . Investor Contact: Salvatore J. DiMartino (516) 683-4286 Media Contact: Steven Bodakowski (248) 312-5872 View original content to download multimedia: https://www.prnewswire.com/news-releases/flagstar-financial-inc-names-lee-smith-as-chief-financial-officer-302331680.html SOURCE Flagstar Financial, Inc.Hallmark Fave Andrew Walker Goes Inside His Skincare Line and Shares Holiday Plans (VIDEO)
Disconnected Munster pay the price against Castres in scrappy defeatPLYMOUTH, Mich. , Nov. 26, 2024 /PRNewswire/ -- Loc Performance ("Loc") is pleased to announce significant capital investments at its Lapeer, Michigan facility, following recently won defense contracts for missile system structures. These pivotal contracts position Loc as a key supplier for several missile programs that are expected to be in production for multiple years going forward. The manufacturing of missile structures began low-rate initial production at Lapeer's plant in 2024, with expansion planned at Loc's Lansing plant in 2025. This strategic move not only enhances our operational capabilities but also strengthens our competitive edge in the market. "As we continue to elevate our skills and technology, we see an exciting opportunity for growth in both Loc's commercial and defense sectors," said Wayne Dula , Director of Business Development, Loc Performance. "Missile structures represent a key area for expansion within our defense market strategy." To meet the demands for these large-scale missile structures, Loc is actively investing in high-precision 4-axis and 5-axis CNC Machining Centers, with two new machines already installed and operational. Additionally, Loc is enhancing its manufacturing support by installing large-capacity and highly accurate coordinate measuring machines, ensuring the highest standards of quality and precision. These developments will create new job opportunities for skilled CNC multi-axis machinists at both Loc's Lansing and Lapeer locations. Additionally, Loc plans to expand its skilled manufacturing and quality engineering teams to support this growth. Loc Performance is committed to advancing its capabilities and contributing to the defense industry, reinforcing its position as a leader in innovative manufacturing solutions. About Loc Performance Loc Performance, headquartered in Plymouth, MI , provides track systems, mechanical systems, armor products, fabricated structures, and rubberized products for military, agricultural, and construction applications. With proven capabilities in product design and development through production, Loc offers comprehensive solutions and exceptional customer service to produce the highest quality products at competitive pricing. Loc has over 1,750,000 square feet of manufacturing space with facilities in Plymouth , Lansing , and Lapeer, Michigan , and St. Marys, Ohio with more than 1000 total employees. Learn more at www.locperformance.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/loc-performance-announces-major-capital-investments-to-support-defense-contracts-302316856.html SOURCE Loc Performance ProductsBaku: Countries agreed on Sunday to an annual finance target of $460 billion to help poorer countries deal with the impacts of climate change, with rich countries leading the payments, according to a hard fought deal clinched at the COP29 conference in Baku. The new goal is intended to replace developed countries’ previous commitment to provide $150 billion per year in climate finance for poorer nations by 2020. That goal was met two years late, in 2022, and expires in 2025. Activists participate in a demonstration for climate finance at the COP29 UN Climate Summit. Credit: AP Countries also agreed on rules for a global market to buy and sell carbon credits that proponents say could mobilise billions more dollars into new projects to help fight global warming, from reforestation to deployment of clean energy technologies. On Saturday, negotiators went from one big room where everyone tried to hash out a deal together into several separate huddles of upset nations. More to come Reuters
William Blair reiterated their outperform rating on shares of nCino ( NASDAQ:NCNO – Free Report ) in a research note published on Thursday, RTT News reports. NCNO has been the topic of several other reports. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 price target on shares of nCino in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of nCino in a report on Wednesday, August 28th. Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Robert W. Baird cut their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Stephens lifted their price target on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.38. Get Our Latest Report on nCino nCino Stock Performance Insider Activity at nCino In related news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the completion of the transaction, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink . Also, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the director now owns 226,201 shares of the company’s stock, valued at $8,482,537.50. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders sold 3,235,029 shares of company stock worth $117,599,204 over the last three months. Company insiders own 28.40% of the company’s stock. Institutional Inflows and Outflows Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its position in shares of nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the period. Malaga Cove Capital LLC raised its position in shares of nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after acquiring an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of nCino by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after acquiring an additional 508 shares during the period. Precision Wealth Strategies LLC raised its position in shares of nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after acquiring an additional 589 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of nCino in the second quarter worth about $26,000. 94.76% of the stock is currently owned by institutional investors and hedge funds. About nCino ( Get Free Report ) nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem. Read More Receive News & Ratings for nCino Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nCino and related companies with MarketBeat.com's FREE daily email newsletter .
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