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Darius Tahir | (TNS) KFF Health News President-elect Donald Trump’s choice to run the sprawling government agency that administers Medicare, Medicaid, and the Affordable Care Act marketplace — celebrity doctor Mehmet Oz — recently held broad investments in health care, tech, and food companies that would pose significant conflicts of interest. Oz’s holdings, some shared with family, included a stake in UnitedHealth Group worth as much as $600,000, as well as shares of pharmaceutical firms and tech companies with business in the health care sector, such as Amazon. Collectively, Oz’s investments total tens of millions of dollars, according to financial disclosures he filed during his failed 2022 run for a Pennsylvania U.S. Senate seat. Trump said Tuesday he would nominate Oz as administrator of the Centers for Medicare & Medicaid Services. The agency’s scope is huge: CMS oversees coverage for more than 160 million Americans, nearly half the population. Medicare alone accounts for approximately $1 trillion in annual spending, with over 67 million enrollees. UnitedHealth Group is one of the largest health care companies in the nation and arguably the most important business partner of CMS, through which it is the leading provider of commercial health plans available to Medicare beneficiaries. UnitedHealth also offers managed-care plans under Medicaid, the joint state-federal program for low-income people, and sells plans on government-run marketplaces set up via the Affordable Care Act. Oz also had smaller stakes in CVS Health, which now includes the insurer Aetna, and in the insurer Cigna. It’s not clear if Oz, a heart surgeon by training, still holds investments in health care companies, or if he would divest his shares or otherwise seek to mitigate conflicts of interest should he be confirmed by the Senate. Reached by phone on Wednesday, he said he was in a Zoom meeting and declined to comment. An assistant did not reply to an email message with detailed questions. “It’s obvious that over the years he’s cultivated an interest in the pharmaceutical industry and the insurance industry,” said Peter Lurie, president of the Center for Science in the Public Interest, a watchdog group. “That raises a question of whether he can be trusted to act on behalf of the American people.” (The publisher of KFF Health News, David Rousseau, is on the CSPI board .) Oz used his TikTok page on multiple occasions in November to praise Trump and Robert F. Kennedy Jr., including their efforts to take on the “illness-industrial complex,” and he slammed “so-called experts like the big medical societies” for dishing out what he called bad nutritional advice. Oz’s positions on health policy have been chameleonic; in 2010, he cut an ad urging Californians to sign up for insurance under President Barack Obama’s Affordable Care Act, telling viewers they had a “historic opportunity.” Oz’s 2022 financial disclosures show that the television star invested a substantial part of his wealth in health care and food firms. Were he confirmed to run CMS, his job would involve interacting with giants of the industry that have contributed to his wealth. Given the breadth of his investments, it would be difficult for Oz to recuse himself from matters affecting his assets, if he still holds them. “He could spend his time in a rocking chair” if that happened, Lurie said. In the past, nominees for government positions with similar potential conflicts of interest have chosen to sell the assets or otherwise divest themselves. For instance, Treasury Secretary Janet Yellen and Attorney General Merrick Garland agreed to divest their holdings in relevant, publicly traded companies when they joined the Biden administration. Trump, however, declined in his first term to relinquish control of his own companies and other assets while in office, and he isn’t expected to do so in his second term. He has not publicly indicated concern about his subordinates’ financial holdings. CMS’ main job is to administer Medicare. About half of new enrollees now choose Medicare Advantage, in which commercial insurers provide their health coverage, instead of the traditional, government-run program, according to an analysis from KFF, a health information nonprofit that includes KFF Health News. Proponents of Medicare Advantage say the private plans offer more compelling services than the government and better manage the costs of care. Critics note that Medicare Advantage plans have a long history of costing taxpayers more than the traditional program. UnitedHealth, CVS, and Cigna are all substantial players in the Medicare Advantage market. It’s not always a good relationship with the government. The Department of Justice filed a 2017 complaint against UnitedHealth alleging the company used false information to inflate charges to the government. The case is ongoing. Oz is an enthusiastic proponent of Medicare Advantage. In 2020, he proposed offering Medicare Advantage to all; during his Senate run, he offered a more general pledge to expand those plans. After Trump announced Oz’s nomination for CMS, Jeffrey Singer, a senior fellow at the libertarian-leaning Cato Institute, said he was “uncertain about Dr. Oz’s familiarity with health care financing and economics.” Singer said Oz’s Medicare Advantage proposal could require large new taxes — perhaps a 20% payroll tax — to implement. Oz has gotten a mixed reception from elsewhere in Washington. Pennsylvania Sen. John Fetterman, the Democrat who defeated Oz in 2022, signaled he’d potentially support his appointment to CMS. “If Dr. Oz is about protecting and preserving Medicare and Medicaid, I’m voting for the dude,” he said on the social platform X. Oz’s investments in companies doing business with the federal government don’t end with big insurers. He and his family also hold hospital stocks, according to his 2022 disclosure, as well as a stake in Amazon worth as much as nearly $2.4 million. (Candidates for federal office are required to disclose a broad range of values for their holdings, not a specific figure.) Amazon operates an internet pharmacy, and the company announced in June that its subscription service is available to Medicare enrollees. It also owns a primary care service , One Medical, that accepts Medicare and “select” Medicare Advantage plans. Oz was also directly invested in several large pharmaceutical companies and, through investments in venture capital funds, indirectly invested in other biotech and vaccine firms. Big Pharma has been a frequent target of criticism and sometimes conspiracy theories from Trump and his allies. Kennedy, whom Trump has said he’ll nominate to be Health and Human Services secretary, is a longtime anti-vaccine activist. During the Biden administration, Congress gave Medicare authority to negotiate with drug companies over their prices. CMS initially selected 10 drugs. Those drugs collectively accounted for $50.5 billion in spending between June 1, 2022, and May 31, 2023, under Medicare’s Part D prescription drug benefit. At least four of those 10 medications are manufactured by companies in which Oz held stock, worth as much as about $50,000. Related Articles Health | ‘Especially disgusting’: Former workers, patients, level accusations at California addiction treatment empire Health | Addicts came to Southern California from afar to get sober but wound up dead Health | California raw milk recalled after positive test for bird flu virus Health | More foods are making us sick: What to know as foodborne outbreaks hit Health | Which health insurance plan may be right for you? Oz may gain or lose financially from other Trump administration proposals. For example, as of 2022, Oz held investments worth as much as $6 million in fertility treatment providers. To counter fears that politicians who oppose abortion would ban in vitro fertilization, Trump floated during his campaign making in vitro fertilization treatment free. It’s unclear whether the government would pay for the services. In his TikTok videos from earlier in November, Oz echoed attacks on the food industry by Kennedy and other figures in his “Make America Healthy Again” movement. They blame processed foods and underregulation of the industry for the poor health of many Americans, concerns shared by many Democrats and more mainstream experts. But in 2022, Oz owned stakes worth as much as $80,000 in Domino’s Pizza, Pepsi, and US Foods, as well as more substantial investments in other parts of the food chain, including cattle; Oz reported investments worth as much as $5.5 million in a farm and livestock, as well as a stake in a dairy-free milk startup. He was also indirectly invested in the restaurant chain Epic Burger. One of his largest investments was in the Pennsylvania-based convenience store chain Wawa, which sells fast food and all manner of ultra-processed snacks. Oz and his wife reported a stake in the company, beloved by many Pennsylvanians, worth as much as $30 million. ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.
Man City give up three-goal lead in 3-3 draw with FeyenoordSANTA BARBARA, Calif. , Nov. 25, 2024 /PRNewswire/ -- Traccom Inc. (Pink Open Market Symbol: TRCC) is pleased to announce that on November 13, 2024 , it acquired all of the capital stock of Vulcain, Inc. ("Vulcain"). As a result of the acquisition, Vulcain has become a wholly owned and main operating subsidiary of Traccom effective immediately. Upon completion of the transaction on November 13, 2024 , Vulcain shareholders were issued 117,813,680 shares of common stock of Traccom in exchange for the acquisition of 100% of the capital stock of Vulcain. This represents 95% of the fully diluted shares of Traccom after the issuance thereof. With the transaction, Vulcain added three members to the Traccom board of directors, with Greg Duffell as CEO, President and CFO, Peter Stockmann as President of the Americas, and replaced Traccom's management. This marks a significant milestone for Vulcain. The company will broaden its market presence in the growing opportunity for Artificial Intelligence (AI) based data solutions. "Trading as a public entity on the Pink Open Market is an important step for Vulcain as we continue to evolve and expand our reach within the Causal AI and Knowledge Management sector," said Greg Duffell , CEO of Traccom. "This transaction will provide us with greater access to capital, enhance our visibility in the marketplace, and allow more investors to participate in our growth story." Becoming a publicly traded company will allow Vulcain to enhance their visibility. This reflects the company's commitment to increasing shareholder value and advancing its corporate growth strategy in Causal AI and Knowledge Management space. Former Traccom CEO and continuing Board member, Harry Steck stated, "For Traccom's shareholders, this transaction provides the opportunity to be invested in one of today's most exciting industries with an impressive technology and management team." Vulcain has commercialized casual AI solutions across various industries including leading US brands in the Consumer-Packaged Goods (CPG) sector to generate annual recurring revenues (ARR) for the company. Vulcain is planning a next phase of expansion into Insurance, Healthcare, Financial Services and other industries. Vulcain uses causal machine learning algorithms and human domain experts to provide high quality causal features necessary for an accurate AI solution. Vulcain's Causal AI Platform includes causal reasoning models to provide predictive outcomes that identify and explain event risks and opportunities for businesses. Vulcain will continue to focus on bringing human domain knowledge into AI solutions and driving value for organizations seeking to unleash the knowledge from their vast amounts of data, content and domain expertise. Key Highlights: Trading Symbol: TRCC Market Segment: Pink Open Market Sector: Technology, AI About Traccom, Inc. The company is at the intersection of human and artificial intelligence, leading the charge to AI 3.0 with high value feature solutions for business. Vulcain's Causal AI platform is used for harmonizing, testing, and validating data for extracting and commercializing knowledge. The Vulcain platform combines hundreds of millions of AI ready data sets and human domain knowledge to provide a ready to use solution that can be customized, scaled and adapted for customer use-cases and human intervention. With a commitment to human-AI, excellence, sustainability, and customer-centric solutions, the company believes that it is poised for long-term growth and success in the global AI marketplace. For more information about the company and its wholly owned subsidiary Vulcain, Inc., visit www.vulcain.ai . Forward-Looking Statements This press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties and factors. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company's other disclosures filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained. Contact: [email protected] SOURCE Traccom Inc
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Nov 25, 2024-- TriMas (NASDAQ: TRS) today announced the launch of its new, state-of-the-art, 225,000 square foot facility for its TriMas Packaging group in Haining, China. This milestone follows last year’s decision to rationalize two manufacturing facilities into one new facility. TriMas exited both its Hangzhou, China, and older Haining, China facilities, consolidating them into a single, new facility in Haining with advanced capabilities to better serve customers across China and the wider Asian markets. The highly automated facility is equipped with advanced injection molding and assembly capabilities, autonomous robots including Automated Guided Vehicles (AGVs), robotic auto palletizing and a specialized Warehouse Management System (WMS). These innovations streamline material handling processes, reduce labor expenses, minimize safety risks and support the Company’s sustainability goals through energy-efficient systems and waste reduction practices. Additionally, the facility features a cutting-edge quality lab, a 100,000-level clean room and QS certification, ensuring compliance with stringent food safety standards in China. “We are excited to introduce our new state-of-the-art facility in Haining, which reflects our commitment to operational excellence, innovation, sustainability and delivering high-quality packaging solutions for our customers,” said Thomas Amato, TriMas President and Chief Executive Officer. “With this addition, we are proud to now have advanced flagship locations in the United States, Mexico, and China, strategically positioning us for continued growth across these key regions. We extend our thanks to our TriMas Packaging team who contributed to the successful launch of this cutting-edge facility in Haining.” The Haining facility manufactures dispensing and airless lotion pumps, foaming pumps, caps and closures, primarily for the beauty and personal care markets. It also produces e-commerce lotion pumps to meet the growing demand in the online retail sector. View the video to see the new Haining facility : TriMas Packaging: Haining, China Facility About TriMas Packaging TriMas Packaging serves its global customers with its market-leading brands, consisting of Rieke ®, Affaba & FerrariTM, Rapak ®, TaplastTM, Plastic Srl and Aarts Packaging. TriMas Packaging designs and manufactures a comprehensive array of dispensing, closure and flexible packaging solutions for a broad range of end markets including the beauty and personal care, food and beverage, home care, pharmaceutical and nutraceutical, and industrial and agricultural markets. With approximately 2,200 dedicated employees and 26 locations worldwide, TriMas Packaging’s innovative solutions and services are designed to enhance customers’ ability to dispense, transport and store their products safely and securely in an ever-changing marketplace. For more information, please visit www.trimaspackaging.com . About TriMas TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,400 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol “TRS,” and is headquartered in Bloomfield Hills, Michigan. For more information, please visit www.trimas.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241125337341/en/ CONTACT: Sherry Lauderback VP, Investor Relations & Communications (248) 631-5506 sherry.lauderback@trimas.com KEYWORD: MICHIGAN CHINA UNITED STATES NORTH AMERICA ASIA PACIFIC INDUSTRY KEYWORD: MACHINERY PACKAGING ROBOTICS TECHNOLOGY ONLINE RETAIL COSMETICS MANUFACTURING RETAIL SOURCE: TriMas Copyright Business Wire 2024. PUB: 11/25/2024 01:00 PM/DISC: 11/25/2024 01:00 PM http://www.businesswire.com/news/home/20241125337341/en
By KAREEM CHEHAYEB BEIRUT (AP) — In 2006, after a bruising monthlong war between Israel and Lebanon’s powerful Hezbollah militant group, the United Nations Security Council unanimously voted for a resolution to end the conflict and pave the way for lasting security along the border. But while there was relative calm for nearly two decades, Resolution 1701’s terms were never fully enforced. Now, figuring out how to finally enforce it is key to a U.S.-brokered ceasefire deal approved by Israel on Tuesday. In late September, after nearly a year of low-level clashes , the conflict between Israel and Hezbollah spiraled into all-out war and an Israeli ground invasion . As Israeli jets pound deep inside Lebanon and Hezbollah fires rockets deeper into northern Israel, U.N. and diplomatic officials again turned to the 2006 resolution in a bid to end the conflict. Years of deeply divided politics and regionwide geopolitical hostilities have halted substantial progress on its implementation, yet the international community believes Resolution 1701 is still the brightest prospect for long-term stability between Israel and Lebanon. Almost two decades after the last war between Israel and Hezbollah, the United States led shuttle diplomacy efforts between Lebanon and Israel to agree on a ceasefire proposal that renewed commitment to the resolution, this time with an implementation plan to try to bring the document back to life. What is UNSC Resolution 1701? In 2000, Israel withdrew its forces from most of southern Lebanon along a U.N.-demarcated “Blue Line” that separated the two countries and the Israeli-annexed Golan Heights, which most of the world considers occupied Syrian territory. U.N. peacekeeping forces in Lebanon, known as UNIFIL , increased their presence along the line of withdrawal. Resolution 1701 was supposed to complete Israel’s withdrawal from southern Lebanon and ensure Hezbollah would move north of the Litani River, keeping the area exclusively under the Lebanese military and U.N. peacekeepers. Up to 15,000 U.N. peacekeepers would help to maintain calm, return displaced Lebanese and secure the area alongside the Lebanese military. The goal was long-term security, with land borders eventually demarcated to resolve territorial disputes. The resolution also reaffirmed previous ones that call for the disarmament of all armed groups in Lebanon — Hezbollah among them. “It was made for a certain situation and context,” Elias Hanna, a retired Lebanese army general, told The Associated Press. “But as time goes on, the essence of the resolution begins to hollow.” Has Resolution 1701 been implemented? For years, Lebanon and Israel blamed each other for countless violations along the tense frontier. Israel said Hezbollah’s elite Radwan Force and growing arsenal remained, and accused the group of using a local environmental organization to spy on troops. Lebanon complained about Israeli military jets and naval ships entering Lebanese territory even when there was no active conflict. “You had a role of the UNIFIL that slowly eroded like any other peacekeeping with time that has no clear mandate,” said Joseph Bahout, the director of the Issam Fares Institute for Public Policy at the American University of Beirut. “They don’t have permission to inspect the area without coordinating with the Lebanese army.” UNIFIL for years has urged Israel to withdraw from some territory north of the frontier, but to no avail. In the ongoing war, the peacekeeping mission has accused Israel, as well as Hezbollah , of obstructing and harming its forces and infrastructure. Hezbollah’s power, meanwhile, has grown, both in its arsenal and as a political influence in the Lebanese state. The Iran-backed group was essential in keeping Syrian President Bashar Assad in power when armed opposition groups tried to topple him, and it supports Iran-backed groups in Iraq and Yemen. It has an estimated 150,000 rockets and missiles, including precision-guided missiles pointed at Israel, and has introduced drones into its arsenal . Hanna says Hezbollah “is something never seen before as a non-state actor” with political and military influence. How do mediators hope to implement 1701 almost two decades later? Israel’s security Cabinet approved the ceasefire agreement late Tuesday, according to Prime Minister Benjamin Netanyahu’s office. The ceasefire is set to take hold at 4 a.m. local time Wednesday. Efforts led by the U.S. and France for the ceasefire between Israel and Hezbollah underscored that they still view the resolution as key. For almost a year, Washington has promoted various versions of a deal that would gradually lead to its full implementation. International mediators hope that by boosting financial support for the Lebanese army — which was not a party in the Israel-Hezbollah war — Lebanon can deploy some 6,000 additional troops south of the Litani River to help enforce the resolution. Under the deal, an international monitoring committee headed by the United States would oversee implementation to ensure that Hezbollah and Israel’s withdrawals take place. It is not entirely clear how the committee would work or how potential violations would be reported and dealt with. The circumstances now are far more complicated than in 2006. Some are still skeptical of the resolution’s viability given that the political realities and balance of power both regionally and within Lebanon have dramatically changed since then. “You’re tying 1701 with a hundred things,” Bahout said. “A resolution is the reflection of a balance of power and political context.” Now with the ceasefire in place, the hope is that Israel and Lebanon can begin negotiations to demarcate their land border and settle disputes over several points along the Blue Line for long-term security after decades of conflict and tension.Dolphins Deep Dive: Mike McDaniel in full control during win streak | VIDEO
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Tesla shares could see a correction as the firm's valuation isn't supported by its business, UBS said. UBS says the stock could fall 35%, which would wipe out most of the postelection rally. Tesla needs to grow to deliver 15 million cars in 2030, well beyond what's been forecast, UBS said. Tesla shares could be poised for a double-digit correction, as the car company's fundamentals don't support the surge in its stock price since the election, UBS analysts said. In a note on Monday, the bank maintained its "sell" rating on Tesla stock and issued a price target of $226 a share. Though that's slightly higher from the bank's previous price target of $197 a share, it implies 35% downside for Elon Musk's carmaker, which traded at around $353 at midday on Monday. Analysts expressed doubts about Tesla's recent stock rally , with shares of the EV maker surging around 40% since Donald Trump secured his election win at the beginning of this month. Investors are feeling bullish that Elon Musk's ties to the President-elect will be positive for Tesla. The company was reportedly onboard with ending the EV tax credit , which analysts have said would primarily hurt Tesla's competitors. Investors also think loosening regulation in the AI space, and potentially making investigations on Tesla's full self-driving software "go away" are bullish developments for the company, the UBS note said. However, that optimism isn't supported by the fundamentals of Tesla's business, which looks to be on a slower growth trajectory than its current stock price implies, the analysts said. "Thus, the rise in Tesla stock is mostly driven by animal spirits/momentum (which has happened multiple times in TSLA's history)," the firm wrote. "We urge investors to think about what one needs to believe in adding to TSLA position at current levels." Tesla's valuation , which got a $350 million boost to recalaim a $1 trillion valuation after the election, implies the company will grow so fast that it will deliver 15.5 million vehicles annually by 2030, UBS estimated, more than triple the 4.8 million deliveries Wall Street is expecting for that year. Tesla's energy business, meanwhile, would need to store 780 gigawatt hours of energy in 2030, more than five times the 134 gigawatt hours of storage Wall Street is expecting that year. Tesla's robotaxi business would also need to gain around $300 billion in value, the. analysts said. The idea that Tesla will benefit from Trump's second term in office may also be misguided, the bank suggested. Eliminating the EV tax credit, for instance, may not be completely positive for Tesla, as it could push the company to resume price cuts on some of its models. The stock is also flashing warning signs that its valuation could be approaching a near-term peak. At the moment, Tesla's car business only makes up 12% of its total valuation. In the past, when Tesla's car business fell below 17% of its total market cap, its stock tended to "enter a downward channel," UBS added. "The prior two times that metric has hit ~10%, we've seen corrections of >30% and >70%," analysts wrote. Other forecasters have turned more cautious on Tesla, despite the stock climbing over 40% from levels since the start of the year. Prior to the election, JPMorgan said it foresaw as much as 48% downside for Tesla shares , pointing to the company's "stalled automotive growth."
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Make gaming easier for the video game enthusiast in your life. (iStock) Finding a gift for the gamers in your life can be difficult, especially if you have no idea what type of tech they’d like. Well, Amazon has you covered this holiday season. During their early Black Friday sales, Amazon has sales on gaming accessories and consoles that every type of gamer is sure to love! In an era where gaming is not just a hobby but a lifestyle, the right present can really enhance the gaming universe and make a gamer’s setup more comfortable. These 10 gifts cater to various aspects of gaming, ensuring that you can find something that will be cherished by the gamers in your life. Most purchases can be delivered to your door in 24 hours if you're an Amazon Prime member . You can join or start a 30-day free trial to start your holiday shopping today. Nintendo Switch Lite: on sale for $185 Original price: $199.99 Take your games on the go with a Nintendo Switch Lite. 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(Amazon ) Gamers of all kinds will love a gamer neon sign featuring a controller. This vibrant sign is easy to hang and gives off bright, neon light that will add to the gaming atmosphere. 12 LAWN GAMES TO HELP YOUR FAMILY GET OUTSIDE MORE Gaming keyboard: on sale for $65.99 Original price: $129.99 A bright gaming keyboard provides a satisfying gaming experience. (Amazon ) Get the gamer in your life a new shiny gaming keyboard this year. The Logitech gaming keyboard is a durable keyboard that delivers an audible and tactile click that’s so satisfying while gaming. It’s also ultra-portable and won’t take up a ton of space on a gaming desk. Controller charger station: on sale for $32.98 Original price: $34.80 Charge all your Xbox controllers quickly. (Amazon ) Xbox users can more easily keep their controllers charged with a controller charging station . The station includes one rechargeable battery pack that provides 18 to 25 hours of game play once the controllers are charged. 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By MARK ALMOND Published: 22:41 GMT, 3 December 2024 | Updated: 22:44 GMT, 3 December 2024 e-mail 7 View comments No one expected this. Not the Americans who view Seoul as a crucial Asian ally, not half-starved North Korea under the heel of its dictator, and certainly not the people of South Korea themselves. As martial law was declared by the president Yoon Suk Yeol yesterday, many of the country’s 52 million inhabitants must have feared an international emergency had erupted – perhaps an invasion or nuclear tests by their neighbour. But, as soldiers barricaded the entrance to the parliament building and all democratic political activity was suspended, it became plain this was a domestic crisis on a seismic scale. Whatever happens next will only magnify the shock. Yoon, whose party had already suffered huge losses in this year’s parliamentary election , has acted in a desperate bid to avoid being forced from office. If he topples, he will leave a power vacuum. But clinging on doesn’t seem a realistic option after a half-baked coup to keep himself in power. Any scenarios are potentially catastrophic for the US, which has more than 24,000 troops stationed in the country. Since the Korean War of the 1950s, this peninsula has been a crucial foothold in the East for America. In Beijing , the Chinese Communist Party will be deciding how to react. It is unlikely they will make any sudden moves. North Korean dictator Kim Jong Un will try to take advantage of political unrest in South Korea over martial law by stirring up more chaos, writes Mark Almond South Korean President Yoon Suk Yeol declared martial law late on Tuesday but has since had lift legislation following unrest People gesture as they gather outside the National Assembly in Seoul on December 4, 2024, after South Korea President Yoon Suk Yeol declared martial law But North Korea’s Kim Jong-un – infamously nicknamed ‘Little Rocket Man’ by Donald Trump – is far less predictable. He will certainly try to take advantage of the situation by stirring up more unrest. Cyber warfare is a favourite weapon but he could also seek to intimidate his neighbours by firing a missile – a tactic he has used with Japan in the past. He might even order a border incursion to demonstrate his military might. While South Korea has the world’s lowest birthrate and an ageing population, North Korea is a young nation. It has no shortage of recruits for its large army, and was able earlier this year to send 10,000 troops to assist Russia in Ukraine. If the North staged a full-scale invasion, the US would have no choice but to declare war. Yet that would put Washington in the impossible position of supporting Yoon, who is now acting as a tyrant. His bitterest political enemies could not have foreseen this when he was elected as a conservative leader on an anti-corruption platform in 2022. South Korea has been dogged for decades by financial skulduggery in government, and Yoon touted himself as a leading activist in the fight against dirty dealings. Instead, he has wallowed in the muck. His First Lady Kim Keon Hee has been accused of accepting bribes. Opponents liken her to Marie Antoinette. We don’t yet know whether Yoon will go quickly, or whether the National Assembly, having lifted the martial law decree, will demand his head. As I write, the situation is uncertain. What is certain is that this volatility in a major economy balancing on a nuclear trip wire means South Korea’s crisis will have repercussions around the world. Soldiers try to enter the National Assembly building in Seoul on December 4 2024, after South Korea President Yoon Suk Yeol declared martial law It comes as Kim Jong Un sent thousands of troops to Ukraine to assist Russian soldiers amid the ongoing conflict The collapse of the coup doesn’t mean that after a bout of midnight madness South Korea will return to normal. That this could happen shows that behind the facade of K-Pop and Samsung Galaxies, deep problems of corruption lurked. Another crisis about who will take over in South Korea may just be beginning. Mark Almond is director of Crisis Research Institute in Oxford. Share or comment on this article: Mark Almond: Will the Little Rocket Man now seize the chance to cause havoc? e-mail Add comment
Calibre Mining (TSX: CXB; US-OTC: CXBMF) has found gold a kilometre from its Valentine mine in Newfoundland, just months before production is expected to start. The grades are 40% higher than the existing reserves. The new intercepts in the Frank Zone are outside documented resources. The discovery comes from the company's 100,000 metres of drilling launched earlier this year, and shows the gold district's untapped potential, president and CEO Darren Hall said Monday in a release. It "strengthens our confidence that Valentine represents a new gold district," Hall said. “Since our initial due diligence in 2024, the team has been extremely excited by the highly prospective district potential of the Valentine gold mine property, which has a similar geologic setting to the prolific Val-d’Or and Timmins camps in the Abitibi gold belt,” Hall said. The Valentine project, 85% complete as of this month, remains on track to pour its first gold in the second quarter next year. With construction nearing completion and production expected to average 200,000 oz. per year over the first 12 years, the recent exploration success adds momentum to Calibre’s push to establish Valentine as a cornerstone asset. Highlight hole FZ-24-048 cut 172.8 metres at 2.43 grams gold per tonne from 271 metres depth. Hole FZ-24-046 returned 95.4 metres at 2.12 grams gold from 341 metres depth and hole FZ-24-040 cut 78.3 metres grading 2.26 grams gold from 361 metres deep. The drilling targets the underexplored Valentine Lake Shear Zone, which stretches 32 km across Calibre’s 250 sq. km property. A 2022 feasibility study for the Valentine project defined proven and probable reserves of 2.7 million oz. (51.6 million tonnes at 1.62 grams gold per tonne) and 3.9 million measured and indicated oz. (64.6 million tonnes at 1.90 grams gold), inclusive of the reserves. There are also 1.1 million inferred oz. (20.7 million tonnes at 1.65 grams gold). The drilling found a 1,000-metre corridor of continuous mineralization. Several intercepts contained visible gold. Calibre shares opened in the red on Monday at $2.33 following Friday’s $2.35 close, but by early afternoon trading, bids were pushing prices 1.3% or 3¢ higher at $2.38. Shares have ranged between $1.18-$2.90 over the past 12 months and the company has a market capitalization of $1.9 billion. The company’s growth prospects have some analysts convinced. BMO’s mining analyst Brian Quast maintains an outperform rating on the stock due to the company’s long-term growth plans. He gives a target price of $4.40 per share. Calibre’s senior vice-president of strategy and growth, Tom Gallo, explained that the 1 km stretch of gold mineralization the new drilling outlined is southwest of the Leprechaun deposit. It extends the known mineralized area to 1,500 metres. He noted that some of the richest intercepts also expanded the gold zone's width by 250-300 metres. This opens new exploration opportunities beyond the main Valentine Lake Shear Zone. The company says it will define new targets while ongoing drilling northeast of the Marathon deposit is uncovering “promising opportunities and identifying several new, high priority targets for exploration,” Hall said. Calibre last month cut its full-year production forecast by over 18% to 235,000 oz. gold and raised Valentine’s capital cost estimate by $91 million to $744 million, citing underperformance in Nicaragua and revised infrastructure material needs. Calibre also amended its gold prepayment agreement with Asahi Refining, securing an extra US$55 million for 20,000 oz. of gold, to be delivered at 2,500 oz. per month from May to December next year. This builds on a US$60 million agreement from March for 27,600 oz. with deliveries on the stream coming from other operations since May.
Two major automakers are joining forces to surviveThanksgiving is almost upon us, and given that we're fresh off one of the most contentious and politically divisive election seasons of our time, it's probably not realistic to expect a holiday totally free of drama. If you're one of the lucky few whose family is united around political issues, treasure those peaceful conversations at the Thanksgiving table; for the rest of us, it can be challenging to know how best to talk to loved ones (or, to be real, tolerated-out-of-necessity ones) about anything substantive. Beides, for many of us, these issues aren't “just politics”; they directly affect the way we live our lives and the safety and happiness of our families and friends. While tapping out of such conversations doesn't feel like a responsible or realistic option in 2024, it feels equally dismal to simply accept a tense or outright hostile environment during what should be a joyful and grateful time of year. So, for some expert guidance on this issue, Vogue spoke to Dr. Audra Nuru, a professor of communication and family studies at the University of St. Thomas in St. Paul, Minnesota, about how to engage loved ones with differing views in a productive way (and, just as importantly, how to set boundaries when it feels like engagement is no longer good for you and your mental health). Find her thoughts—and some sample scripts she's provided for different conversations—below. Vogue : How do you recommend preparing for an event or gathering that might include viewpoints you disagree with or find harmful? Dr. Audra Nuru : It's true that those kinds of encounters can benefit from a bit of preparation. I like to think of it like packing for a trip to a new and unfamiliar place—you want to be prepared for the expected, but also pack with an open mind for the unexpected. So, before heading into that event, take some time to reflect on what topics might feel a bit sensitive for you, almost like checking the weather forecast so you can pack accordingly. Remember, everyone is coming to the table with their own unique experiences and perspectives. Embrace those differences with curiosity and kindness. And of course, it's always wise to set healthy boundaries—that's like having a good map and a reliable guide to help you navigate any unfamiliar territory. Is there a subtle, useful way to redirect a political conversation that's starting to feel upsetting? First and foremost, prioritize the relationship. Remember that the person you're talking to matters more than proving a point. Ask yourself, “How can I express my views while still showing respect and valuing this person?” Part of showing respect is acknowledging that you may have different perspectives. If a conversation starts to feel a little uncomfortable, try gently saying something like, “I hear you, and I hold a different perspective.” This lets the other person know you're listening and that their views matter, even if you don't agree. Secondly, listen with your heart, not just your head. Truly try to understand where they're coming from, even if you disagree. What experiences have shaped their beliefs? What emotions are they expressing? And remember, even when it's tough, try to see things from their perspective. Stepping into another's shoes, even for a moment, can foster understanding and empathy. Third, look for points of connection. Even in the midst of disagreement, there's often some shared experiences or common ground to connect on. It can also be valuable to sense when a conversation needs a pause. If things are starting to feel tense, it's completely fine to suggest taking a break or shifting to a different topic. Ultimately, navigating difficult conversations with respect is about how we connect, even when we disagree. It's about building bridges of understanding by making space for different perspectives. What's a respectful yet firm way to let someone know their comments have crossed a line? Using “I” language is such a powerful tool for navigating difficult conversations. Instead of pointing fingers, “I” language lets us shift the focus to our own experience. Imagine saying something like, “I felt uncomfortable when I heard that comment.” It's honest, it's respectful, and it avoids making the other person feel attacked. When we own our feelings, it invites the other person to do the same. It creates this space for empathy and understanding, even when we might disagree.WINDHOEK, Namibia (AP) — Namibia elected its first female leader as Vice President Netumbo Nandi-Ndaitwah was declared the winner Tuesday of a presidential election last week that was tarnished by technical glitches that caused a three-day extension to allow votes to be cast, and rejected as illegal by opposition parties. The 72-year-old Nandi-Ndaitwah won with 57% of the vote, defying predictions that she might be forced into a runoff. Her ruling SWAPO party also retained its parliamentary majority, although by a very thin margin, and extended its 34-year hold on power since the southern African country gained independence from apartheid South Africa in 1990. Namibia, a sparsely populated country of around 3 million on the southwestern coast of Africa, has a reputation for being one of the continent's more stable democracies and the problems around the election have caused consternation. Last Wednesday's vote was marred by shortages of ballot papers and other problems that led election officials to extend voting until Saturday. Opposition parties have said the extension is unconstitutional, and some have pledged to join together in a legal appeal to have the election invalidated. The Electoral Commission of Namibia, which ran the election, rejected opposition calls for a redo of the vote. It has undermined Nandi-Ndaitwah's place in history. She is set to become her country's fifth president since independence and a rare female leader in Africa. She was a member of Namibia's underground independence movement in the 1970s and received part of her higher education in the then-Soviet Union. She was promoted to vice president in February after President Hage Geingob died while in office . Nangolo Mbumba, who became president after Geingob's death, didn't run in the election. The ruling SWAPO party won 51 seats in the parliamentary vote, only just passing the 49 it needed to keep its majority and narrowly avoiding becoming another long-ruling party to be rejected in southern Africa this year. It was SWAPO's worst parliamentary election result. A mood of change has swept across the region, with parties that led their countries out of white minority or colonial rule in neighboring South Africa and Botswana both losing their long-held political dominance. South Africa's African National Congress, which freed the country from the racist system of apartheid, lost its 30-year majority in an election in May and had to form a coalition. Botswana's ruling party was stunningly removed in a landslide in October after governing for 58 years since independence from Britain. Mozambique's long-ruling Frelimo has been accused of rigging an October election and has faced weeks of violent protests against its rule. SWAPO faced similar challenges as those countries, with frustration at high unemployment and economic hardship, especially among young people, driving a desire for era-ending change. In a brief speech after the results were announced late Tuesday night, Nandi-Ndaitwah said Namibians had voted for peace, stability and youth empowerment. “We are going to do what we promised you during the campaigns. Thank you for your confidence and trust in us," she said. Nandi-Ndaitwah was also due to address the nation on Wednesday morning. “SWAPO Wins. Netumbo Wins. Namibia Wins. Now Hard Work,” the ruling party posted on its official account on social media site X. Some opposition parties boycotted the announcement by the Electoral Commission of Namibia at its results center in the capital, Windhoek. The commission has been roundly criticized for its running of the vote, with many angry Namibians complaining they had to wait hours and sometimes over multiple days for the chance to vote. Just over 1 million votes were cast out of 1.4 million registered voters, according to the electoral commission. Panduleni Itula, the leading opposition candidate from the Independent Patriots for Change party, was second in the presidential election with 25% of the vote. His party won the second-largest number of seats in Parliament behind SWAPO. Itula and his party have led the criticism of the vote and said they will lodge their appeal against the election this week. Other opposition parties said they will join that legal challenge. Itula has said that thousands of voters may have been prevented from voting as only some polling stations allowed an extension. "This election has violated the very tenets of our Electoral Act. Namibians deserve the right to choose their leaders freely and fairly, not through a rigged process,” he said. Namibia is a former German colony that came under South African control after World War I and its Black majority was later subjected to some of South Africa’s apartheid policies. SWAPO was at the forefront of the battle for independence from South Africa. While the country has swaths of desert running through it, it has diamond and uranium resources and untapped oil and gas off its coast that is being explored by international companies and could make it a major producer of both. ___ AP Africa news: https://apnews.com/hub/africa The Associated Press
Jared Birchall, Elon Musk’s money manager and the head of his family office, is listed as the chief executive officer. Jehn Balajadia, a longtime Musk aide who has worked at SpaceX and the Boring Co., is named as an official contact. But they’re not connected to Musk’s new technology venture, or the political operation that’s endeared him to Donald Trump. Instead, they’re tied to the billionaire’s new Montessori school outside Bastrop, Texas, called Ad Astra, according to documents filed with state authorities and obtained via a Texas Public Information Act request. The world’s richest person oversees an overlapping empire of six companies — or seven, if you include his political action committee. Alongside rockets, electric cars, brain implants, social media and the next Trump administration, he is increasingly focused on education, spanning preschool to college. One part of his endeavor was revealed last year, when Bloomberg News reported that his foundation had set aside roughly $100 million to create a technology-focused primary and secondary school in Austin, with eventual plans for a university. An additional $137 million in cash and stock was allotted last year, according to the most recent tax filing for the Musk Foundation. Ad Astra is closer to fruition. The state documents show Texas authorities issued an initial permit last month, clearing the way for the center to operate with as many as 21 pupils. Ad Astra’s website says it’s “currently open to all children ages 3 to 9.” The school’s account on X includes job postings for an assistant teacher for preschool and kindergarten and an assistant teacher for students ages 6 to 9. To run the school, Ad Astra is partnering with a company that has experience with billionaires: Xplor Education, which developed Hala Kahiki Montessori school in Lanai, Hawaii, the island 98% owned by Oracle Corp. founder Larry Ellison. Ad Astra sits on a highway outside Bastrop, a bedroom community about 30 miles from Austin and part of a region that’s home to several of Musk’s businesses. On a visit during a recent weekday morning, there was a single Toyota Prius in the parking lot and no one answered the door at the white building with a gray metal roof. The school’s main entrance was blocked by a gate, and there was no sign of any children on the grounds. But what information there is about Ad Astra makes it sound like a fairly typical, if high-end, Montessori preschool. The proposed schedule includes “thematic, STEM-based activities and projects” as well as outdoor play and nap time. A sample snack calendar features carrots and hummus. While Birchall’s and Balajadia’s names appear in the application, it isn’t clear that they’ll have substantive roles at the school once it’s operational. Musk, Birchall and Balajadia didn’t respond to emailed questions. A phone call and email to the school went unanswered. Access to high-quality, affordable childcare is a huge issue for working parents across the country, and tends to be an especially vexing problem in rural areas like Bastrop. Many families live in “child care deserts” where there is either not a facility or there isn’t an available slot. Opening Ad Astra gives Musk a chance to showcase his vision for education, and his support for the hands-on learning and problem solving that are a hallmark of his industrial companies. His public comments about learning frequently overlap with cultural concerns popular among conservatives and the Make America Great Again crowd, often focusing on what he sees as young minds being indoctrinated by teachers spewing left-wing propaganda. He has railed against diversity, equity and inclusion efforts, and in August posted that “a lot of schools are teaching white boys to hate themselves.” Musk’s educational interests dovetail with his new role as Trump’s “first buddy.” The billionaire has pitched a role for himself that he — and now the incoming Trump administration — call “DOGE,” or the Department of Government Efficiency. Though it’s not an actual department, DOGE now posts on X, the social media platform that Musk owns. “The Department of Education spent over $1 billion promoting DEI in America’s schools,” the account posted Dec. 12. Back in Texas, Bastrop is quickly becoming a key Musk point of interest. The Boring Co., his tunneling venture, is based in an unincorporated area there. Across the road, SpaceX produces Starlink satellites at a 500,000-square-foot facility. Nearby, X is constructing a building for trust and safety workers. Musk employees, as well as the general public, can grab snacks at the Boring Bodega, a convenience store housed within Musk’s Hyperloop Plaza, which also contains a bar, candy shop and hair salon. Ad Astra is just a five-minute drive away. It seems to have been designed with the children of Musk’s employees — if not Musk’s own offspring — in mind. Musk has fathered at least 12 children, six of them in the past five years. “Ad Astra’s mission is to foster curiosity, creativity, and critical thinking in the next generation of problem solvers and builders,” reads the school’s website. A job posting on the website of the Montessori Institute of North Texas says, “While their parents support the breakthroughs that expand the realm of human possibility, their children will grow into the next generation of innovators in a way that only authentic Montessori can provide.” The school has hired an executive director, according to documents Bloomberg obtained from Texas Health and Human Services. Ad Astra is located on 40 acres of land, according to the documents, which said a 4,000-square-foot house would be remodeled for the preschool. It isn’t uncommon for entrepreneurs to take an interest in education, according to Bill Gormley, a professor emeritus at the McCourt School of Public Policy at Georgetown University who studies early childhood education. Charles Butt, the chairman of the Texas-based H-E-B grocery chain, has made public education a focus of his philanthropy. Along with other business and community leaders, Butt founded “Raise Your Hand Texas,” which advocates on school funding, teacher workforce and retention issues and fully funding pre-kindergarten. “Musk is not the only entrepreneur to recognize the value of preschool for Texas workers,” Gormley said. “A lot of politicians and business people get enthusiastic about education in general — and preschool in particular — because they salivate at the prospect of a better workforce.” Political moves Musk spent much of October actively campaigning for Trump’s presidential effort, becoming the most prolific donor of the election cycle. He poured at least $274 million into political groups in 2024, including $238 million to America PAC, the political action committee he founded. While the vast majority of money raised by America PAC came from Musk himself, it had support from other donors. Betsy DeVos, who served as education secretary in Trump’s first term, donated $250,000, federal filings show. The Department of Education is already in the new administration’s crosshairs. Trump campaigned on the idea of disbanding the department and dismantling diversity initiatives, and he has also taken aim at transgender rights. “Rather than indoctrinating young people with inappropriate racial, sexual, and political material, which is what we’re doing now, our schools must be totally refocused to prepare our children to succeed in the world of work,” Trump wrote in Agenda 47, his campaign platform. Musk has three children with the musician Grimes and three with Shivon Zilis, who in the past was actively involved at Neuralink, his brain machine interface company. All are under the age of 5. Musk took X, his son with Grimes, with him on a recent trip to Capitol Hill. After his visit, he shared a graphic that showed the growth of administrators in America’s public schools since 2000. Tuition costs Musk is a fan of hands-on education. During a Tesla earnings call in 2018, he talked about the need for more electricians as the electric-car maker scaled up the energy side of its business. On the Joe Rogan podcast in 2020, Musk said “too many smart people go into finance and law.” “I have a lot of respect for people who work with their hands and we need electricians and plumbers and carpenters,” Musk said while campaigning for Trump in Pennsylvania in October. “That’s a lot more important than having incremental political science majors.” Ad Astra’s website says the cost of tuition will be initially subsidized, but in future years “tuition will be in line with local private schools that include an extended day program.” “I do think we need significant reform in education,” Musk said at a separate Trump campaign event. “The priority should be to teach kids skills that they will find useful later in life, and to leave any sort of social propaganda out of the classroom.”IPSWICH, England (Reuters) -Crystal Palace eked out a 1-0 victory at Ipswich Town, with Jean-Philippe Mateta capitalising on a slip from his marker to score the winner just before the hour mark in Tuesday’s Premier League clash. The French striker broke free in the 59th minute, as Ipswich’s Jacob Greaves lost his footing, before lifting the ball over keeper Arijanet Muric. Palace are 16th in the table with 12 points, while Ipswich are second-to-bottom with nine points. It was a first away win of the league campaign for Palace, while the hosts are still waiting for their first victory at Portman Road since winning promotion. “Very pleased with the result. It was not about performing brilliantly. We expected a big fight and it was a big fight,” Palace manager Oliver Glasner told Match of The Day. “I told the players we had to expect a big fight today and it was a big fight, especially at the end. We expected them to play man to man, big pressure. “We’re pleased with our defensive performance, we didn’t allow them a chance from open play, just one from a set piece in the first half and one in the second half.” As the largely uneventful first half drew to a close, Palace began to take control, pressing Ipswich back after what had been an even contest. Palace’s Eberechi Eze nearly made the breakthrough just before halftime, firing his shot under pressure at Muric’s legs. The hosts created an opportunity minutes later when Jack Clarke connected with a corner at the near the post, but Palace goalkeeper Dean Henderson kept out his header. Ipswich pressed forward after Mateta’s goal and went close in the final minutes when Greaves’s header hit the post, with no Ipswich players on hand to capitalise on the rebound. “We can do better than we did tonight. I don’t think that performance was on the level of some of our home performances. We didn’t hit our best level tonight,” Ipswich manager Kieran McKenna said. “We started the second half really well, looked like we were going to grow into the game, we knew we had some good impact off the bench. Then we gave away a poor goal from our point of view. That really decides the game.” (Reporting by Tommy Lund in GdanskEditing by Toby Davis) Disclaimer: This report is auto generated from the Reuters news service. 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Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Dec 23, 2024-- Venu Holding Corporation ("VENU" or “The Company”) (NYSE American: VENU), a leading premium hospitality and live entertainment company built by music fans for music fans, announced today its third quarter 2024 results for the period ended September 30, 2024, the first earnings report since its successful initial public offering (“IPO”) which closed on November 29, 2024. In the third quarter of 2024, VENU brought luxury entertainment to life. VENU executed its business plan with the historic launch of its fan founded and fan owned mission with the opening of its first live, ultra-lux entertainment complex in Colorado Springs, Colorado, Ford Amphitheater. Colorado Ford Dealerships purchased the naming rights for ten years for $13 million, one of the largest amphitheater sponsorships in history. This $70 million state-of-the-art facility hosted its Grand Opening weekend in August 2024 with an energetic, sold-out crowd featuring GRAMMY award winner, Ryan Tedder and his globally recognized band, OneRepublic. Designed to host over 8,000 music fans per show, Ford Amphitheater features 92 custom build luxury fire-pits suites, a unique feature to all VENU owned and planned amphitheaters. Nominated by Pollstar Magazine for 2024 Best New Concert Venue of the Year, Ford Amphitheater welcomed over 96,000 music fans from over 5,500 different zip codes from all 50 states in its limited first season. While only hosting 17 shows in August and September (compared to a typical touring season of up to 60 shows running April to November), the Ford Amphitheater featured internationally renowned performers such as Dierks Bentley, Robert Plant, Lauren Daigle and more. Now entering its first full season in 2025, the Ford Amphitheater is off to a rocking start. With an initial set of shows announced and on sale for the 2025 season, and many more in the pipeline, the Ford Amphitheater is actively booking an exciting lineup through its partnership with AEG Presents Rocky Mountains. VENU is also on schedule to unveil its highly anticipated $35 million dining and entertainment collection in 2025, strategically developed to sit along the east perimeter of Ford Amphitheater. Designed for year-round service, the innovative development will cater to guests during shows and beyond, featuring upscale restaurants and bars, Owners Clubs, and vibrant social and private event spaces. “ With two completed and operating campuses in Colorado Springs, Colorado and Gainesville, Georgia; four in the construction phase, and five others in the design and development phase, we have set the stage for continued growth,” said J.W. Roth, the Company’s Founder, Chairman and Chief Executive Officer. “ Together, once operational, these anticipated markets are projected to add over $2 billion in real assets to our balance sheet and will bring our seat inventory to an anticipated 150,000 seats.” J.W. Roth continued: “ When fully developed, our initial 11 live entertainment complexes will be able to hold up to 60 shows per year, which calculates gross sellable seating at approximately 10 million seats per year. With an expected average gross sales price of $150 per seat, VENU’s annual gross receipts could be in excess of $1.5 billion. ” Performance Highlights: Key Updates: Q3 2024, Year-to-Date Highlights, and Notable Business Developments CONFERENCE CALL DETAILS Monday, December 23, 2024, 4:30 p.m. Eastern Time USA/Canada Toll-Free Dial-In Number: (800) 715-9871 International Toll Dial-In Number: +1 (646) 307-1963 Conference ID: 9521412 Webcast Link: https://events.q4inc.com/attendee/565245234 Webcast Replay - available through December 23, 2025, at https://investors.venu.live About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to crafting luxury, experience-driven entertainment destinations. VENU’s campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 8,000-seat Ford Amphitheater. Expanding with new Sunset Amphitheaters in Oklahoma and Texas, VENU’s upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU’s vision of redefining the live entertainment experience. VENU has been recognized nationally by The Wall Street Journal , The New York Times , Denver Post , Billboard , VenuesNow , and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Lager, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit venu.live Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. 2024 2023 $ 35,796,857 $ 20,201,104 226,871 185,746 1,171,226 209,215 1,370,710 - 38,565,664 20,596,065 125,756,511 57,737,763 227,956 277,995 1,446,793 3,685,980 550,000 550,000 50,878 375,904 128,032,138 62,627,642 $ 166,597,802 $ 83,223,707 5,822,922 2,565,460 13,137,911 698,369 316,927 331,457 2,209,107 764,081 8,583,275 - 371,111 230,952 208,510 325,245 30,649,763 4,915,564 1,109,006 3,646,385 6,800,000 1,500,000 14,001,634 11,182,073 $ 52,560,403 $ 21,244,022 383 1,960 - 30,306 35,915 - - - 121,914,521 47,743,085 (41,073,711 ) (17,021,453 ) 80,877,108 30,753,898 (1,500,076 ) (76 ) 79,377,032 30,753,822 34,660,367 31,225,863 $ 114,037,399 $ 61,979,685 $ 166,597,802 $ 83,223,707 2024 2023 2024 2023 $ 2,740,411 $ 2,892,082 $ 8,144,605 $ 6,706,719 2,002,572 961,222 4,663,228 1,838,736 708,992 58,075 759,123 140,120 $ 5,451,975 $ 3,911,379 $ 13,566,956 $ 8,685,575 653,178 712,026 1,901,590 1,530,107 435,841 407,889 1,727,311 634,368 1,152,909 1,188,574 3,358,871 2,572,382 333,192 363,032 975,756 863,850 5,449,396 3,428,774 24,279,184 9,944,662 1,103,720 565,355 2,319,513 1,279,510 9,128,236 6,665,650 34,562,225 16,824,879 $ (3,676,261 ) $ (2,754,271 ) $ (20,995,269 ) $ (8,139,304 ) (1,162,663 ) (92,252 ) (2,717,849 ) (222,812 ) - - (2,500,000 ) - - - - (11,947 ) 276,452 - 502,962 20,153 35,000 38,610 97,500 109,179 (851,211 ) (53,642 ) (4,617,387 ) (105,427 ) $ (4,527,472 ) $ (2,807,913 ) $ (25,612,656 ) $ (8,244,731 ) (595,251 ) (33,707 ) (1,560,398 ) (538,133 ) $ (3,932,221 ) $ (2,774,206 ) $ (24,052,258 ) $ (7,706,598 ) - - - 182,234 $ - $ - $ - $ (0.31 ) 383,656 11,695,841 839,116 17,514,426 $ (0.13 ) $ (0.09 ) $ (0.58 ) $ (0.31 ) 20,997 20,504,392 9,027,155 7,549,308 $ (0.13 ) $ (0.09 ) $ (0.58 ) $ (0.31 ) 25,879,401 - 21,805,264 - $ (0.13 ) $ - $ (0.58 ) $ - 3,282,150 - 9,775,099 - $ (0.13 ) $ - $ (0.58 ) $ - 2024 2023 $ (25,612,656 ) $ (8,244,731 ) 448,150 - 3,927,325 273,380 7,000,000 1,742,974 579,981 - 1,985,568 1,434 268,635 363,149 - (11,678 ) 2,319,513 1,279,510 2,500,000 - (41,125 ) (93,060 ) (962,011 ) 205,157 325,026 (215,904 ) 3,233,914 (1,670,904 ) 12,439,542 54,576 (1,370,710 ) - (14,530 ) (113,865 ) 1,445,026 248,542 (235,641 ) (336,794 ) 5,100,000 - 13,336,007 (6,518,214 ) (61,615,767 ) (19,190,024 ) 74,085 - (61,541,682 ) (19,190,024 ) 29,900,282 10,950,000 (893,082 ) (548,830 ) (232,327 ) (144,431 ) 30,426,503 14,512,268 52 82,600 (100,000 ) - (1,500,000 ) (76 ) 6,200,000 - 63,801,428 24,851,531 15,595,753 (856,707 ) 20,201,104 23,470,734 $ 35,796,857 $ 22,614,027 $ 296,593 $ 234,197 $ - $ 4,402,392 $ 10,000,000 $ - $ 3,000,140 $ - $ 100,000 $ - $ 200,000 $ - $ 3,267,000 $ - $ 471,476 $ - View source version on businesswire.com : https://www.businesswire.com/news/home/20241223353851/en/ For media requests, connect with Chloe Hoeft atchoeft@venu.liveor 719-895-5470 KEYWORD: COLORADO UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ENTERTAINMENT MUSIC EVENTS/CONCERTS SOURCE: Venu Holding Corporation Copyright Business Wire 2024. PUB: 12/23/2024 04:10 PM/DISC: 12/23/2024 04:10 PM http://www.businesswire.com/news/home/20241223353851/en
Trump won about 2.5M more votes this year than he did in 2020. This is where he did itISLAMABAD: The World Bank (WB) has estimated Pakistan’s total external debt stocks at $130.847 billion by end 2023 compared to $127.708 billion by end-2022. The World Bank in its latest report, “International Debt Report 2024, noted that the South Asia region saw the biggest yearly increase in interest payments on public and publicly guaranteed (PPG) debtin 2023, rising 62 per cent to $12.5 billion. The increase was most noticeable in Bangladesh and India, whose interest payments increased by more than 90per cent in 2023; Pakistan made the second-largest interest payments in the region. Govt debt stocks rise to Rs69.9trn For IDA-eligible countries, interest payments on total debt stock have tripled since 2013 to an all-time high of $34.6 billion in 2023. Interest payments as a share of export earnings, a measure of the repayment capacity of a country, significantly increased by 1.6 percentage points in 2023 to 5.8 per cent, equivalent to an increase last recorded in 2005. Mozambique (38.3 per cent), Senegal (25.9 per cent), Pakistan (13.6 per cent), Kenya (12.8 per cent), and Dominica (10.3 per cent) had the highest ratios of interest payments on total debt to export earnings, a situation that has weakened their fiscal positions. The IMF repurchases for low- and middle-income countries (LMICs), excluding Argentina, more than doubled in 2023 to $12.2 billion, with the top repurchases registered from Egypt, Ukraine, and Pakistan. The IMF repurchases outpaced the increase in new lending, which rose 12.9 per cent to $14.8 billion in 2023, as new IMF lending has stabilised after the extraordinary support provided in 2020 during the aftermath of the Covid-19 pandemic. In terms of volume, the top five LMIC recipients of personal remittances in 2023 were India at US$119.5 billion, followed by Mexico ($66.2 billion), the Philippines ($39.1 billion), China ($29.1 billion), and Pakistan ($26.6 billion). The World Bank report noted that total external debt stocks stood at $130.847 billion by 2023 including the use of IMF credit and SDR allocations of $11.532 billion against $11.522 billion in 2022, long-term external debt of $110.437 billion in 2023 against $107.418 billion in 2022. Public and publicly guaranteed debt, by creditor and creditor type in 2023, including IMF credit includes 46per cent multilateral, (18 per cent World Bank, 15 per cent ADB, 13 per other multilateral), 45 per cent bilateral (22 per cent China, 7 per cent Saudi Arabia, 8 per cent other bilateral) and 9 per cent private (8 per cent bondholders, 8 per cent multiple lenders). Short-term external debt stood at $8.878 billion in 2023 compared to $8.768 billion in 2022. According to the data, external debt stocks as percentage of export was 352.4 in 2023 compared to 322.1 per cent in 2022, external debt stocks to GNI was 39.3 per cent in 2023 compared to 34.6 per cent in 2022, debt service as percentage of exports was 43.1 in 2023 compared to 42 per cent in 2022, gross national income (GNI) was 332,603.5 in 2023 compared to 369,540.0 in 2022. Of the long-term external debt stocks include; public and publically guaranteed debt $92.990 billion in 2023 compared to $91.220 billion in 2022. Commercial banks and others stood at $440 million in 2023 compared to $2.096 billion in 2022. Copyright Business Recorder, 2024
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