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Clearing members to ensure funds on due date The National Clearing Company of Pakistan Limited (NCCPL) has announced that the Capital Gains Tax (CGT) for shares sold on the Pakistan Stock Exchange (PSX) during October 2024 will be collected on Friday, November 29, 2024. Clearing Members—brokers or entities that handle trades—must ensure they have enough funds in their bank accounts on this date to cover the tax amount. CGT is also being collected for trades involving future commodity contracts that were made on the Pakistan Mercantile Exchange (PMEX) in October. Furthermore, the tax on profits earned from selling units of open-end mutual funds (investment funds that let investors buy or sell units anytime) in October has also been calculated. Detailed reports about these taxes are available in the NCCPL’s online system. The NCCPL has warned that if the tax is not fully paid, actions could be taken under its rules, which may result in penalties or other consequences. Clearing Members are urged to comply to avoid issues. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );SUNLU Formnext 2024 Event Highlights: From Functional Filaments to FilaDryer E2
Scottish international Adams scores long-range stunner in Serie A win for TorinoPLAINS, Ga. (AP) — Newly married and sworn as a Naval officer, Jimmy Carter left his tiny hometown in 1946 hoping to climb the ranks and see the world. Less than a decade later, the death of his father and namesake, a merchant farmer and local politician who went by “Mr. Earl,” prompted the submariner and his wife, Rosalynn, to return to the rural life of Plains, Georgia, they thought they’d escaped. The lieutenant never would be an admiral. Instead, he became commander in chief. Years after his presidency ended in humbling defeat, he would add a Nobel Peace Prize, awarded not for his White House accomplishments but “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” The life of James Earl Carter Jr., the 39th and longest-lived U.S. president, ended Sunday at the age of 100 where it began: Plains, the town of 600 that fueled his political rise, welcomed him after his fall and sustained him during 40 years of service that redefined what it means to be a former president. With the stubborn confidence of an engineer and an optimism rooted in his Baptist faith, Carter described his motivations in politics and beyond in the same way: an almost missionary zeal to solve problems and improve lives. Carter was raised amid racism, abject poverty and hard rural living — realities that shaped both his deliberate politics and emphasis on human rights. “He always felt a responsibility to help people,” said Jill Stuckey, a longtime friend of Carter's in Plains. “And when he couldn’t make change wherever he was, he decided he had to go higher.” Carter's path, a mix of happenstance and calculation , pitted moral imperatives against political pragmatism; and it defied typical labels of American politics, especially caricatures of one-term presidents as failures. “We shouldn’t judge presidents by how popular they are in their day. That's a very narrow way of assessing them," Carter biographer Jonathan Alter told the Associated Press. “We should judge them by how they changed the country and the world for the better. On that score, Jimmy Carter is not in the first rank of American presidents, but he stands up quite well.” Later in life, Carter conceded that many Americans, even those too young to remember his tenure, judged him ineffective for failing to contain inflation or interest rates, end the energy crisis or quickly bring home American hostages in Iran. He gained admirers instead for his work at The Carter Center — advocating globally for public health, human rights and democracy since 1982 — and the decades he and Rosalynn wore hardhats and swung hammers with Habitat for Humanity. Yet the common view that he was better after the Oval Office than in it annoyed Carter, and his allies relished him living long enough to see historians reassess his presidency. “He doesn’t quite fit in today’s terms” of a left-right, red-blue scoreboard, said U.S. Transportation Secretary Pete Buttigieg, who visited the former president multiple times during his own White House bid. At various points in his political career, Carter labeled himself “progressive” or “conservative” — sometimes both at once. His most ambitious health care bill failed — perhaps one of his biggest legislative disappointments — because it didn’t go far enough to suit liberals. Republicans, especially after his 1980 defeat, cast him as a left-wing cartoon. It would be easiest to classify Carter as a centrist, Buttigieg said, “but there’s also something radical about the depth of his commitment to looking after those who are left out of society and out of the economy.” Indeed, Carter’s legacy is stitched with complexities, contradictions and evolutions — personal and political. The self-styled peacemaker was a war-trained Naval Academy graduate who promised Democratic challenger Ted Kennedy that he’d “kick his ass.” But he campaigned with a call to treat everyone with “respect and compassion and with love.” Carter vowed to restore America’s virtue after the shame of Vietnam and Watergate, and his technocratic, good-government approach didn't suit Republicans who tagged government itself as the problem. It also sometimes put Carter at odds with fellow Democrats. The result still was a notable legislative record, with wins on the environment, education, and mental health care. He dramatically expanded federally protected lands, began deregulating air travel, railroads and trucking, and he put human rights at the center of U.S. foreign policy. As a fiscal hawk, Carter added a relative pittance to the national debt, unlike successors from both parties. Carter nonetheless struggled to make his achievements resonate with the electorate he charmed in 1976. Quoting Bob Dylan and grinning enthusiastically, he had promised voters he would “never tell a lie.” Once in Washington, though, he led like a joyless engineer, insisting his ideas would become reality and he'd be rewarded politically if only he could convince enough people with facts and logic. This served him well at Camp David, where he brokered peace between Israel’s Menachem Begin and Epypt’s Anwar Sadat, an experience that later sparked the idea of The Carter Center in Atlanta. Carter's tenacity helped the center grow to a global force that monitored elections across five continents, enabled his freelance diplomacy and sent public health experts across the developing world. The center’s wins were personal for Carter, who hoped to outlive the last Guinea worm parasite, and nearly did. As president, though, the approach fell short when he urged consumers beleaguered by energy costs to turn down their thermostats. Or when he tried to be the nation’s cheerleader, beseeching Americans to overcome a collective “crisis of confidence.” Republican Ronald Reagan exploited Carter's lecturing tone with a belittling quip in their lone 1980 debate. “There you go again,” the former Hollywood actor said in response to a wonky answer from the sitting president. “The Great Communicator” outpaced Carter in all but six states. Carter later suggested he “tried to do too much, too soon” and mused that he was incompatible with Washington culture: media figures, lobbyists and Georgetown social elites who looked down on the Georgians and their inner circle as “country come to town.” Carter carefully navigated divides on race and class on his way to the Oval Office. Born Oct. 1, 1924 , Carter was raised in the mostly Black community of Archery, just outside Plains, by a progressive mother and white supremacist father. Their home had no running water or electricity but the future president still grew up with the relative advantages of a locally prominent, land-owning family in a system of Jim Crow segregation. He wrote of President Franklin Roosevelt’s towering presence and his family’s Democratic Party roots, but his father soured on FDR, and Jimmy Carter never campaigned or governed as a New Deal liberal. He offered himself as a small-town peanut farmer with an understated style, carrying his own luggage, bunking with supporters during his first presidential campaign and always using his nickname. And he began his political career in a whites-only Democratic Party. As private citizens, he and Rosalynn supported integration as early as the 1950s and believed it inevitable. Carter refused to join the White Citizens Council in Plains and spoke out in his Baptist church against denying Black people access to worship services. “This is not my house; this is not your house,” he said in a churchwide meeting, reminding fellow parishioners their sanctuary belonged to God. Yet as the appointed chairman of Sumter County schools he never pushed to desegregate, thinking it impractical after the Supreme Court’s 1954 Brown v. Board decision. And while presidential candidate Carter would hail the 1965 Voting Rights Act, signed by fellow Democrat Lyndon Johnson when Carter was a state senator, there is no record of Carter publicly supporting it at the time. Carter overcame a ballot-stuffing opponent to win his legislative seat, then lost the 1966 governor's race to an arch-segregationist. He won four years later by avoiding explicit mentions of race and campaigning to the right of his rival, who he mocked as “Cufflinks Carl” — the insult of an ascendant politician who never saw himself as part the establishment. Carter’s rural and small-town coalition in 1970 would match any victorious Republican electoral map in 2024. Once elected, though, Carter shocked his white conservative supporters — and landed on the cover of Time magazine — by declaring that “the time for racial discrimination is over.” Before making the jump to Washington, Carter befriended the family of slain civil rights leader Martin Luther King Jr., whom he’d never sought out as he eyed the governor’s office. Carter lamented his foot-dragging on school integration as a “mistake.” But he also met, conspicuously, with Alabama's segregationist Gov. George Wallace to accept his primary rival's endorsement ahead of the 1976 Democratic convention. “He very shrewdly took advantage of his own Southerness,” said Amber Roessner, a University of Tennessee professor and expert on Carter’s campaigns. A coalition of Black voters and white moderate Democrats ultimately made Carter the last Democratic presidential nominee to sweep the Deep South. Then, just as he did in Georgia, he used his power in office to appoint more non-whites than all his predecessors had, combined. He once acknowledged “the secret shame” of white Americans who didn’t fight segregation. But he also told Alter that doing more would have sacrificed his political viability – and thus everything he accomplished in office and after. King's daughter, Bernice King, described Carter as wisely “strategic” in winning higher offices to enact change. “He was a leader of conscience,” she said in an interview. Rosalynn Carter, who died on Nov. 19 at the age of 96, was identified by both husband and wife as the “more political” of the pair; she sat in on Cabinet meetings and urged him to postpone certain priorities, like pressing the Senate to relinquish control of the Panama Canal. “Let that go until the second term,” she would sometimes say. The president, recalled her former aide Kathy Cade, retorted that he was “going to do what’s right” even if “it might cut short the time I have.” Rosalynn held firm, Cade said: “She’d remind him you have to win to govern.” Carter also was the first president to appoint multiple women as Cabinet officers. Yet by his own telling, his career sprouted from chauvinism in the Carters' early marriage: He did not consult Rosalynn when deciding to move back to Plains in 1953 or before launching his state Senate bid a decade later. Many years later, he called it “inconceivable” that he didn’t confer with the woman he described as his “full partner,” at home, in government and at The Carter Center. “We developed a partnership when we were working in the farm supply business, and it continued when Jimmy got involved in politics,” Rosalynn Carter told AP in 2021. So deep was their trust that when Carter remained tethered to the White House in 1980 as 52 Americans were held hostage in Tehran, it was Rosalynn who campaigned on her husband’s behalf. “I just loved it,” she said, despite the bitterness of defeat. Fair or not, the label of a disastrous presidency had leading Democrats keep their distance, at least publicly, for many years, but Carter managed to remain relevant, writing books and weighing in on societal challenges. He lamented widening wealth gaps and the influence of money in politics. He voted for democratic socialist Bernie Sanders over Hillary Clinton in 2016, and later declared that America had devolved from fully functioning democracy to “oligarchy.” Yet looking ahead to 2020, with Sanders running again, Carter warned Democrats not to “move to a very liberal program,” lest they help re-elect President Donald Trump. Carter scolded the Republican for his serial lies and threats to democracy, and chided the U.S. establishment for misunderstanding Trump’s populist appeal. He delighted in yearly convocations with Emory University freshmen, often asking them to guess how much he’d raised in his two general election campaigns. “Zero,” he’d gesture with a smile, explaining the public financing system candidates now avoid so they can raise billions. Carter still remained quite practical in partnering with wealthy corporations and foundations to advance Carter Center programs. Carter recognized that economic woes and the Iran crisis doomed his presidency, but offered no apologies for appointing Paul Volcker as the Federal Reserve chairman whose interest rate hikes would not curb inflation until Reagan's presidency. He was proud of getting all the hostages home without starting a shooting war, even though Tehran would not free them until Reagan's Inauguration Day. “Carter didn’t look at it” as a failure, Alter emphasized. “He said, ‘They came home safely.’ And that’s what he wanted.” Well into their 90s, the Carters greeted visitors at Plains’ Maranatha Baptist Church, where he taught Sunday School and where he will have his last funeral before being buried on family property alongside Rosalynn . Carter, who made the congregation’s collection plates in his woodworking shop, still garnered headlines there, calling for women’s rights within religious institutions, many of which, he said, “subjugate” women in church and society. Carter was not one to dwell on regrets. “I am at peace with the accomplishments, regret the unrealized goals and utilize my former political position to enhance everything we do,” he wrote around his 90th birthday. The politician who had supposedly hated Washington politics also enjoyed hosting Democratic presidential contenders as public pilgrimages to Plains became advantageous again. Carter sat with Buttigieg for the final time March 1, 2020, hours before the Indiana mayor ended his campaign and endorsed eventual winner Joe Biden. “He asked me how I thought the campaign was going,” Buttigieg said, recalling that Carter flashed his signature grin and nodded along as the young candidate, born a year after Carter left office, “put the best face” on the walloping he endured the day before in South Carolina. Never breaking his smile, the 95-year-old host fired back, “I think you ought to drop out.” “So matter of fact,” Buttigieg said with a laugh. “It was somehow encouraging.” Carter had lived enough, won plenty and lost enough to take the long view. “He talked a lot about coming from nowhere,” Buttigieg said, not just to attain the presidency but to leverage “all of the instruments you have in life” and “make the world more peaceful.” In his farewell address as president, Carter said as much to the country that had embraced and rejected him. “The struggle for human rights overrides all differences of color, nation or language,” he declared. “Those who hunger for freedom, who thirst for human dignity and who suffer for the sake of justice — they are the patriots of this cause.” Carter pledged to remain engaged with and for them as he returned “home to the South where I was born and raised,” home to Plains, where that young lieutenant had indeed become “a fellow citizen of the world.” —- Bill Barrow, based in Atlanta, has covered national politics including multiple presidential campaigns for the AP since 2012.
NonePresident-elect Donald Trump’s nominee to oversee the Drug Enforcement Administration (DEA), Republican Florida Sheriff Chad Chronister, announced Tuesday on social media that he will withdraw his name following an online backlash. Over the weekend, Trump announced he would tap Chronister to lead the DEA, stating that the Florida sheriff would join Attorney General nominee Pam Bondi to “secure the Border, stop the flow of fentanyl, and other illegal drugs across the Southern Border.” However, just a day after the announcement, conservatives online pushed back against the nomination, pointing to Chronister’s track record during the COVID-19 lockdowns. Chronister posted on X Tuesday afternoon, revealing that despite the nomination being “the honor of a lifetime,” he is withdrawing his name as there is “more work” in “Hillsborough County.” (RELATED: RFK Jr. Wants Fluoride Out Of Water — And It’s Not Nearly As Crazy As His Detractors Claim) “To have been nominated by President-Elect @realDonaldTrump to serve as Administrator of the Drug Enforcement Administration is the honor of a lifetime. Over the past several days, as the gravity of this very important responsibility set in, I’ve concluded that I must respectfully withdraw from consideration,” Chronister said. READ: To have been nominated by President-Elect @realDonaldTrump to serve as Administrator of the Drug Enforcement Administration is the honor of a lifetime. Over the past several days, as the gravity of this very important responsibility set in, I’ve concluded that I must respectfully... pic.twitter.com/bvNF8m9Bh4 — Chad Chronister (@ChadChronister) December 3, 2024 “There is more work to be done for the citizens of Hillsborough County and a lot of initiatives I am committed to fulfilling,” Chronister said. “I sincerely appreciate the nomination, outpouring of support by the American people, and look forward to continuing my service as Sheriff of Hillsborough County.” Conservatives online criticized Chronister’s nomination, with many pointing to how he approved the arrest of local Tampa Bay church pastor Dr. Rodney Howard-Browne on two second-degree misdemeanors for unlawful assembly and violation of public health emergency rules. According to a press release from the Hillsborough County Sheriff’s Office in March 2020, Chronister said that while authorities “would never impede on someone’s ability to lean on their religious beliefs as a means of comfort,” those practicing their beliefs must do so “safely.” “His reckless disregard for human life put hundreds of people in his congregation at risk and thousands of residents who may interact with them this week in danger,” Chronister said. “The River at Tampa Bay has an advantage over most places of worship, because they have access to technology that allows them to live stream their services over the internet and broadcast television for the more than 4,000 members to watch from the safety of their homes.” However, not all were opposed to the Florida sheriff’s nomination. While colleagues praised the pick, Howard-Browne also released a video with the sheriff, calling him a friend and endorsing Chronister to lead the DEA. “Yes, I did get arrested during COVID, but we’ve always been friends and we remain friends today,” Howard-Browne said in a video posted to X Sunday evening. All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org .
No. 1 South Carolina women stunned by fifth-ranked UCLA 77-62, ending Gamecocks' 43-game win streakQuest Partners LLC trimmed its holdings in Onto Innovation Inc. ( NYSE:ONTO – Free Report ) by 39.4% during the third quarter, Holdings Channel reports. The institutional investor owned 2,313 shares of the semiconductor company’s stock after selling 1,506 shares during the quarter. Quest Partners LLC’s holdings in Onto Innovation were worth $480,000 as of its most recent SEC filing. Other hedge funds have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. boosted its position in shares of Onto Innovation by 42.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 288,215 shares of the semiconductor company’s stock valued at $59,821,000 after buying an additional 85,790 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Onto Innovation by 3.4% during the 3rd quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company’s stock worth $52,637,000 after acquiring an additional 8,456 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Onto Innovation by 32.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,041 shares of the semiconductor company’s stock worth $424,000 after acquiring an additional 502 shares during the last quarter. ING Groep NV bought a new stake in shares of Onto Innovation in the 3rd quarter worth $11,893,000. Finally, Zions Bancorporation N.A. raised its holdings in shares of Onto Innovation by 18.2% in the third quarter. Zions Bancorporation N.A. now owns 15,330 shares of the semiconductor company’s stock valued at $3,182,000 after purchasing an additional 2,361 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds. Insider Activity at Onto Innovation In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink . 0.72% of the stock is currently owned by corporate insiders. Wall Street Analyst Weigh In Read Our Latest Stock Analysis on ONTO Onto Innovation Price Performance Shares of ONTO opened at $166.29 on Friday. Onto Innovation Inc. has a 1 year low of $134.11 and a 1 year high of $238.93. The stock’s fifty day moving average price is $194.17 and its two-hundred day moving average price is $204.80. The firm has a market cap of $8.21 billion, a PE ratio of 45.07, a PEG ratio of 1.07 and a beta of 1.37. Onto Innovation ( NYSE:ONTO – Get Free Report ) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year. About Onto Innovation ( Free Report ) Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements. Featured Articles Want to see what other hedge funds are holding ONTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Onto Innovation Inc. ( NYSE:ONTO – Free Report ). Receive News & Ratings for Onto Innovation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onto Innovation and related companies with MarketBeat.com's FREE daily email newsletter .OpenAI's legal battle with Elon Musk reveals internal turmoil over avoiding AI 'dictatorship'Threat of AI-Generated Deepfakes Remains Deep Rooted
The University of Colorado this week named Kenneth T. Christensen, provost of the Illinois Institute of Technology, as its Denver campus’s next chancellor following a national search. “This institution’s honorable mission of inclusive education and innovation was readily apparent to me during my interactions with the search committee and my campus visit, and this mission aligns with my own values and priorities as an academic leader,” Christensen said in a CU news release. “I am thrilled to join the University of Colorado as CU Denver’s next chancellor and to support the campus community in their transformative work to ensure and expand student success, scholarly impact and economic development.” As provost at Illinois Institute of Technology, Christensen launched academic initiatives around workforce readiness, created a pathway for undecided students to explore degree possibilities and charged a university-wide task force to modernize curriculum around the entrepreneurial mindset, design and innovation, computation and data literacy, and leadership, the news release said. Christensen’s Hispanic heritage contributed to his passion charting Illinois Tech’s path to becoming a Hispanic-serving Institution, CU officials said. He first joined Illinois Tech in 2020 as the Carol and Ed Kaplan Armour College Dean of Engineering. Before that, he was on the faculty at Notre Dame, the University of Illinois and the University of New Mexico. A native of Santa Fe, New Mexico, Christensen holds degrees from the University of New Mexico, the California Institute of Technology and the University of Illinois. Michelle Marks announced she would step down as CU Denver’s chancellor in August. Ann Schmiesing, vice chancellor for academic resource management at the University of Colorado Boulder, has been interim chancellor since then. Christensen begins his new role in February. “Dr. Christensen brings a deep commitment to CU Denver’s mission and student success as well as an impressive understanding of higher education’s ability to transform individual lives, our great state, the nation and the world,” CU President Todd Saliman said in a statement. “I was impressed by the strong support he received from CU Denver faculty, staff, students and community members following his campus visit and open forums. Dr. Christensen’s deep understanding of CU Denver’s unique opportunities make him the ideal person to lead the institution forward.”Shares of Invesco BulletShares 2025 Corporate Bond ETF ( NASDAQ:BSCP – Get Free Report ) saw unusually-high trading volume on Friday . Approximately 2,348,795 shares traded hands during trading, an increase of 180% from the previous session’s volume of 837,448 shares.The stock last traded at $20.65 and had previously closed at $20.64. Invesco BulletShares 2025 Corporate Bond ETF Stock Up 0.0 % The firm has a 50 day simple moving average of $20.65 and a 200-day simple moving average of $20.60. Invesco BulletShares 2025 Corporate Bond ETF Cuts Dividend The company also recently disclosed a dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 23rd were paid a dividend of $0.0697 per share. The ex-dividend date was Monday, December 23rd. Institutional Investors Weigh In On Invesco BulletShares 2025 Corporate Bond ETF Invesco BulletShares 2025 Corporate Bond ETF Company Profile ( Get Free Report ) The Invesco Bulletshares 2025 Corporate Bond ETF (BSCP) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of investment-grade corporate bonds with effective maturities in 2025. The fund will unwind in December 2025 and return capital and proceeds to investors. Further Reading Receive News & Ratings for Invesco BulletShares 2025 Corporate Bond ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco BulletShares 2025 Corporate Bond ETF and related companies with MarketBeat.com's FREE daily email newsletter .Melody Chen Unbabel chief executive Vasco Pedro predicts people will no longer be undertaking translation work in three years. The Portuguese startup, founded by the artificial intelligence expert, used its latest AI model to translate "Meditations" by Marcus Aurelius, with the results holding up well when compared to human translations. The archaic English used in the text posed a considerable challenge. Marcus Aurelius, the Roman emperor from 161 to 180 CE, wrote the book to record his private notes and ideas on Stoic philosophy. The model was also used to translate a wide range of content, from casual messages to complex legal documents. Pedro said that while AI has developed, human involvement currently remains essential for high-quality translation, which is why humans account for about 95 percent of the global translation industry. Experts in languages and specific fields like legal translators handling contracts currently perform better than machines. But Pedro still believes that it's hard to imagine AI won't completely surpass humans within two or three years. The godfather of AI, Geoffrey Hinton, warned that the pace of technological change is much faster than expected, and there is a 10 to 20 percent chance that artificial intelligence could lead to human extinction within the next 30 years. Hinton said that most experts believe AI that is more intelligent than humans will be developed within the next 20 years, which is a frightening prospect, and he called for stronger government regulation.
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As the new year dawns, investors will be awaiting eagerly to see if Lalatech, the parent of on-demand logistics and delivery platform Lalamove, goes ahead with a mega Hong Kong initial public offering after applying to list for a fourth time amid improved market sentiment. The company, which operates under the Huolala brand in mainland China, submitted its listing application in October, following previous attempts in April this year as well as November and March of 2023, after shifting its US$1 billion (HK$7.8 billion) listing plan from the US to Hong Kong in 2021. Founded in Hong Kong in 2013, Lalatech mainly operates as a marketplace, especially in intra-city freight markets, connecting merchants with carriers through an asset-light business model, meaning it does not own the vehicles used by carriers. Entering China and other markets in 2014, the company now is the world's largest logistics transaction platform by closed-loop freight gross transaction value or GTV in the first half of this year, with a market share of 53.9 percent, according to its preliminary prospectus, citing data from consultancy Frost & Sullivan. Mainland power Lalatech facilitated about 338 million orders with a freight GTV of US$4.6 billion in the first six months of the year. It had an average of 15.2 million monthly active merchants and 1.4 million monthly active carriers on its platform during this period. Despite its global presence in over 400 cities across 11 markets, over 90 percent of Lalatech's revenue still comes from mainland China. Its revenue grew 18 percent in the first half of 2024 to US$709 million, building on a 28.8 percent increase to US$1.3 billion for the full year in 2023. It has turned profitable after years of losses, which swung to a net profit of US$972.7 million in 2023, followed by a US$183.7 million net profit in the first half of 2024. The company attributed its profitability to an improved hybrid monetization model for its freight platform services, which accounted for 61.8 percent of its revenue in the first half of 2024. Initially reliant on carrier membership fees for revenue, Lalatech introduced commission fees in 2018 as its carrier base expanded. In Shenzhen, for example, it offers three membership tiers for carriers operating specific vehicle types. First-tier members, paying 239 yuan per month, enjoy a reduced commission rate of 14 percent compared to the 18 percent rate for non-members. The second tier, with a 539 yuan monthly fee, faces an 11 percent commission rate, while third-tier members, paying 789 yuan per month, see their rate drop to 8 percent. This hybrid monetization model has helped drive profitability by converting GTV growth into revenue growth, according to the company. Commissions as a percentage of freight platform services revenue in China increased from 11.7 percent in 2021 to 57 percent in 2023, rising further to 58.5 percent in 2024. However, questions remain about the sustainability of its model. Mainland regulators have summoned the company a dozen times in recent years over complaints related to payment delays for carriers, arbitrarily adjusted pricing rules, and high commission rates and membership fees, according to mainland media reports Lalatech's other revenue streams include a range of diversified logistics services like solutions to large enterprise merchants or home-moving services, which contributed 32 percent of revenue in the first half. The company has raised a total of US$2.66 billion in 11 financing rounds from big-name investors including Hillhouse Capital and HongShan, formerly known as Sequoia China. Other investors, such as Tencent (0700) hold small stakes. ENTREPRENEURIAL SPIRIT Founder and chairman Chow Shing-yuk, retains about 25 percent of Lalatech's shares along with his family trust, despite selling US$165 million worth of shares to investors in 2021 and 2022. Born in Guangdong province, Chow moved to Hong Kong as a child. Despite growing up in a humble wooden house as Chow recalled in an interview, he excelled academically, winning a scholarship to study in the US, where he studied economics at Stanford University. After university, Chow joined Bain & Company as a consultant but quickly left the corporate world to pursue an unconventional path, becoming a professional Texas Hold'em poker player. Chow was said to have amassed nearly HK$30 million in winnings during his time as a poker player, which provided part of the capital for his entrepreneurial ventures, which he described as "the biggest gamble of his life." Lalatech also repurchased US$65.2 million worth of shares from Chow in February last year, and based on that price, the company would be valued at US$9.8 billion, according to The Standard's calculation, down from a valuation of nearly US$13 billion for its 11th financing completed in early 2022. Whether Lalatech can maintain the latest valuation remains in doubt as peers such as GoGoX (2246) and Full Truck Alliance have both performed disappointingly after going public. Its smaller rival GoGoX shares prices have plunged by nearly 98 percent since its IPO in June 2022, resulting in a market capitalization of HK$282.82 million, compared to over HK$10 billion before listing. Its US-listed competitor Full Truck Alliance, which mainly focuses on inter-city freight services, also posted a 53 percent decline in prices since its listing in 2021. Full Truck's market cap now stood at US$9.3 billion. Lalatech plans to use the proceeds from the IPO to grow its core business and expand service offerings in China, accelerate global expansion, enhance technology infrastructure, and support working capital. Goldman Sachs, BofA Securities, and JP Morgan are joint sponsors for the proposed offering.NASA project NEOWISE ends after cataloging objects around Earth for over a decadeFounder of failed crypto lending platform Celsius Network pleads guilty to fraud charges
CHARLESTON, S.C. — Wyoming transfer Cam Manyawu scored 18 points on 8-of-11 shooting with 11 rebounds and Bennett Stirtz had 16 points and 11 assists to help Drake beat Vanderbilt 81-70 on Sunday night to win the Charleston Classic. Mitch Mascari made 4 of 6 from the field, 3 of 5 from 3-point range and 6 of 6 from the free-throw line to finish with 17 points for Drake (6-0) and Daniel Abreu scored 15. First-year coach Ben McCollum took over at Drake in April after Darian DeVries took the same job at West Virginia. McCollum brought Stirtz from Division-II Northwest Missouri State, where the 43-year-old coach had won at least 24 and qualified for the D-II NCAA Tournament in each of the past 11 seasons. Stirtz scored in the lane to give the Bulldogs the lead for good and spark an 18-8 spurt that made it 55-45 with 12 minutes to play. MJ Collins made two free throws and then hit a 3 to cut the deficit to five points about a minute later but Drake scored 12 of the next 15 points and the Commodores — who went 5-plus minutes without a made field goal — never again threatened. Vanderbilt (6-1) had won its first six games of a season for the first time since the Commodores won 16 in a row to open the 2007-08 campaign. Jason Edwards led Vanderbilt with 26 points on 7-of-13 shooting and made 10 of 11 from the free-throw line. Collins, A.J. Hoggard and Chris Manon added nine points apiece.
Van Nistelrooy’s first game in charge ended with a 3-1 win over West Ham, thanks to goals from Jamie Vardy, Bilal El Khannouss and Patson Daka. The Dutchman, who was out of work for just two weeks following his four-game spell as Manchester United interim boss, only started on Sunday so was happy to end a hectic three days in style. “It has been very busy getting to know everyone, start working together,” he said. “Everybody was involved with that and helping, it was busy, long days, but worth it. I was focused on the game and what the game needed, the subs, the half-time talk, so focused on the moment, so I am going to get myself a little beer and reflect on the last three days.” He endured a dream start as Vardy scored after just 98 seconds with El Khannouss and Daka adding second-half goals. It was by no means one-way traffic, though, as West Ham – who scored a consolation through Niclas Fullkrug at the death – had 30 shots on goal. But Van Nistelrooy saw enough to think he can deliver on his objective of keeping the Foxes in the Premier League. “I am very happy, if you look at the result – and it is about the result – it was a great night, three points, three good goals and also very effective. Ruud at the wheel 🛞 pic.twitter.com/eVgIwWAcYw — Leicester City (@LCFC) December 3, 2024 “Overall the game of course we have seen and how dominant West Ham were at certain stages and what they created, that is a fact and something we have to look at. “Overall, what I expected of the players going forward was togetherness and hunger, energy and spirit in this team that is fighting for every inch. “Eleven players on the pitch who are fighting as a foundation to play the rest of the Premier League. I saw that completely with every single player that started and came on. “That’s the foundation we have to build on, without that it will be impossible to get where we want to go. I am very happy about that.” West Ham’s hierarchy will have seen what impact a managerial change can have as the jury remains out on Julen Lopetegui, with away fans making their feelings clear by chanting “You’re getting sacked in the morning”. Lopetegui expects to keep his job but forthcoming games against his former club Wolves, Bournemouth, Brighton and Southampton could determine the Spaniard’s future. “The only thing that I am worried about is to go to training session tomorrow and stand up the players and prepare the next challenge,” he said. “We have one month of December with a lot of matches and I am sure with this attitude we are going to achieve many more points. “I believe in the players. I am confident that tomorrow we are going to be ready to prepare the next match. “Understanding the question, but at the end of the season maybe we talk in another way. There are a lot of matches and points, a lot of things can happen. “I believe in these players and team, I am sure the position is going to be much better. They are only words but we have to work a lot to achieve this.”Map Shows Worst States for Retirement
Jimmy Carter: His life milestones and notable quotesFormer U.S. President Jimmy Carter has died. He was 100 years old and had spent more than a year in hospice care. The Georgia peanut farmer served one turbulent term in the White House before building a reputation as a global humanitarian and champion of democracy. He defeated President Gerald Ford in 1976 promising to restore trust in government but lost to Ronald Reagan four years later amid soaring inflation, gas station lines and the Iran hostage crisis. He and his wife, Rosalynn Carter, then formed The Carter Center, and he earned a Nobel Peace Prize while making himself the most active and internationally engaged of former presidents. The Carter Center said the former president died Sunday afternoon in Plains, Georgia.
Supreme Court will take up a challenge related to California's tough vehicle emissions standardsA cafe has been put up for sale just six months after opening its doors. Eatery, on Minard Road in the , has hit the market for offers over £35,000. The business opened in March, but announced on social media they were to temporarily close on October 27 for "important maintenance" and would re-open 'soon'. It now appears those plans have been dashed, with the cafe being offered for sale. According to the advert, it seats 18 people and has a class 1 use - serving coffee alongside a 'modern menu'. The reads: "The Business Sales Agency is pleased to bring to the market this excellent opportunity to acquire a popular café in the densely populated Shawlands area of Glasgow’s South Side. "Bright spacious recently refurbished unit with front seating and counter area with kitchen and toilet to the rear. This is an excellent opportunity to acquire a popular café in the densely populated Shawlands of Glasgow’s South Side. "Shawlands attracts a healthy mix of students, young professionals and families which enjoy its active café culture. With a large number of residents working on a hybrid basis and from home it provides a regular customer base for sit in and delivery trade. "With its fresh décor and open plan layout this business is ideally suited to both daytime and early evening custom."
Cheers and beers for Ruud van Nistelrooy as Leicester reign starts with win
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