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Former Labour Deputy Prime Minister John Prescott passed away at the age of 86 yesterday (November 20) after a battle with Alzheimer's. In a statement, his family said: "We are deeply saddened to inform you that our beloved husband, father and grandfather, John Prescott, passed away peacefully yesterday at the age of 86. "He did so surrounded by the love of his family and the jazz music of Marian Montgomery. "John spent his life trying to improve the lives of others, fighting for social justice and protecting the environment, doing so from his time as a waiter on the cruise liners to becoming Britain’s longest serving Deputy Prime Minister." Reminded of Prescott's hilarious appearance on Top Gear. Fearlessly goes up against the live audience to bat for the M4 bus lane. pic.twitter.com/7CiCSLTcEa — max tempers (@maxtempers) November 21, 2024 An experienced politician known for his fiery temper and no-nonsense attitude, Lord Prescott frequently clashed with those on the other side of the political spectrum. After the news of his death spread, an interview with former Top Gear presenter Jeremy Clarkson resurfaced on X, formerly known as Twitter. Back in 2011, Prescott was a guest on the Star in a Reasonably Priced Car segment of the popular BBC2 show. Prescott was booed when he made his entrance and on more than one occasion got to his feet to remonstrate with the Top Gear audience following Clarkson's provocation. "Punching a protester and calling it “connecting with the electorate” is quality" Largely, the M4 lane that Prescott created in 1999. Known to some at the time as Prescott's Folly. "What in the name of all that's holy were you thinking when you said 'let's put a bus lane on the M4'," asked Clarkson. To which Prescott replied: "I'm going to introduce you to a revolutionary thought. You can go slower and you can get there quicker and that's to do with flow." Throughout the interview, Prescott and Clarkson butted heads continuously, even to the point where the former said: "Hold on, just give your b***** brain a chance," to Clarkson's annoyance. Users in the comments were impressed by the interview. Recommended reading: Tony Blair leads tributes to John Prescott after his death aged 86 Former Deputy Prime Minister John Prescott dies aged 86 Alastair Campbell issues emotional tribute to John Prescott One said: "What is interesting about this clip is even though he and @JeremyClarkson plainly disagree and the audience are largely with Clarkson there is none of the toxicity which is the legacy of Brexit, Johnson and 14 years of Tory chaos. We must re learn how to disagree without hatred". Another recalled a Prescott quote: "Punching a protester and calling it “connecting with the electorate” is quality". Whilst someone else commented: "A great video and actually just a sensible chat between the two - feisty but also fair. Current government would benefit from some of the more common sense direct communication Prescott brings to manage some of the misinformation that currently does the rounds."WINNIPEG - Manitoba Premier Wab Kinew offered condolences Monday to the families affected by two fatal police shootings in the province and spoke to the challenge faced by officers on the front lines. “I want to take the opportunity to thank police officers across this province who go to work and keep us safe each and every day,” Kinew said while at the convention for the Association of Manitoba Municipalities. The night before, a street standoff involving police left one man dead and an officer recovering from a stab wound to the throat. Kinew told reporters no one wants to see a person die after an altercation with police but officers are often tasked with responding to high-risk situations. “Police officers have a difficult job to do, that’s at the best of times, so I support law enforcement,” he said. “When we’re thinking about the holidays and people going to the malls and people going to the shopping areas around the province, people have got to be safe.” Police were called early Sunday evening to the Unicity shopping area in the city’s far west about an officer who had been stabbed in the throat and a suspect who had been shot. Acting police Chief Art Stannard later told reporters that officers had been in the area as part of a retail theft initiative, which sees police work in hot spots in the city that have seen a rise in retail theft and violent crime. Police said the man who was shot was given CPR at the scene before he was taken to hospital, where he was pronounced dead. They said the injured officer was also transported to hospital and treated for his injury. Police declined to provide more details about what happened, including the age or identity of the man killed, noting the case is being reviewed by the police watchdog agency — the Independent Investigation Unit of Manitoba. The agency confirmed it’s investigating the death of the man but did not provide any other details. Videos circulating on social media appear to show a man being shot outside a bus shelter. In a 24-second clip, two police officers tell a person “to put it down” and “to drop it.” The man appears to advance toward the officers and at least one officer begins shooting. It’s not clear in the video whether the man who was shot was holding a weapon. Stannard told reporters Sunday he’s aware of the video and asked the public to avoid rushing to judgment. Coun. Markus Chambers, chair of the Winnipeg Police Board, said Sunday’s incident is tragic for all involved and noted it could renew calls for the board to implement body cameras. “Body-worn cameras likely wouldn’t have resulted in this not happening, but it is a mechanism of looking at the accountability around what happened,” Chambers said. The councillor said the board would be monitoring the rollout of body cameras in RCMP detachments across the province to see if they’re effective. It was the second fatal police shooting in three days. A 17-year-old boy from Norway House Cree Nation was shot and killed by an RCMP officer on Friday. Mounties said they received a report that a man was agitated and armed with an edged weapon in a home on the First Nation, north of Winnipeg. RCMP said the teen was outside with the weapon when officers arrived and, despite numerous orders to drop it, he moved toward them and was shot. This report by The Canadian Press was first published Nov. 25, 2024.
AI Will Soon Be Deciding What They Want to Do, Society Must Consider “Unplugging It” – Eric Schmidt
In the aftermath of the incident, experts have weighed in on the risks and consequences of attempting to deceive customs officials, emphasizing the importance of honesty and transparency when traveling internationally. While the allure of evading customs duties and regulations may be tempting, the potential repercussions of getting caught far outweigh any perceived benefits.After spending ten long years behind bars, finally, the day had come for the prisoner to taste freedom once again. With his heart pounding in his chest and his mind racing with a mix of emotions, he walked out of the prison gates, his eyes squinting against the bright sunlight. And as soon as his feet touched the ground outside, he broke into a run – a run towards the unknown, a run towards a new beginning.
Figure 1 Site Rendering of NOVONIX’s New Facility BRISBANE, Australia, Dec. 17, 2024 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the Company”), a leading battery materials and technology company, announced today a conditional commitment to NOVONIX through one if its wholly-owned U.S.-based subsidiaries (“Borrower”), from the U.S. Department of Energy (“DOE”) through the Loan Programs Office (“LPO”) for a direct loan of up to US$754.8 million ($692 million in principal and $62.8 million in capitalized interest) to be applied towards partially financing a proposed new facility in Chattanooga, Tennessee (the “New Facility”). The proposed financing is being offered under the DOE LPO’s Advanced Technology Vehicles Manufacturing (“ATVM”) Loan Program. If finalized, the loan would be applied towards partially financing the construction of the New Facility in Chattanooga, Tennessee, to manufacture synthetic graphite primarily for use in electric vehicle (“EV”) batteries. At full capacity, the new facility is expected to produce approximately 31,500 tonnes per annum (“tpa”) of synthetic graphite, which can support the production of lithium-ion batteries for approximately 325,000 EVs each year. China currently has over 95% market share for battery grade graphite 1 . The new facility is expected to reach full production capacity by the end of 2028 and is anticipated to create 450 full-time operational jobs and 500 construction jobs. Dr. Chris Burns, CEO of NOVONIX said, “This announcement is the culmination of years of hard work and is another critical milestone for our anode materials business towards our target production of 150,000 tpa in North America. This conditional commitment from the government to invest in our new facility continues to underscore the focus on localizing critical materials in the battery supply chain, such as graphite. Recent announcements from China to further scrutinize the export of battery-grade graphite to the United States highlight the importance of domestic production of high-performance, battery-grade synthetic graphite. Our offtake agreements with strong partners have strengthened our leadership in onshoring the synthetic graphite supply chain in North America and supporting the path towards U.S. energy independence.” This year, NOVONIX has signed binding offtake agreements to supply synthetic graphite to Panasonic Energy 2 , Stellantis 3 , and PowerCo 4 . To meet this demand, the Company has previously discussed plans to build a new facility in the southeastern United States which could expand up to 75,000 tpa or production capacity. This proposed ATVM Program loan would support the construction of the first phase of the New Facility and the initial production capacity of 31,500 tpa. NOVONIX plans to subsequently expand the production capacity of this site to its target of 75,000 tpa of synthetic graphite production, any such expansion being dependent on customer demand and access to additional financing. NOVONIX’s Riverside facility, also located in Chattanooga, is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. It is slated to begin commercial production in 2025, with plans to grow output to 20,000 tpa to meet current customer commitments. Previously, the Company announced that the DOE’s Office of Manufacturing and Energy Supply Chains (“MESC”) awarded the Company a US$100 million grant 5 and that it was selected for a US$103 million investment tax credit 6 towards the funding of the Riverside facility. Key terms of the DOE’s conditional commitment, including those set forth in a non-binding term sheet attached to the conditional commitment letter signed by the DOE, NOVONIX and the Borrower, include: The loan is for a maximum amount of US$754.8 million, which includes up to US$692.0 million in principal and up to US$62.8 million in capitalized interest and will be structured in two tranches based on a phased completion of infrastructure and production lines from a total eligible investment of US$943.6 million. The loan will be comprised of two primary tranches that will have terms of 15 years and 10 years, respectively, from the date of first payment of each. The first tranche will be to support the site and infrastructure for the New Facility and 21,000 tpa of production capacity, while the second tranche will support an additional 10,500 tpa of production capacity. An additional tranche to fund eligible project costs will be subject to repayment upon receipt of any proceeds derived from the monetization of any tax credit received by the Company or the Borrower related to the New Facility under the Qualifying Advanced Energy Project Allocation Program. The loan will be guaranteed by the Company and secured by a first priority security interest in all assets of the Borrower, equity interests in and, with certain exceptions, assets of certain of NOVONIX’s existing subsidiaries. Each advance of loan proceeds will have a separate interest rate set by the Federal Financing Bank under the general supervision of the Secretary of Treasury at the time that the respective advance is made. While this conditional commitment demonstrates DOE’s intent to finance the New Facility, DOE must complete an environmental review, and the Company must satisfy certain technical, commercial, legal, environmental, and financial conditions before DOE can decide whether to enter into definitive financing documents and fund the loan. A binding loan agreement from DOE is also subject to the satisfactory completion of due diligence by DOE, satisfaction of conditions precedent specified in the term sheet, approval of the NOVONIX Board, receipt of required governmental and third-party consents, and the negotiation and execution of binding loan documents. Once binding loan documents have been signed, NOVONIX and the Borrower will need to satisfy certain conditions precedent prior to loan closing, and / or prior to first and subsequent advances of loan proceeds. This announcement has been authorised for release by Admiral Robert J Natter, USN Ret., Chairman. About NOVONIX NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future. To learn more, visit us at www.novonixgroup.com or on LinkedIn and X . For NOVONIX Limited Scott Espenshade, ir@novonixgroup.com (investors) Stephanie Reid, media@novonixgroup.com (media) Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements we make regarding our target production capacity and commencement of commercial production at our Riverside facility, our plans to build a new production facility and achieve initial and total production capacities, and our efforts to finance this new production facility with a loan from the LPO. We have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of our furnace technology, our ability to meet the technical specifications and demand of our existing and future customers, the accuracy of our estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and our compliance with the applicable terms of government support, including the DOE MESC grant and, if a definitive agreement is executed and the loan is funded, the LPO loan, our ability to satisfy the conditions precedent to our entering into definitive loan documents and to the DOE’s funding the LPO loan and, if the loan is obtained, our ability to comply with the restrictions and obligations under the loan documents, our ability to obtain patent rights effective to protect our technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory developments in the United States, Australia and other jurisdictions. These and other factors that could affect our business and results are included in our filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting our Investor Relations website at www.novonixgroup.com or the SEC’s website at www.sec.gov. Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law. 1 Benchmark Minerals Intelligence Anode Price Assessment September 2024 2 Panasonic Energy and NOVONIX Sign Binding Off-Take Agreement - NOVONIX 3 NOVONIX and Stellantis Sign Binding Offtake Agreement - NOVONIX 4 NOVONIX and PowerCo SE Sign Binding Offtake Agreement - NOVONIX 5 NOVONIX Finalizes US$100 Million Grant Award from U.S. Department of Energy - NOVONIX 6 U.S. Government Selects NOVONIX to Receive US$103 Million in Qualifying Advanced Energy Project Tax Credits - NOVONIX A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9a660b84-f19e-4636-b981-d532b2029ace
FREMONT, Calif.--(BUSINESS WIRE)--Dec 23, 2024-- Nextracker (Nasdaq: NXT) announced today that Dan Shugar, Founder and CEO, will participate in a fireside chat at the Goldman Sachs Energy, CleanTech & Utilities Conference. The session is scheduled for 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on Tuesday, January 7, 2025. Live webcast will be available on investors.nextracker.com . The webcast replay will be available on the Nextracker IR website following the conclusion of the event. About Nextracker Nextracker is a leading provider of intelligent, integrated solar trackers, foundations, and software solutions used in ground-mounted utility-scale and distributed generation solar projects around the world. Our products enable solar PV power plants to follow the sun’s movement across the sky and optimize plant performance. With power plants operating in more than forty countries worldwide, Nextracker offers solar tracker technologies that increase energy production while reducing costs for significant plant ROI. For more information, please visit Nextracker.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241223929273/en/ CONTACT: Investor Contact: Sarah Lee Investor@nextracker.comMedia Contact: Brandy Lee Media@nextracker.com KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: UTILITIES ENVIRONMENT TECHNOLOGY ALTERNATIVE ENERGY GREEN TECHNOLOGY ENERGY SOFTWARE SOURCE: Nextracker Copyright Business Wire 2024. PUB: 12/23/2024 04:05 PM/DISC: 12/23/2024 04:04 PM http://www.businesswire.com/news/home/20241223929273/en
It took billions of dollars in losses, a company-wide overhaul, cost-cutting and price hikes to get there, but Bob Iger and Walt Disney Co. appear to have reached a long-awaited turning point in the streaming business. Disney direct-to-consumer operations — a combination of Disney+, Hulu and ESPN+ — have been profitable two straight quarters, helping to drive earnings that topped Wall Street expectations. The Burbank, Calif.-based entertainment giant last week said its streaming trifecta produced fiscal fourth quarter operating income of $321 million, swinging from a $387 million loss reported at the same time a year ago. Full-year operating profit for the direct-to-consumer group came in at $134 million, compared with fiscal 2023’s $2.6-billion loss. Disney+ added 4.4 million subscribers to reach 120 million accounts globally in the fourth quarter. It’s a far cry from just a few months ago, when Iger was the focus of a nasty proxy campaign from activist shareholder Nelson Peltz , the billionaire founder of the investment firm Trian Fund Management. One of Peltz’s demands was that Disney show a realistic plan to achieve Netflix-like profit margins from streaming. Now, Disney and Iger are showing signs of renewed swagger. The stock is up 25 percent so far this year, though it still isn’t as high as it was in April, when Iger defeated Peltz in the hedge fund agitator’s quest to win a board seat. Disney’s fourth quarter earnings were also buoyed by a strong showing from its resurgent film studios, which put out big hits with “Deadpool & Wolverine” and “Inside Out 2.” In an unusual flex for Disney, the company on Thursday surprised analysts by giving earnings guidance for the next three years. Not just 2025 and 2026, but the following fiscal year as well. The company is projecting a “double digit” increase in adjusted earnings per share in 2027, as Iger prepares to hand off the baton to a yet-to-be determined successor. Notably, 2027 is after Iger is expected to exit as chief executive, so the fact that the company is giving his replacement a financial target, however vague, caught several observers’ attention.”We’re not sure the incoming CEO will appreciate having their hands tied in that way,” TD Cowen analyst Doug Creutz wrote in a note to clients. Disney also must contend with issues that continue to weigh on all legacy media companies, including the volatility of the film business and especially the erosion of traditional TV networks. Fourth-quarter sales from Disney’s linear networks business fell 6 percent to $2.5 billion, while profits from the unit dropped 38 percent to $498 million. Revenue at ESPN, reporting under the separate “sports” segment, was up 1% with profit falling 6 percent. The company’s parks business, long a huge driver of results, faces an uncertain macroeconomic environment with a new incoming administration, as well as competition from the upcoming Epic Universe park in Florida (which Disney has downplayed). In sports, the company still has to successfully launch its flagship ESPN streaming service next year. So what’s giving Disney the self-assuredness to give out these targets? Disney executives, speaking on last week’s earnings call, cited several reasons to believe in the company’s forecasts, including steady improvement in the streaming business and considerable investment in experiences such as the parks and cruise lines . With streaming in particular, Disney was remarkably specific in its guidance for 2026. For example, executives said that Disney+ and Hulu would achieve 10 percent operating margins by then, excluding the Hulu Live TV streaming offering. Management highlighted changes and improvements the company is making to its services: anti-password sharing measures, better personalization and customization technology, adding an ESPN tile, etc. All this ought to allow Disney to improve engagement, increase subscriptions, reduce churn, please advertisers and raise prices. “We wouldn’t have given you the guidance we did if we didn’t have confidence in delivering,” Disney Chief Financial Officer Hugh Johnston said on the call. Disney’s results are just one sign of a broader rebound for streaming, at least among the top-tier companies. Netflix is making billions of dollars in profit, with a stock market valuation of $362 billion (significantly higher than Disney’s $206-billion market cap). Spotify, the Swedish music and podcast subscription service, recently projected it would reach full year profitability for the first time. With Disney, there are always risks to point to. The studio, which is having a strong year, has a number of high-stakes bets coming up next year, including multiple Marvel movies (“Captain America: Brave New World,” “Thunderbolts,” “The Fantastic Four: First Steps”) a live action “Snow White” and a nonsequel Pixar film, “Elio.” But none of that will take up as much investor attention as the ongoing succession process for Iger, which is being led by James P. Gorman, the outgoing executive chairman of Morgan Stanley, who will become chairman of Disney’s board of directors next year. Disney recently said it would choose a successor in early 2026 , which is later than many expected. The Wall Street Journal reported that the search for a replacement had widened beyond the oft-discussed quartet of internal candidates to include outsiders such as the chief executive of video game giant Electronic Arts, Andrew Wilson. Whoever gets the job, the pressure will be high, with or without the company’s earnings projections hanging over them.
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