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Dollar stores face major headwind from the Trump administration
In 2020, a conspiracy theory spread across social media claiming that online home goods retailer Wayfair was involved in child trafficking . People claimed that odd pricing and certain product names were evidence of the theory. VERIFY reader Leslie emailed us to ask if Wayfair was ever involved in the sex trafficking of children. Is Wayfair involved in the sex trafficking of children? National Center on Sexual Exploitation DeliverFund , a nonprofit intelligence agency that uses technology to help law enforcement fight human trafficking Polaris , organization that operates the U.S. National Human Trafficking hotline Original VERIFY reporting in 2020 Statement from Wayfair to the BBC in 2020 No, there is no evidence to support the claims that Wayfair was involved in the sex trafficking of children. When the conspiracy theory first spread in 2020, people on social media pointed to Wayfair products with strange names and disproportionately high prices as proof that the online furniture store was involved in child trafficking. These products included a “Samiyah Storage Cabinet” priced at over $14,000 and a “Duplessis Zodiac Sign Astrological Constellation Personalized Throw Pillow” at $9,999. At the time, people claimed that these products shared the names of girls that were reported missing. The theory followed that the products had high prices because they were fronts for selling the missing girls. Wayfair told the BBC in 2020 that the prices were accurate for the industrial grade cabinets and were the result of a glitch in the case of the pillows. The viral social media posts frequently linked products to girls who were no longer missing. Multiple anti-trafficking groups said the claims were unproven and likely false. “We believe that the accusations being leveled against Wayfair regarding sex trafficking are lacking credibility in significant ways and, in many places, demonstrably false,” the National Center on Sexual Exploitation said at the time. In 2020, VERIFY found that the family of Samara Duplessis, a missing girl purportedly linked to the overpriced pillows, reported she was back home a couple of months before the Wayfair conspiracy became widespread. When VERIFY searched Wayfair for “Duplessis” products in 2020, we found the name attached to a number of different items that were considerably less expensive than the pillow. When VERIFY searched Wayfair’s site again on Dec. 2, 2024, we found it’s using the “Duplessis” name for at least one product, a rug selling for $144.99 , years after the missing girl was found. As for the reference to the cabinets in the original rumors, people claimed that there was a missing teenager from Ohio named Samiyah, too. But VERIFY was unable to find any evidence that a girl by that name was missing, and a teenager some people believed to be Samiyah refuted that she was missing in a video posted to her Facebook account. Wayfair told the BBC in 2020 that the expensive cabinets were “industrial size,” meant for business or commercial use and that the $14,000 price point was accurate. “We have temporarily removed the products from our site to rename them and to provide a more in-depth description and photos that accurately depict the product to clarify the price point,” Wayfair told the BBC in 2020. Another example of a missing teenager’s name possibly matching a Wayfair product was Mary Durrett to a Durrett coffee table. But she went missing in 2017 and was found safe two days after she was first reported missing. The claim connecting her to the coffee table listing was posted three years later. Many anti-trafficking organizations addressed the rumors in 2020. They all said the claims lacked credibility. “We identified early on that this was a likely hoax or a case of overexuberance by someone who did not have the expertise and data-driven approach that DeliverFund has,” Michael Fullilove, chief of operations for DeliverFund , a nonprofit intelligence agency that uses technology to help law enforcement fight human trafficking, said in 2020. “Based on the original source of the information, we were able to use open source intelligence techniques to determine that it was highly unlikely that the trafficking of children was taking place through the sale of expensive items on Wayfair,” Fullilove said. Polaris , which operates the U.S. National Human Trafficking Hotline, said the claims were unsubstantiated and did more harm than good. People overwhelmed the hotline to make reports related to the conspiracy, increasing wait times and potentially denying trafficking victims from reaching the hotline. The theory also resulted in harassment and privacy intrusions of people mistakenly believed to be victims, as well as broad sharing of online sexual abuse material of real victims never connected to the Wayfair conspiracy, Polaris said. Polaris pointed out that trafficking is rarely perpetrated by a total stranger who kidnaps children and is instead usually perpetrated by people the victims know or even love and trust. Scenarios where the trafficker locks up or imprisons the victim with literal shackles make up a minority of trafficking cases despite it being the common public perception of trafficking, the National Center on Sexual Exploitation said. Traffickers usually groom their victims and keep them captive through forms of psychological abuse, manipulation and coercion that can be difficult to identify. There are real cases in which sex trafficking is perpetrated online, usually through prostitution sites and pornography websites, according to the National Center on Sexual Exploitation. The National Center on Sexual Exploitation said in 2020 that traffickers were increasingly using “popular social media apps such as Instagram, Snapchat and TikTok to identify, groom and exploit children in the online space.” Anti-trafficking organizations say that sharing viral, unsubstantiated trafficking rumors online is generally unhelpful to trafficking victims. What’s more helpful, these organizations say , is to learn how to identify real, common cases of trafficking to spot victims who need help. VERIFY reached out to Wayfair for comment but did not receive a response by the time of publication.There are already plenty of reasons to be wary of Kash Patel becoming FBI director — one of which is his status among believers of QAnon Patel has long thirsted to purge the federal government of the so-called “Deep State,” as have MAGA conspiracy theorists who are now hailing Donald Trump ’s nomination of Patel to fill a role where he would be well positioned to exact vengeance on the president-elect’s enemies. According to posts and social media clips that have resurfaced in the aftermath of Patel’s nomination, the prospective FBI director has frequently lauded QAnon believers and embraced their messaging. The unfounded, pro-Trump conspiracy theory holds that the United States is run by a cabal of Satan-worshipping pedophiles, and that Trump is a messianic figure who will eradicate this evil from the government. Media Matters Senior Researcher Alex Kaplan identified social media posts by Patel in which he uses QAnon imagery, and bragged about his supposed meetings with “@Q,” a Truth Social account created shortly after the platform’s launch that has suspected links to Truth Social’s developers. In 2022, Patel even signed copies of his pro-Trump children’s book The Plot Against The King 2,000 Mules , with the phrase “WWG1WGA,” a QAnon slogan meaning “where we go one, we go all.” (Patel claimed the slogan was simply something that resonated with him from an old movie.) The book is an election-denying sequel to his first pro-Trump children’s book, repackaging Dinesh D’Souza’s debunked conspiracy film 2,000 Mules for toddlers. On Monday, D’Souza issued a public apology to a man who sued him for defamation after the film accused him of being a “mule” who stuffed ballot boxes to rig the election against Trump, and acknowledged that the “data” film had used as the basis for its allegation of electoral fraud was bunk. In April 2022, Patel went on a media tour of QAnon-affiliated podcasts and digital shows to promote Truth Social — where he is a board member — to prospective new users. In one interview, Patel said that “whether it’s the Qs of the world — and I agree with some of what he does and I disagree with some of what he does — if it allows people to gather and focus on the truth and the facts, I’m all for it.” Editor’s picks The 100 Best TV Episodes of All Time The 250 Greatest Guitarists of All Time In a separate June 2022 interview, Patel explained his overtures to the Q community. “We try to incorporate it into our overall messaging scheme to capture audiences because whoever that person is has certainly captured a widespread breadth of the MAGA and the America First movement,” he said. “And so what I try to do is — what I try to do with anything, Q or otherwise, is you can’t ignore that group of people that has such a strong dominant following.” “Q has been so right on so many things,” Patel added. “He should get credit for all the things he has accomplished, because it’s hard to establish a movement, let’s call it that, because it’s what it is. And he’s put out so many names, you know, not just mine, but he’s put out so many great American figures who have been out there like the Johnny Ratcliffes of the world, the Whitakers, the Grenells — all these folks that were in the Trump administration that people barely knew about, they know in large part because he was able to put out their work.” Patel also said in an interview that he was “blown away at the amount of acumen some of these people,” referring to QAnon adherents. Media Matters notes that in the aftermath of Patel’s nomination, prominent influencers within the Q ecosphere have been celebrating his prospective ascension as the coming of “an FBI Director who sees the Q movement in a positive light,” as one post put it. Related Content Hegseth Allegedly Chanted 'Kill All Muslims!' While Leading Vets Group Bernie Sanders Agrees With Elon Musk on Slashing the Pentagon's Budget DACA Recipients Concerned for Their Future Under Trump GOP Sen. Hagerty on Kash Patel Leading FBI: 'I Look Forward to Him Taking It Apart' On Sunday, retired Gen. Michael Flynn — who has become a major proponent of the conspiracy — responded to another QAnon influencer’s post celebrating Patel’s appointment with “Yup💯.” The post Flynn responded to contained a screenshot of a Q post telling followers that Kashyap Patel was a “name to remember.” It’s not hard to understand why the QAnon community is high on Patel. A fierce critic of the 2016 Russian election meddling investigation, Patel has long sought retribution against the “Deep State,” and has spoken publicly about prosecuting Trump’s political rivals and critics in the media. “We’re going to come after you,” Patel explained to Steve Bannon last December. “Whether it’s criminally or civilly, we’ll figure that out. But yeah, we’re putting you all on notice, and Steve [Bannon], this is why they hate us. This is why we’re tyrannical. This is why we’re dictators.” It’s a promise that cuts to the core of what QAnon believers desire.
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The retail sector is winding down a year filled with financial distress marked by several establishments filing for Chapter 11 protection. Party City revealed on Dec. 20 that it was closing all stores and going out of business, and then filed Chapter 11 bankruptcy on Dec. 21. That retail collapse came a day after home goods retailer Big Lots, which already filed Chapter 11 bankruptcy on Sept. 9, revealed on Dec. 19 that it would begin going-out-of-business sales at all remaining store locations in the coming days after a proposed sale agreement with stalking-horse bidder Nexus Capital Management collapsed. Discount retailer 99 Cents Only also collapsed months earlier as it filed for Chapter 11 bankruptcy on April 8, 2024, liquidated and closed down all 371 locations in Arizona, California, Nevada, and Texas. The Container Store is another home goods retailer facing severe economic problems. The retailer faced a recent financial dilemma when potential investment partner Beyond revealed in a statement on Nov. 20 that it had concerns about a proposed $40 million investment in the retail chain after the home goods retailer had not been able to secure additional financing acceptable to Beyond. Midvale, Utah-based Beyond, which owns online retailers Overstock, Bed Bath & Beyond, Baby & Beyond, and Zulily, on Oct. 15, 2024, reached a $40 million securities purchase agreement with The Container Store Group Inc. that required the home goods retailer to secure new financing on terms commercially acceptable to Beyond as a condition to closing. Under the agreement, Beyond has the right to determine in its sole discretion the adequacy of The Container Store’s financing arrangements. In the November statement, Beyond said “the proposed financing terms we have reviewed to date fall short of what we believe is necessary to complete the transaction. As careful stewards of our shareholders’ capital, we must remain steadfast in ensuring that the terms of any financing package work for both The Container Store and Beyond.” Under the agreement, The Container Store needed to obtain acceptable financing by Jan. 31, 2025, or Beyond could cancel the deal. NYSE delisted The Container Store The situation worsened for The Container Store on Dec. 9 when the New York Stock Exchange delisted and immediately suspended the trading of the retailer’s common stock, according to an NYSE statement. It seemed like that the Beyond deal was not going forward, and The Container Store needed proceed in a different direction. The Container Store files for Chapter 11 bankruptcy Struggling home goods retailer The Container Store Inc. and four affiliates filed for Chapter 11 bankruptcy on Sunday to restructure its debts with a prepackaged reorganization plan that will recapitalize the company and hand ownership of the company to its term loan lenders as a going concern. The Coppell, Texas, debtor hopes to complete the reorganization and exit bankruptcy in 35 days. Under the plan, the debtor’s lenders will provide the company with a $115 million debtor-in-possession financing and exit loan package, which includes $40 million in new money and a rollup of $75 million in prepetition debt in exchange to 100 percent new equity interest in the reorganized company, subject to dilution. The debtor said that 90 percent of its term loan lenders supported the transaction support agreement. It said that trade vendors and all other general unsecured creditors would be paid or compensated in full in the reorganization plan. The Container Store listed $969.2 million in assets and $836.3 million in debts in its petition filed on Dec. 22. The debtor, which was founded in 1978 and operates 102 stores in 34 states, specializes in storage and organization supplies, including closet and shelving systems. The debtor blamed its financial distress on reduced consumer spending on storage and organization products, fewer home sales, effects from inflation, the post-Covid-19 winddown and intense competition, according to a declaration filed by Chief Restructuring Officer Chad E. Coben.
This year was a mixed bag for the large automakers, with sales in the US climbing and prices holding steady for the most part. But changes are coming for the industry — whether on the domestic front with a new administration or the threat of cheaper, foreign competition. S&P Global Mobility projects US sales will hit a seasonally adjusted annual rate (SAAR) of 16.2 million units in 2025, an estimated increase of 1.2% from a projected 16.0 million units in 2024, which S&P says still reflects an uncertain environment for auto sales in the US. "Vehicle pricing levels are expected to decline but remain high; interest rates are expected to shift further downwards, but inflation levels are anticipated to remain sticky, and new vehicle inventory should also progress, but careful management is expected too,” said Chris Hopson, manager of North American light vehicle sales forecasting for S&P Global Mobility, in its 2025 report. With that said, let’s take a look at what to expect from major automakers in the US next year, starting with the big three. Click here for Yahoo Finance's Tesla 2024 year in review and 2025 look ahead. The biggest of the Big Three experienced a strong 2024 with robust sales of its generally higher-priced vehicles, like trucks, SUVs, and EVs. GM ( GM ) shareholders were rewarded with the stock up 25% for the year, buoyed by GM’s aggressive accelerated share repurchase (ASR) programs, a type of buyback. GM announced a $6 billion ASR in June of this year, following a $10 billion ASR in November of 2023. After a Q3 in which GM said it took market share, the rest of the year was set up for success. GM said its inventory stood at around 627,000 vehicles entering Q4, which is around 50 to 60 days of supply entering a typically busy holiday period, and incentives in Q3 were 4.5% of average transaction price, which the automaker said was 2% below the industry. New EVs are coming in 2025, with the Cadillac Vistiq, Optiq, Escalade IQ, and Chevrolet Bolt EV. This comes after the company refreshed the Chevy Equinox and Traverse, GMC Acadia and Terrain, and Buick Enclave. But GM might have some issues with its EVs if the tax credit goes away under the Trump administration. “If those EV models, specifically for GM, because they made some launches that are doing fairly well in the past three months — if they're not eligible for tax credits next year, it is going to impact their ability to scale and ultimately our growth assumption,” S&P Global autos sector lead Nishit Madlani told Yahoo Finance. Despite a strong year, the company had some late-year surprises, like a $5 billion write-down in China and a wind-down of its Cruise robotaxi business. Investors will be keeping an eye on those two stories as 2025 progresses. GM’s archrival, Ford, is coming off a good sales year too. But all has not been well for the Dearborn, Mich.-based automaker. The company had to scale back its profit outlook for 2024 due to supplier issues and is still losing billions of dollars in its EV business. The company canceled an upcoming three-row EV SUV and pushed back the opening of a new EV plant, opting to focus instead on smaller EVs for the future, such as a compact-style pickup it says is coming next decade. With the cash cow F-150 pickup and Expedition full-size vehicles updated in 2024, Ford’s 2025 will consist of updates to the Mustang and Ford Transit commercial van along with the release of the $300,000 Mustang GTD supercar . The company has seen sales jump for its hybrid offerings like the Maverick pickup, F-150 hybrid PowerBoost models, and Escape CUV, and will continue to shift production toward those units. Wall Street is looking for better execution from Ford as well as cost discipline. “There are indications that the profit story for them is not trending in the direction we had expected a year ago, when we raised them to investment rate,” Madlani said. “They had some warranty costs. They had some supplier stability issues that we haven't seen at other automakers. So that's why there's some questions internally around execution from the management team there as well.” Ford will give a full update on its EV business outlook and profitability in the first half of 2025 . The situation isn’t much better at Stellantis, which has Dodge, Ram, Jeep, Chrysler, Fiat, and others in its portfolio. A management shake-up will bring a new CEO in 2025 and a revamped plan for its automobiles and trucks. The delayed EV push for the automaker will see changes as well, with gas-powered cars joining the ranks of EVs, which will share the same platform . This comes after sales slumped for the automaker , with inventory building up and dealers having to slash elevated prices to move vehicles off the lots. “We’re grinding through a transition,” CFO Doug Ostermann said following the release of disappointing Q3 sales. For 2025 the company has promised lower prices for its existing models, like Jeep SUVs, with the addition of engine choices like V6s and V8s for customers who did not want to see those powertrain choices go away. And new models are on the way too. In terms of new product launches, the all-electric Dodge Charger Daytona is coming with a gas-powered version as well, an all-electric Jeep Wagoneer S is on the roster, and the Ram 1500 Ramcharger range-extended hybrid pickup will be pushed forward to 2025 , jumping ahead of the all-electric Ram REV EV pickup. It should be noted that the Ram trucks were supposed to arrive in 2024. While S&P’s Madlani notes Stellantis has seen some improvement in terms of inventory management, there are deeper issues to work through, such as its mismanagment of production and demand in the first place. S&P ratings has a negative outlook on Stellantis at the moment. The world’s largest automaker — and the Big Three's biggest competitor — is having a banner year in the US, with year-to-date sales through Q3 up 5.5% and its “electrified vehicle” sales up a whopping 58% year to date. Powering those electrified sales are its Camry hybrids, RAV4 hybrid crossover, and even the new Tacoma that comes in mild hybrid form. And, of course, the Prius — the hybrid king that came to US shores 20 years ago is still setting the pace for hybrid sales. This year, Toyota went all out in the US with an all-new Camry and Tacoma pickup, two of its major volume sellers. It also relaunched the Landcruiser SUV and brought out minor updates to the Corolla, Sienna, and Crown, to name a few. Coming in 2025 is the new 4Runner, a midsize go-anywhere SUV with a devoted following that will be coming with — you guessed it — a hybrid powertrain. Toyota says hybrids are what Americans want , and pickup and SUV offerings like the Tacoma and 4Runner will cater to that demand. One note of caution for Toyota is the coming merger of Honda and Nissan . While the situation won’t likely change much in the near term (with the deal looking to close in 2026), it will allow the two Japanese automakers to match Toyota in size. “There is potential for a merged company to be better prepared to address the competitive threat from the newer players, as well as to be more competitive with Toyota,” S&P Global Mobility analyst Stephanie Brinley said in a note published earlier this month. Germany’s Volkswagen ( VWAGY ), once the crown jewel of the country’s automotive sector and formerly the world’s No. 1 automaker, had a rough year. The company’s slump in important regions like Europe (with threats of a major labor strike averted for the time being) and China is a major problem, and development difficulties with its in-house software and EV development have led to costly delays. The situation in China, once a top region for the company, isn’t going to get better anytime soon, even with a new joint venture partner coming . However, the US region has actually improved , with sales growing for the Atlas SUV, Tiguan crossover, and even Jetta sedan. Meanwhile, the company’s sole EV offering — the ID.4 — has seen sales cut by half in Q3, and the ID.Buzz van just went on sale, with a costly starting price of about $60,000. Another concern: There are no hybrids on offer at the moment in the US, a big miss considering their popularity. VW says the upcoming all-new Tiguan in 2025 won’t have hybrid power until 2026 at the latest, which is a concern as it is VW’s top seller in the US. The full-size Atlas won’t get hybrid power until 2026, either. VW’s big bet on electrification remains with EVs at the moment, which could be a tough sell. With most of its current models updated or refreshed last year or this fall with the 2025 model year, VW does not at the moment have anything big planned for next year. In fact, VW’s biggest new push in the US is with Scout Motors , its wholly owned startup that will make EV and hybrid versions of SUV and pickup adventure vehicles using Rivian tech. But those vehicles won’t be in showrooms until 2027 at the earliest, which means VW will have to power through with its current portfolio through 2025 and beyond. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo FinanceAtmos Energy Corp. stock underperforms Friday when compared to competitors
SWEDESBORO, N.J.--(BUSINESS WIRE)--Dec 5, 2024-- Wedgewood Equine, a dedicated division of Wedgewood , the nation’s largest provider of compounded veterinary medications, is excited to unveil Blue Rabbit for equine veterinarians at this year’s American Association of Equine Practitioners (AAEP) 70 th Annual Convention. As the premier event for equine veterinary professionals, AAEP sets the stage for the launch of this innovative platform, which builds on the success of Blue Rabbit’s companion animal debut earlier this year at VMX. Blue Rabbit revolutionizes equine care by empowering veterinarians with tools and services to optimize their on-the-go practices. The platform features dynamic, mobile online prescribing and prescription management that provides comprehensive online pharmacy capabilities and direct-to-barn deliveries , making it easier than ever to serve clients and care for equine patients. Visit us at Booth #681 to learn more and take advantage of an exclusive, limited-time special offer on compounded medications, only available at AAEP. Jackie Bernard, Wedgewood’s VP of Sales, Equine & Special Markets, stated, "We are excited to introduce Blue Rabbit to the equine veterinary community at AAEP. This platform is more than just a tool—it's a transformative solution designed to simplify operations, enhance patient care, and strengthen the bond between veterinarians and their clients. We can't wait to see how Blue Rabbit empowers equine practitioners to elevate their practices and deliver exceptional care to their patients." Blue Rabbit: Empowering Equine Veterinarians With its innovative tools and services, Blue Rabbit simplifies the complexities of equine veterinary practice while enhancing patient outcomes: Giving Back to the Equine Community Wedgewood Equine is proud to support the equine veterinary community through two impactful charitable initiatives: Introducing New Innovations for Equine Care At AAEP, Wedgewood will debut several new compounded medications tailored to equine practitioners, including: A Coast-to-Coast Network for Equine Compounding Wedgewood Equine is strengthened by the integration of Bakersfield, CA-based Precision Equine , which fully integrated with Wedgewood earlier this year, and Wickliffe Veterinary Pharmacy in Lexington, KY, part of Wedgewood since 2023. Together, these three pharmacies form the largest coast-to-coast compounding network for equine veterinarians , ensuring unparalleled service and access to critical medications nationwide. Join Us at AAEP Experience the innovation of Blue Rabbit and the expertise of Wedgewood Equine firsthand. Stop by booth #681 to explore new products, meet our team, and discover how Wedgewood Equine is redefining veterinary compounding for equine professionals. About Wedgewood: Wedgewood is the nation’s largest and most trusted provider of compounded veterinary medications. Its merger with Blue Rabbit enables the company to provide veterinarians with a next-generation delivery platform to streamline patient care and marks a significant evolution in services. Together, Blue Rabbit and Wedgewood serve more than 70,000 veterinary professionals and more than one million animals annually. For more information or to schedule a press interview with the Wedgewood team at AAEP, contact: Meg Thomann, Communications Director, mthomann@wedgewood.com View source version on businesswire.com : https://www.businesswire.com/news/home/20241205946476/en/ Meg Thomann, Communications Director, mthomann@wedgewood.com KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY INDUSTRY KEYWORD: RETAIL DATA MANAGEMENT TECHNOLOGY PHARMACEUTICAL OTHER CONSUMER GENERAL HEALTH ONLINE RETAIL PETS OTHER TECHNOLOGY VETERINARY SOFTWARE NETWORKS CONSUMER INTERNET HEALTH SOURCE: Wedgewood Copyright Business Wire 2024. PUB: 12/05/2024 03:44 PM/DISC: 12/05/2024 03:45 PM http://www.businesswire.com/news/home/20241205946476/enMoney Research Collective’s editorial team solely created this content. Opinions are their own, but compensation and in-depth research determine where and how companies may appear. Many featured companies advertise with us. How we make money . By Kat Tretina MONEY RESEARCH COLLECTIVE December 5, 2024 China is a powerful force to be reckoned with. According to Safeguard Global, the country has the second largest economy based on its gross domestic product, which stands at $14.7 trillion in 2024. China’s role as an economic powerhouse is particularly evident through the lens of the global gold market, in which the nation plays a substantial role. China is the largest producer of gold in the world, and there is also significant demand within the country for gold jewelry and other products, which drives consumption. What’s driving China’s role in the gold market ? There are several factors, including cultural traditions, manufacturing needs and concerns about investments. China’s history with gold China has a long relationship with gold . Its use in the country dates back to the Han dynasty as early as 206 BC, and it’s since been used as currency, for making jewelry and even as part of worship. In 1978, when China re-entered the international economy and resumed trade with other countries, the gold market shifted. China transformed into an industrial powerhouse, and gold played a major role; along with jewelry, gold is frequently used in the creation of electronics, medical devices and in the automotive industry. In 1983, China allowed its citizens to own gold — private gold ownership was previously prohibited — and it created the Shanghai Gold Exchange, major milestones for the gold industry. Those changes began China’s transition to a gold superpower, as the government accumulated its gold reserves and gold mining within the country accelerated. China and gold: its impact today China is a huge presence in the gold market for both production and consumption: China is responsible for about 11% of global gold production, making it the largest producer of gold in the world. In fact, since it overtook South Africa for the lead in 2007, it has dominated the gold production market. According to Mining Technology, there are over 1,300 gold mines in the world, and China operates 117 of them. In 2023, China produced 370 tons of gold. To put that in perspective, that’s more than double the gold production of the U.S. The five largest mines in the country include: Gold is an important part of China’s economy, particularly in the manufacturing industry. China’s chief exports are electronics, machinery and vehicles — all segments that require gold. The Central Bank of China has been buying gold to bolster its reserves, moving its reserves away from traditional assets like U.S. Treasury debt. Its accumulation of gold has helped drive the price of gold . In China, gold was traditionally a common gift, particularly for brides, new parents and for the Lunar New Year, which helped drive its jewelry market. However, as the country has become richer and its citizens more wealthy, purchasing gold for personal use or investments is increasingly common as a status symbol. Right now, China is facing some issues with deflation , meaning prices across the economy have dropped. Combined with a volatile stock market and difficult real estate market, gold can be an appealing alternative for investors . Gold as an investment is particularly popular among young adults interested in alternative assets. Gone are the days when investors needed thousands of dollars or Chinese Yuan to purchase gold; today, Chinese investors can buy “gold beans” — as the name implies, small nuggets of gold — that cost less than $100 per bean. Gold beans have gone viral on Chinese social media platforms like Weibo, and mainstream jewelry stores have addressed the trend by selling gold beans in glass jars in their stores. In fact, Chinese consumers between the ages of 18 and 24 are more likely to purchase pure gold than any other age group, according to a report by the Chow Tai Fook Jewellery Group. The increased demand for gold as an investment — and the availability of smaller, more accessible gold for investing — played a major role in China’s gold rush, with gold premiums reaching a then-all-time high in 2023. Outlook for China’s gold market Although the gold industry in China is still booming, there are some signs it’s cooling down. Record-high gold prices may have affected consumers, as gold jewelry sales dropped significantly in October 2024. China saw a slight decrease in gold production; for the first three quarters of 2024, its total production dropped by -1.17%. If gold prices remain high, that could continue the downward trend of jewelry sales, but it could increase the demand for gold for investments. How China’s gold market can affect you Because of China’s significant presence in the gold industry, many economists believe that gold prices and demand are affected not by the economy, but by Chinese investors themselves. With so many Chinese investors and consumers purchasing gold, it has markedly increased demand for the precious metal, which subsequently drives up prices. If you’re looking to invest in gold , China’s gold industry and its outlook is encouraging. However, it’s always important to diversify your portfolio so your investments aren’t concentrated in a single asset class. If you do invest in precious metals, investing in traditional securities — such as stocks, bonds, mutual funds or ETFs — can give you a well-rounded portfolio.
Albury councillor Kylie King will soon no longer jointly host radio 2AY's breakfast show. or signup to continue reading Station owner Ace Radio has decided not to renew King's contract beyond December 20, which means will be the solo announcer in 2025 for the program, which is also broadcast on Wangaratta's 3NE. Company chief executive Mark Taylor cited the business environment, with media companies under pressure from online giants and advertising tight, as the reason for the decision. "It's purely economic that we're pulling down to a one-person breakfast show," Mr Taylor said. "It's an amicable departure. "Kylie has been a contractor, she hasn't been an employee and I'm sure we'll do work with Kylie again in the future." Mr Taylor said it "absolutely" was a hard decision, having known King since they worked together in Gippsland radio decades ago. "We're not one of those companies that take these things lightly or do it on the spot, that's why Kylie was told some weeks ago and she's working up to the Christmas period," he said. "I'm sure in the future there will be a place for her in our sports coverage but right now we need to tighten the belt." She teamed up with and they then went on to become councillors and and Wodonga, respectively, while on-air. "I'm disappointed and quite sad," King said. "It's been a wonderful opportunity to connect with the audience for six years. "To have so many loyal listeners choosing to spend their mornings with Kev Poulton and I and now Matt Griffith has been a privilege that's not lost on me. "The COVID lockdowns, when I was broadcasting from home while Kev was in the studio remain a powerful memory of the importance of those local connections and telling and sharing the stories of our community. "With a background in journalism I have always been interesting in unearthing stories and talking to people from diverse backgrounds from politicians to sports people, community members, volunteers and listeners. "I thank the management of 2AY for the opportunity over these past six years - it's been a blast." Radio 2AY station manager Andrew Harrison lauded King's ability to balance on-air duties with mayoral duties from 2022 to September this year. "She's just such a professional performer, particularly having a role as mayor as well as broadcaster, which was not an easy thing, but she did it with professionalism and grace," Mr Harrison said. Mr Taylor said the exit of King was "definitely not" a prelude to a networked breakfast show. In 2020, DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily! Advertisement AdvertisementBaurs celebrates 127 years of progressive growth and innovation
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AUSTIN, TEXAS / ACCESSWIRE / December 2, 2024 / Monogram Technologies Inc. (NASDAQ:MGRM) ("Monogram" or the "Company"), an AI-driven robotics company focused on improving human health with an initial focus on orthopedic surgery, today announced completed purchases of MGRM common stock on the open market by certain related parties including Chief Financial Officer Noel Knape, totaling approximately $1 million. Additional details can be found on the Form 8-K filed today by the Company under Item 8.01 Other Events. "Our senior management team has purchased shares in the open market, reflecting high confidence in our strategy and expectation to create long-term shareholder value," said Ben Sexson, Chief Executive Officer of Monogram. "With the funding secured from our recent offering, we are optimistic about our ability to reach our key milestones in the months ahead."
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Agreement includes collaborative research and development centered on Honeywell Anthem avionics, selection of more powerful engines, and next-generation satellite communications technologies for Bombardier aircraft Aftermarket offerings and new technologies provide Honeywell revenue potential of up to $17 billion over life of agreement All legacy pending litigation between the companies has been resolved CHARLOTTE, N.C. , Dec. 2, 2024 /PRNewswire/ -- Honeywell HON announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies. The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life. "This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur , Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition." "This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel , President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them." Honeywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine. "Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight," said Jim Currier , President and CEO of Honeywell Aerospace Technologies. "We are committed to investing in these key technologies with Bombardier, which will not only drive substantial growth for Honeywell, but lead the industry further into the future of aviation." As part of the partnership, Bombardier and Honeywell will work together to certify and offer JetWave X for the Bombardier Global and Challenger families of aircraft for both new production and aftermarket installations. Bombardier will also have access to Honeywell's full suite of next generation L-Band satellite communications products and antennas that will provide future safety services capabilities. Additionally, all legacy pending litigation between the companies has been resolved. Honeywell Updates 2024 Outlook While the commercial agreement impacts near-term Honeywell financials, the company is confident it will lead to long-term value creation for Honeywell shareowners. Given the required investments associated with this agreement, Honeywell has updated its full-year sales, segment margin 2 , adjusted earnings per share 2,3 , and free cash flow guidance 1 . A summary is provided in the table below. TABLE 1: FULL-YEAR 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $38.6B - $38.8B ($0.4B) $38.2B - $38.4B Organic 1 Growth 3% - 4% ~(1%) ~2% Segment Margin 2 23.4% - 23.5% (0.8 %) 22.6% - 22.7% Expansion 2 Down 10 - Flat bps (80 bps) Down 90 - 80 bps Adjusted Earnings Per Share 2,3 $10.15 - $10.25 ($0.47) $9.68 - $9.78 Adjusted Earnings Growth 2,3 7% - 8% (5 %) 2% - 3% Operating Cash Flow $6.2B - $6.5B ($0.4B) $5.8B - $6.1B Free Cash Flow 1 $5.1B - $5.4B ($0.5B) $4.6B - $4.9B TABLE 2: FOURTH QUARTER 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $10.2B - $10.4B ($0.4B) $9.8B - $10.0B Organic 1 Growth 2% - 4% (4 %) (2%) - Flat Segment Margin 2 23.8% - 24.2% (2.9 %) 20.9% - 21.3% Expansion 2 Down 60 - 20 bps (290 bps) Down 350 - 310 bps Adjusted Earnings Per Share 2,3 $2.73 - $2.83 ($0.47) $2.26 - $2.36 Adjusted Earnings Growth 2,3 1% - 5% (17 %) (16%) - (12%) 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Segment margin and adjusted EPS are non-GAAP financial measures. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from certain items excluded from segment margin or adjusted EPS. We therefore, do not present a guidance range, or a reconciliation to, the nearest GAAP financial measures of operating margin or EPS. 3 Adjusted EPS and adjusted EPS V% guidance excludes items identified in the non-GAAP reconciliation of adjusted EPS at the end of this release, including the impact of amortization expense for acquisition-related intangible assets and other acquisition-related costs, and any potential future items that we cannot reliably predict or estimate such as pension mark-to-market. Bombardier, Global and Challenger are trademarks of Bombardier Inc. or its subsidiaries. Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom . Honeywell uses our Investor Relations website, www.honeywell.com/investor , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: Segment profit, on an overall Honeywell basis; Segment profit margin, on an overall Honeywell basis; Organic sales growth; Free cash flow; and Adjusted earnings per share. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business. Honeywell International Inc. Definition of Organic Sales Percent Change We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Operating Income to Segment Profit, Calculation of Operating Income and Segment Profit Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2023 Operating income $ 1,583 $ 7,084 Stock compensation expense 1 54 202 Repositioning, Other 2,3 569 952 Pension and other postretirement service costs 3 17 66 Amortization of acquisition-related intangibles 76 292 Acquisition-related costs 4 1 2 Segment profit $ 2,300 $ 8,598 Operating income $ 1,583 $ 7,084 ÷ Net sales $ 9,440 $ 36,662 Operating income margin % 16.8 % 19.3 % Segment profit $ 2,300 $ 8,598 ÷ Net sales $ 9,440 $ 36,662 Segment profit margin % 24.4 % 23.5 % 1 Included in Selling, general and administrative expenses. 2 Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. 3 Included in Cost of products and services sold and Selling, general and administrative expenses. 4 Includes acquisition-related fair value adjustments to inventory. We define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle, and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2024(E) 2023 2024(E) Earnings per share of common stock - diluted 1 $ 1.91 $2.03 - $2.13 $ 8.47 $8.76 - $8.86 Pension mark-to-market expense 2 0.19 No Forecast 0.19 No Forecast Amortization of acquisition-related intangibles 3 0.09 0.17 0.35 0.50 Acquisition-related costs 4 — 0.02 0.01 0.10 Divestiture-related costs 5 — 0.04 — 0.04 Russian-related charges 6 — — — 0.03 Net expense related to the NARCO Buyout and HWI Sale 7 — — 0.01 — Adjustment to estimated future Bendix liability 8 0.49 — 0.49 — Indefinite-lived intangible asset impairment 9 — — — 0.06 Impairment of assets held for sale 10 — — — 0.19 Adjusted earnings per share of common stock - diluted $ 2.69 $2.26 - $2.36 $ 9.52 $9.68 - $9.78 1 For the three months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 660.9 million. For the twelve months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 668.2 million. For the three and twelve months ended December 31, 2024, expected earnings per share utilizes weighted average shares of approximately 653 million and 655 million, respectively. 2 Pension mark-to-market expense uses a blended tax rate of 18%, net of tax benefit of $27 million, for 2023. 3 For the three and twelve months ended December 31, 2023, acquisition-related intangibles amortization includes $62 million and $231 million, net of tax benefit of approximately $14 million and $61 million, respectively. For the three and twelve months ended December 31, 2024, expected acquisition-related intangibles amortization includes approximately $110 million and $330 million, net of tax benefit of approximately $30 million and $85 million, respectively. 4 For the three and twelve months ended December 31, 2023, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $2 million and $7 million, net of tax benefit of approximately $0 million and $2 million, respectively. For the three and twelve months ended December 31, 2024, the expected adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $20 million and $65 million, net of tax benefit of approximately $5 million and $15 million, respectively. 5 For the three and twelve months ended December 31, 2024, the expected adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, is approximately $25 million, net of tax benefit of approximately $5 million. 6 For the three and twelve months ended December 31, 2023, the adjustments were a benefit of $2 million and $3 million, without tax expense, respectively. For the twelve months ended December 31, 2024, the expected adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company's suspension and wind down activities in Russia. 7 For the the twelve months ended December 31, 2023, the adjustment was $8 million, net of tax benefit of $3 million, due to the net expense related to the NARCO Buyout and HWI Sale. 8 Bendix Friction Materials ("Bendix") is a business no longer owned by the Company. In 2023, the Company changed its valuation methodology for calculating legacy Bendix liabilities. For the three and twelve months ended December 31, 2023, the adjustment was $330 million, net of tax benefit of $104 million, (or $434 million pre-tax) due to a change in the estimated liability for resolution of asserted (claims filed as of the financial statement date) and unasserted Bendix-related asbestos claims. The Company experienced fluctuations in average resolution values year-over-year in each of the past five years with no well-established trends in either direction. In 2023, the Company observed two consecutive years of increasing average resolution values (2023 and 2022), with more volatility in the earlier years of the five-year period (2019 through 2021). Based on these observations, the Company, during its annual review in the fourth quarter of 2023, reevaluated its valuation methodology and elected to give more weight to the two most recent years by shortening the look-back period from five years to two years (2023 and 2022). The Company believes that the average resolution values in the last two consecutive years are likely more representative of expected resolution values in future periods. The $434 million pre-tax amount was attributable primarily to shortening the look-back period to the two most recent years, and to a lesser extent to increasing expected resolution values for a subset of asserted claims to adjust for higher claim values in that subset than in the modelled two-year data set. It is not possible to predict whether such resolution values will increase, decrease, or stabilize in the future, given recent litigation trends within the tort system and the inherent uncertainty in predicting the outcome of such trends. The Company will continue to monitor Bendix claim resolution values and other trends within the tort system to assess the appropriate look-back period for determining average resolution values going forward. 9 For the twelve months ended December 31, 2024, the expected impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business is $37 million, net of tax benefit of $11 million. 10 For the twelve months ended December 31, 2024, the expected impairment charge of assets held for sale is $125 million, with no tax benefit. Note: Amounts may not foot due to rounding. We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow (Unaudited) Twelve Months Ended December 31, 2024(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Capital expenditures ~(1.2) Free cash flow ~$4.6 - $4.9 We define free cash flow as cash provided by operating activities less cash for capital expenditures. We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 (704) 627-6200 stacey.jones@honeywell.com sean.meakim@honeywell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/honeywell-and-bombardier-sign-landmark-agreement-to-deliver-the-next-generation-of-aviation-technology-honeywell-updates-2024-outlook-302320054.html SOURCE Honeywell © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.MMA Healthcare Recruitment Marks 23 Years with Launch of Digital Innovation 12-02-2024 11:56 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: Authority Press Wire International healthcare specialist MMA Healthcare Recruitment hits major milestone and unveils Welcome Professionals platform to modernise medical recruitment. Image: https://authoritypresswire.com/wp-content/uploads/2024/12/MMA-Healthcare-Recruitment-Marks-23-Years-with-Launch-of-Digital-Innovation.png Surrey, UK - Twenty-three years after placing its first international nurse in a UK hospital, MMA Healthcare Recruitment has grown from a small startup into a respected name in global healthcare staffing. As the firm marks this milestone, it's introducing new technology to improve industry efficiency. Since 2001, MMA has helped more than 11,500 healthcare professionals start new lives in Britain. The company's founder, Melinda Moolman, established the business following her own experience as an international nurse from South Africa. "The healthcare recruitment landscape has evolved dramatically over the past two decades," says Moolman. "What hasn't changed is the human element - every healthcare professional who makes this journey needs genuine support and understanding." Over two decades, MMA has built comprehensive support services covering everything from visa applications to cultural adaptation, moving beyond traditional recruitment practices. Industry analysts have noted these services' positive impact on staff retention rates. Today, MMA runs recruitment hubs in Germany, India, South Africa and Ireland, working with healthcare employers across the UK. The company has built strong partnerships throughout Europe, including Portugal, Spain and Romania. This expansion reflects the growing demand for international healthcare talent in Britain's healthcare sector. Welcome Professionals, MMA's latest development, represents a new chapter in healthcare recruitment. This digital platform helps employers streamline both domestic and international recruitment. Built on MMA's twenty-three years in the industry, Welcome Professionals provides tools for every stage of recruitment - from candidate selection to staff integration. The service offers different tiers of support, allowing employers to select services based on their needs. It handles all aspects of recruitment, from talent sourcing through to staff integration and ongoing support, while meeting industry standards and regulatory requirements. Beyond recruitment, MMA participates in social responsibility initiatives, including B1G1 and runs the MMA Recycle Swop Shop programme, showing its commitment to community development. Healthcare employers can learn more about Welcome Professionals at: https://app.smartsheet.eu/b/form/f0637ddc0f664571b68a6b291334ccf2 Healthcare professionals seeking international opportunities should visit: https://app.smartsheet.eu/b/form/baa053ddd9c54a1ca5120ea1cf0586ca About MMA Healthcare Recruitment: From its Surrey headquarters, MMA Healthcare Recruitment has been placing international healthcare professionals in UK positions since 2001. The company uses its experience and knowledge to deliver results for both healthcare employers and job seekers. Video: https://www.youtube.com/embed/qzhF-084eO8?rel=0&modestbranding=0&rel=0&showinfo=1&controls=1&autohide=2&showinfo=0?ecver=2 Video Link: https://www.youtube.com/embed/qzhF-084eO8 Location Info: MMA Healthcare Recruitment, 81 St Judes Road, Englefield Green, Surrey TW20 0DF, 01189879240 Media Contact Company Name: MMA Healthcare Recruitment Contact Person: Bruce Roworth Email: Send Email [ http://www.universalpressrelease.com/?pr=mma-healthcare-recruitment-marks-23-years-with-launch-of-digital-innovation ] Phone: +441189879240 Country: United Kingdom Website: https://mmarecruitment.com This release was published on openPR.
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