646jili login

Argentina’s Racing wins its first Copa Sudamericana championship by beating Brazil’s Cruzeiro 3-1Is Taiwan Semiconductor’s Stock on the Decline? You Won’t Believe What Analysts Are Saying
Ski and Snowboard Club Vail alumnus posts top American time on day 1 of Birds of Prey World Cup downhill training
Resettlement of TTP militants: Nation, army paying in blood for one man's errorProducts linked to McGregor dropped from about 1,000 stores as retailer boycott intensifies
Trump's tariff threat a grim reminder of turbulent trade in first administration WASHINGTON — Donald Trump threatened the United States's closest neighbours with big tariffs this week, in a move that has reminded many of the unpredictable tactics the president-elect deployed during his first tenure in the White House. Kelly Geraldine Malone, The Canadian Press Nov 26, 2024 1:06 PM Nov 26, 2024 1:20 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message President-elect Donald Trump gestures after speaking during an America First Policy Institute gala at his Mar-a-Lago estate, on Nov. 14, 2024, in Palm Beach, Fla. THE CANADIAN PRESS/AP, Alex Brandon WASHINGTON — Donald Trump threatened the United States's closest neighbours with big tariffs this week, in a move that has reminded many of the unpredictable tactics the president-elect deployed during his first tenure in the White House. Trump said Monday he would use an executive order to impose 25 per cent tariffs on all goods coming from Canada and Mexico until the two countries stop drugs and migrants from illegally crossing the U.S. border. The announcement, made on Truth Social, brought swift responses from officials and industry in both countries who are bracing for chaos during Trump's second tenure. He has long used the threat of import taxes to pressure other countries to do his bidding, saying this summer that "the most beautiful word in the dictionary is 'tariff.'" It's unlikely the move would violate the Canada-U.S.-Mexico Agreement, which was negotiated during the first Trump administration. Laura Dawson, an expert on Canada-U. S. relations and the executive director of the Future Borders Coalition, said the president can impose tariffs under his national security powers. This type of duty has a time limit and can only be made permanent through Congressional approval, but for Trump, national security powers are like a "get out of jail free card," Dawson said. "This is exactly what happened in the last Trump administration," Dawson said. "Everyone said, 'Well, that is ridiculous. Canada is the U.S.'s best security partner. What do you mean our steel and aluminum imports are somehow a source of insecurity?'" But within the global trade system, she said, no country challenges another's right to define their own national security imperatives. Trump's first administration demonstrated how vulnerable Canada is to America's whims when the former president scrapped the North American Free Trade Agreement. The U.S. is Canada's closest neighbour and largest trading partner. More than 77 per cent of Canadian exports go to the U.S. Negotiation of CUSMA, commonly dubbed "the new NAFTA," was a key test for Ottawa following Trump's first victory. The trilateral agreement is up for review in 2026 and experts suspect this week's tariff announcement is a negotiating tactic. Scott Bessent, Trump's pick for treasury secretary, said in a recent op-ed that tariffs are "a useful tool for achieving the president's foreign policy objectives." "Whether it is getting allies to spend more on their own defence, opening foreign markets to U.S. exports, securing co-operation on ending illegal immigration and interdicting fentanyl trafficking, or deterring military aggression, tariffs can play a central role." During the initial CUSMA negotiations in 2018, Trump floated the idea of a 25 per cent tariff on the Canadian auto sector — something that would have been crippling for the industry on both sides of the border. It was never implemented. At the time, he did use his national security powers to impose a 25 per cent tariff on steel and 10 per cent tariff on aluminum imports, casting fear of an all-out trade war that would threaten the global economy. The day after announcing those levies, Trump posted on social media "trade wars are good, and easy to win." Former U.S. trade representative Robert Lighthizer recounted in his book that the duties sent an "unmistakable signal that business as usual was over." "The Trump administration was willing to ruffle diplomatic feathers to advance its trade agenda." It led to a legendary clash between Prime Minister Justin Trudeau and Trump at the G7 in Quebec. Trudeau said Canada would impose retaliatory measures, saying the argument that tariffs on steel and aluminum were a matter of national security was "kind of insulting." Trump took to social media, where, in a flurry of posts he called Trudeau "very dishonest and weak." Canada and other countries brought their own duties against the U.S. in response. They targeted products for political, rather than economic, reasons. Canada hit yogurt with a 10 per cent duty. Most of the product impacted came from one plant in Wisconsin, the home state of then-Republican House Speaker Paul Ryan. The European Union, Mexico and Canada all targeted U.S. whiskey products with tariffs, in a clear signal to then Republican Senate Majority Leader Mitch McConnell and his home state of Kentucky’s bourbon industry. Ultimately, Canada and Mexico were able to negotiate exemptions. Carlo Dade, the director of trade and trade infrastructure at the Canada West Foundation, said Trump is returning to the White House with more experience and a plan. But he suspects Americans will not like the blow to their bank accounts. Trump’s new across-the-board tariff strategy would not only disrupt global supply chains, it would also cause a major shakeup to the American economy. It's unclear if Trump will go through with them, or for how long, after campaigning on making life more affordable and increasing the energy market. "I think it will be short-term," Dade said. "The U.S. can only inflict damage on itself for so long." This report by The Canadian Press was first published Nov. 26, 2024. — With files from The Associated Press Kelly Geraldine Malone, The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More National News Economic impact of Taylor Swift's Eras Tour in Vancouver estimated at $157 M Nov 26, 2024 1:45 PM Paul Bernardo denied parole after victims' families plead he be kept behind bars Nov 26, 2024 1:39 PM Trudeau, premiers to meet Wednesday after Trump trade threat Nov 26, 2024 1:30 PM Featured FlyerFrom Chili's 'triple dipper' to The Cheesecake Factory, restaurant chains are reviving malls
PHOTOS: Swansboro pulls away from Southwest in high school boys' basketball- Raising the mid-points of billings, revenue, margins, earnings per share, and free cash flow guidance ranges. - Janesh Moorjani appointed as chief financial officer. SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2025. All growth rates are compared to the third quarter of fiscal 2024, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. Third Quarter Fiscal 2025 Financial Highlights "Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there's more to come in the next phase," said Andrew Anagnost , Autodesk president and CEO. "We will continue to deploy capital to offset and buy forward dilution, a practice which has reduced our share count over the last three years, and have significantly extended the duration of our repurchase program by increasing our stock repurchase authorization. Our goal is to deliver sustainable shareholder value over many years." "We generated broad-based underlying growth across products and regions. Overall, macroeconomic, policy, and geopolitical challenges, and the underlying momentum of the business, were consistent with the last few quarters with continued strong renewal rates and headwinds to new business growth," said Betsy Rafael , Autodesk interim CFO. "Given Autodesk's sustained momentum in the third quarter, and smooth launch of the new transaction model in Western Europe , we are raising the midpoints of our billings, revenue, margins, earnings per share, and free cash flow guidance ranges." Additional Financial Details Third Quarter Fiscal 2025 Business Highlights Net Revenue by Geographic Area Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year Constant currency change compared to prior fiscal year (In millions, except percentages) $ % % Net Revenue: Americas U.S. $ 579 $ 520 $ 59 11 % * Other Americas 126 120 6 5 % * Total Americas 705 640 65 10 % 11 % EMEA 580 516 64 12 % 13 % APAC 285 258 27 10 % 14 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % 12 % ____________________ * Constant currency data not provided at this level. Net Revenue by Product Family Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year (In millions, except percentages) $ % AEC $ 751 $ 675 $ 76 11 % AutoCAD and AutoCAD LT 398 372 26 7 % MFG 307 269 38 14 % M&E 83 73 10 14 % Other 31 25 6 24 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % Business Outlook The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2025 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2025 GAAP and non-GAAP estimates is provided below or in the tables following this press release. Fourth Quarter Fiscal 2025 Q4 FY25 Guidance Metrics Q4 FY25 (ending January 31, 2025) Revenue (in millions) $1,623 - $1,638 EPS GAAP $1.21 - $1.27 EPS non-GAAP (1) $2.10 - $2.16 ____________________ (1) Non-GAAP earnings per diluted share excludes $0.85 related to stock-based compensation expense, $0.17 for the amortization of both purchased intangibles and developed technologies, and $0.05 for acquisition-related costs, partially offset by ($0.18) related to GAAP-only tax charges. Full Year Fiscal 2025 FY25 Guidance Metrics FY25 (ending January 31, 2025) Billings (in millions) $5,900 - $5,980 Up 14% - 15% Revenue (in millions) (1) $6,115 - $6,130 Up approx. 11% GAAP operating margin 21.5% - 22% Non-GAAP operating margin (2) 35.5% - 36% EPS GAAP $4.95 - $5.01 EPS non-GAAP (3) $8.29 - $8.35 Free cash flow (in millions) (4) $1,470 - $1,500 ____________________ (1) Excluding the impact of foreign currency exchange rates and hedge gains/losses, revenue guidance range would be approximately 1 percentage point higher. (2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of both purchased intangibles and developed technologies, and approximately 1% related to acquisition-related costs. (3) Non-GAAP earnings per diluted share excludes $3.15 related to stock-based compensation expense, $0.61 for the amortization of both purchased intangibles and developed technologies, $0.23 related to acquisition-related costs, and $0.04 related to losses on strategic investments, partially offset by ($0.69) related to GAAP-only tax charges. (4) Free cash flow is cash flow from operating activities less approximately $30 million of capital expenditures. The fourth quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 20 percent and 19 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. Earnings Conference Call and Webcast Autodesk will host its third quarter conference call today at 5 p.m. ET . The live broadcast can be accessed at autodesk.com/investor . A transcript of the opening commentary will also be available following the conference call. A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor . This replay will be maintained on Autodesk's website for at least 12 months. Investor Presentation Details An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor . Key Performance Metrics To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. Glossary of Terms Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period. Cloud Service Offerings : Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term. Flex: A pay-as-you-go consumption option to pre-purchase tokens to access any product available with Flex for a daily rate. Free Cash Flow: Cash flow from operating activities minus capital expenditures. Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BIM Collaborate Pro, BuildingConnected, Fusion, and Flow Production Tracking. Certain products, such as Fusion, incorporate both Design and Make functionality and are classified as Make. Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers"). Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. Other Revenue: Consists of revenue from consulting, and other products and services, and is recognized as the products are delivered and services are performed. Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months. Solution Provider : Solution Provider is the name of our channel partners who primarily serve our new transaction model customers worldwide. Solution Providers may also be resellers in relation to Autodesk solutions. Spend : The sum of cost of revenue and operating expenses. Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current interpretations of existing tax law and could be affected by changing interpretations, further guidance, and additional tax legislation. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2024 Autodesk, Inc. All rights reserved. Autodesk, Inc. Condensed Consolidated Statements of Operations (In millions, except per share data) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) Net revenue: Subscription $ 1,457 $ 1,314 $ 4,195 $ 3,777 Maintenance 9 12 31 40 Total subscription and maintenance revenue 1,466 1,326 4,226 3,817 Other 104 88 266 211 Total net revenue 1,570 1,414 4,492 4,028 Cost of revenue: Cost of subscription and maintenance revenue 105 94 305 285 Cost of other revenue 19 21 57 62 Amortization of developed technologies 23 12 62 34 Total cost of revenue 147 127 424 381 Gross profit 1,423 1,287 4,068 3,647 Operating expenses: Marketing and sales 525 439 1,474 1,344 Research and development 378 339 1,092 1,021 General and administrative 161 165 477 438 Amortization of purchased intangibles 13 10 37 31 Total operating expenses 1,077 953 3,080 2,834Georgian Dream To Open Parliament Despite Protests, Without Foreign Diplomats
Kirill Kaprizov misses Texas trip, listed as day-to-day
Catching a 71-metre rocket mid-air and the first-ever private spacewalkEastern Kentucky secures 77-72 win over Southern Illinois
Graffiti-covered mansion beats out Toorak’s finest to be Victoria’s most-viewed listing of 2024Oura ring's new trick, SpaceX smack talk, and Black Friday deals: The week's most popular storiesLAS VEGAS (AP) — A team that previously boycotted at least one match against the San Jose State women's volleyball program will again be faced with the decision whether to play the school , this time in the Mountain West Conference semifinals with a shot at the NCAA Tournament on the line. Five schools forfeited matches in the regular season against San Jose State, which carried a No. 2 seed into the conference tournament in Las Vegas. Among those schools: No. 3 Utah State and No. 6 Boise State, who will face off Wednesday with the winner scheduled to play the Spartans in the semifinals on Friday. Wyoming, Nevada and Southern Utah — which is not a Mountain West member — also canceled regular-season matches, all without explicitly saying why they were forfeiting. Nevada players cited fairness in women’s sports as a reason to boycott their match, while political figures from Wyoming, Idaho, Utah and Nevada suggested the cancellations center around protecting women’s sports. In a lawsuit filed against the NCAA , plaintiffs cited unspecified reports asserting there was a transgender player on the San Jose State volleyball team, even naming her. While some media have reported those and other details, neither San Jose State nor the forfeiting teams have confirmed the school has a trans women’s volleyball player. The Associated Press is withholding the player’s name because she has not publicly commented on her gender identity and through school officials has declined an interview request. A judge on Monday rejected a request made by nine current conference players to block the San Jose State player from competing in the tournament on grounds that she is transgender. That ruling was upheld Tuesday by an appeals court. “The team looks forward to starting Mountain West Conference tournament competition on Friday,” San Jose State said in a statement issued after the appeals court decision. “The university maintains an unwavering commitment to the participation, safety and privacy of all students at San Jose State and ensuring they are able to compete in an inclusive, fair and respectful environment.” Chris Kutz, a Boise State athletics spokesman, said in an email the university would not “comment on potential matchups at this time.” Doug Hoffman, an Aggies athletics spokesman, said in an email Utah State is reviewing the court’s order. “Right now, our women’s volleyball program is focused on the game this Wednesday, and we’ll be cheering them on,” Hoffman wrote. San Jose State, which had a first-round bye, would be sent directly to the conference title game if Utah State or Boise State were to forfeit again. If the Spartans make the title game, it's likely the opponent would not forfeit. They would face top-seeded Colorado State, No. 4 Fresno State or No. 5 San Diego State — all teams that played the Spartans this season. The conference champion receives an automatic bid to the NCAA Tournament. AP college sports: https://apnews.com/hub/college-sports
Prosecutors in Santa Clara County have charged six former Apple employees for allegedly exploiting the tech giant's gift-matching program for charitable donations. According to the District Attorney's Office, the workers were charged with multiple felonies, including grand theft, conspiracy to commit felony grand theft, perjury and tax fraud in connection with the scheme, which took place between 2018 and 2021. The employees also face an aggravated white-collar crime enhancement due to the sums involved. The suspects have been identified as 37-year-old Siu Kei (Alex) Kwan of Castro Valley, 34-year-old Yathei (Hayson) Yuen of San Jose, 35-year-old Yat C (Sunny) Ng of Milpitas, 38-year-old Wentao (Victor) Li of Hayward, 39-year-old Lichao Ni of Sunnyvale, and 31-year-old Zheng Chang of Union City. "This case underscores our unwavering commitment to rigorously prosecuting individuals who defraud the tech community and misuse vital charitable programs and state resources," District Attorney Jeff Rosen said in a statement . "We commend Apple for coming forward and actively collaborating with our Office to uncover this elaborate fraud." According to prosecutors, Kwan was the alleged ringleader of the operation, directing the other five suspects to donate to two charities: the "American Chinese International Cultural Exchange (ACICE)" and "Hop4Kids." Kwan was the CEO of Hop4Kids and the accountant for ACICE. Prosecutors said the employees would make donations through a third-party platform called Benevity. Apple would provide a 100% or 200% match and Benevity would disperse the funds to the charities. Kwan allegedly reimbursed the employees and kept the matching funds for himself. He also allegedly prepared fraudulent tax returns. The employees are also accused of falsely claiming the donations as tax deductions. Prosecutors said the suspects extracted about $152,000 from Apple's gift-matching program and overreported around $100,000 in charitable contributions as tax deductions in their returns. According to Rosen's office, arrest warrants have been issued for all six suspects. Arraignment dates have not been set. If convicted, the suspects face possible jail time and could be forced to pay restitution, fines and fees.Harris' campaign leaders say there was a 'price to be paid' for shortened campaign against Trump
Legit.ng journalist Adekunle Dada has over 7 years of experience covering metro, government policy, and international events CHECK OUT: Education is Your Right! Don’t Let Social Norms Hold You Back. Learn Online with LEGIT. Enroll Now! Ibadan, Oyo state - Queen Naomi Silekunola, the former wife of the Ooni of Ife , broadcaster Oriyomi Hamzat, and Abdullahi Babatunde have been charged with four charges over the death of 35 children in Ibadan, Oyo state. The Chief Magistrate’s Court in Ibadan accused the suspects of conspiring to commit a felony and failing to provide adequate security and medical facilities for the event. This is according to a copy of the charges obtained by Premium Times. Conspiracy to commit a felony PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! The defendants were alleged to have conspired to commit a felony leading to acceleration of death, contrary to Section 324 of the Criminal Code. Culpable Homicide The court alleged that the suspects caused the deaths of Musiliu Sofia and thirty-four others. This offence is contrary to Section 311 and punishable under Section 319 of the Criminal Code. Cap 38, Vol. II, Laws of Oyo state, 2000 Read also Tragedy as gunmen shoot Catholic Priest dead in Anambra Negligent acts causing harm The defendants are also charged with conspiring to commit negligent acts causing harm, contrary to Section 517 of the Criminal Code. Cap 38, Vol. II, Laws of Oyo state, 2000. Failure to ensure safety The defendants were alleged to have unlawfully omitted the provision of adequate security, medical facilities, and a conducive atmosphere before inviting attendees to the venue, resulting in the stampede. Cap 38, Vol. II, Laws of Oyo state, 2000. PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy! Source: Legit.ngNo IPO? No problem! How Canadian retail investors can buy private companies
Gophers football adds Nebraska wideout Malachi Coleman via portalNo. 4 Penn State tries to keep playoff picture out of focus in prep for tough trip to Minnesota
- Previous: jili 646 casino login
- Next: 646jili01