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jili178 apps download for android TEHRAN – Iran’s Deputy Foreign Minister for Legal and International Affairs, Kazem Gharibabadi, has expressed strong criticism of the International Atomic Energy Agency (IAEA) following the agency's Director General Rafael Grossi's acknowledgment of Israel’s possession of nuclear weapons. Grossi said the “assumed presence of nuclear weapons looms in the background” in a statement expressing concern about escalating tensions between Iran and Israel. “The fact that the Director General of the agency has acknowledged the existence of nuclear weapons in the occupied territories for the first time is a significant issue,” the diplomat wrote on X before calling on Grossi to go beyond mere acknowledgment. “This admission places a heavy burden on him and the IAEA. Simply acknowledging it is not enough; he must condemn the existence of such weapons in the hands of this criminal regime and call for their destruction, as well as for this regime's accession to the Non-Proliferation Treaty (NPT).” The Deputy Foreign Minister also condemned Grossi's comments regarding the potential for nuclear proliferation by Iran, labeling them as unprofessional and politically motivated. Gharibabadi argued that such statements reflect a bias akin to that of political officials from nations with vested interests, rather than an objective assessment based on facts. “Iran is committed to its NPT obligations, and as long as unjust sanctions are in place, it will not accept additional monitoring beyond its established commitments. Therefore, the Director General can report any deviations in the verification process regarding nuclear materials as evidence, rather than publicizing his speculations.”Dodgers Retain 2020 World Series Champion On $2.1 Million Deal

Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes office President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. Haleluya Hadero And Michelle Price, The Associated Press Dec 27, 2024 3:07 PM Dec 27, 2024 3:20 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message FILE - The TikTok Inc. building is seen in Culver City, Calif., March 17, 2023. (AP Photo/Damian Dovarganes, File) President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by Jan. 19 while the government emphasized its position that the statute is needed to eliminate a national security risk. “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the Court consider staying the Act’s deadline for divestment of January 19, 2025, while it considers the merits of this case,” said Trump’s amicus brief, which supported neither party in the case and was written by D. John Sauer, Trump’s choice for solicitor general. The argument submitted to the court is the latest example of Trump inserting himself in national issues before he takes office. The Republican president-elect has already begun negotiating with other countries over his plans to impose tariffs, and he intervened earlier this month in a plan to fund the federal government, calling for a bipartisan plan to be rejected and sending Republicans back to the negotiating table. Trump has also reversed his position on the popular app, having tried to ban it during his first term in office over national security concerns. He joined the app during his 2024 presidential campaign and his team used it to connect with younger voters, especially male voters, by pushing content that was often macho and aimed at going viral. He said earlier this year that he still believed there were national security risks with TikTok, but that he opposed banning it. This month, Trump also met with TikTok CEO Shou Chew at his Mar-a-Lago club in Florida. The filings Friday come ahead of oral arguments scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. The law was was signed by President Joe Biden in April after it passed Congress with broad bipartisan support. TikTok and ByteDance filed a legal challenge afterwards. Earlier this month, a panel of three federal judges on the U.S. Court of Appeals for the District of Columbia Circuit unanimously upheld the statute , leading TikTok to appeal the case to the Supreme Court. The brief from Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office.” In their brief to the Supreme Court on Friday, attorneys for TikTok and its parent company ByteDance argued the federal appeals court erred in its ruling and based its decision on “alleged ‘risks’ that China could exercise control” over TikTok’s U.S. platform by pressuring its foreign affiliates. The Biden administration has argued in court that TikTok poses a national security risk due to its connections to China. Officials say Chinese authorities can compel ByteDance to hand over information on TikTok’s U.S. patrons or use the platform to spread or suppress information. But the government “concedes that it has no evidence China has ever attempted to do so,” TikTok’s legal filing said, adding that the U.S. fears are predicated on future risks. In its filing Friday, the Biden administration said because TikTok “is integrated with ByteDance and relies on its propriety engine developed and maintained in China,” its corporate structure carries with it risk. Haleluya Hadero And Michelle Price, The Associated 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 Get your daily Victoria news briefing Email Sign Up More Science News Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes office Dec 27, 2024 2:45 PM A 9th telecoms firm has been hit by a massive Chinese espionage campaign, the White House says Dec 27, 2024 1:37 PM American Civil War-era sword belonging to N.B. doctor to go on display in Saint John Dec 27, 2024 1:12 PMJoin our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More This year's show should be big again. Last year's attendance reached 138,789, according to an audited report by the Consumer Technology Association (CTA), the group that puts on the show. Last year at CES 2024, I recorded around 80 press events, interviews, and sessions. I walked 46.78 miles, or 105,407 steps, over six days. My feet hurt and my back were sore. There were more than 4,300 exhibitors and 2.4 million square feet of exhibit space to crawl. And the Goodyear blimp was there. I've been attending the Consumer Electronics Show since the 1990s when then-Microsoft CEO Bill Gates gave the opening keynote speeches every year. This time, the biggest speech will come from Jensen Huang, CEO of Nvidia, the graphics chip maker that has become the king of AI hardware with a market value of $3.42 trillion — the most valuable company in the world. He will give a talk at 6:30 p.m. Pacific time at the Michelob Arena at the Mandalay Bay on January 6. Most attendees arrive at the show on January 7 and stay through January 10, when the expos are open. But the press — a few thousand of us — start arriving on January 5 for the afternoon previews and CES Unveiled (press only, in Mandalay Bay), where award-winning exhibitors show their wares at tables. "The CES is an amazing, powerful tech event. I was looking back at what you had written last year about it, before and after," said Gary Shapiro, CEO of the Consumer Technology Association, in an interview with GamesBeat. "A lot of people go with a very full agenda, but we always say you have to have time for serendipity and discovery. We have a new look, a new feel. We focused the campaign on "Dive in." We're inviting attendees to do three things: connect, solve, and discover." He said the average attendee has about 29 meetings during the show, as face-to-face business is still important. About... Dean Takahashi‘First Buddy’ Elon Musk accuses Trump impeachment witness of ‘treason’ and calls for ‘appropriate penalty’

Ontario colleges, universities 'rebalancing' after cut to international students, says post-secondary minister

Romanians are casting ballots on Sunday in the first round of a presidential election that could pit a far-right nationalist against the incumbent leftist prime minister in the runoff. Thirteen candidates are vying for the presidency in the European Union and NATO member country, and the vote is expected to go to a second round on Dec. 8. Polls opened at 7.00 a.m. local time (0500GMT) and will close at 9.00 p.m. (1900GMT). Romanians abroad have been able to vote since Friday. By 8 p.m. local time (1800GMT), 9.2 million people — about 51% of eligible voters — had cast ballots, according to the Central Election Bureau. The final vote could see George Simion, the leader of the far-right Alliance for the Unity of Romanians, or AUR, face off against incumbent Prime Minister Marcel Ciolacu, backed by Romania’s largest party, the Social Democratic Party or PSD. The presidential role carries a five-year term and has significant decision-making powers in areas such as national security, foreign policy, and judicial appointments. Romania will also hold parliamentary elections on Dec. 1 that will determine the country’s next government and prime minister. Simion, 38, is a vocal supporter of U.S. President-elect Donald Trump and has long been a controversial figure. He campaigned for reunification with Moldova, which this year renewed a five-year ban on him from entering the country over security concerns, and he is banned for the same reason from entering neighbouring Ukraine. “I would like that in the next five to ten years, for Romanians to be really proud to be Romanians, to promote Romanian culture, Romanian products,” he told reporters on Wednesday in the capital, Bucharest. “As a Romanian president, I will promote Romanian interests. In most cases, Romanian interests coincide with partner interests.” Ecaterina Nawadia, a 20-year-old architecture student, said she voted for the first time in a national election on Sunday and hopes young people turn out in high numbers. “Since the (1989) revolution, we didn’t have a really good president,” she said. “I hope most of the people my age went to vote ... because the leading candidate is not the best option.” Cristian Andrei, a political consultant based in Bucharest, says Sunday’s vote will be “a tight race” in which the diaspora will likely play a key role in which candidates make it to the runoff. “We are at a point where Romania can easily divert or slip toward a populist regime because (voter) dissatisfaction is pretty large among a lot of people from all social strata,” he told The Associated Press. “And the temptation for any regime, any leader — will be to go on a populist road.” He added that Romania’s large budget deficit, high inflation, and an economic slowdown could push more mainstream candidates to shift toward populist stances amid widespread dissatisfaction. Ciolacu told the AP that if he is elected, one of his biggest goals is “to convince Romanians that it is worth staying at home or returning” to Romania, which has a massive diaspora spread throughout EU countries. “Romania has a huge chance to become a developed economy in the next 10 years, where honest work is fairly rewarded and people have the security of a better life,” he said. “But for this, we need balance and responsibility ... I am running for the Presidency of Romania because we need a change.” Other key candidates include Elena Lasconi of the Save Romania Union party, or USR former NATO deputy general secretary Mircea Geoana, who is running independently and Nicolae Ciuca, a former army general and head of the center-right National Liberal Party, which is currently in a tense coalition with the PSD. Geoana, a former foreign minister and ambassador to the United States, told the AP that he believes his international experience qualifies him above the other candidates. “I think I bring a lot of competence and experience and connections in this complicated world,” he said. Lasconi, a former journalist and the leader of the USR said she sees corruption as one of the biggest problems Romania faces and that she supports increased defence spending and continued aid to Ukraine. Romania has been a staunch ally of war-torn Ukraine since Russia launched a full-scale invasion in February 2022. But Simion of the AUR party said he opposes Romania — which has sent a Patriot missile system to Ukraine — contributing further military aid and that he hopes Trump can “stop the war.” In 2020, the AUR party went from relative obscurity to gaining 9% in a parliamentary vote, allowing it to enter parliament. Opponents have long accused Simion and AUR of being extremists, charges he denies. “We are sort of a Trumpist party in this new wave of patriotic political parties in Europe,” Simion said.Irv Wilson Dies; Prolific Producer In Golden Era Of TV Movies Was 93

Irv Wilson Dies; Prolific Producer In Golden Era Of TV Movies Was 93

WASHINGTON (AP) — The House shut down Democrats' efforts Thursday to release the long-awaited ethics report into former Rep. Matt Gaetz, pushing the fate of any resolution to the yearslong investigation of sexual misconduct allegations into further uncertainty. Read this article for free: Already have an account? As we navigate through unprecedented times, our journalists are working harder than ever to bring you the latest local updates to keep you safe and informed. Now, more than ever, we need your support. Starting at $14.99 plus taxes every four weeks you can access your Brandon Sun online and full access to all content as it appears on our website. or call circulation directly at (204) 727-0527. Your pledge helps to ensure we provide the news that matters most to your community! WASHINGTON (AP) — The House shut down Democrats' efforts Thursday to release the long-awaited ethics report into former Rep. Matt Gaetz, pushing the fate of any resolution to the yearslong investigation of sexual misconduct allegations into further uncertainty. Read unlimited articles for free today: Already have an account? WASHINGTON (AP) — The House shut down Democrats’ efforts Thursday to release the long-awaited ethics report into former Rep. Matt Gaetz, pushing the fate of any resolution to the yearslong investigation of sexual misconduct allegations into further uncertainty. The nearly party-line votes came after Democrats had been pressing for the findings to be published even though the Florida Republican left Congress and withdrew as President-elect Donald Trump’s nominee for attorney general. Republicans have argued that any congressional probe into Gaetz ended when he resigned from the House. Speaker Mike Johnson also requested that the committee not publish its report, saying it would be a terrible precedent to set. While ethics reports have previously been released after a member’s resignation, it is extremely rare. Shortly before the votes took place, Rep. Sean Casten, D-Ill., who introduced one of the bills to force the release, said that if Republicans reject the release, they will have “succeeded in sweeping credible allegations of sexual misconduct under the rug.” Gaetz has repeatedly denied the claims. Earlier Thursday, the Ethics panel met to discuss the Gaetz report but made no decision, saying in a short statement that the matter is still being discussed. It’s unclear now whether the document will ever see the light of day as lawmakers only have a few weeks left before a new session of Congress begins. It’s the culmination of weeks of pressure on the Ethics committee’s five Republicans and five Democrats who mostly work in secret as they investigate allegations of misconduct against lawmakers. The status of the Gaetz investigation became an open question last month when he abruptly resigned from Congress after Trump’s announcement that he wanted his ally in the Cabinet. It is standard practice for the committee to end investigations when members of Congress depart, but the circumstances surrounding Gaetz were unusual, given his potential role in the new administration. Rep. Michael Guest, R-Miss., the committee chairman, said Wednesday that there is no longer the same urgency to release the report given that Gaetz has left Congress and stepped aside as Trump’s choice to head the Justice Department. “I’ve been steadfast about that. He’s no longer a member. He is no longer going to be confirmed by the Senate because he withdrew his nomination to be the attorney general,” Guest said. The Gaetz report has also caused tensions between lawmakers on the bipartisan committee. Pennsylvania Rep. Susan Wild, the top Democrat on the panel, publicly admonished Guest last month for mischaracterizing a previous meeting to the press. Gaetz has denied any wrongdoing and said last year that the Justice Department’s separate investigation against him into sex trafficking allegations involving underage girls ended without federal charges. His onetime political ally Joel Greenberg, a fellow Republican who served as the tax collector in Florida’s Seminole County, admitted as part of a plea deal with prosecutors in 2021 that he paid women and an underage girl to have sex with him and other men. The men were not identified in court documents when he pleaded guilty. Greenberg was sentenced in late 2022 to 11 years in prison. ___ Advertisement AdvertisementNo. 7 Tennessee dispatches UT Martin to remain undefeatedKendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Ancient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 19 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 19 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 167,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat sent to restaurants nationwide. Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli, which can cause life-threatening infections. No illnesses have been reported outside of Minnesota. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.”

‘Our youth have started thinking about future that they want’ Jammu: Lieutenant Governor Manoj Sinha today interacted with the youth delegation from Tamil Nadu, who are on a five-day visit to J&K for Yuva Sangam, under Ek Bharat Shreshtha Bharat initiative. The Lieutenant Governor welcomed the Youth and learned about the experiences and multi-dimensional exposure they gained during their visit to the UT of J&K. “Tamil Nadu and Jammu Kashmir are eternally connected since time immemorial. When I look at the two regions, I see the inspiring chapters of rich ancient Indian history, contribution of men and women who shaped the destiny of our country,” he said. The Lieutenant Governor also commended the Yuva Sangam initiative of Ministry of Education, aimed at strengthening people-to-people connect among youth across different States and Union Territories. “I am truly grateful to Prime Minister Narendra Modi for unlocking the power of diversity with the spirit of oneness,” the Lieutenant Governor said. He also spoke on the Youth specific and youth-related policies and programmes launched in the last 10 years to create an enabling environment to realize their dreams. “The social consciousness of our youth is sharp and they have big dreams not just for themselves but for the development of this great nation. Our youth have started thinking about the future that they want. They are also working towards constructive change for a prosperous society based on equality and social justice,” the Lieutenant Governor said. Jammu Kashmir is paired with Tamil Nadu under Yuva Sangam to promote unity in diversity by facilitating meaningful interactions, cultural exchange and knowledge sharing among youth.

Black Friday and Cyber Monday e-commerce sales broke records again this year, with Adobe pointing out that US sales increased 10.2% YoY to $10.8 billion on Black Friday while Cyber Monday sales rose 7.3% YoY to ~$13.3 billion. Peak sales hit $15.8 million per minute on Monday evening. Shopify is a major beneficiary of Black Friday sales, and coming off a strong Q3, saw another record-breaking holiday. Shopify’s growth was quite strong at two times higher than overall Black Friday sales, with GMV increasing 22% YoY to a record $5 billion. For Black Friday/Cyber Monday, GMV rose 24% YoY to $11.5 billion with peak sales hitting $4.6 million per minute. POLAND - 2023/03/07: In this photo illustration a Shopify logo seen displayed on a smartphone. ... [+] (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images) Q3 was strong with revenue growth accelerating to 26% YoY, operating income more than doubling YoY and FCF margin approaching 20%, the true test will be Q4. Shopify will need to prove to the Street that it can continue to re-accelerate revenue into 2025 given the strong Black Friday trends and international expansion efforts. Shopify Revenue Growth Reaccelerates in Q3 Shopify reported a strong third quarter earlier in November, with revenue growth reaccelerating more than 500 bp sequentially. Q3 revenue increased 26.1% YoY to $2.16 billion, with growth accelerating from 20.7% in Q2. Excluding logistics (comps from Q2 23 to Q2 24), Q3 was the sixth consecutive quarter with revenue growth of >25%. For Q4, management guided revenue growth in the mid- to high-20% range, benefiting from the holiday season and building upon Q3’s growth. Given the recent data on Black Friday sales, Shopify is well on its way to deliver on this guide. FBI Warns iPhone And Android Users—Stop Sending Texts Microsoft’s New Update—Bad News Confirmed For 400 Million Windows Users FBI Warns Smartphone Users—Hang Up And Create A Secret Word Now Shopify's revenue growth reaccelerated in Q3 after decelerating for five consecutive quarters. Shopify pointed out three key drivers of revenue growth and strength in Q3: · Strong GMV growth · Subscription Solutions revenue growth · Increased Payments penetration I break these key points down for you below. GMV Driven by European Growth of 35% International helped to drive the beat this quarter, with GMV “outside North America growing 33% in Q3. European GMV grew greater than 35% as our largest markets of the UK, Germany, France, and the Netherlands continue to gain traction.” Global GMV increased 24% to $69.7 billion in the third quarter, the fifth quarter in a row where growth exceeded 20%. This was driven by same-store sales growth by Shopify and Shopify Plus merchants (organic growth from existing stores), as well as that international strength. Shopify Plus is tailored to large and enterprise businesses, offering exclusive conversion and automation features and lower fees to help drive growth for those merchants. Additionally, Q3 offline GMV was up 27% YoY, and has more than doubled in just the past three years. Q3 B2B GMV grew over 145% YoY, and has now had five consecutive quarters of triple-digit growth. This shows Shopify’s diversity ability to grow beyond digital stores for small-to-medium sized retail customers, which had driven the bulk of the business during the stock’s Covid surge. The expansion into Europe also shows promising signs of Shopify’s ability to scale globally in a more meaningful way. The company stated they “made enhancements to localization, shipping, and compliance, and are pairing that with intensified marketing efforts” for Europe. Black Friday was also strong and an early indicator for Q4, with Shopify recording $5 billion in GMV for the holiday, a 22% YoY increase, in-line with last year’s growth. Deutsche Bank analysts noted that this GMV puts Shopify on track to hit Q4 GMV expectations of $92.8 billion, correlating to a 23.6% YoY increase, about in line with Q3’s growth rate. To note, GMV growth of 24% lags revenue growth of 26%. This is not necessarily a negative; however, it does hint that customer spending could be slowing slightly, and a further decoupling of the two rates could suggest a revenue re-acceleration may be short-lived if this decoupling continues. Subscriptions: MRR Accelerates 3-Points Shopify’s Subscription Solutions revenue, the second stated driver of revenue growth, increased 26% YoY to $610 million, and represents 28% of revenue. Growth has decelerated from 34% YoY in Q1 and 27% YoY in Q2, but MRR trends point to growth stabilizing around 26% or reaccelerating slightly come Q4 and into 2025 with some pricing and merchant growth tailwinds. In Q3, MRR growth accelerated 3 points to 28% YoY, up from 25% in Q2, reaching $175 million. Plus contributed 31% of MRR, flat with last quarter, while Plus, Standard and Point of Sale all saw “continued growth” in Q3. In Q3, MRR growth accelerated 3 points to 28% YoY, up from 25% in Q2, reaching $175 million. Shopify Payments up 31%, Shop Pay up 42% Shopify Payments facilitated $43 billion in GPV in Q3, up 31% YoY, with penetration rising to 62% of GMV (compared to 58% last year). Shop Pay similarly increased 42% YoY to $17B in GMV. Management attributed the strength in payments to a few factors: strong performance of merchants utilizing Payments, more of which are Plus subscribers, higher global adoption of payments; and increasing penetration of Shop Pay. For Q4, Payments are likely to provide a headwind down the line, due to holiday season dynamics. In Q3, the lower margins on Payments came from a higher mix of Shopify Plus merchants, which are larger enterprises at a fixed rate, and due to a higher mix of credit card usage compared to debit card usage. Shopify explained that Q4 “sees a higher percentage of revenue from Payments given the high-volume holiday selling season,” and as a result, management expects “higher dollar losses on Payments” due to that volume growth. Q4 Earnings Pop May be Short-Lived Analysts are forecasting that Shopify regresses back towards revenue growth in the 20% range by FY25. Currently, Shopify is estimated to report 27.2% YoY growth in Q4, supported in part by 24% YoY growth in Cyber Week GMV. This would mark a sequential acceleration of 110 bp, and 360 bp faster growth than the 23.6% recorded last Q4. Analysts are forecasting that Shopify regresses back towards revenue growth in the 20% range by ... [+] FY25. Shopify’s revenue growth is more correlated to GMV growth now as opposed to 2022 and early 2023. For example, Shopify was reporting revenue growth rates >10 percentage points higher than GMV growth due to GPV growth, pricing and merchant revenue growth. By Q4 2023, revenue growth became much more closely tied to GMV – Shopify reported 23.2% GMV growth in that quarter and 23.6% revenue growth, and in Q1 2024, GMV growth was 22.8% versus revenue growth of 23.4%. However, Q3 showed a larger decoupling of the two, with GMV growth of 24.0% lagging revenue growth by more than 2 percentage points. Q3 showed a larger decoupling of GMV and revenue growth, with GMV growth of 24.0% lagging revenue ... [+] growth by more than 2 percentage points. This suggests that if GMV growth begins to peak in Q4 and decelerate, revenue growth may soon follow if Shopify cannot push GPV growth to >30% or pull additional levers such as pricing to maintain a high-20% revenue growth rate. To point out, analysts currently expect GMV growth of ~23.6% in Q4, again much slower than the 27.2% estimated revenue growth rate, though increased Payments volume will play a role in that. Moving into 2025, if GMV trends towards 20%, there’s risk that revenue growth will follow. These are a few things that I’m watching for as I continue to evaluate Shopify. I provide weekly deep dives, real-time trade alerts and weekly webinars to evaluate positions and discuss potential entries and exits. Learn more here . Executing Well with 132% Growth in Adjusted Operating Income Shopify is executing very well despite margin headwinds, driving operating income growth well in the triple digits despite contracting gross margins in Q3. Corporate gross margin contracted 90 bp, dropping from 52.6% last year to 51.7%, weighed down by Merchant Solutions (accounting for 55% of gross profit dollars), where gross margin contracted 130 bp to 39.7%. Management added that Payments had an adverse impact to Merchant Solutions’ gross margin for two reasons: it accounted for a larger portion of revenue, while it also had lower margins due to higher Plus merchant mix on a fixed rate and a higher credit card mix compared to debit cards. Despite the headwinds to gross margin, Shopify’s cost optimization efforts are bearing fruit. Gross profit increased 24% YoY, or $217 million in dollar terms, while operating expenses increased just 7% YoY, or $56 million in dollar terms. This drove a 132% YoY increase in adjusted operating income from $122 million in $283 million, or 13.1% of revenue. This led to a 99% increase in adjusted net income, excluding equity investment impacts. Q4 is expected to see this dynamic continue, despite more margin headwinds. Based on management’s guidance, gross margin is expected to contract 3.2% QoQ and 1.1% YoY while operating income is projected to increase 2.8% QoQ and increase 2.5% YoY. Shopify Stock Has Potential Catalysts Ahead Shopify has a couple catalysts ahead, one in moving upstream to capturing more enterprises on the platform, and the other within AI and automation features facilitating daily workflows for merchants. In Q3, management highlighted that the quarter was “an exceptional quarter in terms of new enterprise-level brands” from all verticals coming to Shopify. Management said that enterprise “is a massive opportunity to build for the long term,” with the opportunity only beginning to bud, with just 16 enterprise launches in Q3. Shopify believes it offers a value proposition for enterprises to switch to its platform due to flexibility and speed. To demonstrate this, management explained that “one merchant recently brought over 44,000 SKUs to Shopify in less than three minutes, a task that used to take hours if not days. This significant reduction in data migration hassle is a big deal as it removes major friction point for merchants looking to move to Shopify.” Migrating over more enterprise brands in the coming quarters can provide tailwinds to both GMV and GPV, bringing more sales and more payment transactions to the platform. The data migration point ties hand in hand with another catalyst for Shopify, arising from AI and automation features. Shopify is working on improving merchant automation, from data migration to inventory management and more. Shopify Flow, which is Shopify’s low-code workflow automation app that empowers merchants to build custom automations has been improved with 304 new actions in the API. Shopify Inbox is now utilizing AI to assist merchants in quickly responding to customer inquiries, while new automations for tax filings and VAT were added to Shopify Tax. Shopify is also implementing artificial intelligence to drive higher levels of personalization for customers, and in turn, drive higher value for merchants. President Harley Finkelstein explained Shopify thinks “search and AI together makes the Shop search way more relevant, way more personalized,” and that “the change that we've made, in some cases, have led to an 18% increase in sessions where a buyer engages in a recommendation with our new home feed.” To that extent, Shopify announced that Mikhail Parakhin recently joined as CTO, after spending more than a decade at Microsoft helping to launch Copilot and spearheading search and AI innovations at Yandex. Shopify said that Parakhin “brings a wealth of experience in AI and search technologies” and “in just over two months since he joined us, he has already made a significant impact enhancing our products.” Technical Analysis: As long as any weakness can hold $89.95, I expect the uptrend to push into the $132 region and then the $150 - $190 region. If any further weakness cannot hold $89.95, then the odds SHOP will push higher go down significantly. It is well above this level, so we should continue to look higher. As long as any weakness can hold $89.95, I expect the uptrend to push into the$132 region and then ... [+] the $150 - $190 region Once it gets to the $132 - $190 region, what next? This is where SHOP gets a little tricky. The larger uptrend off the 2022 low has unfortunately been quite messy. This opens the door to several potential larger patterns in play. What my firm can say with a higher degree of confidence is that if SHOP can break above the $190 region and do so on elevated volume and in a direct manner, it will favor the more bullish interpretation of what is potentially playing out. However, if it fails to breakout over the $190 region, and instead see a larger pullback from the $150 - $190 region, then we will likely see a notable correction before pushing higher. We really will not know what is in play from a technical analysis perspective until we get into the above target range and see what SHOP’s price does next. Conclusion Shopify has performed well despite gross margin headwinds, as prudent cost optimization efforts are leading to significant operating leverage. Q3 demonstrated this with triple digit operating income growth despite gross margin contracting nearly 1 percentage point. Although this dynamic along with strong growth is expected to continue into next quarter, ideally I’d want to see GMV keep pace with revenue growth into 2025. Analysts seem to agree with next year consensus showing growth exiting next year at 21.2%. Although the near-term catalyst is strong Black Friday performance, likely leading to strong holiday performance (we will see), the medium-term catalysts are found in global expansion, increased enterprise mix, and placing more focus on AI and automation features to help merchants increase productivity and drive more sales. Stay on the leading edge of AI with I/O Fund’s high-performing tech portfolio, which had 7 positions outperform the Nasdaq-100 last year for a cumulative return of 131% since inception. Year-to-date for 2024, the I/O Fund had 10 positions beating the indexes, many held at high allocations, and we are prepping for a strong 2025. Take advantage of our Black Friday sale, our largest sale of the year with up to $250 off! 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