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LAHAINA, Hawaii — Andrej Jakimovski converted an off-balance layup with 8 seconds left, and Colorado handed No. 2 UConn its second loss in two days at the Maui Invitational, beating the two-time defending national champion 73-72 on Tuesday. A day after a 99-97 overtime loss to Memphis that left Huskies coach Dan Hurley livid about the officiating, UConn (4-2) couldn’t shake the unranked Buffaloes (5-1), who shot 62.5 percent in the second half. With Colorado trailing 72-71 in the closing seconds, Jakimovski drove to his right and absorbed contact from UConn’s Liam McNeeley. He tossed the ball toward the glass and the shot was good as he fell to the floor. Hassan Diarra missed a 3-pointer just ahead of the buzzer for UConn. Elijah Malone and Julian Hammond III scored 16 points each for Colorado, and Jakimovski had 12 points and 10 rebounds. The Huskies, who entered the tournament on a 17-game winning streak, led 40-32 at halftime and by nine points early in the second half, but Colorado quickly closed that gap. McNeeley led UConn with 20 points.NoneMiddle East latest: Syria's forces withdraw from Homs, a key link between the capital and coastMidwest city's real estate market is in crisis as billionaire sells off homes and crime soars By LAUREN ACTON-TAYLOR FOR DAILYMAIL.COM Published: 19:19 GMT, 7 December 2024 | Updated: 19:22 GMT, 7 December 2024 e-mail 25 View comments Chicago 's luxury real estate market has been in spiraling decline since 2021 and a billionaire is the latest to sell his home for a dramatic loss amid soaring crime . A trend of decline across the Midwest city has hit luxury condos the hardest, as wealthy billionaires like Citadel CEO Ken Griffin sold a portion of his penthouse at a 44 per cent loss of $15 million last month. The hedge-fund manager had paid more than $34 million for the entire 37th and 38th floors of the condo tower No.9 Walton in 2017 and sold them last month for $9 million and $10 million respectively. Griffin was quick to blame 'failed political leadership in Illinois ', taking a stab at Democratic Govenor JB Pritzker for the rising crime and declining real-estate values. 'The decline in value of Chicago real estate is representative of the failed political leadership in Illinois which is a loss ultimately borne by the people of the state,' he said, weeks after shelling out $45million for an 150million-year-old set of fossils . Some 28 per cent less of the windy-city's homes sell for more than $4 million and the median sale price dropping from $5 million to $4.625 million. The median price of Chicago's condos above $1 million dropped 9.1 per cent in the third quarter of 2024 from the same period in 2021, according to a report by brokerage @properties . A trend of decline across the Midwest city of Chicago's real estate market has hit luxury condos the hardest, as wealthy billionaires like Citadel CEO Ken Griffin sold a portion of his penthouse at a 44 per cent loss of $15 million last month Chicago experienced 28 per cent fewer of the windy-city's homes selling for more than $4 million Griffin was quick to blame 'failed political leadership in Illinois', taking a stab at Democratic Govenor JB Pritzker for the rising crime and declining real-estate values In comparison, prices for high-end single-family homes above the $1 million mark rose 14 per cent in the same time frame. As many wealthy sellers are looking for where to place blame, real-estate agents say the beginnings of the downward spiral stem from 2020. The year was the peak of the pandemic, Chicago was in lockdown and many big cities were the center of protests and violence related to the murder of George Floyd . The summer of 2020 saw clashes between protestors and police, mass lootings that caused stores to be boarded up, and a general sense of unrest in the city. However, unlike big cities like New York or San Francisco, Chicago never bounced back, and its crime rates have remained high. Although murders in Chicago have declined by 26 percent, overall crime in the city has climbed 36 percent year-to-date compared with the same period in 2020 , the WSJ reported. As interest rates soar and crime continues to coast, 'the high-end downtown luxury market has definitely taken a big hit,' said Nancy Tasson of Jameson Sotheby's International Realty. Tasson, who also worked on Griffin's penthouse sale, told the Wall Street Journal : 'Once [the social unrest] happened, we couldn’t recover from it.' As many wealthy sellers are looking for where to place blame, real-estate agents say the beginnings of the downward spiral stem from 2020 as protests related to the murder of George Floyd The alarming crime rates have also deterred businesses like Citadel as Griffen cited crime as one of the major factors in this decision to move the company from Chicago to Miami in 2022 As interest rates soar and crime continues to coast, 'the high-end downtown luxury market has definitely taken a big hit,' said Nancy Tasson of Jameson Sotheby's International Realty As the violence erupted, many suburbanites who had plans to downsize to the downtown quickly shifted toward different areas. Compass real-estate agent Jeff Lowe said one of the city's major losses is empty nesters who move from the suburbs to Florida but keep a place in the city. 'People used to sell their giant mansions out there and then they would buy an apartment in the city and a place in Arizona or Florida,' he told WSJ. 'What happened during the pandemic was they started skipping the downtown part.' The alarming crime rates have also deterred businesses like Citadel as Griffen cited crime as one of the major factors into this decision to move the company from Chicago to Miami in 2022. The hedge-fund manager said that, among other incidents, one of his colleagues was robbed at gunpoint while getting a coffee. Citadel was one major corporation out of many to relocate from Chicago around the same time, including Boeing, Caterpillar and Tyson Foods, reported WSJ. However, Griffin's quickness to blame crime has also been challenged as real-estate insiders say crime can't be the sole blame. They said the record $58.75 million he paid was 'far higher than anything Chicago had seen before', reported WSJ. Part of the problem, said Ames, is that Chicago doesn't attract international buyers that have built condo markets in cities like New York or Miami. She added that Midwest buyers tend to keep their distance from outrageously lavish spending: 'Our market is not flashy. It's not like Beverly Hills' Condos, however, felt the brunt of buyers' safety concerns as many high-end buildings resorted to slashing asking prices to draw people in. In November, a condo at the Four Seasons Hotel Chicago sold for $1.025 million, 43 per cent less than the $1.8 million the seller paid for it in 2000 The median price of Chicago's condos above $1 million dropped 9.1 per cent in the third quarter of 2024 from the same period in 2021, according to a report by brokerage @properties According to real-estate agent Jennifer Ames of Engel & Völkers Chicago, Griffin 'overpaid', and Chicago developed Jim Letchinger said: 'It's unlikely he would have found anybody to pay him anything close to what he spent.' Letchinger added that while such buyers are more common in New York or Palm Beach, 'we don't see them in Chicago very often.' 'He just wanted to sell. And quite frankly, if he sold for $5 million or $10 million less or more, it doesn't make any difference to him.' Local agents told the outlet that his 'highly visible selloff' will only worsen the perception of values across the market. Condos, however, felt the brunt of buyers' safety concerns as many high-end buildings resorted to slashing asking prices to draw people in. In November, a condo at the Four Seasons Hotel Chicago sold for $1.025 million, 43 per cent less than the $1.8 million the seller paid for it in 2000. At Letchinger's latest condo project, One Chicago, roughly 35 per cent of the building's 77 units remained unsold after five years of sales. Letchinger told WSJ: 'It started with a bang. We had 19 or 20 sales in the first four or five weeks. Then, we didn't see anybody for a year and a half. There was a point in time where we didn't know if we'd ever sell another condo.' Prices of some of the condos were slashed by 20 percent, and some were rented out. Part of the problem, said Ames, is that Chicago doesn't attract international buyers that have built condo markets in cities like New York or Miami. She added that Midwest buyers tend to keep their distance from outrageously lavish spending: 'Our market is not flashy. It's not like Beverly Hills.' Hope for condo sales, however, has emerged as sales have begun to pick up in the last few months. Letchinger told WSJ that he sold 18 units at One Chicago in the last four months. 'I think we're starting to find the bottom,' said Lowe. 'Prices have come down enough that I think people are seeing real value.' New York Illinois Chicago Florida Share or comment on this article: Midwest city's real estate market is in crisis as billionaire sells off homes and crime soars e-mail Add comment
Senator introduces bill to compel more transparency from AI developersVoice cloning is an emerging technology powered by artificial intelligence and it's raising alarms about its potential misuse. Earlier this year, New Hampshire voters experienced this firsthand when a deepfake mimicking President Joe Biden’s voice urged them to skip the polls ahead of the primary. The deepfake likely needed only several seconds of the president's voice to create the clone. According to multiple AI voice cloning models, about 10 seconds of an actual voice is all that is needed to recreate it. And that can easily come from a phone call or a video from social media. "A person's voice is really probably not that information-dense. It's not as unique as you may think," James Betker, a technical staff member at OpenAI, told Scripps News. Betker developed TortoiseTTS, an open-source voice cloning model. "It's actually very easy to model, very easy to learn, the distribution of all human voices from a fairly small amount of data," Betker added. How AI voice cloning works AI models have been trained on vast amounts of data, learning to recognize human speech. Programs analyze the data and train repeatedly, learning characteristics such as rhythm, stress, pitch and tone. "It can look at 10 seconds of someone speaking and it has stored enough information about how humans speak with that kind of prosody and pitch. Enough information about how people speak with their processing pitch and its weights that it can just continue on," Betker said. Imagine a trained AI model as a teacher, and the person cloning the voice to be a student. When a student asks to create a cloned voice, it starts off as white noise. The teacher scores how close the student is to sounding correct. The student tries again and again based on these scores until the student produces something close to what the teacher wants. While this explanation is extremely simplified, the concept of generating a cloned voice is based on bit-by-bit, based on probability distributions. "I think, at its core, it's pretty simple," Betker said. "I think the analogy of just continuing with what you're given will take you pretty far here." There are currently some AI models that claim to only need two seconds of samples. While the results are not convincing yet, Betker says future models will need even fewer voice samples to create a convincing clone.
Prime Minister Anthony Albanese has not had a smooth run in the top job as he struggles to find answers to relieve cost of living pressures, all while running from one self-inflicted problem to the next. The Labor Party can no longer blame their economic predicaments on the previous government. While inflation is slowly coming down in the US, the Reserve Bank is in no mood to give an inch yet, and Labor have brought a lot of the pressure on themselves. Since Albanese and Labor came to power, electricity prices have risen 22 per cent higher than they previously were under the Coalition. Gas prices are up 25 per cent, rent by 15 per cent and food by 11 per cent more than what we paid less than two years ago. The public is finally beginning to see the lack of drive, initiative and care by Albanese as he stumbles and fumbles his way through the top job. And there is a sense that if he lost the next Federal Election he really would not care. Right from the start, while campaigning against then-PM Scott Morrison, Albanese was asked what the unemployment rate was, which led to a bumbling, tongue-out response before he replied, “I don’t know what it is”. It was an election that Scott Morrison lost more than Albanese won. Since then, scandal has dogged Albanese month-on-month. His want for a legacy with the Voice, which was supposed to recognise First Nations peoples in the constitution, ended with the majority of Australians voting No. Albanese thought he could sneak the Voice over the line, leaving much of the pitfalls and questions about the ambiguous proposal unanswered. The majority of us were not foolish enough to take that risk. At a cost of more than $411 million, it is fair to ask what impact that same money might have had if directed towards Aboriginal programs that are working on the ground right now. Add to this Albanese’s reluctance to spend any substantial time visiting the Northern Territory during its youth crime crisis. It also got a little weird when we were treated to Albo’s dancing at a Taylor Swift concert. Where exactly are his priorities? Well, it would seem they are for a buying $4.3 million property for his soon-to-be retirement with his fiancé. It is hard to find the positive achievements of a PM who is meant to be steering the economy out of one of the hardest cost of living crises in decades. Labor has also just scrapped an essential $7 billion sovereign satellite communications system that was going to be used for the Australian Defence Force in the face of new threats. Instead, the government relies on the US to borrow their satellite capabilities which are struggling to cope with their own enormous military communications. If the US cannot guarantee space for us, we will need to rely on private enterprises such as Elon Musk’s Starlink. But perhaps the main problem is that the government blew the budget on other pet projects. New figures show around 26,000 new public service jobs have added an additional $5 billion cost to the budget annually. This has increased the colossal expenditure to over $37 billion a year spent on bureaucrats. Then again, it is one way to keep official unemployment rates down. Talking of cost blowouts, the push towards Labor’s energy plan is not the $122 billion that they promised, but would instead be between $580 to $642 billion to transition the infrastructure for renewable energy to work. More than half a trillion dollars is the new figure that Labor definitely did not want the public to be talking about going into an election early next year. Labor have not had a clear direction for Australia since their ascension in 2022, while Albanese has been disengaged with public concerns about the cost of living, cost of retirement and housing affordability. He is a disinterested PM who has steered Australia in no particular direction. Despite an easy run in a left-dominated press, the problems are adding up and without any positives coming from Labor, the 2025 election looks more like it will be handed to the Coalition. Robert Weir is a freelance journalist whose work has also been published in The Spectator Australia. He enjoys writing political, lifestyle, and environmental stories as well as film reviewsLong Beach, CA, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Phound, the innovative communication app developed by the creators of FreeConferenceCall.com, is thrilled to announce that it has been awarded the prestigious 2024 Unified Communications Innovation of the Year Award by TMC Labs. This honor highlights Phound's commitment to redefining modern communication, especially in an era marked by outdated phone systems, rising spam and robocalls, and escalating costs due to inflation. As traditional phone systems struggle to keep pace with the needs of users, Phound offers a refreshing alternative. For just $5 per month, Phound empowers users to manage their communications more effectively, providing customizable phone numbers linked to unique personas. This feature allows users to tailor their communication experiences, blending messages, meetings, and calls while maintaining privacy and ownership of their phone number contact cards. "Our solution is designed with the modern user in mind, prioritizing security, privacy, and personalization,” said Dave Erickson, CEO of Phound. "We are incredibly honored to receive the 2024 Unified Communications Innovation Award from TMC Labs, a respected leader in the industry. This achievement reflects our team's dedication to delivering innovative solutions that enhance communication.” Phound is not just about phone numbers; it integrates Magnum AI, an intelligent assistant that provides detailed meeting summaries and productivity enhancements, ensuring users stay organized and informed in today's fast-paced digital landscape. The app's advanced access controls empower users to dictate who can search, call, or message them, offering a tailored and secure communication experience. Phound is poised to lead the charge in transforming how individuals and businesses communicate. With a suite of innovative features, Phound is set to change the way people interact, ensuring every conversation is streamlined and secure. "We invite everyone to check out Phound.app and take advantage of our free video meetings to see how Phound can transform your communication experience. Thank you for your continued support!” added Erickson. About Phound Founded by a team of innovative thinkers and seasoned professionals, Phound is dedicated to transforming communication by prioritizing user privacy, personalization, and efficiency. Our flagship app combines state-of-the-art features, including customizable phone numbers and integrated AI capabilities, to empower users with complete control over their communications. About TMC TMC is a global leader in technology marketing and publishing. Through its editorial platforms, live events, and webinars, TMC provides buyers with insights for informed technology purchase decisions. TMC's events, such as the ITEXPO #TECHSUPERSHOW, unite thousands of qualified purchasers and product decision-makers with technology vendors, creating a thriving B2B tech community. For more information about Phound and its award-winning communication solutions, please visit Phound.app. CONTACT: Nick Southron Phound 562-502-2324 [email protected]Middle East latest: Syria's forces withdraw from Homs, a key link between the capital and coast
YXT.com Reports Unaudited Financial Results for the First Nine Months of 2024SANTA CLARA, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ: API) (the "Company”), a pioneer and leader in real-time engagement technology, today announced its unaudited financial results for the third quarter ended September 30, 2024. "Recently, we launched our Conversational AI SDK in collaboration with OpenAI's Realtime API to allow developers to bring voice-driven AI experiences to any app. We believe multimodal AI agents that can interact with human through natural voice will gain widespread adoption across many use cases such as customer support, education and wellness, and Agora is well positioned to become a key infrastructure provider for real-time conversational AI,” said Tony Zhao, founder, chairman and CEO of Agora. "To support this vision, we recently made some structural changes, aligning our organization to fully leverage the accelerating conversational AI opportunities, and operate in a faster, leaner, and more responsive fashion. These changes will help us build the next generation real-time engagement technology for the Generative AI era and strengthen our position as the leader in real-time engagement space.” Third Quarter 2024 Highlights Revenues Total revenues were $31.6 million in the third quarter of 2024, a decrease of 9.8% from $35.0 million in the same period last year. Revenues of Agora were $15.7 million in the third quarter of 2024, an increase of 2.6% from $15.3 million in the same period last year, primarily due to our business expansion and usage growth in sectors such as live shopping. Revenues of Shengwang were RMB112.9 million ($15.9 million) in the third quarter of 2024, a decrease of 20.0% from RMB141.2 million ($19.7 million) in the same period last year, primarily due to a decrease in revenues of RMB 17.5 million ($2.4 million) due to the end-of-sale of certain products and reduced usage from customers in certain sectors such as social and entertainment as a result of challenging macroeconomic and regulatory environment. Cost of Revenues Cost of revenues was $10.5 million in the third quarter of 2024, a decrease of 16.4% from $12.6 million in the same period last year, primarily due to the end-of-sale of certain products and the decrease in bandwidth usage and costs, which was offset partially by severance expenses for customer support teams of $0.3 million. Gross Profit and Gross Margin Gross profit was $21.0 million in the third quarter of 2024, a decrease of 6.1% from $22.4 million in the same period last year. Gross margin was 66.7% in the third quarter of 2024, an increase of 2.7% from 64.0% in the same period last year, mainly due to the end-of-sale of certain low-margin products, which was offset partially by higher severance expenses in the third quarter of 2024. Operating Expenses Operating expenses were $45.9 million in the third quarter of 2024, an increase of 24.3% from $36.9 million in the same period last year, primarily due to the increase in restructuring and severance expenses in the third quarter of 2024, which included share-based compensation of $11.4 million as a result of the cancellation of certain employees' equity awards and immediate recognition of relevant remaining unrecognized compensation expenses, as well as severance expenses of $4.4 million. Loss from operations was $24.7 million in the third quarter of 2024, compared to $13.9 million in the same period last year. Interest Income Interest income was $3.9 million in the third quarter of 2024, compared to $4.9 million in the same period last year, primarily due to the decrease in the average balance of cash, cash equivalents, bank deposits and financial products issued by banks and the decrease in average interest rate realized. Losses from equity in affiliates Losses from equity in affiliates were $4.2 million in the third quarter of 2024, primarily due to an impairment loss on an investment in certain private company of $4.1 million. Net Loss Net loss was $24.2 million in the third quarter of 2024, compared to $22.5 million in the same period last year. Net Loss per American Depositary Share attributable to ordinary shareholders Net loss per American Depositary Share ("ADS”) 1 attributable to ordinary shareholders was $0.26 in the third quarter of 2024, compared to $0.23 in the same period last year. _____________ 1 One ADS represents four Class A ordinary shares. Share Repurchase Program During the three months ended September 30, 2024, the Company repurchased approximately 6.8 million of its Class A ordinary shares (equivalent to approximately 1.7 million ADSs) for approximately US$3.9 million under its share repurchase program, representing 1.9% of its US$200 million share repurchase program. As of September 30, 2024, the Company had repurchased approximately 129.4 million of its Class A ordinary shares (equivalent to approximately 32.3 million ADSs) for approximately US$113.7 million under its share repurchase program, representing 57% of its US$200 million share repurchase program. As of September 30, 2024, the Company had 368.3 million ordinary shares (equivalent to approximately 92.1 million ADSs) outstanding, compared to 449.8 million ordinary shares (equivalent to approximately 112.5 million ADSs) outstanding as of January 31, 2022 before the share repurchase program commenced. The current share repurchase program will expire at the end of February 2025. Executive Leadership Update Today the Company announced that Chief Security Officer Roger Hale will be leaving the Company, effective immediately. Mr. Hale has served in this role for the past 2.5 years, during which he made significant contributions to enhancing the Company's security, compliance, and data protection protocols. Mr. Hale will work closely with senior leadership to ensure a smooth transition of his responsibilities. Moving forward, Patrick Ferriter and Robbin Liu will assume responsibility for security and compliance, reflecting the Company's commitment to maintaining a strong and effective security framework. Mr. Hale will continue to provide strategic advice as an advisor to the Company. "We are grateful for Roger's dedication and expertise over the past two and a half years. His leadership has been invaluable in strengthening our security & compliance foundation,” said Tony Zhao, founder, chairman and CEO of Agora. "Security and compliance remain top priorities for Agora, and we will continue to uphold the highest standards to protect our customers and stakeholders.” Financial Outlook Based on currently available information, the Company expects total revenues for the fourth quarter of 2024 to be between $34 million and $36 million, compared to $31.6 million in the third quarter of 2024, and $33.3 million in the fourth quarter of 2023 if revenues from certain end-of-sale low-margin products were excluded. The Company also expects significant improvement in net income / (loss) in the fourth quarter. This outlook reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change. Earnings Call The Company will host a conference call to discuss the financial results at 5 p.m. Pacific Time / 8 p.m. Eastern Time on November 25, 2024. Details for the conference call are as follows: Event title: Agora, Inc. 3Q 2024 Financial Results The call will be available at https://edge.media-server.com/mmc/p/wie28zvr Investors who want to hear the call should log on at least 15 minutes prior to the broadcast. Participants may register for the call with the link below. https://register.vevent.com/register/BIf58a0b6f500c4362b1a8c64f9fa4cea8 Please visit the Company's investor relations website at https://investor.agora.io on November 25, 2024 to view the earnings release and accompanying slides prior to the conference call. Use of Non-GAAP Financial Measures The Company has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States ("GAAP”). The Company uses these non-GAAP financial measures internally in analyzing its financial results and believe that the use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing its financial results with other companies in its industry, many of which present similar non-GAAP financial measures. Besides free cash flow (as defined below), each of these non-GAAP financial measures represents the corresponding GAAP financial measure before share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. The Company believes that such non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effects of such share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill that it includes in its cost of revenues, total operating expenses and net income (loss). The Company believes that all such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP. A reconciliation of its historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the tables captioned "Reconciliation of GAAP to Non-GAAP Measures” included at the end of this press release, and investors are encouraged to review the reconciliation. Definitions of the Company's non-GAAP financial measures included in this press release are presented below. Non-GAAP Net Income (Loss) Non-GAAP net income (loss) is defined as net income (loss) adjusted to exclude share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. Free Cash Flow Free cash flow is defined as net cash provided by operating activities less purchases of property and equipment (excluding the acquisition of land use right and the payment for the headquarters project). The Company considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business. Operating Metrics The Company also uses other operating metrics included in this press release and defined below to assess the performance of its business. Active Customers An active customer at the end of any period is defined as an organization or individual developer from which the Company generated more than $100 of revenue during the preceding 12 months. Customers are counted based on unique customer account identifiers. Generally, one software application uses the same customer account identifier throughout its life cycle while one account may be used for multiple applications. Dollar-Based Net Retention Rate Dollar-Based Net Retention Rate is calculated for a trailing 12-month period by first identifying all customers in the prior 12-month period, and then calculating the quotient from dividing the revenue generated from such customers in the trailing 12-month period by the revenue generated from the same group of customers in the prior 12-month period. As the vast majority of revenue generated from Agora's customers is denominated in U.S. dollars, while the vast majority of revenue generated from Shengwang's customers is denominated in Renminbi, Dollar-Based Net Retention Rate is calculated in U.S. dollars for Agora and in Renminbi for Shengwang, which has substantially removed the impact of foreign currency translations. Shengwang excluded the revenues from certain end-of-sale products, Easemob's CEC business and K12 academic tutoring sector. The Company believes Dollar-Based Net Retention Rate facilitates operating performance comparisons on a period-to-period basis. Safe Harbor Statements This press release contains "forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding the Company's financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as "expect,” "anticipate,” "believe,” "project,” "will” and similar expressions intended to identify forward-looking statements. Among other things, the Financial Outlook in this announcement contain forward-looking statements. These forward-looking statements are based on the Company's current expectations and involve risks and uncertainties. The Company's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the growth of the RTE-PaaS market; the Company's ability to manage its growth and expand its operations; the continued impact of COVID-19 on global markets and the Company's business, operations and customers; the Company's ability to attract new developers and convert them into customers; the Company's ability to retain existing customers and expand their usage of its platform and products; the Company's ability to drive popularity of existing use cases and enable new use cases, including through quality enhancements and introduction of new products, features and functionalities; the Company's fluctuating operating results; competition; the effect of broader technological and market trends on the Company's business and prospects; general economic conditions and their impact on customer and end-user demand; and other risks and uncertainties included elsewhere in the Company's filings with the Securities and Exchange Commission ("SEC”), including, without limitation, the final prospectus related to the IPO filed with the SEC on June 26, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. About Agora, Inc. Agora, Inc. is the Cayman Islands holding company of two independent divisions, under Agora brand and Shengwang brand, respectively, whose businesses are conducted through separate entities. Headquartered in Santa Clara, California, Agora is a pioneer and global leader in Real-Time Engagement Platform-as-a-Service (PaaS), providing developers with simple, flexible, and powerful application programming interfaces, or APIs, to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications. Headquartered in Shanghai, China, Shengwang is a pioneer and leading Real-Time Engagement PaaS provider in the China market. For more information on Agora, please visit: www.agora.io For more information on Shengwang, please visit: www.shengwang.cn Agora, Inc. Condensed Consolidated Balance Sheets (Unaudited, in US$ thousands) Condensed Consolidated Statements of Comprehensive Loss (Unaudited, in US$ thousands, except share and per ADS amounts)
ISLAMABAD (AP) — Pakistani security forces launched an operation Tuesday night to disperse supporters of imprisoned former Prime Minister Imran Khan who had gathered in the capital to demand his release from prison. The latest development came hours after thousands of Khan supporters, defying government warnings, broke through a barrier of shipping containers blocking off Islamabad and entered a high-security zone, where they clashed with security forces, facing tear gas shelling, mass detentions and gunfire. Tension has been high in Islamabad since Sunday when supporters of the former prime minister began a “long march” from the restive northwest to demand his release. Khan has been in a prison for over a year and faces more than 150 criminal cases that his party says are politically motivated. Khan’s wife, Bushra Bibi, led the protest, but she fled as police pushed back against demonstrators. Hundreds of Khan’s supporters are being arrested in the ongoing nighttime operation, and police are also seeking to arrest Bibi. Interior Minister Mohsin Naqvi told reporters that the Red Zone, which houses government buildings and embassies, and the surrounding areas have been cleared. Leaders from Khan's Pakistan Tehreek-e-Insaf party, or PTI, have also fled the protest site. Earlier Tuesday, Pakistan’s army took control of D-Chowk, a large square in the Red Zone, where visiting Belarusian President Alexander Lukashenko is staying. Since Monday, Naqvi had threatened that security forces would use live fire if protesters fired weapons at them. “We have now authorized the police to respond as necessary,” Naqvi said Tuesday while visiting the square. Before the operation began, protester Shahzor Ali said people had taken to the streets because Khan had called for them. “We will stay here until Khan joins us. He will decide what to do next,” Ali said. “If they fire bullets again, we will respond with bullets,” he said. Protester Fareeda Bibi, who is not related to Khan’s wife, said people have suffered greatly for the last two years. “We have really suffered for the last two years, whether it is economically, politically or socially. We have been ruined. I have not seen such a Pakistan in my life,” she said. Authorities have struggled to contain the protest-related violence. Six people, including four members of the security services, were killed when a vehicle rammed them on a street overnight into Tuesday. A police officer died in a separate incident. Dozens of Khan supporters beat a videographer covering the protest for The Associated Press and took his camera. He sustained head injuries and was treated in a hospital. By Tuesday afternoon, fresh waves of protesters made their way unopposed to their final destination in the Red Zone. Most demonstrators had the flag of Khan’s party around their shoulders or wore its tricolors on accessories. Naqvi said Khan’s party had rejected a government offer to rally on the outskirts of the city. Information Minister Atta Tarar warned there would be a severe government reaction to the violence. He said the government did not want Bushra Bibi to achieve her goal of freeing Khan. “She wants bodies falling to the ground. She wants bloodshed,” he said. The government says only the courts can order Khan’s release. He was ousted in 2022 through a no-confidence vote in Parliament. In a bid to foil the unrest, police have arrested more than 4,000 Khan supporters since Friday and suspended mobile and internet services in some parts of the country. Messaging platforms were also experiencing severe disruption in the capital. Khan’s party relies heavily on social media and uses messaging platforms such as WhatsApp to share information, including details of events. The X platform, which is banned in Pakistan, is no longer accessible, even with a VPN. Last Thursday, a court prohibited rallies in the capital and Naqvi said anyone violating the ban would be arrested. Travel between Islamabad and other cities has become nearly impossible because of shipping containers blocking the roads. All education institutions remain closed. Pakistan's Stock Exchange lost more than $1.7 billion Tuesday due to rising political tensions, according to economist Mohammed Sohail from Topline Securities. Associated Press writers Munir Ahmed in Islamabad and Asim Tanveer in Multan, Pakistan, contributed to this report.WASHINGTON (AP) — As a former and potentially future president, Donald Trump hailed what would become as a road map for “exactly what our movement will do” with another crack at the White House. As for a hard-right turn in America became a liability during the 2024 campaign, . He denied knowing anything about the “ridiculous and abysmal” plans written in part by his first-term aides and allies. Now, after being elected the 47th president on Nov. 5, Trump is stocking his second administration with key players in the detailed effort he temporarily shunned. Most notably, Trump has tapped for an encore as director of the Office of Management and Budget; Tom Homan, his former immigration chief, as and immigration hardliner Stephen Miller as . Those moves have accelerated criticisms from Democrats who warn that Trump's election hands government reins to movement conservatives who spent years envisioning how to concentrate power in the West Wing and impose a starkly rightward shift across the U.S. government and society. Trump and his aides maintain that he won a mandate to overhaul Washington. But they maintain the specifics are his alone. “President Trump never had anything to do with Project 2025,” said Trump spokeswoman Karoline Leavitt in a statement. “All of President Trumps' Cabinet nominees and appointments are whole-heartedly committed to President Trump's agenda, not the agenda of outside groups.” Here is a look at what some of Trump's choices portend for his second presidency. As budget chief, Vought envisions a sweeping, powerful perch The Office of Management and Budget director, a role Vought held under Trump previously and requires Senate confirmation, prepares a president's proposed budget and is generally responsible for implementing the administration's agenda across agencies. The job is influential but Vought made clear as author of a Project 2025 chapter on presidential authority that he wants the post to wield more direct power. “The Director must view his job as the best, most comprehensive approximation of the President’s mind,” Vought wrote. The OMB, he wrote, “is a President’s air-traffic control system” and should be “involved in all aspects of the White House policy process,” becoming “powerful enough to override implementing agencies’ bureaucracies.” Trump did not go into such details when naming Vought but implicitly endorsed aggressive action. Vought, the president-elect said, “knows exactly how to dismantle the Deep State” — Trump’s catch-all for federal bureaucracy — and would help “restore fiscal sanity.” In June, speaking on former Trump aide Steve Bannon’s “War Room” podcast, Vought relished the potential tension: “We’re not going to save our country without a little confrontation.” Vought could help Musk and Trump remake government's role and scope The strategy of further concentrating federal authority in the presidency permeates Project 2025's and Trump's campaign proposals. Vought's vision is especially striking when paired with Trump's proposals to dramatically expand the president's control over federal workers and government purse strings — ideas intertwined with the president-elect tapping mega-billionaire Elon Musk and venture capitalist Vivek Ramaswamy to Trump in his first term sought to remake the federal civil service by reclassifying tens of thousands of federal civil service workers — who have job protection through changes in administration — as political appointees, making them easier to fire and replace with loyalists. Currently, only about 4,000 of the federal government's roughly 2 million workers are political appointees. President Joe Biden rescinded Trump's changes. Trump can now reinstate them. Meanwhile, Musk's and Ramaswamy's sweeping “efficiency” mandates from Trump could turn on an old, defunct constitutional theory that the president — not Congress — is the real gatekeeper of federal spending. In his “Agenda 47,” Trump endorsed so-called “impoundment,” which holds that when lawmakers pass appropriations bills, they simply set a spending ceiling, but not a floor. The president, the theory holds, can simply decide not to spend money on anything he deems unnecessary. Vought did not venture into impoundment in his Project 2025 chapter. But, he wrote, “The President should use every possible tool to propose and impose fiscal discipline on the federal government. Anything short of that would constitute abject failure.” Trump's choice immediately sparked backlash. “Russ Vought is a far-right ideologue who has tried to break the law to give President Trump unilateral authority he does not possess to override the spending decisions of Congress (and) who has and will again fight to give Trump the ability to summarily fire tens of thousands of civil servants,” said Sen. Patty Murray of Washington, a Democrat and outgoing Senate Appropriations chairwoman. Reps. Jamie Raskin of Maryland and Melanie Stansbury of New Mexico, leading Democrats on the House Committee on Oversight and Accountability, said Vought wants to “dismantle the expert federal workforce” to the detriment of Americans who depend on everything from veterans' health care to Social Security benefits. “Pain itself is the agenda,” they said. Homan and Miller reflect Trump's and Project 2025's immigration overl ap Trump’s protests about Project 2025 always glossed over . Both want to reimpose Trump-era immigration limits. Project 2025 includes a litany of detailed proposals for various U.S. immigration statutes, executive branch rules and agreements with other countries — reducing the number of refugees, work visa recipients and asylum seekers, for example. Miller is one of Trump's longest-serving advisers and architect of his immigration ideas, including his promise of the largest deportation force in U.S. history. As deputy policy chief, which is not subject to Senate confirmation, Miller would remain in Trump's West Wing inner circle. “America is for Americans and Americans only,” Miller said at Trump’s on Oct. 27. “America First Legal,” Miller’s organization founded as an ideological counter to the American Civil Liberties Union, was listed as an advisory group to Project 2025 until Miller asked that the name be removed because of negative attention. Homan, a Project 2025 named contributor, was an acting U.S. Immigration and Customs Enforcement director during Trump’s first presidency, playing a key role in what became known as Trump's Previewing Trump 2.0 earlier this year, Homan said: “No one’s off the table. If you’re here illegally, you better be looking over your shoulder.” Project 2025 contributors slated for CIA and Federal Communications chiefs John Ratcliffe, Trump's , was previously one of Trump's directors of national intelligence. He is a Project 2025 contributor. The document's chapter on U.S. intelligence was written by Dustin Carmack, Ratcliffe's chief of staff in the first Trump administration. Reflecting Ratcliffe's and Trump's approach, Carmack declared the intelligence establishment too cautious. Ratcliffe, like the chapter attributed to Carmack, is hawkish toward China. Throughout the Project 2025 document, Beijing is framed as a U.S. adversary that cannot be trusted. Brendan Carr, the senior Republican on the Federal Communications Commission, wrote Project 2025's FCC chapter and is to chair the panel. Carr wrote that the FCC chairman “is empowered with significant authority that is not shared” with other FCC members. He called for the FCC to address “threats to individual liberty posed by corporations that are abusing dominant positions in the market,” specifically “Big Tech and its attempts to drive diverse political viewpoints from the digital town square.” He called for more stringent transparency rules for social media platforms like Facebook and YouTube and “empower consumers to choose their own content filters and fact checkers, if any.” Carr and Ratcliffe would require Senate confirmation for their posts. ___ Bill Barrow, The Associated Press
Major Aidan Hutchinson injury update on Detroit Lions playoff status after suffering horror double broken legHe is not yet in power but President-elect Donald Trump rattled much of the world with an off-hours warning of stiff tariffs on close allies and China — a loud hint that Trump-style government by social media post is coming back. With word of these levies against goods imported from Mexico, Canada and China, Trump sent auto industry stocks plummeting, raised fears for global supply chains and unnerved the world’s major economies. For Washington-watchers with memories of the Republican’s first term, the impromptu policy volley on Monday evening foreshadowed a second term of startling announcements of all manner, fired off at all hours of the day from his smartphone. “Donald Trump is never going to change much of anything,” said Larry Sabato, a leading US political scientist and director of the University of Virginia’s Center for Politics. “You can expect in the second term pretty much what he showed us about himself and his methods in the first term. Social media announcements of policy, hirings and firings will continue.” The first of Trump’s tariff announcements — a 25 percent levy on everything coming in from Mexico and Canada — came amid an angry rebuke of lax border security at 6:45 pm on Truth Social, Trump’s own platform. The United States is bound by agreements on the movement of goods and services brokered by Trump in a free trade treaty with both nations during his first term. But Trump warned that the new levy would “remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country” — sowing panic from Ottawa to Mexico City. Seconds later, another message from the incoming commander-in-chief turned the focus on Chinese imports, which he said would be hit with “an additional 10% Tariff, above any additional Tariffs.” The consequences were immediate. Almost every major US automaker operates plants in Mexico, and shares in General Motors and Stellantis — which produce pickup trucks in America’s southern neighbor — plummeted. Canada, China and Mexico protested, while Germany called on its European partners to prepare for Trump to impose hefty tariffs on their exports and stick together to combat such measures. – Framing the debate – The tumult recalls Trump’s first term, when journalists, business leaders and politicians at home and abroad would scan their phones for the latest pronouncements, often long after they had left the office or over breakfast. During his first four years in the Oval Office, the tweet — in those days his newsy posts were almost exclusively limited to Twitter, now known as X — became the quasi-official gazette for administration policy. The public learned of the president-elect’s 2020 Covid-19 diagnosis via an early-hours post, and when Iranian Revolutionary Guards commander Qasem Soleimani was assassinated on Trump’s order, the Republican confirmed the kill by tweeting a US flag. The public and media learned of numerous other decisions big and small by the same source, from the introduction of customs duties to the dismissal of cabinet secretaries. It is not a communication method that has been favored by any previous US administration and runs counter to the policies and practices of most governments around the world. Throughout his third White House campaign, and with every twist and turn in his various entanglements with the justice system, Trump has poured his heart out on Truth Social, an app he turned to during his 20-month ban from Twitter. In recent days, the mercurial Republican has even named his attorney general secretaries of justice and health via announcements on the network. “He sees social media as a tool to shape and direct the national conversation and will do so again,” said political scientist Julian Zelizer, a Princeton University professor. AFP
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