aces wild deviantart STUART, Fla. , Dec. 24, 2024 /PRNewswire/ -- Health In Tech, an Insurtech platform company backed by third-party AI technology, today announced the closing of its initial public offering of 2,300,000 shares of its Class A common stock at a public offering price of $4.00 per share, for gross proceeds of $9,200,000 , before deducting underwriting discounts, commissions, and estimated offering expenses. The Company has granted the underwriter an option, exercisable within 30 days from the date of the final prospectus, to purchase an additional 345,000 shares of Class A common stock from Health In Tech at the initial public offering price, less underwriting discounts and commissions. Assuming such option is fully exercised, the Company may raise a total of approximately US$10,580,000 in gross proceeds from the Offering Health In Tech intends to use the net proceeds from the offering for system enhancements, expansion of service offerings, sales and distribution channels, talent development and retention, working capital, and other general corporate purposes. American Trust Investment Services, Inc. acted as the sole book-running manager for the offering. A registration statement on Form S-1 (File No. 333-281853) relating to the shares was filed with the Securities and Exchange Commission and became effective on December 19, 2024 . This offering was made only by means of a prospectus, forming part of the effective registration statement. A copy of the prospectus relating to the offering can be obtained when available, by contacting American Trust Investment Services, Inc., 230 W. Monroe Street , Suite 300, Chicago, IL 60606, or via E-Mail at ECM@amtruinvest.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Health In Tech Health in Tech ("HIT") is an Insurtech platform company backed by third-party AI technology. We offer a dynamic marketplace designed to create customized healthcare plan solutions while streamlining processes through vertical integration, process simplification, and automation. By eliminating friction and complexities, HIT enhances value propositions for employers and optimizes underwriting, sales, and service workflows for Managing General Underwriters (MGUs), insurance carriers, licensed brokers, and Third-Party Administrators (TPAs). Learn more at healthintech.com . Forward-Looking Statements Regarding Health In Tech Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech's possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "design," "target," "aim," "hope," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "project," "potential," "goal," or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to Health In Tech's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause Health In Tech's actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Health In Tech's control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Health In Tech's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to Health In Tech's operations, results of operations, growth strategy and liquidity. Investor Contact Investor Relations: ir@healthintech.com View original content to download multimedia: https://www.prnewswire.com/news-releases/health-in-tech-announces-closing-of-initial-public-offering-302338923.html SOURCE Health In Techhe Japanese star of the is enjoying the offseason, with no greater worries than taking advantage of the rest after having completed the task of winning the . While he returns to practice next year, he has been frequently seen at games. This Sunday, attended with his wife the at the , where seven MVP awards were gathered in the stands. did not play and was in the stands with his four awards, plus the three of the Japanese star, who was seven rows from the court seats in a private section. Public appearances by the couple are not so common, although they are likely to take advantage of the off-season. This time they were not accompanied by , the family dog who has caused a sensation. Shohei Ohtani and Mamiko Tanaka cause a stir at Lakers game is a Japanese basketball star, who played for from 2019 to 2023 and seeing the pair at an NBA game, fans were excited and there were those who suggested they compare to the . "He got the money and Buss' kids are...", suggested one fan, in reference to the $700 million contract he signed in 2023 with the , although the largest amount is deferred The couple had a nice time, and on social media they also joked about who was explaining the rules of basketball to whom and several theories arose about the subject of conversation: "He is explaining to her that Christmas might be a little lighter this year, in terms of gifts, because of Ippei." In a separate post, , the legend and partner, also joined the conversation: "It's nice to see World Series champion and National League MVP Shohei Ohtani with his wife at the Lakers game tonight!"Reminder to Join Olin Corporation's Investor Day on December 12, 2024

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Former Florida congressman Matt Gaetz has withdrawn as President-elect Donald Trump’s pick for attorney general following scrutiny over a federal sex trafficking investigation. The Republican's announcement came one day after meeting with senators in an effort to win their support for his confirmation to lead the Justice Department. Here's the latest: Taken together, there are a striking number of incidents in which potential high-ranking government officials in Trump’s second administration face allegations of sexual abuse. Here’s a look at some of the cases: President-elect Donald Trump: He was found liable by a New York City jury for sexual abuse and defamation and eventually ordered to pay the woman, E. Jean Carroll , $83 million in damages. Pete Hegseth, nominee for secretary of defense: A woman told police she was sexually assaulted in 2017 by Hegseth after he took her phone, blocked the door to a California hotel room and refused to let her leave, according to a detailed investigative report made public this week. Hegseth told police the encounter had been consensual and denies wrongdoing. Robert F. Kennedy Jr., nominee for secretary of health and human services: A woman who babysat for Kennedy and his second wife told Vanity Fair magazine he groped her in the late 1990s, when she was 23. Kennedy did not deny the allegation, telling a podcast: “I had a very, very rambunctious youth.” He texted the woman an apology after the story was published. Linda McMahon, nominee for secretary of education: A lawsuit filed last month alleges McMahon knowingly enabled sexual exploitation of children by a World Wrestling Entertainment employee as early as the 1980s. She denies the allegations. Elon Musk, Trump’s choice to lead the new Department of Government Efficiency: The CEO of Tesla and SpaceX was accused of sexual misconduct by a flight attendant contracted by SpaceX who worked on his private jet in 2016. He denied the claim. ▶ Read more about the allegations of sexual misconduct Among those who were seen as contenders before Gaetz was picked is former acting attorney general Matt Whitaker , who Trump chose earlier this week to serve as U.S. ambassador to NATO. Other names that were floated as potential attorney general nominees include Jeff Jensen, a former U.S. attorney for the Eastern District of Missouri, and Missouri Attorney General Andrew Bailey. Trump last week chose Todd Blanche , an attorney who led the legal team that defended the Republican at his hush money criminal trial , to serve as the second-highest ranking Justice Department official. Emil Bove, a former federal prosecutor, was chosen to be the principal associate deputy attorney general. An attorney who represents two women who say they were paid by Gaetz for sex says his clients are “relieved to have this chapter behind them.” “They’re grateful for the opportunity to move forward with their lives,” said Joel Leppard, whose clients testified before the House Ethics Committee. “They’re hoping that this brings final closure for all the parties involved.” Leppard revealed earlier this week details about his clients’ testimony to House Ethics Committee to release its report on the Gaetz investigation. Leppard said his clients were paid a total of $10,000 by the congressman. One of his clients testified that she saw Gaetz having sex with a 17-year-old at a party in 2017, while he was in Congress. Though Gaetz has withdrawn his name from consideration for attorney general, he isn’t Trump’s only appointee in hot water. A woman told police she was sexually assaulted in 2017 by Pete Hegseth after he took her phone, blocked the door to a California hotel room and refused to let her leave, according to a detailed investigative report made public late Wednesday. Hegseth, a former Fox News personality and Trump’s nominee to be defense secretary, told police at the time that the encounter had been consensual and denied any wrongdoing, the report said. Earlier today, Hegseth held a round of private meetings alongside incoming Vice President JD Vance in an attempt to shore up support and told reporters afterward: “The matter was fully investigated and I was completely cleared, and that’s where I’m gonna leave it.” ▶ Read more about the allegations against Hegseth In his Nov. 13 resignation letter to House Speaker Mike Johnson, Gaetz said, “I hereby resign, as United States Representatives for Florida’s First Congressional District, effective immediately, and I do not intend to take the oath of office for the same office in the 119th Congress, to pursue the position of Attorney General in the Trump Administration.” He transmitted a similar letter to Florida Gov. Ron DeSantis as the state began a special election process to fill the vacancy. Attorneys involved in a civil case brought by a Gaetz associate were notified this week that an unauthorized person accessed a file shared between lawyers that included unredacted depositions from a woman who said Gaetz had sex with her when she was 17 and a second woman who says she saw the encounter, according to attorney Joel Leppard. Leppard said that two women he represents told House Ethics Committee investigators that Gaetz paid them for sex on multiple occasions beginning in 2017 when Gaetz was in Congress. The files the person was able to access were part of a defamation case filed by a Gaetz associate against the former representative’s onetime political ally Joel Greenberg , who pleaded guilty in 2021 to sex trafficking of a minor, and admitted that he had paid at least one underage girl to have sex with him and other men. The apparent breach was first reported Tuesday by The New York Times. Gaetz has denied all the allegations. ▶ Read more about the apparent file breach Trump had announced last week that he’d chosen Todd Blanche, an attorney who’s defended him in some of his criminal cases, to serve as deputy attorney general. That’s the second highest ranking position at the Justice Department. A former federal prosecutor, Blanche has been a key figure defended him both in the New York hush money criminal trial that ended in a conviction in May, and the federal cases brought by Justice Department special counsel Jack Smith. Sen. Lindsey Graham of South Carolina said Thursday in a post on X that he believes the now-former congressman “will continue to contribute to our nation’s wellbeing for years to come.” Graham, a member of the powerful Senate Judiciary Committee, also said he looks forward to working with Trump “regarding future nominees to get this important job up and running.” The caption of the Instagram photo reads “The end of an era. No one loves America more than this guy.” The Florida representative was once embroiled in a sex trafficking investigation involving underage girls by the Justice Department, the very department President-elect Trump had tapped him to lead. Gaetz has vehemently denied any wrongdoing, and in February 2023 said the investigation ended with no federal charges against him.He was also being investigated by the House Ethics panel, but Republicans declined yesterday to release the committee’s findings over objections from Democrats in a split vote. ▶ Read more about the Justice Department’s investigation into Gaetz He had abruptly resigned from his congressional seat upon being nominated as attorney general amid a long-running House Ethics investigation into allegations of sexual misconduct, which was seen as a way to halt the probe. The House Ethics panel’s Republicans declined this week to release the committee’s findings into Gaetz over objections from Democrats in a split vote. But the committee did agree to finish its work and is scheduled to meet again Dec. 5 to discuss the matter. However, Gaetz did win re-election earlier this month for the new Congress which convenes Jan. 3. But it’s unclear if he would take office. There’s also been plans for a special election in Florida for his seat. “President Trump remains committed to choosing a leader for the Department of Justice who will strongly defend the Constitution and end the weaponization of our justice system,” said Karoline Leavitt, a spokesperson for the Trump-Vance transition team. In a message on his Truth Social network, Trump also said he was looking forward to seeing what Gaetz will do next after withdrawing as his pick. “He was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect,” Trump posted. “Matt has a wonderful future, and I look forward to watching all of the great things he will do!” Matt Gaetz has just withdrawn as President-elect Donald Trump’s pick for attorney general following continued scrutiny over a federal sex trafficking investigation that cast doubt on the former congressman’s ability to be confirmed as the nation’s chief federal law enforcement officer. The Florida Republican’s announcement came one day after meeting with senators in an effort to win their support for his confirmation to lead the Justice Department. Gaetz’s withdrawal is a blow to Trump’s push to install steadfast loyalists in his incoming administration and the first sign that Trump could face resistance from members of his own party.

By CHRISTINE FERNANDO CHICAGO (AP) — As Donald Trump’s Cabinet begins to take shape, those on both sides of the abortion debate are watching closely for clues about how his picks might affect reproductive rights policy in the president-elect’s second term . Trump’s cabinet picks offer a preview of how his administration could handle abortion after he repeatedly flip-flopped on the issue on the campaign trail. He attempted to distance himself from anti-abortion allies by deferring to states on abortion policy, even while boasting about nominating three Supreme Court justices who helped strike down the constitutional protections for abortion that had stood for half a century. In an NBC News interview that aired Sunday, Trump said he doesn’t plan to restrict medication abortion but also seemed to leave the door open, saying “things change.” “Things do change, but I don’t think it’s going to change at all,” he said. The early lineup of his new administration , including nominations to lead health agencies, the Justice Department and event the Department of Veterans Affairs, has garnered mixed — but generally positive — reactions from anti-abortion groups. Abortion law experts said Trump’s decision to include fewer candidates with deep ties to the anti-abortion movement could indicate that abortion will not be a priority for Trump’s administration. “It almost seems to suggest that President Trump might be focusing his administration in other directions,” said Greer Donley, an associate law professor at the University of Pittsburgh School of Law. Karen Stone, vice president of public policy at Planned Parenthood Action Fund , said while many of the nominees have “extensive records against reproductive health care,” some do not. She cautioned against making assumptions based on Trump’s initial cabinet selections. Still, many abortion rights groups are wary, in part because many of the nominees hold strong anti-abortion views even if they do not have direct ties to anti-abortion activists. They’re concerned that an administration filled with top-level officials who are personally opposed to abortion could take steps to restrict access to the procedure and funding. After Trump’s ambiguity about abortion during his campaign, “there’s still a lot we don’t know about what policy is going to look like,” said Mary Ruth Ziegler, a law professor at the University of California, Davis School of Law. That approach may be revealed as the staffs within key departments are announced. Trump announced he would nominate anti-vaccine activist Robert F. Kennedy Jr. to lead the Health and Human Services Department, which anti-abortion forces have long targeted as central to curtailing abortion rights nationwide. Yet Kennedy shifted on the issue during his own presidential campaign. In campaign videos, Kennedy said he supports abortion access until viability , which doctors say is sometime after 21 weeks, although there is no defined timeframe. But he also said “every abortion is a tragedy” and argued for a national ban after 15 weeks of pregnancy, a stance he quickly walked back. The head of Health and Human Services oversees Title X funding for a host of family planning services and has sweeping authority over agencies that directly affect abortion access, including the Food and Drug Administration and Centers for Medicare and Medicaid Services. The role is especially vital amid legal battles over a federal law known as EMTALA, which President Joe Biden’s administration has argued requires emergency abortion access nationwide, and FDA approval of the abortion pill mifepristone. Mini Timmaraju, president of the national abortion rights organization Reproductive Freedom for All, called Kennedy an “unfit, unqualified extremist who cannot be trusted to protect the health, safety and reproductive freedom of American families.” His potential nomination also has caused waves in the anti-abortion movement. Former Vice President Mike Pence , a staunch abortion opponent, urged the Senate to reject Kennedy’s nomination. Marjorie Dannenfelser, president of the national anti-abortion group Susan B. Anthony Pro-Life America, said the group had its own concerns about Kennedy. “There’s no question that we need a pro-life HHS secretary,” she said. Fox News correspondent Marty Makary is Trump’s pick to lead the FDA, which plays a critical role in access to medication abortion and contraception. Abortion rights groups have accused him of sharing misinformation about abortion on air. Russell Vought , a staunch anti-abortion conservative, has been nominated for director of the Office of Management and Budget. Vought was a key architect of Project 2025 , a right-wing blueprint for running the federal government. Among other actions to limit reproductive rights, it calls for eliminating access to medication abortion nationwide, cutting Medicaid funding for abortion and restricting access to contraceptive care, especially long-acting reversible contraceptives such as IUD’s. Despite distancing himself from the conservative manifesto on the campaign trail, Trump is stocking his administration with people who played central roles in developing Project 2025. Trump acknowledged that drafters of the report would be part of his incoming administration during the Sunday interview with NBC News, saying “Many of those things I happen to agree with.” “These cabinet appointments all confirm that Project 2025 was in fact the blueprint all along, and the alarm we saw about it was warranted,” said Amy Williams Navarro, director of government relations for Reproductive Freedom for All. Dr. Mehmet Oz , Trump’s choice to lead the Centers for Medicare and Medicaid Services, is a former television talk show host who has been accused of hawking dubious medical treatments and products. He voiced contradictory abortion views during his failed Senate run in 2022. Oz has described himself as “strongly pro-life, praised the Supreme Court decision overturning Roe v. Wade , claimed “life starts at conception” and referred to abortion as “murder.” But he also has echoed Trump’s states-rights approach, arguing the federal government should not be involved in abortion decisions. “I want women, doctors, local political leaders, letting the democracy that’s always allowed our nation to thrive to put the best ideas forward so states can decide for themselves,” he said during a Senate debate two years ago. An array of reproductive rights groups opposed his Senate run. As CMS administrator, Oz would be in a key position to determine Medicaid coverage for family planning services and investigate potential EMTALA violations. Related Articles National Politics | Trump promises to end birthright citizenship: What is it and could he do it? National Politics | In promising to shake up Washington, Trump is in a class of his own National Politics | Election Day has long passed. In some states, legislatures are working to undermine the results National Politics | Trump taps his attorney Alina Habba to serve as counselor to the president National Politics | With Trump on the way, advocates look to states to pick up medical debt fight As Florida’s attorney general, Pam Bondi defended abortion restrictions, including a 24-hour waiting period. Now she’s Trump’s choice for attorney general . Her nomination is being celebrated by abortion opponents but denounced by abortion rights groups concerned she may revive the Comstock Act , an anti-vice law passed by Congress in 1873 that, among other things, bans mailing of medication or instruments used in abortion. An anti-abortion and anti-vaccine former Florida congressman, David Weldon, has been chosen to lead the Centers for Disease Control and Prevention, which collects and monitors abortion data across the country. Former Republican congressman Doug Collins is Trump’s choice to lead the Department of Veterans Affairs amid a political battle over abortion access and funding for troops and veterans. Collins voted consistently to restrict funding and access to abortion and celebrated the overturning of Roe v. Wade. “This is a team that the pro-life movement can work with,” said Kristin Hawkins, president of the national anti-abortion organization Students for Life.of the person who killed UnitedHealthcare CEO Brian Thompson was a mystery, Americans grafted their own ideas about the gunman onto the little information available. Now that a person of interest in the case has been arrested, that imagined character is bumping up against the identity and writings of a named suspect, who appears to have left an extensive trail of book reviews, including for an anti-technology manifesto written by the Unabomber and treatises on managing back pain. Along with a three-page, handwritten manifesto reportedly in the possession of Luigi Mangione upon his arrest, those online traces may offer insight into the motives of a man accused of a killing that touched a nerve for Americans exhausted with profit-hungry health care companies. Much of the online chatter has centered on the book written by Ted Kaczynski, the man known as the Unabomber, who conducted a nearly 20-year campaign of mail bombings designed to reverse society’s accelerating technological revolution. “You may not like his methods, but to see things from his perspective, it’s not terrorism, it’s war and revolution.” “You may not like his methods, but to see things from his perspective, it’s not terrorism, it’s war and revolution,” an account bearing the name and likeness of Mangione wrote on Goodreads in a review of Kaczynski’s 1995 essay “Industrial Society and Its Future.” “Fossil fuel companies actively suppress anything that stands in their way and within a generation or two, it will begin costing human lives by greater and greater magnitudes until the earth is just a flaming ball orbiting third from the sun. Peaceful protest is outright ignored, economic protest isn’t possible in the current system, so how long until we recognize that violence against those who lead us to such destruction is justified as self-defense.” The book’s anarchist-inflected take on modern society mocked leftists and has recently found a second life on TikTok among people who reject the traditional left-right divide. In 2021, The Baffler Kaczynski as an “unlikely unifying figure, embraced on TikTok by both jaded environmentalists and right-leaning doomer nihilists.” Elon Musk and Tucker Carlson . “He might not be wrong,” Musk said, of Kaczynski’s insistence that tech had been bad for society. Most Read Other books drawing Mangione’s interest included a mish-mash of self-help bestsellers, pop psychology analyses, and self-optimization volumes such as Tim Ferriss’s “The 4-Hour Workweek.” One of Mangione’s favorite books, judging by his glowing review, was a diagnosis called “What’s Our Problem?: A Self-Help Book for Societies” by blogger Tim Urban. The author said in his description of the book that it eschews “the usual left-center-right horizontal political axis” in favor of “a vertical axis that explores how we think, as individuals and as groups.” “I believe this book will go down in history as one of the most important philosophical texts of the early 21st century,” Mangione wrote. Urban took to Twitter Monday afternoon with a apparently directed at Mangione’s appreciation for his writing: “Very much not the point of the book.” Join Our Newsletter Original reporting. Fearless journalism. Delivered to you. While Kaczynski’s book provides an obvious possible influence for political violence, other books in Mangione’s reading history also stood out given his alleged target. They included at least three tomes about managing pain: “Becoming a Supple Leopard: The Ultimate Guide to Resolving Pain, Preventing Injury, and Optimizing Athletic Performance,” “Crooked: Outwitting the Back Pain Industry and Getting on the Road to Recovery,” and “Back Mechanic.” A Twitter account bearing Mangione’s name featured an X-ray of a back with a surgically implanted medical device. Details were beginning to leak out Monday about a manifesto that Mangione allegedly had on his person when he was arrested in Altoona, Pennsylvania. “These parasites had it coming,” one line in the document said, according to a police official who . “I do apologize for any strife and trauma, but it had to be done.” New York Police Department Chief of Detectives Joseph Kenny said the NYPD did not yet have possession of the full, three-page document but that it appeared to betray “some ill will towards corporate America.”

GUANGZHOU, China, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Highest Performances Holdings Inc. HPH ("HPH" or the "Company"), today announced that Mr. Youjie Kong has decided to resign from the Board as director due to personal reasons, effective from November 25, 2024. The resignation of Mr. Kong did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices. The Company takes this opportunity to express its appreciation to Mr. Kong for his dedicated service to the Company. About HPH Founded in 2010 and formerly known as Puyi Inc., we have evolved with a vision to become a leading provider of intelligent technology-driven family and enterprise services. Our mission is to enhance the quality of life for families worldwide by leveraging two primary driving forces: technological intelligence and capital investments. We are dedicated to investing in high-quality enterprises with global potential, focusing on areas such as asset allocation, education and study tours, healthcare and elderly care, and family governance. We currently hold controlling interests in two leading financial service providers in China. The first is AIX Inc., a technology-driven independent financial service platform traded on the Nasdaq. The second is Puyi Fund Distribution Co., Ltd., an independent wealth management service provider. Highest Performances Holdings Inc., formerly known as Puyi Inc., was renamed on March 13, 2024 to reflect its strategic transformation. Forward-looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When HPH uses words such as "may", "will", "intend", "should", "believe", "expect", "anticipate", "project", "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from HPH's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: HPH's ability to obtain proceeds from the Agreement; HPH's goals and strategies; HPH's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the third-party wealth management industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets HPH serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by HPH with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in HPH's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov . HPH undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Highest Performances Holdings Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

MAYBE NEXT YEAR Deloitte says the Southeast Asian initial public offerings market in general was tepid in 2024, with total capital raised reaching its lowest in nine years. —INQUIRER FILE PHOTO Once, in the early months of 2024, the Philippine Stock Exchange (PSE) made a bold move, targeting six initial public offerings (IPOs) for a total equity deal of P40 billion. And for a while there, the bourse seemed to be performing as analysts expected. In September, the benchmark Philippine Stock Exchange Index (PSEi) even managed to charge into the bull territory and closed as high as 7,500 after the Bangko Sentral ng Pilipinas (BSP) started its long-awaited easing cycle. But now, the local stock barometer seems to have gone back to levels seen when the market was at its weakest in 2024. READ: 10 potential IPOs firing up stock market in 2025 From enjoying the view at its peak of 7,500, the PSEi is now settling near the bottom of its uphill climb after falling by around 12 percent in just two months. This downfall has made it less attractive for companies, particularly the big names, to pursue an IPO before the year ends. Global advisory firm Deloitte found in a report that the case was not confined to the Philippines alone. In fact, Deloitte says the Southeast Asian IPO market in general remained tepid in 2024, with the total capital raised reaching its lowest in nine years. The region saw 122 IPOs in the first 10 months of the year worth $3 billion. This is down from 163 IPOs in 2023 worth $5.8 billion. The Philippines did not fare well versus its neighbors: the country only saw three IPOs, while Malaysia accounted for 46 IPOs in the region. Indonesia had 39, and Thailand saw 29 companies go public. Manila’s three IPOs—OceanaGold Philippines Inc. in May, Citicore Renewable Energy Corp. in June, and NexGen Energy Corp. in July—totaled P11.86 billion in proceeds. The giants, such as the SM Group’s real estate investment trust and Ayala-backed e-wallet GCash, opted out of a 2024 IPO. PSE president Ramon Monzon himself admitted that the year was challenging for the bourse, citing high interest rates early in 2024 and the stock market’s resulting volatility as among the deterrents for IPO candidates. But why is it hard to make the market attractive for Philippine corporations? Wendy Estacio-Cruz, research head at Unicapital Securities Inc., notes that “several headwinds” emerged, including the political leadership shift in the United States. “This could affect the inflation trend due to potential tariffs. As a result, the US [Federal Reserve] and the BSP are now anticipating a slower pace of interest rate cuts, which dragged the index,” Cruz says in a message. As it is, the BSP cut rates for overnight borrowing thrice in 2024 for a total of 75 basis points to 5.75 percent. While there is room for three quarter-point rate cuts in 2025, experts say investors are still wary of US President-elect Donald Trump’s protectionist policies. “This year’s market narrative was shaped largely by a tug-of-war between persistent macro uncertainties and selective growth stories,” says Jayniel Carl Manuel, equities trader at Seedbox Securities Inc. Indeed, not all companies benefited from interest rate cuts. In its latest Philippine Market Strategy Report, COL Financial Group Inc. points out that listed companies grew slower in the first nine months of 2024 versus the previous year. During the period, these firms grew by 5 percent against 10.5 percent in the first quarter and 9.6 percent in the first semester. While property firms are usually among those that cheer lower borrowing costs, President Ferdinand Marcos Jr.’s ban on Philippine offshore gaming operators offset growth, according to Manuel. “With a shift in policy leading to their reduced footprint, that once-solid source of demand has faded, leaving developers to contend with high vacancy rates and cooling investor interest,” he adds. The COL report likewise notes that consumer firms “delivered the worst performance” among all the sectors due to high inflation. Banks had the opposite fate. As of the January to September period, nearly all banks listed on the PSE saw record-high earnings, with powerhouses BDO Unibank Inc., Bank of the Philippine Islands and Metropolitan Bank and Trust Co. all expecting to shatter their full-year record. But despite the sour turn of events in 2024, the PSE and experts alike are seeing a better 2025 ahead. Monzon says the anticipated easing inflation, interest rate cuts and the PSE’s upcoming products may be enough to entice investors back into equities. The President expects Philippine equities to grow next year despite high anxiety over the US elections. According to Monzon, they are targeting a 52-percent surge in capital raised from the market to P120 billion. Meanwhile, Cruz cautions that the PSEi may continue correcting “for some time.” “We recommend investors to keep some cash or assets in reserve, ready to take advantage of opportunities when market conditions improve,” she says. Still, Unicapital is keeping its 8,000 index target, driven by a projected 10-percent growth in corporate earnings. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Manuel adds: “As we step into 2025, a more optimistic tone may emerge. If inflation remains contained, reforms progress smoothly, and consumer sentiment picks up, then the property market’s excess inventories could gradually clear, reducing a key drag on investor sentiment.”LABATT INVESTS $5.47 MILLION TO EXPAND FLEET IN QUEBEC

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Co-founder of UK engineering giant Renishaw Sir David McMurtry dies at 84 By JESSICA CLARK Updated: 21:43, 9 December 2024 e-mail View comments The billionaire co-founder of British engineering firm Renishaw has died. Sir David McMurtry, who set up the group in 1973, was 84. The Irish-born businessman, who lived in Gloucestershire, retired as executive chairman in June this year but stayed on the board as a non-executive director. Interim chairman Sir David Grant said yesterday: ‘David was a uniquely talented engineer and his curiosity and drive helped to create a globally respected engineering company. His legacy will live on through the culture of innovation he helped to create in Renishaw. The board’s deepest sympathies are with David’s wife and family.’ Talent: Sir David McMurtry (pictured) set up Renishaw in 1973. He retired as executive chairman in June this year but stayed on the board as a non-executive director RELATED ARTICLES Previous 1 Next BP spins off its windfarm business into joint venture with... Rothschild is making waves once again: Former playboy gets... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account Renishaw supplies high-tech laser components used in drones and self-driving cars, as well as 3D printers that can make medical implants and false teeth. McMurtry, who was awarded a CBE for his contributions to British science and technology in 1994, invented more than 150 of the FTSE 250 company’s products. He was also on 47 patents at engineering giant Rolls-Royce, where he worked before helping to set up Renishaw with co-founder John Deer. The founders still own more than half of the company. McMurtry is survived by his wife and three children. DIY INVESTING PLATFORMS AJ Bell AJ Bell Easy investing and ready-made portfolios Learn More Learn More Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas Learn More Learn More interactive investor interactive investor Flat-fee investing from £4.99 per month Learn More Learn More Saxo Saxo Get £200 back in trading fees Learn More Learn More Trading 212 Trading 212 Free dealing and no account fee Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. Compare the best investing account for you Share or comment on this article: Co-founder of UK engineering giant Renishaw Sir David McMurtry dies at 84 e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.Jayden Daniels dazzles again as Commanders clinch a playoff spot by beating Falcons 30-24 in OT

John Stankey to Update Shareholders at UBS Global Media & Communications Conference on December 10By SARAH PARVINI, GARANCE BURKE and JESSE BEDAYN, Associated Press President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. While immigration officials have used the tech for years, an October letter from the Department of Homeland Security obtained exclusively by The Associated Press details how those tools — some of them powered by AI — help make life-altering decisions for immigrants, including whether they should be detained or surveilled. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency’s supervision. The letter, sent by DHS Chief Artificial Intelligence Officer Eric Hysen to the immigrant rights group Just Futures Law, revealed that the score calculates the potential risk that an immigrant — with a pending case — will fail to check in with Immigration and Customs Enforcement officers. The algorithm relies on several factors, he said, including an immigrant’s number of violations and length of time in the program, and whether the person has a travel document. Hysen wrote that ICE officers consider the score, among other information, when making decisions about an immigrant’s case. “The Hurricane Score does not make decisions on detention, deportation, or surveillance; instead, it is used to inform human decision-making,” Hysen wrote. Also included in the government’s tool kit is a mobile app called SmartLINK that uses facial matching and can track an immigrant’s specific location. Nearly 200,000 people without legal status who are in removal proceedings are enrolled in the Alternatives to Detention program, under which certain immigrants can live in the U.S. while their immigration cases are pending. In exchange, SmartLINK and GPS trackers used by ICE rigorously surveil them and their movements. The phone application draws on facial matching technology and geolocation data, which has been used before to find and arrest those using the app. Just Futures Law wrote to Hysen earlier this year, questioning the fairness of using an algorithm to assess whether someone is a flight risk and raising concerns over how much data SmartLINK collects. Such AI systems, which score or screen people, are used widely but remain largely unregulated even though some have been found to discriminate on race, gender or other protected traits. DHS said in an email that it is committed to ensuring that its use of AI is transparent and safeguards privacy and civil rights while avoiding biases. The agency said it is working to implement the Biden administration’s requirements on using AI , but Hysen said in his letter that security officials may waive those requirements for certain uses. Trump has publicly vowed to repeal Biden’s AI policy when he returns to the White House in January. “DHS uses AI to assist our personnel in their work, but DHS does not use the outputs of AI systems as the sole basis for any law enforcement action or denial of benefits,” a spokesperson for DHS told the AP. Trump has not revealed how he plans to carry out his promised deportation of an estimated 11 million people living in the country illegally. Although he has proposed invoking wartime powers, as well as military involvement, the plan would face major logistical challenges — such as where to keep those who have been detained and how to find people spread across the country — that AI-powered surveillance tools could potentially address. Karoline Leavitt, a spokesperson for Trump, did not answer questions about how they plan to use DHS’ tech, but said in a statement that “President Trump will marshal every federal and state power necessary to institute the largest deportation operation” in American history. Over 100 civil society groups sent a letter on Friday urging the Office of Management and Budget to require DHS to comply with the Biden administration’s guidelines. OMB did not immediately respond to a request for comment. Just Futures Law’s executive director, Paromita Shah, said if immigrants are scored as flight risks, they are more likely to remain in detention, “limiting their ability to prepare a defense in their case in immigration court, which is already difficult enough as it is.” SmartLINK, part of the Intensive Supervision Appearance Program, is run by BI Inc., a subsidiary of the private prison company The GEO Group. The GEO Group also contracts with ICE to run detention centers. ICE is tight-lipped about how it uses SmartLINK’s location feature to find and arrest immigrants. Still, public records show that during Trump’s first term in 2018, Manassas, Virginia-based employees of BI Inc. relayed immigrants’ GPS locations to federal authorities, who then arrested over 40 people. In a report last year to address privacy issues and concerns, DHS said that the mobile app includes security features that “prohibit access to information on the participant’s mobile device, with the exception of location data points when the app is open.” But the report notes that there remains a risk that data collected from people “may be misused for unauthorized persistent monitoring.” Such information could also be stored in other ICE and DHS databases and used for other DHS mission purposes, the report said. On investor calls earlier this month, private prison companies were clear-eyed about the opportunities ahead. The GEO Group’s executive chairman George Christopher Zoley said that he expects the incoming Trump administration to “take a much more aggressive approach regarding border security as well as interior enforcement and to request additional funding from Congress to achieve these goals.” “In GEO’s ISAP program, we can scale up from the present 182,500 participants to several hundreds of thousands, or even millions of participants,” Zoley said. That same day, the head of another private prison company told investors he would be watching closely to see how the new administration may change immigrant monitoring programs. “It’s an opportunity for multiple vendors to engage ICE about the program going forward and think about creative and innovative solutions to not only get better outcomes, but also scale up the program as necessary,” Damon Hininger, CEO of the private prison company CoreCivic Inc. said on an earnings call. GEO did not respond to requests for comment. In a statement, CoreCivic said that it has played “a valued but limited role in America’s immigration system” for both Democrats and Republicans for over 40 years.

Showcasing the Evolution of the Company’s Ultra-Premium Brand, Advanced Lineup Delivers Enhanced User Experiences and Enriched, Connected Living SEOUL, South Korea , Dec. 30, 2024 /PRNewswire/ — LG Electronics (LG) is unveiling its expanded second-generation LG SIGNATURE lineup at CES 2025 in Las Vegas ( January 7-10 ). Exhibited under the Live Beyond brand theme, the latest LG SIGNATURE range features exceptional products that integrate cutting-edge technology and sophisticated design to deliver enhanced usability, seamless connectivity and an unparalleled smart home experience. The second-generation LG SIGNATURE lineup builds on its signature minimalist aesthetic and exceptional performance with AI-driven features and intuitive functionality. This new wave of appliances comprises the LG SIGNATURE French Door Refrigerator with T-OLED door panel, LG SIGNATURE Smart InstaViewTM Over-the-Range Microwave and Slide-in Double Oven Induction Range, LG SIGNATURE Dishwasher, LG SIGNATURE Washer & Dryer, and the LG SIGNATURE Washing Machine and Dryer pair. Taste Beyond: Redefining the Kitchen The 36-inch Smart InstaView French Door Refrigerator offers a differentiated kitchen experience with its remarkable and fully transparent T-OLED display embedded in the upper right door. This dual-purpose display serves as both a digital touch interface and a Dual InstaView panel, allowing users to conveniently manage the refrigerator and view its contents without opening the door. It can also display mesmerizing hologram-like visuals, blending the virtual with the real in a sublime fusion of art and high technology. For added ambiance, the refrigerator provides access to a curated music playlist * that lets users enjoy smooth, atmospheric beats whenever they are in the kitchen. The refrigerator’s ThinQTM Food management system and a built-in AI camera elevate convenience, automatically recognizing stored food items, suggesting recipes based on available ingredients and user preferences, and tracking inventory and expiration dates. These innovations streamline food management, menu planning and meal preparation, saving users time and making the kitchen a truly connected and dynamic space. The LG SIGNATURE Over-the-Range Microwave and Slide-in Double Oven Induction Range enhance the culinary experience with their versatile cooking capabilities. The microwave is equipped with three built-in cameras for real-time cooking monitoring and time-lapse creation, capturing meals’ journeys from the oven to the table. The induction range, powered by Gourmet AI technology, identifies ingredients and provides helpful recipe suggestions. The new LG SIGNATURE microwave not only excels in cooking and reheating but also redefines its category by delivering an immersive entertainment experience right in the kitchen. Featuring a 27-inch Full-HD touchscreen display with InstaView, built-in speakers and Wi-Fi connectivity, it enables users to enjoy a variety of entertainment content while they cook. The screen also provides access to the LG ThinQ Smart Home Dashboard, allowing users to control all LG AI appliances and compatible Matter and Thread devices in the home. In addition, when paired with the induction range, the microwave’s LCD display conveniently shows the cooking progress of dishes in the range, eliminating the need to bend down and check the oven manually. The LG SIGNATURE Dishwasher is designed to fit perfectly with existing cabinetry, creating a clean, built-in look for a sleek, modern kitchen. Its innovative pop-out handle sits flush with the door when not in use and automatically “pops out” when a hand approaches. The new dishwasher is equipped with LG’s exclusive and highly-efficient QuadWashTM Pro and Dynamic Heat DryTM technologies. Live Beyond: Seamless Laundry Solutions The second-generation LG SIGNATURE lineup also offers exceptional advancements in laundry care. Featuring the LG SIGNATURE Washer & Dryer and 29-inch LG SIGNATURE Washing Machine and Dryer pair, the new laundry lineup leverages LG’s Artificial Intelligence Direct DriveTM (AI DDTM) 2.0 for precise fabric care, and inverter heat pump technology for effective, low-temperature drying. Each models is equipped with a 7-inch LCD touchscreen for easy control. The LG SIGNATURE zone at CES 2025 will feature an “ideal lifestyle” space highlighting the second-generation lineup in settings like a living room, laundry room and kitchen. In collaboration with premium Italian furniture brand Molteni&C, LG will pair its technologically-advanced products with Molteni&C’s exquisite designs. Visitors will also experience the LG ThinQ ON AI home hub in action, demonstrating the ease and efficiency of the AI Home lifestyle. “The expanded second-gen LG SIGNATURE lineup seamlessly combines advanced technology with elegant, modern design to deliver a smarter, more efficient luxury home lifestyle,” said Lyu Jae-cheol , president of the LG Home Appliance Solution Company. “Through the flawless fusion of state-of-the-art smart home, AI and connectivity technologies, we will continue to provide transformative customer experiences that go beyond expectations.” Visitors to CES 2025 from January 7-10 can explore the new additions to the second-generation LG SIGNATURE lineup at LG’s booth (#15004, Las Vegas Convention Center). * LG SIGNATURE refrigerator and LG SIGNATURE Over-the-Range microwave come with the “essential;” app pre-installed. essential; is a music curation brand operated by NHN Bugs, a South Korean music streaming service. About LG Electronics Home Appliance Solution Company The LG Home Appliance Solution Company (HS) is a global leader in home appliances and AI home solutions. By leveraging industry-leading core technologies, the HS Company is committed to enhancing consumers’ quality of life and promoting sustainability. The company develops thoughtfully designed kitchen and living appliance solutions and has recently integrated LG’s Robot Business Division to incorporate advanced robot technologies into its home solutions. Together, these products offer enhanced convenience, exceptional performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LGnewsroom.com . View original content to download multimedia: https://www.prnewswire.com/apac/news-releases/lg-presents-live-beyond-with-expanded-second-generation-lg-signature-lineup-at-ces-2025-302340011.html SOURCE LG Electronics, Inc.FORT LAUDERDALE, Fla. (AP) — A boat explosion at a South Florida marina has left one person dead and five others injured, officials said. The explosion occurred Monday night at the Lauderdale Marina, Fort Lauderdale Fire Rescue said in a social media post. Rescue workers transported five people to local hospitals, three with traumatic injuries, officials said. A sixth person was found dead in the water several hours later by the Broward Sheriff's Office. Fire rescue officials said they didn't immediately know what caused the explosion.Did you know with an ad-lite subscription to Mansfield and Ashfield Chad, you get 70% fewer ads while viewing the news that matters to you. And he also revealed that top scorer Lee Gregory will be out for a few weeks with his knee injury – another blow for a side that has now lost three games in a row, despite fine displays in all three. “Lee's knee is still sore and I think he will be out for a few weeks. Advertisement Advertisement “That on the back of how it's going on the pitch is how it goes. “Losing him for a while will be a blow, though I thought Lucas Akins was fantastic tonight.” Wycombe stole an undeserved 10th win in a row when Luke Leahy's 93rd minute far post cross floated over everyone and then dipped over into the net. Stags had defended comfortably all night and Clough said: “Everyone is devastated in there. It's not just the defeat, it is the manner of it. It is just cruel. Advertisement Advertisement “To score with a fluke in the 93rd minute after we had worked as hard as we did and played as well as we did tonight is just unbelievable. “That is three good performances in a row against three good sides now and three defeats. “We could have won all three, everything was there. It doesn't half get to you. “I don't think our supporters could believe it either when the ball went in. Advertisement Advertisement “But we can do nothing about a fluke going in in the 93rd minute. “It's all about fine margins and nothing highlights that more than tonight. “We must keep doing what we are good at.” He continued: “We were aware of Wycombe's strengths, having won nine on the spin, and Christy Pym didn't have a save to make in that second half. “The reason they have won nine in a row is that they get breaks like that in the 93rd minute! We can't seem to get one. Advertisement Advertisement “We need quality, yes, But more than anything we just need a break and a fair run of the ball. “He was crossing to the far post and we had men there to deal with it as we had all game and it just floated into the far corner. “If someone rips you to pieces and puts one in the top corner you hold your hands up. “It was us pressing at the end trying to win the game. “ can kick you where it hurts and I hope our fans are proud of the way we came and played again.” Advertisement Advertisement Stags were also without Louis Reed and tonight. “Louis Reed is ill with the bug that's been going round and Stephen Quinn just got a couple of knocks on Saturday and I didn't see the point in bringing him down here,” said Clough. Stags now head to Stevenage on Saturday in the FA Cup Second Round.

BRUSSELS , Dec. 24, 2024 /PRNewswire/ -- In an upcoming EU Reporter interview , M. Shigeo Katsu , Founding President of Nazarbayev University (NU) and a key architect of Kazakhstan's education reforms, will address the escalating scandal surrounding financial mismanagement at the country's flagship higher education institution. The crisis gained public attention following the announcement of the state audit results of Nazarbayev University. The revelations have sparked widespread concerns about transparency and oversight at one of Central Asia's most prestigious universities. Adding to the controversy are allegations of financial mismanagement involving the New Generation Foundation, the Jusan Group — entities originally established to ensure the long-term financial sustainability of NU and Nazarbayev Intellectual Schools (NIS). Questions have also been raised about the state of affairs at NU's Social Development Fund. Reports suggest that funds may have been misappropriated, triggering outrage from students, educators, and civil society. In response, a student initiative group from Nazarbayev University issued an open letter demanding the release of both the state audit and NU's internal audit of the Social Development Fund. The letter also calls for greater accountability, enhanced transparency, and the protection of students' rights. This appeal reflects mounting frustration with the university's leadership and a growing demand for immediate corrective action. Shigeo Katsu's interview will shed light on these unfolding developments. As a former leader of NU, Katsu is uniquely positioned to analyze the root causes of the crisis, critique the university's response, and discuss the broader implications for Kazakhstan's education sector. The full interview can be found here: https://www.eureporter.co/kazakhstan-2/2024/12/23/the-battle-for-nazarbayev-universitys-future-shigeo-katsu-on-financial-mismanagement-and-accountability/ The Battle for Nazarbayev University's Future: Shigeo Katsu on Financial Mismanagement and Accountability In light of recent controversies surrounding the financial governance of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS), an open letter from concerned students has surfaced, addressing the troubling mismanagement of funds and alleged conflicts of interest. The letter highlights a series of financial decisions that led to the unraveling of key institutions meant to ensure the long-term stability of NU and NIS. The students are particularly concerned about the fate of the Jusan Group and the Nazarbayev Fund (NGF), which were once positioned to secure the financial future of these two leading educational institutions. Instead, they allege that significant funds were misappropriated and whole organizations lost, leading to the collapse of what was once a promising financial structure. In response, Shigeo Katsu , the Founding President of Nazarbayev University, has also written an open letter , received by EU Reporter, addressing the ongoing crisis and providing his perspective on the unfolding situation. In his letter, Katsu outlines the rationale of engagement in the financial sector and the erosion of the initial vision for NU, highlighting the role of key financial institutions like Jusan Bank and the NGF in securing a stable future for the university and NIS. He draws attention to the series of decisions that led to the loss of the former and calls for urgent remedial actions to prevent further damage to the institutions' credibility and financial stability . In this exclusive interview with EU Reporter , Shigeo Katsu , the Founding President of Nazarbayev University, sheds light on these pressing issues. He discusses the audit findings, the role of Jusan Bank , and what must be done to restore trust and secure the future of NU and NIS. Bio: Mr. Shigeo Katsu is the Founding President of Nazarbayev University. He held the position of President from December 2010 until June 2023 . He was Chair of the Board of Trustees of an affiliated secondary school system, the Nazarbayev Intellectual Schools, and of the University's hospital system. Prior to the assignments in Kazakhstan , over the course of a 30-year career at the World Bank, Mr. Shigeo Katsu held various positions including leading financial sector reform support for China , Director for Cote d'Ivoire , and Vice President for Europe and Central Asia . After his retirement from the World Bank, he served for a few years on the US board of a youth-oriented international development NGO. Between 2011 and 2015 he was an Advisory Panel member of the ASEAN+3 Macroeconomic Research Office (AMRO). Questions: - We have exclusively published your open letter and anticipate that it will generate a significant response. What drove you to write it, particularly in light of the misuse of funds intended to ensure the long-term financial stability of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS)? The decision to write the open letter was not made lightly. It was driven by a profound sense of responsibility to the students, faculty, and broader community of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS). These institutions were established with a vision to create world-class educational hubs in Kazakhstan and establish a center of excellence for academic research. Ensuring their financial independence and long-term stability is a core requirement to achieve the two institutions' mission. However, recent developments revealed through state and internal audits have exposed serious breaches of trust. The misuse of funds from entities like the University's Social Development Fund, New Generation Foundation, and Jusan Group directly threatens the sustainability of NU and NIS. These funds were meant to build up and guarantee the financial security of the institutions. Instead, we now see signs of embezzlement, mismanagement, and a concerning lack of accountability. The role played by key figures like the directors and executives of NGF, of Aslan Sarinzhipov (Executive Vice President of NU, a former Minister of Education) and Kadisha Dairova (Vice President for Student Affairs and International Cooperation, Nazarbayev University) only adds to the gravity of the situation. By writing the letter, my goal was to bring transparency to the issue and to mobilize public attention and international scrutiny. NU and NIS were founded on principles of meritocracy, transparency, and academic freedom. If we allow these values to be compromised, we risk undoing more than a decade of progress. The letter serves as a call for accountability, reform, and most importantly, protection of the future of Kazakhstan's youth. - Many students and alumni of NU have expressed their concern over the lowering of admission standards and the shift away from international standards. How do you assess these changes, and do you see them as diverging from the original vision for NU? NU was conceived as a model of excellence , designed to meet international standards in research, teaching, and governance. One of its founding principles was merit-based admission , which ensured that students were selected solely based on their ability and potential. This meritocratic foundation was not only an academic principle but a reflection of NU's mission to transform Kazakhstan's education system. Students, alumni, faculty and staff have worked hard to build NU's name. Now students, alumni and parents are rightly concerned that the lowering of admission standards undermines this mission and risks eroding the university's reputation both domestically and internationally. Such changes create the perception that NU is moving away from its original vision of being a world-class institution. To restore confidence, NU must reaffirm its commitment to international standards, transparency, and academic rigor. Reverting to merit-based admissions and prioritizing excellence will send a clear message that the institution remains steadfast in its mission. In the Open Letter, I stated that in theory, a policy of opening the entry door wider, but then be resolutely strict in terms of progression and graduation based on academic integrity and merit could work. There are some cases globally. However, it can only work if there is a full commitment to integrity and merit, openness and transparency, and NU's original values are upheld. But unfortunately, what I have observed and heard about recent developments at NU does not make me optimistic. While administration is supposedly in a belt-tightening mode, new senior positions were created and filled with scant regard for a proper hiring process and qualification. Conflict of interest and restrictions on hiring family members have been discarded. These are just a few of the institutional changes that will inevitably bleed over into the academic fabric as well. Is this the example that senior management wants to present to our students? - Do you believe the current situation, where the financial foundations like the Social Development Fund and New Generation Foundation were mismanaged, reflects a broader crisis within Kazakhstan's governance and democracy? Absolutely, but to be fair, this corporate governance crisis is not just limited to Kazakhstan . The findings of the internal audit conducted by NU on the Social Development Fund (SDF) reveal a systemic absence of check and balances and accountability that extends beyond these institutions. Mismanagement and theft, such as those involving Aslan Sarinzhipov , have not only undermined NU and NIS but also shaken public trust in Kazakhstan's leadership. The financial institutions linked to NU and NIS—Nazarbayev Fund, New Generation Foundation, and Jusan Group — were designed to guarantee long-term financial stability for education in Kazakhstan , securing the futures of NU and NIS for decades. However, NGF and Jusan Group's systematic depletion and dismantling highlight the country's struggle with accountability and the need for deep structural reform. This mismanagement reflects broader governance failings—particularly a lack of oversight, transparency, and mechanisms to prevent conflicts of interest. I cannot pronounce myself on the current status of the NF, but I would not be surprised if one discovers similar shortcomings there as well. I had called for an audit for some time until my departure but was not successful. The impact extends beyond education, affecting the economic and social fabric of Kazakhstan . Addressing these issues requires not just reforms within these organizations but also a renewed commitment to governance, accountability, and emphasis on establishing the rule of law. - With the financial stability once promised by entities like the NGF now in jeopardy, how do you envision NU's future without those foundational guarantees? The original intent of the Nazarbayev Fund, New Generation Foundation, and Jusan Group was to provide NU and NIS with long-term financial stability. These entities were carefully designed to ensure that Kazakhstan's leading educational institutions could eventually operate in a manner less affected by state budget fluctuations. However, as the audits reveal, these institutions have been systematically mismanaged and looted, jeopardizing the financial future of NU and NIS. NU's survival and success now depend on a bold and transparent strategy. The first step is to rebuild trust with the public, students, and alumni by publishing the findings of both the state audit of NU and the internal audit of SDF. Then, those responsible are held accountable. Financially, NU must re-establish a diversified funding model. This includes rebuilding its endowments and enhancing additional revenue streams, such as a logical and sound tuition policy, executive education and collaboration with industry and business in the form of contract research. Transparency and governance reform will be key to attract donors and investors who believe in NU's mission and potential. - The Supreme Audit Chamber of Kazakhstan , in its state audit, reported the mismanagement of 73.5 billion tenge at Nazarbayev University , as well as allegations of half a billion tenge being used illegally. What is your opinion on this, and how should the university address governance and corruption issues? I have not had the opportunity to access the state audit report, thus it is difficult to comment. If the cited amount in mismanagement of 73.5 billion tenge over six years is true, it is scandalous. However, we do not know what the auditors' definition and criteria of mismanagement is. So, let's first find out what the report actually says. What is clear, however, is the outcome of a 2023 internal audit of NU's Social Development Fund (SDF) , and it is sobering. This SDF audit reveals a blatant disregard of corporate governance principles, where individuals entrusted with university resources prioritized personal gain over the mission of NU. The audit revealed that SDF management led by current NU Executive Vice President Aslan Sarinzhipov constructed an intricate web of subsidiary entities, including abroad, to systematically evade the oversight and control of the University. Funds ( over 14 billion tenge ) meant to assist students and faculty were used for personal gains of Aslan Sarinzhipov and questionable deals. Unfortunately, NU senior officials such as Vice President Kadisha Dairova participated in such schemes. When I voiced my concern earlier over the developments at NU, it is largely because of the track record of senior officials there. For NU to move forward, it must adopt zero-tolerance policies for corruption, demand accountability from those responsible, and reform its governance structures to ensure transparency. - Why do some claim there is a lack of funds for NU and NIS, despite the promises of financial stability from their endowment funds? The claim of a lack of funds is a direct consequence of the systematic looting of resources from the New Generation Foundation and Jusan Group. These entities were explicitly designed to contribute to NU and NIS' long-term financial sustainability against the backdrop of reduced state funding. However, as I described in my Open Letter, these innovative financial structures have been undermined by mismanagement, and outright theft. For instance: Rebuilding financial stability will require recovering stolen assets, reforming governance structures, and restoring public trust through full transparency and accountability. - Given the scale of financial mismanagement, what steps are necessary to ensure accountability for those involved, including senior officials? Accountability must begin with transparency. First, all findings from the audits should be made public, and independent investigations should be conducted to identify those responsible. No individual, regardless of rank or influence, should be above scrutiny. Second, legal consequences must follow where wrongdoing is found. Kazakhstan's legal system must demonstrate its independence and commitment to justice by prosecuting those who exploited these funds. Finally, governance reforms are essential. NU and its associated entities must implement stricter checks and balances, including external audits, whistleblower protections, and oversight committees with independent members. These steps are not just about rectifying past mistakes—they're about ensuring a future where such mismanagement cannot happen again. - The audit findings were just the beginning of uncovering deeper issues. Is there more information you can share about how these financial foundations were exploited and what this means for the future of NU and NIS? The patterns that have emerged—opaque transactions, conflicts of interest, and questionable settlements—are deeply troubling. For instance, the transfer of assets to private hands under unclear terms raises red flags about the intentions behind such decisions. This exploitation puts the futures of NU and NIS at risk. These institutions were designed to be financially independent, insulated from political and economic volatility. The weakening of their financial foundations erodes their ability to deliver on their missions and betrays the trust of the Kazakhstani people, who have invested in these institutions through their taxes. The way forward requires not just recovering lost assets but rebuilding the governance systems that allowed this exploitation to occur. - Nazarbayev University was founded with a mission to serve as a model for higher education in Kazakhstan , supported by funds like those from the Nazarbayev Fund and New Generation Foundation. What was your original vision for the university, and how did these funds play a critical role in realizing that vision? The vision for NU was bold: to create an institution that could compete with the best universities in the world while serving as a model for higher education reform in Kazakhstan . From day one, we envisioned NU as a hub for innovation, research, and leadership development—a place where the brightest minds could come together to solve the challenges of tomorrow. However, one should not forget that universities, in particular research universities, are a long-term endeavor. They are meant to educate and develop generations upon generations of leaders and professionals in a broad range of sectors, and thus contribute to the scientific, economic, and societal wealth of countries. Building a strong institution that can meet the test of time requires long-term and unwavering commitments to foundational values such as integrity, meritocracy, excellence, openness and transparency. But of course, strong financial support from government and other stakeholders is needed, especially in the first decades. Thus, it was understood that NU would be dependent on state funding (through education grants and capital investments) for the initial decades of its existence, while in the meantime it would develop other sources of financing such as through endowment funds, tuition, and contract research. The Nazarbayev Fund, NGF and the Jusan Group were integral parts of this vision. This overall construct allowed us to recruit world-class faculty, develop state-of-the-art facilities, and provide scholarships to talented students, many from underprivileged backgrounds. These resources weren't just financial—they were a vote of confidence in NU's mission and a recognition of the transformative power of education. The loss of these resources is a significant setback, but I do hope that NU can recover. The university must focus on rebuilding trust with its stakeholders—students, faculty, alumni, and the public. This starts with transparency in financial management and governance. Diversifying funding sources will be crucial. This includes rebuilding its endowments, engaging with the philanthropic community, and developing innovative revenue streams. But most importantly, NU must stay true to its mission and values. Financial stability is important, but it must never come at the cost of compromising the university's integrity or academic excellence. Restoring NU's credibility begins with transparency. For instance, the university must share the audit report with stakeholders, and openly address any major shortcomings highlighted in the audit, including financial mismanagement and governance failures. An independent investigation, followed by public disclosure of findings, will demonstrate a commitment to accountability. Next, an affirmation of NU's commitment to its foundational values and principles is needed. Next, institutional reforms are essential. This includes introducing stronger oversight mechanisms for financial and administrative processes, ensuring that governance boards are staffed with individuals of the highest integrity and independence, and that management, faculty and staff are recruited on the basis of transparency and merit. Fourth, NU must recommit itself to its founding mission of academic excellence. This means maintaining rigorous admission standards, prioritizing high-quality faculty recruitment, and fostering research that addresses national and global challenges. And finally, engaging the NU community—students, faculty, alumni, and parents—in shaping the university's path forward is critical. A transparent, inclusive process will rebuild trust and reaffirm NU's position as a leader in higher education. Educational reform is not just critical—it is foundational to Kazakhstan's economic recovery and long-term stability. The pandemic exposed vulnerabilities in education systems worldwide, but it also underscored the importance of adaptability, innovation, and resilience. For Kazakhstan , investing in education means investing in the future. A well-educated population is essential for diversifying the economy, attracting foreign investment, and fostering innovation. Institutions like NU and NIS must lead the way by setting benchmarks for quality and demonstrating the value of education in driving economic progress. Moreover, reform must focus on equity. Expanding access to high-quality education for students from socially vulnerable backgrounds will ensure that economic recovery benefits all segments of society, not just the privileged few. - How do you see the role of institutions like NU and NIS in not only providing quality education but also contributing to economic growth in Kazakhstan , especially when financial stability is threatened? NU and NIS are more than educational institutions—they are catalysts for economic growth and social development. By equipping students with critical thinking skills, technical expertise, and a global perspective, they prepare the workforce needed to diversify Kazakhstan's economy. Their impact extends beyond classrooms. NU's research contributes to solving national challenges in areas like energy, healthcare, and technology. Meanwhile, NIS fosters innovation and leadership at the secondary education level, creating a pipeline of talent that benefits universities and industries alike. To sustain this role, NU and NIS must secure their financial stability. This includes strengthening governance, diversifying funding sources, and forging partnerships with the private sector and international organizations. These institutions are vital to Kazakhstan's future, and their success is intertwined with the country's broader economic ambitions. - Could the model used by NU and supported by the Nazarbayev Fund be applied in other countries, or does it require a uniquely Kazakh approach to work effectively? The NU model is innovative, but its core principles—integrity, meritocracy, autonomy, and a focus on global best practices—are universally applicable. Many countries could benefit from establishing institutions that prioritize excellence and align with international standards. That said, successful implementation depends on adapting the model to local contexts. Kazakhstan's approach benefited from strong initial financial and political backing, and a vision that emphasized independence from political and state bureaucratic interference. Replicating this requires careful consideration of governance structures, funding mechanisms, autonomy and other values, and cultural factors. In countries where philanthropic traditions or financial resources are limited, the model may need to rely more on public-private partnerships or international collaborations. Ultimately, the NU experience demonstrates that ambitious goals in education are achievable with the right vision, leadership, and long-term commitment support. - What lessons do you hope others will learn from the experience of the NGF, Jusan Bank , and the financial turmoil at NU? The story of NU and its financial affiliates offers a critical lesson: no institution, no matter how noble its mission, is immune to mismanagement and corruption without strong governance. NU and NIS' financial pillars, namely the Nazarbayev Fund, NGF, Jusan Group, but also the SDF and NIS' Corporate Development Fund were designed to guarantee long-term financial sustainability, yet their exploitation demonstrates how quickly trust can be eroded when transparency and accountability are neglected. For any endowment fund or financial institution, the following lessons are clear: NU's experience is a cautionary tale but also an opportunity. By addressing these failures head-on, NU can emerge as a model for how institutions can learn from adversity and rebuild stronger than before. View original content to download multimedia: https://www.prnewswire.com/news-releases/nazarbayev-university-crisis-shigeo-katsu-demands-audit-transparency-302338886.html SOURCE EU ReporterDerek Stevens, far right, runs the front of house in this undated photo at Meemaws Hometown Kitchen in Union. Owners Elise and Derek Stevens don't have prices on their menu. Instead, they ask their customer to pay what they can afford. Elise Stevens stands in Meemaws Hometown Kitchen in Union ready to serve up food in this undated photo. Stevens removed the prices from the menu at her restaurant after watching people struggle due to financial reasons. Derek Stevens takes an order from three children in this undated photo at Meemaws Hometown Kitchen in Union. Owners Elise and Derek Stevens run a pay-what-you-can restaurant where children eat for free. Owners Elise and Derek Stevens run the pay-what-you-can restaurant Meemaws Hometown Kitchen in Union. The couple fund the business through social media and contributions from others. Derek Stevens, far right, runs the front of house in this undated photo at Meemaws Hometown Kitchen in Union. Owners Elise and Derek Stevens don't have prices on their menu. Instead, they ask their customer to pay what they can afford. Elise Stevens stands in Meemaws Hometown Kitchen in Union ready to serve up food in this undated photo. Stevens removed the prices from the menu at her restaurant after watching people struggle due to financial reasons. Derek Stevens takes an order from three children in this undated photo at Meemaws Hometown Kitchen in Union. Owners Elise and Derek Stevens run a pay-what-you-can restaurant where children eat for free. Owners Elise and Derek Stevens run the pay-what-you-can restaurant Meemaws Hometown Kitchen in Union. The couple fund the business through social media and contributions from others. UNION — Every day can feel like Christmas at Meemaws Hometown Kitchen. At least, that’s what Elise and her husband Derek “Big Red” Stevens strive to provide at their pay-what-you-can restaurant in Union. When the couple first opened Meemaws in June 2024 there were prices on the menu. But that changed. “After watching half of our community not be able to partake in what we were trying to give them because of financial reasons, I really started to pray about it and God really showed me that I was to take all the prices off my menu,” Stevens said. She said now at Meemaws Hometown Kitchen the children of Union eat for free. They get two free drinks and between one to two meals a day “Those that I know really need it, I feed them all three meals,” Stevens said. And the restaurant asks adults to pay what they can afford. When it comes time to settle the bill, customers have the freedom to choose what feels right for them. Payment can come in any form, Stevens said, whether that be dollars for their wallet, vegetables for their gardens or eggs from their backyard. Meemaws is closed through the end of January due to life circumstances. When the restaurant reopens Feb. 1, Arielle Star will be joining the team as the chef. Elise and Derek Stevens have a lot of plans for how Meemaws Hometown Kitchen can grow. They’d like to buy the building to help people in need of housing and also would like to include an arcade room that can be rented out on the same pay-what-you-can system. “So single moms or single dads that need to rent a place for their children to have a party can just come and do it,” she said. The couple also hopes to open a second location in LaCrosse, Washington, in the near future. Where’s the dough? Keeping the lights on at Meemaws means the Stevenses rely on social media. “We are funded by our social media and blessings from others,” Elise Stevens said. Before opening the restaurant, she was a social media influencer. However, she stepped away from the platform following the death of her grandmother. “My grandma had told me that if I was doing it for the wrong reasons, God would humble me. A few weeks later I was hacked and lost everything,” she said. During this break, Stevens started a journey that would eventually lead to the opening Meemaws. When she prayed seeking guidance on what she should do about the prices, she said God showed her she was meant to go back to social media and use her income to feed her community. Her husband said since restarting on social media they’ve had remarkable growth. “When she was hacked, she only had about a 100,000 followers, and in the six months that we’ve decided to start we’re now over half a million followers,” he said. How it all started Her children were the original catalyst to begin cooking. Stevens said two of her children were diagnosed with an autoimmune disorder, which affected their brains. She found the food they consumed daily was an important factor. “So, I went on this health journey and at the same time I was also going on a religious journey,” she said. It all started with sourdough. Then came the soups and breads, which she dropped off on people’s doorsteps and sold on Facebook. Next, Stevens started making dinner for her Bible study group. Three weeks later she told her husband she wanted to open a restaurant. He said it wasn’t feasible — they only had $20 in their bank account. “I said, ‘Well, God told me to start a restaurant, so it’s going to happen.’ The next week, we had a very nice woman from the community that heard I wanted to start a Jesus cafe, so she wrote a $5,000 check and told me to do it,” Stevens said. From December 2023 to April 2024 Stevens went from never stepping foot in the kitchen to getting ready to cook up meals at Meemaws. “I rarely went into the kitchen and part of my healing journey was the Lord sent me on this mission to take back the kitchen,” Stevens said. Trauma kept her from the kitchen Stevens said she was stabbed in the abdomen when she was four and a half months pregnant while cooking. Her abuser held her hostage, and when she escaped, life turned into a game of “cat and mouse.” A friend told Stevens she needed to hire someone to keep her safe, but as a single mother with no money, she didn’t know where to turn. Enter her husband for the last 16 years. The pair were friends when Stevens said she jokingly offered him $100 to be her bodyguard. He said OK and the rest is history. A few months later they were married. Stevens said people often ask her how she makes enough money through social media to run Meemaws. “I went through hell and I’ve seen the other side and I know that this is what God had intended for all of that. So, now I use my story and my trauma to feed my community,” she said. “I get to show my daughter, we went through this, but now look, we’re turning this around and not only are we helping people in our community, but we’re giving an outlet to people to be able to come if they need help.” Building a place of love Love is at the heart of what Elise and Derek Stevens are doing at Meemaws Hometown Kitchen. Their biggest goal is to build unity and connection within their community. They treat everyone like family. “We often say we just want to show the love of Jesus Christ to the world and that’s what it is for me. Unconditional love. I don’t care who you are or where you are in life, come to Meemaws and I will love you,” Stevens said. They hosted a free community dinner on Thanksgiving where they fed around 40 people in-house and sent everyone with an extra plate. They also fed two people working at gas stations, 18 truck drivers and took 20 meals to the local warming station. Next year they hope to double the number of people fed. The husband and wife duo are Christian, but they do not force their region on anybody. They want the restaurant to be a place where everyone feels they belong. “Memaws is to me what I always imagined a church would be,” she said. “It’s an open door policy. It’s everybody’s welcome, it’s everybody is loved, everybody's fed, everybody’s nurtured and it’s everybody scratches each other’s back.”

STUART, Fla. , Dec. 24, 2024 /PRNewswire/ -- Health In Tech, an Insurtech platform company backed by third-party AI technology, today announced the closing of its initial public offering of 2,300,000 shares of its Class A common stock at a public offering price of $4.00 per share, for gross proceeds of $9,200,000 , before deducting underwriting discounts, commissions, and estimated offering expenses. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Braless Jennifer Lopez, 55, shows off cleavage in plunging sequin gown as she cooks pasta at home after night out