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Stock market today: Dow logs 7-day losing streak as stocks wobble, yields jump before Fed meetingAPPALACHIAN STATE 66, SAM HOUSTON 63
Canada Post says it has removed the deadline for its Santa Claus letter program amid an ongoing national workers’ strike that has halted mail delivery leading up to the holiday season. Some 55,000 workers walked off the job more than two weeks ago, suspending mail service — and a program that helps deliver up to 1.5 million letters from Canadian kids to the North Pole each year. The postal service says in a statement that while the initial deadline to mail a letter to Santa with the iconic H0H 0H0 postal code was Dec. 6, it has now removed the deadline from its website. It says once operations resume, it will ensure that all letters make it to the North Pole and receive a reply, but it cannot guarantee delivery dates. Canada Post says since the program began more than 40 years ago, Santa’s North Pole post office has delivered replies to more than 45 million letters. During the strike, some communities have stepped up to deliver Santa’s mail themselves, offering their own local programming on social media to make sure letter writers receive a reply by Christmas. The strike entered its 19th day as the Black Friday and Cyber Monday shopping weekend came to a close. Canada Post said Monday it was waiting for the union to respond to a framework it presented over the weekend for reaching negotiated agreements. The Canadian Union of Postal Workers has said it’s reviewed the proposal. It said Canada Post has moved closer to the union’s position on some issues, but the framework “still remains far from something members could ratify.” One of the sticking points has been a push to add weekend delivery, with the union and Canada Post disagreeing over how the rollout would work. The federal government has been under pressure from the business community to intervene in the strike but has said that’s not in the cards.
Capital Increase in Genmab as a Result of Employee Warrant ExerciseFury as Labour were warned MONTHS ago by Vauxhall owners that electric car targets threatened Luton factory By DAVID CHURCHIL CHIEF POLITICAL CORRESPONDENT Published: 17:32 EST, 27 November 2024 | Updated: 17:32 EST, 27 November 2024 e-mail View comments Ministers came under fire today after admitting they were warned months ago that a Vauxhall factory could close because of electric car sales targets. Business Secretary Jonathan Reynolds told the Commons that the boss of Stellantis, which owns Vauxhall, first warned him just 10 days after the election in mid-July. But he failed to launch a review of the EV sales mandate until this week - too late to save the Luton-based factory and up to 1,100 jobs. During a heated debate in the Commons, the Tories ’ business spokesman Andrew Griffith jumped on the admission, accusing the Government of ‘killing’ jobs by dragging its feet. It came as industry figures obtained by the Daily Mail revealed that less than one in five EVs have been sold to private buyers this year, plunging Labour’s net-zero plans deeper into chaos. Between January and October just 19.8 per cent of EVs were sold to private motorists, with businesses buying the rest. This was down from 23.5 per cent for the same period last year. It is a major blow for the Government’s target of banning new petrol and diesel car sales by 2030 - which it brought forward five years - because convincing more than 30million drivers to make the switch to EVs is one of the biggest hurdles it faces. Business Secretary Jonathan Reynolds told the Commons that the boss of Stellantis, which owns Vauxhall, first warned him just 10 days after the election in mid-July. But he failed to launch a review of the EV sales mandate until this week Today the chairman of Ford in Britain, Lisa Brankin (pictured), said the car giant supports the Government’s net-zero ambitions but that there currently ‘isn’t customer demand’ for EVs The Vauxhall factory in Luton. Ministers came under fire today after admitting they were warned months ago that a Vauxhall factory could close because of electric car sales targets Today the chairman of Ford in Britain, Lisa Brankin, said the car giant supports the Government’s net-zero ambitions but that there currently ‘isn’t customer demand’ for EVs, telling BBC Radio 4’s Today programme: ‘Without demand the [sales] mandate just doesn’t work.’ She called on the government to create financial incentives for private buyers to stimulate demand. By contrast, businesses enjoy tax breaks if they buy EVs. Stellantis announced the closure of the Vauxhall van-making factory on Tuesday, putting around 1,100 jobs at risk. The firm said the sales targets, known as the ‘ZEV mandate’ and initially introduced by the previous Tory government, were partly to blame. Ministers are now expected to drastically water down the mandate. Quizzed in the Commons about how long he’d known that the Vauxhall factory was under threat, Mr Reynolds said he was informed ten days after the election by Stellantis’s CEO. Mr Griffith replied: ‘The government’s policy on zero-emission vehicles is a jobs killer. They say they have been talking [to Stellantis] since July. ‘So why, Mr Speaker, this panicked U-turn when it’s already too late?’ He added: ‘The closure of the Luton plant, I fear, is just a downpayment on jobs that will be lost under this Government’s relentless attacks on industry, its neglect of the realities of business and its failure to meet its promise not to raise taxes.’ Vauxhall factory in Luton. Stellantis announced the closure of the Vauxhall van-making factory on Tuesday, putting around 1,100 jobs at risk During a heated debate in the Commons, the Tories ’ business spokesman Andrew Griffith jumped on the admission, accusing the Government of ‘killing’ jobs by dragging its feet Mr Reynolds hit back, saying the attack was ‘the single most dishonest statement I have heard’ because it was the Tories who introduced the ZEV mandate. But he was accused of hypocrisy by Tory MP Saqib Bhatti, who pointed out that Mr Reynolds voted in favour of the sales mandate when it went through the Commons. Under the mandate, at least 22 per cent of new cars sold by manufacturers in the UK this year must have zero-emission capability. For vans it is 10 per cent. This is set to increase to 28 per cent next year and will rise each year over the next decade - to 80 per cent in 2030 and 100 per cent in 2035. Labour Share or comment on this article: Fury as Labour were warned MONTHS ago by Vauxhall owners that electric car targets threatened Luton factory e-mail Add comment
SINGAPORE, Nov. 23, 2024 (GLOBE NEWSWIRE) -- Trident Digital Tech Holdings Ltd ("Trident” or the "Company,” NASDAQ: TDTH), a leading digital transformation facilitator in the e-commerce enablement and digital optimization services market for small and medium enterprise (SMEs) in Singapore, today announced its unaudited financial results for the six months ended June 30, 2024. Initial Public Offering On September 11, 2024, the Company closed the initial public offering of 1,800,000 American Depositary Shares ("ADSs”) at a price to the public of US$5.00 per ADS. Each ADS represents eight Class B Ordinary Shares of the Company. Trident's ADSs began trading on the Nasdaq Capital Market on September 10, 2024, under the symbol "TDTH.” First Half of 2024 Financial Highlights Haiyan Huang, Trident's Chief Financial Officer, added, "Our first half results reflect the ongoing transformation of our business model and the investments we are making to position ourselves for future growth. Our total revenues declined 21.3% year over year as we sought to prioritize the shift towards our Web 3.0 e-commerce platform. Our strategic investments in the business transformation, while impacting our near-term profitability, are essential to ensuring the security, functionality, and overall success of our platform. We remain focused on the disciplined execution of our transition strategy as we seek to become a leader in Web 3.0 enablement.” Key Financial Results June 30 Unaudited Financial Results for the Six Months Ended June 30, 2024 Revenues June 30, The Company's revenues decreased by 21.27% from US$481,165 for the six months ended June 30, 2023, to US$378,839 for the six months ended June 30, 2024. The decrease was primarily due to the Company's strategic shift towards prioritizing its Web 3.0 e-commerce platform, Tridentity, a core growth area for its long-term vision in the future. As a result, the Company allocated fewer resources to its consulting and IT customization business. This realignment allows the Company to concentrate on expanding its presence in Tridentity, positioning Trident to capture new opportunities in a rapidly advancing digital ecosystem. Tridentity, the Company's flagship product, is a cutting-edge identity app built on blockchain technology, designed to provide secure single sign-on capabilities to integrated third-party systems in various industries, which was launched in December 2023. Tridentity currently includes three primary business modules: Tri-event for NFT (Non-Fungible Token) event ticketing, Tri-food for block-chain powered food delivery, and Tri-verse for virtual community connecting its users. As the platform remains in the development, optimization, and gradual testing stages, the Company generated only US$1,872 in revenue from providing technical support for selling event tickets on behalf of merchants through Tridentity for the six months ended June 30, 2024. Cost of Revenues June 30, The Company's cost of revenues decreased by 7.49% from US$389,569 for the six months ended June 30, 2023 to US$360,390 for the six months ended June 30, 2024, primarily due to a decrease in direct labor cost and miscellaneous costs in total of US$141,141 as a result of a significant reduction in headcount in response to lower business volumes and cost controls, and partially offset by an increase of service fees in the amount of US$111,962 as a result of the fulfillment of slightly increased number of management software solutions projects since the second half of 2023. Gross profit and margin As a result of the factors described above, the Company recorded a gross profit of US$0.09 million and US$0.02 million for the six months ended June 30, 2023 and 2024, representing a gross profit margin of 19.0% and 4.9%, respectively. The decrease in gross profit margin was primarily due to the decrease in IT consulting services with relatively higher gross margin and high proportion of revenues in the first half of 2023, which had no revenue in the first half of 2024. Operating expenses Selling expenses The Company's selling and marketing expenses slightly increased from US$253,343 for the six months ended June 30, 2023 to US$264,326 for the six months ended June 30, 2024. The increase was primarily due to hiring of additional business development personnel to support the launch, operation and promotion of Tridentity since the second half of 2023, which was partially offset by the decrease in marketing and advertising expenses due to the Company's strict control over discretionary spending. General and administrative expenses The Company's general and administrative expenses decreased slightly from US$1,551,710 for the six months ended June 30, 2023 to US$1,528,022 for the six months ended June 30, 2024. The decrease was primarily due to a decrease in professional service fees and other overhead expenses, which was partially offset by an increase in payroll expenses due to additional headcount in management. Research and development expenses The Company's research and development expenses decreased from US$192,855 for the six months ended June 30, 2023 to US$172,519 for the six months ended June 30, 2024, primarily due to the decrease in system development expenses for which there will be no further related expenses in 2024. This decrease was partially offset by the increase in payroll expenses, outsource service fees and the technical support expenses for Tridentity. Other income, net The Company's other income, net decreased from US$44,900 for the six months ended June 30, 2023 to US$19,391 for the six months ended June 30, 2024. The decrease was primarily due to the decrease of interest income and the depreciation of the Singapore dollar against the U.S. dollar in the Company's reporting currency translation from S$1.3523 to US$1.00 for the six months ended June 30, 2023 to S$1.3552 to US$1.00 for the six months ended June 30, 2024, leading to a decrease in unrealized gain as the foreign currency exposures are liabilities. About Trident Trident is a leading digital transformation facilitator in the e-commerce enablement and digital optimization services market for SMEs in Singapore. The Company offers business and technology solutions that are designed to optimize clients' experiences with their customers by driving digital adoption and self-service. Tridentity, the Company's flagship product, is a cutting-edge identity app built on blockchain technology, designed to provide secure single sign-on capabilities to third-party integrated systems in industry verticals such as e-commerce, food and beverage, fintech, healthcare and health services, and wholesale and retail. Tridentity endeavors to offer unparalleled security features, ensuring the protection of sensitive information and safeguarding against potential threats, which promises a new and better age in the digital landscape. Orchestrating with and beyond Tridentity, Trident's mission is to be the leader in Web 3.0 enablement, bridging businesses to a trusted and secure e-commerce platform with curated customer experiences. Safe Harbor Statement This announcement contains statements that may constitute "forward-looking” statements pursuant to the "safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will,” "expects,” "anticipates,” "aims,” "future,” "intends,” "plans,” "believes,” "estimates,” "likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's strategies, future business development, and financial condition and results of operations; the expected growth of the digital solutions market; the political, economic, social and legal developments in the jurisdictions that the Company operates in or in which the Company intends to expand its business and operations; the Company's ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For Investor/Media Enquiries Investor Relations Robin Yang, Partner ICR, LLC Email: [email protected] Phone: +1 (212) 321-0602 UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for share and per share data, or otherwise noted) June 30, December 31,Two years ago, Colorado athletic director Rick George hired Deion Sanders in an effort to bring life back to the football program. So far, it’s been an unquestioned success, to the point that national pundits often talk about Sanders being a great fit for jobs at other schools, or even the NFL. George, however, is confident Sanders will be in Boulder for a while. Two years removed from a 1-11 season, CU (9-3, 7-2 Big 12) is ranked No. 23 in the College Football Playoff Top 25, No. 20 in the Associated Press Top 25, and awaiting Sunday’s bowl selections to find out where they’ll play next. CU is 13-11 in Sanders’ two seasons. “Everybody talks about all these rumors and all these other things, and I kind of tune out that noise,” George said in an interview with BuffZone. “I know who Deion is, and I know what he represents and I believe he wants to be here for the long haul. We’ve supported all the initiatives that he’s embraced and we’ll continue to do that. My expectation is that he’ll be here and he can write some of our record books moving forward.” How long Sanders coaches in Boulder isn’t known, of course. He still has three years remaining on the five-year, $29.5-million contract he signed two years ago and there have been discussions about an extension. “Coach and I have talked about this three different times and we’ll continue to have discussions about it and that’s kind of where I’m at,” George said, while adding that Sanders doesn’t want to be distracted with contract talks until after the season. Sanders’ base and supplemental salary was $5.7 million this year and he will add $600,000 in bonuses for getting to nine regular season wins and a bowl game. Per the terms of his current deal, Sanders will receive $200,000 raises each season, which means he has $18.3 million left on his deal. Since being introduced as head coach on Dec. 4, 2022, Coach Prime has resuscitated the program. Considered the worst Power 5 conference program at the time, the Buffs improved to 4-8 a year ago (with five one-score losses) and vaulted to 9-3 this year. Led by Coach Prime’s son, Shedeur, at quarterback and dynamic cornerback/receiver Travis Hunter, the Buffs were in the race for the Big 12 title game until the final moments of the regular season last week. CU has been one of the most watched teams in the country, both on social media and on TV. And, of the 24 games CU has played under Coach Prime, 20 have been in sold-out stadiums, including 10 of 12 at Folsom Field. “I’m incredibly happy on where we are today,” George said. “We’ve got another game left, so we can still get to that 10th win, which was the high number that I thought this year that we could get to.” Adding to CU’s profile and Sanders’ coaching resume is that Hunter is the frontrunner for the Heisman Trophy, while Shedeur Sanders has a shot to be invited to New York as a finalist, as well. (Finalists will be announced Monday). Yet, even with Hunter and Shedeur heading off to the NFL, George said, “I think our best days are ahead of us. “I think what excites me is the recruiting class that he just had, and getting (five-star quarterback) JuJu Lewis is a really important factor in that. There’s a lot of people to build around that I think are going to be here for a while. I like his coaching staff a lot. I like his coordinators. ... And, coach has kind of proven over two years that he can reassemble a roster and get them working together and playing together to compete for a championship.” Coach Prime has often said 2023 was about instilling hope and 2024 was about expectations. George added to that, saying, “I’m sure the third year is going to be even higher expectations on where we think we can go. ... We gotta keep his coaching staff intact and if we do that, with his leadership, I think we’ll have a really good year.” George feels the future is so bright, in fact, that me might consider extending his own time at CU. In September of 2021, he signed a five-year deal that runs through June 30, 2026. In the summer of 2023, George, 64, told BuffZone he didn’t see himself working past then. That could change, however. “I’m contemplating that,” said George, who is in his 11th school year as the Buffs’ AD. “I’m not ready to say, ‘OK, I’ll definitely be done in two years. ... Talking with the family and all that, it’s fun to win again and I like what coach is doing. We have a good relationship and he’s great to work with, so that’s a factor for sure. I think coach and I from the start have had a really good relationship and it seems to get better and better as we go.”
GENEVA -- World Cup sponsor Bank of America teamed with FIFA for a second time Tuesday, signing for the Club World Cup that still has no broadcast deals just over six months before games start. Bank of America became FIFA’s first global banking partner in August and sealed a separate deal for a second event also being played in the United States, two days before the group-stage draw in Miami for the revamped 32-team club event . It features recent European champions Real Madrid, Manchester City and Chelsea. “FIFA is going to take America by storm and we’re going to be right at their side,” the bank’s head of marketing, David Tyrie, said in a telephone interview Tuesday. Bank of America joins 2026 World Cup sponsors Hisense and Budweiser brewer AB InBev in separately also backing the club event, and more deals are expected after Saudi Arabia is confirmed next week as the 2034 World Cup host. While games at the next World Cup, co-hosted with Canada and Mexico, will be watched by hundreds of millions globally mostly on free-to-air public networks, the Club World Cup broadcast picture is unclear. FIFA has promised hundreds of millions of dollars in prize money for the 32 clubs to share but is yet to announce any broadcast deals for the month-long tournament. It is expected to land on a streaming service. “You have to think about how you are going to connect with these fans,” Tyrie told the Associated Press from Boston. “TV is one, sure, social media is a big avenue. “The smart marketing capabilities are able to say ‘Hey, we need to tilt this one a little bit more away from TV-type marketing into social-type marketing.’ We have got a pretty decent strategy that we’re putting in place to do activation.” Engaging Bank of America’s customers and 250,000 employees are key to that strategy, Tyrie said. “It’s going to be for our clients, and entertainment, it’s going to be for our employees in creating excitement. All of the above.” The Club World Cup will be played in 12 stadiums across 11 cities, including Bank of America Stadium in Charlotte, N.C, and Lumen Field where the hometown Seattle Sounders play three group-stage games. European powers Madrid, Man City and Bayern Munich lead a 12-strong European challenge. Teams qualified by winning continental titles or posting consistently good results across four years of those competitions. The exception is Lionel Messi’s Inter Miami, who FIFA gave the entry reserved for a host nation team in October based on regular season record without waiting for the MLS Cup final. LA Galaxy hosts New York Red Bulls playing for that national title Saturday. Messi’s team opens the FIFA tournament June 15 in the Miami Dolphins’ Hard Rock Stadium and will play its three group games in Florida. “The more brand players you bring in, the bigger the following you have got,” Tyrie acknowledged, though adding Messi being involved was “not a make or break for the event.” The Club World Cup final is July 13 at Met Life Stadium near New York, which also will host the World Cup final one year later. ___ AP soccer: https://apnews.com/hub/soccerGurgaon: Struggling to contain the problem of garbage that has spread like a rash in the city, MCG has formed a sanitation security force (SSF) into which ex-servicemen have been drafted. The corporation has set up four such teams, which will find out what's going wrong and at which locations. These teams will coordinate with police. The move comes almost six months after the state govt declared a solid waste exigency in the city. The team members will upload geo-tagged photographs of illegal dumping of construction and solid waste and vehicles used for that, and videos of unloading waste on a WhatsApp group. The sanitation force started working on Thurs night and seized six vehicles they intercepted at various locations while illegally dumping waste. During inspections on the intervening night of Thurs and Fri, the teams found some vehicles misusing MCG's identity too. MCG additional commissioner Balpreet Singh said monitoring and action against those dumping waste and debris in the city has been intensified. "During surveillance on Thurs night, the force seized six vehicles from different areas, including Leisure Valley, Sector 29, Fountain Chowk, Khandsa Road, Sector 37, Devi Lal Colony, Jawahar Nagar and Atul Kataria Chowk," he said, adding that some of the seized vehicles didn't have registration number plates, and FIRs were filed against the owners or drivers at various police stations. He urged the citizens to report illegal dumping of waste or debris to the civic body so that timely action can be taken by the sanitation security force. He also advised keeping an eye on vehicles using the corporation's name. For zone-1, the corporation has deputed seven ex-servicemen along with three zonal taxation officers and assigned drivers with govt vehicles to carry out the round-the-clock surveillance. For the areas in zone 2, the civic body has deployed six ex-servicemen and two zonal taxation officers. It has deployed 10 ex-servicemen for zone-3 besides three zonal taxation officers to assist the team. Moreover, four ex-servicemen will work for zone-4. The teams will work in three shifts — starting from 4 pm to 12 am, 12 am to 8 am, and then 8 am to 4pm. "Constituting a security force is certainly going to help in waste management, but only to some extent. In our vicinity, especially in plotted colonies, we see a lot of construction happening. Contractors building these structures promise to dispose of construction waste during the evening hours after the day's work is over. They then dump it illegally wherever they get space. We have seen so many green areas of the city turning into construction waste dump yards, especially Golf Course Road Extension and Gurgaon-Faridabad Road. So, surveillance to cover this part also has to be brought in," said Sudakshina Laha, general secretary of Sushant Lok 2 and 3 RWA. "The entire system needs an overhaul so that the corporation taps the source of waste. Moreover, MCG should bring in technology to curb illegal dumping of construction and solid waste," she added. The state govt declared a solid waste exigency on June 12 earlier this year, and subsequently announced Solid Waste Environment Exigency Programme (SWEEP) campaign. It also constituted teams of MCG, district administration and GMDA to monitor the cleanliness drive.
Trump's November election victory has cast doubt on the future of American aid for Ukraine, providing a limited window for billions of dollars in already authorized assistance to be disbursed before he is sworn in next month. The package features drones, ammunition for precision HIMARS rocket launchers, and equipment and spare parts for artillery systems, tanks and armored vehicles, the Pentagon said in a statement. Trump met in Paris earlier Saturday with Ukrainian President Volodymyr Zelensky, who said any resolution of the war with Russia should be a "just" settlement that includes "strong security guarantees for Ukraine." The meeting was of huge importance to Zelensky, given fears in Kyiv that Trump may urge Ukraine to make concessions to Moscow. The latest aid will be funded via the Ukraine Security Assistance Initiative, under which military equipment is procured from the defense industry or partners rather than drawn from American stocks, meaning it will not immediately arrive on the battlefield. It follows a $725 million package announced on Monday that included a second tranche of landmines as well as anti-air and anti-armor weapons. The outgoing administration of President Joe Biden is working to get as much aid as possible to Ukraine before Trump -- who has repeatedly criticized US assistance for Kyiv and claimed he could secure a ceasefire within hours -- takes over. Trump's comments have triggered fears in Kyiv and Europe about the future of US aid, and Ukraine's ability to withstand Russian attacks in the absence of further American support. "Our job has been to try and put Ukraine in the strongest possible position on the battlefield so that it is in the strongest possible position at the negotiating table," National Security Advisor Jake Sullivan said Saturday. In the closing weeks of Biden's term, the goal is "a massive surge of assistance and to up the economic pressure on Russia," he said. US Defense Secretary Lloyd Austin on Saturday warned that failure to continue opposing Russia's actions would have dire consequences. "We can continue to stand up to the Kremlin. Or we can let (Russian President Vladimir) Putin have his way -- and condemn our children and grandchildren to live in a world of chaos and conflict," said Austin, who like Sullivan was speaking at the Reagan National Defense Forum in California. "This administration has made its choice. And so has a bipartisan coalition in Congress. The next administration must make its own choice." The defense chief also emphasized the importance of US allies and partners in his remarks -- a contrast to Trump's go-it-alone "America first" world view. "Here is the stark military fact: our allies and partners are huge force multipliers," Austin said. "Ultimately, America is weaker when it stands alone. And America is smaller when it stands apart," he said. "There is no such thing as a safe retreat from today's interwoven world." The United States has spearheaded the push for international support for Ukraine, quickly forging a coalition to back Kyiv after Russia launched its full-scale invasion in 2022 and coordinating aid from dozens of countries. Ukraine's international supporters have since then provided tens of billions of dollars in weapons, ammunition, training and other security aid that has been key to helping Kyiv resist Russian forces. wd/mlm/acb
SINGAPORE, Nov. 23, 2024 (GLOBE NEWSWIRE) -- Trident Digital Tech Holdings Ltd ("Trident” or the "Company,” NASDAQ: TDTH), a leading digital transformation facilitator in the e-commerce enablement and digital optimization services market for small and medium enterprise (SMEs) in Singapore, today announced its unaudited financial results for the six months ended June 30, 2024. Initial Public Offering On September 11, 2024, the Company closed the initial public offering of 1,800,000 American Depositary Shares ("ADSs”) at a price to the public of US$5.00 per ADS. Each ADS represents eight Class B Ordinary Shares of the Company. Trident's ADSs began trading on the Nasdaq Capital Market on September 10, 2024, under the symbol "TDTH.” First Half of 2024 Financial Highlights Haiyan Huang, Trident's Chief Financial Officer, added, "Our first half results reflect the ongoing transformation of our business model and the investments we are making to position ourselves for future growth. Our total revenues declined 21.3% year over year as we sought to prioritize the shift towards our Web 3.0 e-commerce platform. Our strategic investments in the business transformation, while impacting our near-term profitability, are essential to ensuring the security, functionality, and overall success of our platform. We remain focused on the disciplined execution of our transition strategy as we seek to become a leader in Web 3.0 enablement.” Key Financial Results June 30 Unaudited Financial Results for the Six Months Ended June 30, 2024 Revenues June 30, The Company's revenues decreased by 21.27% from US$481,165 for the six months ended June 30, 2023, to US$378,839 for the six months ended June 30, 2024. The decrease was primarily due to the Company's strategic shift towards prioritizing its Web 3.0 e-commerce platform, Tridentity, a core growth area for its long-term vision in the future. As a result, the Company allocated fewer resources to its consulting and IT customization business. This realignment allows the Company to concentrate on expanding its presence in Tridentity, positioning Trident to capture new opportunities in a rapidly advancing digital ecosystem. Tridentity, the Company's flagship product, is a cutting-edge identity app built on blockchain technology, designed to provide secure single sign-on capabilities to integrated third-party systems in various industries, which was launched in December 2023. Tridentity currently includes three primary business modules: Tri-event for NFT (Non-Fungible Token) event ticketing, Tri-food for block-chain powered food delivery, and Tri-verse for virtual community connecting its users. As the platform remains in the development, optimization, and gradual testing stages, the Company generated only US$1,872 in revenue from providing technical support for selling event tickets on behalf of merchants through Tridentity for the six months ended June 30, 2024. Cost of Revenues June 30, The Company's cost of revenues decreased by 7.49% from US$389,569 for the six months ended June 30, 2023 to US$360,390 for the six months ended June 30, 2024, primarily due to a decrease in direct labor cost and miscellaneous costs in total of US$141,141 as a result of a significant reduction in headcount in response to lower business volumes and cost controls, and partially offset by an increase of service fees in the amount of US$111,962 as a result of the fulfillment of slightly increased number of management software solutions projects since the second half of 2023. Gross profit and margin As a result of the factors described above, the Company recorded a gross profit of US$0.09 million and US$0.02 million for the six months ended June 30, 2023 and 2024, representing a gross profit margin of 19.0% and 4.9%, respectively. The decrease in gross profit margin was primarily due to the decrease in IT consulting services with relatively higher gross margin and high proportion of revenues in the first half of 2023, which had no revenue in the first half of 2024. Operating expenses Selling expenses The Company's selling and marketing expenses slightly increased from US$253,343 for the six months ended June 30, 2023 to US$264,326 for the six months ended June 30, 2024. The increase was primarily due to hiring of additional business development personnel to support the launch, operation and promotion of Tridentity since the second half of 2023, which was partially offset by the decrease in marketing and advertising expenses due to the Company's strict control over discretionary spending. General and administrative expenses The Company's general and administrative expenses decreased slightly from US$1,551,710 for the six months ended June 30, 2023 to US$1,528,022 for the six months ended June 30, 2024. The decrease was primarily due to a decrease in professional service fees and other overhead expenses, which was partially offset by an increase in payroll expenses due to additional headcount in management. Research and development expenses The Company's research and development expenses decreased from US$192,855 for the six months ended June 30, 2023 to US$172,519 for the six months ended June 30, 2024, primarily due to the decrease in system development expenses for which there will be no further related expenses in 2024. This decrease was partially offset by the increase in payroll expenses, outsource service fees and the technical support expenses for Tridentity. Other income, net The Company's other income, net decreased from US$44,900 for the six months ended June 30, 2023 to US$19,391 for the six months ended June 30, 2024. The decrease was primarily due to the decrease of interest income and the depreciation of the Singapore dollar against the U.S. dollar in the Company's reporting currency translation from S$1.3523 to US$1.00 for the six months ended June 30, 2023 to S$1.3552 to US$1.00 for the six months ended June 30, 2024, leading to a decrease in unrealized gain as the foreign currency exposures are liabilities. About Trident Trident is a leading digital transformation facilitator in the e-commerce enablement and digital optimization services market for SMEs in Singapore. The Company offers business and technology solutions that are designed to optimize clients' experiences with their customers by driving digital adoption and self-service. Tridentity, the Company's flagship product, is a cutting-edge identity app built on blockchain technology, designed to provide secure single sign-on capabilities to third-party integrated systems in industry verticals such as e-commerce, food and beverage, fintech, healthcare and health services, and wholesale and retail. Tridentity endeavors to offer unparalleled security features, ensuring the protection of sensitive information and safeguarding against potential threats, which promises a new and better age in the digital landscape. Orchestrating with and beyond Tridentity, Trident's mission is to be the leader in Web 3.0 enablement, bridging businesses to a trusted and secure e-commerce platform with curated customer experiences. Safe Harbor Statement This announcement contains statements that may constitute "forward-looking” statements pursuant to the "safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will,” "expects,” "anticipates,” "aims,” "future,” "intends,” "plans,” "believes,” "estimates,” "likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's strategies, future business development, and financial condition and results of operations; the expected growth of the digital solutions market; the political, economic, social and legal developments in the jurisdictions that the Company operates in or in which the Company intends to expand its business and operations; the Company's ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For Investor/Media Enquiries Investor Relations Robin Yang, Partner ICR, LLC Email: [email protected] Phone: +1 (212) 321-0602 UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for share and per share data, or otherwise noted) June 30, December 31,Arguments over whether Luigi Mangione is a 'hero' offer glimpse into unusual American momentKyverna Therapeutics Strengthens Leadership Team to Accelerate Next Phase of Growth
BIRMINGHAM, Mich. , Nov. 27, 2024 /PRNewswire/ -- OneStream, Inc. ("OneStream") (Nasdaq: OS) announced today that in connection with the previously announced underwritten public offering of 15,000,000 shares of its Class A common stock, which closed on November 18, 2024 , the underwriters have exercised in full their option to purchase an additional 2,250,000 shares of Class A common stock at the public offering price of $31.00 per share, less underwriting discounts and commissions. Of the additional shares, 1,351,043 shares were sold by selling stockholders and 898,957 shares were sold by OneStream as part of a non-dilutive "synthetic secondary" transaction (the "Synthetic Secondary"). OneStream did not receive any proceeds from the sale of shares by the selling stockholders in the public offering. OneStream used all of the net proceeds to it from the public offering to purchase LLC units of OneStream Software LLC (and purchase and cancel an equal number of shares of Class C common stock) from KKR Dream Holdings LLC in the Synthetic Secondary, at a purchase price per unit equal to the public offering price per share of Class A common stock sold in the public offering, net of underwriting discounts and commissions. Accordingly, OneStream did not retain any proceeds from the public offering and, upon the closing of the public offering and the Synthetic Secondary, the total number of outstanding shares of common stock of OneStream and LLC units of OneStream Software LLC remained the same. Morgan Stanley, J.P. Morgan and KKR acted as lead book-running managers for the offering. Citigroup, BofA Securities and Guggenheim Securities acted as book-running managers and Mizuho, Raymond James , Scotiabank, Truist Securities, BTIG, Piper Sandler, TD Cowen and Wolfe | Nomura Alliance acted as additional book-running managers for the offering. Amerivet Securities, Blaylock Van , LLC, Cabrera Capital Markets LLC, Drexel Hamilton and Loop Capital Markets acted as co-managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on November 14, 2024 . The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from: Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, New York, New York 10014, or email: prospectus@morganstanley.com ; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com . This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these 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 OneStream OneStream is how today's Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It's the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution. We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve. With over 1,500 customers, including 15% of the Fortune 500, more than 250 go-to-market, implementation, and development partners and over 1,400 employees, our vision is to be the operating system for modern finance. Disclaimer "Wolfe | Nomura Alliance " is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura Securities International, Inc. and WR Securities, LLC are serving as underwriters in the offering described herein. In addition, WR Securities, LLC and certain of its affiliates may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with this offering. Investor Relations Contacts INVESTOR CONTACT Anne Leschin VP, Investor Relations and Strategic Finance OneStream investors@onestreamsoftware.com MEDIA CONTACT Victoria Borges Media Relations Contact OneStream media@onestreamsoftware.com View original content: https://www.prnewswire.com/news-releases/onestream-announces-full-exercise-of-underwriters-option-to-purchase-additional-shares-in-secondary-offering-of-class-a-common-stock-302317890.html SOURCE OneStream, Inc.
WASHINGTON (AP) — President-elect Donald Trump said Saturday that the U.S. military should stay out of the escalating conflict in Syria as a shock opposition offensive closes in on the capital, declaring in a social media post, "THIS IS NOT OUR FIGHT.” With world leaders watching the rapid rebel advance against Syria's Russian- and Iranian-backed president, Bashar Assad, President Joe Biden's national security adviser separately stressed that the Biden administration had no intention of intervening. “The United States is not going to ... militarily dive into the middle of a Syrian civil war," Jake Sullivan told an audience in California. He said the U.S. would keep acting as necessary to keep the Islamic State — a violently anti-Western extremist group not known to be involved in the offensive but with sleeper cells in Syria's deserts — from exploiting openings presented by the fighting. Insurgents’ stunning march across Syria sped faster Saturday, reaching the gates of Damascus and government forces abandoning the central city of Homs. The government was forced to deny rumors that Assad had fled the country. Trump's comments on the dramatic rebel push were his first since Syrian rebels launched their advance late last month. They came while he was in Paris for the reopening of the Notre Dame cathedral . In his post, Trump said Assad did not deserve U.S. support to stay in power. Assad's government has been propped up by the Russian and Iranian military, along with Hezbollah and other Iranian-allied militias, in a now 13-year-old war against opposition groups seeking his overthrow. The war, which began as a mostly peaceful uprising in 2011 against the Assad family's rule, has killed a half-million people, fractured Syria and drawn in a more than a half-dozen foreign militaries and militias. The insurgents are led by Hayat Tahrir al-Sham , which the U.S. has designated as a terrorist group and says has links to al-Qaida, although the group has since broken ties with al-Qaida. The insurgents have met little resistance so far from the Syrian army, the Russian and Iranian militaries or allied militias in the country. The Biden administration says Syrian opposition forces' capture of government-held cities demonstrates just how diminished those countries are by wars in Ukraine , Gaza and Lebanon. “Assad’s backers — Iran, Russia and Hezbollah — have all been weakened and distracted," Sullivan said Saturday at an annual gathering of national security officials, defense companies and lawmakers at the Ronald Reagan Presidential Library in Simi Valley. “None of them are prepared to provide the kind of support to Assad that they provided in the past,” he later added. The U.S. has about 900 troops in Syria, including U.S. forces working with Kurdish allies in the opposition-held northeast to prevent any resurgence of the Islamic State group. Gen. Bryan Fenton, head of U.S. Special Operations Command, said he would not want to speculate on how the upheaval in Syria would affect the U.S. military’s footprint in the country. “It’s still too early to tell,” he said. What would not change is the focus on disrupting IS operations in Syria and protecting U.S. troops, Fenton said during a panel at the Reagan event. Syrian opposition activists and regional officials have been watching closely for any indication from the incoming Trump administration, in particular on how the U.S. would respond to the rebel advances against Assad. Robert Wilkie, Trump's defense transition chief and a former secretary of the Department of Veterans Affairs, said during the same panel that the collapse of the “murderous Assad regime” would be a major blow to Iran's power. The United Nations' special envoy for Syria called Saturday for urgent talks in Geneva to ensure an “orderly political transition” in Syria. In his post, Trump said Russia “is so tied up in Ukraine” that it “seems incapable of stopping this literal march through Syria, a country they have protected for years.” He said rebels could possibly force Assad from power. The president-elect condemned the overall U.S. handling of the war but said the routing of Assad and Russian forces might be for the best. “Syria is a mess, but is not our friend, & THE UNITED STATES SHOULD HAVE NOTHING TO DO WITH IT. THIS IS NOT OUR FIGHT. LET IT PLAY OUT. DO NOT GET INVOLVED!” he wrote in Saturday's post. An influential Syrian opposition activist in Washington, Mouaz Moustafa, interrupted a briefing to reporters to read Trump’s post and appeared to choke up. He said Trump’s declaration that the U.S. should stay out of the fight was the best outcome that the the Syrians aligned against Assad could hope for. Rebels have been freeing political detainees of the Assad government from prisons as they advance across Syria, taking cities. Moustafa pledged to reporters Saturday that opposition forces would be alert for any U.S. detainees among them and do their utmost to protect them. Moustafa said that includes Austin Tice , an American journalist missing for more than a decade and suspected to be held by Assad. Hayat Tahrir al-Sham renounced al-Qaida in 2016 and has worked to rebrand itself, including cracking down on some Islamic extremist groups and fighters in its territory and portraying itself as a protector of Christians and other religious minorities. While the U.S. and United Nations still designate it as a terrorist organization, Trump's first administration told lawmakers that the U.S. was no longer targeting the group's leader, Abu Mohammed al-Golani. ___ Copp reported from Simi Valley, California. Ellen Knickmeyer, Will Weissert And Tara Copp, The Associated Press
NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC ) ("Ready Capital" or the "Company") today announced that it priced an underwritten public offering of $115.0 million aggregate principal amount of 9.00% Senior Notes due 2029 (the "Notes"). The Notes will be issued in minimum denominations and integral multiples of $25.00. The Company has granted to the underwriters a 30-day over-allotment option to purchase up to an additional $17.25 million aggregate principal amount of the Notes at the public offering price, less the underwriting discount. The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC served as book-running managers for the offering. The offering is expected to close on December 10, 2024 and is subject to customary closing conditions. The Company intends to apply to list the Notes on the New York Stock Exchange under the symbol "RCD" and, if the application is approved, trading is expected to commence within 30 days of the closing of the offering. A registration statement relating to the securities was filed with the Securities and Exchange Commission (the “SEC”) and immediately became effective on March 22, 2022. The offering was made only by means of a preliminary prospectus supplement and accompanying prospectus, which have been filed with the SEC. A copy of the prospectus supplement and accompanying prospectus may be obtained free of charge at the SEC's website at www.sec.gov or from the underwriters by contacting: Morgan Stanley & Co. LLC by calling 1-800-584-6837, Piper Sandler & Co. at 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or by calling toll-free 866-805-4128, or by email at fsg-dcm@psc.com , RBC Capital Markets, LLC by calling 1-866-375-6829 or by emailing rbcnyfixedincomeprospectus@rbccm.com , UBS Investment Bank by calling 1-888-827-7275, Wells Fargo Securities, LLC by calling 1-800-645-3751 or by emailing wfscustomerservice@wellsfargo.com . This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, nor shall there be any sale of the Company's securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About Ready Capital Corporation Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor and owner occupied commercial real estate loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, Ready Capital employs approximately 350 professionals nationwide. Ready Capital is externally managed and advised by Waterfall Asset Management, LLC. Forward-Looking Statements This press release contains certain forward-looking statements. Words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "could," "would," "may," "potential" or the negative of those terms or other comparable terminology are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond the control of the Company, including, without limitation, the risk factors and other matters set forth in the prospectus supplement and the accompanying prospectus and the Company's Annual Report on Form 10–K for the year ended December 31, 2023 filed with the SEC and in its other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Contacts: Investor Relations Ready Capital Corporation 212-257-4666 InvestorRelations@readycapital.comCity Office REIT Announces Dividends for Fourth Quarter 2024
