The investigation stems from concerns over potential anticompetitive behavior and violations of EU competition laws. The European Commission has reason to believe that Google and Meta may have engaged in clandestine arrangements to manipulate the online advertising market, unfairly disadvantaging other players in the industry. If these suspicions are confirmed, both tech giants could face substantial fines and be required to cease these questionable practices.In the fast-paced world of digital gaming, innovation drives success and transformation. SMCI Now is poised to become a groundbreaking name in the gaming industry, introducing unexpected and bold advances that promise to reshape how gamers interact with their virtual worlds. This is more than just a technology update—it’s a redefinition of gaming experience as a whole. SMCI Now stands for Super Multi-Channel Interactivity , a cutting-edge platform that uses advanced AI and quantum computing to create immersive, multi-dimensional gaming environments. Not only does it enhance the current gaming experiences, but it also allows players to engage with games on an unprecedented scale. These environments are designed to be dynamically responsive to player actions, delivering seamless interaction unmatched by traditional gaming engines. One of the most exciting features of SMCI Now is its real-time adaptability to player strategies and preferences. By implementing AI-driven adjustments, the platform can customize challenges, storylines, and rewards based on unique player profiles and in-game decisions. This creates a tailor-made gaming experience for each user, bridging the gap between reality and digital simulation. Industry analysts believe that SMCI Now has the potential to set new standards in both competitive eSports and casual gaming sectors. This technological leap promises to attract not only new players but also entice developers to explore limitless creative potential for future game titles. As SMCI Now makes its debut, the gaming world eagerly anticipates how these technological advancements will influence and redefine the gaming landscape. Keep your controllers ready—the future of gaming is now, and it is going to be extraordinary. Discover the Future of Gaming with SMCI Now: Game-Changer or Industry Revolution? In the rapidly evolving world of digital gaming, Super Multi-Channel Interactivity (SMCI Now) is garnering attention as a potential game-changer. By integrating pioneering technologies like advanced AI and quantum computing, SMCI Now is pushing the boundaries of what is possible in digital entertainment. Here, we delve into the exciting innovations, features, and implications of this groundbreaking platform. Features and Innovations 1. AI-Driven Personalization : SMCI Now excels in offering an unparalleled, personalized experience. By dynamically adjusting game elements in real-time based on AI analysis of player behavior and decisions, it ensures each game session is unique. Unlike static environments, this technology provides a living, breathing world that adapts to its players. 2. Quantum Computing Integration : Leveraging the power of quantum computing, SMCI Now delivers complex data processing capabilities that significantly enhance graphical fidelity and interactivity. This translates to more realistic simulations and a seamless gaming experience. 3. Multi-Channel Interactivity : The essence of SMCI Now is its multi-channel approach, allowing gamers to interact with their environment through various inputs and outputs. This aspect redefines player engagement by enabling new forms of interaction, from voice commands to advanced sensory feedback. Use Cases and Market Potential The versatile capabilities of SMCI Now extend its reach beyond just traditional gaming. Here are some potential use cases: – eSports : By providing a more immersive and adaptive environment, eSports competitions can become even more thrilling, with games that adapt to competitive strategies in real-time. – Virtual Reality (VR) and Augmented Reality (AR) : SMCI Now’s integration with VR and AR technologies could create unmatched interactive experiences, blending physical and digital realms seamlessly. – Educational Simulations : The advanced interactivity and personalization of SMCI Now can be harnessed to create engaging educational tools that adapt to different learning styles and speeds. Limitations and Considerations While SMCI Now promises to revolutionize gaming, there are some considerations: – High Technical Requirements : The cutting-edge nature of SMCI Now means that not all devices will be able to support these innovations. This may create a barrier for gamers without access to high-end hardware. – Development Complexity : The advanced features require significant investment in development time and resources, which might limit its initial adoption to studios with adequate funding and technical expertise. Comparisons and Industry Impact When comparing SMCI Now to existing platforms, the most notable difference is its real-time adaptability and quantum integration, setting it apart in terms of potential and execution. The industry impact is expected to be significant, with ripple effects across eSports, VR/AR, and interactive storytelling. Predictions and Market Trends Analysts predict that if SMCI Now successfully integrates into the mainstream, we could see a shift in player expectations from static to dynamic gaming experiences. Trends suggest an increasing demand for personalized gaming environments, and SMCI Now seems poised to meet those demands. In conclusion, SMCI Now is more than just a technological advancement—it represents a fundamental shift in how games are developed, experienced, and perceived. As the platform rolls out, it will be crucial to watch how it influences the future of gaming and interactive digital experiences. For updates and insights into the gaming industry’s leading innovations, visit Gaming Industry .
As the Bilibili streamer navigates through the treacherous landscapes of "Dark Myth" and engages in intense battles with the formidable monsters, viewers are treated to a masterclass in strategy and resource management. Each move is carefully calculated, each decision weighed against the formidable might of the monsters that stand in their way. It's a thrilling spectacle of skill and determination, with the outcome hanging in the balance with every move.
Ford announces $2.5 billion for businesses to spur innovation in OntarioThe importance of Messi's return to Barcelona cannot be understated. The Argentine forward is widely regarded as one of the greatest footballers of all time, and his presence on the pitch has a transformative effect on the team. Messi's skill, vision, and leadership make him a priceless asset for Barcelona, and his return would undoubtedly boost the team's chances of success in the upcoming seasons.
Despite Mary Lou McDonald’s confidence around shaping a coalition without Fine Gael and Fianna Fail – the two parties that have dominated the landscape of Irish politics for a century – the pathway to government for Sinn Fein still appears challenging. With counting following Friday’s election still in the relatively early stages – after an exit poll that showed the main three parties effectively neck-and-neck – there is some way to go before the final picture emerges and the options for government formation crystalise. Taoiseach and Fine Gael leader, Simon Harris, has dismissed talk of a Sinn Fein surge and said he was “cautiously optimistic” about where his party will stand after all the votes are counted. Meanwhile, Ireland’s deputy premier and Fianna Fail leader, Micheal Martin, insisted his party has a “very clear route back to government” as he predicted seat gains. The counting process could last days because of Ireland’s complex system of proportional representation with a single transferable vote (PR-STV), where candidates are ranked by preference. The early indications have turned the focus to the tricky arithmetic of government formation, as the country’s several smaller parties and many independents potentially jockey for a place in government. Ms McDonald told reporters at the RDS count centre in Dublin that she would be “very, very actively pursuing” the potential to form a government with other parties on the left of the political spectrum. The smaller, left-leaning parties in Ireland include the Social Democrats, the Irish Labour Party, the Green Party and People Before Profit-Solidarity. Ms McDonald said her party had delivered an “incredible performance” in the election. “I think it’s fair to say that we have now confirmed that we have broken the political mould here in this state,” she said. “Two party politics is now gone. It’s consigned to the dustbin of history and that, in itself, is very significant.” She added: “I am looking to bring about a government of change, and I’m going to go and look at all formulations. “If you want my bottom line, the idea of Fianna Fail and Fine Gael for another five years, in our strong opinion, is not a good outcome for Irish society. “Obviously, I want to talk to other parties of the left and those that we share very significant policy objectives with. So I’m going to do that first and just hear their mind, hear their thinking. But be very clear, we will be very, very actively pursuing entrance into government.” In Friday night’s exit poll, Sinn Fein was predicted to take 21.1% of first-preference votes, narrowly ahead of outgoing coalition partners Fine Gael and Fianna Fail at 21% and 19.5% respectively. Prior to the election, Fianna Fail and Fine Gael both ruled out entering government with Sinn Fein. Fine Gael leader Mr Harris rejected suggestions Sinn Fein had broken new ground. He told reporters in his count centre in Greystones, Co Wicklow: “Certainly we haven’t seen a Sinn Fein surge or anything like it. “I mean, it looks likely, on the figures that we’ve seen now, fewer people, many fewer people would have voted Sinn Fein in this election than the last one. “In fact, I think they’re down by around 5% and actually the parties, particularly the two parties, the two larger parties in government, are likely to receive significant support from the electorate. So definitely, politics in Ireland has gotten much more fragmented.” He said it was too early to tell what the next government would look like. “I think anybody who makes any suggestion about who is going to be the largest party or the construct of the next government, they’re a braver person than I am,” he said. “Our electoral system dictates that there’ll be many, many transfers that will go on for hours, if not days, before we know the final computations at all. “But what I am very confident about is that my party will have a very significant role to play in the years ahead, and I’m cautiously optimistic and excited.” Fianna Fail’s Mr Martin told reporters at a count centre in Cork he was confident that the numbers exist to form a government with parties that shared his political viewpoint. Mr Martin said it “remains to be seen” whether he would return to the role of Taoiseach – a position he held between 2020 and 2022 – but he expressed confidence his party would outperform the exit poll prediction. “It’s a bit too early yet to call the exact type of government that will be formed or the composition of the next government,” he said. “But I think there are, there will be a sufficiency of seats, it seems to me, that aligns with the core principles that I articulated at the outset of this campaign and throughout the campaign, around the pro-enterprise economy, around a positively pro-European position, a government that will strongly push for home ownership and around parties that are transparently democratic in how they conduct their affairs.” Asked if it would be in a coalition with Fianna Fail, Fine Gael and the Social Democrats, he said that would be “racing a bit too far ahead”. The final result may dictate that if Fianna Fail and Fine Gael are to return to government, they may need more than one junior partner, or potentially the buy-in of several independent TDs. Mr Martin said it was unclear how quickly a government can be formed, as he predicted his party would gain new seats. “It will be challenging. This is not easy,” he added. The junior partner in the outgoing government – the Green Party – looks set for a bruising set of results. Green leader Roderic O’Gorman is in a fight to hold onto his seat, as are a number of party colleagues, including Media Minister Catherine Martin. “It’s clear the Green Party has not had a good day,” he said. The early counting also suggested potential trouble for Fianna Fail in Wicklow, where the party’s only candidate in the constituency, Health Minister Stephen Donnelly, is considered to have a battle ahead, with the risk of losing his seat. Meanwhile, there is significant focus on independent candidate Gerard Hutch who, on Saturday evening, was sitting in fourth place in the four-seat constituency of Dublin Central. Last spring, Mr Hutch was found not guilty by the non-jury Special Criminal Court of the murder of David Byrne, in one of the first deadly attacks of the Hutch-Kinahan gangland feud. Mr Byrne, 33, died after being shot six times at a crowded boxing weigh-in event at the Regency Hotel in February 2016. A Special Criminal Court judge described Mr Hutch, 61, as the patriarchal figurehead of the Hutch criminal organisation and said he had engaged in “serious criminal conduct”. The constituency will be closely watched as other hopefuls wait to see if transfers from eliminated candidates may eventually rule him out of contention. In the constituency of Louth, the much-criticised selection of John McGahon appeared not to have paid off for Fine Gael. The party’s campaign was beset by questioning over footage entering the public domain of the candidate engaged in a fight outside a pub in 2018. The Social Democrats have a strong chance of emerging as the largest of the smaller parties. The party’s leader, Holly Cairns, was already celebrating before a single vote was counted however, having announced the birth of her baby girl on polling day.
Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Meta CEO Mark Zuckerberg has reportedly donated $1m to Donald Trump's inaugural fund, marking the latest twist in the complicated relationship between the tech boss and the Republican president-elect. The donation has been confirmed by the Silicon Valley company, according to The Wall Street Journal, and comes despite Trump threatening the Facebook founder with jail just months earlier, if he attempted to influence the 2024 election. The move is the latest example of a tech CEO moving to make a conciliatory gesture towards Trump now that his return to the White House has been confirmed and his party have secured control over both chambers of Congress. Trump has been enjoying a very public "bromance" with Elon Musk in recent months while Amazon boss Jeff Bezos, a long-time enemy of the blustering New York property tycoon, praised his November 5 win as "an extraordinary political comeback and decisive victory." "What I've seen so far is that he is calmer than he was the first time and more confident, more settled," Bezos recently told a New York Times conference. Now Zuckerberg appears to be continuing on his goal to build bridges with the president-elect. The Meta boss dined at Trump's... Joe Sommerlad
As the beta test approaches, gamers are buzzing with excitement, discussing strategies, sharing tips, and forming teams to prepare for the upcoming battles. The hype surrounding "From The Forgotten" is building, with many already predicting that the game will be a hit in the competitive gaming scene.Michigan, Ohio State Players Brawl After Rivalry GameSeahawks safety Coby Bryant said earlier this week he had his “fingers crossed" that he might avoid punishment from the NFL for his celebration following a 69-yard interception return for a touchdown last Sunday that keyed Seattle’s 16-6 win over Arizona. It wasn’t to be as the NFL revealed Saturday that Bryant was indeed fined $6,594 for what was termed unsportsmanlike conduct for “obscene gestures” for his backward dive into the end zone accompanied by a little, uh, extracurricular activity that paid homage to former Seahawk Marshawn Lynch’s trademark move. There were no other fines levied from the game. In getting fined Bryant also found paid a small tribute to Lynch — Lynch was fined $11,050 following his dive-and-grab celebrating his “Beast Quake II’’ run against Arizona in 2014. Bryant also got better news from the league earlier in the week when he was named as the NFC’s Defensive Player of the Week. Bryant joked after the game that maybe Lynch would help him pay his fine. Ultimately, the Seahawks will likely consider it a small price to pay for what a play that may turn out to be as pivotal of the season. The play came on a fourth down with Arizona threatening to cut into Seattle’s 7-3 lead midway through the third quarter. The TD made it 13-3 and gave the Seahawks the breathing room they needed to win the game and move into a tie for first place with the Cardinals. Fine amounts are determined via a formula agreed to jointly by the NFL and the NFLPA and affirmed in the bargaining agreement between the two. Fines for games the previous week are revealed every Saturday. The NFL explains the fines as necessary to enforce “the league’s and the union’s expectations for players to conduct themselves in a way that honors the sport and respects the game, themselves, their fellow players, the fans and the league. The rules are intended to protect the players from unnecessary risk, promote player safety and emphasize sportsmanship and respect of teammates, opponents, coaches, officials and fans.’’ As explained on the league’s website, “fines collected are donated to the Professional Athletes Foundation to support Legends in need and the NFL Foundation to further support the health, safety and wellness of athletes across all levels, including youth football and the communities that support the game.’’Moving forward, Cloud Whale Intelligence plans to continue exploring opportunities for growth and expansion while maintaining a lean and efficient organizational structure. Zhang Jiaobin expressed confidence that the company's efforts to enhance efficiency will position it for long-term success and enable it to deliver value to customers and stakeholders.
Arizona WR Tetairoa McMillan to enter 2025 NFL DraftSauce Gardner Says He Won't Tell Bengals' Tee Higgins to Join Jets in NFL Free Agency
AQABA, Jordan (AP) — Top U.S. officials were in the Middle East on Thursday, pushing for stability in Syria and an end to Israel’s 14-month war in the Gaza Strip in a last-ditch diplomatic push by the outgoing Biden administration before President-elect Donald Trump takes office in a few weeks. Secretary of State Antony Blinken was in Jordan and Turkey for talks on how to ensure a peaceful transition of power in Syria following the ouster of longtime President Bashar Assad , while White House national security adviser Jake Sullivan was in Israel in a bid to wrap up a ceasefire with Hamas militants. A ceasefire would give President Joe Biden a final diplomatic victory after a turbulent term in which his administration has been unable to halt a brutal war that has claimed tens of thousands of lives in Gaza and plunged the territory into a humanitarian crisis. Trump has demanded the immediate release of hostages , threatening on social media that otherwise there would be “HELL TO PAY,” and has urged the U.S. not to get involved in Syria , where some 900 troops are based to combat the Islamic State militant group. Speaking to reporters in Tel Aviv, Sullivan expressed cautious optimism that conditions were ripe for halting the long-running conflict before the Biden administration leaves office. “I wouldn’t be here now if I didn’t think this thing was just waiting until after January 20,” he said of when Trump will be inaugurated. The war erupted with Hamas’ Oct. 7, 2023, cross-border attack, in which militants killed some 1,200 people in Israel and took 250 others hostage. Israel’s retaliatory offensive in Gaza has killed nearly 45,000 Palestinians, more than half of them women and children, according to Gaza health officials, caused widespread displacement and led to severe hunger across the territory. U.S.-led ceasefire efforts have repeatedly faltered throughout the war, with the warring sides blaming each other for the failure. Israel has said it is seeking the destruction of Hamas’ governing and military capabilities, at times pressing ahead with the offensive in the face of U.S. calls for restraint. Hamas, meanwhile, has stuck to its demands that any ceasefire include a permanent end to the fighting and full withdrawal of Israeli forces from Gaza. The U.S. has backed Israel with key military and diplomatic support. But at times, it also has appeared helpless in urging Israel to minimize civilian casualties and to enable the delivery of more humanitarian aid into Gaza . Sullivan said the rapid-fire changes across the region have improved the chances for success. He said Israel’s ceasefire with Hezbollah last month, ending more than a year of fighting, the collapse of Syria’s government and the heavy blow Israel has inflicted on Hamas have all changed the negotiating climate. He also said there has been good cooperation with the incoming Trump administration , with widespread agreement between them. “The surround sound of these negotiations is different today than it has been in the past,” Sullivan told reporters after meeting with Prime Minister Benjamin Netanyahu. “I got the sense from the prime minister that he’s ready to do the deal,” Sullivan added. “We see movement from Hamas.” Sullivan is now scheduled to head to Qatar and Egypt, which have served as mediators throughout the war. Any deal would include the release of hostages held by Hamas, an exchange of Palestinian prisoners held by Israel and a surge in badly needed humanitarian aid into Gaza. Israel says Hamas is holding about 100 hostages — at least one-third of whom are believed to have died. As Sullivan was in Israel, Blinken met with Jordanian and Turkish leaders to push for a peaceful transition of power in post-Assad Syria. “We’re back in the region at a time of both real promise but also peril for Syria and for its neighbors,” Blinken told reporters in Aqaba, Jordan, after meeting with King Abdullah II. He said the U.S. was working with its regional partners to help Syria “transition away from Assad’s brutal dictatorship” and toward a new government that isn’t dominated by any single religious or ethnic group, by an outside power or the Islamic State militant group. “We’re determined to do everything we can, working in close coordination with partners, to help the Syrian people realize that aspiration,” Blinken said. Syria is home to an array of armed groups with competing interests and allies. In northern Syria, U.S.-backed Kurdish separatists are battling to fend off fighters supported by Turkey. In the country’s center and northeast, the extremist Islamic State group maintains a presence that generates concern for the U.S. And the rebels, hailing mainly from the Sunni Muslim majority in Syria, face the daunting task of creating a transitional government for the war-ravaged country. The leader of Syria’s biggest rebel faction is a former al-Qaida commander whose Hayat Tahrir al-Sham group is poised to chart the country’s future. The U.S. and the U.N. have designated the hardline Sunni Islamist group a terrorist organization. The goal of creating a free and pluralistic Syria will be a challenge given the bad blood stretching across Syria’s sectarian lines after over half a century of Assad family rule and more than 13 years of civil war that claimed an estimated 500,000 lives. Blinken started his trip in Jordan, a close U.S. ally whose fragile economy has been strained over the years by an influx of hundreds of thousands of Syrian refugees. He then went to Turkey — a backer of Sunni rebels but a foe of the Kurds. In a late-night meeting with Turkish President Recep Tayyip Erdogan in a VIP lounge at Ankara’s airport, Blinken pressed the importance of keeping up the fight against IS. Officials called it an effort to urge the Turks not to launch military operations against U.S.-backed Kurdish rebels who Washington believes have been critical to battling IS. Blinken “emphasized the need to ensure the coalition to defeat ISIS can continue to execute its critical mission,” the State Department said, using another acronym for the Islamic State group. Israel, meanwhile, has sent troops into Syria — its northern neighbor — and seized a former buffer zone that had been demilitarized since a 1974 truce. Israel has described it as defensive, meant to protect its border and prevent armed groups from seizing weapons left behind by Assad’s army. Netanyahu said Thursday that the move was temporary. But he said Israel would remain inside Syria until another party can secure the border, raising the likelihood of a prolonged and open-ended presence. Sullivan tried to play down the Israeli move, noting that Assad was toppled just days ago and it is too early to jump to any conclusions. But Blinken was more cautious as he called for restraint by all regional players with interests in Syria. He said the U.S. is “already talking to Israel” and others about the future of Syria. “Across the board, when it comes to any actors who have real interests in Syria, it’s also really important at this time that we all try to make sure that we’re not sparking any additional conflicts,” he said. Federman reported from Jerusalem. Associated Press writer Chris Megerian contributed from Washington.
Upon learning of this selfless gesture, the homeowner was overcome with gratitude and touched by the neighbor's thoughtfulness. They were amazed by the lengths to which someone would go to care for another without seeking recognition or reward. The simple act of turning a dial had a profound impact on the homeowner, not just physically but emotionally as well. It was a reminder of the power of love and the importance of looking out for one another in a world that often feels cold and indifferent.Behind a record surge in cocoa prices this year, a corner of financial markets that drives the cost of chocolate underwent a seismic shift: the hedge funds that oiled its workings headed for the exit. Confectionery prices, from candy bars to hot chocolate, are heavily influenced by futures contracts for cocoa beans. These financial instruments, traded in London and New York, allow cocoa buyers and sellers to determine a price for the commodity, forming a benchmark for sales across the world. In the middle of last year, hedge funds – a class of investors that use privately pooled money to make speculative bets – started pulling back from trading cocoa futures because price swings in the market were raising their cost of trading and making it harder to make profits. They accelerated their retreat in the first half of this year as cocoa prices hit a record in April, driven by supply issues in West Africa, according to Reuters calculations based on data from the U.S. Commodity Trading Futures Commission (CFTC), which oversees the New York market, and ICE Futures Europe, an exchange that compiles figures for trading in London. “This market became increasingly volatile,” said Razvan Remsing, director of investment solutions at Aspect Capital, a $9.3 billion London-based fund that uses coding and algorithms to find trades. “Our system’s response was to trim our positions.” Aspect slashed the exposure to cocoa in its Diversified Fund from nearly 5% of its net asset value in January to less than one percent after April, according to a presentation reviewed by Reuters. The departure of hedge funds and other speculators caused liquidity in the market to slump, making it harder to buy and sell, stoking volatility to record highs and fueling the price spike still further. Reuters spoke to a dozen fund executives, cocoa market brokers and traders who said the retreat – described here in detail for the first time — has left lasting strains on the market. That has resulted in greater gaps between the price at which cocoa can be bought and sold, and has prompted some industry players to seek alternative instruments, leaving a lasting impact on the sector. This month, the number of futures contracts held globally at the end of a given trading day – a key indicator of market health known as “open interest” – hit its lowest since at least 2014, the global figures show, a sign the futures market overall has shrunk significantly. Data prior to 2014 was not available. On Wednesday, New York cocoa futures prices topped their April peak. The futures market is a crucial cog in the cocoa industry, allowing producers and chocolate companies to hedge their exposure to swings in the price of beans. Futures dictate income for the farmers and low-income nations that produce the world’s cocoa – the majority of which comes from Ghana and Ivory Coast in West Africa. Hedge funds and speculators have become bigger players in commodity markets over the past two decades as the value of their overall assets has grown. But, as purely financial investors, they have no need to remain in the market at times of stress. The impact of hedge funds’ exit illustrates how reliant trading has become on these lightly regulated funds that increasingly shape financial markets. Reuters has reported this year on how hedge funds are piling into the euro zone’s $10 trillion government bond market, drawing regulatory scrutiny, and on their growing sway in European stock trading. Contacted by Reuters, the CFTC declined to comment. A representative for Britain’s regulator, the Financial Conduct Authority, said that, in line with its market supervision practice, “we have been working with trading venues and participants to monitor the orderliness of the market.” Bernhard Tröster, an economist at the Austrian Foundation for Development Research (ÖFSE) in Vienna, who last year co-authored a paper on the growing role of financial actors in commodities derivatives markets, said the withdrawal of hedge funds had helped fuel the crisis in cocoa markets. “When markets became so volatile this year, it was clear how hedge funds and other financial actors have become so important,” he said. SUPPLY ISSUES HIT PRICES Hedge funds and other speculators’ share of the market peaked at 36% in May 2023, the highest in at least a decade, after which their retreat began, the global data calculated by Reuters show. Then, at the start of this year, global cocoa prices soared after top producer Ivory Coast was hit by adverse weather and disease. Number two producer Ghana fared even worse, with smuggling, illegal gold mining on cocoa farms and sector mismanagement added to the mix. In early February, cocoa prices surpassed a previous record high set in 1977. Executives at five hedge funds told Reuters they began to withdraw as volatility grew and the cost of trading increased. When markets become too hot, exchanges require speculators to increase the amount of collateral they put down per futures contract, raising their costs. Lawrence Abrams, president of Absolute Return Capital Management in Chicago, said the cost of trading a single cocoa futures contract soared from $1,980 in January to $25,971 by June. High prices and volatility, combined with falling liquidity, began to affect “our system’s trading and risk management decisions,” Abrams said, whose fund sold out before prices peaked in April. He declined to detail how much his fund managed, citing regulatory reasons. Many hedge funds promise investors they will not exceed a certain amount of risk, meaning that if a certain market becomes too volatile they have to reduce their exposure. The difference between prices offered and sought for futures, the so-called “bid-ask spread”, soared following the hedge funds’ withdrawal. That has made trading harder: lower liquidity and wider spreads mean traders struggle to execute large trades without moving overall prices. “You need speculators,” said Vladimir Zientek, a trading associate at brokerage firm StoneX, referring to hedge funds, which are not among his clients. “Without speculators in the market, you lose a lot of liquidity, which allows for these very wide and erratic market swings.” By mid-April, New York contracts hit a then-record above $12,000, up three-fold from January, prompting hedge funds to sell down their positions. “Trends don’t last forever,” said Remsing at Aspect Capital. “Stay too long in size and you stand to give back all your gains.” Hedge funds’ share of the cocoa futures market dropped to 7% in late May, its lowest in at least a decade, the global data show. One European broker, who requested anonymity to discuss clients’ trades, said that panic in the market increased in March and April as liquidity drained away. Volatility in cocoa futures hit an all-time high in May, up five-fold from a year earlier, according to data from the London Stock Exchange Group (LSEG). Daily average price swings that month neared $800, some 15 times the levels of a year earlier, according to a Reuters analysis of figures from market data provider PortaraCQG. RISKIER MARKETS For major trading houses that buy and sell cocoa beans – a group that includes Singapore’s Olam (OLAG.SI), Switzerland’s Barry Callebaut (BARN.S), and U.S.-based Cargill – the liquidity drain and associated price surge exacerbated the more than-$1 billion dollar hit they took on their futures positions. The losses came earlier this year after Ghana, following a disastrous harvest in the October 2023 to September 2024 season, delayed delivery on nearly half the beans the nation had pledged to sell, upsetting cocoa traders’ futures market strategies. These traders typically use futures to lock in prices achieved for cocoa beans, or to hedge against the risk of falling prices. But that strategy unraveled as Ghana delayed its deliveries. Traders were forced to liquidate, at steep losses, short positions for the month of expected delivery, and take new short positions. The market turmoil has prompted some trading houses and producers to seek alternatives to futures. Australian investment bank Macquarie, a big player in commodity markets, told Reuters it sold over-the-counter products to trading houses, processors and chocolate makers when cocoa volatility hit record levels this year, and demand remains high. One major agri-commodities trader is now using such bespoke contracts, according to a source who requested anonymity citing sensitive commercial relationships. They declined to comment on the magnitude of the business. Such products typically protect buyers against narrower price swings than is possible with futures, limiting their use, a European broker said, declining to be identified to freely discuss clients’ activity. ‘COCOA TOURISTS’ Some hedge funds have returned to the market. Along with other speculators that trade using investors’ cash, they accounted for 22% of futures trading this month, according to the global data. But buying and selling in the cocoa market’s altered landscape has become harder. Zientek, the trading associate at StoneX, said bid-ask spreads can now top 20 “ticks” – $200 per contract – compared to about 2-4 ticks before cocoa’s rally to record highs. “This makes larger orders tougher to execute without seeing an immediate distortion in the market,” he said. Daniel Mackenzie, managing director of Cocoa Hub, a UK-based company that sources and sells cocoa beans to artisan chocolate makers, said higher and more volatile prices were forcing small and medium-sized makers to decide between passing costs to clients or reducing product sizes. One chocolate maker he worked with has been shuttered and another sold, he said, without providing further details. As hedge funds exited, short-term investors such as day-traders – which buy and sell assets within a single trading day – have stayed in the market, the European broker and the broker at the agri-commodities bank said. The cohort that includes day-traders this month accounted for 5% of the market, about the same as the start of the year, the global data show. Day-traders cannot fulfill the liquidity-provision role traditionally played by hedge funds, the two brokers said. “I like to call them ‘cocoa tourists’ – they move in, hold a position for a day or two, then move out,” the European broker said. Watch the latest edition of BizTech below: Click here to follow the GhanaWeb Business WhatsApp channel
Pakistani court indicts imprisoned former PM Imran Khan and his wife for corruptionGreen is poised to help scale Mechanized AI's revolutionary technology and drive operational excellence as the company enters a phase of rapid growth. ATLANTA , Dec. 12, 2024 /PRNewswire/ -- Mechanized AI , a pioneer in the enterprise AI and application modernization space, proudly announces the designation of Amy Green as its new Chief Operating Officer. With over 15 years of industry experience, Green brings a wealth of expertise in operations, professional services and technology product marketing to the trailblazing enterprise AI and application transformation startup. Her appointment underscores Mechanized AI's commitment to combining groundbreaking technology with top-tier leadership to maintain its competitive edge in the marketplace. Based in Dallas , Green joins the team with an extensive background in operational management and strategic execution at Deloitte Consulting, where she built and grew the Product Engineering group within their Application Modernization & Innovation practice with Charles Wright , CEO of Mechanized AI. Prior to this, Green served on Deloitte's Global Strategy & Innovation team, where she advised teams across the global network on bringing technology products to market and driving scalable growth. A former Executive Search Consultant with Russell Reynolds Associates, Green has advised Fortune 100 clients on complex leadership challenges and recruited top executives to lead transformation at public and private organizations. Previously, Green also served as Strategic Engagement Director at AIG within the Office of the Chief Technology Officer. Green obtained her undergraduate degree from Harvard University and her MBA from UC San Diego's Rady School of Management. "Amy's deep expertise in managing world-class organizations will be critical to ensure we have the people, processes and technology in the right places to drive our operations forward," says Wright. "Her mastery of leading companies through transformation journeys and category creations will be invaluable as we roll out new products and strengthen our collaboration with strategic partners. Amy has already hit the ground running as COO and she will be a crucial asset in building a client-centric business as we position ourselves for sustainable growth." As COO, Green will oversee delivery and customer success, human resources, operations and marketing—key areas vital to Mechanized AI's ongoing success and ambitious growth objectives. She joins a veteran team of startup and consulting executives, including Aditya Muralidhar (Chief AI Officer), Matias Kreder (CTO), Ian Easton (CCO) and recently, Jenny Allen (CMO). "I'm honored to join Mechanized AI as COO and to collaborate with such a talented, passionate team in the rapidly evolving AI space," Green remarked. "Having had the privilege of working with Charles in the past, I'm confident in his ability to drive the company's vision and direction. Mechanized AI is uniquely positioned for growth and innovation, so I'm excited to help scale the organization and deliver impactful solutions that drive transformation for our clients." Launched in 2023, Mechanized AI has grown its team of experts by over 50 percent in 2024 and has locations throughout the U.S. and South America . Green's appointment comes at a pivotal moment as Mechanized AI expands its global operations and scales its enterprise AI and application modernization solutions across industries. About Mechanized AI: Mechanized AI was launched in 2023 to help companies unlock the power of enterprise AI and accelerate their application modernization journeys. Built and backed by a team with over four decades of combined AI/ML experience, the product suite enables end-to-end AI development and deployment and transforms traditional modernization workflows by automating complex, manual processes. The AI Factory platform is a turnkey solution to build Fortune 500-quality production AI for both enterprise and mid-market businesses. The mAI Modernize suite of products provides AI-powered code modernization for any tech stack, empowering clients to understand and modernize legacy code in hours versus months. For more information, set up a demo at Mechanized.ai , follow us on LinkedIn and X , and view open positions on our Careers page . View original content to download multimedia: https://www.prnewswire.com/news-releases/mechanized-ai-announces-expansion-of-executive-team-with-appointment-of-amy-green-as-coo-302330807.html SOURCE Mechanized AI
The injuries to Evans and Shaw serve as a reminder of the challenges that teams face in maintaining a consistent lineup throughout the season. Injuries are an unfortunate reality in football, and they can disrupt a team's rhythm and performance. However, it is also an opportunity for other players to step up and prove their worth, as Manchester United and Leicester City will need to rely on their depth to navigate through this challenging period.In conclusion, the ALIYUN data center fire incident, while concerning, ultimately highlighted the resilience and effectiveness of ALIYUN's response protocols. The prompt extinguishing of the fire and the minimal impact on cloud services demonstrate ALIYUN's commitment to customer satisfaction and data security. As the investigation into the incident progresses, ALIYUN remains focused on ensuring the continued reliability and integrity of their cloud services.Honor, a leading global technology brand, has recently made a significant announcement that has sparked excitement among gaming enthusiasts and technology aficionados alike. The highly anticipated Honor GT gaming smartphone is all set to be officially unveiled on December 16th, promising a groundbreaking gaming experience like never before. To top it off, the announcement also revealed that the King Pro League (KPL) champion, Yino, will be actively involved in the performance tuning of this cutting-edge device.
With a masterful blend of humor and suspense, the comedian revealed that Lady Conch was not just an eccentric shell collector, but a malevolent entity who preyed on unsuspecting women in the dead of night. Her shell collection, it turned out, was not just a hobby but a sinister means of luring her victims into her clutches.In conclusion, the latest update for "Black Myth: Wukong" is a testament to the developers' commitment to delivering an exceptional gaming experience for players around the world. With its plethora of new features, characters, weapons, and enhancements, the update promises to elevate the game to new heights and provide players with hours of immersive and engaging gameplay. So what are you waiting for? Dive into the world of "Black Myth: Wukong" today and experience the thrill of epic battles, mystical powers, and ancient legends like never before!
