None
8 po
。
Pathstone Holdings LLC Trims Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)Rich countries' promise of $300 billion a year in climate finance brought fury at talks in Baku from poor nations that found it too paltry, but it also shows a shift in global political realities. The two-week marathon COP29 climate conference opened days after the decisive victory in the US presidential election of Donald Trump, a sceptic both of climate change and foreign aid. In the new year, Germany, Canada and Australia all hold elections in which conservatives less supportive of green policies stand chances of victory. Britain is an exception, with the new Labour government putting climate high back on the agenda, but in much of the West, concerns about inflation and budgetary shocks from Russia's invasion of Ukraine have dented enthusiasm for aggressive climate measures. At COP29, Germany and the European Union maintained their roles championing climate but also advocated a noticeably practical approach on how much money historical polluters should give poorer countries. "We live in a time of truly challenging geopolitics, and we should simply not have the illusion" otherwise, European climate commissioner Wopke Hoekstra told bleary-eyed delegates at COP29's pre-dawn closing session Sunday, as activists in the back loudly coughed to drown him out. But he vowed leadership by Europe, hailing COP29 as "the start of a new era for climate finance". German Foreign Minister Annalena Baerbock, a Green party member and longtime climate advocate, called for flexibility on ways to provide funding. Europe should "live up to its responsibilities, but in a way that it doesn't make promises it can't keep", she said. Avinash Persaud, special advisor on climate change to the president of the Inter-American Development Bank, called the final deal "the boundary between what is politically achievable today in developed countries and what would make a difference in developing countries". Activists say that climate funding is a duty, not choice, for wealthy nations whose decades of greenhouse gas emissions most contributed to the crisis that most hits the poorest. This year is again set to be the hottest on record on the planet. Just since COP29, deadly storms have battered the Philippines and Honduras, and Ecuador declared a national emergency due to drought and forest fires. Wealthy historic emitters' promise of $300 billion a year by 2035 is a step up from an expiring commitment of $100 billion annually, but all sides acknowledge it is not enough. The COP29 agreement cites the need for $1.3 trillion per year, meaning a whopping $1 trillion a year needs to come from elsewhere. Even within the $300 billion commitment, some activists see too much wiggle room. "It is, to some extent, almost an empty promise," said Mariana Paoli, the global advocacy lead at London-based development group Christian Aid. She described the target as "creative accounting", saying there was not enough clarity on how much money would come from public funds and in grants rather than loans. She acknowledged the politics of the moment but said that wealthy nations had options such as taxation on fossil fuel companies. "There is a backlash because there is no political will," she said. In one closely scrutinised part of the Baku deal, countries will be able to count climate finance through international financial institutions toward the $300 billion goal. The text states that it is "voluntary" -- potentially opening the way to include China, which is the world's largest emitter but refuses to have requirements like long-developed countries. In a joint statement at COP29, multilateral development banks led by the Washington-based World Bank Group but also including the Beijing-based Asian Infrastructure Investment Bank -- which has long faced US criticism -- expected that they together can provide $120 billion annually in climate financing and mobilise another $65 billion from the private sector by 2030. Melanie Robinson, director of the global climate program at the World Resources Institute, said there were good reasons to rely on multinational development banks, including how much capital they can leverage and their tools to advance green policies. "They are the most effective way to turn each dollar of finance into impact on the ground," she said. She agreed that the $300 billion was insufficient but added, "It's a down payment on what we need." Beyond the debate on dollar figures, she pointed to an initiative within the G20 by Brazil, which holds COP30 next year, to reform financial institutions so as to incorporate debtor nations as well as climate concerns. "There is really a much bigger opportunity for us -- which is shifting the whole financial system," she said. sct/giv
Total Thanksgiving audience sets all-time record
With just 63 more votes than his opponent, former Cupertino Planning Commissioner Ray Wang has won a spot on the City Council, ending a lengthy contest — that included a recount — against Rod Sinks to fill the second open seat. Wang finished the contest with 7,641 votes, or 18.5% of the vote while Sinks got 7,578 votes or 18.4% of the vote. The numbers come as a recount by the Santa Clara County Register of Voters ended on Monday, the county confirmed. The final results will be certified on Friday. “We’re super excited, it shows how every vote counts,” Wang said. “We do the hard work, we read the stuff. I’m really looking forward to working with (Moore). Our goal is to bring the community together.” Sinks said he is disappointed by the loss, but looks forward to serving on other nonprofit boards and “contributing to the community in different ways.” A recount is triggered when the margin of victory between two candidates is less than 0.25% of all ballots cast, or less than 25 votes. A candidate only needs to win by a simple majority once a recount is finished. The Cupertino candidates were previously separated by 65 votes, which the Register of Voters recognizes as meeting the 0.25% requirement. Wang will join incumbent Councilmember Kitty Moore in leading the city for the next four years. Moore won the first seat with 10,344 votes or 25.14% of the vote. Moore and Wang ran on a joint platform to promote a “resident first” council by advocating for more fiscal accountability and responsible development in the city. Moore refers to herself as a “smart watch dog” when it comes to dealing with council affairs and proposed new city developments. Sinks ran a campaign aimed at expanding transportation services and eco-friendly practices in the city. He also advocated for turning The Rise, the site of the former Vallco Mall, into a vibrant business-friendly downtown for Cupertino. Sinks and Councilmember Hung Wei closely supported each other during the race, which was complicated by Wei’s stage four lung cancer diagnosis. “We ran a very strong campaign,” Sinks said. “Unfortunately for two people, we’re running against five people for the two seats.” Sinks said he is concerned at how the newly-elected leaders will impact the city’s developments plans for The Rise and downtown areas. Mayor Sheila Mohan, Vice Mayor J.R. Fruen and Wei have favored pro-development. But with the addition of Moore and Wang, who have been more critical of council approval of large projects, the city’s leaders could embark on a less development-friendly route. Aside from Sinks, Moore and Wang, four other candidates were in the race to fill Cupertino’s two open council seats this election season, including incumbent Wei, former mayors Gilbert Wong and Barry Chang and political newcomer Claudio Bono.Ultimate guide to Bitcoin: How and what to buy, how to protect yourself... and if you can make a fortune By GEOFF HO Updated: 22:44 GMT, 3 December 2024 e-mail View comments Bitcoin’s booming price has prompted a surging interest in cryptocurrencies, with growing numbers tempted to join what is being called the ‘digital goldrush’. The most popular cryptocurrency, Bitcoin, has had a storming year so far and is up 128 per cent. Its main rival Ethereum is up 56 per cent and challenger Solana is flying 121 per cent higher this year. However, getting started is easier said than done. Cryptocurrency trading is rife with danger. While some traders are making extraordinary gains, there is also a serious risk that you could lose most or even all your money. Scammers abound, ready to take advantage of those lacking experience in crypto trading. Furthermore, you cannot buy and sell cryptocurrencies on the traditional investment platforms such as Hargreaves Lansdown or AJ Bell. Here, Money Mail looks at everything you need to know to get started and talks you through the process step by step. Remember that buying and selling cryptocurrencies is not investing – it is risky and you should only use money that you can afford to lose. Crypto rally: The most popular cryptocurrency, Bitcoin, has had a storming year so far and is up 124%. Its main rival Ethereum is up 56% and challenger Solana is flying 121% higher this year Just what are cryptocurrencies? They are essentially digital money, an alternative to traditional currencies such as the pound or dollar. As with real-world currencies, their value is determined by what people in the market are willing to buy and sell them for. Transactions are logged on a secure decentralised digital ledger called blockchain, so they are not controlled by states, banks or other financial institutions, unlike traditional currencies. However, unlike traditional currencies, they are very rarely used to purchase goods and services – at the moment. Bitcoin is occasionally accepted – for example, at some hipster cafes – but in general cryptocurrencies are simply bought, sold and traded. Also unlike traditional currencies, anyone can create a cryptocurrency – but whether or not it catches on as something that other people will want to buy is another matter. Launched in 2009, Bitcoin is the oldest, most established and most mainstream. However, it is just one of an estimated 9,000 active cryptocurrencies that are being traded. RELATED ARTICLES Previous 1 Next Call to get crypto regulated as FCA reveals 7M Britons now... Tricks to turbocharge your loyalty card points - and... Share this article Share HOW THIS IS MONEY CAN HELP How to save money on energy: What you need to know and energy-saving tips that work Where do I get started? You buy and sell on a cryptocurrency trading platform, in the same way that you might buy shares or funds on a conventional DIY investing platform. There are a number of cryptocurrency trading platforms operating in the UK. Glen Goodman, author of bestselling book The Crypto Trader, recommends picking a platform that is based in the US or UK, as they are more likely to be trustworthy. He suggests Coinbase and Kraken as both are based in the US. They are also partially regulated by the Financial Conduct Authority. However, this does not mean that users benefit from full protection on their cryptocurrency trading in the same way that they would with traditional investments such as shares and funds. ‘Both are based in the US, which has some regulations and protections,’ says Goodman. ‘Coinbase itself is also floated on the New York stock exchange, which gives some degree of comfort.’ Trading platform eToro and digital bank Revolut also allow their users to trade in cryptocurrencies. While this service is not regulated, both carry out other activities that are regulated by the FCA. How do I open an account? Once you’ve picked a platform, you will need to sign up as a user. This is not as simple as picking a username and password and away you go. We’ve used the example of signing up through Coinbase. However, Kraken, eToro and Revolut will bear many similarities. First, you set up a username and password, which creates your account. Next, you are asked to fill in personal details, such as your date of birth, National Insurance number, nationality, employment status and how you intend to fund your account (eg. from your salary, savings or an inheritance). Then the questions get even more detailed. For example, you are asked how much you expect to transfer to your account each year, what industry you work in and your annual income. The next set of questions are designed to ascertain whether or not you understand the risks of trading in cryptocurrencies. For example, you are asked whether you intend to invest less than 10 per cent of your assets in cryptocurrencies or whether you are a high-net-worth investor – in other words, you have money you may be able to afford to lose. If you fit neither category, you may not be well suited to cryptocurrency trading. If you get through these stages, you will be asked to upload proof of ID – photographs of your passport or driving licence, for example. And you will be asked to use the camera on your smartphone to take a selfie and upload it. You will also be asked to link a payment method to your account so that you can transfer funds with which to buy cryptocurrencies. You can do this by inputting your debit or credit card details. After that, Coinbase presents its users with a ‘knowledge quiz’ to check whether you fully understand how trading works and the risks. The questions are in-depth and if you are completely new to cryptocurrency trading you may have to do some research to answer correctly. Finally, you’re ready to go. However, in the case of Coinbase you are put into a 24-hour ‘cooling off period’ to ‘consider whether you wish to continue with this investment’. At this point, you can continue to use the platform to browse prices and learn about cryptocurrency, but you cannot trade until the 24 hours is up. What money can I use to trade? Once signed up, you’ll have to fund your account, for example using debit cards or credit cards. If you use your debit card, then when you buy cryptocurrencies on the platform the money will be taken directly from the current account that your debit card is linked to. However, because of the risks of cryptocurrencies, many banks restrict how their customers can buy it. Some will not allow you to use a credit card to buy it and some trading platforms do not permit this method of payment either. For example, HSBC sets a £2,500 limit for a single transaction to a cryptocurrency platform and £10,000 over 30 days for transfers to crypto-exchanges with a debit card. It blocks any attempt to use a credit card to fund crypto purchases. But it will allow customers to transfer money from their crypto-exchange wallets to their bank accounts. Santander takes a stricter approach, limiting customers to £1,000 per transaction and £3,000 for any rolling 30-day period. Nationwide will allow people to spend up to £5,000 a day on cryptocurrencies, depending on the type of current account they have. Newer digital banks such as Monzo and Revolut have fewer restrictions. While the latter will allow 100 transactions a day, they are subject to limits depending on what digital currency you buy or sell. While Monzo allows customers to use exchanges to buy and sell crypto, it will block transactions it regards as risky. How do I buy and sell? Once you have funds in your account, you can use them to buy the cryptocurrencies of your choice. On the homepage of the platform, hit the button that says ‘buy and sell’. You should be given the option either to buy cryptocurrency using cash, or to buy it using other cryptocurrency holdings you already own. You can scroll through the list of cryptocurrencies available to find the one you want. Click on that one and then input how much you wish to buy in pounds and pence. The platform should tell you what price you are paying at that moment. Prices are very volatile, so they will be constantly changing. Selling is just as simple. You state which of your cryptocurrencies you would like to sell and how much of it – with the value measured in sterling. When you hit ‘sell’, the money should be returned to your sterling account on the platform, which you can withdraw back into your current account when you choose. If you’re using platforms such as eToro, Revolut or Coinbase, your money should be returned instantly. In some instances there may be a delay while security checks are carried out. Platforms don’t tend to charge a membership fee. Instead they charge you a percentage or set fee when you buy or sell – and when you return money from the platform to your linked current account. Trades: You buy and sell on a cryptocurrency trading platform, in the same way that you might buy shares or funds on a conventional DIY investing platform What should I buy? This is the $100,000 question – though you can buy fractions of a cryptocurrency coin. While some traders have precise trading strategies and theories about which cryptocurrencies are set to rocket – and which are about to plunge – much is reliant on luck and the changing sentiment of other traders. When the price of a coin is going up, it indicates that other traders like you are willing to pay more for it. But the tide can turn and traders become willing to accept lower prices to offload their holdings – and then the price falls. These movements can happen very quickly. Danny Scott, chief executive of the CoinCorner dealer and payments group, suggests that for people new to the world of digital currencies, Bitcoin may be the best bet. This is because it has the longest track record, is the biggest market at $1.9trillion and is becoming an increasingly accepted part of the mainstream financial system. ‘I’d stick to Bitcoin,’ he says. ‘Any other cryptocurrencies are more akin to gambling as to which will perform well and which won’t.’ Bitcoin threatened to hit $100,000 (£78,946) a coin following Donald Trump’s presidential election victory in the US last month, but since then its performance has cooled. However, with the pro-crypto Trump in the White House, IG Markets analyst Tony Sycamore says the market expects it to make a fresh move on the $100,000 level ‘in the coming weeks’. The second biggest cryptocurrency, Ethereum, is up 62 per cent over 12 months to $3,572 (£2,814). Scott says that sentiment towards Bitcoin will ultimately determine its future performance. XRP is the third biggest of the digital currencies. It currently trades at $2.56 (£2.02), but traders are optimistic about its prospects as the barriers it faces to adoption in the US could be cleared next year by the Trump administration. Am I protected? As cryptocurrencies are unregulated, you have no protection should anything go wrong and have no recourse to safety nets such as the Financial Services Compensation Scheme. Matthew Long, FCA director of payments and digital assets, says: ‘If you buy crypto, you should be prepared to lose all your money.’ Since the FCA cracked down on crypto adverts, it has issued 1,702 alerts, taken down over 900 scam crypto websites and over 50 apps. Be wary of adverts you find on social media, or anyone contacting you out of the blue with offers to help you trade cryptocurrencies. Danny Scott, chief executive of the Coincorner dealer and payments group, says: ‘If somebody approaches you via phone, email or any other digital form talking you through buying cryptocurrencies of any kind, just stop! ‘Do not follow guidance from random companies you may have come across via Facebook ads or cold outreaches. ‘Some due diligence, such as a Google search about the company you are potentially dealing with, will also give you an overview of whether they are legitimate or not.’ If you are not confident trading your own money, you could consider a dummy trading account offered by platforms such as eToro. These allow you to play around with trading without using real money. A spokesperson for Binance, the world’s biggest cryptocurrency exchange, says that while the market is maturing fast and is more stable than it was a few years ago, it is imperative that people still take the time to learn about it first and understand their limits, before making any investments. The spokesperson added: ‘Investors should take time to understand market dynamics to make informed decisions and align their investment and trading strategies with their own risk appetite.’ Do i have to pay tax? If you make a profit from cryptocurrencies and cash it in, you could face a tax bill. Crypto profits are treated as capital gains. All taxpayers have an annual capital gains tax-free allowance of £3,000 each tax year. Any profits on top of that are taxable. Go to gov.uk/capital-gains-tax/rates to see how much you could pay. No taxes are due until you sell the cryptocurrency. Plus, if you sell your Bitcoin or other crypto assets at a loss, HMRC says that can be used against future capital gains. Glen Goodman recommends that anyone buying or selling cryptoassets keep detailed records and regularly update the taxman. ‘People think crypto is outside of the system,’ he says. ‘It is not and never was. ‘The taxman always treated it like stocks, so if you go above the tax-free limit, you have to pay capital gains tax.’ SAVE MONEY, MAKE MONEY 1% cashback 1% cashback On debit card spending. Max £15 p/m* Learn More Learn More Energy bills Energy bills Find out if you could save with a fixed tariff Learn More Learn More Free share offer Free share offer No account fee and free share dealing Learn More Learn More 4.5% 1-year Isa 4.5% 1-year Isa Hampshire Trust with Hargreaves Lansdown Learn More Learn More Sipp fee offer Sipp fee offer Get six months fee-free on a Sipp Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. *Chase: Cashback available for first year. Exceptions apply. 18+, UK residents. Share or comment on this article: Ultimate guide to Bitcoin: How and what to buy, how to protect yourself... and if you can make a fortune e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.
Dr Martens' huge end of year sale has 40% off best selling boots, sandals and loafersBy KAREEM CHEHAYEB BEIRUT (AP) — In 2006, after a bruising monthlong war between Israel and Lebanon’s powerful Hezbollah militant group, the United Nations Security Council unanimously voted for a resolution to end the conflict and pave the way for lasting security along the border. But while there was relative calm for nearly two decades, Resolution 1701’s terms were never fully enforced. Now, figuring out how to finally enforce it is key to a U.S.-brokered ceasefire deal approved by Israel on Tuesday. In late September, after nearly a year of low-level clashes , the conflict between Israel and Hezbollah spiraled into all-out war and an Israeli ground invasion . As Israeli jets pound deep inside Lebanon and Hezbollah fires rockets deeper into northern Israel, U.N. and diplomatic officials again turned to the 2006 resolution in a bid to end the conflict. Years of deeply divided politics and regionwide geopolitical hostilities have halted substantial progress on its implementation, yet the international community believes Resolution 1701 is still the brightest prospect for long-term stability between Israel and Lebanon. Almost two decades after the last war between Israel and Hezbollah, the United States led shuttle diplomacy efforts between Lebanon and Israel to agree on a ceasefire proposal that renewed commitment to the resolution, this time with an implementation plan to try to bring the document back to life. In 2000, Israel withdrew its forces from most of southern Lebanon along a U.N.-demarcated “Blue Line” that separated the two countries and the Israeli-annexed Golan Heights, which most of the world considers occupied Syrian territory. U.N. peacekeeping forces in Lebanon, known as UNIFIL , increased their presence along the line of withdrawal. Resolution 1701 was supposed to complete Israel’s withdrawal from southern Lebanon and ensure Hezbollah would move north of the Litani River, keeping the area exclusively under the Lebanese military and U.N. peacekeepers. Up to 15,000 U.N. peacekeepers would help to maintain calm, return displaced Lebanese and secure the area alongside the Lebanese military. The goal was long-term security, with land borders eventually demarcated to resolve territorial disputes. The resolution also reaffirmed previous ones that call for the disarmament of all armed groups in Lebanon — Hezbollah among them. “It was made for a certain situation and context,” Elias Hanna, a retired Lebanese army general, told The Associated Press. “But as time goes on, the essence of the resolution begins to hollow.” For years, Lebanon and Israel blamed each other for countless violations along the tense frontier. Israel said Hezbollah’s elite Radwan Force and growing arsenal remained, and accused the group of using a local environmental organization to spy on troops. Lebanon complained about Israeli military jets and naval ships entering Lebanese territory even when there was no active conflict. “You had a role of the UNIFIL that slowly eroded like any other peacekeeping with time that has no clear mandate,” said Joseph Bahout, the director of the Issam Fares Institute for Public Policy at the American University of Beirut. “They don’t have permission to inspect the area without coordinating with the Lebanese army.” UNIFIL for years has urged Israel to withdraw from some territory north of the frontier, but to no avail. In the ongoing war, the peacekeeping mission has accused Israel, as well as Hezbollah , of obstructing and harming its forces and infrastructure. Hezbollah’s power, meanwhile, has grown, both in its arsenal and as a political influence in the Lebanese state. The Iran-backed group was essential in keeping Syrian President Bashar Assad in power when armed opposition groups tried to topple him, and it supports Iran-backed groups in Iraq and Yemen. It has an estimated 150,000 rockets and missiles, including precision-guided missiles pointed at Israel, and has introduced drones into its arsenal . Hanna says Hezbollah “is something never seen before as a non-state actor” with political and military influence. Israel’s security Cabinet approved the ceasefire agreement late Tuesday, according to Prime Minister Benjamin Netanyahu’s office. The ceasefire is set to take hold at 4 a.m. local time Wednesday. Efforts led by the U.S. and France for the ceasefire between Israel and Hezbollah underscored that they still view the resolution as key. For almost a year, Washington has promoted various versions of a deal that would gradually lead to its full implementation. International mediators hope that by boosting financial support for the Lebanese army — which was not a party in the Israel-Hezbollah war — Lebanon can deploy some 6,000 additional troops south of the Litani River to help enforce the resolution. Under the deal, an international monitoring committee headed by the United States would oversee implementation to ensure that Hezbollah and Israel’s withdrawals take place. It is not entirely clear how the committee would work or how potential violations would be reported and dealt with. The circumstances now are far more complicated than in 2006. Some are still skeptical of the resolution’s viability given that the political realities and balance of power both regionally and within Lebanon have dramatically changed since then. “You’re tying 1701 with a hundred things,” Bahout said. “A resolution is the reflection of a balance of power and political context.” Now with the ceasefire in place, the hope is that Israel and Lebanon can begin negotiations to demarcate their land border and settle disputes over several points along the Blue Line for long-term security after decades of conflict and tension.Climate finance’s ‘new era’ shows new political realitiesNone
FEMA under investigation over Trump supporter discriminationIn 1979, brothers Jeff and Steven McDonald, who were not yet old enough to drive, started a band, Redd Kross . Now, 45 years later, the Year of Redd Kross kicked off in June with the release of a double album in June. A memoir, “Now You Are One of Us: The Incredible Story of Redd Kross,” followed, with the McDonalds writing their own individual sections and coauthor Dan Epstein adding context between chapters. This month, a documentary, “Born Innocent: The Redd Kross Story,” begins a round of special screenings, some with the band in attendance. Jeff McDonald, left, and Steven McDonald, right, share a look during an interview about their band, Redd Kross, in the new documentary, “Born Innocent: The Redd Kross Story,” which opens in Dec. 2024. (Film still courtesy of ‘Born Innocent’) Brothers Jeff and Steve McDonald formed the band Redd Kross in Hawthorne when Jeff was 15 and Steven was 11. “Born Innocent: The Redd Kross Story” is a new documentary that traces Redd Kross from its birth in Hawthorne in 1979 to its 45th anniversary as cult heroes of Southern California punk and power pop. (Film poster courtesy of ‘Born Innocent’) Redd Kross formed in the late ’70s when brothers Jeff McDonald, left, and Steven McDonald, right, were still to young to drive. They celebrate their 45th anniversary as a band in 2024 with the release of a new documentary, “Born Innocent: The Redd Kross Story,” as well as a memoir and a self-titled double album. (Photo by Al Flipside) Jeff McDonald, left, and Steven McDonald, right, laugh during an interview about their band, Redd Kross,” in the new documentary, “Born Innocent: The Redd Kross Story,” which opens in Dec. 2024. (Film still courtesy of ‘Born Innocent’) Southern California cult heroes Redd Kross, founded by Jeff McDonald, center, and Steven McDonald, right, are the subjects of the new documentary, “Born Innocent: The Redd Kross Story,” which opens in Dec. 2024. (Film still courtesy of ‘Born Innocent’) Jeff McDonald, left, and Steven McDonald, right, check out the copy of the Beatles’ “White Album” that inspired them as boys growing up in Hawthorne. The new documentary “Born Innocent: The Redd Kross Story” opens in Dec. 2024. (Film still courtesy of ‘Born Innocent’) Redd Kross celebrates its 45th anniversary this year with a new documentary, “Born Innocent: The Redd Kross Story,” as well as a memoir and a self-titled double album. Seen here in a still from the film are brothers Jeff McDonald, left, and Steven McDonald, right, performing on the Santa Monica Pier early in their career. (Film still courtesy of ‘Born Innocent.’) Southern California cult heroes Redd Kross, founded by Jeff McDonald, center, and Steven McDonald, right, perform at the Observatory in Santa Ana, where they were touring with the Melvins, the Seattle band for which Steven McDonald is also the bass player. The new documentary, “Born Innocent: The Redd Kross Story,” opens in Dec. 2024. (Photo by Steve Appleford) Redd Kross celebrates its 45th anniversary this year with the new documentary “Born Innocent,” the memoir “Now You’re One of Us,” and a self-titled double album. Seen here are the brothers who founded the band in the late ’70s, Jeff McDonald, left, and Steven McDonald, right. (Photo by Tony Molina Filmworks) Jeff McDonald, left, and Steven McDonald, right, share a look during an interview about their band, Redd Kross, in the new documentary, “Born Innocent: The Redd Kross Story,” which opens in Dec. 2024. (Film still courtesy of ‘Born Innocent’) It’s a ton of terrific material about Redd Kross , a band that deserves every bit of acclaim that the album, book and film might bring. Still, Steven McDonald had one more thing in mind. “The one we didn’t get to do – which, whatever, we’ve done too much as it is – I was hoping there would be an audiobook,” Steven McDonald says on a recent video call with his brother. This launches the McDonalds into enthusiastic riffing about all the possibilities, like brothers who have long known how to take a wild dream and talk it into being. “Omni Books saw that Jack Black , who I’ve known for a long time, liked a post about the book,” Steven says. The publisher asked him to send Black a book, so he called to let the actor and cofounder of the comedic rock band Tenacious D know. “He’s like, ‘I want the audiobook,’” Steven continues. “I said, ‘So do I! But no one would produce it.’ “He said, ‘Well, come and give me the book. Come over and read it to me,’” he continues. “I said, ‘OK, great, I’ll do my part, you can do Jeff’s.’” “Wow,” Jeff says, nodding his approval of this obvious solution. “There you have it.” “That would be a good audiobook too, if we just record that,” Steven says, and then shifts into the serious intonation of a “Masterpiece Theatre” narrator: “The role of Jeff McDonald will be played by Jack Black.” And so it goes, in the interview as in the film and memoir, and even, at times, the album. A brotherly banter that is often entertaining, occasionally endearing, and always true to the dynamic these closest of siblings have shared their entire lives. In an interview edited for length and clarity, Jeff and Steven McDonald talked about everything from making the movie, book and album to forming Redd Kross in the relative isolation of the South Bay in the ’70s, that time when Steven was kidnapped at 13 by an older fan for several months (yes, you read that right), and more. Q: The documentary is so much fun. How did you get connected with director Andrew Reich [an Emmy winner as executive producer of “Friends.”] Steven McDonald: Andrew and I had mutual friends, and he pursued us through mutual friends. He started the film project, like eight years ago, the better part of a decade. Q: Was it a quick yes? Something you wanted to do right away? Jeff McDonald: I know, with a good documentary, it’s the filmmaker telling their version of your story. Which is great. Because I knew if it was us telling our version, entirely us, it would just go on forever. So it was important that we liked and trusted Andrew. And I instantly liked him, instantly just clicked. So it got the OK early on. We had no idea how long the movie would take, He just said, ‘Oh, it’s going to take a couple of years.’ But those couple of years turned into eight years. It was really insane. Q: And the memoir? When did that begin? SM: I thought the book was going to come out in 2025, actually. The book was also a bait and switch. [laughs] The literary agent Lee Sobel reached out to me through Facebook and asked if I was interested in a Steve McDonald book. Of course, I am! [laughs] Then about 10 minutes later he switched it to a Redd Kross book. Q: So Steven, why were you thinking it was going to come out next year? SM: Because that’s the only thing my blood pressure would allow. I had no idea that all three deadlines were all going to hit at the same time. Not only did we do the record, we’ve completed two pretty extensive tours. That has been a lot of heavy lifting. Which is great. I mean, that’s what it’s about for me and Jeff. More than any of it, it’s to go out and play live. But it’s just, in this age of the independent artist, it’s hard. And even though we’re celebrating our 45th year as a band, there’s still so much to learn. JM: It’s non-stop. SM: It never stops being a challenge but, you know, it’s one I’m grateful for. JM: I think if you’re a band that’s still growing you always feel you have something to prove. You never get to that spot where it’s like, ‘Oh, I’ve arrived.’ When that feeling’s gone, that’s when you put it down. SM: But yeah, so it’s great to have this opportunity to show what we can do. That’s kind of what 2024 has been about. Q: Did all the different projects create any crossover moments or influence each other? SM: We did the book before and while were making the record, which I think added another interesting quality. But also just the process of being interviewed by Andrew for eight years. There was a lot of reflection going on. Jeff and I wrote the lion’s share of this in 2023 in the midst of all this. I’m sure it informed some of the more reminiscing moments on the record. Also, I will often reference the Beatles ‘Get Back’ doc that came out, too. That’s the other thing that really inspired our record. Just seeing a unique collaboration. Not to compare us to Lennon and McCartney but to see how much they valued that creative partnership in real time. The demystifying things were fascinating, and it was super freeing and inspiring, and got me hungry to get into that room with Jeff and see what we were capable of. Especially after all that reflection. Q: One thing that struck me in the book and in the movie was the isolation you felt in Hawthorne at the time. You got yourselves to Hollywood and into Black Flag’s circle – but didn’t become a hardcore punk band like them. JM: The four bands [in the area] when we met Black Flag and became part of that whole tiny scene, it was us, a very early version of the Descendents , who were extremely poppy, almost like the original surf punk band. The Last, who were like our version of the Flamin’ Groovies , and Black Flag. So everyone had their own identity, and even we did at our young age. SM: And we played all of our first shows with Black Flag. The first one was an eighth-grade graduation party, and we got Black Flag the gig. We just had all these sort of extraordinary experiences in a very condensed amount of time. And it shaped us in many ways, but it didn’t keep us from being who we were. Or when we did feel any constraint coming down we just kind of distanced ourselves and went our own way. And in reference to what it was like to be in Hawthorne, we detail that on the song ‘Born Innocent,’ which is the closing credit title for the film. [And also the closing track on the new album.] Andrew asked us to write an origin story song. Q: One surprising part of your story is the kidnapping of Steven when he was very young by a woman in her 20s who had started an inappropriate relationship with him before taking him to Las Vegas for three months. SM: I’ve talked about it a little bit, and when you’re asking about doing the movie and how we felt talking about our lives, I don’t know. During lockdown, I found myself revisiting that moment because it turned out to be like the 40th anniversary of that time. And I’m a dad too, and it just so happened that I had, my son was 12 or 13, the same age I was 40 years later. So I found myself just sort of investigating where my head was at that time. For our family, it was traumatizing, and we did our best to process it, but much of it was left unprocessed. As you can see, my parents, it’s still a very raw topic for them, as is detailed in the film with their beautiful interview. I’ve always been fine with talking about it. But whatever, it was a real moment, and it happened within the context of our rock and roll experience. Had I not been in a band it would have never happened. So it’s somewhat of a cautionary tale as well. Q: I want to ask about the mixture of influences you talk about in the film and book. You didn’t censor yourselves over what was cool or popular. You loved the Beatles but you also loved the Partridge Family equally. JM: Through reading about rock and roll music and biographies, I learned, oh, you know, the Beatles did Shirelles covers. They were doing like girl bubblegum covers and were inspired by that type of stuff. It made me realize that anything that moves you is valid and it doesn’t matter what social baggage it may have. It’s like when we were in the punk movement, just saying, ‘I love the Partridge Family’ was kind of like a little bit of a troll to people who took themselves very seriously. SM: I think we also have not been afraid to infuse a nice dose of humor into what we do. I think that’s also something that sometimes people find hard to take on board, because it might imply that you’re not serious on some level, or there’s missing some substance or something. And it’s not just music, you know, it’s movies, it’s television. It’s all sorts of cultural things we took on board. We were hanging out with people that were much older than us and had very sophisticated interests. JM: Yeah, we have been inspired by movies, like Russ Myers and John Waters and all that stuff. And there’s always a bit of humor in what we do. You know, like I may not be taken as seriously as a singer as like, say, Perry Farrell [of Jane’s Addiction], who’s not very funny at all. But comedians are some of the heaviest entertainers there are. So you just can’t judge a book by its cover. Q: This year has been busy. How do you take advantage of that and go forward next year? JM: We haven’t been to South America yet. SM: We have done a lot to get the momentum going. It’s true. I have a day job. I’m also in the Melvins , who have a very busy schedule next year. So it’s a conflict in my life to have had this moment and create so much momentum for us. You don’t want it to dissipate. But at the same time, it’s been a long career. I mean, hopefully there’s enough for people to snack on for a while, and they’ll be hungry for us the next time we’re available, which hopefully will be sometime next year. Related Articles
"We had another outstanding quarter with record revenue and positive Adjusted EBITDA...We are very excited with our VSDHOne release and onboarding clients to increase our growth pace” - Shane Madden, CEO of Hydreight VANCOUVER, British Columbia and LAS VEGAS, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (" Hydreight ” or the "Company ”) ( TSXV: NURS )( OTCQB: HYDTF )( FSE: SO6 ), a fast-growing mobile clinical network and medical platform which enables flexible at-home medical services across 50 states in the United States, is pleased to announce its financial results for the third quarter ended September 30, 2024. All financial information is presented in Canadian dollars unless otherwise indicated. Summary of Q3, 2024 Financial Highlights: The Company believes the following Non-GAAP 1 financial measures provide meaningful insight to aid in the understanding of the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers: The table below sets out a summary of certain financial results of the Company over the past eight quarters and is derived from the audited annual consolidated financial statements and unaudited quarterly consolidated financial statements of the Company. After Taxes Income (Loss) Income (Loss) Per Share The Company has experienced dramatic user growth over the past two years as can be seen by the consistent revenue growth over the past eight quarters. The Company continues to deliver on its mission of building one of the largest mobile clinical networks in the United States. Through its medical network, pharmacy network and proprietary technology platform that adheres to the complex healthcare legislation across 50 states, Hydreight has provided a fully integrated solution for healthcare providers to become independent contractors. Hydreight remains focused on its strategic priorities of (1) Profitability (2) adding more product and service offerings for its customers, (3) introducing Hydreight story with more potential shareholders (4) driving white label partnerships and Nurses to the platform and (5) looking for strategic tuck in M&A opportunities to scale and grow the business quickly and efficiently . Hydreight will continue to invest into its technology to ensure continuous improvements, advancements and updates adhering to changes within the healthcare industry. Please see SEDAR + for the Company's condensed interim consolidated unaudited financial statements and MD&A for the three and six months ended September 30, 2024 and 2023 and for the Company's audited annual consolidated financial statements and MD&A for the year ended December 31, 2023 and 2022. About VSDHOne - Direct to Consumer Platform In a partnership with two other parties, Hydreight Technologies launched the VSDHOne (Read as VSDH-One)platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s (semaglutide, tirzepatide), peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy ("TRT”), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months. About Hydreight Technologies Inc. Hydreight Technologies Inc. is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform hosts a network of over 2500 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network. On behalf of the Board of Directors Shane Madden Director and Chief Executive Officer Hydreight Technologies Inc. Contact Email: [email protected] ; Telephone: (702) 970 8112 This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Use of Non-GAAP Financial Measures: This release contains references to non-GAAP financial measures Adjusted Revenue (also referred to as Topline Revenue), Adjusted Gross Margin, and Adjusted EBITDA. The Company defines Adjusted Revenue as gross cash income before adjustment for the deferred portion of business partner contract revenue and gross receipts from Hydreight App service sales. The Company defines Adjusted Gross Margin as GAAP gross margin plus inventory impairment plus the deferred portion of business partner contract revenue. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization and before (i) transaction, restructuring, and integration costs and share-based payments expense, and (iii) gains/losses that are not reflective of ongoing operating performance. The Company believes that the measures provide information useful to its shareholders and investors in understanding the Company's operating cash flow growth, user growth, and cash generating potential for funding working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. These non-GAAP measures may assist in the evaluation of the Company's business relative to that of its peers more accurately than GAAP financial measures alone. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP and is not necessarily indicative of other metrics presented in accordance with GAAP. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute "forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, path to profitability, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may”, "would”, "could”, "should”, "will”, "intend”, "plan”, "anticipate”, "believe”, "estimate”, "expect” or similar expressions and includes information regarding expectations for the Company's growth and profitability in 2024. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company's shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. 1 See Use of Non-GAAP Financial Measures