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James, Quigley and Hayes combine for 59 points as No. 20 NC State women beat Coastal Carolina 89-68A suspect is on the loose in what police called the "brazen" targeted attack of Brian Thompson, the CEO of major insurance group UnitedHealthcare who was fatally shot outside a Midtown Manhattan hotel ahead of an investor conference on Wednesday. The masked gunman appeared to be lying in wait outside the Hilton hotel in what police said was a "premeditated" attack. The shooter arrived at the scene about five minutes before Thompson before shooting the victim in the chest around 6:40 a.m., police said. MORE: UnitedHealthcare CEO Brian Thompson shot dead in Midtown Manhattan, masked gunman at large Video captured the moment the gunman walked up behind the CEO, pointed his gun at him and fired. A witness fled as Thompson stumbled and fell to the ground. The gunman then walked closer to Thompson, firing more times before fleeing. Evidence recovered includes cellphone, water bottle, candy wrapper The suspect fled on foot into an alley, where a phone was recovered, according to NYPD Chief of Detectives Joseph Kenny. He then fled on an e-bike and he was last seen riding into Central Park at 6:48 a.m., police said. The bikes are equipped with GPS and police are following up, Kenny said. Police released photos of the suspect holding a firearm and on a bike. They also released photos of the suspect in a mask in an undisclosed location. He was described by police as wearing a light brown or cream-colored jacket, a black face mask, black and white sneakers and a "very distinctive" gray backpack. Detectives have retrieved a water bottle and candy wrapper from the area where he was apparently waiting and are currently running tests and analyses to determine if there are any usable fingerprints or DNA, law enforcement sources said. At the same time, NYPD detectives are working with the U.S. Marshals Service to try and track down the shooter and with the FBI, which has the most sophisticated technology for retrieving usable data from cell phones, sources said. The victim's hotel room has already been accessed by investigators, whose top priority is determining Thompson's most recent conversations and movements, sources said. Professional killer appears unlikely The working theory among detectives right now is that the shooting was carried out by someone who is not a professional killer because too many "mistakes" were made, sources said. Hitmen typically don't carry cell phones to their hits and the shots were fired from a distance that would be considered "too far" away from the victim, the sources said. At this point, detectives are trying to determine whether Thompson was targeted because of some type of personal conflict or as a result of his work as an insurance executive, sources said. The killer apparently had some knowledge of Thompson's schedule on Wednesday and the fact that he would be arriving at the Hilton well before the company meeting was to begin, the sources said. Police are interviewing Thompson's colleagues and family about any potential specific threats, Kenny said. MORE: Boy, 7, fatally shoots 2-year-old brother after finding gun in glove box What we know about the victim Thompson, 50, was in New York City for the UnitedHealthcare investors conference, which was scheduled to start at 8 a.m. The conference was being held at the Hilton outside of which he was shot, but he was not staying there, police said. UnitedHealthcare's parent company, UnitedHealth Group, the largest health insurer in the world, said in a statement, "We are deeply saddened and shocked at the passing of our dear friend and colleague Brian Thompson." "Brian was a highly respected colleague and friend to all who worked with him," the company said. "We are working closely with the New York Police Department and ask for your patience and understanding during this difficult time. Our hearts go out to Brian's family and all who were close to him." Police urge the public to call Crime Stoppers with any information. A $10,000 reward is being offered for information leading to the arrest and conviction of the person responsible.Winston's performance in snowy win over Steelers adds new layer to Browns' quarterback conundrum - The Associated Press
We used to be a nation of owners. Not anymore. In 1820, roughly 80 percent of Americans worked for themselves. Farmers, shopkeepers, and craftsmenâ people owned what they built . Today, most of us work for someone else. We may think that's normal, but it's not. Ownership is disappearing. Slowly, quietly, it's being taken while we aren't paying attention. And as it goes, so does our freedom, wealth, and control over our communities. If you walk down any street in America, you'll see this in real time. That corner store? Likely owned by a big corporation. The neighborhood coffee shop? Replaced by a chain. The family auto repair shop? Bought out or shut down. In 2000, private equity firms owned just 4 percent of U.S. companies. Today, they own 20 percent . One in five businesses are run by Wall Street suits who've never worked a day on Main Street. Even local businesses aren't local anymore. One-third are controlled by giant corporations. BlackRock, Vanguard, and State Streetâthe "Big Three" of Wall Street asset managementânow are the largest shareholders for 88 percent of the S&P 500 . These companies own the buildings you live in, the companies you work for, even the stocks in your 401(k). They're not just buying businesses. They're buying power and control. When local businesses close, they take more than jobs with themâthey take the heart of a community. We've all seen it happen. A beloved local diner or shop, where families gathered for years, gets bought by a chain. Prices go up, familiar faces disappear, and that warm, personal touch is replaced with something cold and corporate. What once felt like home is now just another corporate front. This is happening everywhere. When it does, we don't just lose businesses; we lose connection, pride, and control over our towns. Prices rise. Service gets worse. Jobs go away. Money leaves your town and flows to Wall Street. The tax code doesn't help. It rewards ownership, not work. Owners get breaks on cars, meals, and even health insurance. Workers, meanwhile, are taxed higher than billionaires. If you're not an owner, you're falling behind. This didn't happen overnight. After World War II, America started to change. Big companies grew bigger. Chain stores like Walmart and McDonald's replaced local shops. Wall Street created new ways to buy Main Street. By the 1970s, only 1 in 3 Americans worked for themselves. Today, it's less than 10 percent. Take my uncle Ed's plumbing business. For 30 years, he served his community and made a good living. But when he retired, no one could afford to buy it. His kids had corporate jobs. Local plumbers couldn't get loans. So the business closed. This same thing happens to thousands of businesses every month. They don't failâthey're bought out or simply vanish. Other countries are doing better at this. We're losing at the game of capitalism to many of our own allies. Most small businesses now make less than $50,000 a year. They can't compete with the giants. They're barely surviving. This turning point isn't happening in isolationâit's being driven by three major forces that are changing the way we live, work, and own: First is the Great Retirement: Every day, 10,000 Baby Boomers retire . About 800 of them own businesses. Most don't have anyone to take over. Their kids have corporate jobs. Local buyers can't get bank loans. So what happens? Some sell to Wall Street, but most of them simply shut down. By 2030, the nearly 2.3 million small businesses owned by Baby Boomers will close or change hands . That's $10 trillion worth of value. And 25 million jobs are at risk. Second is the Great Resignation: Workers want flexibility but haven't realized owning a business could provide it. Finally, the Great Corporatization: Companies like Amazon now control one-third of local businesses, turning communities into corporate clones. If these trends continue, the American Dream will become a distant memory. But it doesn't have to be this way. Wealth can be built in a number of different ways in this countryâand it doesn't always have to be a startup. Buying a "boring business"âthink laundromats, HVAC companies, or car washesâis an alternative path to wealth through ownership, and you don't need millions to do it. These are recession-proof, cash-flowing businesses and many sellers will finance the sale, letting you pay over time. These businesses are already runningâunlike a startup. Simple updates like online booking or social media can double revenue for an already successful business. Take Brittany. During the coronavirus pandemic, she bought two struggling gyms for pennies on the dollar. She kept the existing members, added online classes, and cut unnecessary costs. In just one year, both gyms were thriving and generating steady profits. Then there's Chris. He started with a single plumbing business. After modernizing its operations, he reinvested the profits to buy a locksmith service. From there, he expanded into a construction company. Now, he runs a small empire of essential businesses, all built on the same formula: buy, improve, and grow. These aren't one-offs. They're proof of what's possible when you take ownership into your own hands. Anyone can start. Look for a business that fits your skills and lifestyle. If you love talking to people, try a service business. If you like working quietly, go for something like a laundromat or storage facility. Check websites like BizBuySell and BizScout, or ask local business owners who may be retiring soon. Do your homework: Look at the business's numbers. Check if it makes steady money. Make sure it has loyal customers. Avoid businesses that depend too much on the owner or one big client. Make a smart deal: You don't need to pay all cash. Many owners will let you pay over time using the business's profits. You can also use loans like SBA financing. Add value, starting with small fixes. Use technology to save time. Add new services or subscriptions to make more money. Focus on what customers love. Finally, build your freedom: Hire a great operator. Teach them to handle the day-to-day work. This gives you time to focus on growing the businessâor enjoying the life you've built. The American Dream was never about working 40 years for someone else. It was about owning something real. Local businesses don't just create jobs. They keep money in the community. They provide better service. They build real wealthânot just for the owner, but for everyone. Every day, more local businesses close. More communities lose their character. More money flows to Wall Street. We're at a crossroads. Will we let corporations own everything? Or will we take back control? It's really up to us. Codie Sanchez is the founder of Contrarian Thinking and the author of " Main Street Millionaire ." She owns dozens of small businesses and helps everyday Americans achieve financial freedom through ownership. The views expressed in this article are the writer's own.
BEIRUT (AP) â Syriaâs de facto leader said Sunday it could take up to four years to hold elections in Syria, and that he plans to dissolve his Islamist group that led the countryâs insurgency at an anticipated national dialogue summit for the country. Ahmad al-Sharaa, who leads Hayat Tahrir al-Sham, the group leading the new authority in Syria, made the remarks in an interview with Saudi television network Al-Arabiyya. It comes almost a month after a lightning insurgency led by HTS overthrew President Bashar Assadâs decades-long rule, ending the countryâs uprising-turned civil war that started back in 2011. Al-Sharaa said it would take time to hold elections because of the need for Syriaâs different forces to hold political dialogue and rewrite the countryâs constitution following five decades of the Assad dynastyâs dictatorial rule. Also, the war-torn countryâs battered infrastructure needs to be reconstructed, he said. âThe chance we have today doesnât come every 5 or 10 years,â said al-Sharaa, formerly known as Abu Mohammed al-Golani. âWe want the constitution to last for the longest time possible.â Al-Sharaa is Syriaâs de facto leader until March 1, when Syriaâs different factions are set to hold a political dialogue to determine the countryâs political future and establish a transitional government that brings the divided country together. There, he said, HTS will dissolve after years of being the countryâs most dominant rebel group that held a strategic enclave in the countryâs northwest. Earlier, an Israeli airstrike in the outskirts of Damascus on Sunday killed 11 people, according to a war monitor, as Israel continues to target Syrian weapons and military infrastructure even after the ouster of Assad. The Britain-based Syrian Observatory for Human Rights said the airstrike targeted a weapons depot that belonged to Assadâs forces near the industrial town of Adra, northeast of the capital. The observatory said at least 11 people, mostly civilians, were killed. The Israeli military did not comment on the airstrike Sunday. Israel, which has launched hundreds of airstrikes over Syria since the countryâs uprising turned-civil war broke out in 2011, rarely acknowledges them. It says its targets are Iran-backed groups that backed Assad. Unlike his criticism of key Assad ally Iran, al-Sharaa hoped to maintain âstrategic relationsâ with Russia, whose air force played a critical role in keeping Assad in power for over a decade during the conflict. Moscow has a strategic airbase in Syria. The HTS leader also said negotiations are ongoing with the Kurdish-led Syrian Democratic Forces in northeastern Syria, and hopes that their armed forces will integrate with the Syrian security agencies. The Kurdish-led group is Washingtonâs key ally in Syria, where it is heavily involved in targeting sleeper cells belonging to the extremist Islamic State group. Turkish-backed Syrian rebels have been clashing with the SDF even after the insurgency, taking the key city of Manbij, as Ankara hopes to create a buffer zone near its border in northern Syria. The rebels attacked near the strategic northern border town of Kobani, while the SDF shared a video of a rocket attack that destroyed what it said was a radar system south of the city of Manbij. In other developments: â Syrian state-run media said a mass grave was found near the third largest city of Homs. SANA said civil defense workers were sent to to the site in al-Kabo, one of many suspected mass graves where tens of thousands of Syrians are believed to have been buried during a brutal crackdown under Assad and his network of security agencies. â An Egyptian activist wanted by Cairo on charges of incitement to violence and terrorism, Abdulrahman al-Qardawi, was detained by Lebanese security forces after crossing the porous border from Syria, according to two judicial and one security officials who spoke on condition of anonymity because they were not authorized to to talk to the press. Al-Qardawi is an Egyptian activist residing in Turkey and an outspoken critic of Egyptâs government. He had reportedly visited Syria to join celebrations after Assadâs downfall. His late father, Youssef al-Qaradawi, was a top and controversial Egyptian cleric revered by the outlawed Muslim Brotherhood. He had lived in exile in Qatar for decades. â Lebanese security forces apprehended an armed group in the northern city of Tripoli that kidnapped a group of 26 Syrians who were recently smuggled into Lebanon, two Lebanese security officials said on condition of anonymity because they were not authorized to share the information with the media. The Syrians included five women and seven children, and security officials are working to return them to Syria. Kareem Chehayeb, The Associated PressMumbai: For the first time, private sector banks as a group met priority sector lending targets, including sub-targets for major heads in 2023-24, particularly in agriculture, according to central bank data. Although all bank groups managed to achieve their stipulated overall targets and sub-targets, private sector banks did better than their public sector peers. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for For the public sector, private and foreign banks, the target is 40% of adjusted net bank credit or credit equivalent of off-balance sheet exposure, whichever is higher. For small finance banks, the target is higher at 75%. One of the reasons for the private sector banks to achieve their priority sector target is that they are now allowed to invest in priority sector lending certificates (PSLCs). These are issued against banks' priority sector loans under various sub-targets and general categories. Banks use PSLCs to guard against shortfalls. The total trading volume of PSLCs climbed 26% in FY24, primarily led by PSLC-General. Among the four PSLC categories, the small and marginal farmers category registered the highest trading volume, partly reflecting specialisation by a few banks in lending to this category of borrowers and the inability of other banks to meet sub-targets through direct lending, the RBI said in its report on Trends and Progress of Banking. 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NEW YORK , Dec. 6, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global metallurgical coal market size is estimated to grow by USD 95.27 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.77% during the forecast period. Increasing demand for steel is driving market growth, with a trend towards increase in number of smart city projects. However, volatility in prices of metallurgical coal poses a challenge. Key market players include Alpha Metallurgical Resources Inc., Anglo American plc, Arch Resources Inc., ARLP, Bharat Coking Coal Ltd., BHP Group plc, China Shenhua Energy Co. Ltd., Coal India Ltd., CONSOL Energy Inc., Coronado Resources Inc., EVRAZ Plc, Glencore Plc, Harman Fuels LLC, Peabody Energy Corp., Prairie State Energy Campus, Shanxi Coking Coal Xishan Coal and Electricity Co Ltd., Teck Resources Ltd., Warrior Met Coal Inc., and Whitehaven Coal Ltd.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Application (Steel making and Non-steel making), Type (Hard coking coals, Semi-soft coking coals, and Pulverized coal injection), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) Region Covered APAC, North America, Europe, Middle East and Africa, and South America Key companies profiled Alpha Metallurgical Resources Inc., Anglo American plc, Arch Resources Inc., ARLP, Bharat Coking Coal Ltd., BHP Group plc, China Shenhua Energy Co. Ltd., Coal India Ltd., CONSOL Energy Inc., Coronado Global Resources Inc., EVRAZ Plc, Glencore Plc, Harman Fuels LLC, Peabody Energy Corp., Prairie State Energy Campus, Shanxi Coking Coal Xishan Coal and Electricity Co Ltd., Teck Resources Ltd., Warrior Met Coal Inc., and Whitehaven Coal Ltd. Key Market Trends Fueling Growth The global smart city market is experiencing significant growth, with an anticipated Compound Annual Growth Rate (CAGR) of over 22% according to Technavio analysis. Smart cities utilize digital technology to optimize resource usage and enhance productivity and well-being. Infrastructure development, including roads, residential areas, and community facilities, is a key focus. Steel is essential for constructing these structures, making it a vital component in the growth of smart cities. As metallurgical coal is a primary input in steel production, the expansion of smart cities is expected to boost metallurgical coal consumption for steelmaking. The European Innovation Partnership on Smart Cities and Communities, backed by the European Commission, is a significant market driver, aiming to create a European smart city market and improve livability. These developments underscore the importance of metallurgical coal in the global infrastructure sector, positioning it for continued growth in the forecast period. Metallurgical coal, a crucial component in steelmaking, is currently in focus due to its petrographic properties and carbonization process. Coal's thermal maturity, carbon content, and fossil carbon structure impact its utilization as an energy source or household fuel. Coal properties, such as coking properties, mesophase, pyrolysis, thermosolvolysis, and fluidity, influence coal macerals and chemical composition, determining coal rank. Coal extraction and blending techniques are essential for industrial processes, including coal-fired boilers and coke formation in blast furnaces. Metallurgical and thermal coal reserves are essential for power generation, but ESG risks, carbon footprint, greenhouse gas emissions, air pollution, and respiratory illnesses are growing concerns. Understanding coal deposits and their reserves is vital for the industry's sustainable growth. Carbon content, anthracite, and coal rank are significant factors in evaluating coal's suitability for various applications. The coal industry must address these challenges through innovative industrial processes and ESG initiatives to meet the evolving market demands. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Metallurgical coal is an essential resource in steel production, as it is used to create coke. The cost of metallurgical coal is influenced by global demand for iron and steel, making it more expensive than thermal coal. Prices for metallurgical coal are volatile due to macroeconomic factors, including global steel demand and trading policies of major consumers like China . For instance, India , the world's second-largest crude steel producer and a significant importer of coking coal, experienced a 49% increase in coking coal prices between May and November 2023 . These fluctuations make the market unreliable, with prices reaching as high as USD365 per ton in October 2023 . Despite predictions of falling prices, the value of Australia's metallurgical coal exports is expected to decrease due to these price fluctuations. The volatility of metallurgical coal prices acts as a barrier to market growth. Metallurgical coal, including bituminous, sub-bituminous, lignite, and coking coal, plays a crucial role in industries like steelmaking and electricity generation. Coking coal's primary use is in steel production, where it transforms into carbon-rich coke during the coking process, essential for iron ore to produce pig iron in the steelmaking process. However, challenges persist. Coal quality factors like caking ability, ash content, volatile matter, sulfur, and phosphorus impact coke production efficiency and steel quality. In electricity generation, non-coking coal is used, but its heating process requires careful consideration due to its lower heating value and higher ash content. Coal classification, based on vitrinite content, helps determine coal's suitability for various uses. Coking coals have high vitrinite content, while non-coking coals have low vitrinity. Metallurgical coke production relies on coal's caking property and plasticity. The steel industry and thermal power plants face a demand-supply gap due to depleting coal reserves and increasing environmental concerns. Coal blending and characterization, including coal washing and coking index determination, are essential to optimize coal usage and improve product quality. Additionally, metallurgical coal is used in producing ferro-chromium, ferro-manganese, carbon electrodes, pesticides, chemical products, carbon fibers, and medicines. The challenges in the metallurgical coal market include ensuring consistent coal quality, managing the supply chain, and addressing environmental concerns. Insights into how AI is reshaping industries and driving growth- Download a Sample Report This metallurgical coal market report extensively covers market segmentation by Application 1.1 Steel making 1.2 Non-steel making Type 2.1 Hard coking coals 2.2 Semi-soft coking coals 2.3 Pulverized coal injection Geography 3.1 APAC 3.2 North America 3.3 Europe 3.4 Middle East and Africa 3.5 South America 1.1 Steel making- Metallurgical coal plays a crucial role in the steelmaking industry, primarily used for coke production in the Blast Furnace-Basic Oxygen Furnace (BF-BOF) and Electric Arc Furnace (EAF) processes. While BF-BOF requires larger volumes of metallurgical coal, EAF uses lower amounts. In 2020, the BF-BOF process was the dominant steel production method, with world crude steel output reaching 145.5 million tons (Mt) in November 2023 , a 3.3% increase from the previous year. This growth is driven by the rising global demand for steel, particularly in emerging economies like China and India , which are among the largest steel producers. Urbanization, infrastructure development, and the construction of new smart city projects further fuel this demand. Additionally, the coking process produces byproducts such as coal tar and benzol, which have stable demand in various industries. New steel plants are being established globally to meet this rising demand, further increasing the need for metallurgical coal. According to the International Energy Agency, global coal demand reached a record 8.3 billion tons in 2022, driven by its availability and affordability compared to other energy sources. These factors collectively contribute to the growth of the metallurgical coal market during the forecast period. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Metallurgical coal, also known as coking coal, is a type of coal with high carbon content and caking ability essential for steelmaking. The world's largest metallurgical coal reserves are found in countries like Australia , China , India , and the United States . Metallurgical coal is primarily used in the production of coke for blast furnaces in the steelmaking process. Coke is produced by heating metallurgical coal in the absence of air to drive off volatile impurities, leaving behind a solid carbon-rich material. Metallurgical coal's high carbon footprint and air pollution make it a significant contributor to greenhouse gas emissions and respiratory illnesses. ESG (Environmental, Social, and Governance) risks associated with metallurgical coal mining and usage are increasingly becoming a concern. Metallurgical coal is used extensively in power generation, but its use is being phased out in favor of cleaner alternatives like natural gas and renewable energy sources. Thermal coal, on the other hand, is used primarily for electricity generation and household heating. The carbon content of thermal coal is lower than that of metallurgical coal, making it less suitable for steelmaking. Coal types include anthracite, bituminous coal, sub-bituminous coal, and lignite. Iron ore, pig iron, and various alloys like ferro-chromium and ferro-manganese are produced using metallurgical coal in the steelmaking process. Metallurgical coal, also known as met coal, is a type of coal with high coking properties used primarily in steelmaking. It contains a higher carbon content than thermal coal, which is used for power generation and household heating. The world's largest coal reserves include metallurgical coal deposits in countries like China , Australia , India , and the United States . Metallurgical coal's primary use is in the steel industry, where it is transformed into coke in blast furnaces. Coke is essential for iron ore reduction in the steelmaking process, producing pig iron, which is then converted into steel. Metallurgical coal's carbon content, caking ability, and other properties are crucial for the successful production of coke. ESG risks, including carbon footprint and air pollution, are significant concerns for the metallurgical coal market. Greenhouse gas emissions from coal combustion contribute to climate change, while air pollution from coal mining and processing can lead to respiratory illnesses. The metallurgical coal market is also influenced by factors like coal quality, coal classification, and coal utilization. Coal quality is determined by properties like carbon content, ash content, volatile matter, sulfur, and phosphorus. Coal classification systems like the ASTM and the International Coal and Coke Classification System help standardize the assessment of coal quality. Coal utilization includes various applications, such as electricity generation, household heating, anaerobic heating, and the production of carbon fibers, medicines, and chemical products. The steel industry and thermal power plants are significant consumers of metallurgical coal. The metallurgical coal market is influenced by various processes like carbonization, thermal maturity, and coal characterization. Carbonization is the process of heating coal in the absence of air to produce coke and coal tar. Thermal maturity refers to the degree of coal's transformation from a plant to a solid fuel due to heat and pressure. Coal characterization involves analyzing the coal's chemical composition, coal macerals, and coal rank to determine its suitability for specific applications. Coal extraction techniques include coal washing, which separates coal from impurities like rock, clay, and other minerals. Coal blending techniques involve mixing different types of coal to improve the overall quality and reduce impurities. The metallurgical coal market's demand-supply gap can impact prices and availability. Factors like coal reserves, coal production, and coal washing capacity can influence the supply side, while demand from the steel industry and thermal power plants can impact the demand side. The metallurgical coal market's future outlook is influenced by various factors, including technological advancements, environmental regulations, and geopolitical risks. Technological advancements like the Corex process, which uses natural gas instead of coal to produce direct-reduced iron (DRI), could reduce the demand for metallurgical coal in the steel industry. Environmental regulations aimed at reducing greenhouse gas emissions and air pollution could increase the cost of producing and using metallurgical coal. Geopolitical risks, such as supply disruptions from major coal-producing countries, could impact the availability and price of metallurgical coal. The metallurgical coal market's future also depends on the development and adoption of alternative energy sources and technologies. Renewable energy sources like wind, solar, and hydroelectric power are becoming increasingly cost-competitive with coal-fired power generation. Carbon capture, utilization, and storage (CCUS) technologies could help reduce the carbon footprint of the steel industry and thermal power plants. In conclusion, the metallurgical coal market is a complex and dynamic system influenced by various factors, including coal reserves, coal quality, steel industry demand, environmental regulations, and technological advancements. Understanding these factors is essential for stakeholders in the metallurgical coal market to make informed decisions and navigate the challenges and opportunities of this industry. 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Application Steel Making Non-steel Making Type Hard Coking Coals Semi-soft Coking Coals Pulverized Coal Injection Geography APAC North America Europe Middle East And Africa South America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/metallurgical-coal-market-to-grow-by-usd-95-27-billion-2024-2028-driven-by-rising-steel-demand-with-ai-driving-market-transformation---technavio-302324352.html SOURCE Technavio Š 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Dec 4, 2024-- SentinelOne, Inc. (NYSE: S) today announced financial results for the third quarter of fiscal year 2025 ended October 31, 2024. âOur Q3 results demonstrate strong execution and business momentum. We exceeded our topline growth expectations and re-accelerated new business growth,â said Tomer Weingarten, CEO of SentinelOne. âEnterprises are increasingly selecting Singularity Platform for real-time, autonomous security. With our industry-leading innovations and broadening platform capabilities, Singularity is setting the standard for the future of AI-powered cybersecurity.â âOur Q3 performance reflects strong execution as we continue to deliver top-tier revenue growth, best-in-class gross margins, and operating leverage,â said Barbara Larson, CFO of SentinelOne. âFor the first time, we delivered positive free cash flow on a trailing-twelve-month basis, a key milestone in our journey toward sustained profitability. Based on strong execution and business momentum, weâre raising our revenue growth outlook to 32% for the fiscal year â25.â Letter to Shareholders We have published a letter to shareholders on the Investor Relations section of our website at investors.sentinelone.com . The letter provides further discussion of our results for the third quarter of fiscal year 2025 as well as the financial outlook for our fiscal fourth quarter and full fiscal year 2025. Third Quarter Fiscal Year 2025 Highlights (All metrics are compared to the third quarter of fiscal year 2024 unless otherwise noted) Financial Outlook We are providing the following guidance for the fourth quarter of fiscal year 2025, and for fiscal year 2025 (ending January 31, 2025). These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to the below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. Guidance for non-GAAP financial measures excludes stock-based compensation expense, employer payroll tax on employee stock transactions, amortization expense of acquired intangible assets, acquisition-related compensation costs, restructuring charges, and gains and losses on strategic investments. We have not provided the most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. Accordingly, a reconciliation of non-GAAP gross margin and non-GAAP operating margin is not available without unreasonable effort. Webcast Information We will host a live audio webcast for analysts and investors to discuss our earnings results for the third quarter of fiscal year 2025 and outlook for fourth quarter of fiscal year 2025 and full fiscal year 2025 today, December 4, 2024, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The live webcast and a recording of the event will be available on the Investor Relations section of our website at investors.sentinelone.com . We have used, and intend to continue to use, the Investor Relations section of our website at investors.sentinelone.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve risks and uncertainties, including but not limited to statements regarding our future growth, execution, competitive position, and future financial and operating performance, including our financial outlook for the fourth quarter of fiscal year 2025 and our full fiscal year 2025, including non-GAAP gross margin and non-GAAP operating margin; progress towards our long-term profitability targets; and general market trends. The words âbelieve,â âmay,â âwill,â âpotentially,â âestimate,â âcontinue,â âanticipate,â âintend,â âcould,â âwould,â âproject,â âtarget,â âplan,â âexpect,â or the negative of these terms and similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain these identifying words. There are a significant number of factors that could cause our actual results to differ materially from statements made in this press release, including but not limited to: our limited operating history; our history of losses; intense competition in the market we compete in; fluctuations in our operating results; actual or perceived network or security incidents against us; our ability to successfully integrate any acquisitions and strategic investments; actual or perceived defects, errors or vulnerabilities in our platform; risks associated with managing our rapid growth; general global market, political, economic, and business conditions, including those related to declining global macroeconomic conditions, the change in the U.S. presidential administration, actual or perceived instability in the banking sector, supply chain disruptions, a potential recession, inflation, interest rate volatility, and geopolitical uncertainty, including the effects of the conflicts in the Middle East and Ukraine and tensions between China and Taiwan; our ability to attract new and retain existing customers, or renew and expand our relationships with them; the ability of our platform to effectively interoperate within our customers' IT infrastructure; disruptions or other business interruptions that affect the availability of our platform including cybersecurity incidents; the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products, subscriptions and support offerings; rapidly evolving technological developments in the market for security products and subscription and support offerings; length of sales cycles; and risks of securities class action litigation. Additional risks and uncertainties that could affect our financial results are included under the captions âRisk Factorsâ and âManagementâs Discussion and Analysis of Financial Condition and Results of Operationsâ set forth in our filings and reports with the Securities and Exchange Commission (SEC), including our most recently filed Annual Report on Form 10-K, dated March 27, 2024, subsequent Quarterly Reports on Form 10-Q and other filings and reports that we may file from time to time with the SEC, copies of which are available on our website at investors.sentinelone.com and on the SECâs website at www.sec.gov . You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information and estimates available to us as of the date hereof, and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. We do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date of this press release or to reflect new information or the occurrence of unexpected events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Non-GAAP Financial Measures In addition to our results being determined in accordance with GAAP, we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the following non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, with the financial information presented in accordance with GAAP, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. In addition, the utility of free cash flow as a measure of our liquidity is limited as it does not represent the total increase or decrease in our cash balance for a given period. Reconciliations between non-GAAP financial measures to the most directly comparable financial measure stated in accordance with GAAP are contained below. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business. As presented in the âReconciliation of GAAP to Non-GAAP Financial Informationâ table below, each of the non-GAAP financial measures excludes one or more of the following items: Stock-based compensation expense Stock-based compensation expense is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond our control. As a result, management excludes this item from our internal operating forecasts and models. Management believes that non-GAAP measures adjusted for stock-based compensation expense provide investors with a basis to measure our core performance against the performance of other companies without the variability created by stock-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used. Employer payroll tax on employee stock transactions Employer payroll tax expenses related to employee stock transactions are tied to the vesting or exercise of underlying equity awards and the price of our common stock at the time of vesting, which varies in amount from period to period and is dependent on market forces that are often beyond our control. As a result, management excludes this item from our internal operating forecasts and models. Management believes that non-GAAP measures adjusted for employer payroll taxes on employee stock transactions provide investors with a basis to measure our core performance against the performance of other companies without the variability created by employer payroll taxes on employee stock transactions as a result of the stock price at the time of employee exercise. Amortization of acquired intangible assets Amortization of acquired intangible asset expense is tied to the intangible assets that were acquired in conjunction with acquisitions, which results in non-cash expenses that may not otherwise have been incurred. Management believes excluding the expense associated with intangible assets from non-GAAP measures allows for a more accurate assessment of our ongoing operations and provides investors with a better comparison of period-over-period operating results. Acquisition-related compensation costs Acquisition-related compensation costs include cash-based compensation expenses resulting from the employment retention of certain employees established in accordance with the terms of each acquisition. Acquisition-related cash-based compensation costs have been excluded as they were specifically negotiated as part of the acquisitions in order to retain such employees and relate to cash compensation that was made either in lieu of stock-based compensation or where the grant of stock-based compensation awards was not practicable. In most cases, these acquisition-related compensation costs are not factored into managementâs evaluation of potential acquisitions or our performance after completion of acquisitions, because they are not related to our core operating performance. In addition, the frequency and amount of such charges can vary significantly based on the size and timing of acquisitions and the maturities of the businesses being acquired. Excluding acquisition-related compensation costs from non-GAAP measures provides investors with a basis to compare our results against those of other companies without the variability caused by purchase accounting. Restructuring charges Restructuring charges primarily relate to severance payments, employee benefits, stock-based compensation, and inventory write-offs. These restructuring charges are excluded from non-GAAP financial measures because they are the result of discrete events that are not considered core-operating activities. We believe that it is appropriate to exclude restructuring charges from non-GAAP financial measures because it enables the comparison of period-over-period operating results from continuing operations. Gains and losses on strategic investments Gains and losses on strategic investments relate to the subsequent changes in the recorded value of our strategic investments. These gains and losses are excluded from non-GAAP financial measures because they are the result of discrete events that are not considered core-operating activities. We believe that it is appropriate to exclude gains and losses from strategic investments from non-GAAP financial measures because it enables the comparison of period-over-period net income (loss). Dilutive shares applying the treasury stock method During periods in which we incur a net loss under a GAAP basis, we exclude certain potential common stock equivalents from our GAAP diluted shares because their effect would have been anti-dilutive. In periods where we have net income on a non-GAAP basis, these common stock equivalents would have been dilutive. Accordingly, we have included the impact of these common stock equivalents in the calculation of our non-GAAP diluted net income per share applying the treasury stock method. Non-GAAP Cost of Revenue, Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP Loss from Operations, Non-GAAP Operating Margin, Non-GAAP Net Loss and Non-GAAP Net Loss Per Share We define these non-GAAP financial measures as their respective GAAP measures, excluding the expenses referenced above. We use these non-GAAP financial measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. Free Cash Flow We define free cash flow as cash (used in) provided by operating activities less purchases of property and equipment and capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors, and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives. Key Business Metrics We monitor the following key metrics to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. Annualized Recurring Revenue (ARR) We believe that ARR is a key operating metric to measure our business because it is driven by our ability to acquire new subscription and consumption and usage-based customers, and to maintain and expand our relationship with existing customers. ARR represents the annualized revenue run rate of our subscription and consumption and usage-based agreements at the end of a reporting period, assuming contracts are renewed on their existing terms for customers that are under contracts with us. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates, usage, renewal rates, and other contractual terms. Customers with ARR of $100,000 or More We believe that our ability to increase the number of customers with ARR of $100,000 or more is an indicator of our market penetration and strategic demand for our platform. We define a customer as an entity that has an active subscription for access to our platform. We count Managed Service Providers, Managed Security Service Providers, Managed Detection & Response firms, and Original Equipment Manufacturers, who may purchase our products on behalf of multiple companies, as a single customer. We do not count our reseller or distributor channel partners as customers. Source: SentinelOne NYSE: S Category: Investors View source version on businesswire.com : https://www.businesswire.com/news/home/20241204135788/en/ CONTACT: Investor Relations: Doug Clark investors@sentinelone.comPress : Karen Master karen.master@sentinelone.com +1 (440) 862-0676 KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY ARTIFICIAL INTELLIGENCE SECURITY SOURCE: SentinelOne Copyright Business Wire 2024. PUB: 12/04/2024 04:10 PM/DISC: 12/04/2024 04:17 PM http://www.businesswire.com/news/home/20241204135788/en
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