Discount Tire Expands Into Youth Sports Nationwide With New ECNL Soccer Partnership SCOTTSDALE, Ariz. , Dec. 13, 2024 /PRNewswire/ -- Leading retailer of tires and wheels, Discount Tire , began a multiyear partnership for 2024-2026 with the Elite Clubs National League, or ECNL, the nation's top youth soccer program offering multiple developmental platforms for elite athletes. Discount Tire is now the Official Tire Retailer for the ECNL through the 2026 season, expanding its partnership roster to allow for a greater focus on the next generations of tire consumers. The partnership between Discount Tire and the ECNL officially kicked off in November at the ECNL Girls Phoenix Showcase in Arizona . During this three-day event, 178 teams from across the country in the U16-U18/19 age groups competed in front of hundreds of college and professional scouts for their chance to show their skills and talent. "Discount Tire strives to make the tire buying process easy, inviting, and safe for all drivers — no matter their age," shared Tom Williams , chief experience officer at Discount Tire. "By investing in our youth, Discount Tire can expand the knowledge of tire safety starting at an earlier age than we have before." Support for the ECNL expands Discount Tire's commitment to significant sponsor investments in soccer, including the multiyear deal as the Official Tire Retailer of Major League Soccer and teamwide partnerships with Chicago Fire, FC Cincinnati, Inter Miami, Nashville SC, Portland Timbers, and Seattle Sounders. "Since the founding of the girls league in 2009, the ECNL has grown into an incredible youth soccer platform for male and female youth players at the domestic and international levels," said Christian Lavers , ECNL President. "Today, the ECNL includes more than 400 clubs and 120,000 players nationwide, providing incredible competition, development and opportunities for all its athletes." Discount Tire's branding will be featured at more than 40 prominent ECNL Showcase and National Championship events annually. Discount Tire will be highlighted with field signage at each event, including at the Continental Tire ECNL National Selection Game series, receive exposure on the ECNL podcast " Breaking the Line , " and appear in ECNL newsletters and joint social media campaigns. The deal also includes title sponsorship of the ECNL Conference Cup and League Cups competitions, and branding on game jerseys. For more information on Discount Tire's investment in soccer, visit DiscountTire.com/MLS . About Discount Tire Discount Tire is a leading independent retailer of tires, wheels, and windshield wipers. Founded in 1960 by Bruce T. Halle , the company serves customers at more than 1,200 stores in 39 states. The company does business as Discount Tire in most of the U.S. and as America's Tire in parts of California and Pennsylvania . Treadwell, Discount Tire's proprietary online tire-buying guide, uses decades of data and individual driving habits to recommend the right tires for each driver's unique needs. For more information, visit www.discounttire.com . About the ECNL The ECNL is the nation's leading youth soccer development platform. The ECNL respects and celebrates the unique individuality of every youth soccer player and club, supporting and enabling them to unleash their unfettered passion and fierce tenacity in striving to achieve their potential. The ECNL mission to Raise the Game is a total commitment to create the best possible environment for players, coaches, referees and administrators, with a determination to constantly question convention and challenge the status quo in youth sports. The ECNL Commitment: We will lead, set our eyes on new horizons, and pursue them relentlessly. Born out of the belief in a better way. Continued in the ever-evolving pursuit of excellence. MEDIA CONTACT: Rachel Baker pressemails@discounttire.com View original content to download multimedia: https://www.prnewswire.com/news-releases/a-new-multiyear-partnership-between-discount-tire-and-elite-clubs-national-league-302331670.html SOURCE Discount Tire © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.NHL insider Elliotte Friedman suggests that the Chicago Blackhawks are interested in Philadelphia Flyers forward Morgan Frost . Frost, 25, was once thought to be a key player for the Flyers after being drafted in 2017. However, he has struggled to turn into that top-six forward that they had hoped he would be. During his time with the Flyers, he showed flashes of skill. Unfortunately not enough to be a consistent top-six forward at the NHL level. Friedman reports that the Blackhawks are looking to add young talent around their star forward Connor Bedard . He writes: Player-team that seem a match: Morgan Frost and Chicago. Frost didn’t play Wednesday against Carolina, the fourth game of the last five he’s watched from the press box. He’s not a complainer, prefers to keep any displeasure behind closed doors, but players want to play. Obviously, any dance needs partners who deal, but the Blackhawks, in dire need of centres, are one team that makes sense for him. With their surplus of cap space and draft picks, it gives them the flexibility to make a move for a player like Frost. Would This Be a Smart Move for the Flyers? On the Flyers’ side, trading Frost would allow another young player to have an everyday spot in the NHL. Philadelphia has made a lot of changes in recent years. GM Daniel Briere may be looking to retool and move players who haven’t yet reached their full potential. Frost’s uncertain role with the Flyers makes him more expendable in the eyes of the front office. At this point, it is all speculation. However, the link between Frost and the Blackhawks makes sense for both teams. Frost may not be the biggest name on the block, but it is definitely one that NHL fans should keep an eye on from now until the 2025 NHL Trade Deadline. This article first appeared on NHL Trade Talk and was syndicated with permission.China ‘spy’ linked to Prince Andrew rubbed shoulders with former PMs David Cameron and Theresa May
The Foolproof Formula For Making Soup With Whatever's in Your FridgeChina ‘spy’ linked to Prince Andrew rubbed shoulders with former PMs David Cameron and Theresa MayNEW YORK (AP) — President-elect Donald Trump wants to turn the lights out on daylight saving time. In a post on his social media site Friday, Trump said his party would try to end the practice when he returns to office. “The Republican Party will use its best efforts to eliminate Daylight Saving Time, which has a small but strong constituency, but shouldn’t! Daylight Saving Time is inconvenient, and very costly to our Nation,” he wrote. Setting clocks forward one hour in the spring and back an hour in the fall is intended to maximize daylight during summer months, but has long been subject to scrutiny. Daylight saving time was first adopted as a wartime measure in 1942. Lawmakers have occasionally proposed getting rid of the time change altogether. The most prominent recent attempt, a now-stalled bipartisan bill named the Sunshine Protection Act , had proposed making daylight saving time permanent. The measure was sponsored by Florida Sen. Marco Rubio , whom Trump has tapped to helm the State Department. “Changing the clock twice a year is outdated and unnecessary,” Republican Sen. Rick Scott of Florida said as the Senate voted in favor of the measure. Health experts have said that lawmakers have it backward and that standard time should be made permanent. Some health groups , including the American Medical Association and American Academy of Sleep Medicine, have said that it’s time to do away with time switches and that sticking with standard time aligns better with the sun — and human biology. Most countries do not observe daylight saving time. For those that do, the date that clocks are changed varies, creating a complicated tapestry of changing time differences. Arizona and Hawaii don't change their clocks at all. Jill Colvin, The Associated Press
HUNTINGTON, W.Va. (AP) — Mikal Dawson scored 27 points as Marshall beat Ohio 79-70 on Saturday night. Dawson also added four steals for the Thundering Herd (6-5). Obinna Anochili-Killen scored 12 points and added 10 rebounds and three blocks. Jalen Speer had 12 points. The Bobcats (4-6) were led in scoring by AJ Brown, who finished with 22 points. AJ Clayton added 16 points. Jackson Paveletzke totaled 10 points and 12 assists. Marshall took the lead with 3:36 left in the first half and did not relinquish it. Speer led his team in scoring with 12 points in the first half to help put them ahead 41-33 at the break. ___ The Associated Press created this story using technology provided by and data from . The Associated Press
More than $1-billion spent cleaning up inactive wells in Alberta led to only 5 per cent reduction, report findsATLANTIC CITY, N.J. (AP) — New Jersey gambling regulators have handed out $40,000 in fines to two sportsbooks and a tech company for violations that included taking bets on unauthorized events, and on games that had already ended. In information made public Monday, the New Jersey Division of Gaming Enforcement fined DraftKings $20,000. It also levied $10,000 fines on Rush Street Interactive NJ and the sports betting technology company Kambi. According to documents released by the state, Rush Street accepted 16 bets worth $1,523 in Nov. 2021 on a college basketball game between the University of North Carolina-Asheville and Tennessee Tech University after the game had already concluded with a UNC victory. Kambi told the enforcement division that a trader had failed to manually remove that game from its betting markets, saying it had stopped receiving messages from its own sports data provider due to a network connectivity error. Kambi said it has updated its guidelines and retrained its traders to prevent a recurrence. Kambi, which is based in Malta, did not immediately respond to a message seeking comment Monday. Rush Street declined comment, and DraftKings had no immediate comment Monday. DraftKings stopped using Kambi in 2021. In March 2022 Rush Street took seven bets totaling just under $2,900 on three Magic City Jai Alai games after the results were already known. Kambi told the division it experienced a connectivity issue that allowed the bets to be accepted after the games were over. An explanation of what Kambi did to address the situation was blacked out in documents released by the division. A month earlier Rush Street took 13 wagers worth $8,150 with pre-match odds on a Professional Golf Association match after the event had already begun. In this case, Kambi told the division a newly hired trader failed to enter the correct closing time time for bets on the event. The trader and a supervisor underwent retraining. DraftKings was fined for taking bets on unapproved events including Russian basketball for nine months in 2020 and 2021. It eventually voided over $61,000 in bets and returned the money to customers after being directed to do so by the state. In this case, Kambi told the division it misidentified this particular Russian basketball league as one that was approved for wagering in New Jersey. DraftKings told the state it did not catch the error, either. In 2020, DraftKings accepted 484 wagers on unapproved table tennis matches. Kambi incorrectly enabled the events for wagering without conditions required by the state, the division said. In Feb. 2022, the division said DraftKings took pre-season NFL bets involving specific players but did not give the state specific information on what information was to be included in the bets, drawing 182 wagers worth nearly $7,000 that were later voided and refunded to customers. Follow Wayne Parry on X at www.twitter.com/WayneParryACNAIROBI, Kenya -- Three African politicians seeking to head the African Union detailed their plans on Friday for regional security amid conflicts and political coups while strongly advocating for inter-Africa trade among other issues. Raila Odinga of Kenya, Mahamoud Ali Youssouf of Djibouti and Richard Randriamandrato of Madagascar are seeking to be elected as chairperson for the 55-member state African Union. They participated in a two-hour debate Friday in Ethiopian capital Addis Ababa in which they all advocated for two permanent seats for African countries in the U.N. Security Council to effectively represent the continent with the youngest population. Odinga said that two permanent seats with veto power were “a must for Africa” and that this was “only fair” since the continent has more than 50 countries. Randriamandrato urged member states to cease the opportunity and “speak with one voice on the choice of who will represent Africa in the UNSC.” The three are seeking to convince most African countries before the February election to succeed African Union Chairperson Moussa Faki, who has served for two terms. The African Union has faced several challenges that include conflict in member countries and political coups that have seen five member states expelled from the union, making regional security a major theme in Friday’s debate. Youssouf said that regional security could be enhanced if the resources for a regional standby force were increased to reduce the overreliance on foreign partnerships for resources. “When there is no unity of purpose among neighboring countries peace will be compromised,” Youseff said. Randriamandrato encouraged countries to take charge of their internal security while cautioning that foreign military bases should be “a thing of the past” because they “could be a source of conflict.” Despite the continent’s young population of 1.3 billion that is set to double by 2050, regional trade has faced challenges that were addressed in the Friday debate. Odinga said that Africa had a “huge domestic market” that it could leverage on for economic transformation by opening up opportunities for trade between African countries. Youssouf proposed a payment compensation system that would ensure countries don't lose out while trading in different currencies adding, “are we going to have a single currency, why not?” Randriamandrato said that regional economic blocs like the Common Market for Eastern and Southern Africa had a huge role to play in easing inter-Africa trade. The African Union has several proposed reforms on its structure and leadership aimed at achieving its purpose, and all candidates promised to implement the reforms if elected. Youssouf said that key reforms in the union were facing a funding bottleneck and that “it has to change,” adding that he wouldn't impose it on member states but would “advocate for it.”
Trump wants to turn the clock on daylight saving time, /PRNewswire/ -- (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced a new version of its Optical Gas Imaging ("OGI") camera platform to detect fugitive ammonia and sulfur hexafluoride (SF6) emissions for industrial and manufacturing applications. LightPath's recently launched OGI Camera platform is a specialized technology utilizing infrared (IR) cameras to detect and visualize emissions, in this case the detection of ammonia and SF6. OGI cameras are capable of visualizing gases that are invisible to the naked eye by detecting the infrared energy absorbed or emitted by the gases. LightPath's purpose-built OGI camera leverages a proprietary non-germanium BlackDiamondTM BD6 lens to improve upon current technologies by offering a cost-effective, higher sensitivity and ultimately more effective solution that concurrently insulates LightPath customers from the geopolitical supply chain issues plaguing competing Germanium based solutions – such as recent ban on the export of Germanium to . SF6 is a colorless, odorless, non-flammable, and non-toxic gas, but with a 23,500 times greater global warming potential than CO2. SF6 is used in the electrical industry as a gaseous dielectric medium for electrical equipment and power systems, as well as in medical, semiconductor and other industrial industries. Ammonia is used in food and beverage manufacturing, metal and plastics fabrication, and the energy and chemical industries. "Building on our oil and gas application OGI Camera, our newest variant expands our market potential into additional industrial and manufacturing applications," said , President and Chief Executive Officer of LightPath. "This version will help detect SF6, the most potent greenhouse gas known to-date, and ammonia, which is also harmful when released into the environment. Managing gas emissions is critical for operations and are controlled by a variety of federal, state and local regulations – making OGI cameras an essential compliance tool. To meet these requirements, a wide spectrum of industries are seeking solutions that are cost effective, highly sensitive, and don't require the use of a proprietary software. "With China's recently announced ban on the export of Germanium to , it's more important than ever for U.S. companies to evaluate non-Germanium solutions for optics and imaging systems of all kinds. In this case, our OGI purpose-built camera with a non-germanium lens improves on current emissions detection technology, satisfies regulatory requirements for our clients, and provides an economical tool for multiple applications while ensuring supply chain security," concluded Rubin. LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading provider of next-generation optics and imaging systems for both defense and commercial applications. As a vertically integrated solutions provider with in-house engineering design support, LightPath's family of custom solutions range from proprietary BlackDiamondTM chalcogenide-based glass materials – sold under exclusive license from the U.S. Naval Research Laboratory – to complete infrared optical systems and thermal imaging assemblies. The Company's primary manufacturing footprint is located in with additional facilities in , and . To learn more, please visit . This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the impact of varying demand for the Company products; the ability of the Company to obtain needed raw materials and components from its suppliers; actions governments, businesses, and individuals take in response to the pandemic, including restrictions on onsite commercial interactions; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; geopolitical tensions, the Russian-Ukraine conflict, and the Hamas/ war; the effects of steps that the Company could take to reduce operating costs; the inability of the Company to sustain profitable sales growth, convert inventory to cash, or reduce its costs to maintain competitive prices for its products; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on 10-Q. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. View original content to download multimedia: SOURCE LightPath Technologies
A CT athletic trainer was dismissed and the athletes in her care are trying to get her backHis weekslong journey would take him from Tehran, through rural Iranian villages, on foot across a mountainous borderland and ultimately to Hamburg, Germany. As arduous and dangerous as the trip was, Rasoulof’s travels had an added wrinkle: He was trying to finish a movie at the same time. A week after arriving in Germany, Rasoulof would premiere his film, “The Seed of the Sacred Fig” at the Cannes Film Festival in France. As he fled, Rasoulof was preoccupied with the movie’s edit, which was being carried out in Germany. “I remember when I was sitting in the car that was driving me to the border,” Rasoulof says. “I had my laptop and I was taking notes and sending them to my editor. The two friends who were taking me kept saying, ‘Put that thing away for a second.’” In Cannes, “The Seed of the Sacred Fig” won a special jury prize and Rasoulof was celebrated with a 13-minute standing ovation. The movie has since been hailed as one of the best of the year, and arguably its most daring. Rasoulof made “Sacred Fig” clandestinely in Iran, directing scenes from a separate location to avoid raising suspicions. (The opening titles read: “When there is no way, a way must be made.”) Its story — a devastating family drama set during the 2022 protests that engulfed Iran — would surely only add to Rasoulof’s prison sentence. So after all of this, how is he feeling? When he recently met with The Associated Press for an interview, Rasoulof shrugged. “Ordinary,” he says. Rasoulof, 52, has a more gentle, bemused presence than some of his films would suggest. But how could Rasoulof, after what he’s lived through this year, feel anything like ordinary? “I still haven’t grasped the meaning of exile,” he explains. “I think it will take some time. The feeling of that void has not hit me yet, and I think it may never come.” Rasoulof has been busy traveling from film festival to film festival. In September, he and his 24-year-old daughter attended the Telluride festival in Colorado. Many more such stops were to come. Since fleeing Iran, Rasoulof has effectively been immersed in the world he’s long known: cinema. “Maybe I am living in the world of cinema, and maybe that’s why things are so familiar,” he agrees. “Maybe that’s why I don’t feel I’m in exile.” “The Seed of the Sacred Fig,” currently playing in theaters, is the Oscar submission from Rasoulof’s adoptive home, Germany. He’s settled in with his family, grateful for how the country has welcomed him. Speaking through an interpreter, Rasoulof grants that he’ll probably always mentally have a bag packed, ready to return to Iran should the chance ever come. But what “home” constitutes has changed for him. “I might be able to change this concept of home for myself,” he says. “I walk on the streets here and I see people of different colors and forms from all over the place, and they all call this place home. So there’s always the chance that one can build something new.” How oppressive politics can infiltrate the home is central to “The Seed of the Sacred Fig.” It concerns a family of four: Iman (Missagh Zareh), a lawyer newly appointed to the Revolutionary Court in Tehran; his wife, Najmeh (Soheila Golestani) and their two daughters, Rezvan (Mahsa Rostami) and Sana (Setareh Maleki). Iman is proud of his high position, but, when the government crackdown on protesters following the death of Mahsa Amini accelerates, his daughters are increasingly at odds with him. After Iman's gun goes missing, his wife and daughters turn into suspects. “The Seed of the Sacred Fig,” populated with real cellphone videos from the protests, plays out as an excruciating microcosm of Iranian society. “It wasn’t like I put those videos in. They just came in,” says Rasoulof. “The reality is that it was through those videos I realized what happened. When the Woman, Life, Freedom movement occurred, I was in prison.” Rasoulof has spent several spells in Tehran’s Evin Prison. In 2010, he was arrested on set for filming without a permit. In 2022, he was jailed for seven months after pursuing the release of another of Iran’s most prominent filmmakers, Jafar Panahi. Panahi, who secretly made the film “No Bears,” was only released in 2023 after commencing a hunger strike. “My windows at home opened to the hills that have the Evin prison in them,” says Rasoulof. “I knew behind those walls many of my friends were sitting.” Rasoulof, inspired by the courage of the younger generation, resolved to pour the same spirit into “The Seed of the Sacred Fig.” Although it wasn’t until Rasoulof’s appeal of his sentence failed that he resolved to flee, he grants that deciding to make “Sacred Fig” essentially sealed his fate. “Making this film was part of that decision,” he says. “Although I had made up my mind earlier, because it was such a bitter decision, I was denying it and delaying it, waiting for a miracle to allow me to stay.” “I would open the fridge to make sure there was nothing there that would go bad,” he adds. “It was a strange circumstance.” For the film's actors and crew members, signing up for the movie meant also becoming co-conspirators. Everyone knew the risks. And, like Rasoulof, many of them have since left Iran. Rostami and Maleki also now live in Germany. Asked if his collaborators are all currently safe, Rasoulof responds: “No one is safe from the Islamic Republic.” In his new life, Rasoulof is experiencing freedoms he never had in Iran. His films, for example, are widely available outside his native country but not in Iran. His prize-winning 2020 drama “There Is No Evil,” about capital punishment in Iran, is banned — though, ironically, Rasoulof’s prison guards enjoyed watching it with him from a flash drive. “I haven’t seen many of my films on a big screen, especially my last film,” he says. “I really want to see ‘There Is No Evil’ on a big screen. A festival in Portugal has promised to take me to see my own film.” The name of Rasoulof’s film comes from his memory of an ancient fig tree he once visited on an island in the south of Iran. It’s a tree that, with apparent metaphorical meaning for the Iranian government, spreads its seeds onto other trees, killing them and growing in their place. Rasoulof pulls out his phone to share a photo of his apartment in Tehran. Outside a large window, you can see the walls of Evin running along a craggy hillside. Inside are many houseplants. “This is my home,” he says. “I have a lot of plants. I really miss my plants. I have a neighbor who takes care of them for me. I actually have a fig tree at home.”Giants topple Colts 45-33 to eliminate Indy from the playoff raceDaily Post Nigeria Ogun to establish environmental task force to promote market hygiene Home News Politics Metro Entertainment Sport News Ogun to establish environmental task force to promote market hygiene Published on December 23, 2024 By Gift Oba In a bid to ensure market hygiene and promote healthy living, Ado-Odo/Ota Local Government Area of Ogun State, has planned to establish a special task force to checkmate traders’ incessant disregard for environmental regulations and enforce sanitation exercise among others in the area. The council chairman, Lawal Wasiu, made this known, at a meeting with market leaders across the local government at the council’s secretariat, Ota, explaining that, one of his priorities is to promote healthy living, where markets would be clean and hygienic enough to boost business activities. Wasiu said part of the measures to achieve clean markets is to establish a sanitation task force that would mete out stringent measures against defaulters, stressing that environmental sanitation is key to healthy living, safety and well-being of the community at large. He urged market leaders to educate their members to maintain a clean environment and promote hygienic living in the market. He added that the sanitation task force would work along with market leaders towards achieving the set objectives of enforcing, monitoring and reporting sanitation defaulters for appropriate fine. In his remarks, Head of Local Government Administration Junaid Wasiu urged the Iyalojas and Babalojas to support the local government by contributing positively to its development, as well as providing information that would help in advancing the socio- economic development of the council. In his contribution, Director of General Service and Administration Bisi Akinde added that marketers should not only maintain a hygienic environment but also eschew roadside trading, that could impede free flow of traffic. In their separate remarks, Iyaloja General Adetoro Adeogun; Iyaloja Atan, Bosede Isiyemi; and Babaloja Oju Ore, Chief Ibrahim Dada appreciated the chairman for taking steps towards addressing challenges confronting the market. They called for intervention over increment in the market levies among other disturbing issues affecting commercial activities, adding that waste bins and refuse package vans should be provided by the local government to make refuse disposal seamless across the area. 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B.C.’s minister of children and family development has been diagnosed with cancer she revealed on Thursday. Grace Lore , who was first elected as the MLA for Victoria-Beacon Hill in 2020, currently represents that riding and previously served as the minister of state for child care and parliamentary secretary for gender equity. In a statement issued on Thursday, Lore said that late last month she was diagnosed with colorectal cancer. “This diagnosis was very sudden, and I am working with medical professionals to address this head on, right away,” she said. “To that end, I am temporarily stepping away from my role as minister of children and family development to look after my health. This file is so important and requires the full attention of someone to make the changes we need because kids need us to get it right. By stepping back, I will be able to focus solely on my treatment and recovery, so I can get back to doing this work as soon as possible.” Lore said she intends to participate in important votes in the house and is committed to beating this cancer and getting back to work soon. Premier David Eby said in a statement that he is saddened by the news of Lore’s cancer diagnosis. “She has been fully dedicated to the role of children and family development, and we look forward to her being able to return to the role after focusing on her recovery,” he said. “Jodie Wickens will step into the role on a temporary basis. “Grace has persevered through immense personal family challenges in recent years, including the illness of her young son. She is an inspiration to me and to people right across the province. I know that her family — Rob, Eve and Asher — will be wrapping her with love during this time. “Our entire BC NDP caucus and larger movement is sending her strength and love during this time, as I know many British Columbians will be when they hear this news.” Lore lives in Victoria with her partner and two young children. In 2021, Lore revealed she was taking a step back from politics after her then four-year-old son was diagnosed with a brain tumor .
The Reserve Bank of India 's ( RBI ) move to draw capital flows by allowing banks to offer higher interest rates for foreign currency deposits for a specific period appears to have had few takers in the three weeks since the plan's announcement. Bankers said the rupee's recent sharp fall and a narrowing in the interest rate gap between the US and India will make it even more difficult to attract depositors. 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 In its December monetary policy, the RBI temporarily raised the ceiling on interest rates banks can offer on foreign currency non-resident accounts or FCNR (B) deposits. Yet, the relevant pages on their respective websites showed that none of the commercial lenders raised interest rates since the central bank gave them the leeway. The RBI allowed banks to raise deposits at a spread of 400 basis points over an Alternate Reference Rate (ARR) for one to three years as against 250 bps spread earlier. For deposits between three and five years, the spread is raised to 500 bps over ARR against a cap of 350 bps. One basis point is a hundredth of a percentage point. "Banks were generally not even offering deposits close to the earlier ceiling," said Madan Sabnavis, chief economist at Bank of Baroda . "Hence, the new ceiling has not made much difference for most banks." 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"Some of the niche private banks will find this useful as they cater more to the expat population. Banks typically match such deposits with foreign currency loan requirements," Sabnavis said. "With this being stable at lower levels, it may not be economical given that the rupee is falling and forex risk is borne by banks." Forex Stockpile The RBI's move to raise the ceiling is to shore up foreign exchange (forex) reserves, which have fallen by $60 billion after touching an all-time high of $706 billion at the end of September. The forex reserves have declined as the RBI is selling dollars to support the rupee, which has consistently weakened against the greenback and hit new record lows of 85.80 Friday. Bankers say the existing spreads of 250-350 bps already offer sufficient flexibility and room for banks to adjust FCNR rates upward. "The spread between US and Indian interest rates has narrowed to its lowest level in recent years, making Indian foreign currency deposits less appealing to the Indian diaspora," said VRC Reddy, head of treasury, Karur Vysya Bank . "On the other hand, demand for export credit in rupee terms remains robust due to interest subvention benefits for MSME borrowers, reducing the attractiveness of borrowing in foreign currency for export credit, particularly when hedging costs are factored in. Even when using FX deposits for rupee-based purposes, the landed cost often exceeds that of rupee deposits, further limiting their appeal." Rather, many banks are offering rates that are lower than the earlier ceiling. The ARR for dollar deposits is pegged around 4.24% for December and an increase in the ceiling by 400 bps allows lenders to offer 8.24% on dollar deposits. However, most banks are offering just about 150-200 bps above the ARR. For instance, the State Bank of India (SBI) is giving savers 5.35% on one-year rate dollar deposits under the FCNR (B) scheme, and the rate has remained the same since mid-October. This shows the rates are lower than the previous spread of 250 bps. SBI offers 3.90% for five FCNB (B) deposits, which is still lower than the revised 500 bps spread. The revised caps announced in the monetary policy review are applicable only until the end of March 2025. "The cash reserve ratio (CRR) exemption on incremental FCNR deposits may encourage banks to raise FCNR deposit rates, thereby attracting more foreign exchange flows-an essential measure in the current economic context," Reddy said. Foreign currency deposits mobilised by banks in rupee equivalent stood at ₹1.98 lakh crore as of March 31, 2024, up 46% over the previous financial year, according to the latest Trends and Progress of Banking report published last week. In 2013, the then governor, Raghuram Rajan, launched the FCNR (B) plan, wherein the RBI effectively provided banks with a cushion against risks of adverse currency movements through the period of a committed deposit. This programme helped banks mobilise nearly $30 billion in overseas deposits. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )ECU CB Shavon Revel Jr. declares for NFL draft
Q3 Sales and operating results better than guidance Q3 Sales increase of 7% represents sequential improvement for the fifth consecutive quarter Raises full year 2024 outlook and provides fourth quarter guidance REYNOLDSBURG, Ohio, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Victoria’s Secret & Co. (“Victoria’s Secret” or the “Company”) (NYSE: VSCO) today reported financial results for the third quarter ended November 2, 2024. Chief Executive Officer Hillary Super commented, “I am very encouraged by the strength of our third quarter business and the positive, early customer response to our holiday merchandise assortments. Sales increased 7% for the quarter, with mid-single digit growth in North America and 20+% growth from our International business. Our sales performance was well ahead of our expectations, and our best quarterly sales growth since 2021. Our strength for the quarter was broad based across all regions, all channels, all major merchandise categories and importantly all brands - Victoria’s Secret, PINK and Adore Me - were up to last year. We won the major moments during the quarter, starting with PINK back to campus in August, followed by our VSX sport launch in September and finishing the quarter with the return of the VS Fashion Show in October. I am particularly optimistic because these results were powered by emotional products she loves and clear, elevated brand marketing and storytelling. Our strength in sales and disciplined inventory management translated to strong margins which were up to last year, and our teams continue to be relentless on controlling costs in our business. I want to thank our VS&Co team whose passion for our brands and commitment to our customers and our transformation fueled these results. It was a great quarter for me to have joined the company and a great quarter to be on the VS&Co team.” Hillary continued, “We are excited to see our momentum from the third quarter continue through Black Friday and Cyber Monday. Our merchandise offering and giftable product assortments are resonating with the customer and driving traffic both in stores and online. The strong product acceptance supported by our best-in-mall store experience and dozens of digital enhancements are driving solid conversion and basket size. As I travel with the teams, I have observed that our stores are often the busiest in the mall and am particularly impressed with how we continue to serve and engage our customers.” Third Quarter 2024 Results The Company reported net sales of $1.347 billion for the third quarter of 2024, an increase of 7% compared to net sales of $1.265 billion for the third quarter of 2023 and above our previously communicated guidance range of a net sales increase of low-single digits. Total comparable sales for the third quarter of 2024 increased 3%. The Company reported a net loss of $56 million, or $0.71 per share for the third quarter of 2024. This result compares to a net loss of $71 million, or $0.92 per share for the third quarter of 2023. Third quarter 2024 operating loss was $47 million compared to $67 million in the third quarter of 2023. Excluding the impact of the items described at the conclusion of this press release, third quarter 2024 adjusted net loss was $39 million, or $0.50 per diluted share, which was better than our previously communicated range of an adjusted net loss of $0.60 to $0.80 per share and better than last year’s third quarter adjusted net loss of $66 million, or $0.86 per share. Third quarter 2024 adjusted operating loss of $28 million was favorable to our previously communicated guidance of an adjusted operating loss in the range of $40 to $60 million, and last year’s third quarter adjusted operating loss of $60 million. Full Year and Fourth Quarter 2024 Outlook The Company is raising its full year outlook and is now forecasting net sales for the 52-week fiscal year 2024 to be up approximately 1% to 2%, compared to prior guidance of down approximately 1%, to a comparative 52-weeks from fiscal year 2023. The Company estimated the extra week in the fourth quarter of 2023 represented approximately $80 million in net sales. At this forecasted level of sales, adjusted operating income for fiscal year 2024 is now expected to be in the range of $315 million to $345 million, or favorable to prior guidance of $275 million to $300 million. The Company is forecasting net sales for the 13-week fourth quarter 2024 to increase approximately 2% to 4% to a comparative 13-weeks from the fourth quarter of 2023. At this forecasted level of sales, adjusted operating income for the fourth quarter of 2024 is expected to be in the range of $240 million to $270 million. Adjusted net income per diluted share for the fourth quarter of 2024 is estimated to be in the range of $2.00 to $2.30. Forecasted adjusted operating income and adjusted net income per diluted share for the fourth quarter and full year 2024 exclude the financial impact of purchase accounting items related to the Adore Me acquisition, including expense (income) related to changes in the estimated fair value of contingent consideration and performance-based payments, as well as the amortization of intangible assets. The Company is not able to provide a reconciliation of forward-looking adjusted operating income or adjusted net income per diluted share to the most directly comparable forward-looking GAAP financial measures because the Company is unable to provide a meaningful or accurate reconciliation or estimation of certain reconciling items without unreasonable effort, due to the inherent difficulty in forecasting the timing of, and quantifying, the various purchase accounting items that are necessary for such reconciliation. Quarterly Earnings Conference Call Victoria’s Secret & Co. will conduct its third quarter earnings call at 8:00 a.m. Eastern on Friday, December 6, 2024. To listen, call 1-800-619-9066 (international dial-in number: 1-212-519-0836); conference ID 5358727. For an audio replay, call 1-800-839-1334 (international replay number: 1-203-369-3831); conference ID 2485654 or log onto www.victoriassecretandco.com . The materials accompanying the earnings call have been posted on the Investors section of the Company’s website. The audio replay will be available approximately two hours after the conclusion of the call. About Victoria’s Secret & Co. Victoria’s Secret & Co. (NYSE: VSCO) is a specialty retailer of modern, fashion-inspired collections including signature bras, panties, lingerie, casual sleepwear, athleisure and swim, as well as award-winning prestige fragrances and body care. VS&Co is comprised of market leading brands, Victoria’s Secret and PINK, that share a common purpose of supporting women in all they do, and Adore Me, a technology-led, digital first innovative intimates brand serving women of all sizes and budgets at all phases of life. We are committed to empowering our more than 30,000 associates across a global footprint of 1,380 retail stores in nearly 70 countries. We strive to provide the best products to help women express their confidence, sexiness and power and use our platform to celebrate the extraordinary diversity of women’s experiences. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements, and any future performance or financial results expressed or implied by such forward-looking statements are not guarantees of future performance. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “will,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “continue,” “potential” and any similar expressions are intended to identify forward-looking statements. Risks associated with the following factors, among others, could affect our results of operations and financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements: we may not realize all of the expected benefits of the spin-off from Bath & Body Works, Inc. (f/k/a L Brands, Inc.); general economic conditions, inflation, and changes in consumer confidence and consumer spending patterns; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises or other major events, or the prospect of these events; our ability to successfully implement our strategic plan; difficulties arising from turnover in company leadership or other key positions; our ability to attract, develop and retain qualified associates and manage labor-related costs; our dependence on traffic to our stores and the availability of suitable store locations on satisfactory terms; our ability to successfully operate and expand internationally and related risks; the operations and performance of our franchisees, licensees, wholesalers and joint venture partners; our ability to successfully operate and grow our direct channel business; our ability to protect our reputation and the image and value of our brands; our ability to attract customers with marketing, advertising and promotional programs; the highly competitive nature of the retail industry and the segments in which we operate; consumer acceptance of our products and our ability to manage the life cycle of our brands, remain current with fashion trends, and develop and launch new merchandise, product lines and brands successfully; our ability to realize the potential benefits and synergies sought with the acquisition of AdoreMe, Inc.; our ability to incorporate artificial intelligence into our business operations successfully and ethically while effectively managing the associated risks; our ability to source materials and produce, distribute and sell merchandise on a global basis, including risks related to: political instability and geopolitical conflicts; environmental hazards and natural disasters; significant health hazards and pandemics; delays or disruptions in shipping and transportation and related pricing impacts; and disruption due to labor disputes; our geographic concentration of production and distribution facilities in central Ohio and Southeast Asia; the ability of our vendors to manufacture and deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations; fluctuations in freight, product input and energy costs; our and our third-party service providers’ ability to implement and maintain information technology systems and to protect associated data and system availability; our ability to maintain the security of customer, associate, third-party and company information; stock price volatility; shareholder activism matters; our ability to maintain our credit rating; our ability to comply with regulatory requirements; and legal, tax, trade and other regulatory matters. Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in “Item 1A. Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 22, 2024. Total Net Sales (Millions): 1 – Results include consolidated joint venture sales in China, royalties associated with franchised stores and wholesale sales. Comparable Sales Increase (Decrease): NOTE: Please refer to our filings with the Securities and Exchange Commission for further discussion regarding our comparable sales calculation. 1 – Results include company-operated stores in the U.S. and Canada, consolidated joint venture stores in China and direct sales. 2 – Results include company-operated stores in the U.S. and Canada and consolidated joint venture stores in China. Total Stores: 1 – Includes twelve partner-operated stores at 11/2/24."Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" To keep reading, please log in to your account, create a free account, or simply fill out the form below.
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