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NoneBOSTON -- Two men, including a dual Iranian American citizen, have been arrested on charges that they exported sensitive technology to Iran that was used in a drone attack in Jordan that killed three American troops early this year and injured dozens of other service members, the Justice Department said Monday. The criminal case in federal court in Massachusetts charges the men, identified as Mahdi Mohammad Sadeghi and Mohammad Abedininajafabadi, with export control violations. U.S. officials blamed the January attack on the Islamic Resistance in Iraq, an umbrella group of Iran-backed militias that includes Kataib Hezbollah. Three Georgia soldiers — Sgt. William Jerome Rivers of Carrollton, Sgt. Breonna Moffett of Savannah and Sgt. Kennedy Sanders of Waycross — were killed in the Jan. 28 drone attack on a U.S. outpost in northeastern Jordan called Tower 22. In the attack, the one-way attack drone may have been mistaken for a U.S. drone that was expected to return back to the logistics base about the same time and was not shot down. Instead, it crashed into living quarters, killing the three soldiers and injuring more than 40. Tower 22 held about 350 U.S. military personnel at the time. It is strategically located between Jordan and Syria, only 10 kilometers (6 miles) from the Iraqi border, and in the months just after Hamas’ Oct. 7 attack on Israel, and Israel’s blistering response in Gaza, Iranian-backed militias intensified their attacks on U.S. military locations in the region. Following the attack, the U.S. launched a huge counterstrike against 85 sites in Iraq and Syria used by Iran's Revolutionary Guard and Iranian-backed militia and bolstered Tower 22’s defenses. ____ Tucker and Copp reported from Washington.
Beyoncé performance on Christmas: Ravens' Lamar Jackson plans to skip halftime meeting to watch showAs President-elect Donald Trump makes his transition to the White House, it’s not just his cabinet picks garnering scrutiny — it’s now also his funding as he’s keeping the donors funding the transition effort a secret. Trump has not yet signed an agreement with the outgoing Biden administration — a requirement laid out in the Presidential Transition Act that places restrictions on the amount of fundraising cash in exchange for more than $7 million in federal funds for the “orderly transfer” of power. Because Trump hasn’t signed the agreement, he doesn’t have to work within the confines of the fundraising limits or disclose what interest groups are funding his transition to the White House, The New York Times first reported. This side-step opens the door for anyone, including foreign nationals, to donate directly to Trump without their identities or potential conflicts of interest ever being brought to the public eye, the outlet noted. The Presidential Transition Act also puts a cap on the amount donors can contribute: $5,000 . “When the money isn’t disclosed, it’s not clear how much everybody is giving, who is giving it and what they are getting in return for their donations,” said Heath Brown, a professor of public policy at John Jay College of Criminal Justice, told The Times . “It’s an area where the vast majority of Americans would agree that they want to know who is paying that bill.” While a Trump adviser told CNN earlier this month that the president-elect plans to sign the documents, a timeline was not provided for when that would be completed. “The Trump-Vance transition lawyers continue to constructively engage with the Biden-Harris administration lawyers regarding all agreements contemplated by the Presidential Transition Act,” Brian Hughes, a Trump transition spokesman, told the Times in a statement. The Independent has reached out to the Trump transition team for more information. The White House confirmed earlier this week that the agreements have not been signed. “Our teams continue to stay in touch,” White House press secretary Karine Jean-Pierre said at a press briefing. “As of now, the Trump-Vance transition team has not yet entered into the agreements with the White House and the General Service Administration.” By not signing the required paperwork, Trump “remains unbound by donor contribution limits and disclosure requirements, and is relying on private donors rather than federal funds — opening Trump’s team to financial corruption with no public transparency even before he takes office,” Massachusetts Sen. Elizabeth Warren said in a November 21 letter to the Biden administration. Trump’s refusal to sign the agreements is “unprecedented” and “threatens the American public by hamstringing incoming officials’ ability to govern responsibly,” she continued. Warren also noted that the FBI cannot start its background checks of Trump’s nominees for national security roles until the agreement is signed. Another member of Congress sounded the alarm that Trump’s team had missed two mandatory pre-election deadlines. “Federal law creates a process for major party candidates to engage in smooth transition planning,” Maryland Rep. Jamie Raskin wrote on X in late October. “Trump and Vance have so far boycotted the process, thus already obstructing prospects for an orderly transition.” The Maryland Democrat also wrote a letter on October 23 to Trump and JD Vance urging their transition team to sign the agreements: “Your actions depart from well-established norms of the federal government and demonstrate a spectacular disregard for the successful continuation of the essential institutions of American democratic government.” Trump has officially nominated all of his top 15 cabinet picks as of Saturday.
At the NeurIPS conference, former OpenAI chief scientist Ilya Sutskever forecasted that the integration of reasoning capabilities in AI would lead to unpredictability in technological outcomes. Sutskever, receiving a 'Test of Time' award, discussed the limitations of current pre-training models. Despite achievements like OpenAI's ChatGPT, he noted that data expansion is reaching a plateau due to the finite nature of the internet. He proposed alternatives, such as AI generating new data or refining answers to enhance accuracy. Sutskever co-founded Safe Superintelligence Inc envisioning superintelligent, self-aware machines that can reason like humans, but warned of their inherent unpredictability. (With inputs from agencies.)
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DALLAS (AP) — Luka Doncic is returning to the Dallas lineup Monday night against the Portland Trail Blazers after missing the Mavericks’ two previous games with a left heel contusion. Doncic won last season’s scoring title with a career-best 33.9 points per game and is fifth in the NBA this season averaging 28.9, and seventh in assists, averaging 8.2. He had triple-doubles in three of his last four games, including his most recent appearance last Sunday with 45 points, 13 assists and 11 rebounds in a 143-133 win at Golden State. The defending Western Conference champions are 18-10, fourth in the West, and have won 13 of their last 16 games following their only losing streak of the season, a four-game skid from Nov. 8-14. ___ AP NBA: https://apnews.com/hub/nbaThe Kyle Tucker trade is probably going to work out very well for the Houston Astros because of Cam Smith , but at the same time, it’s less than I thought they’d get for Tucker, who played like a superstar in half a season in 2024 and was worth 5-plus WAR for three straight years before that. The Chicago Cubs seemed very happy to build the best team of perfectly cromulent players, with eight position players worth between 2 and 4 bWAR last year, but nobody who was a real star for his position. Tucker is that and more, immediately becoming the Cubs’ best player, and by trading from some surplus, the Cubs don’t lose anything from the 2025 roster they can’t replace internally. Tucker was in the midst of his best season as a hitter when he fouled a ball off his shin bone, fracturing it and putting him on the injured list for just over three months; his OBP was at a career-high .408, his slugging at a career-high .585, and he was putting the ball in the air more often thanks to a small boost in his average launch angle. He’s one of the best fastball hitters in the game if not the best, ranking in the top three in the game in run value per 100 fastballs as a batter (per Baseball Savant), but he recognizes all pitch types and hits them all pretty well. He hasn’t had a whiff rate against any pitch type over 35 percent in either of the past two years; not even Shohei Ohtani or Aaron Judge can say that. His defensive metrics have bounced all over the place since he became a full-time right fielder, but he’s probably a 50 to 55 defender in the end with an above-average arm. He was en route to an MVP-level, 8-9 WAR season when he got hurt, and I expect more of the same — and maybe more if the Cubs don’t extend him right away and this is a walk year for him. Advertisement Smith, a 6-foot-4, athletic infielder, is the jewel for the Astros here, as the Cubs’ first-round pick in 2024 rolled right into pro ball after a full season at Florida State (hitting .387/.488/.654 in 66 games with just a 15 percent strikeout rate) and then hit .313/.396/.609 across Low A, High A and Double A in 32 more games, again keeping his strikeout rate low (18 percent). Smith remade his body and his swing last offseason and went from kind of a power-over-hit guy who might not stay on the dirt as a 19-year-old high schooler to a pure hitter with looser hands and better bat speed for more frequent and harder contact. He’s only played third base in 2024 between college and the minors and could stay there but is more likely to end up at first or in an outfield corner. There’s a chance this is an elite bat regardless of his position, though, and he immediately becomes the Astros’ best prospect. Paredes is a solid regular who gets on base at an above-average clip and puts the ball in play a lot but has never really grown into harder contact as many scouts expected when he was in his early 20s. His batted-ball metrics are pretty bad across the board, ranking in the bottom quartile in MLB in barrel rate and expected average, the bottom 10 percent in hard-hit rate and the bottom 5 percent in average exit velocity. It’s not great bat speed, and if anything seemed a little worse in 2024, as he went from hammering four-seamers to being just adequate against them. He’s a fringy but serviceable defender at third. His on-base skills are good enough to make him a valuable regular despite all of these limitations, peaking at 4.2 bWAR/4.3 fWAR in 2023, but there isn’t much upside here and he’s going to age extremely poorly. He’s under team control through 2027. Right-hander Hayden Wesneski has starter potential but has been extremely homer-prone in the majors, giving up 32 homers in 157 innings over the past two seasons, two-thirds of them coming off fastballs. He relies heavily on his sweeper, possibly throwing too many different pitches for others to be effective. Though he’s been better in relief in the majors, it’s not a massive difference — 14 points of OBP, 33 points of slugging — and he probably has more value as a back-end starter/swingman than a true reliever. It’s just one year of Tucker’s services, so his trade value isn’t as high as you might expect for a player of his caliber. Even acknowledging that, this deal feels like one excellent prospect and some guys. I’m not a big Paredes believer; his value seems to be as the potential everyday third baseman if Alex Bregman walks, and I expect some decline from Paredes even over the three years he has left to free agency. Houston might have been more inclined to take a deal that returned two big leaguers and one prospect than two or three prospects and maybe less help for the 2025 roster, as they’re still in contending mode. That might have returned less total value than they could have gotten if they’d gone strictly for youth. GO DEEPER What Kyle Tucker trade says about Cubs, Astros: Chicago all-in, Houston seeks sustainability (Top photo: Carmen Mandato / Getty Images)
A white Christmas is forecasted for parts of Ontario as winter weather and snowfall sweeps across the province Monday. Snow moving across Ontario is expected to accumulate from about London eastward to the Quebec border, said Environment Canada meteorologist Brad Rousseau. "Whatever snow falls today looks like it should stick around for Christmas," he said. "A white Christmas looks to be almost a certainty." Up to 20 centimetres is in the forecast across a swath of Ontario from Georgian Bay east toward Perth where the snowfall warnings are in effect. The Greater Toronto Area is under a winter weather travel advisory and could see between five and 15 centimetres of snow by early Tuesday morning. On one of the busiest travel days of the holiday season, Toronto Pearson International Airport urged travellers to check their flight status and take "plenty of extra time" to arrive at the airport. The snow advanced on Ottawa Monday afternoon, and Environment Canada warned it could become heavy at times through the night with accumulations between 10 to 15 centimetres. Drivers on Highway 400 and Highway 11, where some cars were stranded around Gravenhurst during a major storm earlier this month, may come up against poor visibility and hazardous road conditions, Rousseau said. As it moves east, the snow was expected to taper off Monday night and into Tuesday. The low-pressure system developed along the eastern slopes of the Rocky Mountains in Alberta, in what forecasters call an Alberta Clipper. The systems, Rousseau said, are generally characterized by smaller winter storms than low-pressure systems that develop out of Texas or Colorado, but they're generally fast-moving and a little drier. This report by The Canadian Press was first published Dec. 23, 2024. Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. Editor's Picks 10 Family Calendars And Planners That'll Help You Keep Track Of Everything In The New Year Our Guide To The Best Winter Boots You Can Get In Canada 16 Cozy Home Essentials That Cost Less Than $100 Home Our Guide To The Best Snow Shovels In Canada In 2024 (And Where To Get Them) 14 Of The Best Home Security Devices You Can Find Online Right Now (And They've Got The Reviews To Prove It) 13 Of The Best Fidget Toys For Adults Gifts The Clock Is Ticking — Shop These 25 Last-Minute Amazon Prime Gifts Now If You Have An Amazon Prime Account, These 70+ Crowd-Pleasing Gifts Will Still Arrive Before Christmas If You Have An Amazon Prime Account, These 50 Brilliant Stocking Stuffers Will Still Arrive Before Christmas Beauty 20 Products Your Dry, Dehydrated Skin Will Thank You For Ordering 14 Hydrating Face Masks That’ll Save Your Skin This December 12 Budget-Friendly Products To Add To Your Winter Skincare Routine Deals The Altitude Sports Boxing Day Sale Has Begun — Here's What We're Shopping For PSA: The Michael Kors Boxing Week Sale Is Happening Right Now The Silk & Snow End Of Year Sale Is Officially On — Here's What To Add To Your Cart London Top Stories NEW | Blast of Ontario snow brings weather warnings, signs of white Christmas 91-year-old harness driver victorious at The Raceway in London, Ont. SIU concludes LPS was justified in striking a man in August arrest Anonymous $2 million donation given to St. Joseph’s Health Care Next chapter for St. Thomas Elevated Park as it joins forces with Railworks Coalition Canada regulator sues Rogers for alleged misleading claims about data offering New Canadians displaced after fire destroys east London townhome Police issue holiday reminders following pair of break and enters CTVNews.ca Top Stories BREAKING | Emergency crews responding to avalanche in Whistler, B.C., area Paramedics and search crews have been dispatched to the scene of an avalanche that struck Monday in the Whistler, B.C., area. Quebec fugitive killed in Mexican resort town, RCMP say RCMP are confirming that a fugitive, Mathieu Belanger, wanted by Quebec provincial police has died in Mexico, in what local media are calling a murder. Bill Clinton hospitalized with a fever but in good spirits, spokesperson says Former President Bill Clinton was admitted Monday to Georgetown University Medical Center in Washington after developing a fever. Trump again calls to buy Greenland after eyeing Canada and the Panama Canal First it was Canada, then the Panama Canal. Now, Donald Trump again wants Greenland. The president-elect is renewing unsuccessful calls he made during his first term for the U.S. to buy Greenland from Denmark, adding to the list of allied countries with which he's picking fights even before taking office. Pioneering Métis human rights advocate Muriel Stanley Venne dies at 87 Muriel Stanley Venne, a trail-blazing Métis woman known for her Indigenous rights advocacy, has died at 87. King Charles ends royal warrants for Ben & Jerry's owner Unilever and Cadbury chocolatiers King Charles III has ended royal warrants for Cadbury and Unilever, which owns brands including Marmite and Ben & Jerry’s, in a blow to the household names. Man faces murder charges in death of woman who was lit on fire in New York City subway A man is facing murder charges in New York City for allegedly setting a woman on fire inside a subway train and then watching her die after she was engulfed in flames, police said Monday. Canada regulator sues Rogers for alleged misleading claims about data offering Canada's antitrust regulator said on Monday it was suing Rogers Communications Inc, for allegedly misleading consumers about offering unlimited data under some phone plans. Multiple OnlyFans accounts featured suspected child sex abuse, investigator reports An experienced child exploitation investigator told Reuters he reported 26 accounts on the popular adults-only website OnlyFans to authorities, saying they appeared to contain sexual content featuring underage teen girls. Kitchener Parts of southern Ontario under travel advisory Anyone planning to travel today is being urged to be prepared as 5 to 15 cm of snow could hit a large portion of southern Ontario. Beloved bookstore in Uptown Waterloo forced to close for months following fire A beloved bookstore in Uptown Waterloo is bearing the brunt of some holiday misfortune. Must-see moments of 2024: A superstar surprise, roundabout resident and CKCO studios come down From a WWE surprise for a Guelph superfan, to the recovery of a lost aviation artifact, to a reporter getting the story right from the goose's mouth, here are some of our can’t-miss moments from 2024. Barrie Student charged, firearms seized after threats against school: police Police say officers found several firearms during a search at a teen’s home after he allegedly made violent threats against a secondary school. Single-vehicle crash in Springwater Twp. One woman was taken to the hospital following a single-vehicle crash in Springwater Township. Several collisions reported along Highway 11 as driving conditions deteriorate Highway 11 was closed briefly in Oro-Medonte on Monday afternoon as driving conditions deteriorated, causing multiple collisions. Windsor Restaurant staff aid in rescue of two men that fell into the frigid waters of the Detroit River Windsor police say that shortly before 9:00 p.m. on Dec. 20, officers were called after a man fell into the water while standing too close to the marina wall. A second man jumped in to help him. 'It’s really an eye-opener': volunteers bring holiday meals to Chatham residents For the second year in a row, a crew of volunteers is fanning out across Chatham, bringing holiday meals to those who need them most. Child luring investigation sees Windsor resident charged According to Essex OPP, 45-year-old Sean Oulette is facing charges of luring a person under 16 years of age by means of telecommunication. Northern Ontario Fatal snowmobile crash in northern Ont. near Parry Sound A 30-year-old has died following a snowmobile crash near Parry Sound on Sunday. Teen passed out at coffee shop with bottle of booze on the table, northern Ont. police say A 19-year-old from Blind River is facing several charges following incidents at a coffee shop and in jail. Man charged with damaging downtown Sudbury eatery A man free on probation has been charged with causing significant damage to a restaurant on Elgin Street in downtown Sudbury over the weekend. Sault Ste. Marie Northern Ont. hospital to close emergency department for Christmas and Boxing Day A physician shortage is again forcing the closure of the emergency department at the Thessalon Site of the North Shore Health Network – this time for more than 48 hours over the holidays. Suspect charged with headbutting their parent, confining them to a chair in Thessalon, Ont. A member of the family in the northern Ontario community of Thessalon is charged with a vicious assault and forcibly confining their parent. One injured in the Sault after lithium-ion battery starts house fire Sault fire officials have determined a lithium-ion battery to be the cause of a house fire that broke out early this morning. Ottawa Traffic dispute threatens to dampen holiday spirit on Taffy Lane A visit to Ottawa's Taffy Lane in Orléans is a staple this time of year, but a dispute amongst neighbours over traffic congestion is threatening to dim the magic of the holidays for one neighbour. Ottawa mayor speaks on transit funding, federal turmoil in year-end interview Ottawa Mayor Mark Sutcliffe spoke with CTV News on a variety of issues, including transit, the city budget and political turmoil on Parliament Hill in a year-end interview. SNOWFALL WARNING | Pre-Christmas storm forecasted in Ottawa with up to 20 cm of snow tonight Environment Canada has issued a snowfall warning for Ottawa and parts of eastern Ontario with a snowstorm in the forecast Monday afternoon and into the evening. Toronto DEVELOPING | Parts of Ontario under snowfall warning Monday as holiday travellers hit the road Holiday travellers and commuters could be in for a messy drive on Monday morning as a significant round of snowfall moves into the region. Here are live updates on the situation in Toronto. Everything you need to know about what’s open on Christmas in the GTA Here's what you need to know about what's open and closed in the GTA over the Christmas holidays. Toronto takes on New York on 7-game losing streak Toronto Raptors (7-22, 14th in the Eastern Conference) vs. New York Knicks (18-10, third in the Eastern Conference) Montreal Quebec fugitive killed in Mexican resort town, RCMP say RCMP are confirming that a fugitive, Mathieu Belanger, wanted by Quebec provincial police has died in Mexico, in what local media are calling a murder. Guzzo Group says it wants to protect its 500 employees Although the Guzzo Group is currently in turmoil, it is reassuring its employees and customers about the year ahead. Snow on the way as Montreal is put under weather advisory A weather advisory has been initiated for the Greater Montreal area, with 10 to 15 cm of snow expected to hit the ground. Atlantic Court of appeal certifies class action lawsuit against health authority, former nurse A New Brunswick mother who is the lead plaintiff in a court case has received an early Christmas gift after the province’s top court certified her class-action lawsuit. No need to dream, White Christmas all but assured in the Maritimes An early nor'easter followed by a low-pressure system moving into the region all but ensure a Maritime White Christmas Man and woman from New Canada charged for impaired driving: N.S. RCMP Lunenberg District RCMP has charged a man and a woman, both from New Canada, N.S., with impaired driving. Winnipeg An alleged sniper, pair of animal claims featured on MPI’s top five fraud list for 2024 From hitting animals that weren’t there to a sniper that didn’t exist, Manitoba Public Insurance has released its top five frauds of 2024. Manitoba government to make permanent cut to gas tax Manitobans can expect to see a permanent change at the gas pump as early as next week Winnipeg police arrest corrections officer following sexual assault of a youth A corrections officer at a “youth custody facility” has been arrested following a number of sexual assaults against a youth. Calgary Low Canadian dollar a 'double-edged sword' as more Americans travel north: economist A Calgary economist says the low Canadian dollar is a mixed blessing, with data showing that more Americans are travelling north to make the most of their spending. Taxpayers Federation unveils its annual spending 'Naughty and Nice List' A media president and the Prime Minister have topped the Canadian Taxpayers Federation’s annual 'Taxpayer Naughty List' for 2024. Roughriders acquire quarterback Maier's rights from Stampeders for '25 draft pick The Saskatchewan Roughriders acquired the rights to veteran quarterback Jake Maier from the Calgary Stampeders on Monday for a 2025 eighth-round draft pick. Edmonton 'Serious safety issues': Edmonton building where security guard was killed evacuated An apartment building where a security guard was killed earlier this month has been evacuated. City of Edmonton to lift Phase 1 parking ban Monday evening The City of Edmonton will lift the Phase 1 parking ban on Monday at 5 p.m. 2 Alberta men charged with sex crimes involving children in separate investigations Two registered sex offenders are facing charges after separate investigations in northern Alberta. Regina Dog lost in Saskatchewan during cross-country trip reunited with family A family moving from Ontario to Alberta in November had a scare when their family dog got loose during a stop in Dafoe, Sask. and ran away. Estevan police officer arrested following SIRT investigation An officer of the Estevan Police Service (EPS) is facing several charges following an investigation by the province’s police oversight agency. BREAKING | Emergency crews responding to avalanche in Whistler, B.C., area Paramedics and search crews have been dispatched to the scene of an avalanche that struck Monday in the Whistler, B.C., area. Saskatoon 'There are lines': In year-end interview, NDP leader says Moe went too far in election campaign Saskatchewan’s two main political leaders had agreed before October's provincial election not to target the families of candidates during the campaign, says Opposition NDP Leader Carla Beck. Sask. RCMP on the scene of rollover on Highway 40 The Saskatchewan RCMP said Highway 40 was closed Monday afternoon following a rollover just west of Hafford, a village just under 100 kilometres northwest of Saskatoon. Saskatoon woman arrested following machete attack A 55-year-old woman was arrested following a stabbing with a machete early Monday morning. Vancouver BREAKING | Emergency crews responding to avalanche in Whistler, B.C., area Paramedics and search crews have been dispatched to the scene of an avalanche that struck Monday in the Whistler, B.C., area. Court rules B.C. law to push through Vancouver housing project is unconstitutional The B.C. Court of Appeal says a law passed by the provincial government to stave off opposition to a supportive housing development in the Vancouver neighbourhood of Kitsilano is unconstitutional. Cleanup underway after rockslide derails train in B.C. No injuries were reported after a rockslide derailed a freight train, sending railcars into British Columbia's Fraser River, on Sunday night. Vancouver Island BREAKING | Emergency crews responding to avalanche in Whistler, B.C., area Paramedics and search crews have been dispatched to the scene of an avalanche that struck Monday in the Whistler, B.C., area. Cleanup underway after rockslide derails train in B.C. No injuries were reported after a rockslide derailed a freight train, sending railcars into British Columbia's Fraser River, on Sunday night. Court rules B.C. law to push through Vancouver housing project is unconstitutional The B.C. Court of Appeal says a law passed by the provincial government to stave off opposition to a supportive housing development in the Vancouver neighbourhood of Kitsilano is unconstitutional. Stay ConnectedMaking the grade: Canada unveils world junior roster featuring plenty of youth
Gaetz withdraws as Trump's pick for attorney generalAP News Summary at 12:19 p.m. EST
HUMBOLDT, Tenn. (AP) — A Tennessee man was convicted Thursday of killing two men and wounding a third in a shooting at a high school basketball game three years ago. Jadon Hardiman, 21, was found guilty in Gibson County of charges including second-degree murder, attempted murder, aggravated assault and weapons offenses, district attorney Frederick Agee said in a statement. He faces up to 76 years in prison at sentencing in April. Hardiman, of Jackson, attended a basketball game between Humboldt and North Side high schools on Nov. 30, 2021. Then 18, Hardiman entered the Humboldt gymnasium's crowded concession area and pulled a semi-automatic .40 caliber handgun, prosecutors said. He fired three shots at Justin Pankey, a 21-year-old former Humboldt basketball player. Pankey was hit one time and died within seconds, Agee said. A second bullet hit Xavier Clifton, a former North Side student and basketball player, who was standing in the concession line. Clifton was shot in the neck and paralyzed. He died in March 2022. A third shot struck another man in the back of the head. He survived. “Many people were placed in fear of imminent bodily injury by Hardiman’s shooting, as shown by video footage of their fleeing into the gym, into bathrooms, and other areas of the school,” Agee said. Hardiman ran away and drove to Jackson, disposing of the murder weapon along the way, the district attorney said. The U.S. Marshals Service contacted his family, and he was arrested the next day. Agee said the shooting "frightened every adult, student, and child present, who were only there to support their team and enjoy a good game.” Hardiman's lawyer did not immediately return a call seeking comment.
Jamichael Stillwell scores 22 to lead Milwaukee to 69-65 victory over St. Thomas-MinnesotaIndian Bank, which was established on March 5, 1907 and officially started operations on August 15, 1907, has a legacy of over a century. It has navigated several economic crises, becoming a leading financial institution in India. As on September 30, 2024, Indian Bank is the seventh largest public sector bank with a total business of ₹12.44 lakh crore. Public opinion sought On November 2, 1906, a circular went out, inviting people to share their views on starting a “Native Bank in Madras”. The immediate trigger was the failure of the Madras-based Arbuthnot Bank in 1906, which caused misery to depositors, with a cascading effect on the local economy, according to details from the bank. “Also, at the time of the failure of Arbuthnot Bank, the Swadeshi Movement was launched at the Calcutta session of the Indian National Congress in 1906. The establishment of the bank reflected the nationalistic desire for a reliable, Indian-managed financial institution,” say Indian Bank officials. V. Krishnaswamy Iyer, a prominent Madras lawyer, played a pivotal role in the establishment of the bank. S.Rm.M. Ramaswami Chettiar, one of the bank’s first directors, went on to become its inaugural chairman. Raja Sir Annamalai Chettiar, a highly respected leader, joined the board in 1915, contributing significantly to its growth and development. Head office at Parry’s Corner The head office was initially opened in Parry’s Buildings at Parry’s Corner. As the operations grew, the head office was shifted to the Bentinck’s Building on North Beach Road (now Rajaji Salai) in July 1910. Subsequently, it was shifted in May 1970 to 31, Rajaji Salai (now renumbered as 66, Rajaji Salai, Chennai-600001). The bank started out with an initial capital investment of ₹8 lakh. In 1907, the bank’s emblem featured a banyan tree, symbolising overall progress, expansive growth, and continuous prosperity. Another component of the emblem was the frontal view of an elephant, with a long trunk symbolising the bank’s strength. In July 1978, the bank adopted its current logo, featuring three arrows that symbolise savings, investment, and surplus. The bank opened its second branch in Madurai on December 14, 1908, followed by the third in Coimbatore. It expanded internationally with the establishment of its first overseas branch in Colombo, Sri Lanka, in 1932. It went on to open a branch in Singapore in 1941. Before Independence, Indian Bank played an important role in financing local businesses. In 1947, the bank had 73 branches with a total business of ₹27.85 crore and a net profit of ₹0.78 crore. After Independence, it financed industries and offered financial services. The bank’s business, which stood at ₹27.85 crore in 1947, grew to ₹161.43 crore by the time of its nationalisation in 1969. Accounts and deposits In the 1950s, the bank introduced savings and current account services, followed by fixed deposits in the 1960s. The 1980s marked the arrival of ATMs and debit cards, and in the 1990s, online banking and home loans were introduced. Over the years, the bank acquired the businesses of Royalaseema Bank, Bank of Alagapuri, Salem Bank, Mannargudi Bank, and Trichy United Bank. In 1990, the bank acquired the Bank of Thanjavur that had a business of ₹114.64 crore. And the most significant recent merger was the amalgamation of Allahabad Bank with Indian Bank. The merger was completed on April 1, 2020. Indian Bank came out with its initial public offering in February 2007. The bank had offered 8.5955 crore equity shares, of which 10% were reserved for the employees. The issue was over-subscribed 32.03 times and the issue price was ₹91. The bank mobilised a total ₹762.14 crore (₹85.95 crore in equity capital and ₹696.9 crore in share premium). After this issue, the Indian government’s holding in the share capital stood at 80%. Indian Bank was officially listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) after the initial public offering. On the listing day, the equity shares of the bank touched a high of ₹105 in the BSE and ₹100.25 in the NSE. The bank took its maiden step in technology adoption during the 1980s by introducing ATMs and electronic fund transfer. In the 1990s, the bank embraced ALM-TBC, taking its first step towards digitisation. It became a forerunner in introducing tele-banking and online banking. During the 2010s, the bank focused on expanding digital services, launching mobile wallets. At the same time, the bank re-doubled its efforts at financial inclusion in rural areas, empowering under-served communities with digital banking tools. And more recently, the bank has embraced artificial intelligence (AI) and partnered with fintech companies. Now, the bank is headed by Shanti Lal Jain, who is the Managing Director and Chief Executive Officer. As on September 30, 2024, the bank has 5,856 domestic branches: 1,983 rural branches, 1,532 semi-urban branches, 1,174 urban branches, and 1,167 metro branches. The bank also operates three overseas branches and has one International Banking Unit at Gift City in Gujarat. The official data show the bank caters to the needs of over 100 million customers with 40,671 employees. Lending to individuals, small businesses, and public sector enterprises is the bank’s major business. Demand may increase The bank also focuses on providing customised solutions to corporates and government departments. In an email, the bank officials told The Hindu that the demand in retail banking and agriculture is expected to rise, driven by the growing economy and increasing financial inclusion in rural areas. Over the next two years, the bank plans to enhance its digital services and continue expanding its mobile banking, internet banking, and other online services. The bank’s net profit, which stood at ₹753 crore (on a stand-alone basis before the amalgamation of e-Allahabad Bank) for the year ending March 31, 2020, surged to ₹8,063 crore for the year ending March 31, 2024. In the first half of the current fiscal (September 2024), the bank reported a net profit of ₹5,110 crore. Published - December 22, 2024 10:51 pm IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit
Egypt’s Petroleum Minister, Karim Badawi, attended the signing of two strategic agreements between ABB Egypt, a leader in energy and technology solutions, and key stakeholders in Egypt’s industrial sector. These agreements aim to improve energy efficiency and promote sustainability within Egypt’s industrial landscape. The first agreement was signed by Ahmed El-Sherbini, Vice President of ABB Egypt’s Cluster for Energy Industries, and Abed Ezz El Regal, Chairman and Managing Director of Abu Qir Fertilizers and Chemicals Industries Company (AFC). The agreement focuses on the installation of an advanced automation control system at Abu Qir Ammonia Plant (1). This system is designed to optimize steam utilization, resulting in a reduction of natural gas consumption for steam boilers by 2% to 4% in the initial phase. The project will also enhance the plant’s overall operational efficiency. El-Sherbini emphasized the importance of the project, stating, “At ABB, we are committed to providing advanced solutions that support efficiency and sustainability across various industrial sectors.” He added, “This project represents a crucial step in enhancing sustainability and maximizing energy resource use at Abu Qir Fertilizers.” Looking forward, the project includes plans to expand the automation control system to Abu Qir Plants (2) and (3). This expansion will further improve operational performance and generate additional energy savings. Such initiatives align with ABB’s long-standing commitment to supporting Egypt’s Vision 2030, ensuring sustainable growth and environmental responsibility in the country’s industrial sector. In addition, a second agreement was signed between El-Sherbini and Bjorn Q. Aaserod, CEO of the U.S. company MPS, in the presence of Eng. Ibrahim Meki, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), and Moataz Atef, Undersecretary of the Ministry for the Affairs of the Minister’s Office, Technical Office, and official spokesperson. This agreement focuses on ABB’s role in providing advanced technical solutions—encompassing electrical systems, automation control, and digital technologies—for a green hydrogen project. The initiative will partially replace natural gas in production processes, significantly reducing both natural gas consumption and carbon emissions. El-Sherbini commented: “At ABB, we are dedicated to playing a pivotal role in advancing Egypt’s transition to sustainable energy. We strive to deliver cutting-edge solutions that drive operational efficiency across diverse industries, ensuring a future of enhanced sustainability and innovation.”
SANTA CLARA, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. API (the "Company"), a pioneer and leader in real-time engagement technology, today announced its unaudited financial results for the third quarter ended September 30, 2024. "Recently, we launched our Conversational AI SDK in collaboration with OpenAI's Realtime API to allow developers to bring voice-driven AI experiences to any app. We believe multimodal AI agents that can interact with human through natural voice will gain widespread adoption across many use cases such as customer support, education and wellness, and Agora is well positioned to become a key infrastructure provider for real-time conversational AI," said Tony Zhao, founder, chairman and CEO of Agora. "To support this vision, we recently made some structural changes, aligning our organization to fully leverage the accelerating conversational AI opportunities, and operate in a faster, leaner, and more responsive fashion. These changes will help us build the next generation real-time engagement technology for the Generative AI era and strengthen our position as the leader in real-time engagement space." Third Quarter 2024 Highlights Total revenues for the quarter were $31.6 million, a decrease of 9.8% from $35.0 million in the third quarter of 2023, which included decreased revenue from certain end-of-sale products of $2.4 million. Agora : $15.7 million for the quarter, an increase of 2.6% from $15.3 million in the third quarter of 2023. Shengwang : RMB112.9 million ($15.9 million) for the quarter, a decrease of 20.0% from RMB141.2 million ($19.7 million) in the third quarter of 2023, which included decreased revenue from certain end-of-sale products of RMB17.5 million ($2.4 million). Active Customers Agora : 1,762 as of September 30, 2024, an increase of 5.9% from 1,664 as of September 30, 2023. Shengwang : 3,641 as of September 30, 2024, a decrease of 9.7% from 4,034 as of September 30, 2023. Dollar-Based Net Retention Rate Agora : 94% for the trailing 12-month period ended September 30, 2024. Shengwang : 78% for the trailing 12-month period ended September 30, 2024. Net loss for the quarter was $24.2 million, which included expenses of $11.4 million in relation to the cancellation of certain employees' equity awards, severance expenses of $4.8 million, and losses from equity in affiliates of $4.2 million, compared to net loss of $22.5 million in the third quarter of 2023. After excluding share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets and income tax related to acquired intangible assets, non-GAAP net loss for the quarter was $10.4 million, compared to the non-GAAP net loss of $15.6 million in the third quarter of 2023. Total cash, cash equivalents, bank deposits and financial products issued by banks as of September 30, 2024 was $362.6 million. Net cash used in operating activities for the quarter was $4.6 million, compared to $3.0 million in the third quarter of 2023. Free cash flow for the quarter was negative $6.0 million, compared to negative $3.2 million in the third quarter of 2023. Third Quarter 2024 Financial Results Revenues Total revenues were $31.6 million in the third quarter of 2024, a decrease of 9.8% from $35.0 million in the same period last year. Revenues of Agora were $15.7 million in the third quarter of 2024, an increase of 2.6% from $15.3 million in the same period last year, primarily due to our business expansion and usage growth in sectors such as live shopping. Revenues of Shengwang were RMB112.9 million ($15.9 million) in the third quarter of 2024, a decrease of 20.0% from RMB141.2 million ($19.7 million) in the same period last year, primarily due to a decrease in revenues of RMB 17.5 million ($2.4 million) due to the end-of-sale of certain products and reduced usage from customers in certain sectors such as social and entertainment as a result of challenging macroeconomic and regulatory environment. Cost of Revenues Cost of revenues was $10.5 million in the third quarter of 2024, a decrease of 16.4% from $12.6 million in the same period last year, primarily due to the end-of-sale of certain products and the decrease in bandwidth usage and costs, which was offset partially by severance expenses for customer support teams of $0.3 million. Gross Profit and Gross Margin Gross profit was $21.0 million in the third quarter of 2024, a decrease of 6.1% from $22.4 million in the same period last year. Gross margin was 66.7% in the third quarter of 2024, an increase of 2.7% from 64.0% in the same period last year, mainly due to the end-of-sale of certain low-margin products, which was offset partially by higher severance expenses in the third quarter of 2024. Operating Expenses Operating expenses were $45.9 million in the third quarter of 2024, an increase of 24.3% from $36.9 million in the same period last year, primarily due to the increase in restructuring and severance expenses in the third quarter of 2024, which included share-based compensation of $11.4 million as a result of the cancellation of certain employees' equity awards and immediate recognition of relevant remaining unrecognized compensation expenses, as well as severance expenses of $4.4 million. Research and development expenses were $29.3 million in the third quarter of 2024, an increase of 46.1% from $20.0 million in the same period last year, primarily due to restructuring and severance expenses in the third quarter of 2024, including share-based compensation of $9.0 million due to equity award cancellation and severance expenses of $3.6 million. Sales and marketing expenses were $6.9 million in the third quarter of 2024, a decrease of 11.9% from $7.8 million in the same period last year, primarily due to a decrease in personnel costs as the Company optimized its global workforce, which was offset partially by severance expenses of $0.7 million in the third quarter of 2024. General and administrative expenses were $9.7 million in the third quarter of 2024, an increase of 7.4% from $9.1 million in the same period last year, primarily due to restructuring and severance expenses in the third quarter of 2024, including share-based compensation of $2.4 million as a result of the equity award cancellation, which was offset partially by a decrease in personnel costs as the Company optimized its global workforce. Loss from Operations Loss from operations was $24.7 million in the third quarter of 2024, compared to $13.9 million in the same period last year. Interest Income Interest income was $3.9 million in the third quarter of 2024, compared to $4.9 million in the same period last year, primarily due to the decrease in the average balance of cash, cash equivalents, bank deposits and financial products issued by banks and the decrease in average interest rate realized. Losses from equity in affiliates Losses from equity in affiliates were $4.2 million in the third quarter of 2024, primarily due to an impairment loss on an investment in certain private company of $4.1 million. Net Loss Net loss was $24.2 million in the third quarter of 2024, compared to $22.5 million in the same period last year. Net Loss per American Depositary Share attributable to ordinary shareholders Net loss per American Depositary Share ("ADS") 1 attributable to ordinary shareholders was $0.26 in the third quarter of 2024, compared to $0.23 in the same period last year. _____________ 1 One ADS represents four Class A ordinary shares. Share Repurchase Program During the three months ended September 30, 2024, the Company repurchased approximately 6.8 million of its Class A ordinary shares (equivalent to approximately 1.7 million ADSs) for approximately US$3.9 million under its share repurchase program, representing 1.9% of its US$200 million share repurchase program. As of September 30, 2024, the Company had repurchased approximately 129.4 million of its Class A ordinary shares (equivalent to approximately 32.3 million ADSs) for approximately US$113.7 million under its share repurchase program, representing 57% of its US$200 million share repurchase program. As of September 30, 2024, the Company had 368.3 million ordinary shares (equivalent to approximately 92.1 million ADSs) outstanding, compared to 449.8 million ordinary shares (equivalent to approximately 112.5 million ADSs) outstanding as of January 31, 2022 before the share repurchase program commenced. The current share repurchase program will expire at the end of February 2025. Executive Leadership Update Today the Company announced that Chief Security Officer Roger Hale will be leaving the Company, effective immediately. Mr. Hale has served in this role for the past 2.5 years, during which he made significant contributions to enhancing the Company's security, compliance, and data protection protocols. Mr. Hale will work closely with senior leadership to ensure a smooth transition of his responsibilities. Moving forward, Patrick Ferriter and Robbin Liu will assume responsibility for security and compliance, reflecting the Company's commitment to maintaining a strong and effective security framework. Mr. Hale will continue to provide strategic advice as an advisor to the Company. "We are grateful for Roger's dedication and expertise over the past two and a half years. His leadership has been invaluable in strengthening our security & compliance foundation," said Tony Zhao, founder, chairman and CEO of Agora. "Security and compliance remain top priorities for Agora, and we will continue to uphold the highest standards to protect our customers and stakeholders." Financial Outlook Based on currently available information, the Company expects total revenues for the fourth quarter of 2024 to be between $34 million and $36 million, compared to $31.6 million in the third quarter of 2024, and $33.3 million in the fourth quarter of 2023 if revenues from certain end-of-sale low-margin products were excluded. The Company also expects significant improvement in net income / (loss) in the fourth quarter. This outlook reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change. Earnings Call The Company will host a conference call to discuss the financial results at 5 p.m. Pacific Time / 8 p.m. Eastern Time on November 25, 2024. Details for the conference call are as follows: Event title: Agora, Inc. 3Q 2024 Financial Results The call will be available at https://edge.media-server.com/mmc/p/wie28zvr Investors who want to hear the call should log on at least 15 minutes prior to the broadcast. Participants may register for the call with the link below. https://register.vevent.com/register/BIf58a0b6f500c4362b1a8c64f9fa4cea8 Please visit the Company's investor relations website at https://investor.agora.io on November 25, 2024 to view the earnings release and accompanying slides prior to the conference call. Use of Non-GAAP Financial Measures The Company has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). The Company uses these non-GAAP financial measures internally in analyzing its financial results and believe that the use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing its financial results with other companies in its industry, many of which present similar non-GAAP financial measures. Besides free cash flow (as defined below), each of these non-GAAP financial measures represents the corresponding GAAP financial measure before share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. The Company believes that such non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effects of such share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill that it includes in its cost of revenues, total operating expenses and net income (loss). The Company believes that all such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP. A reconciliation of its historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the tables captioned "Reconciliation of GAAP to Non-GAAP Measures" included at the end of this press release, and investors are encouraged to review the reconciliation. Definitions of the Company's non-GAAP financial measures included in this press release are presented below. Non-GAAP Net Income (Loss) Non-GAAP net income (loss) is defined as net income (loss) adjusted to exclude share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. Free Cash Flow Free cash flow is defined as net cash provided by operating activities less purchases of property and equipment (excluding the acquisition of land use right and the payment for the headquarters project). The Company considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business. Operating Metrics The Company also uses other operating metrics included in this press release and defined below to assess the performance of its business. Active Customers An active customer at the end of any period is defined as an organization or individual developer from which the Company generated more than $100 of revenue during the preceding 12 months. Customers are counted based on unique customer account identifiers. Generally, one software application uses the same customer account identifier throughout its life cycle while one account may be used for multiple applications. Dollar-Based Net Retention Rate Dollar-Based Net Retention Rate is calculated for a trailing 12-month period by first identifying all customers in the prior 12-month period, and then calculating the quotient from dividing the revenue generated from such customers in the trailing 12-month period by the revenue generated from the same group of customers in the prior 12-month period. As the vast majority of revenue generated from Agora's customers is denominated in U.S. dollars, while the vast majority of revenue generated from Shengwang's customers is denominated in Renminbi, Dollar-Based Net Retention Rate is calculated in U.S. dollars for Agora and in Renminbi for Shengwang, which has substantially removed the impact of foreign currency translations. Shengwang excluded the revenues from certain end-of-sale products, Easemob's CEC business and K12 academic tutoring sector. The Company believes Dollar-Based Net Retention Rate facilitates operating performance comparisons on a period-to-period basis. Safe Harbor 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 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding the Company's financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as "expect," "anticipate," "believe," "project," "will" and similar expressions intended to identify forward-looking statements. Among other things, the Financial Outlook in this announcement contain forward-looking statements. These forward-looking statements are based on the Company's current expectations and involve risks and uncertainties. The Company's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the growth of the RTE-PaaS market; the Company's ability to manage its growth and expand its operations; the continued impact of COVID-19 on global markets and the Company's business, operations and customers; the Company's ability to attract new developers and convert them into customers; the Company's ability to retain existing customers and expand their usage of its platform and products; the Company's ability to drive popularity of existing use cases and enable new use cases, including through quality enhancements and introduction of new products, features and functionalities; the Company's fluctuating operating results; competition; the effect of broader technological and market trends on the Company's business and prospects; general economic conditions and their impact on customer and end-user demand; and other risks and uncertainties included elsewhere in the Company's filings with the Securities and Exchange Commission ("SEC"), including, without limitation, the final prospectus related to the IPO filed with the SEC on June 26, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. About Agora, Inc. Agora, Inc. is the Cayman Islands holding company of two independent divisions, under Agora brand and Shengwang brand, respectively, whose businesses are conducted through separate entities. Headquartered in Santa Clara, California, Agora is a pioneer and global leader in Real-Time Engagement Platform-as-a-Service (PaaS), providing developers with simple, flexible, and powerful application programming interfaces, or APIs, to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications. Headquartered in Shanghai, China, Shengwang is a pioneer and leading Real-Time Engagement PaaS provider in the China market. For more information on Agora, please visit: www.agora.io For more information on Shengwang, please visit: www.shengwang.cn Agora, Inc. Condensed Consolidated Balance Sheets (Unaudited, in US$ thousands) As of As of September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents 32,118 36,894 Short-term bank deposits 161,906 86,924 Short-term financial products issued by banks 106,638 84,853 Short-term investments 3,066 7,983 Accounts receivable, net 37,381 34,668 Prepayments and other current assets 21,087 9,059 Contract assets 1,127 1,048 Total current assets 363,323 261,429 Property and equipment, net 4,238 5,365 Construction in progress for the headquarters project 35,429 17,343 Operating lease right-of-use assets 4,476 4,011 Intangible assets 741 1,274 Long-term bank deposits 20,500 143,127 Long-term financial products issued by banks 41,400 20,000 Long-term investments 41,012 43,893 Land use right, net 166,434 167,246 Other non-current assets 13,943 10,907 Total assets 691,496 674,595 Liabilities and shareholders' equity Current liabilities: Accounts payable 15,196 12,996 Advances from customers 8,155 7,765 Taxes payable 1,686 906 Current operating lease liabilities 1,924 2,447 Accrued expenses and other current liabilities 32,148 32,780 Total current liabilities 59,109 56,894 Long-term operating lease liabilities 2,429 1,726 Deferred tax liabilities 113 196 Long-term borrowings for the headquarters project 33,762 11,027 Other non-current liabilities 19,543 3 Total liabilities 114,956 69,846 Shareholders' equity: Class A ordinary shares 39 39 Class B ordinary shares 8 8 Additional paid-in-capital 1,148,502 1,138,346 Treasury shares, at cost (77,316) (79,716) Accumulated other comprehensive loss (7,907) (10,027) Accumulated deficit (486,786) (443,901) Total shareholders' equity 576,540 604,749 Total liabilities and shareholders' equity 691,496 674,595 Agora, Inc. Condensed Consolidated Statements of Comprehensive Loss (Unaudited, in US$ thousands, except share and per ADS amounts) Three Month Ended Nine Month Ended September 30, September 30, 2024 2023 2024 2023 Real-time engagement service revenues 30,356 32,718 95,716 100,798 Real-time engagement on-premise solution and other revenues 1,217 2,298 3,087 4,699 Total revenues 31,573 35,016 98,803 105,497 Cost of revenues 10,524 12,594 36,304 38,693 Gross profit 21,049 22,422 62,499 66,804 Operating expenses: Research and development 29,271 20,040 65,551 61,356 Sales and marketing 6,860 7,789 19,944 26,903 General and administrative 9,741 9,070 26,349 27,100 Total operating expenses 45,872 36,899 111,844 115,359 Other operating income 134 620 914 1,515 Impairment of goodwill - - - (31,928 ) Loss from operations (24,689 ) (13,857 ) (48,431 ) (78,968 ) Exchange gain (loss) 43 20 108 (191 ) Interest income 3,924 4,850 13,244 14,006 Interest expense (86 ) - (251 ) - Investment income (loss) 839 (13,356 ) (4,033 ) (18,497 ) Losses from extinguishment of convertible note - - - (1,230 ) Other income - - - 550 Loss before income taxes (19,969 ) (22,343 ) (39,363 ) (84,330 ) Income taxes - (164 ) (149 ) (323 ) (Losses) income from equity in affiliates (4,211 ) (6 ) (3,373 ) 45 Net loss (24,180 ) (22,513 ) (42,885 ) (84,608 ) Net loss attributable to ordinary shareholders (24,180 ) (22,513 ) (42,885 ) (84,608 ) Other comprehensive loss: Foreign currency translation adjustments 3,197 1,164 2,119 (6,097 ) Gain on available-for-sale debt securities - - - 1,385 Total comprehensive loss attributable to ordinary shareholders (20,983 ) (21,349 ) (40,766 ) (89,320 ) Net loss per ADS attributable to ordinary shareholders, basic and diluted (0.26 ) (0.23 ) (0.46 ) (0.84 ) Weighted-average shares used in computing net loss per ADS attributable to ordinary shareholders, basic and diluted 371,733,050 389,359,207 372,336,342 405,036,312 Share-based compensation expenses included in: Cost of revenues 31 129 184 576 Research and development expenses 10,776 3,769 15,886 10,668 Sales and marketing expenses 241 800 838 3,705 General and administrative expenses 2,599 1,945 4,332 5,953 Agora, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited, in US$ thousands) Three Month Ended Nine Month Ended September 30, September 30, 2024 2023 2024 2023 Cash flows from operating activities: Net loss (24,180 ) (22,513 ) (42,885 ) (84,608 ) Adjustments to reconcile net loss to net cash used in operating activities: Share-based compensation expenses 13,647 6,643 21,240 20,902 Allowance for current expected credit losses 2,415 1,857 7,263 5,358 Depreciation of property and equipment 788 1,558 2,726 5,680 Amortization of intangible assets 131 345 533 1,036 Amortization of land use right 856 850 2,572 2,312 Deferred tax benefit (20 ) (53 ) (82 ) (159 ) Amortization of right-of-use asset and interest on lease liabilities 687 704 2,035 2,218 Investment (income) loss (839 ) 13,356 4,033 18,497 Losses from extinguishment of convertible note - - - 1,230 Interest income on debt securities and investments - - - (105 ) Losses (income) from equity in affiliates 4,211 6 3,373 (45 ) Loss (gain) on disposal of property and equipment 1 34 16 (10 ) Impairments of goodwill - - - 31,928 Changes in assets and liabilities, net of effect of acquisition: Accounts receivable (1,627 ) (4,503 ) (9,418 ) (7,856 ) Contract assets (38 ) (86 ) (67 ) (942 ) Prepayments and other current assets 347 (659 ) (12,129 ) (1,008 ) Other non-current assets (472 ) (2,104 ) 6,668 (5,160 ) Accounts payable (2,531 ) 2,653 2,042 3,639 Advances from customers (41 ) 100 316 (559 ) Taxes payable 107 31 761 (802 ) Operating lease liabilities (677 ) (324 ) (2,319 ) (1,869 ) Deferred income 256 - 62 (160 ) Accrued expenses and other liabilities 2,357 (928 ) (5,404 ) (6,808 ) Net cash used in operating activities (4,622 ) (3,033 ) (18,664 ) (17,291 ) Cash flows from investing activities: Purchase of property and equipment (1,333 ) (206 ) (2,297 ) (656 ) Purchase of short-term bank deposits - (58,000 ) (43,100 ) (187,521 ) Purchase of short-term financial products issued by banks (50,300 ) (19,525 ) (70,391 ) (29,899 ) Purchase of short-term investments - (789 ) - (789 ) Proceeds from maturity of short-term bank deposits 37,000 86,000 111,241 434,058 Proceeds from maturity of short-term financial products issued by banks 59,482 - 69,511 8,310 Purchase of long-term bank deposits (10,500 ) - (20,500 ) (143,127 ) Purchase of long-term financial products issued by banks (32,000 ) - (41,400 ) (20,000 ) Purchase of long-term investments (562 ) - (562 ) (15 ) Purchase of land use right - - - (5,133 ) Payment for the headquarters project (10,918 ) (1,839 ) (21,895 ) (4,326 ) Cash received for business disposal - - - 5,769 Cash received from disposal of property and equipment 2 36 58 87 Cash paid for a business combination - - - (3,680 ) Cash received from disposal of long-term investments 28 - 155 - Net cash (used in) provided by investing activities (9,101 ) 5,677 (19,180 ) 53,078 Cash flows from financing activities: Proceeds from long-term borrowings for headquarters project 11,123 - 22,177 - Deposits returned for business disposal - - - (1,000 ) Proceeds from exercise of employees' share options 175 74 550 590 Deposit received in relation to headquarters project - - 19,280 - Repurchase of Class A ordinary shares (3,913 ) (12,462 ) (9,667 ) (52,829 ) Net cash provided by (used in) financing activities 7,385 (12,388 ) 32,340 (53,239 ) Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 819 53 678 (1,286 ) Net decrease in cash, cash equivalents and restricted cash (5,519 ) (9,691 ) (4,826 ) (18,738 ) Cash balance recorded in held-for sale assets at beginning of period - - - 1,488 Cash, cash equivalents and restricted cash at beginning of period * 37,867 38,268 37,174 45,827 Cash, cash equivalents and restricted cash at end of period ** 32,348 28,577 32,348 28,577 Supplemental disclosure of cash flow information: Income taxes paid 24 33 133 65 Cash payments included in the measurement of operating lease liabilities 677 324 2,319 1,869 Right-of-use assets obtained in exchange for operating lease obligations 1,812 - 2,325 4,088 Non-cash financing and investing activities: Proceeds receivable from exercise of employees' share options 328 25 328 25 Payables for property and equipment 33 24 33 24 Payables for construction in progress for the headquarters project 11,614 6,458 11,614 6,458 Payables for treasury shares, at cost 24 301 24 301 * includes restricted cash balance 280 280 280 154 ** includes restricted cash balance 230 280 230 280 Agora, Inc. Reconciliation of GAAP to Non-GAAP Measures (Unaudited, in US$ thousands, except share and per ADS amounts) Three Month Ended Nine Month Ended September 30, September 30, 2024 2023 2024 2023 GAAP net loss (24,180 ) (22,513 ) (42,885 ) (84,608 ) Add: Share-based compensation expenses 13,647 6,643 21,240 20,902 Acquisition related expenses - 13 - (400 ) Amortization expenses of acquired intangible assets 129 345 531 1,035 Income tax related to acquired intangible assets (20 ) (53 ) (82 ) (159 ) Impairment of goodwill - - - 31,928 Non-GAAP net loss (10,424 ) (15,565 ) (21,196 ) (31,302 ) Net cash used in operating activities (4,622 ) (3,033 ) (18,664 ) (17,291 ) Purchase of property and equipment (1,333 ) (206 ) (2,297 ) (656 ) Free Cash Flow (5,955 ) (3,239 ) (20,961 ) (17,947 ) Net cash (used in) provided by investing activities (9,101 ) 5,677 (19,180 ) 53,078 Net cash provided by (used in) financing activities 7,385 (12,388 ) 32,340 (53,239 ) © 2024 Benzinga.com. 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When Kim Kardashian held hands with a Tesla Robot, the internet went wild. On November 19, Kardashian posted a series of photos of her with a one-of-a-kind gold Tesla Optimus AI Robot. Why did the internet go wild? These are not just any photos, Kardashian's photoshoot is almost like how people get photographed with their partners. She can be seen holding the robot's hands and even sitting on its lap inside a Tesla Cybercab. Netizens after looking at this photo are going back to the 2016 tweet by The Sun, which said: "Women will be having more sex with ROBOTS than men by 2025". Many are saying that the prophecy is fulfilled and the prediction is now true. But What Does It Really Mean? We asked Ruchi Ruuh, a relationship counsellor why specifically the prediction focuses on women's relationship with a robot, whereas it could be men too. "Robots could offer women a kind of "perfect" partner that might offer predictability and consistency that they might feel are missing in men in general," she explains. Is it because women are unwilling to invest emotionally? " It’s not necessarily that women are unwilling to invest emotionally, but robots may provide a safer alternative without rejection or betrayal. This choice could symbolize a deeper desire to feel safe and secure with the partner," explains Ruuh. She also points out that women are creatures who primarily look for safety and when the world around them seems unsafe, whether physically, sexually, or emotionally, they would be driven to a robot or any alternative that makes them feel safe. Having said that, Ruuh also points out that robots can never replace men or real people. However, the "fatigue from giving too much without reciprocation" is leading to the speculation that women may consider robots as a "less complex and a more manageable solution." "While most people are taking it like a literal sexual intimacy, it's much more than that. It is about safety," point What was the 2016 prediction? Dr Ian Pearson, a futurologist suggested that women will soon be "getting busy with robots rather than men," reports The Sun. Ian's prediction comes from how sexual exploration has evolved around women's body. Women are now more able to have a connection and relationship with their bodies. Also Read: Ministry Of Sex: Russian Government Is Entering Your Bedroom, Wants You To Have More Sex! Toys and massagers, which used to be taboo earlier are now an integral part of women's magazines. A lot of people will still have reservations about sex with robots at first but gradually as they get used to them, as the AI (artificial intelligence) and mechanical behaviour and their feel improve, and they start to become friends with strong emotional bonds, that squeamishness will gradually evaporate," he said in the report, commissioned by Bondara. In fact, there have been cases reported earlier where many have fallen in love with their AI-assistant. Robosexuality Is More Complex Than You Think A new research titled Technically in love: Individual differences relating to sexual and platonic relationships with robots, published in the Journal of Social and Personal Relationships reveals that robosexuality is an attitude towards and interest in sexual relationship with robots. The study found that there are three broad attitudes which can lead to robosexuality including a sociosexual orientation where someone can invest in a sexual relationship without emotional attachment. The second attitude is called hostile sexism, where people view gender relations as competitive and full of conflict, so choose something that is neither a man nor a woman, so there exists no concept of control over one another. The third attitude is social dominance orientation, which measures a person's desire to support and maintain a ranking of different groups. This means supporting the idea that people from different racial groups or social classes having a certain sexual orientation should be ranked below others. These three measuring units were used to study the role of robosexuality that plays in people's lives. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Relationships, Lifestyle and around the world.