Waste Connections Inc. stock rises Thursday, still underperforms marketHICKSVILLE, N.Y. , Dec. 13, 2024 /PRNewswire/ -- Flagstar Financial, Inc. (NYSE: FLG) (the "Company") today announced the appointment of Brian Callanan , Senior Managing Director and General Counsel at Liberty Strategic Capital ("Liberty"), to its Board of Directors, effective December 16, 2024 . Commenting on the appointment, Joseph M. Otting , Chairman, President, and CEO said, "I'm pleased to have Brian join our Board. His proven track record and expertise in financial services, along with his strategic insights will be instrumental as we continue to execute on our transformation and long-term vision. Brian's perspectives will provide valuable guidance, and his leadership will play a critical role in driving sustainable growth, ensuring we achieve long-term success and maximize the value we deliver to our shareholders, employees, and clients." Callanan is a distinguished lawyer with extensive experience in financial regulation, regulatory compliance, and financial technology. At Liberty, Callanan leads the firm's legal function, serves on its Investment Committee, and focuses on financial sector investments. Prior to joining Liberty, he served as General Counsel of the U.S. Department of the Treasury, overseeing 2,000 lawyers across the department. As Chief General Counsel, he played a key role in major initiatives such as economic rescue programs during COVID-19, the design of new economic sanctions, and the implementation of tax reform. While serving as Deputy General Counsel, Callanan managed major litigation and advised on regulatory reform efforts, among other responsibilities. For his service, he received the Alexander Hamilton Award, the department's highest honor. This appointment aligns with the $1.05 billion equity investment in March 2024 , which stipulated that two Board seats would be granted to lead investor Liberty Strategic Capital. With Callanan's addition, the Company's Board of Directors, which was reconstituted earlier in 2024, expands to nine members, including Chairman, President, and Chief Executive Officer, Joseph M. Otting , Milton Berlinski , Alessandro P. DiNello , Alan Frank , Marshall Lux , Lead Independent Director Secretary Steven T. Mnuchin , Allen Puwalski , and Jennifer Whip. About Flagstar Financial, Inc. Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York . At September 30, 2024, the Company had $114.4 billion of assets, $73.0 billion of loans, deposits of $83 .0 billion, and total stockholders' equity of $8 .6 billion. Flagstar Bank, N.A. operates over 400 branches, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and West Coast. In addition, the Bank has approximately 80 private banking teams located in over 10 cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net worth individuals and their businesses. Cautionary Statements Regarding Forward-Looking Statements This release may include forward‐looking statements by the Company and our authorized officers pertaining to such matters as our goals, beliefs, intentions, and expectations regarding (a) revenues, earnings, loan production, asset quality, liquidity position, capital levels, risk analysis, divestitures, acquisitions, and other material transactions, among other matters; (b) the future costs and benefits of the actions we may take; (c) our assessments of credit risk and probable losses on loans and associated allowances and reserves; (d) our assessments of interest rate and other market risks; (e) our ability to execute on our strategic plan, including the sufficiency of our internal resources, procedures and systems; (f) our ability to attract, incentivize, and retain key personnel and the roles of key personnel; (g) our ability to achieve our financial and other strategic goals, including those related to our merger with Flagstar Bancorp, Inc., which was completed on December 1, 2022, our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction, and our ability to fully and timely implement the risk management programs institutions greater than $100 billion in assets must maintain; (h) the effect on our capital ratios of the approval of certain proposals approved by our shareholders during our 2024 annual meeting of shareholders; (i) the conversion or exchange of shares of the Company's preferred stock; (j) the payment of dividends on shares of the Company's capital stock, including adjustments to the amount of dividends payable on shares of the Company's preferred stock; (k) the availability of equity and dilution of existing equity holders associated with amendments to the 2020 Omnibus Incentive Plan; (l) the effects of the reverse stock split; and (m) transactions relating to the sale of our mortgage business and mortgage warehouse business. Forward‐looking statements are typically identified by such words as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "should," "confident," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Additionally, forward‐looking statements speak only as of the date they are made; the Company does not assume any duty, and does not undertake, to update our forward‐looking statements. Furthermore, because forward‐looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in our statements, and our future performance could differ materially from our historical results. Our forward‐looking statements are subject to, among others, the following principal risks and uncertainties: general economic conditions and trends, either nationally or locally; conditions in the securities, credit and financial markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of our loan or investment portfolios, including associated allowances and reserves; changes in future allowance for credit losses, including changes required under relevant accounting and regulatory requirements; the ability to pay future dividends; changes in our capital management and balance sheet strategies and our ability to successfully implement such strategies; recent turnover in our Board of Directors and our executive management team; changes in our strategic plan, including changes in our internal resources, procedures and systems, and our ability to successfully implement such plan; changes in competitive pressures among financial institutions or from non‐financial institutions; changes in legislation, regulations, and policies; the imposition of restrictions on our operations by bank regulators; the outcome of pending or threatened litigation, or of investigations or any other matters before regulatory agencies, whether currently existing or commencing in the future; the success of our blockchain and fintech activities, investments and strategic partnerships; the restructuring of our mortgage business; our ability to recognize anticipated expense reductions and enhanced efficiencies with respect to our recently announced strategic workforce reduction; the impact of failures or disruptions in or breaches of the Company's operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; the impact of natural disasters, extreme weather events, military conflict (including the Russia / Ukraine conflict, the conflict in Israel and surrounding areas, the possible expansion of such conflicts and potential geopolitical consequences), terrorism or other geopolitical events; and a variety of other matters which, by their nature, are subject to significant uncertainties and/or are beyond our control. Our forward-looking statements are also subject to the following principal risks and uncertainties with respect to our merger with Flagstar Bancorp, which was completed on December 1, 2022 , and our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction: the possibility that the anticipated benefits of the transactions will not be realized when expected or at all; the possibility of increased legal and compliance costs, including with respect to any litigation or regulatory actions related to the business practices of acquired companies or the combined business; diversion of management's attention from ongoing business operations and opportunities; the possibility that the Company may be unable to achieve expected synergies and operating efficiencies in or as a result of the transactions within the expected timeframes or at all; and revenues following the transactions may be lower than expected. Additionally, there can be no assurance that the Community Benefits Agreement entered into with NCRC, which was contingent upon the closing of the Company's merger with Flagstar Bancorp, Inc., will achieve the results or outcome originally expected or anticipated by us as a result of changes to our business strategy, performance of the U.S. economy, or changes to the laws and regulations affecting us, our customers, communities we serve, and the U.S. economy (including, but not limited to, tax laws and regulations). More information regarding some of these factors is provided in the Risk Factors section of our Annual Report on Form 10‐K/A for the year ended December 31, 2023, Quarterly Report on Forms 10-Q for the quarters ended March 31, 2024 , June 30, 2024 , and September 30, 2024 , and in other SEC reports we file. Our forward‐looking statements may also be subject to other risks and uncertainties, including those we may discuss in this news release, on our conference call, during investor presentations, or in our SEC filings, which are accessible on our website and at the SEC's website, www.sec.gov . Investor Contact: Salvatore J. DiMartino (516) 683-4286 Media Contact: Nicole Yelland (248) 219-9234 View original content to download multimedia: https://www.prnewswire.com/news-releases/flagstar-financial-inc-appoints-brian-callanan-to-board-of-directors-302331692.html SOURCE Flagstar Financial, Inc.
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DrBalcony App Redefines Balcony Inspections with Unparalleled EfficiencyTEHRAN – Female scholars constitute 665 out of 4,818 most-cited researchers of the country, more than 13 percent of the total, Ahmad Fazelzadeh, the head of the Islamic World Science Citation (ISC) Institute, has said. In the past Iranian calendar year (March 2023 – March 2024), women accounted for 12.75 percent of most-cited researchers. With 29.57 percent share, the Ministry of Health has the highest number of the most-cited female researchers, IRNA quoted Fazelzadeh as saying. According to the recent report of ISC, in the list of one percent of researchers in the world which is based on the Essential Science Indicators (ESI) database, a total of 177 Iranian female researchers have been recognized in the areas of Agricultural Sciences, Clinical Medicine, Biology, Biochemistry, Chemistry, Pharmacology and Toxicology, Neuroscience and Psychology, Engineering, Material Science, Psychiatry/Psychology, Computer Science, Physics, Molecular Biology and Genetics, Social Sciences, Generalities, Physics, Plant and Animal Sciences, Immunology, and some have obtained the necessary points even in several fields, he added. The official went on to say that according to the Stanford University List which was conducted by a number of researchers from Stanford University and the Elsevier Institute via analyzing the data of the Scopus database, 73 highly cited Iranian female researchers are among the top two percent in the world (service performance) in eight subject areas including Clinical Medicine, Chemistry, Biomedicine, Strategic Technologies (Artificial Intelligence, Nanotechnology, etc.), Biology, Physics, Astrology, Information Technology and Communications, and Engineering. Moreover, 375 female Iranian highly-cited researchers are among the top two percent of the world (one-year performance) in 13 subject areas of Clinical Medicine, Biomedicine, Chemistry, Engineering, Agriculture, Fisheries and Forestry, Strategic Technologies (Artificial Intelligence, Nanotechnology, etc.), Information Technology and Communication, Earth and Environmental Sciences, Physics and Astronomy, Public Health and Health Services, Biology, Statistics and Mathematics, Communication and Textual Research have obtained the necessary points. Using the data indexed in the ISC database, ISC identifies highly cited Iranian researchers in Human Sciences, Social Sciences, Art, and Architecture. In the latest announced list, highly cited researchers have been introduced in the period of 10 years (since 2013). The criteria for selecting researchers in this list is the number of citations made to their scientific productions. Some 40 female researchers in 14 subject areas including Human Sciences, Social Sciences, Art and Architecture, Psychology, Sociology and Political Sciences, Language and Linguistics, Business, Management and Accounting, Theology and Islamic Studies, Educational Sciences, Philosophy, Geographical Sciences, Historical Sciences, Knowledge and Information Science, and other areas gained required scores. According to Zahra Behrouz-Azar, the Vice President for Women and Family Affairs, women account for more than 24 percent of inventions in the country, compared to the global average of 17 percent. “Unfortunately, only 12 percent of entrepreneurship and start-ups are founded by women. We hope that women’s presence in entrepreneurship reaches 30 percent by the end of the current administration,” Behrouz-Azar noted. The official went on to say that in Iran, entrepreneurship officially commenced in 2000. Following that it was defined as a field of study in universities, and the first entrepreneurial major as an interdisciplinary one launched at University of Tehran. Today, the concept of entrepreneurship is interwoven with various fields such as economy, psychology, culture, sociology, and even religion. With the conceptual development of entrepreneurial thought, women’s entrepreneurship begins to grow because there is a difference between men and women in terms of performance, motivation, and access to resources. One of the most important differences between entrepreneurship among women and men is the issue of motivation. Men’s motivation in entrepreneurship is more concerned with earning a living and increasing wealth, but women all over the world tend to use it to strengthen the family foundation. The most important goal in women’s entrepreneurship in the current administration is to promote motivation. Men entrepreneurs can more easily provide resources and capital for their businesses, but this happens less for women. Therefore, educated women face funding problems to start off their business. The government is well aware of the issue and is looking for solutions to boost access to finance for women entrepreneurs, Behrouz-azar highlighted. MT/MG
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Modern Political Campaigns Showcase Revolutionary Marketing Strategies for Business Growth - Commenting Albert Valiakhmetov, Founder of FlyX Marketing Athens, Greece, Nov. 22, 2024 (GLOBE NEWSWIRE) -- In today's digital landscape, where competition is fierce and attention spans are limited, figures like Elon Musk and Donald Trump demonstrate how strategic marketing-whether for a product or a presidential campaign-can redefine engagement. Albert Valiakhmetov, founder of FlyX Marketing, draws intriguing parallels between these strategies and effective brand advertising. Mirroring the tactics used in marketing to influence, engage, and ultimately, build loyalty. As Valiakhmetov observes, " The news that Donald Trump became president reminds us of how much presidential elections resemble classic marketing campaigns. " Both political and advertising campaigns share the fundamental aim of creating a connection with their audience-whether to win votes or attract loyal customers. https://flyxmarketing.com/ " Political campaigns today, especially those as influential as Trump's recent run, highlight marketing principles at their peak effectiveness, " Valiakhmetov explains. " By implementing similar strategies in business, FlyX Marketing has seen up to 200% growth for clients across various sectors. " Campaign strategies such as precision targeting, cross-platform message consistency, and emotionally resonant content have become crucial in both spheres, emphasizing the power of digital influence. Mastering Modern Influence for Brands Key insights from FlyX Marketing stem from current political campaign techniques that have reshaped their approach: Advanced Social Media Strategy: Like political messaging or Elon Musk's provocative use of platforms like X (formerly Twitter) to engage audiences, brand campaigns thrive on tailored approaches to maximize reach. Precision Demographic Targeting: As political campaigns focus on voter bases, FlyX Marketing connects brands with core demographics, leading to higher engagement. Cross-Platform Message Integration: Ensuring a unified message across digital platforms is as crucial in business as it is in politics. From Ballot Box to Brand Building " What's compelling about recent political strategies, such as those used in Trump's and Harris's campaigns, is their intelligent use of digital platforms. Similarly, Elon Musk's ability to spark viral conversations demonstrates the value of cross-platform engagement, a principle FlyX Marketing adopts to revolutionize brand connections. ”, Valiakhmetov notes. " In marketing, the goal is to influence purchasing behavior, while political propaganda seeks to steer public opinion, " Valiakhmetov explains, pointing to the similar foundations of both fields. Emotional Connection: Building Brand Loyalty Through Human Insight One of the standout elements of FlyX Marketing's strategy is creating a deep emotional connection with audiences, drawing on the same principles political campaigns use to sway public sentiment. Just as Trump's messaging struck a chord with voters on issues like economic stability, FlyX's campaigns emphasize brand stories that appeal to core human needs, offering customers relatable themes and solutions to everyday challenges. Digital Innovation at Work with FlyX Marketing FlyX Marketing takes inspiration from the efficiency seen in political campaigns by incorporating cutting-edge technology and data analytics to craft campaigns that resonate deeply. It embraces innovation akin to Elon Musk's ventures, utilizing cutting-edge tools like AI-driven analytics and real-time optimization to craft campaigns that deeply resonate with audiences. Key tools include: AI-Driven Analytics: Predictive models track engagement and fine-tune content, ensuring maximum relevance. Real-Time Optimization: Rapid adjustments increase reach and engagement with audiences. Strategic Audience Segmentation: Building personalized experiences ensures each demographic feels addressed. Platform-Specific Messaging: Tailored content for each channel optimizes overall campaign performance. Here are FlyX Marketing's full suite of services , designed to deliver cutting-edge performance marketing and AI-driven solutions. From advanced data analytics to strategic execution, each service is tailored to maximize growth and drive results. " The recent campaigns by Trump and Harris provide insight into the evolution of digital communication, " observes Valiakhmetov. " These strategies not only shape public opinion but demonstrate best practices in audience engagement for businesses looking to make a real impact." Revolutionizing Marketing with Campaign Insights FlyX Marketing's modern approach combines the following elements, proven to drive substantial results for clients: Viral Content Development: Creating shareable, high-impact content that aligns with brand goals. Data-Driven Strategy: Guiding marketing decisions with real-time data to optimize campaigns. Emotional Connection Building: Connecting on a personal level, similar to political storytelling. Platform-Specific Optimization: Adjusting strategies to maximize impact on each channel. Message Amplification: Reaching larger audiences with clarity and precision. The Future of Marketing in a Politically-Driven Landscape Looking forward, marketing experts can expect to see even greater integration of political strategies within brand advertising and by industry disruptors like Elon Musk, as all these industries increasingly rely on digital and data-driven tools to make impactful decisions. According to Valiakhmetov, the future of branding will likely mirror these trends, further blurring the lines between marketing and political campaigning. Choosing a marketing partner like FlyX Marketing ensures brands are not only prepared for these shifts but are also leading the way. With a proven track record in delivering customized, high-growth campaigns, FlyX continues to set new standards for success, making this era an exciting one for both brands and political strategists alike. More information about services, consultations, and insights can be found on the FlyX Marketing website or by contacting [email protected] . Media Contact Company Name: Flyx Marketing Contact Person: Nick Agamian Email: [email protected] Website: https://flyxmarketing.com/ Disclaimer: This content does not constitute an offer to sell, a solicitation to buy, or a recommendation of any security, product, or service. Furthermore, nothing in this press release should be interpreted as a suggestion to buy, sell, or hold any investment or security, or to participate in any specific investment strategy or transaction. It is your responsibility to assess the suitability of any investment, investment strategy, security, or related transaction based on your individual objectives, financial circumstances, and risk tolerance. Please consult your financial advisor, attorney, or tax advisor for guidance on your specific financial, legal, or tax situation. For more information, contact [email protected] .Hearts Melt As Golden Retriever 'Gently' Wakes Sibling Having a Bad Dream
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The arms race in large language artificial intelligence (AI) is heating up. Can the Gulf countries play a leading role in the sector, given the high savings, cheap energy and good political ties with the US? The tech billionaire Elon Musk has alarmed competitors, and intrigued customers and observers, by rapidly building a supercomputer, appropriately known as Colossus, in just 120 days, in Memphis Tennessee in a new data centre. Its purpose is to power his xAI technology, and it will be of an unprecedented scale: Some 100,000 graphics processing units supplied by Nvidia. Competitors are nervous. There is no guarantee that this formidable scaling up of computer power will give his xAI a superior edge, but no certainty that it won’t. Industry experts reckon that the tools at the rival OpenAI are currently superior, but the sheer computing muscle of Colossus may help xAI close the gap or overtake. What does this mean for the economic world, including the Gulf? The impact of AI is already being felt, will continue and likely intensify. You could say that there has been much hype around AI, accidents such as ‘hallucinations’ in large language models and technical glitches. But you could have made similar criticisms about the aviation sector in the early 20th century – there were crashes and failed models, but it still proceeded to transform long-distance travel around the globe. AI is at a similar stage 100 years on. And just as you need a skilled pilot for an aircraft, similar principles apply with AI. Harvard Business Review in its September-October edition refers to the development of ‘fusion skills’ – the most intelligent applications of AI in which human and artificial intelligence is most effectively combined. For example, breaking a complex problem down into sequential parts, and priming the large language model to address each challenge sequentially, beginning with the simplest, is more effective than asking it to solve a complex problem in one go. Researchers at Google DeepMind have found that this ‘least-to-most’ approach improves the accuracy of AI output from 16% to 99%. Research by the Boston Consulting Group has found that only a minority of firms gain substantial value from AI, and that the most successful companies ensure that the people, skills and processes are optimal. This is the 70-20-10 principle: 70% of the investment is in people and processes; 20% is in technology and data, and just 10% in the algorithms. The most effective companies used AI for growth and revenue generation, not just process efficiencies. In this rapidly developing technology, how should the Gulf countries invest and position themselves? It is likely that China and the US will remain the primary providers of AI, given the scale of the technological investment required, as illustrated by the examples of Elon Musk and his rivals. The response of the Gulf sovereign wealth funds and other key players has been promising. Rather than trying to compete with the US and China in a direct way, they are developing strategic support roles within the existing industry, while identifying niche opportunities for growth. Arabic language models constitute a promising industry. AI specialist companies within the region report that it costs around one third more to train an English large language model and then translate into Arabic, than to train one using Arabic inputs. Doing so can eliminate some of the western biases of English-language models. For Gulf economies, cheap energy offers another competitive advantage in developing AI hubs. Saudi Aramco has calculated that the cost of power locally is around 13% cheaper than the cost per kilowatt hour in the US. Given the considerable computing power needed for large language models, this is significant. Geopolitical considerations are of paramount importance. The Gulf states are political allies of the US, which does not want technological know-how falling into the hands of Iran or China. Saudi Arabia’s sovereign wealth fund PIF has announced a strategic partnership with Google Cloud to develop a specialist hub, which will be a research and education centre, including for Arabic language models, and a base for global enterprises and startups. It will be based near Dammam. This year the United Arab Emirates launched the fund MGX, totalling $100bn, with investors including BlackRock and Microsoft, dedicated to investing in AI companies. The AI revolution is well underway, and there will be significant returns for both providers and users. So far, the key players in the Gulf have made some smart strategic calls. The author is a Qatari banker, with many years of experience in the banking sector in senior positions. Related Story 61 countries to compete in 8th Katara Award for Reciting Holy Qur’an Sheikha Al Mayassa unveils 'The Race Is On' exhibition
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Vikings withstand Bears' furious rally, win on field goal in OTMcDermott+ Check-Up: December 20, 2024Unless you live alone, there's a good chance you've clashed with partners, roommates or other family members over just how warm your home should be in the winter. It's a debate as old as the itself: What is the ideal thermostat setting to balance personal comfort and the bank? And now that the cold months are upon us, battles over the thermostat are sure to begin. Depending on and how well you handle the cold, you could save some money by understanding the best method for programming your thermostat. So, before you go instigating more thermostat wars with others in your household, consider these tips from experts about proper home temperatures for the winter. Turns out, there's a magic number for what experts say you should set your thermostat to in the winter. That setting? 68 degrees Fahrenheit, according to the Department of Energy. If that's too specific, anywhere is a good target when it gets cold, Ram Narayanamurthy, deputy director of the U.S. Department of Energy's Building Technologies Office, told USA TODAY. “A home that’s at 70 degrees is quite comfortable,” Narayanamurthy said. But setting your thermostat to a specific temperature and never changing it . While around 70 degrees is ideal, it's unwise to set your thermostat to one temperature and never change it. Lower temperatures may be more comfortable when sleeping at night and can help keep your bill down when you're away from your home, Narayanamurthy cautioned. The Energy Department says that even from their normal settings for 8 hours a day can save as much as 10% a year on homeowners' heating and cooling costs. And contrary to one prevailing misconception, your heating system doesn't work any harder to warm your house back up after you lower the heat for a set time. Narayanamurthy said he usually sets his at 64 degrees if he leaves his home for an extended period of time, though everyone's comfort levels may be different. “You don’t want your heater turning on all the time when no one’s at home,” he said. Penny-pinchers may be tempted to set their thermostat at bracing levels and survive the winter by bundling up in layers or piling on blankets. While you'd have to set your home at a pretty low temperature for it to become a health risk, Narayanamurthy warns against going below 60 degrees. “You have to keep it really low to really get into a health concern," he said. "What you want to do is keep it at a reasonable temperature that’s not chilly.” The World Health Organization keeping indoor temperatures between 64 and 75 degrees for healthy people. But for those who are very young, elderly, or who have health problems, the minimum temperature shouldn't dip below 68 degrees, the organization says. Many homeowners may be tempted to rely on fireplaces, space heaters, electric blankets and wood-burning stoves to keep warm in the winter. , these types of secondary heating sources can help to slash costs since they offer heating to a more targeted area of your home at a fraction of the cost of cranking up the thermostat. But many of these options come with their own safety risks and similarly require routine maintenance, care and even replacement. Once a fire hazard, modern electric space heaters are much safer than they used to be with built-in safety features that turn the heaters off if they tip over, overheat, or have been left turned on for too long. Experts offer a variety of other tips that, altogether, could cut down on your bills and ensure your heating unit is working at maximum efficiency. A heating system saves money. That means the pricey cost of paying for a professional to come to your home and (anywhere from $150 to $500, Consumer Reports estimates) can pay off in the long run. Because many can connect to smartphones via mobile apps, smart thermostats provide the option for homeowners to program their thermostats while they're away from home or even set a schedule. For that reason, the average Energy Star-certified smart thermostat can save about 8% of a homeowner's annual heating and cooling bills, . : through the Department of Energy may help pay for energy-efficient products and replace heating systems that are 15 years old or older. Funding is available for all kinds of other upgrades as well, from doors to windows, and to insulation. More information is available at .
The Swiss city is expected to finance next year's song contest, despite skepticism from conservatives. The Alpine country will host the event after Swiss artist Nemo won Eurovision this year with "The Code." Voters in the northwestern Swiss city of Basel backed nearly $40 million (€38 million) in public funding on Sunday to host the 2025 Eurovision Song Contest . Preliminary results from Sunday's referendum show that 66.4% of voters in the city supported using taxpayer money for the event. Eurovision funding ensures full spectacle With the funding approved, the annual TV spectacle will proceed with its full traditional flair. Had the money not been granted, Eurovision 2025 would have been scaled back to only the main show, without any public events beyond the main show. The money will be put into programs accompanying the main event, and finance accommodation and expanded public transportation for attendees, among other initiatives. Eurovision is an opportunity for Basel, the home of pharma giants Novartis and Roche, to showcase its cultural attractions such as art museums. Based on the last two contests in Liverpool and Malmo, Basel hopes to make about 60 million Swiss francs (€64 million, $67 million) from the event. Swiss conservatives against funding say ESC promotes propaganda If the money were rejected, the Eurovision side-events in Basel would have been axed. Public funding for Eurovision 2025 was put to a referendum after the national-conservative Federal Democratic Union of Switzerland (EDU) had gathered enough signatures. The minor political party, which promotes Biblical values, has criticized taxpayer money for an event which it sees as promoting antisemitism and occultism. Some voters expressed concerns about traffic disruptions and the financial burden on taxpayers in general. Switzerland will host next year's Eurovision after Swiss singer-rapper Nemo won the 2024 event with the song "The Code." Nemo was the first non-binary artist in history to win the award. Swiss non-binary singer wins 2024 Eurovision Song Contest To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video wd/lo (AFP, dpa)Cal Ripken, Sr. Foundation opens new STEM center at Tinicum school featuring drones and free technology