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Frankston South: Sculptural curved concrete house inspired by surrounding nature and creek and named after the moonNews: Optoelectronics 26 November 2024 POET expands capacity to meet AI infrastructure demand POET Technologies Inc of Toronto, Ontario, Canada — designer and developer of the POET Optical Interposer, photonic integrated circuits (PICs) and light sources for the data-center, telecom and artificial intelligence (AI) markets — is to expand its optical engine production capacity in Malaysia. The firm also announced that it has signed a binding memorandum of understanding (MOU) with Quanzhou Sanan Optical Communication Technology Co Ltd (SAIC) to transfer to POET its 24.8% stake in the China-based joint venture Super Photonics Xiamen (SPX), along with all the production equipment previously leased by SAIC to SPX. With control of SPX, POET now has the flexibility to implement its ‘China Plus One’ strategy to locate its wafer-scale assembly operations outside China. Concurrently, the firm has been negotiating with several contract manufacturers in Malaysia to become the focal point for POET’s wafer-scale assembly of optical engines and expects to sign an agreement in November and to start operations by the end of the year. "The addition of wafer-scale equipment to our assembly & test operations will significantly expand our production capacity to cover the projected needs of our customers for 800G optical engines being sold to AI networks through 2026,” notes POET’s chairman & CEO Dr Suresh Venkatesan. "We can now project an assembly & test capacity exceeding 1 million optical engines per year, all dedicated to the 800G-and-higher-speed transceivers required for AI clusters.” The 24.8% equity stake represents SAIC’s entire ownership position in the JV. With no other shareholders, SPX will become a wholly owned subsidiary of POET and will continue to assemble optical engines for sale in China, adopting the POET company name. The MOU is binding and is also subject to definitive agreements, which are expected to be signed by the end of November. Expansion of IR activities POET has entered into an agreement with 1123963 B.C Ltd DBA CAPITALIZ ON IT to conduct market awareness and marketing services, commencing on 15 November 2024 and terminating on 15 February 2025. The nature of the services to be provided by CAPITALIZ include, but are not limited to, advice, content development, media buying and distribution, and marketing services through social media channels. POET will pay CAPITALIZ a total of US$90,000 for its services, split over the term of the contract in accordance with the services rendered. See related items: POET and Mitsubishi Electric Collaborate to advance AI Networks POET streamlines global engineering organization in response to AI market demand Tags: POET Visit: www.poet-technologies.com
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DETROIT (AP) — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. Economists say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, booze and other goods. The president-elect floated the tariff idea, including additional 10% taxes on goods from China, as a way to force the countries to halt the flow of illegal immigrants and drugs into the U.S. But his posts Monday on Truth Social threatening the tariffs on his first day in office could just be a negotiating ploy to get the countries to change behavior. High food prices were a major issue in voters picking Trump over Vice President Kamala Harris, but tariffs almost certainly would push those costs up even further. For instance, the Produce Distributors Association, a Washington trade group, said Tuesday that tariffs will raise prices for fresh fruit and vegetables and hurt U.S. farmers when other countries retaliate. “Tariffs distort the marketplace and will raise prices along the supply chain, resulting in the consumer paying more at the checkout line,” said Alan Siger, association president. Mexico and Canada are two of the biggest exporters of fresh fruit and vegetables to the U.S. In 2022, Mexico supplied 51% of fresh fruit and 69% of fresh vegetables imported by value into the U.S., while Canada supplied 2% of fresh fruit and 20% of fresh vegetables. Before the election, about 7 in 10 voters said they were very concerned about the cost of food, according to AP VoteCast, a survey of more than 120,000 voters. “We’ll get them down,” Trump told shoppers during a September visit to a Pennsylvania grocery store. The U.S. is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent U.S. Census data. People looking to buy a new vehicle likely would see big price increases as well, at a time when costs have gone up so much they are out of reach for many. The average price of a new vehicle now runs around $48,000. About 15% of the 15.6 million new vehicles sold in the U.S. last year came from Mexico, while 8% crossed the border from Canada, according to Global Data. Much of the tariffs would get passed along to consumers, unless automakers can somehow quickly find productivity improvements to offset them, said C.J. Finn, U.S. automotive sector leader for PwC. That means even more consumers “would potentially get priced out,” Finn said. Hardest hit would be Volkswagen, Stellantis, General Motors and Ford, Bernstein analyst Daniel Roeska wrote Tuesday in a note to investors. “A 25% tariff on Mexico and Canada would severely cripple the U.S. auto industry,” he said. The tariffs would hurt U.S. industrial production so much that “we expect this is unlikely to happen in practice,” Roeska said. The tariff threat hit auto stocks on Tuesday, particularly shares of GM, which imports about 30% of the vehicles it sells in the U.S. from Canada and Mexico, and Stellantis, which imports about 40% from the two countries. For both, about 55% of their lucrative pickup trucks come from Mexico and Canada. GM stock lost almost 9% of its value, while Stellantis dropped nearly 6%. It's not clear how long the tariffs would last if implemented, but they could force auto executives to move production to the U.S., which could create more jobs in the long run. However, Morningstar analyst David Whiston said automakers probably won't make any immediate moves because they can't quickly change where they build vehicles. Millions of dollars worth of auto parts flow across the borders with Mexico and Canada, and that could raise prices for already costly automobile repairs, Finn said. The Distilled Spirits Council of the U.S. said tariffs on tequila or Canadian whisky won’t boost American jobs because they are distinctive products that can only be made in their country of origin. In 2023, the U.S. imported $4.6 billion worth of tequila and $108 million worth of mezcal from Mexico and $537 million worth of spirits from Canada, it said. “Tariffs on spirits products from our neighbors to the north and south are going to hurt U.S. consumers and lead to job losses across the U.S. hospitality industry,” it added. Electronics retailer Best Buy said on its third-quarter earnings conference call that it runs on thin profit margins, so while vendors and the company will shoulder some increases, Best Buy will have to pass tariffs to customers. “These are goods that people need, and higher prices are not helpful,” CEO Corie Barry said. Walmart also warned this week that tariffs could force it to raise prices. Tariffs could trigger supply chain disruptions as people buy goods before they are imposed and companies seek alternate sources of parts, said Rob Handfield, a professor of supply chain management at North Carolina State University. Some businesses might not be able to pass on the costs. “It could actually shut down a lot of industries in the United States. It could actually put a lot of U.S. businesses out of business,” he said. Canadian Prime Minister Justin Trudeau, who talked with Trump after his call for tariffs, said they had a good conversation about working together. "This is a relationship that we know takes a certain amount of working on and that’s what we’ll do,” Trudeau said. Trump's threats come as arrests for illegally crossing the border from Mexico have been falling . But arrests for illegally crossing the border from Canada have been rising over the past two years. Much of America’s fentanyl is smuggled from Mexico, and seizures have increased. Trump has sound legal justification to impose tariffs, even though they conflict with a 2020 trade deal brokered in large part by Trump with Canada and Mexico, said William Reinsch, senior adviser at the Center for Strategic and International Studies and a former Clinton administration trade official. The treaty, known as the USMCA, is up for review in 2026. In China’s case, he could simply declare Beijing hasn't met obligations under an agreement he negotiated in his first term. For Canada and Mexico, he could say the influx of migrants and drugs are a national security threat, and turn to a section of trade law he used in his first term to slap tariffs on steel and aluminum. The law he would most likely use for Canada and Mexico has a legal process that often takes up to nine months, giving Trump time to seek a deal. If talks failed and the duties were imposed, all three countries would likely retaliate with tariffs on U.S. exports, said Reinsch, who believes Trump's tariffs threat is a negotiating ploy. U.S. companies would lobby intensively against tariffs, and would seek to have products exempted. Some of the biggest exporters from Mexico are U.S. firms that make parts there, Reinsch said. Longer term, Mary Lovely, a senior fellow at the Peterson Institute for International Economics, said the threat of tariffs could make the U.S. an “unstable partner” in international trade. “It is an incentive to move activity outside the United States to avoid all this uncertainty,” she said. Trump transition team officials did not immediately respond to questions about what he would need to see to prevent the tariffs from being implemented and how they would impact prices in the U.S. Mexican President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate with tariffs of its own. Sheinbaum said she was willing to talk about the issues, but said drugs were a U.S. problem. ___ Rugaber reported from Washington. AP reporters Dee-Ann Durbin in Detroit, Stan Choe and Anne D'Innocenzio in New York, and Rob Gillies in Toronto contributed to this report.Kwara State Government’s 3 Million Technical Talents (3MTT) initiative at the weekend organised a graduation and hackathon session for the 3MTT Cohort 2, with Governor AbdulRahman AbdulRazaq saying the agenda was to promote digital literacy, innovation, and economic growth in the State. The programme, according to the Special Assistant to the Governor on Digital Innovations, Hon. Kayode Ishola, was an initiative of the Federal Government through the Ministry of Communications, Innovation, and Digital Economy, adding that Kwara was among the first States to key into it by launching an intensive registration and sensitisations drive across the 16 local government areas of the state. It had produced the first set of graduates under 3MTT cohort 1, he added. The programme featured various segments such as a panel discussion, a raffle game for tech creatives and a hackathon product demo. The winner of the hackathon went home with N500,000 while the first and second runners-up got N200,000 and N100,000 cash rewards respectively. The panellists were Prof. Oluwakemi Christiana Abikoye, a lecturer, Department of Computer Science, University of Ilorin; Dr. Abdulrauf Uthman, Dean, Faculty of Computer Science and IT. Al-Hikmah University; and Executive Director, TruORGANIC Initiative, Engr Olaide Olawuwo; among others. In his remarks, the Commissioner for Planning and Economic Development Hon Aliyu Kora Sabi; said the digital-driven initiative will create employment opportunities for youth, check insecurity, enhance efficiency in civil service, and curb corruption within the system. In his introductory remarks, the Special Assistant on Digital Innovations, Kayode Ishola, said the state government provided laptops to deserving tech talents across learning centres to ease and support learning and launched the Kwara Digital Economy Portal to connect them to more opportunities while lauding the Governor for his government’s commitment to digital transformation, and how he is setting the pace in the tech industry. Dr Habeeb Salahudeen, Chief Technology Officer, ALVEUM and one of the Keynote speakers, described the programme as a wake-up call for all relevant stakeholders on the need to see innovation as not just about technology but about people, partnerships and purposes. Habeeb, who spoke on the topic, “Shaping the Future: Using Tech for Sustainable Innovation in Kwara”, urged the policymakers and other government officials to continue to champion policies that enable groundbreaking projects and sustain the movement of building 21st-century generations in technological and innovative solutions.Wake up the ghosts! Texas, Texas A&M rivalry that dates to 1894 is reborn
ST. PAUL — St. Paul-based Bremer Bank is being acquired by Old National Bank, which has headquarters in Evansville, Indiana, in a transaction valued at $1.4 billion in cash and stock. The deal, which still requires regulatory approval and approval by Bremer shareholders, would combine Bremer’s $16.2 billion in assets with Old National’s nearly $54 billion to create a bank with more than $70 billion in total assets. ADVERTISEMENT “This partnership represents an outstanding fit between two highly compatible, relationship- and community-focused banks,” Old National Chairman and CEO Jim Ryan said in a joint announcement released Monday, Nov. 25. Ryan said what has made Bremer Bank a leading institution since 1943 aligns closely with the “strategic priorities and cultural principles that have guided Old National’s success for 190 years: a strong deposit franchise, a diversified loan portfolio accentuated by exceptional credit quality, and a passion for investing in and strengthening communities.” “For more than 80 years, we’ve been honored to carry out the legacy of our founder, Otto Bremer,” said Jeanne Crain, president and CEO of Bremer. “When our majority shareholder, the Otto Bremer Trust, reaffirmed its interest in selling Bremer Bank, we appreciated the opportunity to identify a partner through a collaborative process to ensure the best possible outcome for our customers, employees, and our communities. With Old National, we have confidence we found a great fit,” Crain said as part of the joint announcement. The Otto Bremer Trust, a majority owner of Bremer Bank, is a private charitable trust based in St. Paul. Since the trust’s inception in 1944, it has made more than $1.1 billion in grants and program-related investments to more than 4,200 organizations. Once the merger is complete, the trust will have an approximate 11% ownership stake in Old National Bank and a trustee of the Otto Bremer Trust will join the Old National board of directors. ADVERTISEMENT The Otto Bremer Trust stated as part of the joint announcement: “All of us at the Otto Bremer Trust are excited that the Bremer Bank legacy of investing in people, places and opportunities continues with one of the most community-minded banks in the nation. This partnership expands the scope of what can be accomplished for and within our communities — civically, socially and economically.” Once the deal is finalized, Old National will become the third-largest bank in the Twin Cities, and the partnership will expand Old National’s reach into several other markets throughout Minnesota, North Dakota and Wisconsin. The deal affects 48 Bremer Bank branches in Minnesota and 14 in North Dakota, including six locations in Grand Forks and seven in the Fargo region.What happened with Browns safety Juan Thornhill on that infamous play in New Orleans and why it won’t happen again
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Collaboration between Centre and state, innovation, and public-private partnerships are key to achieving the 2047 goals of a Viksit Bharat, said Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh on Sunday. He said this while chairing the monthly Joint Ministerial Meeting of the Secretaries of all the Science Ministries and Departments of the Government in the national capital. Singh called for aligning all the government departments as well as the Centre and State efforts with a "whole of Government" and "whole of Science" approach to transform India into "Viksit Bharat" by 2047. He called for cooperative federalism in science and stressed the need to integrate all the stakeholders to create a sustainable and progressive ecosystem. The meeting served as a key platform for evaluating ongoing programmes and discussing future strategies to strengthen India’s scientific ecosystem. Singh also emphasised the vital role of State Scientific Councils in fostering innovation, advancing regional development, and contributing to national goals. “State Scientific Councils must rise to the occasion and play their part in achieving the vision of Viksit Bharat. By working together, we can harness the full potential of our scientific resources to transform India into a developed nation by 2047,” the minister added. He urged states to act as catalysts for cultivating a scientific temperament, promoting grassroots innovation, and leveraging local expertise to address unique challenges. The Union Minister also highlighted the importance of market capitalisation for innovations emerging from India’s scientific agencies. “Scientific innovation must not remain confined to laboratories. It should translate into impactful, market-ready solutions that empower industries and improve lives,” he stated. “By effectively marketing technologies, India could establish itself as a global leader in innovation and technology-led solutions,” Singh added. He also advocated for frameworks that enable public-private collaboration to fast-track the commercialisation of lab-scale breakthroughs. The Union minister stressed that such partnerships are essential for bridging the gap between research and real-world applications, ensuring that innovations are accessible, scalable, and impactful.Rangers 'mind games' denied by Jim Goodwin as Dundee Utd boss puts Ian McCall right over his Ibrox tactics
US agencies should use advanced technology to identify mysterious drones, Schumer says
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