NEW YORK (AP) — New York City Mayor Eric Adams met with President-elect Donald Trump’s incoming “border czar” on Thursday, with the Democratic mayor expressing an enthusiasm to work with the incoming administration to pursue violent criminals in the city while Trump promises mass deportations. The mayor’s meeting with Tom Homan, who will oversee the southern and northern borders and be responsible for deportation efforts in the Trump administration, came as Adams has welcomed parts of the president-elect’s hardline immigration platform. Adams told reporters at a brief news conference that he and Homan agreed on pursuing people who commit violent crimes in the city but did not disclose additional details or future plans. “We’re not going to be a safe haven for those who commit repeated violent crimes against innocent migrants, immigrants and longstanding New Yorkers,” he said. “That was my conversation today with the border czar, to figure out how to go after those individuals who are repeatedly committing crimes in our city.” The meeting marked Adams’ latest and most definitive step toward collaborating with the Trump administration, a development that has startled critics in one of the country’s most liberal cities. In the weeks since Trump’s election win, Adams has mused about potentially scaling back the city’s so-called sanctuary policies and coordinating with the incoming Trump administration on immigration. He has also said migrants accused of crimes shouldn’t have due process rights under the Constitution, though he eventually walked back those comments. The mayor further stunned Democrats when he sidestepped questions last week on whether he would consider changing parties to become a Republican, telling journalists that he was part of the “American party.” Adams later clarified that he would remain a Democrat. For Adams, a centrist Democrat known for quarreling with the city’s progressive left, the recent comments on immigration follow frustration with the Biden Administration over its immigration policies and a surge of international migrants in the city. He has maintained that his positions have not changed and argues he is trying to protect New Yorkers, pointing to the law-and-order platform he has staked out throughout his political career and during his successful campaign for mayor. At his news conference Thursday, Adams reiterated his commitment to New York’s generous social safety net. “We’re going to tell those who are here, who are law-abiding, to continue to utilize the services that are open to the city, the services that they have a right to utilize, educating their children, health care, public protection,” he said. “But we will not be the safe haven for those who commit violent acts.” While the education of all children present in the U.S. is already guaranteed by a Supreme Court ruling, New York also offers social services like healthcare and emergency shelter to low-income residents, including those in the country illegally. City and state grants also provide significant access to lawyers, which is not guaranteed in the immigration court as they are in the criminal court. Still, Adams’ recent rhetoric has been seen by some critics as an attempt to cozy up to Trump, who could potentially offer a presidential pardon in his federal corruption case. Adams has been charged with accepting luxury travel perks and illegal campaign contributions from a Turkish official and other foreign nationals looking to buy his influence. He has pleaded not guilty. Homan, who was Trump’s former acting U.S. Immigration and Customs Enforcement director, also met this week with Republicans in Illinois, where he called on Gov. J.B. Pritzker and Chicago Mayor Brandon Johnson, both Democrats, to start negotiations over how Trump’s mass deportation plans, according to local media. Separately, New York City officials this week announced continued efforts to shrink a huge emergency shelter system for migrants because of a steady decline in new arrivals. Among the planned shelter closures is a massive tent complex built on a federally owned former airport in Brooklyn, which advocates have warned could be a prime target for Trump’s mass deportation plan. Elsewhere, Republican governors and lawmakers in some states are already rolling out proposals that could help him carry out his pledge to deport millions of people living in the U.S. illegally. ___ Izaguirre reported from Albany, N.Y. Anthony Izaguirre And Cedar Attanasio, The Associated Press
OneDigital Investment Advisors LLC lessened its position in Mitsubishi UFJ Financial Group, Inc. ( NYSE:MUFG – Free Report ) by 23.2% during the third quarter, Holdings Channel reports. The fund owned 10,176 shares of the company’s stock after selling 3,069 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Mitsubishi UFJ Financial Group were worth $104,000 as of its most recent filing with the Securities & Exchange Commission. Other hedge funds have also recently bought and sold shares of the company. Catalina Capital Group LLC grew its position in Mitsubishi UFJ Financial Group by 5.4% in the 2nd quarter. Catalina Capital Group LLC now owns 17,965 shares of the company’s stock worth $194,000 after purchasing an additional 918 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of Mitsubishi UFJ Financial Group by 5.1% during the second quarter. First Affirmative Financial Network now owns 19,463 shares of the company’s stock worth $210,000 after buying an additional 938 shares during the period. Waldron Private Wealth LLC grew its holdings in Mitsubishi UFJ Financial Group by 9.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 11,742 shares of the company’s stock worth $120,000 after buying an additional 968 shares in the last quarter. Traveka Wealth LLC increased its position in Mitsubishi UFJ Financial Group by 2.7% in the 2nd quarter. Traveka Wealth LLC now owns 37,775 shares of the company’s stock valued at $408,000 after acquiring an additional 980 shares during the period. Finally, LRI Investments LLC raised its stake in Mitsubishi UFJ Financial Group by 6.9% during the 2nd quarter. LRI Investments LLC now owns 15,156 shares of the company’s stock valued at $164,000 after acquiring an additional 981 shares in the last quarter. 13.59% of the stock is currently owned by institutional investors. Mitsubishi UFJ Financial Group Price Performance NYSE MUFG opened at $11.82 on Friday. The firm has a market capitalization of $137.79 billion, a PE ratio of 11.59, a P/E/G ratio of 1.09 and a beta of 0.59. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.91 and a quick ratio of 0.92. Mitsubishi UFJ Financial Group, Inc. has a 12 month low of $8.19 and a 12 month high of $12.11. The company’s 50 day simple moving average is $10.74 and its 200 day simple moving average is $10.56. Analyst Upgrades and Downgrades Get Our Latest Stock Analysis on MUFG Mitsubishi UFJ Financial Group Profile ( Free Report ) Mitsubishi UFJ Financial Group, Inc operates as the bank holding company, that engages in a range of financial businesses in Japan, the United States, Europe, Asia/Oceania, and internationally. It operates through seven segments: Digital Service, Retail & Commercial Banking, Japanese Corporate & Investment Banking, Global Commercial Banking, Asset Management & Investor Services, Global Corporate & Investment Banking, and Global Markets. See Also Want to see what other hedge funds are holding MUFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitsubishi UFJ Financial Group, Inc. ( NYSE:MUFG – Free Report ). Receive News & Ratings for Mitsubishi UFJ Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitsubishi UFJ Financial Group and related companies with MarketBeat.com's FREE daily email newsletter .
Investigators probing the cause of the worst civil aviation accident ever in South Korea will focus on a bird strike and the unusual landing-gear failure in the final moments of the fateful flight that left all but two of the 181 occupants of the Boeing Co. 737 jet dead. The 737-800 aircraft operated by Jeju Air Co. crashed at Muan International Airport on Sunday morning, skidding along the runway on its belly before smashing into a wall, where it exploded into a ball of fire. Only a pair of flight attendants survived. While the aircraft was almost entirely destroyed, investigators will have valuable data to work with as they reconstruct the event. One vital key will be a readout of the two flight recorders, which were already pulled from the wreckage, though one device is damaged and may need longer to analyze. Then there’s footage showing the aircraft during approach with one engine apparently flaming out, alongside videos of the plane coming in to the airport and sliding along the runway at high speed, appearing largely intact, before the impact with the embankment. The accident poses several unusual mysteries, and investigators have said it’s too soon to speculate what may have caused the crash. Mid-air bird strikes are rare but not entirely uncommon and seldom deadly because aircraft can operate on one engine for some time. Why the landing gear didn’t deploy also remains unclear, or indeed if there’s a link between that malfunction and the bird strike that was discussed between cockpit and control tower just before the landing. The pilot, considered an experienced captain with close to 7,000 hours of active duty, issued a mayday emergency call minutes after the control tower warned of a bird strike. He aborted his first landing, started a go-around and switched direction on the runway in his second attempt. The control tower granted clearance to land in the opposite direction, and officials said it’s unlikely that the runway length caused the crash. The Boeing 737 involved in the crash is a predecessor to the latest Max variant. It’s considered a reliable workhorse that passed routine maintenance checks, in a country with deep expertise for aircraft servicing. Around the world, there are more than 4,000 planes of its type in service. Even if one of the black boxes was damaged in the crash, the data storage units can often be reconstructed to aid the investigation. The fortified devices contain vital statistics and performance metrics of a flight, as well as taped conversations and sounds from the cockpit. Muan’s control tower warned of the risk of a bird strike at 8:57 a.m. local time, about two minutes before the pilot declared an emergency, officials said. The airport had four staffers working to prevent bird strikes at the time of the crash, including one outside the tower. Birds are an aviation hazard because they can be ingested into the turbine or damage other parts of the plane and cause engine failure. In 2009, an Airbus A320 landed in the Hudson River in New York after a bird strike damaged both engines, in what has become known as the “Miracle on the Hudson” because everyone on board survived. Jeju Air’s 15-year-old plane, registered HL8088, entered service with the carrier in 2017. It was initially delivered in 2009 to Irish discount airline Ryanair Holdings Plc, according to the Planespotters.net database. The jet was configured to seat as many as 189 passengers. Founded in 2005, Jeju Air operates 42 aircraft, according to its website. There was no sign of malfunction during regular maintenance checks, Kim E-Bae, chief executive officer of Jeju Air, said at a news briefing. The jet was returning from Bangkok overnight in a 41⁄2 hour flight. The plane, which YTN said had been chartered by a local travel agency for a Christmas holiday trip, previously left Muan for the Thai capital on Saturday evening. Muan is a small regional airport located in the country’s south that opened in 2007. It was built to help connect cities including Gwangju and Mokpo and increased its regular service of international flights this year, including those of Jeju Air. The two surviving flight attendants were taken to hospital, and one of the two survivors is in intensive care unit with a thoracic spine fracture, the doctor at the hospital said in a press briefing. Boeing said it’s in contact with Jeju Air and ready to offer support. Aircraft manufacturers typically send specialists to crash sites to aid an investigation. Recovery of the victims, some of whom were ejected from the aircraft after the impact, has been completed and salvage crews are now searching the wreckage for passengers’ belongings, Yonhap said. More than 1,500 people including police, military, coast guard and local government personnel are assisting at the crash site, the Ministry of Land, Infrastructure and Transport said. The airport’s runway will remain closed in coming days. The accident is the deadliest passenger airline disaster in South Korea to date, surpassing the fatality toll from an Air China plane crash near Busan in 2002 that killed 129 people, according to the Aviation Safety Network. The crash is also among the worst globally this decade. South Korea is currently experiencing a deepening political crisis after its president provoked public outrage by briefly imposing martial law earlier this month. Acting President Choi Sang-mok declared a week of mourning. The crash is the second major air disaster in less than a week. An incident in Russian airspace led to the crash of an Azerbaijan Airlines passenger aircraft on Dec. 25, killing dozens. After a year of not a single fatal accident among the 37 million commercial aircraft movements in 2023, this year has seen a rising number of cases. Early in January, an approaching Japan Airlines Co. Airbus A350 crashed into a small plane on a runway in Tokyo, killing five occupants in the stationary aircraft. A few days later, a door plug blew out of an airborne Boeing 737 Max 9 flying in the U.S. Though nobody was killed in that accident, the episode threw the U.S. planemaker into deep crisis because it exposed sloppy workmanship at the company. In August, a smaller ATR turboprop plane operated by Brazil’s VoePass crashed near Sao Paulo’s Guarulhos International Airport, killing 58 passengers and four crew members.
Vikings withstand Bears' furious rally, win on field goal in OTSierra Metals Announces Special Meeting of Shareholders for Proposed Share ConsolidationPLANO, Texas--(BUSINESS WIRE)--Dec 12, 2024-- Upbound Group, Inc. (“Upbound” or the “Company”) (NASDAQ: UPBD), a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers, today announced it has entered into a definitive agreement to acquire Brigit, a leading financial health technology company, for total consideration of up to $460 million consisting of cash and shares of Upbound common stock. This transaction is a logical next step reflecting Upbound’s strategic focus on expanding its technology-driven financial solutions for consumers who are underserved by the traditional financial system. Brigit, which offers a subscription-based model, was launched nationally in 2019 to expand financial inclusion and help consumers build a brighter financial future. It is consistently ranked among the most downloaded financial health apps and is a recognized leader in innovation in the industry. Built on proprietary artificial intelligence and machine learning-powered cash flow data insights, Brigit’s core product is its direct-to-consumer Instant Cash advance product (earned wage access or EWA) which has saved its users approximately $1 billion in overdraft fees since inception 2. Brigit also offers a credit builder product that helps its subscribers build their credit history over time as they increase their savings, as well as financial wellness solutions and educational resources to help consumers better manage, save, and earn money. Brigit currently serves nearly two million monthly active customers, including over one million active paying subscribers and almost one million free subscribers. Their customers are highly engaged, with paid users logging in on average six times per month. The business is expected to generate revenues of approximately $215 million to $230 million in 2025 and approximately $350 million to $400 million in 2026. Brigit will expand Upbound’s offerings of innovative and flexible financial solutions, positioning the combined company to create an industry-leading technology platform for the financially underserved that meets the consumer wherever they are on their financial journey. In addition, Brigit’s proprietary data and sophisticated tech stack are expected to enhance Upbound’s existing brands, including Acima and Rent-A-Center (RAC), by improving risk management and fraud prevention, enabling more customer approvals while also mitigating net losses and enhancing account management. The combined company’s data-driven insights will create a more personalized customer experience with the ability to deliver, at the right time and through the right channels, a wider range of targeted solutions for consumers. Upbound expects these enhancements to boost conversion rates, lower churn, and increase customer loyalty and engagement. “We are thrilled to welcome Brigit, a company whose mission and target customer base are closely aligned with ours, into our family of brands,” said Upbound’s Chief Executive Officer Mitch Fadel. “Creating a financial solutions platform with Brigit as the backbone expands our addressable market and enables Upbound to innovate across even more product categories to improve the financial health of our customers. The ability to add new products for our customers beyond lease-to-own is an important part of our strategy and now we can offer liquidity solutions, budgeting, credit building, financial literacy and savings. We believe this transaction will position Upbound for accelerated growth, with greater scale and a more diversified financial profile, ultimately driving long-term value for our shareholders.” “Brigit has helped everyday Americans build a brighter financial future through a suite of innovative financial products that leverage cutting-edge cash flow technology,” said Brigit cofounder & CEO Zuben Mathews. “This transaction is a testament to our team’s continued passion for helping the underserved and our dedication to innovation. By combining forces with Upbound, we can accelerate our impact and better serve the millions of Americans who have been historically underserved by traditional financial institutions. Together, we are excited to widen our reach and bring financial freedom to even more people in need.” Brigit founders Zuben Mathews and Hamel Kothari will continue to lead the Brigit team as a business segment of Upbound. Brigit will continue to operate under its existing branding and will retain its headquarters in New York City, which is expected to serve as one of Upbound’s innovation hubs. Transaction Details Upbound is acquiring Brigit for up to $460 million, comprised of (1) $325 million payable at closing, 75% in cash and 25% in Upbound shares; (2) $75 million in deferred cash consideration over two years; and (3) a potential earnout of up to $60 million in cash based on achievement of certain financial performance metrics for the Brigit business in 2026. Upbound will fund the transaction through a combination of cash on hand, borrowing capacity under its $550 million revolving credit facility, and issuance of new shares of Upbound common stock to Brigit stockholders. The integration of Brigit’s all-digital, scalable platform is expected to expand Upbound’s addressable market outside of durable goods and enhance its strong financial profile while adding an additional complementary growth segment. With approximately 80% recurring subscription revenue, and an estimated total revenue growth in 2024 of 40% to 50% compared to 2023 with similar expectations in 2025, Upbound believes the transaction will accelerate its growth and is expected to be neutral to non-GAAP EPS in year one and meaningfully accretive to non-GAAP EPS in year two and beyond. Brigit will diversify Upbound’s revenue/Adjusted EBITDA mix; within the next four years, Upbound expects approximately two-thirds of revenue and Adjusted EBITDA 3 will be derived from virtual and digital platforms. Following the transaction, Upbound expects pro forma net leverage ratio of approximately 3x 4 and pro forma available liquidity of nearly $300 million 5. Upbound continues to target leverage of approximately 2x over the long-term. The acquisition is expected to close in Q1 2025, subject to receipt of requisite regulatory approvals and satisfaction of other customary closing conditions. Advisors Greenhill & Co. Inc. is acting as financial advisor to Upbound, Sullivan & Cromwell LLP and Mayer Brown LLP are acting as its legal counsel. FT Partners is acting as financial advisor to Brigit and Cooley LLP and Morgan Lewis & Bockius LLP are acting as its legal counsel. Investor Conference Call Details Upbound will host a conference call on Friday, December 13, 2024, at 9:00 am (ET) to discuss this transaction. Interested parties can access a live webcast of the conference call via this link or through the Company's investor relations website. About Upbound Group, Inc. Upbound Group, Inc. (NASDAQ: UPBD), is a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers. The Company’s customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,300 company branded retail units across the United States, Mexico and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about the Company, please visit our website Upbound.com . About Brigit Brigit is a holistic financial health app that has helped millions of Americans budget better, get their earned wages early, build their credit through savings, protect themselves from identity theft, and find ways to earn and save money. Its mission is to help everyday Americans build a better financial future. Brigit is backed by Lightspeed, DCM, Nyca, Flourish Ventures, Hummingbird VC, DN Capital, Will Smith, Kevin Durant, and other prominent investors. Cautionary Note Regarding Forward-Looking Statements This press release and the associated investor presentation and webcast contain forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "should," "anticipate," "believe," or “confident,” or the negative thereof or variations thereon or similar terminology and include, among others, statements concerning (a) the anticipated benefits of the proposed transaction, (b) the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, (c) the anticipated closing date for the proposed transaction, (d) other aspects of both companies’ operations and operating results, and (e) our goals, plans and projections with respect to our operations, financial position and business strategy. However, there can be no assurance that such expectations will occur. The Company's actual future performance could differ materially and adversely from such statements. Factors that could cause or contribute to such material and adverse differences include, but are not limited to: (1) risks relating to the proposed transaction, including (i) the inability to obtain regulatory approvals required to consummate the transaction with Brigit on the terms expected, at all or in a timely manner, (ii) the impact of the additional debt on the Company’s leverage ratio, interest expense and other business and financial impacts and restrictions due to the additional debt, (iii) the failure of conditions to closing the transaction and the ability of the parties to consummate the proposed transaction on a timely basis or at all, (iv) the failure of the transaction to deliver the estimated value and benefits expected by the Company, (v) the incurrence of unexpected future costs, liabilities or obligations as a result of the transaction, (vi) the effect of the announcement of the transaction on the ability of the Company or Brigit to retain and hire necessary personnel and maintain relationships with material commercial counterparties, consumers and others with whom the Company and Brigit do business, (vii) the ability of the Company to successfully integrate Brigit’s operations over time, (viii) the ability of the Company to successfully implement its plans, forecasts and other expectations with respect to Brigit’s business after the closing and (ix) other risks and uncertainties inherent in a transaction of this size and nature, (2) the general strength of the economy and other economic conditions affecting consumer preferences, demand, payment behaviors and spending; (3) factors affecting the disposable income available to the Company's and Brigit’s current and potential customers; (4) the appeal of the Company’s and Brigit’s offerings to consumers; (5) the Company's and Brigit’s ability to protect their proprietary intellectual property; (6) the impact of the competitive environment in the Company’s and Brigit’s industries; (7) the Company's and Brigit’s ability to identify and successfully market products and services that appeal to their current and future targeted customer segments; (8) consumer preferences and perceptions of the Company's and Brigit’s brands; (9) the Company’s and Brigit’s compliance with applicable laws and regulations and the impact of active enforcement of those laws and regulations, including any changes with respect thereto or attempts to recharacterize their offerings as credit sales, (10) information technology and data security costs; (11) the impact of any breaches in data security or other disturbances to the Company's or Brigit’s information technology and other networks and the Company's and Brigit’s ability to protect the integrity and security of individually identifiable data of its customers and employees; and (12) the other risks detailed from time to time in the Company's SEC reports, including but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2023 and in its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Non-GAAP Financial Measures This release and the associated investor presentation and webcast contain certain financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including (1) Adjusted EBITDA (net earnings before interest, taxes, stock-based compensation, depreciation and amortization, as adjusted for special items) on a consolidated and segment basis and (2) Net Leverage Ratio (total debt less unrestricted cash, divided by Adjusted EBITDA). “Special items” refers to certain gains and charges we view as extraordinary, unusual or non-recurring in nature or which we believe do not reflect our core business activities. Special items are reported as Other Gains and Charges in our Consolidated Statements of Operations. Because of the inherent uncertainty related to these special items, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measures or reconciliation to any forecasted GAAP measure without unreasonable effort. These non-GAAP measures are additional tools intended to assist our management in comparing our performance on a more consistent basis for purposes of business decision-making by removing the impact of certain items management believes do not directly reflect our core operations. These measures are intended to assist management in evaluating operating performance and liquidity, comparing performance and liquidity across periods, planning and forecasting future business operations, helping determine levels of operating and capital investments and identifying and assessing additional trends potentially impacting our Company that may not be shown solely by comparisons of GAAP measures. Consolidated Adjusted EBITDA is also used as part of our incentive compensation program for our executive officers and others. We believe these non-GAAP financial measures also provide supplemental information that is useful to investors, analysts and other external users of our consolidated financial statements in understanding our financial results and evaluating our performance and liquidity from period to period. However, non-GAAP financial measures have inherent limitations and are not substitutes for, or superior to, GAAP financial measures, and they should be read together with our consolidated financial statements prepared in accordance with GAAP. Further, because non-GAAP financial measures are not standardized, it may not be possible to compare such measures to the non-GAAP financial measures presented by other companies, even if they have the same or similar names. ______________________________ 1 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 2 Assumes all Brigit’s cash advances since inception have assisted customers with avoiding overdraft fees at an estimated $34/overdraft. 3 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 4 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 5 Pro forma net leverage ratio (total debt less unrestricted cash, divided by Adjusted EBITDA) and pro forma available liquidity (estimated available borrowings under the company’s revolving credit facility and unrestricted cash) assume the acquisition of Brigit is completed March 31, 2025 and the Company makes the closing date cash payment at that time. Above metrics reflect the Company’s estimates and are not reflective of actual amounts or indicative of future results. View source version on businesswire.com : https://www.businesswire.com/news/home/20241212082702/en/ CONTACT: Investor Contact Jeff Chesnut SVP, Strategy & Corporate Development 972-801-1108 jeff.chesnut@upbound.comMedia Contacts Kelly Kimberly 713-822-7538 Kelly.kimberly@fgsglobal.com Leah Polito 212-687-8080 Leah.polito@fgsglobal.com KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY FINANCE FINTECH HEALTH TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE HEALTH DATA MANAGEMENT SOURCE: Upbound Group, Inc. Copyright Business Wire 2024. PUB: 12/12/2024 05:00 PM/DISC: 12/12/2024 05:00 PM http://www.businesswire.com/news/home/20241212082702/en
Former President Jimmy Carter dies at 100
Qatar tribune Agencies European Union rules requiring all new smartphones, tablets and cameras to use the universal type of charger came into force on Saturday, in a change Brussels said will cut costs and waste. Manufacturers are now obliged to fit devices sold in the 27-nation bloc with a USB-C, the port chosen by the EU as the common standard for charging electronic tools.“Starting today, all new mobile phones, tablets, digital cameras, headphones, speakers, keyboards and many other electronics sold in the EU will have to be equipped with a USB Type-C charging port,” the EU Parliament wrote on social media X. The EU has said the single charger rule will simplify the lives of Europeans and slash costs for consumers.Allowing consumers to purchase a new device without a new charger will also reduce the mountain of obsolete chargers, the bloc has argued. The law was first approved in 2022 following a tussle with U.S. tech giant Apple. It allowed companies until Dec. 28 this year to adapt. Makers of laptops will have extra time, from early 2026, to also follow suit. Most devices already use these cables, but Apple was more than a little reluctant.The firm said in 2021 that such regulation “stifles innovation,” but by September last year, it had begun shipping phones with the new port. Makers of electronic consumer items in Europe had agreed on a single charging norm from dozens on the market a decade ago under a voluntary agreement with the European Commission.But Apple, the world’s biggest seller of smartphones, refused to abide by it and ditch its Lightning ports. Other manufacturers kept their alternative cables going, meaning there were about half a dozen types knocking around, creating a jumble of cables for consumers. USB-C ports can charge at up to 100 Watts, transfer data up to 40 gigabits per second, and serve to hook up to external displays. At its approval, the commission said the law was expected to save at least 200 million euros ($208 million) annually and reduce more than 1,000 tons of EU electronic waste. “It’s time for THE charger,” the European Commission wrote on X on Saturday. “It means better-charging technology, reduced e-waste and less fuss to find the chargers you need.” Copy 30/12/2024 10
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