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The board told Mr Pat Gelsinger he could retire or be removed, and he chose to step down, according to the source. SAN FRANCISCO - Intel chief executive Pat Gelsinger has been forced out less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement. Mr Gelsinger, who resigned on Dec 1, left after a board meeting last week during which directors felt Mr Gelsinger’s costly and ambitious plan to turn Intel around was not working and the progress of change was not fast enough, according to a person familiar with the matter. The board told Mr Gelsinger he could retire or be removed, and he chose to step down, according to the source. His departure comes well before the completion of his four-year roadmap to restore the company’s lead in making the fastest and smallest computer chips, a crown it lost to Taiwan Semiconductor Manufacturing Co, which makes chips for Intel rivals such as Nvidia. Under Mr Gelsinger’s watch, Intel, which was founded in 1968 and for decades formed the bedrock of Silicon Valley’s global dominance in chips, has withered to a market value more than 30 times smaller than Nvidia, the leader in artificial intelligence chips. Bloomberg earlier reported on the circumstances surrounding Mr Gelsinger’s retirement. Mr Gelsinger, 63, has assured both investors and US officials, who are subsidising Intel’s turnaround, that his manufacturing plans remain on track. But the full results will not be known until 2025, when the company aims to bring a flagship laptop chip back into its own factories. Shares of the company rose 4.1 per cent. The stock has lost more than half of its value in 2024, and it was replaced in November by Nvidia on the blue-chip Dow Jones Industrial Average index. The company named chief financial officer David Zinsner and senior executive Michelle Johnston Holthaus as interim co-chief executive officers while its board conducted a search for a new CEO. The moves come less than a week after US officials gave US$7.86 billion (S$10.52 billion) in subsidies to Intel. The board has formed a search committee for Mr Gelsinger’s successor. “While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence,” Mr Frank Yeary, independent chair of the board, said in a release. Intel’s communications chief Karen Kahn is also planning to leave the company, according to two people with knowledge of the situation. Spending spree Mr Gelsinger announced his turnaround plan in July 2021, when the company was already troubled by years of missteps in its manufacturing operations, and then embarked on a spending spree. It started construction on a US$20 billion suite of new factories in Ohio and hiring a larger workforce - at 132,000 - than Intel had ever maintained even during its days as the biggest player in the chip business. But the spending coincided with a post-pandemic collapse in the market for laptops and PCs, which in turn sank Intel’s gross margins well below historical norms and depressed its stock price, sparking takeover interest in the company. The spending eventually forced Mr Gelsinger to come up with a menu of layoffs and potential sales and spinouts of assets. “The stock lost more than 60 per cent under his tenure, so this shouldn’t have come as a very big surprise,” said Mr Ryan Detrick, chief market strategist for investment advisory firm Carson Group. “New leadership is needed to turn things around and it is safe to say that any of his major strategic decisions are on the chopping board, including the move to focus on being a contract manufacturer.” Mr Gelsinger also failed to field an effective AI chip challenger to Nvidia, which began its march toward becoming a US$3 trillion company by powering services such as ChatGPT. “At the end of the day, you need leading-edge products, innovation, and execution, none of which we saw during Pat Gelsinger’s reign,” said analyst Hans Mosesmann at Rosenblatt Securities. Mr Gelsinger’s turnaround plan centred on Intel becoming a major player in contract manufacturing for others, a business model called a “foundry” in the chip industry. Intel has announced a handful of foundry customers such as Microsoft and Amazon.com, but neither would bring to Intel’s factories the huge volumes of chips needed to ensure the factories’ profitability. The spending spree, coupled with the lack of tangible progress in the company’s foundry, created tension on the board of directors, causing Lip-Bu Tan, a board member who himself had turned around a faltering firm in the chip industry, to leave over disagreements with Mr Gelsinger’s strategy. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel nowNEW YORK (AP) — Edmonton Oilers forward Jeff Skinner during a recent game against the New York Rangers, the NHL said Monday. Skinner was issued a warning after a diving/embellishment incident in against the Carolina Hurricanes, the league said. His second citation, which triggered the fine, came in the second period of on Nov. 23. Skinner was being followed by Rangers defenseman K’Andre Miller as he had the puck along the boards in the New York zone. Skinner lost his footing and the puck despite minimal contact from Miller. The Oilers forward looked toward the referee as he got up but no penalty call was made on the play. The money goes to the Players’ Emergency Assistance Fund. AP NHL:

Scotland captain Tuipulotu is ready to beat the freeze and the Aussies Click here to visit the Scotland home page for the latest news and sport By CALUM CROWE Published: 17:30 EST, 23 November 2024 | Updated: 17:30 EST, 23 November 2024 e-mail View comments Scotland captain Sione Tuipulotu insists they will be ready to battle through any further snowfall when they take on a red-hot Australia side at Murrayfield on Sunday. The awful weather brought much of the country to a standstill yesterday, causing travel chaos whilst having a huge impact on sporting fixtures. Gregor Townsend ’s side trained at Murrayfield on Saturday morning, braving the wintery conditions as they prepared to host the Wallabies on Sunday. Weather warnings remain in place and there is a chance that the players will have to face more freezing temperatures in this Autumn Test series finale. Tuipulotu warned of the danger posed by the rampant Aussies, who have scored 13 tries over the past fortnight in victories over England and Wales. The Scotland captain admitted the Wallabies are arguably the form team in this Autumn series, but feels that more adverse weather could help cool their attacking threat. Sione Tuipulotu trains at snowy Murrayfield ahead of Sunday's clash with Australia Scotland players prepare for Australia's visit to Murrayfield on Sunday ‘When they (the Australians) looked out the window this morning, I’m sure they were like: “Well, let’s hope that doesn’t stick around”. So we’ll have to wait and see what it’s like on game-day,’ said Tuipulotu. ‘We were out there training in it. To be fair, it’s ankle-deep. But Gregor still wanted us down and presenting the ball. ‘When I looked out the window this morning, it was a bit of a surprise when I saw how much snow was falling down. ‘But we’re used to it now. And I’ve played in a couple of snow games in Scotland. I know the forecast says it’s supposed to clear up. But I would assume that we’re more prepared for a snow game than the Australians.’ Click here to visit the Scotland home page for the latest news and sport Advertisement The Wallabies have looked reborn under head coach Joe Schmidt over these past few weeks, beating England at Twickenham before destroying Wales in Cardiff last weekend. A native of Melbourne when he was growing up, Tuipulotu knows a lot of the Aussie players and isn’t surprised at the way they have turned it around following a difficult few years. ‘They look like a really good team,’ he said. ‘In terms of being surprised, not really, because I know those players, and I know how talented they are. ‘I suppose they’ve landed a very good coach in Joe Schmidt and he’s got them firing. ‘The talent is there to play that brand of rugby. It’s quite similar to ours, to be honest, so it makes for a pretty good game. ‘They have progressed well since the Rugby Championship and that’s really good to see. ‘They’re a very dangerous team. They’ve beaten two teams that we also beat last year in the Six Nations, so we’re pretty well matched up against them.’ Sione Tuipulotu with his gran Jaqueline Thomson and brother Mosese Tuipulotu insists he won’t get caught up in the extra emotion of the game against the country where he grew up. He’s delighted that his grandma, Jaqueline, has travelled over to watch him play for Scotland for the first time. Jaqueline Thomson flew from Australia earlier this week and shocked Sione and his brother Mosese when she appeared to greet them in the dressing room at Murrayfield. Born in Greenock before moving to Melbourne, Thomson, 77, is the reason why the Tuipulotu brothers qualify to play for Scotland. ‘I know the media think it’s a massive game for me because I’m going back to play the Wallabies, the system that I grew up playing in,’ said Tuipulotu. ‘But I’m just not making it bigger than it already is. ‘With my gran coming over this week, that’s been so special.’ Share or comment on this article: Scotland captain Tuipulotu is ready to beat the freeze and the Aussies e-mail Add comment

Sean ‘Diddy’ Combs’ third bid to be released on bail won’t be decided until next week

DENVER — Amid renewed interest in the killing of JonBenet Ramsey triggered in part by a new Netflix documentary, police in Boulder, Colorado, refuted assertions this week that there is viable evidence and leads about the 1996 killing of the 6-year-old girl that they are not pursuing. JonBenet Ramsey, who competed in beauty pageants, was found dead in the basement of her family's home in the college town of Boulder the day after Christmas in 1996. Her body was found several hours after her mother called 911 to say her daughter was missing and a ransom note was left behind. The gravesite of JonBenet Ramsey is covered with flowers Jan. 8, 1997, at St. James Episcopal Cemetery in Marietta, Ga. JonBenet was bludgeoned and strangled. Her death was ruled a homicide, but nobody was ever prosecuted. The details of the crime and video footage of JonBenet competing in pageants propelled the case into one of the highest-profile mysteries in the United States. The police comments came as part of their annual update on the investigation, a month before the 28th anniversary of JonBenet's killing. Police said they released it a little earlier due to the increased attention on the case, apparently referring to the three-part Netflix series "Cold Case: Who Killed JonBenet Ramsey." In a video statement, Boulder Police Chief Steve Redfearn said the department welcomes news coverage and documentaries about the killing of JonBenet, who would have been 34 this year, as a way to generate possible new leads. He said the department is committed to solving the case but needs to be careful about what it shares about the investigation to protect a possible future prosecution. "What I can tell you though, is we have thoroughly investigated multiple people as suspects throughout the years and we continue to be open-minded about what occurred as we investigate the tips that come in to detectives," he said. The Netflix documentary focuses on the mistakes made by police and the "media circus" surrounding the case. A police officer sits in her cruiser Jan. 3, 1997, outside the home in which 6-year-old JonBenet Ramsey was found murdered Dec. 26, 1996, in Boulder, Colo. Police were widely criticized for mishandling the early investigation into her death amid speculation that her family was responsible. However, a prosecutor cleared her parents, John and Patsy Ramsey, and brother Burke in 2008 based on new DNA evidence from JonBenet's clothing that pointed to the involvement of an "unexplained third party" in her slaying. The announcement by former district attorney Mary Lacy came two years after Patsy Ramsey died of cancer. Lacy called the Ramseys "victims of this crime." John Ramsey continued to speak out for the case to be solved. In 2022, he supported an online petition asking Colorado's governor to intervene in the investigation by putting an outside agency in charge of DNA testing in the case. In the Netflix documentary, he said he advocated for several items that were not prepared for DNA testing to be tested and for other items to be retested. He said the results should be put through a genealogy database. In recent years, investigators identified suspects in unsolved cases by comparing DNA profiles from crime scenes and to DNA testing results shared online by people researching their family trees. In 2021, police said in their annual update that DNA hadn't been ruled out to help solve the case, and in 2022 noted that some evidence could be "consumed" if DNA testing is done on it. Last year, police said they convened a panel of outside experts to review the investigation to give recommendations and determine if updated technologies or forensic testing might produce new leads. In the latest update, Redfearn said that review ended but police continue to work through and evaluate a "lengthy list of recommendations" from the panel. Receive the latest in local entertainment news in your inbox weekly!U.S. President-elect Donald Trump and the head of NATO have met for talks on global security, the military alliance said Saturday. In a brief statement, NATO said Trump and its secretary general, Mark Rutte, met on Friday in Palm Beach, Florida. “They discussed the range of global security issues facing the Alliance,” the statement said without giving details. RELATED STORY | Trump appearance at SpaceX launch reinforces Musk's relationship with the president-elect It appeared to be Rutte's first meeting with Trump since his Nov. 5 election. Rutte had previously congratulated Trump and said “his leadership will again be key to keeping our Alliance strong" and that he looked forward to working with him. Trump has for years expressed skepticism about the Western alliance and complained about the defense spending of many of its member nations, which he regarded as too low. He depicted NATO allies as leeches on the U.S. military and openly questioned the value of the alliance that has defined American foreign policy for decades. He threatened not to defend NATO members that fail to meet defense-spending goals. Rutte and his team also met Trump's pick as national security adviser, U.S. Rep. Michael Waltz, and other members of the president-elect's national security team, the NATO statement said. RELATED STORY | New details emerge about the Department of Government Efficiency's proposed cuts Rutte took over at the helm of NATO in October.Agrochemicals Market Poised for Significant Growth, Projected to Reach $282.2 Billion by 2028

Hezbollah attack draws Israeli strikes on Lebanon, killing 11 people and testing ceasefire's limits

A train is due to arrive at the nation's busiest railway station five years late. Login or signup to continue reading After years of delays and disputes, the first service using a new fleet of intercity trains is due to pull in to Sydney's Central station shortly before 11am. The train left Newcastle at 8.21am on Tuesday - about five years after the first sets were originally due to enter service in NSW. The Korean-built trains were too wide to fit through some tunnels, too long for some platforms and faced opposition from the Rail, Tram and Bus Union due to plans for drivers to monitor platforms using CCTV, reducing staffing requirements. An agreement was eventually reached with the union after a long dispute with the former coalition government and modifications were made locally beginning in August 2023. Transport Minister Jo Haylen said it should not have taken so long for the trains to enter service, but they were finally taking passengers along the Newcastle and Central Coast lines. Passengers along the Blue Mountains, Illawarra and South Coast lines will have to wait a while longer, but Ms Haylen said it would be worth it. "These state-of-the-art trains will make travel between Sydney and our regional cities safer and more comfortable," she said. The trains are due to replace rolling stock that entered service almost five decades earlier. Early renders of the trains featured "NSW TrainLink" branding, which is being abolished as its operations merge with Sydney Trains. Sydney Trains chief executive Matt Longland said getting the trains on the tracks was an incredibly complex project. "But we are pleased we have been able to work with the unions to locally modify these trains and get them into service," he said. "The Mariyung trains are quieter and roomier and will provide our passengers with a much improved and more comfortable travelling experience for decades to come." The electric trains, also known as the "D Set", have been given the name Mariyung after the Darug language word for emu. They will feature artwork from Indigenous artist Leanne Mulgo Watson. Australian Associated Press DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Get the latest property and development news here. 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Fresh daily!PITTSBURGH , Dec. 2, 2024 /PRNewswire/ -- The Board of Directors of Wesco International (NYSE: WCC) today declared a quarterly cash dividend on all of the issued and outstanding shares of common stock, in an amount equal to $0.4125 per share. The dividend is payable on December 31, 2024 to the holders of record of the common stock at the close of business on December 13, 2024 . In addition, the Board of Directors declared cash dividends on the company's 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock for the period October 1, 2024 through December 31, 2024 . The dividend is $664.0625 per preferred share, or $0.6640625 per depository share, and is payable on December 31, 2024 to holders of record at the close of business on December 13, 2024 . About Wesco Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania , Wesco is a FORTUNE 500 ® company with $22 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry's premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations. Contact Information Investor Relations Will Ruthrauff Director, Investor Relations 484-885-5648 Corporate Communications Jennifer Sniderman Vice President, Corporate Communications 717-579-6603 View original content to download multimedia: https://www.prnewswire.com/news-releases/wesco-declares-quarterly-dividend-on-common-stock-and-preferred-stock-302319822.html SOURCE Wesco International

Wales will become the first part of the UK to use automatic voter registration when pilots get underway next month. Jayne Bryant, Wales’ local government secretary, said Carmarthenshire, Gwynedd, Newport and Powys will pilot automatic registration between December 2024 and September 2025. She told the Senedd that the Electoral Commission will evaluate the pilots before a wider roll out, with an estimated 400,000 people set to be added to the register in Wales. Ms Bryant suggested UK Government colleagues will be watching closely, with Labour committed to following Wales’ lead to add millions more people to the electoral roll. Responding to the statement about elections on November 19, the Conservatives’ Darren Millar questioned whether automatic registration will lead to an increase in engagement. He said: “I don't actually think it's going to deliver a significant change in the turnout figures.” But Plaid Cymru’s Peredur Owen Griffiths supported the “simple” measure, arguing it will make participating in Senedd and council elections more accessible for everyone. He said: “It will ensure that people in Wales, particularly young voters and qualifying foreign citizens, remain on the electoral roll without the risk of unknowingly dropping off. It will also help enfranchise groups that are often under-represented and under-engaged in politics.” Mr Millar also raised alarm about the “shocking” state of town and community councils after a report warned challenges threaten the very foundation of local democracy. Ms Bryant said the Welsh Government would consider any necessary reforms of town and community councils following an ongoing Senedd local government committee inquiry. Turning to principal councils, she said ministers gave local authorities the option to choose between first past the post and the single transferable vote (STV) electoral systems in 2021. Owen Griffiths urged the Welsh Government to introduce a proportional system for council elections by 2032 to bring Wales in line with Scotland and Northern Ireland. Mr Griffiths also raised concerns about voter ID requirements introduced by the previous UK Government, saying: “These requirements, rather than protecting democracy, risked undermining it by creating unnecessary barriers for citizens to engage in politics.” Ms Bryant assured Senedd members that the Welsh Government remains committed to not introducing voter ID for devolved elections.

Despite more baby boomers becoming retirement age, the Social Security Administration has seen a drop in beneficiaries of certain kinds of Social Security payments each month. Supplemental Security Income, or SSI, is a benefits program available to people with disabilities as well as older adults with little to no income. According to recent SSI data, 7.43 million Americans were receiving SSI checks in January. By October, that number had declined to 7.41 million, showing an overall decline of roughly 200,000. Alex Beene, financial literacy instructor for the University of Tennessee at Martin, said in general, fewer people are enrolling in and receiving Social Security disability payments. "The higher cost of living combined with more inclusive working environments from employers eager to get more employees under their umbrella could be playing a role," Beene told Newsweek. "For seniors, we're seeing increasing numbers of Baby Boomers who are retiring, but we're also seeing a surge in those in that age group sticking in the workforce for a few more years and delaying tapping into their benefits. Social Security was once looked at as a blessing of retirement, but with costs dramatically higher for most Americans, it's easy to see why some are forgoing or waiting on them." Michael Ryan, finance expert and founder of michaelryanmoney.com, said the shift can be explained by several factors. While baby boomers are retiring these days, they're also reimagining retirement, with many creating "encore careers" even into their late 60s and 70s. "Improved healthcare and lifestyle changes mean people aren't just living longer—they're staying professionally active longer," Ryan told Newsweek . "The average 65-year-old today can expect to live another 20 years, creating unprecedented opportunities for continued workforce employment." Challenging the traditional retirement narrative, other seniors remain easily employed in remote work or have flexible consulting roles. There are financial benefits to waiting until later for retirement as well. At that point, your Social Security check will be higher. In 2024, those who retired at 70 saw a maximum monthly benefit of $4,873. That's compared to those who retired at age 62 in 2024, who see a maximum benefit of only $2,710. Even as fewer people earn SSI payments, the Social Security Administration faces a funding crisis. Analysts have estimated that the fund for full payments will run out by the early 2030s if nothing changes. "For policymakers, the message is clear: traditional retirement models are obsolete," Ryan said. "We need new strategies addressing workforce integration, financial education, and social support for an aging population."