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ALTOONA, Pa. (AP) — The suspect in the killing of UnitedHealthcare’s CEO struggled with deputies and shouted Tuesday while arriving for a court appearance in Pennsylvania, a day after he was arrested at a McDonald’s and charged with murder. Luigi Nicholas Mangione emerged from a patrol car, spun toward reporters and shouted something partly unintelligible referring to an “insult to the intelligence of the American people” while deputies pushed him inside. Prosecutors were beginning to take steps to bring Mangione back to New York to face a murder charge while new details emerged about his life and how he was captured. The 26-year-old Ivy League graduate from a prominent Maryland real estate family was charged with murder hours after he was arrested in the Manhattan killing of Brian Thompson , who led the United States’ largest medical insurance company. At the brief hearing, defense lawyer Thomas Dickey informed the court that Mangione would not waive extradition to New York but instead wants a hearing on the issue. He has 14 days to challenge detention. Mangione, wearing an orange prison jumpsuit, mostly stared straight ahead at the hearing, occasionally consulting papers, rocking in his chair or looking back at the gallery. At one point, he began to speak to respond to the court discussion but was quieted by his lawyer. Mangione likely was motivated by his anger with what he called “parasitic” health insurance companies and a disdain for corporate greed, a law enforcement bulletin obtained by The Associated Press said. He wrote that the U.S. has the most expensive health care system in the world and that profits of major corporations continue to rise while “our life expectancy” does not, according to the bulletin, based on a review of his hand-written notes and social media posts. Mangione called “Unabomber” Ted Kaczynski a “political revolutionary” and may have found inspiration from the man who carried out a series of bombings while railing against modern society and technology, according to police bulletin. Mangione remained jailed in Pennsylvania, where he was initially charged with possession of an unlicensed firearm, forgery and providing false identification to police. Manhattan prosecutors have obtained an arrest warrant, a step that could help expedite his extradition from Pennsylvania. Mangione was arrested in Altoona, Pennsylvania — about 230 miles (about 370 kilometers) west of New York City — after a McDonald's customer recognized him and notified an employee, authorities said. Officers found him sitting at a back table, wearing a blue medical mask and looking at a laptop, according to a Pennsylvania police criminal complaint. He initially gave them a fake ID, but when an officer asked Mangione whether he’d been to New York recently, he “became quiet and started to shake,” the complaint says. When he pulled his mask down at officers' request, “we knew that was our guy,” rookie Officer Tyler Frye said. Images of Mangione released Tuesday by Pennsylvania State Police showed him pulling down his mask in the corner of the McDonald's while holding what appeared to be hash browns and wearing a winter jacket and beanie. In another photo from a holding cell, he stood unsmiling with rumpled hair. New York Police Commissioner Jessica Tisch said Mangione was carrying a gun like the one used to kill Thompson and the same fake ID the shooter had used to check into a New York hostel, along with a passport and other fraudulent IDs. NYPD Chief of Detectives Joseph Kenny said Mangione also had a three-page, handwritten document that shows “some ill will toward corporate America." A law enforcement official who wasn’t authorized to discuss the investigation publicly and spoke with The Associated Press on condition of anonymity said the document included a line in which Mangione claimed to have acted alone. “To the Feds, I’ll keep this short, because I do respect what you do for our country. To save you a lengthy investigation, I state plainly that I wasn’t working with anyone,” the document said, according to the official. It also had a line that said, “I do apologize for any strife or traumas but it had to be done. Frankly, these parasites simply had it coming.” Pennsylvania prosecutor Peter Weeks said in court that Mangione was found with a passport and $10,000 in cash, $2,000 of it in foreign currency. Mangione disputed the amount. Thompson, 50, was killed Wednesday as he walked alone to a Manhattan hotel for an investor conference. Police quickly came to see the shooting as a targeted attack by a gunman who appeared to wait for Thompson, came up behind him and fired a 9 mm pistol. Investigators have said “delay,” “deny” and “depose” were written on ammunition found near Thompson's body. The words mimic “delay, deny, defend,” a phrase used to criticize the insurance industry . From surveillance video, New York investigators determined the shooter quickly fled the city, likely by bus. A grandson of a wealthy, self-made real estate developer and philanthropist, Mangione is a cousin of a current Maryland state legislator. Valedictorian at his elite Baltimore prep school, he went on to earn undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a spokesperson said. “Our family is shocked and devastated by Luigi’s arrest,” Mangione’s family said in a statement posted on social media late Monday by his cousin, Maryland Del. Nino Mangione. “We offer our prayers to the family of Brian Thompson and we ask people to pray for all involved.” From January to June 2022, Luigi Mangione lived at Surfbreak, a “co-living” space at the edge of touristy Waikiki in Honolulu. Like other residents of the shared penthouse catering to remote workers, Mangione underwent a background check, said Josiah Ryan, a spokesperson for owner and founder R.J. Martin. “Luigi was just widely considered to be a great guy. There were no complaints,” Ryan said. "There was no sign that might point to these alleged crimes they’re saying he committed.” At Surfbreak, Martin learned Mangione had severe back pain from childhood that interfered with many aspects of his life, from surfing to romance, Ryan said. Mangione left Surfbreak to get surgery on the mainland, Ryan said, then later returned to Honolulu and rented an apartment. Martin stopped hearing from Mangione six months to a year ago. ___ Scolforo reported from Altoona and Hollidaysburg, Pennsylvania. Contributing were Associated Press writers Cedar Attanasio and Jennifer Peltz in New York; Michael Rubinkam and Maryclaire Dale in Pennsylvania; Lea Skene in Baltimore; and Jennifer Sinco Kelleher in Honolulu.Hail Flutie: BC celebrates 40th anniversary of Miracle in Miami
Walton received orders worth around Tk 350 crore from various local and foreign companies at the "Advanced Technology Solution-ATS Expo 2024", the country's sole industrial expo organised by tech-giant Walton. SM Mahbubul Alam, managing director of Walton Hi-Tech Industries, provided the disclosure at the event's closing ceremony. The three-day expo ended at the International Convention City Bashundhara in the capital's Purbachal on Saturday, said a press release. Alam said Walton has emphasised on investing more in product research and innovation as well as manufacturing environment-friendly products. He also called upon the government to provide necessary policy support to domestic manufacturers. Sk Bashir Uddin, adviser to the ministry of commerce, textiles and jute, attended the closing ceremony as chief guest. The Commerce Adviser visited various stalls and was also overwhelmed witnessing the displays, which included advanced technologies, electronics, electrical products, industrial materials and components of the backward linkage industry. During the visit, he inaugurated Walton's new model of VRF air-conditioner and big-display featured split type AC. "Walton's efforts to manufacture and supply electronics products are praiseworthy. Walton uses the government's policy support perfectly and Bangladesh is being branded by their products across the globe. It's our pride," said Bashir Uddin. In his vote of thanks speech, SM Shamsul Alam, chairman of Walton, said: "We have received huge responses beyond our expectations. The expo is visited by high-level representatives from government and private sectors, including many high profile individuals from different local and foreign companies. We are very happy and satisfied with their positive response." Md Selim Uddin, secretary to the commerce ministry, SM Ferdous Alam, director general of BSTI, SM Nurul Alam Rezvi, director of Walton Hi-Tech, and Md Munim Hasan, director general of the Patent, Desing, Trademark Department, were present. Among others, SM Ashraful Alam, vice-chairman of Walton Hi-Tech, SM Nurul Alam Rezvi, director, Siam Ahmed and Bidya Sinha Mim, brand ambassadors, along with other senior officials of the company and delegates from government and private organisations were also present.Spending squeeze ‘could cost more than 10,000 Civil Service jobs’
City Lighting Control System Market will Grow with Impressive Market Size by 2032 11-24-2024 12:13 PM CET | Tourism, Cars, Traffic Press release from: WiseGuy Reports City Lighting Control System Market Size was estimated at 8.27 USD Billion in 2023. The City Lighting Control System Market Industry is expected to grow from 8.81 USD Billion in 2024 to 14.7 USD Billion by 2032. The City Lighting Control System Market CAGR (growth rate) is expected to be around 6.61% during the forecast period (2025 - 2032). The City Lighting Control System Market is gaining significant traction as urban areas worldwide adopt smart infrastructure to improve efficiency and sustainability. These systems enable centralized management of street and public lighting, using advanced technologies such as IoT, sensors, and artificial intelligence to optimize energy use, reduce operational costs, and enhance safety. The global push for energy-efficient solutions, combined with growing urbanization and government initiatives for smart cities, has propelled the demand for intelligent lighting systems in municipal settings. Request Free Sample Report at; https://www.wiseguyreports.com/sample-request?id=611156 Key Drivers and Market Trends The need for energy conservation is one of the primary drivers of the market. Traditional lighting consumes substantial energy, while smart lighting systems, equipped with LED technology and adaptive dimming, significantly reduce power usage. Additionally, smart city initiatives worldwide prioritize sustainable and interconnected infrastructure, making lighting control systems a vital component. The integration of IoT and AI allows real-time monitoring and automated adjustments based on environmental conditions or human activity, further enhancing efficiency and reducing waste. Another trend is the adoption of wireless technologies in lighting control, simplifying installation and expanding scalability. Cloud-based platforms are also being increasingly utilized, offering remote control capabilities, data analytics, and predictive maintenance features. These advancements align with the broader goal of creating more livable, environmentally friendly cities. Challenges in the Market Despite its promising growth, the City Lighting Control System Market faces challenges. The high initial investment for installing smart lighting infrastructure can deter budget-constrained municipalities. Moreover, compatibility issues between legacy systems and modern technologies pose integration challenges. Cybersecurity is another concern, as interconnected systems become targets for potential hacking. However, advancements in cost-effective technology and increased emphasis on security measures are helping to address these issues, paving the way for wider adoption. Regional Insights The market shows diverse growth patterns across regions. North America and Europe lead in adoption, driven by government policies supporting energy efficiency and smart city projects. In Europe, stringent carbon reduction targets further boost demand. Asia-Pacific is experiencing rapid growth due to urbanization and the proliferation of smart city initiatives in countries like China, India, and Japan. Emerging economies in the Middle East and Africa are also recognizing the potential of smart lighting to modernize urban infrastructure and enhance public safety. Key Companies in the City Lighting Control System Market Include: •Cree, Inc •Intelligent Cities •Schneider Electric •Philips Lighting •Acuity Brands •Eaton •Grupo Sylvania •Osram Licht AG •LiteOn Technology •Leviton •Hubbell Lighting •Signify •Siemens •General Electric Company •Tvilight Access Complete Report at; https://www.wiseguyreports.com/reports/city-lighting-control-system-market Competitive Landscape The City Lighting Control System Market is highly competitive, with several prominent players driving innovation. Companies such as Signify (formerly Philips Lighting), GE Current, and Schneider Electric offer comprehensive solutions combining hardware and software for seamless lighting management. Startups and specialized firms are also entering the space, focusing on niche technologies such as AI-based analytics or solar-powered lighting systems. Partnerships between public sectors and private companies are becoming increasingly common, ensuring efficient implementation of citywide systems. Future Prospects The future of the City Lighting Control System Market is bright, with significant growth expected over the next decade. Emerging technologies such as 5G, edge computing, and blockchain are likely to enhance the functionality and security of lighting control systems. As cities continue to grow, the emphasis on resilient, energy-efficient infrastructure will drive sustained demand. Furthermore, advancements in renewable energy integration and smart grid compatibility will align city lighting systems with broader sustainability goals. In conclusion, the City Lighting Control System Market is at the forefront of urban innovation, transforming how cities manage energy and infrastructure. With increasing technological sophistication and a global focus on smart cities, this market represents a critical component of future urban planning. Organizations that invest in research, adaptability, and secure solutions will be key players in shaping the evolution of smart urban lighting. Explore More; Investment Casting Automotive Parts Market https://www.wiseguyreports.com/reports/investment-casting-automotive-parts-market Liquefied Natural Gas Carrier Market https://www.wiseguyreports.com/reports/liquefied-natural-gas-carrier-market mobility as a service maas market https://www.wiseguyreports.com/reports/mobility-as-a-service-maas-market rolling stock harness market https://www.wiseguyreports.com/reports/rolling-stock-harness-market aluminium automotive radiator market https://www.wiseguyreports.com/reports/aluminium-automotive-radiator-market electric bikes scooters and motorcycles market https://www.wiseguyreports.com/reports/electric-bikes-scooters-and-motorcycles-market electric vehicle 18650 battery pack market https://www.wiseguyreports.com/reports/electric-vehicle-18650-battery-pack-market marine heat insulation fire doors market https://www.wiseguyreports.com/reports/marine-heat-insulation-fire-doors-market motorsports tire market https://www.wiseguyreports.com/reports/motorsports-tire-market public transportation fleet management system market https://www.wiseguyreports.com/reports/public-transportation-fleet-management-system-market Contact Us: WiseGuy Reports Pune Maharashtra, India 411028 +91 20 6912 2998 | +162 825 80070 (US) | +44 203 500 2763 (UK) About US: Wise Guy Reports is pleased to introduce itself as a leading provider of insightful market research solutions that adapt to the ever-changing demands of businesses around the globe. We want our clients to have information that can be used to act upon their strategic initiatives. We, therefore, aim to be your trustworthy partner within dynamic business settings through excellence and innovation. By offering comprehensive market intelligence, our company enables corporate organizations to make informed choices, drive growth, and stay ahead in competitive markets. This release was published on openPR.Gap Inc. Logo (PRNewsfoto/Gap Inc.) Net sales increased 2% versus last year with comparable sales up 1% Operating margin of 9.3% improved 270 basis points versus last year Market share gains across all brands in the quarter Raises outlook for fiscal 2024 net sales, gross margin and operating income growth SAN FRANCISCO , Nov. 21, 2024 /PRNewswire/ -- Gap Inc. (NYSE: GAP), the largest specialty apparel company in the U.S. and a house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its third quarter ended November 2, 2024. "I'm proud that Gap Inc. delivered another successful quarter, growing net sales for the 4 th consecutive quarter and gaining market share across all brands while meaningfully expanding operating margin," said President and Chief Executive Officer, Richard Dickson . "Consistent execution of our strategic priorities, including the rigor and repetition we're applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.'s full potential." Dickson continued: "Holiday is off to a strong start and we remain focused on executing with excellence in the fourth quarter. Our performance year-to-date gives us the confidence to raise our full year outlook for sales, gross margin and operating income growth." Third Quarter Fiscal 2024 – Financial Results Balance Sheet and Cash Flow Highlights Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Third Quarter Fiscal 2024 – Global Brand Results Comparable Sales Old Navy: Gap: Banana Republic: Athleta: Fiscal 2024 Outlook As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. Please note that the company's projected full year fiscal 2024 operating income growth below is provided in comparison to its full year fiscal 2023 adjusted operating income, which excludes $93 million in restructuring costs and a $47 million gain on sale of a building. Full Year Fiscal 2024 Webcast and Conference Call Information Whitney Notaro , Head of Investor Relations at Gap Inc., will host a conference call to review the company's third quarter fiscal 2024 results beginning at approximately 2:00 p.m. Pacific Time today. Ms. Notaro will be joined by President and Chief Executive Officer, Richard Dickson and Chief Financial Officer, Katrina O'Connell . A live webcast of the conference call and accompanying materials will be available online at investors.gapinc.com . A replay of the webcast will be available at the same location. Non-GAAP Disclosure This press release and related conference call include financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are therefore referred to as non-GAAP financial measures. The non-GAAP measures described below are intended to provide investors with additional useful information about the company's financial performance, to enhance the overall understanding of its past performance and future prospects, and to allow for greater transparency with respect to important metrics used by management for financial and operating decision-making. The company presents these non-GAAP financial measures to assist investors in seeing its financial performance from management's view and because it believes they provide an additional tool for investors to use in computing the company's core financial performance over multiple periods with other companies in its industry. Additional information regarding the intended use of non-GAAP measures included in this press release and related conference call is provided in the tables to this press release. The non-GAAP measures included in this press release and related conference call are adjusted operating expense/adjusted SG&A, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share, and free cash flow. These non-GAAP measures exclude the impact of certain items that are set forth in the tables to this press release. In addition, the company's outlook includes projected full year fiscal 2024 operating income growth compared to its full year fiscal 2023 adjusted operating income. The non-GAAP measures used by the company should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and may not be the same as similarly titled measures used by other companies due to possible differences in method and in items or events being adjusted. The company urges investors to review the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures included in the tables to this press release below, and not to rely on any single financial measure to evaluate its business. The non-GAAP financial measures used by the company have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. Forward-Looking Statements This press release and related conference call and accompanying materials contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following: becoming a high performing company; unlocking Gap Inc.'s potential; our four strategic priorities, including maintaining and delivering financial and operational rigor, the reinvigoration of our brands, strengthening our operating platform, and energizing our culture; driving relevance and revenue by executing on our brand reinvigoration playbook; expectations for Old Navy for the holiday season; accelerating Old Navy's presence in the Active category; Old Navy's holiday activations and product; reigniting Gap brand's leadership in trend-right products and creative expression through big ideas and culturally relevant messaging; reestablishing Banana Republic to thrive in the premium lifestyle space; evolving Banana Republic's assortment and fit; continuing to fix the fundamentals at Banana Republic; Banana Republic's holiday product; Athleta's trajectory; Athleta's holiday product; enhancing Athleta's in-store and online experiences; driving high-performance across our teams; executing with excellence; Gap Inc.'s positioning going into the holiday season; expectations for our full year performance; expected year-end inventory levels; expected full year fiscal 2024 net sales; the expected impact of the loss of the 53rd week on full year fiscal 2024 net sales; expected fourth quarter fiscal 2024 net sales; the expected impacts of the loss of the 53rd week and the weekly calendar shift on fourth quarter fiscal 2024 net sales; expected full year fiscal 2024 gross margin; the expected impacts of commodity costs and better inventory management on full year fiscal 2024 gross margin; expected full year fiscal 2024 ROD; expected fourth quarter fiscal 2024 gross margin; the expected impact of the loss of the 53rd week on fourth quarter fiscal 2024 gross margin; expected full year fiscal 2024 SG&A/operating expense; continuing cost discipline and unlocking more efficiencies in the business; expected full year fiscal 2024 operating income; expected full year fiscal 2024 effective tax rate; expected full year fiscal 2024 capital expenditures; generating sustainable, profitable growth and delivering long-term shareholder value; and our dividend policy. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following risks, any of which could have an adverse effect on our business, financial condition, results of operations, or reputation: the overall global economic and geopolitical environment, including the ongoing Russia - Ukraine and Israel-Hamas conflicts and recent elections in the United States , and impacts on consumer spending patterns; social and political unrest in our sourcing countries, including Bangladesh , and disruptions to global trade and shipping capacity, including in the Red Sea; the risk that we or our franchisees may be unsuccessful in gauging apparel trends and changing consumer preferences or responding with sufficient lead time; the highly competitive nature of our business in the United States and internationally; the risk that we may be unable to manage our inventory effectively and the resulting impact on our gross margins and sales; the risk that our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate; the risk that we fail to maintain, enhance, and protect our brand image and reputation; the risk of loss or theft of assets, including inventory shortage; the risk that we fail to manage key executive succession and retention or continue to attract qualified personnel; reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards; the risk that changes in our business strategy or restructuring our operations may not generate the intended benefits or projected cost savings; the risk that trade matters could increase the cost or reduce the supply of apparel available to us; the risks to our business, including our costs and global supply chain, associated with global sourcing and manufacturing; the risks to our reputation or operations associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct; the risk that we or our franchisees may be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; engaging in or seeking to engage in strategic transactions that are subject to various risks and uncertainties; the risk that our efforts to expand internationally may not be successful; the risk that our franchisees and licensees could impair the value of our brands; the risk of data or other security breaches or vulnerabilities that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures; the risk that failures of, or updates or changes to, our IT systems may disrupt our operations; the risk that our comparable sales and margins may experience fluctuations, that we may fail to meet financial market expectations, or that the seasonality of our business may experience fluctuations; the risk of foreign currency exchange rate fluctuations; the risk that our level of indebtedness may impact our ability to operate and expand our business; the risk that we and our subsidiaries may be unable to meet our obligations under our indebtedness agreements; the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets; natural disasters, public health crises (such as pandemics and epidemics), political crises (such as the ongoing Russia - Ukraine and Israel-Hamas conflicts), negative global climate patterns, or other catastrophic events; evolving regulations and expectations with respect to ESG matters, including climate reporting; the adverse effects of climate change on our operations and those of our franchisees, vendors, and other business partners; our failure to comply with applicable laws and regulations and changes in the regulatory or administrative landscape; the risk that we will not be successful in defending various proceedings, lawsuits, disputes, and claims; the risk that our estimates and assumptions used when preparing our financial information are inaccurate or may change; the risk that changes in the geographic mix and level of income or losses, the expected or actual outcome of audits, changes in deferred tax valuation allowances, and new legislation could impact our effective tax rate, or that we may be required to pay amounts in excess of established tax liabilities; the risk that changes in our business structure, our performance or our industry could result in reductions in our pre-tax income or utilization of existing tax carryforwards in future periods, and require additional deferred tax valuation allowances; the risk that the adoption of new accounting pronouncements will impact future results; and the risk that additional information may arise during our close process or as a result of subsequent events that would require us to make adjustments to our financial information. Additional information regarding factors that could cause results to differ can be found in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2024 , as well as our subsequent filings with the Securities and Exchange Commission. These forward-looking statements are based on information as of November 21, 2024 . We assume no obligation to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. About Gap Inc. Gap Inc., a house of iconic brands, is the largest specialty apparel company in America. Its Old Navy , Gap , Banana Republic , and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2023 net sales were $14.9 billion . For more information, please visit www.gapinc.com . Investor Relations Contact: Nina Bari Investor_relations@gap.com Media Relations Contact: Megan Foote Press@gap.com
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