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Advertisement Thanks to tax cuts made during the first Trump administration, Americans can give or hand down about $13 million in assets without paying federal estate tax. Only 0.2% of taxpayers have to worry about this tax, and they hire top-notch accountants and lawyers to pay as little as possible. "This is a wealthy person's playground problem," Robert Strauss, partner at the law firm Weinstock Manion, told Business Insider. Advertisement Some of these tax avoidance techniques might be eyebrow-raising, yet they are perfectly legal. For instance, taxpayers can put homes and country homes in trusts that last decades and any appreciation in the property's value doesn't count toward their taxable estate. Life insurance, probably the least sexy area of financial planning, can be used to save tens of millions of dollars in taxes if bought from issuers in the Cayman Islands and Bermuda. Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. That exemption is due to expire at the end of 2025, but it looks likely that it will be extended given the Republican Party's total control of Washington. Here are 12 little-known techniques that the richest taxpayers use to pay less to Uncle Sam: Using trusts to give away homes and country houses Qualified personal residence trusts , better known as "QPRTs," effectively freeze the value of a real estate property for tax purposes. The homeowner puts the primary residence or vacation home in the trust and retains ownership for however many years they choose. When the trust ends, the property is transferred out of the taxable estate. The estate only has to pay gift tax on the value of the property when the trust was formed even if the home has appreciated by millions in value. Advertisement QPRTs have become more popular in the past year as interest rate hikes confer another tax benefit. It seems too good to be true, but there are a few strings attached. Passing wealth to future generations with trusts that last up to 1,000 years From the Wrigley family behind the titular chewing gum brand to Jeff Bezos' mother, an Amazon investor, some of America's wealthiest use generation-skipping trusts to avoid paying wealth transfer taxes and provide for future heirs. These so-called dynasty trusts allow taxpayers to pass along wealth to generations that haven't even been born yet and only be subject to the 40% generation-skipping tax once. Many states have eased trust limits to get the business of the wealthy, with Florida and Wyoming allowing dynasty trusts to last as long as 1,000 years, which spans about 40 generations. Advertisement The heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. These trusts even protect assets from future creditors and shield them in the event of a divorce. iStock; BI Giving to charity via trusts that also yield income Charitable remainder trusts (CRTs) allow moneyed Americans to have their cake and eat it too. Plenty of affluent taxpayers deduct charitable donations from their taxable income, but the ultra-rich can parlay their philanthropy into guaranteed income for life. Advertisement Taxpayers put assets in the trust, collect annual payments for as long as they live, and get a partial tax break. Only 10% of what remains in the CRT has to go to a designated charity to pass muster with the IRS. These trusts can be funded with a wide range of assets, from yachts to property to closely held businesses, making them particularly useful for entrepreneurs looking to cash out and do good. Related stories Holding life insurance policies via trusts to save on taxes and protect heirs from lawsuits Rich founders with illiquid assets can take out life insurance policies to cover their estate taxes. They get the most bang for their buck if they put the life insurance policy inside a trust rather than owning it directly. The irrevocable life insurance trust (ILIT) collects the death benefit, pays the tax bill, and distributes whatever is left according to the insured individual's wishes. Any payout is also protected from estate taxes, even if the insured's estate and death benefit exceed the exemption. Advertisement There are other perks. If the insured wants to make sure that their heirs are protected from creditors or divorcing spouses, they can use ILITs to be doubly safe. While the law varies by state, trusts and life insurance both have strong legal protections. Using charitable trusts that give the remainder to heirs Also known as the Jackie O trust since it was used by the late First Lady, a charitable lead trust or CLT makes annual payments to a charity or multiple. Whatever is left when the trust expires goes to a remainder beneficiary picked by the grantor, typically their children. If the assets within the trusts appreciate faster than an interest rate set by the IRS at the time of funding, the beneficiary can even end up with a bigger inheritance. CLTs can also be used to discreetly transfer wealth while being publicly philanthropic. Advertisement "I've seen lawyers use these to plan for mistresses, to plan for children that perhaps the spouse doesn't know about," lawyer Edward Renn told Business Insider. Getty; BI Taking loans to pay estate taxes Unlike QPRTs and CRTs, this technique is highly scrutinized by the IRS and comes with a lot of hoops to jump through. Families that are asset-rich but cash-poor and facing an estate tax bill can either rush to sell those assets to make the nine-month deadline or take a loan. Advertisement The estate can make an upfront deduction on the interest of these Graegin loans , named after a 1988 Tax Court case. Further, if illiquid assets make up at least 35% of the estate's value, families can defer estate tax for as long as 14 years, paying in installments with interest, and effectively taking a loan from the government. Graegin loans are prime targets for auditors and have led to years-long legal battles, but the savings can be worth it for rich families. Buying offshore life insurance policies Private-placement life insurance , or PPLI, can be used to pass on assets from stocks to yachts to heirs without incurring any estate tax. Advertisement In short, an attorney sets up a trust for a wealthy client. The trust owns the life-insurance policy that's created offshore. The assets in the trust are treated as premiums, and if structured correctly, the benefit and assets in the policy are bequeathed free of estate tax. It's only relevant to the ultra-wealthy, often requiring $5 million in upfront premiums as well as a small army of professionals to set up and administer, including trust and estate attorneys, asset managers, custodians, and tax advisors. Related stories Transferring depressed assets during a market slump The down market has one silver lining for high-net-worth individuals. It is an optimal time to create new trusts as people can transfer depressed assets, whether they are stocks or bitcoin, at a lower tax basis. Advertisement The long-favored grantor-retained annuity trusts (GRATs) can confer big tax savings during recessions. These trusts pay a fixed annuity during the trust term, which is usually two years, and any appreciation of the assets' value is not subject to estate tax. GRATs have picked up in popularity in the past year as the Federal Reserve has raised interest rates, which eat into the returns on these trusts. ivanastar/Getty, akurtz/Getty, DNY59/Getty, Tyler Le/BI Stashing assets in trusts for a spouse The wealthy can save on taxes by putting their riches in trusts before the Trump tax cuts expire, but some don't feel ready to give their fortunes to their kids yet. Advertisement Luckily, there is a compromise. Using a spousal lifetime-access trust , also known as a "SLAT," married taxpayers can stash their fortunes in trusts that pay distributions to their spouses rather than giving assets to their kids. The beneficiary spouse can use this cash flow to fund the couple's lifestyle. After this spouse dies, the trust passes to new beneficiaries, typically the couple's children. Buyer beware: divorce can mean losing those dollars forever. But millions in potential tax savings can be worth the gamble. Using trusts that pay cash to spouses but keep the assets for the kids When the wealthy remarry, they often have to balance the needs of their new spouse and their kids from a prior marriage. Trusts can be used to take care of the spouses, but the adult kids want their piece of the pie. Advertisement There is a way to make everyone happy. With a qualified terminable interest property trust , also known as a "QTIP," married taxpayers can put their fortunes in trusts that pay distributions such as stock dividends to their spouses. The income-producing assets, however, are untouched, and when the beneficiary spouse dies, everything in the trust is transferred to new beneficiaries, who are typically the adult children of the spouse who funds the trust. The main benefit of QTIPs is peace of mind. If the beneficiary spouse remarries, they still get the cash, but they can't gift the assets to their new partner. Getty Images; Jenny Chang-Rodriguez/BI Transferring business assets to family-limited partnerships at big discounts Sam Walton, the founder of Walmart, used a family limited partnership or "FLP" to save his kids and wife from paying any estate taxes on multibillion-dollar family fortune. Advertisement With an FLP, an individual — often a parent or two parents — pools their business assets, commonly real estate or stocks. As a general partner, the original individual can name their children as limited partners and give them interest in the partnership. The kids get cash distributions from revenue generated by the trust but do not have control over the actual assets. This control is appealing to parents who want to hold the purse strings. Another sweetener: You can claim a discount on the assets transferred to the FLP and use even less of your estate-tax exemption. Though the IRS scrutinizes these discounts, they can be worth the gamble. The right lawyer can justify a discount of 45% or higher for less liquid assets, such as privately held businesses. Giving stock to parents and inheriting it back when they die Wealthy founders who built their businesses from the ground up face hefty capital gains taxes when they cash out. Instead of selling the shares outright, they can save on taxes by gifting their stock to their parents and waiting to sell the stock until they inherit it after their parents' death. These "upstream transfers" take advantage of a tax loophole for inherited assets that boosts the cost basis to its fair market value at the time of inheritance. Advertisement This tactic can also be used to save on estate taxes by ultra-rich entrepreneurs who have already used their exemption but have less-wealthy parents who haven't. They can stash the assets in a trust that benefits their parents until their passing and then their children. When the children inherit the assets, the federal estate tax doesn't kick in as long as the grandparents' estate does not exceed $27.22 million. Lawyers warn that upstream planning comes with risks. Individuals can lose their assets for good if their parents decide to share the wealth with a new spouse or other children.
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Rotary Club unveils solar project at Lagos motherless babies homeThe National Lido of Wales has been damaged once again by flood water. Just four years after it underwent extensive repair work following Storm Dennis, it has been damaged yet again following Storm Bert. People in Pontypridd have been feeling the effects of Storm Bert, with a major incident now being declared in Rhondda Cynon Taf as more than 100 properties have been flooded. Residents have described the situation in Pontypridd as “utterly heart-breaking” as locals have been bailing out their flooded houses with bins after the River Taff burst its banks. And more images have shown the Lido, which was closed for over a year after the last time it was hit by Storm Dennis in February 2020, filled with flood water as the river Taf took over the park. A regular user of the lido posted on X: “So weird and sad seeing the lido where I swim every summer under water; those green doors belong to changing cubicles” after seeing images of the lido circling showing the impact of the storm." The pictures which have emerged show parts of the lido's structure surrounded by flood water, as well as the grounds which enclose it also looking heavily affected. The water appears to encroach some of the grounds which indicate that the water levels could risk going over any boundaries or drainage systems in place. Judging from the images, the landmark looks currently looks difficult to access so it was no surprise that swimming sessions were cancelled earlier on today. A post was made on the 'Lido Ponty' X account, noting: "Due to the horrible weather Lido Ponty is closed today. Today is the last day of our cold water swimming sessions, before we close for the rest of the season until the Boxing Day swim. Sorry guys." The National Lido has been hit by flooding twice in a decade and only opened in 2015 after a huge restoration. Following Storm Dennis, the work to fix it was no mean feat, with 1,000 tonnes of debris and water needing to be removed and key infrastructure at the site being completely submerged. As images of the lido's flooding spread around social media, locals and regular users of the facility shared their thoughts. One person noted: "Heartbreaking. It took so long to get back to normal. Hope we don't lose lido completely this time." Another person added: "Oh no! Has the lido flooded again?" You can follow our live coverage of this event and the flooding on our live blog.The Prime Minister used an op-ed in the Mail on Sunday to vow to “get to grips” with the cost of welfare after figures suggested more than four million people will be claiming long-term sickness support by the end of the decade. Work and Pensions Secretary Liz Kendall will announce a package of legislation next week designed to “get Britain working” amid Government concerns about the projected rise. Official forecasts published by her department this week show that the number of people claiming incapacity benefits is expected to climb from a pre-pandemic figure of around 2.5 million in 2019 to around 4.2 million in 2029. Last year there were just over three million claimants. The Prime Minister wrote: “In the coming months, Mail on Sunday readers will see even more sweeping changes. Because make no mistake, we will get to grips with the bulging benefits bill blighting our society. “Don’t get me wrong, we will crack down hard on anyone who tries to game the system, to tackle fraud so we can take cash straight from the banks of fraudsters. “There will be a zero-tolerance approach to these criminals. My pledge to Mail on Sunday readers is this: I will grip this problem once and for all.” Ms Kendall’s white paper is expected to include the placement of work coaches in mental health clinics and a “youth guarantee” aimed at ensuring those aged 18-21 are working or studying.
( MENAFN - EIN Presswire) Clinical Research Organization Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033 The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-for a limited time only! LONDON, GREATER LONDON, UNITED KINGDOM, December 13, 2024 /EINPresswire / -- The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-limited time only! The Clinical Research Organization CRO market has been growing solidly in recent times. An industry forecast indicates an increase from $54.15 billion in 2023 to $59.41 billion in 2024 at a potent compound annual growth rate CAGR of 9.7%. This favorable progression during the historic period is chiefly attributed to factors like an aging global population, mounting prevalence of chronic conditions, globalization of clinical trials, a greater focus on orphan drug development, along with substantial government funding and grants. What Is the Future Outlook and Market Size for Clinical Research Organizations? The Clinical Research Organization market is forecasted to witness robust growth in the upcoming years. According to data projections, by 2028, the market will hit a staggering figure of $86.33 billion, with a compound annual growth rate CAGR at 9.8%. The primary factors driving growth throughout the forecasted period include shifting focus towards personalized medicine, an upsurge in clinical trials, expanding drug development pipelines, increased spending on pharmaceutical research and development, and the rising boom in biopharmaceuticals. Discover Key Insights and Market Trends with a Free Sample Report of the Global Clinical Research Organization Market: What Are the Key Market Drivers Catalyzing Growth in the CRO Market? A key driver instigating this growth trajectory is the burgeoning demand for personalized medicine. Personalized medicine, also known as precision medicine or individualized medicine, is an innovative approach to medical care that customizes treatments and interventions based on the unique characteristics of each patient. Due advancements in genomics and biotechnology, treatments have become more targeted and effective, catering specifically to individual genetic profiles and health conditions. CROs play a crucial role in personalized medicine by carrying out specialized trials and analyses to tailor treatments to individual genetic and biological profiles. For instance, the Personalized Medicine Coalition, a US-based non-profit organization, reports that the FDA approved 16 novel personalized therapies for rare disease patients in 2023 alone, a steep rise from the six approved in 2022. Therefore, the increasing demand for personalized medicine is substantially driving the growth of the clinical research organization market. Pre-book the report for a swift delivery: Which Industry Giants Are Powering the Clinical Research Organization Market? Major companies operating in the CRO market include Laboratory Corporation of America Holdings, IQVIA Holdings Inc., PPD Inc., ICON plc, Syneos Health Inc., Charles River Laboratories International Inc., Parexel International Corporation, Medpace Holdings Inc., Almac Group Ltd., Premier Research Group Limited, and others. These corporations have been instrumental in driving the robust growth of the clinical research market. What Noteworthy Trends Are Shaping the Future of the Clinical Research Organization Market? Emerging trends highlight that corporations in the clinical research organization market are increasingly exploring advanced solutions such as artificial intelligence AI-driven end-to-end data platforms. These platforms enhance data integration, analysis, thereby revolutionizing overall trial efficiency. For instance, Elligo Health Research Inc., a US-based clinical research organization, unveiled DataAI Connect in January 2023, a breakthrough data and technology platform engineered to expedite data-driven clinical research. How Is the Global Clinical Research Organization Market Segmented? The clinical research organization market exhibits the following key segments: 1 By Service: Drug Discovery Services, Pre-Clinical Services, Clinical Services, Post Approval Services 2 By Production: In-house, Outsourced 3 By Indication: Oncology, Central Nervous System, Cardiovascular Diseases, Metabolic Disorders, Immunology, Respiratory, Musculoskeletal Disorders, Hematological Disorders 4 By End User: Pharmaceutical And Biotechnology Companies, Medical Device Companies, Governments And Private Firms, Academic Institutions, Other End Users How Is the Clinical Research Organization Market Performing Globally? North America was the largest region in the clinical research organization market in 2023, but the Asia-Pacific region is set to surpass in the near future as the fastest-growing region during the forecasted period. The regions assessed in the clinical research organization market report span Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Browse more similar reports- Virtual Clinical Trials Global Market Report 2024 eClinical Solutions Global Market Report 2024 Electronic Clinical Outcome Assessment Solutions Global Market Report 2024 About The Business Research Company Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game. Contact us at: The Business Research Company: Americas +1 3156230293 Asia +44 2071930708 Europe +44 2071930708 Email us at ... Follow us on: LinkedIn: YouTube: Global Market Model: global-market-model Oliver Guirdham The Business Research Company +44 20 7193 0708 email us here Visit us on social media: Facebook X LinkedIn Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above. 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Industrial Inline Process Viscometer Market Outlook and Future Projections for 2030 11-23-2024 01:15 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Dhirtek Business Research and Consulting Industrial Inline Process Viscometer Market The industrial inline process viscometer market represents a dynamic and continually evolving landscape, shaped by changing consumer demands and technological advancements. In this comprehensive report, we provide an in-depth exploration of the market, designed for a wide range of stakeholders including manufacturers, suppliers, distributors, and investors. Our goal is to equip industry participants with essential insights that enable informed decision-making in an ever-changing market environment. This analysis not only examines the current state of the industrial inline process viscometer market but also forecasts its future trends. Scope and Purpose This report serves as an extensive resource, thoughtfully curated to deliver actionable intelligence to industry stakeholders. It covers critical elements such as market dynamics, competitive environments, growth opportunities, challenges, and regional differences. The insights provided go beyond mere descriptions, offering a valuable tool for stakeholders to refine their strategies and make informed choices in a competitive market. Request for Sample Report: https://www.dhirtekbusinessresearch.com/market-report/Industrial-Inline-Process-Viscometer-Market/request-for-sample-report Comprehensive Market Analysis We are committed to providing a thorough analysis that explores every aspect of market growth, including shifts in consumer preferences and technological innovations driving demand for industrial inline process viscometer products. We also address the challenges faced by the industry, such as economic uncertainties and intense competition, offering insights to help stakeholders navigate these complexities. Key Players in the Industrial Inline Process Viscometer Market: AMETEK Inc. Anton Paar GmbH Rheology Solutions Pty Ltd. Cambridge Viscosity, Inc. Emerson Electric Co. VAF Instruments Endress+Hauser Group Services AG ProRheo GmbH Marimex America LLC Hydramotion Ltd. Strategic Guidance for the Future This report invites stakeholders to delve into a detailed examination of the competitive landscape. By profiling key players in the industrial inline process viscometer market and analyzing their strategies, we offer crucial insights to help industry participants make informed strategic decisions. Whether it's about outpacing competitors or learning from successful approaches, our analysis is designed to guide stakeholders toward success. Anticipated Insights Understanding the diverse segments within the industrial inline process viscometer market is critical to success. Our report breaks down segment sizes, potential growth trajectories, and key trends, offering actionable insights that allow stakeholders to develop targeted strategies and optimize resource allocation. The knowledge provided empowers stakeholders to navigate the complexities of the industrial inline process viscometer market with clarity and confidence. Balancing Market Forces and Strategic Impact This report delivers a comprehensive analysis of the factors shaping the industrial inline process viscometer market. By evaluating both the drivers of market growth and the obstacles that could impede it, stakeholders gain a holistic understanding of the market's dynamics. For manufacturers, this analysis helps align innovation efforts with consumer demands and regulatory trends, while investors and decision-makers gain a deeper understanding of economic risks and supply chain vulnerabilities, allowing them to make more informed strategic choices. Our goal is to provide stakeholders with the knowledge needed to confidently and successfully navigate the industrial inline process viscometer market. Competitive Landscape Our in-depth examination of the industrial inline process viscometer market's competitive landscape highlights key players, scrutinizing their strategies and impacts on the industry. By analyzing the approaches of major companies, stakeholders gain a valuable understanding of market dynamics and can leverage these insights to identify growth opportunities, innovate, and make informed strategic decisions. Market Segmentation The report begins with a detailed analysis of the unique characteristics defining each segment within the industrial inline process viscometer market. Segmentation can occur across various dimensions, including product types, customer demographics, or specific use cases. Understanding these differences allows stakeholders to tailor their strategies, products, and marketing efforts to meet the specific needs of each segment, enhancing competitive positioning and maximizing opportunities for success. Market Segments: Product Type: Rotational ILPV Torsional Oscillation ILPV Vibrational ILPV Falling Piston ILPV Others Application: Oil & Gas Chemical Food & Beverage Pharmaceutical Pulp & Paper Paints & Coatings Others Market Size and Segment Growth Potential A crucial part of the report focuses on understanding the size and significance of each market segment. We provide quantitative data that illustrates the market share and contribution of each segment, enabling stakeholders to make informed decisions regarding resource allocation, strategic prioritization, and investment. This section offers insights into the growth potential of each segment, including factors driving future expansion, evolving consumer preferences, and technological adoption. Conclusion This report serves as a strategic guide for stakeholders in the industrial inline process viscometer market, offering comprehensive insights into market segmentation, competitive dynamics, and growth potential. By understanding the market's complexities and emerging opportunities, industry participants can make well-informed decisions that drive success and innovation in this rapidly evolving market. Other Reports Sodium Iodide Crystal Detector Market https://www.dhirtekbusinessresearch.com/market-report/Sodium-Iodide-Crystal-Detector-Market Skills Management Software Market https://www.dhirtekbusinessresearch.com/market-report/Skills-Management-Software-Market Mini Zink Printer Market https://www.dhirtekbusinessresearch.com/market-report/Mini-Zink-Printer-Market High-Temp Condensate Pump Market https://www.dhirtekbusinessresearch.com/market-report/High-Temp-Condensate-Pump-Market "Contact Us Dhirtek Business Research and Consulting Private Limited Contact No: +91 7580990088 Email Id: sales@dhirtekbusinessresearch.com" "About Us Dhirtek Business Research & Consulting Pvt Ltd is a global market research and consulting services provider headquartered in India. We offer our customers syndicated research reports, customized research reports, and consulting services. Our objective is to enable our clientele to achieve transformational progress and help them to make better strategic business decisions and enhance their global presence. We serve numerous companies worldwide, mobilizing our seasoned workforce to help companies shape their development through proper channeling and execution. We offer our services to large enterprises, start-ups, non-profit organizations, universities, and government agencies. The renowned institutions of various countries and Fortune 500 businesses use our market research services to understand the business environment at the global, regional, and country levels. Our market research reports offer thousands of statistical information and analysis of various industries at a granular level." This release was published on openPR.
COLUMBUS, Ohio — Will Howard passed for two touchdowns and rushed for another, TreVeyon Henderson ran for a score, and No. 2 Ohio State beat previously undefeated No. 5 Indiana 38-15 on Saturday. All Ohio State (10-1, 7-1) has to do now is beat Michigan at home next Saturday and it will earn a return to the Big Ten championship game for the first time since 2020 and get a rematch with No. 1 Oregon. The Ducks beat Ohio State 32-31 in a wild one back on Oct. 12. The Hoosiers (10-1, 7-1) had their best chance to beat the Buckeyes for the first time since 1988 but were hurt by special teams mistakes and disrupted by an Ohio State defense that sacked quarterback Kurtis Rourke five times. Howard finished 22 for 26 for 201 yards. Emeka Egbuka had seven catches for 80 yards and a TD. NO. 25 ILLINOIS 38, RUTGERS 31: Luke Altmyer found Pat Bryant for a catch-and-run, 40-yard touchdown pass with 4 seconds left, sending Illinois to a wild road victory over Rutgers. Illinois (8-3, 5-3) was down 31-30 when it sent long kicker Ethan Moczulski out for a desperation 58-yard field goal with 14 seconds to go. Rutgers (6-5, 3-5) coach Greg Schiano then called for a timeout right before Moczulski’s attempt was wide left and about 15 yards short. After the missed field goal was waved off by the timeout, Illinois coach Bret Bielema sent his offense back on the field. Altmyer hit Bryant on an in cut on the left side at the 22, and he continued across the field and scored untouched in a game that featured three lead changes in the final 3:07. IOWA 29, MARYLAND 13: Kaleb Johnson rushed for 164 yards and a touchdown on a career-high 35 carries, and Kamari Moulton scored on a 68-yard run in the fourth quarter to help Iowa outlast Maryland in College Park. Johnson scored from 2 yards out in the second quarter for his 21st rushing touchdown of the season, and the Hawkeyes (7-4, 5-3) rebounded from their loss to UCLA in their previous game. Maryland (4-7, 1-7) needed to win its final two regular-season games to reach six wins and bowl eligibility, but the Terrapins were dominated in the first half and eventually fell behind 16-0. Drew Stevens made five field goals for Iowa, including kicks from 54 yards in the second quarter, then 50 and 49 in the third. LATE FRIDAY MICHIGAN STATE 24, PURDUE 17: Aidan Chiles threw for two scores in the first half to build a three-touchdown lead and Michigan State (5-6, 3-5) held on to beat Purdue (1-10, 0-8) at home. The Spartans are a win away from being eligible for a bowl with first-year coach Jonathan Smith and they play Rutgers at home in the final regular-season game. Get local news delivered to your inbox!BIG TEN ROUNDUP
NEW YORK , Dec. 27, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sana Biotechnology, Inc. ("Sana" or the "Company") (NASDAQ: SANA ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Sana and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On November 4, 2024 , Sana issued a press release announcing that it "will suspend development of both SC291 in oncology and of SC379, its glial progenitor cell program, as it seeks partnerships for these programs". In the press release, Steve Harr, Sana's President and Chief Executive Officer stated that "we need to ensure that we are directing our investments into the areas where we believe we can have the greatest impact for patients" and that "[t]his modified strategy will also help us reduce our cash burn but comes with the necessity of parting with some talented and valued colleagues." On this news, Sana's stock price fell $0.37 per share, or 9.84%, to close at $3.39 per share on November 5, 2024 . Pomerantz LLP, with offices in New York , Chicago , Los Angeles , London , Paris , and Tel Aviv , is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz , known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud , breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com . Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980 SOURCE Pomerantz LLP
A new supersonic jet called Overture could make the journey from London to New York in just three and a half hours. Developed by Boom Supersonic , the Colorado-based company hopes to have the jet flying by 2030, bringing back supersonic passenger travel for the first time since the Concorde. Earlier this month, a smaller prototype of the jet, nicknamed “Baby Boom,” took its first test flight over the Mojave Desert in California . The aircraft, officially called XB-1, flew for 12 minutes, reaching speeds of 283 mph and an altitude of 7,000 feet. The flight tested its design and technology, which includes advanced aerodynamics and a carbon-fibre shell. Boom’s CEO Blake Scholl said: “This is the most significant step yet in bringing supersonic travel back to passengers.” The Overture is designed to fly at Mach 1.7 - around 1,050 mph - which is slower than the Concorde but still twice as fast as standard planes. It could cut the London to New York journey to just three and a half hours, compared to the usual six and a half. A flight from London to Miami would take less than five hours. The jet would carry up to 80 passengers with a range of nearly 5,000 miles. However, because of restrictions on sonic booms, the Overture will focus on over-water routes, like those between coastal cities in the US , Europe and Asia . Boom Supersonic says there are more than 600 possible routes for the aircraft, and airlines like United, American Airlines and Japan Airlines have already ordered 130 planes. Supersonic travel has not been available since Concorde stopped flying in 2003. The Concorde was famous for its speed but also had big problems with high costs, low demand and safety concerns following a fatal crash in 2000. Boom hopes to avoid these issues with modern technology and a more sustainable design. If all goes to plan, the Overture could make long-distance travel faster and more convenient for passengers. Test pilot Bill Shoemaker praised the XB-1’s first flight, saying: “This is a proud moment for the team and a big step forward in making supersonic travel a reality again.”
By MARC LEVY HARRISBURG, Pa. (AP) — Democratic Sen. Bob Casey of Pennsylvania conceded his reelection bid to Republican David McCormick on Thursday, as a statewide recount showed no signs of closing the gap and his campaign suffered repeated blows in court in its effort to get potentially favorable ballots counted. Casey’s concession comes more than two weeks after Election Day, as a grindingly slow ballot-counting process became a spectacle of hours-long election board meetings, social media outrage, lawsuits and accusations that some county officials were openly flouting the law. Republicans had been claiming that Democrats were trying to steal McCormick’s seat by counting “illegal votes.” Casey’s campaign had accused of Republicans of trying to block enough votes to prevent him from pulling ahead and winning. In a statement, Casey said he had just called McCormick to congratulate him. “As the first count of ballots is completed, Pennsylvanians can move forward with the knowledge that their voices were heard, whether their vote was the first to be counted or the last,” Casey said. The Associated Press called the race for McCormick on Nov. 7, concluding that not enough ballots remained to be counted in areas Casey was winning for him to take the lead. As of Thursday, McCormick led by about 16,000 votes out of almost 7 million ballots counted. That was well within the 0.5% margin threshold to trigger an automatic statewide recount under Pennsylvania law. But no election official expected a recount to change more than a couple hundred votes or so, and Pennsylvania’s highest court dealt him a blow when it refused entreaties to allow counties to count mail-in ballots that lacked a correct handwritten date on the return envelope. Republicans will have a 53-47 majority next year in the U.S. Senate. Follow Marc Levy at twitter.com/timelywriter
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