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TORONTO, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Rivalry Corp. (the "Company" or "Rivalry") (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, is pleased to announce that it has closed the third tranche (the “Third Closing”) of its non-brokered private placement of units of the Company (the "Units"), previously announced on November 26, 2024 (the "Offering"). Under the Third Closing, the Company issued 2,231,253 Units at a price of $0.15 per Unit, for gross proceeds of $334,688. The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing, second closing and Third Closing) of up to approximately USD$3 million. Unless otherwise noted, all dollar figures are quoted in Canadian dollars. Each Unit is comprised of one (1) subordinate voting share in the capital of the Company (each, a "Subordinate Voting Share") and one-half of one (1/2) Subordinate Voting Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable into one Subordinate Voting Share in the capital of the Company (each, a "Warrant Share") at a price of $0.25 per Warrant Share for a period of 12 months from the date hereof, subject to the Company's right to accelerate the expiry date of the Warrants upon 30 days' notice in the event that the closing price of the Subordinate Voting Shares is equal to or exceeds $0.50 on the TSX Venture Exchange (or such other recognized Canadian stock exchange as the Subordinate Voting Shares are primarily traded on) for a period of 10 consecutive trading days. The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes. The Subordinate Voting Shares and Warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation. The Company has paid an aggregate of $10,501.20 in finder's fees in connection with the Third Closing. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. 100,200 Units were issued to family members of Steven Isenberg, a director of the Company and a "related party" (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101")) and 500,000 Units were issued to Kevin Wimer, a director of the Company and a "related party", and such issuances are considered a "related party transaction" for the purposes of MI 61-101. Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company’s market capitalization. The purchasers of the Units and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions. About Rivalry Rivalry Corp. wholly owns and operates Rivalry Limited , a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet. Company Contact: Steven Salz, Co-founder & CEO ss@rivalry.com Investor Contact: investors@rivalry.com Media Contact: Cody Luongo, Head of Communications cody@rivalry.com 203-947-1936 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Information and Statements This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s MD&A dated April 30, 2024 and other disclosure documents available on SEDAR+ at www.sedarplus.ca . No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Source: Rivalry Corp.Benchmark Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)
50 EH/s expansion accelerated to H1 2025 Focused on alternative funding instruments Potential for investor distributions in 2025 Transition to U.S. domestic issuer SYDNEY, Nov. 26, 2024 (GLOBE NEWSWIRE) -- IREN (NASDAQ: IREN ) (together with its subsidiaries, “IREN” or “the Company”), today reported its financial results for the first quarter ended September 30, 2024. All $ amounts are in United States Dollars (“USD”) unless otherwise stated. “We are pleased to report our Q1 FY25 results and reiterate our focus on low-cost Bitcoin mining, operating cashflows and shareholder returns,” said Daniel Roberts, Co-Founder and Co-CEO of IREN. “We are just weeks away from achieving our 31 EH/s milestone and are excited to announce the acceleration of our growth trajectory to 50 EH/s in H1 2025, which was previously H2 2025. Our funding program is focused on alternative funding instruments and the strong operating cashflows we expect to generate enhances our flexibility to support potential distributions in 2025.” Business Update Bitcoin Mining 21 EH/s installed, on-track for 31 EH/s next month Accelerating expansion to 50 EH/s in H1 2025 Previously H2 2025 Single site expansion at Childress S21 Pro miners previously secured (fixed price, $18.9/TH) Institutional-grade mining exposure Vertically integrated, large scale and low-cost producer ~$29k all-in cash cost per Bitcoin 1 Non-HODL approach and prudent capital stewardship through the cycle Commitment to 100% renewable energy, supporting energy grids and local communities AI/HPC Update AI Cloud Services 1,896 NVIDIA H100 & H200 GPUs Focus on measured growth, only in response to customer demand Other Continuing to advance negotiations with parties on a range of structures in relation to IREN sites – any transaction would need to reflect strategic value of IREN assets Installing liquid cooling infrastructure at Childress and Prince George to support NVIDIA Blackwell GPUs Power & Land IREN 1.4GW Sweetwater site located 60 miles from Abilene, Texas Procurement underway to support IREN-owned 1.4GW substation energization by April 2026 Construction planning for multiple pathways Continuing to prioritize development activities for >1GW pipeline Corporate & Funding Focused on alternative funding instruments Strong operating cashflows to support potential investor distributions in 2025 Transition to U.S. domestic issuer status in 2025 (including U.S. GAAP reporting) The Q1 FY25 Results webcast will be recorded, and the replay will be accessible shortly after the event at https://iren.com/investor/events-and-presentations First Quarter FY25 Results Bitcoin mining revenue of $49.6 million, as compared to $54.3 million in Q4 FY24, driven by increase in network difficulty and lower Bitcoin prices, offset by growth in operating hashrate during the month of September 2024 28% increase in AI Cloud Services revenue of $3.2 million, as compared to $2.5 million in Q4 FY24, driven by revenue for additional GPU’s commissioned in April 2024 Adjusted EBITDA of $2.6 million, as compared to $12.2 million in Q4 FY24 2 813 Bitcoin mined, as compared to 821 Bitcoin in Q4 FY24, driven primarily by increase in network difficulty and halving event in Q4 FY24 Net electricity costs 3 of $28.7 million, as compared to $24.1 million in Q4 FY24, primarily driven by an increase in operating capacity Successful transition to spot electricity pricing at Childress from August 1, 2024 One-off cost of $7.2 million to close out August and September 2024 hedges Other costs of $21.4 million, as compared to $20.5 million in Q4 FY24 4 Reflects a business today that is delivering significant growth, and projecting continued expansion over the coming years Includes $2.7 million provision for Canadian non-refundable sales tax, as compared to $2.0 million in Q4 FY24. Net loss after income tax of $51.7 million, as compared to a loss of $27.1 million in Q4 FY24 Q1 FY25 Operating cash outflow of $3.8 million, as compared to cash inflow of $4.8 million in Q4 FY24 Cash and cash equivalents of $98.6 million as of September 30, 2024 and no debt facilities, increasing to $182.4 million as of October 31, 2024 5 Assumptions and Notes All-in cash cost per Bitcoin at 31 EH/s reflects total net electricity costs, overheads and Renewable Energy Certificate (REC) cash costs and includes benefit of $32m illustrative contribution from AI Cloud Services, on a per Bitcoin mined basis. Calculations assume hardware operates at 100% uptime, nameplate fleet efficiency of 15 J/TH, weighted average power cost of $0.036, overheads of $81m, REC costs of $9m, power consumption of 484MW, network hashrate of 732 EH/s, block reward of 3.125 BTC per block, transaction fees of 0.1 BTC per block, pool fees of 0.15%. $32m illustrative contribution from AI Cloud Services calculated as illustrative revenue less assumed electricity costs (excludes all other site, overhead and REC costs) and assumes hardware is fully utilized by customers and operating at 100% uptime, 1.25kW power draw per GPU, $0.045/kWh electricity costs and $2.00 per GPU hour revenue assumption. REC costs at 31 EH/s assume $3/MWh pricing based on historical purchases. Weighted average power cost assumption reflects $0.045/kWh costs in British Columbia and $0.0325/kWh costs in Texas - latter in line with actual net electricity costs of $0.031, $0.032 and $0.0306 in Aug, Sep and Oct 2024, respectively. Historical power prices achieved and power price assumptions may or may not materialize in the future. This press release should be read strictly in conjunction with the forward-looking statements disclaimer on page 6. EBITDA and Adjusted EBITDA are non-IFRS metrics. See page 4 for a reconciliation to the nearest IFRS metric. Net electricity cost is a non-IFRS metric. See page 5 for a reconciliation to the nearest IFRS metric. Other costs exclude one-off other expense items. See page 4 for a reconciliation to the nearest IFRS metric. Reflects USD equivalent, unaudited cash and cash equivalents as of September 30, 2024 and October 31, 2024 respectively. Non-IFRS metric reconciliation Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or IREN’s future financial or operating performance. For example, forward-looking statements include but are not limited to the Company’s business strategy, expected operational and financial results, and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause IREN’s actual results, performance or achievements to be materially different from any future results performance or achievements expressed or implied by the forward looking statements, including, but not limited to: Bitcoin price and foreign currency exchange rate fluctuations; IREN’s ability to obtain additional capital on commercially reasonable terms and in a timely manner to meet its capital needs and facilitate its expansion plans; the terms of any future financing or any refinancing, restructuring or modification to the terms of any future financing, which could require IREN to comply with onerous covenants or restrictions, and its ability to service its debt obligations, any of which could restrict its business operations and adversely impact its financial condition, cash flows and results of operations; IREN’s ability to successfully execute on its growth strategies and operating plans, including its ability to continue to develop its existing data center sites and to diversify and expand into the market for high performance computing (“HPC”) solutions it may offer (including the market for AI Cloud Services); IREN’s limited experience with respect to new markets it has entered or may seek to enter, including the market for HPC solutions (including AI Cloud Services); expectations with respect to the ongoing profitability, viability, operability, security, popularity and public perceptions of the Bitcoin network; expectations with respect to the profitability, viability, operability, security, popularity and public perceptions of any current and future HPC solutions (including AI Cloud Services) that IREN offers; IREN’s ability to secure and retain customers on commercially reasonable terms or at all, particularly as it relates to its strategy to expand into markets for HPC solutions (including AI Cloud Services); IREN’s ability to manage counterparty risk (including credit risk) associated with any current or future customers, including customers of its HPC solutions (including AI Cloud Services) and other counterparties; the risk that any current or future customers, including customers of its HPC solutions (including AI Cloud Services), or other counterparties may terminate, default on or underperform their contractual obligations; Bitcoin global hashrate fluctuations; IREN’s ability to secure renewable energy, renewable energy certificates, power capacity, facilities and sites on commercially reasonable terms or at all; delays associated with, or failure to obtain or complete, permitting approvals, grid connections and other development activities customary for greenfield or brownfield infrastructure projects; IREN’s reliance on power and utilities providers, third party mining pools, exchanges, banks, insurance providers and its ability to maintain relationships with such parties; expectations regarding availability and pricing of electricity; IREN’s participation and ability to successfully participate in demand response products and services and other load management programs run, operated or offered by electricity network operators, regulators or electricity market operators; the availability, reliability and/or cost of electricity supply, hardware and electrical and data center infrastructure, including with respect to any electricity outages and any laws and regulations that may restrict the electricity supply available to IREN; any variance between the actual operating performance of IREN’s miner hardware achieved compared to the nameplate performance including hashrate; IREN’s ability to curtail its electricity consumption and/or monetize electricity depending on market conditions, including changes in Bitcoin mining economics and prevailing electricity prices; actions undertaken by electricity network and market operators, regulators, governments or communities in the regions in which IREN operates; the availability, suitability, reliability and cost of internet connections at IREN’s facilities; IREN’s ability to secure additional hardware, including hardware for Bitcoin mining and any current or future HPC solutions (including AI Cloud Services) it offers, on commercially reasonable terms or at all, and any delays or reductions in the supply of such hardware or increases in the cost of procuring such hardware; expectations with respect to the useful life and obsolescence of hardware (including hardware for Bitcoin mining as well as hardware for other applications, including any current or future HPC solutions (including AI Cloud Services) IREN offers); delays, increases in costs or reductions in the supply of equipment used in IREN’s operations; IREN’s ability to operate in an evolving regulatory environment; IREN’s ability to successfully operate and maintain its property and infrastructure; reliability and performance of IREN’s infrastructure compared to expectations; malicious attacks on IREN’s property, infrastructure or IT systems; IREN’s ability to maintain in good standing the operating and other permits and licenses required for its operations and business; IREN’s ability to obtain, maintain, protect and enforce its intellectual property rights and confidential information; any intellectual property infringement and product liability claims; whether the secular trends IREN expects to drive growth in its business materialize to the degree it expects them to, or at all; any pending or future acquisitions, dispositions, joint ventures or other strategic transactions; the occurrence of any environmental, health and safety incidents at IREN’s sites, and any material costs relating to environmental, health and safety requirements or liabilities; damage to IREN’s property and infrastructure and the risk that any insurance IREN maintains may not fully cover all potential exposures; ongoing proceedings relating in part to the default, and any future litigation, claims and/or regulatory investigations, and the costs, expenses, use of resources, diversion of management time and efforts, liability and damages that may result therefrom; IREN's failure to comply with any laws including the anti-corruption laws of the United States and various international jurisdictions; any failure of IREN's compliance and risk management methods; any laws, regulations and ethical standards that may relate to IREN’s business, including those that relate to Bitcoin and the Bitcoin mining industry and those that relate to any other services it offers, including laws and regulations related to data privacy, cybersecurity and the storage, use or processing of information and consumer laws; IREN’s ability to attract, motivate and retain senior management and qualified employees; increased risks to IREN’s global operations including, but not limited to, political instability, acts of terrorism, theft and vandalism, cyberattacks and other cybersecurity incidents and unexpected regulatory and economic sanctions changes, among other things; climate change, severe weather conditions and natural and man-made disasters that may materially adversely affect IREN’s business, financial condition and results of operations; public health crises, including an outbreak of an infectious disease (such as COVID-19) and any governmental or industry measures taken in response; IREN’s ability to remain competitive in dynamic and rapidly evolving industries; damage to IREN’s brand and reputation; expectations relating to Environmental, Social or Governance issues or reporting; the costs of being a public company; the increased regulatory and compliance costs of IREN ceasing to be a foreign private issuer and an emerging growth company, as a result of which we will be required, among other things, to file periodic reports and registration statements on U.S. domestic issuer forms with the SEC commencing with our next fiscal year, prepare our financial statements in accordance with U.S. GAAP rather than IFRS, and to modify certain of our policies to comply with corporate governance practices required of U.S. domestic issuers; and other important factors discussed under the caption “Risk Factors” in IREN’s annual report on Form 20-F filed with the SEC on August 28, 2024 as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investor Relations section of IREN’s website at https://investors.iren.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this investor update. Any forward-looking statement that IREN makes in this investor update speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise. Non-IFRS Financial Measures This press release includes non-IFRS financial measures, including Net electricity costs, Adjusted EBITDA and Adjusted EBITDA Margin. We provide these measures in addition to, and not as a substitute for, measures of financial performance prepared in accordance with IFRS. There are a number of limitations related to the use of Net electricity costs, Adjusted EBTIDA and Adjusted EBITDA Margin. For example, other companies, including companies in our industry, may calculate these measures differently. The Company believes that these measures are important and supplement discussions and analysis of its results of operations and enhances an understanding of its operating performance. EBITDA is calculated as our IFRS profit/(loss) after income tax expense, excluding interest income, finance expense and non-cash fair value loss and interest expense on hybrid financial instruments, income tax expense, depreciation and amortization, which are important components of our IFRS profit/(loss) after income tax expense. Further, “Adjusted EBITDA” also excludes share-based payments expense, which is an important component of our IFRS profit/(loss) after income tax expense, foreign exchange gains and losses, impairment of assets, certain other non-recurring income, loss on disposal of property, plant and equipment, gain on disposal of subsidiaries, unrealized fair value gains and losses on financial assets and certain other expense items. Net electricity costs is calculated as our IFRS Electricity charges net of Realized gain/(loss) on financial asset, ERS revenue (included in Other income) and ERS fees (included in Other operating expenses), and excludes the cost of Renewable Energy Certificates (RECs). About IREN IREN is a leading data center business powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy. Bitcoin Mining: providing security to the Bitcoin network, expanding to 50 EH/s in H1 2025. Operations since 2019. AI Cloud Services: providing cloud compute to AI customers, 1,896 NVIDIA H100 & H200 GPUs. Operations since 2024. Next-Generation Data Centers : 360MW of operating data centers, expanding to 810MW in H1 2025. Specifically designed and purpose-built infrastructure for high-performance and power-dense computing applications. Technology : technology stack for performance optimization of AI Cloud Services and Bitcoin Mining operations. Development Portfolio: 2,310MW of grid-connected power secured across North America, >1,000 acre property portfolio and additional development pipeline. 100% Renewable Energy (from clean or renewable energy sources or through the purchase of RECs) : targets sites with low-cost & underutilized renewable energy, and supports electrical grids and local communities. Contacts To keep updated on IREN’s news releases and SEC filings, please subscribe to email alerts at https://iren.com/investor/ir-resources/email-alerts ."I have returned," he declared, his words ringing with a sense of determination and purpose. "The road may have been long and arduous, but I stand before you today with renewed vigor and enthusiasm. The challenges we face may be great, but so too are the opportunities that lie ahead."
German security and intelligence chiefs are due on Monday to face questioning about the car-ramming attack that killed five people and wounded more than 200 at a Christmas market 10 days ago. They will be quizzed about possible missed clues and security failures before the December 20 attack in the eastern city of Magdeburg, where police arrested the 50-year-old Saudi psychiatrist Taleb al-Abdulmohsen at the scene. Interior Minister Nancy Faeser, Saxony-Anhalt state officials, and the heads of Germany's domestic and foreign intelligence services are expected to face a closed-door committee hearing in parliament from 1200 GMT. Abdulmohsen is the only suspect in the attack in which a rented BMW sport utility vehicle ploughed through the crowd of revellers at high speed, leaving a trail of bloody carnage. Investigators have yet to declare a suspected motive in the assault that used a motor vehicle as a weapon, which recalled past jihadist attacks, including in Berlin and in the French city of Nice in 2016. Abdulmohsen, by contrast, has voiced strongly anti-Islam views, sympathies with the far right, and anger at Germany for allowing in too many Muslim war refugees and other asylum-seekers. According to unconfirmed media reports citing unnamed German security sources, he has in the past been treated for mental illness and tested positive for drug use on the night of his arrest. The Saudi suspect has been remanded in custody in a top-security facility on five counts of murder and 205 counts of attempted murder, prosecutors said, but not so far on terrorism-related charges. Chancellor Olaf Scholz, who faces elections in February, has declared that Germany needs to "investigate whether this terrible act could have been prevented". "No stone must be left unturned," he told news portal t-online on Friday, echoing similar comments by Faeser. - 'Repeated clues' - Scholz said that "over the years, there have been repeated clues" about the suspect, adding that "we must examine very carefully whether there were any failings on the part of the authorities in Saxony-Anhalt or at the national level". German media digging through Abdulmohsen's past and his countless social media postings have found expressions of anger and frustration, and threats of violence against German citizens and politicians. Saudi Arabia said it had repeatedly warned Germany about Abdulmohsen, who came to Germany in 2006 and was granted refugee status 10 years later. A source close to the Saudi government told AFP that the kingdom had in the past sought his extradition. Germany has not officially commented on this claim, but would usually deny requests to send people granted asylum back to the country they fled. Abdulmohsen had a history of brushes with the law and court appearances in Germany, media have reported, including for threats of violence. German police have said they had contacted Abdulmohsen in September 2023 and October 2024, and then repeatedly tried but failed to meet him again in December. Police hold such meetings with people deemed a potential threat to make clear they are under close watch and to deter misconduct. Ahead of the German elections, the Christmas market bloodshed has reignited fierce debate about immigration and security, after several deadly knife attacks this year blamed on Islamist extremists. The head of the conservative opposition, Friedrich Merz, wrote that, whether the attacker was a jihadist or an anti-Islam activist, "conflicts are being fought out on German soil... We have to stop this!" bur/fz/bc
3D Systems Announces Date of Third Quarter 2024 Financial Results37 killed, over 100 injured as Shia-Sunni clashes rock PakistanAs it's actor s birthday on Sunday, his wife and actor Kriti Kharbanda unleashed her lovey-dovey avatar and penned a love-filled post for him. Taking to Instagram, Kriti wrote, "Happy birthday to my favourite person, best friend, lover, companion, tour guide, chef, my anything and everything! Kya karti main tere Bina! Tu hai toh Sab hai, Tu Nahin toh kuch Nahin! She also treated fans to her and Pulkit's images which are enough to make anyone go gaga. In no time, Kriti's comment section filled up with heartfelt reactions from netizens. "Aww! Happy bday @pulkitsamrat !! Lots of love to you," actor-singer Sophie Choudry commented. "Beautiful," a fan wrote. Pulkit Samrat responded to his wife, Kriti's wish with a cute comment. "Love you Mrs. Samrat! (red heart emojis)," he wrote. Pulkit and Kriti married on March 15 in Manesar. Their wedding festivities took place in the presence of close family members and friends. Actors Ali Fazal, Richa Chadha, and Manjot Singh were also a part of the functions. Kriti and Pulkit have appeared together in several films, like 'Veerey Ki Wedding', 'Taish', and 'Pagalpanti'. Reportedly, their love story began during the filming of 'Pagalpanti' in 2019 and since then they have been treating fans to their heartwarming moments on social media.
THE MOJ: It's Thanksgiving down south, and the Canucks aren't looking free and clear
Georgia police fire water cannons at pro-EU protestersNico Iamaleava throws 4 TD passes to lead No. 10 Tennessee over UTEP 56-0URBN Reports Record Q3 Sales and Earnings
One of the most exciting features of the Xiaomi YU7 is its advanced autonomous driving capabilities. Equipped with state-of-the-art sensors, cameras, and artificial intelligence technology, the YU7 promises to provide a safe and seamless driving experience. From adaptive cruise control to lane-keeping assist, the YU7 is designed to take the stress out of driving and give drivers peace of mind on the road.
NEW YORK (AP) — Federal investigators in New York are seeking records from the manufacturer of an AI-powered weapons scanner that was briefly deployed this summer in New York City’s subway system. The tech company, Evolv, revealed in a public filing that it “received a voluntary document request from the U.S. Attorney’s Office of the Southern District of New York” on Nov. 1. It was unclear what the request was seeking. The U.S. Attorney’s Office in Manhattan declined to comment on the request, which was first reported by the Daily News. In an emailed statement, a spokesperson for Evolv said the company was “pleased to cooperate with all government agencies and regulators who request information from our company.” The Massachusetts-based tech company, whose scanners have also been used at sports stadiums and schools, has faced allegations of misconduct. Last month, Evolv’s board of directors fired its chief executive following an internal investigation that found certain sales had been “subject to extra-contractual terms and conditions.” On Tuesday, the company announced it had resolved a previous probe launched by the Federal Trade Commission last year over allegations of deceptive marketing practices. The company is also under separate investigation by the Securities and Exchange Commission. Despite the legal and regulatory scrutiny, New York City Mayor Eric Adams announced a pilot program this summer to bring a handful of scanners to the city’s subways to deter gun violence. The initiative drew immediate criticism from civil liberties groups who said the searches were unconstitutional, along with questions about its efficacy. In October, the city revealed the scanners did not detect any passengers with firearms — but falsely alerted more than 100 times. At the time, a spokesperson for the New York Police Department said it was still “evaluating the outcome of the pilot” and had not entered into any contract with Evolv.INVESTIGATION NOTICE: Kaskela Law LLC Announces Shareholder Investigation of Innovid Corp. ...Among elites across the ideological spectrum, there's one point of unifying agreement: Americans are bitterly divided. What if that's wrong? What if elites are the ones who are bitterly divided while most Americans are fairly unified? History rarely lines up perfectly with the calendar (the "sixties" didn't really start until the decade was almost over). But politically, the 21st century neatly began in 2000, when the election ended in a tie and the color coding of electoral maps became enshrined as a kind of permanent tribal color war of "red vs. blue." Elite understanding of politics has been stuck in this framework ever since. Politicians and voters have leaned into this alleged political reality, making it seem all the more real in the process. I loathe the phrase "perception is reality," but in politics it has the reifying power of self-fulfilling prophecy. Like rival noble families in medieval Europe, elites have been vying for power and dominance on the arrogant assumption that their subjects share their concern for who rules rather than what the rulers can deliver. In 2018, the group More in Common published a massive report on the "hidden tribes" of American politics. The wealthiest and whitest groups were "devoted conservatives" (6%) and "progressive activists" (8%). These tribes dominate the media, the parties and higher education, and they dictate the competing narratives of red vs. blue, particularly on cable news and social media. Meanwhile, the overwhelming majority of Americans resided in, or were adjacent to, the "exhausted majority." These people, however, "have no narrative," as David Brooks wrote at the time. "They have no coherent philosophic worldview to organize their thinking and compel action." Lacking a narrative might seem like a very postmodern problem, but in a postmodern elite culture, postmodern problems are real problems. It's worth noting that red vs. blue America didn't emerge ex nihilo. The 1990s were a time when the economy and government seemed to be working, at home and abroad. As a result, elites leaned into the narcissism of small differences to gain political and cultural advantage. They remain obsessed with competing, often apocalyptic, narratives. That leaves out most Americans. The gladiatorial combatants of cable news, editorial pages and academia, and their superfan spectators, can afford these fights. Members of the exhausted majority are more interested in mere competence. I think that's the hidden unity elites are missing. This is why we keep throwing incumbent parties out of power: They get elected promising competence but get derailed -- or seduced -- by fan service to, or trolling of, the elites who dominate the national conversation. There's a difference between competence and expertise. One of the most profound political changes in recent years has been the separation of notions of credentialed expertise from real-world competence. This isn't a new theme in American life, but the pandemic and the lurch toward identity politics amplified distrust of experts in unprecedented ways. This is a particular problem for the left because it is far more invested in credentialism than the right. Indeed, some progressives are suddenly realizing they invested too much in the authority of experts and too little in the ability of experts to provide what people want from government, such as affordable housing, decent education and low crime. The New York Times' Ezra Klein says he's tired of defending the authority of government institutions. Rather, "I want them to work." One of the reasons progressives find Trump so offensive is his absolute inability to speak the language of expertise -- which is full of coded elite shibboleths. But Trump veritably shouts the language of competence. I don't mean he is actually competent at governing. But he is effectively blunt about calling leaders, experts and elites -- of both parties -- stupid, ineffective, weak and incompetent. He lost in 2020 because voters didn't believe he was actually good at governing. He won in 2024 because the exhausted majority concluded the Biden administration was bad at it. Nostalgia for the low-inflation pre-pandemic economy was enough to convince voters that Trumpian drama is the tolerable price to pay for a good economy. About 3 out of 4 Americans who experienced "severe hardship" because of inflation voted for Trump. The genius of Trump's most effective ad -- "Kamala is for they/them, President Trump is for you" -- was that it was simultaneously culture-war red meat and an argument that Harris was more concerned about boutique elite concerns than everyday ones. If Trump can actually deliver competent government, he could make the Republican Party the majority party for a generation. For myriad reasons, that's an if so big it's visible from space. But the opportunity is there -- and has been there all along.
AGCO Co. (NYSE:AGCO) Shares Sold by Mutual of America Capital Management LLC
The murder of UnitedHealthcare's CEO in New York on Wednesday has ignited a firestorm of fury online about the health insurance industry. Brian Thompson was shot and killed Wednesday morning, but many social media users have exhibited a morbid indifference or even cheerfulness in reacting to his death. "Of course I would have been happy to send my condolences after the United Healthcare CEO was killed," one person posted in a video on TikTok. "Unfortunately, sympathy requires a prior authorization, and I have to deny that request." One person commented on previous Scripps News reporting saying, "Private health insurance is evil so... this doesn't concern me 1 bit." RELATED STORY | 'Depose,' 'Deny,' 'Defend' reportedly written on shell casings in slaying of UnitedHealthcare CEO Many other online users posted about their challenging experiences with UnitedHealthcare, including stories of being denied coverage by the provider. The words "deny," "defend" and "depose" were written on ammunition the shooter used, according to law enforcement. Those words caused some on social media to draw a connection to a 2010 book with a similar title, "Delay, Deny, Defend," about insurance companies failing to pay claims. Denial of health insurance claims have been increasing across the board, according to a U.S. Senate Investigative report found by Scripps News. It found UnitedHealthcare's denial rate for post-acute care climbed from almost 11% in 2020 to nearly 23% in 2022, and Humana's denial rate for long-term post-acute care grew by 54% during that same time span. A new survey from The Commonwealth Fund found nearly one in four older U.S. adults spent at least $2,000 out of pocket on health care last year. The online response to Thompson's murder isn't a surprise to Stephan Meier, the chair of the management division at Columbia Business School, given the industry in which the CEO worked. "It's not so surprising if you look at, you know, surveys about what industries are liked or not, are trusted or not, and health insurers are not at the top of that list, to put it mildly," Meier said. There are signs the industry is taking notice of the backlash. CVS Health has taken down photos of its executives posted to its website, as security concerns grow for industry leaders.
Prime Minister James Marape has officially released his 2025 address to the people of Papua New Guinea, highlighting the country’s 50 years of independence and reflects on the country’s achievements in the last five years. My Fellow Papua New Guineans, As the sun rises on 2025, we stand at a monumental juncture in our history—our Golden Jubilee. This year, we celebrate 50 years of independence, a journey that began in 1975 when Papua New Guinea became a sovereign nation. It is a time to honor our past, recognise our achievements, and recommit ourselves to the ideals that our founding fathers envisioned: unity, progress, and prosperity for all. Reflecting on 50 Years of Nationhood In 1975, a dream was realised as Papua New Guinea claimed its rightful place among the community of nations. Under the leadership of the visionary Sir Michael Somare and other courageous patriots, our country declared its independence, not through conflict, but with dignity, peace, and unity. Ours has been a journey marked by trials and triumphs. From the challenges of nation-building and the Bougainville Crisis to the global economic shifts of recent decades, we have risen to each challenge with resilience. Today, we stand united as a people of immense cultural diversity, with over 800 languages and traditions woven together into a rich tapestry of shared identity. This diversity is not a source of division—it is our greatest strength. It is the essence of who we are as Papua New Guineans and will continue to guide us as we move forward into the next chapter of our history. Acknowledging the Role of the Church As we commemorate this historic milestone, we must also acknowledge the pivotal role that the Church has played in shaping Papua New Guinea’s moral and social fabric over the past five decades. From education to healthcare, from fostering unity to providing spiritual guidance, the Church has been a cornerstone of our nation’s development. In 2025, the Church will lead key aspects of our Golden Jubilee celebrations. In August, churches across the country will host a Month of Prayer, Repentance, and Healing, culminating in the National Repentance Day on August 26. This will bring our people together in a spirit of humility and renewal. Furthermore, on August 30, 2025, Papua New Guinea and Bougainville will observe a Day of Reconciliation—a profound moment of healing and unity as we strengthen bonds and honor our shared commitment to peace and prosperity. Achievements of the Last Five Years As we reflect on our journey, we must also celebrate the significant progress made in the last five years under the Marape-Rosso Government. These achievements reflect the strength of our collective efforts and our commitment to building a better Papua New Guinea: Economic Growth: The national economy grew from K79.6 billion in 2019 to K122 billion in 2024, supported by resource projects like PNG LNG and reforms in agriculture, fisheries, and SMEs. Infrastructure Development: Through the Connect PNG Programme, over 2,400 kilometres of highways and 93 bridges have been completed, linking rural communities to essential services and markets. Education: We have made significant strides in transforming our education system to ensure no child is left behind. The STEM (Science, Technology, Engineering, and Mathematics) programmes and the establishment of Schools of Excellence are equipping our youth with the knowledge and skills needed to thrive in a modern world. The expansion of Flexible Open Distance Education (FODE) has brought learning opportunities to students in remote areas, while the Higher Education Loan Programme ( HELP) has made tertiary education accessible for thousands of young Papua New Guineans. These initiatives reaffirm our commitment to leaving no child behind and empowering the next generation to build a prosperous Papua New Guinea. Health: As we celebrate 50 years of independence, our state-of-the-art facilities for heart and cancer treatment will be operational in Papua New Guinea for the first time, eliminating the need for our people to seek these critical services overseas. At the same time, we continue to expand access to modern basic healthcare by upgrading rural health centers and hospitals nationwide. These efforts underscore our dedication to providing quality healthcare for every Papua New Guinean, ensuring that no one is left behind. Climate Leadership: Papua New Guinea has emerged as a global leader in sustainability, pioneering initiatives in carbon trading, renewable energy, and environmental conservation. These achievements demonstrate what we can accomplish when we unite around a shared vision and purpose. Celebrating Our Golden Jubilee 2025 will be a year of reflection, celebration, and forward planning. To ensure that all Papua New Guineans feel included in this historic milestone, a range of events and initiatives will take place: Economic Growth and Jobs: Investments in infrastructure, agriculture, and SMEs to drive job creation and economic diversification. Strengthening Security: Enhanced funding for police, defense, and judiciary services to ensure safety and justice for all. Cost-of-Living Relief: Removing GST on essential goods like rice, chicken, and tinned fish to ease household pressures. Sustainability: Initiatives in renewable energy and climate solutions to protect our environment for future generations. Forging Ahead: A Clear Vision for the Next 20 Years As we look to the future, we must reflect on our journey and set clear goals for the next phase of our development. Within the framework of Vision 2050, we will focus on the period from 2025 to 2045 to lay the foundation for transformative economic growth. This phase will prioritise: Manufacturing: Ensuring our resources are processed locally, creating jobs and increasing export value. Special Economic Zones: Establishing zones that foster industrialisation and economic diversification. Workforce Growth: Expanding education and training to equip our people with the skills needed for a modern economy. Infrastructure Development: Continuing the Connect PNG Programme to provide markets, healthcare, and education to all communities. By catching up on missed opportunities from the first 15 years of Vision 2050, we will propel our nation from its 50th to its 70th anniversary with a visible, actionable blueprint for progress. A Call to Unity and Patriotism Fellow Papua New Guineans, this Golden Jubilee is not just a celebration—it is a call to action. It reminds us of the sacrifices of our ancestors and challenges us to honor their legacy by building a nation that is strong, inclusive, and prosperous. Let us unite as one people, one nation, with a shared vision for the future. Let the drumbeats of our kundu resonate across the land, and let the vibrant colors of our bilums reflect our pride and hope. Together, we will write the next chapter of Papua New Guinea’s history—a chapter of progress, unity, and opportunity for all. May God bless you all, and may God bless our beloved Papua New Guinea.
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