LONDON (Reuters) - SailGP will launch its fifth season in Dubai this weekend with Rolex as its title partner, reinforcing a relationship with the Swiss luxury watchmaker since the birth of the league in 2019. Rolex, which has been involved in the sport of sailing for nearly 70 years, will also become title partner for the Los Angeles grand prix in mid-March next year and will continue as the official timepiece for SailGP under the 10-year deal. "What they really like about SailGP is it's modern, it's attracting a larger and a younger audience and the fact that this is an annual championship," said SailGP CEO Russell Coutts, adding Rolex had become "inextricably linked with the league". Coutts told Reuters that with SailGP into a fifth season it was able to provide the certainty to sponsors, venues and team owners that had been lacking from sailing events in the past. SailGP, in which teams race state-of-the-art, one-design 50-foot foiling catamarans at high-profile venues around the world, was founded and backed by Oracle's Larry Ellison, who was earlier involved in successful U.S. America's Cup campaigns. Coutts said there were still other areas where SailGP was in talks to sign up partners, highlighting energy and financial services as possible areas of interest. "We think we've got a really unique property in some regards," Coutts said, pointing to the on-site fan experience and hospitality which form part of the SailGP events. "The sport hasn't had a platform like this where they could activate and plan ... a 10-year arrangement, it just hasn't existed before now, not an entity that's professionally televised and marketed in a consistent way," he added. With Brazil and Italy joining the league for season five, there will be a total of 12 teams competing from early 2025, with SailGP offering bonus prize money of $7 million. Alterations to the foils which lift the catamarans out of the water mean that the F50s are expected to "fly" even faster this season than last, with Coutts predicting speeds of 110 kilometres per hour in the right wind conditions. 'MORE VISIBLE' Joël Aeschlimann, International Sponsorship Manager for Rolex, told Reuters that the brand will be "much more visible in and around SailGP in the coming years". Its distinctive logo is prominently on show on the jib sails of the catamarans. "We were really happy to be one of the founding partners and had a strong belief that the vision that Russell and Larry had would work," Aeschlimann said of SailGP. Aeschlimann said this faith had paid off and the package that SailGP has assembled allows for enjoyment whether watched from the shore, on screen or from the water, encompassing all the ingredients that a modern sports event needs. A combination of the best sailors, technological innovation and the mix of human emotions and achievements were among the elements that made SailGP appealing to Rolex, he added. Rolex is title sponsor of 15 major international sailing events, including the Sydney-Hobart and Fastnet races, and partners institutions including the New York Yacht Club and Britain's Royal Yacht Squadron. It also has ties with individuals involved in SailGP such as Ben Ainslie, who owns and runs the British team, Tom Slingsby, who skippers Australia's F50, and double Olympic gold medallist Hannah Mills, who is Britain's team strategist. Rolex had been partner to Formula 1 since 2013 but was replaced this year by French luxury giant LVMH, which agreed to a 10-year sponsorship deal. (Reporting by Alexander Smith; Additional reporting by Amy Tennery in New York; Editing by Ed Osmond)
Lebawit Lily Girma | (TNS) Bloomberg News When winter rolls around, travelers predictably turn their attention to beaches. And this year, it’s the destination that comedian Tony Hinchcliffe called “a floating island of garbage in the middle of the ocean” that’s experiencing outsize demand from Americans planning a warm island vacation. Talk about trashing stereotypes. Related Articles Travel | Would you pay $700 a night to sleep under the stars at this Colorado resort? Travel | Thailand’s starring role in ‘The White Lotus’ is about to pay off Travel | 5 under-the-radar travel destinations the UN says you should visit Travel | Gift ideas for people planning their next trip Travel | Lights and decor, réveillon meals make Christmastime special in New Orleans Puerto Rico has recovered overseas visitors (excluding those from Canada and Mexico) faster than any U.S. state or territory — a staggering 85% increase over its 2019 overseas inbound visitor levels as of 2023, according to an October study from the U.S. National Travel and Tourism Office. There are now more daily flights from the U.S. West Coast, and hotel bookings are 6% higher so far in this last quarter of 2024 year-over-year. It’s a trifecta of tourism growth: more visitors, but also longer stays and a higher spend that reached a record $9.8 billion in 2023, boosting small businesses as well as major brands. “We don’t have a slow season in Puerto Rico anymore,” says Brad Dean, chief executive officer at Discover Puerto Rico. Even if they’re not booking, people are dreaming about “La Isla.” By tracking flight searches for trips between November 2024 and February 2025, a measure of “inspirational” demand, tourism intelligence company Mabrian Technologies reports Puerto Rico is up 9% compared with the same period last year and leads Barbados, the Dominican Republic, Jamaica and the Bahamas in the Caribbean proper. Only Costa Rica ranked higher in the wider region. Dean attributes Puerto Rico’s ongoing tourism growth to a strategic effort to reposition the island’s brand as more than a sun-and-sea destination, starting back in 2018. That led to the Live Boricua campaign, which began in 2022 and leaned heavily on culture, history and cuisine and was, Dean says, “a pretty bold departure” in the way Puerto Rico was showcased to travelers. He adds that at least $2 billion in tourism spend is linked to this campaign. “We (also) haven’t shied away from actively embracing the LGBTQ+ community, and that has opened up Puerto Rico to audiences that may not have considered the Caribbean before,” Dean says. Hotels are preparing to meet this growing demand: A number of established boutique properties are undergoing upgrades valued between $4 million and more than $50 million, including Hotel El Convento; La Concha, which will join the Marriott Autograph Collection; Condado Vanderbilt Hotel; and the Wyndham Grand Rio Mar. That’s in addition to ultra-chic options that are coming online in 2025, including the adults-only Alma San Juan, with rooms overlooking Plaza Colón in the heart of Old San Juan, and the five-star Veranó boutique hotel in San Juan’s trendy Santurce neighborhood. The beachfront Ritz-Carlton San Juan in Isla Verde will also be reopening seven years after Hurricane Maria decimated the island. The travel industry’s success is helping boost employment on the island, to the tune of 101,000 leisure and hospitality jobs as of September 2024, a 26% increase over pre-pandemic levels, according to the U.S. Bureau of Labor Statistics. Efforts to promote Puerto Rico’s provinces beyond the San Juan metro area — such as surfing hub Rincón on the west coast, historical Ponce on the south coast and Orocovis for nature and coffee haciendas in the central mountains —have spread the demand to small businesses previously ignored by the travel industry. Take Sheila Osorio, who leads workshops on Afro-Puerto Rican bomba music and dance at Taller Nzambi, in the town of Loíza, 15 miles east of San Juan; or Wanda Otero, founder of cheese-producing company Vaca Negra in Hatillo, an hour’s drive west of Old San Juan, where you can join a cheese-making workshop and indulge in artisanal cheese tastings. “The list of businesses involved in tourism has gone from 650 in 2018 to 6,100, many of which are artists and artisans,” Dean says. While New Yorkers and Miami residents have always been the largest visitor demographic, Dean says more mainland Americans now realize that going to Puerto Rico means passport-free travel to enjoy beaches, as well as opportunities to dine in Michelin-rated restaurants, hike the only rainforest in the U.S. and kayak in a bioluminescent bay. Visitors from Chicago and Dallas, for example, have increased by approximately 40% from July 1, 2023, to June 30, 2024, compared with the same period in 2022-2023, and more travelers are expected from Denver now that United Airlines Holdings Inc. has kicked off its first nonstop service to San Juan, beginning on Oct. 29. Previously, beach destinations that were easy to reach on direct flights from Denver included Mexico, Belize and California, but now Puerto Rico joins that list with a 5.5-hour nonstop route that cuts more than two hours from the next-best option. Given United Airlines’ hub in San Francisco, it could mean more travelers from the Golden State in the near future, too. In December, U.S. airlines will have 3,000 more seats per day to the territory compared with the same period last year, for a total of 84,731 — surpassing even Mexico and the Dominican Republic in air capacity, according to data from aviation analytics firm Cirium. Luis Muñoz Marín International Airport, the island’s primary gateway, is projecting a record volume of 13 million passengers by year’s end — far surpassing the 9.4 million it saw in 2019. As for Hinchcliffe’s “floating island of garbage” line, Dean says it was “a terribly insensitive attempt at humor” that transformed outrage into a marketing silver lining, with an outpouring of positive public sentiment and content on Puerto Rico all over social media. Success, as that old chestnut goes, may be the best revenge. “It was probably the most efficient influencer campaign we’ve ever had,” Dean says, “a groundswell of visitors who posted their photos and videos and said, ‘This is the Puerto Rico that I know.’” ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC. Click to share on Facebook (Opens in new window) Click to share on X (Opens in new window) Most Popular Distraught man tried to get police to shoot him, ultimately leading to shots fired in both directions Distraught man tried to get police to shoot him, ultimately leading to shots fired in both directions Youngkin wants to pull Virginia funding from ‘sanctuary cities’ Youngkin wants to pull Virginia funding from ‘sanctuary cities’ Isle of Wight teacher arrested on child porn charges Isle of Wight teacher arrested on child porn charges Woman dies, driver injured in James City County crash Woman dies, driver injured in James City County crash Colonial Williamsburg’s Grand Illumination has echoes across the US Colonial Williamsburg's Grand Illumination has echoes across the US Wrong-way driver on I-64 arrested, charged with driving under the influence Wrong-way driver on I-64 arrested, charged with driving under the influence David Teel: Pure genius or desperate folly? 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Former NFL player opens Newport News youth empowerment center Former NFL player opens Newport News youth empowerment center Trending Nationally President Joe Biden commutes sentences for two of Chicago area’s most notorious fraudsters Drone sightings reach Pennsylvania; Monroe County officials ask residents to report them to 911 How pythons and other invasive species may have spread farther in Florida due to hurricanes Snowboarder seriously injured in 47-foot fall from chairlift at Keystone Resort ‘Enron CEO’ Connor Gaydos hit in the face with pie in New York CityWealth technology provider Envestnet has officially become a private company. The firm announced Monday (Nov. 25) that it had closed its acquisition by affiliates of vehicles managed or advised by Bain Capital , a deal worth roughly $4.5 billion. “This represents an exciting new chapter in Envestnet’s history, paving the way for accelerated growth and building on our position as a leading wealth management platform in the industry,” Jim Fox , Envestnet’s board chair and interim CEO, said in a news release. Added Tom Sipp , Envestnet’s executive vice president: “Together with Bain Capital, Envestnet will continue to deliver on its mission, empowering firms and advisors with the wealth technology and solutions to holistically serve their clients.” The company had announced its plans to go private in July. Also taking part in the deal were Reverence Capital and Norwest, along with BlackRock, Fidelity Investments, Franklin Templeton and State Street Global Advisors. According to the release, Envestnet has $6.5 trillion in platform assets, more than 20 million accounts and serves more than 111,000 financial advisors. The company’s technology, advanced insights and comprehensive solutions are designed to help financial advisors improve business growth, productivity and provide better client outcomes. In other news from the financial advice world, PYMNTS spoke last month with Doug Brown , chief product officer, digital banking at Candescent , about the pressures consumers feel in seeking such advice, with many plagued by a fear of missteps. “The best partner is in fact the local community bank who understands them and their environment better than most,” Brown told PYMNTS CEO Karen Webster . “There’s been a lot of outreach from both banks and others trying to inform, but what they’re probably doing is creating a little bit more panic than rational help. That’s why consumers are seeking a company they can trust to guide through this.” Credit unions and smaller banks “want to be top of mind with the small businesses and the consumers in the communities they serve,” Brown added. These financial institutions, which have existing relationships with consumers, should be natural financial advisors. But research by PYMNTS Intelligence and NCR Voyix (as Candescent was once known) found that only 57% of customers looked to their banks for financial advice last year.
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You may well be familiar with 'Eyebrow Queen' Anastasia Soare, trusted to groom and shape the brows of Victoria Beckham , Kendall Jenner , Rosie Huntington-Whiteley and Kim Kardashian , among many others. Having immigrated to Los Angeles in the 1980s, she found work as an aesthetician at a salon in Beverly Hills. While offering facials, she realised that none of her clients were grooming their eyebrows. Applying knowledge learnt at art school and the famous 'Golden Ratio' – a mathematical principle about balance and proportion – she began shaping the arches of customers to create fuller, lifted and more flattering brows. After an appearance on T he Oprah Winfrey Show and a stellar write up in Vogue , she opened the Anastasia Beverly Hills Salon in 1997, then launched her eponymous brand in 2000. Still trusted by the A-list to shape and tame their brows, she recently hosted Victoria Beckham at her Beverly Hills home to celebrate 5 years of VB Beauty and 25 years of ABH. From favourites such as Brow Freeze, Dip Brow Pomade and Brow Wiz to the collection of eyeshadow palettes and complexion products, Anastasia Beverly Hills was founded on the premise that beauty relates to balance and proportion, not perfection. Soare is widely credited for fuelling the multi-million dollar brow category in the beauty industry. Through her celebrity clientele and product line, she has made a landmark contribution to beauty history. The company is reported to be worth $500 million and sells products in over 25 countries. With the brand now firmly established as a Beauty Editor and celebrity favourite it is running several offers to celebrate Black Friday , including: 20% off orders of £45+* 25% off orders of £60+* 30% Off orders of £75+* *all between 25 and 28 November Then 30% off everything from 29 November to 3 December, with an additional 15% off when you spend £80. Don't fear if you miss the Cyber Weekend rush, as there's 20% off everything for all HELLO! readers using the code HELLO20 at checkout until 31 December 2024. Stock up on the brand's famed brow products , treat yourself to a striking new red lipstick or invest in a kit to do a full look using ABH hero picks. To offer some inspiration, we've compiled ten Beauty Editor-approved items from Anastasia Beverly Hills , guaranteed to delight anyone on your list or provide the perfect pick-me-up for yourself... Having been a longtime fan of ABH I've used many of the products on this list and can attest to their cult status. While everything from the brand is available with 20% off, I've focused on the bestsellers and hero items to restock your makeup bag for the festive season and beyond. Why you should trust me With more than a decade of experience in women's media, I have a broad knowledge of the beauty industry, from skincare and colour cosmetics to haircare, body care, health and wellness. I adore experimenting with new makeup, whether it be the latest product going viral on TikTok or a launch from Rhode, Rare or Victoria Beckham Beauty. We hope you love the products we recommend. We may receive compensation via a service called Linkby when you click on the links in this article. We only collaborate with brands on Linkby that align with our values and develop products that our team approves of. Prices accurate and items in stock at time of publication.Consumers are often disappointed when their favorite food brands disappear from store shelves after filing for bankruptcy and going out of business. One of the most popular products that disappeared temporarily was Hostess Brands, which in 2012 filed bankruptcy, ceased operations, and liquidated. 💸 💰 Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 💸 When news of the demise of Hostess reached consumers, many people began stocking up on boxes of the bakery's products. Related: Another major auto parts brand files for Chapter 11 bankruptcy The company, which manufactured Wonder Bread, Twinkies, Ho Hos, and Ding Dongs, eventually sold all of its products and disappeared from stores for many months until J.M. Smucker in September 2012 agreed to purchase the defunct company for about $5.6 billion. More recently, major dairy company Borden Dairy filed bankruptcy in 2020 and 2022, and Dean Foods filed bankruptcy in 2019. Borden and Dean Foods sold their businesses in bankruptcy in 2020 but continued operating. Borden products can still be found in stores and Dean Foods' product labels, such as Dairy Pure, Land O'Lakes, and Friendly's, can also still be found in supermarkets. And now Hearthside Food Solutions, a major manufacturer of various snack and food products for distributors such as Mondelez Global, Kraft Heinz Foods, and Pepsico, on Nov. 22 filed for Chapter 11 bankruptcy protection with a restructuring support agreement that will hand 100% ownership of the company to its first-lien lenders. Hearthside Hearthside files for Chapter 11 bankruptcy Hearthside and 22 affiliates filed their petition in the U.S. Bankruptcy Court for the Southern District of Texas in Houston facing $2.1 billion in impending maturities of its first-lien revolver and first-lien term loan in November 2024 and May 2025, respectively, according to a declaration from Chief Restructuring Officer Robert M. Caruso. Related: Popular furniture chain closes stores in Chapter 11 bankruptcy The Downers Grove, Ill.-based manufacturer listed $1 billion to $10 billion in assets and liabilities in its petition, which includes $2.75 billion in funded debt obligations, $304.8 billion in lease obligations, and about $164 million in general unsecured debt. More bankruptcy news: Hearthside's annual revenue has grown from $145 million in 2009 to $3.3 billion in the 12 months ending Sept. 30, 2024, according to court papers. The debtor's largest unsecured creditors include U.S. Bank NA, owed $364.8 million in 8.5% unsecured notes; Mondelez, owed $15.2 million; Kraft Heinz Foods, owed $3.6 million; and Pepsico, owed $3.4 million. Hearthside cited operational challenges for its filing, including wage increases and inflation, industry headwinds, certain labor issues and transitions, and adverse publicity likely from the U.S. Department of Labor's investigation into alleged child labor law violations in 2023. The debtor, owned by private equity firms Charlesbank Partners and Partners Group, executed a restructuring support agreement with its first-lien lenders and second-lien term lenders to deleverage its capital structure to eliminate $1.9 billion of its debt and secure $200 million in exit capital, according to a statement. Hearthside seeks to obtain $300 million in debtor-in-possession financing from its first-lien lenders, which includes $150 million in new money and $150 million in converted first-lien loans on a dollar-for-dollar basis. The company has $212.9 million in cash on hand, which it hopes to tap during its bankruptcy case through approval of cash collateral use. The first-lien lenders will receive a $825 million first-lien exit term loan and 100% equity in the reorganized company in exchange for its $2.1 billion in first-lien secured claims. Second-lien term loan claims, owed $300 million, will receive their pro rata share of $18 million, senior unsecured note claims, owed $350 million, will receive their pro rata share of $21 million and general unsecured claims of about $164 million will receive their pro rata share of $2.4 million. All existing second-lien, senior unsecured notes, and general unsecured claims will be canceled. The debtor expects to emerge from bankruptcy in the first quarter of 2025. Founded in 2009, Hearthside operates 28 manufacturing facilities in 11 states that produce consumer packaged foods, such as nutrition bars, baked goods, frozen and refrigerated foods, snacks, and sauces. The company employs 12,100 workers. Related: Veteran fund manager sees world of pain coming for stocks
WASHINGTON – A ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top White House official said Friday. Biden administration officials said this month that at least eight telecommunications companies , as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. Recommended Videos But Anne Neuberger, the deputy national security adviser for cyber and emerging technologies, told reporters Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. The update from Neuberger is the latest development in a massive hacking operation that has alarmed national security officials, exposed cybersecurity vulnerabilities in the private sector and laid bare China's hacking sophistication. The hackers compromised the networks of telecommunications companies to obtain customer call records and gain access to the private communications of “a limited number of individuals." Though the FBI has not publicly identified any of the victims, officials believe senior U.S. government officials and prominent political figures are among those whose whose communications were accessed. Neuberger said officials did not yet have a precise sense how many Americans overall were affected by Salt Typhoon, in part because the Chinese were careful about their techniques, but a “large number" were in the Washington-Virginia area. Officials believe the goal of the hackers was to identify who owned the phones and, if they were “government targets of interest,” spy on their texts and phone calls, she said. The FBI said most of the people targeted by the hackers are "primarily involved in government or political activity.” Neuberger said the episode highlighted the need for required cybersecurity practices in the telecommunications industry, something the Federal Communications Commission is to take up at a meeting next month. “We know that voluntary cyber security practices are inadequate to protect against China, Russia and Iran hacking of our critical infrastructure,” she said. The Chinese government has denied responsibility for the hacking.In his new role, Dr. Greg Siourounis, who has played an instrumental role in the growth of Sui Foundation, will drive xMoney's expansion into providing access to better ways to move money through blockchain and its MiCA-compliant infrastructure xMoney's vision as the ultimate global, inter-bank, cross- crypto /fiat integrated payments platform will see it roll out a unified network for fiat and crypto payments backed by a native stablecoin , benefiting consumers, businesses, retailers and payment services VADUZ , Liechtenstein , Nov. 27, 2024 /PRNewswire/ -- xMoney Global , the global, inter-bank and cross crypto /fiat integrated payments platform has appointed award-winning economist Dr. Greg Siourounis as Co-Founder and CEO. The company is a Mastercard principal member, with strategic European licenses, such as e-Money and VASP. As the digital landscape continues to evolve with the coming MiCA regulation, xMoney Global intends to lead Europe into this new transformative EU regulated stablecoin era. Greg Siourounis will lead the integration of xMoney's advanced blockchain-enabled payments infrastructure with its upcoming stablecoin program. Stablecoins are a key driver of blockchain adoption in today's market, now surpassing Bitcoin , remittances, and PayPal in annual transaction volume. As such, xMoney's Global reputation positions it to bridge Web3 innovation with traditional finance, leading Europe into a new transformative EU regulated stablecoin era. Dr. Greg, who has played a pioneering role in the growth of Sui Foundation as its former Managing Director and who previously founded Everypay, will drive xMoney Global's next wave of growth. Beyond the standard reference of his academic work in 2024's Nobel Prize in Economics , Dr. Greg's career is also decorated with awards such as the 2005 Young Economist Award from The European Economic Association and the 2008 Austin Robinson Prize from The Royal Economic Society. His immediate target will be to focus on partnerships, regulatory alignment and market expansion, as xMoney Global looks to build a comprehensive payments platform that bridges legacy financial systems with the potential of decentralized finance. Commenting on his appointment, Dr. Greg Siourounis , CEO of xMoney Global , said, "As Europe prepares to embrace MiCA regulation, xMoney Global is positioned to redefine what compliant, secure, and seamless digital payments can be. Our goal is to deliver a solid and trusted ecosystem that combines the strengths of traditional finance with the flexibility of blockchain technology to create a future-ready payment experience." Beniamin Mincu , Co-founder of MultiversX , said, "xMoney Global's mission aligns perfectly with the vision of MultiversX to bring scalable and secure blockchain solutions to mainstream finance. This appointment marks a significant step toward building a more inclusive and resilient financial system." The launch of xMoney Global aims to offer a next-gen blockchain-as-a-service module backed by its native stablecoin , with key white-labeled services including acquiring, issuing, onramps/offramps and a sticky loyalty program, all backed by MultiversX's state-of-the-art sharding technology. Following the surge in crypto markets after Trump's pro- crypto Presidential win, xMoney will be ideally placed to accelerate real-world adoption as the easiest way for everyone (consumers, retail and e-commerce) to seamlessly access fiat and crypto currencies in an app, card or payment gateway. About xMoney Global: xMoney Global is a pioneering payments company and a Mastercard principal member with strategic European licenses, such as e-Money and VASP. xMoney Global aims to offer a seamless, secure, and future-focused payments ecosystem combining unique product focus, cutting-edge technology and strong compliance. Discover more at https://www.xmoney.com/ Media Contact: Essam Ali , essam@lunapr.io Luna PR Photo - https://mma.prnewswire.com/media/2568826/xMoney_Global.jpg View original content to download multimedia: https://www.prnewswire.com/news-releases/former-md-of-sui-foundation-greg-siourounis-joins-xmoney-global-as-co-founder-and-ceo-to-build-mica-regulated-stablecoin-platform-302317744.html SOURCE xMoney Global
‘Avoid night travels’ — NYSC DG warns corps membersPublished 4:26 pm Friday, December 27, 2024 By Data Skrive In one of the nine compelling games on the NBA card today, the Oklahoma City Thunder and Charlotte Hornets will play at Spectrum Center. Here you will find information on live coverage of all of today’s NBA action. Sign up for NBA League Pass to get access to games, live and on-demand, and more for the entire season and offseason. Watch ESPN originals, The Last Dance and more NBA content on ESPN+. Use our link to sign up for ESPN+ or the Disney bundle. Not all offers available in all states, please visit BetMGM for the latest promotions for your area. Must be 21+ to gamble, please wager responsibly. If you or someone you know has a gambling problem, contact 1-800-GAMBLER .
Market Alert: Actelis Networks Lands Expansion Orders for Washington DC Transportation Department Multi-Billion Dollar Partner 11-25-2024 11:16 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: ABNewswire TL;DR: Actelis Networks (NASDAQ: ASNS) has secured two new expansion orders from the Washington DC Department of Transportation (DDOT) in collaboration with M.C. Dean. This initiative reinforces Actelis' commitment to modernizing the city's traffic management infrastructure, utilizing its advanced hybrid-fiber solutions to enhance connectivity and optimize traffic flow in one of the nation's busiest urban environments. Actelis Networks (NASDAQ: ASNS) has announced the receipt of expansion orders from the Washington DC Department of Transportation (DDOT), marking a significant step in the ongoing modernization of the city's critical infrastructure. These new orders build on a previously announced $2.3 million project from May 2024, emphasizing Actelis' role as a trusted partner in enhancing transportation systems in the nation's capital. The collaboration with M.C. Dean, a prominent integrator specializing in advanced cyber-physical systems, is pivotal in delivering innovative solutions tailored to the challenges of traffic congestion in Washington DC-one of the most congested cities in the United States, according to a report from the Texas A&M Transportation Institute. With a growing population and heavy tourist traffic, effective management of roadways is essential for improving safety and efficiency. "Washington, DC's complex traffic environment necessitates innovative solutions for managing roadways," said Tuvia Barlev, Chairman and CEO of Actelis. "The backbone of effective traffic management systems is reliable, far-reaching network connectivity. Actelis enables DDOT to optimize traffic flow, improve safety, and enhance data collection using tools such as signal timing and traffic cameras." The recent expansion into DDOT's infrastructure comes at a time when Actelis is experiencing significant momentum within the industry. Earlier this year, the company achieved the National Institute of Standards and Technology (NIST) certification for data cybersecurity, showcasing its commitment to providing secure and resilient networking solutions. Additionally, Actelis has been successful in securing major contracts, such as the order for the City of Napa's intelligent traffic management system, which further underscores its capabilities in enhancing urban connectivity. Most recently, the company reported a remarkable 200% growth in q3 revenues, reflecting strong demand for its innovative hybrid-fiber solutions across diverse sectors. Actelis' cyber-hardened hybrid-fiber networking technology stands out by providing fiber-grade performance while utilizing existing wiring, thus avoiding the lengthy and costly process of laying new cables. This capability allows for the rapid deployment of high-demand applications, such as data-intensive traffic monitoring systems and advanced traffic cameras, making a substantial impact on the city's ability to manage its complex traffic environment. Barlev further noted, "Washington, DC has now become a showcase for Actelis' hybrid fiber-copper technology and a model for how other cities can efficiently modernize their traffic management infrastructure. Our collaboration with M.C. Dean has proven that cities can save hundreds of thousands of dollars-or more-on construction costs while achieving the performance required to manage dense roadway systems." As Actelis continues to expand its footprint in the transportation sector, the company's innovative solutions position it well to address the growing need for advanced, secure connectivity in urban environments. The partnership with M.C. Dean not only showcases Actelis' technology but also serves as a model for other cities aiming to streamline their traffic management systems efficiently and sustainably. Quick Links, Read More >> * [ https://thefinanceherald.com/capitalizing-on-the-booming-demand-for-safer-roads-and-smarter-cars-cipias-role-in-reshaping-the-future/ ] * [ https://thefinanceherald.com/actelis-networks-results-surge-in-q3-2024-with-200-revenue-growth-and-rising-margins-fueling-optimism-for-the-future/ ] * [ https://venture-block.com/microsoft-unveils-game-changing-ai-recall-feature-for-enhanced-windows-11-experience/ ] Image: https://www.abnewswire.com/uploads/d2d61a84dcac890534609405dcd466f2.jpg This article is for informational purposes only and is not intended to serve as financial, investment or any form of professional advice, recommendation or endorsement. The article was written in collaboration with Global Markets News Network, a commercially operated IR digital brand compensated by the issuer (Actelis) to provide coverage of its news and developments, among other things. Readers are encouraged to read the full disclaimers and disclosures [ https://justpaste.it/ecto7/pdf ] document that the article is subject to https://justpaste.it/ecto7/pdf [ https://justpaste.it/ecto7/pdf ] . This article may include forward looking statements which cannot be guaranteed as discussed in the documentation. Media Contact Company Name: Global Markets News Network Contact Person: News Desk Email:Send Email [ https://www.abnewswire.com/email_contact_us.php?pr=market-alert-actelis-networks-lands-expansion-orders-for-washington-dc-transportation-department-multibillion-dollar-partner ] Country: United States Website: https://www.futuremarketsresearch.com/global-markets-news This release was published on openPR.WASHINGTON (AP) — A ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top White House official said Friday. Biden administration officials said this month that at least eight telecommunications companies , as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But Anne Neuberger, the deputy national security adviser for cyber and emerging technologies, told reporters Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. The update from Neuberger is the latest development in a massive hacking operation that has alarmed national security officials, exposed cybersecurity vulnerabilities in the private sector and laid bare China's hacking sophistication. The hackers compromised the networks of telecommunications companies to obtain customer call records and gain access to the private communications of “a limited number of individuals." Though the FBI has not publicly identified any of the victims, officials believe senior U.S. government officials and prominent political figures are among those whose whose communications were accessed. Neuberger said officials did not yet have a precise sense how many Americans overall were affected by Salt Typhoon, in part because the Chinese were careful about their techniques, but a “large number" were in the Washington-Virginia area. Officials believe the goal of the hackers was to identify who owned the phones and, if they were “government targets of interest,” spy on their texts and phone calls, she said. The FBI said most of the people targeted by the hackers are "primarily involved in government or political activity.” Neuberger said the episode highlighted the need for required cybersecurity practices in the telecommunications industry, something the Federal Communications Commission is to take up at a meeting next month. “We know that voluntary cyber security practices are inadequate to protect against China, Russia and Iran hacking of our critical infrastructure,” she said. The Chinese government has denied responsibility for the hacking.
Expanding full Social Security benefits to millions of citizens has bipartisan approval, but some senators are skeptical about making the move because of what it will do to the deficit. The Social Security Fairness Act would repeal the Government Pension Offset and the Windfall Elimination Provision, which reduces Social Security benefits for those who receive pensions based on earnings from employment that are not subjected to the payroll tax and are not covered by Social Security. The bill passed in the House of Representatives 327-75 last month, and it will likely pass in the Senate despite warnings that doing so will expedite the end of the current program. Senate Majority Leader Chuck Schumer (D-NY), who will be the Senate minority leader in the next Congress, vowed to put the bill up for a vote before lawmakers leave Washington, D.C., which has some deficit hawks concerned about its impacts. The Congressional Budget Office has projected that the legislation would add $195 billion to the federal deficit over the next 10 years, which is a matter of concern for fiscal conservatives. The increased payments with these repeals would also take more out of the Social Security trust funds, with the Old-Age and Survivors Insurance trust fund projected to be insolvent by 2033. Once the fund goes insolvent, recipients will be unable to receive their full payments on time. The Associated Press reports that Sen. Mike Braun (R-IN) is deciding on whether he will vote for the legislation, noting that "nothing ever gets paid for, so if it’s further indebtedness." Sen. Rand Paul (R-KY) also opposes the bill over fiscal concerns. Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, warned the legislation would only race the program toward fiscal demise. "It is truly astonishing that at a time when we are just nine years away from the trust fund for the nation’s largest program being completely exhausted, lawmakers are about to consider speeding that up by six months," MacGuineas said in a statement. "And add on top of that another $200 billion in new borrowing as a result. We are racing to our own fiscal demise." She also called on Congress to pass legislation to "make the program’s finances sustainable over the long term," an issue both parties have largely been unable to accomplish as insolvency creeps closer. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER Rep. Garret Graves (R-LA), one of the lead co-sponsors of the bill in the House, predicted in a statement earlier this week that the bill has the support of more than 60 senators and called on the upper chamber to send the legislation to President Joe Biden's desk. "We defied the odds and fought back sneak attacks to successfully complete a discharge petition that resulted in the first vote in history to repeal the WEP and GPO," Graves said. "The heavy lifting is done. The path to victory could not be clearer. A WEP-GPO repeal could be in the stockings of millions of public service retirees this Christmas. Pass H.R. 82 now!"
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A Minnesota college professor is fending off flak from a congressman after a private, “facetious” post by the professor was made public. Rep. Brad Finstad this week accused Kevin Parsneau, political science professor at Minnesota State, Mankato, of “advocating in support of the assassination of UnitedHealthcare CEO Brian Thompson.” Finstad, whose district contains Mankato, called for the university’s leadership to demand Parsneau’s resignation, in a letter dated Tuesday and posted on Facebook . “It is acutely unacceptable that this professor is provided a platform to be in the presence of students or involved in academia in any form,” Finstad said in a letter he posted to Facebook. Finstad’s office did not respond to a request for comment as of Friday afternoon. Parsneau on Friday said his comments were not meant to be serious; they were posted in a private group and taken out of context by people he called “cancel culture advocates” — but from the right. He said he commented on a friend’s Facebook post after a masked gunman, whom police now believe to be Luigi Mangione , shot Thompson, CEO of UnitedHealthcare, in New York on Dec. 4. A post by a friend of Parsneau’s said, “How long do we really need to look for Brian Thompson’s killer? Is today good enough? Or do they need to look tomorrow?” Parsneau replied, “It’s going to be disappointing if he’s a one-off killer instead of a serial killer.” He said in a phone call Friday afternoon that he was not being serious. “It was a private chatroom with a relatively limited group of people, that contained primarily facetious, sarcastic, dark humor,” Parsneau said. “What I said was not meant as anything serious, and somebody went out of their way and targeted me, and that got forwarded to Rep. Finstad, who I believe understands facetiousness.” He acknowledged his comment was an “insensitive statement,” and said he was not advocating for anyone’s assassination or curtailing the investigation into Thompson’s killing, he added in a Facebook message. “It was meant to be about the larger social media reaction to the crime, which I believe reflects public frustration with the health insurance industry and the countless tragic stories of denied health care,” Parsneau said. “Rep. Finstad should spend his time addressing that crisis instead of being a cancel culture activist.” Parsneau said on Friday he has not been asked to resign. A university spokesman confirmed he has tenure. Edward Inch, Minnesota State Mankato’s president, said in a statement Thursday afternoon that Parsneau’s comment was made on a personal Facebook account and not endorsed by the university. “I want to make it clear that I denounce all messages that condone violence of any kind,” Inch said. He said the university plans to host campus conversations in the spring on speech, limits and responsibilities.AP Trending SummaryBrief at 1:56 p.m. EST