Trump names billionaire investment banker Warren Stephens as his envoy to BritainAs the basketball community waits for updates on Sun Minghui's condition, the outpouring of support and well wishes for his recovery continues to grow. Fans from around the world have been sending their thoughts and prayers to the injured player, hoping for a speedy and full recovery.
U.S. stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S & P 500 climbed 0.2%, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 0.3%, while the Nasdaq composite climbed 0.8% to set its own record. Treasury yields eased after the jobs report showed stronger hiring than expected but also an uptick in the unemployment rate. On Friday: The S & P 500 rose 15.16 points, or 0.2%, to 6,090.27. The Dow Jones Industrial Average fell 123.19 points, or 0.3%, to 44,642.52. The Nasdaq composite rose 159.05 points, or 0.8%, to 19,859.77. The Russell 2000 index of smaller companies rose 12.83 points, or 0.5%, to 2,408.99. For the week: The S & P 500 is up 57.89 points, or 1%. The Dow is down 268.13 points, or 0.6%. The Nasdaq is up 641.61 points, or 3.3%. The Russell 2000 is down 25.73 points, or 1.1%. For the year: The S & P 500 is up 1,320.44 points, or 27.7%. The Dow is up 6,952.98 points, or 18.4%. The Nasdaq is up 4,848.42 points, or 32.3%. The Russell 2000 is up 381.92 points, or 18.8%.One of the key drivers of the current momentum in the Beijing real estate market is the government's efforts to stimulate economic growth through measures such as tax cuts, infrastructure spending, and easier access to credit. These policies have helped boost consumer confidence and incentivize investment in the property sector. As a result, developers have been quick to launch new projects to capitalize on the increased demand, leading to a flurry of new property listings hitting the market.
The tragic events that unfolded in Haiti serve as a stark reminder of the fragility of peace and the devastating consequences of unchecked violence. As the nation mourns the loss of over 184 lives, let us stand in solidarity with the people of Haiti, offering our support, compassion, and unwavering commitment to building a more just and peaceful world for all.
Fort Lauderdale, FL, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm” or the "Company”) (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, announced today the closing of its previously announced public offering with gross proceeds to the Company of approximately $9.5 million, before deducting placement agent fees and other estimated expenses payable by the Company. The offering comprised of 55,882,352 shares of the Company's common stock (or pre-funded warrants in lieu of shares of common stock). Each share of common stock or pre-funded warrant was sold with one Series A Warrant to purchase one share of common stock at an exercise price of $0.17 per share (the "Series A Warrants”) and one Series B Warrant to purchase one share of common stock at an exercise price of $0.34 per share (the "Series B Warrants” and, together with the Series A Warrants, the "Warrants”). The Warrants will become exercisable upon the approval of the Company's stockholders of the issuance of the shares of common stock issuable upon exercise of the Warrants, and certain other provisions of the Warrants. The Series A Warrants will expire on the five-year anniversary of its initial exercise date and the Series B Warrants will expire on the two and one-half-year anniversary of its initial exercise date. The purchase price of each share of common stock and accompanying Warrants was $0.17, and the purchase price of each pre-funded warrant and accompanying Warrants was such price minus $0.01. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes, and for repayment of certain outstanding senior secured notes of the Company. Univest Securities, LLC is acting as sole placement agent for the offering. The securities described above are being offered by the Company pursuant to a registration statement on Form S-1 (File No. 333283178) (the "Registration Statement”) previously filed and declared effective by the Securities and Exchange Commission (the "SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov . Electronic copies of the final prospectus relating to this offering may be obtained, when available, by contacting Univest Securities, LLC at [email protected] , or by calling +1 (212) 343-8888. About Algorhythm Holdings Algorhythm Holdings, Inc. is a holding company with two primary investments. First, the Company owns SemiCab Holdings, an emerging leader in the AI-enabled global logistics industry. Second, the Company owns The Singing Machine Company, the worldwide leader in the consumer karaoke industry. SemiCab is a cloud-based Collaborative Transportation Platform built to achieve the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. To orchestrate collaboration across manufacturers, retailers, distributors, and their carriers, SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners. To build fully loaded round trips, SemiCab uses AI/ML predictions and advanced predictive optimization models. On the SemiCab platform, shippers pay less and carriers make more while not having to change a thing. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. SemiCab's Orchestrated Collaboration TM AI model has proven to increase transportation capacity, improve asset utilization, reduce empty miles, lower logistics costs, and provide visibility into the entire transportation network. Models show the technology has the capability of saving shippers tens of billions of dollars annually through optimization. Further, SemiCab's technology also has the potential to play a key role in the improved sustainability model globally. Based on its proven ability to improve truck utilization rates from 65% to over 90%, this results in a dramatic reduction in the carbon footprint of the industry. The optimization of existing truck utilization can add approximately 30% more trucking capacity without adding more trucks, drivers or driven miles which addresses common problems plaguing the industry like severe driver shortage and road congestion. Trucking optimization could also eliminate approximately 25% of CO2 emissions attributable to road freight. For additional information regarding SemiCab: http://www.semicab.com The Singing Machine Company, Inc. is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine , to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. To learn more, go to www.singingmachine.com . Investor Relations Contact: [email protected] www.algoholdings.com Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Forward-looking statements may be identified by words such as "anticipates,” "believes,” "estimates,” "expects,” "intends,” "may,” "plans,” "projects,” "seeks,” "should,” "suggest”, "will,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements relating to the timing, size and expected gross proceeds of the Offering, the completion of the Offering, the satisfaction of customary closing conditions related to the Offering and sale of securities, the Company's ability to complete the Offering, and the intended use of proceeds from the Offering. The Company has based these forward-looking statements on its current expectations and projections about future events. Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements, including, without limitation, risks, uncertainties and assumptions related to market conditions and the satisfaction of closing conditions related to the Offering, risks disclosed in the section titled "Risk Factors” included in the Registration Statement on Form S-1 initially filed with the SEC on November 12, 2024, and risks disclosed under item 1A. "Risk Factors” in the Company's most recently filed Form 10-KT filed with the SEC and the Company's Quarterly Reports on Form 10-Q. This press release speaks as of the date indicated above. The Company undertakes no obligation and expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
In conclusion, NVIDIA's willingness to address regulatory questions and showcase a collaborative attitude towards working with regulators is a reflection of its commitment to ethical business practices and responsible corporate citizenship. By embracing transparency, accountability, and cooperation, NVIDIA is poised to overcome regulatory challenges and emerge as a trusted leader in the global tech industry.
NEW YORK — Stoli Group USA, the owner of the namesake vodka , has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 million and $100 million in liabilities. Stoli vodka and Kentucky Owl bourbon will continue to be available on store shelves while the company navigates the Chapter 11 process, which only pertains to its U.S. business. Until 2022, Stoli was sold as Stolichnaya in the United States, which loosely translates to “capital city” in Russian. The company shortened its title following Russia’s invasion of Ukraine and boycotts against Russian-branded vodkas . Stoli Group’s founder, Russian-born billionaire Yuri Shefler, was exiled from that nation in 2000 because of his opposition to President Vladimir Putin. Intel announced on December 2 that CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals. The liquor has long been marketed as a Russian vodka, but its production facilities have been in Latvia for several decades. Stoli Group is a unit of Luxembourg-based SPI Group, which owns other spirit and wine brands. “The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years ago,” said Stoli Group CEO Chris Caldwell in a statement. “Earlier this year the company and our owner were both named by the Russian state as ‘extremist groups working against Russia’s interests.’” Its ongoing legal battle with the Russia government has forced Stoli to “spend dozens of millions of dollars on this long-term court battle across the globe with the Russian authorities,” according to its court filing. Caldwell also said that Stoli’s global operations has been a “victim of a malicious cyber attack” that has forced the company to operate “entirely manually while the systems are rebuilt.” A slowdown in demand for alcohol has crushed several company’s bottom lines following the pandemic when people were stuck at home and stocked up. Stoli’s filings said that it has seen a “decline and softening of demand for alcohol and spirits products post-Covid and especially beginning in 2023 and continuing into 2024.” Stoli Group USA, maker of Stoli vodka, has filed for bankruptcy due to slowing demand for spirits, a major cyberattack, and ongoing legal battles with Russia. The-CNN-WireTM & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved. Get the latest local business news delivered FREE to your inbox weekly.