CHARLOTTE, N.C. (AP) — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. “Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them,” Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's “take-it-or-leave-it” final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as “open” teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was “primarily related to our ongoing lawsuit with NASCAR,” Freeze said. “NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit,” Freeze said. “NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved.” A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing “new circumstances” in a renewed motion for an injunction and of a “coordinated effort behind the scenes.” “This is completely false,” Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. “23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing,” Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. “It is not hypocritical to operate within the only system available while striving for excellence and contending for championships,” he continued. “It is a necessity because NASCAR’s monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level.” AP auto racing: https://apnews.com/hub/auto-racingWhere’s Pedro Moreno’s Pardon?
(TNS) — A teacher-turned-legislator wants Missouri to join a growing list of states that restrict student cellphone use in schools. Rep. Kathy Steinhoff, a Democrat from Columbia and 34-year public school teacher who retired in June 2022, said classroom engagement became a “real challenge” in the years before she left teaching, adding cellphone use was “probably the biggest factor in that.” She said as she spoke with her former colleagues, “it sounded like the problem just was continuing to get worse.” Steinhoff filed a proposal Monday for the upcoming 2025 session that would require public school districts and charters to adopt policies that largely prohibit use of electronic personal communications devices during regularly scheduled instructional activities. The bill includes certain exceptions to allow phone use during emergencies, when a teacher directs a student to use a phone as part of a lesson, or when the phone is authorized by federal laws such as the Individuals with Disabilities Education Act. Florida, Indiana, South Carolina, Minnesota, Ohio and California have all enacted legislation since last year requiring local policies on in-school cellphone use, according to the National Conference of State Legislatures. Steinhoff’s legislation is similar to requirements in Florida and Indiana that districts prohibit phone use during instructional time, except in certain circumstances outlined in the law. Ohio and Minnesota have approved more open-ended legislation. Ohio’s law requires districts to adopt policies that limit phone use and that reduce cellphone-related distractions in classroom settings. In addition to Florida’s requirement that districts largely prohibit school cellphone use, the state also requires districts to adopt Internet safety policies including a prohibition on students using district Internet to access social media unless directed by a teacher solely for educational purposes. “We don’t want the kids on the phone the whole time while the teachers are trying to teach,” Florida Gov. Ron DeSantis, a Republican, said last year. “It’s rude for the teacher. There’s no way you’re learning what you need to be learning.” “Things like these social media ... it can wait,” DeSantis said. “Honestly it’s not that important to be doing. It’s much more important what’s going on in the classroom.” A statewide crackdown on in-class phone use in Missouri may find broad support — at least among voting-age adults. An August survey of likely Missouri voters by St. Louis University and YouGov found 72 percent support for prohibiting high school students from accessing their cellphones during school hours. Overall, 15 percent of respondents opposed the idea and 12 percent weren’t sure. The sample size for the question was 450 and the margin of error was 5.4 percent. Older adults were more likely to support the prohibition, indicating a generational divide on the issue. About four-fifths of survey respondents 45 and older supported the cellphone restrictions while less than half of 18- to 29-year-olds did. Many St. Louis-area districts have already begun cellphone crackdowns amid school administrator complaints that the devices hinder learning, and after teachers struggled to get students to fully engage. Punishments for violating new rules this school year range from verbal warnings to out-of-school suspensions, the Post-Dispatch reported in August. Pew Research surveys show increasing access to smartphones. Ninety-five percent of 13- to 17-year-olds surveyed last year reported having access to smartphones, up from 73 percent in 2014-2015. A Pew survey last year found 38 percent of U.S. teens surveyed said they spent too much time on their smartphones, and 27 percent said they spent too much time on social media. While 74 percent of teens said they sometimes or often felt happy without their smartphones, 44 percent said they sometimes or often felt anxious without them. Steinhoff said her legislation gives districts some freedom and she hopes any new law will allow local control as opposed to a one-size-fits-all statewide ban. She noted that not all parts of the school day are spent in class, such as passing time, lunch and study hall. “There are different people that have different ideas about whether students should be able to use cellphones during those times,” she said. This is the second year Steinhoff is trying to limit phone use in school. As a Democrat, she will need Republican support in the GOP-controlled Legislature. She may find an ally in state Rep. Ed Lewis, a Moberly Republican and former public high school chemistry and physics teacher. “I’m contemplating filing something similar,” he said. “I know cellphones are an absolutely huge distraction.”Kate Middleton shortlisted for Time's Person of the Year 2024BOSTON — Ja Morant had 32 points, nine assists and nine rebounds, and the Memphis Grizzlies snapped a 10-game losing streak in Boston with a 127-121 win over the Celtics on Saturday night. Jaren Jackson Jr. added 27 points and nine rebounds for Memphis, which won in TD Garden for the first time since Nov. 27, 2013. The Grizzlies have won eight of their last nine. Jrue Holiday had 23 points for the Celtics, who went 18 for 60 from the 3-point line. Jaylen Brown and Payton Pritchard each finished with 22 points. The Celtics erased a 14-point, third-quarter deficit, taking a 97-94 lead early in the fourth. Memphis rallied and led 117-115 with less than four minutes to play. The Grizzlies then scored seven straight to get it back up to 124-115 and were able to close it out. Marcus Smart played in TD Garden for the first time since being dealt to Memphis as part of the three-team trade that brought Kristaps Porzingis to Boston in 2023. He played 19 minutes but was only 1 of 11 from the floor, finishing with three points. Takeaways Grizzlies: Morant had one of his best all-around efforts since returning from his hip injury last month. He showed explosiveness offensively, throwing down a double-clutch reverse dunk. He also facilitated for his teammates in the halfcourt, a solid sign in just his sixth game back. Celtics: The Celtics lost for the first time this season on the second night of a back-to-back (4-1). Memphis Grizzlies guard Marcus Smart (36), formerly of the Boston Celtics, acknowledges the crowd during the first half of an NBA basketball game against the Boston Celtics, Saturday, Dec. 7, 2024, in Boston. Credit: AP/Mark Stockwell Key moment Smart checked into the game at the 8:50 mark of the first quarter and acknowledged a standing ovation from Celtics fans, stopping to wave to the crowd. Key stat Memphis outscored Boston 64-40 in the paint. Up next The Grizzlies visit the Washington Wizards on Sunday. The Celtics host the Detroit Pistons on Thursday.
With the massive growth in cryptocurrency adoption, the environmental impact of blockchain technology has become a pressing issue. Many popular blockchain networks, particularly those that use proof-of-work (PoW) mechanisms like Bitcoin, consume significant amounts of electricity, contributing to a large carbon footprint. Sustainable crypto wallet solutions have emerged as a response to this challenge, aiming to reduce the ecological impact of digital finance. Crypto wallets are essential tools for holding, sending, and receiving digital assets, so developing wallets with sustainability in mind can play a major role in reducing the crypto industry’s environmental impact. What Makes a Good Crypto Wallet The top wallet to store crypto is one that prioritizes user control and security, offering users full custody of their funds without relying on third-party access. Features like strong encryption, two-factor authentication, and multi-signature capabilities are essential to protect assets from unauthorized access. A non-custodial wallet, where only the user holds the keys, ensures that no external entity can freeze or limit access to funds, enhancing user autonomy and privacy. In addition to security, versatility is a key factor in a quality wallet. A good crypto wallet supports a wide range of cryptocurrencies across multiple blockchain networks, allowing users to manage diverse portfolios in one place. Furthermore, features such as easy-to-navigate interfaces, integrated access to decentralized finance (DeFi) applications, and compatibility with trusted third-party payment providers make the user experience smooth and accessible for both beginners and seasoned investors. Exploring Eco-Friendly Wallet Technologies Technological advancements are paving the way for more eco-friendly crypto wallets. Many wallet providers are moving away from energy-intensive PoW blockchains toward networks that use proof-of-stake (PoS) mechanisms. PoS networks, such as Ethereum 2.0, Cardano, and Solana, require far less energy than PoW systems. Ethereum’s recent transition to PoS significantly reduced its energy consumption and provided a model for other blockchain projects. Wallets that integrate with PoS networks, or with other low-energy protocols, are helping to make crypto transactions less energy-intensive and more sustainable. Additionally, some wallets are exploring partnerships with green energy providers to offset their environmental impact. Adopting Green Standards in Wallet Development To achieve a sustainable future for digital finance, wallet developers are increasingly adopting green standards in their applications which is the equivalent of construction using eco-friendly building materials. For instance, lightweight wallet applications are designed to use minimal processing power and require less data storage, reducing the energy consumption on the user’s device as well as on the network. By implementing streamlined code and efficient data practices, these wallets aim to minimize their carbon footprint without sacrificing user experience or security. Some wallet providers are also adding carbon tracking features, giving users visibility into the environmental impact of their transactions. Green standards like these are making crypto wallets more sustainable while maintaining essential functionality. Education and Awareness for Sustainable Wallet Use Educating users about the environmental impact of cryptocurrency transactions is an essential part of promoting sustainable crypto wallet use. Many users are unaware of the energy costs associated with certain types of blockchain transactions. Wallet providers have an opportunity to raise awareness by integrating educational resources into their platforms, helping users make environmentally conscious decisions. For example, some wallets are beginning to show carbon emissions data for each transaction, allowing users to see the impact of their actions. Transparency around transaction emissions enables users to adopt greener practices, such as using blockchains with lower environmental impact or reducing the frequency of their transactions. By embedding sustainability information directly into the wallet experience, providers can foster a more eco-conscious approach to crypto usage. Challenges in Developing Sustainable Wallet Solutions Despite advancements in green technology, creating sustainable crypto wallets remains a challenging endeavor. One significant obstacle is that the most widely used cryptocurrencies, like Bitcoin, still rely on energy-intensive PoW mechanisms . This means that wallets supporting these popular currencies face limitations in achieving full sustainability. Additionally, transitioning wallet infrastructure to eco-friendly standards can be resource-intensive, requiring continuous updates to ensure security and efficiency. Balancing energy efficiency with robust security features is another complex challenge for wallet providers. Moreover, the rapid pace of innovation in the blockchain space requires wallet developers to adapt constantly, making it difficult to maintain a consistent standard of sustainability. Addressing these challenges will require ongoing dedication, innovation, and collaboration across the industry. Carbon Offsetting Initiatives and Partnerships To address the environmental impact of crypto wallets, many providers are turning to carbon offset initiatives. Carbon offsets involve investing in environmental projects that reduce carbon emissions, such as reforestation or renewable energy initiatives, to balance out the emissions generated by wallet operations. Some wallet providers are implementing these programs to offset the carbon footprint of transactions processed through their platforms. By participating in carbon offsetting, wallet providers can take an active role in supporting sustainability initiatives. This approach not only helps reduce the ecological impact of digital finance but also raises awareness among users, encouraging them to consider their own environmental impact. Carbon offset programs provide a practical, accessible way for wallets to promote sustainability while still offering users access to a wide range of cryptocurrencies. Renewable Energy and Decentralised Wallets Another promising approach for sustainable crypto wallets is the use of renewable energy sources. Some wallets and blockchain networks are exploring ways to power their servers and data centers with renewable energy, such as wind, solar, and hydropower. This shift to green energy can significantly reduce the carbon footprint of wallets, particularly in high-transaction environments. Decentralized wallets, which operate through a distributed network rather than a central server, could benefit greatly from this approach. By adopting renewable energy at multiple nodes within their network, decentralized wallets could further reduce their environmental impact. As access to renewable energy grows, the adoption of these sustainable practices in the crypto wallet space will become even more feasible. Regulatory Support and Industry Standards Sustainability in crypto wallets is also gaining traction through regulatory support and the development of industry standards. Some governments and regulatory bodies are now introducing policies to encourage eco-friendly practices in the crypto industry. For example, certain regions are providing incentives like tax benefits or grants for companies that implement green practices, including crypto wallet providers. Clear regulatory guidelines for sustainability can help drive the industry towards greener practices. Moreover, industry standards that establish eco-friendly guidelines for wallet developers would create a unified approach, allowing the industry to work collectively toward reducing the environmental impact of cryptocurrency. With regulatory and industry support, sustainable crypto wallets could become a standard across the market. Consumer Demand for Sustainable Wallets Consumer interest in sustainability is growing, and the demand for eco-friendly crypto wallets is following this trend. Many users are increasingly aware of the ecological impact of their financial activities and want options that align with their values. Wallet providers that prioritize sustainability can attract environmentally conscious consumers by offering features like energy-efficient designs, carbon tracking, and renewable energy integrations. In response to this demand, some wallets are now marketing their green initiatives as a unique selling point. As users become more selective, wallets that can demonstrate a commitment to sustainability are likely to gain a competitive edge in the market. By meeting this consumer demand, wallet providers can support environmental goals while expanding their user base. The Role of Innovation in Sustainable Wallet Solutions Innovation is key to advancing sustainability within the crypto wallet industry. Emerging technologies, such as second-layer solutions, offer new possibilities for reducing the environmental impact of crypto transactions. Second-layer solutions , like the Lightning Network for Bitcoin, enable faster and more efficient transactions that consume less energy. This technology allows wallet providers to offer more sustainable options without compromising transaction speed or reliability. Additionally, research into green blockchain protocols and further improvements in PoS networks are likely to provide even more eco-friendly solutions for wallet developers. As the technology continues to evolve, innovation will remain central to creating truly sustainable crypto wallets. The Future of Sustainable Crypto Wallets The future of sustainable crypto wallets appears promising as developers, regulators, and users work together toward a greener crypto ecosystem. Technological innovations, such as energy-efficient blockchains, renewable energy adoption, and carbon offset programs, will continue to play a critical role in shaping the industry’s path to sustainability. Furthermore, collaboration between wallet providers, blockchain networks, and environmental organizations can strengthen the impact of these green initiatives, leading to more comprehensive eco-friendly solutions in the crypto space. As sustainability becomes a priority, wallets that integrate green practices without sacrificing security or performance will set a new standard for the industry. By adopting these sustainable practices, crypto wallets can contribute to global environmental efforts and help ensure a responsible future for digital finance. Conclusion Sustainability is an essential consideration for the future of cryptocurrency, and crypto wallets play a vital role in this journey. From adopting energy-efficient blockchain networks to investing in renewable energy and carbon offset programs, wallet providers have multiple avenues to reduce their environmental impact. As technology advances and consumer demand for eco-friendly solutions grows, crypto wallets that embrace sustainable practices will not only align with user values but also support a healthier planet. While challenges remain, ongoing innovation, regulatory support, and awareness-building can guide the crypto wallet industry toward a more sustainable future. By prioritizing sustainability, crypto wallets can help shape a greener, more responsible cryptocurrency ecosystem, benefiting both users and the global environment.Key details to know about the arrest of a suspect in the killing of UnitedHealthcare's CEO
Kane hat trick against Augsburg hides Bayern's concerning lack of goalsPhil Mickelson thanks Daniel Penny for 'protecting passengers from deranged' Jordan NeelyStockhead Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Small caps poised for a rebound in 2025, says Shaw and Partners Falling interest rates could boost small cap growth Small caps offer better diversification and strong returns Shaw and Partners' 2024 stock picks have performed exceptionally well, with the investment advice and wealth management firm's 10 emerging company selections up an average of 49%, highlighted by Metro Mining's (ASX:MMI) standout 210% gain. Name Ticker YTD Return 2024 Metro Mining MMI 210% Gentrack GTK 96% FireFly Metals FFM 70% MMA Offshore MRM 65% Austin Engineering ANG 64% Silex SLX 50% AIC Mines A1M -4% Readytech RDY -15% Chrysos C79 -44% Peninsula PEN -50% Looking ahead, Shaw and Partners is even more optimistic about 2025, predicting a strong rebound for ASX small-cap stocks. With several key factors at play, the research firm believes 2025 could be the ideal time to invest in these often-overlooked opportunities. One of the most compelling reasons to invest in small caps is their recent underperformance compared to large caps. Over the past three years, small-cap stocks have lagged behind by 10% per year. This is an unusually large gap, especially when considering historical trends. Shaw and Partners research analysts point out that such underperformance has often been followed by a swift rebound when market conditions improve, particularly when interest rates start to fall. Smaller companies tend to be more reliant on external financing, so when interest rates fall, their borrowing costs decrease, giving them more room to expand. “The relative performance can mean revert quickly given favourable fundamentals,” the wealth management firm explained. “Over the past decade, there have been two periods of RBA interest rate cuts, each case resulting in Australian small cap stocks rising strongly and outperforming large caps.” Another key reason to look at small caps right now is their superior growth potential. Historically, small companies have outpaced large companies in earnings growth, as their smaller size allows them to grow faster from a smaller base. “Equity markets look forward, and consensus estimates forecast stronger EPS growth for small caps relative to large caps as the economy normalises post-Covid,” Shaw and Partners said. Small-cap stocks often have exposure to niche industries, which can lead to faster growth when conditions are right. Diversification and upside Small-cap stocks also provide greater diversification compared to large caps. The biggest stock in the ASX 100, BHP (ASX:BHP) , has a weighting of over 10%, which means its performance can dramatically impact the index. On the other hand, the largest stock in the small-cap index is Life360 (ASX:360) , which makes up just 1.6%. This means small-cap investors can access a broader range of companies across sectors, from technology to consumer products, without being overly exposed to any one company. “This diversification can help investors capture growth across a wider spectrum of the economy,” noted Shaw. Also, the firm said that small-cap managers have consistently delivered strong returns. The “median small-cap manager has outperformed their benchmark across 1, 3, 5, 10, and 15-year timeframes,” Shaw said, largely due to the inefficiencies in the small-cap market, such as lower liquidity and less analyst coverage. This creates opportunities for active managers to generate ‘alpha’ – returns that exceed the market average. Also, current valuations offer attractive entry points, particularly as small caps are trading on a 2-year forward price-to-earnings (P/E) ratio of 16.2, which is below the 17.9 P/E for large caps. Historically, small caps have traded at a premium to large caps, so this discount could represent a solid buying opportunity. Shaw and Partners’ Top 10 small cap ideas for 2025 As 2025 approaches, Shaw and Partners has selected its top 10 small-cap stocks to watch, and provided the following comments for each: Amaero International (ASX:3DA) leads in metal additive manufacturing, targeting aerospace defence, and energy sectors. Leveraging advanced materials and strategic partnerships, it benefits from re-shoring trends and increased defence spending, driving significant growth opportunities. Australian Vanadium (ASX:AVL) is developing an Australian battery industry utilising vanadium flow batteries that will be used for grid-scale storage. The energy transition requires both electricity generation and matched storage to balance the grid. Beforepay Group (ASX:B4P) is now profitable with its core pay advance lending product. B4P is using its AI algorithms for two new businesses that can double revenue by (1) supplying larger/longer personal loans and (2) supplying AI credit risk modules to US financial institutions. Bannerman Energy (ASX:BMN) is developing the Etango Uranium Project in Namibia. Etango is one of only a handful of construction ready uranium projects globally. It is a large (~215Mlb) and long life (~40 years) asset. The uranium price is expected to continue rising due to strong demand coupled with limited supply. Chrysos Corporation's (ASX:C79) proprietary photon assay technology is making mineral assays faster, more accurate and more environmentally friendly. C79 trades on FY25 EV (expected value) revenue multiple of 8.4x and we forecast a 3-year revenue CAGR (compound annual growth rate) of 46%. We see considerable upside as our $7.20 PT (price target) only assumes 265 terminal units vs a current TAM (total addressable market) of 610 units. Humm (ASX:HUM) is a value investment emerging from restructuring and turning to growth. It is trading on a PE (price earnings) of 4x with earnings growth looking solid for FY25. It is Australia’s leading non-bank financial in secured asset lending to SME’s. Metro Mining (ASX:MMI) ships bauxite to China and is trading at just 3.7x PE and 1.5x EV/EBITDA in 2025. Bauxite prices are rising due to strong demand from China at a time of supply disruptions in Guinea, China and an export ban from Indonesia. Santana Minerals (ASX:SMI) is an advanced gold developer. The company is continuing to develop the 100% owned Bendigo-Ophir Gold Project in New Zealand that boasts 2.5Moz in resource. Shaw sees SMI rerate as it rapidly progresses to production whilst simultaneously continuing to explore its sizeable land package. Silex Systems (ASX:SLX) has the potential to be a generational investment, Shaw says. Its technology is "likely to revolutionise the uranium enrichment industry". There are positive catalysts in 2025 as the pilot plant proves up the technology, Cameco exercises its option to increase its stake in the joint venture and the US government provides financial support. Southern Cross Electrical Engineering (ASX:SXE) is a leading national electrical, instrumentation, communications, and maintenance services group. SXE is exposed to the electrification and decarbonisation of the economy. We are attracted to SXE due to the quality of its management and the strength of its industry tailwinds. The views, information, or opinions expressed in this article are solely those of the research firm and do not represent the views of Stockhead. Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article. Originally published as Shaw says 2025 could be the year to feast on ASX small caps and these are its 10 favourites More related stories Stockhead Argentine lithium junior drawing major eyes Pursuit Minerals says its increased resource in Argentina opens the door to significant offtake discussions despite sluggish lithium prices. Read more Stockhead Net zero goals still need hydrogen Heavy transport and displacing fossil fuel-derived hydrogen are some of the key areas where clean hydrogen can shine. Read more
NPP’s pragmatism and the political economy
Tourism partnerships boost Okanagan College’s future programmingNow that the shine and allure of being the 'new fad' and government subsidies are starting to wear off - along with a marketplace full of super-saturated competition and robust supply - EVs simply aren't selling. That was the topic of a new FT report that claims the auto industry’s shift toward EVs, once seen as essential, is now facing serious challenges. It cites for example that Northvolt, Europe’s top battery producer, filed for bankruptcy last week, casting doubt on the region’s industrial strategy. Additionally, Stellantis announced the closure of its UK van plant, risking 1,100 jobs, while Volkswagen and Ford also warned of significant job cuts and plant closures due to weaker-than-expected EV demand. And as we noted earlier this week, GM is taking a $5 billion charge to reorganize its Chinese business. Now the U.S. risks falling further behind in its green transition as EV adoption lags and President-elect Trump’s plans to cut subsidies threaten progress. While President Biden aims for EVs to make up half of new car sales by 2030, they accounted for just 10% last year, according to FT . And carmakers have scaled back production plans, with U.S. EV output expected to drop by 50% and European plans by 29% next year, according to Bernstein. By 2025, EV market share is projected to reach 23% in Europe and 13% in the U.S. FT reported that the slow growth of EV adoption globally stems from high upfront costs, concerns about range and charging infrastructure, and fading energy price advantages due to geopolitical tensions. Rising interest rates have further increased leasing costs. In Europe, EV prices have climbed from €40,000 in 2020 to €45,000 today, far above the €20,000 many consumers are willing to pay. Meanwhile, inconsistent government subsidies have led to uneven adoption, with Germany and France cutting incentives, prompting concerns about declining EV sales and job losses in the auto industry. China, by contrast, has successfully integrated its EV strategy, leveraging state-backed initiatives, subsidies, and a robust supply chain to dominate the market. More than half of new cars sold in China are now EVs or plug-in hybrids, aided by competitive pricing and innovative in-car technology. Europe, constrained by free-market principles, cannot match China’s state-driven model and has resorted to imposing tariffs on Chinese EV imports. Despite setbacks, automakers in Europe remain optimistic, planning affordable EV models under €25,000 to meet stricter emissions targets, aiming to balance cost reduction with growing consumer interest in electric technology. Bernstein analyst Daniel Roeska concluded: “The EV production forecast for 2025 has seemingly only gone one way — down.” By Zerohedge.com More Top Reads From Oilprice.com Stellantis CEO Resignation Sends Shockwaves Through U.S. Auto Industry Ruble's Plunge Signals Trouble for Russian Economy AI's Energy Appetite Sparks Global Power Grid Concerns Read this article on OilPrice.comAmazon founder Jeff Bezos is set to marry his fiancée Lauren Sanchez in a lavish Aspen, Colorado wedding, which, according to Daily Mail, is likely to cost the American billionaire a whopping $600 million (equivalent to Rs 5096 crore). Since May 2023, the two have been dating. The Daily Mail exclusively reported that Bezos and Sanchez have booked a luxurious sushi restaurant called Matsuhisa in Aspen from December 26 to 27. According to reports, their wedding would be a spectacular party with a Winterland theme. According to the New York Post, the American billionaire is expected to wed Lauren Sanchez in a lavish $600 million wedding in Aspen, Colorado, on Saturday. Five-star hotels in Aspen have also been booked to house the guests who will be attending the wedding and private mansions have been secured for high-profile guests. The Amazon founder and CEO's lavish winter wonderland-themed wedding ceremony will be attended by a limited but star-studded guest list. Sources close to the couple reveal that the guest list will be an elite gathering of around 180 people, including many Hollywood celebrities and high-profile figures. According to Page Six, a number of celebrities and stars, including Queen Rania of Jordan, Leonardo DiCaprio, and Bill Gates, are expected to attend the extravagant wedding. According to reports, the party planners who will be in charge of planning the lavish celebration have agreed to keep the wedding gala's specifics confidential. Aspen planner Sarah Rose Attman told Express US that planners are likely to "cherry-pick" their favourite items from across the globe and bring them to Aspen for Jeff Bezos and Lauren Sanchez's wedding. Whether it's a Parisian dessert, a New York hairdresser, or their favourite band, the crew will make sure the couple's favourite things are in the city. Lauren Sanchez, Jeff Bezos' to-be-wife is an American media personality who gained popularity as an entertainment journalist. She has served as an anchor on Fox 11 News at Ten and a guest host on The View. In addition to being the vice-chairperson of the Bezos Earth Fund and the owner of Black Ops Aviation, the first female-owned aerial video and production firm, Lauren Sanchez was included in People magazine's "50 Most Beautiful" issue in 2010. The pair have remained silent on their wedding plans. They have not publicly confirmed their wedding date yet either.
NoneTORONTO — With Jan. 27 marking 500 days out from the 2026 World Cup kickoff, some 50-plus staff are fleshing out the Canadian end of the tournament at FIFA's Toronto office. The office has been around for a year, although it took six months to get it to where it is now — a fully functioning space with more than a little character. The entrance features a display of 14 official match balls dating back to the 1970 World Cup. A giant 2026 cut-out in the shape of the FIFA World Cup trophy provides a unique photo op. Maple Leaf motifs decorate the converted factory, which is getting busier by the day. Peter Montopoli, chief tournament officer for the Canadian end, says the staff numbers will soon reach 80, with another 600 to 700 involved during the event itself. A lot has happened since Montopoli, then Canada Soccer's general secretary, and Victor Montagliani, then Canada Soccer's incoming president, hashed out the idea of bidding for the men's World Cup at a 2011 dinner at a Vancouver restaurant with Walter Sieber, director-general of sports at the 1976 Montreal Olympics and a man plugged into the world governing body of soccer. "When we announced in May 2012 ... it wasn't actually accepted very well by a few journalists in this city, who kind of laughed at it and scoffed at it," said Montagliani, who still keeps one of those negative articles in his desk. Montagliani, now president of CONCACAF and a FIFA vice-president, looks forward to the 2026 tournament — an expanded 48-team, 104-game colossus co-hosted by Canada, the United States and Mexico — and its legacy. He calls it a "seminal moment ... that I think is going to push the game to the next level." "What I see is (that) '26, quite frankly, is really the beginning of the next era for the game in our country. It's not the culmination of it," Montagliani told a media roundtable Monday. "Hosting a World Cup is like nothing any of us (know). I don't even think I know what it's going to be like. And I've put on a few of these things. And I still don't know. I think I'm underestimate the impact this (tournament) is going to be. And if I'm underestimating, the person on the street is underestimating it too." Staff at the Toronto office are working on everything from stadium and venue operations, and safety and security to commercial, legal, finance and government relations. They work in conjunction with FIFA offices in Miami and Mexico as well as the FIFA head office in Zurich. Canada and Mexico, which has three host cities to Canada’s two, will each host 13 matches with the U.S. staging the remaining 78 across its 11 host cities. Toronto and Vancouver will each host five opening-round matches plus a round-of-32 knockout match. Vancouver will also stage a round-of-16 game. FIFA plans to open a tournament office in Vancouver in the second quarter of 2025. Both Canadian offices will be walking distance to their local venues: Toronto's BMO Field and B.C. Place Stadium. Montopoli and his staff have a detailed timeline, covering everything from the tournament draw to unveiling of mascots, official songs and posters. FIFA is encouraging fans interested in tournament tickets to register via FIFA.com. Hospitality packages are already open and other packages are expected next September, with single-game tickets to follow after the draw in early December 2025. There is much to be done, starting with the two Canadian host stadiums. A ring of permanent suites is under construction at B.C. Place. BMO Field will get an additional 17,750 seats, bringing total capacity to around 45,735 seats, with the north and south ends expanded. Not all the new seats will be permanent, but some of the new suites at BMO Field will be. Montopoli says his staff are working with the City of Toronto, which owns the stadium, and Maple Leaf Sports & Entertainment, which manages the facility, to decide what upgrades will permanent. "They're still in discussion with that, because they still have to work through the economics of it" he said. Improvements include new video boards. And while some of the expanded BMO stands will be temporary, the additions will be proper seats not benches. Montagliani says every stadium among the 16 host cities is getting upgrades, even AT&T Stadium in Arlington, the US$1.2-billion-dollar home of the Dallas Cowboys. Vancouver has already announced its tournament training facilities will be at Killarney Park and Memorial South Park once upgrades are complete. While Toronto has yet to confirm its training venues, with fields at Etobicoke’s Centennial Park one option, Montopoli says they will be finalized in the first quarter of 2025. FIFA's Miami-based tournament traffic lead is currently visiting the city, a "world-class expert" who has done World Cups, Olympic Games and the 2015 Pan-American Games in Toronto, said Montopoli. "She's fully aware of everything, Toronto's transport issues," he added. Fans can expect a much different landscape around the stadiums than normal, with an expanded secure zone. "This is not the Grey Cup. This is the World Cup and it's going to be completely different from an operational logistical standpoint, logistical standpoint, than anything we've ever experienced," Montagliani said. And while holding a tournament in 16 host cities and three countries is vastly different from the 2022 tournament in Qatar, which had all eight stadiums in and around the capital of Doha, Montagliani says a lot of FIFA's World Cup blueprint can be transferred. "A venue is a venue is a venue," he said. Teams will have their own base camps during the group stage with nearby cities grouped in clusters. Toronto, for example, is linked to Philadelphia, Boston and New York, while Vancouver is grouped with Seattle, San Francisco and Los Angeles. --- Follow @NeilMDavidson on X platform This report by The Canadian Press was first published Dec. 8, 2024. Neil Davidson, The Canadian PressNvidia's stock dips after China opens probe of the AI chip company for violating anti-monopoly laws
Six-time Miami Heat All-Star swingman Jimmy Butler is apparently at least open to being traded to another team this year. The 6-foot-7 Marquette product has reportedly listed the Golden State Warriors, Houston Rockets, and Dallas Mavericks among his preferred postseason destinations. Read more: Heat Star Jimmy Butler Open to Trade, Lists Warriors Among Teams He is Targeting Following a three-game winning streak primarily buoyed by the efforts of Butler and 2022 Sixth Man of the Year shooting guard Tyler Herro, the Heat have improved to a 12-10 record on the year, good for the Eastern Conference's fifth seed. The Heat may boast a record above .500 record again at last, but Miami clearly seems to be a tier beneath the 21-4 Cleveland Cavaliers, the 19-5 Boston Celtics, the 17-10 Orlando Magic, and the 15-10 New York Knicks — the East's top four squads. All-Defensive Heat center Bam Adebayo has struggled mightily to score from anywhere. The 27-year-old Kentucky product, a five-time All-Defensive Teamer and three-time All-Star is averaging 16.0 points on a rough-for-a-center 43.9 percent shooting from the field, 10.1 rebounds, 5.2 assists, 1.5 steals and 0.8 blocks a night. He's making just 38 percent of his shots from within 3-10 feet, a brutal mark and a steep dip from his 51.5 percent conversion late just last year (and his 46.3 percent shooting efficacy from that distance over the course of his career). Point guard Terry Rozier also seems to have declined from his Charlotte Hornets-era prime. The 6-foot-1 Louisville product is averaging 12.1 points on .406/.364/.886 shooting splits, 3.7 boards, 3.1 dimes, and 0.6 swipes a night in his 20 healthy games. He was recently demoted to a bench role by head coach Erik Spoelstra after 12 starts. Herro has been shifted to a role as the club's starting point guard, while swingman Duncan Robinson has been promoted to a gig as Miami's starting two-guard. After a first-round elimination last spring, it appears Butler is concerned he can't win a title with this current bunch. He has a $52.4 million player option on his 2025-26 season salary when he'll be 36. The five-time All-NBA honoree and five-time All-Defensive Teamer remains a remarkably effective two-way force. He's averaging 19.0 points on .557/.360/.787 shooting splits this year, along with 5.4 rebounds, 4.8 assists and 1.2 steals a night. Beyond the three aforementioned squads, the capped-out Phoenix Suns have also controversially been floated as a possible destination for Butler. ESPN's Shams Charania first reported the rumor, only to see it refuted by Butler's own agent, Bernard Lee. Charania clapped back at Lee on Thursday, claiming that his intel was thoroughly sourced. Read more: Shams Charania Fires Back at Jimmy Butler Agent Over Trade Rumor Drama Now, John Gambadoro of Arizona Sports 98.7 FM Phoenix backs up Charania's contention that the Suns have indeed been sniffing around. Shams is not incorrect. From what I have heard Jimmy Butler is interested in the Phoenix Suns. "Shams is not incorrect. From what I have heard Jimmy Butler is interested in the Phoenix Suns," Gambadora writes. "I don't rush on these things I take my time to make sure what I report is correct." Under the league's restrictive new CBA, it would be incredibly tough for Phoenix to add Butler. Obviously, the $50.2 million contract of former All-Star Suns shooting guard Bradley Beal would be a good match for Butler's $48.8 million salary. But Butler, not Beal, is the asset in that transaction. Though Beal is still a solid scorer when healthy, he rarely can avoid injuries for long and is not nearly the same two-way, clutch postseason presence. The Suns would need to, presumably, attach a lot of assets in an exchange. But Phoenix possesses no tradable first-round selections. At all. The team does have three second-rounders it could deal with and could offer up a pick swap in 2021. That kind of package would hardly appeal to the Heat, however, who could easily add more future equity in a trade with one of the three aforementioned other squads. Naturally, adding Butler to a roster headlined by two other likely future Hall of Famers, All-Star power forward Kevin Durant and All-Star shooting guard Devin Booker, could help lift the Suns above the play-in fray in which they currently find themselves. But would it be enough to push the team into true contention status, with 35-year-old Butler and 36-year-old Durant being no spring chickens, health-wise? For more on the Heat and Suns, check out Newsweek Sports.'Never underestimate the power of the public': Inside the 6-day hunt for CEO Brian Thompson's killer
In a landmark move aimed at reinforcing the Dominican Republic’s position as a regional trade powerhouse, the Ministry of Foreign Affairs (MIREX) and the General Directorate of Customs (DGA) have signed an interinstitutional agreement to amplify export opportunities and enhance administrative efficiency. This collaboration is poised to redefine the country’s role in global trade, strengthening its standing as the premier logistics hub in the Caribbean and Central America. The agreement, signed by Foreign Minister Roberto Álvarez and Customs Director Eduardo Sanz Lovatón, marks a significant step toward integrating diplomatic efforts with commercial strategies. By leveraging up-to-date trade data and modernized processes, the partnership seeks to empower Dominican diplomatic missions worldwide with real-time information, enhancing their ability to attract investment, promote exports, and streamline import processes. “This agreement elevates our capacity to act decisively and strategically in the global market,” said Foreign Minister Álvarez. “With real-time access to trade data, our diplomatic missions will operate with unprecedented precision, promoting Dominican exports and solidifying our position as a key logistics hub in the region. This is more than a partnership; it’s a gateway to innovation and efficiency.” Director Sanz Lovatón highlighted the importance of the initiative in showcasing the Dominican Republic as a global example of logistics excellence. “Under President Luis Abinader’s administration, we have transformed our customs operations, increasing our contribution to state revenue from 18% to 25%. This agreement strengthens our ongoing initiatives, such as the successful ‘Exporta +’ program, which now includes 109 registered companies,” Sanz Lovatón remarked. The agreement focuses on modernizing trade processes by automating cross-border trade requests to Haiti, thereby eliminating the need for in-person submissions and significantly reducing bureaucratic hurdles. It also emphasizes capacity building, with MIREX facilitating international training opportunities for Customs personnel in areas such as foreign trade, customs security, and modernization. Additionally, the initiative aims to optimize the Single Window for Foreign Trade (VUCE) system, streamlining trade processes and drastically reducing response times for administrative requests. This historic partnership underscores the Dominican Republic’s commitment to fostering economic growth and regional leadership. By integrating sea, air and land transportation systems, the agreement enhances the country’s appeal as a trade and logistics hub. Moreover, it positions the Dominican Republic as a model for customs operations worldwide, aligning with international standards of efficiency and innovation. “This is not just an agreement; it is a testament to the power of collaboration,” Minister Álvarez emphasized. “With our united efforts, the Dominican Republic is set to lead the region in trade and logistics, demonstrating that innovation and efficiency go hand in hand.” The MIREX-DGA alliance represents a bold step forward in the Dominican Republic’s quest to become a global trade leader. By combining cutting-edge technology, diplomatic expertise, and strategic vision, this initiative lays the foundation for a future where the country’s economic potential is fully realized.
REVITALIZING HEALTHCARE | SM Foundation’s commitment to Tacloban’s health infrastructureHowling winds could not stop Notre Dame Cathedral’s heart from beating again. With three resounding knocks on its doors by Paris Archbishop Laurent Ulrich, wielding a specially designed crosier carved from fire-scorched beams, the monument roared back to life on Saturday evening. For the first time since a devastating blaze nearly destroyed it in 2019, the towering Gothic masterpiece reopened for worship, its rebirth marked by song, prayer, and awe beneath its soaring arches. The ceremony, initially planned to begin on the forecourt, was moved entirely inside due to unusually fierce December winds sweeping across the Ile de la Cite, flanked by the River Seine. Yet the occasion lost none of its splendour. Inside the luminous nave, choirs sang psalms, and the cathedral’s mighty organ, silent for nearly five years, thundered to life in a triumphant interplay of melodies. In his speech, Mr Macron expressed “gratitude” to those who saved, helped and rebuilt the cathedral. “I stand before you ... to express the gratitude of the French nation,” he said at the reopening ceremony. “Tonight, the bells of Notre Dame are ringing again. And in a moment, the organ will awaken,” sending the “music of hope” to Parisians, France and the world. He praised the bravery of fire fighters and recalled how, at 10.47pm on the night of April 15 2019, the first message came through saying that the inferno was being beaten. “Notre Dame of Paris was saved. Disfigured but saved,” he said. Moving onto the rebuilding effort, he detailed the toil of the more than 2,000 workers and artisans who worked to a five-year reconstruction deadline set by Mr Macron. “We decided to rebuild Notre Dame of Paris even more beautiful than before.” Mr Macron delivered the entire speech in French despite the multinational mix of VIP guests. At the end, Mr Trump and Mr Macron shook hands. The restoration, a spectacular achievement in just five years for a structure that took nearly two centuries to build, is seen as a moment of triumph for French President Emmanuel Macron, who championed the ambitious timeline – and a welcome respite from his domestic political woes. The evening’s celebration, attended by 1,500 dignitaries, including President-elect Donald Trump, Britain’s Prince William, and Ukrainian President Volodymyr Zelensky, underscored Notre Dame’s enduring role as both a spiritual and cultural beacon. Observers see the event as Mr Macron’s, and his intention to pivot it into a fully fledged, diplomatic gathering, while highlighting France’s ability to unite on the global stage despite internal political crises. Inside, 42,000 square meters of stonework – an area equal to six football pitches – were meticulously cleaned, revealing luminous limestone and intricate carvings. Overhead, 2,000 oak beams, nicknamed “the forest”, were used to rebuild the spire and roof, restoring the cathedral’s iconic silhouette. The thunderous great organ, with 7,952 pipes ranging from pen-sized to torso-wide, resounded for the first time since the fire. Its newly renovated console, boasting five keyboards, 115 stops, and 30 foot pedals, was a marvel of restoration, reawakening a cornerstone of Notre Dame’s identity. Guests gradually filing into the cathedral for the evening reopening ceremonies were awestruck by the renovated interiors, many whipping out mobile phones to capture the moment. Guests entered through Notre Dame’s iconic western facade, whose arched portals adorned with biblical carvings were once a visual guide for medieval believers. Inside, the hum of hundreds of guests awaiting the service filled the cathedral with human sounds once more – a stark contrast to the construction din that echoed there for years. The celebration is expected to give a much-needed boost to embattled Mr Macron, whose prime minister was ousted this week, plunging the nation’s politics into more turmoil. The French president, who has called Notre Dame’s reopening “a jolt of hope”, will address the gathering. He had hoped the occasion would briefly silence his critics and showcase France’s unity and resilience under his leadership. Macron’s presidency now faces its gravest crisis after the government’s collapse this week in a historic no-confidence vote that toppled Prime Minister Michel Barnier. Security will be high through the weekend, echoing measures taken during the Paris Olympics earlier this year. The Ile de la Cite – the small island in the River Seine that is home to Notre Dame and the historic heart of Paris – is closed to tourists and non-residents. Public viewing areas along the Seine’s southern bank will accommodate 40,000 spectators, who can follow the celebrations on large screens. For many, Notre Dame’s rebirth is not just a French achievement but a global one – after the reopening, the cathedral is set to welcome 15 million visitors annually, up from 12 million before the fire.Iowa cornerback Jermari Harris has opted out of the remainder of the 2024 season in order to prepare for the NFL draft, according to a report by 247Sports.com . The 6-foot-1 sixth-year senior from Chicago has recorded 27 tackles, three interceptions and a team-high seven pass breakups in 10 games for the Hawkeyes this season. That includes a pick-6 in a 38-21 win over Troy earlier this season. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. The aging of the Baby Boomer generation (those born between 1946 and 1964) has significantly increased the share of the U.S. population aged 55+ during the past decade: from 24.9% in 2010, to 30.2% in 2023. And a growing number of these Americans are opting to age in place or downsize—creati... Click for more. American Cities With the Oldest Homebuyers
IN BRIEF: • Financial controllers need to step beyond compliance to create value and remain indispensable copilots to CFOs in driving organizational innovation and growth. • AI adoption enhances controller impact on enterprise-wide operational efficiency, contributing to macroeconomic growth. The rapid acceleration of digital transformation is reshaping the business landscape, compelling finance teams to manage returns on investment goals, meet customer demand for innovation, and align with long-term sustainability objectives — all at the same time. This intersection of often-competing demands characterizes today’s Age of And, where success relies on an organization’s ability to effectively navigate and excel in managing these demands simultaneously. This evolving landscape necessitates a strategic shift in roles. Financial controllers, in particular, are moving beyond their traditional focus on operational tasks such as bookkeeping, compliance, and resource allocation and are now positioned as strategic enablers of value creation. According to the 2024 EY DNA of the Financial Controller Report, 86% of surveyed controllers across 28 countries recognize that their responsibilities will evolve substantially over the next five years. To execute their redefined responsibilities, controllers must harness tools such as analytics, automation, and artificial intelligence (AI) to transform vast amounts of data into actionable insights that can support strategic decision-making. Predictive analytics enables controllers to identify trends, forecast scenarios, and optimize budgeting. For example, analyzing historical financial data facilitates cash flow prediction and improves financial planning, allowing for agile responses to business challenges. Automation tools like robotic process automation (RPA) streamline reconciliations and report generation, reducing errors and accelerating processes. Automating financial statement consolidation enhances accuracy and delivers timely insights, empowering controllers to focus on strategic activities. AI-powered solutions, such as machine learning algorithms, detect anomalies, assess credit risk, and anticipate market trends. These capabilities help controllers proactively manage risk and capitalize on strategic opportunities, reinforcing their role as value creators. However, the successful integration of these tools requires controllers to adapt their skillsets and embrace a more collaborative role with Chief Financial Officers (CFOs) as copilots in driving innovation and organizational agility. This shift fosters greater cohesion within finance teams, breaking down traditional silos that often hinder efficiency and strategic alignment. CREATING VALUE FROM DATA Organizations are sitting on a gold mine of financial data, yet this resource often remains underutilized. Controllers can unlock this value using AI tools to transform complex datasets into actionable strategies. AI automates routine workflows, such as data consolidation and reporting, enhancing accuracy and freeing controllers to concentrate on strategic responsibilities like risk assessment and planning. Additionally, AI-driven analysis empowers controllers to forecast trends and develop proactive strategies, elevating their role as strategic contributors. Beyond its micro-level benefits, AI has the potential to stimulate macroeconomic growth. In fact, a study by a global tech company estimates that AI adoption among Philippine businesses could contribute P2.8 trillion to the economy by 2030. In the vital sector of micro, small, and medium enterprises (MSMEs), which account for 99.63% of Philippine businesses according to the 2023 List of Establishments compiled by the Philippine Statistics Authority, a data-driven ecosystem is essential for streamlining operations, boosting productivity, and achieving sustainable growth. AI tools play a pivotal role by automating routine financial tasks such as accounts receivable (AR) collection. For instance, an AI-powered AR Collection Assistant helps prioritize accounts, identify at-risk customers, and recommend optimal actions. Integration with enterprise resource planning (ERP) systems creates a unified platform for agents, improving efficiency and simplifying follow-up processes. By leveraging AI and automation, businesses can strengthen governance, reduce costs, and enhance operational efficiency, leading to long-term value creation. Additionally, integrating AI into business processes allows MSMEs to analyze complex datasets swiftly, uncovering actionable insights for strategic decision-making. For example, AI-driven predictive analytics can forecast financial trends, enabling businesses to proactively align strategies with organizational goals. UPSKILLING FOR THE FUTURE While many companies understand the importance of digital transformation, recognition alone will not drive progress. Delayed implementation risks leave organizations mired in inefficiency while competitors advance toward innovation and growth. In the Philippines, a disconnect between ambition and readiness for AI adoption stalls digital transformation among companies. A survey by another global tech company found that although 65% of Philippine companies allocate 10-30% of their IT budgets to AI adoption, only 22% are fully prepared to implement AI technologies. One critical obstacle is the skills gap, with only 23% of survey respondents reporting employee proficiency in managing AI tools. Within finance teams, this shortfall hinders controllers from meeting their redefined responsibilities, ultimately limiting their contributions and impacting organizational success in an increasingly complex business landscape. REIMAGINING TALENT STRATEGIES Redefined roles often encounter resistance, particularly as traditional roles for controllers have focused primarily on value protection (e.g., regulatory compliance) and value optimization (e.g., budget planning, cost analysis, and investment evaluation). To address this, organizations must prepare teams for future-oriented responsibilities in value creation. One clear step is articulating a compelling vision for the controller role, emphasizing how their redefined responsibilities can contribute to the company’s long-term growth strategy. This approach not only clarifies their evolving responsibilities but also motivates teams to align with broader organizational objectives. For new hires, prioritizing adaptable mindsets and a willingness to learn over rigid credentials ensures a more future-ready workforce. Meeting evolving role expectations also requires targeted upskilling through robust training programs, mentorship, and leadership opportunities, enabling controllers to excel in their redefined roles. ACTIONS FOR FINANCE LEADERS Organizational support is critical to empower controllers and their teams to develop the necessary skills while managing day-to-day responsibilities. According to the EY report, 59% of controllers state that their organizations encourage them to evolve into value creators to a large extent. However, many feel they lack adequate resources and support to make the transition. CFOs and senior leaders can address this gap by allocating budgets for technology adoption and fostering cross-functional collaboration. Providing autonomy and facilitating engagement with the C-suite and key stakeholders can transform controllers into strategic drivers of value. CFOs can further empower financial controllers by: Integrating innovation into roles. Redefine job descriptions to include innovation as a core responsibility, directly linking it to performance metrics to ensure that controller efforts contribute to enterprise-wide value creation. Leading transformative projects. Provide controllers with leadership opportunities in transformation initiatives, supported by adequate budgets, staffing, and mentorship. These experiences cultivate strategic thinking and innovation capabilities. Focusing on future-ready skills. Equip controllers with expertise in data analytics, AI, and strategic decision-making. These skills will prepare them for evolving financial landscapes and amplify their organizational impact. Expanding responsibilities strategically. Gradually assign controllers additional responsibilities to deepen their expertise and prepare them for future leadership roles, including the position of CFO. Developing a talent pipeline. Build a robust talent pipeline by identifying high-potential candidates for controllership roles. Provide these individuals with targeted training and mentorship to ensure the role remains a source of innovation and leadership. THE FUTURE-READY CONTROLLER Controllers must take an active role in their evolution. By embracing opportunities to view value creation through a broader lens, they can enhance their contributions to financial planning and analysis (FP&A) and investor relations. Strengthening engagement with the C-suite and other key internal and external stakeholders is equally essential. Successful transformation into a redefined role ultimately requires a commitment to continuous personal development. To achieve this, controllers should focus on the following key areas: Embracing uncertainty and disruption. Proactively seek new opportunities to create organizational value, balancing these initiatives with compliance oversight and operational efficiencies. Exploiting the potential of data and AI. Leverage financial data alongside operational and external data sources to generate insights that enable informed executive decision-making. Additionally, develop a roadmap for an AI-enabled controllership team, identifying the necessary data, processes, and controls. Equipping teams for the future. Encourage agility by fostering diverse skills within teams, including business, personal, and technological capabilities. Inspire team members to view themselves as innovators and problem-solvers beyond their roles as financial and compliance experts. PRIORITIZING CULTURAL ADAPTABILITY Organizations must embrace a cultural shift that prioritizes adaptability and a growth-oriented mindset over reliance on legacy processes. To complement this shift, organizations must integrate a digital-first culture to break down silos and enhance operational efficiency, giving way for better, data-driven decision-making across all functions. In doing so, controllers can leverage their redefined roles to streamline processes, provide actionable trends and insights, and drive innovation, making them integral contributors to sustainable growth and organizational success. This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co. Anna Maria Rubi B. Diaz is an assurance partner under the Financial Accounting Advisory Services (FAAS) of SGV & Co.