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SMU owns second half in win over LongwoodPrincipal Financial Group Inc. raised its stake in shares of The Baldwin Insurance Group, Inc. ( NASDAQ:BRP – Free Report ) by 40.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,232 shares of the company’s stock after acquiring an additional 21,174 shares during the quarter. Principal Financial Group Inc. owned approximately 0.06% of The Baldwin Insurance Group worth $2,392,000 at the end of the most recent quarter. Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in shares of The Baldwin Insurance Group during the 1st quarter valued at about $207,000. Confluence Investment Management LLC raised its position in shares of The Baldwin Insurance Group by 178.6% during the 2nd quarter. Confluence Investment Management LLC now owns 345,789 shares of the company’s stock worth $12,265,000 after purchasing an additional 221,668 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of The Baldwin Insurance Group by 6.3% in the 2nd quarter. Moody National Bank Trust Division now owns 7,420 shares of the company’s stock worth $263,000 after purchasing an additional 440 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of The Baldwin Insurance Group by 11.2% in the 2nd quarter. Diversified Trust Co now owns 37,800 shares of the company’s stock worth $1,341,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in The Baldwin Insurance Group during the 2nd quarter valued at approximately $5,177,000. 70.42% of the stock is owned by institutional investors and hedge funds. The Baldwin Insurance Group Stock Performance BRP stock opened at $47.83 on Friday. The stock’s fifty day moving average is $48.77 and its two-hundred day moving average is $41.95. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of -51.99, a PEG ratio of 0.91 and a beta of 1.54. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 0.90. The Baldwin Insurance Group, Inc. has a 1 year low of $17.33 and a 1 year high of $33.03. About The Baldwin Insurance Group BRP Group, Inc operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families. Further Reading Five stocks we like better than The Baldwin Insurance Group What Is WallStreetBets and What Stocks Are They Targeting? Tesla Investors Continue to Profit From the Trump Trade CD Calculator: Certificate of Deposit Calculator MicroStrategy’s Stock Dip vs. Coinbase’s Potential Rally Profitably Trade Stocks at 52-Week Highs Netflix Ventures Into Live Sports, Driving Stock Momentum Want to see what other hedge funds are holding BRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Baldwin Insurance Group, Inc. ( NASDAQ:BRP – Free Report ). Receive News & Ratings for The Baldwin Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Baldwin Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter .
TORONTO, ONTARIO / ACCESSWIRE / December 18, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce in connection with its previously completed public offering of 5,175,000 common shares in the capital of the Company (the "Common Shares") at the price of US$2.15 per Common Share (the "Offering Price") for gross proceeds of approximately US$11.1 million (the "Offering") that Roth Capital Partners, acting as sole book-running manager, and Raymond James Ltd. and Craig-Hallum Capital Group LLC acting as the co-lead book-running managers in the Offering, have purchased an additional 776,250 Common Shares at the Offering Price, for additional gross proceeds to the Company of US$1,668,937.50, before deducting the underwriting commissions, pursuant to their exercise in full of the over-allotment option (the "Over-Allotment Option"). After giving effect to the full exercise of the Over-Allotment Option, the Company sold 5,951,250 Common Shares under the Offering, for aggregate gross proceeds of US$12,795,188.00. The Company intends to use the net proceeds from the Offering to satisfy conditions associated with the loan approved by the Export-Import Bank of the United States announced by the Company on November 14, 2024, repayment of amounts under the Company's existing working capital facility in advance of proposed bank refinancing and for the costs of such financing, and satisfaction of certain outstanding amounts in connection with the purchase of the Company's Jamestown, New York manufacturing facility. The Common Shares were offered in the United States pursuant to a shelf registration statement (including a prospectus supplement thereto) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on September 25, 2024 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States, and were qualified for distribution in the provinces and territories of Canada by way of a prospectus supplement to the Company's base shelf prospectus dated September 17, 2024. No securities were sold in the Province of Québec. The prospectus supplement and accompanying shelf registration are available for free on the SEC's website at www.sec.gov and the prospectus supplement and accompanying base shelf prospectus filed in Canada are available on the Company's profile on the SEDAR+ website at www.sedarplus.ca . Copies of the prospectus supplement and accompanying prospectus relating to the Offering may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800)-678-9147 or e-mail at rothecm@roth.com . This news 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 province, 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 province, state or jurisdiction. Investor and Media Contact: Jason Roy VP, Corporate Development and Investor Relations Electrovaya Inc. 905-855-4618 / jroy@electrovaya.com About Electrovaya Inc. Electrovaya Inc. (NASDAQ:ELVA) (TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com . Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering. Forward-looking statements can generally, but not always, be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements are necessarily based on assumptions, and involve risks and uncertainties, therefore undue reliance should not be placed on such statements. Material assumptions on which forward-looking statements in this news release include assumptions about the ability to complete a loan financing with EXIM and the market price of the Common Shares. Material risks and other factors that could cause actual results to differ from any forward-looking statement market conditions and other risks that may be found in the prospectus supplement and base shelf prospectus filed in connection with the Offering, including those risks described under the heading "Risk Factors", and the documents incorporated by referenced therein. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. SOURCE: Electrovaya Inc. View the original on accesswire.comTORONTO, ONTARIO / ACCESSWIRE / December 18, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce in connection with its previously completed public offering of 5,175,000 common shares in the capital of the Company (the "Common Shares") at the price of US$2.15 per Common Share (the "Offering Price") for gross proceeds of approximately US$11.1 million (the "Offering") that Roth Capital Partners, acting as sole book-running manager, and Raymond James Ltd. and Craig-Hallum Capital Group LLC acting as the co-lead book-running managers in the Offering, have purchased an additional 776,250 Common Shares at the Offering Price, for additional gross proceeds to the Company of US$1,668,937.50, before deducting the underwriting commissions, pursuant to their exercise in full of the over-allotment option (the "Over-Allotment Option"). After giving effect to the full exercise of the Over-Allotment Option, the Company sold 5,951,250 Common Shares under the Offering, for aggregate gross proceeds of US$12,795,188.00. The Company intends to use the net proceeds from the Offering to satisfy conditions associated with the loan approved by the Export-Import Bank of the United States announced by the Company on November 14, 2024, repayment of amounts under the Company's existing working capital facility in advance of proposed bank refinancing and for the costs of such financing, and satisfaction of certain outstanding amounts in connection with the purchase of the Company's Jamestown, New York manufacturing facility. The Common Shares were offered in the United States pursuant to a shelf registration statement (including a prospectus supplement thereto) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on September 25, 2024 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States, and were qualified for distribution in the provinces and territories of Canada by way of a prospectus supplement to the Company's base shelf prospectus dated September 17, 2024. No securities were sold in the Province of Québec. The prospectus supplement and accompanying shelf registration are available for free on the SEC's website at www.sec.gov and the prospectus supplement and accompanying base shelf prospectus filed in Canada are available on the Company's profile on the SEDAR+ website at www.sedarplus.ca . Copies of the prospectus supplement and accompanying prospectus relating to the Offering may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800)-678-9147 or e-mail at rothecm@roth.com . This news 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 province, 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 province, state or jurisdiction. Investor and Media Contact: Jason Roy VP, Corporate Development and Investor Relations Electrovaya Inc. 905-855-4618 / jroy@electrovaya.com About Electrovaya Inc. Electrovaya Inc. (NASDAQ:ELVA) (TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com . Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering. Forward-looking statements can generally, but not always, be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements are necessarily based on assumptions, and involve risks and uncertainties, therefore undue reliance should not be placed on such statements. Material assumptions on which forward-looking statements in this news release include assumptions about the ability to complete a loan financing with EXIM and the market price of the Common Shares. Material risks and other factors that could cause actual results to differ from any forward-looking statement market conditions and other risks that may be found in the prospectus supplement and base shelf prospectus filed in connection with the Offering, including those risks described under the heading "Risk Factors", and the documents incorporated by referenced therein. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. SOURCE: Electrovaya Inc. View the original on accesswire.com
McDaniel puts up 22 in Lindenwood's 81-63 victory over IU IndianapolisTownsend & Associates Inc Sells 120 Shares of Alphabet Inc. (NASDAQ:GOOGL)Ange Postecoglou searching for answers over Tottenham’s injury crisisSAINT CHARLES, Mo. (AP) — Jaylon McDaniel's 22 points helped Lindenwood defeat IU Indianapolis 81-63 on Saturday night. McDaniel shot 9 of 12 from the field and 4 of 6 from the free-throw line for the Lions (5-6). Markeith Browning II scored 18 points while going 8 of 19 (1 for 3 from 3-point range) and added seven rebounds, five assists, and three steals. Reggie Bass shot 3 for 6 (2 for 5 from 3-point range) and 6 of 7 from the free-throw line to finish with 14 points, while adding seven rebounds and six assists. Paul Zilinskas finished with 18 points for the Jaguars (5-8). IU Indianapolis also got 13 points and two steals from Jarvis Walker. Alec Millender also recorded 11 points and five assists. NEXT UP Lindenwood's next game is Thursday against Tennessee Tech at home, and IU Indianapolis visits Florida International on Saturday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
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Geotab Connect will be held on February 25-27 at Walt Disney World Resort in Orlando, Florida TORONTO , Dec. 17, 2024 /PRNewswire/ - Geotab Inc. ("Geotab"), a global leader in connected transportation, announces Geotab Connect 2025, taking place on February 25-27 at Walt Disney World Swan & Dolphin Resort in Orlando, Florida . This premier event will bring together industry leaders, fleet managers, and innovators to explore the latest trends and technologies shaping the future of transportation. Geotab Connect 2025 promises a unique opportunity to dive into key topics such as innovation, data intelligence, artificial intelligence (AI), safety, efficiency, and sustainability. This year's conference will spotlight the power of data insights in driving real-world impact, showcasing customer success stories and offering valuable perspectives from influential voices in the transportation industry. Attendees can look forward to over 40 engaging sessions, featuring leading experts in the telematics industry. Leading the charge in these discussions will be Neil Cawse , Founder and CEO of Geotab, Sabina Martin , Vice President of Product Management at Geotab, and Mike Branch , Vice President of Data and Analytics at Geotab, who will showcase the company's latest innovations and explore key trends shaping the year ahead. Attendees will also hear from global industry leaders, including the American Trucking Associations (ATA), Penske, UPS, and more. "Geotab Connect 2025 is where innovative minds come together to share critical knowledge and solutions for navigating a rapidly changing industry,'' said Derek Luke , Chief Operating Officer at Geotab. "As we continue to harness the power of data and AI to drive smarter, safer, and more sustainable transportation solutions, this event will highlight how these advancements are making a real-world impact and transforming the way fleets operate globally." The event will also showcase Geotab's expansive ecosystem of Marketplace partners. The dynamic show floor will include the Geotab Product Center, offering a firsthand look at the latest product innovations, as well as the IOX Games, a fun and interactive competition with enhanced challenges and exciting new twists. For more information on Geotab Connect 2025 or to register, please visit: https://www.geotab.com/connect/ . About Geotab Geotab, a global leader in connected vehicle and asset solutions, leverages advanced data analytics and AI to enhance fleet performance, safety, and sustainability while optimizing costs. Backed by a team of industry leading data scientists, engineers and AI experts, we serve over 50,000 customers across 160 countries, processing billions of data points hourly from more than 4 million vehicles. Data security and privacy are at the forefront of all we do—trusted by Fortune 500 organizations and some of the largest public sector fleets in the world, we meet top cybersecurity standards. Geotab's open platform and diverse Geotab Marketplace offers hundreds of fleet-ready third-party solutions. Learn more at www.geotab.com and follow us on LinkedIn or visit Geotab News and Views . SOURCE Geotab Inc.World reacts to the death of former President Jimmy CarterTurkish Airlines ( ) has announced a strategic partnership with to enhance passenger experience through a new . The announcement came from Turkish Airlines Board Chairman Ahmet Bolat, who highlighted the system’s potential to improve operational efficiency. The collaboration aims to eliminate lost luggage concerns for travelers and elevate customer satisfaction to new heights. “As Turkish Airlines, we are excited to partner with Apple to implement this advanced baggage tracking system. Passengers will now be able to monitor their luggage seamlessly using Apple’s iOS 16 system and nearby tracking technology via AirTag and Find My features,” Bolat said in a social media post. Through the system, passengers can conveniently locate their baggage and share its real-time status using Apple’s tools. By integrating AirTag technology, Turkish Airlines will provide a smoother and more transparent travel experience, allowing travelers to retrieve misplaced baggage faster and with ease. Bolat added that the technology securely shares location data and automatically deletes it within seven days unless manually removed earlier. Turkish Airlines also plans to incorporate this feature into its own mobile app. In another milestone, Turkish Airlines launched its longest route yet with its first direct flight to Santiago, Chile, marking the 26th destination in the Americas and the 10th country on the continent to feature regular service. The inaugural flight departed from Istanbul on Dec. 18. Initially operated with Boeing 777-300ER aircraft, the route will later include Airbus A350-900 and A350-1000 aircraft to accommodate growing demand.5 Big Records That India Broke in 2024
Donald Trump Says Country Owes Jimmy Carter A 'Debt of Gratitude'DETROIT − When a new movie arrives about Flint, Mich., it's usually yet another documentary on the water crisis that has defined the city in the public eye for the past decade. But that's not the case with "The Fire Inside," a film that may put Flint on the map for beating the odds. The gritty, compelling biopic tells the story of Claressa Shields, the two-time Olympic boxing champion who has gone on to win all 15 of her matches as a professional. Shields says it's "about triumph, victory" and "shows the resilience of the people of Flint." "That's how I got to where I am," she says. Shields is 29, but to her hometown, she remains the young girl with an unlikely dream who worked and worked until she made it a reality. "They still see me as that 11-year-old kid that was walking around ... asking for donations to make it to these big tournaments," she says. "Some people gave one hundred (dollars), some people gave a dollar, some gave 10 cents, some gave prayer. But all of it helped me get to where I am. I always want to pay homage to that." On this morning, Shields is sitting on a hotel couch with Ryan Destiny, the rising Detroit actress who portrays her in the film, and Rachel Morrison, the Oscar-nominated cinematographer of "Fruitvale Station" and "Black Panther," who makes her directing debut with "The Fire Inside." The three women express their mutual admiration during a conversation about the drama, with Shields providing much of the candor and humor. She says she initially was disappointed to find out the film would open on Christmas Day, not realizing that Dec. 25 is a popular release date for movies considered awards contenders. "Somebody was like, 'Claressa, the best movies come out on Christmas Day.' And I'm like, 'Oh, (expletive), you're right!" she says as Destiny and Morrison join her in laughter. Starring Destiny as Shields and Brian Tyree Henry as her coach, Jason Crutchfield, the movie details the obstacles faced by the aspiring young boxer (which include a dysfunctional home environment and financial insecurity) as she goes from learning the basics of the sport at age 11 to competing at the 2012 London Olympics at 17. Once she brings home the gold and becomes the first U.S. woman to do so, Shields is confronted by another fierce opponent. The young Black female boxer faces the bias that closes the doors to endorsement deals and wider fame. Although she deserves both, Shields knows she won't get them unless she fights against the gaps in fairness and equity. Shields would go on to another win at the 2016 Olympics in Rio de Janeiro, becoming the only U.S. boxer, male or female, to earn back-to-back gold medals at the games. By then, she'd been the subject of a documentary, "T-Rex: Her Fight for Gold." (Shields got the nickname T-Rex early on for her short arms and aggressive punching style.) "The Fire Inside," inspired by the documentary, was written by Oscar-winning "Moonlight" filmmaker Barry Jenkins. He also was brought in to possibly direct, but he felt that a woman, specifically Morrison, should be in the directing chair. Morrison already had made Oscar history by becoming the first woman nominated in the cinematography category for 2017's "Mudbound." Filming on "The Fire Inside" began in 2020 and lasted two days before the COVID-19 pandemic lockdown went into effect. Shooting resumed two years later, after the project moved from Universal to Amazon MGM. "The simplest way to put it is that the story of making the movie mirrors a bit of" Shields' journey, says Morrison of the delays. When the film finally debuted at Toronto Film Festival in September, it earned strong notices for its emotional impact. The Guardian raved that "this is a living, breathing drama of real people and real emotions and one that therefore has real heft to it." Both Destiny, who grew up in Detroit, and Morrison say they felt a bond to Shields' story, in different ways. "The fact that we're the same age is crazy," says Destiny, noting that she, like Shields, began striving for success as a tween. The actress, who has appeared in the Fox series "Star" and the movie "A Girl Like Grace" with Meagan Good and Garcelle Beauvais, also relates to Shields as a young Black woman from an underdog city. Detroit is "an amazing place to be from," Destiny says, "but I don't think people understand or respect it because they don't know enough about these places (like Detroit and Flint)." For Morrison, there was resonance in the fact that Shields had to keep proving herself long after a man in the same career path would have. "This idea that it's not enough just to be good at what you do, but you also have all these other hoops you have to jump through." The delays in filming wound up giving Destiny more time for training and honing her ability to convincingly depict Shields in the ring. The actress, who delivers a breakout performance, says transforming herself physically for the role involved "definitely a lot of sweat, definitely a lot of time. Blood, sweat and tears, as you would say. That is definitely how it went for me." Shields gives Destiny high marks for realism. "She was doing her scene of running down the street. And people were texting me and calling me, and I was like, 'What do you guys want?' And they're like, 'Are you in Flint?' No. 'Is that not you running down the street?' No, it's not. It was one of those moments where (I knew) she was doing a good job." Under Morrison's direction, "The Fire Inside" gives viewers a vivid sense of what Shields was going through internally − and sometimes hiding behind a tough, impassive exterior − on her path to the Olympics. There's an intimacy and empathy to the film's focus on Shields that can be missing from classic male-driven boxing dramas. "I really wanted to have the audience feel like they were experiencing it from her perspective," Morrison says. Shields says she didn't interfere with the filmmaking process and trusted Destiny and Morrison to get it right. "I'm a person that believes if we all do our jobs, everybody's job gets done. I think when we start crossing lines is when stuff gets messed up." When Shields finally watched the film at a private screening in Los Angeles, she tried to approach it as a moviegoer, not the main character. She cried at times and clenched her fist at other parts as she felt the emotions being portrayed on the screen. She says she left impressed by the "great job" done by Destiny, Morrison and Jenkins. Not long after that screening in January, Shields finally was able to meet Destiny in person. Although they previously had talked over the phone, texted and chatted on FaceTime, they had never been face to face. Destiny, who was having a birthday party, asked Shields whether she would like to meet there. "I thought to myself ... 'Wow, if she hates this, this is going to be really awkward,' " Destiny recalls with a laugh. Not to worry. Shields has nothing but raves for Destiny's acting. "She did a very great job. The clothing, the confidence, the hair, the ferociousness, the attitude. I had the attitude back then. I still have it now." Perhaps her highest praise is that Destiny's performance was authentic outside and inside the ring. "It shows how great of an actress that she is, because some parts were happy, some were sad, some were tough and rough," Shields says. "And to see her even when punches are being thrown at her, she's not blinking. Boxers do that. Real boxers." Destiny says she feels changed by the whole experience of "The Fire Inside." So does Morrison, who says, "You have a real-life superhero right here and we got to tell that story. It was such a gift." The movie has a strong message on the power of persistence and believing in yourself. Says Shields: "When I was getting ready for the 2016 Olympics, everybody kept saying, 'It's impossible for an American (boxer) to win two Olympic gold medals (back to back). It's never happened and it's not going to happen now. Claressa, you've got to know that. What you're trying to do is not possible." So Shields wrote down the word "impossible" and kept looking at it. "I said, 'What is most important about this word? At the beginning of the word impossible is .... I'm.' You take that off, what does it say? It's possible.'" Destiny, sitting to the right of Shields, joins in by saying, "I am possible." The fire inside these women is still going strong.
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Revolutionizing Virtual Economy! PM Stock System Transforms Gaming LandscapeA ninth U.S. telecoms firm has been confirmed to have been hacked as part of a that gave officials in access to private texts and phone conversations of an unknown number of Americans, a top White House official said Friday. Biden administration officials said , 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.
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