Oscar-winning actor Jamie Foxx has opened up about the medical emergency he faced last year , revealing that he had a brain bleed that led to a stroke. The Hollywood star detailed the struggles he had with his health last year. "It is a mystery," he said. "We still don't know exactly what happened to me." "April 11, I was having a bad headache and I asked my boy for an aspirin. And I realized quickly that when you're in a medical emergency, your boys don't know what the f--- to do," he said. "Before I could get the aspirin I went out," he said. "I don't remember 20 days." Foxx thanked his sister , who he said was "4 foot 11 of nothing but pure love," for driving him around Atlanta to find a hospital. They ended up at Piedmont Hospital, where a doctor told them that Foxx was having a brain bleed that had led to a stroke and that he would die without an operation, the actor said. After the operation, doctors said that Foxx might make a full recovery "but it's going to be the worst year of his life," Foxx recounted. Foxx's family kept him out of the public eye because he was "so dizzy" that his head would bob around and his daughter was concerned that people would turn him into an internet meme if they saw his condition, he said. On May 4, he remembers waking up in a wheelchair and not being able to walk, and reacting in shock when his friend told him he'd had a stroke. "Jamie Foxx don't get strokes," the actor remembered saying. He was then flown to Chicago for rehab, where he says he was told to drop the "arrogant" act if he wanted to make a full recovery. The actor was hospitalized in April 2023 after having a then-undisclosed health crisis while filming a Netflix film in Atlanta. At the time of his hospitalization, his daughter Corinne Foxx said on social media that her father had suffered a "medical complication," but those close to him largely stayed tight-lipped about the actor's condition, in keeping with his penchant for privacy. In July 2023, Foxx posted an Instagram video update in which he addressed the speculation about what led to his hospitalization, although he did not reveal details of what happened. "I know a lot of people were waiting or wanting to hear updates but to be honest with you, I just didn't want you to see me like that, man," he said in the video. "I want you to see me laughing, having a good time, partying, cracking a joke, doing a movie, television show. I didn't want you to see me with tubes running out of me and trying to figure out if I was gonna make it through." Foxx shared another health update on his verified social media in August 2023. "You're looking at a man who is thankful... finally startin' to feel like myself..." he wrote at the time. "It's been an unexpected dark journey... but I can see the light." This past summer, in a video shared to TikTok , the "Ray" actor told a crowd of well-wishers that his issue began with a "bad headache" and was then "gone for 20 days." In that video, he was seen sharing that he did not "remember anything."
Andersen 2-9 0-0 6, Janelle Brown 5-10 3-6 13, L'Amoreaux 6-14 4-4 19, Nicoletti Leite 6-8 0-0 13, Selimovic 5-5 1-2 13, Beach 1-1 2-2 4, Raiana Brown 0-0 0-0 0, Coe 1-1 0-0 2, McGruder 1-2 0-0 2, Totals 27-50 10-14 72 Hinds 2-6 1-1 5, Jones 4-12 2-2 11, Jordan 2-6 0-0 5, Theuerkauf 6-13 1-2 15, Williams 6-9 1-1 15, Cowles 5-7 0-1 10, Andrews 1-1 0-0 3, Conley 0-1 0-0 0, Sørbye 0-2 1-2 1, Totals 26-57 6-9 65 3-Point Goals_Fairfield 8-20 (Andersen 2-6, J.Brown 0-2, L'Amoreaux 3-7, Nicoletti Leite 1-2, Selimovic 2-2, McGruder 0-1), Wake Forest 7-26 (Jones 1-5, Jordan 1-5, Theuerkauf 2-8, Williams 2-4, Andrews 1-1, Conley 0-1, Sørbye 0-2). Assists_Fairfield 13 (J.Brown 4), Wake Forest 17 (Williams 5). Fouled Out_Wake Forest Hinds, Williams. Rebounds_Fairfield 31 (J.Brown 7), Wake Forest 25 (Jones 7). Total Fouls_Fairfield 15, Wake Forest 22. Technical Fouls_None. A_788.Hezbollah fires about 250 rockets and other projectiles into Israel in heaviest barrage in weeks
Cam Carter put LSU ahead for good with a jumper 1:08 into the third overtime and the Tigers came away with a wild 109-102 win over UCF on Sunday in the third-place game of the Greenbrier Tip-Off in White Sulphur Springs, W.Va. Carter's make sparked a 5-0 spurt for LSU (5-1), which mounted a ferocious second-half rally that began after Darius Johnson drilled a 3-pointer to put the Knights up 52-34 with 12:57 to play in regulation. UCF (4-2) got back within two in the third overtime, but it never found a way to draw even. Vyctorius Miller and Jordan Sears sealed the victory, combining for three buckets down low that gave the Tigers a 106-99 cushion with 17 seconds remaining. Carter was the late-game hero for LSU, scoring the final four points of regulation to forge a 70-70 tie. He also knocked down a go-ahead 3-pointer with 3:19 left in the first extra session to give the Tigers a 76-75 advantage. Sears gave LSU a four-point edge with a triple of his own with 2:10 to go, but the Tigers failed to stay in front, and UCF's Keyshawn Hall kept the game going by sinking two free throws with six seconds remaining to make it 82-82. Neither team led by more than three in the second overtime, with Hall again coming to the Knights' rescue. He made two layups in the final 52 seconds of the frame to knot things at 93 and send the teams to a third OT. Few could have predicted 15 minutes of extra basketball after UCF put together a 25-3 first-half run that lifted it to a 38-18 advantage with 2:12 left until the break. LSU responded with seven unanswered points, but the Knights still led comfortably, 40-25, at intermission. Sears finished with a game-high-tying 25 points to go along with nine boards, while Jalen Reed recorded a 21-point, 13-rebound double-double for the Tigers. Carter netted 20 points, Miller had 16 and Dji Bailey chipped in 14. Johnson collected 25 points, six rebounds, eight assists and five steals for UCF. Hall totaled 21 points and 10 boards, and Jordan Ivy-Curry supplied 20 points. LSU outshot UCF 43.2 percent to 40.7 percent and had narrow advantages from behind the arc (12 made shots to 10) and the free-throw line (21-18). --Field Level MediaAP Business SummaryBrief at 4:26 p.m. EST
Results Summary 1 SUNNYVALE, Calif. , Dec. 4, 2024 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS ) today reported results for its fourth quarter and fiscal year 2024. Revenue for the fourth quarter of fiscal year 2024 was $1.636 billion , compared to $1.467 billion for the fourth quarter of fiscal year 2023. Revenue for fiscal year 2024 was $6.127 billion , an increase of approximately 15% from $5.318 billion in fiscal year 2023. "The fourth quarter was a strong finish to a transformational year for Synopsys. We achieved record financial results while doubling down on our strategy with the sale of our Software Integrity business and the pending acquisition of Ansys," said Sassine Ghazi , president and CEO of Synopsys. "Looking ahead, the AI-driven reinvention of compute is accelerating the pace, scale and complexity of technology R&D, which expands our opportunity to solve engineering challenges from silicon to systems." "Continued strong execution drove excellent Q4 results, which exceeded the midpoint of our guidance targets and capped a year of 15% revenue growth for the company," said Shelagh Glaser , CFO of Synopsys. "The combination of our execution focus, operating discipline, and the critical nature of our industry-leading technology positions us well for the future. In 2025, we expect to deliver double-digit revenue growth grounded in pragmatism given continued macro uncertainties and the impact of our fiscal year calendar change." Synopsys' previously announced acquisition of Ansys is expected to close in the first half of 2025, subject to the receipt of required regulatory approvals and other customary closing conditions. This week marked the expiration of the Hart-Scott-Rodino (HSR) Act waiting period, and Synopsys is working cooperatively with Federal Trade Commission (FTC) staff to conclude the investigation and the staff's review of Synopsys' proposed remedies. _______________________________________________ 1 On September 30, 2024, Synopsys completed the sale of its Software Integrity business. Synopsys' Software Integrity business has been presented as a discontinued operation in the consolidated financial statements for all periods presented herein and all financial results and targets are presented herein on a continuing operations basis unless otherwise noted. Continuing Operations On September 30, 2024 , Synopsys completed the sale of its Software Integrity business. Unless otherwise noted, Synopsys' Software Integrity business has been presented as a discontinued operation in the Synopsys' consolidated financial statements for all periods presented herein and all financial results and targets are presented herein on a continuing operations basis. GAAP Results On a U.S. generally accepted accounting principles (GAAP) basis, net income for the fourth quarter of fiscal year 2024 was $279.3 million , or $1.79 per diluted share, compared to $346.1 million , or $2.23 per diluted share, for the fourth quarter of fiscal year 2023. GAAP net income for fiscal year 2024 was $1.442 billion , or $9.25 per diluted share, compared to $1.227 billion , or $7.91 per diluted share, for fiscal year 2023. Non-GAAP Results On a non-GAAP basis, net income for the fourth quarter of fiscal year 2024 was $529.9 million , or $3.40 per diluted share, compared to non-GAAP net income of $464.1 million , or $3.00 per diluted share, for the fourth quarter of fiscal year 2023. Non-GAAP net income for fiscal year 2024 was $2.058 billion , or $13.20 per diluted share, compared to non-GAAP net income of $1.636 billion , or $10.54 per diluted share, for fiscal year 2023. For a reconciliation of net income, earnings per diluted share and other measures on a GAAP and non-GAAP basis, see "GAAP to Non-GAAP Reconciliation" in the accompanying tables below. Business Segments Synopsys reports revenue and operating income in two segments: (1) Design Automation, which includes our advanced silicon design, verification products and services, system integration products and services, digital, custom and field programmable gate array IC design software, verification software and hardware products, manufacturing software products and other and (2) Design IP, which includes our interface, foundation, security, and embedded processor IP, IP subsystems, and IP implementation services. Financial Targets Synopsys also provided its consolidated financial targets for the first quarter and full fiscal year 2025. These targets reflect a change in Synopsys' fiscal year from a 52/53-week period ending on the Saturday nearest to October 31 of each year to October 31 of each year. As a result of this change, there will be ten fewer days in the first half of fiscal year 2025 and two extra days in the second half of fiscal year 2025, which results in eight fewer days in the aggregate in Synopsys' fiscal year 2025 as compared to its fiscal year 2024. These targets also assume no further changes to export control restrictions or the current U.S. government "Entity List" restrictions. These targets constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see "Forward-Looking Statements" below. First Quarter and Full Fiscal Year 2025 Financial Targets (1) (in millions except per share amounts) Range for Three Months Ending Range for Fiscal Year Ending January 31, 2025 October 31, 2025 Low High Low High Revenue $ 1,435 $ 1,465 $ 6,745 $ 6,805 GAAP Expenses $ 1,142 $ 1,162 $ 4,926 $ 4,983 Non-GAAP Expenses $ 945 $ 955 $ 4,045 $ 4,085 Non-GAAP Interest and Other Income (Expense), net $ 20 $ 22 $ 94 $ 98 Non-GAAP Tax Rate 16 % 16 % 16 % 16 % Outstanding Shares (fully diluted) 156 158 157 159 GAAP EPS $ 1.81 $ 1.95 $ 10.42 $ 10.63 Non-GAAP EPS $ 2.77 $ 2.82 $ 14.88 $ 14.96 Operating Cash Flow ~ $1,800 Free Cash Flow (2) ~ $1,600 Capital Expenditures ~ $170 (1) Synopsys' first quarter of fiscal year 2025 will end on January 31, 2025 and its fiscal year 2025 will end on October 31, 2025. (2) Free cash flow is calculated as cash provided from operating activities less capital expenditures. For a reconciliation of Synopsys' first quarter and fiscal year 2025 targets, including expenses, earnings per diluted share and other measures on a GAAP and non-GAAP basis and a discussion of the financial targets that we are not able to reconcile without unreasonable efforts, see "GAAP to Non-GAAP Reconciliation" in the accompanying tables below. Earnings Call Open to Investors Synopsys will hold a conference call for financial analysts and investors today at 2:00 p.m. Pacific Time. A live webcast of the call will be available on Synopsys' corporate website at investor.synopsys.com . Synopsys uses its website as a tool to disclose important information about Synopsys and comply with its disclosure obligations under Regulation Fair Disclosure. A webcast replay will also be available on the corporate website from approximately 5:30 p.m. Pacific Time today through the time Synopsys announces its results for the first quarter of fiscal year 2025 in February 2025. Effectiveness of Information The targets included in this press release, the statements made during the earnings conference call, the information contained in the financial supplement and the corporate overview presentation, each of which are available on Synopsys' corporate website at www.synopsys.com (collectively, the " Earnings Materials "), represent Synopsys' expectations and beliefs as of December 4, 2024 . Although these Earnings Materials will remain available on Synopsys' website through the date of the earnings call for the first quarter of fiscal year 2025, their continued availability through such date does not mean that Synopsys is reaffirming or confirming their continued validity. Synopsys undertakes no duty and does not intend to update any forward-looking statement, whether as a result of new information or future events, or otherwise update, the targets given in this press release unless required by law. Availability of Final Financial Statements Synopsys will include final financial statements for the fiscal year 2024 in its annual report on Form 10-K to be filed on or before January 2, 2025 . About Synopsys Catalyzing the era of pervasive intelligence, Synopsys, Inc. (Nasdaq: SNPS) delivers trusted and comprehensive silicon to systems design solutions, from electronic design automation to silicon IP and system verification and validation. We partner closely with semiconductor and systems customers across a wide range of industries to maximize their R&D capability and productivity, powering innovation today that ignites the ingenuity of tomorrow. Learn more at www.synopsys.com . Reconciliation of Fourth Quarter and Fiscal Year 2024 Results The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income, earnings per diluted share, and tax rate for the periods indicated below. GAAP to Non-GAAP Reconciliation of Fourth Quarter and Fiscal Year 2024 Results (1) (unaudited and in thousands, except per share amounts) Three Months Ended Twelve Months Ended October 31, October 31, 2024 2023 2024 2023 GAAP net income from continuing operations attributed to Synopsys $ 279,281 $ 346,051 $ 1,441,710 $ 1,227,045 Adjustments: Amortization of acquired intangible assets 54,258 14,886 104,220 50,477 Stock-based compensation 165,116 128,286 656,632 511,730 Acquisition/divestiture related items 62,428 4,016 172,638 13,831 Restructuring charges — (1,348) — 53,091 Gain on sale of strategic investments — — (55,077) — Tax settlement — — — (23,752) Tax adjustments (31,158) (27,753) (262,322) (196,471) Non-GAAP net income from continuing operations attributed to Synopsys $ 529,925 $ 464,138 $ 2,057,801 $ 1,635,951 Three Months Ended Twelve Months Ended October 31, October 31, 2024 2023 2024 2023 GAAP net income from continuing operations per diluted share attributed to Synopsys $ 1.79 $ 2.23 $ 9.25 $ 7.91 Adjustments: Amortization of acquired intangible assets 0.35 0.10 0.67 0.33 Stock-based compensation 1.06 0.83 4.21 3.30 Acquisition/divestiture related items 0.40 0.03 1.11 0.09 Restructuring charges — (0.01) — 0.34 Gain on sale of strategic investments — — (0.35) — Tax settlement — — — (0.15) Tax adjustments (0.20) (0.18) (1.69) (1.28) Non-GAAP net income from continuing operations per diluted share attributed to Synopsys $ 3.40 $ 3.00 $ 13.20 $ 10.54 Shares used in computing net income per diluted share amounts: 155,991 154,845 155,944 155,195 (1) Synopsys' fourth quarter of fiscal year 2024 and 2023 ended on November 2, 2024 and October 28, 2023, respectively. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. GAAP to Non-GAAP Tax Rate Reconciliation (1)(2) (unaudited) Twelve Months Ended October 31, 2024 GAAP effective tax rate 6.6 % Stock-based compensation 2.9 % Income tax adjustments (3) 5.5 % Non-GAAP effective tax rate 15.0 % (1) Synopsys' fiscal year 2024 ended on November 2, 2024. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. (2) Presented on a continuing operations basis. (3) The adjustments are primarily related to the differences in the tax rate effect of certain deductions, such as the deduction for foreign-derived intangible income and credits. GAAP to Non-GAAP Reconciliation of 2025 Targets The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP targets for the periods indicated below. GAAP to Non-GAAP Reconciliation of First Quarter Fiscal Year 2025 Targets (in thousands, except per share amounts) Range for Three Months Ending January 31, 2025 Low High Target GAAP expenses $ 1,142,000 $ 1,162,000 Adjustments: Amortization of acquired intangible assets (12,000) (15,000) Stock-based compensation (185,000) (192,000) Target non-GAAP expenses $ 945,000 $ 955,000 Range for Three Months Ending January 31, 2025 Low High Target GAAP earnings per diluted share attributed to Synopsys $ 1.81 $ 1.95 Adjustments: Amortization of acquired intangible assets 0.10 0.08 Stock-based compensation 1.22 1.18 Acquisition/divestiture related items (1) 0.08 0.06 Tax adjustments (0.44) (0.45) Target non-GAAP earnings per diluted share attributed to Synopsys $ 2.77 $ 2.82 Shares used in non-GAAP calculation (midpoint of target range) 157,000 157,000 GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2025 Targets (in thousands, except per share amounts) Range for Fiscal Year Ending October 31, 2025 Low High Target GAAP expenses $ 4,926,000 $ 4,983,000 Adjustments: Amortization of acquired intangible assets (46,000) (51,000) Stock-based compensation (835,000) (847,000) Target non-GAAP expenses $ 4,045,000 $ 4,085,000 Range for Fiscal Year Ending October 31, 2025 Low High Target GAAP earnings per diluted share attributed to Synopsys $ 10.42 $ 10.63 Adjustments: Amortization of acquired intangible assets 0.32 0.29 Stock-based compensation 5.36 5.28 Acquisition/divestiture related items (1) 0.29 0.26 Tax adjustments (1.51) (1.50) Target non-GAAP earnings per diluted share attributed to Synopsys $ 14.88 $ 14.96 Shares used in non-GAAP calculation (midpoint of target range) 158,000 158,000 (1) Adjustments reflect certain contractually obligated financing fees and related amortization expenses, and do not fully reflect all potential adjustments for future periods for the reasons set forth in "GAAP to Non-GAAP Reconciliation" below. Forward-Looking Statements This press release and the investor conference call contain forward-looking statements, including, but not limited to, statements regarding short-term and long-term financial targets, expectations and objectives including, among others, our long-term financial objectives, which include the anticipated effects of our pending acquisition of ANSYS, Inc. (the Ansys Merger); business and market outlook, opportunities, strategies and technological trends, such as artificial intelligence; planned acquisitions and their expected impact, including the Ansys Merger; the potential impact of the uncertain macroeconomic and geopolitical environment on our financial results; the expected impact of U.S. and foreign government trade restrictions and regulatory changes, including export control restrictions and tariffs on our financial results; customer license renewals and the expected realization and timing of our contracted but unsatisfied or partially unsatisfied performance obligations (backlog); planned dispositions and their expected impact; customer demand and market expansion for our products and our customers' products; our ability to successfully compete in the markets we serve; our planned product releases and capabilities; industry growth rates; software trends; planned stock repurchases; our expected tax rate; and the impact and result of pending legal, regulatory, administrative and tax proceedings. These statements involve risks, uncertainties and other factors that could cause our actual results, time frames or achievements to differ materially from those expressed or implied in such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: macroeconomic conditions and geopolitical uncertainty in the global economy; uncertainty in the growth of the semiconductor and electronics industries; the highly competitive industry we operate in; actions by the U.S. or foreign governments, such as the imposition of additional export restrictions or tariffs; consolidation among our customers and our dependence on a relatively small number of large customers; risks and compliance obligations relating to the global nature of our operations; failure to complete the Ansys Merger on the terms described in our filings with the SEC, if at all; failure to obtain required governmental approvals related to the Ansys Merger or the imposition of conditions to such governmental approvals that may have an adverse effect on us; failure to realize the benefits expected from the Ansys Merger; and more. Additional information on potential risks, uncertainties and other factors that could affect Synopsys' results is included in filings we make with the SEC from time to time, including in the sections entitled "Risk Factors" in our latest Annual Report on Form 10-K and in our latest Quarterly Report on Form 10-Q. The financial information contained in this press release should be read in conjunction with the consolidated financial statements and notes thereto included in Synopsys' most recent reports on Forms 10-K and 10-Q, each as may be amended from time to time. Synopsys' financial results for its fourth quarter and fiscal year 2024 are not necessarily indicative of Synopsys' operating results for any future periods. The information provided herein is as of December 4, 2024 . Synopsys undertakes no duty to, and does not intend to, update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law. SYNOPSYS, INC. Unaudited Consolidated Statements of Income (1) (in thousands, except per share amounts) Three Months Ended Twelve Months Ended October 31, October 31, 2024 2023 2024 2023 Revenue: Time-based products $ 834,375 $ 780,725 $ 3,224,299 $ 3,016,256 Upfront products 520,939 441,494 1,802,222 1,400,125 Total products revenue 1,355,314 1,222,219 5,026,521 4,416,381 Maintenance and service 280,672 245,164 1,100,915 901,633 Total revenue 1,635,986 1,467,383 6,127,436 5,318,014 Cost of revenue: Products 216,485 197,540 770,238 697,686 Maintenance and service 91,707 76,043 367,055 287,876 Amortization of acquired intangible assets 66,831 12,598 107,996 45,281 Total cost of revenue 375,023 286,181 1,245,289 1,030,843 Gross margin 1,260,963 1,181,202 4,882,147 4,287,171 Operating expenses: Research and development 554,818 465,815 2,082,360 1,849,935 Sales and marketing 219,225 186,953 859,342 724,934 General and administrative 172,032 102,271 568,496 376,677 Amortization of acquired intangible assets 4,086 3,346 16,238 9,295 Restructuring charges — (1,348) — 53,091 Total operating expenses 950,161 757,037 3,526,436 3,013,932 Operating income 310,802 424,165 1,355,711 1,273,239 Interest and other income (expense), net 12,077 (20,400) 158,147 32,231 Income before income taxes 322,879 403,765 1,513,858 1,305,470 Provision (benefit) for income taxes 62,084 60,409 99,718 90,188 Net income from continuing operations 260,795 343,356 1,414,140 1,215,282 Income from discontinued operations, net of income taxes 834,825 3,139 821,670 2,843 Net income 1,095,620 346,495 2,235,810 1,218,125 Less: Net income (loss) attributed to non-controlling interest and redeemable non-controlling interest (18,486) (2,695) (27,570) (11,763) Net income attributed to Synopsys $ 1,114,106 $ 349,190 $ 2,263,380 $ 1,229,888 Net income attributed to Synopsys Continuing operations $ 279,281 $ 346,051 $ 1,441,710 $ 1,227,045 Discontinued operations 834,825 3,139 821,670 2,843 Net income $ 1,114,106 $ 349,190 $ 2,263,380 $ 1,229,888 Net income per share attributed to Synopsys - basic: Continuing operations $ 1.81 $ 2.28 $ 9.41 $ 8.06 Discontinued operations 5.43 0.02 5.37 0.02 Basic net income per share $ 7.24 $ 2.30 $ 14.78 $ 8.08 Net income per share attributed to Synopsys - diluted: Continuing operations $ 1.79 $ 2.23 $ 9.25 $ 7.91 Discontinued operations 5.35 0.03 5.26 0.01 Diluted net income per share $ 7.14 $ 2.26 $ 14.51 $ 7.92 Shares used in computing per share amounts: Basic 153,916 151,972 153,138 152,146 Diluted 155,991 154,845 155,944 155,195 (1) Synopsys' fourth quarter of fiscal year 2024 and 2023 ended on November 2, 2024 and October 28, 2023, respectively. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. SYNOPSYS, INC. Unaudited Consolidated Balance Sheets (1) (in thousands, except par value amounts) October 31, 2024 October 31, 2023 ASSETS: Current assets: Cash and cash equivalents $ 3,896,532 $ 1,433,966 Short-term investments 153,869 151,639 Total cash, cash equivalents and short-term investments 4,050,401 1,585,605 Accounts receivable, net 934,470 856,660 Inventories 361,849 325,590 Prepaid and other current assets 1,122,946 548,115 Current assets of discontinued operations — 114,654 Total current assets 6,469,666 3,430,624 Property and equipment, net 563,006 549,837 Operating lease right-of-use assets, net 565,917 559,923 Goodwill 3,448,850 3,346,065 Intangible assets, net 195,164 239,577 Deferred income taxes 1,247,258 853,526 Other long-term assets 583,700 444,820 Long-term assets of discontinued operations — 908,759 Total assets $ 13,073,561 $ 10,333,131 LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND STOCKHOLDERS' EQUITY: Current liabilities: Accounts payable and accrued liabilities $ 1,163,592 $ 1,059,914 Operating lease liabilities 94,791 79,832 Deferred revenue 1,391,737 1,559,461 Current liabilities of discontinued operations — 286,244 Total current liabilities 2,650,120 2,985,451 Long-term operating lease liabilities 574,065 579,686 Long-term deferred revenue 340,831 150,827 Long-term debt 15,601 18,078 Other long-term liabilities 469,738 381,531 Long-term liabilities of discontinued operations — 33,257 Total liabilities 4,050,355 4,148,830 Redeemable non-controlling interest 30,000 31,043 Stockholders' equity: Preferred stock, $0.01 par value: 2,000 shares authorized; none outstanding — — Common stock, $0.01 par value: 400,000 shares authorized; 154,112 and 152,053 shares outstanding, respectively 1,541 1,521 Capital in excess of par value 1,211,206 1,276,152 Retained earnings 8,984,105 6,741,699 Treasury stock, at cost: 3,148 and 5,207 shares, respectively (1,025,770) (1,675,650) Accumulated other comprehensive income (loss) (180,380) (196,414) Total Synopsys stockholders' equity 8,990,702 6,147,308 Non-controlling interest 2,504 5,950 Total stockholders' equity 8,993,206 6,153,258 Total liabilities, redeemable non-controlling interest and stockholders' equity $ 13,073,561 $ 10,333,131 (1) Synopsys' fiscal year 2024 and 2023 ended on November 2, 2024 and October 28, 2023, respectively. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. SYNOPSYS, INC. Unaudited Consolidated Statements of Cash Flows (1) (in thousands) Twelve Months Ended 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 2,235,810 $ 1,218,125 Adjustments to reconcile net income to net cash provided by operating activities: Amortization and depreciation 295,065 247,120 Reduction of operating lease right-of-use assets 97,273 97,705 Amortization of capitalized costs to obtain revenue contracts 73,587 82,190 Stock-based compensation 692,316 563,292 Allowance for credit losses 19,724 19,932 Gain on sale of strategic investments (55,077) — Gain on divestitures, net of transaction costs (868,830) — Amortization of bridge financing costs 33,677 — Deferred income taxes (407,649) (211,045) Other (1,295) 13,295 Net changes in operating assets and liabilities, net of effects from acquisitions and dispositions: Accounts receivable (103,460) (178,432) Inventories (51,449) (123,752) Prepaid and other current assets (410,432) (106,396) Other long-term assets (168,255) (100,618) Accounts payable and accrued liabilities 187,564 170,496 Operating lease liabilities (96,966) (73,281) Income taxes (73,215) 198,078 Deferred revenue 8,641 (113,435) Net cash provided by operating activities 1,407,029 1,703,274 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from maturities and sales of short-term investments 138,961 130,435 Purchases of short-term investments (136,821) (131,079) Proceeds from sales of strategic investments 55,696 8,492 Purchases of strategic investments (1,293) (435) Purchases of property and equipment, net (123,161) (189,618) Acquisitions, net of cash acquired (156,947) (297,692) Proceeds from business divestiture, net of cash divested 1,446,578 — Capitalization of software development costs — (2,204) Net cash provided by (used in) investing activities 1,223,013 (482,101) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of debt (2,607) (2,603) Payment of bridge financing and term loan costs (72,265) — Issuances of common stock 232,212 252,986 Payments for taxes related to net share settlement of equity awards (337,541) (241,408) Purchase of equity forward contract — (45,000) Purchases of treasury stock — (1,160,724) Other (1,096) (122) Net cash used in financing activities (181,297) (1,196,871) Effect of exchange rate changes on cash, cash equivalents and restricted cash 8,797 (2,979) Net change in cash, cash equivalents and restricted cash 2,457,542 21,323 Cash, cash equivalents and restricted cash, beginning of year, including cash from discontinued operations 1,441,187 1,419,864 Cash, cash equivalents and restricted cash, end of period, including cash from discontinued operations 3,898,729 1,441,187 Less: Cash, cash equivalents and restricted cash from discontinued operations — 4,947 Cash, cash equivalents and restricted cash from continuing operations $ 3,898,729 $ 1,436,240 (1) Synopsys' fiscal year 2024 and 2023 ended on November 2, 2024 and October 28, 2023, respectively. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. Synopsys provides segment information, namely revenue, adjusted segment operating income and adjusted segment operating margin, in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 280, Segment Reporting. Synopsys' chief operating decision maker (" CODM ") is our Chief Executive Officer. In evaluating our business segments, the CODM considers the income and expenses that the CODM believes are directly related to those segments. The CODM does not allocate certain operating expenses managed at a consolidated level to our business segments and, as a result, the reported operating income and operating margin do not include these unallocated expenses as shown in the table below. These unallocated expenses are presented in the table below to provide a reconciliation of the total adjusted operating income from segments to our consolidated operating income from continuing operations: SYNOPSYS, INC. Business Segment Reporting (1)(2)(5) (in millions) Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Twelve Months Ended October 31, 2024 Twelve Months Ended October 31, 2023 Revenue by segment - Design Automation $ 1,118.2 $ 953.7 $ 4,221.1 $ 3,775.3 % of Total 68.3 % 65.0 % 68.9 % 71.0 % - Design IP $ 517.8 $ 513.7 $ 1,906.3 $ 1,542.7 % of Total 31.7 % 35.0 % 31.1 % 29.0 % Adjusted operating income by segment - Design Automation $ 413.3 $ 311.1 $ 1,631.9 $ 1,413.9 - Design IP $ 189.9 $ 236.4 $ 730.2 $ 514.1 Adjusted operating margin by segment - Design Automation 37.0 % 32.6 % 38.7 % 37.5 % - Design IP 36.7 % 46.0 % 38.3 % 33.3 % Total Adjusted Segment Operating Income Reconciliation (1)(2)(5) (in millions) Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Twelve Months Ended October 31, 2024 Twelve Months Ended October 31, 2023 GAAP total operating income – as reported $ 310.8 $ 424.2 $ 1,355.7 $ 1,273.2 Other expenses managed at consolidated level -Amortization of acquired intangible assets (3) 70.9 15.9 124.2 54.6 -Stock-based compensation (3) 165.4 128.6 657.9 513.1 -Non-qualified deferred compensation plan 9.2 (23.9) 85.4 20.2 -Acquisition/divestiture related items (4) 47.0 4.0 138.7 13.8 -Restructuring charges — (1.3) — 53.1 Total adjusted segment operating income $ 603.2 $ 547.5 $ 2,362.1 $ 1,928.0 (1) Synopsys manages the business on a long-term, annual basis, and considers quarterly fluctuations of revenue and profitability as normal elements of our business. Amounts may not foot due to rounding. (2) Synopsys' fourth quarter of fiscal year 2024 and 2023 ended on November 2, 2024 and October 28, 2023, respectively. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. (3) The adjustment includes non-GAAP expenses attributable to non-controlling interest and redeemable non-controlling interest. (4) The adjustment excludes the amortization of bridge financing costs entered into in connection with the pending acquisition of Ansys, that was recorded in interest and other income (expense), net, in our unaudited condensed consolidated statements of income. (5) Presented on a continuing operations basis. GAAP to Non-GAAP Reconciliation Synopsys continues to provide all information required in accordance with GAAP but acknowledges evaluating its ongoing operating results may not be as useful if an investor is limited to reviewing only GAAP financial measures. Accordingly, Synopsys presents non-GAAP financial measures in reporting its financial results to provide investors with an additional tool to evaluate Synopsys' operating results in a manner that focuses on what Synopsys believes to be its core business operations and what Synopsys uses to evaluate its business operations and for internal budgeting and resource allocation purposes. This press release includes non-GAAP earnings per diluted share, non-GAAP net income and non-GAAP tax rate for the periods presented. It also includes future estimates for non-GAAP expenses, non-GAAP interest and other income (expense), non-GAAP tax rate, non-GAAP earnings per diluted share and free cash flow. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. When possible, Synopsys provides a reconciliation of non-GAAP financial measures to their most closely applicable GAAP financial measures. Synopsys is unable to provide a full reconciliation of certain first quarter and full fiscal year 2025 non-GAAP financial targets to the corresponding GAAP financial measures on a forward-looking basis because Synopsys believes that it would not be possible for it to have the required information necessary to quantitatively reconcile such measures with sufficient precision without unreasonable efforts due to, among other things, the potential variability and limited predictability of the excluded adjustment items necessary for a full reconciliation such as certain acquisition/divestiture related items, restructuring charges, tax deduction variability, changes in the fair value of non-qualified deferred compensation plan, and gains (losses) on the sale of strategic investments. For the same reasons, Synopsys is unable to address the probable significance of the unavailable information. Synopsys' management does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures in isolation from, as superior to, or as a substitute for, financial information prepared in accordance with GAAP. These non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, the corresponding GAAP financial measures. Synopsys' management believes presentation of non-GAAP financial measures, when shown in conjunction with the corresponding GAAP financial measures, provides useful information to investors allowing them to view financial and business trends relating to our financial condition and results of operations through the eyes of management. Synopsys' management evaluates and makes decisions about our business operations using both GAAP financial measures and non-GAAP financial measures to help facilitate internal comparisons to Synopsys' historical operating results and forecasted targets, planning and forecasting in subsequent periods and comparisons to competitors' operating results. The following are descriptions of the adjustments made to reconcile non-GAAP financial measures (other than free cash flow, which is defined in the footnote to the Financial Targets table above) to the most directly comparable GAAP financial measures: (i) Amortization of acquired intangible assets. We incur expenses from amortization of acquired intangible assets, which may include impairment charges from write-downs of acquired intangible assets. Acquired intangible assets include, among other things, core/developed technology, customer relationships, contract rights, trademarks and trade names, and other intangibles related to acquisitions. We amortize the intangible assets over their estimated useful lives. We do not enter into acquisitions on a predictable cycle. The amount of an acquisition's purchase price allocated to intangible assets and their estimated useful lives can vary significantly and are unique to each acquisition. From time to time, we incur impairment charges due to write-downs of acquired intangible assets. We believe that the presentation of non-GAAP financial measures that adjust for the amortization of intangible assets, including impairment charges, provides investors and others with a consistent basis for comparison across accounting periods. We also exclude this item because such expenses are non-cash in nature and we believe the non-GAAP financial measures excluding this item provide meaningful supplemental information regarding our core operational performance and liquidity, and ability to invest in research and development and fund future acquisitions and capital expenditures. (ii) Stock-based compensation . Stock-based compensation expenses consist primarily of expenses related to restricted stock units, stock options, employee stock purchase rights and other stock awards, including such expenses associated with acquisitions. We exclude stock-based compensation expense from our non-GAAP financial measures primarily because it is not an expense that typically requires or will require cash settlement by us. Further, the expense for the fair value of the stock-based instruments we utilize may bear little resemblance to the actual value realized upon the vesting or future exercise of the related stock-based awards and, therefore, is not used by management to assess the core profitability of our business operations. (iii) Acquisition/divestiture related items. In connection with certain of our business combinations and/or divestitures, we incur significant expenses that we would not have otherwise incurred as part of our business operations. These expenses include, among other things, compensation expenses, professional fees and other direct expenses, concurrent restructuring activities and divestiture activities, including employee severance and other exit costs, bridge financing costs, costs related to integration activities, changes to the fair value of contingent consideration related to the acquired company, and amortization of the fair value difference of below-market value assets arising from arrangements entered into or acquired in conjunction with an acquisition. We also recognize the gains and losses from the mark-up of equity or cost method investments to fair value upon obtaining control through acquisition. We exclude these items because they are related to acquisitions and have no direct correlation to the core operation of our business. Further, because we do not acquire businesses on a predictable cycle and the terms of each transaction can vary significantly and are unique to each transaction, we believe it is useful to exclude such expenses when looking for a consistent basis for comparison across accounting periods. (iv) Restructuring charges. We initiate restructuring activities to align our costs to our operating plans and business strategies based on then-current economic conditions, and such activities have a specific and defined term. Restructuring costs generally include severance and other termination benefits related to voluntary retirement programs, involuntary headcount reductions and facilities closures. Such restructuring costs include elimination of operational redundancy, permanent reductions in workforce and facilities closures and, therefore, are not considered by us to be a part of the core operation of our business and are not used by management when assessing the core profitability and performance of our business operations. (v) Gains (losses) on the sale of strategic investments. We exclude gains and losses on the sale of equity investments in privately held companies because we do not believe they are reflective of our core business and operating results. (vi) Deferred compensation . We exclude changes in the fair value of our non-qualified deferred compensation plan because we do not use these to assess the core profitability of our business operations. (vii) Income tax effect of non-GAAP pre-tax adjustments . Excluding the income tax effect of non-GAAP pre-tax adjustments from the provision for income taxes assists investors in understanding the tax provision associated with those adjustments and the effect on net income. We utilize an annual non-GAAP tax rate in calculating non-GAAP financial measures to provide better consistency across interim reporting periods by eliminating the effects of certain non-recurring and other period-specific items, which can vary in size and frequency and do not necessarily reflect our normal operations, and to more closely align our tax rate with our expected geographic earnings mix. This annual non-GAAP tax rate is based on an evaluation of our historical and projected mix of U.S. and international profit before tax, taking into account the impact of non-GAAP adjustments, U.S. tax law changes, as well as other factors such as our current tax structure, existing tax positions and expected recurring tax incentives. Based on these considerations, we have elected to adopt a non-GAAP tax rate of 16% for fiscal year 2025. INVESTOR CONTACT : Trey Campbell Synopsys, Inc. 650-584-4289 Synopsys-ir@synopsys.com EDITORIAL CONTACT : Cara Walker Synopsys, Inc. 650-584-5000 corp-pr@synopsys.com View original content to download multimedia: https://www.prnewswire.com/news-releases/synopsys-posts-financial-results-for-fourth-quarter-and-fiscal-year-2024-302322901.html SOURCE Synopsys, Inc.None
CNBC Daily Open: Small- and mid-caps stole the limelight last week
The Billionaires In Trump’s Next Administration: Elon Musk, Jared Isaacman, Warren Stephens And MoreBOSTON , Dec. 4, 2024 /PRNewswire/ -- HawkPartners, a marketing consulting and strategic insights firm, has been recognized as one of the 2024 Fortune Best Workplaces in Consulting & Professional ServicesTM. This highly competitive award underscores the company's commitment to cultivating a work environment in which team members can thrive and partner with clients to do their best work. The Fortune Best Workplaces in Consulting & Professional Services list, compiled in partnership with Great Place to Work ® , is based on analysis of survey responses from more than 157,000 employees in the consulting and professional services industry. "Our strong, values-driven culture shapes how we serve our clients and fosters trust within our team," said Kathy Butler , Managing Partner at HawkPartners. "We are grateful for our dedicated Partners' ongoing commitment to excellence, and willingness to uplift and champion one another daily." In addition to this most recent recognition, HawkPartners was also named to Fortune's Best Small WorkplacesTM list, and certified as a Great Place to Work ® for the third consecutive year. In the 2024 Great Place To Work ® survey , 99 percent of employees at HawkPartners said the organization is a great place to work, compared to 57 percent at the average U.S.-based company. About HawkPartners HawkPartners is a marketing consulting and strategic insights firm. We partner with leading global brands to solve complex marketing challenges by connecting the dots between data, insights, and strategy. Our advisory services include Brand Strategy & Positioning, Strategic Communications, Customer Experience, and Insights. We work globally in over 40 countries and across many industries, including healthcare, financial services, technology, CPG, and hospitality. Contact: Stephanie Schlesinger Email: [email protected] SOURCE HawkPartners
A prominent psychologist has sounded the alarm on the perils of teens falling in love with virtual girlfriends or boyfriends powered by artificial intelligence. And he has warned parents that kids who turn to chatbots for companionship could struggle to develop social skills needed for real relationships. Once the domain of science fiction, AI avatars that communicate with their creators are becoming increasingly popular. Know the news with the 7NEWS app: Download today A rapidly-growing number of apps give users the power to design their ideal romantic partner — choosing their looks, interests and personality — which they can chat with at any time of the day or night. High-profile adolescent psychologist Michael Carr-Gregg raised serious concerns about the possible risks to young people in a video provided to schools across Australia. “The rise in popularity of AI girlfriends, boyfriends and digital companions signifies a significant shift in human interaction with artificial intelligence — blurring the lines between digital and personal connection,” he said in a special report on the SchoolTV platform. “Young people who engage excessively with AI companions might struggle to develop the social skills needed for real human relationships — potentially leading to unhealthy emotional attachments and dependencies that can lead to psychological damage.” SchoolTV, backed by children’s mental health experts, provides parenting resources to schools that subscribe to its service. It also responds to trends reported by schools. Dr Carr-Gregg noted virtual girlfriend and boyfriend apps were easy to download and age restrictions could be bypassed. He warned that excessive exposure to AI companion bots could have a significant impact on a young person’s developing identity. Talking to a virtual companion risked normalising sexualised chat, which could lead to a young person being groomed by a real predator. Because users could personalise their avatar to look, dress and act to fit their desires, that could potentially lead to a deeper attachment than if the avatar was generic. And the power to be able to tell a companion bot what to do could lead to coercive control issues in a real life relationship. “Adolescents seeking belonging and exploring their sexuality may turn to virtual partners for affirmation, attention and validation, addressing feelings of loneliness or disconnection,” Dr Carr-Gregg said. Tragically, talking to an AI bot was the last thing US 14-year-old Sewell Setzer did moments before taking his own life. Last month, his mother Megan Garcia filed a federal lawsuit against role-playing chatbot app Character.AI, claiming it was responsible for the death of her son. The Florida high school student, who had been obsessed with companion apps, took his own life in February. Court documents show Sewell had, for months, repeatedly texted a chatbot named Daenerys Targaryen, after a character in the series Game of Thrones. The teen had pledged his love for “Dany” and discussed suicidal thoughts. His parents were so worried by his addiction they had confiscated his phone, but he soon found it. According to the police report, Sewell’s last act before his death was to log on to Character.AI on his phone to tell “Dany” he loved her and promised to come home to her. The bot replied: “I love you too . . . please come home to me as soon as possible, my love.” Ms Garcia accused the platform of using addictive design features to increase engagement and steer vulnerable users towards intimate conversations. “A dangerous AI chatbot app marketed to children abused and preyed on my son, manipulating him into taking his own life,” Ms Garcia said in a statement last month. “Our family has been devastated by this tragedy, but I’m speaking out to warn families of the dangers of deceptive, addictive AI technology and demand accountability from Character.AI, its founders and Google.” Character.AI issued a statement on X saying it was “heartbroken” by the tragic loss of one of its users. “As a company, we take the safety of our users very seriously and we are continuing to add new safety features,” it read. The company, which promises “personalised AI for every moment of your day”, is one of the biggest AI chatbot providers, with its website becoming one of the world’s most visited sites since it was founded in 2021. One of the earliest companies to promote companion bots, Replika, reports it now has around 30 million users. Billing itself as “the AI companion who cares”, Replika was banned temporarily in Italy last year because of concerns around data privacy and risks to minors. Other popular chatbot apps that mimic human interaction with increasingly life-like avatars include Eva AI, iGirl, AI Girlfriend and AI Boyfriend. AI Boyfriend sells itself as “a boyfriend you can trust”, while iGirl boasts that it “lets you experience the thrill of having a virtual girlfriend that feels just like the real one”. Dr Carr-Gregg told The West the SchoolTV report on navigating AI relationships was not sparked by any single event, but addressed a growing trend and concern regarding teens’ interactions with companion bots. “While the tragic case of Sewell Setzer has certainly brought increased attention to this issue, it’s part of a broader pattern that educators and mental health professionals have been observing,” he said. “The report aims to provide guidance on the potential risks and benefits of AI relationships, especially for young people who may be particularly vulnerable.” While he had not directly encountered teens using companion apps in his psychology practice, Dr Carr-Gregg said research and anecdotal evidence suggested their usage was becoming more widespread among adolescents. “Many teens are drawn to the always-available nature of AI companions and the perception of a non-judgmental, understanding presence,” he said. “Given the rapidly evolving nature of AI technology, it’s crucial to continue monitoring its impact on youth mental health and social development.” He urged parents to encourage teens to maintain real-world social connections, share their feelings about AI relationships without fear of judgment and discuss the limitations of artificial interactions. The warning comes as the Albanese Government prepares to introduce new laws to stop kids under 16 from using social media, but it is unclear if that would extend to chatbot apps. Acting eSafety Commissioner Kathryn King said AI companion apps had recently proliferated online. Some were free, accessible and targeted towards children. “These apps and services are particularly concerning for young people navigating relationships for the first time, as engagement with an AI companion may lead to confusion about consent, respect and/or sexual safety,” she said. “As with other digital platforms, there is a danger that excessive, sexualised engagement with AI companions could interfere with children’s social and emotional development, setting up misguided or harmful beliefs and patterns that are damaging to individuals or relationships in real life.” Ms King said it was important parents were aware such services existed and that they talked to their children about their online activities. She stressed there was work underway to protect kids from harms linked to generative AI by building in measures to stop them accessing age-inappropriate materials. “While providers of chatbots are encouraged to participate in this co-regulatory process, they should also be taking action now to keep users safe,” she said. “Primary digital safeguards should be embedded at the design phase and throughout the development and deployment process — not bolted on as an afterthought.” Lifeline: 13 11 14 Kids Helpline: 1800 55 1800
Jamiat Ulema-e-Islam Chief Maulana Fazlur Rahman on Wednesday emphasized that politics of bloodshed cannot continue in the country LARKANA, (UrduPoint / Pakistan Point News - 27th Nov, 2024) Jamiat Ulema-e-Islam Chief Maulana Fazlur Rahman on Wednesday emphasized that of bloodshed cannot continue in the country. In a press conference held at Khalid Mehmood Soomro Madarsa in , Maulana Fazlur Rahman expressed his views on the incident, suggesting that a can be held in the tribal area. He stressed that politicians have a duty to their workers and voters. However, he condemned the damage to property and the killing of personnel and said that such actions are unacceptable. He also denounced the recent incident in by the workers.Cellectis announces the drawdown of the third tranche of €5 million under the credit facility agreement entered with the European Investment Bank (EIB)
No. 14 Ole Miss seeks consolation win over Miss. State in Egg Bowl
CHECK OUT: Education is Your Right! Don’t Let Social Norms Hold You Back. Learn Online with LEGIT. Enroll Now! A final round of talks on a treaty to end plastic pollution opens on Monday, with the diplomat chairing the difficult negotiations warning nations not to miss a "once-in-a-generation opportunity". Plastic pollution is so ubiquitous that it has been found in clouds, the deepest ocean trenches and even in human breastmilk. And while almost everyone agrees it is a problem, there is less consensus on how to solve it. Nations have just a week in South Korea's Busan to solve thorny issues including whether to cap plastic production, a possible ban on chemicals feared toxic to human health, and how to pay for the treaty. "There are some real differences on some key elements," UN Environment Programme chief Inger Andersen acknowledged Sunday in a meeting with observers at the talks. "I believe that we absolutely can land this, but that it will take everybody shuffling a little bit into the bus," she said. Read also Petrol industry embraces plastics while navigating energy shift PAY ATTENTION: Legit.ng Needs Your Help! Take our Survey Now and See Improvements at LEGIT.NG Tomorrow In 2019, the world produced around 460 million tonnes of plastic, a figure that has doubled since 2000, according to the Organisation for Economic Co-operation and Development. Plastic production is expected to triple by 2060. More than 90 percent of plastic is not recycled, with over 20 million tonnes leaking into the environment, often after just a few minutes of use. Plastic also accounts for around three percent of global emissions, mostly linked to its production from fossil fuels. 'Once-in-a-generation' Some countries, including the so-called High Ambition Coalition (HAC) that groups many African, Asian and European nations, want to discuss the entire "lifecycle" of plastics. That means limiting production, redesigning products for reuse and recycling, and addressing waste. On the other side are countries, largely oil producers like Saudi Arabia and Russia, who want a downstream focus on waste alone. The HAC wants binding global targets on reducing production and warned ahead of the Busan talks that "vested interests" should not be allowed to hamper a deal. Read also Climate finance's 'new era' shows new political realities The divisions have stymied four previous rounds of talks, producing an unwieldy document of over 70 pages. Luis Vayas Valdivieso, the diplomat chairing the talks, has produced an alternative document intended to synthesise the views of delegations and move negotiations forward. It is a more manageable 17 pages, and highlights areas of agreement, including the need to promote reusability. However, it leaves the thorniest issues largely unaddressed, angering some more ambitious nations and environmental groups. Valdivieso nonetheless insisted on Sunday that "a shared understanding has been emerging," while reminding nations they have just 63 working hours in a "crucial week" to land a deal. "This treaty is a once-in-a-generation opportunity," he said. 'Treaty people are demanding' Some observers believe the talks are likely to falter and be extended -- especially after the difficult negotiations at UN climate and biodiversity conferences in recent weeks. But both Andersen and Valdivieso insist a deal must be reached in Busan. That has some environmental groups worried that an agreement will be watered down to ensure something is signed. Read also Cheers, angst as US nuclear plant Three Mile Island to reopen Key to any accord will be the United States and China, neither of which have openly sided with either bloc. Earlier this year, Washington raised hopes among environmentalists by signalling support for some limits on production, a position that is reportedly now being rowed back. The election of Donald Trump has also raised questions about how ambitious the US delegation will be, and whether negotiators should even bother seeking their support if a treaty is unlikely to be ratified by Washington. Some plastic producers are pushing governments to focus on waste management and reusability, warning production caps would cause "unintended consequences". But others back a deal with global standards, including on "sustainable" production levels. Hours before the talks opened, environmental groups presented officials with a petition signed by nearly three million people urging a legally binding treaty. "Governments can and must create the treaty people are demanding," said Eirik Lindebjerg, WWF global plastics policy lead. Read also 'Moment of truth' for world-first plastic pollution treaty "One which decisively and definitely protects people and nature now and for generations to come." PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy! Source: AFPFrankly Speaking: Will President Trump be able to end the wars in Gaza and Ukraine?
Lagos State Governor, Babajide Sanwo-Olu has disclosed that construction works on the proposed third Lagos rail mass transit line, also known as Green Line, will start next year. The Governor, speaking on Thursday at the State House of Assembly chambers, where he presented the proposed 2025 budget before the state’s legislative arm, explained that the state has signed a Memorandum of Understanding (MoU) with the Ministry of Finance Incorporated (MOFI), to construct the 68-kilometre rail line project designed to connect Marina to the Lekki Free Trade Zone. With the Budget presentation, Governor Babajide Sanwo-Olu laid bare what would be the priorities of the Lagos State Government in the coming year as he presented the State’s 2025 budget disclosing also that some projects, including some 36 newly constructed and repaired road projects, bridges, link bridges and pedestrian infrastructure have been scheduled for commissioning from the beginning of December. As revealed in the proposed Budget, a total of N3.005 trillion budget estimates, earmarking a huge capital investment of N908.1l7 billion to the Economic Affairs sector—a cluster of key MDAs, comprising Tourism and Creative Arts, Agriculture, Transportation, Works and Infrastructure, Industry and Investments, Wealth Creation and Employment, Energy and Mineral Resources, Waterfront Infrastructure, and Commerce. The 2025 Appropriation Bill, christened “Budget of Sustainability,” represents a 32.5 per cent increase over the current year budget, totalling N2.3 trillion. The increment, Sanwo-Olu said, reflected the growing citizens’ demands for sustainable interventions in programmes and projects that would further raise productivity and energise economic growth in the State. The Governor said the proposed budget was structured to ensure stability, stewardship and social equity around five key pillars, including infrastructure sustainability, economic diversification, social inclusion and human capital development, environmental sustainability, governance and institutional reforms. The Governor noted that sustaining investment in infrastructure in key areas of priority would enable the State to build up momentum for more growth, stressing that his administration’s infrastructural drive would further get a boost in the coming fiscal year. He said: “This 2025 budget is not just a fiscal document but a blueprint for continuity, resilience and shared prosperity for every Lagosian. As a key economic hub, Lagos stands at a crossroads: a nexus of challenges that test our resolve and opportunities that call for bold action. “In crafting this budget, we have listened to our citizens’ voices, studied the global and local economic realities, and reaffirmed our commitment to ensuring that Lagos continues to thrive sustainably for generations to come.
Democrats 'Ignored the Needs of My Community': Florida State Rep Susan Valdes Joins Republican PartyBreaking News: Italy is Celebrating Ruffo Caselli's Robotics in Art 12-10-2024 09:34 PM CET | Leisure, Entertainment, Miscellaneous Press release from: Getnews / PR Agency: Headlineplus Before the advent of AI, there was Cybernetic Existentialism. Image: https://www.getnews.info/uploads/67ec679e5aaa4c7c7c86efddc25617ea.jpeg The Center for the Multidisciplinary Study of Cybernetic Existentialism of New York City announces an upcoming art installation featuring the works of Italian artist Ruffo Caselli. This highly anticipated event will celebrate half a century of Caselli's influential contributions to the art world. Revered as the father of Cybernetic Existentialism, he envisioned a world of robotics and brought it to life on canvas with the incorporation of microchips. Ruffo Caselli, (born 1932 and died in 2020), was a pioneering artist known for merging traditional artistic techniques with cutting-edge technology. He was renowned for his wit and innovation in incorporating microchips into his creations. Based in Milano, Ruffo Caselli actively exhibited his work in prominent galleries, with his most recent exhibition being held at the Azimut headquarters in Via Foro Bonaparte in Milan, running for five months. While the exact details for the upcoming exhibition are yet to be finalized, it is expected to be open to the public in the near future in Genoa. A telepathic observer, supported by a renowned gallery in Manhattan since the early 1980s, displayed his masterpieces from New York across the globe, including South America, South Korea, and Russia. His work from the 1970s and 1980s garnered significant acclaim from art collector and curator Elena Garas, who extensively researched the artist's work for several years and shared her findings through lectures and elegant presentations. Image: https://www.getnews.info/uploads/ac30b6c9bbdae86c16415dff257d7b2c.jpeg Elena Garas introduced Ruffo Caselli work to prestigious galleries and museums, including the Chelyabinsk Historical Museum and the Uray City Museum, with lectures and conferences conducted by Zaitsev Dmitry Stanislavovich, curator of the Ruffo Caselli exhibition in Uray, Khanty-Mansi Autonomous Okrug-Yugra, PhD in Cultural Studies, and Strelets Oksana Yurievna, Director of the Museum. For more information, please visit http://www.cyberneticexistentialism.com Please visit the YouTube channel to learn more https://m.youtube.com/@ruffocasellipaintings6978 About Ruffo Caselli Italian artist Ruffo Caselli paints canvasses representing elegant robots dotted with little squares, sensors and microchips. He is one of the world's leading interpreters of the changes that have taken place in our lifetime. About The Center for the Multidisciplinary Study of Cybernetic Existentialism The Center for the Multidisciplinary Study of Cybernetic Existentialism is a presentation platform for TECHNOLOGY IN ART. Carmen Gallo founded the Center in Manhattan in early eighties as a platform to present Art, Philosophy, Technologies and Trends of the Day in Technology. Media Contact Company Name: The Center for the Multidisciplinary Study of Cybernetic Existentialism Contact Person: Media Relations Email: Send Email [ http://www.universalpressrelease.com/?pr=breaking-news-italy-is-celebrating-ruffo-casellis-robotics-in-art ] Phone: 212-7807526 Country: United States Website: http://www.cyberneticexistentialism.com This release was published on openPR.