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The ongoing fight between some faculty at the Indian Institute of Technology (IIT), Kharagpur and the administration at the premier engineering school, mainly the director Virendra Kumar Tewari, may end up before the courts, with the faculty threatening to approach the Calcutta High Court. Some of the professors have also threatened to launch a hunger strike. “We have already sent a letter to the chairman of the board of governors for his intervention. Sit-in demonstration has started since Wednesday. If our demands our not met we would go for a hunger strike. We are also planning to move court early next week,” said one of the professors who received a show-cause notice, asking not to be identified. While the immediate provocation for both the hunger-strike and the plan to move the high court, is a show-cause notice issued by the institution’s registrar last week to 86 faculty members, the controversy has been brewing since September. That was when the Indian Institute of Technology Teachers’ Association (IITTA) sent a letter to the Union human resource development minister accusing the institute’s director of nepotism, arbitrary recruitment of faculty, failure to start a multi super-speciality hospital, unlawful recovery of excess payment from faculties and vitiating the harmony between the IIT campus and the neighbouring community. Tewari, the director of the institute took charge in December 2019 for a period of five years. His tenure ends in January 2025. “The letter sent to the Union minister on September 20 stated that several letters sent to the director, board of governors and the chairman over the issues in the past went unanswered. The ministry was requested to appoint a new director of high academic repute and experienced in practising inclusive governance,” said a second professor and a member of the IITTA, who too didn’t wish to be named. In response, the IIT administration issued show-cause notices to the office bearers of the IITTA, including the body’s president, general secretary, vice president and treasurer on November 12. A separate show-cause notice was issued to Amal Kumar Das, a professor and general secretary of IITTA. “The institute is deeply concerned by the contents of your letter and accordingly you are required to provide a detailed written explanation with evidence,” the letter stated, giving the respondents a week’s time to provide satisfactory explanation. On November 28, 86 faculty members, under the umbrella of IITTA petitioned the institute, threatening to go on a hunger strike if the show cause notices to the four IITTA office-bearers were not rolled recalled. But the institute doubled down and issued show cause notices to these 86 too. “We, the faculty members of IIT Kharagpur demand that the two show cause notices, against the office bearers and Das, be withdrawn immediately and disciplinary proceedings are also stopped,” the petition said. In response, on November 29, the administration issued show-cause notices to all the 86 faculty members. The show-cause letter cited the Conduct Rules of the Institute, statute 15 (17) Schedule B, point 16 (b) which states: “No employee shall be signatory to any joint representation addressed to the authorities for redress of any grievances or of any further matter.” The director also replaced three heads of departments – Artificial Intelligence, Mathematics and Bioscience and Biotechnology, earlier this week. They had all signed the petition. HT got in touch with the IIT Kharagpur director’s office and sent an email seeking his response on the developments. There was no response till the time of going to print. On Wednesday, at least 100 professors staged a sit-in before the institution’s administrative building, holding placards and wearing black badges.Synopsys Posts Financial Results for Fourth Quarter and Fiscal Year 2024
NoneCommerce Department Signs Terms for Nearly $100 Million in Chipmaker FundingSAN FRANCISCO, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Serve Robotics Inc. (Nasdaq: SERV), a leading embodied AI and automation company, today announced the appointment of Lily Sarafan to its Board of Directors (the "Board"). Sarafan is an accomplished leader with nearly 20 years of experience in entrepreneurship, executive leadership and board governance. She is co-founder and former chief executive of TheKey, one of the largest and most trusted in-home care provider networks, where she serves as executive chair. Sarafan currently serves on the boards of Instacart, Thumbtack and Kyo as well as on the board of trustees of Stanford University. She has been recognized as an EY Entrepreneur of the Year, a Fortune 40 Under 40, Women Health Care Executives' Woman of the Year, and a Henry Crown Fellow of the Aspen Institute. Sarafan holds an M.S. in Management Science and Engineering and a B.S. in Science, Technology, and Society from Stanford University. “We look forward to welcoming Lily as an independent member of the Board. Her extensive leadership experience, particularly in home services and on-demand delivery, will be invaluable as Serve continues to expand our market presence and shape the future of delivery and automation,” said Ali Kashani, Chairman of Serve’s Board . About Serve Robotics Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets. For further information about Serve Robotics (Nasdaq:SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter) , Instagram , or LinkedIn @serverobotics. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Serve intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act. These forward-looking statements can be about future events, including statements regarding Serve's intentions, objectives, plans, expectations, assumptions and beliefs about future events, including Serve's expectations with respect to the financial and operating performance of its business, its capital position, and future growth. The words "anticipate", "believe", "expect", "project", "predict", "will", "forecast", "estimate", "likely", "intend", "outlook", "should", "could", "may", "target", "plan" and other similar expressions can generally be used to identify forward-looking statements. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Any forward-looking statements in this press release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include those risks and uncertainties set forth in Serve's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission (the "SEC") and in its subsequent filings filed with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Serve undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Contacts Media Aduke Thelwell, Head of Communications & Investor Relations Serve Robotics press@serverobotics.com Investor Relations investor.relations@serverobotics.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bdd098f8-8c80-462f-bc1b-c1f2095ed307
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Mid-American Conference football goes all in on November weeknights for the TV viewersNot sure what to say at a holiday gathering? Here are 5 tips for ditching social awkwardnessNEW YORK, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Insight Acquisition Corp. INAQ announced today that its stockholders have approved an extension of the time period by which the Company has to consummate an initial business combination (the "Business Combination Period") from December 7, 2024, to March 7, 2025 (the "Extended Termination Date"). The extension was made through the adoption of the Fourth Extension Amendment to the Company's amended and restated certificate of incorporation (the "Charter"), which was filed today with the Delaware Secretary of State. Adoption of the Fourth Extension Amendment required approval by the affirmative vote of at least 65% of the Company's outstanding shares of common stock. The proposal was approved by the Company's stockholders holding 4,950,037 shares, representing approximately 75.93% of the Company's outstanding shares of common stock. About Insight Acquisition Corp. Insight Acquisition Corp. INAQ is a special purpose acquisition company formed solely to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Insight Acquisition Corp. is sponsored by Insight Acquisition Sponsor LLC. For additional information, please visit insightacqcorp.com. About Alpha Modus Alpha Modus is engaged in creating, developing and licensing data-driven technologies to enhance consumers' in-store digital experience at the point of decision. The company was founded in 2014 and is headquartered in Cornelius, North Carolina. Alpha Modus is party to a business combination agreement with Insight Acquisition Corp. ( INAQ ) whereby Alpha Modus plans to become a publicly trading company (the "Business Combination"). For additional information, please visit alphamodus.com . Contacts: Insight Acquisition Corp. Chelsea Saffran csaffran@Insightacqcorp.com Alpha Modus Shannon Devine MZ Group +1(203) 741-8841 shannon.devine@mzgroup.us © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
NoneThe New York-based company said it had profit of $2.34 per share. Earnings, adjusted for non-recurring costs, came to $3.03 per share. The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.61 per share. The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.26 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.22 billion. PVH expects full-year earnings in the range of $11.55 to $11.70 per share. This story was generated by Automated Insights ( http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on PVH at https://www.zacks.com/ap/PVH
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NEW YORK — U.S. stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 climbed 0.2%, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 0.3%, while the Nasdaq composite climbed 0.8% to set its own record. Treasury yields eased after the jobs report showed stronger hiring than expected but also an uptick in the unemployment rate. WASHINGTON — America’s job market rebounded in November, adding 227,000 workers in a solid recovery from the previous month, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. Last month’s hiring growth was up considerably from a meager gain of 36,000 jobs in October. The government also revised up its estimate of job growth in September and October by a combined 56,000. Friday’s report also showed that the unemployment rate ticked up from 4.1% in October to a still-low 4.2%. The November data provided the latest evidence that the U.S. job market remains durable even though it has lost significant momentum from the 2021-2023 hiring boom, when the economy was rebounding from the pandemic recession. A federal appeals court panel on Friday unanimously upheld a law that could lead to a ban on TikTok in a few short months, handing a resounding defeat to the popular social media platform as it fights for its survival in the U.S. The U.S. Court of Appeals for the District of Columbia Circuit ruled that the law – which requires TikTok to break ties with its China-based parent company ByteDance or be banned by mid-January – is constitutional, rebuffing TikTok’s challenge that the statute ran afoul of the First Amendment and unfairly targeted the platform. TikTok and ByteDance — another plaintiff in the lawsuit — are expected to appeal to the Supreme Court. The U.S. government has ordered testing of the nation’s milk supply for bird flu to better monitor the spread of the virus in dairy cows. The Agriculture Department on Friday said raw or unpasteurized milk from dairy farms and processors nationwide must be tested on request starting Dec. 16. Testing will begin in six states — California, Colorado, Michigan, Mississippi, Oregon and Pennsylvania. The move is aimed at eliminating the virus, which has infected more than 700 dairy herds in 15 states. LANSING, Mich. — Democrats in Michigan are pressing to pass reproductive health care legislation before the party loses its majority with the new legislative session next year. A bill to protect digital reproductive health data including data logged on menstrual cycle tracking apps is a Democratic priority as lawmakers meet this month. Democratic women and supporters of the legislation say they are acting with new urgency before President-elect Donald Trump takes office because they don’t believe his campaign promise to leave abortion to the states. The rush is also a reaction to Republicans taking control of the state House in January. Democrats kept control of the state Senate in the November election. KASHIMA, Japan — The signs at Nippon Steel read: “The world through steel,” underlining why Japan’s top steelmaker is pursuing its $15 billion bid to acquire U.S. Steel. Japan’s domestic market isn’t growing, so Nippon Steel has its eyes on India, Southeast Asia and the United States, where populations are still growing. Nippon Steel gave reporters a tour of one of its plants in Japan on Friday. The bid for U.S. Steet is opposed by President-elect Donald Trump, President Joe Biden and American steelworkers. If the deal goes through, U.S. Steel will keep its name and its headquarters in Pittsburgh, Pennsylvania, but become subsidiary of Nippon Steel. BANGKOK — China has banned exports of key materials used for a wide range of products, including smartphones, electric vehicles, radar systems and CT scanners, swiping back at Washington after it expanded export controls to include dozens of Chinese companies that make equipment used to produce computer chips. Both sides say the controls are justified by national security concerns. Analysts say they could have a much wider impact on manufacturing in many industries and supply chains, depending on the ability of each side to compensate for loss of access to strategically important materials, equipment and components. Here’s why this could be a tipping point in trade conflict between the two biggest economies.
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