WICHITA, Kan. (AP) — Xavier Bell had 29 points in Wichita State's 87-72 victory over Friends University on Sunday. Bell shot 11 of 16 from the field and 5 of 5 from the free-throw line for the Shockers (10-3). Quincy Ballard added 17 points, 16 rebounds and three blocks. Corey Washington totaled 16 points, seven rebounds and three steals. Collin Maclin finished with 18 points for the Falcons. Cahlese Lee added 11 points and two steals. Randy Woolf Jr. recorded 10 points, five assists and two steals. Wichita State took the lead with 8:30 left in the first half and never looked back. Bell led his team in scoring with 21 points in the first half to help put them up 45-36 at the break. Wichita State pulled away with a 12-1 run in the second half to extend a nine-point lead to 20. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Premiers disagree on cutting energy to U.S. in response to Trump's tariff threatNEW YORK , Dec. 12, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The truck market in vietnam size is estimated to grow by USD 1.50 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 8.05% during the forecast period. The report provides a comprehensive forecast of key segments below- Segmentation Overview Get a glance at the market contribution of rest of the segments - Download a FREE Sample Report in minutes! 1.1 Fastest growing segment: Light-duty trucks, which include compact trucks, pickup trucks, and passenger and cargo vans, are essential commercial vehicles in Vietnam , particularly for intra-city and inter-city transport. These trucks, with a gross vehicle weight under 10 tons, are widely used due to their maneuverability in space-strapped urban areas. In Vietnam , the rising traffic congestion and entry restrictions for heavier vehicles have led to increased adoption of light-duty trucks. The home delivery sector's growth is another significant factor driving demand. Dealers serve as the primary distribution channel for these trucks, and vans are the most popular choice for goods distribution from central hubs. Economic uncertainty and competition pressure compel fleet owners to minimize operational costs, further fueling demand for light-duty trucks. Consequently, the less than 10-ton segment is expected to grow in the Vietnamese truck market during the forecast period. Analyst Review Trucks are essential vehicles in Vietnam's thriving economy, serving various sectors such as logistics, construction, and agriculture. The market for trucks in Vietnam is vast, with a focus on pickup trucks, warehouses, and retail outlets catering to consumers' needs. The demand for trucks is driven by the country's extensive road network and the transportation of goods, including cargo and fuel. Manufacturers prioritize fuel efficiency, safety, and electrification in their designs, addressing the increasing concerns of consumers and governments. Powerful engines and suspension systems are also essential features for handling the rough terrain and heavy loads common in Vietnam . The logistics and e-commerce sectors are significant consumers of trucks, requiring efficient and reliable vehicles for the timely delivery of goods. Trailer tracking and cargo management systems are essential for optimizing supply chain operations and reducing vehicle emissions. Safety is a top priority, with vehicle safety regulations becoming increasingly stringent to protect drivers and other road users. The future of the truck market in Vietnam lies in the adoption of advanced technologies and the development of sustainable transportation solutions. Market Overview The Trucks Market in Vietnam is witnessing significant growth due to the increasing demand for transportation of goods, particularly in sectors like construction, mining, agriculture, and logistics. The market caters to various types of trucks, including heavy duty, medium duty, and light duty, with tonnage capacities ranging from a few tons to several tons. Consumers, fleet owners, logistics companies, and e-commerce sectors are the primary buyers of trucks in Vietnam . The market is also witnessing a shift towards electric vehicles (EVs) and hydrogen-based solutions as part of the global move towards carbon neutrality and sustainability. Truck manufacturers are focusing on fuel efficiency, safety, electrification, and telematics to meet the evolving needs of consumers and businesses. These solutions include GPS tracking, connectivity solutions, trailer tracking, and maintenance cost optimization. The logistics industry is undergoing a digital transformation, with the adoption of AI and IoT for fleet management, route optimization, and real-time cargo tracking. Emission norms and vehicle safety regulations are also driving the market, with manufacturers investing in advanced suspension systems, energy storage, and battery design. The market is expected to grow further with the expansion of infrastructure projects, such as highways, bridges, ports, and cold chain logistics, and the increasing popularity of e-commerce and hyperlocal delivery services. The use of EVs, hydrogen-based vehicles, and alternative fuels is also gaining momentum, with companies like Mullen Automotive and OEMs investing in the development of electric heavy-duty trucks. To understand more about this market- Download a FREE Sample Report in minutes! 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Venodr Landscape 11 Vendor Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/vietnam-truck-market-to-grow-by-usd-1-5-billion-from-2023-2028--report-on-ais-impact-on-market-trends---technavio-302328820.html SOURCE Technavio
Tweet Facebook Mail Woolworths has lodged an application with Fair Work to stop striking workers from blocking access to distribution centres as stock runs low across the country. The grocery giant is seeking orders from the workplace regulator to prevent the United Workers Union (UWU) stopping employees from entering the Melbourne south regional distribution centre and three other sites in Victoria and NSW. The application alleges UWU members are in breach of the good faith bargaining requirements of the Fair Work Act. READ MORE: What the weather on Christmas Day is forecast to be in your city Woolworths shelves are bare and stores are running low on stock as strikes forced the closure of five distribution centres. (Nine) "The application comes after the UWU refused to give any assurance of safe passage for team members seeking to return to work at our Melbourne south regional distribution centre yesterday and this morning," Woolworths said in a statement. "A majority of the team at the site had indicated they wished to return to work to begin being paid, which will help increase supply of essential food and grocery products such as nappies, toilet paper and drinks to Woolworths' Victorian stores." READ MORE: Billionaire brings $150,000 grocery giveaway to Sydney Surprising state where households fork out most for electricity View Gallery Picketers have disrupted the supply chain and resulted in empty shelves in stores. (April Lombardo) Woolworths claims UWU created an "unsafe environment for team members who had shown up to work". "The majority of our team members at this site are not members of the UWU," the statement continued. "We will again be attempting to operate the MSRDC today, and we will follow the advice of the Victorian police to ensure the safety of our team." The application has not been listed for hearing yet. READ MORE: Three dead and dozens sick from eating sea turtle stew UWU logistics coordinator Andrew Giles. (Nine) Union members commenced industrial action at the Woolworths distribution centres to demand better pay and conditions. The strike has now entered its 13th day and as a result supermarket shelves have been left empty ahead of a busy pre-Christmas period. Workers are demanding a pay rise above inflation, seeking an immediate 25 per cent increase and a further 30 per cent over the next two years. They are also wanting the productivity "framework" scrapped, which forces them to meet 100 per cent adherence to a speed-related metric known as pick rates. The strike follows six months of unsuccessful negotiations. DOWNLOAD THE 9NEWS APP : Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play .
MicroStrategy (MSTR), once solely known for its software and business intelligence services, has captured headlines due to its bold foray into Bitcoin investment. Initially, integrating cryptocurrency into its portfolio was deemed revolutionary for a technology company. However, recent whispers hint at a potential new direction that could intertwine the worlds of gaming and Bitcoin, setting the stage for an unexpected shift in MSTR’s narrative. What’s Driving MSTR’s New Path? The adoption of blockchain technology in gaming offers a glimpse into the potentially lucrative opportunities for companies willing to innovate. Blockchain can revolutionize in-game economies, create transparent marketplaces, and enhance digital rights management. Given MicroStrategy’s significant Bitcoin holdings, there’s speculation about the company exploring these opportunities, possibly positioning itself as a pioneer in merging financial technology with the gaming world. Why the Gaming Industry? The gaming industry, valued at billions of dollars, is ripe for the innovations that blockchain and cryptocurrency can offer. Many gamers are technologically savvy, frequently early adopters of digital currencies and NFTs. By leveraging its cryptocurrency expertise, MicroStrategy could potentially develop platforms that enable seamless Bitcoin transactions within gaming ecosystems, offering gamers new layers of engagement. The Future Is Uncertain but Exciting While no official announcements have confirmed MicroStrategy’s ambitions in the gaming sector, the potential convergence of Bitcoin and gaming could be a match made in tech heaven. As industries continue to evolve, the intersection of cryptocurrency with gaming represents an exciting frontier for both enthusiasts and investors to watch. MicroStrategy’s potential pivot might not only redefine the company’s future but could also shape the gaming landscape in unprecedented ways. MicroStrategy’s Potential Game-Changing Move: Merging Bitcoin With Gaming In recent years, MicroStrategy has garnered attention mainly for its strategic investments in Bitcoin, positioning itself as a major player in the cryptocurrency sphere. However, emerging trends suggest that the company might be exploring an exciting new direction that involves integrating Bitcoin with the gaming industry. This potential pivot could redefine how both sectors operate, offering futuristic opportunities that capitalize on the growing convergence of technology and entertainment. Exploring the Possibilities: Blockchain Meets Gaming The integration of blockchain technology within gaming is not just a possibility but an emerging trend that holds significant promise. Blockchain can introduce transformative changes to the gaming industry through: – Revolutionized In-Game Economies: By utilizing blockchain, games can develop decentralized economic systems that allow players to truly own and trade virtual assets, enhancing the perceived value and engagement in the gaming world. – Transparent Marketplaces: Blockchain’s transparency can facilitate trustworthy transactions, reducing fraud and promoting fair trading practices within gaming ecosystems. – Enhanced Digital Rights Management: Distributed ledgers can secure digital rights, ensuring original content creators receive appropriate recognition and compensation. Given MicroStrategy’s strong foothold in Bitcoin, it stands in a unique position to innovate at this intersection, potentially developing platforms that enable frictionless Bitcoin transactions in gaming environments. Why Gaming and Crypto? The integration of cryptocurrency into gaming is a natural progression, considering the demographic and market dynamics. Key drivers include: – Tech-Savvy Consumer Base: Gamers are often early adopters of digital trends, including cryptocurrencies and non-fungible tokens (NFTs), making them ideal candidates for new Bitcoin-gaming integrations. – Expansive Market Value: With the gaming industry valued at billions and continuously growing, there’s a vast potential market for gaming platforms that leverage cryptocurrency for enhanced user experiences. The Road Ahead: Predictions for MicroStrategy Though MicroStrategy has not publicly committed to this new direction, the potential synergy between Bitcoin and gaming could disrupt their current business strategy. Predictions indicate that: – Market Expansion: If successful, MicroStrategy could open new revenue streams, expanding beyond traditional business intelligence services. – Influence on Gaming Norms: Their involvement could lead to the establishment of new standards in virtual economies and digital ownership. – Investor Attraction: This innovative move could attract investors interested in both cryptocurrency and gaming markets, enhancing the company’s market appeal. Conclusion: A New Era on the Horizon While MicroStrategy’s precise plans remain speculative, the potential alignment with the gaming industry offers exciting prospects. If the company pursues this path, it could not only transform its own narrative but also have a lasting impact on the gaming landscape, blending technological advancements with entertainment in unprecedented ways. As cryptocurrency and gaming worlds inch closer together, all eyes will be on pioneers like MicroStrategy to lead the charge into this thrilling new frontier. For more information on MicroStrategy, visit MicroStrategy .Strike action by Woolworths warehouse workers that has left shelves across Victoria bare has so far cost the grocery giant $50 million, with no end in sight to the stand-off over a new pay deal. More than 1500 United Workers Union members at three distribution centres in Victoria and one in NSW walked off the job indefinitely on November 21 after protracted negotiation for an new enterprise bargaining agreement ended in a stalemate. Union members argued that while the grocer’s profits continued to increase, wages had stagnated, contributing to the “growing wealth inequality” across the country. They are demanding annual pay increases of between 10 and 12.5 per cent. The 12-day action has left shelves in some stores empty in the all-important lead-up to Christmas. In an update on Tuesday, Woolworths said it has been engaging in “good faith” with the union for more than four months but said the pay demand was “materially above inflation, at a time when Woolworths is actively working to keep food and groceries affordable for customers facing ongoing cost-of-living pressures”. “The UWU is also demanding there be ‘no enforceable performance standard or rate’ which would preclude Woolworths’ ability to manage productivity,” it said. “The use of labour standards to manage productivity is common practice in supply chains globally and in Australia. “While each site is negotiating its own separate enterprise agreement, Woolworths has put forward several offers with competitive pay that is above local market rates, and well above the Storage Services Award. “The latest offers would take hourly rates at these sites to approximately 40 per cent above the award.” Woolworths said it had also been locked in pay talks with workers at the Melbourne South Regional site represented by the Shop, Distributive and Allied Employees’ Association, which had recently endorsed an offer. But it said a plan to re-open the centre and for the workers’ to return to work on Monday was blocked by picketing from the UWU, which was “refusing to give any assurance of safe passage for those team members who wish to work”. Woolworths said the disruption to restocking stores had already cost it about $50m in lost sales food sales up until Monday. Given the time needed to resupply if and when a deal is done, it warned investors the full financial impact could not yet be known. The bare shelves are reminiscent of the early day of the COVID-19 pandemic when shoppers stripped them of everyday essentials. The industrial action is limiting the availability of items such as nappies, toilet paper and drinks. No product limits are in place apart from eggs, which have been rationed for months following bird flu outbreaks in NSW and Victoria. Woolworths said it had built inventory at stores, leveraged the wider distribution network and some suppliers had delivered direct to stores. “However, due to the extended disruption, some Woolworths supermarkets in Victoria, ACT and NSW are experiencing stock flow limitations on some lines, impacting product availability of ambient, chilled and freezer lines for customers,” it said. Picketers have said they will continue their around-the-clock presence at Woolworths warehouses and will be there until a pay agreement is reached. Talks with the UWU resumed on Monday National secretary Tim Kennedy said despite “aggressive US-style industrial relations tactics” it seemed that after 12 days of negotiations Woolworths was showing signs of understanding their workers’ claims. “Today’s negotiations show Woolworths the way they should be resolving this issue, by talking with and listening to their workers,” Mr Kennedy said. “There’s no doubt we’ve made some progress today ... we think there is an agreement to be made if Woolworths steps forward to fix it.”
CHICAGO (AP) — Matt Duchene and Jamie Benn each had a goal and two assists, and the Dallas Stars beat the Chicago Blackhawks 5-1 on Sunday night. Jason Robertson, Evgenii Dadonov and Wyatt Johnston each had a goal and an assist for Dallas, which had lost three of four. Jake Oettinger made 24 saves. Chicago dropped its fourth consecutive game. It lost three of four in its season series against Dallas. Connor Bedard scored his 10th goal for the Blackhawks, and Arvid Soderblom made 26 stops. Next up for Bedard and company is the Winter Classic on Tuesday against St. Louis. Dallas grabbed control after Chicago forward Tyler Bertuzzi was ejected 8:11 into the second period. Bertuzzi was sent off for elbowing Stars forward Colin Blackwell in the face. Robertson made it 2-1 when he converted a wrist shot from the right circle at 8:23. It was Robertson's first goal since Dec. 14 and No. 8 on the season. Dadonov got a slick pass from Duchene and scored his 10th goal with 5:14 left in the second. Stars: Miro Heiskanen added two assists as the Stars used their superior depth to control much of the game. Blackhawks: Once again, not enough offensive opportunities. It has been a recurring problem for the Blackhawks for much of the season so far. Johnston's stick broke right before he scored his eighth goal 10 seconds into the third period. Duchene's pass went off Johnston and past Soderblom, giving the Stars a 3-1 lead. The Stars are 12-3-0 against the Blackhawks since the 2021-22 season. Dallas opens a three-game homestand on Tuesday night against Buffalo. Chicago plays St. Louis on Tuesday at Wrigley Field. AP NHL: https://apnews.com/hub/nhl
RALEIGH, N.C. -- North Carolina legislative Republicans moved closer Monday to enacting a measure that would erode the powers of the incoming governor and other Democratic officials, and also placing on the ballot constitutional amendments that could buttress GOP voting and tax policies. Along party lines, the GOP-dominated state Senate voted successfully to override Democratic Gov. Roy Cooper's veto of a bill that in part would weaken Gov.-elect Josh Stein, the next attorney general in Jeff Jackson and other Democrats also elected in November as lieutenant governor and schools superintendent. Those changes are within a 131-page measure initially approved two weeks ago during a lame-duck session of the General Assembly. Republicans advanced the measure as their current veto-proof majority over Cooper likely will end after this month as Democrats won additional House seats. That will give Stein, who takes office in January, a better chance to use his veto stamp to block successfully bills he opposes. Cooper vetoed the measure last week , calling the bill a “sham” that does very little financially to help with Hurricane Helene recovery, even as “disaster relief” was included in the bill's title. He also said provisions altering executive branch powers were unconstitutional. One provision starting in the spring would end the governor's authority to appoint the State Board of Elections and transfer it to the state auditor, who will now be Republican Dave Boliek. The bill now returns to the House, where last month three Republicans voted against the measure. Such a margin, if left intact, could scuttle the attempted override expected next week. Senate leader Phil Berger said after Monday’s vote he was confident that House Republicans would have the votes to complete the override. Even then, litigation is possible. The GOP-controlled legislature has tried to change the election board’s makeup for several years by passing laws that have been blocked by courts, including one last year that would move board appointment authority from the governor to the General Assembly. As with the Senate's initial debate on the bill two weeks ago, the chamber gallery was full of bill opponents who call it a Republican power grab after the electorate chose Democrats to top positions in the Nov. 5 elections. Republicans are “not listening to the voters in North Carolina,” said demonstrator Della Hann, 64, of Southport. “There are checks and balances in government and they need to be respected.” But Berger said in a news release that the provisions "actually balance our three branches of state government so that North Carolina remains on a positive trajectory, free from Democratic party and liberal activist obstruction.” Republican Lt. Gov. Mark Robinson, the Senate's presiding officer, ordered the Senate gallery cleared last month when visitors clapped once too often during a debate on the measure. On Monday, Robinson cleared the gallery again following disruptions after Cooper's veto message was read and right before the vote. “Everybody's got to go,” Robinson said before calling for a 10-minute recess. To avoid potential arrest, protesters left the Legislative Building or quieted down outside the gallery. Senate Republicans proceeded later to approve in separate bills proposed amendments to the North Carolina Constitution related to photo voter identification and a cap on income taxes. Each received 30 votes — exactly the number needed for a constitutional referendum. To be placed on ballots statewide in November 2026, these measures still would have to be voted on by the House by the end of the year and receive 72 votes. Constitutional amendments aren't subject to vetoes. One proposed referendum would, if approved by a majority of voters, amend the constitution to say all North Carolina voters must show photo identification before voting. The constitution currently only specifies that it's required for in-person voting. ID exceptions are allowed now and would remain with the amendment. The other referendum would set a rate cap on income taxes at 5%, down from the current 7%. Individual and corporate income tax rates are currently both below 5% in the state, and state laws separate from the constitution already direct that people voting by mail provide a photocopy of a qualifying identification. Senate Republicans backing the ID question said it's important to ensure that all forms of voting will be treated equally going forward as it relates to photo ID, which the GOP successfully got approved in 2018 but didn't take effect until last year. And with Republicans approving multiple income tax reductions over the years that have boosted the state economy, Cabarrus County Republican Sen . Paul Newton said, it's time again to let voters decide whether they should remain permanently lower. Democrats opposed to a lower tax cap say the state is already facing revenue challenges in light of lower tax rates that will make it harder to address major spending needs.
Enron , once among the largest energy companies in the U.S., has become a punchline since it famously collapsed amid inflated profits and corporate fraud in 2001. Now, social media posts, a slick promotional video and a revamped website suggest the infamous company is making a comeback. On Dec. 2, it posted promotional videos on TikTok , BlueSky and X about adapting to the changing world featuring inspiring imagery and diverse voices claiming "I am Enron" with the tagline, “We're back. Can we talk?” To coincide with the video and website launch, cryptocurrency bloggers speculated Enron will be involved in cryptocurrency exchange. Others speculated the rebranding is fake or parody . THE SOURCES WHAT WE FOUND On Dec. 2, a company calling itself Enron Corporation published a promotional video on social media, introduced a new website and issued a press release announcing a relaunch of the company. But the relaunched website calls itself a parody. The new company with the infamous name is owned by Connor Gaydos, the co-founder of satirical conspiracy group “Birds Aren’t Real.” A disclaimer on the website’s terms of service page reads, “THE INFORMATION ON THE WEBSITE IS FIRST AMENDMENT PROTECTED PARODY, REPRESENTS PERFORMANCE ART, AND IS FOR ENTERTAINMENT PURPOSES ONLY.” VERIFY reached out to the media contact listed on Enron’s website and in the press release about the site’s relaunch. Will Chabot , spokesperson for the current Enron brand and managing director of media strategy for Stu Loeser & Co., would not confirm or deny if the company was real or parody, but did direct VERIFY to the company’s articles of incorporation and press release about the relaunch. “I understand you had some questions about Enron's launch. While I'm not able to answer all of them (we'll have more to share soon - including a big announcement in the energy space - and will be sure to keep you in the loop),” Chabot told VERIFY. The latest iteration of Enron Corporation’s articles of incorporation were filed in Delaware on Feb. 28, 2024 by Gaydos, according to records provided to VERIFY by Chabot. Gaydos is the co-founder of Birds Aren’t Real , a satirical conspiracy group founded in 2017 that jokingly claims the U.S. government has been replacing living birds with surveillance drones. Gaydos registered the Enron trademark on May 13, 2020, through his The College Company LLC, which also has registered trademarks for Birds Aren’t Real. According to the trademark application for Enron, the trademark is used for shirts and other merchandise. The new website has merchandise for sale. Archival versions of Enron.com dating back to 1998 are available on The Wayback Machine. In January of 2024, the website domain of enron.com was available for purchase , archives of the page show. The last time that URL represented the bankrupt energy giant was in 2007 . There is no evidence to support claims the Enron brand was relaunched as a cryptocurrency firm, as some have speculated. There is a page on Enron’s new website titled “decentralization,” which is a common term to describe the kind of technology behind cryptocurrency. The website says, “Decentralized technology is advancing, and we will of course have a role to play in its future. We couldn't be more excited to show you, but until then please stay vigilant and avoid falling for scams. When we announce something, you'll know.” The VERIFY team works to separate fact from fiction so that you can understand what is true and false. Please consider subscribing to our daily newsletter , text alerts and our YouTube channel . You can also follow us on Snapchat , Instagram , Facebook and TikTok . Learn More » Follow Us Want something VERIFIED? Text: 202-410-8808An exceptional amount of passing took place throughout the 2024 NTT IndyCar Series season. From road courses to ovals of three different sizes to street circuits, 43 drivers combined to amass 5842 passes across the 17 races. Ovals accounted for the largest portion of the passes, 64 percent in total, which speaks to the thrills delivered at the Indianapolis 500, World Wide Technology Raceway, the Milwaukee Mile, and the Music City Grand Prix at Nashville Speedway. IndyCar accumulated a lot of passing data last year, including total passes and passes for position. The data in the first category for total passes, which include those made when a driver is down one or more laps, is led by A.J. Foyt Racing’s Santino Ferrucci, who had a breakout season in the No. 14 Chevy on the way to placing ninth in the Drivers’ championship, and earned the distinction of being IndyCar’s ‘Passmaster’ for 2024. More IndyCar! The RACER Mailbag, December 25 De Ferran, Lombardi inducted into Team Penske Hall of Fame PREMA sets date for first IndyCar test Ferrucci completed more passes (335) than any other driver, and having been passed 155 times, he also has the best net rating for overtakes (180). Second on the list is Colton Herta, who also had a breakout year with two victories and a surge to second in the championship — his best to date — with the No. 26 Honda. Herta’s passes (315) were countered with being passed 146 times for a net (169) that also ranked second to Ferrucci. Third in total passes went to former Ed Carpenter Racing driver Rinus VeeKay (270/188, net 82); fourth was Andretti’s Kyle Kirkwood (268/169/net 99); fifth was Team Penske’s Scott McLaughlin (256/124/net 131, which was third best), and sixth was former Arrow McLaren driver Alexander Rossi (254/137/net 117, which was fourth best). An important factor to consider in the passing totals was how drivers fared in qualifying. Ferrucci’s average starting position was 14.8, which meant he had plenty of positions to make up at most races. Herta’s average starting spot was 8.6, aided by three poles, which points to a need to overcome in-race issues more often than was desired. For McLaughlin, the best qualifier of the season with five poles and an average start of 6.4, it was a blend of extreme passing to counteract misfortunes and all of the passing performed as the season’s best driver in the laps-led category with 637. While Herta and McLaughlin, who chased home Chip Ganassi Racing’s Alex Palou to the championship, were among the leaders in total passes, the new champ was not, ranking ninth, which can be attributed to an average starting position of 8.4 and an average finish of 6.5. Palou actually trails teammate Scott Dixon and former Juncos Hollinger Racing driver Romain Grosjean in total passes (245/143/net 102), which speaks to his generally good performances in qualifying and staying up front at most races, eliminating the need to rifle through the field on a regular basis. Ferrucci (No.14) gets ready to make a move on Pietro Fitipaldi at Milwaukee. Brett Farmer/Motorsport Images And in the category of passes for position, the leader is... Ferrucci once again, which cements his Passmaster title for the year. Ferrucci (222 passes, passed 106 times, net of 116) tops all drivers in net rating and the total passes for position, and behind him, VeeKay moves forward into second (189/129/net 60) and Herta goes back one spot to third (171/92/net 79) ahead of teammate Kirkwood in fourth (162/121/net 41). Arrow McLaren’s Alexander Rossi was fifth (153/117/net 36) and Former Chip Ganassi driver Linus Lundqvist was sixth (153/139/net 14). Elsewhere, champion Alex Palou was 13th (124/76/net 46), which also speaks to spending most of the season nestled into the lead pack. McLaughlin was 17th in total passes (108/89/net 19), which was an-other testament to how much time he spent in the lead with nobody to pass. “All things considered, I think that we had a hell of a racing season,” Ferrucci told RACER. “We only had one mechanical DNF all year, and then we had only one crash all year. So I think it just goes to show my consistency, and my team’s consistency, and everything that we’ve done.” It’s an honor Ferrucci does not want to receive more than once. “It’s a cool stat to have, but it’s not something that I’m proud of, because while a lot of those passes were pretty awesome, it’s just not something I’d like to see next year. I’d like to be more upfront consistently,” he said. “It’s a bittersweet award, to say the least. I think it is a testament to my ability and skill and racecraft, but also I think that I can do better in other areas. We still did end up ninth in the championship, which is pretty damn good, considering where we brought the team from.” Never lacking in confidence, and as much as he doesn’t want to lead either category in the future, Ferrucci also takes pride in his ability to rack up passes. And at 61 percent, Ferrucci did most of his passing for position on the ovals. “I’m the last guy I’d want to see in my mirrors,” he said. “A lot of those passes that you see were forced errors. They had spotters at one point at Milwaukee going, ‘He’s behind you. There’s nothing you can do.’ I had so much fun.”
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HONOLULU (AP) — KyeRon Lindsay and Terence Harcum each scored 16 points as Murray State beat Loyola Chicago 71-68 on Wednesday for seventh place at the Diamond Head Classic. Lindsay also had five rebounds and four steals for the Racers (7-6). Harcum went 5 of 10 from the floor, including 2 for 6 from 3-point range, and 4 for 6 from the line. AJ Ferguson shot 4 of 8 from the field and 2 for 4 from the line to finish with 11 points. The Ramblers (9-4) were led by Miles Rubin, who posted 16 points and three blocks. Des Watson added 12 points and Sheldon Edwards had 10 points. Lindsay scored eight points in the first half and Murray State went into halftime trailing 36-34. Harcum led the way with 10 second-half points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
ARIES Today, focus on studies, career, and entertainment. There might be some expenditure on house, vehicle, education, medical bills, or children. Finance: Expect expenses for entertainment, health, property, or premiums. Career: Success is likely in fields such as education, politics, medical, and public services. Domestic & Love Life: Disputes or ill health involving family members, particularly your mother or children, may arise. Health: Potential issues include back pain, eye problems, throat, cough, or skin ailments. Lucky Number: 6 / 9 Lucky Colour: Pink / Red TAURUS Today, enjoy travel, communication, and entertainment with possible family involvement. Finance: Expect expenditures for property, travel, children, or communication. Career: Beneficial for those in tourism, journalism, entertainment, or politics. Domestic & Love Life: You’ll try to balance family time, possibly with a picnic or a family party. Health: Some may experience back pain, ear issues, throat problems, or cough. Lucky Number: 6 / 8 Lucky Colour: Pink / Blue GEMINI Today is ideal for communication, household activities, and travel. Finance: Expenses related to health, travel, or education are expected. Career: Doctors, politicians, and professionals in communication, publication, or hotels may see success. Domestic & Love Life: Be mindful of disputes or health issues involving family members. Health: Possible health concerns include throat problems, toothaches, or heart issues. Lucky Number: 5 Lucky Colour: Green CANCER Today, focus on family time, travel, and entertainment. Finance: Expenditures on health, travel, and communication are likely. Career: Opportunities will come for those in medicine, journalism, and literature. Domestic & Love Life: Family travel or potential health issues in the family may occur. Health: Be cautious of toothaches, colds, or throat pain. Lucky Number: 2 / 6 Lucky Colour: Silver / Pink LEO Today, your investments might mature, and travel is indicated. Finance: Expect expenses on education, travel, or vehicles. Career: Beneficial for those in finance, tourism, or communication. Domestic & Love Life: Enjoy a long drive or travel with family. Health: Be mindful of blood pressure, back pain, or throat problems. Lucky Number: 1 Lucky Colour: Orange VIRGO Today, focus on career and self-reliance. Finance: Travel and health expenses are indicated. Career: Success comes for those in tourism, communication, advertising, or consulting. Domestic & Love Life: You might struggle to balance job responsibilities and family time. Health: Some may experience bronchitis, back pain, or knee pain. Lucky Number: 5 Lucky Colour: Green LIBRA Today is ideal for career, study, and travel. Finance: Expect expenses related to travel or education. Career: Fields like banking, tourism, law, and marketing will bring success. Domestic & Love Life: A long journey or religious activity with family is possible. Health: Watch for throat pain or knee pain. Lucky Number: 5 / 6 Lucky Colour: Green / Pink SCORPIO Success is indicated, but there may be obstacles in education or travel. Finance: Expenses related to health, study, or self-growth. Career: Those in politics, education, or journalism will thrive. Domestic & Love Life: Balance between family and professional duties may cause stress. Health: Potential issues include skin problems, asthma, or knee pain. Lucky Number: 2 / 9 Lucky Colour: Silver / Red SAGITTARIUS Today, you will face challenges but find solutions. Finance: Expenses related to education, health, or travel. Career: Occultists, researchers, and those in tourism or publication will succeed. Domestic & Love Life: Family disputes or health concerns are indicated. Health: Be cautious of indigestion, heart issues, or BP problems. Lucky Number: 1 / 3 Lucky Colour: Orange / Yellow CAPRICORN Today guarantees success in business or career but challenges in personal life. Finance: Expect expenses for travel, education, or family. Career: Fields like communication, finance, or publication will see gains. Domestic & Love Life: Disputes with your spouse may arise. Health: Some may suffer from bronchitis or throat issues. Lucky Number: 6 / 8 Lucky Colour: Pink / Blue AQUARIUS You may be overwhelmed by responsibilities today. Finance: Expenses related to business, health, or children are expected. Career: Cybersecurity, finance, or politics will bring benefits. Domestic & Love Life: Disputes with children or maternal family may occur. Health: Be cautious of bronchitis, throat problems, or surgeries. Lucky Number: 6 / 8 Lucky Colour: Pink / Black PISCES Today is a day of celebration and studies. Finance: Expenses for parties, education, or entertainment are likely. Career: Fields like law, education, and journalism will bring success. Domestic & Love Life: Enjoy time with family and resolve any issues. Health: Some may experience back pain, asthma, or cough. Lucky Number: 3 / 9 Lucky Colour: Red / YellowTrump invited China's Xi to his inauguration even as he threatened massive tariffs on BeijingWarm up this winter with this tender beef stew with fluffy, savoury dumplings. British chef and TV star James Martin - who presented BBC's Saturday Kitchen from 2006 until 2016 - has shared his spin on the classic dish. Featuring beef shin, caramelised onions, and sweet carrots in beef and red wine stock, this recipe requires no fancy culinary skills or equipment, and takes less than half an hour to prep. "This dish is pure comfort in a bowl!" James said . "[It's] one to try this winter!" If you want a crowd-pleaser that's easy to rustle up and won't leave you with a kitchen full of dirty pots and pans - this is definitely one to try. So, what are you waiting for? James Martin's beef stew and dumplings recipe Ingredients (Serves four) For the Stew: 1kg Beef shin - diced 500ml Beef stock 150ml Red wine 2 tbsp Plain flour 2 tbsp Olive oil 6 Large carrots - peeled and halved 2 Garlic cloves - peeled and diced 2 Onions - peeled and diced 2 Sprigs of thyme 2 Bay leaves For the Dumplings: 200g Self-raising flour 125g Suet 150ml Cold water 1 Small bunch of parsley Salt and pepper (to season) Method Coat the beef in seasoned flour and fry in batches in a hot pan greased with olive oil. Then, place the beef into a large saucepan and add the remaining ingredients for the Stew. Bring everything to boil and then reduce to a simmer for two to three hours. Then, pour the stew into a large casserole dish and pre-heat the oven to 200C. Mix all of the ingredients together for the dumplings and roll into eight-10 equal-sized balls. Season with salt and pepper based on your preference. Then, add the dumplings to the top of the stew in the casserole dish and pop it in the oven. You'll need to cook the stew for around 45 minutes. The dumplings should have expanded about twice their size and have risen to the top of the pot. You can cut into one to make sure there is no raw batter in the centre, and leave it in the oven for a little longer if they're not cooked through. Et voila! A winter-warmed guaranteed to satiate the whole family. You can always tweak the recipe to contain a little more veg, and can subsitute dumplings for a nice stick of crusty bread if that's more your jam. And, if you're looking for a classic pudding for dessert, check out Mary Berry's 'most delicious ever' chocolate cake recipe . Do you have a story to share? Email us at yourmirror@mirror.co.uk for a chance to be featured
The Ministry of Defence recently issued a statement on the issue of medical pension for military personnel declared unfit for duty due to physical or mental disability. Minister of State for Defence Sanjay Seth addressed questions in the Lok Sabha on the updated measures taken by the government to ensure fairness and transparency in assessment of disability and grant of pension benefits. Updates in Pension Regulations In order to bring the Defence Disability Pension Rules in line with civilian standards, the government brought out Eligibility Rules for Accidental Pensionary Awards 2023 and Guide Medical Officers 2023. These regulations will seek to standardise the process of the Medical Board and ensure objective assessment. Also Read: India's GDP Growth Seen At 6.5% In FY25, FY26: EY Report Types of Pensions Offered The Ministry of Defence offers the following pensions to disabled military personnel: 1. War Injury Pension-For injuries sustained during operations. 2. Disability Pension-For disability sustained during service. 3. Invalid Pension/Gratuity - For disability other than service resulting in discharge. 4. Terminal Gratuity – for officers who cannot be granted pensionable service. Transparency Measures The Medical Board has three members, who adjudicate cases in the light of the RMSAF-2010 guidelines of the Armed Forces. Psychiatric assessments are more closely scrutinised by high-ranking officers to prevent false or biased reports. P ending Pension Cases Responding to concerns about personnel awaiting pension benefits, the Minister informed that pension is disbursed under the updated Eligibility Rules (ER) 2023, Pension Regulations for Army (PRA) 2008 and other relevant frameworks. These updates reflect the Ministry’s continued commitment to support disabled military personnel through streamlined processes and fair assessment. Also Read: Sanathan Textiles IPO Allotment Status: Know Steps To Check Shares Allotment Status On Kfin Technologies WebsiteFIRST NINE MONTHS OF 2024: HIGHLIGHTS TOTAL NET SALES WERE €243.9 MILLION, IN LINE WITH THE SAME PERIOD IN 2023 (-0.3%). BRANDED SALES WERE €221.2 MILLION, UP 0.3% FROM 2023 SAME PERIOD AND UP 3.1% FROM 2019 SAME PERIOD. BRANDED SALES WERE 93.0% OF TOTAL SALES, COMPARED TO 92.6% IN THE SAME PERIOD OF 2023 AND 78.5% IN THE SAME PERIOD OF 2019. DOS SALES WERE €57.4 MILLION, UP 6.3% FROM 2023 AND UP 20.8% FROM 2019 SAME PERIODS. 2024 GROWTH WAS DRIVEN BY A 22.3% SALES INCREASE FROM DOS IN THE U.S, WHERE WE OPENED 1 ADDITIONAL STORE IN DENVER. DURING THE FIRST 9 MONTHS OF 2024, WE CLOSED TWO NON-PERFORMING NATUZZI ITALIA STORES, ONE IN SPAIN AND ONE IN SWITZERLAND, AS PART OF OUR ONGOING EFFORT TO PROGRESSIVELY IMPROVE THE QUALITY OF OUR RETAIL. AS PART OF OUR TRANSFORMATION, DURING THE FIRST 9 MONTHS OF 2024, WE ACCELERATED OUR RESTRUCTURING WHICH AFFECTED P&L RESULTS WITH (€4.8) MILLION OF ONE-OFF SEVERANCE COSTS: - (€4.1) MILLION ACCRUED IN COST OF SALES; - (€0.7) MILLION ACCRUED IN SELLING AND ADMINISTRATIVE EXPENSES. DURING THE FIRST 9 MONTHS OF THE YEAR, 538 PERSONS EXITED OUR GROUP. THESE EXITS WERE PARTIALLY OFFSET BY HIRES IN STRATEGIC AREAS SUCH AS RETAIL, MARKETING AND MERCHANDISING. FROM 2021 TO SEPTEMBER 2024, WE HAD A NET REDUCTION OF 1110 PERSONS, EQUIVALENT TO A ~26% OF TOTAL. IN THE FIRST NINE MONTHS OF 2024, GROSS MARGIN WAS 35.8%, COMPARED TO 35.8% IN THE FIRST NINE MONTHS OF 2023 AND 29.0% IN THE FIRST NINE MONTHS OF 2019. EXCLUDING (€4.1) MILLION OF ONE-OFF SEVERANCE COSTS, GROSS MARGIN WOULD HAVE BEEN 37.4%, WHICH COMPARES TO 36.3% IN 2023 FIRST NINE MONTHS AND 30.0% IN 2019 FIRST NINE MONTHS. IN THE FIRST NINE MONTHS OF 2024, WE HAD AN OPERATING LOSS OF (€3.6) MILLION, COMPARED TO AN OPERATING LOSS OF (€2.2) MILLION IN 2023 FIRST NINE MONTHS AND AN OPERATING LOSS OF (€19.5) MILLION 2019 FIRST NINE MONTHS. EXCLUDING (€4.8) MILLION OF ONE-OFF SEVERANCE COSTS, WE WOULD HAVE REPORTED AN OPERATING PROFIT OF €1.2 MILLION, WHICH COMPARES TO AN OPERATING LOSS OF (€0.7) MILLION IN 2023 FIRST NINE MONTHS AND TO AN OPERATING LOSS OF (€16.1) MILLION IN 2019 FIRST NINE MONTHS. NET FINANCE COSTS WERE (€7.4) MILLION, COMPARED TO (€5.6) MILLION IN 2023 AND (€7.7) MILLION IN 2019 SAME PERIOD, MAINLY AS A CONSEQUENCE OF HIGHER INTEREST EXPENSES ON LEASE CONTRACTS AND THIRD-PARTY FINANCING, AS WELL AS UNFAVORABLE CURRENCY MOVEMENTS ON TRADE PAYABLES AND RECEIVABLES. DURING THE FIRST 9 MONTHS OF 2024, WE INVESTED €5.4 MILLION, PRIMARILY TO UPGRADE OUR ITALIAN FACTORIES AND FOR THE DOS LOCATED IN THE U.S. AND ITALY. WE CONTINUE THE DIVESTMENT PROGRAM OF NON-STRATEGIC ASSETS WE ANNOUNCED: - WE RECEIVED $3.8 MILLION IN OCTOBER 2024 AS A FIRST INSTALLMENT FOR THE SALE OF A BUILDING LOCATED IN HIGH POINT, NORTH CAROLINA. - WE SIGNED A PRELIMINARY AGREEMENT FOR THE SALE OF A LAND IN ROMANIA FOR AN EXPECTED PRICE BETWEEN €2.9 AND €3.1 MILLION. - AS OF SEPTEMBER 30, 2024, WE HELD €17.1 MILLION IN CASH, FROM €33.6 MILLION AS OF DECEMBER 31, 2023. IN PARTICULAR, THE DIFFERENCE IN CASH IS DETERMINED AS FOLLOWS: - NET CASH USED IN OPERATING ACTIVITIES (€5.1) MILLION. OF THIS, (€6.0) MILLION TO REDUCE WORKFORCE; - NET CASH USED IN INVESTING ACTIVITIES (€5.4) MILLION; - NET CASH USED IN FINANCING ACTIVITIES (€7.1) MILLION; - EFFECT OF MOVEMENTS EXCHANGE RATES ON CASH (€0.4) MILLION; - DIFFERENCE IN BANK-OVERDRAFT REPAYABLE ON DEMAND €1.5 MILLION. 3Q 2024: HIGHLIGHTS TOTAL NET SALES WERE €75.0 MILLION, IN LINE WITH 3Q 2023 (+0.1%). BRANDED SALES WERE €68.8 MILLION, UP 0.3% FROM 3Q 2023 AND UP 4.6% FROM 3Q 2019. BRANDED SALES WERE 93.7% OF TOTAL SALES, COMPARED TO 93.9% IN 3Q 2023 AND 78.6% IN 3Q 2019. DOS SALES WERE €16.8 MILLION, DOWN 1.4% FROM €17.1 MILLION IN 3Q 2023 AND UP 25.7% FROM €13.4 MILLION IN 3Q 2019. AS PART OF OUR TRANSFORMATION, DURING 3Q 2024, WE ACCELERATED OUR RESTRUCTURING WHICH AFFECTED P&L RESULTS WITH (€3.4) MILLION OF ONE-OFF SEVERANCE COSTS: - (€2.9) MILLION ACCRUED IN COST OF SALES; - (€0.5) MILLION ACCRUED IN SELLING AND ADMINISTRATIVE EXPENSES. IN 3Q 2024, 276 PERSONS EXITED OUR GROUP. THESE EXITS ARE MAINLY DUE TO THE CLOSING OF OUR SHANGHAI PLANT, WHOSE PRODUCTION WAS MOVED TO QUANJIAO. IN 3Q 2024, GROSS MARGIN WAS 31.8%, COMPARED TO 35.4% IN 3Q 2023 AND 28.7% IN 3Q 2019. EXCLUDING (€2.9) MILLION OF ONE-OFF SEVERANCE COSTS, GROSS MARGIN WOULD HAVE BEEN 35.7%, WHICH COMPARES TO 35.5% IN 3Q 2023 AND 30.5% IN 3Q 2019. IN 3Q 2024, WE HAD AN OPERATING LOSS OF (€3.8) MILLION, COMPARED TO A LOSS OF (€1.4) MILLION IN 3Q 2023 AND A LOSS OF (€8.7) MILLION IN 3Q 2019. EXCLUDING (€3.4) MILLION OF ONE-OFF SEVERANCE COSTS, WE WOULD HAVE REPORTED AN OPERATING LOSS OF (€0.4) MILLION, WHICH COMPARES TO AN OPERATING LOSS OF (€1.1) MILLION IN 3Q 2023 AND AN OPERATING LOSS OF (€6.8) MILLION IN 3Q 2019. NET FINANCE COSTS WERE (€3.3) MILLION, COMPARED TO NET FINANCE COSTS OF (€1.4) MILLION IN 3Q 2023 AND (€3.1) MILLION IN 3Q 2019, MAINLY AS A CONSEQUENCE OF HIGHER INTEREST EXPENSES ON LEASE CONTRACTS AND THIRD-PARTY FINANCING, AS WELL AS UNFAVORABLE CURRENCY MOVEMENTS ON TRADE PAYABLES AND RECEIVABLES. DURING 3Q 2024, WE INVESTED €1.7 MILLION, PRIMARILY TO UPGRADE OUR ITALIAN FACTORIES AND FOR THE DOS LOCATED IN THE U.S. AND ITALY. *** Natuzzi S.p.A. NTZ ("we", "Natuzzi" or the "Company" and, together with its subsidiaries, the "Group"), one of the most renowned brands in the production and distribution of design and luxury furniture, today reported its unaudited financial information for the first nine months and third quarter ended September 30, 2024. Pasquale Natuzzi, Executive Chairman of the Group, commented: " We are living in a dual-speed reality. On one hand, our performance reflects the ongoing challenges posed by the persistent economic crisis. On the other hand, we are seeing growing evidence of the strength of our long-term Brand/Retail project, which continues to gain momentum, paving the conditions to capture the full potential of our Brands. On November 12, I had the privilege of inaugurating the Natuzzi Harmony Residences, a 110,000-square-feet, 9-floor building with 50 apartments, located in a prestigious area in Dubai. For the first time, we have led the whole architectural and creative direction both for the exterior and interior design, resulting in a project which is a living tribute to our Brand DNA. This initiative is a clear testament that our Brand enjoys global recognition and that we completed our evolution into a lifestyle brand. We also continue to innovate and lead where our brand has its origins. In October, at the High Point Market, we unveiled our 'Re-imagined Gallery' concept — an innovative format designed to strengthen the coherence of the Natuzzi brand representation and improve commercial performance with our distribution partners. The 'Re-imagined Gallery' has since become our global standard for the brand's presence in multi-brand retailers. Along with our global retail format, it ensures consistent brand representation across markets and channels. Thanks to these efforts, we are increasingly presenting our collection in a unified and inspiring way across our 678 stores and 628 galleries worldwide. These results testify that Natuzzi is one of the few global design and high-end furniture brands. They also reinforce my belief that, moving forward, the positive impact of our strategic initiatives will effectively counterbalance market headwinds, positioning us for a prosperous future." Antonio Achille, CEO of the Group, commented: " Our sales during the first nine months of 2024 have been in line with the previous year, despite challenging conditions that continued to impact not only the furnishings sector but also the broader durable and consumer goods industries. This was achieved, despite a soft third quarter, which was significantly below the year's average, thereby affecting deliveries in August and September. In this regard, we need to remember the cycle of our business innovation. For instance, the merchandising and retail initiatives for Natuzzi Italia, introduced during April's Milan Design Week, reached the market only by late September. This was reflected in Natuzzi Italia's delivered sales for the first nine months, which were 0.9% lower compared to the same period in 2023. Natuzzi Italia performance improved in the last two months, effectively closing the gap with 2023 levels. Looking ahead, the focus for Natuzzi Italia will remain on the consistent rollout of the Brand/Retail/Marketing strategy, with a particular emphasis on priority markets, such as U.S., China, UK, Spain and Italy. Natuzzi Editions, distributed in Italy under the "Divani&Divani by Natuzzi" brand, has reported overall revenue slightly up compared to the previous year (+1.1%). We are actively engaging customers through targeted global initiatives, such as the "Re-imagined gallery" project, aimed at building a stronger foundation to reinforce this positive momentum. We remain confident that our brands and retail strategy are poised for significant growth and remain committed to executing the Company's long-term plan: 1) Improve the quality of our distribution to accelerate our Brand journey. Retail . The Group continues to make progresses in its transformation into a retail-branded company. Natuzzi collections are sold globally in 678 stores, of which 54 free standing DOS managed directly by the Group, 19 DOS managed by our JV in China, 3 DOS in partnership in the U.S. and 602 franchised stores. Our DOS sales increased by 6.3% compared to the first nine months of 2023, with U.S.-based DOS showing a growth of 22.3% over the same period also supported by the 4 DOS opened in 2023 (in San Diego, Manhasset, Houston, Atlanta) and the new Denver store opened in September 2024. Our North American retail network now includes 22 Natuzzi Italia stores (18 of which are directly operated and 4 operated by franchise partners) and 10 Natuzzi Editions stores, comprising 1 DOS, 3 stores operated in joint venture with a local partner and 6 franchise stores. Re-imagined Gallery. Natuzzi has redefined its wholesale shop-in-shop format resulting in an innovative concept designed to support independent retailers to properly represent the distinctiveness of our brand in their multi-brand environment, while improving their sell-out performances. We are witnessing a strong interest from both current and prospective partners. Since the global launch of this re-imagined Gallery Concept, Natuzzi has received proposals for 142 projects, including new openings and refits, which will be implemented starting from 1Q 2025. Reimagined Gallery program is also enabling us to re-enter into key European markets. In Germany, we recently si g ned a partnership with a leading furniture retailer, which resulted in the opening of 24 new Natuzzi Editions galleries. 2) Foster new market opportunities: Trade and Contract. I am particularly proud and thankful to our team for the progress made by the newly established division. 'Natuzzi Harmony Residences' in Dubai marks a transformative milestone for our business, reflecting our evolution and ambitions. It is a true testament to the power of the Natuzzi Italia brand, as it represents our first venture into designing and branding an entire residential building. This achievement reaffirms that establishing our dedicated Trade & Contract division was the right decision, enabling us to fully leverage Natuzzi's assets and expertise while setting distinct growth and profitability targets. 3) Enhance margins. Excluding €4.1 million of one-off severance costs, gross margin would have reached 37.4% in the first nine months of 2024, which compares to a gross margin of 36.3% in 2023 same period and 30.0% in 2019 same period. The gross margin was affected by the weak order flow during 3Q 2024, which negatively weighed on deliveries in August and September, resulting in a less efficient absorption of fixed costs for the period. 4) Execute our restructuring program. We remain committed to optimizing our operating model and reducing costs across factories and offices in Italy and abroad. In the first nine months of 2024, 538 employees (of which 276 in the third quarter) exited the Group, partially offset by strategic hires in retail, advertising, and merchandising. These reductions mainly involved factory workers in Romania, China, and Italy, as well as employees at the Group level. Since the beginning of 2021, we have achieved a net reduction of 1,110 positions—a 26% decrease. This reduction is part of our strategy of transitioning Natuzzi from a volume-driven to a value-driven organization. This shift requires a leaner workforce, new competencies, and an evolved approach to human resources and organization. We remain committed to implementing this plan ethically and in full compliance with the laws. As restructuring progresses, our streamlined model positions us to unlock greater value when sales return to historical levels. 5) Production simplification and efficiency improvement . We continue to conduct a comprehensive review of the Group's industrial operations to simplify processes, reduce working capital and drive further efficiencies. Our efforts to optimize the footprint of our Asian operations are progressing as planned. In 3Q 2024 we completed the closing of our historical factory in Shanghai, shifting the production to the new plant located in Quanjiao, Anhui Province, China. This new plant, which will serve exclusively the Chinese market, offers industrial and transformation costs which are approximately 30% lower compared to the Shanghai plant. 6) Divest non-strategic resources The Company continues to make progress in its strategy of divesting non-strategic assets. The sale of the building in High Point, NC, is proceeding as planned, with $3.8 million received in October. Additionally, in November, we signed a preliminary agreement for the sale of a land adjacent to our factory in Romania. The final price is expected to range between €2.9 million and €3.1 million. The transaction is anticipated to close by mid-2025, pending customary approvals and processes with the local municipality. The Company plans to use the net proceeds from the sale of non-strategic assets to fund restructuring initiatives and expand its DOS network, with a particular focus on the U.S. market. The challenging market continues to delay the full realization of benefits from our retail expansion and restructuring efforts. We remain dedicated to enhancing our brand-retail value proposition while steadily reducing the Group's fixed cost base." *** 2024 FIRST NINE MONTHS CONSOLIDATED REVENUE Consolidated revenue for the first nine months of 2024 amounted to €243.9 million, compared to €244.5 million in 2023 same period. 2024 performance was impacted by ongoing macroeconomic, geopolitical, and industry-specific challenges, which continued to dampen consumer spending capacity and delay purchases of durable goods. Excluding "other sales" of €6.1 million, 2024 invoiced sales from upholstered and other home furnishings products amounted to €237.8 million, compared to €238.1 million in 2023 same period. Revenues from upholstered and other home furnishings products are hereafter described according to the main dimensions of the Group's business: A: Branded/Unbranded Business B: Key Markets C: Distribution A. Branded/Unbranded business The Group operates in the branded business (with Natuzzi Italia , Natuzzi Editions and Divani&Divani by Natuzzi ) and unbranded business, the latter with collections dedicated to large-scale distribution. A1. Branded business . Within the branded business, Natuzzi is pursuing a dual-brand strategy: i) Natuzzi Italia , our luxury furniture brand, offers products entirely designed and manufactured in Italy and targets an affluent and more sophisticated global consumer with a highly inspirational collection that is largely the same across all our global stores to best represent our Brand. Natuzzi Italia products are almost exclusively sold in mono-brand stores (directly operated or franchises). ii) Natuzzi Editions , our contemporary collection, offers products entirely designed in Italy and produced in different plants strategically located to best serve individual markets (mainly China, Romania and Brazil). Natuzzi Editions products are distributed in Italy under the brand " Divani&Divani by Natuzzi", which is manufactured in Italy to shorten the lead time to serve the Italian market where the brand is distributed. The store merchandising of Natuzzi Editions, starting from a common collection, is tailored to best fit the opportunities of each market. The Natuzzi Editions products are sold primarily through galleries and selected mono-brand franchise stores. In 2024, Natuzzi's branded invoiced sales amounted to €221.2 million, compared to €220.6 million in 2023 same period. The following is the contribution of each Brand in terms of invoiced sales for the first nine months of 2024: ─ Natuzzi Italia invoiced sales amounted to €91.9 million, compared to €92.7 million in 2023 same period. ─ Natuzzi Editions invoiced sales (including invoiced sales from " Divani&Divani by Natuzzi" ) amounted to €129.3 million, compared to €127.9 million in 2023 same period. Specifically, Natuzzi Editions invoiced sales were €102.6 million, compared to €103.0 million in 2023 same period. Invoiced sales for Divani&Divani by Natuzzi were €26.7 million, compared to €24.9 million in 2023 same period. A2. Unbranded business . Invoiced sales from our unbranded business amounted to €16.6 million, compared to €17.5 million in 2023 same period. The Company's strategy is to focus on selected large accounts and serve them with a more efficient go-to-market model. B. Key Markets Below is a breakdown of upholstery and home-furnishings invoiced sales for the first nine months of 2024, compared to 2023 same period, according to the following geographic areas. 2024 2023 Delta € Delta % North America 76.9 69.5 7.4 10.6% Greater China 18.8 19.5 (0.7) (3.4%) West & South Europe 75.9 80.2 (4.3) (5.3%) Emerging Markets 31.8 34.2 (2.4) (7.2%) Rest of the World* 34.4 34.7 (0.3) (0.9%) Total 237.8 238.1 (0.3) (0.1%) Figures in €/million, except percentage. *Include South and Central America, Rest of APAC. In North America, the sales increase is primarily driven by the branded segment of the business, with significant contributions from our DOS and franchise stores in the U.S. In Greater China, the furniture industry and real estate markets continue to encounter significant challenges. Enhanced coordination efforts within our joint venture are instrumental in reducing the inventory of Natuzzi Italia products. The JV is realigning the organization's scale and capabilities to better reflect the current business trends. To date, the JV has already reduced SG&A expenses by almost 20% compared to the previous year, also as a result of a reduced number of employees. The JV plans to continue with this project to get a more agile structure, to a level coherent with the current business rate. The performance in West & South Europe reflects a generalized difficult macroeconomic condition, especially for some European mature markets, as well as the loss of disposable income by consumers as a result of prior different quarters of high interest rates and inflation. The emerging markets, and in particular East Europe and the Middle East, are still curbed by the worsening of international relations and the associated conflicts. C. Distribution During the first nine months of 2024, the Group distributed its branded collections in 103 countries, according to the following table. Direct Retail FOS Total retail stores (Sept. 30, 2024) North America 22 (1) 10 32 West & South Europe 31 100 131 Greater China 19 (2) 325 344 Emerging Markets ─ 78 78 Rest of the World 4 89 93 Total 76 602 678 (1) Included 3 DOS in the U.S. managed in joint venture with a local partner. As the Natuzzi Group does not exert full control in each of these DOS, we consolidate only the sell-in from such DOS. (2) All directly operated by our joint venture in China. As the Natuzzi Group owns a 49% stake in the joint venture and does not control it, we consolidate only the sell-in from such DOS. FOS = Franchise stores managed by independent partners. The Group also sells its branded products by means of 628 Natuzzi galleries (including 12 Natuzzi Concessions, i.e., store-in-store points of sale directly managed by the Mexican subsidiary of the Group). During the first nine months of 2024, the Group's invoiced sales from direct retail , including DOS and Concessions operated by the Group, were €57.4 million, compared to €54.0 million in 2023 same period. This growth was primarily driven by a 22.3% increase in sales from our US-based DOS. In 2024 we also closed two non-performing stores in Zurich, Switzerland, and Madrid, Spain. During the first nine months of 2024, invoiced sales from franchise stores (FOS) amounted to €97.8 million, compared to €98.7 million in 2023 same period. We continue executing our strategy to evolve into a Brand/Retailer and improve the quality of our distribution network. The weight of the invoiced sales generated by the retail network (Direct retail and Franchise Operated Stores) on total upholstered and home furnishings business in the first nine months of 2024 was 65.3% compared to 64.1% in 2023 same period and compared to 44.1% in 2019 same period. The Group also sells its products through the wholesale channel , consisting primarily of Natuzzi-branded galleries in multi-brand stores, as well as mass distributors selling mainly unbranded products. During the first nine months of 2024, invoiced sales from the wholesale channel amounted to €82.6 million, compared to €85.5 million in 2023 same period. We are placing renewed emphasis on the wholesale segment of our business, which remains a strategic channel in several geographies, including the U.S. and Europe. To support this, we are introducing a re-imagined gallery concept, which provides a practical setting for sales associates to engage with clients, narrate the captivating Natuzzi story, showcase our collections, and support sales. GROSS MARGIN Gross margin for the first nine months of 2024 was 35.8%, which compares to 35.8% in 2023 and 29.0% in 2019 same periods. Net of the (€4.1) million of one-off severance costs included in cost of sales, gross margin for the first nine months of 2024 would have been 37.4%. This would compare to 36.3% in 2023 same period and 30.0% in 2019 same period. 2024 Gross margin was partially affected by the weak business trend during 3Q 2024, that impacted deliveries in August and September, below the average for 2024. This resulted in a less efficient absorption of fixed costs, which, together with a different brand mix, inventory exits and costs related to moving production from Shanghai to Quanjiao, weighed on the improving trajectory of gross margin. 2024 consumption was (36.5%) on revenues, improving from (37.4%) in 2023 same period. In 2024, labor costs increased by €2.8 million compared to the same period in 2023. This rise includes €4.1 million in one-off severance-related expenses, primarily in China, Romania, and Italy, reflecting our ongoing efforts to optimize workforce levels across the Group's facilities. Additionally, labor costs rose in Romania, as part of the Government plan to increase the minimum wage, and in Italy, due to the renegotiation of national collective bargaining agreements. 3Q 2024 gross margin was 31.8%, compared to 35.4% in 3Q 2023 and 28.7% in 3Q 2019, as per the factors explained above. Net of the (€2.9) million of one-off severance costs, 3Q 2024 gross margin would have been 35.7%, which would compare to 35.5% in 3Q 2023 and 30.5% in 3Q 2019. OPERATING EXPENSES During the first nine months of 2024, operating expenses, which includes selling expenses, administrative expenses, other operating income/expenses, and the impairment of trade receivables, totaled (€90.8) million, or (37.2)% of revenue, compared to (€89.7) million, or (36.7)% of revenue in 2023 same period. In 2024, in particular, selling and administrative expenses were affected by the following factors, for a total of €3.1 million, compared to 2023 same period: - a €2.1 million of extra costs related to the opening of new DOS as well from the 4 additional stores opened in 2023; - a €1.0 million reduction in incentives from the Italian government compared to 2023 same period. During the first nine months of 2024, we accrued €0.7 million, to reduce the number of employees in Italy and in some of the Group's subsidiaries. During the first nine months of 2024, transportation costs as a percentage of revenue decreased to (7.8%) from (8.3%) during the same period in 2023. However, in 3Q 2024, they rose to (8.6%), compared to (7.6%) in 3Q 2023, primarily due to the Suez Canal crisis, which required rerouting shipments from China and Vietnam. To counter this inflationary pressure, the Company implemented freight surcharges starting in August 2024. In addition, within "Other income", during the first nine months of 2023, we benefitted from €2.0 million of extraordinary income mainly related to freight surcharges. In 2024, the benefits of similar extraordinary income were not significant. NET FINANCE INCOME/(COSTS) During the first nine months of 2024, the Company accounted for a total of (€7.4) million of Net Finance costs, compared to a total of (€5.6) million of Net Finance costs in 2023 same period. One of the main drivers of the difference between the two periods relates to unfavorable currency exchange movements, resulting in a net exchange rate loss of (€0.7) million in 2024, compared to a net exchange rate gain of €0.3 million in 2023 same period. Furthermore, persisting high interest rates continue to adversely impact our results, principally in terms of high interest expenses on lease contracts as well as third-party financing, resulting in 2024 finance costs of (€7.3) million compared to finance costs of (€6.6) million in 2023 same period. 2024 THIRD QUARTER: KEY RESULTS During 3Q 2024, the Company reported the following results: ─ Total revenue of €75.0 million, in line with €74.9 million in 3Q 2023. The third quarter is historically our slowest quarter, as Italian factories are customarily shut down for most of August. In addition, delivered sales during 3Q 2024 were significantly impacted by ongoing challenging business conditions resulting in lower than usual delivered sales in August and September. ─ We had gross margin of 31.8%, compared to 35.4% in 3Q 2023 and 28.7% in 3Q 2019. Excluding (€2.9) million of one-off severance-related costs to reduce workforce mainly at our Chinese factory, 3Q 2024 gross margin would have been 35.7%. As anticipated, 3Q 2024 gross margin was affected by a weak business trend during the quarter, particularly impacting delivered sales of Natuzzi Italia products, resulting in a less efficient absorption of fixed costs. In addition, a different brand mix, inventory exits and costs related to moving production from Shanghai to Quanjiao, further weighed on gross margin in 3Q 2024. ─ Operating expenses, which includes selling expenses, administrative expenses, other operating income/expenses, and the impairment of trade receivables, totaled (€27.7) million, or (36.9)% of revenue, compared to (€27.8) million, or (37.2)% of revenue in 3Q 2023. ─ Depreciation and amortization, which include also the depreciation charge of right-of-use assets related to the operating leases and accounted for in the cost of sales, selling and administrative expenses, amounted to €5.1 million in 3Q 2024, compared to €5.7 million in 3Q 2023 and €6.2 million in 3Q 2019. ─ In 3Q 2024 operating loss was (€3.8) million, which compares to a loss of (€1.4) million in 3Q 2023, and a loss of (€8.7) million in 3Q 2019. Net of the (€3.4) million of one-off severance costs, 3Q 2024 would have reported an operating loss of (€0.4) million. ─ Total Net Finance costs were (€3.3) million, compared to total Net Finance Costs of (€1.4) million in 3Q 2023, mainly as a result of: i) a €0.5 million increase in finance costs due to persisting high interest rates affecting in particular interest expenses on lease contracts and third-party financing, and ii) a €1.2 million negative difference from net exchange rate, following unfavorable currency movements. ─ We had a loss after tax for the period of (€7.4) million, primarily driven by the factors outlined above. This compares to a loss after tax of (€2.7) million in 3Q 2023 and to a loss after tax of (€11.7) million in 3Q 2019. CASH FLOW AND BALANCE SHEET As of September 30, 2024, we held €17.1 million in cash, from €33.6 million as of December 31, 2023, representing a decrease of €16.5 million. In particular, the difference in cash is determined as follows: ─ Net cash used in operating activities (€5.1) million. Of this, (€6.0) million to reduce workforce; ─ Net cash used in investing activities (€5.4) million; ─ Net cash used in financing activities (€7.1) million; ─ Effect of movements exchange rates on cash (€0.4) million; ─ Difference in bank-overdraft repayable on demand €1.5 million. As of September 30, 2024, we had a net financial position before lease liabilities (cash and cash equivalents minus long-term borrowings minus bank overdraft and short-term borrowings minus current portion of long-term borrowings) of (€28.7) million, compared to (€6.6) million as of December 31, 2023, indicating a deterioration of €22.1 million in the period. ******* Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statement of profit or loss for the third quarter of 2024 and 2023 on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise indicated) Third quarter ended on Change Percentage of revenue 30-Sep-24 30-Sep-23 % 30-Sep-24 30-Sep-23 Revenue 75.0 74.9 0.1 % 100.0 % 100.0 % Cost of Sales (51.1 ) (48.4 ) 5.7 % -68.2 % -64.6 % Gross profit 23.8 26.5 -10.0 % 31.8 % 35.4 % Other income 1.3 2.4 1.8 % 3.2 % Selling expenses (20.3 ) (21.6 ) -6.2 % -27.0 % -28.8 % Administrative expenses (8.5 ) (8.6 ) -0.8 % -11.3 % -11.4 % Impairment on trade receivables (0.3 ) (0.0 ) -0.4 % 0.0 % Other expenses 0.0 (0.1 ) 0.1 % -0.1 % Operating profit/(loss) (3.8 ) (1.4 ) -5.1 % -1.8 % Finance income 0.2 0.4 0.3 % 0.5 % Finance costs (2.4 ) (1.9 ) -3.1 % -2.5 % Net exchange rate gains/(losses) (1.1 ) 0.1 -1.5 % 0.2 % Net finance income/(costs) (3.3 ) (1.4 ) -4.4 % -1.9 % Share of profit/(loss) of equity-method investees (0.0 ) 0.4 0.0 % 0.5 % Profit/(Loss) before tax (7.1 ) (2.4 ) -9.4 % -3.2 % Income tax expense/(benefit) (0.3 ) (0.3 ) -0.4 % -0.4 % Profit/(Loss) for the period (7.4 ) (2.7 ) -9.9 % -3.6 % Profit/(Loss) attributable to: Owners of the Company (7.8 ) (2.7 ) Non-controlling interests 0.3 0.0 Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statement of profit or loss for the nine months of 2024 and 2023 on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise indicated) Nine months ended on Change Percentage of revenue 30-Sep-24 30-Sep-23 % 30-Sep-24 30-Sep-23 Revenue 243.9 244.5 -0.3 % 100.0 % 100.0 % Cost of Sales (156.7 ) (157.0 ) -0.2 % -64.25 % -64.21 % Gross profit 87.2 87.5 -0.4 % 35.8 % 35.8 % Other income 3.8 6.0 1.6 % 2.5 % Selling expenses (67.3 ) (68.2 ) -1.4 % -27.6 % -27.9 % Administrative expenses (27.0 ) (27.3 ) -1.1 % -11.1 % -11.1 % Impairment on trade receivables (0.3 ) (0.1 ) -0.1 % 0.0 % Other expenses (0.1 ) (0.2 ) 0.0 % -0.1 % Operating profit/(loss) (3.6 ) (2.2 ) -1.5 % -0.9 % Finance income 0.6 0.7 0.2 % 0.3 % Finance costs (7.3 ) (6.6 ) -3.0 % -2.7 % Net exchange rate gains/(losses) (0.7 ) 0.3 -0.3 % 0.1 % Net finance income/(costs) (7.4 ) (5.6 ) -3.1 % -2.3 % Share of profit/(loss) of equity-method investees 0.1 2.4 0.0 % 1.0 % Profit/(Loss) before tax (11.0 ) (5.5 ) -4.5 % -2.3 % Income tax expense (0.5 ) (0.9 ) -0.2 % -0.3 % Profit/(Loss) for the period (11.5 ) (6.4 ) -4.7 % -2.6 % Profit/(Loss) attributable to: Owners of the Company (11.9 ) (6.3 ) Non-controlling interests 0.4 (0.1 ) Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statements of financial position (condensed) on the basis of IFRS-IAS (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 ASSETS Non-current assets 176.0 188.6 Current assets 140.4 149.7 TOTAL ASSETS 316.4 338.3 EQUITY AND LIABILITIES Equity attributable to Owners of the Company 56.1 68.9 Non-controlling interests 4.6 4.3 Non-current liabilities 106.3 110.4 Current liabilities 149.5 154.7 TOTAL EQUITY AND LIABILITIES 316.4 338.3 Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statements of cash flows (condensed) (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 Net cash provided by (used in) operating activities (5.1 ) 3.2 Net cash provided by (used in) investing activities (5.4 ) (7.9 ) Net cash provided by (used in) financing activities (7.1 ) (15.7 ) Increase (decrease) in cash and cash equivalents (17.6 ) (20.4 ) Cash and cash equivalents, beginning of the year 31.6 52.7 Effect of movements in exchange rates on cash held (0.4 ) (0.8 ) Cash and cash equivalents, end of the period 13.6 31.6 For the purpose of the statements of cash flow, cash and cash equivalents comprise the following: (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 Cash and cash equivalents in the statement of financial position 17.1 33.6 Bank overdrafts repayable on demand (3.5 ) (2.0 ) Cash and cash equivalents in the statement of cash flows 13.6 31.6 CONFERENCE CALL The Company will host a conference call on Friday December 13, 2024, at 10:00 a.m. U.S. Eastern time (4.00 p.m. Italy time, or 3.00 p.m. UK time) to discuss financial information . To join live the conference call, interested persons will need to either: i) dial-in the following number: Toll/International: + 1-412-717-9633, then passcode 39252103# , or ii) click on the following link : https://www.c-meeting.com/web3/join/3PQUFXRW48XTKQ to join via video. Participants also have the option to listen via phone after registering to the link. ***** CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS Certain statements included in this press release constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be expressed in a variety of ways, including the use of future or present tense language. Words such as "estimate," "forecast," "project," "anticipate," "likely," "target," "expect," "intend," "continue," "seek," "believe," "plan," "goal," "could," "should," "would," "may," "might," "will," "strategy," "synergies," "opportunities," "trends," "ambition," "objective," "aim," "future," "potentially," "outlook" and words of similar meaning may signify forward-looking statements. These statements involve inherent risks and uncertainties, as well as other factors that may be beyond our control. The Company cautions readers that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to: effects on the Group from competition with other furniture producers, material changes in consumer demand or preferences, significant economic developments in the Group's primary markets, the Group's execution of its reorganization plans for its manufacturing facilities, significant changes in labor, material and other costs affecting the construction of new plants, significant changes in the costs of principal raw materials and in energy costs, significant exchange rate movements or changes in the Group's legal and regulatory environment, including developments related to the Italian Government's investment incentive or similar programs, the duration, severity and geographic spread of any public health outbreaks (including the spread of new variants of COVID-19), consumer demand, our supply chain and the Company's financial condition, business operations and liquidity, the geopolitical tensions and market uncertainties resulting from the ongoing armed conflict between Russia and Ukraine and the Israel-Hamas war and the inflationary environment and increases in interest rates. The Company cautions readers that the foregoing list of important factors is not exhaustive. When relying on forward-looking statements to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and events. Additional information about potential factors that could affect the Company's business and financial results is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's most recent Annual Report on Form 20-F. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release. About Natuzzi S.p.A. Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is one of the most renowned brands in the production and distribution of design and luxury furniture. As of September 30, 2024, Natuzzi distributes its collections worldwide through a global retail network of 678 monobrand stores and 628 galleries. Natuzzi products embed the finest spirit of Italian design and the unique craftmanship details of the "Made in Italy", where a predominant part of its production takes place. Natuzzi has been listed on the New York Stock Exchange since May 13, 1993. Committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), ISO 45001 certified (Safety on the Workplace) and FSC ® Chain of Custody, CoC (FSC-C131540). View source version on businesswire.com: https://www.businesswire.com/news/home/20241212991243/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Cyber-espionage group ‘ Salt Typhoon ’ targeting ‘at least’ eight US telecom and telecom infrastructure firms, according to The Guardian . U.S. government agencies have held a classified briefing for the House of Representatives on Salt Typhoon. This was the largest intelligence compromise in US history and it sparked a call to all U.S. citizens to switch to encrypted communications. Providing insights on Salt Typhoon and how organizations can proactively defend against APTs for Digital Journal is Renuka Nadkarni, Chief Product Officer at Aryaka . Nadkarni explains why the recent incident carries potential concerns for businesses: “Events like Salt Typhoon underscore how enterprises and users remain susceptible to breaches due to dependencies on external infrastructure. As distributed applications increasingly rely on public clouds, SaaS, and global service providers for computing, storage, and networking, organizations face expanding attack surfaces outside of their control. Breaches become a matter of “when” not “if.” There are structural reasons why vulnerabilities occur, linked to organizational setup and culture. Here Nadkarni reasons: “Many organizations rely on fragmented solutions from various vendors, leading to a lack of integration and limited visibility across their infrastructure, making it challenging to detect hidden malware. There is a lack of visibility due to complex environments such as sprawling IT systems with numerous endpoints, servers, and cloud integrations, which makes monitoring harder. Many organizations don’t log enough data or retain it long enough to trace the full extent of the compromise.” As a solution, streamlining is key. Nadkarni thinks: “Operational simplicity remains key for organizations to detect Salt Typhoon activity. These processes can become burdensome and difficult to sustain. Establishing clear roles and responsibilities for managing security policies and procedures is essential to maintaining an effective and manageable defence.” There are other measures that can be taken. Nadkarni recommends: “In addition to the guidance released by the FBI and CISA, organizations should adopt a zero-trust architecture that requires authentication and authorization for every access request, to help limit lateral movement and minimize the impact of a breach.” Furthermore, Nadkarni proposes: “Additionally, organizations should prioritize threat hunting by monitoring known APT-related indicators of compromise (IOCs) and indicators of Attack (IOAs). By utilizing network segmentation and AI-driven automation, organizations can quickly detect, triage, and respond to APT activity.” Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news.Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.