Trump meets Trudeau at Mar-a-Lago discusses trade border security drug crisis
Ticker: Trump names crypto booster to run SEC; GM to take $5B charge on China lossesCHARLESTON, S.C. , Dec. 12, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today filed a Form 8-K with the United States Securities and Exchange Commission (SEC) stating that the Company concluded a material pre-tax noncash impairment charge, which may be up to approximately $415 million , is required for its EVERFI asset group and will be recorded during the fourth quarter of 2024. As previously disclosed, due to EVERFI performing below expectations, Blackbaud is considering a range of alternatives for EVERFI, one of which includes a potential divestiture of the business. The impairment charge was determined to be necessary as part of this process. "To comply with generally accepted accounting principles, we're planning to record this noncash charge in the fourth quarter," said Mike Gianoni , president, CEO and vice chairman of the board of directors. "We want to emphasize that EVERFI remains well positioned to support its customers and continue helping companies dedicated to social impact reach communities through custom education and workplace solutions for today's key issues. In addition, Blackbaud's core business remains strong, and we are committed to helping customers around the world use technology to drive meaningful social impact. As we determine our long-term strategic approach to the EVERFI business, we will continue to provide updates." Additional details can be found in Blackbaud's Form 8-K filed today with the SEC. About Blackbaud Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud's essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud's solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers. A remote-first company, Blackbaud has operations in the United States , Australia , Canada , Costa Rica , India and the United Kingdom , supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter , LinkedIn , Instagram and Facebook . Media Inquiries media@blackbaud.com Forward-looking Statements Except for historical information, all of the statements, expectations and assumptions contained in this Current Report on Form 8-K are forward- looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company's estimates regarding the impairment charge related to the EVERFI assets. These statements involve a number of risks and uncertainties. Although we attempt to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the risk factors set forth from time to time in our filings with the Securities and Exchange Commission (the "SEC"), copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. We assume no obligation and do not intend to update these forward- looking statements, except as required by law. View original content to download multimedia: https://www.prnewswire.com/news-releases/blackbaud-announces-impairment-charge-related-to-everfi-assets-302330791.html SOURCE Blackbaud
Romanian lawmakers narrowly approve new pro-European coalition during period of political turmoilFormer captain Mark Taylor sends serious warning to Aussies ahead of first Test in PerthCalls for TikTok suspension after shock election result in Romania
BUCHAREST, Romania (AP) — Romanian lawmakers on Monday voted narrowly in favor of a new pro-European coalition government led by incumbent Prime Minister Marcel Ciolacu. The move could usher in an end to a protracted political crisis in the European Union country following the annulment of a presidential election by a top court. Parliament approved the new administration in a 240-143 vote in Romania's 466-seat legislature. The new coalition is made up of the leftist Social Democratic Party, or PSD, the center-right National Liberal Party, PNL, the small ethnic Hungarian UDMR party and national minorities. It caps a month-long period of turmoil in which far-right nationalists made significant gains in a Dec. 1 parliamentary election , a week after a first-round presidential race saw the far-right outsider Calin Georgescu emerge as the front-runner. “It will not be an easy mandate for the future government,” Ciolacu, whose PSD party topped the polls in the parliamentary election, said in a statement Monday. “We are aware that we are in the midst of a deep political crisis," he said. "It is also a crisis of trust, and this coalition aims to regain the trust of citizens, the trust of the people.” Romani's 16 ministerial positions will be shared among the parties, which will hold a slim majority in the legislature. It's widely seen as a tactical partnership to shut out far-right nationalists whose voices found fertile ground amid high living costs and a sluggish economy. Ciolacu, who came third in the first-round presidential ballot despite polls indicating he would win the most votes, has served as prime minister since June 2023. After parliament’s approval, President Klaus Iohannis swore in the new government and warned the new Cabinet that it's entering a “difficult new period” in which “for many Romanians, there are major concerns.” Romania was plunged into turmoil after Georgescu’s surprise success in the presidential race, after allegations of electoral violations and Russian interference emerged. Days before the Dec. 8 runoff, the Constitutional Court made the unprecedented move to annul the presidential race . “We go through complicated times, but I think we all learned from mistakes of the past,” Ciolacu said. “I hope that together with my colleagues in the coalition, we’ll find the best solutions to get past the challenges we have in front of us.” Ciolacu said that the new government would aim to quickly organize the rerun of the presidential election in which the new coalition has agreed to put forward an agreed common pro-European candidate. Cristian Andrei, a political consultant based in Bucharest, said that the new government made up of the same political parties will likely embrace “soft populist” rhetoric such as economic patriotism, anti-austerity, and a peace solution in neighboring Ukraine to counter the rise of far-right populism. “This will be a way to answer the concerns of many Romanians who voted for populists ... but will not solve the fundamental problem of trust,” he said. “The only decisive factor now will be who and how convincing the pro-European candidates will be against this popular revolt.” George Simion, the leader of the far-right Alliance for the Unity of Romanians, which came second in the parliamentary election, said that all lawmakers from his party on Monday would vote against the Ciolacu government. In 2021, the PSD and the PNL also formed an unlikely but increasingly strained coalition together with UDMR, which exited the Cabinet last year after a power-sharing dispute. Stephen McGrath reported from Warwick, England.
The central government's capital expenditure is expected to surge by an impressive 25 per cent year-on-year (YoY) in the second half of the financial year 2025, according to a report by Jefferies The report also noted that the overall expenditure of the government is also expected to surge by 15 per cent. It highlights that despite an increase in populist schemes in the run-up to elections, the central government remains committed to investing in infrastructure development over welfare-driven measures. The report underlined that while populist policies have gained traction, especially in state elections, the central government's spending priorities show a balanced approach. It said "Jefferies' India office expects total central government expenditure to rise by around 15% YoY in 2HFY25 ending 31 March 2025 with capex rising by over 25 per cent YoY.. Still the rise of such populist policies should be seen in the context of a central government which is still spending more on capex than welfare". The report noted that the growing success of handout schemes in state elections, such as Maharashtra's welfare programme costing Rs 460 billion annually (1.1 per cent of the state's GDP), does raise concerns about a potential wave of populism. Finance Startup Fundraising: Essential Tactics for Securing Capital By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Web Development Advanced Java Mastery: Object-Oriented Programming Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Leadership Crafting a Powerful Startup Value Proposition By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Marketing Digital Marketing Masterclass by Neil Patel By - Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Future of Marketing & Branding Masterclass By - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Office Productivity Advanced Excel Course - Financial Calculations & Excel Made Easy By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance AI and Generative AI for Finance By - Hariom Tatsat, Vice President- Quantitative Analytics at Barclays View Program Web Development Django & PostgreSQL Mastery: Build Professional Web Applications By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Excel Essentials to Expert: Your Complete Guide By - Study At Home, Quality Education Anytime, Anywhere View Program Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Microsoft Word Mastery: From Beginner to Expert By - CA Raj K Agrawal, Chartered Accountant View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrow's Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Data Science MySQL for Beginners: Learn Data Science and Analytics Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program The report analysis showed that 14 out of 28 Indian states already have similar schemes, covering approximately 120 million households and costing a combined 0.7-0.8 per cent of India's GDP. However, the central government's focus remains on creating long-term economic assets through infrastructure development, which is vital for sustained growth. In the financial markets, the report suggested a reasonable chance that the Indian stock market is stabilizing after a recent correction, particularly in the mid-cap segment. It said "Meanwhile, there is a reasonable possibility that the Indian stock market is bottoming out after a correction which has been primarily in the more expensive mid-cap stocks" While foreign investors sold more than USD 12.5 billion worth of Indian equities in the last two months, a significant amount by historical standards--domestic investors have absorbed the outflows. Notably, October saw record inflows into equity mutual funds, even as the stock market was undergoing a correction. The report emphasized that the strong domestic inflows are a reassuring factor for India's markets. The combined effects of government capex spending and robust local investment suggest a stable outlook, even amid concerns over rising populist measures at the state level. Nominations for ET MSME Awards are now open. The last day to apply is November 30, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )Kmart Australia shoppers go wild over new $35 item: 'OMG I need this in my life'Colman Domingo Details Why ‘The Madness’ Is a Drama for Today’s Era of Media Feeding Frenzies
Dodgers announce 5-year contract with LHP Blake SnellGood Wednesday afternoon in New York City, where a bunch of seaweed could make it hard to create that floating East River +POOL . Here's what else is happening:
Mayor’s school board members oust Chicago schools CEO, face litigation
MEXICO CITY — It would take years, if ever, for Mexico to accomplish what incoming U.S. President Donald Trump is demanding to avoid tariffs: stemming the flow of migrants and drugs over the border. That’s why Mexican President Claudia Sheinbaum’s efforts to avoid a full-blown trade war might be more about doing enough for both sides to claim success. Even a quick phone call — two days after Trump threatened 25% tariffs against his southern neighbor — seemed to change the tone: Trump said on social media that the Mexican president agreed to “stop people from going to our Southern Border, effective immediately.” Sheinbaum, meanwhile, assured her constituents that she touted to Trump Mexico’s existing approach to migration, which she stressed respects human rights, and that a new deal to collaborate would avoid new tariffs, without providing specifics. The whole exchange was reminiscent of Trump’s first term, when he threatened to send troops to shut down the border and then-President Andres Manuel Lopez Obrador responded by sending the national guard to help apprehend migrants. The move had a limited immediate effect, but sent a strong image that proved enough to at least avert tariffs of up to 25% on all imports from Mexico. Trump’s threats have a “dual objective,” said Palmira Tapia, a political scientist currently working for the government of the State of Mexico. The U.S. president-elect, she said, is simultaneously seeking to appeal to his constituents and strengthen his hand in talks on migration, drugs and trade. Sheinbaum also faces two challenges: She now must find a way to appease Trump to avoid tariffs that could hit 11% of Mexico’s gross domestic product, while also avoiding the perception — at home, and in the White House — that she will easily bend to demands from up north. “She’s talking to Trump, but she’s also talking to the Mexican public. It has to do with giving a dignified response before her voters, but at the same time trying to stop Trump,” said Catalina Perez Correa, a researcher at the Supreme Court’s Center for Constitutional Studies. “She’s saying, ‘I’m not going to let myself be stepped on by Trump.’ She’s saving face in front of the Mexican public.” Migration reality Mexico has long been a stomping ground for the U.S. when it comes to migration policy. It’s been tasked under successive U.S. presidents with beefing up its border security, increasing highway checkpoints and removing migrants from freight trains they often board. Even though migration rose far beyond the 2019 levels in the years after Lopez Obrador’s show of militarizing the border, Mexico has remained an at-times willing partner, accepting most of the millions of migrants who were quickly turned away from the U.S. border during the pandemic. But it hasn’t always been eager to help: The Biden administration often viewed AMLO, as the former president was known, as needing frequent reminders of its expectations for him on enforcement. In 2023, Biden Cabinet officials even visited AMLO in Mexico City just days after Christmas to urge him to do more as a record number of migrants reached the border. Under pressure from the White House during the U.S. election, Mexico helped it decrease border crossings by 65% over an 11-month period starting in December 2023. To do so, Mexican authorities have been detaining migrants in the north of the country and busing them south. There, they are forced to wait until they get an official appointment to apply for asylum in the U.S. — which can take months, if it ever happens at all. It’s all resulted in more than double the number of apprehensions of undocumented migrants between January and August compared with a year earlier, although Mexico has deported few. Experts have said that’s creating a humanitarian crisis in some of the southern cities where migrants are shipped off to. It’s also ratcheting up tensions with some locals, who argue that there aren’t enough jobs or resources to accommodate the newcomers. “What they’re doing now in Mexico is militarization of the border,” said Perez Correa. To further reduce border crossings into the U.S., Mexico could either carry out mass deportations or offer more opportunities to migrants in its territory. Both scenarios seem unrealistic. Simply increasing deportations would go against Lopez Obrador’s policy — which Sheinbaum inherited — of trying to address the problems in their origin countries that pushed them to leave, and it would be an expense for Mexico. After Sheinbaum’s call with Trump, she reiterated her government offers migrants options for international protection in its territory or “voluntary or assisted return” to their countries. The second option doesn’t seem feasible either: Most people want to go to the U.S., where they expect to have higher-paying jobs, more family or community support, and greater safety than in Mexico. Chemical diversions Deaths related to fentanyl — the cheap, synthetic opioid — have reached epidemic levels in the U.S. That’s why reining in the flow of the drug was on Trump’s list of demands. Should recent history be any indication, intervention is never simple. The U.S. arrest of a Mexican alleged drug leader has led to prolonged shootouts in recent months. And in any case, some academics argue simply confiscating more drugs means traffickers learn to produce more, to meet U.S. demand. So far, Mexico has worked to improve its technical capabilities to detect illicit substances at its ports, especially precursor chemicals and fentanyl. “The Navy has provided material and personnel to all ports for the fulfillment of these tasks, the personnel have the necessary training to be able to detect these substances,” said Captain Jose Barradas in an interview at the Manzanillo port, in the state of Colima. “All merchandise that arrives is prone to review under strict security protocols.” Sheinbaum also picked former Mexico City police chief Omar Garcia Harfuch to lead a new national security strategy, a move that was read inside Mexico as a signal of her willingness to increase enforcement in areas where the previous administration had been more hands-off. There’s more that could be done — but it would be hard. Trying to seize these substances at ports is insufficient because synthetic drugs tend to be very small, making them more difficult to detect than traditional drugs, said Victoria Dittmar, researcher at Insight Crime. Those who produce them often innovate with their recipes and use new chemicals that are not illegal. “Mexico can open collaboration paths with the private sector, with the chemical industry, because they know perfectly well its supply chains and the vulnerable areas where there could be diversions,” she said. “This collaboration is essential.” Mexico can also work to identify intermediaries that connect fentanyl producers with chemical suppliers abroad and in the country, people who work in certain companies and are authorized to divert these substances, according to Dittmar. Still, “the main weakness is not putting demand reduction as a priority, to prevent overdose deaths,” Dittmar said. “It’s a shared responsibility. It’s not just the fault of Mexico, the U.S. or Canada, but it’s an issue that affects the entire North American region.” A senior Mexican official said that the country’s actions to address drug trafficking have moved the nation in the direction of the fentanyl crackdown that Trump is demanding. The official cited a new law that will allow for coordinated intelligence efforts that is due to be implemented next year. History repeats It’s plausible that in the medium-term Trump will lower the intensity of his threats because a trade war would be the worst case scenario for both countries, said Tapia, the political scientist. But until then, she said, “Sheinbaum is on trial as to how well she will do” relative to her predecessor, who had a respectful relationship with Trump and often praised him. One strategy that Sheinbaum could pursue: Finding ways to give Trump the appearance of political victory. That was part of the rationale behind AMLO’s deployment of the National Guard — a move Trump still talks about now. “We got thousands of Mexicans patrolling our border free of charge,” he boasted at a recent event about his relationship with AMLO. “He’s a socialist,” Trump said. “But these are minor details.” ——— (With assistance from Eric Martin, Carolina Millan and Ramsey Al-Rikabi.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.Gov. Tim Walz wants to remain a force in politics, at state and national level
CHARLESTON, S.C. , Dec. 12, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today filed a Form 8-K with the United States Securities and Exchange Commission (SEC) stating that the Company concluded a material pre-tax noncash impairment charge, which may be up to approximately $415 million , is required for its EVERFI asset group and will be recorded during the fourth quarter of 2024. As previously disclosed, due to EVERFI performing below expectations, Blackbaud is considering a range of alternatives for EVERFI, one of which includes a potential divestiture of the business. The impairment charge was determined to be necessary as part of this process. "To comply with generally accepted accounting principles, we're planning to record this noncash charge in the fourth quarter," said Mike Gianoni , president, CEO and vice chairman of the board of directors. "We want to emphasize that EVERFI remains well positioned to support its customers and continue helping companies dedicated to social impact reach communities through custom education and workplace solutions for today's key issues. In addition, Blackbaud's core business remains strong, and we are committed to helping customers around the world use technology to drive meaningful social impact. As we determine our long-term strategic approach to the EVERFI business, we will continue to provide updates." Additional details can be found in Blackbaud's Form 8-K filed today with the SEC. About Blackbaud Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud's essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud's solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers. A remote-first company, Blackbaud has operations in the United States , Australia , Canada , Costa Rica , India and the United Kingdom , supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter , LinkedIn , Instagram and Facebook . Media Inquiries media@blackbaud.com Forward-looking Statements Except for historical information, all of the statements, expectations and assumptions contained in this Current Report on Form 8-K are forward- looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company's estimates regarding the impairment charge related to the EVERFI assets. These statements involve a number of risks and uncertainties. Although we attempt to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the risk factors set forth from time to time in our filings with the Securities and Exchange Commission (the "SEC"), copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. We assume no obligation and do not intend to update these forward- looking statements, except as required by law. View original content to download multimedia: https://www.prnewswire.com/news-releases/blackbaud-announces-impairment-charge-related-to-everfi-assets-302330791.html SOURCE Blackbaud
Middle East latest: Israeli strikes in Gaza kill more than 50 people, including kidsBy FATIMA HUSSEIN WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system . Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.” At a summit of BRIC nations in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar and described it as a “big mistake.” “It’s not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? We are forced to search for alternatives.” Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network, SWIFT, and allow Moscow to dodge Western sanctions and trade with partners. Trump said there is “no chance” BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen “should wave goodbye to America.”