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Environmental advocates are cautiously optimistic after the Supreme Court left California’s nation-leading auto emissions standards in place — at least for the moment. The Supreme Court declined to hear a challenge from Ohio and 16 other conservative states that aimed to strip California of its authority to adopt vehicle emissions standards stricter than federal benchmarks. However, days earlier, justices announced they will decide whether red-state fuel producers have legal standing to sue the U.S. Environmental Protection Agency for alleged financial losses caused by California’s stringent fuel economy standards and electric vehicle mandate. State policymakers and environmental advocates view the Supreme Court’s decision to leave California’s regulatory powers intact as a triumph. But, as an adversarial presidential administration is poised to take office, experts say they anticipate a flurry of legal objections over nearly all forthcoming California clean air policies. “The Supreme Court was right to turn away this radical request by Republican-led states to upend decades of law letting California cut pollution and clean our air,” said Daniel Villaseñor, a spokesperson for Gov. Gavin Newsom. “California’s authority was codified in the Clean Air Act by none other than Republican Richard Nixon, who recognized that California should continue serving as a lab for innovation to show the nation what’s possible with smart policy.” The battle to alleviate air pollution and reduce planet-warming gases will be waged largely in the courts over the next four years, according to experts. And the legal strategy, they say, will need to focus on defending California’s aggressive clean air rules as much as it will be about ushering in new regulation. “It’s good news, at least in the short term,” said Joe Lyou, president of California-based nonprofit the Coalition for Clean Air. “Everyone’s concerned about what’s going to happen in the long term. But this is a good start to what will undoubtedly be a long, long battle over clean air over the next four years. A lot of it is going to be up to the lawyers.” Several industry groups have already filed litigation to contest California’s rules, including a ban on new sales of gasoline vehicles in 2035. Last week, when the Supreme Court announced it would review a legal challenge over how California regulations affected fuel producers, it signaled its willingness to consider objections to California’s vehicle emission rules. However, the justices won’t be weighing the merits of the case, only whether the fuel companies have the right to sue. The District of Columbia Court of Appeals had previously ruled the lawsuit invalid, in part, because fuel producers are challenging California emission standards adopted in 2012. Because car manufacturers already comply with the standard, there is no feasible remedy for their claims, experts say. Another part of the fuel producers’ argument is that the Clean Air Act only grants California the ability to regulate conventional vehicle pollution for clean air — such as smog-forming nitrogen oxides — not planet-warming gases such as CO2 to address global warming. “Their argument is this authority was given to California because they have really bad smog problems, not because of climate change,” said Ann Carlson, the founding director of the Emmett Institute on Climate Change & the Environment at UCLA. “And therefore, they shouldn’t be able to regulate greenhouse gases under this special power they have.” But many environmental advocates say that argument may be moot. California air regulators have long maintained that air quality issues in major California cities — including smoggy Los Angeles — are so severe that electric vehicles are necessary to meet pollution standards. Air pollution and greenhouse gas emissions go hand in hand, they say. “You have a technology, in these zero emission vehicles, that can reduce the full spectrum of pollution,” said Alice Henderson, lead counsel for transportation and clean air policy at the Environmental Defense Fund, an organization that has helped defend California rules. “And it is sort of laughable to think that these air agencies should be forced to ignore that technology.” But the fight to enshrine clean air rules is not just legal sparring. For Lyou, it’s about the health consequences of inhaling air pollution. According to the California Air Resources Board, air pollution contributes to roughly 5,000 premature deaths each year in Southern California. “It really comes down to whether people are going to have asthma attacks, whether people die prematurely or whether people have heart attacks,” Lyou said. “These are lives at stake.”Revolutionary Shift! Game Pass Unlocks Monster Hunter Wilds
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SEALSQ Corp (NASDAQ: LAES) has strategically bolstered its financial standing by executing a registered direct offering of over 13 million ordinary shares at $1.90 each, amassing gross proceeds of $25 million. This move contributes to a total of $60 million raised through financings this week. The company has declared its resolve to abstain from further registered direct offerings for at least the next 60 days. The net proceeds are earmarked for significant technological advancements. SEALSQ plans to channel these funds into the deployment of next-generation post-quantum semiconductor technology and a boost in their ASIC capabilities across the United States. This allocation will not only support the firm’s technological infrastructure but will also aid in meeting general corporate needs and enhancing working capital. These steps are part of a broader strategy to strengthen their market position in cutting-edge technologies. Maxim Group took the central role as the sole placement agent in this financial maneuver, ensuring a smooth execution of the share offering. The company’s assertive financial activities signal its commitment to innovation and sustaining growth in the competitive semiconductor industry. This fundraising success solidifies SEALSQ Corp’s path towards future advancements. With significant funds secured and strategic plans in place, SEALSQ is well-positioned to make substantial strides in cutting-edge technology development and operational growth. SEALSQ Corp Raises $25 Million for Quantum Tech Innovations In an impressive financial move, SEALSQ Corp (NASDAQ: LAES) has successfully raised $25 million through a registered direct offering. This was achieved by issuing over 13 million ordinary shares at $1.90 each. In combination with previous financings, the company has now secured a total of $60 million within a week. Despite this aggressive fundraising, SEALSQ has announced a pause on additional registered direct offerings for at least the next 60 days. The funds raised are designated for crucial technological advancements, specifically in the realms of next-generation post-quantum semiconductor technology and enhanced application-specific integrated circuit (ASIC) capabilities in the United States. This strategic investment is not only aimed at strengthening SEALSQ’s technological infrastructure but also at boosting their overall market presence in the semiconductor industry. Maxim Group played a pivotal role as the sole placement agent in the execution of this share offering, ensuring its smooth transition in the financial landscape. SEALSQ’s strategic financial maneuvers underline its unwavering commitment to innovation and growth within the highly competitive semiconductor sector. Technological Investments and Market Positioning SEALSQ’s significant injection of funds towards post-quantum semiconductor technology reflects the company’s focus on sustaining long-term growth in cutting-edge fields. This focus aligns with broader industry trends where advancements in quantum computing are becoming a significant point of interest for technology companies worldwide. The expansion of ASIC capabilities further underscores SEALSQ’s dedication to maintaining and enhancing its competitive edge in the semiconductor market. Future Outlook With the recent financial boost and clear strategic plans, SEALSQ Corp is poised for substantial progress in its technological development and operational capabilities. By prioritizing advanced technologies, SEALSQ is setting the stage for future innovations that could redefine their standing in the semiconductor industry. For more information about SEALSQ Corp and their future initiatives, visit their official website .Fushi Technology to Launch AI Agent Industry Vertical Applications, Accelerating Southeast Asia Market Expansion 12-23-2024 07:52 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: LeadPRwire Online On December 20th, it was reported that Fushi Technology is set to launch its AI Agent industry vertical applications in the Southeast Asia region to help businesses improve efficiency and optimize operations. According to public information, Fushi Technology is an investment of Hong Kong-listed company Yeahka Limited (9923.HK). In 2024, Fushi already expanded its client base in Southeast Asia, including over 200 global and regional brands such as Starbucks, MUJI, Pizza Hut, New Balance, Levi's, KOI, and Mr. Coconut, covering markets in Singapore, Indonesia, Vietnam, and Malaysia, with over 20,000 stores in total. Fushi's achievements can be attributed to two key drivers: The first driver is the synergies created by its partnership with Yeahka. Leveraging the payment technology, service expertise, and applied artificial intelligence (AI) technologies that are already validated in China, Fushi provides more attractive business empowerment solutions for merchants across the Asia-Pacific region. The second key driver is that Fushi itself places great importance on the localization of its SaaS product development and operations functionalities. By continually harnessing the market attributes and customer preferences in different vertical industries overseas, Fushi has enriched its in-house product portfolio and greatly improved service efficiency, enhancing the breadth and depth of its business empowerment capabilities for clients, while also increasing customer retention. The launch of Fushi's AI Agent industry vertical application is also driven by the needs of those overseas clients outside of China. Currently, Fushi's AI Agent primarily targets the food and beverage industry. Customers can use conversational natural language, either through voice or text, on the brand's official app or website to inquire about various information related to restaurants and food, as well as place orders and make payments. This will significantly enhance the customer experience and improve order conversion rates. In the future, Fushi will also collaborate with Ascentis, a leading CRM company in Singapore that Fushi recently acquired, to develop a marketing AI agent, allowing businesses to automatically plan and execute marketing campaigns and manage customer relationships through natural language. AI Agents are intelligent entities based on large language models (LLMs) that can autonomously understand, plan, make decisions, and perform complex tasks. Unlike traditional large models, AI Agents not only tell you "how to do" something, but also help you "do it." According to Deloitte, AI Agents are reshaping industries in unprecedented ways. They not only expand the application scope of generative AI but also enhance AI capabilities through multi-agent AI systems. For example, after launching the AI-driven AXON2.0 advertising marketing engine, Applovin saw an increase in advertising monetization rates, with third-quarter revenue rising by 39% year-on-year and net profit growing by 300% year-on-year. As of December 20th, Applovin's stock price has increased by over 700% this year. With AI Agents reshaping traditional industries and technologies, more industry disruptors are expected to emerge. Jared, a partner at Y Combinator and a senior investor, recently analyzed the market, predicting that vertical AI Agents could become a new market that is 10 times larger than SaaS, potentially creating technology giants with market values exceeding $300 billion each. With China's expansion into overseas markets, Fushi is poised to seize new market opportunities, thanks to its long-standing experience in serving merchants in combination with the addition of proprietary AI Agents. Media Contact Company Name: Shenzhen Fushi Technology Co., Ltd Contact Person: Isabel LIU Email: Send Email [ http://www.universalpressrelease.com/?pr=fushi-technology-to-launch-ai-agent-industry-vertical-applications-accelerating-southeast-asia-market-expansion ] City: Shenzhen Country: China Website: http://www.fushi-tech.com This release was published on openPR.
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SACRAMENTO, Calif. , Dec. 19, 2024 /PRNewswire/ -- Reviver ® is proud to support the Winter Fest SoCal Car Show and Toy Drive, bringing joy to children and families in need. This past weekend, the Winter Fest SoCal Car Show and Toy Drive in Pomona, California , brought together car enthusiasts from across Southern California to celebrate the holidays and of course, all things cars. Attendees celebrated the season by decking out their cars, motorcycles and trucks, and supporting a good cause. This year's Winter Fest supported the Community Family Guidance Center (CFGC). CFGC helps southeast Los Angeles County's under-served children and their families heal from trauma, abuse, emotional, behavioral and mental health issues through proven interventions and compassionate guidance. "We're proud to partner with our community and fellow auto enthusiasts to make the holidays brighter for those who need it most," said Reviver Founder and Chief Strategy Officer Neville Boston . "Together, we can help create joy and ensure that every child experiences the magic of the season." If you missed Winter Fest or are not local to Los Angeles County , there are still many ways to give back. Reviver is inviting the community to join in spreading holiday cheer wherever they are by supporting a local toy drive . ABOUT REVIVER ® Reviver ® is a technology company on a mission to modernize the driving experience. As developer of the world's first digital license plate platform, Reviver products transform the license plate into a connected vehicle platform, enabling consumers and commercial businesses to digitize vehicle registration renewals and experience a growing set of personalization, convenience, and safety features, all managed through a mobile or web app interface. Reviver's digital license plates are legal for sale in Arizona and California , along with Texas for commercial fleet vehicles. Ten additional states are in various stages of adoption. Founded in 2009, Reviver is headquartered in Northern California , and is the official patch partner of the Sacramento Kings and the official innovation partner of the Sacramento Kings and Golden 1 Center. To purchase an RPLATE click here . To learn more about the RPLATE, click here . View original content to download multimedia: https://www.prnewswire.com/news-releases/reviver-helps-drive-the-spirit-of-giving-this-holiday-season-302336678.html SOURCE Reviver
NYT Strands December 24, 2024: Clues, answers, Spangram for todayPULASKI'S PAST: Fire Chief warns against chasing Fire TruckEquity investment can be a fun game, but identifying which stocks to purchase can be daunting. Given the vast array of different types out there, it becomes increasingly important to examine the various forms and what they may offer. Here is some insight on the most popular stocks to watch based on experience level, from new to investing to intermediate to advanced. High-growth stocks are popular among investors looking to capitalize on explosive returns. These companies are poised to outpace their industry peers and the broader market, driven by innovative products, strategic expansions, and disruptive business models. According to a report by Morningstar, growth stocks have historically offered higher long-term returns, but also come with higher volatility. For instance, in 2020, growth stocks on the S&P 500 surged over 20%, outperforming the broader index. Notable examples of high-growth stocks include tech giants like Amazon (up 76% in 2020) and Microsoft (up 41% in 2020), as well as newer players like Shopify (up 185% in 2020) and Zoom Video Communications (up 355% in 2020). However, it's essential to note that high-growth stocks often reinvest their capital to fuel further growth, which means they may not distribute dividends. As such, investors should be prepared for potential fluctuations and have a long-term perspective to ride out market volatility. Investors seeking regular income and relatively lower risk often turn to Dividend stocks . These shares, issued by established companies, distribute a portion of their profits to shareholders at regular intervals, typically in the form of cash dividends. According to a study by J.P. Morgan , dividend-paying stocks have contributed approximately 40% of the total stock market returns over the past 90 years, underscoring their appeal. Notably, since 1970, the S&P 500 Dividend Aristocrats Index, which tracks dividend-paying stocks with a history of consistent dividend growth, has outperformed the broader S&P 500 Index. Dividend stocks are particularly attractive to income-seeking investors, such as retirees, as they provide a regular stream of income. Key sectors that tend to offer attractive dividend yields include utilities, consumer goods, and healthcare. Companies like Exelon, with a 4.1% dividend yield, and Duke Energy, with a 3.8% dividend yield, offer stable and predictable income in the utilities sector. Established brands like Procter & Gamble and Coca-Cola have a history of consistent dividend payments, offering yields of 2.5% and 3.1%, respectively. Pharmaceutical giants like Johnson & Johnson and Pfizer offer a combination of dividend income and growth potential, with yields of 2.7% and 3.8%, respectively. Value stocks offer a compelling investment opportunity, as they represent companies whose intrinsic worth exceeds their current market value. These undervalued stocks, often overlooked or temporarily underperforming, have the potential for significant capital appreciation, making them attractive to investors willing to take on some risk. According to a study by Fidelity Investments, value stocks have historically outperformed growth stocks during market downturns, with a return differential of up to 5% per annum. For instance, during the 2008 financial crisis, the Russell 1000 Value Index declined by 36.1%, compared to a 38.5% decline for the Russell 1000 Growth Index. Notable examples of successful value investing include Warren Buffett's acquisition of Coca-Cola in the 1980s, when the stock was trading at a price-to-earnings ratio of around 15, significantly lower than its historical average. Similarly, investors who bought into Microsoft during the 2008 financial crisis, when its stock price had declined by over 40%, were rewarded with returns of over 500% in the subsequent decade. By identifying and investing in undervalued companies with strong fundamentals, investors can potentially reap significant rewards, making value stocks an attractive addition to a diversified investment portfolio. Another way to categorize stocks is by their market capitalization (market cap), which is the total value of a company's outstanding shares. Small-cap stocks have a market cap of under $2 billion and often have higher growth potential. They can offer substantial rewards but also come with more risk. Mid-cap stocks have a market cap between $2 billion and $10 billion and often represent companies in a growth phase. Large-cap stocks are companies worth over $10 billion. They tend to be more stable and have a long growth history, making them a popular choice for risk-averse investors. Investing in the stock market requires a thoughtful approach, balancing potential returns with risk tolerance. By understanding the diverse range of stock types, from dividend-paying stalwarts like Johnson & Johnson, which has increased its dividend for 59 consecutive years, to growth stocks like Amazon, which has delivered a 10-year annualized return of over 20%, investors can craft a portfolio tailored to their goals and risk appetite. Historically, a diversified portfolio with a mix of stock types has yielded impressive results, with the S&P 500 Index delivering an average annual return of around 10% over the past decade. By studying the various types of stocks and their characteristics, investors can make informed decisions, navigate market volatility, and increase their potential for long-term success.
Kane limps off as Bayern rescue draw at DortmundUp 860% in the last 12 months alone, Summit Therapeutics ( SMMT -2.53% ) is a skyrocketing stock that likely has more upside in store. Nonetheless, rapid gains like that tend to imply some downside risk for new investors, and this biotech is no exception. So, let's uncover the hidden risk here and what you need to know about it. This company's fate isn't entirely in its own hands Since it doesn't have any revenue yet, Summit's strategy is to license its pipeline assets from Akesobio , a larger biotech based in China. Its lead program and only clinical-stage candidate, an antibody called ivonescimab, is no exception. Although ivonescimab is approved for treating non-small cell lung cancer (NSCLC) by China's National Medical Products Administration, the Food and Drug Administration (FDA) in the U.S., or any other regulatory agency, is yet to approve it. Summit is thus performing a pair of phase 3 clinical trials in the U.S. testing the antibody for the same indications, hoping to generate a dataset that regulators at the FDA will find compelling enough to grant the approval for commercialization. A third phase 3 trial is planned, and it's expected to start in 2025. So, there is a well-known risk (to biopharma investors, at least) of those clinical trials failing to replicate Akesobio's results or otherwise failing to impress regulators in the U.S. But with no independently developed pipeline programs to its name, Summit is likely planning to continue to license additional programs from Akesobio rather than investing in early-stage research and development (R&D) . That could be a sustainable and ultimately very profitable strategy, because the Chinese biotech is investigating ivonescimab for a slew of additional indications beyond NSCLC, including head and neck cancer, ovarian cancer, colorectal cancer, and several others. Success with those programs would thus expand ivonescimab's total addressable market without requiring much in the way of a commitment up front from Summit. Alas, that's also the source of the stock's hidden risk, and it's a fierce one. If Akesobio fails in any of its ongoing or future clinical trials with ivonescimab, it will sharply dent the drug's addressable market -- and Summit's stock will be dented right along with it. The fact that it hasn't yet signed on the dotted line to license any additional indications from Akesobio doesn't matter; there is every indication that for Summit, Akesobio's pipeline is the only game in town when it comes to near-term opportunities for growth. Furthermore, unless ivonescimab is a cancer wonder drug of some kind (something that nobody should be betting on), stumbles in drug development are inevitable -- and, unfortunately, especially likely for applications in oncology. Things could still turn out for the best Don't rush to sell this company's stock on the basis of the significant risk waiting in the wings. In Summit's context, Akesobio's clinical setbacks could be good buying opportunities , provided the therapy aces clinical trials next time around, of course. From a financial standpoint, this is more than likely. As of the third quarter, Summit has $487 million in cash, cash equivalents, and short-term investments. Its R&D expenses were only around $38 million. Even with the planned expansions of the ivonescimab clinical trials next year, this company will still have enough cash to continue pursuing its licensing-based strategy for quite some time before it will need to consider raising more capital. Therefore, as its near-term needs for capital are minimal, damage to its share price is not an impediment, since it likely won't be issuing more shares anytime soon to keep the lights on. In other words, as long as Akesobio has more clinical trials ongoing and in the works, Summit can likely weather a few failures of its partner, even if it's a little painful for shareholders. That calculation will change if ivonescimab whiffs on most of its clinical trial objectives, of course. For now, it isn't worth avoiding Summit's stock. While it does face considerable risks, some of which are out of its hands, it also has the benefit of being somewhat shielded from the very high risks of burning money on early-stage clinical trials. Still, one thing is clear: To know where Summit Therapeutics' stock is going, keep your eyes on Akesobio.
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