Jamichael Stillwell scores 22 to lead Milwaukee to 69-65 victory over St. Thomas-MinnesotaInter Milan Manager Blasts Lethargic Nerazzurri Performance Vs Bayer Leverkusen: “Not Good Enough”
The euro rose on Wednesday in choppy trading, as a French no-confidence vote due later in the session seemed to have already been priced in the currency, while the U.S. dollar slipped as December interest rate cut chances firmed amid signs the American economy was slowing. The South Korean won , one of the biggest movers on Tuesday, rose against the dollar, bolstered by suspected central bank intervention and the finance ministry’s pledge of “unlimited” liquidity support to markets. That came a day after South Korean President Yoon Suk Yeol declared martial law in a late-night television address, only to lift it hours later. The euro climbed 0.1% against the dollar to $1.0522 ahead of a vote by French lawmakers on no-confidence motions which are all but certain to topple the fragile coalition of Prime Minister Michel Barnier. The debate began at 4 p.m. in Paris (1500 GMT), with voting expected about three hours later, parliament officials said. “The French vote has been partially priced in the euro because yesterday the headlines suggested that the outcome of the vote may be negative,” said Vassili Serebriakov, FX strategist at UBS in New York. “We think the impact of French political risks would be negative ... because the European economy today is much weaker. Europe is also facing challenges like tariff threats in the U.S. It’s also potentially more damaging for the euro because it comes at a time broader appetite for European assets is waning.” Three sources told Reuters that French President Emmanuel Macron aims to install a new prime minister quickly if his government falls on Wednesday. Barnier’s removal would deepen the political crisis in the euro zone’s second-largest economy, and could further weigh on the euro, which has fallen sharply since Donald Trump’s victory in November’s U.S. presidential election. Investors also digested comments from European Central Bank President Christine Lagarde in a parliamentary hearing on Wednesday. She said the ECB will continue to lower rates, but did not commit to any pace of easing. The ECB will next meet on Dec. 12, and economists overwhelmingly expect another 25 basis point rate cut, the fourth such move this year. In the United States, the dollar index inched lower to 106.25, down 0.1%. Wednesday’s economic data did not shake expectations of an interest rate cut later this month. U.S. private payrolls increased at a moderate pace in November, although it came below expectations, while annual wages for workers staying in their jobs edged up for the first time in 25 months. Private payrolls rose by 146,000 jobs last month after advancing by a downwardly revised 184,000 in October, the ADP report showed. Economists polled by Reuters had forecast private employment increasing by 150,000 positions after a previously reported 233,000 jump in October. At the same time, the U.S. services sector activity slowed in November after posting big gains in recent months. The Institute for Supply Management’s nonmanufacturing purchasing managers index slipped to 52.1 last month after surging to 56.0 in October, which was the highest level since August 2022. Economists polled by Reuters had forecast the services PMI easing to 55.5. “Although the U.S. services sector is expected to continue fuelling the economic expansion, momentum has faded this quarter,” Priscilla Thiagamoorthy, senior economist at BMO, wrote in a research note. “That, along with a still-subdued ISM manufacturing index, suggests growth is likely moderating.” U.S. fed funds futures raised the chances of a 25 basis point cut this month to 76%, from about 73% late Tuesday, while reducing the odds of a pause in easing to 24% from 27% the day before, according to the CME’s FedWatch tool. The dollar edged higher after St. Louis Fed President Alberto Musalem said on Wednesday he expects the U.S. central bank to continue to cut rates, but said it is keeping its options open on the Dec. 17-18 meeting. Musalem will be a voter on the Federal Open Market Committee next year. Markets will now await Chair Jerome Powell’s remarks this afternoon for clues on the Fed’s December decision, before turning to Friday’s jobs report. In South Korea, the won regained some ground on Wednesday after plunging overnight in the wake of President’s declaration of martial law, which was reversed hours later. The dollar was last down 0.7% at 1,414.5 won, after jumping overnight. But politics remained in focus and South Korean lawmakers on Wednesday submitted a bill to impeach President Yoon. The dollar also climbed against the Japanese yen , rising 0.5% to 150.315. Dealers said the country’s central bank may have supported the won at Wednesday’s open by selling dollars. Currency bid prices at 4 December 04:17 p.m. GMT Source: Reuters (Reporting by Gertrude Chavez-Dreyfuss in New UKevin Buckland, Alun John and Greta Rosen Fondahn; Editing by Muralikumar Anantharaman, Kim Coghill, Gareth Jones and Jonathan Oatis)
Oil prices rose slightly on Wednesday, with traders expecting OPEC+ to announce an extension to supply cuts this week while heightened geopolitical tensions continue to dominate market sentiment. Brent crude futures rose 38 cents, or 0.5%, to $74.00 a barrel by 1428 GMT, while U.S. West Texas Intermediate crude futures were up 32 cents, also 0.5%, to $70.26. On Tuesday, Brent posted its biggest gain in two weeks, rising by 2.5%. A shaky ceasefire between Israel and Hezbollah, South Korea’s curtailed declaration of martial law and a rebel offensive in Syria that threatens to draw in forces from several oil-producing countries all lent support to oil prices, said Priyanka Sachdeva, senior market analyst at Phillip Nova. In the Middle East, Israel said on Tuesday it would return to war with Hezbollah if their truce collapses and that its attacks would go deeper into Lebanon and target the state itself. In South Korea, meanwhile, lawmakers have submitted a bill to impeach President Yoon Suk Yeol after his declaration of martial law on Tuesday, which was reversed within hours, sparking a political crisis in Asia’s fourth-largest economy. However, the bullish momentum hasn’t pushed crude past the $75 resistance, indicating market sensitivity to geopolitical and economic developments may be waning, said Dilin Wu, research strategist at Pepperstone. “With OPEC+ widely expected to extend its 2.2 million barrels per day voluntary production cut into the first quarter of 2025, prices are likely to stay range-bound unless a new catalyst emerges,” Wu said. The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, are likely extend output cuts until the end of the first quarter next year when members meet on Thursday, industry sources told Reuters. OPEC+ has been looking to phase out supply cuts through next year. “Neither geopolitics and OPEC+ action nor sanguine financial data will alter the underlying fundamental outlook. Protracted attempts to push oil towards $80 a barrel will be reined in by supply checks and loose oil balances,” said PVM oil analyst Tamas Varga. U.S. crude oil inventories rose 1.2 million barrels last week, market sources said, citing data from the American Petroleum Institute. Gasoline stocks also rose, by 4.6 million barrels, even though the week included Thanksgiving, when demand typically rises. Official data on oil stocks from the U.S. Energy Information Administration is due on Wednesday at 10:30 a.m. ET (1530 GMT). Analysts polled by Reuters expect crude stocks to decline by 700,000 barrels and gasoline stocks to rise by 639,000 barrels. Source: Reuters (Reporting by Arunima Kumar in Bengaluru and Emily Chow in Singapore Additional reporting by Paul Carsten Editing by David Goodman and David Evans)
Prime Minister Justin Trudeau is taking some time to reflect after Chrystia Freeland’s bombshell resignation as finance minister, Energy Minister Jonathan Wilkinson said Tuesday. That comes as the number of Liberals who are calling for Trudeau to step aside appears to have grown. “The prime minister, as I understand it, a number of caucus colleagues have said that the prime minister has said that he will reflect on both the decision that minister Freeland made, but also what he’s heard from members of his own caucus,” Jonathan Wilkinson said in an interview with The Canadian Press. “I think we all need to give him a little time to reflect, and I respect that fact that he’s going to take some time to reflect.” The House of Commons is now on its holiday break, giving Trudeau a few weeks to decide on his next move before MPs return to Ottawa on Jan. 27. Freeland’s decision to walk away from the top cabinet job came three days after Trudeau had informed her she would be moved out of the finance portfolio in the next cabinet shuffle. The news came out just hours before she was set to present the government’s fall economic statement in the House of Commons. That kicked off a day of turmoil on Parliament Hill that began with an unexpected cabinet meeting, followed by hours of confusion about which minister might table the important financial update, or if it would be introduced at all. Several Liberal MPs demanded an emergency caucus meeting, and during that evening gathering, some of them called for Trudeau to step aside as party leader. New Brunswick MP Wayne Long, one of 23 caucus members who signed a letter back in October calling for Trudeau to quit, remains adamant that it’s time for Trudeau to go. He said this time “is so different than times before.” “We certainly have more MPs than last time. So, if I had to guess how many more right now, I’d say we’re probably at 40 to 50 right now,” Long said. The attempt to oust Trudeau earlier in the fall ultimately failed to garner support from anyone in cabinet. This time, Long said, at least five cabinet ministers believe it’s time for a change at the top — though he did not identify them. “I certainly am one to say to my colleagues, to ministers in particular: ‘Let’s come out of the shadows,’” Long said. “Let’s openly, once and for all, state how we feel and let’s move forward with what we know has to happen.” Several former cabinet ministers have called for Trudeau to go, including former environment minister Catherine McKenna on Tuesday. “Every Liberal MP should be calling on the prime minister to resign,” she said in a post on social media. “The surest way to elect a Conservative majority and lose all the progress we’ve made is for him to stay. And we need to focus on tariff threat from the U.S. It’s over.” But most current cabinet ministers, when asked, have backed the prime minister publicly. Before question period on Tuesday Treasury Board President Anita Anand and Diversity Minister Kamal Khera, replied “yes” when asked if they support the prime minister. Environment Minister Steven Guilbeault said the same. Prince Edward Island MP Sean Casey isn’t convinced this attempt to push Trudeau out will work any differently than when he and 22 colleagues asked the prime minister to resign in October. At the time, Liberal MPs told reporters that Trudeau pledged to reflect on what was said. The very next day, he publicly stated his intention to stay on as leader. Casey does not think the prime minister will take a walk in the snow now, either. “There’s not a single indicator in anything that he says or does that would tell me otherwise. He seems to be absolutely committed and he has throughout the piece, he’s been remarkably consistent,” Casey said. Whenever Trudeau has been asked if he intends to lead the Liberals in the next election the response has been an unambiguous “yes.” Trudeau typically holds a cabinet retreat before the return of Parliament and a long-anticipated cabinet shuffle is likely to come soon. He replaced Freeland immediately with longtime friend and ally Dominic LeBlanc, who officially is now the minister of public safety, finance and intergovernmental affairs. Anand also holds two portfolios, juggling Treasury Board with transport, which she took on after Pablo Rodriguez stepped aside to prepare a run for the Liberal leadership in Quebec. There are also at least five sitting ministers who do not plan to run in the next election, including Housing Minister Sean Fraser, whose announcement on Monday about his future was completely overshadowed by Freeland’s bombshell. It has been a tumultuous fall for the government. The Liberals survived three non-confidence votes in the House of Commons and have struggled to advance legislation because of a filibuster on a Conservative privilege motion related to misspending at a now-defunct green technology fund. On Tuesday, Conservative Leader Pierre Poilievre once again called on NDP Leader Jagmeet Singh to topple the government. Poilievre said Canada needs an election because U.S. president-elect Donald Trump “can spot weakness from a mile away” and the Trudeau government is weak. Bloc Québécois Leader Yves-François Blanchet also said a new Parliament is needed “as soon as possible,” and he wants to see an election called in January. Blanchet said Trudeau has lost the political, moral and ethical authority to govern. On Monday, Singh called for Trudeau to step down but did not make a firm comment on whether the NDP would vote non-confidence in the Liberal government, saying only that “all options are on the table.” The NDP, which ended a formal supply-and-confidence agreement to support the Liberals in September, has since voted with the government on all three non-confidence motions, trying to spin it as voting against the Conservatives rather than with the Liberals. Singh has repeatedly said a Poilievre-led Conservative government would cut things New Democrats have fought for like dental care, pharmacare and other social programs.
‘Not once did I suspect...’: Nicole Saphier defends Pete Hegseth (Picture credit: X/@NBSaphierMD) Dr Nicole Saphier, a prominent Fox News contributor, has strongly defended her colleague Pete Hegseth following an NBC News report alleging concerns about his on-air conduct. Saphier, known for her regular appearances on ‘Fox & Friends’, dismissed the claims on social media, saying she has never witnessed any unprofessional behaviour from Hegseth during their years of working together. Taking to platform X, formerly Twitter, Saphier wrote: "I have routinely sat on the couch with @PeteHegseth for 8 years. Not once did I suspect he had consumed anything other than an egg sandwich and coffee before going on air." Her statement follows NBC News's report citing "10 current and former Fox employees" who alleged smelling alcohol on Hegseth before broadcasts, a claim Saphier, along with other Fox personalities, has categorically denied. Will Cain, a current cohost of Fox & Friends, described the allegations as "horses***" on X, while fellow cohost Rachel Campos-Duffy echoed similar sentiments, criticising NBC for relying on anonymous sources and not reaching out to Hegseth's closest colleagues. Campos-Duffy stated, "The losers at NBC News never reached out to me either... You now have 2 people who sat next to him 8+ hours a week on the record." Other Fox News contributors have also rallied behind Hegseth. Guy Benson, Joey Jones, and Lisa Boothe all dismissed the claims as baseless, with Boothe calling the report a "malicious smear." Piers Morgan, a frequent guest on Fox & Friends, also lent his voice in support, describing Hegseth as "utterly professional on camera and a nice, respectful guy off it." The controversy has surfaced at a pivotal moment for Hegseth, who has been nominated by President-elect Donald Trump to serve as the next US Secretary of Defense. A Trump transition spokesperson categorically denied the allegations, describing them as "disgusting" and politically motivated attacks against a "decorated combat veteran." As the controversies around Pete Hegseth continue to mount, Trump is reportedly considering replacing Hegseth with Florida Governor Ron DeSantis as his pick for secretary of defence, reported the Wall Street Journal.
CAPE CANAVERAL, Fla. — NASA's two stuck astronauts just got their space mission extended again. That means they won't be back on Earth until spring — 10 months after rocketing into orbit on Boeing's Starliner capsule. NASA announced the latest delay in Butch Wilmore and Suni Williams' homecoming Tuesday. The two test pilots planned to be away just a week or so when they blasted off June 5 on Boeing's first astronaut flight to the International Space Station. Their mission grew from eight days to eight months after NASA decided to send the company's problem-plagued Starliner capsule back empty in September. FILE - This image made from a NASA live stream shows NASA astronauts Suni Williams and Butch Wilmore during a press conference from the International Space Station on Friday, Sept. 13, 2024. (NASA via AP, File) Now the pair won't return until the end of March or even April because of a delay in launching their replacements, according to NASA. A fresh crew needs to launch before Wilmore and Williams can return and the next mission was bumped more than a month, according to the space agency. NASA's next crew of four was supposed to launch in February, followed by Wilmore and Williams' return home by the end of that month alongside two other astronauts. But SpaceX needs more time to prepare the new capsule for liftoff. That launch is now scheduled for no earlier than late March. NASA said it considered using a different SpaceX capsule to fly up the replacement crew in order to keep the flights on schedule. However, it decided the best option was to wait for the new capsule to transport the next crew. NASA prefers to have overlapping crews at the space station for a smoother transition, according to officials. Most space station missions last six months, with a few reaching a full year. A SpaceX Falcon 9 rocket, with a crew of two astronauts, lifts off from launch pad 40 at the Cape Canaveral Space Force Station in Cape Canaveral, Fla., Saturday, Sept. 28, 2024. (AP Photo/Chris O'Meara) A SpaceX Falcon 9 rocket, with a crew of two astronauts, lifts off from launch pad 40 at the Cape Canaveral Space Force Station Saturday, Sept. 28, 2024, in Cape Canaveral, Fla. (AP Photo/Chris O'Meara) NASA astronaut Nick Hague, left, and Roscosmos cosmonaut Aleksandr Gorbunov, left, gives a thumbs up as they leave the Operations and Checkout Building on their way to Launch Complex 40 for a mission to the International Space Station Saturday, Sept. 28, 2024 at Cape Canaveral, Fla., (AP Photo/John Raoux) NASA astronaut Nick Hague, right, and Roscosmos cosmonaut Aleksandr Gorbunov leave the Operations and Checkout building for a trip to the launch pad 40 Saturday, Sept. 28, 2024, at the Kennedy Space Center in Cape Canaveral, Fla. (AP Photo/Chris O'Meara) NASA astronaut Nick Hague, right, talks to his family members as Roscosmos cosmonaut Aleksandr Gorbunov looks on after leaving the Operations and Checkout building for a trip to the launch pad 40 Saturday, Sept. 28, 2024, at the Kennedy Space Center in Cape Canaveral, Fla. Two astronauts are beginning a mission to the International Space Station. (AP Photo/Chris O'Meara) In this image from video provided by NASA, Roscosmos cosmonaut Aleksandr Gorbunov, left, and astronaut Nick Hague travel inside a SpaceX capsule en route to the International Space Station after launching from the Kennedy Space Center in Cape Canaveral, Fla., Saturday, Sept. 28, 2024. (NASA via AP) A SpaceX Falcon 9 rocket, with a crew of two astronauts, lifts off from launch pad 40 at the Cape Canaveral Space Force Station Saturday, Sept. 28, 2024, in Cape Canaveral, Fla. (AP Photo/Chris O'Meara) A SpaceX Falcon 9 rocket, with a crew of two astronauts, lifts off from launch pad 40 at the Cape Canaveral Space Force Station in Cape Canaveral, Fla., Saturday, Sept. 28, 2024. (AP Photo/Chris O'Meara) A SpaceX Falcon 9 rocket with a crew of two lifts off from launch pad 40 at the Cape Canaveral Space Force Station Saturday, Sept. 28, 2024 at Cape Canaveral, Fla. (AP Photo/John Raoux) The Falcon 9's first stage booster returns to Landing Zone 1 at the Cape Canaveral Space Force Station Saturday, Sept. 28, 2024 at Cape Canaveral, Fla. (AP Photo/John Raoux) A SpaceX Falcon 9 rocket with a crew of two lifts off from launch pad 40 at the Cape Canaveral Space Force Station Saturday, Sept. 28, 2024 at Cape Canaveral, Fla. (AP Photo/John Raoux) Get local news delivered to your inbox!None
Monport Laser Unwraps the "Christmas Laser Bonanza" - Spark Your Creativity with Unbeatable Festive OffersEstablished by Volkswagen in 2022, PowerCo is committed to ramp-up global battery cell production. PowerCo oversees international factory operations, advances in cell technology, and vertical integration of the battery value chain. PowerCo has identified three gigafactory locations - Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada - with a combined capacity of up to 200 GWh/year. NOVONIX and PowerCo previously announced the signing of a non-exclusive Testing and Development Agreement in March 2024. NOVONIX's Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America and is slated to begin commercial production in 2025, with plans to grow output to 20,000 tonnes per annum ("tpa”) to meet current customer commitments. Previously, the Company announced the U.S. Department of Energy ("DOE”) Office of Manufacturing and Energy Supply Chains ("MESC”) awarded the Company a US$100 million grant and was selected for a US$103 million investment tax credit towards the funding of the Riverside facility. The Company is also progressing plans to build a second production facility, in the southeastern United States, that will have an initial capacity of 30,000 tpa and plans to expand that facility to 75,000 tpa. NOVONIX remains in discussions with the DOE Loan Program Office ("LPO”) for an Advanced Technology Vehicles Manufacturing Program loan to support the construction of this new production facility. NOVONIX's current plans call for total production to increase to at least 150,000 tpa of synthetic graphite material to accommodate anticipated customer demand. Key Deal Terms About NOVONIX NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future. To learn more, visit us at www.novonixgroup.com or on LinkedIn and X . For NOVONIX Limited Scott Espenshade, [email protected] (investors) Stephanie Reid, [email protected] (media) Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as "anticipate,” "believe,” "contemplate,” "continue,” "could,” "estimate,” "expect,” "intend,” "may,” "plan,” "potential,” "predict,” "project,” "should,” "target,” "will,” or "would,” or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements we make regarding meeting our target production capacity and scaling of production at our Riverside facility, our plans to build a new production facility and achieve initial and total production capacities, our efforts to finance this new production facility with a loan from the LPO, our estimate of future anticipated North American graphite demand and our plan to be a significant supplier of high-performance synthetic graphite to the North American market. We have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of our furnace technology, our ability to meet the technical specifications and demand of our existing and future customers, including PowerCo, the accuracy of our estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and our compliance with the applicable terms of government support, including the DOE MESC grant and, if obtained, the LPO loan, our ability to obtain patent rights effective to protect our technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory developments in the United States, Australia and other jurisdictions. These and other factors that could affect our business and results are included in our filings with the U.S. Securities and Exchange Commission ("SEC”), including the Company's most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting our Investor Relations website at www.novonixgroup.com or the SEC's website at www.sec.gov . Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.Chris Jackman Launches Personal Blog to Explore Legal Insights and Inspire the Next Generation of Lawyers 12-17-2024 11:46 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: Erase Technologies, LLC Image: https://www.globalnewslines.com/uploads/2024/12/1734444847.jpg Chris Jackman, Attorney, Seattle Washington. Chris Jackman, esteemed attorney and founder of The Jackman Law Firm, is proud to announce the launch of his personal blog, a platform dedicated to providing unique perspectives on the legal field while offering guidance to aspiring attorneys. The blog will cover a wide range of topics, including the evolving landscape of personal injury law, building client trust, and the importance of empathy in legal practice. Having secured nearly $50 million in settlements since founding his firm in 2014, Chris Jackman brings a wealth of experience and a fresh voice to the legal blogging space. His aim is to make complex legal topics accessible, offer actionable advice for law students and young professionals, and share the lessons he has learned throughout his career. "My hope is that this blog becomes a resource for anyone interested in law-not just those practicing, but also those navigating the legal system or considering a career in it," said Jackman. "I also want to inspire future lawyers by discussing the human side of law and the profound impact empathy and dedication can have on clients." In addition to practical advice, the blog will delve into key themes like resilience, professional growth, and the role of mentorship in the legal profession. It will also spotlight pressing legal issues and provide insights into emerging trends that are shaping the field. To check out Chris Jackman's blog, visit his website here [ https://www.chris-jackman.com/ ]. About Chris Jackman: Chris Jackman is the founder of The Jackman Law Firm, specializing in personal injury, mass torts, and immigration law. Known for his client-centered approach, he has dedicated his career to advocating for individuals facing significant challenges. His new blog aims to share insights from his professional journey and inspire the next generation of lawyers. Media Contact Company Name: Chris Jackman Attorney Contact Person: Chris Jackman Email: Send Email [ http://www.universalpressrelease.com/?pr=chris-jackman-launches-personal-blog-to-explore-legal-insights-and-inspire-the-next-generation-of-lawyers ] City: Seattle State: Washington Country: United States Website: https://chrisjackmanlawyer.com This release was published on openPR.
InitVerse Launches INIChain with the World's first TFHE-Based EVM 12-17-2024 11:34 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: LianPR Singapore - Dec 17, 2024 - InitVerse has officially launched the upgraded version of INIChain, introducing TfhEVM-the world's first blockchain innovation that seamlessly combines Fast Fully Homomorphic Encryption based on the Torus (TFHE) with Ethereum Virtual Machine (EVM) compatibility. TfhEVM enables encrypted data computation directly on-chain, a breakthrough that ensures sensitive data can be processed securely while maintaining blockchain transparency and performance. As a privacy-first blockchain infrastructure, INIChain sets a new benchmark for decentralized applications, addressing critical challenges in data security without compromising efficiency or scalability. This pioneering fusion of TFHE and EVM marks a major step forward in blockchain technology, paving the way for a more secure and privacy-focused ecosystem. Image: https://www.globalnewslines.com/uploads/2024/12/60d88de7fbd42db7ca3592cb8f1bcd64.jpg How INIChain Solves Blockchain's Privacy Challenges Blockchain's transparency has long been a double-edged sword. While essential for trust-building, it often leaves sensitive data vulnerable, posing significant challenges for industries like AI that rely on large datasets. As Web3 enters mainstream adoption, the demand for robust privacy solutions is not only a user expectation but increasingly a regulatory requirement. INIChain, powered by TfhEVM, bridges this gap by enabling encrypted computations directly on-chain, ensuring sensitive information remains secure throughout its lifecycle while maintaining blockchain transparency. "TfhEVM is not just a technological achievement; it's the foundation of a more secure and inclusive Web3 ecosystem," said Nicolas, COO at InitVerse. "With INIChain, we're introducing a blockchain solution that empowers developers to build privacy-preserving applications that are scalable, efficient, and aligned with the needs of modern users." INIChain's Enterprise-Grade Privacy and Scalability INIChain's robust architecture positions it as a leader in enterprise-grade blockchain solutions. TfhEVM enables computation on encrypted data, ensuring complete privacy and security. Its EVM compatibility allows developers to migrate or adapt existing Ethereum-based applications seamlessly. Supporting TfhEVM is the Dual Dynamic Adjustment (DDA) mechanism, which dynamically allocates resources and adjusts block validation complexity based on privacy requirements and network load. This ensures scalability, decentralization, and performance even in high-demand scenarios. Complementing these features is the proprietary VersaHash algorithm, which enhances transaction processing speed while minimizing gas costs without compromising security. The INIChain ecosystem simplifies blockchain accessibility for developers and enterprises. By integrating a low-code SaaS platform, InitVerse allows rapid development and deployment of decentralized applications, reducing costs and accelerating time-to-market. With TfhEVM and DDA, developers can configure applications to meet specific privacy requirements, balancing performance and confidentiality seamlessly. Image: https://www.globalnewslines.com/uploads/2024/12/43c6892efa4735aa8e52aa0f562f71ca.jpg INIChain's transformative potential is evident in its real-world applications. By enabling secure computation on encrypted data, it ensures sensitive datasets-such as user geographic information or proprietary model inputs-remain protected. In the AI sector, the platform facilitates privacy-preserving machine learning and algorithm training without exposing raw data. Similarly, DeFi can leverage INIChain for secure credit scoring, safeguarding financial histories while building trust. With the official launch of INIChain new testnet, InitVerse is inviting developers, enterprises, and blockchain enthusiasts to join its ecosystem. This pioneering platform sets a new standard for blockchain privacy and scalability, paving the way for secure, innovative decentralized applications. For more information, visit https://genesis-testnet.inichain.com [ https://genesis-testnet.inichain.com/ ] or contact business@inichain.com Website: https://www.initverse.org/ [ https://www.initverse.org/ ] Testnet: https://genesis-testnet.inichain.com [ https://genesis-testnet.inichain.com/ ] X: https://twitter.com/initverse [ https://twitter.com/initverse ] Discord: https://discord.gg/initverse [ https://discord.gg/initverse ] Telegram: https://t.me/InitVerseWeb3 Medium: https://medium.com/initverse-official Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Media Contact Company Name: INITVERSE INNOVATION LABS LTD. Contact Person: Ronnie.Huang Email: Send Email [ http://www.universalpressrelease.com/?pr=initverse-launches-inichain-with-the-worlds-first-tfhebased-evm ] State: Dubai Country: United Arab Emirates Website: https://initverse.org/ This release was published on openPR.On Wednesday, all three major U.S. stock indexes reached unprecedented closing highs, spurred by a surge in technology shares following impressive results from Salesforce. Federal Reserve Chair Jerome Powell's encouraging remarks also provided a late boost to market sentiment. Powell noted the economy's strength since September, citing progress on inflation, influencing market perceptions positively. The Fed's Beige Book report corroborated this optimism with slight economic growth in most regions since October. Investors now anticipate another interest rate cut at the Federal Reserve's meeting in mid-December. Salesforce's performance, achieving an all-time intraday high, helped lift other cloud companies and drive the S&P 500 technology index to record levels. Additionally, Marvell Technology and other chipmaker stocks surged on improved revenue forecasts, with investors closely watching upcoming U.S. employment data for further insight. (With inputs from agencies.)