
What’s in store for bitcoin in 2025 as Donald Trump returns to the White House?Is anybody prepared to stand and fight Donald Trump? On Wednesday, Christopher Wray, the F.B.I. director whom Trump had vowed to fire as soon as he returned to the White House, announced that he would preëmptively quit in January, with nearly three years left in his ten-year term, rather than risk a public battle. Going out the door with him will be the crucial concept of a politically independent directorship, enshrined in law by Congress in the nineteen-seventies to protect against just such a scenario of a President seeking to install a partisan loyalist in the country’s most powerful law-enforcement post. “This is the best way to avoid dragging the Bureau deeper into the fray,” Wray said in a statement, “while reinforcing the values and principles that are so important to how we do our work.” He did not elaborate on how his self-defenestration would preserve the institution’s values and principles from the threats of its incoming director, the Trump loyalist Kash Patel , who said in an interview in September that his first act upon taking over the F.B.I. would be to shut down the agency’s main building “and reopen it the next day as a museum of the deep state.” Wray is hardly the only official to fold in the face of Trump’s early threats. On Capitol Hill this week, after days of attacks by a MAGA media mob, Senator Joni Ernst said that she would support Trump’s controversial nominee for Secretary of Defense, Pete Hegseth , through his confirmation process—a striking change in tone for the Iowa Republican, herself a military veteran and survivor of sexual assault who had previously expressed concerns about a Pentagon nominee who has said women should not serve in combat roles and has been accused of sexual assault, alcohol abuse, and financial mismanagement. For what it’s worth, it’s not yet clear that Ernst will ultimately vote for Hegseth, who has denied wrongdoing, though Senator Tom Cotton, a key Trump ally in the Senate, now predicts that all of Trump’s controversial nominees, including Hegseth, will be confirmed. What is clear is that bullying by Trump, or on his behalf, works. Just ask Mark Zuckerberg. This week, his company, Meta, made its first-ever donation to a Presidential Inauguration fund, chipping in a million dollars to Trump’s January celebration, despite—or, more likely, because of—Trump’s bashing Zuckerberg as “Zuckerschmuck” and attacking Meta’s platforms as biased against him. With Trump still riding a post-election high, some of the people and institutions that seem headed for an inevitable collision with the returning President have so far been remarkably wary of clapping back at him, even when presented with the most provocative of Trump’s insults. Consider the fight that Trump has already picked with Canada, threatening to impose tariffs of up to twenty-five per cent on its imports along with those of Mexico—a potentially crippling blow to both their economies. Earlier this week, Canada’s Prime Minister, Justin Trudeau, said that his country would “respond to unfair tariffs” but he had not yet figured out how—hardly a flaming insult. Nonetheless, Trump reacted to this by threatening to annex Canada as the fifty-first state and taunting the Canadian leader as “governor” in a social-media post. Trudeau, who often drew Trump’s ire in his first term as well, did not respond in kind. Instead, he was hard at work on a plan to mollify Trump’s concerns about the U.S.-Canada border, including adding police dogs and drones to a largely unmilitarized zone, apparently in hope of staving off Trump’s threatened tariffs. Some of Trump’s presumptive targets are not even waiting for his expected threats. At NATO headquarters in Brussels this week, word came that the alliance, which Trump had once threatened to leave entirely if member states did not start contributing more to their defense budgets, was considering a new target for members: spending three per cent of G.D.P. on defense each year, up from the current two-per-cent goal. The move, which would come at a time when the heightened threats to European security from Russia’s invasion of Ukraine require significant new military investment, appears to be an effort to preëmpt Trump’s inevitable demand for three-per-cent spending—an idea his advisers floated over the summer—and which he’ll likely take credit for anyway in the event that it happens. And why wait? Elbridge Colby, a former Trump Pentagon official reportedly in line for a senior post in his next Administration, went ahead and claimed the win even before any formal decision: Trump’s “common sense policy is getting results,” he posted on X, on Thursday. Are these all examples of preëmptive surrender—“ obeying in advance ,” as the Yale historian Timothy Snyder has put it—or is something more strategic going on here? As much as Trump loves being fawned over, the spectre of so many prospective rivals caving in so quickly creates its own sort of dilemma for a leader who craves conflict to sustain his Presidency and his political movement. Trump thrives on such fights, seeks them out, and where they do not exist, he will move swiftly to create them. Conflict is integral to who he is, as a person and as a politician. No doubt, there will come a point when at least some of those he has targeted, whether neighboring states whose economic health is threatened by his protectionist policies or government officials whose integrity and independence are compromised by his extralegal demands, push back. (Republican senators, maybe not so much.) Every lawyer in Washington, it seems, is preparing to fight the new Trump Administration in court if lobbying and favor-seeking don’t work out first. I suspect that much of what we’re seeing in the early response to Trump represents a collective conclusion that resistance to him eight years ago did little good, and often much harm, to those who did the resisting. The classic example of this was Angela Merkel, then the German Chancellor, whose statement congratulating Trump on his victory in 2016 essentially put Trump on notice that she would be watching for him to violate norms of democracy and common decency. Merkel, to no one’s surprise, became perhaps Trump’s least favorite Western leader. In 2024, it is entirely rational to conclude that lecturing Trump will hardly produce favorable results. It’s understandable, too, that many of his detractors are simply exhausted by the continual demands of standing against the man. And yet it’s striking how far many have pivoted to the other extreme. Is there no other course between going to war with Trump and accommodating him? There is also a widespread view that Trump is more bluster than bite. Eight years on, even many of the President-elect’s fiercest foes now recognize that he presents them with a unique blend of incendiary hyperbole and actual menace. They know he did not build the wall on America’s southern border or get Mexico to pay for it. So maybe better to wait and mobilize against the threats that Trump seems specifically willing to follow through on. And yet I can’t help but worry that this post-election transition to Trump’s second term is merely another moment when hope seems to be triumphing over experience—whether it’s backers of Ukraine looking for evidence, however scant, that Trump won’t abandon them to a deal with Russia on Vladimir Putin’s terms, or opponents of “Mass Deportation Now” who think it will simply be too costly and complicated for Trump to execute. Just this week, he said he wanted to pardon the insurrectionists who stormed the U.S. Capitol on his behalf four years ago—and to lock up the members of Congress who investigated the riot. Is it really such a good idea to believe he won’t try it? Don’t forget the reason Trump picks all these fights—because he wants to be a winner. Well, he’s beaten Chris Wray without a fight. Now what? For Trump 2.0, just as in all his previous incarnations, there will always be new enemies to slay. ♦ New Yorker Favorites A man was murdered in cold blood and you’re laughing ? The best albums of 2024. Little treats galore: a holiday gift guide . How Maria Callas lost her voice . An objectively objectionable grammatical pet peeve . What happened when the Hallmark Channel “ leaned into Christmas .” Sign up for our daily newsletter to receive the best stories from The New Yorker .Perimeter solutions director Cool Tracy Britt sells $640,500 in stock
Novo Nordisk, Super Micro Computer And Arm Are Among Top Large Cap Losers Last Week (December 16-20): Are The Others In Your Portfolio?Record Revenues as Global Logistics Network Expands WATERLOO, Ontario and ATLANTA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) announced its financial results for its fiscal 2025 third quarter ( Q3FY25 ). All financial results referenced are in United States ( US ) currency and, unless otherwise indicated, are determined in accordance with US Generally Accepted Accounting Principles ( GAAP ). "Our business has grown organically while we've added complementary solutions to our Global Logistics Network by way of acquisition,” said Edward J. Ryan, Descartes' CEO. "We listen to our customers about where best to invest to help them meet the many logistics and supply chain challenges they're facing, which contributed to us completing two acquisitions this past quarter. The global trade landscape remains highly uncertain and complex for our customers, especially with potential upcoming changes to tariffs and sanctions and the resulting impact on trade. As always, our goal is to help our customers manage this complexity so that they can continue to focus on their core businesses.” Q3FY25 Financial Results As described in more detail below, key financial highlights for Descartes' Q3FY25 included: The following table summarizes Descartes' results in the categories specified below over the past 5 fiscal quarters (unaudited; dollar amounts, other than per share amounts, in millions): FY25 FY25 FY25 FY24 FY24 As described in more detail below, key financial highlights for Descartes' nine-month period ended October 31, 2024 ( 9MFY25 ) included: At October 31, 2024, Descartes had $181.3 million in cash. Cash decreased by $71.4 million in Q3FY25 and $139.7 million in 9MFY25. The table set forth below provides a summary of cash flows for Q3FY25 and 9MFY25 in millions of dollars: On September 17, 2024, Descartes acquired all of the shares of Assure Assist, Inc., doing business as MyCarrierPortal ("MCP”), a leading provider of carrier onboarding and risk monitoring solutions for the trucking industry. The purchase price for the acquisition was approximately $22.5 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $6.0 million based on MCP achieving revenue-based targets over the first two years post-acquisition. Acquisition of Sellercloud On October 11, 2024, Descartes acquired all of the shares of Sellercloud LLC and certain assets of Sellercloud Europe Ltd. (collectively referred to as "Sellercloud”), a leading provider of omnichannel ecommerce solutions. The purchase price for the acquisition was approximately $110.2 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $20.0 million based on Sellercloud achieving revenue-based targets over the first two years post-acquisition. Conference Call Members of Descartes' executive management team will host a conference call to discuss the company's financial results at 5:30 p.m. ET on Tuesday, December 3, 2024. Designated numbers are +1 289 514 5100 and +1 800 717 1738 for Toll-Free in North America, using conference ID 07584. The company will simultaneously conduct an audio webcast on the Descartes website at www.descartes.com/descartes/investor-relations. Phone conference dial-in or webcast login is required approximately 10 minutes beforehand. Replays of the conference call will be available until December 10, 2024, by dialing +1 289 819 1325 or Toll-Free for North America using +1 888 660 6264 with Playback Passcode: 07584#. An archived replay of the webcast will be available at www.descartes.com/descartes/investor-relations. About Descartes Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com , and connect with us on LinkedIn and X (Twitter ) . Descartes Investor Contact Laurie McCauley (519) 746-2969 [email protected] Cautionary Statement Regarding Forward-Looking Statements This release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relates to Descartes' expectations concerning future revenues and earnings, and our projections for any future reductions in expenses or growth in margins and generation of cash; our assessment of the potential impact of geopolitical events, such as the ongoing conflict between Russia and Ukraine (the "Russia-Ukraine Conflict”), and between Israel and Hamas ("Israel-Hamas Conflict”), or other potentially catastrophic events, on our business, results of operations and financial condition; continued growth and acquisitions including our assessment of any increased opportunity for our products and services as a result of trends in the logistics and supply chain industries; rate of profitable growth and Adjusted EBITDA margin operating range; demand for Descartes' solutions; growth of Descartes' Global Logistics Network ("GLN”); customer buying patterns; customer expectations of Descartes; development of the GLN and the benefits thereof to customers; and other matters. These forward-looking statements are based on certain assumptions including the following: global shipment volumes continuing at levels generally consistent with those experienced historically; the Russia-Ukraine Conflict and Israel-Hamas Conflict not having a material negative impact on shipment volumes or on the demand for the products and services of Descartes by its customers and the ability of those customers to continue to pay for those products and services; countries continuing to implement and enforce existing and additional customs and security regulations relating to the provision of electronic information for imports and exports; countries continuing to implement and enforce existing and additional trade restrictions and sanctioned party lists with respect to doing business with certain countries, organizations, entities and individuals; Descartes' continued operation of a secure and reliable business network; the stability of general economic and market conditions, currency exchange rates, and interest rates; equity and debt markets continuing to provide Descartes with access to capital; Descartes' continued ability to identify and source attractive and executable business combination opportunities; Descartes' ability to develop solutions that keep pace with the continuing changes in technology, and our continued compliance with third party intellectual property rights. These assumptions may prove to be inaccurate. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Descartes, or developments in Descartes' business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, Descartes' ability to successfully identify and execute on acquisitions and to integrate acquired businesses and assets, and to predict expenses associated with and revenues from acquisitions; the impact of network failures, information security breaches or other cyber-security threats; disruptions in the movement of freight and a decline in shipment volumes including as a result of contagious illness outbreaks; a deterioration of general economic conditions or instability in the financial markets accompanied by a decrease in spending by our customers; the ability to attract and retain key personnel and the ability to manage the departure of key personnel and the transition of our executive management team; changes in trade or transportation regulations that currently require customers to use services such as those offered by Descartes; changes in customer behaviour and expectations; Descartes' ability to successfully design and develop enhancements to our products and solutions; departures of key customers; the impact of foreign currency exchange rates; Descartes' ability to retain or obtain sufficient capital in addition to its debt facility to execute on its business strategy, including its acquisition strategy; disruptions in the movement of freight; the potential for future goodwill or intangible asset impairment as a result of other-than-temporary decreases in Descartes' market capitalization; and other factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada, including Descartes' most recently filed Management's Discussion and Analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with GAAP. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with GAAP. We believe that current shareholders and potential investors in our company use non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues, in making investment decisions about our company and measuring our operational results. The term "Adjusted EBITDA” refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). Adjusted EBITDA as a percentage of revenues divides Adjusted EBITDA for a period by the revenues for the corresponding period and expresses the quotient as a percentage. Management considers these non-operating expenses to be outside the scope of Descartes' ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues should not be construed as a substitute for net income determined in accordance with GAAP or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues does have limitations. In particular, we have completed seven acquisitions since the beginning of fiscal 2024 and may complete additional acquisitions in the future that will result in acquisition-related expenses and restructuring charges. As these acquisition-related expenses and restructuring charges may continue as we pursue our consolidation strategy, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations. The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for Q3FY25, Q2FY25, Q1FY25, Q4FY24, and Q3FY24, which we believe is the most directly comparable GAAP measure. Condensed Consolidated Balance Sheets (US dollars in thousands; US GAAP; Unaudited)
Brijesh Singh advocates collaboration of AI and journalism
Vancouver duo keeps it real as Canada's 1st female-led top 40 morning radio showWASHINGTON (AP) — Dayan Nessah scored 19 off the bench to help lead George Washington past Virginia-Wise 102-62 on Sunday. Nessah shot 8 for 9, including 3 for 4 from beyond the arc for the Revolutionaries (11-2). Rafael Castro added 14 points while shooting 6 of 8 from the field and 2 for 3 from the line while they also had 14 rebounds. Darren Buchanan Jr. had 14 points and shot 5 of 10 from the field and 4 for 6 from the line. Bradley Dean led the Highland Cavaliers with 17 points. Lav Cvetkovic' added 14 points and two steals. Zy'Ever Wingfield also had nine points, seven rebounds and two steals. George Washington took the lead with 19:17 remaining in the first half and never looked back. The score was 40-27 at halftime, with Buchanan racking up 12 points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
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