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Protest over Bihar PSC exam paper leak, police lathi charge job aspirantsSecret documents show that then taoiseach Albert Reynolds sought to rely on “custom and practice” to explain the controversial appointment of Attorney General Harry Whelehan as a High Court judge in 1994. State papers released by the National Archives under the 30-year rule offer insight into the political controversy that would lead to the collapse of the Fianna Fáil-Labour coalition government after just two years in power. They reveal how Mr Reynolds sought to justify pushing ahead with Whelehan’s appointment as a judge, despite the move being opposed by Labour leader, Dick Spring. The government ratified his formal nomination at a Cabinet meeting on November 11, 1994, which was not attended by his coalition partner’s ministers. Paedophile priest The Attorney General had been under criticism at the time over his mishandling of the extradition of a notorious paedophile priest, Fr Brendan Smyth, to Northern Ireland to face child abuse charges. Whelehan had claimed the delay in extraditing Smyth was due to the fact that it was the first case of its type that was covered by new legislation. Beef Tribunal and the X Case The former Attorney General had already been involved in a number of other controversies in his role as the government’s top legal advisor, including his intervention in the Beef Tribunal to prevent minister Ray Burke from being questioned about Cabinet discussions on the beef industry on grounds of breaching Cabinet confidentiality. Whelehan had also sought an injunction in 1992 to prevent a teenager who was pregnant after being raped from travelling to Britain for an abortion in what became known as the X Case. Fr John Duggan case Following his appointment to the High Court, however, his replacement as Attorney General, Eoghan Fitzsimons, dropped a bombshell when he revealed that there had been a previous similar case to Fr Brendan Smyth in 1992 which had been personally dealt with by Whelehan. Mr Reynolds accused Whelehan of seriously misleading the government and stated he would not have proposed or supported his appointment to the judiciary if he had been aware of the earlier case which related to Fr John Duggan. Collapse of coalition Although the taoiseach expressed regret at the appointment in an attempt to repair relations with Labour, Mr Spring collapsed the coalition and formed a new government with Fine Gael and Democratic Left, while Whelehan resigned as a judge a few days later after coming under intense pressure to relinquish his post. Newly-released State papers show that a senior civil servant advised the taoiseach that Whelehan’s appointment could be explained on the basis that it was “custom and practice” by referencing a long-standing tradition of appointing former attorney generals to the judiciary. Records showed that 14 out of the 22 attorney generals in the history of the State had gone on to take up judicial roles. They reveal that in preparation for a Dáil confidence debate on November 16 and 17, 1994, Mr Reynolds was advised to emphasise the historical precedent for such appointments. Draft speech notes prepared for him included references to briefing materials dating back to the tenure of Éamon de Valera with regard to the promotion of an attorney general. Mr Reynolds said he had relied on a briefing note prepared by the government secretary which had in fact first been drawn up when his predecessor was taoiseach and which had been “carried forward in that format and context for almost forty years”. The Fianna Fáil leader said the real point what not what the briefing note said “but the custom and practice which has operated since the foundation of the State”. The draft note concluded with the Latin phrase: “Res ipsa loquitur” which translates as “the thing speaks for itself”.
Ex-Rep. Matt Gaetz Friday ruled out a possible return to Congress after dropping his bid to become President-elect Trump’s attorney general. The former Florida lawmaker told a right-wing podcast that he wouldn’t try to walk back his resignation from the deep-red seat that he recently won in a reelection landslide despite the implosion of his nomination amid sex-and-drug accusations. “I’m still going to be in the fight, but it’s going to be from a new perch but I do not intend to join the 119th Congress,” Gaetz told podcast host Charlie Kirk on Real America’s Voice. Gaetz, 42, praised the Republicans jostling for a chance to take his spot on Capitol Hill and called it “a pretty poetic time to allow that great new blood to come in.” The four-term Republican said he has “other goals in life,” without elaborating. “I’m going to be fighting for President Trump,” Gaetz said. “I’m going to be doing whatever he asks of me, as I always have. But I think that eight years is probably enough time in the United States Congress.” Gaetz, one of Trump’s most vocal supporters, resigned from Congress last week at the same day as Trump nominated him to be attorney general. Many interpreted the unusual move as a ploy to avoid the planned release of a damning House Ethics Committee report into drug and sex abuse allegations. At least two young women told the panel they were paid by Gaetz for sex at drug-fueled parties in Florida and during vacation jaunts. One was only 17 and a high school student at the time. He pulled the plug on his bid as more lurid allegations surfaced and GOP senators told him he couldn’t win confirmation. It’s unclear whether the report will ever be released now that he is no longer a member of Congress and no longer vying to be attorney general. Trump quickly moved to nominate former Florida Attorney General Pam Bondi in his place, a pick that drew favorable responses from GOP lawmakers and analysts. Gaetz could make a run for governor of the Sunshine State in 2026 when Gov. Ron DeSantis will be barred by term limits from running again. Some of Gaetz’s supporters have mentioned him as a possible candidate to be appointed to fill the soon-to-be-vacant U.S. Senate seat now held by Marco Rubio, who has been nominated for Secretary of State. DeSantis, who will make that pick, has kept quiet about who might be on his short list.Higher property taxes, chance of reduced snow plowing in Winnipeg budget plan WINNIPEG — Winnipeg is eyeing the largest property tax increase in decades and considering a cut to snow plowing in an attempt to address a fiscal squeeze. The city's preliminary budget for next year proposes a 5. Steve Lambert, The Canadian Press Dec 11, 2024 1:02 PM Dec 11, 2024 1:05 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Winnipeg Mayor Scott Gillingham speaks in Winnipeg on Dec. 1, 2022. THE CANADIAN PRESS/John Woods WINNIPEG — Winnipeg is eyeing the largest property tax increase in decades and considering a cut to snow plowing in an attempt to address a fiscal squeeze. The city's preliminary budget for next year proposes a 5.95 per cent hike in property taxes, following an increase of 3.5 per cent in the last budget. It also recommends a pilot project that would see residential streets cleared after a snowfall of at least 15 centimetres — up from the current 10-centimetre threshold. The preliminary budget also calls for spending restraint and job-vacancy management to find $50 million in savings. It includes more spending on public safety, such as hiring 36 new police officers over two years and 24 new firefighters. There is also $1 million for community-based crime prevention through youth recreation programming in high-needs neighbourhoods. Mayor Scott Gillingham has said the city's revenues have not been keeping up with population growth and rising costs due to inflation. His office recently commissioned an opinion poll that gauged people's thoughts on possible new taxes on items ranging from liquor to vacant buildings — all of which would need provincial approval. "Our fiscal model, compared to many other cities, is outdated and doesn't grow with the economy, population or inflation," reads the preliminary budget, released Wednesday. "Unlike Regina and Saskatoon, Winnipeg doesn’t have a growth-revenue sharing agreement. Cities like Halifax, Quebec City, Toronto and Metro Vancouver have provincial support to explore fairer tax options beyond property taxes — something Winnipeg is currently unable to do." Last month's poll by Probe Research had 56 per cent of respondents agreeing with the idea that the city needs money from sources other than property taxes, fees and grants. About four in 10 respondents said extra funds from the provincial government would be the best way to get new money, while about one in six said new municipal taxes. This report by The Canadian Press was first published Dec. 11, 2024. Steve Lambert, The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More The Mix What happens next with Alex Jones' Infowars? No certainty yet after sale to The Onion is rejected Dec 11, 2024 1:51 PM S&P/TSX composite up more than 150 points, U.S. stock markets mixed Dec 11, 2024 1:38 PM Banks lower prime rates following Bank of Canada move Dec 11, 2024 1:37 PM Featured Flyer
Long waiting lists for NHS weight loss services ‘driving unsafe buying of jabs’( MENAFN - EIN Presswire) Pro Service Mechanical Logo Furnace Repair Services Saskatoon Saskatoon Furnace Repair Pro Service Mechanical strengthens its heating system emergency response capabilities to provide critical support during urgent situations. SASKATOON, SASKATCHEWAN, CANADA, December 25, 2024 /EINPresswire / -- Pro Service Mechanical, a trusted provider of mechanical services in Saskatoon, Saskatchewan, announces a significant enhancement to its heating system emergency response team. This strategic improvement demonstrates the company's commitment to addressing urgent heating challenges that can critically impact residential and commercial properties during Saskatchewan's challenging winter conditions. Heating system failures can occur unexpectedly, potentially leading to significant property damage and operational disruptions. 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EL SEGUNDO, Calif. (AP) — Justin Herbert is dealing with an ankle injury for the second time this season. The Chargers quarterback did not practice Wednesday as Los Angeles began preparations for its game Sunday against Tampa Bay. Herbert injured his left ankle during the first quarter of last Sunday's 19-17 loss at Kansas City. Herbert said Wednesday that the injury occurred during a 7-yard scramble on third down during the opening drive. Television cameras showed him grimacing and walking slowly to the sideline after the play. “It was difficult to play with," he said. "It was one of those things where we limited some of the runs out of the pocket. I didn't feel great, but it was one of those things to play through.” Herbert's left leg was later bruised after taking a hard hit from linebacker Nick Bolton during the second quarter. Herbert missed only one play and completed 21 of 30 passes for 213 yards and a touchdown. “The contusion, I think that is something that is easily recoverable. I'm doing everything I can with the ankle,” Herbert said. “If I felt like I could have practiced at 100% and make sure everyone was able to get full-speed reps, I would have. I didn't think I was able to do that today, so the trainers and I were on the same page.” Herbert suffered a high sprain to his right ankle during the third quarter of a 26-3 win at Carolina on Sept. 15. That limited his mobility and some of the play calls in losses to Pittsburgh and Kansas City the next two games. However, Herbert is not in a walking boot this time, which was the case with the injury earlier in the season. The fifth-year quarterback also said the pain tolerance with his ankle injury is better to deal with compared to the earlier one. “I’d like to see him get treatment and not be on his feet. He will do everything in his power to play on Sunday,” coach Jim Harbaugh said. The Chargers have lost two of their last three, but are the sixth seed in the AFC with an 8-5 record. After facing NFC South-leading Tampa Bay on Sunday, Los Angeles hosts Denver in a Thursday night matchup on Dec. 19 as both teams are vying for a playoff spot. It's the second time in three seasons Herbert is dealing with an injury after a game at Kansas City. In 2022, he fractured rib cartilage after taking a hard hit from Chiefs defensive lineman Michael Danna during the fourth quarter. Herbert missed two weeks during training camp because of an injury to the plantar fascia in his right foot. He also had a torn labrum in his non-throwing shoulder near the end of the 2022 season and two broken fingers last year, including one on his throwing hand that caused him to miss the final four games. Herbert has joined Tom Brady as the only players who have not thrown an interception in 11 straight games with a minimum of 15 attempts in each game. Brady accomplished the feat with New England in 2010. The last time Herbert was picked off was midway through the first quarter on Sept. 15 by Carolina’s Jaycee Horn. Herbert has also gone 335 consecutive pass attempts without an interception, the fifth-longest streak in league history. ___ AP NFL: https://apnews.com/hub/nfl Joe Reedy, The Associated Press
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Revolutionary Single-Layer Film Eliminates Helmet Changes, Enhancing Driver Safety and Performance LAS VEGAS , Dec. 11, 2024 /PRNewswire/ -- Racing Optics®, the global leader in high-performance tearoff visor film technology, proudly unveils its latest innovation: the Twilight Tearoff . This groundbreaking single-layer tearoff is engineered to elevate driver visibility during late-afternoon and early-evening races, providing superior glare reduction and contrast enhancement. The Twilight Tearoff redefines race-day performance by allowing drivers to maintain focus and adapt seamlessly to changing light conditions, eliminating the need for disruptive helmet changes. This innovation represents a significant leap forward in racing vision technology, delivering immediate and measurable benefits to professional drivers and teams alike. "The Twilight Tearoff solves one of racing's most persistent challenges—ensuring optimal visibility as lighting transitions rapidly during twilight races," said Chris Colton , Chief Applications Engineer at Racing Optics . "Our dedication to driver safety and performance drives every innovation, and the Twilight Tearoff is no exception." Transforming Racing at Twilight Racing teams are already embracing the Twilight Tearoff as a game-changing solution for twilight and low-light racing conditions. One racing team manager shared their experience: "In a recent twilight race, the Twilight Tearoff gave our drivers unmatched visual clarity. Transitioning from glaring sunlight to artificial lighting without pausing to change helmets was a decisive advantage that kept us competitive." By streamlining the driver experience, the Twilight Tearoff enhances safety and helps maintain uninterrupted race momentum—a critical edge in the high-stakes world of motorsports. Exclusive Debut at PRI Show 2024 The Twilight Tearoff will make its debut at the Performance Racing Industry (PRI) Show , held December 12–14, 2024, in Indianapolis, Indiana . This highly anticipated event marks Racing Optics' 25th anniversary , celebrating a legacy of trailblazing innovations in motorsports safety and performance. Availability The Twilight Tearoff is now available for purchase at RacingOptics.com and through authorized dealers. Teams and drivers looking to gain a competitive edge are encouraged to explore this latest advancement. About Racing Optics For 25 years, Racing Optics has led the field in racing vision technology, delivering innovative solutions that enhance safety and performance. With a commitment to collaboration and innovation, the company continues to push the boundaries of motorsports protective equipment. For additional information, please visit RacingOptics.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/racing-optics-introduces-game-changing-twilight-tearoff-to-enhance-visibility-in-low-light-racing-conditions-302329546.html SOURCE Racing Optics, Inc. Stay Informed: Subscribe to Our Newsletter Today
As federal agencies prepare for the change in administration, agency action continues at a rapid pace―including several recent AI-related measures by the U.S. Department of Commerce and U.S. Office of the Director of National Intelligence (“ODNI”). In late November, the Department of Commerce’s Artificial Intelligence Safety Institute (“AISI”) established a new taskforce to research and test AI models in areas critical to national security and public safety, while ODNI released guidance on the acquisition and use of foundation AI models. AISI’s Testing Risks of AI for National Security (“TRAINS”) Taskforce is intended to operationalize the requirements set out in October’s National Security Memorandum on AI (“AI Memo”), pursuant to Executive Order (“EO”) 14110 and advance the “whole-of-government approach to AI safety.” Together, the AI Memo and EO 14110 direct the national security (and adjacent) agencies to, broadly, responsibly advance the government’s AI capabilities and develop an AI governance framework. According to the Department of Commerce , TRAINS will bring together a range of stakeholders to collaborate on identifying, measuring and managing the developing impacts of AI on national security and public safety domains. Relevant areas include radiological and nuclear, chemical and biological, cybersecurity, critical infrastructure, conventional military capabilities and others. Initial representation on the taskforce will include members of the Department of Defense, Department of Energy and ten of its National Laboratories, Department of Homeland Security including the Cybersecurity and Infrastructure Security Agency, and National Institutes of Health at the Department of Health and Human Services. The taskforce is just one of many initiatives stemming from the White House AI Memo and EO 14110 . The AISI, housed under the National Institute of Standards and Technology, plays a key role in a number of AI and national security related measures. In response to continuing obligations under a less recent directive that remains critical to the data protection and national security space, EO 12333, ODNI issued the Common Intelligence Community Interim Guidance Regarding the Acquisition and Use of Foundation AI Models (“Interim Guidance”). The Interim Guidance is intended to enable the intelligence community (“IC”) to lawfully conduct intelligence activities in the era of powerful AI in response to the directives of EO 14110 and the AI Memo. ODNI reiterates that the IC is authorized to collect, retain and disseminate U.S. person information for approved purposes under EO 12333, but must consider the implications of doing so via AI foundation models, which process massive amounts of commercially available and other information, and were not the type of technology initially considered when EO 12333 was developed. The guidance sets out relevant parameters and definitions for doing so, including: when a foundation model is considered to be “acquired” by the IC ( i.e. , hosted or accessed in a manner different than what is available to the general public); considerations for modifying or augmenting an acquired foundation model ( i.e. , following all existing legal and policy limitations such as the Foreign Intelligence Surveillance Act); and considerations for foundation model prompts and retention of outputs. The Interim Guidance clarifies that “acquiring” a foundation model does not necessarily mean the IC is acquiring the training data, but this depends on the facts and circumstances. The guidance directs the IC to refer to protections and principles in existing frameworks and guidance, specifically naming documents such as the Framework to Advance AI Governance and Risk Management in National Security. As we discussed in previous coverage of this topic, while early activities under the AI Memo and EO 14110 will tend to more immediately impact the government sector, the private sector is already involved at certain levels in coordinating with government stakeholders as efforts continue to develop in this area. Additionally, though the administration change may impact the contours of AI governance, companies supplying AI models to the IC or government more broadly may encounter an increasingly complex set of considerations during the procurement process as well.Neonatal Ventilators Market Size: Strong Growth Ahead (2024-2032)Former President Bill Clinton, during an appearance on ABC's "The View" on Wednesday, indicated he hopes President Joe Biden will not preemptively pardon people who could be targeted by the incoming administration of President-elect Donald Trump, including Clinton's wife, former Secretary of State Hillary Clinton. "If President Biden wanted to talk to me about that, I would talk to him about it. But I don't think I should be giving public advice on the pardon power. I think it's too -- it's a very personal thing, but it is -- I hope he won't do that," Clinton said. "Most of us get out of this world ahead of where we'd get if all we got was simple justice. And so it's normally a fool's errand. You spend a lot of time trying to get even," he added. President Biden and his senior aides have been discussing possible preemptive pardons for people who might be targeted by the new Trump administration, according to a source close to the president. Experts have told ABC News he has the power to do so under the Constitution. Clinton emphasized that he does not believe any potential charges from the incoming Trump administration brought against Hillary Clinton would be valid, arguing that she did not do anything wrong with her handling of emails during her time at the State Department -- a controversy which became a flashpoint late in the 2016 election cycle. Asked separately about his recent comments that a Republican could be more likely to be the first female president, Clinton said, "The impulse to say a woman probably shouldn't be president comes more from the right than from the left -- in the brain -- and it's an impulsive thing." He also surmised that voters are not always looking toward how much experience a politician had, because of how they're focused on day-to-day issues. "If you're an alienated voter and you're genuinely worried about your family's financial security or your personal security, then the last thing you want is somebody who's well qualified ... if you think the total sum of impact of government action is negative, then you may not want somebody who's well qualified," Clinton said. MORE: As Biden considers preemptive pardons, experts he has constitutional right "And that's the danger we're at now, because it actually does matter if you know things." Asked about what may happen after Trump's victory, Clinton emphasized that Trump won fairly. "So, I think what we have to do is to observe a peaceful transfer of power, stand up for what we believe, and work together when we can," Clinton said. "I do not think we should just be jamming them, even though they do that to us a lot. I think it's a mistake," he added. During the 2024 campaign cycle, Bill Clinton campaigned for Vice President Kamala Harris, serving as a key surrogate sent to rural areas and to speak with working-class voters. Asked how Democrats can win back working-class voters who have been shifting to support Republicans, Clinton said that he feels part of the challenge is "cultural," as rural voters skewer more conservative and are dealing with things they are not used to. "The world moves on, and things that once made sense to people don't anymore," he said. "The world moves on, and things that once made sense to people don't anymore. Things that should make sense don't anymore." MORE: Democratic governors discuss going on offense, playing defense against Trump "We need to quit screaming at each other and listen to each other. We need to have a serious conversation about these things. And I think one of the things that Democrats sometimes do is give up on too many people, because the demographics say they're not going to be for it," Clinton said. "Well, that may be, but you know, if you don't deal with something that's controversial, just because you don't want to hear it, that's like an insult to voters." Clinton has devoted time to charitable and health causes since his presidency, and his memoir "Citizen: My Life After the White House" released in November. "First, it was fun, and secondly, it was important," Clinton said of his charitable work. "And thirdly, I could do it. And it didn't matter if the president was Barack Obama or George Bush, we just did things that human beings needed."
Emanuel Wallace, 27, from east London, is better known as Big Manny by his 1.9 million followers on TikTok, where he shares videos explaining various science experiments from his back garden while using Jamaican Patois phrases and London slang. In early December, Mr Wallace won the Education Creator of the Year award at the TikTok Awards ceremony, which he said is a “symbol that anything that you put your mind to you can achieve”. The content creator began making videos during the coronavirus pandemic when schools turned to online learning but has since expanded his teaching from videos to paper after releasing his debut book Science Is Lit in August. He believes his “unconventional” teaching methods help to make his content relatable for younger audiences by using slang deriving from his Jamaican and British heritage. “The language that I use, it’s a combination between Jamaican Patois and London slang because I have Jamaican heritage,” the TikToker, who holds a bachelors and masters degree in biomedical science, told the PA news agency. “That’s why in my videos sometimes I might say things like ‘Wagwan’ or ‘you dun know’. I just want to connect with the young people more, so I speak in the same way that they speak. “The words that I use, the way that I deliver the lesson as well, I would say that my method of teaching is quite unconventional. I speak in a way that is quite conversational.” Examples of his videos include lithium batteries catching fire after being sandwiched inside a raw chicken breast, as well as mixing gold with gallium to create blue gold, earning millions of views. Mr Wallace hopes his content will help make the science industry more diverse, saying “the scientists that I was taught about, none of them look like me”. “Now me being a scientist is showing young people that they can become one as well, regardless of the background that they come from, the upbringing that they’ve had,” he said. “I just want to make it seem more attainable and possible for them because if I can do it, and I come from the same place as you, there’s no reason why you can’t do it as well.” The TikToker has seen a shift in more young people turning to the app as a learning resource and feels short-form videos will soon become a part of the national curriculum in schools. “I’m seeing (young people) using that a lot more – social media as a resource for education – and I feel like in the future, it’s going to become more and more popular as well,” he said. “I get a lot of comments from students saying that my teacher showed my video in the classroom as a resource, so I feel like these short form videos are going to be integrated within the national curriculum at some point in the near future.” He also uses his platform to raise awareness of different social issues, which he said is “extremely important”. One of his videos highlighted an anti-knife campaign backed by actor Idris Elba, which earned more than 39 million views, while his clip about the banning of disposable vapes was viewed more than 4.6 million times. He said there is some pressure being a teacher with a large following online but hopes he can be a role model for young people. “I’m aware that I am in the public eye and there’s a lot of young people watching me,” he said. “Young people can be impressionable, so I make sure that I conduct myself appropriately, so that I can be a role model. “I always have the same message for young people, specifically. I tell them to stay curious. Always ask questions and look a little bit deeper into things.” His plans for 2025 include publishing a second Science Is Lit book and expanding his teaching to television where he soon hopes to create his own science show.
The Ministry of Human Resources and Emiratisation (MoHRE) on Wednesday, December 25, renewed its call to private sector firms to meet their Emiratisation targets by Tuesday, December 31. Firms with 50 or more employees are required to increase the emiratisation of skilled positions by 2 percent by end of this year. The same deadline applies to certain smaller establishments, with 20 to 49 employees, in rapidly growing economic sectors. These firms must hire at least one UAE citizen and retain any Emiratis already employed before January 1, 2024. More than 124,000 Emiratis are currently employed in the private sector while over 23,000 establishments have succeeded in achieving their Emiratisation targets. MoHRE has urged establishments to utilize the Nafis platform to connect with Emirati job seekers across various specializations, thereby aiding them in achieving their targets. Calling all our partners in the private sector.. 31 December is the deadline to meet 2024 Emiratisation targets for Establishments included in the decision. The Emiratisation targets apply to establishments with 50 or more employees, which must achieve a 2% increase in the... pic.twitter.com/SPmqlQoSSF It emphasised its monitoring system’s effectiveness in detecting fraudulent practices, imposing penalties such as classification system downgradation and Dirham 96,000 fines for non-compliance. The MoHRE urged Emirati job seekers to verify job offers’ legitimacy to prevent fraudulent activities and to report any Emiratisation policy violations via the MoHRE call centre or its app.
Trump-Musk now making amends? After spat between Musk and MAGA supporters, Trump backs Tesla CEO's support for H-1B visa program
(Bloomberg) -- The US government’s debt load is now seen as the biggest risk to financial stability, outweighing persistent inflation in a Federal Reserve survey. Most Read from Bloomberg NYC's Underground Steam System May Be Key to a Greener Future NYC Gets Historic Push for 80,000 Homes With $5 Billion Pledge Trump Promises Could Have Seismic Impact on Washington Economy In Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the Field NYC Mayor Adams Names Jessica Tisch to Lead Police Head Amid Probes “Concerns surrounding US fiscal debt sustainability were atop the list this survey, followed by escalating tensions in the Middle East and policy uncertainty,” the Fed said in its semi-annual financial stability report. The report includes a survey of the Fed’s financial-market contacts conducted from late August to late October by New York Fed staff members. It also includes the central bank’s assessment of developing risks in four main areas, including asset valuations, borrowing by businesses and households, leverage in the financial sector and funding risks. More than half the respondents — 54% — cited fiscal debt sustainability as a salient risk, up from 40% just a half year ago. More debt issuance by the Treasury could start to crowd out private investment or limit policy responses if there’s an economic slump, the survey found. The banking sector remained “sound and resilient overall,” with capital ratios hovering around record levels and high liquidity, the Fed said. But in financial markets, the Fed found valuations remain elevated, liquidity “generally low” and leverage across hedge funds at or near the highest level observed since data became available in 2013. The central bank also singled out life insurers for a steady decline in the liquidity of their assets amid greater use of alternative investments. Taking a look at households, the Fed said credit card and auto loan delinquencies were above average, especially among those with lower credit scores. Overall, they judged vulnerabilities related to household and business debt as “moderate.” “These borrowers hold a relatively small share of aggregate debt, and their high delinquency rates reportedly reflect, in part, more borrowing by some households during and after the pandemic, rather than an abrupt broad-based weakening in households’ ability to repay,” the report said. Stablecoin Status The central bank said funding risks have eased but remain “notable.” The report flagged that stablecoin assets “grew substantially” since the prior report and had a total market capitalization of more than $170 billion by the beginning of November — a notch below a record high seen in April 2022. “These digital assets are structurally vulnerable to runs and lack a comprehensive federal prudential regulatory framework,” the Fed said. The new report arrives shortly after the US presidential election, which has already had a big impact on most corners of US financial markets as investors expect less regulation and possibly bigger deficits from the incoming administration. Bitcoin, following an embrace by President-elect Donald Trump, skyrocketed to near $100,000 a token. The S&P 500 and the tech-heavy Nasdaq 100 have been hitting new records, while Treasuries have been selling off as a resilient economy prompted investors to pare expectations of aggressive interest-rate cuts by the Fed. With an eye on last year’s bank failures, the Fed said that most lenders were relying less on uninsured deposits. Those tend to attract customers who might quickly yank their money away if there’s a hint of trouble at a lender, a vulnerability that contributed to bank failures in the weeks surrounding the March 2023 turmoil. Some lenders have now increased deposits collected through brokers and from other short-term sources of cash, according to the report. “The stability of this type of funding during periods of stress may be lower than that of traditional core insured deposits,” the Fed said. --With assistance from Vildana Hajric and Ye Xie. (Updates with sector assessments starting in the third paragraph.) Most Read from Bloomberg Businessweek What Happens When US Hospitals Go Big on Nurse Practitioners Clear’s Dominance in Airports Could Be Coming to an End An Airline’s Florida Resort Dreams Look More Like a Nightmare Why the Flying Experience Feels So Much Worse Jaylen Brown Is Taking On Nike With $200 Sneakers ©2024 Bloomberg L.P.MISSISSAUGA, Ontario--(BUSINESS WIRE)--Dec 10, 2024-- VIQ Solutions Inc. (“ VIQ ”, “ VIQ Solutions ” or the “ Company ”) (TSX: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announces the retirement of Susan Sumner as Chief Operating Officer and President of the Company. Ms. Sumner will continue as a part-time advisor to the Company until January 31, 2025. In connection with her retirement, Ms. Sumner has informed the Company that she will resign from her director position on the board of directors of the Company (the “ Board ”) as of January 31, 2025. Ms. Sumner has served as Chief Operating Officer of VIQ since July 2018, President of VIQ since February 2021, and has been a member of the Board since April 2022. Sebastien Pare, Chief Executive Officer and Director of VIQ stated: “It has been an honor and a privilege to have worked with Susan over the last number of years. Over the years, Susan has offered a lot of time, effort and encouragement while performing her roles at the Company and has been part of moving VIQ forward throughout her time with us. All of us at VIQ thank Susan for her contributions to our success over the years.” For more information about VIQ, please visit viqsolutions.com . About VIQ Solutions VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost. Forward-looking Statements Certain statements included in this press release constitute forward-looking statements or forward-looking information (collectively, “forward-looking statements”) under applicable securities legislation. Such forward- looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking statements (typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur). These statements are only predictions. Forward-looking statements in this press release include but are not limited to statements with respect to finding a replacement for Susan Sumner. Forward-looking statements are based on several factors and assumptions which have been used to develop such statements, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Company’s annual information form and in the Company’s other materials filed on SEDAR+ at www.sedarplus.ca . These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Such estimates and assumptions may prove to be incorrect or overstated. The forward-looking statements contained in this press release are made as of the date of this press release and the Company expressly disclaims any obligations to update or alter such statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241210682802/en/ CONTACT: Jacob Manning VIQ Solutions Email:marketing@viqsolutions.com KEYWORD: UNITED STATES NORTH AMERICA CANADA INDUSTRY KEYWORD: OTHER PROFESSIONAL SERVICES SECURITY DATA MANAGEMENT LEGAL OTHER COMMUNICATIONS PUBLISHING TECHNOLOGY AUDIO/VIDEO CONSULTING ADVERTISING COMMUNICATIONS PROFESSIONAL SERVICES ARTIFICIAL INTELLIGENCE TELECOMMUNICATIONS SOFTWARE NETWORKS SOURCE: VIQ Solutions Inc. Copyright Business Wire 2024. PUB: 12/10/2024 05:30 PM/DISC: 12/10/2024 05:30 PM http://www.businesswire.com/news/home/20241210682802/en
CHICAGO , Dec. 23, 2024 /PRNewswire/ -- Katten announced today that the firm advised CleanSpark Inc. on a $650 million convertible senior notes offering. Mark Wood , Partner and Co-Chair of the Capital Markets practice, led the Katten team that advised the company in connection with its offering of $650 million aggregate principal amount of 0.00% convertible senior notes due 2030. The notes were sold to the initial purchasers, led by Cantor Fitzgerald & Co. as Lead Book-Running Manager, in a private offering for resale to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act). The issuance and sale of the notes closed on December 17, 2024 . In connection with the pricing of the notes, CleanSpark entered into capped call transactions with various counterparties and repurchased approximately $145 million of its common stock. ICR Capital LLC served as financial advisor to CleanSpark in connection with this offering. "We congratulate our client CleanSpark on successfully completing its first-ever 144A convertible notes offering," Wood said. "It has been a privilege to work alongside the CleanSpark team as it has led CleanSpark's growth in the bitcoin mining industry." CleanSpark is a market-leading, pure play Bitcoin miner. The company owns and operates a portfolio of mining facilities across the United States . Katten regularly advises companies within the cryptocurrency and blockchain industries, combining its regulatory expertise and deep experience in a wide range of sophisticated transactions to deliver holistic legal advice to companies in this industry. The Katten team also included Capital Markets Partners Elizabeth McNichol and Timothy Kirby , and Associates Maximillian Licona and Michael Tremeski; Financial Markets and Funds Partner Krassi Zourkova and Associate Eli Krasnow; and Transactional Tax Planning Partner Todd Hatcher and Associate Jeffrey Ng. Katten is a full-service law firm with approximately 700 attorneys in locations across the United States and in London and Shanghai . Clients seeking sophisticated, high-value legal services turn to Katten for counsel locally, nationally and internationally. The firm's core areas of practice include corporate, financial markets and funds, insolvency and restructuring, intellectual property, litigation, real estate, structured finance and securitization, transactional tax planning, private credit and private wealth. Katten represents public and private companies in numerous industries, as well as a number of government and nonprofit organizations and individuals. For more information, visit katten.com . Contact: Jacquelyn Heard +1.312.902.5450 jackie.heard@katten.com Leonor Vivanco-Prengaman +1.312.577.8371 leonor.vivanco-prengaman@katten.com View original content to download multimedia: https://www.prnewswire.com/news-releases/katten-advises-cleanspark-on-650-million-convertible-senior-notes-offering-302338629.html SOURCE Katten
By David Shepardson WASHINGTON (Reuters) -The United States must do more to address hacking threats after China's alleged efforts known as Salt Typhoon to infiltrate American telecommunications companies and steal data about U.S. calls, senators said at a hearing Wednesday. "This attack likely represents the largest telecommunications hack in our nation's history," said Senator Ben Ray Lujan, a Democrat who chairs a telecom subcommittee. "There's a lot that we still don't know about the damage that was done by the Salt Typhoon hacks, but what we do know is that more must be done to prevent attacks like this." Republican Senator Ted Cruz said the "attack from a state-actor against our nation’s infrastructure will not be the last. We must plug any vulnerabilities in communications networks." U.S. agencies held classified briefings for the Senate and the House of Representatives over the last week about the hacking incident. Federal Communications Commission Chairwoman Jessica Rosenworcel last week proposed requiring telecom firms to submit an annual certification attesting that they have a plan in place to protect against cyberattacks. Lujan said federal agencies' outstanding recommendations "must be fully implemented across our networks." Republican Senator Dan Sullivan said in briefings U.S. officials focused on defense efforts to address Chinese hacking. "What about offense?" he asked. "What about deterrence?" The White House last week said at least eight telecommunications and infrastructure firms in the United States had been impacted and a large number of Americans' metadata has been stolen in the sweeping cyber espionage campaign. Chinese officials have previously described the allegations as disinformation and said Beijing "firmly opposes and combats cyber attacks and cyber theft in all forms." The House is set to vote Wednesday on an annual defense bill that includes nearly $3.1 billion for U.S. telecom companies to remove equipment made by Chinese telecoms firms Huawei and ZTE from American wireless networks. The FCC says removing the insecure equipment is estimated to cost $4.98 billion but Congress previously only approved $1.9 billion for the "rip and replace" program. U.S. officials previously alleged hackers targeted Verizon, AT&T, Lumen and others, and stole telephone audio intercepts along with a large tranche of call record data. (Reporting by David Shepardson; Editing by Stephen Coates)