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Shares of SEALSQ Corp. plunged more than 18% in early Friday trading, a sharp reversal after the stock’s value quadrupled earlier this week. Although, the stock later staged a partial recovery and was down just 6% by midday. The selloff followed the company’s announcement on Thursday of a public offering aimed at raising $10 million by issuing 7.69 million ordinary shares at $1.30 each. Wednesday marked the stock’s best day this year, with prices nearly doubling. However, concerns over shareholder dilution and the broader implications of the offering seemed to have tempered this momentum. Retail interest in SEALSQ has surged dramatically amid the volatility. Data from Stocktwits showed a 42% spike in message activity over the past 24 hours to Thursday, adding to a staggering 9,908% increase in chatter since Monday. The number of users tracking the stock also climbed by 11% in the last 24 hours, following a 50% increase earlier in the week. The direct offering has sparked significant debate on the platform over whether existing shareholders’ ownership will be reduced, given that the public offering price was above the market price at the time. SEALSQ plans to use the funds to accelerate the deployment of its next-generation post-quantum semiconductor technology and ASIC capabilities in the U.S. The offering is expected to be finalized by Monday. Despite the steep drop, the stock is up nearly 50% so far this year. For updates and corrections, email newsroom[at]stocktwits[dot]com.< Read also: Broadcom Joins Trillion-Dollar Club Driving Marvell, Astera, And Other Chip Stocks To Record Highs: Retail Is Doubling DownOn Wednesday at around 6pm, thousands of social media users in parts of the UK reported an outage with Facebook, Instagram and WhatsApp. The social media giant reported that a “technical issue” had left users unable to access its services. DownDetector, a website that monitors social media outages, says the three cities hit worst by the outage were London, Manchester and Glasgow. Other major cities hit hard by the blackout were Cardiff, Nottingham and Birmingham. By around 10pm on Wednesday, DownDetector UK said there had been 23,445 reports of Facebook outages, 11,466 Instagram outages and 18,646 on WhatsApp across Britain. In an update issued at 10.26pm on X, Meta said the problem was now nearly resolved. A spokesperson said: “Thanks for bearing with us! We’re 99% of the way there – just doing some last checks. “We apologise to those who’ve been affected by the outage.” Other parts of the world affected include Europe, Asia, South America and Australia, according to DownTracker. To find out if your area is affected, visit: .
Published 5:39 pm Wednesday, December 11, 2024 By Data Skrive Let’s check out the injury report for the New Orleans Pelicans (5-20), which currently includes seven players listed (including Brandon Ingram), as the Pelicans ready for their matchup with the Sacramento Kings (12-13, three injured players) at Smoothie King Center on Thursday, December 12 at 8:00 PM ET. Watch the NBA, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up. The Kings took care of business in their most recent game 141-97 against the Jazz on Sunday. Kevin Huerter scored a team-leading 26 points for the Kings in the win. The Pelicans’ most recent game was a 121-116 loss to the Spurs on Sunday. Trey Murphy III put up 25 points, six rebounds and five assists for the Pelicans. Sign up for NBA League Pass to get live and on-demand access to NBA games. Get tickets for any NBA game this season at StubHub. Catch NBA action all season long on Fubo. Bet on this or any NBA matchup at BetMGM. Not all offers available in all states, please visit BetMGM for the latest promotions for your area. Must be 21+ to gamble, please wager responsibly. If you or someone you know has a gambling problem, contact 1-800-GAMBLER .
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Rachel Christian | (TNS) Bankrate.com Just because retirement planning involves some guesswork doesn’t mean it has to be a total mystery. Related Articles Business | Tech review: Earbuds and phones for those on your holiday list Business | The year in money: inflation eased, optimism ticked upward Business | Some in seafood industry see Trump as fishermen’s friend, but tariffs could make for pricier fish Business | Trump offers support for dockworkers union by saying ports shouldn’t install more automated systems Business | Bay Area county divests from Caterpillar over equipment sales to Israel Whether you’ve been saving since your first job or you’re getting a late start, you can leverage expert-recommended strategies to gauge your progress on the road to retirement. And if you’re not quite on track, don’t sweat it — the experts we spoke to offered actionable tips to help you close the gap. 5 ways to tell if you’re on track for retirement You might have a general idea of how much money you need to save for retirement . A few quick calculations can give you an estimate, but to truly appreciate where you stand, you’ll need to dive into the numbers. Here’s how to get started. 1. Use the Rule of 25 to get a ballpark number A good rule of thumb to estimate your retirement savings goal is the Rule of 25 . Simply multiply your desired annual retirement income by 25. The result is roughly how much you’ll need to save before hitting retirement. For example, if you plan to spend $50,000 a year, you’ll need about $1.25 million to make it a reality. The Rule of 25 is based on the idea that withdrawing 4% annually from your retirement savings should last you about 30 years. While it’s not an exact science by any means — health care costs and lifestyle changes can skew the numbers, for example — the Rule of 25 can be a good starting point to figure out how much you need to save. 2. Compare your savings to Fidelity guidelines Fidelity Investments, a behemoth in the retirement planning space, offers savings guidelines to help you determine if you’re on track . —By age 30: Save 1x your annual salary —By age 40: Save 3x your annual salary —By age 50: Save 6x your annual salary —By age 60: Save 8x your annual salary —By age 67: Save 10x your annual salary For example, if you earn $60,000 annually, you should aim for $600,000 in savings by age 67. But like the Rule of 25, Fidelity’s guidelines offer a 10,000-foot look at retirement goals, and they’re not customized to your situation. Maybe you earned a low salary in your 20s, but you’re working hard in your 30s to make up for it. Use these estimates as a benchmark — but don’t get discouraged if you’re lagging behind. 3. Use an online retirement calculator Now it’s time to zoom in a little. To get a clearer snapshot of your progress, use an online retirement calculator. These tools factor in your age, current savings, income and lifestyle goals to estimate whether you’re on track. You’ll get a more refined estimate without crunching the numbers yourself. Bankrate’s retirement calculator even lets you input different rates of return on your investments and accounts for estimated annual salary increases. 4. Map out your retirement budget Having a general savings goal is nice, but to avoid falling short in retirement, you’ll need more than a ballpark figure. Experts recommend creating a retirement budget to get an up-close-and-personal look at how much you’ll really need once you leave the workforce. First, estimate how much you’ll spend per month in retirement. While some costs will increase, like health care, others will likely decrease, like dining out and commuting. “Estimating expenses can be challenging for some people, so as a starting point, I often use your net take-home pay,” says Jeff DeLarme, a certified financial planner and president of DeLarme Wealth Management. For example, if you receive a direct deposit of $2,500 every two weeks from work, use $5,000 as your estimated monthly spending in retirement. “Assuming this was enough to pay the bills while working, we can use $5,000 a month as a starting budget to plan for,” says DeLarme. Next, map out your sources of income in retirement. Social Security is the largest income stream for most retirees, but don’t neglect other inflows, such as: —Workplace retirement accounts, like 401(k)s —Personal retirement accounts, like a traditional or Roth IRA —Pensions —Annuities —Selling your home or business —Rental income —Inheritance “If there’s a gap between your expected expenses and income, you’ll have a good idea of how much you need to save,” says Mike Hunsberger, a certified financial planner and owner of Next Mission Financial Planning. From there, you can adjust your savings and investment strategy accordingly. 5. Talk to a financial adviser For something as important (and complex) as retirement planning, it pays to speak with a professional. Financial advisers can analyze your savings, investments and retirement goals to create a personalized plan. Advisers use special planning software that account for more variables than an online calculator, giving you a much more precise, granular look at your financial life in retirement. Many financial advisers can also help you optimize your tax strategy, which can potentially save you thousands of dollars over time. Make sure the adviser you hire is a fiduciary , meaning they’re legally obligated to prioritize your interests over their own. A fiduciary won’t push investments to earn a commission or recommend products that aren’t aligned with your needs. A certified financial planner is one of the most well-recognized designations for fiduciaries. You can use Bankrate’s adviser matching tool to find a certified financial planner in your area in minutes. 5 ways to catch up on retirement savings Maybe you did the math and realized you’re not quite where you need to be. Don’t panic if you’re behind schedule. Here are five strategies experts recommend to help you catch up on your retirement savings . 1. Scale back your spending now and in retirement Cutting expenses now frees up more cash to invest in your retirement accounts. Evaluate your budget and identify areas where you can cut costs, like dining out, streaming subscriptions or shopping. Don’t rule out bigger lifestyle changes either, especially if retirement is rapidly approaching. Housing is the biggest monthly expense for most people. Getting creative here can help amplify the amount you can sock away, says Joseph Boughan, a certified financial planner and managing member at Parkmount Financial Partners. It can also reduce your expenses in retirement, so you may not need to save as much as before. “Downsizing can be a great way to cut expenses,” says Boughan. “This can even free up cash if you don’t end up needing all that money for a new home.” Moving somewhere with lower property taxes or income taxes can also help bring your retirement plan back in line. And if you’re a renter, making tough short-term decisions, like taking on a roommate or moving to a lower cost-of-living area, can free up hundreds of dollars a month for your retirement. “Everyone’s plan is unique, so exploring all the options is important,” Boughan says. Joe Conroy, a certified financial planner and owner of Harford Retirement Planners, recommends taking a “retirement test drive” as you near your target date. “Start to live on what income you think you can afford in retirement and stash all the extra income into savings and investments,” says Conroy. “If you can make it through each month, you’re ready for retirement. If you run short, then adjust your plan accordingly.” 2. Delay retirement by a year or two Working a little longer can be a game-changer for your retirement nest egg. Not only does it give you more time to save, it also gives your investments room to grow. “Working longer or even just part time for a few years early in retirement is one of the best ways to reduce the amount of money you need to save,” says Hunsberger. Postponing retirement can also boost your Social Security benefits . “You can claim as early as 62, but your benefits will be reduced significantly,” says Hunsberger. Meanwhile, each year you delay claiming Social Security benefits beyond your full retirement age , your monthly check will increase by 8%, though this benefit maxes out at age 70. So waiting can really pay off. 3. Save more It may seem obvious, but if you’re behind on retirement savings, you’ll need to boost your contributions as much as possible. Here are a few ways to make saving for retirement easier: —Increase your contribution rate: Allocate a larger portion of your paycheck to a workplace retirement plan. Even bumping up your contributions by 1% or 2% can make a huge difference down the road. —Take advantage of your employer match: Don’t leave free money on the table. Many employers will chip in between 3 and 5% depending on your plan, so make sure you’re contributing enough to take advantage of the benefit. —Use “unexpected” money to catch up: If you get a raise or bonus at work, funnel part of it directly into your 401(k). And if you get a refund at tax time, siphon some of it off to beef up your IRA. 4. Invest more aggressively If you’ve been investing in low-risk, low-return investments, you may not be keeping up with inflation, let alone growing your nest egg. Reallocating part of your portfolio to stocks or low-cost growth exchange-traded funds (ETFs) is one way to get your money working harder. Higher-risk investments like stocks carry more volatility but also offer higher potential returns. Work with a financial adviser or use a robo-adviser to strike the right balance between growth and your personal risk tolerance. 5. Take advantage of new retirement account catch-up contributions Contribution limits for 401(k) plans and IRAs are higher for people over 50. For 2025, employees aged 50 and up who participate in most 401(k) plans or the federal government’s Thrift Savings Plan can save up to $31,000 annually, including a $7,500 catch-up contribution . But thanks to SECURE 2.0 , a sweeping retirement law, a new higher catch-up contribution limit of $11,250 applies for employees ages 60 to 63. So, if you’re in this age group, you can squirrel away a whopping $34,750 a year during the final stretch of your career. Of course, you’ll need a big salary (think six figures) in order to take full advantage of such massive contribution limits. But if you can afford it, these catch-up allowances can put your plan back on track, especially if you struggled to save much early in your career. Bottom line There’s no GPS to gauge your progress on the road to retirement. If you’ve veered off course or aren’t sure where to start, begin by getting a quick estimate of how much you’ll need before mapping out a retirement budget. And if you’re behind, don’t panic — adjusting your spending, boosting your contributions and speaking with a financial adviser can help you catch up. ©2024 Bankrate.com. 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Juan Soto Seeking More Than Money in Free Agent Discussions: ReportTrade facilitation specialist Folk Maritime Services has secured a strategic agreement with Shanghai CIMC Yangshan Logistics Equipment to purchase 5,600 advanced, fully recyclable shipping containers, revealed the company’s CEO. The move is part of the Public Investment Fund-owned company’s broader strategy to promote sustainability and drive technological innovation in the Middle East’s maritime industry. Poul Hestbaek emphasized the company’s role as a leader in the regional liner and feeder sector, focusing on sustainability and the implementation of advanced technologies. “These containers have a capacity of 6,700 TEUs (twenty-foot equivalent units) and are 100 percent recyclable,” Hestbaek told Arab News in an interview. “We have only chosen materials that, once the containers have gone through their lifecycle, can be fully recycled and put back into the production line. This is a significant sustainability element,” he added. The containers, designed to last 15 to 20 years, are part of Folk Maritime’s broader efforts to reduce its environmental footprint. Hestbaek said, “By designing containers with full recyclability in mind, we’re closing the loop on waste and contributing to a more sustainable shipping industry.” In addition to sustainability, Folk Maritime is investing in cutting-edge tracking technology to enhance customer experience. The company is installing sensors in its containers that will allow customers to monitor their cargo in real-time. “We are installing trackers so that our customers can, at any given time, follow their container’s location and monitor their cargo,” Hestbaek said. These trackers include sensors that provide real-time updates and alerts if the container’s door is opened or closed, ensuring that customers can detect potential compromises to their shipments. “This feature is relatively new technology. While it may be used in some very big global trade, it’s the first of its kind in the Middle East area. We are the first to offer that, and we believe it will be a big help for our customers,” Hestbaek said. Folk Maritime is expanding its services to improve regional trade connectivity and connect key ports, in line with Saudi Arabia’s Vision 2030. “Our first services connected Jeddah to Egypt and Jordan. We also opened the first weekly direct connection between Jeddah and NEOM, along with a sea connection to Yanbu, which offers safer transportation of heavy containers and reduces road wear and tear,” Hestbaek said. Additionally, Folk Maritime has launched services in Port Sudan, further strengthening trade relations between Saudi Arabia and the African nation, and is facilitating cargo transport from India to Jeddah and surrounding countries. With trade between India and the Middle East expanding rapidly, Folk Maritime is positioning itself to capitalize on this growing corridor. “Our service connects India directly to Dammam, offering faster and more reliable transit times. Unlike competitors, we skip ports like Jebel Ali and Abu Dhabi to ensure quicker delivery for Saudi customers,” Hestbaek said. India, increasingly a major supplier of goods to the Middle East, has seen Saudi Arabia account for half of the region’s consumption, further underscoring the strategic importance of this new service. Sustainability remains a cornerstone of Folk Maritime’s strategy. The company operates fuel-efficient vessels and optimizes services to run at lower, more cost-effective speeds, reducing both fuel consumption and carbon emissions. “Our vessels are specifically designed to operate efficiently at lower speeds, which significantly reduces our environmental impact,” Hestbaek said. Looking ahead, Folk Maritime is exploring carbon capture technology to further reduce its environmental footprint. “If we can find a way to capture the carbon footprint of fossil fuel use, it will be a game changer, especially for this part of the world,” Hestbaek emphasized. As part of Saudi Arabia’s Vision 2030, Folk Maritime is focused on transforming the Kingdom into a global logistics hub. By connecting key ports and streamlining trade flows, the company aims to facilitate greater regional trade while supporting the country’s broader economic objectives. “Saudi Arabia generates a significant amount of the region’s cargo. Our goal is to serve this growing market and align with Vision 2030’s objectives to create seamless trade networks across the region,” Hestbaek concluded. Folk Maritime’s focus on sustainability, technological innovation, and expanding regional connectivity positions it as a key player in reshaping Middle East, East Africa, and India trade routes, setting a new benchmark for the shipping industry. Source: Arab News