A critical City Council committee vote over the mayor’s City of Yes housing proposal was delayed Thursday as officials finalized the details, with lawmakers negotiating over contested aspects of the plan and Gov. Hochul agreeing to put up $1 billion in state money to help make it happen. Hochul, who has been supportive of the plan, stepped up late Wednesday night with the $1 billion in funding from the state budget at the request of City Hall, sources told The News. This came after the Council pushed for new funding commitments from the administration. The state money brings the total funding coming from Mayor Adams to $5 billion for various improvements and other expenses. The Department of City Planning, which has spearheaded the plan, initially estimated it could lead to between 58,200 and 108,900 new units being built over 15 years. The final version is expected to fall around 80,000, according to sources familiar with the matter. Some of the most controversial components of “Zoning for Housing Opportunity,” as it’s known, were scaled back as city officials hammered out specifics on funding, the number of units to build, accessory dwelling units and parking mandates hours past when the vote was scheduled to start. The plan was pitched as a badly needed overhaul of decades-old zoning rules exacerbating the city’s dire housing shortage . The packages of reforms would help build “a little bit more housing” in every neighborhood by loosening restrictions on what can be built where. In the eleventh-hour negotiations, officials from the Council speaker’s office, the Department of City Planning and the Mayor’s office hashed out a new version of the parking component, making it a tiered model where mandates will either stay unchanged, be reduced or eliminated entirely depending on location, sources familiar with the matter told The News. Councilmembers from car-reliant areas in the outer boroughs have raised concerns for months about parking mandates, which would have lifted minimum parking requirements for new developments citywide — but not banned new parking. “If the City of Yes passes, we will have done so much to bring relief to New Yorkers across the five boroughs,” First Deputy Mayor Maria Torres-Springer said at an unrelated news conference on Thursday. City of Yes has faced strong resistance since its introduction last September from more development-averse outer borough neighborhoods, where residents voiced concerns about how the plan would change the fabric of their communities. The committee vote comes after months of arduous, often heated evaluation from community boards, borough presidents and other stakeholders during the city’s review process . Zoning for Housing Opportunity is set for a final vote by the full Council early next month.China okays mega dam in Tibet's high seismic zoneChildbirth unit at Queensway Carleton Hospital celebrates 25th anniversary
Global Privacy Incident Management Software Market Size, Share and Forecast By Key Players-RadarFirst,OneTrust,SureCloud,Resolver,LogicManager 12-26-2024 05:12 PM CET | Advertising, Media Consulting, Marketing Research Press release from: Market Research Intellect Privacy Incident Management Software Market USA, New Jersey- According to the Market Research Intellect, the global Privacy Incident Management Software market is projected to grow at a robust compound annual growth rate (CAGR) of 14.4% from 2024 to 2031. Starting with a valuation of 8.21 Billion in 2024, the market is expected to reach approximately 18.4 Billion by 2031, driven by factors such as Privacy Incident Management Software and Privacy Incident Management Software. This significant growth underscores the expanding demand for Privacy Incident Management Software across various sectors. The Privacy Incident Management Software market is witnessing significant growth due to the increasing number of data breaches, stricter data protection regulations, and rising awareness about privacy. As organizations face growing concerns over cyber threats and compliance requirements, the demand for advanced privacy management solutions is rising. With the adoption of cloud-based platforms and AI-driven tools, businesses can better manage and mitigate privacy incidents. Additionally, the growing focus on customer data protection and privacy rights further drives the demand for robust incident management software. This market is expected to continue expanding as businesses prioritize safeguarding sensitive data and adhere to evolving global privacy laws. The dynamics of the Privacy Incident Management Software market are shaped by several factors, including evolving privacy regulations like GDPR and CCPA. Companies are increasingly adopting automated solutions for real-time monitoring, reporting, and response to privacy breaches. Integration with existing IT infrastructure and cross-platform functionality is a key driver for market growth. The rising complexity of cyber threats also encourages organizations to seek sophisticated tools for breach detection and risk mitigation. Moreover, the growing reliance on cloud-based services and the need for scalable solutions are influencing software adoption trends. These dynamics make privacy incident management a crucial element for data-driven organizations aiming to protect customer trust and maintain regulatory compliance. Request PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.marketresearchintellect.com/download-sample/?rid=10715580&utm_source=OpenPr&utm_medium=047 Key Drivers: The growth of the Privacy Incident Management Software market is driven by several key factors. Technological advancements in Privacy Incident Management Software have enabled greater efficiency and enhanced capabilities, spurring adoption across industries. Additionally, the rising demand for sustainable and eco-friendly solutions is pushing companies to innovate and adopt greener practices. Expanding applications in sectors like Privacy Incident Management Software and Privacy Incident Management Software are further contributing to market demand, as these industries seek advanced solutions to streamline operations and enhance product quality. Favorable government policies and incentives in regions such as North America, Europe, and Asia-Pacific support investment and growth. Moreover, an increasing focus on Privacy Incident Management Software for improving operational efficiency and cost-effectiveness is encouraging businesses to embrace new technologies, fostering sustained market expansion. Mergers and Acquisitions Mergers and acquisitions (M&A) play a pivotal role in the Privacy Incident Management Software market, as companies look to expand their capabilities, access new technologies, and strengthen market presence. Leading players engage in strategic acquisitions to consolidate their position and gain a competitive edge. These transactions often facilitate the integration of advanced Privacy Incident Management Software solutions, helping firms broaden their product portfolios and meet growing customer demands. Additionally, M&A activities support companies in achieving economies of scale and penetrating new regional markets, particularly in high-growth areas like Asia-Pacific. Through such strategic alliances, businesses aim to accelerate innovation, enhance operational efficiency, and address evolving market challenges, ultimately driving the overall growth of the Privacy Incident Management Software market. Get a Discount On The Purchase Of This Report @ https://www.marketresearchintellect.com/ask-for-discount/?rid=10715580&utm_source=OpenPr&utm_medium=047 The following Key Segments Are Covered in Our Report By Type Cloud Based On-premises By Application SMEs Large Enterprises Major companies in Privacy Incident Management Software Market are: RadarFirst,OneTrust,SureCloud,Resolver,LogicManager,Exterro,IBM,Microsoft,Canopy Software,Kaseware,OTRS,Wrangu,Galvanize,GRACE GRC,WireWheel,Gonvarri,Accountable HQ,DPOrganizer,SolarWinds,CyberCPR,Cherwell Software,DoControl,Cority,Corporater Global Privacy Incident Management Software Market -Regional Analysis North America: North America is expected to hold a significant share of the Privacy Incident Management Software market due to advanced technological infrastructure and the presence of major market players. High demand across sectors like Privacy Incident Management Software and Privacy Incident Management Software is driving growth, with the U.S. being a key contributor. Additionally, ongoing investments in R&D and innovation reinforce the region's strong market position. Europe: Europe is projected to experience steady growth, driven by stringent regulatory standards and a rising focus on sustainability in Privacy Incident Management Software practices. Countries like Germany, France, and the UK are leading due to their advanced industrial base and supportive government policies. The demand for eco-friendly and efficient Privacy Incident Management Software solutions is expected to continue fostering market expansion. Asia-Pacific: Asia-Pacific is anticipated to be the fastest-growing region, fueled by rapid industrialization and urbanization. Countries such as China, India, and Japan are driving demand due to expanding consumer bases and increasing investments in infrastructure. The region's robust manufacturing sector and favorable economic policies further enhance growth opportunities in the Privacy Incident Management Software market. Latin America: Latin America and the Middle East & Africa are expected to show moderate growth in the Privacy Incident Management Software market. In Latin America, growth is supported by rising industrial activities in countries like Brazil and Mexico. Meanwhile, in the Middle East & Africa, infrastructure development and an increasing focus on innovation in sectors like Privacy Incident Management Software are key drivers of market expansion. Middle East and Africa: The Middle East and Africa represent emerging markets in the global Privacy Incident Management Software market, with countries like UAE, Saudi Arabia, South Africa, and Nigeria showing promising growth potential. Economic diversification efforts, urbanization, and a young population are driving demand for Privacy Incident Management Software products and services in the region. Frequently Asked Questions (FAQ) 1. What is the current size of the Privacy Incident Management Software market? Answer: The Privacy Incident Management Software market was valued at approximately 8.21 Billion in 2024, with projections suggesting it will reach 18.4 Billion by 2031, growing at a CAGR of 14.4%. 2. What factors are driving the growth of the Privacy Incident Management Software market? Answer: The market's expansion is attributed to several factors, including increased demand for Privacy Incident Management Software, advancements in Privacy Incident Management Software technology, and the adoption of Privacy Incident Management Software across various sectors. 3. Which regions are expected to dominate the Privacy Incident Management Software market? Answer: Regions such as North America, Europe, and Asia-Pacific are anticipated to lead due to the presence of major industry players and growing investments in Privacy Incident Management Software. 4. Who are the key players in the Privacy Incident Management Software market? Answer: Prominent companies in the Privacy Incident Management Software market include Privacy Incident Management Software, Privacy Incident Management Software, and Privacy Incident Management Software, each contributing to market growth through innovations and strategic partnerships. 5. What challenges does the Privacy Incident Management Software market face? Answer: The market faces challenges such as Privacy Incident Management Software, regulatory compliance, and competition from alternative solutions. However, ongoing advancements aim to address these issues. 6. What are the future trends in the Privacy Incident Management Software market? Emerging trends include the integration of Privacy Incident Management Software technology, sustainability practices, and digital transformation in processes, all expected to shape the market's future. 7. How can businesses benefit from the Privacy Incident Management Software market? Answer: Businesses can leverage growth opportunities in the Privacy Incident Management Software market by adopting new solutions, enhancing operational efficiency, and expanding their offerings to meet evolving consumer demands. 8. Why invest in a Privacy Incident Management Software market report from MRI? Answer: MRI's report provides in-depth analysis, future projections, and key insights to support strategic decision-making, enabling businesses to stay competitive and capitalize on growth trends in the Privacy Incident Management Software market. 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We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions. Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research. Our research spans a multitude of industries including Energy, Technology, Manufacturing and Construction, Chemicals and Materials, Food and Beverages, etc. Having serviced many Fortune 2000 organizations, we bring a rich and reliable experience that covers all kinds of research needs. For inquiries, Contact Us at: Mr. Edwyne Fernandes Market Research Intellect APAC: +61 485 860 968 EU: +44 788 886 6344 US: +1 743 222 5439 This release was published on openPR.Sean Everitt has conceded that the pressure is on him as he leads Edinburgh into the second leg of the 1872 Cup against Glasgow Warriors at Murrayfield this weekend. His side were overwhelmed in the first match of the festive double-header at Hampden last Sunday and trailed 33-0 at one point before a late rally saw them lose 33-14. The defeat resulted in them falling to ninth place in the United Rugby Championship, below the play-off places. Everitt is under contract until June 2026 but admitted that results need to improve if he is to keep his job. Edinburgh’s away form has been particularly damaging. They have not won on the road all season and you have to go back to April’s 24-7 success in Cardiff for their last away victory. The most damaging result was the 55-21 defeat by the Lions in South Africa in early October during which they trailed 48-0 at half-time, a record margin for the league. By contrast, their home form has been impressive and they have won four of their five matches at Hive Stadium this season, averaging 40 points per game. Everitt said his team’s indiscipline in the first half against Glasgow on Sunday was a mitigating factor in the defeat. Edinburgh conceded 10 penalties and had two forwards, Pierre Schoeman and Marshall Sykes, sent to the sin-bin during the opening 40 minutes. “Well, our job is under pressure every weekend, to be quite honest with you,” said Everitt. “They wrote Edinburgh off when we lost to the Lions, then we came home and we’ve done well at home. “Yeah, when a team puts in a performance like that [against Glasgow] there’s questions that you ask yourself as well. But then you’ve got to be real. You’ve got to go and look at the rugby that we played, and the discipline. And I think you don’t have to look further than the discipline to understand why it didn’t go our way and why we didn’t have opportunities. In the second half we gave away three penalties as opposed to 10 in the first half. We were leading the second-half score 14-12. “How do we deal with those discipline issues? We’ve got to confront those and make sure there are obviously consequences for that. But at the end of the day, yeah, it is disappointing to watch a team go 21-0 up at half-time. And then to come out when you’ve had a chat and concede another try as quickly as we did - it was three minutes into the second half . . . “So when you talk about pressure, keeping your job, like I say, I’ve been coaching long enough to know that we need results to keep our jobs. I feel no different than I did last week.” Everitt said the yellow card offenders would be dealt with accordingly. “We’ve got protocols within our group,” said the coach. “I’m not going to share that with you. The leaders take care of the guys that do misdemeanours on and off the field, so they’ll be in control of that.” Everitt said that he had spoken with David Nucifora, Scottish Rugby’s new performance director, and found it useful. “Yes, we’ve had long talks about structures within Edinburgh Rugby and I think his focus at this stage is on the pathway system and how to rectify that. Yes, we’ve had regular discussions with Dave with regards to our squad and where we’re going with our squad and it’s all positive. It’s been good to have someone in that role that you can chat to and rub shoulders with and rub ideas off.” Everitt acknowledged that Edinburgh would need to show more fight if they are to beat Glasgow in the second leg. Asked what the key would be to a home win at Murrayfield, he said: “I think for us to play with more intent. We didn’t win the scrap battle [in the first leg], we lost the aerial battle, I think they got the better of us at the breakdown as well, especially in the first half. So I would say counter-attack as well, attack from turnover. We know that they do turn the ball over because of the way they play and we’ve got to make better use of that. So for me, at the end of the day I suppose if you want to sum it up in one word, it’s putting in more intent in our performance.” Edinburgh will be without Magnus Bradbury who sustained a head injury at Hampden and Everitt said that Hamish Watson was a contender to return to the team. The British & Irish Lion has not played since October. Ben Vellacott is also unavailable due the ankle injury that kept him out of the first leg.VIDEO: Silvertips down Vancover GiantsQB Daniel Jones disagrees with the Giants' decision to bench him and says he wants to play
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SEOUL, South Korea , Nov. 27, 2024 /PRNewswire/ -- Hyundai Motor Company and Kia Corporation have unveiled a reliable companion for industrial work, the wearable robot 'X-ble Shoulder.' This device, just by being worn, can increase workers' efficiency and reduce musculoskeletal injuries. Two videos released on Hyundai Motor Group's YouTube channel show the X-ble Shoulder in action, including product features and the development story . Hyundai Motor and Kia unveiled the X-ble Shoulder at Wearable Robot Tech Day held at the Hyundai Motorstudio Goyang near Seoul . The X-ble brand — a combination of 'X,' symbolizing infinite potential, and 'able,' indicating that anything can be realized — heralds a new era in wearable technology. The X-ble Shoulder, the first product in the X-ble line, is an industrial wearable robot developed by Hyundai Motor and Kia's Robotics LAB. When used in 'overhead work' where the arm is raised, it can assist the user's upper arm muscle strength and reduce the burden on the upper extremity musculoskeletal system. The X-ble Shoulder will find use in various industries, including construction, shipbuilding, aviation and agriculture, not just automobiles. Following its domestic launch, the companies plan to gradually expand sales to overseas markets. In addition to the X-ble Shoulder, Hyundai Motor and Kia plan to develop an industrial wearable robot 'X-ble Waist' to assist the waist when lifting heavy loads, and a medical wearable robot 'X-ble MEX' for the rehabilitation of the walking impaired. "The X-ble Shoulder is a wearable robot that leverages the technical capabilities of the Robotics LAB and implements feedback from actual users," said Dong Jin Hyun , Vice President and Head of Robotics LAB at Hyundai Motor and Kia. "Going forward, we aim to expand the availability of wearable robots, creating products that work naturally with users to enhance their daily lives. By pushing technological boundaries, we will make these beneficial products accessible to more people." View original content to download multimedia: https://www.prnewswire.com/news-releases/hyundai-motor-and-kias-robotics-lab-announce-plans-to-launch-x-ble-shoulder-at-wearable-robot-tech-day-302317253.html SOURCE Hyundai Motor Company; Kia CorporationBy JOSH BOAK WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries. The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared. This time, though, his tariff threats might be different . The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he’ll do what he says and what the consequences could be. “There’s going to be a lot more tariffs, I mean, he’s pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his initial term. Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl, Trump posted. Business groups were quick to warn about rapidly escalating inflation , while Mexican President Claudia Sheinbaum said she would counter the move with tariffs on U.S. products. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.” “The economy department is preparing it,” Sheinbaum said. “If there are tariffs, Mexico would increase tariffs, it is a technical task about what would also benefit Mexico,” she said, suggesting her country would impose targeted import duties on U.S. goods in sensitive areas. House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans’ coming control of both the House and Senate. “This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs,” said Rep. Suzan DelBene, D-Wash. But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November’s election largely involved restraining inflation. The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second largest economy. Biden administration officials looked at removing Trump’s tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly. Tariffs were “so new and unique that it freaked everybody out in 2017,” said Stumo, but they were ultimately somewhat modest. Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods. Still, the dispute changed relations with China as more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its “soft power” as the Chinese population began to watch fewer American movies. The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs. Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically. When Trump first became president in 2017, the federal government collected $34.6 billion in customs, duties and fees. That sum more than doubled under Trump to $70.8 billion in 2019, according to Office of Management and Budget records. While that sum might seem meaningful, it was relatively small compared to the overall economy. America’s gross domestic product is now $29.3 trillion, according to the Bureau of Economic Analysis. The total tariffs collected in the United States would equal less than 0.3% of GDP. The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts. If Mexico, Canada, and China faced the additional tariffs proposed by Trump on all goods imported to the United States, that could be roughly equal to $266 billion in tax collections, a number that does not assume any disruptions in trade or retaliatory moves by other countries. The cost of those taxes would likely be borne by U.S. families, importers and domestic and foreign companies in the form of higher prices or lower profits. Former Biden administration officials said they worried that companies could piggyback on Trump’s tariffs — if they’re imposed — as a rationale to raise their prices, just as many companies after Russia’s invasion of Ukraine in 2022 boosted food and energy costs and gave several major companies the space to raise prices, according to their own earnings calls with investors. But what Trump didn’t really spell out is what might cause him to back down on tariffs and declare a victory. What he is creating instead with his tariff threats is a sense of uncertainty as companies and countries await the details to figure out what all of this could mean. “We know the key economic policy priorities of the incoming Trump administration, but we don’t know how or when they will be addressed,” said Greg Daco, chief U.S. economist at EY-Parthenon. AP writer Mark Stevenson contributed to this report from Mexico City.
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PRAGUE, Czech Republic (AP) — When the referee whistled for the free kick just outside the area, Atletico Madrid forward Julián Álvarez quickly picked up the ball and moved in position to take the shot. “When I saw the free kick, I told Rodri (Rodrigo De Paul) that I felt confident with the shot,” Álvarez said. “And it was a great goal.” Álvarez, , has not been lacking confidence lately. The Argentina forward curled in the free kick shot in the 15th minute for the first of his two goals in the team’s 6-0 rout of Brest in the Champions League on Tuesday — the team’s biggest ever away win in European competitions. “We'll keep rotating who takes the free kicks,” said Álvarez, who also found the net in the 59th. It was Álvarez’s seventh goal in the last 10 matches, and third in his last three games across all competitions. The 24-year-old had a slow start to his first season with Atletico, scoring twice in 10 matches. “It was a matter of time before we started connecting well with each other,” said Álvarez, who joined Atletico after two seasons at Manchester City. “We have to stay on this path to keep improving.” Ángel Correa also scored two goals for Atletico, with Marcos Llorente and Antoine Griezmann adding one each. “We know that in this format of the competition we need to keep adding the three points and scoring goals," Álvarez said. "It's important to get the points and the goals.” Atletico was sitting in 13th place in the 36-team league standings. ___ AP soccer: The Associated Press
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By JOSH BOAK WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries. The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared. This time, though, his tariff threats might be different . The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he’ll do what he says and what the consequences could be. “There’s going to be a lot more tariffs, I mean, he’s pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his initial term. Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl, Trump posted. Business groups were quick to warn about rapidly escalating inflation , while Mexican President Claudia Sheinbaum said she would counter the move with tariffs on U.S. products. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.” “The economy department is preparing it,” Sheinbaum said. “If there are tariffs, Mexico would increase tariffs, it is a technical task about what would also benefit Mexico,” she said, suggesting her country would impose targeted import duties on U.S. goods in sensitive areas. House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans’ coming control of both the House and Senate. “This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs,” said Rep. Suzan DelBene, D-Wash. But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November’s election largely involved restraining inflation. The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second largest economy. Biden administration officials looked at removing Trump’s tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly. Tariffs were “so new and unique that it freaked everybody out in 2017,” said Stumo, but they were ultimately somewhat modest. Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods. Still, the dispute changed relations with China as more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its “soft power” as the Chinese population began to watch fewer American movies. The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs. Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically. When Trump first became president in 2017, the federal government collected $34.6 billion in customs, duties and fees. That sum more than doubled under Trump to $70.8 billion in 2019, according to Office of Management and Budget records. While that sum might seem meaningful, it was relatively small compared to the overall economy. America’s gross domestic product is now $29.3 trillion, according to the Bureau of Economic Analysis. The total tariffs collected in the United States would equal less than 0.3% of GDP. The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts. If Mexico, Canada, and China faced the additional tariffs proposed by Trump on all goods imported to the United States, that could be roughly equal to $266 billion in tax collections, a number that does not assume any disruptions in trade or retaliatory moves by other countries. The cost of those taxes would likely be borne by U.S. families, importers and domestic and foreign companies in the form of higher prices or lower profits. Former Biden administration officials said they worried that companies could piggyback on Trump’s tariffs — if they’re imposed — as a rationale to raise their prices, just as many companies after Russia’s invasion of Ukraine in 2022 boosted food and energy costs and gave several major companies the space to raise prices, according to their own earnings calls with investors. But what Trump didn’t really spell out is what might cause him to back down on tariffs and declare a victory. What he is creating instead with his tariff threats is a sense of uncertainty as companies and countries await the details to figure out what all of this could mean. “We know the key economic policy priorities of the incoming Trump administration, but we don’t know how or when they will be addressed,” said Greg Daco, chief U.S. economist at EY-Parthenon. AP writer Mark Stevenson contributed to this report from Mexico City.
Former Congresswoman and current South Dakota governor, Kristi Noem , was announced as Donald Trump's pick to lead the Department of Homeland Security. Here's a look at Noem's finances and wealth. Trump's Pick: Since winning the 2024 presidential election, Trump has started announcing who he will be nominating for Cabinet positions. While many of the picks await official nomination and Congressional approval, Trump has been busy assembling his team. Noem served in the U.S. House of Representatives from 2011 to 2019 and has been governor of South Dakota since 2019. The governor was on the shortlist of candidates that were expected to be named as Trump's vice-presidential pick for the 2024 election, even being one of the betting favorites at prediction market Polymarket for some time. A controversy involving Noem's newest book saying that her 14-month-old family hunting dog was shot by the politician may have led to her falling out as a top pick for the vice president role. Did You Know? Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool Noem's Finances: As governor of South Dakota, Noem collects an annual salary of $121,578 as reported by Ballotpedia . While in Congress, Noem collected a salary of $174,000 annually. If elected to Trump's cabinet, Noem will collect an annual salary of $246,400. A recent 2023 financial disclosure form filed in South Dakota showed that Noem has financial interest in Noem Insurance, run by her husband Byron Noem , and several small businesses. Noem also listed cash rent from pastures as a source of income and has previously declared a family ranch in financial disclosures. The ranch was inherited when her father passed away and is co-owned with her mother and siblings. The South Dakota governor has authored two books, which she lists as a source of income for royalties. The autobiography books are "Not My First Rodeo: Lessons from the Heartland" and "No Going Back," which were published in 2022 and 2024, respectively. Noem's most recent disclosure from 2023 is easy to find and read on the South Dakota Secretary of State website. Older disclosures don't load as images. Estimates on Noem's wealth have varied greatly over the years based on some of the questions about her disclosures. An estimate from OpenSecrets in 2017 listed Noem's wealth at $2.35 million. Money listed her wealth at $4.5 million in a 2023 article using financials from 2021. Energy Investment: Also listed on Noem's financial disclosures is an investment in Granite Falls Energy, which she has declared income from previously. Noem disclosed that she made between $25,006 and $70,000 in dividends from the investment from her first Congressional run in 2010 through early 2019, as reported by South Dakota Searchlight. South Dakota disclosures do not require Noem to list the amount of income received, only the sources of income. The report linked the energy company as a partner to Summit Carbon Solutions, a company that had proposed a carbon pipeline in South Dakota. South Dakota Searchlight said the financial interest in the proposed pipeline raised questions about Noem's lack of support for anti-pipeline legislation in the state. A spokesperson for Noem told the media outlet that the governor "invested in Granite Falls many years ago and has always appropriately disclosed her finances." The pipeline has struggled to gain voter support in South Dakota. If elected into Trump's cabinet, Noem's past interest in and investments in energy pipelines could be worth monitoring by investors. Several pipeline ETFs like the Alerian MLP ETF AMLP and Global X MLP & Energy Infrastructure ETF MLPX could benefit from having Noem, a pro-pipeline investor, in the Trump White House administration. Noem's son-in-law Kyle Peters is a registered lobbyist for Gevo Inc GEVO , a biofuels company, that could benefit from pipelines and energy investments in South Dakota. Read Next: Donald Trump’s Personnel Picks: New Poll Finds Elon Musk With Highest Approval By Voters, Matt Gaetz With Highest Disapproval Photo: Maxim Elramsisy via Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.None
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AP News Summary at 1:00 p.m. ESTReform UK has said it could help Labour's candidate for First Minister of Scotland - as 'anything is preferable to the SNP '. Nigel Farage 's party hopes to become kingmakers in the Scottish Parliament's 2026 election, where it expected to gain around 14 seats. The party is expected to become the fourth biggest in the Holyrood election, the Scottish Daily Express reports , behind Labour, the SNP and the Tories , although Reform even hopes to knock the Conservatives into fourth. The position of First Minister is set to be taken by either Labour or the SNP - with Reform's deputy leader Richard Tice indicating the party would help to put Scottish Labour leader Anas Sarwar in power in Edinburgh. Speaking to the Telegraph , he claimed Scotland had suffered under an SNP government and that it was 'time for a change'. He added: "Our ambition is we see it being quite possible that we end up being the kingmakers in the next Holyrood government. "And from a standing start, give or take at the beginning of this year in Scottish terms, that is a pretty significant and quite achievable observation. "It's quite possible that we poll as the third largest party in terms of the number of votes and seats." The Reform MP for Boston and Skegness added that he felt the party would perform particularly well in North East Scotland in 2026. However he also believes the party could 'surprise' people in Glasgow after Reform came third in a recent by-election in the city's North East ward. Mr Tice added: "If you look at where we're polling and I think for most people that's unexpected rapid growth. "And polling is being at least matched by by-election results - so it's for real. It's not just keyboard warriors."