US President Joe Biden on Sunday said deposed Syrian leader Bashar al-Assad should be "held accountable" but called the nation's political upheaval a "historic opportunity" for Syrians to rebuild their country. In the first full US reaction to Assad's overthrow by an Islamist-led coalition of rebel factions, Biden also warned that Washington will "remain vigilant" against the emergence of terrorist groups, announcing that US forces had just conducted fresh strikes against militants from the Islamic State organization. "The fall of the regime is a fundamental act of justice," Biden said, speaking from the White House. "It's a moment of historic opportunity for the long-suffering people of Syria." Asked by reporters what should happen to the deposed president, who reportedly has fled to Moscow, Biden said that "Assad should be held accountable." Biden -- set to step down in January and make way for Republican Donald Trump's return to power -- said Washington will assist Syrians in rebuilding. "We will engage with all Syrian groups, including within the process led by the United Nations, to establish a transition away from the Assad regime toward independent, sovereign" Syria "with a new constitution," he said. However, Biden cautioned that hardline Islamist groups within the victorious rebel alliance will be under scrutiny. "Some of the rebel groups that took down Assad have their own grim record of terrorism and human right abuses," Biden said. The United States had "taken note" of recent statements by rebels suggesting they had since moderated, he said, but cautioned: "We will assess not just their words, but their actions." Biden said Washington is "clear eyed" that the Islamic State extremist group, often known as ISIS, "will try to take advantage of any vacuum to reestablish" itself in Syria. "We will not let that happen," he said, adding that on Sunday alone, US forces had conducted strikes against ISIS inside Syria. The US military said the strikes were conducted by warplanes against Islamic State operatives and camps. Strikes were carried out against "over 75 targets using multiple US Air Force assets, including B-52s, F-15s, and A-10s," the US Central Command said on social media. Earlier, Biden met with his national security team at the White House to discuss the crisis. Assad's reported departure comes less than two weeks after the Islamist Hayat Tahrir al-Sham (HTS) group challenged more than five decades of Assad family rule with a lightning rebel offensive that broke long-frozen frontlines in Syria's civil war. They announced Sunday they had taken the capital Damascus and that Assad had fled, prompting celebrations nationwide and a ransacking of Assad's luxurious home. A Kremlin source told Russian news agencies that the deposed leader was now in Moscow, along with his family. The US military has around 900 troops in Syria and 2,500 in Iraq as part of the international coalition established in 2014 to help combat the Islamic State jihadist group. It has regularly struck targets in the country including those linked to Iranian-backed militias. Tehran was a major backer of Assad's government. Biden also confirmed US authorities believe the American journalist Austin Tice, who was abducted in Syria in 2012, still lives. "We believe he's alive," Biden said, but the US has yet "to identify where he is." bur-sms/mlmPolice say suspect in UnitedHealthcare CEO killing wasn't a client of the insurer
Trump rings New York Stock Exchange's opening bell
ATLANTA , Dec. 12, 2024 /PRNewswire/ -- Cousins Properties Incorporated (the "Company" or "Cousins") (NYSE:CUZ) announced today that its operating partnership, Cousins Properties LP (the "Operating Partnership"), has priced an offering of $400 million aggregate principal amount of 5.375% senior unsecured notes due 2032 at 99.463% of the principal amount. The offering is expected to close on December 17, 2024 , subject to the satisfaction of customary closing conditions. Cousins intends to use the net proceeds from the offering to fund a portion of the purchase price of 601 West 2nd Street, also known as Sail Tower, an 804,000 square foot trophy lifestyle office property in Austin (the "Sail Tower Acquisition"), and the remainder to repay borrowings under its credit facility and for general corporate purposes. In the event the Sail Tower Acquisition is not completed, Cousins will use the net proceeds from the offering for general corporate purposes, including the acquisition and development of office properties, other opportunistic investments and the repayment of debt. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company. J.P. Morgan, Truist Securities, US Bancorp, BofA Securities, Morgan Stanley, PNC Capital Markets LLC, TD Securities and Wells Fargo Securities are acting as joint book-running managers. A shelf registration statement relating to these securities is effective with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York , 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533; Truist Securities, Inc., Attention: Prospectus Department, 303 Peachtree Street, Atlanta, GA 30308, telephone: 800-685-4786, or e-mail: TruistSecurities.prospectus@Truist.com ; or U.S. Bancorp Investments, Inc., Attention: High Grade Syndicate, 214 North Tryon Street, 26th Floor, Charlotte, NC 28202, or by telephone at: (877) 558-2607. Electronic copies of these documents are also available from the Securities and Exchange Commission's website at www.sec.gov . This press release is neither an offer to purchase nor a solicitation of an offer to sell the notes, nor shall it constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Cousins Properties Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust ("REIT"). The Company, based in Atlanta, GA and acting through the Operating Partnership, primarily invests in Class A office buildings located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. Forward-Looking Statements Certain matters contained in this press release are "forward-looking statements" within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in the Company's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2024 and September 30, 2024 . These forward-looking statements include information about the Company's possible or assumed future results of the business and the Company's financial condition, liquidity, results of operations, plans, and objectives. They also include, among other things, statements regarding subjects that are forward-looking by their nature, such as: guidance and underlying assumptions; business and financial strategy; future debt financings; future acquisitions and dispositions of operating assets or joint venture interests; future acquisitions and dispositions of land, including ground leases; future acquisitions of investments in real estate debt; future development and redevelopment opportunities; future issuances and repurchases of common stock, limited partnership units, or preferred stock; future distributions; projected capital expenditures; market and industry trends; future occupancy or volume and velocity of leasing activity; entry into new markets, changes in existing market concentrations, or exits from existing markets; future changes in interest rates and liquidity of capital markets; and all statements that address operating performance, events, investments, or developments that we expect or anticipate will occur in the future — including statements relating to creating value for stockholders. Any forward-looking statements are based upon management's beliefs, assumptions, and expectations of our future performance, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following: the availability and terms of capital and our ability to obtain and maintain financing arrangements on terms favorable to us or at all; the ability to refinance or repay indebtedness as it matures; any changes to our credit rating; the failure of purchase, sale, or other contracts to ultimately close; the failure to achieve anticipated benefits from acquisitions, developments, investments, or dispositions; the effect of common stock or operating partnership unit issuances, including those undertaken on a forward basis, which may negatively affect the market price of our common stock; the availability of buyers and pricing with respect to the disposition of assets; changes in national and local economic conditions, the real estate industry, and the commercial real estate markets in which we operate (including supply and demand changes), particularly in Atlanta , Austin , Tampa , Charlotte , Phoenix , Dallas , and Nashville , including the impact of high unemployment, volatility in the public equity and debt markets, and international economic and other conditions; threatened terrorist attacks or sociopolitical unrest such as political instability, civil unrest, armed hostilities, or political activism, which may result in a disruption of day-to-day building operations; changes to our strategy in regard to our real estate assets may require impairment to be recognized; leasing risks, including the ability to obtain new tenants or renew expiring tenants, the ability to lease newly-developed and/or recently acquired space, the failure of a tenant to commence or complete tenant improvements on schedule or to occupy leased space, and the risk of declining leasing rates; changes in the preferences of our tenants brought about by the desire for co-working arrangements, trends toward utilizing less office space per employee, and the effect of employees working remotely; any adverse change in the financial condition or liquidity of one or more of our tenants or borrowers under our real estate debt investments; volatility in interest rates (including the impact upon the effectiveness of forward interest rate contract arrangements) and insurance rates; inflation; competition from other developers or investors; the risks associated with real estate developments (such as zoning approval, receipt of required permits, construction delays, cost overruns, and leasing risk); supply chain disruptions, labor shortages, and increased construction costs; risks associated with security breaches through cyberattacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology networks and related systems, which support our operations and our buildings; changes in senior management, changes in the Company's board of directors, and the loss of key personnel; the potential liability for uninsured losses, condemnation, or environmental issues; the potential liability for a failure to meet regulatory requirements, including the Americans with Disabilities Act and similar laws or the impact of any investigation regarding the same; the financial condition and liquidity of, or disputes with, joint venture partners; any failure to comply with debt covenants under debt instruments and credit agreements; any failure to continue to qualify for taxation as a real estate investment trust or meet regulatory requirements; potential changes to state, local, or federal regulations applicable to our business; material changes in dividend rates on common shares or other securities or the ability to pay those dividends; potential changes to the tax laws impacting real estate investment trusts and real estate in general; risks associated with climate change and severe weather events, as well as the regulatory efforts intended to reduce the effects of climate changes and investor and public perception of our efforts to respond to the same; the impact of newly adopted accounting principles on our accounting policies and on period-to-period comparisons of financial results; risks associated with possible federal, state, local, or property tax audits; and those additional risks and environmental or other factors discussed in reports filed with the Securities and Exchange Commission by the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company cannot guarantee the accuracy of any such forward-looking statements contained in this press release, and the Company does not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts Roni Imbeaux Vice President, Finance and Investor Relations 404-407-1104 rimbeaux@cousins.com View original content: https://www.prnewswire.com/news-releases/cousins-properties-announces-pricing-of-senior-notes-offering-302330787.html SOURCE Cousins Properties Stay Informed: Subscribe to Our Newsletter TodayEuropa League table: Lazio still leaders, Roma revitalised
Florida man files class action lawsuit against Netflix over Tyson/Paul fightOn a rare two-game skid, No. 24 Arizona faces DavidsonCHICAGO (AP) — Two-time NBA scoring champion Joel Embiid returned to the Philadelphia 76ers' starting lineup against the Chicago Bulls on Sunday. After missing his first seven shots and ambling deliberately in his left knee brace in the first quarter, the 2023 MVP went on a tear to propel the Sixers to a 108-100 win over the Chicago Bulls. Embiid connected on eight of his next 10 shots in the second quarter for his first 19 points of the game, which lifted Philadelphia to a 62-50 halftime lead. The Sixers stretched it to 19 before holding on for their fourth win in five games, and Embiid finished with 31. “I just got lucky and started making shots,” Embiid deadpanned when he talked to reporters almost 90 minutes after the game. “We just missed shots and we adjusted and we got them in.” Embiid, a seven-time All-Star, added 12 rebounds in his fifth game this season. The 7-foot center had missed the previous seven games because of knee injuries and a three-game suspension for pushing a sports columnist. Embiid finished slightly above his career average of nearly 27.8 points per game in 33 minutes. The Sixers don't play again until Friday thanks to the NBA Cup, so coach Nick Nurse planned to give his star ample work Sunday with a break and recovery time ahead. “All of a sudden he certainly caught fire there with a little bit of variety,” Nurse said. “I know a lot of it seemed like foul-line jumpers, which it was. He snuck in a roll or two and a couple of post-ups. It gave us a lot of confidence.” The Sixers trailed 33-23 after the first quarter. Behind Embiid and a 16-0 run in the second, they took the lead for good. Chicago got within four points twice in the fourth, but Philadelphia closed it out. “We guarded really well and we rebounded extremely well at both ends,” Nurse said. Tyrese Maxey got his first career triple-double as part of the winning formula and clicked with Embiid. Maxey finished with 25 points, 14 assists and 11 rebounds. “It was great, that's who he is,” Maxey said of Embiid. “After he got in the game it's easy, it was easier, man. There was a lot more space out there.” The All-Star trio of Embiid, Maxey and Paul George (12 points) played together for only the second game this season. “Obviously we've got the connection,” Embiid said. "We know when things are not going right, what we need to do. Now it's up to us to make the shots and the plays. “After that first quarter, it just felt like we needed to take more of an ownership as far as getting us back in the game. They're great players.” AP NBA: https://apnews.com/hub/nba
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ST. LOUIS COUNTY — A lawsuit filed this week blames a flawed load of lumber and an improperly mounted forklift for a fiery crash in May that killed a mother and her two young daughters on the first day of summer break. The suit describes details of the crash that were not previously released, including the chaotic scene of bystanders trying to rescue 8-year-old Kenzi Brooks, who was stuck in the car as it went up in flames. The crash happened at about 7:30 a.m. May 24. The girls' mother, Michelle Yaeger, was driving them in a 1998 GMC Yukon along the ramp connecting northbound Interstate 55 to Interstate 270 in St. Louis County. As traffic stopped ahead of her, the lawsuit says, she attempted to pull into the median between the interstate and the off-ramp to avoid colliding with the car in front of her. Instead, she crashed into the back of a truck carrying lumber, which had pulled over into the same median after its driver thought his load was unsecure, the suit says. She and Kenzi died at the scene. "Their bodies were pinned in the 1998 GMC Yukon in such a way that they had to be extracted from the vehicle after the vehicle was towed away from the scene of the collision," the lawsuit says. Kenzi's 10-year-old sister, Natalie Brooks, died at a hospital. Initial reporting said Natalie was not wearing a seatbelt. Monday's lawsuit says Natalie and Kenzi were both properly restrained. The family lived in the Lemay area of St. Louis County. Monday's suit was filed by Yaeger's surviving son, Brendan Yaeger, and the girls' father, Kenneth Brooks. He and Yaeger were no longer in a relationship when the crash happened. They sued the lumber truck driver, David Frazier, and several companies: Frazier's employer, Wil-Sites Truck Lines; HIAB USA, Inc., which manufactures and sells certain trailer-mounted forklifts and mounting systems under the name Moffett; and 84 Lumber Company, which loaded the lumber that was on the truck's trailer. Brooks and Brendan Yaeger's attorney did not respond to a request for comment. Neither did representatives of the three companies. The 39-page suit says the lumber was not secured correctly on the truck bed; the forklift was improperly mounted to the back of the bed; and the driver had not correctly marked the back of the truck with a flag. That left the forklift hanging over the back of the truck bed, the suit describes, exposing the fuel filter and fuel lines to "rupturing and spilling fuel when the subject forklift is involved in a rear impact collision." When Yaeger's Yukon hit the back of the truck, the forklift crashed into the Yukon's hood, windshield and dashboard, pinning Yaeger and Kenzi between their respective seats and the front dashboard. Then the forklift erupted in flames and consumed the Yukon, the suit says. Multiple bystanders tried to help, the suit says. Some talked to Kenzi. Others tried to get Yaeger and Kenzi out of the SUV. One bystander even used a chain and his vehicle to separate the Yukon and the forklift. But the Yukon kept burning. The suit blames the lumber company for not securing the load of wood properly, which caused Frazier to pull over in the first place. It also noted Frazier broke state law by driving in the left lane of the off-ramp; trucks that weigh more than 48,000 pounds are prohibited from driving in the left lanes of highways. The suit also says the forklift was protruding more than 6 feet off the end of the truck, but Missouri law allows an overhang maximum of 4 feet. The suit says the deaths could have been avoided. "Alternative designs were and are both technologically and economically feasible," the lawsuit says, "that would have prevented the injuries suffered by decedents by either changing the location where the subject forklift was transported, improving the rear structure of the subject forklift, or improving the fuel tank, fuel filter, and fuel lines of the subject forklift."Trump: Pete Hegseth Never Flinched Over Risk Of Leaving High-Paying Job Because He Loves America - The Daily Wire
12. Clemson Tigers 10-3 (7-1 Atlantic Coast Conference regular season) What's next: First-round at No. 5 seed Texas, Dec. 21 Head coach: Dabo Swinney (17th season, 180-46 overall) About Swinney: The 55-year-old, who is 6-4 in the CFP, took over during the 2008 season and has won two national titles (2016, 2018). He will take the Tigers to the CFP the first time since the 2020 season and the seventh time overall. Resume The Tigers, the only three-loss team in the 12-team field, were in a must-win situation in the ACC championship game, prevailing on a last-second, 56-yard field goal to defeat SMU 34-31. Clemson lost two games to SEC opponents (Georgia and South Carolina) this season. The Tigers' other defeat came at home to Louisville. The matchup with Texas will be Clemson's first true road game against the SEC this season. Postseason history A nine-time winner of the ACC Championship Game, the Tigers notched a double-figure win total for the 13th time in the last 14 seasons. Along with its two national titles, Clemson reached the title game two other times (2019 and 2015). This will be the first Clemson-Texas matchup. The road to Atlanta It will be a tricky road for the Tigers to reach the CFP title game in Atlanta at a venue familiar to Clemson fans. The Tigers will take at least two and maybe three trips outside of their own time zone to qualify for the final. Names to know QB Cade Klubnik Klubnik, a Texas native, has been taking snaps in crucial situations since a limited role as a freshman in 2022, when he rescued the Tigers in an ACC Championship victory vs. North Carolina. Sporting a 19-8 career record as a starter, Klubnik has thrown for 3,303 yards and 33 touchdowns along with five interceptions this season. He tossed four TDs in the ACC title game Dec. 7 against SMU after receiving All-ACC honorable mention following the regular season. "He's battle-tested," Swinney said. "He has got a lot of experience under his belt. He has had some failure, which has made him better." RB Phil Mafah The senior has racked up 1,106 rushing yards with eight touchdowns this season and has 28 career scores. Mafah has averaged fewer than 17 carries per game, so he makes the most of his opportunities, and at 230 pounds he can be a load to bring down. DE T.J. Parker He's been disruptive on a regular basis, racking up 19 tackles for loss (11 sacks) this season. The 265-pound sophomore helped set the tone in the ACC title game when the Tigers feasted on early SMU mistakes. Parker is tied for the Division I lead with six forced fumbles this season. K Nolan Hauser The freshman joined the Tigers this season with great acclaim and produced a career highlight with a 56-yard game-winning field goal -- the longest in ACC title game history -- to beat SMU at the buzzer. --Field Level MediaNEW YORK , Nov. 26, 2024 /PRNewswire/ -- Rhuna, an advanced event management platform developed by the creators of UNTOLD—ranked #3 globally by DJ Mag and one of the world's largest music festivals—announces its partnership with Plume, the first fully-integrated layer-1 modular blockchain focused on Real World Asset Finance (RWAfi). Reaching over 2 million attendees across 165 events, including partnerships with iconic organizers like UNTOLD Festival, this collaboration is set to revolutionize the $700B+ live events industry with cutting-edge innovation. Building the Future of Onchain Events Rhuna's platform integrates into Plume Network, leveraging its ecosystem of 180+ projects, over 200M transactions, and support from 3.5M testnet users. This partnership enables innovative blockchain solutions that modernize event management, offering capabilities such as: NFT Ticketing & Fraud Prevention : Enabling secure, transparent ticketing with royalties and controlled secondary markets. Real-Time Payments : Supporting fiat and crypto transactions for global flexibility. Advanced AI Analytics & Access Control : Providing optimized event operations through blockchain-backed real-time insights. Community Engagement : Leveraging $RHUNA tokens for loyalty rewards, exclusive experiences, and cross-event benefits, driving long-term attendee value. Rhuna's Proven Track Record Rhuna's platform has already revolutionized event management in the Web2 space, with: 2M+ customers and $3M revenue in 2024, driven by demand from major industry players. Deployment across 165+ stress-tested events, including UNTOLD Festival, which saw 420,000 in attendance in just four days. 65% reduction in operational costs for organizers. 80% time savings for attendees through streamlined event processes. Modular solutions tailored for events of all sizes, from conferences to large-scale festivals. This collaboration amplifies Rhuna's ability to scale globally while delivering cost-effective, engaging, and personalized event experiences. Why This Matters The partnership addresses key challenges in the events industry, combining Rhuna's expertise with Plume's blockchain infrastructure to deliver tangible results, while creating transparent and scalable tools for secure, decentralized event management. " This partnership is a major milestone for the integration of blockchain into real-world industries, " said Chris Yin , CEO of Plume. " With Rhuna's proven success in live events and Plume's infrastructure, we're unlocking the full potential of Web3 to transform how events are managed and experienced. " " We're excited to partner with Plume Network, whose focus on RWAfi and modular blockchain infrastructure perfectly aligns with Rhuna's mission. Plume's technology enhances our platform's scalability, security, and efficiency, helping us deliver seamless, blockchain-powered solutions for event organizers and attendees in real-world asset integration. This partnership is a key step in transforming the events industry, " said Sveatoslav Vizitiu, CEO of Rhuna. About Rhuna Rhuna is a white-label event management platform integrating modular solutions for payments, marketing, ticketing, and analytics into a seamless, blockchain-powered infrastructure. Founded by the creators of UNTOLD, Rhuna's mission is to scale events of all sizes while delivering cost-effective, engaging, and personalized attendee experiences. Learn more at rhuna.io or contact [email protected] . Twitter | Website | Discord | Telegram About Plume Plume is the first fully integrated L1 modular blockchain focused on RWAfi, offering a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. With 180+ projects on its private devnet, Plume provides an end-to-end tokenization engine and a network of financial infrastructure partners, simplifying asset onboarding and enabling seamless DeFi integration for RWAs. Learn more at plumenetwork.xyz or contact [email protected] . SOURCE Plume Network
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A CHRISTMAS party for Buckingham Palace staff spiralled “out of control” with cops called to a nearby bar after glasses were hurled and punches thrown. Trouble flared when up to 50 servants arrived for a pre-arranged All Bar One bash after Palace drinks. A woman believed to be a housemaid aimed a punch at the manager, smashed glasses and was arrested. 4 A Buckingham Palace maid has been arrested for assault after a staff Xmas party descended into a boozy brawl Credit: Getty 4 The incident took place in an All Bar One in Victoria Street, London Credit: Simon Jones 4 Police raced to the bar after 9pm on Tuesday and the woman, 24, was arrested for common assault, criminal damage and being drunk and disorderly (stock image) Credit: Alamy Security tried to calm her down but she continued to throw glasses, it is claimed. A witness to the chaotic scenes said: “I’ve never seen one person get that crazy during a night out. She was on another level.” Police raced to the bar after 9pm on Tuesday and the woman, 24, was arrested for common assault, criminal damage and being drunk and disorderly. She was thrown in a cell for the night and was released almost 24 hours later with a fine. READ MORE ROYAL NEWS EYE SAY Charlotte shares Di's hobby - after fans say she also inherited the ‘Spencer stare’ SMILES BETTER Wills places supportive hand on Kate's shoulder as she greets Qatar's royals A source admitted to The Sun it had been a “tough night” for everyone involved. Another said: “Someone kicked off outside, was smashing glasses, and then got arrested.” Details of the drama emerged as offices across the country hold Christmas parties with warnings they can spiral out of control ahead of Black Eye Friday, or Mad Friday, next week. Royal staff had enjoyed drinks at the Palace at 4pm, with the event passing without incident. Most read in Royals FAIR CARNAGE Horror as Birmingham fairground ride 'collapses' with several people injured STAYING POSITIVE Max George to undergo major heart surgery after terrifying health scare ALL CHANGE Another Rangers executive quits club just a week after key role at club's AGM NEWBORN JOY Huge Scots DJ becomes dad as he reveals baby boy in emotional social media post A group of around 50 including the woman later arrived for a pre-arranged party at the All Bar One — a nine-minute walk away in Victoria Street. One insider told The Sun: “The group walked in and this one girl just got hysterical. Moment raging driver BODYSLAMS man to the floor ‘like something out of a WWE bout’ in horrific CCTV “She started smashing glasses and abusing our staff members, so we had to call the police. “I’ve never seen one person get that crazy during a night out. She was on another level.” Another added: “It had been a crazy night, we were incredibly busy and we had to deal with so many bookings. She started smashing glasses and abusing our staff members, so we had to call the police A witness “We were fully booked and then we had to deal with a party of 50 people on top of that.” The pub has security and is a popular destination for Christmas parties. 'Drunk and disorderly' It is understood Met Police officers also seized its CCTV. A force spokesperson said: “At 21.21hrs on Tuesday, December 10 officers were called to a bar in Victoria Street, SW1, following reports that a customer had smashed glasses and attempted to assault a member of staff. “Officers attended and arrested a 24-year-old woman on suspicion of common assault, criminal damage and being drunk and disorderly. “She was taken into custody and released the following evening having been given a penalty notice for disorder.” A Buckingham Palace spokesperson said: “We are aware of an incident outside the workplace involving a number of Household staff who had previously attended an early evening reception at the Palace. Read more on the Scottish Sun WARMING UP Scots set for 21C swing as temperature rise to bring an end to sub zero freeze HOT BUY Shoppers race to Primark for fleecy £14 hoodie will keep you cosy on frosty days “While this was an informal social gathering, not an official Palace Christmas party, the facts will be fully investigated, with a robust disciplinary process followed in relation to individual staff and appropriate action taken.” Additional reporting by Emily-Jane Heap and Sam Creed 4 The housemaid aimed a punch at a bar manager and smashed glasses Credit: Getty
MARKHAM, ON , Dec. 12, 2024 /CNW/ - Enghouse Systems Limited ENGH announces its fourth quarter (unaudited) and audited year-end financial results for the period ended October 31, 2024 . All figures are denominated in Canadian dollars unless otherwise indicated. Fourth Quarter and Annual Financial Highlights: Revenue increased 2.1% to $125 .7 million from $123 .1 million in the fourth quarter last year and 10.7% for the fiscal year to $502 .5 million from $454 .0 million last year; Recurring revenue, which includes SaaS and maintenance services, grew 1.1% to $88.2 million compared to $87.2 million in Q4 2023, and represents 70.2% of total revenue. For the fiscal year, recurring revenue increased to $346.6 million from $297.6 million in the prior year, an increase of 16.4%, as we continue to see increased demand for SaaS; Results from operating activities decreased to $33 .4 million compared to $35 .7 million in Q4 2023 and increased in the fiscal year to $133 .8 million, from $122 .1 million in the prior year; Net income was $22.6 million compared to $25.1 million in Q4 2023 and $81 .3 million in the fiscal year compared to $72 .2 million last year as we continue to grow our business with a focus on profitability; Adjusted EBITDA decreased to $35 .6 million compared to $37.9 million , while achieving a 28.3% margin for the quarter. Annual adjusted EBITDA was $143.8 million compared to $133 .8 million in the prior year, an increase of 7.5%; Cash flow from operating activities, excluding changes in working capital, was $40 .3 million compared to $43 .5 million in the prior year's fourth quarter and $151 .8 million for the fiscal year compared to $140 .5 million in the prior year. Cash and cash equivalents increased to record levels of $274.2 million as at October 31, 2024 . Fiscal 2024 yielded a third year of consecutive revenue growth following the COVID period, which saw an unprecedented spike in demand for our Vidyo applications. We achieved a significant milestone, with revenue for the fiscal year exceeding $500 million , representing double digit growth of 10.7%. During the year we deployed cash of $43.4 million on acquisitions and returned $53.1 million to our shareholders through dividends. At the same time, we increased our cash reserves to $274.2 million , with no external debt, which positions the Company well for further acquisition growth. We are also pleased to announce record annual SaaS and maintenance services revenue of $346.6 million , an increase of $49 .0 million or 16.4% compared to the prior year. SaaS and maintenance services continue to be an important source of revenue characterized by their predictable and recurring nature. They now represent 69.0% of total revenues for the year compared to 65.6% in the prior year. In addition to the SaaS and maintenance growth, our professional services and hardware revenue showed marked increases for the year. In the current business environment, demand for on-premise, perpetual software licenses has declined as more customers are choosing SaaS solutions that require less upfront capital investment. During this market transition, we continue to focus on maintaining profitability as demonstrated by the 12.6% increase in our net income to $81.3 million from $72.2 million in the prior year. We closed the year with a double digit increase in revenue and net income, significant expansion of our recurring revenue, record cash reserves and no external debt, positioning us to pursue opportunities that meet our acquisition criteria while continuing to pay dividends to our shareholders. The growth in revenue was achieved through our ability to acquire and effectively integrate new acquisitions into our business model. Quarterly dividends: Today, the Board of Directors approved the Company's eligible quarterly dividend of $0.26 per common share payable on February 28, 2025 to shareholders of record at the close of business on February 14, 2025 . Enghouse Systems Limited Financial Highlights (unaudited, in thousands of Canadian dollars) For the period ended October 31 Three months (Unaudited) Twelve months 2024 2023 Var ($) Var (%) 2024 2023 Var ($) Var (%) Revenue $ 125,702 $ 123,129 2,573 2.1 $ 502,505 $ 454,022 48,483 10.7 Direct costs 44,967 41,213 3,754 9.1 175,586 149,999 25,587 17.1 Revenue, net of direct costs $ 80,735 $ 81,916 (1,181) (1.4) $ 326,919 $ 304,023 22,896 7.5 As a % of revenue 64.2 % 66.5 % 65.1 % 67.0 % Operating expenses 47,133 46,115 1,018 2.2 191,464 179,438 12,026 6.7 Special charges 169 117 52 44.4 1,609 2,477 (868) (35.0) Results from operating activities $ 33,433 $ 35,684 (2,251) (6.3) $ 133,846 $ 122,108 11,738 9.6 As a % of revenue 26.6 % 29.0 % 26.6 % 26.9 % Amortization of acquired software and customer relationships (9,322) (11,205) 1,883 16.8 (40,505) (39,605) (900) (2.3) Foreign exchange gains (losses) 1,870 2,753 (883) 32.1 (1,680) 1,266 (2,946) (232.7) Interest expense – lease obligations (126) (164) 38 23.2 (556) (695) 139 20.0 Finance income 2,825 2,581 244 9.5 10,121 6,264 3,857 61.6 Finance expenses (8) (27) 19 70.4 (49) (163) 114 69.9 Other (expense) income (424) 17 (441) (2594.1) 89 (1,950) 2,039 104.6 Income before income taxes $ 28,248 $ 29,639 (1,391) (4.7) $ 101,266 $ 87,225 14,041 16.1 Provision for income taxes 5,607 4,517 1,090 24.1 19,938 14,977 4,961 33.1 Net Income for the period $ 22,641 $ 25,122 (2,481) (9.9) $ 81,328 $ 72,248 9,080 12.6 Basic earnings per share 0.41 0.45 (0.04) (8.9) 1.47 1.31 0.16 12.2 Diluted earnings per share 0.41 0.45 (0.04) (8.9) 1.47 1.31 0.16 12.2 Cash flows from operating activities 31,583 28,318 3,265 11.5 132,071 115,298 16,773 14.5 Cash flows from operating activities excluding changes in working capital 40,270 43,504 (3,234) (7.4) 151,803 140,492 11,311 8.1 Adjusted EBITDA Results from operating activities 33,433 35,684 (2,251) (6.3) 133,846 122,108 11,738 9.6 Depreciation 655 627 28 4.5 2,347 2,451 (104) (4.2) Depreciation of right-of-use assets 1,375 1,491 (116) (7.8) 5,981 6,764 (783) (11.6) Special charges 169 117 52 44.4 1,609 2,477 (868) (35.0) Adjusted EBITDA $ 35,632 $ 37,919 (2,287) (6.0) $ 143,783 $ 133,800 9,983 7.5 Adjusted EBITDA margin 28.3 % 30.8 % 28.6 % 29.5 % Adjusted EBITDA per diluted share $ 0.64 $ 0.69 ( 0.05) (7.2) $ 2.60 $ 2.42 0.18 7.4 Consolidated Statements of Financial Position (in thousands of Canadian dollars) As at October 31, 2024 As at October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 274,240 $ 239,532 Short-term investments 487 827 Accounts receivable 92,348 93,383 Prepaid expenses and other assets 16,100 15,515 Income taxes recoverable - 114 383,175 349,371 Non-current assets: Property and equipment 4,192 3,273 Right-of-use assets 11,473 12,242 Intangible assets 98,594 109,659 Goodwill 309,831 280,241 Deferred income tax assets 26,228 28,884 450,318 434,299 $ 833,493 $ 783,670 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 70,087 $ 67,769 Income tax payable 5,525 - Dividends payable 14,397 12,156 Provisions 1,834 2,238 Deferred revenue 114,080 109,019 Lease obligations 5,344 6,322 211,267 197,504 Non-current liabilities: Income taxes payable - 1,333 Deferred income tax liabilities 10,500 13,340 Deferred revenue 8,094 8,170 Net employee defined benefit obligation 2,081 1,912 Lease obligations 5,744 6,080 26,419 30,835 237,686 228,339 Shareholders' equity Share capital 118,217 107,701 Contributed surplus 9,764 10,404 Retained earnings 446,748 426,397 Accumulated other comprehensive income 21,078 10,829 595,807 555,331 $ 833,493 $ 783,670 Consolidated Statement of Operations and Comprehensive Income ( in thousands of Canadian dollars , except per share amounts) Three months Twelve months Periods ended October 31 2024 (unaudited) 2023 (Unaudited) 2024 2023 Revenue Software licenses $ 15,860 $ 17,467 $ 72,906 $ 80,054 SaaS and maintenance services 88,196 87,196 346,579 297,635 Professional services 18,469 16,483 70,046 67,273 Hardware 3,177 1,983 12,974 9,060 125,702 123,129 502,505 454,022 Direct costs Software licenses 397 622 3,501 2,910 Services 43,043 39,108 165,221 141,802 Hardware 1,527 1,483 6,864 5,287 44,967 41,213 175,586 149,999 Revenue, net of direct costs 80,735 81,916 326,919 304,023 Operating expenses Selling, general and administrative 22,642 23,702 94,303 90,889 Research and development 22,461 20,295 88,833 79,334 Depreciation 655 627 2,347 2,451 Depreciation of right-of-use assets 1,375 1,491 5,981 6,764 Special charges 169 117 1,609 2,477 47,302 46,232 193,073 181,915 Results from operating activities 33,433 35,684 133,846 122,108 Amortization of acquired software and customer relationships (9,322) (11,205) (40,505) (39,605) Foreign exchange gains (losses) 1,870 2,753 (1,680) 1,266 Interest expense – lease obligations (126) (164) (556) (695) Finance income 2,825 2,581 10,121 6,264 Finance expenses (8) (27) (49) (163) Other (expense) income (424) 17 89 (1,950) Income before income taxes 28,248 29,639 101,266 87,225 Provision for income taxes 5,607 4,517 19,938 14,977 Net income for the period $ 22,641 $ 25,122 $ 81,328 $ 72,248 Items that may be subsequently reclassified to income: Cumulative translation adjustment 2,882 12,394 10,249 19,800 Other comprehensive income 2,882 12,394 10,249 19,800 Comprehensive income $ 25,523 $ 37,516 $ 91,577 $ 92,048 Earnings per share Basic $ 0.41 $ 0.45 $ 1.47 $ 1.31 Diluted $ 0.41 $ 0.45 $ 1.47 $ 1.31 Consolidated Statements of Cash Flows ( in thousands of Canadian dollars ) Three months Twelve months Periods ended October 31 2024 (Unaudited) 2023 (Unaudited) 2024 2023 OPERATING ACTIVITIES Net income for the period $ 22,641 $ 25,122 $ 81,328 $ 72,248 Adjustments for non-cash items Depreciation 655 627 2,347 2,451 Depreciation of right-of-use assets 1,375 1,491 5,981 6,764 Interest expense – lease obligations 126 164 556 695 Amortization of acquired software and customer relationships 9,322 11,205 40,505 39,605 Stock-based compensation expense 112 368 1,188 1,639 Provision for income taxes 5,607 4,517 19,938 14,977 Finance expenses and other (income) expense 432 10 (40) 2,113 40,270 43,504 151,803 140,492 Changes in non-cash operating working capital (7,674) (11,624) (7,920) (11,244) Income taxes paid (1,013) (3,562) (11,812) (13,950) Net cash provided by operating activities 31,583 28,318 132,071 115,298 INVESTING ACTIVITIES Purchase of property and equipment, net (516) (453) (1,977) (1,060) Acquisitions, net of cash acquired* - (27,189) (43,448) (55,167) Recovery (payment) of purchase consideration for prior-year acquisitions - 13 171 (999) Sale (purchase) of short-term investments - 65 - (4) Net cash used in investing activities ( 516) (27,564) (45,254) (57,230) FINANCING ACTIVITIES Issuance of share capital 2,990 - 9,085 604 Normal course issuer bid share repurchases (3,088) (425) (5,994) (425) Repayment of lease obligations (1,283) (1,440) (7,030) (7,194) Dividends paid (14,397) (12,159) (53,139) (44,765) Net cash used in financing activities (15,778) (14,024) (57,078) (51,780) Impact of foreign exchange on cash and cash equivalents 1,238 4,018 4,969 8,140 Increase (decrease) in cash and cash equivalents 16,527 (9,252) 34,708 14,428 Cash and cash equivalents - beginning of period 257,713 248,784 239,532 225,104 Cash and cash equivalents - end of period $ 274,240 $ 239,532 $ 274,240 $ 239,532 * Acquisitions are net of cash acquired of nil and $742 for the quarter and year ended October 31, 2024 , respectively and nil and $2,088 for the quarter and year ended October 31, 2023 , respectively. Enghouse Systems Limited Segment Reporting Information (in thousands of Canadian dollars) For the period ended October 31, 2024 Three months Twelve months IMG AMG Total IMG AMG Total Revenue $ 74,731 $ 50,971 $ 125,702 $ 308,920 $ 193,585 $ 502,505 Direct costs (25,900) (19,067) (44,967) (102,390) (73,196) (175,586) Revenue, net of direct costs 48,831 31,904 80,735 206,530 120,389 326,919 Operating expenses excluding special charges (21,235) (13,071) (34,306) (90,871) (47,238) (138,109) Depreciation (416) (239) (655) (1,574) (773) (2,347) Depreciation of right-of-use assets (940) (435) (1,375) (3,870) (2,111) (5,981) Segment profit $ 26,240 $ 18,159 $ 44,399 $ 110,215 $ 70,267 $ 180,482 Special charges (169) (1,609) Corporate and shared service expenses (10,797) (45,027) Results from operating activities $ 33,433 $ 133,846 For the period ended October 31, 2023 Three months Twelve months IMG AMG Total IMG AMG Total Revenue $ 78,578 $ 44,551 $ 123,129 $ 265,311 $ 188,711 $ 454,022 Direct costs (24,337) (16,876) (41,213) (78,788) (71,211) (149,999) Revenue, net of direct costs 54,241 27,675 81,916 186,523 117,500 304,023 Operating expenses excluding special charges (21,807) (10,450) (32,257) (84,493) (45,169) (129,662) Depreciation (485) (142) (627) (1,969) (482) (2,451) Depreciation of right-of-use assets (904) (587) (1,491) (4,184) (2,580) (6,764) Segment profit $ 31,045 $ 16,496 $ 47,541 $ 95,877 $ 69,269 $ 165,146 Special charges (117) (2,477) Corporate and shared service expenses (11,740) (40,561) Results from operating activities $ 35,684 $ 122,108 About - Enghouse Enghouse Systems Limited is a Canadian publicly traded company ENGH that provides mission-critical vertically focused enterprise software solutions. Our core technologies are used for contact centers, video communications, virtual healthcare, education, telecommunications, networks, IPTV, public safety and transit. The Company's two-pronged strategy to grow earnings focuses on both organic growth and acquisitions, which, to date, have been funded through cash flows from operating activities as the Company has no outstanding external debt financing. The Company is organized around two business segments, the Interactive Management Group ("IMG") and the Asset Management Group ("AMG") due to their unique customer segments and technology offerings. Further information about Enghouse may be obtained from the Company's website at www.enghouse.com . Conference Call and Webcast A conference call to discuss the results will be held on Friday, December 13, 2024 at 8:45 a.m. EST . To participate, please call +1-289-514-5100 or North American Toll-Free +1-800-717-1738. Confirmation code: 59402 A webcast is also available at: https://www.enghouse.com/investors.php . The Company uses non-IFRS measures to assess its operating performance. Securities regulations require that companies caution readers that earnings and other measures adjusted to a basis other than IFRS do not have standardized meanings and are unlikely to be comparable to similar measures used by other companies. Accordingly, they should not be considered in isolation. The Company uses Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EBITDA per diluted share as measures of operating performance. Therefore, these collective Adjusted EBITDA measures may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is calculated based on results from operating activities adjusted for depreciation of property and equipment and right-of-use assets and special charges for acquisition related restructuring costs. Management uses Adjusted EBITDA to evaluate operating performance as it excludes amortization of software and intangibles (which is an accounting allocation of the cost of software and intangible assets arising on acquisition), any impact of finance and tax related activities, asset depreciation, foreign exchange gains and losses, other income and restructuring costs primarily related to acquisitions. SOURCE Enghouse Systems Limited View original content: http://www.newswire.ca/en/releases/archive/December2024/12/c8792.html © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
With his presidency ending in a few weeks, Joe Biden’s legacy is only getting messier. For many Democrats, he’s the man to blame for returning Donald Trump to the White House. If only Biden hadn’t selfishly run for reelection, the story goes, Kamala Harris would have had time to mount a better campaign — or maybe the party could have had a proper primary contest to find somebody, anybody, stronger than Biden or Harris. The trouble with that theory is that Democrats haven’t won a presidential election without Biden on the ticket since 1996. Perhaps Barack Obama didn’t really need Biden as his running mate in 2008 and 2012; yet he needed someone for the No. 2 slot, and he evidently thought Biden the best thing available. Democrats at the time should have pondered what that said about their talent pool. If they’d done so, they might have avoided the mistake that really set them up to lose this year — a mistake named Kamala Harris. Elite Democrats knew perfectly well Biden was already showing his age, then 77, when he won the 2020 nomination, but at the height of COVID lockdowns, his lack of cogency and energy wouldn’t be noticed on the campaign trail — because there wouldn’t be a campaign trail. If Biden was the best the party could field at the ticket’s top, though, what was left below him? By making Biden his veep, Obama had missed the chance to elevate a leader from his own generation. And Hillary Clinton, hell-bent on having the White House for herself, sucked all the air out of the 2016 primaries, leaving only enough oxygen for Bernie Sanders to challenge her from the left — which the then-75-year-old Vermont democratic socialist did surprisingly well. Senior Democrats in effect prevented the next generation of leadership from being born — perhaps a fitting thing for a party so fiercely dedicated to abortion. What they had in lieu of fresh presidential material was identity politics. So, fully aware Biden wasn’t fit to be a two-term president, Democrats accepted Harris as his running mate. Her qualification as Biden’s heir apparent wasn’t that she was popular with voters: On the contrary, she never made it to the first primary in her bid for the 2020 nomination, so pathetic were her polls. Nor did Harris represent, like Sanders, an ideological force within the party; her opportunism was already transparent long before she turned repudiating her own words and past policies into the hallmark of her ’24 campaign. What argued for making her Biden’s running mate was simply her race and sex. After all, the central message of Clinton’s campaign four years earlier had been that a woman deserved to be president. How could a party that ran on that not put any woman on its ticket next time? Yet it was also the year of George Floyd, and the party of Black Lives Matter couldn’t afford not to take color into consideration as well. Harris wasn’t popular, she wasn’t principled, but she was ambitious — and she ticked the right boxes. Yet when a party selects candidates this way, it can’t be surprised that it loses, especially after Clinton had already proved identity politics wouldn’t beat Trump. Elite Democrats may blame Biden now, but the truth is they knew all about his condition and still preferred to have him run again rather than risk the party’s fortunes on Harris. There was no one else: The choice was Biden or Harris, and until his debate meltdown — and for some time afterward, in fact — Democratic insiders saw Biden as obviously the stronger candidate. The party sealed its fate in 2020 when it elevated Harris for reasons having nothing to do with electability. Yet Democrats put their philosophy to the test: If race and gender preferences are needed in higher education and corporate America to right the wrongs of racism and sexism, isn’t it all the more important those wrongs be righted with preferences at the highest level, that of presidential politics? But trying to do that landed Democrats with a substitute for Biden who couldn’t win, even with the media branding her opponent an outright fascist. Harris’ campaign has revealed its internal polling never showed her ahead. Biden, Harris, Clinton and Obama led Democrats to a dead end. To escape, the party will have to rethink its identity politics — but given Trump’s gains with black men and Latinos , Democrats may fear any retreat from affirmative action will unravel their already fraying coalition. By rejecting Harris and electing Trump, however, the nation’s voters — of both sexes and all colors — sent Democrats a clear message. The question is whether they’re willing to hear it.On a rare two-game skid, No. 24 Arizona faces Davidson
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