Losses for big technology stocks pulled major indexes lower on Wall Street. The S&P 500 fell 0.4% Wednesday. The Dow Jones Industrial Average slipped 0.3% from its record high a day earlier, and the Nasdaq composite lost 0.6%. Losses for Nvidia, Microsoft and Broadcom were the biggest weights on the market. Dell sank 12.2% after reporting revenue that fell shy of forecasts, and HP dropped 11.4% after giving a weaker-than-expected outlook. Treasury yields fell in the bond market. U.S. financial markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks wavered in afternoon trading on Wednesday, as losses for several Big Tech companies offset gains elsewhere in the market. The S&P 500 fell 0.4% in afternoon trading, even though more stocks were rising than falling in the index. The Dow Jones Industrial Average fell 135 points, or 0.3%, as of 3:05 p.m. Eastern time. Both indexes set records on Tuesday. The Nasdaq composite fell 0.5%. Losses for tech heavyweights helped pull the broader market lower. Semiconductor giant Nvidia slipped 1.6%. Its huge value gives it outsized influence on market indexes. Microsoft fell 0.9% Several personal computer makers added to Big Tech's heavy weight on the market following their latest earnings reports. HP sank 11.8% after giving investors a weaker-than-expected earnings forecast for its current quarter. Dell slumped 11.9% after its latest quarterly revenue fell short of Wall Street forecasts. Gains for financial and health care companies helped counter Big Tech's downward pull. Visa rose 0.9% and Thermo Fisher Scientific added 2.3%. The U.S. economy expanded at a healthy 2.8% annual pace from July through September, according to the Commerce Department, leaving its original estimate of third-quarter growth unchanged. The growth was driven by strong consumer spending and a surge in exports. The update follows a report on Tuesday from the Conference Board that said confidence among U.S. consumers improved in November, but not by as much as economists expected. Consumers have been driving economic growth, but the latest round of earnings reports from retailers shows a mixed and more cautious picture. Department store operator Nordstrom fell 8.5% after warning investors about a trend toward weakening sales that started in late October. Clothing retailer Urban Outfitters jumped 19.1% after beating analysts’ third-quarter financial forecasts. Weeks earlier, retail giant Target gave investors a discouraging forecast for the holiday season, while Walmart provided a more encouraging forecast. Consumers, though resilient, are still facing pressure from inflation. The latest update from the U.S. government shows that inflation accelerated last month. The personal consumption expenditures index, or PCE, rose to 2.3% in October from 2.1% in September. Overall, the rate of inflation has been falling broadly since it peaked more than two years ago. The PCE, which is the Federal Reserve's preferred measure of inflation, was just below 7.3% in June of 2022. Another measure of inflation, the consumer price index, peaked at 9.1% at the same time. The latest inflation data, though, is a sign that the rate of inflation seems to be stalling as it falls to within range of the Fed's target of 2%. The central bank started raising its benchmark interest rate from near-zero in early 2022 to a two-decade high by the middle of 2023 and held it there in order to tame inflation. The Fed started cutting its benchmark interest rate in September, followed by a second cut in November. Wall Street expects a similar quarter-point cut at the central bank's upcoming meeting in December. “Today’s data shouldn’t change views of the likely path for disinflation, however bumpy," said David Alcaly, lead macroeconomic strategist at Lazard Asset Management. "But a lot of observers, probably including some at the Fed, are looking for reasons to get more hawkish on the outlook given the potential for inflationary policy change like new tariffs.” President-elect Donald Trump has said he plans to impose sweeping new tariffs on Mexico, Canada and China when he takes office in January. That could shock the economy by raising prices on a wide range of goods and accelerating the rate of inflation. Such a shift could prompt the Fed to rethink future cuts to interest rates. Treasury yields slipped in the bond market. The yield on the 10-year Treasury fell to 4.25% from 4.30% late Tuesday. The yield on the two-year Treasury, which more closely follows expected actions by the Fed, fell to 4.22% from 4.25% late Tuesday. U.S. markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday. Damian J. Troise And Alex Veiga, The Associated Press
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College Football Playoff's first 12-team bracket is set with Oregon No. 1 and SMU in, Alabama outAllar puts critics on mute, keeps winning for Penn StateFacebook Twitter WhatsApp SMS Email Print Copy article link Save DENVER — Amid renewed interest in the killing of JonBenet Ramsey triggered in part by a new Netflix documentary, police in Boulder, Colorado, refuted assertions this week that there is viable evidence and leads about the 1996 killing of the 6-year-old girl that they are not pursuing. JonBenet Ramsey, who competed in beauty pageants, was found dead in the basement of her family's home in the college town of Boulder the day after Christmas in 1996. Her body was found several hours after her mother called 911 to say her daughter was missing and a ransom note was left behind. The gravesite of JonBenet Ramsey is covered with flowers Jan. 8, 1997, at St. James Episcopal Cemetery in Marietta, Ga. JonBenet was bludgeoned and strangled. Her death was ruled a homicide, but nobody was ever prosecuted. The details of the crime and video footage of JonBenet competing in pageants propelled the case into one of the highest-profile mysteries in the United States. The police comments came as part of their annual update on the investigation, a month before the 28th anniversary of JonBenet's killing. Police said they released it a little earlier due to the increased attention on the case, apparently referring to the three-part Netflix series "Cold Case: Who Killed JonBenet Ramsey." People are also reading... City officials admit Corvallis' flag is 'bad.' Will it change? 2 bucks illegally killed with crossbow in Corvallis The real reason Corvallis' Pastega Lights moved to Linn County Commentary: Gulbranson shows he should be starter in thrilling win over Cougars Head-on crash on Highway 228 kills 1, injures 2 OSU football: Three takeaways from Oregon State's loss at Boise State Linn County deputy resigns during menacing case More allegations against ex-OSU coach Corvallis homes in on layout options for a new government center Corvallis man gets prison for armed robbery case OSU football: Boise State's pass rush is formidable A busy day: A series of crashes in Sweet Home OSU football: Preview and prediction for regular-season finale against Boise State OSU football: Game notes for the Beavers' win over Washington State Prosecutor: Driver on laughing gas caused double fatal in Sweet Home In a video statement, Boulder Police Chief Steve Redfearn said the department welcomes news coverage and documentaries about the killing of JonBenet, who would have been 34 this year, as a way to generate possible new leads. He said the department is committed to solving the case but needs to be careful about what it shares about the investigation to protect a possible future prosecution. "What I can tell you though, is we have thoroughly investigated multiple people as suspects throughout the years and we continue to be open-minded about what occurred as we investigate the tips that come in to detectives," he said. The Netflix documentary focuses on the mistakes made by police and the "media circus" surrounding the case. A police officer sits in her cruiser Jan. 3, 1997, outside the home in which 6-year-old JonBenet Ramsey was found murdered Dec. 26, 1996, in Boulder, Colo. Police were widely criticized for mishandling the early investigation into her death amid speculation that her family was responsible. However, a prosecutor cleared her parents, John and Patsy Ramsey, and brother Burke in 2008 based on new DNA evidence from JonBenet's clothing that pointed to the involvement of an "unexplained third party" in her slaying. The announcement by former district attorney Mary Lacy came two years after Patsy Ramsey died of cancer. Lacy called the Ramseys "victims of this crime." John Ramsey continued to speak out for the case to be solved. In 2022, he supported an online petition asking Colorado's governor to intervene in the investigation by putting an outside agency in charge of DNA testing in the case. In the Netflix documentary, he said he advocated for several items that were not prepared for DNA testing to be tested and for other items to be retested. He said the results should be put through a genealogy database. In recent years, investigators identified suspects in unsolved cases by comparing DNA profiles from crime scenes and to DNA testing results shared online by people researching their family trees. In 2021, police said in their annual update that DNA hadn't been ruled out to help solve the case, and in 2022 noted that some evidence could be "consumed" if DNA testing is done on it. Last year, police said they convened a panel of outside experts to review the investigation to give recommendations and determine if updated technologies or forensic testing might produce new leads. In the latest update, Redfearn said that review ended but police continue to work through and evaluate a "lengthy list of recommendations" from the panel. True crime's popularity brings real change for defendants and society. It's not all good TRAVIS LOLLER Associated Press How The Monkees ended up with an FBI File | Late Edition: Crime Beat Chronicles podcast Lee Media Studio 13 min to read Receive the latest in local entertainment news in your inbox weekly!
( MENAFN - EIN Presswire) Global High Voltage Cable market projected to grow at a CAGR of 6.0% from 2020 to 2027 David Correa Allied Market Research +1 800-792-5285 email us here Visit us on social media: Facebook X Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above. MENAFN08122024003118003196ID1108969366 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
HONG KONG , Nov. 27, 2024 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (Nasdaq: ICLK), a renowned online marketing and enterprise solutions provider in Asia that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced unaudited financial results for the six months ended June 30, 2024 . Six Months Ended June 30, 2024 2023 Percentage change (US$ in thousands) (Unaudited) Financial Metrics: Revenue from continuing operations Marketing Solutions 9,324 12,663 (26) % Enterprise Solutions 4,896 4,330 13 % Total revenue from continuing operations 14,220 16,993 (16) % Gross profit from continuing operations 8,096 9,276 (13) % Net loss from continuing operations (1,269) (10,275) N/M Net loss from discontinued operations (5,104) (18,294) N/M Diluted net loss from continuing operations per American Depositary Shares ("ADS") (0.12) (1.01) N/M Operating Metrics: Gross billing 23,060 29,983 (23) % "I am pleased to report that our continuing operations recorded an improvement in gross margin to 56.9% in the first half of 2024 from 54.6% in the first half of 2023, and we saw the increase in enterprise solutions revenue by 13% year-over-year. The Company will continue to focus on improving the financial performance and cash flows, while exploring strategic opportunities for broader business growth.", said Mr. Jian Tang , Chairman, Chief Executive Officer and Co-Founder of iClick. "We continue monitoring and evaluating operations and market trends proactively in order to optimize our business and enhance profitability. We have recently completed the disposal of our mainland China Enterprise Solutions business and demand side Marketing Solutions business. The results of these businesses are presented under discontinued operations." First Half Year of 2024 Results on Continuing Operations: Revenue for the first half of 2024 was US$14.2 million , compared with US$17.0 million for the first half of 2023. Revenue from Marketing Solutions declined to US$9.3 million for the first half of 2024, compared with US$12.7 million for the first half of 2023. It was resulted from our strategic contraction of lower margin and higher risk businesses, with weaker demand from clients on advertising spending due to uncertainty in the macro-economic environment. Revenue from Enterprise Solutions was US$4.9 million for the first half of 2024, improved from US$4.3 million in the first half of 2023 due to the increasing demand for digital transformation and services. Gross profit for the first half of 2024 was US$8.1 million , compared with US$9.3 million for the first half of 2023. With the effort of reducing lower margin and higher risk businesses, and a rising revenue contribution from the higher-margin Enterprise Solutions business, gross profit margin increased to 56.9% for the first half of 2024 from 54.6% for the first half of 2023. Total operating expenses were US$12.4 million for the first half of 2024, decreased from US$14.1 million for the first half of 2023. The change was primarily due to our cost optimization execution, which resulted in reduction of staff cost and savings on promotional expenses. The expected credit losses provision of trade receivables was also reduced because of our close monitoring of cash collection. Net loss from continuing operations was US$1 .3 million for the first half of 2024, significantly improved from the net loss of US$10.3 million for the first half of 2023, mainly due to no impairment of equity investments in the first half of 2024, which we recorded US$5.6 million in the first half of 2023. Operating loss was reduced by US$0.6 million . Net loss from continuing operations attributable to the Company's shareholders per basic and diluted ADS for the first half of 2024 was US$0.12, compared with a net loss attributable to the Company's shareholders per basic and diluted ADS of US$1.01 for the first half of 2023. Gross billing 1 from continuing operations was US$23.1 million for the first half of 2024, compared with US$30.0 million for the first half of 2023, mainly as a result of our continued strategy of reducing lower margin and higher risk businesses, as well as clients' reduced advertising spending. Net loss from discontinued operations was US$5 .1 million for the first half of 2024, compared with the net loss of US$18.3 million for the first half of 2023, mainly due to cost optimization, and gain on disposal of discontinued operations amounting to US$2 .6 million in the first half of 2024. As of June 30, 2024 , the continuing operations of the Company had cash and cash equivalents, time deposits and restricted cash of US$70.2 million , compared with US$41.3 million as of December 31, 2023 . About iClick Interactive Asia Group Limited Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia . With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com . 1 Gross billing is defined as the aggregate dollar amount that clients pay the Company after deducting rebates paid and discounts given to. Safe Harbor Statement This announcement contains forward-looking statements, including those related to the Company's business strategies, operations and financial performance. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. For investor and media inquiries, please contact: In China: In the United States: iClick Interactive Asia Group Limited Core IR Catherine Chau Tom Caden Phone: +852 3700 9100 Tel: +1-516-222-2560 E-mail: ir@i-click.com E-mail: tomc@coreir.com (financial tables follow) ICLICK INTERACTIVE ASIA GROUP LIMITED Unaudited Condensed Consolidated Statements of Comprehensive Loss (US$'000, except share data and per share data, or otherwise noted, unaudited) Six Months Ended June 30, 2024 2023 Continuing operations Revenue 14,220 16,993 Cost of revenue (6,124) (7,717) Gross profit 8,096 9,276 Operating expenses Research and development expenses (311) (265) Sales and marketing expenses (4,381) (8,826) General and administrative expenses (7,704) (5,052) Total operating expenses (12,396) (14,143) Interest expense (32) (117) Interest income 598 591 Other gains/(losses), net 2,560 (5,756) Loss before income tax expense and share of losses from an equity investee (1,174) (10,149) Share of losses from an equity investee (37) (19) Loss before income tax expense (1,211) (10,168) Income tax expense (58) (107) Net loss from continuing operations (1,269) (10,275) Net loss attributable to non-controlling interests 111 9 Net loss from continuing operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (1,158) (10,266) Discontinued operations Loss from operations of discontinued operations (7,666) (18,305) Income tax (expense)/credit (23) 11 Gain on disposal of discontinued operations 2,585 - Net loss from discontinued operations (5,104) (18,294) Net loss attributable to non-controlling interests 32 49 Net loss from discontinued operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (5,072) (18,245) Net loss (6,373) (28,569) Net loss attributable to iClick Interactive Asia Group Limited's ordinary shareholders (6,230) (28,511) Net loss from continuing operations (1,269) (10,275) Other comprehensive loss: Foreign currency translation adjustment, net of US$nil tax (13) (131) Comprehensive loss from continuing operations (1,282) (10,406) Comprehensive loss from continuing operations attributable to non-controlling interests 111 49 Comprehensive loss from continuing operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (1,171) (10,357) Net loss from discontinued operations (5,104) (18,294) Other comprehensive income: Foreign currency translation adjustment, net of US$nil tax - 301 Comprehensive loss from discontinued operations (5,104) (17,993) Comprehensive loss from discontinued operations attributable to non -controlling interests 32 20 Comprehensive loss from discontinued operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (5,072) (17,973) Comprehensive loss attributable to iClick Interactive Asia Group Limited's ordinary shareholders (6,243) (28,330) Net loss from continuing operations per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.12) (1.01) — Diluted (0.12) (1.01) Net loss from discontinued operations per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.51) (1.79) — Diluted (0.51) (1.79) Net loss per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.63) (2.80) — Diluted (0.63) (2.80) Weighted average number of ADS used in per share calculation: — Basic 9,955,943 10,178,966 — Diluted 9,955,943 10,178,966 ICLICK INTERACTIVE ASIA GROUP LIMITED Unaudited Condensed Consolidated Balance Sheets (US$'000, except share data and per share data, or otherwise noted, unaudited) As of June 30, 2024 As of December 31, 2023 Assets Current assets Cash and cash equivalents, time deposits and restricted cash 70,239 41,264 Accounts receivable, net of allowance for credit losses of US$1,558 and US$1,571 as of June 30, 2024 and December 31, 2023 respectively 11,210 13,535 Other current assets 15,813 11,516 Discontinued operations 54,454 93,488 Total current assets 151,716 159,803 Non-current assets Other assets 3,727 3,596 Discontinued operations 112 305 Total non-current assets 3,839 3,901 Total assets 155,555 163,704 Liabilities and equity Current liabilities Accounts payable 3,310 4,462 Bank borrowings 36,932 1,965 Other current liabilities 23,830 20,200 Discontinued operations 56,607 93,445 Total current liabilities 120,679 120,072 Non-current liabilities Other liabilities 221 551 Discontinued operations 1,463 1,829 Total non-current liabilities 1,684 2,380 Total liabilities 122,363 122,452 Equity Ordinary shares – Class A (US$0.001 par value; 80,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 38,752,446 shares and 44,477,356 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) 39 45 Ordinary shares – Class B (US$0.001 par value; 20,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 5,034,427 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) 5 5 Treasury shares (218,396 shares and 6,398,616 shares as of June 30, 2024 and December 31, 2023, respectively)Colts vs. Patriots injury report includes 5 ruled out, 10 questionable | Sporting News
Indian-origin OpenAI whistleblower dies by suicide in SFO homeIn the past few years, state and local governments across the U.S. have begun spending billions in opioid settlements paid by companies accused of fueling the overdose crisis. But where is that money going, who is getting it, and is it doing any good? KFF Health News, partnering with the Johns Hopkins Bloomberg School of Public Health and Shatterproof , a national nonprofit focused on addiction, undertook a yearlong investigation to find out. Dozens of interviews, thousands of pages of documents, an array of public records requests, and outreach to all 50 states resulted in a first-of-its kind database that catalogs more than 7,000 ways opioid settlement cash was used in 2022 and 2023. It’s the most comprehensive resource to date tracking some of the largest public health settlements in American history. Among the findings: --States and localities received more than $6 billion in opioid settlement funds in 2022 and 2023. According to public records, they spent or committed about a third of that amount and set aside about another third for future use. The final third was untrackable, as many jurisdictions did not produce public reports on the funds. --Reports of spending tracked the minuscule to the monumental, from $11.74 to buy postage in Yavapai County, Arizona, to more than $51 million to increase the addiction treatment workforce in California. --States allotted, on average, about 18% of their funds for addiction and mental health treatment; 14% for recovery services such as housing, transportation, and legal aid; 11% for harm reduction efforts such as overdose reversal medications; and 9% for prevention programs that aim to stop people from developing substance use disorders. States committed, on average, about 2% for syringe service programs, through which people can get sterile needles. (A variety of entities received this money, from law enforcement to nonprofit organizations to government agencies.) --Governments reported spending more than $240 million on purposes that did not qualify as opioid remediation. (Most settlements allow states to spend up to 15% of their funds this way.) Most of this tranche went to legal fees, but several jurisdictions funneled money to their general fund. One county even sent funds to its road and bridge department. --Several cities and counties reported expenditures they said addressed the overdose crisis but that would leave an average person scratching their head — such as $33.07 to an anti-abortion pregnancy center in Sandborn, Indiana, and $30,362 to screen first responders for heart disease in Oregon City, Oregon. “When people know that people aren’t watching and there’s no accountability, then they can kind of do what they want,” said Tonja Myles , a community activist in Baton Rouge, Louisiana, who is in recovery. “That’s why we have to have some kind of database and accountability.” Despite the recent decline in overall overdose deaths in the U.S., more than 90,000 people still died in the 12 months ending July 2024 and rates are rising in many Black and Native American communities . “We can’t mess up or miss this moment,” Myles said. Opioid settlement payouts are expected to total about $50 billion over nearly two decades, paid by more than a dozen companies that made or distributed prescription painkillers, including Johnson & Johnson, Walgreens, and Walmart. Although it’s a large sum, it’s dwarfed by the size of the crisis, making each dollar that’s spent critical. KFF Health News and its partners reviewed hundreds of settlement spending reports, extracting expenditures line by line, and developed a methodology to sort the expenditures into categories like treatment or prevention. States were given an opportunity to review the data and comment on their spending . To be sure, the database does not capture the full picture of opioid settlement spending nationwide. Some places do not publish spending reports, while others declined to engage with this project. The data presented here is a snapshot as of the end of 2023 and does not account for further spending in 2024. The differences in how states control , process , and report on the money make apples-to-apples comparisons nearly impossible. Still, the database helps fill a gap left by a lack of national reporting requirements and federal government inaction . It is “a tool for those who want to objectively measure whether everything that can be done is being done,” said Matthew Myers, a former president of the Campaign for Tobacco-Free Kids, which compiles similar annual reports on tobacco settlement money. Treatment a Clear Winner The top priority to emerge from early opioid settlement spending was treatment, with more than $416 million spent or committed to residential rehabs, outpatient counseling, medications for opioid use disorder, and more. The state of New York — which spent the most on treatment — allocated about $22 million of that for programs that make the gold standard for care as easy as possible for patients: providing same-day prescriptions for buprenorphine, a medication that decreases cravings for opioids. The result was a program that John Greene said changed his life. Greene, 57, used to live in the woods down the street from Family & Children’s Counseling Services in Cortland, New York. He cycled through jails and hospitals, overdosing half a dozen times and trying rehab just as many. But now he has four months of recovery under his belt — the longest stint since he started regularly using drugs at 14. He said it’s because the counseling center’s new program — funded by a mix of state and local opioid settlement dollars — has a different approach. Counselors aren’t didactic and judgmental. They don’t force him to stop smoking marijuana. Several staff members have experienced addiction themselves. They drive Greene, who doesn’t have a car, to doctor appointments and the pharmacy for his buprenorphine prescription. Now Greene lives and works with his brother, looks forward to weekly counseling sessions, and is notching small victories — such as buying his nephew toy cars as a stocking stuffer. “It made me feel good to do something for somebody and not expect nothing back,” Greene said. Emily Georgia , one of Greene’s counselors, said the center has worked with nearly 200 people like him in the past year. Without the settlements, “the program probably wouldn’t exist,” she said. Across the country, the money supports other innovative treatment approaches: --$21 million for a new program in Kentucky that diverts people with mental illness or addiction who face low-level charges away from incarceration and into treatment, education, and workforce training --More than $3 million for, in part, three new mobile methadone programs in Massachusetts, to bring the medication to rural and underserved areas --Tens of thousands of dollars each in Iowa and Pennsylvania to cover out-of-pocket treatment costs for people without insurance or those with high deductibles Philip Rutherford , an expert on substance use disorder at the National Council for Mental Wellbeing, said these efforts “are really positive” and many have been “historically difficult or impossible to achieve with federal or state funding.” But some funds are also flowing to treatment approaches that defy best practices, such as denying people medications for opioid use disorder. Some in the recovery community consider methadone and buprenorphine a crutch. But study after study show that the medications help people stay in treatment and reduce the risk of overdose and death . Research even suggests that treatment without these medications can be more harmful than no treatment at all. Although not everyone will want medication, settlement funds shouldn’t “prop up a system that doesn’t allow people to have that choice,” said Regina LaBelle , a professor of addiction policy at Georgetown University. Babies, Forgotten Victims of the Epidemic While treatment received a windfall in early opioid settlement spending, another aspect of the crisis was neglected: neonatal abstinence syndrome , a condition in which babies exposed to drugs in the womb experience withdrawal. Nationwide, more than 59 newborns a day are diagnosed with it. Yet only about $8.4 million in settlement money was committed to the issue — less than 0.5% of all funds publicly reported as spent or committed in 2022 and 2023. Experts in public health and addiction, as well as affected families, say it’s due to stigma. “A mom using drugs and being a parent is a very uncomfortable reality to face,” said Ashley Grant, a 38-year-old mother of three in Mesa, Arizona. “It’s easier to just push it under the rug or let them fall through the cracks, as sad as that is.” It almost happened to her. Grant learned she was pregnant with her third child last year. At the time, her partner was in jail and she was using drugs after an eight-year period of recovery, was estranged from her family, and didn’t know how she’d survive the next nine months. During a visit to a methadone clinic, she saw a booth about Jacob’s Hope , a specialty nursery that cares for substance-exposed newborns and their moms. Nursery staff connected her with a therapist, helped her enroll in parenting classes, and dropped off diapers and a playpen at her home. After delivering at the hospital, Grant and her baby boy stayed at Jacob’s Hope for about a week. Nurses showed her how skin-to-skin contact calmed his withdrawal symptoms and more frequent feedings and burpings decreased gastrointestinal discomfort, which is common among substance-exposed newborns. Today, Grant has roughly five months of recovery. She got certified as a peer recovery specialist and hopes to join Jacob’s Hope one day to help moms like her. But the nursery’s future is uncertain. After opening in 2019, Jacob’s Hope nearly shut down this summer due to low reimbursements and delayed payments from insurers, said Lyndsey Steele , its associate director. Community donations kept the nursery afloat, but “it’s still hanging on by a thread,” she said. She’s hoping opioid settlement money can help. In 2022, Jacob’s Hope received about $250,000 from Arizona’s opioid settlements. But this year, the legislature captured the state’s share of remaining funds and, in a controversial move , gave it to the Department of Corrections. Jacob’s Hope has now turned to local governments, which control their own settlement dollars. Its home city of Mesa said a first round of grant applications should open in the spring. Steele prays it won’t be too late for babies in need — the epidemic’s “forgotten victims,” she called them. Heart Disease Screening, Robot Ambulances, and More Some opioid settlement expenditures have sparked fierce disagreement. They generally fall into three buckets: money for law enforcement , funding for youth prevention programs , and purchases unrelated to the opioid crisis. Settlement dollars nationwide have bought body scanners , K-9 units , bulletproof vests , patrol trucks , and laptops and printers for police and sheriffs. Some spending strayed even further from the spirit of the settlement. In Oregon City, Oregon, more than $30,000 was spent on screening first responders for heart disease. Police Chief Shaun Davis said his staff respond to opioid-related emergencies and experience trauma that increases their risk of heart attack. But some people question if settlement funds should be footing the bill. “This looks to me like you’re trying to defray other costs” from the police budget, said Stephen Loyd , chair of Tennessee’s Opioid Abatement Council. “I don’t think that there’s any way that this opioid money was earmarked for stuff like that.” A second area of contention is youth prevention. Although most people agree that stopping children from developing addictions is important, the execution is tricky. Nearly half a million settlement dollars have gone to the Drug Abuse Resistance Education program, commonly known as D.A.R.E. Decades of research suggest its original curriculum is ineffective . Robeson County, North Carolina, spent about $10,000 in settlement money to buy “ Andy the Ambulance ,” a robot ambulance with big eyes and an audio system through which a human operator can discuss the dangers of drugs. EMS Director Patrick Cummings said his team has taken the robot to churches and elementary schools. We “don’t have any studies that show it’s working,” he said, but educating kids seems like a good investment because “if they never try it, they don’t get addicted.” Then there’s the chunk of money — up to 15% of each state’s funds — that’s a free-for-all. Flint, Michigan, spent nearly $10,000 on a sign for a community service center. The city reported that the expense did not qualify as “opioid remediation.” In other words, it’s unrelated to addressing the crisis. But Caitie O’Neill, a city spokesperson, said that “the building sign makes it possible for residents to find” the center, which houses city services, “including Narcan kits, fentanyl testing strips, and substance abuse referrals.” Jurisdictions across 29 states reported non-remediation spending in 2022 and 2023. Most opioid settlements require such reports but operate on an honor system. No one is checking if the other 21 states and Washington, D.C., were truthful. Jackie Lewis, an Ohio mother whose 34-year-old son, Shaun, died of an overdose in October 2022, finds that hard to stomach. “This is blood money,” she said. Some people have “lost sight of that.” Lewis is raising Shaun’s daughter, ensuring the 9-year-old receives counseling at school and can attend the hip-hop music classes she enjoys — all on Lewis’ Social Security payments. This year they moved to a smaller town with lower costs. As settlement funds continue flowing, she wants officials in charge of the money to help families like hers. “We still exist and we’re still struggling,” she said. KFF Health News’ Henry Larweh and Megan Kalata, Johns Hopkins Bloomberg School of Public Health’s Sara Whaley and Vivian Flanagan, and Shatterproof’s Kristen Pendergrass and Sahvanah Prescott contributed to this article. The Johns Hopkins Bloomberg School of Public Health has taken a leading role in providing guidance to state and local governments on the use of opioid settlement funds. Faculty from the school collaborated with other experts in the field to create principles for using the money , which have been endorsed by over 60 organizations. Shatterproof is a national nonprofit that addresses substance use disorder through distinct initiatives, including advocating for state and federal policies, ending addiction stigma, and educating communities about the treatment system. Shatterproof is partnering with some states on projects funded by opioid settlements. KFF Health News, the Johns Hopkins Bloomberg School of Public Health, and the Shatterproof team who worked on this report are not involved in those efforts. ( KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs of KFF — the independent source for health policy research, polling and journalism.) ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.
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Omnicom Group is in advanced negotiations to acquire direct U.S. rival Interpublic Group in a deal that could merge two Madison Avenue giants and fundamentally recalibrate the advertising industry as it grapples with the ongoing decline of many of its traditional practices. The two companies could announce as early as Monday that Omnicom plans to purchase Interpublic in an all-stock deal that could value the latter at between $13 billion and $14 billion without debt, according to a person familiar with the situation. Representatives for Omnicom and Interpublic did not respond to queries seeking comment. The Wall Street Journal previously reported on the pact. The pact will bolster Omnicom’s standing among a handful of large holding companies that dominate the sector, but have been struggling to develop new lines of revenue as the industry’s best-known products — glitzy TV commercials and print ads — are seen as less effective in spurring consumer purchases and response. Omnicom is known for its longstanding relationships with blue-chip marketers such as PepsiCo and Apple, and houses units such as BBDO, TBWA Worldwide and Omnicom Media Group. While it has only infrequently been seen as blazing new frontiers in digital practices, it closed a deal in January to buy Flywheel, a specialist in digital commerce. Interpublic, meanwhile, has worked to build up new competencies in digital marketing and mining the consumer data that often comes with it. Under CEO Philippe Krakowsky , Interpublic has been shedding some of its traditional agencies, such as Deutsch New York, Hill Holliday and Huge, while buying up the bulk of Acxiom Corp. in 2018 and, more recently, acquiring Intelligence Node, a specialist in retail data. The companies may not have much overlap when it comes to clients. Interpublic once served as a big home to clients such as Coca-Cola and Amazon, but many Coke accounts have migrated to the agencies of U.K. ad giant WPP, while Interpublic lost Amazon’s massive media business earlier this year to WPP and Omnicom. “There is tremendous industrial logic to two large agency groups combining,” said Brian Wieser, an industry analyst, in a research note issued Sunday. In addition to cutting back-office costs, he said, “the removal of one significant globally capable agency group would help improve competitive dynamics in the favor of all agencies when large clients seek to play agencies against each other in order to drive pricing for services down.” Both companies recently had an occasion to work together, with Interpublic, Omnicom and French rival Publicis Groupe all agreeing to acquire a small interest in the ad-tech firm Mediaocean, which helps advertisers and agencies monitor invoicing and payments for their purchases of media inventory in which they can run their commercials. Omnicom has explored mergers in the past. In 2013, Omnicom and Publicis struck a deal to merge , but the agreement unraveled months later over disputes over which management group would oversee a combined entity. Combining Omnicom and Interpublic would mark an achievement for Omnicom CEO John Wren , who has presided over the marketing-services giant for decades, and would, through the deal, create a formidable rival to WPP and Publicis. A bigger Omnicom would also gain new leverage with both the marketing giant it serves and the media outlets with which it negotiates to place ads and promotions.Expelled Syrian President Bashar al-Assad’s whereabouts have been revealed after fleeing Syria. Assad, along with his family, have arrived in Moscow on Sunday and granted asylum, according to the TASS news agency, which received the information from a Kremlin source. “Assad and his family members have arrived in Moscow. Russia, for humanitarian reasons, has granted them asylum,” the source said. In Syria, celebrations are taking place after rebels captured the capital of Damascus, triggering the collapse of Assad’s government and the end of his 24-year reign. Assad left with his wife and two children, their location remaining unknown until now. “At long last, the Assad regime has fallen. This regime brutalized and tortured and killed literally hundreds of thousands of innocent Syrians. The fall of the regime is a fundamental act of justice,” U.S. President Joe Biden said after the overtaking. “It’s a moment of historic opportunity for the long-suffering people of Syria to build a better future for their proud country. It’s also a moment of risk and uncertainty as we all turn to the question of what comes next.” A popular LA radio host has died at 44 years old, loved ones said. Robin Ayers, a personality on KBLA 1580 Talk, died on Thursday, according to fellow broadcaster Tavis Smiley .Her cause of death has not been released. “Robin was a bright light. You could see her radiant smile through the radio. We all respected her immense talent, loved her jovial spirit, celebrated her love of family, and honored her faith in God," Smiley wrote on X. “Our thoughts and prayers are with Robin’s entire family, most especially her husband Rob and her twin daughters Brooklyn and Madison.” On Friday, KBLA Talk 150 opened up phone lines and listeners could call in and talk about Ayers and their memories of the star, who was also an entertainment reporter. Prior to being a host for “The RA Report with Robin Ayers,” she was a stylist in Hollywood for 15 years. Her last Instagram post showed Ayers spending time with her family in New York City, where they celebrated Thanksgiving and her twin daughters' 18th birthday. If you’re trying to pick up gifts for the loved ones on your list, here’s a tip: everyone appreciates the gift of softer and more manageable hair and skin. 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The Disney sequel won the box office for the second week in a row, earning $52 million over the post-Thanksgiving weekend. It’s the largest total ever for the post-holiday weekend, besting Disney’s own Frozen 2 ($35.1 million) for the crown. Wicked followed its fellow musical for the No. 2 title, earning $34.9 million throughout the weekend. The film, the first in the two-part tale, became the highest-grossing Broadway musical adaptation of all time. Gladiator II completed the trifecta for a second week in a row, earning $12.4 million. The weekend also saw the return of Christopher Nolan’s Interstellar, which played in various IMAX theaters for its 10th anniversary. The film scored at No. 6 for the weekend with $4.5 million. New York Police Department detectives arrived in Atlanta on Saturday as the search for the UnitedHealthcare assassin continues. Officers traveled to the Georgia city after receiving a large number of tips linked to the yet-to-be unidentified suspect wanted in the murder of healthcare CEO Brian Thompson, ABC News reported . The Atlanta Police Department confirmed the arrival of NYPD officers, but reportedly declined to provide additional details. The suspected shooter allegedly arrived in New York on Nov. 24 on a Greyhound bus from Atlanta . On Dec. 4, the masked gunman shot Thompson at point-blank range outside the New York Hilton Midtown, where the insurance executive’s company was holding an investors conference. After the shooting, police say that the suspected gunman boarded a bus out of New York City. NYPD Commissioner Jessica Tisch described the murder as “brazen” and “targeted.” And, while the suspect remains at large, authorities released new images of the suspected shooter on Saturday and investigators are said to have followed leads in multiple states. 🚨UPDATE: Below are photos of a person of interest wanted for questioning regarding the Midtown Manhattan homicide on Dec. 4. The full investigative efforts of the NYPD are continuing, and we are asking for the public's help—if you have any information about this case, call the... https://t.co/U4wlUquumf pic.twitter.com/243V0tBZOr Scouted selects products independently. If you purchase something from our posts, we may earn a small commission. As any true audiophile already knows, Amazon Music Unlimited has long been a reliable destination for an elevated listening experience. With millions of high-quality songs and an unparalleled collection of top ad-free podcasts, the platform’s catalog is curated to capture both your attention and your imagination. Now, Amazon is raising the bar with an exciting update: Audible is officially joining Amazon Music Unlimited, cementing the brand’s status as an all-in-one audio hub . Audible’s industry-leading catalog of audiobooks features an expansive selection of can’t-miss bestsellers, hot-off-the-press exclusives, and timeless classics to immerse yourself in. As an Amazon Music Unlimited subscriber, you’ll be free to select one book each month (of any length) and listen to it directly in the Amazon Music app . Whether you’re a fiction buff ready to dive into a thrilling new adventure or a non-fiction enthusiast looking to expand your horizons, Audible’s expansive collection is sure to have the right title that matches your tastes. Plus, when you’re ready to take a break from the book, you can seamlessly swap back to your favorite tunes and podcast episodes —all without having to leave the app. It’s all the audio that you’ll ever need, all in one place! Best of all, this game-changing update is arriving just in time for the holiday season: start a new subscription , and enjoy your first three months of Amazon Music Unlimited, completely for free. Audio art, conversation, and storytelling—all in one place. What’s not to love? Sign up today and get lost in the sound . Mariah Carey shut down rumors that her new Christmas video was generated by artificial intelligence, claiming bad lighting and red lipstick were to blame for the odd visuals. Carey, who filmed a Christmas-themed video thanking her fans, had commenters questioning if the video was actually real with one user writing, “that is AI for sure!!” Another chimed in, “Definitely AI. It’s always something off with the eyes.” The clip, which celebrated the 30th anniversary of her album, “Merry Christmas,” was made for Spotify Wrapped, and shown to users who counted Carey as one of their most-listened artists. Carey responded to the backlash from the video, saying it was the red lipstick and lighting throwing viewers off. “Bad lighting and a red lip have you all thinking this is AI?? There’s a reason I’m not a fan of either of those things,” she wrote on X. One fan responded, “It must be hard being so gorgeous that nobody believes you’re real.” . @MariahCarey with an exclusive message for her top fans on Spotify Wrapped. pic.twitter.com/ODo5DHW5ih A $2 million dollar home in Nantucket was broken into by high schoolers after the homeowner ignored their AirBnB request. The owner, Edith Stone Lentini, received rental request for the home for Oct. 28 about a Halloween party for 14-15 year olds. “My daughter wants to throw a little Halloween party for her and her friends and I was wondering if that’s possible,” the AirBnB rental request message read, obtained by the Nantucket Current . “I would be there to monitor the kids and it would just be a fun get together.” After ignoring the “sketchy” request, a police officer called her one night informing her a rager was being thrown at the house. Police told Lentini that the high schoolers broke in through an unlocked window, and threw the party despite the ignored request. The teenagers took extraordinary caution, however: rolling up the white rug, taking all the pictures off the walls, moving furniture aside and more. “As much as I’m upset about this, they did take care of the house,” Lentini told the Nantucket Current. “The most damage was just sticky floors. They even put ‘do not enter’ tape around the TV stand.” The house rents for $5,500 a week in the summer, and was worth an estimated $2.3 million. Photos of the home can be seen on realtor.com , with the last sale in 2012 for $1.3 million. CNN political commentator Alisyn Camerota announced on Sunday she would leave the network. “Big News, Everyone! — today is my last day on CNN,” she wrote on Instagram, sharing that her sign-off would be early Sunday evening. Camerota joined the network in 2014 after a 16-year stint at Fox News, hosting its New Day morning show for years alongside Chris Cuomo before a move to afternoons in 2021. After Warner Bros. Discovery assumed control of CNN, Camerota floated through various positions at the network, including as its 11 p.m. host before an eventual floating role as a political commentator and fill-in anchor. Camerota disclosed in July that her husband of nearly 23 years, Tim Lewis, died after a battle with stage 4 pancreatic cancer. “I cannot imagine any human being soldiering through a devastating diagnosis with more humor, humility and bravery than Tim,” she wrote on Instagram at the time. “He was a phenomenal father, husband, friend and role model and the rest of us are left trying to follow in his footsteps.” Aside from her role at CNN, where she won two Emmys and an Edward R. Murrow award, Camerota is a best-selling author, publishing both a children’s book and a memoir. Her memoir, Combat Love, is being adapted for film and television. Barry Keoghan addressed his abrupt departure from Instagram after he deactivated his account on the platform Friday night. The actor took to X asking fans be “respectful” of him and his loved ones after his name was “dragged across the internet” following news of his breakup with Sabrina Carpenter on Tuesday. Since their split, internet rumors have swirled that Keoghan cheated on the pop star. Some suggested he had a tryst with influencer Breckie Hill, a claim Hill seemingly confirmed when she re-posted a TikTok about their speculated romance. Keoghan, however, made no mention of Hill in his statement. “The messages I have received no person should ever have to read them. Absolute lies, hatred, disgusting commentary about my appearance, character, how I am as a parent, and every other inhumane thing you can imagine,” the actor wrote , accusing trolls of “Knocking on my grannies door. Sitting outside my baby boys house intimidating them.” Keoghan, who has a young son, also pleaded with social media users to think of his child before they post about him. “I need you to remeber (sic) he has to read ALL of this about his father when he is older,” he said. Please be respectful x pic.twitter.com/N03eHAIbC8 Scouted selects products independently. If you purchase something from our posts, we may earn a small commission. If you’re looking to revamp your at-home fitness lineup ahead of 2025 and don’t have hours to commit to exercising each day, allow us to introduce you to the CAROL Bike . The science-backed and AI-powered fitness bike is engineered to give you maximum results in the shortest time possible—and by the shortest time, we mean as little as five minutes. In fact, according to the brand, the CAROL bike is “proven to deliver double the health and fitness benefits in 90 percent less time compared to regular cardio.” Free Returns | Free Shipping Not only is it a huge time-saver, but the CAROL Bike is also designed to be personalized to the rider’s individual fitness levels, goals, and preferences, making the workouts easy to follow, time-efficient, and super effective. CAROL’s AI and Reduced Exertion HIIT (REHIT) technology optimizes the workout to your ability and fitness level, so every second matters. The personalized, optimal resistance levels are automatically adjusted as you work out—at exactly the right time—making the most efficient workouts easy to follow. “ CAROL Bike is designed to maximize training efficiency, with the shortest, most effective workouts, backed by science. And new rider-inspired features that give riders more flexibility to exercise their way,” says Ulrich Dempfle, CEO & Co-Founder at CAROL. You can try the CAROL Bike for yourself risk-free for 100 days, and the brand offers free shipping (7-10 business days) in the U.S. Oppenheimer star Emma Dumont confirmed to TMZ via a rep that they are now using they/them pronouns as a trans-masculine and non-binary person. “They identify as a trans masculine non-binary person. Their work name is still going to be Emma Dumont, but they will go by Nick with friends and family,” said the rep, adding that Dumont will go by Emma professionally. Dumont is best-known for portraying Oppenheimer’s sister-in-law Jackie Oppenheimer in the 2023 Oscar-winning blockbuster. They have also portrayed Lorna Dane/Polaris in Fox’s 2017 X-men adaptation series The Gifted , also scoring a role in Paul Thomas Anderson‘s Licorice Pizza . Next they are set to star in a film called The New Me , about a young mother struggling to connect with her baby and husband, according to IMDb . The film does not have a release date yet, but Dumont has updated their listed pronouns on Instagram to reflect their life update. “Only call me Nick if ur cool okay?” they wrote on their updated Instagram profile. The family of Duck Dynasty star Phil Robertson, 78, said he is in the “early stages” of Alzheimer’s and battling another blood-born disease that is “causing problems with his entire body.” Robertson’s son Jase broke the news Friday on an episode of the Unashamed with the Robertson Family podcast. “Phil’s not doing well. We were trying to figure out the diagnosis, but according to the doctors, they are sure that he has some sort of blood disease causing all kinds of problems,” said Jase, 55. He added, “And he has early stages of Alzheimer’s. So, if you put those things together, he’s just not doing well.” Robertson rose to fame with the popularity of the hit 2012 A&E show, which followed the Louisiana family of seven as they operated their lucrative duck call and decoy business, Duck Commanders. When the show ended in 2017, Robertson became a conservative figurehead with his support of President-elect Donald Trump . According to Jase, Robertson is hoping to return to hosting the podcast. “I’m like, ‘Well Phil, you can barely walk around without crying out in pain, and your memory is not what it once was,’” said Jase. “He’s like, ‘Tell me about it.’”Michigan diesel engine manufacturer to create 436 jobs with $285M expansionUS retailers attempt to stir excitement during shorter holiday shopping season
ExxonMobil ( XOM -0.01% ) and the rest of the energy sector are down big in the past month as oil prices hover around their lowest levels in a year. But the company has plans to drive shareholder returns even at mediocre oil prices. Here's why ExxonMobil is well-positioned to substantially grow its earnings and cash flow in the coming years and why it stands out as a compelling dividend stock to buy in 2025. A clear outline for future growth On Dec. 11, ExxonMobil updated its corporate plan and extended its targets from 2027 out to 2030. Between 2019 and the third quarter of 2024, ExxonMobil achieved $11 billion in structural cost savings, grew earnings and cash flow, lowered its greenhouse gas emissions, and returned $140 billion to shareholders through buybacks and dividends. By 2030, the company expects to achieve an additional $7 billion in structural cost savings, bringing the total to $18 billion versus 2019. In addition to oil and gas, ExxonMobil is investing heavily in low-carbon technologies like carbon capture and storage and hydrogen. The company believes that carbon capture can help it deliver lower emissions power for data centers with projects that are fully detached from the grid. By 2030, ExxonMobil expects to grow annual cash flows by $30 billion compared to 2024 or by $50 billion since 2019, and earnings by $20 billion versus 2024 or $35 billion since 2019. These forecasts are based on $65 per barrel Brent crude oil prices and $3 per MMBtu Henry Hub natural gas prices. For context, Brent crude oil prices averaged $81.13 per barrel from January through November 2024, and Henry Hub gas prices averaged $2.12 per MMBtu during that period. Aside from 2020, 2024 has seen the lowest gas prices since 1998. Between 2025 and 2030, ExxonMobil expects to generate $165 billion in surplus cash above its existing dividend, leaving plenty of room for sizable dividend raises and buybacks. The cash surplus is basically the margin of error ExxonMobil has compared to its target oil and gas prices. If prices hit a downturn, ExxonMobil can still afford to raise its dividend but may buy back less stock. ExxonMobil said that at $55 per barrel Brent, it would expect to earn $110 billion in cash surplus. By comparison, if Brent prices average $85 during the forecast period, the surplus would be around $280 billion. ExxonMobil expects it can still fund its capital projects and its dividend even if Brent prices were just $35 through 2027 and $30 per barrel by 2030 -- illustrating how far the company has come in optimizing its production portfolio. The dividend is an integral part of the investment thesis for ExxonMobil. Despite ebbs and flows in the oil and gas industry, ExxonMobil has raised its dividend for 42 consecutive years. No matter what oil prices are doing, investors have been able to rely on ExxonMobil for a steady stream of passive income. ExxonMobil yields 3.7%, which is sizable compared to the S&P 500 yield of 1.2%. XOM data by YCharts Avoiding dependence on debt ExxonMobil's corporate plan sets clear expectations for investors to hold the company accountable over the next five years. Most importantly, the plan is based on generating positive cash flow and doesn't rely on debt. ExxonMobil's balance sheet is in its best condition in a decade. XOM Financial Debt to Equity (Quarterly) data by YCharts As you can see in the chart, ExxonMobil has very little net debt on its balance sheet for a company of its size. Its financial debt-to-equity and debt-to-capital ratios are very low, indicating it isn't relying on debt to run its business. ExxonMobil used excess profits in recent years to help pay down debt. Granted, it has ramped capital spending, but has emphasized investments that can contribute to high cash-flow generation. Projects that have a low cost of supply and higher returns, which ExxonMobil calls "advantaged assets," refer to the Permian Basin, Guyana, and its liquefied natural gas (LNG) portfolio. LNG is natural gas that is cooled and condensed into a liquid to export to buyers overseas. ExxonMobil completed the acquisition of Pioneer Natural Resources earlier this year, which gave it significantly more Permian production. ExxonMobil now generates more than 50% of its production from advantaged assets, and expects to reach 60% for 2030 -- helping to drive down its cost of production. By focusing on advantaged assets, ExxonMobil can generate positive cash flow even at lower oil prices, which should help limit its leverage and maintain its financial health. ExxonMobil is a passive income powerhouse If ExxonMobil achieves its projected earnings growth, the company could be worth significantly more in the future than it is today. ExxonMobil is already an inexpensive stock -- with a 13.3 price-to-earnings ratio. And that's based on earnings during a period of fairly mediocre oil prices. Oil and gas companies tend to command discounted valuations compared to the broader market due to the industry's volatility and the uncertain future of oil and gas in a low-carbon world. But ExxonMobil's corporate plan shows that the company doesn't need oil and gas prices to go up to make substantially higher earnings and cash flows over the medium term. It can then use excess profits to invest in new technologies to remain an energy titan even if global oil and gas consumption gradually declines over time. Add it all up, and ExxonMobil stands out as arguably the most well-rounded oil and gas company to buy in 2025.How Bangladesh’s Apparel Industry Can Adapt to EU Sustainability Rules
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