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London’s beleaguered NHS will be in a “very different place” in a decade, a health minister has vowed, ahead of a ‘Ten Year Plan’ to transform the health service. Speaking to the Standard ahead of an event where more than 100 Londoners were invited to share their experience of the NHS, Public Health Minister Andrew Gwynne said the NHS was “broken but not beaten”. He vowed ministers would clamp down on soaring waiting lists , with around 1.2million Londoners in the queue for treatment, and use new technologies to shift the health service’s focus to prevention. Secretary of State for Health and Social Care Wes Streeting will unveil ten-year plans for what ministers have pledged will be a transformative overhaul of the NHS next year. “This is a 10 year plan and we're focused on a decade of national renewal,” Mr Gwynne said ahead of the consultation event on Sunday, alongside a visit to Great Ormond Street Hospital. “And I would hope and expect that the NHS in 10 years time is in a very different place to the NHS we've inherited. “We've done it before. Those of us that have been around the block for as long as I have, remember it in 1997 when the then Labour government came into office and the NHS was on its knees, the longest waiting times, the longest waiting lists and shocking patient experiences in many respects. “And when we left office, the NHS was far from perfect, but it was heading massively in the right direction.” Among the changes to feature in the plan is a shift from ‘hospital to community’, the phasing out of unnecessary letters with a single patient record, and new neighbourhood health centres to focus on prevention. The capital hosted the largest in a series of public events on how the NHS needs to change on Sunday, with residents telling ministers and senior NHS executives of their struggles to access timely care. Of the 1.2million Londoners on a waiting list, more than 34,000 of those have been waiting for more than a year already. The latest data also shows over 38,000 patients waited more than 4 weeks for a GP appointment in London, as of September. Mr Gwynne also reaffirmed a commitment to build new hospitals, with the last Conservative government announcing plans to build 40 new hospitals by 2030. The plans are being reviewed by ministers, which is slated to include several major London hospitals such as Charing Cross Hospital and Hillingdon Hospital. “We are committed to the hospitals program,“ he said. “We are looking at how we can best deliver that and how we can get the resources to be able to deliver that, but it remains our commitment that we will be building the hospitals in the program. We just need to work through the finances and the phases. “And that is a consequence of the terrible legacy that the last government left us with plans, but no money.” Last month, the Government invited the public to submit ideas for the future of the NHS on a dedicated website, attracting 9,000 submissions. Alongside some initial joke suggestions - such as putting beer on tap in hospitals - which have since been removed, ideas include pop-up or mobile clinics, an NHS research programme to target early prevention, and digitised records.US making fresh efforts for Gaza ceasefire: White HouseCLEMSON, S.C. — Quarterback LaNorris Sellers could not be denied against Clemson. Neither could the South Carolina football team. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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TUSTIN, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the second quarter and six months ended October 31, 2024. Highlights from the Quarter Ended October 31, 2024: “We delivered solid results in a competitive environment, with increased revenues and backlog offset by increased costs,” stated Nick Green, president and CEO of Avid Bioservices. “We are pleased to reach the separately announced agreement with GHO and Ampersand, which will provide our stockholders with significant, immediate and certain cash value for their shares. The transaction also provides us with partners who are committed to leveraging their deep industry experience, focused strategy, and collaborative approach to drive growth beyond the Company’s standalone plan.” Financial Highlights for the Second Quarter and Six Months Ended October 31, 2024 Revenues for the second quarter were $33.5 million, an increase of 32% as compared to revenues of $25.4 million recorded in the same prior year period. For the first six months of fiscal 2025, revenues were $73.7 million, an increase of 17% as compared to revenues of $63.1 million in the same prior year period. The revenue increase for the second quarter and six months ended October 31, 2024, was attributed to increases in manufacturing and process development revenues. As of October 31, 2024, backlog was $220 million an increase of 11% compared to $199 million at the end of the same quarter last year. The company anticipates a significant amount of its backlog will be recognized as revenue over the next five fiscal quarters. Gross loss for the second quarter was $2.0 million compared to a gross loss of $4.7 million for the same prior year period. Gross profit for the first six months of fiscal 2025 was $3.7 million compared to a gross loss of $0.6 million for the same prior year period. The increase in gross profit for the second quarter and six months ended October 31, 2024, compared to the same prior year period was primarily driven by increased revenues, partially offset by increases in compensation and benefit related expenses, facility, manufacturing and other related expenses, and depreciation expense. SG&A expenses for the second quarter were $10.6 million, an increase of 61% compared to $6.6 million recorded in the same prior year period. The increase in SG&A for the second quarter ended October 31, 2024, compared to the same prior year period was primarily due to increases in compensation and benefit related expenses and legal fees. SG&A expenses for the first six months of fiscal 2025 were $18.8 million, an increase of 46% compared to $12.8 million recorded in the prior year period. The increase in SG&A for the second quarter and six months ended October 31, 2024, compared to the same prior year period was primarily due to increases in compensation and benefit related expenses and audit, legal and other consulting fees. Net loss for the second quarter was $17.4 million or $0.27 per basic and diluted share, compared to a net loss of $9.5 million or $0.15 per basic and diluted share for the same prior year period. For the first six months of fiscal 2025, the company recorded a net loss of $22.9 million or $0.36 per basic and diluted share, compared to a net loss of $11.6 million or $0.18 per basic and diluted share during the same prior year period. On October 31, 2024, the company reported cash and cash equivalents of $33.4 million, compared to $38.1 million on April 30, 2024. During the second quarter of fiscal 2025, the company’s revolving line of credit expired. More detailed financial information and analysis may be found in Avid Bioservices’ Quarterly Report on Form 10-Q, which is being filed with the Securities and Exchange Commission today. Acquisition of Avid Bioservices by GHO Capital Partners and Ampersand Capital Partners On November 6, 2024, the company announced that Avid, GHO Capital Partners LLP ("GHO") and Ampersand Capital Partners (“Ampersand”) have entered into a definitive merger agreement for Avid to be acquired by funds managed by GHO and Ampersand in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the merger agreement, GHO and Ampersand would acquire all the outstanding shares held by Avid’s stockholders for $12.50 per share in cash. The per share purchase price represents a 13.8% premium to Avid’s closing share price of $10.98 on November 6, 2024, the last full trading day prior to the transaction announcement, and a 21.9% premium to the company's 20-day volume-weighted average share price for the period ended November 6, 2024. This transaction equates to an enterprise value of approximately $1.1 billion, a 6.3x multiple to consensus FY2025E revenue. The transaction, which was unanimously approved by the Avid Board of Directors, is currently expected to close in the first quarter of 2025, subject to customary closing conditions, including approval by Avid’s stockholders and receipt of required regulatory approvals. The transaction is not subject to a financing condition. The companies will continue to operate independently until the proposed transaction is finalized. Upon completion of the transaction, Avid common stock will no longer be listed on any public stock exchange. The company will continue to operate under the Avid name and brand. In light of the proposed transaction, Avid will not host an earnings conference call and is suspending its practice of providing financial guidance. About Avid Bioservices, Inc. Avid Bioservices (NASDAQ: CDMO) is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biologics. The company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With more than 30 years of experience producing biologics, Avid's services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the company provides a variety of process development activities, including cell line development, upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com Forward-Looking Statements Statements in this press release, which are not purely historical, including statements regarding the company’s projected revenue ramp and expected continued momentum, expected future sustained profitability, the estimated annual revenue-generating capacity of the company’s facilities, the expected benefits to the company’s business from customers with later stage programs, the anticipated timing for recognizing revenue from the company’s backlog, the realization of the company’s strategic objectives, the company’s revenue guidance, and other statements relating to the company’s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including, but not limited to, the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could delay the consummation of the proposed transaction or cause the parties to abandon the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into in connection with the proposed transaction; the possibility that the company’s stockholders may not approve the proposed transaction; the risk that the parties to the merger agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the company’s common stock; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of the company to retain and hire key personnel and to maintain relationships with customers, vendors, partners, employees, stockholders and other business relationships and on its operating results and business generally, the risk the company may experience delays in engaging new customers, the risk that the company may not be successful in executing customers projects, the risk that changing economic conditions may delay or otherwise adversely impact the realization of the company’s backlog, the risk that the company may not be able to convert its backlog into revenue within the contemplated time periods, the risk that the company may experience technical difficulties in completing customer projects due to unanticipated equipment and/or manufacturing facility issues which could result in projects being terminated or delay delivery of products to customers, revenue recognition and receipt of payment or result in the loss of the customer, the risk that the company’s later-stage customers do not receive regulatory approval or that commercial demand for an approved product is less than forecast, the risk that one or more existing customers terminates its contract prior to completion or reduces or delays its demand for development or manufacturing services which could adversely affect guided fiscal 2025 revenues, the risk that expanding into a new biologics manufacturing capability may distract senior management’s focus on the company’s existing operations, the risk that the company may experience delays in hiring qualified individuals into the cell and gene therapy business, the risk that the company may experience delays in engaging customers for the cell and gene therapy business, and the risk that the cell and gene therapy business may not become profitable for several years, if ever. Our business could be affected by a number of other factors, including the risk factors listed from time to time in our reports filed with the Securities and Exchange Commission including, but not limited to, our annual report on Form 10-K for the fiscal year ended April 30, 2024, as well as any updates to these risk factors filed from time to time in our other filings with the Securities and Exchange Commission. We caution investors not to place undue reliance on the forward-looking statements contained in this press release, and we disclaim any obligation, and do not undertake, to update or revise any forward-looking statements in this press release except as may be required by law.
Violence against sanitary worker condemned Representational image of medics painting slogans inside Kolkata Medical College and Hospital campus condemning the rape and murder of a female trainee medic at a government-run hospital, in Kolkata, India, August 19, 2024. — Reuters LAHORE:Pakistan Masiha Millat Party Chairman Aslam Pervaiz Sahotra visited the residence of sanitary worker Nadeem Laba in UC No. 1, Ravi Town, after he was subjected to violence during his duties. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1700472799616-0'); }); Sahotra condemned the assault and interference in official work, urging the IG Punjab and DIG Lahore to register a case and apprehend the culprits immediately. Highlighting the dire working conditions of sanitary workers, he criticised the lack of safety equipment, secure jobs, and pensions, labeling it a grave injustice. He announced plans for a consultative meeting with political, social, and labour leaders to devise a strategy to secure the fundamental rights of these marAnthem Blue Cross Blue Shield reverses decision to put time limit on anesthesia
Violence against sanitary worker condemned Representational image of medics painting slogans inside Kolkata Medical College and Hospital campus condemning the rape and murder of a female trainee medic at a government-run hospital, in Kolkata, India, August 19, 2024. — Reuters LAHORE:Pakistan Masiha Millat Party Chairman Aslam Pervaiz Sahotra visited the residence of sanitary worker Nadeem Laba in UC No. 1, Ravi Town, after he was subjected to violence during his duties. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1700472799616-0'); }); Sahotra condemned the assault and interference in official work, urging the IG Punjab and DIG Lahore to register a case and apprehend the culprits immediately. Highlighting the dire working conditions of sanitary workers, he criticised the lack of safety equipment, secure jobs, and pensions, labeling it a grave injustice. He announced plans for a consultative meeting with political, social, and labour leaders to devise a strategy to secure the fundamental rights of these mar
Published 5:33 pm Friday, December 6, 2024 By Rocky Hulne Sometimes you look at a date of when something happened and it blows your mind. When I was scrolling through social media and I saw that it’s been almost 10 years since the Lyle-Pacelli girls basketball team earned its first trip to the state tournament as a co-op. I remember that team quite well and the thought of some of its seniors being in their late 20s made me feel older than usual. The Athletics, who went on to capture a state title in 2018, were a very special group for many reasons. Most impressively, L-P provided a blueprint on how to build a program from the ground up. When I arrived in Austin in 2007, it was highly inconceivable that the L-P girls would ever play in a state tournament, but the team gradually improved every season. First came a couple of regular season wins, then came an improbable play-in game win in the Section 1A tournament. It’s a credit to the program’s coaches and players for sticking with it when times were tough to keep things positive. By the time Courtney Walter and her younger sister Brooke Walter were playing on varsity together, along with Sarah Holtz, the team was looking like a contender. With the Walters and much of the roster hailing from Lyle, pairing with Holtz, a Pacelli student, the team learned to play together on the court, despite the fact they went to different schools. Anyone who watched that team remembers Holtz’s explosiveness to the hoop, Brooke’s awareness as a freshman point guard, and Courtney’s ability to hit the big shot. To add to the passage of time was the fact that Madison Truckenmiller also played on that team. She was the first of three Truckenmillers to play for L-P over the years, with her sister Kendal playing on the state champion team in 2018, and her brother Jake playing in the state baseball tournament for L-P in 2023. Their father Carl is the current head boys basketball coach of L-P. L-P will honor the 2015 team that went to state at halftime of their girls varsity game on Dec. 20 at Pacelli High School and hopefully it’s a chance for the current L-P players to see that value of dedication and hard work. The 2015 team did not inherit a top level program, but by the time they were finished, L-P was well on its way to becoming a power in Southeast Minnesota for a four-year stretch.
Brazilian police formally accuse former President Bolsonaro and aides of alleged 2022 coup attemptCLEVELAND (AP) — Shane Bieber's first venture into free agency turned into a return trip. The 2020 AL Cy Young Award winner agreed Friday to rejoin the Cleveland Guardians after making just two starts last season before undergoing Tommy John surgery, a person familiar with the negotiations told The Associated Press. Bieber had been expected to leave the AL Central champions. But he's coming back after agreeing to a one-year, $14 million contract that includes a $16 million player option for 2026, said the person, who spoke on condition of anonymity because the deal had not been announced. Bieber’s deal will pay him $10 million in salary and includes a $4 million buyout. The 29-year-old only pitched twice in 2024 before having the surgery on his elbow that bothered him during the previous campaign. Bieber felt discomfort in his start on opening day against the Oakland Athletics and again when he faced the Seattle Mariners his next outing. Bieber didn't allow a run in either start, and the club had been encouraged by his velocity and dominance (20 strikeouts). But the elbow became too painful and Bieber elected to have the ligament-replacement surgery. If his recovery follows a normal timeline, Bieber should be back in Cleveland's rotation within the first three months of next season. The Guardians feared his loss would hurt them last season, but the club got off to a fast start under first-year manager Stephen Vogt and ran away with the division title. Cleveland eliminated Detroit in the AL Division Series before losing the ALCS to the New York Yankees in five games. Bieber spent chunks of last season with the team and he received a huge ovation at Progressive Field when he was introduced before the postseason series. The two-time All-Star has spent all seven of his big league seasons with Cleveland, which had contemplated trading him before his elbow issues in 2023 limited him to 21 starts. During the shortened COVID-19 season in 2020, Bieber went 8-1 with a 1.63 ERA over 12 starts and 77 1/3 innings with 122 strikeouts. He led the majors in wins, ERA and strikeouts and finished fourth in AL MVP voting. He was selected by Cleveland in the fourth round of the 2016 amateur draft out of UC Santa Barbara and made his major league debut two years later on his 23rd birthday. Bieber has a career record of 62-32 with a 3.22 ERA over 136 outings spanning 134 starts and 843 innings. He has twice reached 200 innings, throwing a career-high 214 1/3 in 2019. AP MLB: https://apnews.com/hub/mlb
By JOSH DUBOW | Associated Press Athletics president Dave Kaval will resign from the organization after being the public face of the organization’s departure from Oakland after 57 seasons . Related Articles Oakland Athletics | Rickey being Rickey: Memorable moments from Henderson’s larger-than-life career Oakland Athletics | Oakland A’s teammates, sports luminaries mourn Rickey Henderson Oakland Athletics | From the archives: How Oakland A’s legend Rickey Henderson was molded by ‘Billy Ball’ Oakland Athletics | Rickey Henderson: Oakland remembers the ballplayer who grew up in Bushrod Oakland Athletics | Photos: A look back at Rickey Henderson, the Man of Steal Kaval has been president of the A’s for the past eight years and will step down from the role on Dec. 31 to pursue new business opportunities in California. Sandy Dean, a longtime business partner with the Fisher family that owns the team, will serve as interim president and a search to fill the full-time role will begin in 2025, when the A’s begin what they hope will be a three-year stint in Sacramento before the franchise ultimately settles in Las Vegas. Kaval and team president John Fisher were at the center of Oakland fans’ growing discontent as multiple potential East Bay stadium plans failed, the franchise’s biggest stars were traded away and ticket prices increased at the same time the franchise annually fielded a team with one of the lowest payrolls in baseball. Kaval will forever remembered for saying the team was on a “parallel path” that included the ballpark plans in Oakland and Las Vegas, a path that ultimately ended with the team playing its final game in Oakland in September . Kaval made the decision to step down after the team had cleared its final major hurdles to get a stadium built in Las Vegas. The Las Vegas Stadium Authority approved lease, non-relocation and development documents earlier this month for the Athletics to construct a $1.75 billion stadium on the Strip. Other details remain to be worked out, such as a development agreement with Clark County, but groundbreaking likely will take place in the spring and the team expects to be in the new stadium in Las Vegas for the start of the 2028 season. “We are grateful for Dave’s contributions and leadership over the past eight years,” A’s owner John Fisher said in a statement. “He guided our organization through a period of significant transition, and we sincerely thank him for his unwavering commitment to the team. As we look ahead to the next chapter of our franchise, the team will continue to grow under new leadership, driving the organization toward success during our interim years in West Sacramento and at our new home in Las Vegas.” Kaval failed in his efforts to get a new stadium built for the team in downtown Oakland and eventually helped the organization reach the deal to move to Las Vegas, ending a run of of 57 seasons in Oakland. The A’s will play at least the next three seasons at a minor league ballpark in West Sacramento, California. Kaval had previously served as president of the MLS’ San Jose Earthquakes, who are also owned by the Fisher family. When he first came to the A’s, he drew praise for his open-door policy to hear from fans and for changes he made at the Oakland Coliseum. He brought in food trucks for games and opened the “Treehouse” a 10,000-square-foot area that included a bar, lounge and patio for fans to watch games from left field. Kaval took a less public role in the Bay Area after the team announced plans in 2023 to move to Las Vegas, but by then his perceived role as the villain (along with Fisher) in the A’s saga had already been well established. In May 2021, while Kaval and other A’s officials were in Las Vegas exploring possibilities to move the team to the area, he rankled two Bay Area fan bases with a single tweet. While attending the Vegas Golden Knights’ home playoff game he posted a video on the social media platform now known as X of the boisterous crowd on its feet at T-Mobile Arena just before the drop of the puck. “Wow! #StanleyCup playoffs! @GoldenKnights,” Kaval tweeted in regards to the atmosphere inside the arena. Sharks fans were angered because he was complimenting a hated rival, and A’s fans were enraged because it was at the same time his team was losing to the Seattle Mariners at the Coliseum. Kaval was outwardly optimistic about a new ballpark getting done in Oakland early in his tenure. In 2017, he announced the team had decided on a piece of land in the Peralta Community College District in Laney College. But the plan was met with quick opposition from city leaders and residents who were concerned the stadium would displace low-income families and businesses in the Chinatown and East Lake neighborhoods. A year later, Kaval and the A’s publicly announced their intentions to build their new ballpark at Howard Terminal near Jack London Square. The Oakland City Council in 2021 voted to approve a non-binding term sheet to continue negotiations with the team over the $12 billion proposal that included the ballpark and a mixed-use development project. But Kaval said the team would not accept that term sheet while the two sides disagreed over infrastructure costs. It was around that time Kaval publicly spoke about a “parallel path” that included the ballpark plans in Oakland and Las Vegas . In June 2023, Nevada Gov. Joe Lombardo signed a bill that would give the A’s $380 million in public money toward their Las Vegas stadium. The A’s began the application process for relocation a week later, and MLB owners unanimously approved the team’s eventual move that November.And with its lease at the Oakland Coliseum up in 2024, the team announced last April it would move temporarily to Sutter Health Park, home of the Sacramento River Cats, rather than extend their lease at their home venue they initially moved to in 1968. In September, the A’s played their final game at the Coliseum, where the team won four World Series and six American League pennants in 57 seasons. Staff writer Laurence Miedema and The Sacramento Bee contributed to this report. ___ AP MLB: https://apnews.com/hub/MLB
Iowa offensive lineman announces plans to return in 2025By Stephanie Lai and Hadriana Lowenkron, Bloomberg News Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures LLC to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developing industries. “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas,” Trump said Thursday in a post on his Truth Social network. Trump said that Sacks would also lead the Presidential Council of Advisors for Science and Technology. In Sacks, Trump is tapping one of his most prominent Silicon Valley supporters and fundraisers for a prime position in his administration. Sacks played a key role in bolstering Trump’s fundraising among technology industry donors, including co-hosting an event at his San Francisco home in June, with tickets at $300,000 a head. He is also closely associated with Vice President-elect JD Vance, the investor-turned-Ohio senator. Sacks is a venture capitalist and part of Silicon Valley’s “PayPal Mafia.” He first made his name in the technology industry during a stint as the chief operating officer of PayPal, the payments company whose founders in the late 1990s included billionaire entrepreneur Elon Musk and investor Peter Thiel. After it was sold to eBay, Sacks turned to Hollywood, where he produced the 2005 satire Thank You for Smoking. Back in Silicon Valley, he founded workplace communications company Yammer, which was bought by Microsoft Corp. in 2012 for $1.2 billion. He founded his own venture capital firm, Craft Ventures, in 2017 and has invested in Musk-owned businesses, including SpaceX. Sacks said on a recent episode of his All-In podcast that a “key man” clause in the agreements of his venture firm’s legal documents would likely prevent him from taking a full-time position, but he might consider an advisory role in the new administration. A Craft spokeswoman said Sacks would not be leaving Craft. In his post, Trump said Sacks “will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.” Protecting free speech is a keen interest of Sacks. He regularly speaks about “woke” interests that try to muzzle unpopular opinions and positions. The new post is expected to help spearhead the crypto industry deregulation Trump promised on the campaign trail. The role is expected to provide cryptocurrency advocates a direct line to the White House and serve as a liaison between Trump, Congress and the federal agencies that interface with digital assets, including the Securities and Exchange Commission and the Commodity Futures Trading Commission. Trump heavily campaigned on supporting crypto, after previously disparaging digital assets during his first White House term, saying their “value is highly volatile and based on thin air.” The president-elect on Thursday said Sacks would “work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.” During the campaign, Trump spoke at a Bitcoin conference, accepted crypto campaign donations and met with executives from Bitcoin mining companies and crypto exchanges multiple times. Trump’s desire to give priority to the digital asset industry is also reflected in his close allies and cabinet selections, including his Commerce secretary pick, Howard Lutnick, and Treasury secretary nominee Scott Bessent. On the AI front, Sacks would help Trump put his imprint on an emerging technology whose popular use has exploded in recent years. Sacks is poised to be at the front lines in determining how the federal government both adopts AI and regulates its use as advances in the technology and adoption by consumers pose a wide array of benefits as well as risks touching on national security, privacy, jobs and other areas. The president-elect has expressed both awe at the power of AI technology as well as concern over the potential harms from its use. During his first term, he signed executive orders that sought to maintain US leadership in the field and directed the federal government to prioritize AI in research and development spending. As AI has become more mainstream in recent years and with Congress slow to act, President Joe Biden has sought to fill that void. Biden signed an executive order in 2023 that establishes security and privacy protections and requires developers to safety-test new models, casting the sweeping regulatory order as necessary to safeguard consumers. A number of technology giants have also agreed to adopt a set of voluntary safeguards which call for them to test AI systems for discriminatory tendencies or security flaws and to share those results. Trump has vowed to repeal Biden’s order. The Republican Party’s 2024 platform dismissed Biden’s executive order as one that “hinders AI Innovation, and imposes Radical Leftwing ideas on the development of this technology.” Sacks can be expected to work closely with Musk, the world’s richest person and one of the president-elect’s most prominent supporters. Musk is also a player in the AI space with his company xAI and a chatbot named Grok — efforts which pit him against Silicon Valley’s giants — and he stands to wield significant influence within the incoming administration. The appointment won’t require Sacks to divest or publicly disclose his assets. Like Musk, Sacks will be a special government employee. He can serve a maximum of 130 days per year, with or without compensation. However, conflict of interest rules apply to special government employees, meaning Sacks will have to recuse himself from matters that could impact his holdings. Sacks’s Craft Ventures is known more for enterprise software investing than for crypto, but it has made a few crypto investments, including BitGo and Bitwise. Still, Sacks has firm opinions on the sector. Speaking last month on All-In, Sacks praised a bill on crypto regulation that had passed in the U.S. House but not the Senate earlier this year. The Financial Innovation and Technology for the 21st Century Act would regulate certain types of digital assets as a commodity, regulated by the Commodity Futures Trading Commission. “The crypto industry basically wants a really clear line for knowing when they’re a commodity and they want commodities to be governed, like all other commodities, by the CFTC,” he said on the November podcast. He also disparaged some of the Securities and Exchange Commission’s positions on crypto under its chair, Gary Gensler. “The days of Gensler terrifying crypto companies,” he said. “Those days are about to be over.” Earlier this week, Trump nominated crypto advocate Paul Atkins to lead the SEC. With assistance from Zoe Ma, Bill Allison, Sarah McBride, Anne VanderMey and stacy-marie ishmael. ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.
AP Sports SummaryBrief at 6:35 p.m. ESTBeyond Paradise’s Martha learns important lesson in emotional fostering storyZealand Pharma has initiated its Phase 2b trial for the obesity drug petrelintide, enrolling the first patient. The drug mimics the hormone amylin, which works with insulin post-ingestion. This trial marks progress in managing overweight conditions. A dengue outbreak has reached record highs in the Americas with 12.6 million reported cases and 7,700 deaths this year, as per PAHO. Stronger mitigation efforts are urged to combat this widespread mosquito-borne disease. CervoMed's shares have plummeted by 77% following the failure of their dementia drug neflamapimod in a mid-stage trial. The drug showed no significant symptom reduction compared to a placebo, prompting further investigation into the results. (With inputs from agencies.)
Pheu Thai bill 'to curb coups'ADDISON, Texas, Dec. 05, 2024 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO) (together with its consolidated subsidiaries and affiliates, “CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), applicable to CECO’s tender offer for Profire Energy, Inc. (Nasdaq: PFIE) (“PFIE”) expired at 11:59 p.m., Eastern Time, on November 15, 2024. The expiration of the HSR waiting period satisfies one of the conditions to consummate the tender offer. Other conditions remain to be satisfied, including, among others, a minimum tender of shares of common stock of PFIE representing a majority of the total number of outstanding shares of common stock of PFIE. Unless the tender offer is extended, the offer and withdrawal rights will expire at one minute after 11:59 p.m., Eastern Time, on December 31, 2024. ABOUT CECO ENVIRONMENTAL CECO Environmental is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water, and energy transition markets across the globe through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom solutions for applications including power generation, petrochemical processing, general industrial, refining, midstream oil and gas, electric vehicle production, polysilicon fabrication, battery recycling, beverage can, and water/wastewater treatment along with a wide range of other applications. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Addison, Texas. For more information, please visit www.cecoenviro.com . SAFE HARBOR STATEMENT Certain statements in this communication are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, which are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication, other than statements of historical fact, including statements about management’s beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. We use words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “will,” “plan,” “should” and similar expressions to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Potential risks and uncertainties, among others, that could cause actual results to differ materially are discussed under “Item 1A. Risk Factors” of CECO’s Quarterly Reports on Form 10-Q and in CECO’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and include, but are not limited to: the parties’ ability to complete the proposed transactions contemplated by the Merger Agreement in the anticipated timeframe or at all; the effect of the announcement or pendency of the proposed transaction on business relationships, operating results, and business generally; risks that the proposed transactions disrupt current plans and operations and potential difficulties in employee retention as a result of the proposed transactions; risks related to diverting management’s attention from ongoing business operations; the outcome of any legal proceedings that may be instituted related to the proposed transactions; the amount of the costs, fees, expenses and other charges related to the proposed transactions; the risk that competing offers or acquisition proposals will be made; the sensitivity of CECO’s business to economic and financial market conditions generally and economic conditions in CECO’s service areas; dependence on fixed price contracts and the risks associated therewith, including actual costs exceeding estimates and method of accounting for revenue; the effect of growth on CECO’s infrastructure, resources and existing sales; the ability to expand operations in both new and existing markets; the potential for contract delay or cancellation as a result of on-going or worsening supply chain challenges; liabilities arising from faulty services or products that could result in significant professional or product liability, warranty or other claims; changes in or developments with respect to any litigation or investigation; failure to meet timely completion or performance standards that could result in higher cost and reduced profits or, in some cases, losses on projects; the potential for fluctuations in prices for manufactured components and raw materials, including as a result of tariffs and surcharges, and rising energy costs; inflationary pressures relating to rising raw material costs and the cost of labor; the substantial amount of debt incurred in connection with CECO’s strategic transactions and its ability to repay or refinance it or incur additional debt in the future; the impact of federal, state or local government regulations; CECO’s ability to repurchase shares of its common stock and the amounts and timing of repurchases; CECO’s ability to successfully realize the expected benefits of its restructuring program; economic and political conditions generally; CECO’s ability to optimize its business portfolio by identifying acquisition targets, executing upon any strategic acquisitions or divestitures, integrating acquired businesses and realizing the synergies from strategic transactions; and unpredictability and severity of catastrophic events, including cybersecurity threats, acts of terrorism or outbreak of war or hostilities or public health crises, as well as management’s response to any of the aforementioned factors. Many of these risks are beyond management’s ability to control or predict. Should one or more of these risks or uncertainties materialize, or should any related assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. Investors are cautioned not to place undue reliance on such forward-looking statements as they speak only to CECO’s views as of the date the statement is made. Furthermore, the forward-looking statements speak only as of the date they are made. Except as required under the federal securities laws or the rules and regulations of the Securities and Exchange Commission (the “SEC”), CECO undertakes no obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise. Important Additional Information Will be Filed with the SEC This press release is neither an offer to purchase nor a solicitation of an offer to sell common stock of PFIE or any other securities. This communication is for informational purposes only. The tender offer transaction commenced by a subsidiary of CECO is being made pursuant to a tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) filed by such affiliates of CECO with the SEC. In addition, PFIE will file a solicitation/recommendation statement on Schedule 14D-9 with the SEC related to the tender offer. The offer to purchase shares of PFIE’ common stock is only being made pursuant to the Offer to Purchase, the Letter of Transmittal and related offer materials filed as a part of the tender offer statement on Schedule TO, in each case as amended from time to time. THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND OTHER MATERIALS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 CONTAIN IMPORTANT INFORMATION. PRIOR TO MAKING ANY DECISION REGARDING THE TENDER OFFER, PFIE STOCKHOLDERS ARE STRONGLY ADVISED TO CAREFULLY READ THESE DOCUMENTS, AS FILED AND AS THEY MAY BE AMENDED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE. PFIE stockholders will be able to obtain the tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) and the related solicitation/recommendation statement on Schedule 14D-9 at no charge on the SEC’s website at www.sec.gov . In addition, the tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) and the related solicitation/recommendation statement on Schedule 14D-9 may be obtained free of charge from D.F. King & Co., Inc. 48 Wall Street, 22nd Floor New York, New York 10005, Telephone Number (866) 342-4881. Company Contact: Peter Johansson Chief Financial and Strategy Officer 888-990-6670 Investor Relations Contact: Steven Hooser and Jean Marie Young Three Part Advisors 214-872-2710 Investor.Relations@OneCECO.com