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Palvella Therapeutics to debut on Nasdaq under the ticker symbol “PVLA” as a publicly traded rare disease biopharmaceutical company advancing a late clinical-stage pipeline and a platform for treating serious, rare genetic diseases Strong balance sheet with approximately $80.0 million of cash and cash equivalents, including proceeds from a PIPE financing co-led by BVF Partners, L.P. and Frazier Life Sciences Cash expected to fund operations into the second half of 2027, including through Phase 3 SELVA clinical trial of QTORINTM 3.9% rapamycin anhydrous gel (QTORINTM rapamycin) for the treatment of microcystic lymphatic malformations (microcystic LMs) and Phase 2 clinical trial in cutaneous venous malformations (cutaneous VMs) Microcystic LMs is a chronically debilitating and lifelong genetic disease affecting an estimated more than 30,000 diagnosed patients in the U.S. QTORINTM rapamycin has the potential to be the first approved therapy and standard of care in the U.S. for microcystic LMs and cutaneous VMs WAYNE, Pa., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Palvella Therapeutics, Inc. (Palvella), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases for which there are no U.S. Food and Drug Administration (FDA)-approved therapies, today announced the completion of its previously announced merger with Pieris Pharmaceuticals, Inc. (Pieris). The combined company will operate under the name Palvella Therapeutics, Inc., and its shares are expected to begin trading on the Nasdaq Capital Market on December 16, 2024, under the ticker symbol "PVLA". Palvella will continue to be led by Wes Kaupinen, its Founder and Chief Executive Officer, and other members of the Palvella management team. The transaction was approved by Pieris stockholders at a special meeting held on December 11, 2024, and the transaction had been previously approved by Palvella stockholders. "With strong support from leading healthcare-dedicated investors, Palvella is well positioned to enter the public markets and pursue our vision of becoming the leading rare disease company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases," said Mr. Kaupinen. “This transaction will enable us to accelerate late-stage development of QTORINTM rapamycin, our lead product candidate, for microcystic LMs and cutaneous VMs while also further advancing additional novel product candidates from our QTORINTM platform." Concurrent with the merger, Palvella completed a previously announced oversubscribed $78.9 million private placement co-led by BVF Partners, L.P., an existing investor, and Frazier Life Sciences, a new investor, and with participation from a syndicate of leading healthcare-dedicated investors. Additional new investors include Blue Owl Healthcare Opportunities, Nantahala Capital, DAFNA Capital Management, ADAR1 Capital Management, and a healthcare dedicated fund. Existing investors Samsara BioCapital, Petrichor, CAM Capital, Ligand Pharmaceuticals, Integrated Finance Group (an AscellaHealth partner company), BioAdvance, and Gore Range Capital also participated in the financing. Palvella's cash and cash equivalents of approximately $80.0 million is expected to fund operations into the second half of 2027, including through results from the SELVA Phase 3 clinical trial of QTORINTM rapamycin for the treatment of microcystic LMs and Phase 2 clinical trial of QTORINTM rapamycin in cutaneous VMs. Palvella’s research team developed QTORINTM, a patented and versatile platform designed to generate novel topical therapies that penetrate the deep layers of the skin to locally treat a broad spectrum of serious, rare genetic skin diseases. Well-accepted mechanisms of action of rapamycin and other therapeutic agents represent potential therapies for rare genetic skin diseases. However, the adverse event profile of those agents through systemic exposure poses significant barriers to patient adoption. Palvella’s QTORINTM product candidates are designed for targeted, localized delivery of therapeutic agents to pathogenic tissue of interest while minimizing systemic absorption and thereby reducing the risk of unwanted adverse events associated with systemic therapy. Palvella's lead product candidate QTORINTM rapamycin is a novel, patented 3.9% rapamycin anhydrous gel currently under development for the treatment of microcystic LMs, cutaneous VMs, and other serious, functionally debilitating skin diseases driven by the overactivation of the mammalian target of rapamycin (mTOR) pathway. QTORINTM rapamycin has received FDA Breakthrough Therapy Designation, Fast Track Designation, and Orphan Drug Designation for microcystic LMs and is the recent recipient of up to a $2.6 million FDA Orphan Products Grant. QTORINTM rapamycin has also received Fast Track Designation for venous malformations. QTORINTM rapamycin is protected by issued composition patents covering anhydrous gel formulations of rapamycin, as well as methods of use, in the U.S., Japan, Australia, China and Israel and pending patent applications broadly covering anhydrous gel formulations of rapamycin, as well as methods of use, in the U.S. and other countries. In the third quarter of 2024, Palvella initiated SELVA, a 24-week, Phase 3, single-arm, baseline-controlled clinical trial of QTORINTM rapamycin administered once daily for the treatment of microcystic LMs. The primary efficacy endpoint is the change from baseline in the overall microcystic LM Investigator Global Assessment (mLM-IGA) at week 24. The Phase 3 study is enrolling approximately 40 subjects, age six or older, at leading vascular anomaly centers across the U.S. Transaction Details Based on the final exchange ratio of approximately 0.30946 shares of Pieris common stock for each share of Palvella common stock, at the closing of the merger, there are approximately 13.95 million shares of the combined company's common stock outstanding on a diluted basis, with prior Pieris stockholders owning approximately 11% on a diluted basis and prior Palvella stockholders (including investors in the private placement) holding approximately 89% of the combined company's outstanding common stock on a diluted basis. In connection with the closing of the merger, Pieris issued a non-transferable contingent value right (CVR) to Pieris shareholders of record immediately prior to the closing, which does not include the former holders of shares of Palvella or the private financing investors. Holders of the CVR will be entitled to receive payments from proceeds received by the combined company, if any, under Pieris' existing partnership agreements with Pfizer and Boston Pharmaceuticals, in addition to other potential licensing agreements involving certain of Pieris' legacy assets, as well as certain potential payments related to historical research and development tax credits, which may or may not be realized. TD Cowen served as lead placement agent and Cantor served as a placement agent for Palvella's concurrent financing. Troutman Pepper Hamilton Sanders LLP served as legal counsel to Palvella. Cooley LLP served as legal counsel to the placement agents. Stifel served as the exclusive financial advisor to Pieris and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. served as legal counsel to Pieris. About Microcystic Lymphatic Malformations Microcystic LMs are a rare, chronically debilitating genetic disease caused by dysregulation of the phosphatidylinositol 3-kinase (PI3K)/mTOR pathway. The disease is characterized by malformed lymphatic vessels that protrude through the skin and persistently leak lymph fluid (lymphorrhea) and bleed, often leading to recurrent serious infections and cellulitis that can cause hospitalization. The natural history of microcystic LMs are persistent and progressive without spontaneous resolution, with symptoms generally worsening during life, including increases in the number and size of malformed vessels that lead to complications and lifetime morbidity. There are currently no FDA-approved treatments for the estimated more than 30,000 diagnosed patients with microcystic LMs in the United States. About Palvella Therapeutics Founded and led by rare drug disease drug development veterans, Palvella Therapeutics (Nasdaq: PVLA) is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases for which there are no FDA-approved therapies. Palvella is developing a broad pipeline of product candidates based on its patented QTORINTM platform, with an initial focus on serious, rare genetic skin diseases, many of which are lifelong in nature. Palvella’s lead product candidate, QTORINTM 3.9% rapamycin anhydrous gel (QTORINTM rapamycin), is currently in the Phase 3 SELVA clinical trial in microcystic lymphatic malformations (microcystic LMs) and a Phase 2 trial in cutaneous venous malformations. For more information, please visit www.palvellatx.com or follow the Company on LinkedIn. QTORINTM rapamycin is for investigational use only and has not been approved or cleared by the FDA or by any other regulatory agency. This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended (Securities Act)). These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Palvella and Pieris, as well as assumptions made by, and information currently available to, management of Palvella and Pieris. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Statements that are not historical facts are forward-looking statements. Forward-looking statements include, but are not limited to, the sufficiency of the combined company’s capital resources; the combined company’s cash runway; the expected timing of the closing of the proposed transactions; statements regarding the potential of, and expectations regarding, Palvella’s programs, including QTORINTM rapamycin, and its research-stage opportunities, including its expected therapeutic potential and market opportunity; the expected timing of initiating, as well as the design of Palvella’s Phase 2 clinical trial of QTORINTM rapamycin in cutaneous venous malformations. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the limited operating history of each company; the significant net losses incurred since inception; the ability to raise additional capital to finance operations; the ability to advance product candidates through preclinical and clinical development; the ability to obtain regulatory approval for, and ultimately commercialize, Palvella’s product candidates, including QTORINTM rapamycin; the outcome of early clinical trials for Palvella’s product candidates, including the ability of those trials to satisfy relevant governmental or regulatory requirements; the fact that data and results from clinical studies may not necessarily be indicative of future results; Palvella’s limited experience in designing clinical trials and lack of experience in conducting clinical trials; the ability to identify and pivot to other programs, product candidates, or indications that may be more profitable or successful than Palvella’s current product candidates; the substantial competition Palvella faces in discovering, developing, or commercializing products; the negative impacts of the global events on operations, including ongoing and planned clinical trials and ongoing and planned preclinical studies; the ability to attract, hire, and retain skilled executive officers and employees; the ability of Palvella and Pieris to protect their respective intellectual property and proprietary technologies; reliance on third parties, contract manufacturers, and contract research organizations. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in Pieris’ most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, as well as the registration statement on Form S-4 filed with the SEC by Pieris in connection with the merger. Palvella and Pieris can give no assurance that the conditions to the proposed transactions will be satisfied. Except as required by applicable law, Palvella and Pieris undertake no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. This press release contains hyperlinks to information that is not deemed to be incorporated by reference into this press release. Palvella Therapeutics Contact Information Investors Wesley H. Kaupinen Founder and CEO, Palvella Therapeutics wes.kaupinen@palvellatx.com Media Stephanie Jacobson Managing Director, Argot Partners palvella@argotpartners.comBishop TD Jakes sues fellow pastor for defamation following sex abuse claims, medical emergency during sermon
believes that should be “pushing for European football every year”, but his manager insists the focus must instead be on becoming a “good team”. West Ham earned a crucial win on Monday night when they to ease the pressure on Lopetegui. The Hammers scored either side of the break through Tomas Soucek and Aaron Wan-Bissaka to earn their fourth Premier League win of the season, but they remain 14th in the table. “I think we should be pushing for European football every year,” said captain Bowen, who scored the winning goal in the final of the Europa Conference League as West Ham won the competition under Lopetegui's predecessor David Moyes in the 2022/23 season. “We had three years at it, and in a season where we finished I think 14th, we came away with a trophy. Those are the standards of this club. “We have a really good side, a really good manager. We haven’t been to those levels, but it’s not for the want of trying. When we step on that pitch, it’s down to us players. Tonight, everyone involved, it was a really big moment. “That was more the level it takes to play for this club. And then quality shows; we have top-quality players. It’s important now that we rest up.” Bowen added: “I’ve said before, we need to be consistently winning games on the bounce. This has started tonight. “[Next opponents] Arsenal are a top, top side pushing for Premier League titles, but we’re at home, we can use that to our advantage, and put in again another top performance and go to win the game.” When told what Bowen had said about European football aims, Lopetegui replied: “I think that West Ham should be a team - a good team. That is the more important thing. “Tomorrow we are working hard, looking forward to the next challenge. Looking at the long-[term] future doesn’t help anyone. Our big challenge is trying to be able to be a good team.” Lopetegui is suspended from the touchline for Saturday’s home match against Arsenal after picking up his third yellow card of the season against Newcastle.
Vanderpump Rules celeb James Kennedy has pledged to turn over a new leaf following his recent arrest on suspicion of misdemeanor domestic violence. The 32-year-old Vanderpump Rules personality found himself in hot water after cops responded to a late-night call about a couple's dispute on Tuesday, December 10. Following his release on bail, the reality star —real name James Kennedy Georgiou—took to Instagram to declare his intention to reform, stating: "I am committed to making meaningful changes in my life. I am taking time to focus on my sobriety, personal growth, and being present for my loved ones. Navigating challenging moments is not easy, but I am determined to learn, grow, and move forward." Ally Lewber breaks silence after boyfriend James Kennedy's arrest over alleged domestic abuse Vanderpump Rules finally gets a new update on future of show after summer's axe Earlier, a Burbank Police Department representative informed The Hollywood Reporter: "On December 10, 2024, at about 11:30 pm, Burbank Police were dispatched to a residence regarding an argument between a man and a woman. The investigation determined it was a domestic incident, leading to Mr. Georgiou's arrest." The spokesperson added: "Mr. Georgiou was booked for misdemeanor domestic violence and later posted bail. Formal charges are pending review by the Burbank City Attorney's office." Currently, it is understood that Kennedy has not faced any charges as the formal charges are under review - a representative for the celebrity has been approached for additional commentary. Kennedy has been a part of the Bravo series since its second season started in 2013, reports the Mirror . Reports earlier this year indicated that the entire cast, except for lead star Lisa Vanderpump, would be replaced for the upcoming 12th season. Kennedy is romantically involved with his Vanderpump Rules co-star Ally Lewber and has had past connections with other women from the show. In an Instagram post on Saturday, Lewber expressed her gratitude for the support she received, stating, "Thank you to everyone who has reached out with love and support and for checking in on me. I'm okay and taking the time I need right now." Kristen Doute, an ex-girlfriend of Kennedy from 2013 to 2015, drew attention with her reaction to his arrest news earlier this month. She reposted a news article about his arrest on social media with a succinct caption to the headline, simply writing: "Finally". The Vanderpump Rules crew is reeling from the recent arrest of James Kennedy on domestic violence charges. Rachel Leviss, his ex-girlfriend and one-time fiancée, didn't hold back her thoughts through her legal team. A statement released to the Daily Mail by attorneys Mark Geragos and Bryan Freedman read: "We are aware of James Kennedy's recent arrest for domestic violence. This news is, unfortunately, not surprising." The Mirror has reached out to Kennedy's rep for a statement.Englishman Davis scores late to rescue point for Udinese and Lecce steals win at Venezia
WASHINGTON (AP) — Donald Trump’s personnel choices for his new Cabinet and White House reflect his signature positions on immigration and trade but also a range of viewpoints and backgrounds that raise questions about what ideological anchors might guide his Oval Office encore. With a rapid assembly of his second administration — faster than his effort eight years ago — the former and incoming president has combined television personalities , former Democrats, a wrestling executive and traditional elected Republicans into a mix that makes clear his intentions to impose tariffs on imported goods and crack down on illegal immigration but leaves open a range of possibilities on other policy pursuits. “The president has his two big priorities and doesn’t feel as strongly about anything else — so it’s going to be a real jump ball and zigzag,” predicted Marc Short, chief of staff to Vice President Mike Pence during Trump’s 2017-21 term. “In the first administration, he surrounded himself with more conservative thinkers, and the results showed we were mostly rowing in the same direction. This is more eclectic.” Indeed, Secretary of State-designee Marco Rubio , the Florida senator who has pilloried authoritarian regimes around the world, is in line to serve as top diplomat to a president who praises autocratic leaders like Russia’s Vladimir Putin and Hungary’s Viktor Orban. Republican Rep. Lori Chavez-DeRemer of Oregon has been tapped to sit at the Cabinet table as a pro-union labor secretary alongside multiple billionaires, former governors and others who oppose making it easier for workers to organize themselves. The prospective treasury secretary, Scott Bessent , wants to cut deficits for a president who promised more tax cuts, better veterans services and no rollbacks of the largest federal outlays: Social Security, Medicare and national defense. Abortion-rights supporter Robert F. Kennedy Jr. is Trump's choice to lead the Health and Human Services Department, which Trump’s conservative Christian base has long targeted as an agency where the anti-abortion movement must wield more influence. Former Republican House Speaker Newt Gingrich allowed that members of Trump’s slate will not always agree with the president and certainly not with one another. But he minimized the potential for irreconcilable differences: “A strong Cabinet, by definition, means you’re going to have people with different opinions and different skills.” That kind of unpredictability is at the core of Trump’s political identity. He is the erstwhile reality TV star who already upended Washington once and is returning to power with sweeping, sometimes contradictory promises that convinced voters, especially those in the working class, that he will do it all again. “What Donald Trump has done is reorient political leadership and activism to a more entrepreneurial spirit,” Gingrich said. There's also plenty of room for conflict, given the breadth of Trump's 2024 campaign promises and his pattern of cycling through Cabinet members and national security personnel during his first term. This time, Trump has pledged to impose tariffs on foreign goods, end illegal immigration and launch a mass deportation force, goose U.S. energy production and exact retribution on people who opposed — and prosecuted — him. He's added promises to cut taxes, raise wages, end wars in Israel and Ukraine , streamline government, protect Social Security and Medicare, help veterans and squelch cultural progressivism. Trump alluded to some of those promises in recent weeks as he completed his proposed roster of federal department heads and named top White House staff members. But his announcements skimmed over any policy paradoxes or potential complications. Bessent has crusaded as a deficit hawk, warning that the ballooning national debt , paired with higher interest rates, drives consumer inflation. But he also supports extending Trump’s 2017 tax cuts that added to the overall debt and annual debt service payments to investors who buy Treasury notes. A hedge-fund billionaire, Bessent built his wealth in world markets. Yet, generally speaking, he’s endorsed Trump's tariffs. He rejects the idea that they feed inflation and instead frames tariffs as one-time price adjustments and leverage to achieve U.S. foreign policy and domestic economic aims. Trump, for his part, declared that Bessent would “help me usher in a new Golden Age for the United States.” Story continues below video Chavez-DeRemer, Trump promised, “will achieve historic cooperation between Business and Labor that will restore the American Dream for Working Families.” Trump did not address the Oregon congresswoman’s staunch support for the PRO-Act, a Democratic-backed measure that would make it easier for workers to unionize, among other provisions. That proposal passed the House when Democrats held a majority. But it’s never had measurable Republican support in either chamber on Capitol Hill, and Trump has never made it part of his agenda. When Trump named Kennedy as his pick for health secretary, he did not mention the former Democrat’s support for abortion rights. Instead, Trump put the focus on Kennedy’s intention to take on the U.S. agriculture, food processing and drug manufacturing sectors. The vagaries of Trump’s foreign policy stand out, as well. Trump's choice for national security adviser , Florida Rep. Mike Waltz, offered mixed messages Sunday when discussing the Russia-Ukraine war, which Trump claims never would have started had he been president, because he would have prevailed on Putin not to invade his neighboring country. Speaking on “Fox News Sunday,” Waltz repeated Trump’s concerns over recent escalations, which include President Joe Biden approving sending antipersonnel mines to Ukrainian forces. “We need to restore deterrence, restore peace and get ahead of this escalation ladder, rather than responding to it,” Waltz said. But in the same interview, Waltz declared the mines necessary to help Ukraine “stop Russian gains” and said he’s working “hand in glove” with Biden’s team during the transition. Meanwhile, Tulsi Gabbard, Trump’s pick for director of national intelligence , the top intelligence post in government, is an outspoken defender of Putin and Syrian President Bashar al Assad, a close ally of Russia and Iran. Perhaps the biggest wildcards of Trump’s governing constellation are budget-and-spending advisers Russell Vought, Elon Musk and Vivek Ramaswamy. Vought led Trump’s Office of Management and Budget in his first term and is in line for the same post again. Musk, the world’s wealthiest man, and Ramaswamy, a mega-millionaire venture capitalist, are leading an outside advisory panel known as the “Department of Government Efficiency.” The latter effort is a quasi-official exercise to identify waste. It carries no statutory authority, but Trump can route Musk’s and Ramaswamy’s recommendations to official government pathways, including via Vought. A leading author of Project 2025 , the conservative movement’s blueprint for a hard-right turn in U.S. government and society, Vought envisions OMB not just as an influential office to shape Trump’s budget proposals for Congress but a power center of the executive branch, “powerful enough to override implementing agencies’ bureaucracies.” As for how Trump might navigate differences across his administration, Gingrich pointed to Chavez-DeRemer. “He might not agree with her on union issues, but he might not stop her from pushing it herself,” Gingrich said of the PRO-Act. “And he will listen to anybody. If you convince him, he absolutely will spend presidential capital.” Short said other factors are more likely to influence Trump: personalities and, of course, loyalty . Vought “brought him potential spending cuts” in the first administration, Short said, “that Trump wouldn’t go along with.” This time, Short continued, “maybe Elon and Vivek provide backup,” giving Vought the imprimatur of two wealthy businessmen. “He will always calculate who has been good to him,” Short said. “You already see that: The unions got the labor secretary they wanted, and Putin and Assad got the DNI (intelligence chief) they wanted. ... This is not so much a team-of-rivals situation. I think it’s going to look a lot like a reality TV show.”Future of flagship performance? Here’s a closer look at vivo X200 Series
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Wake up the ghosts! Texas, Texas A&M rivalry that dates to 1894 is rebornThe top 10 football teams in Maine as voted on by reporters from the Press Herald, Kennebec Journal/Morning Sentinel, Sun Journal and Forecaster, with first-place votes in parentheses, followed by total points. Through games of 11/23/24 Comments are not available on this story. Send questions/comments to the editors. « Previous
The Executive Secretary of Gold Fields Ghana Foundation (GFGF), Abdel- Razak Yakubu, has implored graduates of the foundation’s Community Apprenticeship Training Programme (CATP) to fully utilise their tools and skills for the socio-economic development of their communities. “Last year, we seized two sewing machines and knitting machines from beneficiaries who, after eight months, had not used them and could not provide any tangible reason. Our plan is to give such tools to others who are willing to use them,” he revealed. Speaking at the graduation ceremony for 33 trainees at Bompieso in the Prestea -Huni Valley municipality of the Western Region, on Friday, Mr Yakubu encouraged students to approach their career paths with seriousness, change their attitude, and make the most of opportunities at their disposal. He stressed the value of acquiring practical skills and what the training they have gained could play in fostering their long-term career development. The GFGF Executive Secretary recounted instances where past beneficiaries failed to put their equipment to use, leading to the foundation reclaiming the tools for redistribution. Mr Yakubu emphasised the importance of the programme, saying, “We have invested several hundreds of thousands of cedis in startup tools for these graduates to open their own small businesses.” CATP, he explained, was a community-oriented initiative designed to provide skills training and employment opportunities to basic school leavers, who were unable to pursue secondary education in communities where Gold Fields operated. CATP, a GFGF collaboration with the Garages Association, supported by the National Vocational Training Institute (NVTI), trained 48 participants, with 33 successfully completing the two-year programme. “This initiative is designed to empower them and reduce unemployment in our communities,” he told the graduands. So far, Mr Yakubu said, GFGF had spent approximately US$3.6 million on training programmes such as the Graduate Training Programme, Host Community Apprenticeship Training Programme, Mine Apprenticeship Training, Heavy-Duty Equipment Programme, and Precision Welding Training Programme. The programme, he stated, was part of Gold Fields’ broader commitment to community development, corporate social responsibility, improve the livelihoods of host communities and foster a positive relationship between the company and the communities. The foundation also partnered with the Business Advisory Unit of the Municipal Assembly to provide entrepreneurship training, book-keeping, and guidance on accessing loans. The Obaahema of Bompieso, Abena Kunantwiwa, commended GFGF for their efforts, but, however, appealed for an extension of the two -year duration of training to four years, to help the trainees to fully grasp the skills. The Queenmother of Wassa Subri, Nana Ama Sarquah I,who chaired the ceremony, also harped on the critical importance of instilling a positive attitude in trainees, urging graduands to approach the job market with determination, confidence, and a commitment to excellence. The Western and Western North Regional Coordinator of TVET, Madam Ivy Yeboah, underscored the significance of technical and vocational education in combating poverty and unemployment. FROM CLEMENT ADZEI BOYE, BOMPIESO
About half of consumers would switch banks if offered better perks at other banks. (Stock) Consumers tend to stick with their banks, but some can’t turn down incentives that certain online-only banks offer. More than one in three consumers in a Vericast study said they’ve had the same bank longer than they’ve had their current romantic partner. Customers appear to stick with the same bank out of convenience more than anything. About 46% of those surveyed said they would be open to switching to other financial institutions if those institutions could address their specific financial needs. When seeking new banks, customers are mainly interested in money-earning incentives. Two major motivators customers stated for potentially switching banks included seeking better rates and earning cash back for opening a new account. Consumers also appreciate the idea of checking account offers. "Consumers want to feel the love directly from their FI [financial institution]," said Lisa Nicholas, Vericast senior vice president of FI marketing products and strategy. "Perpetual changes in consumer behavior and mindset mean FIs need to be more tuned in than ever to the relationship they have with them. From understanding their financial goals to providing offers that support their needs, FIs must be focused on authentic and personalized connections with customers to bring them new and increased value." ATM locations were also important when considering customer satisfaction with banks. Nearly one in three survey respondents said having convenient ATM locations and a large network was important to them when considering a bank. To compare your lender options for personal loans, consider heading to Credible. With Credible, you can compare personal loan rates from multiple lenders without affecting your credit score. CONSUMERS SPEND MORE THAN $1 TRILLION ON INTEREST PAYMENTS, LARGELY DUE TO INCREASING CREDIT CARD DEBT Online-only banks have been a beacon of earnings for many customers. They often have low fees and sign-up incentives, making them attractive options. However, over the last year, customer satisfaction with online-only banks has fallen, a J.D. Power report found. Although satisfaction with online-only banks is still higher than traditional banks, online-only checking account satisfaction dropped by 27 points from 2023. Online-only savings accounts also dropped, but by just eight points. "Despite significant increases in deposit interest rates for both checking and savings accounts — but decreases in the proportion of customers who had to pay a fee or experienced a problem — overall satisfaction still declined," said Paul McAdam, J.D. Power senior director of banking and payments intelligence. "That’s because customers who experienced problems had a very tough time resolving them in a timely manner, causing satisfaction with the ease of problem resolution to decline sharply." Online banks also lacked in visual appeal and design upkeep in the last year, causing some consumers to consider switching. Plus, many customers don’t appreciate the small range of services offered by some online-only banks. The three banks ranked the highest in satisfaction for their checking accounts include Charles Schwab, Ally Bank and Capital One, respectively, J.D. Power reported. Savings account providers with the highest rankings include Goldman Sachs, Ally Bank and Capital One. Credible can help you find reputable personal loan lenders that provide timely funding. Visit Credible to explore rates and loan terms and find lenders fast . CREDIT CARD USAGE IS UP AS INFLATION CONTINUES TO RISE AI is a divisive topic in many industries, banking included. How and when it could make the lives of banking customers easier remains up for debate. Customers are torn, with 28% believing AI can help their banking experience, according to a J.D. Power report . An additional 17% think AI will make their lives worse, followed by a close 24% that haven’t fully formed an opinion on AI in the fintech world. Using AI on a regular basis, or at least being familiar with it, seems to help customers value the technology. Almost half of those with AI experience said it would likely help make their lives better compared to just 6% of those not familiar with AI. Customers on both sides reported that they could set aside any negative feelings toward AI if the tools it created helped make an immediate impact on their finances. When it comes to personal loan shopping, Credible can do the heavy lifting for you . With the click of a button, you can view multiple lenders, rates and terms in one spot. MANY PERSONAL LOAN BORROWERS RELY ON LOANS FOR EVERYDAY EXPENSES AS COST OF LIVING GROWS Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.
Open Text Corp. stock rises Thursday, still underperforms marketTravis Hunter and Ashton Jeanty give this year's Heisman Trophy ceremony a different vibe