Experts react to Bank of Canada interest rate cutLongest-lived US president was always happy to speak his mind
BARCELONA, Spain (AP) — Celta Vigo gave 10-man Barcelona a shock by scoring two late goals and snatching a 2-2 draw at home in the Spanish league on Saturday. Barcelona was minutes away from a win to pad its league lead after Raphinha and Lewandowski had put Barcelona in control. But the game dramatically swung after Barcelona defensive midfielder Marc Casadó was sent off with a second booking in the 81st. Moments later Jules Koundé’s poor control of a ball in his area allowed Alfon González to pick his pocket and give the hosts hope in the 84th minute. Celta poured forward at Balaidos Stadium and Hugo Álvarez rifled in the 86th-minute equalizer with Barcelona unable to mark the extra man. AP soccer: https://apnews.com/hub/soccerNasdaq surges above 20,000 after US inflation data matches estimates
Management to Host Earnings Call on December 17, 2024 at 10:00 a.m. ET BOSTON, MA, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced financial results for the second quarter of fiscal year 2025 ended October 31, 2024. "During the quarter ended October 31, 2024, we saw a decrease in revenue, when compared to the quarter ended October 31, 2023, but an increase in revenue when compared to the quarter ended July 31, 2024. The year-over-year decrease was primarily due to a slowdown in consulting revenue, while the sequential increase was driven by our funding portal business. Despite the challenges we faced during a tough quarter, we remain optimistic about the future,” said Martin Kay, CEO of Netcapital Inc. “Recently our wholly-owned subsidiary, Netcapital Securities Inc. received approval from FINRA to become a FINRA-member broker-dealer, which marks a significant achievement for the Company as it begins to open up opportunities for more revenue channels. Looking beyond the second quarter we are focused on leveraging our new broker-dealer license and expanding our capabilities. With NSI as a registered broker-dealer, we can now support companies raising capital under Reg A and Reg D offerings, facilitate and charge fees on larger fundraises, potentially provide a broader range of investment choices for our investor base, and establish fee-sharing agreements with other broker-dealers.” Second Quarter Fiscal 2025 Financial Highlights Revenues decreased 92% year-over-year to $170,528, compared to revenue of $2,041,658 million in the second quarter of fiscal year 2024. Revenues increased 20% quarter-over-quarter to $170,528, compared to revenue of $142,227 in the first quarter of fiscal year 2025. Operating loss of ($2,202,431) in the second quarter fiscal 2025 as compared to operating income of $52,220 for the second quarter fiscal 2024 Net loss of approximately ($2,220,501) in the second quarter of fiscal 2025, as compared to a net profit of approximately $339,616, for the same period in the prior year Loss per share of ($2.34) for the quarter ended October 31, 2024, compared to earnings per share of $2.52 for the same period in the prior year As of October 31, 2024, the Company had cash and cash equivalents of $1,346,739. Conference Call Information The Company will host an investor conference call on Tuesday, December 17, 2024, at 10 a.m. ET. Participant access: 844-985-2012 or 973-528-0138 Conference entry code: 894026 For additional disclosure regarding Netcapital’s operating results, please refer to the Quarterly Report on Form 10-Q for the period ended October 31, 2024, which has been filed with the Securities and Exchange Commission. About Netcapital Inc. Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors , provides marketing and strategic advice and takes equity positions in select companies. The Company’s funding portal, Netcapital Funding Portal, Inc . is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. Forward Looking Statements The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Investor Contact 800-460-0815 ir@netcapital.com NETCAPITAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS NETCAPITAL INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Confirms pathway to profitability in late 2025 based on record quarterly revenues and materially reduced expenses MONROE TOWNSHIP, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for the second quarter ended October 31, 2024 (Q2FY25). Q2FY25 Financial Highlights Strategic partnerships continue to expand our market presence: The Company reaffirms its previously issued guidance that it believes it will reach profitability (excluding unanticipated extraordinary expenses) during the fourth quarter of calendar 2025. Performance to date reflects strong demand for products, effective cost management, and progress on our strategic initiatives. Recent achievements, including previously announced partnerships, operational milestones, successful exercises and continued customer deliveries, evidence the Company's trajectory toward achieving this stated objective. On August 12, 2024, Paragon Technologies announced via press release that its Board of Directors had resolved to terminate its shareholder campaign and all related activities targeting OPT and had terminated Hesham M. Gad as Chairman and CEO. Furthermore, on December 5, 2024, Paragon disclosed that its Audit Committee engaged legal counsel from Holland & Knight LLP to conduct an independent investigation into the conduct of Mr. Gad. These developments validate our position that the dissident shareholder campaign lacked merit. With this matter resolved, OPT can now fully focus on advancing its mission and delivering sustainable, long-term value for all shareholders. Philipp Stratmann, OPT's CEO and President, stated "I'm incredibly proud of the progress we've made this quarter. Our strategic emphasis on national security, critical infrastructure, and international market expansion continues to deliver results. This reflects not just broader macro-economic trends but our ability to penetrate diverse markets and execute for new customers. We're successfully solving problems for our customers and thus capturing a market versus creating a market while converting our expanding pipeline into revenue, driven by increasing domestic and international demand. Our ability to scale and deliver on large contracts positions us for sustained growth, and we're confident in our ability to capitalize and build on this momentum. We deliver science, not fiction. FINANCIAL HIGHLIGHTS Income Statement: A conference call to discuss OPT's financial results will be held on Tuesday December 17, 2024 at 9:00 AM EDT. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. In an effort to increase relations with institutional investors, OPT management has dedicated time to hosting individual meetings with portfolio managers and analysts. If you are interested in scheduling a meeting with OPT management, please contact: OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services. The Company's headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more, visit www.OceanPowerTechnologies.com . FORWARD-LOOKING STATEMENTS This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release or to provide further interim updates in the future. Consolidated Balance Sheets (in $000's, except share data) 2024 2024 Consolidated Statements of Operations (in $000's, except per share data) October 31, October 31,TOPEKA, Kan. (AP) — Republicans made claims about illegal voting by noncitizens a centerpiece of their 2024 campaign messaging and plan to push legislation in the new Congress requiring voters to provide proof of U.S. citizenship. Yet there's one place with a GOP supermajority where linking voting to citizenship appears to be a nonstarter: Kansas. That's because the state has been there, done that, and all but a few Republicans would prefer not to go there again. Kansas imposed a proof-of-citizenship requirement over a decade ago that grew into one of the biggest political fiascos in the state in recent memory. The law, passed by the state Legislature in 2011 and implemented two years later, ended up blocking the voter registrations of more than 31,000 U.S. citizens who were otherwise eligible to vote. That was 12% of everyone seeking to register in Kansas for the first time. Federal courts ultimately declared the law an unconstitutional burden on voting rights, and it hasn't been enforced since 2018. Kansas provides a cautionary tale about how pursuing an election concern that in fact is extremely rare risks disenfranchising a far greater number of people who are legally entitled to vote. The state’s top elections official, Secretary of State Scott Schwab, championed the idea as a legislator and now says states and the federal government shouldn't touch it. “Kansas did that 10 years ago,” said Schwab, a Republican. “It didn’t work out so well.” Steven Fish, a 45-year-old warehouse worker in eastern Kansas, said he understands the motivation behind the law. In his thinking, the state was like a store owner who fears getting robbed and installs locks. But in 2014, after the birth of his now 11-year-old son inspired him to be “a little more responsible” and follow politics, he didn’t have an acceptable copy of his birth certificate to get registered to vote in Kansas. “The locks didn’t work,” said Fish, one of nine Kansas residents who sued the state over the law. “You caught a bunch of people who didn’t do anything wrong.” Kansas' experience appeared to receive little if any attention outside the state as Republicans elsewhere pursued proof-of-citizenship requirements this year. Arizona enacted a requirement this year, applying it to voting for state and local elections but not for Congress or president. The Republican-led U.S. House passed a proof-of-citizenship requirement in the summer and plans to bring back similar legislation after the GOP won control of the Senate in November. In Ohio, the Republican secretary of state revised the form that poll workers use for voter eligibility challenges to require those not born in the U.S. to show naturalization papers to cast a regular ballot. A federal judge declined to block the practice days before the election. Also, sizable majorities of voters in Iowa, Kentucky, Missouri, Oklahoma, South Carolina and the presidential swing states of North Carolina and Wisconsin were inspired to amend their state constitutions' provisions on voting even though the changes were only symbolic. Provisions that previously declared that all U.S. citizens could vote now say that only U.S. citizens can vote — a meaningless distinction with no practical effect on who is eligible. To be clear, voters already must attest to being U.S. citizens when they register to vote and noncitizens can face fines, prison and deportation if they lie and are caught. “There is nothing unconstitutional about ensuring that only American citizens can vote in American elections,” U.S. Rep. Chip Roy, of Texas, the leading sponsor of the congressional proposal, said in an email statement to The Associated Press. After Kansas residents challenged their state's law, both a federal judge and federal appeals court concluded that it violated a law limiting states to collecting only the minimum information needed to determine whether someone is eligible to vote. That's an issue Congress could resolve. The courts ruled that with “scant” evidence of an actual problem, Kansas couldn't justify a law that kept hundreds of eligible citizens from registering for every noncitizen who was improperly registered. A federal judge concluded that the state’s evidence showed that only 39 noncitizens had registered to vote from 1999 through 2012 — an average of just three a year. In 2013, then-Kansas Secretary of State Kris Kobach, a Republican who had built a national reputation advocating tough immigration laws, described the possibility of voting by immigrants living in the U.S. illegally as a serious threat. He was elected attorney general in 2022 and still strongly backs the idea, arguing that federal court rulings in the Kansas case “almost certainly got it wrong.” Kobach also said a key issue in the legal challenge — people being unable to fix problems with their registrations within a 90-day window — has probably been solved. “The technological challenge of how quickly can you verify someone’s citizenship is getting easier,” Kobach said. “As time goes on, it will get even easier.” The U.S. Supreme Court refused to hear the Kansas case in 2020. But in August, it split 5-4 in allowing Arizona to continue enforcing its law for voting in state and local elections while a legal challenge goes forward. Seeing the possibility of a different Supreme Court decision in the future, U.S. Rep.-elect Derek Schmidt says states and Congress should pursue proof-of-citizenship requirements. Schmidt was the Kansas attorney general when his state's law was challenged. "If the same matter arose now and was litigated, the facts would be different," he said in an interview. But voting rights advocates dismiss the idea that a legal challenge would turn out differently. Mark Johnson, one of the attorneys who fought the Kansas law, said opponents now have a template for a successful court fight. “We know the people we can call," Johnson said. “We know that we’ve got the expert witnesses. We know how to try things like this.” He predicted "a flurry — a landslide — of litigation against this.” Initially, the Kansas requirement's impacts seemed to fall most heavily on politically unaffiliated and young voters. As of fall 2013, 57% of the voters blocked from registering were unaffiliated and 40% were under 30. But Fish was in his mid-30s, and six of the nine residents who sued over the Kansas law were 35 or older. Three even produced citizenship documents and still didn’t get registered, according to court documents. “There wasn’t a single one of us that was actually an illegal or had misinterpreted or misrepresented any information or had done anything wrong,” Fish said. He was supposed to produce his birth certificate when he sought to register in 2014 while renewing his Kansas driver's license at an office in a strip mall in Lawrence. A clerk wouldn't accept the copy Fish had of his birth certificate. He still doesn't know where to find the original, having been born on an Air Force base in Illinois that closed in the 1990s. Several of the people joining Fish in the lawsuit were veterans, all born in the U.S., and Fish said he was stunned that they could be prevented from registering. Liz Azore, a senior adviser to the nonpartisan Voting Rights Lab, said millions of Americans haven't traveled outside the U.S. and don't have passports that might act as proof of citizenship, or don't have ready access to their birth certificates. She and other voting rights advocates are skeptical that there are administrative fixes that will make a proof-of-citizenship law run more smoothly today than it did in Kansas a decade ago. “It’s going to cover a lot of people from all walks of life,” Avore said. “It’s going to be disenfranchising large swaths of the country.” Associated Press writer Julie Carr Smyth in Columbus, Ohio, contributed to this report.
Online child exploitation spiked during lockdowns. Police worry it’s here to stayNasdaq surges above 20,000 after US inflation data matches estimatesThe Minister of Information and National Orientation, Mohammed Idris, has reaffirmed the Federal Government’s commitment to media freedom and the protection of Nigeria’s civic space, calling on journalists to exercise their freedoms responsibly. Idris, who spoke at the 2024 Annual General Congress of the International Press Institute Nigeria in Abuja on Wednesday stressed the press’s critical role in sustaining democracy while advocating greater accountability in its practices. The conference, with the theme “Democracy, Media Freedom, and the Imperative of Protecting Nigeria’s Civic Space,” brought together media professionals, policymakers, and stakeholders. Idris praised the press as one of the world’s most fearless institutions, highlighting its historic role in securing the country’s independence, ending military rule, and sustaining the fourth republic. “In this very important journey of democracy, the media has been a constant presence and companion. The Nigerian press is one of the most assertive and unyielding in the world, and it has always been so,” he said. However, Idris stressed that media freedom must come with responsibility. He urged journalists to balance their watchdog role with accountability and professionalism, warning against the misuse of the immense power they wield in shaping public opinion and discourse. “Let me stress that the civic space must be a civil space. There must be room for nuance, for healthy debate, for not always rushing to demonise those we disagree with. Related News Tax Reform debates key to strengthening democracy – Minister Nigeria’s tax system long overdue for reforms, says minister Minister condoles with Niger over Minna Chief Imam’s death “At the same time, there is ample room for holding institutions to account, whether public or private. And yes, those elected and appointed to public office must always understand that they keep these offices in trust for the people, and owe it to these owners to be accountable at all times. “These truths can and must all coexist, if we want to forge a stronger democracy, as the foundation for the strong and prosperous Nigeria of our dreams,” the minister explained. Idris pointed to President Bola Tinubu administration’s track record on media freedom, citing his personal interventions to uphold press rights since assuming office in August 2023. He also highlighted Tinubu’s legacy as a media entrepreneur and a champion of democracy, noting the administration’s unwavering commitment to safeguarding the civic space and fostering open dialogue. The minister linked media freedom to the success of Nigeria’s broader reforms under the “Renewed Hope Agenda.” He urged journalists to support the government’s efforts aimed at fostering inclusive growth and redirecting funds from wasteful subsidies into infrastructure, education, and social investments.
QND symbolises national unity, wise leadership of modern state
Quipt Home Medical Reports Fourth Quarter and Fiscal Year 2024 Financial Results
American and European stock markets mostly rose on Wednesday after inflation data cemented expectations that the US Federal Reserve will trim interest rates next month. While the Dow fell slightly, the other two major US indices advanced, led by the tech-rich Nasdaq, which piled on almost two percent to close above 20,000 points for the first time. The consumer price index (CPI) rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October. "With the CPI numbers broadly in line, it is likely that the Fed will not be derailed and will cut rates again next week," Jochen Stanzl, chief market analyst at CMC Markets. "The data is not a showstopper for the current bull run on Wall Street," he added. Ahead of the data, investors priced in an 86 percent chance the Fed will cut interest rates next week by a quarter percentage point. That rose to more than 98 percent after the CPI data was published. Stocks in Paris and Frankfurt rose ahead of the European Central Bank's own interest rate announcement on Thursday, with analysts expecting another cut as it seeks to boost eurozone growth. Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister "within 48 hours" as he seeks to end political deadlock following the ouster of Michel Barnier. In company news, shares in German retail giant Zalando shed more than four percent on Frankfurt's DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion). Shares in Zara owner Inditex slid more than six percent after a record quarterly profit for the group fell short of market estimates. Among US companies, Google parent Alphabet earned 5.5 percent as it announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date. That added to gains after Google also announced Tuesday details of a breakthrough quantum chip. Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red. Traders were keeping tabs on China to see if it will announce further measures to support its struggling economy as leaders were to gather Wednesday for a conference to hammer out next year's agenda. President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would "implement a more active fiscal policy and an appropriately relaxed" strategy. Those remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending. New York - Dow: DOWN 0.2 percent at 44,148.56 (close) New York - S&P 500: UP 0.8 percent at 6,084.19 (close) New York - Nasdaq Composite: UP 1.8 percent at 20,034.89 (close) London - FTSE 100: UP 0.3 percent at 8,301.62 (close) Paris - CAC 40: UP 0.4 percent at 7,423.40 (close) Frankfurt - DAX: UP 0.3 percent at 20,399.16 (close) Tokyo - Nikkei 225: FLAT at 39,372.23 (close) Hong Kong - Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close) Shanghai - Composite: UP 0.3 percent at 3,432.49 (close) Euro/dollar: DOWN at $1.0498 from $1.0527 on Tuesday Pound/dollar: DOWN at $1.2752 from $1.2771 Dollar/yen: UP at 152.40 yen from 151.95 yen Euro/pound: DOWN at 82.31 from 82.42 pence Brent North Sea Crude: UP 1.8 percent at $73.52 per barrel West Texas Intermediate: UP 2.4 percent at $70.29 per barrel burs-jmb/mlm Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.Specialized Workers at Edmonton Public Schools Join CUPE
A pair of teams with minimal rest will face off in Nassau, Bahamas, on Sunday when No. 22 St. John takes on Georgia. St. John's (5-1), which will play its third game in four days, began the stretch in the Bahamas Championship on Thursday, dropping a heartbreaker to No. 13 Baylor. The Red Storm led by 18 in the first half before Baylor forced overtime. From there, St. John's rallied from five down with 1:47 left to send the game to a second overtime, where it saw Baylor knock down a pair of 3-pointers in the final seven seconds -- including Jeremy Roach's buzzer-beater -- to knock off the Red Storm 99-98. In the third-place game on Friday, St. John's breezed past Virginia 80-55. RJ Luis Jr. led the way with 18 points and four steals, followed by Kadary Richmond's 12 points, as the Red Storm took a one-point lead with 15:21 left in the first half and didn't trail again. "I'm really impressed with our guys, coming off a double-overtime, extremely emotional loss," St. John's head coach Rick Pitino said. "To respond that way was extremely impressive, both offensively and defensively." Pitino, in his second year with the Red Storm, was moved by something off the court on Friday, involving captain Zuby Ejiofor, who chipped in eight points, nine boards, two steals and two blocks. Ejiofor was serenaded by St. John's fans during the win, following his two missed free throws at the end of double overtime against Baylor. "When you've only been in a job for a year, you search for things you love about a place," Pitino said. "Tonight I found out what I love about St. John's. Our fans chanted Zuby's name the whole game, which doesn't happen anywhere else in America. I was really impressed with our fans and I thank them for making Zuby feel good, because he gives you all the energy." Luis leads the Red Storm with 17.3 points per game, followed by Ejiofor (10.7), Aaron Scott (10.5), Deivon Smith (10.3) and Richmond (10.2). Georgia enters Sunday's matchup looking to rebound from its first loss after falling to No. 15 Marquette 80-69 on Saturday. Georgia (5-1) battled back from a 15-point, second-half deficit, but was held to just three points over the final 4:57 in Saturday's loss. Blue Cain led the Bulldogs with a season-high 17 points, including five 3-pointers. "It's a process. It's a journey with this team," Bulldogs head coach Mike White said. "It's about continuing to make strides, continuing to protect our culture. ... At the end of the day, wins and losses are going to take care of themselves. We just have to embrace the process and enjoy it." Five-star freshman recruit Asa Newell was held to a season-low nine points but leads the team with 15.5 points per game. Silas Demary Jr. is second with 13.8. --Field Level MediaJimmy Carter: A brief bio