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Stock market today: Wall Street ends little changed after giving up a big morning gainPresident-elect Donald Trump announced on Tuesday that Elon Musk and Vivek Ramaswamy will lead the new Department of Government Efficiency during Trump's second term. President-elect Donald Trump is reportedly considering rolling back the Biden administration's credit for electric vehicles – a move that experts say would have varying effects across the automotive industry. President Biden implemented a tax credit of up to $7,500 to incentivize the purchase of greener vehicles. However, sources with knowledge of the matter told Reuters that Trump plans to ax the tax credit as part of his sweep of Biden's climate agenda. While the decision remains in debate among oil and energy advocates, one group promoting public policy on behalf of the natural gas industry suggested that behind the scenes, automotive groups and consumers could feel relieved if the EV credit is eliminated. "Losing $70,000 on an EV is not a winning business model and U.S. automakers know that," said Tim Stewart, president of the U.S. Oil & Gas Association. Stewart said axing the EV tax credit gives members of the auto industry the opportunity to shift back to traditional production lines. HOUSE PASSES BILL TO BOLSTER GEOTHERMAL ENERGY PRODUCTION BY INCREASING LEASE SALE FREQUENCY "If I was a CEO, I would quietly be relieved to have a reason to shift production lines back to traditional models and invest in new hybrid technologies," Stewart told Fox News Digital. "The EV tax credit was the only way to entice consumers to ‘maybe’ purchase something they really didn’t want, but told by the Biden folks they had to buy." FILE - An electric car charges at a mall parking lot on June 27, 2022, in Corte Madera, California. (Photo by Justin Sullivan/Getty Images) "With the tax credit gone and the onerous Biden regulatory mandates lifted, the new administration is providing the exit ramp the U.S. producers were really hoping for, and U.S. consumers really want." HOUSE PASSES BILL BLOCKING BIDEN ADMIN ATTEMPT TO REQUIRE TWO-THIRDS OF NEW CARS TO BE ELECTRIC WITHIN YEARS However, proponents of the tax credit, such as Energy Secretary Jennifer Granholm – and those advocating for the switch to EVs – say its elimination would result in the U.S. being less competitive in the industry. "The auto industry is investing billions of dollars in EV battery and EV manufacturing in the United States. Eliminating the tax credit will hurt the U.S. auto industry and make American manufacturers less globally competitive," said Ingrid Malmgren, senior policy director of Plug In America, a Los-Angeles based nonprofit advocating for the transition to EVs. The elimination of the tax credit could have differing effects across the auto industry, experts say. One of Trump's strongest allies, Tesla CEO Elon Musk , revealed in July that he supports getting rid of the credit. "Take away the subsidies," Musk posted to X, saying "it will only help Tesla." Companies that are financially sound, such as Tesla, could benefit if the playing field for electric vehicles is narrowed, while the smaller companies that rely on the tax credit for consumer affordability could face setbacks, analysts suggest. "Tesla has such a big cost advantage in EVs," said David Whiston, an analyst at financial services firm Morningstar Inc, according to a report from CPA Practicing Advisor. "Getting rid of that tax credit wouldn’t necessarily hurt them." Dan Ives, a senior equity research analyst covering the technology sector at Wedbush Securities with a focus on EVs, conducted a review of the market impact on Tesla if the EV credit is removed. "While this is a clear negative for the EV industry at first look and would particularly hurt GM, Ford, Stellantis, and Rivian... on the flip side, we view this as a net bullish move for Tesla and Musk over time," Ives said in a report on Tesla. "We expect Musk to have a big seat at the table as these EV discussions happen within the Trump transition team." "In line with our thoughts over the past few weeks, Tesla has a scale and scope that is unmatched and while losing the EV tax credit could also hurt some demand on the margins in the U.S., this will enable Tesla to further fend off competition from Detroit as pricing/scale/scope is apples to oranges when compared to the rest of the auto industry once the EV tax credit disappears," Ives added. Ives also said that removing the credit could slow down the shift toward EVs in Detroit, specifically. During his campaign, Trump highlighted his intent to target Biden's clean energy-driven initiatives, such as vowing to "cancel the electric vehicle mandate." Find more updates on this story at FOXNews.com.( MENAFN - GlobeNewsWire - Nasdaq) KELLOGG, Idaho and VANCOUVER, British Columbia, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Bunker Hill mining Corp. (“ Bunker Hill ” or the“ Company ”) ( TSXV:BNKR | OTCQB:BHLL ) announces certain updates to its news release dated December 20, 2024 in connection with the Company's election to issue an aggregate of up to 8,446,194 shares of common stock of the Company (“ Common Shares ”) in full satisfaction of debenture interest payment obligations and outstanding financing cooperation fees, including: (i) an aggregate of up to 7,392,859 Common Shares (the“ Interest Shares ”) to certain holders of 7.5% convertible debentures (the“ Series 1 Convertible Debentures ”) and 10.5% convertible debentures (the“ Series 2 Convertible Debentures ” and, together with the Series 1 Convertible Debentures, the“ Convertible Debentures ”) in full satisfaction of the interest payable thereunder as of December 31, 2024 in the aggregate amount of USD$517,500.00 (the“ Interest Payment ”); and (ii) an aggregate of up to 1,053,335 Common Shares to a certain service provider of the Company (the“ Service Provider ”) in full satisfaction of the Q3 Cooperation Fee and Q4 Cooperation Fee (each as defined below). Convertible Debentures In accordance with the terms of the Convertible Debentures, the Company will issue the Interest Shares at a price of USD$0.07 per Interest Share based on 90% of the 10-day volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the“ TSX-V ”) on the trading days beginning on December 9, 2024 and ending on December 20, 2024 (the“ Pricing Period ”). Further to its news release dated December 20, 2024, the Company will issue an aggregate of up to 7,119,049 Interest Shares to certain managed accounts of Sprott Private Resource Streaming and Royalty Corp. (“ Sprott ”) in connection with the Interest Payment, instead of 7,392,859 Interest Shares as previously disclosed. Accordingly, the issuance of such Interest Shares to Sprott will constitute a“related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholder Approval (“ MI 61-101 ”). The Company will rely on exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the Interest Shares to be issued to Sprott, nor the consideration received for such Interest Shares, will exceed 25% of the Company's market capitalization. Financing Cooperation Fee The Settlement Shares are being issued pursuant to the terms of an agreement re financing cooperation dated September 27, 2022 (the“ Cooperation Agreement ”) entered into by and among the Company, its wholly owned subsidiary Silver Valley Metals Corp. (“ Silver Valley ”), the Service Provider and the Service Provider's affiliates, in consideration for the Service Provider and its affiliates providing certain collateral security in order for the Company and Silver Valley to obtain certain surety bonds with respect to the Bunker Hill Mine (the“ Collateral Security ”). The Company has elected to issue up to 509,480 Common Shares (each, a“ Q3 Share ”) at a deemed issue price of C$0.16 per Q3 Share to the Service Provider in full satisfaction of the aggregate US$60,000 financing cooperation fee owing to the Service Provider for providing the Collateral Security for the three (3) month period ending on September 30, 2024 (the“ Q3 Cooperation Fee ”). T he Company also intends to issue up to 543,855 Common Shares (each, a“ Q2 Share ” and, together with the Q3 Shares, the“ Settlement Shares ”) at a deemed issue price of C$0.15 per Q2 Share in full satisfaction of the US$60,000 financing cooperation fee owing to the Service Provider for providing the Collateral Security for the three (3) month period ending on June 30, 2024. In accordance with the terms of the Cooperation Agreement, the Company elected to issue the Settlement Shares in lieu of paying cash to preserve its cash for the potential restart and ongoing development of the Bunker Hill Mine. The issuance of the Common Shares described above remains subject to the receipt of all regulatory and stock exchange approvals. Once issued, the Interest Shares and the Settlement Shares will each be subject to a four (4) month and one (1) day hold period from the applicable date of issuance in accordance with applicable Canadian securities laws. The Interest Shares and the Settlement Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the“ U.S. Securities Act ”) or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or in compliance with the requirements of an applicable exemption therefrom. ABOUT BUNKER HILL MINING CORP. Under Idaho-based leadership, Bunker Hill intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating and then optimizing a number of mining assets into a high-value portfolio of operations, centered initially in North America. Information about the Company is available on its website, , or within the SEDAR+ and EDGAR databases. On behalf of Bunker Hill Sam Ash President, Chief Executive Officer and Director For additional information, please contact: Brenda Dayton Vice President, Investor Relations T: 604.417.7952 E: ... Cautionary Statements Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release. Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the U.S. Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 – Continuous Disclosure Obligations (collectively,“ forward-looking statements ”). Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as“believes”,“anticipates”,“expects”,“estimates”,“may”,“could”,“would”,“will”,“plan” or variations of such words and phrases. Forward-looking statements in this news release include, but are not limited to, statements regarding: the Company's objectives, goals or future plans, including the restart and development of the Bunker Hill Mine; the achievement of future short-term, medium-term and long-term operational strategies; the terms and completion of the share transactions described herein, including the number and deemed pricing of the Interest Shares and the Settlement Shares, respectively, issuable in connection therewith, and the Company receiving all regulatory and stock exchange approvals for the share transactions described herein. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: Bunker Hill's ability to complete the share transactions on the terms described herein or at all; Bunker Hill's ability to receive sufficient project financing for the restart and ongoing development of the Bunker Hill Mine on acceptable terms or at all; the future price of metals; and the stability of the financial and capital markets. Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, those risks and uncertainties identified in public filings made by Bunker Hill with the U.S. Securities and Exchange Commission (the“ SEC ”) and with applicable Canadian securities regulatory authorities, and the following: the Company's inability to raise additional capital for project activities, including through equity financings, concentrate offtake financings or otherwise; capital market conditions; restrictions on labor and its effects on international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the Company's ability to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; and capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on such statements or information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all, including as to whether or when the Company will achieve its project finance initiatives, or as to the actual size or terms of those financing initiatives. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Readers are cautioned that the foregoing risks and uncertainties are not exhaustive. Additional information on these and other risk factors that could affect the Company's operations or financial results are included in the Company's annual report and may be accessed through the SEDAR+ website ( ) or through EDGAR on the SEC website ( ). MENAFN23122024004107003653ID1109025602 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Supreme Facility Management Limited, a leader in Integrated Facilities Management, is poised to launch its Initial Public Offering (IPO) on December 11, 2024, aiming to raise up to Rs 50 Crore. The shares, ranging from Rs 72 to Rs 76, will debut on the National Stock Exchange's Emerge platform. The IPO issue comprises 65,79,200 equity shares pegged at a face value of Rs 10 each. Target allocations include up to 6,25,600 shares for Qualified Institutional Buyers, not less than 28,11,200 shares for Non-Institutional Investors, and not less than 28,12,800 shares for Retail Investors, alongside 3,29,600 shares reserved for market makers. Proceeds are intended to fortify working capital and fuel strategic acquisitions, thus reinforcing Supreme's market presence. The IPO, managed by Khandwala Securities Limited and KFin Technologies Limited as registrar, closes on December 13, 2024. Industry experts affirm the initiative as timely, given the sector's robust growth trajectory. (With inputs from agencies.)Trump names Andrew Ferguson as head of Federal Trade Commission to replace Lina Khan
Dow Rebounds, Ending 10-Day Losing StreakThe arms race in large language artificial intelligence (AI) is heating up. Can the Gulf countries play a leading role in the sector, given the high savings, cheap energy and good political ties with the US? The tech billionaire Elon Musk has alarmed competitors, and intrigued customers and observers, by rapidly building a supercomputer, appropriately known as Colossus, in just 120 days, in Memphis Tennessee in a new data centre. Its purpose is to power his xAI technology, and it will be of an unprecedented scale: Some 100,000 graphics processing units supplied by Nvidia. Competitors are nervous. There is no guarantee that this formidable scaling up of computer power will give his xAI a superior edge, but no certainty that it won’t. Industry experts reckon that the tools at the rival OpenAI are currently superior, but the sheer computing muscle of Colossus may help xAI close the gap or overtake. What does this mean for the economic world, including the Gulf? The impact of AI is already being felt, will continue and likely intensify. You could say that there has been much hype around AI, accidents such as ‘hallucinations’ in large language models and technical glitches. But you could have made similar criticisms about the aviation sector in the early 20th century – there were crashes and failed models, but it still proceeded to transform long-distance travel around the globe. AI is at a similar stage 100 years on. And just as you need a skilled pilot for an aircraft, similar principles apply with AI. Harvard Business Review in its September-October edition refers to the development of ‘fusion skills’ – the most intelligent applications of AI in which human and artificial intelligence is most effectively combined. For example, breaking a complex problem down into sequential parts, and priming the large language model to address each challenge sequentially, beginning with the simplest, is more effective than asking it to solve a complex problem in one go. Researchers at Google DeepMind have found that this ‘least-to-most’ approach improves the accuracy of AI output from 16% to 99%. Research by the Boston Consulting Group has found that only a minority of firms gain substantial value from AI, and that the most successful companies ensure that the people, skills and processes are optimal. This is the 70-20-10 principle: 70% of the investment is in people and processes; 20% is in technology and data, and just 10% in the algorithms. The most effective companies used AI for growth and revenue generation, not just process efficiencies. In this rapidly developing technology, how should the Gulf countries invest and position themselves? It is likely that China and the US will remain the primary providers of AI, given the scale of the technological investment required, as illustrated by the examples of Elon Musk and his rivals. The response of the Gulf sovereign wealth funds and other key players has been promising. Rather than trying to compete with the US and China in a direct way, they are developing strategic support roles within the existing industry, while identifying niche opportunities for growth. Arabic language models constitute a promising industry. AI specialist companies within the region report that it costs around one third more to train an English large language model and then translate into Arabic, than to train one using Arabic inputs. Doing so can eliminate some of the western biases of English-language models. For Gulf economies, cheap energy offers another competitive advantage in developing AI hubs. Saudi Aramco has calculated that the cost of power locally is around 13% cheaper than the cost per kilowatt hour in the US. Given the considerable computing power needed for large language models, this is significant. Geopolitical considerations are of paramount importance. The Gulf states are political allies of the US, which does not want technological know-how falling into the hands of Iran or China. Saudi Arabia’s sovereign wealth fund PIF has announced a strategic partnership with Google Cloud to develop a specialist hub, which will be a research and education centre, including for Arabic language models, and a base for global enterprises and startups. It will be based near Dammam. This year the United Arab Emirates launched the fund MGX, totalling $100bn, with investors including BlackRock and Microsoft, dedicated to investing in AI companies. The AI revolution is well underway, and there will be significant returns for both providers and users. So far, the key players in the Gulf have made some smart strategic calls. The author is a Qatari banker, with many years of experience in the banking sector in senior positions. Related Story 61 countries to compete in 8th Katara Award for Reciting Holy Qur’an Sheikha Al Mayassa unveils 'The Race Is On' exhibition
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Fastly, Inc. (FSLY) UBS Global Technology and AI Conference (Transcript)MEXICO CITY — Mexican soldiers and marines seized over a ton of fentanyl pills in two raids in the north, with officials calling it the biggest catch of the synthetic opioid in the country’s history. The raids came after a sharp drop in fentanyl seizures in Mexico earlier this year, and days after U.S. President-elect Donald Trump threatened to impose 25% tariffs on products from Canada and Mexico unless those countries cracked down on the flow of migrants and drugs across the border. Experts say the timing may not be a coincidence. “It is clear that the Mexican government has been managing the timing of fentanyl seizures,” security analyst David Saucedo said. “But under the pressure by Donald Trump, it appears President Claudia Sheinbaum’s administration is willing to the increase the capture of drug traffickers and drug seizures that Washington is demanding.” Saucedo said it’s clear the Mexican government “doesn’t see fentanyl as one of its own problems, and fighting it isn’t its priority,” He said big busts would only occur “when there is pressure from Washington.” Mexico’s top security official said soldiers and marines spotted two men carrying guns late Tuesday in the northern state of Sinaloa, home to the drug cartel of the same name. They chased the men, who ran into two houses. In one house soldiers found about 660 pounds of fentanyl, and in the other a truck packed with about 1,750 pounds of the drug, mostly in pill form. “In Sinaloa, we achieved the biggest seizure in history of fentanyl,” Public Safety Secretary Omar Garcia Harfuch wrote in his social media accounts. Several guns also were seized and two men were arrested. Sheinbaum said Wednesday “this is an investigation that had been going on for some time, and yesterday it bore fruit.” That claim contrasts with the seemingly random nature of the bust, which started when a military patrol “noticed the presence of two men carrying what appeared to be guns.” In the past, Mexican security forces sometimes used the story of following armed men running into houses as a pretext to enter homes without search warrants. In at least one case, the government version was disproved by security camera footage. The latest haul is striking because fentanyl seizures in Mexico fell dramatically in the first half of the year. At some points during the summer, under former President Andrés Manuel López Obrador, federal forces reported seizures amounted to as little as 2 ounces per week. Figures for the first half of 2024 show Mexican federal forces seized only 286 pounds of fentanyl nationwide from January to June, down 94% from the 5,135 pounds 2,329 kilograms seized in 2023. The synthetic opioid is blamed for about 70,000 overdose deaths annually in the United States, and U.S. officials have tried to step up efforts to seize it as it comes over the border, often in the form of counterfeit pills made in Mexico from precursor chemicals largely imported from China. López Obrador always denied fentanyl is produced in Mexico, though experts — and even members of his own administration — acknowledge it is. Get local news delivered to your inbox!RICHMOND, Va. , Nov. 22, 2024 /PRNewswire/ -- Universal Corporation (NYSE:UVV) ("Universal" or the "Company"), a global business-to-business agriproducts company, today announced that, as expected, on November 19, 2024 , it received a notice (the "NYSE Notice") from the New York Stock Exchange (the "NYSE") that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 (the "Form 10-Q") with the U.S. Securities and Exchange Commission (the "SEC") prior to November 18, 2024 , the end of the extension period provided by Rule 12b -25 under the Securities Exchange Act of 1934, as amended. The NYSE Notice has no immediate effect on the listing of the Company's common stock on the NYSE. The NYSE Notice informed the Company that, under NYSE rules, the Company has six months from November 18, 2024 , to regain compliance with the NYSE listing standards by filing the Form 10-Q with the SEC. If the Company fails to file the Form 10-Q within the six-month period, the NYSE may grant, in its sole discretion, an extension of up to six additional months for the Company to regain compliance, depending on the specific circumstances. The NYSE Notice also noted that the NYSE may nevertheless, in its own discretion, commence delisting proceedings at any time during such period. As previously disclosed in the Company's Notification of Late Filing on Form 12b-25, filed on November 12, 2024 (the "Form 12b-25") with the SEC, the Company was unable to file the Form 10-Q on a timely basis due to an ongoing internal investigation. As a result of the additional time required to complete its internal investigation, the process of finalizing financial statements for the second quarter of fiscal year 2025 could not be completed on a timely basis. The Company is committed to completing a deliberate, thorough investigation while diligently working to fulfill all reporting obligations and currently expects to file the Form 10-Q within the six-month period granted by the NYSE Notice; however, there can be no assurance that the Form 10-Q will be filed within such period. About Universal Corporation Universal Corporation (NYSE: UVV) is a global agricultural company with over 100 years of experience supplying products and innovative solutions to meet our customers' evolving needs and precise specifications. Through our diverse network of farmers and partners across more than 30 countries on five continents, we are a trusted provider of high-quality, traceable products. We leverage our extensive supply chain expertise, global reach, integrated processing capabilities, and commitment to sustainability to provide a range of products and services designed to drive efficiency and deliver value to our customers. For more information, visit www.universalcorp.com . CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Among other things, these statements include statements regarding expectations about the Company's filing of its Form 10-Q for the quarter ended September 30, 2024 . These forward-looking statements are generally identified by the use of words such as we "expect," "believe," "anticipate," "could," "should," "may," "plan," "will," "predict," "estimate," and similar expressions or words of similar import. These forward-looking statements are based upon management's current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results, performance, or achievements to be materially different from any anticipated results, prospects, performance, or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the uncertainty of the ultimate findings of the ongoing internal investigation, as well as the timing of its completion and costs and expenses arising out of the ongoing internal investigation process and its results; the impact of the ongoing internal investigation on us, our management and operations, including financial impact as well as any litigation or regulatory action that may arise from the ongoing internal investigation; the impact of the internal investigation on our conclusions regarding the effectiveness of our internal control over financial reporting and our disclosure controls and procedures; our ability to regain compliance with NYSE listing requirements; success in pursuing strategic investments or acquisitions and integration of new businesses and the impact of these new businesses on future results; product purchased not meeting quality and quantity requirements; our reliance on a few large customers; our ability to maintain effective information technology systems and safeguard confidential information; anticipated levels of demand for and supply of our products and services; costs incurred in providing these products and services including increased transportation costs and delays attributed to global supply chain challenges; timing of shipments to customers; higher inflation rates; changes in market structure; government regulation and other stakeholder expectations; economic and political conditions in the countries in which we and our customers operate, including the ongoing impacts from international conflicts; product taxation; industry consolidation and evolution; changes in exchange rates and interest rates; impacts of regulation and litigation on its customers; industry-specific risks related to its plant-based ingredient businesses; exposure to certain regulatory and financial risks related to climate change; changes in estimates and assumptions underlying our critical accounting policies; the promulgation and adoption of new accounting standards, new government regulations and interpretation of existing standards and regulations; and general economic, political, market, and weather conditions. Actual results, therefore, could vary from those expected. Please also refer to such other factors as discussed in Part I, Item 1A. "Risk Factors" of Universal's Annual Report on Form 10-K for the fiscal year ended March 31, 2024 , and related disclosures in other filings which have been filed with the U.S. Securities and Exchange Commission and are available on the SEC's website at www.sec.gov . All risk factors and uncertainties described herein and therein should be considered in evaluating forward-looking statements, and all of the forward-looking statements are expressly qualified by the cautionary statements contained or referred to herein and therein. Universal cautions investors not to place undue reliance on any forward-looking statements as these statements speak only as of the date when made, and it undertakes no obligation to update any forward-looking statements made, except as required by law. View original content to download multimedia: https://www.prnewswire.com/news-releases/universal-corporation-receives-nyse-notice-regarding-filing-of-form-10-q-for-the-fiscal-quarter-ended-september-30-2024-302314579.html SOURCE Universal Corporation
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Del Bigtree, a leading voice in the anti-vaccine movement, brought in a record windfall last year for the nonprofit group he founded, according to the latest tax filings. The Informed Consent Action Network, known as ICAN, reported $23 million in revenue for 2023, a 74% increase from the previous year. The group spent nearly $17 million on efforts including legal battles and anti-vaccine advocacy, an increase of about 25% from the year before. The tax documents, obtained by NBC News from ICAN, show the increasing prominence and profitability of the anti-vaccine movement in the ongoing fight over vaccine policies and public health. The pandemic supercharged groups like ICAN , which reported about $3.5 million in revenue in 2019, expanding the audience interested in anti-vaccine content and growing the coffers of those who produce it. Numerous studies have found that vaccines are safe and save lives , and are not linked to autism , but that hasn’t stopped misinformation from spreading. Revenue for Children’s Health Defense, the anti-vaccine organization founded by Robert F. Kennedy Jr., had been on the rise as well until last year, when it dropped more than 30% , to $16 million. This loss coincided with Kennedy taking a leave from his positions as chairman and chief litigation counsel to launch an unsuccessful presidential bid. But ICAN’s revenue continued to grow, and Bigtree’s profile has risen. The former television producer and anti-vaccine filmmaker, whose organization was known for attention-grabbing stunts and filing freedom of information requests , became communications director for Kennedy’s third-party presidential campaign and advised Kennedy as he prepared for his potential role as secretary of Health and Human Services . Bigtree and ICAN did not respond to requests for comment. Katie Miller, a spokesperson for Kennedy’s transition team who was recently named to join the newly created Department of Government Efficiency, said Bigtree was never involved in the transition, and his views “do not represent Mr. Kennedy’s or President Trump’s administration.” ICAN is not required to disclose individual donors, though tax documents filed last year show large donations from family foundations and donor-advised funds, philanthropic intermediaries that combine and anonymize donations. The group has celebrated what it characterizes as several big wins last year, including litigation that forced Mississippi to grant religious exemptions from vaccines. The group says it plans to pursue a similar strategy targeting the five other states that don’t allow religious exemptions. ICAN relies on individual supporters to fund production of anti-vaccine content, including “The HighWire,” a weekly anti-vaccine and conspiracy-laden internet show hosted by Bigtree that the group describes as its educational arm. Bigtree punctuates the show not with commercials but with impassioned pleas for donations, recently with multimillion-dollar fundraising goals associated with specific legal fights. ICAN’s largest expenditure last year, $6 million, was to the New York law firm Siri & Glimstad, which pursues public records requests, intervenes in state anti-vaccine fights and petitions the federal government to pause or revoke vaccines, including one for polio . Led by Aaron Siri, an attorney and Kennedy adviser, the firm, aided by dozens of attorneys working on vaccine cases, has been paid some $20 million by ICAN since 2017, according to tax documents. Siri defended his work in an email to NBC News, saying his petitions sought increased safety for vaccines and that ICAN’s financial support was “trivial” compared to spending by the pharmaceutical industry. Miller said Siri was no longer involved in the transition and that he does not represent Kennedy’s views. ICAN describes its legal efforts as “advocating for humanity’s right to informed consent.” Experts have described it as an exploitation of the courts. “Again and again, this anti-vaccine group misrepresented both the legal and the factual meanings of court decisions, settlements, and other legal actions to create a narrative to galvanize its followers and influence newcomers,” a 2022 article in the Northwestern Journal of Law and Social Policy read. (Siri called the article “replete with categorically false claims.”) The intent of other spending was less clear. ICAN paid $176,000 for “research consulting” to a U.K. company headed by a chiropractor who has lectured on what he claims are dangers from vaccines and 5G technology. The group also paid $152,000 for consulting to Uncover DC, a news website founded and edited by Tracy Diaz, known online as Tracy Beanz, a popular conspiracy theorist and early promoter in the QAnon movement. Diaz, who describes her site as “actual journalism,” posts news releases for ICAN and writes for the nonprofit’s website as a contributor. Bigtree took home a $234,000 salary from ICAN in 2023, in addition to his income from paid speaking engagements (he says he only charges for ticketed events). Bigtree also earned $350,000 for consulting and communications work on Kennedy’s presidential campaign over the past two years through KFP Consulting, a Texas organization registered to Bigtree. Bigtree now helms a super PAC (MAHA Alliance) and a nonprofit organization (MAHA Action), both short for Make America Healthy Again, a spin on Trump’s MAGA motto adopted by Kennedy after he dropped out of the race and endorsed the ultimately winning candidate. Bigtree acknowledged his multiple streams of income and endeavors on “The HighWire” in November. “I feel incredibly blessed by God that I had all these opportunities converging all at once,” he said.Mixed day for global stocks as market hopes for 'Santa Claus rally'
LPGA announces gender-eligibilty policy updateCHATSWORTH, Calif., Nov. 22, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced the final opportunity to own a new home at Verona Estates , an exclusive gated community in Chatsworth, California. Only a few homes remain available for sale in this prestigious community, including the professionally decorated Siena Modern Farmhouse model home. The intimate gated enclave of Verona Estates is a rare find showcasing award-winning architecture and innovative home designs. Nestled in an established Chatsworth neighborhood south of the Santa Susana Mountains and adjacent to the Vineyards at Porter Ranch, this exceptional community offers a serene and relaxed atmosphere with the convenience of nearby shopping and easy access to freeways, entertainment, and recreation. Toll Brothers residents in Verona Estates will enjoy distinctive architecture, quality craftsmanship, luxurious home designs with open floor plans, expansive home sites, and proximity to the future 50-acre Porter Ranch community park. Verona Estates offers generous two-story home designs ranging from 4,700 to 6,000+ square feet, with 5 to 6 bedrooms, 4.5 to 6.5 bathrooms, and 3-car garages. The homes also feature popular floor plan options including prep kitchens, guest suites, floating staircases, indoor and outdoor fireplaces, and more. Move-in ready homes in the community are priced from $1,979,995. “We are thrilled to offer the final opportunity to own a home in the exclusive Verona Estates community,” said Nick Norvilas, Division President of Toll Brothers in Los Angeles. “The Siena model home is a showcase of luxury and design, and we encourage interested home buyers to visit and experience this exceptional home along with the final few quick move-in homes remaining in the community firsthand.” The Siena Modern Farmhouse model home features designer upgrades throughout, including fully landscaped and furnished interiors, offering an unparalleled living experience. The professionally decorated model home is priced at $2,999,995. For more information, call 844-700-8655 or visit TollBrothers.com/LA . The Sales Center for Verona Estates is located at 20508 Edgewood Court in Chatsworth and is open by appointment only. About Toll Brothers Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired CompaniesTM list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com . From Fortune, ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Contact: Andrea Meck | Toll Brothers, Director, Public Relations & Social Media | 215-938-8169 | ameck@tollbrothers.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbb8cf4a-a018-4df0-955e-3cf4ab63edeb Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)
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