lol646 redeem code today
Forte scores 21, South Dakota beats Western Illinois 89-66
Reports: Saints concerned over QB Derek Carr's hand injuryThe Latest: UnitedHealthcare shooting suspect contests his extradition back to New York
NoneMichigan Democrats look toward a future that some hope includes Pete Buttigieg
For Iowa, it's a chance to tune up going into the bulk of its Big Ten Conference schedule. For New Hampshire, it's an opportunity to collect a nice paycheck and perhaps even pull off a memorable upset. The Hawkeyes and Wildcats will finish their nonconference schedules Monday night when they meet in Iowa City. Iowa (9-3) last played on Dec. 21, erasing an 11-point second-half deficit to outgun Utah 95-88 in Sioux Falls, S.D. Payton Sandfort scored a season-high 24 points and added eight rebounds for the Hawkeyes, while Owen Freeman added 16 despite running into foul trouble. Hawkeyes coach Fran McCaffery praised fifth-year senior Drew Thelwell, Iowa's sixth-leading scorer, who matched his season high with 15 points. "The energy in the building was phenomenal. Drew was right in the middle of that," McCaffery said. "His defense and drawing six fouls, those are stats that are critical to a team's ability to win. Get to the bonus, get to the double bonus. We do that by driving the ball and drawing fouls and that's what we did." Freeman is averaging a team-high 17.1 points and shooting 66.1 percent from the field, while Sandfort adds 16.7 ppg. Iowa has its usual high-powered attack, ranking seventh in Division I in scoring at 87.8 ppg and canning 50.2 percent from the field. The Hawkeyes could add more gaudy offensive numbers against New Hampshire (2-12), which has lost six straight games, including a 90-83 decision on Dec. 22 at Stonehill. The Wildcats have experienced trouble defensively, allowing opponents to sink 45.2 percent of their field goal attempts and score 76.5 ppg. Coming off a successful 2023-24 campaign that saw the Wildcats go 16-15 and win a game in the America East Conference tournament, New Hampshire returned just three players and had to replace AEC Player of the Year Clarence Daniels and his 19.4 ppg. It hasn't gone to the plan of second-year coach Nathan Davis, but he's still hopeful his team can figure things out in conference play. "We've improved across the board as far as our talent level," he said this summer. "I like our pieces." This is the first meeting between the Wildcats and Hawkeyes. --Field Level Media
TOWSON, Md. — The clean-cut streets outside Baltimore where Luigi Mangione grew up are a picture of suburban idyll: Tidy lawns, flowering bushes, stately Colonials and Capes in muted colors. Mangione enjoyed all the trappings of that privilege. He went to the high-end Gilman private school where he became valedictorian, got into an Ivy League School and earned a master’s in computer science. He had every opportunity to make a difference. But that stereotype was shattered with the caught-on video cold-blooded killing of UnitedHealthcare CEO Brian Thompson . And since Mangione’s arrest last week, a critical question has gone unanswered: Why would someone with so much privilege and promise allegedly turn to cold-blooded murder to make his point? Dr. Naftali Berrill, a forensic psychologist, said it’s not as uncommon as people might think for someone with Mangione’s history and resources to commit acts of violence. “It’s that privilege that leads to a grandiose sense of self , a sense that they’re entitled to pursue a certain course of action. ‘I’m a hero. I’m so brazen, that I think I can shoot someone in broad daylight,” Dr. Berrill said. Mangione, who grew up seemingly with everything, might have felt he had a “unique perspective,” and an ability to “outfox law enforcement” with his Ivy League education, Dr. Berrill speculated. “There’s a grand delusion that to do this is OK because they’re serving a greater good . And that he’s so special that he’s so special that he wouldn’t get caught,” he added. Five days after the Dec. 4 killing outside the Hilton hotel in Midtown, where Thompson was scheduled to speak, Mangione was spotted in a McDonald’s in Altoona, Pennsylvania. He is now in a Pennsylvania prison as he awaits extradition to NYC, where he will be tried on a charge of second-degree murder . 'Bright and kind soul' Mangione’s paternal grandfather, Nicholas Mangione, built the family’s wealth as a real-estate developer after being born into poverty, the son of an Italian immigrant in Baltimore’s Little Italy, according to a 1995 profile in The Baltimore Sun . One of 37 cousins , Mangione grew up in a modest Colonial home on the corner of Buckley Court near Chatterleigh Circle, a sleepy cul-de-sac in Towson where neighbors were stunned to hear the news. “I couldn’t believe it,” one neighbor said. “I’m shocked.” “I knew his parents. The parents were very nice people. They were pretty much to themselves. But very nice people,” he said. “They didn’t really socialize with the community to my knowledge. ...They were well-off. You’d never know, they were down-to-earth people.” His cousin, Nino Mangione , a GOP lawmaker who represents a suburban Baltimore district in the state’s House of Delegates, posted a statement from the family expressing their shock over the brutal slaying. “Our family is shocked and devastated by Luigi’s arrest,” Nino Mangione posted on Facebook. “We offer our prayers to the family of Brian Thompson and we ask people to pray for all involved.” A similar theme was picked up by many of his friends. A high school friend, who wished to remain anonymous, told the Daily News he is “truly saddened and speechless” at the allegations, saying they don’t align with the Mangione he knew. “Luigi Mangione was, is, and will continue to be loved by his friends, family, and everyone he came into contact with,” the friend said in a statement. “He is a bright and kind soul, motivated by a deep care for the world and improving it for everyone around him. He is a creator and scholar. I truly hope he will have a chance to speak for himself at the appropriate time because I have full confidence that his words are worth listening to.” Other high school pals described him to the New York Times as intelligent and driven, “a big believer in the power of technology to change the world,” according to one of those friends, Aaron Cranston. He graduated as valedictorian of the private all-boys Gilman School where he played soccer and ran track. He went to the University of Pennsylvania , earned a master’s degree in computer science, and co-founded a video game development lab at the Ivy League school. According to a LinkedIn profile, after his internship, Mangione was a teaching assistant at the University of Pennsylvania in data structures and algorithms and also worked as a teaching assistant at Stanford University for a summer program in AI. Since graduation, Mangione had been working as a data engineer for TrueCar , a California-based online car marketplace, according to the LinkedIn profile. Dr Louis Schlesinger, a professor of psychology at John Jay College of Criminal Justice said, the narrative has come to revolve around Mangione, instead of his victim, partly because of his background. “The offender intrigues everybody because it’s the opposite of what you expect,” Schlesinger said. “He’s obviously intelligent, went to U Penn, his family is super wealthy, and it just doesn’t compute with average people. “It’s not that we’re surprised. We’re intrigued because it flies in the face of what we think and what we hear.” Health care anger Cops are looking into an emergency room visit by Mangione, who suffered a back injury on July 4, 2023. The visit is being investigated in connection with the alleged killer’s apparent animosity towards the health care industry. Investigators are monitoring his Facebook account, which was said to have highlighted the difficulties he went through as a result of the injury. Michael TenEyck, an assistant professor of criminology at the University of Texas at Arlington said that while Magione had a lot going for him — attractiveness, a charming personality, wealth — that all may have been canceled out by his physical pain. “If you wake up every day with back pain, it may not matter. Just mere discomfort every day might push someone over that edge,” TenEyck said. R.J. Martin, who founded a co-living space called Surfbreak in Honolulu, where Mangione lived for six months, said Mangione told him he was suffering from a spinal misalignment, the Times reported. A photo posted on X believed to belong to Mangione shows an x-ray of a spine with screws in it, and his Goodreads.com account included reviews of several books about back pain. “He knew that dating and being physically intimate with his back condition wasn’t possible,” Martin told the Times. “I remember him telling me that, and my heart just breaks.” At some point, Mangione became focused on the ills of the health care industry — a theme that has resonated with many following the saga across the nation. Mangione’s now-taken-down Goodreads.com account offered a glimpse at the books he was reading and contemplating over the last year. Included in an online list of books he read this year is Unabomber Theodore Kaczynski’s “Industrial Society and its Future,” which Mangione rated four out of five stars. “He was a violent individual — rightfully imprisoned — who maimed innocent people. While these actions tend to be characterized as those of a crazy luddite, however, they are more accurately seen as those of an extreme political revolutionary,” his review said. “When all other forms of communication fail, violence is necessary to survive,” the post went on to say. “It’s not terrorism, it’s war and revolution.” Mangione had a 260-word manifesto on him when he was arrested, which gave an apparent confession to the execution, police sources said. The note made clear he acted alone— and that while what he did “had to be done,” he’s sorry for the harm it caused. “Frankly, these parasites had it coming,” police sources said he wrote. Mangione also noted that people in the United States pay more in health care expenses than those in any other country but Americans’ life expectancy is ranked at No. 42 worldwide. Dr. Berrill said his manifesto only furthers his point that Mangione may have had an inflated ego due to his background. “I’m unique. I’m special. I’m entitled. It speaks to that grandiosity,” Dr. Berrill said. Cops found the words “Deny,” “Delay,” and “Depose” written on the bullets — a supposed insurance industry mantra for delaying claims and maximizing profits — leading police to believe that the killer was, in fact, motivated by a beef with the insurance industry. “The castings on the shell — that shows he put thought into it. It wasn’t a crime of passion ,” said TenEyck. Mental health concerns Another key question, experts say, is whether Mangione was suffering from some sort of mental illness. There were several signs of potential instability in the months leading up the shooting. Around six months ago, Mangione cut off contact with his friends and family, according to the Times. Mangione’s last known address is Honolulu, and also had connections to San Francisco, police said. In January Mangione pleaded no contest to trespassing at Nu’uanu Pali Lookout, a public park in Kaneohe, Hawaii, and paid a $100 fine. “He seems to be a very smart individual,” forensic psychologist, Dr. Alexis Reyes said, noting Mangione’s academic achievement, privilege, seemingly close family ties, and ability to remain employed.“ For the most part up until at least a few months ago,” she said. “That’s what we really want to pay attention to from a mental health aspect.” “His mother had filed a missing person report six months ago. We start to feel this normally social individual become very isolated,” Reyes continued. Schlesinger said there aren’t any clear answers about potential mental illness quite yet. Nothing has been raised in court. “It’s more speculation based on no facts. We’re just going to have to wait, and even then, there are different degrees of mental illness . It’s way more complicated than what we can put in a sound bite,” he said. Mangione lashed out as he arrived at court for a hearing on Tuesday about an “insult to the intelligence of the American people.” Appearing clad in an orange jumpsuit, media crews captured Mangioni appearing to be upset, struggling with court security officers and yelling to members of the press in mostly inaudible statements, describing something as “completely out of touch” as officers slammed him up against a wall. Manhattan psychiatrist, Dr. Gail Saltz, said Mangione’s arrest has garnered harsh reactions across the board. “Many of us think that if we had what he has and where he came from, that we would protect all that, and not risk it, not do something like this,” Dr. Saltz said. “It’s sort of a perfect storm here. It’s not just those things,” she said of Mangione’s apparent advantages in life. “It’s somebody planning and carrying out a murder in New York City in broad daylight of a CEO of a major company. It’s the audacity of the crime and who was killed.” “It challenges our ideology as a society,” Dr. Reyes added. “The reality is we are all humans. Just because he is a privileged individual who is better equipped doesn’t necessarily mean that is enough to prevent him or anyone from a similar background from acting in a similar way,” Reyes said. ©2024 New York Daily News. Visit nydailynews.com . Distributed by Tribune Content Agency, LLC.Irish Government doubted UK campaign to ‘save David’ Trimble
Generative artificial intelligence (AI) has charmed the world. Its ability to digest and produce content such as text, images and videos presents opportunities for any industry that needs to communicate – from medicine, law and finance to the creative arts, architecture and biochemical sciences. One key feature of general purpose technology is that it attracts investment. According to Stanford University’s 2024 AI Index Report, private investment in generative AI last year was nearly nine times that in 2022, and 30 times that in 2019. 08:15 How a Hong Kong school embraces ChatGPT in the classroomRICHMOND — Gov. Glenn Youngkin on Tuesday announced that he is asking the legislature for an additional $290 million to support school construction and modernization efforts across Virginia. This latest investment would bring the total funding for the current biennium to $700 million and raise the state’s overall contribution under Youngkin’s administration to nearly $2 billion. Youngkin’s funding request is included in his proposed budget amendments, which he plans to present next week at a joint meeting of the General Assembly’s money committees. According to the governor’s office, the state’s financial commitments have spurred an estimated $3.4 billion in total funding for school construction. The additional support would be made possible through a combination of local government contributions and federal matching funds. “Over the last three years, we have invested historic amounts in our education system, including our public school facilities,” Youngkin said in a statement. “Our record economic growth and the resulting surplus allows us to make this critical investment to ensure every Virginia student has access to high-quality school facilities that support academic success.” Youngkin plans to use the newly announced $290 million in non-general funds to expand competitive grant opportunities for school divisions, particularly in high-need areas. The money would also address critical infrastructure issues, supporting the construction and renovation of schools in urgent need of repair. State officials say the increased funding will provide K-12 students with safer, more conducive learning spaces, a move that has been welcomed by educators and community leaders alike. Local school divisions will be able to apply for grant support to fast-track modernization projects that may have been delayed due to funding shortfalls. The Youngkin administration has framed the initiative as part of a broader effort to support Virginia’s educational system and improve outcomes for students. As schools across the state face aging infrastructure and capacity challenges, this investment aims to reduce disparities in facility quality, especially in underserved areas. “One of our guiding principles since day one of the Youngkin Administration has been to provide safe, vibrant, and healthy learning environments for all of our students,” said Secretary of Education Aimee Guidera. “This investment in supporting new and refurbished school buildings makes it possible for every community in the commonwealth to have the means to provide a best-in-class education that prepares every student for success in our increasingly demanding knowledge- and skills-based economy.” Del. Candi Mundon King, D-Prince William, a member of the Commission on School Construction and Modernization, said that while she welcomed Youngkin’s proposal, she needed more information. “We have been screaming from the rooftops about more money for school construction and ensuring that localities have what they need, so I’m glad to see that he’s trying to get on board,” Mundon King said. “It is clear that we need to put more money into school construction, but I can’t say more without seeing a fully fleshed out plan. So I’m looking forward to his presentation next week with the joint money committees so we can fully evaluate what this proposal actually is, and not just some slick press release that doesn’t go into detail.” In 2022, Youngkin’s first year in office, the General Assembly in a bipartisan effort approved a historic $1.2 billion investment in school construction, aiming to modernize aging facilities and reduce funding disparities among school divisions. The sweeping plan combined grants and loans to support renovations, new construction, and capacity expansion for K-12 schools across the commonwealth. Of the $1.2 billion, about $850 million was allocated for grants. This included $400 million in formula-based grants, which provided each of Virginia’s 134 school divisions with a $1 million base allocation. The remaining $266 million was distributed based on the Local Composite Index (LCI) — a state funding formula that considers factors like property values, taxable sales and population data to assess a locality’s financial ability to support its schools. Another $450 million was funneled into the newly created School Construction Fund and Program, a competitive grant program designed to assist divisions with the most critical infrastructure needs. School systems with poor building conditions and limited financial capacity could apply for these funds to support construction, renovation, or expansion projects. This program is primarily funded by 98% of gaming revenue from Virginia’s four new casinos in Bristol, Danville, Portsmouth, and Norfolk. The fund is administered by the Virginia Board of Education. Virginia faces a mounting crisis with school infrastructure. Data released by the Virginia Department of Education in 2022 revealed that nearly 1,000 school buildings across the state are at least 50 years old. Replacing these facilities would cost more than $25 billion — a figure far beyond the capacity of most localities. Traditionally, local governments have shouldered the financial burden of school construction, relying on local tax revenue. But for economically distressed areas, particularly in Southwest Virginia and Southside, this has become an increasingly difficult challenge due to population decline and economic hardship. But in April, Youngkin vetoed a bill lawmakers sent to his desk that would have allowed localities to implement a 1% sales tax to help cover the costs of school construction and modernization. The proposal required voter approval through a referendum before the tax could be enacted by local governments. Youngkin acknowledged that school construction is a “worthy cause” but argued that Virginia has already taken substantial steps to address those costs. He contended that citizens should not face additional taxes, particularly the $1.5 billion annually that would have been raised by the 1% sales tax. “The commonwealth should pursue a tax policy that unleashes economic development and prioritizes job and wage growth through innovative reforms,” Youngkin said in his veto. “These reforms must allow hardworking Virginians to keep more of their money, not less; any proposal that increases the cost of living and the cost of business is not a policy we should pursue.” Prior to 2022, state assistance for school construction was limited, with much of it coming from the Literary Fund, a state-managed pool of money established in Virginia’s Constitution. Funded by sources such as unclaimed lottery winnings, criminal fines, and unclaimed property, the Literary Fund historically provided low-interest loans to support school construction and debt service for technology. However, in recent years, much of the fund’s revenue was redirected to cover teacher retirement costs, leaving fewer resources for school building projects. The 2022 legislative session retooled the Literary Fund’s loan program, significantly increasing its impact. Lawmakers raised the maximum loan amount from $7.5 million to $25 million and capped the interest rate at 2%. These changes made it more feasible for school divisions to finance major construction projects at a lower cost. With the state’s total contribution now approaching $2 billion, education advocates are hopeful the increased funding will lead to long-term improvements in school facilities and better learning conditions for students throughout the commonwealth. Virginia Board of Education President Grace Creasey said Tuesday that the panel will prioritize “those school divisions in greatest need that have missed out on prior grant opportunities,” especially rural divisions. “We also know that school divisions are eager to adopt seat time flexibility and competency-based models which requires us to design learning environments and spaces differently. This new investment will make this possible,” Creasey said.
Jimmy Carter had the longest post-presidency of anyone to hold the office, and one of the most active. Here is a look back at his life. 1924 — Jimmy Carter was born on Oct. 1 to Earl and Lillian Carter in the small town of Plains, Georgia. 1928 — Earl Carter bought a 350-acre farm 3 miles from Plains in the tiny community of Archery. The Carter family lived in a house on the farm without running water or electricity. 1941 — He graduated from Plains High School and enrolled at Georgia Southwestern College in Americus. 1942 — He transferred to Georgia Institute of Technology in Atlanta. 1943 — Carter’s boyhood dream of being in the Navy becomes a reality as he is appointed to the U.S. Naval Academy in Annapolis, Maryland. 1946 — He received his naval commission and on July 7 married Rosalynn Smith of Plains. They moved to Norfolk, Virginia. 1946-1952 — Carter’s three sons are born, Jack in 1947, Chip in 1950 and Jeff in 1952. 1962-66 — Carter is elected to the Georgia State Senate and serves two terms. 1953 — Carter’s father died and he cut his naval career short to save the family farm. Due to a limited income, Jimmy, Rosalynn and their three sons moved into Public Housing Apartment 9A in Plains. 1966 — He ran for governor, but lost. 1967 — Jimmy and Rosalynn Carter’s fourth child, Amy, is born. 1971 — He ran for governor again and won the election, becoming Georgia’s 76th governor on Jan. 12. 1974 — Carter announced his candidacy for president. 1976 — Carter was elected 39th president on Nov. 2, narrowly defeating incumbent Gerald Ford. Democratic presidential candidate Jimmy Carter embraces his wife Rosalynn after receiving the final news of his victory in the national general election, November 2, 1976. (Photo by Hulton Archive/Getty Images) New-elected President Jimmy Carter gives a press conference after being elected 39th President of the United States, on November 05, 1976 in Plains, Georgia. (Photo by GENE FORTE / CONSOLIDATED NEWS PICTURES / AFP) (Photo by GENE FORTE/CONSOLIDATED NEWS PICTURES/AFP via Getty Images) Supporters of Democratic presidential candidate Jimmy Carter hold up signs during a rally on may 15, 1976 in New York. – Carter was elected on December 21, 1976 39th President of the United States, 51% voice against 48% for incumbent Republican president Gerald Ford. (Photo by CONSOLIDATED NEWS / AFP) (Photo by -/CONSOLIDATED NEWS/AFP via Getty Images) Chief Justice Warren Burger administers the oath of office to Jimmy Carter (R), flanked by his wife Rosalynn, as the 39th President of the United Sates on January 20, 1977. (Photo by CONSOLIDATED NEWS / AFP) (Photo by -/CONSOLIDATED NEWS/AFP via Getty Images) Democratic presidential candidate Jimmy Carter embraces his wife Rosalynn after receiving the final news of his victory in the national general election, November 2, 1976. (Photo by Hulton Archive/Getty Images) 1978 — U.S. and the Peoples’ Republic of China establish full diplomatic relations. President Carter negotiates and mediates an accord between Egypt and Israel at Camp David. 1979 — The Department of Education is formed. Iranian radicals overrun the U.S. Embassy and seize American hostages. The Strategic Arms Limitations Treaty is signed. 1980 — On March 21, Carter announces that the U.S. will boycott the Olympic Games scheduled in Moscow. A rescue attempt to get American hostages out of Iran is unsuccessful. Carter was defeated in his bid for a second term as president by Ronald Reagan in November. 1981 — President Carter continues to negotiate the release of the American hostages in Iran. Minutes before his term as president is over, the hostages are released. 1982 — Carter became a distinguished professor at Emory University in Atlanta, and founded The Carter Center. The nonpartisan and nonprofit center addresses national and international issues of public policy. 1984 — Jimmy and Rosalynn Carter volunteer one week a year for Habitat for Humanity, a nonprofit organization that helps needy people in the United States and in other countries renovate and build homes, until 2020. He also taught Sunday school in the Maranatha Baptist Church of Plains from the mid-’80s until 2020. 2002 — Awarded the Nobel Peace Prize. 2015 — Carter announced in August he had been diagnosed with melanoma that spread to his brain. 2016 — He said in March that he no longer needed cancer treatment. 2024 — Carter dies at 100 years old. Sources: Cartercenter.org, Plains Historical Preservation Trust, The Associated Press; The Brookings Institution; U.S. Navy; WhiteHouse.gov, Gallup
Picture this: You are the groom, minutes away from your Haldi ceremony, and disaster strikes – you’ve forgotten your yellow kurta. Panic sets in, but then a solution emerges: Quick Commerce. This isn’t a hypothetical scenario. Just a few weeks ago, a groom in Bengaluru faced this situation. Thanks to lightning-fast delivery in under 10 minutes, his day was saved. The retail landscape in India is being reshaped by Quick Commerce (Q-Com). Changing consumer expectations, technological advancements, and a growing digitally empowered population are making quick commerce increasingly convenient. Products ranging from groceries to household essentials, electronics to clothing, are now delivered within 10-30 minutes, with even faster deliveries expected in the future. Revolutionising retail or Threatening Kirana tradition? Quick commerce is impacting traditional Kirana stores. The All India Consumer Products Distributors Federation reports that around 200,000 Kirana stores have shut down due to competition from quick commerce platforms, with metro cities seeing the most closures. Kirana stores are struggling to maintain their customer base and profitability amid deep discounts and aggressive pricing by quick commerce companies. A report by Chryseum showed sales growth of over 280% in two years, with Gross Merchandise Value (GMV) rising from US$500 million in FY22 to US$3.3 billion in FY24, representing a 73% annual growth rate. Projections suggest the market could reach US$9.95 billion by 2029. The rise of smartphones, internet penetration, and personalised in-app experiences blend well with the demand for instant gratification, fueling this growth. However, this wave didn’t happen overnight. The COVID-19 pandemic accelerated the adoption of online shopping, and quick commerce became the go-to solution for safe, rapid deliveries. Average order values have risen from Rs. 250 to Rs. 500, indicating that consumers are willing to pay more for convenience. Also, the entry of major players like Amazon into the quick commerce space depicts the potential of the industry and its appeal to investors. Major players of the Indian Q-Com Pie The quick commerce market in India is dynamic and highly competitive, with major players vying for market share. According to India Briefings reports, in Q2 of 2024-25, Zomato Blinkit leads the sector with a 46% share, followed by Zepto at 29% and Swiggy Instamart at 25%. Blinkit’s GMV in Q2 2024-25 exceeded Rs. 6,000 crores, with a 5% quarterly growth, while Swiggy Instamart saw a 425% increase in a single quarter. These companies are employing aggressive marketing, expanding product categories, optimising existing delivery infrastructure, and streamlining dark stores to capture more market share. This competition extends beyond the aforementioned players. Even traditional e-commerce giants like Flipkart and Amazon are entering the quick commerce space. Flipkart has launched its ‘Minutes’ service, testing 15-minute deliveries in Bengaluru, while Amazon is also experimenting with a 15-minute delivery model. Specialised e-tailers like Nykaa and Myntra, which have operated solely in the e-commerce segment, are now venturing into quick commerce services, increasing competition. Myntra, for example, plans to scale its micro-hub inventory from 10,000 to nearly 100,000 styles sourced from offline stores. Reshaping real estate with dark stores Dark stores, which serve online orders only, are essential to quick commerce. These stores, hidden from the public, are strategically located to enable rapid deliveries. Swiggy Instamart, Blinkit, and Zepto operate around 1,200 dark stores in key Indian cities. Rental prices for these stores range from Rs. 40 to Rs. 250 per square foot, depending on location. Quick commerce companies must optimise logistics to ensure fast, efficient delivery. Challenges and opportunities in the quick commerce landscape Despite its rapid growth, quick commerce faces several challenges. For instance, the cost of operations is high due to delivery expenses and dark store maintenance. However, businesses are overcoming these challenges by adjusting price dynamics, increasing order values, and diversifying product offerings, such as expanding into electronics and cosmetics. Competition is fierce, with companies needing to differentiate themselves through innovative products and superior service. However, the future looks bright for quick commerce in India. The market is projected to grow sixfold between FY24 and FY27, reaching $27 billion. Currently, quick commerce represents just 3% of the grocery market and only 1% of the overall retail market, indicating vast growth potential. There’s also an emerging opportunity to cater to India’s growing affluent consumer segment, as demonstrated by premium quick commerce platforms like FirstClub, which targets the top 10% of the population. Impact on consumer behaviour and the retail industry The rapid growth of quick commerce is driven by the increasing demand from a burgeoning urban population and shifting consumer preferences. Consumers are increasingly opting for faster and more convenient delivery options. This shift is influencing buying behaviours across different e-commerce segments. To compete, many Kirana stores have partnered with new-age companies or adopted their tactics. Quick commerce also benefits the gig economy, providing flexible employment opportunities through an extensive network of delivery partners. However, success in quick commerce relies not only on speed and convenience but also on data and analytics. Companies leverage big data on customer demographics, purchase patterns, and delivery times to optimize delivery networks, personalise recommendations, predict demand fluctuations, and fine-tune pricing. This data-driven approach helps companies stay ahead in the competitive landscape and continually improve customer experiences. The growth of quick commerce in India has been phenomenal, and despite the challenges, the sector is poised to become an integral part of the country’s retail ecosystem. As key players innovate and harness data-driven insights, quick commerce is set to reshape consumer shopping habits and brand engagement in the future.
Joe Burrow's home broken into during Monday Night Football in latest pro-athlete home invasionIn 2018, Apple famously became the first publicly traded company in the U.S. to hit a $1 trillion valuation. Since then, several more have hit that milestone, including several of Apple's peers in the tech industry: Microsoft , Alphabet , Amazon , Nvidia , and Meta Platforms . This group remains highly exclusive, but many more corporations will join in the coming years. One of them could be Shopify ( SHOP 0.45% ) , an e-commerce specialist currently sporting a market cap of $135 billion. Shopify needs a compound annual growth rate (CAGR) of at least 14.3% in the next 15 years to become a trillion-dollar stock. That's not an easy task, but let's find out why Shopify can pull it off. A founder-led company with a vision Shopify was created to address a real pain point for businesses trying to open online storefronts, which sometimes had to deal with design challenges, lack of flexibility, and other issues. Shopify changed that. The e-commerce specialist offers practically everything merchants need all in one spot, from hundreds of customizable templates and payment processing to inventory, social media tools, marketing, and more. Further, there is a built-in system that gives merchants many more options. Shopify's app store is home to thousands of apps that cater to its customers' ultra-specific needs. Since its 2015 IPO and with co-founder Tobias Lütke at the helm, Shopify has grown at a CAGR well above what it would need in the next 15 years to become a trillion-dollar stock. SHOP Total Return Level data by YCharts . There is some evidence in the academic literature that founder-led companies in the S&P 500 outperform the rest. It's hard to argue that point when looking at the list of trillion-dollar companies. Nvidia and Meta Platforms are still headed by their co-founders. Amazon was also founder-led until relatively recently, and Microsoft and Apple did have long stints with their respective founders (or co-founders) as CEOs before they stepped down. Shopify following the same blueprint is no guarantee of success, but it's worth pointing out that the e-commerce specialist has made it its goal to become a 100-year company. Few can come anywhere close to that, but Shopify is off to a pretty good start. Massive white space ahead One issue Shopify had was a lack of profitability. The company recently made some changes to its business that are helping on that front. Shopify sold its logistics business, a low-margin unit that was harming its bottom line. Since then, the company's margins and profits have looked much better. In the third quarter, Shopify's revenue grew by 26% year over year to $2.2 billion. Shopify's net income was up 15% year over year to $828 million. It had a 19% free cash flow margin, up from the 16% reported in the prior-year quarter. Shopify has increased its free cash flow margin sequentially during every quarter this year. No wonder the stock is up substantially year to date. More importantly, Shopify is still looking at a vast runway ahead. The growth of the e-commerce industry should provide the company with a powerful tailwind in the next decade and beyond. It allows people to do business with consumers or companies that would otherwise be beyond their reach. It also helps businesses save money on overhead costs, savings they can pass on to consumers. And despite its seeming ubiquity, e-commerce still has miles of growth left. Online transactions accounted for just 16.2% of total retail sales in the third quarter in the U.S. Further, Shopify benefits from a competitive advantage. Its app store has a network effect : The more developers within its ecosystem, the more it attracts merchants, and vice versa. The company's main e-commerce offering benefits from switching costs . So, Shopify has many of the traits necessary to deliver market-beating returns over the long run: profitable growth, a long-term vision, plenty of opportunities, and a moat that will protect its leadership position in its niche. The company looks well on its way to becoming a trillion-dollar stock within 15 years.
New technology aids Brazil’s crackdown on illicit Amazon gold trade BRASILIA: Harley Sandoval, an evangelical pastor, real estate agent and mining entrepreneur, was arrested in July 2023 for illegally exporting 294 kilos of gold from Brazil’s Amazon to the US, Dubai and Italy. On paper, the gold was sourced from a legal prospect Sandoval was licensed to mine in the northern state of Tocantins. But police said not an ounce of gold had been mined there since colonial times. Using cutting-edge forensic technology, along with satellite imagery, Brazil’s Federal Police said it was able to establish that the exported gold did not come from the Tocantins prospect. Instead, it had been dug up from three different wildcat mines in neighbouring Para, some on protected Indigenous reservation lands, according to previously unreported court documents dated November 2023 seen by Reuters. The prosecution is one of the first in Brazil using the new technology to tackle clandestine trading that may account for as much as half of the gold output of Brazil, a major producer and exporter of the precious metal. Illegal gold mining has surged at thousands of sites in the Amazon rainforest, bringing environmental destruction and criminal violence to the region. Seizures of illegally mined gold have surged seven-fold in the past seven years, according to Federal Police records obtained exclusively by Reuters. Sandoval, who has been released pending trial and continues to preach with his wife at a Pentecostal Evangelical church in the central Brazilian city of Goiania, denies the allegations. He maintains there is no way to establish where the gold was mined once it is melted down into ingots for export. “That’s impossible. To export gold one always has to melt it down,” he told Reuters by telephone. THE DNA OF GOLD Historically, gold is notoriously difficult to trace, especially once metal from different sources has been melted together, erasing the original signatures. After that, it can easily be traded as a financial asset or be used in the jewellery industry. But investigators say that’s starting to change. A police programme called ‘Targeting Gold’ is creating a database of samples from across Brazil that are examined with radio-isotope scans and fluorescence spectroscopy to determine the unique composition of elements. The technique, long used in archaeology, was pioneered in mining by University of Pretoria geologist Roger Dixon to help distinguish between legal and stolen gold. The programme developed in partnership with university researchers includes the use of powerful light beams from a particle accelerator at a Sao Paulo lab to study nano-sized impurities associated with gold, be it dirt or other metals like lead or copper, that help trace its origins. Humberto Freire, director of the Federal Police’s recently created Environment and Amazon Department, said the technology allows scientists to analyse “the DNA of Brazilian gold”. “Nature has marked the gold with isotopes and we can read these unique fingerprints with radio-isotope scans,” Freire said. “With this tool we can trace illegal gold before it gets refined for export.” The programme has helped fuel an increase in gold seizures since leftist President Luiz Inacio Lula da Silva took office last year -- up 38 per cent in 2023 from 2022, according to government numbers seen by Reuters. New Brazil central bank gold market regulations, including mandatory electronic tax receipts for all trades and tightened monitoring of suspect transactions, have also helped, according to Freire. “We estimate that around 40 per cent of the gold that is extracted in the Amazon is illegal,” he told Reuters. Brazil exported 110 tonnes of gold in 2020 worth $5 billion, according to official data, ranking among the world’s top 20 exporters. Last year, exports were 77.7 tonnes, a drop the government attributes to improved enforcement of illegal mining. INDIGENOUS TENSIONS Lula’s predecessor, far-right President Jair Bolsonaro weakened environmental controls in the Amazon. That triggered a new gold rush in Brazil, spurred by record world gold prices that were driven up by geopolitical tensions and central bank purchases, led by China. Prices have continued to new highs, trading at around $2,650 per ounce on Friday. Gold rushes have been a hallmark of mineral-rich Brazil from its Portuguese colonial past. But the latest surge in wildcat mining beginning during Bolsonaro’s administration has been unprecedented. Satellite images show there are some 80,000 such prospects today in the Amazon rainforest, more than ever registered before. Once dominated by prospectors with gold pans, artisanal mining in Brazil has become an industrial-scale activity with heavy excavating machinery and million-dollar river dredgers. Criminal organizations fly people, equipment and gold into and out of the region with helicopters and planes that land at clandestine airstrips. Their excavations often leave behind gaping ponds of sludge contaminated with mercury, used to separate the gold from dirt and other minerals. Last year, thousands of miners who invaded the Yanomami territory, the country’s largest Indigenous reservation on the northern border with Venezuela, brought violence and disease that caused malnutrition and a humanitarian crisis among the tribe, prompting Lula to send in troops. But many returned this year after the military pulled out. Lula, who has pledged to stamp out illegal gold mining, tried to fight back by deploying special forces of the environmental protection agency Ibama into Indigenous reservations and forest conservation parks. Police say cracking down on the organized crime gangs that back the wildcat miners is the next step in staunching an illegal trade that feeds the jewellery and watch industry in Switzerland, which buys 70 per cent of Brazil’s exported gold, according to government trade data. Amazon neighbours, including Colombia and French Guiana, are considering adopting the Brazilian gold analysis method to deal with their illegal gold trade and European governments have shown interest, including Switzerland and Britain, the top importers from Brazil after Canada, police and diplomats said. Brazil accounts for just 1.0 per cent of gold imported by Switzerland, a global trade hub for the metal, and “measures are in place to import only legally mined gold”, a Swiss embassy statement said. The embassy said it has set up a working group with other importing countries to study traceability and anti-counterfeiting tools. A 2022 study by non-profit watchdog Instituto Escolhas found that 52 per cent of the gold exported from the Amazon was illegal, nearly all from protected Indigenous reservation lands or national conservation parks. A vibrant lobby for informal gold mining has survived Bolsonaro in Brazil’s Conservative Congress, where pending bills propose legalising wildcat mining. For now, though, gold samples from across Brazil are being added to a database with the help of scientists at the Federal Police’s criminology institute lab in Brasilia, where forensic expert Erich Moreira Lima oversees microscopic scanning of gold nuggets that are kept in a safe.
Irish Government doubted UK campaign to ‘save David’ Trimble