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Suchir Balaji, a former OpenAI engineer and whistleblower who helped train the artificial intelligence systems behind ChatGPT and later said he believed those practices violated copyright law, has died, according to his parents and San Francisco officials. He was 26. Balaji worked at OpenAI for nearly four years before quitting in August. He was well-regarded by colleagues at the San Francisco company, where a co-founder this week called him one of OpenAI’s strongest contributors who was essential to developing some of its products. “We are devastated to learn of this incredibly sad news and our hearts go out to Suchir’s loved ones during this difficult time,” said a statement from OpenAI. Balaji was found dead in his San Francisco apartment on Nov. 26 in what police said “appeared to be a suicide. No evidence of foul play was found during the initial investigation.” The city’s chief medical examiner’s office confirmed the manner of death to be suicide. His parents Poornima Ramarao and Balaji Ramamurthy said they are still seeking answers, describing their son as a “happy, smart and brave young man” who loved to hike and recently returned from a trip with friends. Balaji grew up in the San Francisco Bay Area and first arrived at the fledgling AI research lab for a 2018 summer internship while studying computer science at the University of California, Berkeley. He returned a few years later to work at OpenAI, where one of his first projects, called WebGPT, helped pave the way for ChatGPT. “Suchir’s contributions to this project were essential, and it wouldn’t have succeeded without him,” said OpenAI co-founder John Schulman in a social media post memorializing Balaji. Schulman, who recruited Balaji to his team, said what made him such an exceptional engineer and scientist was his attention to detail and ability to notice subtle bugs or logical errors. “He had a knack for finding simple solutions and writing elegant code that worked,” Schulman wrote. “He’d think through the details of things carefully and rigorously.” Balaji later shifted to organizing the huge datasets of online writings and other media used to train GPT-4, the fourth generation of OpenAI’s flagship large language model and a basis for the company’s famous chatbot. It was that work that eventually caused Balaji to question the technology he helped build, especially after newspapers, novelists and others began suing OpenAI and other AI companies for copyright infringement. He first raised his concerns with The New York Times, which reported them in an October profile of Balaji . He later told The Associated Press he would “try to testify” in the strongest copyright infringement cases and considered a lawsuit brought by The New York Times last year to be the “most serious.” Times lawyers named him in a Nov. 18 court filing as someone who might have “unique and relevant documents” supporting allegations of OpenAI’s willful copyright infringement. His records were also sought by lawyers in a separate case brought by book authors including the comedian Sarah Silverman, according to a court filing. “It doesn’t feel right to be training on people’s data and then competing with them in the marketplace,” Balaji told the AP in late October. “I don’t think you should be able to do that. I don’t think you are able to do that legally.” He told the AP that he gradually grew more disillusioned with OpenAI, especially after the internal turmoil that led its board of directors to fire and then rehire CEO Sam Altman last year. Balaji said he was broadly concerned about how its commercial products were rolling out, including their propensity for spouting false information known as hallucinations. But of the “bag of issues” he was concerned about, he said he was focusing on copyright as the one it was “actually possible to do something about.” He acknowledged that it was an unpopular opinion within the AI research community, which is accustomed to pulling data from the internet, but said “they will have to change and it’s a matter of time.” He had not been deposed and it’s unclear to what extent his revelations will be admitted as evidence in any legal cases after his death. He also published a personal blog post with his opinions about the topic. Schulman, who resigned from OpenAI in August, said he and Balaji coincidentally left on the same day and celebrated with fellow colleagues that night with dinner and drinks at a San Francisco bar. Another of Balaji’s mentors, co-founder and chief scientist Ilya Sutskever, had left OpenAI several months earlier , which Balaji saw as another impetus to leave. Schulman said Balaji had told him earlier this year of his plans to leave OpenAI and that Balaji didn’t think that better-than-human AI known as artificial general intelligence “was right around the corner, like the rest of the company seemed to believe.” The younger engineer expressed interest in getting a doctorate and exploring “some more off-the-beaten path ideas about how to build intelligence,” Schulman said. Balaji’s family said a memorial is being planned for later this month at the India Community Center in Milpitas, California, not far from his hometown of Cupertino. —————- EDITOR’S NOTE — This story includes discussion of suicide. If you or someone you know needs help, the national suicide and crisis lifeline in the U.S. is available by calling or texting 988. —————– The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP’s text archives. More articles from the BDN
Tech Mahindra CEO Mohit Joshi aims to significantly boost the company's banking, financial services, and insurance (BFSI) business to close the gap with larger rivals who have traditionally generated more revenue from this profitable sector. Joshi, who joined India's fifth-largest software services exporter in December 2023 after a long tenure at Infosys, plans to increase BFSI's revenue contribution to 25% by March 2027, up from the current 16%. This compares to some competitors in the $254 billion Indian IT industry who already derive as much as a third of their revenue from BFSI. "We still have a lot of room to catch up," stated Joshi, whose background includes banking roles at ABN Amro and ANZ before his time at Infosys. He anticipates organic growth in Tech Mahindra's BFSI revenue share. Tech Mahindra's sector leverage has been telecom Historically, Tech Mahindra has leaned heavily on telecom clients for revenue. However, Joshi intends to leverage his expertise in financial services to shift this focus and drive the company's turnaround. "BFSI is the single largest spender from a tech services perspective. It's very important for us to play aggressively in this space. Large banks typically spend over $10 billion a year in terms of technology," Joshi explained. Tech Mahindra, which has underperformed its peers in revenue and profit, will concentrate on core banking, payments, asset and wealth management, custodian services, and insurance. Joshi has already strengthened the company's BFSI leadership team. AI is an opportunity NOT a threat for techies Regarding generative AI , Joshi believes it presents an opportunity rather than a threat. "GenAI is the best spokesperson for why we need more money to be spent on technology," he said, dismissing the idea that it signals the end for software developers. "I do feel that the overall demand for developers is not going to reduce, because there is a lot more work to be done candidly than there are people just now." He also downplayed concerns about generative AI replacing customer service roles at Tech Mahindra. "I'm very skeptical about whether we'll see a wholesale replacement of contact centers with GenAI because when it comes to critical issues, people prefer to speak with human beings."LOS ANGELES — The Dodgers’ signing of Blake Snell became official Saturday, adding the two-time Cy Young Award winner to front a starting rotation stocked with question marks. Snell, who will turn 32 next week, agreed to a five-year, $182 million contract that includes a $52 million signing bonus and $65 million in deferred salary. That deal was pending a physical which Snell passed. The 2018 American League Cy Young Award winner with the Tampa Bay Rays, Snell won the National League Cy Young in 2023 after going 14-9 with a 2.25 ERA for the San Diego Padres. He became a free agent last winter but stayed on the market well into March looking for a long-term deal that never materialized despite his Cy Young history. The Dodgers were involved with Snell at one point before he signed a two-year, $62 million contract with the San Francisco Giants that included an opt-out clause. He exercised that opt-out after going 5-3 with a 3.12 ERA in an injury-interrupted season with the Giants. He had 145 strikeouts and just 44 walks in 104 innings. But he made just 20 starts due to two trips to the injured list with a groin injury (likely related to his late signing affecting his preparation for the season). The 20 starts were his fewest in a full season since his rookie year in 2016 (19 starts). Snell goes to the front of a rotation that includes a number of players returning from injury and/or surgery. Shohei Ohtani is expected to return to pitching after undergoing his second Tommy John surgery in September 2023. But his return to the mound will be delayed by surgery on his non-throwing shoulder following the World Series. Yoshinobu Yamamoto finished the 2024 season healthy but missed three months with a rotator cuff strain. Neither he nor Ohtani will be asked to pitch on less than five days of rest and the Dodgers are planning to go with a six-man rotation in 2025. Tyler Glasnow’s 2024 season ended early with an elbow injury and his status for 2025 is uncertain. Tony Gonsolin will be returning from Tommy John surgery. Dustin May did not pitch in 2024 while recovering from his own elbow surgery and a torn esophagus. Emmet Sheehan is expected back at some point in 2025 after his Tommy John surgery. Clayton Kershaw is expected to re-sign at some point. But he underwent foot and knee surgeries in November and is not likely to be available for a full season. Walker Buehler and Jack Flaherty are free agents. The Dodgers will start the 2025 season early again with another trip to Asia. They are scheduled to open the regular season with two games against the Chicago Cubs on March 18 and 19 in Tokyo.Donald Trump said Saturday that a surprise meeting with Canadian Prime Minister Justin Trudeau in Florida was "very productive," days after the incoming US leader rattled Ottawa with a vow to impose tariffs on Canadian imports. Trudeau, on an unannounced visit, had been seen smiling Friday as he exited a hotel in West Palm Beach to head to a dinner at Trump's Mar-a-Lago estate. Afterward, Trump posted on his Truth Social website that he had had "a very productive meeting with Prime Minister Justin Trudeau." He said the two men had discussed issues including "the Fentanyl and Drug Crisis that has decimated so many lives as a result of Illegal Immigration." He added, "Prime Minister Trudeau has made a commitment to work with us to end this terrible devastation of U.S. Families." Trudeau told journalists that he had had an "excellent conversation" with Trump, but did not elaborate. Trump has blamed Canada and Mexico for not stemming an influx of undocumented migrants and he blames them, and China, for drug problems in the United States. Trudeau's trip came after Trump sent shockwaves through the region Monday when he announced 25 percent import tariffs against Canada and Mexico and 10 percent against China if they failed to address the drug and migration problems. Such tariffs could have a devastating impact if imposed. More than three-quarters of Canadian exports, or Can$592.7 billion ($423 billion), went to the United States last year, and nearly two million Canadian jobs are dependent on trade. A Canadian government source had told AFP that Canada was considering possible retaliatory tariffs against the United States. Trudeau was the first foreign leader to meet with the US president-elect. But on Wednesday, Mexican President Claudia Sheinbaum spoke to Trump by phone and later ruled out a trade war with the United States. "There will not be a potential tariff war," she told reporters Thursday. Trump later said that Sheinbaum had "agreed to stop migration through Mexico... effectively closing our Southern border." But she said that there would be no closing of the border, stating: "Of course we do not agree with that." Some have suggested Trump's tariff threat was bluster, or an opening salvo in future trade negotiations. But Trudeau rejected those views when he spoke with reporters earlier in Prince Edward Island province. "Donald Trump, when he makes statements like that, he plans on carrying them out," Trudeau said. "There's no question about it." amc/jgc/nro/bbk/bfm
US stocks climb in thin pre-Christmas trade
Shares of Canadian Imperial Bank of Commerce .css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link{-webkit-text-decoration:none;text-decoration:none;color:rgba(54,119,168,1);border-bottom:1px solid;border-bottom-color:rgba(54,119,168,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link svg{fill:rgba(54,119,168,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover{-webkit-text-decoration:none;text-decoration:none;color:rgba(47,112,157,1);border-bottom:1px solid;border-bottom-color:rgba(47,112,157,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover svg{fill:rgba(47,112,157,1);} .css-1vykwuz-OverridedLink{display:inline;color:var(--color-interactiveLink010);-webkit-text-decoration:underline;text-decoration:underline;}@media screen and (prefers-reduced-motion: no-preference){.css-1vykwuz-OverridedLink{transition-property:color,fill;transition-duration:200ms,200ms;transition-timing-function:cubic-bezier(0, 0, .5, 1),cubic-bezier(0, 0, .5, 1);}}@media screen and (prefers-reduced-motion: reduce){.css-1vykwuz-OverridedLink{transition-property:color,fill;transition-duration:0ms;transition-timing-function:cubic-bezier(0, 0, .5, 1),cubic-bezier(0, 0, .5, 1);}}.css-1vykwuz-OverridedLink svg{fill:var(--color-interactiveLink010);}.css-1vykwuz-OverridedLink:hover:not(:disabled){color:var(--color-interactiveLink020);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:hover:not(:disabled) svg{fill:var(--color-interactiveLink020);}.css-1vykwuz-OverridedLink:active:not(:disabled){color:var(--color-interactiveLink030);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:active:not(:disabled) svg{fill:var(--color-interactiveLink030);}.css-1vykwuz-OverridedLink:visited:not(:disabled){color:var(--color-interactiveVisited010);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:visited:not(:disabled) svg{fill:var(--color-interactiveVisited010);}.css-1vykwuz-OverridedLink:visited:hover:not(:disabled){color:var(--color-interactiveVisited010);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:visited:hover:not(:disabled) svg{fill:var(--color-interactiveVisited010);}.css-1vykwuz-OverridedLink:focus-visible:not(:disabled){outline-color:var(--outlineColorDefault);outline-style:var(--outlineStyleDefault);outline-width:var(--outlineWidthDefault);outline-offset:var(--outlineOffsetDefault);}@media not all and (min-resolution: 0.001dpcm){@supports (-webkit-appearance: none) and (stroke-color: transparent){.css-1vykwuz-OverridedLink:focus-visible:not(:disabled){outline-style:var(--safariOutlineStyleDefault);}}}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link{-webkit-text-decoration:none;text-decoration:none;color:rgba(54,119,168,1);border-bottom:1px solid;border-bottom-color:rgba(54,119,168,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link svg{fill:rgba(54,119,168,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover{-webkit-text-decoration:none;text-decoration:none;color:rgba(47,112,157,1);border-bottom:1px solid;border-bottom-color:rgba(47,112,157,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover svg{fill:rgba(47,112,157,1);} CM slid 0.39% to C$91.06 Tuesday, in what proved to be an all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.02% to 25,405.14. Canadian Imperial Bank of Commerce closed C$1.11 below its 52-week high of C$92.17, which the company achieved on November 25th.25 Tsunami memes taking the internet by storm
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Vancouver constantly ranks high , and expensive homes, we expect to finish in the top 10, at least. But 22nd place in the latest report leaves us confused, considering which cities finished way above or below us. London finished first, with New York and Paris taking the silver and bronze medals, respectively. But Toronto landed above Vancouver in the 15th spot. Do we need to say more? Okay, let’s say more. Also finishing higher were Seattle, Boston, Chicago, and Dubai, for its “labour force participation.” Meanwhile, Montreal, a historically beautiful city with some of the best music and culture spots in the country, finished at 35th. The reason for Vancouver’s ranking seems to be based on a few factors. “A panorama of ancient forests, totem poles, pan-Asian diaspora, and hockey-loving hipsters makes Vancouver a coveted destination,” is put on the pro side. “Hockey-loving hipsters” is a term we don’t often hear used to describe Vancouverites. The city is also set to see some major events. The AA convention among them? “Vancouver will host the Invictus Games, the 90th anniversary of the first international Alcoholics Anonymous convention and part of the FIFA World Cup,” the list reads in part. The Invictus Games is coming sooner than they suggest. The games begin on February 8 in Vancouver and Whistler. We’d argue Taylor Swift, the Junos, and the most recent Grey Cup were also worth mentioning. Another pro? “An elemental collision of urban velocity and timeless, serene nature means that epic skiing, mountain biking, and hiking are just a half-hour’s transit or bike ride north, while the city itself is studded with sandy shorelines, verdant gardens and Canada’s urban green-space jewel: Stanley Park.” While our shorelines can be sandy, we certainly don’t have the same powder-soft offerings of some other spots, like Miami, which ranked a spot lower than Vancouver. If you didn’t catch it, the report suggests getting to the North Shore for skiing, biking, or hiking is just 30 minutes away by bus or by bike. Sounds like a dream! We hope they share their shortcuts with us. But the cons? Apparently the lack of space in hotels and the ongoing ban on short-term rentals. “In the midst of rising real estate prices, the city is facing another challenge: fewer hotel rooms — a direct result of the government converting hundreds of rooms into social housing during the pandemic and cracking down on Airbnb-only rentals (ostensibly to free up rental housing).” The validity of that statement is highly debatable. City officials have been concerned about the hotel crunch for a long time, well before the pandemic. “Although the economy related to tourism and conferences has continued to grow, the number of hotel rooms in the city has declined by 1,105 rooms over the past decade. A further 1,674 hotel rooms are at risk in the short and medium term for redevelopment, primarily to residential,” a reads in part. Adding that, apparently, that short-term rental crackdown, which saw a lot of support from locals when it came into full force provincially in May, makes hotel rooms too expensive for young people. “That means the existing hotel rooms and vacation rentals are often too prohibitively priced to allow a new generation to fall in love with this beguiling city in the wilderness (yes, Tree Cover is Top 5).” Vancouver’s hotel room prices during peak times have made of the hotels are award-winning for their , luxury spas, and one-of-a-kind dining offerings, and they are favourites of huge celebrities, so how cheap should they go? We do know that young people are still falling in love with our “beguiling” city regardless of their hotel stay. Vancouver was recently named one of the best cities for and the second-best spot for . We want to hear your thoughts on this ranking from you, hockey-loving hipster. Let us know in the comments below!Ex-OpenAI engineer who raised legal concerns about the technology he helped build has diedSuchir Balaji, a former OpenAI engineer and whistleblower who helped train the artificial intelligence systems behind ChatGPT and later said he believed those practices violated copyright law, has died, according to his parents and San Francisco officials. He was 26. Balaji worked at OpenAI for nearly four years before quitting in August. He was well-regarded by colleagues at the San Francisco company, where a co-founder this week called him one of OpenAI's strongest contributors who was essential to developing some of its products. “We are devastated to learn of this incredibly sad news and our hearts go out to Suchir’s loved ones during this difficult time,” said a statement from OpenAI. Balaji was found dead in his San Francisco apartment on Nov. 26 in what police said “appeared to be a suicide. No evidence of foul play was found during the initial investigation.” The city's chief medical examiner's office confirmed the manner of death to be suicide. His parents Poornima Ramarao and Balaji Ramamurthy said they are still seeking answers, describing their son as a “happy, smart and brave young man” who loved to hike and recently returned from a trip with friends. Balaji grew up in the San Francisco Bay Area and first arrived at the fledgling AI research lab for a 2018 summer internship while studying computer science at the University of California, Berkeley. He returned a few years later to work at OpenAI, where one of his first projects, called WebGPT, helped pave the way for ChatGPT. “Suchir’s contributions to this project were essential, and it wouldn’t have succeeded without him,” said OpenAI co-founder John Schulman in a social media post memorializing Balaji. Schulman, who recruited Balaji to his team, said what made him such an exceptional engineer and scientist was his attention to detail and ability to notice subtle bugs or logical errors. “He had a knack for finding simple solutions and writing elegant code that worked,” Schulman wrote. “He’d think through the details of things carefully and rigorously.” Balaji later shifted to organizing the huge datasets of online writings and other media used to train GPT-4, the fourth generation of OpenAI's flagship large language model and a basis for the company's famous chatbot. It was that work that eventually caused Balaji to question the technology he helped build, especially after newspapers, novelists and others began suing OpenAI and other AI companies for copyright infringement. He first raised his concerns with The New York Times, which reported them in an October profile of Balaji . He later told The Associated Press he would “try to testify” in the strongest copyright infringement cases and considered a lawsuit brought by The New York Times last year to be the “most serious.” Times lawyers named him in a Nov. 18 court filing as someone who might have “unique and relevant documents” supporting allegations of OpenAI's willful copyright infringement. His records were also sought by lawyers in a separate case brought by book authors including the comedian Sarah Silverman, according to a court filing. “It doesn’t feel right to be training on people’s data and then competing with them in the marketplace,” Balaji told the AP in late October. “I don’t think you should be able to do that. I don’t think you are able to do that legally.” He told the AP that he gradually grew more disillusioned with OpenAI, especially after the internal turmoil that led its board of directors to fire and then rehire CEO Sam Altman last year. Balaji said he was broadly concerned about how its commercial products were rolling out, including their propensity for spouting false information known as hallucinations. But of the “bag of issues” he was concerned about, he said he was focusing on copyright as the one it was “actually possible to do something about.” He acknowledged that it was an unpopular opinion within the AI research community, which is accustomed to pulling data from the internet, but said “they will have to change and it’s a matter of time.” He had not been deposed and it’s unclear to what extent his revelations will be admitted as evidence in any legal cases after his death. He also published a personal blog post with his opinions about the topic. Schulman, who resigned from OpenAI in August, said he and Balaji coincidentally left on the same day and celebrated with fellow colleagues that night with dinner and drinks at a San Francisco bar. Another of Balaji’s mentors, co-founder and chief scientist Ilya Sutskever, had left OpenAI several months earlier , which Balaji saw as another impetus to leave. Schulman said Balaji had told him earlier this year of his plans to leave OpenAI and that Balaji didn't think that better-than-human AI known as artificial general intelligence “was right around the corner, like the rest of the company seemed to believe.” The younger engineer expressed interest in getting a doctorate and exploring “some more off-the-beaten path ideas about how to build intelligence,” Schulman said. Balaji's family said a memorial is being planned for later this month at the India Community Center in Milpitas, California, not far from his hometown of Cupertino. —————- EDITOR’S NOTE — This story includes discussion of suicide. If you or someone you know needs help, the national suicide and crisis lifeline in the U.S. is available by calling or texting 988. —————-- The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP’s text archives. Matt O'brien, The Associated Press
A strange, damaging hurricane season comes to its official end Saturday, and forecasters are taking stock of its many surprises. “Every year there’s one or two things that make me scratch my head, and this year I was doing more head-scratching than normal,” said Philip Klotzbach, a meteorologist at Colorado State University who specializes in Atlantic hurricane forecasts. Most forecasters predicted a hyperactive hurricane season as early as April, with the National Oceanic and Atmospheric Administration issuing its highest-ever forecast. In the end, 18 named storms, 11 hurricanes and five major hurricanes formed — at the lower end of the range most forecasters expected, though still an above-normal and “extremely active” season. What surprised researchers was the bizarre way the season played out. It got off to a roaring start when Hurricane Beryl became the first Category 5 storm seen in the Atlantic Ocean in June . But from mid-August through early September, all went quiet. That’s usually when the season reaches its peak — around Sept. 10. But not a single named storm developed during those weeks, the first time since 1968 that has happened. Just when researchers thought their forecasts were turning into busts, storm activity roared back to life and hurricanes Helen and Milton struck, causing billions in damage. “It took your normal seasonal cycle and turned it on its head,” Klotzbach said. “What stood out to me — it was like a switch flipped and it went completely off and completely on. It went from nothing to Helene and a bunch of storms in the east Atlantic and Milton.” Researchers are studying what led to the strange pattern to boost their understanding of the factors that drive hurricanes and improve future forecasts. The reasons researchers predicted a busy, dangerous hurricane season this spring were record high ocean temperatures in the Atlantic and a likelihood that La Niña, a natural pattern of variability, would take hold. Ocean heat provides fuel for hurricanes, and it can enable them to intensify more quickly. La Niña is associated with hurricanes because it often decreases stability in the atmosphere. “Early on, we thought it would be the busiest season on record,” Klotzbach said. Although ocean temperatures remained at or near record highs in the North Atlantic, La Niña did not develop strongly, said Matthew Rosencrans, the lead hurricane forecaster at NOAA’s Climate Prediction Center, a division of the National Weather Service. Other factors most likely combined to cause the surprising lull in activity, as well. About 60% of hurricanes form as a result of Africa’s tropical monsoon season, which draws moisture into an area called the Sahel . But this year, the monsoon developed in a different location. "The monsoon ended up so far north and was so intense it ended up in places that hadn’t had rain in 45 years,” Rosencrans said. The change dampened tropical storm development. A separate climate pattern called the Madden Julian oscillation, which is a grouping of storms that travels near the equator, most likely also contributed, slowing storm development in early September and then allowing hurricanes to take off later in the month, Rosencrans said. Researchers will spend the winter investigating which factors had the most influence via climate and weather models. “It’s an opportunity to learn, to look at the system and have the Earth teach us something new,” he said. Despite the midseason break from tropical storms, 2024 set several records. Five hurricanes made landfall in the continental U.S., tying several years for the second most in history, according to a review Klotzbach published. Helene was the strongest hurricane to ever strike Florida’s Big Bend. And seven hurricanes formed in the Atlantic after Sept. 25, the most in recorded history. Hurricane Milton set a record for tornado warnings in Florida and spawned dozens of tornadoes. Research suggests climate change made Helene and Milton worse. Both hurricanes went through a rapid intensification process, in which a hurricane’s sustained wind speeds increase by at least 35 mph over 24 hours. The trend has become more common as global temperatures rise. What’s more, scientists who study the influence of climate change on weather found that rainfall in one-day events like Milton is now about 20% to 30% more intense because of climate change . The researchers, with the World Weather Attribution project, also determined that Milton’s wind speeds were most likely 10% stronger because of climate change’s influence. The group produced similar results for Hurricane Helene . A report published by Climate Central, a nonprofit organization that tracks climate trends, found that all 11 Atlantic hurricanes this year were intensified by an additional 9 to 28 mph because of human-caused global warming , primarily because of record warmth in the ocean. Rosencrans said research generally does not suggest that climate change will shift the number of named storms (those with winds of 39 mph or greater). However, a greater proportion of named storms will be expected to become hurricanes, and a larger share of those hurricanes will reach Category 4 or 5. That was true this year.
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BOSTON--(BUSINESS WIRE)--Nov 26, 2024-- Klaviyo (NYSE: KVYO), the company that powers smarter digital relationships, today announced that Amanda Whalen, Chief Financial Officer, will participate in fireside chats at the following investor events: Live webcasts and replays will be available on Klaviyo’s investor relations website at https://investors.klaviyo.com/ . About Klaviyo Klaviyo (CLAY-vee-oh) powers smarter digital relationships, making it easy for businesses to capture, store, analyze, and predictively use their own data to drive measurable, high-value outcomes. Klaviyo’s modern and intuitive SaaS platform enables business users of any skill level to harness their first-party data from more than 350 integrations to send the right message at the right time across email, SMS, and push notifications. Innovative businesses like Mattel, TaylorMade, Liquid Death, Stanley 1913, and more than 157,000 other paying customers leverage Klaviyo to acquire, engage, and retain customers—and grow on their own terms. Tag: IR View source version on businesswire.com : https://www.businesswire.com/news/home/20241126401616/en/ CONTACT: Investor Relations: Andrew Zilli ir@klaviyo.com Press: Dana Hershman press@klaviyo.com KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY TELECOMMUNICATIONS COMMUNICATIONS PROFESSIONAL SERVICES SOFTWARE NETWORKS DIGITAL MARKETING DATA ANALYTICS DATA MANAGEMENT SOURCE: Klaviyo, Inc. Copyright Business Wire 2024. PUB: 11/26/2024 04:05 PM/DISC: 11/26/2024 04:05 PM http://www.businesswire.com/news/home/20241126401616/en
( ) has long been a favourite among Canadian dividend investors for its impressive yield. Yet lately, cracks have started to appear in its financial foundation. In contrast, ( ) continues to shine as a beacon of stability and growth. Offering a safer haven for those looking for reliable long-term investments. While TRP’s high dividend might catch your eye, RY’s comprehensive strength makes it the better choice right now. The dividend TRP’s dividend yield of 4.80% certainly stands out, but investors should dig deeper before jumping in. The dividend stock’s payout ratio of 77.60% raises red flags. This means TRP allocates most of its earnings to dividends. Leaving little room to reinvest in the business or buffer against economic downturns. Compounding this issue is the company’s staggering debt-to-equity ratio of 178.88%. This points to heavy reliance on borrowed money. In a high-interest-rate environment, this level of leverage could lead to significant financial strain. RY offers a far more balanced picture. Its dividend yield of 3.23% might not be as high as TRP’s. Yet it is underpinned by a payout ratio of just 48.98%, leaving plenty of room for reinvestment and growth. Moreover, RY’s financial health is impeccable, with a trailing price-to-earnings (P/E) ratio of 15.57 and a forward P/E of 13.66. Thus signalling that it is not only profitable but also reasonably valued compared to its peers. Into earnings Recent earnings further highlight the divergence between these two companies. For the third quarter (Q3) of 2024, TRP posted a modest revenue growth of 3.60% year over year, with quarterly earnings growth not even registering. This performance underscores its struggle to generate meaningful growth in a challenging operating environment. RY, in stark contrast, delivered a robust 13% revenue growth and an impressive 16.20% increase in quarterly earnings. This steady performance reflects RY’s ability to navigate headwinds effectively; it’s supported by diversified revenue streams and a strong operational base. TRP’s cash flow challenges are another significant concern. While its operating cash flow of $7.47 billion might look decent at first glance, the dividend stock is running a negative levered free cash flow. This means that it is spending more than it generates after meeting its financial obligations and capital expenditures. This shortfall suggests that TRP may struggle to fund future growth without further increasing its debt. RY, however, is in a league of its own with $732.14 billion in total cash, providing an enormous cushion to weather economic volatility or seize growth opportunities. Historically, TRP’s performance has been inconsistent, with its 52-week range showcasing significant volatility. Its current price is near its year-high, which might limit further upside potential. In contrast, RY has steadily climbed, with a 52-week high of $179.86, currently trading close to this peak, reflecting consistent investor confidence. Future outlook Looking ahead, TRP faces mounting uncertainties. Cost overruns on major projects and regulatory hurdles could weigh heavily on its future earnings and balance sheet. The sector itself is also subject to increasing scrutiny and volatility, adding another layer of risk. On the flip side, RY has a positive outlook, driven by technological investments, international expansion, and a focus on diversified services. Its consistent return on equity (ROE) of 13.68% shows efficient management. And its robust fundamentals ensure it is well-positioned for growth. When it comes to dividends, TRP’s high yield is tempting, but its sustainability is under question. Investors should consider whether the company can maintain such payouts given its limited financial flexibility and heavy debt burden. Meanwhile, RY has a long history of dividend growth, reflecting its commitment to returning value to shareholders in a sustainable manner. With a lower payout ratio, RY is far less likely to cut dividends even during challenging times. Bottom line While TRP might seem attractive for its high yield, it comes with considerable risks. Its financial challenges, mounting debt, and modest growth prospects make it a risky bet, particularly in the current economic environment. RY, by contrast, offers a dependable mix of stability, growth, and dividends. For investors seeking long-term value, RY is the clear winner. A blue-chip stock that rewards patience and provides peace of mind in uncertain times.
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