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Tafara Gapare throws down 19 points and a highlight dunk, and Maryland beats Bucknell 91-67
ESTERO, Fla. (AP) — Sydney Shaw scored 20 points and made four 3-pointers, JJ Quinerly added 14 points and No. 12 West Virginia handed Boise State its first loss, 82-47 on Saturday in the Gulf Coast Showcase. West Virginia advances to the championship game on Sunday, while Boise State plays for third place. The Mountaineers have started 8-0 in back-to-back seasons after last year's 11-0 beginning. Quinerly also had three steals to help West Virginia reach double figures in that category in every game this season. The Mountaineers also forced 20-plus turnovers for the eighth straight game. Boise State was held to just six points in the first and third quarters. West Virginia went on two 10-0 runs in the first quarter to build a 16-point lead. The Mountaineers led by double figures the rest of the way. It was 45-23 at halftime then Quinerly scored four straight points to begin a 9-0 run that ended in a 32-point lead. Freshman Jordan Thomas, coming off her first career double-double, had 10 points and six rebounds for West Virginia. Elodie Lalotte scored 11 points for Boise State (7-1). Teryn Gardner addd 10. West Virginia was coming off an 89-54 victory over High Point on Friday to begin the tournament. The Mountaineers led by as many as 39 points and forced 22 turnovers in that one. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up . AP women’s college basketball: andShehnaaz Gill Says ‘Reel’ Is Her ‘Meal’ As She Dances On ‘Kajra Mohabbat Wala’Social Security Prepares a New Year’s Eve Gift for Retirees – A Check of $967 Will Be Paid to Their Accounts
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HONG KONG , Nov. 27, 2024 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (Nasdaq: ICLK), a renowned online marketing and enterprise solutions provider in Asia that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced unaudited financial results for the six months ended June 30, 2024 . Six Months Ended June 30, 2024 2023 Percentage change (US$ in thousands) (Unaudited) Financial Metrics: Revenue from continuing operations Marketing Solutions 9,324 12,663 (26) % Enterprise Solutions 4,896 4,330 13 % Total revenue from continuing operations 14,220 16,993 (16) % Gross profit from continuing operations 8,096 9,276 (13) % Net loss from continuing operations (1,269) (10,275) N/M Net loss from discontinued operations (5,104) (18,294) N/M Diluted net loss from continuing operations per American Depositary Shares ("ADS") (0.12) (1.01) N/M Operating Metrics: Gross billing 23,060 29,983 (23) % "I am pleased to report that our continuing operations recorded an improvement in gross margin to 56.9% in the first half of 2024 from 54.6% in the first half of 2023, and we saw the increase in enterprise solutions revenue by 13% year-over-year. The Company will continue to focus on improving the financial performance and cash flows, while exploring strategic opportunities for broader business growth.", said Mr. Jian Tang , Chairman, Chief Executive Officer and Co-Founder of iClick. "We continue monitoring and evaluating operations and market trends proactively in order to optimize our business and enhance profitability. We have recently completed the disposal of our mainland China Enterprise Solutions business and demand side Marketing Solutions business. The results of these businesses are presented under discontinued operations." First Half Year of 2024 Results on Continuing Operations: Revenue for the first half of 2024 was US$14.2 million , compared with US$17.0 million for the first half of 2023. Revenue from Marketing Solutions declined to US$9.3 million for the first half of 2024, compared with US$12.7 million for the first half of 2023. It was resulted from our strategic contraction of lower margin and higher risk businesses, with weaker demand from clients on advertising spending due to uncertainty in the macro-economic environment. Revenue from Enterprise Solutions was US$4.9 million for the first half of 2024, improved from US$4.3 million in the first half of 2023 due to the increasing demand for digital transformation and services. Gross profit for the first half of 2024 was US$8.1 million , compared with US$9.3 million for the first half of 2023. With the effort of reducing lower margin and higher risk businesses, and a rising revenue contribution from the higher-margin Enterprise Solutions business, gross profit margin increased to 56.9% for the first half of 2024 from 54.6% for the first half of 2023. Total operating expenses were US$12.4 million for the first half of 2024, decreased from US$14.1 million for the first half of 2023. The change was primarily due to our cost optimization execution, which resulted in reduction of staff cost and savings on promotional expenses. The expected credit losses provision of trade receivables was also reduced because of our close monitoring of cash collection. Net loss from continuing operations was US$1 .3 million for the first half of 2024, significantly improved from the net loss of US$10.3 million for the first half of 2023, mainly due to no impairment of equity investments in the first half of 2024, which we recorded US$5.6 million in the first half of 2023. Operating loss was reduced by US$0.6 million . Net loss from continuing operations attributable to the Company's shareholders per basic and diluted ADS for the first half of 2024 was US$0.12, compared with a net loss attributable to the Company's shareholders per basic and diluted ADS of US$1.01 for the first half of 2023. Gross billing 1 from continuing operations was US$23.1 million for the first half of 2024, compared with US$30.0 million for the first half of 2023, mainly as a result of our continued strategy of reducing lower margin and higher risk businesses, as well as clients' reduced advertising spending. Net loss from discontinued operations was US$5 .1 million for the first half of 2024, compared with the net loss of US$18.3 million for the first half of 2023, mainly due to cost optimization, and gain on disposal of discontinued operations amounting to US$2 .6 million in the first half of 2024. As of June 30, 2024 , the continuing operations of the Company had cash and cash equivalents, time deposits and restricted cash of US$70.2 million , compared with US$41.3 million as of December 31, 2023 . About iClick Interactive Asia Group Limited Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia . With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com . 1 Gross billing is defined as the aggregate dollar amount that clients pay the Company after deducting rebates paid and discounts given to. Safe Harbor Statement This announcement contains forward-looking statements, including those related to the Company's business strategies, operations and financial performance. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. For investor and media inquiries, please contact: In China: In the United States: iClick Interactive Asia Group Limited Core IR Catherine Chau Tom Caden Phone: +852 3700 9100 Tel: +1-516-222-2560 E-mail: ir@i-click.com E-mail: tomc@coreir.com (financial tables follow) ICLICK INTERACTIVE ASIA GROUP LIMITED Unaudited Condensed Consolidated Statements of Comprehensive Loss (US$'000, except share data and per share data, or otherwise noted, unaudited) Six Months Ended June 30, 2024 2023 Continuing operations Revenue 14,220 16,993 Cost of revenue (6,124) (7,717) Gross profit 8,096 9,276 Operating expenses Research and development expenses (311) (265) Sales and marketing expenses (4,381) (8,826) General and administrative expenses (7,704) (5,052) Total operating expenses (12,396) (14,143) Interest expense (32) (117) Interest income 598 591 Other gains/(losses), net 2,560 (5,756) Loss before income tax expense and share of losses from an equity investee (1,174) (10,149) Share of losses from an equity investee (37) (19) Loss before income tax expense (1,211) (10,168) Income tax expense (58) (107) Net loss from continuing operations (1,269) (10,275) Net loss attributable to non-controlling interests 111 9 Net loss from continuing operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (1,158) (10,266) Discontinued operations Loss from operations of discontinued operations (7,666) (18,305) Income tax (expense)/credit (23) 11 Gain on disposal of discontinued operations 2,585 - Net loss from discontinued operations (5,104) (18,294) Net loss attributable to non-controlling interests 32 49 Net loss from discontinued operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (5,072) (18,245) Net loss (6,373) (28,569) Net loss attributable to iClick Interactive Asia Group Limited's ordinary shareholders (6,230) (28,511) Net loss from continuing operations (1,269) (10,275) Other comprehensive loss: Foreign currency translation adjustment, net of US$nil tax (13) (131) Comprehensive loss from continuing operations (1,282) (10,406) Comprehensive loss from continuing operations attributable to non-controlling interests 111 49 Comprehensive loss from continuing operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (1,171) (10,357) Net loss from discontinued operations (5,104) (18,294) Other comprehensive income: Foreign currency translation adjustment, net of US$nil tax - 301 Comprehensive loss from discontinued operations (5,104) (17,993) Comprehensive loss from discontinued operations attributable to non -controlling interests 32 20 Comprehensive loss from discontinued operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (5,072) (17,973) Comprehensive loss attributable to iClick Interactive Asia Group Limited's ordinary shareholders (6,243) (28,330) Net loss from continuing operations per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.12) (1.01) — Diluted (0.12) (1.01) Net loss from discontinued operations per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.51) (1.79) — Diluted (0.51) (1.79) Net loss per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.63) (2.80) — Diluted (0.63) (2.80) Weighted average number of ADS used in per share calculation: — Basic 9,955,943 10,178,966 — Diluted 9,955,943 10,178,966 ICLICK INTERACTIVE ASIA GROUP LIMITED Unaudited Condensed Consolidated Balance Sheets (US$'000, except share data and per share data, or otherwise noted, unaudited) As of June 30, 2024 As of December 31, 2023 Assets Current assets Cash and cash equivalents, time deposits and restricted cash 70,239 41,264 Accounts receivable, net of allowance for credit losses of US$1,558 and US$1,571 as of June 30, 2024 and December 31, 2023 respectively 11,210 13,535 Other current assets 15,813 11,516 Discontinued operations 54,454 93,488 Total current assets 151,716 159,803 Non-current assets Other assets 3,727 3,596 Discontinued operations 112 305 Total non-current assets 3,839 3,901 Total assets 155,555 163,704 Liabilities and equity Current liabilities Accounts payable 3,310 4,462 Bank borrowings 36,932 1,965 Other current liabilities 23,830 20,200 Discontinued operations 56,607 93,445 Total current liabilities 120,679 120,072 Non-current liabilities Other liabilities 221 551 Discontinued operations 1,463 1,829 Total non-current liabilities 1,684 2,380 Total liabilities 122,363 122,452 Equity Ordinary shares – Class A (US$0.001 par value; 80,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 38,752,446 shares and 44,477,356 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) 39 45 Ordinary shares – Class B (US$0.001 par value; 20,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 5,034,427 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) 5 5 Treasury shares (218,396 shares and 6,398,616 shares as of June 30, 2024 and December 31, 2023, respectively)The New England Patriots' list of opponents for the 2025 NFL season is set in stone. As the last-place team in the AFC East, the Patriots (3-13) will schedule matchups against the last-place squads in the AFC South, AFC West, and NFC East. Those teams are the Tennessee Titans (3-13), Las Vegas Raiders (4-12), and New York Giants (3-13). Their 2025 schedule will also feature matchups against the AFC North and NFC South in addition to their usual two games vs. each AFC East rival. On the surface, it looks like the Patriots' 2025 schedule will be easier than their 2024 slate. Of course, New England must make some noteworthy changes in the offseason if it hopes to bounce back from its tumultuous 2024 campaign. Here is the full list of Patriots opponents for the 2025 NFL season: The Patriots will wrap up their 2024 campaign next Sunday when they welcome the Buffalo Bills to Gillette Stadium.
Pet passports for dogs, cats and ferrets to travel within UK ‘an outrage’By Pierce Oel A. Montalvo IT’S ONE SMALL STEP for the central bank, and one giant leap for the Philippine banking industry. Signed last July, the new Anti-Financial Account Scamming Act (AFASA) signifies the most comprehensive attempt yet to protect Filipino consumers from digital financial crimes. Beyond the short-term, the AFASA serves as a cornerstone for the central bank’s 2024–2029 Financial Services Cyber Resilience Plan. The plan outlines a comprehensive roadmap and key framework designed to strengthen the financial services sector’s resilience against cyber threats. “It will protect our people from falling prey to perpetrators who target their banks and e-wallet accounts,” President Ferdinand R. Marcos, Jr. said during the signing ceremony of the law. The legislation reflected a shared commitment among government and financial leaders to address the growing threat of cybercrime head-on. “We express our full support for the new anti-financial account scamming law. This will help us strengthen consumer protection and foster trust and confidence in the Philippine financial system,” said Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. Online scams continue to happen just about anywhere, and at unprecedented rates. A study by the nonprofit Global Anti-Scam Alliance revealed that approximately $1.03 trillion was lost by consumers worldwide in scams in 2023. According to data from the same study, the Philippines would have lost an estimated P459.98 billion from digital scams during the same year, or 1.9% of its economic output. Cybersecurity firm Kaspersky also reported that the Philippines recorded the highest number of financial phishing attempts targeting business devices in Southeast Asia in 2023, with 163,279 incidents detected and blocked throughout the year. The BSP further reported that 59.48% of cyber fraud losses among BSP-supervised financial institutions (BSFIs) in 2023 were attributed to account takeovers, identity theft, and phishing. Overall, cyberfraud losses surged by 212% compared to 2022. “[T]his is essential in this time as cybercriminals use technology to defraud fellow Filipinos — causing not only personal economic loss through them but also a loss of trust in financial institutions,” said Mr. Marcos. These figures underscored an urgency of robust legal and institutional measures to combat digital financial crimes. The specifics of the AFASA reveal how the BSP aims to reinforce financial security in the Philippines. THE LAW IN BRIEF AFASA seeks to strengthen security measures and boost consumer confidence in the expanding financial technology sector. In an annual report by Fintech News Philippines, e-money accounts grew by 12.9% to 47.6 million as of the second quarter of 2022. Meanwhile, data from the Bangko Sentral ng Pilipinas (BSP) revealed that the proportion of Filipino adults with bank accounts rose to 65% in 2022, up from 56% in 2021. A key element of the AFASA is its explicit definition of “financial account scamming,” which points to a range of illicit activities. These include traditional money muling operations, where individuals utilize their accounts to facilitate the transfer of illicit funds. “[Money muling operations include] opening accounts using fake names or identity documents belonging to other people and selling or renting out financial accounts,” said Atty. Nicasio A. Conti, chief executive officer of research and intelligence agency Capstone-Intel, in a Messenger chat. The AFASA also recognizes social engineering schemes as a form of financial account scamming. “Examples of social engineering schemes include impersonating a representative of an institution to obtain sensitive information or using electronic communications to deceive someone and gain access to their information,” said Mr. Conti. The AFASA also designates money muling or social engineering as “economic sabotage” if it involves: (a) conspiracy of three or more people; (b) three or more victims; (c) mass mailers; or (d) human trafficking. “There is no specific threshold for amount involved or specific pattern to be considered to qualify a money muling activity or a social engineering scheme as economic sabotage,” said the BSP in a statement. “As long as the money muling activity or social engineering scheme is committed in the manner mentioned above, it shall be considered economic sabotage.” Penalties under AFASA are extensive. Money muling carries 6-8 years imprisonment and/or fines from P100,000 to P500,000. Social engineering scams result in 10-12 years (up to 14 if the victim is a senior citizen) and fines up to P1 million (or up to P2 million for senior citizen victims). Economic sabotage can lead to life imprisonment and fines up to P5 million. BSFIs will also be responsible for reimbursing customers who lose money due to scams if the bank didn’t have proper anti-fraud measures in place or acted negligently. They will also be liable if they fail to freeze funds involved in a disputed transaction as required by the new law. “For claims not exceeding P10 million, aggrieved account holders may file a formal complaint for adjudication before the Consumer Complaints Resolution Office of the BSP,” the central bank said. The scope of AFASA extends beyond traditional banking services as well. Mr. Conti said that the AFASA covers all types of financial accounts, including deposit accounts, trust accounts, investment accounts, credit card accounts, and electronic wallets. This broad coverage ensures comprehensive protection against various forms of financial account scamming across the board. The AFASA also compels all BSFIs to adopt more rigorous measures to protect consumers. In a memorandum elaborating upon AFASA’s prescribed risk management systems, the BSP reinforces the responsibility of BSFIs to employ proper fraud management systems, infrastructure and security monitoring, multi-factor authentication, and user enrollment and verification processes. According to the same memorandum, BSFIs are now expected to keep extensive audit trails for e-service transactions. BSFIs now must also undergo annual Vulnerability and Penetration Testing from independent external parties. “The degree of sophistication and layers of risk management system and controls depends on the size, nature and complexity of BSFIs’ business models and operations,” said the BSP. Another highlight of the new law is the heightened power of the BSP in its investigation of financial accounts. “BSP deemed it necessary to obtain new powers to help law enforcement authorities (LEAs) and competent government agencies in preventing and combatting financial account scams,” the BSP added. Through the AFASA, the BSP gains the power to investigate suspicious transactions and share related information with law enforcement. The BSP emphasized that financial account investigations would require prior evidence of potential involvement in money muling or social engineering schemes, and that any resulting information would be shared solely with LEAs and relevant government authorities. “Any information that may be shared by BSP should be used solely for the purpose of filing and prosecuting a criminal case for violation of the AFASA,” said the BSP. Consequently, bank secrecy laws do not apply to financial accounts under investigation of the BSP. These exemptions apply to the Law on Secrecy of Bank Deposits, the Foreign Currency Deposits Act of the Philippines, and the Revised Non-Stock Savings and Loan Association Act of 1997. This measure modifies the application of said laws, facilitating greater government oversight for investigations made by the BSP. “It should be understood, however, that the authority to enforce penal provisions of the AFASA, including the powers to investigate and prosecute the prohibited acts defined under the law, make arrests and to file criminal complaints, are still lodged with the LEAs and appropriate authorities,” the BSP said. THE SENTIMENT By enhancing security, the AFASA aims to boost consumer confidence and promote wider use of financial services, aligning with the BSP’s goals for a robust digital financial ecosystem. However, according to the Bankers Association of the Philippines (BAP), the strict measures of the AFASA may leave to unintended outcomes. “For example, the rapid freeze and verification requirements may introduce operational delays, particularly if the verification process or industry-wide reporting mechanisms lack standardization,” the BAP said in an e-mail interview. “This could result in temporary inconveniences for legitimate account holders and delays in fund access during verification procedures.” Carlos T. Tengkiat, chief information security officer for Rizal Commercial Banking Corp., said that there should be no unforeseen consequences arising from the new law. “There are safeguards in place [that] also the penalize those who seek to abuse the information sharing portion of the investigation among various public and private sector personnel,” he said in an e-mail. The BAP also said that informal sector participants who lack understanding of the legal risks associated with account misuse may initially face challenges. The BSP’s 2021 financial inclusion survey revealed that only 7% of Filipinos have attended a seminar on financial literacy. Furthermore, only 2% of Filipino respondents answered all six basic financial literacy questions correctly, in the same survey. “This emphasizes the need for an extensive public awareness campaign to inform the public and SMEs of AFASA’s regulations and discourage them from unknowingly participating in money-muling activities,” said the BAP. “The informal financial sector would benefit because the law gives avenues for them for investigation as well as restitution for the crimes committed against them,” said Mr. Tengkiat. Capstone-Intel’s Mr. Conti said that balancing strict security protocols with a smooth customer experience will also be a critical concern. “Of course, there still are the provisions of the Data Privacy Act. Overly stringent measures could frustrate users, so banks need to focus on user-friendly yet secure solutions.” Mr. Tengkiat also said that be the shifting landscape of technologies as well as the creativity of fraudsters would be a potential challenge. “These may make controls fluid, to cope with these financial institutions must be able to anticipate new threats, adopt new technologies as well as preserving good customer experience when their services are used,” Mr. Tengkiat said. Despite the new law, trust in financial technology remains compromised among Filipino consumers, amid scams persisting in the country’s financial landscape. “I’m usually very careful,” said Nikki Bryce Roque, in his Facebook post, recounting how he lost his entire mobile wallet balance to financial account scammers last November. A seemingly legitimate text message, sent through the wallet’s official SMS number, alerted Mr. Roque to an impending insurance renewal and prompted him to click a link to cancel the charge. The link led him through a series of supposedly official web pages requesting his one-time password and mobile wallet PIN, resulting in an unauthorized transaction that drained his account dry. “They can even invade legit sites and incorporate their scamming mechanisms there,” said Mr. Roque in a Messenger chat. A recent survey by mobile operator trade body GSMA reveals that 71.4% of Filipinos perceive growing risks to account security, with financial fraud being a major concern. Furthermore, a 2023 GSMA survey revealed that 67% of Filipinos did not report instances of scams to law enforcement. Reporting was hampered by complexity, perceived ineffectiveness, and uncertainty about where to report. When asked if he believed he was adequately informed by his banks, service providers, or even the BSP, Mr. Roque said: “No, I didn’t even know it exists.” Another e-wallet user and scam victim, who requests to remain anonymous, also said that he was not aware with the law’s existence. Investigations by his service provider regarding his case claimed that one-time passwords were sent to only the user’s device, a claim the user says is impossible. He has since contacted both his e-wallet service provider and the BSP through official channels about his incident, albeit hearing no response from the central bank. “It feels like they didn’t take any action regarding my concern. They didn’t even reach out to me once.” Mr. Roque said that the new law has only transferred the responsibility to central banks and not to the institutions who are needing more stringent security features. “If the bank heavily invests in the investigation phase rather than strengthening its security features, it means they are willing to let their clients get robbed as long as they are not held legally liable.” Nonetheless, the BAP remains optimistic. “The BAP anticipates that AFASA will encourage the sector to expand product offerings focused on account security and fraud prevention, which aligns with the association’s goals of elevating cybersecurity standards in Philippine banking and providing consumers with secure, reliable financial services,” the BAP said.
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