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MIAMI BEACH, Fla., Dec. 12, 2024 (GLOBE NEWSWIRE) -- The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the "Fund”) today announced that Thomas J. Herzfeld, Chairman of the Board of Directors has resigned from the Board as of December 31, 2024. Mr. Herzfeld has also resigned as Portfolio Manager for the Fund effective as of the same date. Mr. Herzfeld has held the position of Chairman since the Fund's launch in 1994. He will retain the position of Chairman Emeritus and participate in board meetings on a non-voting basis. The Board has elected Cecilia Gondor to serve as Chairperson effective December 31, 2024. Ms. Gondor has served on the Board of Directors since 2014. She also served as Executive Vice President of Thomas J. Herzfeld Advisors, Inc. (the Fund's investment manager) from 1984 through May 2014. During her years at the investment manager, her research analysis garnered her the reputation as being one of the most knowledgeable analysts in the industry. Additionally, she was the Executive Vice President of Thomas J. Herzfeld & Co., Inc., a broker-dealer, from 1984 through 2010. Ms. Gondor currently is an owner and the Managing Member of L&M Management LLC group of partnerships, a residential and commercial office space investor located in Alexandria, Virginia. In addition, the Board has named Brigitta Herzfeld to fill the board vacancy created by Mr. Herzfeld's resignation. Ms. Herzfeld is a current member of the investment manager's executive committee and will join the Board as of December 31, 2024. She is a graduate of Bowdoin College (BA), Stanford University (MA) and Massachusetts Institute of Technology - MIT Sloan School of Management (MBA) and Wharton-Singapore Management University (Executive Management Program). She has held positions at Goldman, Sachs & Co and Lehman Brothers Japan, Inc. Mr. Herzfeld commented: "It has been my privilege and honor to serve on the Board of Directors of The Herzfeld Caribbean Basin Fund for its entire history. As I approach my 80 th birthday, it is with much pride that I turn the leadership of the Fund over to a new generation. Cecilia Gondor has been a consistent source of expert guidance for the Fund for many years and is a great choice to take over the chair position. And Brigitta Herzfeld's financial background and long history with our firm will be an invaluable source of expertise for the board. While I will remain active with the management company, it is clear that the time has come for me to step down from active leadership of the Fund. As Chairman Emeritus I will be working harder than ever to ensure that we maximize shareholder value; we are currently exploring several options that we think will be beneficial to our shareholders.” Mr. Herzfeld has had a long and illustrious career and is generally considered to be "the father of closed-end fund investing”. Mr. Herzfeld wrote the first of his six books on the subject of closed-end funds in 1979. He is the publisher of The Investor's Guide to Closed-End Funds monthly research report and is quoted and interviewed on the subject of closed-end funds by the world's most renowned financial papers. He has served as a contributing editor for the Global Guide to Investing (published by Financial Times ), and The Encyclopedia of Investments . Ms. Gondor responded to her election to Chairperson: "To follow in the footsteps of Tom Herzfeld is a very humbling experience. He has been a mentor to me and many others in the closed-end fund industry. I look forward to working with Brigitta Herzfeld and the other board members to continue the work that Tom started 30 years ago and am honored to contribute to the legacy he has built in any way that I can.” A graduate of Philadelphia University in 1966, Mr. Herzfeld served in the United States Army Reserve from 1966-1972, and on active duty in 1967. He received an honorary Doctor of Humane Letters (LHD) from Philadelphia University in 2008. He joined the Wall Street firm Reynolds & Co., in 1968 and began a specialization in closed-end funds. He formed the NYSE member firm of Carlino, Herzfeld and Kemm in 1970 and served as the firm's Senior Partner at the age of 25. He also became an Allied Member of the NYSE, an Associate Member of the AMEX and a senior register options principal. In 1981, he formed a stock brokerage firm, Thomas J. Herzfeld & Co., Inc., that was the first to specialize in the field of closed-end funds. He created the industry's first and only Closed-End Fund Index, "The Herzfeld Average," which has been published in Barron's weekly since its establishment in 1987. He also coined the term "lifeboat provisions” used in the industry to define tactics funds take to narrow discounts and keep prices afloat. About Thomas J. Herzfeld Advisors, Inc. Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds. The Firm also specializes in investment in the Caribbean Basin. The HERZFELD/CUBA division of Thomas J. Herzfeld Advisors, Inc. serves as the investment advisor to The Herzfeld Caribbean Basin Fund, Inc. a publicly traded closed-end fund (NASDAQ: CUBA). More information about the advisor can be found at www.herzfeld.com . Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund's investment objective, risks, charges and expenses. Please read the Fund's disclosure documents before investing. Forward-Looking Statements This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund's or TJHA's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as "trend,” "potential,” "opportunity,” "pipeline,” "believe,” "comfortable,” "expect,” "anticipate,” "current,” "intention,” "estimate,” "position,” "assume,” "outlook,” "continue,” "remain,” "maintain,” "sustain,” "seek,” "achieve,” and similar expressions, or future or conditional verbs such as "will,” "would,” "should,” "could,” "may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund's net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA's and the Fund's ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (12) the effects of an epidemic, pandemic or public health emergency, including without limitation, COVID-19. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC's website at www.sec.gov and on TJHA's website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA's website is not a part of this press release. Contact: Tom Morgan Chief Compliance Officer Thomas J. Herzfeld Advisors, Inc. 1-305-777-1660NORTHBROOK, Ill.--(BUSINESS WIRE)--Nov 25, 2024-- UL Solutions Inc. (NYSE: ULS), a global leader in applied safety science, today announced its environmental, social and governance (ESG) advisory and assurance services have earned recognition for the first time in the Verdantix Green Quadrant: ESG and Sustainability Assurance Services 2024 report for the comprehensive and innovative offerings that help organizations navigate the complex landscape of ESG and sustainability issues. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241122599995/en/ Verdantix cited multiple attributes that influenced their decision to name UL Solutions an “Innovator” company in the latest Verdantix Green Quadrant: ESG and Sustainability Assurance Services 2024 report. These include strong technical expertise in assurance over environmental metrics — particularly carbon emissions — as well as a comprehensive portfolio of assurance services across the corporate, product, project and site levels, and support for manufacturing firms with complex supply chains. (Photo: Business Wire) UL Solutions has been delivering enterprise ESG assurance and sustainability services since 2019, and other assurance-related services, such as environmental product declarations and zero-waste-to-landfill claim validation services, since 2010. In 2023, UL Solutions expanded its ESG advisory and assurance practice, part of the company’s Software and Advisory segment, to provide customers a pragmatic, science-driven approach to ESG and sustainability management. This includes a worldwide network of UL Solutions domain experts to help guide their progress and help them increase stakeholder confidence in the accuracy of their ESG and sustainability reporting. The company has also launched updates to its UL 360 platform, an ULTRUSTM software solution to help businesses collect, manage and report on their ESG performance. Verdantix cited multiple attributes that influenced their decision to name UL Solutions an “Innovator” company in the latest Verdantix Green Quadrant: ESG and Sustainability Assurance Services 2024 report. These attributes include strong technical expertise in assurance over environmental metrics — particularly carbon emissions — as well as a comprehensive portfolio of assurance services across the corporate, product, project and site levels, and support for manufacturing firms with complex supply chains. “The ESG and sustainability assurance services market has expanded significantly in recent years due to increased regulatory requirements and heightened pressure from stakeholders to address ESG concerns and mitigate greenwashing risks,” said Sean McCrady, vice president and general manager of the Enterprise Sustainability Group at UL Solutions. “We understand that navigating the complex ESG and sustainability landscape can be daunting and are honored that Verdantix recognized us for providing key ESG and assurance services to help companies achieve their goals.” Verdantix defines ESG and sustainability assurance services as “independent assessments, based on professional standards and guidelines, of the accuracy and reliability of ESG data and reporting processes.” The Verdantix Green Quadrant: ESG and Sustainable Assurance Services report provides a structured assessment of ESG and sustainability assurance services, enabling buyers of these services to make informed investment decisions. The Verdantix report identifies potential vendors, structures relevant purchase criteria and offers evidence-based assessments of ESG and sustainability assurance services. UL Solutions has previously appeared as a “Leader” company in the Verdantix Green Quadrant: Enterprise Carbon Management Software report in 2022 and 2023. The company was recognized for its greenhouse gas calculation and modeling capabilities, flexible reporting options, large emissions factors library and comprehensive carbon management software for Scope 1, 2 and 3 reporting. About UL Solutions A global leader in applied safety science, UL Solutions (NYSE: ULS) transforms safety, security and sustainability challenges into opportunities for customers in more than 110 countries. UL Solutions delivers testing, inspection and certification services, together with software products and advisory offerings, that support our customers’ product innovation and business growth. The UL Mark serves as a recognized symbol of trust in our customers’ products and reflects an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets and complex supply chains, and grow sustainably and responsibly into the future. Our science is your advantage. Source Code: ULS-IR View source version on businesswire.com : https://www.businesswire.com/news/home/20241122599995/en/ CONTACT: Investors: Dan Scott / Rodny Nacier, ICR Inc. IR@ul.comMedia : Kathy Fieweger Senior Vice President - Communications Kathy.Fieweger@ul.com 312-852-5156 KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ENVIRONMENT COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY ENVIRONMENTAL ISSUES REIT PROFESSIONAL SERVICES SUSTAINABILITY GREEN TECHNOLOGY ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) SOURCE: UL Solutions Inc Copyright Business Wire 2024. PUB: 11/25/2024 04:06 PM/DISC: 11/25/2024 04:05 PM http://www.businesswire.com/news/home/20241122599995/en
New Agent Tokenization Platform Simplifies Decentralized Finance ( DeFi ) and Empowers Users to Build and Manage Intelligent, Autonomous Agents GEORGE TOWN, Cayman Islands , Dec. 12, 2024 /PRNewswire/ -- IQ , the developer of AI/blockchain decentralized technology, today announced its Agent Tokenization Platform (ATP). ATP allows users to create tokenized agents that can operate autonomously. IQ's ATP introduces agents that are sovereign blockchain entities, capable of true autonomy. Unlike previous models, ATP agents operate independently, owning assets, performing on-chain actions, and continuously enhancing their capabilities through tokenized ecosystems. The market for AI agent tokens has exploded in recent months reaching a total of $8 billion in market cap in December. However the first phase of AI agent tokens has not yet fully realized their potential for independent operation, as they primarily serve as tools or extensions rather than autonomous entities. While they demonstrate innovation in tokenization and decentralized ecosystems, these agents often remain reliant on centralized oversight or narrowly defined functions. This allows ATP to address the significant gap in DeFi participation despite a substantial number of cryptocurrency holders worldwide. With over 600 million cryptocurrency holders, only 7 million are currently engaged in DeFi activities. By enabling seamless, conversational interactions, ATP streamlines intricate blockchain processes, allowing users to perform sophisticated DeFi tasks with straightforward prompts. For example, tasks that once required five or more steps across multiple platforms can now be accomplished in a single prompt through these new AI agents that can be launched on ATP. Users can co-own these agents by trading their tokens through the platform and unlock additional features as the value of the token increases. " DeFi has the potential to reshape financial systems globally, but its complexity limits mass adoption," said Navin Vethanayagam , Chief Brain of IQ. "With ATP, we're building a platform where builders can create autonomous agents that are capable of simplifying DeFi with simple conversational UIs. Unlike other agent tokenization platforms which have excelled in entertainment, ATP is laser focused on letting users create and manage transformative autonomous DeFi AI superagents." ATP represents a significant advancement in blockchain accessibility by integrating conversational AI with sovereignty and advanced blockchain features. The platform's superagent capabilities enable the analysis of vast data points across assets, chains, and yield strategies, offering customized solutions for users with varying levels of expertise. These agents can autonomously own assets and perform on-chain actions, unlocking new avenues for innovation across decentralized ecosystems. Platform Features and Applications: Agent Deployment: ATP allows the transformation of AI models into autonomous agents for diverse applications, ranging from DeFi operations to content creation. Tokenization & Growth: Users can tokenize agents to create networks of co-owners that support development and share in success. Agents can manage a portion of their tokens and interact with DeFi autonomously. Decentralized Sovereignty: ATP agents function independently without control by a single entity, ensuring sustained resilience and fostering innovation across the blockchain. Powered by IQ tokens, ATP integrates governance participation and deflationary mechanisms to reduce token supply and reward stakeholders, further creating ecosystem-wide value. The IQ token powers ATP, driving its governance, liquidity, utility, and growth: Governance : IQ token holders, through staking in hiIQ, participate in governance decisions that shape the development of ATP and BrainDAO. Deflationary Design : Platform fees paid in IQ are partially burned to reduce supply, while the remainder is distributed as staking rewards. Liquidity Pairing : Every agent launched on ATP pairs with the IQ token, linking all agents to the IQ token ecosystem and driving demand. IQ is showcasing the potential of the ATP by transforming its flagship AI products into tokenized agents. IQ GPT : Currently serving over 2 million users across 100+ crypto communities, IQ GPT has established itself as a leading AI for blockchain knowledge through IQGPT.com . In 2025, IQ GPT will relaunch as a tokenized agent with its own independent token. This transformation introduces tokenomics that enable direct community governance, allowing users to influence the agent's direction and share in its success. Sophia : Developed by BrainDAO, Sophia is an AI editor designed for IQ.wiki , the largest blockchain encyclopedia. Integrated with ATP, Sophia will revolutionize content creation by introducing tokenized incentives, rewarding contributors for curating and expanding blockchain knowledge while fostering collaboration within the community. This interconnected model ensures that the growth of ATP directly benefits IQ token holders while fostering a thriving ecosystem. The IQ ATP is initially launching on the Fraxtal blockchain. The Fraxtal team is developing a novel AIVM with Proof of Inference consensus system in exclusive collaboration with IQ to make any AI agent deployed to the blockchain become fully autonomous and sovereign with no single party in control of the agent, a world first. This AIVM technology will initially only be available to AI agents launched on ATP. "Integrating IQ's ATP into Frax's ecosystem instantly makes DeFi more intuitive, while opening it up to millions more users," said Sam Kazemian , founder and CEO of Frax. "We're eliminating the gap between complexity and accessibility, setting the stage to onboard the next billion users to crypto ." About IQ IQ is building the next generation of decentralized technology, combining AI and blockchain to empower users and projects alike. As the connector and launcher for tokenized agents, Agent Tokenization Platform (ATP) provides the foundation for creating intelligent, autonomous agents that reshape industries, foster vibrant communities, and unlock new opportunities in DeFi and beyond. For more information, please visit IQ.wiki on the Web , X , Discord , or Facebook . All registered trademarks and product identifiers belong to their respective corporate entities. Any other trademarks or product names referenced here are also owned exclusively by their relevant companies. Our discussion may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events. IQ Media Contact: Gary Bird FortyThree, Inc. [email protected] 831.888.9011 SOURCE IQ
Nissan execs sound the alarm on an increasingly dire situationNoneNone
HALIFAX — A day after Nova Scotia Premier Tim Houston led the Progressive Conservatives to a massive majority win, the Liberals were licking their wounds and wondering why their party was almost wiped off the political map. On Wednesday morning, once all the ballots were counted, the incumbent Tories had secured 43 of the 55 seats in the legislature, an increase of nine. The NDP won nine seats, an increase of three, and the Liberals fell to only two seats, a dozen less than when the campaign started. One Independent candidate held her seat — a first for the province. Liberal Leader Zach Churchill, a 40-year-old former cabinet minister, lost his seat after a long, see-saw battle with his Tory rival in the riding of Yarmouth — Churchill's hometown on Nova Scotia's southwestern shore. The Liberals had to give up their role as official opposition and the party barely held on to official party status. "At the end of the day, this falls on my shoulders," Churchill said afterwards. "This loss belongs to me and me alone." But it would be wrong to blame Churchill for his party's collapse at the polls, says Tom Urbaniak, a political science professor at Cape Breton University in Sydney, N.S. "Zach Churchill was dealing with a damaged Liberal brand — damaged in large part by the current standing of Prime Minister Justin Trudeau," Urbaniak said in an interview Wednesday, adding that Houston took advantage of that weakness. "(Churchill) was portrayed as Justin Trudeau's junior protege. And that stuck with some Nova Scotians." Throughout the campaign, Houston and his Tory colleagues tried to link Trudeau — whose Liberals are trailing the federal Tories by about 20 points in the polls — with Churchill, a well-spoken career politician who was elected to lead the provincial party in July 2022. "We know Zach Churchill defends his federal cousins at every turn,” provincial Fisheries and Aquaculture Minister Kent Smith said in a statement early in the campaign. “Once again, when Zach Churchill had the choice to stand up for Nova Scotians or stand with Justin Trudeau, he chose Trudeau.” Churchill was also hobbled by a relatively low provincial profile, Urbaniak said. Despite the fact that he had held the riding of Yarmouth for the past 14 years and served in the cabinet of former Liberal premier Stephen McNeil, Churchill failed to leave much of an impression on the electorate, he said. Part of the problem was that McNeil, who served as premier from 2013 to 2021, rarely let his ministers spend much time in the limelight. "Stephen McNeil, at times, ran a one-person government," the professor said. "The premier made the big decisions .... That came back to hurt Zach Churchill." As well, Houston's decision to call an early election also stung the Liberals and the NDP, both of which were still nominating candidates when the campaign started. On another front, the Liberals in southwestern Nova Scotia were hurt by the fact that residents in several fishing communities had long complained about what they said was the federal Liberal government's failure to stop the illegal fishing of lobsters and baby eels. "The perceived federal mismanagement was a factor in some ridings," Urbaniak said, pointing to the Acadian riding of Clare, which had been held by the Liberals for the past 31 years. Liberal candidate Ronnie LeBlanc, a local fisherman, lost the riding to rookie Tory candidate Ryan Robicheau on Tuesday night by more than 1,000 votes. During the campaign, Churchill promised to establish an inquiry into illegal fishing, but voters on the South Shore were unimpressed. The Tories won all nine ridings in the region. It was Churchill's first election as leader. On Tuesday night, he declined to say if he would stay in the role. Neither Churchill nor Houston were available for an interview Wednesday. As for the NDP, party leader Claudia Chender said she was looking forward to taking on the large Tory majority. "I think what we take away from being the official Opposition is that people are looking for a strong voice and they are looking for a different voice,” said Chender, a 48-year-old lawyer. It was also her first election as leader. She said her priorities include pushing for more protection for renters, and reducing the number of people still seeking a doctor. The three additional seats won by the NDP are all in the Halifax area, part of the party’s traditional power base. Chender said the election results showed her party has room to grow, particularly along the South Shore and in Cape Breton. “In many ridings across this province there were tight two- or three-way races and we are building,” she said. “I think that work has started and will continue.” This report by The Canadian Press was first published Nov. 27, 2024. Michael MacDonald, The Canadian PressNone
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