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Liz Kendall tells Brits “if you can work you must” and she will axe benefits for young adults who refuse work & trainingThe University of New England campus in Biddeford. Photo courtesy of the University of New England Starting next fall, high-achieving students from low-income families will be able to attend the University of New England tuition-free. The Biddeford- and Portland-based private university announced the program Monday after a spate of similar moves by colleges across the country. President James Herbert said it’s an extension of the university’s long-time mission of making education more accessible for low-income and first-generation students. “Our goal, quite simply, is to be able to provide access to this transformative educational experience to as many students as we can,” Herbert said. In order to qualify for free tuition at UNE, students need to have an annual family income of less than $100,000 and a Student Aid Index of 0. That’s the number calculated by the Free Application for Federal Student Aid, or FAFSA, form to determine eligibility for aid. Students must enroll full time and live on campus for all four years of their degree. Students also need at least a 3.85 unweighted high school GPA to qualify. Once admitted, they’ll have to maintain a 3.5 cumulative GPA for continued eligibility. Free tuition does not apply retroactively to current UNE students. The program will cover up to four years of tuition, but does not include residential or dining costs. According to UNE, there are 21 current students who would be eligible for free tuition, while about 75 applicants last year met the criteria. But the university is hoping the offer draws in more eligible applicants. Total enrollment for this year Herbert anticipates the number of new students drawn in by the program will be “in the dozens, not the hundreds.” And he said the cost to the university should be just a few thousand dollars per students, since students who are eligible for free tuition would have already qualified for need-based financial aid and merit-based scholarships. Herbert said 98% of UNE students already receive some amount of financial aid. “We only have limited funds, so this is our first step, but what I really hope is to grow the program over time,” Herbert said. He said the funding for free tuition comes from donations – both from alumni and nonaffiliated supporters – and from the school’s institutional financial aid budget. The university is in the midst of a fundraising campaign, which Herbert said has been focused on raising money for student scholarships. “It’s just a question of funds,” he said. “It’s not a philosophical thing at all, I would love to be able to apply it retroactively to current students. It’s just that we have to start somewhere.” He said the same is true for students below the 3.85 GPA threshold, another expansion he would hope to make if the university has a successful first year and has the funds to scale up the program. UNE was one of half a dozen schools across the U.S. including the Massachusetts Institute of Technology and University of Texas System, that announced free tuition for students this week. At MIT, any student whose family makes under $200,000 annually can attend tuition-free starting in the fall. Herbert said that while MIT is an extremely selective university with a massive endowment, UNE is focused on offering free tuition with access and workforce in mind. “Maine, in particular, has major gaps in its workforce,” Herbert said. He said UNE sees itself as critical in supplying the aging state with professionals like marine biologists, computer scientists, supply chain managers and especially doctors. UNE has the only medical school in the state and is the biggest provider of medical professionals in Maine. “The point of this is, on the student side, helping the student,” Herbert said. “But on the macro state-level side, helping Maine by bringing in students.” Maine has offered free tuition to the state’s community colleges since 2022. That program applies to students who graduated from high school between 2020 and 2025 . This story will be updated. Maine’s poorest students still face burdens, despite state’s free community college program We invite you to add your comments. We encourage a thoughtful exchange of ideas and information on this website. By joining the conversation, you are agreeing to our commenting policy and terms of use . More information is found on our FAQs . You can modify your screen name here . Comments are managed by our staff during regular business hours Monday through Friday as well as limited hours on Saturday and Sunday. Comments held for moderation outside of those hours may take longer to approve. Please sign into your Press Herald account to participate in conversations below. If you do not have an account, you can register or subscribe . Questions? Please see our FAQs . Your commenting screen name has been updated. Send questions/comments to the editors. « PreviousPresident-elect Donald Trump on Friday named Oregon Rep. Lori Chavez-DeRemer to lead the Department of Labor in his second administration, elevating a Republican congresswoman who has strong support from unions in her district but lost reelection in November. Chavez-DeRemer will have to be confirmed by the Senate, which will be under Republican control when Trump takes office on Jan. 20, 2025, and can formally send nominations to Capitol Hill. Here are things to know about the labor secretary-designate, the agency she would lead if she wins Senate approval and how she could matter to Trump’s encore presidency. Chavez-DeRemer is a one-term congresswoman, having lost reelection in her competitive Oregon district earlier this month. But in her short stint on Capitol Hill she has established a clear record on workers’ rights and organized labor issues that belie the Republican Party’s usual alliances with business interests. She was an enthusiastic back of the PRO Act, legislation that would make it easier to unionize on a federal level. The bill, one of Democratic President Joe Biden’s top legislative priorities, passed the House during Biden’s first two years in office, when Democrats controlled the chamber. But it never had a chance of attracting enough Republican senators to reach the 60 votes required to avoid a filibuster in the Senate. Chavez-DeRemer also co-sponsored another piece of legislation that would protect public-sector workers from having their Social Security benefits docked because of government pension benefits. That proposal also has lingered for a lack of GOP support. Chavez-DeRemer may give labor plenty to like, but union leaders are not necessarily cheering yet. Many of them still do not trust Trump. The president-elect certainly has styled himself as a friend of the working class. His bond with blue-collar, non-college educated Americans is a core part of his political identity and helped him chip away at Democrats’ historical electoral advantage in households with unionized workers. But he was also the president who chose business-friendly appointees to the National Labor Relations Board during his 2017-21 term and generally has backed policies that would make it harder for workers to unionize. He criticized union bosses on the campaign trail, and at one point suggested members of the United Auto Workers should not pay their dues. His administration did expand overtime eligibility rules, but not nearly as much as Democrats wanted, and a Trump-appointed judge has since struck down the Biden administration’s more generous overtime rules. And though Trump distanced himself from the Heritage Foundation’s Project 2025 during the campaign, he has since his victory warmed to some of the people involved in that conservative blueprint that, broadly speaking, would tilt power in the workplace even more toward employers and corporations. Among other ideas, the plan also would curb enforcement of workplace safety regulations. After Trump’s announcement Friday, National Education Association President Becky Pringle lauded Chavez-DeRemer’s House record but sounded a note of caution. “Educators and working families across the nation will be watching ... as she moves through the confirmation process,” Pringle said in a statement, “and hope to hear a pledge from her to continue to stand up for workers and students as her record suggests, not blind loyalty to the Project 2025 agenda.” AFL-CIO President Liz Shuler praised Chavez-DeRemer’s “pro-labor record in Congress,” but said “it remains to be seen what she will be permitted to do as Secretary of Labor in an administration with a dramatically anti-worker agenda.” Labor is another executive department that often operates away from the spotlight. But Trump’s emphasis on the working class could intensify attention on the department, especially in an administration replete with tremendously wealthy leaders, including the president-elect. Trump took implicit aim at the department’s historically uncontroversial role of maintaining labor statistics, arguing that Biden’s administration manipulated calculations of unemployment and the workforce. If she is confirmed, Chavez-DeRemer could find herself standing between the nonpartisan bureaucrats at the Bureau of Labor Statistics and a president with strong opinions about government stats and what they say about the state of the economy — and the White House’s stewardship. Her handling of overtime rules also would be scrutinized, and she could find herself pulled into whatever becomes of Trump’s promise to launch the largest deportation force in U.S. history, potentially pitting Trump’s administration against economic sectors and companies that depend heavily on immigrant labor. Chavez-DeRemer was the first Republican woman elected to Congress from Oregon. She joins Secretary of State-designate Marco Rubio, the Florida senator, as the second Latino pick for Trump’s second Cabinet. Trump’s first labor secretary, Alexander Acosta, also was Latino.
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NEW YORK (AP) — No ex-president had a more prolific and diverse publishing career than Jimmy Carter . His more than two dozen books included nonfiction, poetry, fiction, religious meditations and a children’s story. His memoir “An Hour Before Daylight” was a Pulitzer Prize finalist in 2002, while his 2006 best-seller “Palestine: Peace Not Apartheid” stirred a fierce debate by likening Israel’s policies in the West Bank to the brutal South African system of racial segregation. And just before his 100th birthday, the Dayton Literary Peace Prize Foundation honored him with a lifetime achievement award for how he wielded “the power of the written word to foster peace, social justice, and global understanding.” In one recent work, “A Full Life,” Carter observed that he “enjoyed writing” and that his books “provided a much-needed source of income.” But some projects were easier than others. “Everything to Gain,” a 1987 collaboration with his wife, Rosalynn, turned into the “worst threat we ever experienced in our marriage,” an intractable standoff for the facilitator of the Camp David accords and winner of the Nobel Peace Prize. According to Carter, Rosalynn was a meticulous author who considered “the resulting sentences as though they have come down from Mount Sinai, carved into stone.” Their memories differed on various events and they fell into “constant arguments.” They were ready to abandon the book and return the advance, until their editor persuaded them to simply divide any disputed passages between them. “In the book, each of these paragraphs is identified by a ‘J’ or an ‘R,’ and our marriage survived,” he wrote. Here is a partial list of books by Carter: “Keeping Faith: Memoirs of a President” “The Blood of Abraham: Insights into the Middle East” (With Rosalynn Carter) “Everything to Gain: Making the Most of the Rest of Your Life” “An Outdoor Journal: Adventures and Reflections” “Turning Point: A Candidate, a State, and a Nation Come of Age” “Always a Reckoning, and Other Poems” (With daughter Amy Carter) “The Little Baby Snoogle-Fleejer” “Living Faith” “The Virtues of Aging” “An Hour Before Daylight: Memories of a Rural Boyhood” “Christmas in Plains: Memories” “The Hornet’s Nest: A Novel of the Revolutionary War” “Our Endangered Values: America’s Moral Crisis” “Faith & Freedom: The Christian Challenge for the World” “Palestine: Peace Not Apartheid” “A Remarkable Mother” “Beyond the White House” “We Can Have Peace in the Holy Land: A Plan That Will Work” “White House Diary” “NIV Lessons from Life Bible: Personal Reflections with Jimmy Carter” “A Call to Action: Women, Religion, Violence, and Power” “A Full Life: Reflections at Ninety”
Natixis Advisors LLC lifted its holdings in shares of SPDR S&P Dividend ETF ( NYSEARCA:SDY – Free Report ) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 28,194 shares of the company’s stock after buying an additional 5,324 shares during the period. Natixis Advisors LLC’s holdings in SPDR S&P Dividend ETF were worth $4,005,000 as of its most recent SEC filing. A number of other hedge funds have also recently modified their holdings of SDY. Joel Isaacson & Co. LLC lifted its position in SPDR S&P Dividend ETF by 1.2% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,461,997 shares of the company’s stock worth $349,702,000 after acquiring an additional 30,381 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of SPDR S&P Dividend ETF by 13,497.7% during the third quarter. International Assets Investment Management LLC now owns 1,174,296 shares of the company’s stock worth $166,797,000 after purchasing an additional 1,165,660 shares during the period. Cetera Investment Advisers grew its position in SPDR S&P Dividend ETF by 283.2% in the 1st quarter. Cetera Investment Advisers now owns 688,750 shares of the company’s stock valued at $90,392,000 after buying an additional 509,007 shares during the last quarter. Creative Planning grew its position in SPDR S&P Dividend ETF by 1.1% in the 2nd quarter. Creative Planning now owns 461,739 shares of the company’s stock valued at $58,724,000 after buying an additional 4,963 shares during the last quarter. Finally, Elk River Wealth Management LLC grew its holdings in SPDR S&P Dividend ETF by 2.2% during the third quarter. Elk River Wealth Management LLC now owns 385,024 shares of the company’s stock worth $54,690,000 after acquiring an additional 8,194 shares during the period. SPDR S&P Dividend ETF Stock Up 0.7 % NYSEARCA:SDY opened at $142.31 on Friday. The firm’s fifty day simple moving average is $140.83 and its 200-day simple moving average is $135.19. The stock has a market cap of $22.51 billion, a PE ratio of 19.72 and a beta of 0.68. SPDR S&P Dividend ETF has a fifty-two week low of $118.33 and a fifty-two week high of $144.06. SPDR S&P Dividend ETF Company Profile The SPDR S&P Dividend ETF seeks to closely match the returns and characteristics of the S&P High Yield Dividend Aristocrats Index (the Index). The Index is designed to measure the performance of the 60 highest dividend yielding S&P Composite 1500 Index constituents that have followed a managed-dividends policy of consistently increasing dividends every year for at least 25 consecutive years. Read More Want to see what other hedge funds are holding SDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR S&P Dividend ETF ( NYSEARCA:SDY – Free Report ). Receive News & Ratings for SPDR S&P Dividend ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR S&P Dividend ETF and related companies with MarketBeat.com's FREE daily email newsletter .Insurgents reach gates of Syria’s capital, threatening to upend decades of Assad rule BEIRUT (AP) — A Syrian opposition war monitor and a pro-government media outlet say government forces have withdrawn from much of the central city of Homs. The pro-government Sham FM reported that government forces took positions outside Syria’s third-largest city, without elaborating. Rami Abdurrahman who heads the Britain-based Syrian Observatory for Human Rights, said Syrian troops and members of different security agencies have withdrawn from the city, adding that rebels have entered parts of it. Losing Homs is a potentially crippling blow for Syria’s embattled leader, Bashar Assad. An archbishop's knock formally restores Notre Dame to life as winds howl and heads of state look on PARIS (AP) — France’s iconic Notre Dame Cathedral has formally reopened its doors for the first time since a devastating fire nearly destroyed the 861-year-old landmark in 2019. The five-year restoration is widely seen as a boost for French President Emmanuel Macron, who championed the ambitious timeline, and brings a welcome respite from his domestic political woes. World leaders, dignitaries, and worshippers gathered on Saturday evening for the celebrations under the cathedral's soaring arches. The celebration was attended by 1,500 dignitaries, including President-elect Donald Trump, Britain’s Prince William, and Ukrainian President Volodymyr Zelenskyy. For Catholics, Notre Dame’s rector said the cathedral “carries the enveloping presence of the Virgin Mary, a maternal and embracing presence.′′ Trump is welcomed by Macron to Paris with presidential pomp and joined by Zelenskyy for their talks PARIS (AP) — French President Emmanuel Macron has welcomed Donald Trump to Paris with a full dose of presidential pomp. And they held a hastily arranged meeting with Ukraine’s Volodymyr Zelenskyy on a day that's mixing pageantry with attention to pressing global problems. The president-elect's visit to France is part of a global a celebration of the reopening of Notre Dame Cathedral five years after a devastating fire. Macron and other European leaders are trying to win Trump’s favor and persuade him to maintain support for Ukraine in its defense against Russia’s invasion. Trump isn't back in office but he's already pushing his agenda and negotiating with world leaders NEW YORK (AP) — Donald Trump is making threats, traveling abroad, and negotiating with world leaders. He has more than a month-and-a-half to go before he’s sworn in for a second term. But the president-elect is already moving aggressively to not only fill his Cabinet and outline policy goals, but also to try to achieve his priorities. In recent days, Trump has threatened to impose a 25% tariff on goods from Canada and Mexico, two of the country’s largest trading partners. That led to emergency calls and a visit. And he's warned of “ALL HELL TO PAY” if Hamas doesn't release the hostages still being held captive in Gaza. South Korea's president avoids an impeachment attempt over short-lived martial law SEOUL, South Korea (AP) — South Korea’s embattled President Yoon Suk Yeol has avoided an opposition-led attempt to impeach him over his short-lived imposition of martial law. Most of Yoon's ruling party lawmakers boycotted a parliamentary vote Saturday to deny a two-thirds majority needed to suspend his presidential powers. The scrapping of the motion is expected to intensify protests calling for Yoon’s ouster and deepen political chaos in South Korea. A survey suggests a majority of South Koreans support the president’s impeachment. Yoon’s martial law declaration drew criticism from his own ruling conservative People Power Party. But the party also apparently fears losing the presidency to liberals. Days after gunman killed UnitedHealthcare's CEO, police push to ID him and FBI offers reward NEW YORK (AP) — Nearly four days after the shooting of UnitedHealthcare CEO Brian Thompson, police still do not know the gunman’s name or whereabouts or have a motive for the killing. But they have made some progress in their investigation into Wednesday's killing of the leader of the largest U.S. health insurer, including that the gunman likely left New York City on a bus soon after fleeing the scene. The also found that the gunman left something behind: a backpack that was discovered in Central Park. Police are working with the FBI, which on Friday night announced a $50,000 reward for information leading to an arrest and conviction. UnitedHealthcare CEO's shooting opens a door for many to vent frustrations over insurance The fatal shooting of UnitedHealthcare's CEO has opened the door for many people to vent their frustrations and anger over the insurance industry. The feelings of exasperation, anger, resentment, and helplessness toward insurers aren’t new. But the shooting and the headlines around it have unleashed a new wave of patients sharing such sentiments and personal stories of interactions with insurance companies. Conversations at dinner tables, office water coolers, social gatherings and on social media have pivoted to the topic. Many say they hope the new amplified voices can bring about change for companies often accused of valuing profits over people. 2 Pearl Harbor survivors, ages 104 and 102, return to Hawaii to honor those killed in 1941 attack PEARL HARBOR, Hawaii (AP) — The bombing of Pearl Harbor 83 years ago launched the United States into World War II. Two survivors have returned to the Hawaii military base for a remembrance ceremony on the attack's anniversary. Both are over 100 years old. They joined active-duty troops, veterans and members of the public for an observance hosted by the Navy and the National Park Service. A third survivor was planning to join them but had to cancel due to health issues. The bombing killed more than 2,300 U.S. servicemen. An explosion destroys an apartment block in a Dutch city, killing at least 3 and injuring others THE HAGUE, Netherlands (AP) — An explosion and fire has rocked a neighborhood in the Dutch city of The Hague, killing three people and injuring other people and destroying several apartments. The cause of the disaster is unclear. Emergency authorities said four people were rescued from the rubble and taken to the hospital. The mayor said rescuers were no longer looking for survivors but for eventual bodies, but could not specify how many people might still be unaccounted for. Residents of the northeastern neighborhood of Mariahoeve in The Hague heard a huge bang and screams before dawn. Dutch authorities have deployed a specialized urban search and rescue team to find victims. How 'Mufasa' rose with Aaron Pierre and Blue Ivy's voices along with new Lin-Manuel Miranda music SAN DIEGO (AP) — When Aaron Pierre was cast as Mufasa, the weight of following in the late James Earl Jones’ legendary footsteps was enough to rattle any actor. But instead of letting the pressure roar too loudly, he harnessed his nerves to breathe fresh life into his young lion character. Pierre found parallels between himself and his character while filming his leading role in “Mufasa: The Lion King,” which opens in theaters Dec. 20. He took the reigns as the new voice of Mufasa after Jones played the iconic King Mufasa in both the 1994 and 2019 versions of Disney’s “The Lion King.” The prequel offers a fresh exploration into Mufasa’s origin story.
Pack come up short on the roadARLINGTON, Va., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), a global market leader delivering intelligent energy storage, operational services, and asset optimization software, today announced its results for the three months and full fiscal year ended September 30, 2024. Fiscal Year 2024 Financial Highlights Record revenue for fiscal year 2024 of approximately $2.7 billion and revenue for the fourth quarter of approximately $1.2 billion, representing an increase of approximately 22% from fiscal year 2023 and an increase of approximately 82% from the same quarter last year, respectively. GAAP gross profit margin improved to approximately 12.6% and 12.8% for fiscal year 2024 and the fourth quarter, respectively, compared to approximately 6.4% and 11.3% for fiscal year 2023 and the same quarter last year, respectively, reflecting the Company's continued focus on ongoing profit improvement strategies. Net income of approximately $30.4 million and $67.7 million for fiscal year 2024 and the fourth quarter, respectively, improved from a net loss of approximately $104.8 million and net income of approximately $4.8 million, for fiscal year 2023 and the same quarter last year, respectively. Adjusted EBITDA 1 of approximately $78.1 million and $86.9 million for fiscal year 2024 and the fourth quarter, respectively, improved from approximately negative $61.4 million and $19.8 million for fiscal year 2023 and the same quarter last year, respectively. Quarterly order intake of approximately $1.2 billion, compared to approximately $737 million for the same quarter last year. Backlog 2 increased to approximately $4.5 billion as of September 30, 2024, compared to approximately $2.9 billion as of September 30, 2023. Financial Position Total Cash 3 of approximately $518.7 million as of September 30, 2024, representing an increase of approximately $56.0 million from September 30, 2023. Net cash provided by operating activities was approximately $79.7 million, compared to approximately negative $111.9 million for fiscal year 2023. Free cash flow 1 was approximately $71.6 million, compared to approximately negative $114.9 million for fiscal year 2023. Fiscal Year 2025 Outlook The Company is initiating fiscal year 2025 guidance as follows: Revenue of approximately $3.6 billion to $4.4 billion with a midpoint of $4.0 billion. Presently, approximately 65% of the midpoint of the Company's revenue guidance is covered by the Company's current backlog, in line with our fiscal 2024 revenue coverage at the same time period last year. Adjusted EBITDA 4 of approximately $160 million to $200 million with a midpoint of $180 million. Annual recurring revenue ("ARR") of about $145 million by the end of fiscal year 2025. The foregoing Fiscal Year 2025 Outlook statements represent management's current best estimate as of the date of this release. Actual results may differ materially depending on a number of factors. Investors are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release. Management does not assume any obligation to update these estimates. "Our record financial results for 2024 are a testament to our team's dedication, operational efficiency, and commitment to delivering value to our stakeholders as we achieved our highest ever revenue and profitability, marking a significant milestone in the Company's growth trajectory. Furthermore, we had our second consecutive quarter of signing more than $1 billion of new orders, which brought our backlog to $4.5 billion, underscoring the market's strong confidence in our energy storage solutions," said Julian Nebreda, the Company’s President and Chief Executive Officer. "As we look forward, we see unprecedented demand for battery energy storage solutions across the world, driven principally by the U.S. market. We believe we are well positioned to continue capturing this market with our best-in-class domestic content offering which utilizes U.S. manufactured battery cells." "We are pleased with our strong fiscal year-end performance, achieving record revenue growth, robust margin expansion and free cash flow. We also generated positive net income for the first time," said Ahmed Pasha, Chief Financial Officer. "With backlog and development pipeline at record levels, we enter fiscal 2025 poised for sustained profitable growth." Share Count The shares of the Company’s common stock as of September 30, 2024 are presented below: Conference Call Information The Company will conduct a teleconference starting at 8:30 a.m. EST on Tuesday, November 26, 2024, to discuss the fourth quarter and full fiscal year 2024 financial results. To participate, analysts are required to register by clicking Fluence Energy Inc. Q4 Earnings Call Registration Link . Once registered, analysts will be issued a unique PIN number and dial-in number. Analysts are encouraged to register at least 15 minutes before the scheduled start time. General audience participants, and non-analysts are encouraged to join the teleconference in a listen-only mode at: Fluence Energy Inc. Q4 Listen Only - Webcast , or on http://fluenceenergy.com by selecting Investors, News & Events, and Events & Presentations. Supplemental materials that may be referenced during the teleconference will be available at: http://fluenceenergy.com, by selecting Investors, News & Events, and Events & Presentations. A replay of the conference call will be available after 1:00 p.m. EST on Tuesday, November 26, 2024. The replay will be available on the Company’s website at http://fluenceenergy.com by selecting Investors, News & Events, and Events & Presentations. Non-GAAP Financial Measures We present our operating results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). We believe certain financial measures, such as Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Profit Margin, and Free Cash Flow, which are non-GAAP measures, provide users of our financial statements with supplemental information that may be useful in evaluating our operating performance. We believe that such non-GAAP measures, when read in conjunction with our operating results presented under GAAP, can be used to better assess our performance from period to period and relative to performance of other companies in our industry, without regard to financing methods, historical cost basis or capital structure. Such non-GAAP measures should be considered as a supplement to, and not as a substitute for, financial measures prepared in accordance with GAAP. These measures have limitations as analytical tools, including that other companies, including companies in our industry, may calculate these measures differently, reducing their usefulness as comparative measures. Adjusted EBITDA is calculated from the consolidated statements of operations using net income (loss) adjusted for (i) interest income, net, (ii) income taxes, (iii) depreciation and amortization, (iv) stock-based compensation, and (v) other non-recurring income or expenses. Adjusted EBITDA also includes amounts impacting net income related to estimated payments due to related parties pursuant to the Tax Receivable Agreement, dated October 27, 2021, by and among Fluence Energy, Inc., Fluence Energy, LLC, Siemens Industry, Inc. and AES Grid Stability, LLC (the “Tax Receivable Agreement”). Adjusted Gross Profit is calculated using gross profit, adjusted to exclude (i) stock-based compensation expenses, (ii) amortization, and (iii) other non-recurring income or expenses. Adjusted Gross Profit Margin is calculated using Adjusted Gross Profit divided by total revenue. Free Cash Flow is calculated from the consolidated statements of cash flows and is defined as net cash provided by (used in) operating activities, less purchase of property and equipment made in the period. We expect our Free Cash Flow to fluctuate in future periods as we invest in our business to support our plans for growth. Limitations on the use of Free Cash Flow include (i) it should not be inferred that the entire Free Cash Flow amount is available for discretionary expenditures (for example, cash is still required to satisfy other working capital needs, including short-term investment policy, restricted cash, and intangible assets); (ii) Free Cash Flow has limitations as an analytical tool, and it should not be considered in isolation or as a substitute for analysis of other GAAP financial measures, such as net cash provided by operating activities; and (iii) this metric does not reflect our future contractual commitments. Please refer to the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures included in this press release and the accompanying tables contained at the end of this release. The Company is not able to provide a quantitative reconciliation of full fiscal year 2025 Adjusted EBITDA to GAAP Net Income (Loss) on a forward-looking basis within this press release because of the uncertainty around certain items that may impact Adjusted EBITDA, including stock compensation and restructuring expenses, that are not within our control or cannot be reasonably predicted without unreasonable effort. About Fluence Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. The Company's solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of projects successfully contracted, deployed and under management across nearly 50 markets, the Company is transforming the way we power our world for a more sustainable future. For more information, visit our website, or follow us on LinkedIn or X. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog. Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release and statements that are made on our earnings call that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements set forth above under “Fiscal Year 2025 Outlook,” and other statements regarding the Company's future financial and operational performance, future market and industry growth and related opportunities for the Company, anticipated Company growth and business strategy, including future incremental working capital and capital opportunities, liquidity and access to capital and cash flows, demand for electricity and impact to energy storage, demand for the Company's energy storage solutions, services, and digital applications offerings, our positioning to capture market share with domestic content offering and future offerings, expected impact and benefits from the Inflation Reduction Act of 2022 and U.S. Treasury domestic content guidelines on us and on our customers, anticipated timeline of U.S. battery module production and timing of our domestic content offering, expectations relating to our contracting manufacturing capacity, potential impact to tariffs, related policies, and regulations from the change in political administration, new products and solutions and product innovation, relationships with new and existing customers and suppliers, expectations relating to backlog, pipeline, and contracted backlog, future revenue recognition, future results of operations, future capital expenditures and debt service obligations, and projected costs, beliefs, assumptions, prospects, plans and objectives of management. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” "commits", “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, our relatively limited operating and revenue history as an independent entity and the nascent clean energy industry; anticipated increasing expenses in the future and our ability to maintain prolonged profitability; fluctuations of our order intake and results of operations across fiscal periods; potential difficulties in maintaining manufacturing capacity and establishing expected mass manufacturing capacity in the future; risks relating to delays, disruptions, and quality control problems in our manufacturing operations; risks relating to quality and quantity of components provided by suppliers; risks relating to our status as a relatively low-volume purchaser as well as from supplier concentration and limited supplier capacity; risks relating to operating as a global company with a global supply chain; changes in the global trade environment; changes in the cost and availability of raw materials and underlying components; failure by manufacturers, vendors, and suppliers to use ethical business practices and comply with applicable laws and regulations; significant reduction in pricing or order volume or loss of one or more of our significant customers or their inability to perform under their contracts; risks relating to competition for our offerings and our ability to attract new customers and retain existing customers; ability to maintain and enhance our reputation and brand recognition; ability to effectively manage our recent and future growth and expansion of our business and operations; our growth depends in part on the success of our relationships with third parties; ability to attract and retain highly qualified personnel; risks associated with engineering and construction, utility interconnection, commissioning and installation of our energy storage solutions and products, cost overruns, and delays; risks relating to lengthy sales and installation cycle for our energy storage solutions; risks related to defects, errors, vulnerabilities and/or bugs in our products and technology; risks relating to estimation uncertainty related to our product warranties; fluctuations in currency exchange rates; risks related to our current and planned foreign operations; amounts included in our pipeline and contracted backlog may not result in actual revenue or translate into profits; risks related to acquisitions we have made or that we may pursue; events and incidents relating to storage, delivery, installation, operation, maintenance and shutdowns of our products; risks relating to our impacts to our customer relationships due to events and incidents during the project lifecycle of an energy storage solution; actual or threatened health epidemics, pandemics or similar public health threats; ability to obtain financial assurances for our projects; risks relating to whether renewable energy technologies are suitable for widespread adoption or if sufficient demand for our offerings do not develop or takes longer to develop than we anticipate; estimates on size of our total addressable market; risks relating to the cost of electricity available from alternative sources; macroeconomic uncertainty and market conditions; risk relating to interest rates or a reduction in the availability of tax equity or project debt capital in the global financial markets and corresponding effects on customers’ ability to finance energy storage systems and demand for our energy storage solutions; decline in public acceptance of renewable energy, or delay, prevent, or increase in the cost of customer projects; severe weather events; increased attention to ESG matters; restrictions set forth in our current credit agreement and future debt agreements; uncertain ability to raise additional capital to execute on business opportunities; ability to obtain, maintain and enforce proper protection for our intellectual property, including our technology; threat of lawsuits by third parties alleging intellectual property violations; adequate protection for our trademarks and trade names; ability to enforce our intellectual property rights; risks relating to our patent portfolio; ability to effectively protect data integrity of our technology infrastructure and other business systems; use of open-source software; failure to comply with third party license or technology agreements; inability to license rights to use technologies on reasonable terms; risks relating to compromises, interruptions, or shutdowns of our systems; barriers arising from current electric utility industry policies and regulations and any subsequent changes; reduction, elimination, or expiration of government incentives or regulations regarding renewable energy; potential changes in tax laws or regulations; risks relating to environmental, health, and safety laws and potential obligations, liabilities and costs thereunder; failure to comply with data privacy and data security laws, regulations and industry standards; risks relating to potential future legal proceedings, regulatory disputes, and governmental inquiries; risks related to ownership of our Class A common stock; risks related to us being a “controlled company” within the meaning of the NASDAQ rules; risks relating to the terms of our amended and restated certificate of incorporation and amended and restated bylaws; risks relating to our relationship with our Founders and Continuing Equity Owners; risks relating to conflicts of interest by our officers and directors due to positions with Continuing Equity Owners; risks related to short-seller activists; we depend on distributions from Fluence Energy, LLC to pay our taxes and expenses and Fluence Energy, LLC’s ability to make such distributions may be limited or restricted in certain scenarios; risks arising out of the Tax Receivable Agreement; unanticipated changes in effective tax rates or adverse outcomes resulting from examination of tax returns; risks relating to improper and ineffective internal control over reporting to comply with Sarbanes-Oxley Act; risks relating to changes in accounting principles or their applicability to us; risks relating to estimates or judgments relating to our critical accounting policies; and other factors set forth under Item 1A.“Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024, to be filed with the Securities and Exchange Commission (“SEC”), and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. Accounts payable with related parties of $2.5 million and Accruals with related parties of $3.7 million as of September 30, 2023, were reclassified from Deferred revenue and payables with related parties to Accounts payable and Accruals and provisions, respectively, on the consolidated balance sheet. The reclassification had no impact on the total current liabilities for any period presented. Corresponding reclassifications were also reflected on the consolidated statement of cash flows for the fiscal year ended September 30, 2023 and 2022. The reclassifications had no impact on cash provided by (used in) operations for the period presented. Provision on loss contracts, net of $6.1 million and $30.0 million for the fiscal years ended September 30, 2023 and 2022, respectively, was reclassified to current accruals and provisions on the consolidated statement of cash flows. The reclassification had no impact on cash provided by (used in) operations for the period presented. The following tables present our key operating metrics for the fiscal years ended September 30, 2024 and 2023. The tables below present the metrics in either Gigawatts (GW) or Gigawatt hours (GWh). Our key operating metrics focus on project milestones to measure our performance and designate each project as either “deployed”, “assets under management”, “contracted backlog”, or “pipeline”. The following table presents our order intake for the three months and fiscal years ended September 30, 2024 and 2023. The table is presented in Gigawatts (GW): Deployed Deployed represents cumulative energy storage products and solutions that have achieved substantial completion and are not decommissioned. Deployed is monitored by management to measure our performance towards achieving project milestones. Assets Under Management Assets under management for service contracts represents our long-term service contracts with customers associated with our completed energy storage system products and solutions. We start providing maintenance, monitoring, or other operational services after the storage product projects are completed. In some cases, services may be commenced for energy storage solutions prior to achievement of substantial completion. This is not limited to energy storage solutions delivered by Fluence. Assets under management for digital software represents contracts signed and active (post go live). Assets under management serves as an indicator of expected revenue from our customers and assists management in forecasting our expected financial performance. Contracted Backlog For our energy storage products and solutions contracts, contracted backlog includes signed customer orders or contracts under execution prior to when substantial completion is achieved. For service contracts, contracted backlog includes signed service agreements associated with our storage product projects that have not been completed and the associated service has not started. For digital applications contracts, contracted backlog includes signed agreements where the associated subscription has not started. We cannot guarantee that our contracted backlog will result in actual revenue in the originally anticipated period or at all. Contracted backlog may not generate margins equal to our historical operating results. We have only recently begun to track our contracted backlog on a consistent basis as performance measures, and as a result, we do not have significant experience in determining the level of realization that we will achieve on these contracts. Our customers may experience project delays or cancel orders as a result of external market factors and economic or other factors beyond our control. If our contracted backlog fails to result in revenue as anticipated or in a timely manner, we could experience a reduction in revenue, profitability, and liquidity. Contracted/Order Intake Contracted, which we use interchangeably with “order intake”, represents new energy storage product and solutions contracts, new service contracts and new digital contracts signed during each period presented. We define “Contracted” as a firm and binding purchase order, letter of award, change order or other signed contract (in each case an “Order”) from the customer that is received and accepted by Fluence. Our order intake is intended to convey the dollar amount and gigawatts (operating measure) contracted in the period presented. We believe that order intake provides useful information to investors and management because the order intake provides visibility into future revenue and enables evaluation of the effectiveness of the Company’s sales activity and the attractiveness of its offerings in the market. Pipeline Pipeline represents our uncontracted, potential revenue from energy storage products and solutions, service, and digital software contracts, which have a reasonable likelihood of contract execution within 24 months. Pipeline is an internal management metric that we construct from market information reported by our global sales force. Pipeline is monitored by management to understand the anticipated growth of our Company and our estimated future revenue related to customer contracts for our battery-based energy storage products and solutions, services and digital software. We cannot guarantee that our pipeline will result in actual revenue in the originally anticipated period or at all. Pipeline may not generate margins equal to our historical operating results. We have only recently begun to track our pipeline on a consistent basis as performance measures, and as a result, we do not have significant experience in determining the level of realization that we will achieve on these contracts. Our customers may experience project delays or cancel orders as a result of external market factors and economic or other factors beyond our control. If our pipeline fails to result in revenue as anticipated or in a timely manner, we could experience a reduction in revenue, profitability, and liquidity. Annual Recurring Revenue (ARR) ARR represents the net annualized contracted value including software subscriptions including initial trial, licensing, long term service agreements, and extended warranty agreements as of the reporting period. ARR excludes one-time fees, revenue share or other revenue that is non-recurring and variable. The Company believes ARR is an important operating metric as it provides visibility to future revenue. It is important to management to increase this visibility as we continue to expand. ARR is not a forecast of future revenue and should be viewed independently of revenue and deferred revenue as ARR is an operating metric and is not intended to replace these items. The following tables present our non-GAAP measures for the periods indicated. ____________________________ 1 Non-GAAP Financial Metric. See the section below titled “Non-GAAP Financial Measures” for more information regarding the Company's use of non-GAAP financial measures, as well as a reconciliation to the most directly comparable financials measure stated in accordance with GAAP. 2 Backlog represents the unrecognized revenue value of our contractual commitments, which include deferred revenue and amounts that will be billed and recognized as revenue in future periods. The Company’s backlog may vary significantly each reporting period based on the timing of major new contractual commitments and the backlog may fluctuate with currency movements. In addition, under certain circumstances, the Company’s customers have the right to terminate contracts or defer the timing of its services and their payments to the Company. 3 Total cash includes Cash and cash equivalents + Restricted Cash + Short term investments.
Oct. 1, 1924: Born James Earl Carter Jr. in Plains, Georgia, eldest of Lillian and James Earl Carter’s four children. 1928: The family moves to a farm in Archery, a largely Black community a few miles from Plains. The shotgun-style house had no running water or electricity when they moved in. June 1941: Jimmy, 16, graduates from Plains High School and briefly attends Georgia Southwestern College and then Georgia Tech, preparing to fulfill his dream of entering the U.S. Naval Academy. June 5, 1946: Graduates from Naval Academy and enters service until 1953. July 7, 1946: Marries Rosalynn Smith. 1953: Returns home to take over the family farming businesses. 1955: First political election victory: chairman of Sumter County Board of Education. 1962: Wins a seat in the state Senate and holds it through 1966. Nov. 3, 1970: Wins Georgia gubernatorial election. Dec. 12, 1974: Announces presidential bid, prompting the response, “Jimmy Who?” Nov. 2, 1976: Defeats Gerald Ford for presidency. Jan. 20, 1977: Sets the tone of his administration by walking from the Capitol to the White House after swearing-in. June 16, 1978: Signs Panama Canal treaties to transfer control of the canal to Panama. Aug. 15, 1978: Signs legislation designating the Chattahoochee River National Recreation Area. Sept. 17, 1978: Brings Israeli Prime Minister Menachem Begin and Egyptian President Anwar Sadat together to sign the Camp David Accords. Nov. 4, 1979: Iranians take 66 Americans hostage at U.S. Embassy in Tehran. January 1980: Following the Soviet Union’s invasion of Afghanistan in late December 1979, Carter decides U.S. athletes will not attend the 1980 Summer Olympics in Moscow. April 17, 1980: Carter announces that an economic recession has begun. April 25, 1980: Helicopter mission to rescue Iranian hostages fails. Nov. 4, 1980: Loses presidential election to Ronald Reagan. Jan. 20, 1981: Minutes after Reagan becomes president, hostages are released from Iranian soil. September 1984: The Carters donate a week of their time to build Habitat for Humanity houses. It turns into the annual Jimmy Carter Work Project. October 1984: Groundbreaking for the Carter Center in Atlanta. It opens two years later. 1987: Carter Center’s Global 2000 project joins the fight against Guinea worm disease, a parasitic affliction attacking millions of people a year in developing countries. May 7, 1989: Carter through the Carter Center monitors fairness of Panama’s elections, a role he would repeat in Nicaragua (February 1990), Haiti (December 1990), Guyana (1992, 2001), Paraguay (1993), Venezuela (1998), Peru (2001) and more than 100 other countries. Oct. 25, 1991: Announces the Atlanta Project to tackle inner-city problems. June 1994: Plays key role in nuclear disarmament talks in North Korea. Sept. 17, 1994: Heads delegation to Haiti that arranges terms to avoid U.S. invasion and return President Jean-Bertrand Aristide to power. Oct. 1, 1996: National Park Service opens Carter museum in the former Plains High School on his 72nd birthday. April 3, 1998: At the seventh and final African Conference on Guinea Worm Eradication, Carter is knighted by Mali for his successful efforts to drastically reduce the number of cases worldwide. August 1999: The Carter Center turns the Atlanta Project program over to Georgia State University’s Neighborhood Partnership Resource Collaborative. Aug. 9, 1999: Awarded Presidential Medal of Freedom along with Rosalynn. Oct. 19, 2000: Announces that he and Rosalynn no longer will be members of the Southern Baptist Convention, which he believes has grown too “rigid.” May 12-17, 2002: Visits Cuba with Rosalynn and Carter Center members. Makes a speech on Cuban television in which he calls for democratic reforms in Cuba and an end to the U.S. trade embargo. Oct. 11, 2002: Wins the 2002 Nobel Peace Prize. He later donates $370,000 of his $1 million award to the Rosalynn Carter Institute for Human Development at Georgia Southwestern State University. May 2003: Works behind the scenes on the Georgia state flag change to stave off a statewide referendum on the Rebel battle emblem. Jan. 25, 2004: Travels to Venezuela to meet with President Hugo Chavez, opposition leaders and others in the politically divided nation of 24 million. June 5, 2004: Christens the USS Jimmy Carter, the Navy’s latest nuclear vessel, a $3.3 billion submarine. July 26, 2004: Delivers a stinging condemnation of the Bush administration addressing the Democratic National Convention, saying the “nation’s soul” is at stake in the November election. August 2004: Leads the team monitoring the vote to recall Venezuelan President Hugo Chavez. Sept. 7, 2004: Blasts fellow Georgian and former Gov. Zell Miller in a two-page letter for his “rabid and mean-spirited speech” to the Republican National Convention in New York. Sept. 27, 2004: Harshly accuses Florida officials of not doing enough to fix their election system following the 2000 presidential election. October 2004: Along with 2,000 volunteers, travels to Puebla, Mexico, as part of the Jimmy Carter Work Project to build 75 houses in one week through Habitat for Humanity. January 2005: Along with the National Democratic Institute, observes election of the new president of the Palestinian Authority, Mahmoud Abbas. June 6, 2005: Declares that the United States should close its prison camp at Guantanamo Bay, Cuba, and that the Bush administration was wrong to say parts of the Geneva Conventions do not apply to at least 520 “enemy combatants” from about 40 countries held there. Oct. 10, 2005: Heads a team of election observers from his center and the National Democratic Institute, another U.S. group, to monitor Liberia’s first presidential election since a 14-year civil war ended. November 2005: His book “Our Endangered Values: America’s Moral Crisis” becomes the quickest-selling of his 20 books to date. In it, he takes aim at fundamentalism, environmental decay, the Iraq War and the Bush administration’s record on human rights. March 22, 2006: Along with co-leader of a bipartisan Commission on Federal Election Reform and former Secretary of State James A. Baker III, announces that states should require voters to show photo IDs and to let them see paper ballots at electronic polling places. May 24, 2006: Praises the Bush administration’s immigration policies but remains sharply critical of its human rights record in the war on terror. June 1, 2006: Toasts Jane Fonda at her celebrity roast at the Georgia Aquarium. November 2006: His book “Palestine: Peace Not Apartheid” draws criticism upon its release. Critics contend he unfairly compared Israeli treatment of Arabs in the West Bank and Gaza to legalized racial oppression that once existed in South Africa. January 2007: 14 Carter Center advisers resign because of the book. August 2007: Jonathan Demme’s documentary “Jimmy Carter Man From Plains” premieres, chronicling Carter’s book tour and the controversy. 2007: Carter joins The Elders, a group of former world political leaders such as Nelson Mandela, who work on promoting peace and human rights. April 18, 2008: Defies U.S. and Israeli warnings to meet with the exiled leader of Hamas and his deputy, two men the U.S. government had labeled terrorists. U.S. officials were critical. Carter said he failed to convince the top Hamas boss to stop rocket attacks on Israel, adding, “I did the best I could.” Oct. 10, 2008: During a stop in Brussels, Carter blames the “atrocious” economic policies of President George W. Bush for the beginning of the Great Recession. Jan. 7, 2009: Joins President-elect Barack Obama, President George W. Bush and former Presidents Bill Clinton and George H.W. Bush at the White House for a historic meeting. Some said the body language during photo ops suggested chilly relations between Carter and the others. June 2009: Carter and a team of observers monitor parliamentary elections in Lebanon, the 76th election monitored by the Carter Center. June 13, 2009: The Palestinian government honors Carter during his visit to the region, and he pledges his “assistance, as long as I live, to win your freedom, your independence, your sovereignty and a good life.” Sept. 14, 2009: Jody Powell dies, a year after Hamilton Jordan succumbed to cancer. The two Georgians were Carter’s closest political advisers. “Jody Powell knows me better than anyone except my wife,” Carter once said. Oct. 1, 2009: Carter Center reopens after an extensive, $10 million renovation. August 2010: Travels to North Korea to secure release of Aijalon Gomes, an American who was accused of crossing the border the previous winter. September 2010: His latest book, “White House Diary,” is based on edited journal entries from his time in the White House. While promoting the book, Carter stirs controversy by saying his post-presidential career was “probably superior” to that of other ex-presidents. He later said he only meant he has had more opportunities to do good works. Jan. 14, 2013: Carter visits Colombia at the request of the country’s president to brief on the peace talks with rebels and other issues. 2013: The Carters’ grandson, Atlanta attorney Jason Carter, decides to leave his state Senate seat to run unsuccessfully for governor in 2014. Jimmy Carter helps campaign. July 31, 2013: Carter visits Colombia, the first Western country to be certified as free from river blindness, for which the Carter Center provided support. August 2014: Carter was joined by another “Elder,” Mary Robinson, during the 2014 Israel-Gaza conflict, with the pair pressing for the inclusion of Hamas as an actor in peace talks with Israel, recognition of the group as a legitimate political entity and the lifting of the siege of Gaza. May 15, 2015: Carter visits Guyana for election monitoring. Aug. 12, 2015: Carter undergoes surgery to remove a mass from his liver and discovers he had cancer. It had spread to his brain. December 2015: Carter announces he is cancer free. July 13, 2017: Carter is admitted to a hospital in Winnipeg, Manitoba, after becoming dehydrated while working outdoors for Habitat for Humanity. He is released the following day. June 2019: Carter calls President Donald Trump “a disaster,” during one of his public addresses in Atlanta, and in Virginia he questioned the legitimacy of Trump’s election because of Russian interference. August 2020: The Carter Center launches a program to strengthen and build confidence in the U.S. election system prior to the presidential election. February 2023: Jimmy Carter enters home hospice care in Plains. Nov. 19, 2023: Rosalynn Carter, his wife of 77 years, dies in Plains. She was 96 years old. Oct. 1, 2024: Jimmy Carter turns 100. Dec. 29, 2024: Carter dies at age 100. ©2024 The Atlanta Journal-Constitution. Visit at ajc.com . Distributed by Tribune Content Agency, LLC.Shivakumar attributes Channapatna bypoll victory to ‘direct and indirect’ support from JD(S) and BJP leaders
MONTRÉAL , Nov. 25, 2024 /PRNewswire/ -- Workleap , a leading Canadian software company behind products that empower 20,000 companies in more than 100 countries to build better employee experiences, announces its fall platform release introducing new solutions and integrated features into an all-in-one simple-to-use platform. This release marks a new milestone in Workleap's ongoing commitment to transform the employee experience by empowering HR leaders to drive organizational performance and achieve business goals. Workleap's comprehensive platform helps HR lead organizations to thrive in the modern setting of hybrid, remote, and distributed work environments. The consolidated solution for understanding employee engagement, driving performance, and developing employees is the best add-on to your existing HRIS and HR technology, allowing companies to add simple experiences across the employee lifecycle. Bringing these functions together in one platform, Workleap enables HR professionals to create a more responsive, agile and employee-centric work environment. What's New Why It Matters " Hybrid work has completely reshaped the role of HR. It's no longer just about managing employees—it's about building the right frameworks, fostering authentic connections, and leveraging tools that drive meaningful outcomes," said Simon De Baene , Co-founder and CEO of Workleap. "At Workleap, our mission is clear: make work simpler. The Workleap platform brings together the tools HR teams and leaders need to focus on what matters most—creating workplaces where people feel supported, connected, and empowered to grow. By continuing to invest in our platform, we're accelerating innovation with solutions like Workleap Performance—designed to be simple, effective, and built to keep HR and leaders ahead as the future of work evolves." To learn more about Workleap's employee experience platform, visit workleap.com . About Workleap Workleap is the best add-on to your HRIS to build better employee experiences. The all-in-one Workleap platform empowers organizations to make work simpler by unifying onboarding, engagement, performance, and development —in one platform. Workleap is a Montréal, Canada-based company building the operating system for hybrid work—unifying the experience to streamline talent management and scale productivity tools across 20,000 companies in more than 100 countries. Media Contact Jaclyn Pullen PANBlast for Workleap workleap@panblastpr.com View original content to download multimedia: https://www.prnewswire.com/news-releases/workleap-fall-launch-empowering-hr-leaders-with-new-features-for-employee-growth-and-engagement-302315807.html SOURCE Workleap
Chiefs edge Panthers, Lions rip Colts as Dallas stuns WashingtonNew Delhi: The issue of lateral entry to fill key posts in government departments, which triggered a political row earlier this year over lack of reservation for these positions, will be examined by a parliamentary panel. According to details put out by the Lok Sabha secretariat, lateral entry in civil services is among the subjects selected by the Department-related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice for examination in 2024-25. In August this year, the Union Public Service Commission (UPSC) had advertised 45 posts — 10 of joint secretaries and 35 of directors and deputy secretaries — to be filled through the lateral entry mode on contract basis. The advertisement triggered protests from the Opposition as well as NDA allies like the Lok Janshakti Party (LJP) and Janata Dal (United). Many leaders, including Congress president Mallikarjun Kharge, Leader of Opposition Rahul Gandhi, Bahujan Samaj Party chief Mayawati, and Samajwadi Party’s Akhilesh Yadav slammed the government’s policy for not having reservations for Scheduled Caste (SC), Scheduled Tribe (ST), and Other Backward Classes (OBC) candidates. The government then asked the UPSC to cancel its advertisement. Bureaucrats are usually recruited through the civil services exam process but lateral entrants, typically experts in a particular field, are inducted directly for a limited term. No quota is currently applicable to these appointments. So far, 63 appointments have been made through lateral entry out of which 35 appointments were from the private sector. At present, 57 officers are in positions in ministries/departments, according to the latest data. The lateral recruitment in the central government, has been undertaken since 2018 to appoint persons for specific assignments, keeping in view their specialised knowledge and expertise in the domain area.
Monday, December 30, 2024 Turkiye Tourism in the country reached a new milestone in 2024, as over 50 million international visitors explored its diverse attractions in the first 11 months alone. This figure represents a remarkable 7.1% increase compared to the same period in 2023. The surge underscores the country’s growing appeal as a global travel destination and the effectiveness of its strategic initiatives under the ‘Regional Development and National Strategy’ blueprint. The Industry and Technology Ministry’s strategic blueprint aims to revolutionize tourism by analyzing traveler profiles, preferences, and spending patterns. This data-driven approach is designed to help policymakers and stakeholders tailor experiences to meet the expectations of high-value tourists, while also encouraging domestic travel. Crucially, the plan emphasizes spreading tourism activities evenly throughout the year, reducing the traditional focus on peak seasons. The strategy focuses on identifying regions with untapped potential and developing alternative destinations and activities for both local and international travelers. By diversifying the tourism offering, the government hopes to enhance the industry’s resilience and sustainability. Efforts to diversify tourism will focus on seven primary sectors: gastronomy, health, culture, faith, nature, winter, and cruise tourism. Each sector represents a unique aspect of the country’s rich heritage, geography, and traditions. Prominent provinces such as Istanbul, İzmir, Çanakkale, Nevşehir, Mardin, Şanlıurfa, Bursa, and Kars have been identified as key cultural hubs. These destinations will serve as the backbone for train tours and immersive cultural experiences, allowing travelers to explore ancient ruins, historic landmarks, and vibrant local traditions. From the iconic Hagia Sophia in Istanbul to the stunning fairy chimneys of Cappadocia in Nevşehir, culture tourism promises to captivate the imagination of global visitors. Faith tourism is another cornerstone of the strategy, with efforts centered on promoting sacred sites and religious landmarks. Mosques, churches, synagogues, tombs, and cathedrals are key attractions. Natural wonders such as sacred lakes, mountains, islands, groves, and caves are also being incorporated to enhance the spiritual experience for pilgrims and faith-based travelers. The country’s world-renowned culinary heritage will be leveraged to attract food enthusiasts. Gastronomy tourism initiatives aim to showcase regional cuisines, traditional cooking methods, and vibrant food markets. Culinary festivals and workshops will provide immersive experiences that celebrate the diversity of local flavors. Health tourism will capitalize on the country’s advanced medical infrastructure and natural wellness resources. Visitors seeking medical treatments, spa retreats, and wellness therapies will find an array of options tailored to their needs. Hot springs, thermal baths, and specialized clinics are integral to this offering. Nature tourism is set to highlight the country’s breathtaking landscapes, ranging from lush forests and serene lakes to dramatic mountain ranges and pristine beaches. Eco-tourism initiatives will focus on sustainable travel, encouraging visitors to appreciate and preserve the natural environment. With its snow-covered mountains and state-of-the-art ski resorts, the country aims to become a hub for winter sports enthusiasts. Activities such as skiing, snowboarding, and snowshoeing will be complemented by cozy accommodations and après-ski experiences. The strategic development of cruise tourism is expected to draw maritime travelers to the country’s picturesque ports and coastal regions. Itineraries will include stops at historical cities, idyllic islands, and vibrant coastal towns, offering a unique perspective on the nation’s maritime heritage. Central to the strategy is the analysis of traveler profiles in both domestic and international markets. By understanding the preferences and spending habits of high-value tourists, the government can design targeted campaigns and develop experiences that resonate with their expectations. The ultimate goal is to enhance visitor satisfaction while maximizing economic benefits for local communities. The blueprint aims to uncover hidden gems within the country, offering alternative destinations to alleviate overcrowding at popular sites. This approach not only ensures a more balanced distribution of tourism revenue but also helps preserve the cultural and natural integrity of iconic landmarks. Regions previously overlooked by mainstream tourism will gain prominence, fostering inclusive growth and community development. As the country builds on the momentum of its record-breaking tourism figures in 2024, the strategic focus on diversification and sustainability is expected to yield long-term benefits. By investing in infrastructure, promoting unique experiences, and prioritizing data-driven decision-making, the tourism industry is poised to achieve new heights while preserving its rich cultural and natural heritage for generations to come. The 7.1% rise in tourism in 2024 reflects the success of a forward-thinking strategy designed to attract a diverse range of travelers. Through initiatives spanning gastronomy, health, culture, faith, nature, winter, and cruise tourism, the country is transforming its travel landscape to offer year-round, sustainable experiences. With its sights set on innovation and inclusivity, the future of the nation’s tourism industry looks brighter than ever. Discover everything and anything about travel , tourism , trade shows at the Travel And Tour World , including breaking travel news and weekly travel updates for travel trade , airlines , cruise , railways , technology , travel association , DMCs, and video interviews and promotional videos .The current week brought a new wave of challenges stemming from both international and domestic political conflicts. The Russia-Ukraine conflict intensified after U.S. Democrats approved the use of American arms against Russian territory, potentially in response to Moscow's decision to deploy North Korean soldiers to the Ukrainian frontlines. This move appears to be a last-ditch effort ahead of the planned White House transition in January 2025. The heightened geopolitical tensions, compounded by nuclear threats from President Putin, triggered instability in global markets, including India’s, which was already underperforming. However, the markets regained stability as the situation de-escalated, with no further escalation of the conflict. The domestic political landscape also faced turmoil during the Maharashtra and Jharkhand assembly elections. Historically, state election volatility has had little impact on the medium to long-term trends of the Indian stock market. However, this time, the intensifying rivalry between the BJP and Congress brought the Adani bribery case to the forefront, reported by the U.S. Department of Justice. This added to the market's woes as there was some sign of slowdown in FII selling, which surged again this week. Along with the Adani group, stocks of financials & industrial sectors were also affected. The market showed resilience by the end of the week, signalling that domestic political turmoil is unlikely to have a significant long-term impact on the Indian stock market. However, high exposure of foreign investors in the Adani Group and exposure of PSU financials and banks on the project will have to bear the brunt, before judicial & project feasibility clarity emerge. The legal case in the U.S. is expected to restrict the Adani Group’s access to international funding , evidenced by Adani Green ’s cancellation of a $600 million bond issuance—the second such withdrawal in the last two years. Mockery the strength of the trial depends on the bribery taken in the BJP opposition states. Domestic politics dogfight will be held on the international judiciary. Adani Group was able to recover most of the lost ground done by the Hindenburg report in Jan 2023. However, this time it will be a challenge, as the DoJ has accused after an investigation of 2yrs. The consolidation continued in the market during the week due to weak Q2 results, FII selling, news of reduction in the probability of a FED rate cut in December, and a weak rupee. However, a strong bounce happened by the end of the week due to bottom fishing by domestic investing, including retail. The domestic market was on a sell-off mode in the last 2months, taking it to the oversold territory. The correction in valuation suggests a potential pause in further price erosion, as trading at a 5yr average. However, the pace of recovery will depend on a pick-up in earnings, which is expected to improve due to an anticipated rise in central and state government spending in H2, fuelled by the festival and marriage seasons. Indications are that economic data is likely to improve on a MoM and QoQ basis. Monthly data due to be released by the mid-December could offer fresh insights into the economic outlook. Initial analysis suggests that corporate growth in H2 will be 10 to 12% compared to 6% in H1FY25. Whether it is good enough and to sustain the trend and valuation will depend on that narrative on FY26 earnings outlook.The 21st Annual General Meeting of the Sri Lanka – Russia Business Council of the Ceylon Chamber of Commerce (SLRBC) was held recently at the Cinnamon Grand, Colombo 03. The event was graced by the presence of H.E. Levan Dzhagaryan, Ambassador of the Embassy of the Russian Federation in Sri Lanka, who participated as the Chief Guest, a news release from the chamber said. Delivering his address, H.E. Dzhagaryan highlighted the significant trade, tourism, and cultural collaborations between Sri Lanka and Russia, emphasizing that Russia continues to play a pivotal role in Sri Lanka’s tourism sector and export trade. The keynote speaker, Mr. Mangala Wijesinghe, Chairman and Chief Executive Officer of the Export Development Board, discussed strategies to enhance Sri Lanka’s export potential and foster stronger economic ties with Russia. His address included insights on Sri Lanka’s ambitious targets for merchandise and service exports, as well as initiatives to bolster the small and medium enterprise (SME) sector. In his speech, Mr. Jude Fernando, President of the SLRBC, reflected on the Council’s achievements, including facilitating greater trade collaboration and enhancing bilateral relationships. He outlined future plans focused on creating new opportunities for member engagement, strengthening support for small and medium exporters, and addressing trade challenges through innovative solutions and policy reforms. Mr. Jude Fernando, Director, Rhino Roofing Products Limited, continues as President of the SLRBC for 2024/25. Vice Presidents Mr. Buddhapriya Ramanayake, Managing Director, Maxims Overseas Holdings (Pvt) Ltd, and Mr. Prabath Harshakumar, Vice President – John Keells Holdings and Head of Business Development, Walkers Tours Ltd, were re-elected. Ms. Shamindi Kumarasinghe, Head of Exports, Nature’s Beauty Creations Limited, was re-elected Treasurer, while Mr. Kolitha Wickremasinghe, Managing Director, SALOTA International (Pvt) Ltd, continues as Immediate Past President. The newly elected committee includes representatives from Avian Technologies (Pvt) Ltd, Ceylon Fresh Teas (Pvt) Ltd, Freight Links International (Pte) Ltd, HVA Food PLC, Millennium Teas (Pvt) Ltd, Regency Teas (Pvt) Ltd, Scanwell Logistics Colombo (Pvt) Ltd, Shan Teas (Pvt) Ltd, and Unitrades (Pvt) Ltd. For membership inquiries, contact Council Manager – Aneesha at the Ceylon Chamber of Commerce via 0115588856 or email industry@chamber.lk.
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