New Jersey governor wants more federal resources for probe into drone sightingsNone
NoneTOMS RIVER, N.J. (AP) — Gov. Phil Murphy has asked the Biden administration to put more resources into an investigation of mysterious drone sightings that have been reported in New Jersey and nearby states. Murphy, a Democrat, made the request in a letter Thursday, noting that state and local law enforcement remain “hamstrung” by existing laws and policies in their efforts to successfully counteract any nefarious activity of unmanned aircraft. He posted a copy of the letter on the social media platform X . “This leaves action surrounding the (drones) squarely on the shoulders of the federal government,” Murphy said. “More federal resources are needed to understand what is behind this activity.” Murphy and other officials have repeatedly stressed that there is no evidence that the aircraft pose a national security or a public safety threat, or have a foreign nexus. The Pentagon also has said they are not U.S. military drones. The drones have drawn intense public concern and curiosity since residents first reported seeing them last month. Assemblywoman Dawn Fantasia said from four to 180 aircraft have been reported to authorities since Nov. 18, appearing from dusk till 11 p.m. The flying objects have been spotted near the Picatinny Arsenal, a U.S. military research and manufacturing facility, and over President-elect Donald Trump’s golf course in Bedminster, but the number of reported sightings has grown greatly since then. Drones were also spotted in Pennsylvania, New York, Connecticut and other parts of the Mid-Atlantic region. The FBI, Federal Aviation Administration and other state and federal agencies involved in the investigation have not corroborated any of the reported sightings with electronic detection, and reviews of available images appear to show many of the reported drones are actually manned aircraft. They also say there have been no confirmed sightings in restricted air space. It’s also possible that a single drone has been seen and reported more than once, officials said. Some federal lawmakers have called on the military to “shoot down” the drones. The drones also appear to avoid detection by traditional methods such as helicopter and radio, according to a state lawmaker who was briefed by the Department of Homeland Security. In one case, a medevac helicopter was unable to pick up a seriously injured car accident victim in Branchburg Township in Somerset County late last month due to drones hovering near the planned landing zone, according to NJ.com. The FAA said Thursday that it does not have a report on this incident. Drones are legal in New Jersey for recreational and commercial use but are subject to local and FAA regulations and flight restrictions. Operators must be FAA certified. Witnesses say the drones they think they have seen in New Jersey appear to be larger than those typically used by hobbyists.Harris has ‘no knowledge’ anyone tried to get RTE to take down viral clip
Kangana Ranaut's ‘demon’ jibe at Uddhav Thackeray after MVA's Maha poll rout
Tehran condemns ISIS killing of acting Afghan ministerStars take road win streak into game against the Hurricanes
References to Jerry Daniels removed from Southern Chiefs' Organization website following altercation in OttawaPanthers TE Ja'Tavion Sanders has been released from the hospitalStock market today: Wall Street climbs as bitcoin bursts above $99,000
As cryptocurrency adoption accelerates, wallets are evolving to meet the demands of a rapidly growing digital economy. Bitget Wallet's $20 million support for Telegram Mini Apps and Charles Hoskinson’s advisory role in U.S. crypto policy showcase the industry's push for innovation and regulation. While these efforts highlight the strides in expanding ecosystems and addressing regulatory challenges, Plus Wallet sets itself apart by seamlessly integrating robust security, multi-chain compatibility, and user-centric features. Unlike others, Plus Wallet not only supports decentralized applications and blockchain governance but also empowers users to explore opportunities across ecosystems without compromising ease of use or accessibility. Bitget and Foresight Ventures Launch $20M Program Bitget Wallet, a non-custodial cryptocurrency wallet by the Bitget exchange, has partnered with Foresight Ventures to launch a $20 million support program for Telegram Mini Apps. Specifically, this initiative aims to foster the development of new projects within Telegram's Mini App ecosystem, offering investment and educational support to developers. However, despite a significant decline in The Open Network's (TON) total value locked (TVL)—dropping from $776.6 million in July 2024 to $356 million by November—the fund seeks to revitalize the ecosystem. To achieve this, Bitget Wallet will provide technical assistance through its OmniConnect developer kit and offer operational and marketing support, including access to its extensive Telegram wallet user base. Furthermore, the program also presents opportunities for strategic partnerships, potential listings on Bitget, and investment backing from Foresight Ventures. Notably, this move follows a previous $30 million strategic investment by Bitget and Foresight Ventures in the TON blockchain in September 2024. Charles Hoskinson Steps Into U.S. Politics Charles Hoskinson, founder of Cardano, has been appointed as a cryptocurrency advisor in former President Donald Trump's administration. In this capacity, Hoskinson aims to address regulatory uncertainties and foster innovation through bipartisan policy efforts. Additionally, his company, Input Output Global (IOG), plans to establish a dedicated policy office by early 2025, focusing on legislation such as the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA). As a result of this news, Cardano's ADA token surged 20%, reaching a seven-month high of $0.52, reflecting growing market confidence in Cardano's potential influence on U.S. crypto policy. Plus Wallet: Empowering Crypto Innovation Amid Industry Milestones Crypto wallets like Plus Wallet are setting new standards by integrating advanced features and fostering innovation. For instance, recent developments, such as Bitget Wallet's $20 million initiative for Telegram Mini Apps and Charles Hoskinson’s role in shaping U.S. crypto policy, highlight a critical juncture for the industry. Therefore, these milestones emphasize the need for versatile, user-friendly wallets that not only secure assets but also support the growing demands of decentralized ecosystems. Moreover, Plus Wallet, with its intuitive interface and robust security, exemplifies the next generation of crypto wallets. In particular, it mirrors Bitget's approach by enabling seamless interaction with decentralized applications (dApps) and blockchain-based ecosystems, positioning itself as a leader in interoperability. With this in mind, features like multi-chain compatibility and integrated staking empower users to leverage their assets while participating in innovative projects—be it Telegram Mini Apps or blockchain governance. In addition, Hoskinson’s appointment underscores the industry's shift toward regulatory clarity and mainstream adoption. As a result, policymakers and developers are converging, and wallets like Plus Wallet play a crucial role in bridging users with the evolving crypto infrastructure. Thus, its advanced capabilities ensure that users remain connected to opportunities, from participating in governance frameworks inspired by Hoskinson’s work to exploring new dApps powered by funding initiatives like Bitget’s. Ultimately, by combining security, accessibility, and functionality, Plus Wallet stands out as a valuable tool for users seeking to thrive amid technological advancements and regulatory progress. Final Take As the cryptocurrency space continues to adapt and grow, the tools enabling user participation are becoming increasingly important. Bitget Wallet’s investment in Telegram Mini Apps and Charles Hoskinson’s regulatory initiatives mark pivotal steps in ecosystem development and policy clarity. However, wallets like Plus Wallet truly stand out by combining advanced functionality with unmatched accessibility. By bridging security, multi-chain compatibility, and ease of use, Plus Wallet empowers users to engage with decentralized ecosystems effortlessly. Website: https://pluswallet.app/ Download: https://onelink.to/pluswalletapp Twitter: https://x.com/pluswalletapp Instagram: https://www.instagram.com/pluswallet.app/ Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
Los Angeles Chargers (7-4) at Atlanta (6-5) Sunday, 1 p.m. EST, CBS Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get any of our free email newsletters — news headlines, obituaries, sports, and more.
Kwara State Government has said its doors are open for partnerships with any non-governmental organisations and agriculturists who share the same vision and commitment with the administration to develop the agricultural value chain in the state. The government said it is currently collaborating with the Olam in the area of allocation of farmland and training of extension workers on the production of soya beans and maize and value addition with a view to scaling up food security and nutritional intakes. Commissioner for Agriculture and Rural Development Hon Oloruntoyosi Thomas spoke in Okuta, Baruten local government, on a working visit to the town and its environs. On the Commissioner’s entourage were the Manager, Olam Agri, Amit Mathur; Director of Agricultural Service Ministry of Agric, Hajia Afusat Hussein; and Chairman of Soyabeans Farmers Association, Kwara State branch, Olawoyin Yinka Solomon; among others. Oloruntoyosi said the partnership covers the provision of 100 hectares of land and seedlings by the government to improve access to good seedlings and impressive yields. “The focus of the partnership is on improving the productivity in quality and quantity in the soya beans value chain,” the Commissioner said on Wednesday at the Palace of Emir of Okuta, Alhaji Abubakar Idris Sero, who received the team. “Olam will soon open the soya oil processing plant in Asa Local Government, as facilitated by His Excellency Governor AbdulRahman AbdulRazaq, who made sure that the plant is situated within the state for easy processing of soybeans. Olam has also received the government’s assistance by fast-tracking the land documentation and other processes.” Kwara is a good location for a soya beans oil processing plant because the state is blessed with fertile land and over 150 hectares of land is being cultivated with soya beans across the state, the Commissioner said. “We will continue to support our extension workers because our farmers need to have up-to-date information on how to farm better through technological driving so that they can improve their yields,” she added. Emir of Okuta, Alhaji Sero, said the major occupation of the people of Baruten is farming and appreciated the Governor for his agricultural development initiatives in the local council. “We thank His Excellency for giving the farmers the needed attention. Some people are concerned about different things but His Excellency is concerned about the grassroot and giving us attention, as farmers, matters a lot,” the monarch said, pledging the support of his people to make the project a reality. The Emir described the appointment of Hon Oloruntoyosi as a round peg in a round hole, citing how she is committed and passionate about realizing the mandate of her office. “Our people have been farming and the fertility of the land will depreciate because of massive farming, and coming to the farmers’ aid to have a good yield is a welcome development and we appreciate the government for this intervention,” he said. Mathur, for his part, said the programme was to empower the farmers with soybeans processing machines, technical know-how and good seedlings to ease their farming activities and improve their production. He said the company, at the end of the harvest, will buy directly from them for the processing of soya oil. General Secretary, All Farmers Association of Nigeria (AFAN), Baruten LG chapter, Madubu Muhammad, said the programme is laudable as it will increase the output in soybeans farming and make Baruten one of the high soybeans producing communities in Kwara. The delegation also touched down in Gwane Village, Baruten LG, where the community head, Alhaji Daro Umar, commended the team for the visit and how the government is driving its agricultural policies.In the months leading up to the 2022 full-scale invasion of Ukraine, the U.S. intelligence community’s alarms were blaring. By late 2021, analysts were almost certain of Russia’s intent to dramatically escalate. A flurry of statements and de-classified intelligence attempted to mobilize action in the face of a potentially dire invasion. In the public sphere, organizations using open-sourced intelligence noticed conspicuous preparations, including blood drives and pontoon bridges . Despite overwhelming evidence presented by the intelligence community, media, and open-source researchers, Ukrainian leadership was skeptical . Ukrainian President Volodymyr Zelenskyy worried Western warnings would hurt the Ukrainian economy and cause social instability. It was not until just hours before Russian forces crossed the border that Zelenskyy acknowledged the risk and ordered earnest preparations to begin. While the tactical warning achieved by Ukraine was sufficient to prevent the complete destruction of its air fleet and air defense network, Ukraine would have fared far better had it heeded Washington’s warnings weeks before. An important lesson from this episode is the difficulty of communicating risk to societies already living under latent but perpetual fear of invasion and diagnosing intent in strategic warning. Nowhere in the world is this lesson more relevant than in the Taiwan-U.S. security relationship. China has been watching Ukraine closely, taking its own notes. There is little doubt Beijing has learned much not only from Russia’s failure to conceal its activity in the lead-up to the invasion – but also from how long Ukrainian society took to accept the reality of invasion and mobilize in response to it. Currently, the way that the United States and Taiwan have approached messaging about risk is wrong. Even if Washington had clear knowledge of a Chinese plan to invade, how would it communicate risk to Taiwan when the ceaseless, existential, “ five alarm fire ” has been anything but? The practice of talking down to the Taiwanese public must end. Despite extensive discourse about invasion threats, polling has consistently shown that Taiwanese citizens maintain different threat perceptions from those assessed by Washington. Instead of dismissing these views, U.S. policymakers need to understand why this disconnect exists. The true risk is that if the United States and Taiwan continue on this course and the time for true panic arises, Taipei, and more importantly, the people of Taiwan, aren’t likely to answer the phone. Essential to Washington’s complicated relationship with Taiwan is the messaging that occurs within the United States. There is no shortage of articles explaining why Taiwan matters , or even why it really, really matters . There are countless definitive remedies prescribing what Taiwan needs and how the United States should go about making it happen. However, much of this discussion is predicated on the ability to predict China’s movements, a flawed assumption that risks disastrous policy failure. The problem of communicating risk comes from both ends: like Washington, Taipei shares some of the blame. Continuous posting about Air Defense Identification Zone violations by China’s military as a metric to assess Beijing’s movements and predict action is full of confounders. We saw this after the hype over balloon overflights into Taiwanese airspace in late 2023 and early 2024 was shown to be little more than hot air . This pattern does nothing but reinforce the cycle of creating urgency over a potential threat and not following through with any action. Without interdictive action, Taiwan drawing attention to China’s intrusions creates its own problem. Like the little boy who cried wolf, ringing the alarm bell every time China commits a technical but ultimately quotidian violation sets Taiwan up to miss legitimate threats and erodes U.S. credibility in the region. The problem extends beyond Taiwan-U.S. relations: Risks of a communication failure spill over to regional alliances. South Korea, Japan , and the Philippines have their own security considerations, and there has been skepticism regarding involvement , something that will certainly accelerate should the United States fail to accurately diagnose intent Perhaps more important for Washington than accurately communicating risk to Taiwan is convincing itself. Policymakers in Washington must have confidence in the assessments of the United States’ own intelligence community. Preparations for an invasion, should the U.S. seek to intervene to defend Taiwan, would be considerable . Air defense would be surged to bases in the region, air wings and forces would have to be dispersed and re-organized, and the U.S. economy must be prepared for considerable shocks due to trade disruption. These preparations require time, and potentially more importantly, certainty. If, judging an invasion was imminent, the United States was to make rapid changes to its force posture, there is a danger it could reveal its hand in the face of what is actually a drill or feint by China. Should this occur, Washington could give substantial information to the Chinese government, information that would greatly facilitate Beijing’s war-planning and its ability to predict how the United States might react to a blockade or invasion. Perhaps more importantly, it would undermine the credibility of signaling, possibly de-railing attempts to build a coalition to defend Taiwan or send critical humanitarian aid. Understanding this dilemma, China will likely employ deception to greatly confuse the United States and Taiwan’s ability to predict intent. This could be accomplished by several means, including public disinformation campaigns, fake or distorted movements to confuse geospatial intelligence, or conducting several large-scale drills around the time of the intended action. Regional allies are crucial for any effective deterrence strategy, but current U.S. messaging often undermines these relationships. When Washington emphasizes the importance of protecting treaty allies against diagnosed threats without decisive action, it erodes credibility with regional partners. These relationships require development through consistent support on issues that matter to them – whether it’s North Korean provocations or South China Sea disputes. Building trust through reliable partnership on these issues will strengthen regional solidarity when it comes to Taiwan. Avoiding this trap requires a paradigm shift, one that understands the natural restraints of the United States and Taiwan’s ability to shape the behavior of the People’s Liberation Army (PLA). It requires policymakers and academics alike to reject falling for media hype campaigns, and reject Beijing’s use of military maneuvers around the island to de-legitimize deterrence. Taiwan, the United States, and its allies in the region should adopt a healthy dose of skepticism in its assessments of PLA action around the island. The recent confusion stemming from Taiwanese Ministry of National Defense reports of large PLA Navy movements surrounding Taiwan are evidence of this. Building up these drills and exercises as provocations to be responded to only plays into the PLA’s hand by associating these actions as legitimate acts to “dominate” Taiwan. When everything the PLA does around Taiwan is articulated as a gray-zone tactic that seeks to undermine Taiwan’s ability to defend itself, nothing will ever be considered important enough to drive Taiwanese society into real action – until it’s too late. Preventing this means developing a framework that distinguishes between routine military activities, genuine provocations, and actual invasion preparations. Such clarity would allow for more measured responses and help preserve credibility when raising genuine security concerns. There are some that argue that because Taiwan isn’t doing enough , or isn’t serious , that Washington should continue its approach. But in emphasizing the need for immediate action and putting constant pressure on the Taiwanese populace creates political instability, which politicians attempt to alleviate with big ticket purchases such as aircraft and naval vessels that won’t survive the early hours of conflict. This strategy detracts from investment in domestic capacity and long-term military reform such as asymmetric defense. This creates a never-ending obsession with getting newer and flashier military technology rather than going to the roots of the problem of military modernization for Taiwan. These issues highlight a central problem in intelligence analysis: For fear of missing critical warnings and indications of attack, we often get duped by deliberate misinformation and feints. To mitigate the problem, the U.S. intelligence community should focus more on refining assessments than on collecting information. It is clear that there will be signs of a blockade or invasion, as it is simply impossible to hide all levels of preparation. What is less certain, however, is if intent can be parsed through a flood of incoming information and data. The challenge isn’t finding a needle in a haystack. Rather, it is about identifying the right needle in a warehouse of them. To alleviate some of these problems, the United States should cooperate more closely with Taiwan’s populace and intelligence community. Training pilots and soldiers helps Taiwan’s military but addressing early warning issues and risks upstream is far more effective than stopping the flood with sandbags in front yards. This, along with a shift away from the emphasis on trying to understand and predict gray-zone activity, can provide a more robust analytical capacity and avoid being drawn into Beijing’s misinformation campaigns surrounding intent and risk.
Suarez extends Inter Miami stay with new deal
Canadian freestyle ski star Mikael Kingsbury seeks to extend recordCALGARY, Alberta, Nov. 26, 2024 (GLOBE NEWSWIRE) -- DIRTT Environmental Solutions Ltd. (“DIRTT” or the “Company”), a leader in industrialized construction, is pleased to announce that Holly Hess Groos is joining the DIRTT Board of Directors effective November 26, 2024 and will also serve as the Chair of the Audit Committee. Effective November 26, 2024, Scott Robinson, current Board Chair and Audit Committee Chair, will step down from his role as Audit Committee Chair. Ms. Groos is a senior financial executive. She retired from Verizon after a 30-year tenure in various leadership roles, including CFO of Verizon Wireless, Head of Internal Audit, SVP Business Excellence, Operational Excellence and Treasurer of Verizon. “We are thrilled to welcome Holly to our Board of Directors,” said Scott Robinson, Board Chair. “We believe her extensive financial experience, including serving as SVP and CFO of multiple divisions at Verizon, combined with her background in operational transformation, will be invaluable in supporting DIRTT in the execution of our growth strategy.” Ms. Groos remarked "I am excited to join the DIRTT Board of Directors and to leverage my financial and operational excellence expertise in an effort to transform how the world builds. I look forward to supporting the team on DIRTT’s inspiring transformation journey." Ms. Groos earned a Bachelor of Science (Business Administration / Accounting) from Miami University. She is a Certified Public Accountant from the State of Ohio, a Lean Six Sigma Blackbelt and a member of AICPA. Special Note Regarding Forward-Looking Statements Certain statements contained in this news release that are not historical facts are “forward-looking information” and “forward-looking statements” (collectively, “Forward-Looking Information”) as defined under applicable provisions of the United States Private Securities Litigation Reform Act of 1995, and Section 21E of the Exchange Act and within the meaning of applicable Canadian securities laws. Forward-Looking Information, by its nature, is based on assumptions, and is subject to important risks and uncertainties, including that Ms. Groos’s experience and background will support DIRTT in the execution of its growth strategy, or that such strategy will be executed as expected. You should not rely on any Forward-Looking Information, which represents our beliefs, assumptions and estimates only as of the dates on which it was made, as predictions of future events. We undertake no obligation to update this Forward-Looking Information, even though circumstances may change in the future, except as required under applicable securities laws. We qualify all of our Forward-Looking Information with these cautionary statements. About DIRTT Environmental Solutions DIRTT is a global leader in industrialized construction. Its integrated system of physical products and digital tools empowers organizations, together with construction and design leaders, to build high-performing, adaptable, interior environments. Operating in the commercial, healthcare, education, and public sector markets, DIRTT’s system offers total design freedom, and greater certainty in cost, schedule, and outcomes. Headquartered in Calgary, Alberta, Canada, DIRTT trades on the Toronto Stock Exchange under the symbol “DRT” and is quoted on the OTC markets on the “OTC Pink Tier” under the symbol “DRTTF.” FOR FURTHER INFORMATION, PLEASE CONTACT ir@dirtt.com.
The doors to the Ontario Securities Commission hearing rooms in Toronto on Dec. 12, 2019. Melissa Tait/The Globe and Mail Ontario’s securities regulator is providing $11-million in funding to help Canada’s primary advocacy group for retail investors continue to operate for another six years. On Wednesday, the Ontario Securities Commission announced that over the next six years it will provide FAIR Canada with funding of up to $2-million a year to be used to support FAIR’s day-to-day operations. OSC chief executive officer Grant Vingoe said the contribution will provide FAIR with a “steady and stable source of funding” and help the national charitable organization with “its important work.” “FAIR provides an important and independent voice for investors, advocating for their interests on securities policy issues,” Mr. Vingoe said in a statement. The OSC has been criticized for not returning more money to harmed investors from the $123-million it has collected over the years from settlements and sanctions levied by its enforcement division. Last year, the OSC spent just $7-million on investor education, payments to whistleblowers and compensation for harmed investors. The $11-million funding to FAIR will be provided from sanction and settlement funds held in the commission’s designated fund. The money will be paid in two installments, with the first instalment to be paid to FAIR immediately, and a second instalment provided in 2027. FAIR can only draw a maximum of $2-million a year under the agreement, the OSC said. Toronto -based FAIR was established in 2008 to provide retail investors a voice at the table when regulatory rules and laws are being decided. Initially known as the Canadian Foundation for the Advancement of Investor Rights, the organization was originally funded by the predecessors of the Investment Industry Regulatory Organization of Canada, which provided an initial investment of $3.75-million. FAIR Canada’s executive director Jean-Paul Bureaud said the new funding will allow the organization to continue to execute its strategic plan. “Canadian investors are challenged by market changes, technological innovation, and an increasingly complex regulatory environment. There is a need for a strong, national, independent, professional advocate,” Mr. Bureaud said. “The OSC’s support is a vote of confidence that will help fuel our advocacy efforts for individual investors.” This is not the first round of funding the OSC has provided. In previous years it has paid out $7.5-million to help fund FAIR. In 2019, the investor advocacy group found itself in financial difficulties after it struggled to raise millions in funding required to match a $2-million gift from Stephen Jarislowsky, the founder of investment firm Jarislowsky Fraser Ltd. Mr. Jarislowsky’s gift in 2012 was conditional on FAIR finding $4-million in matching gifts. But outside of a $2-million contribution from the OSC at the time, FAIR had fallen short. At the end of 2019, FAIR returned the money provided by Mr. Jarislowsky, plus about $400,000 in investment earnings that came from his grant. At the time, Mr. Jarislowsky blamed governments and regulators, including self-regulatory industry groups, for failing to step up to what he sees as their responsibility. -with files from David MilsteadPresident Joe Biden’s administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable. It’s unclear whether the administration can complete the loan before Donald Trump becomes president again in less than two months, or whether the Trump administration might try to claw the money back. Trump previously vowed to end federal electric vehicle tax credits, which are worth up to $7,500 for new zero-emission vehicles and $4,000 for used ones. Rivian made a splash when it went public and began producing large electric R1 SUVs, pickup trucks and delivery vans at a former Mitsubishi factory in Normal, Illinois, in 2021. Months later, the California-based company announced it would build a second, larger, $5 billion plant about 40 miles (64 kilometers) east of Atlanta, near the town of Social Circle. The R1 vehicles cost $70,000 or more. The company plans to produce R2 vehicles, a smaller SUV, in Georgia with lower price tags aimed at a mass market. The first phase of Rivian’s Georgia factory is projected to make 200,000 vehicles a year, with a second phase capable of another 200,000 a year. Eventually, the plant is projected to employ 7,500 workers. But Rivian was unable to meet production and sales targets and rapidly burned through cash. In March, the company said it would pause construction of the Georgia plant. The company said it would begin assembling its R2 SUV in Illinois instead. CEO RJ Scaringe said the move would allow Rivian to start selling the R2 sooner and save $2.25 billion in capital spending. Since then, German automaker Volkswagen AG said in June it would invest $5 billion in Rivian in a joint venture in which Rivian would share software and electrical technology with Volkswagen. The money eased Rivian’s cash crunch. Tuesday’s announcement throws a lifeline to Rivian’s grander plans. The company said its plans to make the R2 and the smaller R3 in Georgia are back on and that production will begin in 2028. “This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 and R3 vehicles that emphasize both capability and affordability,” Scaringe said in a statement. The Energy Department said the loan would substantially boost electric vehicles made in the United States and support Biden’s goal of having zero-emission vehicles make up half of all new U.S. sales by 2030. “As one of a few American EV startups with light duty vehicles already on the road, Rivian’s Georgia facility will allow the company to reach production volumes that make its products more cost competitive and accelerate access to international markets,” the department said in a statement. The loan includes $6 billion, plus $600 million in interest that will be rolled into the principal. The money would come from the Advanced Technology Vehicles Manufacturing Loan Program, which provides low-interest loans to make fuel-efficient vehicles and components. The program has focused mostly on loans to new battery factories for electric vehicles under Biden, but earlier helped finance initial production of the Tesla Model S and Nissan Leaf, two pioneering electric vehicles. The loan program, created in 2007, requires a “reasonable prospect of repayment” of the loan. Under Biden, the program has announced deals totaling $33.3 billion, including $9.2 billion for massive battery plants in Tennessee and Kentucky for Ford’s electric vehicles. Democratic U.S. Sen. Jon Ossoff, who has been a vocal supporter of electric vehicle and solar manufacturing in Georgia, hailed Tuesday’s announcement as “yet another historic federal investment in Georgia electric vehicle manufacturing.” Ossoff had asked Energy Secretary Jennifer Granholm to support the loan in July. “Our federal manufacturing incentives are driving economic development across the state of Georgia,” Ossoff said in a statement. Georgia Gov. Brian Kemp says his goal is to make Georgia a center of the electric vehicle industry. But the Republican has had a strained relationship with the Biden administration over its industrial policy, even as some studies have found Georgia has netted more electric vehicle investment than any other state. Kemp has long claimed that manufacturers were picking Georgia before Biden’s signature climate law, the Inflation Reduction Act, was passed. Efforts to bring Rivian to Georgia predated the Biden administration and “our shared vision to bring opportunity to Georgia will remain no matter who resides in the White House or what party controls Congress,” Kemp spokesperson Garrison Douglas said Tuesday. The loan to Rivian could rescue one of the Kemp administration’s signature economic development projects even as Biden leaves office. That could put Rivian and Kemp in the position of defending the loan if Trump tries to quash it. State and local governments offered Rivian an incentive package worth an estimated $1.5 billion in 2022. Neighbors opposed to development of the Georgia site mounted legal challenges. State and local governments spent around $125 million to buy and prepare the nearly 2,000-acre (810-hectare) site. The state also has completed most of $50 million in roadwork that it pledged. The pause at Rivian contrasts with rapid construction at Hyundai Motor Group’s $7.6 billion electric vehicle and battery complex near Savannah. The Korean automaker said in October that it had begun production in Ellabell, where it plans to eventually employ 8,500. ___ Associated Press writer Matthew Daly in Washington contributed to this story. For the second straight day, Drake has taken legal action President-elect Donald Trump's nominee for the nation's top health job, President Joe Biden's administration announced Tuesday that the U.S. Department Already bracing for funding cuts under a new Trump administration,
Applied Materials Inc. stock outperforms competitors despite losses on the day
AP Sports SummaryBrief at 6:30 p.m. EST