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(Bloomberg) -- Asian stocks were poised for a mixed opening on Monday as traders grappled with continued political upheaval in South Korea and as investors awaited signs of fresh stimulus from Beijing. Oil will be closely watched after the Syrian government was toppled. Equity futures in Australia and Hong Kong fell while those in Japan and mainland China climbed. US stocks advanced on Friday with the S&P 500 notching its 57th record close as a monthly jobs report indicated the labor market is cooling enough to allow the Federal Reserve to cut interest rates this month. The dollar was steady against major peers in early trading. Investors are readying themselves this week for a final flurry of central bank decisions across four continents, a key meeting of Chinese officials and US inflation data in an effort to pad returns for the year and help guide positions into 2025. A gauge of global stocks has returned more than 20% this year, on track for a second straight outsized return, according to data compiled by Bloomberg. “It will be a lively week ahead with event risk all over the shop,” Chris Weston, head of research at Pepperstone Group Ltd. in Melbourne wrote in a note to clients. “A hot US CPI print may not necessarily derail a cut at next week’s FOMC meeting” but it may effect the outlook for further easing and move the dollar. In Asia, South Korean assets may move as some lawmakers push for President Yoon Suk Yeol to resign amid mounting public anger of the brief imposition of martial law last week. Opposition lawmakers said they would push for another impeachment vote on Yoon after the first one failed. Meanwhile, the People’s Bank of China’s daily fixing of the yuan will be parsed after the central bank signaled support for the currency through a series of strong fixings last week. That comes ahead of consumer and producer price data that may point to sluggish demand in the world’s second largest economy and add to expectations of more fiscal support following the Central Economic Work Conference. “There is a reasonable case to be made that China may have been keeping its powder dry pending US trade policy changes from January,” Barclays strategists led by Themistoklis Fiotakis write in a note to clients. Given there’s scope for some dollar easing, “yuan depreciation pressures should also ease temporarily given PBOC resistance at about 7.30” per dollar. Middle-East Traders will also be monitoring oil after Saudi Arabia cut prices for buyers in Asia by more than expected after OPEC further delayed a lift to production. Moves could be tempered as markets assess the fallout from the toppling of Syrian President Bashar al-Assad’s government by opposition groups, a major blow to key backers Russia and Iran which may reshape the region as conflicts persist. Treasuries extended their recent rebound on Friday, with investors getting a reprieve from a selloff that crested in November as Donald Trump’s presidential victory raised inflation risks. Since then, however, yields have drifted lower on speculation the Fed will ease policy again at this month’s gathering, its last before Trump takes office, as it tries to steer the economy to a soft landing. In response to possible tensions between the incoming administration and the US central bank, Trump told NBC’s Meet the Press on Sunday that he has no plans to replace Fed Chair Jerome Powell once he returns to the White House. Markets are now pricing a roughly 80% chance the Fed cuts at its December meeting, though officials have cautioned on the pace of further cuts. The Fed’s projections already offer a gradual pace of easing “yet even slower cuts and potentially a pause could be warranted,” Societe Generale economists including Klaus Baader wrote in a note to clients. “We expect a 25 basis-point rate cut at the December FOMC meeting but even that is dependent on upcoming CPI.” Elsewhere this week, Australia’s central bank will likely keep its key interest rate on hold amid indications the nation’s economy is beginning to soften. The European Central Bank, Bank of Canada and Swiss National Bank are all expected to ease policy, while the Brazilian central bank may hike to arrest inflation pressures. Key events this week: Some of the main moves in markets: Stocks Currencies Cryptocurrencies Bonds Commodities This story was produced with the assistance of Bloomberg Automation. More stories like this are available on bloomberg.com ©2024 Bloomberg L.P.California vows to step in if Trump kills US EV tax credit
Russian President Vladimir Putin held his annual ‘Direct Line’ event in Moscow on Thursday during which he addressed a wide range of issues in the marathon Q&A session. From regrets about the timing of Russia’s military operation in Ukraine to blunt comments on global and domestic challenges, the Russian leader offered numerous insights into his thinking. Here are the key takeaways from the event: Putin: Maybe we should have launched the Ukraine operation earlier The Russian president acknowledged that it might have been better to have launched the military operation in Ukraine sooner. “You know, if it were possible to look at the situation in 2022, knowing what is happening now, what would I think? That such a decision, which was made at the beginning of 2022, should have been made earlier,” he said. Putin added that he acted at the time “because it was impossible to stand still and wait for the situation to get worse for us – that’s what it’s all about.” He said the operation is a necessary step to secure Russia’s national interests, dismissing accusations of aggression. Moscow ready to talk to Ukraine, but Zelensky needs to be elected Putin signaled Moscow’s willingness to engage in talks with Ukraine – but with conditions. “We are ready for dialogue, but if not with the head of the regime, then with whom? If he is illegitimate himself. You know, if someone runs for election [and] gains legitimacy, we will talk to anyone, including Zelensky,” Putin said, implying that Vladimir Zelensky lacks democratic legitimacy due to his having postponed the elections. He also criticized Kiev’s Western backers for prolonging the war by supplying arms. Zelensky will likely go abroad Putin speculated that Zelensky might seek exile, hinting at the potential political fallout in Ukraine. “He will be supported by the people whose interests he serves today,” the president remarked. Porn is a global ‘scourge’ Putin addressed what he described as the moral decay caused by internet pornography. “This is not only our problem, but also the problem of many other countries,” he said. “The answer can be what? In general, you could ban, but you should always offer an alternative that is more interesting than a porn site. So that a person would get in there, open a porn site and say: I’ve already seen this, I want to see something else.” His comments came amid broader discussions on family values and youth policies. The demographic issue is one of Russia’s key problems Putin listed Russia’s declining population as a strategic challenge, blaming economic instability and societal shifts. “Demographics are a crucial issue for Russia – and for much of the world,” he said. “We need to create conditions where people want to have children.” He promised more state support for families, particularly in rural areas, but acknowledged progress has been slow. Migration is an issue acute for Russia Russia’s labor market is grappling with severe labor shortages, which Putin attributed to a dwindling native workforce and reliance on migrant labor. “The migration issue is acute,” he admitted, adding that illegal immigration must be controlled while skilled foreign workers are welcomed. He noted that regional instability in Central Asia has further complicated migration patterns. Relations with China at all-time high Putin hailed Russia’s partnership with China as unprecedentedly strong, underscoring its geopolitical importance. “Our relations with China are at an all-time high – both economically and strategically,” he stated, highlighting joint energy projects and military cooperation. He dismissed claims that Russia is overly dependent on China, calling the partnership mutually beneficial. Israel is the big winner in Syria, Russia did not lose Turning to the Middle East, Putin acknowledged that Israel emerged as a key player in Syria but rejected any notion that Russia had suffered a setback. “Israel has gained influence in Syria... but we achieved our objectives,” he argued. “Russia’s presence there has always been about fighting terrorism and stabilizing the region, and keeping down the Islamic State,” he explained. Putin reveals no contact with Trump for four years Putin disclosed that he has not spoken to incoming US President Donald Trump since he left office in January 2021. “I haven’t spoken to Trump for four years,” he said, adding that Russia-US relations remain strained regardless of who occupies the White House. Putin also criticized what he called the US’s “hostile policy” toward Moscow under the administration of current President Joe Biden. Black Sea oil spill an “ecological disaster” Putin described a recent oil spill in the Black Sea as an environmental catastrophe. “This is an ecological disaster,” he lamented, calling for urgent cleanup efforts and pledging federal support for affected regions. He blamed negligence by oil companies and promised that those responsible would face consequences.
China's Xi to lead Macau handover anniversary celebrationsWith a recession deepening and the 1982 midterm elections approaching, Federal Reserve Chair Paul Volcker was summoned to the Oval Office, where Ronald Reagan was sitting with his chief of staff, James Baker. When Baker said Reagan wanted to give Volcker an “order” about interest rates, the 6-foot-7 central banker immediately stalked silently from the room. He did not take orders. Donald Trump is determined to break institutions to the presidential saddle, so people wonder: Could he fire the head of the Fed? (Probably not. Besides, Chair Jerome H. Powell’s term expires in May 2026.) More interesting questions are: What is the Fed for? And is its “independence” a license for mission creep? John H. Cochrane and Amit Seru of the Hoover Institution think the hyperactive Fed has become too ambitious in its interventions in the economy and social policy. Their proposal is the title of their essay “Ending Bailouts, At Last” in the Journal of Law, Economics and Policy. The problematic behavior is a century old and bipartisan: When large financial institutions are in danger of failing, government bails them out by bailing out their creditors. The 1907 financial crisis led in 1913 to the Federal Reserve Act establishing the Fed, which did not prevent the 1933 bank collapse. This led to deposit insurance and many regulations, which did not prevent Continental Illinois Bank’s 1984 failure, the savings and loan crisis of the 1980s and many other bumps on the road to 2008. “Never again, we say, again and again,” wrote Cochrane and Seru. Bailouts multiply, larger each time, spreading to highly leveraged industrial companies, as in the auto bailout of 2009. “Too leveraged to fail,” they wrote, “might be the summary of our new regime.” Too leveraged is a consequence of interest rates too low for too long, combined with confidence that the bailout culture is forever and unlimited. During the pandemic, the market for Treasury bonds became fragile, so the Fed lent bond dealers money to buy the bonds, “then turned around and bought the Treasurys from the dealers a few days later.” Cochrane and Seru wrote that the Fed almost has an implicit policy of buying “whatever quantity” necessary to prop up corporate bond prices. They noted that the Biden administration’s “paycheck protection” program made “forgivable loans” — Washington-speak for gifts — “to small businesses with 500 or fewer employees to cover their business costs, including mortgage interests, rent, utilities and up to eight weeks’ payroll costs.” It is one thing for the accountable political institutions to do this, quite another for the Fed to lend “on lenient terms to the real economy, not just the financial sector.” Throughout the economy, Cochrane and Seru wrote, leverage has been rewarded: “If you saved and bought a house with cash, if you saved and went to a cheaper college rather than take out a big student loan, or if you repaid that loan promptly, you did not get money.” In today’s permanent central-bank-run credit system, “Borrow. Borrow especially if you are big or part of a big and politically influential class of borrowers. As with student loans, borrow from the government.” You might not have to pay it back. When Silicon Valley Bank accepted many large, uninsured deposits, then got in trouble, the Federal Deposit Insurance Corp. — the government — guaranteed all deposits. So now, wrote Cochrane and Seru, “effectively markets expect all deposits of any size to be guaranteed going forward, at least during any newsworthy event.” The Congressional Budget Office projects budget deficits of 5% to 8% of gross domestic product forever. And this, Cochrane and Seru correctly believe, is too unrealistic. CBO assumes no crises, recessions, wars, pandemaics or — most laughably — spending increases. But even this optimistic debt path “simply cannot happen.” “We have,” Cochrane and Seru wrote, “once-in-a-century crises every 10 years these days.” “Crisis” has come to mean “the possibility that someone, somewhere might lose money.” And “contagion” now denotes a vague fear that “any ripple anywhere might bring down the financial system.” Societies get what they incentivize. Moral hazards — incentives for perverse, risky behaviors — are now sown throughout American life. Cumulatively, they might break the government before Trump’s eccentric Cabinet nominees can. Will writes for The Washington Post. Get local news delivered to your inbox!
Segall Bryant & Hamill LLC Makes New $1.21 Million Investment in International Game Technology PLC (NYSE:IGT)
NEW YORK, Dec 8 (Reuters) - Several key players in President-elect Donald Trump's new cryptocurrency venture head to Abu Dhabi on Monday for the largest bitcoin gathering in the Gulf region as the digital currency sets record highs. Speakers include the president-elect's son Eric and billionaire Steve Witkoff, the new White House envoy for the Middle East and co-founder of World Liberty Financial, a crypto platform launched in September that Donald Trump and his family helped form. Eric Trump will deliver Tuesday's keynote address at the Bitcoin MENA conference, which is projected to draw more than 6,000 people, and will then hold a "whale-only" chat in the conference's VIP lounge, according to the event's agenda. Witkoff will also speak separately to that more exclusive crowd, which requires a $9,999 "whale" pass, a nickname for large players who have potential to move a market. The president-elect is World Liberty Financial's chief crypto advocate, and sons Eric, Don Jr. and Barron are ambassadors, according to the WLF website. Company filings show Donald Trump is entitled to 22.5 billion WLF tokens and a share of its revenues. "The bitcoin conference carries a lot of significance for crypto as it's one of the longest-running conferences focused on bringing our industry together," said Marshall Beard, chief operating officer of Gemini, the crypto exchange founded by Trump backers Cameron and Tyler Winklevoss. "It’s been incredible to see the rise of bitcoin alongside the growth of the conference ... and crypto became a major campaign issue in this year’s presidential election." Other speakers also have close ties to World Liberty Financial, including Justin Sun, the 32-year-old Chinese founder of blockchain platform Tron. Three weeks after Trump won the Nov. 5 election, Sun posted on X that he bought $30 million worth of WLF tokens, making him the venture's largest investor. Sun was charged with crypto-related fraud and securities violations under the Biden administration. The Gulf gathering is occurring at an inflection point for the industry as Trump, once a crypto skeptic, has vowed he will be the " crypto president" and make America the new "crypto capital of the planet." Buoyed by these promises, bitcoin smashed records last week when it hit $100,000 . Trump also named a White House czar for artificial intelligence and cryptocurrencies, former PayPal executive David Sacks, a close friend of Trump adviser and megadonor Elon Musk. Musk, whose companies include X, SpaceX and Tesla, spent more than a quarter of a billion dollars to help elect Trump in 2024, records show. Other technology and digital asset veterans also gave millions to candidates friendly to the industry, according to analytics firm Breadcrumbs. Trump's 2016 campaign manager, Paul Manafort, will address the conference on "A Life of Politics with the Man Closest to Donald Trump." Binance founder Changpeng Zhao, who served a four-month U.S. prison sentence this year for crypto-tied money-laundering law violations, will also hold a whale session at the conference. Trump, his family members, other speakers and their firms did not respond to requests for comment. Sign up here. Reporting By Michelle Conlin; editing by Megan Davies and Cynthia Osterman Our Standards: The Thomson Reuters Trust Principles. , opens new tab Thomson Reuters Michelle Conlin is an award-winning journalist at Reuters, where she has covered Americans in debt, the 2016 presidential election, mortgage fraud, the foreclosure epidemic, pandemic evictions and national breaking news. Her reporting at Reuters has had wide-ranging impact, including contributing to new legislation addressing zombie homes, new rules banning banks’ practice of gagging homeowners, and the end of governmental financing support of bonds backed by Wall Street’s foray into single-family homes.
‘Can we keep him?’: Catjak joins the Wojak family
Combining Sustainable Luxury and Cutting-Edge Design in Japan's Capital MIAMI , Dec. 5, 2024 /PRNewswire/ -- SH Hotels & Resorts, the sustainable hotel brand management company founded by hospitality visionary Barry Sternlicht, is proud to unveil plans for 1 Hotel Tokyo. Set to open in 2025, 1 Hotel Tokyo represents a longstanding collaboration with Mori Trust, one of Japan's leading property developers. After years of planning, the two companies are creating a true 1 Hotels experience that's deeply rooted in nature and sustainability. 1 Hotel Tokyo will be located in the buzzing Akasaka district, serving as an anchor to Mori Trust's Tokyo World Gate Akasaka project. This state-of-the-art complex integrates retail, offices, and the luxurious 1 Hotel experience in a pedestrian-friendly and dynamic, masterfully planned development. "Partnering with Mori Trust, we see a vision realized—a shared vision that transcends mere accommodation and embodies a commitment to nature, luxury, and cultural preservation in Tokyo , a city renowned for its innovation and sophistication," says Barry Sternlicht , founder of 1 Hotels and Chairman of SH Hotels & Resorts. "To world travelers, Japan is revered for the beauty of its gardens and the serenity of the soul. We have tried to mirror this with our 1 Hotel Tokyo. It's part of our pledge to create exceptional hospitality experiences that embrace the next generation of luxury travelers." "Tokyo World Gate Akasaka is a development project with a vision to create a lush, green oasis in the heart of Tokyo ," says Miwako Date, President and CEO of Mori Trust. "With its deep commitment to nature reflected in every aspect—from design to service—1 Hotels embodies the future of luxury hospitality. We feel it is the perfect flagship choice for Tokyo World Gate Akasaka, and we were excited to bring this mission-driven brand on board. We are confident that 1 Hotel Tokyo will become a must-visit destination for travelers from around the world and our local community, further enhancing Tokyo's appeal. Through our hotel and resort business, we remain committed to establishing Tokyo as a leading tourism destination." Sustainability is at the core of 1 Hotel Tokyo, which has achieved the Rank S certification from CASBEE (Comprehensive Assessment System for Built Environment Efficiency), signifying the highest level of environmental performance. This prestigious recognition highlights the property's alignment with Japan's ambitious environmental goals. Key initiatives include reduced energy and water consumption, advanced rainwater and greywater recycling systems, and the sustainable sourcing of furniture, fixtures, and equipment (FF&E) from reclaimed and recycled materials. "Our commitment to sustainability is woven into the hotel's very fabric, from energy and water conservation systems to the use of reclaimed materials, creating a sanctuary that respects and enhances its environment," says Raul Leal , CEO of SH Hotels & Resorts. "And with its biophilic design and focus on wellness and nature-inspired, community-minded experiences, 1 Hotel Tokyo brings a serene calm—creating an oasis in the heart of Tokyo's bustling urban environment." In keeping with this commitment to nature and sustainability, the hotel's design draws from authentic materials, traditional craftsmanship, and Japan's natural landscapes. The design approach embraces the Japanese concept of wabi-sabi, celebrating the beauty in imperfection and using raw materials and textures to create a Zen-like atmosphere. Upon arrival, guests are welcomed into a tranquil space that blends moss-covered boulders, plant-lined walls, and the same Oya stone that Frank Lloyd Wright used in some of his iconic Japanese buildings. On the 38th floor, the main lobby is a peaceful retreat with a sculptural stone water feature that brings the outdoors inside, ample greenery, a ceiling that mimics the raked sand patterns of a Zen garden, and dazzling city views. The food and beverage offerings at 1 Hotel Tokyo are meticulously curated to reflect Japan's culinary prowess, with a design that underscores the groundbreaking cuisine and mixology that will be showcased here. The main restaurant, accessed from the 38th-floor lobby, features details like locally sourced stepping stones that emulate a Japanese garden pathway, an open kitchen, multiple private dining areas, and spectacular views of the Imperial Palace. The bar has hand-stitched lanterns, walls covered in handmade textured tiles, 360-degree seating, and breathtaking views of Tokyo's skyline. The 211 spacious guest rooms—including expansive suites measuring approximately 42 to 140 square meters—blend traditional Japanese design with modern luxury. Entrances feature moss walls, lattice wood accents, and natural stone, while bedrooms boast live-edge plank headboards, sculptural TV consoles with integrated planters, and wood-beamed ceilings. The bathrooms are designed with organic materials, including chiseled stone vanities and deep soaking tubs, to create a soothing, spa-like ambiance. 1 Hotel Tokyo will also offer a comprehensive wellness experience that allows guests to rejuvenate mind, body, and spirit. There's a spa inspired by Zen gardens, multiple hammams, a fitness center with an incredible view, and an indoor pool with huge windows that blur the lines between indoors and outdoors. A serene outdoor terrace space filled with lush greenery allows guests to take in views of the city. In addition to its world-class leisure amenities, 1 Hotel Tokyo will be a top destination for business travel and special events. The property will have approximately 473 square meters of meeting and event space, featuring rough-hewn wood entry doors, minimalist aesthetics, custom carpets inspired by the movement of sand, and stunning views of Tokyo Tower. The setting adds to the allure. 1 Hotel Tokyo will give guests a convenient gateway to Akasaka, one of Tokyo's most exciting neighborhoods. Here, bustling streets are lined with restaurants, parks, and historic landmarks. As Tokyo continues to thrive as a global hub of culture and innovation, 1 Hotel Tokyo represents a new chapter in Japan's hospitality landscape. It's positioned to become an iconic destination, embodying 1 Hotels' commitment to sustainability, mindful luxury, and a deep connection to nature. ABOUT SH HOTELS & RESORTS SH Hotels & Resorts, an affiliate of global private investment firm Starwood Capital Group, is a sustainable hotel brand management company that operates 1 Hotels, a nature-inspired lifestyle brand that launched in 2015 with properties in South Beach and Manhattan and now includes Brooklyn Bridge, West Hollywood , Sanya (China) , Toronto , San Francisco , Nashville , the recently opened Hanalei Bay flagship property, and the brand's first European property in Mayfair (London) , with projects in development in Cabo San Lucas , Paris , Elounda Hills ( Crete ), Austin , Copenhagen , Riyadh , Melbourne , Seattle , Tokyo and San Miguel de Allende; Baccarat Hotels & Resorts, a luxury brand that made its debut in March 2015 with the opening of its flagship property in New York , with projects under development in Brickell ( Miami ), Florence, Riyadh , Dubai , Rome , and the Maldives ; and Treehouse Hotels, which premiered in London in 2019 and with projects under development in Manchester , Sunnyvale , Brickell ( Miami ), Riyadh , and Adelaide ( Australia ). Leveraging its marketing, design, operational, and technological expertise, SH Hotels & Resorts is the force behind some of the most groundbreaking and dynamic hotel brands in the world. For more information, visit www.shhotelsandresorts.com . ABOUT 1 HOTELS As a mission-driven luxury lifestyle hotel brand inspired by nature, 1 Hotels cultivates the best of sustainable design and architecture, together with extraordinary comfort and an unrivaled level of service. 1 Hotels—which launched in 2015 with the opening of exclusive properties in Miami's South Beach and Manhattan's Central Park; followed by Brooklyn , located on the East River, in February 2017 ; West Hollywood , on Sunset Boulevard, in June 2019 ; Sanya (China) in 2020; Toronto in 2021; San Francisco and Nashville in 2022; and in 2023, the Hanalei Bay flagship property and Mayfair (London) , the brand's first European property—is inspired by a simple idea: those that travel the world should also care about it. It is, after all, 1 world. 1 Hotels upholds this vision by channeling nature through design and culinary partnerships while connecting with the local community and taking sustainable steps to make a big difference. The brand is expanding with properties under development in Austin , Cabo San Lucas , Paris , Copenhagen , Elounda Hills ( Crete ), Riyadh , Melbourne , Seattle , Tokyo and San Miguel de Allende. Additional information can be found at 1hotels.com . ABOUT MORI TRUST Mori Trust Co., Ltd. is a comprehensive real estate developer for urban development in central Japan and hotel and resort business throughout Japan . With its three core businesses of "Real Estate Business," "Hotel & Resort Business," and "Investment Business (domestic and overseas)," Mori Trust has 64 buildings, residences, and commercial facilities in Japan and abroad, and 35 hotel and resort facilities (as of March 2024 ). Through urban development and hotel development that preserves and utilizes historical buildings that serve as tourism resources, we will promote projects that enhance Japan's international competitiveness. For more information, visit mori-trust.co.jp/english/ . Photo - https://mma.prnewswire.com/media/2572528/SH_Hotels_Resorts_1H_Tokyo_Lobby_View.jpg Photo - https://mma.prnewswire.com/media/2572529/SH_Hotels_Resorts_1H_Tokyo_Lobby_View.jpg Logo - https://mma.prnewswire.com/media/2572527/SH_Hotels_Resorts_Logo.jpg Logo - https://mma.prnewswire.com/media/786192/SH_Hotels_and_Resorts_Logo.jpg SOURCE SH Hotels & ResortsLOS ANGELES--(BUSINESS WIRE)--Dec 19, 2024-- Surf Air Mobility Inc. (NYSE: SRFM) (“the Company”,“Surf Air”), a leading regional air mobility platform, announced the appointment of David Anderman to the Company’s board of directors effective December 17, 2024. Mr. Anderman served as Chief Legal Officer of Surf Air from June 2023 to May 2024. Mr. Anderman currently serves as the Co-Founder and General Partner of Stellar Ventures, a venture fund investing in the next generation of space entrepreneurs. Mr. Anderman was General Counsel of SpaceX from June 2019 to December 2020, during which time he supported the launch of satellite internet network Starlink and the launch of NASA astronauts to the International Space Station. Prior to SpaceX, Mr. Anderman served 16 years at Lucasfilm Ltd., starting as the junior lawyer and rising through the ranks to become General Counsel and Chief Operating Officer. He negotiated the deal to sell Lucasfilm to the Walt Disney Company in 2012. He has held C-level positions at a series of technology startups. Mr. Anderman began his career as an intellectual property litigator in Silicon Valley. “David Anderman brings valuable experience, insight, and expertise to our board of directors, and to our SurfOS AI-powered software being developed with Palantir to revolutionize aviation management with all-in-one software,” said Carl Albert, Chairman of Surf Air Mobility. About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and the largest commuter airline in the U.S. by scheduled departures as well as the largest passenger operator of Cessna Caravans in the U.S. In addition to its airline operations, Surf Air Mobility is currently developing an AI powered airline software operating system and is working toward certification of electric powertrain technology. Surf Air Mobility plans to offer our technology solutions to the entire regional air mobility industry to improve safety, efficiency, profitability and reduce emissions. Forward-Looking Statement This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company and reflect the Company’s current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. These and other risks are discussed in detail in the periodic reports that the Company files with the SEC, and investors are urged to review those periodic reports and the Company’s other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov , before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241219296051/en/ CONTACT: Surf Air Mobility Media Contacts Presspress@surfair.com Investors:investors@surfair.com KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: DATA MANAGEMENT AIR TECHNOLOGY TRANSPORT SOFTWARE ARTIFICIAL INTELLIGENCE SOURCE: Surf Air Mobility Inc. Copyright Business Wire 2024. PUB: 12/19/2024 04:15 PM/DISC: 12/19/2024 04:13 PM http://www.businesswire.com/news/home/20241219296051/en
Rays will play 13 of first 16 games at home and 47 of 59, then have 69 of last 103 on road
East Carolina cornerback Shavon Revel Jr., a potential first-round pick, declared for the 2025 NFL Draft on Friday. Revel, who sustained a torn left ACL in practice in September, had one season of eligibility remaining. "After an incredible journey at East Carolina, I am officially declaring for the 2025 NFL Draft," the senior posted on social media. "... Pirates nation, thank you for your unwavering energy and support every game. Representing ECU is an honor, and I look forward to continuing to do so on Sundays!" Revel recorded two interceptions in three games this season, returning one 50 yards for a touchdown on Sept. 14 against Appalachian State. Over three seasons with the Pirates, Revel had three interceptions, 15 passes defensed and 70 tackles in 24 games. He was a second-team All-American Athletic Conference selection last season. ESPN draft analyst Mel Kiper Jr. ranked Revel as the No. 2 cornerback and No. 23 overall prospect in the 2025 draft class. --Field Level MediaOraSure Technologies Acquires Sherlock BiosciencesGemcor provides flexible automated solutions for precision-based drilling and fastening applications, blending proven reliability with next-generation technology MACOMB, Mich. , Dec. 17, 2024 /PRNewswire/ -- Since 1937, Gemcor Production Solutions (Gemcor) has installed over 2,000 automated fastening systems worldwide, integral to the manufacturing process of aerostructures throughout modern history. Acquired by Ascent Aerospace in 2016, its advantage is its heritage–a patented, roller-screw technology that provides manufacturing flexibility with many benefits, including shorter cycle times, extended life, and cost savings. "Gemcor products truly set the standard in the industry. With over 80 years of innovation and 100 installations alone in the last ten years, nothing is as reliable or adaptable as a quality-tested factory solution for airframers," shared Dan Friz, Vice President of Business Development and Sales at Ascent Aerospace. Automation and integration were central to Gemcor's evolution under Ascent. "Working directly with legacy Gemcor customers, we were able to pinpoint steps in the production process where opportunities existed to innovate," said Michael Hinckley , Director of Strategic Programs at Ascent Aerospace. "To provide a turn-key solution, we incorporated an automated fastener loading system and integrated a maintenance platform and equipment into the overall production system." For Ascent's customers, quality and cycle-time reductions were key factors in Gemcor's innovation. "The enhanced visual quality inspection with machine learning capabilities, built-in cycle time optimization, and the ability to enable future 'lights-out' operations are just a few of the added benefits of Gemcor's offerings," added Hinckley. "Each of these improvements allows our customers to ramp up production and save on costs, with zero compromise on quality. Our customers trust the legacy capabilities of the Gemcor product line, and the integration into Ascent Aerospace has not only solidified the brand, it has enhanced the overall capabilities." Gemcor's latest technology boasts a fully integrated wing panel assembly production system and six large C-Frame Gemcor machines that provide fastener feed, drill, countersink, sealant application, swage, shave, and multiple inspection capabilities. In addition, two product lines with Gemcor accessibility from both sides of the product, as well as eight automated positioning systems for positioning and holding wing panels. A traffic controller that provides coordinated movement between positioning systems, Gemcor machines, and material handling has been developed to provide personnel safety. In addition, a remote control operation station enables a single operator to safely monitor and run multiple machines simultaneously. "We worked directly with Siemens to develop a new motion control solution within Gemcor that supports the SINUMERIK software platform," shared Friz. "The ability to execute closed-loop force feedback with drilling and riveting operations with Siemens' state-of-the-art controller has reduced cycle times while providing a familiar solution for our customers. We pride ourselves at Ascent on our ability to be flexible throughout our design and engineering process, where we work closely with each customer to provide systems that meet specific facility needs and exceed quality expectations." Gemcor products offer fastening applications to provide efficient fastening rates and high productivity for airframers. Gemcor's latest in a range of technological enhancements includes incorporating continuous improvement processes into its SCADA system to provide critical data for customer-defined KPIs and clear, customizable reports. "This will allow manufacturers to access a user-friendly dashboard that shows how the system is performing," shared Nick Battle , General Manager - MI at Ascent Aerospace. "Using machine learning, this feature will also provide predictive maintenance and process action suggestions, OEE, and Statistical Process Control (SPC)." The integration of machine learning is just one important development of many when it comes to Gemcor's capabilities. Additional features using the latest technologies to enhance Gemcor's systems for customers include various software integrations and the use of AI deep learning to optimize performance and reduce cycle times. "Our goal at Ascent with Gemcor product development has been to increase accuracy, repeatability, and reliability while saving our customers time and resources throughout their manufacturing life-cycle. We have achieved this with the help of industry partners and the dedication and hard work of our talented employees," added Battle. Ascent is continuously adapting Gemcor to meet customers' changing needs as technology advances. "From process engineering to build and installation, our process is to work closely with customers to develop their projects and see them through to ensure we are providing an efficient and cost-effective solution." Additional Gemcor Production Solutions features: Quality inspection capabilities through SCADA machine-level and factory-level integration Modernized solutions using smart manufacturing that save on cost Vision-based solutions for quality inspection with integrated machine-learning capabilities for increased efficiency Process control enhancements to include fastener verification, sealant optimization, edge and feature detection for resync, and debris and chip detection for smoother production Reduce cycle times with all-electric head configurations and Gemcor's high-speed linear head Active Panel Protection (APP) with pressure foot force feedback, deflection, monitoring, and compensation for quality control Ascent Offline Programming (in-house solution), Vericut Drilling and Fastening Simulation System (VDAF), and other software integrations available by request With offerings for a range of applications – from fuselages, wings, to engine nacelles and ducts, to its complete range of system regulations to include stand-alone riveters, semi-automatic systems, full multi-access CNC systems, and robot-based systems – Gemcor is a proven leader in automated drilling and fastening systems and is the factory solution to meet current demand across aerospace markets. Ascent Aerospace is a world-renowned, factory solutions provider of production and automated assembly systems for space, defense, and commercial aerospace industries. In addition to Gemcor Production Solutions, Ascent produces a full suite of both mold and assembly tooling required for the aerospace manufacturing market, including the largest Invar molds ever made— making Ascent the largest tooling group in the industry. As a true factory solutions partner, Ascent has the technology to support customers' builds throughout the lifecycle of their program. For inquiries regarding Gemcor Production Solutions, contact Al Bolen at [email protected] . Learn more at: https://ascentaerospace.com/ Contact: Dan Friz [email protected] SOURCE Ascent Aerospace
Report recommends against sports betting kiosksSAN FRANCISCO--(BUSINESS WIRE)--Dec 19, 2024-- Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced that it will host an Investor Day on Wednesday, March 12, 2025. The event is expected to start at 1:00 p.m. Eastern time (10:00 a.m. Pacific time) and conclude at approximately 3:30 p.m. Eastern time (12:30 p.m. Pacific time). This event will be held at the New York Stock Exchange in New York, NY. A live webcast will also be accessible from the Cloudflare investor relations website at cloudflare.NET . A replay of the presentations will be available following the completion of the event. About Cloudflare Cloudflare, Inc. (NYSE: NET) is the leading connectivity cloud company. It empowers organizations to make their employees, applications and networks faster and more secure everywhere, while reducing complexity and cost. Cloudflare’s connectivity cloud delivers the most full-featured, unified platform of cloud-native products and developer tools, so any organization can gain the control they need to work, develop, and accelerate their business. Powered by one of the world’s largest and most interconnected networks, Cloudflare blocks billions of threats online for its customers every day. It is trusted by millions of organizations – from the largest brands to entrepreneurs and small businesses to nonprofits, humanitarian groups, and governments across the globe. Learn more about Cloudflare’s connectivity cloud at cloudflare.com/connectivity-cloud . Learn more about the latest Internet trends and insights at radar.cloudflare.com . Follow us: Blog | X | LinkedIn | Facebook | Instagram View source version on businesswire.com : https://www.businesswire.com/news/home/20241219983219/en/ CONTACT: Investor Relations Information Phil Winslow, CFA ir@cloudflare.comPress Contact Information Daniella Vallurupalli press@cloudflare.com KEYWORD: CALIFORNIA NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: NETWORKS INTERNET SECURITY TECHNOLOGY SOFTWARE SOURCE: Cloudflare, Inc. Copyright Business Wire 2024. PUB: 12/19/2024 04:15 PM/DISC: 12/19/2024 04:13 PM http://www.businesswire.com/news/home/20241219983219/en
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