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A top US official sought to quell growing concern Sunday over reported drone sightings in the country's northeast, reiterating there was no known security threat as authorities monitor the situation. President Joe Biden's administration has faced mounting criticism for not clearly identifying origins of the objects seen hovering over parts of New York and New Jersey. The criticism has come even from Biden's own party, with top Democratic Senator Chuck Schumer calling Sunday for action to make it easier for federal, state and local authorities to work together to detect and if need be "bring down" any drone seen to pose a threat. Video footage of mysterious airborne phenomena recently has clogged social media, with spottings also reported in Maryland and Virginia. "Some of those drone sightings are, in fact, drones. Some are manned aircraft that are commonly mistaken for drones," Homeland Security Secretary Alejandro Mayorkas said Sunday on ABC's "This Week" program. "But there's no question that drones are being sighted," he said, noting there are more than one million registered across the United States. "I want to assure the American public that we are on it," he said. "If we identify any foreign involvement or criminal activity, we will communicate with the American public accordingly. Right now, we are not aware of any." Even as Mayorkas sought to reassure the public, Boston police announced Sunday that two Massachusetts men had been arrested the previous night for allegedly conducting a "hazardous drone operation" near the city's Logan International Airport. State police were conducting a search for a third suspect, who authorities said fled the scene. Schumer, in a letter to Mayorkas Sunday, urged the Department of Homeland Security to immediately deploy special drone-detection technology across New York and New Jersey, since traditional radar struggles to detect such small objects. He also called for passage of legislation to explicitly authorize state and local law enforcement to work with federal agencies to detect and "bring down drones that threaten critical facilities or mass gatherings." Jim Himes, the top Democrat on the House Intelligence Committee, meanwhile expressed frustration at the Federal Aviation Administration (FAA) over its communications around the issue. "The answer 'we don't know' is not a good enough answer," he told "Fox News Sunday." "When people are anxious... people will fill a vacuum with, you know, their fears and anxieties and conspiracy theories," he said, calling for the FAA to hold public briefings. White House national security spokesman John Kirby had previously said the aircraft could be lawfully operated planes or helicopters mistaken for drones. "While there is no known malicious activity occurring, the reported sightings there do, however, highlight a gap in authorities," he said Thursday, calling for Congress to pass new legislation to "extend and expand existing counter-drone authorities." New York Governor Kathy Hochul announced Sunday that authorities had agreed to send a drone detection system to her state. "I am grateful for the support, but we need more. Congress must pass a law that will give us the power to deal directly with the drones," she said on X. On Friday, President-elect Donald Trump urged federal authorities to clearly identify the drones' origins. "Let the public know, and now. Otherwise, shoot them down!!!" he posted on social media. As the price of drones has fallen -- small quadcopter models with Wi-Fi camera capability can be purchased for as little as $40 -- their numbers and popularity have soared, making their presence in American skies a greater concern. acb/des/bbk/mlm
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here . > Philadelphia news 24/7: Watch NBC10 free wherever you are Markets in the red U.S. markets retreated on Thursday as investors assessed hotter-than-expected wholesale inflation numbers. The pan-European Stoxx 600 saw a 0.14% decline amid a rate cut by the region's central bank. Shares of Brunello Cucinelli jumped 8% after the Italian luxury brand raised its annual forecast for 2024. U.S. producer prices still hot U.S. producer prices rose 0.4% in November, higher than the Dow Jones consensus estimate of 0.2%. On an annual basis, PPI advanced 3%, the most since the 12 months ended February 2023. The hotter-than-anticipated increase in producer prices comes after headline consumer prices rose at a sharper annual rate in November compared with the prior month. Inflation in India cools India's headline inflation rate came in at 5.48% in November, lower than the 5.53% expected by a Reuters poll and the 6.21% in October. The reading follows a disappointing quarter of economic growth for India and a new central bank governor , raising hopes that the Reserve Bank of India might cut rates at its next meeting in February. ECB cuts rates On Thursday, the European Central Bank lowered its key interest rate to 3%, reducing it by an expected 25 basis points. The bank also lowered its forecast for euro zone economic growth in 2024 to 0.7% from a prior forecast of 0.8%, and growth in 2025 to 1.1% from 1.3%. [PRO] Tom Lee makes his 2025 predictions Fundstrat's Tom Lee has a history of correct calls. Not only did he nail this year's rally, he also saw the S&P 500 rebounding in 2020 after the pandemic-caused crash earlier that year. Lee lays out his predictions for the stock market — and bitcoin — for 2025. The U.S. producer price index, which measures the increase in wholesale prices, came in higher than expected on Thursday. A day earlier, the U.S. consumer price index showed annual inflation in November ticked up from the previous month. Those numbers might have been a tad uncomfortable to handle, and the markets didn't want to take inflation hot to go. The yield on the 10-year Treasury note — which affects longer-term rates such as mortgages and corporate loans — jumped to 4.334%. Major indexes also fell. The S&P 500 lost 0.54% and the Dow Jones Industrial Average dropped 0.53%, its sixth consecutive day in the red. The Nasdaq Composite dipped below the 20,000 level after retreating 0.66%, weighed down by losses in tech stocks. Adobe shares slumped 13.7%, their steepest drop in more than two years, after the company gave disappointing guidance for its fiscal first-quarter revenue. That said, the Nasdaq might find some reprieve the next day. Broadcom shares popped 14% in extended trading after releasing its earnings, which showed the chipmaker increasing its artificial intelligence revenue by 220% for the year. Even prior to announcing its better-than-expected earnings, Broadcom had been earning praises from analysts. "Broadcom was previously considered a value stock, but it could now be seen as a growth stock. However, it appeals to both, thanks to its continued dividend payments and growth," Nancy Tengler, CEO and chief investment officer of Laffer Tengler Investments, said in a note to clients. Indeed, the company's stock has surged 66.5% year to date — a figure that puts Broadcom in the league of the Magnificent Seven companies: Shares of Amazon are up 52.7% and that of Apple have risen 33.6% for the year. It's important, then, to keep stocks' sterling performance this year in mind even as investors wonder what it'll take to get inflation numbers below the U.S. Federal Reserve's target of 2%. — CNBC's Pia Singh, Sean Conlon and Lisa Hakyung Kim contributed to this report.Former cyber czar urges vigilance — "it's not the attackers... it's us"
NoneMARTIN, Tenn. (AP) — Tarence Guinyard scored 31 points as UT Martin beat Champion Christian 123-56 on Sunday night. Guinyard added eight rebounds and five assists for the Skyhawks (4-7). Josue Grullon scored 23 points while shooting 8 for 16, including 7 for 13 from beyond the arc and added eight rebounds. Matija Zuzic shot 6 for 14, including 5 for 12 from beyond the arc to finish with 17 points. The Tigers were led in scoring by Noah Brooks, who finished with 14 points and two blocks. Champion Christian, a member of the Association of Christian College Athletics, also got 11 points from Adrian Brown. KJ Younge finished with nine points and three steals. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
Donald Trump is reiterating his threat to impose steep tariffs on Canadian goods if the federal government doesn't take action on border security — and a former official from his first administration says the U.S. president-elect isn't bluffing. "I'm a big believer in tariffs. I think tariffs are the most beautiful word.... It's going to make us rich," Trump said on NBC's that aired on Sunday. The president-elect continued to extol the power of tariffs and said they're "a powerful tool not only economically, but also for getting other things outside of economics." As an example, Trump referred to his threat to on products from Canada and Mexico unless they curb the flow of drugs and migrants across their borders. Four days after the threat was issued, Prime Minister Justin Trudeau for a surprise dinner. The president-elect joked about the saga in his NBC interview. "In fact, [Trudeau] flew to Mar-a-Lago within about 15 seconds after the call," Trump said. The president-elect also said he told Trudeau that Canada has to "close up" its border and that "drugs are pouring in at levels never seen before." "And I said to the president of Mexico and to Justin Trudeau, if it doesn't stop, I'm going to put tariffs on your country at about 25 per cent," Trump said. Prime Minister Justin Trudeau dined with U.S. president-elect Donald Trump in late November. Trump described the meeting as 'very productive' on his social media platform Truth Social. (@JustinTrudeau/X) Ken Cuccinelli, a former official in the Department of Homeland Security during Trump's first administration, said the president-elect's tariff threat is "very serious" given the issues at hand. "And I think one of the things that people around the world know about Donald Trump is that he will follow through with things like this," Cuccinelli said in an interview on that aired Sunday. When asked what he thinks can be done to protect the Canada-U.S. border, Cuccinelli said that he "wouldn't expect the president to give the prime minister a checklist." The goal isn't "zero illegal crossings," he added. Instead, it's about driving them down to "the point where it's not worth people trying to, for example, come to Canada as a way to get into the United States." What Trump specifically in exchange for removing his tariff threat still isn't clear, according to Canadian officials familiar with the details of the surprise dinner in Florida. The federal government in the wake of the Trudeau-Trump meeting, including adding more helicopters and drones to tighten up monitoring of the Canada-U.S. border. David Cohen, the outgoing U.S. ambassador to Canada, said the Biden administration has not proposed a 25 per cent across-the-board tariff because of concerns it would contribute to inflation and lead to job losses in both countries. "I think in the end, the value of that from a trade perspective is not going to be very compelling," he told Rosemary Barton. Cohen also said there's a "pretty clear window" for Canada and the United States to work through the issues underlying Trump's tariff threat.Healey: Proscription status of Syria’s new rulers is not a matter for now
Nvidia Stock Falls 3% On Rare Downgrade, Missed 'Bullish Whispers'WASHINGTON — NASA has refined its strategy for future robotic exploration of Mars, advocating for a regular cadence of smaller missions to answer key questions in advance of human missions. NASA released Dec. 11 its “Expanding the Horizons of Mars Science” plan , which outlines a strategy for the next 20 years that calls for flying low-cost missions at every launch opportunity while taking more advantage of commercial and international partnerships. NASA released a draft version of that plan in March 2023 and the final version is “not dramatically different,” Eric Ianson, director of the Mars Exploration Program at NASA Headquarters, said at a side meeting during the annual American Geophysical Union conference to discuss the plan. “Previously, we had presented a 25-or-so-page PowerPoint package and now we’re rolling out a 154-page written document.” The plan focuses on a “science-driven robotic Mars program” separate from Mars Sample Return, which is going through a separate agency review on ways to reduce its cost and schedule expected to wrap up before the end of the year. It also does not include any future human missions to the planet. What the document does offer is a strategy of future robotic missions that can tackle key science questions about Mars, including any evidence of past or present life, while also laying the scientific groundwork for future crewed missions. The strategy has three “co-equal” science themes, said Becky McCauley Rench, program scientist in NASA’s planetary science division and co-lead of the study. One, called “exploring the potential for Martian life,” is focused on looking for any evidence of life on Mars. “Did life ever arise on Mars, and if so, does it exist today?” she said. “If life never developed, why not?” A second theme, “supporting the human exploration of Mars,” is looking at the “synergistic observations” that could be made with robotic missions ahead of the first crewed missions, including key knowledge gaps to fill. “How can we prepare to maximize that precious human time on the surface and the resources in connection with the export community here on Earth?” she said. The third theme, called “revealing Mars as a dynamic planetary system,” includes other science topics, with an emphasis on comparative planetology. “We want to learn as much about Mars as we know about Earth,” she said. To perform the science in those three themes, the plan advocates a regular series of mission, focusing on smaller spacecraft. “This program is looking at changing the paradigm of how we think about Mars missions,” Ianson said. “Every opportunity there is when a launch window opens up, can we send something up?” “We want to do that with lower-cost missions that are science driven and has the capability of providing flexible, rapid response to discoveries,” said McCauley Rench, “not necessarily taking 10 years between thinking about a mission and actually seeing it launch.” Those smaller missions, with projected costs of $100 million to $300 million each, would focus on specific scientific questions with a single instrument or small suite of instruments. NASA proposes to augment them with less frequent but larger missions with more complex instruments. An example would by the Mars Life Explorer lander concept included in the planetary science decadal survey. The plan also includes flying payloads as “missions of opportunity” on missions by other space agencies or even commercial missions. Also included is revitalizing what Ianson called “critical and aging infrastructure” at Mars such as communications relays and the high-resolution imagery currently provided by the nearly 20-year-old Mars Reconnaissance Orbiter. Infrastructure is one area where commercial partnerships may contribute to the plan. NASA awarded studies in May to nine companies to examine the feasibility of commercial systems to deliver payloads to Mars and to provide communications and imagery services. Ianson said the studies were promising. “There really is some merit here and we think there is something that merited further studies and further work,” he said, such as how to structure any public-private partnerships to carry out such missions. One issue with commercial Mars missions, he said, will be the business case for companies performing such missions. A simple fee-for-service model, where NASA pays only for the services once provided, “is probably not a totally workable solution,” he said, based on the outcomes of the studies. “There probably needs to be some level of investment through a public-private partnership on the NASA side up front.” The agency is taking initial steps to implement the strategy. NASA’s 2025 budget proposal included $40 million to invest in Mars robotic exploration technologies. NASA is allocating $30 million of that to internal efforts, picking 25 projects out of 90 proposals received from agency centers. The remaining $10 million may be offered to industry and academia for “innovative robotic mobility technologies,” Ianson said. The plan itself does not include any specific mission plans or budget requirements, and Ianson emphasized its flexibility. “Obviously, we would love to do everything in the plan. However, that’s not realistic under challenging budget circumstances and competing priorities,” he said. “I look at this plan less as a roadmap but more as a menu of options to choose from, based on the availability of budget and the most pressing needs to support Mars science.”WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump has invited Chinese President Xi Jinping to attend his inauguration next month — extending a diplomatic olive branch even as Trump threatens to levy massive tariffs on Chinese goods. Trump's incoming press secretary, Karoline Leavitt, confirmed on Thursday that Trump invited Xi, but said it was “to be determined” if the leader of the United States' most significant economic and military competitor would attend. “This is an example of President Trump creating an open dialogue with leaders of countries that are not just our allies, but our adversaries and our competitors too,” Leavitt said in an appearance on Fox News' program ”Fox & Friends." “We saw this in his first term. He got a lot of criticism for it, but it led to peace around this world. He is willing to talk to anyone and he will always put America’s interest first.” CBS News first reported the invitation to Xi. Asked at a Chinese Foreign Ministry briefing on Thursday about Trump's invitation, spokesperson Mao Ning responded: “I have nothing to share at present.” Leavitt said that other foreign leaders have also been invited, but did not provide any details. The move by Trump to invite a leader of an adversarial nation to the American moment that is Inauguration Day is unorthodox. But it also squares with his belief that foreign policy—much like a business negotiation—should be carried out with carrots and sticks to get the United States' opponents to operate closer to his administration's preferred terms. Jim Bendat, a historian and author of “Democracy’s Big Day: The Inauguration of Our President,” said he was not aware of a previous U.S. inauguration attended by a foreign head of state. “It's not necessarily a bad thing to invite foreign leaders to attend,” Bendat said. “But it sure would make more sense to invite an ally before an adversary.” Edward Frantz, a presidential historian at the University of Indianapolis, said the invitation helps Trump burnish his “dealmaker and savvy businessman” brand. “I could see why he might like the optics," Frantz said. “But from the standpoint of American values, it seems shockingly cavalier." White House officials said it was up to Trump to decide whom he invites to the inauguration. “I would just say, without doubt it's the single most consequential bilateral relationship that the United States has in the world,” White House national security spokesman John Kirby said. “It is a relationship both fraught with peril and responsibility.” Trump on Thursday during an appearance at the New York Stock Exchange , where he was ringing the opening bell to open the market, said he’s been “thinking about inviting certain people to the inauguration” without referring to any specific individuals. “And some people said, ‘Wow, that’s a little risky, isn’t it?’” Trump said. “And I said, ‘Maybe it is. We’ll see. We’ll see what happens.’ But we like to take little chances.” Meanwhile, a top aide to Hungarian President Viktor Orban, one of Trump's most vocal supporters on the world stage, said Thursday that Orban isn't slated to attend the inauguration. “There is no such plan, at least for the time being," said Gergely Gulyás, Orban's chief of staff. The nationalist Hungarian leader is embraced by Trump but has faced isolation in Europe as he's sought to undermine the European Union's support for Ukraine, and routinely blocked, delayed or watered down the bloc’s efforts to provide weapons and funding and to sanction Moscow for its invasion. Orban recently met with Trump at Mar-a-Lago. Every country's chief of mission to the United States will also be invited, according to a Trump Inaugural Committee official who was not authorized to comment publicly and spoke on condition of anonymity. The invitation comes as Trump has vowed to enact massive tariffs on Canada, Mexico and China to get those countries to do more to reduce illegal immigration and the flow of illegal drugs such as fentanyl into the United States. He has said that, on his first day in office in January, he would impose 25% tariffs on all goods imported from Mexico and Canada and that China could be hit with even higher tariffs. China produces precursor chemicals used in the production of fentanyl, but Beijing has stepped up efforts over the last year to crack down on the export of the chemicals. “We’ve been talking and discussing with President Xi, some things, and others, other world leaders, and I think we’re going to do very well all around,” Trump said in a CNBC interview Thursday. Xi during a meeting with President Joe Biden last month in Peru urged the United States not to start a trade war. “Make the wise choice,” Xi cautioned. “Keep exploring the right way for two major countries to get along well with each other.” Canadian Prime Minister Justin Trudeau has also pushed back on Trump's threats, warning such a tariffs move would be perilous for the U.S. economy as well. Trudeau earlier this week said that Americans “are beginning to wake up to the real reality that tariffs on everything from Canada would make life a lot more expensive” and said he will retaliate if Trump goes ahead with them. Trump responded by calling Canada a state and Trudeau the governor. In addition to the tariff dispute, U.S.-China relations are strained over other issues, including what U.S. officials see as Beijing indirectly supporting Russia's war on Ukraine. The Biden administration says China has supported Russia with a surge in sales of dual use components that help keep its military industrial base afloat. U.S. officials also have expressed frustration with Beijing for not doing more to rein in North Korea's support for the Russian war. China accounts for the vast majority of North Korea’s trade. North Korean leader Kim Jong Un has dispatched thousands of troops to Russia to help repel Ukrainian forces from the Kursk border region. The North Koreans also have provided Russia with artillery and other munitions, according to U.S. and South Korean intelligence officials. Trump’s Jan. 20 inauguration takes place a day after the U.S. deadline for ByteDance, the Chinese parent company of social media giant TikTok, to sell the social media app or face a ban in the United States. — Associated Press writer Balint Domotor in Budapest, Hungary, contributed reporting.
BATAVIA, Ill., Nov. 22, 2024 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity, reported results for continuing operations for the three months and nine months ended September 30, 2024. All comparisons are to the same year-ago period unless otherwise noted. The following results are from continuing operations following the divesture of the company's technology enablement services business on June 27, 2024. The company's current business segments include Overwatch managed cybersecurity services and SVC telecom services. Q3 2024 Operational Highlights "In Q3, we saw continued revenue growth from our Overwatch managed cybersecurity and telecom businesses as we began to realize the benefits of the strategic realignment we initiated in the second quarter,” stated High Wire CEO, Mark Porter. "This realignment included the divestiture of our IT enablement services business so we could focus on the greater and more rewarding opportunities in managed cybersecurity. "The strong momentum we've experienced with our current business in Q3, including higher average monthly recurring revenue from new and expanded engagements, validates this transition. It also reinforces our strategy of targeting larger channel partners and enterprise-level opportunities in the cybersecurity space. "Our Overwatch growth in the quarter is perhaps even more impressive when considering the distraction of the IT divestiture and our transition to focus on Overwatch. Our sharper focus on Overwatch resulted in the full realignment of our Overwatch management team with certain departures and key news hires designed to better prepare us for the accelerating growth we see ahead. "The new appointments included Ed Vasko as our new Overwatch CEO, Mark Dallmeier as chief revenue officer, and Michael Lieder as senior director of Overwatch's service delivery and products. Together, they have refined our go-to-market strategy around larger partners, paving the way for strong growth ahead. "During the quarter we also implemented efficiencies that decreased our operating expenses by 21% versus the same year-ago quarter. This substantial improvement demonstrates the effectiveness of our operating strategies and leverage in our model, which includes the application of advanced AI automation and engineering. "Altogether, these efforts have resulted in the largest pipeline of large deals in our company's history, with several in the final closing stages and supporting our path to profitability. Combined with now a much cleaner capital structure, we are well positioned for an uplisting to a major exchange - especially how the capital markets are looking the best they've been in many months. Capable players have expressed strong interest and confidence in helping us with such an endeavor. "Last month, we were honored to be recognized for the fourth consecutive year by MSSP Alert as a Top 100 provider in the managed security service space. This achievement reflects our team's dedication to delivering cutting-edge solutions through our Overwatch ecosystem, including managed XDR and advanced edge protection. We believe these solutions meet the evolving needs of our partners and customers like none other on the market today. "Looking ahead, we remain confident in our ability to capitalize on the new foundation we've established. Our diversified service offerings in secure voice, combined with enhanced compliance and quality, are attracting new customers and unlocking additional revenue streams. "As we progress through the final quarter of the year and into 2025, we expect accelerating growth with this supporting significant profitability by the second half of the new year. This positive outlook, coupled with the strengthening macroeconomic sentiment among our partners, positions us well for executing our managed cybersecurity strategy and delivering greater shareholder value.” Q3 2024 Financial Summary Revenue in the third quarter of 2024 totaled $2.1 million, an increase of 4% from $2.0 million in the same year-ago quarter. The increase in revenue reflects an increase in revenue from the company's Overwatch managed cybersecurity business. At the end of the third quarter of 2024, Overwatch was generating monthly recuring revenue of approximately $0.4 million or $4.8 million on an annualized basis. Gross profit totaled $0.7 million or 33.1% of revenue in the third quarter, improving from $0.6 million or 32.6% of revenue in the same year-ago quarter. The increase in gross profit in the third quarter of 2024 was primarily due to the business moving towards a more scalable, efficient cyber platform as well as the efficiencies gained by continued improvements in the company's automation capabilities. Total operating expenses decreased 21% to $3.6 million compared to $4.6 million from the same year-ago quarter. The decrease is due to decreases in salaries and wages expenses of $0.8 million, general and administrative expenses of $812,000, and depreciation and amortization of $12,000. Net loss from continuing operations in the third quarter of 2024 totaled $1.7 million or $(0.01) per diluted share, compared to a net loss from continuing operations of $3.8 million or $(0.01) per diluted share in the same year-ago quarter. Net loss attributable to High Wire Networks common shareholders in the third quarter of 2024 totaled $1.7 million or $(0.01) per diluted share, compared to a net loss of $3.6 million or $(0.01) per diluted share in the same year-ago quarter. First Nine Months of 2024 Financial Summary Revenue in the first nine months of 2024 totaled $6.1 million, an increase of 8% from $5.6 million in the same year-ago period. The increase in revenue reflects the same reasons described above. In the first nine months of 2024, the Overwatch managed cybersecurity business contributed revenue of $3.1 million, as compared to $2.9 million in the same year-ago period. Gross profit totaled $2.4 million or 39.8% of revenue in the first nine months of 2024 as compared to $1.7 million or 29.6% of revenue in the same year-ago period. The increase in gross profit reflects the same reasons described above. Total operating expenses decreased 7% to $12.2 million compared to $13.0 million from the same year-ago period. The decrease is primarily due to decreases in general and administrative expenses of $1.2 million and depreciation and amortization of $6,000. Net loss from continuing operations in the first nine months of 2024 totaled $7.7 million or $(0.03) per diluted share, compared to a net loss from continuing operations of $6.4 million or $(0.02) per diluted share in the same year-ago period. Net income attributable to High Wire Networks common shareholders in the first nine months of 2024 totaled $2.0 million or $0.01 per diluted share, compared to a net loss of $7.5 million or $(0.03) per diluted share in the same year-ago period. The first nine months of 2024 included a gain on the sale of the company's technology enablement business for approximately $8 million. About High Wire Networks High Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity. Through over 200 channel partners, it delivers trusted managed services for more than 1,100 managed security customers worldwide. End-customers include Fortune 500 companies and many of the nation's largest government agencies. Its U.S. based 24/7 Network Operations Center and Security Operations Center is located in Chicago, Illinois. High Wire was ranked by Frost & Sullivan as a Top 15 Managed Security Service Provider in the Americas for 2024. It was also named to CRN's MSP 500 and Elite 150 lists of the nation's top IT managed service providers for 2023 and 2024. Learn more at HighWireNetworks.com . Follow the company on X , view its extensive video series on YouTube or connect on LinkedIn . Forward-Looking Statements The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate,” "appear,” "believe,” "could,” "estimate,” "expect,” "hope,” "indicate,” "intend,” "likely,” "may,” "might,” "plan,” "potential,” "project,” "seek,” "should,” "will,” "would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations. High Wire Contact Mark Porter Chief Executive Officer High Wire Networks Tel +1 (952) 974-4000 Email contact Investor & Media Relations: Ronald Both or Grant Stude CMA Investor & Media Relations Tel +1 (949) 432-7557 Email contact Condensed consolidated statements of operations (Unaudited) September 30, September 30, taxes tax Inc. common shareholders Networks, Inc. common shareholders, basic:(The Center Square) – Billionaire and advisor to President-elect Donald Trump Elon Musk was denied by a judge this week a $56 billion compensation package for his work as CEO of Tesla, the successful electric automaker that pioneered EV technology in the U.S. The package had been approved by more than 70% of Tesla's board of directors. A Tesla shareholder who owned just nine shares of stock in the company sued to block the 2018 compensation agreement. In addition to blocking the package this week, the judge in the case, Delaware Chancellor Kathaleen McCormick, awarded the plaintiff's attorneys $345 million, which Reuters reported is “one of the largest fee awards ever in securities litigation.” The Associated Press reported that “the fee award amounts to almost exactly half the current record $688 million in legal fees awarded in 2008 in litigation stemming from the collapse of Enron.” The ruling was widely criticized as government overreach into the private sector. Cathie Wood, founder and CEO of ARKinvest, called the ruling a "mockery." "Adding judicial insult to injury, Delaware Judge McCormick has ordered #Tesla shareholders to pay the plaintiff’s lawyers $345 million! The plaintiff owned 9 shares of $TSLA," Wood wrote on X. "McCormick is making a mockery of the sense of fairness essential to our American judicial system." Pershing Square CEO Bill Ackman wrote: "This decision and the payola for lawyers is absurd. We are going to see a migration of Corporate America from Delaware." The unique compensation package was high risk, high reward. If Musk hit all of his target goals to make the company hugely successful, as he did, then he would be awarded the compensation package. If he did not hit those marks, he would receive zero dollars. Musk and Tesla vowed to appeal. McCormick first voided the pay agreement in January, saying it was unfair and that the Tesla board did not negotiate well enough with Musk. In response, a supermajority of more than 70% of Tesla shareholders voted to approve the payment package for Musk earlier this year, but again McCormick sided this week against Musk and Tesla shareholders. Musk called the ruling a form of “lawfare.” “Shareholders should control company votes, not judges,” Musk wrote on X. Many other Tesla shareholders blasted the decision and the attorney fee decision. "The lawyers, judges, and attorneys did not create net-positive shareholder value from this clownery," Alex Guichet, who said he is a Tesla employee, wrote on X. "They do not deserve a single dollar. We employees did. We supported the shareholder vote with our own yes votes too. This is wrong on so many levels." Shareholder Jeremy Goldman wrote: "The majority of the owners of the company have made their desires known and it's just crazy that a single judge can basically say haha, no. I don't really care what you want. Also pay a few hundred million for the privilege of being ignored." The plaintiff's attorneys praised the ruling. “We are pleased with Chancellor McCormick’s ruling, which declined Tesla’s invitation to inject continued uncertainty into Court proceedings and thank the Chancellor and her staff for their extraordinary hard work in overseeing this complex case,” attorneys from Bernstein, Litowitz, Berger & Grossmann, the firm representing Musk’s opponents, said in a statement. A November 2024 study published by the U.S. Chamber of Commerce Institute for Legal Reform found tort costs amounted to $529 billion in 2022, or 2.1 percent of U.S. GDP. The study found that excessive tort costs hurt the economy. "In addition to having a substantial aggregate cost on the economy, a large portion of the total tort-related expenditures go toward litigating and defending claims and lawsuits rather than compensating claimants,” authors of the study wrote.
MHA promotes Gilani (IPS) to DGP rank JAMMU: The Ministry of Home Affairs, Government of India has ordered the promotion of senior IPS Officer, Syed Javaid Mujtaba Gilani to the DGP Grade with effect from the date of assumption of charge. An order issued by Rakesh Kumar Singh, Under Secretary to Government of India, reads: “In pursuance to the recommendations of the Screening Committee in its meeting held on 20.12.2023 and with the approval of the Competent Authority, Syed Javaid Mujtaba Gilani, IPS (AGMUT:1994) is herby promoted to the DGP Grade (Level-16 IN THE PAY MATRIX) with effect from the date of assumption of charge”. UP Invites LG For Maha Kumbh Mela Jammu: Uttar Pradesh government on Thursday extended an invitation to Jammu and Kashmir Lt Governor Manoj Sinha for his participation in Maha Kumbh Mela. Organised every 12 years, the Maha Kumbh will be held from January 13 to February 26 in UP’s in Prayagraj. Over 40 crore people are expected to attend the mela, making it a record-breaking event. On behalf of the UP CM Yogi Adityanath, science and technology minister Anil Kumar and Minister of State for minority welfare Danish Azad Ansari reached Jammu to handover the invitation to the LG and chief minister Omar Abdullah. “We are here on the directions of CM Adityanath to extend an invitation to LG Sinha, CM Abdullah and all the people for the Maha Kumbh, which is a symbol of India’s great culture and diversity besides an opportunity to carry forward our heritage,” Ansari told reporters. Prime Minister Narendra Modi is visiting Prayagraj tomorrow to personally oversee the arrangements made by the UP government for the Maha Kumbh, the minister said. Meanwhile, minister Kumar said they are in Jammu and Kashmir to invite the people to “take a dip in the confluence of faith”. “We are meeting LG shortly and will also call upon the chief minister later in the day to hand over the invitation to them,” he said. Responding to a question on the security measures for the mega event, Kumar said a seven-layered security cordon covering both outer and inner circles will be ensured for the safety of the devotees. Asked whether the invitation will be extended to Congress leaders after they skipped Ram temple inauguration in Ayodhya, he said this is a religious affair and the UP CM has formed various two-member teams to visit all parts of the country to extend invitations to the chief ministers and others. He said the railways are running special trains to facilitate the devotees to reach the venue. They also requested for the participation of cultural organisations and citizens from across Jammu Kashmir in this sacred festival, it said.
Cartier Intersects High Grade Values on Globex’s Nordeau West Royalty ClaimsBOCA RATON, Fla. (AP) — Tre Carroll scored 18 points off the bench to lead Florida Atlantic to an 89-80 victory over Texas State on Saturday. Carroll shot 7 of 9 from the field and 4 of 4 from the free-throw line for the Owls (7-5). Niccolo Moretti scored 15 points, shooting 4 of 6 from the field and 6 for 7 from the line. Matas Vokietaitis shot 5 of 8 from the field and 3 of 8 from the free-throw line to finish with 13 points. The Bobcats (7-4) were led by Tyler Morgan, who posted 19 points, six rebounds and five assists. Tylan Pope added 14 points and three blocks. Josh O'Garro finished with 13 points, nine rebounds and two blocks. Texas State had a five-game win streak end. Florida Atlantic took the lead with 51 seconds to go in the first half and never looked back. The score was 43-40 at halftime, with Vokietaitis racking up 11 points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
