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PHILADELPHIA, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder lawsuit has been filed against Zuora, Inc. (NYSE: ZUO) (“Zuora”) in connection with the sale of the company to Silver Lake at $10.00 per share. Click here to submit your information: https://kaskelalaw.com/case/zuora/ Under the terms of the buyout offer, Zuora stockholders are only expected to receive $10.00 per share in cash in exchange for their ZUO shares. Notably, at the time the proposed buyout at $10.00 per share was announced, numerous stock analysts were maintaining price targets for ZUO shares in excess of $12.00 per share . Following the closing of the proposed transaction, Zuora’s stockholders will be cashed out of their investment position and the company’s shares will no longer be publicly traded. Zuora shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 to receive additional information about this matter and their legal rights and options with respect to the proposed buyout. Alternatively, investors may submit their information to the firm by clicking on the following link (or by copying and pasting the link into your browser): https://kaskelalaw.com/case/zuora/ Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com . CONTACT: KASKELA LAW LLC D. Seamus Kaskela, Esq. ( skaskela@kaskelalaw.com ) Adrienne Bell, Esq. ( abell@kaskelalaw.com ) 18 Campus Blvd., Suite 100 Newtown Square, PA 19073 (888) 715 – 1740 (484) 229 – 0750 www.kaskelalaw.com This notice may constitute attorney advertising in certain jurisdictions.NonePrince Harry and Meghan Markle deeply ‘hurt’ by German documentary 'Harry - The Lost Prince', claims source
The benchmark for world food commodity prices rose in November to its highest level since April 2023, increasing by 0.5 percent from October, driven by surging international vegetable oil quotations, the Food and Agriculture Organization of the United Nations (FAO) reported Friday. The FAO Food Price Index, which tracks monthly changes in the international prices of a set of globally-traded food commodities, averaged 127.5 points in November, up 5.7 percent from a year ago while still 20.4 percent below its March 2022 peak. The FAO Vegetable Oil Price Index increased by 7.5 percent in November from October, marking its second large increase in two months and 32 percent higher than its year-earlier level. Global palm oil prices climbed further amid concerns about lower-than-expected output due to excessive rainfall in Southeast Asia. World soyoil prices rose on global import demand, while rapeseed and sunflower oil quotations increased as tightening global supply prospects affected their respective markets. The FAO Dairy Price Index maintained its upward trajectory in November, increasing by 0.6 percent from October, driven by rebounding global import demand for whole milk powder. Butter prices reached a new record level amid strong demand and tight inventories in Western Europe, while cheese prices rose due to limited export availabilities. The other sub-indexes posted declines in November. The FAO Cereal Price Index dropped by 2.7 percent, down 8.0 percent below a year earlier. Global wheat prices declined due to weaker international import demand and increased supplies from the ongoing harvests in the Southern Hemisphere. World maize prices remained stable as strong domestic demand in Brazil and Mexico’s demand for supplies from the United States of America were offset by favorable weather in South America, reduced demand for Ukrainian supplies and seasonal pressure from the ongoing U.S. harvest. The FAO All-Rice Price Index declined by 4.0 percent in November, driven by increased market competition, harvest pressures and currency fluctuations. The FAO Sugar Price Index declined by 2.4 percent from October, impacted by the start of the crushing season in India and Thailand and eased concerns over next year’s sugarcane crop prospects in Brazil, where recent rains have improved soil moisture. The FAO Meat Price Index decreased by 0.8 percent in November, due mainly to lower quotations for pig meat in the European Union, reflecting abundant supplies and persistently subdued global and domestic demand. World ovine and poultry meat prices fell slightly, while international bovine meat quotations remained stable, with higher Brazilian export prices offset by lower Australia prices. Updated forecasts point to declining cereal stocks-to-use ratio According to FAO’s new Cereal Supply and Demand Brief, also released on Friday, global cereal production in 2024 is forecast to decline by around 0.6 percent from the previous year to 2 841 million tonnes, a downward revision from October, yet still the second-largest output on record. Global wheat output for 2024 is expected to be on par with 2023, at 789 million tonnes, while maize output is forecast to decline by 1.9 percent from the previous year to 1 271 million tonnes, due to lower-than-expected yields in the European Union and the United States of America. FAO’s forecast for world rice production in 2024/25 has changed slightly, pointing to a 0.8 percent annual increase to a record high of 538.8 million tonnes. For 2025, softer wheat prices may discourage area expansions of the winter wheat crop underway in the northern hemisphere. Below-normal rainfall in key wheat growing regions in the Russian Federation has led to low soil moisture levels, affecting planting operations. By contrast, favourable soil moisture and government support policies, along remunerative prices, should spur expanded plantings in China and India. Coarse grain crops are being planted in the southern hemisphere. Early indications suggest a contraction in maize sowings in Argentina due to dry conditions and the risk of stunt disease transmitted by leafhoppers. In Brazil, early planting intentions, encouraged by a return of rainfall, point to the same maize area for the 2025 crop. In South Africa, preliminary expectations point to an increase in white maize sowings, driven by record prices, offsetting a contraction in the yellow maize area. World cereal utilization is forecast to grow by 0.6 percent to 2 859 million tonnes in 2024/25, led by anticipated increases in food consumption of rice and wheat. A significant revision from October now forecasts that global cereal stocks will decline by 0.7 percent from their opening levels, resulting in a global cereal stock-to-use ratio of 30.1 percent for 2024/25, down from 30.8 percent in the previous year but still indicating “a comfortable supply level” globally. International trade in cereals in 2024/25 is now forecast at 484 million tonnes, down 4.6 percent from the previous year. Global wheat and maize trade volumes are expected to decline, while rice trade is predicted to increase. The Agricultural Market Information System (AMIS), hosted at FAO, also released its monthly Market Monitor on Friday, In addition to the regular analysis, the report featured a reflection on agricultural commodity markets in 2024 and discusses uncertainties that could affect global commodity markets in 2025. Source: FAOTeam Canada Adding Canadiens’ Montembeault to 4 Nations Face-Off Roster Isn’t Political
Canada Spooked by Trump's Tariff Threat: 'Devastating'Israel and Lebanon's Hezbollah start a ceasefire after nearly 14 months of fighting
Starmer backtracks on ‘tepid bath of decline’ in civil serviceSYDNEY, Dec. 06, 2024 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (ACN 629 842 799) (“IREN”) today announced the closing of its offering of $440 million aggregate principal amount of 3.25% convertible senior notes due 2030 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Key details of the transaction Oversubscribed and upsized from $300 million to $400 million, plus $40 million greenshoe Net proceeds of approximately $425.4 million 3.25% coupon, 30% conversion premium Capped call transactions entered into in connection with the notes are generally expected to provide a hedge upon conversions up to an initial cap price of $25.86 per share, which represents a 100% premium (as compared to the 30% conversion premium under the notes) Citigroup Global Markets Inc and J.P. Morgan Securities LLC acted as joint bookrunners Oversubscribed and upsized In response to strong investor demand, IREN upsized the initial offering size of $300.0 million aggregate principal amount of notes to $400.0 million, and the initial purchasers fully exercised their option to purchase an additional $40.0 million aggregate principal amount of the notes. The notes were issued pursuant to, and are governed by, an indenture, dated as of December 6, 2024, between IREN and U.S. Bank Trust Company, National Association, as trustee. Use of proceeds The net proceeds from the offering are approximately $425.4 million, after deducting the initial purchasers’ discounts and commissions and IREN’s estimated offering expenses. IREN intends to use the net proceeds as follows: $44.4 million to fund the cost of the capped call transactions (described below) $73.7 million to fund the cost of the prepaid forward transaction (described below) General corporate purposes and working capital Capped call transactions In connection with the pricing of the notes and the exercise by the initial purchasers of their option to purchase additional notes, IREN entered into privately negotiated capped call transactions with certain of the initial purchasers or their affiliates and certain other financial institutions (the “option counterparties”). The capped call transactions cover, subject to anti-dilution adjustments, the number of ordinary shares of IREN that initially underlie the notes. The cap price of the capped call transactions is initially $25.86 per share, which represents a premium of 100% over the last reported sale price of IREN’s ordinary shares of $12.93 per share on December 3, 2024, and is subject to certain adjustments under the terms of the capped call transactions. The capped call transactions are expected to generally reduce the potential dilution to IREN’s ordinary shares upon any conversion of the notes and/or offset any potential cash payments IREN is required to make in excess of the principal amount of converted notes, as the case may be, with such offset and/or reduction subject to a cap price. If, however, the market price per ordinary share of IREN, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution and/or there would not be an offset of such potential cash payments, in each case, to the extent that such market price exceeds the cap price of the capped call transactions. The capped call transactions will be solely cash settled unless certain conditions are satisfied. Prepaid forward transactions In connection with the pricing of the notes, IREN also entered into a prepaid forward share purchase transaction (the “prepaid forward transaction”) with one of the initial purchasers of the notes or its affiliate (the “forward counterparty”), pursuant to which IREN purchased approximately $73.7 million of its ordinary shares (based on the last reported sale price of IREN’s ordinary shares on the pricing date), for settlement shortly after the maturity date of the notes, subject to any early settlement, in whole or in part, of the prepaid forward transaction. The prepaid forward transaction will be solely cash settled unless certain conditions are satisfied. The prepaid forward transaction is generally intended to facilitate privately negotiated derivative transactions, including swaps, between the forward counterparty or its affiliates and investors in the notes relating to IREN’s ordinary shares by which investors in the notes will establish short positions relating to IREN’s ordinary shares and otherwise hedge their investments in the notes. As a result, the prepaid forward transaction is expected to allow the investors to establish short positions that generally correspond to (but may be greater than) commercially reasonable initial hedges of their investment in the notes. In the event of such greater initial hedges, investors may offset such greater portion by purchasing IREN’s ordinary shares on or shortly after the day IREN prices the notes. No registration The notes were only offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and any of IREN’s ordinary shares issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any of IREN’s ordinary shares issuable upon conversion of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction (including the United States and Australia) in which such offer, sale or solicitation would be unlawful. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion of the offering and the expected amount and intended use of the net proceeds. Forward-looking statements represent IREN’s current expectations, beliefs, and projections regarding future events and are subject to known and unknown uncertainties, risks, assumptions and contingencies, many of which are outside IREN’s control and that could cause actual results to differ materially from those described in or implied by the forward-looking statements. Among those risks and uncertainties are market conditions and risks relating to IREN’s business, including those described in periodic reports that IREN files from time to time with the SEC. IREN cannot provide any assurances regarding its ability to effectively apply the net proceeds after funding the cost of entering into the capped call transactions and financing the prepaid forward as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and IREN does not undertake any obligation to update the forward-looking statements included in this press release for subsequent developments, except as may be required by law. For a further discussion of factors that could cause IREN’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in IREN’s Annual Report on Form 20-F for the year ended June 30, 2024 and other risks described in documents filed by IREN from time to time with the Securities and Exchange Commission. About IREN IREN is a leading data center business powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy. Bitcoin Mining: providing security to the Bitcoin network, expanding to 50 EH/s in H1 2025. Operations since 2019. AI Cloud Services: providing cloud compute to AI customers, 1,896 NVIDIA H100 & H200 GPUs. Operations since 2024. Next-Generation Data Centers : 460MW of operating data centers, expanding to 810MW in H1 2025. Specifically designed and purpose-built infrastructure for high-performance and power-dense computing applications. Technology : technology stack for performance optimization of AI Cloud Services and Bitcoin Mining operations. Development Portfolio: 2,310MW of grid-connected power secured across North America, >2,000 acre property portfolio and additional development pipeline. 100% Renewable Energy (from clean or renewable energy sources or through the purchase of RECs) : targets sites with low-cost & underutilized renewable energy, and supports electrical grids and local communities. Contacts
NoneJERUSALEM — Israel approved a ceasefire agreement with Lebanon's Hezbollah militants on Tuesday that would end nearly 14 months of fighting linked to the war in the Gaza Strip. The ceasefire, starting at 4 a.m. local time Wednesday, would mark the first major step toward ending the regionwide unrest triggered by Hamas’ attack on Israel on Oct. 7, 2023. But it does not address the devastating war in Gaza , where Hamas is still holding dozens of hostages and the conflict is more intractable. Hours before the ceasefire with Hezbollah was to take effect, Israel carried out the most intense wave of strikes in Beirut and its southern suburbs since the start of the conflict and issued a record number of evacuation warnings. At least 42 people were killed in strikes across the country, according to local authorities. Another huge airstrike shook Beirut shortly after the ceasefire was announced. Smoke rises following an Israeli airstrike on Dahiyeh, in Beirut, Lebanon, Tuesday, Nov. 26, 2024. There appeared to be lingering disagreement over whether Israel would have the right to strike Hezbollah if it believed the militants had violated the agreement, something Prime Minister Benjamin Netanyahu insisted was part of the deal but which Lebanese and Hezbollah officials have rejected. Israel's security Cabinet approved the U.S.-France-brokered ceasefire agreement after Netanyahu presented it, his office said. U.S. President Joe Biden, speaking in Washington, called the agreement “good news” and said his administration would make a renewed push for a ceasefire in Gaza. The Biden administration spent much of this year trying to broker a ceasefire and hostage release in Gaza but the talks repeatedly sputtered to a halt . President-elect Donald Trump vowed to bring peace to the Middle East without saying how. Still, any halt to the fighting in Lebanon is expected to reduce the likelihood of war between Israel and Iran, which backs both Hezbollah and Hamas and exchanged direct fire with Israel on two occasions earlier this year. In this screen grab image from video provide by the Israeli Government Press Office, Israeli Prime Minister Benjamin Netanyahu makes a televised statement Tuesday, Nov. 26, 2024, in Jerusalem, Israel. Netanyahu presented the ceasefire proposal to Cabinet ministers after a televised address in which he listed accomplishments against Israel’s enemies across the region. He said a ceasefire with Hezbollah would further isolate Hamas in Gaza and allow Israel to focus on its main enemy, Iran. “If Hezbollah breaks the agreement and tries to rearm, we will attack,” he said. “For every violation, we will attack with might.” The ceasefire deal calls for a two-month initial halt in fighting and would require Hezbollah to end its armed presence in a broad swath of southern Lebanon, while Israeli troops would return to their side of the border. Thousands of additional Lebanese troops and U.N. peacekeepers would deploy in the south, and an international panel headed by the United States would monitor compliance. Biden said Israel reserved the right to quickly resume operations in Lebanon if Hezbollah breaks the terms of the truce, but that the deal "was designed to be a permanent cessation of hostilities.” A police bomb squad officer inspects the site where a rocket fired from Lebanon landed in a backyard in Kiryat Shmona, northern Israel, Tuesday Nov. 26, 2024. Netanyahu’s office said Israel appreciated the U.S. efforts in securing the deal but “reserves the right to act against every threat to its security.” Lebanon’s caretaker Prime Minister Najib Mikati welcomed the ceasefire and described it as a crucial step toward stability and the return of displaced people. Hezbollah has said it accepts the proposal, but a senior official with the group said Tuesday it had not seen the agreement in its final form. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Al Jazeera news network. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state," he said, referring to Israel's demand for freedom of action. “Any violation of sovereignty is refused.” Rescuers and residents search for victims Tuesday, Nov. 26, 2024, at the site of an Israeli airstrike that targeted a building in Beirut, Lebanon. Even as ceasefire efforts gained momentum in recent days, Israel continued to strike what it called Hezbollah targets across Lebanon while the militants fired rockets, missiles and drones across the border. An Israeli strike on Tuesday leveled a residential building in central Beirut — the second time in recent days warplanes have hit the crowded area near downtown. At least seven people were killed and 37 wounded, according to Lebanon's Health Ministry. Israel also struck a building in Beirut's bustling commercial district of Hamra for the first time, hitting a site around 400 meters (yards) from Lebanon’s Central Bank. There were no reports of casualties. The Israeli military said it struck targets linked to Hezbollah's financial arm. The evacuation warnings covered many areas, including parts of Beirut that previously were not targeted. The warnings sent residents fleeing. Traffic was gridlocked, with mattresses tied to some cars. Dozens of people, some wearing pajamas, gathered in a central square, huddling under blankets or standing around fires as Israeli drones buzzed overhead. Israeli military spokesman Avichay Adraee issued evacuation warnings for 20 buildings in Beirut's southern suburbs, where Hezbollah has a major presence, as well as a warning for the southern town of Naqoura where the U.N. peacekeeping mission, UNIFIL, is headquartered. UNIFIL spokesperson Andrea Tenenti said peacekeepers will not evacuate. Israeli soldiers inspect the site Tuesday Nov. 26, 2024, where a rocket fired from Lebanon landed in a backyard in Kiryat Shmona, northern Israel. The Israeli military also said its ground troops clashed with Hezbollah forces and destroyed rocket launchers in the Slouqi area on the eastern end of the Litani River, a few miles from the Israeli border. Under the ceasefire deal, Hezbollah would be required to move its forces north of the Litani, which in some places is about 20 miles north of the border. Hezbollah began firing into northern Israel on Oct. 8, 2023, saying it was showing support for the Palestinians, a day after Hamas carried out its attack on southern Israel, triggering the Gaza war. Israel returned fire on Hezbollah, and the two sides have exchanged barrages ever since. Israeli security officers and army soldiers inspect the site Tuesday Nov. 26, 2024, where a rocket fired from Lebanon landed in a backyard in Kiryat Shmona, northern Israel. Israel escalated its bombardment in mid-September and later sent troops into Lebanon, vowing to put an end to Hezbollah fire so tens of thousands of evacuated Israelis could return to their homes. More than 3,760 people have been killed by Israeli fire in Lebanon the past 13 months, many of them civilians, according to Lebanese health officials. The bombardment has driven 1.2 million people from their homes. Israel says it has killed more than 2,000 Hezbollah members. Hezbollah fire has forced some 50,000 Israelis to evacuate in the country’s north, and its rockets have reached as far south in Israel as Tel Aviv. At least 75 people have been killed, more than half of them civilians. More than 50 Israeli soldiers have died in the ground offensive in Lebanon. Chehayeb and Mroue reported from Beirut and Federman from Jerusalem. Associated Press reporters Lujain Jo and Sally Abou AlJoud in Beirut and Aamer Madhani in Washington contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Stay up-to-date on the latest in local and national government and political topics with our newsletter.
Video-sharing platform Rumble announced that it plans to allocate up to $20 million in Bitcoin for its crypto treasury. The video-sharing and cloud services company announced yesterday that its board has approved a strategy to diversify its corporate treasury by allocating up to $20 million of spare cash to Bitcoin. “We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly U.S. presidential administration and increased institutional adoption. Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury,” said Rumble Chairman and CEO Chris Pavlovski. Related Stories Octa answers the important question: how long will the Bitcoin bull run continue? Crypto-Strophe sinks 203,722 traders as Bitcoin melts below $93K The Chairman went further to reveal his vision for Rumble to become the leading video and cloud services platform for the crypto community. “We are also excited to strengthen our ties with crypto and to bolster our efforts to become the leading video and cloud services platform for the crypto community,” Pavlovski added. Rumble announces this move when Bitcoin is retracting and has failed to breach the $100,000 mark. Rumble however noted that the strategy is flexible and might be paused or discontinued at any time. Rumble joins the ranks of Microstrategy and other corporate firms investing in Bitcoin and setting up strategic reserves. Microstrategy remains the largest corporate holder of Bitcoin. The Business intelligence firm got into Bitcoin in 2020 during the lockdown and has grown its Bitcoin holdings to $386,700. Rumble’s move to put $20 million into crypto is not an isolated case as several firms have also made moves to invest in crypto especially Bitcoin. These public companies are usually seeking to leverage Bitcoin and a store of value and hedge against inflation. Genius Group, an artificial intelligence firm, recently disclosed plans to invest $4 million to the crypto as part of its “Bitcoin-first” strategy. Other firms include Anixa Biosciences, a cancer-focused biotech firm, which announced on Nov. 22 its decision to allocate a portion of its treasury to Bitcoin stressing the crypto asset’s ability to serve as a perfect hedge against inflation. Bitcoin is currently exchanging hands for $93,649 dropping from its peak $99,000 price level from days ago. Analysts still believe the asset will cross the psychological $100,000 barrier before the year ends. Microstrategy stocks are highly sought after due to its heavy investment in Bitcoin. The business intelligence firm has acquired the most of BTC and plans to buy even more over the next three years.