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6 million dollars to peso

22,195 Shares in Insteel Industries, Inc. (NASDAQ:IIIN) Acquired by Intech Investment Management LLC
Resignation shouldn’t prevent the release of Gaetz report — it didn’t stop us last time45 years ago, an 11-year-old and his brother started a band. Redd Kross won’t quit
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.Centene Corp. stock underperforms Tuesday when compared to competitorsFacebook Twitter WhatsApp SMS Email Print Copy article link Save BEIRUT — Hezbollah fired about 250 rockets and other projectiles into Israel on Sunday, wounding seven people in one of the militant group's heaviest barrages in months, in response to deadly Israeli strikes in Beirut while negotiators pressed on with cease-fire efforts to halt the all-out war. An Israeli bomb squad policeman carries the remains of a rocket that was fired from Lebanon on Sunday in Kibbutz Kfar Blum, northern Israel. Some of the rockets reached the Tel Aviv area in the heart of Israel. Meanwhile, an Israeli strike on an army center killed a Lebanese soldier and wounded 18 others in the southwest between Tyre and Naqoura, Lebanon's military said. The Israeli military expressed regret, saying that the strike occurred in an area of combat against Hezbollah and that the military's operations are directed solely against the militants. Israeli strikes have killed over 40 Lebanese troops since the start of the war between Israel and Hezbollah, even as Lebanon's military has largely kept to the sidelines. People are also reading... 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York has options if you don't want to cook Lebanon's caretaker prime minister, Najib Mikati, condemned the latest strike as an assault on U.S.-led cease-fire efforts, calling it a “direct, bloody message rejecting all efforts and ongoing contacts” to end the war. Hezbollah began firing rockets, missiles and drones into Israel after Hamas' Oct. 7, 2023, attack out of the Gaza Strip ignited the war there. Hezbollah has portrayed the attacks as an act of solidarity with the Palestinians and Hamas. Iran supports both armed groups. The Israeli police bomb squad inspects the site after a missile fired from Lebanon hit the area Sunday in Petah Tikva, outskirts of Tel Aviv, Israel. Israel launched retaliatory airstrikes at Hezbollah, and in September the low-level conflict erupted into all-out war as Israel launched airstrikes across large parts of Lebanon and killed Hezbollah's top leader, Hassan Nasrallah. The Israeli military said about 250 projectiles were fired Sunday, with some intercepted. Israel’s Magen David Adom rescue service said it treated seven people, including a 60-year old man in severe condition from rocket fire on northern Israel, a 23-year-old man who was lightly wounded by a blast in the central city of Petah Tikva, near Tel Aviv, and a 70-year-old woman who suffered smoke inhalation from a car that caught fire there. In Haifa, a rocket hit a residential building that police said was in danger of collapsing. The Palestine Red Crescent reported 13 injuries it said were caused by an interceptor missile that struck several homes in Tulkarem in the West Bank. It was unclear whether injuries and damage were caused by rockets or interceptors. Sirens wailed again in central and northern Israel hours later. Israeli airstrikes without warning on Saturday pounded central Beirut, killing at least 29 people and wounding 67, according to Lebanon's Health Ministry. A flock of birds flies above the smoke from Israeli airstrikes Sunday in Dahiyeh, Beirut. Smoke billowed above Beirut again Sunday with new strikes. Israel's military said it targeted command centers for Hezbollah and its intelligence unit in the southern suburbs of Dahiyeh, where the militants have a strong presence. Israeli attacks have killed more than 3,700 people in Lebanon, according to the Health Ministry. The fighting has displaced about 1.2 million people, or a quarter of Lebanon’s population. On the Israeli side, about 90 soldiers and nearly 50 civilians have been killed by bombardment in northern Israel and in battle following Israel's ground invasion in early October. Around 60,000 Israelis have been displaced from the country's north. EU urges immediate halt to Israel-Hezbollah war The EU's foreign policy chief Josep Borrell called for an "immediate ceasefire" in the Israel-Hezbollah war while on a visit to the Lebanese c... The European Union’s top diplomat called Sunday for more pressure on Israel and Hezbollah to reach a deal, saying one was "pending with a final agreement from the Israeli government.” U.S. envoy Amos Hochstein was in the region last week. Josep Borrell spoke after meeting with Mikati and Lebanese Parliament Speaker Nabih Berri, a Hezbollah ally who has been mediating with the group. Borrell said the EU is ready to allocate $208 million to assist the Lebanese military. But Borrell later said that he did not “see the Israeli government interested clearly in reaching an agreement for a cease-fire" and that it seemed Israel was seeking new conditions. He pointed to Israel’s refusal to accept France as a member of the international committee that would oversee the cease-fire's implementation. The emerging agreement would pave the way for the withdrawal of Hezbollah militants and Israeli troops from southern Lebanon below the Litani River in accordance with the U.N. Security Council resolution that ended the monthlong 2006 war. Lebanese troops would patrol with the presence of U.N. peacekeepers. With talks for a cease-fire and hostage release deal in Gaza stalled, freed hostages and families of those held marked a year since the war's only hostage-release deal. “It’s hard to hold on to hope, certainly after so long and as another winter is about to begin," said Yifat Zailer, cousin of Shiri Bibas, who is held along with her husband and two young sons. Around 100 hostages are still in Gaza, at least a third believed to be dead. Most of the rest of the 250 who were abducted in the Oct. 7, 2023, Hamas attack were released in last year's cease-fire. Talks for another deal recently had several setbacks, including the firing of Israeli Defense Minister Yoav Gallant, who pushed for a deal, and Qatar’s decision to suspend its mediation. Hamas wants Israel to end the war and withdraw all troops from Gaza. Israel has offered only to pause its offensive. The Palestinian death toll from the war surpassed 44,000 this week, according to Gaza's Health Ministry, which does not distinguish between civilians and combatants in its count. On Sunday, six people were killed in strikes in central Gaza, according to AP journalists at Al-Aqsa Martyrs Hospital in Deir al-Balah. Buyer beware: How to spot fake online shopping sites Buyer beware: How to spot fake online shopping sites How often do you buy something online ? A couple of times a month? A couple of times a week? A couple of times a day? Everybody's answer will be different, but collectively, it's done a lot: Online retail accounted for over $1 trillion of purchases in the U.S. in 2022 and a record $277.6 billion in the second quarter of 2023 alone. Retailers ranging from titans like Amazon and Walmart, down to local small-town shops work very hard to land their share of that business. Sadly and inevitably—so do criminals and scammers. At any given moment, they operate millions of bogus sites. So how can you spot those fake online shopping sites? Spokeo provides a guide. It's Easy to Create an Online Presence In the early days of the internet , it took some genuine skills to set up a website, but those days are gone. A quick search will show that there are lots of apps and services offering websites on a prefabricated "fill in the blanks" basis, and most web hosts provide those tools as part of the service when someone signs up with them. It's even easier on social media . If you were opening a "side hustle" business tomorrow from your home, you could set up your own Facebook page tonight in under an hour, with exactly zero knowledge of websites. Once that page is set up, you just need to throw a few dollars in the direction of Facebook's advertising department, and they'll start advertising your page to users. It's no harder to promote a website, except in that case, you'd give your advertising dollars to Google. This is a simplified overview, but the main point holds: Establishing a presence online has become a very democratized process, open to anyone with minimal skills and even the smallest budget for advertising. That's been a boon for legitimate entrepreneurs, but it also makes life very easy indeed for scammers. How Bogus Websites Steal Money and Information There are multiple types of bogus websites . Some are imposters, created to look very much like a legitimate commercial or government site that you're familiar with, such as Amazon or Netflix. Others don't imitate a specific site, but instead attempt to capture the look and feel of those sites in general (whether that be a retail site, a government or bank page, or even something relatively shady like a gambling or porn site). Next, scammers find ways to drive traffic to their site. Often that's through phishing texts or emails, but deceptive ads on social media or search engines like Google and Bing work just as well. Once a browser arrives at the criminals' site (or, in some cases, downloads their app), any number of bad things can happen. One is that they'll download malware onto your devices, which can capture passwords or steal personal information. A more straightforward risk is that the browser will cheerfully enter their personal and banking/credit card information, thinking they're making a legitimate purchase. That's largely why fake online shopping sites are so dangerous, and so useful to scammers and identity thieves. How Fake Online Shopping Sites Work Most bogus sites share some or all of those characteristics, but shopping sites are a very specific type of bogus site with some quirks of their own. One characteristic to count on—whether the website directly impersonates a major retailer like Amazon, a niche retailer like MEC, or just positions itself as an anonymously general retail site—is that it will offer unusually low pricing on high-demand products. That might be a mass-market item like the latest gaming console, a suddenly in-demand item that's unavailable through normal channels (remember trying to get masks and sanitizing wipes during COVID-19?), or something as mundane as disposable diapers or high-capacity computer drives. Whatever the product, the advertised price will be low enough to get attention. The bogus site will have any number of ways to transfer a browser's money to its coffers, depending on the scammers' intentions and skillset. A few of the most common include: Products that are damaged, refurbished, low-quality fakes, or otherwise not as described (and therefore, not worth nearly what was paid for them). Products that never arrive at all after they've been paid for (this is the most common variation.) Hidden fees, surcharges, or shipping charges that dramatically inflate the price of the (usually substandard) product. Charging a "restocking fee" before processing a refund or return (which, of course, they subsequently don't do). These are all aside from the potential to infect devices or steal payment information . Sites focused on identity theft might consider a faux purchase to be just the added gravy. Fake Online Shopping Sites are a Big (and Year-Round) Problem How common is online shopping fraud? Well, the news is pretty bad. The FTC's 2022 Consumer Sentinel Network Data Book recorded over 327,000 online shopping complaints, the fourth-highest category for overall complaints and second among fraud categories. You would expect these sites to be more prevalent during the final quarter of the year, corresponding to the holiday gift-giving season—Black Friday, Cyber Monday, and Christmas itself—and they are, but that doesn't mean you can relax during the other nine months of the year. The Anti-Phishing Working Group, or APWG, identified nearly a million fake or phishing websites during the first quarter of 2022 alone (not a busy time of year for shopping), for example. To be clear, only 14.6% of those were eCommerce sites, but that still translates to well over 140,000 bogus shopping sites. The true number is almost certainly higher because the APWG only tracks the ones that use a phishing approach. Many opt to simply buy advertising instead (or as well), and those won't be captured in the APWG's statistics. However you slice it, there's a definite risk of encountering these sites when you shop. Recognizing Fake Online Shopping Sites The good news is that bogus shopping sites aren't hard to spot, once you're aware of the risk. They aren't built for permanence; scammers pull them together quickly and cheaply and then abandon them once they stop producing.That "just good enough" approach leaves plenty of visible signs you can detect. Below, here's what to look for when recognizing fake online shopping sites. Bad images Bogus sites don't have direct access to the real products' manufacturing images, so they resort to copying and pasting from legitimate sites. \That means bogus sites' product images (and often their fake logos, if they impersonate a legitimate site) are fuzzy and low-res. A URL that's slightly "off" Imposter sites obviously can't have the same URL as the legitimate site, so they'll usually have a URL that looks right, but isn't quite. They might have a typo in the name, or incorporate the real company's name into their URL in a non-standard way ("myfakesite.amazon.com.123xyz.com"), or—sneakiest of all—use a letter from a different language's character set , which looks the same to the eye, but not to the computer. Broken links The scammers may have simply copied and pasted user interface elements from a legitimate site, in which case many links on the site may be broken (or simply not clickable). Lots of missing elements A legitimate retail website will have several pages of legalese, often starting with a pop-up about its cookie policy or privacy policy. You should certainly expect to see a detailed document spelling out shipping policies, return and refund policies, and similar details. If those are missing or brief and vapid, it's probably a fake site. Limited options for payment Sites that plan to take your money and run will often show oddly specific payment options, from wire transfers to gift cards to cryptocurrency. The thing those payment methods have in common is that it's very difficult to get money back once it's spent. Sites geared around capturing your personal or payment information, on the other hand, may insist on getting your credit card. Typos, grammar, and linguistic errors Simple, silly language errors are often a red flag. Scammers may not be native English speakers, and it shows up in awkward or sometimes inappropriate phrasing. Errors in actual product listings aren't necessarily a smoking gun—you'll see them frequently on real Amazon pages—because they come from the manufacturers, who are often not English speakers. Language errors on the rest of the site are more of a concern. HTTP vs. HTTPS In the address bar of your browser, a legitimate retail site's URL will start with HTTPS, rather than HTTP, and will show a closed lock symbol. The majority of fake sites now also have an HTTPS URL and will show the lock (so this isn't as helpful as it used to be), but less-sophisticated scammers may miss that detail. You can automatically rule those ones out. And, of course, the biggest red flag of all is an unrealistically low price on the product you're looking for. We all want to get a really good deal, but that impulse will often lead you astray. What to Do if You Think a Shopping Site Is Fake If a shopping site fails those basic "eyeball" tests, the smart thing to do is just close that browser tab and walk away. If you want to dig deeper, or if you aren't sure, there are a few quick and easy ways to verify a site's legitimacy. Use a URL/website checker Remember those really sneaky fake URLs that use a letter from another alphabet? The best way to check those (and other problematic elements in a URL) is through a URL verifier/website reputation service, like the ones from URLVoid and Google . Just copy (don't click!) the link, and paste it into the checker. If the site is sketchy, they'll tell you. Look up the site on a registry Domain names all need to be registered and there are several lookup tools to check this, like ICANN's registration lookup (think of it as Spokeo for websites). If a site claims to be Amazon but was registered just a few weeks ago, that's a really big red flag. Similarly, if the site isn't located where it should be, or if the ownership data is obscured, that's grounds for concern. Turn to Google If you have a bad feeling about a particular site, do a quick Google or Bing (or whatever) search that pairs the site's name with keywords like "scam," "fraud," "bogus" or "ripoff" and see what comes up. If you get a lot of hits, that's definitely grounds for concern. Go Forth and Shop (Safely) If a given site fails any or all of those tests, then keeping your wallet in your pocket is definitely the smart choice. Instead of making the purchase, report the site instead to the FBI's Internet Crime Complaint Center and the FTC's Report Fraud website. That will get the investigative wheels turning and may help protect someone less wary from falling victim to the scammers. As always, wariness and skepticism are your friends when it comes to avoiding scams. Don't click on links in emails, texts , or social media messages; instead, go to the company's site by typing the URL directly. If you search a company's page on Google, scroll down through the actual search results until you find it instead of clicking on the sponsored results or advertisements at the top. Most of all, remember the golden rule of scam avoidance: If it seems too good to be true, it probably is. Keeping those principles in mind, and using the tips given here to screen out dubious sites means you'll be able to shop 'til you drop (safely), despite the vast number of scammers out there. And that—as the credit card ads like to say—is priceless. This story was produced by Spokeo and reviewed and distributed by Stacker. Get local news delivered to your inbox!
Stephen A. Smith ‘pissed’ NFL addressed Donald Trump-inspired danceAdvisors Asset Management Inc. Lowers Stock Position in Lamar Advertising (NASDAQ:LAMR)
NoneIntech Investment Management LLC grew its stake in shares of Southwest Gas Holdings, Inc. ( NYSE:SWX – Free Report ) by 112.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,849 shares of the utilities provider’s stock after buying an additional 5,740 shares during the period. Intech Investment Management LLC’s holdings in Southwest Gas were worth $800,000 at the end of the most recent reporting period. A number of other hedge funds also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC purchased a new position in Southwest Gas during the first quarter valued at approximately $202,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Southwest Gas by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,585 shares of the utilities provider’s stock valued at $4,308,000 after buying an additional 1,079 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Southwest Gas in the 1st quarter worth $115,000. GAMMA Investing LLC increased its stake in Southwest Gas by 154.8% in the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after buying an additional 260 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Southwest Gas by 8.8% during the second quarter. V Square Quantitative Management LLC now owns 4,104 shares of the utilities provider’s stock valued at $289,000 after acquiring an additional 332 shares during the period. 92.77% of the stock is currently owned by institutional investors. Wall Street Analyst Weigh In A number of research firms have recently weighed in on SWX. JPMorgan Chase & Co. dropped their price objective on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Insider Buying and Selling In related news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total value of $106,668,600.00. Following the completion of the transaction, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink . 0.39% of the stock is currently owned by company insiders. Southwest Gas Stock Down 0.1 % Shares of SWX stock opened at $78.24 on Friday. The stock has a market cap of $5.61 billion, a P/E ratio of 31.55, a PEG ratio of 4.13 and a beta of 0.38. The company’s fifty day simple moving average is $74.93 and its two-hundred day simple moving average is $73.75. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $80.29. Southwest Gas ( NYSE:SWX – Get Free Report ) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. Analysts predict that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current fiscal year. Southwest Gas Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s dividend payout ratio (DPR) is presently 100.00%. About Southwest Gas ( Free Report ) Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems. Further Reading Five stocks we like better than Southwest Gas The How And Why of Investing in Oil Stocks The Latest 13F Filings Are In: See Where Big Money Is Flowing What is the Dow Jones Industrial Average (DJIA)? 3 Penny Stocks Ready to Break Out in 2025 3 Warren Buffett Stocks to Buy Now FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings, Inc. ( NYSE:SWX – Free Report ). Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with MarketBeat.com's FREE daily email newsletter .
Giant cyborg cockroaches could be the search and rescue workers of the futureRecord Revenues as Global Logistics Network Expands WATERLOO, Ontario and ATLANTA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) announced its financial results for its fiscal 2025 third quarter ( Q3FY25 ). All financial results referenced are in United States ( US ) currency and, unless otherwise indicated, are determined in accordance with US Generally Accepted Accounting Principles ( GAAP ). “Our business has grown organically while we've added complementary solutions to our Global Logistics Network by way of acquisition,” said Edward J. Ryan, Descartes’ CEO. “We listen to our customers about where best to invest to help them meet the many logistics and supply chain challenges they're facing, which contributed to us completing two acquisitions this past quarter. The global trade landscape remains highly uncertain and complex for our customers, especially with potential upcoming changes to tariffs and sanctions and the resulting impact on trade. As always, our goal is to help our customers manage this complexity so that they can continue to focus on their core businesses.” Q3FY25 Financial Results As described in more detail below, key financial highlights for Descartes’ Q3FY25 included: Revenues of $168.8 million, up 17% from $144.7 million in the third quarter of fiscal 2024 ( Q3FY24 ) and up 3% from $163.4 million in the previous quarter ( Q2FY25 ); Revenues were comprised of services revenues of $149.7 million (89% of total revenues), professional services and other revenues of $15.6 million (9% of total revenues) and license revenues of $3.5 million (2% of total revenues). Services revenues were up 15% from $130.4 million in Q3FY24 and up 2% from $146.2 million in Q2FY25; Cash provided by operating activities of $60.1 million, up 7% from $56.1 million in Q3FY24 and up 73% from $34.7 million in Q2FY25. Cash provided by operating activities was negatively impacted in Q2FY25 by the payment of $25.0 million in contingent acquisition consideration for previously completed deals, which was not accrued for at the time of acquisition; Income from operations of $45.8 million, up 41% from $32.4 million in Q3FY24 and down from $45.9 million in Q2FY25; Net income of $36.6 million, up 38% from $26.6 million in Q3FY24 and up 5% from $34.7 million in Q2FY25. Net income as a percentage of revenue was 22%, compared to 18% in Q3FY24 and 21% in Q2FY25; Earnings per share on a diluted basis of $0.42, up 35% from $0.31 in Q3FY24 and up 5% from $0.40 in Q2FY25, respectively; and Adjusted EBITDA of $72.1 million, up 14% from $63.5 million in Q3FY24 and up 2% from $70.6 million in Q2FY25. Adjusted EBITDA as a percentage of revenues was 43%, compared to 44% and 43% in Q3FY24 and Q2FY25, respectively. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures provided as a complement to financial results presented in accordance with GAAP. We define Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). These items are considered by management to be outside Descartes' ongoing operational results. We define Adjusted EBITDA as a percentage of revenues as the quotient, expressed as a percentage, from dividing Adjusted EBITDA for a period by revenues for the corresponding period. A reconciliation of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income determined in accordance with GAAP is provided later in this release. The following table summarizes Descartes' results in the categories specified below over the past 5 fiscal quarters (unaudited; dollar amounts, other than per share amounts, in millions): Year-to-Date Financial Results As described in more detail below, key financial highlights for Descartes’ nine-month period ended October 31, 2024 ( 9MFY25 ) included: Revenues of $483.5 million, up 14% from $424.7 million in the same period a year ago ( 9MFY24 ); Revenues were comprised of services revenues of $433.7 million (90% of total revenues), professional services and other revenues of $44.4 million (9% of total revenues) and license revenues of $5.4 million (1% of total revenues). Services revenues were up 13% from $385.3 million in 9MFY24; Cash provided by operating activities of $158.5 million, up 1% from $156.9 million in 9MFY24. Cash provided by operating activities was negatively impacted in 9MFY25 by the payment of $25.0 million in contingent acquisition consideration for previously completed deals, which was not accrued for at the time of acquisition; Income from operations of $134.0 million, up 27% from $105.8 million in 9MFY24; Net income of $105.9 million, up 26% from $84.1 million in 9MFY24. Net income as a percentage of revenues was 22%, compared to 20% in 9MFY24; Earnings per share on a diluted basis of $1.21, up 25% from $0.97 in 9MFY24; and Adjusted EBITDA of $209.7 million, up 15% from $181.7 million in 9MFY24. Adjusted EBITDA as a percentage of revenues was 43%, consistent with 9MFY24. The following table summarizes Descartes’ results in the categories specified below over 9MFY25 and 9MFY24 (unaudited, dollar amounts in millions): Cash Position At October 31, 2024, Descartes had $181.3 million in cash. Cash decreased by $71.4 million in Q3FY25 and $139.7 million in 9MFY25. The table set forth below provides a summary of cash flows for Q3FY25 and 9MFY25 in millions of dollars: Acquisition of MyCarrierPortal On September 17, 2024, Descartes acquired all of the shares of Assure Assist, Inc., doing business as MyCarrierPortal (“MCP”), a leading provider of carrier onboarding and risk monitoring solutions for the trucking industry. The purchase price for the acquisition was approximately $22.5 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $6.0 million based on MCP achieving revenue-based targets over the first two years post-acquisition. Acquisition of Sellercloud On October 11, 2024, Descartes acquired all of the shares of Sellercloud LLC and certain assets of Sellercloud Europe Ltd. (collectively referred to as “Sellercloud”), a leading provider of omnichannel ecommerce solutions. The purchase price for the acquisition was approximately $110.2 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $20.0 million based on Sellercloud achieving revenue-based targets over the first two years post-acquisition. Conference Call Members of Descartes' executive management team will host a conference call to discuss the company's financial results at 5:30 p.m. ET on Tuesday, December 3, 2024. Designated numbers are +1 289 514 5100 and +1 800 717 1738 for Toll-Free in North America, using conference ID 07584. The company will simultaneously conduct an audio webcast on the Descartes website at www.descartes.com/descartes/investor-relations. Phone conference dial-in or webcast login is required approximately 10 minutes beforehand. Replays of the conference call will be available until December 10, 2024, by dialing +1 289 819 1325 or Toll-Free for North America using +1 888 660 6264 with Playback Passcode: 07584#. An archived replay of the webcast will be available at www.descartes.com/descartes/investor-relations. About Descartes Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com , and connect with us on LinkedIn and X (Twitter ) . Descartes Investor Contact Laurie McCauley (519) 746-2969 investor@descartes.com Cautionary Statement Regarding Forward-Looking Statements This release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relates to Descartes' expectations concerning future revenues and earnings, and our projections for any future reductions in expenses or growth in margins and generation of cash; our assessment of the potential impact of geopolitical events, such as the ongoing conflict between Russia and Ukraine (the “Russia-Ukraine Conflict”), and between Israel and Hamas (“Israel-Hamas Conflict”), or other potentially catastrophic events, on our business, results of operations and financial condition; continued growth and acquisitions including our assessment of any increased opportunity for our products and services as a result of trends in the logistics and supply chain industries; rate of profitable growth and Adjusted EBITDA margin operating range; demand for Descartes' solutions; growth of Descartes' Global Logistics Network (“GLN”); customer buying patterns; customer expectations of Descartes; development of the GLN and the benefits thereof to customers; and other matters. These forward-looking statements are based on certain assumptions including the following: global shipment volumes continuing at levels generally consistent with those experienced historically; the Russia-Ukraine Conflict and Israel-Hamas Conflict not having a material negative impact on shipment volumes or on the demand for the products and services of Descartes by its customers and the ability of those customers to continue to pay for those products and services; countries continuing to implement and enforce existing and additional customs and security regulations relating to the provision of electronic information for imports and exports; countries continuing to implement and enforce existing and additional trade restrictions and sanctioned party lists with respect to doing business with certain countries, organizations, entities and individuals; Descartes' continued operation of a secure and reliable business network; the stability of general economic and market conditions, currency exchange rates, and interest rates; equity and debt markets continuing to provide Descartes with access to capital; Descartes' continued ability to identify and source attractive and executable business combination opportunities; Descartes' ability to develop solutions that keep pace with the continuing changes in technology, and our continued compliance with third party intellectual property rights. These assumptions may prove to be inaccurate. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Descartes, or developments in Descartes' business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, Descartes' ability to successfully identify and execute on acquisitions and to integrate acquired businesses and assets, and to predict expenses associated with and revenues from acquisitions; the impact of network failures, information security breaches or other cyber-security threats; disruptions in the movement of freight and a decline in shipment volumes including as a result of contagious illness outbreaks; a deterioration of general economic conditions or instability in the financial markets accompanied by a decrease in spending by our customers; the ability to attract and retain key personnel and the ability to manage the departure of key personnel and the transition of our executive management team; changes in trade or transportation regulations that currently require customers to use services such as those offered by Descartes; changes in customer behaviour and expectations; Descartes’ ability to successfully design and develop enhancements to our products and solutions; departures of key customers; the impact of foreign currency exchange rates; Descartes' ability to retain or obtain sufficient capital in addition to its debt facility to execute on its business strategy, including its acquisition strategy; disruptions in the movement of freight; the potential for future goodwill or intangible asset impairment as a result of other-than-temporary decreases in Descartes' market capitalization; and other factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada, including Descartes' most recently filed Management's Discussion and Analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with GAAP. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with GAAP. We believe that current shareholders and potential investors in our company use non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues, in making investment decisions about our company and measuring our operational results. The term “Adjusted EBITDA” refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). Adjusted EBITDA as a percentage of revenues divides Adjusted EBITDA for a period by the revenues for the corresponding period and expresses the quotient as a percentage. Management considers these non-operating expenses to be outside the scope of Descartes’ ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues should not be construed as a substitute for net income determined in accordance with GAAP or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues does have limitations. In particular, we have completed seven acquisitions since the beginning of fiscal 2024 and may complete additional acquisitions in the future that will result in acquisition-related expenses and restructuring charges. As these acquisition-related expenses and restructuring charges may continue as we pursue our consolidation strategy, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations. The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for Q3FY25, Q2FY25, Q1FY25, Q4FY24, and Q3FY24, which we believe is the most directly comparable GAAP measure. The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for 9MFY25 and 9MFY24, which we believe is the most directly comparable GAAP measure. The Descartes Systems Group Inc. Condensed Consolidated Balance Sheets (US dollars in thousands; US GAAP; Unaudited) The Descartes Systems Group Inc. Consolidated Statements of Operations (US dollars in thousands, except per share and weighted average share amounts; US GAAP; Unaudited) The Descartes Systems Group Inc. Condensed Consolidated Statements of Cash Flows (US dollars in thousands; US GAAP; Unaudited)
By Daily Trust Laolu Akande, a former presidential aide, has called on President Bola Ahmed Tinubu to rise above the performance of his predecessors and leave a legacy of trust and transformation for Nigerians. Akande said this on Thursday while speaking as a guest on Channels TV’s Sunrise Daily. “The president must understand that he has an obligation to be the best president Nigeria has ever had. If he does anything below that, it’s a disappointment to his pedigree,” he stated. Reflecting on Tinubu’s past achievements as Lagos State governor and his experience as an opposition politician in the country, Akande expressed high expectations for Tinubu’s presidency. Be patient with Tinubu, 2025 presents better deal – Ganduje Christmas: CAN asks Tinubu to reduce food prices, strengthen agriculture “When they asked him about corruption, his response was lackadaisical. The president must understand the corrosive nature of corruption—it’s not just financial. It’s in our moral attitude and what we have become as a people. “Providing loans to university students is an excellent programme, but that is not how we are going to fight corruption,” Akande noted. While acknowledging the president’s confidence during the media chat, Akande pointed out a critical shortfall: the inability to instill trust in the people. He called on Tinubu to engage Nigerians more and demonstrate a genuine connection with their struggles. “He must speak not only as a confident politician but as a Nigerian who had been out there in the trenches with the people. He hasn’t been able to do that so far,” Akande submitted. Asked what Nigerians can look forward to next year, he responded: “Nigerians should go into the New Year with a new mindset. Namely, we should stop expecting ‘salvation from the political process’. Our salvation is not going to come from the political process. We will have to compel the situation that we want on the political process.” He called for greater public involvement in the civic process, stressing that real change can only come from sustained public discourse by the people, beyond what he described as “arm-chair” analysis. While urging Nigerians to be more assertive, he said: “We are not making requests from those who are in government. But we are asserting the fact that the existence of government is at our behest. The government exists because we produce it. “Many people don’t get involved in the civic process. People have to move into that realm. Otherwise, we will remain in an armchair analysis situation, talking about issues in our little corners. We need to move the conversations to the public space.” Akande emphasized the importance of media as a critical tool for change, likening it to a “village meeting place” where collective aspirations can be aired and refined. He challenged Nigerians to raise their expectations and advocate for better governance. “Whenever somebody in government does something little, there is a lot of cheer,” he said. “If you look at Nigerians very well, they are not asking for too much. We need to begin to change the conversation in public spaces to say that ‘This is the kind of Nigeria that we must have. And we will not accept anything less.’” Addressing concerns about criticisms of government leadership being equated with “demarketing” Nigeria, Akande highlighted the need for wisdom and discernment. “There is no use demarketing our country at all. People shouldn’t equate criticism of leaders in government today with criticism of Nigeria. These leaders are just in charge for a limited time, maximum – eight years,” Akande remarked. “What is the use of running your country down? It’s completely useless. But we can begin to find new ways to hold leadership accountable, starting from our narratives.” Akande praised the resilience of the Nigerian people in the face of challenges. “The stories of people like Lookman Ademola who, even though was born in the United Kingdom and he’s actually a citizen of that country, chose to wear the Nigerian flag and say ‘I am a Nigerian’. Stories like that are the things that I find very inspiring. And it encourages me that this country is going to be great,” the former Tribune editor noted. Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You. best president Demarketing Laolu Akande President Bola Ahmed TinubuWICHITA, Kan.--(BUSINESS WIRE)--Dec 26, 2024-- Equity Bancshares, Inc. (NYSE:EQBK), (“Equity”), the Wichita-based holding company of Equity Bank, will release its fourth quarter results on Wednesday, January 22, 2025, with a press release issued after market close. Equity Chairman and Chief Executive Officer Brad Elliott and Chief Financial Officer Chris Navratil will hold a conference call and webcast to discuss earnings results on Thursday, January 23, 2025 at 10 a.m. eastern time or 9 a.m. central time. A live webcast of the call will be available on the Company’s website at investor.equitybank.com . To access the call by phone, please go to this registration link and follow the registration instructions. Once you have registered for the call, dial-in information will be provided. Investors, news media, and other participants are encouraged to dial into the conference call ten minutes ahead of the scheduled start time. A replay of the call and webcast will be available following the close of the call at investor.equitybank.com . About Equity Bancshares, Inc. Equity Bancshares, Inc. is the holding company for Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, trust and wealth management services and treasury management services, while delivering the high-quality, relationship-based customer service of a community bank. Equity’s common stock is traded on the New York Stock Exchange under the symbol “EQBK.” Learn more at www.equitybank.com . Special Note Concerning Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of Equity’s management with respect to, among other things, future events and Equity’s financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Equity’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond Equity’s control. Accordingly, Equity cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Equity believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from Equity’s expectations include competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses; and similar variables. The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Equity’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 7, 2024, and any updates to those risk factors set forth in Equity’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Equity’s underlying assumptions prove to be incorrect, actual results may differ materially from what Equity anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Equity does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time and it is not possible for us to predict those events or how they may affect us. In addition, Equity cannot assess the impact of each factor on Equity’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Equity or persons acting on Equity’s behalf may issue. View source version on businesswire.com : https://www.businesswire.com/news/home/20241220295260/en/ CONTACT: Media Contact:Russell Colburn Public Relations & Communications Manager Equity Bancshares, Inc. (913) 583-8011 rcolburn@equitybank.comInvestor Contact:Brian J. Katzfey VP, Director of Corporate Development and Investor Relations Equity Bancshares, Inc. (316) 858-3128 bkatzfey@equitybank.com KEYWORD: KANSAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: Equity Bancshares Copyright Business Wire 2024. PUB: 12/26/2024 04:45 PM/DISC: 12/26/2024 04:45 PM http://www.businesswire.com/news/home/20241220295260/en
Stephenson puts up 21 as CSU Bakersfield knocks off Northeastern 68-60Hezbollah fires about 250 rockets and other projectiles into Israel in heaviest barrage in weeks
By KATE BRUMBACK ATLANTA (AP) — A judge is weighing whether a Georgia state Senate committee has the right to subpoena testimony and documents from Fulton County District Attorney Fani Willis as it looks into whether she has engaged in misconduct during her prosecution of President-elect Donald Trump. The Republican-led committee sent subpoenas to Willis in August seeking to compel her to testify at its September meeting and to produce scores of documents. The committee was formed earlier this year to examine allegations of “various forms of misconduct” by Willis, an elected Democrat, during her prosecution of Trump and others over their efforts to overturn the former president’s 2020 election loss in Georgia. Willis’ attorney, former Democratic Gov. Roy Barnes, told Fulton County Superior Court Judge Shukura Ingram during a hearing Tuesday that although the Georgia General Assembly has subpoena power, that power is not automatically conferred on a single legislative chamber or its committees. Even if the committee did have such power, he argued, the subpoenas in question are overly broad and not related to a legitimate legislative need. Barnes said the focus on Willis and her investigation into Trump shows that the committee was politically motivated and not a legitimate inquiry into the practices of district attorneys’ offices: “What they were trying to do is chill the prosecution of Donald Trump and find out what they had.” Josh Belinfante, a lawyer representing the lawmakers, said there is nothing in the Georgia Constitution that prohibits the Senate from issuing a subpoena. The duly formed interim committee is looking into whether new legislation is needed to regulate the practices of district attorneys’ offices in the state, he argued. “They are investigating and making an inquiry into these allegations that may show that existing state laws, including those establishing the processes for selecting, hiring and compensating special assistant district attorneys, are inadequate,” Belinfante said. The resolution creating the committee focused in particular on Willis’ hiring of special prosecutor Nathan Wade , with whom she had a romantic relationship , to lead the prosecution against Trump and others. It says the relationship amounted to a “clear conflict of interest and a fraud upon the taxpayers” of the county and state. One of the committee’s subpoenas orders Wills to produce documents related to Wade, including documents related to his hiring and payment, documents related to money or items of value that Wade and Willis may have exchanged, text messages and emails between the two, and their phone records. The committee also requested any documents her office sent in response to requests from the U.S. House, as well as communications Willis and her office had with the White House, the U.S. Justice Department and the House relating to the 2020 presidential election. And they asked for documents related to federal grant money Willis’ office has received. Before the deadlines in the subpoenas, Willis challenged them in court. Willis’ challenge was pending in mid-September when she skipped a hearing during which the committee members had hoped to question her. In October, the committee asked Ingram to require Willis to comply with the subpoenas. The committee’s lawyers wrote in a court filing that Willis’ failure to do so had delayed its ability to finish its inquiry and to provide recommendations for any legislation or changes in appropriations that might result. Barnes also argued that once the regular legislative session has adjourned, which happened in March this year, legislative committees can meet to study issues and come up with recommendations but do not have the power to compel someone to appear or produce documents. Belinfante rejected that, saying the state Constitution expressly permits the creation of interim committees and allows them to make their rules. Even if these subpoenas were validly issued, Barnes argued, they ask for too much, including private and personal information that is not a legitimate target of a legislative subpoena. Related Articles Nation | Are you a former SmileDirectClub customer? You might be eligible for a refund Nation | Justice Department announces sweeping reforms to curb suicides in federal prisons and jails Nation | Defense makes closing argument in murder trial of Cash App founder Bob Lee Nation | A judge has once again rejected Musk’s multi-billion-dollar Tesla pay package. Now what? Nation | Is Enron back? If it’s a joke, some former employees aren’t laughing Belinfante said the lawmakers are simply trying to do their jobs. He asked that Willis be ordered to appear before the committee in early January. He also asked that she be ordered to provide the requested documents and explain what privilege justifies any that are excluded. With a glaring lack of state case law on the issue of the General Assembly’s subpoena power, that’s one issue Ingram will have to address. She said she will consider the arguments and release her order as soon as she can. Willis and Wade have acknowledged that they had a relationship but have said it began after he was hired and ended before the indictment against Trump was filed. Trump and other defendants argued that the relationship created a conflict of interest that should disqualify Willis and her office from continuing with her prosecution of the case. Fulton County Superior Court Judge Scott McAfee ruled in March that Willis’ actions showed a “tremendous lapse in judgment,” but he did not find a conflict of interest that would disqualify Willis. He said she could continue her prosecution as long as Wade stepped aside, which he did. Trump and others have appealed that ruling to the Georgia Court of Appeals, and that appeal remains pending.Trump Lawyers Cite Biden’s Pardon in Bid to Get Hush Money Case Tossed
West Bengal Chief Minister Mamata Banerjee expressed dissatisfaction with the functioning of the opposition INDIA bloc, signaling her intent to take charge of the alliance if given an opportunity. The Trinamool Congress (TMC) supremo said she could manage the dual responsibility of running the opposition front while continuing her role as the chief minister of West Bengal. ''I had formed the INDIA bloc, now it is up to those leading the front to manage it. If they can't run the show, what can I do? I would just say that everyone needs to be taken along,'' she said in an interview with Bengali news channel News 18 Bangla on Friday. Asked why she is not taking the charge of the bloc, given her credentials as a strong anti-BJP force, Banerjee said, ''If given the opportunity I would ensure its smooth functioning.'' ''I don't want to go outside West Bengal, but I can run it from here,'' she said. The INDIA bloc, formed to counter the BJP, comprises over two dozen opposition parties. However, internal differences and a lack of coordination have drawn criticism from various quarters. Her remarks come days after her party MP Kalyan Banerjee called on the Congress and other INDIA bloc allies to set aside their egos and recognise Mamata Banerjee as the leader of the opposition alliance. The BJP delivered a stunning performance in Maharashtra, securing a record number of seats that propelled the party-led ruling Mahayuti alliance to a landslide victory, while the INDIA bloc made a strong comeback in Jharkhand, driven by a spectacular showing from the JMM. The Congress continued its losing streak, posting its worst-ever performance in Maharashtra and ending up as a distant junior partner to the ruling JMM in Jharkhand, with its role in the opposition bloc further diminishing as other allies outperformed it. On the other hand, the TMC's recent bypoll victories defeating the BJP have reinforced the party's dominance in West Bengal, despite opposition campaigns focusing on controversies like the RG Kar Medical College protests. The CPI(M)-led Left Front, its ally CPI(ML) Liberation, and the Congress, allies of the TMC at the national level in INDIA bloc, all suffered major setbacks, with their candidates losing their deposits. While Congress being the largest party of the INDIA bloc has often been perceived as the coalition's de facto leader, the TMC has consistently advocated for Mamata Banerjee to take the reins of the alliance. (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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Trump says he'll nominate Kash Patel as FBI director to remake the agency. Here's what happens nextWINDHOEK, Namibia (AP) — Namibia elected its first female leader as Vice President Netumbo Nandi-Ndaitwah was declared the winner Tuesday of a presidential election last week that was tarnished by technical glitches that caused a three-day extension to allow votes to be cast, and rejected as illegal by opposition parties. The 72-year-old Nandi-Ndaitwah won with 57% of the vote, defying predictions that she might be forced into a runoff. Her ruling SWAPO party also retained its parliamentary majority, although by a very thin margin, and extended its 34-year hold on power since the southern African country gained independence from apartheid South Africa in 1990. Namibia, a sparsely populated country of around 3 million on the southwestern coast of Africa, has a reputation for being one of the continent's more stable democracies and the problems around the election have caused consternation. Last Wednesday's vote was marred by shortages of ballot papers and other problems that led election officials to extend voting until Saturday. Opposition parties have said the extension is unconstitutional, and some have pledged to join together in a legal appeal to have the election invalidated. The Electoral Commission of Namibia, which ran the election, rejected opposition calls for a redo of the vote. It has undermined Nandi-Ndaitwah's place in history. She is set to become her country's fifth president since independence and a rare female leader in Africa. She was a member of Namibia's underground independence movement in the 1970s and received part of her higher education in the then-Soviet Union. She was promoted to vice president in February after President Hage Geingob died while in office . Nangolo Mbumba, who became president after Geingob's death, didn't run in the election. The ruling SWAPO party won 51 seats in the parliamentary vote, only just passing the 49 it needed to keep its majority and narrowly avoiding becoming another long-ruling party to be rejected in southern Africa this year. It was SWAPO's worst parliamentary election result. A mood of change has swept across the region, with parties that led their countries out of white minority or colonial rule in neighboring South Africa and Botswana both losing their long-held political dominance. South Africa's African National Congress, which freed the country from the racist system of apartheid, lost its 30-year majority in an election in May and had to form a coalition. Botswana's ruling party was stunningly removed in a landslide in October after governing for 58 years since independence from Britain. Mozambique's long-ruling Frelimo has been accused of rigging an October election and has faced weeks of violent protests against its rule. SWAPO faced similar challenges as those countries, with frustration at high unemployment and economic hardship, especially among young people, driving a desire for era-ending change. In a brief speech after the results were announced late Tuesday night, Nandi-Ndaitwah said Namibians had voted for peace, stability and youth empowerment. “We are going to do what we promised you during the campaigns. Thank you for your confidence and trust in us," she said. Nandi-Ndaitwah was also due to address the nation on Wednesday morning. “SWAPO Wins. Netumbo Wins. Namibia Wins. Now Hard Work,” the ruling party posted on its official account on social media site X. Some opposition parties boycotted the announcement by the Electoral Commission of Namibia at its results center in the capital, Windhoek. The commission has been roundly criticized for its running of the vote, with many angry Namibians complaining they had to wait hours and sometimes over multiple days for the chance to vote. Just over 1 million votes were cast out of 1.4 million registered voters, according to the electoral commission. Panduleni Itula, the leading opposition candidate from the Independent Patriots for Change party, was second in the presidential election with 25% of the vote. His party won the second-largest number of seats in Parliament behind SWAPO. Itula and his party have led the criticism of the vote and said they will lodge their appeal against the election this week. Other opposition parties said they will join that legal challenge. Itula has said that thousands of voters may have been prevented from voting as only some polling stations allowed an extension. "This election has violated the very tenets of our Electoral Act. Namibians deserve the right to choose their leaders freely and fairly, not through a rigged process,” he said. Namibia is a former German colony that came under South African control after World War I and its Black majority was later subjected to some of South Africa’s apartheid policies. SWAPO was at the forefront of the battle for independence from South Africa. While the country has swaths of desert running through it, it has diamond and uranium resources and untapped oil and gas off its coast that is being explored by international companies and could make it a major producer of both. AP Africa news: https://apnews.com/hub/africa