Voters in Switzerland will go to the polls on Sept. 27 to decide whether the country will spend billions on new fighter jets.
Voters in Switzerland will go to the polls on Sept. 27 to decide whether the country will spend billions on new fighter jets.
"Break the law here, and I've got something for you," Philadelphia District Attorney Larry Krasner warns Trump.
Justin Turner and the Dodgers seem confused about the goals of pandemic protocols: Not to finish a baseball season, but to protect people from the very real, very ongoing threat of the coronavirus.
MADISON, WI—Swing-state voters have to put up with a lot during even the most lopsided presidential campaigns. Airwaves flooded with campaign ads. Diners overrun with national reporters looking for the perfect undecided white man. And a deluge of phone calls from pollsters and pranksters.But it’s 2020, so voters in Wisconsin also have to contend with uncontrolled outbreaks of the coronavirus after months of bitter fights between state GOP leaders and Democratic Governor Tony Evers over even the most trivial of mandates to protect public health.With just a few days left before the presidential election, former Vice President Joe Biden holds a small lead over President Donald Trump in a state the president won by just over 20,000 votes in 2016. And conversations with voters and local political observers suggest anger at Trump’s response to the COVID-19 pandemic is powering that slim advantage.“COVID has had a huge impact here in Wisconsin and the county I live in. I just bought a farm and am struggling to keep my animals fed and keep the farm going well,” Teri Leschner, 50, of Sharon, WI, told The Daily Beast.Early Voters in Florida and Wisconsin Are Done With the MailLeschner was one of several voters who told The Daily Beast they voted for Trump in 2016 but could not support him this time—in no small part because of the pandemic and the attendant economic collapse. “Trump I feel has lied to us all,” she said. “He said he cares about the smaller family farmers, but we have not seen any help nor caring.”Dusty Hartl of West Allis, 24, told the Daily Beast that despite supporting Bernie Sanders in the 2016 Democratic primary, he voted for Trump in 2016 because he felt Trump was the “only candidate not preaching business as usual.” He also said that his parents and extended family voted for Trump. “It felt like a safer option,” he said.Residents have had much more than four years to experience the consequences of what besieged Democrats in the state have long described as iron-fisted minority rule and spite-based government. After Scott Walker was elected Governor in 2010, he and his allies in the state senate and assembly fine-tuned tactics that Trump and national Republican leaders apparently hope will carry them to another squeaker of a win in the state. Walker and the GOP cut early voting times, lengthened residency requirements, and added voter identification requirements, a strategy echoed by Trump rhetoric and legal challenges this year.But Wisconsin Republicans also passed a slew of laws during a 2018 lame duck session that stripped Gov. Evers of many of his executive powers, which—along with dissatisfaction with the president’s response at the national level—seems to be driving backlash in a state in crisis. Just this week, the Wisconsin Badgers had to cancel their football game against Nebraska thanks to a COVID-19 outbreak that reached the team quarterback and head coach. And based on current case numbers, the state will run out of ICU beds and the nurses needed to staff them in as little as two weeks.“About 3/4 of the Obama-Trump voters we’ve interviewed across the upper Midwest for the Swing Voter Project will stick with President Trump,” Rich Thau, president of Engagious and moderator of the Swing Voter Project, a group that has been conducting monthly focus groups in key states, told The Daily Beast in an email. “Of the remaining 1/4 who’ll choose Biden, most are doing it based upon dissatisfaction with the president’s handling of the pandemic, not out of a particular fondness for Biden himself.”Trump won Wisconsin in 2016 by only 22,748 votes, less than one percentage point.It’s not an overstatement to say that a Wisconsin winter without family gatherings, school, normal hunting and ice-fishing, and stereotypical fare like tailgating parties at Lambeau Field will suck much of what makes long months of freezing temperatures and darkness bearable. Gov. Evers announced $47 million in CARES act funding to assistance programs on October 5, but this will not be enough to meet existing needs. Without additional stimulus funding from the federal government, low-income residents will struggle to afford heat, food, and healthcare, and small businesses are unlikely to survive the winter.Leschner, who has been farming for the last 20 years, worries about how she’ll survive. “I won't lose my farm, but it is going to put me in serious debt borrowing money from friends. They keep playing with this stimulus, and it is playing on our minds,” she said.Among the many other reasons voters have to distrust Trump this year: the debacle of Taiwanese electronics manufacturer Foxconn receiving billions of dollars in tax subsidies to build a factory in Mount Pleasant, WI, in exchange for an alleged 13,000 jobs and an economic windfall for the state. Trump attended the factory’s groundbreaking in 2018, where he called it the “eighth wonder of the world.” Foxconn founder Terry Gou has said he remains committed to the plan to set up in Wisconsin, but dozens of homes were destroyed, millions of dollars were spent to acquire land and build roads and infrastructure, and no one can say with any clarity what the company’s investment might ultimately look like.Trump isn’t the only one being blamed for the staggering numbers of new COVID-19 cases in the state. A review by WisPolitics.com, a news site dedicated to state politics, named Wisconsin’s legislature the least active full-time body in America at the beginning of October, and it has not passed a bill since April, essentially the entire length of the pandemic. But Republican legislative leaders Robin Vos and Scott Fitzgerald have had time to support legal challenges to Gov. Evers’ stay at home order, mask mandates, and limits to public gatherings. The most recent poll from Marquette Law School found that 50 percent of residents disapproved of how the state legislature was doing its job, while only 36 percent approved, a 10 percent shift since May.COVID-19 Can’t Stop Early Voters in Wisconsin“In Wisconsin, there may be a reverse coattail effect: people who are unhappy with the Republican-dominated state legislature's refusal to support strict health measures may be moved to turn against Trump, as the legislature has brought his rhetoric home as actual policies on the ground,” Howard Schweber, a political science professor at the University of Wisconsin-Madison, told the Daily Beast. .For her part, Leschner said “the state’s government was a huge factor” for her. Likewise, Hartl said that Trump’s attitude towards the pandemic—one echoed by the state GOP—frustrated him and left him frightened for his vulnerable Republican family members in the state.“Why is my 70-year old grandma not following the science?” he asked.Ultimately, there are simply far fewer undecided voters than there have been in the past. More than 1.5 million people have already cast their votes in Wisconsin in-person and via absentee ballot, around half of the state’s total votes in 2016.Hartl told the Daily Beast “it was a no-brainer” to switch his vote this election. He has only been able to convince one family member, his paternal grandmother, to switch from Trump to Biden, but he’s proud of his success.“Now she just yells at him whenever she sees him on TV,” he said.Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
MyRent, Singapore's peer-to-peer rental marketplace, and Reebelo, Singapore-based marketplace for sustainable electronics, come together to bring the latest smartphones and gaming consoles to Singapore for as low as SGD 30 per week.
Tricor Group (Tricor), Asia's leading business expansion specialist providing integrated business, corporate, investor, human resources and payroll, corporate trust and debt services and strategic business advisory is pleased to announce that Tricor Axcelasia, a wholly owned subsidiary of Tricor Group, has expanded its full range of corporate governance, risk and compliance (GRC) solutions into Singapore to offer risk management, internal audit and sustainability advisory to the C-suites and boards of publicly listed companies, private companies, multinational corporations and government-linked entities.
AVATAMED (www.avatamed.com), a precision medicine service company based in Singapore, represented by CEO Mr. Hong Boon Toh, has entered into a business agreement on 29 October 2020 with Macrogen (www.macrogen.com), a biotechnology company in precision medicine headquartered in South Korea, represented by CEO Mr. Sukang Lee, for the purpose of collaborating on personalized precision medicine services in cancer treatment.
Seedly, the largest Personal Finance community in Singapore, is joining forces with CompareAsiaGroup, Asia's leading techfin company, with a portfolio of brands across six markets in Asia including Hong Kong, Malaysia, the Philippines, Singapore, Taiwan and Thailand.
Bacon-flavored chews mindfully created to soothe itchy skin, reduce environmental and seasonal allergies, improve immune function, and more
Arconic Corp. (NYSE: ARNC) ("Arconic" or "the Company") will hold a webcast and teleconference to discuss third quarter 2020 financial results on Thursday, November 5, 2020 at 10 a.m. Eastern Time. The Company will issue its press release announcing financial results for the third quarter ended September 30, 2020, prior to the opening of the market on November 5, 2020.
'Maybe he’s working for the Chinese,' former mayor baselessly claims
Futures fell sharply, suggesting Thursday's market rally may be fleeting. Apple sank on weak China sales. Amazon also fell. But Google jumped on a huge night for earnings.
With just five days left until the election, President Donald Trump and his rival, former Vice President Joe Biden, spent Thursday focused on the key battleground state of Florida, holding dueling rallies there.
A team of firefighters went above and beyond to lift the spirits of a patient at a suburban rehabilitation hospital.
Record Revenue in Q420 and FY2020 Achieves Fourth Sequential Quarterly Adjusted EBITDA ImprovementOTTAWA, Oct. 29, 2020 (GLOBE NEWSWIRE) -- HEXO Corp. (TSX: HEXO; NYSE: HEXO) (“HEXO” or the "Company") today reported its financial results for the fourth quarter and fiscal year ended July 31, 2020. All amounts are expressed in Canadian dollars unless otherwise noted.“HEXO’s topline growth this quarter reflects the ongoing performance and success of our 2.0 products and the high quality of our offering which repeatedly resonates with consumers. We are commanding significant market share in Quebec and this year we made major strides by launching Truss cannabis infused beverages in Canada in addition to our initial foray into the U.S. with Molson Coors, a world-class partner,” said Sebastien St-Louis, CEO and co-founder of HEXO.St-Louis continued, “Our business is improving quarter over quarter as we continue to focus on achieving positive Adjusted EBITDA. In the fourth quarter we also strengthened our balance sheet as we look beyond positive Adjusted EBITDA to positive EPS.”Key Financial & Operating Highlights from Q420 * Revenue per gram equivalent for non-beverage adult-use sales increased to $4.07 or 29% from the previous quarter, * Continued market expansion and first quarter of contribution from cannabis beverage products “powered by HEXO” in the fourth quarter, contributing $2.0M of net revenue * Net revenue of $27.1M, up 23% from the previous quarter and 76% from the same quarter in the prior year * Gross revenue of $36.1M, the highest in the company’s history, increasing 17% from the previous quarter and 76% from the same quarter in the prior year * Adjusted EBITDA of ($3.25M), representing a 21% improvement from the previous quarter; tracking towards positive Adjusted EBITDA in the first half of fiscal 2021 * The Company maintained Gross Margin before adjustments of 42%, on sales excluding adult-use beverages, as the Company continued its strategy of providing consumers with high quality, lower priced alternatives * Increased cash and cash equivalents by 95% from the prior quarter. This was accomplished primarily through the Company’s financing activity in the period where net funds of $54M and $33M were raised through the May 2020 public offering and the June 2020 at-the-market offering, respectively * The Company’s working capital was $223M, including $184M of cash * Operational cash use of ($3.8M)1 for the quarter, not including financing and investing activities * The Company recorded write downs to inventory of $43M to align the Company with future demand and near-term production plan. The Company recorded impairments to property, plant and equipment of $46.4M, right sizing the balance sheet to align with future performance and support a pathway to positive earnings per share_______________________________ 1 Operational cash use was calculated as the change between the cash used in operating actives for the year ended July 31, 2020 as compared the cash used in operating activities for the 9 months ended April 30, 2020. Financial Highlights For the three months ended For the twelve months ended Income Statement SnapshotJuly 31, 2020 April 30, 2020 July 31, 2019 July 31, 2020 July 31, 2019 $ $ $ $ $ Revenue from sale of goods 36,140 30,895 20,517 110,149 59,256 Excise taxes (9,082)(8,817)(5,122) (29,598)(11,914) Net revenue from sale of goods 27,058 22,078 15,395 80,551 47,342 Ancillary revenue 87 54 29 233 199 Gross (loss)/profit before adjustments1 8,104 8,783 5,133 26,953 21,344 Gross (loss)/profit before fair value1 adjustments2 (36,012)7,452 (14,202)(46,421)2,009 Gross (loss)/profit (34,690)5,730 (16,165)(57,975)24,508 Operating expenses (71,509)(26,485)(46,902)(418,576)(111,482) Loss from operations (106,199)(20,755)(63,067)(476,551)(86,974) Other income/(expenses and losses) (63,333)1,699 125 (75,961)(847) Net loss before tax (169,532)(19,056)(62,942)(552,512)(87,821) Tax recovery – – 18,213 6,023 18,213 Total Net loss (169,532)(19,056)(44,729)(446,489)(69,608) 1 Refer to the Company’s “Non-IFRS Measures” section as disclosed in the fiscal 2020 Management’s Discussion and Analysis. Fourth Quarter 2020 Highlights Gross revenue in Q4’20 increased 17% to $36.1M from $30.9M in Q3’20, and 76% from $20.5M in Q4’19. The primary drivers of the increase were the Company’s cannabis 2.0 products, launching cannabis vapes into the market, which is a new sales stream and contributed $1.3M to gross sales, as well as $2.4M of beverage based adult-use sales, another new revenue stream that began mid-fiscal year, and from international sales of $1.3M reflecting the Company’s purchase agreement established with an Israel based medical cannabis company.Gross margin before fair value adjustments in Q4’20 was 30%, compared with 40% in the prior sequential quarter. While the Company’s gross margin has been trending upward in the year driven by production efficiencies, automation of packaging activities, and choice of strain cultivation, the Company’s adult use beverage launch caused an impact to margins in 4Q20 as operating and overhead costs were recognized in cost of sales without the benefit of fully scaled production and sales. As previously noted, the Company had expected to see fluctuations in gross margins related to new product introductions. Adult-Use (excluding beverages)MedicalInternationalWholesaleTotal non-beverageAdult-use beverages Company total For the three months ended July 31, 2020$$$$$ $ $ Net revenue22,5755481,29165525,069 1,989 27,058 Cost of sales13,66311964222214,646 4,395 19,558 Gross profit before adjustments ($)8,91242964943310,423(2,406)7,500 Gross margin before adjustments (%)39%78%50%66%42%(121%) 28% For the three months ended April 30, 2020 $$$$$$ $ Net revenue20,614693–34021,647431 22,078 Cost of sales11,826163–19812,187 1,162 13,349 Gross profit before adjustments ($)8,788530–1429,460 (731)8,729 Gross margin before adjustments (%)43%76%–42%44%(170%)40% Operating expenses were $71.5M in the quarter, and loss from operations for Q420 was $106.2M. Included in Q420 operating expenses were the following items: * Impairments of property, plant and equipment of $46.4M * Loss on onerous contract of $1.8M * Restructuring costs of ($0.1M) Adjusted EBITDA1 Q4’20 Q3’20 Q2’20 Q1’20 Q4’ 19 $ $ $ $ $ Total net loss (169,532)(18,837)(297,867)(60,016)(44,729) Income taxes (recovery)– – – (6,023)(18,213) Finance expense (income), net 2,069 2,926 3,281 (136)(1,270) Depreciation, included in cost of sales1,254 950 920 433 446 Depreciation, included in operating expenses1,179 1,566 1,992 1,333 582 Amortization, included in operating expenses249 341 1,683 1,666 1,406 Investment (gains) losses Revaluation of financial instruments loss/(gain)1,433 (4,955)(2,714)(297)(543) Share of loss from investment in joint venture1,863 1,195 1,591 1,682 1,253 Loss/(gain) on convertible debentures86 212 413 2,627 125 Unrealized loss on investments4,345 311 6,553 1,671 38 Realized loss/(gain) on investments– 1,217 242 (17)215 Foreign exchange loss/(gain)1,623 (2,443)(617)46 51 Loss on inducement of convertible debentures54,283 – – – – Non-cash fair value adjustments Realized fair value amounts on inventory sold6,656 10,764 5,447 6,663 7,285 Unrealized gain on changes in fair value of biological assets (7,978)(6,379)(7,948)(7,051)(5,322) Non-recurring expenses Restructuring costs(79)865 259 3,722 – Other non-cash items Share-based compensation, included in operating expenses 4,373 5,651 7,603 8,164 10,197 Share-based compensation, included in cost of sales511 396 964 238 936 Write-off biological assets and destruction costs– – – 663 – Write-off of inventory2,217 – – 2,175 – Write down of inventory to net realizable value41,899 (1,331)16,089 23,041 19,335 Impairment loss on right-use-assets2,000 – 476 702 – Impairment loss on property, plant and equipment46,414 220 31,606 – – Impairment of intangible assets– – 106,189 – – Impairment of goodwill– – 111,877 – – Recognition of onerous contract1,763 – 3,000 – – Disposal of long-lived assets 122 3,237 497 – – Adjusted EBITDA (3,250)(4,094)(8,464)(18,704)(28,208) 1 Refer to the Company’s “Non-IFRS Measures” section as disclosed in the fiscal 2020 Management’s Discussion and Analysis. During the three months ended July 31, 2020, the Company’s Adjusted EBITDA improved 21% from the previous quarter, coming in at ($3.25M) compared with ($4.1M) for the three months ended April 30, 2020. Increased sales of Cannabis 2.0 products, while managing SG&A levels, were primary contributors to an improvement in Adjusted EBITDA. The Company’s wholesale activity and international sales also contributed, due to having higher margins, as these streams are exempt from excise taxes. Fiscal 2020 Year HighlightsRevenue from sale of goods increased 86% for fiscal 2020, totaling $110.1M compared to $59.3M in fiscal 2019. The Company’s net revenue from sale of goods for fiscal 2020 increased 70% to $80.6M, compared with $47.3M in the prior year.The Company strengthened its financial position by raising net cash of $186.7M during the year ended July 31, 2020 through various public and private offerings.Operating expenses increased to $418.6M in fiscal 2020, compared to $111.5M in the prior year. Included in fiscal 2020 are several non-cash expenses, namely $111.9M impairment of goodwill, $108.2M impairment of intangible assets, $79.4M impairment of property, plant and equipment, $4.8M of restructuring costs and $4.8M loss on an onerous contract. Not including these items, operating expenses are $110.5M, down $1.6M from the prior year, even as there was a significant increase to the scale of the Company’s operations, including a number of product launches.Loss from operations for the fiscal year was $476.6M, compared to an operating loss of $87.0M for the prior year.The Net loss for fiscal 2020 year was $546.5M compared to $69.6M in the prior year. Included in Net loss in fiscal 2020 are the items noted above, in addition to a $54.3M loss on the inducement of convertible debentures.The management’s discussion and analysis for the period and the accompanying financial statements and notes are available under the Company's profile on SEDAR at www.sedar.com and on its website at www.hexocorp.com. Non-IFRS MeasuresIn this press release, reference is made to gross profit before adjustment, profit/margin before fair value adjustments, adjusted gross profit/margin, adjusted EBITDA, and revenue per gram equivalent which are not measures of financial performance under International Financial Reporting Standards (IFRS). These metrics and measures are not recognized measures under IFRS, do not have meanings prescribed under IFRS and are as a result unlikely to be comparable to similar measures presented by other companies. These measures are provided as information complimentary to those IFRS measures by providing a further understanding of our operating results from the perspective of management. As such, these measures should not be considered in isolation or in lieu of a review of our financial information reported under IFRS. Definitions and reconciliations for all terms above can be found in the Company’s Management’s Discussion and Analysis for the three months ended July 31, 2020, filed on SEDAR and EDGAR.Conference CallThe Company will hold a conference call, Friday, October 30th, 2020 to discuss these results. Sebastien St-Louis, CEO, and Trent MacDonald, CFO, will host the call starting at 8:30 a.m. Eastern standard time. A question and answer period will follow management’s presentationDate: October 30, 2020Time: 8:30 a.m. EST Webcast: https://event.on24.com/wcc/r/2771524/47E7001045651D265D3F12D203F6F5A4For previous quarterly results and recent press releases, see hexocorp.com.About HEXO CorpHEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com. Forward-Looking StatementsThis press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors that could cause actual events, results, performance and achievements to differ materially from those anticipated in these forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results. Forward-looking statements in this press release include but are not limited to the Company’s statements with respect to management’s belief that certain expenses included in operating expenses are non-recurring and related to significant changes in market conditions and the refocus of its operations on becoming Adjusted EBITDA positive.A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and other continuous disclosure filings, which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.Investor Relations: invest@HEXO.com www.hexocorp.comMedia Relations: (819) 317-0526 email@example.com
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