Yahoo Sports College reporter Pete Thamel takes you through 7-seed Oregon’s trouncing of 2-seed Iowa behind hot shooting and a great gameplay, and explains how the Pac-12 has taken the 2021 NCAA Tournament by storm.
Yahoo Sports College reporter Pete Thamel takes you through 7-seed Oregon’s trouncing of 2-seed Iowa behind hot shooting and a great gameplay, and explains how the Pac-12 has taken the 2021 NCAA Tournament by storm.
President Joe Biden called on Americans to turn Chauvin's guilty verdict into a "moment of significant change" to fight systemic racism in policing.
The market rally slumped again Tuesday, hurting leaders. Netflix plunged late on weak subscribers, but three stocks flashed buy signals.
(Bloomberg) -- The competition between Wang Xing’s Meituan and fellow tech billionaire Jack Ma’s Alibaba Group Holding Ltd. is turning into one of the great rivalries in Chinese business.While Alibaba is the dominant force in e-commerce with a global reputation, Wang, a generation younger, has built Meituan into a fearsome rival, the world’s largest delivery empire with ambitions to encroach on Alibaba’s home turf. There’s also years of bad blood between the two companies after an early alliance broke down.Now Wang, 42, has raised a record $10 billion to develop promising technologies like autonomous delivery vehicles and drone delivery to reduce labor costs and expand the footprint of Meituan’s food and e-commerce network. These investments, analysts say, will be key to supporting what Wang has previously called its “top priority”: community e-commerce, an arena where tech giants from the likes of Alibaba to JD.com Inc. and Pinduoduo Inc. are all seeking a foothold.“Wang Xing is a driven entrepreneur and calculated strategist,” said Michael Norris, a senior analyst with Shanghai-based consultancy AgencyChina. “Community group buying is a ‘must play, must win’ segment for Meituan.”Wang and other tech tycoons will need to tread carefully. Over the past six months, China’s antitrust watchdog has rolled out new laws giving them greater oversight of the internet sphere, and launched investigations into abuses like forced exclusive arrangements and offering preferential pricing to new customers. After Alibaba was slapped with a record $2.8 billion fine this month, investors now expect Meituan and its backer Tencent Holdings Ltd. to be next in the line of fire, given their dominance in meal delivery and other spheres of internet life as well as past brushes with the law.What Is Behind China’s Crackdown on Its Tech Giants: QuickTakeMeituan’s community e-commerce arm was among a handful of operators penalized in March for excessive subsidies, alongside units of Pinduoduo Inc. and Didi Chuxing. State media have called out the industry’s preoccupation with growing grocery deliveries instead of driving innovation, while the deaths of delivery riders in the past have also led to scrutiny of Meituan’s business practices. In January, it also shut down its crowd-sourced health insurance service after regulators tightened scrutiny over online insurance.The record fundraising -- the largest-ever new stock issuance by a Hong Kong-listed company -- appears to defy expectations that the days of unfettered expansion for Chinese internet entrepreneurs are over. The $10 billion raised will more than double Meituan’s cash, giving it the biggest war chest after Alibaba’s, to invest in new technologies like autonomous delivery and build infrastructure for online groceries. While the company didn’t single out the red-hot community commerce space in its deal term sheet Monday, investors expect Meituan to funnel capital into that sector to secure a slice of the pie.Wang’s firm, which has been cultivating autonomous delivery for years, will face stiff competition in this area from rivals including Didi and JD.com, which have also been exploring the technology. Alibaba, for its part, made its first trial drone delivery in 2015. Meituan’s efforts have accelerated since the Covid-19 outbreak last year and it’s so far deployed self-driving vehicles to deliver 35,000 grocery orders in Beijing. In Shenzhen, its drones have also delivered more than 1,000 orders as of mid-April since a pilot program kicked off in January.Wang, a coding guru whose methodical obsession with data and algorithms proved instrumental in humbling Alibaba’s rival meal service Ele.me, has openly telegraphed his ambitions. In a 2017 interview with local media, he said Meituan could join Alibaba and Tencent as the third member of a Chinese internet triumvirate in five to 10 years, due to the value it creates in food, travel and other services.“I don’t believe in setting limits for myself,” Wang said in the interview. “As long as we’re clear on our core purpose -- Who are we serving? What services do we offer? -- we will just keep trying different types of businesses.”But his past gambles have been somewhat hit or miss. An early foray into ride-hailing petered out when Chinese regulators cracked down on Didi. He bought Mobike in a deal valuing the startup at $3.4 billion in 2018, the height of China’s bike-sharing bubble, and has since had to scale back the business’s overseas operations. The travel division got sideswiped by Covid and lacks a roadmap to profitability against Trip.com Group Ltd. In all, Meituan has launched as many as 200 services over the years.“Wang is certainly a very ambitious tech executive,” said Brock Silvers, chief investment officer at private equity fund Kaiyuan Capital in Hong Kong. “For successful Chinese entrepreneurs, however, ambition can sometimes correlate to a lack of focus.”Now the serial entrepreneur, worth roughly $21.3 billion, is tooling up for his biggest battle yet, taking on Pinduoduo, JD.com and a host of nimbler startups in the field of groceries. As Meituan deepens its presence in e-commerce, the biggest rival standing in his way is Ma’s Alibaba.The animosity between Wang and Ma dates back more than half a decade. Alibaba -- an early investor in Meituan -- refused to put more money into the startup in mid-2015 because it wouldn’t fully integrate its app with the larger firm’s. In response, Wang turned to Alibaba’s arch-rival Tencent, which pledged $1 billion of funding, merged its delivery services with Meituan and allowed the combined company to operate independently, sidelining his one-time partner.Read more: The Greatest Delivery Empire on Earth Has Alibaba’s AttentionIn an interview with Bloomberg News published in 2019, Wang said he thought Ma had “an integrity problem,” citing the way he spun off digital payments subsidiary Alipay without the approval of Alibaba’s board. Instead, Wang called Amazon.com Inc. founder Jeff Bezos a role model, pointing to his willingness to defer profits and reinvest in new business.Meituan is now adopting that same philosophy, saying in March it expects to stay in the red for the coming quarters as it ventures into online groceries. In particular, it’s expanding aggressively into community e-commerce, where buyers in the same neighborhood enjoy bulk discounts on fresh produce. The market is estimated to reach nearly 121 billion yuan ($19 billion) this year, drawing heavy investments from other tech giants.“The cash burn in grocery will be quite brutal, just like with the ride-hailing wars,” said He Qi, a fund manager at Huatai Pinebridge Fund management. “Cash is a necessity in winning this one, and whoever is victorious will be reap great rewards because grocery shopping is a higher frequency transaction.”(Updates with share action chart in the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Point guard Sahvir Wheeler, who led Georgia in scoring as a sophomore, said Tuesday he is entering his name in the NCAA's transfer portal while also exploring his NBA options. Wheeler averaged 14.0 points to lead Georgia while also leading the Southeastern Conference with 7.3 assists per game. Wheeler, from Houston, announced on his Twitter feed he is protecting his eligibility while declaring for the NBA draft.
The global grocery sector grew a record 10% in 2020, industry data showed on Wednesday, as people stuck at home under COVID-19 restrictions cooked, baked and drank more. Market researcher Kantar said everything from canned meat and beer to sugar and bleaches flew off the shelves, with the United States accounting for the largest chunk of the spending, followed by Western Europe, Latin America, Eastern Europe and Asia. Data for the report was collected from households in 42 countries, representing 66% of the global population and 83% of gross domestic product (GDP), Kantar said.
BASIS Tucson North is joining thousands of schools throughout the United States, Canada, and around the world to celebrate National Student Leadership Week from April 18–24, 2021. The week is dedicated to recognizing and reinforcing the important role of student leaders. The theme for this year's event is "Leadership Unlimited."
Tesla Inc's vehicle registrations in California dropped marginally during the first quarter compared with last year, weighed down by a slump in Model 3 registrations, according to data from Cross-Sell https://info.cross-sell.com/tesla-special-report-0, a research firm that collates title and registration data. California registrations for Tesla's Model 3 mass-market sedan fell 54% on a yearly basis to 8,060, while Tesla's Model Y compact crossover utility vehicle garnered 12,227 in the first quarter, Cross-Sell data showed on Tuesday.
Netflix Inc. has come back down to earth after massive gains during the opening months of the COVID-19 pandemic.
BUTTE, Mont., April 20, 2021 (GLOBE NEWSWIRE) -- NorthWestern Energy has entered into multiple contracts for projects to acquire 325 megawatts of dispatchable capacity resources: procurement and construction agreements for a 175 megawatt natural gas plant; a pending agreement to purchase capacity from a 50 megawatt battery storage project; and a power purchase agreement for 100 megawatts of predominantly hydroelectric resources. The contracts were entered into after NorthWestern Energy completed its competitive solicitation process for long-term capacity resources issued in January 2020. This will reduce NorthWestern Energy’s capacity deficit, decrease risk associated with market volatility and potential lack of availability, and provide increased reliability for our Montana customers. The additional capacity to produce energy will address more than half of NorthWestern Energy’s deficit in its supply portfolio serving Montana. The deficit is becoming more critical as some regional coal plants and other capacity resources are being shut down, compromising reliability during extreme weather conditions, including multi-day events, when energy demand is high. NorthWestern Energy’s independent, third-party request for proposals evaluator, Aion Energy, received 180 proposals representing a wide variety of technologies from 21 bidders. NorthWestern Energy has selected three resources from the proposals submitted in response to the company’s request for proposals: NorthWestern Energy’s Laurel Generating Station will be a new 175 megawatt, reciprocating internal combustion engine (RICE units), natural gas plant in Laurel, Montana.Powerex Corp., a subsidiary of BC Hydro, has entered into a five-year power purchase agreement with NorthWestern Energy for 100 megawatts of capacity and energy products originating predominately from hydroelectric resources.Contract pending on an Energy Storage Project that will be a 50 megawatt battery storage system utilizing lithium-ion technology. “This selection of diverse projects will provide critically needed flexible capacity from a combination of thermal and renewable resources,” said NorthWestern Energy Vice President Supply and Montana Government Relations John Hines. The selected resources provide diversity in ownership and technology, including owned and market-based resources and the largest battery-storage project within Montana. “This resource portfolio addresses a key portion of our immediate need for generation capacity while also allowing us to make progress toward our goal of an energy supply portfolio in Montana that reduces the carbon intensity of our electric generation by 90% by 2045,” said NorthWestern Energy Chief Executive Officer Bob Rowe. NorthWestern Energy expects to submit an application for approval of the Laurel Generating Station and the 20-year contract for the pending Energy Storage Project to the Montana Public Service Commission on or about May 14, 2021. We anticipate the regulatory process to take approximately 9 months. The $250 million Laurel Generating Station is expected to be available to serve customers by Jan. 3, 2024. For the 175 megawatt natural gas-fired RICE plant near Laurel, Caterpillar Power Generation Systems, LLC, a subsidiary of Caterpillar, Inc. will supply the RICE units and Burns & McDonnell Engineering Company, Inc. was selected as the Engineering, Procurement, and Construction (EPC) contractor. Burns & McDonnell has a solid reputation as a superior EPC contractor, particularly for RICE facilities. The Caterpillar RICE units are highly reliable and efficient with low emissions. The selected engines are capable of rapid ramping and multiple daily starts and stops. These units have the flexibility to provide power on-demand, baseload power, flexible capacity, and regulation services. These characteristics will facilitate the integration of existing and new intermittent renewable energy resources into our portfolio. The 50 megawatt battery energy storage system, is expected to be available to serve NorthWestern Energy’s Montana customers by the end of 2023. “The energy storage project will provide the opportunity to store some excess energy from the grid to use when customer demand is high,” NorthWestern Energy Director Long-Term Resources Bleau LaFave said. “Today, NorthWestern Energy most frequently has excess energy on the grid from wind resources. Now we will have the opportunity to store a portion of that excess energy to improve matching the generation with customer demand and higher market pricing.” “The five-year 100 megawatt power purchase agreement with Powerex, the marketing entity for BC Hydro, will provide our customers with capacity mainly from the BC Hydro system starting in Jan. 1, 2023” said LaFave. “Our Montana customers require this capacity as soon as it is available. This market product can be delivered on our existing transmission assets.” NorthWestern Energy is still short of the capacity resources needed to produce energy reliably at the times when our Montana customers require it the most. “The 2020 RFP process provided an opportunity to see what projects and technology are available,” said NorthWestern Energy President and Chief Operating Officer Brian Bird. “NorthWestern Energy’s new Laurel Generating Station will be able to provide on-demand capacity for long durations. With that asset added to our Montana portfolio, NorthWestern Energy can consider other, shorter duration capacity projects in future RFPs.” “Developing a diverse portfolio of resources capable of producing the energy our Montana customers need any time they need it is the responsible path forward as we all work together toward an affordable, reliable and cleaner energy future,” said Rowe. Follow us on Facebook or on Twitter (@NWEinfo). About NorthWestern Energy (Nasdaq: NWE)NorthWestern provides electricity and / or natural gas to approximately 743,000 customers in Montana, South Dakota, and Nebraska. We have generated and distributed electricity in South Dakota and distributed natural gas in South Dakota and Nebraska since 1923 and have generated and distributed electricity and distributed natural gas in Montana since 2002. More information on NorthWestern is available on the company’s website at www.northwesternenergy.com. Investor Relations Contact:Travis Meyer(605) firstname.lastname@example.orgMedia Contact:Jo Dee Black(866) email@example.com
CSP Global Technologies (CSP Global) announces the launch of LifeCycle, Asia's first Master Managed Service Provider (MMSP), a fully integrated, hassle-free standardised service-based cybersecurity solution for government institutions and enterprises.
RADNOR, Pa., April 20, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Credit Suisse Group AG (NYSE: CS) (“Credit Suisse”) on behalf of those who purchased or acquired Credit Suisse American Depositary Receipts ("ADRs") between October 29, 2020 and March 31, 2021, inclusive (the “Class Period”). Investor Deadline Reminder: Investors who purchased or acquired Credit Suisse ADRs during the Class Period may, no later than June 15, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at firstname.lastname@example.org; or click https://www.ktmc.com/credit-suisse-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=credit_suisse Credit Suisse is a global financial services company based in Zurich, Switzerland. Greensill Capital (“Greensill”), who for filed for insolvency protection on March 8, 2021, was a financial services company based in the United Kingdom and Australia focused on the provision of supply-chain financing and related services. Archegos Capital Management (“Archegos”) is a family office investment fund run by Sung Kook Hwang. Archegos’ investment holdings are primarily in the form of total return swaps, a financial instrument where the underlying securities are held by the banks that broker the investments. On March 1, 2021, Credit Suisse froze $10 billion in funds that were invested in Greensill’s financial products and held by its supply-chain investment funds. On March 8, 2021, Greensill filed for insolvency protection, as it found itself unable to repay a $140 million loan to Credit Suisse. According to the Financial Times, more than 1,000 investors in the Greensill funds marketed were unable to exit their positions. By March 10, 2021, media reports revealed that Greensill investors had retained counsel and intended to sue Credit Suisse for their losses because Credit Suisse continued to market the biggest of the funds as a fully insured, low-risk product despite a decision by insurers during the summer of 2020 not to renew coverage. As the market digested this news, the market price of Credit Suisse ADRs fell from its close of $14.70 per ADR on March 1, 2021 to close at $12.85 per ADR by March 12, 2021, a decline of almost 13%. Then, on Friday, March 26, 2021, several of the large banks offering prime brokerage services to Archegos – including Morgan Stanley, Goldman Sachs and UBS – suddenly began liquidating billions of dollars’ worth of shares that Archegos had swap positions on at fire sale prices after Archegos had failed to meet a margin call. By the time Credit Suisse tried to liquidate its own holdings of stocks underlying Archegos’ swap contracts over the ensuing weekend, prices had already collapsed and Credit Suisse quickly racked up billions of dollars in losses. Credit Suisse issued a press release on March 29, 2021 conceding that “the loss resulting from this exit . . . could be highly significant and material to our first quarter results.” The Financial Times then pegged Credit Suisse’s estimated losses at between $3 billion and $5 billion, more than a year’s worth of Credit Suisse’s net profit. The Wall Street Journal reported on March 31, 2021 that Credit Suisse “had a core capital buffer of 12.9% at year-end” and “[i]f the Archegos hit is $4 billion, that ratio could fall by roughly 1 percentage point to well below the 12.5% minimum targeted by the lender.” The market price of Credit Suisse ADRs fell another nearly 20% following this news, declining from a close of $13.21 per ADR on March 25, 2021 to close at $10.60 per ADR on March 31, 2021. The complaint alleges that throughout the Class Period, the defendants concealed material defects in Credit Suisse’s risk policies and procedures and compliance oversight functions and efforts to allow high-risk clients to take on excessive leverage, including Greensill and Archegos, exposing Credit Suisse to billions of dollars in losses. Credit Suisse investors may, no later than June 15, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com. CONTACT: Kessler Topaz Meltzer & Check, LLPJames Maro, Jr., Esq.Adrienne Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(844) 887-9500 (toll free)email@example.com
SUSE®, a global leader in innovative, reliable and enterprise-grade open source solutions, today announced the appointment of Vishal Ghariwala as its new Chief Technology Officer (CTO) for the Asia-Pacific and Japan (APJ), and Greater China regions. A visionary expert in the IT industry, Vishal's appointment will underpin and strengthen SUSE's expansion plans in these regions. He brings to SUSE a demonstrated track record and more than 20 years of experience in cloud computing, cloud native applications and middleware. He has spent half his career working in open source companies.
Today, Gazprom International Children's Social Programme Football for Friendship (F4F) announced the launch of the application process for children and young people from all over the world to apply to participate in this year's programme.
Qumulo Expands Global Presence to Asia Pacific; Expands Strategic Partnership with Hewlett Packard Enterprise
Calgary, Alberta--(Newsfile Corp. - April 20, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") is pleased to release the results of its December 31st, 2020 Oil and Gas Reserves Evaluation ("2020 Reserves Report") for Wyoming and Alberta. Cuda recorded significant progress in maturing its major asset at Barron Flats Shannon Secondary Recovery Unit ("SSRU") in the Powder River Basin of Wyoming. In the 2020 Reserves Report, Ryder Scott has ...
Looking for today's top growth stocks to watch? Floor & Decor (FND) fits the bill by earning a spot on IBD 50. For more on stock ideas on IBD 50 members, check out "Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists." The flooring retail stock is approximately 1% above a 108.64 buy point from a...
The killing of George Floyd led to widespread protests last summer, including in Idaho.
EXCLUSIVE: Prolific TV pilot director James Griffiths has been tapped to direct and executive produce ABC’s fairytale drama pilot Epic, from Once Upon a Time creators Adam Horowitz and Edward Kitsis and ABC Signature. Shooting is currently underway in Ireland. Epic, starring Brittany O’Grady, is described as a romantic anthology series that reinvents fairy tales […]
U.S. House of Representatives Speaker Nancy Pelosi on Tuesday drew criticism by thanking George Floyd, a Black man who became a symbol of the struggle for racial justice, after former Minneapolis police officer Derek Chauvin was found guilty of murdering him. During a news conference following Chauvin's conviction on three criminal counts, Pelosi called the outcome "a step in the right direction for justice." "Thank you, George Floyd for sacrificing your life for justice," Pelosi said, referring to Floyd's death in May as Chauvin pinned his knee on Floyd's neck for more than nine minutes.
English football’s so-called ‘big six’ have confirmed their intention to pull out of the proposed European Super League. Manchester City became the first team to quit the controversial project on Tuesday evening and were later followed by Manchester United, Liverpool, Tottenham and Arsenal. The PA news agency understands Chelsea have also begun proceedings to withdraw from the breakaway competition.