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AKRON, Ohio (AP) — Nate Johnson scored 25 points to help Akron defeat Alabama State 97-78 on Sunday. Johnson added five rebounds for the Zips (4-2). Bowen Hardman scored 19 points, shooting 6 for 7 from beyond the arc. Isaiah Gray went 4 of 7 from the field to finish with 11 points. The Hornets (3-3) were led by CJ Hines with 19 points. Tyler Mack added 18 points and Antonio Madlock scored 17. Akron took the lead with 6:46 left in the first half and did not relinquish it. Johnson led their team in scoring with 13 points in the first half to help put them up 50-41 at the break. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
Washington : Mexico and Canada have hit back at Donald Trump’s tariff plans, warning about the potential economic impact and urging the president-elect to choose cooperation over the prospect of retaliatory trade wars. In an ominous but unsurprising development on Monday, Trump announced on social media that he intended to slap heavy tariffs on America’s neighbours and top trading partners as soon as he returns to the White House in January. Donald Trump speaks on the southern border with Mexico in August. Only a fraction of his “beautiful wall” was built during his first term – and mainly to replace older dilapidated sections. Credit: AP Under the plan, Trump says a 25 per cent tariff would be imposed on Canada to the north and Mexico at the southern border unless they crack down on drugs and illegal immigrants coming into the US. In addition, he threatened that China would receive “an additional 10 per cent tariff” on top of tariffs already in place on Chinese goods unless the country implements the death penalty for drug dealers connected to the fentanyl trade. But as global markets digested the news, Mexico President Claudia Sheinbaum warned the tariff hike would fail to curb illegal migration or the consumption of illicit drugs in the US. Mexico President Claudia Sheinbaum said the tariffs would hurt her country and the US. Credit: Getty Images She also described the plan as “unacceptable” and something that “would cause inflation and job losses in Mexico and the United States”. “One tariff will follow another and so on, until we put our common businesses at risk,” Sheinbaum said in a letter to Trump, which she read at her daily press conference and planned to send to the president-elect later in the day. “Dialogue is the best path to achieve understanding, peace and prosperity for our two countries ... I hope our teams can meet soon.” Mexico is currently the United States’ top trade partner, representing 15.8 per cent of total trade, followed by Canada at 13.9 per cent. But Trump made it clear during his election campaign that he would readily use tariffs as leverage to tackle the tide of illegal immigrants coming into America. After Trump’s social media post, Canadian Prime Minister Justin Trudeau spoke to the president-elect as he sought to tamp down concerns about the potential impact on his country’s economy. Trevor Tombe, an economist who authored a report on the consequences of US tariffs on Canada’s economy, warned a recession was likely if Trump followed through on the 25 per cent tariff. The country’s premiers have warned a trade war would cause immense damage to their respective economies, while the Canadian dollar fell to its lowest level since May 2020. Trudeau, who has called an emergency meeting with worried provincial premiers for Wednesday (Thursday AEDT), told reporters he had a “good call” with Trump. Then-president Donald Trump and Canadian Prime Minister Justin Trudeau in 2019. Credit: AP “We obviously talked about laying out the facts, talking about how the intense and effective connections between our two countries flow back and forth,” he said. “This is a relationship that we know takes a certain amount of working on, and that’s what we’ll do.” In an echo of Trump’s politics, Trudeau initiated a U-turn on immigration, restricting flows of new migrants. He said last week Canada’s system had been exploited by “bad actors”. Trump’s vision for tariff hikes on Mexico, Canada and China were laid out in a Truth Social post on Monday night. “On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders,” he said. In a follow-up post, he also announced that the US “will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America”. The reason, he said, was China’s failure to curb the number of drugs entering the US. China is a major producer of precursor chemicals that are acquired by Mexican drug cartels and others to manufacture fentanyl, a synthetic opioid that accounts for about 70 per cent of all drug overdoses in the US. “Representatives of China told me that they would institute their maximum penalty, that of death, for any drug dealers caught doing this but, unfortunately, they never followed through, and drugs are pouring into our Country, mostly through Mexico, at levels never seen before,” Trump said. Get a note directly from our foreign correspondents on what’s making headlines around the world. Sign up for the weekly What in the World newsletter here .
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Barcelona midfielder Alexia Putellas scored her 200th goal for the Catalan club in Thursday's Champions League win over Austrian side St. Pölten . Putellas struck a left-footed finish into corner of the net to put Barcelona 4-0 up in the 57th minute and well on course for three consecutive victories in Europe after opening with a surprise defeat to Manchester City in October. Barcelona went onto win 4-1. The goal continues Putellas' impressive start to the season as the two-time Ballon d'Or winner shows signs of returning to her best following an ACL injury which sidelined her for the majority of the 2022-23 season. She returned to full fitness last year but was in and out of the side, starting the Champions League final win over Lyon on the bench, although she did come on to score the game-clinching goal. New Barça coach Pere Romeu has returned her to the starting lineup on a regular basis this term, though, and she has responded with 10 goals and five assists in all competitions. "When I started at the club, I never imagined I could reach 200 goals," Putellas told Diario Sport . "It's a figure we usually see more with strikers." Putellas has been the top scorer in the history of Barça's women's team since moving past Jenni Hermoso 's mark of 181 last season. The top five is completed by Sonia Bermúdez (123), Asisat Oshoala (117) and Mariona Caldentey (115). Her 199th goal, scored against Real Madrid earlier in November, moved her past Luis Suárez 's 198 goals and into the top three in the history of both the men's and the women's teams, too, behind only Lionel Messi (672) and César Rodríguez (232). Putellas joined Barça for a second time in 2012, having previously spent a year at the club's academy, and scored her first goal for the club in the same year. The 30-year-old has since gone on to make over 400 appearances for the first team, winning eight league titles and three Champions Leagues, among other trophies, and been named the best player in the world on two occasions.HAMBURG, Germany, Dec. 13, 2024 (GLOBE NEWSWIRE) -- XCHG Limited (“XCharge” or the “Company”), (NASDAQ: XCH), a global leader in integrated EV charging solutions, today announced its unaudited financial results for the three months ended June 30, 2024. Operational Highlights Q2 2024 DC fast charger deliveries were 438, representing a decrease of 31.8% from 642 in the corresponding period of 2023. Q2 2024 Total EV charger deliveries were 619, representing a decrease of 5.4% from 654 in the corresponding period of 2023. DC fast charger deliveries in the first six months of 2024 were 764, representing a decrease of 30.0% from 1,092 in the corresponding period of 2023. Total EV charger deliveries in the first six months of 2024 were 1,155, representing an increase of 2.1% from 1,131 in the corresponding period of 2023. Management Remarks Mr. Yifei Hou, Chief Executive Officer of XCharge, commented, “We are pleased to achieve a resilient operating performance in the second quarter of 2024 despite the challenging macroeconomic environment. In this quarter, as we strove to meet customer demands and strengthen our leading position in the global industry, we delivered 26 Net Zero Series (“NZS”) chargers, representing substantial growth from the prior year, which brought our total NZS charger deliveries up to 51 for the first half of 2024. As a pioneer in the EV charger market, we are committed to enhancing our cutting-edge technologies and developing creative solutions to tackle energy problems, innovatively meeting our clients’ needs. Looking ahead, we will continue to invest in research and development, creating new commercialization opportunities and building a global green future.” Initial Public Offering (“IPO”) In September, the Company successfully completed its initial public offering of 3,462,223 American depositary shares ("ADSs") at a price of US$6.20 per ADS, including 128,888 ADSs that the underwriter partially exercised over-allotment options. Each ADS represents 40 Class A ordinary shares. The total offering size was approximately US$21.5 million before deducting the underwriting discounts and commissions and relevant expenses, with net proceeds of US$19.1 million. Financial Highlights for the Second Quarter of 2024 (in USD millions, except for per ordinary share data and percentage) __________________________________________ 1 Except for gross margin, where absolute change instead of percentage change is presented. 2 See “Use of Non-GAAP Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” included in this release for further details. Revenues were US$9.0 million for the second quarter of 2024, representing a decrease of 26.3% from US$12.2 million for the same period of 2023. Product revenues were US$8.9 million for the second quarter of 2024, representing a decrease of 26.7% from US$12.1 million for the same period of 2023. The year-over-year decrease was mainly due to the decrease in deliveries to a major customer in Europe. Service revenues were US$0.1 million for the second quarter of 2024, representing an increase of 50% from US$0.1 million for the same period of 2023. The year-over-year increase was mainly due to the increase in maintenance services revenue. Cost of revenues was US$4.8 million for the second quarter of 2024, representing a decrease of 28.2% from US$6.7 million for the same period of 2023. The year-over-year decrease was mainly due to the decrease in revenue. Gross margin was 46.1% for the second quarter of 2024, compared with 44.7% for the same period of 2023. The year-over-year increase was mainly due to our enhanced cost control measures. Selling and marketing expenses were US$2.3 million for the second quarter of 2024, representing an increase of 74.2% from US$1.3 million for the same period of 2023.The year-over-year increase was mainly due to increases in staff costs, sales commissions and advertising expenses for business expansion. Research and development expenses were US$1.2 million for the second quarter of 2024, representing an increase of 18.7% from US$1.0 million for the same period of 2023. The year-over-year increase was mainly due to the increase in staff costs for researching and developing new products. General and administrative expenses were US$1.6 million for the second quarter of 2024, representing an increase of 47.4% from US$1.1 million for the same period of 2023. The year-over-year increase was mainly due to increases in staff costs, tax expenses and professional service expenses. Operating (loss)/income was US$(0.9) million for the second quarter of 2024, compared with US$2.1 million for the same period of 2023. Net (loss)/income was US$(1.0) million for the second quarter of 2024, compared with US$2.0 million for the same period of 2023. Excluding changes in fair value of financial instruments and gain on extinguishment of convertible debt, adjusted net income (loss) was US$(0.9) million for the second quarter of 2024, compared with US$2.0 million for the same period of 2023. Net (loss)/income attributable to ordinary shareholders was US$(1.3) million for the second quarter of 2024, compared with US$0.5 million for the same period of 2023. Basic and diluted (loss) /e arnings per ordinary share was US$(0.002) for the second quarter of 2024, compared with US$0.001 for the same period of 2023. Cash and cash equivalents were US$24.3 million as of June 30, 2024, compared with US$12.8 million as of March 31, 2024. About XCharge XCharge, founded in 2015, is a global leader in integrated EV charging solutions. The Company offers comprehensive EV charging solutions which primarily include the DC fast chargers, the advanced battery-integrated DC fast chargers, as well as its accompanying services. Through the combination of XCharge’s proprietary charging technology, energy storage system technology, and accompanying services, the Company enhances EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, XCharge is actively working towards establishing a global green future that is critical to long-term growth and development. For more information, please visit: https://investors.xcharge.com/ Use of Non-GAAP Financial Measures We consider adjusted net income (loss), a non-GAAP financial measure as a supplemental measure to review and assess our operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We present this non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of this non-GAAP measure facilitates investors’ assessment of our operating performance. This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using this non-GAAP financial measure is that it does not reflect all items of income and expense that affect our operations. Further, this non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. We compensate for these limitations by reconciling this non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. We define adjusted net income (loss) as net income (loss) excluding changes in fair value of financial instruments and gain on extinguishment of convertible debt. For more information on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release. Exchange Rate Information This announcement contains translations of certain EUR amounts into U.S. dollars and RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from EUR to U.S. dollars, from U.S. dollars to EUR, from RMB to U.S. dollars and from U.S. dollars to RMB are made at EUR1.0711 to US$1.00 and RMB7.2672 to US$1.00, the exchange rates on June 28, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that any amounts that could have been, or could be, converted into another currency, as the case may be, at any particular rate or at all. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. For investor and media inquiries, please contact: XCharge IR Department Email: ir@xcharge.com Piacente Financial Communications Brandi Piacente Tel: +1-212-481-2050 Jenny Cai Tel: +86 (10) 6508-0677 Email: XCharge@tpg-ir.com Source: XCHG LimitedNoneKay Patterson, who rose from janitor at segregated South Carolina capitol to state senator, dies
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