WASHINGTON, Oct. 15, 2024 (GLOBE NEWSWIRE) — CleanChoice Energy (“CleanChoice”), the first company in the U.S. that both owns solar generation assets and supplies only 100% clean energy to consumers, announced the acquisition of its second fully owned and operated solar project. Located in Kylertown, Penn., the solar project will have the capacity to supply over 5,100 homes with renewable energy. This news comes one year after the company announced the development of its first solar project, which is nearing completion in Blairs Valley, Penn., and will generate enough energy to power the equivalent of 4,500 homes.
Construction of the 150-acre Kylertown solar project is expected to begin in Q4 2024, with a planned interconnection date of October 2025. It will have a capacity of 29.42 MW. When completed, the solar farm will interconnect to the PJM electric grid, which supplies energy to utilities in Pennsylvania, New Jersey and regions throughout other surrounding states.
“Our project in Kylertown will double CleanChoice Energy’s solar generation assets, as well as demonstrate how responsible renewable energy generation can support the local community and wildlife,” said Zoë Gamble, President of CleanChoice. “This is part of our long-term strategy to support the growth of 100% green energy in the U.S. and make it more accessible to people – a solution that is critically needed as we all face the dire consequences of climate change.”
CleanChoice is acquiring the project from Prospect14, which led the siting and greenfield development. “This project is an excellent example of the positive benefits that solar energy brings to Pennsylvania’s local communities, energy consumers, and landowners,” says Carl Jackson, Partner of Prospect14. “We are thrilled that this solar project will be carried forward by a partner who operates at high standards and takes care of the land and community.”
The Kylertown solar project is the second in a number of projects in the pipeline for CleanChoice as owner-operator. CleanChoice continues to develop greenfield sites and pursue acquisition of large-scale solar projects across the Northeast and Mid-Atlantic regions.
ABOUT CLEANCHOICE ENERGY CleanChoice Energy is one of the leading 100% renewable energy suppliers in the U.S., building solar farms and providing consumers with alternative ways to access clean energy. CleanChoice is defining farm-to-table clean energy, making it easy for people to live cleaner lives with pollution-free, renewable energy for their homes and businesses. With CleanChoice, every kilowatt of electricity used is replenished onto the grid with 100% clean energy from regional wind and solar projects. Founded in 2012, CleanChoice has become one of the fastest-growing businesses in America, as ranked on the Inc 5000 and Deloitte’s Technology Fast 500™. CleanChoice Energy is majority-owned by Funds managed by True Green Capital Management LLC. For more information or to become a clean energy customer, visitCleanChoiceEnergy.com.
ABOUT PROSPECT14 Founded in 2017 and headquartered in Ardmore, Pennsylvania, Prospect14 focuses on the scaled origination and development of distributed solar energy projects in multiple markets in the United States. Since its inception, Prospect14 has originated more than 6.5 GWdc of solar and solar + storage projects. For more information, please visithttp://www.prospect14.com.
Source: Africa Press Organisation – English (2) – Report:
MUSCAT, Oman, October 15, 2024/APO Group/ —
Reinforcing its position as one of Oman’s most dynamic Islamic Wholesale Banking institutions, Alizz Islamic Bank has recently signed an agreement with the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org). This partnership is set to provide Shari’a compliant financing solutions, further enhancing the bank’s commitment to offering innovative and ethical financial services in alignment with Islamic principles.
The agreement was officially signed by Mr. Ali Al Mani, CEO of Alizz Islamic Bank and Eng. Hani Salem Sonbol, CEO of ITFC in the presence of a number of senior officials from both organisations.
Speaking about the agreement, Mr. Ali Al Mani, CEO of Alizz Islamic Bank said: “We are delighted to be the first bank in Oman to partner with the ITFC. Partnering with innovative and leading organisations in their respective fields is an important part of our strategy and we are proud to be pioneers in providing innovative trade financing solutions. Our customers are at the forefront of everything we do and aligning with strategic partners enables Alizz Islamic Bank to enhance our trade solutions and correspondent network which in turn can enable us to offer competitive working capital financing pricing.”
Commenting on the agreement, Eng. Hani Salem Sonbol, CEO of ITFC , and Acting CEO of ICD stated “We are pleased with our partnership and strategic relationship with Alizz Islamic Bank. This is our first collaboration in Oman and is poised to play a pivotal role in advancing Shari’ah compliant financial services in the country. Through this agreement, we aim to strengthen the private sector role in the economy, particularly by enhancing access to finance for small and medium-sized enterprises (SMEs). Supporting SMEs is a core pillar of the ITFC mission, and we are confident that this partnership will help drive economic growth, create job opportunities, and foster sustainable development in Oman”.
Source: Republic of France in English The Republic of France has issued the following statement:
Public-private stakeholder coalition kicks-off joint work to scale up private SDG investment in emerging markets and developing economies: At the Hamburg Sustainability Conference, a coalition of private and public institutions announced to join forces to set up the Hamburg Sustainability Platform. This platform aims at scaling sustainable investments into emerging markets and developing economies through standardization.
The Sustainable Development Goals (SDGs), as well as the climate and biodiversity goals, cannot be achieved with public funds alone. More private investment is urgently needed, especially in emerging markets and development economies. To close this financing gap, it must become easier for private investors to invest. Blended finance provides efficient mechanisms to address this challenge. This is the aim of an alliance of public and private stakeholders, the Hamburg Sustainability Platform (HSP), announced at the Hamburg Sustainability Conference.
The German Ministry of Economic Cooperation and Development, (BMZ); the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO); Global Affairs Canada; the Danish Ministry of Foreign Affairs; Treasury of the Republic of South Africa; the Secretary of State in charge of International partnerships of France; the German Development Bank KfW; British International Investment (BII); as well as Allianz and Caisse de dépôt et placement du Québec (CDPQ) are partnering to jointly develop the Hamburg Sustainability Platform. The Organisation for Economic Co-operation and Development (OECD) acts as an advisory body to the platform.
Sustainable investments in emerging markets and developing economies have so far been for the pioneers in the private sector: while promising investment opportunities exist, large institutional investors such as pension funds or insurance companies rarely invest at scale. This is because implementation takes a long time, as preparations can take several years and financial products are often very complex. To make it easier for private investors to invest at scale, it would be necessary to pool the funds of public donors and standardize financial vehicles.
As a solution, the HSP aims at better combining public and private investments through standardized financial products as well as harmonized public strategies. The initiative thereby aims to enhance simplicity, replicability and efficiency, thus enabling considerable additional investment volume.
Standardization is a key enabler of operational efficiency. By delivering simplicity, efficiency and speed, volume becomes possible. Standardization acts like a common language, combatting fragmentation and accelerating procedures. It could therefore be an important step to help scaling private investment. This is recognized and demanded by different institutions and initiatives such as the UN-convened Net-Zero Asset Owner Alliance (NZAOA), the OECD, as well as the B20 Finance & Infrastructure Working Group. Nevertheless, standardization is currently lacking in blended finance.
The HSP was announced at the inaugural Hamburg Sustainability Conference, held on 7-8 October. Under the motto “together we co-create development”, the Hamburg Sustainability Conference challenges barriers to SDG implementation. It establishes a new global forum to speed up progress towards achieving the SDGs and deliver result-oriented solutions. The annual conference is a joint initiative of the United Nations (UNDP), the German Federal Ministry of Economic Cooperation and Development (BMZ), the Michael Otto Foundation and the City of Hamburg.
On their motivations for the HSP, the founding members have said:
Anneliese Dodds, Minister for Development and Minister for Women and Equalities, United Kingdom’s Foreign, Commonwealth & Development Office: “Meeting the Sustainable Development Goals will require trillions of dollars of additional public and private investment into emerging markets and developing economies. To get private capital moving quickly and at scale, investors need to be able to compare options and make decisions with confidence. That’s why the UK is pleased to support the Hamburg Sustainability Platform, which will focus on scaling up sustainable investment into the regions that need it most, by providing standardized investment products in a clear and simple format.”
Jochen Flasbarth, State Secretary of the German Federal Ministry of Economic Cooperation and Development: ”The SDGs represent an unprecedented global consensus and as such, a joint mission of public and private stakeholders. We need to join forces to make this mission heard. Over the past years, numerous good examples of blended finance vehicles have been set up. It is now time to identify those success cases, standardize, and scale them. This is what the Hamburg Sustainability Platform stands for. It is a great example of how the German government enhances international partnerships and how development cooperation efficiently uses market mechanisms to co-create impact. “
Thani Mohamed Soilihi, French Secretary of State for Francophonie and international partnerships: “We need to boost financing capacities if we collectively want to achieve United Nations Sustainable Development Goals (SDGs), and this requires far more private sector leveraging. This is a priority for France, that we are pursuing with 66 partners through the Paris Pact for People and Planet. In that perspective, the Hamburg Sustainability Platform plays an important role and we hope it will bolster current efforts to scale sustainable investments and deliver tangible results.”
Lina Gandløse Hansen, State Secretary for Trade and Investments, Ministry of Foreign Affairs, Denmark: “We need to bridge the financing gap to deliver on the SDGs and the Paris agreement. The numbers tell a clear story: We are far off track. We need all hands on deck and the private sector must play a key role. We need to deliver scale and replicable models. The Hamburg Sustainability Platform can play an important role. Denmark is looking forward to bringing our strong focus on innovative financing to the table and explore synergies, not least with the work in the Investment Mobilization Collaboration Alliance (IMCA) which aims at mobilizing billions of USD in private capital in support of climate action.”
Mmakgoshi Lekhethe, Head of Asset and Liability Management at the National Treasury of the Republic of South Africa: “We need impactful solutions and investments on a global scale. And for investments to be impactful, private and public sector need to work together. Development efforts can only be sustainable in the long run if we succeed in mobilizing private markets for our goals. The Hamburg Sustainability Platform can become a key lever on this mission.”
Patricia Peña, Associate Assistant Deputy Minister, Global Affairs Canada: “Setting up the Hamburg Sustainability Platform involves learning from and working with existing solutions, ensuring what we put forward and how we work together adds value and avoids duplication. Recognising the need to cooperate more efficiently with other donors and private investors from an early stage, the Hamburg Sustainability Platform could become a key tool to enhance donor cooperation and address existing challenges in blended finance.”
Claus Stickler, Global Co-Lead at Allianz Investment Management: “Speed and scalability are key success factors in achieving sustainable change globally, including for example accelerating the deployment of renewable energy in emerging markets. The Hamburg Sustainability Platform can help simplify the creation and management of blended finance vehicles, thereby increasing their investability. Let’s work together to create this important platform for real action.”
Vito Dellerba, Managing Director, Sustainable Investing at CDPQ: “Templates and standardized frameworks for financial returns and impact – initiatives highlighted by the Hamburg Sustainability Platform – facilitate timely and knowledgeable decisions by providing streamlined and consistent information. In addition, it has the potential to boost market efficiency by enhancing risk management practices, lowering transaction costs and increasing liquidity.“
OECD Deputy Secretary-General Mary Beth Goodman: “The OECD supports the Hamburg Sustainability Platform in an advisory role. Promoting innovative approaches to scaling up private capital mobilization in Emerging Market and Developing Economies is core to the work of the OECD. As a convener, we will be a partner in driving this initiative forward. Based on the OECD’s work in harmonising blended finance approaches, and with standardization featuring prominently in the current update of the Blended Finance Principles Guidance, the OECD can be a key contributor of this initiative.”
Christiane Laibach, Member of the Executive Board of KfW: “We have all learnt valuable lessons from the past twenty years of blended finance and impact investment. But to reach scale, we need to join forces, agree on common models based on these lessons and roll them out in a predictable and standardized manner. This is the objective of the Hamburg Sustainability Platform.”
Liz Lloyd, Chief Investment Officer at BII: “Unlocking private capital is critical to meet the twin challenges of development and the climate emergency. One important way to do that is through innovative blended finance, using concessional public finance to encourage private investment to achieve the SDGs. We are pleased to collaborate with others to reach a common approach to blended finance, to help mobilize private capital into sustainable investments at scale.“
Biden-Harris Administration Issues Final Rule Requiring Replacement of Lead Pipes Within 10 Years, Announces $44M in Funding to New Jersey to Provide Clean Water to Schools and Homes
The Biden-Harris Administration issued a final rule requiring drinking water systems across the country to identify and replace lead pipes within 10 years. The Lead and Copper Rule Improvements (LCRI) also require more rigorous testing of drinking water and a lower threshold for communities to take action on lead in drinking water to protect people from lead exposure. In addition, the final rule improves communication within communities so that families are better informed about the risk of lead in drinking water, the location of lead pipes, and plans for replacing them. This final rule is part of the President’s commitment to replace every lead pipe in the country within a decade, making sure that all communities can turn on the tap and drink clean water.
Alongside the Lead and Copper Rule Improvements, the EPA announced $44,199,000 in newly available drinking water infrastructure funding for New Jersey through the Bipartisan Infrastructure Law. This funding will flow through the drinking water state revolving funds (DWSRFs) and is available to support lead pipe replacement and inventory projects. Additionally, 49% of the funding must be provided to disadvantaged communities as grant funding or principal forgiveness that does not have to be repaid. The EPA also announced the availability of $35 million in competitive grant funding for reducing lead in drinking water. Communities are invited to apply directly for grant funding through this program. Additional federal funding is available to support lead pipe replacement projects and EPA has developed a website identifying available funding sources.
“We are grateful to the Biden-Harris Administration, New Jersey’s congressional delegation, and the Environmental Protection Agency for their continued support in helping us build a cleaner and healthier Garden State through the Bipartisan Infrastructure Law,” said Governor Murphy. “This newly announced funding will help New Jersey communities with the vital task of replacing all lead pipes within the next ten years as we work to ensure that everyone in New Jersey has access to clean, safe drinking water. These critical investments in our drinking water infrastructure will help protect our children from lead exposure, create good-paying jobs for New Jerseyans, and ensure a stronger drinking water system for generations to come.”
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First Lady Tammy Murphy Hosts 21st Successful Family Festival in Vineland
First Lady Tammy Murphy hosted her 21st Nurture NJ Family Festival in Vineland on Saturday, October 5, creating a one-stop-shop for 1,500 attendees to access crucial resources to aid them in growing their families and raising children in the Garden State. The event connected families with information on accessing state, county and local resources spanning from health and child care to housing support and food assistance, among many more supports to help new parents.
“Our Family Festivals have proven to be a powerful tool in connecting New Jerseyans with the resources necessary to help support their growing families,” said First Lady Tammy Murphy. “We know that raising children comes with a whole host of challenges and rewards, and we are committed to being there every step of the way through our innovative initiatives to uplift mothers and babies. In a rural county like Cumberland, accessing care can be burdensome. That’s why I am thankful to our dedicated partners for helping to make today a success and for their constant partnership as we all work to make Cumberland County – and all of New Jersey – the safest and most equitable place in the nation to have a baby and raise a family.”
Vineland has a 43 percent Hispanic and Latino population. New Jersey’s Maternal Mortality Report for the years 2016-2018 showed that Hispanic mothers were three and a half times more likely to die of maternity-related complications than white mothers. According to data from the Centers for Disease Control and Prevention, the mortality rate for Hispanic babies is nearly one and a half times that of white babies. Among all demographics, Cumberland County has the highest infant mortality rate and teen pregnancy rate in the state.
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New Jersey Army National Guard Prepares for Hurricane Milton Support to Florida Division of Emergency Management
The New Jersey Army National Guard announced the deployment of approximately 80 Soldiers and 30 military vehicles to support Hurricane Milton response operations in Camp Blanding, Florida. A convoy from the 143d Transportation Company and 253d Transportation Company, 42d Regional Support Group arrived in Florida following the landfall of Hurricane Milton.
“Our thoughts and prayers are with the people of Florida as a second massive storm in as many weeks bears down on our nation’s Gulf Coast,” said Governor Phil Murphy. “New Jersey is committed to doing everything possible to assist Floridians impacted by Hurricane Milton—including sending a convoy to support the Florida Division of Emergency Management.”
Upon arrival to Camp Blanding, the unit coordinated with the Florida Division of Emergency Management and the Florida National Guard. Tasks include transportation of Florida National Guard personnel into weather-impacted areas and delivery of commodities to or from points of distribution.
“Floridians are family, and we know from personal experience what hurricane recovery means for our communities,” said Colonel Yvonne L. Mays, Acting Adjutant General of New Jersey. “Our Soldiers are trained and ready to support our neighbors in need.”
New Jersey responded to Florida’s request for support through the Emergency Management Assistance Compact (EMAC), the nation’s state-to-state mutual aid agreement. EMAC matches personnel, equipment, and commodities to assist response and recovery efforts across all 50 states, the District of Columbia, and four territories.
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AG Platkin Sues TikTok for Unlawful Practices That Harm NJ Youth
Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced that after a multiyear investigation, they are suing social media giant TikTok for deceptive, unconscionable, and abusive business practices that harm the health and safety of New Jersey’s youth.
The complaint, which was filed temporarily under seal in the Superior Court of New Jersey, Chancery Division, Essex County, alleges multiple violations of the New Jersey Consumer Fraud Act (CFA). Other Attorneys General are filing similar lawsuits across the country.
“Our investigation shows that TikTok knows about the dangerous effects of its platform on young users, and can mitigate these harms, but has deliberately chosen not to do so,” said Attorney General Platkin. “As a parent and as the chief law enforcement officer for New Jersey, I’m here to tell TikTok, as I have told other social media companies in the past, that our kids are more than just data points to be monetized to advertisers to the detriment of their mental and physical health.”
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New Jersey’s Minimum Wage to Increase to $15.49/Hour for Most Employees on Jan. 1
New Jersey’s statewide minimum wage will increase by $0.36 to $15.49 per hour for most employees, effective January 1, 2025.
Pursuant to Article 1, Paragraph 23, of the New Jersey Constitution, and N.J.A.C. 12: 56-3.1(c), the New Jersey Department of Labor and Workforce Development (NJDOL) sets the minimum wage for the coming year based on any increase in Consumer Price Index (CPI) data provided by the U.S. Bureau of Labor Statistics.
“Aligning the state minimum wage with any increases in the cost of living is a critical step towards economic fairness and security for all New Jersey workers,” said Labor Commissioner Robert Asaro-Angelo. “This adjustment fosters a more equitable economy and ensures our workforce can continue to thrive.”
MILES AXLE Translation. Region: Russian Federation –
Source: Mainfin Bank –
What was the dispute between the bank and the borrower that was being considered by the court?
The decision on the inadmissibility of imposing services was made by the Supreme Court in the context of a civil dispute between a bank and a resident of the Sverdlovsk region. The citizen had previously taken out a loan, but the bank imposed insurance on him and refused to terminate the contract during the “cooling-off period”. The borrower managed to restore his rights with the help of the financial ombudsman – the bank did not agree with this decision and went to court.
The Supreme Court found that the bank had violated the requirements of the law by including a clause in the terms of the loan agreement requiring the borrower to purchase an insurance policy from a specific company. At the same time, the client did not check the box about consent to connect the protection, although he agreed to the proposed terms of the loan. The highest court overturned the decisions of the lower courts and sent the case back for a retrial on the merits.
What restrictions apply to creditors when connecting additional services?
The Supreme Court’s decision on the dispute that arose imposes a number of restrictions on banks when provided to borrowers credits and connecting them to additional services. Thus, the court recalled that:
the bank’s duty is to provide the client with a choice: to agree or refuse imposed services; the lender does not have the right to put notes on consent or include clauses in the terms that provide for the mandatory connection of additional services; it is prohibited to create conditions within which the borrower’s unambiguous consent to the purchase of individual services is assumed.
“A bank that fails to comply with these requirements violates the rights of the borrower and the norms of the law, since the imposition of insurance and other services is unacceptable,” the Supreme Court panel noted.
Thus, the court prohibited banks from including in loan agreements the obligation to purchase insurance – the borrower must independently agree to take out the protection.
15:50 10/15/2024
Source:
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
The blue blood of threatened horseshoe crabs contains a chemical essential for testing the safety of vaccines. So these ancient creatures are highly sought after by pharmaceutical companies worldwide, contributing to declines in their populations.
Advances in technology now allow the rapid sequencing and sharing of genetic data, bringing huge benefits (and profits) for biotechnology and medicine. However, it also opens the door to “biopiracy”: the unethical or unlawful appropriation of biological resources, typically from countries or Indigenous communities in developing countries.
Even if genetic information is obtained and used appropriately and within the law, important ethical, legal and financial questions still arise: who owns the genetic data derived from nature, and how can we ensure fair sharing of the benefits derived from their use?
A key debate at Cop16, the upcoming UN biodiversity conference, will be how best to channel funding into protecting valuable biological resources. If done properly, people can benefit from the genetic information that nature contains, while ensuring that those conserving these resources, particularly Indigenous people, are properly compensated financially for their efforts.
Our recent paper argues that rules of fair allocation, which have been around since the time of Aristotle, offer a potential way forward.
Genetic information extracted from living organisms can now be easily digitised and shared across borders. This practice, often referred to as digital sequence information (DSI), plays a pivotal role in advancing research in fields such as medicine, agriculture and environmental science.
For example, the genome of the COVID-19 virus was digitally sequenced and shared globally, enabling researchers worldwide to use that DSI to develop vaccines quickly.
Yet, this leads to ethical and legal challenges. The genetic codes of plants and animals from all over the world are stored in international databases, often without proper acknowledgement or compensation to the countries or communities where these sequences originated.
Countries with rich biodiversity, particularly in developing countries, have raised concerns that their genetic resources are being used – and in some cases monetised and commercialised – without approval or fair compensation. Indigenous peoples and local communities have similar concerns.
So, who owns genetic data? It depends.
The ownership of genetic data derived from plants and animals has become a grey area. In theory, countries have sovereignty over their biodiversity, as stipulated in an international agreement adopted in 2010 called the Nagoya protocol. This mandates that countries sharing their biological resources should be compensated through access and benefit-sharing agreements.
Genetic codes of rare plants aren’t currently owned by their country of origin. Polonio Video/Shutterstock
However, the concept of DSI has complicated these agreements. When genetic data is transformed into a digital format and stored in databases, it is not always clear whether the original country still holds any rights over that data.
Should the digital sequence information of a rare Amazonian plant, for example, belong to the country where it was found, or is it now part of a global commons available to any researcher or commercial entity? Currently, there is no universal agreement on DSI, and with companies and research institutions using genetic data freely, this opens the door to the next wave of biopiracy
Biopiracy has been a historical problem, long before digital data entered the picture. For decades, pharmaceutical and agricultural companies have sourced plant and animal materials from the Amazon rainforest or African savannas. They patented products based on those materials and profited without compensating source countries or Indigenous peoples and local communities who may have used these species for generations.
Now this issue extends beyond physical specimens. The real treasure lies in the genetic information itself. When genetic data is digitised and shared globally, it becomes challenging to trace its origins and hold companies accountable for unauthorised use.
In the absence of benefit-sharing mechanisms (formal ways to share the monetary and non-monetary benefits of using biodiversity with those who bear the costs of conserving it), companies can patent discoveries derived from DSI, with profits flowing to corporations and research institutions in developed countries.
Meanwhile, low-to-middle-income nations that are home to these resources and the communities that protect them do not benefit. We argue this is unjust and contributes towards the continued undervaluation and therefore degradation of biodiversity.
A new genetic code
At Cop16, a potential solution is up for a negotiation: a global system governing the exchange of DSI, including a multilateral fund into which companies which benefit from DSI would contribute.
This fund would be used to pay for action to conserve biodiversity, with a specific priority given to funding for Indigenous peoples and local communities, women and youth. As well as providing compensation for stewardship of the biodiverse ecosystems that contain these genetic resources, funding can be used for training and capacity-building (such as genetic research), which could start to compensate for longstanding inequalities of opportunity that are built into today’s research and commercialisation systems.
Many questions remain as to how this fund would work. That will be negotiated at Cop16. One particular challenge is determining how to implement mechanisms to distribute this fund that are fair, enforceable, and do not overburden countries or companies.
Proposed solutions are grounded in rules of fair allocation. Pharmaceutical companies using DSI could contribute in proportion to their profits or revenues. Beneficiaries could receive payment or other benefits according to criteria such as the levels of biodiversity conserved, threats to biodiversity and financial need.
This multilateral fund could be a major contributor to conservation finance, and one which is directed at those who actually conserve biodiversity on the ground. It has been described as a potentially “historic breakthrough” by the executive secretary of the convention on biological diversity.
But there are still major hurdles to overcome. Big pharma companies are resistant due to the potential financial implications. There has been limited engagement from the conservation community, perhaps because fair sharing of the benefits from genetic materials appears much less immediately pressing than the conservation of wild species and their habitats.
If successful, this could represent a major step towards generating the finance that is desperately needed to support nature conservation. It would set a precedent for similar mechanisms to ensure that those benefiting from using nature pay for the cost of conserving or restoring it – just like bycatch taxes in commercial fisheries or pollution taxes on large agribusinesses.
We believe that this proposal could be revolutionary if it succeeds in channelling large amounts of biodiversity finance to where it is most needed in a fair and equitable way. Genetic data should not only be seen as a resource that generates new drugs and technologies, but as a shared asset of humanity, with the rights and sovereignty of nature’s stewards properly respected and valued.
Don’t have time to read about climate change as much as you’d like?
Eleanor Jane Milner-Gulland receives funding from UKRI, Research England Development Fund, Login5 Foundation, IKI, Defra, USFWS, Leverhulme Trust and the Leventis Foundation. She is a member of the UK government’s Defra Biodiversity Evidence Committee, chairs the Darwin Expert Committee, a member of IUCN-SSC, and the Nature Positive Initiative.
Dale Squires was supported by an Oxford Martin School Visiting Fellowship.
Hollie Booth receives funding from the UK Darwin Initiative. As well as University of Oxford she is affiliated with The Biodiversity Consultancy and Kebersamaan Untuk Lautan.
Source: US Department of Health and Human Services – 3
This recall involves removing certain devices from where they are used or sold.The FDA has identified this recall as the most serious type. This device may cause serious injury or death if you continue to use it.
Affected Product
Pump Model
Unique Device Identifier (UDI-DI)
Software Revision
Z-800
00814371020006
6.1.01 and 6.1.07z
Z-800W
00814371020020
3.1.32 and 3.1.64z
Z-800F
00814371020013
4.1.02 and 4.1.08z
Z-800WF
00814371020037
5.1.01 and 5.1.08z
What to Do
Do not use affected infusion pumps.
On September 13, 2024, Zyno Medical LLC sent all affected customers an Urgent Medical Device Correction letter recommending the following actions:
Stop using affected devices.
Follow instructions to return these devices for software update.
Complete the Zyno Medical Z-800, Z-800F, Z-800W, and Z-800WF Infusion Pump – Air-in-Line Software Issue – Response Verification Form which includes the following activities:
Checking inventory for affected products.
Verifying serial numbers.
Confirming product location.
Reporting any transferred product.
Signing and dating the completed form.
Make sure this notice reaches everyone who needs to be informed, including those at other locations if the devices have been transferred.
A representative from Zyno Medical’s partner company, Intuvie LLC, will contact customers to coordinate instructions for exchanging devices.
Reason for Recall
Zyno Medical is recalling certain Zyno Medical Z-800, Z-800F, Z-800W, and Z-800WF infusion pumps due to a defect in the air-in-line software algorithm that may allow a 1.0 mL air bubble to be passed on to a patient.
The use of affected product may cause serious adverse health consequences, including air entering the blood vessels (vascular air embolism), fast and irregular heartbeat (tachyarrhythmia), heart attack (myocardial infarction), stroke, seizure, and death.
There have been two reported injuries. There have been no reports of death.
Device Use
Zyno Medical Z800 Infusion Systems are intended to provide infusion through the blood vessels (intravenous) of nutrition or essential (parenteral) fluids, blood, and blood products under the direction or supervision of a health care professional.
Contact Information
Customers in the U.S. with questions about this recall should contact their Zyno Medical local business partner or email feedback@intuvie.com.
Additional FDA Resources (listed in order of most to least recent):
Unique Device Identifier (UDI)
The unique device identifier (UDI) helps identify individual medical devices sold in the United States from manufacturing through distribution to patient use. The UDI allows for more accurate reporting, reviewing, and analyzing of adverse event reports so that devices can be identified, and problems potentially corrected more quickly.
How do I report a problem?
Health care professionals and consumers may report adverse reactions or quality problems they experienced using these devices to MedWatch: The FDA Safety Information and Adverse Event Reporting Program.
We’ve all found ourselves trying to avoid the swarms of midges that are so common in late summer. But as you try to avoid them, what you may not know is that they are equally keen to avoid each other.
It’s strange behaviour for creatures that typically move around together. But physicist Andrew Reynolds from research centre Rothamsted Research recently investigated swarms of the non-biting midge Chironomus riparius, and found something very strange happening.
While they may move around in swarms, they do so in a way that ensures they keep their distance from each other. And it might be why, paradoxically, they are so successful at breeding.
Swarming, where animals form large and dense groups, is common in a lot of animals. A lot of us are familiar with the murmuration of starlings at sunset as they dance in the setting sun, for example. In water, animals form shoals, pods and schools. They may vary in their cohesiveness and the species that they contain, but are all essentially different types of swarms.
It helps animals evade predators and gives them safety in numbers. Large numbers of animals in these aggregations make it difficult for predators to single out a target. This is known as the selfish herd effect where animals seek positions towards the centre of a herd, shoal or flock where there’s less risk of being attacked.
Animals sometimes behave differently as part of a bigger system where the animal is interacting with it’s nearest neighbour. Fish for example align themselves and match speed with their nearest neighbour to shoal together and avoid collisions. Birds operate in a similar way.
Social insects such as ants often swarm in the summer, in mate-finding nuptial flights. Locusts defoliate large patches of land before moving on. Some researchers suggest that this social aggregation behaviour is linked to elevated serotonin the locusts get from close contact.
However, in the midge C. riparius we see something different.
Reynold’s research showed that these midges maintain maximum distance from one another. In the lab based models of these midges he studied, the midges are almost, by equal measure attracted to the centre of a swarm, but also away from each other.
Birds in a flock move in the same direction, staying close to one another (positive correlation). But C. riparius midges position themselves apart, so if one moves left, others tend to move right for example (maximal anticorrelation).
The swarms of C. riparus are predominantly for reproductive purposes and they are made up of males. Midges maximise their potential to find a mate by collecting at the same time, in the same place. You could argue that’s how bars and pubs work for humans.
When a female enters the swarm however, and is pursued by a male, the swarm maintains cohesion. The other members of the swarm are still drawn towards her. But this force of attraction is weaker than the negative “impulse” for the males to stay away from each other.
Staying evenly spaced means there is less competition between males. Which means that, as a group, they spend less energy and have more overall mating success.
The repellent effect also has other advantages. When midges are spaced apart in an organised and distributed way, the swarm can collectively respond to disruptions, such as changes in weather or predators, without losing its structure. Because each midge’s relative position to each other is defined by the maximal anticorrelation, a disturbance to one part of the swarm can quickly be compensated by the whole group.
We might learn a thing or two from the midge. In social situations, let’s take a step back, wait our turn, and give each other some space. Don’t interrupt your friend in conversation, don’t barge in at the self-service checkouts in the supermarket… and certainly don’t flirt with your friend’s partner.
Alex Dittrich does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: United Kingdom – Executive Government & Departments
Schroders Capital’s Real Estate Impact Fund (SCREIF) has received a £50 million investment from Homes England, the government’s housing and regeneration agency, underlining the key role this market-leading investment strategy has in addressing social inequality in the UK
The investment was today confirmed as part of a package of key measures announced by the UK’s Ministry of Housing, Communities and Local Government (sponsor of Homes England) and HM Treasury, following a roundtable hosted by the Chief Secretary to the Treasury, as part of the UK Government’s programme of activities to support its high-profile International Investment Summit.
The Summit has been focused on driving investment and growth across the UK, with up to 300 industry leaders attending alongside the UK Prime Minister Keir Starmer, Chancellor Rachel Reeves and Business and Trade Secretary Jonathan Reynolds.
SCREIF is a real estate focused strategy with the dual aims of delivering a positive social and environmental impact in addition to securing appropriate risk adjusted returns for investors. Last month, the strategy became only the second real estate fund in the UK to receive approval from the Financial Conduct Authority to use the ‘Sustainability Impact’ label under SDR.
With a residential-led approach, the fund is predominantly focused on addressing the UK’s housing crisis, specifically, the shortage of social and affordable accommodation and the regeneration of town centres. The fund aims to ensure that its investments are made in accessible and resilient locations, with access to green space, public transport, schools and GPs.
The investment from Homes England will increase the ability of the fund to grow and invest more widely across the UK and secure further allocations from pension funds, insurers and foundations.
Chris Santer, Schroders Impact Fund Manager, Schroders Capital’s Real Estate team, said:
This investment by Homes England is a clear indication of the absolutely vital role this fund is looking to play in the UK by delivering real and tangible change. Our homes, and the built environment around us, impact our daily lives. We believe this allocation from the public sector will be catalytic in unlocking further institutional investments, boosting broader confidence and interest in this key sector meaning the fund can enable more communities to thrive across the UK.
Peter Denton, Homes England Chief Executive, said:
This is a brilliant example of how public and private sector organisations can get behind a clear and common aim – namely supporting social justice and thriving communities. Our commitment aims to help spark deep and diverse market investment from a range of institutions. Fundamentally, this is about coming together to accelerate regeneration and the creation of affordable, high-quality homes within sustainable, thriving places that people, especially those in more deprived areas, want, need and deserve.
Schroders Capital provides investors with access to a broad range of private market investment opportunities, portfolio building blocks and customised private market strategies. Its team focuses on delivering best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private market mandates.
The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity.
With $97.3 billion (£77.0 billion; €90.8 billion)* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists).
*Assets under management as at 30 June 2024 (including non-fee earning dry powder and in-house cross holdings)
Schroders plc
Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £773.7 billion (€912.6 billion; $978.1 billion) of assets under management at 30 June 2024. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 6,000 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Schroder family continues to be a significant shareholder, holding approximately 44% of the issued share capital.
Schroders’ success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.
Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.
About Homes England
Homes England is the government’s homes and regeneration agency. It drives the creation of more high-quality homes and thriving places so that everyone has a place to live and thrive. The Agency’s team work in partnership with thousands of public and private bodies including local authorities, home builders, developers, affordable housing providers, commercial real estate companies and financial institutions to make this happen. For more information visit: Homes England – GOV.UK (www.gov.uk)
Issued by Schroder Investment Management Limited. Registration No 1893220 England. Authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at http://www.schroders.com for our alerting service.
Source: The Conversation – UK – By Andrew Dix, Senior Lecturer in American Literature and Film, Loughborough University
The vampire story dwells among the undead of literary and cinematic genres, ever available for reanimation. This year alone has seen the publication of more than 30 vampire novels in the US (from Rachel Harrison’s So Thirsty to K. M. Enright’s Mistress of Lies), alongside the release of several vampire movies, including Abigail (with Nosferatu, rebooting the silent German classic, due at Christmas).
Now comes Salem’s Lot. Written and directed by Gary Dauberman, it’s the first feature-film adaptation of the 1975 novel in which Stephen King set himself the thought experiment of transposing Bram Stoker’s Dracula to contemporary New England. The book has been adapted twice before, in 1979 and 2004, but each time as a TV miniseries.
The new Salem’s Lot begins with a series of maps that trace how the master vampire, concealed in a chest, has reached Maine. The film’s own passage, stalled for years by the calculations of marketers and schedulers, has been equally arduous. It arrives now rather belatedly and without blockbuster flourish. While UK King fans can enjoy it on the big screen, it is consumable in most other locations only via the streaming service Max.
The trailer for Salem’s Lot.
Literary and film scholar Robert Stam offers a profusion of terms to describe the work undertaken by screen adaptations. They may, for example, “rewrite”, “transmute” or even “critique” their source-texts. Indicating a gentler kind of process, however, Stam also allows that an adaptation can offer an “incarnation” or “performance” of the material it is adapting. Performing Salem’s Lot in this sense, responding in audio-visual form to King’s prompts and refusing major reinventions, appears to be Dauberman’s goal.
King is a successor not only to Stoker and other horror writers such as H. P. Lovecraft, but to the late-19th century “local colorists” in New England, who attentively documented the sights and sounds of their region. On the page, Salem’s Lot is visually abundant. The new adaptation attempts to be similarly conscientious.
Dauberman takes care in matters of colour and lighting. A church’s doors, shut against the vampiric menace, glow a vivid red. Two boys walk through a wood silhouetted at sunset, their bodies ominously already lacking substance against a sky that is turning from pink to black. There are other visual pleasures, too, representing a shift away from Hooper’s version, where the shots are rougher-edged and decidedly non-pictorial.
The cast of this Salem’s Lot is likeable and struggles gamely, in the face of regular jump scares, to solicit audience engagement. Unlike Hammer’s Dracula adaptations, say, in which the monster has all the charisma, this is something of a democratic vampire film and devolves interest to members of the opposing force.
A pleasing modification is also made to the overbearing whiteness of King’s narrative world, with two of the pluckiest vampire hunters reimagined as African American.
Beyond the scare
But if this latest adaptation of Salem’s Lot is easy enough on the eye, intellectually it is shallow. This matters, because the best vampire fictions prompt us not merely to be terrified, but to start interpreting – they generate meanings as well as scares.
What, precisely, is signified by their monstrous protagonists? As expert in Victorian literature, Nina Auerbach, wrote in her still valuable book Our Vampires, Ourselves (1995): “No fear is only personal: it must steep itself in its political and ideological ambience, without which our solitary terrors have no contagious resonance.”
Writing his novel in 1975, as the progressive dreams of the 1960s faded, King found in the vampire an apt image of power and cruelty in America. In his own words, from the afterword to Salem’s Lot: “I saw a metaphor for everything that was wrong with the society around me, where the rich got richer and the poor got welfare … if they were lucky.” When vampires strike in the book, there is therefore the sense of a nation at risk, not merely a few families or a handful of individuals.
The new adaptation, by contrast, represses rather than invites such interpretive effort on our part. It carries across the novel’s mid-1970s setting, but is interested more in accurate period detailing – the right model of car, the appropriate hairstyle – than in substantive historical exploration. It also doesn’t use the category of the vampire movie to say something insightful about our own time: the post-COVID moment, for example, or the era of Donald Trump (a figure with rich vampiric possibilities).
Dauberman’s version of Salem’s Lot is certainly respectful of its source-text (unsurprising, perhaps, with King himself listed among its executive producers). And it functions perfectly well as a showcase for the varied skills of props designer, prosthetic artist and special effects engineer. But, as a work of cultural and social inquiry, this latest vampire story is disappointingly de-fanged.
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Andrew Dix does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Urban Co-operative Bank Ltd., Pratapgarh vide Directive CO.DOS.SED.No.S369/45-11-001/2024-25 dated April 15, 2024, for a period of six months up to the close of business on October 15, 2024.The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond the close of business on October 15, 2024.
2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from the close of business on October 15, 2024 to the close of business on January 15, 2025, subject to review.
3. All other terms and conditions of the Directive under reference shall remain unchanged.
Source: Africa Press Organisation – English (2) – Report:
DUBAI, United Arab Emirates, October 15, 2024/APO Group/ —
Entire international tech ecosystem descended on Dubai to mark the start of GITEX GLOBAL 2024 (www.GITEX.com) – the world’s largest and best-rated tech event
Innovative showcases and GITEX Editions & European Innovation Council pavilion launches also star on “Tech Investor Day”
“AI Super Tuesday” next up at GITEX GLOBAL 2024
International audiences enjoyed a memorable first day at GITEX GLOBAL 2024(http://apo-opa.co/4h8HyRu) on Monday as the world’s largest and best-rated tech event kicked off in sensational fashion – setting the stage for an unforgettable week of breakthrough tech showcases.
Taking place at Dubai World Trade Centre (DWTC) from 14-18 October, GITEX GLOBAL presents a record-breaking edition in its 44th year. It welcomes over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries – the highest-ever international participation at GITEX GLOBAL – comprising enterprises, experts, investors, startups, academia, researchers, and the entire global tech ecosystem.
Eagerly awaited exhibitions and events take centre stage
Across a capacity-crowd venue, international audiences became acquainted with a wide variety of incredible innovations on Day 1 of GITEX GLOBAL 2024. UAE technology group G42 presented its Intelligence Grid immersive experience, enabling visitors to discover how AI can power every aspect of future life as a ‘super utility’. Lenovo showcased its new range of hardware and cloud solution equipped with transformative AI capabilities of the future, while e& showcased some the world’s most mindblowing protypes in all of tech. One of the highlights was the XPeng AeroHT eVTOL Flying Car – enabling audiences to discover how such innovations represent a historic opportunity to revolutionise aviation and personal transportation.
With five incredible themes across five unmissable days this year, “Tech Investment Day” was first up with World Future Economy Digital Leaders Summit(http://apo-opa.co/4dLQ9qC) amongst the many shows that drew huge crowds and received widespread audience acclaim.
In a special briefing, His Excellency (H.E.) Abdullah Bin Touq Al Marri, Cabinet Member & UAE Minister of Economy, addressed attendees during ‘Rise of the New Economy: AI & Emerging Industries’. This session delved into the UAE’s strategic initiatives fostering innovation, enhancing competitiveness, and positioning the country as a global leader in the new economy.
With the UAE’s non-oil sector accounting for 74% of national gross domestic product (GDP) in 2024, H.E. Al Marri reaffirmed the Ministry of Economy’s ambitious plans for the years ahead, insisting: “We are in the business of breaking records. We’ve already achieved a non-oil sector that accounts for 74% of GDP – this record has never happened before in our country’s history. The UAE’s environment and ecosystem attracts people from around the globe – and the target now is to reach 80% by 2030 and become an R&D hub for the world.”
With several leadership sessions held throughout the Monday schedule, H.E. Faisal Al Bannai, Advisor to the UAE President & Secretary General of the Advanced Technology Research Council (ATRC), shared key insights and perspectives during ‘AI Leadership: Steering Societal Transformation’. AI socio-economic implications were discussed alongside global AI leadership, models, governance, and regulation.
Elsewhere on a historic opening day to celebrate GITEX GLOBAL’s record-extending 44th edition, new industry-defining programmes were also launched – including GITEX Editions, an exclusive platform for late-stage advanced tech companies and a premier hub for unicorns, soonicorns and rhinos.
GITEX Editions connects 59 top global unicorns and was attended by H.E. Omar Sultan Al Olama, UAE Minister of State for AI, Digital Economy & Remote Work Applications, also addressed attendees between another applauded leadership session – ‘The UAE As The Sandbox For Pragmatic Ai Regulation And Policy Development’.
The year’s most impactful discussions surrounding AI’s future in society and industry were also attending by high numbers of visitors. While discussing the most transformative AI case studies across government, enterprise, and startups, the need to balance AI’s potential with creativity and human intuition was examined in various sessions, including ‘Regulating Tech: The Intersection of Tech, Crime and Law’.
Didier Jacobs,Head of ICT & Chief AI Officer at Europol, stressed that heightened collaboration and cooperation are needed to overcome challenges and solve international crime, adding: “Cybercrime knows no borders. There are many technologies that can be misused for hacking, extortion, sabotage, illegal transactions, and so on. What’s needed are solutions – a blend of increased human collaboration and technology deployment is essential.”
As this week marks the largest-ever European participation at GITEX GLOBAL with 38 European countries exhibiting alongside 1,000-plus SMEs and 450-plus startups, the European Innovation Council pavilion was officially launched to commemorate the milestone.
With debuting exhibitors from countries including Austria, Portugal, Latvia, Serbia, Bosnia & Herzegovina, and Switzerland in attendance, Trixie LohMirmand, Executive Vice President of DWTC, the organiser of GITEX GLOBAL, opened the brand-new site. This casts a unique spotlight on Europe’s AI, tech, and innovation advancements alongside the cross-continental collaboration efforts currently taking shape across the continent.
What next at GITEX GLOBAL 2024?
GITEX GLOBAL 2024 continues Tuesday as “Super AI Tuesday” showcases how AI is transforming business strategies, revolutionising industries, and creating new growth opportunities across the globe. Up until Friday (October 18), attendees can also explore the latest tech sector services and solutions being rolled out across Central Asia, Southeast Asia, Latin America, and the Middle East.
GITEX GLOBAL is seamlessly connecting with world’s largest network of tech events with its stellar list including GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX NIGERIA. These events are fostering collaboration and driving innovation to shape the tech landscape of tomorrow.
More information on GITEX GLOBAL and to purchase passes, please visit http://www.GITEX.com
CPMI publishes two reports offering insights into enhancing cross-border payments by facilitating the interlinking and interoperability of payment systems.
Report on the interlinking of fast payment systems aims to support private and public stakeholders when deciding on the governance and oversight of these arrangements.
Report on greater harmonisation of the use of application programming interfaces (APIs) sets out 10 key recommendations.
The BIS Committee on Payments and Market Infrastructures (CPMI) today published two reports to the G20 that offer key insights and recommendations on the interlinking and interoperability of payment systems to enhance cross-border payments.
Linking fast payment systems across borders: governance and oversight
Currently, fast payment systems (FPS) are designed and used mainly for domestic retail payments. Interlinking them across different jurisdictions could expand the end user experience of low-cost, fast, easy to access and transparent payments to the cross-border dimension.
Opportunities to foster cross-border FPS interlinking have grown with the proliferation of FPS globally and with trends towards greater interoperability at the technical level. The growing use of application programming interfaces (APIs) and the adoption of the ISO 20022 financial messaging standard have opened up new possibilities to facilitate payment system interlinking.
However, agreeing on workable governance and oversight arrangements is challenging due to the multi-jurisdictional, cross-border and/or cross-currency nature of these arrangements.
Building on an earlier CPMI report that lays out the benefits and challenges of FPS interlinking and the role of APIs,1Linking fast payment systems across borders: governance and oversight discusses design choices and the risk implications of these arrangements, sets out the key decisions for governance and outlines recommendations for their oversight.
Promoting the harmonisation of application programming interfaces to enhance cross-border payments: recommendations and toolkit
APIs are increasingly used throughout the global financial system for various payment functions, enhancing the efficiency of payment data exchange. However, API technical standards are currently fragmented, hindering the potential of APIs in cross-border payments and leading to increased time and expenses, as well as higher risks of errors.
Promoting the harmonisation of application programming interfaces to enhance cross-border payments: recommendations and toolkit presents 10 recommendations directed at a broad array of stakeholders. The recommendations were formulated in collaboration with industry through a CPMI-led panel of experts to promote greater harmonisation of APIs in cross-border payments.
The recommendations do not propose a single universal API standard for cross-border payments, nor do they prescribe specific technologies or standards. Rather, they aim to steer API standards in a more harmonised direction by promoting facilitative processes, adoption of best practice design and international data standards, enhancements to the developer experience, and a focus on pre-validation APIs.
The CPMI will continue its engagement with stakeholders to disseminate the findings of the two reports, facilitate their practical implementation and promote the interlinking of FPS for cross-border payments and harmonisation of APIs.
1CPMI, Interlinking payment systems and the role of application programming interfaces: a framework for cross-border payments,report to the G20, July 2022.
This year is particularly momentous as we commemorate four decades of takaful since the enactment of the Takaful Act 1984. From a modest beginning, the size of takaful contribution has expanded nearly three times compared to a decade ago. Players have become more diverse and products have expanded to address different needs of households and businesses. The industry has also demonstrated resilience against challenging economic and financial conditions, while continuing to scale up and improving efficiency in delivering financial protection. This progress is imperative to respond to the higher expectations that stakeholders have on the industry to better serve the protection needs of society. Ahead of us, challenges remain significant – climate risk, ageing nation, cost of living pressures, advancement of technologies – all of which requires the industry to continue to innovate and be responsive to these needs. The adoption of VBIT principles is crucial to better align and guide the industry’s efforts to catalyse growth while contributing meaningfully to society.
Distinguished guests, ladies and gentlemen,
I am certainly pleased to be here, to see progress in the Value-Based Intermediation Takaful (VBIT) journey that began five years ago in 2019. I am delighted to be part of this important occasion and witness the collective commitment by industry players to foster a more ethical and impactful approach to takaful.
Advancing value-based with clear demonstration of impactful outcomes
As today’s conference is focused on Shariah values and measurements, I would like to highlight three imperatives that should guide industry’s efforts to implement the VBIT framework:
First, is the diversity and inclusivity of protection solutions, with alignment to national strategies and aspirations;
Second, is improvements to quality of services and conduct that reflects the fundamental values of Shariah; and
Third, is impact reporting guided by clear outcomes.
Diversity and inclusivity of protection solutions
Ladies and gentlemen,
We acknowledge the ongoing exemplary efforts by takaful operators to improve financial well-being and inclusion. For example, expansion in the range of microtakaful products catering to the underprivileged segments, has been flourishing in the recent years. In 2023, these affordable and accessible protections have provided coverage to almost 970,000 individuals.
We are also pleased to observe developments within the industry that support Bank Negara Malaysia’s Financial Sector Blueprint 2022-2026 vision to mainstream social finance, which now has use cases in the takaful sector. Before this, it is predominantly use cases in the banking sector. The innovative offerings of social blended takaful products enables a confluence of private and social funds where participants have the option to use their takaful benefits to contribute towards creation of a sustainable community.1
We hope to see more synergistic collaborations where philanthropic capital blends with commercial funding to develop impactful protection solutions. These efforts would ensure continuous protection for vulnerable segments, including micro-entrepreneurs, gig workers, and the ageing population.
Limited access to insurance and takaful for climate adaptation and resilience poses a significant challenge for Malaysian businesses, particularly SMEs. This limitation hinders their ability to effectively manage flood risks-Malaysia’s most frequent natural disaster- and slows recovery efforts, as insurance payouts are a crucial source of funding. Furthermore, common obstacles such as lengthy payout processes, inadequate product offerings, and insufficient coverage exacerbate the problem.2
At our end, Bank Negara Malaysia remains committed to providing an enabling environment for the industry to test and introduce innovations. Industry players are urged to embrace the aspirations of the recently issued Exposure Draft on Broader Application of Ta`awun in Takaful. This provides a facilitative framework for industry players to explore new takaful models in promoting social cohesion and wealth distribution. For areas that may require regulatory flexibility, we welcome interest in tapping the Financial Technology Regulatory Sandbox. This allows innovations to be piloted and refined, thus accelerating the integration of VBIT in product solutioning. You may be interested to note that the Sandbox now incorporates a Green Lane. This accelerated track offers a simpler and quicker path for financial institutions with a strong track record in risk management to test innovative solutions that are facing regulatory impediments.
For industry players aspiring to drive greater market competition via digitalisation, the formal application window to carry digital takaful business will be open on 2 January 2025 until 31 December 2026. We welcome prior consultation for those interested.
Improvements to quality of services and conduct
Efforts to diversify products and solutions must be paired with improvements in service quality and responsible conduct by market players and their intermediaries. The Customer Satisfaction Survey 2022 for the takaful and insurance industry revealed that while 74% of customers provided positive feedback on their experience, 23% expressed concerns, particularly on inefficiencies in claims processes and poor response from industry players and agents when reached for assistance.3 In Malaysia, the motor, medical and health segments have seen progress on this front through the roll out of digital roadside assistance solutions and the work to establish a central medical claims data platform, respectively. Malaysia’s experience in these two sectors illustrates that there is much to benefit from leveraging on technology.
With technology, not only will the end-to-end experience of consumers – from securing access to takaful cover to the claims and settlement process – be elevated, but digital takaful solutions can go a long way towards increasing consumer trust on the value of takaful protection, enhancing product affordability through better risk pricing and expediting purchasing and claims experiences.
Advancing impact reporting
The VBIT value proposition through exemplary industry practice, is best showcased through meaningful disclosure, and this brings me to my next point, our aspirations for the Maqasid Shariah Scorecard (MSS), that will be launched today.
I am encouraged to witness the industry’s efforts in developing the MSS, which I believe supports the Bank’s call for better impact creation through meaningful disclosures. While the scorecard is a measurement tool to demonstrate and validate VBIT based on Maqasid al-Shariah, it ultimately seeks to drive positive change in behaviour and measure broader outcomes to the community served by the takaful industry.
Globally, impact-based reporting has grown in importance as more stakeholders demand for greater transparency in assessing performance beyond financial reporting. Impact reporting is most commonly demonstrated in the climate and sustainability space, where such reporting serves to demonstrate how companies and financial institutions support the broader ESG goals and SDG agenda.
So given its pivotal role in the operationalisation of VBIT, it is crucial for the MSS to be well executed with clear alignment to operators’ business plans and operations. The successful implementation of MSS will facilitate ambitions for it to play a larger and deeper role, with the goal of elevating MSS as the benchmark reference for impact reporting, domestically and globally. As the next step, we urge the industry to consider what needs to be done for the MSS to be effectively implemented, commencing with strategies to ensure firm understanding of its objectives and measurement methodology by each industry player.
Ladies and gentlemen,
Before I conclude, may I remind ourselves that in implementing VBIT and MSS, the issues of skills and professionalism must be addressed. It is, therefore, critical for the industry to diligently build up expertise, thereby unlocking the full potential of its contribution towards amplifying social and economic impact. We commend efforts such as the VBIT Training Module launched today and hope that MTA and members continue to exert energy to address talent gaps towards building a highly capable and adaptable workforce.
I trust the industry will maintain the momentum to continue accelerating the development of the takaful and retakaful industry through VBIT. May we all be guided by Surah An- Najm, verses 39 and 40, which mean: “And that man shall have nothing but what he strives for, and that his effort will soon be seen.”
With that, I wish you a successful conference ahead. Thank you.
MATAWAN, N.J. and NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Redefine Management, a practice management organization that is leading the way in defining excellence within the pain management and musculoskeletal space, today announced its partnership with Medmo, a comprehensive technology platform that orchestrates medical imaging workflows for providers and patients. Together, they’ll advance their shared interest in providing the best imaging patient experience and access to care possible for the entire population they serve.
Diagnostic imaging is a critical piece of the care journey for patients with orthopedic or musculoskeletal issues, as it’s often the most effective way to diagnose conditions and create effective treatment plans. Through this partnership, Redefine and Medmo deliver ample patient access and dedicated engagement, as well as the tools to drive increased adherence and efficiency across all imaging orders, while at the same time reducing the overall cost of care coordination related to imaging orders. Medmo seamlessly facilitates imaging orders from start to finish to create better outcomes for all parties.
“Medmo was easy to implement right into our existing workflow, and we saw immediate results on day one,” said Zack Fox, COO of Redefine Management. “This increased efficiency has positively impacted our practices and has improved the patient experience and outcomes, which is our number one priority. Medmo is fundamentally changing the way imaging orders are facilitated, and ultimately simplifying an element of care that was previously very complex and challenging for patients who are in pain and in need of convenience and ease.”
“As a result of this partnership, all providers associated with Redefine Management gain immediate access to 15,000+ imaging centers across the country, as well as the ability to easily track and manage imaging orders in real-time,” said Lucas Takahashi, co-founder and CEO of Medmo.
Redefine is dramatically reducing the time spent on imaging coordination by offloading patient engagement, scheduling, insurance verification, and the retrieval of results to Medmo’s Care Technology. This has allowed Redefine’s staff to spend more time on high-value, patient-facing activities.
Most importantly, this partnership will address the most common imaging challenges, such as confusion on next steps for patients and lack of appointment visibility for providers. By effectively closing the loop on each patient’s care journey as quickly and efficiently as possible, Medmo will be able to drive better overall adherence, quicker turnaround times, and improved speed to diagnosis and positive outcomes for Redefine’s patients.
About Medmo Medmo is an all-encompassing medical imaging workflow solution for ordering providers. From patient engagement and scheduling, to insurance verification and retrieving results, Medmo creates a consistent loop for providers, staff and patients. Operating in all 50 states and supporting patients with all insurance types, Medmo is an effortless platform that thousands of healthcare providers use to drive adherence and compliance, positive patient experiences and reductions in the operating costs associated with patient coordination. Learn more at https://www.medmo.com/.
About Redefine Management: Redefine Management (https://redefinemanagement.com/) is a healthcare consulting and management company driven by a commitment to excellence in healthcare solutions, specifically in the areas of pain management, orthopedics and musculoskeletal medicine. Their expertise spans strategy & finance, operations, marketing & sales, and more. They cater to a diverse clientele that includes, but is not limited to, medical provider groups, outpatient services, and private equity-backed practices.
LAS VEGAS, Oct. 15, 2024 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, will gather with partners, industry leaders, innovators, and professionals to explore the future of insurance technology at ITC Vegas taking place October 15-17, 2024, at the Mandalay Bay in Las Vegas, NV. The company will demonstrate how its innovative technology is helping to reimagine insurance for the digital age.
Duck Creek will showcase its comprehensive suite of cloud-based solutions designed to help insurers streamline operations, enhance customer experiences, and accelerate digital transformation. Attendees are invited to visit the Duck Creek booth (#1950) to view product demonstrations of:
Duck Creek Suite, low-code configuration tools, open APIs and add on products that can be implemented as pieces or one cohesive unit and integrated into the Insurtech ecosystem.
Duck Creek Claims, a SaaS solution automates workflows, simplifies data analysis with analytics, and integrates seamlessly into existing systems to streamline the entire process from initial report to final settlement.
Duck Creek Distribution Management, a dynamic platform that adapts to a users’ needs, streamlines workflow, and ensures regulatory adherence.
Duck Creek Reinsurance, a comprehensive reinsurance management solution that allows insurance carriers to manage reinsurance partners, contracts, bills, recoveries, and payables.
The company is also sponsoring the Women’s Leadership Forum on October 16 at the Meet-up Series Zone on the Expo Floor. The event will offer a supportive space for open discussions about the unique experiences of women in insurance. Attendees are encouraged to discuss challenges faced, celebrate wins, and share effective leadership strategies. Attendees will also hear from leaders who will explore the future landscape of the industry and focus on how women can seize more leadership positions and opportunities.
“The insurance industry is at a pivotal moment of digital transformation,” said Bindu Crandall, Chief Marketing Officer of Duck Creek Technologies. “Our solutions are designed to meet the evolving needs of insurers and our presence at ITC Vegas underscores our commitment to driving innovation and helping insurers reimagine their operations for the modern era. Duck Creek is also committed to helping women succeed in the insurance industry, and we’re excited to foster these conversations at the Women’s Leadership Forum.”
Key highlights of Duck Creek’s participation at ITC 2024 include:
Live Demonstrations: See firsthand how Duck Creek’s products empower insurers to optimize policy administration, enhance underwriting, and improve claims management. Demonstrations of the Duck Creek Suite, the company’s flagship end-to-end insurance software platform, featuring its cloud-native architecture, low-code configuration tools, and seamless digital experiences.
New Payment Solution: Learn more about Duck Creek Payments Facilitator, a modern, end-to-end payment solution that simplifies insurance carriers’ payments delivering secure transaction capabilities as part of the proven Duck Creek Platform.
Networking Opportunities: Connect with Duck Creek’s experts one-on-one to exchange ideas, learn more about the company’s innovative solutions and explore collaboration opportunities.
Ecosystem of Integrations: Learn about Duck Creek’s expansive partner network, offering insurers a wide array of pre-integrated solutions.
Duck Creek experts will be available for one-on-one meetings and product demonstrations throughout the show. Those attendees that schedule a demo with Duck Cruck at ITC Vegas will be entered into a raffle to win a pair of Apple AirPods Max. To schedule a meeting visit: https://www.duckcreek.com/event/itc-vegas-2024/
About Duck Creek Technologies Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit http://www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.
LEXINGTON, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) — Mimecast, a leading global Human Risk Management platform, today announced the appointment of Amol Kulkarni to its Board of Directors effective October 1, 2024.
Kulkarni is a long-time, esteemed technology executive and advisor who spent more than 20 years at industry giants Microsoft and most recently, CrowdStrike, where he served as chief product and engineering officer. During Kulkarni’s tenure the organization grew from under $10M in annual recurring revenue to $3B. In addition to his appointment to Mimecast’s board, Kulkarni is a senior advisor at Permira and serves on the board of directors at Dynatrace and JumpCloud.
“Amol’s expertise and leadership has been a driving force behind the explosive growth of many global technology organizations. His counsel will be invaluable to Mimecast, and I couldn’t be prouder to count him among our board members,” said Mimecast CEO Marc van Zadelhoff. “We’ve entered a new era at Mimecast and Amol’s experience leading product innovation and implementation will make an indelible impact on our strategy to forge the future of Human Risk Management.”
“I join the Mimecast Board of Directors with tremendous enthusiasm,” said Kulkarni. “The company has a history of innovation in cybersecurity and has made incredible strides at a rapid pace toward preventing the vulnerabilities that occur at the intersection of humans and technology. Between the launch of its connected Human Risk Management platform and three strategic acquisitions, Elevate, Code42 and Aware, Mimecast is helping to solve complex problems and setting standards of excellence in its approach to innovation in critical areas like artificial intelligence. I’m excited to work with the executive team to build on the company’s strong foundation, adding critical capabilities to its platform and further increasing its leadership position.”
Kulkarni earned a Bachelor of Engineering in Electrical Engineering from the University of Pune, a Master of Technology in Energy Systems Engineering from the Indian Institute of Technology, Bombay, and a Ph.D. in Electrical Engineering from the University of Washington.
About Mimecast Mimecast is a leading AI-powered, API-enabled connected Human Risk Management platform, purpose-built to protect organizations from the spectrum of cyber threats. Integrating cutting-edge technology with human-centric pathways, our platform enhances visibility and provides strategic insight that enables decisive action and empowers businesses to protect their collaborative environments, safeguard their critical data and actively engage employees in reducing risk and enhancing productivity. More than 45,000 businesses worldwide trust Mimecast to help them keep ahead of the ever-evolving threat landscape. From insider risk to external threats, with Mimecast customers get more. More visibility. More insight. More agility. More security.
Mimecast and the Mimecast logo are either registered trademarks or trademarks of Mimecast Services Limited in the United States and/or other countries. All other third-party trademarks and logos contained in this press release are the property of their respective owners.
Press Contacts Tim Hamilton Principal Public Relations Manager +1 603-918-6757 thamilton@mimecast.com
BOSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) — QuEra Computing today announced an investment in QuEra by Google Quantum AI. The investment marks a significant milestone in QuEra’s journey to develop and make available useful, scalable and fault-tolerant quantum computers and affirms the recent significant technical progress made by the company. The investment builds on a collaboration with Harvard and MIT, based on the groundbreaking research led by the laboratories of Mikhail Lukin, Vladan Vuletic, and Markus Greiner. Google Quantum AI’s investment in QuEra’s neutral atom technology adds to its portfolio of primary work in superconducting qubits.
For QuEra, the investment will help to accelerate technology advancements in the neutral atom space, such as developing quantum error correction capabilities needed to deliver quantum computing solutions and delivering additional capabilities outlined in QuEra’s strategic roadmap, publicly announced in January 2024.
“Google Quantum AI’s strategic investment in QuEra, which we recently closed, is a testament to the strength of our technology, our world-class team, and our long-term partnerships with Harvard and MIT. This investment from Google Quantum AI, coupled with an additional financing initiative to be announced in the coming weeks, allows us to execute on our vision and company strategy, and positions us as the recognized market leader for neutral atom-based quantum computing solutions,” said Andy Ory, Interim Chief Executive Officer of QuEra. “Google Quantum AI is a leader in quantum computing and this investment recognizes the potential of different quantum computing technologies, and specifically QuEra’s leading neutral-atom technology.”
QuEra’s quantum solutions are being developed for use cases in important verticals such as Materials, Chemicals, Life Sciences/Pharma, Government, Financial Services, and other compute-intensive industries, and may be used to enable novel AI/Machine Learning capabilities. QuEra invites interested parties to learn more about our quantum computing initiatives or to contact us directly for partnership opportunities. For additional information, please visit http://www.quera.com.
About QuEra QuEra Computing is the leader in developing and productizing quantum computers using neutral atoms, widely recognized as a highly promising quantum computing modality. Based in Boston and built on pioneering research from Harvard University and MIT, QuEra operates the world’s largest publicly accessible quantum computer, available over a major public cloud and for on-premises delivery. QuEra is developing useful, scalable and fault-tolerant quantum computers to tackle classically intractable problems, becoming the partner of choice in the quantum field. Simply put, QuEra is the best way to quantum. For more information, visit us at quera.com and follow us on X or LinkedIn.
Media Contact Merrill Freund press@quera.com +1-415-577-8637
ATLANTA, Oct. 15, 2024 (GLOBE NEWSWIRE) — Instant Financial, a leader in fee-free on-demand pay solutions, today announced the launch of Instant Direct, a new solution paving the way for improved employee financial flexibility and freedom. With Instant Direct, employees are more empowered than ever to choose how they want to access their earned wages, expanding the options for seamless, fee-free access to pay. Instant Direct lets employees decide to either transfer their funds to an existing bank account or continue to use the Instant Card, a choice they can make depending on their individual needs and preferences.
The added flexibility of Instant Direct answers the growing demand for immediate access to wages at a time when financial security and control are top priorities for the U.S. workforce. By providing multiple fee-free options for receiving and accessing funds, Instant makes it seamless for employees to choose the financial ecosystem that works best for them. Instant Direct gives users more flexibility to access their wages on their terms – whether for routine expenses, unexpected emergencies, or financial planning – without waiting for traditional payday cycles.
Instant Direct also simplifies earned wage access (EWA) for employers, providing the flexibility many HR and leadership teams need. By simplifying communication around employee eligibility and providing multiple EWA models, Instant Direct is helping streamline the implementation process and unlocking operational efficiencies for companies across the U.S.
Spotlight on Employee Financial Wellness
The launch of Instant Direct follows the release of Instant’s 2024 Wages & Wellbeing study, which revealed that 82% of workers believe immediate access to same-day pay would significantly enhance their ability to save money. The same survey found that 49% of working Americans reported frequently experiencing financial shortfalls before payday.
Financial stress is clearly pervasive, and on-demand pay has proven to be a critical tool for individuals seeking economic stability. By offering fee-free access to wages and its new Instant Direct option, Instant helps employees across the U.S. better manage their finances, avoid costly alternatives like payday loans, and increase their ability to plan, save, and invest.
“Today’s employees expect more options regarding when and how they’re paid,” said Tal Clark, CEO of Instant. “Instant Direct puts that power in their hands, allowing them to take control of their financial decisions and wellness. Instant Direct allows us to meet employees where they are in their financial journeys, providing flexible, fee-free solutions that fit into their lives.”
Instant Direct is available now. To learn more about how Instant can help reimagine pay cycles for your employees, visit http://www.instant.co/direct. Other non-access fees may apply.
About Instant Financial Instant Financial is a comprehensive employee pay platform providing earned wage access, tip disbursement, and electronic payroll – allowing workers to access their earned wages immediately, whenever, however, and wherever they want. By unlocking on-demand pay, Instant empowers financial freedom and wellness for employees while improving retention and attendance for employers. Compliant across all 50 states, Instant is trusted by leading companies nationwide to bridge the gap between work day and payday. Learn more about Instant and how it can impact your company at http://www.instant.co.
This card (or the Instant Payroll Card) is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa, U.S.A. Inc. All other trademarks and service marks belong to their respective owners.
NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Empathy, the world leader in helping families deal with loss, has announced the launch of its newest product offering, LifeVault™ which makes it easier than ever for Americans to build comprehensive legacy plans. LifeVault represents the next phase of Empathy’s mission to change the way Americans manage the loss of a loved one by making personalized, holistic legacy planning and support more accessible.
“At Empathy, we support families during some of life’s most challenging moments, starting with our first-in-class product for support after the loss of a loved one, and now with LifeVault which puts the focus on planning ahead,” said Empathy co-founder and CEO Ron Gura. “LifeVault is the next phase of Empathy’s mission — making personalized, holistic legacy planning and support possible for even more families.”
Most families perceive estate planning as complex, time-consuming, and costly. For these reasons, 67 percent of Americans have no estate plan in place—a number that disproportionately affects middle- and lower-income families.
With LifeVault, Empathy further establishes its deep understanding of what families need to handle loss in America, leveraging corporate partnerships to support millions of families in their time of need. Empathy’s LifeVault is a white-labeled solution that increases access to estate planning services via thoughtful tailored integrations with trusted life insurance carriers and agents, empowering families with the legacy planning tools they need to make informed choices and move forward in confidence following the loss of a loved one.
LifeVault will be available to families via financial institutions, empowering them to take control of their legacy with tools and guidance to create more comprehensive roadmaps. By working with trusted and enduring financial institutions, individuals can ensure that their families will be taken care of both financially and administratively––a streamlined experience that will pay dividends to countless families in the years to come as they cope with a new reality following loss.
Clients will be able to revisit their plans and choices to make updates to a variety of integral legacy planning documents, including:
Last Will & Testament
Health Care Directive
Power of Attorney
Funeral Directive
New York Life, the largest mutual life insurance company in the United States, served as an initial design partner with Empathy on LifeVault. The company was the first life insurance carrier to leverage Empathy’s loss support for bereaved families and now is the first insurer to introduce the legacy planning offering.
“Our ongoing partnership with Empathy well-represents New York Life’s continued commitment to delivering exceptional client and agent experiences through innovation,” said Regina Warga, head of client experience, New York Life. “This includes empowering our agents to deliver further value to our clients and their loved ones through new technologies like Empathy’s latest offering that are designed to strengthen relationships and support families as they build legacies and secure financial futures.”
With a deep commitment to helping families work through life’s most difficult moments, Empathy is redefining the way that we plan for and deal with loss. Learn more about how Empathy is changing the way the world deals with loss at https://www.empathy.com/.
ABOUT EMPATHY
Empathy is a technology company transforming the way the world prepares for and manages the loss of a loved one. With $90 million in total funding from leading tech investors and the largest global insurance carriers, Empathy is at the forefront of the emerging compassionate economy, setting the new standard in family care and modern employment benefits. Founded in 2020 by Ron Gura and Yonatan Bergman, Empathy offers a full range of assistance to those facing grief, estate planning and settlement, probate and more through life insurance benefits or via bereavement leave through an employer. By partnering with Fortune 500 companies and leading insurance carriers, Empathy currently offers services to 40 million covered individuals across the U.S. at no cost to families. Empathy uses its award-winning app and Care Team to carefully assess needs and next steps and complements experiences through time-saving and tech-enabled tools to effectively provide personalized plans, automated workflows and care resources, including an extensive library of articles, guides and meditation tools to support them through their grieving process. With accolades from Apple, Google Play, CB Insights and Fast Company, Empathy is the fastest-growing benefit for insurance carriers and employers alike. Learn more about Empathy at http://www.empathy.com.
ATLANTA, Oct. 15, 2024 (GLOBE NEWSWIRE) — Fortiva® Retail Credit, the leader in second look point-of-sale financing, today announced a new partnership with Mor Furniture for Less, a premier furniture retailer on the West Coast that ranks among the top 100 furniture retailers in the US.
The Fortiva Retail Credit program offers second look financing solutions that help businesses sell more goods by providing more consumers with access to credit. This partnership will allow Mor Furniture for Less to expand consumer financing options for home furnishings purchases. Fortiva Retail Credit’s market-leading technology and proprietary underwriting will help Mor Furniture for Less approve more consumers and facilitate a seamless consumer application process for customers in-store and online.
“We are thrilled to announce our partnership with Mor Furniture for Less, offering a second look lending solution to optimize Mor Furniture’s consumer finance program,” said David Caruso, Chief Commercial Officer for Atlanticus Holdings Corporation. “Our commitment to offering more inclusive financial services to millions of everyday Americans is a core principle which aligns with Mor Furniture’s mission of delivering consumers the best value on quality merchandise.”
Harold Linebarger, Chief Operating Officer for Mor Furniture, stated, “Partnerships which provide value to both the consumer and the retailer are essential to Mor’s success. Mor is thankful for the opportunity to provide even greater value to our valued customers and is looking forward to this new partnership.”
About Fortiva Retail Credit Fortiva® Retail Credit is a technology-enabled second look point-of-sale consumer credit program issued by The Bank of Missouri. The omnichannel program leverages instant decisioning capabilities, deep underwriting analytics, and a paperless process to provide best-in-class retail finance solutions for its clients both in-store and online. This flexible technology platform provides consumers with a loan decision within seconds. Clients in markets such as furniture, big box/specialty retail, flooring, home improvement, HVAC, electronics, elective medical, health and fitness, home automation, and jewelry offer the Fortiva Retail Credit program for second look financing. The Fortiva® Retail Credit program is available throughout the United States, including Puerto Rico and the U.S. Virgin Islands. The Fortiva Retail Credit program is managed by subsidiaries of Atlanticus Holdings Corporation. For more information, please visit http://www.fortivaretailcredit.com
About Mor Furniture for Less Mor Furniture for Less, established in 1977, is the largest furniture company on the West Coast with 38 stores in 7 states, offering a great selection and guaranteed low prices in all home furnishing categories: bedroom, mattresses, living room, small spaces furniture, and dining furniture. To learn more, visit http://www.morfurniture.com
SYNNYVALE, Calif., Oct. 15, 2024 (GLOBE NEWSWIRE) — Illumio Inc., the Zero Trust Segmentation company, announced today that Illumio has achieved Amazon Web Services (AWS) Security Competency status for its innovative cloud security solution, Illumio CloudSecure. This designation recognizes that Illumio has demonstrated proven technology that helps customers achieve their cloud security goals.
Achieving the AWS Security Competency differentiates Illumio as an AWS Partner Network (APN) member that provides specialized software designed to help enterprises adopt, develop, and deploy complex projects on AWS. To receive the designation, APN members must possess deep AWS expertise and deliver solutions seamlessly on AWS.
“We’re proud to achieve the AWS Security Competency status, reinforcing our commitment to helping our customers securely accelerate their journey to the cloud,” said Todd Palmer, Senior Vice President of Global Partner Sales and Alliances at Illumio. “Building a consistent Zero Trust strategy across hybrid and multi-cloud environments is vital for protecting AWS workloads. Illumio CloudSecure allows organizations to do just that, empowering teams to author and publish proactive cloud workload segmentation policies at scale using native controls in their public, hybrid, and multi-cloud environments.”
Illumio CloudSecure provides organizations with a proven and effective way to gain visibility and limit the impact of breaches and ransomware across hybrid and multi-cloud environments. With Illumio CloudSecure, organizations can contain attacks efficiently and cost effectively on applications and workloads in their public cloud environments, across servers, virtual machines, containers, and serverless computing, by preventing unnecessary communications.
AWS is enabling scalable, flexible, and cost-effective solutions from startups to global enterprises. To support the seamless integration and deployment of these solutions, AWS established the AWS Competency Program to help customers identify Consulting and Technology APN Partners with deep industry experience and expertise.
The AWS Security Competency designation builds on Illumio’s existing engagement with AWS including its inclusion in the AWS ISV Accelerate Program and Public Sector Partner Program. Illumio was also named a top solution for Zero Trust and cloud security in the 2023 Cloud Security Trends guide by SANS and AWS.
For more information on how you can secure your applications, cloud environments, and hybrid IT on AWS with Illumio, visit: https://www.illumio.com/solutions/aws. You can also find Illumio’s solutions in AWS Marketplace.
About Illumio Illumio, the most comprehensive Zero Trust solution for ransomware and breach containment, protects organizations from cyber disasters and enables operational resilience without complexity. By visualizing traffic flows and automatically setting segmentation policies, the Illumio Zero Trust Segmentation Platform reduces unnecessary lateral movement across the multi-cloud and hybrid infrastructure, protecting critical resources and preventing the spread of cyberattacks. More information: https://www.illumio.com/
COLUMBIA, Md., Oct. 15, 2024 (GLOBE NEWSWIRE) — Tenable®, the exposure management company, today announced new data security posture management (DSPM) and artificial intelligence security posture management (AI-SPM) capabilities for Tenable Cloud Security, the actionable cloud security solution. By extending exposure management capabilities to cloud data and AI resources, Tenable Cloud Security reduces risk to two of the biggest emerging threats.
Today’s cloud environments are more complex than ever. The challenge of managing this complexity has led to preventable security gaps caused by misconfigurations, risky entitlements and vulnerabilities, leaving sensitive data and AI resources vulnerable. In fact, Tenable Research found that 38% of organizations are battling a toxic cloud triad – cloud workloads that are publicly exposed, critically vulnerable and highly privileged.
Tenable Cloud Security exposes risk from across hybrid and multi-cloud environments, including vulnerabilities, misconfigurations and excess privilege, that affects data and AI resources. Integrating DSPM and AI-SPM into Tenable Cloud Security enables users to automatically discover, classify and analyze sensitive data risk with flexible, agentless scanning. With Tenable Cloud Security’s intuitive user interface, security leaders can easily answer tough questions – such as “What type of data do I have in the cloud and where is it located?,” “What AI resources are vulnerable and how do I remediate the issue?” and “Who has access to my sensitive cloud and AI data?”
“Data is constantly on the move and new uses for data in today’s AI-driven world have created new risks,” said Liat Hayun, vice president of product management for Tenable Cloud Security. “DSPM and AI-SPM capabilities from Tenable Cloud Security bring context into complex risk relationships, so teams can prioritize threats based on the data involved. This gives customers the confidence to unlock the full potential of their data without compromising security.”
“The importance of cloud data has made communicating data exposure risk one of the biggest security challenges for CISOs,” said Philip Bues, senior research manager, Cloud Security at IDC. “Tenable is at the forefront of this emerging DSPM-CNAPP conversation, enabling customers to contextualize and prioritize data risk and communicate it, which is pertinent to almost every domain in CNAPP.”
AI-SPM features enable customers to confidently forge ahead with AI adoption by enforcing AI and machine learning configuration best practices and securing training data. With the combined power of AI-SPM and Tenable Cloud Security’s market-leading cloud infrastructure entitlement management (CIEM) and Cloud Workload Protection (CWP) capabilities, customers can manage AI entitlements, reduce exposure risk of AI resources, and safeguard critical AI and machine learning training data to ensure data integrity.
Available to all Tenable Cloud Security and Tenable One customers, these new features enable customers to:
Gain complete visibility and understanding of cloud and AI data – Tenable Cloud Security continuously monitors multi-cloud environments to discover and classify data types, assign sensitivity levels and prioritize data risk findings in the context of the entire cloud attack surface.
Effectively prioritize and remediate cloud risk – Backed by vulnerability intelligence from Tenable Research, context-driven analytics provides security teams with prioritized and actionable remediation guidance to remediate the most threatening cloud exposures.
Proactively identify cloud and AI data exposure – Unique identity and access insights enable security teams to reduce data exposure in multi-cloud environments and AI resources by monitoring how data is being accessed and used and detect anomalous activity.
Join the upcoming Tenable webinar, “Know Your Exposure: Is Your Cloud Data Secure in the Age of AI?” on October 22, 2024 at 10 am BST and 11 am ET, by registering here.
Read today’s blog post, “Harden your cloud security posture by protecting your cloud data and AI resources” here.
With a Net Promoter Score of 73, Tenable Cloud Security helps customers around the world expose and close priority threats. More information about DSPM and AI-SPM capabilities available in Tenable Cloud Security is available at: https://www.tenable.com/announcements/dspm-ai-spm
About Tenable Tenable® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for approximately 44,000 customers around the globe. Learn more at tenable.com.
SEATTLE, Oct. 15, 2024 (GLOBE NEWSWIRE) — Trupanion, Inc. (Nasdaq: TRUP), a leader in medical insurance for cats and dogs, announced today it will report financial results for its 2024 third quarter after the market closes on Wednesday, October 30, 2024. The company will host a conference call that day beginning shortly after 1:30 p.m. PT / 4:30 p.m. ET.
A live webcast (including a slide presentation) discussing results, guidance and management observations will be available on Trupanion’s Investor Relations site under Investor Events at http://investors.trupanion.com and will be archived online for 3 months upon completion of the conference call.
Participants can access the conference call by dialing 1-877-300-8521 (United States) or 1-412-317-6026 (International). A telephonic replay of the call will also be available after the completion of the call, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (International) and entering the replay pin number: 10192561.
About Trupanion:
Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia with over 1,000,000 pets enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet owners with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). For more information, please visit trupanion.com.
Contact:
Laura Bainbridge, Senior Vice President, Corporate Communications Gil Melchior, Director, Investor Relations Investor.Relations@trupanion.com
BOISE, Idaho, Oct. 15, 2024 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU), today announced the availability of a brand-new category of clock driver memory with the launch of its Crucial® DDR5 clocked unbuffered dual inline memory modules (CUDIMM) and clocked small outline dual memory modules (CSODIMM), which are now shipping in volume. The JEDEC-standard solutions run at speeds up to 6,400 MT/s (megatransfers per second), more than twice as fast as DDR41 and 15% faster than traditional non-clock-driver-based DDR5.2 Designed to provide more speed stability, faster downloads and better refresh rates, these solutions represent a completely new frontier of memory form factors for next-generation PCs. Micron’s CUDIMM and CSODIMM solutions are the industry’s first commercially available JEDEC-standard DDR5 CUDIMM and CSODIMM solutions to hit the market since JEDEC standardized the specification earlier this year.
In addition, Intel has validated Micron DDR5 CUDIMM and CSODIMM solutions up to capacities of 64 gigabytes (GB) for use with its Intel® Core™ Ultra processors (Series 2), which were launched last week on Oct. 10.
“As AI takes flight, a memory paradigm shift is needed to keep pace with unprecedented system performance requirements,” said Dinesh Bahal, corporate vice president and general manager of Micron’s Commercial Products Group. “Micron is shipping the industry’s first JEDEC-standard, commercially available DDR5 CUDIMM and CSODIMM solutions to power fast, out-of-the-box speeds for AI PCs and high-end workstations. With this new category, we are arming the ecosystem with next-generation memory solutions to future-proof today’s devices for tomorrow’s AI workloads.”
While DDR5 offers rapid speeds, scaling challenges have made it difficult to deliver DDR performance increases while ensuring reliable high speeds and signal integrity, especially when combining high bandwidth with large capacity. Representing an evolution of traditional UDIMMs, the new category of CUDIMMs and CSODIMMs feature a clock driver directly on the memory module to stabilize speeds. While most systems today rely on the clock from the CPU, using innovative engineering, Micron has directly integrated the clock driver into the memory module to conquer electrical challenges at the root, making memory faster and more stable.
The validation of these new client memory modules by Intel will empower top PC manufacturers and integrators to begin adopting Micron’s innovative clock driver-based memory into forthcoming PC platforms. Notably, Micron is the first memory vendor to validate 32 gigabit die-based 64GB CUDIMM and CSODIMM solutions for Intel® Core™ Ultra desktop processors. This enables system capacities up to 256GB for AI PCs and high-end workstations, which demand high memory densities and performance.
“Micron and Intel have been working together to bring next-generation compute performance to the market,” said Dimitrios Ziakas, vice president of memory and I/O technologies at Intel. “The powerful combination of Intel Core Ultra desktop processors and Micron’s latest clock driver-powered CUDIMM/CSODIMMs with up to massive 64 GB capacities will be critical to helping propel the next wave of data-rich AI PCs to 6400 MT/s speeds. By aligning our strategies and co-validating, we are offering the most advanced memory and CPU products to our customers and the market and accelerating ecosystem adoption of future-looking form factors.”
The 6,400MT/s speeds provided by Crucial’s plug-and-play DDR5 CUDIMM and CSODIMM memory offer an out-of-the-box performance boost to AI PCs and other data-hungry workloads, whether users are upgrading from a DDR4 system or looking to increase DDR5 performance. The CUDIMM solutions are suited for desktop computers and the CSODIMM solutions for laptops.
Consumers will be able to purchase the CUDIMM and CSODIMM solutions in 16GB capacities through Crucial.com, which will come with a limited lifetime warranty.3 Capacities of 64GB will be available for purchase through the channel during the first half of calendar year 2025.
With the addition of DDR-based CUDIMMs and CSODIMMs, Micron continues to expand its memory portfolio with form factor and performance innovations to power next-generation PCs, including AI PCs, and increasingly demanding workloads.
About Micron Technology, Inc. We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.
1 DDR5 6,400MT/s speeds are comparable to extreme-performance DDR4 memory speeds and 2x faster than maximum standard DDR4 speeds of 3,200MT/s. 2 Based on DDR5 running at maximum bandwidth of 5600 MT/s 3 Limited lifetime warranty valid everywhere except Austria, Belgium, France, and Germany, where warranty is valid for ten years from the date of purchase.
Three sites featuring targeted capacity of 500MW each
Signed option to lease or purchase a total of 580 acres of land, with two sites located in North Texas and one site located in West Texas
Suitable for both HPC and bitcoin mining data centers
NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Cipher Mining Inc.(NASDAQ: CIFR) (“Cipher” or the “Company”) today announced it has signed option agreements to acquire the recently announced three sites in West and North Texas from Juvo Energy.
The three sites are adjacent to transmission assets and in the final stages of approval for interconnection with 500 MW targeted capacity per site. Cipher will be able to exercise the option in the next 24 months to acquire the sites, including 580 acres of land to be either leased or purchased. The ultimate purchase price to exercise the options for the sites will be determined by the number of megawatts actually approved for interconnection. The three sites all have the necessary characteristics for development of HPC data centers or bitcoin mining operations.
“We have seen increasing demand from hyperscalers for large sites that can be energized within the next three years. By getting involved earlier in the development timeline and process, we can source valuable sites that most of our competitors cannot, spend less for premium sites and improve long-term visibility for our supply chain management and construction functions. These new sites give us tremendous optionality on the expansion of our HPC hosting business,” said Tyler Page, Cipher’s CEO.
With the addition of these new sites, Cipher’s active portfolio and development pipeline will total 2.5 GW across 10 sites.
About Cipher
Cipher is an emerging technology company focused on the development and operation of bitcoin mining data centers. Cipher is dedicated to expanding and strengthening the Bitcoin network’s critical infrastructure. Together with its diversely talented team and strategic partnerships, Cipher aims to be a market leader in bitcoin mining growth and innovation. To learn more about Cipher, please visit https://www.ciphermining.com/.
About Juvo
Juvo Energy is a power infrastructure company focused on development of “powered land” sites across the country. Juvo has a growing, active portfolio of over 6 GW. To learn more about Juvo, please visit: https://www.juvo-energy.com
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations regarding our future results of operations and financial position, business strategy, timing and likelihood of success, potential expansion of and additional bitcoin mining data centers, expectations regarding the operations of mining centers, and management plans and objectives, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 5, 2024, and in Cipher’s subsequent filings with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts: Investor Contact: Josh Kane Head of Investor Relations at Cipher Mining josh.kane@ciphermining.com
Media Contact: Ryan Dicovitsky / Kendal Till Dukas Linden Public Relations CipherMining@DLPR.com
Known for his confidence and ability to deliver under pressure, the former NFL quarterback and auto enthusiast is coaching today’s drivers in new digital campaign
BOSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) — CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today launched a new campaign with NFL legend Drew Brees focused on helping today’s drivers feel even more confident and prepared during the car buying and selling process. The “Keys to Success” campaign taps Brees—who is known for his ability to deliver under pressure both on and off the field—to empower all drivers in getting “game day-ready” to feel assured they’re getting the best deal and are in control through the car buying and selling process.
“CarGurus helps today’s shoppers get ready for their big moment by providing access to thorough vehicle information, the most extensive deal ratings, and the most new and used cars so you know you’re getting the best deal possible,” explained Brees. “So much of performing at a high level is about focusing on the process and having the tools that instill confidence so that by the time you step on the field—or into the dealership—you’re ready to make things happen.”
As one of the largest financial commitments today’s consumer can make, purchasing a car can be daunting for many. According to a recent CarGurus study2, many game-time decisions can erode a shopper’s confidence:
The top three factors that can cause someone to second-guess their car purchase are 1) Not being sure what makes for a fair price (39%); 2) Feeling rushed to make a decision (37%); and 3) The general stress of making such a big purchase/commitment (36%).
Nearly two-thirds (61%) of buyers said that negotiating a price is one of the most intimidating aspects of buying a car.
Mirroring the trend seen for car buying, 50% of respondents said the most intimidating aspect of selling or trading in a car was getting the most money.
“Known for his rigorous mental and physical preparation during his professional football career, Drew’s winning combination of steady confidence and rigorous research both on and off the field makes him the perfect confidence coach for today’s drivers, and a natural partner for CarGurus,” said Dafna Sarnoff, CarGurus Chief Marketing Officer. “Car shoppers can identify with Drew’s mindset of gathering the best information and tools available to feel confident that they are getting the best deals for their unique individual needs.”
The “Keys to Success” campaign will be featured on Instagram, TikTok, Facebook, YouTube, and other digital video placements. See here to learn more about the campaign.
About CarGurus, Inc.
CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S.1
CarGurus also operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. In the United States and the United Kingdom, CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands.
CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners.
1Similarweb: Traffic Insights (Cars.com, Autotrader.com, TrueCar.com), Q2 2024, U.S. 2Methodology: July 2024 survey of 1,501 U.S. licensed residents, 18+
Media Contact: Maggie Meluzio Director, Public Relations & External Communications pr@cargurus.com
MIAMI, Oct. 15, 2024 (GLOBE NEWSWIRE) — Luminar Media Group, Inc. (OTCMARKETS: LRGR), a leading fintech company providing capital and financial services to underserved businesses, is pleased to announce its forecast for continued strong growth in the fourth quarter of 2024.
After delivering impressive financial results for the third quarter of 2024, the company—through its subsidiaries FortunCo and Fortun Advance—continues to achieve exceptional performance. Fortun Advance, in particular, has exceeded projections and is expanding its financial presence, positioning itself for sustained success as it continues its growth trajectory.
July: $258,700, August: $389,700, September: $489,600, October (Projected): $550,000, November (Projected): $600,000, December (Projected): $650,000.
Fortun Advance continues its rapid growth trajectory, with Q4 funding projections indicating a 45% increase from Q3. This steady growth reflects the company’s expanding market presence and its ongoing commitment to increasing funding operations.
Business Performance Since Acquisition:
As of September 30, 2024, Fortun Advance’s total assets had grown to $1,926,507, which includes $498,226 in cash and $1,428,281 in receivables. This is a significant improvement since Luminar Media Group’s strategic acquisition of Fortun Advance in May 2024. As part of its strategic growth plan, LRGR has begun the process of working with its attorney to change its stock symbol and rebrand the company as Fortun Corp.
Market Insights:
Small businesses are a critical growth engine for the U.S. economy, generating over $800 billion annually. Recent data shows a significant increase in the number of small business owners, further highlighting their importance to economic growth and job creation.
Gianinna Nicoletti, Vice President of Operations for Fortun Advance, shared her thoughts on the company’s performance and future outlook:
“The momentum we’ve built in just a few short months highlights our strategic approach to supporting the small business community. Our tailored funding solutions have been instrumental in their success. Looking ahead to the final quarter of 2024 and into 2025, we are confident that strong market demand, combined with our commitment to innovation and exceptional customer service, will continue to drive Fortun’s growth.”
Yoel Damas, President, added: “Fortun has positioned itself as a crucial partner for small businesses, offering flexible, revenue-based funding solutions that are essential for their growth. With many entrepreneurs facing challenges in accessing traditional financing, Fortun’s commitment to providing accessible funding has strategically placed it in this underserved market.”
About Luminar Media Group, Inc.
Headquartered in Miami, Florida, Luminar Media Group, Inc. is a pioneering fintech company specializing in financial solutions for underserved communities, with a focus on Latino and minority-owned businesses. Leveraging innovative strategies and a commitment to excellence, Fortun empowers businesses to drive economic growth.
Forward-Looking Statements.
This release contains forward-looking statements that reflect Luminar Media Group’s current strategies and expectations for future performance. Actual results may differ materially due to various risks and uncertainties. Investors are encouraged to review the company’s filings with the SEC for further information.
The financial data presented in this release is subject to review by independent accountants and may be adjusted before final reporting. Please note that the information provided is preliminary and should not be considered final until it has undergone a full review.
LAS VEGAS, Oct. 15, 2024 (GLOBE NEWSWIRE) — Today at Oktane2024, Zscaler and Okta announced four new integrations designed to accelerate their mutual customers’ zero trust transformation. By delivering end-to-end, context-aware security, Okta and Zscaler are helping customers reduce risk, improve the user experience, and enable cross-domain response through shared telemetry and threat intelligence.
“The integrations announced today significantly deepen our collaboration with Okta and our commitment to keeping our customers secure,” said Amit Raikar, Vice President, Technology Alliances and Business Development, Zscaler. “Together, we are focused on helping customers strengthen their zero trust security posture in an increasingly complex risk environment, where rigorously managing user identities and enforcing adaptive access controls is more crucial than ever.”
“In the AI era, the only way to effectively protect customers is by rallying the security ecosystem. Point security solutions address individual areas but don’t integrate with one another, which increases complexity,” said Stephen Lee, vice president of Technical Strategy and Partnerships at Okta. “That’s why Okta and Zscaler have invested in deep integrations that accelerate the zero trust journey and elevate the security posture of our mutual customers worldwide.”
Organizations continue to navigate the complexities of securing the growing number of remote users, cloud applications, and hybrid IT environments. Both Zscaler and Okta are committed to delivering deep integrations that enhance secure access to cloud and web applications while minimizing user disruptions. Our newest integrations deliver:
Adaptive Access Policy Enforcement: The Zscaler Adaptive Access and Okta integration allows organizations to enforce context-based access policies that dynamically adjust based on the changing risk context of the user. These include password expiration, credential compromise, account recovery, or high-risk user behavior. Zscaler’s ingestion of Okta’s user risk telemetry expands upon an earlier integration, where Identity Threat Protection with Okta AI ingests risk telemetry from Zscaler Deception to respond to credential compromise or insider attacks. With the new integration, risk telemetry is exchanged bidirectionally between Okta and Zscaler, enhancing threat detection and response.
Dynamic Step-Up Authentication: The Zscaler Adaptive Access can trigger step-up authentication with Okta Workforce Identity Cloud (WIC) to add an extra layer of security when Zscaler detects higher-than-usual risky user behavior. In such scenarios, step-up authentication dynamically requires the user to comply with stronger forms of authentication before access to sensitive resources, such as Salesforce, is granted.
Security Data Contextualization and Unified Vulnerability Management: Zscaler’s Data Fabric for Security enriches and aggregates data from Okta logs with concurrent data streams to provide contextualized, real-time insights into vulnerabilities and exposures across the enterprise ecosystem. Easy to set up and configure, this solution provides a dynamic risk assessment of an organization via a simple dashboard to accelerate security remediation.
Zero Trust Partner Access: Zscaler’s Zero Trust Exchange cloud security platform, with natively integrated cloud browser isolation (CBI), enables secure, agentless access to web applications. It allows external third-party users and partners to instantly access corporate resources from their devices, while protecting enterprise applications and preventing data loss. Okta complements this by streamlining identity and access management (IAM) for IT administrators with Okta Universal Directory. This enables them to manage users and policies, automate app assignments, and onboard more securely and quickly.
For more information about this integration, please get a copy of the solution brief.
About Zscaler Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange™ is the world’s largest in-line cloud security platform.
Zscaler™ and the other trademarks listed athttps://www.zscaler.com/legal/trademarksare either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.
Forward-Looking Statements
This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include the expected benefits of the new integrations to Zscaler’s product offerings and to our customers. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. A significant number of factors could cause actual results to differ materially from statements made in this press release, including those factors related to our ability to successfully integrate these enhancements. Additional risks and uncertainties are set forth in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on September 12, 2024, which is available on our website at ir.zscaler.com and on the SEC’s website at http://www.sec.gov. Any forward-looking statements in this release are based on the limited information currently available to Zscaler as of the date hereof, which is subject to change, and Zscaler will not necessarily update the information, even if new information becomes available in the future.
About Okta
Okta is the World’s Identity Company. As the leading independent Identity partner, we free everyone to safely use any technology—anywhere, on any device or app. The most trusted brands trust Okta to enable secure access, authentication, and automation. With flexibility and neutrality at the core of our Okta Workforce Identity and Customer Identity Clouds, business leaders and developers can focus on innovation and accelerate digital transformation, thanks to customizable solutions and more than 7,000 pre-built integrations. We’re building a world where Identity belongs to you. Learn more at okta.com.
SALVADOR, Brazil, Oct. 15, 2024 (GLOBE NEWSWIRE) — SolarShare is redefining how the world invests in renewable energy by using blockchain technology to tokenize solar farms, enabling global access to clean energy projects. Individuals can now purchase solar panels as Non-Fungible Tokens (NFTs) and earn passive income from the sale of electricity generated by those panels.
With an impressive annual dividend projected from operational solar farms, SolarShare is making it easier than ever for people to participate in renewable energy investment while helping to decrease dependence on fossil fuels.
Operating three solar farms in Xique-Xique, Bahia, Brazil, SolarShare is expanding its reach with an ambitious growth plan. Tokenizing solar panels through NFTs gives people from all walks of life an opportunity to invest in and benefit from solar energy production. Investors receive income in USDT, a US dollar-pegged stablecoin generated by the sale of electricity from these farms.
“Our mission at SolarShare is to open up solar energy investment to everyone,” said William Campbell, CEO and Founder of SolarShare. “We’ve made it possible for anyone, regardless of where they live, to own a piece of solar energy and benefit from the returns it offers. Whether you’re in Asia, Europe, or North America, you can now contribute to a greener world and earn up to 25% annually.”
SolarShare’s first farm, Sunrise Solar Farm, is a 110kW facility in the sun-rich Xique-Xique region. It produces around 15,000 kWh per month using over 200 DAH Solar 555W Monocrystalline panels. Two additional farms, Sunny Valley and Helios Fields, contribute a combined output of 30,000 kWh, raising SolarShare’s total energy capacity to 45,000 kWh per month. These farms are just the beginning as the company continues to expand in regions with significant solar potential.
Throughout the year, each farm runs its operations, generating energy that is sold on the Brazilian energy market. The revenue generated from these sales is converted into USDT and distributed among NFT holders based on the investment tier they belong to. To ensure the integrity of operations, all farms are secured with warranties and insurance coverage to address any potential unforeseen circumstances.
SolarShare’s NFTs come in different tiers, representing varying levels of ownership. The smallest tier, a Solar Unit, is one-fifth of a solar panel, while the largest, Solar Planet, consists of 940 NFTs, equating to 188 solar panels, or a whole solar farm. Investors earn a percentage of the energy generated by these panels, with the staking of SolarShare’s native cryptocurrency, $SOLAR, enabling higher returns of up to 90% of a panel’s output.
“We’re giving people the power to invest in something that matters,” added Campbell. “It’s not just about financial returns; it’s about having a real stake in the future of clean energy.”
Brazil’s high solar irradiation has positioned the country as a major player in solar energy production, with a capacity that has grown from under 2GW in 2017 to over 35GW in 2024. As demand for renewable energy continues to rise, SolarShare presents a timely solution by making solar energy investments accessible on a global scale.
“Brazil’s solar potential is immense, and we’re excited to be at the frontline of this movement,” said Campbell. “Through our partnership with Versole Energia Solar, we’re delivering high-quality solar projects that not only provide financial returns but also help reduce carbon emissions. It’s a win for investors and for the planet.”
SolarShare’s model offers both financial and environmental benefits. Investors can expect annual returns of up to 25%, depending on energy prices and production levels. Meanwhile, the company’s commitment to sustainability ensures that funds are directed toward expanding solar energy capacity, helping to address the global climate crisis.
SolarShare has ambitious plans to expand its operations into new regions with greater solar potential. The company is currently exploring additional farms in Brazil, other Latin American countries, and even Saudi Arabia, aiming to reach a global audience.
“Solar energy is one of the most scalable solutions to the world’s growing energy needs,” Campbell said. “With support from our investors and partners, we’re committed to growing our platform and making SolarShare the go-to solution for solar energy investments.”
Investing in SolarShare is simple and open to anyone. Investors can visit the SolarShare platform, purchase an NFT representing solar panel ownership, and earn dividends from the energy generated. The platform’s intuitive dashboard lets users track their energy production, earnings, and environmental impact in real time.
SolarShare invites you to join the renewable energy revolution today. Purchase your Solar NFT, start earning, and contribute to a more sustainable future.
Together, we can harness the sun’s power and help save the planet.
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In case of any queries, please contact – SolarShare Support Marketing & Support Team Marketing@SolarShare.io
About SolarShare: SolarShare is a blockchain-powered platform that enables fractional ownership of real-world solar panels. By tokenising solar farms, SolarShare allows individuals to invest in clean energy projects and earn passive income. SolarShare is leading the charge in democratising access to renewable energy investments with a focus on transparency, sustainability, and community-driven growth.
Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
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