Wildlife officers are investigating multiple reported sightings of a crocodile on the beach and in the water at Coonarr Beach and Elliott River mouth in the Wide Bay region.
On 23 January 2025, the Department of the Environment, Tourism, Science and Innovation received five reports from community members of what they believed to be a crocodile.
Wildlife officers are reviewing a short video showing a crocodile entering the water from a beach.
Wildlife officer Alexander Peters said wildlife officers are contacting community members who made the sighting reports, and recent crocodile sighting signs will be installed in the area.
“We thank the members of the public who made these reports, and I can assure the community that they will be thoroughly investigated,” Mr Peters said.
“As part of our investigation, wildlife officers will conduct site assessments, including vessel-based searches and spotlight assessments of the area.
“While the investigation is underway, people in the Wide Bay region should be vigilant around the water, which means keeping children close and keeping dogs away from the water’s edge.
“I’d like to encourage everyone in the community to make a sighting report if they see what they believe to be a crocodile.
“When crocodiles are observed on a beach or in the ocean, they are often passing through from one estuary to another and can be difficult to locate.
“They can also move into a river or creek, and that’s why sighting reports are important as they give wildlife officers the most up to date information about the location and behaviour of crocodiles.
“Under the Queensland Crocodile Management Plan, the Wide Bay region is Zone F – atypical crocodile habitat, in which any crocodile found is targeted for removal.
“Crocodile sightings are rare in Zone F, but occasionally crocodiles considered to be vagrant animals make their way into these areas.
“I can reassure the community that any crocodile confirmed to be present in the Wide Bay region will be targeted for removal from the wild.”
Fast facts:
In 2013 and 2014, two large crocodiles were removed from the Mary River.
They remain the last estuarine crocodiles confirmed outside of Croc Country near the southern end of their range.
Croc Country begins at the Boyne River south of Gladstone.
It extends northward, up the east coast and across far north and northwest Queensland to the Northern Territory border.
The Law Library of Congress recently published a multinational report, Access to Information for Persons with Disabilities in Selected Jurisdictions, which provides individual surveys of selected jurisdictions and gives an overview of their legislation on access to information for persons with disabilities. Providing access constitutes one of the human rights protections specifically guaranteed under article 21 of the UN Convention on the Rights of Persons with Disabilities (CRPD).
Our research surveyed 27 jurisdictions, namely, Brazil, Canada, China, Colombia, Congo (Democratic Republic), Denmark, Egypt, El Salvador, England, France, Germany, India, Israel, Italy, Japan, Kenya, Malta, New Zealand, Norway, Portugal, Russia, Saint Vincent and the Grenadines, Saudi Arabia, South Korea, Spain, Switzerland, and Taiwan.
This report surveys how the rights of persons with disabilities are protected, notably, if a jurisdiction’s constitution expressly protects persons with disabilities. It further describes the rights to information, in particular legal information, access to justice, and culture, and includes current legislative proposals as they concern persons with disabilities. The report also surveys which jurisdictions offer publicly funded libraries that specifically serve the blind and visually impaired.
A majority of the jurisdictions surveyed are parties to the Marrakesh Treaty to Facilitate Access to Published Works for Persons Who Are Blind, Visually Impaired or Otherwise Print Disabled and the jurisdictions have adopted legislation and procedures to make convenience copies of copyrighted material available to persons with disabilities. Several jurisdictions are also part of networks facilitating such access, such as the Accessible Books Consortium, or provide access to Bookshare.
The report is accompanied by maps and a table of primary resources. The maps reflect our findings on surveyed jurisdictions with the first map describing whether jurisdictions expressly protect persons with disabilities in their constitutions. The second map illustrates whether the jurisdiction has specific legislation that addresses access to information for persons with disabilities. Additional maps show which countries have ratified the Marrakesh Treaty and what countries have designated “NLS-style” libraries, specifically mandated to provide access and services to persons with disabilities.
The report supported the Law Library’s Human Rights Day Webinar on Laws Governing Accessibility from Around the World.
We invite you to review our report, here.
The report is an addition to the Law Library’s Legal Reports (Publications of the Law Library of Congress) collection, which includes over 4,000 historical and contemporary legal reports covering a variety of jurisdictions, researched and written by foreign law specialists with expertise in each area. To receive alerts when new reports are published, you can subscribe to email updates for Law Library Reports (click the “subscribe” button on the Law Library’s website). The Law Library also regularly publishes articles related to human rights and civil liberties in the Global Legal Monitor.
Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.
A man has been charged and will appear in court following a fatal collision in Northolt.
Kamil Rouibah – 25 (14.02.99) of Squirrel Rise, Marlow Bottom will appear in custody at Uxbridge Magistrate Court on 28 January charged with causing death by dangerous driving; causing serious injury by dangerous driving and failing to stop for police.
A second man, aged 25, who was arrested following the collision has been released with no further action.
This follows an incident at around 04:40hrs on Monday, 27 January when a BMW car came to the notice of a patrolling police car due to the alleged speed at which it was traveling.
A short time later the BMW was involved in a collision with another vehicle, a Ford Focus, being driven by a member of the public in Ruislip Road.
London Ambulance Service and London Fire Brigade were called and attended.
Sadly the driver of the Ford Focus, a man aged 47, died at the scene. His next of kin have been informed and are being supported by specially trained officers.
Two occupants of the BMW were taken to hospital for treatment before being discharged. They were arrested and dealt with as above.
Source: Hong Kong Government special administrative region
CHP receives three severe cases of influenza A infection in one day CHP receives three severe cases of influenza A infection in one day *******************************************************************
Following a severe case of influenza A infection in a 10-month-old baby girl who had not received seasonal influenza vaccination (SIV) yesterday (January 27), the Centre for Health Protection (CHP) of the Department of Health (DH) today (January 28) received two more cases of severe paediatric influenza A infection in children who have not yet received the SIV. Another severe paediatric case of co-infection with influenza A and group A streptococcus was also reported. The first case involved a six-year-old boy with good past health, who developed fever on January 26. He attended the Union Hospital yesterday and was later transferred to Prince of Wales Hospital, where he remains in the paediatric intensive care unit. His nasopharyngeal swab specimen tested positive for influenza A (H1) virus upon laboratory testing. The clinical diagnosis was influenza A infection complicated with shock. So far, his household contacts show no upper respiratory symptom and there has been no recent influenza outbreak at his school. The second case involved a twelve-year-old boy with underlying illness who developed fever and cough yesterday. He was admitted to Tuen Mun Hospital today, where he remains in the paediatric intensive care unit. His nasopharyngeal swab specimen tested positive for influenza A (H3) virus upon laboratory testing. The clinical diagnosis was influenza A infection complicated with severe pneumonia and shock. He lives in a school dormitory and seven other students from the same school have recently developed upper respiratory symptoms. The CHP had conducted inspection at the school and provided health advice. “The above-mentioned two boys had no travel history during the incubation period. An initial investigation revealed that they did not receive 2024/25 SIV. The CHP reiterated its call to the parents to bring their children to receive SIV as soon as possible,” a spokesman for the CHP said. Furthermore, an eight-year-old boy with good past health developed fever since January 23, and cough and shortness of breath since yesterday. He was admitted to the Princess Margaret Hospital on the same day, where he remains in the paediatric intensive care unit. His nasopharyngeal swab specimen tested positive for influenza A (H1) virus and his blood sample tested positive for group A streptococcus. The clinical diagnosis was co-infection with influenza A and group A streptococcus complicated with sepsis. “Since the start of this influenza season in early January, the CHP has recorded eight cases (including three above-mentioned children) of severe influenza virus infection in children. Six of them were unvaccinated. Influenza vaccination has been scientifically proven to be one of the most effective ways to prevent seasonal influenza and its complications, while significantly reducing the risk of hospitalisation and death from seasonal influenza. All persons aged 6 months and above (except those with known contraindications) who have not yet received SIV should act immediately, particularly the elderly and children who have a higher risk of becoming infected with influenza and developing complications,” he added. Group A streptococcal infection is caused by bacteria, namely Streptococcus pyogenes, that can be found in the throat and on the skin. It can be transmitted by droplets and contact. The bacteria can cause mild diseases, including pharyngitis, impetigo and scarlet fever to invasive group A streptococcal infections (iGAS) such as necrotising fasciitis and streptococcal toxic shock syndrome. Anyone can get iGAS disease, but the elderly and young children, persons with chronic illnesses (e.g. diabetes) or immunocompromised persons may be at higher risk. People with breaks in the skin or with recent viral infections (e.g. chickenpox, influenza, etc.) are also at higher risk of developing iGAS disease. On the other hand, the disease can be effectively treated with antibiotics and prompt treatment helps alleviate symptoms faster and prevent complications. The spokesman reminded the public that Hong Kong has entered the influenza season. As the seasonal influenza activity is expected to increase further while the activity of other respiratory infectious diseases may also increase. To protect their health and that of their family members, the public should not only receive SIV, but also maintain good personal and environmental hygiene, and take the following measures to prevent contacting influenza, Group A streptococcal infection and other respiratory illnesses:
Wear surgical masks to prevent transmission of respiratory viruses from ill persons. It is essential for persons who are symptomatic (even if having mild symptoms) to wear a surgical mask; High-risk persons (e.g. persons with underlying medical conditions or persons who are immunocompromised) should wear surgical masks when visiting public places. The general public should also wear a surgical mask when taking public transport or staying in crowded places. It is important to wear a mask properly, including performing hand hygiene before wearing and after removing a mask; Avoid touching one’s eyes, mouth and nose; Practise hand hygiene frequently, wash hands with liquid soap and water properly whenever possibly contaminated; When hands are not visibly soiled, clean them with 70 to 80 per cent alcohol-based handrub; Cover the mouth and nose with tissue paper when sneezing or coughing. Dispose of soiled tissue paper properly into a lidded rubbish bin, and wash hands thoroughly afterwards; Practise good wound care to reduce the chance of getting infected; Maintain good indoor ventilation; Avoid sharing personal items; When having respiratory symptoms, wear a surgical mask, consider to refrain from going to work or school, avoid going to crowded places and seek medical advice promptly; and Maintain a balanced diet, perform physical activity regularly, take adequate rest, do not smoke and avoid overstress.
???For the latest information, members of the public can visit the CHP’s group A streptococcal infection and seasonal influenza webpages.
Source: Organization for Security and Co-operation in Europe – OSCE
Headline: OSCE PCUz supports the seventh edition of the “Open Data Challenge” hackathon
Contestants and organizers of the seventh “Open Data Challenge” hackathon. (OSCE/IT Park Uzbekistan) Photo details
From 24 to 26 January, IT enthusiasts gathered at the New Uzbekistan University in Tashkent for the seventh edition of the “Open Data Challenge” hackathon.
This annual competition was organized by the OSCE Project Co-ordinator in Uzbekistan (PCUz) together with IT-Park Uzbekistan and the Statistics Agency of the Republic of Uzbekistan.
More than 150 young people gathered in teams and competed to develop technological solutions based on the data opened by public authorities. Out of 60 registered teams, 8 made it to the final, with the top three teams producing projects ranging from a platform designed to analyze tenders from the open data platform etender.uzex.uz, a startup that uses artificial intelligence for people with disabilities and a chatbot for analyzing data in real time using open data.
This popular event offers a unique opportunity to further demonstrate the practical relevance and applicability of open data while engaging youth in proposing solutions to current challenges.
Open data plays an important role in the monitoring and evaluation of state bodies’ activities. In addition to strengthening public control and its anti-corruption component, the publication of data has a direct economic impact and a hugely untapped social potential.
Through the development of new services and products that offer responses to known problems or gaps, new jobs are created, and the IT community is strengthened.
Taking into account the multifaceted aspect of data, the development of an open data ecosystem in Uzbekistan is an integral part of the PCUz’ activities to promote economic development, as well as good governance.
OXFORD, United Kingdom, Jan. 28, 2025 (GLOBE NEWSWIRE) — Sophos, a global leader of innovative security solutions for defeating cyberattacks today released a new report, “Beyond the Hype: The Businesses Reality of AI for Cybersecurity,” which surveyed 400 IT leaders on their use of AI in security. The survey found that, despite 65% having adopted generative artificial intelligence (GenAI capabilities) 89% of IT leaders are concerned that flaws in GenAI cybersecurity tools could put their organization at risk.
Additionally, according to new Sophos X-Ops research, “Cybercriminals Still Not Getting on Board the AI Train (Yet),” also released today, there has been a slight but noteworthy shift in the way cybercriminals use AI. After investigating several underground forums, Sophos X-Ops found that, while there’s still skepticism about GenAI, some criminals are using it to automate mundane tasks, such as crafting bulk emails and analyzing data. Others are incorporating it into spam and social engineering toolkits.
“As with many other things in life, the mantra should be ‘trust but verify’ regarding generative AI tools. We have not actually taught the machines to think; we have simply provided them the context to speed up the processing of large quantities of data,” said Chester Wisniewski, director, global field CTO, Sophos. “The potential of these tools to accelerate security workloads is amazing, but it still requires the context and comprehension of their human overseers for this benefit to be realized.”
With some form of AI embedded in the cybersecurity infrastructure of 98% of organizations surveyed, IT leaders expressed concern about potential over-reliance on AI, with 87% of respondents stating they were concerned about a resulting lack of cybersecurity accountability.
GenAI and Reducing Burnout
Different-sized organizations expressed different priorities for utilizing GenAI. While large organizations (those with more than 1,000 employees) are prioritizing improved protection, respondents with 50-99 employees rated reducing burnout as their top desired benefit from GenAI tools. However, complicating matters, across all sizes of organizations, 84% of leaders surveyed said they were concerned about pressure to reduce cybersecurity professional headcount due to unrealistic expectations about AI’s abilities to replace human operators.
Other Key Findings from the “Beyond the Hype” Report:
Costs of GenAI Are Hard to Quantify: 75% of IT leaders agree that the costs of GenAI in cybersecurity products are hard to quantify.
Companies Are Counting on Savings from GenAI: While 80% of IT leaders believe that GenAI will significantly increase the cost of cybersecurity tools, most organizations believe GenAI offers a path to lowering overall cybersecurity expenditure with 87% of respondents believing the savings of GenAI will offset the costs.
About Sophos Sophos is a global leader and innovator of advanced security solutions for defeating cyberattacks, including Managed Detection and Response (MDR) and incident response services and a broad portfolio of endpoint, network, email, and cloud security technologies. As one of the largest pure-play cybersecurity providers, Sophos defends more than 600,000 organizations and more than 100 million users worldwide from active adversaries, ransomware, phishing, malware, and more. Sophos’ services and products connect through the Sophos Central management console and are powered by Sophos X-Ops, the company’s cross-domain threat intelligence unit. Sophos X-Ops intelligence optimizes the entire Sophos Adaptive Cybersecurity Ecosystem, which includes a centralized data lake that leverages a rich set of open APIs available to customers, partners, developers, and other cybersecurity and information technology vendors. Sophos provides cybersecurity-as-a-service to organizations needing fully managed security solutions. Customers can also manage their cybersecurity directly with Sophos’ security operations platform or use a hybrid approach by supplementing their in-house teams with Sophos’ services, including threat hunting and remediation. Sophos sells through reseller partners and managed service providers (MSPs) worldwide. Sophos is headquartered in Oxford, U.K. More information is available at www.sophos.com.
Reaffirms Commitment to Acquiring Beacon for $124.25 per Share in Cash
All-Cash Offer Provides Significant and Immediate Value to Beacon Shareholders
GREENWICH, Conn., Jan. 28, 2025 (GLOBE NEWSWIRE) — QXO, Inc. (NYSE: QXO) today commented on Beacon Roofing Supply, Inc.’s (Nasdaq: BECN) adoption of a shareholder rights plan, which takes immediate effect and is aimed at blocking QXO’s all-cash tender offer to acquire all outstanding shares of Beacon for $124.25 per share.
“We launched our all-cash tender offer to ensure that Beacon’s shareholders can take advantage of our compelling offer and get paid quickly. We have committed financing, have no due diligence condition and anticipate a smooth regulatory approval process to close,” said Brad Jacobs, chairman and chief executive officer of QXO. “The only thing stopping shareholders from acting to get cash expeditiously is the decision by Beacon’s Board to adopt a poison pill. We are prepared to take all necessary steps to complete this transaction promptly and deliver significant and immediate value to Beacon shareholders.”
QXO’s $124.25 per share offer represents a 37% premium to Beacon’s 90-day unaffected volume-weighted average price of $91.02 per share as of November 15, 2024, and a 26% premium to the $98.75 price before its proposal became public.
QXO’s tender offer will be outstanding until 12:00 midnight, New York City time, at the end of February 24, 2025, and it is prepared to complete the acquisition shortly after the tender expires, in approximately one month. The transaction is not subject to any financing conditions or due diligence conditions, and QXO expects that the waiting periods under the Hart-Scott-Rodino Act and the Canadian Competition Act will have expired or been waived by the time the tender offer expires.
Morgan Stanley & Co. LLC is acting as financial advisor to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.
About QXO
QXO provides technology solutions, primarily to clients in the manufacturing, distribution and service sectors. The company provides consulting and professional services, including specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications. QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.
Forward-Looking Statements
The communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval timing and nominating directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Such factors include but are not limited to: the ultimate outcome of any possible transaction between QXO and Beacon including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those proposed; uncertainties as to whether Beacon will cooperate with QXO regarding the proposed transaction; the ultimate result should QXO’s commence a proxy contest for election of directors to Beacon’s board of directors; QXO’s ability to consummate the proposed transaction with Beacon; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; QXO’s ability to finance the proposed transaction; QXO’s indebtedness, including the substantial indebtedness QXO expects to incur in connection with the proposed transaction with Beacon and the need to generate sufficient cash flows to service and repay such debt; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees may be difficult; and general economic conditions that are less favorable than expected. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not assume any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.
Important Additional Information and Where to Find It
This communication is for informational purposes only and does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell Beacon securities. QXO and Queen MergerCo, Inc. (the “Purchaser”) filed a Tender Offer Statement on Schedule TO with the SEC on [DATE], 2025, and Beacon will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC. Investors and security holders are urged to read the Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as each may be amended or supplemented from time to time) and the Solicitation/Recommendation Statement, when available, carefully since they contain important information that investors and security holders should consider before making any decision regarding tendering their common stock, including the terms and conditions of the tender offer. The Tender Offer Statement, Offer to Purchase, Solicitation/Recommendation Statement and related materials are filed with the SEC, and investors and security holders may obtain a free copy of these materials and other documents filed by QXO and Beacon with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that QXO and the Purchaser file with the SEC will be made available to all investors and security holders of Beacon free of charge from the information agent for the tender offer. The information agent for the tender offer is Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, Toll-free telephone: +1 (888) 750-5834.
QXO and the other participants intend to file a preliminary proxy statement and accompanying WHITE universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 annual meeting of stockholders of Beacon. QXO strongly advises all stockholders of Beacon to read the preliminary proxy statement, any amendments or supplements to such proxy statement, and other proxy materials filed by QXO with the SEC as they become available because they will contain important information. Such proxy materials will be available at no charge on the SEC’s website at www.sec.gov and at QXO’s website at investors.qxo.com. In addition, the participants in this proxy solicitation will provide copies of the proxy statement, and other relevant documents, without charge, when available, upon request. Requests for copies should be directed to the participants’ proxy solicitor.
Certain Information Concerning the Participants
The participants in the proxy solicitation are anticipated to be QXO, Brad Jacobs, Ihsan Essaid, Matt Fassler, Mark Manduca and the individuals nominated by QXO (the “QXO Nominees”). QXO expects to determine and announce the QXO Nominees prior to the nomination deadline for the 2025 annual meeting of stockholders of Beacon. As of the issuance of this communication, other than QXO, which beneficially owns 100 shares of Beacon common stock, none of the participants that have been identified beneficially own any shares of Beacon common stock.
After lengthy, torrid and emotional debate a critical decision for the future of Auckland Tāmaki Makaurau is being made in March. One party will celebrate; the other will slink back to the drawing board. But will it really settle the great Auckland stadium debate?
SPECIAL REPORT:By Chris Schulz
It resembles a building from Blade Runner. It looks like somewhere the Avengers might assemble. It is, believes Paul Nisbet, the future.
“It’s innovative, it’s groundbreaking, it’s something different,” says the driving force behind Te Tōangaroa, a new stadium mooted for downtown Auckland.
He has spent 13 years dreaming up this moon shot, and it shows. “We have an opportunity here to deliver something special for the country.”
Located behind Spark Arena, Te Tōangaroa — also called “Quay Park” — is Nisbet’s big gamble, the stadium he believes Tāmaki Makaurau needs to sustain the city’s live sport and entertainment demands for the next 100 years.
His is a concept as grand as it gets, a U-shaped dream with winged rooftops that will sweep around fans sitting in the stands, each getting unimpeded views out over the Waitematā Harbour and Rangitoto Island.
Located behind Spark Arena, Te Tōangaroa is also called “Quay Park”. Image: Te Tōangaroa
Nisbet calls his vision a “gateway for the world,” a structure so grand he believes it would attract the biggest sports teams, stars and sponsors to Aotearoa while offering visitors a must-see tourist destination. Nestled alongside residential areas, commercial zones and an All Blacks-themed hotel, designs show a retractable roof protecting 55,000 punters from the elements and a sky turret towering over neighbouring buildings.
He’s gone all in on this. Nisbet’s quit his job, assembled a consortium of experts — called Cenfield MXD — and attracted financial backers to turn his vision into a reality. It is, Nisbet believes, the culmination of his 30-year career working in major stadiums, including 11 years as director of Auckland Stadiums.
“I’ve had the chance to travel extensively,” he says. “I’ve been to over 50 stadiums around the world.”
Tāmaki Makaurau, he says, needs Te Tōangaroa — urgently. If approved, it will be built over an ageing commercial space and an unused railway yard sitting behind Spark Arena, what Nisbet calls “a dirty old brownfields location that’s sapping the economic viability out of the city”.
He calls it a “regeneration” project. “You couldn’t mistake you’re in Auckland, or New Zealand, when you see images of it,” he says.
The All Blacks are on board, says Nisbet, and they want Te Tōangaroa built by 2029 in time for a Lions tour. (The All Blacks didn’t respond to a request for comment, but former players John Kirwan and Sean Fitzpatrick have backed the team moving to Te Tōangaroa.)
Concert promoters are on board too, says Nisbet. He believes Te Tōangaroa would end the Taylor Swift debacle that’s seen her and many major acts skip us in favour of touring Australian stadiums.
“It will be one of those special places that international acts just have to play,” he says.
The problem? Nisbet’s made a gamble that may not pay off. In March, a decision is due to be made about the city’s stadium future. Building Te Tōangaroa, with an estimated construction time of six years and a budget of $1 billion, is just one option.
The other, Eden Park, has 125 years of history, a long-standing All Blacks record and a huge number of supporters behind it — as well as a CEO willing to do anything to win.
The stadium standing in Te Tōangaroa’s way Stand in Eden Park’s foyer for a few minutes and history will smack you in the face. It’s there in the photos framed on the wall from a 1937 All Blacks test match. It’s sitting in Anton Oliver’s rugby boots from 2001, presumably fumigated and placed inside a glass case.
More recent history is on display too, with floor-to-ceiling photographs showing off concerts headlined by by Ed Sheeran and Six60, a pivot only possible since 2021.
Soon, the man in charge of all of this arrives. “Very few people have seen this space,” says Nick Sautner, the Eden Park CEO who shakes my hand, pulls me down a hallway and invites me into a secret room in the bowels of Eden Park. With gleaming wood panels, leather couches and top-shelf liquor, Sautner’s proud of his hidden bar.
“It’s invite-only . . . a VIP experience,” says Sautner, whose Australian accent remains easily identifiable despite seven years at the helm of Eden Park.
The future of Eden Park if a refurb is granted. Image: YouTube
This bar, he says, is just one of the many innovations Eden Park has undertaken in recent years. Built in 1900, the Mt Eden stadium remains the home of the All Blacks — but Eden Park is no longer considered a specialty sports venue.
Up to 70 percent of the stadium’s revenue now comes from non-sporting activities, Sautner confirms. You can golf, abseil onto the rooftops and stay the night in dedicated glamping venues. It’s also become promoters’ choice for major concerts, with Coldplay and Luke Combs recently hosting multiple shows there. “We will consider any innovation you can imagine,” Sautner tells me. “We’re a blank canvas.”
Throughout our interview, Sautner refers to Eden Park as the “national stadium”. He’s upbeat and on form, rattling off statistics and renovations from memory. His social media feeds — especially LinkedIn — are full of posts promoting the stadium’s achievements. He’ll pick up the phone to anyone who will talk to him.
“Whatsapp is the best way of contacting me,” he says. Residents have his number and can call directly with complaints. After our interview, Sautner passes me his business card then follows it up with an email making sure I have everything I need. “My phone’s always on,” he assures me.
He may not admit it, but Sautner’s doing all of this in an attempt to get ahead of what’s shaping up as the biggest crisis of Eden Park’s 125 years. If Te Tōangaroa is chosen in March, Eden Park — as well as Albany’s North Harbour Stadium and Onehunga’s Go Media Stadium – will all take a back seat.
If Eden Park loses the All Blacks and their 31-year unbeaten record, then there’s no other word for it: the threat is existential.
Called Eden Park 2.1, Sautner is promoting a three-stage renovation plan. Image: YouTube
Ask Sautner if he’s losing sleep over his stadium’s future and he shakes his head. To him, Te Tōangaroa’s numbers don’t stack up. “If someone can make the business model work for an alternative stadium in Auckland, I’m all for activating the waterfront,” he says.
Then he poses a series of questions: “How many events a year would a downtown stadium hold? Forty-five?” he asks. “So 320 other days a year, what’s going to be in that stadium?”
He is, of course, biased. But Sautner believes upgrading Eden Park is the right move. Called Eden Park 2.1, Sautner is promoting a three-stage renovation plan that includes building a $100 million retractable rooftop. A new North Stand would lift Eden Park’s capacity to 70,000, and improved function facilities and a pedestrian bridge would turn the venue into “a fortress . . . capable of hosting every event”.
He’s veering into corporate speak, but Sautner sees the vision clearly. With his annual concert consent recently raised from six to 12 shows, he already thinks he’s got it in the bag, “Eden Park has the land, it has the consent, it has the community, it has the infrastructure,” he says. “I’m very confident Eden Park is going to be here for another 100 years.”
Instead of a drink, Sautner offers RNZ a personal stadium tour that takes us through the exact same doors that open when the All Blacks emerge onto the hallowed turf. There, blinking in the sunlight, Sautner sweeps his arms around the stadium and grins. “I get up every day and I think of my family,” he says. “Then I think, ‘How can I make Eden Park better?”
The stadium debate: ‘It began when the dinosaurs died out’ It is, says Shane Henderson, an argument for the ages. It never seems to quit. How long have Aucklanders been feuding about stadiums? “It began when the dinosaurs died out,” jokes Henderson.
For the past year, he’s been chairing a working group that will make the decision on Auckland’s stadium future. That group whittled four options down to the current two, eliminating a sunken waterfront stadium, and another based in Silo Park.
He’s doing this because Wayne Brown asked him to. “The mayor said, ‘We need to say to the public, ‘This is our preferred option for a stadium for the city.’” It’s taken over Henderson’s life. Every summer barbecue has turned into a forum for people to share their views.
“People say, “Why don’t you do this?’” he says. Henderson won’t be drawn on which way he’s leaning ahead of March’s decision, but he’s well aware of the stakes. “We’re talking about the future of our city for generations to come,” he says. “It’s natural feelings are going to run high.”
That’s true. As I researched this story, the main parties engaged in a back-and-forth discussion that became increasingly heated. Jim Doyle, from Te Tōangaroa’s Cenfield MXD team, described Eden Park’s situation as desperate.
“Eden Park can’t fund itself . . . it’s got no money, it’s costing ratepayers,” he said. Doyle alleged the stadium “wouldn’t be fit for purpose”. “You’re going to have to spend probably close to $1 billion to upgrade it.” Asked what should happen to Eden Park should the decision go Te Tōangaroa’s way, Doyle shrugged his shoulders. “Turn it into a retirement village.”
Eden Park’s Sautner immediately struck back. Yes, he admits Eden Park owes $40 million to Auckland Council, calling that debt a “legacy left over from the Rugby World Cup 2011”. But he denied most of the consortium’s claims.
“Eden Park does not receive any funding or subsidies from Auckland ratepayers,” Sautner said in a written statement. He confirmed renovations had already begun. “Over the past three years, the Trust has invested more than $30 million to enhance infrastructure and upgrade facilities . . . creating flexible spaces to meet evolving market demands.”
Sautner said Doyle’s statement was evidence of his team’s inexperience. “We are extremely disappointed that comments of this nature have been made,” he said. “They are factually incorrect and highlight Quay Park consortium’s lack of understanding of stadium economics.”
Do we even need to do this? As the stadium debate turns into a showdown, major stars continue to skip Aotearoa in favour of huge Australian shows, with Katy Perry, Kylie Minogue and Oasis all giving us a miss this year. New Zealand music fans are reluctantly spending large sums on flights and accommodation if they want to see them. Until Metallica arrives in November, there are no stadium shows booked; just three of Eden Park’s 12 allotted concert slots are taken this year.
Yet, Auckland City councillors will soon study feasibility reports being submitted by both stadium options.
On March 24, Henderson, the working group chair, says councillors will come together to “thrash it out” and vote for their preferred option. There will only be one winner, and The New Zealand Herald reports either building Te Tōangaroa or Eden Park 2.1 is likely to cost more than $1 billion. Either we’re spending that on a brand new waterfront stadium, or we’re upgrading an old one.
“Is that the best use of that money?” asks David Benge. The managing director for events company TEG Live doesn’t believe Tāmaki Makaurau needs another stadium because it’s barely using those it already has. He has questions.
“I understand the excitement around a shiny new toy, but to what end?” he asks. “Can Auckland sustain a show at Go Media Stadium, a show at Western Springs, a show at Eden Park, and a show at this new stadium on the same night — or even in the same week?”
Benge doesn’t believe Te Tōangaroa would entice more artists to play here either. “I’m yet to meet an artist who’s going to be swayed by how iconic a venue is,” he says. Bigger problems include the size of our population and the strength of our dollar.
No matter the venue, “you’re still incurring the same expenses to produce the show,” he says. Instead, he suggests Pōneke as the next city needing a new venue. “If you could wave a magic wand and invest in a 10,000-12,000-capacity indoor arena in Wellington, that would be fantastic,” he says.
Would a new stadium really lure big artists to NZ? Image: Te Tōangaroa
Live Nation, the touring juggernaut that hosts most of the country’s stadium shows, didn’t respond to a request for comment. Other promoters canvassed by RNZ offered mixed views. Some wanted a new stadium, while others wanted a refurbished one. Every single one of them said that any new stadium needed to be built with concerts — not sport — in mind.
“We’re fitting a square peg in a round hole,” one said about the production costs involved in trucking temporary stages into Eden Park or Go Media Stadium. “Turf replacement can add hundreds of thousands — if not $1 million — to your bottom line,” said another.
Some wanted something else entirely. Veteran promoter Campbell Smith pointed out Auckland Council is seeking input for a potential redevelopment of Western Springs. One mooted option is turning it into a home ground for the rapidly rising football club Auckland FC. Smith doesn’t agree with that. “I think it’s a really attractive option for music and festivals,” he says. “It’s got a large footprint, it’s easily accessible, it’s close to the city … It would be a travesty if it was developed entirely for sport.”
One thing is for certain: a decision on this lengthy, torrid and emotional topic is being made in March. One party will celebrate; the other will slink back to the drawing board. Will it finally end the great Auckland stadium debate? That’s a question that seems easier to answer than any of the others.
Chris Schulz is a freelance entertainment journalist and author of the industry newsletter, Boiler Room. This article was first published by RNZ and is republished with the author’s permission.Asia Pacific Report has a community partnership agreement with RNZ.
Act will ban the importing, exporting and dealing in items containing ivory from Hippopotamus, narwhal, killer and sperm whale
Hippopotamus, narwhal, killer whale and sperm whale will have greater legal protection from today (28 January) under the UK’s world leading Ivory Act.
The Act will now ban the importing, exporting and dealing in items containing ivory from these magnificent animals – previously the Ivory Act only covered elephants.
The Ivory Act provides for one of the toughest bans on ivory sales in the world and anyone found guilty of breaching the ban faces tough penalties including an unlimited fine or up to five years in jail.
Closing domestic ivory markets is a critical part of the UK’s global conservation efforts. Hippopotamus is the species most at extinction risk from the trade in its ivory after elephants.
All four species are listed under the Convention on International Trade in Endangered Species of Fauna and Flora (CITES) and already threatened by climate change with poaching and trading in their ivory – which is found in teeth and tusks – having the potential to exacerbate these threats and make their long-term survival less likely.
Mary Creagh, International Nature Minister, said:
“Today is an important moment for all wildlife lovers. The poaching of these wonderful animals for their ivory is sickening and this government will do all we can to end this horrible trade.
“The Ivory Act is one of the toughest bans in the world. This new government is showing global leadership by enshrining these protections into law to tackle the poaching of these iconic animals.”
The UK is a world leader in international conservation. Supported by ambitious domestic action and new international partnerships, we are putting climate and nature at the heart of our foreign policy including appointing a new International Nature Envoy.
Working with partners across the world we are building global ambition on nature and pushing to accelerate delivery of the UN Global Biodiversity Framework to halt the loss and reverse of wildlife internationally.
The ban is being introduced after extensive consultation and provides a limited exemption for the existing trade in artistic and cultural artefacts.
Source: The White House
RESINSTATING THE UNJUSTLY DISCHARGED: Today, President Donald J. Trump signed an Executive Order to reinstate service members who were dismissed for refusing the COVID vaccine, with full back pay and benefits.
The Executive Order directs the Secretary of Defense to reinstate all members of the military (active and reserve) who were discharged for refusing the COVID vaccine and who request to be reinstated.
Those who are reinstated will receive their former rank and full back pay with benefits.
CORRECTING AN INJUSTICE: In spite of the scientific evidence, the Biden Administration discharged healthy service members—many of whom had natural immunity and dedicated their entire lives to serving our country—for refusing the COVID vaccine. Government redress of these wrongful dismissals is overdue.
From 2021 to 2023, the Biden Administration and former Secretary of Defense Lloyd Austin discharged over 8,000 troops solely due to their COVID-19 vaccination status.
Such dismissals likely had a chilling effect on recruitment, with the Department of Defense missing its collective recruiting targets by around 41,000 recruits in FY2023.
After the vaccine mandate was repealed in 2023, only 43 of the more than the 8,000 troops dismissed elected to return to service under the Biden Administration and Secretary Austin.
CHARTING A NEW COURSE FORWARD: In 2024, President Trump declared that “there should have never been a [COVID vaccine] mandate. That should have never happened.”
President Trump went on to lament that, due to the mandate, “we’ve lost some of our best people in the military too.”
President Trump duly promised in 2024 that he “will rehire every patriot who was fired from the military with…backpay. They will get their backpay…”
Source: The White House
DEFEND THE UNITED STATES AGAINST MISSILE ATTACK: Today, President Donald J. Trump signed an Executive Order to Build the Iron Dome for America.
The Executive Order directs implementation of a next-generation missile defense shield for the United States against ballistic, hypersonic, advanced cruise missiles, and other next-generation aerial attacks.
With the goal of providing for the common defense of American citizens, this Order accelerates the development and deployment of Hypersonic and Ballistic Tracking Space Sensor Layers, proliferated space-based interceptors, a Proliferated Warfighter Space Architecture, capabilities to defeat salvoes prior to launch, non-kinetic missile defense capabilities, and underlayer and terminal-phase intercept capabilities.
It also secures the supply chains for all components of the Iron Dome.
The Executive Order directs a review of theater missile defense posture to defend United States troops deployed abroad and an increase in cooperation on missile defense technology development, capabilities, and operations with partners and allies.
ADDRESSING VULNERABILITIES BY MODERNIZING AN OUTDATED SYSTEM:
The threat of attack by ballistic, cruise, and hypersonic missiles remains a catastrophic threat facing the United States.
Over the past 40 years, rather than lessening, the threat from next-generation strategic weapons—including hypersonic—has become more complex with the development of next-generation delivery systems by our adversaries.
Notwithstanding this increasing threat, United States homeland missile defense policy has been limited to staying ahead of rogue nation threats and accidental or unauthorized missile launches.
THE IRON DOME WILL FURTHER THE GOALS OF PEACE THROUGH STRENGTH: By empowering the United States with a second-strike capability, the Iron Dome will deter adversaries from attacks on the homeland.
President Trump is fulfilling his promises: “I will direct our military to begin construction of the great Iron Dome missile defense shield, which will be made all in the USA.”
Source: The White House
ELIMINATING RACE- AND SEX-BASED DISCRIMINATION WITHIN THE ARMED FORCES: Today, President Donald J. Trump signed an Executive Order to restore merit and lethality to America’s fighting force.
The Executive Order bans the use of discriminatory race- or sex-based preferences by any element of the Armed Forces, the Department of Defense, or the Department of Homeland Security.
This Order also abolishes any remnant of the Diversity, Equity and Inclusion (DEI) bureaucracy within the Department of Defense and the Department of Homeland Security.
The Secretary of Defense will task the Department of Defense with conducting an internal review of all instances of race- or sex-based discrimination based on Department of Defense DEI initiatives.
This Order also requires the Secretary of Defense and the Secretary of Homeland Security to review the curriculum at the United States Service Academies and other academic institutions to ensure these institutions eliminate radical DEI and gender ideologies.
ENDING AN ERA OF ASSAULT ON MILITARY DISCIPLINE AND CULTURE: Foreign adversaries are strengthening their fighting forces every day while the United States has deliberately been focused on radical ideology like DEI. The world is watching.
Prior to harmful changes introduced by the Obama and Biden administrations, the United States military offered equality of opportunity to every American capable of and interested in serving their country. Yet these two administrations exploited the military in favor of identity politics—harming our national defense, undermining the non-political nature of our military, and eroding morale and recruitment.
Due to this “woke” assault, the Services together logged their lowest recruiting records since 1940 with a 41,000-troop shortfall in 2023.
Today’s Order moves our military away from this dark period and renews esprit de corps, readiness, and focus. It returns the Pentagon to the warfighter.
This Order also combats ideologies that seek to divide our Armed Forces by race, sex or other immutable characteristics and thus tear at cohesion and military efficacy.
RESTORING A WARFIGHTING MINDSET: The Armed Forces of the United States exist to preserve our freedom and the American way of life.
President Trump is committed to a merit-based system of sex-neutral policies and colorblind recruitment, promotion, and retention that will return our military to greatness.
President Trump vowed to get rid of the “woke” generals who prioritize social experiments over warfighting. He stated in his 2024 reelection campaign that “…[y]ou can’t have a woke military…You need people that want to win. They want to win wars. That’s what their purpose is, to win wars, not to be woke… but we do have great military.”
Source: The White House
PRIORITIZING SERVICEMEMBER INTEGRITY, LETHALITY, AND HEALTH: Today, President Donald J. Trump signed an Executive Order directing the Department of Defense to update its guidance regarding trans-identifying medical standards for military service and to rescind guidance inconsistent with military readiness.
The Executive Order will require the Secretary of Defense to do the following:
Update all Department of Defense medical standards to ensure they prioritize readiness and lethality.
Take action to end the use of invented and identification-based pronouns in the Department of Defense.
The Executive Order also prohibits males from using or sharing sleeping, changing, or bathing in facilities designated for females.
The provisions in the Executive Order also apply to the Coast Guard.
The Executive Order revokes Biden Administration Executive Order 14004 and all policies, directives, and guidance pursuant to that order.
Executive Order 14004 called for accommodating “gender identity” in the military—to the detriment of military readiness and unit cohesion.
RESTORING SANITY IN OUR MILITARY: During the Biden Administration, the Department of Defense allowed gender insanity to pervade our military organizations, family, and culture. This included not only permitting the military to increase the number of individuals not physically or mentally prepared to serve, but also ordering the Department of Defense to pay for servicemembers’ transition surgeries, as well as those of their dependent children—at a cost of millions of dollars to the American taxpayer.
The United States imposes rigorous standards on all military servicemembers to ensure they are prepared to take on the challenges required of them.
Fitness, health, welfare, and readiness standards must ensure that our military members are able to deploy, fight, and win.
On the battlefield there can be no accommodation for anything less than resilience, strength, and the ability to withstand extraordinary physical demands.
Individuals who are unable to meet these requirements are unable to serve in the military. This has been the case for decades.
Unit cohesion requires high levels of integrity and stability among servicemembers.
It can take a minimum of 12 months for an individual to complete treatments after transition surgery, which often involves the use of heavy narcotics.
During this period, they are not physically capable of meeting military readiness requirements and require ongoing medical care. This is not conducive for deployment or other readiness requirements.
A LETHAL FIGHTING FORCE: President Trump’s priority to have a ready, able, and lethal military will remain a core tenant of his second term.
During his first term in 2018, President Trump’s Department of Defense took action to ensure trans-identifying servicemembers did not serve in capacities that undermined unit cohesion and lethality.
Plastic pollution has become a global crisis, with theUnited Nations Environment Programmeestimating between 19 and 23 million tons of plastic waste leak into aquatic ecosystems each year. A partnership between UConn marine sciences researchers and a leading bioplastics manufacturer is showing promise in addressing this issue.
A recent study published in theJournal of Polymers and the Environmentfound that Mater-Bi, a starch-based polymer produced by Italian company Novamont, degraded by as much as nearly 50% over nine months in a marine environment—significantly more than traditional plastics.
Novamont, which has a U.S. office in Shelton, collaborated with the UConn team to evaluate the product’s biodegradation.
The study was led by Hannah Collins, a marine sciences Ph.D. candidate. Collins and her co-author, Larissa Tabb ’22 (CLAS), highlighted research done as part of the Marine Environmental Physiology Laboratory under the guidance of her advisor, professor and head of marine sciences Evan Ward.
“I’ve always been interested in how marine animals interact with their environment,” Collins says. “When our lab started looking at microplastics, it was clear how pervasive and damaging this problem is.”
Collins says the findings could have meaningful implications for reducing plastic pollution in aquatic environments. For example, products like Mater-Bi could replace traditional plastics used in aquatic structures, such as kelp farm lines, to reduce the possibility of plastic pollution.
The tank set up for the experiment at John S. Rankin Laboratory on the Avery Point campus. (Contributed by Hannah Collins.)
“We’ve seen the pictures of sea turtles with plastic around their heads,” she says. “We have a lot of evidence of the negative effects of plastic pollution.”
Collins, who grew up visiting Cape Cod and the beaches of Long Island Sound, has long been fascinated by marine life. After earning a degree in biology from Gettysburg College and working in Alaska’s salmon fisheries, she decided to combine her passion for marine organisms and the environment, first in her master’s program and now for her Ph.D.
She says the collaboration with Novamont has helped her feel like she is making a difference in addressing marine pollution. It also provided her with hands-on experience examining real-world product applications.
Biodegradable plastics like Mater-Bi degrade much faster than traditional plastics, reducing risks to aquatic environments. However, Collins notes that many of these products are often tested under controlled conditions, not in real-world marine environments.
Students spent nine months monitoring degradation of Mater-Bi
Collins’ research on Mater-Bi was conducted in a semi-controlled environment at the John S. Rankin Laboratory on the Avery Point campus. The lab filters seawater from the surrounding area to keep large organisms, like crabs, out. This allowed Collins and her team to test how much the product degraded in natural conditions while ruling out the impact of interference from those large organisms.
Samples of the bags used in the experiment. (Contributed by Hannah Collins).
Her team tested samples of a Mater-Bi compostable bag, a traditional plastic bag, and a known biodegradable plastic in the lab. Every two weeks, they checked and measured how much each sample degraded by either mass or area. After nine months, they found that the Mater-Bi samples lost between 25% and 47% of their mass or area. Additionally, they found that the rate of degradation increased during warmer months.
“Microbial activity tends to increase in warmer conditions, which likely contributed to the faster degradation rates we observed,” Collins says.
A Mater-Bi sample at the end of the experiment. (Contributed by Hannah Collins).
Collins says she is hopeful that these findings could lead to future uses of Mater-Bi in aquaculture, especially for products where temporary or disposable materials are often used, such as oyster grow-out bags or kelp farming lines.
“If something breaks loose, it won’t persist in the water for decades,” she says.
Collins and Tabb have maintained connections with Novamont. Collins will attend the World Aquaculture Conference in New Orleans this March, where she hopes to connect industry leaders with biodegradable products like those produced by Novamont.
“Addressing plastic pollution requires a range of solutions,” she says. “Biodegradable plastics are just one piece of the puzzle.”
If there is one thing that Gaofei Zhang learned from a night-time equestrian class at UConn on a bitter cold evening is that a warm, comfortable pair of boots is one of life’s necessities.
“After that night, I tried a lot of brands of boots,’’ says Zhang, a Ph.D. student in the Department of Allied Health Sciences in the College of Agriculture, Health and Natural History (CAHNR). “They either weren’t warm or weren’t waterproof, or they were slippery or stiff or hard to clean. I didn’t understand why you’d call them ‘snow boots’ if they aren’t good in the snow!’’
Zhang has a home in Mongolia where the temperature drops as low as minus-30 degrees. The locals create warm and comfortable work boots, but they aren’t stylish. Zhang thought she could adopt their footwear expertise and merge it with something fashionable, including multi-colored fur and beads.
“As an international student, I didn’t know anything about how to start a company and I was not brave enough to create it on my own,’’ she says. Last year she brought her idea to Innovation Quest (iQ), a UConn entrepreneurship program and competition that helps students develop their ideas into thriving startups. IQ provides workshops, mentoring, and startup funding for the most promising ideas.
Today, Zhang’s unique, handcrafted boots, marketed under the name MOGSki, are ready to go to market, and the 15 styles of boots and apres-ski accessories are drawing interest from many boutiques. Elegant and chic, they are made of sheep, mink, or cow hide and lined with shearling for added warmth.
Innovation Quest Workshops Begin on Feb. 4; Students Vie for $30,000 in Funding
Zhang is one of more than 2,500 UConn students who have participated in iQ since its inception 14 years ago. The program is open to UConn graduate and undergraduate students from any field of study.
IQ is run by Kevin Gardiner ’06 MBA, an adjunct professor in business and engineering. He has held management positions at both startups and long-established companies, including Macy’s, Oracle, and Welcome Commerce.
“We’re definitely looking for someone who has grit, someone who isn’t going to give up,’’ he says. “As an entrepreneur, you get far more ‘no’s’ than ‘yeses,’ and that’s something that you have to accept. I also look for someone with a passion for the problem they are tackling. When the iQ judges see that, they know they’ve got an entrepreneur whom they can bet on.”
This year’s event will begin with a kickoff workshop at 6:30 p.m. on Tuesday, Feb, 4, followed by workshops on Feb. 12, Feb. 26, and March 5. All the workshops are virtual for the convenience of students. Participants may sign up at innovationquest.uconn.edu.
IQ had a 22% increase in participation last year, over 2023, and that’s a trend that Gardiner hopes to see continue.
Previous participants have created everything from stuffed animals to clothing to personal care items to businesses engaged in environmental cleanup. Gardiner says that in recent years, students seem particularly interested in health tech, mobile apps, and AI-related companies, but all good idea are welcome.
Last year’s first-place award went to Ph.D. candidate John Toribio, whose company Zemi Labs is creating wearable garments that provide biomechanical data, including heart and muscle performance.
“UConn continues to provide more and more opportunities for student entrepreneurs, and we continue to evolve this program,’’ Gardiner says. “We welcome students who just want to dip a toe in the water, as well as those who are fully committed to creating a business.’’
The iQ program has more than 50 expert mentors and more than half of them have been associated with the program since the beginning. Every year, iQ adds new advisers, all passionate about working with students.
“I want all students to feel welcome,’’ Gardiner says. “We have four virtual workshops to help students understand entrepreneurship. Are you ready to launch a business? If not, what do you need to get ready? We want anyone, even those with a more remote interest, to attend and learn.’’
After the workshops are completed, students can submit a formal application to enter the competition and compete for a share of $30,000 in funding. Final presentations are April 14 in Storrs and the top three startup companies will be announced. Many of the previous participants have gone on to start their companies or to pursue an entrepreneurial career.
Zhang Developed Business Expertise, Confidence
For Zhang, the last year has been enormously gratifying, both personally and professionally.
“IQ has been an incredible journey for me. It’s not only helped sharpen my presentation skills but also expanded my knowledge across so many areas—product positioning, sales, marketing, tax, finance, IP, law, storytelling, and more,’’ she says.
“The competition broadened my perspectives, strengthened my courage and determination, and provided invaluable mentorship and networking opportunities,’’ she says. “It’s truly been one of the most impactful milestones in my entrepreneurial journey, directly pushing forward the progress of my startup.’’
She says she would tell anyone considering entrepreneurship to give it a try.
“I would tell other entrepreneurs to be fearless in exploring new ideas and to use your own experiences to solve problems,’’ she says. “Be adaptable, build a network, find mentors, be persistent, and be open to both failures and successes.’’
DELRAY BEACH, Fla., Jan. 28, 2025 (GLOBE NEWSWIRE) — Fengate Private Equity, a division of Fengate Asset Management (“Fengate”), is pleased to announce a new platform investment through its partnership with eMAX Health (“eMAX” or “the Company”). Fengate is managing this investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC).
The existing management team, led by Founder and President, Julian Casciano, will continue to lead eMAX and remain significant investors in the Company alongside Fengate. Terms of the transaction were not disclosed.
Founded in 2004 by Julian Casciano, eMAX has grown into a recognized leader in the fields of real-world evidence development research, market access, and patient services. The Company features an experienced team of research scientists, healthcare experts, and key opinion leaders, supported by advanced data management and technology-enabled solutions. The Company’s proprietary platforms— MAVA, EMRClaims+, and HealthPACER— are at the forefront of tech-enabled pharmaceutical commercialization.
“We are delighted to support Julian, a dynamic founder with an ambitious vision for eMAX, and help fuel the Company’s continued growth,” said Maxim Tcherner, Principal at Fengate Private Equity. “eMAX has rapidly scaled, establishing a leading position in a fragmented industry, all while staying true to its client-centric culture. The investment is strongly aligned with our strategy of partnering with exceptional management teams and providing differentiated services in high-growth sectors. eMAX will be a valuable addition to Fengate’s healthcare portfolio.”
“eMAX is excited to partner with Fengate as the Company enters its next phase of growth. We will be able to accelerate new product development across high-demand tech-enabled services, enhance our portfolio of innovative capabilities, and significantly expand customer account management,” said Julian Casciano, Founder and President of eMAX Health. “With our aligned values and ambition, I believe the Fengate partnership will help our customers improve the lives of patients around the world.”
North Point Mergers and Acquisitions served as financial advisors and Coviello Weber & Dahill LLP served as legal advisors to eMAX. Torys LLP served as legal advisor to Fengate.
eMAX Health, founded in 2004 and headquartered in Delray Beach, Florida, is a leader in market access innovation, real-world evidence development research, and digitally connected patient access and outcomes monitoring solutions. eMAX Health serves as a partner of choice to the largest global pharmaceutical and biotechnology companies. Learn more at www.emaxhealth.net/.
About Fengate Asset Management
Fengate is a leading alternative investment manager, with more than $10 billion of capital commitments under management, focused on private equity, infrastructure, and real estate strategies. With offices and team members across Canada and the United States, Fengate leverages 50 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients. Fengate Private Equity, a division of Fengate Asset Management, is a differentiated investment platform supporting the growth ambitions of entrepreneurs through transformative capital. Learn more at www.fengate.com.
About the LiUNA Pension Fund of Central and Eastern Canada Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and over $12 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of investments. Learn more at www.lpfcec.org.
ST. LOUIS, Jan. 28, 2025 (GLOBE NEWSWIRE) — Rapsodo, the company known for giving athletes the tools they need to play like never before, announces its partnership with Jeff McNeil, a two-time Major League Baseball All-Star and second baseman for the New York Mets. Also known as the “Flying Squirrel” for diving after balls on the diamond, McNeil has been training with Rapsodo for the last few years.
“Rapsodo and technology in sports is great. It has helped improve my game, like the last few weeks I used Rapsodo golf to help me choose between my old Callaway driver versus a new one to prepare for this tournament,” McNeil said. “The best part is that I’ve been able to use Rapsodo for golf and baseball. I use it before every game in the batting cage looking at the numbers. It helps me understand which pitches I can do the most damage on – hit the hardest or furthest, so it has been a big part of my game.”
McNeil’s passions lie beyond baseball; he’s also an avid golf player. Not only does he train with Rapsodo’s diamond sports ball flight monitors to perfect his swing, but he also uses Rapsodo’s Mobile Launch Monitor 2 Pro (MLM2PRO) to level up his golf game. With the MLM2PRO, McNeil practices his skills and improves his game anytime, anywhere, by tracking key performance metrics on golf courses as well as simulated courses and ranges.
He will put his golf skills to the test at the LPGA Hilton Grand Vacations Tournament of Champions from January 30 to February 2, 2025. Here, the top amateur golfers are invited to participate in the main Pro-Am tournament. McNeil made his debut during this tournament last year, where he won the celebrity field after scoring 138 points using a modified Stableford format.
“We’re thrilled to partner with Jeff McNeil, a multi-sport athlete who constantly pushes the boundaries of performance,” said Katrina Hartwell, Rapsodo U.S. general manager. “Jeff exemplifies how our technology can drive success across different sports, and we’re proud to support athletes like him in reaching their full potential, whether on the diamond or the golf course.”
For more information on Rapsodo’s technology, visit Rapsodo.com.
About Rapsodo Rapsodo defies limits with affordable, professional-grade technology to enhance the way athletes play across the world. Used by MLB teams, NCAA Division I Champions, and elite PGA coaches, Rapsodo technology has earned multiple MyGolfSpy’s Best Of Golf Awards and the Official Player Development Partner of USA Baseball, affirming Rapsodo’s leadership in golf, baseball, and softball tech. Do what you didn’t think was possible. Play Without Limits. Play with Rapsodo. Discover more at Rapsodo.com.
ASHEVILLE, N.C. and CAMDEN, Tenn., Jan. 28, 2025 (GLOBE NEWSWIRE) — HomeTrust Bancshares, Inc. (NASDAQ: HTBI) (“Company”), the holding company of HomeTrust Bank (“HomeTrust”), and Apex Bank (“Apex”) today announced that HomeTrust and Apex have entered into a definitive purchase and assumption agreement (the “agreement”) under which Apex will acquire HomeTrust’s two branches in Knoxville, Tennessee. Under the terms of the agreement, Apex will acquire the physical locations, related fixed assets, and substantially all the customer deposit accounts which are currently estimated at $42 million. HomeTrust will retain the loan accounts associated with the branches.
“This transaction aligns with our strategic plan to tighten our geographic footprint, improve our branch efficiencies, and allocate our capital to support our long-term growth in other core markets,” said Hunter Westbrook, HomeTrust’s President and Chief Executive Officer.
Matt Daniels, President and CEO of Apex Bank said, “Being locally owned and operated, we are excited to expand our footprint in Knoxville. This investment will allow us to better serve customers and support the community. We will continue to look for opportunities to expand our presence in the area and remain committed to providing personalized financial solutions that help individuals and businesses thrive.”
The proposed transaction, which is subject to customary closing conditions, including approval by applicable regulatory authorities, is currently anticipated to close in the second quarter of 2025.
Piper Sandler & Co. served as HomeTrust’s financial advisor for the transaction, while Silver, Freedman Taff & Tiernan LLP provided legal counsel. Baker Donelson provided legal counsel for Apex.
About HomeTrust Bancshares, Inc. HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank. As of December 31, 2024, the Company had assets of $4.6 billion. The Bank, founded in 1926, is a North Carolina state chartered, community-focused financial institution committed to providing value added relationship banking with over 30 locations as well as online/mobile channels. Locations include: North Carolina (the Asheville metropolitan area, the “Piedmont” region, Charlotte, and Raleigh/Cary), South Carolina (Greenville and Charleston), East Tennessee (Kingsport/Johnson City, Knoxville, and Morristown), Southwest Virginia (Roanoke Valley) and Georgia (Greater Atlanta).
About Apex Bank Apex Bank was founded in 1931 and is headquartered in Knoxville, Tennessee. Apex Bank has experienced tremendous growth since 2008, increasing total assets from $157 million to over $1.35 billion in 2025. The bank currently has 20 retail locations and a Knoxville-based national mortgage servicing center. Apex Bank has consistently been ranked as one of the best-performing community banks in the nation for the past 16 years, including the award of Tennessee’s Top Community Bank from Independent Community Bankers of America and other leading rankings in the financial industry.
Forward-Looking Statements This press release may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but instead are based on certain assumptions including statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by forward-looking statements. The factors that could result in material differentiation include, but are not limited to, the impact of bank failures or adverse developments involving other banks and related negative press about the banking industry in general on investor and depositor sentiment; the remaining effects of the COVID-19 pandemic on general economic and financial market conditions and on public health, both nationally and in the Company’s market areas; natural disasters, including the effects of Hurricane Helene; expected revenues, cost savings, synergies and other benefits from merger and acquisition activities might not be realized to the extent anticipated, within the anticipated time frames, or at all, costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected, and goodwill impairment charges might be incurred; increased competitive pressures among financial services companies; changes in the interest rate environment; changes in general economic conditions, both nationally and in our market areas; legislative and regulatory changes; and the effects of inflation, a potential recession, and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission – which are available on the Company’s website at www.htb.com and on the SEC’s website at www.sec.gov. Any of the forward-looking statements that the Company makes in this press release or in the documents the Company files with or furnishes to the SEC are based upon management’s beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions, the factors described above or other factors that management cannot foresee. The Company does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
Net interest margin (tax-equivalent) improved 44 basis points to 3.09%, compared to 4Q 2023
Net interest income (tax-equivalent) increased 14% compared to 4Q 2023
Average loans increased 3% compared to 4Q 2023
Nonperforming assets were $0.5 million or 0.05% of total assets at December 31, 2024
AUBURN, Ala., Jan. 28, 2025 (GLOBE NEWSWIRE) — Auburn National Bancorporation (Nasdaq: AUBN) reported net income of $1.6 million, or $0.45 per share, for the fourth quarter of 2024, compared to $1.7 million, or $0.50 per share, for the third quarter of 2024, and a net loss of $(4.0) million, or $(1.14) per share, for the fourth quarter of 2023. The net loss for the fourth quarter of 2023 reflected the sale of $117.6 million of available-for-sale securities for an after-tax loss of $(4.7) million, or $(1.35) per share related to the Company’s balance sheet repositioning strategy. Excluding this non-routine item, net earnings for the fourth quarter of 2023 would have been $0.7 million, or $0.21 per share.
For the full year 2024, the Company reported net earnings of $6.4 million, or $1.83 per share, compared to $1.4 million, or $0.40 per share, for 2023. Excluding the loss on sale of securities related to the balance sheet repositioning strategy during 2023, described above, net earnings for the full year 2023 would have been $6.1 million, or $1.75 per share.
“Our fourth quarter and full year results reflect solid revenue growth, strong asset quality, and controlled expenses,” said David A. Hedges, President and CEO. “Except for the first quarter of 2024, following the balance sheet repositioning, our quarterly cost of deposits decreased for the first time since the third quarter of 2022. We remain optimistic that our net interest margin will continue to improve in 2025 as recent cuts in the federal funds rate should reduce our cost of deposits and still allow our earning asset yields to improve as loans and securities re-price. While the interest rate environment remains challenging for the banking industry, our capital and liquidity are strong and we are well positioned to meet the needs of our customers,” said Mr. Hedges.
Net interest income (tax-equivalent) was $7.0 million for the fourth quarter of 2024, compared to $6.8 million in the third quarter of 2024, and $6.2 million for the fourth quarter of 2023. The increase in net interest income was primarily due to improved net interest margin.
Net interest margin (tax-equivalent) was 3.09% in the fourth quarter of 2024, compared to 3.05% in the third quarter of 2024, and 2.65% in the fourth quarter of 2023. The increase in net interest margin compared to the fourth quarter of 2023 was primarily due to loan growth and the balance sheet repositioning strategy mentioned above, which resulted in a more favorable asset mix and higher yields on interest-earning assets in 2024. Average loans for the fourth quarter of 2024 were $567.6 million, a 3% increase from the fourth quarter of 2023.
Nonperforming assets were $0.5 million, or 0.05% of total assets, at December 31, 2024, compared to $0.8 million, or 0.08% of total assets at September 30, 2024, and $0.9 million, or 0.09% of total assets, at December 31, 2023.
The Company recorded a negative provision for credit losses of $(48) thousand in the fourth quarter of 2024, compared to a negative provision for credit losses of $(127) thousand in the third quarter of 2024, and a provision for credit losses of $326 thousand in the fourth quarter of 2023.
At December 31, 2024 and September 30, 2024, the Company’s allowance for credit losses was $6.9 million, or 1.22% of total loans, compared to $6.9 million, or 1.23% of total loans at December 31, 2023. Although the balance of the allowance for credit losses was largely unchanged, the decrease in the allowance for credit losses as a percentage of total loans was primarily due to improved economic forecasts.
Noninterest income was $0.8 million for both the fourth and third quarters of 2024, compared to a loss of $5.4 million in the fourth quarter of 2023. Excluding the pre-tax securities loss of $6.3 million related to the balance sheet repositioning strategy in 2023, noninterest income would have been $0.9 million for the fourth quarter of 2023.
Noninterest expense was $5.5 million in both the fourth and third quarters of 2024, compared to $5.8 million for the fourth quarter of 2023. The decrease in noninterest expense compared to the fourth quarter of 2023 was primarily related to decreases in salaries and benefits expense, net occupancy and equipment expense, and professional fees expense.
The provision for income tax expense was $0.8 million for the fourth quarter of 2024, compared to income tax expense of $0.5 million for the third quarter of 2024, and an income tax benefit of $(1.5) million for the fourth quarter of 2023.
The effective tax rate for the fourth quarter of 2024 was 34.73%, compared to 23.46% for the third quarter of 2024, and an effective tax rate of (27.53)% for the fourth quarter of 2023. The increase in the effective tax rate compared to the fourth quarter of 2023 was primarily due to an increase in pre-tax earnings in 2024 resulting from our balance sheet repositioning and the pre-tax loss incurred in the fourth quarter of 2023 from selling securities in such balance sheet repositioning. Also, the provision for income tax expense and the effective tax rates for the fourth and third quarters of 2024 included discrete tax items associated with provision to return adjustments in conjunction with the final 2023 tax return filing and the resolution of state examination activities, which resulted in additional tax expense. Excluding these discrete items, the effective tax rate for the fourth and third quarters of 2024, would have been 21.55% and 18.96%, respectively. The Company’s effective income tax rate otherwise is principally affected by tax-exempt earnings from the Company’s investments in municipal securities, bank-owned life insurance, and New Markets Tax Credits.
Total assets were $977.3 million at December 31, 2024, compared to $990.1 million at September 30, 2024 and $975.3 million at December 31, 2023. Loans, net of unearned income were $564.0 million at December 31, 2024, compared to $565.7 million at September 30, 2024 and $557.3 million at December 31, 2023. Growth in construction and land development loans since December 31, 2023 was partially offset by paydowns in commercial and industrial loans. Total deposits were $895.8 million at December 31, 2024, compared to $901.7 million at September 30, 2024 and $896.2 million at December 31, 2023. At December 31, 2024, the Company had $74.1 million of reciprocal deposits sold off-balance sheet, compared to $37.8 million at September 30, 2024, and $59.0 million at December 31, 2023. The Company had no brokered deposits, FHLB advances or other wholesale borrowings outstanding at December 31, 2024, September 30, 2024, or December 31, 2023.
At December 31, 2024, the Company’s consolidated stockholders’ equity (book value) was $78.3 million, or $22.41 per share, compared to $84.3 million, or $24.14 per share, and $76.5 million, or $21.90 per share, at December 31, 2023. The decrease from September 30, 2024 was primarily driven by other comprehensive losses of $6.7 million due to higher market interest rates that led to an increase in unrealized losses on securities available-for-sale, net of tax, and cash dividends paid of $1.0 million, partially offset by net earnings of $1.6 million during the fourth quarter of 2024. The increase from December 31, 2023 was primarily driven by net earnings of $6.4 million, which was partially offset by cash dividends paid of $3.8 million, other comprehensive losses of $0.6 million related to unrealized gains/losses on securities available-for-sale, net of tax, and a $0.3 million one-time charge for the cumulative effect to adopt a new accounting standard on January 1, 2024. Unrealized losses on securities do not affect the Bank’s capital for regulatory capital purposes.
The Company’s tangible common equity (“TCE”) ratio or total equity to total assets ratio was 8.01% at December 31, 2024, compared to 8.52% at September 30, 2024, and 7.84% at December 31, 2023. All of the Company’s marketable securities are classified as available-for-sale. Therefore, any changes in the fair value of the Company’s securities portfolio are reflected in total equity, net of tax, under generally accepted accounting principles.
The Company paid cash dividends of $0.27 per share in the fourth quarter of 2024. At December 31, 2024, the Bank’s regulatory capital ratios were well above the minimum amounts required to be “well capitalized” under current regulatory standards.
About Auburn National Bancorporation, Inc.
Auburn National Bancorporation, Inc. (the “Company”) is the parent company of AuburnBank (the “Bank”), with total assets of approximately $977 million. The Bank is an Alabama state-chartered bank that is a member of the Federal Reserve System, which has operated continuously since 1907. Both the Company and the Bank are headquartered in Auburn, Alabama. The Bank conducts its business in East Alabama, including Lee County and surrounding areas. The Bank operates seven full-service branches in Auburn, Opelika, Valley, and Notasulga, Alabama. The Bank also operates a loan production office in Phenix City, Alabama. Additional information about the Company and the Bank may be found by visiting www.auburnbank.com.
This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, costs and revenues, the continuing effects of the COVID-19 pandemic and related government, Federal Reserve monetary and regulatory actions, including the remaining effects of pandemic-related economic stimulus and economic conditions generally and in our markets, loan demand, mortgage lending activity, changes in the mix of our earning assets (including those generating tax exempt income or tax credits) and our mix and cost of deposits and wholesale liabilities, net interest income and margin, yields on earning assets, the market values and performance of securities held, effects of inflation, including Federal Reserve monetary policies which were tightened in response to inflation beginning in 2022 through increases in the target federal funds rate and reductions in the Federal Reserve’s Treasury and mortgage-backed securities (MBS) holdings, and more recent monetary loosening through increased reinvestment of maturing Treasury securities and reinvestment in agency debt and MBS in Treasury securities beginning in June 2024 and beginning September 17, 2024, three reductions in the target federal funds rate totaling 100 basis points to a current target of 4.25-4.50%, changes in the shape of the yield curve, interest rates (generally and those applicable to our assets and liabilities) and changes in our asset values, especially investment securities, as a result of monetary policies and interest rate changes, noninterest income, loan performance, loan deferrals and modifications, nonperforming assets, other real estate owned, provision for credit losses, including the continuing effects of the application of the new CECL accounting standard adopted on January 1, 2023 and our CECL models, including possible adjustments to the fair values of securities available for sale in lieu of other-than-temporary impairments, charge-offs, collateral values, credit quality, asset sales, insurance claims, and market trends, as well as statements with respect to our objectives, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.
Forward-looking statements, with respect to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, achievements, or financial condition of the Company or the Bank to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not expect us to update any forward-looking statements.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2023 and otherwise in our other SEC reports and filings.
Explanation of Certain Unaudited Non-GAAP Financial Measures
This press release contains financial information determined by methods other than U.S. generally accepted accounting principles (“GAAP”). The attached financial highlights include certain designated net interest income amounts presented on a tax-equivalent basis, a non-GAAP financial measure, and the presentation and calculation of the efficiency ratio, a non-GAAP measure. Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes the presentation of net interest income on a tax-equivalent basis provides comparability of net interest income from both taxable and tax-exempt sources and facilitates comparability within the industry. Similarly, the efficiency ratio is a common measure that facilitates comparability with other financial institutions. Although the Company believes these non-GAAP financial measures enhance investors’ understanding of its business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. Along with the attached financial highlights, the Company provides reconciliations between the GAAP financial measures and these non-GAAP financial measures.
For additional information, contact: David A. Hedges President and CEO (334) 821-9200
Financial Highlights (unaudited)
Quarter ended
Year ended December 31,
(Dollars in thousands, except per share amounts)
December 31, 2024
September 30, 2024
December 31, 2023
2024
2023
Results of Operations
Net interest income (a)
$
6,988
$
6,811
$
6,154
$
27,204
$
26,745
Less: tax-equivalent adjustment
19
21
95
79
417
Net interest income (GAAP)
6,969
6,790
6,059
27,125
26,328
Noninterest income
845
846
(5,429
)
3,474
(2,981
)
Total revenue
7,814
7,636
630
30,599
23,347
Provision for credit losses
(48
)
(127
)
326
36
135
Noninterest expense
5,472
5,500
5,803
22,166
22,594
Income tax expense (benefit)
830
531
(1,514
)
2,000
(777
)
Net earnings (loss)
$
1,560
$
1,732
$
(3,985
)
$
6,397
$
1,395
Per share data:
Basic and diluted net earnings (loss):
$
0.45
$
0.50
$
(1.14
)
$
1.83
$
0.40
Cash dividends declared
$
0.27
$
0.27
$
0.27
$
1.08
$
1.08
Weighted average shares outstanding:
3,493,699
3,493,699
3,493,614
3,493,690
3,498,030
Shares outstanding, at period end
3,493,699
3,493,699
3,493,614
3,493,699
3,493,614
Book value
$
22.41
$
24.14
$
21.90
$
22.41
$
21.90
Common stock price:
High
$
24.57
$
24.35
$
21.99
$
24.57
$
24.50
Low
20.06
17.50
19.72
16.63
18.80
Period-end
$
23.49
$
22.90
$
21.28
$
23.49
$
21.28
To earnings ratio (c)
12.77
x
91.60
x
53.20
x
12.84
x
53.20
x
To book value
105
%
95
%
97
%
105
%
97
%
Performance ratios:
Return on average equity (annualized):
7.49
%
9.10
%
(26.40
)
%
8.21
%
2.05
%
Return on average assets (annualized):
0.63
%
0.71
%
(1.56
)
%
0.65
%
0.14
%
Dividend payout ratio
60.00
%
54.00
%
(23.68
)
%
59.02
%
270.00
%
Other financial data:
Net interest margin (a)
3.09
%
3.05
%
2.65
%
3.06
%
2.89
%
Effective income tax rate
34.73
%
23.46
%
(27.53
)
%
23.82
%
(125.73
)
%
Efficiency ratio (b)
69.86
%
71.83
%
800.41
%
72.25
%
95.08
%
Asset Quality:
Nonperforming assets:
Nonperforming (nonaccrual) loans
$
503
$
775
$
911
$
503
$
911
Total nonperforming assets
$
503
$
775
$
911
$
503
$
911
Net (recoveries) charge-offs
$
(16
)
$
60
$
173
$
(14
)
$
46
Allowance for credit losses as a % of:
Loans
1.22
%
1.22
%
1.23
%
1.22
%
1.23
%
Nonperforming loans
1,366
%
887
%
753
%
1,366
%
753
%
Nonperforming assets as a % of:
Loans and other real estate owned
0.09
%
0.14
%
0.16
%
0.09
%
0.16
%
Total assets
0.05
%
0.08
%
0.09
%
0.05
%
0.09
%
Nonperforming loans as a % of total loans
0.09
%
0.14
%
0.16
%
0.09
%
0.16
%
Net (recoveries) charge-offs
as a % of average loans
(0.01
)
%
0.04
%
0.13
%
—
%
0.01
%
Selected average balances:
Securities
$
255,168
$
251,723
$
354,065
$
258,155
$
387,488
Loans, net of unearned income
567,634
571,651
550,938
568,378
523,838
Total assets
991,275
982,656
1,020,476
982,268
1,021,808
Total deposits
904,605
904,860
953,674
902,429
946,791
Total stockholders’ equity
83,325
76,113
60,372
77,921
68,066
Selected period end balances:
Securities
$
243,012
$
258,285
$
270,910
$
243,012
$
270,910
Loans, net of unearned income
564,017
565,699
557,294
564,017
557,294
Allowance for credit losses
6,871
6,876
6,863
6,871
6,863
Total assets
977,324
990,143
975,255
977,324
975,255
Total deposits
895,824
901,724
896,243
895,824
896,243
Total stockholders’ equity
78,292
84,336
76,507
78,292
76,507
(a) Tax equivalent. See “Explanation of Certain Unaudited Non-GAAP Financial Measures” and “Reconciliation of
GAAP to non-GAAP Measures (unaudited).”
(b) Efficiency ratio is the result of noninterest expense divided by the sum of noninterest income and tax-equivalent
net interest income. See “Reconciliation of GAAP to non-GAAP Measures (unaudited)” below.
(c) Calculated by dividing period end share price by earnings per share for the previous four quarters.
Reconciliation of GAAP to non-GAAP Measures (unaudited):
CHICAGO, Jan. 28, 2025 (GLOBE NEWSWIRE) — GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, will present at the UBS Financial Services Conference on Tuesday, February 11, 2025, at 2:40 p.m. ET.
A link to the live audio webcast of the presentation is available on GCM Grosvenor’s public shareholders website and the event website. For those unable to listen to the live audio webcast, a replay will be available for 180 days following the presentation.
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.
Public Shareholders Contact Stacie Selinger sselinger@gcmlp.com 312-506-6583
NEW YORK, Jan. 28, 2025 (GLOBE NEWSWIRE) — Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, has announced several strategic leadership advancements and new hires to support its growth in 2025 being fueled by an accelerating M&A environment as part of its ambitious growth strategy for 2025.
The industry’s largest and most experienced executive leadership team realigns roles in preparation for a milestone year. Brian Traugott has been promoted to Chief of Staff to President and CEO Dave Cantin and Chief Business and Strategy Officer Brian Gordon. Other executive appointments included Tony Karabon as Executive Vice President, Head of Acquisition Management, and Stephen Jones as Executive Vice President, Head of Acquisition Strategy.
Within the DCG central support team, Brandon Werley has been promoted to Vice President of M&A Advisory Services, bolstering DCG’s client service group, which utilizes the company’s proprietary AI tool, Jump IQ. Denise Salzstein has moved to Director of CRM, and Cameron Markeson to Associate, Business Analysis. The company also welcomed Zach Orr as Marketing Coordinator.
All these moves follow a robust year in 2024 for DCG and foreshadow what is shaping up to be the company’s busiest year in history in 2025. “The number of large, quality deals we already have scheduled for closing in the first half of 2025, combined with the current level of client activity indicated that we needed to staff up across the organization to meet our clients’ needs,” said Dave Cantin, President and CEO of Dave Cantin Group. “We’re excited to see our team growing and to maximize the exceptional talent of our Executive Leadership Team, delivering unparalleled service, innovation, and results for our clients.”
About Dave Cantin Group
The Dave Cantin Group is a leading automotive M&A advisory company specializing in acquisitions, divestitures, intelligence, and other advisory services. The company is the M&A services provider of choice for North America’s top automotive dealership groups, advising on approximately 40 transactions annually, DCG is differentiated by its advisory approach, long term lens on client relationships, and commitment to market intelligence tools that inform DCG and client strategies. In 2023, DCG became the only retail automotive M&A company with a significant strategic investor, welcoming Kaltroco to the DCG family.
Through its M&A intelligence division, DCG produces automotive content and delivers relevant, timely marketing intelligence, including the automotive industry Market Outlook Report (MOR). Together with CBT News, DCG produces the Inside M&A studio show and podcast to share stories, news and trends impacting the retail automotive industry. DCG’s proprietary AI-enabled software, Jump IQ, anchors its advisory services that support retail automotive dealers in developing informed M&A strategies and making smarter M&A decisions.
The company’s nonprofit initiative, DCG Giving, funds child and adolescent cancer research and treatment in communities nationwide and other worthy charitable initiatives. DCG team members regularly feature on the industry speaking circuit and are regularly cited by top national and global news outlets. For more information, please visit davecantingroup.com.
SAN DIEGO, Jan. 28, 2025 (GLOBE NEWSWIRE) — ESET, a global leader in cybersecurity and threat detection, today announced a new series of its cybersecurity podcast, Speakeasy Security. As part of a 10-episode series, Speakeasy Security will be co-hosted by ESET Chief Security Evangelist Tony Anscombe and Co-Founder and CEO of Cysurance Kirsten Bay – providing lively commentary on the latest tech, privacy and cybersecurity headlines and offering listeners tips to protect themselves from cybercriminals.
Available on a range of popular podcast platforms, including Apple Podcasts, Spotify, Amazon Music, Podcast Index, iHeart Radio, Pocket Casts, Deezer, Podcast Addict, Listen Notes and Podchaser, the first episode will air on “Trust in Technology—AI and Driverless Cars” where Anscombe and Bay discuss the public’s embrace and skepticism towards the technology.
“I’m excited to have Kirsten join me at Speakeasy Security – delivering a fresh perspective from her years working to help consumers, SMBs and enterprises manage cybersecurity risk,” said Tony Anscombe. “Each episode, Kirsten and I will explore how new technologies and AI advancements are impacting our personal and professional lives, and the cybersecurity and privacy implications. We will aim to make complex tech issues understandable and enjoyable, while offering practical tips and advice for both businesses and consumers.”
Bay, Co-Founder and CEO of Cysurance, is a sought-after public speaker and respected leader in the cyber insurance industry. She brings 25 years of expertise in financial services, risk intelligence and cybersecurity to the podcast in her role as co-host. Anscombe is a 30-plus year security industry expert and established author, blogger and speaker on new policies, regulations and the cybersecurity threat landscape. Speakeasy Security will also continue to feature ESET’s leading researchers and threat detection experts, as well as recognized cybersecurity influencers and guests from across the tech universe.
“I am thrilled to join Speakeasy Security as a co-host and to explore how new technologies, smart devices and privacy-focused legislations will impact society and everyday users,” said Kirsten Bay, Co-Founder and CEO of Cysurance. “My goal with Tony is to offer thought-provoking insights and practical advice to help our audience navigate and stay secure in an ever-evolving digital landscape.”
Speakeasy Security adds to ESET’s body of original content, which includes its award-winning blog WeLiveSecurity. Featuring commentary from ESET’s global security researchers, WeLiveSecurity offers in-depth knowledge of the latest threats and security trends, views and insights, video tutorials and advice for everyday internet users on how to secure data effectively. Follow the blog on Twitter at @welivesecurity and follow Anscombe at @TonyAtESET and Bay at @cyberkbay.
About ESET ESET provides cutting-edge digital security to prevent attacks before they happen. By combining the power of AI and human expertise, ESET stays ahead of known and emerging cyber threats — securing businesses, critical infrastructure, and individuals. Whether it’s endpoint, cloud or mobile protection, its AI-native, cloud-first solutions and services remain highly effective and easy to use. ESET technology includes robust detection and response, ultra-secure encryption, and multi-factor authentication. With 24/7 real-time defense and strong local support, we keep users safe and businesses running without interruption. An ever-evolving digital landscape demands a progressive approach to security: ESET is committed to world-class research and powerful threat intelligence, backed by R&D centers and a strong global partner network. For more information, visit www.eset.com or follow us on LinkedIn, Facebook, and Twitter.
TAMPA BAY, FL, Jan. 28, 2025 (GLOBE NEWSWIRE) — KnowBe4, the world-renowned cybersecurity platform that comprehensively addresses human risk management, celebrates Data Privacy Day with practical and impactful recommendations to help individuals and organizations take charge of their data security.
In an age where data is constantly collected, shared, and monetized, Data Privacy Day serves as an annual reminder about the importance of protecting and facilitating online privacy. Data Privacy Day began in the United States in January 2008 as an extension of the Data Protection Day celebration in Europe and is officially led by NCSA in North America. The National Cybersecurity Alliance has expanded it into Data Privacy Week, with the 2025 theme ‘Take Control of Your Data’, which encourages individuals to reclaim their digital autonomy through simple, actionable steps to make informed privacy choices. For organizations, the message emphasizes the need to respect and prioritize users’ data privacy.
Data privacy is more critical than ever, especially when social media platforms, AI chatbots and connected devices have increased publicly available digital footprints. This creates opportunities for the misuse of personal information and data traces which can lead to incidents of identity theft, financial fraud, and even psychological harm.
Recognizing the shared responsibility of safeguarding data, DePaula shares the 10 top tips for individuals and organizations to help take control of their data in 2025:
Tips for Individuals
Vet your apps and tools: Before using new apps, check their data usage policies, control options, and origin to ensure they are trustworthy.
Optimize IoT device privacy: Adjust settings in your IoT device apps to enhance privacy, such as disabling voice recordings, limiting data storage, or controlling ad preferences.
Educate your family: Discuss online safety with family members, especially children, covering topics like avoiding sharing personal information, recognizing suspicious links, and managing location sharing.
Set up a reputable password manager: Use it for critical accounts and generate strong, unique passwords.
Enable multi-factor authentication (MFA): Activate MFA, preferably with a FIDO token, for critical accounts as an added layer of protection.
Tips for Organizations
Minimize data collection: Only collect and store data that is essential for business operations. Eliminate unnecessary personal or payment information.
Communicate transparency in privacy policies: Clearly explain what data is collected, how it is used, and with whom it is shared.
Train employees: Educate all employees on data protection regulations, while training them to recognize the latest social engineering attacks and other security risks.
Encrypt personal data: Protect personal data—at rest and in transit—from unauthorized access or exposure.
Vet vendors and partners: As a ‘responsible party’, your organization is responsible and accountable for protecting the data of its subject – even if the processing is outsourced to third parties. Ensure that any external parties handling your organization’s data maintain a high standard of privacy and protection.
“The new year brings a wave of challenges, especially with the rapid advancements and creation of AI-driven technologies,” said DePaula. “For AI to function effectively, it relies on vast amounts of data being collected and utilized, which raises important questions about privacy, transparency, and ethics. It is up to every organization to take responsibility, not just in regards to how data is handled, but in fostering a culture of accountability. “We have an obligation to build and maintain trust as we navigate our digital landscape.”
For more insights and best practices on data privacy, visit www.knowbe4.com.
About KnowBe4
KnowBe4 empowers workforces to make smarter security decisions every day. Trusted by over 70,000 organizations worldwide, KnowBe4 helps to strengthen security culture and manage human risk. KnowBe4 offers a comprehensive AI-driven ‘best-of-suite’ platform for Human Risk Management, creating an adaptive defense layer that fortifies user behavior against the latest cybersecurity threats. The HRM+ platform includes modules for awareness & compliance training, cloud email security, real-time coaching, crowdsourced anti-phishing, AI Defense Agents, and more. As the only global security platform of its kind, KnowBe4 utilizes personalized and relevant cybersecurity protection content, tools and techniques to mobilize workforces to transform from the largest attack surface to an organization’s biggest asset.
SAN JOSE, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security and an SAP partner, is now offering customers its Zero Trust Network Access (ZTNA) service, natively integrated within RISE with SAP. Zscaler Private Access™ (ZPA™) for SAP, delivered through the Zscaler Zero Trust Exchange™ platform, helps enable SAP customers with on-prem ERP workloads to simplify and de-risk their cloud migration, without the complexity and risk associated with traditional VPNs.
As per Zscaler’s 2024 VPN Risk report, 56% of organizations have been targets of cyberattacks exploiting VPN security vulnerabilities in the last year. These incidents underscore the growing imperative to move away from traditional perimeter-based defenses towards a more robust Zero Trust architecture to enable secure access to an organization’s most critical ERP infrastructure.
By running ZPA within customers’ containerized RISE with SAP cloud environments, Zscaler can deliver native zero trust connectivity to SAP S/4HANA Cloud applications across deployment models, including multi-cloud or hybrid cloud. With this foundation, Zscaler also empowers customers with Zscaler Data Protection for compliance and Digital Experience Monitoring (DEM) with Zscaler Digital Experience™ (ZDX™) for an improved user experience.
Businesses that use RISE with SAP can leverage ZPA to benefit from:
Secure, Agile Cloud Access: RISE with SAP combines all the components that businesses need to pursue their business transformation strategies securely. With the integration of ZPA within RISE with SAP, customers can eliminate traditional firewalls and VPNs which unlocks cloud agility and improves security and compliance.
Natively supported Zero Trust protection: By provisioning Zscaler connectors natively, Zero Trust access is enabled within the RISE with SAP environment, without the need for traditional VPNs. This ensures that customers can run their technology operations in a managed, secure cloud infrastructure with built-in security and data protection.
Secure access for workforce and business partners: ZPA delivers seamless client-based and client-less Zero Trust connectivity, ensuring secure, direct access for employees and third parties from anywhere to RISE with SAP applications and resources.
Corporate, Customer and GSI Quotes
“Customers have been using the Zscaler Zero Trust Exchange to protect their SAP workloads across a large range of SAP applications for years,” said Punit Minocha, EVP, Business Development & Corporate Strategy at Zscaler. “Now, we are launching a solution that natively integrates within RISE with SAP to facilitate the secure migration of workloads to a managed service and provides improved user-friendliness by eliminating the burden of traditional firewalls and VPNs. Customers achieve application modernization while also securing remote access to business-critical applications and therefore facilitating the ‘working from anywhere’ culture that is so important to today’s workforce.”
“The integration of Zscaler Private Access with RISE with SAP enables streamlined Zero Trust security across SAP applications, providing secure access for users and partners while supporting compliance and performance, no matter where their workforce, apps or data resides,” said Roland Costea, Chief Information Security Office, SAP Enterprise Cloud Services.
“Using Zscaler Private Access platform, we can confidently enable secure, remote access to SAP resources while maintaining the flexibility and scalability needed,” said Tobias Thörmann, Network Security Architect, Volkswagen AG. “This new integrated solution that Zscaler and SAP have created is an important capability to support our digital transformation with secure cloud services.”
“Zscaler’s ZPA integration with RISE with SAP marks a significant step forward in securing and optimizing enterprise applications in the cloud,” said Georgios Billios, Group Service Manager, Siemens AG. “By seamlessly connecting users to SAP services while maintaining the highest standards of security and performance, this partnership empowers organizations to innovate and scale with confidence in today’s digital landscape, which we will evaluate in our own RISE with SAP implementations.”
“This innovative solution will enable organizations like ours to enhance the security and reliability of our SAP applications,” said Nataliia Iskra, Head of IT Security Operations, Deutsche Börse. “By enabling secure, zero-trust access to critical systems without the need for traditional VPNs, Zscaler empowers our teams to work with confidence, no matter where they are. This innovative approach reduces risk, ensures regulatory compliance, and ultimately strengthens the foundation of our IT security strategy.”
“Using Zscaler’s ZPA solution to securely access SAP applications is a strategic move for organizations aiming to fortify their enterprise security,” said Britta Simms, Managing Director, Accenture. “Moving beyond traditional perimeter defenses like VPNs allows organizations to ensure that every access request is validated based on identity, context, and risk. This continuous authentication model is essential for protecting SAP applications in the cloud, enabling organizations to embrace digital transformation while maintaining a robust security posture.”
“Modern organizations operate SAP systems across a hybrid landscape and today’s distributed workers need access to these systems from different locations,” said Sachin Singh, Managing Director, Deloitte & Touche LLP. “This new solution offered jointly by Zscaler and SAP simplifies migration of SAP applications to the cloud by allowing users to have a consistent, secure experience, no matter where these applications are hosted. With our deep technical cybersecurity knowledge and this new solution from Zscaler and SAP, we can help clients navigate data protection compliance while utilizing digital experience monitoring for optimizing user experience during the migration.”
Join us for our exclusive virtual event featuring leaders from SAP, Siemens, Volkswagen, Deutsche Börse, Deloitte, Accenture, and Capgemini, in which they will discuss the partnership in detail. Register here.
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 160 data centers globally, the SSE-based Zero Trust Exchange™ is the world’s largest in-line cloud security platform.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.
WILMINGTON, Del., Jan. 28, 2025 (GLOBE NEWSWIRE) — Bannix Acquisition Corp. (“Bannix”) (NASDAQ: BNIX), a publicly traded special purpose acquisition company, and VisionWave Technologies, Inc. (“VisionWave”), a company specializes in the development, testing, and commercialization of advanced technologies for defense, surveillance, and homeland security applications., today announced that VisionWave Holdings, Inc., a wholly owned subsidiary of Bannix (“VisionWave Holdings”), filed with the U.S. Securities and Exchange Commission (“SEC”) of a registration statement on Form S-4 (the “Registration Statement”).
The Registration Statement contains a preliminary proxy statement/prospectus in connection with the proposed business combination between VisionWave and Bannix. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about VisionWave, VisionWave Holdings, Bannix, and the proposed business combination.
CEO and Chairman of Bannix Douglas Davis, commented, “We are thrilled to reach this milestone with VisionWave as we continue the partnership. The potential of in the defense sector is immense, and this partnership positions the combined company for success. We are confident VisionWave is poised to be a leading player and are eager to continue on the path ahead.”
Transaction Overview
Under the terms of the merger agreement entered into by Bannix and VisionWave, among others, with respect to the proposed business combination, Bannix and VisionWave will merge with subsidiaries of VisionWave Holdings, a wholly owned subsidiary of Bannix that was formed for the proposed transaction (the “Merger”), with Bannix and VisionWave becoming direct wholly owned subsidiaries of VisionWave Holdings. At the effective time of the Merger, stockholders of Bannix and VisionWave immediately prior to the effective time of the Merger will receive shares of VisionWave Holdings common stock.
About Bannix Acquisition Corp.
Bannix Acquisition Corp. is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
About VisionWave Technologies Inc.
VisionWave Technologies Inc. is at the forefront of revolutionizing defense capabilities by integrating advanced artificial intelligence (AI) and autonomous solutions across air, ground, and sea domains. Its state-of-the-art innovations— ranging from high-resolution radars and advanced vision systems to radio frequency (RF) sensing technologies are seeking to redefine operational efficiency and precision for military and homeland security applications worldwide. From tactical ground vehicles to precision weapon control systems, VisionWave leads the development of reliable, high-performance technologies that transform defense strategies and deliver superior results, even in the most challenging environments. With headquarters in the U.S. and strategic partnerships in Canada and the United Arab Emigrants, VisionWave is uniquely positioned to serve global markets, offering cutting-edge defense solutions that address the evolving needs of security forces across the world.
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are based on beliefs and assumptions and on information currently available to Bannix and VisionWave, including statements regarding VisionWave’s business plans and growth strategies, market opportunities, and financial prospects. In some cases, you can identify forward looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to:
(i) the risk that the previously disclosed proposed business combination (the “proposed transaction”) may not be completed in a timely manner or at all, which may adversely affect the price of Bannix’s securities; (ii) the risk that the proposed transaction may not be completed by Bannix’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Bannix; (iii) the failure to satisfy the conditions to the consummation of the proposed transaction, including the approval of the proposed transaction by Bannix’s stockholders and the receipt of certain governmental and regulatory approvals; (iv) the failure to obtain adequate financing to support the future working capital needs of VisionWave and the combined company; (v) the outcome of any legal proceedings that may be instituted against Bannix or VisionWave related to the merger agreement and the proposed transaction; (vi) changes to the proposed structure of the proposed transaction that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the proposed transaction; (vii) the ability to maintain the listing of Bannix’s securities on Nasdaq; (viii) the price of Bannix’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which VisionWave operates, variations in performance across competitors, changes in laws and regulations affecting VisionWave’s business and changes in the combined capital structure; and (viii) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Bannix’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that are available on the website of the Securities and Exchange Commission (the “SEC”) at www.sec.gov and other documents filed, or to be filed with the SEC by Bannix and that may be found in the Registration Statement. The foregoing list of factors is not exhaustive. There may be additional risks that neither Bannix nor VisionWave presently know or that Bannix or VisionWave currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the definitive proxy statement to be filed by VisionWave Holdigns with the SEC, including those under “Risk Factors” therein, and other documents filed by Bannix and VisionWave Holdings from time to time with the SEC. 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 Bannix, VisionWave and VisionWave Holdings assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Bannix, VisionWave Holdings nor VisionWave gives any assurance that either Bannix or VisionWave will achieve its expectations.
Additional Information and Where to Find It
In connection with the proposed transaction, VisionWave Holdings filed with the SEC the Registration Statement on Form S-4, and after the Registration Statement is declared effective, VisionWave Holdings will mail a definitive proxy statement/prospectus relating to the proposed transaction to its stockholders. This press release does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. VisionWave Holdings and Bannix may file other documents regarding the proposed transaction with the SEC, and Bannix’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto, the definitive proxy statement/prospectus and the other documents filed in connection with the proposed transaction, as these materials will contain important information about VisionWave, VisionWave Holdings, Bannix and the proposed transaction. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed transaction will be mailed to stockholders of Bannix as of a record date to be established for voting on the proposed transaction and the other matters to be voted upon at a meeting of Bannix’s stockholders to be held to approve the proposed transaction and such other matters. Such stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Bannix Acquisition Corp., 300 Delaware Avenue, Suite 210#301, Wilmington, Delaware 19801 or via email at doug.davis@bannixacquisition.com.
Participants in Solicitation
Bannix, VisionWave Holdings and VisionWave, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from Bannix’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Bannix’s stockholders in connection with the proposed transaction, including the names of such persons and a description of their respective interests, is set forth in Bannix’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the Registration Statement regarding the proposed transaction when it becomes available. Stockholders will be able to obtain copies of the documents described in this paragraph that are filed with the SEC, once available, without charge at the SEC’s website at www.sec.gov, or by directing a request to Bannix Acquisition Corp., 300 Delaware Avenue, Suite 210#301, Wilmington, Delaware 19801 or via email at doug.davis@bannixacquisition.com.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Bannix, VisionWave Holdings or VisionWave, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.
Contacts
Bannix Acquisition Corp. Douglas Davis, CEO (302) 305-479
SAN FRANCISCO, Jan. 28, 2025 (GLOBE NEWSWIRE) — Today, GoodTime released its fourth annual Hiring Insights Report, a comprehensive analysis based on an independent study of over 500 U.S. talent acquisition (TA) leaders, revealing the most pressing challenges and emerging trends shaping the hiring landscape in 2025.
The report uncovers a challenging talent market where TA teams met just 47.9% of their hiring goals in 2024 on average, marking the lowest success rate recorded in the past four years. Persistent bottlenecks, increasing time-to-hire, and rising candidate expectations have strained hiring efficiency across industries.
At the same time, the report reveals key opportunities for 2025, including greater use of AI and automation, streamlined hiring tools, and a renewed focus on candidate experience — strategies that top-performing teams are already embracing to stay competitive.
Key findings from the 2025 Hiring Insights Report:
Time-to-hire challenges: 60% of organizations reported longer time-to-hire in 2024, with interview cancellations and scheduling delays identified as the top bottlenecks.
Surging AI adoption: 99% of talent acquisition teams now use AI and automation to streamline hiring processes, with 93% planning additional technology investments in 2025.
Candidate experience focus: Top-performing teams were 55% more likely to focus on candidate experience improvements.
Sector-specific insights: Healthcare was the only sector to show year-over-year improvement in hiring goal attainment (56%), while retail, manufacturing, financial services, and technology all lagged further behind.
Talent leaders eye bold moves in 2025
“The data makes it clear — talent teams can’t afford to stay stuck in the hiring struggles of 2024,” said Ahryun Moon, CEO and Co-Founder of GoodTime. “The path forward demands bold investments in automation and AI to eliminate bottlenecks and meet hiring goals faster. But efficiency alone isn’t enough. The teams that will win in 2025 are those that balance speed with exceptional, human-centric hiring experiences.”
The 2025 Hiring Insights Report shows that talent acquisition leaders are taking decisive action to improve hiring efficiency and outcomes in the year ahead, and focusing on five key areas to overcome hiring challenges:
Driving operational efficiency with AI and automation
AI and automation are now essential tools for modern talent acquisition. 99% of teams reported the use of these technologies and nearly all leaders are planning additional investments in 2025. Streamlined and automated workflows reduce administrative burdens, allowing recruiters to focus on strategic hiring efforts and improving overall operational efficiency.
Eliminating bottlenecks in the hiring process
Time-to-hire remains a critical challenge, with 60% of organizations reporting delays, largely due to interview cancellations and scheduling issues. Addressing these bottlenecks requires proactive strategies such as AI-powered analytics for identifying recurring issues, intelligent interviewer selection tools, and automated reminders and rescheduling workflows. These efforts help reduce scheduling conflicts and improve hiring speed.
Enhancing the candidate experience to stay competitive
Top-performing TA teams set themselves apart by prioritizing the candidate experience. Personalized experiences, such as branded candidate portals with real-time updates and anonymous feedback collection, keep candidates informed and engaged throughout the hiring process. Additionally, AI-driven insights help interviewers come better prepared for conversations, ensuring a smoother and more effective interview that creates a more engaging candidate experience.
Leveraging data-driven insights for better decision-making
Data and analytics have transformed hiring strategies, and nearly half of teams reported using AI-powered insights for better decision-making. Leading organizations are using these tools to detect inefficiencies, benchmark performance against industry standards, and implement real-time analytics for continuous process improvement, to make more informed decisions faster.
Committing to continuous process improvement
TA leaders emphasize the need for continuous refinement of hiring processes to stay competitive. This includes regular process audits using hiring data and feedback, ongoing interviewer training, and aligning hiring strategies with broader business goals. A culture of continuous improvement ensures hiring teams remain agile and capable of adapting to evolving market conditions.
How challenges differed across sectors
The 2025 Hiring Insights Report revealed that hiring challenges varied significantly across sectors. For example, healthcare was the only sector to report year-over-year improvements in hiring goal attainment, reaching 56%. Conversely, the retail and manufacturing sectors faced some of the highest struggles, with hiring goal attainment dipping to 36% — its lowest in three years.
The financial services and technology sectors cited interview scheduling delays and capacity issues as primary barriers to success. Companies in these sectors have increasingly adopted automated interview scheduling tools and leverage AI to manage interviewer capacity more effectively. Meanwhile, the retail sector reported a surge in candidate drop-offs due to prolonged hiring timelines, highlighting the critical need for faster, more efficient hiring processes.
The 2025 Hiring Insights Report offers further analysis and detailed recommendations for talent leaders seeking to improve hiring outcomes. The full report is available atgoodtime.io.
About GoodTime
GoodTime elevates the entire hiring experience with human-centric AI, all while automating 90% of interview management tasks. Trusted by global talent teams at companies like Hubspot, Spotify, Priceline, and Lyft, our platform not only automates interview scheduling but also keeps candidates and interviewers deeply engaged throughout the hiring journey. Gain access to powerful insights and AI-driven recommendations to streamline processes and ensure every interviewer is always well-prepared. The result? Exceptional hiring experiences that consistently land you top talent.
Learn more at goodtime.io.
Media Contact
For more information or to arrange an interview with Ahryun Moon, please contact: Jake Link press@goodtime.io
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The Federal Financial Supervisory Authority (BaFin) again warns consumers about the company AuraSwiss and the services it is offering. BaFin has already issued a warning, on 3 January 2025, about AuraSwiss and its website auraswiss.net, which has since been deactivated. The unknown operators are now using the nearly identical website auraswiss.co. BaFin suspects the operators of the websites of offering consumers financial, investment and cryptoasset services without the required authorisation.
The content of the websites is identical to other platforms that BaFin has previously warned consumers about and that display the same opening sentence: “Invest in Success Prosper with Confidence!”
Anyone conducting banking business or providing financial, investment or cryptoasset services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomaerkteaufsichtsgesetz).
Please be aware:
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
Source: Africa Press Organisation – English (2) – Report:
CAIRO, Egypt, January 28, 2025/APO Group/ —
University lecturers, students, and researchers affiliated with National Research Institutions invited to participate and showcase their publications and prototypes at IATF2025.
Afreximbank (www.Afreximbank.com), in collaboration with African Union Commission and AfCFTA Secretariat, is excited to launch its new initiative the “African Research and Innovation Hub @IATF”, during the 4th Intra-African Trade Fair (IATF2025). The key objective is to boost academic research output and increase collaboration between academia, industry, and policy makers across Africa in the bid to drive forward intra-African trade and industrialisation.
The platform aims to provide an opportunity for African, Caribbean and Diaspora lecturers, students, and researchers to showcase innovative research and prototypes that contribute towards intra-African trade and industrialisation. It also seeks to develop industry collaborations and exchange knowledge with leading professionals in the field during IATF2025 in Algiers, Algeria from September 4-10, 2025.
The African Research and Innovation Hub @IATF aims to promote and commercialise African research and innovation. It also acknowledges that there are many talented and creative Africans across Africa, the Caribbean and the Diaspora, who have brilliant ideas, concepts, publications and prototypes but lack the relevant support required to help them nurture their ideas and commercialise them.
The platform provides access to more comprehensive information, relevant data, and literature whilst exposing national researchers to potential investors or venture capitalists who could assist with commercialising their research output and prototypes.
A key objective of the Hub is to encourage innovation and entrepreneurship among lecturers and students by connecting them to trade exhibitions, start-up pitches, and networking opportunities with business leaders, potentially leading to new start-ups and increased academic-industry collaborations. It also provides opportunities for networking and potential collaboration with others in academia and practitioners across the continent, research institutions, industry, and policymakers.
Researchers, academics and university students are provided with access to information on emerging issues in the field of intra-African trade and can incorporate these into their research programs and academic curricula. Lastly, it enhances the capacity of lecturers and students in understanding and teaching the complexities of trade policies, trade standards, regional economic communities, the African Continental Free Trade Area (AfCFTA) and industrialisation.
The hub aims to support the broader objectives of enhancing intra-African trade, fostering economic development, and building a connected, informed, and empowered next generation of African trade and investment leaders across all fields. This hub will allow students to exhibit their prototype inventions and published research papers on select topics, which are expected to adhere to world-class standards.
Mrs. Kanayo Awani, Executive Vice President Intra-African Trade and Export Development at Afreximbank said: “IATF2025 is an important moment for African research and innovation, bringing together the brightest minds from universities and research institutions to contribute towards promoting intra-African trade and industrialisation. The African Research and Innovation Hub @IATF will serve as a groundbreaking platform for African, Caribbean and Diaspora lecturers, students, and researchers to demonstrate their capabilities, and connect with industry leaders, investors, and policymakers. This is more than an opportunity to display research; it’s a unique moment to shape the future of intra-African trade and industrialisation to drive economic growth across the continent.”
Entries will be judged by a panel consisting of distinguished trade experts, scholars, and industry leaders from across Africa. The panel will evaluate submissions based on innovation, relevance to African trade and industrialisation, and the potential for practical application.
Candidates should demonstrate a number of key criteria – including academic excellence and a passion for advancing research on intra-African trade, industrialisation, leadership and initiative in projects related to trade, industrialisation and innovation, and regional economic integration; high-quality research outputs or innovative prototypes aligned with IATF’s themes and a commitment to furthering knowledge and collaboration by sharing insights from the event with their academic institutions.
University Lecturers, University Students, and Researchers Affiliated with National Research Institutions from Africa, the Diaspora including the Caribbean are invited to submit their applications directly through this email: ARIH@intrafricantradefair.com by 28 March 2025, 23:59 GMT.
You can find out the eligibility criteria, application requirements and other details on the IATF2025 website: https://apo-opa.co/3EeHRvj
Considering the effect of poor sleep on the individual as well as on society and the economy, it is hardly surprising sleep has become an intense area of research focus in recent years. Most recently we have seen an increase in the offering of and appetite for so-called sleep retreats. But what are sleep retreats and are they helpful?
As with any specialised retreat, there is no set formula for what a sleep retreat should focus on. As such, the range of what is available is incredibly variable, from retreats that just focus on a sleep-friendly environment (a cool, dark, quiet and comfortable bedroom in a luxurious location) to ones specifically aimed at managing a specific sleep disorder, using evidence-based therapies, such as cognitive behavioural therapy for insomnia.
There are even ones that provide, among other things, a regimen of vitamins and minerals delivered intravenously. Most, however, fall somewhere between focusing on meditation, exercise and relaxation.
Although there is good evidence that exercise, at the right intensity and duration, can be beneficial for sleep, it is unlikely that a lack of exercise alone causes poor sleep.
The main challenge is that sleep, as with diet or exercise, is just an overarching term for a complex behaviour, one that is influenced and can influence almost every area of a person’s life. For example, I am hearing a lot about supplementing with magnesium to aid sleep, but this is only likely to be beneficial if you are deficient in the first place.
What to consider before you splash the cash
So, should we approach the sleep retreat with caution? Not necessarily, it is more a case of doing your homework.
First, who does the sleep retreat cater for, and what do you hope to get from the retreat? The busy executive who only allows themselves four hours of sleep a night will have very different expectations and experiences to a person who has undiagnosed sleep apnoea and sleeps for nine hours but wants to know why they are so sleepy during the day.
This leads to the second consideration: what kind of pre-screening (for conditions that might be causing insomnia) and personalisation do they offer?
Many retreats advertise an individual consultation as part of the package but don’t really say what that will cover (a sleep, medical and psychiatric history and lifestyle assessment should be done as a bare minimum. This is vital when we consider that while well-established, evidence-based treatments for a variety of sleep disturbances and disorders exist, they are not suitable for everyone.
Also, there is a perception that non-pharmacological therapies, including nutraceuticals (products derived from food sources that said to have health benefits) and over-the-counter remedies (such as antihistamines, melatonin and valerian), don’t have side-effects, which is not necessarily the case.
The final considerations are: who is delivering the retreat? And is what they are offering based on sound scientific evidence?
Considering certification in sleep medicine is a hot topic in the sleep community at the moment, it is worth doing some research. For example, in the UK there is no pathway to becoming a sleep medicine specialist, consultant or coach. So who is leading the sleep retreat and is what they offering evidence-based?
Jason Ellis has consulted to Kayak on Sleep Tourism.
Campaigns and social media often encourage people to make eco-friendly choices like using less plastic or driving less. While these actions are important, focusing so much on what people do can distract from the much larger role that businesses and governments play in causing and solving environmental problems.
For example, some campaigns promote a “net zero hero” narrative that implies that people should take the lead in fighting climate change by changing their behaviour, recycling more, taking fewer flights or eating less meat.
While personal actions can help, there’s a danger this way of thinking can put too much responsibility on consumers. These individual actions are not enough to solve the problem.
By focusing so much on personal responsibility, we risk ignoring the systemic changes needed to address the climate crisis. These include switching to renewable energy on a large scale, enforcing strict industrial regulations and redesigning cities to reduce dependence on fossil fuels.
Without these bigger steps, taken by governments and large organisations, we can’t make real progress in tackling climate change.
Energy companies and trade groups have been particularly good at shifting blame to consumers. They promote products and habits that claim to lower personal carbon footprints while lobbying against strong environmental laws that would require real emission cuts from industries.
Indeed, the carbon footprint calculator itself was developed in 2004 by a public relations firm working for BP. The tool encouraged individuals to calculate their personal impact on the environment, focusing on activities like driving, energy use, and diet.
According to reports on the campaign’s origins, this approach was part of a deliberate strategy to shift public attention away from the significant environmental harm caused by corporations, particularly the fossil fuel industry.
Despite this narrative, many corporations have failed to address their own emissions. A recent study found that only 60% of companies met their 2020 emissions targets, and 31% failed to report any outcomes.
This lack of accountability highlights how many major companies neglect their responsibilities, raising serious concerns about their commitment to 2030 climate goals.
These tactics maintain the status quo and creates a cycle of guilt and failure for consumers. Many people feel overwhelmed, leading to demotivation and even climate anxiety.
In my research into climate communication, I see how stories of guilt resonate with communities already facing misplaced blame. For example, in workshops with groups affected by austerity, people often felt guilty for not helping others more.
Over time, they realised this was due to failures in governance, not personal shortcomings. They saw a similar pattern in the climate crisis, learning to separate personal guilt from the larger roles of corporations and governments.
As a climate researcher and communicator, my job is to help move the conversation from personal guilt to shared responsibility and accountability. This shift empowers people as citizens, not just consumers, to demand action from leaders and industries.
Understanding that while personal responsibility is meaningful, the real power to create change lies with corporations and governments is vital. We need systemic change, not consumer guilt.
To tackle the climate crisis, we must make personal choices that reflect care for the environment. But we must also work together to demand that companies and governments adopt sustainable practices, for example through voting for leaders who prioritise environmental reform. The path to a sustainable future is collective action – not carrying the weight of guilt alone.
Don’t have time to read about climate change as much as you’d like?
Sam Illingworth 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.
