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Andrew Hammond Christmas holidays tend to be a time of joy for many families around the world. However, this year’s festivities will also be tinged with great sadness for many as the world on Thursday (Dec. 26) marks the 20th anniversary of the devastating Boxing Day Tsunami. Two decades on from the deadly waves, caused by a massive earthquake, that caused devastation in countries with Indian Ocean coastlines, scientific advances have improved our ability to forecast and provide warnings of dangerous tsunamis. However, the economic and wider human costs of such natural catastrophes can never be completely eliminated. This was illustrated, for example, by the concern caused by a magnitude 7.0 earthquake this month about 55 miles off the coast of Eureka in California. The effects were felt from San Francisco to southern Oregon, sparking a tsunami warning affecting millions of residents. The alert was later canceled. Tsunami warnings are relatively rare on the US West Coast but still more common than elsewhere in the country. However, some scientists predict the area might be overdue for a massive quake, and resulting tsunami, in the Cascadia Subduction Zone, an 1,100 km offshore fault that runs from northern California to southern British Columbia, and/or the San Andreas fault, which runs for 1,200 km through California. Some scientists refer to this potentially huge natural disaster as “The Big One,” defined as an earthquake of magnitude 8.0 or higher on the Richter scale. Such an event could cause hundreds of billions of dollars of damage, and tens of thousands of deaths and injuries at the very least. But even a disaster of that magnitude might still be dwarfed by the devastation caused by the 2004 Boxing Day Tsunami in the Indian Ocean. According to the EM-DAT global disaster database, it killed a total of 226,408 people in more than a dozen countries, and more than 1.5 million people were displaced. The magnitude 9.1 earthquake that caused the tsunami was one of the biggest the world had seen since 1900. The epicenter was off the western coast of the Indonesian island of Sumatra. It was the longest fault line rupture ever observed, as the ocean floor opened up along a distance of at least 1,200 km between the India plate and Burma microplate. The earthquake triggered the largest tsunami in the Indian Ocean for more than 700 years. The amount of energy it released was estimated to be equivalent to about 23,000 Hiroshima bombs. The huge waves it created, some more than 30 meters high, swept into several coastal nations, including Indonesia, Sri Lanka, India and Thailand. Twenty years on, the silver lining amid the sadness of the upcoming anniversary is that our understanding of tsunami risks is now better. This means better forecasting, more effective warnings, and improved disaster-resistant construction techniques for more-resilient infrastructure. In terms of warning systems, there were none in place in the Indian Ocean region in 2004. The picture has changed since then, with a regional system in place as part of an approximately 1,400-strong network around the world that generally reduces the delay in issuing a warning after a tsunami forms to just minutes. Even with such improved warning systems, some communities still might not receive the alert in time. Indeed, had the present-day Indian Ocean warning system been in place in 2004, it is not certain it would have helped many of those among the first hit by the tsunami, especially in poorer communities lacking the benefit of modern digital technologies. In part, this is why a significant proportion of tsunami casualties tend to happen before any official or technically based warnings can be delivered. This differs from some other natural hazards, such as hurricanes, which can be predicted further in advance and tend to cause fewer casualties. However, for people more distant from the origin point of a tsunami, warnings can be very effective, including those transmitted through community communications. These can save many lives, with a key factor in success being the distribution of data rapidly, transparently, and hyper-locally, so that it is available in the best form, in the right place and as quickly as possible. As warning systems improve, there are continuing debates about the enhanced exchange of data. This places an increasing amount of weight on improved forecasts. Such methods of predicting earthquakes in advance were once thought to be impossible, owing to the difficulty of calculating the motion of rocky mantle flows beneath the earth’s crust. Thanks to increasingly sophisticated algorithms, however, it might now be possible to model this underground activity in more effective ways by creating a model of fault lines, consisting of millions of underground grid points, to ascertain where the underground stresses are strongest. This is a potential indicator of key earthquake trigger points. However, even if forecasting technology and early warnings can fulfill their full longer-term potential, there is still a need for increasingly resilient infrastructure, given the devastation tsunamis can cause to physical geography. Take the example of the province of Aceh in Indonesia, one of the areas worst-hit by the 2004 tsunami. Hundreds of thousands of homes were destroyed and about 3,000 hectares of land were washed away, destroying infrastructure such as roads, ports, and bridges. More than 100,000 houses have been rebuilt there, according to the Indonesian government. In this context, a key goal for engineers and community planners is to build increasingly tsunami-proof structures and plan more-resilient communities. As global warming intensifies, these calculations must also factor in the growing risk from rising sea levels, a threat that is increasing three times faster in tropical seas — including central portions of the Pacific and Atlantic Oceans and much of the Indian Ocean — where tsunami risks tend to be greatest. All of this underlines the further potential for improved forecasting and earlier warnings of future tsunamis to help make the world a safer place for many people. However, the economic and wider human cost of such terrifying natural hazards can never be eliminated, even with increasingly resilient infrastructure. Courtesy: arabnewsThe year is almost over, and it's time to make some bold predictions for 2025. In this article, three Motley Fool contributors draw on their experience to forecast what may be in store for the stock market next year. Here's what they have to say about Artificial Intelligence (AI) software stocks , Ark Innovation ETF , the Magnificent Seven , and more! Prediction: AI software stocks will rock and roll in 2025 Jake Lerch (AI software stocks): My prediction is that 2025 will be the year of software stocks. Think about it: Hardware stocks were some of the top-performing stocks of 2024. Semiconductor companies like Nvidia , Broadcom , and ARM Holdings saw their stocks skyrocket as demand for high-powered chips went through the roof. However, as the calendar turns from 2024 to 2025, I predict that the stock market may begin to shift its attention away from chip stocks and toward software stocks like SoundHound AI and Palantir . Indeed, over the last few months, a shift has already started, with the stocks of application-makers like SoundHound and Palantir outpacing semiconductor stocks like Nvidia and AMD. NVDA data by YCharts What's more, some of these software companies remain relatively small in terms of market cap. As of this writing, SoundHound AI sports a market cap of about $8 billion. That makes it a potential acquisition target for deep-pocketed tech mega-caps . For example, Meta Platforms has over $70 billion in cash on hand -- more than enough to snap up SoundHound with tens of billions in cash left over. But it's not just the upstarts that could benefit from the shifting focus to software. Companies in the digital advertising and digital learning spaces could also benefit as stock market participants look beyond AI hardware to some of its practical applications. Reddit is testing an AI-powered answering tool that could help the company draw more users -- and ad dollars. Learning app Duolingo is expanding beyond language learning by incorporating music and math lessons. Those new lessons -- powered by AI -- will help Duolingo attract more users and subscribers. In short, the everyday uses of AI are nearly limitless -- and they're just starting to roll out. Because of that, I predict 2025 will be the year that AI-powered software shines bright. Prediction: The broadening of the tech rally will boost this ETF Will Healy (Ark Innovation ETF): Although many investors profited from the latest bull market, the rally was not broad-based. Instead, most of the benefit went to the top stocks. One can see this when comparing the performance of the S&P 500 over the last two years to that of the Russell 2000 . ^SPX data by YCharts This has worked against Cathie Wood's Ark Innovation ETF ( ARKK 2.11% ) , as most of its holdings are not S&P 500 stocks. The ETF is up by just over 20% this year, and all of that gain occurred following the U.S. presidential election. Fortunately for Ark Holdings, many of these stocks left behind by the current rally seemed to move off their lows in recent weeks. As interest rates fall and post-election optimism rises, this should bode well for Cathie Wood's flagship ETF. To see this, one only has to look at its holdings. Of its top 10 positions, only Tesla (NASDAQ: TSLA) and Palantir (NASDAQ: PLTR) are S&P 500 stocks. However, the recovery is now trickling down to the non-S&P holdings. For example, its second-largest holding, Roku (NASDAQ: ROKU) , makes up more than 9% of the fund and appeared to miss most of the current tech rally. While Roku is still more than 80% lower than its 2021 high, its stock has risen by over 60% from its August low, an improvement helping the Ark Innovation ETF. The improvement is more profound for fourth place holding Roblox (NYSE: RBLX) , which is around 6% of the Ark Innovation ETF. Although that stock has stagnated since the 2022 bear market, it has doubled in value from its May low. The rally started even earlier for a stock that is 5% of the fund, Robinhood Markets (NASDAQ: HOOD) , which is up over 240% this year! Such improvements are indicators that the tech rally has finally moved beyond the Magnificent Seven and other top stocks. As we move into 2025 and the rest of the tech sector finally begins to rally, a long-awaited recovery for the Ark Innovation ETF appears to be at hand. Prediction: Valuations in some of the popular mega-cap technology stocks will start turning over Justin Pope (Magnificent Seven): Anyone with investment exposure to the Magnificent Seven stocks, including Apple , Alphabet , Amazon , Meta Platforms , Microsoft , Nvidia, and Tesla, has likely enjoyed the past two years. The Magnificent Seven represents approximately 32% of the S&P 500 index, so their widespread outperformance has helped carry the stock market. My 2025 prediction is that some of these names will start running out of steam. These companies lead or compete in a handful of high-growth end markets, including e-commerce , digital advertising , cloud computing , semiconductors, artificial intelligence (AI), robotics , and more. If you're investing for the long term, the Magnificent Seven should still be a winning choice. However, some of these companies have risen so much that their valuations have gotten ahead of the underlying businesses, which could lead to a down year for some big names in 2025. For example, Apple's AI tech, Apple Intelligence, may not be the home run investors hoped for. Yet, the stock trades at 34 times earnings despite analysts forecasting under 10% annualized long-term growth. That's a pretty steep valuation. Tesla has rallied hard since the presidential election but trades at 177 times its earnings despite soft sales in its core vehicle business. Analysts estimate Tesla will grow earnings by 8% annually over the next several years, which is nowhere near enough to justify such a high price-to-earnings (P/E) ratio. Some Magnificent Seven names could keep running next year. Alphabet and Meta trade at P/E ratios of 24 and 27, respectively. Meanwhile, analysts believe they will each grow earnings by 16% to 18% annually over the long term. That's far more growth at a better price than you're getting from Apple and Tesla. The bottom line? Investors should pay close attention to the growth they're getting and the price they pay for it. Indiscriminately buying the Magnificent Seven has worked for two years, but that trend may soon end.Net proceeds to be used towards partial repayment of the Company's senior secured non-convertible debentures issued in July 2023 MONTREAL , Dec. 5, 2024 /PRNewswire/ - The Lion Electric Company (NYSE: LEV ) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today that it has reached a definitive agreement with Aéroport de Montreal to sell its innovation center facility located in Mirabel , Québec, for a purchase price of C$50,000,000 , subject to customary purchase price adjustments and closing conditions. All of the net proceeds from the transaction are intended to be used towards the partial repayment of the Company's senior secured non-convertible debentures issued in July 2023 , holders of which currently benefit from a first ranking hypothec over the immovable/real rights related to the innovation center facility. As a result, while the transaction is expected to reduce the Company's long-term indebtedness, it will not impact the Company's short term liquidity and cash position. Closing of the transaction is expected to occur before the end of 2024, subject to the satisfaction of customary closing conditions. ABOUT LION ELECTRIC Lion Electric is an innovative manufacturer of zero-emission vehicles, including all electric school buses. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles' components, including chassis, battery packs, truck cabins and bus bodies. Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life. Lion shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV. CAUTION REGARDING FORWARD-LOOKING STATEMENTS This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"), including statements regarding the transaction, the satisfaction of applicable closing conditions and the expected timing to closing, statements about Lion's beliefs and expectations and other statements that are not statements of historical facts. Forward-looking statements may be identified by the use of words such as "believe," "may," "will," "continue," "anticipate," "intend," "expect," "should," "would," "could," "plan," "project," "potential," "seem," "seek," "future," "target" or other similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements may contain such identifying words. The forward-looking statements contained in this press release are based on a number of estimates and assumptions that Lion believes are reasonable when made. Such estimates and assumptions are made by Lion in light of the experience of management and their perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. For additional information on estimates, assumptions, risks and uncertainties underlying certain of the forward-looking statements made in this press release, please consult section 23.0 entitled "Risk Factors" of the Company's annual management's discussion and analysis of financial condition and results of operations (MD&A) for the fiscal year 2023 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission, including the Company's interim MD&As. Many of these risks are beyond Lion's management's ability to control or predict. All forward-looking statements attributable to Lion or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained and risk factors identified in the Company's annual MD&A for the fiscal year 2023 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Except as required under applicable securities laws, Lion undertakes no obligation, and expressly disclaims any duty, to update, revise or review any forward-looking information, whether as a result of new information, future events or otherwise. See section 2.0 of the Company's interim management's discussion and analysis for the three and nine months ended September 30, 2024 (the "Interim MD&A"), entitled "Basis of Presentation," section 15.0 of the Company's Interim MD&A entitled "Liquidity and Capital Resources," and note 2 of the Company's unaudited condensed interim consolidated financial statements as at September 30, 2024 and for the three and nine months ended September 30, 2024 and 2023 which indicate the existence of material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. SOURCE The Lion Electric Co.
FILE – Former President Jimmy Carter stands behind his birthday cake during his 90th birthday celebration held at Georgia Southwestern University, Oct. 4, 2014, in Americus, Ga. (AP Photo/Branden Camp, File) ATLANTA (AP) — Jimmy Carter, the peanut farmer who tried to restore virtue to the White House after the Watergate scandal and Vietnam War, then rebounded from a landslide defeat to become a global advocate of human rights and democracy, has died. He was 100 years old . The Carter Center said the 39th president died Sunday afternoon, more than a year after entering hospice care, at his home in Plains, Georgia, where he and his wife, Rosalynn, who died in November 2023, lived most of their lives. The center said he died peacefully, surrounded by his family. A moderate Democrat, Carter ran for president in 1976 as a little-known Georgia governor with a broad grin, effusive Baptist faith and technocratic plans for efficient government. His promise to never deceive the American people resonated after Richard Nixon’s disgrace and U.S. defeat in southeast Asia. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . “If I ever lie to you, if I ever make a misleading statement, don’t vote for me. I would not deserve to be your president,” Carter said. Carter’s victory over Republican Gerald Ford, whose fortunes fell after pardoning Nixon, came amid Cold War pressures, turbulent oil markets and social upheaval over race, women’s rights and America’s role in the world. His achievements included brokering Mideast peace by keeping Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin at Camp David for 13 days in 1978. But his coalition splintered under double-digit inflation and the 444-day hostage crisis in Iran. His negotiations ultimately brought all the hostages home alive, but in a final insult, Iran didn’t release them until the inauguration of Ronald Reagan, who had trounced him in the 1980 election. Humbled and back home in Georgia, Carter said his faith demanded that he keep doing whatever he could, for as long as he could, to try to make a difference. He and Rosalynn co-founded The Carter Center in 1982 and spent the next 40 years traveling the world as peacemakers, human rights advocates and champions of democracy and public health. Awarded the Nobel Peace Prize in 2002, Carter helped ease nuclear tensions in North and South Korea, avert a U.S. invasion of Haiti and negotiate cease-fires in Bosnia and Sudan. By 2022, the center had monitored at least 113 elections around the world. Carter was determined to eradicate guinea worm infections as one of many health initiatives. Swinging hammers into their 90s, the Carters built homes with Habitat for Humanity. The common observation that he was better as an ex-president rankled Carter. His allies were pleased that he lived long enough to see biographers and historians revisit his presidency and declare it more impactful than many understood at the time. Propelled in 1976 by voters in Iowa and then across the South, Carter ran a no-frills campaign. Americans were captivated by the earnest engineer, and while an election-year Playboy interview drew snickers when he said he “had looked on many women with lust. I’ve committed adultery in my heart many times,” voters tired of political cynicism found it endearing. The first family set an informal tone in the White House, carrying their own luggage, trying to silence the Marine Band’s traditional “Hail to the Chief” and enrolling daughter, Amy, in public schools. Carter was lampooned for wearing a cardigan and urging Americans to turn down their thermostats. But Carter set the stage for an economic revival and sharply reduced America’s dependence on foreign oil by deregulating the energy industry along with airlines, trains and trucking. He established the departments of Energy and Education, appointed record numbers of women and nonwhites to federal posts, preserved millions of acres of Alaskan wilderness and pardoned most Vietnam draft evaders. Emphasizing human rights, he ended most support for military dictators and took on bribery by multinational corporations by signing the Foreign Corrupt Practices Act. He persuaded the Senate to ratify the Panama Canal treaties and normalized relations with China, an outgrowth of Nixon’s outreach to Beijing. But crippling turns in foreign affairs took their toll. When OPEC hiked crude prices, making drivers line up for gasoline as inflation spiked to 11%, Carter tried to encourage Americans to overcome “a crisis of confidence.” Many voters lost confidence in Carter instead after the infamous address that media dubbed his “malaise” speech, even though he never used that word. After Carter reluctantly agreed to admit the exiled Shah of Iran to the U.S. for medical treatment, the American Embassy in Tehran was overrun in 1979. Negotiations to quickly free the hostages broke down, and then eight Americans died when a top-secret military rescue attempt failed. Carter also had to reverse course on the SALT II nuclear arms treaty after the Soviets invaded Afghanistan in 1979. Though historians would later credit Carter’s diplomatic efforts for hastening the end of the Cold war, Republicans labeled his soft power weak. Reagan’s “make America great again” appeals resonated, and he beat Carter in all but six states. Born Oct. 1, 1924, James Earl Carter Jr. married fellow Plains native Rosalynn Smith in 1946, the year he graduated from the Naval Academy. He brought his young family back to Plains after his father died, abandoning his Navy career, and they soon turned their ambitions to politics. Carter reached the state Senate in 1962. After rural white and Black voters elected him governor in 1970, he drew national attention by declaring that “the time for racial discrimination is over.” Carter published more than 30 books and remained influential as his center turned its democracy advocacy onto U.S. politics, monitoring an audit of Georgia’s 2020 presidential election results. After a 2015 cancer diagnosis, Carter said he felt “perfectly at ease with whatever comes.” “I’ve had a wonderful life,” he said. “I’ve had thousands of friends, I’ve had an exciting, adventurous and gratifying existence.” Want stories like this delivered straight to your inbox?Stay informed. Stay ahead. 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Jimmy Carter, the 39th US president, has died at 100
Kane hat trick against Augsburg hides Bayern's concerning lack of goalsChangi Experience Studio is collaborating with Le Petit Chef to host a travel-themed dining experience at Jewel Changi Airport. The event will run till Apr. 30, 2025. A post shared by Singapore Changi Airport (SIN) (@changiairport) A post shared by Jewel Changi Airport (@jewelchangiairport) Immersive dining experience This unique dining event will combine a multi-sensory dining concept with a global travel theme. Photo by Reinald Goh. It offers guests an interactive and immersive meal in the one-of-a-kind setting of the studio. Le Petit Chef uses 3D mapping technology to project engaging animations onto the dining table and plates. Photo courtesy of Changi Airport Group. A tiny chef guides guests through the meal, bringing each course to life with playful animations. Photo by Reinald Goh. Photo by Reinald Goh. Photo by Reinald Goh. As diners have their meal, they are virtually transported to global destinations to experience the unique flavours and cultures of each location. Photo by Reinald Goh. Photo by Reinald Goh. Photo by Reinald Goh. The concept is originally from France and blends fine dining with theatrical storytelling. Before or after the meal, guests can explore Changi Experience Studio, an airport-themed digital attraction offering a variety of interactive experiences. Photo courtesy of Changi Airport Group. Photo courtesy of Changi Airport Group. The studio features immersive shows, digital exhibits and interactive games. Pricing Guests can choose from lunch, tea-time or dinner shows. A kids menu is available too. Seasonal menus will be offered during festive periods such as Christmas, Chinese New Year, and Valentine’s Day. No pork or lard is used. Here how much you can expect to pay: Here's what we tried from the Le Petit Classic Menu: Mexican-style tomato soup with red onion julienne and served with pico de gallo on toast. Photo by Reinald Goh. Photo by Reinald Goh. Aburi tiger prawns with garlic oil, romesco gremolata, saffron mayo and cucumber pappardelle. Photo by Reinald Goh. Wing roulade chicken farce, mashed potato, baby spinach and truffle jus. Photo by Reinald Goh. Poached mekajiki with kombu broth, shitake mushrooms, sesame chilli oil, daikon, spring onion and goji berry. Photo by Reinald Goh. A modern take on orh nee (yam paste) with pandan coconut foam, sable, meringue, hibiscus and popping candy. Photo by Reinald Goh. For more information and to make a reservation, visit the official website . Le Petit Chef Address: Jewel Changi Airport, 78 Airport Boulevard, S819666 Operating hours: Top images via Changi Airport Group.
US to Provide $225M for Bosch’s California Chip Factory
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