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Finance Minister Vows Active Measures to Curb FX Market Volatility if Necessary

[Economy] :
Finance Minister Choi Sang-mok said Thursday that the government will take “active measures” in the event of excessive volatility in the foreign exchange market, as the South Korean won weakened past the psychological threshold of 14-hundred won against the U.S. dollar. The minister made the “verbal ...

[more...]




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Crystal structure of 1,10-phenanthrolinium violurate violuric acid pentahydrate

The title compound [systematic name: 1,10-phenanthrolinium 6-hydroxy-5-(oxidoimino)-1,3-diazinane-2,4-dione–6-hydroxy-5-(hydroxyimino)-1,3-diazinane-2,4-dione–water (1/1/5)], C12H9N2+·C4H2N3O4−·C4H3N3O4·5H2O, is a co-crystal salt hydrate comprising 1,10-phenanthrolinium cations, violurate anions, free violuric acid as co-former and five water molecules of crystallization per formula unit. The violurate and the violuric acid residues each form distinct N—H...O hydrogen-bonded tapes with a common R22(8) hydrogen-bond motif extending parallel to (103). Solvent water molecules connect the tapes to form a tri-periodic hydrogen-bonded network with channels extending parallel to the a-axis direction, which accommodate the N—H...Owater hydrogen-bonded 1,10-phenanthrolinium cations. Direct N—H...O hydrogen bonds between the 1,10-phenanthrolinium and violurate ions are not encountered.




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Financing Milestone Paves Way for Next Phase in Gold Project Development

Source: Streetwise Reports 11/12/2024

NexGold Mining Corp. (NEXG.V:TSXV; NXGCF:OTCQX; TRC1.F:FRA)and Signal Gold Inc. have successfully closed their previously announced oversubscribed and upsized concurrent financing. Read more as NexGolds acquisition of Signal Gold sets the stage for near-term production with combined resources and capital driving project development.

NexGold Mining Corp. (NEXG.V:TSXV; NXGCF:OTCQX; TRC1.F:FRA) and Signal Gold Inc. have successfully closed their previously announced oversubscribed and upsized concurrent financing, generating a total of US$18.5 million. Initially disclosed in joint announcements from both companies on October 10 and October 23, 2024, this financing is part of a larger plan in which NexGold will acquire all shares of Signal Gold to combine both companies' gold projects to create a near-term gold developer.

The financing involved two components. The first was a flow-through (FT) unit private placement by NexGold, which raised CA$8.085 million through the sale of 10,106,250 FT units at CA$0.80 per unit. Each unit includes one flow-through common share and half of one purchase warrant, allowing the holder to buy an additional non-flow-through share at CA$1.05 for the next two years. In the second component, Signal Gold's private placement of subscription receipts yielded CA$10.45 million by issuing 120,075,840 receipts at CA$0.08705 each. These receipts will convert into Signal units once specific escrow release conditions are met, including completion of the acquisition. Each unit consists of one common share and half a purchase warrant, allowing the holder to acquire additional shares for CA$0.11818 over two years.

The net funds from this financing will be used to retire debt, fund the exploration and development of both companies' gold projects - including NexGold's Goliath gold complex in Ontario and Signal's Goldboro project in Nova Scotia - and for general corporate purposes. The gross proceeds from FT units will go toward qualified exploration expenses for NexGold's projects, with renunciation planned by December 31, 2024, as per Canadian tax requirements.

Investor interest included an acquisition by a Sprott Asset Management sub-advised fund, which purchased 2.5 million FT units for CA$2 million, bringing Sprott's holdings to 11.43% of NexGold's issued shares (14.95% on a partially diluted basis). NexGold also extended an investor awareness agreement with i2i Marketing Group, providing up to six months of marketing services for CA$250,000 to increase investor visibility.

Gold Rush

Gold's surge to the US$2,800 mark due to a "perfect storm" of factors, according to an October 29 report from Kitco. Gary Wagner explained that this historic rise, approximately 35% this year, was driven by geopolitical tensions, anticipated Federal Reserve rate cuts, consistent central bank demand, and U.S. political uncertainty in the run-up to the presidential election.

Chen Lin offered a positive outlook on NexGold, noting heightened investor interest following recent updates, including expanded financing and merger plans.

Wagner noted that "geopolitical, political conflicts" and "uncertainties about the outcome of the upcoming presidential election" were critical components, with emerging market central banks increasing their gold reserves to reduce reliance on the U.S. dollar.

On October 30, LiveMint highlighted gold's global appeal. The article mentioned how central banks continue to expand their gold reserves, with net buying reaching 337 tonnes in Q3 2023.

This marks a near-record level, according to the World Gold Council. Escalating geopolitical tensions, especially in the Middle East, have also led investors to seek gold as a safe haven, pushing prices upward. In addition, strong economic data in the U.S., such as job growth and consumer spending, has affected expectations around Federal Reserve policies. These, in turn, have indirectly influenced gold.

By November 4, Egon von Greyerz, in his analysis of the global financial system, emphasized gold as a reliable store of value. He argued that "gold has always stood as a protector" during economic downturns, describing the asset as "the best-performing asset class in this century." Von Greyerz asserted that gold's continued strength could be attributed to its resistance to the "destruction of fiat money," making it an essential wealth-preserving asset in an increasingly unstable financial environment.

The Catalysts Pushing NexGold Forward

NexGold's acquisition of Signal Gold is expected to accelerate its growth as a mid-tier gold producer. According to NexGold's September 2024 investor presentation, this financing supports the ongoing development of the Goliath Gold Complex in Northern Ontario, which holds a combined measured and indicated gold resource of over 2.1 million ounces. Additionally, Signal's Goldboro project in Nova Scotia adds strategic value with historical production potential and significant exploration upside.

The Goliath project benefits from robust infrastructure, an approved environmental assessment, and a promising pre-feasibility study indicating a post-tax NPV of CA$336 million at US$1,750/oz gold. With this acquisition, the combined entity is expected to leverage its enhanced capital position to pursue further exploration and optimization, aiming for near-term production and establishing a solid platform for growth and consolidation in the Canadian gold sector.

What Are Experts Saying?

Ron Stewart, a mining analyst at Red Cloud Securities, maintained a Speculative Buy rating on NexGold with a target currently Under Review in his September analysis. Stewart stated that the merger with Signal Gold offered NexGold an accretive pathway to growth by adding the Goldboro project's resources to its portfolio. He noted that the combined assets of NexGold and Signal would form a "multi-asset company with over 6 million ounces in gold resources," which he described as synergistic and favorable for shareholders. Stewart anticipated the merger would close in Q4 2024, with upcoming catalysts including the Goliath Feasibility Study in Q1 2025 and a potential construction decision for Goliath in H2 2025. [OWNERSHIP_CHART-1961]

In the October 24 edition of What is Chen Buying? What is Chen Selling? Chen Lin offered a positive outlook on NexGold, noting heightened investor interest following recent updates, including expanded financing and merger plans. Lin's analysis aligned with Stewart's views on the company's growth potential, highlighting that, with the combined projects and new funding, NexGold is well-positioned for substantial operational growth and asset value expansion in the years ahead.

Ownership and Share Structure

The company notes management and insiders own 3.4% of NexGold.

Institutions own 17%.

Strategic investors own 37.4%. Frank Guistra owns 10.1%. On a partially diluted basis, Sprott owns 14.95%. Extract owns 14%. First Mining owns 4.3%. Matrix owns 1.9%, and Teck own 1.9%.

NexGold has 76 million shares and a market cap of CA$57.16 million.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Important Disclosures:

  1. NexGold Mining Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexGold Mining Inc.
  3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
  4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: NEXG.V:TSXV; NXGCF:OTCQX; TRC1.F:FRA, )




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SmartBank secures USD 26 million for its personal finance management app

Japan-based startup SmartBank has announced the rise of a USD 26 million funding round, aimed at the development of its personal finance management app. 




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Warner Brothers job cuts determined by financial target

We reported last week that layoffs were coming soon to Warner Brothers, but how many positions will be cut is still unknown.  

A spokesman for Warner Brothers Entertainment, Paul McGuire, told KPCC there's no exact number yet. "There is no headcount reduction target, but there is a substantial financial target," Maguire said. 

“This is a budget issue, not a head count issue,” Dee Dee Myers, Warner Brothers Vice President of Corporation Communications told Variety.  The trade publication reports that Warner Brothers is expected to eliminate as many as 1,000 positions worldwide - or about 10 percent of its workforce:

Senior managers are currently assessing their businesses to come up with ways to trim overhead. Only at the end of that process will an exact reduction figure be known. It could be somewhat lower than the current numbers being speculated, but cuts are expected to be substantial.  

News of coming layoffs became public two weeks ago, when KPCC and other media outlets obtained an internal memo written by Warner Bros. Chairman and Chief Executive Officer Kevin Tsujihara.   

"It pains me to say this, positions will be eliminated—at every level—across the Studio," Tsujihara wrote in the memo. 

Morningstar Analyst Neil Macker told KPCC that management at Warner Brothers is trying to protect the company from another takeover play by Rupert Murdoch.  In July, Murdoch offered to buy parent company Time Warner for $80 billion. He withdrew the offer in August. 

 




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Getting Back to Basic Bakery Maintenance

We all know that little things can add up to big savings, and many of those little things are bakery basics in the plant. When was the last time you checked your compressed air system operating pressure or the flame on your oven burners? If you can’t remember, then it’s time to get back to the basics and keep tabs on things we might be taking for granted. A little preventative maintenance can go a long way.




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Masada’s Burger Bun Bonanza

Masada Bakery’s 100,000-sq.-ft. bakery operation in Norcross, Ga., continues to grow, even in a slumping economy, thanks in part to the dramatic success of several customers. 




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Marquis Who's Who Honors Rodger K. Johnson for Expertise in Financial Services

Rodger K. Johnson has made his mark on the world of financial planning across more than 45 years




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Marquis Who's Who Honors Colby Fischer for Expertise in Financial Planning and Analysis

Colby Fischer is an innovative leader with more than a decade of experience in the field of corporate finance




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Melbourne rises in Global Financial Centres Index

Melbourne’s dynamic environment for business has been reaffirmed by the Global Financial Centres Index 16 (report) which highlights Melbourne’s position amidst the Global Financial Centres. Melbourne is ranked sixth in the Asia-Pacific, with Sydney fifth - the top six centres all dropped in rating. Melbourne ranked 24th, which is one rating point difference between Melbourne and Sydney - an improvement of 11 points and a rank improvement of 13. Sydney, ranked 23rd, dropped eight rating points, but maintained its rank.




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Bio blog: Dr Amanda Barnard grabs a bag of ‘firsts’ winning the Nobel Prize of nanoscience world: The Freynman Prize

The Feynman Prize for Nanotechnology was awarded last month to Dr Amanda Barnard. Often referred to as the Nobel Prize of nanoscience, the prize’s importance is remarkable in that it recognises prodigious talent in the sector and is a reliable predictor of scientific discoveries with a very high translational impact on industry.




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Penny Stamps Speaker Series - Fernando Laposse (November 14, 2024 5:30pm)

Event Begins: Thursday, November 14, 2024 5:30pm
Location: Off Campus Location
Organized By: Penny W Stamps School of Art & Design


Fernando Laposse specializes in transforming humble natural materials into refined design pieces. He has worked extensively with overlooked plant fibers such as sisal, loofah, and corn leaves. Laposse’s works are the result of extensive research which culminates in objects of “endemic design” where materials and their historical and cultural ties to a particular location and its people take center stage. He often works with indigenous communities in his native Mexico to create local employment opportunities and raise awareness about the challenges they face in a globalized world.
Laposse’s projects are informative and educational and touch on topics such as sustainability, the loss of biodiversity, community dissolution, migration, and the negative impacts of global trade in local agriculture and food culture. He does so by documenting the issues and announcing possible resolutions through the transformative power of design.
Laposse’s projects have been exhibited in the Triennale di Milano, the Cooper Hewitt Design Museum, The Design Museum in London, the Victoria and Albert Museum, and the World Economic Forum, among others. His work is held in the permanent collections of the Design Museum Gent, Le centre national des arts plastiques, Musée des Arts Décoratifs, the San Francisco Museum of Modern Art, the National Gallery of Victoria, and the Victoria & Albert Museum. Laposse studied at Central Saint Martins in London as a product designer and currently lives and works in Mexico City.
Presented in partnership with Design Core Detroit. This project was made possible by a grant from the Arts Initiative at the University of Michigan.
Series presenting partners: Detroit PBS and PBS Books. Media partner: Michigan Radio.




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Info Session: Amgen Undergrad Finance Internship Summer 2025 (November 14, 2024 4:00pm)

Event Begins: Thursday, November 14, 2024 4:00pm
Location:
Organized By: University Career Center


Info Session: Amgen Undergrad Finance Internship Summer 2025 Please join the Amgen corporate finance team for a virtual presentation to learn more about our undergraduate finance internship and biotechnology company. Our summer internship gives students the opportunity to own business-critical projects, participate in a case competition with fellow interns, network with company executives,and much more. Please see event details below. We look forward to meetingyou! Info Session: Amgen Corporate Finance Internship Summer 2025Where: via Teams linkWhen: Thursday, Nov. 14th at 4:00-5:00pm PSTTo apply or to learn more about the internship, search Job ID #R-195767 at careers.amgen.com. Amgen is one of the world’s leading biotechnology companies. With a foundation of strong values, Amgen uses science and innovation to transform insights into medicines for patients with serious illnesses. Our mission is to serve patients and we embody this in every initiative, goal and task. When you join our team, you’ll make a positive impact in the world.




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Northwestern Mutual College Financial Advising Info Session (November 14, 2024 12:00pm)

Event Begins: Thursday, November 14, 2024 12:00pm
Location:
Organized By: University Career Center


Join us for a quick informational sessional about our exciting Financial Advising Internship! Our recruitment team will provide an overview of the internship program and how the experience can help jump start your career in the financial services industry. Whether you are looking to gain hands on experience or develop your financial expertise, this internship offers valuable insight and mentorship. All majors are welcome. We look forward to hearing from you!  -Northwestern Mutual Metro Detroit





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Panasonic Eco Solutions Canada Wins Award for Solar Finance Platform

Panasonic Eco Solutions Canada Inc. announced it won the 2016 Canadian Solar Industries Association (CanSIA) Game Changer Award in the “Project Finance Category,” presented at the Game Changer Awards Gala. This is Panasonic’s second CanSIA Game Changer Award.




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OSCE supports roundtable discussion in Uzbekistan on a methodology for assessing money-laundering and terrorism-financing risks

TASHKENT, 15 October 2015 – An OSCE-supported roundtable discussion introducing representatives of local law enforcement bodies to the methodology of a national assessment of money-laundering and terrorism-financing risks in Uzbekistan was held today in Tashkent.

International experts invited by the OSCE Project Co-ordinator in Uzbekistan presented the results of their work on devising a comprehensive and tailored methodology for conducting a national risk assessment in the country.

“The OSCE continues to support international efforts that have made national risk assessment the standard in the fight against money laundering and the financing of terrorism,” said the OSCE Project Co-ordinator in Uzbekistan Gyorgy Szabo. “We see this as an essential step on the road to eliminating money laundering and terrorism financing in Uzbekistan.”

The discussion is part of a wider process of consultations with representatives of Uzbek law-enforcement agencies and the private sector to implement a national risk assessment on money laundering and the financing of terrorism.

Related Stories




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OSCE-supported Awards recognize best practices in local governance in Montenegrin municipalities

Awards recognizing best practices in local governance in Montenegro’s municipalities over the course of this year were presented at a ceremony organized on 28 December 2015 in Podgorica by the OSCE Mission to Montenegro in co-operation with the Union of Municipalities and the Ministry of Interior.

The annual Awards, now in their eighth year, are open to all local government units and allow them to showcase successful and innovative solutions and initiatives in providing services to their citizens.

Opening the award ceremony, Chairperson of the Executive Board of the Union of Municipalities of Montenegro and Mayor of Cetinje, Aleksandar Bogdanović, said the Awards were the product of the excellent co-operation of national authorities, local government and international organizations with the aim of supporting sustainable development at the local level.

Deputy Head of the OSCE Mission Dan Redford said: “The OSCE Mission to Montenegro has always and will continue to support each and every effort of local governance units in Montenegro to enhance principles of good governance in their communities. These are of fundamental importance because local government is closest to citizens and provides them with essential services. Our goal has always been to mobilize and stimulate action by local stakeholders so that the citizens may benefit from good democratic governance at the local level, through the continuously improving quality of local public services.”

General Director of Directorate for State and Local Authorities in the Ministry of Interior Dragana Ranitović said this programme is of great importance for local governance units as it enables the sharing of best practices among municipalities and that it could be expanded further to facilitate bilateral cross-border co-operation.

The winners of this year’s Awards are:

  • Žabljak Municipality for its economical financial practices;
  • Budva Municipality for its effective human resources management through an electronic personnel recording system;
  • Petnjica Municipality for establishing institutional models to enhance co-operation with citizens and the diaspora;
  • Bijelo Polje Municipality for its work in economically empowering women;
  • Berane Municipality for establishing a Secretariat for Sports, Culture, Youth and Co-operation with NGOs, and a Youth Council.

Berane Municipality also received a special award for introducing a more efficient accounting management system for budget spending, and for establishing the post of an Internal controller.

Related Stories




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OSCE supports workshop on risks-oriented approach in combating money laundering and financing of terrorism in Kyrgyzstan

ISSYK-KUL, Kyrgyzstan, 8 July 2016 – A five-day training course supported by the OSCE Centre in Bishkek on a risk-oriented approach in supervising activities related to anti-money laundering and combating the financing of terrorism concluded today in Bosteri village, in the Issyk-Kul region.

The aim of the workshop, which was organized by the State Financial Intelligence Service under the Government of the Kyrgyz Republic (SFIS) in partnership with the International Monetary Fund (IMF), was to update the relevant State agencies and financial institutions on the practical aspects of a risks-oriented approach in their work. Some 46 officials from law enforcement agencies, supervisory agencies and financial institutions took part.

“A risks-oriented approach is the process which allows the countries to identify, assess and understand risks to effectively combat money laundering and financing of terrorism,” said Nana Baramidze, Senior Economic and Environmental Officer at the OSCE Centre. “The OSCE Centre in Bishkek fully supports the efforts of the Kyrgyz Government in its attempt to establish effective systems to counter money laundering and the financing of terrorism.”

Chyngyz Kenenbayev, Head of the Organizational and Legal department of the SFIS, said: “We are holding this educational seminar to train representatives of national authorities and the private sector so that we can successfully pass the second round of the evaluation by the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG). In order to fulfil international obligations under the EAG, the Kyrgyz Republic is to conduct a mutual assessment of its anti-money laundering and combating the financing of terrorism system. From 28 November to 9 December 2016, a visiting mission of EAG evaluators will conduct this assessment within the Financial Action Task Force (FATF) initiative."

The training course, which was conducted by two IMF experts and three SFIS officials, was part of the OSCE assistance to the Kyrgyz Government in preparing for the second round of the FATF evaluation.




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Nanoleaf Shapes Mini Triangle Starter Kit $85 in-Store @ Select Officeworks Stores

Just saw this in-store near the checkouts when picking up something else. Seems like good price, may be available in other stores as well. Bought one, not sure where I will be using it yet but can figure that out later!

Stock checker report



  • Electrical & Electronics
  • Nanoleaf
  • Nanoleaf Shapes Mini Triangles

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Spyware on Your Phone - Ronan Farrow's Doc Film 'Surveilled' Trailer

"It can copy everything, and record you without you ever knowing – and then just disappear without a trace." HBO Original Documentary Films has revealed the official trailer for a new doc called Surveilled, a film about spyware and cyber espionage. It's so much of a film about surveillance as it is about governments and politicians tracking and spying on others through all of this tech that surrounds us. "The most advanced spyware can turn your smartphone into a spy in your pocket.” Surveilled tracks the Pulitzer Prize winning journalist Ronan Farrow as he investigates the growing business of commercial spyware – following the story from New York City to Tel Aviv, Israel, a center of espionage cybertechnology. Once a target of covert surveillance himself, Farrow explores the multi-billion-dollar industry, addressing the contradictory uses and implications of phone hacking – the ability to monitor criminal activity and attendant threats to civil liberties. Described as a "real-world horror story", this urgent and important doc will be streaming on Max starting this month. All of this in here really is super scary. But what do we do? How do we resist all of this? Here's the official trailer (+ poster) for O'Neill […]




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As rates fall, should you refinance your student loans?

Consider refinancing private student loans if you can get a rate at least half a percentage point lower. If you have federal loans, think twice.






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Algunos médicos patinan: Contaminación y deporte.

El diesel nos está matando, lentamente.




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Salvador Illa avanza en la construcción de la Hacienda catalana para contener la presión de ERC y asegura: "La financiación singular no romperá nada"

El Govern incrementa los contactos con el equipo de la vicepresidenta María Jesús Montero para sentar las bases de un modelo para Cataluña similar al concierto económico vasco Leer




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Metsola asegura que la Eurocámara está dispuesta a ayudar a Valencia "como sea", incluyendo "mayor flexibilidad para la asistencia financiera"

Minuto de silencio en el Parlamento Europeo en memoria de las víctimas de las inundaciones Leer




nan

Eliminando noches locas

En ocasiones, los actos de contrición no obedecen a cuestiones morales sino que están provocados, simple y llanamente, por el miedo o la vergüenza. Miedo a que te pillen. Vergüenza de lo que has hecho. Para estas situaciones delicadas, unos señores muy listos han inventado una aplicación que permite borrar ‘posts’ en el facebook, tweets, fotos o vídeos indeseables que, en un momento de euforia, enajenación mental o irreflexión, suponen una demostración fehaciente de que se ha sido ‘malo’...




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Marion Cotillard, cantante de Franz Ferdinand (por un día)

¿Son Franz Ferdinand prêt-à-porter o alta costura del rock moderno? Saque sus propias conclusiones, con la actriz Marion Cotillard como cantante invitada.




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Why Rexas Finance (RXS) Could Lead The 2025 Altcoin Bull Run?

With the broader crypto market poised for a new bull run, large-cap investors are looking for emerging cryptocurrency projects that could beat popular altcoin frontrunners like Shiba Inu (SHIB) or Dogecoin (DOGE).  Rexas Finance is an up-and-coming crypto project that focuses on the tokenization of real-world assets (RWA) – from real estate and art to [...]




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Boeing delivers layoff notices to 17,000 workers amid financial struggles




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Mortgage and refinance rates today, November 13, 2024: Why are rates increasing?




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Sacramento City Council unanimously approves Railyards soccer stadium plan

By Gerardo Zavala

Nov. 13, 12:31 p.m. update:

Sacramento City Council unanimously approved proposals for a new soccer stadium for Sacramento Republic FC in the Railyards. The council voted 8-0 on Tuesday to pass a term sheet outlining plans that will accelerate the stadium's development.

The new project was unveiled last week. It includes the construction of a 12,000-seat stadium as well as a new entertainment venue seating over 3,500 people. The city says the development will be supported through an investment by the Wilton Rancheria Tribe, which has become Sacramento Republic's majority owner. They are also the first Native American Tribe to own a men's professional sports team.

Included in the agreement is a plan for the city to reimburse the team and Downtown Railyard Venture for the project’s estimated $42 million dollar infrastructure costs.

The city would make those reimbursement payments using property tax generated by the project. The new stadium is expected to open in 2027.

Original story, published Nov. 7: 

Sacramento Republic FC and city leaders on Thursday announced plans to construct a long-awaited soccer stadium and live entertainment venue in the Downtown Railyards.

The $175 million stadium is expected to have over 12,000 seats and is part of a larger infrastructure project aimed at making the Railyards an entertainment destination. The project also includes an additional 3,600-seat venue in the Railyard's historic Central Shops. 

Sacramento Mayor Darrell Steinberg said he plans to present a term sheet to City Council next week that would put the stadium on track to open by 2027.

“This is the biggest announcement for our downtown since the 2013 fight to save the Kings and build the Golden 1 Center,” Steinberg said on Thursday. 

Sacramento Mayor Darrell Steinberg speaks during a press conference in which city officials and Sacramento Republic FC leadership announced plans to build a long-awaited soccer stadium on Thursday, Nov. 7, 2024.Gerardo Zavala/CapRadio

Team officials said this development proposal was possible thanks to a “major investment” from a new ownership group: Wilton Rancheria, the Tribe which owns Sky River Casino in Elk Grove. 

City officials said Wilton Rancheria is the first Tribe to hold majority ownership in a men’s professional sports franchise. 

“This partnership is far more than a business transaction, it represents a significant step forward,” said Wilton Rancheria Chairman Jesus Tarango. “[It] honors the Tribe’s deep and enduring connection to this land, while celebrating the diversity that defines the Sacramento region in an industry where ownership has traditionally lacked diversity.”

Former majority owner and team CEO Kevin Nagle will remain a part owner and manage the team-Tribe partnership.

Wilton Rancheria Chairman Jesus Tarango holds a custom Sacramento Republic FC jersey with his name on it at a press conference in Downtown Sacramento on Thursday, Nov. 7, 2024.Gerardo Zavala/CapRadio

Sacramento’s long fight for a Downtown soccer stadium

In 2019, city and team officials similarly held a press conference announcing plans to develop a soccer stadium and entertainment district in the Downtown Railyards. But that came with one big caveat: It would only be built if Major League Soccer picked Sacramento as a franchise location.

City Council approved the $262 million plan just days after the announcement was made. Five months later, MLS announced Sacramento Republic FC would be its newest expansion franchise. 

“In a few short years, your club has captured the hearts and minds of soccer fans in this city and throughout the region, and the entire sport has taken notice,” MLS Commissioner Don Garber said in 2019. “There is no doubt that this is a soccer city.”

The team was initially supposed to make their MLS debut in 2022. But the pandemic pushed back that start date to 2023, and then lead investor Ron Burkle backed out in 2021, scrapping Republic’s opportunity to play in the top division.

In the years since, there have been a number of rumors around new investment groups and potential MLS expansion bids, but none have come to fruition.

Wilton Rancheria Chairman Tarango said MLS is still on the team’s radar. 

“If the opportunities down the road appear, I think we'll be more than welcome to that opportunity, and I think [MLS] would be more than welcome to have Sacramento's region involved in that, especially with our media market here,” he said on Thursday.

Sacramento Mayor Darrell Steinberg and Sacramento Republic CEO Kevin Nagle shake hands at a press conference announcing plans to build a long-awaited soccer stadium on Thursday, Nov. 7, 2024.Gerardo Zavala/CapRadio

Postseason exit and a leadership change

The announcement of a new stadium comes after the end of The Indomitable Club’s 2024 season. Sacramento reached the USL Championship playoffs for the 10th time in its 11-year history, traveling to Cashman Field on Nov. 1 to face Las Vegas Lights FC in the Western Conference Quarterfinal. It was only the second time in the team’s history that Republic FC played on the road for the opening round.

The teams played to a scoreless draw after 120 minutes and the match went to a penalty shootout, which Las Vegas won 3-2.

Following their playoff exit, Republic FC announced on Nov. 4 that it was parting ways with head coach Mark Briggs after five years.

Briggs was Republic FC’s fourth head coach and the longest-tenured coach in the club’s history. He led the team to the postseason in four out of five seasons — the opening round in 2020 and 2024, the Western Conference Semifinal in 2022 and the Western Conference Final in 2023.

Briggs also coached Sacramento to a historic U.S. Open Cup final in 2022, beating three MLS teams along the way. This was the first time a second-division club reached the cup final in almost two decades.

“Sacramento is a very special place, with a one-of-a-kind club and incredible fans. I’d like to thank the players who’ve been a part of the past five years, the front office who’ve been incredibly supportive, and the fans who welcomed me into the club with tremendous passion and vigor,” Briggs said in a prepared statement earlier this week. “I’m grateful for my time here and it has been an honor to be a part of this community.”




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EP Review: MAMMOTH GRINDER Undying Spectral Resonance

"The only disappointing thing about the release is that it's only an EP. The band does such a fantastic job here that it leaves me wanting more."




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Shark May Have Eaten A Pregnant Shark

“A pregnant porbeagle shark may have been eaten by a great white shark near Bermuda, in the first recorded incident of its kind,” according to a story in the New Scientist. The report said, “In October 2020, Brooke Anderson, then at Arizona State University, and her colleagues tagged a pregnant porbeagle shark [Lamna nasus] south-east of […]




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Bears WR Keenan Allen on former OC Shane Waldron: 'too nice of a guy'

Chicago Bears WR Keenan Allen said that now-former offensive coordinator Shane Waldron was "too nice of a guy."




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TSMC confirms 'unexploded ordnance' removed from wafer fab construction site

TSMC confirms 'unexploded ordnance' removed from wafer fab construction site Probably a relic of a Japanese WWII naval site TSMC has confirmed that workers were evacuated from one of its construction sites in Taiwan after discovery of an unexploded bomb. "Regarding the suspected unexploded…




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StanChart Loses Four Financing Bankers in India Amid Revamp




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Britain's motor finance industry is in crisis – with banks bracing for billions in payouts

Britain's motor finance industry is in disarray, with analysts warning of worst-case scenarios similar in magnitude to the country's costliest consumer banking scandal. The burgeoning crisis stems back to a landmark judgement from the U.K.'s Court of Appeal in late October, when the court ruled it…




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Cooler Master Announces New Hyper 411 Nano CPU Cooler

Cooler Master, a leading provider of PC components, gaming peripherals, and tech lifestyle solutions, today announced the Hyper 411 Nano, the company's latest iteration of their esteemed Hyper series of CPU air coolers.

The post Cooler Master Announces New Hyper 411 Nano CPU Cooler appeared first on ThinkComputers.org.




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'I found out I had cancer when 36 weeks pregnant'

After a Caesarean section, Laura Hudson had to endure chemotherapy and have a mastectomy.




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News24 | Lack of maintenance forces thousands of Khayelitsha families to use dirty toilets

More than 3 000 families in Silver Town, Khayelitsha, have been forced to either use filthy, damaged toilets or relieve themselves in a field.




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News24 | Development bank financing pledge gives COP29 summit early boost

COP29 negotiators welcomed a pledge by major development banks to lift funding to poor and middle-income countries struggling with global warming as an early boost to the two-week summit.





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Sport | Fernandes hopes Amorim can 'change the energy' at Man United

Bruno Fernandes hopes new manager Ruben Amorim can "change the energy" at struggling Manchester United after the Portuguese coach checked in at the Premier League club.




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TSMC extends dominance of semiconductors with 56% share of global lithography systems




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Boeing delivers layoff notices to 17,000 workers amid financial struggles

Boeing started issuing layoff notices Wednesday to 17,000 employees to cut 10% of its workforce in an effort to shore up the aerospace giant's shaky finances.




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Son of ex-Ecuador financial official, former Florida banker guilty in $16M bribery scheme

The son of a high-ranking ex-financial official in Ecuador who was a Florida banker says he's guilty for his part in a international multi-million dollar bribery and money laundering scheme which involved his father.




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Boeing delivers layoff notices to 17,000 workers amid financial struggles

Boeing started issuing layoff notices Wednesday to 17,000 employees to cut 10% of its workforce in an effort to shore up the aerospace giant's shaky finances.




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Nantes, Que., withdraws from Lac-Mégantic rail bypass talks with federal government

Elected officials of Nantes, Que., are putting an end to talks with the federal government about the Lac-Mégantic rail bypass, citing a lack of communication about the file.



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