Source: Sid Rajeev 11/12/2024

Western Exploration Inc. (WEX:TSX.V; WEXPF:OTC) had its fair value increased by Fundamental Research Corp. (FRC) to CA$2.67 per share from CA$2.07 on anticipation of a material resource expansion at the Aura gold-silver project in Nevada, FRC Head of Research Sid Rajeev reported in an Oct. 31 research note.

"[The company] has made notable strides at its Aura gold-silver project, showcasing promising drill results, and improved recoveries," Rajeev wrote. "With mergers and acquisitions (M&A) activity on the rise, we believe Western Exploration Inc. is emerging as a strong acquisition target."

At the time of the report, the explorer was priced at CA$1.24 per share. As such, the new fair value implies a potential return for investors of 115%.

Western Exploration remains a Buy.

Current Project Highlights

Rajeev provided a current overview of the Aura project, noting the company has made significant progress there since FRC's last report, in January.

This Nevada property hosts sediment-hosted, Carlin-style gold deposits. Three have been identified there to date: Doby George, Gravel Creek, and Wood Gulch.

Doby George hosts near-surface, high-grade oxide gold, and mineralization amenable to heap-leach processing, thereby having the potential for relatively low capex and opex. Recent metallurgical heap-leach tests at Doby George yielded a higher gold recovery rate of 72%, up from 69%. This is on the higher end of recoveries for a typical open-pit mine.

Gravel Creek, in contrast, hosts underground, high-grade sulfide gold mineralization. Initial results from an ongoing resource expansion drill program there have been "highly promising," wrote Rajeev. Intercepts have returned unusually high grades, up to 75 grams per ton (75 g/t) gold and 3,080 g/t silver. Assay results from drill hole WGC459 indicate that high-grade mineralization extends at least 80 meters north of the Discovery zone. Preliminary metallurgical test results from Gravel Creek showed "impressive recoveries of 95%" toward the upper end of the usual range for an underground operation.

Resource Expansion Potential

The current aggregated resource of all three deposits is 652,000 ounces of gold equivalent (652 Koz of Au eq) in the Indicated category and 665 Koz Au eq in the Inferred category.

"We believe there is potential for resource expansion as the deposits remain open in multiple directions," Rajeev wrote. He noted which areas remain prospective, and they are Wood Gulch, Gravel Creek, The Gap (the undrilled area between them), the Jarbidge Hanging Wall (without a resource), and the Northeast Extension (undrilled).

Catalysts To Watch For

Rajeev noted future events that could boost Western Exploration's share price. Results of ongoing drilling at Aura is one. Next year, an update to the Gravel Creek and Doby George resource is expected in H1/25. A preliminary feasibility study for Doby George is slated to follow in Q4/25.

Another catalyst is the gold sector, the outlook for which is favorable. M&A activity has picked up as majors are looking for projects to boost their production profile. The trend is positive for this company advancing its precious metals project.

"We maintain a positive outlook on gold in light of the anticipated rate cuts by the U.S. Federal Reserve and elevated geopolitical tensions," the analyst wrote. "We see [Western Exploration] as a prime acquisition target."

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Important Disclosures:

1. Western Exploration Inc. 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 Western Exploration Inc.
3. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
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.

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Disclosures for Fundamental Research Corp., Western Exploration Inc., October 31, 2024

Disclaimers and Disclosure The opinions expressed in this report are the true opinions of the analyst about this company and industry. Any “forward looking statements” are our best estimates and opinions based upon information that is publicly available and that we believe to be correct, but we have not independently verified with respect to truth or correctness. There is no guarantee that our forecasts will materialize. Actual results will likely vary. The analyst and Fundamental Research Corp. “FRC” does not own any shares of the subject company, does not make a market or offer shares for sale of the subject company, and does not have any investment banking business with the subject company. Fees were paid by WEX to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, WEX has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated. Distribution procedure: our reports are distributed first to our web-based subscribers on the date shown on this report then made available to delayed access users through various other channels for a limited time. The distribution of FRC’s ratings are as follows: BUY (67%), HOLD (3%), SELL / SUSPEND (30%). To subscribe for real-time access to research, visit https://www.researchfrc.com/website/subscribe/ for subscription options.

This report contains "forward looking" statements. Forward-looking statements regarding the Company and/or stock’s performance inherently involve risks and uncertainties that could cause actual results to differ from such forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products/services in the marketplace; acceptance in the marketplace of the Company's new product lines/services; competitive factors; new product/service introductions by others; technological changes; dependence on suppliers; systematic market risks and other risks discussed in the Company's periodic report filings, including interim reports, annual reports, and annual information forms filed with the various securities regulators. By making these forward-looking statements, Fundamental Research Corp. and the analyst/author of this report undertakes no obligation to update these statements for revisions or changes after the date of this report. A report initiating coverage will most often be updated quarterly while a report issuing a rating may have no further or less frequent updates because the subject company is likely to be in earlier stages where nothing material may occur quarter to quarter. Fundamental Research Corp DOES NOT MAKE ANY WARRANTIES, EXPRESSED OR IMPLIED, AS TO RESULTS TO BE OBTAINED FROM USING THIS INFORMATION AND MAKES NO EXPRESS OR IMPLIED WARRANTIES OR FITNESS FOR A PARTICULAR USE. ANYONE USING THIS REPORT ASSUMES FULL RESPONSIBILITY FOR WHATEVER RESULTS THEY OBTAIN FROM WHATEVER USE THE INFORMATION WAS PUT TO. ALWAYS TALK TO YOUR FINANCIAL ADVISOR BEFORE YOU INVEST. WHETHER A STOCK SHOULD BE INCLUDED IN A PORTFOLIO DEPENDS ON ONE’S RISK TOLERANCE, OBJECTIVES, SITUATION, RETURN ON OTHER ASSETS, ETC. ONLY YOUR INVESTMENT ADVISOR WHO KNOWS YOUR UNIQUE CIRCUMSTANCES CAN MAKE A PROPER RECOMMENDATION AS TO THE MERIT OF ANY PARTICULAR SECURITY FOR INCLUSION IN YOUR PORTFOLIO. This REPORT is solely for informative purposes and is not a solicitation or an offer to buy or sell any security. It is not intended as being a complete description of the company, industry, securities or developments referred to in the material. Any forecasts contained in this report were independently prepared unless otherwise stated and HAVE NOT BEEN endorsed by the Management of the company which is the subject of this report. Additional information is available upon request. THIS REPORT IS COPYRIGHT. YOU MAY NOT REDISTRIBUTE THIS REPORT WITHOUT OUR PERMISSION. Please give proper credit, including citing Fundamental Research Corp and/or the analyst, when quoting information from this report. The information contained in this report is intended to be viewed only in jurisdictions where it may be legally viewed and is not intended for use by any person or entity in any jurisdiction where such use would be contrary to local regulations or which would require any registration requirement within such jurisdiction.

( Companies Mentioned: WEX:TSX.V;WEXPF:OTC, )

Source: Streetwise Reports 11/12/2024

As 321gold's Bob Moriarty discussed the outcome of the BRICS conference in Russia and the state of the gold market with Robert Sinn of Goldfinger Capital, he lamented the need for more young gold bugs to enter the market as the yellow metal enters what he predicted will be a five- to 10-year bull market.

Sinn said at a recent conference, despite recent record gold prices, two-thirds of the seats were empty at gold panels with experts talking about likely windfalls in 2025.

"If you went to a gold conference last year, what was the average age?" Moriarty said during the interview posted last month, guessing 67 "or higher." "We have to get young people into the market, and we have not done that yet. The fact is that nobody's (at) the gold show because they all died of old age."

Moriarty said he expects there will be plenty of those windfalls coming in the bull market. He said there "absolutely has to be" more majors doing acquisitions.

Before the Bre-X scandal of the 1990s, in which fraudulent samples led to the collapse of the CA$6 billion company, most major mining companies had their own exploration departments, which many later cut, Moriarty pointed out.

"Since 2000, all of the exploration has been juniors," he said. "So, there has to be a lot more M&A activity. There has to be."

Yukon Projects Won't Go For 'Chump Change'

Gold hit its latest record high on October 30. It slid after the election, but most experts agree it is in a bull market and will continue to be.

"We are still relatively constructive on gold," said Taylor Krystkowiak, investment strategist at Themes ETFs, according to a report by Ian Salisbury for Barron's. "Why does gold go up? It's geopolitical uncertainty, it's deficit spending, and it's inflation. Right now, all those stars are aligned."

Despite pushbacks during its rise, "gold continues to climb," Nick Fulton, managing partner at USA Pawn, told Newsweek. "When we saw US$2,600 an ounce gold, I thought US$2,800 by the end of the year. Now? We could see gold at US$3,000 an ounce happen in a 30-day time span."

Moriarty said the highest recent scores logged by sentiment indices on gold and silver, which are reflected in a scale of 0 to 100, are lower than he would expect at "88 for gold and 88 for silver."

"I would think it would be in the 90s, and it's not," he said. Silver, for instance, when it hit its all-time record high in 1980, had a score of 95, he said.

The juniors should be performing "three or four times higher, and they're not," Moriarty said.

"So, were in an interesting situation," he said. "We're going to have five to 10 years at least of a bull market. And when the dollar changes its value dramatically, it's going to drive gold and silver much higher."

Moriarty said the majors are "trying to go out and pick up copper projects now," which he doesn't think makes sense.

"The majors are always wrong," he said. "They're paying the most for projects at the very top. Projects are being given because they're not interested. But when you have four major projects in one small area in the Yukon (and) those projects are going into production, somebody is going to buy them. But I don't think they're going to buy them for chump change. I think it's going to cost some money."

BRICS Conference: 'Who Cares?'

The two also discussed the recent BRICS meeting Russia. An intergovernmental organization, BRICS is an acronym for founding members Brazil, Russia, India, China, South Africa. Iran, Egypt, Ethiopia, and the United Arab Emirates are all full members now and it has also expanded to add 13 new "partner nations."

But one thing it didn't do was settle on a common currency for the countries, which disappointed Moriarty.

"I think the BRICS meeting was really important, and I was hoping for kind of agreement on what the BRICS financial solution is, and they really didn't come up with it," he said. "It was a meet and greet, and they talked about opening commodities exchanges. Who cares?"

This potential currency would allow these nations to "assert their economic independence while competing with the existing international financial system," wrote Melissa Pistilli of Investing News Network. "The current system is dominated by the US dollar, which accounts for about 90 percent of all currency trading."

Russian President Vladimir Putin presented a colorful mockup of a BRICS bank note at the conference, but Moriarty wasn't impressed.

"They need to do something, but they haven't done it yet. "You've got dozens of countries that recognize (that) the stranglehold the United States has on the rest of the world geopolitically is a negative for the rest of the world. And they all agree that that needs to change, but nobody's talked about how to do it."

Sitka Gold Corp.

One company Moriarty and Sinn discussed was Sitka Gold Corp. (SIG:TSXV; SITKF:OTCQB; 1RF:FSE), which recently released high-grade intercepts from its RC Gold Project in the Tombstone Gold Belt of Yukon.

The standout results included one hole that returned 678.1 meters of 1.04 grams per tonne gold (g/t Au) from surface, including 409.5 meters of 1.36 g/t Au, and 93 meters grading 2.57 g/t Au. The intercept also contained a high-grade core of 5.5 meters grading 17.59 g/t Au.

The results extended gold mineralization approximately 200 meters deeper than any previously drilled hole at the Blackjack deposit, signaling the potential for continued high-grade mineralization at depth and showing persistent mineralization throughout the entire 708.7-meter length of the hole.

Moriarty said the company is drilling Clear Creek on the RC property now, "and I think we're going to see a lot. More 400-, 500-, 600-meter intercepts. So, what's going to happen is the majors are going to wake up."

He predicted the company could be another Snowline Gold Corp. (SGD:CSE; SNWGF:OTCQB), which "has somewhere between seven and eight times the market cap" of Sitka. At the time of writing, Snowline had a market cap of CA$883 million to Sitka's CA$129 million.

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Important Disclosures:

1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Snowline Gold Corp.
2. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
3. 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: SIG:TSXV; SITKF:OTCQB; 1RF:FSE, )

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. 

US-based identity platform Persona has partnered with Okta to deliver an automated identity verification solution and support organisations to safeguard against phishing and deepfakes. 

Blink Payments has announced its partnership with Zedonk, a collaboration that will enable the UK paytech platform to enter into the B2B fashion payments market.

Fideuram Intesa Sanpaolo Private Banking (FISPB), Intesa Sanpaolo Group’s private bank, has partnered with BlackRock to advance the expansion of its Digital Wealth Management solution in Italy and Europe. 

Volt has partnered with Kinguin to allow the latter's 18 million users to securely make purchases of games and in-game items through a Pay by Bank option.

SafetyTech company Privately SA has partnered with Privado ID to develop a privacy-focused, device-based age verification solution.

Patt's Hats for Monday, April 8.; Credit: Michelle Lanz/KPCC

The twinset, in russet and camel colors, was my ‘homage’ to Margaret Thatcher, Britain’s first woman prime minister, who died Monday at the Ritz Hotel in London.
 
If you're unfamiliar with a twinset, it's the classic matching sweater-duo ensemble, sleeveless or short-sleeved sweater under a cardigan, a style much favored in the U.S. by June Cleaver and sorority girls in the 1950s, like the classic insufferable rich sorority girl parody from “Auntie Mame":

And in Britain by a lady of a certain age and certain class. It is usually worn with pearls, ideally three strands. Odd numbers of strands are considered more chic than even numbers. It’s probably what she wore “off duty” as prime minister.

One can’t see her [see, I’m channeling her already!] lounging about Number 10 Downing Street in velour sweats, but on duty and on display in her prime ministerial position, though, she almost always wore a kind of uniform, a brightly colored suit, ladylike but not alluring, and not unlike what the Queen wears. [In the same spirit, the Queen wears twinsets when she’s off-duty and having fun, which is to say at some horsy event or another.] 

Because Thatcher was Britain’s first woman prime minister, Britons enjoyed handicapping the relationship between their head of state [the Queen] and the head of government [the prime minister]. Theirs was not the affectionate relationship of, for example, the Queen and Winston Churchill. And the best sartorial story about the relationship is the story – which has entered into myth if not into the annals of fact – that Mrs. Thatcher’s office once called Buckingham Palace in advance of a joint appearance to find out what the Queen would be wearing so Mrs. Thatcher wouldn’t commit lese majeste and wear the same color.

The Queen, Mrs. T’s office was informed, doesn’t take any notice of what other people are wearing.
 
I wrote about Mrs. T when she came here in 1991 to celebrate the 80th birthday of her “political soulmate,” former president Ronald Reagan. She visited the Reagan library, under construction, and the JPL, among other spots. You can read that account here.
 
And here’s my obituary of the former PM.
 
I last saw her in 2002, in St. Paul’s Cathedral, at the celebration of the Queen’s golden jubilee. I actually heard her before I saw her – that unmistakably clear voice whose pitch she worked hard to shape into the pitch and tone that became part of her political toolkit. Her funeral, next Wednesday, will be at St. Paul’s. 

Now back to my outfit! The skirt is a vintage Sonia Rykiel, which is worth the constant battle with moths to keep it in repair. I like vintage for myriad reasons: no one else is wearing what you’re wearing … the fabrics are usually of much better quality and more interesting than present-day ones … and unlike current store-bought things, vintage has the merit of being environmentally friendly.
 
I was tickled to see my viewpoint endorsed by the accomplished Vanessa Paradis, the charming and glamorous French singer and actress, Chanel model, Lagerfeld muse, and the new face of H&M’s new environmentally conscious line. Here she talks about embracing those virtues herself. Merci, Vanessa!
 
Oh, I spared the oysters and didn’t wear pearls with my twinset. Rose gold is the choice du jour.  Real? I wish!

This content is from Southern California Public Radio. View the original story at SCPR.org.

Patt's Hats for April 17, 2013.; Credit: Michelle Lanz/KPCC

Is it, by chance, Helena Bonham Carter’s birthday? This begged me to take it out of the closet this morning, a frock very much a la Bonham Carter mode. [We all do know that her husband, Tim Burton, is from Burbank, right?]
 
The dress is from Stefanel – anyone know of Stefanel? An Italian company that’s done especially knockout knits. I don’t know that it has any shops here in the U.S. but I hazarded into Stefanel in Europe and liked the attitude, as well as the silhouettes, and this one in particular.
 
The sweater-ribbed knit band at the bottom puts an edge on the frou-frou of the skirt, as do the big hardware snaps on the bodice.  [That word, froufrou, or frou-frou, meaning fussy or embellished, or covered with "furbelows." "Furbelows"  is one of my favorite fashion words.
 
"Froufrou" dates to France in about 1870, when women’s clothes were exactly that. Sarah Bernhardt, one of my style icons, starred in a play entitled “Frou-Frou.”   

Of course Bernhardt gets to die ravishingly and at length in the play – she had more ways of expiring than James Bond’s villains ever dreamed up – and even though she only performed in French, American audiences ate it up when she toured here. Bernhardt said she could always recoup her fortunes in the United States, and “Frou Frou” helped her to do just that.
 
This dress, with the taffeta bubble skirt, reminded me of the style worn by Tom Wolfe’s New York society matrons in “The Bonfire of the Vanities.” It’s the magnificently seminal social novel about race and wealth in 1980s New York. Wolfe he called the women “social X-rays” for the bony gauntness they cultivated. If you have not read it, you really must. It lays the groundwork for the lifestyles of the Wall Street rich and notorious of today, and is one of my favorite novels.
 
The Lucite heel on the ankle boots – "Perspex," as the British call it – gives the effect of floating, ballerina-like, across the floor – an effect I will never achieve in real life, so must rely on footwear to give me a semblance of it.

I coveted the Lucite-wedge shoes that Maison Margiela sold briefly at H&M, but didn’t have the stamina to wake up at dawn and line up at 6 a.m. back when they went on sale, so these shoes gave me a bit of the same look, along with a full night’s sleep.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Patt Morrison's outfit for May 20. ; Credit: Michelle Lanz/KPCC

Here’s another version of those capris – these are a lace print from H&M – and while I’ve seen women wearing them with high heels, it just doesn’t seem right somehow. It so sullies the legacies of Mary Tyler Moore and Audrey Hepburn to pair them with anything but flats!

This is my version of a cutaway coat. In a coat like this I could attend Royal Ascot, or invent the telegraph. Obviously it’s a girl version, but I feel empowered, even … princely. At least Fred Astaire-ish. Maybe a pair of spats would make me feel more so. And I could waltz facing forward, not dancing backward, a la Ginger.

As for the adornments, I am not a hearts-and-butterflies kind of girl, but I do like to wear themed brooches in clusters or multiples, and this pair of hearts – just like a poker hand – seemed to work. One is the arrow-pierced one [not to be confused with the Pierce-Arrow, one of the handsomest motorcars ever made].

And the other, the enormous bogus diamond heart, I got from Butler & Wilson, the imaginative London costume jewelry [or better yet ‘jewellery’] designer. It’s my homage to a recent auction of what may be the largest perfect diamond in the world, 101.73 carats.

Harry Winston, the legendary jeweler, bought it for nearly $24 million and has chosen to call it, I am sorry to say, the “Harry Legacy,” which is not the kind of name a diamond like this deserves, one redolent of romance and myth, like “the Hope Diamond” or “the Koh-I-Noor Diamond.”

If you have any suggestions about what to name this magnificent perfect diamond, I’d love to hear them.

My own faux diamond’s name, I have decided, is “The Rhinestone Corazon.” How do you like it?

This content is from Southern California Public Radio. View the original story at SCPR.org.

The USGS-NPS partnership meeting at Effigy Mounds National Monument on October 24-30, 2024, united scientists, tribal representatives, and NPS staff for collaborative sampling and discussions. This event emphasized integrating traditional ecological knowledge with scientific practices while honoring tribal protocols in environmental research and strengthening partnerships.

Michael Ballanger of GGM Advisory Inc. shares his thoughts on current movements in the market.

An image released by Google shows an early version of its driverless vehicle. The company has built several prototypes of the self-driving car.; Credit: /Google

California is one step closer this week to making the 1980s Hollywood fantasy of Knight Rider a 21st century reality because permits for self-driving cars issued by the Department of Motor Vehicles officially went into effect Tuesday. Now a handful of companies can test automated cars on public roads.

Buckle up — it's gonna be a wild ride.

John O'Dell is a Senior Editor at Edmunds.com, and he joins Alex Cohen to talk about what this means for the future of the driverless car industry.

 

AB 2293 bans drivers from using their personal policies and mandates that drivers have to be covered from the moment they turn on their app and look for customers.; Credit: Photo by Daniel X. O'Neil via Flickr Creative Commons

Amid all the talk about cutting-edge technology, much of Uber and Lyft’s success actually owes to that fact the ride-sharing companies have been able to exploit a basic loophole: The companies foist the cost of insurance on their drivers, but the drivers' insurance companies don’t know they are underwriting cars for hire, and even if drivers wanted to be honest and get a policy that would cover ride-sharing, they couldn’t, because no such policy exists.

AB-2293, introduced by Assemblywoman Susan Bonilla (D-Concord) and signed into law Wednesday by Governor Jerry Brown, tries to close the loophole by paving the way for insurance companies to offer hybrid personal/commercial policies by next summer.

Uber once derided the bill as a backroom deal between insurance companies and trial lawyers.

"The bill does nothing to enhance safety, yet compromises the transportation choices and entrepreneurial opportunities Uber offers Californians," the company wrote in a June blog post that encouraged customers to contact their representatives opposing the bill.

However, the company backed down and supported the legislation when Bonilla insurance requirements were lowered.

AB 2293 also specifically bans drivers from using their personal policies and mandates drivers have to be covered from the moment they turn on their app and look for customers, which is a response to the tragic accident on New Year's Eve in San Francisco when an UberX driver hit and killed a six year old child.

Uber argued that because the driver was waiting for a fare he wasn't working for the company at the time, so he wasn't covered by the company's insurance.

File photo: Customers enter a Home Depot store on May 21, 2013 in El Cerrito, Calif.; Credit: Justin Sullivan/Getty Images

The Home Depot says it has eliminated malware from its U.S. and Canadian networks that affected 56 million unique payment cards between April and September.

The Atlanta-based home improvement retailer said Thursday it has also completed a "major" payment security project that provides enhanced encryption of customers' payment data in the company's U.S. stores.

Home Depot also is confirming its sales-growth estimates for the fiscal year and expects to earn $4.54 per share in fiscal 2014, up 2 cents from its prior guidance.

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. 

Founder and Executive Chairman of Alibaba Group Jack Ma (L) attends the company's initial price offering (IPO) at the New York Stock Exchange on September 19, 2014 in New York City. ; Credit: Andrew Burton/Getty Images

Alibaba's stock is surging as the Chinese e-commerce powerhouse begins its first day trading as a public company.

The stock opened at $92.70 and nearly hit $100 on the New York Stock Exchange Friday, a gain of 46 percent from the initial $68 per share price set Thursday evening.

At Friday's opening price, the company is worth $228.5 billion, more than companies such as Amazon, Ebay and even Facebook.

Jubilant CEO Jack Ma stood on the NYSE trading floor Friday as eight Alibaba customers, including an American cherry farmer and a Chinese Olympian, rang the opening bell.

"We want to be bigger than Wal-Mart," Ma told CNBC shortly after the opening Bell. "We hope in 15 years people say this is a company like Microsoft, IBM, Wal-Mart, they changed, shaped the world."

On Thursday, Alibaba and the investment bankers arranging the initial public offering settled on a price of $68 per share. The company and its early investors raised $21.8 billion in the offering, which valued Alibaba at $168 billion in one of the world's biggest ever initial public offerings.

The company, which is trading under the symbol "BABA," has enjoyed a surge in U.S. popularity over the past two weeks as investors met with executives, including its colorful founder Jack Ma. As part of the so-called roadshow, would-be investors heard a sales pitch that centered on Alibaba's strong revenue growth and seemingly endless possibilities for expansion. Demand was so high that the company raised its offering price to $66 to $68 per share from $60 to $66 per share on Monday.

The main reason investors appear breathless about the 15-year old Alibaba: It offers an investment vehicle that taps into China's burgeoning middle-class.

Alibaba's Taobao, TMall and other platforms account for some 80 percent of Chinese online commerce. Most of Alibaba's 279 million active buyers visit the sites at least once a month on smartphones and other mobile devices, making the company attractive to investors as computing shifts away from laptop and desktop machines.

And the growth rate is not expected to mature anytime soon. Online spending by Chinese shoppers is forecast to triple from its 2011 size by 2015. Beyond that, Alibaba has said it plans to expand into emerging markets and eventually, Europe and the U.S.

"There are very few companies that are this big, grow this fast, and are this profitable," said Wedbush analyst Gil Luria.

Alibaba operates an online ecosystem that lets individuals and small businesses buy and sell. It doesn't directly sell anything, compete with its merchants, or hold inventory.

"The business model is really interesting. It's not just an eBay, it's not an Amazon, it's not a Paypal. It's all of that and much more," said Reena Aggarwal, a professor at Georgetown.

Like China's consumer and Internet market, Alibaba is still growing rapidly. The company's revenue in its latest quarter ending in June surged 46 percent from last year to $2.54 billion while its earnings climbed 60 percent to nearly $1.2 billion, after subtracting a one-time gain and certain other items.

In its last fiscal year ending March 31, Alibaba earned $3.7 billion, making it more profitable than eBay Inc. and Amazon.com Inc. combined. Amazon ended Thursday with a market value of about $150 billion while eBay's market value stood at $67 billion.

Alibaba, is based in Hangzhou in Eastern China, Ma's hometown. The company got started in 1999 when Ma and 17 friends developed a fledgling e-commerce company on the cusp of the Internet boom. Today, Alibaba's main platforms are its original business-to-business service Alibaba.com, consumer-to-consumer site Taobao and TMall, a place for brands to sell to consumers.

And while there's plenty of growth left in China, Ma has recently hinted about plans to expand beyond those borders.

"We hope to become a global company, so after we go public in the U.S., we will expand strongly in Europe and America," Ma said to a group of reporters in Kowloon on Monday.

Alibaba offered 320.1 million shares for a total offering size of $21.77 billion. Underwriters have a 30-day option to buy up to about 48 million more shares. That means the offering size could be as much as $25 billion

The IPO's fundraising handily eclipses the $16 billion Facebook raised in 2012, the most for a technology IPO. If all of its underwriters' options are exercised, it would also top the all-time IPO fundraising record of $22.1 billion set by the Agricultural Bank of China Ltd. in 2010.

Yahoo, which has been struggling to grow for years, made a windfall $8.28 billion by selling 121.7 million of is Alibaba shares. And founder Jack Ma sold 12.75 million shares worth $867 million.

Nokia will deploy 3,300 new 4G sites for Vodafone Idea by March 2025. Nokia is one of the three vendors selected by Vodafone Idea for a network equipment supply deal. The deal is worth USD 3.6 billion over three years. Nokia will deliver nearly 3,300 new sites and upgrade over 42,000 technology sites.

This is proposed with the aim of ensuring data privacy, security, and integrity, especially with sensitive investor information. In its consultation paper, Sebi said that the market infra institutions should also be accountable for any actions taken based on AI outputs.

The report, titled “2025 Predictions – Energy Transition & Utilities Technology and Industry Trends in India,” highlights key areas where technology and policy shifts are expected to drive India’s energy transition over the next two years.

Bima Sugam India Federation is working to create a digital insurance marketplace in India.

Google is piloting "Learn About," an innovative AI learning tool using the LearnLM AI model. Unlike standard chatbots, "Learn About" offers an interactive approach, incorporating quizzes, lists, and contextual information for a deeper understanding. Currently in limited release, the platform emphasizes reliable educational sources, setting it apart from general AI tools.

Zoho CEO, Sridhar Vembu, predicts a resurgence of traditional jobs as AI automates production, making goods and services more affordable. He envisions higher wages for these revived roles, citing the demand for nature-friendly farming and live concert experiences.

Egan Food Technologies, a confectionery and baking process equipment manufacturer and service provider, will unveil at Pack Expo a new slab-bar forming line that is manufactured and serviced from the company’s headquarters in Grand Rapids, Mich. 

Hauppauge, NY, January 27, 2014 – The Ross PreMax is a batch-style rotor/stator mixer designed for ultra-high shear conditions and vigorous flow, an ideal combination that supports high-speed production of fine dispersions and emulsions. 

Hauppauge, NY, January 13, 2014 – The Ross MegaShear Ultra-High Shear Mixer is designed for homogenizing dispersions and disintegrating large solid particles or droplets suspended in liquid. 

The new division will focus on developing innovative snacks and capitalizing on emerging consumer trends.

Pirate’s Booty Carrot Snacks are the newest non-GMO product from Pirate’s Booty.

Barbara’s has expanded its portfolio of Non-GMO Project Verified foods with the addition of Barbara’s Better Granola, available in Oats & Honey and Dark Chocolate Cranberry.

Rickland Orchards, a B&G Foods brand, has launched CLVR Bars.

Kellogg Co.’s new chewy Special K Snack Bars are all made with golden rolled oats and have 100 calories each.

Mary's Gone Crackers MiNiS are bite-size, gluten-free graham crackers in the shape of the sun, the moon, stars and hearts.

Available until July 31, Hostess Brands’ Sea Salt Caramel Cupcakes have a sophisticated flavor sure to delight dessert connoisseurs.

Each 10-oz holiday-themed bucket includes two 2-oz bags of Haribo Goldbears and two bags of Orville Redenbacher’s Butter Microwave Popcorn. 

Like all manufacturers, bakers and snack producers know that their success (and profitability) depends on more than just regularly introducing new products. Controlling overhead, operating and equipment costs is a major part of the equation.

It’s been a slippery road this year. Impacted by a widespread drought, fluctuating commodity prices and a still-weak economy, bakers have been hit with some tough circumstances.

Select segments of salty snacks like extruded snacks, chips and pretzels have aligned with prevailing shopper desires, and their sales numbers show it.

Contractors focus on marketing, sales training and business diversification to get more work.

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Freeze protection without antifreeze.

Indiana's largest microbrewery embraces the sun.

Dual Solar TubingTiteflex Corp.’s FlexSure Division introduces FlexSure Dual Solar Tubing, a new method of connecting solar panels and a hot water storage tank - supply and return lines are

Solar thermal systems have plenty in common with traditional hydronic heating systems.

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Working displays educate dealers and consumers.

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Education and training to keep you up-to-date on the solar thermal industry.