MEXICO CITY (AP) — Over 18,000 people have registered online to run for Supreme Court seats and federal judgeships in Mexico’s contentious new selection process, officials said Monday. But a random drawing in the end will determine who gets on the ballot. The ruling party pushed through to make all federal judges stand for election, replacing the system where court employees and lawyers mainly move up through the ranks. Current court employees and their supporters have staged dozens of demonstrations against the reforms, calling them part of a ruling-party campaign to weaken checks and balances and eliminate independent regulatory and oversight bodies. Now, candidates for Supreme Court seats and federal judgeships need only a law degree, a grade point average of 3.2, “five years of professional experience” and five letters of recommendation from neighbors or friends. That, and some luck in the final drawing. Officials rejected criticism that has called the process rushed or amateurish for the often highly technical posts that can hear cases including intellectual property, organized crime and Constitutional law. “The results have been spectacular,” said Arturo Zaldivar, a top adviser to President Claudia Sheinbaum. According to the plan, evaluation committees will have just over a month to review thousands of resumes and whittle the field to about 10 candidates or less for each for the 881 judgeships and Then 1,793 names chosen at random from those selected will appear on the ballot on June 1. Critics warn that many who land on the ballot will be unknowns who perhaps have never argued a case in the courts they seek to run. “You don’t elect a doctor or a surgeon for an operation based on their popularity, you elect them based on their technical expertise, their ability, their knowledge,” said Sergio Méndez Silva, the legal coordinator for the civic group Foundation for Justice. “That also applies for a judge.” With candidates now having to run election campaigns, critics warn there’s a chance that drug cartels or political parties could finance them to get friendly judges onto the bench. There are also concerns that the evaluation committees deciding who makes the cut for the selection to appear on ballots may not be impartial. Most committee members were appointed by the legislative or executive branches, controlled by the ruling Morena party. Some critics argue that the current justice system, which is riddled with nepotism, corruption and a lack of accountability, needs to be changed. “We need a justice system that gives results,” said Minerva Martínez Garza, an academic and former head of the human rights commission in the northern border state of Nuevo Leon who has registered to run for a Supreme Court seat. Trials in Mexico can last for years, and the ruling party has added to meaning that a large percentage of the prison population is people awaiting trial. ____ Follow AP’s coverage of Latin America and the Caribbean atNU's Watson named Player of the Week
A Nova Scotia organization that provides transitional services to women is calling on political leaders to pay more attention to gender-based violence during this provincial election campaign. Transition House Association of Nova Scotia released a report earlier this week that said political parties need to commit to “epidemic-level” funding for groups that address the issue. “It’s hard to put an exact number on it, but I think what we do know is that it needs to be more than what is being provided now,” said Ann de Ste Croix, the group’s executive director. The group also analyzed the parties’ platforms, concluding the NDP’s is best equipped to address gender-based violence, followed closely by the Liberals’. Both parties were recognized for their anti-poverty measures, while the Progressive Conservatives were graded significantly lower. Over the past month, three fatal cases of intimate partner violence have made headlines in the province, including the death of Brenda Tatlock-Burke. The 59-year-old woman’s daughter, Tara Graham, told Global News earlier this month that the family was speaking out to shed light on the case — and to prevent future ones. “My sister and I just felt like she needed to be brought to life in who she was and the means in which she was killed,” Graham said. “I just don’t feel like it’s taken seriously until somebody is severely injured or they’re dead.” De Ste Croix says given how urgent the problem is, the group was hoping the parties would have paid more attention to gender-based violence in their campaigns. “There is an urgency to addressing this issue in the province and in providing that support to folks that are living with violence currently,” de Ste Croix said. NDP Leader Claudia Chender agrees with that assessment. In September, the Nova Scotia house of assembly passed a bill, introduced by the NDP, declaring intimate-partner violence an “epidemic” in the province. “We have to have epidemic-level funding to the front-line organizations that are working with women and communities to ensure that this doesn’t happen and that we can change the culture and stem the tide of this kind of violence,” Chender said. PC Leader Tim Houston said his government has been following — and would continue to follow if re-elected — the recommendations laid out by the Mass Casualty Commission . The commission was tasked with reviewing the 2020 mass shooting in Nova Scotia, which was preceded by a domestic assault against the shooter’s spouse. “We are moving forward with recommendations that would include things like additional supports for survivors, including things like counselling and other supports that are available. So we’ll continue to move for that,” he said. Liberal Leader Zach Churchill told Global News his party would further invest in front-line supports. “We will create an office in the Health Department to deal with this to support women,” Churchill said. “We will also be investing in women’s centres and those community-based organizations that provide the direct front-line support for women who are fleeing violence or struggling with it.” — with a file from The Canadian Press'Title race on' - how Odegaard & Saka are keeping Arsenal hopes alive
PAU unveils new Gate No 1 road in diamond jubilee avatarWASHINGTON — When Elon Musk first suggested a new effort to cut the size of government, Donald Trump didn’t seem to take it seriously. His eventual name for the idea sounded like a joke, too. It would be called the Department of Government Efficiency, or DOGE, a reference to an online meme featuring a surprised-looking dog from Japan. But now that Trump has won the election, Musk’s fantasy is becoming reality, with the potential to spark a constitutional clash over the balance of power in Washington. Trump put Musk, the world’s richest man, and Vivek Ramaswamy, an entrepreneur and former Republican presidential candidate, in charge of the new department, which is really an outside advisory committee that will work with people inside the government to reduce spending and regulations. Last week, Musk and Ramaswamy said they would encourage Trump to make cuts by refusing to spend money allocated by Congress, a process known as impounding. The proposal goes against a 1974 law intended to prevent future presidents from following in the footsteps of Richard Nixon, who held back funding that he didn’t like. “We are prepared for the onslaught from entrenched interests in Washington,” Musk and Ramaswamy wrote in an opinion piece in The Wall Street Journal. “We expect to prevail. Now is the moment for decisive action.” Trump has already suggested taking such a big step, saying last year that he would “use the president’s long-recognized impoundment power to squeeze the bloated federal bureaucracy for massive savings.” It would be a dramatic attempt to expand his powers, when he already will have the benefit of a sympathetic Republican-controlled Congress and a conservative-majority U.S. Supreme Court, and it could swiftly become one of the most closely watched legal fights of his second administration. “He might get away with it,” said William Galston, a senior fellow in governance studies at the Brookings Institution, a Washington-based think tank. “Congress’ power of the purse will turn into an advisory opinion.” Right now, plans for the Department of Government Efficiency are still coming into focus. The nascent organization has put out a call for “super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting.” Applicants are encouraged to submit their resumes through X, the social media company that Musk owns. In the Wall Street Journal, Musk and Ramaswamy provided the most detailed look yet at how they would operate and where they could cut. Some are longtime Republican targets, such as $535 million for the Corporation for Public Broadcasting. Other plans are more ambitious and could reshape the federal government. The two wrote that they would “identify the minimum number of employees required at an agency for it to perform its constitutionally permissible and statutorily mandated functions,” leading to “mass head-count reductions across the federal bureaucracy.” Civil service protections wouldn’t apply, they argue, because they wouldn’t be targeting specific people for political purposes. Some employees could choose “voluntary severance payments to facilitate a graceful exit.” But others would be encouraged to quit by mandating that they show up at the office five days a week, ending pandemic-era flexibility about remote work. The requirement “would result in a wave of voluntary terminations that we welcome.” Everett Kelley, president of the American Federation of Government Employees, said such cutbacks would harm services for Americans who rely on the federal government, and he suggested that Musk and Ramaswamy were in over their heads. “I don’t think they’re even remotely qualified to perform those duties,” he said. “That’s my main concern.” Kelley said his union, which represents 750,000 employees for the federal government and the city of Washington, D.C., was ready to fight attempts to slash the workforce. “We’ve been here, we’ve heard this kind of rhetoric before,” he said. “And we are prepared.” There was no mention in the Wall Street Journal of Musk’s previously stated goal of cutting $2 trillion from the budget, which is nearly a third of total annual spending. Nor did they write about “Schedule F,” a potential plan to reclassify federal employees to make them easier to fire. Ramaswamy once described the idea as the “mass deportation of federal bureaucrats out of Washington, D.C.” However, Musk and Ramaswamy said they would reduce regulations that they describe as excessive. They wrote that their department “will work with legal experts embedded in government agencies, aided by advanced technology,” to review regulations that run counter to two recent Supreme Court decisions that were intended to limit federal rulemaking authority. Musk and Ramaswamy said Trump could “immediately pause the enforcement of those regulations and initiate the process for review and rescission.” Chris Edwards, an expert on budget issues at the Cato Institute, said many Republicans have promised to reduce the size and role of government over the years, often to little effect. Sometimes it feels like every budget item and tax provision, no matter how obscure, has people dedicated to its preservation, turning attempts at cuts into political battles of attrition. “Presidents always seem to have higher priorities,” he said. “A lot of it falls to the wayside.” Although DOGE is scheduled to finish its work by July 4, 2026, Edwards said Musk and Ramaswamy should move faster to capitalize on momentum from Trump’s election victory. “Will it just collect dust on a shelf, or will it be put into effect?” Edwards said. “That all depends on Trump and where he is at that point in time.” Ramaswamy said in an online video that they’re planning regular “Dogecasts” to keep the public updated on their work, which he described as “a once-in-a-generation project” to eliminate “waste, fraud and abuse.” “However bad you think it is, it’s probably worse,” he said. House Republicans are expected to put Rep. Marjorie Taylor Greene, a Trump ally from Georgia, in charge of a subcommittee to work with DOGE, according to two people with knowledge of the plans who were not authorized to discuss them publicly. Greene and Rep. James Comer, the Kentucky Republican who chairs the House Oversight Committee, have already met with Ramaswamy, the two people said. Musk brought up the idea for DOGE while broadcasting a conversation with Trump on X during the campaign. “I think we need a government efficiency commission to say like, ‘Hey, where are we spending money that’s sensible. Where is it not sensible?’” Musk said. Musk returned to the topic twice, volunteering his services by saying “I’d be happy to help out on such a commission.” “I’d love it,” Trump replied, describing Musk as “the greatest cutter.” Musk has his own incentives to push this initiative forward. His companies, including SpaceX and Tesla, have billions of dollars in government contracts and face oversight from government regulators. After spending an estimated $200 million to support Trump’s candidacy, he’s poised to have expansive influence over the next administration. Trump even went to Texas last week to watch SpaceX test its largest rocket. DOGE will have an ally in Sen. Rand Paul, a Kentucky Republican who has railed against federal spending for years. He recently told Fox News that he sent “2,000 pages of waste that can be cut” to Musk and Ramaswamy. “I’m all in and will do anything I can to help them,” Paul said. Get local news delivered to your inbox!
JMU football drops must-win game against App State behind 2nd quarter momentum shiftRaiders confirm QB Gardner Minshew out for season, look to Aidan O'Connell
NoneCLEMSON, S.C. (AP) — South Carolina coach Shane Beamer has no doubt about where his surging, 16th-ranked Gamecocks belong in the postseason — chasing a national championship. “It's hard for me to say we're not one of the 12 best teams in the country,” a giddy Beamer said Saturday after watching his team pull off another late miracle, courtesy of quarterback LaNorris Sellers, to defeat No. 12 Clemson 17-14. Sellers scored his second touchdown , this one from 20 yards out with 1:08 to play, for South Carolina's sixth straight victory, four of them in that run coming over ranked opponents. Are you paying attention, College Football Playoff selectors? “If the committee's job is to pick the 12 best teams, you tell me,” Beamer said. It would be hard to pick against the Gamecocks (9-3, 5-3 SEC; No. 15 CFP) with Sellers, a confident, poised freshman, playing as well as he is. He finished with 166 yards rushing and 164 yards passing. Two games ago, he set career bests with 353 yards passing and five TD throws in twice rallying the Gamecocks from fourth-quarter deficits to defeat Missouri 34-30. This time, Sellers shrugged off his interception near Clemson's goal with less than 11 minutes left to lead his team to a field goal and then his game winner. Sellers spun away from defender Peter Woods in the backfield, broke through the line and cut left to reach the end zone. Sellers hears defenders get angry when they get their hands on but can't bring down the speedy, 6-foot-3 passer in his first year since taking over for Spencer Rattler. How does he do it? “I don't really know,” Sellers said. Beamer had an answer to that one, too. “He's a competitor, he's a warrior,” Beamer said. “He doesn't get too high or too low. He's out there having fun.” The Gamecocks hope to have more fun in a week so, confident they'll hear their name called among the expanded field of 12 that will play for a national crown. They know, too, they'll have Sellers leading the way. “He's a magician, man,” Gamecocks linebacker Demetrius Knight Jr. said. “LeMagic, LeComeback, whatever you want to call him.” Clemson (9-3, 7-1 ACC, No. 12) had a final chance and drove to the South Carolina 18 with 16 seconds left — well within reach of a tying field goal — when Cade Klubnik was intercepted by Knight to end things. The Gamecocks were 3-3 after losing at Alabama in mid-October and then pulled off their longest winning streak since 2012. The Tigers also were hoping to play their way into the CFP's 12-team field. But their offense had too many costly mistakes and their defense could not corral Sellers. “He's a great player and made great players,” Clemson linebacker Barrett Carter said. Still, there could be postseason hope for Clemson, which will cross its fingers and pray Syracuse can pull off an upset over No. 8 Miami later Saturday that would get the Tigers into the Atlantic Coast Conference title game next week against SMU. Both teams came in on highs, the Tigers having won three straight and the Gamecocks five in a row, including three consecutive over ranked opponents Texas A&M, Vanderbilt and Missouri. But neither team found its offensive rhythm in the opening half. Sellers was sacked by T.J. Parker and turned the ball over as Parker recovered with South Carolina inside the Clemson 20. The Tigers drove to the South Carolina 11 and turned down a chip-shot field goal to go for it on fourth-and-1. But Mafah was stopped way short by Jalon Kilgore and Knight. Klubnik had scoring runs of 13 and 18 yards for the Tigers. South Carolina: What a run by the Gamecocks, who before the season were picked 13th in the SEC and now may find themselves part of the national championship playoff field. Clemson: The Tigers lost to both ranked SEC opponents they faced this season, first to No. 1 Georgia to start the year and then to rival South Carolina. Tigers coach Dabo Swinney was proud of his team's regular season but knew the loss might leave it short of getting back to the playoff. “We could've had a great year,” he said. "We got better this season, a lot of positives to build on. “But this one is tough. It's tough. It hurts,” he continued. Shane Beamer knew what a big week it was when he got a voicemail from his old boss, former South Carolina coach Steve Spurrier. “Beamer, you're doing great,” said Spurrier, who coached the Gamecocks from 2005-2014. “This might be the biggest game in the history of South Carolina.” South Carolina and Clemson both await their postseason games. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
Secrets behind £1.6bn Harry Potter TV series – & why Hollywood is backing JK Rowling after trans rowLOS ANGELES (AP) — Blake Snell and the Los Angeles Dodgers have finalized a $182 million, five-year contract. The reigning World Series champions announced the deal with the two-time Cy Young Award winner on Saturday. Snell, who turns 32 on Wednesday, went 5-3 with a 3.12 ERA in 20 starts for San Francisco this year, throwing a no-hitter at Cincinnati on Aug. 2 for one of only 16 individual shutouts in the major leagues this season. The left-hander struck out 145 and walked 44 in 104 innings. He was sidelined between April 19 and May 22 by a strained left adductor and between June 2 and July 9 by a strained left groin. Snell gets a $52 million signing bonus , payable on Jan. 20, and annual salaries of $26 million, of which $13 million each year will be deferred. Because Snell is a Washington state resident, the signing bonus will not be subject to California income tax. Snell joins Shohei Ohtani and Yoshinobu Yamamoto atop Los Angeles’ rotation. Ohtani didn’t pitch this year while recovering from right elbow surgery but the two-way star is expected back on the mound in 2025. Snell won Cy Young Awards in 2018 with Tampa Bay and 2023 with San Diego. He is 76-58 with a 3.19 ERA in nine seasons with the Rays (2016-20), Padres (2021-23) and Giants. Because he turned down a qualifying offer from San Diego last November, the Giants were not eligible to give Snell another one and won’t receive draft-pick compensation. AP MLB: https://apnews.com/hub/MLB
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SINGAPORE , Dec. 5, 2024 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN ) ("Maxeon" or "the Company"), a global leader in solar innovation and channels, today announced its financial results for the third quarter ended September 29, 2024 . Maxeon's Chief Executive Officer George Guo stated, "Third quarter results were distorted due to deliveries detained by the United States Customs and Border Protection ("CBP"), fixed costs associated with factory shutdowns and low production levels, and costs and write-offs from our ongoing restructuring. On top of this, we continue to observe depressed prices as a result of the global oversupply and intense competition. The average market price for high efficiency and mainstream crystalline modules like our IBC products and Performance line products has dropped by approximately 43.5% and 28.6%, respectively, since January 2024 . We recently announced some of the key strategic initiatives undertaken to optimize Maxeon's business portfolio and geographic market focus. Moving forward, we intend to re-create Maxeon as a world leader in solar, focused exclusively in the United States where we believe our market presence and planned local manufacturing create a strong platform to drive growth and profitability in the future. We appreciate the support and patience of our investors as we translate our strategic thinking into concrete actions." Maxeon's Chief Financial Officer Dmitri Hu added, "As we establish our new strategy to transform Maxeon, we are highly focused on our financial position. We intend to reserve sufficient liquidity for daily operations, while we recapitalize the company to fund our restructuring and growth. However, considering the continued uncertainties around CBP detentions, we are unable to provide financial guidance for fourth quarter of 2024. We will defer holding a conference call to discuss quarterly financial results, until the ongoing restructuring is complete and we can provide a more comprehensive view of our go-forward strategy." For more information Maxeon's third quarter 2024 financial results and management commentary can be found on Form 6-K by accessing the Financials & Filings page of the Investor Relations section of Maxeon's website at: https://corp.maxeon.com/investor-relations . The Form 6-K and Company's other filings are also available online from the Securities and Exchange Commission at www.sec.gov . About Maxeon Solar Technologies Maxeon Solar Technologies (NASDAQ: MAXN ) is Powering Positive ChangeTM. Headquartered in Singapore, Maxeon leverages nearly 40 years of solar energy leadership and over 2,000 granted patents to design innovative and sustainably made solar panels and energy solutions for residential, commercial, and power plant customers. For more information about how Maxeon is Powering Positive ChangeTM visit us at www.maxeon.com , and on LinkedIn. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding: (a) our ability to (i) meet short-term and long-term material cash requirements, (ii) service our outstanding debts and make payments as they come due and (iii) continue as a going concern; (b) the success of our ongoing restructuring initiatives and our ability to execute on our plans and strategy; (c) our expectations regarding product pricing trends, demand and growth projections, including our efforts to enforce our intellectual property rights against our competitors; (d) disruptions to our operations and supply chain resulting from, among other things, government regulatory or enforcement actions, such as the detentions of our products by the U.S. Customs Border and Protection (CBP) for an unforeseeable amount of time, epidemics, natural disasters or military conflicts, including the duration, scope and impact on the demand for our products, market disruptions from the war in Ukraine and the Israel-Hamas-Iran conflict; (e) anticipated product launch timing and our expectations regarding ramp, customer acceptance and demand, upsell and expansion opportunities; (f) our expectations and plans for short- and long-term strategy, including our anticipated areas of focus and investment, market expansion, product and technology focus, implementation of restructuring plans and projected growth and profitability; (g) our technology outlook, including anticipated fab capacity expansion and utilization and expected ramp and production timelines for the Company's next-generation Maxeon 7 and Performance line solar panels, expected cost reductions, and future performance; (h) our strategic goals and plans, including statements regarding restructuring of our business portfolio, the Company's anticipated manufacturing facility in the U.S., our transformation initiatives and plans regarding supply chain adaptation, improved costs and efficiencies, capacity expansion, partnership discussions with respect to the Company's next-generation technology, and our relationship with our existing customers, suppliers and partners, and our ability to achieve and maintain them; (i) our expectations regarding our future performance and revenues resulting from contracted orders, bookings, backlog, and pipelines in our sales channels and feedback from our partners; and (j) our projected effective tax rate and changes to the valuation allowance related to our deferred tax assets. The forward-looking statements can be also identified by terminology such as "may," "might," "could," "will," "aims," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and Maxeon's operations and business outlook contain forward-looking statements. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks. The reader should not place undue reliance on these forward-looking statements, as there can be no assurances that the plans, initiatives or expectations upon which they are based will occur. Factors that could cause or contribute to such differences include, but are not limited to: (1) challenges in executing transactions key to our strategic plans, and other restructuring plans, as well as challenges in addressing regulatory and other obstacles that may arise; (2) our liquidity, substantial indebtedness, terms and conditions upon which our indebtedness is incurred, and ability to obtain additional financing for our projects, customers and operations; (3) an adverse final determination of the CBP investigation related to CBP's examination of Maxeon's compliance with the Uyghur Forced Labor Prevention Act; (4) our ability to manage supply chain shortages and/or excess inventory and cost increases and operating expenses; (5) potential disruptions to our operations and supply chain that may result from damage or destruction of facilities operated by our suppliers, difficulties in hiring or retaining key personnel, epidemics, natural disasters, including impacts of the war in Ukraine ; (6) our ability to manage our key customers and suppliers; (7) the success of our ongoing research and development efforts and our ability to commercialize new products and services, including products and services developed through strategic partnerships; (8) competition in the solar and general energy industry and downward pressure on selling prices and wholesale energy pricing, including impacts of inflation, economic recession and foreign exchange rates upon customer demand; (9) changes in regulation and public policy, including the imposition and applicability of tariffs; (10) our ability to comply with various tax holiday requirements as well as regulatory changes or findings affecting the availability of economic incentives promoting use of solar energy and availability of tax incentives or imposition of tax duties; (11) fluctuations in our operating results and in the foreign currencies in which we operate; (12) appropriate sizing, or delays in expanding our manufacturing capacity and containing manufacturing and logistical difficulties that could arise; (13) unanticipated impact to customer demand and sales schedules due, among other factors, to the war in Ukraine , economic recession and environmental disasters; (14) reaction by securities or industry analysts to our annual and/or quarterly guidance, in combination with our results of operations or other factors, and/ or third party reports or publications, whether accurate or not, which may cause such securities or industry analysts to cease publishing research or reports about us, or adversely change their recommendations regarding our ordinary shares, which may negatively impact the market price of our ordinary shares and volume of our stock trading; and (15) unpredictable outcomes resulting from our litigation activities and other disputes. Forward-looking and other statements in this report may also address our corporate sustainability or responsibility progress, plans, and goals (including environmental matters), and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in the Company's filings with the SEC. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission ("SEC") from time to time, including our most recent report on Form 20-F, particularly under the heading "Risk Factors" and Form 6-K filings discussing our quarterly earnings results. Copies of these filings are available online from the SEC at www.sec.gov , or on the SEC Filings section of our Investor Relations website at https://corp.maxeon.com/investor-relations . All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events. Use of Non-GAAP Financial Measures We present certain non-GAAP measures such as non-GAAP gross (loss) profit, non-GAAP operating expenses and earnings before interest, taxes, depreciation and amortization ("EBITDA") adjusted for stock-based compensation, provision for expected credit losses, restructuring charges and fees, remeasurement loss on prepaid forward, physical delivery forward and warrants, gain on extinguishment of debt and equity in income of unconsolidated investees and associated gains ("Adjusted EBITDA") to supplement our consolidated financial results presented in accordance with GAAP. Non-GAAP gross (loss) profit is defined as gross (loss) profit excluding stock-based compensation and restructuring charges and fees. Non-GAAP operating expenses is defined as operating expenses excluding stock-based compensation, provision for expected credit losses and restructuring charges and fees. We believe that non-GAAP gross (loss) profit, non-GAAP operating expenses and Adjusted EBITDA provide greater transparency into management's view and assessment of the Company's ongoing operating performance by removing items management believes are not representative of our continuing operations and may distort our longer-term operating trends. We believe these measures are useful to help enhance the comparability of our results of operations across different reporting periods on a consistent basis and with our competitors, distinct from items that are infrequent or not associated with the Company's core operations as presented above. We also use these non-GAAP measures internally to assess our business, financial performance and current and historical results, as well as for strategic decision-making and forecasting future results. Given our use of non-GAAP measures, we believe that these measures may be important to investors in understanding our operating results as seen through the eyes of management. These non-GAAP measures are neither prepared in accordance with GAAP nor are they intended to be a replacement for GAAP financial data, should be reviewed together with GAAP measures and may be different from non-GAAP measures used by other companies. As presented in the "Reconciliation of Non-GAAP Financial Measures" section, each of the non-GAAP financial measures excludes one or more of the following items in arriving to the non-GAAP measures: Stock-based compensation expense . Stock-based compensation relates primarily to equity incentive awards. Stock-based compensation is a non-cash expense that is dependent on market forces that are difficult to predict and is excluded from non-GAAP gross (loss) profit, non-GAAP operating expense and Adjusted EBITDA. Management believes that this adjustment for stock-based compensation expense provides investors with a basis to measure our core performance, including the ability to compare our performance with the performance of other companies, without the period-to-period variability created by stock-based compensation Provision for expected credit losses . This relates to the expected credit loss in relation to the financial assets under the Separation and Distribution Agreement dated November 8, 2019 (the "SDA") entered into with SunPower Corporation ("SunPower") in connection with the Company's spin-off from SunPower. Such loss is excluded from non-GAAP operating expense and Adjusted EBITDA as this relates to SunPower's business which Maxeon did not and will not have economic benefits to, as the Company's involvement is solely through SunPower's indemnification obligations set forth in the SDA. As such, management believes that this is not part of core operating activity and it is appropriate to exclude the provision for expected credit losses from our non-GAAP financial measures as it is not reflective of ongoing operating results nor do these charges contribute to a meaningful evaluation of our past operating performance. Restructuring charges and fees . We incur restructuring charges, inventory impairment and other inventory related costs associated with the re-engineering of our IBC capacity, and fees related to reorganization plans aimed towards realigning resources consistent with our global strategy and improving its overall operating efficiency and cost structure. Restructuring charges and fees are excluded from non-GAAP operating expenses and Adjusted EBITDA because they are not considered core operating activities. Although we have engaged in restructuring activities and initiatives, past activities have been discrete events based on unique sets of business objectives. As such, management believes that it is appropriate to exclude restructuring charges and fees from our non-GAAP financial measures as they are not reflective of ongoing operating results nor do these charges contribute to a meaningful evaluation of our past operating performance. Gain on extinguishment of debt . This relates to the gain that arose from the substantial modification in June 2024 of our Green Convertible Senior Notes due 2025 (the "2025 Notes") and First Lien Senior Secured Convertible Notes due 2027. Gain on debt extinguishment is excluded from Adjusted EBITDA because it is not considered part of core operating activities. Such activities are discrete events based on unique sets of business objectives. As such, management believes that it is appropriate to exclude the gain on extinguishment of debt from our non-GAAP financial measures as it is not reflective of ongoing operating results nor do these charges contribute to a meaningful evaluation of our past operating performance. Remeasurement loss (gain) on prepaid forward and physical delivery forward . This relates to the mark-to-market fair value remeasurement of privately negotiated prepaid forward and physical delivery transactions. The transactions were entered into in connection with the issuance on July 17, 2020 of the 2025 Notes for an aggregate principal amount of $200 million . The prepaid forward is remeasured to fair value at the end of each reporting period, with changes in fair value booked in earnings. The fair value of the prepaid forward is primarily affected by the Company's share price. The physical delivery forward was remeasured to fair value at the end of the note valuation period on September 29, 2020 , and was reclassified to equity after remeasurement, and will not be subsequently remeasured. The fair value of the physical delivery forward was primarily affected by the Company's share price. The remeasurement loss (gain) on prepaid forward and physical delivery forward is excluded from Adjusted EBITDA because it is not considered core operating activities. As such, management believes that it is appropriate to exclude the mark-to-market adjustments from our Adjusted EBITDA as it is not reflective of ongoing operating results nor do the loss contribute to a meaningful evaluation of our past operating performance. Remeasurement loss (gain) on warrants . This relates to the mark-to-market fair value remeasurement of the exchange warrants and investor warrants. The transactions were entered into in connection with the exchange of 99.25% of the 2025 Notes with aggregate notional amount of $200 million and the 9.00% Convertible First Lien Senior Secured Notes due 2029 of $97.5 million , both entered on June 20, 2024 . The investor warrants were remeasured to fair value prior to them being exercised and were reclassified to equity, and will not be subsequently remeasured. The exchange warrants were remeasured to fair value on September 12, 2024 , and were reclassified to equity after on such date, and will not be subsequently remeasured. The fair value of the warrants was primarily affected by the Company's share price. The remeasurement loss on warrants is excluded from Adjusted EBITDA because it is not considered a core operating activity. As such, management believes that it is appropriate to exclude the mark-to-market adjustments from our Adjusted EBITDA as it is not reflective of ongoing operating results nor do the loss contribute to a meaningful evaluation of our past operating performance. Equity in (income) losses of unconsolidated investees and related gains . This relates to the loss on our former unconsolidated equity investment Huansheng JV and gains on such investment on divestment. This is excluded from our Adjusted EBITDA financial measure as it is non-cash in nature and not reflective of our core operational performance. As such, management believes that it is appropriate to exclude such charges as they do not contribute to a meaningful evaluation of our performance. ©2024 Maxeon Solar Technologies, Ltd. All rights reserved. MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd. Visit https://corp.maxeon.com/trademarks for more information. The following table reconciles our cash and cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets and the cash, cash equivalents and restricted cash reported on our Condensed Consolidated Statements of Cash Flows as of September 29, 2024 and October 1, 2023 : SOURCE Maxeon Solar Technologies, Ltd.
Boys Town Announces Patent Pending on AI Enhanced Training System & Assistive Mixed Reality ...Fresh-faced Kate Hudson is opening the lid on her own fun Thanksgiving. The How To Lose A Guy In 10 Days star, 45, took to Instagram on Friday with a carousel of photos and a video from the festive holiday, complete with her intricate table setting for the turkey dinner as well as other lowkey moments. A post shared by Kate Hudson (@katehudson) The first picture featured Hudson and her daughter, Rani, 6—whom she shares with fiancé Danny Fujikawa, 38—walking the rainy streets of NYC. The actress chose to stick with her famous makeup-free look for the festive holiday as well. She slicked back her blonde hair into a messy updo and bundled up in a black turtleneck, layered underneath a khaki-colored raincoat. Her little one sported a coordinating look with a colourful winter coat and carried a patterned umbrella. “A beautiful rainy love filled NYC Thanksgiving,” the actress, musician and entrepreneur captioned her post. The actress proved back in May that she hasn't changed anything about her classic makeup-free look as she dropped some throwback pictures. A post shared by Kate Hudson (@katehudson) "Glorious couple of days," she captioned a carousel of BTS life moments. The Fabletics co-founder also shares sons Ryder, 20, and Bingham, 1, with exes Chris Robinson and Matt Bellamy respectively. The mom-of three recently posted some pictures with them as well. “A New York minute,” she captioned the collection of NYC photos she posted on November 18. A post shared by Kate Hudson (@katehudson) The Almost Famous actress has spoken at length about co-parenting with her exes before. “Love can change form. It’s interesting when you have that modern family; there’s so much love for all the kids,” she explained in a May interview. “I think the thing that's so unique about my life is that in this very patchwork family, we all have figured it out.” “The kids feel like they have this huge family,” Hudson added. “There is something that has been able to be nurtured in our family that is personally what I think is, it's very rare."
Denver Mayor Mike Johnston sets off firestorm with vows to resist Trump’s mass deportation plansTwo United States senators urged FIFA on Monday not to pick Saudi Arabia as the 2034 World Cup host next month in a decision seen as inevitable since last year despite the kingdom’s record on human rights. Democrats Ron Wyden of Oregon and Dick Durbin of Illinois have told FIFA president Gianni Infantino in a letter “we urge you to seek out a host country with a record of upholding human rights.” Saudi Arabia has been the only candidate for 2034 since FIFA unexpectedly opened a fast-track nomination process in October last year. The contest seemed designed by FIFA for the Saudi bid to win, despite needing to build most of the 15 stadiums needed that risks repeating labor rights issues seen in Qatar over a decade of intense scrutiny before the 2022 World Cup. On Dec. 11, at an online meeting, more than 200 FIFA member federations are expected to jointly endorse by acclamation the Saudi bid plus the only candidate for the 2030 edition. That is a co-hosting plan by Spain, Portugal and Morocco with single games going to Argentina, Paraguay and Uruguay. “Approving Saudi Arabia’s bid this December endangers workers, athletes, tourists, and members of the press, and it runs counter to FIFA’s own human rights policies,” Wyden and Durbin wrote in a letter seen by The Associated Press. “The kingdom continues to torture dissidents, engage in extrajudicial killings, discriminate against the LGBTQ+ community, oppress women and religious minorities, exploit and abuse foreign workers, and restrict almost all political rights and civil liberties,” the letter claimed. Those concerns were aired by United Nations members at the Human Rights Council in January when Saudi Arabia’s track record was examined. At that session in Geneva, Saudi government officials pointed to dozens of reforms in favor of women and a wider modernizing of its society under the Vision 2030 program pushed by Crown Prince Mohammed bin Salman. FIFA’s Infantino has worked to build close ties to the crown prince over several years. The soccer body’s World Cup sponsor deal in April with Saudi state oil firm Aramco signaled a deeper financial relationship ahead of the 2026 edition being co-hosted by the United States, Canada and Mexico. FIFA bid rules for World Cup candidates require an assessment of human rights risks for the tournament, but the analysis by law firm Clifford Chance published in July was criticized by NGOs and activists for lacking independence. That report committed Saudi Arabia to working with the UN-backed International Labor Organization but not global rights experts who have limited access to enter the country to work. “More concerningly,” the senators wrote, “the Saudis have failed to address how they will uphold labor protections, press freedoms, non-discrimination and inclusion standards. “We strongly urge FIFA to take all steps necessary to thoroughly re-evaluate Saudi Arabia’s ill-equipped World Cup bid ahead of December and select a rights-respecting host country."
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