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Why Broadcom, Micron, and Intel Stock Are Jumping Today 2024-03-08 04:22:00+00:00 - Top semiconductor stocks are climbing again in Thursday's daily trading session. Broadcom (NASDAQ: AVGO), Intel (NASDAQ: INTC), and Micron Technology (NASDAQ: MU) were up 3.6%, 3.7%, and 4%, respectively, as of 3 p.m. ET, according to data from S&P Global Market Intelligence. Before the market opened today, Mizuho published a note on Nvidia stock and raised its one-year price target from $850 per share to $1,000 per share. The positive analyst coverage had helped send the artificial intelligence (AI) leader's share price roughly 3.5% higher in the daily session as of this writing -- and the bullish news had spillover benefits for other top chip stocks. But Broadcom, Micron, and Intel are also enjoying their own company-specific valuation tailwinds today. Intel is racking up wins with the U.S. military According to a report published by Bloomberg today, Intel is on track to score another big public-sector win. The report states that the U.S. government is poised to invest $3.5 billion in the company to aid the production of chips that will be used for military and intelligence purposes. With concerns that China will soon move to exercise greater control over Taiwan, other world powers are trying to secure new sources for high-performance semiconductors. Currently, Taiwan Semiconductor Manufacturing accounts for roughly 60% of the global contract chip market -- and 90% of the market when it comes to the kinds of advanced chips used for AI and other accelerated-computing processes. If China were to tighten its hold on Taiwan, it could result in major supply chain disruptions, urgent security issues, and dramatically negative impacts on the global economy. Due to these risks, the U.S. and other Western allies have been moving to ramp up alternative chip-production capabilities. Intel has emerged as a leading beneficiary of this trend and looks poised to see chip fabrication for third-party customers become a driving force of new growth. Matching Taiwan Semiconductor's production capabilities will take years, even in optimistic scenarios. Still, it's increasingly clear that Intel will have major public-sector backing aiding its pursuits in the fab space. Story continues Stifel raises its rating on Micron stock In a note published before the market opened today, Stifel upgraded its rating on Micron Technology stock from hold to buy. The firm also increased its one-year price target on the stock from $80 per share to $120 per share. Stifel cited favorable demand trends for DRAM, paving the way for stronger near-term business and stock performance for Micron. In particular, the firm thinks the current midpoint endpoints for the company's business performance in 2025 will wind up proving far too low. Between improving business results and a backdrop that will pave the way for the stock to see valuation-multiple expansion, the firm believes the stock has plenty of room to run. If the stock were to hit the new price target, it would mean additional upside of roughly 20% over its current pricing level. Mizuho raised the firm's price target on Broadcom to $1,550 from $1,450 and kept a buy rating on the shares. The analyst is taking a longer-term look at the AI and custom silicon landscape. The firm cites positive AI custom silicon and ethernet tailwinds for the target increase. It sees further multiple expansion with numerous catalysts ahead. Mizuho is also increasingly bullish on Broadcom In addition to publishing a bullish note on Nvidia stock today, Mizuho championed Broadcom. The firm maintained a buy rating on the stock and raised its one-year price target from $1,450 per share to $1,550 per share. The stock currently trading at roughly $1,397 per share would imply an additional upside of roughly 11% within the next year. As with Nvidia, Mizuho cited rising demand for custom AI chip designs and new ethernet tailwinds as reasons for raising its price target. Along with expectations for improving business in the near term, the firm expects that the improving long-term outlook will make investors willing to assign higher valuation multiples to the stock. While the market will undoubtedly see some unexpected twists and turns, there's a lot to like about the long-view outlook for the semiconductor industry right now. In addition to positive catalysts stemming from the emergence of new AI technologies, it's a virtual certainty that chips will continue to play an increasingly important role in global economic activity and everyday life. Taking a broad-based approach to top companies in the semiconductor could be a smart move for long-term investors. Should you invest $1,000 in Broadcom right now? Before you buy stock in Broadcom, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Broadcom wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of February 26, 2024 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and Intel and recommends the following options: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel, and short May 2024 $47 calls on Intel. The Motley Fool has a disclosure policy. Why Broadcom, Micron, and Intel Stock Are Jumping Today was originally published by The Motley Fool

Should I Take a $48,000 Lump Sum or $462 Monthly Payments for a Pension Annuity? 2024-03-08 03:58:00+00:00 - Buyout decisions have become increasingly common for those with a pension plan. If you get this offer, the most important questions to deal with include when you would you receive the payout, and how long you expect to live. The earlier you would receive a lump sum payout, the more it will be worth to you in retirement. On the other hand, the longer you live to collect monthly payments, they can add up to be higher over time. So as an example, if you’ve been offered $48,000 in exchange for waiving a $462 monthly payment, you may want to play the percentages and take a buyout if you’re above a certain age. Otherwise, monthly payments might be the preferable way to go Do you have questions about your retirement plans? Speak with a financial advisor today. Should You Take the Lump Sum or Monthly Payments? A pension plan is a retirement benefit offered by some employers. Basically, it offers you a guaranteed amount of money every month starting in retirement and lasting for the rest of your life. Increasingly, as a way of saving money, companies are offering their current and former employees an option known as a "buyout." This means they’ll pay you a lump sum up front in exchange for any other payments. For example, you might have these two hypothetical choices: Monthly Payments: $462 per month for life, starting when you retire Lump Sum Buyout: $48,000 immediately, with no further payments The question is, what should you do with an offer like this? "There are a number of important points to evaluate before choosing either a lump sum or annuity payment," Jeremy L. Suschak of DBR & Co. told SmartAsset. "First, the owner of the pension should consider their health. It is critical to think about this first since health-related factors could end up making the financial tradeoffs moot." Pension Value Is Based on Longevity Suschak raises an issue known as longevity risk. Essentially, the value of a monthly pension is based on how long you will live. You don’t need to worry about bankruptcy risk, as the federal government's Pension Benefit Guaranty Corporation insures monthly payments well above $462. Story continues For instance, say that you start collecting your pension at the age of 67. Someone in good health can potentially expect to live another 25 years, making this pension worth $138,600, at $462 a month over that time. But that may only be true for someone in good health. If you expect to live, say, another 10 years, then this same pension is worth just $55,440. So the healthier you are, the more this pension is likely worth. Longevity risk and your personal risk tolerance are important items to understand when making a crucial decision for your upcoming retirement. A financial advisor can help you understand these terms and build a plan for the future. Lump Sum Value Is Based on Payout Date Let’s assume you have no cost of living adjustments on the pension annuity or rate of return on the lump sum payment. Then, at $462 a month and $5,544 annually, you need to reach 8.65 years to have the pension payments break even with a $48,000 lump sum payment. "In this simplified scenario, when the retiree’s life expectancy is less than 8.65 years, the lump sum would be preferred," Bryan M. Kuderna, founder of Kuderna Financial Team, said. This analysis represents the payout date issue, as the value of any buyout is based on when you would collect it. If you receive this buyout at or near retirement and withdraw $462 per month, even with a 10% rate of return, the money would only last about 14 years. On the other hand, say you are offered the same buyout at age 37 and put the entire amount into an S&P 500 index fund with a historical average annual return of 10%. By age 67 when you might want to retire, it would be worth $837,571 if you didn’t contribute anything extra. With these numbers, the sweet spot is around 14 years. If received at age 53, assuming the same standard S&P 500 return, a $48,000 lump sum can grow to about $182,000. That's the breakeven point where your lump sum investment will exceed the amount you'd collect over a reasonable life expectancy. Other Income and Longevity Concerns to Manage Finally, suggests Suschak, "pension owners should think about the type and amount of other income streams available to them in retirement. All income sources, including the pension, should be considered in relation to the anticipated level of spending in retirement." What kind of Social Security payments will you receive? What do you have in other retirement accounts, and how secure are they? Overall, where does this pension fit into your retirement plans? These questions help define how much you should prioritize the security of a monthly payment over the potential opportunity of a lump sum. If you have significant other sources of income, you might want to choose a lump sum and invest it. On the other hand, if this is a significant part of your retirement plan, it may be wise to prioritize the security of the annuity payments over the investment opportunities of the buyout. Bottom Line Whether you should take a pension buyout depends on when it’s offered to you and your life expectancy, among many other factors. For most pensions, the earlier your employer offers the buyout, the better a deal it can be. But the closer you are to retirement age, the more you may want to prioritize monthly payments. Retirement Planning Tips A financial advisor can help you build a retirement plan for the future. Finding a financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you're ready to find an advisor who can help you achieve your financial goals, get started now. Get retirement planning and investing tips with the SmartMoney Minute newsletter. It’s 100% free and you can unsubscribe at any time. Sign up today. Photo credit: ©iStock.com/g-stockstudio, ©iStock.com/megaflopp The post Should I Take a $48,000 Lump Sum or $462 Monthly Payments for a Pension Annuity? appeared first on SmartReads by SmartAsset.

We Will Make Over $300,000 Combined This Year. Can We Use a Backdoor Roth to Reduce Taxes? 2024-03-08 03:55:00+00:00 - High-income households can use what's called a "backdoor Roth" to utilize a Roth IRA despite the program's standard income restrictions. This can be an effective way to build a tax-free stream of income for your retirement, and it is a completely legal strategy. Whether this method will reduce your taxes depends heavily on your tax rates now versus what you’ll pay in retirement. For some high-earners, a Roth IRA can actually be a money loser if it means you end up spending more on taxes today than you will save on taxes in retirement. Do you have questions about taxes and retirement planning? Speak with a financial advisor today. What Is a Backdoor Roth? A Roth IRA is what's called a "post-tax" retirement account. This means that you contribute to it with money that you've already paid taxes on. Then, in retirement, you make withdrawals on both your contributions and any growth completely tax-free. The idea is that it's more expensive upfront to build a Roth IRA compared with a pre-tax portfolio like a traditional IRA or 401(k), but you save taxes on your portfolio at its peak value as a retiree. However, Roth IRAs also have income limits. For 2024, if you’re single and make less than $146,000 or married and make less than $230,000, you can contribute up to $7,000 for the year. This contribution limit begins to shrink and phase out up to the ultimate income caps of $161,000 and $240,000 for single and joint filers, respectively. For high-earners beyond these figures, this would lock you out of a Roth IRA. The solution to this is what's called a backdoor Roth, though. With this approach, you open a traditional IRA (which has no income limits) and a Roth IRA. You contribute money to the traditional, pre-tax IRA, then, either in one lump sum or periodically, convert the funds over to your Roth IRA. Since the IRS puts no income limits on Roth rollovers, you can build a fully funded Roth IRA regardless of household income. Of course, you’ll need to be prepared to pay taxes upfront on all of that money, so take that into consideration as well. You may also find it helpful to work with a financial advisor when planning a backdoor Roth. Story continues Backdoor Roth Conversion Taxes and Cooldowns When you convert money to a Roth IRA, you will need to pay income taxes on the entire amount in the tax year that you make the conversion. For example, if you move $50,000 from your traditional IRA to your Roth IRA, you would add on $50,000 to your taxable income that year, potentially pushing you into higher tax brackets in the process. It's important to manage your cash flow appropriately for this tax event. Unlike portfolio withdrawals, a conversion doesn't generate spendable cash that you can use to pay these taxes. You will need to have the money on hand. Also, remember to account for the pro-rata rule. If your IRA contains a mix of deductible and non-deductible contributions, you will pay taxes based on their proportion in your account. You cannot simply volunteer to move all of the nondeductible contributions and avoid conversion taxes. It's not uncommon for households to convert their IRA on a regular basis, say each year or every several months. This can help maximize your untaxed gains, but conversion taxes apply each time you roll money over. Ongoing transfers can also help get around the Roth IRA's cooldown period, also known as the 5-year rule. Long-Term Tax Benefits of a Backdoor Roth A Roth IRA offers several benefits. Primarily, because you pay taxes on the funds upfront, this portfolio will grow tax-free and you will pay no taxes on your withdrawals. It also has no required minimum distributions (RMDs), giving you more flexibility in your financial planning. High-earning households may not find it helpful to save money with this vehicle. In fact, the more you make, the easier it could be to end up paying more in conversion taxes than you’ll actually save on income taxes in retirement. The standard rule of thumb is that a Roth IRA is typically better if you expect to pay higher taxes in retirement than you do currently. On the other hand, a traditional IRA can be optimal if you expect your tax rates in retirement to go down. For example, say that you pay an effective rate of 20% in taxes while working and have $50,000 to invest: Roth IRA: You pay $10,000 in taxes and invest the other $40,000 Traditional IRA: You pay $0 in taxes and invest the full $50,000 Now, say that your portfolio has doubled in value by the time you reach retirement. For taxes, you now pay an effective rate of 22% and withdraw all of the funds: Roth IRA: You pay $0 in taxes and keep $80,000 Traditional IRA: You pay $22,000 in taxes and keep $78,000 This is where the rule of thumb comes from. The Roth would still leave you with $80,000, but the traditional IRA's after-tax value would drop to $78,000. On the other hand, say that your effective tax rate had dropped to just 15% in retirement. The Roth would then generate the same $80,000, but the traditional IRA's value would surpass it at $85,000 after taxes. That’s why this decision always comes down to whether your tax rates will be higher or lower in retirement compared to your working life. For a high-earning household who’s making $300,000, it could be helpful to speak with a financial advisor. A backdoor Roth might help reduce your taxes depending on your anticipated retirement income and current investment strategy, but there's a chance that you might actually spend more than you save in the long run. Tips on Making a Roth Conversion A financial advisor can help you build a comprehensive retirement plan. Finding a financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you're ready to find an advisor who can help you achieve your financial goals, get started now. Planning for your retirement income can be a complicated and speculative process. But knowing your tax bracket isn't. Once you know what you plan on withdrawing, try using an income tax calculator. Photo credit: ©iStock.com/Zolak, ©iStock.com/kate_sept2004 The post We Will Make Over $300,000 Combined This Year. Can We Use a Backdoor Roth to Reduce Taxes? appeared first on SmartReads by SmartAsset.

State of the Union 2024 live updates: Biden to announce a new Gaza port for aid in speech tonight 2024-03-07 22:01:00+00:00 - As the White House prepares for disruptions during Biden's speech, one prominent progressive leader promised that Democratic members of all stripes will be respectful during Biden’s speech. “You’re going to see rudeness and disrespect from Republicans, not from Democrats,” said Rep. Pramila Jayapal, of Washington, the chair of the Congressional Progressive Caucus. “Tell me when there’s been a speech where Democrats have interrupted even a Republican president, even during the Trump years? You didn’t see that,” she said. Show more Progressive activists have been more aggressive in confronting Biden in an attempt to push him to pressure Israel to end the war in Gaza and immediately move humanitarian assistance in for the tens of thousands of Palestinians who have been caught up in the conflict. Several of Biden’s speeches have been interrupted by pro-Palestinian protesters to the point where the White House has made an effort to vet guests of the president before his events to avoid protests. Jayapal was confident that there would be no outbursts from the members themselves but could make no guarantees about their guests, whom the White House doesn't vet. Two sources say Democratic leaders in the House and Senate are concerned that some members or their guests may use the platform to voice their frustration with the administration but have reminded their members about decorum in the House. Jayapal did acknowledge the frustration from progressive members and the growing movement to vote "Uncommitted" in Democratic primaries as a way to protest Biden's policies on Israel. She said she hoped the president would listen to those concerns and forcefully lean into the White House policy of calling for a cease-fire in the conflict "I would love to hear him say an immediate and permanent cease-fire,” she said. “But listen, we are moving. I think he (Biden) is listening. I do see a shift in rhetoric. I have yet to see the shift in policy." While Jayapal said she would be voting for Biden in November, she said the administration should take the “uncommitted” movement as a real warning sign that progressive voters might stay home in the fall if they don’t see a change. “If we lose this election … I believe it will be because of our policy in the Middle East,” she said.

Yep, He Did It Again 2024-03-07 21:45:41+00:00 - Rupert Murdoch decided that at 92, it was time to give up the reins of power at his media empire — but it seems he believes age is no barrier for new love, or a new marriage. On Thursday, Mr. Murdoch’s office said that he planned to marry his girlfriend, Elena Zhukova, 67, a retired molecular biologist whom he started dating in the summer. The nuptials, scheduled for June, would culminate a topsy-turvy romantic journey to a fifth marriage for Mr. Murdoch, whose personal dramas have frequently made him the focus of the tabloid gossip industry he helped create. After he divorced Jerry Hall, the model and ex-wife of Mick Jagger, in the summer of 2022, he became engaged to Ann Lesley Smith, a retired dental hygienist, in the spring of 2023. He abruptly broke off that engagement, however, after about two weeks.

Key OpenAI Executive Played a Pivotal Role in Sam Altman’s Ouster 2024-03-07 21:44:12+00:00 - More than three months after OpenAI’s board of directors briefly ousted Sam Altman, the chief executive of the high-profile artificial intelligence company, questions remain about exactly what led the board to make such a dramatic move. A report from an outside law firm, which is expected in the coming days, could shed more light on the board’s decision as well as the chaotic five days before Mr. Altman returned to the company. But as anticipation for the report grows, previously unreported details are emerging about the role that Mira Murati, OpenAI’s chief technology officer, played in the ouster of Mr. Altman. Ms. Murati wrote a private memo to Mr. Altman raising questions about his management and also shared her concerns with the board. That move helped to propel the board’s decision to force him out, according to people with knowledge of the board’s discussions who asked for anonymity because of the sensitive nature of a personnel issue.

Crew of the giant Icon of the Seas cruise ship rescues 14 people adrift in the sea 2024-03-07 21:41:31+00:00 - MIAMI (AP) — The crew of what is considered the world’s largest cruise ship rescued 14 people clinging to a small boat adrift on the ocean, authorities said. Passengers aboard the Icon of the Seas captured video of the crew using a small vessel to ferry the group to the safety of the cruise ship on Sunday. The cruise had begun in Miami, and the ship was headed for Honduras when the rescue happened, passengers said. The cruise ship encountered the small vessel “adrift and in need of assistance,” Miami-based Royal Caribbean said in a statement to The Associated Press on Thursday. “The ship’s crew immediately launched a rescue operation, safely bringing 14 people on board,” the company said. “The crew provided them with medical attention, and is working closely with the U.S. Coast Guard.” The crew broadcast “Code Oscar, Code Oscar, Code Oscar,” over the loudspeakers around 3 p.m., Alessandra Amodio said in a report on FoxWeather.com. Amodio said she watched as people on the tiny craft waved a large white flag. “The boat turned around, and we pulled up as close as we could to them and stopped,” Amodio said. The cruise ship then launched “a small zodiac-type rescue boat to investigate.” After the rescue, Amodio said the cruise ship’s captain announced that the crew had rescued 14 people stranded at sea for eight days. The Icon of the Seas is considered by cruise industry experts to be the largest cruise ship in the world at the moment, the Miami Herald reported. It can host 5,610 guests and 2,350 crew members. The ship has 2,850 staterooms, 18 guest decks and seven swimming pools.

Self-Service for Airport Security? It’s Happening in Las Vegas. 2024-03-07 21:40:20+00:00 - As most air travelers can attest, the experience at an airport’s security checkpoint can be far from serene. There are many rules — often shouted by Transportation Security Administration officers — about what you can bring with you, how to array your belongings and where to stand. Lines can be painfully long and anxieties sky high. And throughout the process, there are security officers. But at Harry Reid International Airport in Las Vegas, a new kind of security screening, unveiled by the T.S.A. on Wednesday, is led by the passenger themselves. The system, which uses video monitors, facial recognition software and body scanners, is not about shaving time off the travel journey, but about improving the overall passenger experience, said Christina Peach, a deputy assistant administrator for requirements and capabilities at the T.S.A. “Individuals want to be able to complete the screening process at their own pace and with minimal interaction with our officers,” she said.

Last-of-its-kind battleship USS Texas returns to the water after months of work to restore the warship to its former glory 2024-03-07 21:34:02+00:00 - The battleship USS Texas returned to the water after months of dry-dock restoration work. The battleship is famous for its involvement in both World War I and World War II. Repairs to the last dreadnought have so far taken 18 months and cost more than $21 million. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Mighty USS Texas is back in the water after months of much-needed restoration work for the 110-year-old battleship. The warship, which saw action in both world wars before becoming a museum ship, will now undergo further restoration before re-opening up to the public late next year. Video footage from Tuesday morning's event in Galveston, Texas, shows the decommissioned US Navy battleship being refloated and removed from a dry dock. USS Texas had been undergoing restoration at the Gulf Copper Dry Dock & Rig Repair in Galveston since it was moved there for repair work in 2022. The Battleship Texas passes Seawolf Park and the U.S.S. Stewart, an Edsall-class destroyer escort, as it enters the Galveston Channel toward a dry dock for major repairs Wednesday, Aug. 31, 2022 in Galveston. Houston Chronicle/Hearst Newspapers via Getty Images When it was relocated to Galveston, Travis Davis, the vice president of ship operations at the Battleship Texas Foundation, announced plans for the restoration. He also confirmed the Texas would have a new home afterwards. Advertisement Tugboats guide Battleship Texas out of a drydock on Tuesday, March 5, 2024 in Galveston. Houston Chronicle/Hearst Newspapers via Getty Images In pictures of the warship being refloated, its powerful deck guns are visible in the fog, which settled out over time. The Battleship Texas emerges from the fog as it is removed from a drydock on Tuesday, March 5, 2024 in Galveston. Houston Chronicle/Hearst Newspapers via Getty Images Elements of the ship's superstructure were still notably under construction, with The Battleship Texas Foundation confirming on Tuesday that work still needed to be done to replace the wooden deck, restore dozens of spaces inside, and finish re-painting, among other fixes. Its extensive repairs have so far cost more than $21 million. At Tuesday's event, Tony Gregory, president and CEO of the Battleship Texas Foundation, expressed optimism about the work that had been done and what was left to do. "We feel great," he said. "It's been in the dry dock 18 months." Advertisement "It was a major victory to get her here in the dry dock," Gregory added, referring to the journey from San Jacinto Battleground State Historic Site to Galveston, during which there were concerns it might sink, "and this is a result of our hard work and what we've been doing for the last 18 months working on the hull." Drone footage from Third Coast Drone showed the warship back in the water Tuesday. The goal is to reopen the museum ship to the public by late 2025. The battleship #Texas BB-35 was refloated yesterday in Galveston, USA, after several months of extensive restoration work. Launched in 1910, she took part in the Normandy D-Day in 1944. 📽️Third Coast Drone Full movie in 4K : https://t.co/V0vLFS39Jn#battleships #USNavy #WWII pic.twitter.com/OO5k52DwNt — Ships Of Legend (@ShipsOfLegend) March 6, 2024 The USS Texas, once one of the most powerful and intimidating warships to sail the upon the seas, is now the last of its kind, revered for its history. When it was first launched in 1912, it was one of a dozen dreadnoughts, featuring hefty defenses and devastating deck guns, which could be used to deal damage on land and at sea. During World War I, the Texas spent most of its time patrolling the North Sea, and in December 1918, it escorted President Woodrow Wilson to France for peace negotiations. Advertisement The battleship is more famous for its service in World War II, when it bombarded German defenses during the D-Day invasion and hammered the Japanese forces during the Battle of Iwo Jima and the invasion of Okinawa. The Texas was one of the first ships equipped with anti-aircraft weapons. Upon its retirement, the USS Texas became a museum before undergoing a first round of repairs in 1988. In recent years, the need for further repairs, especially in the aged hull, became quite clear. Now the process is underway to restore the big ship to its former glory.

Bill that could make TikTok unavailable in the US advances quickly in the House 2024-03-07 21:29:20+00:00 - WASHINGTON (AP) — A bill that could lead to the popular video-sharing app TikTok being unavailable in the United States is quickly gaining traction in the House as lawmakers voice concerns about the potential for the platform to surveil and manipulate Americans. The measure gained the support of House Speaker Mike Johnson and could soon come up for a full vote in the House. The bill advanced out of committee Thursday in a unanimous bipartisan vote — 50-0. The White House has provided technical support in the drafting of the bill, though White House press secretary Karine Jean-Pierre said the TikTok legislation “still needs some work” to get to a place where President Joe Biden would endorse it. The bill takes a two-pronged approach. First, it requires ByteDance Ltd., which is based in Beijing, to divest TikTok and other applications it controls within 180 days of enactment of the bill or those applications will be prohibited in the United States. Second, it creates a narrow process to let the executive branch prohibit access to an app owned by a foreign adversary if it poses a threat to national security. “It’s an important, bipartisan measure to take on China, our largest geopolitical foe, which is actively undermining our economy and security,” Johnson said Thursday. Some lawmakers and critics of TikTok have argued the Chinese government could force the company to share data on American users. TikTok says it has never done that and wouldn’t do so if asked. The U.S. government also hasn’t provided evidence of that happening. Critics also claim the app could be used to spread misinformation beneficial to Beijing. Former President Donald Trump attempted to ban TikTok through executive order, but the courts blocked the action after TikTok sued, arguing such actions would violate free speech and due process rights. TikTok raised similar concerns about the legislation gaining momentum in the House. “This bill is an outright ban of TikTok, no matter how much the authors try to disguise it. This legislation will trample the First Amendment rights of 170 million Americans and deprive 5 million small businesses of a platform they rely on to grow and create jobs,” the company said in a prepared statement. The bill’s author, Rep. Mike Gallagher, the Republican chairman of a special House committee focused on China, rejected TikTok’s assertion of a ban. Rather, he said it’s an effort to force a change in TikTok’s ownership. He also took issue with TikTok urging some users to call their representatives and urge them to vote no on the bill. The notification urged TikTok users to “speak up now — before your government strips 170 million Americans of their Constitutional right to free expression.” The notification also warned that the “ban” of TikTok would damage millions of businesses and destroy the lives of countless creators around the country. “Today, it’s about our bill and it’s about intimidating members considering that bill, but tomorrow it could be misinformation or lies about an election, about a war, about any number of things,” Gallagher said. “This is why we can’t take a chance on having a dominant news platform in America controlled or owned by a company that is behold to the Chinese Communist Party, our foremost adversary.” The bill comes about one year after TikTok’s CEO was grilled for hours by skeptical lawmakers on the House Energy and Commerce Committee concerned about data security and the distribution of harmful content. That same committee met Thursday to debate and vote on the bill. Rep. Cathy McMorris Rodgers, the committee’s Republican chair, said TikTok’s access to so many Americans makes it a valuable propaganda tool for the Chinese government to exploit. She also noted that its parent company ByteDance is currently under investigation by the U.S. Department of Justice for surveilling American journalists. “Through this access, the app is able to collect nearly every data point imaginable, from people’s location, to what they search on their devices, who they are connecting with, and other forms of sensitive information,” Rodgers said. To assuage concerns from lawmakers, TikTok has promised to wall off U.S. user data from its parent company through a separate entity run independently from ByteDance and monitored by outside observers. TikTok says new user data is currently being stored on servers maintained by the software company Oracle. The American Civil Liberties Union and other free speech advocacy groups urged lawmakers to reject the TikTok bill, saying in a letter to the Energy and Commerce Committee’s leadership that “passing this legislation would trample on the constitutional right to freedom of speech of millions of people in the United States.” Biden’s reelection campaign has opened a TikTok account as a way to boost its appeal with young voters, even as his administration continued to raise security concerns about whether the popular social media app might be sharing user data with China’s communist government. Jean-Pierre said the White House welcomes lawmakers’ efforts on the TikTok legislation, but lawmakers need to continue work on it. “Once it gets to a place where we think .. it’s on legal standing and it’s in a place where it can get out of Congress, then the president would sign it,” she told reporters on Wednesday during the daily White House briefing. She also defended the White House’s efforts to limit the dangers of TikTok, even as the president engages with influencers on the social-media platform and his campaign hosts a TikTok account. “We are going to try to meet the America people where they are,” Jean-Pierre said. “We are trying to reach everyone. The president is the president for all Americans .. it doesn’t mean that we’re not going to try to figure out how to protect our national security.” ___ Associated Press staff writer Seung Min Kim contributed to this report and staff writer Mae Anderson contributed from Brooklyn, New York. Hadero reported from Jersey City, New Jersey.

Trump's lawyers are hunting for the identity of secret consultants who approved Pulitzer prizes for Russiagate coverage 2024-03-07 21:26:38+00:00 - Donald Trump is suing the Pulitzer Prize Board for awarding coverage of his ties to Russia. The board said two independent reviews concluded the prizes should stand. In depositions, his lawyers are seen hunting for the identities of those anonymous reviewers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement In an overlooked lawsuit, Donald Trump's lawyers are exhibiting a habit from his White House days: Hunting for anonymous sources. In transcripts of four depositions obtained by Business Insider, Trump's attorneys had the opportunity to question journalists about a mystery that has vexed them for years: Who are the anonymous consultants who reviewed the Pulitzer Prizes awarded to The New York Times and The Washington Post for their coverage of Trump's connections to Russia? The depositions were taken last year for a lawsuit Trump brought in December 2022, suing the Pulitzer Prize Board, which administers American journalism's highest honors. He accused the board and its 18 members of defaming him by awarding the 2018 Pulitzer Prize for National Reporting to The Washington Post and The New York Times for their coverage of Russia's interference in the 2016 election and the country's connections to Trump's presidential campaign and administration. In his lawsuit, Trump complained that journalists and the Pulitzer board conspired together as part of a larger "Russia Collusion Hoax," which the former president claimed was "fully debunked." Advertisement In reality, investigations from Robert Mueller and a US Senate intelligence committee found numerous connections between Russian efforts and the Trump campaign, even as they did not conclude that Trump personally fostered them. Much of Trump's lawsuit focuses on a July 2022 statement from the Pulitzer board, where it announced the prizes would stand after Trump called on it to rescind the awards. The board announced that it commissioned "two independent reviews" of the work submitted by the Times and the Post that won the 2018 prize, which "were conducted by individuals with no connection to the institutions whose work was under examination, nor any connection to each other." Each review independently concluded the prize-winning stories were not "discredited by facts that emerged subsequent to the conferral of the prizes," the board said. Advertisement To this day, the Pulitzer board has not disclosed who did the reviews and what they consisted of. Nor have its members explained why they are keeping the information a secret. Trump's lawyers are trying to get to the bottom of it. In the depositions Business Insider obtained, Trump's lawyers question the defendants — all journalists — about what they describe as their "use of anonymous sources" with the Pulitzer statement. "Without identifying those individuals, I guess we have no way to verify the truth of the statement," Trump's lawyer R. Quincy Bird asked investigative journalist Katherine Boo in her deposition, taken in August 2023. "So Ms. Boo, I'll ask it directly, who conducted the external review?" At each turn, a lawyer for the Pulitzer Board members stopped their clients from answering. Advertisement The hunt for the identity of the Pulitzer board's reviewers demonstrates how some of Trump's attitudes toward media — an obsession with anonymous sources and paranoia of supposed shadowy figures he claims to believe are conspiring against him — have leaked beyond the political arena and into his lawsuits. Chad R. Bowman, an attorney at the law firm Ballard Spahr, said in a deposition transcript that the identities of the people who conducted the reviews for the Pulitzer board were subject to "First Amendment privilege to protect sources." "I'm going to instruct the witness not to answer on the basis of First Amendment privilege," Bowman said in the deposition. Trump's lawyers indicated they disagreed with Bowman's assertion, but haven't yet filed any court motions asking the judge to force the defendants to identify the reviewers — a step normally taken when lawyers don't get the answers they want during a deposition. Advertisement Marjorie Miller, the administrator of the Pulitzer Prizes, declined to comment on the lawsuit. "We are not at liberty to discuss this case," she told Business Insider. The journalists whom Trump's lawyers deposed did, however, offer some characterization of the "consultants" who conducted the reviews. Miller, who sat for a deposition on May 23 last year, testified the people were "widely recognized as leaders" in American journalism. Boo told Trump's lawyers that she was not involved in the first review, which took place in 2019. She said she had confidence in the results of the second review, which took place in 2021, and took additional information into account. Advertisement "It was a person who had no relationship and person who had the stature and, I believe, ethical clarity and the moral rigor to be frank with the board should problems with those submissions be submitted," Boo said. The depositions shed light on the Pulitzer's secretive reviews Trump's attacks on journalism remain a pillar of his political message. And he has extended his language railing against a "witch hunt" against him to include his many legal problems — including four separate grand jury criminal cases — as he runs in the 2024 presidential election. In 2023, a PAC Trump controls gave over $260,000 in donor money to Weber, Crabb, & Wein, the law firm representing him in the Pulitzer case, according to a Business Insider analysis of disbursement records. The Pulitzer Prize Board is hosted by Columbia University, in Manhattan, which manages the small organization's payroll and offers institutional support. But Trump brought his lawsuit in Florida, arguing the state has jurisdiction in the defamation lawsuit because he lives at Mar-a-Lago. His lawsuit also points out that the Pulitzer board includes Neil Brown, a Florida resident who serves as the president of the Poynter Institute for Media Studies and worked as the top editor at the Tampa Bay Times. Advertisement A judge overseeing the case blocked Trump's lawyers from issuing subpoenas for depositions and records for the merits of the case, allowing only jurisdictional discovery. The defendants — which include New Yorker editor in chief David Remnick, USA Today editor in chief Nicole Carroll, former Columbia University president Lee Bollinger, former Los Angeles Times executive editor Kevin Merida, and novelist Viet Thanh Nguyen, among others — all submitted paperwork describing their lack of connections to the state of Florida. Associated Press Vice President and Global Enterprise Editor Marjorie Miller stands for a portrait in the news agency's New York City headquarters, Tuesday, Mar., 29, 2022. On Thursday, March 31, 2022, the Pulitzer Prize Board and Lee C. Bollinger, president of Columbia University, which hosts the prestigious journalism awards, announced Miller has been named as the new administrator of the Pulitzer Prizes. AP Photo/J. David Ake Trump's lawyers deposed Miller, along with three board members who served as cochairs when the 2022 statement was issued: Katherine Boo, New York Times opinion columnist Gail Collins, and Associated Press standards editor John Daniszewski. Those depositions were supposed to focus on obtaining information to bolster Trump's jurisdictional arguments. But his lawyer's questions frequently went outside those lines, Bowman complained during them. Advertisement During Miller's deposition, for instance, Bird attempted to ask questions about how the Pulitzer board came to hire her in the administrator role. "Counsel, I don't want to engage in argument with you," Bowman snapped. "I disagree that you can ask any question whether or not it's relating to jurisdiction because it has some tie to a document." Though the Pulitzer board members declined to identify who conducted the reviews, their depositions shed some light on the process. Daniszewski said the Pulitzer board had "engaged two outside consultants" toward the end of the tenure of the administrator who preceded Miller, the publisher Dana Canady, to consider "five or six complaints" about the prizes. Some of those complaints were about historical issues, and one was about Trump's complaint about the prizes to the Times and the Post. Advertisement "They recommended to the board that no action be taken and that the basis for the complaint was unfounded," Daniszewski said in his deposition. As more complaints from Trump rolled in, the Pulitzer board debated whether to conduct another review. Boo, Miller, and Daniszewski all said the board gets occasional complaints and doesn't always find them worth addressing, but the Pulitzer board took Trump's criticism seriously. "Not everyone on the board agreed that the facts in the case warranted external review, and there was a debate, and the majority decided that it did warrant external review," Boo said. 2018 Pulitzer Prize winners pose for pictures during the awards luncheon and ceremony at Columbia University in New York. AP Photo/Bebeto Matthews Because Trump and his lawyers had explicitly demanded that the Pulitzers rescind the prize — and made a series of specific complaints in a series of letters — the board decided to commission a reexamination of the articles. Advertisement "Even though we believed that we had already looked at it, we thought we should do our diligence and reexamine the question because it was coming from him," Daniszewski said. The board members said that the people who conducted the two independent reviews of the Times' and Posts' Pulitzer submissions did not live in Florida, nor did they have an affiliation with the Times or Post. Collins said she recused herself from the 2018 deliberations for the national reporting prize because the Times was in contention, and had been recused from the subsequent discussions about independent investigations. "You get up, you sit in the hallway for a very long time, but that's what I did basically," Collins recalled in her deposition, recounting the 2018 board meeting where they deliberated the awards. "At some point, somebody opens the door and says come on back in, we've awarded the prize to 'X,' and then you come back and the next series comes up," she later added. Advertisement Trump's other lawsuits over 'Russiagate' have failed Trump filed an updated version of the suit in December 2023, further arguing he was subsequently vindicated by Justice Department Special Counsel John Durham, who investigated the roots of the FBI's investigations into the 2016 Trump campaign's links to Russia. Lawyers for the Pulitzer board members asked the judge to dismiss the case, noting that a different judge dismissed a separate "Russian collusion hoax" suit Trump filed against Hillary Clinton and James Comey and issued nearly $1 million in sanctions against the former president's lawyers in that case. "It is a petty effort by one of the most powerful men in the world to silence speech he dislikes, filed in a county where neither he nor any of the defendants lives or works or has any meaningful connections whatsoever," they wrote. The lawyers filed a separate motion for Brown, arguing the judge should dismiss the suit because the awards were simply not defamatory. Advertisement Bird didn't respond to multiple requests for comment. Chad Bowman, a Ballard Spahr attorney representing the Pulitzer board members, directed Business Insider to court filings. Republican presidential candidate former President Donald Trump arrives at a Super Tuesday election night party at Mar-a-Lago in Palm Beach, Florida. AP Photo/Evan Vucci Trump has also previously filed separate lawsuits against the Times and Post in the United States over opinion articles about his 2016 campaign's ties to Russia, as well as a UK lawsuit against Christopher Steele, who wrote a dossier he falsely claimed formed the basis of Mueller's inquiry. All of those lawsuits have been dismissed by judges as meritless. Bird also demonstrated familiarity with the vast universe of media criticism about press coverage of the so-called "Russiagate" scandal. He asked about former Times journalist Jeff Gerth's four-part examination in the Columbia Journalism Review of the coverage, which argued that the media organizations misused anonymous sources and withheld information in ways that misled readers. Daniszewski said he was familiar with the critique, and that Gerth was not one of the prize reviewers. The depositions sometimes touched on other subjects, such as the perennial debate of whether aspiring journalists should go to graduate school. While some of the four journalists obtained master's degrees, none went to graduate school for journalism. Advertisement "I will say as an aside, it is remarkable the — I guess the achievement of several people that we've deposed that have not gone to J-school have found themselves on the board is interesting to me," Bird mused in one deposition. The journalists also had a chance to reflect on the experience of being deposed. "I appreciate your time," Bird told Boo at the end of her deposition. "You've now had your first deposition, I hope you look upon it fondly." "Hopefully it's my last," Boo said. Advertisement Disclosure: Ballard Spahr represents a coalition of over 30 media organizations, which includes Business Insider, in media access litigation in Donald Trump's criminal cases in Florida and Washington, DC.

U.S. food drops over Gaza are criticized as too little and ineffective 2024-03-07 21:17:00+00:00 - ABOARD C-130 CARGO PLANE OVER GAZA — The scale of the destruction in the northern Gaza Strip is clear from the sky — the streets looked deserted and most buildings have been reduced to rubble. An NBC News crew aboard a Jordanian Royal Air Force C-130 Hercules dropping ready-to-eat meals was given a rare look at the enclave where hundreds of thousands are "one step away from famine," according to the United Nations and other aid agencies. As the plane came into range of the target, a back door opened and parachutes quickly deployed and a stream of boxes drifted gently down to earth. For more on this story, watch “NBC Nightly News with Lester Holt” tonight at 6:30 ET/5:30 CT. Sixteen pallets with 52,700 meals were dropped Thursday as part of a joint Jordanian-United States operation that comes as President Joe Biden faces growing political pressure at home and abroad to do more to help the Palestinians. The aid drops, which come even as the U.S. continues to supply Israel with military hardware, have been criticized as inefficient by some international aid organizations, and as far too little to make a dent in the ocean of suffering after five months of war. “I see it as a drop in the bucket,” said Zomi Frankcom, a senior manager at World Central Kitchen, a Washington-based charity founded by star chef José Andrés. Speaking to NBC News on the tarmac of the King Abdullah II Airbase in the Jordanian city, Zarqa, Frankcom also acknowledged the limitations of delivering food aid by air. But she added, “This is all going toward providing meals in Gaza, so if that’s happening, then that’s a fantastic thing, no matter what the format is.” Later on Thursday, in his State of the Union address, Biden will announce that the U.S. military will help establish a temporary port on the Gaza coast, increasing the flow of humanitarian aid for the beleaguered territory, according to senior administration officials. Thursday’s drop was the third involving the U.S. Air Force. The first, on Saturday, came two days after more than 100 Palestinians were killed and more than 750 injured trying to access aid in northern Gaza, according to Gaza’s Health Ministry, which accused Israel of opening fire on the crowd. Israel has said that it fired only when its troops felt threatened and that most of the civilian casualties were trampled to death. The U.S. and many of its international partners had already been pushing Israel to speed up the flow of humanitarian assistance into Gaza, and to open a third crossing into the territory, where the United Nations, the World Health Organization, the World Food Program and many other aid organizations have warned that famine is imminent. Aid groups and humanitarian organizations have also questioned the strategy of dropping aid in from the air. The drops are “completely ineffective” because “you don’t really know where they’re going to land,” said Melanie Ward, CEO of the U.K.-based charity Medical Aid for Palestinians. Parachutes carrying aid drift to the ground in Gaza Thursday. Jack Guez / AFP - Getty Images “Gaza is a live war zone, and so there is unexploded ordnance in places, there are lots of destroyed buildings,” she said. “People are so desperate that they will then put themselves in really dangerous situations to try to get to the food.” Ward added that, once the drops are in the air, crowds run to where they are going to land and then fight to get hold of them. “Now, if you think about who the most vulnerable people are in a situation where there is mass starvation, they are not able to take part in a scrum to try and get hold of aid, so it’s not going to reach them,” she said. One of the charity's Gaza-based workers also said that the contents of the food drops were also largely unsuitable. “They only contain food parcels that are enough for two or three people, for less than two or three days,” Mahmoud Shalabi, a senior program manager for Medical Aid for Palestinians, told the charity Tuesday in a voice note from Beit Lahia, in northern Gaza. “Some of them contain meals that need microwaving, and we don’t even have electricity right now,” he said. “Everybody I know in Gaza Strip has lost weight,” he said. “There is nothing left in the markets” and “the streets are empty because there are no stalls, there is no food to sell.” Others have suggested that it could fall into the hands of Hamas and the U.S. could inadvertently wind up aiding the militant group. Asked about this Friday, White House national security spokesman John Kirby told reporters that the U.S. would learn over the course of the aerial operation. “There’s few military operations that are more complicated than humanitarian assistance airdrops,” he said, adding that Pentagon planners, in identifying drop locations, would aim to balance getting the aid closest to where it’s needed with keeping those on the ground out of harm’s way from the drops themselves. Richard Engel and Gabe Joselow reported from above the Gaza Strip, and Henry Austin from London.

West Virginia could become the 12th state to ban smoking in cars with kids present 2024-03-07 21:15:05+00:00 - CHARLESTON, W.Va. (AP) — West Virginia, which has the highest rate of adult cigarette use in the nation, could become the 12th state to ban smoking in vehicles with children present under a bill that won final legislative passage Thursday. The Republican-dominated House of Delegates passed the bill on a 66-33 vote without debate. It now goes to Republican Gov. Jim Justice, who has not indicated whether he would sign the bill. The GOP-supermajority Senate approved the bill last month. Violators could be fined up to $25, but only if they’re pulled over for another offense. Smoking with children present cannot be the main reason a driver is stopped. The legislation narrowly made it through the House finance committee earlier in the week after Republican Del. John Hardy called it “just another big government bill.” “The next step is your home. The next step may be your business. Where are we moving this to?” Hardy said. “This is the most un-Republican bill that I’ve ever seen in my life.” About 22% of West Virginia smoked in 2021, the latest year available, according to the Centers for Disease Control and Prevention. The CDC says there is no safe level of exposure to secondhand smoke. Republican Del. Dana Ferrell said sometimes the government has to intervene for the safety and well-being of children. When he and his siblings were younger, Ferrell’s parents smoked in the car. He recalled the kids trying to hide in the back seat near the floor in an attempt to shield their faces. “It may seem trite to some, but I’ve been there. I’ve experienced that,” Ferrell said. “It’s a horrible situation I wouldn’t wish on any other child.” The bill originated in the Senate, where the majority leader, Tom Takubo, is a lung doctor. Takubo has said he made a promise long ago to a patient whose father was a heavy smoker that he would try to get such legislation passed. Takubo has made it almost an annual effort since 2017 to introduce the legislation. ___ Associated Press writer Leah Willingham contributed to this report.

Meet Sen. Katie Britt: The 42-year-old Alabama Republican giving the GOP response to Biden's State of the Union 2024-03-07 21:14:47+00:00 - Sen. Katie Britt will deliver the GOP's official response to the 2023 State of the Union. Britt is expected to lean into the generational contrast she has with Joe Biden. At just 42, Britt is viewed as a rising star in Republican politics. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Alabama Sen. Katie Britt, the youngest Republican woman to ever be elected to the US Senate, will give the GOP's official response to President Joe Biden's State of the Union on Thursday night. Britt, who turned 42 a little over a month ago, is just barely into her first term in the chamber. Her appearance will only further her status as a rising star in the party. She is expected to lean into the generational contrast she has with the president, a theme she also used successfully during 2022 Senate campaign. While delivering the State of the Union response is considered a thankless task, then-Gov. Nikki Haley, Sen. Marco Rubio, and Sen. Rand Paul all delivered their respective responses before later running for the Republican presidential nomination. Then-Rep. Paul Ryan delivered the GOP's 2011 response and less than two years later was tapped to be then-former Massachusetts Gov. Mitt Romney's running mate. Arkansas Gov. Sarah Huckabee Sanders, who was Trump's second White House press secretary, delivered the 2023 response and is now receiving some speculation that she might join Trump on the ticket this November. There are potential pitfalls with the assignment. Unlike the president, most responses are not delivered in front of live crowds that can interrupt a speech for rousing applause. Responses are also far shorter than the lengthy State of the Union addresses. Advertisement Rubio and then-Rep. Rep. Joseph Kennedy III found out the hard way that a speaker can go viral for just about anything other than what they actually say. Here's a look at Britt's rapid rise and what she may touch on Thursday night.

Jamf announces same-day support for visionOS 1.1 - Jamf Holding (NASDAQ:JAMF) 2024-03-07 21:11:00+00:00 - Loading... Loading... MINNEAPOLIS, March 07, 2024 (GLOBE NEWSWIRE) -- Jamf JAMF, the standard in managing and securing Apple at work, today announced its same-day support for Apple Vision Pro's visionOS 1.1 release, which became generally available today. Jamf's same-day support for visionOS 1.1 comes shortly after its support for iOS 17.4 which introduced significant changes necessitated by the Digital Markets Act (DMA), which went into effect on March 5. Same-day support to help organizations re-imagine how work gets done Today's release of visionOS 1.1 introduces mobile device management (MDM) support, making Apple Vision Pro enterprise-ready with the key foundations for deploying and leveraging the device at scale. In lock-step with Apple, Jamf is supporting Apple Vision Pro today, enabling device management and secure access to company resources while protecting the device from threats. This follows Jamf's recently announced support for Apple Vision Pro within its Jamf Protect and Jamf Connect products. Now management for this powerful new endpoint is available in Jamf Pro , allowing Apple Vision Pro users within an organization to achieve Trusted Access , where only authorized users on enrolled and safe devices can access company data. Learn more here or register for the upcoming webinar here . "Jamf has a long history of offering same day support for Apple OS releases, and visionOS 1.1 is no exception," said Henry Patel, Chief Strategy Officer at Jamf. "We're excited to continue working with our customers as they explore the possibilities of Apple Vision Pro at work, with the confidence that their data is protected and secured by the full Jamf platform, from day one." Same-day support for sweeping regulatory requirements The changes Apple introduced in iOS 17.4 in order to enable it to comply with the Digital Markets Act mean users in European countries can now gain access to alternative app marketplaces and apps procured outside of the official Apple App Store on iOS. Jamf has always been in the business of helping its customers seamlessly manage and secure their Apple technology and it continues that trend with the changes introduced in iOS 17.4. With Jamf Pro, customers can manage these changes with a new restrictions-based configuration profile which gives customers the option to restrict the installation and use of third-party apps and app marketplaces. Learn more here . About Jamf Jamf's purpose is to simplify work by helping organizations manage and secure an Apple experience that end users love and organizations trust. Jamf is the only company in the world that provides a complete management and security solution for an Apple-first environment that is enterprise secure, consumer simple and protects personal privacy. To learn more, visit www.jamf.com . Loading... Loading... Media Contact: Liarna La Porta | media@jamf.com Investor Contact: Jennifer Gaumond | ir@jamf.com

5 things you can do to lower your ER bill — or avoid one in the first place 2024-03-07 21:10:55+00:00 - Plenty of people in the US have faced unaffordable ER bills. Fortunately, patients have leverage when negotiating with hospitals. Business Insider spoke with three experts who shared tips on how you can lower your bill or avoid one. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Huge ER bills seem to be a defining feature of the US healthcare system. No one's immune. Even former US Surgeon General Dr. Jerome Adams, who's well aware of the high costs of the US healthcare system, was surprised by a nearly $5,000 ER bill earlier this year. These big bills contribute to the enormous amount of medical debt Americans shoulder. Nonprofit health policy organization KFF estimated that people in the US owed at least $220 billion in medical debt in 2021. The good news is there are things you can do to fight a big bill. Deb Gordon, co-director of the Alliance of Professional Health Advocates and cofounder of Umbra Health Advocacy, said patients have leverage when negotiating with a hospital since so many bills go uncollected. Advertisement "The hospital would rather have you pay something than nothing," she said. Business Insider spoke with Gordon and two additional experts who shared tips for how patients can lower a big medical bill — or avoid one altogether. Review your bill for possible errors It sounds obvious, but searching your bill for inaccuracies can lead to big savings. Mistakes are common, according to Gordon and AnnMarie McIlwain, CEO of Patient Advocators. Look for discrepancies like tests you didn't receive, provider names you don't recognize, and incorrect dates of service. Advertisement "Make sure that medically what happened is aligned with what you were charged with," McIlwain said, adding that in her experience about a quarter of the time a bill contains a mistake. If you spot a potential error or don't understand why you were billed a certain amount, start asking questions of the healthcare facility's billing department. "Sometimes just asking the question will shake loose a discount," Gordon said. Know your insurance policy Read your health insurance policy to know what's covered and how much you're responsible for paying. Try to match your policy to the bill you got, Gordon said. Advertisement "You may actually need to be the one who crosswalks between what your coverage is and what they billed. You can't assume that that happened correctly," she said. Furthermore, there may be benefits you didn't know were covered in your policy. "There's gold in there," McIlwain said. Use a benchmark to negotiate Find out if the charges you were billed were reasonable compared with a benchmark. If they aren't, use the benchmark to negotiate your bill. McIlwain suggested using a resource like Healthcare Blue Book to look up average fees for a particular service in a patient's location. Advertisement Dr. Virgie Bright Ellington, author of Crush Medical Debt, recommended using an AI search tool like ChatGPT to look up what Medicare pays on average for a certain service based on the service's unique medical code, called a CPT code. (You could also Google for this information, though it might take longer, she said.) Medicare pays lower rates than private health insurers. Take that Medicare rate and tell the hospital's billing department that it's what you're willing and able to pay under an interest-free payment plan within your budget, she said. "It's more profitable for them for you to pay something, and they're still able to make a profit at Medicare rates," Ellington said. Prevent a bigger bill by questioning all those tests Doctors might order a bunch of costly medical tests, but you may not need them all, McIlwain said. Advertisement A 2015 survey published in Academic Emergency Medicine found that 85% of doctors who responded said they believed too many diagnostic tests were ordered in their emergency departments. Almost all of them said at least some imaging studies they ordered were unnecessary. All those tests add to the bill. McIlwain said patients can avoid unnecessary tests by participating in the doctor's care decisions. Ask: "Can we discuss what the options look like so I can make a smart decision for myself?" she said. It's tough to think clearly when you're in pain or afraid. Gordon suggested bringing a friend or family member to the hospital who can be level-headed and ask hard questions for you. "Sometimes all it takes is someone asking the questions to give the provider pause and reason to consider what they're doing, explain it and make sure you're on board with it," Gordon said. Advertisement Be smart about where and when to get care There are a few other things you can do to avoid a big medical bill. If it's not a true life-and-death emergency, shop around for care. Urgent care centers are cheaper than emergency departments. For planned services, hospitals tend to offer price estimator tools you can use to get an idea of what a visit or procedure could cost. Be sure to visit a doctor in your health insurer's network, as going out of network can lead to higher costs. The No Surprises Act, which went into effect in 2022, protects US patients from surprise out-of-network medical bills for most emergency services, and when patients inadvertently see an out-of-provider at an in-network facility. McIlwain also said patients should try to get the healthcare procedures they know they need in one calendar year to maximize insurance benefits. Advertisement McIlwain, for example, said she recently was cycling in and out of the ER because of a heart condition. A cardiologist in September recommended an ablation — treatment for an irregular heartbeat. McIlwain insisted the procedure be done by the end of the year, as she had met her insurance policy's out-of-pocket maximum, the most a person can be required to pay for covered health services in a year. Had she waited until the new year, when her insurance policy's limits reset, she'd have to pay thousands for the procedure. "We really have to become more sophisticated about the complexity of our healthcare system, so it doesn't tank us financially," she said. "It's complex, but we can be smarter about the boundaries and optimize our use of it."

Rivian's R2 SUV was just revealed — take a look inside the open and spacious EV 2024-03-07 21:05:52+00:00 - You can camp inside your R2 SUV. The electric SUV's interior is open and airy. There's storage space everywhere, including two gloveboxes. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Rivian's new R2 SUV is smaller and more affordable than its other models but still packed with the goodies we have come to expect from the outdoorsy EV brand. While the R2 is smaller than the R1S, Rivian CEO RJ Scaringe said Thursday the interior was designed to feel just as open and airy. Two quarter-windows in the rear of the vehicle pop open to allow for better interior airflow, while the back window rolls down all the way to accommodate longer cargo. Take a closer look inside the R2 SUV: Rivian is taking $100 preorders for the vehicle, and is expected to start deliveries in early 2026.

How Kyrsten Sinema's retirement helps Biden's presidential campaign 2024-03-07 21:03:17+00:00 - Kyrsten Sinema’s announcement that she will not seek re-election in November’s Arizona U.S. Senate race means U.S. Rep. Ruben Gallego, a Democrat who would be the state’s first Latino senator, may be President Joe Biden’s best hope for a repeat victory in Arizona over former President Donald Trump. Sinema, who was elected as a Democrat in 2018, declared herself an independent at the end of 2022. Her announcement Tuesday that she won’t be seeking re-election turns what was a three-way race between her, Gallego and Republican Kari Lake into a head-to-head between the Democrat and the Republican. November’s showdown between a working-class Latino Democrat and an election-denying MAGA candidate who blames an “invasion” of migrants for America’s problems may prove to be important not just for control of the Senate but also for control of the White House. November’s showdown between a working-class Latino Democrat and an election-denying MAGA candidate may prove to be important not just for control of the Senate but also for control of the White House. Though polls show Biden trailing Trump in Arizona by an average of 5.5 points, a poll conducted just before Sinema’s announcement showed Gallego leading Lake by 7 points. Biden’s success in Arizona may depend on his grabbing Gallego’s coattails. “I’ve been talking to my community, building that trust with them, and fighting for them for more than a decade,” Gallego said by telephone Wednesday, acknowledging the high-stakes pressure his campaign is facing. “Will that benefit President Biden? I think it’s going to benefit President Biden. It’s going to benefit all Democrats.” Latinos played a major role in Biden’s victory in 2020 when he defeated then-President Trump by fewer than 11,000 votes. They again played a major role in 2022 when Democrat Katie Hobbs defeated Lake in that year’s gubernatorial race and Sen. Mark Kelly, a Democrat, won re-election in a race against Republican Blake Masters. Expect them to play a major role in a race where Gallego will be looking to make history as the state’s first Latino senator. Obviously, Biden needs Gallego in November, and, given a New York Times/Siena College poll that shows him trailing Trump nationally among Latino voters, his campaign also needs Gallego’s message about why Democrats have to do better to maintain their traditional hold on this electorate. (An important caveat here is that, according to the Times, only “3 percent of interviews among self-reported Hispanics were conducted in Spanish.”) Gallego and his campaign officials have often argued that Democrats have long ignored the Latino working class and essentially ceded such voters to Republicans. Democrats might not want to hear that criticism, but it’s the message they need to hear to win. It’s a message Gallego insists will lead to more Democratic victories in a state where close to 20% of eligible voters are Latino. “I actually understand where the true Latino is in Arizona. Not influenced by an East Coast-West Coast bias that comes from the pundits,” Gallego said. “It comes from liberals sometimes, too. It also comes from conservatives.” He made a similar point in a tweet in December 2021: “It will not lose you an election but if your staff and consultants use Latinx in your mass communication it likely means they don’t understand the Latino community and is indicative of deeper problems.” Gallego, a Marine who fought in Iraq, started his political career as a state representative during the days of Arizona’s infamous SB 1070 immigration bill, a hard-line “show me your papers” law that the Supreme Court partially struck down in 2012. Those opposed to that law led a new wave of political change, particularly with Latinos. It’s why many who voted for Biden before are expressing frustration now about his more conservative immigration stances. As one Arizona voter told The Washington Post last month, “I don’t like that Biden caved in to the Republican Party.” At the same time, though, Trump stokes fears of “languages coming into our country” and immigrants “poisoning the blood of our country.” “Latinos in Arizona swung against Republicans because Republicans were being extreme, and they are going to do it again because Republicans are misreading the Latino population,” Gallego told me. He said Latinos want “moderation when it comes to immigration and the border. They want border security, and they want immigration reform.” Latinos in Arizona swung against Republicans because Republicans were being extreme, and they are going to do it again because Republicans are misreading the Latino population. RUBEN GALLEGO Biden’s gamble on supporting an immigration bill designed to appeal to conservatives could still lose him Latino support, but Gallego says Arizona Latinos tend to be more conservative on immigration. Although not an Arizona-specific poll, a new report from Pew released this week would confirm that. According to Pew, 75% of U.S. Latinos see the border as a “crisis” or “a major problem,” with 74% saying that the government is not doing a good job. Gallup has listed immigration as the country’s top problem. In a state like Arizona, Republicans will work to exploit that. Democrats must find a way to counter or risk losing. That’s why Biden needs Gallego, a Senate candidate who can speak to Arizona Latinos. “We can’t discount the value of someone being able to talk to them in their languages, both in Spanish and their cultural language,” Gallego said. “There hasn’t been a working-class Latino who has worked hard to understand them in quite a while.” “Latinos are not extremists. Latinos want solutions like anybody else,” he added. In 2020, while proclaiming Biden’s surprise victory, Gallego posted the following tweet: “The children of SB 1070 ten years later grew to change Arizona. You tried to bury us, you didn’t know we were seeds and we would grow to fight for Arizona.” Those seeds have continued to grow, and Biden should pray that the continued blooming of Latino involvement in Arizona politics will lead not only to Gallego’s victory but to his as well.

Lumos Pharma Reports Full Year 2023 Financial Results and Provides Clinical Development Update - Lumos Pharma (NASDAQ:LUMO) 2024-03-07 20:57:00+00:00 - Loading... Loading... End of Phase 2 Meeting to Occur in Q2 2024, Initiation of LUM-201 Phase 3 Trial Expected in Q4 2024 Previously Announced Topline Data from Phase 2 OraGrowtH210 and OraGrowtH212 Trials of LUM-201 in Moderate PGHD Met All Primary and Secondary Endpoints Pisit "Duke" Pitukcheewanont, MD, Appointed Chief Medical Officer Conference Call Today at 4:30 PM EST AUSTIN, Texas, March 07, 2024 (GLOBE NEWSWIRE) -- Lumos Pharma, Inc. LUMO, a late-stage biopharmaceutical company advancing an oral therapeutic candidate for moderate Pediatric Growth Hormone Deficiency (PGHD), today announced financial results for the year ended December 31, 2023 and provided an update on clinical and regulatory activity. "The past year was a highly successful one for Lumos, culminating in the announcement of topline results from our Phase 2 OraGrowtH210 and OraGrowtH212 trials, which met all of their primary endpoints and provided substantial support for the advancement of LUM-201 toward a registrational Phase 3 trial in moderate PGHD," said Rick Hawkins, Chairman and CEO of Lumos Pharma. "We expect to present full twelve-month and longer-term data in a subset of patients from these trials at a medical meeting in the second quarter of this year. Next steps for this program are also on track, with our End-of-Phase 2 Meeting with the FDA scheduled for next quarter, and preparation for our Phase 3 pivotal trial of LUM-201 well underway. We expect to be in position to initiate this registrational trial in the fourth quarter, pending positive feedback from the FDA. As evidenced by the Key Opinion Leader event we held last December, there is broad support among the pediatric endocrinology community for our novel approach to treating growth hormone disorders, and we remain confident in this asset's potential to become the first oral therapeutic for the treatment of PGHD." Upcoming Milestones Full 12-month data from OraGrowtH210 Trial to be presented in Q2 2024 at major medical meeting End of Phase 2 Meeting to occur in Q2 2024 Company expects to initiate Phase 3 pivotal trial of LUM-201 in Q4 2024 Recent Highlights Topline Data from Phase 2 OraGrowtH210 and OraGrowtH212 Trials of LUM-201 in PGHD Met All Primary and Secondary Endpoints OraGrowtH210 results showed LUM-201 dose of 1.6 mg/kg achieved annualized height velocities (AHV) of 8.2 cm/yr at 6 months and 8.0 cm/yr at 12 months, similar to growth rates for moderate PGHD population Delta at 6 and 12-month AHV between optimal LUM-201 dose of 1.6 mg/kg and rhGH comparator arm was within the non-inferiority margin (< 2 cm/yr) suggested by FDA for recent approvals Initial 24-month LUM-201 data from combined OraGrowtH210 and OraGrowtH212 Trials demonstrated a sustained AHV effect from Year 1 to Year 2 OraGrowtH212 demonstrated that, with only 20% of the GH concentration of injectable rhGH, LUM-201 achieved similar AHV, illustrating the greater efficiency of LUM-201's unique pulsatile mechanism of action OraGrowtH210 Trial met pre-specified primary endpoint of validation of Predictive Enrichment Marker (PEM) test and secondary endpoint demonstrating 100% reproducibility of PEM-Positive classification No safety signal to date for LUM-201 Pisit "Duke" Pitukcheewanont, MD Appointed Chief Medical Officer Dr. Duke as he is known was promoted to the position of CMO effective January 1, 2024. In this role, Dr. Duke will provide his leadership in Lumos Pharma's efforts to hone its clinical and regulatory strategy and will continue to oversee medical affairs as the Company prepares to initiate a pivotal Phase 3 trial evaluating oral LUM-201 as a therapeutic for moderate PGHD. Financial Results for the Year Ended December 31, 2023 Cash Position – Lumos Pharma ended the year on December 31, 2023, with cash, cash equivalents, and short-term investments totaling $36.1 million compared to $67.4 million on December 31, 2022. Cash on hand as of December 31, 2023, is expected to support operations through the third quarter of 2024. Lumos Pharma ended the year on December 31, 2023, with cash, cash equivalents, and short-term investments totaling $36.1 million compared to $67.4 million on December 31, 2022. Cash on hand as of December 31, 2023, is expected to support operations through the third quarter of 2024. R&D Expenses – Research and development expenses were $22.1 million, an increase of $4.2 million for the year ended December 31, 2023, compared to the same period in 2022, primarily due to increases of $3.3 million in clinical trial expenses, $0.9 million in contract manufacturing expenses, $0.2 million in consulting expenses and $0.2 million in other expenses, partially offset by a $0.4 million decrease in personnel-related expenses. Research and development expenses were $22.1 million, an increase of $4.2 million for the year ended December 31, 2023, compared to the same period in 2022, primarily due to increases of $3.3 million in clinical trial expenses, $0.9 million in contract manufacturing expenses, $0.2 million in consulting expenses and $0.2 million in other expenses, partially offset by a $0.4 million decrease in personnel-related expenses. G&A Expenses – General and administrative expenses were $16.6 million, an increase of $0.9 million for the year ended December 31, 2023, compared to the same period in 2022, primarily due to increases of $0.5 million in personnel-related expenses, $0.4 million in royalty expenses and $0.1 million in travel expenses, partially offset by a $0.1 million decrease in other expenses. General and administrative expenses were $16.6 million, an increase of $0.9 million for the year ended December 31, 2023, compared to the same period in 2022, primarily due to increases of $0.5 million in personnel-related expenses, $0.4 million in royalty expenses and $0.1 million in travel expenses, partially offset by a $0.1 million decrease in other expenses. Net Loss – The net loss for the year ended December 31, 2023, was $34.0 million compared to a net loss of $31.1 million for the same period in 2022. The net loss for the year ended December 31, 2023, was $34.0 million compared to a net loss of $31.1 million for the same period in 2022. Lumos Pharma ended Q4 2023 with 8,102,555 shares outstanding. Loading... Loading... Conference Call and Webcast Details The Company has scheduled a conference call and webcast for 4:30 p.m. ET today to discuss its financial results and to give an update on clinical programs. There will also be a question-and-answer session following management's prepared remarks. Investors and the general public are invited to listen to the conference call. To access the call by phone, please click on this Registration Link, complete the form and you will be provided with dial-in details and a PIN. To avoid delays, we encourage participants to dial in to the conference call ten minutes ahead of the scheduled start time. The webcast may be accessed through this Webcast Link and may also be found in the "Investors & Media" section of the Lumos Pharma website, under "Events & Presentations." A replay of the call will be available after the date of the call and may be accessed through the same link above or found on our website. About Lumos Pharma Lumos Pharma, Inc. is a clinical stage biopharmaceutical company focused on the development and commercialization of therapeutics for rare diseases. The Company was founded and is led by a management team with longstanding experience in rare disease drug development. Lumos Pharma's lead therapeutic candidate, LUM-201, is a novel, oral growth hormone (GH) secretagogue, seeking to transform the ~$3.4B global GH market from injectable to oral therapy. LUM-201 is currently being evaluated in multiple Phase 2 clinical studies in Pediatric Growth Hormone Deficiency (PGHD) and has received Orphan Drug Designation in both the US and EU. For more information, please visit https://lumos-pharma.com/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements of Lumos Pharma, Inc. that involve substantial risks and uncertainties. All such statements contained in this press release are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. A law that, in part, gives us the opportunity to share our outlook for the future without fear of litigation if it turns out our predictions were not correct. We are passionate about our business - including LUM-201 and the potential it may have to help patients in the clinic. This passion feeds our optimism that our efforts will be successful and bring about meaningful change for patients. Please keep in mind that actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. We have attempted to identify forward-looking statements by using words such as "projected," "upcoming," "will," "would," "plan," "intend," "anticipate," "approximate," "expect," "potential," "imminent," and similar references to future periods or the negative of these terms. Not all forward-looking statements contain these identifying words. Examples of forward-looking statements include, among others, statements we make regarding the advancement of oral LUM-201 to Phase 3, the expected timing of trial data presentations and FDA meetings, substantial support for the advancement of LUM-201 toward a registrational Phase 3 trial in moderate PGHD, that we expect to present full twelve-month and longer-term data in a subset of patients from these trials at a medical meeting in the second quarter of this year, that next steps for this program are on track, that we expect to be in position to initiate this registrational trial in the fourth quarter, that there is broad support among the pediatric endocrinology community for our novel approach to treating growth hormone disorders, that we remain confident in this asset's potential to become the first oral therapeutic for the treatment of PGHD, that cash on hand as of December 31, 2023 is expected to support operations through the third quarter of 2024, and any other statements other than statements of historical fact. We wish we were able to predict the future with 100% accuracy, but that just is not possible. Our forward-looking statements are neither historical facts nor assurances of future performance. You should not rely on any of these forward-looking statements and, to help you make your own risk determinations, we have provided an extensive discussion of risks that could cause actual results to differ materially from our forward-looking statements including risks related to the continued analysis of data from our LUM-201 Trials, the timing and outcome of our future interactions with regulatory authorities including our end of Phase 2 meeting with the FDA, the timing and ability of Lumos to raise additional equity capital as needed to fund our Phase 3 Trial, our ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the ability to structure our Phase 3 trial in an effective and timely manner, the ability to successfully develop our product candidate, the effects of pandemics, other widespread health problems or military conflicts including the Ukraine-Russia conflict and the Middle East conflict and other risks could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements including information in the "Risk Factors" section and elsewhere in Lumos Pharma's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other reports filed with the SEC including our most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. All of these documents are available on our website. Before making any decisions concerning our stock, you should read and understand those documents. We anticipate that subsequent events and developments will cause our views to change. We may choose to update these forward-looking statements at some point in the future, however, we disclaim any obligation to do so. As a result, you should not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. Investor & Media Contact: Lisa Miller Lumos Pharma Investor Relations 512-792-5454 ir@lumos-pharma.com Lumos Pharma, Inc. Consolidated Statements of Operations and Comprehensive Loss (unaudited) (In thousands, except share and per share amounts) Year Ended December 31, 2023 2022 Revenues: Royalty revenue $ 2,051 $ 1,523 Total revenues 2,051 1,523 Operating expenses: Research and development 22,096 17,857 General and administrative 16,569 15,706 Total operating expenses 38,665 33,563 Loss from operations (36,614 ) (32,040 ) Other income and expense: Other income, net 683 91 Interest income 1,868 874 Other income, net 2,551 965 Net loss before taxes (34,063 ) (31,075 ) Income tax benefit 29 13 Net loss $ (34,034 ) $ (31,062 ) Net loss per share of common stock Basic and diluted $ (4.18 ) $ (3.71 ) Weighted average number of common shares outstanding Basic and diluted 8,145,155 8,373,821 Other comprehensive income (loss): Unrealized loss on short-term investments 9 (9 ) Total comprehensive loss $ (34,025 ) $ (31,071 ) Lumos Pharma, Inc. Consolidated Balance Sheets (unaudited) (In thousands, except share and per share amounts) December 31, 2023 2022 Assets Current assets: Cash and cash equivalents $ 35,078 $ 56,007 Short-term investments 999 11,352 Prepaid expenses and other current assets 3,748 4,427 Other receivables 210 223 Total current assets 40,035 72,009 Non-current assets: Property and equipment, net — 53 Right-of-use asset 603 230 Total assets $ 40,638 $ 72,292 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 890 $ 275 Accrued expenses 5,858 6,200 Current portion of lease liability 282 233 Total current liabilities 7,030 6,708 Long-term liabilities: Royalty obligation payable to Iowa Economic Development Authority 6,000 6,000 Lease liability 303 — Total liabilities 13,333 12,708 Commitments and contingencies: Stockholders' equity: Undesignated preferred stock, $0.01 par value: Authorized shares - 5,000,000 at December 31, 2023 and 2022; issued and outstanding shares - 0 at December 31, 2023 and 2022 — — Common stock, $0.01 par value: Authorized shares - 75,000,000 at December 31, 2023 and 2022; issued shares - 8,125,728 and 8,283,708 at December 31, 2023 and 2022, respectively, and outstanding shares - 8,102,555 and 8,267,968 at December 31, 2023 and 2022, respectively 81 82 Treasury stock, at cost, 23,173 and 15,740 shares held as of December 31, 2023 and 2022, respectively (196 ) (170 ) Additional paid-in capital 188,937 187,164 Accumulated deficit (161,517 ) (127,483 ) Accumulated other comprehensive loss — (9 ) Total stockholders' equity 27,305 59,584 Total liabilities and stockholders' equity $ 40,638 $ 72,292

Wawa Breaks Ground on First Georgia Stores; Shares Details on Expansion During Community Event 26 New Wawa Stores Planned for Southern/Coastal Georgia Markets, with First Locations Opening in Late 202 2024-03-07 20:55:00+00:00 - Loading... Loading... WAWA, Pa., March 07, 2024 (GLOBE NEWSWIRE) -- Wawa, a privately held, family-owned chain of more than 1,040 convenience retail stores currently operating in six states and Washington, D.C., is getting closer to bringing its unique food and beverage offer, store experience and community commitment to Georgia! On March 7, the Company celebrated the official start of construction on its first two Georgia stores located at: US 341 & Community Road, Brunswick, GA 31520 and 356 West Orange Street Jesup, GA 31545. The events officially introduced Wawa to the community, shared expansion plans and welcomed VIP customers, local officials and charity partners. Finally, at the Community Partnership Day events, Wawa announced contributions to its first community partners – the Second Harvest of Coastal Georgia and the USO Georgia with first grant awards totaling more than $10,000 to support local initiatives. View broll of the event here ; and access folder with event photos, videos and media assets here . "It's official – Wawa is coming to Georgia, and we couldn't be more thrilled to share details of our exciting growth plans with our newest soon-to-be neighbors!" said Robert Yeatts, Sr. Director of Store Operations for Wawa. "Our two groundbreaking events gave us the opportunity to meet new faces and share with our new markets a little bit about our history and what makes Wawa such an ideal fit for communities here. We are thrilled to break ground on our first stores and get closer to our first grand openings in 2024." About Wawa's Growth & Expansion in Southern and Coastal Georgia At the groundbreaking events, VIP customers, local officials and community partners received a first look at Wawa's initial plans for the market including opening the Brunswick and Jesup stores in late 2024 and hosting groundbreaking events on May 1 for new stores located in Hinesville and Pooler. Wawa continues to build a pipeline of sites in southern and Coastal Georgia and currently has sites under contract in: Brunswick, Jesup, Hinesville, Pooler, Waycross, Bainbridge, Tifton, Valdosta and Albany. Over the next 5-8 years, Wawa plans to build and open 26 stores in southern and Coastal Georgia, opening 3 to 4 stores per year. To build each store, Wawa will invest approximately $7.0 million and employ, on average, 140 contractors and local partners. Once open, each store will employ an average of 35 associates, with Wawa expecting to create almost 1,000 long-term new jobs as a result of expansion in Georgia. About Career Opportunities: Soar with Wawa! Wawa's expansion plans will create hundreds of new jobs and career opportunities for those interested in soaring with us as we continue to expand in Georgia markets. Joining the Wawa team makes you part of a longstanding tradition of success that spans decades, hundreds of stores, multiple states and counting! It's a chance to become part of a family and associate-owned company committed to putting people first, doing the right thing and making every day a little bit brighter for our communities: one hoagie, smile or experience at a time. Wawa associates have a shared stake in our success and own 39% of the company through an Employee Stock Ownership Plan (ESOP). View career opportunities at Wawa . About Wawa, Inc. Wawa, Inc., a privately held company, began in 1803 as an iron foundry in New Jersey. Toward the end of the 19th Century, owner George Wood took an interest in dairy farming and the family began a small processing plant in Wawa, PA in 1902. The milk business was a huge success, due to its quality, cleanliness and "certified" process. As home delivery of milk declined in the early 1960s, Grahame Wood, George's grandson, opened the first Wawa Food Market in 1964 in Pennsylvania as an outlet for dairy products. Today, Wawa is your all day, every day stop for freshly prepared foods, beverages, coffee, fuel services and surcharge-free ATMs. Wawa stores are located in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida and Washington, D.C. with nearly 1,000 locations to date. The stores offer a large fresh foodservice selection, including Wawa brands such as custom prepared hoagies, freshly- brewed coffee, hot breakfast sandwiches, hand-crafted specialty beverages, a dinner menu including burgers and an assortment of soups, sides and snacks. Forbes.com Ranks Wawa as #20 of America's Largest Private Companies, #1 in Convenience Category for America's Best Customer Service by Newsweek, one of Forbes 2023 America's Best Employers for Women and New College Grads. CONTACT: public.relations@wawa.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/479d4832-4b07-4a9b-9539-69e258642ec1