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Japanese automotive giants Honda and Nissan are in talks to set up a holding company, according to a person with knowledge of the matter, a move that would allow them to share more resources amid competition upending the global industry. The talks, first reported by the Nikkei newspaper, would allow the two carmakers to co-operate more closely on technology at a time when the industry is being rewritten by the likes of Tesla and Chinese rivals. The talks are aimed at setting up an umbrella holding company that Nissan and Honda would then fall under, said the person, who declined to be identified because the information had not been made public. It was not immediately clear whether a new holding company was aimed at eventually establishing a full union between the two companies, though Nikkei said they were beginning merger talks. The two carmakers have increased ties in recent months as they wrestle with the changing EV landscape. As well as heavy competition. Carmakers also face stalling demand in Europe and the US, intensifying the pressures on them. Honda and Nissan on Tuesday issued identical statements saying no merger had been announced by either company. “As announced in March, Honda and Nissan are exploring various possibilities for future collaboration, leveraging each other's strengths,” the companies said in separate statements, adding they will inform stakeholders of any updates at an appropriate time. In addition, French carmaker Renault, a major Nissan shareholder, said it had no information and declined to comment. Over the past year, an EV price war launched by Tesla and Chinese carmaker BYD has only intensified pressure on any companies losing money on the next-generation vehicles. That has put pressure on companies such as Honda and Nissan to seek ways to cut costs and speed vehicle development and mergers are a major step in that direction. Honda's market capitalisation is 5.95-trillion yen (R 701.47bn) while Nissan's is 1.17-trillion yen (R 137.4bn). Any deal would be the biggest in the industry since the $52bn (R 940.12bn) merger between Fiat Chrysler and PSA in 2021 to create Stellantis. “The thought that some of these smaller players can survive and thrive is getting more challenging, especially when you add on the complexity of all the additional Chinese manufacturers who have come in and are competing quite strongly,” said Edmunds analyst Jessica Caldwell. “It's just sort of necessary to survive, not only to survive, but also just to afford the future.” Honda's US-listed shares were up 0.9% in afternoon trading. Honda and Nissan, Japan's second- and third-biggest carmakers, respectively, after Toyota, have been losing market share in China. That nation accounted for almost 70% of global EV sales in November, with more than 1.27-million in purchases for the month. The two had combined global sales of 7.4-million vehicles in 2023, but are grappling with challenges from EV makers, particularly in China, where BYD and others have surged ahead. Global carmakers General Motors and Ford have slowed investments in EVs as high borrowing costs and poor charging infrastructure hinder their adoption despite government incentives. In September, GM said it was in talks with South Korea's Hyundai Motor to explore ways to collaborate in a move to cut costs, including on joint vehicle development. Europe's car sector is in turmoil, with thousands of jobs on the line as carmakers suffer from a weakening market, high costs, a slower-than-expected takeup of EVs and increasing competition from Chinese rivals. Volkswagen has threatened to close plants in Germany for the first time in its 87-year history, cut jobs and slash wages to reduce costs and boost profit. Last week, Europe's top carmaker said it will close its Audi plant in Brussels next year. In Europe, Volkswagen is locked in acrimonious talks with its union over cost cuts as it struggles with falling demand and rising costs. The global car industry is also bracing for a potential rollback of EV-friendly policies by US president-elect Donald Trump, Reuters has reported. Any merger would face significant US scrutiny and Trump has vowed to take a hard line on imported vehicles - including threatening 25% tariffs on vehicles shipped from Canada and Mexico - and he could seek concessions from Honda and Nissan to approve any deal, auto industry officials said. During his first term, Trump threatened tariffs on Japanese vehicles. Honda and Nissan in March agreed to co-operate in their EV businesses and in August deepened their ties, agreeing to work together on batteries, e-axles and other technology. The carmakers are expected to sign a memorandum of understanding soon for the new merged entity, the Nikkei reported. Honda and Nissan are also looking to bring in Mitsubishi Motors, in which Nissan is the top shareholder with a 24% stake, under the holding company, the report said. Mitsubishi officials did not have an immediate comment. Nissan has been reeling from weak demand in China and the US, prompting the Japanese carmaker to cut costs. Last month, the company said its half-year net earnings were down more than 90% from a year ago and cut its annual operating profit forecast by about 70%.
Celebrating the 25th Anniversary and the Expansion of the Ideal Scientology Mission of Bergamo
Nigeria’s proposed tax reform bill, introduced by the Presidential Committee on Fiscal and Tax Reform chaired by Taiwo Oyedele, has stirred widespread debate. The reform bill, which aims to streamline the tax system, includes harmonising multiple levies, unifying revenue collection processes, and integrating technology for greater efficiency. At the centre of the proposal is a plan to adopt the derivation principle for the distribution of Value Added Tax (VAT) revenues. Under this principle, VAT revenue would be distributed based on where goods and services are consumed rather than pooled centrally and redistributed. Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji, explained the rationale by clarifying that VAT is fundamentally a consumption tax. He stated, “On derivation, I see there is a mix-up here. We have the oil and gas. If you look at the oil and gas, where they produce is where we sell and collect money from the oil. That’s why it is limited to their States. “VAT by definition is a consumption tax. If you use derivation in VAT, what it means is that where is it consumed. Where do you make the call? Where is the bank transaction done? What the bill seeks to correct is that the existing structure we have does not represent the intent of Nigeria.” While the reform aims to ensure fairer revenue distribution, it has met strong opposition from northern states. Some Northern stakeholders argue that the contents of the proposed bill are against the interests of the North and other sub-nationals. They claim that switching to a derivation model would unfairly favour economically dominant states, particularly Lagos, where most companies’ headquarters are located. Tribune Online reports that recent data from FIRS highlights the disparity in VAT contributions and allocations. In August 2024, Lagos State alone generated more VAT (N249.77 billion) than the combined total of 35 other states and the Federal Capital Territory (FCT) but only received N40.22 billion in allocation. Meanwhile, ten northern states, which contributed a combined N13.69 billion, received a staggering N59.17 billion in allocations. For instance, Zamfara State contributed N432.80 million but received N5.65 billion, while Katsina generated N1.68 billion and received N7.27 billion. Below is the full list of what some northern states contributed to the VAT pool and what they benefitted (August 2024): Contributed: N432.80m Allocated: N5.65bn Contributed: N665.17m Allocated: N5.66bn Contributed: N691.28m Allocated: N6.48bn Contributed: N1.47bn Allocated: N4.97bn Contributed: N1.59bn Allocated: N6.42bn Contributed: N1.68bn Allocated: N7.27bn Contributed: N1.71bn Allocated: N5.26bn Contributed: N1.73bn Allocated: N6.12bn Contributed: N1.84bn Allocated: N6.07bn Contributed: N1.88bn Allocated: N5.27bn Total contribution: 13.69 billion Total allocation received: 59.17 billion ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE Get real-time news updates from Tribune Online! Follow us on WhatsApp for breaking news, exclusive stories and interviews, and much more. Join our WhatsApp Channel now
Faraday Future Secures $30 Million Financing to Strengthen the Company’s Core Business and Continued Ramp-Up of the Faraday X (FX) StrategyNone
While Black Friday is behind us, some great prices have hung on a little longer. One huge highlight is a continuing discount on my absolute favorite headphones. Today, you can buy the Sony WH-1000XM4 Wireless Headphones at Amazon US for $198 (was $348) with the same headphones at Amazon UK for £175 (was £229) . I’ve used a lot of headphones over the years and none are as good as the Sony WH-1000XM4. I use them every day for listening to music, playing games, or simply enjoying a little quiet via them being some of the best noise-cancelling headphones . The Sony WH-1000XM4 hit a record low price during Black Friday and they’ve continued to stay at that price. While the Sony WH-1000XM5 may be newer, the difference between the two doesn’t justify paying more in my opinion since the performance is so similar. Today’s best Sony headphones deals The Sony WH-1000MX4 do everything well while being incredibly well-priced now. There’s powerful active noise cancellation which blocks out surrounding environmental noises, while audio quality is exceptional. They’re comfy to wear too, being very lightweight. Adaptive sound control, multipoint connectivity, and wear detection all sweeten the deal to make these all-day wear friendly. Similarly cheap in the UK, the Sony WH-1000XM4 are just as good. The ANC helps block out traffic noises, your neighbours’ DIY and so much more. There’s support for Hi-Res audio and DSEE Extreme Technology boosting the quality of everything, while little details like Speak-to-Chat prove useful throughout the day. I loved my Sony WH-1000XM4 and easily appreciated that they are some of the best headphones around. However, I loved them on a whole different level when taking a flight with upset children all around me. The plane may have been loud but I didn’t notice and the level of comfort meant I felt happy wearing them the whole time. As our Sony WH-1000XM4 review explains, they “deliver excellent noise-cancellation and surprising sound quality all in a lightweight, comfortable design”, and there’s not much more you could want from headphones. I think my only minor quibble is that singing along or coughing can pause the music with the Sony WH-1000XM4 meaning well on that front. Other than that, these are easily the best headphones out there and the ones I recommend to anyone who’ll listen. If somehow perfection doesn’t appeal, or you’re looking for something cheaper, there are other headphone deals which -- despite the name -- also include some of the best wireless earbuds if that’s more your jam.A MUM-of five was slapped with a £1,000 fine right before Christmas for making a simple mistake with her bins. Trisha Malone from Birmingham said the eye-watering penalty has ruined the holidays and she even faces a criminal record if she doesn't pay. Trisha, who is a full-time carer for her disabled son, put her rubbish in a neighbour's communal bin. When she was caught out, she explained to Birmingham City Council that her bin was too small for a family of six but didn't want to leave her rubbish lying around. To her dismay, her pleas to be let off were ignored and she claims the council has "no heart". "I can't afford it. I have five children. When I pay my rent, I have nothing left, and the council is saying I have to pay it in full. There's not even an option for installments," she told Birmingham Live. read more on local councils "I'm a full-time carer for my son. He's six and paralysed down the left side of his body. This fine could ruin our Christmas . They have no heart." She's now worried that she might be sent to prison if she fails to pay the fine. " It's not fair, I didn't throw rubbish on the floor, it wasn't actually fly-tipping. Some people throw stuff everywhere, on roundabouts and all sorts. I didn't do that," she added. She said that her own bin isn't big enough for the amount of rubbish that her family produces. Most read in The Sun Trisha has argued that she has told the council that she needs a bigger bin but her requests have been ignored. A Birmingham City Council spokesperson said: "We are not able to offer a comment at this stage while the legal process is ongoing." This comes as South Yorkshire council tightened rules around bin collections. Residents who put the "wrong" rubbish in their bins could be hauled to court and fined up to £2,500 under a new council purge. Town hall snoopers will also be checking on reports about house-holders who leave their bins out on the street after 7pm on collection day. Those who complain their bins were not emptied properly will also face investigation with council bosses in Rotherham, South Yorkshire , using computer records to check the claims. But those who follow the rules will get a special reward stocked, the council equivalent of a Blue Peter Badge, for toeing the line. Eyebrows maybe raised at how complicated the council’s recycling rules already area, for example, greetings cards can be put in bins for paper - but not cards that have glitter.Ratings for CMS Energy CMS were provided by 12 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 6 4 0 0 Last 30D 0 0 1 0 0 1M Ago 1 1 0 0 0 2M Ago 0 4 3 0 0 3M Ago 1 1 0 0 0 In the assessment of 12-month price targets, analysts unveil insights for CMS Energy, presenting an average target of $73.17, a high estimate of $77.00, and a low estimate of $67.00. Marking an increase of 5.36%, the current average surpasses the previous average price target of $69.45. Deciphering Analyst Ratings: An In-Depth Analysis A clear picture of CMS Energy's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Stephen Byrd Morgan Stanley Lowers Equal-Weight $67.00 $69.00 Julien Dumoulin-Smith Jefferies Announces Buy $76.00 - James Thalacker BMO Capital Lowers Outperform $76.00 $77.00 Neil Kalton Wells Fargo Raises Overweight $77.00 $70.00 Nicholas Campanella Barclays Raises Equal-Weight $68.00 $65.00 Anthony Crowdell Mizuho Lowers Neutral $72.00 $76.00 Anthony Crowdell Mizuho Raises Outperform $76.00 $65.00 James Thalacker BMO Capital Raises Outperform $76.00 $69.00 Sophie Karp Keybanc Raises Overweight $76.00 $73.00 Stephen Byrd Morgan Stanley Raises Equal-Weight $68.00 $63.00 Sophie Karp Keybanc Raises Overweight $73.00 $68.00 Julien Dumoulin-Smith B of A Securities Raises Buy $73.00 $69.00 Key Insights: Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to CMS Energy. This offers insight into analysts' perspectives on the current state of the company. Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of CMS Energy compared to the broader market. Price Targets: Delving into movements, analysts provide estimates for the future value of CMS Energy's stock. This analysis reveals shifts in analysts' expectations over time. Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of CMS Energy's market standing. Stay informed and make data-driven decisions with our Ratings Table. Stay up to date on CMS Energy analyst ratings. Unveiling the Story Behind CMS Energy CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy, provides regulated natural gas service to 1.8 million customers and electric service to 1.9 million customers in Michigan. CMS Enterprises is engaged in wholesale power generation, including contracted renewable energy. CMS sold EnerBank in October 2021. Breaking Down CMS Energy's Financial Performance Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale. Revenue Growth: CMS Energy's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 4.18% . This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Utilities sector. Net Margin: CMS Energy's net margin excels beyond industry benchmarks, reaching 14.4% . This signifies efficient cost management and strong financial health. Return on Equity (ROE): CMS Energy's ROE excels beyond industry benchmarks, reaching 3.2% . This signifies robust financial management and efficient use of shareholder equity capital. Return on Assets (ROA): CMS Energy's ROA excels beyond industry benchmarks, reaching 0.73% . This signifies efficient management of assets and strong financial health. Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 2.05 , caution is advised due to increased financial risk. The Significance of Analyst Ratings Explained Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter. Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders. Which Stocks Are Analysts Recommending Now? Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market . This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Class 4A Rank School Total Points 1. Gurnee Warren (5) (4-0) 76 2. Homewood-Flossmoor (2) (4-0) 67 3. Kenwood (2-0) 63 4. Quincy (1) (3-0) 62 5. Bolingbrook (3-1) 55 5. Moline (1) (4-0) 55 7. Marist (5-0) 23 8. St. Ignatius (5-0) 20 (tie) Waubonsie Valley (4-0) 20 10. Lisle (Benet Academy) (3-1) 16 Others receiving votes: 11, Rich Township 12. 12, Lincoln Park 11. 13, Simeon 7. 14, Bradley-Bourbonnais 4. 15, Alton 3. 16, Edwardsville 1. Class 3A Rank School Total Points 1. Chicago Mt. Carmel (2) (4-0) 80 2. DePaul College Prep (5) (3-1) 78 3. Mt. Zion (4-0) 64 4. Peoria (H.S.) (2) (4-0) 61 5. Brother Rice (4-0) 56 6. Kankakee (1-0) 49 7. St. Laurence (2-1) 34 8. Morton (1-3) 17 9. St. Patrick (4-0) 16 10. Metamora (3-2) 10 Others receiving votes: 11, Lake Forest 9. 12, Fenwick 9. 13, Lemont 4. 14, De La Salle 2. 15, Centralia 2. 16, Richwoods 2. 17, Deerfield 1. 18, Marian Catholic (Chicago Heights) 1. Class 2A Rank School Total Points 1. Peoria Manual (8) (3-1) 80 2. Columbia (4-0) 69 3. Benton (2-0) 65 4. Williamsville (1-0) 42 5. Pinckneyville (4-0) 39 6. Bismarck-Henning (5-0) 34 7. Belleville (Althoff Catholic) (3-2) 20 8. Warsaw West Hancock (2-1) 18 9. Chicago (Christ the King) (3-1) 15 10. Chicago Dyett (3-1) 9 Others receiving votes: 11, Rockford Christian 8. 12, Warrensburg-Latham 7. 13, Rockridge 6. 14, Nashville 6. 15, Clark 5. 16, Kankakee (McNamara) 4. 17, Auburn 4. 18, IC Catholic 3. 19, Quincy Notre Dame 2. 20, Teutopolis 2. 21, Elmhurst Timothy Christian 2. Class 1A Rank School Total Points 1. Pecatonica (7) (0-0) 88 2. Hope Academy (2) (2-2) 81 3. Mounds Meridian (3-1) 61 4. Lanark Eastland (1-0) 56 5. Tuscola (2-0) 37 6. Waltonville (3-0) 32 7. Springfield Calvary (1-2) 28 8. Effingham St. Anthony (3-2) 25 9. Yorkville Christian (3-2) 22 10. South Beloit (4-1) 13 Others receiving votes: 11, Calhoun 10. 12, Peoria Christian 9. 13, Aurora Christian 9. 14, Jacksonville Routt 7. 15, Chicago (Fenger) 6. 16, Annawan 5. 17, Goreville 2. 18, Providence-St. Mel 2. 19, Brown County 1. 20, Lexington 1. Class 4A Rank School Total Points 1. Gurnee Warren (5) (4-0) 76 2. Homewood-Flossmoor (2) (4-0) 67 3. Kenwood (2-0) 63 4. Quincy (1) (3-0) 62 5. Bolingbrook (3-1) 55 5. Moline (1) (4-0) 55 7. Marist (5-0) 23 8. St. Ignatius (5-0) 20 (tie) Waubonsie Valley (4-0) 20 10. Lisle (Benet Academy) (3-1) 16 Class 3A Rank School Total Points 1. Chicago Mt. Carmel (2) (4-0) 80 2. DePaul College Prep (5) (3-1) 78 3. Mt. Zion (4-0) 64 4. Peoria (H.S.) (2) (4-0) 61 5. Brother Rice (4-0) 56 6. Kankakee (1-0) 49 7. St. Laurence (2-1) 34 8. Morton (1-3) 17 9. St. Patrick (4-0) 16 10. Metamora (3-2) 10 Class 2A Rank School Total Points 1. Peoria Manual (8) (3-1) 80 2. Columbia (4-0) 69 3. Benton (2-0) 65 4. Williamsville (1-0) 42 5. Pinckneyville (4-0) 39 6. Bismarck-Henning (5-0) 34 7. Belleville (Althoff Catholic) (3-2) 20 8. Warsaw West Hancock (2-1) 18 9. Chicago (Christ the King) (3-1) 15 10. Chicago Dyett (3-1) 9 Class 1A Rank School Total Points 1. Pecatonica (7) (0-0) 88 2. Hope Academy (2) (2-2) 81 3. Mounds Meridian (3-1) 61 4. Lanark Eastland (1-0) 56 5. Tuscola (2-0) 37 6. Waltonville (3-0) 32 7. Springfield Calvary (1-2) 28 8. Effingham St. Anthony (3-2) 25 9. Yorkville Christian (3-2) 22 10. South Beloit (4-1) 13
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