The retail industry has shown signs of improvement in 2024 compared to the previous year, attributed to the rebound in the tourism sector and the government's allocation of its annual budget, according to the Thai Retailers Association (TRA). However, the recovery has been gradual and uneven, depending upon different retail formats and geographical areas. Fashion and lifestyle shops, along with specialty retailers and restaurant chains, experienced growth rates ranging from 3-7%. Stores dealing in construction materials, home decor and maintenance recorded increases of between 2-5%. The lowest growth was seen in convenience stores, supermarkets, hypermarkets and wholesale consumer goods outlets, which recorded increases of just 1-3%. The growth was primarily concentrated in the Bangkok metropolitan area, the eastern region and popular tourist destinations. Despite numerous positive developments, retailers continue to confront challenges, said Nath Vongphanich, president of the association. These challenges include economic growth falling short of government projections, which resulted in over 37% of retailers facing issues concerning excess inventory, a decline in investment which negatively influenced employment and consumption levels, the high level of household debt and intense competition from an influx in cheap imported goods. Moreover, the government's disbursement of a 10,000-baht cash handout to 14.5 million vulnerable individuals has not had a substantial impact in terms of stimulating the economy, while there is a need for further information regarding upcoming assistance for the elderly and other demographics. Furthermore, the severe floods caused losses of 50 to 60 billion baht according to estimates, while there are uncertainties surrounding the global economy and the foreign trade policies of President-elect Donald Trump, which have also affected consumer confidence in spending. For the retail business in 2025, the TRA predicts growth of roughly 3-5% compared with projections for GDP growth of 2.3-3.3% for next year. This anticipated growth is expected to be bolstered by the tourism and export industries, along with investments from both the public and private sectors, both domestically and internationally. The TRA believes that with consistent and robust government support and promotions, the retail sector will significantly contribute to advancing the economy towards its growth targets, with the retail and service market valued at over 4.4 trillion baht. The TRA proposes the government maintain a timely allocation of the 2025 fiscal budget and facilitate the distribution of funds through investments, procurement and stimulus measures to effectively propel the economy forward. The next step is to reinforce retailer competitiveness, bolstering the competitive edge of retailers in Thailand through marketing support for micro-, small and medium-sized enterprises both domestically and internationally, as well as through the provision of low-interest soft loans. As Thailand is entering the high season for shopping, the association proposes the government revive the "Shop Dee Mee Kuen" (shop and payback scheme) to stimulate domestic spending which would help boost the economy towards the year-end. The association also recommended tax incentives to stimulate consumer spending among tourists by implementing a value-added tax exemption for purchases of more than 5,000 baht per person per day at the same retail location. The association proposes the government position Thailand as a premier destination for tourism, healthcare, sports and shopping at both the regional and global scale, while harnessing soft power including Thai food and culture in order to stimulate spending and the country's economy.To impeach or not to impeach
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NEW YORK , Nov. 25, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against TMC the metals company Inc. ("TMC" or the "Company") (NASDAQ: TMC) and certain officers. The class action, filed in the United States District Court for the Central District Of California, and docketed under 24-cv-09684 is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired TMC securities between May 12, 2023 and March 25, 2024 , both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b -5 promulgated thereunder, against the Company and certain of its top officials. If you are a shareholder who purchased or otherwise acquired TMC securities during the Class Period, you have until January 7, 2025 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com . To discuss this action, contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action] TMC is a deep-sea minerals exploration company focused on the collection, processing, and refining of polymetallic nodules. In February 2023, TMC and its wholly owned subsidiary, Nauru Ocean Resources Inc. ("NORI"), entered into a strategic partnership with Low Carbon Royalties Inc. ("LCR") (the "LCR Partnership"). In a press release discussing the terms of the LCR Partnership, TMC stated, in relevant part, that "[t]he Company agreed with LCR to a purchase and sale agreement whereby LCR acquired a 2.0% gross overriding royalty on [TMC's] NORI project area in the Clarion Clipperton Zone of the Pacific Ocean" and, "[i]n consideration . . ., the Company received $5,000,000 cash and an initial 35.0% equity interest in LCR." The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) TMC maintained deficient internal controls over financial reporting; (ii) as a result, the Company inaccurately classified the sale of future revenue attributable to the LCR Partnership as deferred income rather than debt; (iii) the foregoing misclassification, when it became known, would require TMC to restate one or more of its previously issued financial statements; and (iv) as a result, Defendants' public statements were materially false and/or misleading at all relevant times. On March 25 , 2024, TMC disclosed in a filing with the United States Securities and Exchange Commission that the Company's financial statements for the first three quarters of 2023 "should be restated and, accordingly, should no longer be relied upon", citing the "re-evaluat[ion of] whether the offsetting entry to the proceeds it received from LCR should be classified as debt or deferred income." Further, TMC explained that, "[a]s the transaction with LCR was considered an equity investment rather than a sale transaction, the sale of future revenue will be reclassified as Royalty liability" per appropriate accounting standards. On this news, TMC's stock price fell $0.205 per share, or 13.23%, to close at $1.345 per share on March 26, 2024 . Pomerantz LLP, with offices in New York , Chicago , Los Angeles , London , Paris , and Tel Aviv , is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz , known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud , breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com . Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP dpeyton@pomlaw.com 646-581-9980 ext. 7980 View original content to download multimedia: https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-tmc-the-metals-company-inc-of-class-action-lawsuit-and-upcoming-deadlines--tmc-302315716.html SOURCE Pomerantz LLPPaymongo offers QR PH for Lazada platform usersJPMorgan upgrades Mexican equities while cutting Brazilian outlook
Wilmington, Del., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Participating in a tradition that has evolved since 1792, today, employees from Ashland Inc. (NYSE: ASH) gathered on the floor of the New York Stock Exchange as Guillermo Novo, chair and chief executive officer, Ashland, joined by company executives, rang the trading day’s opening bell . The event signifies a decade of evolution, resilience and sustainable solutions for the additives and specialty ingredients company and recognizes its 100-year anniversary. “I want to thank our employees for their dedication, our customers for their trust and our shareholders for their support over the years which continues to be the foundation of our success,” said Guillermo Novo, chair and chief executive officer, Ashland. From its origin of gavel banging to the modern workday bell ringing , the ritual marks the start and end of trading through the years and has come to celebrate economic growth and progress. One year ago, Ashland introduced seven new technology platforms aligned to the company’s pharmaceutical, personal care and specialty additives core, that extend to secondary markets with new and differentiated capabilities to unlock organic growth for Ashland and its customers worldwide. The platform solutions bring “new to the world” sustainable innovations, offering tunable choices to customers to enable the reshaping of their product portfolios, answering global megatrends, and responding to various regulatory landscapes. “As the stock market has demonstrated resilience through devastating lows and exuberant highs over time, Ashland has consistently transformed itself ahead of market trends from an oil and refining company to a matrixed chemical company, and from a broad chemicals and materials provider to the focused additives and specialty ingredients company we are today; integrating environmental, social and governance (ESG) in our operating plans to responsibly solve for a better world,” said Novo. strategy update event Ashland is hosting a strategy update event for analysts and investors on December 10, 2024, in New York City. The company will provide an in-depth review of Ashland’s strategic priorities, key initiatives and financial objectives while emphasizing a proactive approach to market uncertainty in fiscal year 2025. The event includes presentations and prepared remarks from members of Ashland’s executive team, as well as breakout sessions for in-person attendees and an opportunity for both live and webcast attendees to ask questions during moderated Q&A sessions. “This was a year marked by recovery from prolonged inventory destocking in the materials sector, yet Ashland was able to deliver strategic progress, margin expansion, high-quality free cash flow, and disciplined execution across our global portfolio,” continued Novo. “Despite a complex operating environment, we demonstrated our ability to drive value through portfolio optimization, commercial excellence, and focused growth in our core markets. As we execute our strategy, we remain focused on delivering sustainable, profitable growth and long-term shareholder value. I look forward to providing more context during our upcoming event,” concluded Novo. To participate in Ashland’s strategy update event, interested participants must register for the event and have the option to attend via live webcast or in person. Presentations are expected to begin at 9:00 a.m. ET and conclude following Q&A sessions at 11:00 a.m. ET. After Q&A, in-person attendees will have the opportunity to discuss key initiatives with business line leaders and scientists in breakout sessions until 12:00 p.m ET. To register, participants should use the following link: registration page . Registration information and further event details will be posted on Ashland’s investor website at http://investor.ashland.com . A webcast of the event will be available live and can be accessed, along with supporting materials, through the Ashland website. A replay will be available within 24 hours of the live event and will be archived, along with supporting materials, on Ashland’s website for 12 months. Copies of the presentation may also be requested by sending an email to investor_relations@ashland.com About Ashland Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 3,200 passionate, tenacious solvers thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more. TM Trademark, Ashland or its subsidiaries, registered in various countries. FOR FURTHER INFORMATION: Attachments
NEW YORK (AP) — Los Angeles Dodgers shortstop Jose D. Hernandez was suspended for next year's Arizona Complex League season on Wednesday following a positive test for boldenone and nandrolone under baseball's minor league drug program. The 21-year-old Hernandez hit .302 with four homers and 21 RBIs in 26 games this year for the ACL Dodgers. The Venezuelan agreed to a contract with the Dodgers in 2019 that included a $10,000 signing bonus. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get the latest sports news delivered right to your inbox six days a week.No. 23 Alabama women beat Alabama State 83-33 at Emerald Coast Classic
KIA K4 SEDAN NAMED FINALIST FOR 2025 NORTH AMERICAN CAR OF THE YEARTM (NACTOY)Maryland (4-7, 1-7 Big Ten) at No. 4 Penn State (10-1, 7-1 Big Ten, No. 4 CFP), Saturday, 3:30 p.m. ET (BTN) BetMGM College Football Odds: Penn State by 24 1/2. Series record: Penn State 43-3-1. WHAT’S AT STAKE? The Nittany Lions will try for their first 11-win regular season in James Franklin’s 10-year tenure and hang onto their chance to host a playoff game. The Nittany Lions could still get to the Big Ten championship game, but would need Michigan to beat No. 2 Ohio State in Columbus earlier in the day. The Terrapins have lost four in a row and are trying to avoid their longest skid since losing seven straight to end the 2019 season. KEY MATCHUP Maryland’s front seven vs. Penn State’s running game. The Nittany Lions lost starting right tackle Anthony Donkoh to a long-term injury last week but were still able to eclipse the 100-yard rushing mark against a tough Minnesota defense. Maryland has allowed 176 rushing yards per game over its last four. The Terps will need to do better against a Nittany Lion ground game fueled by running backs Nicholas Singleton, Kaytron Allen, tight end Tyler Warren and quarterback Beau Pribula. PLAYERS TO WATCH Maryland: WR Tai Felton. Only one FBS player has more catches than Felton. The sure-handed senior leads the Big Ten with 92 catches for 1,097 yards. He’s scored nine touchdowns and should be a focal point for Penn State’s secondary. Penn State: Singleton. The explosive back has recovered from the unspecified injury that slowed him earlier in the season. He had a season-high 19 touches last week versus Maryland including a career-most six catches. FACTS & FIGURES Maryland is 2-3 in Happy Valley since joining the Big Ten with wins in 2014 and 2020. ... Felton has 183 more receiving yards than the next closest Big Ten WR (Illinois’ Pat Bryant) and is 143 yards away from Marcus Badgett’s single-season record set in 1992. ... Penn State has won seven of the last eight against Maryland. ... The Nittany Lions secured their 27th 10-win season last week. ... Warren became Penn State’s all-time leader in reception yards for a tight end (1,516) with 102 yards against Minnesota. ... DT Zane Durant leads the Big Ten and is fourth among Power Four tackles with 8 1/2 tackles for loss this season. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
