Facebook Parent Meta Cuts 11,000 Jobs, 13% of Workforce

Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.
The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk. There have been numerous job cuts at other tech companies that hired rapidly during the pandemic.
Zuckerberg said that he had made the decision to hire aggressively, anticipating rapid growth even after the pandemic lockdowns ended.
“Unfortunately, this did not play out the way I expected,” Zuckerberg said in a statement. “Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that.”
Meta, like other social media companies, enjoyed a financial boost during the pandemic lockdown era because more people stayed home and scrolled on their phones and computers. But as the lockdowns ended and people started going outside again, revenue growth began to falter.
Of particular concern to investors, Meta poured more than $10 billion a year into the “metaverse” as it shifts its focus away from social media. Zuckerberg predicts the metaverse, an immersive digital universe, will eventually replace smartphones as the primary way people use technology.
Spooked investors have sent company shares tumbling more than 71% since the beginning of the year, and the stock now trades at levels last seen in 2015.
An economic slowdown and a grim outlook for online advertising — by far Meta’s biggest revenue source — have contributed to Meta’s woes as well. This summer, the company posted its first quarterly revenue decline in history, followed by another, bigger decline in the fall.
Some of the pain is company-specific, while some is tied to broader economic and technological forces.
Last week, Twitter laid off about half of its 7,500 employees, part of a chaotic overhaul as Musk took the helm. He tweeted that there was no choice but to cut the jobs “when the company is losing over $4M/day.” He did not provide details about the losses. Snap, the owner of Snapchat, also recently laid off 1,000 workers and online real estate broker Redfin said Wednesday it is cutting 862 employees.

Meta and its advertisers are bracing for a potential recession. There’s also the challenge of Apple’s privacy tools, which make it more difficult for social media platforms like Facebook, Instagram and Snap to track people without their consent and target ads to them.
Although Meta has been hurt by broader economic trends that have curtailed spending on digital ads, the company’s challenges have been compounded by the rise of TikTok at the same time Zuckerberg is pouring billions into a metaverse that so far seems like a distant mirage, said Forrester Research analyst J.P. Gownder.
“They are making a big bet on something that may not happen for another five to 10 years,” Gownder said. “What they need to be doing is trying to solve some of their fundamental business problems. This (mass layoff) is only a stopgap.”
Zuckerberg said Meta is cutting costs across its business, but he added that this alone won’t bring big costs in line with its revenue growth.
In addition to the layoffs, a hiring freeze at the company will be extended through the first quarter of 2023, Zuckerberg said. The company has also slashed its real estate footprint and he said that with so many employees working outside of the office, the company will transition to desk sharing for those that remain.
More cost cuts at Meta will be rolled out in coming months, Zuckerberg said.
Zuckerberg told employees Wednesday that they will receive an email letting them know if they are among those being let go. Access to most company systems will be cut off for people losing their jobs, he said, because of the sensitive nature of that information.
“We’re keeping email addresses active throughout the day so everyone can say farewell,” Zuckerberg said.
Former employees will receive 16 weeks of base pay, plus two additional weeks for every year with the company, Zuckerberg said. Health insurance for those employees and their families will continue for six months.
Even with Wednesday’s reductions, Meta still has more than 75,000 workers around the globe. The company had 71,970 workers at the end of 2021, and less than 59,000 at the end of 2020.
Meta’s Wednesday layoffs, while historic for the company, break no tech industry records. Hewlett Packard let go about two-thirds of its workforce between 2010 and 2021, going from 324,600 employees to 111,000 as of Oct. 31, 2021, for HP Inc. and HP Enterprises, which had been one company back in 2010.
And its peak in 1986, IBM had about 400,000 employees worldwide. At the end of last year, IBM had about 282,000 full-time workers.
It’s not yet clear if Meta — and the social media economy — is on a similar trajectory. A decade ago, Facebook successfully pivoted its business from running a website on desktop computers to an app — then multiple apps — on smartphones. While it is possible that it will be able to make the switch again to a new communications platform in the metaverse, the world — and the company — have changed tremendously.

Source: Voice Of America

US Climate Envoy Kerry Launches Carbon Offset Plan

U.S. climate envoy John Kerry on Wednesday announced the creation of a carbon offset plan meant to help developing countries speed their transition away from fossil fuels.

Kerry launched the Energy Transition Accelerator (ETA) with the intention of funding renewable energy projects and accelerating clean energy transitions in developing countries.

The United States will develop the program with the Bezos Earth Fund and Rockefeller Foundation, with input from the public and private sectors which would operate through 2030 and possibly be extended to 2035.

Kerry said Chile and Nigeria were among the developing countries to have shown early interest in the ETA, and that Bank of America, Microsoft, PepsiCo and Standard Chartered Bank had voiced interest in “informing the ETA’s development”.

“Our intention is to put the carbon market to work to deploy capital to speed the transition from dirty to clean power specifically, to retire unabated coal-fired power and accelerate the buildout of renewables,” he said at the event launch on Wednesday. Kerry added that the carbon credits used in the program would be “high quality” and meet “strong safeguards”.

The U.S. climate envoy acknowledged widespread criticism of voluntary carbon offset schemes raised by environmental groups and a task force created by U.N. Secretary General Antonio Guterres, which on Tuesday recommended that carbon credits be used sparingly by companies and governments to avoiding undermining their net-zero emission plans.

Kerry said Guterres was supportive of the U.S.-led carbon market initiative provided there were safeguards to it.

The two had met earlier on Wednesday at the COP27 climate summit in Egypt.

Environmental groups panned the initiative, saying that the scheme would delay real efforts to slash emissions.

“A voluntary carbon credit program won’t guarantee deep, real cuts in emissions – it’s tantamount to rearranging the deck chairs as the climate ship is going down,” said Rachel Cleetus, policy director at the Union of Concerned Scientists.

At the event launch, a protester interrupted Kerry saying: “You’re providing false solutions.”

Kerry responded that fossil fuel companies would not participate in the program.

Source: Voice Of America

St Kitts and Nevis creates new opportunities for business by rooting out corruption

Basseterre, Nov. 09, 2022 (GLOBE NEWSWIRE) — The new administration of St Kitts and Nevis is committed to rooting out corruption and providing fertile new ground for business with its Anti-Corruption Act.

The Prime Minister of St Kitts and Nevis, Terrance Micheal Drew is looking to unleash the full potential of the country through proactive policymaking, instilling good governance and eradicating corruption. In this way, the government sees the new Anti-Corruption Act as one step towards reactivating its infrastructural and social growth and building a more resilient and inclusive economy.

The proposed Act will enable the appointment of a Special Prosecutor who will examine and prosecute criminal acts of corruption in the civil services, statutory boards and government-owned companies.

St Kitts and Nevis’s anti-corruption efforts are thus an essential part of a broader plan to attract international business and investors to the country. The country’s focus on ensuring ease of business and eradicating corruption has, in particular, generated significant interest from West African investors who are eager to launch their businesses overseas.

The wider aim of the anti-corruption drive is to promote ease of business in the country, with St Kitts and Nevis inviting investors to be part of its economic development. The government under the leadership of Prime Minister Drew, is specifically focused on formulating policies that attract Foreign Direct Investments (FDIs) to the country.

While corruption is a global problem, the Corruption Perception Index (CPI) ranks sub-Saharan African as having notably high levels of perceived corruption. In West Africa, particularly Nigeria, corruption has become a massive obstacle to business, undermining public trust, distorting markets and increasing costs to firms.

PricewaterhouseCoopers (PwC), a leading professional services network headquartered in London (UK), recently published a study indicating that Nigeria’s corruption could cost it up to 37% of its GDP by 2030 if it’s not dealt with immediately. The report further highlights the significant impact of corruption on Nigerians – including its wide-ranging effects on finance, business investment and standards of living.

All these difficulties are prompting West African investors to look further afield for business opportunities that offer safe and profitable returns. Many of these investors are turning to St Kitts and Nevis.

As an indicator of its commitment to citizens and investors, the government of St Kitts and Nevis is taking strict and serious action to ensure transparency in government. These measures and the general ease of doing business in the country are proving attractive to Nigerian investors who, facing a difficult situation at home, are looking to expand their horizons.

Meeting this interest is St Kitts and Nevis’s Citizenship by Investment Programme (CBI). For nearly four decades the programme has been inviting people to invest in the country as a route to gaining citizenship. Through an investment in the country’s Sustainable Growth Fund (SGF), investors are granted alternative citizenship, including the ability to conduct business freely in the country.

The CBI programme also helps investors to gain access to the world’s most exclusive markets, assisting with the expansion of business beyond national borders. Since St Kitts and Nevis is just a short flight away from the USA, citizens have the additional benefit of easy accessing the international community.

Alternative citizenship in St Kitts and Nevis is therefore becoming a crucial part of many individuals’ wealth diversification plans. Prospective Nigerian investors are viewing it as a means to preserve their wealth within an economically stable context, appreciating that St Kitts and Nevis’s economy is growing and free from the political and social conflicts that impact financial growth.

Along with a safe and corruption-free environment, St Kitts and Nevis offers a number of advantages to investors in its CBI programme. These include hassle-free global travel, citizenship for life which can also be passed on to future generations, a smooth and straightforward application process with the ability to add additional dependants to one application, possibilities for wealth diversification, and a host of new business opportunities.

Despite being the smallest country in the Western hemisphere, St Kitts and Nevis has been proving its potential to foreign investors. With a hospitality and service industry that has garnered international critical acclaim, the country also boasts one of the most robust and modernised public health infrastructures in the region.

St Kitts and Nevis’s education system now also offers advanced learning possibilities for all its citizens. This has proved a distinct benefit to investors, since the country allows investors the ability to pass their citizenship on to future generations. Thus investors and their families can enjoy the various rights and advantages open to those born in the country.

But it is not only Nigerians who have been thinking about personal wealth solutions in an unstable political and economic environment. Given the recent turmoil and instability of global markets, investors from around the world have been looking to St Kitts and Nevis’s CBI programme as a “Plan B” that can ensure financial and personal security.

Many investors have found that living in St Kitts and Nevis has had a positive impact on their mental health. Not only does the country provide its inhabitants with a tranquil environment of beaches and mountains to explore, but with the security and stability required to grow a business or provide for a family. As St Kitts and Nevis rolls out its good governance and transparency agenda, investors look on keenly to partake in its future.

PR St Kitts and Nevis
Government of St. Kitts and Nevis
mildred.thabane@csglobalpartners.com

GlobeNewswire Distribution ID 8692970

L’Indonésie en passe de devenir le centre mondial de l’économie de la charia

DUBAÏ, Émirats arabes unis, 9 novembre 2022 /PRNewswire/ — PT Bank Syariah Indonesia Tbk (BSI) a affirmé l’engagement de l’Indonésie à devenir l’un des centres de la finance islamique mondiale, à travers l’introduction de quatre programmes visant à renforcer cet écosystème en Indonésie et à l’étranger.

Vice President Ma'ruf Amin accompanied by President Director of Bank Syariah Indonesia Hery Gunardi (second right), Compliance & HR Director of Bank Mandiri Agus Dwi Handaya (left) and Principal Representative Office of BSI Dubai Dian Faqihdien Suzabar when visiting Dubai Representative Office of PT Bank Syariah Indonesia Tbk.

Le ministre des entreprises publiques, Erick Thohir, a dirigé la préparation par les ministères de quatre programmes phares pour former cet écosystème. Le premier est le développement du marché de l’industrie halal dans le pays et à l’étranger. Le deuxième est le développement de l’industrie financière de la charia. Le troisième est l’investissement amical impliquant des entrepreneurs locaux. Et le quatrième, la croissance continue de l’économie de la charia dans les zones rurales.

Reconnaissant le potentiel de l’économie de la charia en Indonésie, le ministre Erick Thohir a exprimé son désir que les Indonésiens ne soient pas seulement des consommateurs de produits halal importés, mais aussi des producteurs. « Nous devrions être les producteurs et un acteur mondial. Mais cela serait impossible sans un système financier solide fondé sur la charia », a déclaré Erick Thohir.

Selon le rapport sur les indicateurs de l’état de l’économie islamique mondiale (« The State of Global Islamic Economy »), l’Indonésie a continuellement affiché une croissance significative. En 2019, le pays figurait parmi les 10 premiers pays de l’économie de la charia dans le monde. En 2020, ce rang a été relevé, plaçant l’Indonésie dans les cinq premiers.

Erick Thohir a créé la holding de la banque charia de l’État, la PT Bank Syariah Indonesia (BSI). La BSI est le résultat de la fusion de trois banques charia, à savoir la BNI Syariah, la BRI Syariah et la Bank Syariah Mandiri, qui a été inaugurée le 1er février 2021. La BSI est la plus grande banque islamique et la 7e plus grande banque d’Indonésie.

Le vice-président de la République d’Indonésie Ma’ruf Amin a déclaré, « La BSI devrait pouvoir faire de l’Indonésie le centre de l’industrie de la charia et de l’écosystème halal mondial. » « Notre espoir est que la BSI joue ce rôle non seulement au niveau national, mais aussi au niveau mondial. Par analogie, les banques islamiques ne jouent plus seulement dans une petite piscine, mais sont capables de nager dans le vaste océan », a déclaré Ma’ruf Amin, lors d’une visite au bureau de représentation de la BSI à Dubaï, Émirats arabes unis, le 4 novembre 2022.

Hery Gunardi, président-directeur de la BSI, a déclaré que la banque s’engageait à soutenir pleinement toutes les initiatives visant à renforcer l’écosystème dans le but de devenir le centre de gravité mondial de l’économie de la charia. La BSI, a-t-il dit, n’a cessé de développer l’écosystème financier de la charia dans le pays.

« L’Indonésie a un grand potentiel dans l’industrie halal », a ajouté Hery Gunardi. En effet, plus de 229 millions de personnes sont musulmanes, ce qui représente 87,2 % de la population totale du pays. Le potentiel de l’industrie alimentaire halal s’élève à 164,76 milliards de dollars. D’autres secteurs potentiels sont l’habillement (20 milliards de dollars), les médias halal (9,52 milliards de dollars), le tourisme halal (10,48 milliards de dollars), l’industrie de la santé (4,76 milliards de dollars), les cosmétiques halal et le hajj et la oumra (3,81 milliards de dollars). D’autres activités liées à la charia, comme l’investissement, ont un potentiel d’environ 122,65 milliards de dollars.

La BSI a également commencé à s’implanter sur le marché mondial. L’une d’entre elles est située au Moyen-Orient dans le cadre de la coopération avec des conglomérats internationaux et des startups à Dubaï, aux Émirats arabes unis, ce qui marque également l’expansion de la plus grande banque islamique d’Indonésie sur la scène mondiale. Cette étape a permis d’accélérer la prise en compte de la BSI au sein de la communauté internationale en augmentant ses capacités, sa compétitivité et sa réputation. La présence de réseaux commerciaux à l’étranger permet à la BSI d’interagir directement avec des composantes importantes du secteur bancaire mondial.

Hery Gunardi espère que la BSI se rapprochera des investisseurs mondiaux afin que la société puisse contribuer davantage au soutien des programmes du gouvernement de la République d’Indonésie, à la fois en finançant des projets d’infrastructure et de développement par l’émission du fonds Global Sukuk et en soutenant le développement des MPME nationales.

La BSI a maintenu ses performances positives au troisième trimestre 2022, réalisant un bénéfice net de 218,36 millions de dollars, soit une croissance de 42 % (sur 12 mois). Ces performances ont également été soutenues par la confiance du public, comme le prouve la hausse de 11,86 % des fonds de tiers qui ont atteint 16,68 milliards de dollars.

Le secteur du financement a également connu une croissance significative. Le financement de la BSI dans son ensemble a enregistré 13,59 milliards de dollars, soit une croissance de 22,35 %. Par segments, c’est le micro-financement qui a le plus contribué avec 37,32 %. Le financement à la consommation a augmenté de 25,26 %, le financement de gros de 21,79 %, le financement par cartes de crédit de 35,81 % et le prêt sur gage d’or de 30,15 %. De plus, le financement non performant (FNP) net n’était que de 0,43 %.

La croissance de 11,53 % des actifs témoigne également de performances solides et saines. La BSI s’est également efforcée d’optimiser ses coûts, comme en témoigne le meilleur ratio BOPO de 74,02 %. Jusqu’en septembre 2022, on comptait déjà 4,44 millions d’utilisateurs de BSI Mobile, en hausse de 43 % par an. D’après les profils des clients de la BSI, 97 % d’entre eux ont adopté le canal électronique pour leurs activités bancaires. Les transactions cumulées de BSI Mobile ont atteint 187,20 millions de transactions.

Le financement durable a atteint 3,47 milliards de dollars, soit 25,54 % du financement total de la BSI. « La promotion du financement durable est l’un de nos engagements dans le cadre de nos responsabilités sociales et environnementales dans diverses régions du pays, ainsi que notre soutien à la présidence indonésienne du G20 », a ajouté Hery Gunardi.

Photo – https://mma.prnewswire.com/media/1941007/TRW2022_1_25.jpg

Morrow Sodali Fortalece sua Posição de Liderança no Mercado com a Nova Aquisição Australiana

Aquisição das principais comunicações financeiras australianas e do player de relações com investidores, a Citadel-MAGNUS impulsionará o rápido crescimento e a expansão significativa

NOVA YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) — Morrow Sodali, empresa líder mundial em engajamento de acionistas e assessoria em governança, anunciou hoje a aquisição da agência australiana de comunicação financeira e relações com investidores, Citadel-MAGNUS, a primeira desde que a TPG Growth garantiu a participação majoritária em abril deste ano.

A aquisição sediada na Austrália representa uma expansão significativa da oferta de serviços da Morrow Sodali na região da APAC, para atender à demanda global de rápido crescimento de corporações para comunicações estratégicas e serviços de engajamento com investidores.

A combinação da Morrow Sodali e da Citadel-MAGNUS traz junto duas consultorias de confiança e líderes de mercado para oferecer o melhor aconselhamento estratégico da categoria e suporte aos nossos clientes. A Citadel-MAGNUS estará completamente integrada na Morrow Sodali, permitindo à firma fornecer uma oferta contínua e a mais ampla suíte de relações com investidores e soluções de comunicação para empresas listadas e privadas, com o objetivo de implementar os serviços expandidos a outros mercados.

A aquisição marca um significativo passo adiante na estratégia da Morrow Sodali de acelerar seu crescimento investindo em serviços que criam valor para seus clientes ao redor do mundo.

Alvise Recchi, CEO da Morrow Sodali, comentou: “Como parte da estratégia de crescimento global estratégico da Morrow Sodali, a adição da Citadel-MAGNUS expandirá nossa oferta de serviços para abranger um conjunto mais amplo de serviços de assessoria de Conselho, Diretoria Executiva e ESG, Relações com Investidores e Comunicações Financeiras. Estamos entusiasmados para ver o potencial desta oportunidade emocionante concretizado, à medida que continuamos a crescer em novos mercados em todo o mundo.”

Christian Sealey, CEO de Negócios Internacionais da Morrow Sodali, acrescentou: “Cada vez mais, nossos clientes estão vindo até nós em busca de aconselhamento e assistência em uma grande variedade de áreas que abrangem comunicação com os acionistas, engajamento de stakeholders, inteligência do mercado de capitais, governança corporativa e consultoria ESG. A aquisição da Citadel-MAGNUS nos permite fornecer soluções estratégicas para nossos clientes e nos posiciona de modo singular, para nos tornarmos o parceiro de confiança permanentemente escolhido.”

Peter Brookes, Diretor Geral Conjunto da Citadel-MAGNUS, afirmou: “Nossa equipe está entusiasmada em unir forças com a Morrow Sodali. Estamos vendo uma necessidade crescente de fornecer aos clientes uma oferta de ponta-a-ponta em todo o calendário financeiro e uma atividade direcionada por eventos cada vez mais complexos, onde a boa comunicação é fundamental. A combinação de nossas firmas reúne duas empresas de consultoria líderes e confiáveis, profundamente integradas à Austrália corporativa e que compartilham um forte foco na entrega de serviço excepcional ao cliente.”

Sobre a Morrow Sodali

Morrow Sodali é uma empresa global de consultoria corporativa que oferece consultoria e serviços abrangentes relacionados à governança corporativa, ESG, sustentabilidade, solicitação de procuração, inteligência dos mercados de capitais, engajamento de acionistas e detentores de títulos, fusões e aquisições, ativismo e situações contestadas.

Com sede em Nova York e Londres e escritórios nos mercados de capitais globais, a Morrow Sodali atende a mais de 1.000 clientes, em mais de 80 países, incluindo muitas das maiores corporações multinacionais do mundo. Os clientes incluem empresas listadas em bolsa e privadas, grupos de fundos mútuos, bolsas de valores e organizações de associação por inscrição.

Em 2022, a Morrow Sodali está comemorando seu 50o aniversário, e também garantiu um investimento majoritário da TPG Growth, a plataforma de middle market e de capital de crescimento da empresa de ativos alternativos TPG. Esta parceria promoverá significativamente a missão da empresa de fornecer a clientes em todo o mundo aconselhamento estratégico incomparável e suporte abrangente, permitindo que maximizem o valor e gerenciem habilmente as relações com acionistas.

Para obter mais informações sobre a Morrow Sodali, visite www.morrowsodali.com.

Sobre a Citadel-MAGNUS

A Citadel-MAGNUS é uma empresa líder em comunicação corporativa e financeira, com escritórios em Sydney e Perth, atendendo clientes em toda a Austrália e internacionalmente.

Estabelecemos a reputação de entregar resultados excepcionais para nossos clientes por meio de relacionamentos confiáveis, integridade e excelência profissional. Nossa prioridade é apoiar os objetivos de negócios de nossos clientes por meio de uma comunicação eficaz e um nível superior de serviço.

A Citadel-MAGNUS traz uma profundidade incomparável de mercados financeiros, experiência corporativa e de mídia para ajudar as empresas a resolver os desafios atuais de um ambiente de negócios altamente competitivo e em constante mudança. Trabalhamos com empresas de todos os setores e de todos os portes, e nosso sucesso levou a parcerias estabelecidas e de longo prazo com líderes empresariais e empresas.

Para mais informações, acesse www.citadelmagnus.com.

CONTATO:

Elena Cargnello

Diretora Corporativa, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913

GlobeNewswire Distribution ID 1000755852

Hitachi Energy to provide world’s first SF6-free 420 kV gas-insulated switchgear technology at TenneT’s grid connection in Germany

Contributing to TenneT’s carbon neutrality goals to build a sustainable and resilient grid in Germany

Zurich, Switzerland, Nov. 09, 2022 (GLOBE NEWSWIRE) — Hitachi Energy announced today it will provide the world’s first sulfur hexafluoride (SF6) free 420-kilovolt (kV) gas-insulated switchgear (GIS) technology and a state-of-the-art modular prefabricated grid connection solution at a key node at TenneT’s power grid in Germany, supporting the leading European grid operator to achieve its carbon neutrality goals.

This project covers a major grid connection upgrade which significantly extends the operating life of existing power assets to ensure the longevity and continued efficiency of the existing power infrastructure. The global technology leader will deliver innovative EconiQ™ 420 kV GIS that uses a game-changing technology that eliminates SF6 with reliable and scalable solutions for the lowest carbon footprint.

TenneT is a major transmission system operator in the Netherlands and Germany, supplying power to some 42 million homes and businesses in both countries. The company aims to be a driving force behind the energy transition by investing in eco-efficient technologies to reduce greenhouse gas emissions. As a transmission system operator, TenneT is a key player on the historic path to a safe, reliable and carbon-free energy system.

To support TenneT on its transition to SF6-free solutions, Hitachi Energy will contribute pioneering technologies, unique system integration capabilities, engineering expertise and extensive experience with local grid code requirements to strengthen the grid connection at the 220-megawatt (MW) Erzhausen pumped storage power plant near Hanover. This project uses Building Information Modeling, a consolidated and collaborative digital working method that allows decision-based 3D modeling and improves facility management via a digital twin for the life cycle of the power asset. The entire project will be completed in 2026.

In this project, Hitachi Energy will install three bays of EconiQ 420 kV GIS to enable the transmission of large amounts of electricity over long distances while eliminating significant volumes of SF6. This eco-efficient innovation remains similar in size while being 100 percent as reliable as the conventional GIS solution based on SF6. This installation will effectively avoid the addition of nearly 2,300 kg of SF6, equivalent to removing the CO2 emissions of around 1,1501 passenger vehicles per year.

“We are proud to collaborate with TenneT in their efforts to accelerate the energy transition and strengthen the power infrastructure in Germany,” said Claudio Facchin, Chief Executive Officer of Hitachi Energy. “At Hitachi Energy, we are championing the urgency of the energy transition through innovation and collaboration. Through our modular prefabricated grid connections and EconiQ high-voltage switchgear technology, we are supporting our customers to reduce their carbon footprint and enabling a more sustainable, flexible and secure energy system.”

EconiQ is Hitachi Energy’s eco-efficient portfolio for sustainability, where products, services and solutions are proven to deliver exceptional environmental performance. Hitachi Energy has placed sustainability at the heart of its Purpose and is advancing a sustainable energy future for all.

1 Based on the assumption that a passenger vehicle emits 19 kg CO2 equivalent per 100 km and drives 10,000 km per year.

About Hitachi Energy Ltd.

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.

https://www.hitachienergy.com

https://www.linkedin.com/company/hitachienergy

https://twitter.com/HitachiEnergy

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

Attachments

Jocelyn Chang
Hitachi Energy Ltd.
+41793847775
jocelyn.chang@hitachienergy.com

GlobeNewswire Distribution ID 8692688

Morrow Sodali renforce sa position de leader du marché avec une nouvelle acquisition australienne

L’achat de Citadel-MAGNUS, acteur clé de la communication financière et des relations avec les investisseurs en Australie, stimulera une croissance rapide et une expansion significative de la société.

NEW YORK, 09 nov. 2022 (GLOBE NEWSWIRE) — Morrow Sodali, le plus grand cabinet de conseil en gouvernance et en engagement des actionnaires au monde, a annoncé aujourd’hui l’achat de Citadel-MAGNUS, agence australienne de communication financière et de relations avec les investisseurs. C’est la première acquisition depuis que TPG Growth a fourni un investissement majoritaire en avril de cette année.

L’acquisition basée en Australie représente une expansion significative de l’offre de services de Morrow Sodali dans la région Asie-Pacifique pour répondre à la croissante et rapide demande globale des sociétés au sujet de communication stratégique et des services d’engagement des investisseurs.

L’alliance de Morrow Sodali et Citadel-MAGNUS réunit deux consultants de confiance et de premier plan sur le marché pour fournir les meilleurs conseils stratégiques et soutenir nos clients. Citadel-MAGNUS sera entièrement intégrée à Morrow Sodali, permettant ainsi à l’entreprise de proposer aux entités cotées et privées une offre homogène et la gamme la plus complète de solutions en ce qui concerne les relations entre investisseurs et la communication stratégique. Le tout dans l’intention de déployer les services étendus vers d’autres marchés.

L’acquisition marque une avancée significative dans la stratégie de Morrow Sodali visant à accélérer sa croissance par l’investissement dans des services qui créent de la valeur pour ses clients du monde entier.

Alvise Recchi, PDG de Morrow Sodali, a déclaré : « Dans le cadre de la stratégie de croissance stratégique mondiale de Morrow Sodali, l’ajout de Citadel-MAGNUS étendra notre offre pour inclure une gamme plus large de services aux conseils d’administration, aux cadres supérieurs, de conseils relatifs à l’ESG, de relations avec les investisseurs et de communications financières. Nous sommes impatients de voir le potentiel de cette opportunité passionnante se réaliser, en même temps que nous continuons de croître sur de nouveaux marchés à travers le monde. »

Christian Sealey, PDG de Morrow Sodali’ s International Business, a ajouté : « De plus en plus, nos clients nous demandent conseil et assistance dans un large éventail de domaines, notamment la communication avec les actionnaires, l’engagement des parties prenantes, les renseignements sur les marchés de capitaux, la gouvernance d’entreprise et les conseils relatifs à l’ESG. L’acquisition de Citadel-MAGNUS nous permet de fournir des solutions stratégiques à nos clients et nous positionne de manière unique pour devenir leur partenaire de confiance, de choix et permanent. »

Peter Brookes, co-directeur général de Citadel-MAGNUS, a déclaré : « Notre équipe est ravie de s’associer à Morrow Sodali. Nous constatons un besoin croissant de fournir aux clients une offre complète tout au long du calendrier financier et au milieu d’une activité de plus en plus complexe axée sur les événements pour laquelle une bonne communication est primordiale. L’alliance de nos cabinets réunit deux sociétés de conseil de premier plan et de confiance, profondément ancrées dans le paysage corporatif australien, et qui partagent l’idée d’une emphase sur la prestation d’un service exceptionnel à la clientèle. »

À propos de Morrow Sodali

Morrow Sodali est un cabinet mondial de conseil aux entreprises qui fournit à ses clients des conseils et services complets en matière de gouvernance d’entreprise, ESG, durabilité, sollicitation de procurations, renseignement sur les marchés financiers, engagement des actionnaires et obligataires, fusions et acquisitions, activisme et situations contestées.

Depuis ses sièges sociaux à New York et Londres et ses bureaux sur les marchés des capitaux mondiaux, Morrow Sodali sert plus de 1 000 clients dans plus de 80 pays, avec notamment de nombreuses sociétés multinationales parmi les plus importantes au monde. Parmi ses clients, s’incluent des sociétés cotées et privées, des groupes de fonds communs de placement, des marchés boursiers et des associations de membres.

En 2022, Morrow Sodali célèbre son 50e anniversaire ainsi que l’entrée majoritaire au sein de la compagnie de TPG Growth, la plateforme de capitaux de croissance et de marché intermédiaire de TPG. Ce partenariat fera considérablement progresser la mission du cabinet qui consiste à fournir à ses clients du monde entier

des conseils stratégiques inégalés et un soutien complet, leur permettant ainsi de maximiser la valeur des investissements et de gérer efficacement les relations avec les parties prenantes.

Pour plus d’informations sur Morrow Sodali, veuillez consulter le site www.morrowsodali.com.

À propos de Citadel-MAGNUS

Citadel-MAGNUS est une société de premier plan dans la communication financière et d’entreprise, présente à Sydney et Perth, au service de clients en Australie et à l’international.

Nous avons acquis la réputation d’offrir des résultats exceptionnels à nos clients grâce à des relations de confiance, à notre intégrité et à notre excellence professionnelle. Notre priorité est de soutenir les objectifs commerciaux des clients grâce à une communication efficace et un niveau de service supérieur.

Citadel-MAGNUS apporte une expérience inégalée des marchés financiers, des entreprises et des médias pour aider les entreprises à relever les défis de l’environnement commercial hautement concurrentiel et changeant d’aujourd’hui. Nous avons travaillé avec des entreprises de tous les secteurs et de toutes les tailles, et notre succès nous a permis d’établir des partenariats à long terme avec des chefs d’entreprise et des compagnies.

Pour plus d’informations, veuillez visiter www.citadelmagnus.com.

CONTACT :

Elena Cargnello

Directrice générale, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913

Related Links

Citadel-MAGNUS joins Morrow Sodali family

Morrow Sodali strengthens its market leading position with a new Australian ac quisition

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Com as Festas de Fim de Ano se Aproximando, Crurated Anuncia Mais Leilões Fracionados em Barril Apoiados pela Tecnologia NFT Com Enólogos da França e da Itália

Para presentear, colecionar ou se deliciar todos os dias, o novo calendário apresenta alguns dos melhores produtores da Europa e cobre o restante de 2022

LONDRES, Nov. 08, 2022 (GLOBE NEWSWIRE) — Com a temporada de festas e presentes chegando, a Crurated, uma comunidade de vinhos baseada em blockchain e assinatura, lançou um novo calendário de leilões de barris para o restante de 2022. A oferta conta com alguns dos melhores enólogos da França e da Itália e amplia as vendas de barris fracionados após uma primeira rodada de leilões bem-sucedida. O programa anunciado recentemente permite que os membros da Crurated comprem frações de barris certificados pela tecnologia blockchain e NFT.

Os compradores também podem personalizar os formatos e rótulos das garrafas para o destinatário do presente ou para si mesmos. Muitos dos produtores na plataforma raramente ou nunca fazem garrafas maiores, mesmo com os pedidos frequentes dos colecionadores e compradores. Com os barris fracionados os produtores podem determinar a quantidade e os tamanhos exatos das garrafas. Em muitos casos, a única forma de obter formatos maiores para os vinhos leiloados é através da Crurated.

A próxima rodada de leilões de barris fracionados inclui:

  • Domaine Gerorges Mugneret-Gibourg — 7 a 13 de novembro
    • Vosne-Romanée “La Colombière” 2021
    • Chambolle-Musigny 1er Cru “Les Feusselottes” Cuvée Augustin 2021
    • Ruchottes-Chambertin Grand Cru 2021
  • Domaine Pierre Girardin — 14 a 20 de novembro
    • Échezeaux Grand Cru 2021
    • Bonnes-Mares Grand Cru 2021
    • Griotte-Chambertin Grand Cru 2021
    • Richebourg Grand Cru 2021
  • Montevertine — 21 a 27 de novembro
    • Le Pergole Torte 2020
  • Domaine Y. Clerget — 5 a 11 de dezembro
    • Clos de Vougeot Grand Cru 2021
    • Volnay 1er Cru Clos du Verseuil 2021
    • Pommard 1er Cru Les Rugiens 2021
  • Domaine Hubert Lignier – 12 a 18 de dezembro
    • Clos de la Roche Grand Cru Bio 2021
    • Morey Saint-Denis 1er Cru Vieilles Vignes Bio 2021
    • Morey-Saint-Denis Trilogie Bio 2021
    • Bourgogne Pinot Noir Grand Chaliot 2021
  • Domaine Bruno Colin — 19 a 25 de dezembro
    • Corton-Charlemagne Grand Cru 2021

“Quando lançamos as vendas de barris, sabíamos que o que estávamos oferecendo aos nossos associados era único. Mal sabíamos que os barris se esgotariam tão rapidamente e, em alguns casos, dentro de apenas 24 horas”, disse Alfonso de Gaetano, fundador da Crurated. “A nossa equipe tem o prazer de anunciar uma nova lista de leilões com alguns dos vinhos mais procurados da Europa e bem a tempo para as festas de fim de ano.”

Sobre a Crurated
Lançada em 2021 com ênfase na França e na Itália, a Crurated é uma associação da comunidade vinícola criada para conectar conhecedores e produtores de todo o mundo. Uma equipe de especialistas oferece serviços personalizados e experiências autênticas, enquanto o serviço de logística contínuo da Crurated garante a qualidade e a proveniência, graças ao armazenamento seguro da adega e à inovadora tecnologia blockchain. Para mais informação sobre a Crurated, visite crurated.com.

Michael Volpatt
michael@larkinvolpatt.com
415 994 8864

Foto deste comunicado disponível em https://www.globenewswire.com/NewsRoom/AttachmentNg/ee03a3c2-35fd-4334-9adb-d2f8c7c2a7e9

Vídeo deste comunicado disponível em https://www.globenewswire.com/NewsRoom/AttachmentNg/c848d052-fe03-4cdb-becd-c00e6a4cdb57

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Juste à temps pour les fêtes, Crurated annonce des ventes aux enchères supplémentaires de tonneaux fractionnés soutenues par la technologie NFT avec des vignerons de France et d’Italie

Pour les personnes à la recherche d’idées de cadeaux, d’objets de collection ou de plaisirs quotidiens, le nouveau calendrier met en vedette certains des meilleurs producteurs européens et couvre le reste de l’année 2022

LONDRES, 08 nov. 2022 (GLOBE NEWSWIRE) — À l’approche de la période des fêtes et des cadeaux, Crurated, une communauté viticole basée sur la blockchain et les membres, a publié un nouveau calendrier de ventes aux enchères de tonneaux pour le reste de l’année 2022. L’offre met en vedette certains des meilleurs viticulteurs de France et d’Italie, et prolonge les ventes de tonneaux fractionnés après une première série de ventes aux enchères fructueuse. Le programme récemment annoncé permet aux membres de Crurated d’acheter des fractions de tonneaux qui sont certifiées par le biais de la blockchain et de la technologie NFT.

L’offre donne également aux acheteurs la possibilité de personnaliser les formats de bouteilles et les étiquettes pour le destinataire du cadeau ou pour eux-mêmes. De nombreux producteurs de la plateforme proposent rarement, voire jamais, des bouteilles de plus grand format, même si les collectionneurs et les acheteurs les demandent souvent. Les tonneaux fractionnés permettent désormais aux producteurs de déterminer le nombre et la taille exacts des bouteilles nécessaires. Dans de nombreux cas, la seule façon d’avoir des formats plus grands pour les vins mis aux enchères est exclusivement par le biais de Crurated.

La prochaine série de ventes aux enchères de tonneaux fractionnés comprend :

  • Domaine Gerorges Mugneret-Gibourg — du 7 au 13 novembre
    • Vosne-Romanée « La Colombière » 2021
    • Chambolle-Musigny 1er Cru « Les Feusselottes » Cuvée Augustin 2021
    • Ruchottes-Chambertin Grand Cru 2021
  • Domaine Pierre Girardin — du 14 au 20 novembre
    • Échezeaux Grand Cru 2021
    • Bonnes-Mares Grand Cru 2021
    • Griotte-Chambertin Grand Cru 2021
    • Richebourg Grand Cru 2021
  • Montevertine — du 21 au 27 novembre
    • Le Pergole Torte 2020
  • Domaine Y. Clerget — du 5 au 11 décembre
    • Clos de Vougeot Grand Cru 2021
    • Volnay 1er Cru Clos du Verseuil 2021
    • Pommard 1er Cru Les Rugiens 2021
  • Domaine Hubert Lignier — du 12 au 18 décembre
    • Clos de la Roche Grand Cru Bio 2021
    • Morey Saint-Denis 1er Cru Vieilles Vignes Bio 2021
    • Morey-Saint-Denis Trilogie Bio 2021
    • Bourgogne Pinot Noir Grand Chaliot 2021
  • Domaine Bruno Colin — du 19 au 25 décembre
    • Corton-Charlemagne Grand Cru 2021

« Lorsque nous avons lancé les ventes de tonneaux, nous savions que ce que nous proposions à nos membres était unique. Rien ne laissait entrevoir que les tonneaux se vendraient si rapidement et dans certains cas dans les 24 heures », a déclaré Alfonso de Gaetano, fondateur de Crurated. « Notre équipe a le plaisir d’annoncer une nouvelle série d’enchères avec certains des vins les plus prisés d’Europe et juste à temps pour les fêtes de fin d’année. »

À propos de Crurated
Lancée en 2021 en mettant un accent particulier sur la France et l’Italie, Crurated est une communauté de vignerons basée sur l’adhésion conçue pour mettre en relation directement les connaisseurs et les producteurs de classe mondiale. Une équipe de spécialistes fournit des services personnalisés et des expériences authentiques, tandis que le service logistique transparent de Crurated garantit la qualité et l’origine grâce à un stockage sécurisé de caves à vin et une technologie de blockchain innovante. Pour en savoir plus sur Crurated, veuillez consulter le site crurated.com.

Michael Volpatt
michael@larkinvolpatt.com
415 994 8864

Une photo accompagnant ce communiqué de presse est disponible à l’adresse https://www.globenewswire.com/NewsRoom/AttachmentNg/ee03a3c2-35fd-4334-9adb-d2f8c7c2a7e9

Une videó accompagnant ce communiqué de presse est disponible à l’adresse https://www.globenewswire.com/NewsRoom/AttachmentNg/c848d052-fe03-4cdb-becd-c00e6a4cdb57

GlobeNewswire Distribution ID 8692272

CryptoDATA Tech becomes RNF MotoGP Team majority and strategic shareholder

CryptoDATA Tech becomes RNF MotoGP Team majority and strategic shareholder

RNF Racing Ltd. is pleased to announce a new majority shareholder with CryptoDATA Tech, a blockchain-applied technologies pioneer and developer of hardware and software cybersecurity solutions. This strategic investment marks a significant milestone and a beginning of a new era for the fifteen months old RNF MotoGP team.*Ovidiu Toma – CEO CryptoDATA Tech (left), Carmelo Ezpeleta – CEO Dorna Sports (left-center), Razlan Razali – Team Principal RNF MotoGP Team (right-center), Bogdan Mărunțiș – Global Strategy CryptoDATA Tech (right).

BUCHAREST, Romania, Nov. 08, 2022 (GLOBE NEWSWIRE) — CryptoDATA Tech, a blockchain-applied technologies pioneer and developer of hardware and software cybersecurity solutions, is pleased to announce the acquisition of a majority stake in RNF Racing Ltd. This strategic investment marks a significant milestone and a beginning of a new era for the fifteen months old RNF MotoGP team and the Romanian holding.

After previously announcing the cybersecurity company as the Official Premium Partner for the final three races of the season, CryptoDATA’s became a partner who shared the same passion, values and recognised the potential value of a MotoGP team in the long term.

With CryptoDATA as the majority shareholder, the vision and strategy is to go beyond racing and expand the business and services into motorsports mainly in MotoGP and taking the role of the business and branding aspects of the team. RNF MotoGP Team will continue participating as an Independent Team in the premier class of the FIM MotoGP World Championship with Team Principal Razlan Razali remaining at the helm focusing on the sporting and technicality side of the team.

In conjunction with the final race of the season and to mark the start of this historical milestone, RNF MotoGP Team and CryptoDATA will be unveiling a special livery design on race day at the Valencia Grand Prix.

Razlan Razali, Founder and Team Principal, RNF Racing Ltd,
“Today marks a historical milestone for the team. I’d like to thank CryptoDATA for putting their trust in me and the team for the future.”

“In a short period of time, discussions have evolved into a long term commitment. We have extended our partnership, and as I previously stated, this is a fantastic collaboration. The union of the two companies will drive the team to not just perform in racing, but also to grow the business aspects of the team, and this is where both parties join forces to share expertise and experience. My main focus is to ensure the team fights for the championship while CryptoDATA’s team consisting of young, smart, innovative, and ambitious individuals will develop strategies to strengthen our position off track.”

“With the experience from our previous successes, the same strong and passionate crew from our MotoGP garage, and a solid rider line-up, we are set for a competitive comeback with CryptoDATA for the next season.”

Ovidiu TOMA, Chief Executive Officer and Founder, CryptoDATA Tech,
“We are delighted to extend our partnership and become the majority shareholder of the RNF MotoGP Team. The MotoGP World Championship is an exclusive and international showcase, a special universe where the starting grid is a stage for heroes in which CryptoDATA has found its space by sharing its values and objectives. We became the first Romanian company to Title Sponsor a Moto Grand Prix at the Red Bull track this year, and we are now more excited and motivated than ever to become the majority shareholder in the RNF Team. This represents not only a historical milestone for CryptoDATA, but also a new beginning and a significant incentive.

“We look to 2023 with optimism and confidence as our team is led by trained, serious, and experienced managers. We will do our best to support the team to achieve their goals and to reach their highest potential in MotoGP.”

Bogdan Mărunţiş, Global Strategy and Founder, CryptoDATA Tech,
“We are glad to announce our partnership with the RNF team, and we are confident that we can help the team set strategic goals for the upcoming season and long-term performance goals both on and off-track. We want to start the team’s transformation into a successful business that will provide unique experiences to our fans and partners while promoting our brand values in the top series of global racing.”

“As CryptoDATA representatives, we will be in charge of the business’s strategic management and will work to provide stability and further strengthen the team’s position in the MotoGP world and in the business world.”

Carmelo Ezpeleta, Chief Executive Officer, Dorna Sports S.L,
“The agreement that Razlan Razali has reached with CryptoDATA allows him to maintain the viability and presence of his project in MotoGP. We are delighted to see a new sponsor supporting a team, especially one that Dorna brought to the championship. We were happy with the relationship with CryptoDATA at the Austrian Grand Prix, they have the idea to develop and the idea to put things together with Aprilia next year which is the stability needed for MotoGP, it’s a very warm welcome for CryptoDATA to MotoGP. The fact that they are not just limiting their participation in the sponsorship area but in an entire team shows the importance of Motorsport and of MotoGP in particular. We know that Razlan had many requests, and we believe he has chosen the best option for the future and to consolidate his structure.”

About RNF MotoGP Team

A new beginning, a collaboration that goes beyond racing. The RNF MotoGP Team will debut in the premier class of the 2023 FIM MotoGP World Championship grid as the first-ever satellite team for Aprilia showcasing Portuguese MotoGP rider and 5-times race winner Miguel Oliveira with promising Spanish youngster and 2021 Moto2 Vice World Champion, Raul Fernandez.

The addition of CryptoDATA to the RNF MotoGP Team brings sustainability on and off track, as it sets the tone for further developing and improving performance in the upcoming season. The team will collaborate on two missions for the team with CryptoDATA spearheading the business side while RNF MotoGP Team focuses on the sports itself.

Our shared passion for performance, innovations and technology will bring a fresh and unique value to the world of motorsports.

About CryptoDATA Tech

CryptoDATA Tech is a global ambassador for promoting the importance of data security and digital privacy worldwide. The company has pioneered the development of services and products based on blockchain technology that enables private and secure communication, satisfying the requirements of its collaborators as well as tech users worldwide. Wispr, one of its major products, is an online messaging app that allows motorsport fans to exchange messages without constraints from anywhere in the world, thereby fueling the passion and determination of the motorsport community.

Contact details:
Cosmin Bidileci
Email: cosmin.bidileci@cryptodata.com
Phone: +40750803241

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2edbe83b-3def-4c0b-9b14-5bc24d38858e

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