As many as 13,823 new COVID-19 infections were reported in the country in the last 24 hours, taking the cumulative caseload to 1,05,95,660 on Wednesday, the Union Health Ministry said
As many as 13,823 new COVID-19 infections were reported in the country in the last 24 hours, taking the cumulative caseload to 1,05,95,660 on Wednesday, the Union Health Ministry said
Another day, another kitchen hack.
China International Import Expo (CIIE) welcomes more consumer goods companies and opens registration.
Dublin, Feb. 26, 2021 (GLOBE NEWSWIRE) -- The "European Building Insulation Materials Market Driven by Energy-efficiency Targets" report has been added to ResearchAndMarkets.com's offering. The research accounts for volume shipments and revenues generated from 2017 to 2027.This study presents an assessment of the current status and future prospects of building insulation materials used in Europe. Market segments comprise mineral wool insulation, plastic foam insulation, and others (e.g., aerogel, wood fibre, and perlite). Mineral wool insulation is further divided into glass wool and stone wool insulation. Moreover, the market for plastic foam insulation has been divided into expanded polystyrene, extruded polystyrene, and polyurethane/polyisocyanurate insulation. By application type, the market has been divided into residential and non-residential. The building construction sector is one of the largest consumers of energy resources in Europe and produces nearly 35% of all greenhouse gas emissions. Hence, most European countries are deeply engaged in developing or renovating buildings with increased sustainability and energy efficiency. Moreover, numerous legislative initiatives are being introduced to boost the energy performance of buildings across the region. These directives promote policies that would help local authorities and home owners achieve high energy-efficient and decarbonized building stock by 2050. Mineral wool and plastic foams are the two most commonly used insulation materials for buildings in Europe, offering excellent thermal properties and cost-effectiveness. Glass wool insulation accounted for the largest share, followed by expanded polystyrene in 2020; a similar trend is expected during the forecast period of 2021 to 2027. Glass wool is extremely cost-effective and used widely in the residential sector for its superb fire safety, good insulation properties, and compatibility with various structural products developed for thermal insulation. EPS, on the other hand, offers high thermal resistance, moisture protection, breathability, flexibility of use, and good recyclable content, making it widely preferred for external wall insulation. Although other materials including wood fiber, perlite, and aerogel offer outstanding insulation, their usage is currently limited due to high prices. Western Europe is the most important market for building insulation materials in Europe and is expected to witness high consumption of mineral wool and plastic foam insulation products for residential and non-residential buildings, in both new buildings and those under renovation. Majority of the demand is coming from Germany, France, Poland, the United Kingdom, Italy, and Spain. Eastern Europe, on the other hand, is likely to benefit from new residential markets in Poland, the Czech Republic, and Austria, where private sector investments are expected to increase greatly in the coming years and have a positive impact on the building insulation materials market. However, the construction industry in Europe is already at a mature stage and has been witnessing sluggish growth in the past few years. Moreover, the region started to show early signs of decline in construction activity from February 2020, caused by the COVID-19 pandemic. Thus, annual construction output across the region witnessed a decline of 10 to 15% in 2020, compared to 2019, which adversely affected demand for building insulation materials. While new construction will remain the most affected in Europe, renovation projects are expected to gain momentum in the short term, which will drive demand for subsequent building insulation materials. Key Topics Covered: 1. Strategic Imperatives Why Is It Increasingly Difficult to Grow?The Strategic ImperativeThe Impact of the Top Three Strategic Imperatives on the Building Insulation Materials IndustryGrowth Opportunities Fuel the Growth Pipeline Engine 2. Growth Opportunity Analysis, Building Insulation Materials Market Building Insulation Materials Market Overview and ScopeBuilding Insulation Materials Market SegmentationKey Competitors for Building Insulation Materials MarketKey Growth Metrics for Building Insulation Materials MarketGrowth Drivers for Building Insulation Materials MarketGrowth Driver Analysis for Building Insulation Materials MarketGrowth Restraint for Building Insulation Materials MarketGrowth Restraint Analysis for Building Insulation Materials MarketRevenue and Volume Shipment Forecast, Building Insulation Materials MarketRevenue and Volume Shipment Forecast Analysis, Building Insulation Materials MarketRevenue Forecast by Sub-region, Building Insulation Materials MarketRevenue Forecast Analysis by Sub-region, Building Insulation Materials MarketRevenue Forecast by Material, Building Insulation Materials MarketVolume Shipment Forecast by Material, Building Insulation Materials MarketRevenue and Volume Shipment Forecast Analysis by Material, Building Insulation Materials MarketRevenue Forecast by End Application, Building Insulation Materials MarketVolume Shipment Forecast by End Application, Building Insulation Materials MarketRevenue and Volume Shipment Forecast Analysis by End Application, Building Insulation Materials MarketPricing Trends and Forecast, Building Insulation Materials MarketPricing Trends and Forecast Analysis, Building Insulation Materials MarketValue Chain, Building Insulation Materials MarketValue Chain Analysis, Building Insulation Materials MarketCompetitive Environment, Building Insulation Materials MarketRevenue Share, Building Insulation Materials MarketRevenue Share Analysis, Building Insulation Materials Market 3. Growth Opportunity Universe, Building Insulation Materials Growth Opportunity 1: Investment in High-quality Building Insulation Materials, 2020Growth Opportunity 2: Optimizing Prices for Improved Market Penetration, 2020 For more information about this report visit https://www.researchandmarkets.com/r/stxapt CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Albion Venture Capital Trust PLC Total Voting Rights and Capital LEI Code 213800JKELS32V2OK421 In conformity with the provisions of Disclosure Guidance and Transparency Rule 5.6.1, Albion Venture Capital Trust PLC (the “Company”) would like to notify the market of the following: As at 26 February 2021, the issued share capital and voting rights of the Company are as follows: Class and nominal value of shareTotal number of shares in issueNumber of shares held in treasury (with no voting rights attached)Total number of shares in circulation with voting rights attachedNumber of voting rights attached to each shareOrdinary 1p shares116,549,52515,909,264100,640,2611 The above total voting rights figure may be used by shareholders or other persons as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. 26 February 2021 For further information please contact: Albion Capital Group LLPCompany SecretaryTel: 020 7601 1850
Apart from the Redmi K40 series, Xiaomi launched the new RedmiBook Pro 14 and RedmiBook Pro 15 models along with Redmi AirDots 3 earbuds during the event.
Parineeti Chopra has really invested herself in The Girl on the Train. A pity that she is derailed by dull writing and ordinary execution.
<p>New Delhi, Feb 26 (PTI) The Supreme Court Friday said it cannot allow sexual harassment cases to be “swept under the carpet” and asked a retired District Judge of Madhya Pradesh to face “in-house departmental inquiry” instituted by the high court on the allegations levelled against him by a junior woman judicial officer.</p>
Smerz: meet the Scandi-pop duo who can read each other's mindsThe Norwegian group are so close that they write songs from their bandmate’s perspective. ‘It feels like a secret diary,’ they say Songs of Norway … Smerz. Photograph: Ivar Kvaal
The star gets friends to repeat her lines to her.
ZUG, Switzerland, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Pharvaris (Nasdaq: PHVS), a clinical-stage company focused on the discovery and development of novel oral bradykinin-B2-receptor antagonists for the treatment of hereditary angioedema (HAE) and other bradykinin-B2-receptor-mediated indications, today announced dosing of the first patient in RAPIDe-1, an on-demand Phase 2 study evaluating the efficacy, safety, and pharmacokinetics of PHVS416 in patients with HAE due to C1-Inhibitor Deficiency type 1 and 2. “The initiation of this trial signifies another step towards developing an oral treatment for hereditary angioedema patients experiencing acute attacks,” said Berndt Modig, chief executive officer and co-founder of Pharvaris. “The importance of providing patients with treatment alternatives to injection cannot be overstated. We hope to confirm in HAE patients the compelling findings of our previous studies. This study will help to determine if our small-dosage oral softgel capsule provides safe, rapid, and convenient on-demand treatment of HAE attacks.” RAPIDe-1 is a Phase 2 study evaluating the efficacy and safety of orally administered PHVS416 for the acute treatment of attacks in patients with HAE type 1 or 2. The study aims to enroll 54 adults, ages 18 to 75, at centers in North America and Europe. Eligible patients are randomized to one of three single doses of active and placebo. The study will compare symptom relief (skin pain, skin swelling, abdominal pain) during HAE attacks and safety of each dose of PHVS416 with placebo. PHVS416 is a softgel capsule formulation containing PHA121, a highly potent, specific, and orally bioavailable competitive antagonist of the bradykinin B2 receptor. For more information on RAPIDe-1, please visit https://hae-rapide.com/ or https://clinicaltrials.gov/ct2/show/NCT04618211. About PHVS416PHVS416 is a softgel capsule formulation containing PHA121, a highly potent, specific, and orally bioavailable competitive antagonist of the bradykinin B2 receptor. Pharvaris is developing this formulation to provide rapid exposure of attack-mitigating medicine in a convenient, small oral dosage form. PHVS416 is currently in Phase 2 clinical development for the on-demand treatment of HAE. About PHA121PHA121 (PHA-022121) is a highly potent, specific, and orally bioavailable competitive antagonist of the bradykinin B2 receptor that has completed Phase 1 clinical development for the treatment of HAE. PHA121 utilizes the same mechanism as icatibant, the leading therapy for on-demand treatment of HAE. Pharvaris is developing this novel small molecule for on-demand and prophylactic treatment of HAE and other bradykinin-mediated diseases through formulations optimized for each setting. Data from single- and multiple-ascending-dose Phase 1 studies in healthy volunteers demonstrate rapid exposure and predictable linear pharmacokinetics at doses up to 50 mg. In a bradykinin-challenge study in healthy volunteers, PHA121 showed significant inhibition of bradykinin-induced hemodynamic changes with an average composite EC50 of 2.4 ng/mL and EC85 of 13.8 ng/mL, approximately four-fold more potent than historical data for icatibant. Quantitative modeling indicates that single oral doses of PHA121 will maintain pharmacologically active drug levels for a substantially longer time than 30 mg of subcutaneous icatibant. PHA121 has been observed to be well-tolerated at all doses studied to date. About HAEHereditary angioedema is a rare and potentially life-threatening genetic condition with symptoms that include episodes of debilitating and often painful swelling in the hands, feet, face (lips and tongue), gastrointestinal tract, urogenital region, or airways. Attacks are unpredictable in frequency, location, timing, and severity, with multiple types of triggers. According to scientific publications, patients experience a median of 14 attacks per year, and half of patients experience a potentially life-threatening airway attack at least once in their lifetime. Airway attacks are particularly dangerous and can lead to asphyxiation. If left untreated, attacks can last multiple days and are commonly painful, leading to multiple sick days and even hospitalization. According to HAE International (HAEi), the global umbrella organization for the world’s HAE patient groups, HAE affects from 1:50,000 to 1:10,000 individuals globally, or at least 6,600 patients in the U.S. and at least 8,900 patients in the EU. About PharvarisPharvaris is a clinical-stage company focused on bringing oral bradykinin-B2-receptor antagonists to patients. By targeting this clinically proven therapeutic target with novel small molecules, the Pharvaris team is advancing new alternatives to injected therapies for all sub-types of HAE and other bradykinin-mediated diseases. The company brings together executives with a breadth of expertise across pharmaceutical development and rare disorders, including HAE. For more information, visit https://pharvaris.com/. Forward-looking StatementsThis press release contains forward-looking statements. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. These forward-looking statements are based on management’s current expectations, are neither promises nor guarantees, and involve known and unknown risks, uncertainties and other important factors that may cause Pharvaris’ actual results, performance or achievements to be materially different from its expectations expressed or implied by the forward-looking statements. Such risks include but are not limited to the following: the expected timing, progress, or success of our clinical development programs, especially for PHVS416 and PHVS719, which are in early-stage clinical trials; risks associated with the COVID-19 pandemic, which may adversely impact our business, preclinical studies, and clinical trials; the timing of regulatory approvals; the value of our ordinary shares; the timing, costs and other limitations involved in obtaining regulatory approval for our product candidates PHVS416 and PHVS719, or any other product candidate that we may develop in the future; our ability to establish commercial capabilities or enter into agreements with third parties to market, sell, and distribute our product candidates; and, our ability to compete in the pharmaceutical industry and with competitive generic products. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While Pharvaris may elect to update such forward-looking statements at some point in the future, Pharvaris disclaims any obligation to do so, even if subsequent events cause its views to change. These forward-looking statements should not be relied upon as representing Pharvaris’ views as of any date subsequent to the date of this press release. Investor ContactChad Rubin, Solebury Troutcrubin@soleburytrout.com Media ContactMaggie Beller, Russo Partners, LLCmaggie.firstname.lastname@example.org +1-646-942-5631
Avania announced that it has successfully refinanced its existing banking facilities with Crescent Capital Group.
Fourth quarter net income attributable to Icahn Enterprises of $146 million, or $0.61 per depositary unitBoard approves quarterly distribution of $2.00 per depositary unit SUNNY ISLES BEACH, Fla., Feb. 26, 2021 (GLOBE NEWSWIRE) -- Icahn Enterprises L.P. (Nasdaq:IEP) is reporting fourth quarter 2020 revenues of $2.8 billion and net income attributable to Icahn Enterprises of $146 million, or $0.61 per depositary unit. For the three months ended December 31, 2019, revenues were $2.6 billion and net loss attributable to Icahn Enterprises was $157 million, or a loss of $0.74 per depositary unit, including a loss of $149 million from continuing operations, or a loss of $0.70 per depositary unit. For the three months ended December 31, 2020, Adjusted EBITDA attributable to Icahn Enterprises was $420 million compared to $111 million for the three months ended December 31, 2019. For the three months ended December 31, 2020, Adjusted EBIT attributable to Icahn Enterprises was $328 million compared to $22 million for the three months ended December 31, 2019. For the year ended December 31, 2020, revenues were $6.1 billion and net loss attributable to Icahn Enterprises was $1.7 billion, or a loss of $7.33 per depositary unit. For the year ended December 31, 2019, revenues were $9.0 billion and net loss attributable to Icahn Enterprises was $1.1 billion, or a loss of $5.38 per depositary unit, including a loss of $1.1 billion from continuing operations, or $5.23 per depositary unit. For the year ended December 31, 2020, Adjusted EBITDA attributable to Icahn Enterprises was $(738) million compared to $(462) million for the year ended December 31, 2019. For the year ended December 31, 2020, Adjusted EBIT attributable to Icahn Enterprises was $(1.1) billion compared to $(818) million for the year ended December 31, 2019. On February 24, 2021, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit, which will be paid on or about April 28, 2021 to depositary unitholders of record at the close of business on March 26, 2021. Depositary unitholders will have until April 16, 2021 to make an election to receive either cash or additional depositary units; if a holder does not make an election, it will automatically be deemed to have elected to receive the distribution in additional depositary units. Depositary unitholders who elect to receive (or are deemed to have elected to receive) additional depositary units will receive units valued at the volume weighted average trading price of the units on Nasdaq during the 5 consecutive trading days ending April 23, 2021. No fractional depositary units will be issued pursuant to the distribution payment. Icahn Enterprises will make a cash payment in lieu of issuing fractional depositary units to any holders electing to receive depositary units. Any holders that would only be eligible to receive a fraction of a depositary unit based on the above calculation will receive a cash payment. For distributions declared by the Board in prior quarters, the default election (for holders that did not make an election) was a cash distribution. The default election (for holders that do not make an election) for the distribution to be paid on or about April 28, 2021 will be a distribution paid in additional depository units, a change from prior quarters. Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in eight primary business segments: Investment, Energy, Automotive, Food Packaging, Metals, Real Estate, Home Fashion and Pharma. Caution Concerning Forward-Looking Statements Results for any interim period are not necessarily indicative of results for any full fiscal period. This release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Icahn Enterprises L.P. and its subsidiaries. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors, including risks related to economic downturns, substantial competition and rising operating costs; risks related to the severity, magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial markets and industries in which our subsidiaries operate; risks related to our investment activities, including the nature of the investments made by the private funds in which we invest, declines in the fair value of our investments as a result of the COVID-19 pandemic, losses in the private funds and loss of key employees; risks related to our ability to continue to conduct our activities in a manner so as to not be deemed an investment company under the Investment Company Act of 1940, as amended; risks related to our energy business, including the volatility and availability of crude oil, declines in global demand for crude oil, refined products and liquid transportation fuels as a result of the COVID-19 pandemic, other feed stocks and refined products, unfavorable refining margin (crack spread), interrupted access to pipelines, significant fluctuations in nitrogen fertilizer demand in the agricultural industry and seasonality of results; risks related to our automotive activities and exposure to adverse conditions in the automotive industry, including as a result of the COVID-19 pandemic; risks related to our food packaging activities, including competition from better capitalized competitors, inability of suppliers to timely deliver raw materials, and the failure to effectively respond to industry changes in casings technology; risks related to our scrap metals activities, including potential environmental exposure; risks related to our real estate activities, including the extent of any tenant bankruptcies and insolvencies; risks related to our home fashion operations, including changes in the availability and price of raw materials, and changes in transportation costs and delivery times; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. Past performance in our Investment segment is not indicative of future performance. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED) Three Months Ended December 31, Year Ended December 31, 2020 2019 2020 2019 (In millions, except per unit amounts)Revenues: Net sales $1,865 $2,351 $6,815 $9,722 Other revenues from operations 148 162 608 666 Net gain (loss) from investment activities 731 37 (1,421) (1,931)Interest and dividend income 34 73 169 265 (Loss) gain on disposition of assets, net (22) (3) (17) 253 Other (loss) income, net (4) 3 (31) 19 2,752 2,623 6,123 8,994 Expenses: Cost of goods sold 1,777 2,116 6,320 8,205 Other expenses from operations 119 109 487 528 Selling, general and administrative 302 349 1,191 1,375 Restructuring, net 2 3 10 18 Impairment 5 1 11 2 Interest expense 171 162 688 605 2,376 2,740 8,707 10,733 Income (loss) before income tax (expense) benefit 376 (117) (2,584) (1,739)Income tax (expense) benefit (2) (32) 116 (20)Income (loss) from continuing operations 374 (149) (2,468) (1,759)Loss from discontinued operations — (8) — (32)Net income (loss) 374 (157) (2,468) (1,791)Less: net income (loss) attributable to non-controlling interests 228 — (815) (693)Net income (loss) attributable to Icahn Enterprises $146 $(157) $(1,653) $(1,098) Net income (loss) attributable to Icahn Enterprises from: Continuing operations $146 $(149) $(1,653) $(1,066)Discontinued operations — (8) — (32) $146 $(157) $(1,653) $(1,098)Net income (loss) attributable to Icahn Enterprises allocated to: Limited partners $143 $(154) $(1,620) $(1,076)General partner 3 (3) (33) (22) $146 $(157) $(1,653) $(1,098) Basic and diluted income (loss) per LP unit: Continuing operations $0.61 $(0.70) $(7.33) $(5.23)Discontinued operations — (0.04) — (0.15)Basic and diluted income (loss) per LP unit $0.61 $(0.74) $(7.33) $(5.38)Basic and diluted weighted average LP units outstanding 233 208 221 200 Cash distributions declared per LP unit $2.00 $2.00 $8.00 $8.00 CONDENSED CONSOLIDATED BALANCE SHEETS(UNAUDITED) December 31, 2020 2019 (In millions)ASSETS Cash and cash equivalents $1,699 $3,794 Cash held at consolidated affiliated partnerships and restricted cash 1,592 1,151 Investments 8,913 9,945 Due from brokers 3,437 858 Accounts receivable, net 502 483 Inventories, net 1,580 1,795 Property, plant and equipment, net 4,228 4,454 Unrealized gain on derivative contracts 785 182 Goodwill 298 282 Intangible assets, net 660 431 Other assets 1,293 1,264 Total Assets $24,987 $24,639 LIABILITIES AND EQUITY Accounts payable $738 $945 Accrued expenses and other liabilities 1,586 1,453 Deferred tax liabilities 569 639 Unrealized loss on derivative contracts 639 1,224 Securities sold, not yet purchased, at fair value 2,521 1,190 Due to brokers 1,618 54 Debt 8,059 8,192 Total liabilities 15,730 13,697 Equity: Limited partners 4,235 6,268 General partner (853) (812)Equity attributable to Icahn Enterprises 3,382 5,456 Equity attributable to non-controlling interests 5,875 5,486 Total equity 9,257 10,942 Total Liabilities and Equity $24,987 $24,639 Use of Non-GAAP Financial Measures The Company uses certain non-GAAP financial measures in evaluating its performance. These include non-GAAP EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT. EBITDA represents earnings from continuing operations before interest expense, income tax (benefit) expense and depreciation and amortization. EBIT represents earnings from continuing operations before interest expense and income tax (benefit) expense. We define Adjusted EBITDA and Adjusted EBIT as EBITDA and EBIT, respectively, excluding certain effects of impairment, restructuring costs, certain pension plan expenses, gains/losses on disposition of assets, gains/losses on extinguishment of debt, major scheduled turnaround expenses, certain tax settlements and certain other non-operational charges. We present EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT on a consolidated basis and on a basis attributable to Icahn Enterprises net of the effects of non-controlling interests. We conduct substantially all of our operations through subsidiaries. The operating results of our subsidiaries may not be sufficient to make distributions to us. In addition, our subsidiaries are not obligated to make funds available to us for payment of our indebtedness, payment of distributions on our depositary units or otherwise, and distributions and intercompany transfers from our subsidiaries to us may be restricted by applicable law or covenants contained in debt agreements and other agreements to which these subsidiaries currently may be subject or into which they may enter into in the future. The terms of any borrowings of our subsidiaries or other entities in which we own equity may restrict dividends, distributions or loans to us. We believe that providing EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT to investors has economic substance as these measures provide important supplemental information of our performance to investors and permits investors and management to evaluate the core operating performance of our business without regard to interest, taxes and depreciation and amortization and certain effects of impairment, restructuring costs, certain pension plan expenses, gains/losses on disposition of assets, gains/losses on extinguishment of debt, major scheduled turnaround expenses, certain tax settlements and certain other non-operational charges. Additionally, we believe this information is frequently used by securities analysts, investors and other interested parties in the evaluation of companies that have issued debt. Management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing our operating results, as well as in planning, forecasting and analyzing future periods. Adjusting earnings for these charges allows investors to evaluate our performance from period to period, as well as our peers, without the effects of certain items that may vary depending on accounting methods and the book value of assets. Additionally, EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT present meaningful measures of performance exclusive of our capital structure and the method by which assets were acquired and financed. EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT have limitations as analytical tools, and you should not consider them in isolation, or as substitutes for analysis of our results as reported under generally accepted accounting principles in the United States, or U.S. GAAP. For example, EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT: do not reflect our cash expenditures, or future requirements for capital expenditures, or contractual commitments;do not reflect changes in, or cash requirements for, our working capital needs; anddo not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments on our debt. Although depreciation and amortization are non-cash charges, the assets being depreciated or amortized often will have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Other companies in the industries in which we operate may calculate EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT differently than we do, limiting their usefulness as comparative measures. In addition, EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations. EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT are not measurements of our financial performance under U.S. GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with U.S. GAAP or as alternatives to cash flow from operating activities as a measure of our liquidity. Given these limitations, we rely primarily on our U.S. GAAP results and use EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT only as a supplemental measure of our financial performance. Use of Indicative Net Asset Value Data The Company uses indicative net asset value as an additional method for considering the value of the Company’s assets, and we believe that this information can be helpful to investors. Please note, however, that the indicative net asset value does not represent the market price at which the depositary units trade. Accordingly, data regarding indicative net asset value is of limited use and should not be considered in isolation. The Company's depositary units are not redeemable, which means that investors have no right or ability to obtain from the Company the indicative net asset value of units that they own. Units may be bought and sold on The Nasdaq Global Select Market at prevailing market prices. Those prices may be higher or lower than the indicative net asset value of the depositary units as calculated by management. See below for more information on how we calculate the Company’s indicative net asset value. December 31, December 31, 2020 2019 (In millions)(Unaudited)Market-valued Subsidiaries and Investments: Holding Company interest in Investment Funds(1)$4,283 $4,296 CVR Energy(2) 1,061 2,879 Tenneco(2) 292 386 Total market-valued subsidiaries and investments$ 5,636 $ 7,561 Other Subsidiaries: Viskase(3)$285 $84 Real Estate Holdings(1) 440 474 PSC Metals(1) 128 156 WestPoint Home(1) 141 147 Vivus(1) 262 - Icahn Automotive Group(1) 1,554 1,750 Total other subsidiaries$ 2,810 $ 2,611 Add: Other Holding Company net assets(4) (12) 186 Indicative Gross Asset Value$ 8,434 $ 10,358 Add: Holding Company cash and cash equivalents(4) 925 3,006 Less: Holding Company debt(4) (5,811) (6,297)Indicative Net Asset Value$ 3,548 $ 7,067 Indicative net asset value does not purport to reflect a valuation of IEP. The calculated Indicative net asset value does not include any value for our Investment Segment other than the fair market value of our investment in the Investment Funds. A valuation is a subjective exercise and Indicative net asset value does not necessarily consider all elements or consider in the adequate proportion the elements that could affect the valuation of IEP. Investors may reasonably differ on what such elements are and their impact on IEP. No representation or assurance, expressed or implied is made as to the accuracy and correctness of indicative net asset value as of these dates or with respect to any future indicative or prospective results which may vary. (1) Represents equity attributable to us as of each respective date.(2) Based on closing share price on each date (or if such date was not a trading day, the immediately preceding trading day) and the number of shares owned by the Holding Company as of each respective date.(3) Amounts based on market comparables due to lack of material trading volume, valued at 9.0x Adjusted EBITDA for the twelve months ended December 31, 2020 and December 31, 2019.(4) Holding Company’s balance as of each respective date. Three Months Ended December 31, Year Ended December 31, 2020 2019 2020 2019 (In millions)(Unaudited)Adjusted EBITDA Net income (loss)$374 ($149) ($2,468) ($1,759)Interest expense, net 169 150 670 545 Income tax expense (benefit) 2 32 (116) 20 Depreciation, depletion and amortization 131 130 510 519 EBITDA before non-controlling interests 676 163 (1,404) (675)Impairment of assets 5 1 11 2 Restructuring costs 2 3 10 18 Non-service cost of U.S. based pension - - - 2 (Gain) loss on disposition of assets, net 17 2 10 (249)Other 26 22 119 59 Adjusted EBITDA before non-controlling interests$726 $191 ($1,254) ($843) Adjusted EBITDA attributable to IEP Net income (loss)$146 ($149) ($1,653) ($1,066)Interest expense, net 124 114 499 428 Income tax expense (benefit) 9 28 (80) (7)Depreciation, depletion and amortization 92 89 352 356 EBITDA attributable to IEP 371 82 (882) (289)Impairment of assets 5 1 11 2 Restructuring costs 2 3 10 16 Non-service cost of U.S. based pension - - - 2 (Gain) loss on disposition of assets, net 17 2 10 (249)Other 25 23 113 56 Adjusted EBITDA attributable to IEP$420 $111 ($738) ($462) Three Months Ended December 31, Year Ended December 31, 2020 2019 2020 2019 (In millions)(Unaudited)Adjusted EBIT Net income (loss)$374 ($149) ($2,468) ($1,759)Interest expense, net 169 150 670 545 Income tax expense (benefit) 2 32 (116) 20 EBIT before non-controlling interests 545 33 (1,914) (1,194)Impairment of assets 5 1 11 2 Restructuring costs 2 3 10 18 Non-service cost of U.S. based pension - - - 2 (Gain) loss on disposition of assets, net 17 2 10 (249)Other 26 22 119 59 Adjusted EBIT before non-controlling interests$595 $61 ($1,764) ($1,362) Adjusted EBIT attributable to IEP Net income (loss)$146 ($149) ($1,653) ($1,066)Interest expense, net 124 114 499 428 Income tax expense (benefit) 9 28 (80) (7)EBIT attributable to IEP 279 (7) (1,234) (645)Impairment of assets 5 1 11 2 Restructuring costs 2 3 10 16 Non-service cost of U.S. based pension - - - 2 (Gain) loss on disposition of assets, net 17 2 10 (249)Other 25 23 113 56 Adjusted EBIT attributable to IEP$328 $22 ($1,090) ($818) Investor Contacts:SungHwan Cho, Chief Financial Officer(305) 422-4000
DUNMORE, Pa., Feb. 26, 2021 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) (“Fidelity”), the parent bank holding company of The Fidelity Deposit and Discount Bank (“Fidelity Bank”), a Pennsylvania state-chartered, FDIC insured bank and trust company headquartered in Dunmore, PA, announced today the execution of a definitive agreement whereby Landmark Bancorp, Inc. (OTCPink: LDKB) (“Landmark”) will be merged with and into a Fidelity acquisition subsidiary and, as soon as possible thereafter, Landmark Community Bank, Landmark’s wholly-owned subsidiary bank, will merge with and into Fidelity Bank. One director from Landmark will join the boards of Fidelity and Fidelity Bank, respectively. Daniel J. Santaniello, Fidelity President and Chief Executive Officer, stated, “We are excited to welcome Landmark’s clients, shareholders, and bankers to the Fidelity family. Since its founding, Landmark has demonstrated methodical growth and developed a solid reputation in the community. The addition of Landmark provides continued momentum in the execution on our strategic plan and reinforces our position of strength in the local market. We believe that Landmark clients will benefit from the Fidelity Bank relationship banking model focusing on providing trusted financial advice that will enhance the product and service offerings to our combined customers.” Based on the financial results as of December 31, 2020, the combined company would have pro forma total assets of approximately $2.05 billion, total deposits of approximately $1.8 billion, and loans of approximately $1.4 billion. Once the merger is complete, Fidelity will have 25 retail community banking offices in Northeast and Eastern Pennsylvania, offering a complete range of consumer and business products, including wealth management. Its Customer Care Center is open 7 days a week for the convenience of its clients. Additionally, Fidelity Bank offers the ability for its clients to apply for consumer deposits, real estate loans, and personal loans through its robust online application processes. Landmark shareholders will receive 0.272 shares of Fidelity common stock and $3.26 in cash for each share of Landmark common stock that they own as of the closing date. Based on Fidelity’s 10-day average closing price at February 25, 2021 of $55.00, the transaction is valued at $43.4 million or $18.22 per share. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes. As of December 31, 2020, Landmark had total assets of $354 million, total deposits of $287 million and total loans of $280 million. Speaking on behalf of Landmark, Santo A. Insalaco, Chairman of the Board, said, “Partnering with Fidelity reflects our long-term commitment to the local community and our customers. We believe our customers will benefit from the trusted, well-respected and experienced community bankers at Fidelity, and we look forward to working together.” The transaction has been unanimously approved by the boards of directors of both companies. It is subject to Landmark shareholder approval, regulatory approvals and other customary closing conditions. Currently, the transaction is expected to close early in the third quarter of 2021. Bybel Rutledge LLP is serving as legal counsel, Commonwealth Advisors, Inc. is serving as financial advisor and Janney Montgomery Scott LLC provided a fairness opinion to Fidelity D & D Bancorp, Inc. Pillar Aught LLC is serving as legal counsel and PNC FIG Advisory, part of PNC Capital Markets, LLC is serving as financial advisor to Landmark Bancorp, Inc. About Fidelity D & D Bancorp, Inc. Fidelity D & D Bancorp, Inc. and its wholly owned subsidiary, The Fidelity Deposit and Discount Bank have built a strong history as trusted financial advisors to the clients served by Fidelity Bank, which has built a strong history as a locally owned and operated community bank. Serving the individuals, families, and businesses for over 118 years within Lackawanna and Luzerne Counties and the Lehigh Valley, there are 20 branch offices along with Fidelity Bank Wealth Management offices in Schuylkill County. A full-service, 24-hour, 7 day a week Customer Care Center serves as a virtual branch, accepting and assisting those clients who prefer to open accounts and transact business via telephone, chat or online. Additionally, Fidelity Bank offers full-service Trust & Investment Departments, a Mortgage Center, and an array of personal and business banking products and services. Fidelity Bank has been recognized nationally for its sound financial performance, and superior customer experience. It has been identified as one of the Top 200 Community Banks in the country by American Banker for six years in a row, and Forbes ranked it one of the Best In-State Banks for the past two years. The company has been the #1 mortgage lender in the Lackawanna County market for over 8 years. Fidelity Bank is passionate about success and committed to building strong relationships through superior service. Fidelity Bank's deposits are insured by the Federal Deposit Insurance Corporation up to the full extent permitted by law. About Landmark Bancorp, Inc. Landmark Bancorp, Inc. is a one-bank holding company organized under the laws of the Commonwealth of Pennsylvania and is headquartered in Pittston, PA. Its wholly-owned subsidiary, Landmark Community Bank, is an independent community bank chartered under the laws of the Commonwealth of Pennsylvania. Landmark Community Bank conducts full-service commercial banking services through five bank centers located in Luzerne and Lackawanna Counties, PA. Caution Regarding Forward-Looking Statements The information presented herein contains forward-looking statements. These forward-looking statements include, but are not limited to, statements about (i) the benefits of the proposed merger between Fidelity and Landmark, (ii) Fidelity’s and Landmark’s plans, obligations, expectations and intentions, and (iii) other statements presented herein that are not historical facts. Words such as “anticipates”, “believes”, “intends”, “should”, “expects”, “will” and variations of similar expressions are intended to identify forward-looking statements. These statements are based on the beliefs of the respective managements of Fidelity and Landmark as to the expected outcome of future events and are not guarantees of future performance. These statements involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, and degree of occurrence. Results and outcomes may differ materially from what may be expressed or forecasted in forward-looking statements. Factors that could cause results and outcomes to differ materially include, among others, the ability to obtain required regulatory and shareholder approvals and meet other closing conditions to the transaction; the ability to complete the merger as expected and within the expected timeframe; disruptions to customer and employee relationships and business operations caused by the merger; the ability to implement integration plans associated with the transaction, which integration may be more difficult, time-consuming or costly than expected; the ability to achieve the cost savings and synergies contemplated by the merger within the expected timeframe, or at all; changes in local and national economies, or market conditions; changes in interest rates; regulations and accounting principles; changes in policies or guidelines; loan demand and asset quality, including real estate values and collateral values; deposit flow; the impact of competition from traditional or new sources; and, the other factors detailed in Fidelity’s publicly filed documents, including its Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent filings with the SEC. Fidelity and Landmark assume no obligation to revise, update or clarify forward-looking statements to reflect events or conditions after the date hereof. No Offer or Solicitation The information presented herein does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Additional Information about the Merger and Where to Find It In connection with the proposed merger, Fidelity will file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 with respect to the offering of Fidelity common stock as the merger consideration under the Securities Act of 1933, as amended, which will include a proxy statement of Landmark and a prospectus of Fidelity. A definitive proxy statement/prospectus will be sent to the shareholders of Landmark seeking the required shareholder approval. Before making any voting or investment decision, investors and security holders are urged to read the registration statement and proxy statement/prospectus and other relevant documents when they become available because they will contain important information about Fidelity, Landmark, and the merger. Investors and security holders will be able to obtain free copies of these documents through the website maintained by the SEC at http://www.sec.gov. Investors and security holders may also obtain free copies of these documents by directing a request by telephone or mail to Fidelity D & D Bancorp, Inc., Blakely and Drinker Streets, Dunmore, PA 18512; 570-342-8281, or by directing a request by telephone or mail to Landmark Bancorp, Inc., 2 South Main Street, Pittston, PA 18640; 570-602-4522. Landmark and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Landmark in connection with the merger. Information about the directors and executive officers of Landmark and their ownership of Landmark common stock may be obtained by reading the proxy statement/prospectus regarding the merger when it becomes available. Additional information regarding the interests of these participants and other persons who may be deemed participants in the merger may be obtained by reading the proxy statement/prospectus regarding the merger when it becomes available. Contact:Daniel J. SantanielloSanto A. Insalaco President and CEOChairman of the Board Fidelity D & D Bancorp, Inc.Landmark Bancorp, Inc. 570-504-8035570-602-4522
Rally continues to build C-Suite depth with the addition of Nili T. Moghaddam, a veteran fintech startup lawyer.
Electronics Repair Business Keep Brockton Community Connected uBreakiFix Brockton Electronics repair shop uBreakiFix is now open in Brockton at 1285 Belmont St., Suite 13. The store offers repairs on smartphones, tablets, computers, and more to help Brockton and the surrounding communities stay connected. BROCKTON, Mass., Feb. 26, 2021 (GLOBE NEWSWIRE) -- Electronics repair shop uBreakiFix is now open in Brockton at 1285 Belmont St., Suite 13. The store offers repairs on smartphones, tablets, computers, and more to help Brockton and the surrounding communities stay connected. At uBreakiFix Brockton, most basic repairs can be completed in under two hours, making tech repairs convenient and efficient for all customers. “At uBreakiFix, we understand how important our devices are, and more importantly, we know how frustrating it can be when they break,” said Ryan Sisserson of uBreakiFix Brockton. “That’s why we’re a customer-oriented business, striving to make the process of device repair as painless and convenient as possible. Now more than ever, we want to bridge the gap between a broken device and the ability to work, attend school, and connect with loved ones virtually.” While common devices include smartphones, tablets, and computers, uBreakiFix offers repair service on anything with a power button, including drones, hoverboards, game consoles, and everything in between. The store offers support for most technical problems on any electronic device, regardless of make or model. uBreakiFix was founded in 2009 by millennial entrepreneurs Justin Wetherill and David Reiff to fill a gap in the market for affordable, high-quality phone repair. The duo soon partnered with Eddie Trujillo to transition their Internet-based repair brand to a brick-and-mortar model. uBreakiFix began franchising in 2013 and currently operates more than 600 locations across the U.S. and Canada. “At uBreakiFix, our story has been shaped by an unwavering commitment to continually improving the repair experience for customers,” Wetherill said. “We founded this company to fill a need for high-quality, convenient repair with great service at a fair price. We always say we’re a customer service company first, and a tech company second. As we begin serving Brockton and the surrounding communities, we look forward to sharing the care and credibility that define the uBreakiFix experience.” For more information and to view a service menu, visit ubreakifix.com/locations/brockton. uBreakiFix Brockton is located at: uBreakiFix 1285 Belmont St #13, Brockton, MA 02301(508) 857-4594 About uBreakiFixFounded in 2009, uBreakiFix specializes in the repair of small electronics, ranging from smartphones, game consoles, tablets, computers, and everything in between. Cracked screens, software issues, camera issues, and most other problems can be repaired by visiting uBreakiFix stores across the U.S. and Canada. Since 2016, uBreakiFix has served as the exclusive walk-in repair partner for Google Pixel customers. In 2018, uBreakiFix became a Samsung Care authorized service provider offering same-day, in-person support for Samsung Galaxy customers across the U.S. In 2019, uBreakiFix joined the Asurion family and now operates as a subsidiary of the tech care company while still maintaining the uBreakiFix leadership team and franchise model. For more information, visit ubreakifix.com. For more information, contact:Ellie Holt(229) email@example.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10ce7264-e63d-47ee-9471-58e55a9dbc2a
Jefferies will donate 100% of net global trading commissions today, February 26, for all trading in equities, fixed income and foreign exchange by the firm’s clients. In addition, Jefferies as a firm will donate $1 million directly, and all 3,922 employees worldwide will be given the opportunity to personally donate to these efforts. These contributions will be allocated to a broad array of qualified charities dedicated to these important initiatives.
‘Out of the Closet’ Thrift Store Opens in Orlando to Address Orlando’s HIV/AIDS Epidemic
Financial technology leader FIS® (NYSE: FIS) has received two awards for its wealth management solutions and services at the 2021 Private Asset Management (PAM) Awards by Fund Intelligence.
SOUTH JORDAN, Utah, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Health Catalyst, Inc. ("Health Catalyst", Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today announced that Bryan Hunt, CFO and Adam Brown, SVP of Investor Relations and FP&A, will participate in the following upcoming investor conferences: Raymond James & Associates’ 42nd Annual Institutional Investors Conference on Wednesday, March 3, 2021, which will include a fireside chat presentation at 12:30 p.m. EST. An audio-only recording will be available at https://ir.healthcatalyst.com/investor-relations.2021 Truist Securities Technology, Internet & Services Conference on Tuesday, March 9, 2021. About Health Catalyst Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform—powered by data from more than 100 million patient records and encompassing trillions of facts—as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed. Health Catalyst Investor Relations Contact: Adam BrownSenior Vice President, Investor Relations and FP&A+1 (855)-firstname.lastname@example.org Health Catalyst Media Contact: Amanda Hundtamanda.email@example.com+1 (575) 491-0974
Energy Focus, Inc. (NASDAQ:EFOI), a leader in sustainable and human-centric lighting ("HCL") LED and control technologies, is officially approved as a Lighting Solution Technology vendor for Dalkia, a subsidiary of EDF Group. The full range of Energy Focus’ LED lighting and control products will now be offered for Dalkia’s building energy retrofit projects.