Descartes Systems: Fiscal Q1 Earnings Snapshot
The Waterloo, Ontario-based company said it had net income of 41 cents per share.
The logistics provider posted revenue of $168.7 million in the period.
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Hamilton Spectator
2 hours ago
- Hamilton Spectator
With Columbia as a model, White House seeks fines in potential deals with Harvard and others
WASHINGTON (AP) — The White House is pursuing heavy fines from Harvard and other universities as part of potential settlements to end investigations into campus antisemitism, using the deal it struck with Columbia University as a template, according to an administration official familiar with the matter. Fines have become a staple of proposed deals in talks with Harvard and other schools, according to the official, who spoke on the condition of anonymity to discuss internal deliberations. The new strategy was first reported by The Wall Street Journal. Federal civil rights investigations into schools and universities almost always have been resolved through voluntary settlements, yet they rarely include financial penalties. The Biden administration reached dozens of such deals with universities and none included fines. Columbia's settlement with the Trump administration included a $200 million fine in exchange for regaining access to federal funding and closing investigations accusing Columbia of tolerating harassment of Jewish students and employees. The agreement announced Wednesday also orders Columbia to ensure its admissions and hiring decisions are 'merit-based' with no consideration of race, to hire more Jewish studies faculty, and to reduce the university's reliance on international students, among other changes. It places Columbia under the watch of an independent monitor and requires regular disclosures to the government. The agreement deal includes a clause forbidding the government from directly dictating decisions on hiring, admissions or academics. Columbia leaders said it preserves the university's autonomy while restoring the flow of federal money. The Trump administration is investigating dozens of universities over allegations that they failed to address campus antisemitism amid the Israel-Hamas war, and several institutions have faced federal funding freezes, like those at Columbia and Harvard. The federal government has frozen more than $1 billion at Cornell University, along with $790 million at Northwestern University. In announcing the Columbia settlement, administration officials described it as a template for other universities. Education Secretary Linda McMahon called it a 'roadmap' for colleges looking to regain public trust, saying it would 'ripple across the higher education sector and change the course of campus culture for years to come.' As Trump departed the White House on Friday, he told reporters that Harvard 'wants to settle' but that Columbia 'handled it better.' The president said he's optimistic his administration will prevail in Harvard's legal challenge — at least on appeal — and he suggested Harvard may never regain the level of federal funding it received in the past. 'The bottom line is we're not going to give any more money to Harvard,' he said. 'We want to spread the wealth.' ___ The Associated Press' education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Business Journals
4 hours ago
- Business Journals
Building a greener, smarter future
San Leandro's Gate510 campus has quickly become a hub for companies shaping the future of multiple industries. Air Protein, Coreshell and Lyten are among the innovators leveraging the infrastructure and support for makers in San Leandro. Read on to discover how they're redefining what's possible. AIR PROTEIN NASA-inspired research drives sustainable food production A food production facility that once made such American breakfast innovations as Eggo Waffles and Pop-Tarts is aiming to change the way we eat once again, this time with a sustainable twist. Air Protein opened its first Air Protein Farm on San Leandro's Gate510 campus in 2023, where it does just what its name suggests: make high-quality protein out of particles in the air. Co-founders Lisa Dyson and John Reed were inspired by research from the early days of NASA, which explored ways astronauts could produce food on long space journeys. They built on that work, creating a method for growing protein in cultures, similar to the production of yogurt, cheese, and wine. The result is a neutral-tasting protein flour that can be turned into or used in any food. 'We and our investors believe we've cracked the code on making functional ingredients that have a great cost profile,' Dyson said. 'Many companies are also looking for ingredients that are resource-efficient, and that's what we do. We help CPG [Consumer Packaged Goods] companies make great products for consumers.' In choosing San Leandro, Air Protein put the company's headquarters in a location with a history of food manufacturing. Dyson said the Air Protein project team and the landlord worked closely with the City throughout the process to obtain the necessary permits for building out the facility. 'With this particular site and location, there is fermentation happening with other companies around us,' Dyson said. These include 21st Amendment Brewery and Drake's Brewing. 'That made this more appealing than some other options.' The San Leandro Air Protein Farm produces samples of its protein in large enough quantities for food product companies to use in their product development. Next up will be a larger commercial facility to support full-scale use of Air Protein in food for grocery shelves. 'That's the most exciting thing about 2025,' Dyson said. 'We're turning the science innovation that NASA started in the 1960s and 1970s, completing the mission and making it a reality.' LYTEN San Leandro lands new battery cell production facility Every once in a while, an opportunity comes along that is just too good to pass up. That's what happened to Lyten, a San Jose-based company specializing in supermaterial applications, which focuses on commercializing lithium-sulfur batteries as a high-performance, low-cost alternative to lithium-ion technology. The company was in the process of planning a gigafactory in Nevada and thinking about its next major production facility outside California when the perfect location popped up in San Leandro, said Chief Battery Technology Officer Celina Mikolajczak. A lithium-metal battery maker had closed, leaving behind a manufacturing space and equipment that was immediately of interest. Lyten snapped up the equipment and 119,000-square-foot lease at Gate510 that November. Mikolajczak expects to have a 100-megawatt-hour production line in San Leandro up and running in 2026. 'We were planning and tooling for a big factory, and then the opportunity to take over the lease in San Leandro occurred,' she said. 'We said, 'Wow, that's a big enough space. There's enough dry room capability there. There's enough power. We could get one high-volume production line running there and learn a hell of a lot and get a jump on being ready for a bigger factory.' Lyten's San Leandro site will deliver lithium-sulfur battery cells for multiple types of energy storage customers, including defense and drone applications. In doing so, the company will help U.S. manufacturers keep more of their supply chain close to home. 'With lithium-sulfur, we can develop the technology and commercialize it in the U.S. and be part of creating the next wave of manufacturing in this country,' Mikolajczak said. CORESHELL New battery anodes boost domestic supply chain Batteries have quickly become a crucial component in efforts to transition from fossil fuels to sustainable forms of energy. But the batteries most widely used in electric vehicles and other key applications today come with limitations. San Leandro-based Coreshell is one of the innovators working to change this. The company has developed a battery anode that uses 100% domestically sourced metallurgical silicon instead of graphite, allowing it to store significantly more energy without relying on a risky supply chain. 'We're replacing something that is produced only in China with silicon that is produced widely here in the United States and in Europe,' said Co-founder and CEO Jonathan Tan. 'It can be even more cost-effective.' Founded in 2017, Coreshell relocated its development work to the Gate510 campus in 2020 and opted to remain in the city when it was time to expand into the first stages of production in 2024. It moved across the street to another building on the Gate510 campus, where a team of approximately 50 people has a four megawatt-hour pilot production facility that produces its first battery cells ready for commercialization in electric vehicles. 'We're proposing a foundational change in battery chemistry by replacing graphite — one of the largest single materials in a battery — with silicon,' Tan said. 'It is imperative that we show the market how that will help people power their daily lives.' San Leandro was ideal because it offered a combination of the necessary infrastructure — including access to the heavy power Coreshell needs for manufacturing — and efficient permitting and other City support, Tan said. A San Leandro headquarters also gives Coreshell access to a strong talent pipeline from throughout the Bay Area's growing battery expertise. San Leandro Mayor Juan Gonzalez, and members of the City staff visited with Coreshell this spring. It was an opportunity for Tan and his team to share more about their work and talk about how the City can support the company's future growth. 'To have a receptive audience with the Mayor, the City Manager's office and others in San Leandro, it shows that they are invested in helping companies like Coreshell grow and be successful,' Tan said. 'We value that partnership and how they are actively working to find ways to support the success and growth of companies like ours.'
Yahoo
5 hours ago
- Yahoo
Montreal over Miami: Patriotic Canadians change summer vacation plans
Montreal over Miami: Patriotic Canadians change summer vacation plans (Corrects to say "northern regions" for Yukon and Northwest Territories in paragraph 20, not "northern provinces") By Nivedita Balu TORONTO (Reuters) -Canadians are trading their annual vacation south of the border for road trips around Ottawa, the midnight sun in Yukon, whale watching in Nova Scotia or hiking in Banff. The newfound desire to stay local started earlier this year when U.S. President Donald Trump threatened to annex Canada and imposed a series of tariffs on Canadian goods, spurring a 'Buy Canadian' movement to boycott U.S. businesses and avoid traveling to the U.S. London, Ontario-based Guess Where Trips sells curated mystery road trip packages in four Canadian provinces and reported a 75% increase in sales of trips across the country so far this year from a year ago. "It is clear that more Canadians are choosing to explore small businesses and hidden gems close to home, rather than crossing the border for their holidays and vacations," operations manager Jessica Bax said. Road trips around Ottawa are among their most popular packages, Bax said, as more Canadians explore their capital city. Prime Minister Mark Carney has also made a pitch for Canadians to take advantage of a new "Canada Strong" pass that grants free or discounted access to several national parks, historic sites and museums this summer. "Canadians are making choices to visit this great country, spend time here with their family, with their friends. They're making choices to buy Canadian products," he said in a press briefing in Huntsville, Ontario on Tuesday. The discount pass contrasts with Trump ordering higher entrance fees at U.S. national parks for visitors from other countries. A Bank of Canada survey this week showed that 55% of Canadians plan to spend less money vacationing in the United States this year while 35% said they would spend more on traveling within Canada. A survey by TD Bank showed 64% of Canadians polled planned to travel within the country, mirroring an increase in domestic flight bookings. Canadian domestic tourism spending rose 4% in the first quarter this year from a year earlier, said Destination Canada, a government agency that promotes Canadian tourism. The number of flight return trips from the United States made by Canadians fell 17% in May from a year earlier, while the number of such trips made by car fell by 37% that month, according to Statistics Canada. Walter Flower, who operates whale watching tours in Lunenburg, Nova Scotia, said he has been busier this year as more people exploring the UNESCO World Heritage town booked a 45-minute ocean adventure hoping to spot whales off the east coast. Divya Mohan, a communications specialist in Toronto, says she had initially planned to go to Texas this year but instead opted to explore the city of Winnipeg in Manitoba. "It just felt like the timing wasn't right... may be in the future," Mohan, 39, said of her trip in April. "Winnipeg is just one more destination in Canada to explore," Mohan said, coming away impressed with the Canadian Museum for Human Rights. On the west coast in British Columbia, RVs have gained popularity, said Storm Jespersen, a regional manager at family-owned tourism firm Evergreen Hospitality Group. "This year is going to be the busiest year in our company's history across our 26 properties... it's so busy, I don't think you can even rent one (RV) very easily right now," said Jespersen. WORTH THE BUCK Traveling in Canada can be expensive as domestic flights to remote locations often cost more than traveling to the United States or even Europe. But travelers have found ways to do it cheaper - through road trips or by hunting for discounts. "Doing road trips or just weekend trips to a cabin nearby is a great way to switch things up without spending thousands of dollars to fly a family of four across the country and back," said Vancouver-based marketing executive Kramer Solinsky. On his list this year, Solinsky plans to visit Montreal and the east coast for the first time and is traveling to Mexico City and Osaka in Japan instead of other sun-soaked options like Florida and California. To make some remote regions in northern Canada more accessible, Air North - the airline for the northern regions of Yukon and Northwest Territories - added more capacity and non-stop routes for the summer, betting on higher demand from what it said was "clear and growing interest among Canadians in exploring more of their own country" Air North said arrivals to Yukon rose 7.6% from January to June this year and the airline continues to see growth in demand for flights to northern Canada. Other Canadian carriers have reported similar trends: Porter Airlines increased its summer network capacity to domestic travel to 80% from 75%, while peer WestJet in May suspended nine routes between Canada and the United States citing lower demand.
