Latest news with #395
TimesLIVE
14-07-2025
- Automotive
- TimesLIVE
Trump's copper tariffs pile more metal misery on US car industry
Suppliers pass on some costs After a chaotic week in the copper market, suppliers to carmakers have asked their customers to pay more for their product because they cannot afford the additional costs, experts said. A source at a major car supplier in the US market said the company had seen "meaningful" impact from elevated copper, aluminium and steel prices. This creates commercial friction and structural cost gaps, said the source, who spoke on condition of anonymity because they were not authorised to discuss the issue publicly. Even before a tariff takes effect, users are paying more for their US copper. Takashi Imamura, an executive officer at Japanese trading house Marubeni said a copper tariff would mean higher costs for US consumers. "When they (the US government) reconsider the damage, my final expectation is they will reduce or eliminate the tariffs," Imamura said. Parts suppliers are feeling the squeeze. Melanie White, president of suspension parts maker Hellwig Products, said steel prices have quadrupled since 2018. Steel tariffs have caused a rush to source from US providers, making it harder to secure supplies. White said the roughly 50-person business has cut costs by putting off equipment purchases or not rehiring for some vacant positions. "It has affected a lot of things," she said. Costas Benchmark's De Jonge said at pre-tariff rates, steel, aluminium and copper accounted for around 5% of a vehicle's production costs in the US. With tariffs, that rises to up to 9%, he said. Based on estimates from Cox Automotive and Benchmark Mineral Intelligence on tariffs in place combined with the planned copper rates, the US car industry would pay on average minimum duty of $1,700 (R30,538) for every car made in the US and $3,500 (R62,873) per car imported from Canada and Mexico that complies with the USMCA trade deal. It would be as much as $5,700 (R102,395) for every car imported from elsewhere. The numbers add up fast in a low-margin industry where the average US new vehicle selling price in June hit $46,233 (R830,538), according to consultancy JD Power. Consultancy CRU Group estimated the average combustion-engine or hybrid car requires about 24kg of copper, while the average fully-electric car needs around 59kg. Dan Hearsch, global co-leader for automotive and industrials at consultancy AlixPartners, said supplier agreements tend to be indexed to copper prices and revised every few months. However, the spike in copper prices last week has forced car suppliers to go to customers and "we need to talk about this on top of all our other tariff conversations'," Hearsch said. Some in the industry remain skeptical the copper tariff will be implemented. Trump has a history of delaying or walking back tariff threats. Andy Leyland, co-founder of supply chain specialist SC Insights, said a copper tariff would likely be short-lived because higher inflation caused by border taxes will collide with the reality of the US political calendar. where midterm elections will be held in November 2026. "Most Americans don't give a damn about foreign policy," Leyland said.
Hindustan Times
11-07-2025
- Politics
- Hindustan Times
Kumbh-like vigil, real-time monitoring in place for Kanwar Yatra
LUCKNOW A multi-layered security and surveillance grid has been put in place for the Kanwar Yatra, the annual pilgrimage of Lord Shiva devotees, which commenced from Friday, with a massive deployment of personnel to ensure safety of pilgrims and maintain law and order, stated a release from the chief minister's media cell. Kanwarias in Ghaziabad, carrying Ganga water from Haridwar, going towards Rajasthan, on Friday. (Sakib Ali/HT Photo) A network of 29,454 CCTVs has been installed along key Kanwar routes and major congregation points across the state and 395 high-tech drones, including anti-drones and tethered drones, are providing real-time video feeds directly to the DGP headquarters. These advanced surveillance systems, previously used during the Ram Mandir inauguration and Mahakumbh, are now enhancing real-time monitoring and threat detection. A state-of-the-art control room, modelled on the Mahakumbh framework, has been established with round-the-clock real-time monitoring capabilities. Elite security forces, including Anti-Terrorism Squad, Rapid Action, and Quick Response Team, have been deployed at ground level along the entire Yatra route to ensure maximum vigilance, stated the release. 'Technology is being leveraged at every level to ensure the comfort, safety and smooth experience of devotees. Chief minister Yogi Adityanath has reviewed all preparations and issued strict instructions to ensure flawless arrangements for security, healthcare, sanitation, drinking water and traffic management. Drawing inspiration from the Mahakumbh security model, similar protocols have been implemented across the Kanwar Yatra corridors,' emphasized authorities. Tethered drones, which hover in a fixed position for extended periods, are proving particularly effective in monitoring dense crowds and enabling quick response in case of emergencies. 'A modern control room has been established at the DGP headquarters to provide 24/7 real-time monitoring of the Yatra and Shiv temples to bolster security,' they added. They stated a dedicated eight-member social media surveillance team is on high alert. This team continuously monitors online platforms for rumours, misleading information and sensitive posts, promptly alerting district officials and ensuring swift removal of objectionable content. A separate control room team monitors inputs from electronic media, UP112 and other communication channels to ensure seamless coordination and prompt responses, they added. Officias stated the state government has deployed a large-scale police and paramilitary force. 'A total of 587 gazetted officers, 2,040 inspectors, 13,520 sub-inspectors and 39,965 constables have been assigned duty. In addition, 1,486 women sub-inspectors and 8,541 women constables are on the ground to maintain law and order. The deployment also includes 50 companies of PAC and central forces, along with 1,424 home guards,' they informed. For effective interstate coordination, a dedicated WhatsApp group comprising officials from Uttar Pradesh, Uttarakhand, Haryana, Delhi, and Rajasthan has been created. This group facilitates real-time information exchange on route conditions, security updates and crowd management strategies.
TimesLIVE
12-06-2025
- Automotive
- TimesLIVE
The MINI Cooper S is a small car with big charisma
The first example of the latest generation MINI I drove was the Countryman, and as much as the family car impressed with its relatively nimble driving characteristics, considering its bloated dimensions, it's too big to be considered a real MINI. Its 4,444mm length is comparable to midsized SUVs like the Chery Tiggo 7 Pro and Toyota Corolla Cross. In the 14-model MINI range that comprises convertibles, five-door hatches and crossovers, it's the three-door hatchback that best exemplifies the spirit of the original 1960s Mini. Like the groundbreaking original designed by Alec Issigonis, the latest three-door MINI is compact, cute as a button, and runs circles around the many top-heavy SUVs that are increasingly dominating the roadways. Priced at R649,395, the Cooper S three-door hatch embodies the charismatic simplicity of the latest fifth-generation MINI, which brings a minimalist design and digital innovations. It isn't just a MINI hatchback with two fewer doors. With a length of 3,876mm the tiny three-door doesn't offer family practicality and loses a lot of cabin and boot space to the 4,036mm five-door MINI hatch. Even small children will struggle to squeeze into the three-door's rear seat unless you adjust the front seats as far as they'll go forward. It's best to look at this as a two-person car, with a back seat that serves as extra luggage space. The tiny 210 l boot expands to a useful 725 l when you flip down the backrests. The car is instantly recognisable as a MINI with its doe-eyed headlamps and 'floating' roof, but the design has been touched up with a new octagonal grille and horizontal LED daytime running lights. There are three selectable light signatures for the daytime running lights and the matrix rear lights. Inside, the car is all about modern minimalism with its giant round OLED display and two-tone textile dashboard. As part of the MINI Experience Modes, two projector units beam various illuminated graphics onto the dashboard. A personal photo can be set as the display background via the MINI app. A dinner plate-sized OLED touchscreen houses all the infotainment controls in large and legible fonts. The digital interface is generally user friendly, though I would have preferred quick-access physical buttons for the climate control system.
Winnipeg Free Press
04-06-2025
- Business
- Winnipeg Free Press
Phillies take on the Blue Jays after Bohm's 4-hit game
Philadelphia Phillies (37-23, second in the NL East) vs. Toronto Blue Jays (31-29, third in the AL East) Toronto; Wednesday, 7:07 p.m. EDT PITCHING PROBABLES: Phillies: Mick Abel (0-0); Blue Jays: Jose Berrios (2-2, 3.86 ERA, 1.30 WHIP, 65 strikeouts) BETMGM SPORTSBOOK LINE: Blue Jays -112, Phillies -107; over/under is 9 runs BOTTOM LINE: The Philadelphia Phillies play the Toronto Blue Jays after Alec Bohm had four hits against the Blue Jays on Tuesday. Toronto has a 31-29 record overall and a 20-13 record at home. The Blue Jays have the sixth-ranked team slugging percentage in the AL at .395. Philadelphia has gone 18-11 in road games and 37-23 overall. The Phillies have gone 15-7 in games when they did not give up a home run. The teams match up Wednesday for the second time this season. TOP PERFORMERS: George Springer has 12 doubles, a triple, eight home runs and 24 RBIs for the Blue Jays. Addison Barger is 11 for 35 with two doubles and four home runs over the last 10 games. Kyle Schwarber has nine doubles, a triple and 19 home runs for the Phillies. Bohm is 14 for 42 with a double and two home runs over the past 10 games. LAST 10 GAMES: Blue Jays: 6-4, .273 batting average, 4.03 ERA, outscored opponents by two runs Phillies: 5-5, .229 batting average, 5.24 ERA, outscored by 12 runs INJURIES: Blue Jays: Daulton Varsho: 10-Day IL (hamstring), Anthony Santander: 10-Day IL (shoulder), Yimi Garcia: 15-Day IL (shoulder), Max Scherzer: 60-Day IL (thumb), Ryan Burr: 60-Day IL (shoulder), Nick Sandlin: 15-Day IL (back), Alek Manoah: 60-Day IL (elbow), Angel Bastardo: 60-Day IL (elbow) Phillies: Bryce Harper: day-to-day (elbow), Aaron Nola: 15-Day IL (ankle) ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.
Business Wire
08-05-2025
- Business
- Business Wire
ACI Worldwide, Inc. Reports Financial Results for the
OMAHA, Neb.--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, announced financial results today for the quarter ending March 31, 2025. "We are happy to report Q1 results that were again ahead of our expectations," said Thomas Warsop, president and CEO of ACI Worldwide. 'Our newly formed Payment Software segment, which is the combination of our former Bank and Merchant segments, grew revenue 42%. We continue to see strength in our Issuing and Acquiring solutions driven by large financial institutions' modernization efforts. Our Biller business was also strong with revenue up 11%.' Warsop continued, 'We had a strong start to the year and our financial position continues to improve. This strong start makes us even more confident in our full-year financial expectations. We remain focused on the execution of our strategy, delivering transformative software solutions that power intelligent payment orchestration in real time.' Q1 2025 FINANCIAL SUMMARY In Q1 2025, revenue was $395 million, up 25% from Q1 2024. Recurring revenue of $286 million grew 8% and represented 72% of total revenue in the quarter. Net income of $59 million compares to a net loss of $8 million in Q1 2024 and includes a $22 million after-tax gain on the sale of our minority interest in India-based Mindgate. Adjusted EBITDA in Q1 2025 was $94 million, up 95% from Q1 2024. Cash flow from operating activities in Q1 2025 was $78 million, versus $123 million in Q1 2024. Payment Software segment revenue grew 42% and segment-adjusted EBITDA increased 104% versus Q1 2024. Biller segment revenue grew 11% and segment-adjusted EBITDA increased 1% versus Q1 2024. ACI ended Q1 2025 with $230 million in cash on hand and a debt balance of $853 million, which represents a net debt leverage ratio of 1.2x adjusted EBITDA. Year to date, the company has repurchased 1 million shares for approximately $52 million in capital. The company has approximately $320 million remaining available on the share repurchase authorization. RAISING 2025 GUIDANCE Given our strong start to the year and to account for the impact of changes in foreign currency rates, we are raising our revenue guidance for the full year of 2025. We now expect revenue to be in the range of $1.690 billion to $1.720 billion. We continue to expect adjusted EBITDA to be in the range of $480 million to $495 million. For Q2 2025, we expect revenue to be between $375 million and $385 million and adjusted EBITDA of $55 million to $65 million. CONFERENCE CALL TO DISCUSS FINANCIAL RESULTS Today, management will host a conference call at 8:30 a.m. ET to discuss these results. Interested persons may access a real-time teleconference webcast at To join the live audio call, please dial +1 (800) 715-9871, provide your name, the conference name of ACI Worldwide, Inc. and conference ID 88945; alternatively, to reduce operator assisted delays joining the call, we invite you to register in advance by visiting This process will provide you with a unique passcode allowing you to join the call without operator assistance. About ACI Worldwide ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With nearly 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities. © Copyright ACI Worldwide, Inc. 2025. ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners. To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude significant transaction-related expenses, as well as other significant non-cash expenses such as depreciation, amortization, and stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. The presentation of these non-GAAP financial measures should be considered in addition to our GAAP results and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management generally compensates for limitations in the use of non-GAAP financial measures by relying on comparable GAAP financial measures and providing investors with a reconciliation of non-GAAP financial measures only in addition to and in conjunction with results presented in accordance with GAAP. We believe that these non-GAAP financial measures reflect an additional way to view aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. Certain non-GAAP measures include: Adjusted EBITDA: net income (loss) plus income tax expense (benefit), net interest income (expense), net other income (expense), depreciation, amortization and stock-based compensation, as well as significant transaction-related expenses. Adjusted EBITDA should be considered in addition to, rather than as a substitute for, net income (loss). Net Adjusted EBITDA Margin: Adjusted EBITDA divided by revenue net of pass-through interchange revenue. Net Adjusted EBITDA Margin should be considered in addition to, rather than as a substitute for, net income (loss). Diluted EPS adjusted for non-cash and significant transaction related items: diluted EPS plus tax effected significant transaction related items, amortization of acquired intangibles and software, and non-cash stock-based compensation. Diluted EPS adjusted for non-cash and significant transaction related items should be considered in addition to, rather than as a substitute for, diluted EPS. Recurring Revenue: revenue from software as a service and platform as a service fees and maintenance fees. Recurring revenue should be considered in addition to, rather than as a substitute for, total revenue. ARR: New annual recurring revenue expected to be generated from new accounts, new applications, and add-on sales bookings contracts signed in the period. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words or phrases such as 'believes,' 'will,' 'expects,' 'anticipates,' 'intends,' and words and phrases of similar impact. The forward-looking statements are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to: (i) we continue to see strength in our Issuing and Acquiring solutions driven by large financial institutions' modernization efforts, (ii) our financial position continues to improve, (iii) this strong start makes us even more confident in our full-year financial expectations, (iv) we remain focused on the execution of our strategy, delivering transformative software solutions that power intelligent payment orchestration in real time, and (v) Q2 2025 and full-year 2025 revenue and adjusted EBITDA financial guidance. All of the foregoing forward-looking statements are expressly qualified by the risk factors discussed in our filings with the Securities and Exchange Commission. Such factors include, but are not limited to, increased competition, business interruptions, cybersecurity incidents or failure of our information technology and communication systems, security breaches, our ability to attract and retain senior management personnel and skilled technical employees, future acquisitions, strategic partnerships and investments, divestitures and other restructuring activities, implementation and success of our strategy, impact if we convert some or all on-premise licenses from fixed-term to subscription model, anti-takeover provisions, exposure to credit or operating risks arising from certain payment funding methods, loss caused by theft or fraud, customer reluctance to switch to a new vendor, our ability to adequately defend our intellectual property, litigation, consent orders and other compliance agreements, our offshore software development activities, risks from operating internationally, including fluctuations in currency exchange rates, events in eastern Europe and the Middle East, adverse changes in the global economy, compliance of our products with applicable legislation, governmental regulations and industry standards, the complexity of our products and services and the risk that they may contain hidden defects, legal and business risks from artificial intelligence technology incorporated into our products, risks to our business from the use of artificial intelligence by our workforce, complex regulations applicable to our payments business, our compliance with privacy and cybersecurity regulations, compliance with requirements of the payment card networks and Nacha, exposure to unknown tax liabilities, changes in tax laws and regulations, consolidations and failures in the financial services industry, volatility in our stock price, demand for our products, failure to obtain renewals of customer contracts or to obtain such renewals on favorable terms, delay or cancellation of customer projects or inaccurate project completion estimates, changes in card association and debit network fees or products, impairment of our goodwill or intangible assets, the accuracy of management's backlog estimates, the cyclical nature of our revenue and earnings and the accuracy of forecasts due to the concentration of revenue-generating activity during the final weeks of each quarter, restrictions and other financial covenants in our debt agreements, our existing levels of debt, incurring additional debt, events outside of our control including natural disasters, wars, and outbreaks of disease, and revenues or revenue mix below expectations. For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. ACI WORLDWIDE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited and in thousands, except per share amounts) Three Months Ended March 31, 2025 2024 Revenues Software as a service and platform as a service $ 237,083 $ 215,732 License 84,493 29,973 Maintenance 48,642 47,754 Services 24,347 22,560 Total revenues 394,565 316,019 Operating expenses Cost of revenue (1) 213,378 191,107 Research and development 38,908 34,993 Selling and marketing 32,186 26,750 General and administrative 27,592 26,000 Depreciation and amortization 23,985 27,609 Total operating expenses 336,049 306,459 Operating income 58,516 9,560 Other income (expense) Interest expense (14,683 ) (19,010 ) Interest income 4,064 4,009 Other, net 23,740 (2,025 ) Total other income (expense) 13,121 (17,026 ) Income (loss) before income taxes 71,637 (7,466 ) Income tax expense (benefit) 12,767 285 Net income (loss) $ 58,870 $ (7,751 ) Income (loss) per common share Basic $ 0.56 $ (0.07 ) Diluted $ 0.55 $ (0.07 ) Weighted average common shares outstanding Basic 105,350 106,799 Diluted 106,827 106,799 (1) The cost of revenue excludes charges for depreciation and amortization. Expand ACI WORLDWIDE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited and in thousands) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net income (loss) $ 58,870 $ (7,751 ) Adjustments to reconcile net income (loss) to net cash flows from operating activities: Depreciation 3,156 3,631 Amortization 20,829 23,978 Amortization of operating lease right-of-use assets 2,435 2,568 Amortization of deferred debt issuance costs 650 936 Deferred income taxes (2,463 ) 1,006 Stock-based compensation expense 11,627 8,099 Gain on sale of equity investment (25,927 ) — Other (718 ) (1,311 ) Changes in operating assets and liabilities: Receivables 41,640 127,269 Accounts payable 7,479 (448 ) Accrued employee compensation (25,182 ) (26,453 ) Deferred revenue (4,648 ) 13,907 Other current and noncurrent assets and liabilities (9,527 ) (22,190 ) Net cash flows from operating activities 78,221 123,241 Cash flows from investing activities: Purchases of property and equipment (2,170 ) (3,208 ) Purchases of software and distribution rights (6,759 ) (14,582 ) Proceeds from sale of equity investment 46,021 — Net cash flows from investing activities 37,092 (17,790 ) Cash flows from financing activities: Proceeds from issuance of common stock 813 693 Proceeds from exercises of stock options 582 475 Repurchase of stock-based compensation awards for tax withholdings (7,070 ) (3,302 ) Repurchases of common stock (14,408 ) (62,515 ) Proceeds from revolving credit facility — 164,000 Repayment of revolving credit facility (70,000 ) (152,000 ) Proceeds from term portion of credit agreement — 500,000 Repayment of term portion of credit agreement (9,375 ) (529,073 ) Payments for debt issuance costs — (5,141 ) Payments on or proceeds from other debt, net (4,217 ) (2,694 ) Net increase (decrease) in settlement assets and liabilities 88,324 (18,933 ) Net cash flows from financing activities (15,351 ) (108,490 ) Effect of exchange rate fluctuations on cash 1,791 2,314 Net increase (decrease) in cash and cash equivalents 101,753 (725 ) Cash and cash equivalents, including settlement deposits, beginning of period 265,018 238,821 Cash and cash equivalents, including settlement deposits, end of period $ 366,771 $ 238,096 Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets Cash and cash equivalents $ 230,057 $ 183,393 Settlement deposits 136,714 54,703 Total cash and cash equivalents $ 366,771 $ 238,096 Expand Three Months Ended March 31, Adjusted EBITDA (millions) 2025 2024 Net income (loss) $ 58.9 $ (7.8 ) Plus: Income tax expense 12.8 0.3 Net interest expense 10.6 15.0 Net other (income) expense (23.7 ) 2.0 Depreciation expense 3.2 3.6 Amortization expense 20.8 24.0 Non-cash stock-based compensation expense 11.6 8.1 Adjusted EBITDA before significant transaction-related expenses $ 94.1 $ 45.2 Significant transaction-related expenses: Cost reduction strategies $ — $ 2.6 Other — 0.3 Adjusted EBITDA $ 94.1 $ 48.1 Revenue, net of interchange: Revenue $ 394.6 $ 316.0 Interchange 130.8 112.4 Revenue, net of interchange $ 263.8 $ 203.6 Net Adjusted EBITDA Margin 36 % 24 % Expand Three Months Ended March 31, Segment Information (millions) 2025 2024 Revenue Payment Software $ 200.7 $ 141.1 Biller 193.9 174.9 Total $ 394.6 $ 316.0 Recurring Revenue Payment Software $ 91.9 $ 88.6 Biller 193.8 174.9 Total $ 285.7 $ 263.5 Segment Adjusted EBITDA Payment Software $ 106.6 $ 52.3 Biller 30.9 30.7 Note: Amounts may not recalculate due to rounding. Expand Three Months Ended March 31, 2025 2024 EPS Impact of Non-cash and Significant Transaction-related Items (millions) EPS Impact $ in Millions (Net of Tax) EPS Impact $ in Millions (Net of Tax) GAAP net income (loss) $ 0.55 $ 58.9 $ (0.07 ) $ (7.8 ) Adjusted for: Gain on sale of equity investment (0.20 ) (21.7 ) — — Significant transaction-related expenses — — 0.02 2.2 Amortization of acquisition-related intangibles 0.04 4.1 0.06 6.4 Amortization of acquisition-related software 0.03 3.2 0.03 3.4 Non-cash stock-based compensation 0.09 9.2 0.06 6.2 Total adjustments $ (0.04 ) $ (5.2 ) $ 0.17 $ 18.2 Diluted EPS adjusted for non-cash and significant transaction-related items $ 0.51 $ 53.7 $ 0.10 $ 10.4 Expand Three Months Ended March 31, Recurring Revenue (millions) 2025 2024 SaaS and PaaS fees $ 237.1 $ 215.7 Maintenance fees 48.6 47.8 Recurring Revenue $ 285.7 $ 263.5 Expand New Bookings (millions) Three Months Ended March 31, TTM Ended March 31, 2025 2024 2025 2024 Annual recurring revenue (ARR) bookings $ 8.9 $ 6.4 $ 68.3 $ 68.4 License and services bookings 50.0 27.2 312.8 243.4 Note: Amounts may not recalculate due to rounding. 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