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Surveillance tech advances by Biden could aid in Trump’s promised crackdown on immigrationRFK Jr.'s surprising defense of leaked audio calling the president-elect Hitler and MAGA supporters 'idiots'Russia's manufacturing sector continued to expand in December, but at a slower pace than the previous month, as inflationary pressures remained high and business confidence weakened, S&P Global reported on Friday. The Purchasing Managers' Index (PMI) for Russian manufacturing edged down to 50.8 in December from 51.3 in November, indicating a marginal improvement in sector health. A PMI reading above 50 signals growth, while below 50 indicates contraction. New orders saw a slight increase, supported by sustained client demand, but the growth rate was below the long-term average. Export orders rose for the fifth consecutive month, driven by increased trade with neighbouring countries, although the pace of expansion was the weakest since August. Despite the growth in orders, output expansion was modest, with firms citing softer demand and material shortages. "The rise in production was linked to a sustained uptick in new order inflows," the report noted. Inflationary pressures remained elevated, with input costs rising due to material price hikes and unfavourable exchange rate movements. Output prices also increased, although the rate of inflation softened to a three-month low. Employment levels fell for the second month in a row, reflecting subdued demand and sufficient capacity. Firms reduced workforce numbers slightly, with backlogs of work declining only fractionally. Manufacturers increased input buying to rebuild stocks and mitigate future price hikes but supply chain issues, particularly in rail transportation, led to longer delivery times. Overall, Russian manufacturers remained optimistic about future output, although confidence has waned due to concerns over higher prices and material shortages. Russia's manufacturing sector continued to expand in December, but at a slower pace than the previous month, as inflationary pressures remained high and business confidence weakened, S&P Global reported on Friday. The Purchasing Managers' Index (PMI) for Russian manufacturing edged down to 50.8 in December from 51.3 in November, indicating a marginal improvement in sector health. A PMI reading above 50 signals growth, while below 50 indicates contraction. New orders saw a slight increase, supported by sustained client demand, but the growth rate was below the long-term average. Export orders rose for the fifth consecutive month, driven by increased trade with neighbouring countries, although the pace of expansion was the weakest since August. Despite the growth in orders, output expansion was modest, with firms citing softer demand and material shortages. "The rise in production was linked to a sustained uptick in new order inflows," the report noted. Inflationary pressures remained elevated, with input costs rising due to material price hikes and unfavourable exchange rate movements. Output prices also increased, although the rate of inflation softened to a three-month low. Employment levels fell for the second month in a row, reflecting subdued demand and sufficient capacity. Firms reduced workforce numbers slightly, with backlogs of work declining only fractionally. Manufacturers increased input buying to rebuild stocks and mitigate future price hikes but supply chain issues, particularly in rail transportation, led to longer delivery times. Overall, Russian manufacturers remained optimistic about future output, although confidence has waned due to concerns over higher prices and material shortages.
UPS (NYSE: UPS) continues to struggle through a difficult period. The small package delivery market is over capacity, pressuring pricing power at a time when a weak economy is encouraging customers to shift to cheaper delivery options. It all adds up to a difficult period for UPS, and the company will end 2024 with significantly lower earnings than management anticipated at the start of the year. UPS will likely be a big winner if interest rates head lower. Here's why. Not just about end demand Interest rates are affecting not only UPS' end markets, but also its business model. CEO Carol Tome's tenure has been characterized by her admonishment of the "better not bigger" operating framework. Are You Missing The Morning Scoop? Breakfast News delivers it all in a quick, Foolish, and free daily newsletter. Sign Up For Free » In plain English, this implies focusing on targeted deliveries rather than chasing volume growth. This approach colors the company's structure and competitiveness in its end markets. The latter is the key to understanding why UPS needs lower interest rates. I'll return to that point in a moment. First, a few words on the cyclical benefit of lower rates. Lower rates will help volume growth Package deliveries have also been cyclical, and they always will be. When the economy is doing well, more physical goods are shipped, and vice versa. As such, the weakness in the economy over the last couple of years has negatively affected delivery volumes. Unfortunately, the delivery slowdown came after the package delivery companies ramped up capacity to align with the burgeoning demand created by pandemic lockdown measures. As management outlined during the investor day in March, the U.S. small package market has an excess capacity of some 12 million in average daily volume in 2024. It will take time for the industry to work through that overcapacity, and UPS, among others, is reducing capacity where necessary. Lower rates will spur business activity and consumer spending, leading to growth in package delivery volume, and customers will start switching back to more costly and more timely delivery options in response. UPS' business model will benefit, too Returning to the point about the UPS business model, it's fair to say that the "better not bigger" framework has been challenged this year. The company continued to focus on driving growth in selected end markets, such as higher-margin markets like small and medium-sized businesses (SMBs) and healthcare. Still, it's also taken on a significant amount of relatively lower revenue per piece volume of deliveries in 2024. You can see this in the chart below, where revenue per piece continues to decline, but volumes are growing again, leading to revenue growth. While it's not UPS' ideal scenario and seems inconsistent with "better not bigger," market conditions dictate it. A lower-interest-rate environment will improve overall package delivery demand and allow UPS to better align its business with its long-term strategy. There's little management can do about its end markets, and the pragmatic approach taken in 2024 -- by taking on lower revenue per piece deliveries -- is a net positive under the circumstances. UPS in 2025 With lower interest rates in 2025, UPS should be able to finesse a return to its core operating philosophy of growing in its targeted markets and hopefully improve its revenue per piece growth. That would be a positive development, because the good news from the third quarter came from its cost-per-piece reduction of 4.1% year over year. Not only is UPS doing an excellent job of cutting costs (the company is cutting 12,000 jobs this year to reduce cost by $1 billion) , it's also lapping the increases in costs associated with the improved labor contract agreed in 2023. Its medium-term plan, outlined in March, calls for ongoing investments in automation and smart facilities to improve network productivity, enabling UPS to consolidate its facilities and reduce cost per piece. A stock to buy? UPS has a lot to gain from a lower-rate environment: Improved pricing power, a potential improvement in revenue per piece while cost per piece is likely to be controlled, and UPS can return to focusing on higher-margin deliveries. It all speaks to a combination of revenue growth and margin expansion next year as the company recovers from a difficult couple of years. UPS is far from perfect, and there's no guarantee it will hit its full-year earnings expectations. But on balance, the stock looks like a good value, trading on 15.6 times estimated 2025 earnings. Should you invest $1,000 in United Parcel Service right now? Before you buy stock in United Parcel Service, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and United Parcel Service wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $829,378 !* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of November 25, 2024 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends United Parcel Service. The Motley Fool has a disclosure policy . If the Fed Keeps Cutting Interest Rates, This Stock Could Be a Winner was originally published by The Motley Fool
Kimberly-Clark Offers Comfort With 58 Straight Years Of Dividend GrowthBy SARAH PARVINI, GARANCE BURKE and JESSE BEDAYN, Associated Press President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. While immigration officials have used the tech for years, an October letter from the Department of Homeland Security obtained exclusively by The Associated Press details how those tools — some of them powered by AI — help make life-altering decisions for immigrants, including whether they should be detained or surveilled. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency’s supervision. The letter, sent by DHS Chief Artificial Intelligence Officer Eric Hysen to the immigrant rights group Just Futures Law, revealed that the score calculates the potential risk that an immigrant — with a pending case — will fail to check in with Immigration and Customs Enforcement officers. The algorithm relies on several factors, he said, including an immigrant’s number of violations and length of time in the program, and whether the person has a travel document. Hysen wrote that ICE officers consider the score, among other information, when making decisions about an immigrant’s case. “The Hurricane Score does not make decisions on detention, deportation, or surveillance; instead, it is used to inform human decision-making,” Hysen wrote. Also included in the government’s tool kit is a mobile app called SmartLINK that uses facial matching and can track an immigrant’s specific location. Nearly 200,000 people without legal status who are in removal proceedings are enrolled in the Alternatives to Detention program, under which certain immigrants can live in the U.S. while their immigration cases are pending. In exchange, SmartLINK and GPS trackers used by ICE rigorously surveil them and their movements. The phone application draws on facial matching technology and geolocation data, which has been used before to find and arrest those using the app. Just Futures Law wrote to Hysen earlier this year, questioning the fairness of using an algorithm to assess whether someone is a flight risk and raising concerns over how much data SmartLINK collects. Such AI systems, which score or screen people, are used widely but remain largely unregulated even though some have been found to discriminate on race, gender or other protected traits. DHS said in an email that it is committed to ensuring that its use of AI is transparent and safeguards privacy and civil rights while avoiding biases. The agency said it is working to implement the Biden administration’s requirements on using AI , but Hysen said in his letter that security officials may waive those requirements for certain uses. Trump has publicly vowed to repeal Biden’s AI policy when he returns to the White House in January. “DHS uses AI to assist our personnel in their work, but DHS does not use the outputs of AI systems as the sole basis for any law enforcement action or denial of benefits,” a spokesperson for DHS told the AP. Trump has not revealed how he plans to carry out his promised deportation of an estimated 11 million people living in the country illegally. Although he has proposed invoking wartime powers, as well as military involvement, the plan would face major logistical challenges — such as where to keep those who have been detained and how to find people spread across the country — that AI-powered surveillance tools could potentially address. Karoline Leavitt, a spokesperson for Trump, did not answer questions about how they plan to use DHS’ tech, but said in a statement that “President Trump will marshal every federal and state power necessary to institute the largest deportation operation” in American history. Over 100 civil society groups sent a letter on Friday urging the Office of Management and Budget to require DHS to comply with the Biden administration’s guidelines. OMB did not immediately respond to a request for comment. Just Futures Law’s executive director, Paromita Shah, said if immigrants are scored as flight risks, they are more likely to remain in detention, “limiting their ability to prepare a defense in their case in immigration court, which is already difficult enough as it is.” SmartLINK, part of the Intensive Supervision Appearance Program, is run by BI Inc., a subsidiary of the private prison company The GEO Group. The GEO Group also contracts with ICE to run detention centers. ICE is tight-lipped about how it uses SmartLINK’s location feature to find and arrest immigrants. Still, public records show that during Trump’s first term in 2018, Manassas, Virginia-based employees of BI Inc. relayed immigrants’ GPS locations to federal authorities, who then arrested over 40 people. In a report last year to address privacy issues and concerns, DHS said that the mobile app includes security features that “prohibit access to information on the participant’s mobile device, with the exception of location data points when the app is open.” But the report notes that there remains a risk that data collected from people “may be misused for unauthorized persistent monitoring.” Such information could also be stored in other ICE and DHS databases and used for other DHS mission purposes, the report said. On investor calls earlier this month, private prison companies were clear-eyed about the opportunities ahead. The GEO Group’s executive chairman George Christopher Zoley said that he expects the incoming Trump administration to “take a much more aggressive approach regarding border security as well as interior enforcement and to request additional funding from Congress to achieve these goals.” “In GEO’s ISAP program, we can scale up from the present 182,500 participants to several hundreds of thousands, or even millions of participants,” Zoley said. That same day, the head of another private prison company told investors he would be watching closely to see how the new administration may change immigrant monitoring programs. “It’s an opportunity for multiple vendors to engage ICE about the program going forward and think about creative and innovative solutions to not only get better outcomes, but also scale up the program as necessary,” Damon Hininger, CEO of the private prison company CoreCivic Inc. said on an earnings call. GEO did not respond to requests for comment. In a statement, CoreCivic said that it has played “a valued but limited role in America’s immigration system” for both Democrats and Republicans for over 40 years.
With nearly all of the votes counted, left-leaning Mr Milanovic won 49% while his main challenger Dragan Primorac, a candidate of the ruling conservative HDZ party, trailed far behind with 19%. Pre-election polls had predicted that the two would face off in the second round on January 12, as none of the eight presidential election contenders were projected to get more than 50% of the vote. Mr Milanovic thanked his supporters but warned that “this was just a first run”. “Let’s not be triumphant, let’s be realistic, firmly on the ground,” he said. “We must fight all over again. It’s not over till it’s over.” Mr Milanovic, the most popular politician in Croatia, has served as prime minister in the past. Populist in style, the 58-year-old has been a fierce critic of current Prime Minister Andrej Plenkovic and continuous sparring between the two has been a recent hallmark of Croatia’s political scene. Mr Plenkovic has sought to portray the vote as one about Croatia’s future in the EU and Nato. He has labelled Mr Milanovic “pro-Russian” and a threat to Croatia’s international standing. “The difference between him (Mr Primorac) and Milanovic is quite simple: Milanovic is leading us East, Primorac is leading us West,” he said. Though the presidency is largely ceremonial in Croatia, an elected president holds political authority and acts as the supreme commander of the military. Mr Milanovic has criticised the Nato and European Union support for Ukraine and has often insisted that Croatia should not take sides. He has said Croatia should stay away from global disputes, thought it is a member of both Nato and the EU. Mr Milanovic has also blocked Croatia’s participation in a Nato-led training mission for Ukraine, declaring that “no Croatian soldier will take part in somebody else’s war”. His main rival in the election, Mr Primorac, has stated that “Croatia’s place is in the West, not the East”. However, his bid for the presidency has been marred by a high-level corruption case that landed Croatia’s health minister in jail last month and which featured prominently in pre-election debates. Trailing a distant third in the pre-election polls is Marija Selak Raspudic, a conservative independent candidate. She has focused her election campaign on the economic troubles of ordinary citizens, corruption and issues such as population decline in the country of some 3.8 million. Sunday’s presidential election is Croatia’s third vote this year, following a snap parliamentary election in April and the European Parliament balloting in June.Houston Astros welcome 1B Christian Walker to team; say negotiations with Bregman stalled
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By Conor Roche Chatter of Juan Soto signing with the Red Sox has seemingly risen on social media in recent days. Well, the recent odds have shown that Boston’s chances to sign Soto have improved. The Red Sox are listed at +300 to be Soto’s next team at BetMGM Sportsbook , giving them the third-best odds to sign the star slugger. The Yankees remain the favorite to sign Soto, holding -110 odds to retain him. The Mets have the second-best odds of signing Soto (+150) while the Blue Jays and Dodgers also have +300 odds. While Boston still trails both New York teams and has equal odds with two other ballclubs, its betting odds to sign Soto have vastly improved since the start of the offseason. The Red Sox were listed at +2500 at DraftKings Sportsbook to sign Soto in the first week of November, which was the eighth-highest among all teams at the time. In the time since then, the Red Sox were reportedly among a handful of teams to meet with Soto in Southern California. That meeting was “productive” and Soto was “impressed” by Boston’s presentation, MassLive’s Sean McAdam previously reported . The Red Sox were also just one of five known teams to have reportedly sent Soto a contract offer as well. Boston has also stepped up its efforts as it pitched Soto on his fit with the franchise (in terms of his fit at Fenway and with the ball club’s history), the New York Post ‘s Jon Heyman reported earlier in the week . More rumors emerged about the Red Sox’ pursuit of Soto on social media throughout the day on Thanksgiving, with some possibly signaling that he was leaning toward signing with Boston. However, ESPN’s Jeff Passan reported that Soto remained unsigned . Whenever Soto opts to sign, the expectation is that he’ll receive one of the largest deals, if not the largest deal, in MLB history. Most prognosticators projected Soto to sign a contract worth at least $600 million over a minimum of 12 years ahead of free agency. Even though the Red Sox haven’t been too active relative to other big market teams in free agency over the last few offseasons. Some insiders expect the Red Sox to be more aggressive this offseason, though. “The Red Sox, after sleepwalking through the past few offseasons, have finally arisen and awakened, and they’re acting like a big market team should,” The Athletic ‘s and Fox Sports’ Ken Rosenthal said on “Fair Territory.” Boston also has the cap room to add a contract like the one Soto is expected to receive this offseason. It had roughly $70 million in available cap space before reaching the first luxury tax threshold entering the offseason, The Boston Globe ‘s Alex Speier projected in October . Red Sox CEO Sam Kennedy has also hinted at the possibility of the team entering the luxury tax, which the would likely have to do if they want to sign Soto and add pitching help. “Even if it takes us over the [competitive balance tax],” Kennedy told The Boston Globe ‘s Michael Silverman earlier in November on the Red Sox’ potential spending this offseason . “Our priority is 90 to 95 wins, and winning the American League East, and winning the division for multiple years.” Signing Soto might not be a necessity for the Red Sox this offseason as they’re set to have an outfield logjam and are already a left-heavy lineup. But signing him would give them a talent they haven’t had since they traded Mookie Betts and would allow the team to be much more flexible with their roster. Boston would probably like Soto to make his decision sooner rather than later as it still has other areas of the roster to address. There have been reports that have indicated Soto is likely to make his decision by MLB’s winter meetings , which will take place from Dec. 9-12, if not sooner. Sign up for Red Sox updates⚾ Get breaking news and analysis delivered to your inbox during baseball season. Be civil. Be kind.If Ohio State head coach Ryan Day is trying to make a statement against Michigan this afternoon, he's got a funny way of showing it. Despite being 20-point favorites over Michigan this weekend, Ohio State hasn't been able to create any separation. Fans thought the Buckeyes would finally get the upper hand in the third quarter when the defense intercepted a pass from Davis Warren to given the offense incredible field position, but Day's coaching ultimately doomed the team. After wasting a first-down play on a run that gained zero yards, Day dialed up a short pass and then another run on 3rd and 10. Naturally, fans at Ohio Stadium booed the coaching staff for its lack of aggression. To make matters worse, kicker Jayden Fielding missed a 34-yard field goal. Even though Day doesn't call the plays for Ohio State, he's under fire for allowing Chip Kelly's offense to be so conservative all game long. Ben Jackson/Getty Images "Ryan Day is a coward. A damn coward," one fan said. Another fan declared, "Fire Ryan Day immediately after this game." "This is on Ryan Day now because he keeps allowing Chip Kelly to call these plays," a social media user commented. "Ryan Day is going to mess around and get fired when he actually wins against Michigan.. this is worse than any of the 3 times he lost," a fourth person wrote. Day came into this weekend with a 1-3 record all-time against Michigan. He won his first meeting before dropping three in a row. If Ohio State ends up losing this game, Day should be fired. There's no reason for the Buckeyes to be struggling in this matchup. As crazy as this may sound, the final quarter of "The Game" could very well decide Day's future in Columbus. Related: Ryan Day Has To Be Fired If Ohio States Loses To Michigan As Double-Digit FavoritesThe Iowa Hawkeyes were hoping that they'd get their starting quarterback Cade McNamara back for their Week 13 contest against the Maryland Terrapins, but he ended up being ruled out for the game. And as a result, rumors began circulating that McNamara's career with the Hawkeyes was over. McNamara suffered a concussion in Iowa's 40-14 win over Northwestern back on Oct. 26th, and ever since then, he's been working his way back to action. While the initial expectation was that he could play against Maryland, the fact that he was mysteriously ruled out led to speculation about his future with the team. Javascript is required for you to be able to read premium content. Thanks for the feedback.
SINGAPORE , Nov. 30, 2024 /PRNewswire/ -- Amber DWM Holding Limited ("Amber DWM"), the holding entity of Amber Group's digital wealth management business, known as Amber Premium ("Amber Premium"), today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with iClick Interactive Asia Group Limited ("iClick" or the "Listco") (NASDAQ: ICLK) and Overlord Merger Sub Ltd. ("Merger Sub"), a Cayman Islands exempted company and a direct, wholly owned subsidiary of the Listco. Under the Merger Agreement, Merger Sub will merge with and into Amber DWM, with Amber DWM continuing as the surviving entity and becoming a wholly-owned subsidiary of the Listco (the "Merger"). Amber DWM's shareholders will exchange all of their issued and outstanding share capital for a mix of newly issued Class A and Class B ordinary shares of the Listco on the terms and conditions set forth therein in a transaction exempt from the registration requirements under the Securities Act of 1933. Wayne Huo , Chief Executive Officer and Director of Amber DWM , said: " We are thrilled to embark on this transformative journey with iClick. This merger represents a significant milestone, bringing together Amber Premium's expertise in digital wealth management and iClick's innovative marketing technology. Together, we aim to redefine the digital financial ecosystem, delivering unparalleled value to our clients and stakeholders. By bridging the worlds of blockchain, fintech and digital marketing, we are unlocking new opportunities to revolutionize how value is created and exchanged in the digital economy ." The transaction values Amber DWM at US$360 million and the Listco at US$40 million by equity value on a fully diluted basis (assuming completion of certain restructuring as set forth in the Merger Agreement). Upon closing of the Merger (the "Closing"), the Amber DWM shareholders and the Listco shareholders (including holders of ADSs) will own approximately 90% and 10%, respectively, of the outstanding shares of the combined company, or 97% and 3% voting power, respectively. The Merger Agreement also contemplates that, upon the Closing, the Listco will change its name to "Amber International Holding Limited" and adopt the tenth amended and restated memorandum and articles of association of the Listco, in each case immediately before the effective time of the Merger (the "Effective Time"), following which the authorized share capital of the Listco shall only consist of Class A ordinary shares and Class B ordinary shares (with different voting powers but equal economic rights), a par value of US$0.001 each. Please refer to the Merger Agreement filed as Exhibit 99.2 to the Form 6-K furnished by the Listco to the SEC on November 29, 2024 for more details. The Listco's board of directors (the "Board") approved the Merger Agreement and other transaction documents, including but not limited to the voting agreement entered into by and among certain shareholders of the Listco (who holds approximately 36% of the outstanding shares representing 71% voting power of the Listco as of the date of this press release), the Listco and Amber DWM (the "Voting Agreement") (collectively, the "Transaction Documents"), and the transactions contemplated thereunder (the "Transactions"), with the assistance of its financial and legal advisors. The Board also resolved to recommend that the Listco's shareholders vote to authorize and approve the Transaction Documents and the Transactions when they are submitted for shareholder approval. In connection with the Transaction, each of the shareholders of Amber DWM immediately prior to the consummation of the Merger is entering into a lock-up agreement with the Listco pursuant to which they have agreed not to transfer the shares received in consideration of the Merger for a period of 12 months following the Merger closing. The completion of the Transactions is subject to the satisfaction of closing conditions set forth in the Merger Agreement, including, among other things, receipt of the Listco's shareholder approval and regulatory/stock exchange approvals (if applicable). The Merger Agreement provides for a long-stop date for any party to terminate the agreement if the Merger is not completed by June 30, 2025 . " This merger represents a transformative opportunity to broaden our business portfolio by integrating Amber Premium's state-of-the-art digital wealth management solutions. By uniting iClick's robust data analytic and enterprise software expertise with Amber Premium's advanced digital wealth management services, we aim to unblock synergies between traditional finance and the rapidly evolving digital asset ecosystem, particularly benefitting corporate and high net worth individual clients ", said Mr. Jian Tang , Chairman, Chief Executive Officer and Co-Founder of iClick . The foregoing description of the Merger Agreement and the Voting Agreement does not purport to be complete and is qualified in its entirety to the full text of the Merger Agreement and the Voting Agreement, which are filed as Exhibits 99.2 and 99.3 to the Form 6-K furnished by the Listco to the SEC on 29, 2024, respectively. Simpson Thacher & Bartlett LLP is serving as U.S. legal counsel to Amber DWM. Cleary Gottlieb Steen & Hamilton LLP is serving as U.S. legal counsel to iClick. About Amber Premium Amber Premium, the business brand behind Amber DWM Holding Limited, is a leading digital wealth management platform offering private banking-level solutions tailored for the dynamic crypto economy. Serving a premium clientele of esteemed institutions and qualified individuals, Amber Premium develops and supports innovative digital wealth management products. Its institutional-grade access and operations makes it the top choice for one-stop digital wealth management services, providing tailored, secure solutions that drive growth in the Web3 economy. About iClick Interactive Asia Group Limited Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia . With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com . Safe Harbor Statement This press release contains certain "forward-looking statements." These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the pending transactions described herein, and the parties' perspectives and expectations, are forward-looking statements. The words "will," "expect," "believe," "estimate," "intend," "plan" and similar expressions indicate forward-looking statements. Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the proposed transaction, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived; (ii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iii) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of the Listco, Amber DWM or the combined entity; (iv) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (v) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Listco's securities; (vi) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Amber DWM or the combined entity to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (vii) any changes in the business or operating prospects of Amber DWM and the combined entity or their businesses; (viii) changes in applicable laws and regulations; and (ix) risks relating to Amber DWM's and the combined company's ability to enhance their services and products, execute their business strategy, expand their customer base and maintain stable relationship with their business partners. A further list and description of risks and uncertainties can be found in the proxy statement that will be filed with the SEC by the Listco in connection with the proposed transactions, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Listco, Amber DWM and their respective subsidiaries and affiliates undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation. No Offer or Solicitation This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the transactions described above and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Amber DWM, the Listco or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering 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, or an exemption therefrom. Participants in the Solicitation The Listco, Amber DWM and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of the Listco in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed transaction will be included in the proxy statement pertaining to the proposed transaction when it becomes available for the proposed transaction. Additional Information and Where to Find It The Listco will file with the SEC and mail to its shareholders a proxy statement in connection with the proposed transaction. Investors and securityholders are urged to read the proxy statement when it becomes available because it will contain important information regarding the proposed arrangement. You may access the proxy statement (when available) and other related documents filed by the Listco with the SEC at the SEC's website at www.sec.gov . You also may obtain the proxy statement (when it is available) and other documents filed by the Listco with the SEC relating to the proposed arrangement for free by accessing the Listco's website at ir.i-click.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/amber-groups-subsidiary-amber-dwm-holding-limited-and-nasdaq-listed-iclick-interactive-asia-group-limited-enter-into-a-definitive-merger-agreement-302319082.html SOURCE Amber GroupBy SARAH PARVINI, GARANCE BURKE and JESSE BEDAYN, Associated Press President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. While immigration officials have used the tech for years, an October letter from the Department of Homeland Security obtained exclusively by The Associated Press details how those tools — some of them powered by AI — help make life-altering decisions for immigrants, including whether they should be detained or surveilled. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency’s supervision. The letter, sent by DHS Chief Artificial Intelligence Officer Eric Hysen to the immigrant rights group Just Futures Law, revealed that the score calculates the potential risk that an immigrant — with a pending case — will fail to check in with Immigration and Customs Enforcement officers. The algorithm relies on several factors, he said, including an immigrant’s number of violations and length of time in the program, and whether the person has a travel document. Hysen wrote that ICE officers consider the score, among other information, when making decisions about an immigrant’s case. “The Hurricane Score does not make decisions on detention, deportation, or surveillance; instead, it is used to inform human decision-making,” Hysen wrote. Also included in the government’s tool kit is a mobile app called SmartLINK that uses facial matching and can track an immigrant’s specific location. Nearly 200,000 people without legal status who are in removal proceedings are enrolled in the Alternatives to Detention program, under which certain immigrants can live in the U.S. while their immigration cases are pending. In exchange, SmartLINK and GPS trackers used by ICE rigorously surveil them and their movements. The phone application draws on facial matching technology and geolocation data, which has been used before to find and arrest those using the app. Just Futures Law wrote to Hysen earlier this year, questioning the fairness of using an algorithm to assess whether someone is a flight risk and raising concerns over how much data SmartLINK collects. Such AI systems, which score or screen people, are used widely but remain largely unregulated even though some have been found to discriminate on race, gender or other protected traits. DHS said in an email that it is committed to ensuring that its use of AI is transparent and safeguards privacy and civil rights while avoiding biases. The agency said it is working to implement the Biden administration’s requirements on using AI , but Hysen said in his letter that security officials may waive those requirements for certain uses. Trump has publicly vowed to repeal Biden’s AI policy when he returns to the White House in January. “DHS uses AI to assist our personnel in their work, but DHS does not use the outputs of AI systems as the sole basis for any law enforcement action or denial of benefits,” a spokesperson for DHS told the AP. Trump has not revealed how he plans to carry out his promised deportation of an estimated 11 million people living in the country illegally. Although he has proposed invoking wartime powers, as well as military involvement, the plan would face major logistical challenges — such as where to keep those who have been detained and how to find people spread across the country — that AI-powered surveillance tools could potentially address. Karoline Leavitt, a spokesperson for Trump, did not answer questions about how they plan to use DHS’ tech, but said in a statement that “President Trump will marshal every federal and state power necessary to institute the largest deportation operation” in American history. Over 100 civil society groups sent a letter on Friday urging the Office of Management and Budget to require DHS to comply with the Biden administration’s guidelines. OMB did not immediately respond to a request for comment. Just Futures Law’s executive director, Paromita Shah, said if immigrants are scored as flight risks, they are more likely to remain in detention, “limiting their ability to prepare a defense in their case in immigration court, which is already difficult enough as it is.” SmartLINK, part of the Intensive Supervision Appearance Program, is run by BI Inc., a subsidiary of the private prison company The GEO Group. The GEO Group also contracts with ICE to run detention centers. ICE is tight-lipped about how it uses SmartLINK’s location feature to find and arrest immigrants. Still, public records show that during Trump’s first term in 2018, Manassas, Virginia-based employees of BI Inc. relayed immigrants’ GPS locations to federal authorities, who then arrested over 40 people. In a report last year to address privacy issues and concerns, DHS said that the mobile app includes security features that “prohibit access to information on the participant’s mobile device, with the exception of location data points when the app is open.” But the report notes that there remains a risk that data collected from people “may be misused for unauthorized persistent monitoring.” Such information could also be stored in other ICE and DHS databases and used for other DHS mission purposes, the report said. On investor calls earlier this month, private prison companies were clear-eyed about the opportunities ahead. The GEO Group’s executive chairman George Christopher Zoley said that he expects the incoming Trump administration to “take a much more aggressive approach regarding border security as well as interior enforcement and to request additional funding from Congress to achieve these goals.” “In GEO’s ISAP program, we can scale up from the present 182,500 participants to several hundreds of thousands, or even millions of participants,” Zoley said. That same day, the head of another private prison company told investors he would be watching closely to see how the new administration may change immigrant monitoring programs. “It’s an opportunity for multiple vendors to engage ICE about the program going forward and think about creative and innovative solutions to not only get better outcomes, but also scale up the program as necessary,” Damon Hininger, CEO of the private prison company CoreCivic Inc. said on an earnings call. GEO did not respond to requests for comment. In a statement, CoreCivic said that it has played “a valued but limited role in America’s immigration system” for both Democrats and Republicans for over 40 years.Percentages: FG .400, FT .632. 3-Point Goals: 10-21, .476 (Carpenter 4-9, Thomas 3-4, McCubbin 2-3, Brookshire 1-3, Haney 0-2). Team Rebounds: 6. Team Turnovers: 1. Blocked Shots: 2 (Daniel, Hammer). Turnovers: 11 (Thomas 5, Brookshire 2, Carpenter, Lax, Loos, McCubbin). Steals: 7 (Brookshire 2, Thomas 2, Carpenter, Daniel, Lax). Technical Fouls: None. Percentages: FG .385, FT .652. 3-Point Goals: 5-13, .385 (Brown 3-4, Lane 2-5, Hamilton 0-1, McMullen 0-1, Nutter 0-2). Team Rebounds: 1. Team Turnovers: None. Blocked Shots: 2 (Edwards, Hamilton). Turnovers: 17 (Brown 6, McMullen 5, Lane 2, Nutter 2, Edwards, Peters). Steals: 7 (Lane 3, Brown 2, Edwards, Nutter). Technical Fouls: None. A_148.
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