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NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating: Markforged Holding Corporation (NYSE: MKFG ) , relating to its proposed merger with Nano Dimension Ltd. Under the terms of the agreement, Markforged stockholders will be entitled to receive $5.00 in cash per share of Markforged they own. ACT NOW. The Shareholder Vote is scheduled for December 5, 2024. Click here for more information: https://monteverdelaw.com/case/markforged-holding-corporation/ . It is free and there is no cost or obligation to you. Crossfirst Bankshares, Inc. (Nasdaq: CFB ) , relating to its proposed merger with First Busey Corporation. Under the terms of the agreement, Crossfirst common stock will automatically be converted into the right to receive 0.6675 shares of Busey common stock. ACT NOW. The Shareholder Vote is scheduled for December 20, 2024. Click here for more information https://monteverdelaw.com/case/crossfirst-bankshares-inc/ . It is free and there is no cost or obligation to you. Arch Resources, Inc. (NYSE: ARCH ) , relating to its proposed merger with Consol Energy, Inc. Under the terms of the agreement, all Arch Resources common stock will be automatically converted into the right to receive 1.326 shares of Consol Energy stock. ACT NOW. The Shareholder Vote is scheduled for January 9, 2025. Click here for more information https://monteverdelaw.com/case/arch-resources-inc/ . It is free and there is no cost or obligation to you. NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask: Do you file class actions and go to Court? When was the last time you recovered money for shareholders? What cases did you recover money in and how much? About Monteverde & Associates PC Our firm litigates and has recovered money for shareholders...and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341. Contact: Juan Monteverde, Esq. MONTEVERDE & ASSOCIATES PC The Empire State Building 350 Fifth Ave. Suite 4740 New York, NY 10118 United States of America jmonteverde@monteverdelaw.com Tel: (212) 971-1341 Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC ( www.monteverdelaw.com ). Prior results do not guarantee a similar outcome with respect to any future matter. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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GEORGETOWN, Guyana (CMC) — The outgoing chairman of the Caribbean Community (Caricom), Dickon Mitchell, in his end of year statement, says the regional body has held true to the commitment to decisive leadership and collective action as intrinsic pillars to propel the prosperity and well-being of citizens of the region. Mitchell, who is also the prime minister of Grenada, noted that Caricom’s strong sense of community was especially evident during this year’s Atlantic Hurricane Season, “when Caricom member states rallied to support those who were adversely affected by Hurricane Beryl and other weather systems”. Concerning Haiti, he said the leaders also focused on resuming functional governance and security in the French speaking Caricom member state, through engagement with Haiti’s political leadership and facilitation with political, religious, private sector and civil society stakeholders by the Caricom Eminent Persons Group (EPG). “These engagements with key Haitian stakeholders led to consensus on the formation and installation of a Haitian-owned and led Transitional Presidential Council; selection of a prime minister and a cabinet of ministers; and the arrival of the first troops of the Multinational Security Support (MSS) Mission. The consensus remains very delicate and will require much effort in 2025.” He noted that this year, Antigua and Barbuda hosted the Fourth International Conference on Small Island Developing States (SIDS) from May 27-30, where a new ten-year programme of action, the Antigua and Barbuda Agenda for SIDS, was articulated. There were also key high-level international meetings to address the ongoing challenges of the impact of climate change. “On digital resilience, I was pleased to champion the Strategic Digital Resilience Framework 2030 at the July Meeting of Caricom Heads of Government. This was supported by existing plans for the Caricom Single ICT (information and communication technology) Space, including digital skills and artificial intelligence. Further bold and decisive action is particularly crucial as we prepare for 2025 and beyond, where the pace of regional and global change will demand a Caricom that is digitally capable and resilient.” In the area of food and nutrition security, the Grenadian Prime minister said a regional agricultural insurance product was launched to assist Caricom farmers. “We ensured the involvement of women and young people with Caricom BOOST, a two-year, $1.6 million project to enhance sustainable production, climate resilience, and profitability for women and youth farmer groups across ten Caricom member states; and with a Regional Youth in Agriculture Strategy focusing on education, capacity-building and market linkages.” “Allied to the objective of reducing our food import bills has been our effort to increase air and maritime connectivity to support, among other things, the regional transportation of food.” He noted that the Multilateral Air Services Agreement (MASA) is now in force in almost all member states and there has been significant increase in regional airlift and connectivity. In addition, progress has been made on sea transportation following the announcement from Guyana, Barbados and Trinidad and Tobago of a new ferry service. The outgoing chairman said that underpinning all these activities has been attention to health and well-being, human and cultural capital development, youth participation, empowerment and development, and crime prevention and justice reform. He said that key activity was the Second Regional Symposium on Crime and Violence, hosted by Barbados in Guyana in November, which advanced critical knowledge sharing on successful preventative interventions for crime and violence in the Caribbean. In the area of partnerships with third states, Mitchell pointed to the hosting of several successful high-level engagements to discuss cooperation including a Summit with the Republic of India, an engagement with Brazil, meetings with Canada and Japan, and representation in critical international fora such as the Fourth International SIDS Conference, the Commonwealth Heads of Government Meeting in Samoa, COP29 in Azerbaijan, the United Nations Summit of the Future, and the 79th Session of the UN General Assembly in New York. “Through it all, our modus operandi has been to speak with one voice and to premise all our interactions on the vision of a Caribbean Community, which is truly “a community for all”. “I extend my sincere appreciation to my colleagues of the conference which now includes the new premier of Montserrat and the prime minister of Curaçao, the newest associate member of the community, for their unstinting support and commitment. Thanks are also due to public and private sector leaders of the community, representatives from labour and civil society, regional institutions, international development partners, my team in Grenada, and the secretary-general and staff of the Caricom Secretariat for their commitment to the vision of an integrated and thriving Caribbean Community.” Mitchell who is passing on the chairmanship to the Prime Minister of Barbados, Mia Amor Mottley, said he has every confidence that “she will enjoy the same stellar support that I have received, and that under her astute leadership, our community will decisively further our integration goals”. “I wish for all Caricom a happy and meaningful holiday season, and peace and prosperity in 2025.”
Unpacking the Relationship Between Market Sentiment and Crypto Prices 12-13-2024 08:46 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: ABNewswire The cryptocurrency market is a wild ride, filled with dizzying highs and gut-wrenching lows. Yet, amid this rollercoaster of volatility, one often overlooked factor significantly influences these price swings: market sentiment. Unlike traditional financial markets, where fundamentals and technical analysis often lead the charge, the crypto space dances to the tune of investor emotions and perceptions. Image: https://revbit.net/wp-content/uploads/2024/12/market-sentiment-1024x640.png Understanding Market Sentiment in the Cryptocurrency Market In the world of cryptocurrencies [ https://revbit.net/ ], market sentiment plays a pivotal role that goes beyond traditional metrics. It's the collective mood or attitude of investors toward a specific asset, and it can turn the tide of trading activity in an instant. Emotions run high in the crypto space, and they often dictate the ebb and flow of market dynamics far more than hard data might suggest. Market sentiment analysis is instrumental in capturing this emotional pulse. Investors actively use sentiment indicators to gauge whether the mood is bullish or bearish. Social media sentiment, in particular, serves as a powerful barometer. Platforms like Twitter, Reddit, and Telegram are teeming with discussions that can sway market sentiment in a heartbeat. An influencer's tweet or a viral post can ignite a buying frenzy or spark panic selling. Public statements and news events also hold immense sway over market sentiment. A regulatory announcement or a corporate endorsement can shift perceptions overnight, underscoring the volatility tied to sentiment in the crypto market. Investors rely on sentiment indices to track these changes, enabling them to adapt quickly to the ever-shifting landscape. To truly understand market sentiment, one must delve into sentiment analysis tools. These tools provide a window into the collective emotions of online investors. By analyzing sentiment data, traders can predict potential market movements, offering a strategic edge in navigating the unpredictable crypto waters. Impact of Sentiment on Crypto Prices The influence of sentiment on crypto prices is both profound and immediate. Positive sentiment often acts as a catalyst, propelling prices to new heights. When the market buzzes with optimism, investors rush to buy, resulting in a surge of demand that pushes prices upward. On the flip side, negative sentiment can trigger a swift and dramatic decline, as fear and uncertainty prompt investors to sell off their holdings. Investor sentiment doesn't just affect prices; it fuels market volatility. The cryptocurrency market is notorious for its price swings, and much of this volatility can be attributed to the emotional reactions of investors. When sentiment shifts suddenly, it can lead to frenzied buying or selling, driving prices to fluctuate wildly. Price trends in the crypto market often mirror these sentiment shifts. When sentiment turns sour, traders may hastily adjust their portfolios, exacerbating the downward momentum. Conversely, a wave of positive sentiment can lead to a buying spree, sending prices soaring. These emotional responses can significantly impact trading decisions, influencing buying and selling patterns in the market. Ultimately, understanding how sentiment drives price movements is crucial for any crypto investor. By keeping a finger on the pulse of investor sentiment, traders can make more informed decisions, anticipate market changes, and potentially capitalize on the resulting price movements. Role of Sentiment Indicators in Crypto Trading Sentiment indicators are invaluable tools in the arsenal of crypto traders. They offer insights into the psychological landscape of the market, helping traders identify potential entry and exit points. Sentiment analysis tools, such as sentiment indices and sentiment analysis platforms, provide a quantitative measure of market mood. Traders often turn to social media sentiment indicators [ https://revbit.net/ ] to spot emerging trends. These indicators aggregate and analyze data from social media platforms, revealing shifts in investor sentiment. By tracking social media sentiment, traders can get ahead of the curve and identify opportunities before they become mainstream. News sentiment indicators play a different but equally important role. By analyzing the tone and content of news articles, these indicators help traders anticipate market reactions to major news events. Whether it's a regulatory announcement or a technological breakthrough, news sentiment indicators provide valuable insights into how the market might respond. Moreover, the volume of transactions often correlates with sentiment indicators. When sentiment is bullish, trading volume tends to increase as more investors enter the market. Conversely, bearish sentiment can lead to a decrease in trading activity. By monitoring these indicators, traders can gain a deeper understanding of market dynamics and make more strategic trading decisions. Historical Analysis of Sentiment and Cryptocurrency Returns Historical data reveals a compelling relationship between sentiment and cryptocurrency returns. Time and again, shifts in sentiment have aligned with significant price movements in the crypto market. By examining past sentiment trends, investors can gain valuable insights into the potential future direction of prices. For example, major news events have historically coincided with shifts in crypto prices. Whether it's a government announcement, a technological advancement, or a high-profile endorsement, these events often trigger changes in sentiment that ripple through the market. By analyzing historical sentiment data, investors can identify patterns in how the market has responded to similar events in the past. Historical sentiment analysis also uncovers patterns in investor behavior. By studying past sentiment trends, investors can gain a better understanding of how emotions drive market movements. These insights can inform future trading strategies, helping investors anticipate shifts in sentiment and adjust their portfolios accordingly. Furthermore, long-term market sentiment trends can indicate potential investment opportunities. By analyzing historical data, investors can identify consistent patterns in sentiment that may signal future price movements. This analysis can provide a strategic edge, allowing investors to make more informed decisions and potentially capitalize on emerging trends. Case Studies on Sentiment Analysis in Crypto Trading Real-world case studies offer valuable insights into the impact of sentiment on crypto prices. The 2017 Bitcoin bull run, for instance, is a prime example of positive sentiment driving prices to unprecedented heights. As optimism and enthusiasm swept through the market, Bitcoin's price surged, reaching new all-time highs. This case study highlights the power of positive sentiment in fueling price increases. Conversely, the 2018 crypto market crash underscores the effects of negative sentiment. As fear and uncertainty gripped investors, panic selling ensued, leading to a dramatic decline in prices. This case study illustrates how negative sentiment can trigger rapid price declines and underscores the importance of monitoring sentiment shifts. Successful traders often use sentiment [ https://revbit.net/ ] analysis to enhance their trading strategies. By analyzing sentiment data, they can make more informed decisions, identify potential entry and exit points, and adapt to changing market conditions. These case studies demonstrate the value of sentiment analysis in navigating the volatile crypto market. By examining past case studies, investors can gain a deeper understanding of sentiment dynamics. These real-world examples provide valuable lessons that can inform future trading strategies. By learning from the successes and failures of past investors, traders can enhance their own decision-making processes. Importance of Sentiment Indicators in Predicting Price Movements Sentiment indicators frequently serve as a precursor to price changes in the crypto market. By analyzing sentiment data, traders can anticipate shifts in market dynamics before they occur. This predictive power makes sentiment indicators an essential tool for any investor looking to stay ahead of the curve. Predictive models often incorporate [ https://revbit.net/blog/guide/market-sentiment]sentiment indicators to enhance accuracy. By combining sentiment data with other technical indicators, traders can develop more robust models that offer a clearer picture of potential price movements. This integration allows traders to make more informed decisions and potentially capitalize on emerging trends. Traders rely on sentiment indicators to anticipate market volatility. By monitoring shifts in sentiment, they can identify periods of increased volatility and adjust their trading strategies accordingly. This proactive approach helps traders navigate the unpredictable nature of the crypto market. Accurate sentiment analysis can also enhance investment decision-making. By understanding the mood of the market, traders can make more informed decisions about when to buy or sell. This understanding can give traders a competitive edge, allowing them to capitalize on opportunities that others might overlook. Tools and Strategies for Analyzing Market Sentiment in the Crypto Market To effectively analyze market sentiment, investors often turn to a variety of sentiment analysis tools. Social media monitoring platforms are a popular choice, as they provide real-time insights into the collective emotions of online investors. By tracking discussions on platforms like Twitter and Reddit, traders can identify emerging trends and adjust their strategies accordingly. News aggregators also play a crucial role in sentiment analysis. These platforms compile and analyze news articles from various sources, offering insights into shifts in market sentiment. By staying informed about the latest developments, investors can anticipate changes in sentiment and adjust their portfolios accordingly. Automated trading bots frequently utilize sentiment data to execute trading strategies. By analyzing sentiment indicators, these bots can make real-time trading decisions, capitalizing on shifts in market sentiment. This automation allows investors to take advantage of opportunities that might otherwise go unnoticed. Investors often combine sentiment analysis with technical analysis for better results. By integrating sentiment data with traditional technical indicators, traders can develop more comprehensive trading strategies. This combination provides a more holistic view of the market, allowing investors to make more informed decisions. Future Trends in Sentiment Analysis and its Impact on Crypto Prices The future of sentiment analysis in the cryptocurrency market looks promising. Advancements in AI and machine learning are poised to revolutionize sentiment analysis, offering more accurate and granular insights into market dynamics. These technological advancements will refine trading strategies and provide investors with a competitive edge. The integration of big data will further enhance sentiment analysis accuracy. By analyzing vast amounts of data from various sources, sentiment analysis tools can offer a more comprehensive view of market sentiment. This integration will allow traders to make more informed decisions and potentially uncover new market opportunities. Emerging technologies will continue shaping sentiment analysis methodologies. As new tools and techniques are developed, traders will have access to more sophisticated sentiment analysis capabilities. These advancements will allow investors to stay ahead of the curve and capitalize on emerging trends. In conclusion, sentiment plays a crucial role in the cryptocurrency market, influencing price movements and shaping investor behavior. By understanding and analyzing market sentiment, traders can make more informed decisions and potentially capitalize on emerging opportunities. As sentiment analysis tools and techniques continue to evolve, they will offer even greater insights into the complex dynamics of the crypto market. How will you leverage these insights to enhance your trading strategy and stay ahead in the fast-paced world of cryptocurrencies? Disclaimer: This release may contain forward-looking statements [ https://revbit.net/ ]. Forward-looking statements describe future expectations, plans, results, or strategies and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. Media Contact Company Name: Revbit Email:Send Email [ https://www.abnewswire.com/email_contact_us.php?pr=unpacking-the-relationship-between-market-sentiment-and-crypto-prices ] Country: Seychelles Website: https://revbit.net/?utm_source=abnw This release was published on openPR.
Two days after Adani Group chairperson Gautam Adani was indicted on bribery charges in the US, the conglomerate's CFO, Jugeshinder Robbie Singh, said that none of Adani Group portfolio companies have been accused of any wrongdoing. In a post on X, Singh said the group would make a detailed comment on the US indictment once it gets approvals from its counsel. “Adani Group has a portfolio of 11 public companies and none are subject to indictment (i.e defendants in any legal proceedings in the recent DOJ lawyer filings to a court in NYC),” Singh wrote. “None of the issuers ( i.e companies in our portfolio or specific issuers that are subsidiaries of the public companies) are accused of any wrongdoing in the said legal filing.” He also added that no court has ruled on the indictment, and as outlined by lawyers of the US Department of Justice, these are "allegations and the accused have a presumption of innocence". “There is a lot of news and reports that will try to pick unrelated items and create a headline. My humble request is that we will respond in fullness of time once we review in detail the matter as presented in the legal filing,” Singh said. Also Read | What next for billionaire Gautam Adani, charged with bribery in US? The Adani Family has 11 listed entities on the Indian stock exchanges - flagship incubator Adani Enterprises Ltd, electricity producer Adani Power Ltd, ports company Adani Ports & SEZ, power transmission firm Adani Energy Solutions Limited, renewable arm Adani Green Energy Ltd (AGEL), city gas distributor Adani Total Gas Ltd, commodities firm Adani Wilmar Ltd, media firm New Delhi Television Ltd and cement companies Ambuja Cements Limited, ACC Ltd, and Sanghi Industries Ltd. Gautam Adani's indictment The US Department of Justice has indicted Gautam Adani, the founder of Adani Group, his nephew Sagar Adani, and other senior Adani Green executives for allegedly bribing or offering bribes to the tune of $265 million to Indian state government officials to get them to sign solar power contracts. The US case rests on the premise that Adani Green bribed government officials in Odisha and Andhra Pradesh, and possibly Tamil Nadu, Chhattisgarh, and Jammu and Kashmir (J&K), to get their power distribution companies (discoms) to commit to purchasing solar power at above market rates. Also Read | Kenya cancels airport, energy deals with Adani Group US authorities allege that the bribes paid were concealed from the US banks and investors from whom the Adani group raised billions of dollars for the projects that were to supply 12 gigawatts (GW) of solar power. US law allows pursuing foreign corruption allegations if they involve certain links to American investors or markets. Adani group has denied the charges and called them “baseless”. The company has asserted that it is fully compliant with all laws.
Kohl’s ( NYSE:KSS – Free Report ) had its target price trimmed by TD Cowen from $20.00 to $16.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock. KSS has been the subject of several other research reports. Gordon Haskett lowered shares of Kohl’s from a “hold” rating to a “reduce” rating and set a $11.00 target price for the company. in a research note on Tuesday. JPMorgan Chase & Co. downgraded shares of Kohl’s from a “neutral” rating to an “underweight” rating and set a $19.00 price objective for the company. in a research report on Thursday, August 29th. Morgan Stanley cut their target price on shares of Kohl’s from $17.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 25th. Citigroup decreased their target price on Kohl’s from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Finally, Guggenheim dropped their price target on Kohl’s from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.22. Check Out Our Latest Report on Kohl’s Kohl’s Price Performance Kohl’s ( NYSE:KSS – Get Free Report ) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). Kohl’s had a return on equity of 6.44% and a net margin of 1.47%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, research analysts anticipate that Kohl’s will post 1.35 earnings per share for the current fiscal year. Kohl’s Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Wednesday, December 11th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 13.34%. The ex-dividend date of this dividend is Wednesday, December 11th. Kohl’s’s dividend payout ratio is currently 90.09%. Insider Transactions at Kohl’s In related news, EVP Feeney Siobhan Mc sold 16,367 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $19.27, for a total value of $315,392.09. Following the completion of the sale, the executive vice president now owns 136,799 shares of the company’s stock, valued at $2,636,116.73. This represents a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website . Company insiders own 0.86% of the company’s stock. Hedge Funds Weigh In On Kohl’s Several large investors have recently bought and sold shares of the stock. Tidal Investments LLC increased its stake in shares of Kohl’s by 23.0% during the first quarter. Tidal Investments LLC now owns 15,942 shares of the company’s stock valued at $465,000 after acquiring an additional 2,982 shares during the period. EMC Capital Management raised its stake in shares of Kohl’s by 231.8% in the 1st quarter. EMC Capital Management now owns 7,891 shares of the company’s stock worth $230,000 after buying an additional 5,513 shares in the last quarter. CWM LLC lifted its holdings in shares of Kohl’s by 97.1% in the second quarter. CWM LLC now owns 1,924 shares of the company’s stock valued at $44,000 after buying an additional 948 shares during the period. Annex Advisory Services LLC boosted its stake in Kohl’s by 19.5% during the second quarter. Annex Advisory Services LLC now owns 196,637 shares of the company’s stock valued at $4,521,000 after buying an additional 32,034 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its stake in Kohl’s by 2.4% during the second quarter. Gilman Hill Asset Management LLC now owns 320,070 shares of the company’s stock valued at $7,358,000 after buying an additional 7,419 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock. About Kohl’s ( Get Free Report ) Kohl’s Corporation operates as an omnichannel retailer in the United States. It offers branded apparel, footwear, accessories, beauty, and home products through its stores and website. The company provides its products primarily under the brand names of Croft & Barrow, Jumping Beans, SO, Sonoma Goods for Life, and Tek Gear, as well as Food Network, LC Lauren Conrad, Nine West, and Simply Vera Vera Wang. Recommended Stories Receive News & Ratings for Kohl's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kohl's and related companies with MarketBeat.com's FREE daily email newsletter .AP Sports SummaryBrief at 5:08 p.m. ESTTaiwan People’s Party Chairman Ko Wen-je, center, is escorted out of the Taipei District Court in Taipei yesterday after being released on NT$30 million bail.Photo: CNA TERMS:The TPP chairman is barred from changing his residence, departing the nation and having one-on-one meetings with defendants and witnesses By Lee Wen-hsin and Jason Pan / Staff reporters 請繼續往下閱讀... The Taipei District Court yesterday released Taiwan People’s Party (TPP) Chairman Ko Wen-je (柯文哲) on bail of NT$30 million (US$916,870), rejecting a request by prosecutors to extend his incommunicado detention. The request came after prosecutors on Thursday indicted Ko on charges of bribery and corruption in connection with real-estate dealings during his second term as Taipei mayor from 2018 to 2022. Ko is accused of accepting bribes of up to NT$17.1 million to help real-estate company Core Pacific Group (威京集團) illegally increase the floor area ratio of the Core Pacific City Co (京華城) redevelopment project in a bid to raise the financial value of the property. Ko is also accused of embezzling more than NT$68 million of political donations during his campaign for this year’s presidential election and illegally using donations to a foundation, established by Ko in 2022, to pay the salaries of his campaign staff. Prosecutors are seeking a prison sentence of 28 years, 6 months for Ko — 15 years for bribery, 5 years and 6 years for separate cases of embezzlement, and 2 years, 6 months for breach of public trust. While the court allowed Ko to be released on bail, he is barred from changing his residence or departing the nation. He is also not permitted to have contact with defendants and witnesses who gave testimony in the case. “Since Ko still serves as TPP chairman, he would preside over some party meetings, and has the need to engage in normal interactions at the workplace. Therefore he is permitted to have contact with other defendants and witnesses in the case, but he must not meet them in one-on-one situations, nor is he allowed to call a meeting to discuss issues pertaining to the case,” the Taipei District Court said in a statement. Prior to Thursday’s indictment, Ko had been imprisoned without charge since Sept. 5. After TPP officials paid the bail, Ko walked out of the Taipei District Court at about 1pm yesterday to a crowd of cheering TPP supporters. The former Taipei mayor left in a car and returned to his Taipei residence, where reporters were awaiting his arrival. Ko spoke briefly to the reporters. “I thank God for giving me the chance to reflect on my life,” he said, adding that the case had not filled his heart with hatred. “I still believe in myself — I am not the kind of person to engage in illegal profiteering, corruption and unlawful activities.” Ko at 2:30pm, accompanied by his wife, Peggy Chen (陳佩琪), and TPP official Chiu Chen-yuan (邱臣遠), who serves as Hsinchu interim mayor, drove to Zhubei City (竹北) to see his father, who is receiving medical treatment for cancer at National Taiwan University Hospital’s Hsinchu branch. Taipei prosecutors said they would appeal the release and file another motion to place Ko in pretrial detention, although they would do so only after receiving the official court documents. Prosecutors are likely to file a motion to detain Ko based on the likelihood of him destroying evidence or colluding in testimony with others in the case. The court yesterday also released four other defendants in the Core Pacific City case — former Taipei deputy mayor Pong Cheng-sheng (彭振聲), Taipei City Councilor Angela Ying (應曉薇), Sheen Ching-jing (沈慶京), founder and chairman of Core Pacific Group, and Lee Wen-tsung (李文宗), finance chief of Ko’s presidential election campaign. Pong was released on bail of NT$5 million, Ying NT$15 million, Sheen NT$40 million and Lee NT$10 million. Additional reporting by CNA 新聞來源: TAIPEI TIMES 不用抽 不用搶 現在用APP看新聞 保證天天中獎 點我下載APP 按我看活動辦法
Nautilus Biotechnology (NASDAQ:NAUT) Stock Price Up 0.8% – Should You Buy?
City planners are going to rethink their proposal to build a new transit maintenance facility near the existing public works yard after neighbors in the adjacent residential area urged the Tracy Planning Commission to reject the proposal. The city had considered turning a long-vacant 9.88-acres on four parcels along Beechnut Avenue into a transit maintenance yard, which would be across Tracy Boulevard from the Boyd Service Center, the city’s main public works yard. City of Tracy Project Planner Craig Hoffman reported that the property would have to be rezoned from medium-density residential to light industrial before the city could apply for Federal Transit Administration money to pay for construction of the facility. Following a discussion before the Planning Commission on Dec. 4, with planners unanimously rejecting the rezoning, and consideration of the neighborhood protest, city planners will seek out an alternative site. The project would include three buildings, including a maintenance building and administration building along Tracy Boulevard, and a public works building on Forest Hill Drive. It would also include parking lots for the city’s TRACER buses, with photovoltaic panels as a canopy, and fueling areas, including a hydrogen fueling station and electric vehicle charging stations. The facility would be used only by city staff and contractors. The property is owned by Chevron. It previously had been the site of an oil pipeline/pump station that transported crude oil through the area until the mid-1960s. All equipment associated with that operation has since been removed, and as of 2018 the Central Valley Regional Water Quality Control Board had issued “no further action required” letters to Chevron, affirming that the land is suitable for commercial/industrial uses, with some parts of the property also suitable for residential development. City Transit Manager Ed Lovell told the planning commission that the city doesn’t have a facility sufficent for maintenance of large vehicles, adding that as the city transitions its TRACER buses to zero-emission operation, like hydrogen and electric, it will need to add infrastructure for that technology. Hoffman added that the main question for the commission – which was asked to approve a general plan amendment, rezoning and approval of the environmental review -- was whether the development of a transit maintenance facility was compatible with neighboring uses. Neighbors told the commission that the presence of the Boyd Service Center nearby gives them an idea of what they could expect, with bright lights from the center and the noise of vehicles coming and going already a constant presence. Some also expressed concern about the flammable nature of hydrogen gas. Neighbors also noted that because the land is presently zoned for residential development, they expected it would eventually have more homes, possibly even a park. When commissioners had a chance to comment, Commissioner Gurtej Atwal asked planning staff if the city owns other sites suitable for industrial development around town, and if had they been considered. Forrest Ebbs, Director of Community and Economic Development, replied that there are, including a 52-acre city-owned property on Chrisman Road just north of 11th Street. He added that in order for homes to be built on the Beechnut Avenue site the city would require a more intensive review of the condition of the soil there, and possibly further cleanup. Commissioner Nasir Boakye-Boateng made a motion to approve the project, with Atwal seconding the motion, but all five commissioners voted against the motion. City Planning Manager Scott Claar noted that while city staff could have taken the project to the Tracy City Council, given the planning commission’s rejection and neighborhood opposition planning staff will seek out another site that’s more likely to meet with approval. • Contact Bob Brownne at brownne@tracypress.com , or call 209-830-4227.