The black box recording from a Brazilian plane that crashed, resulting in the deaths of all 62 passengers onboard, has revealed a crucial statement made by the co-pilot just moments before the tragic incident. The flight was en route from Cascavel to Sao Paulo when it plummeted to the ground in a gated community, leaving no survivors. According to local media reports, the audio recording captured the co-pilot expressing the need for more power as the plane experienced a significant loss of altitude in its final minutes. Despite efforts to analyze the black box, authorities have yet to determine the exact cause of the crash. Investigations are ongoing as the aviation accident investigation center in Brazil continues to explore the harrowing details leading up to the devastating event.
Top Companies Dominate Inc. 5000 List with 91,000% Revenue Growth, US
What do you get when you increase revenue by almost 91,000% in a few years? Hopefully, a promotion, but also, your company’s name on a prestigious list!
Our sister publication recently published its list of the fastest-growing startups in America in 2024. These companies have shown exceptional growth in revenue over the past three years, creating nearly 875,000 jobs and generating a whopping $317 billion in revenue.
Among the top ten companies on the list this year are:
– Company A
– Company B
– Company C
– Company D
– Company E
– Company F
– Company G
– Company H
– Company I
– Company J
Additionally, some companies stood out for their innovative approaches and success in challenging markets. Whether it’s breaking into saturated industries, leveraging generative AI, or solving everyday problems, these companies are making waves. It’s inspiring to see how these startups are redefining success and pushing boundaries in the business world.
In a rapidly evolving landscape, these companies are setting new standards for growth and innovation. As they continue to expand and make an impact, the future looks bright for the fastest-growing startups in America.
Cue Biopharma (CUE) Surpasses Q2 Earnings Estimates by 31%, Outlook Strong
Cue Biopharma, Inc. came out with a quarterly loss of $0.20 per share versus the Zacks Consensus Estimate of a loss of $0.29. This represents a 31.03% earnings surprise, with the company surpassing consensus EPS estimates three times in the last four quarters. Cue Biopharma also posted revenues of $2.66 million for the quarter ended in June 2024, exceeding the Zacks Consensus Estimate by 137.96%.
On the other hand, Sol-Gel Technologies Ltd. is expected to report a quarterly loss of $0.20 per share with revenues of $1.06 million, up 78.8% from the year-ago quarter.
Investors are now curious about the future outlook for Cue Biopharma and how it will impact the stock’s performance. With a Zacks Rank #2 (Buy), analysts expect Cue Biopharma to outperform the market in the near future. As for Sol-Gel Technologies, the consensus EPS estimate for the upcoming quarter is stable, but uncertainty remains until the results are released. Both companies operate in the Medical – Biomedical and Genetics industry, which is currently ranked in the top 29% of Zacks industries, suggesting positive prospects for growth.
The next steps for Cue Biopharma and Sol-Gel Technologies will largely depend on their management’s strategies and commentary on the upcoming earnings calls. Investors are advised to closely monitor any changes in earnings estimates and industry trends to make informed decisions regarding these stocks.
In conclusion, Cue Biopharma’s latest financial results demonstrate resilience and potential for future growth, while Sol-Gel Technologies prepares to unveil its performance in the upcoming quarter, setting the stage for further market developments in the Medical sector.
Google to Invest $1 Billion in Texas Cloud Infrastructure Expansion, US
MIDLOTHIAN, Texas – Today, Google announced plans to invest more than $1 billion in Texas this year to support its cloud and data center infrastructure.
Google’s investment in its data center campuses in Midlothian and Red Oak will help meet growing demand for Google Cloud, AI innovations, and other digital products and services that people and organizations use every day, such as Search, Maps, and Workspace.
The Dallas cloud region is part of Google Cloud’s global network of 40 regions that delivers high-performance and low-latency services to large enterprises, startups, and public sector organizations. Customers benefit from key controls that allow them to maintain the highest security, data residency, and compliance standards, including specific data storage requirements.
We’re thrilled to strengthen our commitment to Texas. Expanding our cloud and data center infrastructure in Midlothian and Red Oak reflects our confidence in the state’s ability to lead in the digital economy, said Yolande Piazza, VP, Financial Services, Google Cloud. Together with Texas’s talent and vibrant customer base, we’ll meet growing demand for Google Cloud and AI to help shape the future of technology.
Data centers are the engines behind the growing digital economy. Today’s announcement brings Google’s total investment in Texas to more than $2.7 billion.
In 2023, Google helped provide more than $47 billion in economic activity for hundreds of thousands of Texas businesses, publishers, nonprofits, creators, and developers. To help Texans access the opportunities created by technology, Google has helped train over 1 million residents in digital skills through partnerships with 590 local organizations, including public libraries, chambers of commerce, and community colleges.
Today, Google is also announcing long-term power purchase agreements (PPAs) with Elawan, Engie N.A., Grupo Cobra, and X-ELIO for solar energy based in Texas. Together, these new agreements are expected to provide 375 MW of carbon-free energy capacity, which will help support Google’s operations in Texas.
These agreements were facilitated through LEAP™ to make sourcing and executing clean energy PPAs more efficient, and contributes to the company’s ambitious 2030 goal to run on 24/7 carbon-free energy (CFE) on every grid where it operates. The company has contracted with energy partners to bring more than 2,800 megawatts (MW) of new wind and solar projects to the state. Google’s CFE percentage in the ERCOT grid region, which powers its Texas data centers, nearly doubled from 41% in 2022 to 79% in 2023. As the company continues to grow, it will focus on energy innovation and exploration to implement cutting-edge generation and grid-enhancing technologies, to help build a more advanced grid for the future.
Palestinian Health Ministry in Gaza Reports 40,000+ Killed in Israeli War, Palestinian Territory
The Palestinian Health Ministry in Gaza reported today a devastating new milestone in the ongoing Israeli war on Gaza, officially stating that more than 40,000 Palestinians have been killed since the war began on October 7, 2023. The ministry detailed that 40,005 people have lost their lives in Israeli attacks, with an additional 92,401 wounded.
This comes as mediated talks aimed at achieving a ceasefire in Gaza and negotiating a prisoner-release deal have reconvened in Doha. Officials from Qatar, Egypt, the United States, and Israel are attending the talks, though it remains unclear whether Hamas is directly involved, Reuters reported.
Many news agencies reported on Wednesday that Hamas has stated it would not be participating in the new ceasefire talks. The group insisted on adhering to the previously proposed terms and argue that new negotiations would allow Israel to impose additional conditions and prolong the war.
The number that we’re looking at is conservative. There are still those who are missing, whose whereabouts are unknown by family members. The relatives do not know if their loved ones are detained, buried under the rubble or simply missing, he explained.
Grave-diggers are often forced to stack graves on top of each other, with many marked only by rubble or plastic placards.
To add to this devastation, war has also disrupted existing burial sites. Israeli forces have damaged or destroyed more than 20 cemeteries through airstrikes and ground offensives, according to Al Jazeera.
While mediators convene in Doha to revive truce talks and secure and hostage-prisoner deal, Abu Obeida, the spokesman for Hamas’ military wing, the Qassam Brigades, announced that a fighter guarding an Israeli captive acted in a vengeful manner after learning that his two children had been killed in an Israeli airstrike.
Taking responsibility, Obeida expressed regret over the incident, stating it did not reflect the group’s ethics or religious teachings, and vowed to tighten control over fighters in similar situations.
Lockheed Martin Acquires Terran Orbital in $450M Deal
Expected to close in the fourth quarter, the deal would help Terran dodge a cash-and-debt cliff that the company is staring down. Terran’s cash reserves were less than $15 million at the end of July, it reported in a filing on Monday, and it also has about $300 million in debt.
The small spacecraft maker went public via a special purpose acquisition company in early 2022 at a $1.8 billion valuation. Like several other space stocks that debuted in the past few years, the yet-unprofitable company has been hit hard by the shifting risk environment in the market.
Lockheed Martin is already a significant stakeholder in Terran Orbital, having bought in during the company’s SPAC process and again in late 2022. Lockheed Martin is also an important customer for Terran, making up 70% of Terran’s $30.4 million in revenue during the second quarter.
Terran signed a blockbuster spacecraft production contract 18 months ago from prospective satellite communications operator Rivada Space Networks, worth $2.4 billion for 300 satellites. But the deal has yet to drive meaningful funds for Terran, which reported that it recognized just $6.2 million from the Rivada agreement in the first half of this year.
On Monday, Terran said it was removing the Rivada deal from its total contract backlog — which reduced the backlog of orders by 88%, from $2.7 billion to $312.7 million. Of its non-Rivada orders, 91% of Terran’s contracts are programs associated with Lockheed Martin.
Alarming Spike in Lightning Deaths in India, Decade 2010-2020 Deadliest
New Delhi, Aug 15 (PTI) The decade from 2010 to 2020 has been the deadliest with an alarming spike in deaths due to lightning incidents, according to an analysis of the data shared by the National Crime Records Bureau (NCRB).
The data showed a rise in the average annual fatalities per state and union territory from 38 during 1967-2002 to 61 in the period from 2003-2020, the research showed.
Additionally, average deaths due to lightning in Indian states and union territories (UTs) almost tripled from 28 in 1986 to 81 in 2016, it noted.
A team of researchers, including those from Fakir Mohan University in Odisha, found that lightning caused 1,01,309 deaths between 1967 and 2020, with an alarming development from 2010-2010, showing the highest increase.
The data show an increase in the average annual fatalities per states and UTs from 38 in the period 1967 to 2002, to 61 from 2003 to 2020. Notably, the decade from 2010 to 2020 emerges as the deadliest in terms of lightning incidents, the authors wrote in the study published in the journal Environment, Development and Sustainability.
This amounts to an average of 1,876 deaths annually. The long-term national annual average fatality was 46 per state and UT, ranging from 28 (in 1986) to 81 (in 2016), they added.
Climate change, which is driving extreme conditions, is likely to worsen this situation in the country in the coming years, they said.
Discerning trends at both state and regional levels, the researchers found that Madhya Pradesh registered the highest number of fatalities due to lightning, followed by Maharashtra, Uttar Pradesh, and Odisha.
However, deaths per 1,000 square kilometres of area were found to be the highest in the relatively small states of Bihar (79 deaths), followed by West Bengal (76), and Jharkhand (42), compared to those in larger states, they said.
The Central Indian region has seen a consistent increase in deaths due to lightning since records began in 1967, the authors found.
With highest death rates experienced over the years, the region is the most vulnerable to lightning fatalities, followed by northeast India, which witnessed a pronounced escalation beginning in 2001, they said.
According to the research team, the sharp rise in lightning-related incidents in the northeast can be due to deforestation, depletion of water bodies, global warming, along with increased vulnerability of people as they engage in more outdoor activities.
They also said that the high rates of deaths due to lightning in developing and underdeveloped countries can be attributed to combined effects of these factors — people engaging in labour-intensive activities such as farming during thunderstorms, a low human development index, ineffective early warning systems, among others.
While developing countries such as India may be more prepared against large-scale events such as cyclones, floods and droughts, they are the least prepared at the government level against lightning and heatwaves, the researchers said.
The study also critically evaluated how many states and union territories currently have their lightning policies and action plans in place.
Only seven out of 36 states and UTs have developed these plans to date. Most vulnerable states, including Madhya Pradesh, Odisha, Bihar, West Bengal, Chhattisgarh, Rajasthan, Telangana, Tamilnadu, as well as all northern and northeastern states, have not yet formulated a state lightning action plan as directed by the National Disaster Management Authority, the authors wrote.
They said that while several studies have analysed lightning in the Indian regions using data from ground and spatial sources, fewer studies have looked at deaths due to lightning at state and regional levels.
Australian Employment Surges in July, Jobless Rate Rises: Wage Growth Slows
Australian employment sped past forecasts in July, yet the jobless rate ticked higher to a 2-1/2 year high as worker participation hit a record in a sign labor demand remains solid despite high borrowing costs.
The strong report supports the Reserve Bank of Australia’s assessment that interest rate cuts would be some months off. Markets pared back the chance for an interest rate cut in November to 45 percent, down from 55 percent before the release.
The local dollar perked up 0.2 percent to $0.6610 while three-year bond futures trimmed earlier gains to be flat at 96.51.
Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 58,200 in July from June, when they jumped 52,200. That was well above market forecasts for a 20,000 rise.
Full-time employment surged 60,500, for a third month of strong gains.
The jobless rate, however, ticked up to 4.2 percent, the highest since early 2022 and above forecasts of 4.1 percent, but that was due to more people looking for work. The participation rate rose to an all-time high of 67.1 percent.
The employment and participation measures remain historically high while unemployment and underemployment measures remain historically low, compared with what we saw before the pandemic, said Kate Lamb, ABS head of labor statistics.
This suggests the labor market remains quite tight.
The Reserve Bank of Australia has held its policy steady since November, judging the current cash rate of 4.35 percent – up from the 0.1 percent during the pandemic – is restrictive enough to bring inflation to its target band of 2-3 percent while preserving employment gains.
However, it assessed that the labor market was still running a little tight, one reason that underlying inflation, which was at 3.9 percent last quarter, is only expected to return to the target band by the end of 2025.
Indeed, the July report showed employment rose 3.2 percent from a year ago, around twice the pre-pandemic average. The workforce rose 82,100 in July with the annual growth at 3.8 percent.
Even hours worked rebounded for the second month, up 0.4 percent in July, buckling the recent declining trend.
The RBA has all but ruled out a near-term rate cut. Analysts say it would take a sharp deterioration in the labor market, with falling employment and fast rising jobless rates, for policymakers to cut by Christmas.
Data showed job vacancies continued to fall from elevated levels and wage growth slowed to a one-year low last quarter, although it remained elevated.
This data flies in the face of our dovish expectations, said Krishna Bhimavarapu, APAC economist at State Street Global Advisors.
With inflation coming down and the unemployment rate rising, the RBA may be less compelled to consider another hike, but nonetheless may hold the cash rate at 4.35 percent longer than we expect.
Venture Capital Firm Andreessen Horowitz to Launch First Asian Office in Japan, Shifting Focus from China
PALO ALTO, California — The U.S. venture capital firm Andreessen Horowitz is set to establish its first Asian office in Japan, Nikkei has learned.
The California-based investor aims to incorporate Japanese companies that want to invest in startups. Silicon Valley venture capital firms are increasingly looking to Japan for alternatives to Chinese investors amid rising tensions in the high-tech sector between the U.S. and China.
US Bird-Flu Outbreak in Dairy Cattle Underestimated, Fear of Economic Consequences Discouraging Testing
US undercounts bird flu in cattle as farmers shun testing
WASHINGTON/CHICAGO – The US bird-flu outbreak in dairy cattle is much larger than official figures suggest due to farmers’ reluctance to test their animals, with Reuters interviews revealing concerns of economic consequences. A jump from birds to cows has raised worries that the virus could adapt to spread among humans. With limited surveillance, the ability to respond to further human spread may be weakened.
Thirteen dairy and poultry farm workers have already been infected with bird flu this year, according to the Centers for Disease Control and Prevention.
Experts indicate that the current USDA count of about 190 dairy herds infected in 13 states since March likely underrepresents the true figure as farmers fear the economic hardships of a positive test. The virus causes reduced milk production in cattle, impacting the country’s status as the world’s second-largest cheese producer.
While USDA has encouraged testing, farmers remain hesitant due to doubts about the seriousness of the virus or the perceived lack of adequate government incentives. An educator at Michigan State University noted that Michigan’s count of 27 positive herds is below the actual infection tally, while Colorado’s 63 positive herds are also likely undercounts.
Collaborative efforts in some states such as Michigan and Colorado have been more aggressive in containing the spread, with Colorado becoming the sole state to mandate weekly testing of milk supplies from dairy farms. These proactive measures have identified previously undetected infected herds.
Despite the risks of untracked outbreaks and concerns about distrust among farmers, the necessity for accurate and comprehensive testing remains crucial in safeguarding public health. With various states facing different challenges, a unified approach is essential to combat the spread of bird flu in cattle effectively.
