Latest news with #CORE
Agriland
2 days ago
- Automotive
- Agriland
AGCO launch CORE80 engine amid confusion over power
AGCO has further extended its CORE series of engines with the introduction of the CORE80, a six-cylinder unit with a claimed output – in its initial state of tune – of 330hp and 1,680Nm of torque. This is, so far, the largest of the CORE engine family, which was designed from the outset to run on a wide variety of fuels, thus ensuring that it will be able to cope with whatever may be used as an alternative to diesel fuel going forward. AGCO invested over €1 billion in creating this engine alongside a new assembly facility at its engine plant in Finland. CORE80 performance AGCO claim that the CORE80 offers 15% more torque and 12% more power than the successful CORE75, a slightly smaller engine, yet there appears to be some confusion as to quite how much the new 8L engine produces. AGCO's Linnavuori engine plant has been home to many significant agricultural diesel developments over the years AGCO list the CORE 75 as having 250kW (340hp) while the CORE80 is stated in the description as offering. 252kW (343hp). However, elsewhere, AGCO tell us that there is a 12% increase in power with the extra half litre of displacement, which suggests that the CORE80 should have 280kW (381hp) on tap. It is hoped that AGCO might offer some clarification on this point. Brake saving This is the first engine in the CORE family to feature an engine brake integral to its Variable Geometry Turbocharger (VGT), providing 90kW of braking effort. This saves wear and tear on the mechanical braking system as well as helping prevent them overheating under load. Being designed as an off-road engine has allowed for a more robust construction, as there are not the same weight constraints as with road engines. It has fewer parts and does not require exhaust gas eecirculation as part of its stage V emission controls. Fendt is the only company within the AGCO group to be using the CORE engines at present There is also an over-the-air connection to its engine control unit, enabling remote diagnostics, easy monitoring and straightforward updates. This has the potential to improve reliability and simplify fleet management. As yet, there is no indication as where it will be seen first, although Fendt is the only AGCO marque to use the CORE series engines so far amongst the AGCO brands.
CNBC
3 days ago
- Politics
- CNBC
Inside the scramble to keep FEMA alive ahead of hurricane season
Publicly, Homeland Security Secretary Kristi Noem has said the Federal Emergency Management Agency needs to be reoriented or even done away with altogether. "We are eliminating FEMA," Noem said at a televised meeting of President Donald Trump's Cabinet in March. But with hurricane season about to start, Noem has been quietly pushing behind the scenes to keep key employees in place and to approve reimbursements to states previously hit by disaster, sources familiar with the situation told NBC News. Trump himself talked about possibly "getting rid of" FEMA shortly after he was inaugurated for his second term, while he was touring North Carolina to see areas of the state damaged by Hurricane Helene. There has been no public indication that his administration, including Noem, is reconsidering that stance — indeed, the administration's original acting FEMA administrator, Cameron Hamilton, was removed from the job one day after he testified at a congressional hearing that he does not think "it is in the best interests of the American people to eliminate" FEMA. Tricia McLaughlin, a Department of Homeland Security spokesperson, has told NBC News that the move was not a response to his testimony. There does, however, appear to be some internal recognition that, absent a plan ready for how the country would move forward without FEMA, important elements of the agency and its work have to remain in place for now. According to internal documents reviewed by NBC News, on May 19, Noem approved a request from newly installed acting FEMA Administrator David Richardson to retain 2,652 employees whose terms had been set to expire between April and December. The employees are part of FEMA's Cadre of On-Call Response/Recovery Employees (CORE) group, for which people are always hired for specific periods of two to four years; their departures this year would have left FEMA without a large number of key employees during hurricane season. According to a report by the Government Accountability Office, FEMA had 8,802 total CORE employees as of fiscal year 2022. A FEMA employee told NBC News that the workforce seemed surprised and pleased that Noem decided to keep the CORE employees on during hurricane season after the administration had moved to cut them. The same week FEMA was moving to keep those key employees in place, the White House was suddenly approving disaster recovery reimbursement requests from 10 states, including some that had been stalled for months, accounting for 20% of all such approvals in Trump's second term, according to FEMA disaster approval data online. Three sources familiar with Noem's recent actions say she has taken an outsized role compared with previous secretaries in pushing the White House to support FEMA and reimburse states. State and local governments are entitled by statute to have 75% of their costs for disasters reimbursed by the federal government. Anything above that is determined by a fixed formula or, if the formula's requirements are not met, by the president. In the past, the White House generally approved what FEMA officials determined was appropriate based on those formulas, leaving the homeland security secretary to function largely as a rubber stamp, according to two sources familiar with the disaster approval process. But with the White House pushing to downsize FEMA's role and encourage more states to bail themselves out, at least as of last week, the White House had repeatedly pushed back against FEMA's recommendations, according to one of the sources familiar with Noem's recent actions. And Noem had gotten involved. Asked for comment on this article, McLaughlin, the DHS spokesperson, said in a statement: "This is a sad attempt by the mainstream media to drive a false narrative that there is daylight between President Trump and Secretary Noem. To the media's chagrin, there's not. Secretary Noem has been implementing President Trump's vision for the future of FEMA to shift it away from a bloated, DC-centric bureaucracy that has let down the American people." Because previous administrations typically approved reimbursements that FEMA determined should be made, states might not have the ability to shoulder the burden without having planned for it years in advance. "For a state like North Carolina, it's significant. And in a state like Alabama or Mississippi, it would bankrupt the state," said Michael Coen, who was chief of staff at FEMA during the Biden administration. "They would have to take out a bond. They would have to look at how they increase tax revenue. For some of these states, it might be twice what their annual budget is for the year. So when the DHS secretary or White House is saying states are going to have to own the problem ... these states are going to need to have a different mindset for how they budget." Though the CORE employees are being kept on, a large number of FEMA's senior executives have left this year, largely voluntarily, raising concerns internally and among outside observers and members of Congress about its ability to respond during hurricane season. Sixteen senior officials whose departures were announced in an internal email last week had a combined 228 years of experience at FEMA. Four additional senior executive departures were announced Wednesday in an email from the acting chief of staff at FEMA, who is herself set to step down. "It's like having a relay team, and instead of having six members you've only got four, and yeah, you can do it, but those four runners are going to have to run more than they're trained for," the FEMA employee said.
Yahoo
3 days ago
- Business
- Yahoo
Inside the scramble to keep FEMA alive ahead of hurricane season
Publicly, Homeland Security Secretary Kristi Noem has said the Federal Emergency Management Agency needs to be reoriented or even done away with altogether. 'We are eliminating FEMA,' Noem said at a televised meeting of President Donald Trump's Cabinet in March. But with hurricane season about to start, Noem has been quietly pushing behind the scenes to keep key employees in place and to approve reimbursements to states previously hit by disaster, sources familiar with the situation told NBC News. Trump himself talked about possibly 'getting rid of' FEMA shortly after he was inaugurated for his second term, while he was touring North Carolina to see areas of the state damaged by Hurricane Helene. There has been no public indication that his administration, including Noem, is reconsidering that stance — indeed, the administration's original acting FEMA administrator, Cameron Hamilton, was removed from the job one day after he testified at a congressional hearing that he does not think 'it is in the best interests of the American people to eliminate' FEMA. Tricia McLaughlin, a Department of Homeland Security spokesperson, has told NBC News that the move was not a response to his testimony. There does, however, appear to be some internal recognition that, absent a plan ready for how the country would move forward without FEMA, important elements of the agency and its work have to remain in place for now. According to internal documents reviewed by NBC News, on May 19, Noem approved a request from newly installed acting FEMA Administrator David Richardson to retain 2,652 employees whose terms had been set to expire between April and December. The employees are part of FEMA's Cadre of On-Call Response/Recovery Employees (CORE) group, for which people are always hired for specific periods of two to four years; their departures this year would have left FEMA without a large number of key employees during hurricane season. According to a report by the Government Accountability Office, FEMA had 8,802 total CORE employees as of fiscal year 2022. A FEMA employee told NBC News that the workforce seemed surprised and pleased that Noem decided to keep the CORE employees on during hurricane season after the administration had moved to cut them. The same week FEMA was moving to keep those key employees in place, the White House was suddenly approving disaster recovery reimbursement requests from 10 states, including some that had been stalled for months, accounting for 20% of all such approvals in Trump's second term, according to FEMA disaster approval data online. Three sources familiar with Noem's recent actions say she has taken an outsized role compared with previous secretaries in pushing the White House to support FEMA and reimburse states. State and local governments are entitled by statute to have 75% of their costs for disasters reimbursed by the federal government. Anything above that is determined by a fixed formula or, if the formula's requirements are not met, by the president. In the past, the White House generally approved what FEMA officials determined was appropriate based on those formulas, leaving the homeland security secretary to function largely as a rubber stamp, according to two sources familiar with the disaster approval process. But with the White House pushing to downsize FEMA's role and encourage more states to bail themselves out, at least as of last week, the White House had repeatedly pushed back against FEMA's recommendations, according to one of the sources familiar with Noem's recent actions. And Noem had gotten involved. Asked for comment on this article, McLaughlin, the DHS spokesperson, said in a statement: 'This is a sad attempt by the mainstream media to drive a false narrative that there is daylight between President Trump and Secretary Noem. To the media's chagrin, there's not. Secretary Noem has been implementing President Trump's vision for the future of FEMA to shift it away from a bloated, DC-centric bureaucracy that has let down the American people.' Because previous administrations typically approved reimbursements that FEMA determined should be made, states might not have the ability to shoulder the burden without having planned for it years in advance. 'For a state like North Carolina, it's significant. And in a state like Alabama or Mississippi, it would bankrupt the state,' said Michael Coen, who was chief of staff at FEMA during the Biden administration. 'They would have to take out a bond. They would have to look at how they increase tax revenue. For some of these states, it might be twice what their annual budget is for the year. So when the DHS secretary or White House is saying states are going to have to own the problem ... these states are going to need to have a different mindset for how they budget.' Though the CORE employees are being kept on, a large number of FEMA's senior executives have left this year, largely voluntarily, raising concerns internally and among outside observers and members of Congress about its ability to respond during hurricane season. Sixteen senior officials whose departures were announced in an internal email last week had a combined 228 years of experience at FEMA. Four additional senior executive departures were announced Wednesday in an email from the acting chief of staff at FEMA, who is herself set to step down. 'It's like having a relay team, and instead of having six members you've only got four, and yeah, you can do it, but those four runners are going to have to run more than they're trained for,' the FEMA employee said. CORRECTION (May 29, 2025, 10:04 p.m. ET): An earlier version of this article misspelled the last name of a former FEMA chief of staff. He is Michael Coen, not Cohen. This article was originally published on
NBC News
3 days ago
- Politics
- NBC News
Inside the scramble to keep FEMA alive ahead of hurricane season
Publicly, Homeland Security Secretary Kristi Noem has said the Federal Emergency Management Agency needs to be reoriented or even done away with altogether. 'We are eliminating FEMA,' Noem said at a televised meeting of President Donald Trump's Cabinet in March. But with hurricane season about to start, Noem has been quietly pushing behind the scenes to keep key employees in place and to approve reimbursements to states previously hit by disaster, sources familiar with the situation told NBC News. Trump himself talked about possibly 'getting rid of' FEMA shortly after he was inaugurated for his second term, while he was touring North Carolina to see areas of the state damaged by Hurricane Helene. There has been no public indication that his administration, including Noem, is reconsidering that stance — indeed, the administration's original acting FEMA administrator, Cameron Hamilton, was removed from the job one day after he testified at a congressional hearing that he does not think 'it is in the best interests of the American people to eliminate' FEMA. Tricia McLaughlin, a Department of Homeland Security spokesperson, has told NBC News that the move was not a response to his testimony. There does, however, appear to be some internal recognition that, absent a plan ready for how the country would move forward without FEMA, important elements of the agency and its work have to remain in place for now. According to internal documents reviewed by NBC News, on May 19, Noem approved a request from newly installed acting FEMA Administrator David Richardson to retain 2,652 employees whose terms had been set to expire between April and December. The employees are part of FEMA's Cadre of On-Call Response/Recovery Employees (CORE) group, for which people are always hired for specific periods of two to four years; their departures this year would have left FEMA without a large number of key employees during hurricane season. According to a report by the Government Accountability Office, FEMA had 8,802 total CORE employees as of fiscal year 2022. A FEMA employee told NBC News that the workforce seemed surprised and pleased that Noem decided to keep the CORE employees on during hurricane season after the administration had moved to cut them. The same week FEMA was moving to keep those key employees in place, the White House was suddenly approving disaster recovery reimbursement requests from 10 states, including some that had been stalled for months, accounting for 20% of all such approvals in Trump's second term, according to FEMA disaster approval data online. Three sources familiar with Noem's recent actions say she has taken an outsized role compared with previous secretaries in pushing the White House to support FEMA and reimburse states. State and local governments are entitled by statute to have 75% of their costs for disasters reimbursed by the federal government. Anything above that is determined by a fixed formula or, if the formula's requirements are not met, by the president. In the past, the White House generally approved what FEMA officials determined was appropriate based on those formulas, leaving the homeland security secretary to function largely as a rubber stamp, according to two sources familiar with the disaster approval process. But with the White House pushing to downsize FEMA's role and encourage more states to bail themselves out, at least as of last week, the White House had repeatedly pushed back against FEMA's recommendations, according to one of the sources familiar with Noem's recent actions. And Noem had gotten involved. Asked for comment on this article, McLaughlin, the DHS spokesperson, said in a statement: 'This is a sad attempt by the mainstream media to drive a false narrative that there is daylight between President Trump and Secretary Noem. To the media's chagrin, there's not. Secretary Noem has been implementing President Trump's vision for the future of FEMA to shift it away from a bloated, DC-centric bureaucracy that has let down the American people.' Because previous administrations typically approved reimbursements that FEMA determined should be made, states might not have the ability to shoulder the burden without having planned for it years in advance. 'For a state like North Carolina, it's significant. And in a state like Alabama or Mississippi, it would bankrupt the state,' said Michael Cohen, who was chief of staff at FEMA during the Biden administration. 'They would have to take out a bond. They would have to look at how they increase tax revenue. For some of these states, it might be twice what their annual budget is for the year. So when the DHS secretary or White House is saying states are going to have to own the problem ... these states are going to need to have a different mindset for how they budget.' Though the CORE employees are being kept on, a large number of FEMA's senior executives have left this year, largely voluntarily, raising concerns internally and among outside observers and members of Congress about its ability to respond during hurricane season. Sixteen senior officials whose departures were announced in an internal email last week had a combined 228 years of experience at FEMA. Four additional senior executive departures were announced Wednesday in an email from the acting chief of staff at FEMA, who is herself set to step down. 'It's like having a relay team, and instead of having six members you've only got four, and yeah, you can do it, but those four runners are going to have to run more than they're trained for,' the FEMA employee said.
Hamilton Spectator
3 days ago
- Business
- Hamilton Spectator
Ninepoint Partners Named Exclusive Canadian Capital Formation Partner for WP Global's Lower Middle Market Private Equity Mandates
TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP ('Ninepoint'), one of Canada's leading independent investment managers, today announced a new strategic partnership with WP Global Partners LLC ('WP Global'), a private equity investment firm with more than $3.2 billion in assets under management and a distinguished 20-year track record in the U.S. lower middle market. Through this partnership, Ninepoint Institutional Partners LP, the institutional division of Ninepoint, has been appointed as the exclusive capital formation partner in Canada for certain WP Global lower middle market private equity strategies, including its flagship CORE alpha series. The collaboration aims to provide Canadian institutional investors with access to WP Global's highly curated private equity partnership and co-investment opportunities focused on small and midsize companies across the United States. Founded in 2005, WP Global's team has collectively invested over $5.7 billion across more than 450 funds and $1.6 billion in 145 portfolio companies. WP Global is known for its rigorous manager selection process, thematic co-investments, and consistent performance across multiple market cycles. The firm's WP CORE alpha flagship series targets value creation through a diversified portfolio of private equity partnerships and direct private equity co-investments with a focus on defensible businesses in healthcare, business services, consumer, and specialty manufacturing sectors. 'We are excited to partner with WP Global' said Jalaj Antani, Director, Ninepoint Institutional Partners LP. 'We believe WP Global's decades of experience and notable track record in selecting lower middle market private equity investments will be very appealing for Canadian institutional investors.' 'We are thankful for the collaboration with Ninepoint and are excited to partner with Canadian investors to help them scale down into the attractive and expansive U.S. lower middle market.' said J.F. Berry, Senior Managing Partner at WP Global Partners. WP Global's investment philosophy focuses on sectors with strong growth dynamics and low correlation to public markets, including companies with recurring consistent revenue, defensible business models, and clear value creation levers. Through its mandates, WP seeks to build portfolios with long-term resilience and enhanced return potential. About Ninepoint Partners Ninepoint Institutional Partners works with Canadian Pension Plans, Foundations, Endowments, Insurance Companies, Family Offices, and other institutional allocators to deliver objective, comprehensive investment management solutions from around the globe. By collaborating with best-in-class managers, we offer access to unique strategies that optimize risk/return profiles in institutional portfolios. Based in Toronto, Ninepoint Partners LP is one of Canada's leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets. For more information on Ninepoint, please visit or contact us at 416-362-7172 or 1-888-362-7172 or institutional@ . About WP Global Partners Founded in 2005, WP Global Partners LLC is a private equity investment firm with over $3.2 billion in assets under management. WP Global focuses on partnership and co-investment strategies across the U.S. lower middle market and its team has invested in more than 450 funds and 145 companies. The firm operates offices in Chicago, New York, Los Angeles, and South Walton. WP Global is recognized for its experienced team, disciplined investment process, and long-standing relationships with premier fund managers. For more information, visit . Media Inquiries Kate Sylvester/Liz Shoemaker Longacre Square Partners ninepoint@
