Latest news with #Controlled
Yahoo
5 days ago
- Business
- Yahoo
EPIC Insurance Brokers & Consultants Appoints Chris Keith as President, Mid-Atlantic Region
SAN FRANCISCO, June 04, 2025--(BUSINESS WIRE)--EPIC Insurance Brokers & Consultants ("EPIC") is proud to announce the appointment of Chris Keith as President, Mid-Atlantic Region, further strengthening EPIC's national market presence and commitment to regional leadership excellence. In his new role, Keith will be responsible for strategic leadership across the Mid-Atlantic, driving growth, market expansion, and client service excellence. A dynamic business leader, Keith brings over twenty-five years of experience delivering strategic, actionable insights and advisory services to clients across a wide range of industries. Keith's vast experience serving clients across multiple industries, including thought leadership for those requiring specialized risk financing solutions, positions him well to lead EPIC as we expand our footprint and grow our client base. He is also a speaker and published author in areas such as Aviation and Aerospace, Healthcare Risk Management, and Owner Controlled Insurance Programs. "We are thrilled to welcome Chris to lead our Mid-Atlantic region," said Tom O'Neil, Co-President at EPIC. "His deep industry knowledge, innovative thinking, and client-first approach align perfectly with EPIC's client-focused culture. We are committed to delivering innovative, customized solutions that drive results for clients." "We are excited to invest in the Mid-Atlantic with our appointment of Chris," added Karen Beldy Torborg, Northeast Regional President at EPIC. "With Chris leading the way, we are poised to expand rapidly in the Mid-Atlantic and establish ourselves as a meaningful player in that region." "What attracted me to EPIC was their entrepreneurial culture and world-class specialty resources," said Keith. "We take a tailored approach that allows our clients to focus on running their businesses while we focus on protecting them." "I am excited to continue enhancing the EPIC brand and help build out the Mid-Atlantic region," Keith added. "This is a tremendous opportunity to lead with purpose and deliver exceptional value to our clients." About EPIC Insurance Brokers & ConsultantsEPIC Insurance Brokers & Consultants is a leader in risk management, providing clients with diverse and specialized property and casualty, employee benefits, private client and specialty insurance solutions. The EPIC team members operate from locations nationwide, bringing strategic and expansive specializations that allow them to collaborate for innovative and comprehensive risk-solution development. For more information on EPIC, please visit View source version on Contacts Media Contact Gregory FCA for EPICepic@
NZ Herald
06-05-2025
- NZ Herald
Police, NZ Customs seize 25kg worth of cocaine valued at $9 million; four arrested
The men will face multiple charges, including possession of cocaine for supply and burglary, and will appear in various district courts across a range of dates. Detective Senior Sergeant Phil Sparks said the seizure equated to more than 250,000 doses of cocaine and $9 million in harm prevention. 'That is an enormous amount of damage and misery that had been heading into our communities that has now been halted through this investigation,' he said. 'Police and Customs continue to be committed to targeting those offenders causing the most harm, and are always looking for opportunities to disrupt the supply chain from organised criminal groups targeting New Zealanders.' Sparks said part of the investigation's success was also due to the target hardening of Customs Controlled Areas in Christchurch and the excellent partnership between Customs and police. 'We continue to have a focus on engaging with businesses and supporting their legitimate services by keeping them safe with prevention advice to deter drug trafficking organisations' attempts to exploit their people and premises,' he said. Customs Acting Investigations Manager Rachael Manning said the investigation resulted from quick action and close collaboration between police and Customs. 'As well as industry partners who are committed to working alongside law enforcement to help stop organised criminal groups from operating in our regions and ports,' she said. 'We know that transnational and serious organised crime groups are actively targeting New Zealand to drive up both demand and supply of illegal drugs such as cocaine for maximum profit.' Manning said the gangs were using every method possible to exploit any vulnerabilities within international supply chains. 'Whether that's at seaports, in secure areas or on vessels themselves.'
Economic Times
28-04-2025
- Business
- Economic Times
Zepto founders' debt; Rapido's food delivery ride
Happy Monday! Zepto founders are raising funds through structured debt ahead of the company's IPO. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ App Store's India study ■ Zomato CEO on Reddit rumours■ Cars24 layoffs Zepto founders tap Edelweiss, others for Rs 1,500 crore structured debt to boost Indian ownership Aadit Palicha and Kaivalya Vohra, founders, Zepto Zepto founders Aadit Palicha and Kaivalya Vohra are raising about Rs 1,500 crore through structured debt to boost Indian ownership ahead of the company's planned IPO, people familiar with the matter told us. The lenders: Edelweiss Alternative Asset is anchoring the deal alongside domestic family offices and smaller credit funds. Edelweiss Alternative Asset is anchoring the deal alongside domestic family offices and smaller credit funds. The terms: The loan carries a minimum interest rate of 16%, with an equity-linked upside pushing total returns closer to 18%. The loan carries a minimum interest rate of 16%, with an equity-linked upside pushing total returns closer to 18%. The security: The debt is backed by a pledge of promoter equity, rare among Indian new-age tech startups still burning cash. The debt is backed by a pledge of promoter equity, rare among Indian new-age tech startups still burning cash. The timeline: The transaction is expected to close by July, and the three-year term will end in 2028. Between the lines: The structured debt will allow Zepto's founders to acquire shares from existing foreign investors, raising their holding to around 20% from 18%. Overall domestic shareholding could cross 30% post-deal, sources said. India's FDI rules allow 100% foreign investment in marketplace models but prohibit FDI in inventory-led ecommerce. Only Indian Owned and Controlled Companies (IOCCs) can legally operate inventory-led models. To qualify as an IOCC, a company must have more than 50% Indian ownership and control. On April 19, Zomato's parent, Eternal, capped foreign shareholding at 49.5% to ensure Indian majority control. This move enables Blinkit to stock and sell inventory directly, improving margins and expanding into private labels. Also Read: Byju's and the debt trap haunting Indian tech startups Catch up quick: Zepto secured NCLT approval on January 9 to merge its Singapore-based parent, Kiranakart, with its Indian entity, Kiranakart Technologies Pvt Ltd. The company has since renamed itself Zepto Private Limited to align with its consumer brand ahead of the public listing. What's next: Zepto is separately closing a $250-million secondary sale, led by Motilal Oswal Financial Services, to clean up its cap table further and enhance Indian ownership. Rapido likely to run food delivery pilot in Bengaluru soon (L-R), Rishikesh SR, Aravind Sanka, Pavan Guntupalli, cofounders, Rapido Bike taxi platform Rapido may roll out the pilot programme for its food delivery service in Bengaluru in the coming weeks, sources told us. What's brewing: Rapido is targeting major restaurant chains and is in discussions with franchise operators of McDonald's, KFC, and Pizza Hut, along with other high-volume quick-service and cloud kitchen chains. ET first reported on March 12 the company's plans to enter the food delivery segment. A person familiar with the matter said the initial focus will be shorter-distance deliveries from large restaurant chains with dense outlet networks in top cities. While large chains account for a significant share of orders, smaller outlets offer consumers greater choice, they added. New roots: Backed by WestBridge Capital, Rapido is seeking new growth drivers, focusing on food delivery and insurance distribution. It built momentum in the ride-hailing market by entering late and disrupting incumbents, but diversification has become crucial as growth slows. Rapido crossed $1 billion in gross merchandise value last fiscal. ET reported on April 1 that Rapido had captured over 20% market share (and growing) in the four-wheeler ride-hailing segment, compared to Uber's 50% and Ola's 30%. Wrong timing: Rapido's foray into food delivery comes as the segment faces muted growth, even though it remains the biggest revenue source for market leaders Zomato and Swiggy. In an interview with ET in March, Zomato parent Eternal's CEO Deepinder Goyal highlighted systemic issues with the food delivery segment, indicating that the company would launch fresh initiatives to address them. Apple App Store in India facilitated $5.3 billion in developer billings, sales in 2024 Apple's App Store ecosystem generated nearly Rs 44,447 crore ($5.31 billion) in developer billings and sales in India in 2024, according to a study by the tech giant, sourced by ET. Driving the news: This marks the first time Apple has publicly shared these figures. Key findings include: More than 94% of the Rs 44,447 crore accrued directly to developers and businesses of all sizes without any commission to Apple. In 2024, App Store developers recorded Rs 38,906 crores ($4.65 billion) in total billings from the sale of physical goods and services, Rs 3,014 crores ($352.9 million) from in-app advertising, and Rs 2,527 crores ($302 million) from digital goods and services. Nearly 80% of India-based developers' earnings came from users outside India. Tell me more: According to the study, the global earnings of India-based developers have tripled over the past five years. The study also noted that apps from Indian developers consistently featured among the most downloaded in App Store storefronts worldwide. Also Read: Apple aims to source all US iPhones from India in shift away from China: FT report Other Top Stories By Our Reporters (L-R), Vikram Chopra, Mehul Agrawal, Ruchit Agarwal and Gajendra Jangid, cofounders, Cars24 Cars24 lays off 200 employees, to tighten hiring plans: Used car sales platform Cars24 has laid off around 200 employees across various functions, including product and technology, as it pulls back on certain projects, cofounder and CEO Vikram Chopra said in an internal note to staff. Internal whistleblower alleges deep crisis at Zomato; CEO Deepinder Goyal dismisses it as 'utter nonsense': Zomato chief executive Deepinder Goyal on Saturday firmly denied claims that the food delivery platform is losing market share or pressuring employees to exclusively order through it after a post against the company went viral on Reddit. India grappling with a dearth of agentic AI experts: India is facing a severe shortage of agentic AI professionals as companies move beyond basic chatbots to develop intelligent agents capable of solving complex business problems and support decision-making. Global Picks We Are Reading ■ The Meta trial shows the dangers of selling out (Wired) ■ Brands target AI chatbots as users switch from Google search (FT) ■ Why India fell behind China in tech innovation (Rest of World) Updated On Apr 28, 2025, 06:57 AM IST
Associated Press
29-01-2025
- Business
- Associated Press
urban-gro, Inc. Granted Extension by Nasdaq to Regain Compliance
LAFAYETTE, CO / ACCESS Newswire / January 29, 2025 / urban-gro, Inc. (NASDAQ:UGRO) ('urban-gro' or the 'Company'), an integrated professional services and Design-Build firm offering solutions to the Controlled Environment Agriculture ('CEA') and other commercial sectors, today announced that it has received an exception from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ('Nasdaq') to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the 'Listing Rule'). This exception extends to February 18, 2025 the deadline for the Company to file its Quarterly Report on Form 10-Q for the fiscal quarters ended June 30, 2024 and September 30, 2024 and to file restatements of the Company's previously issued financial statements relating to annual and quarterly periods during fiscal years ended December 31, 2022 and December 31, 2023 and for the fiscal quarter ended March 31, 2024. As previously disclosed, the delay in filing is primarily attributable to the Company's change in auditor and their ongoing comprehensive audit and review process related to the restatement of historical financial statements. While this process requires additional time to ensure accuracy and completeness of the Company's financial reporting, the extension granted by Nasdaq has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market. About urban-gro, Inc. urban-gro, Inc.® (NASDAQ:UGRO) is an integrated professional services and Design-Build firm. We offer value-added architectural, engineering, and construction management solutions to the Controlled Environment Agriculture ('CEA'), industrial, healthcare, and other commercial sectors. Innovation, collaboration, and creativity drive our team to provide exceptional customer experiences. With offices across North America and in Europe, we deliver Your Vision - Built. Learn more by visiting Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, terms such as 'believes,' 'will,' 'expects,' 'anticipates,' 'may,' 'projects' and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, the expected scope of the material misstatements identified in this press release, the Company's ability to remain listed on Nasdaq, and the expected timing of filing restated periodic reports and the Forms 10-Q for the Company's second and third fiscal quarters of 2024. These and other forward-looking statements are based on the current expectations, forecasts, beliefs and assumptions of the Company's management and are subject to risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including, among others, our ability to meet the other continued listing rules of Nasdaq and whether Nasdaq exercises its discretion, if necessary, to grant an extension period based on any plan of compliance we submit. A more detailed description of these and certain other factors that could affect actual results is included in the Company's filings with the Securities and Exchange Commission. Copies of these filings are available online at Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law. Investor Contacts: Media Contact: Barbara Graham - urban-gro, Inc. (720) 903-1139
