Latest news with #IntellectualProperty
Free Malaysia Today
5 days ago
- Politics
- Free Malaysia Today
US will not tolerate Chinese ‘exploitation' of universities, theft of research
The Harvard University School of Law graduating class participates in the 374th commencement ceremonies held at the Cambridge campus. (EPA Images pic) WASHINGTON : The US will not tolerate 'exploitation' of American universities by the Chinese Communist Party or theft of US research and intellectual property, state department spokesperson Tammy Bruce said on Thursday. In a briefing at the state department, Bruce declined to provide numbers for how many Chinese students would be affected by a new plan to 'aggressively' revoke visas announced on Wednesday, but said officials would scrutinise anyone 'deemed to be a threat to the country or a problem.' She declined to detail how those who pose a threat would be determined. Secretary of state Marco Rubio, announcing the new crackdown, said it would target students including those with connections to the Chinese Communist Party (CCP) or studying in critical fields. 'When it comes to keeping America safe, the US, I further can say here, will not tolerate the CCP's exploitation of US universities or theft of US research intellectual property or technologies to grow its military power, conduct intelligence collection or repress voices of opposition,' Bruce said. The announcement on Chinese student visa holders came after the Trump administration ordered its missions all over the world to stop scheduling new appointments for student and exchange visitor visa applicants. Asked when appointments would come back online, Bruce did not say but recommended that applicants continue checking the US visa system for new appointments.
Reuters
5 days ago
- Politics
- Reuters
US will not tolerate Chinese 'exploitation' of universities, theft of research, says State Dept
WASHINGTON, May 29 (Reuters) - The United States will not tolerate "exploitation" of American universities by the Chinese Communist Party or theft of U.S. research and intellectual property, State Department spokesperson Tammy Bruce said on Thursday. In a briefing at the State Department, Bruce declined to provide numbers for how many Chinese students would be affected by a new plan to "aggressively" revoke visas announced on Wednesday, but said officials would scrutinize anyone "deemed to be a threat to the country or a problem." She declined to detail how those who pose a threat would be determined. Secretary of State Marco Rubio, announcing the new crackdown, said it would target students including those with connections to the Chinese Communist Party (CCP) or studying in critical fields. "When it comes to keeping America safe, the United States, I further can say here, will not tolerate the CCP's exploitation of U.S. universities or theft of U.S. research intellectual property or technologies to grow its military power, conduct intelligence collection or repress voices of opposition," Bruce said. The announcement on Chinese student visa holders came after the Trump administration ordered its missions all over the world to stop scheduling new appointments for student and exchange visitor visa applicants. Asked when appointments would come back online, Bruce did not say but recommended that applicants continue checking the U.S. visa system for new appointments.
CBC
15-05-2025
- Business
- CBC
Canadian Tire to take over Hudson's Bay's iconic stripes, logos
Shoppers who stocked up on Hudson's Bay blankets or other goods adorned with the iconic retailer's stripes, hoping they'd become collector's items, may be in for disappointment. On Thursday, Canadian Tire announced it will pay $30 million to take over Hudson's Bays intellectual property, including its famous four stripes motif, various company names, logos, and the retailer's coat of arms symbol. The deal still needs court approval. In March, indebted Hudson's Bay Co. was granted creditor protection and put it assets up for sale. The 355-year-old retailer plans to close its 80 Bay and 16 Saks-branded stores next month. Canadian Tire, which has more 1,700 retail locations across the country, was established in 1922. "Some things are just meant to stay Canadian and we are honoured to welcome many of HBC's leading brands – including the iconic HBC coat of arms and the Stripes – into our Canadian Tire family," said Greg Hicks, Canadian Tire CEO and president in a statement. "It's disheartening to witness the final days of another great Canadian retailer, and while the circumstances are unfortunate, we're proud to step in for customers." Although Hudson's Bay has become a symbol of Canada, the department store chain has been under American ownership since 2006. The future of the beleaguered retailer is not yet known; it has received 12 bids for 39 of its stores, according to court documents. Liquidation sales at all Hudson's Bay's stores are expected to wind up by June 1. WATCH | Hudson's Bay to close all stores: Hudson's Bay liquidates final 6 stores, including Toronto flagship 20 days ago Duration 2:00 After trying to spare them from liquidation, Hudson's Bay is clearing out merchandise from its six remaining locations, including its downtown Toronto flagship store.
Irish Daily Mirror
13-05-2025
- Irish Daily Mirror
Revenue seize cannabis, weapons, counterfeit goods, cash and more
Over the past week, Revenue officers seized contraband with an estimated value of €356,595 in various operations in Dublin, the Midlands, Wexford, Kilkenny and Laois. The detections were made as a result of risk profiling and intelligence led operations, and alongside 5,110 zopiclone tablets, with an estimated value of over €10,200, Revenue seized a haul of cannabis, tobacco, alcohol, counterfeit goods and weapons. Revenue seized 9.8kg of herbal cannabis, with an estimated value of over €196,000, and 2.7kg of edibles, with an estimated value of over €2,700. The herbal cannabis and other drugs were discovered, with the assistance of detector dogs Ciara and Enzo, whilst Revenue officers were examining parcels at premises in Dublin and the Midlands. The parcels originated from India, USA, Thailand, UK, Poland, Spain and Portugal, and were destined for various addresses nationwide. Tobacco products with an estimated value of €23,800, representing a potential loss to the Exchequer of over €18,900 and alcohol products with an estimated value of over €1,600, representing a potential loss to the Exchequer of over €1,100, were also seized. The alcohol consisted of 149 litres of wine, beer, whiskey and unidentifiable unlabelled alcohol. The tobacco products seized consisted of 20,560 cigarettes and 6.4kg of tobacco, branded L&M, Sterling, Marlboro, Benson & Hedges, Richmond, Blue River, Mayfair, John Player Winston and Amber Leaf. The tobacco and alcohol products were seized in various operations in the Midlands, Rosslare and Kilkenny, as a result of risk profiling and with the assistance of detector dogs Molly and Jasper. 18 weapons were also seized in the Midlands. The weapons consisted of pepper spray, tasers, batons, blowpipe, red flares, smoke fountains, and flashing tablets. 329 counterfeit items were seized, with an estimated value of over €97,400. The counterfeit goods were seized as they were confirmed by the Rights Holder to have infringed on Intellectual Property Rights. The counterfeit goods were branded Versace, Crocs, Adidas, Alexander McQueen, Birkenstock, Burberry, Calvin Klein, Canada Goose, Chanel, Chloe, Christian Dior, Corteiz, Dr Martens, Fear of God, Golden Goose, Gym Shark, Gucci, Hermes, Hugo Boss, Lacoste, Louis Vuitton, Moncler, Mulberry, New Balance, Nike, North Face, ON Cloud, Palm Angels, Ralph Lauren, Rayban, Rolex, Stone Island, Stussy, Tommy Hilfiger, Ugg, Under Armour, White Fox and Yves Saint Laurent. Last Wednesday, May 7, Revenue officers also seized €24,895 in cash during a search of property in Co. Laois. A Detention Order for the cash was subsequently granted by Judge Andrew Cody at Portlaoise District Court on May 9. A Revenue spokesperson told the Irish Mirror that investigations into all seizures are ongoing. They added: 'These seizures are part of Revenue's ongoing operations targeting smuggling and shadow economy activity. If businesses, or members of the public, have any information regarding smuggling, they can contact Revenue in confidence on 1800 295 295.'
Associated Press
08-05-2025
- Business
- Associated Press
Acacia Research Corporation Reports First Quarter 2025 Financial Results
NEW YORK--(BUSINESS WIRE)--May 8, 2025-- Acacia Research Corporation (Nasdaq: ACTG ) (' Acacia ' or the ' Company '), which acquires and operates businesses across the industrial, energy and technology sectors, today reported financial results for the three months ended March 31, 2025. The Company also posted its first quarter 2025 earnings presentation on its website at under Events & Presentations. Martin ('MJ') D. McNulty, Jr., Chief Executive Officer, stated, 'Acacia had a very strong start to the year, generating first quarter revenue of $124.4 million and Total Company Adjusted EBITDA of $50.7 million. These results were driven by $69.9 million in revenue from our Intellectual Property operations primarily relating to our WiFi-6 portfolio, the first full quarter of performance from Deflecto, and continued execution at Benchmark and Printronix. Against the backdrop of macro-economic uncertainty, we continued to execute our strategy of building businesses with stable cash flow generation and scalability and believe the combination of our existing businesses and strong balance sheet will ensure Acacia continues to deliver long-term shareholder value. Including the net proceeds from the Intellectual Property settlement recorded in the first quarter, and received after quarter end, current cash, cash equivalents and equity securities is approximately $338.2 million, or $3.52 per share. Our strong cash position provides us with substantial dry powder to grow our business and positions us well to opportunistically pursue accretive investment opportunities that may become available.' First Quarter 2025 Highlights Revenue The following table provides a breakdown of the Company's total revenue for the three months ended March 31, 2025 and March 31, 2024. For the purposes of financial reporting, Acacia's operations are broken out as follows: Energy Operations (Benchmark), Industrial Operations (Printronix), Manufacturing Operations (Deflecto), and Intellectual Property Operations (Acacia Research Group). Adjusted EBITDA The following table provides a reconciliation of consolidated Net Income (Loss), the most directly comparable GAAP measure, to Total Company Adjusted EBITDA for the three months ended March 31, 2025 and March 31,2024. The following table provides the Adjusted EBITDA for each of the Company's operating segments for the three months ended March 31, 2025 and March 31, 2024. Adjusted Net Income and Adjusted Diluted EPS The following table provides a reconciliation of Net Income (Loss), the most directly comparable GAAP measure, to Adjusted Net Income (Loss) and Adjusted Diluted EPS for the three months ended March 31, 2025 and March 31, 2024. Free Cash Flow 4 The following table provides a reconciliation of Free Cash Flow (FCF) for the three months ended March 31, 2025. Balance Sheet and Capital Structure Book Value as of March 31, 2025 At March 31, 2025, Acacia's book value (which includes noncontrolling interests) was $577.3 million and there were 96.2 million shares of common stock outstanding, for a book value per share of $6.00. This value is impacted by one-time expenses and other adjustments detailed in the above reconciliation from GAAP Net Income (Loss) to Adjusted Net Income (Loss). Investor Conference Call The Company will host a conference call today, May 8, 2025 at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time). To access the live call, please dial 877-545-0523 (U.S. and Canada) or 973-528-0016 (international) and if requested, reference the access code '476097.' The conference call will also be simultaneously webcast at and on the investor relations section of the Company's website at under Events & Presentations. Following the conclusion of the live call, a replay of the webcast will be available on the Company's website for at least 30 days. About the Company Acacia (Nasdaq: ACTG) is a publicly traded company that is focused on acquiring and operating attractive businesses across the mature technology, energy and industrial/manufacturing sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon. Acacia operates its businesses based on three key principles of people, process and performance and has built a management team with demonstrated expertise in research, transactions and execution, and operations and management. Additional information about Acacia and its subsidiaries is available at Safe Harbor Statement This news release contains forward-looking statements within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon the Company's current expectations and speak only as of the date hereof. All statements other than statements of historical fact are forward-looking statements and include statements related to estimates and projections with respect to, among other things, the Company's anticipated financial condition, operating performance, the value of the Company's assets, general economic and market conditions and other future circumstances and events. This news release attempts to identify forward-looking statements by using words such as 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'future,' 'guidance,' 'intend,' 'may,' 'outlook,' 'plan,' 'potential,' 'predict,' 'project,' 'seek,' 'should,' 'target' and 'will,' and similar words and expressions; however, the absence of these words does not mean that the statements are not forward-looking. While the Company believes its assumptions concerning future events are reasonable, a number of factors could cause actual results to differ materially and adversely from those expressed or implied in any forward-looking statements, including, but not limited to: the Company's ability to successfully identify, diligence, complete, and integrate strategic acquisitions of businesses, divisions, and/or assets, the performance of the Company's businesses, divisions, and/or assets, disruptions or uncertainty caused by an ability to retain or changes to the employees or management teams of the Company's businesses, changes to the Company's relationship and arrangements with Starboard Value LP, any inability of the Company's operating businesses to execute on their business and, with respect to Benchmark, hedging strategy, risks related to price and other fluctuations in the oil and gas market, inflationary pressures, supply chain disruptions or labor shortages, the impact of tariffs and trade policy, non-performance by third parties of contractual or legal obligations, changes in the Company's credit ratings or the credit ratings of the Company's businesses, security threats, including cybersecurity threats and disruptions to the Company's business and operations from breaches of information technology systems, or breaches of information technology systems, facilities and infrastructure of third parties with which the Company transacts business, oil or natural gas production becoming uneconomic, causing write downs or adversely affecting Benchmark's ability to borrow, Benchmark's ability to replace reserves and efficiently develop current reserves, risks, operational hazards, unforeseen interruptions and other difficulties involved in the production of oil and natural gas, the impact of any seismic events, environmental liability risk, regulatory changes related to the oil and gas industry, the ability to successfully develop licensing programs and attract new business, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property in general, the decrease in demand for Printronix' products, changes in safety, health, environmental, tax and other regulations, requirements or initiatives, hazards such as weather conditions, a health pandemic (similar to COVID-19), acts of war or terrorist acts and the government or military response thereto, general economic conditions, and the success of the Company's investments. For further discussions of risks and uncertainties, you should refer to the Company's filings with the Securities and Exchange Commission, including the 'Risk Factors' section of the Company's most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. In addition, actual results may differ materially as a result of additional risks and uncertainties of which the Company is currently unaware or which the Company does not currently view as material. Except as otherwise required by applicable law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason. This earnings release includes Adjusted EBITDA on a consolidated basis and for each of the Company's segments. Total Company Adjusted EBITDA, Operated Segment Adjusted EBITDA and Adjusted EBITDA and Free Cash Flow (FCF) for each of the Company's segments are supplemental non-GAAP financial measures used by management and external users of the Company's consolidated financial statements. This earnings release also includes the Company's Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share (EPS), which are non-GAAP financial measures. GAAP refers to generally accepted accounting principles in the United States. A non-GAAP financial measure is a numerical measure of historical or future performance, financial position or cash flow that includes or excludes amounts that are excluded or included, respectively, in the most directly comparable measure calculated and presented in accordance with GAAP in the Company's financial statements. Total Company Adjusted EBITDA is defined as net income / (loss) before net income / (loss) attributable to noncontrolling interests, income tax (benefit) / expense, interest expense, interest income and other, net, loss / (gain) on foreign currency exchange, net realized and unrealized (gain) / loss on derivatives, net realized and unrealized loss / (gain) on investments, non-recurring legacy legal expenses, depreciation, depletion and amortization, stock-based compensation, realized hedge gain / (loss), transaction-related costs, and costs related to the legacy items. Operated Segment Adjusted EBITDA is the aggregate of Energy Operations Adjusted EBITDA, Manufacturing Operations Adjusted EBITDA, Industrial Operations Adjusted EBITDA, and Intellectual Property Operations Adjusted EBITDA. See below for the definition of each of those measures. The Company is providing Total Company Adjusted EBITDA and Operated Segment Adjusted EBITDA, non-GAAP financial measures, because management believes these metrics provide investors with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of core operating performance. These measures are not intended to replace the presentation of financial results in accordance with GAAP and may be different from or otherwise inconsistent with similar non-GAAP financial measures used by other companies. The presentation of these non-GAAP financial measures supplements other metrics the Company uses to internally evaluate its subsidiary businesses and facilitate the comparison of past and present operating performance. These measures should not be considered in isolation or as a substitute for measures calculated and presented in accordance with GAAP. Energy Operations Energy Operations Adjusted EBITDA is defined as operating income / (loss) for Acacia's Energy Operations before depreciation, depletion and amortization expense and transaction-related costs, and including realized hedge gain / (loss). The Company is providing its Energy Operations Adjusted EBITDA, a non-GAAP financial measure, because the metric provides investors with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of core operating performance. Industrial Operations Industrial Operations Adjusted EBITDA is defined as operating income / (loss) for Acacia's Industrial Operations before amortization of acquired intangibles and depreciation and amortization expense. The Company is providing its Industrial Operations Adjusted EBITDA, a non-GAAP financial measure, because the metric provides investors with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of core operating performance. Intellectual Property Operations Intellectual Property Operations Adjusted EBITDA is defined as operating income / (loss) for Acacia's Intellectual Property Operations before patent amortization, depreciation and amortization expense and stock-based compensation. The Company is providing Intellectual Property Operations Adjusted EBITDA, a non-GAAP financial measure, because the metric provides investors with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of core operating performance. Manufacturing Operations Manufacturing Operations Adjusted EBITDA is defined as operating income / loss for Acacia's Manufacturing Operations before amortization of acquired intangibles, depreciation and amortization expense, and transaction-related costs. The Company is providing its Manufacturing Operations Adjusted EBITDA, a non-GAAP financial measure, because the metric provides investors with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of core operating performance. Parent Costs are defined as operating income / (loss) attributable to Parent before depreciation and amortization expense, stock-based compensation, transaction-related costs, and costs related to certain legacy matters attributable to the Parent organization. The Company is providing Parent Costs, a non-GAAP financial measure, because it believes it gives investors a clear picture of normalized Parent-level expenses. Free Cash Flow is defined as net cash provided by (used in) operating activities, less net purchases of property and equipment, oil and gas properties, and patent acquisitions ('Capital Expenditures'). The Company is providing Free Cash Flow, a non-GAAP financial measure, because it believes free cash flow gives investors a good sense of how much cash flows are available to be used for de-levering, making acquisitions, repurchasing shares or similar uses of cash. Adjusted Net Income (Loss) Adjusted Net Income (Loss) is defined as Acacia's GAAP Net Income (Loss) excluding costs related to certain legacy matters, stock-based compensation, transaction-related costs, amortization of acquired intangibles, any unrealized (gain) / loss on securities, any unrealized (gain) / loss on hedges, and any (gain) / loss on non-cash derivatives and taking into account the tax effect(s) of those adjustments. The Company is providing Adjusted Net Income (Loss), a non-GAAP financial measure, because the metric provides investors with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of core operating performance. Adjusted Diluted Earnings Per Share (EPS) Adjusted Diluted EPS is defined as Adjusted Net Income (Loss) divided by the Company's weighted average diluted share count as of the relative period end date. The Company is providing its Adjusted Diluted EPS, a non-GAAP financial measure, because the metric provides investors with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of core operating performance. The following tables reconcile Operating Income (Loss), the most directly comparable GAAP financial measure, to Adjusted EBITDA for each of the Company's operating segments and for Parent Costs for the three months ended March 31, 2025 and March 31, 2024. View source version on CONTACT: Investor Contact:Gagnier Communications [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: PROFESSIONAL SERVICES HARDWARE BUSINESS OFFICE PRODUCTS OIL/GAS ENERGY TECHNOLOGY OTHER MANUFACTURING RETAIL TRANSPORT FINANCE LOGISTICS/SUPPLY CHAIN MANAGEMENT MANUFACTURING SOURCE: Acacia Research Corporation Copyright Business Wire 2025. PUB: 05/08/2025 07:34 AM/DISC: 05/08/2025 07:34 AM
