Frank Kaminsky (Phoenix Suns) with a dunk vs the Cleveland Cavaliers, 05/04/2021
Frank Kaminsky (Phoenix Suns) with a dunk vs the Cleveland Cavaliers, 05/04/2021
The script for the broadcast has been written by poet, writer and mental health activist Hussain Manawer.
EDEN, Texas (AP) — A West Texas man accused of fatally shooting two sheriff's deputies was angry they were in his yard trying to catch a dog and he told them he would open fire if they didn't leave, a witness said. “They walked up towards him, rushed him, and he pulled a gun, and shots were fired,” David Hutchings told the San Angelo Standard-Times. The shooting happened Monday evening in Eden, a city of about 1,300 people roughly 210 miles (340 kilometers) southwest of Dallas. Officials say Concho County deputies Stephen Jones and Samuel Leonard were killed and city employee Ronnie Winans was injured. DPS said Wednesday that Nicholas opened fire on Jones and Leonard after they “made contact” with him while responding to a dog complaint. Officials have said little else about what happened before the shooting, which is being investigated by the Texas Rangers. Jeffrey Nicholas, 28, is jailed in nearby Tom Green County Detention Center on two charges of capital murder of a peace officer. Hutchings, a city employee who helps with animal control, told the newspaper that the officers were helping city employees collect two dogs that had bitten someone earlier in the day. The deputies had already caught one of the dogs and the other one ran into Nicholas’ yard. Hutchings said Nicholas did not own either animal. Nicholas told the deputies they couldn't enter his yard to get the dog, then that they should “get off his property” and that he “has his civil rights,” Hutchings said. He said Nicholas told the deputies that he would shoot them, and then opened fire. Hutchins said Winans, who is his boss, was shot in the stomach when a bullet went through door of a city pickup. DPS said Wednesday that Winans was in stable condition. The funeral for Leonard is set for Monday, Jones' funeral is set for Wednesday. The Associated Press
The prevalence of coronavirus infections in England has halved since March helped by the swift rollout of vaccines, but new variants remain a threat, according to the findings of a closely watched survey released on Thursday. British Prime Minister Boris Johnson on Monday gave the green light to hugging and the serving of pints inside pubs from next week after months of strict restrictions as he set out the next phase of easing the pandemic lockdown. The REACT study, run by scientists at Imperial College London, found that the number of infections has fallen again with an average of only one in 1,000 people infected.
GUADALAJARA, Mexico, May 12, 2021 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announces that on May 28, 2021 it will be made the capital reduction payment approved at the General Extraordinary Shareholders’ Meeting held on April 27, 2021. The capital reduction payment will be in accordance with the second resolution approved during the Extraordinary Shareholders’ Meeting and is equivalent to Ps. 3.8230950615 for each outstanding share. The capital reduction payment corresponds to the thirty such payment. Company Description: Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019. This press release may contain forward-looking statements. These statements are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial conditions, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01-800-563-0047. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation. IR Contacts: Saúl Villarreal, Chief Financial Officersvillarreal@aeropuertosgap.com.mxAlejandra Soto, IRO and Corporate Finance Directorasoto@aeropuertosgap.com.mxGisela Murillo, Investor Relationsgmurillo@aeropuertosgap.com.mx / +52-33-3880-1100 ext. 20294
LOS ANGELES (AP) — Chiney Ogwumike is already one of the busiest athletes in professional sports but the multifaceted basketball player and radio host added another accomplishment during the offseason. Ogwumike is the executive producer of “144,” a documentary that chronicles the 2020 WNBA season inside a bubble in Bradenton, Florida. The documentary will premiere on ESPN on Thursday night, a day before the start of the WNBA's 25th season. “Being an executive producer of a film is something that people devote their lives to. To be able to have that position for me is an honor and a privilege," said Ogwumike, a star forward with the LA Sparks. “There's also pressure because we want everyone to understand that the WNBA has been on the forefront of not only being the best professional basketball league in the world, but also on the forefront of so much change as well.” The documentary — whose title refers to the total number of players who played in the bubble — takes an unflinching look at the season, from the physical and emotional toll of playing a 22-game regular season in 50 days with daily coronavirus testing, to players reacting to police violence and making social statements. The players dedicated the season to Breonna Taylor while also calling attention to social activism. Ogwumike sat out the season due to health precautions but had daily conversations with the production crew and other players inside the bubble. She maintained her role as vice president of the WNBA Players Association while her sister, Nneka, serves as the president. Chiney Ogwumike said the entire process — from getting two people inside the bubble to film to players agreeing to talk — was an exercise in trust. “Being a player myself currently, I think that stripped down any of the apprehensions that normally players have because they knew that was one of them behind the camera. They knew that there’s a greater purpose for that camera being there,” she said. “We also didn't know what the season was going to produce, and now I think it's so special considering what happened and what transpired about how we were there to witness that.” The documentary also features Las Vegas Aces star Dearica Hamby caring for her 3-year-old daughter in the bubble as well as players meeting after the shooting of Jacob Blake to decide whether to continue the season. During one part of the documentary, Natalie Achonwa discussed fearing for her boyfriend's safety while saying the bubble was one of the few safe places to be. The players association meeting offers the best picture yet of what athletes were dealing with inside a bubble. “How often do you get an entire professional sports league, one of women in particular, together in one location trying to problem solve a problem that they did not create? Yet, because we are a league full of predominantly Black women, we have to countlessly step up and advocate for others,” Ogwumike said. "You’re in this situation of trying to figure out how to help, when naturally people are still going through their own personal struggles. That just shows the demonstration of strength. There are people that may not agree to everything, but at the end of the day, we stand together. "People are saying, ‘How do these women do it?’ Well, guess what? You can see it in real time now." Director Jenna Contreras said she shot 140 hours of footage and conducted 64 interviews during her 62 days in the bubble. Contreras said it took six weeks to log all the footage before the process of cutting it down to 77 minutes began in December with her, codirector Lauren Stowall and Ogwumike. “It was a pretty ambitious timeline, but with the subject matter and social injustice, it remains on the forefront in people's mind,” Contreras said. Ogwumike said players who have seen screen copies of the documentary have become emotional because it has brought up moments that remain fresh six or seven months later. When the season begins Friday, Ogwumike will be one of the key players for the Sparks, who reached the second round of the playoffs last season. She averaged 9.6 points and 5.8 rebounds while shooting 49.4% from the field in 2019. That comes along with doing her afternoon show on ESPN Radio with Mike Golic Jr. as well as NBA analysis for ESPN. “I think it’s just growth mindset overall, you know, continuing to try to push boundaries. Whether it is being on radio in season, still doing broadcasting and hooping, these are all possibilities I am so thrilled to have. It's been amazing and honestly surreal,” she said. ___ More AP sports: https://apnews.com/hub/apf-sports and https://twitter.com/AP_Sports Joe Reedy, The Associated Press
Courtesy of FamilyThe first night that Janet Lee Lucas didn’t make it back home in 1983, her twin brother Jim felt more irritated than concerned.For two weeks, Janet and her 5-year-old son had been staying with Jim and his then-wife in Spokane, Washington, while Janet, who was “something of a partier,” as her brother put it, got back on her feet. It hadn’t quite worked: That afternoon, Jim had found Janet on a stool at a local bar called Bigfoot drinking with a couple of guys he didn’t know, he said.When Jim told her she needed to get home to her son, Janet, who was 22 at the time, didn’t want to hear it, he added.“She just started yelling and screaming at me, ‘I don’t love none of you guys.’ I wish I could remember her exact words, but I can remember her yelling and screaming,” Jim told The Daily Beast. “And I do remember the barmaid telling me I’ve got to leave or they’ll call the police. So I went out and sat in my car for a few minutes. And then I just left.”According to Jim, it was the last time anyone in his family would see Janet. At first, they thought she’d taken off. But as the days stretched into months and then years, the Lucas family—which includes three sisters and another three brothers in addition to Jim—began to suspect something else.“Deep down, inside, most of us believed something did happen to her—especially me,” Jim told The Daily Beast.They were right. On Monday, the Sheriff’s Department in Missoula, Montana, announced that, through DNA analysis, the remains of a young woman found back in 1985 and known for years as only “Christy Crystal Creek” had been positively identified as Janet Lee Lucas.And while Janet's identification helps resolve the mystery of her disappearance, it also thrusts her family into the middle of another one: Who killed her? And perhaps most horrifying of all: Could she have been yet another victim of suspected serial killer Wayne Nance, whom authorities believe operated in the Missoula area at that time?“The Cold Case Unit is reviewing evidence and reports from the Wayne Nance case file to identify any possible link between Nance and Janet,” the Missoula Sheriff’s Department said in its press release about Lucas’ identification.In 1985, a hunter tracking a bear in the woods south of Missoula found the skeletal remains of a young woman. She had been killed by two close-range gunshot wounds to the head. At the time, officials estimated her age to be between 20 and 35. They named her “Christy Crystal Creek” after the creek near where she’d been discovered.For years, investigators had worked to identify Christy Crystal Creek’s remains with little luck. Forensic anthropologists and odontologists had struck out, and missing persons databases had contained no hits, the Missoula Sheriff’s Department said in the news release.Part of the problem was that, because of some unique dental work, officials had thought “Christy” was likely of Asian descent—a belief that made its way into every police sketch done over the years, her brother recalled.“So that blew us way off,” Jim told The Daily Beast, noting that members of his family who had scoured missing-persons databases had never considered that “Christy” could be Janet. “I remember somebody seeing an article in the late 80s and didn’t even put two-and-two together.”But it’s the possible connection to Nance, who is believed to have killed six or more people, that kept “Christy Crystal Creek” alive in the imaginations of web sleuths for more than three decades.On Christmas Eve, 1984, just nine months before a hunter would find Janet Lucas’ remains, a photographer had come across the body of another young woman, later known as “Debbie Deer Creek,” in the same woods south of Missoula. Through DNA evidence, “Debbie” was identified in 2006 as Marci Bachmann, a 16-year-old who had met Nance in a Missoula bar. Authorities had long suspected Bachmann was one of Nance’s victims after some of her hairs had been found in his home. But until they identified her remains, they didn’t have proof that she’d died.Given that Lucas’ death likely occurred at a time and place where Nance was known to be active, the Missoula Sheriff’s Department press release indicated they are examining whether she may have been another of his victims. Nance, who holds the dubious distinction of being one of the only serial killers to have been killed by an intended victim, died in 1986 while attacking a couple in their home. He was never charged with any of the murders he’s suspected of committing.But Jim told The Daily Beast that he has come around to the idea that it’s likely Janet was one of Nance’s victims.“Never in a million years would I think she was probably killed by a serial killer,” he said, before adding, “To me, I’m almost certain that it was him. Because everything’s there. There’s always that slight, slight, chance that it was somebody else, but if you start doing the math and reading up on everything, it points to him, it points right back to him.”The Missoula Sheriff’s Department did not immediately respond to a request for comment for this story.After identifying Bachman in 2006, Missoula authorities began using DNA to try to identify “Christy’s” remains. But this connection took much longer. Earlier this year, authorities used a genealogy site to match Lucas’ DNA to a distant cousin, a process similar to the one used to identify the Golden State Killer in 2018.“After weeks of intense genealogy research, we were able to identify DNA relatives and family trees which led us to Janet's family in Spokane. After conducting numerous interviews and confirming our conclusions with additional DNA testing of relatives, we are now able to conclusively identify Christy Crystal Creek as Janet L. Lucas,” the department said in its press release.In addition to carrying the burden of not knowing what happened to his sister, Jim said that for the last four decades he’s also carried guilt that what happened at the bar means that her disappearance was somehow his fault.“I’ve driven by [Bigfoot] numerous times because I live north of Spokane now. I just glance over at it and I go back in time,” Lucas said. “I’ve been living with guilt. Maybe I should have just picked her up and brought her home in my car. But at the time I figured, you know, she’ll be home. We had some pretty harsh words.”Still, Jim told The Daily Beast, having at least a partial answer to what happened to Janet has offered a degree of closure for him and his family, and especially for Janet’s son, who is now in his 40s and has spent much of his life trying to find out what happened to his mother.“She would never take off and leave him for that amount of time, never in the world,” Lucas said of Janet’s son.“I think it’s more or less a relief we can bring her remains home and honor her by giving her a proper memorial,” he added. “We’re all grieving and wondering ‘what if’ and we’re in shock. But you know, Janet was loved, big time. Everybody cared about each other. Even if she had the wild side. We all had a wild side, and some of us grew out of it, some of us didn’t. But she was pretty young when she was taken from us. I’m sure she would have, too.”Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
The former prime minister is appearing before two committees of MPs investigating the collapse of the finance firm.
The Coral Gables City Commission voted Tuesday to move forward with a plan to sell a public parking lot for $3.5 million to a developer that would join the property with two adjacent lots for a new project.
Execution on Growth Strategy through the Acquisition of 540 MW Onshore Renewables Portfolio in Spain, Positioning Northland as a Top Ten Operator in a High Growth MarketTORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) today reported financial results for three months ended March 31, 2021. All dollar amounts set out herein are in thousands of Canadian dollars, unless otherwise stated. “We are off to a good start in 2021 with healthy first quarter financial results and strong progress on our growth plan,” said Mike Crawley, Northland’s President and Chief Executive Officer. “Our near-term strategy has been to further diversify our portfolio and bolster our cash flow profile, to support the advancement of our 4 – 5 GW of identified development projects. We are very pleased to have made significant progress on this front, with our recent announcement of the acquisition of a 540 MW onshore renewables portfolio in Spain. This new portfolio helps diversify our asset base while adding high-quality regulated cash flows that will help fund the development of our large offshore wind projects, particularly as new markets and opportunities continue to emerge for offshore wind globally.” First Quarter Highlights “As a global operator of renewable energy projects, primarily focused on offshore wind, over 60% of our Adjusted EBITDA is generated from our offshore wind facilities in the North Sea,” said Pauline Alimchandani, Northland’s Chief Financial Officer. “This segment experiences natural variations in wind resource, not only year over year, but also within any given year, resulting in variability in our business from quarter to quarter and year over year. However, over the course of time, this variability typically balances out. Our comparative performance in the first quarter 2021 was below long-term averages, compared to the performance in the first quarter of 2020 where offshore wind was well above historical norms. Even so, we generated solid financial results in the quarter and when combined with the relative stability in performance across the rest of our operating facilities and with offshore wind variability assumed to perform closer to long-term averages for the balance of the year, our full-year 2021 financial results are expected to remain in-line with guidance. Lastly, our balance sheet remains in solid position with approximately $875 million of liquidity on hand, following our recent $990 million equity raise, providing the Company with sufficient liquidity to execute on our identified growth initiatives.” Financial Results Sales decreased 8% to $613 million from $668 million in 2020 and gross profit decreased 11% to $549 million from $619 million.Adjusted EBITDA (a non-IFRS measure) decreased 14% to $360 million from $421 million in 2020.Free Cash Flow per share (a non-IFRS measure) decreased 40% to $0.66 from $1.10 in 2020.Adjusted Free Cash Flow per share (a non-IFRS measure) decreased 35% to $0.73 from $1.17 in 2020.Net income decreased 45% to $151 million from $275 million in 2020.2021 Financial Guidance remains unchanged from February 2021 with Adjusted EBITDA continuing to be in the range of $1.1 billion to $1.2 billion, Free Cash Flow per share in 2021 to be in the range of $1.30 to $1.50, and Adjusted Free Cash Flow per share in 2021 to be in the range of $1.80 to $2.00. Sales, gross profit and net income, as reported under IFRS, include consolidated results of entities not wholly-owned by Northland, whereas non-IFRS financial measures include Northland’s proportionate interest. Summary of Consolidated Results (in thousands of dollars, except per share amounts)Three months ended March 31, 2021 2020FINANCIALS Sales$612,766 $667,695 Gross profit548,747 618,775 Operating income306,306 394,551 Net income (loss)151,389 275,019 Adjusted EBITDA (a non-IFRS measure)359,804 420,771 Cash provided by operating activities408,454 367,594 Free Cash Flow (a non-IFRS measure)134,448 211,462 Adjusted Free Cash Flow (a non-IFRS measure)147,289 224,454 Cash dividends paid to common and Class A shareholders39,953 62,717 Total dividends declared (1)60,740 64,159 Per Share Weighted average number of shares - basic (000s)202,388 192,581 Net income (loss) - basic$0.44 $1.02 Free Cash Flow - basic (a non-IFRS measure)$0.66 $1.10 Adjusted Free Cash Flow - basic (a non-IFRS measure)$0.73 $1.17 Total dividends declared$0.30 $0.30 ENERGY VOLUMES Electricity production in gigawatt hours (GWh)2,603 2,974 (1) Represents total dividends paid to common shareholders including dividends in cash or in shares under the DRIP. First Quarter Results Summary Offshore wind facilities A key performance indicator for the offshore wind facilities is historical long-term average (LTA), where available, of the power production of each offshore wind facility. The following table summarizes actual electricity production and the LTA: Three months ended March 31, 2021 (1) 2020 (1) LTA (2)Electricity production (GWh) Gemini689 826 724 Nordsee One312 408 344 Deutsche Bucht279 349 314 Total1,280 1,583 1,382 (1) Includes GWh produced and attributed to paid curtailments. For Deutsche Bucht, includes pre-completion production for the first quarter of 2020.(2) Represents the average historical power production for the quarterly or annual period since the respective commercial operation date of the facility (2017 for Gemini and Nordsee One and 2020 for Deutsche Bucht) and excludes unpaid curtailments. Electricity production was 19% or 304 GWh lower than the same quarter of 2020, primarily due to low wind resource in the North Sea compared to last year, although consistent with quarterly and seasonal variability for offshore wind. Sales of $371 million decreased 17% or $74 million compared to the same quarter of 2020 primarily due to lower wind resource in the North Sea, partially offset by $10 million of favourable foreign exchange rate fluctuations. Operating income and Adjusted EBITDA of $243 million and $242 million, respectively, decreased 24% or $78 million and 20% or $62 million compared to the same quarter of 2020 primarily due to low wind resource in the North Sea compared to the same quarter last year. The following table summarizes Northland’s share of lost revenues from factors other than the low wind resource: Three months ended March 31, 2021 2020 Effect of Gemini price hedge (2021) or effect of APX below the SDE floor (2020) (1)$4,421 $9,784 Unpaid curtailment due to negative prices in Germany1,846 14,485 Unpaid curtailment due to grid outages in Germany2,010 111 (1) 2021 figure represents a realized hedge loss as a result of a wholesale price of €53/MWh. 2020 figure represents lost revenue as a result of a wholesale price of €28/MWh, below the SDE floor of €44/MWh. For additional details on the SDE floor, refer to disclosures within MD&A. Gemini’s revenue arrangement includes a mechanism that tops up the average Dutch wholesale market price for the year (the “APX”) to a fixed contractual rate per megawatt hour (MWh), though subject to a floor price (“SDE floor”) of approximately €44/MWh. The SDE floor exposes Gemini to some market price risk if the APX falls below the SDE floor. The APX has averaged below the SDE Floor for four of the facility's five years of operation. In 2020, Gemini experienced a significant decline in the APX below the SDE floor as a result of reduced energy consumption caused by pandemic-related lockdowns in Europe. As a result of this and the uncertainty relating to the duration of the pandemic, in the second quarter of 2020, Northland entered into financial derivatives for 2021, and to a lesser extent 2022 and 2023. These derivatives were effective in mitigating downside risk, with some exposure to lost revenues should the APX increase above the SDE Floor. Refer to Section 4.1: Operating Results of the MD&A for the three months ended March 31, 2021 and the 2020 Annual Report for additional information. Through the first quarter of 2021, the APX increased above the SDE floor, in part prompted by continued rising natural gas and carbon prices in the European Union, resulting in $4 million of lost revenue, compared to $10 million in the prior year period. Subsequent to the first quarter, the APX has continued to increase and as a result, Northland commenced entering into financial derivatives that will limit Gemini’s lost revenue for 2021 to similar levels as 2020. As summarized in the table above, for the three months ended March 31, 2021, the German offshore wind facilities incurred fewer unpaid curtailments compared to the same quarter of 2020 due to fewer periods of negative prices. Efficient natural gas facilities Electricity production decreased 5% or 56 GWh compared to the same quarter of 2020 primarily due to lower overall production, including fewer dispatches at Thorold and lower off-peak production at North Battleford despite high availability across all facilities. Sales for the three months ended March 31, 2021, increased 5% or $6 million compared to the same quarter of 2020 primarily due to higher flow through gas costs at North Battleford and annual price escalation at North Battleford and Thorold. Adjusted EBITDA was in line with the same quarter of 2020 largely due to the contractual structure of the efficient natural gas facilities which generally ensures stable operating results as long as the facilities remain available. Onshore renewable facilities Electricity production was in line with the same quarter of 2020 primarily due to a higher solar resource partially offset by a lower wind resource. Sales of $53 million were in line with the same period of 2020 primarily due to the same variances noted in electricity production. Adjusted EBITDA of $35 million was also similarly in line with the same period of 2020. Utilities Sales of $57 million for the three months ended March 31, 2021, increased 15% or $7 million compared to the same quarter of 2020 primarily due to partial contribution from EBSA last year as a result of its acquisition effective January 14, 2020 and due to optimization of operations under the regulated framework since the acquisition. Adjusted EBITDA increased 8% or $2 million compared to the same quarter of 2020 primarily due to the same factors, partially offset by the effect of differences in timing of recognition of regulated sales and associated pass-through costs. General and administrative (G&A) costs G&A costs of $16 million increased 27% or $3 million compared to the same quarter of 2020. Of this, G&A costs at the operating facilities were largely in line with the same quarter of 2020, while corporate G&A increased $3 million primarily due to higher personnel costs to support Northland’s growth. Development costs Development costs of $14 million decreased 29% or $5 million compared to the same quarter of 2020 mainly due to the effect of the commencement of capitalization of the Hai Long project in the third quarter of 2020 and timing of acquisition costs incurred, partially offset by the increased business development and personnel costs. Finance costs Net finance costs of $87 million decreased 7% or $6 million compared to the same quarter of 2020 primarily due to lower facility-level loan balances as a result of scheduled principal repayments. The first quarter of 2020 also included interest on the convertible debentures which were redeemed in the second quarter of 2020. Foreign exchange Foreign exchange loss of $30 million is primarily due to unrealized losses from fluctuations in the closing foreign exchange rate. Fair value gain on derivative contracts Fair value gain on derivative contracts was $55 million compared to a $35 million loss in the same quarter of 2020 primarily due to the movement in the fair value of interest rate swaps and foreign exchange contracts. Net income Net income of $151 million decreased 45% or $124 million in the first quarter of 2021 compared to the same quarter of 2020 primarily as a result of the factors described above, as well as a goodwill write-off of $30 million on the Iroquois Falls facility and accelerated depreciation expense of $14 million on Iroquois Falls’s property, plant and equipment due to the expiry of its PPA in December 2021, partially offset by a $2 million lower tax expense. Adjusted EBITDA Adjusted EBITDA of $360 million for the three months ended March 31, 2021, decreased 14% or $61 million compared to the same quarter of 2020. The significant factors decreasing Adjusted EBITDA include: $25 million decrease in operating results from Gemini primarily due to low wind resource and lost revenue from the Gemini price hedge, partially offset by the effect of higher wholesale market price; and$37 million decrease in operating results from the German wind facilities primarily due to low wind resource. Factors partially offsetting these decreases in Adjusted EBITDA were: $4 million increase in operating results primarily due to partial contribution from EBSA last year and improved solar resource at the solar facilities. Free Cash Flow Free Cash Flow of $134 million for the three months ended March 31, 2021, was 36% or $77 million lower than the same quarter of 2020. The significant factors decreasing Free Cash Flow include: $61 million decrease in overall earnings primarily due to factors affecting Adjusted EBITDA in the quarter, most notably lower wind resource in the North Sea;$9 million decrease in the contribution from Deutsche Bucht due to the effect of the one-time net pre-completion revenues recognized in free cash flow at term conversion in the first quarter of last year;$4 million increase in scheduled principal repayments at the offshore wind facilities, primarily Nordsee One;$5 million increase in non-expansionary capital expenditures primarily at North Battleford and Nordsee One; and$7 million increase in net financing costs, including a $3 million one-time refinancing fee paid at Deutsche Bucht and higher interest on corporate borrowings. The decrease in Free Cash Flow was partially offset by a $10 million decrease in current tax expense primarily due to lower contribution from offshore wind facilities. Adjusted Free Cash Flow of $147 million for the three months ended March 31, 2021, was 34% or $77 million lower than the same quarter of 2020 due to the same factors affecting Free Cash Flow, with growth expenditures remaining relatively consistent year over year. As at March 31, 2021, the rolling four quarter Free Cash Flow and the adjusted net payout ratio were 73% and 58%, respectively, calculated on the basis of cash dividends paid, compared to 58% and 52%for same quarter ending March 31, 2020. The increase in both net payout ratios was primarily due to lower Free Cash Flow and Adjusted Free Cash Flow partially offset by the reinstatement of the DRIP since September of 2020. Sources of liquidity in addition to Free Cash Flow – In addition to Free Cash Flow generated, Northland utilizes additional sources of liquidity to fund growth and capital investments. Additional liquidity sourced by management during the three months ended March 31, 2021 is summarized as follows: Three Months Ended March 31, 2021 2020Release of funds from debt service reserve facilities (1)73,723 60,079Dividend Reinvestment Program (DRIP)20,726 —Total$94,449 $60,079(1) Represents debt service funds released from Deutsche Bucht’s refinancing arrangement in 2021, and debt service funds released from implementation of Gemini’s debt service reserve facilities in 2020. Significant Events and Updates Business Update – The COVID-19 pandemic (“COVID-19”) has had significant effects across global economies and sectors, including reduced power demand within the renewable energy sector. Each of Northland’s operating facilities are deemed to be essential infrastructure and, as such, operations have continued uninterrupted to date. Management believes Northland continues to have sufficient liquidity available to limit the impact of COVID-19, while executing on its growth objective.Equity Offering – On April 21, 2021, Northland completed a bought deal equity offering (“Offering”) for 22.5 million common shares for aggregate gross proceeds of $990 million. The net proceeds of the Offering will be used to fund the cash purchase price of the Spanish Portfolio, with the remainder of the net proceeds applied to capital requirements including acquisition of Baltic Power, expected near-term capital commitments for identified development projects and to repay borrowings under Northland’s corporate revolving credit facility, which was fully repaid subsequent to the Offering. As a result, the Company will have approximately $875 million of liquidity on hand to fund growth initiatives, including its identified pipeline of offshore wind projects and other opportunities.Spanish Renewables Acquisition – On April 14, 2021, Northland announced it had entered into an agreement to acquire 96.5% of a portfolio of operating onshore renewable assets in Spain (the “Spanish Portfolio”) with a total combined net capacity of 540 MW. The Spanish Portfolio includes 33 operating assets comprised of onshore wind (424 MW), solar photovoltaic (66 MW), and a concentrated solar (50 MW) located throughout Spain. Total expected cash consideration for the Spanish Portfolio upon closing will be €345 million ($520 million) together with the assumption of debt totaling €716 million ($1,075 million), subject to working capital and other adjustments at closing date. Closing of the acquisition is expected to occur in the third quarter of 2021 subject to regulatory approvals and customary closing conditions. The acquisition places Northland as one of the top ten renewable power operators in Spain and creates a platform for growth in an attractive market for renewables.Baltic Power, Polish Offshore Wind Project Acquisition – On March 24, 2021, Northland successfully completed its previously announced acquisition of a 49% interest in the Baltic Power offshore wind project (“Baltic Power”) in the Baltic Sea with a total capacity of up to 1,200 MW of offshore Wind generation, for a total cash consideration of PLN 255 million ($82 million). Following Northland’s acquisition of its interest in the project, Baltic Power filed a first-round application with Poland’s Energy Regulatory Office to secure a 25-year Contract for Differences (“CfD”) as part of the Polish Government’s commitment, through the Polish Offshore Wind Act, to support an initial phase of 5.9 GW of offshore wind. First round of CfD awards are expected to be announced by mid-year 2021. Construction activities for Baltic Power are expected to start in 2023 with commercial operations anticipated in 2026.Enhanced Dispatch Contract (EDC) executed for Kirkland Lake Facility – In March 2021, Northland entered into an EDC for its Kirkland Lake facility with Ontario’s Independent Electricity System Operator. The EDC is effective from the third quarter of 2021 and will succeed the existing baseload PPA for the remainder of its term to 2030. The arrangement results in reduced greenhouse gas emissions and cost savings for Ontario electricity consumers while improving economics for Northland as a result of savings from reduced costs related to greenhouse gas emissions, maintenance, natural gas and gas transportation, as well as other variable cost savings. The economic benefits of the EDC in 2021 are expected to be offset by one-time capital expenditures at the facility, but it is expected to benefit Free Cash Flow for the remaining term of the PPA.New York 300 MW Onshore Wind Project Update – Northland continues to progress its onshore wind projects in New York State (“NY Wind”). In February 2021, Northland received and accepted contract price offers from the New York State Energy Research and Development Authority for 20-year indexed renewable energy credit offtake contracts for NY Wind. In addition, Northland is in the final stages of negotiations regarding key agreements for the projects and expects to be able to sign the Turbine Supply, Service and Maintenance and the Balance of Plant Agreements in 2021.Hai Long 1,044 MW Offshore Wind Project Update – On April 12, 2021, Hai Long received confirmation from the Taiwan Bureau of Energy that Hai Long 2A has secured approval for the Industrial Relevance Plan, which sets out Northland’s commitments to local supply chain and procurement, marking the achievement of a significant milestone.Deutsche Bucht Refinancing – In March 2021, Deutsche Bucht amended its debt facility agreement to reduce the interest rate on the facility’s senior debt to 2.3% (from approximately 2.6%). The amendment also included the addition of a debt service reserve facility, which released €50 million ($74 million) from funds previously restricted for debt service, immediately enhancing Northland’s corporate liquidity.Northland Corporate Credit Rating Re-affirmed – In March 2021, Standard & Poor’s reaffirmed Northland’s corporate credit rating of BBB (Stable). In addition, Northland’s preferred share rating was reaffirmed on Standard & Poor’s Canada scale of BB+.Sustainability Report - Northland is pleased to announce the release of its fourth annual Sustainability Report, highlighting its 2020 Environmental, Social and Governance (ESG) achievements and sustainability strategy going forward. The report is centered around the four pillars of planet, people, community and business, and sets out how Northland will meet its 2030 targets of reducing its electricity generation carbon intensity by 65% (from 2019 levels), while increasing gross renewable energy capacity by 4–5 GW. Copies of the report are available on Northland’s website at northlandpower.com. Outlook Northland is committed to increasing shareholder value by creating high-quality projects underpinned by revenue arrangements that deliver predictable cash flows. Management actively seeks to invest in technologies and jurisdictions where Northland can benefit from an early-mover advantage and establish a meaningful presence while striving for excellence in managing Northland’s operating facilities by enhancing their performance and value. As of May 12, 2021, management continues to expect Adjusted EBITDA in 2021 to be in the range of $1.1 billion to $1.2 billion, Free Cash Flow per share in 2021 to be in the range of $1.30 to $1.50 and Adjusted Free Cash Flow per share in 2021 to be in the range of $1.80 to $2.00. Northland continues to have sufficient liquidity available to address the impact of COVID-19, while executing on its growth objective. As a result, the Company will have approximately $875 million of liquidity on hand to fund growth initiatives, including its identified pipeline of offshore wind projects and other opportunities. Management continues to monitor global developments and their potential impacts on Northland’s business activities and financial results. First-Quarter Earnings Conference Call Northland will hold an earnings conference call on May 13, 2021, to discuss its 2021 first quarter results. The call will be hosted by Mike Crawley, Northland’s President and Chief Executive Officer, and Pauline Alimchandani, Northland’s Chief Financial Officer, who will discuss the financial results and company developments before opening the call to questions from analysts. Conference call details are as follows: Thursday, May 13, 2021 10:00 a.m. ET Conference ID: 6996410 Toll free (North America): (833) 693-0550 Toll free (International): (661) 407-1589 The call will also be broadcast live on the internet, in listen-only mode and may be accessed on northlandpower.com. For those unable to attend the live call, an audio recording will be available on northlandpower.com on May 14, 2021. Northland’s unaudited interim condensed consolidated financial statements for the three months ended March 31, 2021, and related Management’s Discussion and Analysis can be found on SEDAR at www.sedar.com under Northland’s profile and on northlandpower.com. Annual and Special Meeting of Shareholders Northland Power will hold its Annual Meeting of Shareholders (“Meeting”) on Wednesday, May 19, 2020, at 11 a.m. ET. Northland Power’s Annual and Special meeting of shareholders will be held in a virtual-only meeting format. Shareholders will not be able to attend the meeting physically. Shareholders can attend the Meeting online, vote their shares electronically and submit questions during the Meeting, by visiting www.virtualshareholdermeeting.com/NPI2021. Instructions are available at northlandpower.com/en/investor-centre/annual-general-meeting.aspx Documents relating to the meeting are filed on SEDAR at www.sedar.com under Northland’s profile and on northlandpower.com. ABOUT NORTHLAND POWER Northland Power is a global power producer dedicated to helping the clean energy transition by producing electricity from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating clean and green power infrastructure assets and is a global leader in offshore wind. In addition, Northland owns and manages a diversified generation mix including onshore renewables and efficient natural gas energy, as well as supplying energy through a regulated utility. Headquartered in Toronto, Canada, with global offices in eight countries, Northland owns or has an economic interest in 2.7 GW (net 2.3 GW) of operating generating capacity and a significant inventory of early to mid-stage development opportunities encompassing approximately 4 to 5 GW of potential capacity. Publicly traded since 1997, Northland's common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B and NPI.PR.C, respectively. NON-IFRS FINANCIAL MEASURES This press release includes references to the Company’s adjusted earnings before interest, income taxes, depreciation and amortization (“Adjusted EBITDA”), Free Cash Flow, Adjusted Free Cash flow and applicable payout ratios and per share amounts, measures not prescribed by International Financial Reporting Standards (IFRS), and therefore do not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other companies. Non-IFRS financial measures are presented at Northland’s share of underlying operations. These measures should not be considered alternatives to net income (loss), cash flow from operating activities or other measures of financial performance calculated in accordance with IFRS. Rather, these measures are provided to complement IFRS measures in the analysis of Northland’s results of operations from management’s perspective. Management believes that Northland’s non-IFRS financial measures and applicable payout ratio and per share amounts are widely accepted and understood financial indicators used by investors and securities analysts to assess the performance of a company, including its ability to generate cash through operations. For reconciliations of these non-IFRS financial measures to their nearest IFRS measure, refer to SECTION 4.5: Adjusted EBITDA for a reconciliation of consolidated net income (loss) under IFRS to reported Adjusted EBITDA and SECTION 4.6: Free Cash Flow and Adjusted Free Cash Flow for a reconciliation of cash provided by operating activities under IFRS to reported Free Cash Flow and Adjusted Free Cash Flow. FORWARD-LOOKING STATEMENTS This press release contains certain forward-looking statements including certain future oriented financial information that are provided for the purpose of presenting information about management’s current expectations and plans. Readers are cautioned that such statements may not be appropriate for other purposes. Northland’s actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, the events anticipated by the forward-looking statements may or may not transpire or occur. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects,” “anticipates,” “plans,” “predicts,” “believes,” “estimates,” “intends,” “targets,” “projects,” “forecasts” or negative versions thereof and other similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” These statements may include, without limitation, statements regarding Northland’s expectations or ability to complete the acquisition of the Spanish Portfolio in the third quarter of 2021, on the terms negotiated by Northland or at all, Northland’s ability to integrate the Spanish Portfolio if the acquisition closes, the source of proceeds to pay for the acquisition of the Spanish Portfolio, future Adjusted EBITDA, Free Cash Flows (and as adjusted) and per share amounts, dividend payments and dividend payout ratios, guidance, and the closing date of the Offering, the completion of construction, completion, attainment of commercial operations, the potential for future production from project pipelines, cost and output of development projects, litigation claims, plans for raising capital, and the future operations, business, financial condition, financial results, priorities, ongoing objectives, strategies and outlook of Northland and its subsidiaries. These statements are based upon certain material factors or assumptions that were applied in developing the forward-looking statements, including the design specifications of development projects, the provisions of contracts to which Northland or a subsidiary is a party, management’s current plans and its perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Although these forward-looking statements are based upon management’s current reasonable expectations and assumptions, they are subject to numerous risks and uncertainties. Some of the factors that could cause results or events to differ from current expectations include, but are not limited to, the ability to satisfy all closing conditions to the acquisition of the Spanish Portfolio and the Offering, respectively, risks associated with assets such as those in the Spanish Portfolio, Northland’s ability to integrate the Spanish Portfolio, revenue contracts, impact of COVID-19 pandemic, Northland’s reliance on the performance of its offshore wind facilities at Gemini, Nordsee One and Deutsche Bucht for approximately 60% of its adjusted EBITDA and Free Cash Flow, counterparty risks, contractual operating performance, variability of revenue from generating facilities powered by intermittent renewable resources, offshore wind concentration, natural gas and power market risks, operational risks, recovery of utility operating costs, permitting, construction risks, project development risks, acquisition risks, financing risks, interest rate and refinancing risks, liquidity risk, credit rating risk, currency fluctuation risk, variability of cash flow and potential impact on dividends, taxation, natural events, environmental risks, health and worker safety risks, market compliance risk, government regulations and policy risks, utility rate regulation risks, international activities, reliance on information technology, labour relations, reputational risk, insurance risk, risks relating to co-ownership, bribery and corruption risk, legal contingencies, and the other factors described in the “Risks Factors” section of Northland’s 2020 Annual Information Form, which can be found at www.sedar.com under Northland’s profile and on Northland’s website at northlandpower.com. Northland’s actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur. The forward-looking statements contained in this release are based on assumptions that were considered reasonable on May 12, 2021. Other than as specifically required by law, Northland undertakes no obligation to update any forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise. For further information, please contact: Mr. Wassem Khalil, Senior Director, Investor Relations647firstname.lastname@example.org
Stodden became famous as the teenage bride of actor Doug Hutchison.
PHOENIX (AP) — The Arizona Diamondbacks continued to deal with a surge of early-season injuries, putting starting pitcher Zac Gallen and first baseman Christian Walker on the 10-day injured list Wednesday. Gallen has a sprained right ulnar collateral ligament, which is the ligament replaced in Tommy John surgery. Walker has a sore right oblique; a similar injury put him on the IL earlier this season. Gallen has emerged as one of baseball’s top young pitchers. He finished ninth in the NL Cy Young Award voting last season and had a 3.04 ERA through five starts this year. Manager Torey Lovullo was confident the D-backs’ medical team caught Gallen’s injury early, saying the elbow sprain was “minor” and that he was hopeful the 25-year-old would be able to avoid having the Tommy John procedure. “We have multiple opinions that are coming in and as of right now, it looks like we’re going to reassess in a couple weeks,” Lovullo said. Gallen missed his first start of the season with a hairline fracture in his right forearm that happened when he was taking batting practice during spring training. Lovullo said the two injuries aren’t related. Matt Peacock was to make his first career start in Gallen’s place on Wednesday against the Miami Marlins. Walker has already missed three weeks this season because of oblique soreness. The 30-year-old returned on May 4 and played in seven games before getting hurt again on Monday. Lovullo said Walker’s injury is in the same general area. “These are challenging times,” Lovullo said. “It’s stuff we talk about, stuff we budget for and what I’ll say is every team walks through very challenging situations. It’s how we respond to those situations that’s going to separate us.” Gallen and Walker join a host of other D-backs who have made trips to the injured list this season. Outfielders Ketel Marte, Kole Calhoun and Tim Locastro, shortstop Nick Ahmed and pitchers Joakim Soria, Tyler Clippard and Taylor Widener have all missed time with injuries. The Diamondbacks called up pitcher Seth Frankoff and utility player Andy Young to take the place of Gallen and Walker on the active roster. ___ More AP MLB: https://apnews.com/hub/MLB and https://twitter.com/AP_Sports David Brandt, The Associated Press
RICHMOND, Va. (AP) — President Joe Biden signed an executive order Wednesday meant to strengthen U.S. cybersecurity defenses in response to a series of headline-grabbing hacking incidents that highlight how vulnerable the country's public and private sectors are to high-tech spies and criminals operating from half a world away. The order will require all federal agencies to use basic cybersecurity measures, like multi-factor authentication, and require new security standards for software makers that contract with the federal government. Officials are hoping to leverage the federal government's massive spending power to improve security across all types of software. “The federal government needs to make bold changes and significant investments in order to defend the vital institutions that underpin the American way of life,” Biden said in his executive order. His actions come as the administration has been grappling with its response to a massive breach by Russia of federal agencies and ransomware attacks on private corporations. Biden's executive order was announced shortly after the nation’s largest fuel pipeline restarted operations Wednesday, days after it was forced to shut down by a gang of hackers. The disruption of Colonial Pipeline caused long lines at gas stations in the Southeast. And the U.S. sanctioned the Kremlin last month for a hack of several federal government agencies, known as the SolarWinds breach, that officials have linked to a Russian intelligence unit and characterized as an intelligence-gathering operation. The AP previously reported that Russian hackers gained access to an email account belonging to the Trump administration’s acting homeland security secretary, Chad Wolf. "The United States is simply not prepared to fend off state-sponsored or even criminal hackers intent on compromising our systems for profit or espionage," Sen. Mark Warner, the Virginia Democrat who leads the Senate Intelligence Committee, said in a statement. Warner praised the executive order but said Congress needs to do more to address the country's vulnerabilities in cyberspace. The order also creates a pilot program to develop a rating system, similar to how New York City requires restaurants to display letter grades that correspond to scores received from sanitary inspections, to show whether software was developed securely. Biden's order will also require IT service providers that contract with the federal government to share certain information about cyber breaches, an information-sharing program that officials say will improve the county's cybersecurity as a whole. The order also establishes a cybersecurity safety review board that's tasked with studying major cyber incidents and coming up with concrete recommendations. It's modeled after the National Transportation Safety Board. As a nod to how influential the private sector is in cybersecurity, the new board will be co-chaired by an official from the government and another from the private sector. Alan Suderman, The Associated Press
Ben Affleck and Jennifer Lopez took a quick getaway to Montana following their breakups from Ana de Armas and Alex Rodriguez, respectively
The Yankees are on Day 2 of a 10-game road trip.
South Carolina’s elected constitutional officers, including the governor, treasurer and superintendent, have not had a raise since 1994.
Ivan Menezes, chief executive of Diageo, spoke out against the 'outrage' of racism after the killing of George Floyd and has given $1m to help Black communities in America recover from COVID-19.
ITV chief executive Carolyn McCall has been named the EMpower Executive Advocate of the year 2021 for her work promoting and supporting BAME people in the workplace.
Boris Johnson has said there is ‘increasing concern’ in the UK about the variant first identified in India.
The ranking celebrates 100 senior people of colour who are leading by example and are removing barriers on the pathway to success for ethnic minority employees.
Covid research: variant found in India may spread faster than type detected in KentReports that Sage will meet on Thursday to discuss threat with PHE figures expected to show big jump in cases linked to variantCoronavirus – latest updatesSee all our coronavirus coverage Covid testing site in the City of London. Photograph: Hollie Adams/Getty Images