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Australia’s Canva begins share sale at $42 billion valuation

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(Reuters) -Australian graphic design platform Canva launched an employee stock sale that values the company at $42 billion, it said on Wednesday, ahead of a reported IPO this year.

The stock sale comes at time when the company is investing heavily in AI tools for its more than 240 million monthly active users.

Employees will be able to sell their shares to both new and existing investors in the funding round led by shareholder Fidelity Management, Canva said. JPMorgan’s asset management division is joining as a new investor.

“Identifying companies that can provide investors with pivotal exposure to breakthrough work in AI is an important pillar of our research in active management,” Felise Agranoff, a portfolio manager at a JPMorgan Asset Management arm said.

“We believe that Canva stands out in the design sector and can help create long-term value for investors.”

Canva Co-Founder and COO Cliff Obrecht said the funding round was “significantly oversubscribed”.

Details of the number of shares to be sold were not revealed.

Launched in 2013, Canva is a web-based platform that lets users design everything from wedding invitations and birthday cards to social media posts and presentations.

The company recently introduced AI-powered tools that allow users to generate designs and interactive elements using plain English. It reported annualised revenue of $3.3 billion.

Technology-focused news website The Information reported last year that Canva’s IPO was expected to happen in 2025.

(Reporting by Chandni Shah in Bengaluru and Byron Kaye; Editing by Harikrishnan Nair)

Lucy Connolly released from prison after race hate post on X

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A woman who was jailed for stirring up racial hatred in the aftermath of the Southport attack has been released from prison.

Lucy Connolly, 42, whose husband serves on Northampton Town Council, pleaded guilty in September after posting the expletive-ridden message on X the day three girls were stabbed in Southport in July 2024.

Connolly, from Northampton, called for “mass deportation now” and urged her followers on X to “set fire” to hotels housing asylum seekers.

She was released from HMP Peterborough earlier after she was handed a 31-month prison sentence in October at Birmingham Crown Court.

In October, Connolly was ordered to serve 40% of her sentence in prison before being released on licence.

The former childminder posted her tweet on X on 29 July.

On 6 August she was arrested, by which point she had deleted her social media account, but other messages were found by officers after they had seized her phone.

The post was viewed 310,000 times in the three-and-a-half hours before she deleted it.

Later in court she admitted to inciting racial hatred by publishing and distributing “threatening or abusive” written material on X.

Gabbard to slash offices, nearly half of staff at ODNI

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Director of National Intelligence Tulsi Gabbard plans to slash 40 percent of the agency’s staff by October in a move she said would help transform the head of the intelligence community into “ODNI 2.0.”

Gabbard’s cuts would reassign roles or eliminate various centers within the Office of the Director of National Intelligence (ODNI), including those that monitor foreign efforts to influence Americans; the proliferation of weapons of mass destruction, including biological weapons; and a team monitoring for cyberattacks.

fact sheet from ODNI boasts the department has already slashed 500 jobs and that the future cuts would save an estimated $700 million at the agency, which helps coordinate among 18 different agencies that make up the sprawling U.S. intelligence community.

Targeted in the restructuring is the Foreign Malign Influence Center (FMIC), which has dedicated itself to tracking the efforts of U.S. adversaries to influence the U.S. public through social media and disinformation campaigns designed to sow division and shift votes.

The Trump administration argues the center has been used “to justify the suppression of free speech” and cited its work in responding to the Hunter Biden laptop.

ODNI also accused the Foreign Malign Influence Center of “falsely alleging Putin ‘aspired’ to help President Trump win the 2016 election,” though that conclusion is shared by most reports that have evaluated Russia’s efforts in the 2016 contest, including in a bipartisan report from the Senate Intelligence Committee.

Gabbard argued that other elements of the intelligence community already monitor foreign influence campaigns, “making FMIC redundant” — the same argument used for the National Counterproliferation and Biosecurity Center.

The fact sheet argues it biosecurity mission is no longer needed after the COVID-related national emergency. 

“It has become apparent that taking action to address global health issues falls well outside of ODNI’s core mission,” ODNI states.

Gabbard said the need for the shift was part of “ending the weaponization of intelligence and holding bad actors accountable.” 

“Over the last 20 years, ODNI has become bloated and inefficient, and the intelligence community is rife with abuse of power, unauthorized leaks of classified intelligence, and politicized weaponization of intelligence,” Gabbard said in a statement. 

“ODNI and the IC must make serious changes to fulfill its responsibility to the American people.”

The shift comes a day after Gabbard revoked the security clearances of 37 current and former intelligence officials, many with ties to prior Democratic administrations.

Even as a top Democrat agreed ODNI could use a revamp, he argued Gabbard was not the person to deliver it.

“Twenty years after it was established, there is broad, bipartisan agreement that the Office of the Director of National Intelligence is in need of thoughtful reform. The Intelligence Authorization Act directs Director Gabbard to submit a plan to Congress outlining her proposed changes, and we will carefully review her proposals and conduct rigorous oversight to ensure any reforms strengthen, not weaken, our national security,” Sen. Mark Warner (D-Va.), the top Democrat on the Senate Intelligence Committee, said in a statement.

“But given Director Gabbard’s track record of politicizing intelligence — including her decision just yesterday to revoke security clearances from career national security officials — I have no confidence that she is the right person to carry out this weighty responsibility.”

Mark Zaid, a longtime national security lawyer, said the redesign was a clear effort to cut staff members who might push back against the Trump administration

“This isn’t about reform. It isn’t about strengthening our intelligence agencies. It is about the Installation of loyalists & getting rid of anyone who opposes the patrimonialistic/authoritarian policies of Trump, regardless of whether DEM or GOP,” he wrote on the social platform X.

But the plan won praise from Republican members of Congress.

“Anyone involved in the IC and intelligence oversight has known for over a decade that the ODNI has been in desperate need of reform to return the agency to its critical national security mission. This is an excellent first step in the right direction,” House Intelligence Chair Rick Crawford (R-Ark.) said in a statement.

“Correcting the direction of a large institution, grounded in its ways, will never be easy and will take time. It’s bound to be laden with obstructions and those looking to undermine change. But change is in order. President Trump and Director Gabbard are leading the charge by not just calling out the problems but taking action to address them.”

Gabbard also proposes eliminating a number of other offices she accused, without evidence, of leaking intelligence of political biases.

Among those slashed is the External Research Council, which Gabbard said amounted to “politically appointed partisans who brought their external biases,” as well as the Strategic Futures Group, responsible for long-term forecasting on threats, which Gabbard accused of being used “to push a partisan political agenda.”

It’s not entirely clear how many staff work at ODNI, but that figure has been a target of Senate Intelligence Chair Tom Cotton (R-Ark.), who earlier this year said the office had nearly 2,000 staff.

“The ODNI staff is measured in the thousands, when it should be measured in the dozens, maybe a few hundred,” Cotton said at a hearing at the beginning of the year.

“I promise, that’s going to change.”

Cotton on Wednesday praised the move, even as he referenced the need for congressional review.

“Congress created the ODNI to be a lean organization that used small staffs to coordinate across the Intelligence Community and execute specific, important tasks. Today’s announcement is an important step towards returning ODNI to that original size, scope, and mission. And it will help make it a stronger and more effective national security tool for President Trump,” he said in a statement.

“I look forward … to working with Director Gabbard to implement these reforms and provide the ODNI with the legislative relief necessary to ensure our Intelligence Community can focus on its core mission: stealing secrets from our adversaries.”

Updated at 6:42 pm. EDT

Scotts Miracle-Gro Tried Playing Both Sides: Weed Killers, ‘Weed’ Growers

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Scotts Miracle-Gro Tried Playing Both Sides: Weed Killers, ‘Weed’ Growers

‘Nicest judge in the world’ dies aged 88

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US celebrity judge and social media star Frank Caprio has died aged 88, his family has said.

Over a 40-year career in Rhode Island, he famously used compassion and humour to make judgements that took into consideration the personal circumstances of the people in the dock.

Videos of Judge Caprio presiding over cases on his hit TV show Caught in Providence have had billions of views on social media, earning him the title the “nicest judge in the world”.

His death following a diagnosis of pancreatic cancer was announced on his official Instagram account, where he was remembered for his “warmth” and “unwavering belief in the goodness of people”.

Judge Caprio had presided over thousands of cases in his hometown of Providence, Rhode Island, before embarking on a TV career.

His signature courtroom style produced viral clips ranging from him inviting children to sit with him behind the bench during cases, to announcing a “mini-judge” plushie of himself.

A TikTok video showcasing his morning routine – brushing his teeth, signing his book and watching videos of his own show – has had more than 5m views.

In an 2019 interview, Judge Caprio said his courtroom proceedings “show a slice of life of Rhode Island that is very interesting, and it reflects the same issues people are experiencing nationwide”.

David Caprio, his son, thanked fans for their love and support and urged people to “spread a little kindness” in his father’s memory.

In an Instagram statement to his 3.4 million followers, Judge Caprio was remembered for the “countless acts of kindness he inspired”.

“His warmth, humour, and kindness left an indelible mark on all who knew him,” the statement said.

During its run, Caught in Providence was nominated for three Daytime Emmys, with Judge Caprio earning two of his own nominations last year.

The company behind it, Debmar-Mercury, paid tribute to Judge Caprio’s “unique brand of compassion and common sense approach”.

“We will miss him dearly,” co-presidents Mort Marcus and Ira Bernstein said in a statement.

After being diagnosed with pancreatic cancer in 2023, Judge Caprio said he was “fully prepared to fight as hard I can” and thanked followers for their support.

In one of his last social media posts, Judge Caprio announced he was back in hospital after suffering a “setback” in his treatment and asked his followers for their prayers.

Judge Caprio is survived by his wife, Joyce Caprio, of almost 60 years, their five children, seven grandchildren and two great-grandchildren.

National Guard presence causes headaches, backlash in DC

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