Diageo says Europe is weak

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald DIAGEO, the world’s biggest spirits group, said trading in Europe was weaker as it met forecasts with a five per cent rise in first-quarter underlying sales driven by growth in emerging markets.The maker of Smirnoff vodka, Captain Morgan rum and Guinness also stuck to its forecast to see higher profit growth this year than last as Russia, Latin America, Africa and Asia help offset difficult conditions in Europe. Chief executive Paul Walsh said the group faced tough trading in Greece, and Spanish net sales were down markedly year-on-year, reflecting the debt crisis crippling these southern European economies.“The consumer environment in Europe is slightly weaker than we expected in the prior year,” Walsh said in a trading update for its July-September first quarter and ahead of its annual general meeting. The European region produces nearly a third of the group’s profit. Spain is one of Diageo’s three key markets in Europe along with Britain and Ireland, which together make up over half of the group’s European sales. The group reported a strong performance from operations in Latin America, Africa and Asia Pacific, while North America posted stronger growth than in the previous year.“The company is seeing a slightly improved growth trend in the US market which in very encouraging… However the European consumer environment has deteriorated versus last year driven by weakness in Greece and Spain,” said analyst Anthony Bucalo at brokers Credit Suisse. whatsapp Diageo says Europe is weak Thursday 14 October 2010 8:26 pm Sharecenter_img KCS-content Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Tags: NULLlast_img read more

Colombia’s Floridablanca region allows casinos to reopen

first_imgThe pilot reopening is in line with regulations set out in a decree published by Colombia’s Ministry of Health in July, which allows districts and municipalities to authorise the reopening of casino and bingo establishments as part of a wider pilot programme. These include the placement plexiglass barrier at certain gaming points, as well as enhanced cleaning measures, installing signage about how to prevent the spread of Covid-19, and banning the consumption of food and beverages on site. Colombia’s Floridablanca region allows casinos to reopen Regulation All facilities will be required to put in place a number of Covid-19 measures to ensure the protection of both customers and employees. Floridablanca has become the latest Colombian municipality to announce that casinos and gaming facilities in the region will be permitted to reopen, following a period of enforced closure due to the novel coronavirus (Covid-19) pandemic. It is estimated that during the six months of enforced closure, the region lost out on approximately COP2bn in gambling tax income. Topics: Casino & games Legal & compliance Casino regulation Regulation Meanwhile, Colombia’s gambling regulator (Coljuegos) this week also published regulations for video bingo, which will be legal in the country until the end of 2021. This week, the Mayor of Bogotá, Colombia’s capital, authorised the reopening of the city’s land-based gaming sector, including 515 casinos and 17 bingo halls. In August, the Ministry of Health approved the pilot plans, providing all establishments taking part in programmes comply with safety guidelines. Floridablanca is home to 554 gambling facilities, which employ more than 180 people and generates around COP330m (£67,856/€74,043/$86,225) in tax revenue for healthcare in the region.center_img Operators may offer up to two draws annually in different months, and must return 58% of stakes to players as winnings. Revenue would not be subject to gaming or lottery duties, or value added tax, but operators would have to pay 12% of turnover to the state. New rules allow that bingo cards to be sold at points of sale arranged by the operator or in gaming establishments, but not online or outside of the state in which the game is organised. In addition, the country’s government ratified Decree 808, which, introduced in June, has been designed to help shore up the country’s gambling industry and protect funding for its healthcare system in the wake of the Covid-19 crisis. Nicolás Contreras, the Secretary of Tourism and Economic Development for the Floridablanca region, confirmed the news this week, saying the reopening will begin with an initial nine casinos. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter These include that physical barriers must be used to separate customers at slot machines, all devices must be disinfected after use, and the consumption of food and alcoholic beverages will also be prohibited. Subscribe to the iGaming newsletter Email Address Regions: LATAM Colombia 25th September 2020 | By Aaron Noylast_img read more

Can the GB gambling sector bridge the communication divide?

first_imgThe reasons for the antagonism between the pro- and anti-gambling sides are longstanding. The amounts of money involved, the (at times devastating) impact problem gambling can have on those affected, the industry’s business models or the simple fact that gambling is an easy sector to oppose when it comes to public opinion and support. Opening communication channels?However, the criticisms and calls for further-reaching reforms from the All-Party Parliamentary Group for Gambling-related Harm (APPG-GRH), the House of Lords’ Select Committee on the Social and Economic Impact of the Gambling Industry and campaigning groups such as Clean Up Gambling, have not abated. In fact, they are even more adamant and claim the changes implemented by BCG members are largely cosmetic and don’t go far enough. Can the GB gambling sector bridge the communication divide? As for stake limits on online slots, Follis says: “When you introduce bans and restrictions such as those it’s like squeezing a balloon: the activity will go up somewhere else.” Similar aimsDespite the calls for dialogue, the one constant seems to be how little of it there is. However, talk to those involved in the debate and their respective starting points don’t seem that distant from one another. As an overriding aim, all want to see a reduction in the rates of problem gambling in the UK and are committed to enhancing responsible gambling measures through education, communication and treatment. On the other side of the debate, Gary Follis, director of public affairs at the Betting and Gaming Council, says: “Some people want bans on certain parts of the industry and some are prohibitionists, but I think that’s a minority. Regions: UK & Ireland The highly critical – and occasionally unjustified – media coverage that has followed the industry in recent years, adding to an already toxic situation. He also points to polls commissioned by CUG that show support for an outright ban on online gambling. However, he adds, CUG “doesn’t support such a ban, because we don’t think people would be protected by such a measure”. Such figures are striking, although critics have questioned how they are reached and the methodology behind them. 28th September 2020 | By contenteditor The Betting and Gaming Council has replaced the ABB and is much more proactive in committing to improving responsible gambling practices and ensuring player safety. The issues Ketteley puts forward are also about how much onus is placed on operators to ensure a fail-proof system of player safety. After all, if all the responsibility is placed on the gambling company, where is the line drawn between personal and corporate responsibility? Matt Zarb-Cousin heads up the Clean Up Gambling (CUG) pressure group and says that despite what gambling executives may believe, “CUG is not anti-gambling, we believe it is better if it is legal and regulated”. The recent claims that the Prime Minister and his senior adviser Dominic Cummings want to see action taken and have vowed to get involved in the upcoming Gambling Act review adds to the sense that trouble may be brewing for operators. The news that former MP and deputy leader of the Labour Party Tom Watson has joined Paddy Power and Betfair parent Flutter as an advisor has also been criticised, with  some pointing to his past criticisms of the bookmaker and the industry in general. Some might also argue it a good thing that a major operator is hiring a former politician – and a critical one at that – to oversee efforts to raise standards. There have been numerous calls for calm and cool heads in the often-heated debate around gambling regulations in Great Britain. Things are reaching a crescendo, especially due to the highly emotive nature of topics under discussion – addiction, debt, children being exposed to gambling an early age and, in some tragic cases, suicide have all been linked to the industry by its critics. With regards to Flutter itself, it will surely look even worse if the group goes on to ignore his recommendations just because they are inconvenient or costly. In addition, Watson will bring a perspective that many in the industry will not be familiar with, which could broaden horizons and help it shape a more effective policy platform. “[And] in order for it to be regulated properly we think it needs to take into account some of the principles that regulate offline gambling such as stake limits in slots in casinos,” he adds. “It should take into account the reality that some products are more addictive than others.” “The increase in the voluntary levy (to treat problem gambling) gives every appearance of being an attempt, so far successful, to delay the imposition of a mandatory levy.” The Lords report goes on to say that all reforms to prevent potentially excessive levels of play, such as the ban on credit cards introduced in April, have been imposed on the industry rather than instigated by operators. Tom Watson’s arrival on the scene may help mitigate against the hardest reforms, but he might also persuade BGC members into conceding more ground than they have been willing to up to now and thus help find a middle ground. In the meantime, even if the atmosphere between the different sides in the debate is unlikely to improve in the public realm, Flutter’s recent moves might point to more constructive initiatives behind the scenes. The APPG-GRH believes the BCG’s initiatives do not go far enough. It described the ten pledges setting out the standards expected of BGC members at the start of novel coronavirus (Covid-19) pandemic as “very weak”, already part of operators’ Licence Conditions and Codes of Practice (LCCPs), or calling more clarity on how they would actually work in practice.  Follis also points to the BGC’s ‘whistle to whistle ban’ on advertising around live sports broadcasts, introduced in Summer 2019, which “has led to a 97% drop in gambling adverts seen by children, and that 20% of all BGC members advertising is now made up of responsible gambling messaging”. Zarb-Cousin cites the House of Lords report that stated that 60% of the industry’s profits come from 5% of players “who are already problem gamblers, or are at risk of becoming so”. Room for compromise?If the pro- and anti-gambling camps are at opposite ends of the spectrum as to how they might achieve those aims, is there some actual dialogue behind the scenes between them that we are not privy to? “I’ve always said I’d talk to anyone. And today, for the first time since launching Gamvisory, I talked to an industry director,” he wrote on social media. “I have to say that I was pleasantly surprised by what his company are doing. Could they do better? Absolutely. But they’re miles ahead of others.” Westminster reportsThe APPG-GRH does not say it explicitly but both its report and that of the Lords effectively call for statutory legislation to push reforms through. He adds that he would be more concerned “with outright bans of any type that would weaken the ability of licensed companies to compete with offshore operators and would have a significant financial impact on sports clubs and federations”. Some are making gloomy predictions of British gambling operators’ future prospects as the long-awaited Gambling Act review nears. But the aims of the pro- and anti-gambling camps may not be that far apart; even if the roadmaps differ substantially. The arrival of Tom Watson at Flutter could also pave the way for more constructive exchanges and productive reforms.center_img Such questions will keep on returning and once the terms of reference for the GA review are announced, battle lines will be drawn and months of campaigning to be expected. In such a volatile context it is worth asking if the industry is being criticised no matter what it does. After all, the BGC has coordinated efforts to cut down on levels of advertising, step in if customers show signs of excessive play, and most recently agreed to implement changes to game design, including slot spin speeds. An environment in which operators are speaking more constructively with politicians would be positive, while more frequent communication with former problem gamblers and campaigners would surely also improve things. So it was encouraging to see this tweet from Alex Massey, founder of Gamvisory, in which he praised a senior executive for getting in touch with him: AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Regulation “I don’t think there is any desire for prohibition among your average MP or observer, but we recognise that we have more work to do. That is what we are doing with our work to improve standards. Historically there might have been some reluctance to do that, but that’s not the case now.” Subscribe to the iGaming newsletter As for the reasons behind him joining Flutter, it seems obvious Watson will play a key role in channelling the industry’s lobbying efforts during the Gambling Act review. Flutter is often mentioned as one of the more forward-looking companies when it comes to gambling reform. And if the group’s senior executives are unable or reluctant to make public calls for change, then Watson, behind the scenes and with his political contacts, can do that work in a constructive and potentially more productive manner. “The BGC also needs to look at whether it is a standards or trade body, because if it’s a standards body it seems to be as quick as its slowest members. Members that don’t meet the standards it sets should get kicked out, and that never happens. In terms of communication, its tone and aggressive rebuttal on certain proposals is reminiscent of the ABB (Association of British Bookmakers), which refused to accept reality and ended up with £2 stakes (on FOBTs).” The House of Lords report welcomed the gambling industry’s willingness to change and for more effective controls in relation to protecting consumers, “but we are far from convinced that this is due to a disinterested openness to change” it said. The least that can be said is that Zarb-Cousin doesn’t pull his punches; but reading his and Follis’s comments there seems to be little room for compromise, although this might change with Watson’s new role at Flutter. Whether it succeeds in persuading lawmakers that it has done enough to ensure high levels of player safety will determine how far reaching the reforms will be. By Jake Pollard “I think it’s a mistake, because it’s important to work constructively. For example, the £100 affordability cap wouldn’t impact the majority of gamblers, but the BGC’s stance suggests it is not serious about reducing harm and as a result there won’t be much scope to engage with them in good faith. It feels disingenuous to oppose such proposals while at the same time claiming to agree with the need for reform. Reading those reports it seems like the argument will boil down to whether the industry can convince lawmakers that it can self-regulate effectively or if those calling for reform can persuade the government to write them into law. It’s also interesting to note that Watson’s arrival at Flutter answers this observation by James Noyes, author of the Social Market Foundation report that set out a blueprint for regulatory reform earlier this summer: “If there is no leader there is the risk of polarisation and binary debates that don’t address the underlying problems. We can talk of wanting a broad church, but if there is no senior politician saying: ‘I’m going to own this and make sure it’s done sensibly’, there is a risk of a lack of consensus and no bridge building,” says Noyes. Different pathsIf the stated aims are not that different, the way to achieve them is. As a summary of Clean Up Gambling’s key policy aims, Zarb-Cousin says he would like to see “the same stake and prize limits online as they are for offline machines, £100 cap on affordability, an independent ombudsman to resolve disputes, restrictions on advertising with the possibility of a complete ban and a statutory levy for treating problem gambling”.  “We are at a really key juncture in the history of the industry and as we discuss all the measures it can take to identify and address gambling harm and risk, the overarching discussion is also about what gambling regulation should be designed to do,” Ketteley continues. “Because there are some tragic stories of addiction and problem gambling, does that mean everyone who reaches £100 a month in deposits should be subject to affordability checks that dive deep into their personal life? What happens to those who spend more than that and don’t want to be subject to those checks? What is the role of personal responsibility in problem gambling? Are there failures at every level: among operators, banks, payment companies and individuals?” It added: “We believe that, particularly in the case of online gambling, such voluntary changes as there have been are the reaction to the industry’s recent realisation that the tide of opinion is turning against it. If change is to be reliably sustained, this will come only by government action and by continuing pressure from the public, the press, and of course the Gambling Commission.” “The APPG noted our concerns that all these fell well-short of what was required to properly protect people,” it said in a statement at the time. The BGC has been a lot more proactive than the ABB ever was in proposing responsible gambling measures and increasing levels of player safety, but the most common criticism it gets is that its proposals are just tinkering at the edges. For his part Gary Follis says the BCG would agree to an “ombudsman that is independent, can judge complaints and if it doesn’t conflict with other regulations”. On advertising he says the Lords report is unclear whether advertising contributes to increasing rates of problem gambling. Over the years the industry’s response to criticism has also been poor; the fixed odds betting terminals saga being the most high profile setting during which the industry, through its trade body at the time the Association of British Bookmakers, came across as particularly tone-deaf to the public mood and the image it was projecting. Regulation “The industry is happy to talk about suggestions and ideas, but all too often they close ranks and say they can’t support the various proposals, and that tends to be uniform across the board,” says Zarb-Cousin. Stephen Ketteley, head of the gaming and betting practice at the law firm Wiggin, says regulations, operators and all stakeholders “should prevent players from spending more than they can afford. No one disagrees on that, the question is how do we get to the stage where regulations can ensure that, while enabling the sector to be commercially viable”.  Email Addresslast_img read more

Tourist Company of Nigeria Plc (TOURIS.ng) Q12019 Interim Report

first_imgTourist Company of Nigeria Plc (TOURIS.ng) listed on the Nigerian Stock Exchange under the Tourism sector has released it’s 2019 interim results for the first quarter.For more information about Tourist Company of Nigeria Plc (TOURIS.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Tourist Company of Nigeria Plc (TOURIS.ng) company page on AfricanFinancials.Document: Tourist Company of Nigeria Plc (TOURIS.ng)  2019 interim results for the first quarter.Company ProfileThe Tourist Company of Nigeria Plc is a gaming and hospitality company in Nigeria which owns and operates Federal Palace Hotel and Casino in Victoria Island, Lagos. The company also operates a casino, banqueting facility and a pool club in the city. Its head office is in Lagos, Nigeria. The Tourist Company of Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more

UK shares: I’m thinking like Warren Buffett to play the new bull market

first_img Investors aren’t exactly champing at the bit to load up on UK shares, broadly speaking. The FTSE 100 has been on a gentle upward slope in recent months, but making significant gains has proved heavy weather. The emergence of Covid-19 variants in parts of the world, and growing fears over rampant inflation in particular, are putting a lid on market enthusiasm.Could all that be about to change though? Economic data so far in 2021 has, on the whole, been quite impressive. And this is prompting economic experts to steadily increase their growth estimates. I wouldn’t be surprised to see a new bull market for UK shares kick off before too long.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Growth forecasts riseThe World Bank was the latest body to ramp up its GDP estimates this week. It now expects the global economy to expand 5.4% in 2021, up sharply from the 4.1% rise it had forecasted at the beginning of the year.This would represent the fastest rate of growth for 80 years, the World Bank said. The body improved its estimates because of rapid vaccination rollouts in certain regions.However, the dial hasn’t changed much for many UK shares following the World Bank’s update. The organisation said that the recovery is likely to be “uneven” as emerging market countries lag the rebound that major economies, such as the US and China, will likely enjoy.Thinking like Warren Buffett and buying UK sharesThe fight against Covid-19 is far from won and there could be more twists and turns for the global economy. But that hasn’t stopped me from buying UK shares for the new bull market. In fact, I started buying just after the 2020 stock market crash in anticipation of the eventual recovery.This enabled me to pick up some top-quality stocks at rock-bottom prices. The sort of stocks with strong balance sheets and/or recession (or pandemic) proof operations. Those that’ll have the strength to survive a prolonged downturn in the global economy. And those which will likely soar in value as economic conditions pick up, profits improve and market confidence comes flooding back.My investing strategy involves buying stocks with a view to holding them for the long term, say a decade or more. This means I won’t be tearing my hair out if we have to wait a little longer for a strong economic recovery to take hold. I’m convinced that GDP growth will spike and that I’ll be positioned well to profit following my recent UK share buys.As investment guru Warren Buffett famously commented: “In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.”This should provide stock investors like me with a lot to be excited about. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Simply click below to discover how you can take advantage of this. Royston Wild | Saturday, 12th June, 2021 UK shares: I’m thinking like Warren Buffett to play the new bull market Enter Your Email Address Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment.center_img Image source: Getty Images Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. FREE REPORT: Why this £5 stock could be set to surge Our 6 ‘Best Buys Now’ Shares Get the full details on this £5 stock now – while your report is free. See all posts by Royston Wildlast_img read more

Review: Nadine’s Oh My is a homage to art-pop

first_imgTAGSmusic review ReddIt Welcome TCU Class of 2025 Facebook Oh My album cover (courtesy of father/daughter records) ReddIt Twitter Bernice Ogbondahhttps://www.tcu360.com/author/bernice-ogbondah/ World Oceans Day shines spotlight on marine plastic pollution Review: Fortress Fest was a success Twitter Linkedin printNadine’s full-length debut album, “Oh My,” is filled with minimalistic lyrics and soft, hazy sounds. The band, Nadine, consists of lead singer Nadia Hulett, Julian Fader and Carlos Hernandez (Ava Luna). The album emphasizes Hulett’s voice and free-spirited lyrics.Oh My album cover (courtesy of father/daughter records)Hulett’s unique songwriting is transformed into a playful form of pop poetry. “Oh My” shows the band’s willingness to delve into art-pop inspired and funky indie rock. The trio takes on a harmonic, chaotic rhythm throughout the album, setting the album’s tone from the first song, “Nook.”“Pew” was used to showcase Nadine’s distinct sound– a sound reminiscent of the boppy drum cadence featured in the Peter Bjorn and John song “Young Folks,” that’s so popular it’s in a Google commercial.Track eight, “Contigo,” is a clear album break, but after that, the album just kind of falls flat.Although it’s clear Nadine purposefully used very simple sounds and lyrics to elevate Hulett’s voice, it doesn’t do well for those who are first-time listeners trying to understand the band’s identity.At various points in the album, it sounds like Hernandez and Fader are on a completely different planet from Hulett. Nadine is comprised of members from two bands with different sounds, this could explain why Oh My doesn’t sound as unanimous or cohesive. Hulett, who is a member of Phantom Posse introduced some of the sleepy sounds heard in Phantom Posse’s album Be There to the collaborative project and Hernandez, and Fader brought Ava Luna’s signature up beat indie art funk. The trio also recorded the album in a couple different locations, which also may have influenced the albums sound. When recording the album in New York Hulett moved to Austin, Tx and the band recorded tracks for the album at Dripping Springs studio. All of this can be attributed to the albums unique and almost disorderly sound. Which is especially prevalent in “Little Self in the Garden.” Bernice Ogbondah Bernice Ogbondah is a junior journalism major from Fort Worth, Texas. When she’s not reporting you can find her curating playlists or furiously retweeting foreign affairs, political pundits and anything social justice. “Oh My” also has a lot of empty spaces, which the band tries to fill with spontaneous bursts of noise. This can be credited to Hernandez and Faders background in Art pop where random instrumental blasts are common.Verdict: 6/10Overall, for a debut album, Nadine did a decent job. There are very obvious bouts of creativity, but overall the album feels empty. If you want a minimalistic art-pop album to inspire and refresh, “Oh My” is right up your alley. Although the album was slightly underwhelming, it was still good. I give the debut a solid six points out of ten. Listen: Ball Don’t Lie: Clutch Factor + posts Bernice Ogbondahhttps://www.tcu360.com/author/bernice-ogbondah/ Second annual Fortress Fest comes to the Fort this weekend Bernice Ogbondahhttps://www.tcu360.com/author/bernice-ogbondah/ Facebook Bernice Ogbondahhttps://www.tcu360.com/author/bernice-ogbondah/ Previous articleTunnel of Oppression shows students scenes of sufferingNext articleNew sensation: Students play HQ Trivia Bernice Ogbondah RELATED ARTICLESMORE FROM AUTHOR Listen: Ball Don’t Lie: The Closer TCU places second in the National Student Advertising Competition, the highest in school history Linkedinlast_img read more

Voyager Announces Entry into Restructuring Support Agreement with Support of Equityholders and Unsecured Noteholders

first_img Facebook WhatsApp By Digital AIM Web Support – February 19, 2021 STAMFORD, Conn.–(BUSINESS WIRE)–Feb 19, 2021– Voyager Aviation Holdings, LLC (“ Voyager ” or the “ Company ”), a leading global aviation investment firm, announced today that it has entered into a restructuring support agreement (the “ Restructuring Support Agreement ”) documenting its previously announced agreement in principle with beneficial owners of approximately 60% of the Company’s 8.500% Senior Notes due 2021 (the “ Existing Unsecured Notes ” and, such beneficial owners, the “ Consenting Noteholders ”) and holders of 100% of the Company’s equity (the “ Existing Equityholders ” and, together with the Consenting Noteholders, the “ Consenting Stakeholders ”), formalizing the terms for a debt restructuring transaction (the “ Restructuring ”) that will strengthen the Company’s overall financial position and enable the Company to focus on growth. Voyager does not anticipate any change in its day-to-day operations or the services it provides to its customers throughout this process. “We are pleased with the continued collaboration with our consenting noteholders and equityholders and the execution of this agreement. Their support will help position Voyager for future success and we look forward to engaging with more of our financial stakeholders as we commence the exchange,” said Voyager’s President & Chief Executive Officer, Mike Lungariello. “We are confident that this proposed transaction, along with our new, established owners, sets up our business well for long-term financial stability as the industry recovers from COVID-19 and better positions us to capitalize on future growth opportunities.” Voyager has a diverse, global customer base consisting of prominent passenger and cargo airlines that include Air France, AirBridgeCargo, Cebu Pacific, Sichuan Airlines, Turkish Airlines, and Alitalia. As of September 30, 2020, the Company’s fleet had a weighted average remaining lease term of 6.6 years and there were no scheduled lease maturities until 2022. These existing airline partnerships and lease terms, modern fleet, and the execution of this transaction represent a strong financial base for Voyager as it looks towards future growth opportunities. Transaction Details: Voyager and the Consenting Stakeholders have agreed to support the Restructuring through an out-of-court exchange offer (the “ Exchange Offer ”), which is expected to launch and close during the first quarter of 2021, or, to the extent the Exchange Offer is not completed, through (i) an Irish scheme of arrangement (the “ Scheme ”) or, if desired, (ii) a prepackaged plan of reorganization (the “ Plan ” and, together with the Plan, the “ In-Court Restructuring ”), in each case subject to the terms and conditions set forth in the Restructuring Support Agreement. Under the Restructuring Support Agreement, the terms that the Company expects to offer to the holders of the Existing Unsecured Notes in the Exchange Offer and the In-Court Restructuring would be, in exchange for 100% of the outstanding Existing Unsecured Notes, including all accrued and unpaid interest thereon:100% of the pro forma common equity of the Company (“ New Equity ”), which will be subject to dilution by a post-restructuring management incentive plan;up to $150.0 million principal amount of new 8.500% Senior Secured Notes due 2026 to be issued by the Company (“ New Notes ”); andup to $200.0 million liquidation preference of preferred equity of an intermediate holding company subsidiary of the Company (the “ Preferred Units ” and, together with the New Equity and the New Notes, the “ New Securities ”). In addition, in connection with the Restructuring, the Existing Equityholders would receive a pro rata share of an additional $15.0 million in aggregate principal amount of New Notes to be issued by the Company on the date of the completion of the Restructuring. The Restructuring Support Agreement contemplates various conditions to the Exchange Offer, including, among other things, the negotiation of definitive documentation governing the New Securities and a minimum tender condition of at least 95% of the aggregate principal amount of the Existing Unsecured Notes in the Exchange Offer. To the extent the Exchange Offer is not successful, the Company is required under the terms of the Restructuring Support Agreement to seek approval from its board of managers to implement the In-Court Restructuring and, to the extent such approval is received, take all steps reasonably necessary to effectuate the In-Court Restructuring, which the Consenting Stakeholders have agreed to support subject to the terms and conditions of the Restructuring Support Agreement. Voyager is advised in this process by Milbank LLP, Moelis & Company LLC and FTI Consulting. The Consenting Noteholders under the Restructuring Support Agreement are advised by Clifford Chance US LLP. About Voyager: Voyager Aviation Holdings, LLC is a privately held aviation investment firm and leading commercial aircraft leasing company based in Ireland. Its assets of approximately $2 billion consist of primarily young and modern, wide and narrow-body aircraft. Disclaimer: The Restructuring remains subject to the finalization of, and entry into, definitive documentation between the Company and its stakeholders regarding the terms of the Restructuring. There can be no assurance that the Company and its stakeholders will reach final agreements regarding the terms of the Restructuring as described in this report, or at all. Any description of any terms of any transaction is for informational purposes only and does not constitute, either alone or together with any other materials, an offer or sale of securities in any jurisdiction. Any discussion of any terms of any potential transaction is only a summary of certain potential provisions thereof and is subject in its entirety to definitive documentation relating thereto. This report shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities, in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any securities proposed to be offered in the Restructuring have not been and will not be registered under the Securities Act of 1933, as amended (the “ Securities Act ”), or any state securities laws, and may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Forward-Looking Statements: Please note that any statements made in this report that relate to expectations, plans or objectives regarding future actions by the Company or any other parties are forward-looking statements and involve uncertainties that could cause actual performance or results to be materially different. Forward-looking statements are not guarantees of performance, and undue reliance should not be placed on these statements. The Company makes no representations or warranties as to the accuracy, completeness or updated status of any such forward looking statements. Therefore, in no case whatsoever shall the Company, its subsidiaries or its affiliates be liable to anyone for any decision made or action taken in conjunction with the information and/or statements herein or for any related damages. These forward-looking statements may include, among other things, statements related to the commencement of the Exchange Offer, any actions to be taken by any of the Consenting Stakeholders with respect to he Restructuring, or the implementation or completion of the Restructuring as described in this report.The forward-looking statements contained in this report speak only as of the date of this report, and the Company does not assume any obligation to publicly update or revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws. Without limiting the generality of the foregoing, any potential defaults, events of default, conditions that may give rise to the foregoing or other breaches under the agreements governing the Company’s or its subsidiaries’ indebtedness as described in this release may or may not occur, and the Company expressly retains all of its rights and privileges under such agreements, and nothing herein will be deemed to be a notice or admission (implicit or explicit) that a default, event of default, any condition that may give rise to the foregoing or other breach of such agreements shall have occurred or be continuing as of the date hereof or may occur at any time in the future. View source version on businesswire.com:https://www.businesswire.com/news/home/20210219005479/en/ CONTACT: Investors:Christian Ginez [email protected]:Susan Donofrio / Rachel Chesley [email protected] KEYWORD: CONNECTICUT UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES AIR TRANSPORT SOURCE: Voyager Aviation Holdings, LLC Copyright Business Wire 2021. PUB: 02/19/2021 03:44 PM/DISC: 02/19/2021 03:44 PM http://www.businesswire.com/news/home/20210219005479/en Facebook Pinterest Twitter WhatsAppcenter_img Local NewsBusiness Previous articleEverbridge annuncia di essersi aggiudicata cinque contratti relativi alle soluzioni Public Warning con società di trasmissioni wireless, governi e Stati finalizzati alla protezione delle persone e delle aziende in Europa e in AsiaNext articleWilliams career-high 32 sparks WSU to romp over Cal 82-51 Digital AIM Web Support Voyager Announces Entry into Restructuring Support Agreement with Support of Equityholders and Unsecured Noteholders TAGS  Pinterest Twitterlast_img read more

PERRYMAN: Economic forecast for Texas’ small and mid-sized metropolitan areas

first_img Pinterest PERRYMAN: Economic forecast for Texas’ small and mid-sized metropolitan areas Pinterest By Digital AIM Web Support – February 24, 2021 Twitter Facebook WhatsApp Ray Perryman is the head of The Perryman Group and serves as a distinguished professor at the International Institute for Advanced Studies. Communities across Texas are contributing to economic growth. Although the state’s largest metropolitan statistical areas (MSAs) are where the lion’s share of economic activity occurs, most of the smaller population centers are also performing well. For example, the Midland, Amarillo, Lubbock, and Odessa MSAs have been ranking among the lowest unemployment rates in the state. My latest forecast calls for notable growth in each of these important regional centers of business activity.For comparison, we are projecting overall Texas employment growth at a 2.02% annual rate through 2023. The seven largest metropolitan areas (Austin-Round Rock, Dallas-Plano-Irving, Fort Worth-Arlington, El Paso, Houston-The Woodlands-Sugar Land, McAllen-Edinburg-Mission, and San Antonio-New Braunfels) are expected to gain almost 1.1 million net new jobs through the next five years. That’s about 79% of the total. Five of the seven are likely to exceed the statewide pace, though Fort Worth-Arlington and El Paso lag the state rate slightly.Even so, small and mid-sized metropolitan areas are important centers for the energy sector, higher education, health care, agriculture, and a variety of other industries. The state’s 19 other MSAs are likely to account for almost 15% of total job gains in Texas through 2023, with the remaining 6% or so added in rural areas.The Midland and Odessa MSAs are projected to experience particularly strong employment growth rates during the next five years, primarily as a result of the globally significant increases in oil and gas production and the corresponding effects on many channels of business activity. The Tyler (2.08%) and Brownsville-Harlingen (2.07%) MSAs are also expected to see job growth which outpaces the state.Other MSAs are likely to see economic expansion through the forecast horizon ranging from 1.70% to 1.96% per annum. Near the upper end of the range are Laredo (1.96%), Sherman-Denison (1.92%), and Lubbock (1.90%). More moderate employment gains are projected in Corpus Christi (1.88%), College Station-Bryan (1.86%), Abilene (1.84%), Texarkana (1.82%), Waco (1.82%), Amarillo (1.80%), Longview (1.80%), and Victoria (1.80%). Expected rates of employment growth in San Angelo (1.76%), Wichita Falls (1.74%), Killeen-Temple (1.71%), and Beaumont-Port Arthur (1.70%) metropolitan areas are slightly lower.Even in the smallest of the MSAs, thousands of jobs are likely to be added over the next few years. In some areas, such as the Permian Basin, employment growth is occurring at rates that are among the most rapid in the country. Over time, Texas will continue to see economic activity concentrated in the largest cities. However, there are also opportunities for those who live (or wish to live) in places with a slower pace, less traffic, and a wealth of other amenities available in our diverse state.center_img TAGS  Local News Facebook Twitter WhatsApp Previous articleDay in the Park with DadNext articleInvite the Outdoors In Digital AIM Web Supportlast_img read more

Fannie Mae CAS Deals Receive NAIC Designations

first_img Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: CAS Fannie Mae Fannie Mae CAS Deals Receive NAIC Designations January 8, 2020 2,712 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, News, Secondary Market About Author: Seth Welborn  Print This Postcenter_img Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Fannie Mae CAS Deals Receive NAIC Designations CAS Fannie Mae 2020-01-08 Seth Welborn Fannie Mae has announced that all Connecticut Avenue Securities (CAS) deals issued as direct debt have received designations for the 2019 filing year from the National Association of Insurance Commissioners (NAIC). Four M-2 bonds were upgraded to an NAIC 1 designation and two M-2 bonds were upgraded to an NAIC 2 designation.The CAS bonds which received upgraded NAIC Designations in the 2019 filing year are listed here. CAS REMIC transactions are issued out of a bankruptcy remote trust, rather than as direct debt of Fannie Mae.Fannie Mae issued the first REMIC structure for Connecticut Avenue Securities in November 2018. Renee Schultz, SVP of Capital Markets at Fannie Mae, stated that it “was an important transaction for a number of different reasons.””One, for us, it helped align the accounting treatment, the recognition of the loss and the benefit. Also, it opened up the investor base. “Fannie Mae announced in November 2019 that it has priced a $998 million Connecticut Avenue Securities note offering. The offering, CAS Series 2019-R07, is designed to share credit risk on its single-family conventional guaranty book of business.”“We are pleased to successfully bring our seventh CAS REMIC transaction to market this year,” said Laurel Davis, VP of Credit Risk Transfer, Fannie Mae. “Subject to market conditions, we plan to return to market in late November with a new series of CAS notes referencing loans originated under Fannie Mae’s Refi Plus and HARP initiative, as part of ongoing capital management efforts. This will be our final transaction of the year.”The reference pool for CAS Series 2019-R07 consists of approximately 102,000 single-family mortgage loans with an outstanding UPB of approximately $26.6 billion. The majority of these loans were acquired from April through June 2019, and are fixed-rate, generally 30-year term, fully amortizing mortgages.Potential buyers can register for ongoing announcements or training, and find more information on Fannie Mae’s sales of Community Impact Pools of non-performing loans and on the Federal Housing Finance Agency’s guidelines for these sales, on the company’s Whole Loans Sales’ page. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Presidential Candidate Elizabeth Warren Proposes Bankruptcy Plan Next: The Trouble With the QM Patch The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Subscribelast_img read more

Council outlines timetable for Milford works

first_img Previous articleMandatory life terms handed to Liam Devlin’s killersNext articleFarmers should withdraw cattle from processors News Highland Pinterest RELATED ARTICLESMORE FROM AUTHOR Dail hears questions over design, funding and operation of Mica redress scheme Twitter Google+ HSE warns of ‘widespread cancellations’ of appointments next week Google+ Donegal County Council has confirmed that a contractor has been appointed to carry out improvement works in Milford, with the works set to be finished by mid-summer. A new road will be built parallel to the Main Street, allowing for the development of a one way system. The commitment was given today during a meeting with a number of local business people.One of them, Pharmacist Mark Mc Cormick, says while the works may cause some short term inconvenience, they will reap important benefits in the long term.He says the work will begin in mid-February, with completion by mid-july. PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal By News Highland – December 18, 2009 Newscenter_img WhatsApp Pinterest Dail to vote later on extending emergency Covid powers Facebook Man arrested in Derry on suspicion of drugs and criminal property offences released Twitter WhatsApp Council outlines timetable for Milford works Facebook Man arrested on suspicion of drugs and criminal property offences in Derrylast_img read more