Danger ahead! 2 FTSE 100 stocks I wouldn’t touch with a bargepole

first_img See all posts by Royston Wild Danger ahead! 2 FTSE 100 stocks I wouldn’t touch with a bargepole 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. Another day, another shocking set of data on the state of the UK economy. On Friday the Office for National Statistics announced that domestic GDP collapsed 20.4% in April, the biggest monthly drop ever. Ultra-cyclical stocks like FTSE 100-quoted Barclays (LSE: BARC) are likely to have suffered another ‘mare, then.Unless a second wave of Covid-19 infections hits later this year, Britain is likely over the worst of it. That’s not to say that Barclays and the other Foostie banks like Lloyds and RBS are out of the woods. Indeed, the boffins over at ING reckon that the economy will tank 9% in 2020, the bank noting that “social distancing constraints, consumer and business caution, as well as Brexit, all pose challenges to the UK economic recovery”.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…Trouble on all sidesYou don’t need to just consider the possibility of a prolonged and painful global recession, however. The consequent prospect of ultra-loose, profits-crushing monetary policy from the Bank of England creates another problem that investors need to worry about. The fact that Threadneedle Street is now openly contemplating negative interest rates underlines the seriousness of the issue.Established banks like Barclays also face the growing threat posed by the challenger banks. Research from digital banking tech provider Crealogix shows that around 14% of Britons now bank with one of these new kids on the block. And staggeringly, around a quarter of citizens under the age of 37 do business with one of the challengers.Barclays’s shocking share price performance shows that it’s been on the rack long before Covid-19 broke out. It’s fallen 55% in value during the past five years and there’s no reason to expect it to bounce back. I wouldn’t tough this battered FTSE 100 stock with a bargepole.Another FTSE 100 trap?Pearson (LSE: PSON) is another Footsie share where the long-term risks are too great. The educational materials provider has leapt 12% on Friday after it emerged that Cevian Capital holds a chunky 5.4% stake in the business. It has raised hopes that a much-needed shakeup of the company is in the offing. The departure of chief executive John Fallon could certainly make it easier for the activist investor to have its way.But will the move change Pearson’s fortunes considerably? It still has to overcome the immense challenges created by falling enrolment in the US college system and growing demand for low-cost teaching aids.Indeed, this is a problem that could worsen significantly over the medium term following the coronavirus crisis and the subsequent economic downturn. A recent study from the Institute of International Education suggests that 90% of colleges expect enrolment by non-US students for the 2020–21 academic year to drop on an annual basis. Expect meaty drops among US students, too.Like Barclays, Pearson’s share price has plummeted by more than half during the past five years. And there’s plenty of reason to expect it to keep on sinking. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Barclays, Lloyds Banking Group, and Pearson. 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. Royston Wild | Friday, 12th June, 2020 | More on: BARC PSON Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Sharescenter_img Image source: Getty Images. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” Simply click below to discover how you can take advantage of this. 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.last_img read more

British American Tobacco looks to expand into cannabis. Is BATS a good investment?

first_imgSimply click below to discover how you can take advantage of this. British American Tobacco looks to expand into cannabis. Is BATS a good investment? I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. See all posts by Kirsteen Mackay 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. “This Stock Could Be Like Buying Amazon in 1997” Kirsteen 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. In the wake of two new cannabis stocks listing on the London Stock Exchange this week (Kanabo and MGC Pharmaceuticals), 119-year-old British American Tobacco (LSE:BATS) is considering its options in the space.British American Tobacco’s foray into CBDThe FTSE 100 stalwart has been struggling in recent years as tobacco falls out of favour. Nowadays, it still sells big brand cigarettes such as Lucky Strike and Rothmans, but it’s also been repositioning into smoking alternatives such as vaping. Given its growing popularity, cannabis seems like the next logical step.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…Speaking to CNBC, BATS Chief Marketing Officer Kingsley Wheaton said: “last year we signalled that we would look at consumer spaces beyond nicotine and indeed CBD would be one of those…it’s an exciting growth area for our business for the future”.CBD or cannabidiol, is a cannabis ingredient derived from hemp. While consumer demand is rocketing, the regulatory landscape remains pretty strict. And this becomes particularly complex between countries and regions.British American Tobacco has begun a CBD pilot program in Manchester. Its VUSE CBD Zone is a CBD vaping product. It currently comes in three flavours and two strengths.Is British American Tobacco profitable?BATS has a price-to-earnings ratio of 9, earnings per share are £2.10, and it’s one of the best dividend payers on the FTSE 100 at 8%. However, the dividend cover is only at 1 times, so it wouldn’t take much for a cut to be considered. Particularly as the company has £40bn of net debt. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Image source: Getty Images Enter Your Email Address Kirsteen Mackay | Thursday, 18th February, 2021 | More on: BATS 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. Nevertheless, the pandemic hasn’t been as hard on BAT’s bottom line as we might have expected. It’s been growing its revenues, profits, and earnings despite the difficult backdrop. The company is now speeding up the transformation of its business. This includes becoming more tech-savvy. It’s made a significant shift into e-commerce and year-on-year its online revenues are up 200%, with subscribers now at 20,000.The Covid-19 travel restrictions did thwart sales of its duty-free cigarettes, but a surge in demand for its vaping kits has made up for this.In its full-year preliminary results posted on Wednesday, BATS reported close to a 9% rise in profits. Its VUSE and VYPE vaping kit sales climbed 52%. And its online vape sales rose 40% as 17,500 people signed up to become regular subscribers.These are positive signs of a transition in progress, but British American Tobacco still faces many challenges. Diversifying its product pipelineStaying relevant and financial fund friendly in an environmental, social, and corporate governance (ESG) environment is a hurdle tobacco firms are facing. Many investors in exchange-traded funds (ETF) now demand ESG-friendly portfolios devoid of tobacco and other sin stocks. British American Tobacco is clearly aware of this and is on a mission to reduce the harm of its business.It has been cost cutting and re-evaluating to focus on building a portfolio and brands of the future. One possible entrant is its CBD products, but it also has other ideas for diversification in the pipeline.The company is often considered a recession-proof stock because it sells products that people will buy no matter how the economy looks. But the British American Tobacco share price fell on news of the results, despite beating analysts’ expectations.I think this looks a good dividend stock for a long-term portfolio, but I’m reluctant to own it because of the damage cigarettes do.last_img read more

Big Debate: Should the Premiership keep the salary cap?

first_imgFollowing today’s press release from Saracens, we dug this out of our archives. First published in the September 2013 edition of Rugby World, it’s still prevalent today… WITH ENGLISH clubs failing to oust their French counterparts in the European Cup in recent years and several high-profile names jetting off to the millionaires’ playground of the Top 14, some fans are asking why Aviva Premiership clubs are no longer expected to compete with the French.One answer being proffered is that English sides are impeded by the salary cap. In place since 1999, the cap ensures that no Premiership club can spend in excess of a salary limit, agreed upon by a majority of the Premiership Rugby board, the 12 representatives of the Premiership sides.Here, Exeter CEO Tony Rowe and former Bath coach Steve Meehan, who’s also worked for Western Force, debate whether English clubs should keep the cap. Read their views and then cast your vote…No: Steve Meehan AT THE time Bath were bought by Bruce Craig (2010), I remember thinking it could immediately bear fruit. I thought money could put Bath on an even footing with the big guns – but we couldn’t take advantage.It’s not just about your starting 15 but your second 15. The traditional big guys can lose 15 internationals. He has been vocal since he has left but when Martin Castrogiovanni was at Leicester they had Dan Cole as well and that is not bad as an example. There are some pretty clever guys looking at the regulations.I never felt restricted but at Bath we understood and played by the rules. You look at team depth. I cannot really complain as I tried to maximise the quality of the squad, but it was no secret that when Butch James got injured for us – and this is not an insult to the guys who came in and did their best – we found it tough. You cannot have two fly-halves like that. You cannot chase your tails, and if we had two fly-halves like that we would lose out elsewhere.I also had meetings with Premiership Rugby about player welfare. There is a lot of rugby and at the moment there seems to be a lot of retirements coming out. Is this the tip of the iceberg? Maybe they can track it back to the salary cap.Driving force: Bath would benefit from the Premiership getting rid of the capI’ve spoken about it on various occasions: when fans questioned the players’ efforts I’d say to them, ‘Would you care to look in the changing room?’ The boys looked like they’d been in a car accident. Then you see what they have to do at the end of a long season and it’s no surprise that players look at the riches of France or guys from here in Australia or New Zealand look at Japan.There are some concessions for academy guys but those run out after a few years. There is an interesting debate in Australian rugby league about concessions for long-serving players at a club. A percentage of their wages could be taken out of the salary cap. To do that you need a good club culture that players stay for, but it could be a way of creating greater stability without needing to add 12 players to your programme a year.I can see why some owners and CEOs would be offended by the cap and be concerned that they aren’t trusted to be responsible. It’s give and take. Here in Australia we have a cap, but the ARU offer top-ups for certain players’ wages.The Western Force are also getting concessions now to bring in more foreign development players. New ARU CEO Bill Pulver is proactive and wants competitive teams becausethere is Australian Rules, league and soccer in a small market.In Europe, the European Cup cannot rely on the northern hemisphere’s magnificent tradition to get bums on seats and compete with soccer. Tony Rowe – YesIF THERE was a debate at board level today I would fight for it. We at Exeter Chiefs aren’t naïve enough to think that all clubs stick to the word of the law on the cap, but we would rather have something that keeps things in check than nothing at all.We aren’t as rich as some clubs and we’ve had to manage our budget to be successful on the pitch as well as making a profit. That would be more difficult without the cap.In the Aviva Premiership all of the teams can beat each other. Some of the results last year prove that and it is fantastic, because the competition is not totally one-sided. That is what punters go for. There is enjoyment and everyone shows some of the more traditional clubs the greatest respect. You wouldn’t find fans so respectful if they were regularly beaten by the chequebook.Some can pull out the chequebook once a year and if there was open season only two or three would spend well over the current cap. It is sort of self-policing but, like everything else in life, some can see their way around it. If you’ve seen the regulations they’re a hefty bit of paperwork. As long as there is someone willing to write regulations, there are also those willing to sit and study them.Business view: Rowe has made sure Exeter is financially secureThe problem is that the documents are difficult to enforce to the letter and the penny. If I wanted to bend the rules and had someone in my legal team who came to me and said they had the answer I would probably consider it.All the shareholders at clubs meet up (to vote on the cap) but sometimes it can feel like turkeys voting for Christmas. I would support the rules being enforced more and that would be passed down to the board of directors, who are the turkeys.We need to move on in other ways. Worcester Warriors and ourselves didn’t just appear. We had planned for a long time, working on building the commercial sides of the clubs. London Welsh were never afforded that. The rules are ringfenced in favour of the Championship clubs but you have to be able to perform within the cap.Three years ago we were given less than £1m centrally (from the RFU) while others got £3m. We planned to make up the deficit for when we joined the Premiership, so that the gulf between us and the other clubs was one we could afford.The challenge should change so that first division or Championship clubs that aspire to make the Premiership don’t suffer. It comes down to money, or the lack of it. The RFU have been very reluctant to spend money on grass-roots or amateur rugby in the past and they get the bulk of their money from pro rugby.Now, the Aviva Premiership is very professionally run and the teams have made great efforts to provide a brilliant match-day experience for fans – and rightfully so. However, that is what others are looking up into. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS TAGS: Highlight Fanfare: Would these fans enjoy the Premiership so much if there was no cap? Cast your vote below… Should the Premiership keep the salary cap? (Poll Closed) Yes  82.14%      No  17.86%      Comments (0) Create Your Own Poll   Should the Premiership keep the salary cap?last_img read more

Coronavirus: RSF denounces China’s censorship on academic publications

first_img Receive email alerts Help by sharing this information China: Political commentator sentenced to eight months in prison China’s Cyber ​​Censorship Figures Earlier this month, the Chinese Ministry of Science and Technology notified at least two universities that coronavirus research must obtain their approval prior to publishing, a measure that is unusual even for Chinese censorship.”Reporters Without Borders (RSF) calls on Beijing to rescind this measure as it could further inhibit the flow of scientific information coming out of China and undermine the international effort against the pandemic”, says Cédric Alviani, the head of RSF’s East Asia bureau, who notes that “by trying to hide scientific information on the coronavirus from the international community, Beijing shows a monstrous egotism far removed from the image of responsibility and solidarity that it tried to project since the beginning of the crisis.”Chinese authorities are doing everything they can to impose their narrative on the coronavirus, blocking the circulation of information in China,  denigrating foreign media outlets that criticize Beijing’s handling of the coronavirus outbreak, and spreading false information.China is ranked 177th out of 180 countries in RSF’s 2020 World Press Freedom Index. RSF_en Reporters Without Borders (RSF) denounces China’s recent censorship on some coronavirus publications, a move that may deprive the international community of essential information to fight the pandemic. June 2, 2021 Find out more April 29, 2020 Coronavirus: RSF denounces China’s censorship on academic publications Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes to go further March 12, 2021 Find out morecenter_img ChinaAsia – Pacific Condemning abuses Covid19United Nations News Organisation News News PHOTO: CARL DE SOUZA / AFP Follow the news on China News ChinaAsia – Pacific Condemning abuses Covid19United Nations April 27, 2021 Find out morelast_img read more

Two journalists injured in clashes on eve of elections

first_imgNews ThailandAsia – Pacific June 12, 2020 Find out more Thai premier, UN rapporteurs asked to prevent journalists being returned to Myanmar ThailandAsia – Pacific May 12, 2021 Find out more Follow the news on Thailand Two journalists, a Thai and an American, were injured while covering clashes between government supporters and opponents in the Bangkok suburb of Laksi on the eve of yesterday’s general elections.“We deplore the fact that journalists were the victims of violence in connection with their work and we reiterate the appeal we made at the start of these protests to demonstrators on both sides not to target reporters and other media personnel,” said Lucie Morillon, the head of the Reporters Without Borders research desk.“Journalists must be in a position to gather and provide information to the public, a job that is all the more complicated amid such tension. We condemn the decision by government opponents to wear armbands of the same colour as those used by journalists. This can create confusion with grave consequences.”Clashes broke out in Laksi on 1 February after opposition supporters blocked off a building that was to be used as a polling station in yesterday’s election. Six people were injured, including US photographer James Nachtwey and Jirawan Soukanan (Jack), a 30-year-old Thai journalist working for the Bangkok-based Daily News.Nachtwey sustained a relatively minor flesh wound in the leg from a bullet but Soukaran was hurt more seriously in the face and shoulder, probably by flying glass from a Molotov cocktail.In the past months of clashes between government opponents and supporters, journalists have often been targeted after being identified with one camp or another. In December, Channel 9 presenter Penphan Leamluang was roughed up and sprayed with water by demonstrations after she allegedly underestimated the size of their demonstration.In January, a Molotov cocktail was thrown into the yard of the home Teemah “Judd” Kanjanapairin, a presenter for the opposition TV station Bluesky, causing no injuries.The satellite TV station TNN24 withdrew its reporters from the headquarters of the opposition PDRC party on 29 January after its leader, Suthep Thaugsuban, publicly accused the station of “working for a long time for the Thaksin government.” This charge came one day after TNN24 broadcast a report about a scuffle between police and government opponents.Thailand is ranked 135th out of 179 countries in the 2013 Reporters Without Borders press freedom index. RSF_en Covid-19 emergency laws spell disaster for press freedom Organisation center_img to go further Red alert for green journalism – 10 environmental reporters killed in five years Receive email alerts News News August 21, 2020 Find out more Help by sharing this information February 4, 2014 – Updated on January 20, 2016 Two journalists injured in clashes on eve of elections Newslast_img read more

[Vijay Mallya-UBHL] About Rs 3,600 Crore Recovered, Rs 11,000 Crore Still Due, SC Told; Dismisses UBHL’s Appeal Against Winding Up

first_imgTop Stories[Vijay Mallya-UBHL] About Rs 3,600 Crore Recovered, Rs 11,000 Crore Still Due, SC Told; Dismisses UBHL’s Appeal Against Winding Up Mehal Jain26 Oct 2020 4:24 AMShare This – xThe Supreme Court on Monday dismissed United Breweries Holdings Ltd.’s appeal against the Karnataka High Court’s decision as regards its winding up for recovery of dues payable to Kingfisher airlines.”We are here against the order of winding up of UBHL, which was a corporate guarantor of Kingfisher. Vijay Mallya was also a corporate guarantor and he has been proceeded against. It was alleged…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court on Monday dismissed United Breweries Holdings Ltd.’s appeal against the Karnataka High Court’s decision as regards its winding up for recovery of dues payable to Kingfisher airlines.”We are here against the order of winding up of UBHL, which was a corporate guarantor of Kingfisher. Vijay Mallya was also a corporate guarantor and he has been proceeded against. It was alleged that we were unable to pay back the debt to the bank and a petition was filed (before the High Court), and both the Single and the Division benches said it may be wound up. But we have been able to demonstrate that as against the debt of Rs. 6303 crores, as adjudicated by the DRT with interest, assets of over Rs. 14,500 crores are available. There is more than ample for all creditors. This is not a case for winding up. It was the defence of even the banks that all these assets have been attached by the ED”, began Senior Advocate C. S. Vaidyanathan for the UBHL.”Winding up is the last resort. It should not be readily accepted that the company is to be wound up. That is why we are giving so much time to you”, observed Justice U. U. Lalit.”The fixed assets can be classified into 3 categories- UBHL, Vijay Mallya as the individual guarantor, and other entities who have all filed affidavits submitting their assets for disbursing the loans…these are mostly in the form of shares of United Breweries Ltd. (UBL)…these attachments are at the instance of the banks for the money they had loaned to the tune of Rs. 900 crores, which was wrongfully diverted…However, all these assets had been acquired before Kingfisher had even availed of the loan. The attachments orders are under appeal both by us and the banks, which are pending. Before the PMLA court, the ED had filed an application saying that per the PMLA Act, it is for the court to decide if the attachment should continue”, he continued.”The fixed assets are not even valued at current value…there is a record of the number of shares sold by them. The amounts are also available…The HC should have taken into consideration all these facts. Instead, it said that these are matters which cannot be gone into”, argued Mr. Vaidyanathan.”What is the valuation according to them of the ill-gotten wealth? Or the Proceeds of Crime, as they are called?”, asked Justice U. U. Lalit.”But some assets are from 1902! We are talking of loans of 2009!”, contended Mr. Vaidyanathan.Justice Lalit indicated to the attachment orders and the contents of the CBI FIR- “significant proportion of loan sanctioned by the IDBI was transferred to ICICI, Axis Bank and the Bank of Baroda and from there to other Kingfisher accounts, even outside the country. This was never used for the purpose it was sanctioned by IDBI Bank”The judge also appreciated the prima facie material available against the petitioner, as elaborated in the attachment orders.”The appeal against these orders is pending! The loan was of 900 crores. What they claimed had been diverted comes to about 200-300 crores. What is attached is more than 14,500 crores! Also, the assets which have been attached were acquired long before 2009!”, pressed Mr. Vaidyanathan.Justice Lalit expressed a desire to peruse the appeal memos of the banks to appreciate their submissions.”They prayed for the release of the movable and immovable properties in favour of the banks. They submitted that the properties were already encumbered in their favour and that the attachment orders were passed without hearing the banks. They sought that the provisional attachment order be set aside”, replied Mr. Vaidyanathan.”What is the present status of the appeal?”, asked Justice Lalit.”They are pending…the crime alleged is diversion of loans. There is no other crime! Ultimately, that amount also has to go to the banks only! It is the banks which have to recover the money! Even the ED, in its counter-affidavit before the PMLA court, said that it leaves it to the best judgment of the court to grant the prayer to restore the properties to the banks!”, advanced Mr. Vaidyanthan.”What is the extent of the Proceeds of Crime?”, questioned Justice Lalit.”It is shown in the provisional attachment order itself! Out of the total amount sanctioned by the IDBI, the major amount was remitted outside of India. It was said to be employed towards payments of aircrafts, servicing, spare parts. There was huge variation in these payments, particularly leasing payments, in view of the type of aircraft etc…the PMLA investigation concluded that there is reason to believe that the loan sanctioned by the IDBI is not backed by marketable commodities. Accordingly, the order was passed for provisional attachment on grounds of involvement in money laundering”, responded Mr. Vaidyanathan.”What is the predicate of offences, schedule of offences against you?”, asked Justice Lalit.”Diversion of funds”, replied the senior counsel.”So some public servant has to be involved under the Prevention of Corruption Act? The Schedule to the PMLA Act mentions POCA as one of the offences. There is no specific allegation that effect?”, asked Justice Lalit.Senior Advocate Amit Desai responded to this- “There is a charge under the POCA. Officials of IDBI have been named in the chargesheet. Section 13, POCA and sections 120B, 420 and 409 of the IPC have been applied””What is the status of the trial? The charges have been framed?”, Justice Lalit wanted to know.”No. It is pending. Because of Vijay Mallya’s extradition…”, replied Mr. Desai.”Because of the extradition, everything has been put on the back-burner”, observed Justice Lalit.”They can go on. But everything has come to a stand-still because of this situation”, responded Mr. Desai.”Has the chargesheet been filed? What is the extent of the Proceeds of Crime?’, asked Justice Lalit.”900 crores, which is the amount of the loan disbursed by the IDBI”, said Mr. Desai.”So only IDBI officials have been named? No other officials?”, questioned Justice Lalit.”No. In the first FIR, only IDBI officials have been named. The second FIR pertains to the provisional order of attachment, but no chargesheet has been filed in that”, said Mr. Desai.When Justice Ravindra Bhat inquired about the amount in said order. Senior Advocate Mukul Rohatgi, appearing for SBI, said it was Rs. 4234 crores.”What is the extent of the loans?”, asked Justice Bhat.”SBI has a decree worth 15000 crores”, replied Mr. Rohatgi.”15000 crores? Against UBHL? How do you compute this?”, asked Justice Vineet Saran.”Yes! 15000 crores due today! So it is a bogus argument that they have the money!”, argued Mr. Rohatgi.”Is the decree final?”, asked Justice Lalit.Yes. The DRT passed it in January, 2017″, said Mr. Rohatgi.”How will it be executed?”, inquired Justice Lalit.”We have been able to recover 3595 crores. 11000 crores are remaining”, argued Mr. Rohatgi.When Justice Lalit asked if this sum of Rs. 3595 crores was a part of the attachment order, he was told that it was beyond the attachment order. “Is this why the banks are saying the assets should be freed?”, pressed the judge. “Yes! We have a prior charge. The ED has no stake. Even if it releases the assets, we will get only 4000 crores”, contended Mr. Rohatgi.”You are part of the creditors whose dues have been taken care of. You were noted when the final statement of liabilities was drawn up. Now the company is being wound up. So when you proceed against the assets, your dues will diminish”, observed Justice Lalit.”Yes, but only to the extent of 4000 crores! Other parties, other creditors are also waiting for the winding up! They are also due 200-300 crores! One associate company of UBHL is due some money. They went to the HC to say they support the winding up! This is the state of affairs! They don’t want to sell their own assets for UBHL! They went to the ED to protest!”, submitted Mr. Rohatgi.”There is 1000s of crores worth of gap! No bonafide offer has been made in the past so many years”, he urged.”But there must be some material to say these are Proceeds of Crime? Someone has to point out which assets are free and the others which are not free?”, noted Justice Lalit.”But the winding up court also has to see whether there is any chance of payment, any desire for payment, and any funds for payment”, said Mr. Rohatgi.”Are these dues on record?”, asked Justice Lalit.”Yes. As of 2012 and 2013, the gross grant total, for the IDBI and 13 other banks along with other creditors, is 6958 crores. If you add the interest on this, it will be 12-14000 crores”, said Mr. Rohatgi.”But once you approach a tribunal or a court, you will not be governed by your contractual terms”, noted Justice Lalit.”These are not contractual terms. I have a decree for 11.5 % yearly interest”, said Mr. Rohatgi.”Their accumulated losses are more than 50% of the net worth. And this was in 2012, we are now in 2020. Their entire substratum is gone! All business concerns are closed! Everything has gone down the drain! Even if the assets are released in my favour, what will they fetch?”, he argued.”The appeal is totally devoid of merits. It is founded on the allegations of a ‘X’ director who is saying that so much is due. He has no idea. He is just making allegations as to facts and figures…Vijay Mallya is facing contempt before Your Lordships and is refusing to show up! There is a known connection between Manmohan Kapur (one of the directors of the Kingfisher board) and Vijay Mallya? Where has he got all these facts? These are being tweaked by that gentleman sitting abroad! Vijay Mallya has sold a major share to Diageo, which is a foreign spirits giant”, he continued.Finding no reason to interfere, the bench dismissed the petition. Next Storylast_img read more

Gardaí treating death of woman in Sligo as murder

first_img Pinterest Google+ By News Highland – May 2, 2018 Facebook Google+ Pinterest Twitter Homepage BannerNews Twitter The mother of three had been missing from her home at Crozon Park in Sligo since early on Sunday morning – with family members raising serious concerns for her welfare.Natalia’s body was discovered in the Holywell area yesterday morning and was formally identified following a postmortem last night.Gardaí are not releasing the details of how she died for operational reasons.A 32-year-old man who was arrested in connection with the investigation remains in custody at Ballymote Garda Station. Harps come back to win in Waterford Gardaí treating death of woman in Sligo as murder RELATED ARTICLESMORE FROM AUTHOR Facebook DL Debate – 24/05/21 Gardaí are now treating the death of a woman in Sligo as murder.The body of Natalia Karaczyn was discovered on the outskirts of the town yesterday morning. News, Sport and Obituaries on Monday May 24th WhatsApp WhatsApp Important message for people attending LUH’s INR clinic Arranmore progress and potential flagged as population grows Previous articleUK Government facing another potential defeat over BrexitNext articleMinister reassures of his commitment to Mica solution News Highland Loganair’s new Derry – Liverpool air service takes off from CODAlast_img read more

Deliveries bring warm meals, smiles

first_imgLatest Stories By The Penny Hoarder Deliveries bring warm meals, smiles Plans underway for historic Pike County celebration Book Nook to reopen Troy falls to No. 13 Clemson Skip Around the WebMd: Do This Immediately if You Have Acid Reflux (Watch Now)Healthy LifestyleIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthTop 4 Methods to Get Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Pike County Sheriff’s Office offering community child ID kits Cornelius Griffin provides the turkeys and hams, and Robert Boyd of the Tarentum community, supplies the homegrown turnips, collards and sweet potatoes. The ladies at Lily White Church of the Living God and Jerusalem Temple prepare the food and help serve. Members of the Brundidge Rotary Club and other volunteers assist with the delivery of the plates.And, Martha Griffin is right in the middle of it all. She does all of the washing of the greens and that’s a monumental task for anyone and a lot of the from-scratch cooking.“I’ve been cooking all week,” she said, with a smile. “But I love doing this. So many people benefit from it. Every year, it seems like we are able to reach more people. The first year, I think we served about 300 people. This year, we’re fixing about 351 carryout plates and then we have people that come here to eat. We’ll probably feed close to 500 people. Maybe more.”Griffin estimated that between 3,500 and 4,000 Thanksgiving meals have been served since that first Thanksgiving. And after each community Thanksgiving dinner, Griffin goes home to start preparing Thanksgiving dinner for her own family.But before she can get the oven warm, the phone call comes from her son.“Cornelius always calls to see how things went,” Griffin said. “This is something that he enjoys. It’s his Thanksgiving.”And, “her” family Thanksgiving is yet to be done.“I’ll have about 30 for Thanksgiving dinner and it’s a blessing for all of us to be together.” she said.“As much of a joy as it is for my family to be together, I think that I get even more joy from the community Thanksgiving dinner because so many of those people would not have had a Thanksgiving meal. That brings me special joy at this time of year.” By Jaine Treadwell Cora Johnson’s face lit up like a Christmas tree.Her eyes sparkled and a smile spread across her face at the sight of visitors at her door.“We’ve brought you Thanksgiving dinner,” Brundidge Police Chief Moses Davenport said. Johnson opened the door wide and welcomed her guests.“This is so wonderful,” she said. “Just so wonderful.”Davenport and the Rev. Willie Moultry spent a few minutes with Johnson before speeding off to deliver more Thanksgiving dinners to shut-ins and the elderly. She had lots to say and hugs all around. Published 10:00 pm Wednesday, November 26, 2008 Email the author Remember America’s heroes on Memorial Day The Penny Hoarder Issues “Urgent” Alert: 6 Companies… You Might Like Community gathers, gives thanks for blessings The Rev. Herbert Reynolds challenged the congregation at the annual Community Thanksgiving service in Brundidge Tuesday night to develop an… read more Sponsored Content Print Article “This means so much to those who aren’t able to get out a lot,” Moultry said. “It’s the fellowship of visitors as much as it is the food. Just to know that there’s somebody that cares can make someone’s day. When you show love, faces do light up like Christmas trees.”Davenport and Moultry were among the many volunteers who gathered at Brundidge Station on Wednesday to serve and deliver the annual community Thanksgiving dinner furnished “with love” by Cornelius Griffin, a Brundidge son who plays professional football with the Washington Redskins. Griffin was a prep star at Pike County High School and a standout at the University of Alabama. But with all of his success, Griffin has never forgotten about the place he calls home.In 2001, Griffin wanted to give something back to the community that nurtured him as a youngster and supports and encourages him now.“Cornelius wanted to do something to show his appreciation,” said his mother Martha Griffin. “One day, he called me and said he wanted to provide Thanksgiving dinner for the elderly people of our community and the sick and shut-ins. With the help of many others, we are able to do it.”last_img read more

Lack of support will add to strain

first_img Workplace stress is set to worsen over the next 20 years due to a lack of control over work and a lack of social support, according to a report on future lifestyle.Richard Worsley, co-author of The Tomorrow Project report, said, “Most people can cope with the peaks and pressures of the demands. What they find much harder is being responsible for results which they don’t control.”The former group personnel director of BT and British Aerospace said staff found it difficult to cope with the absence of social support at work – having no one to turn to for praise or advice.“Organisations which ignore this will pay the price in stress symptoms such as absenteeism, low morale and conflict”The three-year research is supported by 22 companieswww.foresight.gov.uk Lack of support will add to strainOn 30 May 2000 in Personnel Today Previous Article Next Article Comments are closed. Related posts:No related photos.last_img

Telomere length measurement by qPCR in birds is affected by storage method of blood samples

first_imgGiven the potential role of telomeres as biomarkers of individual health and ageing, there is an increasing interest in studying telomere dynamics in a wider range of taxa in the fields of ecology and evolutionary biology. Measuring telomere length across the lifespan in wild animal systems is essential for testing these hypotheses, and may be aided by archived blood samples collected as part of longitudinal field studies. However, sample collection, storage, and DNA extraction methods may influence telomere length measurement, and it may, therefore, be difficult to balance consistency in sampling protocol with making the most of available samples. We used two complementary approaches to examine the impacts of sample storage method on measurements of relative telomere length (RTL) by qPCR, particularly focusing on FTA (Flinders Technology Associates) cards as a long-term storage solution. We used blood samples from wandering albatrosses collected over 14 years and stored in three different ways (n = 179), and also blood samples from captive zebra finches (n = 30) that were each stored using three different methods. Sample storage method influenced RTL in both studies, and samples on FTA cards had significantly shorter RTL measurements. There was no significant correlation between RTL measured in zebra finch blood on FTA cards and the same samples stored either as frozen whole blood or as extracted DNA. These results highlight the importance of consistency of sampling protocol, particularly in the context of long-term field studies, and suggest that FTA cards should not be used as a long-term storage solution to measure RTL without validation.last_img read more