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Swiss franc crisis: Banks try to calm scared shareholders

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online GameUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive Supplement More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Swiss franc crisis: Banks try to calm scared shareholders Swiss financial institutions and firms that trade with them yesterday tried to reassure investors who had been walloped by the soaring franc last week, after the central bank removed the currency’s peg with the euro.The Swiss National Bank shocked markets last Thursday when it stopped holding the franc at €1.20.Giant bank Credit Suisse said it is sensitive to swings in the currency, but added that the final impact on its profits will depend on future moves in the franc.Its shares edged up 1.74 per cent yesterday, as cautious investors dip their toes back in a stock that crashed 22 per cent last week.Private bank EFG International yesterday said that if even if the strong franc does not weaken, its profits will not be hit by more than 10 per cent.Its shares plunged by 25 per cent on the franc’s rise, but did recover a touch yesterday, rising 5.7 per cent on the bank’s assurances that its capital levels will not be hit.But other firms received a tougher hearing from shareholders.Shares in spreadbetting and forex trading site FXCM crashed by almost 90 per cent when they re-opened for trading in New York.The stock had been closed after the firm made huge losses on the currency swing. It was bailed out to the tune of $300m (£198m) by parent firm Leucadia, but investors were not satisfied with the rescue.Meanwhile IG Group confirmed it made a £30m loss on the volatility. Tuesday 20 January 2015 9:05 pm Show Comments ▼center_img whatsapp Express KCS Share whatsapp Tags: Swiss currency crisislast_img read more

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Comment / LATAM Airlines struggles as synergies disappoint – is it now a takeover target?

first_imgBy Alessandro Pasetti 15/06/2015 When Chile’s flag carrier, LAN, acquired Brazil’s TAM in 2012, hopes were running high for the combined entity, LATAM Airlines Group. Now, though, at a first glance, LATAM is not too different from cash-strapped Air France-KLM, at least financially – “indeed, the two would make for a great fit,” an M&A banker in London argued this week.“But hey, if they strike a deal, then you’d probably need a carrier from the US or the Middle East to sneak in at some point and fix the mess by 2020,” he also suggested.A tie-up with the French and the Dutch governments “would lead to the creation of a new carrier whose name will eventually disappear from the traders’ screens soon after being acquired by its most likely suitor, American Airlines,” a second source in New York told me on Monday.“Such talk is way premature, but LATAM management is under a huge amount of pressure to deliver,” he added. “Its valuation is not far off all-time lows, so any scenario is possible.”Background & financialsLAN and TAM have not been lucky.In 2012, both companies predicted “pre-tax synergies of approximately $170m to $200m for the first 12 months after combination, gradually increasing to annual pre-tax synergies of between $600m and $700m four years after the completion of the combination”.“Approximately 60% of the total estimated potential synergies will derive from revenue increases in the passenger and cargo businesses and, therefore, the cost savings are expected to generate the remaining 40%.”Both carriers, with the help of McKinsey and Bain & Company, revised-up estimates for synergies only a few months before the deal was wrapped up, but the merger hasn’t lived up to expectations so far.LATAM needs solutions, and quickly, both for its passenger and cargo units. But where can a solution be found?The “capital risk management” section of LATAM’s annual results should give investors a clue.“In order to maintain or adjust the capital structure, the company may adjust the amount of the dividends payable to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt,” the group said.Here’s how its key financial metrics look, and why action is needed.While adjusted net debt keeps rising, LATAM’s 2014 gross cash pile was $1bn lower than a year earlier.Its core gross profit, as gauged by revenue minus cost of goods sold, was down by about $400m in 2014, which forces LATAM to trim operating costs further. But as revenues fall (-6.4%), administrative costs and distribution costs have already fallen at a faster pace (-6.6% and -13.4%, respectively) year-on-year.Even if LATAM is successful in managing its cost base, the problem is that its annual interest costs are in the region of $430m. They are down 8.5% year-on-year, but are only $100m lower than its core operating income, which stood at $541m in 2014, down from $585m one year earlier. Meanwhile, operating cash flow is flat year-on-year.Operationally, LATAM Airlines could find a solution, but it’s hard to see how it can sort out its finances, however, without the injection of fresh equity.Net leverage and liquidity ratios provide little reassurance, especially when combined with the threat of corporate action and closer scrutiny from credit rating agencies, which rank it junk – although its coveted credit rating is investment grade. Its cost of debt is in the high-yield territory, of course: the issuance of new mid-term debt is doable but its cost hovers around 8%.All this should be enough to get a feeling of the daunting task that management faces.No synergies = cash call or takeover?In March 2013, less than a year after the deal had closed, The Financial Times reported that LATAM’s international operations in the fourth quarter were hit by international carriers boosting capacity to Latin America, especially from the US, and weak markets in Europe.Back then, synergies were already well below the stated targets, and trends have not played a helping hand since.A cash call of between $1bn and $2bn would fix the balance sheet, but would command a steep discount to its current market value of $4.31bn, which equates to one-third of the implied equity value of the combined entity when the deal was struck.LATAM finds itself in a difficult position, but it may forgo the issuance of new equity capital if a takeover either from the US (its third largest revenues contributor) or from Etihad – to name the most likely buyer from the Middle East – materialises.While a bullish take on its financials could suggest that net economic losses are bottoming out (-$109m vs -$281m in 2013, excluding income from minorities), most of the improvement in 2014 came from lower foreign exchange losses (-$130m vs -$482m).Its first-quarter results showed that LATAM’s performance could disappoint once again this year.At the end of 2014, the group said that it successfully implemented a plan to reduce its short-term debt from about $840m at the end of 2013 to about $327m in December 2014, which takes some pressure off working capital management, but doesn’t change the complexity of the situation, which is critical indeed. Goodwill impairment is another risk worth talking into account.LATAM Airlines and its cargo armAs is the case with many of its rivals, “LATAM’s cargo business strategy aims to optimise the use of the bellies of its passenger aircraft and, as a result, implies a gradual reduction in its freighter fleet”, although this remains the largest air cargo operator in Latin America and in Brazil, in particular.Trends are not encouraging, but the outlook could be brighter here.“In 2014, LATAM, at a consolidated level, transported 1.1m tons of cargo, down by 3% compared with 2013, while its capacity measured in ATK dropped by 5.6%. As a result, the load factor rose by 1.4 percentage points, reaching 59.8%,” it said.The ATK reduction was “explained by structural changes in the itinerary of passenger planes” used to transport cargo and “by discipline in the cargo fleet in the face of aggressive global and regional competition”, LATAM noted.“This was a result of excess capacity on both passenger and cargo flights in the region.”But its plans to reduce its freighter fleet, combined with a “constant quest for efficiency in its operating costs and support areas, and the development and improvement of the processes, systems and infrastructure of its cargo business,” which is set to continue, could perhaps render its maindeck cargo unit an appealing IPO or divestment candidate, it could be argued – proceeds of which could be used to shore up the balance sheet, right?That’s just wishful thinking at present time.LATAM did not respond to The Loadstar‘s requests for comment.last_img read more

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Premium / Market Insight: Searching for value in Maersk’s 4PL Syngenta contract

first_img Premium subscriber LOGIN Remember the 4PL push advertised by AP Møller-Mærsk (APMM) and agrochemicals behemoth Syngenta at the end of last week?Whether or not it was an attempt by APMM to fight its reptilian brain, I don’t know. Forget about it – or just think again would be my advice to you.Here is the background story that senior sources willingly shared with me over the weekend. It all started here from our previous coverage that received strong traction on Friday:“Maersk this week took another … << Go back Subscription required for Premium stories In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium New Premium subscriber REGISTER Please Login Email* Reset Your Password Forgotten your password? Please click here Reset LOGIN Please either REGISTER or login below to continue Password* Email* By Alessandro Pasetti 03/12/2019last_img read more

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Drug makers are racing to develop immune therapies for Covid-19. Will they be ready in time?

first_img Adobe How blood plasma from recovered patients could help treat the new coronavirus Tags biotechnologyCoronavirusdrug developmentinfectious disease In the 1995 movie “Outbreak,” doctors whip up a serum from monkey blood in just days to cure people of the fictional Motaba virus. In the more recent “Maze Runner” series, the teenaged protagonists find a cure for a zombifying virus in the blood of a companion who was immune.Blood-plasma-based cures aren’t just the stuff of movies. There’s plenty of science to back the idea that blood products from survivors of viral diseases — containing antibodies primed against the virus — can jump-start an immune response in new patients. Most recently, the state-owned China National Biotec Group said it had successfully treated Covid-19 coronavirus patients with plasma from survivors.“It has been something that has been tried in every type of outbreak that I can remember,” said Amesh Adalja, an emergency medicine specialist and senior scholar at the Johns Hopkins Center for Health Security.advertisement “Perhaps we all have grown up with movies and books and whatnot that have given us the impression that we can find solutions to these kinds of things very rapidly, but in the real world it does take some time,” said Eddie Sullivan, president, CEO, and co-founder of SAB Biotherapeutics, a company that produces therapeutic antibodies in genetically engineered cattle.During the 2014-2016 Ebola epidemic in West Africa, a drug called ZMapp, based on a cocktail of antibodies against Ebola virus, was rushed into patients and looked promising enough to encourage the field, though the outbreak ended before the treatment was proven effective. Then last year, monoclonal antibodies made by Regeneron Pharmaceuticals and the National Institute for Allergy and Infectious Diseases may have helped control the outbreak in the Democratic Republic of the Congo, about doubling survival in Ebola patients in a landmark clinical trial.“The success that we had with Ebola monoclonal antibodies has people thinking this is the quickest way we can get a countermeasure for Covid-19,” said Adelja.Now two companies say they hope to have treatments for Covid-19 ready in record time.Japan-based Takeda Pharmaceutical says its unit devoted to plasma-derived therapies could have a product ready for quick approval to fight the coronavirus. New York-based biotech Regeneron has said it can be ready to test hundreds of potential antibodies in Covid-19 patients by early summer. The company’s shares soared on the news even as the stock market as a whole tanked on pandemic fears. Maggie Fox @maggiemfox By Maggie Fox March 19, 2020 Reprints Plus, the antibody products are difficult to ship, requiring special storage and refrigeration.“They are not pills and are not orally bioavailable,” said Zeitlin. They must be infused. Companies are working to develop injections or even dermal patches to deliver monoclonal antibodies, but that work is years away from bearing fruit.Patients can have infusion reactions, and must be monitored. That means using hospital beds and having trained staff on hand at a time when hospitals, emergency rooms, and critical care units will be overwhelmed with coronavirus patients.And there is some troubling evidence that antibody therapies could be counterproductive. “Sometimes antibodies can enhance infection,” Zeitlin said. It’s a well-known effect with dengue virus, and an international study published in February showed that an antibody targeted to neutralize MERS, another coronavirus, actually helped it infect cells.The Covid-19 virus appears to cause much worse disease in the elderly, and people with underlying conditions. While older cancer patients have fared relatively well when given cancer immunotherapies, it’s not known whether stimulating the immune system will work as well against an infectious disease in older people. “The population that would be receiving any of these treatments is not the same population that will have been receiving them in Phase 1 trials,” said Dye.New treatments are generally tested in younger, healthier people, and the people likely to receive the treatments in real life would have underlying conditions such as kidney disease, diabetes, and high blood pressure. It’s not clear how their bodies might respond to an antibody treatment.SAB’s Sullivan, who hopes to start testing a Covid-19 product soon, said regulatory shortcuts are helping to speed up what is usually a linear, step-by-step process.“There is a tremendous effort going on across all of the stakeholders that are involved in developing, testing, and clinical trials to try and be as efficient as possible,” Sullivan said. “Even with that, it will take some time.”There’s no doubt that efforts to produce vaccines and drugs for Covid-19 are speeding along in record time, said Dye. But that will not translate into instant miracles.“We are still in very early stages of understanding,” he said. “When people talk about [accelerated] timelines, it becomes very concerning to me, because science doesn’t always work on a timeline.” Regeneron says potential Covid-19 drugs could start human tests by early summer Related: BiotechDrug makers are racing to develop immune therapies for Covid-19. Will they be ready in time? Government labs are also working to develop monoclonal and polyclonal antibodies against Covid-19 disease. Biogen and Vir Biotechnology have teamed up to make their own versions, while antibody specialist AbCellera has won support from Eli Lilly to generate candidate antibodies from the blood of one of the first U.S. survivors of Covid-19.They’ve worked “amazingly fast,” said Larry Zeitlin, one of the co-founders of ZMapp maker Mapp Biopharmaceutical.Such announcements have given hope to a public frightened by the prospect of a pandemic that will almost certainly sicken millions and that has forced the closure of schools, businesses, and restaurants.But they may also be giving a misleading appearance that a quick cure is just around the corner.Zeitlin knows what it feels like to have such hopes dashed, after having watched the West African Ebola epidemic fade out before ZMapp could be properly tested, and then seeing the product completely dropped after it did not appear to help patients during the DRC epidemic.The federal government has supported the development of antibody-based treatments through the Defense Advanced Research Projects Agency (DARPA) and NIAID, but they are still at early stages, said Zeitlin. “If we had another couple of years of some of these programs, I think we’d be better suited to benefit coronavirus patients,” he said.In addition, what worked against Ebola isn’t necessarily going to be applicable to Covid-19. It takes time, said John Dye, chief of viral immunology at the U.S. Army Medical Research Institute of Infectious Diseases, to isolate the antibodies that are expected to best respond to the pathogen, then generate enough of them in a plant or animal to test them in people.Generating enough to treat patients is even harder, said Zeitlin, even with speedier new platforms.  “They are not going to be able to make enough antibody for a million patients,” he predicted. That means the treatments will be reserved for only the sickest of patients.“It would be for those individuals who are most likely on a ventilator in a hospital, hooked up to an IV line to receive these treatments,” said Dye.Antibody treatments are far more expensive than pills, although it’s too early to say what any of the potential treatments for Covid-19 would cost. As the coronavirus spreads, a drug that once raised the world’s hopes is given a second shot It takes time to engineer and purify these antibodies — and past epidemics have often waned before the drugs were ready. They also present myriad logistical hurdles: They have to be kept cold, for instance, and must be infused into patients rather than swallowed. And they’re expensive.advertisement About the Author Reprints Related: Related: But while the approach can work in a pinch, it has never been a long-term fix. In confronting the Covid-19 pandemic, drug makers instead are racing to produce high-tech derivatives in the form of monoclonal or polyclonal antibodies engineered to home in on pieces of the coronavirus. Scientists view them as likely to be both safer and more targeted, but they have yet to provide a Hollywood ending to any outbreak.last_img read more

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Discount broker offering RDSPs

first_img Facebook LinkedIn Twitter Anyone who qualifies for the disability tax credit (DTC) is eligible for an RDSP. The overall lifetime contribution limit is $200,000 per beneficiary and contributions can be made until the end of the year in which the beneficiary turns 59. Parents and other contributors may want to open an account in the name of a beneficiary with a disability. In addition to providing tax-deferred growth until payments are made from the plan, an RDSP also gives eligible individuals access to the Canada Disability Savings Grant and Canada Disability Savings Bond. Investors can choose from a wide range of investment products offered by NBDB for registered accounts. Contributors will not be charged additional costs for RDSPs and the plans will be subject to the NBDB’s preferential annual administration fees which are calculated based on all the accounts held by the client. NBDB is a wholly owned subsidiary of National Bank of Canada (TSX:NA). IE Staff Related news Share this article and your comments with peers on social media Keywords Discount brokerages,  RDSPs center_img National Bank Direct Brokerage (NBDB) now offers clients the possibility of contributing to a Registered Disability Savings Plan (RDSP). Launched in 2008 by the federal government in, the plan helps people with severe and prolonged disabilities achieve greater financial security over the long term. Mackenzie lowers pricing on several ETFs and mutual funds Investors Group expands RDSP investment options Make ban on DSC mutual funds retroactive to consultation launch: IAPlast_img read more

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Libya Independence Day

first_imgLibya Independence Day On behalf of the Government of the United States and the American People, I extend best wishes for a joyous Independence Day to Prime Minister Fayez al-Sarraj and to the Libyan people.This year has been an important one for Libya with the announcement of a nationwide ceasefire on October 23 and progress on a Libyan-owned and Libyan-led political process, facilitated by the United Nations. Of particular importance is the decision to hold national elections on Independence Day in 2021. In the year ahead, we will support Libyans in building on these successes, including through full implementation of the ceasefire agreement and maintaining the remarkable momentum of the political process. The United States is focused on promoting a peaceful, prosperous, and unified Libya with an inclusive government that can both secure the country and meet the economic and humanitarian needs of its people.The United States wishes all Libyans a very happy Independence Day. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:agreement, america, american, building, Department of State, election, Government, Humanitarian, Libya, meet, Minister, Prime Minister, UN, United Nations, United Stateslast_img read more

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Upholding values of UN Charter is key to effective responses to global challenges

first_imgUpholding values of UN Charter is key to effective responses to global challenges Mr President, State Councillor, good to see you and thank you for convening this important debate today.And also my thanks to President Bozkir for sharing your thoughts and, indeed, aspirations.The United Nations remains the cornerstone, rightly so, of the international system.As we look at the UN’s history, it has mitigated dozens of conflicts. It’s saved hundreds of thousands of lives through humanitarian action. It’s promoted and protected human rights and freedoms, and safeguarded the principle of sovereign equality and the right to self-determination of peoples.Seventy-five years on, our world faces new and complex challenges.International peace and security is challenged by threats that do not recognise borders: climate change, pandemics, famine, organised crime, and terrorism, to list a few.This calls for a response that crosses borders, just the same.We must remain true to the universal founding principles of the United Nations and, indeed, the Security Council. The core values of the Charter – peace and security, development, and human rights – are equally important and interdependent.To ensure the future we all desire, the future we all want, we must be guided by them, and we must defend them.With these principles in mind, we must also acknowledge that the United Nations needs to adapt and reform in order to respond.Existing and new global threats and challenges, including climate change, global health, weapons of mass destruction, technology and artificial intelligence are really testing coherence within the UN system.Therefore, to provide a truly effective response, these areas of our expertise must be fully joined up with humanitarian, development and human rights efforts right across the system.The Secretary-General’s Sustaining Peace agenda lays the foundation for an integrated, coherent UN system that works better together to address the drivers of conflict and build lasting and sustainable peace.Reform is at the centre of the Secretary-General’s agenda for the United Nations, and we should all be working to support its implementation.Reform, as I’m sure we all agree, is not a one-time action, but rather a permanent attitude that needs to prevail.We must all support the UN to become more efficient and more productive while it continues to increase transparency.The UN Human Rights system also has a key and pivotal role to play. Human rights are the heart of the UN Charter, and we must support them as strongly as peace, security, and development. We know that states which respect human rights, territorial integrity, and their obligations to their own people are more prosperous and more resilient.In an international order that is sometimes fragmented, and characterized by intensifying competition over interests, norms and values, the United Kingdom will continue to place the promotion and protection of human rights at the top of our international priorities.The transnational challenges I mentioned threaten all of our prosperity and resilience, and need a coordinated approach.UN peacekeeping exemplifies this. Since the first mission in 1948, you will know that the Security Council has now mandated over 70 peacekeeping operations in more than 50 locations across the globe.Alongside the many other contributing Member States, the United Kingdom is proud to play an active role, most recently in deploying 300 troops to the UN mission in Mali.Even more broadly, as COP26 President this November, the United Kingdom will aim to boost international cooperation and global climate finance for the benefit of us all.We have already pledged over $15 billion of international climate finance over the next five years, and we will spend a significant proportion of that building resilience in the most vulnerable countries.Lastly, I would like to touch on the important issue of sanctions. We have been proud to introduce our independent sanctions measures. The UK’s measures advance our national security and foreign policy priorities. They hold accountable those responsible for a range of activities, including human rights violations and abuses, and, indeed, corruption. They are legally robust and carefully targeted in scope to minimise any wider impact.Where we have been unable to agree in the Security Council, the UK has pursued sanctions against the likes of the Syrian regime, the Myanmar junta, perpetrators of sexual violence in Libya, or those working to support DPRK’s nuclear programme.We have worked in concert with others, together, to stand up as a force for good in the world.As many other colleagues have already reflected, we are still in the midst of a pandemic. COVID-19 affects us all. It continues to require an inclusive, global response.And as you said, Mr President, at the current time, we all come together to stand in solidarity and friendship with India. But, as we have often heard over this past year, it is important to exemplify the key point that none of us is safe until we are all safe.Therefore, upholding the values of the United Nations Charter is the key to our effective, united, collaborative response to the quite extraordinary challenges our nations share.And finally, for all our peace and security, Mr President, we must absolutely work together, collaboratively and inclusively, in a strong, functioning, multilateral UN system.Thank you, Mr President. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:artificial intelligence, climate change, global health, Government, Human Rights, India, Libya, Mali, Myanmar, Secretary-General, Security Council, Syria, UK, UK Government, UN, United Kingdom, United Nationslast_img read more

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Afternoon Brief, February 23

first_imgAdvertisement Subscribe to the Afternoon Brief Pinterest Share Trending Story:Is Napa Running Out of Land for Vineyards?When Xavier Cervantes was scouting properties in Napa, he looked in all the usual hallowed ground for vineyards: Oakville, Rutherford, Pritchard Hill…Today’s News:Cal/OSHA Proposes More Than $100k in Penalties for Fatality at Napa Valley WineryCal/OSHA has proposed penalties of more than $100,000 on two businesses allegedly responsible for the death of a Vallejo man who was killed in a fall at Sutter Home Winery in St. Helena last year…The Financial Realities Behind High-End Wine PricingWines at the most expensive and prestigious end of the spectrum continue their growth in popularity. And prices, which have been climbing for years, show no signs of slowing down…Music Adds Even More Taste to America’s WineriesEvents that not only pair their reds and whites with great food, but with a special blend of music curated to keep their visitors coming back for more…Boisset: Wine Is Only the BeginningNapa County Report Looks for Flaws in the Planned Watershed and Oak InitiativeWhat’s Next for Oregon Wine?Oregon Economic Impact Up 72%Wine Sellers Warned of Robust ScamPaso Robles Clears Space for Downtown Tasting RoomsB.C. Wine Industry Celebrates End of Alberta BanAmerica’s Love Affair with Madeira WineBurgundy Drives Global Demand for Fine WineTen Myths About the Chinese Wine MarketWhy We Should Support Premiere Napa ValleyWineIndustry.Jobs:Lead Bottling Line OperatorRack & Riddle Custom Wine Services – Healdsburg, CA, United StatesQA/QC ManagerSonoma Beverage Works – Healdsburg, CA, United StatesTechnical Account Manager – Wine & Fermented BeveragesChr. Hansen, Inc. – California, USAMore Wine Industry Jobs…Feature Your Job Listing in the Afternoon BriefIndustry Events:Spirited International Spirits Trade Tasting & ShowFebruary 27, 2018 – Santa Rosa, CA, United StatesVinexpo New YorkMarch 5-6, 2018 – New York, NY, United States2017 Sonoma Vintage ReportMarch 7, 2018 – Santa Rosa, CA, United StatesWhat Cannabis Means for the Wine IndustryMarch 15, 2018 – WebinarMore Wine Industry Events…Top Stories of the Week:Dan Berger: Red Wines Lean Heavily on Oak for Top-Scoring FlavorsThe Unique and the Truly Rare Wines at Premiere Napa ValleyStay or Go? Dilemma of Winery Founders in Mergers and AcquisitionsTop 10 Biodiverse Wineries in the US, 2017Sonoma County Grape Growers Battle Frost After Early Bud BreakCalifornia’s Renegade Winemakers Are Pouring Weird, Wonderful WinesBMI and Wine Institute Partner on New Music Licensing Discount ProgramBalance Trumps Terroir for Winemakers6 Ways to Get Customers out of Their Comfort ZoneMillennials Are Dragging Down Beer Sales – but Gen Z Marks a ‘Turning Point’ That Will Cause an Even Bigger Problem for the IndustryOregon’s ‘Rocking’ Wine Industry Advised to Avoid ComplacencyCork Remains King but Now Shares the Market with Four Alternative Bottle Closures1,000 Top Wine Industry Professionals to Gather for 22nd Annual Premiere Napa ValleyHow You Can Spot Fake WinesUnderstanding the Science Behind Ancient Wine TAGSCanadaChinaJean-Charles BoissetMi Sueño WineryNapaOregonPaso RoblesPremiere Napa ValleyWatershed & Oak Woodland Protection Initiative Subscribe to the Afternoon BriefAdvertisement Linkedincenter_img Facebook Home Afternoon Brief Afternoon Brief, February 23Afternoon BriefAfternoon Brief, February 23By Editor – February 23, 2018 70 0 Twitter Email ReddIt Previous articleMusic Adds Even More Taste to America’s WineriesNext articleFree Flow Wines Announces National Draft Equipment Leasing Program for Wine-On-Tap Editorlast_img read more

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Kingston’s Mayor Urges Shoppers to Support Registered Vendors

first_imgMayor of Kingston, Senator Councillor Dr. Angela Brown Burke, is calling on shoppers to support law-abiding vendors this Christmas season.She said the Kingston and St. Andrew Corporation (KSAC) has put a lot of effort into ensuring individuals are able to register and that they have spaces within the various markets and arcades to facilitate vending activities.“We are promoting those individuals, who have registered. We really want to ask Jamaicans, Kingstonians, to join us, because I think we really have to take a stand in terms of law and order,” she said.Dr. Brown Burke was responding to questions at a briefing following a monthly council meeting at the KSAC offices in downtown Kingston on Tuesday (December 8).She said Jamaicans should look for the vendor’s identification card indicating that they are registered with the KSAC.“Everybody who is legally supposed to be selling has an ID. We want to ask persons to join us in making sure that individuals, who really are playing by the rules, have a chance this Christmas to make a decent profit,” she noted.“Join us in supporting the legal vendors, in supporting those who have been playing by the rules, those who are in our markets and our arcades,” she added. FacebookTwitterWhatsAppEmail RelatedWork Commences On Riverton City Access Road Story HighlightsMayor of Kingston, Senator Councillor Dr. Angela Brown Burke, is calling on shoppers to support law-abiding vendors this Christmas season.She said the Kingston and St. Andrew Corporation (KSAC) has put a lot of effort into ensuring individuals are able to register and that they have spaces within the various markets and arcades to facilitate vending activities.Dr. Brown Burke was responding to questions at a briefing following a monthly council meeting at the KSAC offices in downtown Kingston on Tuesday (December 8). RelatedThree New Fire Stations To Be Constructedcenter_img Kingston’s Mayor Urges Shoppers to Support Registered Vendors Local GovernmentDecember 9, 2015Written by: Denise Dennis RelatedKSAC Honours 78 Outstanding Councillors, Staff and Citizens Advertisementslast_img read more

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Powerful storm pelts California and brings risk of flooding

first_imgHomeNewsPowerful storm pelts California and brings risk of flooding Feb. 17, 2017 at 7:35 amNewsPowerful storm pelts California and brings risk of floodingeditor4 years agodroughtfloodrainstormweatherAssociated Press LOS ANGELES (AP) — A powerful storm hit California with the first in a new series of rainstorms moving across the northern half of the state while the south awaited a rains that forecasters said could be the strongest in years if not decades.Rain, accompanied by heavy winds, pelted the San Francisco Bay Area, where Marin and Napa counties logged up to an inch of precipitation. San Francisco recorded 1.67 inches for the day, according to the National Weather Service. In Northern California, officials monitoring the stricken Oroville Dam said they were confident the reservoir would handle runoff from the storms because releases have been lowering the lake’s level since its spillways were damaged last week, prompting mass evacuations. People are now back in their home but warned to be ready to leave at a moment’s notice.Precipitation also moved down the Central Coast counties, but forecasters said it was only a light precursor to a dangerous atmospheric river taking aim at Southern California.The plume of moisture stretching far out over the Pacific was expected to arrive early Friday and last through the day and into Saturday.Flood warnings for the period were in effect for rivers and creeks up and down the state. High wind warnings were issued for mountains and valleys, which could see gusts to 70 mph.“The storm looks to be the strongest storm to hit southwest California this season,” the National Weather Service office for the Los Angeles region wrote. “It is likely the strongest within the last six years and possibly even as far back as December 2004 or January 1995.”Rainfall predictions ranged from 2 inches to 6 inches on the coast and from 5 inches to 10 inches in foothills and coastal mountain slopes.Jerry Rootlieb piled sandbags in front of the white wooden gate at his waterfront house in Seal Beach, saying it may not be enough to keep water from inside his house.“I’m hoping it doesn’t get that bad, but if we get 3 inches or more, it’ll be higher than those sandbags,” Rootlieb told KTTV-TV. “I’m concerned.”With soil already saturated from significant rains this winter, forecasters warned of potential for flash floods and debris flows, especially near areas left barren by wildfires.The city of Duarte, in the foothills of the San Gabriel Mountains east of Los Angeles, ordered evacuation of 180 homes below a burn scar by 7 a.m. Friday.Powerful winds capable of downing trees and powerlines were also expected, along with heavy snow in Southern California’s mountains.Cal Poly, the state university in San Luis Obispo, was keeping an eye on an unstable hillside near a dormitory housing 275 students. A protective barrier was set up and some trees have been removed but students were being told to be ready to evacuate.Santa Anita Park near Pasadena canceled all its horse races for Friday, and golfers at the PGA tour’s annual stop at Riviera Country Club were unlikely to get more than a few holes in amid the storm.Pasadena cancelled Saturday’s annual Black History Month parade, citing public safety concerns including possible lightning strikes.In Northern California, officials monitoring the stricken Oroville Dam on the Feather River said Thursday they were confident the its reservoir would handle runoff from the storms because ongoing releases have been lowering the lake’s level since its spillways were damaged last week.The Sacramento weather office said models were trending stronger for a system arriving Sunday night and Monday in the northern part of the state due to a tap of deep moisture over the Eastern Pacific that could bring 24 to 30 hours of moderate to heavy precipitation.Rainfall predictions in that region’s foothills and mountains ranged from 3 inches to 10 inches.“Needless to say, impacts from the increased runoff, wind and heavy snow will be considerable,” the weather service said.Tags :droughtfloodrainstormweathershare on Facebookshare on Twitteradd a commentSanta Monica’s Got Talent (Senior Style)City Manager puts a price on marketing: $350,000You Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall11 hours agoNewsCouncil picks new City ManagerBrennon Dixson22 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter22 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor22 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press22 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press22 hours agolast_img read more

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