Quilter to make hundreds more redundant in bid to slash costs since listing

first_imgFriday 18 June 2021 11:08 am Quilter is poised to make some 400 more people redundant as the UK exits the Covid-19 pandemic, having already laid off hundreds of staff in an effort to bring its costs into line since it listed on the London Stock Exchange. A Quilter spokesperson said: “We have spoken for some time about our focus to deliver an improvement in Quilter’s operational performance and ensure the business is lean, agile and well set for the future. Quilter has also sold off some of those businesses since the listing, including its international business and part of its fund management business. Quilter is set to carry out hundreds more redundancies. Also Read: Quilter offloads international business to Utmost for £483m Show Comments ▼ Prior to the listing, the business, then known as Old Mutual Wealth, was effectively five businesses cobbled together; a financial advice network then known as Intrinsic, discretionary fund management business Quilter Cheviot, Quilter International, which serviced wealthy ex-pats, fund manager Old Mutual Global Investors, and the platform. Sources have estimated that around 400 more will be made redundant in the future – some 10 per cent of its workforce – after the company spent more than half a billion pounds on transforming its platform; a piece of technology used by financial advisers to buy funds and other investments for their clients. Share The redundancies have been ongoing since the business listed on the LSE via IPO in June 2018. Exclusive: Quilter to make hundreds more redundant in bid to slash costs since LSE listing Also Read: Quilter reports dip in profits and warns Lighthouse redress bill could hit £36m whatsapp Also Read: Quilter’s revamped investment platform helps deliver jump in total assets Tags: Quilter Also Read: Wealth management firm Quilter suffers profit slump center_img Also Read: Quilter’s platform migration faces delay due to coronavirus uncertainty At least 200 people working in areas as varied as financial advice and HR have been made redundant by the FTSE 250 wealth management company, City A.M. understands. “We have worked closely with our people to prepare them for the future, being open and transparent about a reduction in roles following our platform transformation and have put in place a support programme that focussed on retraining and taking control of change and wellbeing.” “Our platform transformation was a critical programme to help the business become simpler and more streamlined. As more processes are now completed online, we have made a reduction in headcount in back office roles.  It then paused its redundancy process during the pandemic, but is understood to have re-started now vaccines have been rolled out more widely and life has returned to some semblance of normality.  As a result, roles at the wealth manager, which rebranded to Quilter when it listed in London, were duplicated across the company.  Now, “under the analysts’ eye” as one source put it, the business is pressing on with its cost-cutting measures. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org The FTSE firm knew it needed to make cuts prior to listing on the stock exchange as its cost base was too high and its duplicated roles were unnecessary, however, the business is understood to have been keen to get on with the IPO, and so never got around to slimming down before it went public. The redundancies have been ongoing since the listing, and in 2019 Quilter launched its ‘Hello Tomorrow’ programme, based down in Southampton that aimed to re-deploy those who would be made redundant to other parts of the business, or to help them in find work elsewhere.  Those working on the platform side of the business are understood to be particularly at risk of future redundancies, as the technology changes made to the platform automate many of the roles previously carried out by people. Sources said part of the rationale behind Quilter’s redundancy was to get rid of the duplicated roles, known as an ‘optimisation programme’ in-house. whatsapp The spokesperson added that it had enjoyed “strong new business flows” following the platform upgrade, and that its service centre is recruiting so “advisers continue to receive the high standards of service they expect from us.” Hannah Godfrey Sources close to the company told City A.M. the redundancies have so far taken place in waves, making it difficult to know exactly how many people have been let go.last_img read more

How to Celebrate Lunar New Year in Los Angeles

first_imgThings to DoHow to Celebrate Lunar New Year in Los AngelesWelcome the Year of the Rat with these festivitiesBy Brittany Martin – January 21, 20203482ShareEmailFacebookTwitterPinterestReddItLunar New Year arrives on January 25, 2020, ushering in the Year of the Rat (specifically, the Metal Rat). In many cultures around the world, Lunar New Year is celebrated as the biggest holiday of the year, and in L.A. there are plenty of opportunities to mark the occasion, from street festivals to special dining and more.Midnight Temple Ceremony at Thien Hau TempleThousands of people gather at Thien Hau Temple in Chinatown to celebrate when the clock strikes midnight. Traditions include lion dancers, incense burning, the making of offerings to deities, and the launching of 500,000 firecrackers. January 24 at 10 p.m., Thien Hau Temple, 756 Yale St., Chinatown.121st Annual Golden Dragon Parade and Chinese New Year FestivalChinatown’s official Chinese New year festival has been going on since 1899, making it the oldest celebration of its kind in the United States. The parade starts at the intersection of Hill and Ord Streets; vendors, entertainment stages, a “culinary corner,” and other festivities will take place throughout the neighborhood from noon to 8 p.m. February 1, Chinatown Central Plaza, 943-951 N. Broadway, Chinatown.https://www.instagram.com/p/B6zgG8xHsEI/Undiscovered Chinatown Walking TourWant to learn more about the history of L.A.’s Chinatown? Sign up for this walking tour that takes place in the morning, before the festival begins, when guides will show you temples, herbalists, antique sellers, and other off-the-beaten path spots most visitors might miss. February 1 at 10:30 a.m., Chinatown, $15. Disneyland Lunar New Year CelebrationDisneyland offers visitors what they describe as “a multicultural celebration filled with auspicious wishes for health, luck, and prosperity” for what they’re calling the Year of the Mouse. Among the festivities are special parades and water shows drawn from Mulan, Mickey and Minnie in their version of traditional holiday attire, lanterns, and special foods. January 17-February 9, Disney California Adventure Park. Ninth Annual Chinese New Year Celebration in Beverly HillsThe Beverly Hills Conference & Visitors Bureau partners with the city of Beijing for this celebration, officially titled “Happy Chinese New Year, Charming Jing-Jin-Ji.” Events will include a variety show, performance groups direct from China, and special packages at local restaurants and hotels, throughout the city of Beverly Hills. Visit website for details. https://www.instagram.com/p/B7eVgY3Be8Z/Lunar New Year at Shiok! Torrance’s Shiok! restaurant specializes in what they call Asian street food. In honor of Lunar New Year, they’ll host two performances by lion dancers, special menu items including “firecracker prawns,” and other fun activities. February 8 at 11:30 a.m., Shiok! 2595 Airport Dr., Torrance. Santa Monica Place Lunar New Year Celebration Celebrate the Year of the Rat with this Korean-focused celebration. Comedian Paul “P.K.” Kim will host, there will be lion dancers and Korean fan dancers, and there will be a K-Pop dance performance. After the entertainment, be sure to stop by Swarovski, Tory Burch, and other retailers offering special promotions. January 25 at 2 p.m., Santa Monica Place, 395 Santa Monica Pl., Santa Monica. Westfield Century City “Live at the Atrium” Lunar New Year Concert Mark the occasion with music at Westfield Century City. The mall will host lion dancers, followed by liver performances by Joyce Wrice, TFTI, and Justin Park. January 25 at 3 p.m., Westfield Century City, 10250 Santa Monica Blvd., Century City. RELATED: Immigration From Mainland China Has Transformed L.A.’s Chinese Food LandscapeStay up to date with everything you need to know about L.A. by following us on Facebook and Instagram. TAGSMonterey Park’s Lunar New Year FestivalLunar New YearDisney’s Lunar New Year CelebrationChinese New YearChinatownPrevious articleDaily Brief: The Senate Impeachment Trial BeginsNext articleIssa Rae Is Building an EmpireBrittany Martin RELATED ARTICLESMORE FROM AUTHORFor Artist Brenda Chi, Painting Chinatown Became a Form of HealingA Recent Wave of Attacks on Asian Americans Has Communities on EdgeHow to Make Beloved Lunar New Year Dish Bánh Chunglast_img read more

TSX claws back more losses: up 210 points

first_img Share this article and your comments with peers on social media The Toronto stock market powered to a solid gain for a fourth straight session Tuesday, supported in part by a well-received earnings report from Canadian Pacific Railway and data that showed Chinese economic growth slid to a five-year low in the latest quarter but was within expectations. The S&P/TSX composite index jumped 209.94 points to 14,547.71 as traders continued to snap up stocks beaten down over the course of a market sell-off that started last month. The selling pressure was ignited in part by worries about the state of the global economy and the impending end of a key stimulus measure by the U.S. Federal Reserve, its bond purchase program. TSX gets lift from financials, U.S. markets rise to highest since March Tuesday’s gains — four triple-digit advances in a row — left the TSX down just seven per cent from the record highs reached last month. It had been down almost 12 per cent at its worst levels last week. The TSX is still up six per cent year to date. But analysts say it would be a mistake to think that the market’s retracement has run its course and that indexes will resume going more or less straight up. “You will see more volatility, bigger swings in the markets and more emphasis on the news that comes through,” said Sadiq Adatia, chief investment officer for Sun Life Global Investment. “(It will be) more of a see-saw environment. But we still think it’s a see-saw heading upwards.” The Canadian dollar was ahead 0.44 of a cent to 89.06 cents US. Data showing U.S. homes sold in September at their fastest clip this year helped send New York indexes sharply higher as the Dow Jones industrials surged 215.14 points to 16,614.81, the Nasdaq soared 103.41 points to 4,419.48 and the S&P 500 index jumped 37.27 points to 1,941.28. The Dow and the S&P 500 are both off just four per cent off their September highs. Canadian Pacific Railway’s (TSX:CP) quarterly net income was up 23 per cent from a year ago to $400 million or $2.31 per share, missing estimates of $2.35 a share. CP also said that revenue came in at $1.67 billion, up nine per cent but missing estimates of $1.69 billion. The railway’s operating ratio, a key efficiency metric, improved more than expected to a record low of 62.8. CP shares climbed $2.93 cent to $224.58. Canadian National Railway (TSX:CNR) missed earnings estimates. It reported after the close that adjusted earnings per share came in at $1.04, a penny short of expectations and reaffirmed its financial outlook. Its operating ratio also improved, falling to 58.8 from 59.8 per cent. Commodity prices also advanced Tuesday even as China’s economic growth slowed to 7.3 per cent last quarter. That is lower than the 7.5 per cent rate that had been targeted by Chinese leaders, who are trying to steer China toward growth based on domestic consumption instead of overreliance on trade and investment. But the number was broadly in line with expectations and higher than some estimates that had pegged growth at 7.2 per cent for the quarter. Most TSX sectors advanced with the base metals sector in the lead, rising three per cent as December copper was ahead four cents to US$3.03 a pound. The energy sector was up 2.1 per cent even as the November crude contract, which expired Tuesday, rose 10 cents to US$82.81 a barrel. The December contract ran up 58 cents to US$82.49. Financial stocks were a major source of support with the sector ahead 1.25 per cent. The gold sector was the only decliner, down about one per cent while December gold rose $7 to US$1,251.70 an ounce. Keywords Marketwatch Facebook LinkedIn Twittercenter_img Related news S&P/TSX composite hits highest close since March on strength of financials sector Toronto stock market dips on weakness in the energy and financials sectors Malcolm Morrison last_img read more

Cabinet Approves Multimillion Contracts for Systems Software, Road Work

first_imgCabinet Approves Multimillion Contracts for Systems Software, Road Work UncategorizedFebruary 20, 2007 RelatedCabinet Approves Multimillion Contracts for Systems Software, Road Work RelatedCabinet Approves Multimillion Contracts for Systems Software, Road Work RelatedCabinet Approves Multimillion Contracts for Systems Software, Road Workcenter_img Advertisements FacebookTwitterWhatsAppEmail Cabinet has approved the award of a $69,300,000 contract (US$1,050,000) to the United States-based Starlims Corporation for the supply and installation of laboratory information systems software at the National Public Health Laboratory.“The software is being acquired under the government of Jamaica/World Bank HIV/AIDS prevention and control project and will enhance the management information system for the National Public Health Laboratory, the Blood Bank and its associated regional laboratories,” said < Minister of Information and Development, Hon. Donald Buchanan at Monday's (Feb.19) post Cabinet press briefing held at Jamaica House.Cabinet, at yesterday's sitting, also approved a $22,925,850.75 contract to Surrey Paving and Aggregate Company Limited, for works to be carried out on Collie Smith Drive in South St. Andrew.Mr. Buchanan informed that the contract will provide for the construction of curbs and sidewalks along Collie Smith Drive as well as the preparation of the existing road surface to receive an overlay of asphalt concrete."This will make for Collie Smith Drive to be a much better access road than it now is and it will provide for a greater ease of movement for the people in that community," he said.last_img read more

Tributes Heaped on McKenley at Funeral Service

first_imgAdvertisements RelatedTributes Heaped on McKenley at Funeral Service Tributes Heaped on McKenley at Funeral Service UncategorizedDecember 8, 2007 FacebookTwitterWhatsAppEmail Tributes were heaped on world renowned sports icon, Herbert Henry McKenley, at his official funeral service on (December 8), held at the National Arena in Kingston.Noting the challenge one would have to sum up the life of such a great legend, Former Prime Minister, P.J. Patterson in giving the remembrance, spoke of Mr. McKenley’s first years in his birth town, Pleasant Valley in Clarendon, his achievements on the sporting arena, his involvement in youth development and his contribution to national development.Describing him as a “true ambassador for Jamaica,” and “an unmatched legend of his time,” Mr. Patterson epitomized Mr. McKenley as a man who gave service above self, not only while he was on the track and field stage, but also after retiring from the sport.“This extraordinary achiever,” he said, “wanted as many others as possible to experience the satisfaction of success.and was always prepared to give generously of his time and resources to help them make it happen.”“This great son of our soil moved to an even higher plain by the tremendous service he gave to his society long after the roar of the stadium crowds had ended and the sheen on the Medals of Honour had disappeared,” Mr. Patterson added.He said that as Mr. McKenley embarked on sharing his talents with succeeding generations, he began with his old school, “but it was never just Calabar. He shared his knowledge and technical skills in rural and urban Jamaica alike.”In addition, Mr. Patterson noted that he was a mentor and coach for the Jamaica Olympic team, as well as that of the Americas team. The former Prime Minister also spoke of the humility of Mr. McKenley. “Despite his high international standing, he exhibited the kind of humility which is the hallmark of a truly great man,” he said.Heartening tributes also came from Prime Minister Bruce Golding; daughter, Laura McKenley Bryce; and representatives from Calabar Old Boys’ Association, the Jamaica Athletics Association, Jamaica Olympic Association, and Olympian, Donald Quarrie, who represented the athletes of Jamaica.Described as “the most illustrious son” of Calabar, Bernie Panton of the Calabar Old Boys’Association, said Mr. McKenley was one who had a “keen sense of service, fired by an all consuming passion for excellence,” while noting his humbleness, despite his greatness. “His humility is not in question. Herb knew that he had this special talent but it was to be used for the service of others, not for self aggrandizement and vain glory,” he noted.Howard Aris, President of the Jamaica Amateur Athletic Association (JAAA) also underscored Mr. McKenley’s true passion for excellence, and his service to his fellowmen and his country.“Herb McKenley, through his athletic performance, laid the foundation for so many other great athletes coming behind him. In a sense, Herb was forerunner who opened the door for others to follow,” he said.In his tribute on behalf of the Jamaica Olympic Association, President, Mike Fennell said that Mr. McKenley was a “great Jamaican, athlete, coach, mentor, motivator, patriot, and a friend to all.”Of note, he said, was Mr. McKenley’s drive to succeed amidst near gold misses as seen in the 1948 Olympic Games in London, and pointed out that this did not deter him from the sport, but instead encouraged him further to achieve his gold medal dream, which was accomplished at the 1952 games in Helsinki, when Jamaica won gold in the 400-metre relay.Speaking on behalf of the athletes, Mr. Quarrie said that Mr. McKenley’s contribution and service to Track and Field has inspired a number of athletes to achieve success.“We all know that Herb’s major thing was running, it was a major part of his life and after his competitive years, he kept running around Jamaica trying to develop and promote athletics in Jamaica. We as athletes knew how important he was to us, but found out that he was even more important on the international athletics circuit. Herb was a great motivator to all athletes,” he said. To this day, Mr. McKenley remains the only person to have reached the finals in the Olympic 100, 200 and 400-metre races. He is the only athlete to have won medals in all three sprints in the same major games, which was the 1951 Pan American Games; and the only man in the 20th Century to win Olympic medals in the 100m and 400m.Mr. McKenley, who died on November 26 at age 85, was laid to rest in National Heroes Park in Kingston.center_img RelatedTributes Heaped on McKenley at Funeral Service RelatedTributes Heaped on McKenley at Funeral Servicelast_img read more

More Canberrans eligible for COVID-19 vaccine

first_imgMore Canberrans eligible for COVID-19 vaccine Canberrans between the ages of 40-49 will now be able to book in for a Pfizer COVID-19 vaccination at the ACT COVID-19 mass vaccination clinic at Garran.The increased eligibility will be supported by an improved online booking system for ACT vaccination clinics and extended opening hours for the telephone booking line.Canberrans have embraced the opportunity to receive a COVID-19 vaccination, with more than 100,000 doses administered across our ACT Government vaccination clinics, primary healthcare providers and through the Commonwealth Aged Care program.The vaccine is one way that Canberrans can protect themselves, their families and our community from the worst health impacts of COVID-19. We are asking Canberrans to roll up their sleeves and take up the opportunity to get a vaccination as soon as possible.With about 60,000 more ACT residents becoming eligible today, everyone will not be able to get their first dose in week one. Like all jurisdictions, the ACT faces supply constraints on the availability of COVID-19 vaccines.However, with many of the high risk Canberrans now vaccinated, the ACT Government is now in a position to support more Canberrans to receive their COVID-19 vaccine.The ACT Health Directorate has been preparing the COVID-19 vaccination booking system for this next stage of the vaccine rollout in the ACT. This work includes refining how Medicare card details are used in the system. The threshold for a patient match has been lowered so that numbers don’t have to be a 100 per cent match for people to create a MyDHR account.The ACT Health team is also working with Services Australia to prospectively update Medicare for all patients who are currently in the ACT patient record system. This will mean more people can sign up for MyDHR online without needing to call the team first.The ACT Government COVID-19 vaccination phone booking line is available for those who are unable to register for MyDHR or who prefer to speak with someone to make a booking.Telephone bookings have accounted for around 57 per cent of all vaccination appointments to date.From Thursday 3 June, we are expanding the hours of operation for the phone booking line to be available from 7am to 7pm, seven days a week. We have also increased staffing and updated the call back system to reduce wait times.This phone line is available for people to book a COVID-19 vaccination appointment, and call-takers are not able to provide individual health advice.We encourage anyone who has questions or concerns about the COVID-19 vaccine and their own health circumstances to contact their GP or healthcare provider before calling to make an appointment.The ACT Government Vaccination Clinics are live on the Australian Government’s Vaccine Eligibility Checker. The eligibility checker links people directly to the MyDHR Digital Health Record platform for online bookings.Eligible Canberrans aged 50 and over can also contact participating general practices and GP-led respiratory clinics to book their appointment. More than 70 ACT general practices and respiratory assessment clinics are supporting the rollout.We will continue to work with the Commonwealth Government and healthcare providers to deliver a safe, effective and accessible vaccine program in the ACT. /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:Act, ACT Government, aged care, Australia, Australian, Australian Government, commonwealth, digital health, general practice, Government, health, healthcare, Medicare, operation, Pfizer, vaccinationlast_img read more

CU-Boulder Fall Welcome and Move-in feature community-building events

first_img“It is important that our university come together to welcome our incoming students and their families to campus so that they can have a successful academic and social transition during this important first step in their college experience,” said Vice Chancellor for Student Affairs Christina Gonzales. Published: Aug. 14, 2015 Move-in 2014 Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail The University of Colorado Boulder Fall Welcome, which introduces new students to the campus through various events and activities, officially kicks off Tuesday, Aug. 18.The goal of Fall Welcome is to ensure that the transition to CU-Boulder is an engaging, healthy and positive experience for all students. Workshops for parents are also planned on topics such as maintaining your sanity while supporting your freshman child and helping students manage stress in healthy ways. Fall Welcome events continue through the first few weeks of classes.“It is important that our university come together to welcome our incoming students and their families to campus so that they can have a successful academic and social transition during this important first step in their college experience,” said Vice Chancellor for Student Affairs Christina Gonzales.Among the highlights: Move-in. Most students move into campus residence halls on Aug. 19 and 20. Throughout campus move-in, “Quick Drop Stations” will be designated around the residence halls. Students will check in with a photo ID at the Quick Drop Station closest to their residence hall where volunteers will help unload vehicles and direct drivers to extended-term parking lots. An overview of the move-in process indicating where to check in, where to park while dropping off belongings and where to park after unloading are available at https://housing.colorado.edu/node/516. Events. Hundreds of events representing every corner of the CU-Boulder campus community will help students make immediate connections and have fun during this pivotal time. Fall Welcome app. All the information on the Fall Welcome webpage – and more – is available through the new CU-Boulder Fall Welcome Guidebook App. Download it to access a full session schedule, a campus map and important campus contacts. Search “CU-Boulder Fall Welcome” in the Guidebook application search feature and download to your iPhone, iPad or Android device.Students and parents can get additional information about Fall Welcome, including details about residence hall move-in, class registration, maps, directions and more at www.colorado.edu/orientation/fallwelcome.Other Fall Welcome event highlights:Thursday, Aug. 20: CU Kickoff 8:30 p.m. – The Division of Student Affairs, Residence Hall Association and Colorado Athletics host the “CU Kickoff” in Folsom stadium with an official welcome from the Residence Hall Association, CU Student Government and Student Affairs, followed by a pep rally. Connect @ the Rec 9 p.m. – CU-Boulder Recreation Services and the Residence Hall Association invite students to connect with other students at an open house. Activities include bouldering in the climbing gym, ice skating, indoor putt-putt course, human foosball inflatable, swimming in the Buff pool, lawn games, outdoor movie, blender bikes and free pizza. Friday, Aug. 21: Fall Convocation 10 a.m. – Attendance at Convocation, the rite of induction into the CU-Boulder academic community, is essential and is expected of all new students. Students will hear from Chancellor Philip P. DiStefano, faculty, staff and student leaders and learn about the meaning and responsibilities of becoming CU-Boulder students. Taste of CU 11 a.m. – Taste of CU is a signature event hosted by Housing and Dining Services following the Convocation. The event will feature food, music and a chance to connect with other new Buffs. Faculty and staff are welcome to enjoy a Taste of CU. UMC Fall Fest 7:30 p.m. – UMC Fall Fest features a variety of fun, interactive activities and free food throughout the UMC. Activities include tie dye shirts, comedy performances and free bowling. Be sure to arrive early to have your picture taken with CU’s live mascot, Ralphie.Saturday, Aug. 22: Welcomefest 2015 5:30 to 10:30 p.m. – The annual CU Welcomefest Concert will take place on Farrand Field. Bands include Seven Lions, Joywave, Sunboy and innerspace.Contact: Jennifer McDuffie, New Student Welcome Programs, (O) [email protected] Katie Theiler, Housing and Dining, (O) [email protected] Julie Poppen, CU-Boulder media relations, (O) 303-492-4007 (M) [email protected]last_img read more

Telenor confident in strategy after stable Q1

first_imgHome Telenor confident in strategy after stable Q1 AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 04 MAY 2017 Telenor advances multi-vendor SA 5G Telenor books loss on $780M Myanmar write-off Author Tags Telenor focussed on strong data uptake across emerging markets in a stable set of Q1 results, as CEO Sigve Brekke insisted the company is laying a “solid foundation” following its decision to exit India.The Norway-headquartered operator entered into a definitive agreement with India-based Bharti Airtel to sell its struggling unit in the country in February, and the deal is expected to close within 12 months.Telenor said its Q1 results had been adjusted to reflect its new group structure, with India now presented as a discontinued operation. As a result of the decision, Telenor raised its 2017 outlook slightly. Its 2017 EBITDA margin is now expected to hit 37 per cent, 1 per cent higher than the previous guidance.In a statement, Brekke reiterated “simplification and efficiency improvements” were top of the agenda to improve profitability, and recent moves by the company “are all examples of these efforts”. In addition to its decision to exit India, Telenor is also in the process of selling off its stake in Veon (formerly VimpelCom), as well as taking the decision to reorganise its business units into four regional clusters.EarningsTelenor’s net income in Q1 2017 of NOK4.2 billion ($484.7 million) was marginally lower than the NOK4.3 billion generated in the comparable period of 2016. Revenue of NOK30.5 billion was 3 per cent lower, due to currency effects.The company explained its net income figure still included India, and was largely on par with Q1 2016 “as reduced net income from associated companies was offset by improved net income from the discontinued operation”.Telenor said revenue continued to be positively impacted by both ARPU uplift and a higher number of customers in Bangladesh (1.9 million additions in total), as well as sustained growth in the customer base in both Myanmar and Pakistan. However, the growth was offset by lower handset sales and decreased interconnection rates.Brekke added the company introduced a number of new and improved mobile offers in several markets during the recent quarter, while data consumption in Asia continued to be strong, particularly in Myanmar and Pakistan.The total share of active data users increased by 1 percentage point to 50 per cent during the quarter, while overall mobile subscriptions increased by 2 million in the quarter, giving Telenor a total of 172 million. Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Related Previous ArticleMobile fuels Facebook ad revenue growthNext ArticleTelecom Italia reveals earnings boost ahead of key AGM Telenor, Axiata plot Malaysian merger Kavit Majithia Q1Telenorlast_img read more

Feds Would Lift Block on Oil Leases in MT, ND, SD

first_img Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. BILLINGS – Federal officials want to move forward with oil and gas leases on about 260 square miles in Montana, North Dakota and South Dakota that have been held up over climate change concerns.The government agreed in March to re-examine its leasing program in the three states after environmentalists filed a lawsuit seeking reductions in greenhouse gases released by companies during drilling.But in a series of studies released Thursday, the Bureau of Land Management said emissions from oil and gas drilling were negligible compared with other sources.The agency is recommending that drilling be allowed to proceed on about 36,000 acres of leases sold in 2008 but later suspended. Lease sales would be held in December on 130,000 acres that were deferred.At issue are greenhouse gases emitted by oil company trucks and equipment, and industry practices such as flaring methane directly into the atmosphere.The new BLM proposal includes steps companies can take to reduce greenhouse gas emissions, but no requirements that they do so, said BLM spokesman Greg Albright.An attorney for the environmental groups that sued over the 2008 leases said those steps were not enough.“It’s a lot of talk and not a lot of action,” said Erik Schlenker-Goodrich with the Western Environmental Law Center. “They’re really deciding to do the same as they did before. There’s been no change.”Nationwide, the Environmental Protection Agency says oil and gas operations account for about 23 percent of annual U.S. methane emissions and 2 percent of total greenhouse gas emissions.However, the BLM’s new studies said emissions in Montana would change only slightly under drilling that is anticipated if the 166,000 acres now held up gets developed.“It’s a pretty small number. The highest we have is 0.02 percent of the state total,” Albright said.A public comment period on the BLM proposal closes Sept. 13.last_img read more

Mayor slams hospital over ‘scrub snub’

first_img WhatsApp Mayor slams hospital over ‘scrub snub’ Pinterest Pinterest AudioHomepage BannerNews Publicans in Republic watching closely as North reopens further Previous articleIrish Water urged to review plans for works in InishowenNext articlePeople warned not to organise bonfires this Halloween News Highland Twitter Arranmore progress and potential flagged as population grows Nine til Noon Show – Listen back to Monday’s Programme By News Highland – October 30, 2018 Twittercenter_img Community Enhancement Programme open for applications Facebook Google+ RELATED ARTICLESMORE FROM AUTHOR WhatsApp The Mayor of the Letterkenny Municipal District has described the practice of transporting hospital laundry to the other side of the country to be cleaned as a massive snub to Donegal. It’s after claims that Letterkenny University Hospital is sending most of its laundry to County Cork to be washed on an ongoing basis.In the past, the hospital had its own laundry service in which up to 18 people were employed.Cllr Ian McGarvey believes that the money would be better spent on reinstating a similar service in the county:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2018/10/iadfgdfgfdgdfgmcgsrvey.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Loganair’s new Derry – Liverpool air service takes off from CODA Facebook Important message for people attending LUH’s INR clinic Google+last_img read more