Overhaul for Crest Nicholson

first_img TROUBLED housebuilder Crest Nicholson faces another financial restructuring as new majority shareholder Varde examines the company’s finances, people close to the business said yesterday. US-based Varde is working with advisers Lazard and Bingham McCutchen on the options for Crest, which became 90 per cent owned by its lenders following a £648m debt for equity swap in January 2009. Varde bought 30 per cent of Crest’s equity and around a quarter of its debt in September for an undisclosed sum, when Lloyds Banking Group sold its exposure to the company. Varde has also acquired a small stake from Royal Bank of Scotland. Crest still has around £350m of senior debt and £150m of payment in kind notes, which carry an interest margin of 250 basis points. Varde, which specialises in distressed real estate assets, is understood to be working with advisers to improve the standing of the debt. Crest made a loss of £50.7m in the ten months to October 2009, the most recent figures available, though the non-listed firm has insisted it is performing strongly this year. The company, like many property firms, was hit badly by the slump in construction in the wake of the recession. Crest was also targeted by the investment vehicle owned by Pizza Express founder Hugh Osmond, but rejected a £350m takeover offer in July. A spokesperson for Crest Nicholson declined to comment yesterday. Rick Noel, a partner at Varde, told City A.M. by e-mail: “We have spoke to Crest Nicholson and other debt holders about many things,” but could not confirm a restructuring was in the works. Share Wednesday 13 October 2010 7:54 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Overhaul for Crest Nicholson center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports Dropmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comFamilyMindedThe Most Common Astrology Questions People AskFamilyMindedOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressStadium TalkBest Basketball Player Ever From Every StateStadium TalkForbes14 Richest Black Billionaires RankedForbes Show Comments ▼ KCS-content whatsapplast_img read more

Kenya Airways Limited (KQ.ke) Q32018 Presentation

first_imgKenya Airways Limited (KQ.ke) listed on the Nairobi Securities Exchange under the Transport sector has released it’s 2018 presentation results for the third quarter.For more information about Kenya Airways Limited (KQ.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Airways Limited (KQ.ke) company page on AfricanFinancials.Document: Kenya Airways Limited (KQ.ke)  2018 presentation results for the third quarter.Company ProfileKenya Airways Limited is the flag carrier airline of Kenya operating domestic, regional and international flights to destinations in Africa, the Middle East, Asia and Europe. The company was founded in 1977 after the dissolution of East African Airways and was wholly-owned by the government of Kenya until 1995 after which it was privatised. Kenya Airways is a public-private partnership where the largest shareholder is the government of Kenya (48.9%). Kenya Airways wholly-owns Jambojet, a low-cost carrier which was created in 2013; and African Cargo Handling Limited. Companies partly owned by Kenya Airways include Kenya Airfreight Handling Limited (51%) which handles perishable goods cargo; and Precision Air (41.23%) which is a Tanzanian carrier operation. Kenya Airways head office is in Nairobi, Kenya with its main operations based in Jomo Kenyatta International Airport. Kenya Airways Limited is listed on the Nairobi Securities Exchangelast_img read more

GSK & Save the Children announce $1m Healthcare Innovation Award winners

first_imgGSK & Save the Children announce $1m Healthcare Innovation Award winners Melanie May | 29 February 2016 | News  100 total views,  1 views today About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis4center_img Tagged with: Awards corporate Funding GSK and Save the Children have announced the recipients of their third annual $1 million Healthcare Innovation Award.The award recognises innovations from developing countries that are helping to reduce deaths among children under five. This year, the award is shared by four innovations: a paperless immunisation records system in Vietnam won the largest share of the award, followed by a foil pouch for accurately giving HIV medicines to newborns in Ecuador; an integrated care package for mothers and newborns in Kenya; and a tool for better understanding child deaths in South Africa.The award is a major initiative of GSK and Save the Children’s five-year partnership, through which the two organisations are combining their resources, voice and expertise with the aim of saving one million children’s lives. Since the partnership launched in 2013, the awards have recognised more than a dozen projects.PATH, Vietnam received $400,000 for Immreg, a system which gives health workers in the Ben Tre province a computer or smartphone to monitor vaccine stocks; register pregnant women and newborns; track the vaccines they have received, and remind mothers via text to get vaccinations for them or their child.Fundación VIHDA, Ecuador received $226,600 for the ‘Pratt Pouch’: a foil pouch similar to a fast-food ketchup sachet that helps mothers give accurate doses of HIV medicines to their newborns.2020 MicroClinic Initiative, Kenya (pictured) received $176,600 for Operation Karibu: its ‘welcome programme’ of care for new mothers, which encourages pregnant women to seek medical care before, during and after birth to improve newborn survival rates.SA MRC Maternal and Infant Health Care, South Africa received $176,600 for ‘Child PIP’, an audit tool for the review of infant and child deaths in South African hospitals that helps local healthcare teams understand the causes of child mortality in their area and improve care.Lisa Bonadonna, head of the GSK-Save the Children partnership, said:“When we embarked on our partnership – and the Healthcare Innovation Award – we set out to identify brilliant ideas, born in developing countries, which are helping to save children’s lives. These latest inspiring innovations are strengthening healthcare systems and improving access to healthcare for mothers and children in some of the most underserved communities. We look forward to seeing them scale up and share their ideas, as previous winners have already gone on to do.”More information on the partnership, the award, and criteria for entry can be found here: http://www.gsk.com/en-gb/about-us/corporate-partnerships/save-the-children-partnership/#past-healthcare-innovation-award-winners Advertisement  101 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis4last_img read more

Oil prices swoon, banks fear defaults ahead

first_imgJan. 12 — As the extent of overproduction in the oil and gas industry sinks in with the markets, oil prices continue to swoon.Just today, the price of U.S. crude oil dropped by another 5 percent, bringing it down to $46.07 a barrel, the lowest since April 2009. Last June, the price was more than $100 a barrel.The huge investment bank Goldman Sachs announced it was cutting its three-month forecast for U.S. West Texas Intermediate crude oil to $41 from $70 a barrel. West Texas Intermediate is used as a benchmark for U.S. crude oil prices. Goldman Sachs also slashed its three-month price forecast for Brent crude, the European benchmark.As explained earlier, the big decline in oil prices reflects two factors, which have resulted in a crisis of capitalist overproduction. (See “Capitalist overproduction and stagnation behind sharp decline in oil prices,” WW, Jan. 5.)One is the continued capitalist economic stagnation, and even decline in some countries, that has affected world demand for oil.The other is the huge investment made by U.S. oil companies in the last few years that has propelled this country to become the world’s largest oil and gas producer, after having been a net importer of oil just a short while ago.This combination of increased oil production and less-than-anticipated demand is leading to a new crisis in an area of the capitalist economy that can drag everything down.While many workers are right now getting relief from lower prices at the pump, this will be more than offset if the crisis triggers a general crisis in the financial markets, which could then ripple out to affect the jobs and income of millions.Big banks worried about defaultsAlready, several dozen oil rigs have been shut down in western U.S. and thousands of workers laid off. But this may only be the tip of the iceberg. The rapid expansion of U.S. oil production by the mega-corporations that control the industry was financed by big loans from major banks. These banks are now worried about possible defaults on the loans, raising the prospect of another round of bankruptcies.The title of an article in the Jan. 11 New York Times Business Section warned Wall Street that “As Oil Prices Fall, Banks Serving the Energy Industry Brace for a Jolt.”The article explained: “Banks have been lending hand over fist to companies in the nation’s energy industry, underwriting bonds, advising on mergers, even financing the building of homes for oil workers. All of this has provided a boon to banks that have been struggling to find more companies and consumers wanting to borrow.“Yet with the price of crude oil falling below levels sufficient for some energy companies to service their huge debts, strains are being felt and defaults are likely. While it may take some time for the crunch in the oil industry to translate into losses, one thing already seems clear: The energy banking boom is over.”Making Wall Street especially nervous is the fact that the new oil to come online in the U.S. is much more expensive to produce than that obtained from oil fields in other parts of the world, especially the Middle East. At the beginning of this boom, oil companies took out hundreds of billions in loans to pay for the technological infrastructure that has allowed them to get oil from shale rock through the environmentally destructive process known as fracking.Huge investments have also been made in tar sands and in attempts to establish oil rigs offshore in the Arctic north of Alaska. A detailed front-page article in the New York Times Magazine of Jan. 4, entitled “The Wreck of the Kulluk,” told of Shell Oil’s unsuccessful effort in 2012 to position a giant offshore drill rig in the Beaufort Sea, which ended in the rig going aground after impossible weather conditions threatened the lives of the entire crew.This cautionary tale might never have gotten such wide attention were it not for the fact that it is becoming clear to some of the big investors on Wall Street that they may be in for a very bumpy ride.Part of the oil companies’ strategy seems to have been based on thinking they could capture more of the world market from countries in the Organization of Petroleum Exporting Countries. They particularly wanted to undermine Iran, Venezuela and Russia. But with oil now trading at less than $50 a barrel, and expected to drop even further, the stocks of the companies that started this competitive race by investing so heavily in fracking and other technologies are starting to fall, dragging down the financial markets.There is no eradicating the capitalist boom-bust cycle. Temporary “bailouts” may drive the basic contradictions of the profit system underground, but they are sure to break out in even more catastrophic forms later on. The only answer is to get rid of capitalist exploitation itself, so the working class can reorganize economic life to benefit all the people, not the privileged few.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

CIIE Sends Best Wishes for the Year of the Ox

first_img WhatsApp Twitter By Digital AIM Web Support – February 15, 2021 CIIE Sends Best Wishes for the Year of the Ox TAGS  Pinterest Facebook Registration for the Business Exhibition of the 4th CIIE is now opencenter_img Previous articleRussian cargo ship launched to International Space StationNext articleNorth America Virus Filtration Market 2020-2026: Consumables, Instruments, Services – COVID-19 Impact and Growth Opportunity – ResearchAndMarkets.com Digital AIM Web Support Facebook Local NewsBusiness Pinterest Twitter WhatsApplast_img read more

FHFA Director Mark Calabria Talks Increased GSE Capital Retention

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Previous: What Wells Fargo’s New CEO Means for the Industry Next: NFIP Extended Through November Sign up for DS News Daily Home / Daily Dose / FHFA Director Mark Calabria Talks Increased GSE Capital Retention Subscribe The U.S. Department of the Treasury (Treasury) and the Federal Housing Finance Agency (FHFA) recently announced that they had agreed to modifications to the Preferred Stock Purchase Agreements (PSPAs) that will permit Fannie Mae and Freddie Mac to retain additional earnings in excess of the $3 billion capital reserves currently permitted by their PSPAs.These modifications are an important step toward implementing Treasury’s recommended reforms that will define a limited role for the Federal Government in the housing finance system and protect taxpayers against future bailouts,” said U.S. Treasury Secretary Steven T. Mnuchin.FHFA Director Mark Calabria released a statement recently regarding the letter agreement with the Treasury to increase Fannie Mae and Freddie Mac capital retention.“The Enterprises are leveraged nearly 1,000-to-one, ensuring they would fail during an economic downturn – exposing taxpayers once again. This letter agreement between Treasury and FHFA, which allows the Enterprises to retain capital of up to $45 billion combined, is an important milestone on the path to reform,” said FHFA Director Calabria. “FHFA commits to working with Treasury in the coming months to amend the share agreements and further advance broader housing finance reform. These reform goals include limiting the government’s role in housing finance, increasing marketplace competition, focusing on affordable housing, and sustainable homeownership. The status quo is not an option. Now is the time to act.”To compensate Treasury for the dividends that it would have received absent these modifications, Treasury’s liquidation preferences for its Fannie Mae and Freddie Mac preferred stock will gradually increase by the amount of the additional capital reserves until the liquidation preferences increase by $22 billion for Fannie Mae and $17 billion for Freddie Mac.Treasury and each of Fannie Mae and Freddie Mac also agreed to negotiate an additional amendment to the PSPAs that would further enhance taxpayer protections by adopting covenants that are broadly consistent with the recommendations for administrative reforms contained in the Plan. Tagged with: Fannie Mae FHFA Freddie Mac Treasury Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago September 30, 2019 1,374 Views Related Articles Fannie Mae FHFA Freddie Mac Treasury 2019-09-30 Seth Welborn Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago FHFA Director Mark Calabria Talks Increased GSE Capital Retentionlast_img read more

Human Rights strategy to be discussed at Letterkenny RCC meeting

first_img Twitter WhatsApp WhatsApp Google+ Facebook Pinterest Need for issues with Mica redress scheme to be addressed raised in Seanad also The Irish Human Rights and Equality Commission has begun a major public consultation as it prepares to draw up its strategy for protecting and promoting human rights and equality.Chief Commissioner Emily Logan says people are being asked to outline what they believe should be done foster a more equal and just society in which everyone’s rights are respected and upheld.Given the recent revelations of alleged human trafficking in Letterkenny, Ms Logan says the timing of the local meeting is particularly apt…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/10/emilyhumanrights.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Google+ And tomorrow’s meeting takes place at the Regional Cultural Centre in Letterkenny between 11am and 1pm, with registration at 10.30. Homepage BannerNews Human Rights strategy to be discussed at Letterkenny RCC meeting Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleJordan Boyce back at the Ockey in confident mood after game with three time world finalistNext articleDonagh Kelly pulls out of Saturday’s Harvest Rally News Highland RELATED ARTICLESMORE FROM AUTHOR Facebook By News Highland – October 7, 2015 Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH last_img read more

Patient Internet Access now available at LUH

first_img Patient Internet Access now available at LUH Journey home will be easier – Paul Hegarty FT Report: Derry City 2 St Pats 2 Pinterest Twitter Facebook Harps come back to win in Waterford Google+ RELATED ARTICLESMORE FROM AUTHOR Twitter By News Highland – October 26, 2018 Google+center_img AudioHomepage BannerNews Pinterest DL Debate – 24/05/21 WhatsApp Previous articleFinal Push for Promotion: Harps Secretary John Campbell has advice for fansNext articleDonegal to receive almost €1 million for local road upgrades News Highland Facebook Derry draw with Pats: Higgins & Thomson Reaction Free public access WiFi has been launched at Letterkenny University Hospital.The WiFi is accessible in the main hospital campus, is accessible under the ‘Eir Guest’ login and is available to patients, visitors and staff in the hospital.Laurence Moore is Head of ICT Operations at Letterkenny University Hospital:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2018/10/moore.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp News, Sport and Obituaries on Monday May 24thlast_img read more

Letterkenny man in court on human trafficking charges

first_img WhatsApp Important message for people attending LUH’s INR clinic Twitter Facebook By News Highland – May 19, 2017 Nine til Noon Show – Listen back to Monday’s Programme DL Debate – 24/05/21 WhatsApp Facebook A Letterkenny man has appeared at Ballyshannon District Court earlier today, charged with human trafficking in Sligo.41-year-old Sorin Corpaci, Fortwell Court, Letterkenny is charged that on dates between May 28 2015 and December 9 2015 at Carwash Pearse Road trafficked a female contrary to section 4 (1) and (7) of the Crimianl Law (Human Trafficking Act) 2008.Sligo detective garda Joe Scanlon gave evidence of arresting the defendant at Pearse Road in the town and later charging him on May 18th.Judge Kevin Kilrane asked if any money had been seized in connection with this matter and was told that this was not the case.Defence solicitor John Anderson applied for bail to the Rumanian national.Superintendent Colm Nevin told the court the defendant was a “substantial businessman” and had a car wash business.The court released the defendant on a E2000 cash bail which was produced in court.He was to sign on at Letterkenny Garda Station three times a week, on Monday, Wednesday and Saturday from 9 am to 9pm.And he was to have no contact with any potential witnesses or the alleged victim and he had to surrender his passport.The court was told the defendant’s current passport had expired.The defendant told the court that he had not been in Rumania in seven years.Judge Kevin Kilrane released the defendant on bail to July 13 to Sligo District Court for the preparation of a book of evidence.He imposed a reporting restriction on the identity of the alleged victim. Twitter Previous articleShorthall says “blonde” comments raise questions about Arlene FosterNext articleMan who raped his grand niece in Donegal jailed for seven years News Highland center_img Letterkenny man in court on human trafficking charges Homepage BannerNews Google+ Pinterest Arranmore progress and potential flagged as population grows News, Sport and Obituaries on Monday May 24th RELATED ARTICLESMORE FROM AUTHOR Google+ Loganair’s new Derry – Liverpool air service takes off from CODA Pinterestlast_img read more

Police appeal for information over serious weekend crash

first_img Loganair’s new Derry – Liverpool air service takes off from CODA Police appeal for information over serious weekend crash Twitter Facebook Pinterest By News Highland – October 18, 2018 Important message for people attending LUH’s INR clinic DL Debate – 24/05/21 Pinterest Police in Strand Road are appealing for information following a serious two vehicle road traffic collision at Culmore Road which happened on Sunday last 14th October.At around 4;25pm, it was reported that a white Volkswagen Golf and a grey BMW X1 were involved in the collision.Northern Ireland Ambulance Service attended the scene and a female passenger in the VW Golf in her 70’s was taken to hospital for treatment.Her condition is described as serious but stable.A male driver in his 70’s of the VW Golf was also taken to hospital for injuries that are not believed to be life threatening.Enquiries are continuing and police are appealing to anyone who witnessed the incident or who has dashcam footage of the vehicles prior to the incident to contact police on 101. Arranmore progress and potential flagged as population grows WhatsAppcenter_img RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews Previous articleDonegal Championship Final Preview – The Managers: Mervyn O’Donnell & Martin ReganNext articleGAA Programme – Donegal Tyrone & Derry Championship Finals Weekend News Highland Twitter News, Sport and Obituaries on Monday May 24th Google+ Facebook Google+ Nine til Noon Show – Listen back to Monday’s Programme WhatsApplast_img read more