Alitalia’s board has filed for an “extraordinary administration” as the Italian flag carrier staggers towards what could be its final days.The move will see the Italian government provide temporary funds to keep the airline flying while administrators are appointed to decide whether to sell or liquidate it.The administrators will have 180 days to arrive at a decision with a possible extension of 90 days, Bloomberg reported.The Italian government has indicated it will not renationalise the carrier and major investors have no appetite to put in more money after the airline’s workers rejected a 2 billion euro restructuring deal that would have seen job losses and pay cuts.The airline is estimated to have lost 3 billion euros since it last emerged from bankruptcy in 2009The airline’s board said in a statement issued on Tuesday that the bankruptcy proceedings acknowledged “the serious economic financial situation of the company, of the unavailability of the shareholders to refinance and of the impossibility to find in a short period of time an alternative’’. Alitalia’s flight schedule would continue to operate as planned, it said.Major shareholder Etihad Airways, which owns 49 per cent of Alitalia, said it was not prepared to continue to invest in the airline without support for the restructuring. Etihad invested 1.7 billion euros in Alitalia in 2014.Etihad Aviation Group chief executive James Hogan said the Abu Dhabi airline had done all it could to support Alitalia but it was clear the business required “fundamental and far-reaching restructuring” to survive and grow.“Without the support of all stakeholders for that restructuring, we are not prepared to continue to invest,’ he said. “We, therefore, support the necessary decision of the Alitalia Board to apply for extraordinary administration.“We are disappointed that despite Etihad’s significant investments in Alitalia, alongside those of the other shareholders, the airline was unable to proceed in its current form.’’Hogan said an initial strategy developed by Alitalia at the time of Etihad’s investment and implemented from 2015 had delivered “significant improvements”. “However, new marketplace challenges, including greater low-cost carrier competition and the impacts of terrorist events on tourism demand, meant further, deeper change was required,’’ he said.The Gulf airline is advising its passengers with Etihad bookings on Alitalia, or vice versa, to proceed with their travel plans as normal. It said it would communicate promptly and directly with its affected guests if the situation changed.The decision by the Alitalia workers to reject the restructuring comes as polls show most Italians are reluctant to bail out the troubled airline.
Read Next Google honors food scientist, banana ketchup inventor and war hero Maria Orosa The Wizards were again without All-Star point guard John Wall, who sat out his 14th game in a row after surgery on his left knee, but they trailed only 58-56 after two quarters Wednesday. Washington was playing on the second half of a back-to-back after winning at Milwaukee on Tuesday night, and a bit of lethargy showed early on while falling into a 16-point deficit in the second quarter.“We came out a little lackadaisical, a little sluggish,” Beal said.The Warriors, meanwhile, were well-rested after getting Tuesday off. They dispensed with the reigning NBA champs’ traditional White House visit while in town, opting to spend the day touring the National Museum of African American History and Culture with students from Durant’s nearby hometown of Seat Pleasant, Maryland.“We left it up to the players — what they decided to do, what they wanted to do. And this is what they decided to do, and it was a wonderful day yesterday,” Kerr said. “I think everybody enjoyed it.”In September, Curry said he would not visit the White House if invited; Trump then announced on Twitter that the “invitation is withdrawn!”TIP-INSWarriors: 21-3 against Eastern Conference opponents this season, 12-1 on the road. … Entered the day tied with the Rockets for the most wins in the NBA this season with 47.Wizards: Otto Porter Jr. led Washington with 29 points and 10 rebounds. … Washington has scored at least 100 points in 15 consecutive games, the longest active streak in the East.TURN, TURN, TURNThe Wizards helped create an early deficit with five turnovers that led to 11 points for the Warriors, including a Curry-to-Durant alley-oop dunk that put Golden State up 32-21. Washington finished with 18 turnovers, which translated to 26 points. “Unfortunately for us,” Brooks said, “that’s been sneaking up on us.”UP NEXT: Brace for potentially devastating typhoon approaching PH – NDRRMC LOOK: Iya Villania meets ‘Jumanji: The Next Level’ cast in Mexico Asked for the secret to such success at the outset of the second half, Kerr couldn’t help but respond with a joke.“Mainly fiery halftime speeches from the coach — Knute Rockne style, ‘win one for (assistant) Ron Adams’ type speeches,” Kerr said with a chuckle. “No, it’s not about adjustments. It’s about our guys, I think, just wanting to make a push coming out of the break. I can’t really explain it other than throwing that at you.”FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSLillard, Anthony lead Blazers over ThunderSPORTSMalditas save PH from shutoutIn his team’s previous game, a win Monday at the New York Knicks, the Warriors held a 39-18 edge in the third quarter, the seventh time this season they outscored an opponent by at least 20 points.This time, it was 27-14. Wizards coach Scott Brooks’ take on the Warriors’ dominance right after halftime? John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding LATEST STORIES Warriors: At Atlanta on Friday.Wizards: Host East-leading Toronto on Friday. AFP official booed out of forum “You could probably easily start off with saying they have four All-Stars. That’s a pretty good start. They should have a pretty good ‘every’ quarter,” Brooks said.Beal came in averaging a team-leading 23.7 points but he missed his first nine shots and had zero points at halftime. His first basket came with under 5½ minutes left in the third quarter.“They took a lot of my shots away. They doubled. They switched,” Beal said. “Their main objective was to take the ball out of my hands.”A lot of the credit goes to Thompson.“Klay did a really good job,” Kerr said. “We assign Klay with the most difficult job night after night.”ADVERTISEMENT Don’t miss out on the latest news and information. Families in US enclave in north Mexico hold sad Thanksgiving Typhoon Kammuri accelerates, gains strength en route to PH Rockets start fast, turn back Clippers for 14th straight Golden State Warriors forward Kevin Durant (35) dribbles the ball as Washington Wizards guard Bradley Beal (3) defends during the second half of an NBA basketball game Wednesday, Feb. 28, 2018, in Washington. The Warriors won 109-101. (AP Photo/Nick Wass)WASHINGTON — Coach Steve Kerr’s Golden State Warriors allowed a 16-point lead shrink to two at halftime against the Washington Wizards. Nothing that a typically dominant third quarter by the Warriors couldn’t solve.Using a 16-4 run out of halftime, Golden State won for the seventh time in eight games by beating the Wizards 109-101 as Kevin Durant scored 32 points, Stephen Curry added 25, and Klay Thompson helped limit Bradley Beal to eight Wednesday night, a day after the Warriors took schoolkids to a museum instead of visiting President Donald Trump at the White House.ADVERTISEMENT Pussycat Dolls set for reunion tour after 10-year hiatus MOST READ Police teams find crossbows, bows in HK university PLAY LIST 01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City View comments
Twitter/@theACCDNMidway through the second half of Wednesday night’s 72-58 home win over Syracuse, the Louisville Cardinals were doing whatever they wanted on offense. The dominant display was heavily featured on SportsCenter this morning, where the Cardinals had three of the Top 10 plays of the day.First up, at No. 7, this beautiful behind-the-back assist by Chinanu Onuaku.Nanu droppin’ dimes. pic.twitter.com/7MFnoY0qRb— LouisvilleSportsLive (@LvilleSprtsLive) February 18, 2016Next, at No. 4, another Onuaku assist—this time to Jaylen Johnson for a powerful alley-oop.It’s like Louisville found a “if you make the other team cry they have to let you play in the tournament” loophole pic.twitter.com/m4kMWmXva4— Mike Rutherford (@CardChronicle) February 18, 2016And finally, Louisville took home the top play, with this ferocious alley-oop from Damion Lee to Donovan Mitchell.If you look close enough, you can see a smile on Donovan Mitchell’s face as he slams this one home for @GoCards!https://t.co/xlTSYEXZ08— ACC Digital Network (@theACCDN) February 18, 2016That one was just mean. Mitchell liked it so much, he made it the header photo for his Twitter profile. It’s been a rough few weeks for the Cardinals. Last night’s big win had to be pretty cathartic.
Story Highlights The Hon. Julian Robinson, is urging closer collaboration between developed and developing countries in efforts to reduce the prevalence of cyber-crimes. State Minister for Science, Technology, Energy, and Mining, Hon. Julian Robinson, is urging closer collaboration between developed and developing countries in efforts to reduce the prevalence of cyber-crimes.He made the call while speaking at the just concluded international cyber crime conference in Seoul, South Korea.Making his contribution, on the topic: “Beyond Digital Divide towards Global Prosperity”, Mr. Robinson noted existing disparities between developed and developing countries in terms of the necessary interventions to effectively counter cyber crimes.“While the divide between developed and developing countries has narrowed significantly in the (general) area of legislation (enactment), it remains with respect to the ability of some countries to respond to cyber incidents and threats, through Computer Incident Response Teams (CIRTs),” he said.In stressing that the importance of legislation in the fight against cyber crimes “cannot and should not be overstated”, the State Minister said the work programme for both the Organisation of American States (OAS) and International Telecommunication Union (ITU) identifies the need for the implementation of legislative measures aimed at enabling investigation and prosecution.“Itis not sufficient, however, to simply promulgate legislation. Countries, developed and developing alike, have to continuously review their legislation to ensure that it appropriately addresses new and emerging cyber threats,” he underscored.In this regard, Mr. Robinson said the Jamaican Government has moved proactively to this end.He informed that in addition to the Cybercrimes Act, several other pieces of legislation are utilised in Jamaica to prosecute cyber crimes. These include: the Larceny Act; Interception of Communications Act; and Child Pornography Act.The State Minister added that accompanying legislation, in the form of the Electronic Transactions Act, has also been promulgated to promote and support legitimate engagements.In relation to the Cybercrimes Act, Mr. Robinson advised that a provision was incorporated into the legislation mandating a review by a Joint Select Committee of the Houses of Parliament, two years after the legislation’s implementation. He explained that this was done to ensure that the Act’s provisions remain consistent with and relevant to international best practices.As regards Computer Incident Response Teams (CIRTs), the Minister pointed out that any quest to establish such an entity must be supported by an effective training regime for the personnel involved, in order for it to be successful.He pointed out that of over 18 established CIRTs currently, only two are in the Caribbean,In this regard, the State Minister disclosed that Jamaica has begun to develop a cadre of professionals with the technical expertise to identify, determine, and respond to cyber and other technology-related crimes. He, however, noted that the complement of personnel is “not yet sufficient.”“The Jamaica Constabulary Force, for example, has a specific unit within its Organised Crime Investigation Division (OCID) with responsibility for investigating cyber crime. With support from our international and bilateral partners, the unit would be able to collaborate and, otherwise, share its resources and know-how with other Caribbean countries,” he indicated.Mr. Robinson also disclosed that a specialized unit also exists within the Office of the Director of Public Prosecution (DPP), which is responsible for prosecuting cyber crime incidents and liaising with and supervising police investigations.The State Minister emphasized the need for increased cross-border collaboration and training. This, he said, would be particularly beneficial to officers and stakeholders attached to or utilizing Jamaica’s Resident Magistrates Courts, where most cybercrimes are prosecuted, but proceedings are often delayed. This, he explained, is consequent on court personnel’s unfamiliarity with the intricacies associated with cybercrimes.In this regard, he stressed the need for these officers to be sensitized accordingly in order to facilitate smooth and timely disposal of matters.“As we grapple with this increasing problem of cybercrime, it is imperative that we continue to co-operate at the (local), regional, and international levels, with a view to reducing its impact on the prosperity of our citizens and our economies. Our efforts certainly can be enhanced when we find common means to tackle this increasingly problematic issue,” Mr. Robinson contended.The two-day conference, themed “Global Prosperity through an Open and Secure Cyberspace: Opportunities, Threats and Cooperation”, was organised by the South Korean Foreign Ministry and staged at Seoul’s Convention and Exhibition Centre (COEX).It brought together more than 1,600 government officials, civil leaders, and cyberspace security experts from 87 countries around the world. The State Minister also emphasized the need for increased cross-border collaboration and training. There are existing disparities between developed and developing countries in terms of the necessary interventions to effectively counter cyber crimes.
For the Love of Dogs star Paul O’Grady MBE has written to the Lord Mayor of London asking her to put a stop to the archaic and dangerous tradition of herding sheep across London Bridge.In his letter, the comedian, presenter, actor and writer calls on Fiona Woolf to drop the stunt and switch to a more compassionate form of fundraising that would not cause distress to animals.“I am writing to express my deep concern about the sheep who will be herded across London Bridge in a bid to raise money on 5 October, and I wanted to urge you, as the leader of the council, to replace this spectacle with another form of fundraising,” he wrote. “I understand that as Lord Mayor of the City of London, you are historically entitled to the Freedom of the City, a privilege that theoretically affords you the right to carry a naked sword in public, in addition to other equally archaic practices. I am sure that you will agree that these “rights” should not be exercised simply because they can be exercised.“I hope you will agree that sheep are not inanimate props. As someone who has had the pleasure of sharing my home with these wonderful animals, I can tell you that sheep are intelligent and complex individuals. They flock to keep safe from predators. If threatened, they all run together for a short distance and then turn to face the danger as a group. Just like humans, dogs, chickens and most other animals, sheep make different sounds to communicate different emotions, and flock mates recognise each other, even if they’ve been separated for years.“Herding sheep down a very busy London street while cars continue to speed along the road next to them shows a disregard for their welfare and needlessly causes them distress. I have no doubt that you would be able to match, if not exceed, the donations that the previous Lord Mayor received by promoting an event without the use of any animals, and compassionate Londoners would thank you for it.”Sheep are sentient, intelligent and complex animals. A University of Illinois study found that they perform nearly as well as pigs on IQ tests and have demonstrated problem-solving abilities.
Fulham manager Claudio Ranieri is left disappointed after their 1-1 draw with Wolves as they lost their lead in the late stages of the game.After a goalless first half, Ryan Sessegnon put Fulham ahead in the 74th minute, but with five minutes to go, Wolves midfielder Romain Saiss scored from close range after a shot rebounded off a defender.“We are a little disappointed because I think we deserved more from the first half because we created more than them,” Ranieri told the club’s website.“In the second half, after we scored a goal, they found a solution.“I’m satisfied with our performance, as we worked hard against a good team. It was a tactical match today.Premier League Betting: Match-day 5 Stuart Heath – September 14, 2019 Going into the Premier League’s match-day five with a gap already beginning to form at the top of the league. We will take a…“Mitrović had a chance to win the match. In this moment, we need to continue to stay together and be positive.“When a team is bottom, everything goes against this team, but we are stronger than this. We want to react in every circumstance, in every match.“If we continue to fight, train well, understand the tactical movement, we’ll do better.“We try to find a solution, but if you continue to fight, you can change things. If you lose hope, you lose everything.“I believe in my players. For this reason, I believe we can make something good.”
In June, private equity investment firm Wasserstein & Co. announced it was acquiring ALM Media from Apax Partners. It would be the second time Wasserstein has owned the company, which it had built through a series of acquisitions.Apax put ALM on the block in April and the deal closed July 31. Terms were not released at the time and ALM was strangely quiet about the transaction, with any press being handled by Wasserstein.More recently, a source with knowledge of the transaction said the sale price reported by the New York Times—$417 million—is accurate, which puts the EBITDA multiple right around 8x based on $55 million in earnings.Those figures fell short of the reported $500 million Apax was seeking, but it’s still a big sale—albeit 34 percent less than when Apax bought it from Wasserstein in 2007. Especially for a company with legacy roots that has tried to move quickly into a more digitally-oriented business model. Plus, the deal reveals where private equity still finds value in such operations and allows ALM to begin fueling its growth with more capital. FOLIO: How are subscriptions breaking down between print and digital products?Carter: The large firms are all taking pure digital. To counter that we also revamped how we sold to individuals—the smaller firms and attorneys. We have a metered paywall that allows you to read five articles before you hit it, then you get an offer based on what you’ve been reading. We’ve had a significant increase in individual sales and 40 percent of those customers are taking a print/digital bundle from us. So we’re still selling a good bit of print.FOLIO: How have you invested in your technology to support these initiatives?Carter: We use as much off-the-shelf as we can. We’re willing to pay a little more for a premium product. That’s allowed us to easily expand. And going forward it’s becoming easier to pull it out and replace it if it loses its best-in-class. We’re much more in the buy camp, but that doesn’t apply to everything. We do some of our own custom development. During the economic downturn in 2009, ALM became an independent company following a split from Incisive Media. Apax dropped its stake in ALM from 71 percent to 51 percent and the Royal Bank of Scotland took over the remaining 49 percent in a debt-for-equity swap.FOLIO: sat down with ALM CEO Bill Carter, who joined the company in 2012, for an exclusive interview about the sale and what’s in store for the company going forward.FOLIO: How did the deal come together? Why did Wasserstein decide to double-dip?Bill Carter: [Apax] acquired us in 2007 and the deal was reaching the end of its lifecycle. Because of the 2009 restructuring, there were restrictions put on what the company could do and it limited our growth opportunities. It prompted the board to have a discussion on what was right for the company and they began looking for interested parties.Wasserstein emerged because they had the deepest understanding of our revenue streams and they appreciated our challenges.FOLIO: What goes into valuing a B2B media company these days and how is that different from just five or six years ago?Carter: I think the markets are pretty good right now in terms of raising debt, especially if you have a business that’s performing well. Buyers want to look at the stability of your revenue streams and there’s certainly a bias toward subscription revenues and events.There is still a factor that goes into any B2B company that’s being looked at right now and that is how well they held up during the 2008 cycle. Everyone acknowledges a revenue swing. But how big was that swing?We swung a lot less and stayed relatively profitable. We have cyclical and counter-cyclical revenue, which stabilizes things. Scale plays a factor, too.FOLIO: A couple years ago you told FOLIO: you were working on improving ALM through customer growth and renewals, expanding the sales organization and adding more product technology like RivalEdge. How have you evolved that thinking since then?Carter: The biggest initiative that guided us over the last three years has been corporate subscriptions. Historically, ALM had sold to individuals, not to law firms. In 2012, we did an analysis at the top firms and what they were spending with us. We had breadth, but not depth. One lawyer would route his subscription to 20 other lawyers, but it was an individual sale.We set as our goal the top 850 law firms—they should each have one license to all ALM’s products. And we could tailor that content to how they wanted it.To do that we had to re-engineer marketing and sales—bring in sales experts who knew how sell licenses.We also had to completely rebuild the infrastructure. We grew up as a roll-up of acquisitions. Everyone had their own groups. We standardized the websites and print products, but more importantly we standardized the taxonomy. So now we can serve up the content that’s relevant to that user.This was the area that got Wasserstein excited. It cracked a problem they saw in 2005, 2006—how do you get that younger reader?FOLIO: We’re talking digital now, aren’t we?Carter: Yes. When we looked at the lawyers who had the subscriptions and also looked at the online usage we had many more people getting our daily alerts. But they were hitting the paywall. The associates don’t have the ability to make that purchase. So we went to the corporate librarians—younger attorneys are getting the alerts but now they’re reading the content.And that’s why Wasserstein won [the deal]. Wasserstein got that immediately, the other bidders didn’t understand it as much.FOLIO: How have the site license sales been performing?Carter: We’ve had double-digit growth on corporate site licenses. Our circulation counts are way up and our circulation revenue is way up overall. Circulation is all of our subscription brand products, separate from our information solutions, which are also subscription-based.
Girls diagnosed with type 2 diabetes have a high frequency of menstrual irregularities, a study has found. Menstrual irregularities can have a variety of causes, including pregnancy, hormonal imbalances, infections, diseases, trauma and certain medications.Adult women with obesity are known to be at risk for menstrual disorders like polycystic ovary syndrome (PCOS), which can lead to the development of diabetes or other metabolic problems. However, little is known about the reproductive function in girls with youth-onset type 2 diabetes. Also Read – Add new books to your shelf”It’s important for girls with type 2 diabetes to be assessed for menstrual problems,” said Megan Kelsey from University of Colorado in the US.”Infrequent periods can be associated with heavy and painful periods, increased risk for fatty liver disease, fertility problems and long-term increased risk for endometrial cancer,” said Kelsey.The researchers performed a secondary analysis of the data from the Treatment Options for Type 2 Diabetes in Youth (TODAY) study, a research study to find the best way to treat young people with type 2 diabetes. Also Read – Over 2 hours screen time daily will make your kids impulsiveThe new analysis focused on evaluating the frequency of menstrual irregularity in girls with recently diagnosed diabetes and whether the addition of intensive lifestyle or rosiglitazone to previous treatment with metformin helped to improve symptoms.These treatments are often used to treat both diabetes and PCOS.The researchers found that more than 20 per cent of girls in the study had irregular periods. Many of those girls also had high testosterone levels, pointing to PCOS as an underlying cause. Not all the girls with irregular periods had elevated testosterone, suggesting other causes for menstrual dysfunction. Despite two years of intensive treatment with either metformin alone, metformin and lifestyle changes, or metformin and rosiglitazone, the participants still had significantly irregular periods.”Our findings suggest that girls with youth-onset diabetes may need the additional intervention above and beyond to improve their menstrual health.”