Category: sgecenefv

Equifax to update Canadians this week still mum on number impacted by

first_imgTORONTO – Equifax Canada said Monday it plans to provide an update this week on the impact of its massive data breach — nearly two months after it was first discovered — but would not say how many individuals north of the border may have had their personal information compromised.The credit data company told The Canadian Press that it is working with Canada’s privacy watchdog, which announced an investigation into the cyberattack on Friday.“We intend to share an update with Canadians this week that will include how we intend to notify any potentially impacted individuals,” an Equifax Canada spokesperson said in an email. “Our investigation is ongoing and we are committed to sharing an update with Canadian consumers.”Canada’s privacy commissioner said Friday that Equifax has committed to contacting Canadians whose data may be at risk, in writing, as soon as possible, and to provide them with free credit monitoring, a service that was offered to U.S. residents on Sept. 7, the day it first announced the data breach.The company is now facing investigations in both Canada and the U.S., but lawyers say the punitive threat by regulators is stronger south of the border.Equifax, which collects data about consumers’ credit histories and provides credit checks to a variety of companies, has been tight-lipped about the security issue’s impact in Canada.Equifax Canada did not respond to questions about the number of Canadians who may have had their personal information stolen or whether the potential fallout is limited to Canadians with credit files in the U.S.The credit monitoring company’s call centre staff have told callers that only Canadians that have dealings in the U.S. were likely to be impacted by the data breach. However, the Office of the Privacy Commissioner said on Friday that, at this point, it is not clear that the affected data was limited to those Canadians.Equifax said on Sept. 7 that it suffered a massive cyberattack in the summer that may have compromised the personal data of 143 million Americans and an undisclosed number of Canadian and U.K. residents.The credit data company has since said that fewer than 400,000 U.K. individuals may have been affected in the hack that was discovered on July 29.Equifax’s Canadian website says that the personal information that may have been breached includes names, addresses and social insurance numbers.The Federal Trade Commission in the U.S. can issue hefty fines if the credit monitoring company is found to have failed to do enough to protect consumers’ data, but Canada’s privacy watchdog does not have the power to hand down fines, said Toronto-based cybersecurity and privacy lawyer Lyndsay Wasser of McMillan LLP.Instead, the privacy commissioner can make non-binding recommendations and sign an agreement urging them to comply, she added.Tamir Israel, a staff lawyer with the Canadian Internet Policy and Public Interest Clinic in Ottawa, pointed to the hacking of Canadian affair-seeking website Ashley Madison, which paid $1.6 million US to settle with the FTC but was not fined in Canada.However, Wasser said an application could also be made to a federal court — either by the privacy commissioner or by an individual — for a process in which a judge could award damages to those who have suffered as a result of a data breach.The company could also face punitive measures via class actions. At least two proposed class actions have been filed in Canada against Equifax in connection with the data breach.Under Canada’s Personal Information Protection and Electronic Documents Act, personal information should be protected by security safeguards that are appropriate for the sensitivity of the information, Wasser added.However, Canada’s privacy laws do not specify the measures that must be taken and even when a company has been hacked, it may still pass the “reasonableness test,” she said.“That’s the million dollar question: What is reasonable?… Even if they did comply with industry standards, it could still be found that further precaution should have been taken,” Wasser said.On Friday, Equifax said in a statement that the cyberattack occurred through a vulnerability in an open-source application framework it uses called Apache Struts. The United States Computer Readiness team detected and disclosed the vulnerability in March, and Equifax “took efforts to identify and to patch any vulnerable systems in the company’s IT infrastructure.”Meanwhile, changes to PIPEDA that would require companies to notify people in the event of a serious data breach are in the final stages, with the proposed text of the regulations out for public consultation until Oct. 2. But until those come into force, Alberta is the only province in Canada that has mandatory reporting requirements for private-sector companies.Israel said federal breach notification laws are “critical.”“There is going to be a strong internal incentive to make sure you have a very complete PR strategy before you start telling people what’s going on, but people need to know right away.”Note to readers: This is a corrected story. A previous version misspelled Lyndsay Wasser.last_img read more

UNESCO chief voices concern after media outlets in Venezuela lose licenses

“I am deeply concerned over the reduction in the number of outlets through which citizens can exercise their right to receive information from diverse sources,” said UN Educational, Scientific and Cultural Organization (UNESCO) Director-General Koïchiro Matsuura.“The people of Venezuela have the right to benefit from a diversity of perspectives in reports and analyses of events that concern them,” stressed Mr. Matsuura.He added that without a number of media outlets operating in the country, there can be no freedom of expression, or even democracy, and urged authorities “to reconsider their decision to take a great many broadcasters off air, and to protect media personnel from harassment.” According to an order issued in July, another 240 radio stations and 45 television channels are in danger of losing their licenses for alleged breaches of Telecommunication Law, in addition to the 32 radio and two television stations which have already lost the right to broadcast.Mr. Matsuura also noted recent reports of an attack on the headquarters of Globovisión by 30 individuals, led by Lina Ron, head of the Venezuelan Popular Unity party (UPV), who forced their way into the building, throwing teargas which reportedly affected four people. 12 August 2009The head of the United Nations agency tasked with defending press freedom has voiced deep concern today over a recent order to revoke the licences of 34 radio and television broadcasters in Venezuela. read more

UN tribunal suspends Milosevic genocide trial for medical reasons

The Tribunal gave no further explanation, but said in a statement that no trial proceedings would be held on Tuesday and Wednesday. The Trial Chamber is not scheduled to sit on Thursday and Friday.Early this summer, the former Yugoslav President was found to be at severe risk from heart problems, according to a medical report requested by the UN court. The trial judges recommended further treatment for Mr. Milosevic, and requested a report from a cardiologist before they consider further steps to ease any stress on his health.The Tribunal had asked for an independent report on Mr. Milosevic’s health following concerns earlier this year about his illnesses, which have delayed progress in his trial for war crimes allegedly committed in Kosovo, Bosnia and Herzegovina and Croatia.

Transport News Brief – Monday 5 May 2008

Maxon gets a good lift-off The Californian based Maxon Lift Corporation says it had a truly good time at the CV Show. “We saw many high caliber decision makers and we all have now a better feel about the feasibility of our project to re-launching elements of the Ray Smith Group,” said Anton Griessner, VP marketing and business development. “The press conference was in particular worthwhile and we will definitely be back next year.” More from Anton Griessner on +1 (0)5 62 464 4356 or Low pressure tanks to change too The UN working party WP 15 also plans to mandate a new standard for low pressure tanks, EN13094:2008, in ADR 2009. That new standard has yet to be published and covers the construction of tanks subject to a maximum working pressure up to 0.5 bar. Typically these are used for petroleum products. The working party agreed to defer a decision about the start date for the new standard until it meets in October 2008. “In my opinion this is most likely to be from 1 January 2010, but could be as early as 1 July 2009, said Allan McKenzie, senior manager, vehicle legislation at the SMMT. “Once adopted it would prohibit the use of technical codes such as ASME VIII and BS5500 for tank construction.” More from Allan McKenzie on +44 (0)2 073 449 202 or First carbon neutral bus network Stagecoach says it just launched Scotland’s first carbon neutral bus network. In partnership with Scottish charity Global Trees, it will plant 140,000 trees across 60 hectares in Scotland. The aim is to balance 21,500 tonnes of CO2 emissions on its Fife to Edinburgh network, which carries more than 2.4 million passengers a year. The move will make the network carbon-neutral in the next five years More from Steve Stewart on +44 (0)7 764 774 680 or Bosch lifts safety award for third straight year For the third straight year Robert Bosch Limited has won the prestigious International Safety Award from the British Safety Council. The firm won against competition from among 10,000 contenders. More from Chris Wakley on +44 (0) 2 074 948 050 or More chat for dealers says the CV Show launch of its new ‘Chat to Dealer’ messaging service went well. “The service is simple to set up and allows customers to send instant messages to dealers and get an immediate answer – it gets you chat access to van buyers enquiring about your vehicles through the Vansunited website,” said More from on 0845 265 5510 or Success for ATP Advanced Technical Panels says it found the recent CV Show a great success. The firm claims to be the UK’s leading custom-built panel distributor, supplying a comprehensive range of pre-finished and overlaid panels to the commercial vehicle industry. ATP’s exhibition stand incorporated large samples of specialist technical, birch-based plywoods. “We had a great show and this year’s stand was our largest yet which created lots of new leads and potential customers,” said David Briggs, sales manager. “From a product point of view, the Multifloor, Buffalo 6K and Koski-Futura Blue spot on grey leather generated the most interest. We even won new orders at the show, which all in all, was a huge success for ATP.” More from David Briggs on +44 (0)1 924 263 655 or Zeroed “delighted and astonished at CV Show response” Zeroed says it was overjoyed at its reception at the recent CV Show and overall response to its range of electric-powered Isuzu NPR Series Grafters with refrigerated bodies were a big success. The firm can offer Isuzu-based trucks from 3.5t up to 18t in a range including dropsides, tippers, Lutons and fridges. “We were delighted and astonished at the reception we received,” said Martin James, managing director of VMS (Fleet Management) Ltd, one of the three stakeholders in the firm. “We were inundated with enquiries from both fleets and local authorities. We’re progressing them and will respond to them all over the next few weeks.” City trials will start soon, the firm is taking orders, including several from supermarkets and production starts in September. More from Martin James on +44 (0)1 462 734 900 or Kubota hits UK milestone Mini excavator maker Kubota says it just hit a major milestone with UK sales of its machines now topping 30,000. The firm says it is the first manufacturer to do so in the British market. It will celebrate its success by giving the 30,000 machine, worth some £20,000, as a prize in a draw, with proceeds going to the construction industry charity the Lighthouse Club Benevolent Fund. £5.00 draw tickets are on sale at Kubota dealers and stands around the UK this year. More from Richard Harrison on +44 (0)1 844 214 500 or Demand for stop-start grows According to a recent survey, three out of four car drivers say they would buy a car that automatically cuts and restarts the engine in traffic to offer fuel savings of up to 8%. The technology is already in production not widely available. It also offers a parallel cut in CO2 emissions. The survey, by Motorpoint only covered car drivers but the reaction amongst van and light truck operators doing urban work would probably be similar. In practice, the technology – essentially a beefed up starter motor and enhanced engine electronics – stops the engine when the driver comes to a halt and takes the vehicle out of gear. Pressing the clutch automatically restarts the engine. More from Chris Wakley on +44 (0) 2 074 948 050 or Changes soon for high pressure tank makers A UN working party, WP 15, that looks at vehicle legislation just agreed to mandate standard EN14025:2008 for the construction of tanks subject to a maximum working pressure exceeding 0.5 bar eg chemical tanks, vacuum waste tanks. “The adoption of the standard for ADR 2009 means that tank makers will be prohibited from using technical codes as an alternative to CEN standards, said Allan McKenzie, senior manager, vehicle legislation at the SMMT. “The new standard will be mandatory for all tanks made from 1 July 2009. Given the present lead times in the truck and trailer business, this will start to bite very soon, so tank makers need to know the details. More from Allan McKenzie on +44 (0)2 073 449 202 or New on-site service launched LSUK successfully launched its new ‘On-Site Services’ initiative at the recent CV Show. The service offers operators mobile auto electrical and diesel diagnostics, installation, repair and servicing. “It’s supported by a dedicated, 16-strong Toyota Hiace van fleet,” said Stephen Foy, sales and business development manager for On-Site Services. The vans will be equipped as mobile workshops and manned by fully-trained technicians, available to work on-site wherever customers need them, 24 hours a day, seven days a week. “We got a very good reaction, made a lot of useful contacts and gained some very valuable leads.” More from Stephen Foy on +44 (0)7 738 329 721 or RHA welcomes UK block on foreign truckers The Road Haulage Association says it welcomes the news that the UK domestic haulage market will remain closed to trucks from most of Eastern Europe for another year. There were fears that trucks from five countries – Czech Republic, Estonia, Latvia, Lithuania and Slovakia – would have access to the UK market from May 1. But the government has told the European Commission it is closing the door until May 1 2009, when EU law gives mandatory access to those countries, as well as to Poland and Hungary. Whilst pleased with the extended protection for its members, the RHA warns the UK market will be open Eastern European trucks from 1 May 1 next year and that their lower operating costs are a threat to UK truckers. More from Kate Gibbs on +44 (0)1 932 838 917 or Heil celebrates success Leading UK dustcart maker, Heil Europe says it is celebrating ‘unrivalled success’ at this year’s CV Show. The firm showed four vehicles, including one with its new recycling pod and say its team were kept very busy over the three days with enquiries. Importantly it took orders from several councils and contractors for vehicles from across its range. “We had a tremendously successful show this year with a number of firm orders taken and a large quantity of quality leads that we fully expect to become firm orders within the next few weeks,” said Tommy Smith, UK sales manager. More from Jane Olliff on +44 (0)1 326 560 402 or Irish GPS seminar GPS Ireland says it plans a one day seminar on GPS in transport and logistics on Thursday 5 June at the Marriott Johnstown House Hotel, Enfield, County Meath, Ireland. The cost is €100 a head. “With the advent of new detailed road mapping and post coded addresses for Ireland, the seminar will cover the capabilities and benefits of sat nav and tracking systems for organisations running multiple vehicles,” says Gary Delaney, managing director at the firm. More from Gary Delaney on + 353 (0)2 148 329 90 or Scam warning The UK’s Commercial Trailer Association just got an order form from an outfit that calls itself European City Guide. It wanted the CTA to confirm some address details and return the document. “This is written in such a way that if one signs that confirmation, it will be taken as an order worth €987 for what I believe may prove a worthless guide,” said Robin Dickeson, secretary to the CTA. “And for the unwary there is worse to come, because if an organisation signs, that order seems to repeats each year, until actively stopped. Being suspicious I checked and sure enough, I think it’s another scam.” The following website shows that the outfit ‘has previous’: “Don’t get caught. And equally important, if you know people in other organisations that might be targeted, you may wish to pass on the warning.” More from Robin Dickeson on +44 (0)2 073 449 222 or Transport News Brief Week 19, Monday 5 May 2008 They don’t make them like they used to. Daf Trucks says that in 1977, a typical maximum capacity truck, running at 32 tonnes gross, carrying a payload of 20.5 tonnes on a 320 km journey used 130 litres of diesel and put out 16.7 kg of CO2 per tonne of payload. Including a statutory 45-minute break, the journey took six hours and ten minutes. In 2007, a maximum capacity truck running at 44 tonnes gross, carrying a payload of 29.5 tonnes on the same journey used 103 litres of diesel and emitted 9.2 kg of CO2 per tonne of payload. Including the same statutory break, the journey took four hours and 15 minutes. In summary, the 2007 truck used 21% less diesel, carried 30% more payload, emitted 21% less CO2, meaning a CO2/t/km saving of 45% The truck emitted 96% less particulates and 87% less NOX. It was also 33% quicker although working within a lower maximum speed limit. The modern truck also produced one-twelfth of the noise of the older model. More from Martin Hayes on +44 (0) 2 074 948 050 or Electric van cuts Post Office costs The Isle of Man Post Office put a Mega Multitruck ultra-light electric van to work in its 99 strong collection and delivery vehicle fleet last year and cut fuel costs from 17 to less than two pence a mile. The move is part of a pilot scheme to see how the organisation might best run electric as a way of cutting fuel costs and carbon emissions. Malcolm MacPherson, managing director said that new vehicle replaced a car-derived diesel van to give zero exhaust emissions and a 21% cut in fuel costs from 17 to 2 pence a mile. More from Christine Gormley on +44 (0)2 476 407 422 or SMMT services in demand “We had a really good CV Show, with over 30 firms asking about SMMT membership and many more asking about our huge range of services,” said Alison Handley, membership manager for the Society. Whole vehicle type approval, data, legal services and vehicle registration data from the SMMT’s Automotive Data Services team were the main topics, alongside the demonstrations of the Society’s class-leading Automotive Supplier Finder service. “You can bet that we’ll be back at next year’s CV Show, though we’re planning a lot of seminars and other events for the industry between now and then.” More from Alison Handley on +44 (0)2 073 449 210 or “Now you don’t have to run dustcarts illegally” So said Maple Fleet Services to UK councils and private waste collection firms when it successfully re-launched Drivelock at the recent CV Show. This hands-free vehicle immobiliser system allows a driver to leave a vehicle unattended with the engine running and the keys in the ignition. Any unauthorised attempt to move or start the vehicle, immediately locks the park brake, sounds an alarm and cuts the engine. “This means commercial waste collection firms can still be economically viable and run their fleets legally too,” said Jonathan Richards, group marketing manager. More from Jonathan Richards on +44 (0)8 706 062 753 or Silent Approach wins for Gray & Adams At this year’s CV Show Gray & Adams exhibited trailers designed for quiet operation. One of Gray & Adams ‘quiet’ trailers won a prestigious ‘Quiet Delivery Certificate’ from the Noise Abatement Society and Piek. This is for the development of a quiet trailer that meets Piek Standards. Gray & Adams is the only trailer maker and bodybuilder in the UK to win the award. In association with Piek Standards, developed in the Netherlands, the UK’s Noise Abatement Society has introduced ‘Silent Approach’ to encourage the industry to produce and use low-noise vehicles and equipment that operate at under 60dB for night-time delivery. The 10.5 metre urban delivery trailer was purpose-built for Sainsburys and has a retractable Dhollandia ultra-quiet tail lift and a unique, Gray & Adams quiet floor to cut the noise from roll cages. There is a Carrier extra quiet fridge with an encapsulated engine underneath the trailer. More from Laura Dougan on +44 (0)2 890 342 160 or Wireless trailer tracker takes off Asset tracking and key management specialists Keytracker Ltd says its new Wireless Trailer Tracker has attracted “amazing interest” since its launch at the recent CV Show. The battery-operated tracking unit has sparked huge interest from trailer rental companies and trailer users alike, thanks to its long-life battery; this lasts up to two years before being recharged. The unit ‘sleeps’ when not in use, transmitting only every eight hours until moved. It then tracks every minute, just like the standard Keytracker Vehicle Tracker Unit, making it ideal for trailers, plant, caravans and boats or anything that is used and then parked. More from Laura Anderson on +44 (0)1 214 284 200 or Successful launch for Continental Continental says the CV Show proved the ideal platform for it to launch the new VDO Dayton Truck SatNav and the new VDO Mobile Digital Tachograph Download Solution. “The launches of two topical products; the Truck SatNav and the Mobile Digital Data Download Solution at this year’s CV Show were a particular highlight,” said Jackie Dougal, marketing manager. “The show offers which included a free trial of our TIS-Web on-line tachograph analysis service and a daily SatNav giveaway were well received too.” Dougal also said the firm took a lot of valuable leads and has seen more traffic on its website and more on-line sales. More from Lisa McCauleyon + 44 (0)1 213 261 162 or North American hits the million The Stagecoach Group says its budget inter-city coach service has now carried one million passengers in North America. The growing low-cost coach network covers 32 key cities across 17 states since began offering fares for as little a $1 in the United States in April 2006. It successfully attracts commuters, students, business and leisure travellers. More from Steve Stewart on +44 (0)7 764 774 680 or Irish Haulier of the Year Awards 2009 Fleet Transport says its Irish Haulier of the Year Awards 2009 event will be on Monday 6 October 2008 at the Marriott Johnstown House Hotel, Enfield, County Meath. The Awards celebrate excellence in the haulage and road transport industry and the deadline for entries, which are free, is 30 June 2008. “This year, for the first time the ‘Irish Truck of the Year’ and the ‘Irish Haulier of the Year’ awards will both be presented at this national event, bringing together manufacturers and transport operators working the width and breadth of Ireland,” says Jarlath Sweeney, the magazine’s editor. “In all there are 15 categories in the Haulier of the Year competition and 4 classes in the Truck of the Year Awards.” More from Orla Sweeney on +353 (94) 9 372 819 or Record three months for Volvo Volvo Group says that in the three months to 31 March 2008 its growth and operating income set a record for a single quarter. Net sales were Skr 76.7bn (£6.5bn) and the underlying growth was 16% while operating income rose 22% to Skr 6,487m. European truck deliveries rose 22%, to hit 16,819 for the quarter and worldwide, deliveries were up 11% up over the same period. More from MÃ¥rten Wikforss on +46 31 661 127 or Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more

Primary school offer day 2018 More children allocated first choice school due

first_img Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. However, this is now making its way up into secondary schools, and Government forecasts published last month suggest that overall primary school pupil numbers may start to plateau beyond 2020/21. Cllr Roy Perry, vice-chairman of the Local Government Association’s children and young people board, said: “Over recent years councils have created an extra 600,000 new places.This is a demonstrable record that they are doing everything they can to rise to the challenge of ensuring no child goes without a place. The vast majority of councils (82 per cent) said they have seen at least a slight drop in applications this year, while almost one in five (18 per cent) have seen an increase.A breakdown by London borough shows significant differences – with around one in four youngsters missing out in some places.In Camden, 76.6 per cent got their first preference, along with 76.7 per cent in Hammersmith and Fulham, and 76.9 per cent in Wandsworth.Kensington and Chelsea had the lowest proportion of children getting their top choice at 68.3 per cent, meaning just under a third missed out.Barking and Dagenham had the highest proportion of first preferences at 95.3 per cent, Primary schools have seen a boom in pupil numbers in recent years, prompted by a spike in the birth rate in the early 2000s. More children are now getting their first choice primary school because of Brexit, London councils have said.On Monday over half a million families in England were told which primary school their child will attend this autumn, on what is known as “national offer day”.  There were signs that in many areas of the country, a higher proportions of children gained places at their first choice of primary school compared to last year.In London, where competition for places at the top schools is particularly acute, around 1,365 more children got their most favoured school compared to last year.The Pan London Admissions Board, which co-ordinates school admissions in the city, London boroughs received 96,681 applications for primary school places this year which is 2.3 per cent fewer than last year.“Schools had been aware that lower birth rates in 2014 would lead to a smaller number of children starting primary school in London this year,” a spokesman for the Board said.“We believe that high property prices in some areas and the initial effects of the EU membership referendum have also contributed to this easing of pressure at primary level.”Following the Brexit vote, European families have been leaving the capital which has eased the pressure on primary schools, the Board’s spokesman explained.center_img Around the country, 72 per cent of local authorities said they have seen an increase in the proportions of pupils getting their first preference compared to last year, according to a survey by the Press Association. “Every child should have a fair chance of getting into their parents’ preferred school and councils and schools work extremely hard to try and ensure that as many pupils as possible are allocated their first preference.”School standards minister Nick Gibb said: “A good primary school education lays the foundations for success at secondary school and beyond, so it is right that we help make sure every child reaches their potential from the moment they start their education.”That’s why we’re investing £5.8 billion to create even more good schools and good school places – building on the 825,000 we’ve created since 2010 – resulting in 9 out of 10 pupils securing one of their top three choices of schools.”last_img read more

Indias BEML exhibits mining offering in China for the first time

first_imgHomegrown Indian mining equipment manufacturer, Bharat Earth Movers Ltd (BEML) exhibited in China for the first time at the recent 13th China Mining Congress & Expo in Tianjin. BEML was reported in Indian English-language paper The Hindu as stating that it hoped to help China’s mining industry meet its demand for mining equipment, and towards this end launched a number of high capacity machines at the show, including mining dozers and haul trucks, tailored to the Chinese market. However, the company is likely to face fierce competition from Caterpillar, Komatsu, Hitachi and others.“With the increase in mining activity in China, there is a need to deploy higher capacity machines,” said CN Durgesh, BEML’s Director (Mining and Construction) and Board Member, adding: “In China, there is an increased demand for minerals. BEML offers a cost-effective solution to China’s needs.” Vijay Kumar, Secretary, Ministry of Mines for India, said BEML’s launch in China was “a great opportunity” and part of a larger framework of closer cooperation in mining and mining-technology related subjects with China. “Both India and China are growing economies with increasing use of raw materials,” he said. China’s Vice Minister of Land and Resources Wang Min visited BEML’s display at the mining congress, and told Vijay Kumar in talks that he had personally supported the company’s entry into the China market, including helping with the often elaborate registration and clearance processes for heavy equipment. They had both agreed that there was scope for collaborating on survey and mapping, and pelletisation was suggested as an area where Chinese technological knowhow could help India’s mining industry.To date, BEML has mainly had success in its domestic market, most recently with a large order from Coal India announced in September 2011. The deal is with Central Coalfields Ltd (CCL) and Northern Coalfields Limited (NCL), for supply of 100 t and 60 t class haul trucks. However, it has also announced deals for deliveries to Myanmar and Thailand this year. The Thailand order is for a fleet of 21 100 t haul trucks to lignite miner Electricity Generating Authority of Thailand (EGAT), with the Myanmar customer was not specified. In addition, the company is trying to develop business in Africa with the appointment of Ghana Heavy Equipment Ltd (GHEL) as its distributor.last_img read more

SKM to assist Codelco in purchases from China

first_imgSinclair Knight Merz (SKM) has been appointed to deliver site evaluation and qualification of suppliers in China for Codelco, the Chilean State owned company and the largest copper producer in the world, currently. In China SKM provides materials handling engineering design, pre-qualification, procurement, quality assurance, expediting and project delivery expertise to mining, power and energy clients across the company’s global operations. The appointment to evaluate potential suppliers of steel structures and piping to Codelco recognises the value SKM can provide in helping clients to understand and overcome cultural challenges when doing business in China, bridging communication gaps, promoting transparency and helping enforce client safety and quality requirements.SKM’s General Manager, Mining and Metals, Phil Lory said the appointment of recognised the company’s proven experience in helping clients fast track their projects whilst maintaining safety and quality standards. “Now with some 70 staff employed to undertake procurement services, inspection and fabrication management in China, SKM continues to expand, with the team also overseeing projects in neighbouring countries including South Korea and Thailand.“We continue to provide quality assurance and expediting services in China for iron ore projects in the Pilbara region of Western Australia for BHP Billiton and Rio Tinto, fabrication of conveyor gantries for Xstrata South Africa as well as overseeing hydro-electric plant fabrication for Hydro Chile, ensuring expectations and requirements are fully understood by local fabricators,” Lory said.This latest appointment by Codelco adds to the significant range of integrated services SKM continues to deploy in delivering Codelco’s El Teniente New Mine Level and Andina Expansion projects in Chile, and the many other projects which SKM has delivered for Codelco over the past 40 years.last_img read more

Around View Monitor and Moving Object Detection systems from Nissan and Clarion

first_imgNissan Motor Co Ltd has announced that it has licensed its Around View Monitor and Moving Object Detection (MOD) technology, jointly developed with Clarion Co Ltd, for use by Hitachi Construction Machinery. These two innovative systems are the building blocks of autonomous driving technology that will operate commercially-viable Nissan Autonomous Drive vehicles by 2020.The Around View Monitor (AVM) is a parking support system that offers the driver a bird’s eye view of the vehicle’s surroundings in real time using four exterior cameras. MOD is a driving assistance technology that analyses the images from the AVM cameras to detect moving objects around the vehicle and warn the driver with visual and audio alerts. Since the market launch of AVM in 2007 and MOD in 2010, both firsts for any automaker, Nissan has steadily expanded its safety technology offerings, which it says “have become a cornerstone of autonomous drive technology development.”The licensing agreement enables Hitachi Construction Machinery to provide AVM and MOD technology to its mine haul trucks and hydraulic excavators working in large open pit mines. When drivers start operating the vehicle, drop cargo, back up to load cargo, or when a hydraulic shovel is used in close proximity to the vehicle, the AVM-MOD technology detects any movement or workers in the area around it in real time, enabling the driver to work with greater situational awareness which enhances safety.Nissan “will contribute to the growth of technology through the application of its unique technologies and know-how for its own use as well as in a variety of fields. Profit generated through the effective use of these intangible assets will be invested in new technology development, further contributing to Nissan’s technological competence.” Autonomous Drive is being developed to help lower the element of human error during driving and contribute to a reduction in the number of accidents and injuries related to automobiles. “The licensing of this technology is an example of Nissan’s intention to offer the AVM and MOD technology to other industries beyond the automotive sector. Through the wider application of its safety technologies Nissan aims to do its part in contributing to the development of society.”last_img read more

Potash outlook 2017 oversupply and demand

first_imgFor the potash sector, 2016 has been a bit of a challenging year in terms of price and oversupply. Current prices for the fertilizer are sitting at $224/t in the US Corn Belt, while prices in Brazil are flat at $237/t, with standard MOP prices at $243/t, reports Investing News Network (INN).“That said, potash prices across all three have tapered off significantly throughout 2016–although it did find some stability later in the year.”Overall, prices are down approximately 16% since last year, but the Economic Calendar suggests “producers are cautiously optimistic” moving into 2017. The chart shown is indicative of potash’s price movement over the year.Unfortunately, oversupply has been a common theme in the potash sector in recent years. Since 2013, the fertilizer has been impacted by increasing competition following the breakdown of the partnership between Uralkali and Belarusian Potash Co, says INN. As such, global oversupply of the fertilizer continues to hurt the market–and its price–resulting in layoffs and mine closures in the sector.Potash projects are covered in International Mining Project News (published fortnightly) whenever there is news – ask for more information on a subscription.For example, PotashCorp – the world’s largest producer of the fertilizer in capacity – announced in November that it would be stopping production for three months at its Cory facility beginning in February 2017, laying off 140 employees. Mark Fracchia, the company’s President, said the temporary closure will be done to “optimize production to our lowest cost operations,” which includes the Rocanville site.In the same release, PotashCorp announced that its Lanigan facility will shut down for six weeks beginning in January, while its Allan facility will shut down for 12 weeks starting in February. The announcement came after the company had previously agreed to merge with Agrium to create an integrated global supply of crop inputs.Back in July, over 300 workers were laid off from Mosaic’s Colonsay, Saskatchewan potash mine, due to “challenging potash market conditions.” That said, production is expected to resume in January 2017.Robin Phinney, President of Karnalyte Resources said that with many junior potash companies disappearing, ones that had the money to survive were lucky. “I was amazed how easy India and China completely destroyed our capital markets for our senior producers of potash,” he told INN. “This should be a lesson learned in the future.”However, not all was lost in 2016 for the potash sector, as some companies did see progress.Mike Ferguson, president and CEO of Gensource Potash, told INN 2016 was a “very big year” for the company. In particular, Ferguson told us that the company acquired a new mineral lease in Saskatchewan and signed an offtake agreement for the full planned production from one of its small scale facilities.What’s more, Gensource entered into a memorandum of understanding with Essel Group Middle East, which Ferguson said will “pave the way to financing the entire construction of the first facility.”Moving into 2017 and beyond, the potash outlook appears to be much of the same in terms of oversupply, and an increase in demand. Kevin Stone, Senior Advisor with Natural Resources Canada, said at the 2016 Fertilizer Outlook and Technology conference in November that despite overproduction, the industry is “operating as it has for all but one of the last 15 years.”Potash demand is expected to grow 2.3% from now until 2020, and could grow as high as 36.5 Mt by the same year, Stone said.On that note, the announcement in December 2016 that Mosaic agreed to purchase Vale SA’s fertilizer assets for $2.5 billion looks to be hopeful for 2017 also. Under the deal, Mosaic will obtain ownership of Vale’s potash assets in Brazil, and a potash project proposed in Saskatchewan currently in limbo.While the deal isn’t expected to be completed until later in 2017, potash production in Saskatchewan–notably the world’s largest producer of potash–is poised for a liftoff in 2017.Additionally, Mosaic’s K3 potash mine is expected to begin operations, with the capacity of 21 Mt ore by 2024, and K+S Legacy is expected to begin production at its new mine in the second quarter of 2017.As noted by Ferguson, Gensource will begin construction of what he says is the first modern potash production plant.While Canada is the leading supplier of potash, Stone said production overseas could increase in 2017 as well, particularly from Russia. Stone explained that Russian potash facilities operate at 90% capacity, versus 65% in Canada, which is why he said production could increase from 2017-2020.In China, Stone said production is expected to rise to 11 Mt, while domestic demand will increase slightly over the next five years or so.With production ramping up next year at some key projects, the potash outlook for 2017 is looking more hopeful than 2016. As such, investors will surely be keen on how the projects develop in 2017 and the years following.last_img read more

21 unmistakeable signs youre a Northside Dubliner at heart

first_img1. Your house contains at least one object bought in Guiney’s Source: Sam Boal2. You know this fair lady well Source: YouTubeIf you don’t have one in your window, you definitely know someone who does.3. You’d swear by the Guinness in The Gravediggers Source: Stéphane Moussie4. You can name at least three shops in the Northside Shopping Centre Source: Google Maps5. You went to the Silver Skate in Phibsboro as a kid The refreshment kiosk at the Silver Skate, Halloween night 1986 Source: Cliff Saunders/NiteStar626. JC’s supermarket in Swords has a special place in your heart Source: Twitter/JCSavages7. Henry Street > Grafton Street Source: infomatique8. You know the hidden beauty of the Blessington Basin Source: infomatique(And how to find it.)9. You feel obliged to roll your eyes when Southsiders say things like Source: ShutterstockAlternatively “You’re very well-spoken for a northsider!” or “I was in Clontarf once, it’s actually, loike, nice!”10. Although to be honest, it was ages before you figured out the difference between Rathmines, Rathgar and Ranelagh Source: infomatique/sjeacle11. And the first time you were ever in Dundrum was to see the new shopping centreYou immediately thought: Source: infomatique12. You know where the gang goes Source: papabergindy13. There’s no place quite like Dollymount Strand Source: lennox_mcdoughBonus points if you’ve surfed the ferry waves there.14. You may not like U2, but you’re still a tiny bit glad they’re from the Northside Source: Photocall Ireland15. You can recite The Snapper pretty much by heart Source: gordondowling16. You drank cans (or naggins) before heading to The LawnOr the Cricket Club in Clontarf: Source: playthatbeat17. You have an undying loyalty to one of the multiplex cinemasAnd know which bus to get there. Source: D464-Darren Hall18. You’re not happy that the Phoenix Park doesn’t have an odd postcode number19. A childhood trip to town rarely involved crossing the Liffey Source: infomatiqueBoyers, Clerys, Arnotts, Roches Stores, home.20. It’s important to you that you were born in the Rotunda Source: Mark Stedman/Photocall IrelandBonus points if your dad wet the baby’s head in Conway’s across the road. (RIP Conway’s.)21. And finally, having the most Christmas lights around your house is a sign of affluence. Source: Sasko LazarovNORTHSIDE FOR LIFE.(Don’t worry Southsiders! We’ll be looking at you, our ancient foes across the river, tomorrow.)18 things every Dubliner knows for sure>11 reasons why Cork might actually be better than Dublin>13 things you know for sure if you’re from Galway>last_img read more

uTorrent web servers compromised Windows app replaced with fake antivirus

first_imgIf you use BitTorrent, then chances are you have either downloaded and used, or had the uTorrent application recommended to you. It’s a very lightweight, user-friendly, and a fast piece of software for downloading and managing your torrents.Unfortunately, yesterday uTorrent’s web servers were compromised by a hacker. This happened at 4:20am PST, and uTorrent’s web server team didn’t take the hacked server offline until 6am PST. The problem is, the hacker replaced the uTorrent Windows client with a fake antivirus executable. So anyone who downloaded the client during that 1 hour 40 minute period was actually downloading malware unknowingly.The malware in question is called Security Shield, and is a well-known rogue anti-spyware program. It will pop-up a professional looking app screen on your desktop that lists fake infections after doing a fake scan. It then offers to remove them if you pay for the full-version of the “security suite.”If you were unlucky enough to visit and download the Windows client during the infected period, then you’ve probably already seen the Security Shield software pop-up and run on your machine. You need to remove it asap, and there’s a good guide over at telling you exactly how to go about doing it.uTorrent has now apologized and managed to get their servers back online after removing the rogue files. If nothing else this should act as a reminder to everyone to ensure any files you download from the Internet are scanned with a reputable security scanner before being run, as clearly you can’t trust legitimate sites all of the time.Read more at the BitTorrent bloglast_img read more

Tributes pour in for Grainne ODonnell the 20yearold UCC student who died

first_imgTributes pour in for Grainne O’Donnell, the 20-year-old UCC student who died from meningitis From her hometown in Co Tipperary to classmates at UCC, tributes have flowed in for the 20-year-old. Image: RIP Office Short URL Saturday 18 Feb 2017, 12:51 PM The SuperValu in Cahir, where she worked, will close tomorrow between 11am and 1pm when she will be laid to rest.A post from Supervalu Dolans Cahir said that “Grainne was a very popular member of our staff and had a fantastic attitude towards work and customers alike. [She] will be sorely missed.” “When someone you love becomes a memory the memory becomes a treasure”; you have left us all with an abundance of wealth. 46,619 Views By Sean Murray Grainne O’Donnell died earlier this week from meningitis Grainne O’Donnell died earlier this week from meningitis Image: RIP Office Source: FacebookThe local GAA team have also called off a match tomorrow as a mark of respect, and the annual Cahir Tidy Towns quiz was cancelled, with the group offering their sympathies to the O’Donnell family.University College Cork also offered its sincere condolensces to the bereaved family, friends, classmates and staff who had known the 20-year-old.It is also indicated that information and advice from the HSE had been distributed to all students regarding the disease, after a number of calls were made to the Meningitis Research Foundation in the last few days.Meningitis is the inflammation of the lining around the brain and spinal cord. It shares many of the symptoms of other, more common, everyday illnesses such as the flu or even a hangover.A spokesperson for the Meningitis Research Foundation said: “We want to make the public aware of the symptoms of meningitis so if anyone would like any further information or feels that they could benefit from talking to someone please call our Dublin office on: 01 819 6931, our free-phone helpline on: 1800 41 33 44 or visit our website“.Read: UCC student dies after contracting meningitis 11 Comments Share Tweet Email Tweet thisShare on FacebookEmail this article Feb 18th 2017, 12:51 PM TRIBUTES HAVE BEEN pouring in for Grainne O’Donnell, the 20-year-old student who died from meningitis on Thursday.She was originally from Cahir, Co Tipperary, and had been studying at University College Cork.Friends, family and work colleagues have led tributes to Grainne on social media.She survived by her parents, her sister, three brothers and a large extended family.People spoke of Grainne’s kindness and warmth while paying tribute.One said: “You have touched the lives of so many with your genuine kindness and love. I feel so blessed to have shared such an incredible experience with you and I will forever cherish all of the beautiful moments.”Another said: “You always showed me nothing but kindness and unconditional love, you were a credit to your friends and your family and what everyone should aspire to be.last_img read more

Scientists Have Invented Moss That Smells Like Incense

first_img Biotech startup Taxa has had a bit of a rough time the past couple years. Back in 2013, the company launched a Kickstarter for genetically engineered plants would glow at night, cutting street lamp electricity costs tremendously. Then, earlier this year, the company announced that the project was dead.Now Taxa’s back with bio-engineered moss that comes in a few different scents — patchouli, linalool (a floral scent), and geraniol, which is a little bit rosier. Each of them is made by splicing specific genes into moss, which not only can grow basically anywhere, but can do so in a liquid. Without roots or major plant structures, moss isn’t bound by most plants’ limitations. It just grows. Basically anywhere.That’s the idea behind Orbella, Taxa’s mini-terrarium. Grow a starter culture in a lab, pack it up, and let it keep growing, producing mild scents. Right now, the focus is on getting stronger scents, which could put it on the same tier strength-wise, like a scented candle. Not enough to fill up a room on its own, but enough to give a fragrant background to whatever. And, while the company admits it hasn’t done testing beyond a few months, it should continue to survive for as long as you care for it. It’s moss, after all. Down the line, though, it’s feasible that one of these terrariums could fill up a whole room. Just add sunlight.Right now an Orbella will run you about $80. But it seems like this stuff was practically made for me. My room always smells like incense anyway, and I spend… we’ll say more than I should on-air freshers, fragrances, perfumes, and oils. Plus, I’m basically a hippie anyway, so I am this company’s target market.If you do choose to take the dive (like I might on payday), then you’ll also get a few emails intended to take some of the ominous mystery out of the process of genetic engineering. Before you even ask, yes, it’s safe, as most genetically modified organisms are. Taxa believes that GMOs could be key to achieving a sustainable future. All packaging for Orbella is sent in bio-degradable material that you can just compost in your garden if you need to.“We’re interested in sustainability,” CEO Anthony Evans told Gizmodo. “Eventually everything we produce will be produced biologically.”That’s still a way down the road yet, though. Taxa is open about its current business strategy: “With every purchase of Orbella Fragrant Moss, you support our research into cleaner ways to make things with plants,” You’re basically making an investment in the company, and, to help acknowledge that, Taxa also runs promotions that will continue providing you with those more powerful scents as soon as they’re made for free. There’s always the risk they may never come out, but at least you’ll still have your own growin’ moss. Plus, nobody said biotech was easy.Evans hopes that his company will keep expanding so that it can one day push larger and sustainability initiatives.“We hope that our products positively change the public’s perception of GMOs and inspire a new generation of bioengineers to create a greener future for us all,” the site reads.Let us know what you like about Geek by taking our survey. Stay on target Watch: Dolphin Leaps Feet Away From Unsuspecting SurferNASA Says 2 Asteroids Will Safely Fly By Earth This Weekend last_img read more

Ric Flair added to WWE live events in December

first_img Jason Namako RELATED ARTICLESMORE FROM AUTHOR Twitter Google+ WhatsApp Videos Articles Now Playing Up Next WWE Lists The Shields Top 10 Wins Now Playing Up Next Ronda Rousey Glenn “Kane” Jacobs’ autobiography “Mayor Kane” to be released on November 26 Now Playing Up Next Roman Reigns: Leukemia Is In Remission Glenn “Kane” Jacobs will not be appearing at WWE Live Events despite being advertised WWE Hall of Famer Ric Flair has been added to a number of WWE live events in December according to a report by Dave Meltzer. Flair will be working as a special guest referee for matches between Roman Reigns against Kane on those live events he is scheduled for. In an update on Reigns, he has now been advertised for WWE live events in mid-December and is expected to appear back on WWE TV in a few weeks. Source: The Wrestling Observer NewsletterRecommended videosPowered by AnyClipWWE Lists The Shields Top 10 WinsVideo Player is loading.Play VideoPauseUnmuteDuration 0:30/Current Time 0:08Loaded: 100.00%0:08Remaining Time -0:22 FullscreenUp NextThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Replay the listcenter_img Pinterest Roman Reigns Is Back, But Not Fighting For Belts Shawn Michaels Now Playing Up Next Now Playing Up Next Roman Reigns is in Remission WWE Will Air Roman Reigns Documentary Facebook Videos Articles Seth Rollins Videos Articles CMLL World Lightweight Champion Dragón Lee to debut at MLW December eventslast_img read more

Overseas Territories welcome New Forum on Brexit

first_img ALERT # 2 ON POTENTIAL TROPICAL CYCLONE NINE ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY THURSDAY 12TH SEPTEMBER, 2019 AT 9 PM EDT #MagneticMediaNews Related Items:#magneticmedianews Recommended for you Electricity Cost of Service Study among the big agenda items at September 11 Cabinet meetingcenter_img Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppLondon, England, February 9, 2017 – The UK’s exit from the European Union will not hurt relations with the Overseas Territories and when negotiations ensue, the UK promises the territories’ interests will be remembered at the bargaining table.These are two main themes which have come out of a special convening of UK Overseas Territories in London early this week with the Foreign Minister, Baroness Anelay and Minister for Exiting the European Union, Robin Walker.The Governor’s Office reported that Territory leaders, welcomed the new forum which was explicitly designed to discuss the impact of Brexit on OTs.  Premier, Hon Sharlene Robinson and Governor, His Excellency, Dr John Freeman represented Turks and Caicos as among 10 countries at the meeting.It was said by Rt Hon Anelay that, “I…  am keen to build on this early positive engagement to ensure the deal the UK Government ultimately negotiates, works for all.”   A White Paper along these lines has already gone to British Parliament.   It was the first meeting of the new forum. The Luxury of Grace Bay in Down Town Provolast_img read more

Police Scooter driver fatally struck by 2 cars and tractor trailer on

first_imgHOLLYWOOD, FLA. (WSVN) – The driver of a motor scooter was fatally struck by two vehicles and a tractor trailer, Friday morning, on Interstate 95.According to FHP officials, the driver of the scooter was traveling northbound on I-95, near Stirling Road, when he was hit from behind by a car. The scooter’s driver was quickly ejected and landed onto the roadway where he was then struck by a tractor trailer. Another vehicle hit the victim shortly afterwards.Police said the driver died on the scene. He was later identified as 47-year-old Willie Hill.All lanes were shutdown in the area at 3 a.m. for the cleanup process.As of 11 a.m., the lanes reopened and traffic began flow normally.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.last_img read more

Two unprecedented earthquakes shake YK Delta coast

first_imgTwo earthquakes struck about 45 miles offshore from the community of Hooper Bay on October 23, 2018. The first quake registered a magnitude of 4.9 and hit at 10:42 p.m. The second quake registered a magnitude of 3.6 and hit at 11:12 p.m. (Image credit UAF Alaska Earthquake Center)In an unprecedented event, two earthquakes shook the coast of the Yukon-Kuskokwim Delta Tuesday night. The quakes hit about 45 miles offshore from the community of Hooper Bay, and seismologists are looking closer at the unusual temblors.Listen nowEarthquakes are common in Alaska; dozens are registered each day. Seismologist Michael West with the UAF Alaska Earthquake Center says that his team often knows where to expect them and why they are occurring.“In some senses, unless they’re big, we kinda yawn,” West said.But they had a different reaction Tuesday night when two quakes shook communities along the Yukon-Kuskokwim Delta coast. West’s response: “Where the heck did that come from?”Earthquakes are rare in Southwest Alaska, and quakes have never been recorded anywhere within a hundred miles of where these two struck. The first quake registered at a 4.9 magnitude and hit at 10:42 p.m.“We would consider that to be the main shock,” West noted.The second quake was less powerful, registering at a magnitude of 3.6 and hitting a half hour later at 11:12 p.m.“Based on its location and timing,” West explained, “we would consider that to be an aftershock.”Early evidence suggests that the quakes align with faults that lie several hundred miles to the east of the epicenter, offshore from the Delta.“But that’s kind of a long way to extrapolate,” West said, “so we’re going to spend a little time looking into this one.”People living in coastal Yukon-Kuskokwim communities felt both quakes as minor tremors, and nobody has reported damage or injury. Jan Olsen was just sitting down to watch TV in Hooper Bay when he felt his house move.“And I thought somebody was coming up the steps and shook the house,” he said.But no one came in the door. Olsen has little kids, and thought one of them might have been jumping on a bed. Then the VHF crackled.“We started hearing on the radio, ‘Did anybody feel that? Is that an earthquake?’” Olsen said.In Mekoryuk on Nunivak Island, Amanda Shavings had a similar experience at home with her husband.“We were just sitting down,” she said, “and I started rocking, or my couch started rocking.”At first Shavings thought the house was shaking from the strong winds that blow across the island, but those shudders are short, and this movement kept going.“I looked over to my husband, thinking he might have been pushing, playing around with the couch,” Shavings explained. “But when I looked at him, I could see him shaking.”They realized what was happening. Immediately, Shavings and her husband searched the web for a tsunami warning. None appeared. Meanwhile, Facebook started filling up with posts about the quake.Shavings works for the Mekoryuk tribe, and one of her duties is to create an emergency plan for the community. Including earthquake response has now become a priority.Original Story: In an unprecedented event, two earthquakes shook the coast of the Yukon-Kuskokwim Delta Tuesday night. The quakes hit about 45 miles offshore of the community of Hooper Bay.People living in coastal Yukon-Kuskokwim communities report feeling both quakes as minor tremors, and no damage or injury has been reported.Earthquakes are a daily occurrence in Alaska, but not in this area. Seismologist Michael West with the UAF Alaska Earthquake Center says that these quakes are the first to be recorded within 100 miles of where they struck.The first quake registered a magnitude of 4.9 and hit at 10:42 p.m. The second quake was less powerful, registering at a magnitude of 3.6 and hitting a half hour later at 11:12 p.m.last_img read more

JM Financial Mutual Fund fixes September 24 as record date for dividend

first_imgInvestors of two schemes of JM Financial Mutual Fund will be receiving dividend on their units for which the fund house has fixed Sept. 24 as the record date. It will be paying up to Rs. 2.25 per unit as dividend on JM Balanced Fund (Direct) under the quarterly dividend option. Unit holders of JM Arbitrage Advantage Fund will be paid up to Rs. 0.05 per unit under dividend and direct-dividend options. On September 19, 2016, the net asset value of JM Balanced Fund (Direct) dividend option was Rs. 29.27 per unit while that of JM Arbitrage Advantage Fund (dividend option) was Rs. 10.46 per unit and JM Arbitrage Advantage Fund (direct dividend option) was Rs. 10.81 per unit.Indian stock markets ended in the red on Tuesday, reversing the winning streak of four straight days. The BSE Sensex closed 111 points lower at 28,523 while the NSE Nifty ended at 8,775, down 32 points from its previous close.Top Sensex losers were Hero Motocorp, Adani Ports and Bajaj Auto.Foreign institutional investors (FIIs) were net sellers of Indian equities worth Rs. 1,147 crore on Tuesday while domestic institutional investors (DIIs) were net buyers of stocks worth Rs. 772 crore, according to provisional data released by the National Stock Exchange (NSE).Mutual funds have been net buyers of Indian equities on stock markets in the past few days, reversing their position earlier. They bought Indian stocks worth about Rs. 13 crore on Monday after closing their position as net sellers at Rs. 172 crore last Friday.last_img read more

James Murdoch rumoured to replace Elon Musk as Tesla chairman

first_imgMurdoch could not immediately be reached for comment. Tesla did not respond to a request for comment. Twenty-First Century Fox declined to comment.Musk is the public face of Tesla, and any chairman would have to contend with his powerful personality. Thanks to his vision and audacious showmanship, Tesla’s valuation has at times eclipsed that of traditional, established U.S. automakers with billions in revenues and the company has garnered legions of fans, despite repeated production issues.”The question when it comes to James Murdoch is, ‘Is he the guy who’ll be able to establish that level of authority with Elon Musk?'” asked Abby Adlerman, CEO of Boardspan, a corporate governance consulting company.Investor concerns that Tesla’s board was too closely tied to Musk led to the company’s addition of two independent directors, including Murdoch, in July 2017.Earlier this year, leading U.S. proxy advisers Glass Lewis & Co and Institutional Shareholder Services, and union-affiliated investment adviser CtW Investment Group, had recommended investors cast votes “against” the re-election of Murdoch as a Tesla director at the company’s annual meeting held on June 5.While CtW cited a lack of relevant experience and a “troubled history as an executive and director,” both proxy firms warned that Murdoch already served on too many boards.He stepped down from the board of Sky Plc on Tuesday following the completion of Comcast Corp’s takeover of the broadcaster.Murdoch was forced out as chairman of Sky, then BSkyB, in 2012 after being embroiled in Britain’s phone-hacking scandal. He returned to Sky’s board in 2016 after rebuilding his career at Fox.Glass Lewis research director Courteney Keatinge said on Wednesday that while Murdoch’s departure from Sky could alleviate some concerns, the Tesla chairmanship would still require a big time commitment as the company faces pressures on many fronts.”I would still have reservations about the time he would be able to allot to this,” Keatinge said.According to the FT report, external options were still being considered.Considering a broad choice of candidates was important, said Dieter Waizenegger, executive director of CtW Investment Group, because “Investors should really be wary about the board making the easy choice here” in opting for Murdoch.Murdoch is set to be succeeded by his brother Lachlan Murdoch as Twenty First Century Fox chief executive officer, after the media group completes the sale of bulk of its assets to Walt Disney.’STABILITY AT THE TOP’Tesla faces a crucial moment as it struggles to produce its Model 3 sedan in large volume and deliver it quickly to customers amid an ongoing cash crunch that has concerned some analysts. Musk has vowed that the loss-making company will be profitable and cash flow-positive in its third and fourth quarters.Concerns about Musk due to production delays and manufacturing challenges have been exacerbated by a series of damaging actions, including Musk insulting analysts on a conference call, calling a British cave rescuer a pedophile, and joking on April Fool’s Day that Tesla was going bankrupt.Shares are down 20 percent since the beginning of the year.”Elon Musk is building a great company but has been erratic to say the least when it comes to thinking about his investors,” said Chaim Siegel, an analyst at Elazar Advisors. “The company needs some added stability at the top to win back investor confidence.”Under terms of the SEC settlement, Musk is not permitted to be re-elected to the chairman’s post for three years. Tesla is also required to appoint two new independent directors to its board.With U.S. stock markets broadly lower, Tesla shares closed down 2.3 percent at $256.88. SpaceX CEO Elon Musk speaks at the International Astronautical Congress on September 29, 2017 in Adelaide, AustraliaGetty imagesOutgoing Twenty-First Century Fox Inc Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc chairman, the Financial Times reported on Wednesday, but Musk in a tweeted reply to the newspaper said, “This is incorrect.”Tesla has until Nov. 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and U.S. regulators in the wake of Musk tweeting in August that he had secured funding to take the electric car maker private.The SEC settlement capped months of debate and some investor calls for stronger oversight of Musk, whose recent erratic public behaviour raised concerns about his ability to steer the money-losing company through a rocky phase of growth.The U.S. Securities and Exchange Commission, which said Musk’s tweeted statements about going private were fraudulent, allowed the billionaire to retain his role as CEO while requiring he give up his chairmanship.Musk had said he was considering taking Tesla private at a price of $420 a share, a number that is slang for marijuana. He tweeted the three-word denial of the Financial Times story, on Wednesday at 4:20 pm PT (2320 GMT), about six hours after the newspaper’s post.In a vote of confidence for Musk, shareholder T. Rowe Price Group Inc said in a regulatory filing on Wednesday that it had raised its stake by nearly half to 10.2 percent at the end of September from just under 7 percent in June.The Financial Times cited two people briefed on discussions saying Murdoch was the lead candidate for the job.Murdoch, already an independent director of Tesla, has signalled he wants the job, the report said.The son of Fox mogul Rupert Murdoch, he joined Tesla’s board last year after years of work with media companies. He has no experience in manufacturing and has never led a company that makes cars or electric vehicles.last_img read more

Obama Calls Trumps Decision To Leave Iran Deal A Serious Mistake

first_imgPhoto by Benoit Tessier/Reuters/PBS NewsHourFormer U.S. president Barack Obama speaks at a conference during his first visit to France since he left the White House, Paris, France December 2, 2017. The session, organized by an association called “Les Napoleons” is hosted by Orange CEO Stephane Richard. REUTERS/Benoit Tessier – RC1299EF4EF0Former President Barack Obama is calling President Donald Trump’s decision to pull out of the Iran deal a “serious mistake” that will erode America’s global credibility.Obama’s administration brokered the deal. He says Tuesday that Trump’s decision to withdraw is “misguided,” especially because Iran has been complying.Obama also warned: “The consistent flouting of agreements that our country is a party to risks eroding America’s credibility, and puts us at odds with the world’s major powers.”Obama says that without the deal, the U.S. “could eventually be left with a losing choice between a nuclear-armed Iran or another war in the Middle East.”He says the deal remains a model for what diplomacy can accomplish, including when it comes to North Korea.There are few issues more important to the security of the US than the potential spread of nuclear weapons or the potential for even more destructive war in the Middle East. Today’s decision to put the JCPOA at risk is a serious mistake. My full statement:— Barack Obama (@BarackObama) May 8, 2018 Sharelast_img read more