MERGERS

first_imgAlpitour/FrancorossoThe move by Italian car and engineering company Finanziaria di partecipazioni SpA (IFIL), which belongs to the group IFI and the Isoardi family, to gain joint control over tour operator Alpitour was notified to the Commission on 23 December 1997 (OJ C10/6, 15 January).NEC/Bull/PBNNEC Corporation of Japan and France’s Compagnie des Machines Bull (Bull) notified their plan to acquire joint control of Packard Bell NEC Inc (PBN) to the Commission on 6 January 1998. All three firms are involved in the manufacture and distribution of computers (OJ C10/7, 15 January).last_img read more

Markets issue warning over Bolkestein’s disclosure plans

first_imgHe repeated the gesture this week, inviting industry to have its say in broader investment services rules. But such flattery of the EU’s sanguine stock market community – one of the recommendations of Baron Alexandre Lamfalussy in his report on new EU securities legislation – will get the Commission nowhere. What matters is whether the executive actually listens to industry leaders’ concerns – already they say some of the notes in Bolkestein’s 17-page plan are decidedly off-key. The main logic of the proposals should be universally lauded, says Dirk Pirez, general counsel and company secretary for Nasdaq Europe – the Brussels-based arm of the tech-dominated US market. “The European capital markets are highly fragmented with 34 regulated exchanges, and even more public and self-regulatory organisations across Europe,” he says. “A harmonisation of disclosure standards in Europe should strongly be encouraged.”Nevertheless, dissenters say some of the changes in the reporting rules could spell more red tape for firms and less power for the markets. Gregor Pozniak, deputy director-general of the stock market lobby FESE (the Federation of European Securities Exchanges) agrees with Pirez that the broad lines of the proposals are welcome. But he says the ‘one size fits all’ approach to reporting rules could impose extra burdens on firms listed in so-called second-tier markets where rules may be deliberately more relaxed to encourage small companies on-board. A case in point, say industry insiders, is the London Stock Exchange – its successful Alternative Investment Market (AIM) is attracting a clutch of new companies every month with its “specially tailored entry rules to suit growing businesses”.Nasdaq Europe’s Pirez says his market’s players must all surpass the Commission’s information benchmark. For example they must already provide quarterly results containing not only a balance sheet, but also a profit-and-loss statement, details on the bankruptcy of any subsidiaries or associates, and “other events or information which the issuer deems to be of material importance to holders of financial instruments”. However, he says the Commission’s plan to empower separate public regulators at the expense of the markets could hurt exchanges which sell themselves on the extra strength of their tough rules and enforcement. There is still scope, he insists, for self-regulation alongside rules mandated and policed by public authorities. “Exchanges, as commercial companies, have a commercial interest to protect their ‘brand’ and reputation, and cannot leave issues of integrity, security and fairness solely to local regulators,” he says, adding that stock markets could achieve the goal of harmonisation perhaps faster by developing their own European self-regulatory standards. Pozniak doubts whether some regulatory bodies would be near enough to the markets to be effective at policing the new rules – a gripe voiced by FESE over the recent proposals on market abuse. “If you are shooting from a distance with a cannon you are not likely to hit a rabbit,” he says, adding that markets should, if they chose to, have the right to operate their own procedures to check up on members.Delve deeper into the text and another gripe is the likelihood that interim results could be subjected to a mandatory external audit by a firm of auditors – albeit less stringent than the annual audit. Many companies already opt to bring in the external auditors, adds Pirez. But for those who do not, the additional yearly costs of this requirement could easily mount to 250,000 euro or more. FESE’sPozniak hopes Bolkestein will take account of the critical views en route to his officials’ e-mails between now and the 30 September deadline for comments. He is not counting on it, however. “I don’t want to spoil the impression that this consultation is a big step forward. But there have been bad experiences in the past.” He adds that FESE’s views were “ignored” when the Commission did a less ambitious consultation on ‘market abuse proposals’ launched in May. In any event, say the experts, the effectiveness of the plans will be lessened by faults elsewhere.A case in point is a fudged proposal on rules for prospectuses that firms must give would-be investors before they raise capital on European markets. Touted as a ‘one-stop shop’ towards an initial public offering, this proposal does nothing to end the fragmentation of national markets which is increasing the cost of raising capital for European companies in Europe, says Pirez. “The proposal of the Commission to create a single passport for issuers still relies on the cooperation between national regulators, and does not lead to a truly European passport.” The consequence, he believes, will be that European companies are driven to the US to raise capital. “Worse,” he says, “it hinders economic growth and the creation of employment in Europe.” In other words, Bolkestein has a lot more conducting to do before securities markets are singing in perfect harmony with the Commission.last_img read more

Trump called Angela Merkel and Theresa May ‘losers’

first_imgIt’s not the first time Trump has reportedly called May and Merkel “losers,” with the Guardian quoting unnamed former European diplomats and officials who said they had heard the former U.S. president refer to the two leaders in that way.François Hollande was also interviewed for the documentary, and said Trump had called him in January 2017, when he was still French president, to ask for advice on Cabinet appointments.“He said ‘Mr President, you’ve got a lot of experience with the United States, well could you give me some advice for putting together my team at the White House?’” Hollande said of Trump. “I thought he was just being courteous, it was pretty outrageous. Imagine I phone [former U.S. President Barack] Obama and said ‘You know France well, who should I appoint as an adviser?’” Ex-U.S. President Donald Trump called German Chancellor Angela Merkel and former British Prime Minister Theresa May “losers,” according to France’s former envoy to America, Gérard Araud. In an interview for the BBC documentary “Trump Takes on the World,” Araud said Trump had asked French President Emmanuel Macron what he thought of Merkel and May while on a visit to France for the 2017 Bastille Day celebrations. Before Macron could reply, according to Araud, Trump said: “They are losers.”“Macron said nothing,” in response to the remarks, Araud said.last_img read more

Blink-182 To Release EP By Christmas

first_imgMichael HaskoorAfter a recent split from Interscope Records (after 15 years with the label), a now independent Blink-182 has announced that they are recording music and announced that they will be releasing an EP by Christmas. Lead Vocalist Tom Delonge’s Twitter account seems to be the major outlet for Blink-182 news, with a tweet on October 23, 2012 from the artist announcing their freedom from the label and then the November 8th announcement of the EP. Pre-orders for the new EP start tomorrow here.Hoppus later clarified in an MTV interview that there are no hard feelings with the label that did a great deal for the band and that they simply needed a change. A full-length album may still be in the works for early next year, but the EP (for which the drum tracking has begun) is due out next month.last_img read more

DiBenedetto finds positives in Xfinity Series’ first test at Indy road course

first_imgMatt DiBenedetto and NASCAR officials offered positive first impressions Wednesday during the Xfinity Series’ first test on Indianapolis Motor Speedway’s road-course layouts.DiBenedetto drove a Team Penske No. 22 Ford on a pair of configurations — a 12-turn layout and a 14-turn circuit — to help determine the best setting for the July 4 event at the historic speedway. Track owner Roger Penske joined other officials Jan. 15 to announce that the Xfinity Series would use the IMS road course for the first time this season.MORE: 2020 Xfinity Series scheduleDuring a lunchtime news conference, DiBenedetto said he was still figuring out his approach to the more technical sections in the track’s infield, adding that the tighter twists reminded him of Sonoma and Mid-Ohio, but that the faster portions of the course had parallels with Watkins Glen. The 12-turn layout (2.28 miles) uses the oval’s first turn as a sweeping right-hander before the frontstretch; the 14-turn configuration (2.41 miles) bypasses the oval’s Turn 1 with a sharp infield [email protected] also joked about making the proper turn out of the Indianapolis garage; stock cars will run clockwise for the first time at the Brickyard this summer.“The part that I liked the most about this course is that it actually does have multiple passing opportunities,” said DiBenedetto, who will join Wood Brothers Racing for the Cup Series season this year. “That was one of the things we wanted to evaluate is how it’s going to race, how technical it is and the passing zones. So the cool thing is what we love as road racers is heavy braking zones. … There’s high-speed stuff, there’s low-speed stuff, so it’s pretty much everything we could ask for from a competitor’s standpoint for race-ability.”Xfinity Series director Wayne Auton said that competition officials would analyze the data from the test to make a determination about which course layout will be used and the length of the race and its stages. Auton said in-car camera footage would be shared with the drivers, and teams would share the data to help get a baseline for set-ups at the IMS road course.Auton added that Goodyear officials attended the test, trying a pair of tire combinations — one used recently at the Charlotte Motor Speedway Roval and the other used at both Mid-Ohio and Road America.“The one thing with the engineers that are here and Matt’s input inside the race car is we look at the gearing to make sure that we aren’t too slow with RPMs when you get into the slower turns that we have here, or that you’re not hitting the (rev-limiter) chip going down this long front straightaway or the long back straightaway that upsets the engine,” Auton said. “There’s a lot of data that we’ll look to the team for. Matt’s input inside the race car is valuable. He’s given us already a lot of information today with the couple of runs that we’ve already done that will be very valuable for us to take back to our engineers. … We’ll evaluate it, and see how we do.”DiBenedetto was chosen as the driver for the test with the caveat that he would be ineligible to enter the July 4 event. He said that it was the lone minor regret from what’s been a time of great personal transition — joining the Wood Brothers soon after his release from Leavine Family Racing.“It’s been a lot of change in a short time, and it’s been a whirlwind,” DiBenedetto said. “So I don’t even know how to answer that of just how cool my life has been in the past handful of months really since not long after Bristol last year. So a lot’s changed for me personally and my family, and I couldn’t have possibly dreamt up all the big things and the little things. I mean, I’d consider this one of the big things — opportunities like this are things I’ll never forget the rest of my life.“I’ll be able to say forever that, hey, I got asked by Mr. Penske himself, that whole team, by NASCAR, folks at IMS — everyone — to come and be the first ever to run the road course and test it out for the NASCAR Xfinity gang. So there’s a lot of amazing things for me personally that have been happening that I’ll never forget and always appreciate.”last_img read more

The String Cheese Incident Releases Pro-Shot Video Of Billy Strings Sit-In From DelFest [Watch]

first_imgOn Friday, May 24th, The String Cheese Incident offered up two guest-filled headlining sets at Cumberland, MD’s DelFest.SCI got the whole DelFest family involved on their first set, welcoming a string of bluegrass heavyweights including Joe Craven (on “Manga”), Del McCoury Band members Ronnie McCoury, Robbie McCoury, and Jason Carter (who stuck around for several songs including “Colorado Bluebird Sky”, the SCI debut of Hank Williams‘ “Long Gone Lonesome Blues”, “Boo Boo’s Pik-A-Nik”, Steve Miller Band‘s “Take The Money and Run” > “Salt Creek” > “Take The Money and Run”, and “Big Mon”), and Cody Kilby, Alan Bartram and Del McCoury himself (on a cover of Leon Jackson‘s “Love Please Come Home”).Midway through the second set, The String Cheese Incident welcomed up-and-coming bluegrass guitarist Billy Strings to collaborate on a length rendition of “Black Clouds”. Strings and Bill Nershi traded off quick-witted acoustic guitar solos throughout the 14-minute jam, backed by Michael Travis and Jason Hann‘s hard-hitting groove behind their respective drum kits.Luckily for fans, SCI has shared pro-shot video of “Black Clouds” featuring Billy Strings from DelFest, which you can enjoy below:The String Cheese Incident ft. Billy Strings – “Black Clouds” [Pro-Shot][Video: The String Cheese Incident]For a full list of The String Cheese Incident’s upcoming tour dates, ticketing, and more information, head to the band’s website.Setlist: The String Cheese Incident | DelFest | Cumberland, MD | 5/25/19Set One: Got What He Wanted > Cant Stop Now, Manga1, Betray The Dark, The Road Home, Colorado Bluebird Sky2, Long Gone Lonesome Blues23, Boo Boo’s Pik-A-Nik2 > Take The Money And Run2 > Salt Creek2 > Take The Money And Run2 > Big Mon2 > Boo Boo’s Pik-A-Nik, Love Please Come Home4, I Saw The Light5Set Two: Hi Ho No Show > Way Back Home > Rollover, Black Clouds6, Illegal > Close Your EyesEncore: I WishNotes: 1 with Joe Craven on Talking Drum, 2 with Ronnie McCoury on Mandolin, Robbie McCoury on Banjo, Jason Carter on Fiddle, 3 Hank Williams Tune (First Time Played),4 Leon Jackson tune with Del McCoury, 5 Hank Williams tune with Del McCoury & Alan Bartram on Bass, Cody Kilby on Acoustic Guitar, 6 with Billy Strings on Acoustic Guitar & Vocalslast_img read more

Conor McPherson’s The Night Alive, Starring Ciaran Hinds & Jim Norton, Extends Off-Broadway

first_img The Night Alive Jim Norton Related Shows Show Closed This production ended its run on Feb. 2, 2014 In addition to Norton and Hinds, The Night Alive features the original cast direct from the Donmar Warehouse’s sold-out, world premiere run, including Caoilfhionn Dunne, Brian Gleeson and Michael McElhatton. View Comments This Night isn’t coming to an end just yet! Atlantic Theater Company’s American premiere presentation of Conor McPherson’s The Night Alive has extended its off-Broadway run at the Linda Gross Theatre through February 2, 2014. The show was initially scheduled to run through January 26. Directed by McPherson, The Night Alive stars Tony winner Jim Norton (The Mystery of Edwin Drood, The Seafarer) and Broadway vet Ciaran Hinds (The Seafarer, Cat on a Hot Tin Roof). Tommy (Hinds) is not a bad man. He’s getting by—renting a run-down room in the house owned by his Uncle Maurice (Norton), keeping his ex-wife and kids at arm’s length, and rolling from one get-rich-quick scheme to the next with his pal Doc. Then one day he comes to the aid of Aimee, who’s not had it easy herself, struggling through life the only way she knows how. Their pasts won’t let go easily. But together there’s a glimmer of hope they could make something more of their lives. Star Files Ciaran Hinds The Night Alive features scenic design by Soutra Gilmour, lighting design by Neil Austin and sound design by Gregory Clarke. Atlantic Theater Company previously presented premiere productions of McPherson’s Dublin Carol and Port Authority.last_img read more

Love and money: How low-income dads really provide

first_imgLinkedIn Pinterest “The most disadvantaged dads end up looking like they’re completely distanced from their kids but they’re actually giving quite a lot,” said co-author Kathryn Edin, a Johns Hopkins Bloomberg Distinguished Professor of sociology. “I was really surprised by how much these disadvantaged guys, these truly marginally employed men, are putting all of this thought and what little resources they have into showing their children that they care.”Edin, along with Timothy J. Nelson, a Johns Hopkins sociologist, and Jennifer B. Kane, a postdoctoral scholar at the Carolina Population Center at the University of North Carolina, studied 367 lower-income noncustodial fathers in three cities: Philadelphia, Austin, Texas; and Charleston, South Carolina.Nearly half of the fathers, 46 percent, contributed in-kind support to a child, while 23 percent of them gave formal support (through the court system), and 28 percent gave informal support (cash straight to the mother).Fathers providing in-kind support gave each child items worth about $60 a month — more per month, per child, than they spent on formal ($53) or informal ($40) support.In-kind support included items like baby products (diapers, formula, strollers and cribs), clothing, shoes, school expenses, school supplies, after-school program costs, gifts and food.Some fathers, 66 in the study with 95 children, avoided cash payments altogether — dads who would traditionally be considered “deadbeat.” They gave $63 per child a month through in-kind support — support that is currently unacknowledged in any government surveys or statistics.Other notable findings:Fathers who did not visit their kids gave each child goods worth about $48 a month while dads that spent at least 10 hours a month with their children gave them twice as much in-kind support — $84. Each additional hour of visitation was associated with an increase of nearly $1 of in-kind support per month.Fathers who were romantically involved with the mother offered 52 percent of their support through in-kind provisions, while dads not involved with the mother gave 36 percent in-kind.The value of in-kind support varied by the child’s age with younger children getting the most in-kind support — an average of $78 for children under 5 — compared with $41 for children 10 and up.The total value of in-kind support did not vary by race but the proportion of total support offered in-kind was higher among black fathers, 44 percent, than non-black fathers, 35 percent.The researchers also learned what motivates men to give their children these tangible items rather than handing cash over to their mothers. Fathers see the gifts as a chance to bond with their children, they found.“What we learned is that these dads are purchasing a relationship with their children,” Edin said. “They want their kids to look down at their feet and say, ‘My dad cares about me because he bought me these shoes.’ ”The dads are trying to link love with money, she said.“We need to respect what these guys are doing, linking love and provision in a way that’s meaningful to the child,” Edin said. “The child support system weakens the child/father bond by separating the act of love from the act of providing. Share on Twitter Emailcenter_img Share Low-income fathers who might be labeled “deadbeat dads” often spend as much on their children as parents in formal child-support arrangements, but they choose to give goods like food and clothing rather than cash, a Johns Hopkins-led study found.In the first examination of the magnitude of in-kind child support, published this month in the Journal of Marriage and Family, the team found many disadvantaged noncustodial fathers spend an average of $60 a month on in-kind provisions, while dads paying formal child support spend about $38 a month.Men who were the most disadvantaged tended to give a higher proportion of their support in gifts, the study found. Share on Facebooklast_img read more

2019 Unofficial Election Results For Los Alamos School Board, School Bond And UNM-LA Advisory Board

first_imgLos Alamos Public Schools Superintendent Kurt Steinhaus this evening at the Municipal Building thanks Los Alamos for supporting better schools and brighter futures by passing the School Bond in today’s election and by a large margin. Photo by Carol A. Clark/ladailypost.comStaff ReportThe Los Alamos County Clerk has issued the 2019 Los Alamos County Unofficial Election results for School Board in Districts 3, 4, and 5, UNM-LA Advisory Board Positions 3 and 4 and the School Bond.Los Alamos School Board Election ResultsDist. 3 Christine Bernstein (Aspen) 576 WinnerDist. 3 Morrie Pongratz (Aspen) 392 Dist. 5 Dawn Jalbert (Mountain Unopposed) 616 WinnerUNM-LA Advisory Board Election ResultsPosition 3 Laura Burrows (At Large) 1,395 WinnerPosition 3 David Hampton (At Large) 863Position 3 Pat Soran (At Large) 1,240 Position 4 Stephen Boerigter (At Large) 2,431 WinnerPosition 4 Chris Luchini (At Large) 1,112School District General Obligation BondFor 3,609 PassesAgainst 780center_img Dist. 4 Julia Baker (Barranca) 495 WinnerDist. 4 Melanie Colgan (Barranca) 462last_img read more

Go ahead for luxury hotel in Oxfordshire

first_imgArchitect AukettFitzroyRobinson, on behalf of Firoka, plans a luxury hotel with leisure and conference facilities at the hotel, golf and country club in Chipping Norton in Oxfordshire.4 star plansPermission for the 4 star hotel has been granted by West Oxfordshire Council for the creation of a new building to replace the existing T-shaped 1960s Brassey Wing.AukettFitzroyRobinson was chosen by Firoka following a design competition in 2006. The Firoka Group bought the Baroque Palace, extensions and grounds in 2000 from the National Westminster Bank.last_img read more