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Carlos Ghosn granted bail by Japanese court

first_img Share Carlos Ghosn granted bail by Japanese court Former Nissan chairman Carlos Ghosn has been granted bail by a Tokyo court after serving more than three months in prison over accusations of financial misconduct.In a surprise overnight decision, a Japanese district court has set bail for the ousted boss at 1bn yen (£6.8m). Sebastian McCarthy Tags: Trading Archive The news comes in the wake of two previous applications for bail by Ghosn, both of which have been denied on grounds that the former executive was a flight risk and could conceal evidence.Read more: Nissan cuts profit forecast and takes £65m hit on Ghosn salaryHowever, a fresh filing from Ghosn’s new legal team means that the Brazilian could be released at some point today, according to Japanese media reports.Ghosn, who has been in custody since November, was arrested late last year over allegations of financial misconduct which he denies.The 64-year old car boss was removed as chairman by Nissan and Mitsubishi following his arrest. whatsapp Yesterday it emerged that Ghosn has volunteered to wear an electronic ankle tag and hire security to keep watch on him in a last ditch attempt to secure bail.Read more: Ghosn’s new lawyer sets fresh strategy in hunt for bail dealThe ousted Nissan chairman has also offered to post stock he owns in the company as collateral and hand over his passports as part of his second attempt to persuade Tokyo District Court to grant him bail.He denies all charges of financial misconduct as he awaits a trial, which he said he would attend “not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself”.“I am not guilty of the charges against me and I look forward to defending my reputation in the courtroom.” In December Renault said it would keep Ghosn as chairman and chief executive after its preliminary investigation found no evidence of wrongdoing.Chief operating officer Thierry Bollore has taken over the day-to-day running of the car manufacturer during Ghosn’s detention.But the French government, which holds a 15 per cent stake in Renault, has ramped up its hunt to find a new chairman, according to Reuters.Renault interim chairman Philippe Lagayette has denied reports of division among board members over Ghosn’s future at the company. whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.comConnecticut man dies after crashing Harley into live bearnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Tuesday 5 March 2019 7:13 amlast_img read more

WATCH: Biden and Harris make victory speeches as president and vice president-elect

first_img2020 Alaska General Election | Federal Government | National Election Coverage | National News | NPR News | PoliticsWATCH: Biden and Harris make victory speeches as president and vice president-electNovember 7, 2020 by NPR News Share:Former Vice President Joe Biden speaks at the Chase Center July 14, 2020 in Wilmington, Delaware. From the moment he launched his campaign, Joe Biden focused on what he called a “battle for the soul of our nation.” (Photo by Chip Somodevilla/Getty Images)Updated at 4:15 p.m. AKPresident-elect Joe Biden has realized a political dream that began nearly three decades ago. On Saturday, he crossed the 270-electoral vote threshold to win the presidency after securing Pennsylvania and its 20 electoral votes, according to the AP and other networks.Biden is set to give remarks to the American people at 8 p.m. ET. Watch live here when it begins.The former vice president’s path to being elected the 46th president of the United States was a tumultuous one, marked by unprecedented campaign challenges because of the coronavirus pandemic and an incumbent opponent who declared a premature victory.President Trump on Saturday signaled that he has no intention of conceding the race.Biden’s triumph came in the midst of a series of last-minute legal actions taken by the Trump campaign, seeking to halt the processing and counting of mail-in ballots in some contentious swing states while pushing for a recount in others.Beginning very early on in his bid for reelection, Trump and his surrogates sought to undermine the democratic process, falsely asserting that the increase in mail-in ballots, largely driven by the pandemic, would lead to widespread fraud. That stance primed the president’s supporters for his eventual false claim that Democrats were trying to steal the election.Early data suggests about 160 million Americans voted this election, according to the U.S. Elections Project, a turnout-tracking database run by University of Florida professor Michael McDonald.Updated at 8:12 a.m. AKFormer Vice President Joe Biden has been elected the 46th president of the United States, narrowly emerging victorious from a contentious White House campaign that stretched days past election night, as vote tallies in several swing states were slowed by an unprecedented surge in mail-in ballots.Source: AP (as of 8:16 AM on Nov. 7, 2020). See full results.Biden edged President Trump, who in the days since voting ended has falsely claimed a premature victory and baselessly said Democrats were trying to steal the election. The Trump campaign is still contesting the process in several states, and said in a statement on Saturday: “This election is far from over.”Despite the president’s rhetoric, Biden’s team projected confidence as ballots were tabulated, knowing that large chunks of the vote still to be counted were in diverse Democratic strongholds like Milwaukee, Detroit and Philadelphia.The Associated Press called the race for Biden on Saturday when it said that Pennsylvania’s 20 electoral votes put him over the 270-vote threshold needed to win the Electoral College.It’s a fitting tipping point state. Biden was born in Pennsylvania and launched his campaign with rallies in Pittsburgh and Philadelphia. He spent Election Day visiting his childhood home in Scranton and then rallying supporters in Philadelphia.“America, I’m honored that you have chosen me to lead our great country,” Biden tweeted on Saturday. “The work ahead of us will be hard, but I promise you this: I will be a President for all Americans — whether you voted for me or not. I will keep the faith that you have placed in me.”Read more at NPR.org.Share this story:last_img read more

Marcus Garvey drive adopted for beautification

first_imgRelatedMarcus Garvey drive adopted for beautification Marcus Garvey drive adopted for beautification CultureMarch 8, 2011 RelatedMarcus Garvey drive adopted for beautification FacebookTwitterWhatsAppEmail National Solid Waste Management Authority (NSWMA), Sampars Cash & Carry and the Tourism Product Development Company Limited (TPDCo) signed a 2-year contract to landscape, beautify and maintain a section of Marcus Garvey Drive, Kingston, Monday (March 7). The project costs $4.17 million, of which approximately $1 million is start up capital. The remaining funds will be allocated over a 2-year period for project maintenance, with $1.6 million to be spent in the first year and the remaining $1.4 million in the second year. Executive Director of the NSWMA, Joan Gordon Webley, said work will begin at the intersection of the Portia Simpson Miller Square, continue in a southerly direction along Marcus Garvey Drive and end at the Jamaica Railway Corporation (JRC), Darling Street. “We are going to be maintaining it for two full years, and I am sure that after that we are going to maintain it for many ‘twos’ after that and so we are extremely happy,” Mrs. Gordon Webley told a press briefing Monday at the NSWMA office, Half Way Tree Road, Kingston. The NSWMA, through its Parks and Gardens Division, will employ workers, provide plants and materials and carry out repairs and maintenance work over the 2-year period. Chairman and Managing Director of Sampars Cash & Carry, Derrick Cottrell, noted that the company was “very happy” to be involved in the initiative. “We are also the first private sector company to be involved and we are very happy to be the pioneers. I would want to encourage my private sector colleagues to get involved,” Mr. Cottrell said.    The project falls under the Adopt-A-Roadway Programme, and offers corporate entities the opportunity to participate in the national beautification effort, islandwide. By identifying and pledging to sponsor specified areas for landscaping and regular maintenance, corporate entities can show support for initiatives to maintain a cleaner and more beautiful environment. Companies wishing to participate in the Adopt–A-Roadway programme can contact the NSWMA at 926-3988/8559 for further information. CONTACT: LATONYA LINTON RelatedMarcus Garvey drive adopted for beautification Advertisementslast_img read more

Ambassador Vasciannie to Address Jamaica 50 Ceremony in Atlanta

first_imgAdvertisements WASHINGTON – Jamaica’s Ambassador to the United States, His Excellency Stephen Vasciannie, is slated to deliver the keynote address at an awards ceremony in Atlanta, Georgia, on January 19 which will culminate a series of year-long series activities staged in that city to mark Jamaica’s 50th Independence Anniversary.The function, which is scheduled for the Atlanta City Hall Atrium, will see a number of Jamaicans residing in that city, being honoured for outstanding contributions to that community.Noted Jamaican singer, Karen Smith, and Atlanta-based artiste, Monty Montgomery, head the list of entertainers slated to perform at what is expected to be a grand affair.Several activities, showcasing Jamaica’s culture and heritage, were organized by the Jamaica 50 Atlanta Planning Committee, as Jamaicans and other nationals commemorated the country’s Independence Jubilee during 2012.The events included: an Ecumenical and Thanksgiving Service at St. Timothy’s Methodist Church; a Flag Raising Ceremony at Atlanta City Hall; and an Independence Ball hosted by the Atlanta/Jamaica Association. Other events staged, which were endorsed by the Planning Committee, included: a fashion cabaret; and the Atlanta Caribbean Jerk Festival.Patron of the activities, Jamaica’s Honourary Consul to Atlanta, Vin Martin, said the aim was to present an “entertaining and culturally-pleasing round of events that everyone (could) participate in and celebrate with us”, adding that “I know we succeeded in doing that”.Planning Committee President, Heather Potter, described the activities as a “wonderful celebration for the Jamaican community here in Atlanta (which) has allowed all of the metro-Atlanta area to experience Jamaica at its best”. RelatedAmbassador Vasciannie to Address Jamaica 50 Ceremony in Atlanta Ambassador Vasciannie to Address Jamaica 50 Ceremony in Atlanta Foreign AffairsJanuary 12, 2013Written by: Derrick Scott RelatedAmbassador Vasciannie to Address Jamaica 50 Ceremony in Atlantacenter_img FacebookTwitterWhatsAppEmail RelatedAmbassador Vasciannie to Address Jamaica 50 Ceremony in Atlanta Story HighlightsWASHINGTON – Jamaica’s Ambassador to the United States, His Excellency Stephen Vasciannie, is slated to deliver the keynote address at an awards ceremony in Atlanta, Georgia, on January 19 which will culminate a series of year-long series activities staged in that city to mark Jamaica’s 50th Independence Anniversary.The function, which is scheduled for the Atlanta City Hall Atrium, will see a number of Jamaicans residing in that city, being honoured for outstanding contributions to that community.  Noted Jamaican singer, Karen Smith, and Atlanta-based artiste, Monty Montgomery, head the list of entertainers slated to perform at what is expected to be a grand affair.last_img read more

MSME Operators Urged to Formalise Their Businesses

first_imgFacebookTwitterWhatsAppEmail Micro, Small and Medium Sized Enterprise (MSME) operators have been urged to take immediate steps to formalise their businesses, by Industry, Investment and Commerce Minister, Hon. Anthony Hylton.Speaking at the launch of the Jamaica Business Development Corporation (JBDC) Mobile Business Clinic Initiative in Savanna-la-Mar, Westmoreland, on January 27, the Minister said once members of the sector formalise their operations, they will be able to access tremendous benefits, both locally and internationally.“Some of you believe it is cool or it is the thing to do to remain informal and thereby invisible. It is not a good thing. If you remain invisible, then some of the help that can be facilitated by Government…you will simply not be able to access,” he warned.Mr. Hylton said the Ministry will also be moving to encourage MSMEs to start thinking globally, even if they continue to act locally. This will be done using various methods.“We want to build increased awareness of current business development services…provide training, capacity building, and technical training. We can no longer limit ourselves to the market in our communities and country as a whole. Today, the world is your market, no matter how small your business may be,” the Minister emphasised.The Mobile Business Clinic Initiative, which ends in Savanna-la-Mar on Thursday, January 29, is being staged under the theme: Strengthening the capacity of Jamaican MSMEs’. MSME Operators Urged to Formalise Their BusinessesJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay RelatedMobile Business Clinic to Assist Entrepreneurs in the West Advertisements Story HighlightsMSME operators have been urged to take immediate steps to formalise their businesses, by Industry, Investment and Commerce Minister, Hon. Anthony Hylton.The Minister said once members of the sector formalise their operations, they will be able to access tremendous benefits, both locally and internationally.Mr. Hylton said the Ministry will also be moving to encourage MSMEs to start thinking globally, even if they continue to act locally.center_img Photo: JIS PhotographerIndustry, Investment and Commerce Minister, Hon. Anthony Hylton (left), in discussion with Member of Parliament for Central Westmoreland, Mr. Dwayne Vaz, during the launch of the Westmoreland leg of the Mobile Business Clinic initiative, on January 27 at the NCB Car Park along Great George Street in Savanna-la-Mar. The clinic, which will be staged over three days, is organised by the Jamaica Business Development Corporation (JBDC). RelatedGovt Launches Model to Boost Business Environment For MSMEs MSME Operators Urged to Formalise Their Businesses CommerceJanuary 28, 2015Written by: Marlon Tingling RelatedCabinet to Approve Charities Appeals Tribunallast_img read more

AP Explains: Juneteenth celebrates end of slavery in the US

first_imgHomeNewsAP Explains: Juneteenth celebrates end of slavery in the US Jun. 15, 2019 at 4:50 amNewsAP Explains: Juneteenth celebrates end of slavery in the USAssociated Press2 years agoCelebrationscivil waremancipation proclamationjuneteenthLaura SmalleyMaj. Gen. Gordon Granger A holiday that is spreading across the U.S. and beyond, Juneteenth is considered the oldest known celebration commemorating the ending of slavery in the United States.It was originally celebrated on June 19, the day that Union soldiers in 1865 told enslaved African Americans in Galveston, Texas, that the Civil War had ended and they were free.Celebrations include parades, concerts, and readings of the Emancipation Proclamation. This year, Juneteenth will also feature the first congressional hearing in more than a decade on reparations for slavery.Here’s a look at the holiday and its history:BEGINNINGSThe celebration started with the freed slaves of Galveston, Texas. Although the Emancipation Proclamation freed the slaves in the South in 1863, it could not be enforced in many places until after the end of the Civil War in 1865.Laura Smalley, who was freed from a plantation near Bellville, Texas, remembered in a 1941 interview that her former master had gone to fight in the Civil War and came home without telling his slaves what had happened.“Old master didn’t tell, you know, they was free,” Smalley said . “I think now they say they worked them, six months after that. Six months. And turn them loose on the 19th of June. That’s why, you know, we celebrate that day.”It was June 19, 1865 when Maj. Gen. Gordon Granger and his Union troops arrived at Galveston with news that the war had ended and that the enslaved were now free.Granger read from General Order No. 3, which said: “The people of Texas are informed that, in accordance with a proclamation from the Executive of the United States, all slaves are free. This involves an absolute equality of personal rights and rights of property between former masters and slaves, and the connection heretofore existing between them becomes that between employer and hired labor.”The next year, the now-freed slaves started celebrating Juneteenth in Galveston, and the celebration has continued around the nation and the world since.WHAT DOES JUNETEENTH MEAN?The term Juneteenth is a blend of the words June and nineteenth. The holiday has also been called Juneteenth Independence Day or Freedom Day.According to Dee Evans, national director of communications of the National Juneteenth Observance Foundation, there will be Juneteenth celebrations in almost every state this year.Black Texans took the holiday with them as they moved around the country and overseas, Evans said, and what started as a local celebration went international.Forty-five states and the District of Columbia recognize Juneteenth as a state holiday or day of recognition, like Flag Day. Countries like South Korea, Ghana, Israel, Taiwan, France, and the U.S. territory of Guam have held or now hold Juneteenth celebrations.A resolution recognizing Juneteenth as a national holiday passed the Senate last year, but the accompanying resolution has not been approved in the House.REMEMBERING THE PASTJuneteenth celebrations used to revolve around the church with speeches and picnics, said Para LaNell Agboga, museum site coordinator at the George Washington Carver Museum, Cultural and Genealogy Center in Austin, Texas, which has one of the only permanent Juneteenth museum exhibits in the country.It changed around the 1960s with the civil rights movement, she said.“It became a little more secular and stretched over more than one day,” Agboga said. “It became kind of a time of community gathering … It’s really more huge parties and huge parades and big concerts, but always bringing in freedom. It’s all about freedom.”More than 150 cities will have Juneteenth celebrations this year, Evans said.Each celebration is different, from parades in places like Philadelphia, Chicago, New York, Atlanta, San Francisco and Houston, to concerts in Tulsa, Oklahoma, Denver and Marietta, Georgia, to free genealogy workshops outside of Washington, D.C., to readings of the Emancipation Proclamation.Agboga, Evans and others are working to make sure Juneteenth celebrators don’t forget why the day exists.“In 1776 the country was freed from the British, but the people were not all free,” Evans said. “June 19, 1865 was actually when the people and the entire country was actually free.”It’s also a day to remember the sacrifices that were made for freedom in the United States, especially in these racially and politically charged days, Agboga said.“Our freedoms are fragile, and it doesn’t take much for things to go backward,” she said.Santa Monica’s 27th annual Juneteenth Festival takes place Saturday, June 15 11 a.m. – 5 p.m. at Virginia Avenue Park. For more information, visit Santa Monica’s Virginia Avenue Park Facebook page (@vapark) or call 310-458-8688Tags :Celebrationscivil waremancipation proclamationjuneteenthLaura SmalleyMaj. Gen. Gordon Grangershare on Facebookshare on Twittershow 1 comment April Loving says: August 2, 2019 at 10:08 AM 1 Comment Dee Evans and Mac Loving Jr are liars and thieves who have no business dealing with anything to do with tbe empowerment of black people they are con artist who deserve to be in prison well for Mr Loving the prison system should simply re-issue your jail house blues…..BEWARE IF THESE CRIMINALS Marina Del Rey – The Sierra Club Presents a Free Screening THE LAST STAND: Struggle for Ballona Wetlands (Update: 2000)Younger 2020 candidates hint at age divide in hitting BidenYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall8 hours agoNewsCouncil picks new City ManagerBrennon Dixson19 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter19 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor19 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press19 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press19 hours ago Comments are closed.last_img read more

What local leaders are thankful for this Thanksgiving

first_imgHomeBusinessWhat local leaders are thankful for this Thanksgiving Nov. 27, 2019 at 6:00 amBusinessFeaturedNewsWhat local leaders are thankful for this ThanksgivingGuest Author2 years agoBen DratiCynthia RenaudleadersMia WachtelNick ShippthankfulThanksgiving “Every year at Thanksgiving, I am asked the same question: What are you thankful for? There’s a lot in life to be thankful for; Thoughtful friends and a loving family, good grades and a warm place to sleep, but there is one thing I am especially grateful for this year: compassion. Com-passion is the reason we as people are compelled to help one another, to feel for one another, and to support one another. Without compassion, life itself would lose its most endearing quality. I am thankful for the compassion that I am greeted with every single day, and it is the gift that I will be giving back this Thanksgiving. How about you?”Mia Wachtel, Santa Monica-Malibu Unified School District Board of Education student member“There’s a lot of things to be thankful for this holiday season. We’re so thankful to our loyal regulars that have supported us through the years as well as new guests who have taken their valuable time to spend with us too. We’re incredibly thankful to our staff and their families…they are the real backbone of Upper West. Happy holidays and may you all be bestowed with a healthy and prosperous New Year!!!”Nick Shipp, chef of Upper West“As we enter this season of giving, I want to express my thanks for the hard work and dedication toward student achievement, creating safe school environments, and our district goals, by all staff, certificated and classified, throughout the year. I am thankful to be part of Santa Monica and Malibu, which are two very caring and generous communities always looking out for the best interests of our families, staff, and community members.I wish everyone in Santa Monica and Malibu, and all your loved ones, a healthy, safe, warm, and Happy Thanksgiving.”Dr. Ben Drati, Santa Monica-Malibu Unified School District Superintendent“I am thankful for my wonderful family; my husband, children, and siblings who inspire and make me proud every day. I am thankful for the great team here at SMPD that I am fortunate enough to be part of. And I am thankful for this engaged and connected community we all serve.”Cynthia Renaud, Santa Monica Chief of Police“I am deeply thankful for all the amazing people and non-profits in my district who are constantly working to reduce homelessness. Thanks to LA Family Housing in the Valley, Safe Place for Youth and St. Joseph’s Center in Venice, The People Concern in Santa Monica, and Blessed Sacrament and PATH in Hollywood, tens of thousands of men, women, and families, young and old, are moving from homelessness to homes. The lack of affordable housing in this region makes this crisis very challenging, but we are making progress, and I am eternally grateful for the caring dedication of all the people making that progress possible.”Sheila Kuehl, Los Angeles County Supervisor“We are thankful for 42 years on the Santa Monica Pier. We are thankful for the opportunity to represent our great city at one of the best travel destinations in the world. We are thankful to our community, their patience and pride in working with us to make the Santa Monica Pier even better. We are thankful to our city for caring about legacy, small family businesses. We are thankful to be a green business on a green Pier and hopeful that others will carry our message forward and make positive impacts in their community.”Greg Morena, Santa Monica City Council member and owner of The AlbrightTags :Ben DratiCynthia RenaudleadersMia WachtelNick ShippthankfulThanksgivingshare on Facebookshare on Twitteradd a commentCity halts plan to relocate parks maintenance crews to Santa Monica AirportNoteworthy – Tomorrow’s Musical Memories Now, IIYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall7 hours agoNewsCouncil picks new City ManagerBrennon Dixson18 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter18 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor18 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press18 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press18 hours agolast_img read more

Telefonica CEO resigns from TI board over Brazil conflict

first_imgHome Telefonica CEO resigns from TI board over Brazil conflict Previous ArticleSprint mulling T-Mobile bid — reportNext ArticleAppsfire switches focus from discovery to ads AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 16 DEC 2013 Español Telefonica bolsters blockchain security Ken Wieland Telefónica refuerza la seguridad de las cadenas de bloques Relatedcenter_img Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more Luz verde a la fusión entre Telefónica y Liberty Global en el Reino Unido Author Tags Cesar Alierta (pictured), Telefonica’s CEO, stepped down from Telecom Italia’s board in the hope of diffusing a row over an alleged conflict of interest in Brazil where the two operators compete.Julio Linares, a former chief operating officer at Telefonica, joined Alierta in resigning from the Italian incumbent’s board.Both departures come into effect immediately.The two resignations come on the heels of Cade, Brazil’s anti-trust watchdog, turning up the heat on Telefonica.Aggrieved that the Spanish and Latin American operator had broken a 2010 agreement not to raise its stake in Telecom Italia, the parent company of TIM Brasil – which is the second-largest mobile operator in Brazil – Cade ruled that Telefonica must either exit its stakeholdings in TIM Brasil or get a new partner for its Vivo mobile subsidiary.Vivo, controlled by Telefoncia, is the largest mobile operator in Brazil.Combining its Vivo interest with direct and indirect stakeholdings in Telecom Italia, Telefonica controls more than half the mobile market in Brazil – something which Cade wants to redress.For good measure, Cade slapped a BRL15 million ($6.3 million) fine on Telefonica for raising its stake in Telecom Italia, as well as fining TIM Brasil BRL1 million.“Alierta and Linares’s move makes sense as it not only addresses immediately Cade’s decision but also tries to prove to Italian market regulator Consob that Telefonica isn’t in a conflict of interest,” Andrea Giuricin, a professor who specialises in media and telecommunications at Milan Bicocca University, told Bloomberg in a phone interview.Cade reportedly wants to trim back Telefonica’s position in Brazil’s mobiile market to its pre-2010 level.At that time Telefonica held half of Vivo and a minority stake in Telco (the company that owns 22.4 percent of Telecom Italia).By increasing its Telco stake, however, Telefonica gained effective control of the Italian incumbent.Sensitive to the perceived conflict of interest, Bloomberg reports that Alierta and Linares used to leave the room when Brazil was discussed during Telecom Italia board meetings.How far the two boardroom resignations will diffuse the row is unclear. Telefonica is still reportedly considering taking legal action to stop Brazil’s authorities from forcing the operator to loosen its grip in the country.Shareholder shuffling?The exit of Alierta and Linares comes at a time of shareholder wrangling at the Italian incumbent.Telecom Italia shareholders are due to meet on 20 December to vote on a motion by Marco Fossati’s Findim Group, a minority investor (holding about 5 per cent equity).The motion is an attempt to remove the current board, stating that Telefonica and its Telco partners have too much influence over the Italian operator.There also seems to be some confusion as to how much equity BlackRock – the world’s biggest investment manager – holds in Telecom Italia.BlackRock, in an email sent today (16 December),  and cited by Bloomberg,  said it had a 7.78 per cent stake in Telecom Italia as of yesterday.An SEC filing dated on 9 December, however, showed BlackRock holding a 10.14 per cent stake.The investment firm said the discrepancy was due to some bonds that can be converted into Telecom Italia shares.BlackRock maintained these aren’t relevant to disclosure obligations (needed when individual stakes rise above 10 per cent) because the shares into which the bonds will be converted haven’t yet been issued. BlackRockBrazilFinancialRegulatoryTelefonicaTelefonica ItaliaTIMVivolast_img read more

Flathead High Campaign Promotes Healthy Choices

first_img Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. In the wake of headlines highlighting student conduct infractions at Flathead High School, a parent group has launched a campaign encouraging teenagers to make good decisions and reminding the community of the many positives at the school that don’t make the news. A number of news stories over the fall have focused on behavior-related incidents involving Flathead athletes and the subsequent court proceedings that stemmed from one of those incidents. Kelly Osborne, a parent, said the negative exposure, combined with other separate infractions among the student populace such as alcohol possession, underscores the importance of promoting sound decision-making in both the school and community. Furthermore, she said, the publicity paints an unfair picture of Flathead High School’s students.“This year’s had a rough start,” Osborne said. “We’ve had a lot of negative things happen that have caught some negative headlines, but the reality is that we have 1,400 students at Flathead High School and most of them are doing well and making good decisions.”Osborne is involved with a parent group that has organized a weeklong event on Nov. 15-19 using the motto: “Brave Enough to Be the Change.” Former students are coming to tell their stories and emphasize the importance of making healthy choices in high school. Information is being disseminated on issues such as drug and alcohol use among teenagers.There are also activities that address the dangers of driving under the influence, texting while driving and other unsafe behavior. Activities include a game in which students come up with “25 things to do in the Flathead that are fun, legal, moral and ethical,” as well as driving a Big Wheel around while wearing goggles that mimic the effects of alcohol impairment.Among the Flathead alumni helping out are musician Luke Dowler, Miss Montana Kacie West and television news anchor Andrea Lutz. Lex Hilliard, a former Braves standout and current professional football player, is putting together a video and has donated a ball autographed by the Miami Dolphins’ football team and other memorabilia.The week ends with two assemblies held by motivational speaker Mac Bledsoe on Friday. All of the events take place in the commons area during the school’s two lunch hours except for Bledsoe’s presentations, which are in the morning before lunch, Osborne said. Area businesses have also made donations.The parent group recognizes that teenagers often think in terms of the present and don’t fully grasp how their decisions today carry lasting impacts on their future: jobs, college and personal growth. By bringing in successful former students to speak, the parents hope students can better see how their choices are inter-connected.“It is possible to go to Flathead High School, to be successful, to make good choices and make an impact in the world,” Osborne said. “They don’t realize that the long-term effects of their decisions could prevent them from pursuing their goals.”Osborne said the weeklong event is only the first step in a greater community campaign to promote positive life messages, for both youths and the adults mentoring them. The parent group was formed last year under the direction of Principal Peter Fusaro and meets regularly.Robyn Balcom said another part of the group’s mission is to help teachers and administrators. “We want to tell staff, ‘We’re in this with you,’” Balcom said. “We as parents don’t want to just be the complainers or the people you track down when someone gets in trouble.” She added: “We always say, ‘What can we do that tell the teachers that we care? What can we do to tell the students that we care?”A major goal of the campaign is to equip teenagers with the knowledge and guidance they need to create their own change. Then they can pass that along to their peers. It’s positive peer pressure. “There’s an element of bravery it takes not only to not do the wrong thing but also to encourage other people to do the right thing,” Balcom said. “We’ve tried to tie in the ‘Brave’ thing – will you be brave enough to be that positive role model?”last_img read more

Kalispell Diverts Tax Increment Funds to Flathead High

first_imgKalispell City Council voted this week to distribute funds from a tax increment district to Flathead High School to repair a potential fire hazard. Darlene Schottle, superintendent of Kalispell schools, initially requested the funds in March, following the rejection by voters one week earlier of a building reserve levy. The school district will receive $153,399 to correct potential problems with Flathead High’s “half-floors” – the flat areas breaking up staircases between floors, which former Fire Chief Dan Diehl said could pose a potential problem. “We’re just trying to take care of this one area that’s of particular concern to us,” Schottle told the council. “If we don’t address this we may have this area closed down.” The vote by council, of which Tim Kluesner was the only member opposing, releases $465,000 from the West Side Tax Increment Finance (TIF) District to the entities that pay into it. The decision marks the first time the council has shown a willingness to use those funds for anything other than its stated purpose. “This is nine months away from sunset,” Councilman Wayne Saverud said. “If viable projects do come forward I don’t think we’re backing way from the ability to respond to a potential good development.” Tax increment financing is an economic development tool aimed at promoting growth by setting aside a portion of tax revenue from a district into a fund aimed at making specific improvements there. In theory, those improvements will encourage more business to move into the area, further improving it and generating more revenues. But in the case of the Westside TIF, encompassing the general area around the Gateway West Community Center, west of the intersection of Meridian Road and U.S. Highway 2, the stalled economy has not recently enticed any new businesses to set up shop there. The Westside TIF account, meanwhile, has a balance of $2.2 million as of June 29, with a sunset date of March 17, 2012. For more than a year, City Manager Jane Howington and Finance Director Amy Robertson have suggested releasing a portion of those TIF funds to other areas of government also stretched thin due to the economy, like the schools or city health levy. In November, the council denied a request for funds by the Gateway West Community Center to make structural improvements to the former mall, which houses social service agencies and nonprofits. Business groups have pushed to keep the funds available, as an incentive to draw potential employers. Though Councilwoman Kari Gabriel acknowledged at the most recent meeting a letter from the Kalispell Chamber of Commerce urging the TIF funds remain available in case the opportunity to create jobs presents itself, she also supported the measure. “There’s nothing that we know of in the docket waiting to use those funds,” Gabriel said. “With what the school district wants to do with those funds I think it’s a very legitimate use.” But the issue of how TIF funds should be used presented itself repeatedly that night. The next agenda item was a request by TeleTech for $43,964 in West Side TIF funds to repair a fiber optic cable TeleTech recently discovered had been severed during prior roadwork on U.S. 2. TeleTech needs the line as a backup, which it is contractually obligated by its client to have in place. Kalispell’s Urban Renewal Agency recommended the city provide TeleTech $20,982 in West Side TIF funds as its share of the cost to repair the line, noting the call center is one of the area’s biggest employers. But some council members questioned why a private company should receive public dollars to repair its internal infrastructure. “We are giving money to a company that can afford this far more than almost any business in the city of Kalispell,” Kluesner said. “If it passes I hope every business in this TIF district starts to line up and look for the money because I guess the city is starting to give it out.” Councilman Bob Hafferman questioned why CenturyLink, TeleTech’s service provider, or the Montana Department of Transportation, which performed the roadwork, weren’t also involved in paying to repair the line. Councilman Jeff Zauner introduced a motion to table the issue for further study, but it failed. Supporters of the measure argued that future businesses at that location would have access to the fiber optic cable, and Kalispell needs to do everything in its power to ensure TeleTech remains at its current location. “We do need to support TeleTech,” Councilman Randy Kenyon said. “We really don’t want to start down the road of showing our lack of support.” The motion passed 5-3, with Zauner, Hafferman and Kluesner opposed. The council also voted to direct revenues generated by a lot in the Old School Station TIF, on the south end of town, to that lot’s Special Improvement District bond obligation. Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. Emaillast_img read more