Sales of bad debt top €100bn in 2016 as Europe’s banks try to put crisis behind them

Thursday 16 February 2017 3:45 pm The stock of NPLs is seen as a major threat to the European banking sector by the European Central Bank (ECB). The “resolution of non-performing loans in the banking sector” is a “prerequisite” for further credit growth, according to the latest minutes from interest rate policymakers at the ECB.Read more: Big five banks run up £100bn bill in bad loans and legal costsDavid Edmonds, global head of portfolio lead advisory services at Deloitte, predicts continued growth in loan sales in the face of continued high demand.He said: “I believe European loan sales could surpass €200 billion this year. The ECB is sending very clear signals to the banking sector that it’s time to deal with the ‘hangover’ of NPLs left over from the last financial crisis and start focusing on future lending.”The loan books have been bought at knock-down rates by other banks and fund managers. Fortress Investment Group was the biggest buyer, according to Deloitte. The American investors recently bought a €17.7bn tranche of loans from Italy’s Unicredit.Private equity firm Cerberus was the second biggest buyer, followed by Lloyds Banking Group. Share European loan sales broke through the €100bn (£85bn) mark in 2016 as struggling banks look to offload big books of bad debt.Italian loan sales more than doubled year-on-year to comprise €36bn (£30bn), almost a third of the total European sales, according to analysis by Deloitte. whatsapp whatsapp Jasper Jolly Italy’s Unicredit was the biggest seller, followed by the Irish “bad bank” Nama (National Asset Management Agency).Read more: Italian parliament signs off on €20bn bank bailout fundThe UK banking sector saw sales reduce by two-thirds to €13bn (£11bn), reflecting relatively earlier moves to resolve vulnerabilities on banks’ balance sheets.[custom id=”200″]The sales of non-performing loans (NPLs) and non-core assets form part of efforts by banks to put the global financial crisis behind them. During the crisis default rates soared as debtors struggled to service loans. Loans are deemed to be non-performing if they have not been serviced for 90 days or more. More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her:‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comPuffer fish snaps a selfie with lucky divernypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comConnecticut man dies after crashing Harley into live Sales of bad debt top €100bn in 2016 as Europe’s banks try to put crisis behind them read more

Will fiber optic broadband make it to the Aleutians? Decision may depend on USDA grant

first_imgAlaska’s Energy Desk | Aleutians | SouthcentralWill fiber optic broadband make it to the Aleutians? Decision may depend on USDA grantMay 24, 2020 by Hope McKenney, Alaska’s Energy Desk Share:GCI’s proposed project would bring undersea fiber optic cable from Kodiak to Unalaska, spanning approximately 860 miles. (Photo courtesy of GCI)GCI said it won’t move forward with bringing broadband communications to Unalaska at this time unless they receive a large grant from the USDA.The company has put in an application for a $25 million grant from the U.S. Department of Agriculture’s Rural Utilities Service (RUS) to bring fiber optic broadband connection to communities along the Aleutian Island chain, where connectivity and bandwidth can often be unreliable or difficult to come by.The proposed project would bring undersea fiber optic cable from Kodiak to Unalaska, stopping in six communities, and spanning approximately 860 miles.“Our general plan is to bring an undersea fiber optic cable out to Unalaska that would hook into our existing undersea fiber optic infrastructure in Kodiak,” said Dan Boyette, vice president of GCI. “We then would circle through Whale Pass on the north end of Kodiak Island and go into Larsen Bay, and then from Larsen Bay to Chignik Bay, and then on down the chain making stops in Sand Point, King Cove, Akutan, and then finally Unalaska.”The company plans to install some branching units to extend service to other places along the way like False Pass and Perryville – which aren’t in the initial project scope, but have potential for fiber optic in the future.Boyette said GCI has been working on the proposed project for a number of years, and the overall cost is high, coming in at $60 million. He said this high cost makes the business case difficult for them to follow through on, as they are a private corporation, which has a responsibility to its shareholders.“In order to get the return on the investment down to what’s appropriate for a company like ours, the [USDA’s ReConnect Loan and Grant Program] really fit quite well,” said Boyette. “So we applied for a grant of $25 million from that. And that takes the payback, or the return on investment, down to a period of years that’s acceptable to us and our parent corporation.”He said he expects to hear if they’ve received the $25 million award sometime between June and September. There are seven applicants in total from Alaska competing for a pot of $200 million.If they receive the grant, GCI plans to pay for the remainder of the project – $35 million – with it’s own capital.“But if we don’t get the grant award, we won’t move forward at this time,” said Boyette. “That’s not to say that we won’t apply again in round three. I know that there will be future rounds because the federal government is very determined to use this program to get broadband throughout rural America, just like they did in the 1920s and ’30s, when they used the same program – the Rural Utilities Service – to get electrification throughout rural America.”Boyette said the company is in the final stages of the permitting process with the U.S. Army Corps of Engineers. And in anticipation of receiving the grant award, they are already assembling a project team, working with an undersea engineer, and working to get the permitting process in Unalaska underway as soon as possible.If all goes according to plan, Boyette said he anticipates the company will begin the project “in earnest” in January of 2021, and will be able to initiate service in Aleutian communities towards the end of 2022. It will be roughly a two-year process.Boyette said the company has been working its way through rural Alaska trying to build better communications facilities, and that it’s really time for communities throughout the Aleutian chain to get better connectivity.“The Aleutian chain is the last part of Alaska that does not have terrestrial broadband service,” he said. “And in today’s world, remaining on satellite service tends to hold back the business community. By bringing fiber optic terrestrial-style broadband, all those barriers go away. So I think that the ability for Unalaska’s economy – as well as the economies of King Cove, Sand Point, and so on – to grow and help those communities become more thriving places, I think is a very real thing. We believe it’s going to be transformational.”Improved internet services and fiber optic has long been a federal and state lobbying priority for the City of Unalaska, as more and more operational programs are internet-based, posing a challenge to the city as well as local organizations and businesses.And while many Unalaskans look forward to a broadband fiber optic connection, local internet provider, OptimERA, could be in trouble. But CEO Emmett Fitch, who said the company has looked at bringing fiber optic, as well as a microwave link, to the community in the past, said he’s optimistic.“If GCI is successful in their application, and are able to get the service in place, then hopefully we can buy capacity from them and continue to do what we’re doing,” said Fitch. “You can’t compete with satellite versus fiber, for the most part. If the fiber lands, whoever controls that fiber is going to pretty much own all of the communications, or has the ability to.”Fitch said that GCI has communicated in the past that they want to work with other providers in the area. If GCI is successful in bringing fiber optic service to the Aleutians, he said the two companies will hopefully find a way to collaborate so that OptimERA will be able to continue providing service to Unalaska.Share this story:last_img read more

These Sign Language Interpreters Are Working Hard to Make Live Music…

first_imgMusicThese Sign Language Interpreters Are Working Hard to Make Live Music More Accessible to AllSouthern California’s performance interpreters have been prepping for festival season for monthsBy Lynn Q. Yu – April 9, 20182034ShareEmailFacebookTwitterPinterestReddItTwelve years ago, Tracy L’Angelle received an unexpected phone call. Coachella was going to be providing American Sign Language (ASL) services for the first time, and festival organizers were scrambling to find performance interpreters at the last minute. “Back then, we didn’t have a setup: no lighting, no audio feed, no anything,” L’Angelle remembers of her first year at the fest. “We were placed on a makeshift stage in the audience and it was, ‘Stand here; interpret what you can hear.’”To L’Angelle’s recollection, it was chaos. The interpreters weren’t given the artists’ set lists and were forced to patch together lyrics as best they could. Oftentimes, the music was so loud it was hard to make out words at all. L’Angelle went along for the ride and came away from the weekend exhilarated. A dozen years later, L’Angelle still runs ASL coordination services for major American music festivals.As more members of the Deaf community attend concerts and fests, ASL performance interpreting has expanded as well. ASL performance interpreting is distinct from standard ASL—the former requires the interpreter to provide a visual context for the songs, not just a word-by-word translation of the lyrics. Since ASL grammar is different from English grammar, attaching meaning and signs to song lyrics is akin to translating poetry in a different language. Performance interpreters also do character work, taking on the mannerisms of the performers and channeling the moods of their songs.“We want to provide interpretation of words but also portray visually the aesthetic and how they’re being sung,” L’Angelle says, using Metallica as an example. “Just look at James Hetfield and his stance as a performer. Getting into this character means I stand with my feet more apart, a firm body, and shoulders back.”Even more rigorous are the two to three months of preparation necessary to learn the backstory of an artist’s discography. An artist’s intention for each track informs how the interpreters craft their translation. Ideally, interpreters get access to artists in advance of performances, but that isn’t always possible.Sara Groves, who began as an interpreter at Stagecoach but has since expanded her repertoire to include hip-hop music, listens to each song at least a dozen times before she takes the stage. She learns all of an artist’s lyrics by heart—that way if there’s an audio or technical issue, she’ll still be able to act as a smooth conduit between the audience members and the artist.Hip-hop, which is rife with slang without codified signs, requires extra attention on the part of interpreters. At the Observatory’s Day N Night Fest in 2017, Princess Nokia opened with a banger that began, “Yeah ho! Kitana kitana kitana kitana;” on another stage, MadeinTYO rapped, “Shorty wanna kiss me, but she busy sucking dick/Look, Uber everywhere, pre-rolls in my VIP.” To interpret slang-rich lyrics, Groves says she relies heavily on the Deaf community, using online chat forums and Facebook groups to work out appropriate translations. “We’ll go to our Deaf peers and say, ‘What’s your sign for Uber? What’s your sign for having sex?’” Groves explains.Kyla Wilkenfeld, who served as Kendrick Lamar’s interpreter at Coachella last year, was stumped by Lil Pump’s catchphrase, “esketit.” “Just hearing it, I had no idea what it meant,” Wilkenfeld says. One day, Wilkenfeld heard her high school students shouting, “Catch me outside, how ’bout that? Esketit.” Once Wilkenfeld realized “esketit” was the equivalent of “let’s get it,” she was able to formulate a matching sign.Wilkenfeld will be signing her fourth Coachella this year, interpreting for SZA, Beyonce, and Cardi B. “For me, the most entertaining and humbling part is being able to sit with my daughter, boyfriend, and some of the students I work with to have them explain some rap concepts to me,” Wilkenfeld says. “Which drug is that? What is a ‘thot?’ Is it pronounced SZA as in ‘scissors’ or SZA like the initials? Is this drugs or Netflix? It’s been an adventure.”A hot-button topic within the ASL performance interpreting community, particularly when it comes to hip-hop, is the use of the n-word. Are ASL performance interpreters, regardless of their background, obligated to sign the n-word? Or should a white ASL interpreter censor herself, even if the rapper shouts the word four times in a row? Is there a non-offensive way to go about signing it?There is a distinction between whether it’s used with a hard “er” or an “a” at the end. For the latter, the sign is very casual, denoting “my homie” or “my friend.” Groves was uncomfortable with it at the beginning, but eventually decided her role as interpreter required her to display the sign on behalf of the artist.“I need to remember that it’s not coming from me, it’s coming from them,” Groves says. “I’m relaying this message for you, I’m just the filter.”Wilkenfeld agrees. “As far as interpreting is concerned, I am not me,” Wilkenfeld says. “My consumers are coming to see the performers. If we take it upon ourselves to edit what the performers are saying, it’s me telling them what they can or cannot say.” It would also make watching a YG show impossible.Both Groves and Wilkenfeld have experienced a dizzying array of distractions while working, from dancing strippers to marijuana offerings. However crazy it may get, the interpreters must relay all the onstage action to the Deaf community’s concert-goers. Even non-lyrical music merits its own set of signs. “I’m prepping an electronic artist that doesn’t have a great deal of lyrics nor lyrics for every song,” L’Angelle says of this year’s Coachella. “So that means I still have to provide some visuals for what’s happening with the music: beats, rhythm, pacing, et cetera.”“By having the sign language interpreters present, I feel included when others sing along, and I can sing along with my voice and sign at the same time,” says Randall Rushing, a Deaf patron who has been attending concerts since he was 14. “American Sign Language takes the English lyrics into another higher level of understanding than what the hearing fans would understand.”ASL performance interpreting is not an easy gig to land. The work is sporadic and the field is tough to break into. “One thing that is a little of a concern, because this side of interpreting has so much more visibility, is a lot of young newbies decide that’s what they want to do and don’t realize that it’s not a straight shot to get there,” says L’Angelle.There is no formal training to become an ASL concert interpreter—those passionate enough to devote themselves to the craft can attend workshops, research signs, and shadow more experienced mentors. For this year’s Coachella and Stagecoach festivals, L’Angelle and her team held a prep camping trip to work through particularly difficult imagery or concepts together. But mostly, performance interpreters must practice, practice, practice until they develop a feel for what the job entails.Wilkenfeld teaches a six-week performance interpreting intensive over the summer months.“The one thing that is most fulfilling is when I get to teach the new students who aren’t learning anything about performance interpreting in their classes,” Wilkenfeld says. “I watch those interpreters take it back to their communities and our community as a whole grows and becomes that much better.”For a region as large as Southern California, the performance interpreting community is still relatively small, but as strides are made to make experiences more accessible for differently abled people, it will be increasingly visible.“There’s not a ton of us, but we’re a growing niche of the professional interpreting community,” L’Angelle says. “We’re in this profession to serve the Deaf community, and our heart is for providing access for the Deaf community.”For Deaf festival-goers attending this year’s Coachella, L’Angelle’s team and Wilkenfeld will be available throughout the two weekends. The full interpreting schedule will be posted on the Coachella ADA page.RELATED: Helicopters, Yurts, and Other Over-the-Top Coachella UpgradesStay up to date with everything you need to know about L.A. by following us on Facebook and Instagram. TAGSAmerican Sign LanguageASLCoachellaCoachella 2018Previous articleThe Cuban Sandwich at This Silver Lake Spot Was Just Named Best in the WorldNext articleWhy a Small South L.A. Market’s Fresh-Food Facelift Is a Big DealGwynedd Stuart RELATED ARTICLESMORE FROM AUTHORUpdated! The 2021 Music Festival GuideCoachella Sets a Date for Its 2022 ComebackCoachella and Stagecoach Will Reportedly Postpone to 2022last_img read more

A Feline Furry at Comic-Con Reacts to the “Cats” Trailer

first_imgFilmPop CultureA Feline Furry at Comic-Con Reacts to the “Cats” TrailerWill the screen adaptation of Andrew Lloyd Webber’s classic musical be good for people who wear animal suits? Spottacus Cheetah thinks soBy Matt Haber – July 19, 20193146ShareEmailFacebookTwitterPinterestReddItBy now you’ve probably seen the trailer for Cats—likely more than once, since the version posted on Universal’s YouTube page has been viewed almost 3.3 million times since it was posted yesterday. Set for a Christmas release, Tom Hooper’s adaptation of the long-running Broadway musical briefly served as catnip to Twitter denizens who caught cat scratch fever as the clip played out its predictable viral lifecycle before everyone moved on to the the trailer for Top Gun: Maverick or the president’s latest racist tweets.For one viewer, however, the Cats trailer inspired warm and fuzzy feelings. Spottacus Cheetah, a participant in the furry fandom community, watched the trailer while at Comic-Con in San Diego. Spotti was there with several steamer trunk-sized cases holding some of his 20-25 custom-made fur suits, some costing into the five figures. (His latest, Rawr Dragon, will make its Comic-Con debut on the convention floor today.) Best known for his cheetah persona, Spotti, as he’s known to his furry friends, also embodies a wolf, a tiger, an ocelot, and other fantastic beasts for the past 30-plus years. When not in his fur suits (though he’s frequently in his fur suits), Spotti is a 60-year-old Bay Area doctor, inventor, tech entrepreneur, and former Stanford professor. He spoke to Los Angeles by phone from San Diego. (This interview has been edited and condensed.)Have you seen the Cats trailer?I have seen the Cats trailer. My reaction is a little different then the general public’s. I tend to appreciate the anthropomorphic efforts more than the CGI efforts, so I actually liked it. I do understand that for some it falls into the uncanny valley, but, for me, seeing the characters acting out in an anthropomorphic form was actually wonderful.You seem to live in the uncanny valley.I try not to actually! When you’re suiting, there’s a general rule that you do not break the magic. That you do not take off your head. Even people who fur suit and do stage work understand that to have a human face and animal body falls into that uncanny valley. Typically, what we try to do, is never take your head off in public. Go somewhere where you’re not seen, because it is a somewhat jarring experience for some. And the other [rule] is that you either make your suits cartoony in which case you don’t expect a human face, or you make it hyper realistic in which case you expect animal-like eyes and teeth. You typically don’t mix the human aspect by taking off the head or making it somewhat of a crossover or hybrid. in the Cats trailer, that’s exactly what they did.Yes. That is exactly what they did.Is that going to upset people in your community?Well, it can be jarring and you can see that by the internet reaction. I think another example would be when they anthropomorphized the Sonic character. You had these hairy legs and this hairy body and people were really repelled by it. I think part of it is the difference between fur and hair. Digital hair can be kind of unnerving and unkempt. Whereas you think of a character like Sulley in Monsters, Inc., who was totally covered in fur and was adorable. Fur is appreciated, but when it starts to cross over into a more human hair, people tend to not like that.Will Cats be good for the furries?I think yes. People have all sorts of ways that they reach this anthropomorphic feeling. It can be a cartoon that they saw. For a generation, it was the Disney Robin Hood, it was The Lion King. Whatever you see when you’re younger tends to get into your brain. And for some, it was, in fact, seeing Cats. Fifteen years ago there was a group of fur suiters who wore and duplicated the Cats suits and they went to all the furry conventions. And they were absolutely welcome. They were adorable.A lot of the blowback from the trailer was how uncomfortable people were with how “sexy” the cats looked.What I understood from some of the pushback was that it was kind of a hybrid choice. They didn’t want to offend anyone. There were mounds but no “structure.”  If you think about dancers in stage productions, they tend to be highly athletic and when they were dance wear it does show their bodies. When I watched [the trailer] and I watched some of their poses, what I saw were dance poses. So I interpret it more as looking at dance wear, which is an interesting interpretation. When you watch Broadway dancers move, their moves are engaging and occasionally erotic, so the question is, do you erase that? They made some choices. I enjoyed the dancing because I’d seen the play before, but I don’t think it was intended to be sexualized. I think they toned that down.One post I saw zeroed in on the placement of a cat’s tail, which the writer thought looked like a penis.I didn’t see that. I don’t think it was intended to be sexualized. There were some design choices that could’ve been thought through better, but of course, the internet is full of trolls. The general reaction has been strong enough that maybe they do need to rethink some of the CG choices. If you make the choice wrong, it does send a different connotation. you resent that they didn’t call you as a consultant?[Laughs] Not at all! I’m highly scientific and mathematical, but I’m not artistic in that sense.But you’ve been dancing in a cat suit for 30 years!That’s true! I have no illusions that while I enjoy dancing and movement that I’m anywhere near the professional level of these folks. From my point of view, the idea of transformation, presenting yourself in a form that you want others to see you in, is really what the furry fandom is about. You have these fixed characteristics—age, gender, height, race—and you can rewrite that. We’re doing that in our communications every day using avatars that are animals in our messaging, in online gaming. To me, this kind of transformation is beautiful to watch and it’s really life changing to experience. The fact that people will be talking about this and the conversation can stay on track, it’ll be a good thing for everyone, including the furry fandom.Will you see Cats next Christmas?Oh, you bet!What will you wear?I will be in suit of course.Anything special for the occasion?Being a cat person, I have enough cat suits to choose from. I would just go with my tiger suit. I’ve watched a lot of movies through furry eyes, in fur suit. I’ve been to the San Francisco Symphony in full fur suit. I enjoy the experience of watching something feeling transformed. I love that experience. TAGScatsCats the MusicalComic-ConFurriesMoviesTaylor SwifttrailersPrevious articleMeet Sheriff Alex Villanueva, the Donald Trump of L.A. Law EnforcementNext articleL.A.’s Least Boring Ice Cream Flavors and Where to Find ThemGwynedd Stuart RELATED ARTICLESMORE FROM AUTHORArcLight Cinemas and Pacific Theatres Are Permanently Shutting DownL.A. Movie Theaters Can Reopen Next Week—but Some Cinemas Aren’t Quite Ready‘The Raw Materials Were Her Life’: The New Billie Eilish Documentary Shoots for Storytelling with No Filterlast_img read more

German spending spree would not be enough to save Eurozone

first_img More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the GERMAN fiscal stimulus would have a minimal impact on Eurozone growth, ratings agency Standard and Poors (S&P) have said. Top figures, including Mario Draghi, the European Central Bank boss, and Christine Lagarde, the head of the International Monetary Fund have called on the Eurozone’s largest economy to boost spending. With a balanced budget and low government debt, it is the only major Eurozone economy considered to have the ability to undertake big spending plans.However, S&P yesterday said that if Germany increased public spending by one per cent of GDP in both 2015 and 2016, only 0.3 per cent would be added to Eurozone GDP by the end of 2016. The size of the assumed stimulus package is on a par with those seen in other advanced economics such as the UK and US. S&P believes 210,000 jobs could be created, but this pales in comparison to the 18m unemployed Eurozone citizens. Share Wednesday 22 October 2014 8:16 pm German spending spree would not be enough to save Eurozone Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. whatsapp Show Comments ▼ whatsapp Tags: Eurozonelast_img read more

Instagram valued at $35bn – but how does that compare to Facebook, Twitter, Pinterest, LinkedIn and WhatsApp?

first_img Show Comments ▼ Tags: Facebook LinkedIn Twitter whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHero WarsAdvertisement This game will keep you up all night!Hero WarsUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndo Instagram exceeded Twitter in terms of daily users last month; now it looks like that has trickled through to its valuation.  The photo-sharing app has been valued at $35bn by Citi analyst Mark May, nearly double the amount he previously estimated.  Based on Twitter’s current share price, it’s worth just over $23bn. Instagram was bought by Facebook founder Mark Zuckerberg in 2012 for around $1bn, when it had 100m active users. Now it has 300m. As a result, it has the potential to drive revenues within the Facebook group far more significantly than previously thought, May said. “While Instagram is still early in monetizing its audience and data assets and its financial contribution to Facebook is minimal today, we believe that it is quickly gaining monetization traction and would contribute more than $2 billion in high-margin revenue at current user and engagement levels if fully monetized,” he wrote in a note issued today.  Citi has raised its price target for Facebook to $91 from $86 as a result.   Next year could be a particular boom year for the business. May reckons 2015 will be the first year that Facebook begins to develop “more meaningful off-Facebook revenue streams”, including Instagram.    Here is how those valuations compare with other social media platforms this year:This is what it looked like back in 2008. Obviously many of the multi-billion dollar businesses dominating the industry were just twinkles in their creator’s eyes six years ago.  whatsapp Friday 19 December 2014 12:07 pm Instagram valued at $35bn – but how does that compare to Facebook, Twitter, Pinterest, LinkedIn and WhatsApp? Catherine Neilan Sharelast_img read more

Sadness at death of Breda Delaney, former proprietor of well-known Portlaoise pubs

first_img Facebook Electric Picnic Pinterest Home News Community Sadness at death of Breda Delaney, former proprietor of well-known Portlaoise pubs NewsCommunity Electric Picnic organisers release statement following confirmation of new festival date Pinterest Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Twitter RELATED ARTICLESMORE FROM AUTHOR WhatsApp Twittercenter_img TAGSBreda DelaneyWelcome Inn By LaoisToday Reporter – 7th April 2020 Previous articleLaois parish set for second online lunchtime concertNext articleStudying during Coronavirus: Clonaslee College student on prepping for state exams in a pandemic LaoisToday Reporter News Electric Picnic Facebook WhatsApp The death has taken place of Breda Delaney whose family owned two well-known Portlaoise pubs over the years.Mrs Delaney (nee Keaveney), who was originally from Tynagh in east Galway, and her late husband Michael originally owned the Welcome Inn in the Market Square in Portlaoise.They also owned The Hare and Hound pub on Main Street in Portlaoise which is now owned and run by her son Grellan. After Michael died at a young age, the Welcome Inn was run by Michael’s brother Aidan Delaney and his wife Nora.Breda is predeceased by her husband Michael and baby daughter Orla. Dearly loved mother to Kevin, Grellan, Michelle Farrell and Sinead McPherson.Deeply regretted by her loving familt, sons in law, daughters in law, grandchildren, great grandchildren, nephews, nieces, brothers in law, sisters in law and special friend Kathleen.She is also mourned by Bernie and the wonderful staff of Ballard Lodge Nursing Home and a large circle of friends.Mrs Delaney passed away peacefully at Tullamore Regional Hospital.A private family mass will be celebrated at 12noon today (Tuesday) in SS Peter and Paul’s Church, Portlaoise, and broadcast on webcam at the exceptional climate, and to protect the welfare of everyone who knew Breda, a private Funeral with immediate family only will take place.The family thank you for your cooperation, understanding and support during this sensitive time.SEE ALSO – Deaths in Laois – Tuesday, April 7, 2020 Sadness at death of Breda Delaney, former proprietor of well-known Portlaoise pubslast_img read more

Joe Mallon Motors Car of the Week: 191 Dacia Sandero from €47 per week

first_img Twitter Electric Picnic Previous articlePortlaoise Institute offers great choices for students for SeptemberNext articleDeaths in Laois – Friday, September 18, 2020 LaoisToday Reporter RELATED ARTICLESMORE FROM AUTHOR Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role WhatsApp Home Motors Joe Mallon Motors Car of the Week: 191 Dacia Sandero from €47… MotorsSponsored By LaoisToday Reporter – 18th September 2020 WhatsApp TAGSDacia SanderoJoe Mallon Motors Facebook Twitter Electric Picnic organisers release statement following confirmation of new festival date Pinterest This is another Exceptional Offer From JOE MALLON MOTORS.Why buy from Joe Mallon Motors? Confidence, peace of mind, reassurance.Price: €14,900Registration: 191 KE 3889Previous Owners: 1Engine Size: 0.9 litreTransmission: ManualMileage: 14,832 kmColour: GreyFuel Type: PetrolBody Style: Hatchback You can check out the finance arrangements you can avail of on this car here. SEE ALSO – Check out the new Joe Mallon Motors website here Facebook Electric Picnic Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Pinterest This week’s Car of the Week from Joe Mallon Motors is a 191 Dacia Sandero.With a finance option in place, this car could be yours from €47 per week.This car is priced at €14,900. News Joe Mallon Motors Car of the Week: 191 Dacia Sandero from €47 per weeklast_img read more

TSX ends lower amid weak jobs data

Facebook LinkedIn Twitter Share this article and your comments with peers on social media TSX gets lift from financials, U.S. markets rise to highest since March Related news The Toronto stock market closed lower Friday amid data showing marginal growth in U.S. employment and uncertainty surrounding the potential economic impact of the eurozone’s debt crisis. Financials and energy stocks helped take the S&P/TSX composite index down 60.11 points to 12,408.25. The TSX had come back from an earlier deficit of more than 100 points as mining stocks improved. Keywords Marketwatch Toronto stock market dips on weakness in the energy and financials sectors Malcolm Morrison S&P/TSX composite hits highest close since March on strength of financials sector The TSX Venture Exchange moved up 7.57 points to 1,650.01. The Canadian dollar was down almost a full U.S. cent amid deeply disappointing employment data for Canada, with October recording the biggest loss in jobs since March 2009. Economy sheds 54,000 jobs in October The loonie fell 0.84 of a cent to 98.36 cents US after Statistics Canada reported that the economy shed 54,000 jobs overall, most of them in manufacturing and construction. Economists had expected a moderate increase in employment of 15,000 after September’s surprising 61,000 pick-up, although that was somewhat inflated by returning education workers. The jobless rate came in at 7.3%, 0.2 percentage points higher than in September. New York markets were also lower after the U.S. Labour Department reported that the economy created about 80,000 jobs last month, compared with expectations of 95,000. The jobless rate was nine per cent, down from 9.1% in September. The U.S. report also revised higher data from the previous two months, showing that an additional 104,000 jobs had been created in August and September. “If you take the optimistic view that the job situation isn’t worsening, then that just reaffirms that the U.S. economy continues to grow, albeit at a much slower pace than what people would hope,” said Phillip Petursson, director of institutional equities at Manulife Global Investment Management. But European worries trumped the jobs report and the Dow Jones industrial average closed down 61.23 points to 11,983.24. The Nasdaq composite index was down 11.82 points to 2,686.15 while the S&P 500 index declined 7.92 points to 1,253.23 as investors looked to Greece where prime minister George Papandreou faced a confidence vote in a political drama that threatened to hobble efforts by European leaders to contain the debt crisis. Markets were volatile earlier this week after Papandreou stunned markets by calling a referendum on the country’s bailout package. His plan, which he recinded on Thursday, nonetheless increased investor fears of a disorderly Greek debt default and the country’s possible exit from the eurozone. “That continues to weigh on markets,” added Petursson. “You know, it’s unfortunate that things seemed to be moving ahead at a nice pace last week and then at the start of the week Greece just throws this huge cloud of uncertainty over everything at probably the worst possible moment.” Meanwhile, leaders of the world’s 20 most powerful economies wrapped up a two-day meeting without agreeing on how to increase the firepower of the International Monetary Fund so that it can help stem the European debt crisis. But they did acknowledge that its resources should be boosted. Worries about the European debt crisis pushed the TSX down 111.26 points or 0.88% this week while the Dow industrials gave back 247.87 points or 2.02%. Possible damage to the eurozone’s financial sector and the latest sign of weakness in the Canadian economy pushed the TSX financial sector down 1.39% on Friday. Royal Bank (TSX:RY) gave back $1.13 to $45.85 and Manulife Financial (TSX:MFC) lost 32 cents to $12.79. Commodity prices had weakened following the U.S. jobs report but the December crude contract on the New York Mercantile Exchange ended the session up 19 cents at US$94.26 a barrel. The TSX energy sector lost 0.63% as Canadian Natural Resources (TSX:CNQ) dropped 50 cents to C$37.73 and Suncor Energy (TSX:SU) dropped 31 cents to C$32.89. The base metals sector gained 0.94% even as the December copper contract on the Nymex closed two cents lower at US$3.56 a pound. First Quantum Minerals (TSX:FM) rose 46 cents to C$22.81 and Ivanhoe Mines (TSX:IVN) climbed 99 cents to C$22.82. The gold sector was little changed while bullion prices dipped with the December contract down $9 to US$1,756.10 an ounce. Barrick Gold Corp. (TSX:ABX) was down 27 cents at C$52.23. Centerra Gold Inc. (TSX:CG) reported a five-fold increase in third-quarter profits on Thursday, citing an increase in sales and higher realized prices for gold for the big improvement. The Toronto-based miner earned US$83.8 million or 35 cents per share while revenue increased to US$278.4 million from $119.9 million in the same period last year. Its shares added a penny to $21.03. The industrials sector was also weak and Air Canada (TSX:AC.B) shares were four cents lower at $1.36. The airline beat expectations even though it lost $124 million or 45 cents per share in the summer period. Excluding foreign exchange losses, its adjusted profit was $270 million, or 55 cents per share, seven cents above analyst expectations. In other earnings news, Canadian Real Estate Investment Trust (TSX:REF.UN) reported its net profit rose nearly 10% to $11.3 million in the latest quarter as the company benefited from property acquisitions. Its units gained 10 cents to $35.54. read more

Five things to watch for in Canadian business this week

first_img 1. Housing startsCMHC releases its latest read on the Canadian housing market on Monday when it publishes its preliminary data on housing starts for March. The annual pace of housing starts cooled in February as higher mortgage rates and less stimulative economic conditions helped soften demand. Share this article and your comments with peers on social media 2. Cogeco earningsCogeco and Cogeco Communications issue second-quarter results on Tuesday. The Montreal-based cable and internet company signed a deal in February to sell struggling Cogeco Peer 1 Inc. six years after purchasing it.3. Scotia AGMThe Bank of Nova Scotia will hold its annual meeting of shareholders on Tuesday in Toronto. The CEOs of three of Scotiabank’s rivals said last week that they expect muted economic growth, a slower spring housing market and have concerns about the country’s future prosperity, but expressed confidence in their ability to navigate any rough patches ahead.4. Shaw resultsShaw Communications will release second-quarter results on Tuesday. Shaw’s subsidiary Freedom Mobile drew the fifth-highest number of consumer complaints, after Bell, Rogers, Cogeco and Telus, according to a recent report by Canada’s telecommunications and television service.5. Pot statsStatistics Canada releases its StatsCannabis data availability on Wednesday. The agency said that the average price of a legal gram of medical or non-medical weed during the fourth quarter last year was $9.70, compared to the black market price of $6.51. Canadian Press center_img People examining economic statistic Financial examiner Vector illustration. simmmax/123RF Facebook LinkedIn Twitterlast_img read more